FUJISHOJI CO.,LTD.
6257・Standard Market・Machinery
Gaming Machine Business (Single Segment)
A single-business company engaged in the development, manufacturing, and sales of pachinko and pachislot gaming machines
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (consolidated, full year) | ¥23,542 million (FY2026, ending March 2026) | ¥34,597 million (FY2025, ended March 2025) | ↓ |
| Operating income (consolidated, full year) | ¥(3,902) million (FY2026, ending March 2026) | ¥3,192 million (FY2025, ended March 2025) | ↓ |
| Ordinary income (consolidated, full year) | ¥(3,711) million (FY2026, ending March 2026) | ¥3,406 million (FY2025, ended March 2025) | ↓ |
| Profit attributable to owners of parent (consolidated, full year) | ¥(2,083) million (FY2026, ending March 2026) | ¥2,568 million (FY2025, ended March 2025) | ↓ |
| Pachinko Gaming Machines unit sales (consolidated, full year) | 42 thousand units (FY2026, ending March 2026) | 74 thousand units (FY2025, ended March 2025) | ↓ |
| Pachislot Gaming Machines unit sales (consolidated, full year) | 13 thousand units (FY2026, ending March 2026) | 17 thousand units (FY2025, ended March 2025) | ↓ |
| Equity ratio | 90.0% (end of FY2026, ending March 2026) | 88.0% (end of FY2025, ended March 2025) | ↑ |
| Operating margin | (16.6)% (FY2026, ending March 2026) | 9.2% (FY2025, ended March 2025) | ↓ |
| Cash and cash equivalents at period end | ¥15,815 million (end of FY2026, ending March 2026) | ¥21,551 million (end of FY2025, ended March 2025) | ↓ |
| Net assets per share | ¥2,051.93 (end of FY2026, ending March 2026) | ¥2,237.46 (end of FY2025, ended March 2025) | ↓ |
Business Details
The Fuji Shoji Group is a gaming machine specialist manufacturer whose principal business is the development, manufacturing, and sale of Pachinko Gaming Machines and Pachislot Gaming Machines (Smart Pachislot). The company sells only in the domestic market, with pachinko halls as its primary customers. It has set "enhancing brand strength" and "human resource development" as its top-priority issues, and its basic management policy is to secure stable unit sales through the development of machines with a distinctive "different flavor." The Group consists of a single segment, the Gaming Machine Business.
Recent Overview
In FY2026 (ending March 2026), unit sales fell short of plan at 55 thousand units, with net sales down 32% and an operating loss of ¥3,902 million
In FY2026 (ending March 2026), several models, including new titles, fell short of planned unit sales, and the sale of one Pachislot Gaming Machine model was postponed, resulting in total unit sales of 55 thousand units (42 thousand pachinko units and 13 thousand pachislot units), below the initial plan. Net sales came to ¥23,542 million (down 32.0% year on year), and the company posted an operating loss of ¥3,902 million (versus operating income of ¥3,192 million in the prior period), a significant deterioration in performance. Selling, general and administrative expenses increased to ¥15,976 million from ¥14,470 million in the prior period, raising the SG&A-to-sales ratio to 67.9%. On the other hand, the company recorded a gain on sale of investment securities of ¥1,753 million as extraordinary income, limiting the net loss for the period to ¥2,083 million. For FY2027 (ending March 2027), the company forecasts net sales of ¥39,500 million (up 67.8% year on year) and a recovery to operating income of ¥3,000 million. The annual dividend was set at ¥50 (a decrease from ¥55 in the prior period), and for FY2027 (ending March 2027) the company forecasts a total dividend of ¥55, comprising an ordinary dividend of ¥25 plus a commemorative dividend of ¥5.
Key Products
Growth Drivers
- Market revitalization driven by the full-scale rollout of Pachinko Gaming Machines models equipped with "Lucky Trigger 3.0 Plus"
- Solid trend in demand for new unit sales driven by the promotion and spread of Smart Pachislot
- Policy of increasing the number of Pachislot Gaming Machines models launched in FY2027 (ending March 2027) compared with the prior period to secure unit sales
- Multiple models, including "e Megami no Cafeteria," boosting market operation and contributing to overall market revitalization
- Differentiated sales of Pachinko Gaming Machines leveraging the company's proprietary features "BIG Start," "Yakumono Furiwake Ki," and "SS Route" as strengths
- Strengthening of the brand based on the "Fan First" values in connection with the company's 60th anniversary in October 2026
Risks
- Risk of significant fluctuations in net sales due to new titles falling short of planned unit sales and sales postponements (total unit sales of 55 thousand units in FY2026, ending March 2026, below plan)
- Increased fixed cost burden and a higher break-even point due to elevated selling, general and administrative expenses (¥15,976 million in FY2026, ending March 2026)
- Risk of fluctuation in the cost of sales ratio (48.7% in FY2026, ending March 2026)
- Reduced financial flexibility due to a decline in cash and cash equivalents (from ¥21,551 million at the end of the prior period to ¥15,815 million at the end of the current period)
- Uncertainty regarding launch timing and unit sales due to the status of gaming machine model testing and approval
- Risk of market contraction due to oligopolization by major operators and a gradual decrease in the number of halls and total installed units
- Impact on industry demand from macroeconomic risks such as U.S. trade policy, price increases, and financial and capital market volatility
- Risk of tighter regulation due to growing social concern over gambling addiction in connection with online casino countermeasures and the opening of the Osaka IR
Last updated: June 25, 2026