Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-27

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 139

Metric	Value	Period	Scope	Source row
Revenue	¥3.9bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥2.9bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥2.3bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥1.6bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Operating income	¥229m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥308m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥129m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥362m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥98m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥107m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥128m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥362m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥58m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥273m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥71m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥75m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥76m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥275m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥3.8bn	at 2025-12-31	Cons.	Assets
Total assets	¥1.8bn	at 2024-12-31	Cons.	Assets
Total assets	¥1.3bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥1.2bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total liabilities	¥2.5bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥528m	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥1.4bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥1.3bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥962m	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥875m	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Cash and deposits	¥625m	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥843m	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥625m	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥843m	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥898m	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥819m	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥39m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥144m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥88m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥84m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥2.1bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥211m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥16m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥31m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥1.9bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥10m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥8m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥15.13	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥72.01	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥18.85	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥20.07	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥13.84	2025-01-01 → 2025-12-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥65.38	2024-01-01 → 2024-12-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥16.99	2023-01-01 → 2023-12-31^v	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥18.63	2022-01-01 → 2022-12-31^v	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥345.93	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥333.73	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥254.73	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥233.78	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Equity ratio	34.5%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	70.4%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	74.1%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	74.9%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
ROE	4.4%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	24.5%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	7.7%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	8.6%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
Employees	389	at 2025-12-31	Cons.	Number of employees
Employees	240	at 2024-12-31	Cons.	Number of employees
Employees	165	at 2023-12-31^v	Cons.	Number of employees
Employees	113	at 2022-12-31^v	Cons.	Number of employees
Revenue	¥3.0bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥2.4bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥2.2bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥1.6bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥1.2bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	¥74m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥135m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥12m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥189m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥80m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥77m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥93m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥12m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥189m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥6m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥149m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	¥57m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥54m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥27m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥3.4bn	at 2025-12-31	Standalone	Assets
Total assets	¥1.5bn	at 2024-12-31	Standalone	Assets
Total assets	¥1.2bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥1.1bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥973m	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥2.3bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥381m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥1.1bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥1.1bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥924m	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥854m	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥800m	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥330m	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥698m	at 2024-12-31	Standalone	Cash and deposits
Cash & equivalents	¥766m	at 2021-12-31^d	Standalone	Cash and cash equivalents (5-year summary)
Operating cash flow	¥48m	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥53m	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥17m	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-1.46	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥39.38	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥15.28	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥14.43	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥7.28	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥35.75	2024-01-01 → 2024-12-31	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥13.77	2023-01-01 → 2023-12-31^v	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥13.4	2022-01-01 → 2022-12-31^v	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥6.53	2021-01-01 → 2021-12-31^d	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥287.83	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥291.81	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥245.62	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥228.14	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥213.71	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	32.2%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	74.4%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	76.9%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	75.3%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	82.2%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	14.7%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	6.4%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	6.5%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	3.5%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	3,844,144	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	1,898,370	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	1,881,298	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	936,200	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	936,200	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	161	at 2025-12-31	Standalone	Number of employees
Employees	121	at 2024-12-31	Standalone	Number of employees
Employees	97	at 2023-12-31^v	Standalone	Number of employees
Employees	102	at 2022-12-31^v	Standalone	Number of employees
Employees	88	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 · 1,234

Item	Context	Value	Unit
Net assets	CurrentYearInstant	1353699000	JPY
Liabilities and net assets	Prior1YearInstant	1800388000	JPY
Liabilities and net assets	CurrentYearInstant	3849872000	JPY
Net sales	Prior1YearDuration	2905981000	JPY
Net sales	CurrentYearDuration	3900040000	JPY
Cost of sales	Prior1YearDuration	1665908000	JPY
Cost of sales	CurrentYearDuration	2167305000	JPY
Gross profit	Prior1YearDuration	1240073000	JPY
Gross profit	CurrentYearDuration	1732735000	JPY
Selling general and administrative expenses	Prior1YearDuration	932119000	JPY
Selling general and administrative expenses	CurrentYearDuration	1503484000	JPY
Operating income	Prior1YearDuration	307954000	JPY
Operating income	CurrentYearDuration	229250000	JPY
Interest income noi	Prior1YearDuration	102000	JPY
Interest income noi	CurrentYearDuration	2214000	JPY
Foreign exchange gains noi	Prior1YearDuration	298000	JPY
Foreign exchange gains noi	CurrentYearDuration	－	JPY
Subsidy income noi bounty	Prior1YearDuration	－	JPY
Subsidy income noi bounty	CurrentYearDuration	12223000	JPY
Gain on valuation of derivatives noi	Prior1YearDuration	49459000	JPY
Gain on valuation of derivatives noi	CurrentYearDuration	－	JPY
Other noi	Prior1YearDuration	4745000	JPY
Other noi	CurrentYearDuration	1043000	JPY
Non operating income	Prior1YearDuration	54605000	JPY
Non operating income	CurrentYearDuration	15480000	JPY
Interest expenses noe	Prior1YearDuration	－	JPY
Interest expenses noe	CurrentYearDuration	10325000	JPY
Equity in losses of affiliates noe	Prior1YearDuration	－	JPY
Equity in losses of affiliates noe	CurrentYearDuration	40637000	JPY
Foreign exchange losses noe	Prior1YearDuration	－	JPY
Foreign exchange losses noe	CurrentYearDuration	1957000	JPY
Loss on valuation of derivatives noe	Prior1YearDuration	－	JPY
Loss on valuation of derivatives noe	CurrentYearDuration	58597000	JPY
Subsidies return loss noe	Prior1YearDuration	－	JPY
Subsidies return loss noe	CurrentYearDuration	4500000	JPY
Other noe	Prior1YearDuration	127000	JPY
Other noe	CurrentYearDuration	198000	JPY
Non operating expenses	Prior1YearDuration	127000	JPY
Non operating expenses	CurrentYearDuration	116215000	JPY
Ordinary income	Prior1YearDuration	362432000	JPY
Ordinary income	CurrentYearDuration	128516000	JPY
Loss on retirement of noncurrent assets el	Prior1YearDuration	－	JPY
Loss on retirement of noncurrent assets el	CurrentYearDuration	94000	JPY
Extraordinary loss	Prior1YearDuration	－	JPY
Extraordinary loss	CurrentYearDuration	94000	JPY
Income before income taxes	Prior1YearDuration	362432000	JPY
Income before income taxes	CurrentYearDuration	128421000	JPY
Income taxes current	Prior1YearDuration	105537000	JPY
Income taxes current	CurrentYearDuration	33126000	JPY
Income taxes deferred	Prior1YearDuration	-17800000	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
balance sheet identity	consolidated 2025-12-31	pass
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