S 
90
+3.45%
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
¥4.30bn
FY2016FY2025
Net income
−¥221.7m
FY2016FY2025
Free cash flow
−¥34.0m
FY2016FY2025
Shareholders' equity
¥1.04bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.30bn | ¥4.68bn | ¥4.56bn | ¥5.03bn | ¥5.39bn | ¥4.80bn | ¥5.33bn | ¥5.40bn | ¥5.69bn | ¥5.98bn |
| Gross profit | ¥1.40bn | ¥1.35bn | ¥1.29bn | ¥1.60bn | ¥1.70bn | ¥1.44bn | ¥1.46bn | ¥1.44bn | ¥1.56bn | ¥1.73bn |
| Research and development | — | ¥119.0m | ¥132.0m | ¥111.0m | ¥102.0m | ¥89.0m | ¥95.0m | — | ¥85.0m | ¥97.0m |
| Operating income | −¥198.7m | −¥270.1m | −¥341.7m | −¥153.5m | ¥111.0m | −¥75.2m | −¥21.0m | −¥71.0m | ¥16.1m | ¥47.1m |
| Net income | −¥221.7m | −¥1.15bn | −¥1.51bn | −¥193.9m | ¥53.6m | −¥136.8m | −¥139.0m | −¥90.7m | ¥99.9m | −¥24.1m |
| Diluted earnings per share | -7.48 | -38.65 | -50.94 | -6.54 | 3.67 | -9.37 | -9.52 | -6.44 | 7.89 | -0.81 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.33bn | ¥4.76bn | ¥5.55bn | ¥7.22bn | ¥7.18bn | ¥6.94bn | ¥5.01bn | ¥5.17bn | ¥4.80bn | ¥5.13bn |
| Cash and short-term investments | ¥534.1m | ¥579.8m | ¥656.1m | ¥1.18bn | ¥2.47bn | ¥2.84bn | ¥1.25bn | ¥1.17bn | ¥775.8m | ¥1.06bn |
| Total liabilities | ¥3.28bn | ¥3.50bn | ¥3.16bn | ¥3.30bn | ¥5.07bn | ¥4.89bn | ¥2.82bn | ¥2.85bn | ¥2.97bn | ¥3.29bn |
| Debt | ¥1.91bn | ¥1.93bn | ¥1.53bn | ¥1.22bn | ¥3.02bn | ¥3.03bn | ¥1.02bn | ¥1.03bn | ¥1.04bn | ¥1.20bn |
| Shareholders' equity | ¥1.04bn | ¥1.26bn | ¥2.39bn | ¥3.92bn | ¥2.11bn | ¥2.05bn | ¥2.20bn | ¥2.33bn | ¥1.83bn | ¥1.78bn |
| Shares outstanding | 30m | 30m | 30m | 30m | 15m | 15m | 15m | 14m | 13m | 30m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥34.7m | −¥405.5m | −¥436.0m | −¥279.1m | ¥166.8m | −¥179.5m | ¥112.0m | −¥164.0m | −¥33.0m | −¥143.0m |
| Capital spending | −¥68.7m | −¥75.3m | −¥430.3m | −¥1.18bn | −¥572.6m | −¥195.0m | −¥38.0m | −¥39.0m | −¥63.0m | −¥111.4m |
| Free cash flow | −¥34.0m | −¥480.8m | −¥866.3m | −¥1.46bn | −¥405.8m | −¥374.5m | ¥74.0m | −¥203.0m | −¥96.0m | −¥254.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥992.2m | ¥1.30bn | ¥1.23bn | ¥949.6m | ¥981.3m | ¥1.14bn | ¥1.49bn | ¥1.09bn |
| Gross profit | ¥327.5m | ¥469.1m | ¥412.0m | ¥310.9m | ¥295.1m | ¥382.9m | ¥485.0m | ¥360.8m |
| Operating income | −¥63.2m | ¥37.4m | ¥8.9m | −¥88.2m | −¥91.6m | −¥27.8m | ¥61.0m | −¥51.0m |
| Net income | −¥75.2m | ¥24.8m | ¥2.7m | −¥94.2m | −¥90.1m | −¥40.1m | −¥834.0m | −¥66.3m |
| Diluted earnings per share | -2.54 | 0.84 | 0.09 | -3.18 | -3.04 | -1.35 | -28.13 | -2.24 |
| Total assets | ¥4.16bn | ¥4.28bn | ¥4.33bn | ¥4.22bn | ¥4.44bn | ¥4.55bn | ¥4.76bn | ¥5.47bn |
| Cash and short-term investments | ¥664.8m | ¥667.0m | ¥534.1m | ¥453.6m | ¥601.4m | ¥506.3m | ¥579.8m | ¥649.6m |
| Debt | ¥1.84bn | ¥1.82bn | ¥1.89bn | ¥1.81bn | ¥1.94bn | ¥1.81bn | ¥1.71bn | ¥1.71bn |
| Shareholders' equity | ¥996.1m | ¥1.07bn | ¥1.04bn | ¥1.03bn | ¥1.11bn | ¥1.21bn | ¥1.26bn | ¥2.08bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 32.6% | 28.8% | 28.3% | 31.9% | 31.5% | 30.0% | — |
| Operating margin | -4.6% | -23.7% | -33.1% | -3.1% | 2.1% | -1.9% | — |
| Net margin | -5.2% | -24.5% | -33.1% | -3.9% | 1.0% | -2.9% | — |
| Return on equity | -21.3% | -91.1% | -63.2% | -4.9% | 2.5% | -6.7% | — |
| Return on assets | -5.1% | -24.1% | -27.2% | -2.7% | 0.7% | -2.0% | — |
| Free cash flow yield | 3.5% | -11.1% | -0.2% | 30.5% | 50.6% | 1.1% | — |
| Revenue growth | -8.0% | 2.6% | -9.4% | -6.7% | 12.3% | -9.9% | — |
| Earnings growth | -80.6% | -24.1% | 678.6% | -461.7% | -139.2% | -1.6% | — |
| Current ratio | 1.43x | 1.59x | 1.83x | 2.13x | 2.66x | 2.95x | — |
| Debt to equity | 1.81x | 1.50x | 0.62x | 0.30x | 1.43x | 1.47x | — |
| Equity ratio | 24.0% | 26.4% | 43.0% | 54.3% | 29.4% | 29.5% | — |
| Interest coverage | -6.80x | -50.58x | -83.08x | -8.57x | 5.15x | -1.73x | — |
| R&D as a share of sales | — | 2.5% | 2.9% | 2.2% | 1.9% | 1.9% | 1.8% |
| Buybacks as a share of market value | -0.0% | 0.0% | 0.0% | -103.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.1% | -2.2% | -3.5% |
| Operating income | 9.0% | 21.4% | 15.3% |
| Net income | 4.6% | 10.1% | 3.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.6% | 30.4% | 30.5% | 29.0% |
| Operating margin | -5.2% | -5.2% | -3.2% | -1.8% |
| Net margin | -15.2% | -16.5% | -11.0% | -6.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.4 | -2.6 | -2.6 | -23.9 | 46.3 | -14.7 | -19.1 | -20.7 | 31.5 | -393.4 |
| Price to sales | 0.8 | 0.7 | 0.9 | 0.9 | 0.5 | 0.4 | 0.5 | 0.3 | 0.6 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Dec 2004.
| FY2004 | FY2001 | FY2000 | |
|---|---|---|---|
| Paid in the year | 25.00 | 50.00 | 50.00 |
- 10-to-1 reverse split · 28 Jun 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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