M 
211
+1.44%
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
¥1.85bn
FY2017FY2026
Net income
−¥105.9m
FY2017FY2026
Free cash flow
−¥101.5m
FY2017FY2026
Shareholders' equity
¥413.5m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.85bn | ¥1.84bn | ¥1.88bn | ¥1.90bn | ¥1.85bn | ¥1.81bn | ¥1.72bn | ¥1.97bn | ¥2.07bn | ¥1.86bn |
| Gross profit | ¥473.0m | ¥497.5m | ¥525.6m | ¥560.5m | ¥544.5m | ¥450.3m | ¥427.0m | ¥564.8m | ¥620.4m | ¥467.3m |
| Operating income | −¥52.2m | −¥9.7m | ¥25.1m | ¥54.5m | ¥32.5m | −¥53.3m | −¥66.6m | ¥68.7m | ¥42.0m | −¥39.3m |
| Net income | −¥105.9m | −¥17.6m | ¥12.6m | ¥24.0m | ¥16.9m | −¥79.1m | −¥114.6m | ¥39.2m | ¥25.9m | −¥127.4m |
| Diluted earnings per share | -9.17 | -1.53 | 1.09 | 2.09 | 1.47 | -6.89 | -10.11 | 3.46 | 2.33 | -12.18 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥1.87bn | ¥1.77bn | ¥1.86bn | ¥1.84bn | ¥1.81bn | ¥1.73bn | ¥1.64bn | ¥1.60bn | ¥1.54bn | ¥1.36bn |
| Cash and short-term investments | ¥505.1m | ¥573.5m | ¥602.8m | ¥606.5m | ¥571.7m | ¥521.5m | ¥417.7m | ¥441.4m | ¥305.2m | ¥228.3m |
| Total liabilities | ¥1.46bn | ¥1.27bn | ¥1.30bn | ¥1.33bn | ¥1.32bn | ¥1.24bn | ¥1.10bn | ¥950.9m | ¥926.8m | ¥777.2m |
| Debt | ¥265.0m | ¥127.5m | ¥142.5m | ¥178.6m | ¥224.5m | ¥225.5m | ¥162.2m | ¥77.3m | ¥86.0m | ¥100.0m |
| Shareholders' equity | ¥413.5m | ¥505.8m | ¥562.1m | ¥516.1m | ¥487.5m | ¥496.7m | ¥536.1m | ¥651.9m | ¥612.2m | ¥586.3m |
| Shares outstanding | 12m | 12m | 12m | 11m | 11m | 11m | 11m | 11m | 11m | 10m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥71.5m | ¥29.4m | ¥47.2m | ¥73.7m | ¥26.8m | ¥72.6m | −¥82.3m | ¥145.0m | ¥113.0m | −¥24.0m |
| Capital spending | −¥30.1m | −¥2.9m | −¥4.5m | −¥7.4m | −¥2.4m | −¥13.1m | −¥15.0m | −¥35.0m | −¥4.0m | −¥44.0m |
| Free cash flow | −¥101.5m | ¥26.5m | ¥42.8m | ¥66.3m | ¥24.4m | ¥59.5m | −¥97.3m | ¥110.0m | ¥109.0m | −¥68.0m |
| Dividends paid | −¥5.8m | −¥11.6m | — | — | — | — | −¥2.3m | −¥2.0m | −¥2.0m | −¥34.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥469.1m | ¥436.1m | ¥489.1m | ¥456.2m | ¥456.6m | ¥428.2m | ¥483.0m | ¥476.0m |
| Gross profit | ¥112.8m | ¥103.6m | ¥132.8m | ¥117.3m | ¥119.5m | ¥105.3m | ¥140.0m | ¥129.0m |
| Operating income | −¥26.2m | −¥26.3m | ¥15.2m | −¥14.9m | −¥12.7m | −¥12.1m | ¥23.8m | −¥8.0m |
| Net income | −¥77.8m | −¥26.8m | ¥13.8m | −¥15.0m | −¥17.7m | −¥10.4m | ¥19.0m | −¥9.0m |
| Diluted earnings per share | -6.74 | -2.32 | 1.19 | -1.30 | -1.53 | -0.91 | 1.63 | -0.77 |
| Total assets | ¥1.87bn | ¥1.84bn | ¥2.14bn | ¥1.71bn | ¥1.77bn | ¥1.82bn | ¥2.06bn | ¥1.76bn |
| Cash and short-term investments | ¥505.1m | ¥494.6m | ¥569.4m | ¥565.1m | ¥573.5m | ¥570.0m | ¥609.2m | ¥565.9m |
| Debt | ¥256.7m | ¥156.7m | ¥147.9m | ¥110.5m | ¥112.5m | ¥114.4m | ¥135.3m | ¥114.4m |
| Shareholders' equity | ¥413.5m | ¥495.3m | ¥520.0m | ¥502.5m | ¥505.8m | ¥521.6m | ¥549.2m | ¥530.8m |
Financial ratios
Data as of 26 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2006 | FY2005 | FY2004 | FY2003 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 25.6% | 27.0% | 28.0% | 29.5% | 29.4% | 24.8% | — | — | — | — |
| Operating margin | -2.8% | -0.5% | 1.3% | 2.3% | 2.0% | -2.4% | — | — | — | — |
| Net margin | -5.7% | -1.0% | 0.7% | 1.3% | 0.9% | -4.4% | — | — | — | — |
| Return on equity | -25.6% | -3.5% | 2.2% | 4.7% | 3.5% | -15.9% | — | — | — | — |
| Return on assets | -5.7% | -1.0% | 0.7% | 1.3% | 0.9% | -4.6% | — | — | — | — |
| Free cash flow yield | -1.7% | 1.3% | 2.1% | 3.3% | 1.2% | 3.5% | — | — | — | — |
| Revenue growth | 0.3% | -1.8% | -1.3% | 2.9% | 1.9% | 5.6% | — | — | — | — |
| Earnings growth | 500.8% | -239.5% | -47.4% | 42.2% | -121.3% | -30.9% | — | — | — | — |
| Current ratio | 1.18x | 1.33x | 1.37x | 1.36x | 1.34x | 1.32x | — | — | — | — |
| Debt to equity | 0.64x | 0.22x | 0.25x | 0.35x | 0.46x | 0.45x | — | — | — | — |
| Equity ratio | 22.1% | 28.5% | 30.3% | 28.0% | 27.0% | 28.7% | — | — | — | — |
| Interest coverage | -22.16x | -5.38x | 12.60x | 18.75x | 14.33x | -25.12x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.1% |
| Buybacks as a share of market value | 0.0% | 0.9% | -1.3% | 0.0% | 0.0% | -1.4% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.9% | 0.4% | 0.6% |
| Operating income | — | -0.4% | — |
| Net income | — | 6.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.3% | 27.5% | 27.4% | 27.3% |
| Operating margin | -1.7% | 0.2% | -0.0% | 0.1% |
| Net margin | -3.3% | -1.2% | -1.3% | -1.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -22.9 | -144.1 | 177.9 | 94.8 | 108.2 | -22.6 | -19.1 | 67.9 | 97.0 | -21.6 |
| Price to sales | 1.3 | 1.4 | 1.2 | 1.2 | 1.0 | 1.0 | 1.3 | 1.4 | 1.2 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 27 Jun 2025.
| FY2025 | FY2020 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.50 | 0.20 | 3.00 | 3.00 | 3.00 | 2.50 | 2.00 | 1.50 |
- 100-for-1 split · 26 Jun 2013
- 10-for-1 split · 25 Dec 2003
- 2-for-1 split · 27 Jun 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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