The second largest operator of pachinko parlors in the whole of Japan, Dynam Company Limited, has reportedly announced that its net profit for the twelve months to the end of March more than doubled to top a very healthy $39 million.
According to a report from Inside Asian Gaming, the Tokyo-headquartered firm detailed that its recent resurgence following a two-year coronavirus-induced slump was due to increased demand in the pachinko market in addition to rising revenues from the trio of aircraft its leases to local airlines.
Dynam Company Limited is directly responsible for 433 pachinko halls in 46 Japanese communities from Hokkaido Prefecture in the north to Okinawa Prefecture in the south and reportedly revealed earlier today that its aggregated revenues for the twelve-month period had swelled by 6.6% year-on-year to about $827.3 million, which reflected an associated 6.7% increase in gross pachinko pay-ins to roughly $3.99 billion. The company purportedly also explained that this performance pushed its net profit up by an impressive 111.5% to approximately $39.3 million with significantly reduced expenses from its machine-operating business.
Reportedly read a statement from Dynam Company Limited…
“In the current fiscal year, the company was able to operate throughout the fiscal year without any industry-wide hall closures, which the company grappled with in April and May of the previous fiscal year. Revenues from the pachinko business this fiscal year did not reach the level of the fiscal year that ended on March 31, 2020 before the spread of coronavirus infection although the company secured a revenue hike from the previous year.”
Despite all of this positive momentum and Dynam Company Limited reportedly advised investors that it now does not expect its annual financials to fully return to pre-pandemic levels for some time. The source noted that the operator moreover proclaimed that it believes its business will not chalk up 2020 levels of revenues and profits before the end of 2024.
The statement from Dynam Company Limited reportedly read…
“The company cannot be optimistic about the business surroundings in the future as there remains concern about the continued spread of infections caused by new variants of coronavirus. Under such circumstances, for all regions where the company operates pachinko halls, there remains negative effects from the emergence of new variants of coronavirus and in consideration of this the company believes that revenues from the pachinko business will return to similar levels of the fiscal year that ended on March 31, 2020 over a few years.”