GGRAsia – JCM quarterly gaming sales down 24pct y-o-y, profit dips

JCM quarterly gaming sales down 24pct y-o-y, profit dips

Sep 01, 2023 Newsdesk Japan, Latest News, Top of the deck

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of JPY750 million (US$5.2 million) in the three months to June 30, the first quarter of its current financial year. Such profit was down 19.8 percent year-on-year, the firm said in an English-language version of 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 JPY6.39 billion in its latest quarterly results, up 6.3 percent from a year earlier.

Operating income for the period stood at JPY275 million, a 41.0-percent decline from the prior year. The company said the “shortage of electronic components and increase in transportation costs” were factors impacting its operations.

Sales in the group’s global gaming business fell by 24.2 percent year-on-year in the April to June period, to just above JPY2.66 billion; and segment income was JPY291 million, down 49.3 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, adding however that “supply was running short of demand temporally” due to a “shortage of electronic components, such as semiconductors”.

JCM reported a net profit of nearly JPY3.15 billion in the 12 months to March 31, on net sales that rose by 26.0 percent year-on-year, to JPY25.26 billion.

In June, JCM said it expected consolidate 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.