P 
62
-4.62%
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
¥1.00bn
FY2016FY2025
Net income
−¥853.9m
FY2016FY2025
Free cash flow
−¥1.03bn
FY2016FY2025
Shareholders' equity
¥845.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.00bn | ¥1.16bn | ¥1.45bn | ¥2.01bn | ¥3.33bn | ¥3.74bn | ¥5.07bn | ¥2.55bn | ¥2.42bn | ¥1.90bn |
| Gross profit | ¥276.9m | ¥230.4m | ¥135.2m | ¥187.9m | ¥449.0m | ¥222.1m | ¥613.9m | ¥390.0m | ¥804.3m | ¥443.3m |
| Research and development | ¥135.8m | — | ¥118.0m | ¥115.6m | ¥78.8m | ¥56.2m | — | ¥75.0m | ¥133.0m | ¥257.0m |
| Operating income | −¥796.0m | −¥846.7m | −¥1.40bn | −¥1.31bn | −¥853.6m | −¥1.22bn | −¥1.55bn | −¥1.03bn | ¥19.0m | −¥393.1m |
| Net income | −¥853.9m | −¥1.20bn | −¥1.41bn | −¥1.33bn | −¥937.3m | −¥1.24bn | −¥1.56bn | −¥1.05bn | ¥7.3m | −¥481.4m |
| Diluted earnings per share | -83.41 | -399.96 | -2,038.31 | -5,522.07 | -5.46 | -11.81 | -22.98 | -18.27 | 0.15 | -29.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.13bn | ¥619.2m | ¥980.4m | ¥1.74bn | ¥2.39bn | ¥1.98bn | ¥2.30bn | ¥3.70bn | ¥3.15bn | ¥1.24bn |
| Cash and short-term investments | ¥575.5m | ¥94.8m | ¥44.1m | ¥368.0m | ¥962.6m | ¥344.0m | ¥210.7m | ¥1.06bn | ¥1.84bn | ¥384.8m |
| Total liabilities | ¥280.5m | ¥418.9m | ¥451.9m | ¥433.9m | ¥500.9m | ¥636.7m | ¥568.1m | ¥765.2m | ¥556.1m | ¥553.7m |
| Debt | — | — | ¥115.0m | — | — | — | — | — | — | ¥117.5m |
| Shareholders' equity | ¥845.9m | ¥200.2m | ¥528.5m | ¥1.31bn | ¥1.89bn | ¥1.34bn | ¥1.73bn | ¥2.93bn | ¥2.59bn | ¥686.4m |
| Shares outstanding | 10m | 3m | 1m | 0m | 172m | 105m | 68m | 57m | 48m | 16m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥997.7m | −¥655.2m | −¥1.02bn | −¥1.24bn | −¥746.0m | −¥513.1m | −¥644.0m | −¥843.0m | −¥255.0m | −¥471.1m |
| Capital spending | −¥32.0m | −¥46.2m | −¥44.1m | −¥92.8m | −¥98.1m | −¥204.7m | −¥112.0m | −¥110.0m | −¥66.0m | −¥41.0m |
| Free cash flow | −¥1.03bn | −¥701.4m | −¥1.06bn | −¥1.33bn | −¥844.1m | −¥717.9m | −¥756.0m | −¥953.0m | −¥321.0m | −¥512.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥328.8m | ¥256.0m | ¥346.3m | ¥218.8m | ¥288.1m | ¥260.0m | ¥234.0m | ¥256.0m |
| Gross profit | ¥64.7m | ¥76.6m | ¥129.5m | ¥53.8m | ¥97.9m | ¥50.3m | ¥63.0m | −¥2.0m |
| Operating income | −¥535.0m | −¥448.4m | −¥209.8m | −¥222.8m | −¥163.4m | −¥222.8m | −¥187.0m | −¥265.0m |
| Net income | −¥552.4m | −¥494.1m | −¥246.6m | −¥259.6m | −¥158.5m | −¥227.8m | −¥207.0m | −¥530.0m |
| Diluted earnings per share | -34.34 | -30.72 | -24.09 | -25.36 | -15.48 | -22.25 | -68.86 | -176.32 |
| Cash from operations | — | — | — | −¥997.0m | — | — | — | — |
| Capital spending | — | — | — | −¥31.0m | — | — | — | — |
| Free cash flow | — | — | — | −¥1.03bn | — | — | — | — |
| Total assets | ¥1.45bn | ¥2.03bn | ¥1.16bn | ¥1.13bn | ¥1.10bn | ¥870.1m | ¥1.11bn | ¥619.0m |
| Cash and short-term investments | ¥513.5m | ¥1.28bn | ¥499.4m | ¥575.5m | ¥520.7m | ¥252.1m | ¥517.3m | ¥94.0m |
| Debt | ¥750.0m | ¥750.0m | ¥300.0m | — | ¥30.0m | — | ¥550.0m | — |
| Shareholders' equity | ¥428.8m | ¥986.2m | ¥599.2m | ¥845.9m | ¥755.7m | ¥550.3m | ¥194.6m | ¥199.0m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 27.7% | 19.8% | 9.3% | 9.4% | 13.5% | 5.9% | — | — | — |
| Operating margin | -84.0% | -103.0% | -96.7% | -66.0% | -25.6% | -33.1% | — | — | — |
| Net margin | -85.3% | -103.4% | -97.4% | -66.3% | -28.2% | -33.2% | — | — | — |
| Return on equity | -100.9% | -600.5% | -267.5% | -101.8% | -49.7% | -92.2% | — | — | — |
| Return on assets | -75.8% | -194.2% | -144.2% | -76.4% | -39.3% | -62.6% | — | — | — |
| Free cash flow yield | -115.0% | -247.1% | -1712.2% | -5801.8% | -4.6% | -3.6% | — | — | — |
| Revenue growth | -13.9% | -19.8% | -27.7% | -39.7% | -10.9% | -26.4% | — | — | — |
| Earnings growth | -29.0% | -15.0% | 6.1% | 42.1% | -24.4% | -20.7% | — | — | — |
| Current ratio | 4.58x | 1.68x | 2.03x | 3.87x | 4.70x | 2.90x | — | — | — |
| Debt to equity | — | — | 0.22x | 0.00x | 0.00x | 0.00x | — | 0.17x | 1.67x |
| Equity ratio | 75.1% | 32.3% | 53.9% | 75.1% | 79.0% | 67.9% | — | — | — |
| Interest coverage | -107.75x | -1275.42x | -237.30x | -86.48x | -52.00x | -2278.86x | — | — | — |
| R&D as a share of sales | 13.6% | — | 8.1% | 5.8% | 2.4% | 1.5% | 2.9% | — | — |
| Buybacks as a share of market value | -240.6% | -333.4% | -187.5% | 99.9% | -63.4% | -54.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.7% | -23.2% | -9.8% |
| Operating income | -15.3% | -8.3% | 9.3% |
| Net income | -13.8% | -7.2% | 11.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 23.4% | 14.8% | 11.8% | 15.7% |
| Operating margin | -75.9% | -77.3% | -50.7% | -35.3% |
| Net margin | -95.0% | -85.4% | -55.0% | -37.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.1 | -1.1 | -0.4 | -0.0 | -67.0 | -43.7 | -37.5 | -109.5 | — | -73.3 |
| Price to sales | 3.5 | 1.2 | 0.4 | 0.0 | 18.9 | 14.5 | 11.6 | 45.0 | 74.2 | 18.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Sept 2006.
| FY2005 | FY2004 | |
|---|---|---|
| Paid in the year | 2,400.00 | 1,700.00 |
- 100-to-1 reverse split · 27 Dec 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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