L is B145A東証グロース情報・通信業FY ending Dec 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +33.8% from the prior year, operating profit +257.9%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2022 | — | —× | -24.7% | —× | — |
| 2023 | 3.6% | 0.98× | 3.5% | 2.12× | 7.5% |
| 2024 | 0.8% | 0.59× | 0.5% | 1.58× | 0.8% |
| 2025 | 6.5% | 0.70× | 4.5% | 1.72× | 7.8% |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
Track R&D investment and how long operating capital remains tied up before sales turn into cash.
R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.
| Item | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|
| Revenue | 971 | 1,280 | 1,594 | 2,133 |
| Cost of revenue | 402 | 460 | 563 | 792 |
| Gross profit | 569 | 820 | 1,032 | 1,341 |
| SG&A | 833 | 782 | 984 | 1,172 |
| Operating income | -264 | 38 | 47 | 169 |
| Pretax income | -311 | 32 | 18 | 147 |
| Income tax | 6 | -14 | 5 | 8 |
| Net income attributable to owners | -316 | 46 | 13 | 139 |
| Operating margin | -27.2% | 3.0% | 3.0% | 7.9% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|
| Cash and equivalents | ¥1.09B | ¥1.01B | ¥1.87B | ¥1.41B |
| Total assets | ¥1.28B | ¥1.32B | ¥2.71B | ¥3.43B |
| Net assets | ¥590.2M | ¥636.2M | ¥1.71B | ¥1.85B |
| Share capital | ¥100M | ¥100M | ¥629.9M | ¥629.9M |
| Property, plant and equipment | ¥586K | ¥4.7M | ¥103.4M | ¥108.5M |
| Intangible assets excluding goodwill | ¥7.3M | ¥40.8M | ¥100.8M | ¥536.3M |
| Goodwill | — | — | ¥51M | ¥487M |
| Investment securities | — | — | ¥155M | ¥410.2M |
| Current assets | ¥1.25B | ¥1.23B | ¥2.24B | ¥2.24B |
| Current liabilities | ¥193.9M | ¥200.6M | ¥545.5M | ¥494.1M |
| Short-term borrowings | ¥30M | ¥30M | ¥60M | ¥30M |
| Long-term borrowings | ¥495.4M | ¥483.8M | ¥435.1M | ¥1.07B |
| Total liabilities | ¥689.3M | ¥684.4M | ¥999.4M | ¥1.58B |
| Non-controlling interests | — | — | — | ¥94K |
| Equity attributable to owners of parent | ¥590.2M | ¥636.2M | ¥1.71B | ¥1.85B |
| Retained earnings | -¥983.5M | -¥937.4M | -¥924.4M | -¥785.5M |
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