Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-23

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 133

Metric	Value	Period	Scope	Source row
Revenue	¥388m	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥472m	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥428m	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥448m	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥414m	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	−¥620m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	−¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥630m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	−¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥796m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥296m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥160m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	−¥630m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥1.3bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	−¥632m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥1.3bn	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥812m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥430m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥149m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	−¥632m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥1.3bn	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥2.2bn	at 2025-12-31	Cons.	Assets
Total assets	¥1.7bn	at 2024-12-31	Cons.	Assets
Total assets	¥2.4bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥3.0bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥2.5bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥734m	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥936m	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥1.4bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥734m	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥1.3bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥1.9bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥2.0bn	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	¥1.1bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥1.7bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.1bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.9bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.3bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥1.9bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥494m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥1.3bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥587m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥355m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥176m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥2m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥10m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥15m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥140m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥111m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥1.1bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥568m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥134m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥867m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥104m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-13.19	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-36.74	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-25.56	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-14.5	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-5.08	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
Net assets per share	¥26.44	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥17.59	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥39.81	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥60.14	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥68.27	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	66.1%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	43.9%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	53.9%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	62.8%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	81.4%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
Employees	19	at 2025-12-31	Cons.	Number of employees
Employees	21	at 2024-12-31	Cons.	Number of employees
Employees	21	at 2023-12-31^v	Cons.	Number of employees
Employees	20	at 2022-12-31^v	Cons.	Number of employees
Employees	19	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥388m	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥470m	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥428m	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥412m	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥412m	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	−¥567m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	−¥1.2bn	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	−¥571m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	−¥1.2bn	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥729m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥241m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥39m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	−¥621m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥1.3bn	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥622m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥1.3bn	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥853m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥387m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥241m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥2.1bn	at 2025-12-31	Standalone	Assets
Total assets	¥1.6bn	at 2024-12-31	Standalone	Assets
Total assets	¥2.4bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.0bn	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	¥731m	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥929m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥1.4bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥686m	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥1.3bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥1.9bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥2.0bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥1.7bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥1.1bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥-12.99	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-38.15	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-26.85	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-13.05	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-8.21	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
Net assets per share	¥25.75	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥16.45	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥39.88	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥61.53	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥68.27	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	65.6%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	42.4%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	54.0%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	63.9%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	82.6%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
Shares issued	54,251,712	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	41,625,512	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	32,128,012	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	30,871,138	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	29,358,600	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	19	at 2025-12-31	Standalone	Number of employees
Employees	19	at 2024-12-31	Standalone	Number of employees
Employees	19	at 2023-12-31^v	Standalone	Number of employees
Employees	17	at 2022-12-31^v	Standalone	Number of employees
Employees	16	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 · 1,191

Item	Context	Value	Unit
Net cash provided by used in financing activities (5-year summary)	Prior2YearDuration	134466000	JPY
Net cash provided by used in financing activities (5-year summary)	Prior1YearDuration	567628000	JPY
Net cash provided by used in financing activities (5-year summary)	CurrentYearDuration	1080014000	JPY
Cash and cash equivalents (5-year summary)	Prior4YearInstant	1933743000	JPY
Cash and cash equivalents (5-year summary)	Prior3YearInstant	2334668000	JPY
Cash and cash equivalents (5-year summary)	Prior2YearInstant	1867264000	JPY
Cash and cash equivalents (5-year summary)	Prior1YearInstant	1126035000	JPY
Cash and cash equivalents (5-year summary)	CurrentYearInstant	1709790000	JPY
Number of employees	Prior4YearInstant	19
Number of employees	Prior3YearInstant	20
Number of employees	Prior2YearInstant	21
Number of employees	Prior1YearInstant	21
Number of employees	CurrentYearInstant	19
Average number of temporary workers	Prior4YearInstant	－
Average number of temporary workers	Prior3YearInstant	－
Average number of temporary workers	Prior2YearInstant	－
Average number of temporary workers	Prior1YearInstant	－
Average number of temporary workers	CurrentYearInstant	－
Net sales (5-year summary)	Prior4YearDuration_NonConsolidatedMember	412121000	JPY
Net sales (5-year summary)	Prior3YearDuration_NonConsolidatedMember	411586000	JPY
Net sales (5-year summary)	Prior2YearDuration_NonConsolidatedMember	427968000	JPY
Net sales (5-year summary)	Prior1YearDuration_NonConsolidatedMember	469923000	JPY
Net sales (5-year summary)	CurrentYearDuration_NonConsolidatedMember	387595000	JPY
Ordinary income loss (5-year summary)	Prior4YearDuration_NonConsolidatedMember	-39043000	JPY
Ordinary income loss (5-year summary)	Prior3YearDuration_NonConsolidatedMember	-241322000	JPY
Ordinary income loss (5-year summary)	Prior2YearDuration_NonConsolidatedMember	-728655000	JPY
Ordinary income loss (5-year summary)	Prior1YearDuration_NonConsolidatedMember	-1178267000	JPY
Ordinary income loss (5-year summary)	CurrentYearDuration_NonConsolidatedMember	-571498000	JPY
Net income loss (5-year summary)	Prior4YearDuration_NonConsolidatedMember	-240741000	JPY
Net income loss (5-year summary)	Prior3YearDuration_NonConsolidatedMember	-386760000	JPY
Net income loss (5-year summary)	Prior2YearDuration_NonConsolidatedMember	-853205000	JPY
Net income loss (5-year summary)	Prior1YearDuration_NonConsolidatedMember	-1339857000	JPY
Net income loss (5-year summary)	CurrentYearDuration_NonConsolidatedMember	-622475000	JPY
Capital stock (5-year summary)	Prior4YearInstant_NonConsolidatedMember	573159000	JPY
Capital stock (5-year summary)	Prior3YearInstant_NonConsolidatedMember	714244000	JPY
Capital stock (5-year summary)	Prior2YearInstant_NonConsolidatedMember	831617000	JPY
Capital stock (5-year summary)	Prior1YearInstant_NonConsolidatedMember	1203277000	JPY
Capital stock (5-year summary)	CurrentYearInstant_NonConsolidatedMember	697340000	JPY
Total number of issued shares (5-year summary)	Prior4YearInstant_NonConsolidatedMember	29358600
Total number of issued shares (5-year summary)	Prior3YearInstant_NonConsolidatedMember	30871138
Total number of issued shares (5-year summary)	Prior2YearInstant_NonConsolidatedMember	32128012
Total number of issued shares (5-year summary)	Prior1YearInstant_NonConsolidatedMember	41625512
Total number of issued shares (5-year summary)	CurrentYearInstant_NonConsolidatedMember	54251712
Net assets (5-year summary)	Prior4YearInstant_NonConsolidatedMember	2006974000	JPY
Net assets (5-year summary)	Prior3YearInstant_NonConsolidatedMember	1900413000	JPY
Net assets (5-year summary)	Prior2YearInstant_NonConsolidatedMember	1281896000	JPY
Net assets (5-year summary)	Prior1YearInstant_NonConsolidatedMember	686449000	JPY
Net assets (5-year summary)	CurrentYearInstant_NonConsolidatedMember	1397640000	JPY
Total assets (5-year summary)	Prior4YearInstant_NonConsolidatedMember	2427279000	JPY
Total assets (5-year summary)	Prior3YearInstant_NonConsolidatedMember	2973159000	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 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