Overview
Machinery

Gamecard Holdings,Inc.

Game Card Holdings Co., Ltd. operates a prepaid card system business for pachinko amusement arcades through its consolidated subsidiary, Japan Game Card Co., Ltd. The company provides a comprehensive suite of products and services including card units (IC card-compatible ball-lending machines), card issuance/settlement machines, IC cards and IC coins, system usage fees, and installation/maintenance services. Its primary revenue model is based on third-party-issued prepaid card systems, collecting information management fees from member establishments based on player spending, alongside equipment sales and recurring system usage fees.

Market Cap
¥37.2B
US$237M
EV
¥-14.4B
-US$92.0M
Stock¥2,651▼-2.96%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
12.4
x
LTM PBR
0.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-33.7%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
37.2BUS$237MMarket Cap0.37BUS$2.37M+ Debt12.2BUS$77.9M− Cash39.8BUS$254M− Inv. Sec.-14.4B-US$92.0MEV
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Performance & Balance
Revenue 5Y (¥B)
11.4US$73.0M'22/321.7US$138M'23/336.3US$231M'24/337.9US$242M'25/325.4US$162M'26/3
EBITDA 5Y (¥B)
1.84US$11.7M'22/35.14US$32.8M'23/311.3US$71.7M'24/39.68US$61.7M'25/35.10US$32.5M'26/3
Net Income 5Y (¥B)
1.26US$8.05M'22/34.30US$27.4M'23/37.55US$48.2M'24/36.59US$42.0M'25/33.26US$20.8M'26/3
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
12.6US$80.6M0.45US$2.87M'22/317.9US$114M0.38US$2.39M'23/322.8US$145M0.45US$2.89M'24/318.7US$119M0.40US$2.53M'25/324.3US$155M0.37US$2.37M'26/3
Shareholders
Top 10 hold 55.8%
1
SANKYO CO.,LTD.
9.99%
2
MAMIYA-OP CO.,LTD
9.38%
3
JEFFERIES LLC-SPEC CUST AC FBO CUSTOMER (Standing Proxy: Citibank, N.A.)
7.01%
4
Heiwa Corporation
4.36%
5
Kyoraku Sangyo Co., Ltd.
4.36%
6
Sammy Corporation
4.36%
7
Daiichi Shokai Co., Ltd.
4.36%
8
Newgin Co., Ltd.
4.36%
9
FUJISHOJI CO.,LTD.
4.36%
10
Sansei R&D Co., Ltd.
3.30%
Management
8 officers
Satoshi SUZUKI
Representative Director, President
Apr 1991 Joined Ben Hogan Corporation (USA) Jun 2015 Representative Director, President, Mamiya-OP Co., Ltd. Jun 2015 Representative Director, President, F.S. Co., Ltd. Jun 2017 Director of the Company Jun 2022 Director and Vice President, Nihon Game Card Co., Ltd. Jun 2022 Representative Director, President of the Company (current) Apr 2023 Representative Director, President, Nihon Game Card Co., Ltd. (current)
1967-06-07
Akihiko HARA
Director
Apr 1995 Joined Nihon Leisure Card System Co., Ltd. Apr 2020 Executive Officer, Deputy General Manager of Administration Division, Nihon Game Card Co., Ltd. Jun 2021 Director of the Company (current) Jun 2022 Director, Deputy General Manager of Administration Division, Nihon Game Card Co., Ltd. Jun 2023 Director, General Manager of Administration Division, Nihon Game Card Co., Ltd. (current)
1962-01-15
Nobuaki TSUKANO
Director
Jun 1994 Joined Nihon Game Card Co., Ltd. Apr 2002 General Manager, Sales Division No. 2, Nihon Game Card Co., Ltd. Jun 2009 General Manager, Osaka Sales Department, Nihon Game Card Co., Ltd. Apr 2011 Executive Officer, Deputy General Manager of Sales Division, Nihon Game Card Co., Ltd. Feb 2017 Executive Officer, General Manager of Sales Division, Nihon Game Card Co., Ltd. Jun 2020 Director, General Manager of Sales Division, Nihon Game Card Co., Ltd. Jun 2023 Director of the Company (current) Jun 2024 Senior Managing Director, Nihon Game Card Co., Ltd. (current)
1961-09-10
Yoshinori ENOMOTO
Director
Mar 1988 Joined Union Co., Ltd. (now Kyoraku Co., Ltd.) Jun 1996 Representative Director, President, Hackberry Co., Ltd. (now Kyoraku Sangyo Holdings Co., Ltd.) (current) Aug 2006 Representative Director, President, Kyoraku Sangyo Co., Ltd. (current) Jun 2008 Director, Masamura Yuki Co., Ltd. (now OK. Co., Ltd.) (current) Jun 2022 Director of the Company (current) Jun 2025 Director, Nikko Denki Co., Ltd. (current)
1968-09-27
Toshio OGURA
Director
May 1989 Joined SANKYO Co., Ltd. Apr 2012 Executive Officer, General Manager of Intellectual Property Division, SANKYO Co., Ltd. Apr 2015 Managing Executive Officer, General Manager of Intellectual Property Division, SANKYO Co., Ltd. Jun 2015 Representative Director, Japan Pachislot Patent Co., Ltd. Apr 2018 Senior Managing Executive Officer, General Manager of Intellectual Property Division, SANKYO Co., Ltd. Apr 2022 Senior Managing Executive Officer, General Manager of Product Division, SANKYO Co., Ltd. Jun 2024 Director, Senior Managing Executive Officer, General Manager of Product Division, SANKYO Co., Ltd. Jun 2025 Representative Director, Senior Managing Executive Officer, General Manager of Product Division, SANKYO Co., Ltd. Jun 2025 Director of the Company (current) Jun 2025 Representative Director, President, CEO and COO, SANKYO Co., Ltd. (current)
1962-03-12
Satoru HATAYAMA
Full-time Corporate Auditor
Apr 1984 Joined Kyowa Bank, Ltd. Feb 2011 General Manager, Regional Sales Department, Dydo Drinco, Inc. Jan 2012 Executive Officer, Deputy General Manager, Distribution Sales Division, Dydo Drinco, Inc. Feb 2014 Executive Officer, General Manager of Sales Division and in charge of Marketing Division, Tarami Co., Ltd. Jan 2016 Director, General Manager of Sales Division, Tarami Co., Ltd. Feb 2020 Executive Officer, Deputy General Manager, Business Promotion Division, Mamiya-OP Co., Ltd. Jun 2021 Senior Managing Director, F.S. Co., Ltd. Jun 2023 Corporate Auditor of the Company (current)
1960-09-20
Fumitaka HORIUCHI
Corporate Auditor
Apr 1974 Joined the National Police Agency Feb 1988 Chief, Criminal Investigation Department, Aichi Prefectural Police Headquarters Aug 1993 Chief, Shimane Prefectural Police Headquarters Aug 1998 Director, Criminal Investigation Planning Division, National Police Agency Feb 2000 Chief, Niigata Prefectural Police Headquarters Aug 2005 Director-General, Chubu Regional Police Bureau Sep 2006 Special Advisor, Japan Securities Dealers Association Dec 2012 Advisor, AXA Life Insurance Co., Ltd. Jul 2015 Managing Director, Japan Gaming-Related Business Association Nov 2021 Special Advisor, J-NET Co., Ltd. (current) Jun 2023 Corporate Auditor of the Company (current)
1950-09-03
Norihiko TOKEJI
Corporate Auditor
Feb 1995 Joined Hotta Liesenberg Saito LLP (USA) Apr 2001 Representative Director, HLS Global Co., Ltd. (current) Jan 2006 Partner, Hotta Liesenberg Saito LLP (USA) (current) Jun 2014 Corporate Auditor, Nippon Dry Chemical Co., Ltd. (current) Jun 2023 Corporate Auditor of the Company (current)
1969-06-15
Large Shareholding Reports
Rangeley Capital, LLC
2026-06-08
6.05%→7.05%
Sankyo Co., Ltd.
2026-05-21
9.83%→11.09%
Annual report (as of 2026-03-31): 9.99%
Rangeley Capital, LLC
2025-11-12
5.02%→6.05%
Rangeley Capital, LLC
2025-08-27
5.02%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-08
Large Shareholding Report
EDINET
2026-05-21
Large Shareholding Report
TDnet
2026-02-05
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-11-12
Large Shareholding Report
EDINET
2025-08-27
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-20
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-06
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-06-26
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-21
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-08
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-09
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-10-12
Securities Registration Statement
EDINET
2021-08-16
Quarterly Securities Report
EDINET
2021-06-17
Annual Securities Report
EDINET
2021-02-15
Quarterly Securities Report
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