P 
851
+2.28%
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
¥50.91bn
FY2020FY2025
Net income
¥1.08bn
FY2020FY2025
Free cash flow
−¥968.3m
FY2020FY2025
Shareholders' equity
¥8.39bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥50.91bn | ¥41.61bn | ¥36.97bn | ¥38.80bn | ¥29.54bn | ¥26.46bn |
| Gross profit | ¥7.44bn | ¥6.64bn | ¥6.39bn | ¥6.87bn | ¥5.41bn | ¥4.34bn |
| Research and development | — | — | ¥0 | ¥0 | ¥0 | ¥0 |
| Operating income | ¥2.17bn | ¥1.36bn | ¥1.32bn | ¥2.36bn | ¥1.69bn | ¥1.04bn |
| Net income | ¥1.08bn | ¥635.6m | ¥661.7m | ¥1.39bn | ¥1.03bn | ¥514.6m |
| Diluted earnings per share | 87.53 | 51.31 | 53.36 | 131.61 | 82.85 | 41.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥43.57bn | ¥40.79bn | ¥38.08bn | ¥30.93bn | ¥25.92bn | ¥21.82bn |
| Cash and short-term investments | ¥4.90bn | ¥7.26bn | ¥5.76bn | ¥6.37bn | ¥5.35bn | ¥5.95bn |
| Total liabilities | ¥35.18bn | ¥33.31bn | ¥30.95bn | ¥25.66bn | ¥21.54bn | ¥18.48bn |
| Debt | ¥31.17bn | ¥29.93bn | ¥27.36bn | ¥21.51bn | ¥17.04bn | ¥14.51bn |
| Shareholders' equity | ¥8.39bn | ¥7.48bn | ¥7.12bn | ¥5.27bn | ¥4.37bn | ¥3.34bn |
| Shares outstanding | 12m | 12m | 12m | 11m | 12m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −¥908.6m | −¥2.95bn | −¥6.96bn | −¥2.55bn | −¥2.77bn | ¥568.6m |
| Capital spending | −¥59.7m | −¥48.0m | −¥518.3m | −¥335.0m | −¥264.0m | −¥114.4m |
| Free cash flow | −¥968.3m | −¥3.00bn | −¥7.47bn | −¥2.89bn | −¥3.03bn | ¥454.1m |
| Dividends paid | −¥184.3m | −¥186.9m | — | — | — | — |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥13.05bn | ¥13.02bn | ¥11.49bn | ¥14.84bn | ¥11.87bn | ¥13.86bn | ¥10.34bn | ¥13.78bn |
| Gross profit | ¥1.93bn | ¥2.11bn | ¥1.76bn | ¥1.98bn | ¥1.83bn | ¥2.05bn | ¥1.72bn | ¥2.30bn |
| Operating income | ¥614.9m | ¥816.4m | ¥437.4m | ¥575.6m | ¥467.0m | ¥685.5m | ¥445.6m | ¥952.1m |
| Net income | ¥260.7m | ¥412.3m | ¥151.0m | ¥301.4m | ¥235.0m | ¥355.0m | ¥190.4m | ¥586.8m |
| Diluted earnings per share | 20.87 | 33.01 | 12.09 | 24.37 | 19.00 | 28.71 | 15.40 | 47.37 |
| Cash from operations | — | — | — | −¥908.0m | — | — | — | — |
| Capital spending | — | — | — | −¥59.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥967.0m | — | — | — | — |
| Total assets | ¥46.52bn | ¥45.18bn | ¥42.53bn | ¥43.57bn | ¥43.70bn | ¥40.88bn | ¥39.59bn | ¥40.80bn |
| Cash and short-term investments | ¥5.63bn | ¥5.99bn | ¥4.82bn | ¥4.90bn | ¥4.95bn | ¥4.69bn | ¥4.72bn | ¥7.26bn |
| Debt | ¥30.59bn | ¥32.68bn | ¥28.20bn | ¥31.17bn | ¥27.74bn | ¥29.19bn | ¥24.45bn | ¥24.64bn |
| Shareholders' equity | ¥8.94bn | ¥8.67bn | ¥8.26bn | ¥8.39bn | ¥8.08bn | ¥7.84bn | ¥7.48bn | ¥7.48bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.6% | 16.0% | 17.3% | 17.7% | 18.3% | 16.4% |
| Operating margin | 4.2% | 3.4% | 3.8% | 6.2% | 5.9% | 4.0% |
| Net margin | 2.1% | 1.5% | 1.8% | 3.6% | 3.5% | 1.9% |
| Return on equity | 12.9% | 8.5% | 9.3% | 26.4% | 23.7% | 15.4% |
| Return on assets | 2.5% | 1.6% | 1.7% | 4.5% | 4.0% | 2.4% |
| Free cash flow yield | -8.8% | -30.2% | -66.8% | -27.0% | — | — |
| Revenue growth | 22.3% | 12.6% | -4.7% | 31.3% | 11.6% | — |
| Earnings growth | 70.3% | -3.9% | -52.5% | 34.6% | 101.1% | — |
| Current ratio | 0.17x | 1.36x | 1.41x | 1.31x | 1.40x | 1.49x |
| Debt to equity | 3.71x | 4.00x | 3.84x | 4.08x | 3.90x | 2.70x |
| Equity ratio | 19.3% | 18.3% | 18.7% | 17.0% | 16.9% | 15.3% |
| Interest coverage | 4.52x | 3.68x | 4.47x | 10.75x | 10.33x | 6.16x |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.2% | 0.1% | -17.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.5% | 14.0% | — |
| Operating income | -2.7% | 15.8% | — |
| Net income | -8.1% | 16.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.2% | 16.2% | 16.5% | — |
| Operating margin | 3.8% | 4.3% | 4.4% | — |
| Net margin | 1.9% | 2.2% | 2.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 8.5 | 5.9 | 7.4 | 7.3 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 27 Nov 2025.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 40.00 | 15.00 |
- 3-for-1 split · 30 Jul 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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