P 
300
+0.33%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥1.61bn
FY2017FY2026
Net income
−¥61.1m
FY2017FY2026
Free cash flow
−¥195.8m
FY2017FY2026
Shareholders' equity
¥1.68bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.61bn | ¥1.92bn | ¥5.35bn | ¥7.44bn | ¥5.48bn | ¥4.48bn | ¥3.75bn | ¥4.15bn | ¥4.27bn | ¥4.72bn |
| Research and development | ¥239.4m | ¥302.2m | ¥272.2m | ¥215.2m | ¥227.4m | ¥183.6m | ¥180.1m | ¥170.5m | ¥155.1m | ¥168.7m |
| Operating income | −¥173.8m | −¥49.5m | ¥430.5m | ¥517.9m | ¥510.4m | ¥490.3m | ¥292.8m | ¥433.1m | ¥475.9m | ¥652.6m |
| Net income | −¥61.1m | −¥72.0m | ¥312.9m | ¥355.7m | ¥343.5m | ¥329.1m | ¥222.4m | ¥285.2m | ¥307.0m | ¥369.0m |
| Diluted earnings per share | -15.96 | -18.82 | 71.53 | 81.31 | 78.53 | 75.24 | 50.84 | 65.21 | 70.58 | 96.44 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.81bn | ¥2.30bn | ¥2.80bn | ¥3.05bn | ¥2.82bn | ¥2.71bn | ¥2.46bn | ¥2.47bn | ¥2.44bn | ¥2.76bn |
| Cash and short-term investments | ¥1.15bn | ¥1.44bn | ¥1.82bn | ¥1.31bn | ¥1.30bn | ¥1.42bn | ¥1.40bn | ¥1.55bn | ¥1.52bn | ¥1.55bn |
| Total liabilities | ¥130.0m | ¥171.5m | ¥408.6m | ¥717.8m | ¥505.4m | ¥467.3m | ¥418.6m | ¥389.5m | ¥373.5m | ¥640.7m |
| Debt | — | — | — | — | — | — | ¥79.2m | — | — | ¥109.4m |
| Shareholders' equity | ¥1.68bn | ¥2.13bn | ¥2.39bn | ¥2.33bn | ¥2.31bn | ¥2.24bn | ¥2.05bn | ¥2.08bn | ¥2.06bn | ¥2.12bn |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥156.1m | −¥93.2m | ¥773.8m | ¥478.6m | ¥264.6m | ¥258.8m | ¥226.0m | ¥364.0m | ¥355.0m | ¥557.1m |
| Capital spending | −¥39.7m | −¥80.6m | −¥18.3m | −¥132.6m | −¥116.6m | −¥72.1m | −¥93.0m | −¥55.0m | −¥55.0m | −¥66.4m |
| Free cash flow | −¥195.8m | −¥173.8m | ¥755.5m | ¥346.0m | ¥148.0m | ¥186.8m | ¥133.0m | ¥309.0m | ¥300.0m | ¥490.7m |
| Dividends paid | −¥193,000 | −¥208.6m | −¥254.5m | −¥340.0m | −¥262.5m | −¥165.7m | −¥271.7m | −¥283.0m | −¥358.0m | −¥393.1m |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥294.5m | ¥266.5m | ¥565.0m | ¥410.0m | ¥349.0m | ¥288.9m | ¥671.3m | ¥526.7m |
| Operating income | −¥53.5m | −¥56.6m | ¥36.0m | −¥33.8m | −¥94.1m | −¥81.8m | ¥64.0m | ¥33.7m |
| Net income | −¥85.5m | −¥65.1m | −¥34.0m | −¥35.0m | −¥77.7m | ¥85.5m | ¥48.2m | ¥30.2m |
| Diluted earnings per share | -22.36 | -17.02 | -8.88 | -9.14 | -20.31 | 20.49 | 11.03 | 6.90 |
| Total assets | ¥1.67bn | ¥1.76bn | ¥1.81bn | ¥1.83bn | ¥1.86bn | ¥1.98bn | ¥2.30bn | ¥2.20bn |
| Cash and short-term investments | ¥1.04bn | ¥1.13bn | ¥1.15bn | ¥1.06bn | ¥1.10bn | ¥1.25bn | ¥1.44bn | ¥1.31bn |
| Shareholders' equity | ¥1.53bn | ¥1.61bn | ¥1.68bn | ¥1.72bn | ¥1.75bn | ¥1.83bn | ¥2.13bn | ¥2.07bn |
Financial ratios
Data as of 1 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2012 | FY2010 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -10.8% | -2.6% | 8.0% | 7.0% | 9.3% | 10.9% | — | — | — | — |
| Net margin | -3.8% | -3.8% | 5.8% | 4.8% | 6.3% | 7.3% | — | — | — | — |
| Return on equity | -3.6% | -3.4% | 13.1% | 15.3% | 14.9% | 14.7% | — | — | — | — |
| Return on assets | -3.4% | -3.1% | 11.2% | 11.7% | 12.2% | 12.1% | — | — | — | — |
| Free cash flow yield | -9.9% | -1.1% | 58.8% | 45.4% | 28.3% | 24.6% | — | — | — | — |
| Revenue growth | -15.8% | -64.2% | -28.1% | 35.8% | 22.4% | 19.5% | — | — | — | — |
| Earnings growth | -15.2% | -123.0% | -12.0% | 3.6% | 4.4% | 48.0% | — | — | — | — |
| Current ratio | 14.05x | 14.82x | 6.68x | 3.92x | 5.11x | 5.45x | — | — | — | — |
| Debt to equity | — | — | — | 0.00x | 0.00x | 0.00x | 0.04x | 0.05x | 0.08x | — |
| Equity ratio | 92.8% | 92.5% | 85.4% | 76.4% | 82.1% | 82.8% | — | — | — | — |
| Interest coverage | — | — | — | — | — | — | — | — | — | 5199.78x |
| R&D as a share of sales | 14.8% | 15.8% | 5.1% | 2.9% | 4.1% | 4.1% | — | — | — | — |
| Buybacks as a share of market value | 0.0% | 12.5% | 0.0% | 0.0% | 0.0% | -0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -39.9% | -18.5% | -10.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -6.3% | 4.4% | 6.6% | 8.8% |
| Net margin | -3.8% | 3.3% | 4.6% | 5.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.8 | -21.9 | 7.3 | 12.7 | 16.9 | 14.3 | 25.6 | 20.2 | 19.5 | 20.9 |
| Price to sales | 0.7 | 0.8 | 0.4 | 0.6 | 1.1 | 1.1 | 1.5 | 1.4 | 1.4 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jan 2024.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 48.00 | 58.00 | 78.00 | 60.00 | 38.00 | 62.00 | 65.00 | 82.00 |
- 1.5-for-1 split · 14 Sept 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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