The life of a traveling merchant is a lonely one, a fact with which Kraft Lawrence is well acquainted. Wandering from town to town with just his horse, cart, and whatever wares have come his way, the peddler has pretty well settled into his routine-that is, until the night Lawrence finds a wolf goddess asleep in his cart. Taking the form of a fetching girl with wolf ears and a tail, Holo has wearied of tending to harvests in the countryside and strikes up a bargain with the merchant to lend him the cunning of "Holo the Wisewolf" to increase his profits in exchange for taking her along on his...

Following his good fortune in Pazzio, Lawrence is confident that he is on the path to realizing his dream of becoming a town merchant. One ill-informed business decision, though, leaves him teetering on the brink of bankruptcy and ruin With no assets to his name - other than the cunning of his fetching traveling companion, Holo the Wisewolf - Lawrence may need to resort to illicit means to put his affairs in order. With all of the merchant's plans hinging on one beautiful young shepherdess - for whose vocation Holo holds no affection - Lawrence's prospects, both personal and professional,...

Continuing their journey north, Lawrence and Holo stop in the village of Tereo in hopes of finding a local abbey where they might uncover more information regarding the fate of Holo's ancient home, Yoitsu. Soon after their arrival, though, the companions are caught up in a local dispute between Tereo and the neighboring town of Enberch that could cost Lawrence and Holo both their fortunes and their lives With the Wisewolf's help, can Lawrence devise a way to save an entire town from ruin - and his skin and that of his traveling companion in the process?

As Holo and Lawrence begin the final leg of their journey, Lawrence decides to accompany Holo to her ancient home of Yoitsu, if only to forestall their parting just a bit longer. Boarding a ship from the port of Lenos (much to the chagrin of the wisewolf, who is none too fond of water ), the pair's fate becomes entangled with that of a boy named Col, whose tale of his circumstances - combined with the gossip of the sailors - leads to a shocking revelation about Holo's homeland

Hearing rumors of a -leg bone of the wolf- being used as an artifact of the Church to showcase its power, Lawrence and Holo head to the site to gather more information. Holo can't just turn away from what might be a relic of her own kind, after all. Of course, upon arrival, the travelers find that the town is the center of a giant trade dispute Seems that Col will be getting a lesson in microeconomics

To obtain a map of the northlands, Lawrence and company leave the Kingdom of Winfiel and return to Kerube. Seeking out a silversmith of notorious reputation, they are introduced to the beautiful Fran Vonely who offers to provide what they seek. However, Fran's map comes with a price-in exchange, the party must travel with her to a village where an angel is said to have alighted and discover the truth behind the legend. But what of the rumor that a witch lives in that very same village...?

This collection of short stories from the world of Spice & Wolf features three new vignettes from Lawrence and Holo's journeys, as well as a novella that follows Norah the shepherdess and her faithful sheepdog, Enek, as they put the city of Ruvinheigen behind them and try to forge a new path for themselves...

Thanks to the silversmith Fran, Lawrence now has a map of the North. But Lawrence's gladness at the thought of finally being able to take Holo back to her home is short-lived, as upon revisiting Lenos he is embroiled in the strife surrounding a forbidden text. It is said that this mysterious book contains details of methods that threaten the land of Yoitsu itself. But in trying to get his hands on the book, Lawrence, who must return to the marketplace, finds himself running out of time to head for Yoitsu with Holo...Pressed into making a decision he may ultimately come to regret, which option...

The Myuri mercenary band--a troop named for one of Holo's old comrades. In order to find them, Lawrence and Holo make for Lesko, a town dominated by the copper-trading Debau Company. Rumors of the Debau Company's schemes to both open more mines and seize control of the northern lands swirl, along with rumors that they're concentrating military power in the town in preparation. But when Lawrence and Holo arrive in Lesko, they discover a surprisingly cheerful and peaceful place. What is really happening? Find out as the final act of Holo the Wisewolf and Lawrence the traveling merchant's long...

The introduction of a new currency in the town of Lesko has filled Lawrence with boundless optimism, but his dreams come to a sudden and harsh end when two men from the Debau Company present him with a grim token-Col's traveling bag. With his young friend's safety threatened and the stability of the town suddenly in doubt, Lawrence's plans to open a shop are dashed. Separated from Holo yet again, he finds himself a forced participant in a desperate scheme to reclaim the Debau Company from the nobility who now control it. But when mercenary armies clash in the mountains, what will become of...