Japan Cash Machine Co., a maker of printers and cash processing technology used in the land-based casino industry, and also known as JCM Global, said it will look for business opportunities from Japan’s casino resort sector.
The first integrated resorts in Japan are likely to open at the end of the current decade, according to commentary by would-be promoters.
In its annual report for the fiscal, the group’s president and representative director, Yojiro Kamihigashi, said that JCM will continue to closely monitor trends in Japan’s version of IR and focus on securing orders for gaming and commercial projects to seize opportunities for business growth.
In the gaming industries of the United States and other countries, Covid-19 is contributing to the spread of digital payments. This is leading to an increase in online casinos.
According to its president, JCM was experiencing strong demand for its products and new products that contribute to increased efficiency and labour savings.
The complete transition to a cashless society will take several years, despite this operating change.
Mr Kamihigashi stated that JCM would focus on developing and bringing to market new products that meet evolving needs as quickly as possible, while ensuring a strong residual profit that leads to sustainable growth over the medium to long term.
JCM had a net profit of JPY605.4 million (US$ 4.5 million at current exchange rates) for the financial year ended March 31. A year earlier, a net loss of JPY 7.56 billion was recorded.
The technology supplier gave some commentary on the Osaka and Nagasaki IR proposals that were submitted to the national government by the April 28 deadline.
In his annual report message, the president of JCM said: “Integrated developments that incorporate international conference centers and hotels can contribute to regional growth through the creation of new jobs by increasing the number of foreign tourists.”
Although there are hopes that casinos can provide aStimulus for economic growth to further expand inbound consumption, which had exhibited significant growth before Covid-19, there were deep-seated concerns and considerable opposition in Japanese society.
Japan Cash Machine Co Ltd, a maker of printers and cash processing technology used in the land-based casino industry, says it will look for business opportunities from Japan’s nascent casino resort sector. Covid-19 had accelerated in some parts of the world a trend to either online gaming, or cashless play in bricks and mortar venues. JCM swung back to a net profit, amounting to JPY605.4 million (US$4.5 million) for its financial year ended March 31.