V 
985
+4.01%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥6.88bn
FY2017FY2026
Net income
−¥81.1m
FY2017FY2026
Free cash flow
¥393.3m
FY2017FY2026
Shareholders' equity
¥1.66bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.88bn | ¥6.49bn | ¥6.69bn | ¥6.80bn | ¥6.22bn | ¥5.63bn | ¥5.95bn | ¥6.18bn | ¥5.51bn | ¥4.45bn |
| Gross profit | ¥1.73bn | ¥1.61bn | ¥1.60bn | ¥1.75bn | ¥1.63bn | ¥1.26bn | ¥1.19bn | ¥1.39bn | ¥1.20bn | ¥1.04bn |
| Research and development | — | — | — | — | — | — | — | — | ¥2.3m | ¥7.2m |
| Operating income | ¥394.5m | ¥279.2m | ¥371.1m | ¥576.3m | ¥520.0m | ¥164.8m | −¥409.8m | ¥75.0m | ¥47.3m | ¥226.7m |
| Net income | −¥81.1m | ¥111.0m | ¥202.8m | ¥635.9m | ¥364.1m | ¥110.6m | −¥519.3m | ¥20.7m | ¥7.9m | ¥121.7m |
| Diluted earnings per share | -28.40 | 38.86 | 71.23 | 217.39 | 123.31 | 38.01 | -180.31 | 7.20 | 2.68 | 41.43 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.77bn | ¥3.80bn | ¥3.52bn | ¥3.45bn | ¥2.85bn | ¥2.58bn | ¥2.34bn | ¥2.77bn | ¥2.30bn | ¥2.80bn |
| Cash and short-term investments | ¥1.37bn | ¥1.37bn | ¥1.16bn | ¥1.34bn | ¥292.6m | ¥447.6m | ¥208.7m | ¥315.2m | ¥363.9m | ¥1.07bn |
| Total liabilities | ¥2.11bn | ¥2.03bn | ¥1.77bn | ¥1.83bn | ¥1.71bn | ¥2.03bn | ¥1.90bn | ¥1.78bn | ¥1.31bn | ¥1.81bn |
| Debt | ¥904.6m | ¥1.04bn | ¥764.5m | ¥777.7m | ¥653.0m | ¥1.03bn | ¥1.13bn | ¥854.3m | ¥540.0m | ¥948.3m |
| Shareholders' equity | ¥1.66bn | ¥1.77bn | ¥1.75bn | ¥1.62bn | ¥1.15bn | ¥552.9m | ¥439.6m | ¥988.1m | ¥983.3m | ¥975.2m |
| Shares outstanding | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥410.4m | ¥229.8m | ¥399.9m | ¥446.3m | ¥274.9m | ¥495.1m | −¥167.1m | ¥145.4m | −¥88.3m | ¥598.2m |
| Capital spending | −¥17.2m | −¥38.2m | −¥6.7m | −¥19.9m | −¥25.5m | −¥15.0m | −¥44.8m | −¥32.5m | −¥46.2m | −¥6.6m |
| Free cash flow | ¥393.3m | ¥191.7m | ¥393.3m | ¥426.4m | ¥249.4m | ¥480.2m | −¥211.8m | ¥112.9m | −¥134.5m | ¥591.6m |
| Dividends paid | −¥42.1m | −¥43.0m | −¥43.8m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.73bn | ¥1.87bn | ¥1.68bn | ¥1.71bn | ¥1.62bn | ¥1.69bn | ¥1.67bn | ¥1.63bn |
| Gross profit | ¥493.2m | ¥555.0m | ¥379.0m | ¥415.2m | ¥377.1m | ¥475.5m | ¥413.8m | ¥415.7m |
| Operating income | ¥135.7m | ¥219.2m | ¥73.6m | ¥118.1m | −¥16.4m | ¥134.1m | ¥103.5m | ¥123.9m |
| Net income | ¥81.2m | −¥226.2m | ¥44.9m | ¥101.3m | −¥1.1m | ¥50.6m | ¥61.9m | ¥84.9m |
| Diluted earnings per share | 28.45 | -79.22 | 15.73 | 35.46 | -0.38 | 17.70 | 21.74 | 29.84 |
| Total assets | ¥3.56bn | ¥3.77bn | ¥3.91bn | ¥3.81bn | ¥3.68bn | ¥3.80bn | ¥3.77bn | ¥3.58bn |
| Cash and short-term investments | ¥1.59bn | ¥1.37bn | ¥1.46bn | ¥1.43bn | ¥1.18bn | ¥1.37bn | ¥1.33bn | ¥1.22bn |
| Debt | ¥620.2m | ¥904.6m | ¥632.7m | ¥971.0m | ¥632.7m | ¥1.04bn | ¥582.7m | ¥1.05bn |
| Shareholders' equity | ¥1.70bn | ¥1.66bn | ¥1.89bn | ¥1.82bn | ¥1.72bn | ¥1.77bn | ¥1.72bn | ¥1.65bn |
Financial ratios
Data as of 25 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2018 | FY2017 | FY2016 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 25.1% | 24.9% | 23.9% | 25.8% | 26.1% | 22.3% | — | — | — | — |
| Operating margin | 0.9% | 3.2% | 5.2% | 12.2% | 8.4% | 2.9% | — | — | — | — |
| Net margin | -1.2% | 1.7% | 3.0% | 9.4% | 5.9% | 2.0% | — | — | — | — |
| Return on equity | -4.9% | 6.3% | 11.6% | 39.2% | 31.7% | 20.0% | — | — | — | — |
| Return on assets | -2.1% | 2.9% | 5.8% | 18.4% | 12.8% | 4.3% | — | — | — | — |
| Free cash flow yield | 14.1% | 8.9% | 13.5% | 15.0% | 9.6% | 16.5% | — | — | — | — |
| Revenue growth | 6.0% | -3.0% | -1.6% | 9.2% | 10.5% | -5.3% | — | — | — | — |
| Earnings growth | -173.1% | -45.3% | -68.1% | 74.6% | 229.2% | -121.3% | — | — | — | — |
| Current ratio | 1.58x | 1.67x | 1.67x | 1.85x | 1.25x | 1.12x | — | — | — | — |
| Debt to equity | 0.54x | 0.59x | 0.44x | 0.48x | 0.57x | 1.85x | — | — | — | — |
| Equity ratio | 44.0% | 46.7% | 49.7% | 47.0% | 40.2% | 21.4% | — | — | — | — |
| Interest coverage | 4.97x | 18.78x | 67.98x | 244.83x | 90.19x | 24.39x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.2% | 0.9% | 0.1% |
| Buybacks as a share of market value | 0.0% | -0.3% | 2.7% | 0.9% | -1.5% | -1.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.4% | 4.1% | 5.9% |
| Operating income | -11.9% | 19.1% | 4.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.0% | 24.9% | 24.7% | 23.8% |
| Operating margin | 5.0% | 6.0% | 6.0% | 3.9% |
| Net margin | 0.2% | 3.2% | 3.5% | 1.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -33.7 | 25.9 | 11.4 | 5.1 | 8.5 | 35.0 | -3.1 | 100.0 | 223.8 | 20.1 |
| Price to sales | 0.4 | 0.4 | 0.3 | 0.5 | 0.5 | 0.7 | 0.3 | 0.3 | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Paid in the year | 30.00 | 15.00 | 15.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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