I 
Institution For A Global Society 4265.T · JPY
Consumer Discretionary · Tokyo Stock Exchange · 🇯🇵 Japan
255
+8.97%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥659.1m
FY2020FY2026
Net income
−¥281.6m
FY2020FY2026
Free cash flow
¥8.3m
FY2020FY2026
Shareholders' equity
¥478.4m
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥659.1m | ¥602.9m | ¥917.0m | ¥668.1m | ¥720.7m | ¥514.4m | ¥314.2m |
| Gross profit | ¥382.8m | ¥197.1m | ¥571.8m | ¥473.0m | ¥570.4m | ¥371.9m | ¥227.7m |
| Research and development | — | ¥26.5m | ¥158.4m | ¥113.6m | ¥143.1m | ¥87.6m | ¥6.8m |
| Operating income | −¥227.2m | −¥303.1m | −¥21.7m | −¥80.7m | ¥39.9m | ¥8.6m | −¥107.2m |
| Net income | −¥281.6m | −¥336.3m | −¥21.2m | −¥125.4m | ¥44.4m | ¥3.7m | −¥249.1m |
| Diluted earnings per share | -59.05 | -73.86 | -4.69 | -27.88 | 10.04 | 0.86 | -52.24 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥649.2m | ¥768.8m | ¥1.09bn | ¥1.39bn | ¥1.23bn | ¥489.7m | ¥483.2m |
| Cash and short-term investments | ¥493.0m | ¥331.1m | ¥631.6m | ¥912.7m | ¥966.0m | ¥203.6m | ¥380.7m |
| Total liabilities | ¥170.7m | ¥64.0m | ¥77.7m | ¥359.6m | ¥93.7m | ¥49.4m | ¥46.6m |
| Debt | ¥107.0m | — | — | — | — | — | — |
| Shareholders' equity | ¥478.4m | ¥678.8m | ¥1.01bn | ¥1.03bn | ¥1.14bn | ¥440.3m | ¥436.6m |
| Shares outstanding | 5m | 5m | 5m | 4m | 4m | 4m | 5m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | ¥26.7m | −¥225.1m | −¥258.6m | −¥60.8m | ¥115.4m | −¥121.3m | −¥128.3m |
| Capital spending | −¥18.4m | −¥12.2m | −¥26.0m | −¥8.4m | — | −¥47.4m | −¥87.8m |
| Free cash flow | ¥8.3m | −¥237.3m | −¥284.6m | −¥69.2m | ¥115.4m | −¥168.7m | −¥216.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥88.8m | ¥225.8m | ¥114.1m | ¥184.5m | ¥134.8m | ¥203.7m | ¥136.5m | ¥154.5m |
| Gross profit | ¥38.3m | ¥159.5m | ¥47.0m | ¥115.3m | ¥61.0m | ¥110.6m | ¥31.4m | ¥45.1m |
| Operating income | −¥89.3m | −¥108.3m | −¥72.2m | ¥5.1m | −¥51.7m | −¥13.3m | −¥106.3m | −¥64.2m |
| Net income | −¥90.0m | −¥166.1m | −¥80.2m | ¥14.7m | −¥50.0m | −¥3.8m | −¥146.2m | −¥66.9m |
| Diluted earnings per share | -18.88 | -34.83 | -17.60 | 3.23 | -10.99 | -0.83 | -32.41 | -14.84 |
| Total assets | ¥624.7m | ¥649.2m | ¥893.6m | ¥847.9m | ¥782.7m | ¥768.8m | ¥839.0m | ¥1.00bn |
| Cash and short-term investments | ¥530.5m | ¥493.0m | ¥494.8m | ¥430.1m | ¥348.4m | ¥331.1m | ¥405.0m | ¥574.0m |
| Debt | ¥6.0m | ¥107.0m | ¥6.0m | ¥6.0m | — | — | — | — |
| Shareholders' equity | ¥390.2m | ¥478.4m | ¥644.7m | ¥644.5m | ¥628.8m | ¥678.8m | ¥681.0m | ¥827.0m |
Financial ratios
Data as of 5 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 58.1% | 32.7% | 62.4% | 70.8% | 79.1% | 72.3% | — |
| Operating margin | -34.5% | -50.3% | -2.4% | -12.1% | 5.5% | 1.7% | — |
| Net margin | -42.7% | -55.8% | -2.3% | -18.8% | 6.2% | 0.7% | — |
| Return on equity | -58.9% | -49.5% | -2.1% | -12.1% | 3.9% | 0.8% | — |
| Return on assets | -43.4% | -43.7% | -1.9% | -9.0% | 3.6% | 0.8% | — |
| Free cash flow yield | 3.5% | -17.3% | -19.1% | -4.3% | — | -6.4% | — |
| Revenue growth | 9.3% | -34.2% | 37.2% | -7.3% | 40.1% | 63.7% | — |
| Earnings growth | -16.3% | 1488.6% | -83.1% | -382.2% | 1104.1% | -101.5% | — |
| Current ratio | 9.21x | 10.60x | 13.51x | 20.23x | 12.41x | 8.86x | — |
| Debt to equity | 0.22x | 0.00x | — | 0.00x | 0.00x | 0.00x | — |
| Equity ratio | 73.7% | 88.3% | 92.9% | 74.2% | 92.4% | 89.9% | — |
| Interest coverage | -820.15x | — | -144.45x | -329.40x | 6.25x | — | -552.81x |
| R&D as a share of sales | — | 4.4% | 17.3% | 17.0% | 19.9% | 17.0% | 2.1% |
| Buybacks as a share of market value | -4.7% | -1.0% | -0.2% | -1.6% | -3.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.4% | 5.1% | — |
| Operating income | 41.2% | — | — |
| Net income | 31.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 46.0% | 57.1% | 62.9% | — |
| Operating margin | -42.0% | -22.2% | -14.3% | — |
| Net margin | -49.0% | -26.9% | -17.5% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Price to earnings | -4.6 | -4.2 | -62.6 | -12.7 | 48.7 | — |
| Price to sales | 1.9 | 2.4 | 1.4 | 2.4 | 3.0 | 13.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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