F 
424
-0.24%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥2.76bn
FY2020FY2026
Net income
¥58.9m
FY2020FY2026
Free cash flow
−¥56.6m
FY2020FY2026
Shareholders' equity
¥2.21bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥2.76bn | ¥2.69bn | ¥2.76bn | ¥2.91bn | ¥2.60bn | ¥2.20bn | ¥1.94bn |
| Gross profit | ¥2.18bn | ¥2.12bn | ¥2.24bn | ¥2.44bn | ¥2.10bn | ¥1.71bn | ¥1.45bn |
| Research and development | — | — | ¥1.2m | — | — | — | — |
| Operating income | ¥127.6m | ¥333.8m | ¥327.7m | ¥739.0m | ¥591.7m | ¥373.8m | ¥205.6m |
| Net income | ¥58.9m | ¥233.7m | ¥238.9m | ¥510.0m | ¥420.3m | ¥256.9m | ¥129.8m |
| Diluted earnings per share | 12.96 | 52.33 | 50.78 | 106.30 | 93.61 | 56.52 | 28.55 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥3.54bn | ¥2.74bn | ¥2.58bn | ¥2.39bn | ¥1.48bn | ¥1.40bn | ¥1.09bn |
| Cash and short-term investments | ¥1.74bn | ¥1.96bn | ¥1.76bn | ¥1.74bn | ¥965.4m | ¥867.2m | ¥568.0m |
| Total liabilities | ¥1.33bn | ¥549.0m | ¥567.1m | ¥638.8m | ¥660.3m | ¥1.01bn | ¥957.4m |
| Debt | ¥715.1m | — | ¥11.6m | −¥191.8m | ¥20.0m | ¥485.5m | ¥583.9m |
| Shareholders' equity | ¥2.21bn | ¥2.19bn | ¥2.01bn | ¥1.75bn | ¥818.1m | ¥390.2m | ¥133.3m |
| Shares outstanding | 5m | 4m | 5m | 5m | 4m | 5m | 5m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥52.5m | ¥278.7m | ¥151.3m | ¥464.8m | ¥561.6m | ¥431.3m | ¥237.9m |
| Capital spending | −¥4.0m | −¥2.6m | −¥143.3m | −¥6.4m | −¥2.1m | −¥5.6m | −¥1.7m |
| Free cash flow | −¥56.6m | ¥276.1m | ¥8.0m | ¥458.4m | ¥559.5m | ¥425.7m | ¥236.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥915.2m | ¥556.7m | ¥623.4m | ¥663.4m | ¥725.8m | ¥658.3m | ¥647.2m | ¥654.0m |
| Gross profit | ¥694.8m | ¥443.9m | ¥505.1m | ¥537.0m | ¥585.0m | ¥520.8m | ¥517.8m | ¥517.5m |
| Operating income | ¥70.3m | −¥103.6m | ¥66.9m | ¥98.3m | ¥149.9m | ¥73.7m | ¥56.5m | ¥54.0m |
| Net income | ¥42.3m | −¥71.2m | ¥45.5m | ¥69.6m | ¥103.8m | ¥52.2m | ¥39.4m | ¥38.3m |
| Diluted earnings per share | 9.31 | -15.66 | 10.20 | 15.58 | 23.24 | 11.69 | 8.38 | 8.14 |
| Total assets | ¥3.54bn | ¥3.49bn | ¥2.78bn | ¥2.72bn | ¥2.74bn | ¥2.67bn | ¥2.69bn | ¥2.60bn |
| Cash and short-term investments | ¥1.74bn | ¥1.82bn | ¥2.15bn | ¥2.02bn | ¥1.96bn | ¥1.88bn | ¥1.97bn | ¥1.84bn |
| Debt | ¥114.4m | ¥113.0m | — | — | — | — | — | — |
| Shareholders' equity | ¥2.21bn | ¥2.20bn | ¥2.27bn | ¥2.22bn | ¥2.19bn | ¥2.13bn | ¥2.10bn | ¥2.05bn |
Financial ratios
Data as of 23 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 79.1% | 78.9% | 81.1% | 83.6% | 81.0% | 77.8% | — |
| Operating margin | 4.6% | 13.0% | 12.2% | 25.5% | 23.4% | 17.7% | — |
| Net margin | 2.1% | 8.7% | 8.7% | 17.5% | 16.2% | 11.7% | — |
| Return on equity | 2.7% | 10.7% | 11.9% | 29.2% | 51.4% | 65.8% | — |
| Return on assets | 1.7% | 8.5% | 9.3% | 21.4% | 28.4% | 18.4% | — |
| Free cash flow yield | -2.2% | 12.1% | 6.2% | 18.8% | 24.2% | — | — |
| Revenue growth | 2.7% | -2.7% | -5.2% | 12.2% | 18.0% | 13.5% | — |
| Earnings growth | -74.8% | -2.2% | -53.2% | 21.3% | 63.6% | 97.9% | — |
| Current ratio | 3.30x | 4.27x | 3.79x | 3.24x | 1.84x | 1.82x | — |
| Debt to equity | 0.05x | — | 0.01x | -0.11x | 0.02x | 1.24x | 0.74x |
| Equity ratio | 62.5% | 79.9% | 78.0% | 73.2% | 55.3% | 27.9% | — |
| Interest coverage | 19.91x | — | 612.75x | 247824.00x | 119.38x | 63.03x | 29.84x |
| R&D as a share of sales | — | — | 0.0% | — | — | — | — |
| Buybacks as a share of market value | -1.8% | 5.1% | 1.9% | -6.9% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.8% | 4.6% | — |
| Operating income | -44.3% | -19.3% | — |
| Net income | -51.3% | -25.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 79.0% | 80.7% | 80.4% | — |
| Operating margin | 8.5% | 13.7% | 15.7% | — |
| Net margin | 5.4% | 9.4% | 10.8% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | 36.6 | 17.2 | 9.5 | 5.4 | 13.6 |
| Price to sales | 0.8 | 1.5 | 0.8 | 0.9 | 2.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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