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
Subtotal ope cf	CurrentYearDuration	110598000	JPY
Interest income received ope cf	Prior1YearDuration	102000	JPY
Interest income received ope cf	CurrentYearDuration	2214000	JPY
Interest expenses paid ope cf fin cf	Prior1YearDuration	－	JPY
Interest expenses paid ope cf fin cf	CurrentYearDuration	-10325000	JPY
Refund of subsidies subtotal	Prior1YearDuration	－	JPY
Refund of subsidies subtotal	CurrentYearDuration	-4500000	JPY
Proceeds from subsidy income2 ope cf	Prior1YearDuration	－	JPY
Proceeds from subsidy income2 ope cf	CurrentYearDuration	12223000	JPY
Income taxes paid ope cf	Prior1YearDuration	-29150000	JPY
Income taxes paid ope cf	CurrentYearDuration	-148923000	JPY
Net cash provided by used in operating activities	Prior1YearDuration	144409000	JPY
Net cash provided by used in operating activities	CurrentYearDuration	-38713000	JPY
Purchase of property plant and equipment inv cf	Prior1YearDuration	-26574000	JPY
Purchase of property plant and equipment inv cf	CurrentYearDuration	-21928000	JPY
Purchase of investment securities inv cf	Prior1YearDuration	-72029000	JPY
Purchase of investment securities inv cf	CurrentYearDuration	－	JPY
Expenses from derivative transactions inv cf	Prior1YearDuration	-112367000	JPY
Expenses from derivative transactions inv cf	CurrentYearDuration	－	JPY
Purchase of intangible assets inv cf	Prior1YearDuration	－	JPY
Purchase of intangible assets inv cf	CurrentYearDuration	-930000	JPY
Purchase of stocks of subsidiaries and affiliates inv cf	Prior1YearDuration	－	JPY
Purchase of stocks of subsidiaries and affiliates inv cf	CurrentYearDuration	-1910146000	JPY
Purchase of investments in subsidiaries resulting in change in scope of consolidation inv cf	Prior1YearDuration	－	JPY
Purchase of investments in subsidiaries resulting in change in scope of consolidation inv cf	CurrentYearDuration	-161637000	JPY
Net cash provided by used in investment activities	Prior1YearDuration	-210970000	JPY
Net cash provided by used in investment activities	CurrentYearDuration	-2094641000	JPY
Proceeds from issuance of common stock fin cf	Prior1YearDuration	10250000	JPY
Proceeds from issuance of common stock fin cf	CurrentYearDuration	14022000	JPY
Net increase decrease in short term loans payable fin cf	Prior1YearDuration	－	JPY
Net increase decrease in short term loans payable fin cf	CurrentYearDuration	1900000000	JPY
Net cash provided by used in financing activities	Prior1YearDuration	10250000	JPY
Net cash provided by used in financing activities	CurrentYearDuration	1914022000	JPY
Effect of exchange rate change on cash and cash equivalents	Prior1YearDuration	1644000	JPY
Effect of exchange rate change on cash and cash equivalents	CurrentYearDuration	1244000	JPY
Net increase decrease in cash and cash equivalents	Prior1YearDuration	-54665000	JPY
Net increase decrease in cash and cash equivalents	CurrentYearDuration	-218088000	JPY
Cash and cash equivalents	Prior2YearInstant	897899000	JPY
Cash and cash equivalents	Prior1YearInstant	843233000	JPY
Cash and cash equivalents	Prior1YearInstant	843233000	JPY
Cash and cash equivalents	CurrentYearInstant	625145000	JPY
Number of consolidated subsidiaries	CurrentYearInstant	4
Number of associates accounted for using equity method	CurrentYearInstant	1
Accounts receivable trade	Prior1YearInstant	460838000	JPY
Accounts receivable trade	CurrentYearInstant	746649000	JPY
Contract assets	Prior1YearInstant	102031000	JPY
Contract assets	CurrentYearInstant	82020000	JPY
Directors compensations general and administrative expenses	Prior1YearDuration	110304000	JPY
Directors compensations general and administrative expenses	CurrentYearDuration	130644000	JPY
Payrolls and allowances sga	Prior1YearDuration	380478000	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