financial highlights

Key Financial Data and Trends

(1) Consolidated Financial Data, etc.

(Thousand of Yen, unless stated otherwise)
Fiscal year 15th 16th 17th 18th 19th
Year end December 2019 December 2020 December 2021 December 2022 December 2023
Net sales ― ― ― 10,008,338 5,589,708
Ordinary profit (loss) ― ― ― 1,999,878 (736,130)
Profit (loss) attributable to owners of parent ― ― ― 1,179,238 (1,962,817)
Comprehensive income ― ― ― 1,179,437 (1,956,588)
Net assets ― ― ― 8,506,092 7,209,909
Total assets ― ― ― 10,433,347 8,170,243
Net assets per share (Yen) ― ― ― 204,83 164,32
Earnings (loss) per share (Yen) ― ― ― 30,20 (49,19)
Diluted earnings per share (Yen) ― ― ― 29,77 ―
Equity ratio (%) ― ― ― 77,6 84,9
Return on equity (%) ― ― ― 14,6 ―
Price earnings ratio (Times) ― ― ― 21,3 ―
Cash flows from operating activities ― ― ― 1,614,241 (194,685)
Cash flows from investing activities ― ― ― (47,127) (376,696)
Cash flows from financing activities ― ― ― 627,985 680,160
Cash and cash equivalents at end of the year ― ― ― 6,282,554 6,517,007
Employees (Persons)
(In addition, the average number of temporary employees)		 ―
（―）		 ―
（―）		 ―
（―）		 122
（30）		 109
（20）

(Notes)

  1. Consolidated financial statements have been prepared since the 18th fiscal year, so data prior to that are not included.
  2. "Accounting Standards for Revenue Recognition" (Corporate Accounting Standards No. 29, March 31, 2020), etc. have been applied since the 18th fiscal period, and the main management indicators, etc. for the 18th and 19th fiscal periods are These are indicators after applying standards, etc.
  3. Diluted net income per share for the 19th period is not stated because although there are diluted shares, it is a net loss per share.
  4. Return on equity for the 19th term is not stated as a net loss attributable to parent company shareholders has been recorded.
  5. The price/earnings ratio for the 19th period is not stated as a net loss was recorded for the period.

(2) Financial Data, etc. of the Company submitting Annual Securities report

(Thousand of Yen, unless stated otherwise)
Fiscal year 15th 16th 17th 18th 19th
Year end December 2019 December 2020 December 2021 December 2022 December 2023
Net sales 2,837,753 2,987,051 8,256,924 10,008,338 5,589,708
Ordinary profit (loss) (4,376,655) (4,615,903) 1,001,133 2,001,204 (773,822)
Profit (loss) (4,376,258) (4,090,216) 2,032,203 1,186,022 (1,986,723)
Investment profit or loss when the equity method is applied ― ― ― ― ―
Share capital 14,870,639 17,044,943 17,157,628 17,548,459 17,952,692
Total number of issued shares (Shares) 26,437,681 38,202,956 38,457,206 39,603,606 42,278,081
Net assets 4,400,116 4,657,318 6,745,672 8,511,025 7,197,165
Total assets 5,273,955 6,274,707 8,452,997 10,410,354 8,177,010
Net assets per share (Yen) 143.07 105.76 162.26 204.95 164.02
Dividend per share (Yen)
(Interim dividend per share) (Yen)		 ―
（―）		 ―
（―）		 ―
（―）		 ―
（―）		 ―
（―）
Earnings (loss) per share (Yen) (189.03) (124.13) 53.04 30.37 (49.79)
Diluted earnings per share (Yen) ― ― 52.32 29.95 ―
Equity ratio (%) 71.7 64.3 73.7 77.8 84.6
Return on equity (%) ― ― 39.6 16.6 ―
Price earnings ratio (Times) ― ― 21.6 21.2 ―
Dividend payout ratio (%) ― ― ― ― ―
Cash flows from operating activities (4,350,738) (4,122,483) 140,042 ― ―
Cash flows from investing activities (216,462) (160,309) (70,849) ― ―
Cash flows from financing activities 3,740,045 4,222,090 (71,922) ― ―
Cash and cash equivalents at end of the year 3,910,830 3,848,626 3,860,106 ― ―
Employees (Persons)
(In addition, the average number of temporary employees)		 107
（18）		 127
（41）		 141
（45）		 118
（28）		 103
（20）
Total shareholder return (%)
(Comparison indicator: TOPIX including dividend) (%)		 79.9
（118.1）		 49.9
（126.8）		 150.7
（143.0）		 84.6
（139.5）		 32.5
（178.9）
Highest share price (Yen) 275
（874）		 653 2,566 1,290 681
Lowest share price (Yen) 150
（537）		 243 372 606 223

(Notes)

  1. Diluted net income per share for the 15th, 16th, and 19th fiscal periods is not stated because although there is dilutive stock, this is a net loss per share.
  2. Return on equity for the 15th, 16th and 19th fiscal periods is not stated as a net loss was recorded for the respective periods.
  3. The price/earnings ratios for the 15th, 16th, and 19th periods are not stated because a net loss was recorded for the period.
  4. Effective July 1, 2019, we conducted a reverse stock split at a ratio of 4 shares of common stock to 1 share of common stock. Assuming that the reverse stock split was carried out at the beginning of the 15th term, net assets per share and net income or loss per share are calculated.
  5. The comparison material for total shareholder return has been changed from "JASDAQ INDEX Growth" to "TOPIX including dividends" due to the review of market classification by the Tokyo Stock Exchange.
  6. The highest and lowest stock prices are those on the Tokyo Stock Exchange (Growth Market) after April 4, 2022, and those on the Tokyo Stock Exchange JASDAQ (Growth) before that. Regarding the stock price for the fiscal year ending December 2019, the highest and lowest stock prices after the reverse stock split are listed, and the highest and lowest stock prices before the reverse stock split are listed in parentheses.
  7. Since we have been preparing consolidated financial statements since the 18th fiscal period, investment income, cash flows from operating activities, cash flows from investing activities, cash flows from financing activities, and The year-end balance of cash and cash equivalents is not stated.
  8. "Accounting Standards for Revenue Recognition" (Corporate Accounting Standards No. 29, March 31, 2020), etc. have been applied from the beginning of the 18th fiscal period, and the main management indicators for the 18th and 19th fiscal periods are as follows. The indicators are after applying the relevant accounting standards, etc.