Annual report

Period2024-04-01 → 2025-03-31
Filed2025-06-30
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 143
MetricValuePeriodScopeSource row
Revenue¥702m2024-04-01 → 2025-03-31Cons.Net sales
Revenue¥234m2023-04-01 → 2024-03-31Cons.Net sales
Revenue¥381m2022-04-01 → 2023-03-31vCons.Net sales (5-year summary)
Revenue¥387m2021-04-01 → 2022-03-31vCons.Net sales (5-year summary)
Revenue¥473m2020-04-01 → 2021-03-31dCons.Net sales (5-year summary)
Operating income−¥579m2024-04-01 → 2025-03-31Cons.Operating income
Operating income−¥331m2023-04-01 → 2024-03-31Cons.Operating income
Ordinary income−¥602m2024-04-01 → 2025-03-31Cons.Ordinary income
Ordinary income−¥412m2023-04-01 → 2024-03-31Cons.Ordinary income
Ordinary income−¥546m2022-04-01 → 2023-03-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥620m2021-04-01 → 2022-03-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥401m2020-04-01 → 2021-03-31dCons.Ordinary income loss (5-year summary)
Profit before tax−¥827m2024-04-01 → 2025-03-31Cons.Income before income taxes
Profit before tax−¥496m2023-04-01 → 2024-03-31Cons.Income before income taxes
Net income (owners)−¥835m2024-04-01 → 2025-03-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥489m2023-04-01 → 2024-03-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥904m2022-04-01 → 2023-03-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥1.2bn2021-04-01 → 2022-03-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥758m2020-04-01 → 2021-03-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income−¥833m2024-04-01 → 2025-03-31Cons.Profit loss
Net income−¥503m2023-04-01 → 2024-03-31Cons.Profit loss
Total assets¥2.7bnat 2025-03-31Cons.Assets
Total assets¥1.2bnat 2024-03-31Cons.Assets
Total assets¥1.3bnat 2023-03-31vCons.Total assets (5-year summary)
Total assets¥1.8bnat 2022-03-31vCons.Total assets (5-year summary)
Total assets¥1.4bnat 2021-03-31dCons.Total assets (5-year summary)
Total liabilities¥646mat 2025-03-31Cons.Liabilities
Total liabilities¥1.1bnat 2024-03-31Cons.Liabilities
Net assets / equity¥2.0bnat 2025-03-31Cons.Net assets
Net assets / equity¥153mat 2024-03-31Cons.Net assets
Net assets / equity¥658mat 2023-03-31vCons.Net assets
Net assets / equity¥880mat 2022-03-31vCons.Net assets (5-year summary)
Net assets / equity¥1.0bnat 2021-03-31dCons.Net assets (5-year summary)
Cash and deposits¥256mat 2025-03-31Cons.Cash and deposits
Cash and deposits¥63mat 2024-03-31Cons.Cash and deposits
Cash & equivalents¥256mat 2025-03-31Cons.Cash and cash equivalents
Cash & equivalents¥63mat 2024-03-31Cons.Cash and cash equivalents
Cash & equivalents¥160mat 2023-03-31vCons.Cash and cash equivalents
Cash & equivalents¥76mat 2022-03-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥112mat 2021-03-31dCons.Cash and cash equivalents (5-year summary)
Operating cash flow−¥1.6bn2024-04-01 → 2025-03-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥468m2023-04-01 → 2024-03-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥592m2022-04-01 → 2023-03-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥490m2021-04-01 → 2022-03-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥417m2020-04-01 → 2021-03-31dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥420m2024-04-01 → 2025-03-31Cons.Net cash provided by used in investment activities
Investing cash flow¥99m2023-04-01 → 2024-03-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥2m2022-04-01 → 2023-03-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥681m2021-04-01 → 2022-03-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥39m2020-04-01 → 2021-03-31dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥2.2bn2024-04-01 → 2025-03-31Cons.Net cash provided by used in financing activities
Financing cash flow¥272m2023-04-01 → 2024-03-31Cons.Net cash provided by used in financing activities
Financing cash flow¥677m2022-04-01 → 2023-03-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥1.1bn2021-04-01 → 2022-03-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥420m2020-04-01 → 2021-03-31dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥-2.992024-04-01 → 2025-03-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-3.492023-04-01 → 2024-03-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-7.822022-04-01 → 2023-03-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-12.732021-04-01 → 2022-03-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-10.772020-04-01 → 2021-03-31dCons.Basic earnings loss per share (5-year summary)
Net assets per share¥6.75at 2025-03-31Cons.Net assets per share (5-year summary)
Net assets per share¥1.05at 2024-03-31Cons.Net assets per share (5-year summary)
Net assets per share¥4.7at 2023-03-31vCons.Net assets per share (5-year summary)
Net assets per share¥7.94at 2022-03-31vCons.Net assets per share (5-year summary)
Net assets per share¥13.09at 2021-03-31dCons.Net assets per share (5-year summary)
Equity ratio75.0%at 2025-03-31Cons.Equity to asset ratio (5-year summary)
Equity ratio12.2%at 2024-03-31Cons.Equity to asset ratio (5-year summary)
Equity ratio49.1%at 2023-03-31vCons.Equity to asset ratio (5-year summary)
Equity ratio48.9%at 2022-03-31vCons.Equity to asset ratio (5-year summary)
Equity ratio75.2%at 2021-03-31dCons.Equity to asset ratio (5-year summary)
ROE-77.1%2024-04-01 → 2025-03-31Cons.Rate of return on equity (5-year summary)
ROE-122.5%2023-04-01 → 2024-03-31Cons.Rate of return on equity (5-year summary)
ROE-118.7%2022-04-01 → 2023-03-31vCons.Rate of return on equity (5-year summary)
ROE-130.3%2021-04-01 → 2022-03-31vCons.Rate of return on equity (5-year summary)
ROE-71.8%2020-04-01 → 2021-03-31dCons.Rate of return on equity (5-year summary)
Employees19at 2025-03-31Cons.Number of employees
Employees40at 2024-03-31Cons.Number of employees
Employees31at 2023-03-31vCons.Number of employees
Employees28at 2022-03-31vCons.Number of employees
Employees26at 2021-03-31dCons.Number of employees
Revenue¥25m2024-04-01 → 2025-03-31StandaloneNet sales
Revenue¥62m2023-04-01 → 2024-03-31StandaloneNet sales
Revenue¥16m2022-04-01 → 2023-03-31vStandaloneNet sales (5-year summary)
Revenue¥57m2021-04-01 → 2022-03-31vStandaloneNet sales (5-year summary)
Revenue¥10m2020-04-01 → 2021-03-31dStandaloneNet sales (5-year summary)
Operating income−¥386m2024-04-01 → 2025-03-31StandaloneOperating income
Operating income−¥228m2023-04-01 → 2024-03-31StandaloneOperating income
Ordinary income−¥366m2024-04-01 → 2025-03-31StandaloneOrdinary income
Ordinary income−¥271m2023-04-01 → 2024-03-31StandaloneOrdinary income
Ordinary income−¥360m2022-04-01 → 2023-03-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥501m2021-04-01 → 2022-03-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥381m2020-04-01 → 2021-03-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥507m2024-04-01 → 2025-03-31StandaloneIncome before income taxes
Profit before tax−¥707m2023-04-01 → 2024-03-31StandaloneIncome before income taxes
Net income−¥509m2024-04-01 → 2025-03-31StandaloneProfit loss
Net income−¥710m2023-04-01 → 2024-03-31StandaloneProfit loss
Net income−¥646m2022-04-01 → 2023-03-31vStandaloneNet income loss (5-year summary)
Net income−¥1.2bn2021-04-01 → 2022-03-31vStandaloneNet income loss (5-year summary)
Net income−¥929m2020-04-01 → 2021-03-31dStandaloneNet income loss (5-year summary)
Total assets¥2.4bnat 2025-03-31StandaloneAssets
Total assets¥872mat 2024-03-31StandaloneAssets
Total assets¥1.3bnat 2023-03-31vStandaloneTotal assets (5-year summary)
Total assets¥1.6bnat 2022-03-31vStandaloneTotal assets (5-year summary)
Total assets¥1.3bnat 2021-03-31dStandaloneTotal assets (5-year summary)
Total liabilities¥74mat 2025-03-31StandaloneLiabilities
Total liabilities¥731mat 2024-03-31StandaloneLiabilities
Net assets / equity¥2.3bnat 2025-03-31StandaloneNet assets
Net assets / equity¥141mat 2024-03-31StandaloneNet assets
Net assets / equity¥767mat 2023-03-31vStandaloneNet assets
Net assets / equity¥822mat 2022-03-31vStandaloneNet assets (5-year summary)
Net assets / equity¥991mat 2021-03-31dStandaloneNet assets (5-year summary)
Cash and deposits¥237mat 2025-03-31StandaloneCash and deposits
Cash and deposits¥41mat 2024-03-31StandaloneCash and deposits
EPS (basic)¥-1.822024-04-01 → 2025-03-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-5.072023-04-01 → 2024-03-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-5.592022-04-01 → 2023-03-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-12.662021-04-01 → 2022-03-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-13.212020-04-01 → 2021-03-31dStandaloneBasic earnings loss per share (5-year summary)
Net assets per share¥7.72at 2025-03-31StandaloneNet assets per share (5-year summary)
Net assets per share¥0.96at 2024-03-31StandaloneNet assets per share (5-year summary)
Net assets per share¥5.51at 2023-03-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥7.41at 2022-03-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥12.38at 2021-03-31dStandaloneNet assets per share (5-year summary)
Equity ratio96.3%at 2025-03-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio15.6%at 2024-03-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio56.7%at 2023-03-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio49.5%at 2022-03-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio77.7%at 2021-03-31dStandaloneEquity to asset ratio (5-year summary)
ROE-41.7%2024-04-01 → 2025-03-31StandaloneRate of return on equity (5-year summary)
ROE-154.3%2023-04-01 → 2024-03-31StandaloneRate of return on equity (5-year summary)
ROE-81.9%2022-04-01 → 2023-03-31vStandaloneRate of return on equity (5-year summary)
ROE-137.8%2021-04-01 → 2022-03-31vStandaloneRate of return on equity (5-year summary)
ROE-85.6%2020-04-01 → 2021-03-31dStandaloneRate of return on equity (5-year summary)
Shares issued298,626,993at 2025-03-31StandaloneTotal number of issued shares (5-year summary)
Shares issued141,556,993at 2024-03-31StandaloneTotal number of issued shares (5-year summary)
Shares issued138,232,538at 2023-03-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued110,049,844at 2022-03-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued79,413,244at 2021-03-31dStandaloneTotal number of issued shares (5-year summary)
Employees3at 2025-03-31StandaloneNumber of employees
Employees3at 2024-03-31StandaloneNumber of employees
Employees4at 2023-03-31vStandaloneNumber of employees
Employees4at 2022-03-31vStandaloneNumber of employees
Employees3at 2021-03-31dStandaloneNumber of employees

Periods use the dates stated in the filing. d = earlier-year period dated by calendar; v = that date confirmed by the company's own earlier filing.

Segments · 32
SegmentItemPeriodValue
Reconciling Itemsreconcilingcapex2024-04-01 → 2025-03-31¥35m
Reconciling Itemsreconcilingdepreciation2024-04-01 → 2025-03-31¥11m
Reconciling Itemsreconcilingsegment assetsat 2025-03-31¥283m
Investmentreportable segmentcapex2024-04-01 → 2025-03-31¥249m
Investmentreportable segmentdepreciation2024-04-01 → 2025-03-31¥21m
Investmentreportable segmentrevenue2024-04-01 → 2025-03-31¥702m
Investmentreportable segmentrevenue external2024-04-01 → 2025-03-31¥702m
Investmentreportable segmentsegment assetsat 2025-03-31¥2.4bn
Investmentreportable segmentsegment profit2024-04-01 → 2025-03-31−¥579m
—segment totalcapex2024-04-01 → 2025-03-31¥249m
—segment totaldepreciation2024-04-01 → 2025-03-31¥21m
—segment totalemployeesat 2025-03-3116 pure
—segment totalrevenue2024-04-01 → 2025-03-31¥702m
—segment totalrevenue external2024-04-01 → 2025-03-31¥702m
—segment totalsegment assetsat 2025-03-31¥2.4bn
—segment totalsegment profit2024-04-01 → 2025-03-31−¥579m
Reconciling Itemsreconcilingcapex2023-04-01 → 2024-03-31¥7m
Reconciling Itemsreconcilingdepreciation2023-04-01 → 2024-03-31¥683,000
Reconciling Itemsreconcilingsegment assetsat 2024-03-31¥53m
Investmentreportable segmentcapex2023-04-01 → 2024-03-31−¥303m
Investmentreportable segmentdepreciation2023-04-01 → 2024-03-31¥15m
Investmentreportable segmentrevenue2023-04-01 → 2024-03-31¥234m
Investmentreportable segmentrevenue external2023-04-01 → 2024-03-31¥234m
Investmentreportable segmentsegment assetsat 2024-03-31¥1.2bn
Investmentreportable segmentsegment profit2023-04-01 → 2024-03-31−¥331m
—segment totalcapex2023-04-01 → 2024-03-31−¥303m
—segment totaldepreciation2023-04-01 → 2024-03-31¥15m
—segment totalrevenue2023-04-01 → 2024-03-31¥234m
—segment totalrevenue external2023-04-01 → 2024-03-31¥234m
—segment totalsegment assetsat 2024-03-31¥1.2bn
—segment totalsegment profit2023-04-01 → 2024-03-31−¥331m
—segment totalemployeesat 2025-03-310 pure

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,526
ItemContextValueUnit
Independent auditors report consolidated (text)FilingDateInstantText · Plus
Audit firm1 consolidatedFilingDateInstant
Original text (Japanese)柴田公認会計士事務所
Cpa1 audit firm1 consolidatedFilingDateInstant
Original text (Japanese)柴 田 洋
Audit firm2 consolidatedFilingDateInstant
Original text (Japanese)大瀧公認会計士事務所
Cpa1 audit firm2 consolidatedFilingDateInstant
Original text (Japanese)大 瀧 秀 樹
Key audit matters consolidated (text)FilingDateInstantText · Plus
Overview kam consolidated (text)FilingDateInstantText · Plus
Short description kam consolidatedFilingDateInstant_Row1Member
Original text (Japanese)熊本県球磨郡五木村の山林の取得価額及び評価の妥当性について
Description including reason kam consolidated (text)FilingDateInstant_Row1MemberText · Plus
Auditors response kam consolidated (text)FilingDateInstant_Row1MemberText · Plus
Other information consolidated (text)FilingDateInstantText · Plus
Fee related information consolidated (text)FilingDateInstantText · Plus
Independent auditors report non consolidated (text)FilingDateInstantText · Plus
Audit firm1 non consolidatedFilingDateInstant
Original text (Japanese)柴田公認会計士事務所
Cpa1 audit firm1 non consolidatedFilingDateInstant
Original text (Japanese)柴 田 洋
Audit firm2 non consolidatedFilingDateInstant
Original text (Japanese)大瀧公認会計士事務所
Cpa1 audit firm2 non consolidatedFilingDateInstant
Original text (Japanese)大 瀧 秀 樹
Key audit matters non consolidated (text)FilingDateInstantText · Plus
Overview kam non consolidated (text)FilingDateInstantText · Plus
Short description kam non consolidatedFilingDateInstant_Row1Member
Original text (Japanese)熊本県球磨郡五木村の山林の取得価額及び評価の妥当性について
Same as kam for consolidated fskam non consolidated (text)FilingDateInstant_Row1MemberText · Plus
Other information non consolidated (text)FilingDateInstantText · Plus
Fee related information non consolidated (text)FilingDateInstantText · Plus
Number of submissionFilingDateInstant1
Net sales (5-year summary)Prior4YearDuration473473000JPY
Net sales (5-year summary)Prior3YearDuration386592000JPY
Net sales (5-year summary)Prior2YearDuration381431000JPY
Net sales (5-year summary)Prior1YearDuration234489000JPY
Net sales (5-year summary)CurrentYearDuration701607000JPY
Ordinary income loss (5-year summary)Prior4YearDuration-401217000JPY
Ordinary income loss (5-year summary)Prior3YearDuration-620001000JPY
Ordinary income loss (5-year summary)Prior2YearDuration-546424000JPY
Ordinary income loss (5-year summary)Prior1YearDuration-412419000JPY
Ordinary income loss (5-year summary)CurrentYearDuration-601764000JPY
Profit loss attributable to owners of parent (5-year summary)Prior4YearDuration-757500000JPY
Profit loss attributable to owners of parent (5-year summary)Prior3YearDuration-1246318000JPY
Profit loss attributable to owners of parent (5-year summary)Prior2YearDuration-904221000JPY
Profit loss attributable to owners of parent (5-year summary)Prior1YearDuration-489197000JPY
Profit loss attributable to owners of parent (5-year summary)CurrentYearDuration-835207000JPY
Comprehensive income (5-year summary)Prior4YearDuration-753112000JPY
Comprehensive income (5-year summary)Prior3YearDuration-1241552000JPY
Comprehensive income (5-year summary)Prior2YearDuration-913032000JPY
Comprehensive income (5-year summary)Prior1YearDuration-509473000JPY
Comprehensive income (5-year summary)CurrentYearDuration-820609000JPY
Net assets (5-year summary)Prior4YearInstant1048415000JPY
Net assets (5-year summary)Prior3YearInstant879771000JPY
Net assets (5-year summary)Prior2YearInstant658384000JPY
Net assets (5-year summary)Prior1YearInstant153326000JPY
Net assets (5-year summary)CurrentYearInstant2039725000JPY
Total assets (5-year summary)Prior4YearInstant1382890000JPY

Every row of the EDINET CSV. Item names are the XBRL element names; filed text is kept in its original Japanese. Filed text is available on Plus and Pro.

Data checks · 24 of 24 passed
balance sheet identityconsolidated 2024-03-31pass
balance sheet identityconsolidated 2025-03-31pass
balance sheet identitynon_consolidated 2024-03-31pass rounding
balance sheet identitynon_consolidated 2025-03-31pass
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-03-31pass
statement vs summary · net assetsconsolidated 2024-03-31pass
statement vs summary · net assetsconsolidated 2025-03-31pass
statement vs summary · net assetsnon_consolidated 2023-03-31pass
statement vs summary · net assetsnon_consolidated 2024-03-31pass
statement vs summary · net assetsnon_consolidated 2025-03-31pass
statement vs summary · net income attributable to parentconsolidated 2023-04-01/2024-03-31pass
statement vs summary · net income attributable to parentconsolidated 2024-04-01/2025-03-31pass
statement vs summary · operating cash flowconsolidated 2023-04-01/2024-03-31pass
statement vs summary · operating cash flowconsolidated 2024-04-01/2025-03-31pass
statement vs summary · revenueconsolidated 2023-04-01/2024-03-31pass
statement vs summary · revenueconsolidated 2024-04-01/2025-03-31pass
statement vs summary · revenuenon_consolidated 2023-04-01/2024-03-31pass
statement vs summary · revenuenon_consolidated 2024-04-01/2025-03-31pass
statement vs summary · total assetsconsolidated 2024-03-31pass
statement vs summary · total assetsconsolidated 2025-03-31pass
statement vs summary · total assetsnon_consolidated 2024-03-31pass
statement vs summary · total assetsnon_consolidated 2025-03-31pass