Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-27
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 140
MetricValuePeriodScopeSource row
Revenue¥31.9bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥31.3bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥29.8bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥26.5bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Revenue¥25.5bn2021-01-01 → 2021-12-31vCons.Net sales (5-year summary)
Operating income¥725m2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥1.2bn2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥596m2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥1.0bn2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income¥296m2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥722m2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥1.8bn2021-01-01 → 2021-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥233m2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥655m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥90m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥459m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥706m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥3.4bn2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥489m2021-01-01 → 2021-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥90m2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥460m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥24.4bnat 2025-12-31Cons.Assets
Total assets¥26.3bnat 2024-12-31Cons.Assets
Total assets¥20.3bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥21.5bnat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥26.8bnat 2021-12-31vCons.Total assets (5-year summary)
Total liabilities¥15.7bnat 2025-12-31Cons.Liabilities
Total liabilities¥17.7bnat 2024-12-31Cons.Liabilities
Net assets / equity¥8.7bnat 2025-12-31Cons.Net assets
Net assets / equity¥8.6bnat 2024-12-31Cons.Net assets
Net assets / equity¥1.4bnat 2023-12-31vCons.Net assets
Net assets / equity¥580mat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥3.9bnat 2021-12-31vCons.Net assets (5-year summary)
Cash and deposits¥8.0bnat 2025-12-31Cons.Cash and deposits
Cash and deposits¥12.7bnat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥7.6bnat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥12.4bnat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥6.1bnat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥5.6bnat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥7.9bnat 2021-12-31vCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥980m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥2.2bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥1.7bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥824m2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥3.0bn2021-01-01 → 2021-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥3.8bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥732m2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥587m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥807m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow¥264m2021-01-01 → 2021-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥2.0bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥4.9bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥753m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥2.3bn2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥2.3bn2021-01-01 → 2021-12-31vCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥1.762025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥10.032024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-15.712023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-77.212022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-11.232021-01-01 → 2021-12-31vCons.Basic earnings loss per share (5-year summary)
Net assets per share¥169.3at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥167.3at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥31.14at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥12.89at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥89.04at 2021-12-31vCons.Net assets per share (5-year summary)
Equity ratio35.5%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio32.6%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio7.0%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio2.6%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio14.6%at 2021-12-31vCons.Equity to asset ratio (5-year summary)
ROE1.0%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE9.2%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
Employees600at 2025-12-31Cons.Number of employees
Employees452at 2024-12-31Cons.Number of employees
Employees411at 2023-12-31vCons.Number of employees
Employees445at 2022-12-31vCons.Number of employees
Employees498at 2021-12-31vCons.Number of employees
Revenue¥2.3bn2025-01-01 → 2025-12-31StandaloneOperating revenue2
Revenue¥2.3bn2024-01-01 → 2024-12-31StandaloneOperating revenue2
Revenue¥2.3bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥2.4bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥2.7bn2021-01-01 → 2021-12-31vStandaloneNet sales (5-year summary)
Operating income−¥199m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥108m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥121m2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥182m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥100m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥191m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥357m2021-01-01 → 2021-12-31vStandaloneOrdinary income loss (5-year summary)
Profit before tax¥300m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥514m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income¥297m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥528m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income−¥403m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income−¥2.8bn2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income−¥213m2021-01-01 → 2021-12-31vStandaloneNet income loss (5-year summary)
Total assets¥23.3bnat 2025-12-31StandaloneAssets
Total assets¥24.8bnat 2024-12-31StandaloneAssets
Total assets¥19.0bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥20.1bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥24.9bnat 2021-12-31vStandaloneTotal assets (5-year summary)
Total liabilities¥11.8bnat 2025-12-31StandaloneLiabilities
Total liabilities¥13.6bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥11.5bnat 2025-12-31StandaloneNet assets
Net assets / equity¥11.2bnat 2024-12-31StandaloneNet assets
Net assets / equity¥4.0bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥2.9bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥5.6bnat 2021-12-31vStandaloneNet assets (5-year summary)
Cash and deposits¥4.7bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥8.3bnat 2024-12-31StandaloneCash and deposits
EPS (basic)¥5.82025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥11.552024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-8.972023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-62.772022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-4.92021-01-01 → 2021-12-31vStandaloneBasic earnings loss per share (5-year summary)
Dividend per share¥32025-01-01 → 2025-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥22024-01-01 → 2024-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥2.52021-01-01 → 2021-12-31vStandaloneDividend paid per share (5-year summary)
Net assets per share¥224.77at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥218.95at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥88.39at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥65.15at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥127.39at 2021-12-31vStandaloneNet assets per share (5-year summary)
Equity ratio49.5%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio45.2%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio21.0%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio14.3%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio22.5%at 2021-12-31vStandaloneEquity to asset ratio (5-year summary)
ROE2.6%2025-01-01 → 2025-12-31StandaloneRate of return on equity (5-year summary)
ROE6.9%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
Shares issued51,267,537at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued51,241,921at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued45,337,860at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued44,837,860at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued44,639,860at 2021-12-31vStandaloneTotal number of issued shares (5-year summary)
Employees27at 2025-12-31StandaloneNumber of employees
Employees24at 2024-12-31StandaloneNumber of employees
Employees27at 2023-12-31vStandaloneNumber of employees
Employees32at 2022-12-31vStandaloneNumber of employees
Employees33at 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 · 45
SegmentItemPeriodValue
Reconciling Itemsreconcilingcapex2025-01-01 → 2025-12-31¥66m
Reconciling Itemsreconcilingdepreciation2025-01-01 → 2025-12-31¥75m
Reconciling Itemsreconcilingsegment assetsat 2025-12-31¥14.1bn
Reconciling Itemsreconcilingsegment profit2025-01-01 → 2025-12-31−¥3.4bn
Franchise Businessreportable segmentcapex2025-01-01 → 2025-12-31¥37m
Franchise Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥1m
Franchise Businessreportable segmentemployeesat 2025-12-314 pure
Franchise Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥1.6bn
Franchise Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥1.6bn
Franchise Businessreportable segmentsegment assetsat 2025-12-31¥452m
Franchise Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥1.2bn
The Business Directly Operatedreportable segmentcapex2025-01-01 → 2025-12-31¥912m
The Business Directly Operatedreportable segmentdepreciation2025-01-01 → 2025-12-31¥478m
The Business Directly Operatedreportable segmentemployeesat 2025-12-31524 pure
The Business Directly Operatedreportable segmentrevenue2025-01-01 → 2025-12-31¥30.3bn
The Business Directly Operatedreportable segmentrevenue external2025-01-01 → 2025-12-31¥30.3bn
The Business Directly Operatedreportable segmentsegment assetsat 2025-12-31¥9.9bn
The Business Directly Operatedreportable segmentsegment profit2025-01-01 → 2025-12-31¥3.0bn
Total Of Reportable Segments And Otherssegment totalcapex2025-01-01 → 2025-12-31¥949m
Total Of Reportable Segments And Otherssegment totaldepreciation2025-01-01 → 2025-12-31¥479m
Total Of Reportable Segments And Otherssegment totalrevenue2025-01-01 → 2025-12-31¥31.9bn
Total Of Reportable Segments And Otherssegment totalrevenue external2025-01-01 → 2025-12-31¥31.9bn
Total Of Reportable Segments And Otherssegment totalsegment assetsat 2025-12-31¥10.3bn
Total Of Reportable Segments And Otherssegment totalsegment profit2025-01-01 → 2025-12-31¥4.2bn
Reconciling Itemsreconcilingcapex2024-01-01 → 2024-12-31¥18m
Reconciling Itemsreconcilingdepreciation2024-01-01 → 2024-12-31¥75m
Reconciling Itemsreconcilingsegment assetsat 2024-12-31¥15.9bn
Reconciling Itemsreconcilingsegment profit2024-01-01 → 2024-12-31−¥3.0bn
Franchise Businessreportable segmentcapex2024-01-01 → 2024-12-31¥33m
Franchise Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥1.7bn
Franchise Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥1.7bn
Franchise Businessreportable segmentsegment assetsat 2024-12-31¥678m
Franchise Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥1.1bn
The Business Directly Operatedreportable segmentcapex2024-01-01 → 2024-12-31¥683m
The Business Directly Operatedreportable segmentdepreciation2024-01-01 → 2024-12-31¥477m
The Business Directly Operatedreportable segmentrevenue2024-01-01 → 2024-12-31¥29.7bn
The Business Directly Operatedreportable segmentrevenue external2024-01-01 → 2024-12-31¥29.7bn
The Business Directly Operatedreportable segmentsegment assetsat 2024-12-31¥9.7bn
The Business Directly Operatedreportable segmentsegment profit2024-01-01 → 2024-12-31¥3.1bn
Total Of Reportable Segments And Otherssegment totalcapex2024-01-01 → 2024-12-31¥717m
Total Of Reportable Segments And Otherssegment totaldepreciation2024-01-01 → 2024-12-31¥477m
Total Of Reportable Segments And Otherssegment totalrevenue2024-01-01 → 2024-12-31¥31.3bn
Total Of Reportable Segments And Otherssegment totalrevenue external2024-01-01 → 2024-12-31¥31.3bn
Total Of Reportable Segments And Otherssegment totalsegment assetsat 2024-12-31¥10.4bn
Total Of Reportable Segments And Otherssegment totalsegment profit2024-01-01 → 2024-12-31¥4.2bn

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

All source rows · 1,754
ItemContextValueUnit
Number of shares constituting one unitCurrentYearInstant_OrdinaryShareMember100
Number of shareholders national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Number of shareholders financial institutionsCurrentYearInstant_OrdinaryShareMember9
Number of shareholders financial service providersCurrentYearInstant_OrdinaryShareMember15
Number of shareholders other corporationsCurrentYearInstant_OrdinaryShareMember522
Number of shareholders foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember34
Number of shareholders foreign individual investorsCurrentYearInstant_OrdinaryShareMember359
Number of shareholders individuals and othersCurrentYearInstant_OrdinaryShareMember110556
Number of shareholders totalCurrentYearInstant_OrdinaryShareMember111495
Number of shares held number of units national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Number of shares held number of units financial institutionsCurrentYearInstant_OrdinaryShareMember77173
Number of shares held number of units financial service providersCurrentYearInstant_OrdinaryShareMember1079
Number of shares held number of units other corporationsCurrentYearInstant_OrdinaryShareMember153899
Number of shares held number of units foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember3107
Number of shares held number of units foreign individual investorsCurrentYearInstant_OrdinaryShareMember665
Number of shares held number of units individuals and othersCurrentYearInstant_OrdinaryShareMember276564
Number of shares held number of units totalCurrentYearInstant_OrdinaryShareMember512487
Number of shares held shares less than one unitCurrentYearInstant_OrdinaryShareMember18837
Percentage of shareholdings national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Percentage of shareholdings financial institutionsCurrentYearInstant_OrdinaryShareMember0.15058
Percentage of shareholdings financial service providersCurrentYearInstant_OrdinaryShareMember0.00210
Percentage of shareholdings other corporationsCurrentYearInstant_OrdinaryShareMember0.30029
Percentage of shareholdings foreigners other than individualsCurrentYearInstant_OrdinaryShareMember0.00606
Percentage of shareholdings foreign individualsCurrentYearInstant_OrdinaryShareMember0.00129
Percentage of shareholdings individuals and othersCurrentYearInstant_OrdinaryShareMember0.53965
Number of shares heldCurrentYearInstant_No1MajorShareholdersMember6810000
Shareholding ratioCurrentYearInstant_No1MajorShareholdersMember0.1328
Number of shares heldCurrentYearInstant_No2MajorShareholdersMember3100128
Shareholding ratioCurrentYearInstant_No2MajorShareholdersMember0.0605
Number of shares heldCurrentYearInstant_No3MajorShareholdersMember2992800
Shareholding ratioCurrentYearInstant_No3MajorShareholdersMember0.0584
Number of shares heldCurrentYearInstant_No4MajorShareholdersMember2415800
Shareholding ratioCurrentYearInstant_No4MajorShareholdersMember0.0471
Number of shares heldCurrentYearInstant_No5MajorShareholdersMember1965400
Shareholding ratioCurrentYearInstant_No5MajorShareholdersMember0.0383
Number of shares heldCurrentYearInstant_No6MajorShareholdersMember1800000
Shareholding ratioCurrentYearInstant_No6MajorShareholdersMember0.0351
Number of shares heldCurrentYearInstant_No7MajorShareholdersMember1483620
Shareholding ratioCurrentYearInstant_No7MajorShareholdersMember0.0289
Number of shares heldCurrentYearInstant_No8MajorShareholdersMember1400000
Shareholding ratioCurrentYearInstant_No8MajorShareholdersMember0.0273
Number of shares heldCurrentYearInstant_No9MajorShareholdersMember1270400
Shareholding ratioCurrentYearInstant_No9MajorShareholdersMember0.0248
Number of shares heldCurrentYearInstant_No10MajorShareholdersMember895600
Shareholding ratioCurrentYearInstant_No10MajorShareholdersMember0.0175
Number of shares heldCurrentYearInstant24133748
Shareholding ratioCurrentYearInstant0.4707
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithNoVotingRightsMember-
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsTreasurySharesEtcMember-
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsOtherMember-

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
balance sheet identitynon_consolidated 2024-12-31pass
balance sheet identitynon_consolidated 2025-12-31pass
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