Glory

Basic Information

Stock Code
6457
Industry
Machinery
Category Detail
Commercial & Industrial Machinery
Prefecture
Hyogo Prefecture
Establishment Year
November 1944
Listing Year
November 1983
Official Website
https://www.glory.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
ZOA, Maruo Calcium, Nishibo Electric Machinery, Asahi Rubber, Bando Chemical, Nichia Steel Works, Bunka Shutter, Asaka Industry, Takuma, Tsurumi Manufacturing, Nippon Cash Machine

Overview

Glory, founded in 1944 and headquartered in Himeji City, Hyogo Prefecture, is the world's largest-scale currency handling machine manufacturer, with business strengths in products for financial institutions and biometric authentication technology.

Current Situation

Glory achieved consolidated sales of 372.5 billion yen and operating profit of 14.2 billion yen in the fiscal year ended March 2024, boasting approximately 70% domestic market share and about 60% global share in the currency handling machine industry. Its main products are currency processing equipment for banks, with a focus on developing authentication systems and election-related systems. It has numerous local subsidiaries in Europe and Asia, and solidified its position as the world's largest through the acquisition of German company Talaris. In technological innovation, it is advancing biometric authentication including facial recognition, achieving authentication even with masks. Despite challenges such as financial statement corrections due to embezzlement at a subsidiary in 2022, it is working on strengthening corporate governance and improving financial structure. It is also focusing on regional contribution activities in environmental and social areas, as well as sustainability initiatives, with future management challenges including business expansion and efficiency improvements through IoT utilization. It has also shown positive growth outlook, such as upward revision of net profit through fiscal 2025.

Trivia

Interesting Facts

  • World's largest-scale currency handling machine manufacturer
  • Delivered Japan's first domestically produced coin counter to the Mint Bureau in 1950
  • Succeeded in facial authentication with masks through technological innovation
  • World-first introduction of humanoid industrial robots at Saitama factory
  • No. 2 share in prepaid card market for pachinko parlors
  • Donated multilingual ticket vending machines to Himeji Castle, supporting 6 languages
  • In 2006, inappropriate expenditure issues to right-wing groups came to light
  • In 2022, 2.1 billion yen embezzlement by subsidiary employee revealed
  • Provided products to financial institutions for over 70 years since founding
  • Held naming rights for Budokan as 'Glory Dojo'
  • Global company with bases in about 20 countries worldwide
  • Collaborative production with humanoid robot 'NEXTAGE' from Kawada Industries
  • Track record of providing ballot sorting machine systems for elections
  • Acquired prepaid business from Konami Amusement
  • Absorbed Glory Shoji and changed to current company name

Hidden Connections

  • Company name origin from English translation of '栄' in former name 'Kuni saka Shoji'
  • Advancing manufacturing innovation jointly with Kawada Industries robots
  • Strong ties with financial institutions form long-term business foundation
  • No. 2 position in pachinko prepaid card market following Japan Game Card
  • Strengthened ties with local community through ticket machine donation to Himeji Castle
  • Promoting technology exchange while collaborating with multiple major corporate groups
  • Ongoing establishment of systems for business improvement and governance strengthening
  • Ballot sorting machine technology widely adopted by election management committees nationwide

Future Outlook

Growth Drivers

  • Stable expansion of global currency handling needs
  • Popularization and evolution of facial and biometric authentication technology
  • Increased demand from financial institutions' digital shift
  • Market expansion strategy utilizing overseas M&A
  • 対応 to tourist spot needs with multilingual products
  • Productivity improvements through automation robot introduction
  • Increased demand for products complementing cashless transition
  • Demand for energy-saving products due to strengthened environmental regulations
  • Business efficiency and cost reductions through IT integration
  • Expansion of solution provision to diverse industries

Strategic Goals

  • Achieve 70% global share in currency handling equipment market
  • Strengthen global rollout of biometric authentication systems
  • Full company-wide penetration of sustainability initiatives
  • Realize complete robot automation in manufacturing processes
  • Improve financial soundness and strengthen profit base
  • Customer service innovation through DX promotion
  • Develop new business areas for diverse industries
  • Strengthen coexistence with local communities and social contributions
  • Establish global governance framework
  • Promote employee diversity and work-life balance

Business Segments

Currency Processing Equipment for Financial Institutions

Overview
Provides cash processing systems that enhance efficiency for financial institutions.
Competitiveness
High technological capability with approx. 70% domestic and approx. 60% global market share
Customers
  • Banks
  • Trust Banks
  • Credit Unions
  • Regional Banks
  • Life Insurance Companies
  • Securities Companies
  • ATM Installation Companies
  • Cash Service Providers
Products
  • Cash Deposit/Withdrawal Machines
  • Banknote Counters
  • Coin Sorters
  • Cash Register Change Machines
  • Banknote Exchange Machines
  • Recirculating Deposit/Withdrawal Systems

Equipment for Retail and Distribution

Overview
Provides cash management and sales support systems for store floors.
Competitiveness
Diverse product lineup corresponding to various channels
Customers
  • Retail Stores
  • Convenience Stores
  • Supermarkets
  • Drugstores
  • Restaurant Chains
  • Department Stores
Products
  • Cash Register Change Machines
  • Self-Checkout Machines
  • Ticket Vending Machines
  • Vending Machines
  • Cash Sorting Machines

Prepaid Systems for Gaming Industry

Overview
Provides cashless payment systems for the pachinko industry.
Competitiveness
No. 2 market share in the industry with extensive implementation track record
Customers
  • Pachinko Parlors
  • Pachislot Halls
  • Game Centers
Products
  • Prepaid Card Terminals
  • Charging Machines
  • Settlement Machines

Government and Election Systems

Overview
Deploys ballot processing systems supporting national elections.
Competitiveness
High-precision processing technology and government track record
Customers
  • Local Governments
  • Election Management Committees
Products
  • Ballot Sorting Machines
  • Election Tallying Systems

Industrial Robot Implementation Support

Overview
Track record of humanoid robot implementation at Saitama factory.
Competitiveness
World-first collaborative production between humans and multifunctional robots
Customers
  • Manufacturing Industry
  • Assembly Factories
Products
  • Humanoid Industrial Robots
  • Manufacturing Line Automation Systems

Competitive Advantage

Strengths

  • World's largest-scale currency handling machine manufacturer
  • High domestic and international market shares and sales network
  • Introduction of advanced biometric authentication technology
  • Rich product lineup and numerous patents
  • Strengthened international expansion through European company acquisition
  • Long-term trusted relationships with the financial industry
  • Overwhelming market position with approx. 70% domestic share
  • Development track record of multilingual ticket vending machines
  • Automation with high-function AGN robots
  • Expansion into pachinko industry through subsidiary

Competitive Advantages

  • Leader in currency handling equipment market with approx. 60% global share
  • Independently evolving biometric authentication technology
  • Stable government customer base through ballot sorting machines
  • Customer-close services with diverse sales channels
  • Built global network through overseas M&A
  • Improved manufacturing efficiency through advanced robot introduction
  • High reliability and security for financial institutions
  • No. 2 market position in pachinko prepaid business
  • 対応 to tourist spot needs with multilingual ticket machines
  • Established sustainability promotion framework

Threats

  • Emergence of governance risks such as embezzlement incidents
  • Order reductions due to fluctuations in domestic and international economic conditions
  • Product obsolescence risk from rapid technological evolution
  • Low-price offensives from competitors
  • Profit impacts from exchange rate fluctuations
  • Changes in laws, regulations, and security standards
  • Impacts from global pandemics like COVID-19
  • Intensified market competition from new entrants
  • Adaptation burdens to standard specifications after European integration
  • Rising manufacturing costs due to inflation

Innovations

2024: Provision of Mask-Compatible Facial Recognition System

Overview
Developed a system capable of authentication even with masks in response to the COVID-19 pandemic.
Impact
Achieved improved authentication accuracy in various environments

2023: Development of AI-Equipped Cash Deposit/Withdrawal Machines

Overview
Launched next-generation equipment using AI technology to reduce misrecognition and improve efficiency.
Impact
Significantly reduced customer operational burden

2022: Manufacturing Revolution Using Humanoid Industrial Robot NEXTAGE

Overview
Promoted automation of manufacturing lines through collaborative work between robots and humans.
Impact
Realized productivity improvements and flexible production system

2021: Popularization of Multilingual Ticket Vending Machines

Overview
Improved and provided ticket vending machines supporting 6 languages for inbound foreign tourists.
Impact
Expanded multilingual services at tourist facilities

Sustainability

  • Promotion of environmental load reduction through energy-saving designs
  • Deployment of product donations and support activities to local communities
  • Strengthening of labor safety and health management standards
  • Building of global governance framework
  • Efforts toward recycling and waste reduction
  • Internal activities to promote diversity and inclusion
  • Introduction of eco-logistics
  • Formulation of human rights policy and training support
  • Business efficiency improvements through digital tools
  • Formulation of sustainable procurement standards