ENVALITH
フリュー株式会社 logo

FURYU CORPORATION

6238・Prime Market・Machinery

Official website
フリュー株式会社 logo
FURYU CORPORATION6238

Business

FURYU Corporation is an integrated entertainment company that, under its corporate philosophy of "Creating high-quality entertainment that enriches and brings happiness to people's hearts!", primarily targets young women. Its business is composed of three segments: the Sekaikan Business (Crane Game Prizes, hobby products, overseas merchandise), the Girls Trend Business (Print Sticker Machines (Purikura), PiCTLINK), and FURYU New Business (Home Video Game Software, anime). The company originated in 1997 within Omron Corporation as the Print Sticker Business, and became independent following an MBO in 2007. It listed on the First Section of the Tokyo Stock Exchange in 2015 and transitioned to the Prime Market in 2022. The group conducts business including three consolidated subsidiaries: Ordot Inc., FURYU of America, Inc., and FURYU Pictures Co., Ltd.

Business Model

In the Sekaikan Business, the company plans Crane Game Prizes and hobby products utilizing licensed character IP, outsources manufacturing, and controls costs through direct transactions that bypass trading companies. In the Girls Trend Business, in addition to sales and rental of Print Sticker Machine (Purikura) units and sticker paper, the company earns recurring revenue through paid membership fees for PiCTLINK, a digital delivery service for captured images. In FURYU New Business, the company earns revenue from Home Video Game Software sales and from distribution payments and fee income through participation in and management of anime production committees. The structure is fabless, without in-house factories, keeping fixed costs low while using communication modules to collect data that drives a product improvement cycle.

Company Strengths

Print Sticker Machines connect to a data server via a communication module, collecting captured image data and operational status. By combining quantitative marketing with qualitative interviews, the company has built a system for continuously launching new models that meet the needs of target demographics. Data-driven product development, including the "YOUTH MY PALETTE" released in November 2025, supports differentiation from competitors.

In the Sekaikan Business, the company centers its operations on direct transactions, minimizing the involvement of intermediary distributors such as trading companies, thereby thoroughly managing costs by reducing intermediary margins. It has also internalized quality control by conducting on-site inspections of contract manufacturers, initial product inspections, and domestic inspections. Sekaikan Business revenue for FY2026 (ending March 2026) continued to expand, reaching ¥27,707 million (109.3% year on year).

PiCTLINK is a service for digitally acquiring and viewing captured Print Sticker images, with 1.27 million paid members as of the end of March 2026. Following the consolidation into a single Premium membership plan in July 2025, profitability improved. Within the existing businesses, Girls Trend Business operating profit rose to ¥3,985 million (from ¥3,249 million in the previous period), with the recurring subscription model supporting the profit base.

ENVALITH's Perspective

In FY2026 (ending March 2026), the Sekaikan Business showed a robust recovery, with net sales of ¥27,707 million (109.3% year-on-year) and operating income of ¥2,337 million (132.1% year-on-year). Overseas Merchandise Business sales to China, the US, and Europe grew in both net sales and operating income, as the policy of concentrating resources on North America and China and acquiring local IP is bearing fruit. External factors such as risks from US trade policy and cost increases stemming from higher crude oil prices remain concerns, but the use of forward foreign exchange contracts has curbed the impact on cost of sales.

Total Print Sticker Machine (Purikura) play count continued to decline, reaching 27.87 million from 29.57 million in the previous period, and the structural issue of a shift in the starting age of users triggered by the COVID-19 pandemic has not been resolved. Paid PiCTLINK members also declined from 1.37 million to 1.27 million. On the other hand, operating income rose to 114.0% year-on-year, securing an increase in profit through unit price improvement from the unification of premium membership and cost efficiency gains. Whether the plan to recover play counts to approximately 32 million in FY2027 (ending March 2027) is achieved will determine the evaluation of this segment.

FURYU New Business posted net sales of ¥2,672 million (64.4% year-on-year) and an operating loss of ¥454 million, widening from a loss of ¥430 million in the previous period. The main cause was an increase in software depreciation expenses for Home Video Game Software, which offset the effect of streamlining unprofitable operations through the transfer of the colored contact lens business and the discontinuation of game apps. Segment assets stood at ¥3,158 million, disproportionately large relative to the company as a whole, and will remain a constraint on improving company-wide ROE until the outlook for investment recovery becomes clear.

Growth Strategy

Aiming for ROE of 15% in FY2028 (ending March 2028) through overseas expansion of the Sekaikan Business, renewed growth in the Girls Trend Business, and profitability of New Business

Concentrating resources on North America and China as priority regions, promoting IP acquisition and new sales channel development tailored to each destination country. Leveraging the U.S. local sales structure of FURYU of America, Inc., we expect sales growth in FY2027 (ending March 2027) to exceed that of the current fiscal year.

Achieved a significant business profit surplus in FY2026 (ending March 2026). While continuing to promote merchandising of popular IP, we will maintain profitability-focused business operations, and expect both sales and profit to increase in FY2027 (ending March 2027).

Continuing to roll out 30th anniversary campaigns such as "DEAR Reiwa & Heisei: Uchira no Densetsu Puri," combined with the launch of the new machine model "YOUTH MY PALETTE," aiming to recover annual total play count to approximately 32 million plays (114.8% year-on-year) in FY2027 (ending March 2027).

In July 2025, the service was unified into the Premium membership plan, standardizing service level and pricing. The profitability improvement effect has taken hold, and we expect the number of paid members to increase to 1.29 million at the end of March 2027 (versus 1.27 million at the end of the previous fiscal year).

Launching "SUKELU factory," a machine dedicated to fan-support (oshi-katsu) activities, domestically to capture new customer segments, while making a full-scale entry into the Chinese market with photo machines leveraging character IP, based at a Chinese subsidiary scheduled to be established in June 2026.

Building an integrated production structure combining planning, development, and promotion to strengthen the commercial appeal of original titles. Promoting the revitalization of sales of older titles through ports to next-generation hardware and expanding global sales, aiming to reduce losses at FURYU New Business.

Specializing the Anime Business through FURYU Pictures Inc. (consolidated from FY2026, ending March 2026). In FY2026, we will work to secure reliable profitability for two flagship titles ("Let's Go Kaikigumi" and "Yukyu no Gusha Azuri no, Kenja no Susume"), and promote the full-scale launch of the anime production contracting business that began in FY2025.

Last updated: July 19, 2026