The opening day of the 2026 JRHA Select Sale produced another powerful display of confidence in the Japanese bloodstock market, with demand for the first crop of Equinox, alongside established sires Kitasan Black and the emerging Efforia, driving trade to levels that exceeded industry expectations. The Yearling Session concluded with turnover climbing 13.6% year-on-year despite a slightly lower clearance rate, underlining the depth of buyer confidence across the market.

Following two days of wet weather during inspections, conditions improved at Northern Horse Park on Monday as buyers gathered for the Yearling Session.

The day's opening fireworks came immediately when Hip 21, an Equinox colt out of Green Bananas consigned by Shadai Farm, sold for ¥210,000,000 (US$1,296,297) to Yujiro Inutsuka. The colt is a half-brother to dual Group 1 winner Audarya.

Inutsuka explained that his purchase was the result of extensive inspections of Equinox's first yearlings.

"I am a great supporter of Equinox and was looking for a yearling by Equinox with the highest quality. As I inspected yearlings by Equinox, I judged this is the best Equinox yearling consigned by Shadai Farm. Coincidentally, the birthday of this colt is the same as Equinox. I dream this colt will win the Japanese Derby, which Equinox could not win."

The colt will enter the stable of Takahisa Tezuka.

Elite Families Continue to Command Premium Prices

Outstanding international female families remained a major attraction throughout the session.

Hip 31, a Kitasan Black colt and the first foal of European Champion Juvenile Filly Pretty Gorgeous, realised ¥320,000,000 (US$1,975,309) when purchased by Danox Co. Ltd.

M's Racing secured Hip 35, the first foal from Grade 1 Acorn Stakes winner Search Results, for ¥350,000,000 (US$2,160,494). Search Results had been acquired by Katsumi Yoshida for US$3.6 million at the 2023 Fasig-Tipton November Sale.

Among the international buyers, Sheikh Khalifa Bin Sultan Al Nahyan made a notable first investment in the Thoroughbred industry, paying ¥80,000,000 (US$493,828) for Hip 47, a filly by Real Impact out of In Luxury.

While the Sheikh has owned numerous Arabian horses, this represented his first Thoroughbred purchase. His representative, Hanako Varian, assisted with the acquisition after the Sheikh decided his inaugural Thoroughbred would be Japanese-bred because of his admiration for Japanese racing and culture.

Danox Co. Ltd. returned to secure Hip 51, an Efforia colt out of Petite Folie, for ¥330,000,000 (US$2,037,038). The colt is a half-brother to 2025 G2 Flora Stakes third Taisei Princesse.

West Hills paid ¥170,000,000 (US$1,049,383) for Hip 61, an Orfevre colt from the Grade 3-winning mare Heavenhasmynikki.

Kenju Yoshida said the recommendation from his trainer proved decisive.

"My trainer recommends strongly this colt. While his pedigree suggests he would act well on dirt, I have the impression that he can perform equally well on turf."

Equinox and Kitasan Black Lead the Market

Kitasan Black continued to reinforce his standing among Japan's elite stallions.

Hip 86, a full brother to G1 Satsuki Sho winner Sol Oriens and a half-brother to multiple Group winner Vin de Garde, sold to Group TM for ¥330,000,000 (US$2,037,038).

The highest-priced yearling of the session arrived with Hip 110, an Equinox colt out of Queensland Oaks winner Youngstar. Danox Co. Ltd. secured the colt for ¥420,000,000 (US$2,592,593). The pedigree already includes Group performer Eri King, adding further appeal to one of the most sought-after offerings of the day.

Hip 128, the first foal of Shailene by Saturnalia, brought ¥130,000,000 (US$802,470) from Masaaki Kumeta.

Kumeta linked the purchase to his previous Derby success.

"I won the Japanese Derby in 2009 with Logi Universe, and I hope this colt will become my second Derby winner. When I inspected him at Northern Farm and again this morning in the parade ring, I was convinced he is a very nice individual."

Susumu Fujita paid ¥300,000,000 (US$1,851,852) for Hip 129, another Kitasan Black colt, while Seihou Tanaka purchased Hip 138, an Equinox filly from the European stakes winner Treasuring, for ¥110,000,000 (US$679,013).

Tanaka highlighted both pedigree and physical presence in explaining the purchase.

"She has a wonderful European pedigree. She is a very good mover and has a strong presence. The price was just what I expected. I hope she will take part in the fillies' classics in 2028."

Tomoya Ozasa secured Hip 150, a Kitasan Black colt out of Argentine Oaks winner Romance Sea, for ¥210,000,000 (US$1,296,297).

He suggested the market for the stallion had become more balanced compared with last year.

"I like Kitasan Black and looked for a nice yearling by him. I felt the market was overheated last year, but it has calmed slightly this year. This was my pick of the day. I expect him to compete in major international races such as the Kentucky Derby and the Prix de l'Arc de Triomphe."

Later in the session, Kaneko Makoto Holdings Co. Ltd. paid ¥390,000,000 (US$2,407,408) for Hip 190, an Efforia colt from Grade 2 winner Lady Fog Horn.

Market Outperforms Expectations

Of the 262 yearlings offered, 250 found buyers for total receipts of ¥17,660,000,000. Turnover increased 13.6% compared with 2025, while the average price rose 2.2% to ¥70,640,000. The median climbed 18.2% to ¥52,000,000. The clearance rate finished at 95.4%, down from 99.1% a year earlier.

JRHA Director and Northern Farm owner Katsumi Yoshida said the figures exceeded even optimistic expectations.

"This is the market which is stronger than I expected. As so many buyers visited Northern Farm to inspect yearlings during the past few weeks, I expected a strong market, but the result was better than expected."

His assessment identified the key drivers behind the sale's momentum, a significant indicator of current commercial demand.

"The market was supported by several stallions such as Kitasan Black, Efforia and Equinox. Kitasan Black is a proven stallion, while the first crop of Efforia has made a rocket start. Equinox is still unproven, so it is amazing to see his yearlings prove so popular."

Yoshida also welcomed the continued growth in overseas participation.

"I am very glad to see eight yearlings were bought by international buyers today. Japanese-trained horses have performed very well internationally in recent years, and I understand those successes have attracted overseas buyers."

Attention now turns to Tuesday's Foal Session at Northern Horse Park, where the strength of demand seen on the opening day will again be tested.