Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-30

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 150

Metric	Value	Period	Scope	Source row
Revenue	¥1.9bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥2.1bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥2.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥2.2bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥2.3bn	2021-01-01 → 2021-12-31^d	Cons.	Net sales (5-year summary)
Operating income	−¥113m	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥22m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	−¥110m	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥28m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥174m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥219m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥253m	2021-01-01 → 2021-12-31^d	Cons.	Ordinary income loss (5-year summary)
Profit before tax	−¥110m	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	¥28m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	−¥181m	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥21m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥123m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥150m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	¥145m	2021-01-01 → 2021-12-31^d	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	−¥181m	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	¥21m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥1.5bn	at 2025-12-31	Cons.	Assets
Total assets	¥1.7bn	at 2024-12-31	Cons.	Assets
Total assets	¥1.8bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥1.8bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥1.9bn	at 2021-12-31^d	Cons.	Total assets (5-year summary)
Total liabilities	¥621m	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥663m	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥852m	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥1.1bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥1.1bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥1.0bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥501m	at 2021-12-31^d	Cons.	Net assets (5-year summary)
Cash and deposits	¥964m	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥1.1bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥854m	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥963m	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.0bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥1.0bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥1.1bn	at 2021-12-31^d	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	−¥18m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥68m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥206m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥165m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥234m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	−¥23m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥37m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	−¥100m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥90m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥43m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥67m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥96m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥138m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥172m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥640m	2021-01-01 → 2021-12-31^d	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥-136.68	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥15.79	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥93.27	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥116.64	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥161.23	2021-01-01 → 2021-12-31^d	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥15.77	2024-01-01 → 2024-12-31	Cons.	Diluted earnings per share (5-year summary)
EPS (diluted)	¥93.14	2023-01-01 → 2023-12-31^v	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥645.37	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥819.33	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥839.83	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥785.79	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥556.58	at 2021-12-31^d	Cons.	Net assets per share (5-year summary)
Equity ratio	57.8%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	62.0%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	61.0%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	57.2%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	26.7%	at 2021-12-31^d	Cons.	Equity to asset ratio (5-year summary)
ROE	1.9%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	11.5%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	19.4%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	33.3%	2021-01-01 → 2021-12-31^d	Cons.	Rate of return on equity (5-year summary)
Employees	133	at 2025-12-31	Cons.	Number of employees
Employees	130	at 2024-12-31	Cons.	Number of employees
Employees	128	at 2023-12-31^v	Cons.	Number of employees
Employees	141	at 2022-12-31^v	Cons.	Number of employees
Employees	140	at 2021-12-31^d	Cons.	Number of employees
Revenue	¥1.7bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥1.9bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥2.0bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥2.1bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥2.2bn	2021-01-01 → 2021-12-31^d	Standalone	Net sales (5-year summary)
Operating income	−¥128m	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	¥6m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	−¥123m	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	¥30m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥157m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥204m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	¥243m	2021-01-01 → 2021-12-31^d	Standalone	Ordinary income loss (5-year summary)
Profit before tax	−¥123m	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	¥30m	2024-01-01 → 2024-12-31	Standalone	Income before income taxes
Net income	−¥190m	2025-01-01 → 2025-12-31	Standalone	Profit loss
Net income	¥23m	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	¥107m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥131m	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	¥138m	2021-01-01 → 2021-12-31^d	Standalone	Net income loss (5-year summary)
Total assets	¥1.4bn	at 2025-12-31	Standalone	Assets
Total assets	¥1.7bn	at 2024-12-31	Standalone	Assets
Total assets	¥1.8bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥1.8bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥1.9bn	at 2021-12-31^d	Standalone	Total assets (5-year summary)
Total liabilities	¥609m	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥652m	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥834m	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥1.1bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥1.1bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥1.1bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥541m	at 2021-12-31^d	Standalone	Net assets (5-year summary)
Cash and deposits	¥873m	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥994m	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥-143.88	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥17.4	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥81.15	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥102.06	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥152.89	2021-01-01 → 2021-12-31^d	Standalone	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥17.39	2024-01-01 → 2024-12-31	Standalone	Diluted earnings per share (5-year summary)
EPS (diluted)	¥81.04	2023-01-01 → 2023-12-31^v	Standalone	Diluted earnings per share (5-year summary)
Dividend per share	¥12	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥42	2024-01-01 → 2024-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥42	2023-01-01 → 2023-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥45	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	¥631.76	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥812.68	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥837.37	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥798.19	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥600.76	at 2021-12-31^d	Standalone	Net assets per share (5-year summary)
Equity ratio	57.8%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	62.2%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	61.3%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	57.8%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	28.3%	at 2021-12-31^d	Standalone	Equity to asset ratio (5-year summary)
ROE	2.1%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	9.9%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	16.4%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	28.6%	2021-01-01 → 2021-12-31^d	Standalone	Rate of return on equity (5-year summary)
Shares issued	1,320,800	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	1,320,800	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	1,320,800	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	1,320,800	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	900,000	at 2021-12-31^d	Standalone	Total number of issued shares (5-year summary)
Employees	122	at 2025-12-31	Standalone	Number of employees
Employees	120	at 2024-12-31	Standalone	Number of employees
Employees	120	at 2023-12-31^v	Standalone	Number of employees
Employees	134	at 2022-12-31^v	Standalone	Number of employees
Employees	132	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 · 1,258

Item	Context	Value	Unit
Foreign exchange gains noi	CurrentYearDuration_NonConsolidatedMember	－	JPY
Subsidy income noi bounty	Prior1YearDuration_NonConsolidatedMember	－	JPY
Subsidy income noi bounty	CurrentYearDuration_NonConsolidatedMember	3300000	JPY
Gain on adjustment of account payable noi	Prior1YearDuration_NonConsolidatedMember	1762000	JPY
Gain on adjustment of account payable noi	CurrentYearDuration_NonConsolidatedMember	1601000	JPY
Fiduciary obligation fee noi	Prior1YearDuration_NonConsolidatedMember	6068000	JPY
Fiduciary obligation fee noi	CurrentYearDuration_NonConsolidatedMember	4017000	JPY
Other noi	Prior1YearDuration_NonConsolidatedMember	2203000	JPY
Other noi	CurrentYearDuration_NonConsolidatedMember	400000	JPY
Non operating income	Prior1YearDuration_NonConsolidatedMember	29617000	JPY
Non operating income	CurrentYearDuration_NonConsolidatedMember	11333000	JPY
Interest expenses noe	Prior1YearDuration_NonConsolidatedMember	3759000	JPY
Interest expenses noe	CurrentYearDuration_NonConsolidatedMember	3539000	JPY
Commission for syndicate loan noe	Prior1YearDuration_NonConsolidatedMember	2102000	JPY
Commission for syndicate loan noe	CurrentYearDuration_NonConsolidatedMember	2113000	JPY
Foreign exchange losses noe	Prior1YearDuration_NonConsolidatedMember	－	JPY
Foreign exchange losses noe	CurrentYearDuration_NonConsolidatedMember	761000	JPY
Other noe	Prior1YearDuration_NonConsolidatedMember	1000	JPY
Other noe	CurrentYearDuration_NonConsolidatedMember	13000	JPY
Non operating expenses	Prior1YearDuration_NonConsolidatedMember	5863000	JPY
Non operating expenses	CurrentYearDuration_NonConsolidatedMember	6428000	JPY
Ordinary income	Prior1YearDuration_NonConsolidatedMember	29972000	JPY
Ordinary income	CurrentYearDuration_NonConsolidatedMember	-123318000	JPY
Income before income taxes	Prior1YearDuration_NonConsolidatedMember	29972000	JPY
Income before income taxes	CurrentYearDuration_NonConsolidatedMember	-123318000	JPY
Income taxes current	Prior1YearDuration_NonConsolidatedMember	7645000	JPY
Income taxes current	CurrentYearDuration_NonConsolidatedMember	1280000	JPY
Income taxes deferred	Prior1YearDuration_NonConsolidatedMember	-659000	JPY
Income taxes deferred	CurrentYearDuration_NonConsolidatedMember	65429000	JPY
Income taxes	Prior1YearDuration_NonConsolidatedMember	6986000	JPY
Income taxes	CurrentYearDuration_NonConsolidatedMember	66709000	JPY
Profit loss	Prior1YearDuration_NonConsolidatedMember	22985000	JPY
Profit loss	CurrentYearDuration_NonConsolidatedMember	-190028000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_CapitalStockMember	266796000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_LegalCapitalSurplusMember	216796000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_CapitalSurplusMember	216796000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_LegalRetainedEarningsMember	12600000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_RetainedEarningsBroughtForwardMember	609453000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_RetainedEarningsMember	622053000	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_TreasuryStockMember	－	JPY
Net assets	Prior2YearInstant_NonConsolidatedMember_ShareholdersEquityMember	1105645000	JPY
Dividends from surplus	Prior1YearDuration_NonConsolidatedMember_RetainedEarningsBroughtForwardMember	-55473000	JPY
Dividends from surplus	Prior1YearDuration_NonConsolidatedMember_RetainedEarningsMember	-55473000	JPY
Dividends from surplus	Prior1YearDuration_NonConsolidatedMember_ShareholdersEquityMember	-55473000	JPY
Profit loss	Prior1YearDuration_NonConsolidatedMember_RetainedEarningsBroughtForwardMember	22985000	JPY
Profit loss	Prior1YearDuration_NonConsolidatedMember_RetainedEarningsMember	22985000	JPY
Profit loss	Prior1YearDuration_NonConsolidatedMember_ShareholdersEquityMember	22985000	JPY
Purchase of treasury stock	Prior1YearDuration_NonConsolidatedMember_ShareholdersEquityMember	－	JPY
Total changes of items during the period	Prior1YearDuration_NonConsolidatedMember_CapitalStockMember	－	JPY
Total changes of items during the period	Prior1YearDuration_NonConsolidatedMember_LegalCapitalSurplusMember	－	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
balance sheet identity	consolidated 2025-12-31	pass rounding
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