Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-27

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 148

Metric	Value	Period	Scope	Source row
Revenue	¥37.4bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥29.7bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥25.4bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥22.1bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥18.5bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	¥10.1bn	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥4.9bn	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥10.3bn	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥5.3bn	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥3.6bn	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥987m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥1.5bn	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥10.3bn	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥5.2bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥7.1bn	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥3.6bn	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥2.5bn	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥66m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥551m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥7.0bn	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥3.6bn	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥30.1bn	at 2025-12-31	Cons.	Assets
Total assets	¥21.1bn	at 2024-12-31	Cons.	Assets
Total assets	¥19.2bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥15.9bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥14.0bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥12.3bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥9.5bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥17.8bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥11.6bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥11.3bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥4.6bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥6.4bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥11.7bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥5.6bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥11.7bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥5.6bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.5bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥5.1bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥4.8bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥10.7bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥5.6bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥4.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥1.3bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥472m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥3.1bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥3.1bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥2.5bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥3.1bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥1.5bn	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥1.4bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥3.6bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥777m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥1.9bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥1.7bn	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥153.17	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥74.99	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥52.29	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥1.45	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥12.03	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
Net assets per share	¥385.13	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥251.69	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥236.33	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥100.93	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥138.88	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	59.1%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	55.2%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	58.5%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	29.1%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	45.4%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	48.1%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	31.1%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	31.3%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	1.2%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	8.6%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	1,356	at 2025-12-31	Cons.	Number of employees
Employees	1,321	at 2024-12-31	Cons.	Number of employees
Employees	1,276	at 2023-12-31^v	Cons.	Number of employees
Employees	1,115	at 2022-12-31^v	Cons.	Number of employees
Employees	969	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥36.2bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥28.7bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥24.6bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥21.4bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥18.0bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	¥11.5bn	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥6.0bn	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥11.7bn	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥6.3bn	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥4.5bn	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥3.1bn	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥3.2bn	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥10.2bn	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥5.0bn	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥7.0bn	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥3.4bn	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	¥2.4bn	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥113m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥226m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥28.3bn	at 2025-12-31	Standalone	Assets
Total assets	¥19.8bn	at 2024-12-31	Standalone	Assets
Total assets	¥18.2bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥14.9bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥13.0bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥12.2bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥9.8bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥16.1bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥10.1bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥9.9bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥3.4bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥5.1bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥9.3bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥3.9bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥150.69	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥71.76	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥50.84	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥2.47	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥4.94	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
Dividend per share	¥40	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥30	2024-01-01 → 2024-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥14	2023-01-01 → 2023-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥13	2022-01-01 → 2022-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥12	2021-01-01 → 2021-12-31^d	Standalone	Dividend paid per share (5-year summary)
Net assets per share	¥347.78	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥217.89	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥206.96	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥73.18	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥110.83	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	56.8%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	50.8%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	54.2%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	22.5%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	39.2%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	53.3%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	34.1%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	36.6%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	2.7%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	4.3%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	52,757,800	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	52,757,800	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	52,757,800	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	52,757,800	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	52,757,800	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	1,080	at 2025-12-31	Standalone	Number of employees
Employees	1,030	at 2024-12-31	Standalone	Number of employees
Employees	1,003	at 2023-12-31^v	Standalone	Number of employees
Employees	870	at 2022-12-31^v	Standalone	Number of employees
Employees	737	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 · 1,400

Item	Context	Value	Unit
Advertising expenses sga	Prior1YearDuration	5618000000	JPY
Advertising expenses sga	CurrentYearDuration	6370000000	JPY
Research and development expenses sga	Prior1YearDuration	1228000000	JPY
Research and development expenses sga	CurrentYearDuration	1491000000	JPY
Retirement benefit expenses sga	Prior1YearDuration	35000000	JPY
Retirement benefit expenses sga	CurrentYearDuration	35000000	JPY
Other sga	Prior1YearDuration	4638000000	JPY
Other sga	CurrentYearDuration	4937000000	JPY
Selling general and administrative expenses	Prior1YearDuration	21842000000	JPY
Selling general and administrative expenses	CurrentYearDuration	23593000000	JPY
Operating income	Prior1YearDuration	4892000000	JPY
Operating income	CurrentYearDuration	10101000000	JPY
Interest income noi	Prior1YearDuration	6000000	JPY
Interest income noi	CurrentYearDuration	14000000	JPY
Dividends income noi	Prior1YearDuration	17000000	JPY
Dividends income noi	CurrentYearDuration	20000000	JPY
Gain on investments in partnership noi	Prior1YearDuration	－	JPY
Gain on investments in partnership noi	CurrentYearDuration	13000000	JPY
Co sponsor fee noi	Prior1YearDuration	171000000	JPY
Co sponsor fee noi	CurrentYearDuration	184000000	JPY
Foreign exchange gains noi	Prior1YearDuration	270000000	JPY
Foreign exchange gains noi	CurrentYearDuration	－	JPY
Membership fee income noi	Prior1YearDuration	44000000	JPY
Membership fee income noi	CurrentYearDuration	48000000	JPY
Other noi	Prior1YearDuration	33000000	JPY
Other noi	CurrentYearDuration	25000000	JPY
Non operating income	Prior1YearDuration	543000000	JPY
Non operating income	CurrentYearDuration	307000000	JPY
Interest expenses noe	Prior1YearDuration	0	JPY
Interest expenses noe	CurrentYearDuration	0	JPY
Contract costs noe	Prior1YearDuration	12000000	JPY
Contract costs noe	CurrentYearDuration	10000000	JPY
Loss on sales of accounts receivable noe	Prior1YearDuration	46000000	JPY
Loss on sales of accounts receivable noe	CurrentYearDuration	58000000	JPY
Loss on investments in partnership noe	Prior1YearDuration	31000000	JPY
Loss on investments in partnership noe	CurrentYearDuration	－	JPY
Foreign exchange losses noe	Prior1YearDuration	－	JPY
Foreign exchange losses noe	CurrentYearDuration	11000000	JPY
Other noe	Prior1YearDuration	9000000	JPY
Other noe	CurrentYearDuration	1000000	JPY
Non operating expenses	Prior1YearDuration	100000000	JPY
Non operating expenses	CurrentYearDuration	82000000	JPY
Ordinary income	Prior1YearDuration	5335000000	JPY
Ordinary income	CurrentYearDuration	10325000000	JPY
Gain on sales of noncurrent assets ei	Prior1YearDuration	0	JPY
Gain on sales of noncurrent assets ei	CurrentYearDuration	0	JPY
Gain on donation of noncurrent assets ei	Prior1YearDuration	－	JPY
Gain on donation of noncurrent assets ei	CurrentYearDuration	81000000	JPY
Extraordinary income	Prior1YearDuration	0	JPY
Extraordinary income	CurrentYearDuration	81000000	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
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