B 
1,498
+2.67%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥5.47bn
FY2017FY2026
Net income
¥619.5m
FY2017FY2026
Free cash flow
¥1.36bn
FY2017FY2026
Shareholders' equity
¥2.99bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥5.47bn | ¥5.17bn | ¥4.41bn | ¥3.05bn | ¥2.09bn | ¥1.28bn | ¥1.36bn | ¥1.44bn | ¥1.33bn | ¥1.11bn |
| Gross profit | ¥4.57bn | ¥4.26bn | ¥3.79bn | ¥2.63bn | ¥1.87bn | ¥1.11bn | ¥980.9m | ¥896.9m | ¥746.4m | ¥527.3m |
| Operating income | ¥1.56bn | ¥1.24bn | ¥916.2m | ¥945.6m | ¥586.6m | ¥281.4m | ¥187.3m | ¥123.5m | ¥122.3m | ¥67.2m |
| Net income | ¥619.5m | ¥250.9m | ¥608.4m | ¥621.6m | ¥349.4m | ¥198.6m | ¥130.8m | ¥82.3m | ¥73.5m | ¥47.8m |
| Diluted earnings per share | 63.21 | 24.65 | 59.16 | 61.71 | 31.76 | 39.72 | 26.17 | 33.03 | 30.56 | 4.87 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥5.58bn | ¥5.11bn | ¥4.86bn | ¥4.33bn | ¥2.33bn | ¥1.67bn | ¥1.26bn | ¥1.13bn | ¥714.5m | ¥513.8m |
| Cash and short-term investments | ¥4.69bn | ¥3.77bn | ¥3.12bn | ¥3.84bn | ¥1.95bn | ¥1.45bn | ¥1.05bn | ¥906.6m | ¥599.1m | ¥372.0m |
| Total liabilities | ¥2.59bn | ¥2.87bn | ¥2.65bn | ¥2.47bn | ¥972.3m | ¥728.4m | ¥449.5m | ¥463.1m | ¥456.3m | ¥329.2m |
| Debt | ¥707.7m | ¥1.02bn | ¥1.41bn | ¥1.51bn | ¥133.5m | ¥409.5m | ¥29.0m | ¥61.1m | ¥93.8m | ¥125.3m |
| Shareholders' equity | ¥2.99bn | ¥2.24bn | ¥2.21bn | ¥1.85bn | ¥1.36bn | ¥945.8m | ¥809.1m | ¥667.8m | ¥258.2m | ¥184.6m |
| Shares outstanding | 10m | 10m | 10m | 10m | 11m | 5m | 5m | 2m | 2m | 10m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥1.40bn | ¥1.59bn | ¥774.3m | ¥835.8m | ¥878.7m | ¥130.2m | ¥201.2m | ¥109.0m | ¥257.0m | ¥257.0m |
| Capital spending | −¥34.1m | −¥130.5m | −¥39.5m | −¥142.2m | −¥71.2m | −¥52.9m | −¥68.8m | −¥4.0m | −¥4.0m | −¥4.0m |
| Free cash flow | ¥1.36bn | ¥1.46bn | ¥734.8m | ¥693.6m | ¥807.6m | ¥77.3m | ¥132.4m | ¥105.0m | ¥253.0m | ¥253.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥770.3m | ¥1.91bn | ¥1.37bn | ¥1.39bn | ¥793.5m | ¥1.83bn | ¥1.38bn | ¥1.43bn |
| Gross profit | ¥683.5m | ¥1.61bn | ¥1.15bn | ¥1.19bn | ¥677.5m | ¥1.44bn | ¥1.13bn | ¥1.19bn |
| Operating income | −¥164.1m | ¥809.0m | ¥710.0m | ¥308.9m | −¥268.1m | ¥672.0m | ¥240.0m | ¥435.0m |
| Net income | −¥107.4m | ¥292.0m | ¥379.6m | ¥179.1m | −¥231.1m | ¥37.0m | ¥147.0m | ¥282.0m |
| Diluted earnings per share | -10.96 | 29.79 | 37.28 | 17.59 | -22.70 | 3.63 | 14.29 | 27.42 |
| Cash from operations | — | — | — | ¥319.0m | — | ¥1.01bn | — | — |
| Capital spending | — | — | — | −¥35.0m | — | −¥128.0m | — | — |
| Free cash flow | — | — | — | ¥284.0m | — | ¥882.0m | — | — |
| Total assets | ¥5.76bn | ¥5.58bn | ¥5.26bn | ¥5.14bn | ¥4.98bn | ¥5.11bn | ¥5.05bn | ¥4.83bn |
| Cash and short-term investments | ¥4.04bn | ¥4.69bn | ¥4.04bn | ¥3.91bn | ¥3.60bn | ¥3.77bn | ¥3.18bn | ¥3.13bn |
| Debt | ¥315.3m | ¥699.9m | ¥362.0m | ¥855.8m | ¥314.3m | ¥1.01bn | ¥358.0m | ¥1.17bn |
| Shareholders' equity | ¥2.82bn | ¥2.99bn | ¥2.62bn | ¥2.23bn | ¥2.03bn | ¥2.24bn | ¥2.18bn | ¥2.01bn |
Financial ratios
Data as of 29 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 83.5% | 82.4% | 85.8% | 86.5% | 89.5% | 86.8% |
| Operating margin | 28.5% | 23.9% | 20.8% | 31.0% | 28.1% | 23.2% |
| Net margin | 11.3% | 4.9% | 13.8% | 20.4% | 16.7% | 15.5% |
| Return on equity | 20.7% | 11.2% | 27.6% | 33.5% | 25.8% | 21.0% |
| Return on assets | 11.1% | 4.9% | 12.5% | 14.4% | 15.0% | 11.9% |
| Free cash flow yield | 10.0% | 11.5% | 5.4% | 6.6% | 5.9% | 2.5% |
| Revenue growth | 5.8% | 17.2% | 44.9% | 45.7% | 63.6% | -6.0% |
| Earnings growth | 146.9% | -58.8% | -2.1% | 77.9% | 75.9% | 51.9% |
| Current ratio | 2.21x | 1.91x | 2.11x | 3.07x | 2.32x | 2.38x |
| Debt to equity | 0.23x | 0.45x | 0.64x | 0.82x | 0.10x | 0.43x |
| Equity ratio | 53.5% | 43.9% | 45.4% | 42.9% | 58.2% | 56.5% |
| Interest coverage | 232.16x | 122.87x | 74.48x | 310.44x | 2022.68x | 275.60x |
| Buybacks as a share of market value | 3.7% | 1.0% | -2.1% | 8.5% | -120.1% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.5% | 33.8% | 19.4% |
| Operating income | 18.2% | 40.8% | 48.0% |
| Net income | -0.1% | 25.6% | 41.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 83.0% | 84.3% | 84.9% | 78.7% |
| Operating margin | 26.3% | 25.7% | 25.7% | 21.9% |
| Net margin | 8.2% | 11.6% | 12.3% | 10.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.7 | 56.8 | 25.9 | 25.5 | 55.6 | 32.9 | 21.0 | 28.1 | 24.6 |
| Price to sales | 2.7 | 2.8 | 3.6 | 5.2 | 9.3 | 5.1 | 2.0 | 1.6 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 30 May 2023
- 2-for-1 split · 28 May 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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