C 
264
+2.72%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥10.32bn
FY2019FY2026
Net income
¥380.5m
FY2019FY2026
Free cash flow
¥789.7m
FY2019FY2026
Shareholders' equity
¥2.81bn
FY2019FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥10.32bn | ¥9.41bn | ¥6.59bn | ¥4.68bn | ¥3.84bn | ¥2.75bn | ¥1.78bn | ¥1.14bn |
| Operating income | ¥501.9m | ¥256.1m | ¥304.8m | −¥126.4m | −¥515.3m | ¥89.5m | −¥80.9m | −¥1.04bn |
| Net income | ¥380.5m | ¥306.9m | ¥243.7m | −¥75.9m | −¥494.4m | ¥41.1m | −¥94.0m | −¥1.05bn |
| Diluted earnings per share | 16.69 | 13.22 | 9.99 | -3.12 | -20.96 | 1.81 | -4.59 | -46.24 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.82bn | ¥6.33bn | ¥8.25bn | ¥5.23bn | ¥4.33bn | ¥4.06bn | ¥1.95bn | ¥1.10bn |
| Cash and short-term investments | ¥3.40bn | ¥2.94bn | ¥3.91bn | ¥2.99bn | ¥3.05bn | ¥3.32bn | ¥1.28bn | ¥740.3m |
| Total liabilities | ¥4.01bn | ¥3.91bn | ¥4.47bn | ¥2.11bn | ¥1.89bn | ¥1.73bn | ¥1.77bn | ¥838.6m |
| Debt | ¥1.23bn | ¥1.22bn | ¥1.46bn | ¥542.1m | — | — | ¥730.0m | ¥270.0m |
| Shareholders' equity | ¥2.81bn | ¥2.41bn | ¥2.45bn | ¥2.06bn | ¥2.00bn | ¥2.33bn | ¥171.5m | ¥265.5m |
| Shares outstanding | 23m | 23m | 24m | 24m | 24m | 23m | 20m | 23m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥832.5m | ¥255.1m | ¥618.4m | ¥114.2m | −¥419.8m | ¥764.3m | ¥274.4m | −¥1.01bn |
| Capital spending | −¥42.8m | −¥6.0m | −¥3.8m | −¥98.6m | −¥46.0m | −¥76.2m | −¥56.6m | −¥7.4m |
| Free cash flow | ¥789.7m | ¥249.1m | ¥614.6m | ¥15.7m | −¥465.8m | ¥688.1m | ¥217.7m | −¥1.01bn |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.67bn | ¥2.65bn | ¥2.52bn | ¥2.47bn | ¥2.35bn | ¥2.35bn | ¥2.34bn | ¥2.37bn |
| Operating income | ¥82.4m | ¥178.5m | ¥152.3m | ¥79.5m | −¥32.4m | ¥90.4m | ¥90.0m | ¥108.2m |
| Net income | ¥96.4m | ¥126.3m | ¥87.2m | ¥70.6m | ¥6.6m | ¥140.3m | ¥54.9m | ¥105.1m |
| Diluted earnings per share | 4.23 | 5.54 | 3.82 | 3.04 | 0.28 | 6.04 | 2.36 | 4.31 |
| Cash from operations | — | — | — | — | ¥255.0m | — | — | — |
| Capital spending | — | — | — | — | −¥5.0m | — | — | — |
| Free cash flow | — | — | — | — | ¥250.0m | — | — | — |
| Total assets | ¥6.82bn | ¥6.61bn | ¥6.35bn | ¥6.35bn | ¥6.33bn | ¥6.60bn | ¥6.60bn | ¥8.12bn |
| Cash and short-term investments | ¥3.40bn | ¥3.10bn | ¥3.01bn | ¥2.94bn | ¥2.94bn | ¥3.24bn | ¥3.46bn | ¥3.88bn |
| Debt | ¥267.2m | ¥267.2m | ¥1.11bn | ¥270.0m | ¥1.22bn | ¥230.0m | ¥1.34bn | ¥288.3m |
| Shareholders' equity | ¥2.81bn | ¥2.70bn | ¥2.56bn | ¥2.52bn | ¥2.41bn | ¥2.74bn | ¥2.60bn | ¥2.57bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 2.6% | 2.6% | -3.3% | -14.0% | 2.4% | -4.4% |
| Net margin | 3.3% | 3.7% | -1.6% | -12.9% | 1.5% | -5.3% |
| Return on equity | 12.7% | 10.0% | -3.7% | -24.7% | 1.8% | -54.8% |
| Return on assets | 4.9% | 3.0% | -1.5% | -11.4% | 1.0% | -4.8% |
| Free cash flow yield | 4.2% | 9.5% | 3.3% | -5.9% | 13.8% | 6.0% |
| Revenue growth | 42.8% | 40.8% | 21.9% | 39.7% | 54.7% | 56.0% |
| Earnings growth | 25.9% | -421.1% | -84.6% | -1303.3% | -143.7% | -91.1% |
| Current ratio | 1.53x | 1.69x | 1.77x | 1.89x | 2.17x | 0.95x |
| Debt to equity | 0.51x | 0.60x | 0.26x | 0.00x | 0.00x | 4.26x |
| Equity ratio | 38.1% | 29.6% | 39.3% | 46.2% | 57.4% | 8.8% |
| Interest coverage | 16.37x | 44.01x | -782.80x | -2343.98x | 10.12x | -13.65x |
| Buybacks as a share of market value | 4.8% | -0.2% | -3.2% | -4.0% | -10.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.2% | 30.3% | — |
| Operating income | — | 41.2% | — |
| Net income | — | 56.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.8% | 3.0% | 1.4% | — |
| Net margin | 3.5% | 2.8% | 1.1% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Price to earnings | 16.7 | 24.9 | 37.6 | -124.2 | -23.2 | — |
| Price to sales | 0.6 | 0.8 | 1.4 | 2.0 | 3.0 | 13.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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