A
314
+2.95%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥2.28bn
FY2020FY2025
Net income
¥22.6m
FY2020FY2025
Free cash flow
−¥138.0m
FY2020FY2025
Shareholders' equity
¥1.68bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | ¥2.28bn | ¥2.12bn | ¥2.59bn | ¥2.81bn | ¥2.19bn | ¥1.25bn |
| Gross profit | ¥567.7m | ¥406.1m | ¥727.5m | ¥1.03bn | ¥795.8m | ¥522.5m |
| Operating income | ¥9.2m | −¥382.6m | ¥129.8m | ¥627.9m | ¥472.7m | ¥300.2m |
| Net income | ¥22.6m | −¥852.1m | ¥75.7m | ¥405.6m | ¥310.8m | ¥197.5m |
| Diluted earnings per share | 3.05 | -115.61 | 10.44 | 57.12 | 41.79 | 26.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | ¥1.94bn | ¥1.94bn | ¥2.76bn | ¥2.85bn | ¥1.14bn | ¥649.1m |
| Cash and short-term investments | ¥1.51bn | ¥1.66bn | ¥1.78bn | ¥2.36bn | ¥604.7m | ¥300.9m |
| Total liabilities | ¥266.2m | ¥283.3m | ¥263.8m | ¥454.1m | ¥474.3m | ¥290.4m |
| Debt | — | — | −¥28.6m | — | — | — |
| Shareholders' equity | ¥1.68bn | ¥1.65bn | ¥2.50bn | ¥2.40bn | ¥669.5m | ¥358.7m |
| Shares outstanding | 7m | 7m | 7m | 7m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −¥138.0m | −¥136.7m | −¥84.1m | ¥433.1m | ¥316.5m | ¥190.5m |
| Capital spending | — | −¥14,000 | −¥303,000 | −¥1.4m | −¥6.2m | −¥27.1m |
| Free cash flow | −¥138.0m | −¥136.7m | −¥84.4m | ¥431.7m | ¥310.4m | ¥163.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥595.4m | ¥591.9m | ¥637.8m | ¥589.8m | ¥489.4m | ¥563.9m | ¥542.7m | ¥560.6m |
| Gross profit | ¥158.8m | ¥167.6m | ¥203.2m | ¥149.8m | ¥78.6m | ¥136.2m | ¥93.5m | ¥116.8m |
| Operating income | ¥51.8m | ¥34.1m | ¥90.4m | ¥14.5m | −¥71.8m | −¥23.9m | −¥85.8m | −¥124.9m |
| Net income | ¥39.7m | ¥29.3m | ¥92.9m | ¥18.0m | −¥73.3m | −¥15.1m | −¥621.8m | −¥92.7m |
| Diluted earnings per share | 5.34 | 3.93 | 12.57 | 2.44 | -9.92 | -2.04 | -84.38 | -12.58 |
| Total assets | ¥2.01bn | ¥1.95bn | ¥1.94bn | ¥1.85bn | ¥1.81bn | ¥1.88bn | ¥1.94bn | ¥2.57bn |
| Cash and short-term investments | ¥1.70bn | ¥1.61bn | ¥1.51bn | ¥1.44bn | ¥1.46bn | ¥1.51bn | ¥1.66bn | ¥1.63bn |
| Shareholders' equity | ¥1.74bn | ¥1.70bn | ¥1.68bn | ¥1.59bn | ¥1.56bn | ¥1.64bn | ¥1.65bn | ¥2.31bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 24.9% | 19.1% | 28.1% | 36.8% | 36.4% | 41.8% |
| Operating margin | 0.4% | -18.0% | 5.0% | 22.4% | 21.6% | 24.0% |
| Net margin | 1.0% | -40.2% | 2.9% | 14.5% | 14.2% | 15.8% |
| Return on equity | 1.3% | -51.5% | 3.0% | 16.9% | 46.4% | 55.1% |
| Return on assets | 1.2% | -44.0% | 2.7% | 14.2% | 27.2% | 30.4% |
| Free cash flow yield | — | -5.0% | -3.1% | 16.6% | — | — |
| Revenue growth | 7.5% | -18.1% | -7.7% | 28.3% | 75.2% | — |
| Earnings growth | -102.6% | -1226.0% | -81.3% | 30.5% | 57.4% | — |
| Current ratio | 7.16x | 6.75x | 8.40x | 6.14x | 2.24x | 2.02x |
| Debt to equity | — | — | -0.01x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 86.3% | 85.4% | 90.4% | 84.1% | 58.5% | 55.3% |
| Buybacks as a share of market value | -0.3% | -1.7% | -2.1% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.7% | 12.8% | — |
| Operating income | -75.6% | -50.2% | — |
| Net income | -61.8% | -35.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.1% | 27.9% | 30.6% | — |
| Operating margin | -8.5% | 3.9% | 8.7% | — |
| Net margin | -18.8% | -3.6% | 1.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 93.4 | -2.5 | 41.8 | 30.9 |
| Price to sales | 0.9 | 1.0 | 1.2 | 4.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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