H 
766
+4.50%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥6.42bn
FY2017FY2026
Net income
¥376.0m
FY2017FY2026
Free cash flow
¥511.1m
FY2017FY2026
Shareholders' equity
¥5.06bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.42bn | ¥5.93bn | ¥4.84bn | ¥2.98bn | ¥1.48bn | ¥1.56bn | ¥1.54bn | ¥1.38bn | ¥1.16bn | ¥877.6m |
| Gross profit | ¥2.92bn | ¥2.69bn | ¥2.39bn | ¥1.35bn | ¥553.4m | ¥699.1m | ¥762.9m | ¥695.9m | ¥507.7m | ¥190.6m |
| Research and development | — | ¥41.9m | ¥81.1m | ¥34.9m | ¥70.7m | ¥28.3m | ¥26.7m | ¥22.1m | ¥10.3m | — |
| Operating income | ¥523.1m | ¥306.4m | ¥444.4m | ¥257.9m | ¥34.8m | ¥294.2m | ¥459.1m | ¥420.3m | ¥354.2m | ¥88.9m |
| Net income | ¥376.0m | −¥177.7m | −¥1.13bn | −¥574.3m | ¥49.4m | ¥207.1m | ¥255.4m | ¥296.7m | ¥247.1m | ¥94.1m |
| Diluted earnings per share | 23.35 | -11.69 | -75.36 | -38.19 | 3.29 | 13.79 | 16.85 | 20.49 | 17.09 | 5.84 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥8.50bn | ¥8.19bn | ¥7.69bn | ¥8.67bn | ¥6.64bn | ¥6.55bn | ¥6.41bn | ¥2.16bn | ¥1.75bn | ¥363.8m |
| Cash and short-term investments | ¥1.95bn | ¥3.15bn | ¥2.74bn | ¥3.80bn | ¥3.66bn | ¥5.55bn | ¥5.56bn | ¥1.49bn | ¥1.56bn | ¥204.8m |
| Total liabilities | ¥2.64bn | ¥2.99bn | ¥2.55bn | ¥2.59bn | ¥194.6m | ¥143.5m | ¥226.1m | ¥178.7m | ¥243.3m | ¥289.0m |
| Debt | ¥1.65bn | ¥2.05bn | ¥1.40bn | ¥1.50bn | ¥1.50bn | — | — | — | — | ¥160.0m |
| Shareholders' equity | ¥5.06bn | ¥4.64bn | ¥4.79bn | ¥5.87bn | ¥6.44bn | ¥6.40bn | ¥6.18bn | ¥1.98bn | ¥1.50bn | ¥74.8m |
| Shares outstanding | 16m | 15m | 15m | 15m | 15m | 15m | 15m | 14m | 14m | 16m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥592.8m | ¥219.0m | ¥464.0m | ¥483.4m | ¥198.1m | ¥360.7m | ¥243.5m | ¥230.0m | ¥373.7m | ¥111.3m |
| Capital spending | −¥81.7m | −¥86.9m | −¥147.5m | −¥96.3m | −¥3.6m | −¥379.5m | −¥44.1m | −¥169.0m | −¥28.3m | −¥1.0m |
| Free cash flow | ¥511.1m | ¥132.1m | ¥316.5m | ¥387.1m | ¥194.5m | −¥18.8m | ¥199.4m | ¥61.0m | ¥345.4m | ¥110.2m |
| Dividends paid | — | — | — | −¥218,000 | −¥200.3m | — | — | — | — | — |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.64bn | ¥1.74bn | ¥1.59bn | ¥1.58bn | ¥1.51bn | ¥1.58bn | ¥1.52bn | ¥1.42bn |
| Gross profit | ¥821.3m | ¥844.6m | ¥704.7m | ¥705.0m | ¥667.3m | ¥713.2m | ¥700.7m | ¥625.4m |
| Operating income | ¥180.1m | ¥164.5m | ¥99.9m | ¥140.8m | ¥117.9m | ¥148.0m | ¥69.6m | ¥14.4m |
| Net income | ¥32.7m | ¥425.4m | −¥35.0m | −¥2.8m | −¥11.5m | ¥2.4m | −¥61.8m | −¥72.6m |
| Diluted earnings per share | 2.03 | 26.41 | -2.17 | -0.19 | -0.76 | 0.16 | -4.06 | -4.82 |
| Total assets | ¥8.44bn | ¥8.50bn | ¥8.11bn | ¥8.07bn | ¥8.09bn | ¥8.19bn | ¥7.95bn | ¥8.11bn |
| Cash and short-term investments | ¥2.63bn | ¥1.95bn | ¥2.96bn | ¥2.84bn | ¥1.41bn | ¥3.15bn | ¥2.90bn | ¥3.00bn |
| Debt | ¥817.5m | ¥1.65bn | ¥817.5m | ¥1.81bn | ¥582.7m | ¥2.05bn | ¥582.7m | ¥1.95bn |
| Shareholders' equity | ¥5.83bn | ¥5.06bn | ¥4.63bn | ¥4.66bn | ¥4.63bn | ¥4.64bn | ¥4.70bn | ¥4.78bn |
Financial ratios
Data as of 2 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 45.5% | 45.3% | 49.4% | 45.2% | 37.3% | 44.9% | — |
| Operating margin | 11.3% | 5.2% | 9.2% | 8.7% | 2.3% | 18.9% | — |
| Net margin | 5.9% | -3.0% | -23.4% | -19.3% | 3.3% | 13.3% | — |
| Return on equity | 7.4% | -3.8% | -23.7% | -9.8% | 0.8% | 3.2% | — |
| Return on assets | 4.4% | -2.2% | -14.8% | -6.6% | 0.7% | 3.2% | — |
| Free cash flow yield | 4.9% | 2.4% | 4.8% | 4.5% | 1.6% | 5.8% | — |
| Revenue growth | 8.3% | 22.5% | 62.4% | 101.0% | -4.7% | 0.8% | — |
| Earnings growth | -311.6% | -84.3% | 97.5% | -1262.6% | -76.2% | -18.9% | — |
| Current ratio | 2.84x | 3.05x | 3.42x | 4.99x | 20.34x | 40.33x | — |
| Debt to equity | 0.33x | 0.44x | 0.29x | 0.26x | 0.01x | 0.00x | — |
| Equity ratio | 59.5% | 56.6% | 62.3% | 67.7% | 97.1% | 97.8% | — |
| Interest coverage | 28.82x | 16.87x | 43.00x | 45.89x | 740.15x | 5072.09x | — |
| R&D as a share of sales | — | 0.7% | 1.7% | 1.2% | 4.8% | 1.8% | 1.7% |
| Buybacks as a share of market value | -5.9% | -1.0% | -0.1% | -0.1% | -0.0% | 0.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 29.2% | 32.8% | 18.7% |
| Operating income | 26.6% | 12.2% | — |
| Net income | — | 12.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.4% | 46.3% | 45.7% | 43.9% |
| Operating margin | 6.7% | 7.6% | 8.0% | 10.8% |
| Net margin | 1.6% | -7.5% | -5.4% | -1.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 36.6 | -71.1 | -13.3 | -44.3 | 290.5 | 94.8 | 157.7 | 284.8 | 208.6 |
| Price to sales | 2.1 | 2.1 | 3.1 | 8.5 | 9.7 | 12.6 | 26.1 | 61.4 | 44.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 30 Jan 2020
- 2-for-1 split · 26 Dec 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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