M 
420
+3.19%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥11.14bn
FY2016FY2025
Net income
¥91.2m
FY2016FY2025
Free cash flow
¥118.1m
FY2016FY2025
Shareholders' equity
¥1.31bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥11.14bn | ¥10.61bn | ¥8.37bn | ¥6.35bn | ¥4.91bn | ¥4.16bn | ¥3.60bn | ¥3.03bn | ¥2.27bn | ¥1.71bn |
| Gross profit | ¥2.77bn | ¥2.73bn | ¥2.18bn | ¥1.59bn | ¥1.25bn | ¥870.4m | ¥737.4m | ¥653.4m | ¥442.1m | ¥324.6m |
| Operating income | ¥284.2m | ¥573.4m | ¥297.6m | ¥112.5m | ¥232.8m | ¥77.2m | ¥128.9m | ¥157.0m | ¥125.3m | ¥62.8m |
| Net income | ¥91.2m | ¥66.5m | ¥192.7m | ¥39.3m | ¥142.8m | ¥41.8m | ¥91.4m | ¥101.1m | ¥85.8m | ¥44.1m |
| Diluted earnings per share | 17.48 | 12.40 | 36.02 | 7.52 | 26.74 | 7.82 | 17.33 | 19.00 | 18.23 | 8.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.11bn | ¥3.32bn | ¥2.76bn | ¥2.19bn | ¥1.82bn | ¥1.55bn | ¥1.38bn | ¥1.25bn | ¥683.1m | ¥531.1m |
| Cash and short-term investments | ¥1.45bn | ¥1.57bn | ¥881.9m | ¥824.7m | ¥1.13bn | ¥912.3m | ¥892.1m | ¥830.9m | ¥398.3m | — |
| Total liabilities | ¥1.80bn | ¥2.02bn | ¥1.55bn | ¥1.25bn | ¥850.9m | ¥731.4m | ¥634.2m | ¥601.5m | ¥487.3m | ¥421.2m |
| Debt | — | — | −¥6.7m | −¥4.7m | — | — | — | — | — | ¥47.0m |
| Shareholders' equity | ¥1.31bn | ¥1.30bn | ¥1.21bn | ¥936.9m | ¥973.2m | ¥813.6m | ¥748.7m | ¥646.5m | ¥195.8m | ¥109.9m |
| Shares outstanding | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥123.4m | ¥748.3m | ¥310.9m | ¥211.0m | ¥218.3m | ¥76.5m | ¥60.9m | ¥138.2m | ¥193.8m | ¥51.1m |
| Capital spending | −¥5.3m | −¥27.4m | −¥41.0m | −¥96.8m | −¥14.0m | −¥45.3m | −¥5.8m | −¥33.3m | −¥358,000 | −¥450,000 |
| Free cash flow | ¥118.1m | ¥720.9m | ¥269.9m | ¥114.1m | ¥204.3m | ¥31.3m | ¥55.1m | ¥104.9m | ¥193.4m | ¥50.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.80bn | ¥2.98bn | ¥2.86bn | ¥2.77bn | ¥2.65bn | ¥2.88bn | ¥2.84bn | ¥2.79bn |
| Gross profit | ¥689.4m | ¥779.7m | ¥742.1m | ¥719.1m | ¥631.0m | ¥690.8m | ¥725.0m | ¥723.2m |
| Operating income | −¥11.3m | ¥136.0m | ¥117.2m | ¥55.5m | −¥19.4m | ¥90.2m | ¥157.9m | ¥136.5m |
| Net income | −¥127.7m | ¥84.2m | ¥91.7m | ¥51.3m | −¥115.0m | ¥55.5m | ¥99.3m | ¥72.6m |
| Diluted earnings per share | -24.39 | 16.08 | 17.59 | 9.84 | -22.06 | 10.65 | 18.51 | 13.53 |
| Total assets | ¥3.28bn | ¥3.53bn | ¥3.27bn | ¥3.11bn | ¥3.06bn | ¥3.44bn | ¥3.26bn | ¥3.32bn |
| Cash and short-term investments | ¥1.76bn | ¥1.57bn | ¥1.39bn | ¥1.45bn | ¥1.33bn | ¥1.29bn | ¥1.35bn | ¥1.57bn |
| Shareholders' equity | ¥1.41bn | ¥1.53bn | ¥1.40bn | ¥1.31bn | ¥1.32bn | ¥1.47bn | ¥1.40bn | ¥1.30bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 24.8% | 25.7% | 26.0% | 25.0% | 25.5% | 20.9% | — | — | — |
| Operating margin | 1.8% | 2.3% | 3.6% | 1.8% | 4.7% | 1.6% | — | — | — |
| Net margin | 0.8% | 0.6% | 2.3% | 0.6% | 2.9% | 1.0% | — | — | — |
| Return on equity | 7.0% | 5.1% | 15.9% | 4.2% | 14.7% | 5.1% | — | — | — |
| Return on assets | 2.9% | 2.0% | 7.0% | 1.8% | 7.8% | 2.7% | — | — | — |
| Free cash flow yield | 5.5% | 32.1% | 14.6% | 13.1% | 9.6% | 5.1% | — | — | — |
| Revenue growth | 5.1% | 26.7% | 31.8% | 29.5% | 18.1% | 15.5% | — | — | — |
| Earnings growth | 37.1% | -65.5% | 391.0% | -72.5% | 241.8% | -54.3% | — | — | — |
| Current ratio | 1.53x | 1.46x | 1.32x | 1.36x | 1.98x | 1.92x | — | — | — |
| Debt to equity | — | — | -0.01x | -0.00x | 0.00x | 0.00x | — | 0.93x | 1.88x |
| Equity ratio | 42.1% | 39.2% | 44.0% | 42.8% | 53.4% | 52.7% | — | — | — |
| Interest coverage | — | — | 280.23x | — | — | 961.23x | 356.60x | 51.30x | 13.91x |
| Buybacks as a share of market value | 2.8% | -0.3% | -2.5% | 2.3% | 0.0% | -1.3% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.6% | 21.8% | 21.9% |
| Operating income | 36.2% | 29.8% | — |
| Net income | 32.4% | 16.9% | 27.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.2% | 25.4% | 25.0% | 23.9% |
| Operating margin | 3.9% | 3.5% | 3.5% | 3.5% |
| Net margin | 0.7% | 1.1% | 1.3% | 1.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 35.6 | 79.1 | 23.2 | 90.0 | 28.8 | 161.2 | 50.6 | 41.1 | 181.1 |
| Price to sales | 0.3 | 0.5 | 0.5 | 0.6 | 0.8 | 1.6 | 1.3 | 1.4 | 6.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 4-for-1 split · 16 Dec 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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