Glory – a Mixed Picture Across Global Markets

Glory’s annual results, announced last month, showed a 3% drop in sales to ¥217 billion, and a 20% drop in operating income to ¥14 billion.

The company supplies a range of equipment for banknote and coin handling, as well as OEM components for ATMs, vending machines and kiosks, along with maintenance services. Sales of merchandise and finished goods were ¥138.7 billion (down 9.4% year on year), while sales from maintenance services were up by 10.7% to ¥78.6 billion.

The results were impacted by COVID, particular in the company’s US and European markets. In Asia, sales were also depressed despite the economic recovery in China. The company fared better in its home market of Japan.

But the company has also benefited from the sharp increase in demand for contact-free and self-service devices, as well as the maintenance services required to modify systems as a result of the impending introduction of the new 500 yen coin.