R 
13
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
¥34.57bn
FY2016FY2025
Net income
−¥17.23bn
FY2016FY2025
Free cash flow
−¥34.0m
FY2016FY2025
Shareholders' equity
¥1.17bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥34.57bn | ¥5.57bn | ¥2.40bn | ¥2.03bn | ¥1.09bn | ¥763.5m | ¥828.0m | ¥863.2m | ¥556.5m | ¥827.6m |
| Gross profit | ¥860.5m | ¥1.02bn | ¥305.7m | ¥541.7m | ¥542.4m | ¥211.9m | ¥207.6m | ¥210.5m | ¥107.3m | ¥160.4m |
| Operating income | −¥4.15bn | ¥333.3m | −¥415.1m | −¥69.4m | ¥206.6m | −¥32.8m | ¥18.3m | ¥26.6m | −¥27.4m | −¥80.6m |
| Net income | −¥17.23bn | ¥296.0m | −¥372.7m | ¥3.0m | ¥254.4m | −¥187.8m | −¥55.2m | ¥4.6m | −¥1.03bn | −¥105.8m |
| Diluted earnings per share | -148.53 | 3.35 | -8.40 | 0.04 | 3.25 | -0.81 | -0.43 | 0.06 | -14.03 | -1.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥46.80bn | ¥51.63bn | ¥1.95bn | ¥3.60bn | ¥2.20bn | ¥1.99bn | ¥1.84bn | ¥1.82bn | ¥1.92bn | ¥2.96bn |
| Cash and short-term investments | ¥2.78bn | ¥3.35bn | ¥1.09bn | ¥1.67bn | ¥743.4m | ¥505.7m | ¥258.6m | ¥176.0m | ¥198.6m | ¥179.2m |
| Total liabilities | ¥45.63bn | ¥33.16bn | ¥660.6m | ¥1.92bn | ¥540.6m | ¥588.8m | ¥910.6m | ¥1.75bn | ¥1.85bn | ¥1.85bn |
| Debt | ¥11.69bn | ¥3.62bn | ¥397.1m | ¥1.40bn | ¥186.1m | ¥189.5m | ¥646.2m | ¥1.45bn | ¥1.54bn | ¥1.55bn |
| Shareholders' equity | ¥1.17bn | ¥18.47bn | ¥1.29bn | ¥1.68bn | ¥1.66bn | ¥1.41bn | ¥930.3m | ¥71.2m | ¥70.3m | ¥1.11bn |
| Shares outstanding | 116m | 88m | 44m | 79m | 78m | 231m | 128m | 74m | 74m | 74m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥197.7m | ¥1.05bn | ¥610.2m | −¥712.3m | ¥149.4m | ¥142.1m | ¥15.7m | ¥75.1m | ¥34.9m | −¥125.2m |
| Capital spending | −¥231.7m | −¥17.9m | −¥29.2m | −¥11.8m | −¥15.6m | −¥12.1m | −¥13.2m | −¥5.9m | −¥12.4m | −¥5.1m |
| Free cash flow | −¥34.0m | ¥1.03bn | ¥581.0m | −¥724.1m | ¥133.8m | ¥130.0m | ¥2.6m | ¥69.2m | ¥22.5m | −¥130.3m |
Latest quarters
By quarter end
| Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | Jul 2024 | Apr 2024 | Jan 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥9.41bn | ¥10.91bn | ¥8.19bn | ¥6.06bn | ¥2.51bn | ¥2.66bn | ¥117.8m | ¥282.6m |
| Gross profit | −¥1.40bn | ¥2.29bn | ¥557.0m | −¥580.9m | ¥784.3m | ¥208.5m | ¥9.5m | ¥14.9m |
| Operating income | −¥2.21bn | ¥1.19bn | −¥292.4m | −¥2.83bn | ¥445.7m | ¥77.4m | −¥83.0m | −¥106.7m |
| Net income | −¥436.8m | ¥345.7m | −¥15.70bn | −¥1.44bn | ¥415.0m | ¥77.2m | −¥88.7m | −¥107.5m |
| Diluted earnings per share | -3.74 | 2.96 | -134.66 | -12.63 | 5.19 | 1.16 | -1.37 | -1.66 |
| Total assets | ¥46.80bn | ¥48.22bn | ¥47.72bn | ¥65.68bn | ¥51.63bn | ¥3.55bn | ¥2.32bn | ¥2.21bn |
| Cash and short-term investments | ¥2.78bn | ¥4.42bn | ¥3.70bn | ¥3.89bn | ¥3.35bn | ¥660.1m | ¥598.9m | ¥958.9m |
| Debt | ¥2.99bn | ¥4.71bn | ¥14.51bn | ¥14.67bn | ¥3.59bn | ¥1.76bn | ¥733.1m | ¥815.1m |
| Shareholders' equity | ¥1.17bn | ¥1.62bn | ¥1.28bn | ¥17.12bn | ¥18.47bn | ¥1.55bn | ¥1.37bn | ¥1.18bn |
Financial ratios
Data as of 13 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 2.4% | 18.3% | 12.7% | 26.7% | 49.7% | 27.8% | — | — | — | — |
| Operating margin | -49.5% | 6.9% | -15.1% | 1.1% | 23.8% | -19.8% | — | — | — | — |
| Net margin | -49.8% | 5.3% | -15.5% | 0.1% | 23.3% | -24.6% | — | — | — | — |
| Return on equity | -1471.2% | 1.6% | -28.9% | 0.2% | 15.3% | -13.4% | — | — | — | — |
| Return on assets | -36.8% | 0.6% | -19.1% | 0.1% | 11.6% | -9.4% | — | — | — | — |
| Free cash flow yield | 16.5% | 61.5% | 39.7% | -77.4% | 29.5% | 27.5% | — | — | — | — |
| Revenue growth | 521.1% | 131.6% | 18.6% | 85.8% | 42.9% | -7.8% | — | — | — | — |
| Earnings growth | -5921.4% | -179.4% | -12383.2% | -98.8% | -235.5% | 240.4% | — | — | — | — |
| Current ratio | 1.03x | 1.05x | 3.30x | 2.41x | 3.45x | 1.79x | — | — | — | — |
| Debt to equity | 9.98x | 0.20x | 0.31x | 0.83x | 0.11x | 0.13x | — | — | — | — |
| Equity ratio | 2.5% | 35.8% | 66.2% | 46.6% | 75.4% | 70.5% | — | — | — | — |
| Interest coverage | -50.02x | 14.71x | -28.95x | 1.40x | 60.36x | -4.32x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.4% | 1.2% | 1.0% | 0.6% |
| Buybacks as a share of market value | -18.9% | -8.8% | -76.6% | -61.6% | 0.0% | 48.6% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 157.4% | 114.4% | 30.1% |
| Operating income | 291.0% | 163.3% | 31.1% |
| Net income | — | 146.9% | 45.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.7% | 6.1% | 7.5% | 8.1% |
| Operating margin | -9.5% | -9.7% | -8.9% | -8.6% |
| Net margin | -42.2% | -38.8% | -37.1% | -36.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.3 | 96.1 | -16.7 | — | 58.4 | -393.6 | -930.3 | — | -15.7 | -160.1 |
| Price to sales | 0.2 | 5.1 | 2.6 | 5.5 | 13.6 | 96.8 | 62.0 | 7.7 | 29.1 | 20.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Feb 2008.
| FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | FY2003 | FY2001 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.50 | 4.00 | 1.00 | 2.50 | 3.542 | 1.25 | 0.795 | 0.379 |
- 10-to-1 reverse split · 17 Oct 2024
- 100-for-1 split · 5 Jan 2009
- 3-for-1 split · 28 Dec 2005
- 2-for-1 split · 26 Aug 2004
- 2-for-1 split · 26 Aug 2003
- 1.1-for-1 split · 27 Aug 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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