I 
2,509
+6.04%
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
¥48.98bn
FY2017FY2025
Net income
¥2.10bn
FY2017FY2025
Free cash flow
¥3.84bn
FY2017FY2025
Shareholders' equity
¥18.64bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥48.98bn | ¥45.01bn | ¥41.64bn | ¥35.27bn | ¥28.31bn | ¥23.28bn | ¥21.21bn | ¥21.21bn | ¥20.57bn |
| Gross profit | ¥28.75bn | ¥24.05bn | ¥22.24bn | ¥18.30bn | ¥15.05bn | ¥11.12bn | ¥10.07bn | ¥9.98bn | ¥10.04bn |
| Research and development | ¥249.0m | — | ¥137.0m | ¥176.0m | ¥159.0m | ¥94.0m | ¥57.0m | ¥57.0m | ¥46.0m |
| Operating income | ¥3.88bn | ¥4.58bn | ¥4.38bn | ¥3.24bn | ¥2.35bn | ¥1.51bn | ¥702.0m | ¥702.0m | ¥361.0m |
| Net income | ¥2.10bn | ¥2.94bn | ¥3.95bn | ¥1.93bn | ¥1.24bn | ¥905.0m | ¥464.0m | ¥384.0m | ¥82.0m |
| Diluted earnings per share | 119.32 | 164.33 | 218.24 | 106.32 | 69.44 | 50.52 | 25.90 | 29.09 | 12.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥37.06bn | ¥35.28bn | ¥22.92bn | ¥16.49bn | ¥14.06bn | ¥13.16bn | ¥9.45bn | ¥10.63bn | — |
| Cash and short-term investments | ¥8.53bn | ¥8.39bn | ¥8.99bn | ¥5.48bn | ¥6.80bn | ¥7.27bn | ¥2.32bn | ¥3.32bn | — |
| Total liabilities | ¥16.95bn | ¥18.73bn | ¥8.59bn | ¥6.16bn | ¥5.64bn | ¥6.22bn | ¥7.67bn | ¥9.32bn | — |
| Debt | ¥6.64bn | ¥10.02bn | ¥59.0m | ¥194.0m | ¥853.0m | ¥2.00bn | ¥4.03bn | ¥4.06bn | — |
| Shareholders' equity | ¥18.64bn | ¥16.54bn | ¥14.33bn | ¥10.33bn | ¥8.41bn | ¥6.93bn | ¥1.73bn | ¥1.30bn | — |
| Shares outstanding | 18m | 18m | 18m | 18m | 18m | 18m | 18m | 13m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥4.06bn | ¥38.0m | ¥1.24bn | ¥1.24bn | ¥573.0m | ¥2.74bn | −¥853.0m | −¥259.0m | — |
| Capital spending | −¥221.0m | −¥370.0m | −¥333.0m | −¥1.98bn | −¥91.0m | −¥176.0m | −¥58.0m | −¥53.0m | — |
| Free cash flow | ¥3.84bn | −¥332.0m | ¥903.0m | −¥742.0m | ¥482.0m | ¥2.57bn | −¥911.0m | −¥312.0m | — |
| Dividends paid | −¥227.0m | −¥230.0m | — | — | — | — | −¥80.0m | −¥80.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥14.31bn | ¥12.49bn | ¥14.61bn | ¥12.04bn | ¥11.21bn | ¥11.12bn | ¥13.70bn | ¥11.00bn |
| Gross profit | ¥8.97bn | ¥7.48bn | ¥8.94bn | ¥6.93bn | ¥6.63bn | ¥6.24bn | ¥7.39bn | ¥5.79bn |
| Operating income | ¥1.25bn | ¥767.0m | ¥1.67bn | ¥519.0m | ¥787.0m | ¥902.0m | ¥1.63bn | ¥923.0m |
| Net income | ¥875.0m | ¥173.0m | ¥992.0m | ¥183.0m | ¥550.0m | ¥373.0m | ¥1.36bn | ¥335.0m |
| Diluted earnings per share | 48.85 | 9.66 | 56.42 | 10.41 | 31.28 | 21.21 | 76.18 | 18.74 |
| Cash from operations | — | — | — | — | ¥1.28bn | ¥1.28bn | — | — |
| Capital spending | — | — | — | — | −¥58.0m | −¥58.0m | — | — |
| Free cash flow | — | — | — | — | ¥1.22bn | ¥1.22bn | — | — |
| Total assets | ¥33.42bn | ¥34.84bn | ¥37.06bn | ¥35.22bn | ¥35.70bn | ¥36.42bn | ¥35.28bn | ¥20.32bn |
| Cash and short-term investments | ¥6.90bn | ¥8.42bn | ¥8.53bn | ¥6.73bn | ¥7.79bn | ¥8.39bn | ¥8.39bn | ¥4.22bn |
| Debt | ¥6.00bn | ¥1.28bn | ¥6.64bn | ¥1.28bn | ¥7.29bn | ¥10.01bn | ¥10.02bn | ¥30.0m |
| Shareholders' equity | ¥17.99bn | ¥18.57bn | ¥18.64bn | ¥17.60bn | ¥17.38bn | ¥16.76bn | ¥16.54bn | ¥15.22bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 58.7% | 53.4% | 53.4% | 51.9% | 53.2% | 47.8% | — |
| Operating margin | 7.9% | 10.2% | 10.5% | 9.2% | 8.3% | 6.5% | — |
| Net margin | 4.3% | 6.5% | 9.5% | 5.5% | 4.4% | 3.9% | — |
| Return on equity | 11.3% | 17.8% | 27.6% | 18.7% | 14.8% | 13.1% | — |
| Return on assets | 5.7% | 8.3% | 17.3% | 11.7% | 8.8% | 6.9% | — |
| Free cash flow yield | 10.7% | 1.0% | 3.8% | 7.8% | — | — | — |
| Revenue growth | 8.8% | 8.1% | 18.1% | 24.6% | 21.6% | 9.8% | — |
| Earnings growth | -28.6% | -25.7% | 105.2% | 54.9% | 37.5% | 95.0% | — |
| Current ratio | 2.39x | 1.22x | 2.38x | 2.27x | 2.44x | 2.41x | — |
| Debt to equity | 0.36x | 0.61x | 0.00x | 0.02x | 0.10x | 0.29x | — |
| Equity ratio | 50.3% | 46.9% | 62.5% | 62.7% | 59.9% | 52.7% | — |
| Interest coverage | 61.60x | 654.71x | — | 463.14x | 146.94x | 36.00x | 12.54x |
| R&D as a share of sales | 0.5% | — | 0.3% | 0.5% | 0.6% | 0.4% | 0.3% |
| Buybacks as a share of market value | 1.7% | 1.3% | 0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.6% | 16.0% | — |
| Operating income | 6.2% | 20.7% | — |
| Net income | 2.9% | 18.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.2% | 54.6% | 53.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 11.1 | 12.0 | 11.3 | 27.8 | 24.3 | 31.7 |
| Price to sales | 0.5 | 0.8 | 1.1 | 1.5 | 1.1 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 28.00 | 13.00 |
- 2-for-1 split · 29 Nov 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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