Worth reading
34Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
21
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending May 20274 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, gross profit of ¥94 million, SG&A expenses of ¥276 million, operating loss of ¥181 million, ordinary loss of ¥186 million, and quarterly net loss of ¥186 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decline in private salesImpactRevenue decline
- Decrease in SG&A expenses¥24 millionImpactReduction in Operating Loss
- Absence of the litigation-related loss recognized in the same period of the previous year and other factors¥14 millionImpactNarrowing of quarterly net loss
New initiatives
- Refresh the board of directors
- Absorption merger of Shinwa Auction Co., Ltd. (scheduled effective date: 1 December 2026)
- Head office relocation to Ariake Central Tower (scheduled for February 2027)
- Launch art-backed loan operations in the fiscal year ending May 2028
Key KPIsA metric the company considers important as a management benchmark.
- Number of lots sold1,012 itemsYear on year against the same period last year+63.5%
- Of which: number of wine and liquor lots sold316 items
- Sell-through rate87.8 %Year on year against the same period last yearIncreased from 84.1% to 87.8%
Medium-term management plan targets
- PhasesTurnaroundPeriodSecond half of the fiscal year ending May 2026 to the fiscal year ending May 2027TargetComplete the structural reforms and transition to the new operating structure
- PhasesFull-scale operationsFiscal yearFiscal year ending May 2028TargetLaunch art-backed loan operations
- PhasesEstablishmentFiscal yearFiscal year ending May 2029TargetExpand recurring revenue and establish a stable earnings base
| 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, gross profit of ¥94 million, SG&A expenses of ¥276 million, operating loss of ¥181 million, ordinary loss of ¥186 million, and quarterly net loss of ¥186 million |
| Breakdown of Factors Affecting the Change | Factors Decline in private sales / Amount Not disclosed / Impact Revenue decline, Factors Decrease in SG&A expenses / Amount ¥24 million / Impact Reduction in Operating Loss, Factors Absence of the litigation-related loss recognized in the same period of the previous year and other factors / Amount ¥14 million / Impact Narrowing of quarterly net loss |
| Key KPIs | Indicator name Number of lots sold / Value 1,012 items / Year on year against the same period last year +63.5%, Indicator name Of which: number of wine and liquor lots sold / Value 316 items / Year on year against the same period last year Not disclosed, Indicator name Sell-through rate / Value 87.8 % / Year on year against the same period last year Increased from 84.1% to 87.8% |
| Medium-term management plan targets | Phases Turnaround / Period Second half of the fiscal year ending May 2026 to the fiscal year ending May 2027 / Target Complete the structural reforms and transition to the new operating structure, Phases Full-scale operations / Fiscal year Fiscal year ending May 2028 / Target Launch art-backed loan operations, Phases Establishment / Fiscal year Fiscal year ending May 2029 / Target Expand recurring revenue and establish a stable earnings base |
| New initiatives | Refresh the board of directors, Absorption merger of Shinwa Auction Co., Ltd. (scheduled effective date: 1 December 2026), Head office relocation to Ariake Central Tower (scheduled for February 2027), Launch art-backed loan operations in the fiscal year ending May 2028 |
Items this document does not state (18)
Operating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planSegment resultsUnit 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 operating loss narrowed because SG&A expenses decreased by ¥24 million. The absence of the ¥14 million litigation-related loss recognized in the same period of the previous year and other factors also contributed to the narrowing of the quarterly net loss. The decline in revenue was mainly due to lower private sales.
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.