N 
2,534
+1.08%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥42.41bn
FY2017FY2026
Net income
¥3.44bn
FY2017FY2026
Free cash flow
¥3.44bn
FY2017FY2026
Shareholders' equity
¥40.26bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥42.41bn | ¥33.27bn | ¥30.80bn | ¥29.46bn | ¥28.12bn | ¥22.05bn | ¥27.49bn | ¥31.84bn | ¥30.69bn | ¥23.28bn |
| Gross profit | ¥12.92bn | ¥7.65bn | ¥9.64bn | ¥7.71bn | ¥6.60bn | ¥5.30bn | ¥6.99bn | ¥8.17bn | ¥8.20bn | ¥6.81bn |
| Research and development | — | ¥764.0m | ¥666.0m | ¥666.0m | ¥593.0m | ¥707.9m | ¥595.8m | ¥476.5m | ¥500.6m | ¥507.9m |
| Operating income | ¥5.44bn | ¥1.12bn | ¥4.17bn | ¥3.10bn | ¥2.87bn | ¥1.36bn | ¥2.48bn | ¥3.85bn | ¥4.02bn | ¥2.87bn |
| Net income | ¥3.44bn | ¥1.31bn | ¥2.74bn | ¥2.22bn | ¥2.31bn | ¥1.25bn | ¥2.12bn | ¥2.86bn | ¥3.20bn | ¥2.23bn |
| Diluted earnings per share | 203.80 | 77.45 | 153.75 | 123.10 | 127.80 | 69.05 | 117.37 | 158.08 | 177.17 | 123.40 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥62.94bn | ¥60.41bn | ¥56.78bn | ¥47.67bn | ¥47.34bn | ¥42.26bn | ¥37.59bn | ¥38.73bn | ¥37.59bn | ¥33.70bn |
| Cash and short-term investments | ¥20.13bn | ¥14.97bn | ¥15.34bn | ¥13.84bn | ¥13.73bn | ¥11.91bn | ¥10.48bn | ¥10.34bn | ¥13.34bn | ¥13.47bn |
| Total liabilities | ¥22.42bn | ¥23.81bn | ¥17.01bn | ¥11.65bn | ¥13.42bn | ¥10.53bn | ¥8.24bn | ¥10.50bn | ¥11.30bn | ¥10.69bn |
| Debt | ¥8.76bn | ¥8.03bn | ¥1.98bn | ¥3.79bn | ¥5.95bn | — | — | — | — | — |
| Shareholders' equity | ¥40.26bn | ¥36.39bn | ¥39.42bn | ¥35.71bn | ¥33.65bn | ¥31.49bn | ¥29.19bn | ¥28.08bn | ¥26.22bn | ¥22.95bn |
| Shares outstanding | 17m | 17m | 18m | 18m | 18m | 18m | 18m | 18m | 18m | 18m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥4.10bn | ¥50.0m | ¥525.0m | ¥1.25bn | ¥2.69bn | ¥2.69bn | ¥3.25bn | ¥1.02bn | ¥889.8m | ¥4.78bn |
| Capital spending | −¥659.0m | −¥809.0m | −¥665.0m | −¥250.0m | −¥383.0m | −¥752.4m | −¥2.59bn | −¥3.58bn | −¥390.4m | −¥463.5m |
| Free cash flow | ¥3.44bn | −¥759.0m | −¥140.0m | ¥996.0m | ¥2.31bn | ¥1.94bn | ¥653.4m | −¥2.56bn | ¥499.5m | ¥4.31bn |
| Dividends paid | −¥858.0m | −¥685.0m | −¥578.0m | −¥722.0m | −¥541.0m | −¥542.2m | −¥542.1m | −¥560.0m | −¥505.6m | −¥508.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.44bn | ¥11.95bn | ¥11.16bn | ¥12.96bn | ¥6.34bn | ¥11.72bn | ¥7.31bn | ¥9.93bn |
| Gross profit | ¥2.06bn | ¥3.37bn | ¥3.55bn | ¥3.87bn | ¥2.12bn | ¥2.51bn | ¥2.24bn | ¥2.23bn |
| Operating income | ¥74.0m | ¥1.26bn | ¥1.78bn | ¥2.06bn | ¥339.0m | ¥615.0m | ¥467.0m | ¥650.0m |
| Net income | ¥300.0m | ¥928.0m | ¥900.0m | ¥1.37bn | ¥243.0m | ¥485.0m | ¥481.0m | ¥687.0m |
| Diluted earnings per share | 17.78 | 54.99 | 53.33 | 81.07 | 14.40 | 28.74 | 26.95 | 38.49 |
| Total assets | ¥65.14bn | ¥62.94bn | ¥61.69bn | ¥60.95bn | ¥62.13bn | ¥60.41bn | ¥59.05bn | ¥59.80bn |
| Cash and short-term investments | ¥18.27bn | ¥20.13bn | ¥16.39bn | ¥14.56bn | ¥14.01bn | ¥14.97bn | ¥12.38bn | ¥16.67bn |
| Debt | ¥2.25bn | ¥8.76bn | ¥1.75bn | ¥7.03bn | ¥1.93bn | ¥8.03bn | ¥1.31bn | ¥4.68bn |
| Shareholders' equity | ¥40.42bn | ¥40.26bn | ¥39.34bn | ¥38.03bn | ¥36.34bn | ¥36.39bn | ¥37.51bn | ¥38.57bn |
Financial ratios
Data as of 19 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 30.5% | 23.0% | 31.3% | 26.2% | 23.5% | 24.1% | — |
| Operating margin | 12.8% | 3.4% | 13.5% | 10.5% | 10.2% | 6.2% | — |
| Net margin | 8.1% | 3.9% | 8.9% | 7.5% | 8.2% | 5.7% | — |
| Return on equity | 8.5% | 3.6% | 7.0% | 6.2% | 6.9% | 4.0% | — |
| Return on assets | 5.5% | 2.2% | 4.8% | 4.7% | 4.9% | 3.0% | — |
| Free cash flow yield | 10.8% | 2.0% | 2.6% | 3.2% | 6.5% | 7.3% | — |
| Revenue growth | 27.5% | 8.0% | 4.6% | 4.8% | 27.6% | -19.8% | — |
| Earnings growth | 163.1% | -52.4% | 23.4% | -3.7% | 85.1% | -41.2% | — |
| Current ratio | 3.08x | 2.54x | 2.90x | 3.07x | 2.53x | 2.90x | — |
| Debt to equity | 0.22x | 0.22x | 0.05x | 0.11x | 0.18x | 0.00x | — |
| Equity ratio | 64.0% | 60.2% | 69.4% | 74.9% | 71.1% | 74.5% | — |
| Interest coverage | 61.11x | 18.38x | 130.16x | 11.35x | 55.13x | 2.33x | — |
| R&D as a share of sales | — | 2.3% | 2.2% | 2.3% | 2.1% | 3.2% | 2.2% |
| Buybacks as a share of market value | 0.0% | 5.5% | 1.2% | 0.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.9% | 14.0% | 6.8% |
| Operating income | 20.6% | 32.0% | 11.4% |
| Net income | 15.6% | 22.5% | 8.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.2% | 27.9% | 26.8% | 26.6% |
| Operating margin | 8.7% | 10.2% | 9.7% | 10.3% |
| Net margin | 6.3% | 7.1% | 7.1% | 7.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.0 | 31.3 | 13.4 | 16.3 | 18.3 | 57.7 | 35.4 | 24.1 | 11.4 | 38.7 |
| Price to sales | 1.1 | 1.2 | 1.2 | 1.2 | 1.5 | 3.3 | 2.7 | 2.2 | 1.2 | 3.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 26 years. Last went ex-dividend on 29 Sept 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 41.00 | 83.00 | 38.00 | 32.00 | 30.00 | 30.00 | 30.00 | 30.00 |
- 1.2-for-1 split · 25 Sept 1992
- 6-for-5 split · 26 Mar 1991
- 6-for-5 split · 27 Mar 1990
- 6-for-5 split · 28 Mar 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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