GGRAsia – JCM gaming products revenue up 24 pct in fiscal 2Q

JCM gaming products revenue up 24 pct in fiscal 2Q

Nov 25, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck, World

Japan Cash Machine Co Ltd (JCM), a supplier to the global gaming market also known as JCM Global, said net sales in its gaming segment amounted to JPY7.8 billion (US$63.8 million) in the three months to September 30, up by 24 percent year-on-year.

The firm said revenue was boosted by “added sales of printers for gaming despite the decline of sales of existing bill validator units”. Segment income for the period stood at JPY1.2 billion, up 13.4 percent from a year earlier, it added.

JCM is a manufacturer of money processing terminals for casinos, game arcades and other cash transaction-based industries

The company reported group wide net sales of JPY14.5 billion in its fiscal second quarter, up by 8.8 percent year-on-year. The increase was “driven by the contribution of the printer business,” the firm said in an English-language filing this week.

JCM has changed the segmentation of its business starting this fiscal year. Its business is now divided into four segments: global gaming; international commercial; domestic commercial; and equipment for the amusement industry.

In September 2014, JCM completed the acquisition of FutureLogic Inc in a deal worth US$70.6 million, excluding advisory fees. In August this year, the firm said it was selling its 49-percent stake in printer supplier Nanoptix Inc.

Despite higher sales during the three months to September 30, JCM reported a 14.5 percent year-on-year decrease in operating income, to JPY618 million. The firm attributed the decline to lower sales of bill validator units in the North American gaming market and a fall in profits in Europe due to the depreciation of the euro against the U.S. dollar.

Net income for the three months ended September 30 stood at JPY464 million, down 38.9 percent from the prior-year period, the firm said.

JCM said it expects the recovery of demand in the North American gaming market and the launch of new products “to boost earnings” in the fiscal year ending March 31, 2016.