T 
346
+4.53%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥6.08bn
FY2017FY2026
Net income
¥351.4m
FY2017FY2026
Free cash flow
¥647.4m
FY2017FY2026
Shareholders' equity
¥1.40bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.08bn | ¥4.92bn | ¥4.42bn | ¥3.81bn | ¥3.26bn | ¥2.90bn | ¥2.45bn | ¥1.82bn | ¥1.23bn | ¥773.0m |
| Gross profit | ¥2.28bn | ¥1.98bn | ¥1.65bn | ¥1.37bn | ¥1.11bn | ¥1.51bn | ¥1.49bn | ¥1.12bn | ¥749.6m | ¥478.4m |
| Operating income | ¥462.4m | ¥269.8m | −¥87.3m | −¥219.8m | −¥118.2m | ¥169.0m | ¥285.8m | ¥243.5m | ¥69.7m | −¥102.3m |
| Net income | ¥351.4m | ¥362.7m | −¥180.1m | −¥189.2m | −¥90.3m | ¥122.8m | ¥255.4m | ¥223.9m | ¥91.5m | −¥97.4m |
| Diluted earnings per share | 23.46 | 21.97 | -10.96 | -11.53 | -5.55 | 7.56 | 15.72 | 13.78 | 5.63 | -6.50 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.13bn | ¥4.47bn | ¥3.69bn | ¥3.52bn | ¥3.36bn | ¥3.17bn | ¥2.81bn | ¥2.34bn | ¥1.93bn | ¥927.1m |
| Cash and short-term investments | ¥3.54bn | ¥2.94bn | ¥2.54bn | ¥2.36bn | ¥2.41bn | ¥2.45bn | ¥2.17bn | ¥1.89bn | ¥1.49bn | ¥766.7m |
| Total liabilities | ¥3.74bn | ¥2.85bn | ¥2.46bn | ¥2.12bn | ¥1.83bn | ¥1.59bn | ¥1.37bn | ¥1.22bn | ¥1.10bn | ¥722.7m |
| Debt | ¥550.0m | — | ¥83.0m | ¥1.57bn | ¥1.42bn | ¥1.19bn | ¥1.06bn | ¥110.0m | ¥110.0m | ¥172.3m |
| Shareholders' equity | ¥1.40bn | ¥1.62bn | ¥1.23bn | ¥1.39bn | ¥1.53bn | ¥1.58bn | ¥1.45bn | ¥1.12bn | ¥835.9m | ¥204.4m |
| Shares outstanding | 15m | 17m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 15m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥652.7m | ¥443.0m | ¥68.2m | −¥6.7m | −¥4.5m | ¥265.0m | ¥395.5m | ¥404.1m | ¥292.5m | ¥75.1m |
| Capital spending | −¥5.3m | −¥468,000 | −¥4.3m | −¥710,000 | −¥3.3m | −¥805,000 | −¥82.4m | −¥5.1m | −¥12.6m | −¥208,000 |
| Free cash flow | ¥647.4m | ¥442.5m | ¥63.9m | −¥7.4m | −¥7.7m | ¥264.2m | ¥313.1m | ¥399.0m | ¥279.9m | ¥74.9m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.65bn | ¥1.55bn | ¥1.47bn | ¥1.41bn | ¥1.37bn | ¥1.24bn | ¥1.17bn | ¥1.15bn |
| Gross profit | ¥577.8m | ¥602.2m | ¥565.9m | ¥535.7m | ¥534.3m | ¥528.1m | ¥485.8m | ¥436.2m |
| Operating income | ¥32.6m | ¥198.5m | ¥122.7m | ¥108.6m | ¥1.7m | ¥133.9m | ¥82.2m | ¥52.0m |
| Net income | ¥56.9m | ¥136.5m | ¥80.5m | ¥77.4m | ¥137.1m | ¥115.5m | ¥72.3m | ¥37.8m |
| Diluted earnings per share | 3.80 | 9.11 | 5.38 | 4.69 | 8.30 | 7.00 | 4.38 | 2.30 |
| Cash from operations | — | — | — | — | ¥442.0m | — | — | — |
| Total assets | ¥5.13bn | ¥5.04bn | ¥4.31bn | ¥4.69bn | ¥4.47bn | ¥4.06bn | ¥3.96bn | ¥3.87bn |
| Cash and short-term investments | ¥3.54bn | ¥3.53bn | ¥2.72bn | ¥3.12bn | ¥2.94bn | ¥2.83bn | ¥2.72bn | ¥2.73bn |
| Debt | ¥120.0m | ¥130.0m | — | — | — | — | ¥32.1m | — |
| Shareholders' equity | ¥1.40bn | ¥1.34bn | ¥1.20bn | ¥1.71bn | ¥1.62bn | ¥1.48bn | ¥1.36bn | ¥1.27bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 40.3% | 37.4% | 35.9% | 34.1% | 52.1% | 60.7% | — |
| Operating margin | 5.5% | -2.0% | -5.8% | -3.6% | 5.8% | 11.7% | — |
| Net margin | 7.4% | -4.1% | -5.0% | -2.8% | 4.2% | 10.4% | — |
| Return on equity | 22.3% | -14.7% | -13.6% | -5.9% | 7.8% | 17.7% | — |
| Return on assets | 8.1% | -4.9% | -5.4% | -2.7% | 3.9% | 9.1% | — |
| Free cash flow yield | 7.3% | 1.2% | -0.1% | -0.0% | 4.4% | 7.9% | — |
| Revenue growth | 11.3% | 16.1% | 16.8% | 12.6% | 18.5% | 34.3% | — |
| Earnings growth | -301.4% | -4.8% | 109.4% | -173.5% | -51.9% | 14.0% | — |
| Current ratio | 1.29x | 1.27x | 1.35x | 1.54x | 1.73x | 1.79x | — |
| Debt to equity | — | 0.07x | 1.13x | 0.92x | 0.76x | 0.73x | 0.87x |
| Equity ratio | 36.3% | 33.3% | 39.6% | 45.6% | 49.7% | 51.4% | — |
| Interest coverage | 1173.18x | -139.06x | -278.24x | -138.52x | 1837.24x | 2362.37x | — |
| Buybacks as a share of market value | -0.4% | -0.2% | -0.7% | -0.2% | -0.0% | -0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.9% | 16.0% | 27.4% |
| Operating income | — | 22.3% | — |
| Net income | — | 23.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 38.8% | 37.9% | 39.0% | 43.7% |
| Operating margin | 6.7% | 2.2% | 1.9% | 2.6% |
| Net margin | 6.5% | 1.8% | 1.5% | 2.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.1 | 23.0 | -31.2 | -30.2 | -58.9 | 81.0 | 124.6 | 183.5 | 256.5 |
| Price to sales | 0.9 | 1.7 | 1.3 | 1.5 | 1.6 | 3.4 | 13.0 | 22.6 | 19.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 29 May 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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