R 
122
-2.40%
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
¥6.26bn
FY2017FY2026
Net income
−¥225.7m
FY2017FY2026
Free cash flow
−¥132.3m
FY2017FY2026
Shareholders' equity
¥1.37bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥6.26bn | ¥4.73bn | ¥4.09bn | ¥3.10bn | ¥5.46bn | ¥5.69bn | ¥4.34bn | ¥5.34bn | ¥5.24bn | ¥5.71bn |
| Gross profit | ¥372.0m | ¥480.3m | ¥450.1m | ¥530.3m | ¥750.1m | ¥820.5m | ¥766.0m | ¥962.1m | ¥1.11bn | ¥1.59bn |
| Operating income | −¥204.0m | −¥75.6m | −¥185.3m | −¥252.9m | −¥196.6m | ¥83.7m | ¥70.2m | −¥45.5m | −¥59.5m | −¥72.9m |
| Net income | −¥225.7m | −¥86.2m | −¥81.0m | −¥356.2m | −¥228.5m | ¥65.2m | ¥57.6m | −¥40.6m | −¥103.6m | −¥77.5m |
| Diluted earnings per share | -28.76 | -15.32 | -14.86 | -62.17 | -39.88 | 18.99 | 16.89 | -11.91 | -30.38 | -22.74 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥2.27bn | ¥1.89bn | ¥1.92bn | ¥1.57bn | ¥1.89bn | ¥1.23bn | ¥976.0m | ¥1.10bn | ¥1.20bn | ¥1.43bn |
| Cash and short-term investments | ¥679.0m | ¥411.2m | ¥1.09bn | ¥665.5m | ¥1.10bn | ¥541.5m | ¥502.8m | ¥290.5m | ¥80.8m | ¥115.9m |
| Total liabilities | ¥899.8m | ¥1.02bn | ¥865.7m | ¥440.0m | ¥577.4m | ¥533.4m | ¥341.0m | ¥527.4m | ¥581.2m | ¥710.8m |
| Debt | ¥636.7m | ¥876.7m | ¥713.3m | ¥553.3m | ¥187.1m | ¥240.9m | ¥138.3m | ¥125.0m | ¥124.7m | ¥184.6m |
| Shareholders' equity | ¥1.37bn | ¥866.5m | ¥1.05bn | ¥1.13bn | ¥1.31bn | ¥700.1m | ¥634.9m | ¥577.3m | ¥618.0m | ¥721.5m |
| Shares outstanding | 8m | 6m | 5m | 6m | 6m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥128.7m | −¥737.2m | −¥381.1m | −¥396.9m | −¥207.1m | −¥76.6m | ¥66.8m | ¥123.8m | ¥1.5m | −¥61.0m |
| Capital spending | −¥3.5m | −¥6.0m | −¥12.4m | −¥2.0m | −¥930,000 | −¥20.5m | −¥5.5m | −¥6.2m | −¥11.7m | −¥30.2m |
| Free cash flow | −¥132.3m | −¥743.2m | −¥393.5m | −¥398.9m | −¥208.1m | −¥97.1m | ¥61.3m | ¥117.6m | −¥10.1m | −¥91.2m |
Latest quarters
By quarter end
| Jul 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | Jul 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.95bn | ¥2.53bn | ¥441.4m | ¥1.30bn | ¥1.59bn | ¥1.38bn | ¥1.00bn | ¥1.08bn |
| Gross profit | ¥197.3m | ¥107.9m | −¥50.7m | ¥144.9m | −¥71.8m | ¥130.2m | ¥98.0m | ¥104.2m |
| Operating income | ¥39.9m | −¥38.5m | −¥166.9m | ¥15.2m | −¥201.1m | −¥4.2m | −¥28.1m | −¥26.1m |
| Net income | ¥19.8m | −¥58.2m | −¥184.6m | ¥4.1m | −¥235.7m | −¥7.2m | −¥38.1m | −¥30.8m |
| Diluted earnings per share | 2.52 | -7.42 | -32.82 | 0.73 | -41.91 | -1.27 | -7.00 | -5.65 |
| Total assets | ¥2.74bn | ¥2.30bn | ¥2.27bn | ¥1.80bn | ¥1.63bn | ¥2.01bn | ¥1.89bn | ¥2.00bn |
| Cash and short-term investments | ¥867.7m | ¥436.8m | ¥679.0m | ¥817.2m | ¥659.9m | ¥174.0m | ¥411.2m | ¥640.8m |
| Debt | ¥240.0m | ¥240.0m | ¥636.7m | ¥240.0m | ¥756.7m | ¥440.0m | ¥440.0m | ¥440.0m |
| Shareholders' equity | ¥1.48bn | ¥1.38bn | ¥1.37bn | ¥671.0m | ¥623.6m | ¥859.3m | ¥866.5m | ¥914.8m |
Financial ratios
Data as of 26 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.9% | 10.1% | 11.0% | 17.1% | 13.7% | 14.4% |
| Operating margin | -2.6% | -1.4% | -4.5% | -8.1% | -3.6% | 1.5% |
| Net margin | -3.6% | -1.8% | -2.0% | -11.5% | -4.2% | 1.1% |
| Return on equity | -16.5% | -9.9% | -7.7% | -31.4% | -17.4% | 9.3% |
| Return on assets | -9.9% | -4.6% | -4.2% | -22.6% | -12.1% | 5.3% |
| Free cash flow yield | -8.4% | -68.8% | -35.8% | -36.5% | -19.0% | -8.7% |
| Revenue growth | 32.3% | 15.7% | 31.8% | -43.1% | -4.2% | 31.2% |
| Earnings growth | 161.9% | 6.4% | -77.3% | 55.9% | -450.7% | 13.2% |
| Current ratio | 4.73x | 3.37x | 2.54x | 5.71x | 4.85x | 2.42x |
| Debt to equity | 0.47x | 1.01x | 0.68x | 0.49x | 0.14x | 0.34x |
| Equity ratio | 60.3% | 45.9% | 54.9% | 72.0% | 69.4% | 56.8% |
| Interest coverage | -17.08x | -7.84x | -25.96x | -48.44x | -34.81x | 11.92x |
| Buybacks as a share of market value | -39.5% | -3.2% | 4.9% | 0.0% | -67.5% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 26.3% | 1.9% | -0.2% |
| Operating income | -6.9% | — | — |
| Net income | -14.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.8% | 10.1% | 11.6% | 17.0% |
| Operating margin | -2.5% | -3.9% | -2.8% | -1.6% |
| Net margin | -2.8% | -4.1% | -3.1% | -1.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.3 | -26.4 | -20.1 | -6.8 | -6.3 | 20.8 | 19.4 | -43.0 | -14.8 | -16.1 |
| Price to sales | 0.2 | 0.5 | 0.4 | 0.8 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Apr 2006.
| FY2006 | |
|---|---|
| Paid in the year | 44.00 |
- 100-for-1 split · 29 Oct 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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