S 
387
+2.93%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥2.75bn
FY2016FY2025
Net income
−¥23.7m
FY2016FY2025
Free cash flow
¥494.2m
FY2016FY2025
Shareholders' equity
¥986.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.75bn | ¥3.21bn | ¥2.93bn | ¥2.46bn | ¥2.20bn | ¥1.79bn | ¥1.86bn | ¥1.80bn | ¥1.59bn | ¥1.53bn |
| Gross profit | ¥1.81bn | ¥1.93bn | ¥1.83bn | ¥1.59bn | ¥1.37bn | ¥1.10bn | ¥1.08bn | ¥1.00bn | ¥869.3m | ¥875.3m |
| Operating income | ¥103.5m | −¥51.6m | −¥262.4m | −¥327.9m | ¥11.4m | ¥40.1m | ¥36.2m | −¥31.3m | −¥48.8m | ¥46.4m |
| Net income | −¥23.7m | −¥101.6m | −¥445.7m | −¥365.9m | ¥107.9m | ¥56.3m | ¥24.2m | −¥31.3m | −¥326.0m | ¥36.8m |
| Diluted earnings per share | -5.01 | -31.95 | -140.43 | -124.69 | 36.26 | 18.88 | 8.68 | -11.25 | -118.23 | 15.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.00bn | ¥2.17bn | ¥2.02bn | ¥1.84bn | ¥1.69bn | ¥1.32bn | ¥991.5m | ¥1.04bn | ¥1.03bn | ¥1.04bn |
| Cash and short-term investments | ¥1.01bn | ¥763.1m | ¥400.9m | ¥264.2m | ¥491.1m | ¥438.7m | ¥177.6m | ¥184.9m | ¥234.4m | ¥137.4m |
| Total liabilities | ¥1.01bn | ¥2.22bn | ¥1.98bn | ¥1.56bn | ¥1.04bn | ¥790.6m | ¥635.6m | ¥711.0m | ¥668.6m | ¥599.4m |
| Debt | ¥97.1m | ¥1.39bn | ¥1.13bn | ¥744.6m | ¥564.4m | ¥454.7m | ¥398.7m | ¥468.9m | ¥411.9m | ¥391.4m |
| Shareholders' equity | ¥986.3m | −¥52.5m | ¥39.5m | ¥285.4m | ¥645.9m | ¥533.3m | ¥355.9m | ¥330.7m | ¥357.3m | ¥443.7m |
| Shares outstanding | 5m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥593.8m | ¥226.6m | −¥148.8m | −¥3.9m | ¥183.7m | ¥235.1m | ¥213.4m | ¥54.4m | ¥60.9m | ¥90.4m |
| Capital spending | −¥99.6m | −¥1.2m | −¥2.3m | −¥21.5m | −¥195.6m | −¥130.8m | −¥6.6m | −¥4.4m | −¥4.6m | −¥64.9m |
| Free cash flow | ¥494.2m | ¥225.5m | −¥151.0m | −¥25.4m | −¥11.9m | ¥104.2m | ¥206.8m | ¥50.0m | ¥56.3m | ¥25.5m |
| Dividends paid | — | — | — | — | −¥250.0m | −¥220.0m | — | — | −¥246.8m | — |
Latest quarters
By quarter end
| Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | Jul 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥697.0m | ¥744.6m | ¥642.9m | ¥661.3m | ¥766.1m | ¥670.0m | ¥931.1m | ¥794.2m |
| Gross profit | ¥470.7m | ¥528.8m | ¥437.0m | ¥448.4m | ¥498.6m | ¥413.0m | ¥576.7m | ¥461.5m |
| Operating income | ¥137.4m | ¥174.3m | ¥53.8m | ¥21.3m | ¥29.4m | −¥50.5m | ¥82.4m | −¥40.5m |
| Net income | ¥236.6m | ¥159.7m | ¥64.3m | ¥9.3m | ¥2.1m | −¥159.4m | ¥34.5m | −¥42.0m |
| Diluted earnings per share | 39.93 | 26.95 | 13.57 | 1.96 | 0.44 | -33.64 | 10.85 | -13.19 |
| Cash from operations | — | — | ¥593.0m | — | — | — | — | — |
| Capital spending | — | — | −¥99.0m | — | — | — | — | — |
| Free cash flow | — | — | ¥494.0m | — | — | — | — | — |
| Total assets | ¥2.40bn | ¥1.88bn | ¥1.94bn | ¥1.93bn | ¥1.70bn | ¥1.71bn | ¥2.17bn | ¥2.44bn |
| Cash and short-term investments | ¥1.29bn | ¥847.8m | ¥1.03bn | ¥992.4m | ¥737.7m | ¥621.3m | ¥763.1m | ¥843.1m |
| Debt | ¥65.0m | ¥70.7m | ¥62.7m | ¥125.1m | ¥170.5m | ¥125.4m | ¥153.3m | ¥178.7m |
| Shareholders' equity | ¥1.38bn | ¥1.15bn | ¥929.4m | ¥861.1m | ¥852.0m | ¥851.7m | −¥52.5m | −¥86.4m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 66.0% | 60.2% | 62.2% | 64.8% | 62.3% | 61.5% | — |
| Operating margin | 0.9% | -2.7% | -13.7% | -13.0% | 2.6% | 2.2% | — |
| Net margin | -0.9% | -3.2% | -15.2% | -14.9% | 4.9% | 3.2% | — |
| Return on equity | -2.4% | 193.4% | -1127.3% | -128.2% | 16.7% | 10.6% | — |
| Return on assets | -1.2% | -4.7% | -22.0% | -19.9% | 6.4% | 4.3% | — |
| Free cash flow yield | 33.8% | 16.5% | -10.7% | 1.4% | 29.4% | 28.3% | — |
| Revenue growth | -14.2% | 9.3% | 19.5% | 11.8% | 23.0% | -3.8% | — |
| Earnings growth | -76.7% | -77.2% | 21.8% | -439.1% | 91.6% | 132.9% | — |
| Current ratio | 1.43x | 1.39x | 1.06x | 0.74x | 1.47x | 1.57x | — |
| Debt to equity | 0.06x | -26.43x | 28.68x | 2.61x | 0.87x | 0.85x | — |
| Equity ratio | 49.4% | -2.4% | 2.0% | 15.5% | 38.2% | 40.3% | — |
| Interest coverage | 2.73x | -9.28x | -30.46x | -59.36x | 14.44x | 9.49x | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% |
| Buybacks as a share of market value | -49.0% | -0.2% | -8.2% | 1.4% | 0.2% | -7.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.8% | 9.0% | 6.9% |
| Operating income | — | 20.9% | 12.2% |
| Net income | -59.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 62.9% | 63.1% | 62.8% | 60.6% |
| Operating margin | 0.9% | -4.7% | -3.2% | -1.9% |
| Net margin | -2.1% | -8.3% | -5.0% | -4.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -73.3 | -17.6 | -2.9 | -5.4 | 49.4 | 52.8 | 102.5 | -44.2 | -9.0 |
| Price to sales | 0.6 | 0.6 | 0.4 | 0.8 | 2.4 | 1.7 | 1.3 | 0.8 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 28 Apr 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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