R 
23
-8.00%
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
¥433.0m
FY2017FY2026
Net income
¥50.0m
FY2017FY2026
Free cash flow
¥54.0m
FY2017FY2026
Shareholders' equity
¥1.70bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥433.0m | ¥383.0m | ¥349.0m | ¥339.0m | ¥362.0m | ¥359.0m | ¥294.0m | ¥141.0m | ¥515.0m | ¥246.0m |
| Research and development | — | — | ¥0 | ¥0 | ¥0 | ¥0 | ¥0 | — | — | — |
| Operating income | ¥48.0m | ¥35.0m | ¥17.0m | ¥5.0m | −¥6.0m | ¥29.0m | −¥50.0m | −¥103.0m | −¥138.0m | −¥163.0m |
| Net income | ¥50.0m | ¥9.0m | −¥11.0m | ¥24.0m | −¥53.0m | −¥52.0m | ¥28.0m | −¥109.0m | ¥179.0m | −¥162.0m |
| Diluted earnings per share | 0.52 | 0.09 | -0.11 | 0.25 | -0.55 | -0.54 | 0.29 | -1.14 | 4.83 | -6.75 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.85bn | ¥1.83bn | ¥2.30bn | ¥2.39bn | ¥2.40bn | ¥2.55bn | ¥2.56bn | ¥2.31bn | ¥2.51bn | ¥3.01bn |
| Cash and short-term investments | ¥466.0m | ¥462.0m | ¥886.0m | ¥879.0m | ¥752.0m | ¥780.0m | ¥644.0m | — | — | — |
| Total liabilities | ¥155.0m | ¥178.0m | ¥251.0m | ¥329.0m | ¥364.0m | ¥465.0m | ¥415.0m | ¥346.0m | ¥434.0m | ¥475.0m |
| Debt | ¥10.0m | ¥42.0m | ¥75.0m | ¥107.0m | ¥140.0m | ¥172.0m | ¥204.0m | ¥237.0m | ¥269.0m | ¥302.0m |
| Shareholders' equity | ¥1.70bn | ¥1.65bn | ¥2.05bn | ¥2.06bn | ¥2.04bn | ¥2.09bn | ¥2.14bn | ¥1.97bn | ¥2.08bn | ¥2.54bn |
| Shares outstanding | 96m | 96m | 96m | 96m | 96m | 96m | 96m | 96m | 37m | 24m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥54.0m | ¥58.0m | −¥18.0m | ¥12.0m | −¥30.0m | ¥81.0m | ¥206.0m | −¥146.0m | ¥243.0m | −¥72.0m |
| Capital spending | — | −¥2.0m | −¥2.0m | −¥1.0m | — | — | −¥2.0m | −¥5.0m | −¥5.0m | −¥5.0m |
| Free cash flow | ¥54.0m | ¥56.0m | −¥20.0m | ¥11.0m | −¥30.0m | ¥81.0m | ¥204.0m | −¥151.0m | ¥238.0m | −¥77.0m |
| Dividends paid | — | −¥459.0m | — | — | — | — | — | — | −¥165.0m | −¥685.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥43.0m | ¥115.0m | ¥111.0m | ¥107.0m | ¥100.0m | ¥98.0m | ¥99.0m | ¥95.0m |
| Operating income | −¥31.0m | ¥16.0m | ¥7.0m | ¥19.0m | ¥6.0m | −¥6.0m | ¥23.0m | ¥16.0m |
| Net income | −¥31.0m | ¥19.0m | ¥27.0m | ¥6.0m | −¥2.0m | −¥1.0m | ¥10.0m | ¥6.0m |
| Diluted earnings per share | -0.32 | 0.20 | 0.28 | 0.06 | -0.02 | -0.01 | 0.10 | 0.06 |
| Total assets | ¥1.48bn | ¥1.85bn | ¥1.81bn | ¥1.81bn | ¥1.80bn | ¥1.83bn | ¥2.27bn | ¥2.27bn |
| Cash and short-term investments | ¥189.0m | ¥466.0m | ¥424.0m | ¥416.0m | ¥393.0m | ¥462.0m | ¥894.0m | ¥888.0m |
| Debt | ¥2.0m | ¥10.0m | ¥18.0m | ¥27.0m | ¥32.0m | ¥42.0m | ¥32.0m | ¥59.0m |
| Shareholders' equity | ¥1.40bn | ¥1.70bn | ¥1.68bn | ¥1.65bn | ¥1.65bn | ¥1.65bn | ¥2.06bn | ¥2.05bn |
Financial ratios
Data as of 24 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 21.9% | 9.1% | 4.3% | 0.9% | -1.7% | -0.6% | — | — | — |
| Net margin | 11.5% | 2.3% | -3.2% | 7.1% | -14.6% | -14.5% | — | — | — |
| Return on equity | 2.9% | 0.5% | -0.5% | 1.2% | -2.6% | -2.5% | — | — | — |
| Return on assets | 2.7% | 0.5% | -0.5% | 1.0% | -2.2% | -2.0% | — | — | — |
| Free cash flow yield | — | 2.6% | -0.7% | 0.6% | — | — | 9.0% | -6.1% | 27.9% |
| Revenue growth | 13.1% | 9.7% | 2.9% | -6.4% | 0.8% | 22.1% | — | — | — |
| Earnings growth | 455.6% | -181.8% | -145.8% | -145.3% | 1.9% | -285.7% | — | — | — |
| Current ratio | 5.37x | 5.11x | 10.40x | 7.31x | 6.66x | 4.53x | — | — | — |
| Debt to equity | 0.01x | 0.03x | 0.04x | 0.05x | 0.07x | 0.08x | — | — | — |
| Equity ratio | 91.6% | 90.3% | 89.1% | 86.2% | 84.8% | 81.8% | — | — | — |
| Interest coverage | — | 35.00x | 7.50x | 1.50x | -2.00x | -0.50x | -12.50x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.5% | 3.8% | -0.3% |
| Operating income | 112.5% | 10.6% | -9.1% |
| Net income | 27.7% | — | -3.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.2% | 7.0% | 5.8% | -5.2% |
| Net margin | 7.2% | 4.8% | -1.5% | -0.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 46.1 | 320.0 | -192.0 | 72.0 | -38.0 | -38.8 | 82.3 | -26.4 | 4.1 | -5.5 |
| Price to sales | 5.3 | 7.5 | 6.0 | 5.1 | 5.6 | 5.6 | 7.8 | 20.4 | 1.4 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Mar 2006.
| FY2006 | FY2005 | FY2004 | FY2003 | FY2002 | FY2001 | FY1999 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 80.00 | 40.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 |
- 10-to-1 reverse split · 13 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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