A 
36
+5.88%
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
¥1.11bn
FY2016FY2025
Net income
¥526.5m
FY2016FY2025
Free cash flow
−¥300.6m
FY2016FY2025
Shareholders' equity
¥4.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.11bn | ¥3.31bn | ¥4.17bn | ¥2.35bn | ¥1.20bn | ¥2.65bn | ¥2.39bn | ¥1.08bn | ¥1.59bn | ¥765.8m |
| Research and development | — | — | — | — | ¥100.0m | ¥226.0m | — | — | — | — |
| Operating income | −¥922.4m | −¥2.62bn | −¥2.15bn | −¥1.93bn | −¥699.1m | −¥1.46bn | −¥298.8m | −¥172.4m | ¥117.6m | −¥23.1m |
| Net income | ¥526.5m | −¥4.41bn | −¥2.46bn | −¥2.25bn | −¥1.16bn | −¥1.69bn | −¥488.1m | −¥277.3m | ¥82.3m | −¥49.9m |
| Diluted earnings per share | 19.00 | -337.59 | -426.36 | -633.71 | -586.62 | -1,279.32 | -47.21 | -29.54 | 9.69 | -6.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥9.03bn | ¥7.79bn | ¥4.51bn | ¥5.68bn | ¥1.48bn | ¥1.46bn | ¥3.45bn | ¥2.76bn | ¥2.79bn | ¥869.1m |
| Cash and short-term investments | ¥4.16bn | ¥1.54bn | ¥554.3m | ¥1.14bn | ¥529.5m | ¥529.2m | ¥715.5m | ¥724.3m | ¥517.5m | ¥326.3m |
| Total liabilities | ¥4.66bn | ¥5.03bn | ¥4.34bn | ¥4.37bn | ¥1.03bn | ¥1.40bn | ¥1.97bn | ¥1.24bn | ¥1.32bn | ¥175.1m |
| Debt | ¥2.37bn | ¥2.56bn | ¥3.49bn | ¥3.22bn | ¥827.3m | ¥1.09bn | ¥1.16bn | ¥1.16bn | ¥1.26bn | ¥149.1m |
| Shareholders' equity | ¥4.37bn | ¥2.76bn | ¥171.8m | ¥1.31bn | ¥449.3m | ¥63.3m | ¥1.48bn | ¥1.52bn | ¥1.47bn | ¥694.0m |
| Shares outstanding | 28m | 13m | 6m | 4m | 2m | 1m | 10m | 9m | 8m | 8m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥232.6m | −¥2.42bn | −¥1.47bn | −¥3.31bn | −¥965.2m | ¥41.7m | −¥93.3m | ¥141.3m | −¥789.4m | −¥50.9m |
| Capital spending | −¥68.0m | −¥153.5m | −¥117.1m | −¥83.1m | −¥227.2m | −¥159.5m | −¥2.2m | −¥5.3m | −¥877.1m | −¥668,000 |
| Free cash flow | −¥300.6m | −¥2.57bn | −¥1.59bn | −¥3.40bn | −¥1.19bn | −¥117.7m | −¥95.6m | ¥136.0m | −¥1.67bn | −¥51.5m |
Latest quarters
By quarter end
| Nov 2025 | Aug 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥613.4m | ¥477.2m | ¥632.4m | ¥555.6m | ¥808.1m | ¥644.5m | ¥1.30bn | ¥1.05bn |
| Operating income | −¥462.2m | −¥512.2m | −¥410.2m | −¥1.86bn | −¥112.2m | −¥291.7m | −¥348.7m | −¥553.1m |
| Net income | ¥3.19bn | ¥505.1m | ¥21.5m | −¥3.67bn | ¥16.7m | −¥313.5m | −¥443.0m | −¥794.8m |
| Diluted earnings per share | 103.40 | 18.20 | 0.80 | -182.85 | 1.32 | -30.21 | -48.42 | -115.62 |
| Total assets | ¥14.95bn | ¥9.03bn | ¥9.59bn | ¥7.79bn | ¥4.51bn | ¥3.54bn | ¥5.09bn | ¥4.51bn |
| Cash and short-term investments | ¥8.25bn | ¥4.16bn | ¥2.74bn | ¥1.54bn | ¥750.2m | ¥427.3m | ¥604.4m | ¥554.3m |
| Debt | ¥2.37bn | ¥2.04bn | ¥3.07bn | ¥2.21bn | ¥2.05bn | ¥2.12bn | ¥3.10bn | ¥3.09bn |
| Shareholders' equity | ¥9.35bn | ¥4.37bn | ¥3.90bn | ¥2.76bn | ¥1.61bn | ¥683.0m | ¥705.4m | ¥171.8m |
Financial ratios
Data as of 8 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -3.3% | -103.3% | -54.0% | -91.2% | -96.2% | -55.8% | — |
| Net margin | 63.8% | -133.2% | -58.9% | -95.8% | -96.9% | -63.8% | — |
| Return on equity | 32.3% | -87.7% | -1431.5% | -172.3% | -258.2% | -2674.8% | — |
| Return on assets | 21.3% | -52.3% | -54.5% | -39.7% | -78.3% | -115.9% | — |
| Free cash flow yield | — | -142.3% | -248.8% | -1349.4% | -430.9% | -8.4% | -151.3% |
| Revenue growth | 46.5% | -20.7% | 77.4% | 96.6% | -54.9% | 10.9% | — |
| Earnings growth | -170.1% | 79.4% | 9.1% | 94.3% | -31.5% | 247.0% | — |
| Current ratio | 0.90x | 1.67x | 1.19x | 1.33x | 2.74x | 1.53x | — |
| Debt to equity | 0.21x | 0.51x | 20.00x | 2.42x | 1.85x | 17.22x | — |
| Equity ratio | 65.8% | 59.7% | 3.8% | 23.0% | 30.3% | 4.3% | — |
| Interest coverage | -2.64x | -16.62x | -9.17x | -17.96x | -86.53x | -40.84x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 8.4% | 8.5% | 0.0% |
| Buybacks as a share of market value | -7.7% | -193.8% | -127.4% | -39.8% | -79.1% | -58.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.2% | -16.0% | 10.5% |
| Operating income | -21.8% | -8.8% | — |
| Net income | — | — | 50.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -80.0% | -69.5% | -66.1% | -48.2% |
| Net margin | -87.9% | -78.5% | -77.4% | -57.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.6 | -1.3 | -1.0 | -1.8 | -2.4 | -0.9 | -41.5 | -74.1 | — | -518.5 |
| Price to sales | 6.0 | 1.7 | 0.6 | 1.7 | 2.3 | 0.6 | 8.5 | 19.0 | 38.4 | 33.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Mar 2010.
| FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|
| Paid in the year | 16.667 | 16.667 | 33.333 | 0.50 | 1.00 |
- 10-to-1 reverse split · 26 Apr 2024
- 3-for-1 split · 29 Aug 2016
- 100-for-1 split · 27 Mar 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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