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Japanese auction house Shinwa Art Auction launched its inaugural auction series in Hong Kong today (May 26) through its subsidiary Asian Art Auction Alliance Co Ltd (A|A|A|A). The auction of contemporary art, carpets and decorative art will be held on May 27 and 28 at the Four Seasons Hotel Hong Kong.
Shinwa Art Auction is a significant player in Japan's art auction market. The company, which is listed on the Osaka stock exchange, specialises in Japanese paintings, oil paintings, and ceramics. Its auction events cover a wide range of products and include impressionist paintings, post-impressionist paintings, European decorative art, Japanese antiques, jewellery and watches, contemporary art and wine.
Shinwa Art Auction established its subsidiary in Hong Kong in April 2009 to expand its Asian operation. Explaining the rationale behind setting up a business presence in Hong Kong, Managing Director and CEO of A|A|A|A, Mr Yoichiro Kurata, said, "Located in the heart of Asia, Hong Kong is the best place from which our company can achieve a broad alliance and new developments with the global community to support, expand and vitalise the world art market. The flexible social infrastructure in Hong Kong is an advantage for us in terms of expanding the art business and the city is conveniently located to reach other Asian cities."
Mr Kurata continued, "Our Hong Kong office is a regional headquarters and its prime mission is to expand our client base across Asian countries. Also, we are eager to introduce Western and Japanese contemporary art to Asia and thus, further develop the Asian art market. With the business expansion, we plan to hold two auction events for prestigious items in Hong Kong every year."
Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Andrew Davis, welcomed Shinwa Art Auction's business presence in Hong Kong. He said, "We are delighted to see this auction house set up their business in our city. Hong Kong is an ideal place from which such companies can manage their regional operations. With all of Asia's key markets within five hours' flying time and Mainland China just across the border, business opportunities are always close by."
"May I take this opportunity to wish Shinwa Art Auction every success in its business in Hong Kong. I also wish its auction series launched today a great success," Mr Davis added.
About Shinwa Art Auction
Established in 1989, Shinwa Art Auction is a Japanese auction house listed on the Osaka stock exchange and specialises in Japanese paintings, Japanese oil paintings, and Japanese ceramics. The company set up an overseas subsidiary in Hong Kong, Asian Art Auction Alliance Co Ltd (A|A|A|A), in April 2009. For more information, please visit www.shinwa-art.com or www.aaa-alliance.net.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. We provide free advice and customised services to help your business succeed in our vibrant economy. For more information, please visit www.investhk.gov.hk.
For event photos, please visit http://www.flickr.com/photos/investhk/sets/72157624139376464.
Ends/Wednesday, May 26, 2010
Issued at HKT 20:31
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