Shinwa Wise Holdings (2437), a Japanese art auction group, posted a first-quarter net loss attributable to owners of the parent of ¥186 million on revenue of ¥188 million, down 9.0% from a year earlier, and said it will absorb wholly owned subsidiary Shinwa Auction on Dec. 1, 2026.
The quarter covers June 1-Aug. 31, 2026, the first three months of the fiscal year ending May 2027. Operating loss was ¥181 million and ordinary loss ¥186 million, compared with losses of ¥203 million and ¥210 million a year earlier. Net loss per share was ¥16.96, versus ¥20.67.
In the art-related business, transaction volume fell 5.3% to ¥647.8 million and revenue fell 9.1% to ¥182.2 million. Private sales revenue dropped 26.6% to ¥60.6 million, mainly due to lower diamond sales. Auction revenue rose 3.5% to ¥119.1 million as wine and liquor auctions, not held a year earlier, offset a sharp fall in average hammer prices for modern art and modern ceramics. The company said sellers in Japan's domestic art auction market continued to hold back quality works.
Total assets stood at ¥2.398 billion at the end of August, down from ¥3.532 billion at end-May, while the equity ratio rose to 80.0% from 59.6%. The company kept its full-year forecast of revenue of ¥2.335 billion, up 48.0%, operating and ordinary profit of ¥150 million each, and net profit of ¥102 million, or ¥9.32 per share. The dividend forecast remains undetermined.
The board approved the merger on Oct. 15. Shinwa Wise will be the surviving company and Shinwa Auction will be dissolved, with no shares or cash allotted. As a simplified and short-form merger, it requires no shareholder approval. The company said the move aims to improve efficiency and speed up decision-making, that it will continue the auction business, and that the impact on consolidated results will be minor. Shinwa Auction had standalone revenue of ¥860 million in the year ended May 2026.
The merger is scheduled to take effect on Dec. 1, 2026.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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