Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-25
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed

Amended by S100XU3X (2026-03-26).

Key figures · 154
MetricValuePeriodScopeSource row
Revenue¥20.1bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥16.7bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥17.5bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥16.5bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Revenue¥12.6bn2021-01-01 → 2021-12-31dCons.Net sales (5-year summary)
Operating income¥1.1bn2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥358m2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥850m2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥402m2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income¥1.0bn2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥1.2bn2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥1.3bn2021-01-01 → 2021-12-31dCons.Ordinary income loss (5-year summary)
Profit before tax¥1.1bn2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥363m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥684m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥149m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥511m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥780m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥829m2021-01-01 → 2021-12-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥704m2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥162m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥13.6bnat 2025-12-31Cons.Assets
Total assets¥12.9bnat 2024-12-31Cons.Assets
Total assets¥11.7bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥11.0bnat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥7.9bnat 2021-12-31dCons.Total assets (5-year summary)
Total liabilities¥7.3bnat 2025-12-31Cons.Liabilities
Total liabilities¥6.8bnat 2024-12-31Cons.Liabilities
Net assets / equity¥6.3bnat 2025-12-31Cons.Net assets
Net assets / equity¥6.0bnat 2024-12-31Cons.Net assets
Net assets / equity¥5.9bnat 2023-12-31vCons.Net assets
Net assets / equity¥5.3bnat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥3.6bnat 2021-12-31dCons.Net assets (5-year summary)
Cash and deposits¥5.3bnat 2025-12-31Cons.Cash and deposits
Cash and deposits¥4.8bnat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥5.3bnat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥4.8bnat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥5.0bnat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥4.3bnat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥2.5bnat 2021-12-31dCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥933m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥220m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥1.1bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥1.8bn2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥490m2021-01-01 → 2021-12-31dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow¥87m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥954m2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥354m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥909m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow¥13m2021-01-01 → 2021-12-31dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥576m2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥930m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥36m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥932m2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥572m2021-01-01 → 2021-12-31dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥42.632025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥9.252024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥31.972023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥50.112022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥54.492021-01-01 → 2021-12-31dCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥31.582023-01-01 → 2023-12-31vCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥49.542022-01-01 → 2022-12-31vCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥53.992021-01-01 → 2021-12-31dCons.Diluted earnings per share (5-year summary)
Net assets per share¥373.81at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥342.63at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥335.47at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥302.23at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥215.17at 2021-12-31dCons.Net assets per share (5-year summary)
Equity ratio42.5%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio42.9%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio46.3%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio43.9%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio41.8%at 2021-12-31dCons.Equity to asset ratio (5-year summary)
ROE12.1%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE2.7%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
ROE10.0%2023-01-01 → 2023-12-31vCons.Rate of return on equity (5-year summary)
ROE19.2%2022-01-01 → 2022-12-31vCons.Rate of return on equity (5-year summary)
ROE29.0%2021-01-01 → 2021-12-31dCons.Rate of return on equity (5-year summary)
Employees618at 2025-12-31Cons.Number of employees
Employees612at 2024-12-31Cons.Number of employees
Employees572at 2023-12-31vCons.Number of employees
Employees577at 2022-12-31vCons.Number of employees
Employees496at 2021-12-31dCons.Number of employees
Revenue¥11.9bn2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥10.7bn2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥11.4bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥9.9bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥7.6bn2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income¥668m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥11m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥1.1bn2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥413m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥634m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥496m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥666m2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥735m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥342m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income¥494m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥304m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥695m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥465m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥526m2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥10.4bnat 2025-12-31StandaloneAssets
Total assets¥10.4bnat 2024-12-31StandaloneAssets
Total assets¥9.2bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥8.1bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥6.2bnat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥5.1bnat 2025-12-31StandaloneLiabilities
Total liabilities¥5.2bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥5.3bnat 2025-12-31StandaloneNet assets
Net assets / equity¥5.2bnat 2024-12-31StandaloneNet assets
Net assets / equity¥5.0bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥4.3bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥3.2bnat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥2.7bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥2.0bnat 2024-12-31StandaloneCash and deposits
EPS (basic)¥30.822025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥18.92024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥43.472023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥29.872022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥34.62021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥42.932023-01-01 → 2023-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥29.532022-01-01 → 2022-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥34.282021-01-01 → 2021-12-31dStandaloneDiluted earnings per share (5-year summary)
Dividend per share¥3.92025-01-01 → 2025-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥3.92024-01-01 → 2024-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥3.92023-01-01 → 2023-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥3.92022-01-01 → 2022-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥3.92021-01-01 → 2021-12-31dStandaloneDividend paid per share (5-year summary)
Net assets per share¥340.22at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥322.35at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥306.82at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥265.33at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥209.75at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio50.5%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio49.8%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio53.7%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio52.5%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio51.9%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
ROE9.5%2025-01-01 → 2025-12-31StandaloneRate of return on equity (5-year summary)
ROE6.0%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE15.1%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE12.5%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE18.0%2021-01-01 → 2021-12-31dStandaloneRate of return on equity (5-year summary)
Shares issued16,108,800at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued16,108,800at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued16,108,800at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued15,953,800at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued15,247,100at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees222at 2025-12-31StandaloneNumber of employees
Employees250at 2024-12-31StandaloneNumber of employees
Employees270at 2023-12-31vStandaloneNumber of employees
Employees270at 2022-12-31vStandaloneNumber of employees
Employees260at 2021-12-31dStandaloneNumber 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.

All source rows · 1,375
ItemContextValueUnit
Description of rights plan (text)FilingDateInstantText · Plus
Other information on share acquisition rights (text)FilingDateInstantText · Plus
Exercises etc of moving strike convertible bonds etc (text)FilingDateInstantText · Plus
Changes in number of issued shares stated capital etc (text)FilingDateInstantText · Plus
Shareholding by shareholder category (text)FilingDateInstantText · Plus
Major shareholders (text)FilingDateInstantText · Plus
Name major shareholdersCurrentYearInstant_No1MajorShareholdersMember
Original text (Japanese)柳澤 大輔
Address major shareholdersCurrentYearInstant_No1MajorShareholdersMember
Original text (Japanese)神奈川県鎌倉市
Name major shareholdersCurrentYearInstant_No2MajorShareholdersMember
Original text (Japanese)貝畑 政徳
Address major shareholdersCurrentYearInstant_No2MajorShareholdersMember
Original text (Japanese)神奈川県鎌倉市
Name major shareholdersCurrentYearInstant_No3MajorShareholdersMember
Original text (Japanese)久場 智喜
Address major shareholdersCurrentYearInstant_No3MajorShareholdersMember
Original text (Japanese)神奈川県鎌倉市
Name major shareholdersCurrentYearInstant_No4MajorShareholdersMember
Original text (Japanese)㈱カインズ
Address major shareholdersCurrentYearInstant_No4MajorShareholdersMember
Original text (Japanese)埼玉県本庄市早稲田の杜一丁目2番1号
Name major shareholdersCurrentYearInstant_No5MajorShareholdersMember
Original text (Japanese)㈱日本カストディ銀行(信託口)
Address major shareholdersCurrentYearInstant_No5MajorShareholdersMember
Original text (Japanese)東京都中央区晴海一丁目8番12号
Name major shareholdersCurrentYearInstant_No6MajorShareholdersMember
Original text (Japanese)渡邊 信太郎
Address major shareholdersCurrentYearInstant_No6MajorShareholdersMember
Original text (Japanese)新潟県村上市
Name major shareholdersCurrentYearInstant_No7MajorShareholdersMember
Original text (Japanese)山田 智則
Address major shareholdersCurrentYearInstant_No7MajorShareholdersMember
Original text (Japanese)東京都品川区
Name major shareholdersCurrentYearInstant_No8MajorShareholdersMember
Original text (Japanese)JPモルガン証券㈱
Address major shareholdersCurrentYearInstant_No8MajorShareholdersMember
Original text (Japanese)東京都千代田区丸の内二丁目7番3号
Name major shareholdersCurrentYearInstant_No9MajorShareholdersMember
Original text (Japanese)松井証券㈱
Address major shareholdersCurrentYearInstant_No9MajorShareholdersMember
Original text (Japanese)東京都千代田区麹町一丁目4番地
Name major shareholdersCurrentYearInstant_No10MajorShareholdersMember
Original text (Japanese)望月 重孝
Address major shareholdersCurrentYearInstant_No10MajorShareholdersMember
Original text (Japanese)東京都小金井市
Issued shares voting rights (text)FilingDateInstantText · Plus
Description issued shares voting rightsCurrentYearInstant_SharesWithNoVotingRightsMember-
Description issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsTreasurySharesEtcMember-
Description issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsOtherMember-
Description issued shares voting rightsCurrentYearInstant_OrdinarySharesTreasurySharesSharesWithFullVotingRightsTreasurySharesEtcMember-
Description issued shares voting rightsCurrentYearInstant_OrdinarySharesSharesWithFullVotingRightsOtherMember-
Description issued shares voting rightsCurrentYearInstant_OrdinarySharesSharesLessThanOneUnitMember-
Treasury shares etc (text)FilingDateInstantText · Plus
Name of shareholder treasury shares etcCurrentYearInstant_Row1Member
Original text (Japanese)㈱カヤック
Address of shareholder treasury shares etcCurrentYearInstant_Row1Member
Original text (Japanese)神奈川県鎌倉市御成町11番8号
Classes of shares etc (text)FilingDateInstantText · Plus
Acquisitions by resolution of shareholders meeting (text)FilingDateInstantText · Plus
Acquisitions by resolution of board of directors meeting (text)FilingDateInstantText · Plus
Acquisitions not based on resolution of shareholders meeting or board of directors meeting (text)FilingDateInstantText · Plus
Disposals or holding of acquired treasury shares (text)FilingDateInstantText · Plus
Dividend policy (text)FilingDateInstantText · Plus
Date of resolution dividends of surplusFilingDateInstant_Row1Member2026-03-26
Resolution dividends of surplusFilingDateInstant_Row1Member
Original text (Japanese)定時株主総会決議予定
Overview of corporate governance (text)FilingDateInstantText · Plus
Corporate governance company with audit and supervisory committee (text)FilingDateInstantText · Plus
Basic policy regarding control of company (text)FilingDateInstantText · Plus
Information about officers (text)FilingDateInstantText · Plus
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E31093-000YanagisawaDaisukeMember
Original text (Japanese)代表取締役CEO
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E31093-000YanagisawaDaisukeMember
Original text (Japanese)柳澤 大輔

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 rounding
balance sheet identityconsolidated 2025-12-31pass
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