C 
184
+1.10%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥3.85bn
FY2017FY2026
Net income
¥153.0m
FY2017FY2026
Free cash flow
¥182.0m
FY2017FY2026
Shareholders' equity
¥39.62bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.85bn | ¥4.38bn | ¥4.35bn | ¥3.29bn | ¥2.15bn | ¥1.88bn | ¥1.79bn | ¥1.71bn | ¥1.73bn | ¥1.66bn |
| Research and development | ¥1.00bn | ¥1.06bn | ¥877.0m | ¥735.0m | ¥713.0m | ¥689.0m | ¥812.0m | ¥998.0m | ¥834.0m | ¥901.0m |
| Operating income | −¥1.10bn | −¥1.50bn | −¥1.74bn | −¥1.35bn | −¥1.05bn | −¥876.0m | −¥1.16bn | −¥1.23bn | −¥1.02bn | −¥1.19bn |
| Net income | ¥153.0m | −¥577.0m | −¥1.48bn | −¥298.0m | −¥498.0m | −¥59.0m | −¥152.0m | −¥632.0m | −¥673.0m | −¥676.0m |
| Diluted earnings per share | 0.72 | -2.73 | -6.99 | -1.41 | -2.31 | -0.27 | -0.71 | -2.94 | -3.13 | -3.14 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥49.08bn | ¥48.55bn | ¥50.00bn | ¥50.19bn | ¥49.47bn | ¥48.12bn | ¥47.81bn | ¥45.75bn | ¥46.60bn | ¥47.71bn |
| Cash and short-term investments | ¥8.99bn | ¥6.82bn | ¥5.16bn | ¥7.80bn | ¥20.83bn | ¥6.70bn | ¥9.64bn | ¥8.80bn | ¥10.82bn | ¥13.38bn |
| Total liabilities | ¥9.47bn | ¥8.95bn | ¥9.52bn | ¥8.20bn | ¥6.02bn | ¥4.33bn | ¥3.55bn | ¥1.54bn | ¥924.0m | ¥976.0m |
| Debt | ¥467.0m | ¥434.0m | ¥632.0m | ¥669.0m | ¥575.0m | ¥421.0m | ¥462.0m | ¥462.0m | — | — |
| Shareholders' equity | ¥39.62bn | ¥39.58bn | ¥40.75bn | ¥42.10bn | ¥43.41bn | ¥43.78bn | ¥44.27bn | ¥44.22bn | ¥45.70bn | ¥46.77bn |
| Shares outstanding | 211m | 211m | 211m | 211m | 215m | 215m | 215m | 215m | 215m | 215m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥195.0m | −¥430.0m | −¥850.0m | −¥143.0m | −¥564.0m | −¥775.0m | −¥215.0m | −¥775.0m | −¥53.0m | ¥575.0m |
| Capital spending | −¥13.0m | −¥296.0m | −¥216.0m | −¥451.0m | −¥1.77bn | −¥1.07bn | −¥399.0m | −¥789.0m | −¥1.13bn | −¥6.60bn |
| Free cash flow | ¥182.0m | −¥726.0m | −¥1.07bn | −¥594.0m | −¥2.33bn | −¥1.84bn | −¥614.0m | −¥1.56bn | −¥1.18bn | −¥6.02bn |
| Dividends paid | — | −¥39.0m | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.03bn | ¥953.0m | ¥930.0m | ¥963.0m | ¥1.00bn | ¥1.22bn | ¥1.03bn | ¥988.0m |
| Operating income | −¥141.0m | −¥447.0m | −¥251.0m | −¥200.0m | −¥204.0m | −¥453.0m | −¥331.0m | −¥427.0m |
| Net income | ¥374.0m | −¥37.0m | ¥119.0m | −¥180.0m | ¥251.0m | −¥193.0m | −¥79.0m | −¥317.0m |
| Diluted earnings per share | 1.77 | -0.18 | 0.56 | -0.85 | 1.19 | -0.91 | -0.37 | -1.50 |
| Cash from operations | ¥121.0m | −¥103.0m | −¥64.0m | −¥62.0m | ¥424.0m | −¥475.0m | ¥117.0m | −¥126.0m |
| Capital spending | −¥2.0m | −¥1.0m | −¥1.0m | −¥5.0m | −¥6.0m | −¥33.0m | −¥78.0m | −¥116.0m |
| Free cash flow | ¥119.0m | −¥104.0m | −¥65.0m | −¥67.0m | ¥418.0m | −¥508.0m | ¥39.0m | −¥242.0m |
| Total assets | ¥49.74bn | ¥49.08bn | ¥49.00bn | ¥48.91bn | ¥48.95bn | ¥48.55bn | ¥49.69bn | ¥49.67bn |
| Cash and short-term investments | ¥13.12bn | ¥8.99bn | ¥9.20bn | ¥4.31bn | ¥5.14bn | ¥6.82bn | ¥4.01bn | ¥4.12bn |
| Debt | ¥182.0m | ¥183.0m | ¥156.0m | ¥174.0m | ¥160.0m | ¥183.0m | ¥237.0m | ¥253.0m |
| Shareholders' equity | ¥40.09bn | ¥39.62bn | ¥39.80bn | ¥39.60bn | ¥39.76bn | ¥39.58bn | ¥40.45bn | ¥40.42bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.4% | 15.5% | 11.8% |
| Operating income | -6.5% | 4.7% | -1.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -31.6% | -35.8% | -38.2% | -48.1% |
| Net margin | -5.2% | -13.8% | -13.8% | -20.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 266.3 | -72.5 | -25.9 | -158.7 | -130.0 | -1290.8 | -1027.6 | -193.0 | -155.0 | -617.5 |
| Price to sales | 10.6 | 9.5 | 8.8 | 14.4 | 30.1 | 40.6 | 87.2 | 71.4 | 60.4 | 251.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 29 Jul 2015
- 5-for-1 split · 29 Jul 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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