GENDA Inc., the Tokyo-based entertainment operator, disclosed two acquisitions extending its rollup strategy into karaoke equipment distribution and specialty beverages. The company plans to acquire Kaji Corporation, a karaoke equipment distributor, and Philico Japan, maker of crystal-decorated bottled water marketed to nightlife venues.
The karaoke acquisition, scheduled for November 4, involves purchasing all outstanding shares of Kaji, a Nagoya-based firm established in 1984 that distributes equipment to bars and clubs. GENDA declined to disclose the purchase price. Kaji generated ¥4.5 billion ($30 million) in sales for the fiscal year ending February 2025, according to corporate filings, with net income reaching ¥377 million ($2.5 million), up sharply from ¥88 million the prior year.
Separately, GENDA will pay ¥652 million ($4.3 million) on December 1 to acquire Philico Japan, which manufactures “Jewelry Water” — bottled water in crystal-decorated containers sold at weddings and nightclubs. The company said the deal’s impact on its January 2026 fiscal year earnings would be minimal.
The moves align with GENDA’s acquisition spree since its 2023 public listing. The company has announced more than two dozen deals, assembling a portfolio spanning amusement arcades under its GiGO brand, the Karaoke BanBan chain, and mini-location gaming corners across Japan and the United States. GENDA operates approximately 800 amusement facilities and 11,000 mini-locations globally.
The company framed the acquisitions as opportunities to cross-sell products across its entertainment venues and strengthen its position in Japan’s nightlife sector, where it already distributes alcoholic beverages and karaoke equipment.
