E 
630
+5.88%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥8.96bn
FY2017FY2026
Net income
−¥168.5m
FY2017FY2026
Free cash flow
−¥43.3m
FY2017FY2026
Shareholders' equity
¥1.84bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥8.96bn | ¥7.32bn | ¥6.54bn | ¥4.69bn | ¥2.68bn | ¥1.99bn | ¥1.96bn | ¥1.66bn | ¥1.61bn | ¥1.38bn |
| Research and development | ¥1.3m | — | ¥1.5m | ¥12.8m | ¥40.0m | ¥53.0m | ¥10.8m | — | ¥8.0m | — |
| Operating income | ¥431.4m | ¥93.3m | ¥182.1m | ¥202.5m | ¥80.4m | −¥333.6m | ¥189.4m | ¥39.0m | ¥71.7m | ¥183.6m |
| Net income | −¥168.5m | −¥860.4m | ¥257.3m | ¥42.6m | ¥127.8m | −¥529.5m | ¥86.3m | −¥63.6m | ¥31.9m | ¥104.0m |
| Diluted earnings per share | -27.25 | -139.15 | 42.65 | 7.06 | 21.21 | -100.34 | 16.51 | -12.34 | 6.21 | 20.19 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥7.13bn | ¥7.39bn | ¥6.90bn | ¥6.01bn | ¥2.47bn | ¥2.43bn | ¥2.06bn | ¥1.83bn | ¥1.80bn | ¥1.93bn |
| Cash and short-term investments | ¥1.83bn | ¥2.52bn | ¥1.56bn | ¥1.66bn | ¥1.27bn | ¥1.07bn | ¥1.32bn | ¥1.20bn | ¥1.23bn | ¥1.45bn |
| Total liabilities | ¥5.25bn | ¥5.52bn | ¥4.29bn | ¥3.67bn | ¥1.07bn | ¥1.16bn | ¥359.7m | ¥221.9m | ¥161.0m | ¥353.3m |
| Debt | ¥3.71bn | ¥4.21bn | ¥3.33bn | ¥2.71bn | ¥732.0m | ¥804.0m | ¥38.3m | ¥27.5m | ¥15.0m | ¥41.7m |
| Shareholders' equity | ¥1.84bn | ¥1.84bn | ¥2.61bn | ¥2.34bn | ¥1.40bn | ¥1.27bn | ¥1.70bn | ¥1.61bn | ¥1.64bn | ¥1.57bn |
| Shares outstanding | 6m | 6m | 6m | 6m | 6m | 5m | 5m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥14.9m | ¥587.7m | −¥76,000 | ¥715.1m | ¥190.8m | −¥412.4m | ¥217.0m | ¥143.8m | −¥41.5m | ¥185.8m |
| Capital spending | −¥28.3m | −¥127.5m | −¥184.8m | −¥149.1m | −¥71.6m | −¥16.8m | −¥6.0m | −¥16.9m | −¥162.5m | −¥27.6m |
| Free cash flow | −¥43.3m | ¥460.2m | −¥184.9m | ¥566.0m | ¥119.2m | −¥429.3m | ¥211.0m | ¥126.9m | −¥204.0m | ¥158.2m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.34bn | ¥2.11bn | ¥2.39bn | ¥2.45bn | ¥2.23bn | ¥1.89bn | ¥2.08bn | ¥1.84bn |
| Operating income | ¥70.1m | ¥65.4m | ¥337.9m | ¥1.1m | ¥47.8m | ¥44.0m | ¥43.0m | ¥111.0m |
| Net income | ¥49.2m | −¥68.8m | −¥181.4m | −¥368,000 | ¥4.8m | ¥8.0m | −¥819.0m | ¥53.0m |
| Diluted earnings per share | 7.96 | -11.13 | -29.34 | -0.06 | 0.77 | 1.29 | -132.45 | 8.78 |
| Total assets | ¥5.44bn | ¥6.07bn | ¥7.13bn | ¥7.13bn | ¥7.30bn | ¥7.13bn | ¥7.39bn | ¥8.00bn |
| Cash and short-term investments | ¥1.43bn | ¥1.89bn | ¥1.83bn | ¥2.06bn | ¥2.19bn | ¥2.29bn | ¥2.52bn | ¥2.38bn |
| Debt | ¥1.24bn | ¥1.79bn | ¥3.71bn | ¥1.81bn | ¥1.94bn | ¥1.66bn | ¥1.95bn | ¥1.75bn |
| Shareholders' equity | ¥1.79bn | ¥1.79bn | ¥1.84bn | ¥2.03bn | ¥2.00bn | ¥1.90bn | ¥1.84bn | ¥2.58bn |
Financial ratios
Data as of 19 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 1.6% | -9.0% | 1.7% | 3.2% | 5.8% | -25.4% | — |
| Net margin | -1.9% | -11.8% | 3.9% | 0.9% | 4.8% | -26.6% | — |
| Return on equity | -9.1% | -46.7% | 9.9% | 1.8% | 9.1% | -41.6% | — |
| Return on assets | -2.4% | -11.6% | 3.7% | 0.7% | 5.2% | -21.8% | — |
| Free cash flow yield | 0.3% | 16.4% | 4.3% | 20.3% | 6.2% | -10.6% | — |
| Revenue growth | 22.4% | 12.0% | 39.5% | 74.7% | 34.8% | 1.3% | — |
| Earnings growth | -80.4% | -434.4% | 503.4% | -66.6% | -124.1% | -713.7% | — |
| Current ratio | 1.28x | 1.32x | 1.44x | 1.87x | 4.13x | 3.32x | — |
| Debt to equity | 2.01x | 2.29x | 1.27x | 1.16x | 0.52x | 0.63x | — |
| Equity ratio | 25.9% | 24.9% | 37.8% | 38.9% | 56.7% | 52.4% | — |
| Interest coverage | 2.52x | -20.40x | 4.10x | 9.54x | 34.37x | -1426.01x | — |
| R&D as a share of sales | 0.0% | — | 0.0% | 0.3% | 1.5% | 2.7% | 0.5% |
| Buybacks as a share of market value | 0.0% | -2.5% | 0.1% | -0.2% | -14.2% | -1.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 24.1% | 35.1% | 25.0% |
| Operating income | 28.7% | — | 12.3% |
| Net income | — | -20.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.2% | 3.3% | 2.0% | 3.2% |
| Net margin | -6.3% | -2.7% | -3.5% | -2.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -23.2 | -4.7 | 15.5 | 109.9 | 38.5 | -9.4 | 68.2 | -154.7 | 321.5 | 97.2 |
| Price to sales | 0.4 | 0.6 | 0.6 | 1.0 | 1.8 | 2.5 | 3.0 | 5.9 | 6.4 | 7.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 29 May 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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