GGRAsia – JCM annual profit tops US$21mln, revenue grows 25pct

JCM annual profit tops US$21mln, revenue grows 25pct

May 10, 2024 Newsdesk Industry Talk, Latest News

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of nearly JPY3.28 billion (US$21.1 million) in the 12 months to March 31. Such profit was up 4.3 percent year-on-year, the firm said in an earnings report published on Thursday.

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 annual net sales of JPY31.61 billion, up 25.1 percent from the previous year.

Operating income for the period stood at just under JPY2.84 billion, up 356.4 percent from the prior year.

JCM declared a dividend of JPY19.0 per share for the fiscal-year end. Together with an interim dividend of JPY7.0 apiece, the company declared an aggregate dividend of JPY26.0 per share for the 12 months to March 31 this year. The aggregate dividend per share in the previous fiscal year was JPY10.0.

Sales in the group’s global gaming business rose by 18.5 percent year-on-year in the reporting period, to just under JPY17.28 billion; and segment profit was just above JPY2.79 billion, up 69.8 percent from a year ago. The firm said such performance was supported by “strong demand” for its “mainstay products, such as bill validator units and printer units”.

The company said the “difficulty” in obtaining electronic components for its products that had persisted during the first half of the group’s fiscal year, “was almost resolved in the second half”, supporting the increase in sales in the company’s gaming segment.

On Thursday, JCM said it expects to achieve net sales of JPY35.10 billion for the 12 months to March 31, 2025. The company forecast an operating income of JPY3.40 billion, and annual net profit of JPY2.60 billion.

Last year, JCM said it was targeting net sales of JPY38.50 billion in the fiscal year ending March 2026, as part of the group’s medium-term management plan up to 2032.