GGRAsia – JCM half-year gaming sales down nearly 8pct y-o-y

JCM half-year gaming sales down nearly 8pct y-o-y

Nov 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 JPY1.37 billion (US$9.0 million) in the six months to September 30, the first half of its current financial year. Such profit was up 6.2 percent year-on-year, the firm said in its latest update 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 nearly JPY13.32 billion in its latest half-year results, up 8.4 percent from a year earlier.

Operating income for the period stood at JPY919.0 million, a 53.2-percent increase from the prior-year period. The company said the “shortage of electronic components and soaring prices” of gaming equipment components were factors impacting its operations.

Sales in the group’s global gaming business fell by 7.7 percent year-on-year in the April to September period, to just above JPY6.53 billion; but segment income was just below JPY1.08 billion, up 6.0 percent from a year ago.

“Demand for mainstay products, such as bill validator units and printers, remained high,” stated the company referring to its global gaming business.

Sales in the segment were down “due to a lack of supply of parts and products,” but profit rose “due to a decrease in product transportation costs.”

In June, JCM said it expected consolidated net sales of JPY28.60 billion for the fiscal year ending March 31, 2024. It forecast an operating income of JPY1.50 billion, with net income expected to reach JPY1.10 billion.