Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-30
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 133
MetricValuePeriodScopeSource row
Revenue¥190m2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥180m2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥175m2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥112m2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Revenue¥116m2021-01-01 → 2021-12-31vCons.Net sales (5-year summary)
Operating income−¥311m2025-01-01 → 2025-12-31Cons.Operating income
Operating income−¥267m2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income−¥309m2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income−¥272m2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income−¥279m2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥206m2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥129m2021-01-01 → 2021-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax−¥252m2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax−¥384m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)−¥257m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥388m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥297m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥270m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥151m2021-01-01 → 2021-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income−¥257m2025-01-01 → 2025-12-31Cons.Profit loss
Net income−¥388m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥534mat 2025-12-31Cons.Assets
Total assets¥249mat 2024-12-31Cons.Assets
Total assets¥331mat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥516mat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥256mat 2021-12-31vCons.Total assets (5-year summary)
Total liabilities¥414mat 2025-12-31Cons.Liabilities
Total liabilities¥282mat 2024-12-31Cons.Liabilities
Net assets / equity¥120mat 2025-12-31Cons.Net assets
Net assets / equity−¥33mat 2024-12-31Cons.Net assets
Net assets / equity¥282mat 2023-12-31vCons.Net assets
Net assets / equity¥479mat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥231mat 2021-12-31vCons.Net assets (5-year summary)
Cash and deposits¥93mat 2025-12-31Cons.Cash and deposits
Cash and deposits¥54mat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥93mat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥54mat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥24mat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥125mat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥86mat 2021-12-31vCons.Cash and cash equivalents (5-year summary)
Operating cash flow−¥358m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥219m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥198m2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥145m2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥85m2021-01-01 → 2021-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥172m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥71m2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥2m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥340m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow¥207,0002021-01-01 → 2021-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥569m2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥321m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥99m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥524m2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥227,0002021-01-01 → 2021-12-31vCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥-29.722025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-55.382024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-44.812023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-54.142022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-34.832021-01-01 → 2021-12-31vCons.Basic earnings loss per share (5-year summary)
Net assets per share¥11.53at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥-4.64at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥38.13at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥71.53at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥45.79at 2021-12-31vCons.Net assets per share (5-year summary)
Equity ratio21.0%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio-13.3%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio77.5%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio87.6%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio77.5%at 2021-12-31vCons.Equity to asset ratio (5-year summary)
Employees11at 2025-12-31Cons.Number of employees
Employees12at 2024-12-31Cons.Number of employees
Employees10at 2023-12-31vCons.Number of employees
Employees9at 2022-12-31vCons.Number of employees
Employees9at 2021-12-31vCons.Number of employees
Revenue¥20m2025-01-01 → 2025-12-31StandaloneOperating revenue1
Revenue¥20m2024-01-01 → 2024-12-31StandaloneOperating revenue1
Revenue¥19m2023-01-01 → 2023-12-31vStandaloneOperating revenue1 (5-year summary)
Revenue¥20m2022-01-01 → 2022-12-31vStandaloneOperating revenue1 (5-year summary)
Revenue¥18m2021-01-01 → 2021-12-31vStandaloneOperating revenue1 (5-year summary)
Operating income−¥225m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income−¥200m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income−¥227m2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income−¥204m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income−¥139m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥152m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥116m2021-01-01 → 2021-12-31vStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥244m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax−¥516m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income−¥233m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income−¥513m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income−¥188m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income−¥136m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income−¥204m2021-01-01 → 2021-12-31vStandaloneNet income loss (5-year summary)
Total assets¥468mat 2025-12-31StandaloneAssets
Total assets¥149mat 2024-12-31StandaloneAssets
Total assets¥491mat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥574mat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥188mat 2021-12-31vStandaloneTotal assets (5-year summary)
Total liabilities¥315mat 2025-12-31StandaloneLiabilities
Total liabilities¥172mat 2024-12-31StandaloneLiabilities
Net assets / equity¥153mat 2025-12-31StandaloneNet assets
Net assets / equity−¥23mat 2024-12-31StandaloneNet assets
Net assets / equity¥418mat 2023-12-31vStandaloneNet assets
Net assets / equity¥506mat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥124mat 2021-12-31vStandaloneNet assets (5-year summary)
Cash and deposits¥57mat 2025-12-31StandaloneCash and deposits
Cash and deposits¥14mat 2024-12-31StandaloneCash and deposits
EPS (basic)¥-26.962025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-73.342024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-28.392023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-27.312022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-47.032021-01-01 → 2021-12-31vStandaloneBasic earnings loss per share (5-year summary)
Net assets per share¥14.97at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥-3.28at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥58.26at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥75.75at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥21.05at 2021-12-31vStandaloneNet assets per share (5-year summary)
Equity ratio31.1%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio-15.7%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio79.9%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio83.4%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio48.4%at 2021-12-31vStandaloneEquity to asset ratio (5-year summary)
Shares issued9,728,500at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued7,128,500at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued6,728,500at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued6,318,500at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued4,333,500at 2021-12-31vStandaloneTotal number of issued shares (5-year summary)
Employees5at 2025-12-31StandaloneNumber of employees
Employees5at 2024-12-31StandaloneNumber of employees
Employees3at 2023-12-31vStandaloneNumber of employees
Employees4at 2022-12-31vStandaloneNumber of employees
Employees4at 2021-12-31vStandaloneNumber 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 · 56
SegmentItemPeriodValue
Reconciling Itemsreconcilingsegment assetsat 2025-12-31¥83m
Reconciling Itemsreconcilingsegment profit2025-01-01 → 2025-12-31−¥245m
Environment Solution Businessreportable segmentcapex2025-01-01 → 2025-12-31¥250,000
Environment Solution Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥70m
Environment Solution Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥70m
Environment Solution Businessreportable segmentsegment assetsat 2025-12-31¥33m
Environment Solution Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥9m
Real Estate Businessreportable segmentemployeesat 2025-12-311 pure
Real Estate Businessreportable segmentsegment assetsat 2025-12-31¥1m
Real Estate Businessreportable segmentsegment profit2025-01-01 → 2025-12-31−¥22m
Regenerative Medicine Related Businessreportable segmentcapex2025-01-01 → 2025-12-31¥174m
Regenerative Medicine Related Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥2m
Regenerative Medicine Related Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥6m
Regenerative Medicine Related Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥6m
Regenerative Medicine Related Businessreportable segmentsegment assetsat 2025-12-31¥261m
Regenerative Medicine Related Businessreportable segmentsegment profit2025-01-01 → 2025-12-31−¥65m
Sports Businessreportable segmentcapex2025-01-01 → 2025-12-31¥631,000
Sports Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥4m
Sports Businessreportable segmentemployeesat 2025-12-314 pure
Sports Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥114m
Sports Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥114m
Sports Businessreportable segmentsegment assetsat 2025-12-31¥49m
Sports Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥31m
Web Businessreportable segmentsegment profit2025-01-01 → 2025-12-31−¥126,000
—segment totalcapex2025-01-01 → 2025-12-31¥175m
—segment totaldepreciation2025-01-01 → 2025-12-31¥6m
—segment totalemployeesat 2025-12-316 pure
—segment totalrevenue2025-01-01 → 2025-12-31¥190m
—segment totalrevenue external2025-01-01 → 2025-12-31¥190m
—segment totalsegment assetsat 2025-12-31¥451m
—segment totalsegment profit2025-01-01 → 2025-12-31−¥66m
Reconciling Itemsreconcilingcapex2024-01-01 → 2024-12-31¥124,000
Reconciling Itemsreconcilingdepreciation2024-01-01 → 2024-12-31¥5,000
Reconciling Itemsreconcilingsegment assetsat 2024-12-31¥64m
Reconciling Itemsreconcilingsegment profit2024-01-01 → 2024-12-31−¥220m
Environment Solution Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥771,000
Environment Solution Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥65m
Environment Solution Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥65m
Environment Solution Businessreportable segmentsegment assetsat 2024-12-31¥8m
Environment Solution Businessreportable segmentsegment profit2024-01-01 → 2024-12-31−¥49m
Real Estate Businessreportable segmentsegment assetsat 2024-12-31¥726,000
Real Estate Businessreportable segmentsegment profit2024-01-01 → 2024-12-31−¥11m
Sports Businessreportable segmentcapex2024-01-01 → 2024-12-31¥197,000
Sports Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥6m
Sports Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥115m
Sports Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥115m
Sports Businessreportable segmentsegment assetsat 2024-12-31¥47m
Sports Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥28m
Web Businessreportable segmentsegment assetsat 2024-12-31¥32,000
Web Businessreportable segmentsegment profit2024-01-01 → 2024-12-31−¥381,000
—segment totalcapex2024-01-01 → 2024-12-31¥197,000
—segment totaldepreciation2024-01-01 → 2024-12-31¥7m
—segment totalrevenue2024-01-01 → 2024-12-31¥180m
—segment totalrevenue external2024-01-01 → 2024-12-31¥180m
—segment totalsegment assetsat 2024-12-31¥184m
—segment totalsegment profit2024-01-01 → 2024-12-31−¥47m

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

All source rows · 1,284
ItemContextValueUnit
Net assets per share (5-year summary)Prior2YearInstant_NonConsolidatedMember58.26
Net assets per share (5-year summary)Prior1YearInstant_NonConsolidatedMember-3.28
Net assets per share (5-year summary)CurrentYearInstant_NonConsolidatedMember14.97
Dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Basic earnings loss per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-47.03
Basic earnings loss per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-27.31
Basic earnings loss per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-28.39
Basic earnings loss per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-73.34
Basic earnings loss per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-26.96
Diluted earnings per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Diluted earnings per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Diluted earnings per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Diluted earnings per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Diluted earnings per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Equity to asset ratio (5-year summary)Prior4YearInstant_NonConsolidatedMember0.484
Equity to asset ratio (5-year summary)Prior3YearInstant_NonConsolidatedMember0.834
Equity to asset ratio (5-year summary)Prior2YearInstant_NonConsolidatedMember0.799
Equity to asset ratio (5-year summary)Prior1YearInstant_NonConsolidatedMember-0.157
Equity to asset ratio (5-year summary)CurrentYearInstant_NonConsolidatedMember0.311
Rate of return on equity (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Rate of return on equity (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Rate of return on equity (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Rate of return on equity (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Rate of return on equity (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Price earnings ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Price earnings ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Price earnings ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Price earnings ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Price earnings ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Payout ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Payout ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Payout ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Payout ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Payout ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Number of employeesPrior4YearInstant_NonConsolidatedMember4
Number of employeesPrior3YearInstant_NonConsolidatedMember4
Number of employeesPrior2YearInstant_NonConsolidatedMember3
Number of employeesPrior1YearInstant_NonConsolidatedMember5
Number of employeesCurrentYearInstant_NonConsolidatedMember5
Average number of temporary workersPrior4YearInstant_NonConsolidatedMember-
Average number of temporary workersPrior3YearInstant_NonConsolidatedMember-

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 2024-12-31pass
balance sheet identityconsolidated 2025-12-31pass rounding
balance sheet identitynon_consolidated 2024-12-31pass rounding
balance sheet identitynon_consolidated 2025-12-31pass rounding
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-12-31pass
statement vs summary · net assetsconsolidated 2024-12-31pass
statement vs summary · net assetsconsolidated 2025-12-31pass
statement vs summary · net assetsnon_consolidated 2023-12-31pass
statement vs summary · net assetsnon_consolidated 2024-12-31pass
statement vs summary · net assetsnon_consolidated 2025-12-31pass
statement vs summary · net income attributable to parentconsolidated 2024-01-01/2024-12-31pass
statement vs summary · net income attributable to parentconsolidated 2025-01-01/2025-12-31pass
statement vs summary · operating cash flowconsolidated 2024-01-01/2024-12-31pass
statement vs summary · operating cash flowconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenueconsolidated 2024-01-01/2024-12-31pass
statement vs summary · revenueconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenuenon_consolidated 2024-01-01/2024-12-31pass
statement vs summary · revenuenon_consolidated 2025-01-01/2025-12-31pass
statement vs summary · total assetsconsolidated 2024-12-31pass
statement vs summary · total assetsconsolidated 2025-12-31pass
statement vs summary · total assetsnon_consolidated 2024-12-31pass
statement vs summary · total assetsnon_consolidated 2025-12-31pass