M 
472
+1.29%
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
¥1.61bn
FY2017FY2026
Net income
−¥716.2m
FY2017FY2026
Free cash flow
−¥528.9m
FY2017FY2026
Shareholders' equity
¥308.4m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.61bn | ¥1.87bn | ¥2.01bn | ¥2.07bn | ¥2.20bn | ¥1.93bn | ¥1.80bn | ¥1.94bn | ¥2.17bn | ¥2.25bn |
| Gross profit | ¥694.3m | ¥909.0m | ¥1.00bn | ¥1.07bn | ¥1.12bn | ¥889.6m | ¥836.8m | ¥900.0m | ¥1.13bn | ¥944.6m |
| Operating income | −¥533.9m | −¥323.0m | −¥141.2m | ¥58.9m | ¥193.7m | ¥47.6m | −¥9.6m | ¥36.0m | ¥72.7m | −¥31.5m |
| Net income | −¥716.2m | −¥508.0m | −¥271.0m | ¥35.3m | ¥153.8m | ¥7.2m | −¥149.5m | ¥22.0m | ¥20.5m | −¥110.8m |
| Diluted earnings per share | -66.04 | -48.64 | -26.89 | 3.51 | 15.26 | 0.71 | -14.83 | 2.18 | 2.08 | -18.27 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.26bn | ¥2.28bn | ¥2.65bn | ¥2.71bn | ¥3.01bn | ¥3.12bn | ¥3.23bn | ¥3.09bn | ¥3.00bn | ¥3.18bn |
| Cash and short-term investments | ¥817.0m | ¥1.60bn | ¥1.96bn | ¥2.03bn | ¥2.38bn | ¥2.41bn | ¥2.50bn | ¥2.30bn | ¥2.10bn | ¥2.23bn |
| Total liabilities | ¥956.4m | ¥1.57bn | ¥1.61bn | ¥1.37bn | ¥1.65bn | ¥1.92bn | ¥2.04bn | ¥1.74bn | ¥1.59bn | ¥1.69bn |
| Debt | ¥708.4m | ¥1.20bn | ¥1.29bn | ¥1.13bn | ¥1.41bn | ¥1.65bn | ¥1.82bn | ¥1.51bn | ¥1.35bn | ¥1.42bn |
| Shareholders' equity | ¥308.4m | ¥708.0m | ¥1.05bn | ¥1.35bn | ¥1.36bn | ¥1.20bn | ¥1.19bn | ¥1.34bn | ¥1.41bn | ¥1.49bn |
| Shares outstanding | 11m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 6m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥476.3m | −¥220.0m | ¥44.2m | ¥75.6m | ¥290.1m | ¥148.5m | ¥56.3m | ¥107.0m | ¥129.0m | ¥289.0m |
| Capital spending | −¥52.6m | −¥32.0m | −¥2.3m | −¥116.5m | −¥62.0m | −¥68.7m | −¥166.7m | −¥4.0m | −¥12.0m | −¥3.0m |
| Free cash flow | −¥528.9m | −¥252.0m | ¥41.9m | −¥40.9m | ¥228.1m | ¥79.9m | −¥110.5m | ¥103.0m | ¥117.0m | ¥286.0m |
| Dividends paid | — | — | −¥31.5m | −¥45.1m | −¥45.0m | −¥45.0m | −¥45.0m | — | — | — |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥391.2m | ¥392.9m | ¥411.5m | ¥416.6m | ¥450.0m | ¥466.6m | ¥480.3m | ¥476.0m |
| Gross profit | ¥165.0m | ¥164.9m | ¥183.9m | ¥180.5m | ¥201.0m | ¥236.4m | ¥232.5m | ¥239.0m |
| Operating income | −¥137.0m | −¥87.6m | −¥158.8m | −¥150.5m | −¥217.0m | −¥33.7m | −¥35.3m | −¥37.2m |
| Net income | −¥362.3m | −¥85.8m | −¥159.6m | −¥108.6m | −¥315.0m | −¥123.3m | −¥30.2m | −¥39.0m |
| Diluted earnings per share | -33.41 | -7.91 | -14.71 | -10.40 | -30.16 | -11.81 | -2.89 | -3.87 |
| Total assets | ¥1.26bn | ¥1.65bn | ¥1.87bn | ¥2.11bn | ¥2.28bn | ¥2.00bn | ¥2.06bn | ¥2.33bn |
| Cash and short-term investments | ¥817.0m | ¥962.9m | ¥1.20bn | ¥1.44bn | ¥1.60bn | ¥1.27bn | ¥1.28bn | ¥1.62bn |
| Debt | ¥330.4m | ¥435.4m | ¥972.5m | ¥579.8m | ¥1.20bn | ¥542.1m | ¥867.0m | ¥602.7m |
| Shareholders' equity | ¥308.4m | ¥586.3m | ¥629.8m | ¥646.9m | ¥708.0m | ¥851.9m | ¥975.2m | ¥1.01bn |
Financial ratios
Data as of 17 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 43.1% | 48.5% | 49.7% | 51.5% | 50.7% | 46.1% |
| Operating margin | -33.1% | -17.2% | -12.1% | 2.5% | 7.3% | 0.8% |
| Net margin | -44.4% | -27.1% | -13.5% | 1.7% | 7.0% | 0.4% |
| Return on equity | -232.2% | -71.8% | -25.9% | 2.6% | 11.3% | 0.6% |
| Return on assets | -56.6% | -22.3% | -10.2% | 1.3% | 5.1% | 0.2% |
| Free cash flow yield | -9.2% | -4.2% | 1.1% | 4.5% | 8.2% | 5.1% |
| Revenue growth | -13.9% | -6.9% | -2.9% | -5.9% | 14.2% | 7.3% |
| Earnings growth | 41.0% | 87.5% | -867.1% | -77.0% | 2040.6% | -104.8% |
| Current ratio | 1.82x | 1.90x | 2.26x | 2.72x | 2.61x | 2.36x |
| Debt to equity | 1.07x | 1.70x | 1.23x | 0.84x | 1.04x | 1.37x |
| Equity ratio | 24.4% | 31.1% | 39.4% | 49.6% | 45.1% | 38.5% |
| Interest coverage | -48.03x | -15.52x | -20.64x | 4.97x | 12.75x | 1.11x |
| Buybacks as a share of market value | -3.8% | -3.6% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.1% | -3.5% | -1.8% |
| Operating income | — | — | 46.6% |
| Net income | — | — | 17.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 46.0% | 48.5% | 48.5% | 47.9% |
| Operating margin | -24.6% | -12.4% | -6.0% | -2.9% |
| Net margin | -35.1% | -19.3% | -11.1% | -7.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.2 | -10.5 | -17.3 | 64.8 | 20.3 | 443.3 | -23.9 | 207.1 | 179.2 | -27.9 |
| Price to sales | 3.2 | 2.9 | 2.3 | 1.1 | 1.4 | 1.6 | 2.0 | 2.3 | 1.7 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Aug 2024.
| FY2024 | FY2023 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 6.00 | 4.50 | 10.00 | 12.25 | 12.25 | 11.25 | 10.25 | 7.00 |
- 2-for-1 split · 27 Mar 2015
- 100-for-1 split · 26 Feb 2014
- 2-for-1 split · 27 Aug 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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