Expansion of the Asian business starting with direct sales in China
First written in FY2016. 22 of 37 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2025: 3 of 13 companies on the "Worse" side.
7 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「As a result, revenue was ¥85,562 million, up 25.8% year on year, and operating profit was ¥11,864 million, up 22.2%.」
The Asia business, centered on the Chinese sales subsidiary, posted higher revenue and profit, advancing its expansion through direct sales. Sales in China amounted to ¥77,756 million. - FY2026-H1AdvancedAnnual report
「As a result, net sales were ¥40,931 million, up 26.2% year on year, and operating income was ¥6,044 million, up 19.2%.」
The Asia business, centered on the Chinese sales subsidiary, posted a 26.2% increase in net sales and a 19.2% increase in operating income, advancing the expansion of the Asia business through direct sales. - FY2025AdvancedAnnual report
「As a result, net sales were ¥67,999 million, up 24.0% from the previous fiscal year, and operating income was ¥9,712 million, up 9.3%.」
The Asia business, centered on China and Taiwan, advanced to higher revenue and profit against a backdrop of international tournaments, strong performances by national team players, information dissemination and amateur tournaments. - FY2025-H1AdvancedAnnual report
「As a result, net sales were ¥32,438 million, up 24.7% year on year, and operating income was ¥5,070 million, up 35.9%.」
The Asia business, centered on China and Taiwan, advanced to higher revenue and profit against a backdrop of online sales, strong performances by national team players and regional tournaments. - FY2024AdvancedAnnual report
「As a result, net sales were ¥54,849 million, up 10.4% from the previous fiscal year, and operating income was ¥8,883 million, up 0.7%.」
The Asia business, centered on the Chinese sales subsidiary, posted higher revenue and profit, with operating income moving from a decline in the previous fiscal year to an increase. - FY2024-Q3Higher revenue but lower profit continued, with the revenue growth rate slowingAnnual report
「As a result, net sales were ¥39,290 million, up 6.4% year on year, while operating income was ¥6,007 million, down 18.3%.」
The Asia business continued to post higher revenue but lower profit, with the year-on-year revenue growth rate slowing from 22.6% for the cumulative second quarter to 6.4%. Increased sales of products across a broad price range as the participant base expanded, along with higher marketing expenses and personnel costs, were cited as factors behind the decline in profit. - FY2024-Q2Continued higher sales, lower profitAnnual report
「As a result, net sales were ¥26,005 million, up 22.6% year on year, while operating income was ¥3,730 million, down 16.6%.」
Net sales in the Asia business increased 22.6% year on year, while operating income declined 16.6% due to a deterioration in the Chinese subsidiary's sales mix and increases in marketing expenses and personnel costs. - FY2024-Q1AdvancedAnnual report
「As a result, net sales were ¥11,908 million, up 18.4% year on year, while operating income was ¥1,721 million, down 23.4%.」
The Asia business generated higher revenue, while operating income declined. The recovery in demand in China and the revitalization of the Taiwanese market were reflected in sales. - FY2023-Q3AdvancedAnnual report
「As a result, net sales were ¥36,940 million, up 66.6% year on year, and operating income was ¥7,355 million, up 78.7%.」
The Asia business, centered on the Chinese sales subsidiary, posted a 66.6% increase in net sales and a 78.7% increase in operating income, advancing the expansion of the Asia business through direct sales. - FY2023-Q2AdvancedAnnual report
「As a result, revenue was ¥21,215 million, up 59.0% year on year, and operating profit was ¥4,472 million, up 91.3%.」
The Asia business recorded revenue growth of 59.0% and operating profit growth of 91.3%, driven by the recovery in demand in China and Taiwan, initiatives including online sales, tournaments and product trial events, and the translation effect of a weaker yen. - FY2023-Q1AdvancedAnnual report
「As a result, revenue was ¥10,056 million, up 82.0% year on year, and operating profit was ¥2,248 million, up 207.9%.」
The Asia business, including China and Taiwan, recorded revenue growth of 82.0% and operating profit growth of 207.9%. Expansion progressed further, including market activation by the Chinese sales subsidiary and the start of consolidation of the tennis-ball manufacturing subsidiary. - FY2022-Q3AdvancedAnnual report
「As a result, revenue was ¥22,177 million, up 77.6% year on year, and operating profit was ¥4,116 million, up 176.6%.」
The Asia business, centered on the Chinese sales subsidiary, recorded revenue growth of 77.6% and operating profit growth of 176.6%, with recovery and expansion progressing further. - FY2022-Q2AdvancedAnnual report
「As a result, revenue was ¥13,344 million, up 66.7% year on year, and operating profit was ¥2,338 million, up 118.3%.」
The Asia business, centered on the Chinese sales subsidiary, recorded revenue growth of 66.7% and operating profit growth of 118.3%, as the recovery and expansion of the business driven by direct sales progressed. - FY2022-Q1AdvancedAnnual report
「As a result, revenue was ¥5,524 million, up 61.2% year on year, and operating profit was ¥730 million, up 132.7%.」
The Asia business, including China and Taiwan, recorded revenue growth of 61.2% and operating profit growth of 132.7%, as its recovery and expansion driven by direct sales progressed. - FY2021AdvancedAnnual report
「As a result, revenue was ¥18,276 million, down 3.0% year on year, and operating profit was ¥2,363 million, up 18.2%.」
The Asia business recorded lower full-year revenue but 18.2% growth in operating profit, as the recovery in sales in China and the effects of promotional and online initiatives contributed to results. - FY2021-Q3Lower revenue and higher profit as China recovered and Taiwan remained on the road to recoveryAnnual report
「As a result, revenue was ¥12,488 million, down 8.5% year on year, and operating profit was ¥1,488 million, up 15.6%.」
Sales in China recovered to approximately the previous year’s level, and Taiwan remained on the road to recovery. Across Asia, however, cumulative revenue declined while profit increased due to lower advertising and other expenses. - FY2021-Q2Asia recorded lower revenue but higher profit as China recovered and Taiwan’s revenue declinedAnnual report
「As a result, revenue was ¥8,005 million, down 7.5% year on year, and operating profit was ¥1,071 million, up 28.8%.」
Badminton equipment sales recovered in China through online sales and campaigns, while lower revenue in Taiwan weighed on results. Across Asia, operating profit increased despite lower revenue. - FY2021-Q1Asia recorded lower revenue but higher profit during the pandemicAnnual report
「As a result, revenue was ¥3,428 million, down 9.1% year on year, and operating profit was ¥313 million, up 8.6%.」
The Asia business recorded lower revenue as sales declined in China and Taiwan, but profit increased due to lower selling, general and administrative expenses, including advertising expenses, following the cancellation of tournaments and suspension of promotional activities. - FY2020AdvancedAnnual report
「As a result, revenue was ¥18,835 million, up 9.3% year on year, and operating profit was ¥1,999 million, up 59.1%.」
The Asia business progressed to higher revenue and profit, driven by new products, promotional activities and reinforcement of the sales structure in China and Taiwan. - FY2020-Q3AdvancedAnnual report
「As a result, revenue was ¥13,652 million, up 9.4% year on year, and operating profit was ¥1,288 million, up 61.1%.」
The Asia business recorded revenue growth of 9.4% and operating profit growth of 61.1%, driven by a recovery in sales in China and Taiwan, indicating further progress in its recovery. - FY2020-Q2Higher revenue and profit driven by recovery in China and TaiwanAnnual report
「As a result, revenue was ¥8,659 million, up 5.0% year on year, and operating profit was ¥831 million, up 9.9%.」
The Asia business returned to revenue and profit growth, driven by new products and progress in inventory adjustments in China and a recovery in sales in Taiwan. - FY2020-Q1China recovering locally, but Asia recorded lower revenue and profitAnnual report
「At the Chinese sales subsidiary, sales of badminton rackets, badminton shoes and apparel increased as inventory adjustments from the previous fiscal year came to an end and the subsidiary focused on promotional activities such as product trial events. Sales therefore moved onto a recovery trend in local-currency terms, although they declined slightly due to foreign exchange effects. At the Taiwanese subsidiary, racket production increased in the manufacturing division as sales recovered in China and elsewhere. In the sales division, sales of badminton shoes and apparel recovered, resulting in higher revenue. Gross profit increased slightly, but profit declined as advertising expenses rose due to strategic investment to strengthen communications using various media. As a result, revenue was ¥3,769 million, down 1.4% year on year, and operating profit was ¥288 million, down 19.0%.」
In China, sales moved onto a recovery trend in local-currency terms as inventory adjustments came to an end and promotional activities increased. Production and sales also recovered in Taiwan. However, across the Asia segment, revenue fell 1.4% and operating profit fell 19.0%. - FY2019Full-year revenue and profit down, but China on a recovery trendAnnual report
「As a result, revenue was ¥17,231 million, down 2.5% year on year, and operating profit was ¥1,256 million, down 27.6%.」
The Asia business moved onto a recovery trend from the third quarter onward as inventory adjustments in China progressed, but full-year revenue fell 2.5% and operating profit fell 27.6%. - FY2019-Q3Lower revenue and profit continued despite progress in inventory adjustmentsAnnual report
「As a result, revenue was ¥12,476 million, down 5.8% year on year, and operating profit was ¥799 million, down 30.5%.」
The Asia business continued to be affected by inventory adjustments despite progress in normalization, with revenue down 5.8% and operating profit down 30.5%. - FY2019-Q2RestatedAnnual report
「The Chinese sales subsidiary recorded lower revenue and profit as continuing inventory adjustments from the previous fiscal year led to lower sales of badminton equipment and apparel.」
The Chinese sales subsidiary continues to record lower revenue and profit as ongoing inventory adjustments have reduced sales of badminton equipment and apparel. - FY2019-Q1Revenue and profit continued to declineAnnual report
「As a result, revenue was ¥3,823 million, down 13.0% year on year, and operating profit was ¥356 million, down 21.6%.」
The Asia business was affected by inventory adjustments and sluggish sales in China, with both revenue and operating profit falling below the previous year’s levels. - FY2018Full-year revenue growth with continued profit declineAnnual report
「As a result, revenue was ¥17,681 million, up 1.3% year on year, and operating profit was ¥1,735 million, down 8.6%.」
The Asia business generated higher full-year revenue but lower profit due to inventory adjustments and changes in the sales mix in China, as well as front-loaded expenses at the Indian manufacturing subsidiary. - FY2018-Q3Shift to Lower Revenue and EarningsAnnual report
「As a result, revenue was ¥13,242 million, down 0.1% year on year, and operating profit was ¥1,150 million, down 24.0%.」
The Asia business shifted from higher revenue but lower profit through the previous quarter to lower revenue and lower profit in the current quarter. China’s slowing market, inventory normalization and front-loaded expenses at the Indian manufacturing subsidiary weighed on profit. - FY2018-Q2Revenue increased, but profits decreased.Annual report
「As a result, revenue was ¥9,087 million, up 2.6% year on year, and operating profit was ¥930 million, down 27.5%.」
The Asia business increased revenue but recorded lower operating profit due to changes in China’s sales mix, a weaker renminbi, inventory normalization and front-loaded expenses at the Indian manufacturing subsidiary. - FY2018-Q1AdvancedAnnual report
「As a result, revenue was ¥4,393 million, up 5.3% year on year, and operating profit was ¥454 million, down 31.6%.」
The Asia business increased revenue but recorded lower profit due to higher selling, general and administrative expenses, including costs for personnel development and branding initiatives. - FY2017-Q3AdvancedAnnual report
「As a result, revenue was ¥13,254 million, up 121.6% year on year, and operating profit was ¥1,514 million, up 2.3%.」
Including direct sales by the Chinese sales subsidiary, the Asia business generated revenue of ¥13,254 million and operating profit of ¥1,514 million, representing year-on-year increases in both revenue and profit. - FY2017-Q2AdvancedAnnual report
「As a result, revenue was ¥8,854 million, up 241.4% year on year, and operating profit was ¥1,283 million, up 129.5%.」
In the Asia business, including direct sales by the Chinese sales subsidiary, revenue and operating profit increased substantially year on year. - FY2017-Q1AdvancedAnnual report
「As a result, revenue was ¥4,174 million, up 676.0% year on year, and operating profit was ¥664 million, up 834.5%.」
In the Asia segment, revenue and operating profit increased substantially year on year, driven by growth at the Chinese sales subsidiary. - FY2016First statedAnnual report
「As a result, revenue was ¥10,640 million, up 560.5% year on year, and operating profit was ¥1,912 million, up 447.1%.」
Revenue and operating profit in the Asia segment increased substantially, driven by the start of direct sales by the Chinese sales subsidiary and the popularity of badminton.