I 
439
+1.39%
Close of 9 Nov 2026, in JPY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in JPY, from our data supplier.
Revenue
¥731.6m
FY2017FY2026
Net income
−¥259.5m
FY2017FY2026
Free cash flow
−¥95.2m
FY2017FY2026
Shareholders' equity
¥631.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥731.6m | ¥646.1m | ¥527.9m | ¥546.1m | ¥928.8m | ¥685.0m | ¥692.0m | ¥702.0m | ¥815.1m | ¥804.3m |
| Gross profit | ¥66.3m | ¥138.1m | ¥149.2m | ¥177.0m | ¥160.1m | ¥146.3m | ¥87.0m | ¥115.5m | ¥131.8m | ¥74.5m |
| Operating income | −¥175.3m | −¥71.1m | −¥13.5m | ¥53.6m | ¥5.7m | ¥14.3m | −¥65.0m | −¥47.2m | ¥4.4m | −¥81.9m |
| Net income | −¥259.5m | −¥36.6m | −¥20.7m | ¥50.6m | ¥6.4m | ¥144.9m | −¥61.0m | −¥157.0m | −¥320.3m | −¥100.1m |
| Diluted earnings per share | -78.21 | -18.14 | -10.28 | 25.08 | 3.19 | 71.86 | -30.25 | -77.87 | -177.54 | -54.72 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.00bn | ¥614.4m | ¥627.9m | ¥706.9m | ¥767.5m | ¥799.8m | ¥590.0m | ¥531.4m | ¥387.1m | ¥662.2m |
| Cash and short-term investments | ¥820.4m | ¥275.4m | ¥363.2m | ¥454.9m | ¥505.0m | ¥321.5m | ¥283.8m | ¥314.9m | ¥94.8m | ¥112.9m |
| Total liabilities | ¥370.7m | ¥306.3m | ¥291.1m | ¥348.1m | ¥430.0m | ¥452.9m | ¥337.9m | ¥297.4m | ¥313.8m | ¥276.1m |
| Debt | ¥42.5m | ¥3.6m | — | ¥106.7m | ¥106.7m | ¥140.0m | — | — | ¥51.4m | ¥40.0m |
| Shareholders' equity | ¥631.0m | ¥284.1m | ¥336.8m | ¥358.8m | ¥337.5m | ¥346.9m | ¥235.8m | ¥207.9m | ¥64.1m | ¥386.0m |
| Shares outstanding | 3m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥94.5m | −¥7.5m | ¥39.2m | −¥46.2m | ¥189.0m | −¥219.4m | −¥69.1m | −¥52.0m | ¥17.0m | −¥24.0m |
| Capital spending | −¥717,000 | −¥1.0m | −¥60.0m | −¥36.1m | −¥20.8m | −¥1.1m | −¥4.9m | −¥2.0m | −¥3.0m | −¥2.0m |
| Free cash flow | −¥95.2m | −¥8.6m | −¥20.8m | −¥82.3m | ¥168.2m | −¥220.5m | −¥74.1m | −¥54.0m | ¥14.0m | −¥26.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥101.8m | ¥192.0m | ¥164.1m | ¥182.4m | ¥193.0m | ¥214.3m | ¥165.0m | ¥148.0m |
| Gross profit | ¥13.1m | ¥27.8m | ¥2.8m | ¥8.8m | ¥27.0m | ¥62.3m | ¥30.0m | ¥33.0m |
| Operating income | −¥29.9m | −¥39.2m | −¥47.8m | −¥48.5m | −¥39.7m | −¥17.0m | −¥13.0m | −¥11.7m |
| Net income | −¥34.3m | −¥50.7m | −¥63.5m | −¥120.1m | −¥25.0m | −¥62.3m | −¥9.0m | −¥11.0m |
| Diluted earnings per share | -10.35 | -15.29 | -31.48 | -59.58 | -12.40 | -30.89 | -4.46 | -5.46 |
| Total assets | ¥957.1m | ¥1.00bn | ¥499.0m | ¥559.1m | ¥677.3m | ¥614.4m | ¥637.3m | ¥650.5m |
| Cash and short-term investments | ¥801.5m | ¥820.4m | ¥299.7m | ¥319.7m | ¥359.3m | ¥275.4m | ¥337.0m | ¥396.9m |
| Debt | ¥10.0m | ¥42.5m | ¥11.4m | ¥50.4m | ¥11.4m | ¥3.6m | — | — |
| Shareholders' equity | ¥600.3m | ¥631.0m | ¥79.4m | ¥142.2m | ¥262.5m | ¥284.1m | ¥361.6m | ¥370.4m |
Financial ratios
Data as of 28 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2010 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 9.1% | 21.4% | 28.3% | 32.4% | 17.2% | 21.4% | — | — | — | — |
| Operating margin | -36.8% | -4.5% | -2.2% | 9.8% | 2.6% | 21.7% | — | — | — | — |
| Net margin | -35.5% | -5.7% | -3.9% | 9.3% | 0.7% | 21.2% | — | — | — | — |
| Return on equity | -41.1% | -12.9% | -6.2% | 14.1% | 1.9% | 41.8% | — | — | — | — |
| Return on assets | -25.9% | -6.0% | -3.3% | 7.2% | 0.8% | 18.1% | — | — | — | — |
| Free cash flow yield | -5.2% | -0.6% | 9.0% | -0.9% | 19.1% | -19.9% | — | — | — | — |
| Revenue growth | 13.2% | 22.4% | -3.3% | -41.2% | 35.6% | -1.0% | — | — | — | — |
| Earnings growth | 609.6% | 76.4% | -141.0% | 687.2% | -95.6% | -337.5% | — | — | — | — |
| Current ratio | 7.28x | 3.72x | 4.41x | 3.41x | 4.27x | 5.56x | — | — | — | — |
| Debt to equity | 0.07x | 0.01x | 0.00x | 0.30x | 0.41x | 0.40x | — | — | — | — |
| Equity ratio | 63.0% | 46.2% | 53.6% | 50.8% | 44.0% | 43.4% | — | — | — | — |
| Interest coverage | -340.79x | -2069.57x | -19.49x | 89.74x | 10.37x | 253.64x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.2% | 8.7% | 1.7% | 1.8% |
| Buybacks as a share of market value | -64.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.2% | 1.3% | -5.2% |
| Operating income | — | — | 0.9% |
| Net income | — | — | 3.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.8% | 21.6% | 20.6% | 18.1% |
| Operating margin | -17.9% | -8.4% | -4.6% | -6.4% |
| Net margin | -21.5% | -10.9% | -2.8% | -11.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.6 | -28.8 | -48.1 | 16.1 | 139.7 | 7.7 | -18.5 | -8.4 | -4.1 | -16.0 |
| Price to sales | 2.0 | 1.6 | 1.9 | 1.5 | 1.0 | 1.6 | 1.6 | 1.9 | 1.6 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Mar 2009.
| FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|
| Paid in the year | 12.50 | 15.00 | 2.50 | 12.50 |
- 200-for-1 split · 26 Sept 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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