DESPITE recent turmoil in the domestic stock market and the continued strengthening of the yen versus all major currencies, the Japan Racing Horse Association (JRHA) Select Sale registered significant gains against those of 2015.

Some 247 yearlings were offered for auction on day one of the Select Sale with 217 lots exchanging hands, registering an almost 88% clearance rate, a minimal decline to that of 2015. However, gross turnover of 8,130,600,000 (€68,700,000) resulted in a 14.44% year-on-year increase, setting a new record for the yearling portion of the two-day sale. The average price each lot attained also increased 10.75% to the equivalent of €317,500.