Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-26

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 148

Metric	Value	Period	Scope	Source row
Revenue	¥55.4bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥47.5bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥41.4bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥36.3bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥31.6bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	¥4.3bn	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥3.6bn	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥4.2bn	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥3.5bn	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥3.7bn	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥3.4bn	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥2.8bn	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥4.2bn	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥3.5bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥2.8bn	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥2.4bn	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)	¥2.1bn	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥1.9bn	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥2.8bn	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥2.4bn	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥26.3bn	at 2025-12-31	Cons.	Assets
Total assets	¥21.7bn	at 2024-12-31	Cons.	Assets
Total assets	¥19.0bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥16.1bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥13.9bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥11.6bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥9.2bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥14.7bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥12.5bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥10.8bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥9.0bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥7.5bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥6.8bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥6.8bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥6.8bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.8bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥5.5bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.0bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥5.6bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥4.3bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥4.5bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥1.8bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥1.6bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥2.1bn	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥3.5bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥2.2bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥1.7bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥625m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥358m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥846m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥850m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥667m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥553m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥614m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥45.77	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥38.94	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥41.66	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥34.45	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥31.49	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
Net assets per share	¥238.8	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥206.77	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥178.86	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥148.69	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥123.78	at 2021-12-31^d	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	57.6%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	56.9%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	55.9%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	53.7%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	20.5%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	20.2%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	25.4%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	25.3%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	27.9%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	974	at 2025-12-31	Cons.	Number of employees
Employees	676	at 2024-12-31	Cons.	Number of employees
Employees	378	at 2023-12-31^v	Cons.	Number of employees
Employees	349	at 2022-12-31^v	Cons.	Number of employees
Employees	320	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥53.0bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥47.1bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥41.3bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥36.2bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥31.6bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	¥3.0bn	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥2.4bn	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥3.4bn	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥3.3bn	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥3.4bn	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥3.2bn	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥2.6bn	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥3.4bn	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥3.3bn	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥2.4bn	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥2.4bn	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	¥2.0bn	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥1.8bn	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥23.5bn	at 2025-12-31	Standalone	Assets
Total assets	¥20.7bn	at 2024-12-31	Standalone	Assets
Total assets	¥18.5bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥15.7bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥13.6bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥10.0bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥8.7bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥13.5bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥12.0bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥10.3bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥8.6bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥7.2bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥5.1bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥5.7bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥38.93	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥38.94	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥39.07	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥33.1	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥29.2	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
Dividend per share	¥15	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥13	2024-01-01 → 2024-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥13	2023-01-01 → 2023-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥11	2022-01-01 → 2022-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥9	2021-01-01 → 2021-12-31^d	Standalone	Dividend paid per share (5-year summary)
Net assets per share	¥223.86	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥197.68	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥170.54	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥142.95	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥119.39	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	57.5%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	57.9%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	55.8%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	55.0%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	53.0%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	18.5%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	21.2%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	24.9%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	25.2%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	26.6%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	60,600,000	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	60,600,000	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	60,600,000	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	60,600,000	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	60,600,000	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	310	at 2025-12-31	Standalone	Number of employees
Employees	303	at 2024-12-31	Standalone	Number of employees
Employees	291	at 2023-12-31^v	Standalone	Number of employees
Employees	280	at 2022-12-31^v	Standalone	Number of employees
Employees	262	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 · 1,373

Item	Context	Value	Unit
Total assets (5-year summary)	Prior4YearInstant_NonConsolidatedMember	13618027000	JPY
Total assets (5-year summary)	Prior3YearInstant_NonConsolidatedMember	15716340000	JPY
Total assets (5-year summary)	Prior2YearInstant_NonConsolidatedMember	18477837000	JPY
Total assets (5-year summary)	Prior1YearInstant_NonConsolidatedMember	20650268000	JPY
Total assets (5-year summary)	CurrentYearInstant_NonConsolidatedMember	23532923000	JPY
Net assets per share (5-year summary)	Prior4YearInstant_NonConsolidatedMember	119.39
Net assets per share (5-year summary)	Prior3YearInstant_NonConsolidatedMember	142.95
Net assets per share (5-year summary)	Prior2YearInstant_NonConsolidatedMember	170.54
Net assets per share (5-year summary)	Prior1YearInstant_NonConsolidatedMember	197.68
Net assets per share (5-year summary)	CurrentYearInstant_NonConsolidatedMember	223.86
Dividend paid per share (5-year summary)	Prior4YearDuration_NonConsolidatedMember	9.00
Dividend paid per share (5-year summary)	Prior3YearDuration_NonConsolidatedMember	11.00
Dividend paid per share (5-year summary)	Prior2YearDuration_NonConsolidatedMember	13.00
Dividend paid per share (5-year summary)	Prior1YearDuration_NonConsolidatedMember	13.00
Dividend paid per share (5-year summary)	CurrentYearDuration_NonConsolidatedMember	15.00
Interim dividend paid per share (5-year summary)	Prior4YearDuration_NonConsolidatedMember	－
Interim dividend paid per share (5-year summary)	Prior3YearDuration_NonConsolidatedMember	－
Interim dividend paid per share (5-year summary)	Prior2YearDuration_NonConsolidatedMember	－
Interim dividend paid per share (5-year summary)	Prior1YearDuration_NonConsolidatedMember	－
Interim dividend paid per share (5-year summary)	CurrentYearDuration_NonConsolidatedMember	－
Basic earnings loss per share (5-year summary)	Prior4YearDuration_NonConsolidatedMember	29.20
Basic earnings loss per share (5-year summary)	Prior3YearDuration_NonConsolidatedMember	33.10
Basic earnings loss per share (5-year summary)	Prior2YearDuration_NonConsolidatedMember	39.07
Basic earnings loss per share (5-year summary)	Prior1YearDuration_NonConsolidatedMember	38.94
Basic earnings loss per share (5-year summary)	CurrentYearDuration_NonConsolidatedMember	38.93
Diluted earnings per share (5-year summary)	Prior4YearDuration_NonConsolidatedMember	－
Diluted earnings per share (5-year summary)	Prior3YearDuration_NonConsolidatedMember	－
Diluted earnings per share (5-year summary)	Prior2YearDuration_NonConsolidatedMember	－
Diluted earnings per share (5-year summary)	Prior1YearDuration_NonConsolidatedMember	－
Diluted earnings per share (5-year summary)	CurrentYearDuration_NonConsolidatedMember	－
Equity to asset ratio (5-year summary)	Prior4YearInstant_NonConsolidatedMember	0.530
Equity to asset ratio (5-year summary)	Prior3YearInstant_NonConsolidatedMember	0.550
Equity to asset ratio (5-year summary)	Prior2YearInstant_NonConsolidatedMember	0.558
Equity to asset ratio (5-year summary)	Prior1YearInstant_NonConsolidatedMember	0.579
Equity to asset ratio (5-year summary)	CurrentYearInstant_NonConsolidatedMember	0.575
Rate of return on equity (5-year summary)	Prior4YearDuration_NonConsolidatedMember	0.266
Rate of return on equity (5-year summary)	Prior3YearDuration_NonConsolidatedMember	0.252
Rate of return on equity (5-year summary)	Prior2YearDuration_NonConsolidatedMember	0.249
Rate of return on equity (5-year summary)	Prior1YearDuration_NonConsolidatedMember	0.212
Rate of return on equity (5-year summary)	CurrentYearDuration_NonConsolidatedMember	0.185
Price earnings ratio (5-year summary)	Prior4YearDuration_NonConsolidatedMember	38.01
Price earnings ratio (5-year summary)	Prior3YearDuration_NonConsolidatedMember	28.34
Price earnings ratio (5-year summary)	Prior2YearDuration_NonConsolidatedMember	28.56
Price earnings ratio (5-year summary)	Prior1YearDuration_NonConsolidatedMember	18.95
Price earnings ratio (5-year summary)	CurrentYearDuration_NonConsolidatedMember	18.57
Payout ratio (5-year summary)	Prior4YearDuration_NonConsolidatedMember	0.308
Payout ratio (5-year summary)	Prior3YearDuration_NonConsolidatedMember	0.332
Payout ratio (5-year summary)	Prior2YearDuration_NonConsolidatedMember	0.333
Payout ratio (5-year summary)	Prior1YearDuration_NonConsolidatedMember	0.334
Payout ratio (5-year summary)	CurrentYearDuration_NonConsolidatedMember	0.385

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
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