Japan Cash Machine Co Ltd, also known as JCM Global, says the company has “resolved to transfer” some of the group’s fixed assets, announcing the sale of its Tokyo head office building.
“Although the transfer price and book value are not disclosed at the request of the transferee, the transfer price has been appropriately determined based on market value, which was carefully evaluated with the advice of multiple real estate firms and other third-party experts,” stated JCM in a Monday written announcement.
It added: “The estimated gain on the transfer is expected to be approximately JPY3.2 billion [US$21.4 million], calculated by deducting the book value and estimated expenses related to the transfer from the transfer price.”
The firm said the “extraordinary income” would be recorded as “gain on sales of non-current assets” in its consolidated financial statements for the fiscal year ending March 31, 2026.
JCM, a firm listed on the Tokyo Stock Exchange, makes machines that validate banknotes and handle currency, and also manufactures printers for casino gaming machines and other gaming hardware-related devices.
The transfer of the JCM Higashi Nihonbashi Building, in Japan’s capital, is scheduled for August 29, added the firm.
JCM said the deal was “in order to execute the company’s medium- to long-term vision”.
It added: “The transfer of fixed assets owned by the company is intended to improve asset efficiency, strengthen the financial base, enhance operational efficiency, and promote workstyle reforms for employees.”
According to the update, the transferee is a domestic business corporation.
“There are no capital, personnel, or business relationships that are required to be stated between the transferee and the company,” stated the company.
The firm added: “The transfer of fixed assets is expected to have no impact on the company’s consolidated financial results for the fiscal year ending March 31, 2025.”
JCM reported a net profit of just below JPY4.10 billion in the nine months to December 31, on net sales that rose by 36.1 percent year-on-year, to JPY30.33 billion.
