Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-27

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 128

Metric	Value	Period	Scope	Source row
Revenue	¥19.0bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥15.0bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥11.8bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥9.3bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Operating income	−¥82m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	−¥581m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥119m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	−¥624m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥1.1bn	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥1.3bn	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥279m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥1.5bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥438m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥1.6bn	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥1.4bn	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥1.4bn	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥437m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥1.6bn	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥12.1bn	at 2025-12-31	Cons.	Assets
Total assets	¥11.0bn	at 2024-12-31	Cons.	Assets
Total assets	¥11.7bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥12.7bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total liabilities	¥2.9bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥2.5bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥9.2bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥8.6bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥10.0bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥11.2bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Cash and deposits	¥6.8bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥6.8bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥5.7bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.7bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥7.1bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥8.7bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥124m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥101m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥1.4bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥1.5bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥1.2bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥275m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥311m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥1.4bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥104m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥39m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥142m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥108m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥7.88	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-28.07	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-26.34	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-27.05	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥7.78	2025-01-01 → 2025-12-31	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥162.76	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥153.97	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥181.26	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥208.56	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Equity ratio	75.0%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	77.4%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	85.6%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	88.3%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
ROE	5.0%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
Employees	548	at 2025-12-31	Cons.	Number of employees
Employees	470	at 2024-12-31	Cons.	Number of employees
Employees	428	at 2023-12-31^v	Cons.	Number of employees
Employees	337	at 2022-12-31^v	Cons.	Number of employees
Revenue	¥18.9bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥15.0bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥11.8bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥9.3bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥8.5bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	−¥24m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	−¥536m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥5m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	−¥528m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥1.1bn	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥1.3bn	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥154m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥269m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥1.4bn	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥428m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥1.5bn	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥1.4bn	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥1.4bn	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥174m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥12.1bn	at 2025-12-31	Standalone	Assets
Total assets	¥11.1bn	at 2024-12-31	Standalone	Assets
Total assets	¥11.7bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥12.7bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥13.7bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥2.9bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥2.4bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥9.2bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥8.7bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥10.1bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥11.2bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥12.5bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥6.3bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥6.7bn	at 2024-12-31	Standalone	Cash and deposits
Cash & equivalents	¥11.5bn	at 2021-12-31^d	Standalone	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥276m	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥118m	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥10.4bn	2021-01-01 → 2021-12-31^d	Standalone	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥7.7	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-26.44	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-25.63	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-26.9	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-3.69	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥7.61	2025-01-01 → 2025-12-31	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥164.53	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥156.3	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥182.09	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥208.71	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥240.22	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	76.0%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	78.0%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	85.6%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	88.3%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	91.3%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	4.8%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
Shares issued	55,729,765	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	55,449,850	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	55,256,695	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	53,876,476	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	52,143,000	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	534	at 2025-12-31	Standalone	Number of employees
Employees	466	at 2024-12-31	Standalone	Number of employees
Employees	428	at 2023-12-31^v	Standalone	Number of employees
Employees	337	at 2022-12-31^v	Standalone	Number of employees
Employees	256	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 · 1,394

Item	Context	Value	Unit
Lease assets ppe	Prior1YearInstant	－	JPY
Lease assets ppe	CurrentYearInstant	119000	JPY
Accumulated depreciation lease assets ppe	Prior1YearInstant	－	JPY
Accumulated depreciation lease assets ppe	CurrentYearInstant	-119000	JPY
Lease assets net ppe	Prior1YearInstant	－	JPY
Lease assets net ppe	CurrentYearInstant	－	JPY
Other ppe	Prior1YearInstant	－	JPY
Other ppe	CurrentYearInstant	15537000	JPY
Accumulated depreciation other ppe	Prior1YearInstant	－	JPY
Accumulated depreciation other ppe	CurrentYearInstant	-2313000	JPY
Other net ppe	Prior1YearInstant	－	JPY
Other net ppe	CurrentYearInstant	13223000	JPY
Property plant and equipment	Prior1YearInstant	487000	JPY
Property plant and equipment	CurrentYearInstant	15457000	JPY
Investment securities	Prior1YearInstant	567842000	JPY
Investment securities	CurrentYearInstant	328615000	JPY
Deferred tax assets	Prior1YearInstant	－	JPY
Deferred tax assets	CurrentYearInstant	408660000	JPY
Other ioa	Prior1YearInstant	208832000	JPY
Other ioa	CurrentYearInstant	394545000	JPY
Investments and other assets	Prior1YearInstant	776675000	JPY
Investments and other assets	CurrentYearInstant	1131821000	JPY
Noncurrent assets	Prior1YearInstant	777163000	JPY
Noncurrent assets	CurrentYearInstant	1147278000	JPY
Deferred organization expenses da	Prior1YearInstant	598000	JPY
Deferred organization expenses da	CurrentYearInstant	1482000	JPY
Deferred assets	Prior1YearInstant	598000	JPY
Deferred assets	CurrentYearInstant	1482000	JPY
Assets	Prior1YearInstant	11024087000	JPY
Assets	CurrentYearInstant	12080583000	JPY
Accounts payable trade	Prior1YearInstant	1094652000	JPY
Accounts payable trade	CurrentYearInstant	1042189000	JPY
Accounts payable other	Prior1YearInstant	613242000	JPY
Accounts payable other	CurrentYearInstant	679756000	JPY
Current portion of long term loans payable	Prior1YearInstant	1656000	JPY
Current portion of long term loans payable	CurrentYearInstant	892000	JPY
Income taxes payable	Prior1YearInstant	75450000	JPY
Income taxes payable	CurrentYearInstant	322751000	JPY
Contract liabilities	Prior1YearInstant	55771000	JPY
Contract liabilities	CurrentYearInstant	86199000	JPY
Provision for bonuses	Prior1YearInstant	186480000	JPY
Provision for bonuses	CurrentYearInstant	210715000	JPY
Other cl	Prior1YearInstant	381267000	JPY
Other cl	CurrentYearInstant	470721000	JPY
Current liabilities	Prior1YearInstant	2408521000	JPY
Current liabilities	CurrentYearInstant	2813226000	JPY
Long term loans payable	Prior1YearInstant	892000	JPY
Long term loans payable	CurrentYearInstant	－	JPY
Deferred tax liabilities	Prior1YearInstant	5507000	JPY
Deferred tax liabilities	CurrentYearInstant	9634000	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 rounding
balance sheet identity	non_consolidated 2024-12-31	pass rounding
balance sheet identity	non_consolidated 2025-12-31	pass rounding
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