FuRyu Corp., a maker of photo sticker machines used in video game arcades, is considering an initial public offering, company president Yoshiro Tasaka said.
"We've had offers to do an IPO for the past few years," he said in a recent interview. An offering "would help build strength so we can grow."
Tasaka declined to comment on the timing, size and banks involved in the possible share sale.
IPOs in Japan have raised $6.8 billion this year, versus $8.1 billion in the same period in 2013, Bloomberg-complied data show.
FuRyu was founded in 2007 after a management buyout of an entertainment division of Omron Corp., the Kyoto-based factory automation equipment maker, according to its website.
FuRyu's executives, employees and an employee fund now hold its shares, according to Tasaka.
The company's operating profit increased 8.8 percent in the year ended March 31 to ¥3.5 billion, according to its website. Sales rose 11 percent to ¥22.7 billion.
Tasaka said the company is targeting sales increases of 5 percent to 10 percent per year. FuRyu has "effectively paid off" loans used for the management buyout, he said.
Domestic shipments of the machines, including those that can combine photos with illustrations and pop characters in the background, totaled 14,700 units in fiscal 2010, according to a 2012 report from Yano Research Institute Ltd.
FuRyu's photo machines in Japan include "Beauty Addict3," "Girls' Photographer 3" and "Rumor Lots of Lips," according to its website.