P 
800
+1.01%
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
¥7.42bn
FY2020FY2026
Net income
−¥269.9m
FY2020FY2026
Free cash flow
−¥102.8m
FY2020FY2026
Shareholders' equity
¥1.01bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥7.42bn | ¥9.03bn | ¥9.91bn | ¥10.03bn | ¥9.65bn | ¥9.46bn | ¥8.13bn |
| Gross profit | ¥2.27bn | ¥2.81bn | ¥2.77bn | ¥2.85bn | ¥2.57bn | ¥2.58bn | ¥2.05bn |
| Research and development | — | ¥15.3m | ¥5.9m | ¥24.5m | ¥11.1m | ¥6.3m | ¥46.0m |
| Operating income | −¥204.1m | ¥228.5m | ¥247.1m | ¥236.1m | ¥165.1m | ¥99.9m | −¥4.0m |
| Net income | −¥269.9m | ¥128.3m | ¥172.3m | ¥153.3m | ¥105.1m | ¥71.1m | ¥15.2m |
| Diluted earnings per share | -143.15 | 68.25 | 92.03 | 80.63 | 56.31 | 37.73 | 8.08 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥3.16bn | ¥3.31bn | ¥3.30bn | ¥3.08bn | ¥2.49bn | ¥2.30bn | ¥2.14bn |
| Cash and short-term investments | ¥838.7m | ¥1.26bn | ¥901.4m | ¥844.1m | ¥782.9m | ¥862.0m | ¥851.5m |
| Total liabilities | ¥2.12bn | ¥2.09bn | ¥2.18bn | ¥2.14bn | ¥2.04bn | ¥1.95bn | ¥1.86bn |
| Debt | ¥1.12bn | ¥1.11bn | ¥763.4m | ¥874.3m | ¥884.2m | ¥736.3m | ¥952.7m |
| Shareholders' equity | ¥1.01bn | ¥1.23bn | ¥1.12bn | ¥935.4m | ¥454.8m | ¥349.3m | ¥278.2m |
| Shares outstanding | 2m | 2m | 2m | 2m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥47.0m | ¥89.4m | ¥163.5m | −¥244.3m | −¥220.7m | ¥242.6m | −¥58.5m |
| Capital spending | −¥55.8m | −¥2.5m | −¥3.2m | −¥11.2m | −¥5.5m | −¥11.9m | −¥3.6m |
| Free cash flow | −¥102.8m | ¥86.9m | ¥160.2m | −¥255.5m | −¥226.1m | ¥230.6m | −¥62.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.65bn | ¥1.73bn | ¥1.88bn | ¥1.84bn | ¥1.97bn | ¥2.00bn | ¥2.50bn | ¥2.27bn |
| Gross profit | ¥538.8m | ¥542.7m | ¥612.6m | ¥529.1m | ¥589.6m | ¥619.8m | ¥880.8m | ¥672.0m |
| Operating income | −¥8.4m | −¥85.8m | ¥9.7m | −¥92.8m | −¥35.3m | −¥42.3m | ¥180.8m | ¥57.2m |
| Net income | −¥36.2m | −¥154.9m | −¥9.9m | −¥65.1m | −¥40.0m | −¥45.2m | ¥120.2m | ¥32.7m |
| Diluted earnings per share | -19.19 | -82.16 | -5.27 | -34.62 | -21.26 | -24.04 | 64.18 | 17.45 |
| Total assets | ¥3.31bn | ¥3.16bn | ¥3.57bn | ¥3.04bn | ¥3.30bn | ¥3.31bn | ¥3.64bn | ¥3.70bn |
| Cash and short-term investments | ¥790.5m | ¥838.7m | ¥855.8m | ¥835.6m | ¥980.3m | ¥1.26bn | ¥1.01bn | ¥865.2m |
| Debt | ¥1.07bn | ¥1.12bn | ¥1.07bn | ¥997.7m | ¥808.2m | ¥1.11bn | ¥1.16bn | ¥1.50bn |
| Shareholders' equity | ¥974.5m | ¥1.01bn | ¥1.16bn | ¥1.17bn | ¥1.23bn | ¥1.23bn | ¥1.30bn | ¥1.19bn |
Financial ratios
Data as of 1 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 30.6% | 31.1% | 27.9% | 28.4% | 26.7% | 27.3% | — |
| Operating margin | -2.8% | 2.5% | 2.5% | 2.4% | 1.7% | 1.1% | — |
| Net margin | -3.6% | 1.4% | 1.7% | 1.5% | 1.1% | 0.8% | — |
| Return on equity | -26.7% | 10.5% | 15.3% | 16.4% | 23.1% | 20.4% | — |
| Return on assets | -8.5% | 3.9% | 5.2% | 5.0% | 4.2% | 3.1% | — |
| Free cash flow yield | -3.1% | 6.0% | 10.9% | -16.1% | -14.8% | — | — |
| Revenue growth | -17.8% | -8.8% | -1.2% | 3.9% | 2.1% | 16.3% | — |
| Earnings growth | -310.3% | -25.5% | 12.4% | 45.8% | 47.8% | 366.8% | — |
| Current ratio | 1.42x | 1.81x | 1.51x | 1.46x | 1.35x | 1.22x | — |
| Debt to equity | 1.10x | 0.91x | 0.68x | 0.93x | 1.94x | 2.10x | — |
| Equity ratio | 32.0% | 37.0% | 34.0% | 30.4% | 18.2% | 15.2% | — |
| Interest coverage | -11.46x | 17.00x | 33.22x | 32.65x | 22.84x | 15.34x | — |
| R&D as a share of sales | — | 0.2% | 0.1% | 0.2% | 0.1% | 0.1% | 0.6% |
| Buybacks as a share of market value | -0.3% | -0.4% | 1.5% | -1.8% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.6% | -4.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.9% | 29.4% | 28.6% | — |
| Operating margin | 0.1% | 1.4% | 1.4% | — |
| Net margin | -0.9% | 0.5% | 0.6% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | -5.5 | 11.7 | 7.5 | 15.6 | 18.7 |
| Price to sales | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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