K 
816
-1.69%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥12.60bn
FY2019FY2026
Net income
¥92.0m
FY2019FY2026
Free cash flow
−¥82.9m
FY2019FY2026
Shareholders' equity
¥2.08bn
FY2019FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥12.60bn | ¥10.29bn | ¥7.57bn | ¥6.04bn | ¥4.81bn | ¥4.72bn | ¥4.01bn | ¥3.43bn |
| Gross profit | ¥2.75bn | ¥2.34bn | ¥1.82bn | ¥1.35bn | ¥1.15bn | ¥1.17bn | ¥894.7m | ¥692.1m |
| Operating income | ¥184.5m | ¥163.3m | ¥328.7m | ¥301.5m | ¥103.6m | ¥257.5m | ¥162.1m | −¥98.8m |
| Net income | ¥92.0m | ¥90.8m | ¥230.0m | ¥185.0m | ¥66.1m | ¥205.5m | ¥133.5m | −¥135.8m |
| Diluted earnings per share | 12.16 | 12.16 | 33.33 | 26.70 | 9.52 | 29.69 | 20.36 | -17.95 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.69bn | ¥4.03bn | ¥3.24bn | ¥2.22bn | ¥1.48bn | ¥1.52bn | ¥855.5m | ¥744.8m |
| Cash and short-term investments | ¥1.56bn | ¥832.7m | ¥975.4m | ¥1.13bn | ¥740.3m | ¥947.7m | ¥344.8m | ¥317.4m |
| Total liabilities | ¥3.62bn | ¥2.34bn | ¥1.96bn | ¥1.18bn | ¥634.8m | ¥732.1m | ¥567.1m | ¥589.9m |
| Debt | ¥1.03bn | ¥591.0m | ¥573.4m | ¥238.6m | ¥105.1m | ¥158.7m | ¥119.6m | ¥210.2m |
| Shareholders' equity | ¥2.08bn | ¥1.69bn | ¥1.28bn | ¥1.05bn | ¥848.9m | ¥788.8m | ¥288.4m | ¥154.9m |
| Shares outstanding | 8m | 7m | 7m | 7m | 7m | 7m | 7m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥217.3m | ¥51.7m | ¥149.1m | ¥327.8m | −¥15.8m | ¥315.5m | ¥123.4m | −¥108.3m |
| Capital spending | −¥300.1m | −¥377.4m | −¥183.7m | −¥77.8m | −¥79.1m | −¥28.9m | −¥5.1m | −¥20.7m |
| Free cash flow | −¥82.9m | −¥325.6m | −¥34.6m | ¥249.9m | −¥94.9m | ¥286.6m | ¥118.3m | −¥129.0m |
| Dividends paid | — | — | — | −¥200.0m | −¥52.0m | −¥356,000 | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.75bn | ¥3.61bn | ¥3.56bn | ¥2.88bn | ¥2.55bn | ¥2.66bn | ¥2.90bn | ¥2.54bn |
| Gross profit | ¥810.3m | ¥880.3m | ¥830.2m | ¥594.8m | ¥521.3m | ¥601.8m | ¥703.7m | ¥569.8m |
| Operating income | ¥121.1m | ¥177.1m | ¥140.6m | −¥10.5m | −¥131.1m | ¥19.3m | ¥169.3m | ¥2.9m |
| Net income | ¥65.4m | ¥108.3m | ¥84.8m | −¥12.1m | −¥89.0m | −¥2.5m | ¥123.7m | −¥11.5m |
| Diluted earnings per share | 8.65 | 14.31 | 11.35 | -1.62 | -11.91 | -0.33 | 17.92 | -1.66 |
| Cash from operations | — | ¥168.0m | ¥168.0m | −¥59.0m | — | — | — | — |
| Capital spending | — | −¥57.0m | −¥58.0m | −¥91.0m | — | — | — | — |
| Free cash flow | — | ¥111.0m | ¥110.0m | −¥150.0m | — | — | — | — |
| Total assets | ¥5.64bn | ¥5.69bn | ¥5.26bn | ¥4.61bn | ¥3.83bn | ¥4.03bn | ¥3.67bn | ¥3.23bn |
| Cash and short-term investments | ¥1.43bn | ¥1.56bn | ¥1.35bn | ¥983.0m | ¥698.5m | ¥832.7m | ¥535.3m | ¥478.4m |
| Debt | ¥441.1m | ¥1.06bn | ¥411.1m | ¥967.7m | ¥348.8m | ¥591.0m | ¥398.6m | ¥474.2m |
| Shareholders' equity | ¥2.15bn | ¥2.08bn | ¥1.96bn | ¥1.63bn | ¥1.61bn | ¥1.69bn | ¥1.37bn | ¥1.25bn |
Financial ratios
Data as of 12 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.8% | 22.7% | 24.0% | 22.4% | 24.0% | 24.8% |
| Operating margin | 1.4% | 1.6% | 4.3% | 5.0% | 2.2% | 5.5% |
| Net margin | 0.7% | 0.9% | 3.0% | 3.1% | 1.4% | 4.4% |
| Return on equity | 4.4% | 5.4% | 18.0% | 17.7% | 7.8% | 26.1% |
| Return on assets | 1.6% | 2.3% | 7.1% | 8.3% | 4.5% | 13.5% |
| Free cash flow yield | 3.5% | 0.8% | 2.6% | 5.8% | -0.3% | 5.5% |
| Revenue growth | 22.4% | 36.1% | 25.2% | 25.7% | 1.8% | 17.8% |
| Earnings growth | 1.3% | -60.5% | 24.3% | 179.9% | -67.8% | 53.9% |
| Current ratio | 1.19x | 1.13x | 1.42x | 1.84x | 2.15x | 2.19x |
| Debt to equity | 0.51x | 0.35x | 0.45x | 0.23x | 0.12x | 0.20x |
| Equity ratio | 36.5% | 41.9% | 39.5% | 47.1% | 57.2% | 51.9% |
| Interest coverage | 16.65x | 54.95x | 232.28x | 286.89x | 83.78x | 142.59x |
| Buybacks as a share of market value | -1.3% | -8.2% | 0.4% | 0.2% | -0.3% | -5.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.8% | 21.7% | — |
| Operating income | -15.1% | -6.5% | — |
| Net income | -20.8% | -14.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.2% | 22.6% | 23.0% | — |
| Operating margin | 1.5% | 2.7% | 2.9% | — |
| Net margin | 0.8% | 1.6% | 1.9% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 69.5 | 65.2 | 33.0 | 26.2 | 157.0 | 37.3 | 49.5 |
| Price to sales | 0.5 | 0.6 | 1.0 | 0.8 | 2.2 | 1.6 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-for-1 split · 30 Oct 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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