Annual report

Period2025-01-01 → 2025-12-31

Filed2026-04-21

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Amends S100XVCC. Amended by S100Y03H (2026-04-21).

Key figures · 141

Metric	Value	Period	Scope	Source row
Revenue	¥3.0bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥3.5bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥4.1bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥4.5bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥6.2bn	2021-01-01 → 2021-12-31^v	Cons.	Net sales (5-year summary)
Operating income	−¥188m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	−¥460m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥160m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	−¥387m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥207m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥963m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥869m	2021-01-01 → 2021-12-31^v	Cons.	Ordinary income loss (5-year summary)
Profit before tax	−¥534m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥428m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	−¥743m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥516m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥249m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥697m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥743m	2021-01-01 → 2021-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	−¥725m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥494m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥3.3bn	at 2025-12-31	Cons.	Assets
Total assets	¥4.1bn	at 2024-12-31	Cons.	Assets
Total assets	¥4.0bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥4.5bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥3.8bn	at 2021-12-31^v	Cons.	Total assets (5-year summary)
Total liabilities	¥1.3bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥1.6bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥1.9bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥2.5bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥2.9bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥3.1bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥2.5bn	at 2021-12-31^v	Cons.	Net assets (5-year summary)
Cash and deposits	¥1.5bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥1.9bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥1.5bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.9bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.8bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.1bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥1.7bn	at 2021-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥861m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥107m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥119m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥339m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥849m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	¥315m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥140m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥49m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥67m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	¥88m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥139m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	¥311m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥235m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥108m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥424m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-51.81	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-36.33	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-17.53	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥49.24	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥52.72	2021-01-01 → 2021-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥48.86	2022-01-01 → 2022-12-31^v	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥52.31	2021-01-01 → 2021-12-31^v	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥112.48	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥168	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥196.82	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥215.07	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥172.56	at 2021-12-31^v	Cons.	Net assets per share (5-year summary)
Equity ratio	54.9%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	58.4%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	70.6%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	67.5%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	63.4%	at 2021-12-31^v	Cons.	Equity to asset ratio (5-year summary)
ROE	25.4%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	35.7%	2021-01-01 → 2021-12-31^v	Cons.	Rate of return on equity (5-year summary)
Employees	159	at 2025-12-31	Cons.	Number of employees
Employees	173	at 2024-12-31	Cons.	Number of employees
Employees	194	at 2023-12-31^v	Cons.	Number of employees
Employees	217	at 2022-12-31^v	Cons.	Number of employees
Employees	191	at 2021-12-31^v	Cons.	Number of employees
Revenue	¥2.7bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥2.8bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥3.0bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥2.7bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥5.3bn	2021-01-01 → 2021-12-31^v	Standalone	Net sales (5-year summary)
Operating income	−¥173m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥116m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	−¥171m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥127m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥536m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥538m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥696m	2021-01-01 → 2021-12-31^v	Standalone	Ordinary income loss (5-year summary)
Profit before tax	−¥590m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥393m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥585m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥435m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥625m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥392m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥588m	2021-01-01 → 2021-12-31^v	Standalone	Net income loss (5-year summary)
Total assets	¥2.8bn	at 2025-12-31	Standalone	Assets
Total assets	¥3.6bn	at 2024-12-31	Standalone	Assets
Total assets	¥3.5bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥4.4bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥3.9bn	at 2021-12-31^v	Standalone	Total assets (5-year summary)
Total liabilities	¥962m	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥1.3bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥1.9bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥2.3bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥2.6bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥3.2bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥2.7bn	at 2021-12-31^v	Standalone	Net assets (5-year summary)
Cash and deposits	¥1.2bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥1.5bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥-40.76	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-30.64	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-44.02	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥27.71	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥41.71	2021-01-01 → 2021-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥27.5	2022-01-01 → 2022-12-31^v	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥41.38	2021-01-01 → 2021-12-31^v	Standalone	Diluted earnings per share (5-year summary)
Net assets per share	¥117.66	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥162.67	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥180.6	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥222.43	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥192.86	at 2021-12-31^v	Standalone	Net assets per share (5-year summary)
Equity ratio	66.0%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	64.8%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	73.8%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	72.4%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	69.0%	at 2021-12-31^v	Standalone	Equity to asset ratio (5-year summary)
ROE	13.3%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	24.5%	2021-01-01 → 2021-12-31^v	Standalone	Rate of return on equity (5-year summary)
Shares issued	15,899,482	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,248,282	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,248,282	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,203,853	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	14,147,374	at 2021-12-31^v	Standalone	Total number of issued shares (5-year summary)
Employees	136	at 2025-12-31	Standalone	Number of employees
Employees	162	at 2024-12-31	Standalone	Number of employees
Employees	149	at 2023-12-31^v	Standalone	Number of employees
Employees	126	at 2022-12-31^v	Standalone	Number of employees
Employees	124	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 · 1,415

Item	Context	Value	Unit
Increase decrease in cash and cash equivalents resulting from change of scope of consolidation cce	CurrentYearDuration	－	JPY
Cash and cash equivalents	Prior1YearInstant	1940205000	JPY
Cash and cash equivalents	CurrentYearInstant	1528242000	JPY
Number of consolidated subsidiaries	CurrentYearInstant	6
Number of unconsolidated subsidiaries and associates accounted for using equity method	CurrentYearInstant	1
Advertising expenses sga	Prior1YearDuration	80871000	JPY
Advertising expenses sga	CurrentYearDuration	32677000	JPY
Business consignment expenses sga	Prior1YearDuration	216048000	JPY
Business consignment expenses sga	CurrentYearDuration	359327000	JPY
Salaries and allowances sga	Prior1YearDuration	1095480000	JPY
Salaries and allowances sga	CurrentYearDuration	784475000	JPY
Depreciation sga	Prior1YearDuration	74022000	JPY
Depreciation sga	CurrentYearDuration	68744000	JPY
Compensations sga	Prior1YearDuration	323812000	JPY
Compensations sga	CurrentYearDuration	84475000	JPY
Provision of allowance for doubtful accounts sga	Prior1YearDuration	5520000	JPY
Provision of allowance for doubtful accounts sga	CurrentYearDuration	988000	JPY
Cash and deposits	Prior1YearInstant_NonConsolidatedMember	1521248000	JPY
Cash and deposits	CurrentYearInstant_NonConsolidatedMember	1152825000	JPY
Accounts receivable trade	Prior1YearInstant_NonConsolidatedMember	644680000	JPY
Accounts receivable trade	CurrentYearInstant_NonConsolidatedMember	702751000	JPY
Electronically recorded monetary claims operating ca	Prior1YearInstant_NonConsolidatedMember	45903000	JPY
Electronically recorded monetary claims operating ca	CurrentYearInstant_NonConsolidatedMember	27812000	JPY
Work in process	Prior1YearInstant_NonConsolidatedMember	23003000	JPY
Work in process	CurrentYearInstant_NonConsolidatedMember	－	JPY
Income taxes receivable	Prior1YearInstant_NonConsolidatedMember	95095000	JPY
Income taxes receivable	CurrentYearInstant_NonConsolidatedMember	－	JPY
Prepaid expenses	Prior1YearInstant_NonConsolidatedMember	94086000	JPY
Prepaid expenses	CurrentYearInstant_NonConsolidatedMember	58437000	JPY
Advances paid	Prior1YearInstant_NonConsolidatedMember	7890000	JPY
Advances paid	CurrentYearInstant_NonConsolidatedMember	20778000	JPY
Accounts receivable other	Prior1YearInstant_NonConsolidatedMember	9298000	JPY
Accounts receivable other	CurrentYearInstant_NonConsolidatedMember	12609000	JPY
Consumption taxes receivable	Prior1YearInstant_NonConsolidatedMember	6750000	JPY
Consumption taxes receivable	CurrentYearInstant_NonConsolidatedMember	79850000	JPY
Other ca	Prior1YearInstant_NonConsolidatedMember	23221000	JPY
Other ca	CurrentYearInstant_NonConsolidatedMember	8504000	JPY
Allowance for doubtful accounts ca	Prior1YearInstant_NonConsolidatedMember	-3178000	JPY
Allowance for doubtful accounts ca	CurrentYearInstant_NonConsolidatedMember	-4862000	JPY
Current assets	Prior1YearInstant_NonConsolidatedMember	2468001000	JPY
Current assets	CurrentYearInstant_NonConsolidatedMember	2058706000	JPY
Buildings net	Prior1YearInstant_NonConsolidatedMember	10362000	JPY
Buildings net	CurrentYearInstant_NonConsolidatedMember	10863000	JPY
Tools furniture and fixtures net	Prior1YearInstant_NonConsolidatedMember	8176000	JPY
Tools furniture and fixtures net	CurrentYearInstant_NonConsolidatedMember	4871000	JPY
Lease assets ppe	Prior1YearInstant_NonConsolidatedMember	9750000	JPY
Lease assets ppe	CurrentYearInstant_NonConsolidatedMember	8102000	JPY
Property plant and equipment	Prior1YearInstant_NonConsolidatedMember	28289000	JPY
Property plant and equipment	CurrentYearInstant_NonConsolidatedMember	23837000	JPY
Software	Prior1YearInstant_NonConsolidatedMember	212303000	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
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