N 
2,530
-0.55%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥6.72bn
FY2020FY2025
Net income
¥234.1m
FY2020FY2025
Free cash flow
−¥39.3m
FY2020FY2025
Shareholders' equity
¥2.55bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥6.72bn | ¥6.46bn | ¥5.42bn | ¥4.63bn | ¥4.17bn | ¥4.08bn |
| Gross profit | ¥1.30bn | ¥1.42bn | ¥1.33bn | ¥1.03bn | ¥759.2m | ¥854.8m |
| Research and development | — | ¥18.0m | ¥11.7m | ¥4.5m | ¥5.8m | ¥6.1m |
| Operating income | ¥324.8m | ¥532.8m | ¥490.8m | ¥336.8m | ¥102.9m | ¥198.3m |
| Net income | ¥234.1m | ¥394.7m | ¥342.2m | ¥212.6m | ¥72.2m | ¥137.6m |
| Diluted earnings per share | 166.00 | 278.96 | 240.30 | 157.45 | 51.36 | 97.84 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥4.09bn | ¥3.77bn | ¥3.42bn | ¥2.82bn | ¥2.61bn | ¥2.80bn |
| Cash and short-term investments | ¥732.9m | ¥759.0m | ¥898.7m | ¥633.6m | ¥937.2m | ¥989.0m |
| Total liabilities | ¥1.54bn | ¥1.54bn | ¥1.62bn | ¥1.66bn | ¥1.67bn | ¥2.01bn |
| Debt | ¥683.9m | ¥628.2m | ¥894.1m | ¥902.7m | ¥930.5m | ¥1.39bn |
| Shareholders' equity | ¥2.55bn | ¥2.23bn | ¥1.80bn | ¥1.16bn | ¥945.0m | ¥787.7m |
| Shares outstanding | 1m | 1m | 1m | 1m | 1m | 1m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | ¥401.2m | ¥253.2m | ¥145.0m | ¥80.1m | ¥174.7m | ¥126.6m |
| Capital spending | −¥440.5m | −¥18.5m | −¥211.2m | −¥390.6m | −¥17.8m | −¥54.3m |
| Free cash flow | −¥39.3m | ¥234.7m | −¥66.2m | −¥310.5m | ¥156.9m | ¥72.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.80bn | ¥1.72bn | ¥1.73bn | ¥1.69bn | ¥1.62bn | ¥1.68bn | ¥1.72bn | ¥1.65bn |
| Gross profit | ¥461.5m | ¥375.0m | ¥406.6m | ¥294.2m | ¥274.1m | ¥321.9m | ¥412.0m | ¥332.1m |
| Operating income | ¥153.0m | ¥121.1m | ¥164.2m | ¥72.6m | −¥7.8m | ¥95.7m | ¥199.0m | ¥122.6m |
| Net income | ¥105.8m | ¥69.8m | ¥114.0m | ¥50.4m | −¥3.2m | ¥72.9m | ¥164.0m | ¥85.1m |
| Diluted earnings per share | 75.24 | 49.64 | 80.83 | 35.73 | -2.24 | 51.68 | 115.92 | 60.16 |
| Cash from operations | — | — | ¥396.0m | — | — | — | — | — |
| Capital spending | — | — | −¥23.0m | — | — | — | — | — |
| Free cash flow | — | — | ¥373.0m | — | — | — | — | — |
| Total assets | ¥4.18bn | ¥4.23bn | ¥4.09bn | ¥3.99bn | ¥4.03bn | ¥4.04bn | ¥3.77bn | ¥3.53bn |
| Cash and short-term investments | ¥896.6m | ¥1.11bn | ¥732.9m | ¥721.2m | ¥592.0m | ¥1.26bn | ¥759.0m | ¥866.9m |
| Debt | ¥927.1m | ¥521.3m | ¥683.9m | ¥400.2m | ¥907.9m | ¥416.9m | ¥308.2m | ¥320.4m |
| Shareholders' equity | ¥2.43bn | ¥2.35bn | ¥2.55bn | ¥2.41bn | ¥2.36bn | ¥2.31bn | ¥2.23bn | ¥2.06bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.3% | 22.0% | 24.6% | 22.2% | 18.2% | 21.0% |
| Operating margin | 4.8% | 8.4% | 9.1% | 7.4% | 2.9% | 5.4% |
| Net margin | 3.5% | 6.1% | 6.3% | 4.6% | 1.7% | 3.4% |
| Return on equity | 9.2% | 17.7% | 19.0% | 18.3% | 7.6% | 17.5% |
| Return on assets | 5.7% | 10.5% | 10.0% | 7.5% | 2.8% | 4.9% |
| Free cash flow yield | 10.0% | 6.3% | 3.6% | 2.1% | — | — |
| Revenue growth | 3.9% | 19.2% | 17.2% | 10.9% | 2.4% | — |
| Earnings growth | -40.7% | 15.3% | 61.0% | 194.4% | -47.5% | — |
| Current ratio | 1.91x | 2.10x | 2.02x | 1.40x | 1.83x | 1.78x |
| Debt to equity | 0.27x | 0.28x | 0.50x | 0.78x | 0.98x | 0.72x |
| Equity ratio | 62.4% | 59.2% | 52.5% | 41.2% | 36.2% | 28.1% |
| Interest coverage | 45.11x | 118.62x | 82.23x | 50.52x | 15.37x | 18.74x |
| R&D as a share of sales | — | 0.3% | 0.2% | 0.1% | 0.1% | 0.1% |
| Buybacks as a share of market value | 0.3% | 0.7% | -5.5% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.2% | 10.5% | — |
| Operating income | -1.2% | 10.4% | — |
| Net income | 3.3% | 11.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.7% | 21.9% | 21.3% | — |
| Operating margin | 6.5% | 7.3% | 6.3% | — |
| Net margin | 4.8% | 5.1% | 4.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 16.8 | 8.7 | 9.6 |
| Price to sales | 0.6 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | |
|---|---|
| Paid in the year | 105.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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