F 
883
+6.26%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥5.64bn
FY2017FY2026
Net income
¥308.5m
FY2017FY2026
Free cash flow
¥214.8m
FY2017FY2026
Shareholders' equity
¥2.15bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.64bn | ¥4.37bn | ¥3.08bn | ¥2.34bn | ¥1.68bn | ¥1.08bn | ¥1.05bn | ¥909.4m | ¥678.6m | ¥609.7m |
| Gross profit | ¥1.56bn | ¥1.30bn | ¥1.01bn | ¥901.6m | ¥745.1m | ¥553.8m | ¥527.3m | ¥453.2m | ¥363.5m | ¥297.8m |
| Research and development | — | — | — | — | — | — | ¥1.3m | ¥2.5m | ¥4.7m | ¥2.8m |
| Operating income | ¥203.7m | ¥187.4m | ¥21.7m | ¥58.7m | −¥57.2m | −¥101.4m | −¥59.1m | ¥16.9m | −¥15.9m | −¥110.7m |
| Net income | ¥308.5m | ¥109.5m | ¥27.0m | ¥26.8m | −¥29.4m | −¥174.2m | −¥68.6m | ¥23.2m | ¥14.0m | −¥357.7m |
| Diluted earnings per share | 53.34 | 20.48 | 5.13 | 5.15 | -5.51 | -32.63 | -13.03 | 5.49 | 3.32 | -86.75 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥7.87bn | ¥5.60bn | ¥4.35bn | ¥3.23bn | ¥2.23bn | ¥2.04bn | ¥1.17bn | ¥1.19bn | ¥1.01bn | ¥936.5m |
| Cash and short-term investments | ¥2.10bn | ¥1.67bn | ¥1.43bn | ¥1.42bn | ¥1.34bn | ¥1.53bn | ¥622.9m | ¥736.9m | ¥840.8m | ¥761.0m |
| Total liabilities | ¥5.56bn | ¥3.87bn | ¥2.98bn | ¥1.80bn | ¥839.0m | ¥804.4m | ¥773.5m | ¥736.5m | ¥590.9m | ¥564.9m |
| Debt | ¥927.0m | ¥363.0m | ¥67.5m | ¥84.0m | — | ¥50.0m | ¥50.0m | ¥50.0m | ¥40.0m | ¥40.0m |
| Shareholders' equity | ¥2.15bn | ¥1.54bn | ¥1.34bn | ¥1.41bn | ¥1.38bn | ¥1.23bn | ¥394.3m | ¥450.8m | ¥417.7m | ¥371.6m |
| Shares outstanding | 6m | 5m | 5m | 5m | 5m | 5m | 5m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥351.2m | ¥98.6m | ¥238.6m | ¥36.3m | −¥92.0m | −¥79.7m | ¥11.9m | ¥8.8m | ¥44.6m | −¥110.4m |
| Capital spending | −¥136.4m | −¥12.6m | −¥4.6m | −¥10.0m | −¥6.3m | −¥3.7m | −¥12.7m | −¥82.2m | −¥1.6m | −¥4.4m |
| Free cash flow | ¥214.8m | ¥86.1m | ¥234.0m | ¥26.2m | −¥98.4m | −¥83.4m | −¥717,000 | −¥73.4m | ¥43.0m | −¥114.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.69bn | ¥1.52bn | ¥1.43bn | ¥1.39bn | ¥1.30bn | ¥1.28bn | ¥1.21bn | ¥922.5m |
| Gross profit | ¥517.5m | ¥402.6m | ¥395.4m | ¥379.7m | ¥381.8m | ¥349.2m | ¥367.0m | ¥290.0m |
| Operating income | ¥83.5m | ¥6.2m | ¥76.9m | ¥84.3m | ¥36.3m | ¥79.9m | ¥72.1m | ¥22.6m |
| Net income | ¥70.0m | −¥25.0m | ¥45.1m | ¥43.1m | ¥245.4m | ¥88.6m | ¥29.2m | −¥5.2m |
| Diluted earnings per share | 12.10 | -4.32 | 8.44 | 8.07 | 45.91 | 16.58 | 5.55 | -0.98 |
| Total assets | ¥8.35bn | ¥7.87bn | ¥7.40bn | ¥7.13bn | ¥8.28bn | ¥5.60bn | ¥5.67bn | ¥5.42bn |
| Cash and short-term investments | ¥2.11bn | ¥2.10bn | ¥1.93bn | ¥1.88bn | ¥1.93bn | ¥1.67bn | ¥1.65bn | ¥1.41bn |
| Debt | ¥328.9m | ¥927.0m | ¥189.8m | ¥619.3m | ¥288.3m | ¥363.0m | ¥90.5m | ¥411.8m |
| Shareholders' equity | ¥2.15bn | ¥2.15bn | ¥2.22bn | ¥2.34bn | ¥3.01bn | ¥1.54bn | ¥1.45bn | ¥1.34bn |
Financial ratios
Data as of 13 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 27.6% | 29.8% | 32.9% | 38.6% | 44.3% | 51.1% | — | — | — | — | — | — |
| Operating margin | 10.5% | 3.8% | 1.0% | 2.3% | -2.8% | -9.4% | — | — | — | — | — | — |
| Net margin | 5.5% | 2.5% | 0.9% | 1.1% | -1.7% | -16.1% | — | — | — | — | — | — |
| Return on equity | 14.3% | 7.1% | 2.0% | 1.9% | -2.1% | -14.1% | — | — | — | — | — | — |
| Return on assets | 3.9% | 2.0% | 0.6% | 0.8% | -1.3% | -8.5% | — | — | — | — | — | — |
| Free cash flow yield | 6.9% | 1.7% | 3.8% | 0.7% | -1.3% | -1.2% | — | — | — | — | — | — |
| Revenue growth | 29.0% | 42.2% | 31.5% | 39.0% | 55.3% | 3.4% | — | — | — | — | — | — |
| Earnings growth | 181.9% | 305.2% | 0.8% | -191.1% | -83.1% | 154.0% | — | — | — | — | — | — |
| Current ratio | 1.35x | 1.82x | 1.96x | 2.76x | 3.70x | 4.81x | — | — | — | — | — | — |
| Debt to equity | 0.43x | 0.24x | 0.05x | 0.06x | 0.00x | 0.04x | — | — | — | — | — | — |
| Equity ratio | 27.4% | 27.4% | 30.8% | 43.5% | 61.7% | 60.5% | — | — | — | — | — | — |
| Interest coverage | 67.53x | 58.95x | 90.31x | 872.46x | -168.89x | -223.42x | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.1% | 0.3% | 0.7% | 0.5% | 1.3% | 0.4% |
| Buybacks as a share of market value | -8.2% | -1.5% | -1.2% | 2.5% | 0.0% | -1.4% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 34.1% | 39.1% | 19.1% |
| Operating income | 51.4% | — | 4.6% |
| Net income | 125.8% | — | 15.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.6% | 31.0% | 33.4% | 36.7% |
| Operating margin | 3.9% | 3.1% | 1.7% | 1.2% |
| Net margin | 4.2% | 3.1% | 1.5% | -0.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.7 | 38.7 | 130.3 | 111.1 | -120.9 | -23.4 | -71.0 | 171.3 | 366.1 | -12.3 |
| Price to sales | 0.9 | 1.0 | 1.1 | 1.3 | 2.1 | 3.8 | 4.7 | 4.4 | 7.5 | 7.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | |
|---|---|
| Paid in the year | 15.00 |
- 2-for-1 split · 28 Jun 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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