T 
229
+3.62%
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
¥200.0m
FY2020FY2026
Net income
−¥761.8m
FY2020FY2026
Free cash flow
−¥586.6m
FY2020FY2026
Shareholders' equity
¥863.9m
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥200.0m | ¥1.36bn | ¥673.5m | ¥954.7m | ¥640.9m | ¥687.5m | ¥441.6m |
| Research and development | — | ¥254.1m | ¥205.3m | ¥126.3m | ¥117.0m | ¥108.2m | ¥81.9m |
| Operating income | −¥786.2m | ¥237.1m | −¥642.0m | ¥167.0m | ¥136.2m | ¥250.2m | ¥14.7m |
| Net income | −¥761.8m | ¥205.8m | −¥641.3m | ¥90.2m | ¥153.3m | ¥201.6m | ¥3.0m |
| Diluted earnings per share | -29.53 | 7.98 | -24.63 | 3.53 | 5.98 | 7.82 | 0.12 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥1.32bn | ¥2.50bn | ¥2.30bn | ¥2.67bn | ¥1.62bn | ¥1.08bn | ¥530.5m |
| Cash and short-term investments | ¥969.8m | ¥1.54bn | ¥1.88bn | ¥2.16bn | ¥1.17bn | ¥610.8m | ¥380.7m |
| Total liabilities | ¥454.9m | ¥915.9m | ¥927.9m | ¥722.6m | ¥873.4m | ¥487.5m | ¥200.1m |
| Debt | ¥69.2m | ¥90.4m | ¥116.9m | ¥139.3m | ¥223.8m | ¥242.3m | ¥61.0m |
| Shareholders' equity | ¥863.9m | ¥1.59bn | ¥1.37bn | ¥1.95bn | ¥744.4m | ¥591.0m | ¥330.4m |
| Shares outstanding | 26m | 26m | 26m | 26m | 26m | 26m | 26m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥577.8m | −¥317.8m | −¥301.4m | ¥28.5m | ¥654.9m | ¥36.7m | ¥262.8m |
| Capital spending | −¥8.8m | −¥14.0m | −¥12.0m | −¥43.8m | −¥72.2m | −¥37.7m | −¥3.6m |
| Free cash flow | −¥586.6m | −¥331.7m | −¥313.4m | −¥15.3m | ¥582.7m | −¥940,000 | ¥259.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥215.4m | ¥54.4m | ¥42.8m | ¥77.9m | ¥24.9m | ¥565.0m | ¥305.5m | ¥461.2m |
| Operating income | −¥170.2m | −¥246.9m | −¥188.8m | −¥133.4m | −¥217.2m | ¥145.3m | ¥21.7m | ¥244.1m |
| Net income | −¥134.2m | −¥241.8m | −¥186.2m | −¥131.5m | −¥202.3m | ¥121.3m | ¥39.6m | ¥219.6m |
| Diluted earnings per share | -5.20 | -9.37 | -7.22 | -5.10 | -7.84 | 4.70 | 1.52 | 8.43 |
| Total assets | ¥1.31bn | ¥1.32bn | ¥1.67bn | ¥1.89bn | ¥2.02bn | ¥2.50bn | ¥2.28bn | ¥2.22bn |
| Cash and short-term investments | ¥699.3m | ¥969.8m | ¥1.18bn | ¥1.39bn | ¥1.47bn | ¥1.54bn | ¥1.83bn | ¥1.36bn |
| Debt | ¥22.3m | ¥69.2m | ¥22.3m | ¥80.4m | ¥19.6m | ¥90.4m | ¥22.6m | ¥102.6m |
| Shareholders' equity | ¥733.8m | ¥863.9m | ¥1.11bn | ¥1.29bn | ¥1.39bn | ¥1.59bn | ¥1.46bn | ¥1.41bn |
Financial ratios
Data as of 6 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -393.1% | 17.5% | -95.3% | 17.5% | 21.2% | 36.4% | — |
| Net margin | -380.9% | 15.2% | -95.2% | 9.4% | 23.9% | 29.3% | — |
| Return on equity | -88.2% | 13.0% | -46.9% | 4.6% | 20.6% | 34.1% | — |
| Return on assets | -57.8% | 8.2% | -27.9% | 3.4% | 9.5% | 18.7% | — |
| Free cash flow yield | -8.5% | -4.7% | -4.4% | 0.4% | 9.7% | — | — |
| Revenue growth | -85.3% | 101.5% | -29.5% | 49.0% | -6.8% | 55.7% | — |
| Earnings growth | -470.2% | -132.1% | -811.1% | -41.2% | -24.0% | 6584.6% | — |
| Current ratio | 3.14x | 2.89x | 2.66x | 4.23x | 2.25x | 3.81x | — |
| Debt to equity | 0.08x | 0.06x | 0.09x | 0.07x | 0.30x | 0.41x | — |
| Equity ratio | 65.5% | 63.4% | 59.6% | 73.0% | 46.0% | 54.8% | — |
| Interest coverage | -1126.41x | 218.48x | -638.81x | 214.69x | 132.59x | 192.35x | — |
| R&D as a share of sales | — | 18.7% | 30.5% | 13.2% | 18.3% | 15.7% | 18.6% |
| Buybacks as a share of market value | 0.0% | 0.9% | -1.8% | 0.3% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -40.4% | -21.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -35.3% | -32.2% | -14.1% | — |
| Net margin | -35.7% | -34.8% | -16.7% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | -7.8 | 42.6 | -15.8 | 95.0 | 146.3 |
| Price to sales | 29.8 | 6.5 | 15.1 | 9.1 | 35.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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