Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-27

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 141

Metric	Value	Period	Scope	Source row
Revenue	¥3.4bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥3.0bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥2.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥2.0bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥1.6bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	¥231m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥76m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥234m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥91m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥222m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥600m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥870m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥225m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥113m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥292m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥155m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥175m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥578m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥866m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥230m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥26,000	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥3.9bn	at 2025-12-31	Cons.	Assets
Total assets	¥3.4bn	at 2024-12-31	Cons.	Assets
Total assets	¥3.6bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥3.5bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥4.3bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥1.4bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥1.3bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥2.5bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥2.2bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥2.1bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥2.2bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥2.7bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥1.7bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥1.6bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥1.7bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.6bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.6bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.9bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥3.5bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥549m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥389m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥219m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥426m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥575m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥465m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥213m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥582m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥947m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥373m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥25m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥194m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥84m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥274m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥2.9bn	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥18.84	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥9.98	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-11.3	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-37.49	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-62.76	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥18.78	2025-01-01 → 2025-12-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥9.93	2024-01-01 → 2024-12-31	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥155.32	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥136.89	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥125.44	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥135.63	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥171.55	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	62.0%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	62.1%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	54.2%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	60.5%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	61.3%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	12.9%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	7.6%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
Employees	155	at 2025-12-31	Cons.	Number of employees
Employees	143	at 2024-12-31	Cons.	Number of employees
Employees	150	at 2023-12-31^v	Cons.	Number of employees
Employees	167	at 2022-12-31^v	Cons.	Number of employees
Employees	167	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥3.0bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥2.9bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥2.6bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥2.1bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥1.6bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	¥423m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥259m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥427m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥272m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥73m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥542m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥851m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥418m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥58m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥411m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥55m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥91m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥558m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥857m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥3.8bn	at 2025-12-31	Standalone	Assets
Total assets	¥3.4bn	at 2024-12-31	Standalone	Assets
Total assets	¥3.5bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.4bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥4.3bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥1.3bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥1.2bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥2.5bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥2.2bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥2.1bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥2.1bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥2.6bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥1.2bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥1.5bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥26.51	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥3.57	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-5.9	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-36.19	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-62.07	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥26.42	2025-01-01 → 2025-12-31	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥3.55	2024-01-01 → 2024-12-31	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥163.89	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥137.75	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥132.73	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥137.54	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥172.17	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	66.6%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	63.8%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	58.6%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	62.6%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	62.0%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	17.5%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	2.6%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
Shares issued	15,645,200	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,639,200	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,551,500	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,498,500	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	15,390,800	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	147	at 2025-12-31	Standalone	Number of employees
Employees	137	at 2024-12-31	Standalone	Number of employees
Employees	144	at 2023-12-31^v	Standalone	Number of employees
Employees	167	at 2022-12-31^v	Standalone	Number of employees
Employees	167	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 · 1,297

Item	Context	Value	Unit
Subscription rights to shares	Prior1YearInstant	5000	JPY
Subscription rights to shares	CurrentYearInstant	161000	JPY
Non controlling interests	Prior1YearInstant	25211000	JPY
Non controlling interests	CurrentYearInstant	85467000	JPY
Net assets	Prior1YearInstant	2162096000	JPY
Net assets	CurrentYearInstant	2484570000	JPY
Liabilities and net assets	Prior1YearInstant	3440340000	JPY
Liabilities and net assets	CurrentYearInstant	3871701000	JPY
Net sales	Prior1YearDuration	2961529000	JPY
Net sales	CurrentYearDuration	3384833000	JPY
Cost of sales	Prior1YearDuration	692565000	JPY
Cost of sales	CurrentYearDuration	841914000	JPY
Gross profit	Prior1YearDuration	2268964000	JPY
Gross profit	CurrentYearDuration	2542918000	JPY
Selling general and administrative expenses	Prior1YearDuration	2192627000	JPY
Selling general and administrative expenses	CurrentYearDuration	2311756000	JPY
Operating income	Prior1YearDuration	76336000	JPY
Operating income	CurrentYearDuration	231162000	JPY
Interest income noi	Prior1YearDuration	0	JPY
Interest income noi	CurrentYearDuration	1000	JPY
Dividends income noi	Prior1YearDuration	640000	JPY
Dividends income noi	CurrentYearDuration	746000	JPY
Subsidy income noi bounty	Prior1YearDuration	9917000	JPY
Subsidy income noi bounty	CurrentYearDuration	2304000	JPY
Penalty income noi	Prior1YearDuration	6320000	JPY
Penalty income noi	CurrentYearDuration	3790000	JPY
Other noi	Prior1YearDuration	1880000	JPY
Other noi	CurrentYearDuration	2617000	JPY
Non operating income	Prior1YearDuration	18758000	JPY
Non operating income	CurrentYearDuration	9460000	JPY
Interest expenses noe	Prior1YearDuration	1928000	JPY
Interest expenses noe	CurrentYearDuration	555000	JPY
Amortization of restricted stock remuneration noe	Prior1YearDuration	1885000	JPY
Amortization of restricted stock remuneration noe	CurrentYearDuration	2604000	JPY
Commission fee noe	Prior1YearDuration	－	JPY
Commission fee noe	CurrentYearDuration	499000	JPY
Compensation expenses noe	Prior1YearDuration	－	JPY
Compensation expenses noe	CurrentYearDuration	1848000	JPY
Other noe	Prior1YearDuration	265000	JPY
Other noe	CurrentYearDuration	754000	JPY
Non operating expenses	Prior1YearDuration	4078000	JPY
Non operating expenses	CurrentYearDuration	6262000	JPY
Ordinary income	Prior1YearDuration	91016000	JPY
Ordinary income	CurrentYearDuration	234360000	JPY
Loss on retirement of noncurrent assets el	Prior1YearDuration	50838000	JPY
Loss on retirement of noncurrent assets el	CurrentYearDuration	9239000	JPY
Impairment loss el	Prior1YearDuration	153125000	JPY
Impairment loss el	CurrentYearDuration	－	JPY
Extraordinary loss	Prior1YearDuration	203963000	JPY
Extraordinary loss	CurrentYearDuration	9239000	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 rounding
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