GGRAsia – JCM gaming sales up 60pct in 9 months to December

JCM gaming sales up 60pct in 9 months to December

Feb 13, 2023 Newsdesk Japan, Latest News, Top of the deck

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of nearly JPY1.46 billion (US$11.0 million) in the nine months to December 31. Such profit was up 10.8 percent year-on-year, the firm said in quarterly earning highlights published recently.

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 net sales of JPY19.00 billion in the nine-month period, up 30.3 percent from a year earlier. Operating income for the period reached nearly JPY892.0 million, up 4.1 percent from the prior-year period.

Sales in the group’s global gaming business rose by 60.1 percent year-on-year, to JPY11.17 billion; and segment income was up by 7.8 percent, to JPY1.32 billion.

The company said sales of its products during the nine-month period “rose significantly” in North America and Europe, due to an “increase in the number of customers” in those markets.

In November, the company revised upward its earnings forecast, saying it expected net sales of JPY24.4 billion for the 12 months to March 31, 2023. It said the revision was based on higher-than-expected sales in the second half of its financial year, as it had “more clarity” about its supply chain.

JCM reported a net profit of JPY605.4 million for its financial year ended March 31, 2022. That compared to a net loss of JPY7.56 billion a year earlier.