Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the Nine Months Ended of February 29, 2016; Provides Consolidated Earnings Guidance for the Year Ending May 31, 2016
April 21, 2016 at 04:00 pm
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Shinwa Art Auction Co., Ltd. reported consolidated earnings results for the nine months ended of February 29, 2016. For the period, the company reported net sales of JPY 2,456 million compared to JPY 1,306 million. Operating income was JPY 134 million compared to operating loss of JPY 122 million a year ago. Ordinary income was JPY 115 million compared to ordinary loss of JPY 131 million a year ago. Income attributable to owners of parent was JPY 33 million compared to loss attributable to owners of parent of JPY 98 million a year ago. Net income per share was JPY 5.89 compared to net loss per share of JPY 17.33 a year ago. Net income before income taxes and minority interests was JPY 91,515,000 compared to net loss before income taxes and minority interests of JPY 131,285,000 a year ago.
The company provided consolidated earnings guidance for the Year ending May 31, 2016. For the period, the company expects net sales to be of JPY 3,297 million. Operating income expected to be of JPY 263 million. Ordinary income expected to be of JPY 247 million. Income attributable to owners of parent expected to be JPY 160 million. Net profit per share expected to be of JPY 27.95.
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 of February 29, 2016; Provides Consolidated Earnings Guidance for the Year Ending May 31, 2016
SHINWA WISE HOLDINGS CO.,LTD. 
