N 
344
+2.08%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥49.23bn
FY2017FY2026
Net income
¥684.0m
FY2017FY2026
Free cash flow
¥14.7m
FY2017FY2026
Shareholders' equity
¥45.68bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥49.23bn | ¥52.65bn | ¥53.65bn | ¥52.99bn | ¥47.38bn | ¥48.88bn | ¥45.82bn | ¥49.98bn | ¥42.45bn | ¥34.18bn |
| Gross profit | ¥8.16bn | ¥8.66bn | ¥8.88bn | ¥6.44bn | ¥7.80bn | ¥8.55bn | ¥5.79bn | ¥7.87bn | ¥6.85bn | ¥5.62bn |
| Research and development | — | ¥678.2m | ¥336.9m | ¥385.3m | ¥520.4m | ¥339.9m | ¥331.7m | ¥348.5m | ¥337.4m | ¥234.0m |
| Operating income | ¥322.8m | ¥990.0m | ¥1.81bn | ¥221.4m | ¥1.27bn | ¥2.75bn | ¥138.4m | ¥2.14bn | ¥2.03bn | ¥1.48bn |
| Net income | ¥684.0m | −¥209.8m | ¥614.3m | −¥439.2m | ¥876.3m | ¥1.87bn | −¥35.0m | ¥1.45bn | ¥1.38bn | ¥1.19bn |
| Diluted earnings per share | 12.60 | -3.86 | 11.31 | -8.09 | 16.14 | 33.33 | -0.62 | 25.82 | 24.20 | 20.80 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥87.69bn | ¥77.28bn | ¥82.00bn | ¥77.06bn | ¥75.00bn | ¥74.83bn | ¥70.21bn | ¥75.94bn | ¥72.54bn | ¥63.56bn |
| Cash and short-term investments | ¥7.02bn | ¥7.15bn | ¥11.12bn | ¥7.14bn | ¥8.60bn | ¥8.80bn | ¥5.12bn | ¥7.03bn | ¥5.41bn | ¥3.90bn |
| Total liabilities | ¥39.24bn | ¥37.30bn | ¥41.60bn | ¥39.40bn | ¥36.33bn | ¥35.44bn | ¥32.93bn | ¥37.10bn | ¥36.19bn | ¥28.67bn |
| Debt | ¥12.47bn | ¥13.34bn | ¥13.45bn | ¥13.41bn | ¥12.95bn | ¥11.41bn | ¥10.41bn | ¥9.62bn | ¥10.05bn | ¥8.47bn |
| Shareholders' equity | ¥45.68bn | ¥36.98bn | ¥37.51bn | ¥34.95bn | ¥36.05bn | ¥37.54bn | ¥35.54bn | ¥37.19bn | ¥35.86bn | ¥34.47bn |
| Shares outstanding | 54m | 54m | 54m | 54m | 54m | 56m | 56m | 56m | 57m | 57m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥2.51bn | −¥297.3m | ¥5.84bn | ¥432.4m | ¥2.88bn | ¥4.24bn | −¥500.5m | ¥3.13bn | ¥3.40bn | ¥2.70bn |
| Capital spending | −¥2.50bn | −¥2.33bn | −¥1.46bn | −¥1.55bn | −¥1.79bn | −¥1.33bn | −¥1.66bn | −¥1.75bn | −¥1.66bn | −¥1.69bn |
| Free cash flow | ¥14.7m | −¥2.62bn | ¥4.38bn | −¥1.12bn | ¥1.09bn | ¥2.92bn | −¥2.16bn | ¥1.39bn | ¥1.74bn | ¥1.01bn |
| Dividends paid | −¥573.9m | −¥710.6m | −¥355.3m | −¥249.6m | −¥622.3m | −¥140.6m | −¥311.6m | −¥400.7m | −¥373.0m | −¥373.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥12.34bn | ¥12.00bn | ¥13.44bn | ¥12.88bn | ¥10.91bn | ¥13.33bn | ¥13.72bn | ¥12.64bn |
| Gross profit | ¥2.23bn | ¥2.03bn | ¥2.16bn | ¥2.11bn | ¥1.86bn | ¥1.95bn | ¥2.14bn | ¥2.34bn |
| Operating income | ¥313.7m | ¥17.7m | ¥175.5m | ¥258.9m | −¥129.3m | −¥127.5m | ¥225.0m | ¥504.1m |
| Net income | ¥451.8m | ¥110.8m | ¥6.1m | ¥313.1m | ¥254.1m | −¥719.1m | ¥27.9m | ¥166.4m |
| Diluted earnings per share | 8.32 | 2.04 | 0.11 | 5.77 | 4.68 | -13.24 | 0.51 | 3.06 |
| Cash from operations | — | — | — | — | — | — | — | ¥3.0m |
| Capital spending | — | — | — | — | — | — | — | −¥556.0m |
| Free cash flow | — | — | — | — | — | — | — | −¥553.0m |
| Total assets | ¥88.14bn | ¥87.69bn | ¥81.33bn | ¥80.21bn | ¥78.37bn | ¥77.28bn | ¥79.22bn | ¥77.15bn |
| Cash and short-term investments | ¥7.63bn | ¥7.02bn | ¥8.29bn | ¥8.67bn | ¥8.77bn | ¥7.15bn | ¥8.20bn | ¥8.42bn |
| Debt | ¥8.47bn | ¥12.47bn | ¥6.81bn | ¥13.86bn | ¥6.68bn | ¥12.97bn | ¥6.44bn | ¥11.97bn |
| Shareholders' equity | ¥44.93bn | ¥45.68bn | ¥40.03bn | ¥39.39bn | ¥37.84bn | ¥36.98bn | ¥37.10bn | ¥37.23bn |
Financial ratios
Data as of 27 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 16.6% | 16.4% | 16.6% | 12.2% | 16.5% | 17.5% | — |
| Operating margin | 0.7% | 1.9% | 4.4% | 0.4% | 2.7% | 5.6% | — |
| Net margin | 1.4% | -0.4% | 1.1% | -0.8% | 1.8% | 3.8% | — |
| Return on equity | 1.5% | -0.6% | 1.6% | -1.3% | 2.4% | 5.0% | — |
| Return on assets | 0.8% | -0.3% | 0.7% | -0.6% | 1.2% | 2.5% | — |
| Free cash flow yield | 25.2% | 10.2% | 36.7% | 10.0% | 23.5% | 27.1% | — |
| Revenue growth | -6.5% | -1.9% | 1.3% | 11.8% | -3.1% | 6.7% | — |
| Earnings growth | -426.1% | -134.1% | -239.9% | -150.1% | -53.2% | -5444.3% | — |
| Current ratio | 1.30x | 1.36x | 1.35x | 1.36x | 1.40x | 1.28x | — |
| Debt to equity | 0.27x | 0.35x | 0.35x | 0.37x | 0.36x | 0.29x | — |
| Equity ratio | 52.1% | 47.9% | 45.7% | 45.4% | 48.1% | 50.2% | — |
| Interest coverage | 2.34x | 10.67x | 32.90x | 3.48x | 23.29x | 54.06x | — |
| R&D as a share of sales | — | 1.3% | 0.6% | 0.7% | 1.1% | 0.7% | 0.7% |
| Buybacks as a share of market value | 0.1% | 0.0% | -0.0% | -0.0% | 3.3% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 0.1% | 4.1% |
| Operating income | 13.4% | -34.8% | -12.3% |
| Net income | — | -18.2% | -3.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.5% | 15.4% | 15.9% | 15.7% |
| Operating margin | 1.3% | 1.6% | 2.4% | 2.8% |
| Net margin | 0.5% | 0.3% | 1.1% | 1.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 27.2 | -86.2 | 32.8 | -39.7 | 13.7 | 8.4 | -502.1 | 11.1 | 10.4 | 23.9 |
| Price to sales | 0.4 | 0.3 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 | 0.3 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 22 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 14.50 | 13.00 | 6.50 | 4.50 | 11.00 | 2.50 | 5.50 | 7.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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