Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the Nine Months Ended Feb. 28, 2018; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2018; Provides Dividend Guidance for the Fiscal Year Ending May 31, 2018
April 19, 2018 at 11:30 pm
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Shinwa Art Auction Co., Ltd. reported consolidated earnings results for the nine months ended Feb. 28, 2018. For the period, net sales were JPY 1,572,556,000 against JPY 2,207,153,000 a year ago. Operating loss was JPY 222,193,000 million against JPY 67,712,000 million a year ago. Ordinary loss was JPY 268,518,000 million against JPY 112,760,000 million a year ago. Net loss before income taxes and minority interests was JPY 288,448,000 million against JPY 120,223,000 million a year ago. Net loss attributable to owners of parent was JPY 226,348,000 against JPY 100,808,000 a year ago. Net loss per share was JPY 36.20 against JPY 17.20 a year ago.
For the year ending May 31, 2018, on consolidated basis, the company now expects net sales of JPY 3,050 million, operating loss of JPY 150 million, ordinary loss of JPY 220 million, loss attributable to owners of parent of JPY 230 million or JPY 336.59 per share.
The company provided dividend guidance for the fiscal year ending May 31, 2018. The company expects year-end dividend of JPY 7.20 per share compared to JPY 7.20 per share paid a year ago.
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 Nine Months Ended Feb. 28, 2018; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2018; Provides Dividend Guidance for the Fiscal Year Ending May 31, 2018
SHINWA WISE HOLDINGS CO.,LTD. 
