Annual report

Period2025-01-01 → 2025-12-31
Filed2026-09-14
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed

Amends S100XUXN. Amended by S100Z25U (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¥1.1bn2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥1.2bn2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥1.2bn2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥1.3bn2024-01-01 → 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¥497m2021-01-01 → 2021-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥1.2bn2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥871m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥831m2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥514m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥837m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥886m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥353m2021-01-01 → 2021-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥831m2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥514m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥21.6bnat 2025-12-31Cons.Assets
Total assets¥21.1bnat 2024-12-31Cons.Assets
Total assets¥20.5bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥19.2bnat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥17.8bnat 2021-12-31vCons.Total assets (5-year summary)
Total liabilities¥5.1bnat 2025-12-31Cons.Liabilities
Total liabilities¥5.5bnat 2024-12-31Cons.Liabilities
Net assets / equity¥16.5bnat 2025-12-31Cons.Net assets
Net assets / equity¥15.6bnat 2024-12-31Cons.Net assets
Net assets / equity¥15.0bnat 2023-12-31vCons.Net assets
Net assets / equity¥13.8bnat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥13.2bnat 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)¥123.942025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥76.72024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥125.22023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥132.772022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥52.922021-01-01 → 2021-12-31vCons.Basic earnings loss per share (5-year summary)
Net assets per share¥2,460.98at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥2,323.4at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥2,247.11at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥2,061.76at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥1,979.11at 2021-12-31vCons.Net assets per share (5-year summary)
Equity ratio76.2%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio73.8%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio73.5%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio71.5%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio74.1%at 2021-12-31vCons.Equity to asset ratio (5-year summary)
ROE5.2%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE3.4%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
ROE5.8%2023-01-01 → 2023-12-31vCons.Rate of return on equity (5-year summary)
ROE6.6%2022-01-01 → 2022-12-31vCons.Rate of return on equity (5-year summary)
ROE2.7%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¥1.1bn2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥1.2bn2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥1.2bn2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥1.3bn2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥1.1bn2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥894m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥382m2021-01-01 → 2021-12-31vStandaloneOrdinary income loss (5-year summary)
Profit before tax¥1.2bn2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥807m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income¥786m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥447m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥781m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥598m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥237m2021-01-01 → 2021-12-31vStandaloneNet income loss (5-year summary)
Total assets¥20.9bnat 2025-12-31StandaloneAssets
Total assets¥20.5bnat 2024-12-31StandaloneAssets
Total assets¥19.9bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥18.7bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥17.6bnat 2021-12-31vStandaloneTotal assets (5-year summary)
Total liabilities¥5.1bnat 2025-12-31StandaloneLiabilities
Total liabilities¥5.5bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥15.9bnat 2025-12-31StandaloneNet assets
Net assets / equity¥15.0bnat 2024-12-31StandaloneNet assets
Net assets / equity¥14.5bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥13.3bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥13.1bnat 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)¥117.312025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥66.722024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥116.892023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥89.682022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥35.532021-01-01 → 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¥2,370.89at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥2,241.64at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥2,172.82at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥1,999.55at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥1,963.2at 2021-12-31vStandaloneNet assets per share (5-year summary)
Equity ratio75.9%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio73.3%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio73.1%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio71.4%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio74.3%at 2021-12-31vStandaloneEquity to asset ratio (5-year summary)
ROE5.1%2025-01-01 → 2025-12-31StandaloneRate of return on equity (5-year summary)
ROE3.0%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE5.6%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE4.5%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE1.8%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¥468m
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¥490m
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¥19.5bn
Valve Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥715m
—segment totalcapex2025-01-01 → 2025-12-31¥661m
—segment totaldepreciation2025-01-01 → 2025-12-31¥601m
—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¥21.2bn
—segment totalsegment profit2025-01-01 → 2025-12-31¥1.1bn
Reconciling Itemsreconcilingsegment assetsat 2024-12-31¥465m
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¥452m
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¥18.9bn
Valve Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥859m
—segment totalcapex2024-01-01 → 2024-12-31¥474m
—segment totaldepreciation2024-01-01 → 2024-12-31¥571m
—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¥20.6bn
—segment totalsegment profit2024-01-01 → 2024-12-31¥1.2bn
Valve Businessreportable segmentemployeesat 2025-12-31261 pure

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

All source rows · 1,618
ItemContextValueUnit
Net assets per share (5-year summary)Prior2YearInstant_NonConsolidatedMember2172.82
Net assets per share (5-year summary)Prior1YearInstant_NonConsolidatedMember2241.64
Net assets per share (5-year summary)CurrentYearInstant_NonConsolidatedMember2370.89
Dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember25.00
Dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember30.00
Dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember35.00
Dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember35.00
Dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember40.00
Interim dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember10.00
Interim dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember10.00
Interim dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember10.00
Interim dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember15.00
Interim dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember15.00
Basic earnings loss per share (5-year summary)Prior4YearDuration_NonConsolidatedMember35.53
Basic earnings loss per share (5-year summary)Prior3YearDuration_NonConsolidatedMember89.68
Basic earnings loss per share (5-year summary)Prior2YearDuration_NonConsolidatedMember116.89
Basic earnings loss per share (5-year summary)Prior1YearDuration_NonConsolidatedMember66.72
Basic earnings loss per share (5-year summary)CurrentYearDuration_NonConsolidatedMember117.31
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_NonConsolidatedMember0.743
Equity to asset ratio (5-year summary)Prior3YearInstant_NonConsolidatedMember0.714
Equity to asset ratio (5-year summary)Prior2YearInstant_NonConsolidatedMember0.731
Equity to asset ratio (5-year summary)Prior1YearInstant_NonConsolidatedMember0.733
Equity to asset ratio (5-year summary)CurrentYearInstant_NonConsolidatedMember0.759
Rate of return on equity (5-year summary)Prior4YearDuration_NonConsolidatedMember0.018
Rate of return on equity (5-year summary)Prior3YearDuration_NonConsolidatedMember0.045
Rate of return on equity (5-year summary)Prior2YearDuration_NonConsolidatedMember0.056
Rate of return on equity (5-year summary)Prior1YearDuration_NonConsolidatedMember0.030
Rate of return on equity (5-year summary)CurrentYearDuration_NonConsolidatedMember0.051
Price earnings ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember25.1
Price earnings ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember11.1
Price earnings ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember8.3
Price earnings ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember16.1
Price earnings ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember10.3
Payout ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember0.704
Payout ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember0.335
Payout ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember0.299
Payout ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember0.525
Payout ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember0.341
Number of employeesPrior4YearInstant_NonConsolidatedMember228
Number of employeesPrior3YearInstant_NonConsolidatedMember237
Number of employeesPrior2YearInstant_NonConsolidatedMember249
Number of employeesPrior1YearInstant_NonConsolidatedMember262
Number of employeesCurrentYearInstant_NonConsolidatedMember271
Average number of temporary workersPrior4YearInstant_NonConsolidatedMember84
Average number of temporary workersPrior3YearInstant_NonConsolidatedMember84

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 rounding
balance sheet identityconsolidated 2025-12-31pass rounding
balance sheet identitynon_consolidated 2024-12-31pass rounding
balance sheet identitynon_consolidated 2025-12-31pass
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