Key Facts
• June 25, 2025: Hikari Shoji and Toei Housing declared bankrupt by Niigata District Court.
• Combined debt: $10 million (Hikari Shoji: $6.3 million, Toei Housing: $3.7 million).
• Founded in 1962 in Toyohashi, expanded to Niigata in 1977, later Tokyo.
• Peak revenue: $50 million in fiscal year ending August 2002.
• 2021: Closed pachinko business, including “Dream Paradise.”
• Operated “Retro Memory Plaza” arcade and “Space Create Jiyu Kukan Kashiwazaki” café, both closed by 2024.
• Shifted focus to real estate leasing in recent years.
• Financial struggles included heavy borrowing and asset sales.
• Bankruptcy attributed to poor future outlook and accumulated debt.
Summary
Hikari Shoji, a company that began as a pachinko operator in 1962, has declared bankruptcy alongside its group company, Toei Housing. The Niigata District Court initiated bankruptcy proceedings on June 25, 2025. The two companies face a combined debt of $10 million, with Hikari Shoji owing $6.3 million and Toei Housing $3.7 million. Hikari Shoji expanded its operations to Niigata in 1977 and Tokyo later, achieving peak revenue of $50 million in 2002. However, stricter regulations and competition led to the closure of unprofitable pachinko outlets, culminating in the 2021 shutdown of its pachinko business. The company also operated a game center and a café, both of which closed by 2024. In recent years, Hikari Shoji focused on real estate leasing but struggled with mounting debt and asset sales. The bankruptcy reflects ongoing financial challenges and an uncertain future.
