C 
536
+5.10%
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
¥4.86bn
FY2020FY2025
Net income
¥34.8m
FY2020FY2025
Free cash flow
−¥379.9m
FY2020FY2025
Shareholders' equity
¥4.04bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥4.86bn | ¥4.86bn | ¥4.86bn | ¥5.56bn | ¥3.90bn | ¥2.61bn |
| Gross profit | ¥2.81bn | ¥2.71bn | ¥2.69bn | ¥2.90bn | ¥2.32bn | ¥1.42bn |
| Operating income | ¥59.3m | ¥166.1m | ¥289.2m | ¥907.7m | ¥694.3m | ¥157.4m |
| Net income | ¥34.8m | ¥108.8m | ¥190.9m | ¥609.8m | ¥682.0m | −¥302.2m |
| Diluted earnings per share | 5.70 | 17.87 | 31.42 | 100.40 | 111.37 | -49.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥4.61bn | ¥4.81bn | ¥4.53bn | ¥4.63bn | ¥2.59bn | ¥2.12bn |
| Cash and short-term investments | ¥2.11bn | ¥2.90bn | ¥2.84bn | ¥3.26bn | ¥1.58bn | ¥1.35bn |
| Total liabilities | ¥569.0m | ¥832.2m | ¥668.0m | ¥957.4m | ¥963.8m | ¥1.17bn |
| Debt | — | — | −¥284.1m | −¥94.8m | — | ¥746.7m |
| Shareholders' equity | ¥4.04bn | ¥3.98bn | ¥3.86bn | ¥3.67bn | ¥1.63bn | ¥946.5m |
| Shares outstanding | 6m | 6m | 6m | 6m | 6m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −¥254.4m | ¥238.1m | −¥177.8m | ¥393.8m | ¥1.02bn | ¥260.7m |
| Capital spending | −¥125.5m | −¥151.2m | −¥199.7m | −¥26.1m | −¥22.5m | −¥13.1m |
| Free cash flow | −¥379.9m | ¥87.0m | −¥377.5m | ¥367.7m | ¥1.00bn | ¥247.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.11bn | ¥1.11bn | ¥1.26bn | ¥1.24bn | ¥1.22bn | ¥1.14bn | ¥1.29bn | ¥1.28bn |
| Gross profit | ¥659.9m | ¥651.2m | ¥758.6m | ¥682.1m | ¥712.6m | ¥653.6m | ¥707.2m | ¥697.5m |
| Operating income | −¥92.7m | −¥43.4m | ¥42.3m | −¥19.8m | ¥36.4m | ¥486,000 | ¥13.2m | ¥65.4m |
| Net income | −¥62.5m | −¥39.6m | ¥33.0m | −¥15.8m | ¥27.9m | −¥10.3m | ¥16.4m | ¥36.8m |
| Diluted earnings per share | -10.21 | -6.47 | 5.40 | -2.59 | 4.57 | -1.68 | 2.69 | 6.05 |
| Cash from operations | — | — | −¥151.0m | — | −¥103.0m | — | ¥4.0m | — |
| Capital spending | — | — | −¥131.0m | — | −¥27.0m | — | −¥58.0m | — |
| Free cash flow | — | — | −¥282.0m | — | −¥130.0m | — | −¥54.0m | — |
| Total assets | ¥4.47bn | ¥4.72bn | ¥4.61bn | ¥4.87bn | ¥4.67bn | ¥4.70bn | ¥4.81bn | ¥4.89bn |
| Cash and short-term investments | ¥1.81bn | ¥1.92bn | ¥2.11bn | ¥1.89bn | ¥2.40bn | ¥2.45bn | ¥2.90bn | ¥2.81bn |
| Shareholders' equity | ¥3.94bn | ¥4.00bn | ¥4.04bn | ¥4.01bn | ¥4.01bn | ¥3.97bn | ¥3.98bn | ¥3.97bn |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 57.7% | 55.7% | 55.3% | 52.2% | 59.5% | 54.4% |
| Operating margin | 1.3% | 3.5% | 6.0% | 16.2% | 17.8% | -11.1% |
| Net margin | 0.7% | 2.2% | 3.9% | 11.0% | 17.5% | -11.6% |
| Return on equity | 0.9% | 2.7% | 4.9% | 16.6% | 41.9% | -31.9% |
| Return on assets | 0.8% | 2.3% | 4.2% | 13.2% | 26.3% | -14.3% |
| Free cash flow yield | -7.7% | 7.2% | -5.4% | 12.0% | — | — |
| Revenue growth | -0.0% | 0.1% | -12.6% | 42.5% | 49.2% | — |
| Earnings growth | -68.0% | -43.0% | -68.7% | -10.6% | -325.6% | — |
| Current ratio | 8.04x | 5.82x | 7.01x | 4.63x | 2.41x | 3.59x |
| Debt to equity | — | — | -0.07x | -0.03x | 0.00x | 0.79x |
| Equity ratio | 87.7% | 82.7% | 85.3% | 79.3% | 62.8% | 44.7% |
| Interest coverage | — | 290.55x | — | 61.42x | 103.90x | -76.16x |
| Buybacks as a share of market value | -0.5% | -0.2% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.4% | 13.2% | — |
| Operating income | -59.7% | -17.7% | — |
| Net income | -61.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.7% | 55.1% | 55.7% | — |
| Operating margin | 2.3% | 7.1% | 8.5% | — |
| Net margin | 1.5% | 4.7% | 5.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 104.9 | 26.9 | 17.3 | 12.2 |
| Price to sales | 0.8 | 0.6 | 0.7 | 1.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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