Annual report

Period2025-06-01 → 2026-05-31
Filed2026-08-26
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 132
MetricValuePeriodScopeSource row
Revenue¥2.5bn2025-06-01 → 2026-05-31Cons.Net sales
Revenue¥1.6bn2024-06-01 → 2025-05-31Cons.Net sales
Revenue¥2.1bn2023-06-01 → 2024-05-31dCons.Net sales (5-year summary)
Revenue¥1.3bn2022-06-01 → 2023-05-31dCons.Net sales (5-year summary)
Revenue¥411m2021-06-01 → 2022-05-31dCons.Net sales (5-year summary)
Operating income−¥3.8bn2025-06-01 → 2026-05-31Cons.Operating income
Operating income−¥2.5bn2024-06-01 → 2025-05-31Cons.Operating income
Ordinary income−¥3.7bn2025-06-01 → 2026-05-31Cons.Ordinary income
Ordinary income−¥1.8bn2024-06-01 → 2025-05-31Cons.Ordinary income
Ordinary income−¥2.5bn2023-06-01 → 2024-05-31dCons.Ordinary income loss (5-year summary)
Ordinary income−¥1.3bn2022-06-01 → 2023-05-31dCons.Ordinary income loss (5-year summary)
Ordinary income−¥1.1bn2021-06-01 → 2022-05-31dCons.Ordinary income loss (5-year summary)
Profit before tax−¥4.1bn2025-06-01 → 2026-05-31Cons.Income before income taxes
Profit before tax−¥1.9bn2024-06-01 → 2025-05-31Cons.Income before income taxes
Net income (owners)−¥4.1bn2025-06-01 → 2026-05-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥2.0bn2024-06-01 → 2025-05-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥3.2bn2023-06-01 → 2024-05-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥1.3bn2022-06-01 → 2023-05-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥1.7bn2021-06-01 → 2022-05-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income−¥4.1bn2025-06-01 → 2026-05-31Cons.Profit loss
Net income−¥2.0bn2024-06-01 → 2025-05-31Cons.Profit loss
Total assets¥14.6bnat 2026-05-31Cons.Assets
Total assets¥9.5bnat 2025-05-31Cons.Assets
Total assets¥7.4bnat 2024-05-31dCons.Total assets (5-year summary)
Total assets¥2.9bnat 2023-05-31dCons.Total assets (5-year summary)
Total assets¥3.3bnat 2022-05-31dCons.Total assets (5-year summary)
Total liabilities¥7.6bnat 2026-05-31Cons.Liabilities
Total liabilities¥6.5bnat 2025-05-31Cons.Liabilities
Net assets / equity¥7.0bnat 2026-05-31Cons.Net assets
Net assets / equity¥3.0bnat 2025-05-31Cons.Net assets
Net assets / equity¥5.0bnat 2024-05-31dCons.Net assets
Net assets / equity¥1.9bnat 2023-05-31dCons.Net assets (5-year summary)
Net assets / equity¥2.3bnat 2022-05-31dCons.Net assets (5-year summary)
Cash and deposits¥5.8bnat 2026-05-31Cons.Cash and deposits
Cash and deposits¥5.0bnat 2025-05-31Cons.Cash and deposits
Cash & equivalents¥4.7bnat 2026-05-31Cons.Cash and cash equivalents
Cash & equivalents¥4.1bnat 2025-05-31Cons.Cash and cash equivalents
Cash & equivalents¥4.2bnat 2024-05-31dCons.Cash and cash equivalents
Cash & equivalents¥1.4bnat 2023-05-31dCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥1.7bnat 2022-05-31dCons.Cash and cash equivalents (5-year summary)
Operating cash flow−¥5.1bn2025-06-01 → 2026-05-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥4.3bn2024-06-01 → 2025-05-31Cons.Net cash provided by used in operating activities
Operating cash flow−¥2.6bn2023-06-01 → 2024-05-31dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥1.2bn2022-06-01 → 2023-05-31dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥1.3bn2021-06-01 → 2022-05-31dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥2.1bn2025-06-01 → 2026-05-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥188m2024-06-01 → 2025-05-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥981m2023-06-01 → 2024-05-31dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥41m2022-06-01 → 2023-05-31dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥104m2021-06-01 → 2022-05-31dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥7.8bn2025-06-01 → 2026-05-31Cons.Net cash provided by used in financing activities
Financing cash flow¥4.4bn2024-06-01 → 2025-05-31Cons.Net cash provided by used in financing activities
Financing cash flow¥6.4bn2023-06-01 → 2024-05-31dCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥927m2022-06-01 → 2023-05-31dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥-65.842025-06-01 → 2026-05-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-44.962024-06-01 → 2025-05-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-85.722023-06-01 → 2024-05-31dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-43.752022-06-01 → 2023-05-31dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-11,058.222021-06-01 → 2022-05-31dCons.Basic earnings loss per share (5-year summary)
Net assets per share¥104.65at 2026-05-31Cons.Net assets per share (5-year summary)
Net assets per share¥69.73at 2025-05-31Cons.Net assets per share (5-year summary)
Net assets per share¥-213.36at 2024-05-31dCons.Net assets per share (5-year summary)
Net assets per share¥-187.68at 2023-05-31dCons.Net assets per share (5-year summary)
Net assets per share¥-31,257.24at 2022-05-31dCons.Net assets per share (5-year summary)
Equity ratio47.7%at 2026-05-31Cons.Equity to asset ratio (5-year summary)
Equity ratio31.8%at 2025-05-31Cons.Equity to asset ratio (5-year summary)
Equity ratio67.7%at 2024-05-31dCons.Equity to asset ratio (5-year summary)
Equity ratio66.5%at 2023-05-31dCons.Equity to asset ratio (5-year summary)
Equity ratio69.5%at 2022-05-31dCons.Equity to asset ratio (5-year summary)
Employees218at 2026-05-31Cons.Number of employees
Employees182at 2025-05-31Cons.Number of employees
Employees161at 2024-05-31dCons.Number of employees
Employees130at 2023-05-31dCons.Number of employees
Employees93at 2022-05-31dCons.Number of employees
Revenue¥747m2025-06-01 → 2026-05-31StandaloneNet sales
Revenue¥454m2024-06-01 → 2025-05-31StandaloneNet sales
Revenue¥408m2023-06-01 → 2024-05-31dStandaloneNet sales (5-year summary)
Revenue¥333m2022-06-01 → 2023-05-31dStandaloneNet sales (5-year summary)
Revenue¥234m2021-06-01 → 2022-05-31dStandaloneNet sales (5-year summary)
Operating income−¥204m2025-06-01 → 2026-05-31StandaloneOperating income
Operating income−¥132m2024-06-01 → 2025-05-31StandaloneOperating income
Ordinary income−¥471m2025-06-01 → 2026-05-31StandaloneOrdinary income
Ordinary income−¥211m2024-06-01 → 2025-05-31StandaloneOrdinary income
Ordinary income¥37m2023-06-01 → 2024-05-31dStandaloneOrdinary income loss (5-year summary)
Ordinary income¥32m2022-06-01 → 2023-05-31dStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥3m2021-06-01 → 2022-05-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥4.1bn2025-06-01 → 2026-05-31StandaloneIncome before income taxes
Profit before tax−¥1.9bn2024-06-01 → 2025-05-31StandaloneIncome before income taxes
Net income−¥4.1bn2025-06-01 → 2026-05-31StandaloneProfit loss
Net income−¥2.0bn2024-06-01 → 2025-05-31StandaloneProfit loss
Net income−¥3.2bn2023-06-01 → 2024-05-31dStandaloneNet income loss (5-year summary)
Net income−¥1.3bn2022-06-01 → 2023-05-31dStandaloneNet income loss (5-year summary)
Net income−¥3.0bn2021-06-01 → 2022-05-31dStandaloneNet income loss (5-year summary)
Total assets¥11.9bnat 2026-05-31StandaloneAssets
Total assets¥7.7bnat 2025-05-31StandaloneAssets
Total assets¥5.0bnat 2024-05-31dStandaloneTotal assets (5-year summary)
Total assets¥2.0bnat 2023-05-31dStandaloneTotal assets (5-year summary)
Total assets¥2.4bnat 2022-05-31dStandaloneTotal assets (5-year summary)
Total liabilities¥4.9bnat 2026-05-31StandaloneLiabilities
Total liabilities¥4.7bnat 2025-05-31StandaloneLiabilities
Net assets / equity¥7.0bnat 2026-05-31StandaloneNet assets
Net assets / equity¥3.0bnat 2025-05-31StandaloneNet assets
Net assets / equity¥5.0bnat 2024-05-31dStandaloneNet assets
Net assets / equity¥1.9bnat 2023-05-31dStandaloneNet assets (5-year summary)
Net assets / equity¥2.3bnat 2022-05-31dStandaloneNet assets (5-year summary)
Cash and deposits¥4.2bnat 2026-05-31StandaloneCash and deposits
Cash and deposits¥3.7bnat 2025-05-31StandaloneCash and deposits
EPS (basic)¥-65.852025-06-01 → 2026-05-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-44.962024-06-01 → 2025-05-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-85.722023-06-01 → 2024-05-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-43.752022-06-01 → 2023-05-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-19,452.612021-06-01 → 2022-05-31dStandaloneBasic earnings loss per share (5-year summary)
Net assets per share¥104.65at 2026-05-31StandaloneNet assets per share (5-year summary)
Net assets per share¥69.73at 2025-05-31StandaloneNet assets per share (5-year summary)
Net assets per share¥-213.36at 2024-05-31dStandaloneNet assets per share (5-year summary)
Net assets per share¥-187.68at 2023-05-31dStandaloneNet assets per share (5-year summary)
Net assets per share¥-31,257.24at 2022-05-31dStandaloneNet assets per share (5-year summary)
Equity ratio58.5%at 2026-05-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio39.2%at 2025-05-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio98.7%at 2024-05-31dStandaloneEquity to asset ratio (5-year summary)
Equity ratio97.1%at 2023-05-31dStandaloneEquity to asset ratio (5-year summary)
Equity ratio98.4%at 2022-05-31dStandaloneEquity to asset ratio (5-year summary)
Shares issued66,640,600at 2026-05-31StandaloneTotal number of issued shares (5-year summary)
Shares issued43,390,000at 2025-05-31StandaloneTotal number of issued shares (5-year summary)
Shares issued49,500at 2024-05-31dStandaloneTotal number of issued shares (5-year summary)
Shares issued49,500at 2023-05-31dStandaloneTotal number of issued shares (5-year summary)
Shares issued49,500at 2022-05-31dStandaloneTotal number of issued shares (5-year summary)
Employees39at 2026-05-31StandaloneNumber of employees
Employees32at 2025-05-31StandaloneNumber of employees
Employees26at 2024-05-31dStandaloneNumber of employees
Employees26at 2023-05-31dStandaloneNumber of employees
Employees20at 2022-05-31dStandaloneNumber 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.

Segments · 40
SegmentItemPeriodValue
Operating Segments Not Included In Reportable Segments And Other Revenue Generating Business Activitiesother segmentsemployeesat 2026-05-3115 pure
Reconciling Itemsreconcilingcapex2025-06-01 → 2026-05-31¥134m
Reconciling Itemsreconcilingdepreciation2025-06-01 → 2026-05-31¥5m
Reconciling Itemsreconcilingsegment assetsat 2026-05-31¥6.6bn
Reconciling Itemsreconcilingsegment ordinary income2025-06-01 → 2026-05-31−¥1.8bn
Axel Globe Businessreportable segmentcapex2025-06-01 → 2026-05-31¥3.5bn
Axel Globe Businessreportable segmentdepreciation2025-06-01 → 2026-05-31¥2m
Axel Globe Businessreportable segmentrevenue2025-06-01 → 2026-05-31¥986m
Axel Globe Businessreportable segmentrevenue external2025-06-01 → 2026-05-31¥986m
Axel Globe Businessreportable segmentsegment assetsat 2026-05-31¥5.7bn
Axel Globe Businessreportable segmentsegment ordinary income2025-06-01 → 2026-05-31−¥1.6bn
Axel Liner Businessreportable segmentcapex2025-06-01 → 2026-05-31¥62m
Axel Liner Businessreportable segmentrevenue2025-06-01 → 2026-05-31¥1.5bn
Axel Liner Businessreportable segmentrevenue external2025-06-01 → 2026-05-31¥1.5bn
Axel Liner Businessreportable segmentsegment assetsat 2026-05-31¥2.4bn
Axel Liner Businessreportable segmentsegment ordinary income2025-06-01 → 2026-05-31−¥278m
—segment totalcapex2025-06-01 → 2026-05-31¥3.5bn
—segment totaldepreciation2025-06-01 → 2026-05-31¥2m
—segment totalrevenue2025-06-01 → 2026-05-31¥2.5bn
—segment totalrevenue external2025-06-01 → 2026-05-31¥2.5bn
—segment totalsegment assetsat 2026-05-31¥8.0bn
—segment totalsegment ordinary income2025-06-01 → 2026-05-31−¥1.9bn
Reconciling Itemsreconcilingcapex2024-06-01 → 2025-05-31¥17m
Reconciling Itemsreconcilingsegment assetsat 2025-05-31¥5.5bn
Reconciling Itemsreconcilingsegment ordinary income2024-06-01 → 2025-05-31−¥1.0bn
Axel Globe Businessreportable segmentcapex2024-06-01 → 2025-05-31¥42m
Axel Globe Businessreportable segmentrevenue2024-06-01 → 2025-05-31¥260m
Axel Globe Businessreportable segmentrevenue external2024-06-01 → 2025-05-31¥260m
Axel Globe Businessreportable segmentsegment assetsat 2025-05-31¥2.8bn
Axel Globe Businessreportable segmentsegment ordinary income2024-06-01 → 2025-05-31−¥942m
Axel Liner Businessreportable segmentcapex2024-06-01 → 2025-05-31¥64m
Axel Liner Businessreportable segmentrevenue2024-06-01 → 2025-05-31¥1.3bn
Axel Liner Businessreportable segmentrevenue external2024-06-01 → 2025-05-31¥1.3bn
Axel Liner Businessreportable segmentsegment assetsat 2025-05-31¥1.2bn
Axel Liner Businessreportable segmentsegment ordinary income2024-06-01 → 2025-05-31¥119m
—segment totalcapex2024-06-01 → 2025-05-31¥105m
—segment totalrevenue2024-06-01 → 2025-05-31¥1.6bn
—segment totalrevenue external2024-06-01 → 2025-05-31¥1.6bn
—segment totalsegment assetsat 2025-05-31¥4.1bn
—segment totalsegment ordinary income2024-06-01 → 2025-05-31−¥823m

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

All source rows · 1,195
ItemContextValueUnit
Loss on retirement of treasury subscription rights to shares ope cfPrior1YearDuration-JPY
Loss on retirement of treasury subscription rights to shares ope cfCurrentYearDuration47920000JPY
Foreign exchange losses gains ope cfPrior1YearDuration10131000JPY
Foreign exchange losses gains ope cfCurrentYearDuration-15111000JPY
Decrease increase in accounts receivable trade and contract assets ope cfPrior1YearDuration262647000JPY
Decrease increase in accounts receivable trade and contract assets ope cfCurrentYearDuration-1050253000JPY
Decrease increase in raw materials and supplies ope cfPrior1YearDuration-721332000JPY
Decrease increase in raw materials and supplies ope cfCurrentYearDuration149445000JPY
Decrease increase in advance payments ope cfPrior1YearDuration-1580100000JPY
Decrease increase in advance payments ope cfCurrentYearDuration-1610919000JPY
Increase decrease in notes and accounts payable trade ope cfPrior1YearDuration-59951000JPY
Increase decrease in notes and accounts payable trade ope cfCurrentYearDuration370750000JPY
Increase decrease in accounts payable other ope cfPrior1YearDuration55798000JPY
Increase decrease in accounts payable other ope cfCurrentYearDuration226473000JPY
Increase decrease in provision for loss on projects ope cfPrior1YearDuration-299669000JPY
Increase decrease in provision for loss on projects ope cfCurrentYearDuration-JPY
Increase decrease in advances received and contract liabilities ope cfPrior1YearDuration-59386000JPY
Increase decrease in advances received and contract liabilities ope cfCurrentYearDuration1009609000JPY
Other net ope cfPrior1YearDuration-155532000JPY
Other net ope cfCurrentYearDuration-85086000JPY
Subtotal ope cfPrior1YearDuration-5049260000JPY
Subtotal ope cfCurrentYearDuration-4793760000JPY
Interest and dividends income received ope cf inv cfPrior1YearDuration1833000JPY
Interest and dividends income received ope cf inv cfCurrentYearDuration13740000JPY
Interest expenses paid ope cf fin cfPrior1YearDuration-100490000JPY
Interest expenses paid ope cf fin cfCurrentYearDuration-347941000JPY
Income taxes paid refund ope cfPrior1YearDuration-17527000JPY
Income taxes paid refund ope cfCurrentYearDuration4157000JPY
Proceeds from subsidy ope cfPrior1YearDuration735948000JPY
Proceeds from subsidy ope cfCurrentYearDuration-JPY
Proceeds from insurance income ope cfPrior1YearDuration100345000JPY
Proceeds from insurance income ope cfCurrentYearDuration-JPY
Net cash provided by used in operating activitiesPrior1YearDuration-4329150000JPY
Net cash provided by used in operating activitiesCurrentYearDuration-5123804000JPY
Purchase of property plant and equipment inv cfPrior1YearDuration-88789000JPY
Purchase of property plant and equipment inv cfCurrentYearDuration-1807152000JPY
Purchase of intangible assets inv cfPrior1YearDuration-10095000JPY
Purchase of intangible assets inv cfCurrentYearDuration-34520000JPY
Payments for lease and guarantee deposits inv cfPrior1YearDuration-90623000JPY
Payments for lease and guarantee deposits inv cfCurrentYearDuration-88567000JPY
Proceeds from collection of lease and guarantee deposits inv cfPrior1YearDuration1399000JPY
Proceeds from collection of lease and guarantee deposits inv cfCurrentYearDuration12847000JPY
Payments into time deposits inv cfPrior1YearDuration-JPY
Payments into time deposits inv cfCurrentYearDuration-1100000000JPY
Proceeds from withdrawal of time deposits inv cfPrior1YearDuration-JPY
Proceeds from withdrawal of time deposits inv cfCurrentYearDuration900000000JPY
Net cash provided by used in investment activitiesPrior1YearDuration-188109000JPY
Net cash provided by used in investment activitiesCurrentYearDuration-2117392000JPY
Net increase decrease in short term loans payable fin cfPrior1YearDuration-171974000JPY
Net increase decrease in short term loans payable fin cfCurrentYearDuration-166244000JPY

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 2025-05-31pass
balance sheet identityconsolidated 2026-05-31pass
balance sheet identitynon_consolidated 2025-05-31pass
balance sheet identitynon_consolidated 2026-05-31pass
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2024-05-31pass
statement vs summary · net assetsconsolidated 2025-05-31pass
statement vs summary · net assetsconsolidated 2026-05-31pass
statement vs summary · net assetsnon_consolidated 2024-05-31pass
statement vs summary · net assetsnon_consolidated 2025-05-31pass
statement vs summary · net assetsnon_consolidated 2026-05-31pass
statement vs summary · net income attributable to parentconsolidated 2024-06-01/2025-05-31pass
statement vs summary · net income attributable to parentconsolidated 2025-06-01/2026-05-31pass
statement vs summary · operating cash flowconsolidated 2024-06-01/2025-05-31pass
statement vs summary · operating cash flowconsolidated 2025-06-01/2026-05-31pass
statement vs summary · revenueconsolidated 2024-06-01/2025-05-31pass
statement vs summary · revenueconsolidated 2025-06-01/2026-05-31pass
statement vs summary · revenuenon_consolidated 2024-06-01/2025-05-31pass
statement vs summary · revenuenon_consolidated 2025-06-01/2026-05-31pass
statement vs summary · total assetsconsolidated 2025-05-31pass
statement vs summary · total assetsconsolidated 2026-05-31pass
statement vs summary · total assetsnon_consolidated 2025-05-31pass
statement vs summary · total assetsnon_consolidated 2026-05-31pass