L 
102
0.00%
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
¥5.64bn
FY2016FY2025
Net income
−¥22.3m
FY2016FY2025
Free cash flow
−¥652.7m
FY2016FY2025
Shareholders' equity
¥4.17bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.64bn | ¥6.32bn | ¥5.65bn | ¥4.76bn | ¥4.18bn | ¥4.08bn | ¥6.19bn | ¥6.79bn | ¥6.35bn | ¥5.37bn |
| Gross profit | ¥4.21bn | ¥4.74bn | ¥4.70bn | ¥4.00bn | ¥3.44bn | ¥3.66bn | ¥5.68bn | ¥6.11bn | ¥5.76bn | ¥4.86bn |
| Operating income | −¥368.8m | ¥109.4m | ¥485.3m | ¥284.3m | −¥975.0m | −¥1.13bn | ¥91.6m | ¥122.3m | ¥222.1m | ¥515.5m |
| Net income | −¥22.3m | ¥197.3m | ¥716.2m | ¥537.5m | −¥943.9m | −¥1.09bn | ¥1.25bn | ¥285.2m | ¥306.9m | ¥28.4m |
| Diluted earnings per share | -0.81 | 7.17 | 26.12 | 19.60 | -34.43 | -39.75 | 44.42 | 10.13 | 10.91 | 1.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.73bn | ¥4.95bn | ¥4.82bn | ¥4.47bn | ¥3.87bn | ¥4.22bn | ¥6.24bn | ¥4.32bn | ¥4.35bn | ¥3.98bn |
| Cash and short-term investments | ¥3.64bn | ¥3.93bn | ¥3.65bn | ¥3.56bn | ¥2.71bn | ¥3.03bn | ¥5.23bn | ¥3.24bn | ¥3.08bn | ¥2.73bn |
| Total liabilities | ¥523.6m | ¥741.3m | ¥839.6m | ¥1.11bn | ¥775.3m | ¥576.1m | ¥1.30bn | ¥615.3m | ¥906.9m | ¥858.2m |
| Debt | — | ¥19.6m | ¥29.4m | ¥34.3m | ¥39.2m | ¥24.5m | — | — | — | — |
| Shareholders' equity | ¥4.17bn | ¥4.19bn | ¥3.98bn | ¥3.36bn | ¥3.10bn | ¥3.64bn | ¥4.94bn | ¥3.69bn | ¥3.42bn | ¥3.11bn |
| Shares outstanding | 28m | 28m | 27m | 27m | 27m | 27m | 28m | 28m | 28m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥652.5m | ¥264.5m | ¥3.3m | ¥731.0m | −¥361.0m | −¥1.99bn | ¥255.9m | ¥135.7m | ¥450.0m | ¥879.2m |
| Capital spending | −¥266,000 | — | −¥9.1m | — | — | −¥8.2m | −¥16.2m | −¥15.9m | −¥101.3m | −¥81.1m |
| Free cash flow | −¥652.7m | ¥264.5m | −¥5.9m | ¥731.0m | −¥361.0m | −¥2.00bn | ¥239.6m | ¥119.8m | ¥348.7m | ¥798.1m |
| Dividends paid | — | — | — | — | — | −¥24.5m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥983.5m | ¥981.6m | ¥1.41bn | ¥1.30bn | ¥1.36bn | ¥1.58bn | ¥1.58bn | ¥1.50bn |
| Gross profit | ¥777.0m | ¥816.3m | ¥973.6m | ¥1.05bn | ¥1.08bn | ¥1.11bn | ¥1.13bn | ¥1.15bn |
| Operating income | −¥119.8m | −¥51.4m | −¥49.6m | −¥108.2m | −¥111.0m | −¥100.0m | −¥118.0m | ¥2.0m |
| Net income | −¥125.0m | −¥53.3m | ¥317.5m | −¥127.8m | −¥122.5m | −¥89.5m | −¥90.0m | ¥10.0m |
| Diluted earnings per share | -4.54 | -1.93 | 11.53 | -4.64 | -4.45 | -3.25 | -3.27 | 0.36 |
| Total assets | ¥4.56bn | ¥4.59bn | ¥4.73bn | ¥4.47bn | ¥4.68bn | ¥4.83bn | ¥4.95bn | ¥5.08bn |
| Cash and short-term investments | ¥3.52bn | ¥3.47bn | ¥3.64bn | ¥3.01bn | ¥3.29bn | ¥3.87bn | ¥3.93bn | ¥3.87bn |
| Debt | — | — | — | — | ¥9.8m | — | ¥9.8m | — |
| Shareholders' equity | ¥4.00bn | ¥4.12bn | ¥4.17bn | ¥3.85bn | ¥3.98bn | ¥4.10bn | ¥4.19bn | ¥4.27bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 74.7% | 75.0% | 83.2% | 84.1% | 82.2% | 89.6% | — | — | — |
| Operating margin | -6.5% | 1.7% | 13.1% | 8.9% | -22.7% | -27.2% | — | — | — |
| Net margin | -0.4% | 3.1% | 12.7% | 11.3% | -22.6% | -26.7% | — | — | — |
| Return on equity | -0.5% | 4.7% | 18.0% | 16.0% | -30.5% | -29.9% | — | — | — |
| Return on assets | -0.5% | 4.0% | 14.9% | 12.0% | -24.4% | -25.8% | — | — | — |
| Free cash flow yield | -21.5% | — | 0.4% | — | — | -65.8% | 8.8% | 4.9% | 17.8% |
| Revenue growth | -10.8% | 11.8% | 18.8% | 13.8% | 2.5% | -34.1% | — | — | — |
| Earnings growth | -111.3% | -72.4% | 33.2% | -156.9% | -13.4% | -187.2% | — | — | — |
| Current ratio | 9.04x | 6.61x | 5.67x | 3.79x | 4.83x | 7.45x | — | — | — |
| Debt to equity | — | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | — | — |
| Equity ratio | 88.1% | 84.6% | 82.6% | 75.1% | 80.0% | 86.3% | — | — | — |
| Interest coverage | -2974.20x | 588.16x | 3415.73x | 1403.43x | -3909.58x | -5860.02x | — | — | — |
| Buybacks as a share of market value | -0.1% | -0.3% | 0.0% | -0.0% | -0.0% | 2.6% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.8% | 6.7% | 1.1% |
| Operating income | — | -20.1% | — |
| Net income | — | -54.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.8% | 78.9% | 80.8% | 85.7% |
| Operating margin | -2.2% | 2.3% | -5.2% | -1.1% |
| Net margin | 1.5% | 6.4% | -2.0% | 2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -147.1 | 19.9 | 9.7 | 14.2 | -5.2 | -6.2 | 6.8 | 24.3 | 48.8 | 437.5 |
| Price to sales | 0.6 | 0.6 | 1.2 | 1.6 | 1.2 | 1.6 | 1.4 | 1.0 | 2.4 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 26 Dec 2013
- 2-for-1 split · 26 Jun 2013
- 2-for-1 split · 27 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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