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Okura reports surge in profit before income tax during second half of 2023

February 29, 2024 Japan Events & AnnouncementsIndustry Updates

The operator of pachinko machines, Okura Holdings, announced a remarkable 569.9 percent growth in earnings before income tax for the second half of 2023, reaching about JPY929 million ($6.1 million).

Benefits from lease modifications, which show the group’s strategy adjustments in response to market realities, are the cause of this growth.

Under trade names including “Big Apple,” “K’s Plaza,” and “SENKURA,” Okura Holdings oversees eleven pachinko and pachislot halls in various parts of Japan, including Chugoku, Kyushu, Kanto, and Kansai.

The firm highlighted the incremental lifting of some COVID-19 constraints by the Japanese government in its annual report for the fiscal year that concluded on December 31, 2023, as a means of reviving social and economic activities.

The popularity of newly introduced gambling machine models, such as the 6.5 Model Pachislot Machines, Smart Slot Machines, and Smart Pachinko Machines, contributed to an increase in customer traffic at most of Okura’s pachinko and pachislot halls in the second half of 2023, despite consumer spending on entertainment being affected by global economic uncertainties.

Financially speaking, Okura’s gross pay-ins rose by 12.5% from the previous fiscal year to surpass JPY16.37 billion ($108.6 million). Over that period, revenue climbed by around 2.7%, or JPY3.19 billion ($21.1 million). In the second half of 2023, operating profit climbed by 348.4% to around JPY1.14 billion ($7.5 million).

In the last six months of 2023, profit before income tax climbed by approximately 569.9 percent, to roughly JPY1.09 billion ($7.2 million). Significant growth was also seen in the profit attributable to the Company’s shareholders, which climbed by approximately 1,140 percent to reach JPY1.11 billion ($7.4 million).

Additionally, the management of Okura declared that starting on January 14, 2024, one of its pachinko and pachislot halls, K’s Plaza Ohato, in Nagasaki City, Nagasaki Prefecture, Japan, will be closed. In order to minimize losses from failed firms, this move aims to focus resources and improve the customer experience at other high-performing locations.

Original story by: Asia Gaming Brief

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