Glory Sales Fall Back After New Issue Surge

In April last year, Glory – providers of cash management and automation systems – launched its 2026 Medium Term Management Plan, a three year business transformation project designed to help drive customers’ own digital transformation with best-in-class products and software platforms.

Glory’s annual results for fiscal year 2024, one year into this plan, showed that demand for self-service products to improve labour-saving and operational efficiency remained steady due to soaring labour costs and workforce shortages in Japan and overseas. But the overall performance was muted compared with a stellar 2023, when sales in Japan of hardware and software were turbocharged by preparations for the introduction of Japan’s new banknote series, which took place last July.

Net sales totalled ¥369 billion, a decline of 0.9% compared with the previous year.

Sales in the company’s overseas markets were strong – up by 12.8% in the US, 13.2% in Europe, and 17.3% in Asia. Overall, sales in this segment were ¥210 billion, an increase of 13.4%. Operating income was up 31% to ¥8.4 billion.