The revenue from Universal’s integrated resort business has greatly contributed to its overall performance. In Q1 2023, this segment recorded a revenue of YEN24.11bn, which is more than double the YEN11.28bn generated in Q1 2022. The increase in property visitors during the quarter, which totaled at 1.4 million, has played a significant role in this growth.
On the other hand, the amusement equipment business experienced a decline in revenue by 31.3%. This can be attributed to the decrease in the number of gaming machines sold during the quarter, which dropped from 37,739 in Q1 2022 to 24,903. While Pachinko machine sales saw a slight increase of 9,774 to 11,866, Pachislot machine sales fell from 35,647 to 13,037.
The cost of sales for the quarter amounted to YEN14.49bn, showing a 19.5% increase compared to the previous year. However, this did not hinder Universal’s gross profit, which rose by 34.5% to YEN21.00bn.
In terms of expenses, selling, general, and administrative expenses rose by 22.2% to YEN16.24bn, contributing to Universal’s operating profit of YEN4.76bn, which is more than double the amount from the previous year.
Non-operating income for the quarter reached YEN2.10bn, with the majority coming from foreign exchange gains totaling YEN1.43bn. However, the total non-operating profit experienced a significant decrease of 85.4% year-on-year. Non-operating expenses fell by 37.4% to YEN3.70bn.
As a result, Universal’s pre-tax profit amounted to YEN3.15bn. After income taxes of YEN212m, the net profit for the year reached YEN2.94bn, showing a decrease of 64.7% compared to the previous year.
