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Axell (6730) · RiskDecline in annual new machine unit sales and signs of an overall market slowdownLatest Revision of earnings forecasts (2026-09-28): "Mitigated"

Shrinking Pachinko and Pachislot Machine Market and Industry Self-Regulation

First written in FY2016. 12 of 38 entries say "Restated". Latest entry: 2026-09-28.

38entries
11years
4from disclosures
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How it moved
ProgressHeldSoftenedWorseMaterialisedFY2017-Q3 – FY2019-Q1RestatedFY2019-Q2 – FY2020-Q3RestatedFY2021-Q3 – FY2023-Q3OtherFY2024-Q3 – FY2026-H12016: 320162017: 420172018: 420182019: 320192020: 420202021: 320212022: 420222023: 320232024: 320242025: 220252026: 52026
Same theme, other companies
Industry Self-Regulation in the Amusement MarketA theme 4 companies write about · 4 as a headwind · 0 as a tailwind

Axell moved to the "Worse" side of this theme in 2016.

1 other company's latest entry also says "Mitigated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-09-28MitigatedRevision of earnings forecasts

    「The market size, initially assumed to be 1.35 million units, referring to annual sales of new pachinko and pachislot machines, is expected to expand to 1.45 million units」

    The outlook for annual sales of new pachinko and pachislot machines has expanded from the initial assumption, temporarily weakening the outlook for market contraction.
  2. FY2026Decline in annual new machine unit sales and signs of an overall market slowdownAnnual report

    「Annual sales of new pachinko and pachislot machines, an indicator of our market size, are estimated to have been approximately 1.48 million units, compared with 1.53 million units in the previous fiscal year.」

    Although migration to smart machines progressed, the overall market showed signs of slowing, and annual new-machine sales declined from 1.53 million units to approximately 1.48 million units.
  3. FY2026-H1Overall stability as smart machines gain adoption, slower pachislot expansion and firmness in pachinko.Annual report

    「The pachinko and pachislot machine market, our Group's core market, has remained stable overall as smart machines have gained wider adoption. In the pachislot machine market, the pace of migration to smart slots has slowed, and the market has begun to show signs of slower expansion. Meanwhile, in the pachinko machine market, machines incorporating new rules exclusive to smart pachinko continue to be introduced, and the market remains firm.」

    While stating that the overall market is stable, it explicitly notes the slower pace of migration to smart slots and signs of slower market expansion, while explaining that the pachinko machine market remains firm.
  4. FY2025Annual sales volumes declined, with pachislot slowing while pachinko remained firm, presented together.Annual report

    「Pachislot machine sales in fiscal 2024 were below the previous year's level, partly due to a reactionary decline following market expansion driven by the popularity of smart slots in the previous year. Meanwhile, pachinko machine sales remained at approximately the previous year's level as machines incorporating new rules exclusively for smart pachinko continued to be introduced, and the market remained firm. Accordingly, we estimate that annual new pachinko and pachislot machine sales, an indicator of our market size, were approximately 1.53 million units, compared with 1.61 million units in the previous fiscal year.」

    While the pachislot market showed signs of slowing due to a reactionary decline following the popularity of smart slots, the pachinko market remained firm at approximately the previous year's level, and annual new-machine sales declined from 1.61 million units to approximately 1.53 million units.
  5. FY2025-H1Pachislot slowdown and expectations for a recovery in pachinko, presented together.Annual report

    「The pachinko and pachislot machine market, our Group's core market, had remained firm following the launch of smart slots, but has recently shown signs of slowing. Meanwhile, the pachinko machine market had remained sluggish, somewhat overshadowed by the pachislot machine market, but since March 2024, pachinko machines featuring new gameplay have been introduced and attracted attention. The spread of these new machines is expected to support a recovery in the pachinko machine market going forward.」

    While its assessment has shifted from firmness in the pachislot machine market driven by smart slots to signs of a recent slowdown, it expresses expectations for a market recovery driven by the spread of pachinko machines featuring new gameplay.
  6. FY2024Slight growth in market sales volumes and concerns over the burden of capital investment to accommodate new banknotes.Annual report

    「The pachinko and pachislot machine market, our Group's core market, measured by annual new-machine sales, had been contracting since 2006, but bottomed out in fiscal 2020 and has begun to show signs of recovery. On the other hand, the increase in pachinko halls' capital investment burden to accommodate the new banknotes is expected to adversely affect their willingness to invest in new machines. In addition, the market is facing the severe impact of shrinking demand as reuse of component parts, including our products, progresses.」

    While stating that the market has bottomed out and is showing signs of recovery, it identifies pachinko halls' increased capital investment burden to accommodate the new banknotes as a new concern. Annual new-machine sales increased slightly from 1.58 million units in the previous fiscal year to approximately 1.61 million units.
  7. FY2024-Q3RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, appears to be remaining firm, with the recovery trend in the pachislot machine market becoming more pronounced following the launch of smart slots.」

    It reconfirms the analysis that the recovery trend in the pachislot machine market has become more pronounced following the launch of smart slots and that our core market remains firm.
  8. FY2024-Q1MitigatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, appears to be remaining firm, with the recovery trend in the pachislot machine market becoming more pronounced following the launch of smart slots.」

    Unlike the previous explanation, which focused on market contraction and challenging conditions, it describes a recovery trend and firmness in the pachislot machine market following the launch of smart slots. This is a change in wording indicating that the impact of the risks has been partially mitigated.
  9. FY2023MaterialisedAnnual report

    「We estimate that annual sales of new pachinko and pachislot machines, an indicator of our market size, were approximately 1.58 million units, compared with 1.74 million units in the previous fiscal year.」

    While stating that the market remained firm following the launch of next-generation gaming machines, it notes that annual new-machine sales declined from 1.74 million units in the previous fiscal year, which benefited from replacement demand, to approximately 1.58 million units.
  10. FY2023-Q3RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, had remained challenging, with annual sales of new machines continuing to decline. However, we analyze that the market contraction bottomed out in fiscal 2020. With the arrival of next-generation gaming machines, including smart pachinko and smart slots, we analyze that the market will remain firm during the current consolidated fiscal year.」

    It reiterates the analysis that, despite recognizing the challenging environment caused by declining new-machine sales, the market contraction bottomed out in fiscal 2020 and the market will remain firm during the current consolidated fiscal year following the arrival of next-generation gaming machines.
  11. FY2023-Q2RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, had remained challenging, with annual sales of new machines continuing to decline. However, we analyze that the market contraction bottomed out in fiscal 2020. The launch of next-generation gaming machines, including smart pachinko and smart slots, is planned, and we analyze that the market will remain firm during the current consolidated fiscal year.」

    It reiterates the analysis that, despite recognizing the challenging environment caused by declining new-machine sales, the market contraction bottomed out in fiscal 2020 and the market will remain firm during the current consolidated fiscal year following the launch of next-generation gaming machines.
  12. FY2023-Q1Analysis that the market contraction has bottomed out and expectations for the launch of next-generation gaming machines.Annual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with annual sales of new machines continuing to decline. However, we analyze that the market contraction bottomed out in fiscal 2020. The launch of next-generation gaming machines, including smart pachinko and smart slots, is planned, and we analyze that the market will remain firm during the current consolidated fiscal year.」

    It analyzes that, while the challenging environment caused by declining new-machine sales continues, the market contraction bottomed out in fiscal 2020 and the market will remain firm during the current consolidated fiscal year following the launch of next-generation gaming machines.
  13. FY2022Replacement demand materialized and annual market sales volumes recovered.Annual report

    「We estimate that annual sales of pachinko and pachislot machines, an indicator of our market size, recovered to approximately 1.74 million units from 1.20 million units in the previous fiscal year.」

    It states that, while challenging market conditions continue, replacement demand materialized ahead of the installation deadline for machines subject to the former regulations, and annual sales recovered from 1.20 million units to approximately 1.74 million units.
  14. FY2022-Q3It states that replacement demand has materialized.Annual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with demand for new machines depressed by the difficult operating environment faced by pachinko halls. However, during the current consolidated fiscal year, replacement demand for machines subject to the new regulations materialized ahead of the installation deadline for machines subject to the former regulations under the revised supplementary provisions to the regulations that took effect in May 2020.」

    It states that, while challenging market conditions and weak demand for new machines continue, replacement demand for machines subject to the new regulations ahead of the installation deadline for machines subject to the former regulations, previously described as an expectation, has actually materialized.
  15. FY2022-Q2RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with demand for new machines depressed by the difficult operating environment faced by pachinko halls. Meanwhile, during the current consolidated fiscal year, demand for replacement with machines subject to the new regulations is expected ahead of the new installation deadline for machines subject to the former regulations under the revised supplementary provisions to the regulations that took effect in May 2020.」

    It reiterates that the difficult operating environment faced by pachinko halls and weak demand for new machines continue, while replacement demand is expected ahead of the new installation deadline for machines subject to the former regulations.
  16. FY2022-Q1RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with demand for new machines depressed by the difficult operating environment faced by pachinko halls. Meanwhile, during the current consolidated fiscal year, demand for replacement with machines subject to the new regulations is expected ahead of the new removal deadline for machines subject to the former regulations, as extended under the revised supplementary provisions to the regulations that took effect in May 2020.」

    It states that the difficult operating environment faced by pachinko halls and weak demand for new machines continue, while replacement demand is expected ahead of the new removal deadline for machines subject to the former regulations.
  17. FY2021-Q3RestatedAnnual report

    「Against the backdrop of challenging market conditions, pachinko and pachislot machine manufacturers are strongly focused on reducing costs, and reuse of component parts, including our products, is becoming increasingly widespread, making the business environment surrounding our Group more challenging. In addition, in response to the spread of COVID-19, the National Public Safety Commission amended the supplementary provisions to the revised regulations in May 2020, extending the deadline for removing machines subject to the former regulations from the market, which had originally been required by January 2021. As a result, the market outlook is extremely uncertain.」

    Challenging market conditions and an extremely uncertain outlook continue due to the market downturn, self-regulation and regulatory amendments, as well as the extension of the deadline for removing machines subject to the former regulations from the market due to COVID-19.
  18. FY2021-Q2MaterialisedAnnual report

    「Meanwhile, the extension of the deadline for removing machines subject to the former regulations from the market, implemented in response to the spread of COVID-19, spread demand for replacement with machines subject to the new regulations across the current and following fiscal years. Since May 2020, when the extension was announced, sales of products for pachinko and pachislot machines have shown a declining trend.」

    It states that the extension of the removal deadline for machines subject to the former regulations spread replacement demand across the current and following fiscal years and that sales of core products slowed from May 2020.
  19. FY2021-Q1WorsenedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with pachinko halls' willingness to purchase new machines depressed by the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations aimed at addressing addiction. Against this backdrop, pachinko and pachislot machine manufacturers are strongly focused on reducing costs, and reuse of component parts, including our products, is becoming increasingly widespread, making the business environment surrounding our Group more challenging. In addition, in response to the spread of COVID-19, the National Public Safety Commission amended the supplementary provisions to the revised regulations, extending the deadline for removing machines subject to the former regulations from the market, which had originally been required by January 2021. As a result, the market outlook is extremely uncertain.」

    In addition to the market contraction, self-regulation and weak demand for new machines, it identifies the extension of the deadline for removing machines subject to the former regulations from the market due to COVID-19, stating that the market outlook is extremely uncertain.
  20. FY2020WorsenedAnnual report

    「In recent years, the diversification of leisure activities and the impact of industry self-regulation have caused annual new-machine sales to decline continuously, reaching approximately 1.75 million units in the fiscal year ended March 2020, about 280,000 units below the level in the fiscal year ended March 2018. More recently, the spread of COVID-19 has made the outlook for the market extremely uncertain.」

    It quantifies the decline in annual new-machine sales to approximately 1.75 million units and identifies the spread of COVID-19 as a new adverse factor.
  21. FY2020-Q3RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with pachinko halls' willingness to purchase new machines depressed by the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations aimed at addressing addiction.」

    It reiterates that challenging market conditions continue due to the diversification of leisure activities, the impact of the amended regulations implementing the Amusement Business Act and related regulations, and weak demand for new machines.
  22. FY2020-Q2RestatedAnnual report

    「The pachinko and pachislot machine market, our Group's core market, remains challenging, with pachinko halls' willingness to purchase new machines depressed by the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations aimed at addressing addiction.」

    It reiterates that challenging market conditions continue due to the diversification of leisure activities, the impact of the amended regulations implementing the Amusement Business Act and related regulations, and weak demand for new machines.
  23. FY2019RestatedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging, with pachinko halls' willingness to purchase new machines depressed by the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations aimed at addressing addiction in recent years.」

    It reiterates that challenging market conditions continue due to regulatory amendments, the diversification of leisure activities and weak demand for new machines.
  24. FY2019-Q3RestatedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging, with pachinko halls' willingness to purchase new machines depressed by the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations aimed at addressing addiction.」

    It reiterates that the diversification of leisure activities and the impact of the amended regulations implementing the Amusement Business Act and related regulations have depressed demand for new machines, resulting in continued challenging market conditions.
  25. FY2019-Q2RestatedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging, with the number of players showing a declining trend due to the diversification of leisure activities and the impact of industry self-regulation in recent years aimed at addressing addiction. In addition, the impact of the regulations implementing the Amusement Business Act and related regulations, amended in February this year, has reduced pachinko halls' willingness to purchase new machines amid the uncertain outlook, making current market conditions even more challenging.」

    It reiterates that challenging market conditions continue due to the declining number of players, self-regulation, the impact of the amended regulations implementing the Amusement Business Act and related regulations, and weak demand for new machines.
  26. FY2019-Q1MaterialisedAnnual report

    「The impact of the regulations implementing the Amusement Business Act and related regulations, amended in February this year, has further reduced pachinko halls' willingness to purchase new machines amid the uncertain outlook, making current market conditions even more challenging.」

    The declining number of players, self-regulation and the impact of the amended regulations implementing the Amusement Business Act and related regulations have continued to depress demand for new machines and maintain challenging market conditions during the quarter.
  27. FY2018MaterialisedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging, with the number of players showing a declining trend due to the diversification of leisure activities and the impact of industry self-regulation in recent years aimed at addressing addiction. In addition, the impact of the regulations implementing the Amusement Business Act and related regulations, amended in February this year, has further reduced pachinko halls' willingness to purchase new machines amid the uncertain outlook, making current market conditions even more challenging.」

    It states that the number of players continues to decline and that, following the implementation of the amended regulations implementing the Amusement Business Act and related regulations, pachinko halls have become less willing to purchase new machines, resulting in a challenging business environment.
  28. FY2018-Q3WorsenedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging, with the number of players showing a declining trend due to the diversification of leisure activities and the impact of industry self-regulation in recent years aimed at addressing addiction. The amended regulations implementing the Amusement Business Act and related regulations are also scheduled to take effect in February 2018. As pachinko halls have become less willing to purchase new machines amid the uncertain outlook, current market conditions are particularly challenging.」

    It states that the number of players is declining and that pachinko halls have become less willing to purchase new machines ahead of the implementation of the amended regulations implementing the Amusement Business Act and related regulations, making current market conditions particularly challenging.
  29. FY2018-Q2WorsenedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging. In addition to the market downturn caused by the diversification of leisure activities and other factors, industry self-regulation has led to a declining trend in sales volumes. The impact of the amendments to the regulations implementing the Amusement Business Act and related regulations, aimed at addressing addiction and scheduled for February 2018, requires close monitoring, and we expect the market outlook to remain increasingly uncertain.」

    It identifies the impact of the amendments to the regulations implementing the Amusement Business Act and related regulations, scheduled to take effect in February 2018, as a new source of uncertainty amid continued declining sales volumes, stating that the market outlook is becoming increasingly uncertain.
  30. FY2018-Q1MaterialisedAnnual report

    「The pachinko and pachislot machine market, our core market, remains challenging. In addition to the market downturn caused by the diversification of leisure activities and other factors, industry self-regulation has led to a declining trend in pachinko and pachislot machine sales volumes.」

    It states that sales volumes of pachinko and pachislot machines have been declining and that the challenging environment continues due to the market downturn and self-regulation.
  31. FY2017MaterialisedAnnual report

    「The pachinko and pachislot machine market, our core market, remains in a difficult environment due to the sluggish market caused by the diversification of leisure activities and other factors, compounded by the impact of voluntary industry restrictions implemented by industry associations in 2015 and voluntary restraint on new machine installations in connection with the Ise-Shima Summit, held in May 2016. In addition, temporary replacement demand arose from the second to the third quarter of the fiscal year ahead of the year-end removal of pachinko machines whose performance may differ from that of the certification machines, but the fourth quarter, after the replacement demand had run its course, saw a substantial decline.」

    The company states that, in addition to market weakness and voluntary industry restrictions, a substantial decline actually occurred in the fourth quarter after the temporary replacement demand had run its course.
  32. FY2017-Q3WorsenedAnnual report

    「In addition, temporary replacement demand arose from the second to the third quarter of the fiscal year ahead of the year-end removal of pachinko machines whose performance may differ from that of the certification machines. However, the market environment is expected to become even more challenging, including an anticipated decline following the end of the replacement demand from the fourth quarter onward.」

    While temporary replacement demand arose, the company forecasts a decline following its end from the fourth quarter onward and expects market conditions to become even more challenging.
  33. FY2017-Q2RestatedAnnual report

    「The pachinko and pachislot machine market, our core market, remains in a difficult environment due to the sluggish market caused by the diversification of leisure activities and other factors, compounded by the impact of voluntary industry restrictions implemented by industry associations in November and December last year and voluntary restraint on new machine installations in connection with the Ise-Shima Summit, held in May 2016.」

    The company restates that the difficult market environment continues as market weakness, voluntary industry restrictions and voluntary restraint on new machine installations compound one another.
  34. FY2017-Q1WorsenedAnnual report

    「The pachinko and pachislot machine market, our core market, remained under difficult conditions due to the impact of voluntary industry restrictions implemented in November and December 2015, compounded by the impact of voluntary restraint on the installation of new machines in connection with the Ise-Shima Summit, held in May 2016.」

    The company states that the impact of voluntary restraint on new machine installations, in addition to the existing voluntary industry restrictions, made market conditions more challenging.
  35. FY2016MaterialisedAnnual report

    「In addition, new pachinko and pachislot machine sales declined toward the second half of the fiscal year due to the impact of voluntary industry restrictions implemented by industry associations in November 2015 for pachinko machines and December 2015 for pachislot machines.」

    The company states that voluntary industry restrictions affected the decline in new machine sales in the second half of the fiscal year. It also states that annual new machine sales in the market were approximately 3.25 million units.
Moved together

"Demand contraction due to the reuse of components from pachinko and pachislot machines" moved the same way as this thread, in the same document, in 8 of its 38 moves.

883333★123456
  1. ★This thread
  2. 1Demand contraction due to the reuse of components from pachinko and pachislot machines8×
  3. 2Dependence on the Pachinko and Pachislot Machine Market and Core Graphics LSIs8×
  4. 3Rising purchase prices and lower gross margins due to the global semiconductor supply-demand crunch3×
  5. 4Plan for an annual dividend of ¥10 and a 56.0% payout ratio for the following fiscal year3×
  6. 5Foreign exchange risk associated with increased foreign-currency settlements3×
  7. 6Disclosure of the two reportable segments: LSI development and sales, and new businesses3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Axell's next results are scheduled for 2026-11-06. Read the earnings preview It last moved in the Revision of earnings forecasts of 2026-09-28: "Mitigated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Shrinking Pachinko and Pachislot Machine Market and Industry Self-Regulation | AXELL CORPORATION (6730) | Komori