Summary:
The earnings forecast for the year ending March 31, 2023 has been revised upward by Japan Cash Machine. The revision was based on higher-than- expected sales in the second half of the financial year. JCM increased its net profit projection to 2.3 billion.
Japan Cash Machine Co., also known as JCM Global, has raised its earnings forecast for the year ending March 31, 2023. The revision was based on higher-than- expected sales in the second half of the financial year.
JCM, which is listed on the Tokyo Stock Exchange, makes machines that handle currency, as well as printers for casino gaming machines and other gaming hardware-related devices.
Net sales were expected to be JPY24.4 billion (US$171.0 million) for the 12 months to March 31, according to the firm. That was lower than the previously announced forecast of JPY21.6 billion.
JCM raised its net profit forecast to JPY 2.3 billion, up from its original projection.
It was not certain at the time of our previous earnings forecast disclosure if we would be able to secure semiconductors and other electronic components during the second half of the current fiscal year, according to the firm.
As a result, sales are expected to increase, as the firm said that it had reached a certain point where it had more clarity about its supply chain.
It said that the increase in net sales is expected to be accompanied by an improvement in profits at each stage of the business process.
The company said that it expected its profit margin to decline in the second half of the fiscal year due to rising manufacturing costs and disruptions in the supply chain.
The firm recorded foreign exchange gains as non-operating income during the first half of its fiscal year, according to an English language version of its latest update.
A year earlier, a net loss of JPY 7.56 billion was recorded.