R 
3,285
+1.70%
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
¥9.79bn
FY2021FY2025
Net income
¥559.2m
FY2021FY2025
Free cash flow
−¥4.18bn
FY2021FY2025
Shareholders' equity
¥3.35bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | ¥9.79bn | ¥7.95bn | ¥6.97bn | ¥5.84bn | ¥3.81bn |
| Gross profit | ¥1.68bn | ¥1.29bn | ¥983.2m | ¥788.7m | ¥570.7m |
| Research and development | — | — | ¥0 | ¥0 | ¥0 |
| Operating income | ¥1.04bn | ¥766.8m | ¥548.9m | ¥429.3m | ¥86.2m |
| Net income | ¥559.2m | ¥380.4m | ¥278.6m | ¥36.1m | ¥53.9m |
| Diluted earnings per share | 95.29 | 66.52 | 49.17 | 6.76 | 8.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | ¥21.26bn | ¥15.89bn | ¥11.41bn | ¥7.76bn | ¥4.91bn |
| Cash and short-term investments | ¥947.1m | ¥1.13bn | ¥1.96bn | ¥642.9m | ¥394.2m |
| Total liabilities | ¥17.91bn | ¥13.18bn | ¥9.13bn | ¥7.02bn | ¥4.21bn |
| Debt | ¥13.94bn | ¥9.71bn | ¥5.77bn | ¥4.16bn | ¥1.78bn |
| Shareholders' equity | ¥3.35bn | ¥2.71bn | ¥2.28bn | ¥736.9m | ¥695.5m |
| Shares outstanding | 6m | 6m | 6m | 5m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | ¥3.56bn | −¥1.33bn | ¥1.51bn | ¥410.6m | ¥865.1m |
| Capital spending | −¥7.74bn | −¥3.20bn | −¥2.93bn | −¥2.31bn | −¥824.9m |
| Free cash flow | −¥4.18bn | −¥4.53bn | −¥1.42bn | −¥1.90bn | ¥40.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.04bn | ¥1.72bn | ¥3.95bn | ¥1.63bn | ¥1.77bn | ¥3.57bn | ¥2.82bn | ¥1.48bn |
| Gross profit | ¥181.4m | ¥196.7m | ¥1.00bn | ¥218.8m | ¥346.0m | ¥706.5m | ¥405.0m | ¥156.1m |
| Operating income | ¥112.1m | ¥127.3m | ¥908.1m | ¥63.7m | ¥197.0m | ¥544.3m | ¥237.0m | ¥19.4m |
| Net income | −¥26.0m | ¥17.7m | ¥576.3m | −¥19.7m | ¥101.0m | ¥352.6m | ¥124.0m | −¥63.1m |
| Diluted earnings per share | -4.02 | 2.73 | 98.19 | -3.36 | 17.21 | 60.08 | 21.69 | -11.04 |
| Cash from operations | — | — | — | ¥3.56bn | — | — | — | — |
| Capital spending | — | — | — | −¥7.74bn | — | — | — | — |
| Free cash flow | — | — | — | −¥4.18bn | — | — | — | — |
| Total assets | ¥28.68bn | ¥25.24bn | ¥22.13bn | ¥21.26bn | ¥18.96bn | ¥18.68bn | ¥17.99bn | ¥15.89bn |
| Cash and short-term investments | ¥2.17bn | ¥551.5m | ¥1.37bn | ¥947.1m | ¥2.05bn | ¥2.14bn | ¥1.80bn | ¥1.13bn |
| Debt | ¥3.78bn | ¥17.46bn | ¥1.78bn | ¥13.94bn | ¥1.01bn | ¥11.66bn | ¥4.24bn | ¥4.13bn |
| Shareholders' equity | ¥6.50bn | ¥4.06bn | ¥3.94bn | ¥3.35bn | ¥3.36bn | ¥3.25bn | ¥2.85bn | ¥2.71bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 17.1% | 16.3% | 14.1% | 13.5% | 15.0% |
| Operating margin | 9.8% | 9.6% | 7.9% | 7.3% | 2.3% |
| Net margin | 5.7% | 4.8% | 4.0% | 0.6% | 1.4% |
| Return on equity | 16.7% | 14.0% | 12.2% | 4.9% | 7.8% |
| Return on assets | 2.6% | 2.4% | 2.4% | 0.5% | 1.1% |
| Free cash flow yield | 52.0% | 8.8% | 21.2% | 13.8% | — |
| Revenue growth | 23.2% | 14.0% | 19.3% | 53.3% | — |
| Earnings growth | 47.0% | 36.5% | 671.7% | -33.1% | — |
| Current ratio | 1.15x | 0.95x | 0.93x | 1.04x | 0.63x |
| Debt to equity | 4.16x | 3.58x | 2.53x | 5.64x | 2.56x |
| Equity ratio | 15.8% | 17.1% | 20.0% | 9.5% | 14.2% |
| Interest coverage | 5.99x | 11.68x | 11.63x | 13.34x | 6.25x |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -2.6% | -0.9% | -6.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.3% | — | — |
| Operating income | 34.4% | — | — |
| Net income | 149.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.7% | 15.5% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 24.6 | 18.9 | 14.3 |
| Price to sales | 1.4 | 0.9 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 28 Mar 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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