E 
960
+2.78%
Close of 9 Nov 2026, in JPY
Search any instrument
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
¥3.90bn
FY2020FY2025
Net income
−¥700.7m
FY2020FY2025
Free cash flow
−¥681.2m
FY2020FY2025
Shareholders' equity
¥3.47bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥3.90bn | ¥2.55bn | ¥1.94bn | ¥1.65bn | ¥1.36bn | ¥949.4m |
| Gross profit | ¥3.02bn | ¥2.17bn | ¥1.50bn | ¥1.09bn | ¥816.2m | ¥572.4m |
| Research and development | ¥208.2m | ¥198.2m | ¥253.4m | ¥195.4m | ¥193.5m | ¥86.2m |
| Operating income | −¥215.3m | ¥39.7m | −¥297.5m | −¥580.0m | −¥706.1m | −¥926.6m |
| Net income | −¥700.7m | −¥132.9m | −¥338.7m | −¥561.6m | −¥569.0m | −¥800.1m |
| Diluted earnings per share | -27.14 | -5.44 | -15.47 | -27.94 | -20.72 | -29.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥7.24bn | ¥4.92bn | ¥3.63bn | ¥2.35bn | ¥2.61bn | ¥2.86bn |
| Cash and short-term investments | ¥3.28bn | ¥2.75bn | ¥2.79bn | ¥2.06bn | ¥2.30bn | ¥2.60bn |
| Total liabilities | ¥3.65bn | ¥2.31bn | ¥2.61bn | ¥1.67bn | ¥1.35bn | ¥875.0m |
| Debt | ¥3.01bn | ¥1.75bn | ¥2.38bn | ¥1.43bn | ¥1.10bn | ¥621.0m |
| Shareholders' equity | ¥3.47bn | ¥2.29bn | ¥1.02bn | ¥424.2m | ¥997.5m | ¥1.57bn |
| Shares outstanding | 26m | 24m | 22m | 20m | 27m | 27m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −¥497.7m | ¥222.7m | −¥341.4m | −¥567.0m | −¥757.8m | −¥859.2m |
| Capital spending | −¥183.5m | −¥238.6m | −¥43.3m | −¥10.6m | −¥12.9m | −¥15.6m |
| Free cash flow | −¥681.2m | −¥15.9m | −¥384.7m | −¥577.6m | −¥770.7m | −¥874.9m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.53bn | ¥1.51bn | ¥1.29bn | ¥1.17bn | ¥1.03bn | ¥975.0m | ¥715.4m | ¥688.7m |
| Gross profit | ¥1.20bn | ¥1.20bn | ¥980.7m | ¥879.3m | ¥754.3m | ¥750.5m | ¥634.4m | ¥584.9m |
| Operating income | ¥130.2m | ¥207.9m | ¥119.7m | −¥78.8m | −¥153.5m | ¥30.9m | −¥13.9m | −¥52.5m |
| Net income | ¥113.6m | ¥197.0m | ¥100.2m | −¥78.0m | −¥171.1m | −¥399.8m | −¥51.8m | −¥94.4m |
| Diluted earnings per share | 4.14 | 7.17 | 3.65 | -3.02 | -6.63 | -15.48 | -2.00 | -3.86 |
| Total assets | ¥6.97bn | ¥6.77bn | ¥6.96bn | ¥7.24bn | ¥6.30bn | ¥5.98bn | ¥5.35bn | ¥4.92bn |
| Cash and short-term investments | ¥2.43bn | ¥2.33bn | ¥2.65bn | ¥3.28bn | ¥2.70bn | ¥2.06bn | ¥2.94bn | ¥2.75bn |
| Debt | ¥525.1m | ¥552.5m | ¥695.0m | ¥2.81bn | ¥1.22bn | ¥1.97bn | ¥506.3m | ¥361.3m |
| Shareholders' equity | ¥3.99bn | ¥3.85bn | ¥3.62bn | ¥3.47bn | ¥1.79bn | ¥1.93bn | ¥2.28bn | ¥2.29bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 77.5% | 85.1% | 77.3% | 65.9% | 59.9% | 60.3% |
| Operating margin | -5.5% | 1.6% | -18.3% | -40.1% | -52.2% | -97.6% |
| Net margin | -18.0% | -5.2% | -17.5% | -34.0% | -41.8% | -84.3% |
| Return on equity | -20.2% | -5.8% | -33.2% | -132.4% | -57.0% | -51.1% |
| Return on assets | -9.7% | -2.7% | -9.3% | -23.9% | -21.8% | -28.0% |
| Free cash flow yield | -1.4% | 2.2% | -1.6% | -3.2% | — | — |
| Revenue growth | 53.0% | 31.2% | 17.5% | 21.3% | 43.5% | — |
| Earnings growth | 427.2% | -60.8% | -39.7% | -1.3% | -28.9% | — |
| Current ratio | 2.44x | 4.54x | 3.65x | 2.62x | 3.03x | 6.49x |
| Debt to equity | 0.81x | 0.69x | 2.34x | 3.38x | 1.10x | 0.40x |
| Equity ratio | 48.0% | 46.6% | 28.1% | 18.0% | 38.1% | 54.7% |
| Interest coverage | -5.13x | 1.55x | -25.23x | -62.47x | -141.24x | -232.28x |
| R&D as a share of sales | 5.3% | 7.8% | 13.1% | 11.8% | 14.2% | 9.1% |
| Buybacks as a share of market value | -5.6% | -11.7% | -8.9% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.1% | 32.6% | — |
| Operating income | -28.1% | -25.3% | — |
| Net income | 7.7% | -2.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 80.5% | 77.5% | 74.2% | — |
| Operating margin | -2.7% | -10.5% | -21.8% | — |
| Net margin | -12.9% | -17.3% | -25.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -22.1 | -84.8 | -22.2 | -16.9 |
| Price to sales | 4.0 | 4.4 | 3.9 | 5.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.