The Japanese company posted a Y457.00 million loss for the year ended 31 March, versus a Y67.00 million net profit a year earlier.
Revenue rose to Y6.97 billion from Y5.34 billion, but operating profit swung to a Y248.00 million loss from a Y351.00 million profit.
Pretax profit also turned into a Y334.00 million loss from a Y340.00 million profit, while per-share earnings fell to negative Y171.79 under Japanese accounting standards.
Is Innovation Inc.'s profit collapse a unique failure or a canary in the coal mine for Japan's tech sector?
In Japan's trust-based market, how does a company selling business reviews survive its own story of financial failure?
With revenue up 30%, is Innovation Inc.'s massive loss a strategic investment or a sign of uncontrolled spending?