M 
750
+2.18%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥6.44bn
FY2019FY2025
Net income
¥254.9m
FY2019FY2025
Free cash flow
¥558.1m
FY2019FY2025
Shareholders' equity
¥1.57bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥6.44bn | ¥5.13bn | ¥2.61bn | ¥2.29bn | ¥1.45bn | ¥947.0m | ¥646.3m |
| Gross profit | ¥2.03bn | ¥1.76bn | ¥1.42bn | ¥1.40bn | ¥745.8m | ¥426.4m | ¥318.4m |
| Operating income | ¥479.7m | ¥109.7m | ¥504.4m | ¥376.4m | ¥139.1m | −¥145.4m | −¥225.5m |
| Net income | ¥254.9m | −¥29.8m | ¥441.4m | ¥265.1m | ¥161.8m | −¥149.1m | −¥226.2m |
| Diluted earnings per share | 23.38 | -2.88 | 41.79 | 26.96 | 16.83 | -14.07 | -21.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥5.37bn | ¥4.63bn | ¥1.73bn | ¥1.30bn | ¥663.6m | ¥374.4m | ¥227.8m |
| Cash and short-term investments | ¥1.49bn | ¥1.12bn | ¥913.7m | ¥659.5m | ¥423.5m | ¥188.8m | ¥106.0m |
| Total liabilities | ¥3.80bn | ¥3.33bn | ¥618.3m | ¥640.7m | ¥416.2m | ¥376.8m | ¥181.0m |
| Debt | ¥2.62bn | ¥2.57bn | ¥332.5m | ¥183.8m | ¥188.5m | ¥222.7m | ¥87.0m |
| Shareholders' equity | ¥1.57bn | ¥1.29bn | ¥1.12bn | ¥655.4m | ¥247.4m | −¥2.3m | ¥46.7m |
| Shares outstanding | 11m | 10m | 11m | 10m | 10m | 11m | 11m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | ¥632.0m | ¥345.9m | ¥177.5m | ¥377.5m | ¥202.1m | −¥119.7m | −¥166.2m |
| Capital spending | −¥73.9m | −¥27.2m | −¥30.8m | −¥12.7m | −¥2.8m | −¥487,000 | −¥3.0m |
| Free cash flow | ¥558.1m | ¥318.7m | ¥146.7m | ¥364.8m | ¥199.4m | −¥120.2m | −¥169.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.35bn | ¥1.75bn | ¥1.76bn | ¥1.65bn | ¥1.57bn | ¥1.45bn | ¥1.46bn | ¥1.40bn |
| Gross profit | ¥713.7m | ¥527.1m | ¥523.4m | ¥519.0m | ¥499.2m | ¥490.2m | ¥473.1m | ¥448.7m |
| Operating income | ¥186.3m | ¥107.7m | ¥163.4m | ¥157.2m | ¥149.3m | ¥128.9m | ¥109.3m | ¥92.8m |
| Net income | ¥83.5m | ¥54.5m | ¥5.2m | ¥93.6m | ¥86.1m | ¥70.1m | ¥132.4m | ¥39.3m |
| Diluted earnings per share | 7.88 | 5.14 | 0.48 | 8.58 | 7.89 | 6.42 | 12.82 | 3.81 |
| Total assets | ¥5.72bn | ¥5.80bn | ¥5.37bn | ¥5.15bn | ¥4.66bn | ¥4.59bn | ¥4.63bn | ¥4.17bn |
| Cash and short-term investments | ¥1.06bn | ¥1.13bn | ¥1.49bn | ¥1.35bn | ¥909.5m | ¥1.03bn | ¥1.12bn | ¥967.6m |
| Debt | ¥2.93bn | ¥578.9m | ¥2.62bn | ¥487.0m | ¥2.38bn | ¥369.9m | ¥371.4m | ¥343.4m |
| Shareholders' equity | ¥1.61bn | ¥1.53bn | ¥1.57bn | ¥1.55bn | ¥1.46bn | ¥1.37bn | ¥1.29bn | ¥1.16bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.6% | 34.3% | 54.3% | 61.3% | 51.3% | 45.0% |
| Operating margin | 7.5% | 2.1% | 19.2% | 16.2% | 9.6% | -15.4% |
| Net margin | 4.0% | -0.6% | 16.9% | 11.6% | 11.1% | -15.7% |
| Return on equity | 16.3% | -2.3% | 39.6% | 40.5% | 65.4% | 6441.5% |
| Return on assets | 4.7% | -0.6% | 25.5% | 20.5% | 24.4% | -39.8% |
| Free cash flow yield | 7.9% | 4.4% | 2.4% | 4.9% | 2.6% | — |
| Revenue growth | 25.3% | 96.8% | 14.0% | 57.4% | 53.5% | 46.5% |
| Earnings growth | -956.0% | -106.7% | 66.5% | 63.8% | -208.6% | -34.1% |
| Current ratio | 1.60x | 1.85x | 3.29x | 1.95x | 2.14x | 1.55x |
| Debt to equity | 1.67x | 1.98x | 0.30x | 0.28x | 0.76x | -89.96x |
| Equity ratio | 29.2% | 28.0% | 64.3% | 50.6% | 37.3% | -0.6% |
| Interest coverage | 11.45x | 3.50x | 154.61x | 147.09x | 64.65x | -56.94x |
| Buybacks as a share of market value | -5.6% | 2.2% | -7.4% | -2.3% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 41.2% | 46.7% | — |
| Operating income | 8.4% | — | — |
| Net income | -1.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.8% | 40.2% | 41.3% | — |
| Operating margin | 5.1% | 8.9% | 7.8% | — |
| Net margin | 1.9% | 5.7% | 5.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 35.1 | -254.6 | 19.5 | 39.5 |
| Price to sales | 1.4 | 1.5 | 3.3 | 4.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 Dec 2025.
| FY2025 | |
|---|---|
| Paid in the year | 10.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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