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Saturday, December 2, 2023

Japan Money Machinery, with the No. 1 market share in the world, aims to solve all kinds of social issues with startups.

Japan Cash Machine co.,ltd. is a pioneer in money handling in the casino industry and boasts the No.1 share in the world. The company, which has contributed to maintaining the legal order of money around the world and helping to maintain trust in money and public safety, will conduct an accelerator program with the aim of solving new social issues that are not restricted to existing business domains. Specifically, what kind of startups does the company hope to collaborate with and in what areas does it hope to create new businesses? We interviewed Mr. Takaaki Kobayashi of the New Business Development Department.

*The deadline for applications is Tuesday, November 23, 2021.

Serving a variety of markets in 140 countries

-First of all, please tell us about your business, its features, and its strengths.

Nippon Cashmechanics is a provider of solutions for a variety of markets around the world, including money-handling and financial equipment for 140 countries' banknotes. Applying its globally recognized numismatic technology, the company develops, manufactures, and sells equipment for the ticket vending machines, teller machines, vending machines, and pachinko/pachislot markets in casinos, ATMs, train stations, and other locations around the world.

Although it is a niche market, it is so prevalent in the casino market, including Las Vegas and Macau, that it is said that "Japan Cash Machine (JCM) is the machine that puts money in the machine," and it has taken about 60% of this market share. The company's strengths include banknote identification and differentiation algorithms and sensing technology.

There are three business segments: the "Casino/Gaming Market," the "Financial, Distribution and Transportation Market" in Japan and overseas, and the "Domestic Amusement Center Equipment Market," including pachinko/pachislot machines. In particular, in the "financial, distribution, and transportation market," our products are installed in supermarkets, hospitals, hotels, restaurants, buses, cabs, trains, gas stations, etc., and are therefore closely connected to the lives of many people.

-What is the background behind the introduction of the Accelerator Program?

Learn more about the Accelerator Program

Since money-handling and financial equipment and technology are used in a wide variety of markets, the overall performance of the company has been favorable, as it has been difficult for the company as a whole to be affected by a downturn in any one market.

However, as the needs and market structure for money processing became more diverse with the spread of new payment systems and the growing shift away from casinos, the company wanted to create a new business outside of the existing money processing business.

The challenge there was that we were too specialized in the money processing business to grasp social issues in other areas on our own, and we could not take on new challenges even if we wanted to. Therefore, in October 2020, we established the "New Business Development Department" as an organization under the direct control of the directors, calling together nine top players from each department, including development, production engineering, quality, purchasing, sales, and administration.

We would like to take on the challenge of solving social issues in all areas together with startups, without being restricted to existing businesses and furthermore without using "we've never done it before" as a reason.

▶︎ Application deadline: 20:00, November 23, 2021
▶︎How to enter: Please submit your collaboration proposal through the following link URL.
▶︎ Target companies: all domestic and international startups. Any industry.
▶︎ Participation fee: Free
▶︎ Sponsored by Nippon Cashmechanics Co.

We want to explore the possibilities in all areas. Our doors are wide open.

-You want to take on challenges in areas that are not limited to existing businesses, while utilizing existing technological capabilities and networks. Please tell us about the specific resources you can utilize.

You can take advantage of the technology and know-how developed in the money-handling business, such as research and development, proprietary technology, know-how in the casino market with high barriers to entry, and global supply chain expertise.

In addition, we can utilize the know-how and resources we have accumulated around the world, including domestic and overseas production bases, networks with partner companies, global sales systems, and customer channels, and we are also looking at capital tie-ups as a long-term alliance.

On top of that, what we expect from the startups who apply is a new challenge in an area that we cannot even imagine. As a top runner in monetary processing, we have repeatedly taken on the challenge of new business as an extension of our existing business. This time, however, we would like to take on something completely new.

It can be to work together to solve a social issue that the startup is working on, or it can be to pitch an idea that you want to do but have not been able to realize.We would like to create a new business that looks 5 to 10 years into the future through discussion, so we would love to hear all kinds of ideas!It is.

-What social issues does Nippon Kinyu Kikai want to solve?

At its core, our goal is to improve the lives of people around the world through our solutions. Our goal is to create a social infrastructure that enables people to live their lives with peace of mind.

What we want to achieve is to solve social issues through co-creation with startups

-Finally, do you have a message for startups who are considering applying?

What we want to achieve is to solve social issues through co-creation with startups. Therefore, we would like to partner with startups that are willing to move forward together without stopping to find solutions.

The New Business Development Department, which you will be facing this time, is a team composed of elite members from various divisions who have been assembled to transform the company. Please look forward to their seriousness and enthusiasm.

The company name Nippon Kanei Kikai alone may give the impression of a stiff company, but we have the strength, know-how, technical capabilities, and worldwide resources to have been a pioneer in this niche market.

We would like to utilize them to seriously create new businesses together with startups, so first of all, we would like to hear your stories. We look forward to hearing from startups that want to work with us to address the social issues that need to be solved.

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Tomomi Tamura
He joined Snow Brand Milk Industry in 2000. He then worked for an advertising agency and as a sole proprietor before joining BizReach in 2012. Engaged in content creation, he joined NewsPicks in 2016 as an editor on the BrandDesign team, and is now a freelance writer and editor.


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