Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-26

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 148

Metric	Value	Period	Scope	Source row
Revenue	¥4.5bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥4.7bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥4.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥4.8bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥5.1bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	¥375m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥480m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥325m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥432m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥352m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥392m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥448m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥349m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥426m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥231m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥296m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥173m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥237m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥271m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥231m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥296m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥8.8bn	at 2025-12-31	Cons.	Assets
Total assets	¥9.3bn	at 2024-12-31	Cons.	Assets
Total assets	¥9.2bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥8.8bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥9.0bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥5.0bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥5.7bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥3.7bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥3.6bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥3.5bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥3.4bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥3.3bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥2.5bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥2.7bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥2.2bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.5bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.5bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.6bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥2.7bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥386m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥343m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥179m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥27m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥752m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥94m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥46m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥25m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥26m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥48m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥619m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥246m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥65m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥76m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥482m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥25.51	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥32.7	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥19.06	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥26.11	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥29.88	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
Net assets per share	¥411.73	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥400.71	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥381.29	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥374.8	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥363.67	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	42.6%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	38.9%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	37.5%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	38.6%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	36.8%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	6.3%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	8.4%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	5.0%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	7.1%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	8.4%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	154	at 2025-12-31	Cons.	Number of employees
Employees	155	at 2024-12-31	Cons.	Number of employees
Employees	159	at 2023-12-31^v	Cons.	Number of employees
Employees	158	at 2022-12-31^v	Cons.	Number of employees
Employees	161	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥4.0bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥4.2bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥4.1bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥4.3bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥4.5bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	¥205m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥298m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥220m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥306m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥249m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥251m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥333m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥207m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥300m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥133m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥197m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	¥131m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥101m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥184m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥3.3bn	at 2025-12-31	Standalone	Assets
Total assets	¥3.5bn	at 2024-12-31	Standalone	Assets
Total assets	¥3.5bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.3bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.6bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥516m	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥715m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥2.8bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥2.8bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥2.7bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥2.7bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥2.8bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥2.2bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥2.4bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥14.68	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥21.78	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥14.49	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥11.14	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥20.33	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
Dividend per share	¥16	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥14	2024-01-01 → 2024-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥14	2023-01-01 → 2023-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥13	2022-01-01 → 2022-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥12	2021-01-01 → 2021-12-31^d	Standalone	Dividend paid per share (5-year summary)
Net assets per share	¥308.79	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥308.2	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥300.22	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥298.44	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥303.65	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	84.4%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	79.6%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	78.5%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	81.3%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	75.9%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	4.8%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	7.2%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	4.8%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	3.7%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	6.8%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	9,134,000	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,134,000	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,134,000	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,134,000	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,134,000	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	101	at 2025-12-31	Standalone	Number of employees
Employees	104	at 2024-12-31	Standalone	Number of employees
Employees	107	at 2023-12-31^v	Standalone	Number of employees
Employees	107	at 2022-12-31^v	Standalone	Number of employees
Employees	107	at 2021-12-31^d	Standalone	Number 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.

All source rows · 1,305

Item	Context	Value	Unit
Increase decrease in operating accounts payable ope cf	CurrentYearDuration	5457000	JPY
Increase decrease in accounts payable other ope cf	Prior1YearDuration	9175000	JPY
Increase decrease in accounts payable other ope cf	CurrentYearDuration	3019000	JPY
Increase decrease in accrued expenses ope cf	Prior1YearDuration	73428000	JPY
Increase decrease in accrued expenses ope cf	CurrentYearDuration	-94388000	JPY
Increase decrease in contract liabilities ope cf	Prior1YearDuration	-9264000	JPY
Increase decrease in contract liabilities ope cf	CurrentYearDuration	-7931000	JPY
Increase decrease in operating deposits received ope cf	Prior1YearDuration	-11214000	JPY
Increase decrease in operating deposits received ope cf	CurrentYearDuration	6497000	JPY
Increase decrease in deferred installment income ope cf	Prior1YearDuration	281000	JPY
Increase decrease in deferred installment income ope cf	CurrentYearDuration	-25882000	JPY
Other net ope cf	Prior1YearDuration	61116000	JPY
Other net ope cf	CurrentYearDuration	-37581000	JPY
Subtotal ope cf	Prior1YearDuration	562558000	JPY
Subtotal ope cf	CurrentYearDuration	508337000	JPY
Interest income received ope cf	Prior1YearDuration	2305000	JPY
Interest income received ope cf	CurrentYearDuration	6513000	JPY
Interest expenses paid ope cf fin cf	Prior1YearDuration	-35102000	JPY
Interest expenses paid ope cf fin cf	CurrentYearDuration	-43939000	JPY
Proceeds from subsidy income2 ope cf	Prior1YearDuration	965000	JPY
Proceeds from subsidy income2 ope cf	CurrentYearDuration	589000	JPY
Proceeds from compensation for expropriation ope cf	Prior1YearDuration	－	JPY
Proceeds from compensation for expropriation ope cf	CurrentYearDuration	24277000	JPY
Founders special benefits paid ope cf	Prior1YearDuration	-50000000	JPY
Founders special benefits paid ope cf	CurrentYearDuration	－	JPY
Income taxes paid ope cf	Prior1YearDuration	-137670000	JPY
Income taxes paid ope cf	CurrentYearDuration	-109863000	JPY
Net cash provided by used in operating activities	Prior1YearDuration	343056000	JPY
Net cash provided by used in operating activities	CurrentYearDuration	385914000	JPY
Proceeds from withdrawal of time deposits inv cf	Prior1YearDuration	221294000	JPY
Proceeds from withdrawal of time deposits inv cf	CurrentYearDuration	273901000	JPY
Payments into time deposits inv cf	Prior1YearDuration	-247128000	JPY
Payments into time deposits inv cf	CurrentYearDuration	-363091000	JPY
Purchase of property plant and equipment inv cf	Prior1YearDuration	-11763000	JPY
Purchase of property plant and equipment inv cf	CurrentYearDuration	-3563000	JPY
Purchase of intangible assets inv cf	Prior1YearDuration	-3584000	JPY
Purchase of intangible assets inv cf	CurrentYearDuration	-1905000	JPY
Proceeds from sales of golf club memberships inv cf	Prior1YearDuration	2689000	JPY
Proceeds from sales of golf club memberships inv cf	CurrentYearDuration	－	JPY
Payments for lease and guarantee deposits inv cf	Prior1YearDuration	-9346000	JPY
Payments for lease and guarantee deposits inv cf	CurrentYearDuration	-497000	JPY
Proceeds from collection of lease and guarantee deposits inv cf	Prior1YearDuration	5452000	JPY
Proceeds from collection of lease and guarantee deposits inv cf	CurrentYearDuration	9315000	JPY
Other net inv cf	Prior1YearDuration	-3811000	JPY
Other net inv cf	CurrentYearDuration	-7700000	JPY
Net cash provided by used in investment activities	Prior1YearDuration	-46197000	JPY
Net cash provided by used in investment activities	CurrentYearDuration	-93541000	JPY
Net increase decrease in short term loans payable fin cf	Prior1YearDuration	50000000	JPY
Net increase decrease in short term loans payable fin cf	CurrentYearDuration	90000000	JPY
Proceeds from long term loans payable fin cf	Prior1YearDuration	2510000000	JPY

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 identity	consolidated 2024-12-31	pass rounding
balance sheet identity	consolidated 2025-12-31	pass rounding
balance sheet identity	non_consolidated 2024-12-31	pass rounding
balance sheet identity	non_consolidated 2025-12-31	pass
dei present		pass
period resolution		pass
statement vs summary · net assets	consolidated 2023-12-31	pass
statement vs summary · net assets	consolidated 2024-12-31	pass
statement vs summary · net assets	consolidated 2025-12-31	pass
statement vs summary · net assets	non_consolidated 2023-12-31	pass
statement vs summary · net assets	non_consolidated 2024-12-31	pass
statement vs summary · net assets	non_consolidated 2025-12-31	pass
statement vs summary · net income attributable to parent	consolidated 2024-01-01/2024-12-31	pass
statement vs summary · net income attributable to parent	consolidated 2025-01-01/2025-12-31	pass
statement vs summary · operating cash flow	consolidated 2024-01-01/2024-12-31	pass
statement vs summary · operating cash flow	consolidated 2025-01-01/2025-12-31	pass
statement vs summary · revenue	consolidated 2024-01-01/2024-12-31	pass
statement vs summary · revenue	consolidated 2025-01-01/2025-12-31	pass
statement vs summary · revenue	non_consolidated 2024-01-01/2024-12-31	pass
statement vs summary · revenue	non_consolidated 2025-01-01/2025-12-31	pass
statement vs summary · total assets	consolidated 2024-12-31	pass
statement vs summary · total assets	consolidated 2025-12-31	pass
statement vs summary · total assets	non_consolidated 2024-12-31	pass
statement vs summary · total assets	non_consolidated 2025-12-31	pass