GGRAsia – JCM posts US$8.7mln profit in Apr-Dec 2021 period

JCM posts US$8.7mln profit in Apr-Dec 2021 period

Feb 11, 2022 Newsdesk Industry Talk, Japan, Latest News

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net income of JPY1.01 billion (US$8.71 million) for the nine months to December 31. That compares to a net loss of JPY6.44 billion a year earlier, the firm said in an English language version of its quarterly report, published on Wednesday.

JCM Global, a firm listed on the Tokyo Stock Exchange, makes machines that validate banknotes and handle currency, casino printers and other gaming hardware-related devices.

The company reported net sales of JPY14.58 billion in the first three quarters of its fiscal year ending March 31, 2022, up 13.3 percent from the prior-year period. Operating income for the period reached JPY857.0 million, compared to an operating loss of JPY1.76 billion a year earlier.

Sales in the group’s global gaming business increased by 15.9 percent year-on-year to JPY6.98 billion. That was “mainly due to an increase in sales of our products as a result of the continued recovery trend in customer demand for capital investment accompanying the rapid recovery of the U.S. gaming market”.

JCM Global’s gaming business includes the sales of bill validators, recyclers and printers for casinos and original equipment manufacturers.

Net income for the segment was JPY1.23 billion in the nine months to December 31, compared to a net loss of JPY382.5 million in the prior-year period.

On Wednesday, the group also revised upward its earnings forecast for the year ending March 31, 2022. The company said it now expected annual net sales of JPY20.20 billion, up from a previous forecast JPY19.30 billion.

“Net sales are expected to exceed the forecast announced on November 5, 2021, due to demand exceeding the initial forecast, mainly in the global gaming market and overseas commercial market,” stated the firm.

Operating profit is now forecast at JPY550 million, up from JPY350 million; while net profit is expected to reach JPY600 million, an increase from the previous forecast of JPY360 million.