Shinwa Art Auction Co., Ltd. reported unaudited consolidated and non-consolidated earnings results for the year ended May 31, 2017. For the year, on consolidated basis, reported net sales of JPY 5,348 million compared to JPY 3,898 million a year ago. Operating income was JPY 364 million compared to JPY 356 million a year ago. Ordinary income was JPY 303 million compared to JPY 332 million a year ago. Income attributable to owners of parent was JPY 166 million or JPY 27.89 per diluted share compared to JPY 164 million or JPY 28.30 per diluted share a year ago. Ratio of net income to equity was 8.8% compared to 9.7% a year ago. Ratio of ordinary income to total assets was 5.8% compared to 9.1% a year ago. Cash outflow from operating activities was JPY 1,550 million compared to cash inflow from operating activities of JPY 279 million a year ago. Net income before income taxes and minority interests was JPY 296 million compared to JPY 281.2 million a year ago. Purchase of property, plant and equipment was JPY 871 million compared to JPY 24.5 million a year ago.

For the year, on non-consolidated basis, reported net sales of JPY 1,631 million compared to JPY 1,117 million a year ago. Ordinary income was JPY 35 million compared to JPY 84 million a year ago. Net income was JPY 30 million or JPY 5.09 per diluted share compared to JPY 44 million or JPY 7.64 per diluted share a year ago.

The company provided consolidated and non-consolidated earnings guidance for the six months ending November 30, 2017 and year ending May 31, 2018. For the six months ending November 30, 2017, on consolidated basis, 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 year ending May 31, 2018, on consolidated basis, 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.

For the six months ending November 30, 2017, on non-consolidated basis, expects net sales of JPY 460 million, ordinary income of JPY 2 million and net income of JPY 1 million or JPY 0.18 per share.

For the year ending May 31, 2018, on non-consolidated basis, expects net sales of JPY 1,000 million, ordinary income of JPY 67 million and net income of JPY 54 million or JPY 8.93 per share.