N 
350
-4.63%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥13.36bn
FY2017FY2026
Net income
¥50.0m
FY2017FY2026
Free cash flow
−¥358.0m
FY2017FY2026
Shareholders' equity
¥6.87bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥13.36bn | ¥13.16bn | ¥13.02bn | ¥12.71bn | ¥13.46bn | ¥11.69bn | ¥16.74bn | ¥17.38bn | ¥17.04bn | ¥16.90bn |
| Gross profit | ¥4.87bn | ¥4.86bn | ¥4.72bn | ¥3.87bn | ¥5.15bn | ¥3.69bn | ¥6.23bn | ¥6.50bn | ¥6.09bn | ¥6.13bn |
| Operating income | −¥136.0m | ¥58.0m | ¥23.0m | −¥1.18bn | ¥115.0m | −¥1.81bn | −¥338.0m | ¥337.0m | ¥418.0m | ¥462.0m |
| Net income | ¥50.0m | ¥100.0m | ¥112.0m | −¥1.55bn | ¥124.0m | −¥1.84bn | −¥446.0m | ¥370.0m | ¥567.0m | ¥308.0m |
| Diluted earnings per share | 6.40 | 12.80 | 13.65 | -189.66 | 15.15 | -223.57 | -54.33 | 45.06 | 69.06 | 37.51 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥12.36bn | ¥11.89bn | ¥11.19bn | ¥11.35bn | ¥11.71bn | ¥11.77bn | ¥12.83bn | ¥14.40bn | ¥14.38bn | ¥14.06bn |
| Cash and short-term investments | ¥2.98bn | ¥3.54bn | ¥3.37bn | ¥3.95bn | ¥4.13bn | ¥5.45bn | ¥3.81bn | ¥4.63bn | ¥4.24bn | ¥3.85bn |
| Total liabilities | ¥5.48bn | ¥5.33bn | ¥5.40bn | ¥5.57bn | ¥4.75bn | ¥5.08bn | ¥4.10bn | ¥4.94bn | ¥4.77bn | ¥5.04bn |
| Debt | ¥1.56bn | ¥1.67bn | ¥1.70bn | ¥1.84bn | ¥1.43bn | ¥2.33bn | ¥236.0m | ¥303.0m | ¥374.0m | ¥600.0m |
| Shareholders' equity | ¥6.87bn | ¥6.56bn | ¥5.79bn | ¥5.78bn | ¥6.96bn | ¥6.69bn | ¥8.72bn | ¥9.45bn | ¥9.58bn | ¥8.99bn |
| Shares outstanding | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m | 8m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥283.0m | −¥35.0m | −¥357.0m | −¥528.0m | −¥511.0m | −¥321.0m | −¥1.12bn | ¥402.0m | ¥749.0m | ¥1.14bn |
| Capital spending | −¥75.0m | −¥67.0m | −¥54.0m | −¥114.0m | −¥118.0m | −¥93.0m | −¥157.0m | −¥120.0m | −¥113.0m | −¥57.0m |
| Free cash flow | −¥358.0m | −¥102.0m | −¥411.0m | −¥642.0m | −¥629.0m | −¥414.0m | −¥1.28bn | ¥282.0m | ¥636.0m | ¥1.09bn |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥3.63bn | ¥3.44bn | ¥4.33bn | ¥3.05bn | ¥3.19bn | ¥2.80bn | ¥4.29bn | ¥2.89bn |
| Gross profit | ¥1.22bn | ¥1.08bn | ¥1.61bn | ¥1.13bn | ¥1.13bn | ¥999.0m | ¥1.66bn | ¥1.07bn |
| Operating income | −¥111.0m | −¥201.0m | ¥232.0m | −¥75.0m | −¥117.0m | −¥209.0m | ¥362.0m | −¥94.0m |
| Net income | −¥64.0m | −¥137.0m | ¥438.0m | −¥70.0m | −¥4.0m | −¥314.0m | ¥410.0m | −¥110.0m |
| Diluted earnings per share | -8.19 | -17.53 | 56.05 | -8.96 | -0.51 | -40.18 | 52.47 | -13.41 |
| Total assets | ¥13.24bn | ¥13.44bn | ¥12.36bn | ¥12.15bn | ¥11.04bn | ¥11.26bn | ¥11.89bn | ¥11.20bn |
| Cash and short-term investments | ¥2.88bn | ¥3.29bn | ¥2.98bn | ¥2.81bn | ¥3.11bn | ¥3.36bn | ¥3.54bn | ¥2.61bn |
| Debt | ¥2.22bn | ¥1.88bn | ¥1.56bn | ¥1.48bn | ¥1.60bn | ¥1.18bn | ¥1.20bn | ¥1.20bn |
| Shareholders' equity | ¥7.24bn | ¥6.83bn | ¥6.87bn | ¥6.14bn | ¥6.00bn | ¥5.81bn | ¥6.56bn | ¥5.85bn |
Financial ratios
Data as of 27 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 36.5% | 36.9% | 36.2% | 30.4% | 38.2% | 31.6% |
| Operating margin | -1.0% | 0.4% | 0.2% | -9.3% | -0.7% | -15.5% |
| Net margin | 0.4% | 0.8% | 0.9% | -12.2% | 0.9% | -15.7% |
| Return on equity | 0.7% | 1.5% | 1.9% | -26.8% | 1.8% | -27.4% |
| Return on assets | 0.4% | 0.8% | 1.0% | -13.7% | 1.1% | -15.6% |
| Free cash flow yield | -7.0% | 1.1% | -9.7% | -13.3% | -12.6% | -7.3% |
| Revenue growth | 1.5% | 1.1% | 2.4% | -5.6% | 15.2% | -30.2% |
| Earnings growth | -50.0% | -10.7% | -107.2% | -1351.6% | -106.8% | 311.9% |
| Current ratio | 2.26x | 2.36x | 2.16x | 2.09x | 2.66x | 2.49x |
| Debt to equity | 0.23x | 0.25x | 0.29x | 0.32x | 0.21x | 0.35x |
| Equity ratio | 55.6% | 55.2% | 51.8% | 50.9% | 59.5% | 56.9% |
| Interest coverage | -6.18x | 3.22x | 1.77x | -107.64x | -8.90x | -129.14x |
| Buybacks as a share of market value | 0.0% | 4.7% | -0.2% | 0.0% | 0.4% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.7% | 2.7% | -2.7% |
| Operating income | -51.4% | -40.4% | — |
| Net income | — | — | -5.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.7% | 35.0% | 35.1% | 35.4% |
| Operating margin | -0.3% | -2.4% | -3.8% | -1.2% |
| Net margin | 0.6% | -2.5% | -3.9% | -1.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 57.2 | 23.4 | 17.1 | -1.4 | 17.2 | -1.3 | -6.2 | 10.6 | 7.4 | 15.9 |
| Price to sales | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Jan 1998.
| FY1999 | |
|---|---|
| Paid in the year | 50.00 |
- 10-to-1 reverse split · 27 Jul 2017
- 1.05-for-1 split · 28 Jan 1992
- 21-for-20 split · 28 Jan 1991
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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