Universal Entertainment reported revenue of YEN35.50bn in the first quarter 2023. This represents a 28.0% increase year-on-year.
This was due to the success of Universal’s integrated-resort business. This segment generated revenue of YEN24.11bn in the first quarter, which is more than twice the YEN11.28bn reported in Q1 2020.
The increase was due in part to an increase in the number of property visitors, which reached 1.4 million during the third quarter. This is more than twice the 707 459 recorded over the same period last year.
The revenue from amusement equipment fell by 31.3%. The decline in gaming machines was a result of a drop in sales during the quarter. This is a big difference from the 37,739 units sold in Q1 2020. The number of Pachinko machines sold increased by 9,774 from 11,866 to 13037 annually, while the number Pachislot machines sales decreased from 35,647.
The cost of sales for the third quarter was YEN14.49bn. This represents a 19.5% increase on an annual basis.
Universal’s gross profits reached YEN21.00bn in Q1 2022, an increase of 34.5%.
First quarter results
Universal’s operating profits increased by more than double the amount of last year, thanks to an increase in selling, general, and administrative expenses.
The non-operating income for the quarter totaled YEN2,10bn. The majority of this was foreign exchange gains totaling YEN1.43bn.
The non-operating profits fell by 85.4% in the last year.
Non-operational expenses totaled YEN3,70bn. This represents a fall of 37.4%. Universal’s profit before tax was YEN3,15bn.
After income taxes of YEN212m the net profit for the past year was YEN2,94bn. This is a decline of 64.7% annually.