K 
28
-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
¥2.53bn
FY2017FY2026
Net income
−¥98.0m
FY2017FY2026
Free cash flow
¥700.0m
FY2017FY2026
Shareholders' equity
¥1.65bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.53bn | ¥1.76bn | ¥1.28bn | ¥3.55bn | ¥4.24bn | ¥4.71bn | ¥4.92bn | ¥4.04bn | ¥4.33bn | ¥4.20bn |
| Research and development | — | — | — | — | ¥120,000 | — | ¥263,000 | ¥30.5m | — | — |
| Operating income | ¥61.0m | ¥99.0m | ¥9.3m | −¥751.0m | −¥856.3m | −¥437.8m | −¥457.4m | −¥634.2m | −¥387.7m | −¥316.1m |
| Net income | −¥98.0m | −¥46.4m | ¥40.7m | −¥1.13bn | −¥892.9m | −¥416.3m | −¥580.8m | −¥654.4m | −¥469.8m | −¥327.4m |
| Diluted earnings per share | -0.36 | -0.18 | 0.16 | -4.73 | -4.61 | -2.82 | -4.34 | -5.53 | -4.23 | -3.49 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥9.85bn | ¥10.12bn | ¥8.34bn | ¥7.65bn | ¥2.59bn | ¥3.47bn | ¥2.81bn | ¥3.00bn | ¥2.42bn | ¥2.34bn |
| Cash and short-term investments | ¥413.0m | ¥204.3m | ¥467.0m | ¥55.8m | ¥605.1m | ¥505.6m | ¥266.4m | ¥485.8m | ¥356.3m | ¥275.9m |
| Total liabilities | ¥8.20bn | ¥8.99bn | ¥7.41bn | ¥7.48bn | ¥2.47bn | ¥2.47bn | ¥2.02bn | ¥1.93bn | ¥1.19bn | ¥1.03bn |
| Debt | ¥7.36bn | ¥8.12bn | ¥6.69bn | ¥6.69bn | ¥1.50bn | ¥1.80bn | ¥1.36bn | ¥1.50bn | ¥831.8m | ¥657.4m |
| Shareholders' equity | ¥1.65bn | ¥1.13bn | ¥921.0m | ¥168.4m | ¥119.7m | ¥1.00bn | ¥787.8m | ¥1.07bn | ¥1.23bn | ¥1.31bn |
| Shares outstanding | 275m | 256m | 256m | 240m | 194m | 147m | 134m | 118m | 111m | 94m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥1.07bn | ¥330.7m | ¥59.5m | −¥157.9m | −¥272.6m | −¥247.8m | −¥375.2m | −¥399.5m | −¥437.0m | −¥368.6m |
| Capital spending | −¥367.0m | −¥26.4m | −¥28.7m | −¥10.1m | −¥95.5m | −¥749.0m | −¥8.2m | −¥24.7m | −¥29.9m | −¥19.3m |
| Free cash flow | ¥700.0m | ¥304.3m | ¥30.8m | −¥168.0m | −¥368.0m | −¥996.8m | −¥383.4m | −¥424.2m | −¥466.9m | −¥388.0m |
| Dividends paid | — | — | — | — | — | — | — | −¥12.3m | −¥586.7m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥395.0m | ¥605.0m | ¥565.5m | ¥889.5m | ¥473.0m | ¥456.3m | ¥689.5m | ¥306.5m |
| Operating income | ¥9.0m | ¥4.0m | ¥44.8m | ¥24.5m | ¥6.0m | ¥30.0m | ¥70.3m | −¥3.2m |
| Net income | −¥40.0m | −¥31.0m | −¥12.2m | −¥21.8m | −¥33.0m | −¥3.4m | ¥9.3m | −¥37.3m |
| Diluted earnings per share | -0.15 | -0.11 | -0.05 | -0.09 | -0.13 | -0.01 | 0.04 | -0.15 |
| Total assets | ¥9.82bn | ¥9.85bn | ¥9.80bn | ¥9.91bn | ¥10.23bn | ¥10.12bn | ¥10.11bn | ¥10.16bn |
| Cash and short-term investments | ¥319.0m | ¥413.0m | ¥248.0m | ¥300.9m | ¥184.0m | ¥204.3m | ¥376.0m | ¥232.2m |
| Debt | ¥1.21bn | ¥7.36bn | ¥1.20bn | ¥7.88bn | ¥1.01bn | ¥8.12bn | ¥1.05bn | ¥8.45bn |
| Shareholders' equity | ¥1.60bn | ¥1.65bn | ¥1.08bn | ¥1.09bn | ¥1.10bn | ¥1.13bn | ¥1.14bn | ¥974.5m |
Financial ratios
Data as of 5 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 2.4% | 5.6% | 0.7% | -21.2% | -20.2% | -9.3% | — | — | — | — | — |
| Net margin | -3.9% | -2.6% | 3.2% | -32.0% | -21.1% | -8.8% | — | — | — | — | — |
| Return on equity | -6.0% | -4.1% | 4.4% | -673.8% | -745.8% | -41.5% | — | — | — | — | — |
| Return on assets | -1.0% | -0.5% | 0.5% | -14.8% | -34.5% | -12.0% | — | — | — | — | — |
| Free cash flow yield | 16.8% | 4.5% | 1.1% | -2.0% | -2.9% | 11.0% | — | — | — | — | — |
| Revenue growth | 44.1% | 36.9% | -63.8% | -16.3% | -10.0% | -4.2% | — | — | — | — | — |
| Earnings growth | 111.0% | -214.0% | -103.6% | 27.1% | 114.5% | -28.3% | — | — | — | — | — |
| Current ratio | 1.45x | 1.60x | 1.28x | 0.46x | 1.26x | 2.06x | — | — | — | — | — |
| Debt to equity | 4.47x | 7.17x | 7.26x | 39.75x | 12.51x | 1.79x | — | — | — | — | — |
| Equity ratio | 16.7% | 11.2% | 11.0% | 2.2% | 4.6% | 28.9% | — | — | — | — | — |
| Interest coverage | 0.45x | 1.02x | 0.14x | -2.91x | -28.30x | -16.54x | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | 0.0% | — | 0.0% | 0.8% | 0.1% | 1.2% | 3.2% |
| Buybacks as a share of market value | -7.5% | -0.1% | -6.7% | -23.8% | -31.4% | -10.0% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.6% | -11.7% | -5.0% |
| Net income | -55.8% | -25.1% | -10.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.7% | -6.4% | -10.4% | -9.8% |
| Net margin | -3.4% | -13.6% | -14.1% | -12.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -81.5 | -170.9 | 188.4 | -3.8 | -4.5 | -6.7 | -5.3 | -5.3 | -4.7 | -13.7 |
| Price to sales | 3.1 | 4.5 | 6.0 | 1.2 | 1.0 | 0.6 | 0.6 | 0.8 | 0.5 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Sept 2006.
| FY2007 | FY2000 | FY1999 | FY1998 | |
|---|---|---|---|---|
| Paid in the year | 35.00 | 30.00 | 75.00 | 90.00 |
- 10-to-1 reverse split · 27 Sept 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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