B 
48
0.00%
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
¥2.96bn
FY2017FY2026
Net income
−¥537.3m
FY2017FY2026
Free cash flow
−¥421.1m
FY2017FY2026
Shareholders' equity
¥4.00bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.96bn | ¥3.10bn | ¥3.69bn | ¥3.87bn | ¥3.70bn | ¥3.78bn | ¥5.55bn | ¥6.67bn | ¥7.70bn | ¥7.49bn |
| Gross profit | ¥983.2m | ¥999.9m | ¥1.10bn | ¥1.19bn | ¥1.12bn | ¥973.2m | ¥1.70bn | ¥1.60bn | ¥2.43bn | ¥2.40bn |
| Operating income | −¥462.0m | −¥355.2m | −¥190.6m | −¥116.1m | −¥174.0m | −¥800.4m | −¥207.0m | −¥437.8m | ¥68.3m | ¥409.0m |
| Net income | −¥537.3m | −¥407.3m | ¥19.4m | −¥78.1m | −¥208.0m | −¥810.0m | −¥144.0m | −¥465.8m | ¥100.4m | ¥86.8m |
| Diluted earnings per share | -8.10 | -7.23 | 0.35 | -1.39 | -3.70 | -14.40 | -2.56 | -8.28 | 1.80 | 1.53 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥4.64bn | ¥3.33bn | ¥3.80bn | ¥3.69bn | ¥3.82bn | ¥4.04bn | ¥5.11bn | ¥5.72bn | ¥6.37bn | ¥4.46bn |
| Cash and short-term investments | ¥3.02bn | ¥474.7m | ¥420.3m | ¥977.4m | ¥1.04bn | ¥2.23bn | ¥2.35bn | — | — | — |
| Total liabilities | ¥637.0m | ¥654.8m | ¥740.7m | ¥668.1m | ¥731.5m | ¥763.9m | ¥984.0m | ¥1.48bn | ¥1.62bn | ¥1.64bn |
| Debt | — | — | — | — | — | — | — | — | ¥8.0m | ¥257.8m |
| Shareholders' equity | ¥4.00bn | ¥2.68bn | ¥3.06bn | ¥3.03bn | ¥3.09bn | ¥3.28bn | ¥4.08bn | ¥4.24bn | ¥4.75bn | ¥2.82bn |
| Shares outstanding | 66m | 56m | 56m | 56m | 56m | 56m | 56m | 56m | 56m | 57m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥414.6m | −¥330.4m | ¥75.0m | −¥261.3m | −¥223.4m | −¥124.1m | −¥105.0m | ¥134.0m | −¥480.0m | ¥120.0m |
| Capital spending | −¥6.5m | −¥18.9m | −¥12.8m | −¥14.2m | −¥75,000 | −¥7.4m | −¥4.0m | −¥21.0m | −¥5.0m | −¥5.0m |
| Free cash flow | −¥421.1m | −¥349.3m | ¥62.2m | −¥275.5m | −¥223.5m | −¥131.4m | −¥109.0m | ¥113.0m | −¥485.0m | ¥115.0m |
| Dividends paid | — | — | — | — | — | −¥11,000 | −¥33,000 | −¥20.0m | −¥105.0m | −¥91.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥670.1m | ¥687.8m | ¥818.4m | ¥721.5m | ¥731.3m | ¥728.7m | ¥840.0m | ¥746.0m |
| Gross profit | ¥247.5m | ¥223.8m | ¥291.4m | ¥226.8m | ¥241.3m | ¥226.5m | ¥277.0m | ¥237.0m |
| Operating income | −¥129.4m | ¥222.9m | −¥88.6m | −¥102.8m | −¥91.0m | −¥105.3m | −¥63.0m | −¥111.0m |
| Net income | −¥147.4m | −¥175.4m | −¥121.6m | −¥166.5m | −¥73.9m | −¥196.8m | −¥47.0m | −¥107.0m |
| Diluted earnings per share | -2.22 | -2.64 | -2.16 | -2.96 | -1.31 | -3.49 | -0.84 | -1.90 |
| Total assets | ¥5.86bn | ¥4.64bn | ¥3.52bn | ¥3.06bn | ¥3.25bn | ¥3.33bn | ¥3.58bn | ¥3.52bn |
| Cash and short-term investments | ¥1.01bn | ¥3.02bn | ¥948.6m | ¥451.8m | ¥357.1m | ¥474.7m | ¥557.0m | ¥670.0m |
| Shareholders' equity | ¥5.19bn | ¥4.00bn | ¥2.71bn | ¥2.42bn | ¥2.59bn | ¥2.68bn | ¥2.86bn | ¥2.93bn |
Financial ratios
Data as of 2 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 33.2% | 32.3% | 29.9% | 30.9% | 30.3% | 25.8% | — | — | — |
| Operating margin | -15.6% | -11.5% | -5.2% | -3.0% | -4.7% | -21.2% | — | — | — |
| Net margin | -18.2% | -13.1% | 0.5% | -2.0% | -5.6% | -21.4% | — | — | — |
| Return on equity | -13.4% | -15.2% | 0.6% | -2.6% | -6.7% | -24.7% | — | — | — |
| Return on assets | -11.6% | -12.2% | 0.5% | -2.1% | -5.4% | -20.0% | — | — | — |
| Free cash flow yield | -8.1% | -7.3% | 2.1% | -5.8% | -5.2% | -2.7% | — | — | — |
| Revenue growth | -4.5% | -16.1% | -4.5% | 4.5% | -2.0% | -31.9% | — | — | — |
| Earnings growth | 31.9% | -2196.8% | -124.9% | -62.5% | -74.3% | 462.5% | — | — | — |
| Current ratio | 7.31x | 4.96x | 5.05x | 5.45x | 5.15x | 5.26x | — | — | — |
| Debt to equity | — | — | — | 0.00x | 0.00x | 0.00x | 0.00x | 0.09x | 0.04x |
| Equity ratio | 86.3% | 80.3% | 80.5% | 81.9% | 80.9% | 81.1% | — | — | — |
| Interest coverage | -2817.17x | -2352.13x | -506.88x | -341.48x | -865.51x | -1293.00x | — | — | — |
| Buybacks as a share of market value | -17.7% | -0.1% | -0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.5% | -4.8% | -8.8% |
| Operating income | 58.5% | -10.4% | — |
| Net income | 90.2% | -7.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.7% | 31.4% | 30.2% | 30.2% |
| Operating margin | -13.5% | -8.3% | -9.9% | -3.9% |
| Net margin | -15.6% | -7.4% | -9.6% | -4.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.5 | -31.5 | 121.6 | -34.6 | -14.6 | -4.0 | -25.8 | -10.9 | 41.1 | 264.4 |
| Price to sales | 1.2 | 4.1 | 0.6 | 0.7 | 0.8 | 0.9 | 0.7 | 0.8 | 0.5 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Mar 2018.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.35 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 2.00 | 2.00 |
- 2-to-1 reverse split · 28 Sept 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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