P 
49
-2.00%
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
¥2.37bn
FY2017FY2026
Net income
−¥1.28bn
FY2017FY2026
Free cash flow
−¥490.9m
FY2017FY2026
Shareholders' equity
¥1.91bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.37bn | ¥2.25bn | ¥2.32bn | ¥1.99bn | ¥2.11bn | ¥2.21bn | ¥2.48bn | ¥3.68bn | ¥3.41bn | ¥3.40bn |
| Gross profit | ¥1.16bn | ¥1.17bn | ¥1.10bn | ¥972.4m | ¥1.10bn | ¥1.07bn | ¥1.35bn | ¥1.74bn | ¥1.70bn | ¥1.89bn |
| Research and development | — | ¥17.2m | ¥18.4m | ¥55.3m | ¥99.5m | ¥37.3m | ¥6.7m | ¥14.5m | ¥13.7m | ¥13.9m |
| Operating income | −¥911.5m | −¥237.4m | −¥172.3m | −¥241.6m | −¥671.2m | −¥529.9m | −¥873.3m | ¥321.7m | ¥44.9m | −¥246.3m |
| Net income | −¥1.28bn | −¥276.8m | −¥175.9m | −¥256.1m | −¥746.0m | −¥538.1m | −¥777.8m | ¥157.5m | −¥11.9m | −¥987.6m |
| Diluted earnings per share | -15.44 | -3.59 | -2.86 | -4.69 | -15.64 | -14.64 | -25.84 | 5.58 | -0.42 | -48.76 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.53bn | ¥3.25bn | ¥1.68bn | ¥1.45bn | ¥1.27bn | ¥1.07bn | ¥2.12bn | ¥3.36bn | ¥3.57bn | ¥1.49bn |
| Cash and short-term investments | ¥357.2m | ¥154.7m | ¥296.6m | ¥172.9m | ¥345.5m | ¥205.7m | ¥251.9m | ¥1.27bn | ¥1.69bn | ¥260.9m |
| Total liabilities | ¥621.1m | ¥777.4m | ¥477.0m | ¥350.6m | ¥802.2m | ¥392.6m | ¥1.37bn | ¥1.83bn | ¥1.71bn | ¥943.6m |
| Debt | ¥250.0m | ¥293.4m | −¥13.3m | −¥8.5m | ¥500.0m | — | — | ¥4.0m | — | ¥885,000 |
| Shareholders' equity | ¥1.91bn | ¥2.47bn | ¥1.20bn | ¥1.10bn | ¥469.7m | ¥673.1m | ¥743.4m | ¥1.52bn | ¥1.75bn | ¥503.3m |
| Shares outstanding | 83m | 77m | 61m | 55m | 48m | 37m | 30m | 28m | 28m | 20m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥435.5m | −¥538.5m | −¥76.6m | −¥352.4m | −¥835.6m | −¥502.4m | −¥345.0m | −¥209.5m | ¥154.2m | −¥135.9m |
| Capital spending | −¥55.4m | −¥519.4m | −¥82.7m | −¥115.1m | −¥19.9m | −¥34.4m | −¥18.0m | −¥10.8m | −¥12.0m | −¥85.8m |
| Free cash flow | −¥490.9m | −¥1.06bn | −¥159.3m | −¥467.5m | −¥855.4m | −¥536.8m | −¥363.0m | −¥220.3m | ¥142.2m | −¥221.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥587.6m | ¥576.1m | ¥528.2m | ¥666.6m | ¥599.4m | ¥576.8m | ¥553.0m | ¥633.8m |
| Gross profit | ¥341.1m | ¥228.5m | ¥268.9m | ¥329.6m | ¥330.0m | ¥306.6m | ¥278.5m | ¥323.3m |
| Operating income | −¥130.3m | −¥390.5m | −¥198.1m | −¥167.9m | −¥154.9m | −¥55.6m | −¥68.7m | −¥32.5m |
| Net income | −¥107.0m | −¥757.3m | −¥199.3m | −¥167.3m | −¥152.8m | −¥82.4m | −¥112.9m | −¥33.6m |
| Diluted earnings per share | -1.29 | -9.16 | -2.59 | -2.17 | -1.98 | -1.07 | -1.84 | -0.55 |
| Total assets | ¥2.22bn | ¥2.53bn | ¥3.52bn | ¥3.15bn | ¥3.31bn | ¥3.25bn | ¥2.75bn | ¥2.06bn |
| Cash and short-term investments | ¥49.9m | ¥357.2m | ¥137.2m | ¥97.5m | ¥56.8m | ¥154.7m | ¥131.8m | ¥189.8m |
| Debt | ¥50.0m | ¥250.0m | ¥129.1m | ¥272.5m | ¥135.2m | ¥293.4m | — | ¥330.0m |
| Shareholders' equity | ¥1.80bn | ¥1.91bn | ¥2.42bn | ¥2.51bn | ¥2.55bn | ¥2.47bn | ¥2.34bn | ¥1.36bn |
Financial ratios
Data as of 13 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 48.8% | 52.1% | 47.5% | 48.8% | 51.9% | 48.5% | — |
| Operating margin | -38.5% | -9.2% | -7.4% | -11.1% | -31.5% | -24.0% | — |
| Net margin | -53.9% | -12.3% | -7.6% | -12.9% | -35.3% | -24.4% | — |
| Return on equity | -67.0% | -11.2% | -14.6% | -23.3% | -158.8% | -79.9% | — |
| Return on assets | -50.5% | -8.5% | -10.5% | -17.7% | -58.7% | -50.5% | — |
| Free cash flow yield | -7.7% | -0.4% | 0.2% | -7.2% | -28.5% | -21.2% | — |
| Revenue growth | 5.2% | -2.9% | 16.5% | -5.8% | -4.3% | -11.1% | — |
| Earnings growth | 361.3% | 57.4% | -31.3% | -65.7% | 38.6% | -30.8% | — |
| Current ratio | 3.01x | 2.76x | 3.00x | 3.48x | 1.46x | 2.43x | — |
| Debt to equity | 0.13x | 0.12x | -0.01x | -0.01x | 1.06x | 0.00x | — |
| Equity ratio | 75.4% | 76.1% | 71.6% | 75.8% | 36.9% | 63.2% | — |
| Interest coverage | -134.32x | -71.02x | -200.14x | -214.56x | -173.82x | -916.87x | — |
| R&D as a share of sales | — | 0.8% | 0.8% | 2.8% | 4.7% | 1.7% | 0.3% |
| Buybacks as a share of market value | -7.3% | -25.3% | -12.6% | -14.5% | -29.7% | -22.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.0% | 1.4% | 0.8% |
| Operating income | 55.7% | 11.5% | 5.3% |
| Net income | 70.8% | 18.9% | 10.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 50.4% | 49.3% | 49.6% | 49.5% |
| Operating margin | -24.8% | -17.5% | -20.8% | -14.3% |
| Net margin | -33.6% | -22.2% | -24.7% | -18.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.2 | -16.4 | -38.1 | -33.9 | -3.5 | -4.8 | -5.4 | 26.9 | -402.2 | -3.0 |
| Price to sales | 1.7 | 2.0 | 2.9 | 4.4 | 1.2 | 1.2 | 1.7 | 1.1 | 1.4 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-for-1 split · 27 Mar 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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