Glory Bounces Back

Glory – the Japanese developer of cash handling, management and automation systems for the financial, retail, vending, transportation and gaming sectors – has reported an impressive increase in sales for 2023- 24 and a return to profit, driven largely by a resurgence in the domestic market. This follows an uncertain two years in which performance was hit by supply chain disruption and the global economic downturn.

The company posted net sales of ¥372.5 billion, a 45.6% increase over the previous year. Operating income increased tenfold – from ¥522 million to ¥51.2 billion and EBITDA increased from ¥18 billion to ¥72 billion.

Glory operates in three domestic markets – financial, retail and transportation, and amusement - which together accounted for just over 50% of sales (versus 41% in 2022).

Overseas sales accounted for the other 50%. Sales and profits were up in all four business units – 116% for Financial, 64% for Retail, 86% for Amusement, and 18% for Overseas.