C 
165
-6.78%
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
¥14.94bn
FY2016FY2025
Net income
−¥150.2m
FY2016FY2025
Free cash flow
−¥294.3m
FY2016FY2025
Shareholders' equity
¥1.83bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥14.94bn | ¥16.71bn | ¥17.79bn | ¥16.34bn | ¥14.18bn | ¥12.25bn | ¥11.59bn | ¥10.09bn | ¥9.10bn | ¥7.42bn |
| Gross profit | ¥3.23bn | ¥3.66bn | ¥4.00bn | ¥3.63bn | ¥3.25bn | ¥2.57bn | ¥2.38bn | ¥2.10bn | ¥2.07bn | ¥1.77bn |
| Operating income | −¥9.1m | ¥428.9m | ¥614.0m | ¥361.8m | ¥481.7m | ¥2.0m | ¥265.3m | ¥460.9m | ¥537.7m | ¥417.4m |
| Net income | −¥150.2m | ¥249.9m | ¥378.8m | ¥195.6m | ¥68.9m | −¥39.3m | ¥157.4m | ¥294.9m | ¥361.1m | ¥263.7m |
| Diluted earnings per share | -17.72 | 29.37 | 44.46 | 23.00 | 8.10 | -4.63 | 18.51 | 35.60 | 42.36 | 31.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.29bn | ¥4.41bn | ¥5.15bn | ¥4.96bn | ¥4.85bn | ¥3.50bn | ¥3.13bn | ¥2.52bn | ¥2.29bn | ¥1.98bn |
| Cash and short-term investments | ¥1.86bn | ¥2.15bn | ¥2.75bn | ¥2.23bn | ¥1.61bn | ¥1.59bn | ¥1.21bn | ¥1.13bn | ¥982.9m | ¥941.3m |
| Total liabilities | ¥2.45bn | ¥2.40bn | ¥3.11bn | ¥3.32bn | ¥3.45bn | ¥2.23bn | ¥1.78bn | ¥1.15bn | ¥1.16bn | ¥954.0m |
| Debt | ¥914.9m | ¥800.0m | ¥1.00bn | ¥1.21bn | ¥1.22bn | ¥932.4m | ¥720.7m | ¥33.4m | ¥53.4m | ¥123.4m |
| Shareholders' equity | ¥1.83bn | ¥2.00bn | ¥1.93bn | ¥1.55bn | ¥1.33bn | ¥1.24bn | ¥1.32bn | ¥1.38bn | ¥1.12bn | ¥1.02bn |
| Shares outstanding | 8m | 9m | 9m | 9m | 9m | 9m | 9m | 8m | 9m | 8m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥15.3m | −¥91.2m | ¥788.7m | ¥938.0m | −¥206.1m | ¥263.5m | −¥20.0m | ¥234.1m | ¥457.1m | ¥229.5m |
| Capital spending | −¥279.1m | −¥19.5m | −¥18.6m | −¥236.4m | −¥37.9m | −¥46.9m | −¥6.0m | −¥13.3m | −¥23.2m | −¥6.1m |
| Free cash flow | −¥294.3m | −¥110.7m | ¥770.0m | ¥701.7m | −¥244.0m | ¥216.6m | −¥26.0m | ¥220.8m | ¥434.0m | ¥223.4m |
| Dividends paid | −¥52.8m | — | — | −¥7,000 | −¥53,000 | −¥31.8m | −¥53.1m | −¥53.2m | −¥53.5m | −¥53.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.41bn | ¥3.33bn | ¥3.34bn | ¥3.55bn | ¥3.76bn | ¥3.70bn | ¥3.92bn | ¥4.11bn |
| Gross profit | ¥750.6m | ¥707.6m | ¥685.1m | ¥768.4m | ¥849.8m | ¥773.1m | ¥842.6m | ¥826.3m |
| Operating income | −¥77.6m | −¥20.4m | −¥34.2m | −¥1.5m | ¥30.0m | −¥68.1m | ¥30.0m | ¥96.7m |
| Net income | −¥84.4m | −¥22.8m | ¥40.3m | −¥88.5m | −¥11.4m | −¥51.4m | ¥1.0m | ¥79.0m |
| Diluted earnings per share | -10.00 | -2.70 | 4.76 | -10.45 | -1.35 | -6.07 | 0.12 | 9.29 |
| Cash from operations | — | — | — | −¥15.0m | — | — | — | — |
| Capital spending | — | — | — | −¥279.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥294.0m | — | — | — | — |
| Total assets | ¥3.88bn | ¥3.94bn | ¥4.65bn | ¥4.29bn | ¥4.50bn | ¥4.41bn | ¥4.70bn | ¥4.41bn |
| Cash and short-term investments | ¥1.53bn | ¥1.58bn | ¥2.17bn | ¥1.86bn | ¥1.92bn | ¥1.97bn | ¥2.46bn | ¥2.15bn |
| Debt | ¥443.0m | ¥593.4m | ¥743.0m | ¥914.9m | ¥1.01bn | ¥918.8m | ¥800.0m | ¥800.0m |
| Shareholders' equity | ¥1.78bn | ¥1.86bn | ¥1.88bn | ¥1.83bn | ¥1.91bn | ¥1.91bn | ¥1.96bn | ¥2.00bn |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.7% | 21.9% | 22.5% | 22.2% | 22.9% | 21.0% |
| Operating margin | -0.3% | 2.5% | 3.5% | 2.3% | 2.3% | 0.0% |
| Net margin | -1.0% | 1.5% | 2.1% | 1.2% | 0.5% | -0.3% |
| Return on equity | -8.2% | 12.5% | 19.7% | 12.6% | 5.2% | -3.2% |
| Return on assets | -3.5% | 5.7% | 7.4% | 3.9% | 1.4% | -1.1% |
| Free cash flow yield | 16.7% | -4.5% | 50.9% | 74.2% | -10.6% | 19.6% |
| Revenue growth | -10.6% | -6.1% | 8.9% | 15.2% | 15.8% | 5.6% |
| Earnings growth | -160.1% | -34.0% | 93.6% | 183.9% | -275.2% | -125.0% |
| Current ratio | 1.69x | 1.71x | 1.53x | 1.35x | 1.28x | 1.38x |
| Debt to equity | 0.50x | 0.40x | 0.52x | 0.78x | 0.92x | 0.75x |
| Equity ratio | 42.8% | 45.5% | 37.4% | 31.2% | 27.4% | 35.5% |
| Interest coverage | -4.71x | 97.50x | 118.43x | 65.21x | 83.10x | 1.51x |
| Buybacks as a share of market value | 0.4% | 0.2% | -0.2% | 0.0% | 0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.9% | 4.0% | 9.9% |
| Net income | — | 30.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.8% | 22.1% | 22.1% | 22.1% |
| Operating margin | 1.3% | 2.1% | 2.0% | 2.8% |
| Net margin | 0.3% | 1.0% | 0.8% | 1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -13.6 | 11.3 | 9.1 | 12.5 | 53.7 | -75.7 | 26.8 | 17.5 | 72.7 | 46.0 |
| Price to sales | 0.1 | 0.2 | 0.2 | 0.1 | 0.3 | 0.2 | 0.4 | 0.5 | 2.9 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 29 Sept 2025.
| FY2025 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|
| Paid in the year | 12.50 | 3.75 | 2.50 | 6.25 | 10.00 |
- 2-for-1 split · 27 Dec 2017
- 2-for-1 split · 29 Mar 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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