Japan Cash Machine Co Ltd (JCM), also known as JCM Global, has increased its forecast of net sales for its financial year ending March 31 to JPY30 billion (US$263.45 million) from JPY28 billion. JCM is a supplier of cash handling technology and ticket printers, including equipment for the gaming industry around the world.
The company says its North American gaming business has improved, with growing sales of bill accepter units and printer units. The company speculates the capital investments by American casinos may be triggered by tax revisions in the United States. In addition to the uptick in the U.S. business and a restructuring plan, the company said it expects to exceed its estimates.
The company issued this week a written statement in English saying it had accordingly increased its forecast of annual profit attributable to the owners of its parent company to JPY1 billion from JPY900 million.
In its last financial year JCM made a net profit of JPY924 million on net sales of JPY29.86 billion.
The statement says JCM now expects to have made a profit attributable to the owners of its parent company of JPY980 million on net sales of JPY15.5 billion in its financial second quarter ended September, having forecast before a second-quarter profit of JPY500 million on net sales of JPY14.5 billion. In its financial second quarter last year the company made a profit of JPY453 million on net sales of just under JPY15 billion.
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”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters