Shinwa Art Auction Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending May 31, 2018; Announces Consolidated Earnings Results for the First Quarter Ended August 31, 2017; Provides Consolidated Earnings Guidance for the Six Months of Fiscal Year 2018 and Full Fiscal Year Ending May 31, 2018
November 07, 2017 at 06:30 am
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Shinwa Art Auction Co., Ltd. expects to pay JPY 7.20 per share for the fiscal year ending May 31, 2018.
Shinwa Art Auction Co., Ltd. announced consolidated earnings results for the first quarter ended August 31, 2017. For the quarter, the company's net sales were JPY 301 million against JPY 1,071 million a year ago. Operating loss was JPY 153 million against income of JPY 5 million a year ago. Ordinary loss was JPY 163 million against JPY 2 million a year ago. Net loss attributable to owners of parent was JPY 108 million against JPY 10 million a year ago. Net loss per share was JPY 17.74 against JPY 1.76 a year ago. Net loss before income taxes and minority interests was JPY 163,937,000 against JPY 2,540,000 a year ago.
For the six months of fiscal year ending May 31, 2018, on consolidated basis, the company expects net sales of JPY 2,249 million, operating income of JPY 139 million, ordinary income of JPY 102 million and income attributable to owners of parent of JPY 59 million or JPY 9.88 per share.
For the full year ending May 31, 2018, on consolidated basis, the company expects net sales of JPY 5,960 million, operating income of JPY 432 million, ordinary income of JPY 374 million and income attributable to owners of parent of JPY 227 million or JPY 37.58 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. Provides Dividend Guidance for the Fiscal Year Ending May 31, 2018; Announces Consolidated Earnings Results for the First Quarter Ended August 31, 2017; Provides Consolidated Earnings Guidance for the Six Months of Fiscal Year 2018 and Full Fiscal Year Ending May 31, 2018