Yen fall hits Kinbasha results

 

Gaming revenues for Kinbasha Gaming International Inc. rose 0.3 percent in yen during the April-June quarter from a year ago but fell 18.3 percent in dollar terms to $18.3 million due to the decline in the yen. The company, whose shares are traded over the counter in New York, reported a net profit of $779,000, reversing a loss of $1.9 million. Kinbasha, which operates 21 pachinko parlors, said it is looking to add more around Tokyo and the Ibaraki prefecture, where most of its parlors now operate. However, it said buying or building new parlors is contingent on attracting new investors to its stock or to buy high-yield convertible bonds, but it said it has yet to obtain financing abroad.