B 
381
+5.54%
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
¥1.47bn
FY2019FY2025
Net income
−¥73.7m
FY2019FY2025
Free cash flow
−¥102.8m
FY2019FY2025
Shareholders' equity
¥568.7m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥1.47bn | ¥1.39bn | ¥1.28bn | ¥1.14bn | ¥1.12bn | ¥1.03bn | ¥1.00bn |
| Gross profit | ¥540.1m | ¥528.8m | ¥521.3m | ¥487.1m | ¥504.4m | ¥432.1m | ¥405.4m |
| Operating income | −¥98.0m | −¥17.8m | ¥67.3m | ¥48.3m | ¥130.4m | ¥38.4m | ¥43.0m |
| Net income | −¥73.7m | −¥5.8m | ¥45.2m | ¥32.3m | ¥76.1m | ¥30.8m | ¥51.4m |
| Diluted earnings per share | -21.03 | -1.75 | 13.56 | 9.43 | 22.19 | 7.26 | 12.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥1.02bn | ¥909.4m | ¥915.0m | ¥830.4m | ¥813.3m | ¥467.4m | ¥461.8m |
| Cash and short-term investments | ¥599.2m | ¥577.4m | ¥643.4m | ¥596.6m | ¥614.7m | ¥264.4m | ¥247.2m |
| Total liabilities | ¥449.9m | ¥267.6m | ¥267.7m | ¥217.4m | ¥238.1m | ¥257.7m | ¥282.9m |
| Debt | ¥211.7m | ¥40.0m | ¥42.4m | ¥28.0m | ¥27.0m | ¥82.7m | ¥117.5m |
| Shareholders' equity | ¥568.7m | ¥641.8m | ¥647.3m | ¥613.0m | ¥575.3m | ¥209.6m | ¥178.8m |
| Shares outstanding | 4m | 3m | 3m | 3m | 3m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥94.2m | −¥36.4m | ¥88.2m | −¥627,000 | ¥135.2m | ¥62.1m | ¥68.0m |
| Capital spending | −¥8.7m | −¥8.0m | −¥30.5m | −¥125,000 | −¥1.2m | −¥11.5m | −¥186,000 |
| Free cash flow | −¥102.8m | −¥44.4m | ¥57.7m | −¥752,000 | ¥134.0m | ¥50.6m | ¥67.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥464.3m | ¥485.0m | ¥438.2m | ¥381.5m | ¥355.9m | ¥369.1m | ¥360.9m | ¥354.5m |
| Gross profit | ¥159.8m | ¥150.9m | ¥149.2m | ¥135.1m | ¥129.5m | ¥136.7m | ¥142.8m | ¥136.4m |
| Operating income | −¥39.3m | −¥38.4m | −¥43.1m | −¥37.3m | −¥35.6m | −¥11.0m | −¥14.1m | −¥13.3m |
| Net income | −¥49.8m | −¥37.9m | −¥53.1m | −¥29.2m | −¥23.7m | −¥9.5m | −¥11.3m | −¥11.0m |
| Diluted earnings per share | -11.73 | -8.92 | -15.16 | -8.32 | -6.78 | -2.71 | -3.37 | -3.30 |
| Total assets | ¥1.49bn | ¥1.57bn | ¥1.62bn | ¥1.02bn | ¥939.4m | ¥872.0m | ¥881.0m | ¥909.4m |
| Cash and short-term investments | ¥920.0m | ¥985.0m | ¥1.08bn | ¥599.2m | ¥570.9m | ¥535.7m | ¥535.2m | ¥577.4m |
| Debt | ¥49.0m | ¥188.1m | ¥50.0m | ¥211.7m | ¥30.0m | ¥25.0m | ¥10.0m | ¥20.0m |
| Shareholders' equity | ¥1.02bn | ¥1.07bn | ¥1.10bn | ¥568.7m | ¥597.8m | ¥621.3m | ¥630.7m | ¥641.8m |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 36.8% | 38.2% | 40.7% | 42.6% | 44.9% | 41.9% |
| Operating margin | -7.0% | 0.0% | 4.8% | 3.9% | 10.1% | 3.7% |
| Net margin | -5.0% | -0.4% | 3.5% | 2.8% | 6.8% | 3.0% |
| Return on equity | -13.0% | -0.9% | 7.0% | 5.3% | 13.2% | 14.7% |
| Return on assets | -7.2% | -0.6% | 4.9% | 3.9% | 9.4% | 6.6% |
| Free cash flow yield | -5.0% | -2.0% | 4.9% | -0.0% | 7.3% | — |
| Revenue growth | 5.9% | 8.2% | 12.0% | 1.6% | 9.0% | 2.6% |
| Earnings growth | 1164.9% | -112.9% | 40.1% | -57.6% | 147.2% | -40.1% |
| Current ratio | 2.93x | 3.19x | 3.39x | 3.77x | 3.28x | 1.92x |
| Debt to equity | 0.37x | 0.06x | 0.07x | 0.05x | 0.05x | 0.39x |
| Equity ratio | 55.8% | 70.6% | 70.7% | 73.8% | 70.7% | 44.9% |
| Interest coverage | -136.17x | 0.79x | 132.64x | 132.80x | 226.56x | 42.28x |
| Buybacks as a share of market value | -5.0% | -0.0% | 2.6% | 0.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.7% | 7.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 37.5% | 39.4% | 40.6% | — |
| Operating margin | -4.1% | -0.0% | 2.3% | — |
| Net margin | -2.8% | -0.0% | 1.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -30.0 | -337.8 | 43.7 | 54.9 | 21.6 |
| Price to sales | 1.5 | 1.4 | 1.5 | 1.6 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-for-1 split · 30 Mar 2026
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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