Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-26

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 154

Metric	Value	Period	Scope	Source row
Revenue	¥7.2bn	2025-01-01 → 2025-12-31	Cons.	Operating revenue1
Revenue	¥5.6bn	2024-01-01 → 2024-12-31	Cons.	Operating revenue1
Revenue	¥5.8bn	2023-01-01 → 2023-12-31^v	Cons.	Operating revenue1 (5-year summary)
Revenue	¥4.6bn	2022-01-01 → 2022-12-31^v	Cons.	Operating revenue1 (5-year summary)
Revenue	¥4.2bn	2021-01-01 → 2021-12-31^d	Cons.	Operating revenue1 (5-year summary)
Operating income	¥2.5bn	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥975m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥2.6bn	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥1.5bn	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥2.2bn	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥1.8bn	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥2.6bn	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥1.2bn	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥1.7bn	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥506m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥1.1bn	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥1.6bn	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥1.3bn	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥1.8bn	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥605m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥23.5bn	at 2025-12-31	Cons.	Assets
Total assets	¥21.1bn	at 2024-12-31	Cons.	Assets
Total assets	¥19.7bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥20.0bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥18.0bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥4.3bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥2.2bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥19.2bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥18.9bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥18.2bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥17.5bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥15.8bn	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥5.2bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥3.4bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥5.2bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥3.4bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥3.0bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥2.9bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥4.6bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥2.4bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥656m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥1.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥349m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥179m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥588m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥10m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥498m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥583m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	¥228m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	¥185m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥416m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥1.7bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥797m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥1.3bn	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥87.07	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥26.15	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥53.99	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥76.48	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥77.12	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥26.12	2024-01-01 → 2024-12-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥53.85	2023-01-01 → 2023-12-31^v	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥76.3	2022-01-01 → 2022-12-31^v	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥76.74	2021-01-01 → 2021-12-31^d	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥929.52	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥904.87	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥883.56	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥829.16	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥733.92	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	76.6%	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	87.0%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	83.2%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	83.9%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	9.5%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	2.9%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	6.3%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	9.8%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	9.7%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	119	at 2025-12-31	Cons.	Number of employees
Employees	119	at 2024-12-31	Cons.	Number of employees
Employees	115	at 2023-12-31^v	Cons.	Number of employees
Employees	98	at 2022-12-31^v	Cons.	Number of employees
Employees	78	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥3.3bn	2025-01-01 → 2025-12-31	Standalone	Operating revenue1
Revenue	¥1.0bn	2024-01-01 → 2024-12-31	Standalone	Operating revenue1
Revenue	¥3.0bn	2023-01-01 → 2023-12-31^v	Standalone	Operating revenue1 (5-year summary)
Revenue	¥1.5bn	2022-01-01 → 2022-12-31^v	Standalone	Operating revenue1 (5-year summary)
Revenue	¥834m	2021-01-01 → 2021-12-31^d	Standalone	Operating revenue1 (5-year summary)
Operating income	¥2.5bn	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥13m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥2.5bn	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥13m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥779m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥1.0bn	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥485m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥2.5bn	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥13m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	¥1.9bn	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	−¥145m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	¥634m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥719m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥655m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥17.4bn	at 2025-12-31	Standalone	Assets
Total assets	¥15.4bn	at 2024-12-31	Standalone	Assets
Total assets	¥15.7bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥16.6bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥16.0bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥1.9bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥818m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥15.5bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥14.6bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥15.2bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥15.0bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥14.8bn	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥1.3bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥381m	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥99.13	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-7.49	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥32.47	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥35.18	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥38.44	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥32.38	2023-01-01 → 2023-12-31^v	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥35.1	2022-01-01 → 2022-12-31^v	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥38.25	2021-01-01 → 2021-12-31^d	Standalone	Diluted earnings per share (5-year summary)
Dividend per share	¥22	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥22	2024-01-01 → 2024-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥21	2023-01-01 → 2023-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥20	2022-01-01 → 2022-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥20	2021-01-01 → 2021-12-31^d	Standalone	Dividend paid per share (5-year summary)
Net assets per share	¥799.81	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥755.42	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥783.74	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥748.67	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥709.27	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	88.8%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	94.7%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	96.8%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	90.4%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	92.6%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	12.7%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	4.2%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	4.8%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	4.7%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	21,549,900	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	21,549,900	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	21,500,100	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	21,482,700	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	21,443,100	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	27	at 2025-12-31	Standalone	Number of employees
Employees	23	at 2024-12-31	Standalone	Number of employees
Employees	22	at 2023-12-31^v	Standalone	Number of employees
Employees	18	at 2022-12-31^v	Standalone	Number of employees
Employees	17	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 · 1,330

Item	Context	Value	Unit
Net assets	CurrentYearInstant_ValuationAndTranslationAdjustmentsMember	400310000	JPY
Net assets	CurrentYearInstant_SubscriptionRightsToSharesMember	－	JPY
Net assets	CurrentYearInstant_NonControllingInterestsMember	1220929000	JPY
Net assets	CurrentYearInstant	19205344000	JPY
Income before income taxes	Prior1YearDuration	1156703000	JPY
Income before income taxes	CurrentYearDuration	2554099000	JPY
Depreciation and amortization ope cf	Prior1YearDuration	80211000	JPY
Depreciation and amortization ope cf	CurrentYearDuration	78366000	JPY
Gain on reversal of subscription rights to shares ope cf	Prior1YearDuration	－	JPY
Gain on reversal of subscription rights to shares ope cf	CurrentYearDuration	-29000	JPY
Increase decrease in provision for bonuses ope cf	Prior1YearDuration	-8676000	JPY
Increase decrease in provision for bonuses ope cf	CurrentYearDuration	－	JPY
Increase decrease in provision for directors bonuses ope cf	Prior1YearDuration	－	JPY
Increase decrease in provision for directors bonuses ope cf	CurrentYearDuration	334510000	JPY
Increase decrease in provision for directors retirement benefits ope cf	Prior1YearDuration	－	JPY
Increase decrease in provision for directors retirement benefits ope cf	CurrentYearDuration	-3000000	JPY
Increase decrease in provision for directors bonuses stock ope cf	Prior1YearDuration	17500000	JPY
Increase decrease in provision for directors bonuses stock ope cf	CurrentYearDuration	17500000	JPY
Increase decrease in provision for employee s bonuses stock ope cf	Prior1YearDuration	7500000	JPY
Increase decrease in provision for employee s bonuses stock ope cf	CurrentYearDuration	7500000	JPY
Increase decrease in net defined benefit liability ope cf	Prior1YearDuration	40462000	JPY
Increase decrease in net defined benefit liability ope cf	CurrentYearDuration	31836000	JPY
Interest and dividends income ope cf	Prior1YearDuration	-35048000	JPY
Interest and dividends income ope cf	CurrentYearDuration	-26262000	JPY
Interest expenses ope cf	Prior1YearDuration	4827000	JPY
Interest expenses ope cf	CurrentYearDuration	9253000	JPY
Foreign exchange losses gains ope cf	Prior1YearDuration	-13459000	JPY
Foreign exchange losses gains ope cf	CurrentYearDuration	-1564000	JPY
Equity in earnings losses of affiliates ope cf	Prior1YearDuration	-24809000	JPY
Equity in earnings losses of affiliates ope cf	CurrentYearDuration	-23848000	JPY
Decrease increase in notes and accounts receivable trade ope cf	Prior1YearDuration	26014000	JPY
Decrease increase in notes and accounts receivable trade ope cf	CurrentYearDuration	154317000	JPY
Decrease increase in investment securities for sale ope cf	Prior1YearDuration	-966235000	JPY
Decrease increase in investment securities for sale ope cf	CurrentYearDuration	-560988000	JPY
Decrease increase in operating loans receivable ope cf	Prior1YearDuration	-177536000	JPY
Decrease increase in operating loans receivable ope cf	CurrentYearDuration	44155000	JPY
Decrease increase in other current assets ope cf	Prior1YearDuration	229812000	JPY
Decrease increase in other current assets ope cf	CurrentYearDuration	-19714000	JPY
Increase decrease in other current liabilities ope cf	Prior1YearDuration	380595000	JPY
Increase decrease in other current liabilities ope cf	CurrentYearDuration	266514000	JPY
Increase decrease in other noncurrent liabilities ope cf	Prior1YearDuration	-68648000	JPY
Increase decrease in other noncurrent liabilities ope cf	CurrentYearDuration	11153000	JPY
Subtotal ope cf	Prior1YearDuration	649213000	JPY
Subtotal ope cf	CurrentYearDuration	2873798000	JPY
Interest and dividends income received ope cf inv cf	Prior1YearDuration	34806000	JPY
Interest and dividends income received ope cf inv cf	CurrentYearDuration	21607000	JPY
Interest expenses paid ope cf fin cf	Prior1YearDuration	-4827000	JPY
Interest expenses paid ope cf fin cf	CurrentYearDuration	-9672000	JPY
Income taxes paid ope cf	Prior1YearDuration	-23638000	JPY
Income taxes paid ope cf	CurrentYearDuration	-502791000	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 rounding
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