Japan Cash Machine Co Ltd (JCM), also known as JCM Global, is aiming to boost market share in the markets where it already operates and expand into new markets, says the group’s president Yojiro Kamihigashi.
JCM, a firm listed on the Tokyo Stock Exchange, is a supplier of cash handling technology and ticket printers, including equipment for the global gaming market.
“During the current fiscal year, we will work to enhance JCM’s performance and overcome challenges facing each of our businesses, while pursuing our two main objectives of maintaining or raising market shares held by the group’s businesses and accelerating the growth of new businesses,” said Mr Kamihigashi in the firm’s annual report. The English-language version of the document was published last week.
JCM reported net sales of approximately JPY30.23 billion (US$268.5 million) for the fiscal year ended March 31, up by 1.6 percent year-on-year. Revenue from sales in the gaming segment accounted for 54.1 percent of total revenue in the period, at JPY16.35 billion.
“During the fiscal year under review, conditions were mixed in the markets in which the JCM group operates, namely the gaming market, the amusement equipment market, as well as the banking, retail and transportation markets,” said the firm’s president.
He added: “Nevertheless, the group successfully carried out growth strategies tailored to each of these markets, offering system-based solutions and expanding product line-ups, among other initiatives.”
The company reported net profit of JPY1.01 billion for the latest fiscal year, compared to JPY358 million in the previous year.
In the annual report, Mr Kamihigashi said the firm has “only limited potential for growth” in both the gaming and the amusement equipment markets.
“Opportunities remain for market growth going forward in countries and regions around the world. In Japan, for example, plans are in place for the construction of new integrated resorts that include casinos,” noted the executive.
Japan’s IR (Integrated Resorts) Implementation Bill is likely now to be delayed until at least the spring of next year due to Japan’s snap election due this month.
JCM’s president said the firm would focus on investment “aimed at releasing new products and cultivating new markets”.
“As economic activity continues to develop and grow rapidly in emerging countries, especially in Asia, we expect demand for the group’s products to continue increasing in these markets,” added Mr Kamihigashi.
Oct 19, 2017New Silkroad Culturaltainment Ltd, a Hong Kong-listed firm that runs a foreigner-only casino in Jeju, South Korea, says it has conditionally agreed to acquire a mainland China-based company that...
Jul 11, 2017The Tokyo local election setback for Japan’s governing...
Jul 06, 2017A multibillion U.S. dollar casino project on Vietnam’s...
Jun 20, 2017Online gaming compliance testing services have become an...
Jun 01, 2017Macau-based casino operator Galaxy Entertainment Group Ltd...
Apr 21, 2017A huge quantity of cameras alone does not ensure...
Total principal amount that Singapore casino operator Genting Singapore aims to raise via the issuance of publicly-offered Japanese yen-denominated bonds