Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-27
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed

Amended by S100Z20X (2026-09-14).

Key figures · 148
MetricValuePeriodScopeSource row
Revenue¥12.7bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥12.1bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥11.1bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥11.2bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Revenue¥9.5bn2021-01-01 → 2021-12-31vCons.Net sales (5-year summary)
Operating income¥1.2bn2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥1.1bn2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥1.4bn2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥1.2bn2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income¥1.1bn2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥1.2bn2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥583m2021-01-01 → 2021-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥1.4bn2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥750m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥969m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥397m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥909m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥949m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥433m2021-01-01 → 2021-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥969m2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥397m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥22.3bnat 2025-12-31Cons.Assets
Total assets¥21.6bnat 2024-12-31Cons.Assets
Total assets¥21.1bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥19.8bnat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥18.3bnat 2021-12-31vCons.Total assets (5-year summary)
Total liabilities¥5.2bnat 2025-12-31Cons.Liabilities
Total liabilities¥5.6bnat 2024-12-31Cons.Liabilities
Net assets / equity¥17.1bnat 2025-12-31Cons.Net assets
Net assets / equity¥16.1bnat 2024-12-31Cons.Net assets
Net assets / equity¥15.6bnat 2023-12-31vCons.Net assets
Net assets / equity¥14.3bnat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥13.7bnat 2021-12-31vCons.Net assets (5-year summary)
Cash and deposits¥4.2bnat 2025-12-31Cons.Cash and deposits
Cash and deposits¥4.3bnat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥4.3bnat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥4.4bnat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥4.6bnat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥4.5bnat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥3.9bnat 2021-12-31vCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥652m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥536m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥324m2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥1.1bn2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥412m2021-01-01 → 2021-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥438m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥443m2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥10m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥322m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥193m2021-01-01 → 2021-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥286m2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥310m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥238m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥207m2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥208m2021-01-01 → 2021-12-31vCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥144.642025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥59.232024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥136.042023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥142.262022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥64.962021-01-01 → 2021-12-31vCons.Basic earnings loss per share (5-year summary)
Net assets per share¥2,551.06at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥2,395.16at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥2,337.24at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥2,141.54at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥2,050.23at 2021-12-31vCons.Net assets per share (5-year summary)
Equity ratio76.7%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio74.2%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio74.1%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio72.2%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio74.7%at 2021-12-31vCons.Equity to asset ratio (5-year summary)
ROE5.8%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE2.5%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
ROE6.1%2023-01-01 → 2023-12-31vCons.Rate of return on equity (5-year summary)
ROE6.8%2022-01-01 → 2022-12-31vCons.Rate of return on equity (5-year summary)
ROE3.2%2021-01-01 → 2021-12-31vCons.Rate of return on equity (5-year summary)
Employees297at 2025-12-31Cons.Number of employees
Employees288at 2024-12-31Cons.Number of employees
Employees276at 2023-12-31vCons.Number of employees
Employees263at 2022-12-31vCons.Number of employees
Employees250at 2021-12-31vCons.Number of employees
Revenue¥12.3bn2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥11.7bn2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥11.0bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥10.5bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥9.1bn2021-01-01 → 2021-12-31vStandaloneNet sales (5-year summary)
Operating income¥1.2bn2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥1.0bn2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥1.3bn2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥1.1bn2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥1.1bn2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥956m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥467m2021-01-01 → 2021-12-31vStandaloneOrdinary income loss (5-year summary)
Profit before tax¥1.3bn2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥686m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income¥920m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥330m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥854m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥662m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥317m2021-01-01 → 2021-12-31vStandaloneNet income loss (5-year summary)
Total assets¥21.6bnat 2025-12-31StandaloneAssets
Total assets¥21.0bnat 2024-12-31StandaloneAssets
Total assets¥20.5bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥19.2bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥18.1bnat 2021-12-31vStandaloneTotal assets (5-year summary)
Total liabilities¥5.1bnat 2025-12-31StandaloneLiabilities
Total liabilities¥5.5bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥16.5bnat 2025-12-31StandaloneNet assets
Net assets / equity¥15.5bnat 2024-12-31StandaloneNet assets
Net assets / equity¥15.1bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥13.9bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥13.6bnat 2021-12-31vStandaloneNet assets (5-year summary)
Cash and deposits¥4.1bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥4.2bnat 2024-12-31StandaloneCash and deposits
EPS (basic)¥137.222025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥49.242024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥127.732023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥99.172022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥47.582021-01-01 → 2021-12-31vStandaloneBasic earnings loss per share (5-year summary)
Dividend per share¥402025-01-01 → 2025-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥352024-01-01 → 2024-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥352023-01-01 → 2023-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥302022-01-01 → 2022-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥252021-01-01 → 2021-12-31vStandaloneDividend paid per share (5-year summary)
Net assets per share¥2,460.19at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥2,313.4at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥2,262.96at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥2,079.34at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥2,034.32at 2021-12-31vStandaloneNet assets per share (5-year summary)
Equity ratio76.3%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio73.7%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio73.8%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio72.1%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio75.0%at 2021-12-31vStandaloneEquity to asset ratio (5-year summary)
ROE5.7%2025-01-01 → 2025-12-31StandaloneRate of return on equity (5-year summary)
ROE2.2%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE5.9%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE4.8%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE2.4%2021-01-01 → 2021-12-31vStandaloneRate of return on equity (5-year summary)
Shares issued7,424,140at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued7,424,140at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued7,424,140at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued7,424,140at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued7,424,140at 2021-12-31vStandaloneTotal number of issued shares (5-year summary)
Employees271at 2025-12-31StandaloneNumber of employees
Employees262at 2024-12-31StandaloneNumber of employees
Employees249at 2023-12-31vStandaloneNumber of employees
Employees237at 2022-12-31vStandaloneNumber of employees
Employees228at 2021-12-31vStandaloneNumber 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.

Segments · 38
SegmentItemPeriodValue
Reconciling Itemsreconcilingsegment assetsat 2025-12-31¥513m
Real Estate Rent Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥111m
Real Estate Rent Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥577m
Real Estate Rent Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥577m
Real Estate Rent Businessreportable segmentsegment assetsat 2025-12-31¥1.6bn
Real Estate Rent Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥384m
Valve Businessreportable segmentcapex2025-01-01 → 2025-12-31¥661m
Valve Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥484m
Valve Businessreportable segmentemployeesat 2025-12-31287 pure
Valve Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥12.1bn
Valve Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥12.1bn
Valve Businessreportable segmentsegment assetsat 2025-12-31¥20.1bn
Valve Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥839m
—segment totalcapex2025-01-01 → 2025-12-31¥661m
—segment totaldepreciation2025-01-01 → 2025-12-31¥595m
—segment totalrevenue2025-01-01 → 2025-12-31¥12.7bn
—segment totalrevenue external2025-01-01 → 2025-12-31¥12.7bn
—segment totalsegment assetsat 2025-12-31¥21.8bn
—segment totalsegment profit2025-01-01 → 2025-12-31¥1.2bn
Reconciling Itemsreconcilingsegment assetsat 2024-12-31¥506m
Real Estate Rent Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥119m
Real Estate Rent Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥578m
Real Estate Rent Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥578m
Real Estate Rent Businessreportable segmentsegment assetsat 2024-12-31¥1.8bn
Real Estate Rent Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥384m
Valve Businessreportable segmentcapex2024-01-01 → 2024-12-31¥474m
Valve Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥446m
Valve Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥11.5bn
Valve Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥11.5bn
Valve Businessreportable segmentsegment assetsat 2024-12-31¥19.4bn
Valve Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥734m
—segment totalcapex2024-01-01 → 2024-12-31¥474m
—segment totaldepreciation2024-01-01 → 2024-12-31¥565m
—segment totalrevenue2024-01-01 → 2024-12-31¥12.1bn
—segment totalrevenue external2024-01-01 → 2024-12-31¥12.1bn
—segment totalsegment assetsat 2024-12-31¥21.1bn
—segment totalsegment profit2024-01-01 → 2024-12-31¥1.1bn
Valve Businessreportable segmentemployeesat 2025-12-31261 pure

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,613
ItemContextValueUnit
Number of shareholders financial service providersCurrentYearInstant_OrdinaryShareMember14
Number of shareholders other corporationsCurrentYearInstant_OrdinaryShareMember53
Number of shareholders foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember22
Number of shareholders foreign individual investorsCurrentYearInstant_OrdinaryShareMember3
Number of shareholders individuals and othersCurrentYearInstant_OrdinaryShareMember1479
Number of shareholders totalCurrentYearInstant_OrdinaryShareMember1577
Number of shares held number of units national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Number of shares held number of units financial institutionsCurrentYearInstant_OrdinaryShareMember7606
Number of shares held number of units financial service providersCurrentYearInstant_OrdinaryShareMember746
Number of shares held number of units other corporationsCurrentYearInstant_OrdinaryShareMember16195
Number of shares held number of units foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember1367
Number of shares held number of units foreign individual investorsCurrentYearInstant_OrdinaryShareMember3
Number of shares held number of units individuals and othersCurrentYearInstant_OrdinaryShareMember48257
Number of shares held number of units totalCurrentYearInstant_OrdinaryShareMember74174
Number of shares held shares less than one unitCurrentYearInstant_OrdinaryShareMember6740
Percentage of shareholdings national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Percentage of shareholdings financial institutionsCurrentYearInstant_OrdinaryShareMember0.1025
Percentage of shareholdings financial service providersCurrentYearInstant_OrdinaryShareMember0.0101
Percentage of shareholdings other corporationsCurrentYearInstant_OrdinaryShareMember0.2183
Percentage of shareholdings foreigners other than individualsCurrentYearInstant_OrdinaryShareMember0.0185
Percentage of shareholdings foreign individualsCurrentYearInstant_OrdinaryShareMember0.00
Percentage of shareholdings individuals and othersCurrentYearInstant_OrdinaryShareMember0.6506
Number of shares heldCurrentYearInstant_No1MajorShareholdersMember1098000
Shareholding ratioCurrentYearInstant_No1MajorShareholdersMember0.1639
Number of shares heldCurrentYearInstant_No2MajorShareholdersMember546000
Shareholding ratioCurrentYearInstant_No2MajorShareholdersMember0.0815
Number of shares heldCurrentYearInstant_No3MajorShareholdersMember356000
Shareholding ratioCurrentYearInstant_No3MajorShareholdersMember0.0532
Number of shares heldCurrentYearInstant_No4MajorShareholdersMember336000
Shareholding ratioCurrentYearInstant_No4MajorShareholdersMember0.0502
Number of shares heldCurrentYearInstant_No5MajorShareholdersMember315000
Shareholding ratioCurrentYearInstant_No5MajorShareholdersMember0.0470
Number of shares heldCurrentYearInstant_No6MajorShareholdersMember222000
Shareholding ratioCurrentYearInstant_No6MajorShareholdersMember0.0331
Number of shares heldCurrentYearInstant_No7MajorShareholdersMember186000
Shareholding ratioCurrentYearInstant_No7MajorShareholdersMember0.0278
Number of shares heldCurrentYearInstant_No8MajorShareholdersMember176000
Shareholding ratioCurrentYearInstant_No8MajorShareholdersMember0.0263
Number of shares heldCurrentYearInstant_No9MajorShareholdersMember175000
Shareholding ratioCurrentYearInstant_No9MajorShareholdersMember0.0262
Number of shares heldCurrentYearInstant_No10MajorShareholdersMember150000
Shareholding ratioCurrentYearInstant_No10MajorShareholdersMember0.0223
Number of shares heldCurrentYearInstant3565000
Shareholding ratioCurrentYearInstant0.5320
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithNoVotingRightsMember-
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsTreasurySharesEtcMember-
Number of shares issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsOtherMember-
Number of voting rights issued shares voting rightsCurrentYearInstant_SharesWithRestrictedVotingRightsOtherMember-
Number of shares issued shares voting rightsCurrentYearInstant_OrdinarySharesTreasurySharesSharesWithFullVotingRightsTreasurySharesEtcMember722200
Number of shares issued shares voting rightsCurrentYearInstant_OrdinarySharesReciprocalHoldingSharesWithFullVotingRightsTreasurySharesEtcMember7000

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 identityconsolidated 2024-12-31pass
balance sheet identityconsolidated 2025-12-31pass
balance sheet identitynon_consolidated 2024-12-31pass
balance sheet identitynon_consolidated 2025-12-31pass rounding
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-12-31pass
statement vs summary · net assetsconsolidated 2024-12-31pass
statement vs summary · net assetsconsolidated 2025-12-31pass
statement vs summary · net assetsnon_consolidated 2023-12-31pass
statement vs summary · net assetsnon_consolidated 2024-12-31pass
statement vs summary · net assetsnon_consolidated 2025-12-31pass
statement vs summary · net income attributable to parentconsolidated 2024-01-01/2024-12-31pass
statement vs summary · net income attributable to parentconsolidated 2025-01-01/2025-12-31pass
statement vs summary · operating cash flowconsolidated 2024-01-01/2024-12-31pass
statement vs summary · operating cash flowconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenueconsolidated 2024-01-01/2024-12-31pass
statement vs summary · revenueconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenuenon_consolidated 2024-01-01/2024-12-31pass
statement vs summary · revenuenon_consolidated 2025-01-01/2025-12-31pass
statement vs summary · total assetsconsolidated 2024-12-31pass
statement vs summary · total assetsconsolidated 2025-12-31pass
statement vs summary · total assetsnon_consolidated 2024-12-31pass
statement vs summary · total assetsnon_consolidated 2025-12-31pass