A 
1,450
+8.78%
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
¥43.74bn
FY2018FY2025
Net income
¥2.56bn
FY2018FY2025
Free cash flow
¥3.25bn
FY2018FY2025
Shareholders' equity
¥37.15bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥43.74bn | ¥34.06bn | ¥26.42bn | ¥19.43bn | ¥12.66bn | ¥8.97bn | ¥7.22bn | ¥6.29bn |
| Gross profit | ¥19.64bn | ¥17.80bn | ¥13.71bn | ¥10.00bn | ¥6.24bn | ¥4.13bn | ¥2.92bn | ¥2.63bn |
| Research and development | ¥5.34bn | ¥4.65bn | ¥3.14bn | ¥2.28bn | ¥1.71bn | ¥1.49bn | ¥1.78bn | ¥1.41bn |
| Operating income | ¥2.89bn | ¥1.98bn | ¥800.6m | ¥263.7m | −¥1.13bn | −¥1.58bn | −¥2.36bn | −¥1.91bn |
| Net income | ¥2.56bn | ¥2.93bn | ¥1.00bn | ¥21.3m | −¥1.18bn | −¥1.45bn | −¥2.35bn | −¥1.95bn |
| Diluted earnings per share | 25.06 | 28.54 | 9.74 | 0.21 | -11.67 | -15.96 | -25.89 | -19.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥60.50bn | ¥44.64bn | ¥37.85bn | ¥35.94bn | ¥31.21bn | ¥12.39bn | ¥12.14bn | ¥3.31bn |
| Cash and short-term investments | ¥14.30bn | ¥12.22bn | ¥14.14bn | ¥17.74bn | ¥21.50bn | ¥8.21bn | ¥9.26bn | ¥627.1m |
| Total liabilities | ¥23.35bn | ¥10.32bn | ¥8.76bn | ¥9.74bn | ¥8.37bn | ¥4.73bn | ¥18.65bn | ¥7.56bn |
| Debt | ¥11.11bn | ¥3.78bn | ¥3.35bn | ¥5.06bn | ¥7.71bn | ¥2.55bn | ¥17.02bn | ¥5.99bn |
| Shareholders' equity | ¥37.15bn | ¥34.31bn | ¥29.09bn | ¥26.20bn | ¥22.84bn | ¥7.67bn | −¥6.51bn | −¥4.25bn |
| Shares outstanding | 102m | 103m | 103m | 102m | 101m | 91m | 91m | 102m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥3.27bn | ¥1.93bn | ¥2.22bn | ¥995.9m | −¥746.8m | −¥839.8m | −¥1.81bn | −¥1.55bn |
| Capital spending | −¥20.0m | −¥74.0m | −¥117.8m | −¥97.6m | −¥102.8m | −¥20.6m | −¥52.6m | −¥118.2m |
| Free cash flow | ¥3.25bn | ¥1.85bn | ¥2.11bn | ¥898.2m | −¥849.6m | −¥860.4m | −¥1.86bn | −¥1.66bn |
| Dividends paid | −¥203.0m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥12.85bn | ¥12.10bn | ¥12.70bn | ¥11.37bn | ¥10.31bn | ¥9.35bn | ¥9.48bn | ¥9.05bn |
| Gross profit | ¥6.51bn | ¥5.38bn | ¥5.69bn | ¥6.16bn | ¥4.87bn | ¥3.93bn | ¥4.94bn | ¥5.54bn |
| Operating income | ¥1.33bn | ¥77.0m | ¥937.0m | ¥897.0m | ¥743.0m | ¥12.0m | ¥699.0m | ¥714.0m |
| Net income | ¥1.33bn | ¥69.0m | ¥897.0m | ¥1.07bn | ¥557.0m | ¥35.0m | ¥1.69bn | ¥814.0m |
| Diluted earnings per share | 12.96 | 0.67 | 8.79 | 10.47 | 5.46 | 0.34 | 16.45 | 7.94 |
| Cash from operations | ¥3.87bn | −¥1.38bn | ¥940.0m | ¥1.61bn | ¥1.89bn | −¥1.16bn | ¥322.0m | ¥1.77bn |
| Capital spending | −¥5.0m | −¥8.0m | −¥6.0m | −¥8.0m | −¥2.0m | −¥4.0m | −¥12.0m | — |
| Free cash flow | ¥3.87bn | −¥1.39bn | ¥934.0m | ¥1.60bn | ¥1.88bn | −¥1.17bn | ¥310.0m | — |
| Total assets | ¥62.90bn | ¥61.29bn | ¥60.50bn | ¥55.44bn | ¥53.66bn | ¥47.35bn | ¥44.64bn | ¥39.93bn |
| Cash and short-term investments | ¥13.98bn | ¥11.97bn | ¥14.30bn | ¥14.07bn | ¥14.23bn | ¥7.82bn | ¥12.22bn | ¥12.57bn |
| Debt | ¥11.60bn | ¥5.21bn | ¥10.25bn | ¥3.84bn | ¥10.15bn | ¥2.83bn | ¥2.24bn | ¥1.71bn |
| Shareholders' equity | ¥39.94bn | ¥37.71bn | ¥37.15bn | ¥34.11bn | ¥32.30bn | ¥32.62bn | ¥34.31bn | ¥30.56bn |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 44.9% | 52.3% | 51.9% | 51.5% | 49.3% | 46.0% |
| Operating margin | 6.6% | 5.8% | 3.0% | 1.4% | -9.0% | -17.6% |
| Net margin | 5.8% | 8.6% | 3.8% | 0.1% | -9.3% | -16.2% |
| Return on equity | 6.9% | 8.5% | 3.4% | 0.1% | -5.2% | -19.0% |
| Return on assets | 4.2% | 6.6% | 2.6% | 0.1% | -3.8% | -11.7% |
| Free cash flow yield | 2.3% | 1.4% | 1.6% | 0.8% | -0.4% | -0.6% |
| Revenue growth | 28.4% | 28.9% | 36.0% | 53.4% | 41.1% | 24.2% |
| Earnings growth | -12.6% | 192.2% | 4598.1% | -101.8% | -18.9% | -38.1% |
| Current ratio | 2.36x | 3.23x | 3.81x | 3.48x | 4.26x | 2.29x |
| Debt to equity | 0.28x | 0.07x | 0.04x | 0.10x | 0.11x | 0.29x |
| Equity ratio | 61.4% | 76.9% | 76.9% | 72.9% | 73.2% | 61.9% |
| Interest coverage | 6.23x | 5.40x | 2.81x | 1.73x | -11.76x | -17.40x |
| R&D as a share of sales | 12.2% | 13.7% | 11.9% | 11.8% | 13.5% | 16.6% |
| Buybacks as a share of market value | 0.5% | 0.2% | -1.3% | -0.5% | -10.9% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 31.1% | 37.3% | — |
| Operating income | 122.1% | — | — |
| Net income | 393.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 48.1% | 49.5% | 49.2% | — |
| Operating margin | 6.3% | 4.8% | 2.2% | — |
| Net margin | 7.1% | 5.3% | 2.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 42.9 | 51.2 | 189.9 | — | -114.2 |
| Price to sales | 2.5 | 4.4 | 7.2 | 7.1 | 10.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | |
|---|---|
| Paid in the year | 4.25 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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