I 
522
+3.78%
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
¥2.48bn
FY2017FY2026
Net income
¥76.9m
FY2017FY2026
Free cash flow
−¥574.2m
FY2017FY2026
Shareholders' equity
¥1.04bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.48bn | ¥2.24bn | ¥1.67bn | ¥2.29bn | ¥1.76bn | ¥1.27bn | ¥1.88bn | ¥2.85bn | ¥1.92bn | ¥2.16bn |
| Gross profit | ¥840.5m | ¥895.5m | ¥596.7m | ¥822.8m | ¥651.6m | ¥445.3m | ¥725.4m | ¥1.16bn | ¥661.9m | ¥925.8m |
| Research and development | ¥256.2m | ¥358.9m | ¥425.1m | ¥285.1m | ¥227.1m | ¥179.5m | ¥146.0m | ¥129.0m | ¥130.6m | ¥101.9m |
| Operating income | ¥158.6m | ¥108.7m | −¥233.3m | ¥136.4m | ¥18.9m | −¥277.8m | ¥164.6m | ¥316.6m | −¥252.5m | ¥163.4m |
| Net income | ¥76.9m | −¥142.3m | −¥353.8m | ¥78.8m | ¥155.4m | −¥1.20bn | ¥173.4m | ¥222.0m | −¥463.1m | ¥106.3m |
| Diluted earnings per share | 19.15 | -35.46 | -88.26 | 19.68 | 39.12 | -303.38 | 45.79 | 67.16 | -139.84 | 32.62 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.74bn | ¥3.02bn | ¥3.76bn | ¥4.01bn | ¥3.28bn | ¥2.70bn | ¥3.76bn | ¥3.03bn | ¥3.01bn | ¥2.49bn |
| Cash and short-term investments | ¥508.5m | ¥540.3m | ¥738.6m | ¥605.1m | ¥696.8m | ¥781.2m | ¥1.11bn | ¥977.8m | ¥907.9m | ¥775.7m |
| Total liabilities | ¥2.70bn | ¥2.06bn | ¥2.68bn | ¥2.60bn | ¥2.19bn | ¥1.80bn | ¥1.71bn | ¥1.77bn | ¥1.88bn | ¥1.29bn |
| Debt | ¥2.24bn | ¥1.67bn | ¥2.34bn | ¥2.20bn | ¥1.77bn | ¥1.35bn | ¥1.38bn | ¥860.1m | ¥1.37bn | ¥863.5m |
| Shareholders' equity | ¥1.04bn | ¥958.6m | ¥1.08bn | ¥1.41bn | ¥1.09bn | ¥904.3m | ¥2.05bn | ¥1.24bn | ¥971.3m | ¥849.5m |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥519.4m | ¥525.9m | ¥102.8m | −¥589.1m | −¥175.7m | −¥153.7m | ¥98.4m | ¥515.1m | −¥437.3m | ¥346.5m |
| Capital spending | −¥54.8m | −¥66.6m | −¥83.4m | −¥133.6m | −¥299.8m | −¥146.5m | −¥477.1m | −¥77.2m | −¥93.0m | −¥82.0m |
| Free cash flow | −¥574.2m | ¥459.3m | ¥19.4m | −¥722.7m | −¥475.5m | −¥300.2m | −¥378.7m | ¥437.9m | −¥530.3m | ¥264.5m |
| Dividends paid | −¥101,000 | −¥14,000 | −¥12.0m | −¥11.3m | −¥11,000 | −¥11.1m | −¥11.1m | — | — | — |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥496.5m | ¥1.40bn | ¥705.2m | ¥273.8m | ¥99.1m | ¥868.8m | ¥364.0m | ¥779.2m |
| Gross profit | ¥195.1m | ¥468.6m | ¥227.8m | ¥110.9m | ¥49.9m | ¥341.0m | ¥145.0m | ¥320.0m |
| Operating income | −¥21.3m | ¥279.5m | ¥36.5m | −¥69.0m | −¥138.4m | ¥166.3m | −¥57.9m | ¥116.3m |
| Net income | −¥1.8m | ¥269.4m | ¥23.6m | −¥70.3m | −¥145.9m | ¥180.1m | −¥332.4m | ¥137.4m |
| Diluted earnings per share | -0.46 | 67.13 | 5.89 | -17.51 | -36.35 | 44.87 | -82.83 | 34.28 |
| Total assets | ¥2.87bn | ¥3.74bn | ¥3.71bn | ¥3.28bn | ¥3.08bn | ¥3.02bn | ¥3.01bn | ¥3.56bn |
| Cash and short-term investments | ¥317.3m | ¥508.5m | ¥671.2m | ¥426.5m | ¥294.4m | ¥540.3m | ¥479.2m | ¥650.6m |
| Debt | ¥1.03bn | ¥2.23bn | ¥2.06bn | ¥2.18bn | ¥1.35bn | ¥1.67bn | ¥1.35bn | ¥2.14bn |
| Shareholders' equity | ¥1.01bn | ¥1.04bn | ¥773.6m | ¥747.1m | ¥814.8m | ¥958.6m | ¥769.9m | ¥1.10bn |
Financial ratios
Data as of 27 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 33.9% | 40.0% | 35.8% | 35.9% | 37.0% | 35.0% |
| Operating margin | 4.7% | 4.9% | -14.0% | 4.6% | 1.1% | -21.8% |
| Net margin | 3.1% | -6.4% | -21.2% | 3.4% | 8.8% | -93.9% |
| Return on equity | 7.4% | -14.8% | -32.8% | 5.6% | 14.3% | -132.3% |
| Return on assets | 2.1% | -4.7% | -9.4% | 2.0% | 4.7% | -44.3% |
| Free cash flow yield | -18.5% | 23.6% | 7.4% | -18.2% | 5.0% | -0.3% |
| Revenue growth | 10.8% | 34.1% | -27.2% | 30.0% | 38.4% | -32.3% |
| Earnings growth | -154.0% | -59.8% | -548.8% | -49.3% | -113.0% | -789.8% |
| Current ratio | 1.27x | 1.56x | 1.48x | 1.75x | 1.99x | 3.53x |
| Debt to equity | 2.15x | 1.74x | 2.15x | 1.55x | 1.60x | 1.48x |
| Equity ratio | 27.7% | 31.7% | 28.7% | 35.1% | 33.2% | 33.5% |
| Interest coverage | 2.70x | 2.09x | -6.38x | 2.18x | 0.82x | -6.96x |
| R&D as a share of sales | 10.3% | 16.0% | 25.5% | 12.4% | 12.9% | 14.1% |
| Buybacks as a share of market value | -0.0% | -0.1% | -0.1% | -0.9% | -0.8% | -4.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.7% | 14.2% | 4.3% |
| Operating income | 5.1% | — | — |
| Net income | -0.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.8% | 36.4% | 36.3% | 37.9% |
| Operating margin | 5.7% | 2.0% | -0.8% | 1.3% |
| Net margin | -1.4% | -3.9% | -11.8% | -6.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.3 | -16.0 | -6.8 | 52.9 | 23.4 | -5.7 | 53.3 | 51.3 | -7.7 | 33.9 |
| Price to sales | 0.8 | 1.0 | 1.4 | 1.8 | 2.1 | 5.3 | 4.9 | 4.0 | 1.9 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 28 Apr 2025.
| FY2025 | FY2024 | FY2023 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 3.00 | 6.00 | 3.00 | 3.00 |
- 100-for-1 split · 29 Oct 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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