Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-30

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 137

Metric	Value	Period	Scope	Source row
Revenue	¥3.3bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥3.6bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥3.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥2.9bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥1.0bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	−¥7m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥36m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥47m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥12m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥687m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥308m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥14m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	−¥53m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥12m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	−¥116m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥61m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥650m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥909m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥11m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	−¥108m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥63m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥4.2bn	at 2025-12-31	Cons.	Assets
Total assets	¥3.0bn	at 2024-12-31	Cons.	Assets
Total assets	¥3.3bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥3.8bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥2.4bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥2.3bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥2.4bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥1.9bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥614m	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥468m	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥432m	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥1.3bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥2.2bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥670m	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥2.2bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥659m	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥803m	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.0bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥1.4bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥150m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥195m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥387m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥318m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥788,000	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥29m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥5m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥56m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥263m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥495m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥1.4bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥344m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥238m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥163m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥497m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-7.29	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-3.97	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-43.65	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-63.32	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥0.79	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥0.76	2021-01-01 → 2021-12-31^d	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥107.78	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥38.78	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥29.78	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥29.26	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥91.59	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	44.1%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	20.0%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	13.7%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	11.1%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	54.1%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	0.9%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	204	at 2025-12-31	Cons.	Number of employees
Employees	219	at 2024-12-31	Cons.	Number of employees
Employees	263	at 2023-12-31^v	Cons.	Number of employees
Employees	190	at 2022-12-31^v	Cons.	Number of employees
Employees	52	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥454m	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥628m	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥704m	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥964m	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥979m	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	−¥241m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	−¥175m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	−¥276m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	−¥191m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥292m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥61m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥55m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	−¥283m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥198m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥221m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥169m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥369m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥819m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥53m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥4.0bn	at 2025-12-31	Standalone	Assets
Total assets	¥3.0bn	at 2024-12-31	Standalone	Assets
Total assets	¥3.3bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.6bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥2.4bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥1.9bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥2.1bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥2.1bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥918m	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥879m	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥562m	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥1.4bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥1.4bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥121m	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥-13.88	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-11	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-24.8	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-57.07	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥3.72	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥3.56	2021-01-01 → 2021-12-31^d	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥119.55	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥58.6	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥56.97	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥38.24	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥94.5	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	51.4%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	29.7%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	26.2%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	15.4%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	55.6%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	4.1%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	17,191,031	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,340,031	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,150,199	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,439,199	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,296,200	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	36	at 2025-12-31	Standalone	Number of employees
Employees	42	at 2024-12-31	Standalone	Number of employees
Employees	52	at 2023-12-31^v	Standalone	Number of employees
Employees	46	at 2022-12-31^v	Standalone	Number of employees
Employees	45	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 · 1,231

Item	Context	Value	Unit
Net changes of items other than shareholders equity	CurrentYearDuration_ForeignCurrencyTranslationAdjustmentMember	-3325000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	-3325000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_SubscriptionRightsToSharesMember	-4370000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_NonControllingInterestsMember	8953000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration	1257000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationDifferenceOnAvailableForSaleSecuritiesMember	－	JPY
Total changes of items during the period	CurrentYearDuration_ForeignCurrencyTranslationAdjustmentMember	-3325000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	-3325000	JPY
Total changes of items during the period	CurrentYearDuration_SubscriptionRightsToSharesMember	-4370000	JPY
Total changes of items during the period	CurrentYearDuration_NonControllingInterestsMember	8953000	JPY
Total changes of items during the period	CurrentYearDuration	1262499000	JPY
Net assets	CurrentYearInstant_ValuationDifferenceOnAvailableForSaleSecuritiesMember	－	JPY
Net assets	CurrentYearInstant_ForeignCurrencyTranslationAdjustmentMember	-3242000	JPY
Net assets	CurrentYearInstant_ValuationAndTranslationAdjustmentsMember	-3242000	JPY
Net assets	CurrentYearInstant_SubscriptionRightsToSharesMember	15031000	JPY
Net assets	CurrentYearInstant_NonControllingInterestsMember	8953000	JPY
Net assets	CurrentYearInstant	1876739000	JPY
Income before income taxes	Prior1YearDuration	11735000	JPY
Income before income taxes	CurrentYearDuration	-53351000	JPY
Depreciation and amortization ope cf	Prior1YearDuration	47944000	JPY
Depreciation and amortization ope cf	CurrentYearDuration	45585000	JPY
Impairment loss ope cf	Prior1YearDuration	－	JPY
Impairment loss ope cf	CurrentYearDuration	9330000	JPY
Amortization of goodwill ope cf	Prior1YearDuration	103879000	JPY
Amortization of goodwill ope cf	CurrentYearDuration	103879000	JPY
Increase decrease in allowance for doubtful accounts ope cf	Prior1YearDuration	710000	JPY
Increase decrease in allowance for doubtful accounts ope cf	CurrentYearDuration	1348000	JPY
Increase decrease in provision for bonuses ope cf	Prior1YearDuration	-562000	JPY
Increase decrease in provision for bonuses ope cf	CurrentYearDuration	269000	JPY
Increase decrease in net defined benefit liability ope cf	Prior1YearDuration	6744000	JPY
Increase decrease in net defined benefit liability ope cf	CurrentYearDuration	3078000	JPY
Interest and dividends income ope cf	Prior1YearDuration	-138000	JPY
Interest and dividends income ope cf	CurrentYearDuration	-881000	JPY
Interest expenses ope cf	Prior1YearDuration	19465000	JPY
Interest expenses ope cf	CurrentYearDuration	27293000	JPY
Foreign exchange losses gains ope cf	Prior1YearDuration	-2225000	JPY
Foreign exchange losses gains ope cf	CurrentYearDuration	22000	JPY
Stock issuance cost ope cf	Prior1YearDuration	5260000	JPY
Stock issuance cost ope cf	CurrentYearDuration	15831000	JPY
Loss on retirement of noncurrent assets ope cf	Prior1YearDuration	－	JPY
Loss on retirement of noncurrent assets ope cf	CurrentYearDuration	619000	JPY
Decrease increase in notes and accounts receivable trade ope cf	Prior1YearDuration	-94264000	JPY
Decrease increase in notes and accounts receivable trade ope cf	CurrentYearDuration	133708000	JPY
Decrease increase in inventories ope cf	Prior1YearDuration	64598000	JPY
Decrease increase in inventories ope cf	CurrentYearDuration	20682000	JPY
Decrease increase in advance payments ope cf	Prior1YearDuration	-36722000	JPY
Decrease increase in advance payments ope cf	CurrentYearDuration	19566000	JPY
Increase decrease in notes and accounts payable trade ope cf	Prior1YearDuration	1481000	JPY
Increase decrease in notes and accounts payable trade ope cf	CurrentYearDuration	-4646000	JPY
Increase decrease in accounts payable other ope cf	Prior1YearDuration	6641000	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 rounding
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