Next Eye went from ¥317M peak sales to ¥37M in debt — a watch retailer's 25-year slide

Next Eye (有限会社ネクストアイ) was a Japanese watch and accessory retailer founded in 2001 and incorporated in January 2002, based in Sanjo City, Niigata Prefecture, with a capital of ¥3 million. It initially operated a retail store called "Watch Station Crash" in Shibuya, Tokyo, and also wholesaled watches and accessories to retailers and mass-market stores.

The company peaked in the fiscal year ending August 2006 with annual sales of approximately ¥317 million. After that, sales declined steadily for nearly two decades. In January 2019, the company moved its headquarters from Tokyo to Sanjo City, Niigata, and shifted its business model from physical retail to internet-based mail-order sales. The move did not reverse the decline.

By the fiscal year ending August 2025, annual sales had fallen to approximately ¥89 million — a 72% decline from the peak. The company had been running at a loss for years, accumulating debts that exceeded its assets. Business ceased on April 21, 2026. On July 10, 2026, the company filed a self-bankruptcy petition with the Niigata District Court, Sanjo Branch. A bankruptcy order was issued on July 27, 2026. Total liabilities were approximately ¥37.53 million owed to about 22 creditors.