A 
182
0.00%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥3.14bn
FY2017FY2026
Net income
¥7.0m
FY2017FY2026
Free cash flow
−¥59.0m
FY2017FY2026
Shareholders' equity
¥906.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.14bn | ¥3.21bn | ¥5.02bn | ¥2.98bn | ¥2.83bn | ¥3.04bn | ¥2.95bn | ¥3.92bn | ¥1.92bn | ¥688.6m |
| Research and development | — | — | — | — | — | — | — | — | ¥19.4m | ¥10.1m |
| Operating income | ¥8.0m | −¥266.0m | −¥317.5m | ¥146.1m | ¥66.1m | −¥83.6m | −¥202.6m | ¥512.4m | ¥365.2m | ¥223.7m |
| Net income | ¥7.0m | −¥326.1m | ¥88.9m | ¥79.7m | −¥350.4m | −¥561.4m | −¥362.1m | ¥327.9m | ¥260.6m | ¥173.9m |
| Diluted earnings per share | 0.62 | -28.95 | 7.90 | 7.07 | -34.41 | -57.03 | -36.85 | 33.28 | 26.58 | 15.44 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.87bn | ¥2.02bn | ¥2.63bn | ¥5.28bn | ¥4.86bn | ¥5.38bn | ¥6.34bn | ¥3.04bn | ¥1.32bn | ¥593.6m |
| Cash and short-term investments | ¥721.0m | ¥860.7m | ¥1.56bn | ¥925.4m | ¥479.1m | ¥774.7m | ¥1.03bn | ¥1.35bn | ¥672.5m | ¥172.2m |
| Total liabilities | ¥966.0m | ¥1.13bn | ¥1.42bn | ¥4.15bn | ¥4.31bn | ¥4.49bn | ¥4.89bn | ¥1.24bn | ¥869.6m | ¥401.1m |
| Debt | ¥300.0m | ¥357.1m | ¥455.9m | ¥3.31bn | ¥3.42bn | ¥3.76bn | ¥3.81bn | ¥551.5m | ¥352.3m | ¥236.5m |
| Shareholders' equity | ¥906.0m | ¥891.4m | ¥1.21bn | ¥1.12bn | ¥541.0m | ¥888.3m | ¥1.45bn | ¥1.80bn | ¥453.1m | ¥192.5m |
| Shares outstanding | 11m | 11m | 11m | 11m | 10m | 10m | 10m | 10m | 10m | 11m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥53.0m | −¥428.9m | ¥1.83bn | −¥71.0m | −¥32.1m | −¥118.1m | −¥3.28bn | −¥114.9m | ¥515.9m | ¥45.8m |
| Capital spending | −¥6.0m | −¥31.4m | −¥10.2m | −¥9.8m | −¥12.0m | −¥27.1m | −¥23.1m | −¥19.4m | −¥67.1m | −¥60.1m |
| Free cash flow | −¥59.0m | −¥460.2m | ¥1.82bn | −¥80.8m | −¥44.0m | −¥145.2m | −¥3.31bn | −¥134.4m | ¥448.8m | −¥14.3m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥930.0m | ¥784.0m | ¥725.0m | ¥699.0m | ¥790.9m | ¥836.6m | ¥821.4m | ¥760.2m |
| Operating income | ¥53.0m | ¥45.0m | −¥18.0m | −¥72.0m | −¥100.4m | −¥46.9m | −¥63.5m | −¥59.3m |
| Net income | ¥46.0m | ¥45.0m | −¥18.0m | −¥65.0m | −¥153.7m | −¥20.2m | −¥94.8m | −¥57.4m |
| Diluted earnings per share | 4.08 | 4.00 | -1.60 | -5.77 | -13.65 | -1.79 | -8.42 | -5.10 |
| Cash from operations | — | — | — | — | −¥428.0m | — | — | — |
| Capital spending | — | — | — | — | −¥59.0m | — | — | — |
| Free cash flow | — | — | — | — | −¥487.0m | — | — | — |
| Total assets | ¥1.87bn | ¥1.77bn | ¥1.73bn | ¥1.89bn | ¥2.02bn | ¥2.13bn | ¥2.24bn | ¥2.44bn |
| Cash and short-term investments | ¥721.0m | ¥799.0m | ¥812.0m | ¥906.0m | ¥860.7m | ¥1.03bn | ¥1.08bn | ¥1.33bn |
| Debt | ¥94.0m | ¥96.0m | ¥316.0m | ¥106.0m | ¥357.1m | ¥134.9m | ¥414.0m | ¥203.9m |
| Shareholders' equity | ¥906.0m | ¥857.0m | ¥811.0m | ¥829.0m | ¥891.4m | ¥1.05bn | ¥1.06bn | ¥1.15bn |
Financial ratios
Data as of 27 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 0.3% | -9.8% | 2.5% | 3.8% | -11.2% | -17.3% | — | — |
| Net margin | 0.2% | -10.2% | 1.8% | 2.7% | -12.4% | -18.4% | — | — |
| Return on equity | 0.8% | -36.6% | 7.4% | 7.1% | -64.8% | -63.2% | — | — |
| Return on assets | 0.4% | -16.1% | 3.4% | 1.5% | -7.2% | -10.4% | — | — |
| Free cash flow yield | -2.1% | -17.6% | 81.2% | -2.7% | -1.0% | -4.6% | — | — |
| Revenue growth | -2.2% | -36.1% | 68.7% | 5.1% | -6.9% | 3.3% | — | — |
| Earnings growth | -102.1% | -466.6% | 11.6% | -122.7% | -37.6% | 55.0% | — | — |
| Current ratio | 2.24x | 2.07x | 2.10x | 2.88x | 3.04x | 3.57x | — | — |
| Debt to equity | 0.10x | 0.40x | 0.38x | 2.95x | 6.32x | 4.23x | — | — |
| Equity ratio | 48.3% | 44.1% | 46.0% | 21.2% | 11.1% | 16.5% | — | — |
| Interest coverage | 1.33x | -45.65x | 4.24x | 3.56x | -10.56x | -17.86x | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 1.0% | 1.5% |
| Buybacks as a share of market value | -0.0% | 0.0% | 0.0% | -10.6% | -3.4% | -0.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.7% | 0.6% | 29.0% |
| Operating income | -62.0% | — | -4.6% |
| Net income | -55.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.1% | -3.0% | -2.2% | 1.6% |
| Net margin | -5.0% | -1.0% | -5.3% | -2.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 281.6 | -7.0 | 27.5 | 45.9 | -10.4 | -7.1 | -19.0 | 70.8 | 73.4 |
| Price to sales | 0.6 | 0.7 | 0.5 | 1.2 | 1.3 | 1.3 | 2.3 | 5.9 | 10.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 30 Jul 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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