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
Net assets (5-year summary)Prior2YearInstant4976627000JPY
Net assets (5-year summary)Prior1YearInstant3027944000JPY
Net assets (5-year summary)CurrentYearInstant6993391000JPY
Total assets (5-year summary)Prior4YearInstant3343065000JPY
Total assets (5-year summary)Prior3YearInstant2872527000JPY
Total assets (5-year summary)Prior2YearInstant7353280000JPY
Total assets (5-year summary)Prior1YearInstant9523131000JPY
Total assets (5-year summary)CurrentYearInstant14609256000JPY
Net assets per share (5-year summary)Prior4YearInstant-31257.24
Net assets per share (5-year summary)Prior3YearInstant-187.68
Net assets per share (5-year summary)Prior2YearInstant-213.36
Net assets per share (5-year summary)Prior1YearInstant69.73
Net assets per share (5-year summary)CurrentYearInstant104.65
Basic earnings loss per share (5-year summary)Prior4YearDuration-11058.22
Basic earnings loss per share (5-year summary)Prior3YearDuration-43.75
Basic earnings loss per share (5-year summary)Prior2YearDuration-85.72
Basic earnings loss per share (5-year summary)Prior1YearDuration-44.96
Basic earnings loss per share (5-year summary)CurrentYearDuration-65.84
Diluted earnings per share (5-year summary)Prior4YearDuration-
Diluted earnings per share (5-year summary)Prior3YearDuration-
Diluted earnings per share (5-year summary)Prior2YearDuration-
Diluted earnings per share (5-year summary)Prior1YearDuration-
Diluted earnings per share (5-year summary)CurrentYearDuration-
Equity to asset ratio (5-year summary)Prior4YearInstant0.695
Equity to asset ratio (5-year summary)Prior3YearInstant0.665
Equity to asset ratio (5-year summary)Prior2YearInstant0.677
Equity to asset ratio (5-year summary)Prior1YearInstant0.318
Equity to asset ratio (5-year summary)CurrentYearInstant0.477
Rate of return on equity (5-year summary)Prior4YearDuration-
Rate of return on equity (5-year summary)Prior3YearDuration-
Rate of return on equity (5-year summary)Prior2YearDuration-
Rate of return on equity (5-year summary)Prior1YearDuration-
Rate of return on equity (5-year summary)CurrentYearDuration-
Price earnings ratio (5-year summary)Prior4YearDuration-
Price earnings ratio (5-year summary)Prior3YearDuration-
Price earnings ratio (5-year summary)Prior2YearDuration-
Price earnings ratio (5-year summary)Prior1YearDuration-
Price earnings ratio (5-year summary)CurrentYearDuration-
Net cash provided by used in operating activities (5-year summary)Prior4YearDuration-1307009000JPY
Net cash provided by used in operating activities (5-year summary)Prior3YearDuration-1229022000JPY
Net cash provided by used in operating activities (5-year summary)Prior2YearDuration-2579367000JPY
Net cash provided by used in operating activities (5-year summary)Prior1YearDuration-4329150000JPY
Net cash provided by used in operating activities (5-year summary)CurrentYearDuration-5123804000JPY
Net cash provided by used in investing activities (5-year summary)Prior4YearDuration-104121000JPY
Net cash provided by used in investing activities (5-year summary)Prior3YearDuration-40558000JPY
Net cash provided by used in investing activities (5-year summary)Prior2YearDuration-980814000JPY
Net cash provided by used in investing activities (5-year summary)Prior1YearDuration-188109000JPY
Net cash provided by used in investing activities (5-year summary)CurrentYearDuration-2117392000JPY
Net cash provided by used in financing activities (5-year summary)Prior4YearDuration-JPY
Net cash provided by used in financing activities (5-year summary)Prior3YearDuration926759000JPY

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