Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the Nine Months Ended Feb. 28, 2017; Provides Earnings Guidance for the Fiscal Year Ending May 31, 2017
April 27, 2017 at 01:30 pm
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Shinwa Art Auction Co., Ltd. reported consolidated earnings results for the nine months ended Feb. 28, 2017. For the period, net sales were JPY 2,207 million against JPY 2,456 million a year ago. Operating income was JPY 67 million against JPY 134 million a year ago. Ordinary income was JPY 112 million against JPY 115 million a year ago. Income attributable to owners of parent was JPY 100 million against JPY 33 million a year ago. Net income per share was JPY 17.20 against JPY 5.89 a year ago. Net income before income taxes and minority interests was JPY 120.2 million against JPY 91.52 million a year ago.
For the year ending May 31, 2017, on consolidated basis, the company expects net sales of JPY 4,299 million, operating income of JPY 417 million, ordinary income of JPY 382 million, income attributable to owners of parent of JPY 225 million or JPY 39.29 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 Nine Months Ended Feb. 28, 2017; Provides Earnings Guidance for the Fiscal Year Ending May 31, 2017
SHINWA WISE HOLDINGS CO.,LTD. 
