R 
519
+5.92%
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
¥5.78bn
FY2017FY2026
Net income
−¥12.2m
FY2017FY2026
Free cash flow
−¥122.4m
FY2017FY2026
Shareholders' equity
¥4.59bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.78bn | ¥5.70bn | ¥5.45bn | ¥6.86bn | ¥7.42bn | ¥5.46bn | ¥4.48bn | ¥4.23bn | ¥4.61bn | ¥4.96bn |
| Gross profit | ¥1.24bn | ¥1.25bn | ¥1.27bn | ¥2.41bn | ¥2.48bn | ¥1.64bn | ¥936.7m | ¥373.2m | ¥655.9m | ¥781.4m |
| Research and development | — | ¥302.9m | ¥243.7m | ¥288.8m | ¥207.9m | ¥195.9m | ¥169.4m | ¥174.3m | ¥187.3m | ¥204.9m |
| Operating income | −¥70.8m | −¥75.7m | ¥9.0m | ¥1.13bn | ¥1.24bn | ¥577.1m | ¥13.1m | −¥711.5m | −¥407.2m | −¥275.2m |
| Net income | −¥12.2m | −¥79.5m | −¥133.3m | ¥894.0m | ¥1.11bn | ¥558.9m | ¥87.6m | −¥753.4m | −¥441.5m | −¥278.4m |
| Diluted earnings per share | -1.48 | -9.66 | -16.19 | 108.62 | 128.75 | 64.76 | 11.87 | -102.21 | -59.90 | -37.77 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥10.71bn | ¥10.79bn | ¥10.18bn | ¥10.13bn | ¥9.14bn | ¥7.90bn | ¥6.78bn | ¥6.51bn | ¥7.78bn | ¥7.09bn |
| Cash and short-term investments | ¥2.81bn | ¥2.85bn | ¥2.77bn | ¥2.53bn | ¥1.93bn | ¥1.71bn | ¥1.55bn | ¥1.39bn | ¥1.59bn | ¥1.32bn |
| Total liabilities | ¥6.12bn | ¥6.29bn | ¥5.73bn | ¥5.32bn | ¥5.24bn | ¥6.27bn | ¥5.86bn | ¥5.66bn | ¥6.10bn | ¥5.01bn |
| Debt | ¥4.76bn | ¥4.84bn | ¥4.01bn | ¥3.78bn | ¥3.43bn | ¥4.20bn | ¥4.22bn | ¥4.40bn | ¥4.65bn | ¥3.27bn |
| Shareholders' equity | ¥4.59bn | ¥4.50bn | ¥4.45bn | ¥4.81bn | ¥3.91bn | ¥1.63bn | ¥922.9m | ¥852.5m | ¥1.68bn | ¥2.08bn |
| Shares outstanding | 8m | 8m | 8m | 8m | 9m | 9m | 7m | 7m | 7m | 7m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥315.2m | ¥186.0m | ¥973.5m | ¥1.25bn | ¥1.11bn | ¥591.8m | ¥412.4m | ¥272.5m | −¥54.3m | ¥98.4m |
| Capital spending | −¥437.6m | −¥992.2m | −¥662.6m | −¥967.2m | −¥1.13bn | −¥488.9m | −¥123.8m | −¥167.1m | −¥1.07bn | −¥316.0m |
| Free cash flow | −¥122.4m | −¥806.1m | ¥310.9m | ¥286.8m | −¥16.4m | ¥102.9m | ¥288.6m | ¥105.4m | −¥1.12bn | −¥217.6m |
| Dividends paid | −¥82.3m | −¥82.3m | −¥110.2m | −¥112.2m | −¥80.8m | −¥80.0m | −¥80.0m | −¥80.0m | — | −¥11.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.75bn | ¥1.60bn | ¥1.32bn | ¥1.36bn | ¥1.50bn | ¥1.66bn | ¥1.29bn | ¥1.42bn |
| Gross profit | ¥353.5m | ¥419.5m | ¥315.9m | ¥204.8m | ¥300.7m | ¥355.3m | ¥254.4m | ¥305.8m |
| Operating income | −¥7.0m | ¥93.2m | ¥5.9m | −¥117.7m | −¥52.2m | ¥27.8m | −¥57.9m | −¥70.9m |
| Net income | −¥34.5m | ¥149.6m | ¥13.7m | −¥51.4m | −¥124.0m | ¥40.8m | −¥78.6m | −¥75.3m |
| Diluted earnings per share | -4.19 | 18.17 | 1.66 | -6.25 | -15.06 | 4.96 | -9.55 | -9.15 |
| Cash from operations | ¥396.0m | — | −¥77.0m | −¥163.0m | ¥556.0m | ¥37.0m | ¥93.0m | −¥277.0m |
| Capital spending | −¥238.0m | −¥167.0m | −¥25.0m | −¥127.0m | −¥119.0m | −¥297.0m | −¥187.0m | −¥395.0m |
| Free cash flow | ¥158.0m | — | −¥102.0m | −¥290.0m | ¥437.0m | −¥260.0m | −¥94.0m | −¥672.0m |
| Total assets | ¥10.79bn | ¥10.71bn | ¥10.49bn | ¥10.14bn | ¥10.69bn | ¥10.79bn | ¥10.47bn | ¥10.90bn |
| Cash and short-term investments | ¥2.89bn | ¥2.81bn | ¥3.00bn | ¥2.75bn | ¥3.17bn | ¥2.85bn | ¥2.72bn | ¥2.98bn |
| Debt | ¥1.78bn | ¥4.69bn | ¥1.99bn | ¥4.39bn | ¥1.75bn | ¥4.76bn | ¥1.91bn | ¥4.44bn |
| Shareholders' equity | ¥4.59bn | ¥4.59bn | ¥4.34bn | ¥4.33bn | ¥4.21bn | ¥4.50bn | ¥4.31bn | ¥4.57bn |
Financial ratios
Data as of 11 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 21.5% | 21.9% | 23.2% | 35.2% | 33.5% | 30.0% | — |
| Operating margin | -1.2% | -1.3% | 0.2% | 16.4% | 16.8% | 10.6% | — |
| Net margin | -0.2% | -1.4% | -2.4% | 13.0% | 15.0% | 10.2% | — |
| Return on equity | -0.3% | -1.8% | -3.0% | 18.6% | 28.5% | 34.2% | — |
| Return on assets | -0.1% | -0.7% | -1.3% | 8.8% | 12.2% | 7.1% | — |
| Free cash flow yield | 11.0% | 17.2% | 23.8% | 32.4% | 31.2% | 15.0% | — |
| Revenue growth | 1.5% | 4.5% | -20.4% | -7.6% | 35.9% | 21.8% | — |
| Earnings growth | -84.7% | -40.4% | -114.9% | -19.5% | 98.8% | 538.2% | — |
| Current ratio | 2.52x | 2.27x | 2.01x | 2.12x | 1.73x | 1.12x | — |
| Debt to equity | 1.02x | 1.06x | 0.88x | 0.77x | 0.86x | 2.57x | — |
| Equity ratio | 42.8% | 41.7% | 43.7% | 47.5% | 42.7% | 20.6% | — |
| Interest coverage | -1.20x | -1.52x | 0.19x | 23.25x | 20.32x | 10.92x | — |
| R&D as a share of sales | — | 5.3% | 4.5% | 4.2% | 2.8% | 3.6% | 3.8% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 4.6% | 0.0% | -17.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.5% | 1.2% | 0.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.7% | 25.9% | 28.1% | 23.5% |
| Operating margin | -1.3% | 4.2% | 7.7% | 2.5% |
| Net margin | -0.8% | 2.8% | 6.4% | 1.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -390.2 | -46.0 | -25.9 | 5.6 | 5.7 | 19.9 | 117.7 | -4.6 | -2.8 | -10.7 |
| Price to sales | 0.8 | 0.6 | 0.6 | 0.7 | 0.8 | 2.0 | 2.3 | 0.8 | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2017 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 15.00 | 10.00 | 13.00 | 13.00 | 10.00 | 1.50 | 1.00 | 3.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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