S 
605
+3.24%
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
¥19.03bn
FY2019FY2025
Net income
¥437.9m
FY2019FY2025
Free cash flow
¥61.3m
FY2019FY2025
Shareholders' equity
¥9.10bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥19.03bn | ¥15.05bn | ¥11.82bn | ¥9.25bn | ¥8.46bn | ¥5.05bn | ¥1.96bn |
| Gross profit | ¥9.51bn | ¥7.34bn | ¥5.67bn | ¥4.36bn | ¥3.39bn | ¥1.77bn | ¥609.6m |
| Research and development | ¥1.59bn | ¥784.9m | ¥822.3m | ¥694.8m | ¥241.3m | ¥151.8m | ¥80.6m |
| Operating income | −¥81.6m | −¥580.6m | −¥1.09bn | −¥1.28bn | −¥76.3m | −¥119.6m | −¥486.2m |
| Net income | ¥437.9m | −¥1.55bn | −¥1.44bn | −¥1.43bn | −¥174.0m | −¥99.5m | −¥495.6m |
| Diluted earnings per share | 7.77 | -28.02 | -26.16 | -26.71 | -3.34 | -1.78 | -8.89 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥12.08bn | ¥11.02bn | ¥11.70bn | ¥12.73bn | ¥13.72bn | ¥3.09bn | ¥2.98bn |
| Cash and short-term investments | ¥6.82bn | ¥6.80bn | ¥7.22bn | ¥8.77bn | ¥11.65bn | ¥1.54bn | ¥2.09bn |
| Total liabilities | ¥2.86bn | ¥2.45bn | ¥1.68bn | ¥1.48bn | ¥1.19bn | ¥997.7m | ¥779.9m |
| Debt | ¥892,000 | ¥2.5m | ¥94.2m | ¥125.9m | ¥135.0m | ¥265.7m | ¥310.1m |
| Shareholders' equity | ¥9.10bn | ¥8.55bn | ¥10.02bn | ¥11.24bn | ¥12.53bn | ¥2.10bn | ¥2.20bn |
| Shares outstanding | 56m | 55m | 55m | 54m | 52m | 56m | 56m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | ¥124.3m | −¥93.3m | −¥1.37bn | −¥1.54bn | −¥276.3m | −¥317.7m | −¥779.3m |
| Capital spending | −¥63.0m | −¥49.5m | −¥197.3m | −¥20.8m | −¥118.6m | −¥8.9m | −¥26.0m |
| Free cash flow | ¥61.3m | −¥142.8m | −¥1.57bn | −¥1.56bn | −¥394.9m | −¥326.6m | −¥805.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.31bn | ¥5.11bn | ¥5.56bn | ¥4.75bn | ¥4.49bn | ¥4.22bn | ¥4.52bn | ¥3.68bn |
| Gross profit | ¥2.77bn | ¥2.67bn | ¥2.78bn | ¥2.39bn | ¥2.27bn | ¥2.08bn | ¥2.08bn | ¥1.85bn |
| Operating income | −¥1.2m | ¥105.3m | ¥13.8m | −¥23.9m | −¥51.0m | −¥20.5m | −¥214.3m | −¥64.0m |
| Net income | −¥99.7m | ¥165.7m | ¥398.7m | ¥1.2m | ¥100.6m | −¥62.6m | −¥287.0m | −¥94.2m |
| Diluted earnings per share | -1.79 | 2.97 | 7.08 | 0.02 | 1.79 | -1.11 | -5.18 | -1.70 |
| Total assets | ¥11.83bn | ¥11.76bn | ¥12.08bn | ¥11.11bn | ¥10.74bn | ¥10.49bn | ¥11.02bn | ¥10.52bn |
| Cash and short-term investments | ¥5.32bn | ¥6.05bn | ¥6.82bn | ¥5.87bn | ¥6.04bn | ¥5.85bn | ¥6.80bn | ¥6.62bn |
| Debt | — | ¥340,000 | ¥892,000 | ¥1.2m | ¥1.6m | ¥1.7m | ¥1.7m | ¥1.4m |
| Shareholders' equity | ¥9.23bn | ¥9.26bn | ¥9.10bn | ¥8.68bn | ¥8.63bn | ¥8.49bn | ¥8.55bn | ¥8.84bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 50.0% | 48.7% | 48.0% | 47.1% | 40.1% | 35.1% |
| Operating margin | -0.4% | -3.9% | -9.2% | -13.9% | -0.9% | -2.4% |
| Net margin | 2.3% | -10.3% | -12.2% | -15.5% | -2.1% | -2.0% |
| Return on equity | 4.8% | -18.2% | -14.4% | -12.8% | -1.4% | -4.7% |
| Return on assets | 3.6% | -14.1% | -12.3% | -11.3% | -1.3% | -3.2% |
| Free cash flow yield | 0.5% | -0.1% | -3.1% | -4.1% | -0.4% | — |
| Revenue growth | 26.4% | 27.4% | 27.7% | 9.4% | 67.5% | 157.9% |
| Earnings growth | -128.2% | 7.9% | 0.3% | 724.4% | 74.9% | -79.9% |
| Current ratio | 3.89x | 4.25x | 6.31x | 8.08x | 12.70x | 3.32x |
| Debt to equity | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.13x |
| Equity ratio | 75.3% | 77.5% | 85.6% | 88.3% | 91.3% | 67.7% |
| Interest coverage | -287.27x | -2439.35x | -2998.65x | -1695.84x | -42.70x | -40.59x |
| R&D as a share of sales | 8.3% | 5.2% | 7.0% | 7.5% | 2.9% | 3.0% |
| Buybacks as a share of market value | -1.6% | -0.8% | -2.4% | -3.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.2% | 30.4% | — |
| Operating income | -60.1% | -7.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 49.4% | 48.7% | 46.7% | — |
| Operating margin | -1.9% | -5.5% | -4.7% | — |
| Net margin | -3.3% | -7.2% | -6.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 108.3 | -28.1 | -30.1 | -29.7 | -657.9 |
| Price to sales | 2.5 | 2.9 | 3.7 | 4.6 | 13.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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