JCM annual gaming sales up 45pct, profit soars

May 12, 2023 Newsdesk Industry Talk, Japan, Latest News  

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Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of nearly JPY3.15 billion (US$23.4 million) in the 12 months to March 31. Such profit was up 419.7 percent year-on-year, the firm said in an earnings report published on Wednesday.

JCM, a firm listed on the Tokyo Stock Exchange, makes machines that validate banknotes and handle currency, as well as manufacturing printers for casino gaming machines and other gaming hardware-related devices.

The company reported net sales of JPY25.26 billion in its latest annual results, up 26.0 percent from a year earlier.

Operating income for the period stood at JPY622.0 million, a 9.5-percent increase from the prior year. Such growth was however offset by factors such as increases in the prices of materials and distribution costs, said the firm.

Sales in the group’s global gaming business rose by 44.5 percent year-on-year, to JPY14.58 billion; and segment income was also up by 11.6 percent, to nearly JPY1.65 billion.

“Demand is expected to continue to grow,” said the firm, adding that it would seek to expand its businesses, including via “newly established sales subsidiaries”.

The company said it expected consolidate net sales of JPY28.60 billion for the fiscal year ending March 31, 2024. It forecast an operating income of JPY1.50 billion, with net income expected to reach JPY1.10 billion.

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