| Market Cap | JPY 329.60B | |
| Enterprise Value | JPY 215.94B | |
| Revenue | JPY 194.09B | +33.9% |
| Gross Profit | JPY 150.06B | +36.5% |
| EBITDA | JPY 80.73B | +49.2% |
| Net Income | JPY 54.61B | +30.9% |
| Diluted EPS | JPY 44.74 | +32.9% |
| Free Cash Flow | JPY 54.99B | +27.1% |
| Ratio | 2024 | 2025 | 2026 | Trend · 3y | vs own |
|---|---|---|---|---|---|
| ▾Margins | |||||
| Gross Margin | 72.13% | 75.84% | 77.32% | 83% | |
| Operating Margin | 26.96% | 35.75% | 40.12% | 83% | |
| EBITDA Margin | 28.83% | 37.34% | 41.60% | 83% | |
| NOPAT Margin | 16.67% | 27.06% | 27.80% | 83% | |
| Net Margin | 17.59% | 28.80% | 28.14% | 50% | |
| FCF Margin | 23.86% | 29.86% | 28.33% | 50% | |
| OCF Margin | 22.18% | 28.17% | 27.08% | 50% | |
| Gross Profitability | 46.21% | 54.30% | 63.94% | 83% | |
| Capex Intensity | −1.69% | −1.70% | −1.26% | 83% | |
| ▸Returns on Capital · 6 ratios | |||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||
| ▸Earnings quality · 7 ratios | |||||
| ▸Liquidity & coverage · 6 ratios | |||||
| ▸Leverage · 9 ratios | |||||
| ▸Working capital · 3 ratios | |||||
| ▸Capital allocation · 1 ratios | |||||
The five drivers multiply to 37.6% vs reported ROE 41.6%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenue | JPY 41.05B | JPY 52.76B | JPY 72.62B | JPY 99.98B | JPY 144.90B | JPY 194.09B |
| YoY % | +28.5% | +37.6% | +37.7% | +44.9% | +33.9% | |
| Cost of Revenue | — | — | — | JPY 27.86B | JPY 35.01B | JPY 44.02B |
| YoY % | +25.6% | +25.8% | ||||
| Gross Profit | — | — | — | JPY 72.11B | JPY 109.90B | JPY 150.06B |
| YoY % | +52.4% | +36.5% | ||||
| SG&A Expense | — | — | — | JPY 45.16B | JPY 58.09B | JPY 72.20B |
| YoY % | +28.6% | +24.3% | ||||
| Operating Income | — | — | — | JPY 26.95B | JPY 51.81B | JPY 77.86B |
| YoY % | +92.2% | +50.3% | ||||
| Pretax Income | — | — | — | JPY 28.63B | JPY 55.44B | JPY 79.24B |
| YoY % | +93.6% | +42.9% | ||||
| Income Tax | — | — | — | JPY 10.92B | JPY 13.47B | JPY 24.32B |
| YoY % | +23.4% | +80.5% | ||||
| Net Income (incl. NCI) | — | — | — | JPY 17.71B | JPY 41.96B | JPY 54.91B |
| YoY % | +136.9% | +30.9% | ||||
| Minority Interest (P&L) | — | — | — | JPY 127.0M | JPY 231.0M | JPY 306.0M |
| YoY % | +81.9% | +32.5% | ||||
| Net Income | — | — | — | JPY 17.58B | JPY 41.73B | JPY 54.61B |
| YoY % | +137.3% | +30.9% | ||||
| EPS (Basic) | -JPY 15.98 | JPY 2.83 | JPY 6.75 | JPY 14.62 | JPY 35.32 | JPY 45.33 |
| YoY % | +138.5% | +116.6% | +141.6% | +28.3% | ||
| EPS (Diluted) | — | — | — | JPY 14.37 | JPY 33.66 | JPY 44.74 |
| YoY % | +134.2% | +32.9% |
Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
