Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-23.7
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 June 2025–31 May 2026ConsolidatedJapanese GAAPNet Sales1,577¥ millionYear on year -23.7%Progress 67.5%
Operating profit-144¥ million
Ordinary income-161¥ million
Net income attributable to owners of the parent-237¥ million
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share△¥21.51
Operating Margin△9.2％
Financial position at period-end
Total assets3,532¥ million
of which net assets 2,110 ¥ millionEquity ratio 59.6%vs. prior year-end -11.1pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating-161
Investment-13
Financials-37
Net change-211
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥1,008 million
Segment revenueArt-related business ¥1,554,119 thousand (YoY -23.7%), Other Businesses ¥23,766 thousand (YoY -22.2%)
Segment profitArt-related business ¥29,262 thousand (YoY -84.9%), Other Businesses ¥-747 thousand
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥2,335 million (YoY +48.0%)
Operating profit¥150 million
Ordinary income¥150 million
Net income¥102 million
Annual Dividend Forecast¥0 → To be determined
Shareholder Return PolicyTarget payout ratio of 30%
Factors Behind Changes in Business Performance
Revenue declined due to the trend of withholding high-quality works from the art auction market and lower transaction volume in private sales. The company also recorded an operating loss following the recognition of a valuation loss on inventories.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 companies / Excluded 0 companies / Company name Not disclosed
Material subsequent eventsNot applicable.
Impairment lossNone recorded for the current period (shown as “—”)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥130 thousand, Reversal of allowance for doubtful accounts ¥249 thousand / Extraordinary loss Loss on Disposal of Fixed Assets ¥11,203 thousand, Provision for allowance for doubtful accounts ¥401 thousand, Litigation-related losses ¥33,656 thousand, Other ¥749 thousand
Depreciation and amortization¥58,966 thousand
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End11,017,818 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 June 2025–31 May 2026 |
| Net Sales | ¥1,577 million (YoY -23.7%) |
| Operating profit | ¥-144 million |
| Ordinary income | ¥-161 million |
| Profit attributable to owners of the parent | ¥-237 million |
| Net income per share | △¥21.51 |
| Operating Margin | △9.2％ |
| Equity ratio | End of the current fiscal period 59.6 / End of previous period 70.7 |
| Total assets | ¥3,532 million |
| Net assets | ¥2,110 million |
| Cash flows from operating activities | ¥-161 million |
| Cash flows from investing activities | ¥-13 million |
| Cash flows from financing activities | ¥-37 million |
| Cash and cash equivalents at end of period | ¥1,008 million |
| Full-year earnings forecast | Net Sales ¥2,335 million (YoY +48.0%) / Operating profit ¥150 million / Ordinary income ¥150 million / Net income ¥102 million |
| Annual Dividend Forecast | ¥0 → To be determined |
| Shareholder Return Policy | Target payout ratio of 30% |
| Segment revenue | Art-related business ¥1,554,119 thousand (YoY -23.7%), Other Businesses ¥23,766 thousand (YoY -22.2%) |
| Segment profit | Art-related business ¥29,262 thousand (YoY -84.9%), Other Businesses ¥-747 thousand |
| Depreciation and amortization | ¥58,966 thousand |
| Impairment loss | None recorded for the current period (shown as “—”) |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥130 thousand, Reversal of allowance for doubtful accounts ¥249 thousand / Extraordinary loss Loss on Disposal of Fixed Assets ¥11,203 thousand, Provision for allowance for doubtful accounts ¥401 thousand, Litigation-related losses ¥33,656 thousand, Other ¥749 thousand |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 11,017,818 Shares |
| Factors Behind Changes in Business Performance | Revenue declined due to the trend of withholding high-quality works from the art auction market and lower transaction volume in private sales. The company also recorded an operating loss following the recognition of a valuation loss on inventories. |
Items this document does not state (5)
Revision to Earnings ForecastPayout ratioRegional salesOrders received and order backlogTreasury Shares at Period-End
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company recorded an ¥58.230 million valuation loss on inventories, including long-stored items, in addition to lower private-sale revenue as the reluctance to consign high-quality works continued in the art auction market.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.