China operations as a pillar of the growth strategy, delivering high growth
First written in FY2016. 12 of 40 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-11-12.
Nihon Flush moved to the "Worse" side of this theme in 2023.
The whole theme swung hardest in 2024: 2 of 6 companies on the "Worse" side.
5 other companies' latest entry also says "Advanced".
- 2026-11-12AdvancedResults
「Against this backdrop, as announced in the first quarter, the company is pursuing a transformation of its business structure. Specifically, it is working to diversify its products, sales channels and target countries. As a result of these sales efforts in line with this policy, the company is steadily advancing this transformation, including through the signing of contracts and the start of deliveries.」
中国事業の構造改革について、製品・販売先・販売対象国の多様化が契約締結や納入開始に進展した。 - FY2027-H1ReframedAnnual report
「In this restructuring of the China business, we are prioritizing the establishment of a business foundation to support future growth rather than pursuing short-term increases in volume, and our plan has incorporated a decline in production and sales volumes from the outset. We view this reform as an important initiative to connect the China business to a new phase of growth, rather than simply rebuilding the business. We will transform our products, customers, sales channels and production structure, realize a "second founding" of the China business and return it to a growth trajectory with firm determination.」
The China business has repositioned its strategy from pursuing growth by prioritizing volume expansion to transforming its products, customers, sales channels and production structure in an effort to achieve renewed growth as a "second founding." - 2026-08-10AdvancedResults
「このように、製品及び販売チャネルを大胆に変え、中国における「第２の創業」を目指した挑戦を進めております。」
中国事業の構造改革が、製品・販売チャネルの転換と「第２の創業」という表現を伴う事業領域転換として進展した。 - FY2026ReframedAnnual report
「At the same time, we will shift to a sales strategy that places greater emphasis on credit risk, diversify our product lineup and customer base, and pursue fundamental business-structure reforms to build a stable earnings base.」
The company shifted its focus from its previous emphasis on pursuing high growth by making China a pillar of growth to building a stable earnings base through credit management, diversification of its customer base and product mix, and business-structure reforms. - FY2026-H1WorsenedAnnual report
「In China, the economy remains weak. The downturn in the real estate market continues to create particularly severe conditions, with a negative wealth effect reducing consumers' willingness to spend and young people facing difficulty finding employment. In China, revenue was ¥5,577 million, down 5.1% year on year, while the operating loss was ¥152 million, compared with an operating loss of ¥161 million in the previous year.」
The downturn in China's real estate market and the weak economy continued, and the China segment reported lower revenue and an operating loss. Although the operating loss narrowed slightly from the previous year, difficult conditions continued against the target of achieving high growth by making China a pillar of growth. - FY2025WorsenedAnnual report
「In China, various policies have been introduced by the Chinese government, and signs of recovery have begun to emerge in urban used-home markets, but the downturn in the real estate market is expected to continue for some time. Under these circumstances, in addition to our business alliance in Taiwan, we will seek to increase sales by expanding sales channels, including sales through distribution channels and sales to commercial facilities, while expanding our product lineup. At the same time, we will pursue the collection of receivables and aim for a V-shaped recovery.」
While indicating that the downturn in China's real estate market is likely to continue, the company outlined measures to restore sales through its Taiwan alliance, sales through distribution channels, sales to commercial facilities, product expansion and receivables collection, as well as a target of a V-shaped recovery. Full-year China revenue declined 7.8% year on year and the operating loss was ¥234 million, confirming further performance deterioration against the growth target. - FY2025-H1WorsenedAnnual report
「In China, revenue was ¥5,877 million, down 14.8% year on year, while the operating loss was ¥161 million, compared with operating profit of ¥279 million in the previous year.」
China operations reported a 14.8% year-on-year decline in revenue and changed from operating profit to an operating loss of ¥161 million. Performance deterioration against the target of achieving high growth by making China a pillar of growth progressed. - FY2024-Q3WorsenedAnnual report
「In China, revenue was ¥11,589 million, down 11.5% year on year, while operating profit was ¥752 million, down 3.1%.」
For the first 3 quarters, China segment revenue declined 11.5% and operating profit declined 3.1%, with the decline widening from lower revenue and a slight decrease in operating profit for the first 2 quarters. - FY2024-Q2WorsenedAnnual report
「In China, revenue was ¥6,902 million, down 4.5% year on year, while operating profit was ¥279 million, down 0.3%.」
For the first 2 quarters, China operations reported lower revenue and lower operating profit than in the previous year, with performance deterioration continuing against the target of achieving high growth by making China a pillar of growth. - FY2024-Q1WorsenedAnnual report
「In China, revenue was ¥2,092 million, down 21.4% year on year, while the operating loss was ¥154 million, compared with an operating loss of ¥18 million in the previous year.」
In the first quarter, China revenue declined 21.4% and the operating loss widened from ¥18 million in the previous year to ¥154 million. Performance deterioration against the China growth target progressed. - FY2023WorsenedAnnual report
「In China, revenue was ¥17,771 million, down 27.8% year on year, while operating profit was ¥1,096 million, down 69.9%.」
For the full year, China segment revenue declined 27.8% and operating profit declined 69.9%, confirming that the trend of lower revenue and lower profit seen from the previous year's first 3 quarters continued through the full year. - FY2023-Q3China operations: lower revenue and lower profit for the first 3 quartersAnnual report
「In China, revenue was ¥13,095 million, down 24.4% year on year, while segment profit (operating profit) was ¥776 million, down 72.2%.」
For the first 3 quarters, China segment revenue declined 24.4% and segment profit declined 72.2%, with lower revenue and lower profit continuing. - FY2023-Q2China operations: lower revenue and lower profit for the first 2 quartersAnnual report
「In China, revenue was ¥7,231 million, down 19.7% year on year.」
For the first 2 quarters, China segment revenue declined 19.7% year on year and segment profit also declined 76.6%. China operations changed from a track record of growth to lower revenue and lower profit. - FY2022-Q3AdvancedAnnual report
「The showroom opened inside the Kunshan plant in October last year was very well received and made a significant contribution to sales through distribution channels. Revenue increased by more than 10% year on year.」
In China operations, the showroom inside the Kunshan plant made a significant contribution to sales through distribution channels, and China revenue also increased by more than 10% year on year. - FY2022-Q2AdvancedAnnual report
「In China, revenue was ¥9,009 million, up 34.6% year on year, while segment profit (operating profit) was ¥1,196 million, up 74.6%.」
For the first 2 quarters, China operations reported revenue growth of 34.6% and segment profit growth of 74.6%, changing from lower revenue and lower profit in the previous year to higher revenue and higher profit. - FY2022-Q1China operations: higher revenue and a return to operating profitability in the first quarterAnnual report
「In China, revenue was ¥3,423 million, up 87.7% year on year, while segment profit (operating profit) was ¥260 million, compared with a segment loss (operating loss) of ¥52 million in the previous year.」
China operations moved from an operating loss in the previous year to operating profit, while revenue rose 87.7% year on year. - FY2021China operations: lower revenue and lower profit for the full yearAnnual report
「As a result, revenue in China was ¥20,238 million, down 7.0% year on year, while segment profit (operating profit) was ¥3,090 million, down 11.1%.」
For the full year, China operations reported lower revenue and lower segment profit than in the previous year. - FY2021-Q2China operations: lower revenue and lower profit for the first 2 quartersAnnual report
「In China, revenue was ¥6,693 million, down 15.0% year on year, while segment profit (operating profit) was ¥685 million, down 16.8%.」
For the first 2 quarters, China operations reported lower revenue and lower segment profit than in the previous year. - FY2021-Q1China operations: lower revenue and operating loss amid the COVID-19 pandemicAnnual report
「In China, the first quarter of the current fiscal year, which follows China's January-December accounting year, covered January to March. The Lunar New Year holiday from 18 January to 5 February was the customary extended holiday and had already been factored in, but the COVID-19 pandemic added further disruption. Although the timing varied somewhat by province, factories were subject to restrictions on restarting operations until 10 February. Thereafter, daily temperature checks, mask distribution and mandatory 2-week quarantines for people returning from their home regions were required, and none of the plants reached full-scale operations in February. In China, revenue was ¥1,823 million, down 31.3% year on year, while the segment loss (operating loss) was ¥52 million.」
While the company described housing demand in China as firm, China revenue declined 31.3% in the first quarter due in part to delays in the full-scale resumption of plant operations caused by the COVID-19 pandemic, resulting in a segment operating loss of ¥52 million. - FY2020AdvancedAnnual report
「In China, homes with interior finishing became standard as a condition for obtaining permits to start housing construction. In addition to existing customers, we began doing business with 17 new developers and secured a substantial order backlog. In China, revenue was ¥21,773 million, up 39.9% year on year, while segment profit (operating profit) was ¥3,476 million, up 52.0%.」
China operations began doing business with 17 new developers and reported higher revenue and higher profit, with revenue up 39.9% and segment profit up 52.0%. - FY2020-Q3China operations: higher revenue and higher profit for the first 3 quartersAnnual report
「In China, revenue was ¥14,965 million, up 46.0% year on year, while segment profit (operating profit) was ¥2,217 million, up 62.1%.」
For the first 3 quarters, China segment revenue rose 46.0% and segment profit rose 62.1%, continuing the trend of higher revenue and higher profit. - FY2020-Q2China operations: higher revenue and higher profit for the first 2 quartersAnnual report
「In China, revenue was ¥7,870 million, up 43.1% year on year, while segment profit (operating profit) was ¥823 million, up 23.3%.」
For the first 2 quarters, China operations reported revenue growth of 43.1% and segment profit growth of 23.3%, resulting in higher revenue and higher profit year on year. - FY2020-Q1China operations: higher revenue and higher profit in the first quarterAnnual report
「In China, revenue was ¥2,653 million, up 42.0% year on year, while segment profit (operating profit) was ¥223 million, up 70.9%.」
In the first quarter, China operations reported revenue growth of 42.0% and segment profit growth of 70.9%, changing from higher revenue and lower profit in the previous year to higher revenue and higher profit. - FY2019AdvancedAnnual report
「As a result, revenue in China was ¥15,562 million, up 30.9% year on year, while segment profit (operating profit) was ¥2,287 million, up 14.7%.」
The China segment reported higher revenue and higher profit for the full year, with revenue up 30.9% and segment profit up 14.7%, demonstrating high growth. - FY2019-Q3Cumulative third-quarter results: higher sales but lower profitAnnual report
「China (¥ thousands) 10,253,606 124.7% / Segment profit 1,367,736」
For the first 3 quarters, China segment revenue rose 24.7% year on year, while segment profit declined from ¥1,467,961 thousand in the previous year to ¥1,367,736 thousand. - FY2019-Q2China operations: higher revenue and higher profit for the first 2 quartersAnnual report
「China (¥ thousands) 5,500,234 126.2% / Segment profit 668,268」
For the first 2 quarters, China segment revenue rose 26.2% year on year and segment profit also exceeded the year-earlier level, changing from higher revenue and lower profit in the previous quarter to higher revenue and higher profit. - FY2019-Q1China operations: higher revenue, lower profitAnnual report
「In China, although transactions in first-tier cities such as Beijing and Shanghai were beginning to slow as a result of tighter government monetary policy and restrictions on home purchases, the housing market continued to expand against a backdrop of population growth in urban areas, while housing inventory adjustments gradually progressed in small and medium-sized regional cities. In China, revenue was ¥1,878 million, up 19.2% year on year, while segment profit (operating profit) was ¥130 million, down 13.9%.」
While the company continued to expand the Chinese market and sales activities, the China segment reported higher revenue but lower profit year on year due to environmental-protection investments and higher fixed costs. - FY2018AdvancedAnnual report
「In China, we will continue steadily implementing various measures to secure high growth by proactively pursuing opportunities in favorable markets. In China, revenue was ¥11,885 million, up 31.6% year on year, while segment profit (operating profit) was ¥1,993 million, up 25.1%.」
The company continued to target high growth in China, reporting full-year revenue growth of 31.6% and segment profit growth of 25.1% in the China segment. - FY2018-Q3RestatedAnnual report
「Against this backdrop, our group has actively worked to secure market share among major, leading developers advancing the development of homes with interior finishing, and to acquire new customers, through sales offices in 25 major cities.」
Making China operations a pillar of its growth strategy, the company continues to secure market share for homes with interior finishing and acquire new customers through sales offices in 25 major cities. - FY2018-Q2RestatedAnnual report
「Against this backdrop, our group has actively worked to secure market share among major, leading developers advancing the development of homes with interior finishing, and to acquire new customers, through sales offices in 25 major cities.」
The company continues to secure market share among major developers promoting homes with interior finishing in China and to acquire new customers. - FY2018-Q1RestatedAnnual report
「We are also actively expanding sales through distribution channels using agents to strengthen sales to customers purchasing skeleton units, consisting only of the structural frame without interior finishing, which account for most of China's condominium market. We have now secured 48 agents with showrooms in major cities. In addition to working to build a network of 100 agents, we are steadily laying the groundwork for growth, expansion and stability, including by establishing dedicated production lines at each plant.」
The company maintained its policy of making China operations a pillar of growth and expansion, continuing to outline measures including 48 agents in major cities, the construction of a 100-store network and dedicated production lines at each plant. - FY2017RaisedAnnual report
「As part of our growth strategy, we are actively expanding sales through distribution channels using agents to strengthen sales to customers purchasing skeleton units, consisting only of the structural frame without interior finishing, which account for most of China's condominium market. We have now secured 48 agents with showrooms in major cities. We are working to build a network of 100 agents and steadily laying the groundwork for growth, expansion and stability.」
The company maintained its policy of making China operations a pillar of its growth strategy, explicitly setting a target of expanding its agent network from 48 locations to 100 stores and specifying its growth target. - FY2017-Q3AdvancedAnnual report
「Furthermore, in June this year, we established 吉屋（煙台）集成建筑科技有限公司, a joint venture for residential interior construction, and are currently conducting sales activities smoothly. In July, we also established 吉屋（青島）家居有限公司, a company that manufactures and sells kitchen sinks, washbasins, storage boxes and other products. Construction of its plant is currently under way, and operations are scheduled to begin in July 2017. Combining the existing Kunshan, Qingdao and Yichun plants, our group will enter the next fiscal year with the two companies fully operational. Including general housing-equipment sales, we will have a construction and product-supply structure in place and aim to achieve accelerated business expansion in China's residential market as a building-materials group.」
The interior-construction joint venture was conducting sales activities smoothly, while plant construction was under way at the housing-equipment manufacturing and sales company, with operations scheduled to begin in July 2017. The plan to expand the China business by combining the existing 3 plants with the 2 companies had advanced to the stage of having a specific start date for operations. - FY2017-Q2AdvancedAnnual report
「Furthermore, on 16 June this year, we established 吉屋（煙台）集成建筑科技有限公司, a joint venture for residential interior construction, and began sales activities. On 7 July this year, we established 吉屋（青島）家居有限公司, a company that manufactures and sells kitchen sinks, washbasins, storage boxes and other products. Combining the Kunshan, Qingdao and Yichun plants, our group will enter the next fiscal year with the two companies fully operational. Including general housing-equipment sales, we will have a construction and product-supply structure in place and aim to achieve accelerated business expansion in China's residential market as a building-materials group.」
The company established interior construction and housing-equipment manufacturing companies and began sales activities, advancing to the stage of fully operating a construction and product-supply structure combining the existing 3 plants in the next fiscal year and expanding its business in China. - FY2017-Q1AdvancedAnnual report
「Going forward, once the two joint ventures are fully operational, as a residential interior construction company and a housing-equipment manufacturer, we will pursue accelerated expansion in the Chinese market through a construction and product-supply structure that combines the existing Kunshan, Qingdao and Yichun plants.」
The company established two joint ventures, one for interior construction and one for housing-equipment manufacturing, and specified a policy of accelerating expansion in the Chinese market by combining them with its existing 3 plants. - FY2016First statedAnnual report
「We will continue making proactive investments and maximize the benefits of those investments to achieve high growth.」
The company positions its China operations as a pillar of its growth strategy and aims to achieve high growth by capitalizing on the benefits of its investments.