FURYU Corporation (6238): FY2025 Results Summary — Operating Profit Up 48.1% on SEKAIKAN Growth and Photo Sticker Price Standardization

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: FURYU labels the fiscal year covered by this presentation “FY3/2026” (the fiscal year ended March 2026); this article uses the site convention “FY2025” in the title and slug only, and keeps the company’s own year labels in the text, tables and segment data.

FURYU Corporation reported consolidated net sales of 44,767 million yen for the fiscal year ended March 2026, or 101.0% of the prior year, with operating profit of 3,315 million yen (148.1% year on year). The company attributes the result to strong performance in the SEKAIKAN Business together with price standardization in the photo sticker business. Ordinary profit was 3,302 million yen (144.8%) and profit attributable to owners of parent was 2,060 million yen (126.6%). For FY3/2027 the company forecasts net sales of 48,000 million yen and operating profit of 4,000 million yen.

Consolidated Results (Full-Year Actual)

On a 4Q cumulative basis, net sales rose to 44,767 million yen from 44,305 million yen, while operating profit increased to 3,315 million yen from 2,239 million yen. The materials describe the drivers as strong performance in the SEKAIKAN Business, together with price standardization, which drove both revenue growth and a significant increase in profits. In the fourth quarter alone (January–March), net sales were 12,112 million yen (113.9%) and operating profit was 403 million yen (217.4%), although profit attributable to owners of parent for the quarter was 188 million yen (84.9%).

Item (Unit: million yen)	FY3/2025	FY3/2026	%
Net sales	44,305	44,767	101.0%
Operating profit	2,239	3,315	148.1%
Ordinary profit	2,280	3,302	144.8%
Profit attributable to owners of parent	1,627	2,060	126.6%

Segment Results

The SEKAIKAN Business posted net sales of 27,707 million yen (109.3%) and operating profit of 2,337 million yen (132.1%), driven by strong overseas product sales and expensive hobby goods. The GIRLS Trend Business recorded net sales of 14,388 million yen (97.1%) and operating profit of 3,589 million yen (114.0%): although both the number of plays and the number of members decreased, profit increased due to price unification. The FURYU New Business posted net sales of 2,672 million yen (64.4%) and an operating loss of ▲454 million yen, reflecting a one-time loss from software amortization for console games and related items.

Segment	Metric	FY3/2025	FY3/2026	%
SEKAIKAN Business	Net sales	25,338	27,707	109.3%
SEKAIKAN Business	Operating profit	1,768	2,337	132.1%
GIRLS Trend Business	Net sales	14,818	14,388	97.1%
GIRLS Trend Business	Operating profit	3,147	3,589	114.0%
FURYU New Business	Net sales	4,148	2,672	64.4%
FURYU New Business	Operating profit	▲430	▲454	–
Company-wide costs	Operating profit	▲2,246	▲2,156	–

Within the SEKAIKAN Business, arcade prizes were 19,624 million yen (105.4%), overseas product sales 3,620 million yen (137.5%), expensive hobby goods 2,867 million yen (112.5%) and lottery 1,593 million yen (103.3%). The materials note that overseas sales expanded in North America and Hong Kong while China was slightly sluggish, with a sales breakdown of China 20%, North America 30% and Asia (excluding China) 30%. The average remittance rate at the time of purchase was 150.1 yen per USD for the full year, against 150.3 yen in the prior year. Within the GIRLS Trend Business, PiCTLINK grew to 6,822 million yen (110.3%) while photo sticker sales in amusement arcades declined to 6,116 million yen (87.7%).

Segment / Category	FY3/2025	FY3/2026	%
SEKAIKAN: Arcade prizes	18,614	19,624	105.4%
SEKAIKAN: Overseas product sales	2,632	3,620	137.5%
SEKAIKAN: Expensive hobby goods	2,549	2,867	112.5%
SEKAIKAN: Lottery	1,542	1,593	103.3%
GIRLS Trend: Photo sticker – Amusement arcades	6,974	6,116	87.7%
GIRLS Trend: Photo sticker – directly managed shops	1,266	1,160	91.6%
GIRLS Trend: PiCTLINK	6,184	6,822	110.3%
GIRLS Trend: Other	323	251	77.6%
GIRLS Trend: GTB new business	70	38	54.3%
FURYU New Business: Console game software	1,458	1,267	86.9%
FURYU New Business: Anime	1,087	953	87.6%
FURYU New Business: Colored contact lenses	892	0	–
FURYU New Business: Other	710	452	63.7%

In the GIRLS Trend Business, the number of games played was 2,786 (10,000) for the full year against 2,957 in the prior year (94.2%). The company states that of 1.27 million paid PiCTLINK members, 1.25 million have transitioned to premium membership, putting progress of price standardization at approximately 98%, and that free junior high school membership exceeded 300,000. The number of directly managed shops was 34 as of March 2026, with sales decreasing due to the closure of unprofitable stores. In the FURYU New Business, the materials disclose an additional 217 million yen in software amortization (one-time) for console game software and a 140 million yen allowance for doubtful accounts (one-time) in the anime business; the colored contact lens business was transferred in March 2025 and is listed for comparison purposes only.

FY3/2027 Forecast

For FY3/2027 the company plans revenue and profit growth toward achieving its Medium-term Vision, forecasting net sales of 48,000 million yen (107.2% of FY3/2026), operating profit of 4,000 million yen (120.6%), ordinary profit of 4,000 million yen (121.1%) and profit attributable to owners of parent of 2,500 million yen (121.4%).

Item (Unit: million yen)	FY3/2026 Actual	FY3/2027 Forecast	Compared to FY3/2026
Net sales	44,767	48,000	107.2%
SEKAIKAN Business	27,707	29,000	104.7%
GIRLS Trend Business	14,388	16,000	111.2%
FURYU New Business	2,672	3,000	112.3%
Operating profit	3,315	4,000	120.6%
SEKAIKAN Business	2,337	2,800	119.8%
GIRLS Trend Business	3,589	3,800	105.9%
FURYU New Business	▲454	▲200	−
Company-wide costs	▲2,156	▲2,400	−
Ordinary profit	3,302	4,000	121.1%
Profit attributable to owners of parent	2,060	2,500	121.4%

Shareholder Returns

The dividend for FY3/2026 was raised: an initial estimate of 39 yen per share was upwardly revised to 40 yen per share. The company presents total shareholders return for the year as 31.5%, comprising a capital gain of 27.4% (965 yen at 3/2025 and 1,229 yen at 3/2026) and an income gain of 4.1% (annual dividend of 40 yen divided by 965 yen at 3/2025). A dividend forecast for FY3/2027 cannot be confirmed from the materials.

Business Portfolio and Strategy

The presentation shows how the business portfolio has shifted over ten years: net sales were 24,167 million yen in FY3/2016 and 44,767 million yen in FY3/2026, with the SEKAIKAN Business growing from 5.3 billion yen to 27.7 billion yen. By share of net sales, FY3/2016 was GIRLS Trend Business 67.5%, SEKAIKAN Business 22.3%, FURYU New Business 7.2% and Others 3.0%, while FY3/2026 was SEKAIKAN Business 61.9%, GIRLS Trend Business 32.1% and FURYU New Business 6.0% (the materials note that FY3/2016 segments differ from the current scheme, with GIRLS Trend figures a simple sum of Photo Sticker and Content Media). The company describes its growth strategy framework as transforming into a company that can compete globally by leveraging IP acquisition, photo sticker and kawaii, citing photo sticker machines and adjacent businesses at roughly 90% share and arcade prizes at No. 2 share in the industry, while supplementing weaknesses in marketing, branding and overseas know-how through partnerships.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.