GGRAsia – JCM swings to yearly profit as revenue grows 18pct

JCM swings to yearly profit as revenue grows 18pct

May 30, 2022 Newsdesk Industry Talk, Japan, Latest News

Japan Cash Machine Co Ltd, also known as JCM Global, reported a net profit of JPY605.4 million (US$4.8 million) for its financial year ended March 31. That compares to a net loss of JPY7.56 billion a year earlier, 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, casino printers and other gaming hardware-related devices.

The company reported net sales of JPY20.04 billion in the 12-month period, up 17.8 percent from the prior-year period. Operating income for the period reached JPY568.6 million, compared to an operating loss of nearly JPY2.59 billion a year earlier.

JCM said it would pay a dividend of JPY5.0 per share for the financial year ended March 31, representing a total amount of JPY148 million.

Sales in the group’s global gaming business increased by 25.0 percent year-on-year to JPY10.09 billion. That was mainly due to an increase in activity in the U.S. gaming market, which JCM describes as its “main market”. “The U.S. gaming market continued to be more active than before Covid-19,” said the company, “due in part to progress in vaccination and easing of restrictions on admission to casino facilities.”

JCM said also that casino operators’ “willingness… to invest in equipment recovered significantly” during its latest financial year.

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

Income for the segment was nearly JPY1.48 billion in the 12 months to March 31, compared to a net loss of JPY486.5 million in the prior-year period.

JCM said also that it conducted “aggressive sales activities” for cashless systems and products related to the “expansion and promotion of contactless and non-face-to-face operations.”

In April, JCM said it had integrated its Fuzion system and iVizion bill validator with the “VIP Mobility cashless gaming solution” of Global Payments Gaming Solutions, a division of Global Payments Inc.