Koshidaka Holdings (2157 JP) is a karaoke-operator run by serial entrepreneur Hiroshi Koshidaka. The man has an incredible track record and he continues to put his entire focus on the company. The main part of the business is a chain of karaoke bars run under the brand name "Maneki-neko". While the karaoke industry is stagnant, Koshidaka has managed to consolidate the industry. They focus on the lower-end market, offering easy-to-use equipment, clean facilities, low prices and convenience by allowing visitors to bring their own drinks. The strategy of building karaoke boxes around key railway stations and very densely populated urban areas has served them well. ROEs are very high by Japanese standards. Koshidaka has managed to double its market share from 5% to 10% in the past decade, despite a slow-growing overall market.
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