L 
3,520
+2.18%
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
¥15.51bn
FY2019FY2025
Net income
¥674.0m
FY2019FY2025
Free cash flow
¥1.33bn
FY2019FY2025
Shareholders' equity
¥4.35bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | ¥15.51bn | ¥11.77bn | ¥9.43bn | ¥8.73bn | ¥8.32bn | ¥7.22bn | ¥8.78bn |
| Operating income | ¥1.04bn | ¥870.5m | ¥198.2m | −¥43.0m | ¥216.8m | ¥57.6m | ¥118.8m |
| Net income | ¥674.0m | ¥825.4m | ¥326.7m | −¥72.6m | ¥159.2m | ¥19.4m | ¥39.6m |
| Diluted earnings per share | 240.49 | 298.71 | 133.12 | -31.52 | 69.92 | 6.94 | 14.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | ¥11.19bn | ¥9.78bn | ¥3.90bn | ¥3.07bn | ¥2.79bn | ¥2.14bn | ¥2.34bn |
| Cash and short-term investments | ¥3.14bn | ¥2.72bn | ¥1.29bn | ¥1.14bn | ¥1.27bn | ¥667.7m | ¥872.7m |
| Total liabilities | ¥6.83bn | ¥6.43bn | ¥2.45bn | ¥1.95bn | ¥1.55bn | ¥1.33bn | ¥1.55bn |
| Debt | ¥3.99bn | ¥4.06bn | ¥1.40bn | ¥736.9m | ¥438.6m | ¥477.1m | ¥687.0m |
| Shareholders' equity | ¥4.35bn | ¥3.35bn | ¥1.45bn | ¥1.12bn | ¥1.24bn | ¥808.5m | ¥789.0m |
| Shares outstanding | 3m | 3m | 2m | 2m | 2m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | ¥1.39bn | ¥1.65bn | ¥460.3m | −¥284.4m | ¥297.6m | −¥9.6m | −¥146.8m |
| Capital spending | −¥55.8m | −¥95.9m | −¥33.1m | −¥1.2m | −¥3.6m | −¥14.6m | −¥32.8m |
| Free cash flow | ¥1.33bn | ¥1.55bn | ¥427.2m | −¥285.6m | ¥294.0m | −¥24.2m | −¥179.6m |
| Dividends paid | −¥31.4m | — | — | −¥66.4m | — | — | — |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.88bn | ¥5.26bn | ¥5.24bn | ¥4.41bn | ¥4.01bn | ¥4.08bn | ¥3.95bn | ¥3.46bn |
| Operating income | ¥241.0m | ¥476.8m | ¥644.4m | ¥483.0m | ¥130.0m | ¥254.0m | ¥417.2m | ¥241.1m |
| Net income | ¥238.7m | ¥271.9m | ¥430.4m | ¥326.9m | ¥79.5m | ¥160.4m | ¥286.9m | ¥147.1m |
| Diluted earnings per share | 85.33 | 97.21 | 153.89 | 116.65 | 28.38 | 57.24 | 102.38 | 53.24 |
| Cash from operations | ¥489.0m | ¥1.11bn | ¥458.0m | ¥39.0m | ¥400.0m | ¥885.0m | ¥333.0m | −¥232.0m |
| Capital spending | −¥4.0m | −¥1.0m | −¥15.0m | −¥41.0m | −¥10.0m | −¥3.0m | −¥26.0m | −¥15.0m |
| Free cash flow | ¥485.0m | ¥1.10bn | ¥443.0m | −¥2.0m | ¥390.0m | ¥882.0m | ¥307.0m | −¥247.0m |
| Total assets | ¥13.07bn | ¥13.16bn | ¥12.90bn | ¥12.12bn | ¥11.19bn | ¥10.61bn | ¥10.47bn | ¥10.05bn |
| Cash and short-term investments | ¥3.87bn | ¥4.28bn | ¥3.37bn | ¥3.07bn | ¥3.14bn | ¥2.97bn | ¥2.15bn | ¥2.32bn |
| Debt | ¥796.3m | ¥1.31bn | ¥2.67bn | ¥1.33bn | ¥2.48bn | ¥1.11bn | ¥2.71bn | ¥1.32bn |
| Shareholders' equity | ¥5.55bn | ¥5.33bn | ¥5.09bn | ¥4.67bn | ¥4.35bn | ¥4.29bn | ¥4.16bn | ¥3.78bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 6.7% | 7.5% | 2.2% | -0.5% | 2.7% | 0.8% |
| Net margin | 4.3% | 7.0% | 3.5% | -0.8% | 1.9% | 0.3% |
| Return on equity | 15.5% | 24.6% | 22.5% | -6.5% | 12.9% | 2.4% |
| Return on assets | 6.0% | 8.4% | 8.4% | -2.4% | 5.7% | 0.9% |
| Free cash flow yield | 12.4% | 15.2% | 4.8% | -3.0% | 3.2% | — |
| Revenue growth | 31.8% | 24.9% | 8.0% | 4.9% | 15.2% | -17.7% |
| Earnings growth | -18.3% | 152.7% | -549.8% | -145.6% | 720.3% | -51.0% |
| Current ratio | 1.40x | 1.35x | 1.73x | 1.71x | 1.83x | 1.54x |
| Debt to equity | 0.57x | 0.83x | 0.67x | 0.66x | 0.35x | 0.59x |
| Equity ratio | 38.9% | 34.3% | 37.1% | 36.5% | 44.4% | 37.8% |
| Interest coverage | 19.80x | 24.90x | 28.71x | -9.25x | 47.06x | 9.83x |
| Buybacks as a share of market value | -1.4% | -12.6% | -6.5% | -1.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.1% | 16.5% | — |
| Operating income | — | 78.5% | — |
| Net income | — | 103.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.0% | 4.6% | 3.8% | — |
| Net margin | 5.5% | 3.9% | 3.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 16.2 | 11.0 | 33.1 | -29.3 | 25.7 |
| Price to sales | 0.7 | 0.8 | 1.1 | 0.2 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 26 Feb 2026.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 30.00 | 12.00 |
- 1-to-1 reverse split · 7 Aug 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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