T 
919
+6.86%
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
¥1.42bn
FY2016FY2025
Net income
−¥423.1m
FY2016FY2025
Free cash flow
−¥850.7m
FY2016FY2025
Shareholders' equity
¥4.36bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.42bn | ¥961.3m | ¥636.0m | ¥721.9m | ¥1.00bn | ¥1.00bn | ¥1.72bn | ¥1.51bn | ¥1.78bn | ¥1.58bn |
| Operating income | −¥204.9m | ¥2.2m | −¥8.0m | ¥832.6m | −¥93.3m | ¥98.4m | ¥250.7m | −¥62.0m | −¥109.7m | −¥372.1m |
| Net income | −¥423.1m | ¥194.8m | ¥102.0m | ¥468.6m | −¥225.0m | ¥2.6m | ¥125.1m | −¥131.1m | ¥135.2m | −¥494.8m |
| Diluted earnings per share | -54.20 | 24.02 | 13.07 | 52.03 | -29.05 | 0.35 | 16.97 | -15.75 | 15.46 | -56.61 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.97bn | ¥5.67bn | ¥5.60bn | ¥6.22bn | ¥6.42bn | ¥6.50bn | ¥6.86bn | ¥7.45bn | ¥6.04bn | ¥5.86bn |
| Cash and short-term investments | ¥3.29bn | ¥2.88bn | ¥3.04bn | ¥1.36bn | ¥853.6m | ¥1.72bn | ¥2.14bn | ¥2.21bn | ¥3.70bn | ¥2.59bn |
| Total liabilities | ¥606.7m | ¥446.1m | ¥451.5m | ¥889.9m | ¥2.27bn | ¥2.27bn | ¥2.43bn | ¥2.59bn | ¥910.9m | ¥780.0m |
| Debt | ¥464.0m | ¥233.5m | ¥237.5m | ¥541.9m | ¥2.03bn | ¥1.91bn | ¥2.02bn | ¥2.13bn | ¥220.3m | ¥209.7m |
| Shareholders' equity | ¥4.36bn | ¥5.23bn | ¥5.15bn | ¥5.33bn | ¥4.15bn | ¥4.23bn | ¥4.43bn | ¥4.86bn | ¥5.13bn | ¥5.08bn |
| Shares outstanding | 8m | 8m | 8m | 9m | 8m | 7m | 7m | 8m | 9m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥849.8m | −¥187.1m | −¥557.3m | −¥185.9m | −¥77.8m | −¥103.9m | ¥382.6m | −¥67.0m | ¥135.0m | ¥58.0m |
| Capital spending | −¥888,000 | −¥5.2m | −¥4.0m | −¥17.0m | −¥768.5m | −¥291.0m | −¥1.5m | −¥3.14bn | −¥4.0m | −¥965.9m |
| Free cash flow | −¥850.7m | −¥192.3m | −¥561.3m | −¥202.8m | −¥846.3m | −¥394.9m | ¥381.1m | −¥3.21bn | ¥131.0m | −¥907.9m |
| Dividends paid | −¥73,000 | −¥240,000 | −¥879,000 | −¥93.3m | −¥90.8m | −¥110.9m | −¥99.5m | −¥125.0m | −¥104.0m | −¥107.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥292.1m | ¥174.4m | ¥55.9m | ¥923.8m | ¥374.5m | ¥70.3m | ¥427.0m | ¥133.0m |
| Operating income | −¥2.4m | −¥64.5m | −¥207.6m | ¥11.8m | ¥62.5m | −¥71.6m | ¥40.0m | −¥42.5m |
| Net income | ¥179.6m | −¥41.8m | −¥647.8m | ¥10.8m | ¥30.7m | ¥183.3m | ¥74.0m | −¥28.0m |
| Diluted earnings per share | 20.55 | -4.79 | -82.99 | 1.38 | 3.93 | 23.48 | 9.13 | -3.45 |
| Total assets | ¥5.35bn | ¥5.16bn | ¥4.97bn | ¥5.90bn | ¥5.79bn | ¥5.56bn | ¥5.67bn | ¥5.64bn |
| Cash and short-term investments | ¥2.77bn | ¥3.57bn | ¥3.29bn | ¥3.24bn | ¥2.68bn | ¥2.98bn | ¥2.88bn | ¥2.97bn |
| Debt | ¥430.0m | ¥430.0m | ¥464.0m | ¥34.0m | ¥304.0m | ¥34.0m | ¥10.9m | ¥10.8m |
| Shareholders' equity | ¥4.79bn | ¥4.61bn | ¥4.36bn | ¥5.23bn | ¥5.17bn | ¥5.27bn | ¥5.23bn | ¥5.14bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2008 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -25.9% | 26.7% | 27.3% | 116.0% | -8.8% | 15.5% | — | — | — | — |
| Net margin | -29.7% | 20.3% | 16.0% | 64.9% | -22.4% | 0.3% | — | — | — | — |
| Return on equity | -9.7% | 3.7% | 2.0% | 8.8% | -5.4% | 0.1% | — | — | — | — |
| Return on assets | -8.5% | 3.4% | 1.8% | 7.5% | -3.5% | 0.0% | — | — | — | — |
| Free cash flow yield | -11.0% | -2.3% | -7.2% | -1.9% | 9.0% | 2.6% | — | — | — | — |
| Revenue growth | 48.2% | 51.1% | -11.9% | -28.2% | 0.0% | -41.4% | — | — | — | — |
| Earnings growth | -317.2% | 91.0% | -78.2% | -308.3% | -8843.9% | -97.9% | — | — | — | — |
| Current ratio | 8.00x | 18.17x | 17.86x | 6.50x | 5.48x | 6.63x | — | — | — | — |
| Debt to equity | 0.11x | 0.04x | 0.05x | 0.10x | 0.49x | 0.45x | — | — | — | — |
| Equity ratio | 87.8% | 92.1% | 91.9% | 85.7% | 64.7% | 65.0% | — | — | — | — |
| Interest coverage | -30.38x | 38.68x | 23.30x | 7.36x | -1.00x | 1.87x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 1.0% | 3.5% | 1.0% | 0.4% |
| Buybacks as a share of market value | 3.7% | -3.9% | 13.4% | -16.3% | -4.6% | -0.4% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.4% | 7.2% | -5.4% |
| Operating income | — | — | 11.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -8.5% | 16.6% | 10.9% | 1.8% |
| Net margin | -9.6% | 9.1% | 2.1% | -0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.0 | 11.9 | 26.2 | 8.2 | -10.7 | — | 30.8 | -17.0 | 25.5 | -5.9 |
| Price to sales | 2.7 | 2.4 | 4.2 | 5.3 | 2.4 | 2.5 | 2.2 | 1.5 | 1.9 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Dec 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 18.00 | 12.00 | 12.00 | 12.00 | 12.00 | 12.00 | 12.00 | 10.00 |
- 10-for-1 split · 26 Jun 2013
- 10-for-1 split · 26 Apr 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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