A 
271
-1.45%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥7.89bn
FY2017FY2026
Net income
¥161.2m
FY2017FY2026
Free cash flow
−¥25.5m
FY2017FY2026
Shareholders' equity
¥9.39bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥7.89bn | ¥8.30bn | ¥9.42bn | ¥9.66bn | ¥9.54bn | ¥9.03bn | ¥10.42bn | ¥11.07bn | ¥11.78bn | ¥12.06bn |
| Gross profit | ¥1.53bn | ¥1.30bn | ¥1.54bn | ¥1.85bn | ¥1.94bn | ¥1.57bn | ¥1.80bn | ¥1.79bn | ¥2.15bn | ¥2.30bn |
| Research and development | ¥89.3m | ¥102.2m | ¥97.3m | ¥115.0m | ¥121.8m | ¥144.8m | ¥121.3m | ¥116.5m | ¥57.7m | ¥58.6m |
| Operating income | ¥9.6m | −¥214.6m | −¥32.2m | ¥216.4m | ¥281.3m | −¥72.7m | −¥24.1m | −¥139.1m | ¥285.7m | ¥445.6m |
| Net income | ¥161.2m | ¥27.8m | ¥77.9m | ¥269.2m | ¥353.5m | −¥729.1m | ¥60.6m | −¥78.4m | ¥180.2m | ¥352.3m |
| Diluted earnings per share | 15.38 | 2.65 | 7.46 | 25.90 | 34.10 | -70.62 | 5.88 | -7.61 | 17.49 | 34.18 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥11.40bn | ¥11.34bn | ¥12.32bn | ¥11.58bn | ¥11.20bn | ¥10.79bn | ¥11.19bn | ¥11.46bn | ¥11.72bn | ¥11.70bn |
| Cash and short-term investments | ¥1.73bn | ¥1.88bn | ¥2.07bn | ¥1.93bn | ¥1.66bn | ¥1.35bn | ¥1.41bn | ¥1.14bn | ¥1.30bn | ¥1.52bn |
| Total liabilities | ¥2.01bn | ¥2.15bn | ¥2.92bn | ¥2.71bn | ¥2.65bn | ¥2.41bn | ¥2.44bn | ¥2.45bn | ¥2.46bn | ¥2.60bn |
| Debt | — | — | ¥8.3m | ¥21.4m | ¥4.5m | ¥5.3m | ¥38.2m | — | ¥382,000 | ¥1.7m |
| Shareholders' equity | ¥9.39bn | ¥9.19bn | ¥9.40bn | ¥8.86bn | ¥8.55bn | ¥8.38bn | ¥8.75bn | ¥9.00bn | ¥9.27bn | ¥9.11bn |
| Shares outstanding | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥280.0m | ¥54.8m | ¥302.8m | ¥391.0m | ¥483.8m | ¥337.6m | ¥449.3m | ¥282.0m | ¥461.5m | ¥660.5m |
| Capital spending | −¥305.5m | −¥75.7m | −¥83.4m | −¥78.4m | −¥133.6m | −¥292.5m | −¥114.0m | −¥308.9m | −¥548.3m | −¥270.1m |
| Free cash flow | −¥25.5m | −¥21.0m | ¥219.4m | ¥312.6m | ¥350.3m | ¥45.1m | ¥335.4m | −¥26.9m | −¥86.8m | ¥390.4m |
| Dividends paid | −¥83.9m | −¥83.3m | −¥83.2m | −¥103.6m | −¥51.7m | −¥113.3m | −¥123.5m | −¥123.6m | −¥123.7m | −¥123.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.80bn | ¥1.74bn | ¥2.19bn | ¥1.97bn | ¥1.98bn | ¥1.80bn | ¥2.24bn | ¥2.16bn |
| Gross profit | ¥307.1m | ¥357.1m | ¥441.9m | ¥366.5m | ¥372.1m | ¥240.6m | ¥394.8m | ¥365.2m |
| Operating income | −¥82.7m | ¥47.0m | ¥59.7m | −¥15.8m | −¥39.8m | −¥97.3m | ¥14.8m | −¥13.6m |
| Net income | −¥36.2m | −¥6.8m | ¥118.2m | ¥53.6m | −¥3.9m | ¥31.1m | ¥1.9m | ¥57.8m |
| Diluted earnings per share | -3.46 | -0.64 | 11.28 | 5.12 | -0.37 | 2.97 | 0.19 | 5.53 |
| Total assets | ¥11.15bn | ¥11.40bn | ¥11.77bn | ¥11.75bn | ¥11.53bn | ¥11.34bn | ¥12.00bn | ¥11.91bn |
| Cash and short-term investments | ¥1.82bn | ¥1.73bn | ¥1.57bn | ¥1.57bn | ¥1.94bn | ¥1.88bn | ¥1.69bn | ¥1.89bn |
| Shareholders' equity | ¥9.20bn | ¥9.39bn | ¥9.39bn | ¥9.28bn | ¥9.08bn | ¥9.19bn | ¥9.47bn | ¥9.48bn |
Financial ratios
Data as of 25 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 19.4% | 15.6% | 16.3% | 19.2% | 20.3% | 17.4% | — | — | — | — | — | — | — | — |
| Operating margin | 0.1% | 0.6% | -0.3% | 2.2% | 2.9% | -0.8% | — | — | — | — | — | — | — | — |
| Net margin | 2.0% | 0.3% | 0.8% | 2.8% | 3.7% | -8.1% | — | — | — | — | — | — | — | — |
| Return on equity | 1.7% | 0.3% | 0.8% | 3.0% | 4.1% | -8.7% | — | — | — | — | — | — | — | — |
| Return on assets | 1.4% | 0.2% | 0.6% | 2.3% | 3.2% | -6.8% | — | — | — | — | — | — | — | — |
| Free cash flow yield | 20.0% | 4.4% | 13.2% | 16.1% | 21.3% | 21.8% | — | — | — | — | — | — | — | — |
| Revenue growth | -4.9% | -11.9% | -2.5% | 1.2% | 5.7% | -13.4% | — | — | — | — | — | — | — | — |
| Earnings growth | 479.8% | -64.3% | -71.1% | -23.8% | -148.5% | -1302.9% | — | — | — | — | — | — | — | — |
| Current ratio | 4.87x | 4.75x | 3.34x | 3.30x | 3.19x | 3.38x | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | — | — | — | — | — | — |
| Equity ratio | 82.4% | 81.0% | 76.3% | 76.6% | 76.4% | 77.7% | — | — | — | — | — | — | — | — |
| Interest coverage | — | — | — | — | — | — | — | — | 1008.69x | 428.00x | 34.39x | 56.46x | 54.02x | 35.43x |
| R&D as a share of sales | 1.1% | 1.2% | 1.0% | 1.2% | 1.3% | 1.6% | — | — | — | — | — | — | — | — |
| Buybacks as a share of market value | 0.0% | -0.3% | -0.5% | -0.3% | -0.4% | -0.2% | — | — | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.5% | -2.7% | -3.8% |
| Operating income | -64.7% | — | -31.0% |
| Net income | -15.7% | — | -6.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.4% | 17.6% | 18.1% | 18.0% |
| Operating margin | -1.3% | -0.1% | 0.3% | 1.0% |
| Net margin | 1.2% | 1.5% | 0.3% | 0.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.5 | 102.2 | 34.7 | 12.2 | 7.9 | -3.8 | 41.3 | -45.2 | 15.6 | 12.4 |
| Price to sales | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 12.00 | 8.00 | 8.00 | 10.00 | 5.00 | 11.00 | 12.00 | 12.00 |
- 1.03-for-1 split · 26 Mar 1997
- 1.03-for-1 split · 26 Mar 1996
- 1.05-for-1 split · 28 Mar 1995
- 1.05-for-1 split · 28 Mar 1994
- 1.05-for-1 split · 26 Mar 1993
- 1.1-for-1 split · 26 Mar 1992
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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