GGRAsia – JCM net income up 155 pct in fiscal 1Q

JCM net income up 155 pct in fiscal 1Q

Sep 07, 2015 Newsdesk Industry Talk, Latest News, Top of the deck

Net income at Japan Cash Machine Co Ltd rose 154.8 percent year-on-year in the fiscal first quarter ending June 30, the company said.

Since April, the group – a supplier of cash transaction technologies for the gaming, banking and retail industries – has operated in the global gaming equipment supply market under the name JCM Global.

Net income for the parent in the fiscal first quarter was JPY263.93 million (US$2.2 million) compared to JPY103.58 million in the year-prior period.

The company said the improvement was mainly due to a gain in the value of assets – under a non-operating income heading – that were denominated in foreign currency.

The group’s net sales rose 11.3 percent during the fiscal first quarter, to just under JPY7.15 billion, compared to approximately JPY6.43 billion in the year-prior period. Net income per basic share rose 154.7 percent, to JPY9.78, in the reporting period, from JPY3.84 previously.

The firm said in its announcement: “Operating income fell to JPY260 million (down 8.4 percent year-on-year) primarily due to a decline in the volume of bill validator units sold and [a] lower selling price.”

On August 7, JCM Global announced that printer supplier Nanoptix Inc was buying back JCM’s 49 percent stake in Nanoptix.