Japan Cash Machine Co Ltd, a maker of printers and cash processing technology used in the land-based casino industry, and also known as JCM Global, says it will look for business opportunities from Japan’s nascent casino resort sector, but added that Covid-19 had accelerated in some parts of the world a trend to either online gaming, or cashless play in bricks and mortar venues.
Japan’s first integrated resorts (IRs) are only likely to open at earliest at the end of the current decade, according to commentary by would-be promoters.
“JCM will continue to closely monitor trends in Japan’s version of IR and focus on securing orders for gaming and commercial projects to seize opportunities for business growth,” said the group’s president and representative director, Yojiro Kamihigashi (pictured), in its annual report for the fiscal year to March 31.
He also noted: “In the gaming industries of the United States and other countries, Covid-19 is contributing to the spread of digital payments. This, in turn, is triggering an upswing in online casinos.”
In relation to those trends, JCM was “experiencing strong demand for its products and new products that contribute to increased efficiency and labour savings,” said its president.
He added: “Despite this operating change, we believe that the complete transition to a cashless society will still take several years.”
JCM would focus on “developing and bringing to market new products that meet evolving needs as quickly as possible, while ensuring a strong residual profit that leads to sustainable growth over the medium to long term,” Mr Kamihigashi stated.
JCM swung back to a net profit, amounting to JPY605.4 million (US$4.5 million at current exchange rates) for its financial year ended March 31. That compared to a net loss of JPY7.56 billion a year earlier.
The technology supplier also gave some general commentary regarding the two Japanese communities – Osaka and Nagasaki – that did submit proposals to the national government for a respective IR by the April 28 deadline.
JCM’s president said in his annual report message: “Integrated developments that incorporate international conference centres and hotels can contribute to regional growth through the creation of new jobs by increasing the number of foreign tourists.”
But he added: “Although there are hopes that casinos can provide a stimulus for economic growth to further expand inbound consumption, which had exhibited significant growth before Covid-19,” there were in terms of domestic opinion in Japanese society, “deep-seated concerns and considerable opposition owing to the social cost of gambling addiction and gambling education of the younger generation.”
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