Jan 26, 2018 Newsdesk Industry Talk, Japan, Latest News  
Japan Cash Machine Co Ltd (JCM), also known as JCM Global, has adjusted downward its forecast for net sales in the current fiscal year, which runs from April 1, 2017 to March 31, 2018. It said a key reason was a greater than expected deterioration in the amusement equipment market in Japan.
JCM, a firm listed on the Tokyo Stock Exchange, is a supplier of cash handling technology and ticket printers, including equipment for the global gaming market.
In its earnings update issued in a press release, JCM estimated its net sales for the current fiscal year would reach JPY30 billion (US$274.5 million), a 5.7-percent decrease from its previous forecast of JPY31.8 billion. But the firm also estimated its net income would reach JPY1.48 billion for the current fiscal year, i.e., 41 percent higher than its previous forecast of JPY1.05 billion.
Accounting for the latest revisions of its forecast results, JCM said it expected to receive JPY2.25-billion in a settlement relating to a lawsuit filed by a group subsidiary in the United States that had demanded “damage recovery”. JCM gave no further details, citing a confidentiality agreement between those involved.
The firm also noted that it had decided to withdraw from the amusement business – namely the operation of amusement arcades – managed by its subsidiary JCM Systems Co Ltd. With the exit from that market, JCM expects to post an approximately JPY330-million “loss on sales and retirement of non-current assets”.
JCM reported net sales of approximately JPY30.23 billion (US$268.5 million) for the previous fiscal year ended March 31, 2017, a figure up by 1.6 percent year-on-year. For that fiscal year, revenue from sales in the gaming segment accounted for 54.1 percent of total revenue in the period, at JPY16.35 billion.
Apr 20, 2022
Apr 13, 2022
May 20, 2022
May 20, 2022
May 20, 2022
South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
(Click here for more)
”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"
Satoru Aoyama, Akash Gupta and Kalai Pillay
Analysts at credit rating agency Fitch