M 
530
+4.74%
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
¥15.67bn
FY2020FY2025
Net income
¥195.1m
FY2020FY2025
Free cash flow
¥697.4m
FY2020FY2025
Shareholders' equity
¥3.53bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥15.67bn | ¥13.71bn | ¥12.87bn | ¥12.23bn | ¥11.67bn | ¥10.92bn |
| Gross profit | ¥4.81bn | ¥4.08bn | ¥4.13bn | ¥3.79bn | ¥3.00bn | ¥3.01bn |
| Research and development | — | ¥700,000 | ¥5.0m | ¥17.0m | — | — |
| Operating income | ¥613.1m | ¥307.5m | ¥833.4m | ¥627.0m | ¥186.3m | ¥264.9m |
| Net income | ¥195.1m | ¥282.7m | ¥565.3m | ¥496.4m | −¥38.9m | ¥43.5m |
| Diluted earnings per share | 6.97 | 10.21 | 19.95 | 18.01 | -1.57 | 1.58 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥9.18bn | ¥8.42bn | ¥6.84bn | ¥5.93bn | ¥5.38bn | ¥4.90bn |
| Cash and short-term investments | ¥2.51bn | ¥2.48bn | ¥2.98bn | ¥3.30bn | ¥2.16bn | ¥1.93bn |
| Total liabilities | ¥5.28bn | ¥4.52bn | ¥3.11bn | ¥3.05bn | ¥3.91bn | ¥4.03bn |
| Debt | ¥2.72bn | ¥2.47bn | ¥1.19bn | ¥918.4m | ¥938.2m | ¥1.11bn |
| Shareholders' equity | ¥3.53bn | ¥3.28bn | ¥3.11bn | ¥2.32bn | ¥928.7m | ¥549.7m |
| Shares outstanding | 28m | 28m | 28m | 28m | 25m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | ¥781.7m | ¥338.3m | ¥266.4m | ¥714.0m | ¥31.4m | ¥620.1m |
| Capital spending | −¥84.3m | −¥453.6m | −¥477.1m | −¥308.7m | −¥143.0m | −¥85.5m |
| Free cash flow | ¥697.4m | −¥115.2m | −¥210.7m | ¥405.2m | −¥111.6m | ¥534.6m |
| Dividends paid | — | — | −¥273.2m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥4.81bn | ¥5.08bn | ¥4.56bn | ¥3.99bn | ¥3.50bn | ¥4.31bn | ¥3.87bn | ¥3.39bn |
| Gross profit | ¥1.41bn | ¥1.58bn | ¥1.50bn | ¥1.28bn | ¥1.08bn | ¥1.28bn | ¥1.17bn | ¥1.01bn |
| Operating income | ¥84.8m | ¥379.0m | ¥398.3m | ¥98.2m | ¥82.7m | ¥309.3m | ¥123.0m | −¥46.3m |
| Net income | −¥6.9m | ¥287.1m | ¥304.9m | ¥104.2m | ¥63.0m | ¥50.2m | −¥22.0m | −¥4.0m |
| Diluted earnings per share | -0.25 | 10.42 | 10.89 | 3.72 | 2.25 | 1.79 | -0.79 | -0.14 |
| Cash from operations | — | — | — | ¥781.0m | — | — | — | — |
| Capital spending | — | — | — | −¥84.0m | — | — | — | — |
| Free cash flow | — | — | — | ¥697.0m | — | — | — | — |
| Total assets | ¥10.49bn | ¥10.70bn | ¥9.88bn | ¥9.18bn | ¥8.60bn | ¥9.08bn | ¥8.56bn | ¥8.42bn |
| Cash and short-term investments | ¥3.33bn | ¥3.01bn | ¥2.68bn | ¥2.51bn | ¥2.36bn | ¥2.11bn | ¥2.00bn | ¥2.48bn |
| Debt | ¥2.92bn | ¥3.57bn | ¥2.88bn | ¥2.71bn | ¥2.50bn | ¥2.69bn | ¥2.50bn | ¥2.23bn |
| Shareholders' equity | ¥4.04bn | ¥3.98bn | ¥3.87bn | ¥3.53bn | ¥3.42bn | ¥3.39bn | ¥3.30bn | ¥3.28bn |
Financial ratios
Data as of 24 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 30.7% | 29.8% | 32.1% | 31.0% | 25.7% | 27.5% |
| Operating margin | 3.9% | 2.7% | 6.5% | 5.1% | 1.6% | 2.4% |
| Net margin | 1.2% | 2.1% | 4.4% | 4.1% | -0.3% | 0.4% |
| Return on equity | 5.5% | 8.6% | 18.2% | 21.4% | -4.2% | 7.9% |
| Return on assets | 2.1% | 3.4% | 8.3% | 8.4% | -0.7% | 0.9% |
| Free cash flow yield | 4.7% | 4.4% | 4.0% | 5.7% | 1.1% | — |
| Revenue growth | 14.3% | 6.6% | 5.2% | 4.8% | 6.9% | — |
| Earnings growth | -31.0% | -50.0% | 13.9% | -1377.3% | -189.4% | — |
| Current ratio | 1.07x | 1.18x | 1.65x | 1.68x | 1.38x | 1.20x |
| Debt to equity | 0.77x | 0.74x | 0.38x | 0.39x | 0.98x | 2.00x |
| Equity ratio | 38.5% | 39.0% | 45.4% | 39.2% | 17.3% | 11.2% |
| Interest coverage | 24.82x | 33.38x | 174.83x | 56.95x | 21.44x | 20.74x |
| R&D as a share of sales | — | 0.0% | 0.0% | 0.1% | — | — |
| Buybacks as a share of market value | -1.1% | 2.3% | -2.8% | -11.5% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.6% | 7.5% | — |
| Operating income | -0.7% | 18.3% | — |
| Net income | -26.8% | 35.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.2% | 30.8% | 29.6% | — |
| Operating margin | 3.1% | 4.4% | 3.7% | — |
| Net margin | 1.6% | 2.8% | 2.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 97.5 | 22.2 | 31.8 | 31.0 |
| Price to sales | 1.2 | 0.5 | 1.4 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-for-1 split · 28 Sept 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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