Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-26

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Amended by S100XVWV (2026-03-31).

Key figures · 137

Metric	Value	Period	Scope	Source row
Revenue	¥981m	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥1.4bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥1.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥1.5bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥1.3bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	−¥391m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	−¥282m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥382m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	−¥287m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	−¥167m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥56m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥175m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	−¥332m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥581m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	−¥336m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥586m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥203m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥72m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥182m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	−¥336m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥586m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥1.4bn	at 2025-12-31	Cons.	Assets
Total assets	¥1.9bn	at 2024-12-31	Cons.	Assets
Total assets	¥1.5bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥1.7bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥977m	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥191m	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥315m	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥1.2bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥1.6bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥1.1bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥1.3bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥310m	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥1.2bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥1.3bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥1.2bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.3bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥912m	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.4bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥787m	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥110m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥479m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥184m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥160m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥115m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	¥44m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥72m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥289m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥81m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥12m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥47m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥911m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥2m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥840m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥843m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-27.41	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-51.57	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-19.8	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥8.22	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-25.4	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥7.51	2022-01-01 → 2022-12-31^v	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥99.81	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥127.27	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥110.58	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥126.97	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥36.77	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	86.5%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	83.2%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	77.0%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	72.8%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	31.7%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	9.1%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
Employees	126	at 2025-12-31	Cons.	Number of employees
Employees	144	at 2024-12-31	Cons.	Number of employees
Employees	145	at 2023-12-31^v	Cons.	Number of employees
Employees	124	at 2022-12-31^v	Cons.	Number of employees
Employees	111	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥943m	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥1.2bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥1.0bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥1.3bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥1.1bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	−¥383m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	−¥252m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	−¥351m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	−¥279m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	−¥180m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥30m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥150m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	−¥332m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥541m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥336m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥545m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥207m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥62m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥207m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥1.4bn	at 2025-12-31	Standalone	Assets
Total assets	¥1.9bn	at 2024-12-31	Standalone	Assets
Total assets	¥1.4bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥1.7bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥948m	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥192m	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥295m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥1.2bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥1.6bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥1.1bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥1.2bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥282m	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	¥1.2bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥-27.41	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-47.98	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-20.15	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥7.17	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-29	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥6.55	2022-01-01 → 2022-12-31^v	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥99.81	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥127.27	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥106.65	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥123.23	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥33.45	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	86.4%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	84.1%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	78.4%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	73.1%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	29.7%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	8.3%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
Shares issued	12,264,800	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	12,260,240	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	10,359,160	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,923,220	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	421,161	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	126	at 2025-12-31	Standalone	Number of employees
Employees	131	at 2024-12-31	Standalone	Number of employees
Employees	127	at 2023-12-31^v	Standalone	Number of employees
Employees	108	at 2022-12-31^v	Standalone	Number of employees
Employees	96	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 · 1,213

Item	Context	Value	Unit
Asset retirement obligations ncl	Prior1YearInstant	27755000	JPY
Asset retirement obligations ncl	CurrentYearInstant	23300000	JPY
Noncurrent liabilities	Prior1YearInstant	50955000	JPY
Noncurrent liabilities	CurrentYearInstant	36900000	JPY
Liabilities	Prior1YearInstant	314868000	JPY
Liabilities	CurrentYearInstant	191136000	JPY
Capital stock	Prior1YearInstant	1057835000	JPY
Capital stock	CurrentYearInstant	50011000	JPY
Capital surplus	Prior1YearInstant	2359606000	JPY
Capital surplus	CurrentYearInstant	1510319000	JPY
Retained earnings	Prior1YearInstant	-1857133000	JPY
Retained earnings	CurrentYearInstant	-336159000	JPY
Shareholders equity	Prior1YearInstant	1560308000	JPY
Shareholders equity	CurrentYearInstant	1224171000	JPY
Subscription rights to shares	Prior1YearInstant	28000	JPY
Subscription rights to shares	CurrentYearInstant	27000	JPY
Net assets	Prior1YearInstant	1560336000	JPY
Net assets	CurrentYearInstant	1224199000	JPY
Liabilities and net assets	Prior1YearInstant	1875204000	JPY
Liabilities and net assets	CurrentYearInstant	1415335000	JPY
Net sales	Prior1YearDuration	1429196000	JPY
Net sales	CurrentYearDuration	980881000	JPY
Cost of sales	Prior1YearDuration	967927000	JPY
Cost of sales	CurrentYearDuration	643455000	JPY
Gross profit	Prior1YearDuration	461269000	JPY
Gross profit	CurrentYearDuration	337426000	JPY
Selling general and administrative expenses	Prior1YearDuration	743095000	JPY
Selling general and administrative expenses	CurrentYearDuration	728219000	JPY
Operating income	Prior1YearDuration	-281826000	JPY
Operating income	CurrentYearDuration	-390792000	JPY
Interest income noi	Prior1YearDuration	103000	JPY
Interest income noi	CurrentYearDuration	2111000	JPY
House rent income noi	Prior1YearDuration	2786000	JPY
House rent income noi	CurrentYearDuration	6703000	JPY
Subsidy income noi	Prior1YearDuration	696000	JPY
Subsidy income noi	CurrentYearDuration	319000	JPY
Other noi	Prior1YearDuration	759000	JPY
Other noi	CurrentYearDuration	441000	JPY
Non operating income	Prior1YearDuration	4344000	JPY
Non operating income	CurrentYearDuration	9575000	JPY
Interest expenses noe	Prior1YearDuration	2132000	JPY
Interest expenses noe	CurrentYearDuration	735000	JPY
Foreign exchange losses noe	Prior1YearDuration	171000	JPY
Foreign exchange losses noe	CurrentYearDuration	－	JPY
Consumption tax difference noe	Prior1YearDuration	225000	JPY
Consumption tax difference noe	CurrentYearDuration	515000	JPY
Stock issuance cost noe	Prior1YearDuration	6602000	JPY
Stock issuance cost noe	CurrentYearDuration	－	JPY
Non operating expenses	Prior1YearDuration	9132000	JPY
Non operating expenses	CurrentYearDuration	1250000	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
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