C 
600
+1.87%
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
¥2.86bn
FY2016FY2025
Net income
−¥404.7m
FY2016FY2025
Free cash flow
−¥425.7m
FY2016FY2025
Shareholders' equity
¥1.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.86bn | ¥3.28bn | ¥2.67bn | ¥1.50bn | ¥1.04bn | ¥1.45bn | ¥2.97bn | ¥2.50bn | ¥2.07bn | ¥1.23bn |
| Operating income | −¥374.1m | ¥93.4m | ¥290.4m | ¥173.1m | −¥339.9m | −¥616.8m | ¥224.2m | ¥132.7m | ¥266.6m | ¥56.6m |
| Net income | −¥404.7m | ¥2.8m | ¥267.4m | ¥161.9m | −¥422.7m | −¥599.6m | ¥139.7m | ¥71.1m | ¥171.3m | ¥51.9m |
| Diluted earnings per share | -145.15 | 1.00 | 96.20 | 60.15 | -173.01 | -266.92 | 60.31 | 31.10 | 81.06 | 18.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.62bn | ¥3.80bn | ¥3.51bn | ¥2.64bn | ¥2.19bn | ¥1.83bn | ¥2.04bn | ¥1.61bn | ¥1.47bn | ¥451.9m |
| Cash and short-term investments | ¥1.86bn | ¥2.24bn | ¥2.12bn | ¥2.17bn | ¥1.95bn | ¥1.31bn | ¥1.39bn | ¥1.05bn | ¥1.13bn | ¥155.1m |
| Total liabilities | ¥2.52bn | ¥2.31bn | ¥1.98bn | ¥1.59bn | ¥1.43bn | ¥1.06bn | ¥686.2m | ¥461.5m | ¥517.9m | ¥308.5m |
| Debt | ¥2.04bn | ¥1.76bn | ¥1.44bn | ¥1.18bn | ¥1.15bn | ¥700.0m | — | — | ¥50.0m | ¥64.4m |
| Shareholders' equity | ¥1.10bn | ¥1.49bn | ¥1.53bn | ¥1.06bn | ¥759.5m | ¥774.3m | ¥1.35bn | ¥1.15bn | ¥947.4m | ¥143.4m |
| Shares outstanding | 3m | 3m | 3m | 3m | 2m | 2m | 2m | 2m | 2m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥389.1m | ¥255.0m | ¥28.2m | ¥295.7m | −¥219.1m | −¥785.9m | ¥343.3m | ¥1.3m | ¥402.6m | ¥5.0m |
| Capital spending | −¥36.6m | −¥253.8m | −¥44.6m | −¥1.8m | −¥6.9m | −¥4.4m | −¥17.3m | −¥57.6m | −¥12.3m | −¥9.6m |
| Free cash flow | −¥425.7m | ¥1.2m | −¥16.4m | ¥293.8m | −¥225.9m | −¥790.4m | ¥326.0m | −¥56.3m | ¥390.3m | −¥4.6m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥659.5m | ¥719.7m | ¥694.7m | ¥735.0m | ¥653.5m | ¥699.1m | ¥773.0m | ¥708.1m |
| Operating income | −¥142.7m | −¥53.9m | −¥34.0m | −¥87.6m | −¥97.1m | −¥105.4m | −¥84.0m | −¥25.3m |
| Net income | −¥150.1m | −¥71.5m | −¥24.3m | −¥78.9m | −¥88.6m | −¥130.1m | −¥107.0m | −¥52.0m |
| Diluted earnings per share | -53.83 | -25.64 | -8.70 | -28.31 | -31.78 | -46.67 | -38.39 | -18.66 |
| Total assets | ¥3.13bn | ¥3.32bn | ¥3.41bn | ¥3.62bn | ¥3.27bn | ¥3.42bn | ¥3.53bn | ¥3.80bn |
| Cash and short-term investments | ¥1.20bn | ¥1.65bn | ¥1.57bn | ¥1.86bn | ¥1.79bn | ¥2.06bn | ¥1.91bn | ¥2.24bn |
| Debt | ¥712.4m | ¥1.91bn | ¥533.9m | ¥2.03bn | ¥627.1m | ¥1.61bn | ¥511.0m | ¥516.7m |
| Shareholders' equity | ¥817.5m | ¥961.6m | ¥1.03bn | ¥1.10bn | ¥1.18bn | ¥1.26bn | ¥1.39bn | ¥1.49bn |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -13.1% | 2.9% | 10.9% | 11.5% | -32.8% | -42.7% |
| Net margin | -14.1% | 0.1% | 10.0% | 10.8% | -40.8% | -41.5% |
| Return on equity | -36.8% | 0.2% | 17.5% | 15.3% | -55.7% | -77.4% |
| Return on assets | -11.2% | 0.1% | 7.6% | 6.1% | -19.3% | -32.7% |
| Free cash flow yield | -19.7% | 28.4% | 4.1% | 17.2% | -13.5% | -54.1% |
| Revenue growth | -12.7% | 23.0% | 77.4% | 45.1% | -28.4% | -51.4% |
| Earnings growth | -14667.6% | -99.0% | 65.2% | -138.3% | -29.5% | -529.1% |
| Current ratio | 2.43x | 2.80x | 2.84x | 2.41x | 2.30x | 1.88x |
| Debt to equity | 1.85x | 1.17x | 0.94x | 1.11x | 1.51x | 0.90x |
| Equity ratio | 30.4% | 39.3% | 43.5% | 40.0% | 34.6% | 42.2% |
| Interest coverage | -13.76x | 4.19x | 17.41x | 12.79x | -34.61x | -428.63x |
| Buybacks as a share of market value | 0.0% | -0.3% | -3.3% | -10.2% | -8.8% | 3.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 24.0% | 14.6% | 15.2% |
| Operating income | — | -9.5% | — |
| Net income | — | -7.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.6% | 1.8% | -6.1% | -0.3% |
| Net margin | -6.5% | 0.3% | -7.8% | -2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.1 | — | 10.6 | 19.9 | -6.2 | -3.7 | 52.2 | 47.8 | 60.5 |
| Price to sales | 0.7 | 0.7 | 1.1 | 2.1 | 2.5 | 1.5 | 2.5 | 1.4 | 5.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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