United (2497) · RiskFirst statedLatest Earnings presentation materials (2026-08-03): "Restated"
Earnings volatility in the tutoring business due to the declining birthrate and seasonality
First written in FY2026. 1 of 2 entries say "Restated". Latest entry: 2026-08-03.
2entries
1years
1from disclosures
How it moved
Same theme, other companies
First-quarter loss due to seasonal fluctuations in student numbers and course revenueA theme 12 companies write about · 12 as a headwind · 0 as a tailwind
The whole theme swung hardest in 2023: 1 of 9 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
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- 2026-08-03RestatedEarnings presentation materials
「There is a seasonal trend (see p. 18), with the first quarter representing the revenue trough. Revenue is expected to expand from the second quarter onward due to seasonal classes and other factors, with full-year results expected to be in line with the earnings forecast.」
The company reconfirms the seasonality of the one-on-one tutoring business, with revenue at its lowest in the first quarter and performance expanding through seasonal classes and other offerings. - FY2026First statedAnnual report
「当社グループの教育事業では個別指導学習塾サービスを提供しており、小学生から高校生を対象としておりますが、その数はいわゆる「少子化」の進行により漸減しており、今後もこの傾向が続くことが予想されております。」
個別指導学習塾事業について、少子化による対象人口の漸減と、夏期・冬期・春期講習への売上集中による四半期業績変動を、独立したリスクとして具体的に開示している。