K 
100
+4.17%
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
¥4.35bn
FY2018FY2025
Net income
¥29.8m
FY2018FY2025
Free cash flow
¥272.3m
FY2018FY2025
Shareholders' equity
¥2.98bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.35bn | ¥4.52bn | ¥4.34bn | ¥2.67bn | ¥2.26bn | ¥1.69bn | ¥1.35bn | ¥988.2m |
| Gross profit | ¥1.40bn | ¥1.37bn | ¥1.33bn | ¥955.1m | ¥934.2m | ¥822.2m | ¥582.1m | ¥267.6m |
| Operating income | ¥29.2m | −¥28.5m | −¥25.7m | −¥207.0m | ¥45.7m | ¥45.5m | −¥162.3m | −¥472.6m |
| Net income | ¥29.8m | −¥172.0m | −¥21.7m | −¥285.8m | −¥101.7m | ¥107.4m | −¥164.6m | −¥459.4m |
| Diluted earnings per share | 1.77 | -10.14 | -1.29 | -17.11 | -6.21 | 6.96 | -9.66 | -26.97 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.27bn | ¥4.42bn | ¥4.37bn | ¥5.24bn | ¥4.36bn | ¥3.39bn | ¥1.39bn | ¥722.8m |
| Cash and short-term investments | ¥2.97bn | ¥2.91bn | ¥2.54bn | ¥3.34bn | ¥3.01bn | ¥2.66bn | ¥930.1m | ¥381.1m |
| Total liabilities | ¥1.29bn | ¥1.46bn | ¥1.18bn | ¥1.96bn | ¥1.01bn | ¥534.2m | ¥233.0m | ¥231.6m |
| Debt | ¥716.5m | ¥914.7m | ¥598.8m | ¥1.34bn | ¥671.0m | ¥250.0m | — | ¥75.0m |
| Shareholders' equity | ¥2.98bn | ¥2.96bn | ¥3.15bn | ¥3.18bn | ¥3.28bn | ¥2.85bn | ¥1.15bn | ¥488.5m |
| Shares outstanding | 17m | 17m | 17m | 17m | 16m | 15m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥287.1m | ¥216.6m | ¥78.5m | ¥127.6m | ¥16.4m | ¥120.0m | −¥68.3m | −¥448.8m |
| Capital spending | −¥14.8m | −¥49.1m | −¥97.9m | −¥217.8m | −¥265.5m | −¥208.7m | −¥139.2m | −¥70.8m |
| Free cash flow | ¥272.3m | ¥167.5m | −¥19.4m | −¥90.2m | −¥249.0m | −¥88.6m | −¥207.5m | −¥519.6m |
| Dividends paid | — | — | −¥1,000 | −¥484.0m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥981.2m | ¥1.06bn | ¥1.10bn | ¥1.11bn | ¥1.05bn | ¥1.10bn | ¥1.14bn | ¥1.14bn |
| Gross profit | ¥277.4m | ¥293.4m | ¥337.9m | ¥378.9m | ¥337.3m | ¥342.7m | ¥359.0m | ¥354.0m |
| Operating income | −¥63.7m | −¥53.8m | −¥38.9m | ¥53.4m | ¥5.0m | ¥9.6m | ¥2.0m | ¥15.0m |
| Net income | −¥81.7m | −¥62.7m | −¥26.2m | ¥44.1m | −¥7.9m | ¥19.8m | −¥120.0m | ¥1.0m |
| Diluted earnings per share | -4.80 | -3.68 | -1.56 | 2.62 | -0.47 | 1.18 | -7.08 | 0.06 |
| Total assets | ¥4.00bn | ¥4.18bn | ¥4.27bn | ¥4.23bn | ¥4.21bn | ¥4.43bn | ¥4.42bn | ¥4.22bn |
| Cash and short-term investments | ¥2.76bn | ¥2.82bn | ¥2.97bn | ¥2.83bn | ¥2.84bn | ¥2.89bn | ¥2.91bn | ¥2.51bn |
| Debt | ¥613.2m | ¥200.0m | ¥716.5m | ¥198.3m | ¥811.4m | ¥298.3m | ¥202.4m | ¥276.2m |
| Shareholders' equity | ¥2.90bn | ¥2.95bn | ¥2.98bn | ¥2.95bn | ¥2.88bn | ¥2.91bn | ¥2.96bn | ¥3.12bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.1% | 30.3% | 30.7% | 35.8% | 41.3% | 48.8% |
| Operating margin | 1.2% | -2.3% | 0.6% | -7.8% | -0.9% | 1.9% |
| Net margin | 0.7% | -3.8% | -0.5% | -10.7% | -4.5% | 6.4% |
| Return on equity | 1.0% | -5.8% | -0.7% | -9.0% | -3.1% | 3.8% |
| Return on assets | 0.7% | -3.9% | -0.5% | -5.5% | -2.3% | 3.2% |
| Free cash flow yield | 17.4% | 15.2% | 10.2% | 20.1% | 16.7% | 20.7% |
| Revenue growth | -3.7% | 4.2% | 62.8% | 18.0% | 34.0% | 24.5% |
| Earnings growth | -117.3% | 692.7% | -92.4% | 181.1% | -194.7% | -165.3% |
| Current ratio | 4.64x | 4.91x | 3.90x | 2.95x | 10.17x | 10.24x |
| Debt to equity | 0.24x | 0.31x | 0.19x | 0.42x | 0.20x | 0.09x |
| Equity ratio | 69.9% | 66.9% | 72.1% | 60.8% | 75.3% | 84.2% |
| Interest coverage | 4.09x | -12.37x | 1.92x | -20.61x | -3.00x | 19.13x |
| Buybacks as a share of market value | 0.9% | -0.6% | -1.0% | -2.1% | -6.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.7% | 20.9% | — |
| Operating income | — | -8.5% | — |
| Net income | — | -22.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.2% | 31.8% | 34.4% | — |
| Operating margin | 0.0% | -1.5% | -0.7% | — |
| Net margin | -1.6% | -2.8% | -2.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 97.5 | -16.8 | -205.2 | -21.1 | -94.2 | 201.5 |
| Price to sales | 0.7 | 0.6 | 1.0 | 2.3 | 4.2 | 12.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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