C 
312
0.00%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥12.93bn
FY2017FY2026
Net income
−¥3.54bn
FY2017FY2026
Free cash flow
−¥1.16bn
FY2017FY2026
Shareholders' equity
¥12.96bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥12.93bn | ¥11.55bn | ¥13.17bn | ¥13.26bn | ¥15.56bn | ¥13.77bn | ¥15.67bn | ¥16.51bn | ¥17.51bn | ¥18.07bn |
| Gross profit | ¥4.76bn | ¥5.08bn | ¥6.56bn | ¥6.76bn | ¥8.71bn | ¥6.16bn | ¥6.81bn | ¥7.27bn | ¥8.06bn | ¥8.33bn |
| Research and development | — | — | — | — | — | — | ¥84.0m | ¥63.0m | ¥70.0m | ¥118.0m |
| Operating income | −¥1.11bn | −¥961.0m | ¥558.0m | ¥252.0m | ¥1.71bn | −¥775.0m | ¥240.0m | ¥364.0m | ¥538.0m | ¥656.0m |
| Net income | −¥3.54bn | −¥1.01bn | ¥585.0m | −¥740.0m | ¥1.02bn | −¥1.33bn | ¥73.0m | ¥223.0m | ¥324.0m | ¥276.0m |
| Diluted earnings per share | -237.71 | -66.83 | 37.47 | -46.73 | 64.16 | -83.93 | 4.61 | 14.08 | 20.46 | 17.32 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥16.95bn | ¥19.27bn | ¥21.40bn | ¥20.50bn | ¥22.16bn | ¥20.65bn | ¥22.56bn | ¥22.22bn | ¥22.03bn | ¥22.51bn |
| Cash and short-term investments | ¥6.05bn | ¥8.31bn | ¥12.70bn | ¥11.24bn | ¥13.25bn | ¥11.11bn | ¥13.04bn | ¥12.59bn | ¥12.37bn | ¥12.41bn |
| Total liabilities | ¥3.92bn | ¥2.42bn | ¥3.07bn | ¥2.69bn | ¥3.34bn | ¥2.70bn | ¥3.16bn | ¥2.73bn | ¥2.54bn | ¥2.97bn |
| Debt | ¥1.01bn | ¥13.0m | ¥26.0m | ¥60.0m | ¥110.0m | ¥176.0m | ¥194.0m | ¥252.0m | ¥195.0m | ¥16.0m |
| Shareholders' equity | ¥12.96bn | ¥16.85bn | ¥18.32bn | ¥17.81bn | ¥18.81bn | ¥17.95bn | ¥19.40bn | ¥19.48bn | ¥19.49bn | ¥19.54bn |
| Shares outstanding | 15m | 15m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥1.03bn | −¥1.80bn | ¥1.51bn | −¥733.0m | ¥3.00bn | −¥1.04bn | ¥1.07bn | ¥709.0m | ¥175.0m | ¥1.15bn |
| Capital spending | −¥131.0m | −¥1.34bn | −¥272.0m | −¥638.0m | −¥565.0m | −¥414.0m | −¥365.0m | −¥149.0m | −¥191.0m | −¥391.0m |
| Free cash flow | −¥1.16bn | −¥3.14bn | ¥1.24bn | −¥1.37bn | ¥2.44bn | −¥1.46bn | ¥705.0m | ¥560.0m | −¥16.0m | ¥758.0m |
| Dividends paid | −¥124.0m | −¥410.0m | −¥126.0m | −¥126.0m | −¥158.0m | −¥158.0m | −¥159.0m | −¥237.0m | −¥241.0m | −¥479.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.77bn | ¥2.61bn | ¥4.19bn | ¥3.05bn | ¥3.08bn | ¥2.38bn | ¥3.45bn | ¥3.06bn |
| Gross profit | ¥1.21bn | ¥713.0m | ¥1.54bn | ¥1.13bn | ¥1.38bn | ¥924.0m | ¥1.57bn | ¥1.38bn |
| Operating income | −¥124.0m | −¥629.0m | ¥29.0m | −¥292.0m | −¥223.0m | −¥686.0m | ¥33.0m | −¥102.0m |
| Net income | −¥123.0m | −¥671.0m | −¥2.49bn | −¥275.0m | −¥104.0m | −¥735.0m | ¥31.0m | −¥94.0m |
| Diluted earnings per share | -8.25 | -45.01 | -164.70 | -18.16 | -6.87 | -48.54 | 1.99 | -6.02 |
| Total assets | ¥16.34bn | ¥16.95bn | ¥17.23bn | ¥19.94bn | ¥19.65bn | ¥19.27bn | ¥19.47bn | ¥19.93bn |
| Cash and short-term investments | ¥5.04bn | ¥6.05bn | ¥6.38bn | ¥6.18bn | ¥7.23bn | ¥8.31bn | ¥9.65bn | ¥10.52bn |
| Debt | ¥393.0m | ¥759.0m | ¥550.0m | ¥549.0m | ¥79.0m | ¥13.0m | ¥11.0m | ¥20.0m |
| Shareholders' equity | ¥12.71bn | ¥12.96bn | ¥13.68bn | ¥16.25bn | ¥16.60bn | ¥16.85bn | ¥17.54bn | ¥17.52bn |
Financial ratios
Data as of 14 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 36.8% | 44.0% | 49.8% | 51.0% | 56.0% | 44.7% | — | — | — | — | — | — |
| Operating margin | -26.5% | -8.4% | 5.2% | -5.1% | 11.1% | -5.6% | — | — | — | — | — | — |
| Net margin | -27.4% | -8.8% | 4.4% | -5.6% | 6.5% | -9.7% | — | — | — | — | — | — |
| Return on equity | -27.3% | -6.0% | 3.2% | -4.2% | 5.4% | -7.4% | — | — | — | — | — | — |
| Return on assets | -20.9% | -5.3% | 2.7% | -3.6% | 4.6% | -6.4% | — | — | — | — | — | — |
| Free cash flow yield | -18.2% | -9.2% | 34.3% | -1.8% | 67.9% | -12.0% | — | — | — | — | — | — |
| Revenue growth | 12.0% | -12.3% | -0.7% | -14.8% | 13.0% | -12.1% | — | — | — | — | — | — |
| Earnings growth | 250.2% | -273.0% | -179.1% | -172.8% | -176.4% | -1920.5% | — | — | — | — | — | — |
| Current ratio | 4.75x | 7.71x | 6.81x | 7.92x | 6.83x | 8.63x | — | — | — | — | — | — |
| Debt to equity | 0.06x | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x | — | — | — | — | — | — |
| Equity ratio | 76.5% | 87.4% | 85.6% | 86.9% | 84.9% | 86.9% | — | — | — | — | — | — |
| Interest coverage | -342.50x | — | — | -0.70x | 1733.00x | -775.00x | 120.00x | 364.00x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.5% | 0.4% | 0.4% | 0.7% | 0.5% | 0.2% |
| Buybacks as a share of market value | 1.5% | 3.0% | 1.4% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.8% | -1.2% | -3.7% |
| Operating income | — | 7.5% | — |
| Net income | 68.6% | 21.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.2% | 45.5% | 47.4% | 46.5% |
| Operating margin | -8.5% | -2.5% | -0.4% | 1.6% |
| Net margin | -18.6% | -9.3% | -6.3% | -1.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.4 | -5.3 | 9.5 | -9.3 | 5.5 | -6.8 | 78.5 | 33.7 | 19.5 | 30.9 |
| Price to sales | 0.4 | 0.5 | 0.4 | 0.5 | 0.4 | 0.7 | 0.4 | 0.5 | 0.4 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 16.00 | 26.00 | 8.00 | 8.00 | 10.00 | 10.00 | 10.00 | 15.00 |
- 1.1-for-1 split · 26 Mar 1993
- 1.3-for-1 split · 26 Mar 1992
- 13-for-10 split · 26 Mar 1991
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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