Due to the inherent structure of the amusement arcade business, we do not anticipate recurring cycles of large-scale reinvestment. Once equipment is purchased, it remains operational over a long period. Consequently, our North American operations will mirror the high cash-generation profile of our existing amusement arcade business in Japan.

The amusement arcade business model is characterized by front-loaded capital expenditure on equipment and interiors at the launch or acquisition stage, followed by the steady accumulation of earnings through the utilization of existing assets. By performing appropriate maintenance and selective machine rotations, these assets continue to contribute to revenue well beyond their formal depreciation periods. Our North American amusement business follows the same structural model as our domestic operations. Once the initial rotation of game machines following an M&A acquisition is complete, the business transitions into a stage where it consistently generates FCF, requiring only ongoing maintenance CAPEX.