Shinwa Art Auction Co., Ltd. Reports Consolidated Earnings Results for the Nine Months Ended Feb. 28, 2019; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2019; Provides Dividend Guidance for the Fiscal Year Ending May 31, 2019
April 18, 2019 at 11:30 pm EDT
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Shinwa Art Auction Co. Ltd. reported consolidated earnings results for the nine months ended Feb. 28, 2019. For the period, net sales were JPY 2,399 million against JPY 1,572 million a year ago. Operating loss was JPY 24 million against JPY 222 million a year ago. Ordinary loss was JPY 59 million against JPY 268 million a year ago. Net loss attributable to owners of parent was JPY 80 million against JPY 226 million a year ago. Net loss per share was JPY 12.34 against JPY 36.20 a year ago.
For the year ending May 31, 2019, on consolidated basis, the company now expects net sales of JPY 3,000 million, operating income of JPY 74 million, ordinary income of JPY 60 million, income attributable to owners of parent of JPY 50 million or JPY 7.66 per share.
The company provided dividend guidance for the fiscal year ending May 31, 2019. 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, 2019; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2019; Provides Dividend Guidance for the Fiscal Year Ending May 31, 2019
SHINWA WISE HOLDINGS CO.,LTD. 
