M 
1,059
+16.50%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥5.14bn
FY2017FY2026
Net income
¥372.4m
FY2017FY2026
Free cash flow
¥556.8m
FY2017FY2026
Shareholders' equity
¥3.13bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.14bn | ¥4.55bn | ¥4.21bn | ¥4.65bn | ¥4.71bn | ¥3.80bn | ¥3.66bn | ¥4.38bn | ¥4.73bn | ¥4.48bn |
| Gross profit | ¥1.62bn | ¥1.43bn | ¥1.14bn | ¥1.47bn | ¥1.50bn | ¥993.2m | ¥845.8m | ¥953.3m | ¥1.04bn | ¥794.5m |
| Research and development | — | ¥91.4m | ¥137.8m | ¥151.9m | ¥95.9m | ¥73.9m | ¥73.1m | — | ¥84.0m | ¥134.0m |
| Operating income | ¥581.5m | ¥491.2m | ¥255.0m | ¥546.8m | ¥642.1m | ¥76.6m | ¥25.8m | ¥91.9m | ¥143.3m | −¥322.2m |
| Net income | ¥372.4m | ¥450.0m | ¥28.8m | ¥306.6m | −¥223.9m | ¥134.5m | −¥193.1m | −¥647.3m | −¥116.1m | −¥1.21bn |
| Diluted earnings per share | 97.15 | 140.31 | 8.98 | 95.59 | -69.82 | 52.33 | -75.15 | -251.85 | -49.73 | -476.23 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥6.91bn | ¥6.59bn | ¥6.61bn | ¥6.92bn | ¥6.43bn | ¥5.60bn | ¥5.53bn | ¥5.78bn | ¥6.06bn | ¥6.26bn |
| Cash and short-term investments | ¥1.53bn | ¥1.16bn | ¥1.79bn | ¥2.06bn | ¥1.84bn | ¥1.31bn | ¥1.22bn | ¥1.43bn | ¥1.54bn | ¥1.74bn |
| Total liabilities | ¥3.77bn | ¥3.83bn | ¥4.30bn | ¥4.64bn | ¥4.45bn | ¥3.90bn | ¥3.97bn | ¥4.03bn | ¥3.52bn | ¥3.57bn |
| Debt | ¥2.13bn | ¥2.38bn | ¥2.62bn | ¥2.89bn | ¥2.47bn | ¥2.52bn | ¥2.15bn | ¥1.83bn | ¥1.47bn | ¥1.48bn |
| Shareholders' equity | ¥3.13bn | ¥2.76bn | ¥2.31bn | ¥2.28bn | ¥1.97bn | ¥1.70bn | ¥1.56bn | ¥1.76bn | ¥2.55bn | ¥2.69bn |
| Shares outstanding | 4m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 2m | 3m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥782.5m | −¥85.1m | ¥375.9m | ¥244.3m | ¥290.1m | −¥156.4m | −¥440.4m | −¥349.3m | −¥377.0m | −¥957.0m |
| Capital spending | −¥225.8m | −¥300.0m | −¥402.5m | −¥274.1m | −¥201.9m | −¥114.9m | −¥161.1m | −¥158.1m | −¥107.0m | −¥23.0m |
| Free cash flow | ¥556.8m | −¥385.0m | −¥26.6m | −¥29.7m | ¥88.1m | −¥271.4m | −¥601.6m | −¥507.4m | −¥484.0m | −¥980.0m |
| Dividends paid | — | — | — | — | — | — | — | — | −¥47,000 | −¥104,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.40bn | ¥1.37bn | ¥1.28bn | ¥1.22bn | ¥1.27bn | ¥1.14bn | ¥1.25bn | ¥1.11bn |
| Gross profit | ¥392.7m | ¥397.6m | ¥429.6m | ¥383.7m | ¥411.3m | ¥380.6m | ¥422.5m | ¥309.7m |
| Operating income | ¥123.4m | ¥125.2m | ¥183.4m | ¥106.9m | ¥166.1m | ¥135.4m | ¥188.2m | ¥81.6m |
| Net income | ¥78.6m | ¥173.1m | −¥28.6m | ¥99.5m | ¥128.4m | ¥204.8m | ¥166.0m | ¥18.4m |
| Diluted earnings per share | 20.49 | 45.14 | -8.91 | 31.04 | 40.05 | 63.86 | 51.76 | 5.74 |
| Total assets | ¥7.57bn | ¥6.91bn | ¥6.79bn | ¥6.68bn | ¥6.65bn | ¥6.59bn | ¥6.77bn | ¥6.60bn |
| Cash and short-term investments | ¥2.13bn | ¥1.53bn | ¥1.32bn | ¥1.27bn | ¥1.19bn | ¥1.16bn | ¥1.24bn | ¥1.38bn |
| Debt | ¥1.60bn | ¥2.09bn | ¥1.60bn | ¥2.15bn | ¥1.61bn | ¥2.33bn | ¥1.63bn | ¥2.36bn |
| Shareholders' equity | ¥3.72bn | ¥3.13bn | ¥2.96bn | ¥2.99bn | ¥2.89bn | ¥2.76bn | ¥2.55bn | ¥2.39bn |
Financial ratios
Data as of 26 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 31.5% | 31.5% | 27.1% | 31.7% | 31.8% | 26.1% | — |
| Operating margin | 11.3% | 9.6% | 3.8% | 5.4% | -5.0% | 2.0% | — |
| Net margin | 7.2% | 9.9% | 0.7% | 6.6% | -4.8% | 3.5% | — |
| Return on equity | 11.9% | 16.3% | 1.2% | 13.4% | -11.3% | 7.9% | — |
| Return on assets | 5.4% | 6.8% | 0.4% | 4.4% | -3.5% | 2.4% | — |
| Free cash flow yield | 23.8% | 6.1% | 21.9% | 14.6% | 13.9% | -1.5% | — |
| Revenue growth | 13.1% | 8.0% | -9.5% | -1.3% | 23.8% | 4.0% | — |
| Earnings growth | -17.2% | 1462.3% | -90.6% | -236.9% | -266.5% | -169.6% | — |
| Current ratio | 1.63x | 1.64x | 1.64x | 1.72x | 1.67x | 1.58x | — |
| Debt to equity | 0.67x | 0.84x | 1.10x | 1.22x | 1.24x | 1.47x | — |
| Equity ratio | 45.3% | 41.9% | 35.0% | 32.9% | 30.7% | 30.3% | — |
| Interest coverage | 18.52x | 14.87x | 6.44x | 12.06x | -10.85x | 2.31x | — |
| R&D as a share of sales | — | 2.0% | 3.3% | 3.3% | 2.0% | 1.9% | 2.0% |
| Buybacks as a share of market value | -19.5% | 0.0% | 0.0% | -0.0% | -24.8% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.4% | 6.2% | 0.9% |
| Operating income | 2.1% | 50.0% | — |
| Net income | 6.7% | 22.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.5% | 30.6% | 30.1% | 25.9% |
| Operating margin | 11.1% | 10.1% | 9.6% | 4.5% |
| Net margin | 8.5% | 6.2% | 3.9% | -5.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.3 | 6.0 | 50.8 | 6.1 | -11.5 | 17.3 | -6.7 | -1.6 | -6.0 | -1.7 |
| Price to sales | 0.7 | 0.6 | 0.3 | 0.4 | 0.6 | 0.6 | 0.3 | 0.2 | 0.1 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Mar 2014.
| FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 15.00 | 15.00 | 15.00 | 20.00 | 15.00 | 15.00 | 25.00 | 30.00 |
- 10-to-1 reverse split · 27 Sept 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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