Wiley has been active in China since 1979, and established a sales office in Beijing in 2000 and a sales presence in Shanghai in 2003. Over the past decade, our business in China has evolved steadily from a sales, marketing, and distribution business into a business of content adaptation and, increasingly indigenous publishing. Wiley has developed strong relationships with local Chinese publishers through which we make our content available to readers in the Chinese language, and we are now establishing an editorial presence in China to take advantage of current and forthcoming opportunities.
To date we have licensed about 2,000 titles to Chinese publishers, including Publishing House of Electronics Industry, Chemical Industry Press, Higher Education Press, Tsinghua University Press, China Renmin University Press, China Machine Press Publishing, Postal Telecommunication Press, and several others. The program has grown rapidly and generates significant backlist sales, particularly of P/T titles. Through our 2003 agreement with China Machine Press Publishing, we have licensed 43 For Dummies titles, all strongly branded but adapted for Chinese culture. The success of the venture has confirmed our ability to transfer key brands into China, and an indigenous Chinese For Dummies series is now in the planning stage. Discussion is also underway of employing Wiley Higher Education's eGrade Plus, our Web-based system offering an integrated suite of teaching and learning resources, as a platform for STM content in conjunction with Wiley InterScience.
China is now the largest Asian market for Wiley STM journals and is emerging as a vital source of STM content for a global audience, with a significant percentage of the articles published in some of our international journals originating there. In late 2004, Wiley-VCH formed an agreement with the Shanghai Institute of Organic Chemistry, a part of the Chinese Academy of Sciences, to publish the Chinese Journal of Chemistry, the Institute's flagship journal. The journal is available online through Wiley InterScience.
Wiley provides must-have content and services to professionals, scientists, educators, students, lifelong learners, and consumers worldwide. Wiley is dedicated to serving our customers' needs, while generating attractive intellectual and financial rewards for all of our stakeholders — authors, colleagues, partners, and stockholders.
Founded in 1807, during the presidency of Thomas Jefferson, Wiley has evolved into one of the world's most respected publishing companies. We strongly believe in the enduring value of collaborative relationships, built on a solid foundation of trust and integrity. We strive to be the very best at all that we do, which strengthens our competitive position and results in consistently strong performance.
Wiley's strength is based on the efforts and accomplishments of a diverse group of people who are distinguished by their integrity, creativity, talent, initiative, and dedication.
We are responsible to our customers, who rely on the quality of our products and services to meet their needs. Service must be prompt and efficient and prices should be reasonable.
We are responsible to our authors and partners, who collaborate with us to create high-quality products and services, and who deserve appropriate recognition and compensation for their efforts.
We are responsible to our colleagues, whom we respect as human beings first, professionals second. We must provide a reasonable sense of security, pleasant and safe working conditions, fair compensation and benefit programs, and opportunities for professional growth.
We are responsible to our shareholders, who should realize a fair return on their investments. Investors can rely on a highly capable leadership team and an independent Board of Directors distinguished by their commitment to effective governance, ethical behavior, and integrity in all that we do.
We are responsible to the communities in which we work. These communities should benefit from our good citizenship, including our support of educational and cultural organizations.
GOALS AND STRATEGIES
Wiley has achieved superior results and continues to grow by focusing on three overarching goals:
- Building long-term relationships with our customers
- Increasing profitability, cash flow, and return on investment
- Enhancing Wiley's position as “the place to be” for all of our stakeholders.
We are realizing these goals through the following strategies:
- Exploiting our global positions and brands by collaborating across organizational and geographic boundaries and constantly striving to improve the quality of our products and services around the world
- Capitalizing on the connections among our core businesses – Professional/Trade; Scientific, Technical, and Medical; and Higher Education – to better serve customers and drive growth
- Pursuing partnerships and alliances with highly regarded organizations to add content, services, and capabilities to our portfolio
- Building on our successful track record with acquisitions by consummating transactions that are strategic and financially responsible, and executing our integration plans effectively by adhering to a best practices approach
- Leveraging our investments in technology to create value for our customers, facilitate communication with our stakeholders, and increase productivity throughout the Company.