JCM Global revises estimates for revenue, net profit

For the fiscal year ending on March 31, 2024, JCM Global, previously known as Japan Cash Machine Co Ltd, has increased its predicted revenue and net profit.

The business now expects net revenues for the fiscal year that ends on March 31 to be JPY31.50 billion (US$209.7 million), up from JPY30.20 billion. Net profit is expected to reach JPY2.40 billion, 20% more than the prior projection from November 8 of last year.

For the fiscal year that concluded in March 2023, JCM had sales of approximately JPY25.26 billion and a net profit of JPY3.15 billion.

JCM, a company listed on the Tokyo Stock Exchange, manufactures printers for gaming technology and other casino equipment in addition to tools for managing cash and authenticating banknotes.

The firm attributed the rise in net sales and earnings to higher-than-expected demand for its goods, especially for capital investment in North America and Europe.

JCM also raised its prediction for the fiscal year’s final dividend, aiming to pay JPY19.0 per share as opposed to JPY7.0. In addition to an interim dividend of JPY7.0 per share, the business intends to pay an aggregate dividend of JPY26.0 per share for the year ending March 31, 2024. This exceeds the cumulative dividend of JPY10.0 from the preceding fiscal year.

Earlier this month, JCM said that its net profit for the nine months ending December 31 increased by 43.9 percent on an annual basis to around JPY1.69 billion. During the same time last year, the company’s net revenues increased 17.3 percent to little over JPY22.28 billion.

Sales in the group’s worldwide gaming division increased by 3.8 percent annually to slightly under JPY11.60 billion between April and December. Business profit increased by 45.7% from the previous year to over JPY1.93 billion. The firm credited its success to large capital expenditures made in North American and European casino hotels, which increased demand for its conventional items, such as bill validators and printing units.

JCM said last year that it aims to achieve net sales of JPY38.50 billion in the fiscal year ending March 2026 as part of the group’s medium-term management strategy until 2032.

Original story by: GGRAsia