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Annual report

4011.TEDINET S100XUSL
Period2025-01-01 → 2025-12-31
Filed2026-03-27
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 139
MetricValuePeriodScopeSource row
Revenue¥3.9bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥2.9bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥2.3bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥1.6bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Operating income¥229m2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥308m2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥129m2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥362m2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income¥98m2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥107m2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥128m2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥362m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥58m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥273m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥71m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥75m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥76m2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥275m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥3.8bnat 2025-12-31Cons.Assets
Total assets¥1.8bnat 2024-12-31Cons.Assets
Total assets¥1.3bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥1.2bnat 2022-12-31vCons.Total assets (5-year summary)
Total liabilities¥2.5bnat 2025-12-31Cons.Liabilities
Total liabilities¥528mat 2024-12-31Cons.Liabilities
Net assets / equity¥1.4bnat 2025-12-31Cons.Net assets
Net assets / equity¥1.3bnat 2024-12-31Cons.Net assets
Net assets / equity¥962mat 2023-12-31vCons.Net assets
Net assets / equity¥875mat 2022-12-31vCons.Net assets (5-year summary)
Cash and deposits¥625mat 2025-12-31Cons.Cash and deposits
Cash and deposits¥843mat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥625mat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥843mat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥898mat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥819mat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Operating cash flow−¥39m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥144m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥88m2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥84m2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥2.1bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥211m2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥16m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥31m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥1.9bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥10m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥8m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥15.132025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥72.012024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥18.852023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥20.072022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥13.842025-01-01 → 2025-12-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥65.382024-01-01 → 2024-12-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥16.992023-01-01 → 2023-12-31vCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥18.632022-01-01 → 2022-12-31vCons.Diluted earnings per share (5-year summary)
Net assets per share¥345.93at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥333.73at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥254.73at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥233.78at 2022-12-31vCons.Net assets per share (5-year summary)
Equity ratio34.5%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio70.4%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio74.1%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio74.9%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
ROE4.4%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE24.5%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
ROE7.7%2023-01-01 → 2023-12-31vCons.Rate of return on equity (5-year summary)
ROE8.6%2022-01-01 → 2022-12-31vCons.Rate of return on equity (5-year summary)
Employees389at 2025-12-31Cons.Number of employees
Employees240at 2024-12-31Cons.Number of employees
Employees165at 2023-12-31vCons.Number of employees
Employees113at 2022-12-31vCons.Number of employees
Revenue¥3.0bn2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥2.4bn2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥2.2bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥1.6bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥1.2bn2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income¥74m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥135m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥12m2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥189m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥80m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥77m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥93m2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥12m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥189m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income−¥6m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥149m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥57m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥54m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥27m2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥3.4bnat 2025-12-31StandaloneAssets
Total assets¥1.5bnat 2024-12-31StandaloneAssets
Total assets¥1.2bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥1.1bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥973mat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥2.3bnat 2025-12-31StandaloneLiabilities
Total liabilities¥381mat 2024-12-31StandaloneLiabilities
Net assets / equity¥1.1bnat 2025-12-31StandaloneNet assets
Net assets / equity¥1.1bnat 2024-12-31StandaloneNet assets
Net assets / equity¥924mat 2023-12-31vStandaloneNet assets
Net assets / equity¥854mat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥800mat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥330mat 2025-12-31StandaloneCash and deposits
Cash and deposits¥698mat 2024-12-31StandaloneCash and deposits
Cash & equivalents¥766mat 2021-12-31dStandaloneCash and cash equivalents (5-year summary)
Operating cash flow¥48m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in operating activities (5-year summary)
Investing cash flow−¥53m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in investing activities (5-year summary)
Financing cash flow¥17m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in financing activities (5-year summary)
EPS (basic)¥-1.462025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥39.382024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥15.282023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥14.432022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥7.282021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥35.752024-01-01 → 2024-12-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥13.772023-01-01 → 2023-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥13.42022-01-01 → 2022-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥6.532021-01-01 → 2021-12-31dStandaloneDiluted earnings per share (5-year summary)
Net assets per share¥287.83at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥291.81at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥245.62at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥228.14at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥213.71at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio32.2%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio74.4%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio76.9%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio75.3%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio82.2%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
ROE14.7%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE6.4%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE6.5%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE3.5%2021-01-01 → 2021-12-31dStandaloneRate of return on equity (5-year summary)
Shares issued3,844,144at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued1,898,370at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued1,881,298at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued936,200at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued936,200at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees161at 2025-12-31StandaloneNumber of employees
Employees121at 2024-12-31StandaloneNumber of employees
Employees97at 2023-12-31vStandaloneNumber of employees
Employees102at 2022-12-31vStandaloneNumber of employees
Employees88at 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 · 1,234
ItemContextValueUnit
Name of shareholder treasury shares etcCurrentYearInstant_Row1Member
Original text (Japanese)株式会社ヘッドウォータース
Address of shareholder treasury shares etcCurrentYearInstant_Row1Member
Original text (Japanese)東京都新宿区西新宿６－５-１
Address of shareholder treasury shares etcCurrentYearInstant－
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
Overview of corporate governance (text)FilingDateInstantText · Plus
Corporate governance company with audit and supervisory committee (text)FilingDateInstantText · Plus
Information about officers (text)FilingDateInstantText · Plus
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000ShinodaYosukeMember
Original text (Japanese)代表取締役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000ShinodaYosukeMember
Original text (Japanese)篠田　庸介
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000ShinodaYosukeMember1968-04-05
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000ShinodaYosukeMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000ShinodaYosukeMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000KokuzawaNaokiMember
Original text (Japanese)取締役インテリジェント・テクノロジー事業本部本部長
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000KokuzawaNaokiMember
Original text (Japanese)石澤　直樹
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000KokuzawaNaokiMember1975-04-01
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000KokuzawaNaokiMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000KokuzawaNaokiMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HarashimaKazutakaMember
Original text (Japanese)取締役管理本部本部長
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HarashimaKazutakaMember
Original text (Japanese)原島　一隆
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HarashimaKazutakaMember1974-04-07
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000HarashimaKazutakaMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HarashimaKazutakaMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000MatsuzakiMiwatoMember
Original text (Japanese)取締役経営企画本部本部長
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000MatsuzakiMiwatoMember
Original text (Japanese)松崎　神都
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000MatsuzakiMiwatoMember1976-03-12
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000MatsuzakiMiwatoMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000MatsuzakiMiwatoMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HikitaMasatoMember
Original text (Japanese)取締役 投資戦略本部本部長
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HikitaMasatoMember
Original text (Japanese)疋田　正人
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HikitaMasatoMember1978-01-17
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000HikitaMasatoMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000HikitaMasatoMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000NishimakiMasayaMember
Original text (Japanese)取締役ITインキュベーション事業本部本部長
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000NishimakiMasayaMember
Original text (Japanese)西間木　将矢
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000NishimakiMasayaMember1987-03-15
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000NishimakiMasayaMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000NishimakiMasayaMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000InabaYuichiMember
Original text (Japanese)取締役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000InabaYuichiMember
Original text (Japanese)稲葉　雄一
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000InabaYuichiMember1968-04-29
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E35941-000InabaYuichiMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000InabaYuichiMember
Original text (Japanese)(注)２
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000YanagisawaTakashiMember
Original text (Japanese)取締役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000YanagisawaTakashiMember
Original text (Japanese)柳沢　貴志
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E35941-000YanagisawaTakashiMember1968-04-29

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 rounding
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