Worth reading
42Recurring
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
21
¥ million (narrowing of operating loss)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending May 20275 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥188 million-9.0%
Operating profit¥-181 million
Ordinary income¥-186 million
Net income¥-186 million
Gross Profit Margin50.1
Selling, general and administrative expenses¥276 million
Results for the three months of the current quarterRevenue of ¥188 million, operating loss of ¥181 million, ordinary loss of ¥186 million, and quarterly net loss of ¥186 million. The period covered was June to August.
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Impact of the decline in revenue¥-8 million
- Higher gross profit margin¥5 million
- Decrease in SG&A expenses¥24 million
New initiatives
- Resolved to absorb Shinwa Auction Co., Ltd. The effective date is scheduled for 1 December 2026.
- The head office is scheduled to relocate to Ariake Central Tower in February 2027.
- Art-backed loan operations are scheduled to begin in the fiscal year ending May 2028.
Key KPIsA metric the company considers important as a management benchmark.
- Auction transaction volume¥554 millionYear on year against the same period last year+1.1%
- Number of lots sold1,012 itemsYear on year against the same period last year+63.5%
- Sell-through rate87.8 %Year on year against the same period last year+3.7%
- Auction revenue¥119 millionYear on year against the same period last year+3.5%
Segment results
Auction business revenue: ¥119 million (+3.5% year on year); private sales: ¥60 million (-26.6%); Other (art-related business): ¥2 million (-7.8%); other businesses: ¥6 million (-5.9%). Segment profit: Not disclosed.Medium-term management plan targets
Complete the structural reforms and transition to the new operating structure in the fiscal year ending May 2027, launch art-backed loan operations in the fiscal year ending May 2028, and expand recurring revenue and establish a stable earnings base in the fiscal year ending May 2029. Numerical targets: Not disclosed.| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending May 2027 |
| Net Sales | ¥188 million (YoY -9.0%) |
| Operating profit | ¥-181 million |
| Ordinary income | ¥-186 million |
| Net income | ¥-186 million |
| Gross Profit Margin | 50.1 |
| Selling, general and administrative expenses | ¥276 million |
| Results for the three months of the current quarter | Revenue of ¥188 million, operating loss of ¥181 million, ordinary loss of ¥186 million, and quarterly net loss of ¥186 million. The period covered was June to August. |
| Segment results | Auction business revenue: ¥119 million (+3.5% year on year); private sales: ¥60 million (-26.6%); Other (art-related business): ¥2 million (-7.8%); other businesses: ¥6 million (-5.9%). Segment profit: Not disclosed. |
| Breakdown of Factors Affecting the Change | Factors Impact of the decline in revenue / Amount ¥-8 million, Factors Higher gross profit margin / Amount ¥5 million, Factors Decrease in SG&A expenses / Amount ¥24 million |
| Key KPIs | Indicator Auction transaction volume / Value ¥554 million / Year on year against the same period last year ¥1.1 million, Indicator Number of lots sold / Value 1,012 items / Year on year against the same period last year 63.5 items, Indicator Sell-through rate / Value 87.8 % / Year on year against the same period last year 3.7 %, Indicator Auction revenue / Value ¥119 million / Year on year against the same period last year ¥3.5 million |
| Medium-term management plan targets | Complete the structural reforms and transition to the new operating structure in the fiscal year ending May 2027, launch art-backed loan operations in the fiscal year ending May 2028, and expand recurring revenue and establish a stable earnings base in the fiscal year ending May 2029. Numerical targets: Not disclosed. |
| New initiatives | Resolved to absorb Shinwa Auction Co., Ltd. The effective date is scheduled for 1 December 2026., The head office is scheduled to relocate to Ariake Central Tower in February 2027., Art-backed loan operations are scheduled to begin in the fiscal year ending May 2028. |
Items this document does not state (17)
Operating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
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 ¥24 million year-on-year decrease in SG&A expenses contributed to the narrowing of the operating loss. Revenue declined mainly due to lower private sales, but the higher gross profit margin and the absence of the ¥14 million litigation-related loss recognized in the same period of the previous year also contributed to improved profitability.
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.