Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-31
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 136
MetricValuePeriodScopeSource row
Revenue¥9.9bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥8.4bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥7.3bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥5.0bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Revenue¥3.4bn2021-01-01 → 2021-12-31dCons.Net sales (5-year summary)
Operating income¥1.1bn2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥502m2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥869m2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥248m2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income−¥196m2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥1.1bn2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income−¥1.4bn2021-01-01 → 2021-12-31dCons.Ordinary income loss (5-year summary)
Profit before tax¥2.0bn2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥248m2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥1.3bn2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥108m2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)−¥150m2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥1.3bn2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)−¥1.7bn2021-01-01 → 2021-12-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥1.5bn2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥174m2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥21.0bnat 2025-12-31Cons.Assets
Total assets¥20.7bnat 2024-12-31Cons.Assets
Total assets¥18.2bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥17.0bnat 2022-12-31vCons.Total assets (5-year summary)
Total assets¥16.7bnat 2021-12-31dCons.Total assets (5-year summary)
Total liabilities¥12.1bnat 2025-12-31Cons.Liabilities
Total liabilities¥14.0bnat 2024-12-31Cons.Liabilities
Net assets / equity¥8.9bnat 2025-12-31Cons.Net assets
Net assets / equity¥6.6bnat 2024-12-31Cons.Net assets
Net assets / equity¥5.3bnat 2023-12-31vCons.Net assets
Net assets / equity¥5.1bnat 2022-12-31vCons.Net assets (5-year summary)
Net assets / equity¥6.1bnat 2021-12-31dCons.Net assets (5-year summary)
Cash and deposits¥3.6bnat 2025-12-31Cons.Cash and deposits
Cash and deposits¥2.9bnat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥3.5bnat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥2.8bnat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥2.8bnat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥2.0bnat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥1.8bnat 2021-12-31dCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥744m2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥436m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥395m2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥241m2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥373m2021-01-01 → 2021-12-31dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥649m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥2.6bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥617m2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥764m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥4m2021-01-01 → 2021-12-31dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥548m2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥2.1bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥981m2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥648m2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥21m2021-01-01 → 2021-12-31dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥4.822025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥0.432024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-0.592023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-5.112022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥-6.632021-01-01 → 2021-12-31dCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥0.422024-01-01 → 2024-12-31Cons.Diluted earnings per share (5-year summary)
Net assets per share¥21.03at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥14.6at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥13.43at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥13.92at 2022-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥18.82at 2021-12-31dCons.Net assets per share (5-year summary)
Equity ratio26.7%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio18.0%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio18.7%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio20.7%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio28.7%at 2021-12-31dCons.Equity to asset ratio (5-year summary)
ROE27.4%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE3.0%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
Employees529at 2025-12-31Cons.Number of employees
Employees404at 2024-12-31Cons.Number of employees
Employees372at 2023-12-31vCons.Number of employees
Employees364at 2022-12-31vCons.Number of employees
Employees355at 2021-12-31dCons.Number of employees
Revenue¥575m2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥342m2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥44m2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥69m2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥76m2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income−¥40m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income−¥285m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income−¥201m2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income−¥287m2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income−¥192m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥608m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥621m2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥436m2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax−¥579m2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income−¥472m2025-01-01 → 2025-12-31StandaloneProfit loss
Net income−¥580m2024-01-01 → 2024-12-31StandaloneProfit loss
Net income−¥63m2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income−¥629m2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income−¥787m2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥9.9bnat 2025-12-31StandaloneAssets
Total assets¥9.3bnat 2024-12-31StandaloneAssets
Total assets¥9.1bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥9.2bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥9.3bnat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥3.5bnat 2025-12-31StandaloneLiabilities
Total liabilities¥2.9bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥6.3bnat 2025-12-31StandaloneNet assets
Net assets / equity¥6.3bnat 2024-12-31StandaloneNet assets
Net assets / equity¥6.9bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥7.0bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥7.6bnat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥167mat 2025-12-31StandaloneCash and deposits
Cash and deposits¥252mat 2024-12-31StandaloneCash and deposits
EPS (basic)¥-1.782025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-2.282024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-0.252023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-2.482022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-3.12021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
Net assets per share¥23.51at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥24.47at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥26.85at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥27.01at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥29.48at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio63.6%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio67.2%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio75.0%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio74.2%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio80.7%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
Shares issued281,708,934at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued281,708,934at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued281,708,934at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued281,708,934at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued281,708,934at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees13at 2025-12-31StandaloneNumber of employees
Employees8at 2024-12-31StandaloneNumber of employees
Employees8at 2023-12-31vStandaloneNumber of employees
Employees8at 2022-12-31vStandaloneNumber of employees
Employees10at 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.

Segments · 46
SegmentItemPeriodValue
Reconciling Itemsreconcilingcapex2025-01-01 → 2025-12-31¥2m
Reconciling Itemsreconcilingdepreciation2025-01-01 → 2025-12-31¥516,000
Reconciling Itemsreconcilingsegment assetsat 2025-12-31¥145m
Reconciling Itemsreconcilingsegment profit2025-01-01 → 2025-12-31−¥477m
Lodgment Businessreportable segmentcapex2025-01-01 → 2025-12-31¥433m
Lodgment Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥440m
Lodgment Businessreportable segmentemployeesat 2025-12-31475 pure
Lodgment Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥9.0bn
Lodgment Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥9.0bn
Lodgment Businessreportable segmentsegment assetsat 2025-12-31¥16.8bn
Lodgment Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥1.4bn
Other Investment Businessreportable segmentcapex2025-01-01 → 2025-12-31¥9m
Other Investment Businessreportable segmentdepreciation2025-01-01 → 2025-12-31¥9m
Other Investment Businessreportable segmentemployeesat 2025-12-3141 pure
Other Investment Businessreportable segmentrevenue2025-01-01 → 2025-12-31¥946m
Other Investment Businessreportable segmentrevenue external2025-01-01 → 2025-12-31¥946m
Other Investment Businessreportable segmentsegment assetsat 2025-12-31¥4.1bn
Other Investment Businessreportable segmentsegment profit2025-01-01 → 2025-12-31¥137m
—segment totalcapex2025-01-01 → 2025-12-31¥442m
—segment totaldepreciation2025-01-01 → 2025-12-31¥450m
—segment totalrevenue2025-01-01 → 2025-12-31¥9.9bn
—segment totalrevenue external2025-01-01 → 2025-12-31¥9.9bn
—segment totalsegment assetsat 2025-12-31¥20.8bn
—segment totalsegment profit2025-01-01 → 2025-12-31¥1.5bn
Reconciling Itemsreconcilingcapex2024-01-01 → 2024-12-31¥2m
Reconciling Itemsreconcilingdepreciation2024-01-01 → 2024-12-31¥253,000
Reconciling Itemsreconcilingsegment assetsat 2024-12-31¥120m
Reconciling Itemsreconcilingsegment profit2024-01-01 → 2024-12-31−¥460m
Lodgment Businessreportable segmentcapex2024-01-01 → 2024-12-31¥3.0bn
Lodgment Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥309m
Lodgment Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥7.3bn
Lodgment Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥7.3bn
Lodgment Businessreportable segmentsegment assetsat 2024-12-31¥16.6bn
Lodgment Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥699m
Other Investment Businessreportable segmentcapex2024-01-01 → 2024-12-31¥7m
Other Investment Businessreportable segmentdepreciation2024-01-01 → 2024-12-31¥8m
Other Investment Businessreportable segmentrevenue2024-01-01 → 2024-12-31¥1.0bn
Other Investment Businessreportable segmentrevenue external2024-01-01 → 2024-12-31¥1.0bn
Other Investment Businessreportable segmentsegment assetsat 2024-12-31¥4.0bn
Other Investment Businessreportable segmentsegment profit2024-01-01 → 2024-12-31¥264m
—segment totalcapex2024-01-01 → 2024-12-31¥3.0bn
—segment totaldepreciation2024-01-01 → 2024-12-31¥317m
—segment totalrevenue2024-01-01 → 2024-12-31¥8.4bn
—segment totalrevenue external2024-01-01 → 2024-12-31¥8.4bn
—segment totalsegment assetsat 2024-12-31¥20.5bn
—segment totalsegment profit2024-01-01 → 2024-12-31¥962m

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

All source rows · 1,438
ItemContextValueUnit
Accounts payable tradePrior1YearInstant304519000JPY
Accounts payable tradeCurrentYearInstant326227000JPY
Current portion of long term loans payablePrior1YearInstant1266107000JPY
Current portion of long term loans payableCurrentYearInstant1190849000JPY
Accounts payable otherPrior1YearInstant3369342000JPY
Accounts payable otherCurrentYearInstant1176569000JPY
Accrued expensesPrior1YearInstant32755000JPY
Accrued expensesCurrentYearInstant31432000JPY
Income taxes payablePrior1YearInstant46798000JPY
Income taxes payableCurrentYearInstant321377000JPY
Provision for bonusesPrior1YearInstant83360000JPY
Provision for bonusesCurrentYearInstant186638000JPY
Other clPrior1YearInstant643390000JPY
Other clCurrentYearInstant564251000JPY
Current liabilitiesPrior1YearInstant5746275000JPY
Current liabilitiesCurrentYearInstant3797346000JPY
Long term loans payablePrior1YearInstant7672831000JPY
Long term loans payableCurrentYearInstant7721891000JPY
Long term guarantee depositedPrior1YearInstant226444000JPY
Long term guarantee depositedCurrentYearInstant226922000JPY
Deferred tax liabilitiesPrior1YearInstant17506000JPY
Deferred tax liabilitiesCurrentYearInstant34045000JPY
Other nclPrior1YearInstant343203000JPY
Other nclCurrentYearInstant357985000JPY
Noncurrent liabilitiesPrior1YearInstant8259986000JPY
Noncurrent liabilitiesCurrentYearInstant8340844000JPY
LiabilitiesPrior1YearInstant14006261000JPY
LiabilitiesCurrentYearInstant12138190000JPY
Capital stockPrior1YearInstant8534406000JPY
Capital stockCurrentYearInstant8534406000JPY
Capital surplusPrior1YearInstant2646101000JPY
Capital surplusCurrentYearInstant2688893000JPY
Retained earningsPrior1YearInstant-6719689000JPY
Retained earningsCurrentYearInstant-5445501000JPY
Treasury stockPrior1YearInstant-1032417000JPY
Treasury stockCurrentYearInstant-548684000JPY
Shareholders equityPrior1YearInstant3428401000JPY
Shareholders equityCurrentYearInstant5229114000JPY
Foreign currency translation adjustmentPrior1YearInstant279189000JPY
Foreign currency translation adjustmentCurrentYearInstant380967000JPY
Valuation and translation adjustmentsPrior1YearInstant279189000JPY
Valuation and translation adjustmentsCurrentYearInstant380967000JPY
Subscription rights to sharesPrior1YearInstant97203000JPY
Subscription rights to sharesCurrentYearInstant64800000JPY
Non controlling interestsPrior1YearInstant2842236000JPY
Non controlling interestsCurrentYearInstant3175742000JPY
Net assetsPrior1YearInstant6647031000JPY
Net assetsCurrentYearInstant8850624000JPY
Liabilities and net assetsPrior1YearInstant20653292000JPY
Liabilities and net assetsCurrentYearInstant20988815000JPY

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