MAMIYA-OP CO.,LTD.
7991・Standard Market・Machinery
Electronic Equipment Business
The Group's largest segment, handling gaming machine peripherals, ticket vending machines, autonomous navigation systems, and more
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (FY2026 (ending March 2026), full year) | ¥15,952 million | ¥26,764 million | ↓ |
| Operating income (FY2026 (ending March 2026), full year) | ¥1,975 million | ¥5,565 million | ↓ |
| Operating margin (FY2026 (ending March 2026), full year) | 12.4% | 20.8% | ↓ |
| Segment assets (end of FY2026 (ending March 2026)) | ¥28,646 million | ¥31,560 million | ↓ |
| Depreciation (FY2026 (ending March 2026), full year) | ¥164 million | ¥231 million | ↓ |
Business Details
Develops, manufactures, and sells gaming machine-related equipment (Smart Gaming Machine Units / Bill Validators), LCD compact ticket vending machines (VMT620 Series), autonomous navigation systems for golf courses (I-GINS), mobile ordering systems (CHUUMO), and system solutions (AI development/contract development), among others. Main customers are Nippon Game Card Co., Ltd. and MDI Co., Ltd. This core segment accounted for approximately 76% of consolidated net sales for FY2026 (ending March 2026).
Recent Overview
Net sales and operating income both fell sharply due to the winding down of banknote redesign-related demand
For FY2026 (ending March 2026) full year, the Electronic Equipment Business segment recorded net sales of ¥15,952 million (down 40.4% year on year) and operating income of ¥1,975 million (down 64.5% year on year). The main cause was the winding down of banknote redesign-related demand seen in the prior period. While Smart Gaming Machine Units performed steadily, I-GINS was weak due to the impact of addressing vehicle body defects. Meanwhile, System Solutions and CHUUMO grew on the back of increased contract wins.
Key Products
Growth Drivers
- Continued increase in demand for Smart Gaming Machine Units driven by the expanding installed base of smart gaming machines
- Sales promotion from registration of the VMT620 Series LCD Compact Ticket Vending Machine as an eligible product under the SME labor-saving investment subsidy program
- Expansion of orders for System Solutions projects, including those utilizing AI
- Strengthening of sales channels for the CHUUMO Mobile Ordering System through distributor development
- Expansion of I-GINS functionality (enhanced autonomous navigation capability) and development of maintenance support systems
Risks
- Significant decline in net sales due to the winding down of banknote redesign-related demand (down 40.4% year on year for FY2026 (ending March 2026) full year)
- Structural contraction in demand for gaming machine peripherals due to the long-term declining trend in the number of pachinko hall locations
- Slowdown in peripheral equipment demand as the pace of replacement to smart gaming machines settles down (per company forecast for FY2027 (ending March 2027))
- Difficulty in formulating independent business plans due to an OEM-centered business structure
- Rising costs due to soaring prices of raw materials such as semiconductors, copper, and resin, and yen depreciation
- Risk of having to address product defects in I-GINS, and rising vehicle and parts costs
- Structural changes in the ticket vending machine market due to the rise of cloud-based vending machines and the spread of cashless payments
Last updated: July 8, 2026