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
Number of voting rights issued shares voting rights	CurrentYearInstant_OrdinarySharesSharesWithFullVotingRightsOtherMember	420349
Number of shares issued shares voting rights	CurrentYearInstant_OrdinarySharesSharesLessThanOneUnitMember	18483
Number of shares issued shares voting rights	CurrentYearInstant	42261383
Number of voting rights issued shares voting rights	CurrentYearInstant	420349
Number of shares held in own name treasury shares etc	CurrentYearInstant_Row1Member	208000
Number of shares held in others names treasury shares etc	CurrentYearInstant_Row1Member	－
Total number of shares held treasury shares etc	CurrentYearInstant_Row1Member	208000
Shareholding ratio treasury shares etc	CurrentYearInstant_Row1Member	0.0049
Number of shares held in own name treasury shares etc	CurrentYearInstant	208000
Number of shares held in others names treasury shares etc	CurrentYearInstant	－
Total number of shares held treasury shares etc	CurrentYearInstant	208000
Shareholding ratio treasury shares etc	CurrentYearInstant	0.0049
Number of male directors and other officers	FilingDateInstant	7
Number of female directors and other officers	FilingDateInstant	1
Ratio of female directors and other officers	FilingDateInstant	0.125
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000YamamotoMasakiMember	22312051
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000InoueNaokiMember	576282
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000FukudaShojiMember	275133
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000MiyasakaTomohiroMember	28229
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000KumakuraAkikoMember	4056
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000MurataMasayukiMember	5130
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000HayakawaAkenobuMember	5130
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant_jpcrp030000-asr_E35124-000FukushimaFumiyukiMember	5130
Number of shares held ordinary shares information about directors and corporate auditors	FilingDateInstant	23211141
Number of male directors and other officers proposal	FilingDateInstant	7
Number of female directors and other officers proposal	FilingDateInstant	1
Ratio of female directors and other officers proposal	FilingDateInstant	0.125
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000YamamotoMasakiMember	22312051
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000InoueNaokiMember	576282
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000FukudaShojiMember	275133
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000MiyasakaTomohiroMember	28229
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000KumakuraAkikoMember	4056
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000MurataMasayukiMember	5130
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000HayakawaAkenobuMember	5130
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant_jpcrp030000-asr_E35124-000FukushimaFumiyukiMember	5130
Number of shares held ordinary shares information about directors and corporate auditors proposal	FilingDateInstant	23211141
Audit fees reporting company	Prior1YearDuration	60000000	JPY
Non audit fees reporting company	Prior1YearDuration	－	JPY
Audit fees reporting company	CurrentYearDuration	45000000	JPY
Non audit fees reporting company	CurrentYearDuration	－	JPY
Audit fees consolidated subsidiaries	Prior1YearDuration	－	JPY
Non audit fees consolidated subsidiaries	Prior1YearDuration	－	JPY
Audit fees consolidated subsidiaries	CurrentYearDuration	－	JPY
Non audit fees consolidated subsidiaries	CurrentYearDuration	－	JPY
Audit fees total	Prior1YearDuration	60000000	JPY
Non audit fees total	Prior1YearDuration	－	JPY
Audit fees total	CurrentYearDuration	45000000	JPY
Non audit fees total	CurrentYearDuration	－	JPY
Total amount of remuneration etc remuneration etc by category of directors and other officers	CurrentYearDuration_jpcrp030000-asr_E35124-000DirectorsExcludingAuditAndSupervisoryCommitteeMembersMember	158407000	JPY
Base remuneration remuneration etc by category of directors and other officers	CurrentYearDuration_jpcrp030000-asr_E35124-000DirectorsExcludingAuditAndSupervisoryCommitteeMembersMember	69408000	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