E 
732
+0.55%
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
¥516.6m
FY2020FY2026
Net income
−¥2.42bn
FY2020FY2026
Free cash flow
−¥1.19bn
FY2020FY2026
Shareholders' equity
¥1.71bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥516.6m | ¥902.7m | ¥757.5m | ¥2.71bn | ¥1.56bn | ¥1.14bn | ¥704.0m |
| Gross profit | −¥762.6m | −¥635.1m | ¥397.4m | ¥1.82bn | ¥839.2m | ¥469.2m | ¥229.0m |
| Research and development | — | ¥268.7m | ¥204.0m | ¥97.8m | ¥54.3m | ¥33.9m | ¥35.4m |
| Operating income | −¥1.36bn | −¥984.8m | −¥214.0m | ¥1.28bn | ¥520.5m | ¥278.6m | ¥77.0m |
| Net income | −¥2.42bn | −¥2.32bn | −¥111.3m | ¥909.6m | ¥374.8m | ¥253.3m | ¥95.0m |
| Diluted earnings per share | -154.97 | -159.21 | -8.24 | 69.25 | 28.57 | 16.25 | 6.09 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥2.51bn | ¥4.38bn | ¥5.36bn | ¥6.04bn | ¥2.83bn | ¥2.29bn | ¥1.56bn |
| Cash and short-term investments | ¥825.3m | ¥1.44bn | ¥688.2m | ¥2.24bn | ¥1.07bn | ¥948.0m | ¥372.1m |
| Total liabilities | ¥800.7m | ¥958.9m | ¥509.4m | ¥1.11bn | ¥786.5m | ¥652.6m | ¥661.4m |
| Debt | ¥484.5m | ¥638.8m | ¥232.2m | ¥350.1m | ¥439.8m | ¥452.2m | ¥412.2m |
| Shareholders' equity | ¥1.71bn | ¥3.42bn | ¥4.85bn | ¥4.93bn | ¥2.05bn | ¥1.63bn | ¥895.6m |
| Shares outstanding | 16m | 15m | 14m | 13m | 13m | 16m | 16m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −¥968.7m | −¥516.7m | −¥630.7m | ¥1.18bn | ¥635.0m | ¥440.6m | ¥191.9m |
| Capital spending | −¥224.9m | −¥45.8m | −¥828.7m | −¥1.89bn | −¥535.0m | −¥403.6m | −¥434.0m |
| Free cash flow | −¥1.19bn | −¥562.5m | −¥1.46bn | −¥702.4m | ¥100.0m | ¥37.0m | −¥242.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥246.0m | ¥263.3m | ¥115.4m | ¥105.8m | ¥32.0m | ¥248.6m | ¥218.0m | ¥199.0m |
| Gross profit | −¥41.0m | −¥226.7m | −¥284.7m | −¥109.4m | −¥80.0m | −¥183.1m | −¥5.0m | −¥155.0m |
| Operating income | −¥227.5m | −¥406.1m | −¥446.5m | −¥244.0m | −¥263.0m | −¥243.0m | −¥195.0m | −¥372.0m |
| Net income | −¥238.6m | −¥403.9m | −¥1.51bn | −¥228.1m | −¥276.0m | −¥1.59bn | −¥149.0m | −¥414.0m |
| Diluted earnings per share | -15.31 | -25.91 | -103.66 | -15.68 | -18.98 | -109.35 | -11.03 | -30.65 |
| Total assets | ¥3.28bn | ¥2.51bn | ¥2.37bn | ¥3.91bn | ¥4.17bn | ¥4.38bn | ¥5.50bn | ¥4.90bn |
| Cash and short-term investments | ¥1.72bn | ¥825.3m | ¥387.2m | ¥748.4m | ¥1.19bn | ¥1.44bn | ¥1.20bn | ¥678.8m |
| Debt | ¥126.7m | ¥470.2m | ¥146.2m | ¥548.0m | ¥154.9m | ¥628.4m | ¥157.3m | ¥188.2m |
| Shareholders' equity | ¥2.47bn | ¥1.71bn | ¥1.52bn | ¥3.02bn | ¥3.19bn | ¥3.42bn | ¥4.53bn | ¥4.41bn |
Financial ratios
Data as of 21 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | -147.6% | -70.3% | 52.5% | 67.4% | 53.7% | 41.2% | — |
| Operating margin | -263.4% | -109.1% | -28.2% | 47.3% | 33.3% | 24.4% | — |
| Net margin | -467.7% | -256.5% | -14.7% | 33.6% | 24.0% | 22.2% | — |
| Return on equity | -141.3% | -67.7% | -2.3% | 18.4% | 18.3% | 15.5% | — |
| Return on assets | -96.2% | -52.9% | -2.1% | 15.1% | 13.2% | 11.1% | — |
| Free cash flow yield | -4.8% | -3.3% | 1.5% | 23.5% | 9.0% | — | — |
| Revenue growth | -42.8% | 19.2% | -72.0% | 73.3% | 37.0% | 61.9% | — |
| Earnings growth | 4.3% | 1979.8% | -112.2% | 142.7% | 47.9% | 166.7% | — |
| Current ratio | 5.99x | 7.69x | 8.62x | 4.00x | 3.97x | 3.44x | — |
| Debt to equity | 0.28x | 0.18x | 0.05x | 0.07x | 0.22x | 0.28x | — |
| Equity ratio | 68.1% | 78.1% | 90.5% | 81.6% | 72.2% | 71.5% | — |
| Interest coverage | -208.89x | -269.95x | -87.17x | 350.27x | 47.66x | 25.61x | — |
| R&D as a share of sales | — | 29.8% | 26.9% | 3.6% | 3.5% | 3.0% | 5.0% |
| Buybacks as a share of market value | -7.2% | -7.7% | -2.8% | -0.1% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -42.4% | -14.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -98.5% | 16.9% | 28.1% | — |
| Operating margin | -165.2% | -26.2% | -6.3% | — |
| Net margin | -333.4% | -80.5% | -43.6% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | -5.1 | -2.4 | -77.8 | 25.9 | 132.3 |
| Price to sales | 24.2 | 6.2 | 11.5 | 8.9 | 32.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-for-1 split · 30 Mar 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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