N 
933
+0.54%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥49.37bn
FY2017FY2026
Net income
¥2.54bn
FY2017FY2026
Free cash flow
¥588.0m
FY2017FY2026
Shareholders' equity
¥37.40bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥49.37bn | ¥49.16bn | ¥44.10bn | ¥39.66bn | ¥38.85bn | ¥37.87bn | ¥35.15bn | ¥31.78bn | ¥35.11bn | ¥32.72bn |
| Gross profit | ¥15.20bn | ¥13.54bn | ¥11.70bn | ¥9.95bn | ¥10.24bn | ¥9.96bn | ¥9.39bn | ¥8.07bn | ¥8.62bn | ¥8.43bn |
| Research and development | — | ¥671.0m | ¥603.0m | ¥576.0m | ¥449.0m | ¥392.0m | ¥379.0m | ¥211.0m | ¥291.0m | ¥271.0m |
| Operating income | ¥3.10bn | ¥2.77bn | ¥1.97bn | ¥1.03bn | ¥2.05bn | ¥2.30bn | ¥2.05bn | ¥1.43bn | ¥2.10bn | ¥1.95bn |
| Net income | ¥2.54bn | ¥2.01bn | ¥1.31bn | ¥1.02bn | ¥1.65bn | ¥2.08bn | ¥1.59bn | ¥1.34bn | ¥1.49bn | ¥1.34bn |
| Diluted earnings per share | 65.81 | 52.13 | 34.09 | 26.59 | 43.05 | 54.46 | 41.59 | 34.69 | 38.89 | 35.00 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥64.44bn | ¥63.73bn | ¥62.23bn | ¥52.13bn | ¥52.08bn | ¥48.70bn | ¥45.68bn | ¥43.97bn | ¥44.88bn | ¥44.98bn |
| Cash and short-term investments | ¥11.48bn | ¥14.04bn | ¥15.55bn | ¥10.32bn | ¥12.44bn | ¥12.49bn | ¥12.62bn | ¥10.35bn | ¥12.36bn | ¥13.07bn |
| Total liabilities | ¥27.03bn | ¥29.16bn | ¥29.14bn | ¥20.52bn | ¥20.03bn | ¥17.25bn | ¥15.38bn | ¥13.55bn | ¥14.59bn | ¥15.88bn |
| Debt | ¥8.00bn | ¥10.28bn | ¥10.72bn | ¥5.76bn | ¥3.82bn | ¥2.50bn | ¥1.80bn | ¥1.72bn | ¥1.80bn | ¥1.99bn |
| Shareholders' equity | ¥37.40bn | ¥34.55bn | ¥33.03bn | ¥31.64bn | ¥32.00bn | ¥31.43bn | ¥30.27bn | ¥30.41bn | ¥30.29bn | ¥29.09bn |
| Shares outstanding | 39m | 39m | 38m | 38m | 38m | 38m | 38m | 39m | 38m | 38m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥2.59bn | ¥2.99bn | ¥4.33bn | −¥1.64bn | ¥2.22bn | ¥2.78bn | ¥3.81bn | −¥218.0m | ¥274.0m | ¥5.06bn |
| Capital spending | −¥2.00bn | −¥2.92bn | −¥2.32bn | −¥2.17bn | −¥1.70bn | −¥2.41bn | −¥1.39bn | −¥1.85bn | −¥558.0m | −¥1.23bn |
| Free cash flow | ¥588.0m | ¥76.0m | ¥2.01bn | −¥3.82bn | ¥527.0m | ¥370.0m | ¥2.42bn | −¥2.07bn | −¥284.0m | ¥3.83bn |
| Dividends paid | −¥1.31bn | −¥1.15bn | −¥1.15bn | −¥1.15bn | −¥1.26bn | −¥1.34bn | −¥1.00bn | −¥496.0m | −¥423.0m | −¥403.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥11.82bn | ¥18.21bn | ¥10.04bn | ¥12.82bn | ¥8.29bn | ¥16.09bn | ¥10.44bn | ¥12.79bn |
| Gross profit | ¥3.40bn | ¥5.46bn | ¥3.19bn | ¥3.74bn | ¥2.81bn | ¥4.15bn | ¥3.17bn | ¥3.61bn |
| Operating income | ¥275.0m | ¥2.00bn | ¥328.0m | ¥823.0m | −¥54.0m | ¥1.22bn | ¥266.0m | ¥817.0m |
| Net income | ¥203.0m | ¥1.55bn | ¥293.0m | ¥755.0m | −¥61.0m | ¥866.0m | ¥263.0m | ¥543.0m |
| Diluted earnings per share | 5.27 | 40.20 | 7.60 | 19.59 | -1.58 | 22.47 | 6.83 | 14.11 |
| Total assets | ¥65.65bn | ¥64.44bn | ¥62.87bn | ¥62.80bn | ¥63.12bn | ¥63.73bn | ¥64.99bn | ¥63.99bn |
| Cash and short-term investments | ¥14.17bn | ¥11.48bn | ¥9.35bn | ¥12.12bn | ¥14.69bn | ¥14.04bn | ¥15.65bn | ¥15.84bn |
| Debt | ¥3.73bn | ¥8.00bn | ¥3.70bn | ¥8.36bn | ¥5.44bn | ¥10.26bn | ¥6.66bn | ¥11.18bn |
| Shareholders' equity | ¥37.02bn | ¥37.40bn | ¥35.61bn | ¥35.50bn | ¥33.83bn | ¥34.55bn | ¥33.34bn | ¥33.39bn |
Financial ratios
Data as of 21 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 30.8% | 27.5% | 26.5% | 25.1% | 26.4% | 26.3% | — |
| Operating margin | 6.3% | 5.6% | 4.5% | 2.6% | 5.3% | 6.1% | — |
| Net margin | 5.1% | 4.1% | 3.0% | 2.6% | 4.2% | 5.5% | — |
| Return on equity | 6.8% | 5.8% | 4.0% | 3.2% | 5.1% | 6.6% | — |
| Return on assets | 3.9% | 3.2% | 2.1% | 2.0% | 3.2% | 4.3% | — |
| Free cash flow yield | 11.9% | 15.3% | 17.2% | 1.4% | 10.2% | 13.5% | — |
| Revenue growth | 0.4% | 11.5% | 11.2% | 2.1% | 2.6% | 7.7% | — |
| Earnings growth | 26.2% | 53.1% | 28.8% | -38.2% | -20.8% | 31.1% | — |
| Current ratio | 1.89x | 1.87x | 1.89x | 2.20x | 2.16x | 2.25x | — |
| Debt to equity | 0.21x | 0.30x | 0.32x | 0.18x | 0.12x | 0.08x | — |
| Equity ratio | 58.0% | 54.2% | 53.1% | 60.7% | 61.5% | 64.5% | — |
| Interest coverage | 23.31x | 27.96x | 16.55x | 13.36x | 41.06x | 62.22x | — |
| R&D as a share of sales | — | 1.4% | 1.4% | 1.5% | 1.2% | 1.0% | 1.1% |
| Buybacks as a share of market value | 0.0% | -0.1% | -0.4% | -0.1% | -0.1% | -0.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.6% | 5.4% | 3.8% |
| Operating income | 44.4% | 6.1% | 6.6% |
| Net income | 35.5% | 4.0% | 3.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.2% | 27.6% | 27.3% | 26.5% |
| Operating margin | 6.0% | 4.9% | 5.1% | 5.2% |
| Net margin | 4.6% | 3.8% | 4.1% | 4.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.1 | 15.2 | 21.4 | 26.1 | 14.3 | 11.4 | 17.3 | 23.9 | 12.0 | 13.6 |
| Price to sales | 0.7 | 0.6 | 0.6 | 0.7 | 0.6 | 0.6 | 0.8 | 1.0 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 37 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 51.00 | 30.00 | 30.00 | 30.00 | 33.00 | 25.00 | 16.00 | 13.00 |
- 5-for-1 split · 27 Sept 2019
- 5-to-1 reverse split · 28 Sept 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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