N 
1,704
+7.37%
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
¥29.61bn
FY2016FY2025
Net income
−¥12.53bn
FY2016FY2025
Free cash flow
−¥3.12bn
FY2016FY2025
Shareholders' equity
¥61.00bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥29.61bn | ¥28.84bn | ¥12.77bn | ¥15.57bn | ¥17.71bn | ¥8.84bn | ¥9.73bn | ¥3.83bn | ¥6.96bn | ¥18.90bn |
| Gross profit | ¥21.42bn | ¥18.13bn | ¥7.87bn | ¥13.80bn | ¥15.98bn | ¥7.17bn | ¥7.81bn | ¥2.01bn | ¥6.96bn | ¥17.98bn |
| Research and development | ¥14.47bn | ¥11.82bn | ¥10.07bn | ¥7.45bn | ¥5.93bn | ¥3.79bn | ¥4.29bn | ¥7.18bn | ¥4.93bn | ¥3.12bn |
| Operating income | −¥8.27bn | −¥5.36bn | −¥9.06bn | ¥2.81bn | ¥6.91bn | ¥853.0m | ¥969.0m | −¥7.40bn | −¥2.57bn | ¥12.13bn |
| Net income | −¥12.53bn | −¥4.84bn | −¥7.19bn | ¥382.0m | ¥1.02bn | ¥1.48bn | ¥1.43bn | −¥7.95bn | −¥2.65bn | ¥9.80bn |
| Diluted earnings per share | -138.72 | -53.81 | -80.42 | 4.66 | 12.31 | 18.48 | 18.58 | -104.16 | -39.12 | 144.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥134.79bn | ¥151.50bn | ¥157.20bn | ¥100.22bn | ¥98.42bn | ¥77.18bn | ¥56.68bn | ¥58.99bn | ¥69.49bn | ¥48.09bn |
| Cash and short-term investments | ¥20.36bn | ¥36.20bn | ¥49.06bn | ¥66.56bn | ¥60.09bn | ¥40.01bn | ¥15.38bn | ¥18.76bn | ¥28.28bn | ¥13.90bn |
| Total liabilities | ¥73.79bn | ¥82.98bn | ¥90.39bn | ¥42.29bn | ¥40.95bn | ¥24.80bn | ¥11.60bn | ¥17.41bn | ¥20.60bn | ¥19.24bn |
| Debt | ¥57.38bn | ¥67.90bn | ¥73.97bn | ¥29.73bn | ¥29.27bn | ¥16.62bn | ¥3.37bn | ¥6.96bn | ¥9.90bn | ¥6.90bn |
| Shareholders' equity | ¥61.00bn | ¥68.52bn | ¥66.81bn | ¥57.94bn | ¥57.47bn | ¥52.38bn | ¥45.08bn | ¥41.58bn | ¥48.88bn | ¥28.84bn |
| Shares outstanding | 90m | 90m | 89m | 82m | 83m | 80m | 77m | 76m | 68m | 68m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥2.67bn | −¥7.72bn | −¥5.27bn | ¥9.95bn | ¥7.09bn | ¥4.67bn | ¥3.44bn | −¥4.00bn | −¥2.17bn | ¥12.86bn |
| Capital spending | −¥448.0m | −¥526.0m | −¥804.0m | −¥303.0m | −¥193.0m | −¥92.0m | −¥271.0m | −¥1.81bn | −¥880.0m | −¥332.0m |
| Free cash flow | −¥3.12bn | −¥8.24bn | −¥6.08bn | ¥9.65bn | ¥6.90bn | ¥4.58bn | ¥3.17bn | −¥5.80bn | −¥3.05bn | ¥12.52bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥7.65bn | ¥11.26bn | ¥7.77bn | ¥6.75bn | ¥8.45bn | ¥6.64bn | ¥6.85bn | ¥9.26bn |
| Gross profit | ¥5.49bn | ¥10.14bn | ¥5.71bn | ¥4.08bn | ¥6.59bn | ¥5.03bn | ¥4.72bn | ¥6.27bn |
| Operating income | −¥864.0m | ¥3.54bn | −¥1.37bn | −¥3.49bn | −¥939.0m | −¥2.48bn | −¥2.87bn | ¥541.0m |
| Net income | −¥202.0m | ¥1.79bn | −¥7.72bn | −¥1.67bn | −¥2.38bn | −¥760.0m | −¥1.33bn | ¥1.20bn |
| Diluted earnings per share | -2.21 | 19.62 | -85.48 | -18.51 | -26.32 | -8.41 | -14.85 | 13.35 |
| Cash from operations | ¥5.63bn | −¥1.65bn | −¥125.0m | −¥2.98bn | −¥180.0m | ¥613.0m | −¥10.97bn | ¥1.74bn |
| Capital spending | −¥52.0m | −¥304.0m | −¥147.0m | −¥102.0m | −¥90.0m | −¥109.0m | −¥153.0m | −¥271.0m |
| Free cash flow | ¥5.58bn | −¥1.96bn | −¥272.0m | −¥3.08bn | −¥270.0m | ¥504.0m | −¥11.12bn | ¥1.47bn |
| Total assets | ¥132.38bn | ¥133.34bn | ¥134.79bn | ¥144.18bn | ¥144.69bn | ¥145.69bn | ¥151.50bn | ¥152.34bn |
| Cash and short-term investments | ¥17.75bn | ¥11.60bn | ¥20.36bn | ¥28.46bn | ¥33.00bn | ¥34.47bn | ¥36.20bn | ¥48.87bn |
| Debt | ¥51.92bn | ¥6.70bn | ¥53.87bn | ¥6.67bn | ¥61.66bn | ¥6.68bn | ¥6.69bn | ¥6.66bn |
| Shareholders' equity | ¥64.80bn | ¥63.69bn | ¥61.00bn | ¥65.66bn | ¥65.86bn | ¥67.07bn | ¥68.52bn | ¥67.76bn |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 72.3% | 62.9% | 61.6% | 88.6% | 90.2% | 81.1% |
| Operating margin | -27.9% | -18.6% | -71.0% | 18.1% | 39.0% | 9.6% |
| Net margin | -42.3% | -16.8% | -56.3% | 2.5% | 5.7% | 16.7% |
| Return on equity | -20.5% | -7.1% | -10.8% | 0.7% | 1.8% | 2.8% |
| Return on assets | -9.3% | -3.2% | -4.6% | 0.4% | 1.0% | 1.9% |
| Free cash flow yield | -2.4% | -7.1% | -4.9% | 10.1% | 7.1% | 4.8% |
| Revenue growth | 2.7% | 125.9% | -18.0% | -12.1% | 100.3% | -9.1% |
| Earnings growth | 159.0% | -32.7% | -1983.0% | -62.4% | -31.2% | 3.3% |
| Current ratio | 2.54x | 3.70x | 3.79x | 17.09x | 8.73x | 14.08x |
| Debt to equity | 0.88x | 0.94x | 1.05x | 0.49x | 0.48x | 0.29x |
| Equity ratio | 45.3% | 45.2% | 42.5% | 57.8% | 58.4% | 67.9% |
| Interest coverage | -1.11x | -6.90x | -11.28x | 3.93x | 13.08x | 4.00x |
| R&D as a share of sales | 48.8% | 41.0% | 78.9% | 47.9% | 33.5% | 42.9% |
| Buybacks as a share of market value | -0.5% | -0.5% | -9.2% | 0.8% | -3.2% | -3.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.9% | 27.3% | 13.8% |
| Net income | — | — | 24.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 67.7% | 70.5% | 74.4% | 78.5% |
| Operating margin | -23.3% | -22.9% | -10.7% | -5.0% |
| Net margin | -29.7% | -27.9% | -19.1% | -14.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.0 | -19.5 | -17.7 | 458.5 | 154.6 | 97.4 | 116.8 | -7.7 | -69.9 | 23.3 |
| Price to sales | 2.5 | 3.3 | 10.0 | 11.3 | 8.9 | 16.3 | 17.2 | 15.9 | 26.7 | 12.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Mar 2015.
| FY2015 | |
|---|---|
| Paid in the year | 2.50 |
- 4-for-1 split · 27 Jun 2018
- 100-for-1 split · 27 Mar 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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