Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended August 31, 2016; Provides Earnings Guidance for the Six Months of 2017 and for the Full Year Ending May 31, 2017
October 26, 2016 at 09:00 am
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Shinwa Art Auction Co., Ltd. reported consolidated earnings results for the first quarter ended August 31, 2016. For the quarter, the company's net sales were JPY 1,071 million against JPY 455 million a year ago. Operating income was JPY 5 million against JPY 47 million a year ago. Ordinary income was JPY 2 million against JPY 51 million a year ago. Income attributable to owners of parent was JPY 10 million against JPY 35 million a year ago. Net income per share was JPY 1.76 against JPY 6.16 a year ago. Net loss before income taxes and minority interests was JPY 2,540,000 against JPY 48,816,000 a year ago.
For the six months of 2017, the company expects net sales of JPY 2,069 million, operating income of JPY 176 million, ordinary income of JPY 160 million and income attributable to owners of parent of JPY 98 million or JPY 17.12 per share.
For the full year ending May 31, 2017, the company expects net sales of JPY 4,299 million, operating income of JPY 417 million, ordinary income of JPY 382 million and income attributable to owners of parent of JPY 225 million or JPY 17.67 per share.
Shinwa Wise Holdings Co Ltd is a Japan-based company mainly engaged in auction related business and energy related business. It has two business segments. Art related segment is divided into auction business and private sale and other business. Auction business holds modern art auctions, modern ceramic art auctions and modern art Part II auctions according to the works and price ranges handled. It also holds auctions of postwar and contemporary art, Western art, wine and liquor, MANGA, brand miscellaneous goods, watches, jewelry and others. Private sales and other businesses mainly involve in private sales of asset defense diamonds as well as paintings, which are negotiated transactions other than auctions. The Other Business segment is engaged in the electricity sales business of solar power generation facilities. In Malaysia, the Company is also engaged in the sales business of palm kernel shells (PKS), which are used as fuel for biomass power generation.
Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended August 31, 2016; Provides Earnings Guidance for the Six Months of 2017 and for the Full Year Ending May 31, 2017
SHINWA WISE HOLDINGS CO.,LTD. 
