N 
164
+8.61%
Close of 9 Nov 2026, in JPY
Search any instrument
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
¥3.30bn
FY2018FY2025
Net income
−¥107.7m
FY2018FY2025
Free cash flow
¥149.4m
FY2018FY2025
Shareholders' equity
¥1.88bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.30bn | ¥3.56bn | ¥3.18bn | ¥2.88bn | ¥1.01bn | ¥762.8m | ¥311.5m | ¥60.2m |
| Research and development | ¥108.0m | ¥157.3m | ¥198.3m | ¥259.1m | ¥176.8m | ¥91.6m | ¥71.2m | ¥121.9m |
| Operating income | −¥6.7m | ¥35.6m | −¥717.9m | −¥312.0m | ¥20.2m | ¥170.8m | −¥133.0m | −¥182.8m |
| Net income | −¥107.7m | −¥60.9m | −¥650.1m | −¥909.2m | ¥11.3m | ¥147.4m | −¥139.4m | −¥182.6m |
| Diluted earnings per share | -6.58 | -3.97 | -42.91 | -62.97 | 0.79 | 10.53 | -8.11 | -10.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.20bn | ¥2.98bn | ¥3.41bn | ¥3.89bn | ¥2.42bn | ¥1.92bn | ¥1.06bn | ¥318.8m |
| Cash and short-term investments | ¥2.22bn | ¥670.1m | ¥821.2m | ¥1.11bn | ¥1.43bn | ¥1.42bn | ¥825.8m | ¥210.5m |
| Total liabilities | ¥2.31bn | ¥2.36bn | ¥2.94bn | ¥3.46bn | ¥1.10bn | ¥714.5m | ¥431.1m | ¥160.4m |
| Debt | ¥1.91bn | ¥1.88bn | ¥2.42bn | ¥2.85bn | ¥961.4m | ¥564.8m | ¥378.2m | ¥120.0m |
| Shareholders' equity | ¥1.88bn | ¥614.2m | ¥466.6m | ¥432.4m | ¥1.32bn | ¥1.21bn | ¥625.9m | ¥158.3m |
| Shares outstanding | 16m | 15m | 15m | 14m | 14m | 14m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥150.2m | ¥194.6m | −¥387.0m | −¥318.2m | −¥788,000 | ¥138.4m | −¥198.7m | −¥158.5m |
| Capital spending | −¥767,000 | −¥949,000 | −¥64.4m | −¥137.1m | −¥254.9m | −¥141.5m | −¥16.9m | −¥19.2m |
| Free cash flow | ¥149.4m | ¥193.6m | −¥451.4m | −¥455.4m | −¥255.7m | −¥3.1m | −¥215.7m | −¥177.8m |
| Dividends paid | — | — | — | — | −¥400.0m | −¥190.0m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.10bn | ¥676.8m | ¥763.9m | ¥822.4m | ¥887.2m | ¥825.5m | ¥995.9m | ¥908.0m |
| Operating income | −¥113.7m | −¥238.0m | −¥31.5m | ¥23.5m | ¥10.9m | −¥9.6m | ¥117.6m | ¥23.3m |
| Net income | −¥153.6m | −¥188.2m | −¥54.8m | −¥14.4m | −¥8.8m | −¥29.6m | ¥92.6m | −¥9.0m |
| Diluted earnings per share | -8.94 | -10.95 | -3.35 | -0.88 | -0.54 | -1.81 | 6.04 | -0.59 |
| Total assets | ¥4.45bn | ¥4.44bn | ¥4.20bn | ¥4.18bn | ¥2.95bn | ¥2.72bn | ¥2.98bn | ¥2.83bn |
| Cash and short-term investments | ¥1.54bn | ¥2.12bn | ¥2.22bn | ¥2.14bn | ¥847.7m | ¥523.5m | ¥670.1m | ¥548.4m |
| Debt | ¥2.16bn | ¥1.07bn | ¥1.91bn | ¥1.04bn | ¥1.99bn | ¥1.10bn | ¥1.12bn | ¥1.19bn |
| Shareholders' equity | ¥1.52bn | ¥1.68bn | ¥1.88bn | ¥1.94bn | ¥593.7m | ¥600.0m | ¥614.2m | ¥521.0m |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -0.2% | 1.0% | -20.7% | -10.8% | 2.0% | 22.4% |
| Net margin | -3.3% | -1.7% | -20.5% | -31.6% | 1.1% | 19.3% |
| Return on equity | -5.7% | -9.9% | -139.3% | -210.2% | 0.9% | 12.2% |
| Return on assets | -2.6% | -2.0% | -19.1% | -23.4% | 0.5% | 7.7% |
| Free cash flow yield | 4.6% | 6.4% | -10.6% | -6.3% | 8.9% | 10.0% |
| Revenue growth | -7.5% | 12.2% | 10.4% | 185.0% | 32.4% | 144.9% |
| Earnings growth | 76.7% | -90.6% | -28.5% | -8169.4% | -92.4% | -205.7% |
| Current ratio | 2.08x | 0.99x | 1.00x | 1.26x | 1.78x | 2.77x |
| Debt to equity | 1.02x | 3.05x | 5.19x | 6.60x | 0.73x | 0.47x |
| Equity ratio | 44.7% | 20.6% | 13.7% | 11.1% | 54.7% | 62.8% |
| Interest coverage | -0.24x | 1.83x | -28.09x | -11.85x | 3.65x | 27.93x |
| R&D as a share of sales | 3.3% | 4.4% | 6.2% | 9.0% | 17.5% | 12.0% |
| Buybacks as a share of market value | -6.7% | -1.3% | -4.9% | -1.0% | -2.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.6% | 34.0% | — |
| Operating income | -72.3% | — | — |
| Net income | -50.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 0.4% | -7.7% | -5.5% | — |
| Net margin | -2.5% | -13.4% | -10.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -59.1 | -195.4 | -25.8 | -15.3 | — | — |
| Price to sales | 1.9 | 3.3 | 5.3 | 4.8 | 21.0 | 108.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.