M 
831
+0.24%
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
¥1.08bn
FY2021FY2025
Net income
−¥23.0m
FY2021FY2025
Free cash flow
−¥25.6m
FY2021FY2025
Shareholders' equity
¥1.95bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | ¥1.08bn | ¥1.33bn | ¥1.81bn | ¥2.25bn | ¥1.74bn |
| Gross profit | ¥823.7m | ¥1.03bn | ¥1.45bn | ¥1.79bn | ¥1.35bn |
| Research and development | — | — | ¥66.1m | ¥86.8m | ¥31.2m |
| Operating income | −¥34.1m | ¥157.5m | ¥618.9m | ¥995.4m | ¥883.2m |
| Net income | −¥23.0m | ¥101.0m | ¥387.6m | ¥653.8m | ¥650.9m |
| Diluted earnings per share | -6.46 | 28.43 | 106.13 | 186.35 | 185.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | ¥2.12bn | ¥2.26bn | ¥2.25bn | ¥2.08bn | ¥1.70bn |
| Cash and short-term investments | ¥1.68bn | ¥1.81bn | ¥1.93bn | ¥1.74bn | ¥1.42bn |
| Total liabilities | ¥167.5m | ¥234.5m | ¥373.0m | ¥744.0m | ¥655.3m |
| Debt | — | ¥7.4m | ¥15.4m | ¥23.4m | ¥31.3m |
| Shareholders' equity | ¥1.95bn | ¥2.02bn | ¥1.88bn | ¥1.34bn | ¥1.04bn |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | −¥25.3m | −¥77.6m | ¥48.3m | ¥696.3m | ¥1.11bn |
| Capital spending | −¥240,000 | — | −¥5.2m | −¥1.3m | −¥12.6m |
| Free cash flow | −¥25.6m | −¥77.6m | ¥43.1m | ¥695.0m | ¥1.10bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥288.9m | ¥291.7m | ¥292.8m | ¥258.2m | ¥245.5m | ¥281.5m | ¥356.8m | ¥293.5m |
| Gross profit | ¥220.2m | ¥225.1m | ¥221.0m | ¥198.3m | ¥186.1m | ¥218.3m | ¥250.1m | ¥235.0m |
| Operating income | −¥15.9m | −¥10.4m | ¥15.3m | −¥6.8m | −¥29.6m | −¥12.8m | ¥30.2m | ¥30.0m |
| Net income | −¥11.6m | −¥5.1m | ¥14.6m | −¥7.9m | −¥19.2m | −¥10.5m | ¥13.2m | ¥20.7m |
| Diluted earnings per share | -3.30 | -1.45 | 4.09 | -2.21 | -5.40 | -2.94 | 3.72 | 5.83 |
| Cash from operations | — | — | — | — | ¥65.0m | — | −¥129.0m | — |
| Total assets | ¥2.17bn | ¥2.16bn | ¥2.12bn | ¥2.12bn | ¥2.18bn | ¥2.23bn | ¥2.26bn | ¥2.23bn |
| Cash and short-term investments | ¥1.68bn | ¥1.64bn | ¥1.68bn | ¥1.71bn | ¥1.82bn | ¥1.90bn | ¥1.81bn | ¥1.93bn |
| Debt | — | — | — | ¥1.4m | ¥3.4m | ¥5.4m | ¥7.4m | ¥8.0m |
| Shareholders' equity | ¥1.93bn | ¥1.94bn | ¥1.95bn | ¥1.93bn | ¥1.99bn | ¥2.01bn | ¥2.02bn | ¥2.01bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 76.4% | 77.2% | 80.2% | 79.3% | 77.7% |
| Operating margin | -3.2% | 11.8% | 33.3% | 44.3% | 50.8% |
| Net margin | -2.1% | 7.6% | 21.4% | 29.0% | 37.4% |
| Return on equity | -1.2% | 5.0% | 20.6% | 48.9% | 62.4% |
| Return on assets | -1.1% | 4.5% | 17.2% | 31.4% | 38.3% |
| Free cash flow yield | -0.8% | — | 1.7% | — | — |
| Revenue growth | -19.1% | -26.3% | -19.6% | 29.4% | — |
| Earnings growth | -122.8% | -73.9% | -40.7% | 0.5% | — |
| Current ratio | 11.51x | 8.98x | 5.90x | 2.70x | 2.53x |
| Debt to equity | — | 0.00x | 0.01x | 0.02x | 0.03x |
| Equity ratio | 92.1% | 89.6% | 83.4% | 64.2% | 61.4% |
| Interest coverage | -1707.15x | 2218.08x | 35391.71x | — | — |
| R&D as a share of sales | — | — | 3.7% | 3.9% | 1.8% |
| Buybacks as a share of market value | -0.2% | 2.7% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 76.8% | 78.6% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -134.5 | 36.6 | 19.1 |
| Price to sales | 2.9 | 2.8 | 4.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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