2D Fighter Maker 2nd (FM2K) was released by ASCII's successor company, Enterbrain. An update to the original version, FM2K allowed for a greater amount of expansion and extension than FM95, revising much of the original engine to allow more options while adding a menu-based system for clarity. As with the previous version, it became wildly popular amongst the dojin communities in Japan. Again, piracy and a fan translation followed, though the second version has yet to meet with the success of the first, primarily due to the large amount of M.U.G.E.N. communities already in operation as well as the incomplete translation of the FM2K software and documentation.

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