ZENSHO HOLDINGS CO.,LTD., First Half Ordinary Profit Increases by 60%

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Tue Nov 12, 2024 2:00 pm JST Earnings

7550 ZENSHO HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

ZENSHO HOLDINGS CO.,LTD. <7550> [TSE-P] announced its financial results in the afternoon session on November 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 39.1 billion yen, an increase of 59.6% compared to the same period last year, exceeded the previous forecast of 32.9 billion yen.

The progress rate against the 61.5 billion yen full-year plan was 63.6%, also surpassing the five-year average of 48.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 15.2% from the same period last year to 22.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.7% from the same period last year, reaching 22 billion yen. The operating profit margin improved from 6.7% in the same period last year to 8.2%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	375,724	8,150	13,720	7,358	48.4	48.9	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	452,610	25,477	24,503	15,797	104.2	48.1	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	557,765	41,129	39,103	24,871	153.6	63.6	Nov 12, 2024	J-GAAP
YoY	+23.2%	+61.4%	+59.6%	+57.4%	+47.4%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	535,615	33,119	32,912	20,344	129.9	35	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	557,765	41,129	39,103	24,871	153.6	35	Nov 12, 2024	J-GAAP
Revision Rate	+4.1%	+24.2%	+18.8%	+22.3%	+18.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	513,168	28,230	26,410	14,896	94.8	25	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	522,235	21,371	22,397	12,129	77.4	35	Nov 12, 2024	J-GAAP
YoY	+1.8%	-24.3%	-15.2%	-18.6%	-18.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	779,964	21,734	28,081	13,265	87.3	24	May 12, 2023	J-GAAP
Mar, 2024	965,778	53,707	50,913	30,693	195.4	50	May 14, 2024	J-GAAP
Mar, 2025 Guidance	1,080,000	62,500	61,500	37,000	236.2	70	May 14, 2024	J-GAAP
YoY	+11.8%	+16.4%	+20.8%	+20.5%	+20.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	238,242	15,899	15,260	9,122	60.2	6.7	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	254,193	10,834	9,792	4,894	31.6	4.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	258,975	17,396	16,618	10,002	63.7	6.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	266,583	17,247	17,023	10,796	66.3	6.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	291,182	23,882	22,080	14,075	86.9	8.2	Nov 12, 2024	J-GAAP
YoY	+22.2%	+50.2%	+44.7%	+54.3%	+44.5%