G 
277
-4.15%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥2.00bn
FY2017FY2026
Net income
−¥538.0m
FY2017FY2026
Free cash flow
−¥239.0m
FY2017FY2026
Shareholders' equity
¥7.27bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.00bn | ¥2.04bn | ¥1.24bn | ¥1.80bn | ¥2.47bn | ¥3.90bn | ¥8.29bn | ¥14.83bn | ¥13.77bn | ¥6.95bn |
| Research and development | — | — | ¥0 | ¥0 | ¥0 | ¥0 | ¥0 | — | — | — |
| Operating income | −¥37.0m | −¥45.0m | −¥144.0m | ¥89.0m | ¥372.0m | ¥376.0m | −¥2.12bn | ¥1.72bn | ¥1.50bn | ¥878.7m |
| Net income | −¥538.0m | ¥70.0m | −¥198.0m | ¥348.0m | ¥208.0m | −¥255.0m | −¥2.23bn | ¥1.00bn | ¥263.4m | −¥284.8m |
| Diluted earnings per share | -55.68 | 7.73 | -21.88 | 38.45 | 22.98 | -28.18 | -246.06 | 180.40 | 47.40 | -51.21 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥7.89bn | ¥8.64bn | ¥8.36bn | ¥8.43bn | ¥8.90bn | ¥8.30bn | ¥11.13bn | ¥22.41bn | ¥31.30bn | ¥28.25bn |
| Cash and short-term investments | ¥2.55bn | ¥2.19bn | ¥2.77bn | ¥2.96bn | ¥1.85bn | ¥2.10bn | −¥945.0m | — | — | — |
| Total liabilities | ¥620.0m | ¥807.0m | ¥594.0m | ¥427.0m | ¥1.25bn | ¥962.0m | ¥5.78bn | ¥16.40bn | ¥26.08bn | ¥23.37bn |
| Debt | ¥42.0m | ¥55.0m | ¥743.0m | ¥711.0m | ¥310.0m | ¥586.0m | ¥5.77bn | ¥6.93bn | ¥11.34bn | ¥14.15bn |
| Shareholders' equity | ¥7.27bn | ¥7.83bn | ¥7.77bn | ¥8.01bn | ¥7.66bn | ¥7.35bn | ¥3.72bn | ¥6.02bn | ¥5.24bn | ¥5.04bn |
| Shares outstanding | 10m | 9m | 9m | 9m | 9m | 9m | 9m | 6m | 6m | 6m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥236.0m | −¥260.0m | −¥187.0m | ¥755.0m | ¥196.0m | ¥2.69bn | ¥3.70bn | ¥5.30bn | ¥4.84bn | −¥2.96bn |
| Capital spending | −¥3.0m | −¥149.0m | −¥30.0m | −¥26.0m | −¥8.0m | −¥16.0m | −¥8.0m | −¥290.0m | −¥3.25bn | −¥421.0m |
| Free cash flow | −¥239.0m | −¥409.0m | −¥217.0m | ¥729.0m | ¥188.0m | ¥2.67bn | ¥3.69bn | ¥5.01bn | ¥1.59bn | −¥3.38bn |
| Dividends paid | −¥18.0m | — | −¥45.0m | −¥54.0m | — | — | −¥27.0m | −¥27.0m | −¥28.0m | −¥28.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥458.0m | ¥499.0m | ¥511.0m | ¥545.0m | ¥448.0m | ¥566.0m | ¥403.0m | ¥417.0m |
| Operating income | ¥32.0m | ¥191.0m | −¥19.0m | −¥22.0m | −¥16.0m | −¥8.0m | −¥50.0m | −¥102.0m |
| Net income | ¥12.0m | −¥56.0m | −¥33.0m | −¥21.0m | −¥428.0m | ¥106.0m | −¥38.0m | −¥85.0m |
| Diluted earnings per share | 1.24 | -5.80 | -3.65 | -2.32 | -47.29 | 11.71 | -4.20 | -9.39 |
| Total assets | ¥8.36bn | ¥7.89bn | ¥8.05bn | ¥8.04bn | ¥8.02bn | ¥8.64bn | ¥8.39bn | ¥8.42bn |
| Cash and short-term investments | ¥1.89bn | ¥2.55bn | ¥2.57bn | ¥2.46bn | ¥2.25bn | ¥2.19bn | ¥2.08bn | ¥2.18bn |
| Debt | ¥11.0m | ¥36.0m | ¥11.0m | ¥42.0m | ¥12.0m | ¥47.0m | ¥12.0m | ¥50.0m |
| Shareholders' equity | ¥7.78bn | ¥7.27bn | ¥7.34bn | ¥7.37bn | ¥7.39bn | ¥7.83bn | ¥7.73bn | ¥7.77bn |
Financial ratios
Data as of 24 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -26.5% | -2.2% | -14.9% | 5.0% | 13.8% | 8.6% | — | — |
| Net margin | -26.9% | 3.4% | -16.0% | 19.4% | 8.4% | -6.5% | — | — |
| Return on equity | -7.4% | 0.9% | -2.5% | 4.3% | 2.7% | -3.5% | — | — |
| Return on assets | -6.8% | 0.8% | -2.4% | 4.1% | 2.3% | -3.1% | — | — |
| Free cash flow yield | -8.6% | -4.3% | -6.2% | 30.6% | 8.0% | 106.1% | — | — |
| Revenue growth | -2.0% | 65.0% | -31.1% | -27.2% | -36.7% | -52.9% | — | — |
| Earnings growth | -868.6% | -135.4% | -156.9% | 67.3% | -181.6% | -88.5% | — | — |
| Current ratio | 461.18x | 7.28x | 9.19x | 19.28x | 5.81x | 7.66x | — | — |
| Debt to equity | 0.00x | 0.01x | 0.00x | 0.00x | 0.04x | 0.08x | — | — |
| Equity ratio | 92.1% | 90.6% | 92.9% | 94.9% | 86.0% | 88.6% | — | — |
| Interest coverage | — | — | — | 45.00x | 68.40x | 2.63x | -9.76x | 3.81x |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Buybacks as a share of market value | -6.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.7% | -12.5% | -11.6% |
| Net income | — | 16.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2.0% | -1.9% | 4.5% | 4.4% |
| Net margin | -11.6% | -4.5% | -2.7% | -0.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.0 | 50.7 | -29.3 | 21.6 | 45.8 | -42.7 | -7.3 | 7.3 | 29.8 | -37.9 |
| Price to sales | 1.4 | 1.7 | 4.7 | 4.2 | 3.9 | 2.8 | 2.0 | 0.5 | 0.6 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 28 Mar 2025.
| FY2026 | FY2024 | FY2023 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.00 | 5.00 | 6.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
- 2-for-1 split · 13 Dec 2016
- 100-for-1 split · 26 Sept 2012
- 1-to-1 reverse split · 1 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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