A 
651
+3.99%
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
¥1.52bn
FY2019FY2026
Net income
−¥271.8m
FY2019FY2026
Free cash flow
−¥222.3m
FY2019FY2026
Shareholders' equity
¥3.83bn
FY2019FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.52bn | ¥1.67bn | ¥1.58bn | ¥1.76bn | ¥2.41bn | ¥1.79bn | ¥1.40bn | ¥1.14bn |
| Gross profit | ¥614.2m | ¥621.6m | ¥533.7m | ¥566.2m | ¥1.09bn | ¥837.2m | ¥650.4m | ¥558.0m |
| Research and development | — | ¥18.0m | — | ¥12.0m | ¥27.7m | ¥28.6m | ¥13.8m | ¥31.4m |
| Operating income | −¥189.6m | −¥125.6m | −¥224.8m | −¥192.1m | ¥400.2m | ¥226.6m | ¥112.2m | ¥66.0m |
| Net income | −¥271.8m | −¥182.3m | −¥389.7m | −¥170.1m | ¥322.5m | ¥173.9m | ¥69.0m | ¥71.0m |
| Diluted earnings per share | -33.88 | -23.38 | -54.79 | -23.92 | 45.72 | 21.67 | 8.60 | 8.85 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.87bn | ¥2.78bn | ¥2.66bn | ¥2.72bn | ¥2.52bn | ¥1.48bn | ¥1.06bn | ¥742.9m |
| Cash and short-term investments | ¥3.10bn | ¥932.3m | ¥467.3m | ¥251.7m | ¥936.1m | ¥349.3m | ¥247.9m | ¥180.8m |
| Total liabilities | ¥1.04bn | ¥1.05bn | ¥1.12bn | ¥789.6m | ¥451.1m | ¥1.01bn | ¥766.5m | ¥514.5m |
| Debt | ¥700.0m | ¥721.7m | ¥756.7m | ¥460.0m | −¥53.6m | ¥498.2m | ¥481.5m | ¥362.0m |
| Shareholders' equity | ¥3.83bn | ¥1.73bn | ¥1.54bn | ¥1.93bn | ¥2.07bn | ¥472.9m | ¥296.7m | ¥228.4m |
| Shares outstanding | 8m | 8m | 7m | 7m | 7m | 8m | 8m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥199.4m | ¥184.4m | −¥74.1m | −¥687.5m | ¥300.7m | ¥379.7m | ¥10.8m | ¥16.4m |
| Capital spending | −¥22.8m | −¥24.8m | −¥25.4m | −¥375.2m | −¥395.4m | −¥303.6m | −¥62.7m | −¥29.4m |
| Free cash flow | −¥222.3m | ¥159.5m | −¥99.6m | −¥1.06bn | −¥94.7m | ¥76.2m | −¥51.9m | −¥13.0m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥332.0m | ¥423.8m | ¥371.9m | ¥389.1m | ¥361.4m | ¥429.8m | ¥484.1m | ¥391.0m |
| Gross profit | ¥94.4m | ¥192.9m | ¥177.3m | ¥149.6m | ¥112.0m | ¥159.3m | ¥212.6m | ¥137.0m |
| Operating income | −¥148.2m | −¥11.7m | ¥8.6m | −¥38.3m | −¥79.0m | −¥30.7m | ¥28.2m | −¥44.0m |
| Net income | −¥258.2m | −¥2.2m | −¥1.7m | −¥9.7m | −¥115.5m | −¥43.7m | ¥36.0m | −¥59.0m |
| Diluted earnings per share | -32.18 | -0.28 | -0.21 | -1.24 | -14.81 | -5.60 | 4.62 | -8.29 |
| Cash from operations | — | — | — | — | ¥184.0m | — | — | — |
| Capital spending | — | — | — | — | −¥24.0m | — | — | — |
| Free cash flow | — | — | — | — | ¥160.0m | — | — | — |
| Total assets | ¥4.87bn | ¥2.87bn | ¥2.73bn | ¥2.75bn | ¥2.78bn | ¥2.89bn | ¥2.84bn | ¥2.61bn |
| Cash and short-term investments | ¥3.10bn | ¥1.08bn | ¥769.2m | ¥838.6m | ¥932.3m | ¥984.2m | ¥680.7m | ¥535.0m |
| Debt | ¥670.0m | ¥671.7m | ¥711.7m | ¥671.7m | ¥721.7m | ¥671.7m | ¥730.0m | ¥686.7m |
| Shareholders' equity | ¥3.83bn | ¥1.90bn | ¥1.71bn | ¥1.69bn | ¥1.73bn | ¥1.86bn | ¥1.78bn | ¥1.51bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.8% | -3.3% | — |
| Operating income | -0.4% | — | — |
| Net income | 16.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 38.8% | 35.8% | 39.7% | — |
| Operating margin | -9.9% | -11.2% | -1.0% | — |
| Net margin | -14.3% | -15.5% | -4.8% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Price to earnings | -18.3 | -16.4 | -8.9 | -29.0 | 28.1 | 138.4 |
| Price to sales | 3.3 | 1.8 | 2.2 | 2.8 | 3.8 | 13.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 4-for-1 split · 25 Nov 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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