I 
1,876
+18.51%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥17.94bn
FY2016FY2025
Net income
¥1.94bn
FY2016FY2025
Free cash flow
¥2.45bn
FY2016FY2025
Shareholders' equity
¥11.88bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥17.94bn | ¥15.34bn | ¥13.73bn | ¥11.89bn | ¥11.58bn | ¥11.34bn | ¥12.35bn | ¥11.04bn | ¥10.90bn | ¥10.37bn |
| Gross profit | ¥6.59bn | ¥5.66bn | ¥4.51bn | ¥3.89bn | ¥3.55bn | ¥2.86bn | ¥3.46bn | ¥3.60bn | ¥3.60bn | ¥3.40bn |
| Research and development | ¥792.0m | ¥734.4m | ¥704.0m | ¥774.7m | ¥392.6m | ¥463.4m | ¥447.3m | ¥437.2m | ¥511.6m | ¥487.0m |
| Operating income | ¥2.34bn | ¥1.85bn | ¥1.24bn | ¥825.0m | ¥1.09bn | ¥359.7m | ¥730.3m | ¥875.3m | ¥1.17bn | ¥1.10bn |
| Net income | ¥1.94bn | ¥1.43bn | ¥1.13bn | ¥1.07bn | ¥937.3m | ¥316.8m | ¥366.9m | ¥578.2m | ¥942.7m | ¥583.1m |
| Diluted earnings per share | 121.60 | 89.83 | 69.01 | 65.42 | 57.52 | 19.45 | 22.62 | 35.64 | 58.16 | 35.73 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥23.39bn | ¥19.36bn | ¥17.36bn | ¥17.03bn | ¥17.22bn | ¥16.30bn | ¥15.28bn | ¥15.46bn | ¥13.18bn | ¥11.70bn |
| Cash and short-term investments | ¥4.88bn | ¥2.80bn | ¥2.18bn | ¥3.52bn | ¥3.88bn | ¥3.07bn | ¥1.14bn | ¥1.67bn | ¥2.04bn | ¥1.71bn |
| Total liabilities | ¥11.51bn | ¥9.16bn | ¥8.11bn | ¥8.75bn | ¥9.69bn | ¥9.60bn | ¥8.78bn | ¥9.06bn | ¥7.18bn | ¥6.63bn |
| Debt | ¥3.49bn | ¥3.39bn | ¥3.34bn | ¥4.28bn | ¥5.22bn | ¥6.19bn | ¥4.16bn | ¥4.59bn | ¥2.90bn | ¥2.97bn |
| Shareholders' equity | ¥11.88bn | ¥10.22bn | ¥9.24bn | ¥8.28bn | ¥7.51bn | ¥6.70bn | ¥6.50bn | ¥6.26bn | ¥5.85bn | ¥5.07bn |
| Shares outstanding | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥3.85bn | ¥2.01bn | ¥103.8m | ¥742.2m | ¥2.10bn | ¥500.4m | ¥798.3m | −¥34.0m | ¥1.20bn | ¥784.6m |
| Capital spending | −¥1.40bn | −¥981.0m | −¥342.2m | −¥383.4m | −¥160.8m | −¥519.9m | −¥805.0m | −¥1.77bn | −¥582.9m | −¥572.0m |
| Free cash flow | ¥2.45bn | ¥1.03bn | −¥238.4m | ¥358.8m | ¥1.94bn | −¥19.5m | −¥6.7m | −¥1.81bn | ¥618.3m | ¥212.6m |
| Dividends paid | −¥319.0m | −¥195.3m | −¥162.5m | −¥162.2m | −¥144.4m | −¥134.4m | −¥127.5m | −¥162.0m | −¥114.1m | −¥106.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.00bn | ¥6.67bn | ¥4.84bn | ¥5.20bn | ¥3.21bn | ¥5.89bn | ¥3.63bn | ¥4.69bn |
| Gross profit | ¥1.30bn | ¥2.59bn | ¥1.89bn | ¥2.06bn | ¥1.21bn | ¥2.15bn | ¥1.31bn | ¥1.76bn |
| Operating income | ¥114.0m | ¥1.30bn | ¥568.0m | ¥696.0m | ¥140.0m | ¥1.13bn | ¥351.0m | ¥523.9m |
| Net income | ¥83.0m | ¥932.0m | ¥530.0m | ¥555.0m | ¥186.0m | ¥774.0m | ¥420.0m | ¥215.2m |
| Diluted earnings per share | 5.21 | 58.46 | 33.31 | 34.88 | 11.69 | 48.64 | 26.41 | 13.53 |
| Cash from operations | — | — | — | ¥3.85bn | — | — | — | — |
| Capital spending | — | — | — | −¥1.40bn | — | — | — | — |
| Free cash flow | — | — | — | ¥2.45bn | — | — | — | — |
| Total assets | ¥25.40bn | ¥25.10bn | ¥24.31bn | ¥23.39bn | ¥21.50bn | ¥21.74bn | ¥20.94bn | ¥19.36bn |
| Cash and short-term investments | ¥7.23bn | ¥6.27bn | ¥4.17bn | ¥4.88bn | ¥3.93bn | ¥2.98bn | ¥2.40bn | ¥2.80bn |
| Debt | ¥2.50bn | ¥3.17bn | ¥2.51bn | ¥3.40bn | ¥2.83bn | ¥3.82bn | ¥3.14bn | ¥3.16bn |
| Shareholders' equity | ¥13.15bn | ¥13.03bn | ¥12.00bn | ¥11.88bn | ¥11.31bn | ¥11.12bn | ¥10.37bn | ¥10.22bn |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 36.7% | 36.9% | 32.8% | 32.7% | 30.7% | 25.2% |
| Operating margin | 13.0% | 12.0% | 9.1% | 6.9% | 9.4% | 3.2% |
| Net margin | 10.8% | 9.3% | 8.2% | 9.0% | 8.1% | 2.8% |
| Return on equity | 16.3% | 14.0% | 12.2% | 12.9% | 12.5% | 4.7% |
| Return on assets | 8.3% | 7.4% | 6.5% | 6.3% | 5.4% | 1.9% |
| Free cash flow yield | 16.0% | 9.1% | 1.3% | 3.4% | 6.7% | 3.0% |
| Revenue growth | 17.0% | 11.7% | 15.5% | 2.7% | 2.1% | -8.2% |
| Earnings growth | 35.4% | 26.9% | 5.7% | 13.7% | 195.8% | -13.6% |
| Current ratio | 1.60x | 1.55x | 1.65x | 1.52x | 1.52x | 1.62x |
| Debt to equity | 0.29x | 0.33x | 0.36x | 0.52x | 0.69x | 0.92x |
| Equity ratio | 50.8% | 52.8% | 53.3% | 48.6% | 43.6% | 41.1% |
| Interest coverage | 63.19x | 98.56x | 72.71x | 40.80x | 43.87x | 15.56x |
| R&D as a share of sales | 4.4% | 4.8% | 5.1% | 6.5% | 3.4% | 4.1% |
| Buybacks as a share of market value | -0.0% | 2.5% | -0.2% | 0.0% | 0.0% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.7% | 9.6% | 6.9% |
| Operating income | 41.5% | 45.4% | 5.4% |
| Net income | 22.0% | 43.6% | 7.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.8% | 35.0% | 33.1% | 32.9% |
| Operating margin | 12.6% | 10.6% | 9.4% | 9.6% |
| Net margin | 10.1% | 9.4% | 8.3% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.1 | 14.5 | 7.5 | 6.5 | 10.8 | 31.3 | 18.0 | 9.4 | 10.7 | 10.4 |
| Price to sales | 1.9 | 1.4 | 0.6 | 0.6 | 0.9 | 0.9 | 0.5 | 0.5 | 0.9 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 21 years. Last went ex-dividend on 29 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 60.00 | 20.00 | 12.00 | 10.00 | 10.00 | 8.50 | 8.50 | 8.00 |
- 2-for-1 split · 27 Dec 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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