Annual report

Period2025-01-01 → 2025-12-31

Filed2026-03-27

StandardJapan GAAP

ConsolidatedYes

Data checks24 of 24 passed

Key figures · 147

Metric	Value	Period	Scope	Source row
Revenue	¥56.6bn	2025-01-01 → 2025-12-31	Cons.	Net sales
Revenue	¥47.7bn	2024-01-01 → 2024-12-31	Cons.	Net sales
Revenue	¥45.1bn	2023-01-01 → 2023-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥41.0bn	2022-01-01 → 2022-12-31^v	Cons.	Net sales (5-year summary)
Revenue	¥35.9bn	2021-01-01 → 2021-12-31^v	Cons.	Net sales (5-year summary)
Operating income	¥4.0bn	2025-01-01 → 2025-12-31	Cons.	Operating income
Operating income	¥233m	2024-01-01 → 2024-12-31	Cons.	Operating income
Ordinary income	¥4.2bn	2025-01-01 → 2025-12-31	Cons.	Ordinary income
Ordinary income	¥388m	2024-01-01 → 2024-12-31	Cons.	Ordinary income
Ordinary income	¥612m	2023-01-01 → 2023-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	¥97m	2022-01-01 → 2022-12-31^v	Cons.	Ordinary income loss (5-year summary)
Ordinary income	−¥72m	2021-01-01 → 2021-12-31^v	Cons.	Ordinary income loss (5-year summary)
Profit before tax	¥3.3bn	2025-01-01 → 2025-12-31	Cons.	Income before income taxes
Profit before tax	−¥401m	2024-01-01 → 2024-12-31	Cons.	Income before income taxes
Net income (owners)	¥2.1bn	2025-01-01 → 2025-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	−¥479m	2024-01-01 → 2024-12-31	Cons.	Profit loss attributable to owners of parent
Net income (owners)	¥252m	2023-01-01 → 2023-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥168m	2022-01-01 → 2022-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income (owners)	−¥39m	2021-01-01 → 2021-12-31^v	Cons.	Profit loss attributable to owners of parent (5-year summary)
Net income	¥2.1bn	2025-01-01 → 2025-12-31	Cons.	Profit loss
Net income	−¥477m	2024-01-01 → 2024-12-31	Cons.	Profit loss
Total assets	¥29.7bn	at 2025-12-31	Cons.	Assets
Total assets	¥25.5bn	at 2024-12-31	Cons.	Assets
Total assets	¥27.4bn	at 2023-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥30.8bn	at 2022-12-31^v	Cons.	Total assets (5-year summary)
Total assets	¥27.2bn	at 2021-12-31^v	Cons.	Total assets (5-year summary)
Total liabilities	¥16.6bn	at 2025-12-31	Cons.	Liabilities
Total liabilities	¥16.2bn	at 2024-12-31	Cons.	Liabilities
Net assets / equity	¥13.1bn	at 2025-12-31	Cons.	Net assets
Net assets / equity	¥9.3bn	at 2024-12-31	Cons.	Net assets
Net assets / equity	¥10.0bn	at 2023-12-31^v	Cons.	Net assets
Net assets / equity	¥10.1bn	at 2022-12-31^v	Cons.	Net assets (5-year summary)
Net assets / equity	¥9.8bn	at 2021-12-31^v	Cons.	Net assets (5-year summary)
Cash and deposits	¥11.5bn	at 2025-12-31	Cons.	Cash and deposits
Cash and deposits	¥7.1bn	at 2024-12-31	Cons.	Cash and deposits
Cash & equivalents	¥11.3bn	at 2025-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.7bn	at 2024-12-31	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.4bn	at 2023-12-31^v	Cons.	Cash and cash equivalents
Cash & equivalents	¥6.5bn	at 2022-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Cash & equivalents	¥6.1bn	at 2021-12-31^v	Cons.	Cash and cash equivalents (5-year summary)
Operating cash flow	¥4.5bn	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	¥860m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in operating activities
Operating cash flow	−¥141m	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	−¥642m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Operating cash flow	¥1.7bn	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in operating activities (5-year summary)
Investing cash flow	¥703m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥498m	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in investment activities
Investing cash flow	¥1.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥662m	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Investing cash flow	−¥65m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in investing activities (5-year summary)
Financing cash flow	−¥503m	2025-01-01 → 2025-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥1.1bn	2024-01-01 → 2024-12-31	Cons.	Net cash provided by used in financing activities
Financing cash flow	−¥1.2bn	2023-01-01 → 2023-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	¥1.7bn	2022-01-01 → 2022-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
Financing cash flow	−¥484m	2021-01-01 → 2021-12-31^v	Cons.	Net cash provided by used in financing activities (5-year summary)
EPS (basic)	¥201.98	2025-01-01 → 2025-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-46.61	2024-01-01 → 2024-12-31	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥24.58	2023-01-01 → 2023-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-16.63	2022-01-01 → 2022-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-4.14	2021-01-01 → 2021-12-31^v	Cons.	Basic earnings loss per share (5-year summary)
EPS (diluted)	¥23.97	2023-01-01 → 2023-12-31^v	Cons.	Diluted earnings per share (5-year summary)
Net assets per share	¥1,147.95	at 2025-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥903.71	at 2024-12-31	Cons.	Net assets per share (5-year summary)
Net assets per share	¥974.98	at 2023-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥985.14	at 2022-12-31^v	Cons.	Net assets per share (5-year summary)
Net assets per share	¥1,000.87	at 2021-12-31^v	Cons.	Net assets per share (5-year summary)
Equity ratio	43.9%	at 2025-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	36.4%	at 2024-12-31	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	36.6%	at 2023-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	32.7%	at 2022-12-31^v	Cons.	Equity to asset ratio (5-year summary)
Equity ratio	35.8%	at 2021-12-31^v	Cons.	Equity to asset ratio (5-year summary)
ROE	18.6%	2025-01-01 → 2025-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	-5.0%	2024-01-01 → 2024-12-31	Cons.	Rate of return on equity (5-year summary)
ROE	2.5%	2023-01-01 → 2023-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	-1.7%	2022-01-01 → 2022-12-31^v	Cons.	Rate of return on equity (5-year summary)
ROE	-0.4%	2021-01-01 → 2021-12-31^v	Cons.	Rate of return on equity (5-year summary)
Employees	1,338	at 2025-12-31	Cons.	Number of employees
Employees	1,400	at 2024-12-31	Cons.	Number of employees
Employees	1,403	at 2023-12-31^v	Cons.	Number of employees
Employees	1,431	at 2022-12-31^v	Cons.	Number of employees
Employees	1,359	at 2021-12-31^v	Cons.	Number of employees
Revenue	¥42.1bn	2025-01-01 → 2025-12-31	Standalone	Net sales
Revenue	¥33.7bn	2024-01-01 → 2024-12-31	Standalone	Net sales
Revenue	¥32.1bn	2023-01-01 → 2023-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥29.2bn	2022-01-01 → 2022-12-31^v	Standalone	Net sales (5-year summary)
Revenue	¥26.6bn	2021-01-01 → 2021-12-31^v	Standalone	Net sales (5-year summary)
Operating income	¥2.8bn	2025-01-01 → 2025-12-31	Standalone	Operating income
Operating income	−¥779m	2024-01-01 → 2024-12-31	Standalone	Operating income
Ordinary income	¥3.5bn	2025-01-01 → 2025-12-31	Standalone	Ordinary income
Ordinary income	−¥619m	2024-01-01 → 2024-12-31	Standalone	Ordinary income
Ordinary income	¥253m	2023-01-01 → 2023-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥496m	2022-01-01 → 2022-12-31^v	Standalone	Ordinary income loss (5-year summary)
Ordinary income	−¥329m	2021-01-01 → 2021-12-31^v	Standalone	Ordinary income loss (5-year summary)
Profit before tax	¥2.7bn	2025-01-01 → 2025-12-31	Standalone	Income before income taxes
Profit before tax	−¥1.4bn	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	−¥1.2bn	2024-01-01 → 2024-12-31	Standalone	Profit loss
Net income	−¥49m	2023-01-01 → 2023-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥1.0bn	2022-01-01 → 2022-12-31^v	Standalone	Net income loss (5-year summary)
Net income	−¥286m	2021-01-01 → 2021-12-31^v	Standalone	Net income loss (5-year summary)
Total assets	¥23.0bn	at 2025-12-31	Standalone	Assets
Total assets	¥20.0bn	at 2024-12-31	Standalone	Assets
Total assets	¥22.4bn	at 2023-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥25.8bn	at 2022-12-31^v	Standalone	Total assets (5-year summary)
Total assets	¥22.9bn	at 2021-12-31^v	Standalone	Total assets (5-year summary)
Total liabilities	¥13.3bn	at 2025-12-31	Standalone	Liabilities
Total liabilities	¥13.7bn	at 2024-12-31	Standalone	Liabilities
Net assets / equity	¥9.8bn	at 2025-12-31	Standalone	Net assets
Net assets / equity	¥6.2bn	at 2024-12-31	Standalone	Net assets
Net assets / equity	¥7.7bn	at 2023-12-31^v	Standalone	Net assets
Net assets / equity	¥8.0bn	at 2022-12-31^v	Standalone	Net assets (5-year summary)
Net assets / equity	¥8.4bn	at 2021-12-31^v	Standalone	Net assets (5-year summary)
Cash and deposits	¥7.6bn	at 2025-12-31	Standalone	Cash and deposits
Cash and deposits	¥3.9bn	at 2024-12-31	Standalone	Cash and deposits
EPS (basic)	¥183.54	2025-01-01 → 2025-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-119.34	2024-01-01 → 2024-12-31	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-4.84	2023-01-01 → 2023-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-100.19	2022-01-01 → 2022-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
EPS (basic)	¥-29.72	2021-01-01 → 2021-12-31^v	Standalone	Basic earnings loss per share (5-year summary)
Dividend per share	¥20	2025-01-01 → 2025-12-31	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥25	2022-01-01 → 2022-12-31^v	Standalone	Dividend paid per share (5-year summary)
Dividend per share	¥25	2021-01-01 → 2021-12-31^v	Standalone	Dividend paid per share (5-year summary)
Net assets per share	¥860.08	at 2025-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥607.96	at 2024-12-31	Standalone	Net assets per share (5-year summary)
Net assets per share	¥749	at 2023-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥783.19	at 2022-12-31^v	Standalone	Net assets per share (5-year summary)
Net assets per share	¥867.95	at 2021-12-31^v	Standalone	Net assets per share (5-year summary)
Equity ratio	42.4%	at 2025-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	31.3%	at 2024-12-31	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	34.4%	at 2023-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	31.0%	at 2022-12-31^v	Standalone	Equity to asset ratio (5-year summary)
Equity ratio	36.8%	at 2021-12-31^v	Standalone	Equity to asset ratio (5-year summary)
ROE	23.6%	2025-01-01 → 2025-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	-17.6%	2024-01-01 → 2024-12-31	Standalone	Rate of return on equity (5-year summary)
ROE	-0.6%	2023-01-01 → 2023-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	-12.4%	2022-01-01 → 2022-12-31^v	Standalone	Rate of return on equity (5-year summary)
ROE	-3.3%	2021-01-01 → 2021-12-31^v	Standalone	Rate of return on equity (5-year summary)
Shares issued	11,366,700	at 2025-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	10,397,100	at 2024-12-31	Standalone	Total number of issued shares (5-year summary)
Shares issued	10,397,100	at 2023-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	10,349,600	at 2022-12-31^v	Standalone	Total number of issued shares (5-year summary)
Shares issued	9,842,000	at 2021-12-31^v	Standalone	Total number of issued shares (5-year summary)
Employees	954	at 2025-12-31	Standalone	Number of employees
Employees	987	at 2024-12-31	Standalone	Number of employees
Employees	964	at 2023-12-31^v	Standalone	Number of employees
Employees	987	at 2022-12-31^v	Standalone	Number of employees
Employees	914	at 2021-12-31^v	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 · 1,608

Item	Context	Value	Unit
Issuance of new shares	CurrentYearDuration	1499000000	JPY
Profit loss attributable to owners of parent	CurrentYearDuration	2081000000	JPY
Purchase of treasury stock	CurrentYearDuration	-0	JPY
Disposal of treasury stock	CurrentYearDuration	184000000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ValuationDifferenceOnAvailableForSaleSecuritiesMember	-41000000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ForeignCurrencyTranslationAdjustmentMember	35000000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	-6000000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_SubscriptionRightsToSharesMember	-0	JPY
Net changes of items other than shareholders equity	CurrentYearDuration_NonControllingInterestsMember	34000000	JPY
Net changes of items other than shareholders equity	CurrentYearDuration	27000000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationDifferenceOnAvailableForSaleSecuritiesMember	-41000000	JPY
Total changes of items during the period	CurrentYearDuration_ForeignCurrencyTranslationAdjustmentMember	35000000	JPY
Total changes of items during the period	CurrentYearDuration_ValuationAndTranslationAdjustmentsMember	-6000000	JPY
Total changes of items during the period	CurrentYearDuration_SubscriptionRightsToSharesMember	-0	JPY
Total changes of items during the period	CurrentYearDuration_NonControllingInterestsMember	34000000	JPY
Total changes of items during the period	CurrentYearDuration	3793000000	JPY
Net assets	CurrentYearInstant_ValuationDifferenceOnAvailableForSaleSecuritiesMember	25000000	JPY
Net assets	CurrentYearInstant_ForeignCurrencyTranslationAdjustmentMember	-144000000	JPY
Net assets	CurrentYearInstant_ValuationAndTranslationAdjustmentsMember	-118000000	JPY
Net assets	CurrentYearInstant_SubscriptionRightsToSharesMember	－	JPY
Net assets	CurrentYearInstant_NonControllingInterestsMember	64000000	JPY
Net assets	CurrentYearInstant	13111000000	JPY
Income before income taxes	Prior1YearDuration	-401000000	JPY
Income before income taxes	CurrentYearDuration	3308000000	JPY
Depreciation and amortization ope cf	Prior1YearDuration	532000000	JPY
Depreciation and amortization ope cf	CurrentYearDuration	477000000	JPY
Impairment loss ope cf	Prior1YearDuration	39000000	JPY
Impairment loss ope cf	CurrentYearDuration	－	JPY
Amortization of goodwill ope cf	Prior1YearDuration	51000000	JPY
Amortization of goodwill ope cf	CurrentYearDuration	56000000	JPY
Loss gain on sales and retirement of property plant and equipment ope cf	Prior1YearDuration	4000000	JPY
Loss gain on sales and retirement of property plant and equipment ope cf	CurrentYearDuration	163000000	JPY
Loss gain on sales of stocks of subsidiaries and affiliates ope cf	Prior1YearDuration	－	JPY
Loss gain on sales of stocks of subsidiaries and affiliates ope cf	CurrentYearDuration	133000000	JPY
Loss gain on sales and valuation of investment securities ope cf	Prior1YearDuration	-416000000	JPY
Loss gain on sales and valuation of investment securities ope cf	CurrentYearDuration	-55000000	JPY
Special investigation expenses ope cf	Prior1YearDuration	1163000000	JPY
Special investigation expenses ope cf	CurrentYearDuration	－	JPY
Increase decrease in allowance for doubtful accounts ope cf	Prior1YearDuration	-4000000	JPY
Increase decrease in allowance for doubtful accounts ope cf	CurrentYearDuration	580000000	JPY
Increase decrease in provision for bonuses ope cf	Prior1YearDuration	6000000	JPY
Increase decrease in provision for bonuses ope cf	CurrentYearDuration	393000000	JPY
Increase decrease in provision for loss on order received ope cf	Prior1YearDuration	-64000000	JPY
Increase decrease in provision for loss on order received ope cf	CurrentYearDuration	80000000	JPY
Interest and dividends income ope cf	Prior1YearDuration	-52000000	JPY
Interest and dividends income ope cf	CurrentYearDuration	-26000000	JPY
Foreign exchange losses gains ope cf	Prior1YearDuration	-117000000	JPY
Foreign exchange losses gains ope cf	CurrentYearDuration	-28000000	JPY
Interest expenses ope cf	Prior1YearDuration	93000000	JPY
Interest expenses ope cf	CurrentYearDuration	55000000	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 rounding
balance sheet identity	non_consolidated 2025-12-31	pass rounding
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