GGRAsia – JCM quarterly profit soars, as gaming sales nearly double

JCM quarterly profit soars, as gaming sales nearly double

Aug 26, 2022 Newsdesk Industry Talk, Japan, Latest News

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of JPY935.2 million (US$6.8 million) for its fiscal first quarter ended June 30. That compares to a net profit of JPY11.7 million in the prior-year period, the firm said in an English-language version of its quarterly report, 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 JPY6.01 billion in the three-month period, up 46.7 percent from the prior-year period. Operating income for the period reached nearly JPY467.2 million, compared to an operating profit of nearly JPY51.7 million a year earlier.

Sales in the group’s global gaming business increased by 92.6 percent year-on-year, to JPY3.52 billion; and segment income rose by 73.7 percent year-on-year, to JPY575.0 million.

That was mainly due to a “significant increase” in sales of bill validators and printer units in “both the North American and European regions,” said the company.

“Capital investment demand from casino operators and other customers continued to increase in both North America and Europe as economic activity” in those regions “recovered and became more active,” stated JCM.

It added: “In the gaming and commercial markets, where demand for our products has been recovering quickly, we conducted marketing activities to… increase the market share of our products, in addition to multifaceted product proposal activities.”