Pachinko chain seeks H.K. listing

Kyodo

Dynam group is seeking to list on the Hong Kong Stock Exchange to become the first pachinko parlor operator to go public in or outside Japan, sources said.

The firm, which applied for listing on the Hong Kong bourse in mid-January, apparently aims to go public around June with an expected market value of over ¥100 billion, the sources said.

A Dynam spokesman declined comment on the matter.

Although pachinko operators have been seeking to go public since the 1990s to expand the business, no company has managed to do it in Japan or overseas.

The Tokyo-based Dynam group runs around 350 pachinko parlors across Japan. It chalked up a net profit of ¥14 billion on sales of ¥853 billion for fiscal 2010, which ended last March. It is the nation’s second-largest pachinko parlor operator in terms of sales.