T 
426
+2.90%
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
¥5.72bn
FY2020FY2026
Net income
¥100.6m
FY2020FY2026
Free cash flow
−¥88.5m
FY2020FY2026
Shareholders' equity
¥1.46bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥5.72bn | ¥5.71bn | ¥4.41bn | ¥2.35bn | ¥2.42bn | ¥2.12bn | ¥1.79bn |
| Gross profit | ¥1.90bn | ¥1.63bn | ¥1.48bn | ¥578.1m | ¥693.4m | ¥542.0m | ¥333.1m |
| Research and development | — | ¥104.0m | ¥52.0m | ¥85.5m | ¥5.0m | ¥8.7m | ¥16.5m |
| Operating income | ¥115.8m | −¥61.8m | ¥38.5m | −¥269.8m | ¥133.3m | ¥60.5m | −¥174.2m |
| Net income | ¥100.6m | −¥344.0m | ¥76.2m | −¥825.3m | ¥112.3m | ¥38.0m | −¥260.7m |
| Diluted earnings per share | 11.91 | -40.75 | 9.20 | -113.73 | 16.17 | 4.50 | -30.86 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥4.64bn | ¥4.85bn | ¥4.92bn | ¥2.30bn | ¥1.79bn | ¥1.11bn | ¥927.2m |
| Cash and short-term investments | ¥1.47bn | ¥1.91bn | ¥1.61bn | ¥1.75bn | ¥1.08bn | ¥617.6m | ¥550.7m |
| Total liabilities | ¥3.18bn | ¥3.18bn | ¥4.07bn | ¥1.97bn | ¥630.9m | ¥671.3m | ¥522.9m |
| Debt | ¥1.74bn | ¥1.62bn | ¥2.33bn | ¥1.60bn | ¥288.5m | ¥262.3m | ¥233.5m |
| Shareholders' equity | ¥1.46bn | ¥1.67bn | ¥850.7m | ¥332.1m | ¥1.16bn | ¥442.4m | ¥404.4m |
| Shares outstanding | 8m | 8m | 8m | 7m | 7m | 8m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥64.5m | −¥68.7m | ¥2.6m | −¥241.3m | ¥34.1m | ¥164.4m | −¥134.9m |
| Capital spending | −¥24.0m | −¥39.1m | −¥19.8m | −¥146.5m | −¥205.4m | −¥134.4m | −¥126.3m |
| Free cash flow | −¥88.5m | −¥107.8m | −¥17.2m | −¥387.8m | −¥171.4m | ¥30.0m | −¥261.2m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.52bn | ¥1.40bn | ¥1.39bn | ¥1.42bn | ¥1.46bn | ¥1.49bn | ¥1.40bn | ¥1.36bn |
| Gross profit | ¥522.2m | ¥488.2m | ¥428.2m | ¥461.2m | ¥303.1m | ¥470.0m | ¥425.2m | ¥433.0m |
| Operating income | ¥13.9m | ¥57.9m | ¥13.8m | ¥30.2m | −¥39.9m | ¥1.0m | ¥7.3m | −¥29.0m |
| Net income | ¥15.9m | ¥48.5m | ¥6.9m | ¥29.3m | −¥15.5m | −¥365.0m | −¥9.4m | ¥47.0m |
| Diluted earnings per share | 1.89 | 5.74 | 0.82 | 3.47 | -1.84 | -43.24 | -1.11 | 5.67 |
| Cash from operations | — | — | — | — | −¥68.0m | — | — | — |
| Capital spending | — | — | — | — | −¥39.0m | — | — | — |
| Free cash flow | — | — | — | — | −¥107.0m | — | — | — |
| Total assets | ¥4.64bn | ¥4.68bn | ¥4.78bn | ¥5.05bn | ¥4.85bn | ¥5.37bn | ¥5.77bn | ¥5.96bn |
| Cash and short-term investments | ¥1.47bn | ¥1.49bn | ¥1.49bn | ¥1.73bn | ¥1.91bn | ¥2.44bn | ¥2.46bn | ¥2.48bn |
| Debt | ¥679.6m | ¥649.8m | ¥1.53bn | ¥685.8m | ¥1.62bn | ¥841.1m | ¥2.09bn | ¥885.2m |
| Shareholders' equity | ¥1.46bn | ¥1.41bn | ¥1.37bn | ¥1.36bn | ¥1.67bn | ¥1.68bn | ¥2.04bn | ¥2.03bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 28.5% | 33.5% | 24.6% | 28.6% | 25.5% | 18.6% |
| Operating margin | -3.9% | -1.9% | -34.1% | 4.4% | 3.0% | -14.4% |
| Net margin | -6.0% | 1.7% | -35.2% | 4.6% | 1.8% | -14.6% |
| Return on equity | -20.7% | 9.0% | -248.5% | 9.7% | 8.6% | -64.5% |
| Return on assets | -7.1% | 1.5% | -35.8% | 6.3% | 3.4% | -28.1% |
| Free cash flow yield | -0.6% | 0.5% | -2.3% | 6.0% | — | — |
| Revenue growth | 29.6% | 88.0% | -3.2% | 14.2% | 18.4% | — |
| Earnings growth | -551.3% | -109.2% | -834.6% | 195.5% | -114.6% | — |
| Current ratio | 1.68x | 1.29x | 2.54x | 3.08x | 1.88x | 2.08x |
| Debt to equity | 0.97x | 2.73x | 4.83x | 0.25x | 0.59x | 0.58x |
| Equity ratio | 34.4% | 17.3% | 14.4% | 64.7% | 39.7% | 43.6% |
| Interest coverage | -7.53x | -3.59x | -406.66x | 67.95x | 38.07x | -204.85x |
| R&D as a share of sales | 1.8% | 1.2% | 3.6% | 0.2% | 0.4% | 0.9% |
| Buybacks as a share of market value | -1.8% | -14.2% | -4.4% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 34.6% | 21.9% | — |
| Operating income | — | 13.9% | — |
| Net income | — | 21.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.8% | 30.7% | 30.0% | — |
| Operating margin | 0.5% | -1.0% | 0.1% | — |
| Net margin | -2.1% | -5.5% | -3.7% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | 44.9 | -17.1 | 119.4 | -5.9 | 47.3 |
| Price to sales | 0.8 | 1.0 | 2.1 | 2.1 | 2.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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