Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-30
StandardIFRS
ConsolidatedYes
Data checks21 of 22 passed
Key figures · 162
MetricValuePeriodScopeSource row
Revenue¥11.9bn2025-01-01 → 2025-12-31Cons.Revenue IFRS
Revenue¥5.1bn2024-01-01 → 2024-12-31Cons.Revenue IFRS
Revenue¥2.5bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥1.1bn2022-01-01 → 2022-12-31vCons.Revenue IFRS (5-year summary)
Operating income¥2.3bn2025-01-01 → 2025-12-31Cons.Operating profit loss IFRS
Operating income¥1.3bn2024-01-01 → 2024-12-31Cons.Operating profit loss IFRS
Ordinary income¥373m2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥2.1bn2025-01-01 → 2025-12-31Cons.Profit loss before tax IFRS
Profit before tax¥1.2bn2024-01-01 → 2024-12-31Cons.Profit loss before tax IFRS
Profit before tax¥605m2023-01-01 → 2023-12-31vCons.Profit loss before tax IFRS (5-year summary)
Profit before tax¥124m2022-01-01 → 2022-12-31vCons.Profit loss before tax IFRS (5-year summary)
Net income (owners)¥1.5bn2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent IFRS
Net income (owners)¥838m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent IFRS
Net income (owners)¥240m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥480m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent IFRS (5-year summary)
Net income (owners)¥69m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent IFRS (5-year summary)
Net income¥1.5bn2025-01-01 → 2025-12-31Cons.Profit loss IFRS
Net income¥866m2024-01-01 → 2024-12-31Cons.Profit loss IFRS
Net income¥479m2023-01-01 → 2023-12-31vCons.Profit loss IFRS (5-year summary)
Net income¥69m2022-01-01 → 2022-12-31vCons.Profit loss IFRS (5-year summary)
Total assets¥26.5bnat 2025-12-31Cons.Assets IFRS
Total assets¥21.7bnat 2024-12-31Cons.Assets IFRS
Total assets¥9.4bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥11.0bnat 2023-12-31vCons.Total assets IFRS (5-year summary)
Total assets¥3.2bnat 2022-12-31vCons.Total assets IFRS (5-year summary)
Total assets¥996mat 2021-12-31dCons.Total assets IFRS (5-year summary)
Total liabilities¥19.7bnat 2025-12-31Cons.Liabilities IFRS
Total liabilities¥15.6bnat 2024-12-31Cons.Liabilities IFRS
Net assets / equity¥6.7bnat 2025-12-31Cons.Equity IFRS
Net assets / equity¥6.0bnat 2024-12-31Cons.Equity IFRS
Net assets / equity¥3.3bnat 2023-12-31vCons.Equity IFRS
Net assets / equity¥3.1bnat 2023-12-31vCons.Net assets (5-year summary)
Equity (owners)¥7.5bnat 2025-12-31Cons.Equity attributable to owners of parent IFRS
Equity (owners)¥6.7bnat 2024-12-31Cons.Equity attributable to owners of parent IFRS
Equity (owners)¥3.2bnat 2023-12-31vCons.Equity attributable to owners of parent IFRS (5-year summary)
Equity (owners)¥690mat 2022-12-31vCons.Equity attributable to owners of parent IFRS (5-year summary)
Equity (owners)¥477mat 2021-12-31dCons.Equity attributable to owners of parent IFRS (5-year summary)
Cash & equivalents¥8.1bnat 2025-12-31Cons.Cash and cash equivalents IFRS
Cash & equivalents¥6.2bnat 2024-12-31Cons.Cash and cash equivalents IFRS
Cash & equivalents¥4.0bnat 2023-12-31vCons.Cash and cash equivalents IFRS
Cash & equivalents¥978mat 2022-12-31vCons.Cash and cash equivalents IFRS (5-year summary)
Cash & equivalents¥602mat 2021-12-31dCons.Cash and cash equivalents IFRS (5-year summary)
Operating cash flow¥1.2bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities IFRS
Operating cash flow¥916m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities IFRS
Operating cash flow¥848m2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥878m2023-01-01 → 2023-12-31vCons.Cash flows from used in operating activities IFRS (5-year summary)
Operating cash flow¥121m2022-01-01 → 2022-12-31vCons.Cash flows from used in operating activities IFRS (5-year summary)
Investing cash flow−¥3.5bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in investing activities IFRS
Investing cash flow−¥3.1bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in investing activities IFRS
Investing cash flow−¥3.3bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥3.4bn2023-01-01 → 2023-12-31vCons.Cash flows from used in investing activities IFRS (5-year summary)
Investing cash flow−¥1.4bn2022-01-01 → 2022-12-31vCons.Cash flows from used in investing activities IFRS (5-year summary)
Financing cash flow¥4.1bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities IFRS
Financing cash flow¥4.4bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities IFRS
Financing cash flow¥5.6bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥5.6bn2023-01-01 → 2023-12-31vCons.Cash flows from used in financing activities IFRS (5-year summary)
Financing cash flow¥1.7bn2022-01-01 → 2022-12-31vCons.Cash flows from used in financing activities IFRS (5-year summary)
EPS (basic)¥118.472025-01-01 → 2025-12-31Cons.Basic earnings loss per share IFRS
EPS (basic)¥72.112024-01-01 → 2024-12-31Cons.Basic earnings loss per share IFRS
EPS (basic)¥47.392023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥46.472023-01-01 → 2023-12-31vCons.Basic earnings loss per share IFRS (5-year summary)
EPS (basic)¥8.372022-01-01 → 2022-12-31vCons.Basic earnings loss per share IFRS (5-year summary)
EPS (diluted)¥112.492025-01-01 → 2025-12-31Cons.Diluted earnings loss per share IFRS
EPS (diluted)¥67.272024-01-01 → 2024-12-31Cons.Diluted earnings loss per share IFRS
EPS (diluted)¥45.292023-01-01 → 2023-12-31vCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥44.442023-01-01 → 2023-12-31vCons.Diluted earnings loss per share IFRS (5-year summary)
EPS (diluted)¥7.762022-01-01 → 2022-12-31vCons.Diluted earnings loss per share IFRS (5-year summary)
Net assets per share¥617.86at 2025-12-31Cons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥543.26at 2024-12-31Cons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥568.64at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥302.21at 2023-12-31vCons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥83.17at 2022-12-31vCons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥58.23at 2021-12-31dCons.Equity to asset ratio IFRS (5-year summary)
Equity ratio28.5%at 2025-12-31Cons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio30.7%at 2024-12-31Cons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio31.9%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio29.0%at 2023-12-31vCons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio21.3%at 2022-12-31vCons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio47.9%at 2021-12-31dCons.Ratio of owners equity to gross assets IFRS (5-year summary)
ROE20.4%2025-01-01 → 2025-12-31Cons.Rate of return on equity IFRS (5-year summary)
ROE17.0%2024-01-01 → 2024-12-31Cons.Rate of return on equity IFRS (5-year summary)
ROE24.8%2023-01-01 → 2023-12-31vCons.Rate of return on equity IFRS (5-year summary)
ROE11.9%2022-01-01 → 2022-12-31vCons.Rate of return on equity IFRS (5-year summary)
Employees489at 2025-12-31Cons.Number of employees
Employees149at 2024-12-31Cons.Number of employees
Employees153at 2023-12-31vCons.Number of employees
Employees39at 2022-12-31vCons.Number of employees
Employees26at 2021-12-31dCons.Number of employees
Revenue¥1.3bn2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥2.0bn2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥1.5bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥1.1bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥661m2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income−¥203m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥131m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥513m2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥500m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥320m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥216m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥149m2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥35m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥463m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income−¥264m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥246m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥247m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥188m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥152m2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥18.2bnat 2025-12-31StandaloneAssets
Total assets¥13.8bnat 2024-12-31StandaloneAssets
Total assets¥8.8bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥2.9bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥843mat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥13.0bnat 2025-12-31StandaloneLiabilities
Total liabilities¥8.1bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥5.2bnat 2025-12-31StandaloneNet assets
Net assets / equity¥5.8bnat 2024-12-31StandaloneNet assets
Net assets / equity¥3.0bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥724mat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥492mat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥5.2bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥4.3bnat 2024-12-31StandaloneCash and deposits
Cash & equivalents¥978mat 2022-12-31vStandaloneCash and cash equivalents (5-year summary)
Cash & equivalents¥602mat 2021-12-31dStandaloneCash and cash equivalents (5-year summary)
Operating cash flow¥58m2022-01-01 → 2022-12-31vStandaloneNet cash provided by used in operating activities (5-year summary)
Operating cash flow¥103m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in operating activities (5-year summary)
Investing cash flow−¥1.4bn2022-01-01 → 2022-12-31vStandaloneNet cash provided by used in investing activities (5-year summary)
Investing cash flow−¥16m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in investing activities (5-year summary)
Financing cash flow¥1.8bn2022-01-01 → 2022-12-31vStandaloneNet cash provided by used in financing activities (5-year summary)
Financing cash flow¥189m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in financing activities (5-year summary)
EPS (basic)¥-21.62025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥21.172024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥23.972023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥22.72022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥19.642021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥19.542024-01-01 → 2024-12-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥22.922023-01-01 → 2023-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥21.032022-01-01 → 2022-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥17.992021-01-01 → 2021-12-31dStandaloneDiluted earnings per share (5-year summary)
Net assets per share¥425.6at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥469.59at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥284.59at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥87.28at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥60.01at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio28.5%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio41.7%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio33.9%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio25.3%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio58.3%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
ROE5.6%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE13.3%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE30.9%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE55.5%2021-01-01 → 2021-12-31dStandaloneRate of return on equity (5-year summary)
Shares issued12,409,400at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued12,260,600at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued10,546,600at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued8,292,000at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued8,196,400at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees44at 2025-12-31StandaloneNumber of employees
Employees41at 2024-12-31StandaloneNumber of employees
Employees54at 2023-12-31vStandaloneNumber of employees
Employees39at 2022-12-31vStandaloneNumber of employees
Employees26at 2021-12-31dStandaloneNumber 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 · 1,514
ItemContextValueUnit
Equity in earnings losses of affiliates if equity method is applied (5-year summary)Prior2YearDuration_NonConsolidatedMember-JPY
Equity in earnings losses of affiliates if equity method is applied (5-year summary)Prior1YearDuration_NonConsolidatedMember-JPY
Equity in earnings losses of affiliates if equity method is applied (5-year summary)CurrentYearDuration_NonConsolidatedMember-JPY
Capital stock (5-year summary)Prior4YearInstant_NonConsolidatedMember241384000JPY
Capital stock (5-year summary)Prior3YearInstant_NonConsolidatedMember263592000JPY
Capital stock (5-year summary)Prior2YearInstant_NonConsolidatedMember15970000JPY
Capital stock (5-year summary)Prior1YearInstant_NonConsolidatedMember27910000JPY
Capital stock (5-year summary)CurrentYearInstant_NonConsolidatedMember57521000JPY
Total number of issued shares (5-year summary)Prior4YearInstant_NonConsolidatedMember8196400
Total number of issued shares (5-year summary)Prior3YearInstant_NonConsolidatedMember8292000
Total number of issued shares (5-year summary)Prior2YearInstant_NonConsolidatedMember10546600
Total number of issued shares (5-year summary)Prior1YearInstant_NonConsolidatedMember12260600
Total number of issued shares (5-year summary)CurrentYearInstant_NonConsolidatedMember12409400
Net assets (5-year summary)Prior4YearInstant_NonConsolidatedMember491851000JPY
Net assets (5-year summary)Prior3YearInstant_NonConsolidatedMember723891000JPY
Net assets (5-year summary)Prior2YearInstant_NonConsolidatedMember3001571000JPY
Net assets (5-year summary)Prior1YearInstant_NonConsolidatedMember5757432000JPY
Net assets (5-year summary)CurrentYearInstant_NonConsolidatedMember5199232000JPY
Total assets (5-year summary)Prior4YearInstant_NonConsolidatedMember843306000JPY
Total assets (5-year summary)Prior3YearInstant_NonConsolidatedMember2857851000JPY
Total assets (5-year summary)Prior2YearInstant_NonConsolidatedMember8843351000JPY
Total assets (5-year summary)Prior1YearInstant_NonConsolidatedMember13807601000JPY
Total assets (5-year summary)CurrentYearInstant_NonConsolidatedMember18204167000JPY
Net assets per share (5-year summary)Prior4YearInstant_NonConsolidatedMember60.01
Net assets per share (5-year summary)Prior3YearInstant_NonConsolidatedMember87.28
Net assets per share (5-year summary)Prior2YearInstant_NonConsolidatedMember284.59
Net assets per share (5-year summary)Prior1YearInstant_NonConsolidatedMember469.59
Net assets per share (5-year summary)CurrentYearInstant_NonConsolidatedMember425.60
Dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
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_NonConsolidatedMember19.64
Basic earnings loss per share (5-year summary)Prior3YearDuration_NonConsolidatedMember22.70
Basic earnings loss per share (5-year summary)Prior2YearDuration_NonConsolidatedMember23.97
Basic earnings loss per share (5-year summary)Prior1YearDuration_NonConsolidatedMember21.17
Basic earnings loss per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-21.60
Diluted earnings per share (5-year summary)Prior4YearDuration_NonConsolidatedMember17.99
Diluted earnings per share (5-year summary)Prior3YearDuration_NonConsolidatedMember21.03
Diluted earnings per share (5-year summary)Prior2YearDuration_NonConsolidatedMember22.92
Diluted earnings per share (5-year summary)Prior1YearDuration_NonConsolidatedMember19.54
Diluted earnings per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Equity to asset ratio (5-year summary)Prior4YearInstant_NonConsolidatedMember0.583
Equity to asset ratio (5-year summary)Prior3YearInstant_NonConsolidatedMember0.253

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 · 21 of 22 passed
balance sheet identityconsolidated 2024-12-31pass rounding
balance sheet identityconsolidated 2025-12-31pass
balance sheet identitynon_consolidated 2024-12-31pass rounding
balance sheet identitynon_consolidated 2025-12-31pass rounding
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-12-31mismatch
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