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Kyowa Corporation

Kyowa Corporation operates amusement facilities under the 'APINA' brand, primarily in Nagano Prefecture and expanding across Japan including Hokkaido, Tohoku, Kanto, Chubu, Kinki, and Chugoku/Shikoku regions, with 65 directly operated stores as of March 2025. The company also engages in the sale of commercial amusement equipment (arcade game machines) to operators and distributors nationwide, leveraging scale advantages through combined procurement for its own facilities. Additional businesses include management outsourcing of amusement equipment, advertising agency services, store decoration, and toy/novelty product development through its subsidiary Bloom Co., Ltd.

Market Cap
¥25.1B
US$160M
EV
¥26.6B
US$170M
Stock¥4,190▲+2.07%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.7
x
LTM EV/EBIT
11.7
x
LTM PER
17.4
x
LTM PBR
4.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+209.4%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 10, 26Q1 FY2027/03 earnings announced
2Aug 12, 26Q1 earnings: ordinary profit +240% YoY, anniversary shareholder benefit announced
MC → EV Bridge
25.1BUS$160MMarket Cap7.15BUS$45.6M+ Debt5.26BUS$33.5M− Cash0.36BUS$2.32M− Inv. Sec.26.6BUS$170MEV
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Performance & Balance
Revenue 5Y (¥B)
10.4US$66.2M'22/312.4US$79.4M'23/314.6US$93.0M'24/316.7US$107M'25/320.7US$132M'26/3
EBITDA 5Y (¥B)
1.46US$9.28M'22/32.10US$13.4M'23/32.81US$17.9M'24/33.29US$21.0M'25/34.07US$26.0M'26/3
Net Income 5Y (¥B)
0.13US$0.82M'22/30.43US$2.76M'23/30.65US$4.12M'24/30.92US$5.85M'25/31.12US$7.16M'26/3
Capital Structure
47%
53%
EquityD/E 1.14xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
5.05US$32.2M6.23US$39.7M'22/34.71US$30.0M5.64US$36.0M'23/35.33US$34.0M6.10US$38.9M'24/34.83US$30.8M5.91US$37.7M'25/35.40US$34.4M6.64US$42.3M'26/3
Shareholders
Top 10 hold 72.2%
1
Yuumi Corporation Co., Ltd.
42.90%
2
Sanae MIYAMOTO
11.09%
3
Kazuhiko MIYAMOTO
5.83%
4
Kyowa Corporation Employee Stock Ownership Association
4.31%
5
Tomohiro YOSHIDA
3.05%
6
Nagano Shinkin Bank
1.67%
7
Kenshi HAMAMOTO
1.27%
8
Takanori SAKURAI
0.73%
9
Hisashi KATAOKA
0.70%
10
Hikaru KOBAYASHI
0.67%
Management
7 officers
Kazuhiko MIYAMOTO
Representative Director, President
Apr 1976 Joined Kibun Daisho Co., Ltd. Apr 1979 Joined Otake Shoten Apr 1980 Joined World Co., Ltd. Jan 1982 Founded Kyowa Leisure System May 1986 Managing Director, Kyowa Leisure System Co., Ltd. (now the Company) Dec 1988 Representative Director, President, the Company Jun 2022 Representative Director, President, Bloom Co., Ltd. (current) Jun 2022 Representative Director, President, the Company; in charge of Advertising Sales, Operations and Internal Audit; overseeing Sales HQ, Tokyo Branch and Internal Control Office Nov 2023 Representative Director, President, the Company; in charge of Advertising Sales and Operations; overseeing Sales HQ, Tokyo Branch and Internal Audit Jun 2024 Representative Director, President, the Company; in charge of Advertising Sales and Operations; overseeing Tokyo Branch and Internal Audit Apr 2025 Representative Director, President and Head of Sales HQ, the Company; in charge of Advertising Sales; overseeing Tokyo Branch and Internal Audit Jun 2025 Representative Director, President and Head of Sales HQ, the Company; in charge of Advertising Sales and Internal Audit; overseeing Tokyo Branch Apr 2026 Representative Director, President and Head of Sales HQ, the Company; in charge of Advertising Sales, TCG Sales, CS Promotion Office and Internal Audit; overseeing Tokyo Branch (current)
1955-04-14
Sanae MIYAMOTO
Managing Director
Apr 1976 Joined First Car Center Co., Ltd. Nov 1980 Joined Ueshima Chokin Kyoshitsu (metal engraving class) Jan 1982 Co-founded Kyowa Leisure System May 1986 Representative Director, President, Kyowa Leisure System Co., Ltd. (now the Company) Dec 1988 Director, General Manager of General Affairs Department, the Company Apr 2009 Director, General Manager of Personnel Department, the Company Apr 2017 Managing Director, in charge of Personnel Department, the Company Jun 2018 Managing Director, in charge of Personnel and Operations Departments, the Company Apr 2021 Managing Director, in charge of Information Systems Department; overseeing Personnel and General Affairs, the Company Jun 2023 Managing Director, in charge of Information Systems Department, the Company Jun 2024 Managing Director, overseeing Accounting Department and Corporate Planning Office, the Company Apr 2025 Managing Director, in charge of Operations Department; overseeing Accounting Department and Corporate Planning Office, the Company (current)
1957-06-24
Takanori SAKURAI
Director, General Manager of Personnel and General Affairs Department
Apr 1996 Joined Amenities Co., Ltd. Sep 2003 Registered as Certified Social Insurance and Labor Consultant Feb 2006 Joined the Company Oct 2011 General Manager of Personnel Department, the Company Apr 2016 Executive Officer, General Manager of Personnel Department, the Company Apr 2021 Executive Officer, General Manager of Personnel and General Affairs Department, the Company Sep 2021 Director, Bloom Co., Ltd. (current) Jun 2023 Director, General Manager of Personnel and General Affairs Department, the Company Jun 2024 Director, General Manager of Personnel and General Affairs Department, the Company; in charge of Information Systems Department (current) Feb 2026 Director, Doraku Co., Ltd. (current)
1974-02-19
Tadashi NAGAO
Director, General Manager of Development HQ and General Manager of Store Development Department
Apr 1998 Joined Joshin Denki Co., Ltd. Jan 2001 Joined Capcom Co., Ltd. Jan 2011 Joined Yaizu Mimatsu Co., Ltd. Mar 2015 Joined YAZ Amusement Co., Ltd. Apr 2017 Joined the Company; Executive Officer, Deputy General Manager of Sales HQ Apr 2018 Executive Officer, Deputy General Manager of Sales HQ and General Manager of Store Development Department, the Company Apr 2019 Senior Executive Officer, General Manager of Sales HQ and General Manager of Store Development Department, the Company Sep 2021 Director, Bloom Co., Ltd. (current) Jun 2024 Director, General Manager of Sales HQ and General Manager of Store Development Department, the Company Apr 2025 Director, General Manager of Development HQ and General Manager of Store Development Department, the Company (current)
1975-09-18
Kiyoshi SERIZAWA
Full-time Director, Audit and Supervisory Committee Member
Apr 1978 Joined Chugai Pharmaceutical Co., Ltd. Oct 2001 Audit & Supervisory Board Member, Nagano Pipe Industry Co., Ltd. Oct 2009 General Manager of Internal Audit Department, Chugai Pharmaceutical Co., Ltd. Jun 2019 Director (Audit and Supervisory Committee Member), the Company (current) Jun 2025 Audit & Supervisory Board Member, Bloom Co., Ltd. (current) Feb 2026 Audit & Supervisory Board Member, Doraku Co., Ltd. (current)
1956-03-26
Toshiya OKAMOTO
Director, Audit and Supervisory Committee Member
Jul 1985 Joined TDC Software Engineering Co., Ltd. Jan 1997 Joined Business Brain Ota Showa Co., Ltd. Oct 1997 Joined Chuo Audit Corporation Mar 2000 Registered as Certified Public Accountant Sep 2000 Opened Okamoto Certified Public Accountant Office (now Okamoto Accounting Office) (current) Mar 2015 Outside Director, Doboku Kanri Sogo Shikenjo Co., Ltd. (current) Jul 2015 Representative Director, E-Plus Co., Ltd. (current) Mar 2016 Director, Keiz Co., Ltd. Jun 2017 Director (Audit and Supervisory Committee Member), the Company (current)
1960-08-24
Mika NAKAJIMA
Director, Audit and Supervisory Committee Member
Apr 1996 Registered as Attorney-at-law Apr 1996 Joined Tosaki Law Office Apr 1999 Joined Nakajima Law Office (now Nakajima Tomofumi & Mika Law Office) (current) Apr 2019 Vice President, Nagano Bar Association Jun 2019 Director (Audit and Supervisory Committee Member), the Company (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member), Maruichi Sangyo Co., Ltd. (current)
1964-12-06
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-10
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-12
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-10
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-09
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-15
Quarterly Securities Report
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