Fast Fitness Japan Incorporated
7092・Prime Market・Services
Fitness Club Operation Business (Fast Fitness Japan Single Segment)
Master franchise business for a 24-hour fitness gym centered on the Domestic Anytime Fitness Business
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3, FY2026 (ending March 2026)) | ¥15,392 million | ¥13,288 million (same period prior year) | ↑ |
| Operating profit (cumulative Q3, FY2026 (ending March 2026)) | ¥3,304 million | ¥2,443 million (same period prior year) | ↑ |
| EBITDA (cumulative Q3, FY2026 (ending March 2026)) | ¥4,173 million | ¥3,208 million (same period prior year) | ↑ |
| Ordinary profit (cumulative Q3, FY2026 (ending March 2026)) | ¥3,285 million | ¥2,482 million (same period prior year) | ↑ |
| Quarterly net profit attributable to owners of the parent (cumulative Q3, FY2026 (ending March 2026)) | ¥1,953 million | ¥1,471 million (same period prior year) | ↑ |
| Operating margin (cumulative Q3, FY2026 (ending March 2026)) | 21.5% | 18.4% (same period prior year) | ↑ |
| Number of Domestic Anytime Fitness stores (end of December 2025) | 1,235 stores (189 directly-operated, 1,046 FC) | 1,194 stores (184 directly-operated, 1,010 FC) (end of March 2025) | ↑ |
| Number of Domestic Anytime Fitness members (end of December 2025) | 1.089 million (0.152 million directly-operated, 0.937 million FC) | 0.974 million (end of March 2025) | ↑ |
| Average membership per store (end of December 2025) | 882 members | 798 members (same month prior year) | ↑ |
| Total assets (end of December 2025) | ¥23,073 million | ¥21,926 million (end of March 2025) | ↑ |
| Equity ratio (end of December 2025) | 65.2% | 63.4% (end of March 2025) | ↑ |
| Quarterly net profit per share (cumulative Q3, FY2026 (ending March 2026)) | ¥104.18 | ¥78.54 (same period prior year) | ↑ |
Business Details
As the Japanese master franchisee of the US-originated "Anytime Fitness," the company operates across all 47 prefectures nationwide through both directly-operated and franchise (FC) stores. It has four key features: 24-hour operation, machine-gym specialization, low pricing, and worldwide usable membership. Revenue sources are centered on fixed royalty income from FC stores and membership fee income from directly-operated stores. The company is nurturing overseas operations (Germany, Singapore), the new brand "The Bar Method," and the EC & Merchandise Business "A PROP" as its next growth drivers.
Recent Overview
Both net sales and operating profit achieved double-digit growth, with membership expanding to 1.089 million and store count reaching 1,235
For the cumulative nine months of FY2026 (ending March 2026) (April to December 2025), net sales were ¥15,392 million (up 15.8% year-on-year) and operating profit was ¥3,304 million (up 35.2% year-on-year), representing substantial profit growth. Membership surpassed 1 million in May 2025 and store count surpassed 1,200 in June, reaching 1.089 million members and 1,235 stores by the end of December. In November 2025, the company made Best Life Co., Ltd. (now Best Fitness) a wholly-owned subsidiary for ¥1,132 million, acquiring 7 stores. Following the success of the tender offer associated with the MBO, the company plans to delist on April 20, 2026, and therefore full-year earnings forecasts have not been disclosed.
Key Products
Growth Drivers
- Expansion of Domestic Anytime Fitness membership (1.089 million as of end of December 2025, up 152 thousand year-on-year) and increase in average membership per store (882, up 84 year-on-year)
- Large-scale nationwide promotions (June-July and December-January) leveraging the scale merit of nationwide deployment across all 47 prefectures, driving brand penetration and new member acquisition
- Accumulation of fixed royalty income through continued net increase in FC stores (1,046 FC stores as of end of December 2025)
- Expansion of the directly-operated store network and improved operational efficiency through making Best Fitness Co., Ltd. (formerly Best Life) a wholly-owned subsidiary (acquisition cost of ¥1,132 million)
- Overall market expansion driven by rising fitness participation rates in Japan (4.48% in 2023 to 5.02% in 2024)
- Strategic investment in new growth areas: overseas operations (Germany, Singapore), The Bar Method, and the EC & Merchandise Business "A PROP"
Risks
- Scheduled delisting on April 20, 2026 following the success of the tender offer associated with the MBO (full-year earnings forecast undisclosed, share consolidation ratio of 4,554,450 shares into 1 share)
- Risk of delayed monetization in overseas operations (Germany) due to delays in obtaining local government approvals such as building permits and burden of initial investment
- Risk of declining profit margin due to upfront increases in fixed costs (labor costs, rent) associated with opening directly-operated stores
- Rising member acquisition costs due to intensifying competition with competitors (low-price 24-hour fitness gyms)
- Risk of downturn in consumer sentiment due to sustained high raw material and energy prices and rising cost of living
- Risk of impairment losses related to stores where the period to earnings improvement is expected to be prolonged
- Risk of amortization burden of goodwill of ¥751 million (provisional value) related to the acquisition of Best Fitness Co., Ltd. and risk from undetermined purchase price allocation
Last updated: June 23, 2025