Founded in 1974 as IPM (International Play Machine), the Japan-based company originally built arcade cabinets and machines. It developed its first game IPM Invader in 1978 and changed the company name to Irem (International Rental Electronic Machines) Corporation in 1979. Irem had a couple of arcade hits in the early '80s with Moon Patrol (1982) and Kung-Fu Master (1984), though it is best known for the R-Type series that began in 1987. Irem America was founded in 1989 and was based in Redmond, Washington for five years before closing due to its parent company having financial difficulties.
Irem temporarily stopped making games in the mid-'90s during restructuring. While it did return to game development, the company would eventually be absorbed by another Irem. Back in 1980 a company called Nanao became the majority shareholder in Irem Corporation and in 1997 founded Irem Software Engineering which took over Irem Corp. and is still in business today.
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