Revised forecast
Fiscal year ending May 2026 · Full yearPrevious forecast published 11 July 2025The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
Net sales fell below forecast due to a substantial decline in private-sale transaction volume, among other factors, as the trend of reluctance to consign quality works continued in the art auction market. In addition to the decline in revenue, the recognition of an inventory valuation loss of ¥58.230 million in cost of sales resulted in an operating loss, while commissions paid and other expenses resulted in an ordinary loss. The recognition of an extraordinary loss of ¥46.011 million and other items further resulted in a net loss attributable to owners of the parent.
Litigation-related losses: ¥33.656 million; losses on retirement of fixed assets: ¥11.203 million; total extraordinary loss: ¥46.011 million
| Item | Details |
|---|---|
| Net Sales | ¥2,312 million → ¥1,577 million（-31.8%） |
| Operating profit | ¥80 million → ¥-144 million |
| Ordinary income | ¥80 million → ¥-161 million |
| Profit attributable to owners of the parent | ¥55 million → ¥-237 million |
| Net income per share | 5.01 yen → -21.51 yen |
| Fiscal Period Covered | Fiscal year ending May 2026 |
| Period Covered | Full year |
| Publication date of previous forecast | 11 July 2025 |
| Previous-period results | Net sales: ¥2,067 million; operating income: ¥12 million; ordinary loss: ¥17 million; net loss attributable to owners of the parent: ¥142 million; net loss per share: ¥13.24 |
| Reason for the revision | Net sales fell below forecast due to a substantial decline in private-sale transaction volume, among other factors, as the trend of reluctance to consign quality works continued in the art auction market. In addition to the decline in revenue, the recognition of an inventory valuation loss of ¥58.230 million in cost of sales resulted in an operating loss, while commissions paid and other expenses resulted in an ordinary loss. The recognition of an extraordinary loss of ¥46.011 million and other items further resulted in a net loss attributable to owners of the parent. |
| Details and amount of extraordinary loss | Litigation-related losses: ¥33.656 million; losses on retirement of fixed assets: ¥11.203 million; total extraordinary loss: ¥46.011 million |
| Dividend forecast revision | The Company decided to pay a year-end dividend of ¥0.00 per share for the fiscal year ending May 2026 (no dividend). The latest dividend forecast was undecided. |
| Consolidated / non-consolidated | Consolidated |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The trend of reluctance to consign quality works continued in the art auction market, resulting in a substantial decline in private-sale transaction volume. In addition, the Company recognized an inventory valuation loss of ¥58.230 million, non-operating expenses including commissions paid, litigation-related losses and losses on retirement of fixed assets. In determining the dividend, the Company prioritized restoring its earnings base and financial base in light of the recognition of an operating loss and a net loss attributable to owners of the parent, as well as a deficit in retained earnings.