L 
148
+5.71%
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
¥19.85bn
FY2017FY2026
Net income
¥170.2m
FY2017FY2026
Free cash flow
−¥248.4m
FY2017FY2026
Shareholders' equity
¥4.78bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥19.85bn | ¥20.03bn | ¥19.07bn | ¥19.06bn | ¥18.38bn | ¥16.03bn | ¥15.97bn | ¥20.53bn | ¥24.44bn | ¥31.59bn |
| Gross profit | ¥3.00bn | ¥2.90bn | ¥3.15bn | ¥2.69bn | ¥3.36bn | ¥3.50bn | ¥3.36bn | ¥4.18bn | ¥4.86bn | ¥5.67bn |
| Operating income | −¥117.6m | −¥199.9m | ¥98.7m | −¥499.1m | ¥201.5m | ¥236.9m | ¥57.0m | −¥159.1m | −¥84.3m | −¥141.1m |
| Net income | ¥170.2m | −¥187.4m | ¥73.1m | −¥514.9m | −¥293.3m | ¥157.6m | ¥156.0m | −¥370.9m | −¥150.3m | −¥342.3m |
| Diluted earnings per share | 8.21 | -9.04 | 3.53 | -24.84 | -14.16 | 7.63 | 7.55 | -17.94 | -7.68 | -17.36 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥7.13bn | ¥7.07bn | ¥7.26bn | ¥6.73bn | ¥7.63bn | ¥7.65bn | ¥6.95bn | ¥7.13bn | ¥7.82bn | ¥8.47bn |
| Cash and short-term investments | ¥2.15bn | ¥1.66bn | ¥2.32bn | ¥1.73bn | ¥2.20bn | ¥2.83bn | ¥3.44bn | ¥2.75bn | ¥2.97bn | ¥2.58bn |
| Total liabilities | ¥2.08bn | ¥2.21bn | ¥2.22bn | ¥1.82bn | ¥2.18bn | ¥1.88bn | ¥1.35bn | ¥1.80bn | ¥1.99bn | ¥2.39bn |
| Debt | ¥650.9m | ¥686.9m | ¥429.7m | ¥629.9m | ¥683.3m | ¥87.6m | ¥199.2m | ¥300.7m | ¥412.3m | ¥808.9m |
| Shareholders' equity | ¥4.78bn | ¥4.61bn | ¥4.81bn | ¥4.73bn | ¥5.28bn | ¥5.61bn | ¥5.45bn | ¥5.17bn | ¥5.62bn | ¥5.85bn |
| Shares outstanding | 21m | 21m | 21m | 21m | 21m | 21m | 21m | 21m | 20m | 20m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥241.4m | −¥861.2m | ¥875.1m | −¥311.3m | −¥1.05bn | −¥319.6m | ¥762.0m | −¥4.0m | ¥1.01bn | −¥379.0m |
| Capital spending | −¥7.0m | −¥11.9m | −¥93.4m | −¥100.1m | −¥222.1m | −¥162.8m | −¥8.0m | −¥5.0m | −¥18.0m | −¥122.0m |
| Free cash flow | −¥248.4m | −¥873.1m | ¥781.7m | −¥411.3m | −¥1.27bn | −¥482.4m | ¥754.0m | −¥9.0m | ¥989.0m | −¥501.0m |
| Dividends paid | −¥15,000 | −¥20.5m | −¥1.5m | −¥41.3m | −¥41.4m | −¥218,000 | −¥78.4m | −¥78.0m | −¥66.0m | −¥90.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.66bn | ¥5.85bn | ¥4.72bn | ¥5.08bn | ¥4.20bn | ¥5.47bn | ¥4.80bn | ¥5.12bn |
| Gross profit | ¥643.0m | ¥817.9m | ¥714.0m | ¥845.2m | ¥621.7m | ¥755.3m | ¥699.7m | ¥772.0m |
| Operating income | −¥140.8m | ¥72.3m | −¥55.9m | ¥18.8m | −¥152.8m | −¥66.3m | −¥64.0m | ¥14.4m |
| Net income | −¥128.4m | ¥341.9m | −¥86.6m | ¥84.7m | −¥169.9m | −¥96.8m | −¥43.0m | ¥8.0m |
| Diluted earnings per share | -6.20 | 16.49 | -4.18 | 4.09 | -8.20 | -4.67 | -2.07 | 0.39 |
| Total assets | ¥7.00bn | ¥7.13bn | ¥6.38bn | ¥6.71bn | ¥6.79bn | ¥7.07bn | ¥7.37bn | ¥8.19bn |
| Cash and short-term investments | ¥1.95bn | ¥2.15bn | ¥878.8m | ¥1.49bn | ¥1.43bn | ¥1.66bn | ¥1.04bn | ¥1.71bn |
| Debt | ¥630.1m | ¥500.7m | ¥500.0m | ¥633.1m | ¥500.0m | ¥663.3m | ¥500.0m | ¥500.0m |
| Shareholders' equity | ¥4.58bn | ¥4.78bn | ¥4.44bn | ¥4.52bn | ¥4.43bn | ¥4.61bn | ¥4.70bn | ¥4.75bn |
Financial ratios
Data as of 15 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.1% | 14.5% | 16.5% | 14.1% | 18.3% | 21.9% |
| Operating margin | -0.6% | -0.6% | 0.8% | -2.4% | -1.3% | 1.5% |
| Net margin | 0.9% | -0.9% | 0.4% | -2.7% | -1.6% | 1.0% |
| Return on equity | 3.6% | -4.1% | 1.5% | -10.9% | -5.6% | 2.8% |
| Return on assets | 2.4% | -2.6% | 1.0% | -7.6% | -3.8% | 2.1% |
| Free cash flow yield | -6.9% | -24.8% | 28.3% | -6.2% | -24.1% | -4.6% |
| Revenue growth | -0.9% | 5.0% | 0.1% | 3.7% | 14.7% | 0.4% |
| Earnings growth | -190.8% | -356.4% | -114.2% | 75.5% | -286.1% | 1.0% |
| Current ratio | 3.53x | 2.91x | 2.91x | 3.36x | 3.25x | 3.39x |
| Debt to equity | 0.10x | 0.14x | 0.08x | 0.12x | 0.11x | 0.02x |
| Equity ratio | 67.1% | 65.2% | 66.3% | 70.3% | 69.2% | 73.3% |
| Interest coverage | -14.86x | -35.50x | 71.31x | -192.93x | -152.11x | 236.69x |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.0% | -0.1% | -0.2% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.4% | 4.4% | -5.2% |
| Operating income | -38.2% | — | — |
| Net income | — | 1.5% | -6.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.8% | 15.0% | 16.5% | 18.0% |
| Operating margin | -0.8% | -0.9% | -0.2% | -0.1% |
| Net margin | -0.0% | -0.6% | -0.5% | -0.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.3 | -19.6 | 39.4 | -7.4 | -13.3 | 30.0 | 29.9 | -23.8 | -21.7 | -14.1 |
| Price to sales | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.00 | 3.00 | 2.00 | 2.00 | 4.00 | 4.00 | 4.00 | 4.00 |
- 10-to-1 reverse split · 26 Sept 2014
- 1-to-1 reverse split · 10 Mar 2006
- 4-for-1 split · 27 Jan 2005
- 2-for-1 split · 28 Mar 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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