Impact of Foreign-Exchange Movements and Slowing Chinese Growth on the China Business
First written in FY2017-Q1. 14 of 32 entries say "Restated". Latest entry: FY2027-H1.
Heiwado moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
0 other companies' latest entry also says "Reframed".
- FY2027-H1ReframedAnnual report
「平和堂（中国）有限公司, which operates department stores in Hunan Province, China, reported lower revenue and profit on a yuan basis due to the slowdown in the Chinese economy, intensifying competition in its trading areas and the impact of reduced selling space from major renovations. On a yen basis, revenue increased and profit declined due to the effect of foreign exchange movements.」
The factors affecting the performance of the China business explicitly include the slowdown in the Chinese economy, intensifying competition, major renovations and the foreign exchange difference between the yuan and yen bases. - FY2026WorsenedAnnual report
「平和堂（中国）有限公司, which operates a department store in Hunan Province, China, reported lower revenue and lower earnings due to reduced selling space resulting from major renovations to attract new well-known tenants, in addition to the slowdown in the Chinese economy and intensifying competition within its trading area.」
The slowdown in the Chinese economy, intensifying competition and reduced selling space due to major renovations combined to result in lower revenue and lower earnings in the China business. - 2026-04-02RestatedEarnings
「In addition to the slowdown in the Chinese economy and intensifying competition within the trading area, revenue and profit declined owing to the reduction in sales-floor space caused by large-scale renovations to attract new well-known tenants.」
The company is reconfirming the factors behind lower revenue and profit in its China business: the economic slowdown in China, intensifying competition, and reduced sales-floor space due to renovations. - FY2026-H1WorsenedAnnual report
「平和堂（中国）有限公司, which operates one department store in Hunan Province, China, reported lower revenue and lower earnings due to the slowdown in the Chinese economy, intensifying competition in the surrounding area and reduced operations during renovations.」
The China business reported lower revenue and lower earnings as the slowdown in the Chinese economy, intensifying competition in the surrounding area and reduced operations during renovations coincided. - FY2025-H1RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue because sales at the Wuyi Square store remained sluggish and the Zhuzhou store was closed in the previous fiscal year, but higher earnings because selling, general and administrative expenses at the Zhuzhou store were reduced.」
The disclosure reconfirms the pattern in the China business of lower revenue due to sluggish sales at the Wuyi Square store and the closure of the Zhuzhou store, alongside higher earnings from reduced selling, general and administrative expenses at the Zhuzhou store. - FY2025-Q1ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue because sales at the Wuyi Square store remained sluggish and the Zhuzhou store was closed in the previous fiscal year, but higher earnings because selling, general and administrative expenses at the Zhuzhou store were reduced.」
The China business newly cites lower revenue from the closure of the Zhuzhou store and sluggish sales at the Wuyi Square store, while reporting higher earnings due to reduced selling, general and administrative expenses at the Zhuzhou store. - FY2024ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue due to the reduction of operations following the closure of the Toutang store in the previous fiscal year and the Zhuzhou store at the end of June of the current fiscal year, but higher earnings because selling, general and administrative expenses at unprofitable stores were reduced.」
While lower revenue continued following the closure and reduction of operations at the Zhuzhou store, in addition to the Toutang store, profitability improved due to reduced selling, general and administrative expenses at unprofitable stores. - FY2024-Q2ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue due to the reduction of operations following the closure of the Toutang store in the previous fiscal year and the Zhuzhou store at the end of June of the current fiscal year, but higher earnings because selling, general and administrative expenses at unprofitable stores were reduced.」
The description has changed to a pattern in which the closure of the Zhuzhou store at the end of June of the current fiscal year, in addition to the Toutang store, resulted in lower revenue, while reduced selling, general and administrative expenses at unprofitable stores led to higher earnings. - FY2024-Q1MitigatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue because it closed the Toutang store in May of the previous year, but higher earnings because selling, general and administrative expenses at the Toutang store were reduced.」
Although the closure of the Toutang store resulted in lower revenue, reduced selling, general and administrative expenses led to higher earnings, improving the China business’s profitability. - FY2023RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings as the Chinese government’s zero-COVID policy significantly reduced customer numbers.」
The disclosure reconfirms the decline in customer numbers and lower revenue and lower earnings caused by the Chinese government’s zero-COVID policy as factors affecting the China business’s results. - FY2023-Q1WorsenedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings as the Chinese government’s zero-COVID policy significantly reduced customer numbers.」
In addition to the effects of the slowdown in the Chinese economy and new competing stores, the substantial decline in customer numbers resulting from the Chinese government’s zero-COVID policy materialized as lower revenue and lower earnings. - FY2022-Q3RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher earnings due to the rebound from store closures caused by COVID-19 in the previous fiscal year.」
The disclosure reconfirms the China business’s higher revenue and higher earnings due to the rebound from store closures in the previous fiscal year. - FY2022-Q2RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher earnings due to the rebound from store closures caused by COVID-19 in the previous fiscal year.」
The disclosure reconfirms the China business’s higher revenue and higher earnings due to the rebound from store closures in the previous fiscal year. - FY2022-Q1MitigatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher earnings due to the rebound from store closures caused by COVID-19 in the previous fiscal year.」
The China business improved from lower revenue and lower earnings or a net loss to higher revenue and higher earnings due to the rebound from store closures in the previous fiscal year. - FY2021-Q2ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower ordinary profit, partly due to store closures following the spread of COVID-19 and the closure of unprofitable stores.」
The description of lower revenue and lower ordinary profit in the China business has changed from the impact of new competing stores to one that includes store closures caused by COVID-19 and the closure of unprofitable stores. - FY2021-Q1WorsenedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower ordinary profit, resulting in a net loss, partly due to the impact of store closures caused by COVID-19.」
The situation has deteriorated from lower revenue and lower earnings due to new competing stores and other factors to a net loss resulting from the impact of store closures caused by COVID-19. - FY2020-Q2RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower ordinary profit, partly due to new competing stores.」
The disclosure reiterates that the China business reported lower revenue and lower ordinary profit due to new competing stores. - FY2020-Q1WorsenedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower ordinary profit, partly due to new competing stores.」
In addition to lower revenue caused by new competing stores, the result has changed from the higher ordinary profit reported for the full previous fiscal year to lower ordinary profit, indicating a deterioration in the impact on the China business. - FY2019ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue, partly due to new competing stores, but higher ordinary profit due mainly to lower depreciation expenses following the completion of the five-year depreciation period for the investment to open the AUX Plaza store.」
The factors affecting the China business have changed from the previous effects of renovations at core stores and other factors to lower revenue caused by new competing stores and higher ordinary profit following completion of the five-year depreciation period for the investment to open the AUX Plaza store. - FY2019-Q3RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher ordinary profit, partly due to the effects of renovations at its core stores.」
The disclosure reconfirms that the China business reported higher revenue and higher ordinary profit due to the effects of renovations at core stores and other factors. - FY2019-Q2RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher ordinary profit, partly due to the effects of renovations at its core stores.」
The disclosure reconfirms that the China business reported higher revenue and higher ordinary profit due to the effects of renovations at core stores and other factors. - FY2019-Q1RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher ordinary profit, partly due to the effects of renovations at its core stores and a reduction in vacant tenant space.」
The disclosure reconfirms that the China business reported higher revenue and higher ordinary profit due to the effects of renovations at core stores and a reduction in vacant tenant space. - FY2018ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported higher revenue and higher ordinary profit, partly due to the effects of renovations at its core stores and a reduction in vacant tenant space.」
The description has changed from lower revenue and lower earnings due to the slowdown in the Chinese economy and intensifying competition to higher revenue and higher ordinary profit due to the effects of renovations at core stores and a reduction in vacant tenant space. - FY2018-Q3RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings, partly due to slower growth in the Chinese economy and intensifying competition.」
The disclosure reiterates that slower growth in the Chinese economy and intensifying competition were factors behind lower revenue and lower earnings in the China business. - FY2018-Q2ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings, partly due to slower growth in the Chinese economy and intensifying competition.」
The description of the factors behind lower revenue and lower earnings in the China business has changed from the previous foreign exchange impact and higher labor costs to one that includes intensifying competition. - FY2018-Q1ReframedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings, partly due to slower growth in the Chinese economy and higher labor costs.」
The description of the factors behind lower revenue and lower earnings in the China business has changed from the previous foreign exchange impact and slowdown in the Chinese economy to the slowdown in the Chinese economy and higher labor costs. - FY2017RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings due to the negative impact of foreign exchange movements and slower growth in the Chinese economy.」
The disclosure reiterates that the negative impact of foreign exchange movements and slower growth in the Chinese economy were factors behind lower revenue and lower earnings in the China business. - FY2017-Q3RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings due to the negative impact of foreign exchange movements and slower growth in the Chinese economy.」
The negative impact of foreign exchange movements and slower growth in the Chinese economy continue to be cited as factors behind lower revenue and lower earnings in the China business. - FY2017-Q2RestatedAnnual report
「平和堂（中国）有限公司, which operates retail businesses in Hunan Province, China, reported lower revenue and lower earnings due to the negative impact of foreign exchange movements and slower growth in the Chinese economy.」
The negative impact of foreign exchange movements and slower growth in the Chinese economy continue to be cited as factors behind lower revenue and lower earnings in the China business. - FY2017-Q1First statedAnnual report
「HEIWADO (CHINA) CO., LTD., which operates a retail business in China's Hunan Province, reported lower revenue and lower profit due in part to the negative impact of foreign-exchange movements and slower growth in the Chinese economy.」
States that the negative impact of foreign-exchange movements and slower Chinese growth were reflected in lower revenue and profit at the China business.