Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-23

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 137

Metric	Value	Period	Scope	Source row
Revenue	¥9.5bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥8.5bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥6.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥4.6bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥3.4bn	2021-01-01 → 2021-12-31^v	Cons.	Net sales (5-year summary)
Operating income	¥485m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥97m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥458m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥75m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥686m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥716m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥711m	2021-01-01 → 2021-12-31^v	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥458m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥215m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥620m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥679m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥746m	2021-01-01 → 2021-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥215m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥6.7bn	at 2025-12-31	Cons.	Assets
Total assets	¥6.1bn	at 2024-12-31	Cons.	Assets
Total assets	¥6.3bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥5.4bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥5.1bn	at 2021-12-31^v	Cons.	Total assets (5-year summary)
Total liabilities	¥4.7bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥4.5bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥2.0bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥1.6bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥2.4bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥2.9bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥3.4bn	at 2021-12-31^v	Cons.	Net assets (5-year summary)
Cash and deposits	¥3.5bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥2.9bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥3.1bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.9bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.1bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.9bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥3.2bn	at 2021-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥938m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥1.5bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥470m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥284m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥475m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥586m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥650m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥1.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥517m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥840m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥157m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥15m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥237m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥451m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥2.7bn	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥5.14	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-28.59	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-15.45	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-17.11	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-20.05	2021-01-01 → 2021-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥5.05	2025-01-01 → 2025-12-31	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥47.56	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥38.38	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥59.66	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥69.86	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥83.09	at 2021-12-31^v	Cons.	Net assets per share (5-year summary)
Equity ratio	29.9%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	26.1%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	38.6%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	51.8%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	63.7%	at 2021-12-31^v	Cons.	Equity to asset ratio (5-year summary)
ROE	12.0%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
Employees	658	at 2025-12-31	Cons.	Number of employees
Employees	582	at 2024-12-31	Cons.	Number of employees
Employees	459	at 2023-12-31^v	Cons.	Number of employees
Employees	314	at 2022-12-31^v	Cons.	Number of employees
Employees	251	at 2021-12-31^v	Cons.	Number of employees
Revenue	¥7.6bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥7.1bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥5.6bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥4.2bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥3.2bn	2021-01-01 → 2021-12-31^v	Standalone	Net sales (5-year summary)
Operating income	¥1.4bn	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥863m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥1.4bn	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥854m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥335m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥589m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥652m	2021-01-01 → 2021-12-31^v	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥507m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥1.7bn	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥215m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥1.8bn	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥187m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥594m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥657m	2021-01-01 → 2021-12-31^v	Standalone	Net income loss (5-year summary)
Total assets	¥5.8bn	at 2025-12-31	Standalone	Assets
Total assets	¥5.5bn	at 2024-12-31	Standalone	Assets
Total assets	¥6.2bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥5.4bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥5.0bn	at 2021-12-31^v	Standalone	Total assets (5-year summary)
Total liabilities	¥3.8bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥3.9bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥2.0bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥1.6bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥3.0bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥3.0bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥3.4bn	at 2021-12-31^v	Standalone	Net assets (5-year summary)
Cash and deposits	¥2.2bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥2.5bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥5.14	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-43.39	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-4.65	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-14.98	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-17.67	2021-01-01 → 2021-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥5.05	2025-01-01 → 2025-12-31	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥47.55	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥38.37	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥74.6	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥74.2	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥85.35	at 2021-12-31^v	Standalone	Net assets per share (5-year summary)
Equity ratio	34.4%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	29.0%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	48.6%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	54.7%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	66.7%	at 2021-12-31^v	Standalone	Equity to asset ratio (5-year summary)
ROE	12.0%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
Shares issued	42,261,383	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	41,762,101	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	40,627,295	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	39,941,702	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	39,425,840	at 2021-12-31^v	Standalone	Total number of issued shares (5-year summary)
Employees	355	at 2025-12-31	Standalone	Number of employees
Employees	420	at 2024-12-31	Standalone	Number of employees
Employees	394	at 2023-12-31^v	Standalone	Number of employees
Employees	314	at 2022-12-31^v	Standalone	Number of employees
Employees	251	at 2021-12-31^v	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 · 1,398

Item	Context	Value	Unit
Total changes of items during the period	Prior1YearDuration_DeferredGainsOrLossesOnHedgesMember	2818000	JPY
Total changes of items during the period	Prior1YearDuration_ValuationAndTranslationAdjustmentsMember	1050000	JPY
Total changes of items during the period	Prior1YearDuration	-823427000	JPY
Net assets	Prior1YearInstant_ValuationDifferenceOnAvailableForSaleSecuritiesMember	-1768000	JPY
Net assets	Prior1YearInstant_DeferredGainsOrLossesOnHedgesMember	2818000	JPY
Net assets	Prior1YearInstant_ValuationAndTranslationAdjustmentsMember	1050000	JPY
Net assets	Prior1YearInstant	1598791000	JPY
Net assets	Prior1YearInstant_CapitalStockMember	2922256000	JPY
Net assets	Prior1YearInstant_CapitalSurplusMember	2908116000	JPY
Net assets	Prior1YearInstant_RetainedEarningsMember	-4232517000	JPY
Net assets	Prior1YearInstant_TreasuryStockMember	-115000	JPY
Net assets	Prior1YearInstant_ShareholdersEquityMember	1597741000	JPY
Issuance of new shares	CurrentYearDuration_CapitalStockMember	86008000	JPY
Issuance of new shares	CurrentYearDuration_CapitalSurplusMember	86008000	JPY
Issuance of new shares	CurrentYearDuration_ShareholdersEquityMember	172017000	JPY
Profit loss attributable to owners of parent	CurrentYearDuration_RetainedEarningsMember	215051000	JPY
Profit loss attributable to owners of parent	CurrentYearDuration_ShareholdersEquityMember	215051000	JPY
Purchase of treasury stock	CurrentYearDuration_TreasuryStockMember	-0	JPY
Purchase of treasury stock	CurrentYearDuration_ShareholdersEquityMember	-0	JPY
Total changes of items during the period	CurrentYearDuration_CapitalStockMember	86008000	JPY
Total changes of items during the period	CurrentYearDuration_CapitalSurplusMember	86008000	JPY
Total changes of items during the period	CurrentYearDuration_RetainedEarningsMember	215051000	JPY
Total changes of items during the period	CurrentYearDuration_TreasuryStockMember	-0	JPY
Total changes of items during the period	CurrentYearDuration_ShareholdersEquityMember	387068000	JPY
Net assets	CurrentYearInstant_CapitalStockMember	3008265000	JPY
Net assets	CurrentYearInstant_CapitalSurplusMember	2994125000	JPY
Net assets	CurrentYearInstant_RetainedEarningsMember	-4017465000	JPY
Net assets	CurrentYearInstant_TreasuryStockMember	-115000	JPY
Net assets	CurrentYearInstant_ShareholdersEquityMember	1984810000	JPY
Net assets	Prior1YearInstant_ValuationDifferenceOnAvailableForSaleSecuritiesMember	-1768000	JPY
Net assets	Prior1YearInstant_DeferredGainsOrLossesOnHedgesMember	2818000	JPY
Net assets	Prior1YearInstant_ValuationAndTranslationAdjustmentsMember	1050000	JPY
Net assets	Prior1YearInstant	1598791000	JPY
Issuance of new shares	CurrentYearDuration	172017000	JPY
Profit loss attributable to owners of parent	CurrentYearDuration	215051000	JPY
Purchase of treasury stock	CurrentYearDuration	-0	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ValuationDifferenceOnAvailableForSaleSecuritiesMember	4281000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_DeferredGainsOrLossesOnHedgesMember	9786000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	14068000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration	14068000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationDifferenceOnAvailableForSaleSecuritiesMember	4281000	JPY
Total changes of items during the period	CurrentYearDuration_DeferredGainsOrLossesOnHedgesMember	9786000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	14068000	JPY
Total changes of items during the period	CurrentYearDuration	401137000	JPY
Net assets	CurrentYearInstant_ValuationDifferenceOnAvailableForSaleSecuritiesMember	2513000	JPY
Net assets	CurrentYearInstant_DeferredGainsOrLossesOnHedgesMember	12605000	JPY
Net assets	CurrentYearInstant_ValuationAndTranslationAdjustmentsMember	15118000	JPY
Net assets	CurrentYearInstant	1999928000	JPY
Income before income taxes	Prior1YearDuration	-1218567000	JPY
Income before income taxes	CurrentYearDuration	458084000	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
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