D 
50
0.00%
Close of 9 Nov 2026, in JPY
Search any instrument
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
¥387.6m
FY2016FY2025
Net income
−¥632.1m
FY2016FY2025
Free cash flow
−¥496.5m
FY2016FY2025
Shareholders' equity
¥1.44bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥387.6m | ¥471.6m | ¥428.4m | ¥448.1m | ¥414.4m | ¥355.6m | ¥580.5m | ¥292.9m | ¥254.0m | ¥168.0m |
| Research and development | ¥669.8m | ¥1.37bn | ¥930.5m | ¥469.6m | ¥316.2m | ¥350.5m | ¥249.4m | ¥795.3m | ¥603.3m | ¥227.0m |
| Operating income | −¥619.9m | −¥1.27bn | −¥824.3m | −¥425.4m | −¥171.6m | −¥284.8m | ¥117.3m | −¥796.0m | −¥633.7m | −¥319.7m |
| Net income | −¥632.1m | −¥1.29bn | −¥812.4m | −¥429.7m | −¥149.0m | −¥276.1m | ¥133.2m | −¥749.0m | −¥1.56bn | −¥253.5m |
| Diluted earnings per share | -11.08 | -32.63 | -25.28 | -14.17 | -5.08 | -9.44 | 5.07 | -28.55 | -59.48 | -4.41 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.17bn | ¥1.67bn | ¥2.37bn | ¥2.96bn | ¥2.46bn | ¥2.74bn | ¥1.98bn | ¥2.07bn | ¥2.88bn | ¥2.91bn |
| Cash and short-term investments | ¥1.71bn | ¥1.13bn | ¥1.87bn | ¥2.33bn | ¥1.93bn | ¥2.31bn | ¥1.54bn | ¥1.58bn | ¥2.13bn | ¥2.65bn |
| Total liabilities | ¥734.0m | ¥935.6m | ¥1.09bn | ¥1.08bn | ¥427.7m | ¥573.8m | ¥573.3m | ¥773.7m | ¥781.6m | ¥35.5m |
| Debt | ¥605.2m | ¥798.0m | ¥885.1m | ¥967.7m | ¥340.0m | ¥460.0m | ¥480.0m | ¥600.0m | ¥600.0m | — |
| Shareholders' equity | ¥1.44bn | ¥733.9m | ¥1.28bn | ¥1.86bn | ¥2.01bn | ¥2.16bn | ¥1.39bn | ¥1.26bn | ¥2.00bn | ¥2.74bn |
| Shares outstanding | 57m | 40m | 32m | 30m | 29m | 29m | 26m | 26m | 26m | 57m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥493.8m | −¥1.30bn | −¥586.8m | −¥354.8m | −¥176.3m | −¥216.3m | ¥175.0m | −¥540.0m | −¥797.0m | −¥333.0m |
| Capital spending | −¥2.7m | −¥9.0m | −¥14.9m | −¥9.8m | −¥2.9m | −¥5.1m | −¥5.0m | −¥6.0m | −¥4.0m | −¥37.8m |
| Free cash flow | −¥496.5m | −¥1.31bn | −¥601.8m | −¥364.6m | −¥179.2m | −¥221.4m | ¥170.0m | −¥546.0m | −¥801.0m | −¥370.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥18.0m | ¥15.1m | ¥90.5m | ¥123.9m | ¥76.2m | ¥96.8m | ¥122.7m | ¥125.4m |
| Operating income | −¥145.7m | −¥167.3m | −¥141.4m | −¥169.4m | −¥167.0m | −¥142.0m | −¥562.0m | −¥197.8m |
| Net income | −¥152.3m | −¥170.8m | −¥139.4m | −¥175.8m | −¥165.8m | −¥150.2m | −¥563.1m | −¥206.5m |
| Diluted earnings per share | -2.65 | -2.97 | -2.44 | -3.08 | -2.91 | -2.63 | -14.24 | -5.22 |
| Total assets | ¥2.05bn | ¥1.97bn | ¥2.17bn | ¥2.18bn | ¥1.51bn | ¥1.60bn | ¥1.67bn | ¥2.19bn |
| Cash and short-term investments | ¥1.58bn | ¥1.54bn | ¥1.71bn | ¥1.65bn | ¥1.05bn | ¥1.14bn | ¥1.13bn | ¥1.16bn |
| Debt | ¥583.2m | ¥126.5m | ¥605.2m | ¥46.5m | ¥518.0m | ¥19.0m | ¥19.0m | ¥19.0m |
| Shareholders' equity | ¥1.41bn | ¥1.31bn | ¥1.44bn | ¥1.46bn | ¥884.6m | ¥1.00bn | ¥733.9m | ¥1.02bn |
Financial ratios
Data as of 14 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -159.9% | -272.2% | -192.4% | -97.5% | -37.5% | -80.1% |
| Net margin | -163.1% | -273.6% | -189.7% | -95.9% | -36.0% | -77.6% |
| Return on equity | -44.0% | -175.8% | -63.5% | -23.1% | -7.4% | -12.8% |
| Return on assets | -29.1% | -77.3% | -34.2% | -14.5% | -6.0% | -10.1% |
| Free cash flow yield | -12.3% | -46.6% | -25.4% | -16.2% | -8.4% | -10.3% |
| Revenue growth | -17.8% | 10.1% | -4.4% | 8.1% | 16.5% | -38.7% |
| Earnings growth | -51.0% | 58.8% | 89.1% | 188.4% | -46.0% | -307.3% |
| Current ratio | 9.91x | 11.12x | 11.02x | 12.59x | 11.19x | 11.93x |
| Debt to equity | 0.42x | 1.09x | 0.69x | 0.52x | 0.17x | 0.21x |
| Equity ratio | 66.2% | 44.0% | 53.9% | 62.8% | 81.5% | 79.0% |
| Interest coverage | -70.32x | -246.35x | -331.05x | -138.90x | -35.10x | -60.24x |
| R&D as a share of sales | 172.8% | 290.0% | 217.2% | 104.8% | 76.3% | 98.6% |
| Buybacks as a share of market value | -44.3% | -23.0% | -5.9% | -3.3% | -0.4% | -11.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.7% | 1.7% | 20.3% |
| Operating income | 13.4% | 16.8% | 7.9% |
| Net income | 13.7% | 18.0% | 7.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -220.2% | -181.0% | -143.6% | -143.0% |
| Net margin | -223.7% | -182.3% | -143.3% | -163.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.7 | -6.2 | -5.6 | -18.5 | -42.6 | -30.6 | 128.0 | -20.1 | -8.6 | -92.5 |
| Price to sales | 14.1 | 16.9 | 10.6 | 17.7 | 15.3 | 23.8 | 29.4 | 51.4 | 53.0 | 139.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.