C 
335
+1.21%
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
¥579.1m
FY2016FY2025
Net income
−¥2.17bn
FY2016FY2025
Free cash flow
−¥2.17bn
FY2016FY2025
Shareholders' equity
¥309.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥579.1m | ¥636.2m | ¥1.63bn | ¥1.39bn | ¥2.02bn | ¥1.13bn | ¥3.21bn | ¥754.7m | ¥657.5m | ¥811.6m |
| Gross profit | ¥388.1m | ¥465.7m | ¥1.45bn | ¥1.22bn | ¥1.88bn | ¥941.2m | ¥3.00bn | ¥504.0m | ¥435.0m | ¥557.2m |
| Research and development | ¥1.85bn | ¥1.89bn | ¥1.90bn | ¥1.88bn | ¥1.84bn | ¥1.47bn | ¥1.28bn | ¥1.14bn | ¥670.9m | ¥513.4m |
| Operating income | −¥2.07bn | −¥2.08bn | −¥1.12bn | −¥1.31bn | −¥528.6m | −¥1.09bn | ¥977.8m | −¥1.19bn | −¥718.5m | −¥424.0m |
| Net income | −¥2.17bn | −¥2.18bn | −¥1.15bn | −¥1.35bn | −¥534.5m | −¥1.11bn | ¥828.3m | −¥1.21bn | −¥737.3m | −¥289.9m |
| Diluted earnings per share | -113.46 | -114.72 | -67.24 | -98.28 | -42.59 | -89.58 | 68.52 | -118.40 | -77.19 | -31.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.23bn | ¥2.77bn | ¥4.35bn | ¥4.27bn | ¥5.43bn | ¥4.84bn | ¥5.38bn | ¥1.77bn | ¥2.19bn | ¥2.57bn |
| Cash and short-term investments | ¥516.8m | ¥2.11bn | ¥2.89bn | ¥3.38bn | ¥3.82bn | ¥4.30bn | ¥4.92bn | ¥1.36bn | ¥1.86bn | ¥2.16bn |
| Total liabilities | ¥920.4m | ¥296.8m | ¥472.4m | ¥624.6m | ¥1.12bn | ¥1.01bn | ¥1.52bn | ¥882.6m | ¥812.5m | ¥827.0m |
| Debt | ¥714.5m | ¥61.3m | ¥183.0m | ¥300.4m | ¥539.9m | ¥429.8m | ¥728.8m | ¥686.6m | ¥624.1m | ¥697.7m |
| Shareholders' equity | ¥309.2m | ¥2.48bn | ¥3.88bn | ¥3.64bn | ¥4.32bn | ¥3.82bn | ¥3.85bn | ¥887.5m | ¥1.38bn | ¥1.74bn |
| Shares outstanding | 19m | 19m | 17m | 14m | 13m | 12m | 12m | 10m | 10m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥2.16bn | −¥1.37bn | −¥1.68bn | −¥708.4m | −¥1.54bn | −¥1.26bn | ¥1.48bn | −¥1.13bn | −¥561.1m | −¥453.0m |
| Capital spending | −¥9.3m | −¥13.1m | −¥11.5m | −¥126.0m | −¥41.7m | −¥68.9m | −¥42.0m | −¥58.3m | −¥38.1m | −¥31.1m |
| Free cash flow | −¥2.17bn | −¥1.39bn | −¥1.69bn | −¥834.4m | −¥1.58bn | −¥1.33bn | ¥1.44bn | −¥1.19bn | −¥599.2m | −¥484.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥217.5m | ¥183.6m | ¥183.6m | ¥144.3m | ¥107.8m | ¥143.3m | ¥149.0m | ¥172.2m |
| Gross profit | ¥161.2m | ¥131.3m | ¥117.5m | ¥96.9m | ¥73.9m | ¥99.8m | ¥101.6m | ¥131.1m |
| Operating income | −¥495.7m | −¥458.4m | −¥523.1m | −¥499.0m | −¥555.6m | −¥497.3m | −¥498.1m | −¥483.0m |
| Net income | −¥526.5m | −¥513.2m | −¥571.5m | −¥544.0m | −¥557.0m | −¥499.1m | −¥590.0m | −¥494.6m |
| Diluted earnings per share | -26.34 | -25.68 | -29.86 | -28.42 | -29.10 | -26.08 | -31.07 | -26.04 |
| Total assets | ¥1.77bn | ¥2.21bn | ¥1.23bn | ¥1.54bn | ¥1.64bn | ¥2.17bn | ¥2.77bn | ¥2.98bn |
| Cash and short-term investments | ¥1.10bn | ¥1.48bn | ¥516.8m | ¥924.8m | ¥1.06bn | ¥1.53bn | ¥2.11bn | ¥2.28bn |
| Debt | ¥1.97bn | ¥12.0m | ¥698.2m | ¥13.4m | ¥18.4m | ¥20.0m | ¥28.1m | ¥45.0m |
| Shareholders' equity | −¥407.8m | −¥163.6m | ¥309.2m | ¥864.1m | ¥1.39bn | ¥1.96bn | ¥2.48bn | ¥2.65bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 67.0% | 73.2% | 89.2% | 87.6% | 93.3% | 83.0% |
| Operating margin | -373.0% | -341.2% | -69.3% | -95.0% | -26.2% | -96.6% |
| Net margin | -375.0% | -342.4% | -70.9% | -97.3% | -26.5% | -98.0% |
| Return on equity | -702.2% | -88.0% | -29.7% | -37.1% | -12.4% | -29.1% |
| Return on assets | -176.6% | -78.6% | -26.5% | -31.6% | -9.8% | -23.0% |
| Free cash flow yield | -31.6% | -20.2% | -27.4% | -11.9% | -33.6% | -27.1% |
| Revenue growth | -9.0% | -60.9% | 17.2% | -31.3% | 78.0% | -64.7% |
| Earnings growth | -0.3% | 89.0% | -14.6% | 152.5% | -51.9% | -234.1% |
| Current ratio | 6.99x | 12.28x | 11.15x | 9.40x | 6.87x | 6.47x |
| Debt to equity | 2.26x | 0.01x | 0.04x | 0.08x | 0.13x | 0.11x |
| Equity ratio | 25.1% | 89.3% | 89.1% | 85.4% | 79.4% | 79.1% |
| Interest coverage | -41.53x | -733.95x | -326.69x | -248.23x | -134.67x | -148.53x |
| R&D as a share of sales | 319.7% | 296.4% | 117.0% | 135.7% | 91.3% | 130.1% |
| Buybacks as a share of market value | -0.8% | -10.8% | -24.9% | -9.4% | -1.2% | -2.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.3% | -12.6% | -9.5% |
| Operating income | 16.6% | 13.7% | — |
| Net income | 17.2% | 14.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 70.3% | 83.2% | 86.0% | 84.4% |
| Operating margin | -341.6% | -155.6% | -111.1% | -63.2% |
| Net margin | -357.9% | -162.1% | -115.2% | -65.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.1 | -2.6 | -7.8 | -5.3 | -25.9 | -13.5 | 31.0 | -7.6 | -14.6 | -67.9 |
| Price to sales | 11.8 | 8.9 | 5.5 | 5.2 | 6.8 | 13.3 | 8.0 | 12.2 | 16.4 | 24.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-for-1 split · 26 Dec 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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