KOCHI (TR) – Heiwa Shoji Co., Ltd., a pachinko parlor operator primarily based in Susaki City ceased all enterprise operations on October 31 and moved to file for chapter on November 4, in keeping with Tokyo Shoko Research’s Kochi department.
The firm was first established in March 1968 as a sole proprietorship buying and selling underneath the identify Heiwa Kaikan in Shimachi, Susaki City, and over the next a long time constructed a formidable regional empire, anchoring three areas inside Susaki City alone.
At the peak of its energy within the fiscal yr ending December 1998, the chain was working 5 parlors and posting annual revenues of a staggering 10.82 billion yen, making it one of many dominant pachinko operators within the prefecture.
The lengthy slide started in 2005, when the corporate began closing underperforming areas one after the other as foot site visitors dried up. By latest years, the complete operation had been lowered to a single surviving outlet, the Heiwa Nexus parlor, with annual gross sales shriveled to roughly 1.2 billion yen, a fraction of its former glory.
Total liabilities stand at roughly 500 million yen, Tokyo Shoko Research stated.