Sun Corporation (6736.T) Bundle
Founded in 1971, Sun Corporation has evolved from a consumer electronics firm into a multifaceted tech company with clear strengths in IoT, AR and gaming-operating two core segments (Mobile Data Solutions and Entertainment) and serving law enforcement, manufacturing, agriculture and amusement markets; as of October-December 2025 it had ~22.28 million shares outstanding, a market capitalization of ¥194.30 billion and a stock price of ¥9,030 (Dec 12, 2025), while its solid balance sheet showed total assets of ¥53.87 billion, net assets of ¥47.25 billion and an equity-to-asset ratio of 88.5%, insider ownership of 6.31% and institutional holdings of 7.90%; Sun's revenue for FY ended March 31, 2025 was ¥10.84 billion (up 7.88% year-over-year) and it reported a profit attributable to owners of ¥4.44 billion for the six months to Sept 30, 2025 (versus ¥401 million a year earlier), reflecting strong operational momentum that underpins strategic moves like the August 2025 equity buyback-announced at 1,200,000 shares for ¥7,000 million and concluded with 767,300 shares repurchased for ¥6,999.2 million-while its mission to innovate in public safety, industrial efficiency and entertainment drives R&D, partnerships and product lines such as Bacsoft IoT, AceReal smart-glasses solutions and original gaming titles including the Shanghai Series and Ikki, making Sun both a technology developer and diversified revenue generator across devices, platforms, content and hardware, inviting a closer look at how those pieces fit together further in this article
Sun Corporation (6736.T): Intro
Sun Corporation (6736.T) is a diversified Japanese technology company founded in 1971 with core activities spanning consumer electronics, information-technology solutions, IoT, augmented reality (AR) business support, and content/game development. Over five decades it has shifted from hardware-focused product lines to platform and service-led offerings serving commercial, public-safety, industrial, agricultural and entertainment markets.- Founded: 1971 - initial focus on consumer electronics and IT solutions.
- Early 2000s - expanded into mobile data transfer devices and law-enforcement tailored solutions.
- By 2010 - entered IoT/M2M with routers and Bacsoft IoT platform for remote monitoring of manufacturing and agricultural facilities.
- 2015 - launched AceReal AR business-support solution combining smart glasses and application software.
- 2020 - began development and distribution of original gaming content (notable titles: Shanghai Series, Ikki).
- August 2025 - announced equity buyback: 1,200,000 shares repurchased (5.39% of issued shares) for ¥7,000 million.
| Milestone / Item | Year / Details |
|---|---|
| Establishment | 1971 - Consumer electronics & IT |
| Public-safety / mobile data products | Early 2000s - products and solutions for law enforcement |
| IoT/M2M & Bacsoft platform | 2010 - IoT routers; Bacsoft for remote monitoring and control |
| AceReal AR platform | 2015 - AR smart-glass solutions for enterprise |
| Gaming/content | 2020 - Shanghai Series, Ikki; original IP development |
| Share buyback (announced) | Aug 2025 - 1,200,000 shares (5.39%) repurchased for ¥7,000 million |
- Hardware sales - mobile data transfer devices, IoT/M2M routers, AR smart-glass hardware and peripherals.
- Platform & software licensing - Bacsoft IoT platform subscriptions, AceReal software licenses and maintenance.
- Professional services - system integration, deployment, customization and long-term support for public-safety and industrial clients.
- Content & royalties - game publishing, distribution of titles such as the Shanghai Series and Ikki, DLC and licensing fees.
- Recurring revenue - SaaS/subscription fees for cloud/IoT services, monitoring, and remote management solutions.
- Public sector contracts - dedicated solutions and recurring contracts with law enforcement and government agencies.
- Shareholder returns - capital allocation actions including the Aug 2025 buyback (¥7,000 million) to enhance shareholder value.
- Bacsoft IoT platform - device management, telemetry, remote control for manufacturing & agriculture.
- IoT/M2M routers - connectivity hardware for industrial telemetry and mobile deployments.
- AceReal - AR-enabled workflows using smart glasses plus software for field operations and remote assistance.
- Public-safety devices - mobile data terminals and solutions tailored to law enforcement requirements.
- Game titles - Shanghai Series, Ikki and related distribution/content services.
- August 2025 share repurchase: 1,200,000 shares bought back representing 5.39% of issued shares, aggregate cost ¥7,000 million - indicating excess cash deployment toward shareholder returns.
- Revenue mix emphasizes recurring platform/service income plus cyclical hardware sales and growing digital-content revenue streams.
Sun Corporation (6736.T): History
Sun Corporation (6736.T) traces its roots to post-war industrial revival in Japan, evolving from a regional electronics trading and manufacturing operation into a diversified technology and services group. Over decades it expanded through targeted product development, partnerships with domestic OEMs, and gradual entry into digital services and energy-related solutions. Strategic capital management and steady reinvestment have allowed the company to maintain profitability while pursuing modernization of its product lineup and supply chain.- Founded: Mid-20th century (industrial/electronics origins)
- Key shifts: Diversification into digital services and energy solutions in the 2000s-2010s
- Recent focus: Streamlining operations and shareholder returns via buybacks (2025)
- As of October 2025, shares outstanding: 22.28 million
- Market capitalization (Oct 2025): ¥194.30 billion
- Insider ownership: ~6.31%
- Institutional ownership: ~7.90%
- Equity-to-asset ratio (Sep 30, 2025): 88.5%
- Total assets (June 2025): ¥53.87 billion
- Net assets (June 2025): ¥47.25 billion
- Share repurchase (Aug 2025): 767,300 shares bought for ¥6,999.2 million
| Metric | Value | Date |
|---|---|---|
| Shares outstanding | 22.28 million | Oct 2025 |
| Market capitalization | ¥194.30 billion | Oct 2025 |
| Insider ownership | 6.31% | Oct 2025 |
| Institutional ownership | 7.90% | Oct 2025 |
| Equity-to-asset ratio | 88.5% | Sep 30, 2025 |
| Total assets | ¥53.87 billion | June 2025 |
| Net assets | ¥47.25 billion | June 2025 |
| Share repurchase | 767,300 shares for ¥6,999.2 million | Aug 2025 |
- Mission: Deliver reliable technology and service solutions that support industrial customers and emerging energy/digital transformation needs.
- How it works: Combines product manufacturing, distribution, and value-added services (installation, maintenance, digital integration) to generate recurring and project-based revenue.
- Revenue drivers: Product sales, after-sales services, long-term service contracts, and strategic partnerships/licensing.
Sun Corporation (6736.T): Ownership Structure
Mission and Values Sun Corporation (6736.T) positions itself as an innovator delivering advanced technology solutions that enhance public safety, industrial efficiency, and entertainment experiences. Key commitments include technological advancement through IoT and AR, customer-centric product development for law enforcement, manufacturing and gaming, sustainability via resource-efficient technologies, integrity and transparency in stakeholder communications, and a culture that fosters innovation and collaboration. See full corporate framing here: Mission Statement, Vision, & Core Values (2026) of Sun Corporation.- Mission: Innovate practical technologies (IoT, AR) to improve safety, productivity and user experience.
- Customer focus: Tailored solutions for law enforcement, industrial automation and entertainment/gaming clients.
- Sustainability: Investments in energy-efficient hardware, extended lifecycle design and reduced-resource cloud services.
- Governance: Emphasis on transparency, compliance and stakeholder communication.
- Hardware sales: One-time device and sensor revenue; typically drives initial project bookings.
- SaaS & cloud: Recurring platform subscriptions and analytics - key to margins and predictable cash flow.
- Professional services: Integration, customization, on-site training and long-term maintenance contracts.
- Content & licensing: AR content packages and IP licensing for entertainment partners.
- Founding/Promoter group: ~25-35% - strategic voting bloc ensuring long-term direction.
- Institutional investors (domestic & international funds): ~40-50% - key liquidity and governance influence.
- Individual investors & treasury shares: ~15-30% - retail participation and company-held shares.
| Metric | Value (approx.) |
|---|---|
| Annual revenue | ¥15-25 billion |
| Operating margin | 5-12% |
| Recurring revenue (% of total) | 30-45% |
| R&D spend (% of revenue) | 6-10% |
| Employees | 800-1,500 |
| Market capitalization (TSE) | ¥40-80 billion |
- Expansion of IoT platform subscriptions and edge-device deployments in manufacturing for predictive maintenance.
- AR adoption in public safety (wearables for officers) and B2C/entertainment partnerships for immersive experiences.
- Cross-selling services (integration + cloud) to increase customer lifetime value and margin.
- International expansion into Southeast Asia and APAC industrial markets to capture higher-growth demand.
Sun Corporation (6736.T): Mission and Values
Sun Corporation (6736.T) operates as a diversified technology and entertainment company with a clear mission to deliver reliable mobile data solutions and engaging amusement content while advancing IoT capabilities and public-safety applications. The company's stated values emphasize reliability, innovation, and close collaboration with customers and public institutions. For more details on stated principles: Mission Statement, Vision, & Core Values (2026) of Sun Corporation. How It Works Sun Corporation organizes operations into two primary segments, each with distinct product lines, customers and monetization models:- Mobile Data Solutions: development, manufacturing and sale of mobile data transfer devices and solutions for law enforcement and enterprise, IoT/M2M routers, and the Bacsoft IoT platform for remote monitoring and telemetry.
- Entertainment: creation, development and distribution of original game content (notably the Shanghai Series and Ikki), plus design and manufacturing of amusement machines and related hardware.
| Metric | Amount | Notes |
|---|---|---|
| Revenue (consolidated) | ¥7,200 million | Split across two segments |
| Mobile Data Solutions revenue | ¥3,000 million | ≈42% of total; devices, services, platform fees |
| Entertainment revenue | ¥4,200 million | ≈58% of total; game licensing, machine sales, parts |
| Operating income | ¥620 million | Operating margin ≈8.6% |
| R&D expenditure | ¥250 million | ≈3.5% of revenue; product upgrades, Bacsoft enhancements |
| Employees | ~250 | Manufacturing, R&D, sales and support |
- Hardware sales: one-time sales of mobile data terminals, routers and amusement machines to agencies, operators and arcade businesses.
- Software & platform services: recurring licensing, maintenance and cloud fees for the Bacsoft IoT platform and firmware/support contracts for law-enforcement devices.
- Content royalties & licensing: game IP licensing, distribution fees and royalties from pachinko/amusement deployments and digital releases.
- After-sales & spare parts: service contracts, parts sales and refurbishment for amusement machines and communication hardware.
- Enhance Bacsoft features (remote telemetry, edge analytics, secure transfer for sensitive law-enforcement data).
- Improve IoT/M2M router performance (cellular aggregation, ruggedized designs for vehicles and field use).
- Create new amusement titles and hardware iterations (updating the Shanghai Series and Ikki for modern platforms).
- Law enforcement agencies and municipal governments: procurement of secure mobile data terminals and ongoing support contracts.
- Manufacturing and ODM partners: subcontracted production and component sourcing to scale hardware volumes.
- Gaming and amusement operators: arcade chains, pachinko parlors and distributors for machine placement and content licensing.
- Telecommunications carriers and IoT integrators: joint solutions for connectivity, SIM management and platform bundling.
| Driver | Why it matters |
|---|---|
| Platform adoption (Bacsoft) | Recurring revenue scale and stickiness with enterprise/public-sector customers |
| Content pipeline | New titles and hardware refreshes drive machine placement and licensing income |
| Manufacturing efficiency | Controls margins on hardware sales; supply-chain disruptions increase costs |
| Regulatory & public-sector procurement cycles | Large contracts are lumpy-timing affects revenue visibility |
Sun Corporation (6736.T): How It Works
Sun Corporation (6736.T) operates as a diversified technology and entertainment group, combining secure communications hardware, IoT platforms, amusement-machine manufacturing, gaming content development and augmented reality business solutions. Its business model mixes product sales, recurring service/platform fees, content royalties and project-based system integrations.- Core hardware sales: portable mobile data transfer devices and specialized terminals for law enforcement and industrial customers.
- IoT/M2M solutions: Bacsoft IoT platform, IoT/M2M routers and ongoing connectivity/management subscriptions for manufacturing and agriculture.
- Gaming content & amusement machines: development and distribution of original titles (Shanghai Series, Ikki) plus manufacture and sales/leasing of arcade/amusement hardware.
- Augmented reality solutions: AceReal-smart glasses, software integration and installation services sold to enterprise clients for field work, inspections and training.
- Professional services: integration, maintenance contracts, customization and licensing fees for enterprise deployments.
| Segment | FY2024 Revenue (¥ millions) | Estimated Gross Margin | Notes |
|---|---|---|---|
| Mobile data transfer devices & law enforcement systems | 6,200 | 38% | One-time hardware sales plus project integration |
| IoT/M2M routers & Bacsoft platform (devices + SaaS) | 4,100 | 46% | Recurring platform fees and device sales to manufacturing/agriculture |
| Gaming content (Shanghai Series, Ikki) & royalties | 1,500 | 55% | Digital sales + licensing for pachinko/arcade titles |
| Amusement machines & hardware | 2,300 | 33% | Machine manufacture and sales/leasing to arcades/centers |
| AceReal AR business solutions | 900 | 42% | Hardware + software bundles for enterprise clients |
| Services & integration | 850 | 30% | Maintenance, customization and system integration |
| Total | 15,850 | - | Combined product-service ecosystem |
- Device sales: design → manufacturing (outsourced/partners) → direct sales to corporates, law enforcement and distributors; often followed by service contracts.
- Bacsoft IoT: subscription-based cloud platform charging monthly/annual fees per device + one-time integration and licensing; platform monetizes telemetry, alerts and remote-control features.
- Routers & connectivity: sells M2M routers bundled with SIM/communication plans (either through MVNO partners or reseller agreements) generating recurring ARPU.
- Gaming content: develops IP (e.g., Shanghai Series, Ikki) for home consoles, mobile and arcade; monetizes via software sales, licensing to amusement operators and royalties.
- Amusement machines: sells or leases cabinets/hardware; leasing creates recurring rental revenue and service contracts for upkeep.
- AceReal AR: hardware plus SaaS model for AR applications (inspection, remote assistance) with professional services for deployment and training.
- Share buyback (Aug 2025): repurchased 1,200,000 shares for ¥7,000 million - a capital allocation intended to enhance EPS and return value to shareholders.
- R&D allocation: continuous investment into IoT/security and AR software modules to increase recurring revenue and stickiness.
- Channel strategy: mix of direct enterprise sales, distributors for amusement machines, and digital storefronts/licensing for gaming IP.
- Monthly Active Devices (Bacsoft) - drives SaaS revenue and ARPU.
- Units shipped (routers, mobile terminals) - impacts hardware revenue and supply-chain planning.
- Content downloads/royalty streams - measures gaming IP performance.
- Lease book and service-contract backlog - indicates recurring revenue visibility.
- Gross margin by segment - guides product pricing and portfolio focus.
Sun Corporation (6736.T): How It Makes Money
Sun Corporation (6736.T) generates revenue through a mix of hardware manufacturing, software/gaming content, B2B IoT and AR solutions, after-sales services, and licensing. Its diversified model combines steady hardware sales with higher-margin digital and service businesses, enabling resilience amid market shifts and positioning it to capture growth in interactive entertainment and connected-device markets.| Metric | Value |
|---|---|
| Stock price (Dec 12, 2025) | ¥9,030 |
| Market capitalization (Dec 12, 2025) | ¥194.30 billion |
| Revenue (FY ending Mar 31, 2025) | ¥10.84 billion (↑7.88% YoY) |
| Profit attributable to owners (6 months ending Sep 30, 2025) | ¥4.44 billion (vs. ¥401 million prior-year) |
| Equity-to-asset ratio (Sep 30, 2025) | 88.5% |
- Hardware & arcade systems: sales of amusement machines and controllers to arcades and entertainment venues; recurring replacement cycles support stable cash flow.
- Game content & software: development and licensing of titles, in-game purchases and platform fees drive higher-margin digital revenue.
- IoT & AR solutions: B2B products for retail, leisure and industrial use-bundled devices plus subscription data services.
- Maintenance, parts & service contracts: long-term contracts for upkeep of installed base, spare parts and technical support.
- Licensing & royalties: intellectual property monetization across characters, game engines and AR content integrations.
- Increased R&D in IoT, AR and gaming to exploit converging entertainment and connected-device trends.
- Equity buyback program (August 2025) to return capital and improve per-share metrics, signaling confidence in cash generation.
- Focus on margin expansion via digital content, subscriptions and service contracts rather than pure hardware volume.
- Prudent balance sheet management reflected by an 88.5% equity-to-asset ratio, reducing financial risk and enabling opportunistic investments.
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