JCM completes US$296k treasury-share disposal for staff remuneration

Japan Cash Machine Co Ltd, also known as JCM Global, says it has completed the disposal of 43,500 treasury shares as restricted share-based remuneration to a group of directors, executive officers, and general managers. JCM, a firm listed on the Tokyo Stock Exchange, makes machines that validate banknotes and handle currency, as well as manufacturing printers for casino gaming machines and other gaming hardware-related devices. The company said in a Thursday filing that the share disposal realised an aggregate amount of just over JPY47.0 million (US$295,915), at JPY1,081 per share. The exercise had been approved by JCM’s board on July 23, with payment completed on August 21. Five eligible directors were allotted an aggregate of 32,000 shares, while six executive officers – not concurrently serving as directors – received a total of 6,000 shares. Another 5,500 shares were allocated to 11 general managers, per the update. The director allocation excluded directors residing overseas, audit and supervisory committee members, and outside directors. Overseas-based executive officers were also excluded from the scheme, according to the announcement. JCM reported a net profit attributable to its owners of nearly JPY1.59 billion for the April to June period, on group net sales that rose 35.1 percent year-on-year, to JPY10.28 billion. In the financial year to March 31 this year, the firm’s net profit was up 23.1 percent year-on-year, to just over JPY4.69 billion.