Business deterioration due to the slowdown in the Chinese economy
First written in FY2017-Q1. 16 of 34 entries say "Worsened", first in FY2018-Q1. Latest entry: FY2027-H1.
Wilson Learning Worldwide moved to the "Worse" side of this theme in 2018, 7 years before the typical company in this theme (2025).
The whole theme swung hardest in 2019: 4 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「In China, we continued to scale back operations toward liquidation.」
We maintained the existing risk assessment, which had shifted from the slowdown in the Chinese economy and lockdowns to the downsizing of operations toward liquidation. - FY2026WorsenedAnnual report
「In China, the Company has begun liquidation procedures and has significantly reduced selling, general and administrative expenses, but the liquidation is taking time and some business activities continue.」
The risks that had centered on the Chinese economy and lockdowns remain in the form of prolonged liquidation procedures and the continuation of some business activities, while operating results moved from a profit in the previous period to a ¥19 million loss. - FY2026-H1WorsenedAnnual report
「In China, the Company has begun winding down the business and has significantly reduced selling, general and administrative expenses, but the liquidation is taking time.」
The China business has been reducing selling, general and administrative expenses in preparation for liquidation, but the liquidation has been prolonged, revenue declined 88.6% year on year, and the business moved from operating profit to operating loss. - FY2025ReframedAnnual report
「In China, revenue declined as selling, general and administrative expenses were significantly reduced in preparation for the liquidation of the business, but the operating loss continued to improve substantially.」
The risks facing the China business shifted from deterioration in performance due to the Chinese economic slowdown and lockdowns to the liquidation and downsizing of the business in light of country risk, together with the resulting improvement in losses. - FY2025-H1ReframedAnnual report
「In China, the Company recorded operating profit for the second consecutive quarter, as it began winding down the business and significantly reduced selling, general and administrative expenses.」
The explanation of the factors behind the deterioration in the China business shifted from an emphasis on the economic slowdown and lockdowns to a focus on downsizing and returning to profitability through the liquidation of the business and reductions in selling, general and administrative expenses. Meanwhile, revenue declined 25.4% year on year. - FY2024-Q1MitigatedAnnual report
「In China, revenue increased and the operating loss narrowed as the economy gradually recovered.」
In China, net sales increased 68.0% year on year as the economy recovered, and the operating loss narrowed from ¥14.978 million in the same period of the previous year to ¥5.507 million. - FY2023-Q3WorsenedAnnual report
「In China, large-scale lockdowns under the zero-COVID policy continued for an extended period in Shanghai and elsewhere during the first quarter of the current consolidated accounting period. Although business performance recovered steadily during the cumulative second quarter, another large-scale lockdown was imposed during the third quarter of the current consolidated accounting period. This resulted in lower revenue and profit.」
In China, after recovering in the second quarter, the business was affected by another large-scale lockdown during the third quarter accounting period. Net sales declined 35.4% year on year, and the operating loss was ¥22.77 million. - FY2023-Q2ReframedAnnual report
「In China, large-scale lockdowns under the zero-COVID policy continued for an extended period in Shanghai and elsewhere during the first quarter of the current consolidated accounting period. Although business performance recovered steadily during the cumulative second quarter of the current consolidated fiscal year, the lockdowns resulted in lower revenue and profit.」
The explanation of the China business shifted to one in which recovery and adverse factors coexisted: business performance showed signs of recovery, while the effects of large-scale lockdowns in Shanghai and elsewhere continued to result in lower revenue and profit. - FY2023-Q1WorsenedAnnual report
「The lockdown had a significant impact on the Group's business activities, resulting in a substantial decline in both revenue and profit.」
In China, prolonged large-scale lockdowns in Shanghai and elsewhere affected actual business activity. Net sales declined 59.5% year on year, and operating results turned from income of ¥6.046 million in the same period of the previous year to a loss of ¥14.978 million. - FY2022WorsenedAnnual report
「However, the impact of a large-scale, prolonged lockdown in Shanghai caused several training projects to be postponed or cancelled toward the end of the fiscal period.」
Although China's economic recovery and revenue growth continued, the large-scale, prolonged lockdown in Shanghai caused training projects at the end of the fiscal period to be postponed or cancelled, and the risk emerged in the results. - FY2022-Q3MitigatedAnnual report
「In China, revenue continued to perform solidly and exceeded the same period of the previous year because economic activity recovered and the sales pipeline was on an upward trend, supported by the effects of marketing through social media and other channels.」
In China, net sales increased 90.8% year on year against a backdrop of recovering economic activity and the effects of marketing through social media and other channels, and operating results turned from a loss to income. - FY2022-Q2MitigatedAnnual report
「In China, revenue continued to perform solidly and exceeded the same period of the previous year because economic activity recovered and the sales pipeline was on an upward trend, supported by the effects of marketing through social media and other channels.」
In China, the recovery in economic activity and the effects of marketing through social media and other channels lifted net sales 57.1% year on year, and the operating loss narrowed from ¥17.742 million in the same period of the previous year to ¥3.41 million. - FY2022-Q1MitigatedAnnual report
「In China, marketing and sales initiatives that had continued since before the pandemic, shifting the target market from global companies to locally owned companies, began to produce results. Together with the recovery in market conditions, this led to a rapid recovery in revenue and a return to profitability.」
Following deterioration amid the slowdown in the Chinese economy and the impact of the novel coronavirus, a shift in the target market toward locally owned companies and a recovery in market conditions lifted net sales 247.3% year on year. Operating results turned from a loss of ¥10.629 million to income of ¥6.046 million. - FY2021MitigatedAnnual report
「In China, infections with the novel coronavirus subsided and economic activity recovered. In addition, marketing activities produced results, including the sales training division's training content winning an award in China, causing the sales pipeline to begin trending upward. Revenue remained relatively firm compared with other segments and exceeded the previous year.」
In China, the easing of infections, recovery in economic activity, award-winning training content, and the results of marketing activities put the sales pipeline on an upward trend. Net sales increased 43.5% from the previous fiscal year. Although the operating loss continued, the loss narrowed from the previous fiscal year. - FY2021-Q3RestatedAnnual report
「In China, revenue remained relatively firm compared with other segments and exceeded the same period of the previous year for the second consecutive quarter because infections with the novel coronavirus subsided, economic activity recovered, and the sales pipeline was on an upward trend.」
In China, revenue continued to exceed the same period of the previous year, supported by the easing of infections, recovery in economic activity, and growth in the sales pipeline. However, the operating loss continued. - FY2021-Q2MitigatedAnnual report
「In China, revenue was relatively firm compared with other segments and exceeded the same period of the previous year because infections with the novel coronavirus subsided, economic activity recovered, and the sales pipeline was on an upward trend.」
In China, the easing of infections, recovery in economic activity, and growth in the sales pipeline lifted net sales 15.5% year on year, and the operating loss also narrowed. However, the business did not become profitable. - FY2021-Q1ReframedAnnual report
「In China, revenue remained relatively firm compared with other segments because infections with the novel coronavirus subsided ahead of other countries and the sales pipeline was recovering.」
The explanation of the China business shifted from a focus on U.S.-China trade friction and the slowdown in the Chinese economy to relatively firm performance compared with other regions, supported by the easing of infections and recovery in the sales pipeline. However, net sales declined 39.9% year on year, and the operating loss was ¥10.629 million. - FY2020WorsenedAnnual report
「Training budgets for major customers that were global companies headquartered in Europe or the United States declined because of U.S. protectionist policies. Although we continued efforts to strengthen the sales organization, including enhanced web marketing to generate sales leads among local Chinese companies, the business did not reach a recovery trend. In addition, the novel coronavirus had a significant impact throughout the fourth quarter.」
In China, in addition to declining customer training budgets, the novel coronavirus affected the entire fourth quarter, and the business did not enter a recovery trend despite efforts to strengthen the sales organization and advance web marketing. The operating loss was ¥56.172 million. - FY2020-Q3MitigatedAnnual report
「In China, despite the effects of the slowdown in the Chinese economy and the ongoing strengthening of the sales organization, revenue was slightly higher than in the same period of the previous year.」
In China, the effects of the economic slowdown and the ongoing strengthening of the sales organization continued, while net sales increased 5.9% year on year and the operating loss narrowed from ¥37.253 million to ¥34.93 million. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the corporate training market in the United States remained relatively firm, but the prolonged U.S.-China trade friction made the stagnation of the Chinese economy more pronounced.」
The stagnation of the Chinese economy became more pronounced, and the impact on existing customers continued. China's net sales declined 1.8% year on year, but the operating loss narrowed from the same period of the previous year. - FY2020-Q1MitigatedAnnual report
「In China, existing customers continued to be significantly affected by U.S. tariff policies, as in the previous fiscal year, but the sales pipeline is showing signs of recovery.」
Although the impact of U.S. tariff policies on existing customers continued, the sales pipeline began to recover. China's net sales increased 15.7% year on year, and the operating loss narrowed from the same period of the previous year. - FY2019WorsenedAnnual report
「During the current consolidated fiscal year, we newly hired sales managers and continued efforts to strengthen the sales organization, including enhanced web marketing to generate sales leads. However, the training budgets of major customers that were global companies headquartered in Europe or the United States continued to be substantially reduced or frozen because of U.S. protectionist policies.」
Although we advanced the recruitment of sales managers and strengthened web marketing, customer training budgets continued to decline or remain frozen. China's net sales declined 44.0% from the previous fiscal year, and the operating loss was ¥52.529 million. - FY2019-Q3WorsenedAnnual report
「The training budgets of major customers that were local subsidiaries of global companies headquartered in Europe or the United States have remained substantially reduced or frozen because of U.S. protectionist policies. We were unable to offset this decline, resulting in a substantial decrease in revenue compared with the cumulative third quarter of the previous consolidated fiscal year and an increase in the operating loss.」
In China, customer training budgets continued to decline or remain frozen because of the impact of protectionist policies, and new sales could not offset the shortfall. Net sales declined 43.2% year on year, and the operating loss was ¥37.253 million. - FY2019-Q2WorsenedAnnual report
「Although we continued efforts to overhaul and strengthen the sales organization, the training budgets of customers that were local subsidiaries of global companies headquartered in Europe or the United States were substantially reduced or frozen because of U.S. protectionist policies. New orders could not offset this decline, and we again recorded an operating loss in the cumulative first quarter of the current consolidated fiscal year.」
In China, customer training budgets were substantially reduced or frozen because of U.S. protectionist policies, in addition to the existing economic slowdown, and new orders could not offset the impact. Net sales declined 43.3% year on year, and the operating loss was ¥27.944 million. - FY2019-Q1WorsenedAnnual report
「Although inbound projects from overseas increased substantially from the previous fiscal year, the purchasing plans of major multinational companies with which we had direct contracts in China were scaled back or cancelled because of the impact of the Trump administration's trade policies, significantly affecting the cumulative first quarter of the current consolidated fiscal year. As a result, net sales were ¥16 million, down 22.1% year on year, and the operating loss was ¥13 million, compared with an operating loss of ¥4 million in the same period of the previous year.」
In China, in addition to the previous economic slowdown, U.S. trade policies affected results as major multinational companies scaled back or cancelled purchasing plans, widening the revenue decline and operating loss. - FY2018WorsenedAnnual report
「Revenue fell well below the target because of the slowdown in the Chinese economy. Although we pursued efficiency measures, including SG&A reductions, as in the previous fiscal year, we recorded an operating loss. As a result, net sales were ¥115 million, down 26.1% from the previous fiscal year, and the operating loss was ¥4 million, compared with operating income of ¥4 million in the previous consolidated fiscal year.」
The slowdown in the Chinese economy caused revenue to fall short of its target. Net sales declined 26.1%, and operating results turned from income in the previous fiscal year to a loss. - FY2018-Q3WorsenedAnnual report
「Although we overhauled the sales organization, revenue fell well below the same period of the previous year, partly because of the effects of the slowdown in the Chinese economy. Recruitment costs and other expenses were recorded, resulting in an operating loss.」
The slowdown in the Chinese economy was again explicitly identified as a factor. Net sales declined 27.9% year on year, and operating results turned from income of ¥3 million in the same period of the previous year to a loss of ¥4.816 million. - FY2018-Q2ReframedAnnual report
「Although we worked to overhaul and strengthen our sales organization, revenue declined because we were unable to acquire new major customers. Profit also declined as recruitment costs and other expenses were recorded.」
The focus of the explanation for the deterioration in the China business shifted from the previous emphasis on the downturn in the Chinese economy to the failure to acquire new major customers and recruitment costs associated with strengthening the sales organization. - FY2018-Q1WorsenedAnnual report
「As a result, net sales were ¥21 million, down 35.1% year on year, and the operating loss was ¥4 million, compared with operating income of ¥2 million in the same period of the previous year.」
In China, revenue declined by 35.1%, and operating results also turned from income in the same period of the previous year to a loss, indicating that the effects of the economic downturn had again begun to affect performance. - FY2017-Q3MitigatedAnnual report
「A gradual recovery in the Chinese economy also contributed, and revenue was slightly higher than in the same period of the previous year. Efforts to reduce expenses also improved profitability.」
In China, the economic recovery also contributed, lifting net sales 4.5% year on year, while operating income was ¥3 million. Although the effects of the economic slowdown remained, both revenue and profit improved from the second quarter. - FY2017-Q2MitigatedAnnual report
「Although net sales declined because of the downturn in the Chinese economy, operating income was recorded as a result of lower operating expenses.」
Although the decline in revenue due to the downturn in the Chinese economy continued, cost reductions turned the operating loss in the same period of the previous year into operating income, mitigating the impact on profitability. - FY2017-Q1First statedAnnual report
「In China, in light of the economic slowdown, we plan to implement measures such as consolidating our locations.」
In China, revenue from existing customers declined, resulting in an operating loss.