ROUND ONE Corporation
4680・Prime Market・Services
Business
ROUND ONE Corporation operates indoor complex leisure facilities combining bowling, amusement, karaoke, SPOCHA (time-based sports facilities), and other offerings. In Japan, the company has built a network of 99 stores, while in the United States it operates 59 stores, mainly centered on large shopping malls. The group consists of 9 consolidated subsidiaries and 1 affiliated company, and also engages in facility operations in China (Guangzhou and Shenzhen), a food & beverage business in the United States (ROUND ONE Delicious), and a prize sales business (SK Japan). While the main customer base is centered on younger generations, the company is also working to expand its appeal to family customers. For FY2026 (ending March 2026), revenue was ¥189,548 million and operating profit was ¥28,773 million.
Business Model
The company consolidates diverse services such as Bowling, Amusement, Karaoke, and SPOCHA within a single facility, collecting usage fees from visiting customers for each service. Amusement, centered on Crane Games, is the largest revenue source (¥53,788 million in Japan, ¥59,444 million in the United States), with original prize development and collaboration campaigns used to raise customer spend per visit and visit frequency. The company pursues both expansion of its operating base through new store openings and improved utilization rates at existing stores, applying operating cash flow (¥60,461 million) as internal funds allocated toward overseas store investment.
Company Strengths
The Company has built a network of 158 stores in total, comprising 99 domestic stores and 59 stores in the United States. The U.S. Segment recorded revenue of ¥79,662 million and operating profit of ¥8,582 million (profit margin of 10.8%), with management explicitly noting that high investment efficiency is being achieved. Of total capital expenditures of ¥66,844 million, ¥42,530 million—the largest allocation—was directed toward the United States, giving the Company a foundation for expansion in the U.S. market, where there remains substantial room for further store openings.
Crane Games are the largest source of revenue in both Japan and the United States, with Japan Amusement revenue reaching ¥53,788 million (up 6.2% year on year) and U.S. Amusement revenue reaching ¥59,444 million (up 9.2% year on year). The Company has continuously expanded its lineup of proprietary original prizes, co-developed prizes with a wide range of creators, and offered a diverse array of prizes, thereby building a prize procurement and development system that is difficult for competitors to replicate in a short period.
Cash flows from operating activities for FY2026 (ending March 2026) amounted to ¥60,461 million. This reflects a structure in which depreciation and amortization of ¥43,276 million accumulates on top of profit before tax of ¥25,418 million, enabling the Company to generate ample internal funds despite operating a capital-intensive business. This financial structure, which allows internally generated funds to be allocated to overseas new store investment (acquisition of property, plant and equipment of ¥30,468 million), supports continued store expansion.
ENVALITH's Perspective
Performance Trend
Revenue expanded roughly twofold over five periods, from ¥96,421 million in FY2022 (ending March 2022) to ¥189,548 million in FY2026 (ending March 2026). Operating profit also achieved a V-shaped recovery from a loss of ¥1,726 million in FY2022 (ending March 2022) to ¥28,773 million, with FY2026 (ending March 2026) continuing stable growth at 9.7% year-on-year increase. As external factors, the increase in inbound visitors to Japan and continued wage hikes supported domestic consumption. On the other hand, sluggish growth in real income due to price increases and inflation and rising labor costs in the United States were partial cost-increasing factors. The company's forecast for FY2027 (ending March 2027) projects revenue of ¥219,090 million and operating profit of ¥33,050 million, continuing to expect double-digit growth.
Growth Strategy
Pursuing medium- to long-term growth through three pillars: aggressive store openings in the United States, development of new business formats, and improvement of the earnings structure
Continuing to open stores in the U.S. market, where high investment efficiency has been confirmed. In FY2026 (ending March 2026), 2 stores were added, bringing the total to 59 stores. The Company will continue to promote aggressive store openings while assessing investment efficiency within the Group and conditions in the U.S. market, aiming for further expansion of revenue, which stood at ¥79,662 million.
A new business format that leverages the operational know-how developed through the U.S. expansion of complex entertainment facilities to offer Japanese cuisine in major U.S. cities. The aim is to bring the highest-rated Japanese food quality achieved domestically to markets around the world. As of FY2026 (ending March 2026), the project is in the preparation stage, with efforts toward commercialization ongoing.
Limited-time collaboration campaigns with artists, games, and anime content have been held simultaneously in Japan and the United States to attract new customers. The Company is promoting in-house development of original prizes as well as joint development with creators, aiming for continuous improvement in Amusement (Crane Games) revenue. Strategic price increases are also being combined with these efforts to improve average spending per customer.
Focus is on establishing a profitable earnings structure under the 3-store network in Guangzhou and Shenzhen (the first amusement-specialty store in China opened in Shenzhen in April 2025). The Company continues to consider new candidate regions for store openings beyond the United States and China, promoting global diversification of store locations while taking geopolitical risks into account.
Last updated: July 19, 2026