H 
301
-2.59%
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
¥4.78bn
FY2020FY2025
Net income
−¥195.1m
FY2020FY2025
Free cash flow
¥1.01bn
FY2020FY2025
Shareholders' equity
¥3.06bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥4.78bn | ¥4.92bn | ¥4.64bn | ¥4.25bn | ¥4.10bn | ¥3.40bn |
| Gross profit | ¥1.35bn | ¥1.36bn | ¥1.24bn | ¥1.14bn | ¥1.10bn | ¥1.06bn |
| Research and development | — | ¥161.4m | ¥149.1m | ¥138.2m | ¥135.9m | ¥117.0m |
| Operating income | ¥36.6m | ¥78.7m | ¥155.8m | ¥198.2m | ¥208.8m | ¥254.5m |
| Net income | −¥195.1m | ¥126.0m | ¥147.0m | ¥134.7m | ¥271.4m | ¥219.7m |
| Diluted earnings per share | -28.35 | 18.27 | 20.73 | 19.17 | 40.58 | 32.84 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥4.79bn | ¥5.13bn | ¥4.72bn | ¥4.23bn | ¥3.92bn | ¥3.39bn |
| Cash and short-term investments | ¥1.42bn | ¥840.3m | ¥830.4m | ¥1.58bn | ¥1.09bn | ¥691.1m |
| Total liabilities | ¥1.71bn | ¥1.83bn | ¥1.53bn | ¥1.27bn | ¥1.57bn | ¥1.45bn |
| Debt | ¥545.3m | ¥774.8m | ¥729.3m | ¥511.3m | ¥788.5m | ¥837.9m |
| Shareholders' equity | ¥3.06bn | ¥3.29bn | ¥3.17bn | ¥2.95bn | ¥2.35bn | ¥1.94bn |
| Shares outstanding | 7m | 7m | 7m | 7m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | ¥1.04bn | ¥361.1m | −¥417.2m | ¥395.5m | ¥413.2m | ¥41.8m |
| Capital spending | −¥22.1m | −¥28.4m | −¥52.3m | −¥40.4m | −¥33.6m | −¥192.2m |
| Free cash flow | ¥1.01bn | ¥332.8m | −¥469.5m | ¥355.2m | ¥379.5m | −¥150.4m |
| Dividends paid | −¥21.1m | −¥21.2m | −¥21.0m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.07bn | ¥1.21bn | ¥1.28bn | ¥1.10bn | ¥1.10bn | ¥1.30bn | ¥1.44bn | ¥1.13bn |
| Gross profit | ¥262.2m | ¥377.1m | ¥401.6m | ¥286.6m | ¥299.7m | ¥366.8m | ¥467.0m | ¥310.9m |
| Operating income | −¥122.2m | ¥46.1m | ¥52.9m | −¥22.9m | −¥24.1m | ¥30.6m | ¥120.1m | ¥3.5m |
| Net income | −¥149.8m | ¥36.4m | ¥34.6m | −¥213.2m | −¥31.0m | ¥14.5m | ¥146.7m | −¥10.9m |
| Diluted earnings per share | -22.40 | 5.44 | 5.03 | -30.98 | -4.50 | 2.10 | 21.27 | -1.58 |
| Total assets | ¥4.40bn | ¥4.44bn | ¥4.79bn | ¥4.59bn | ¥4.82bn | ¥4.86bn | ¥5.13bn | ¥4.99bn |
| Cash and short-term investments | ¥1.01bn | ¥1.11bn | ¥1.42bn | ¥1.67bn | ¥1.75bn | ¥560.3m | ¥840.3m | ¥1.02bn |
| Debt | ¥464.4m | ¥141.3m | ¥545.3m | ¥161.5m | ¥636.8m | ¥185.1m | ¥392.8m | ¥505.7m |
| Shareholders' equity | ¥2.97bn | ¥3.08bn | ¥3.06bn | ¥2.96bn | ¥3.13bn | ¥3.19bn | ¥3.29bn | ¥3.12bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 28.3% | 27.7% | 26.7% | 26.9% | 26.8% | 31.2% |
| Operating margin | 0.8% | 1.6% | 3.4% | 4.3% | 4.9% | 7.2% |
| Net margin | -4.1% | 2.6% | 3.2% | 3.2% | 6.6% | 6.5% |
| Return on equity | -6.4% | 3.8% | 4.6% | 4.6% | 11.5% | 11.3% |
| Return on assets | -4.1% | 2.5% | 3.1% | 3.2% | 6.9% | 6.5% |
| Free cash flow yield | 45.6% | 16.8% | -15.3% | 18.4% | — | — |
| Revenue growth | -2.8% | 6.0% | 9.1% | 3.7% | 20.7% | — |
| Earnings growth | -254.8% | -14.3% | 9.1% | -50.4% | 23.6% | — |
| Current ratio | 2.68x | 2.41x | 2.71x | 3.94x | 2.73x | 3.01x |
| Debt to equity | 0.18x | 0.24x | 0.23x | 0.17x | 0.33x | 0.43x |
| Equity ratio | 64.0% | 64.0% | 67.3% | 69.9% | 60.0% | 57.3% |
| Interest coverage | 4.30x | 8.70x | 25.53x | 19.25x | 20.20x | 28.14x |
| R&D as a share of sales | — | 3.3% | 3.2% | 3.2% | 3.3% | 3.4% |
| Buybacks as a share of market value | 0.2% | 2.8% | -1.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.1% | 7.1% | — |
| Operating income | -43.1% | -32.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.0% | 27.4% | 27.8% | — |
| Operating margin | 1.2% | 2.5% | 3.6% | — |
| Net margin | -0.7% | 1.1% | 2.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -14.2 | 21.9 | 24.9 | 34.1 |
| Price to sales | 0.6 | 0.6 | 0.8 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Paid in the year | 6.00 | 3.00 | 3.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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