Shinwa Art Auction Co., Ltd. Announces Year End Dividend for the Year Ended May 31, 2016, Payable on August 31, 2016; Provides Dividend Guidance for the Year Ending May 31, 2017; Reports Consolidated Earnings Results for the Year Ended May 31, 2016; Provides Consolidated Earnings Guidance for the Six Months and Year Ending May 31, 2017
July 25, 2016 at 09:00 pm IST
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Shinwa Art Auction Co., Ltd. announced year end dividend of ¥7 per share, against ¥6 per share paid a year ago, for the year ended May 31, 2016, payable on August 31, 2016.
The company also expects to pay year end dividend of ¥7 per share for the year ending May 31, 2017.
The company reported consolidated earnings results for the year ended May 31, 2016. For the period, the company's net sales were ¥3,898,100,000 against ¥2,948,057,000 a year ago. Operating income was ¥356,293,000 against ¥77,764,000 a year ago. Net income was ¥163,412,000 against ¥11,743,000 a year ago. Net income attributable to owners of parent was ¥164,149,000 against ¥16,368,000 a year ago. Cash flow from operating activities was ¥279,519,000 against ¥490,750,000 a year ago. Purchase of property, plant and equipment was ¥24,480,000 against ¥280,255,000 a year ago. Purchase of intangible assets was ¥6,500,000. Diluted net income per share was ¥28.30 against ¥2.51 a year ago.
For the six months of 2017, the consolidated company expects net sales to be ¥2,069 million. Operating income to be ¥176 million. Income attributable to owners of parent to be ¥98 million or ¥17.12 per share.
For the year ending May 31, 2017, the consolidated company expects net sales to be ¥4,299 million. Operating income to be ¥417 million. Income attributable to owners of parent to be ¥225 million or ¥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. Announces Year End Dividend for the Year Ended May 31, 2016, Payable on August 31, 2016; Provides Dividend Guidance for the Year Ending May 31, 2017; Reports Consolidated Earnings Results for the Year Ended May 31, 2016; Provides Consolidated Earnings Guidance for the Six Months and Year Ending May 31, 2017