ZENHOREN CO.,LTD., First Half Ordinary Profit Decreases by 29%, July-September Ordinary Profit Decreases by 40%

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Thu Nov 14, 2024 12:30 pm JST Earnings

5845 ZENHOREN CO.,LTD. 【J-GAAP】

Earnings Report

ZENHOREN CO.,LTD. <5845> [TSE-S] announced its financial results at noon (12:30) on November 14th. The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 29.1% from the same period last year to 1.21 billion yen. The progress rate against the 2.37 billion yen full-year plan was 51.3%, below the same period of the previous year of 78.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to surge by 2.5 times that of the same period last year, reaching 1.15 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 530 million yen, a 40.2% decrease compared to the same period last year. The operating profit margin significantly dropped from 14.7% in the same period last year to 8.4%.

Kabutan News

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, 2023	12,174	1,749	1,719	1,186	62.9	78.5	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	12,731	1,234	1,218	837	36.6	51.3	Nov 14, 2024	J-GAAP
YoY	+4.6%	-29.4%	-29.1%	-29.4%	-41.8%

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	12,724	1,051	1,036	723	31.3	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	12,731	1,234	1,218	837	36.6	0	Nov 14, 2024	J-GAAP
Revision Rate	+0.1%	+17.4%	+17.6%	+15.8%	+16.8%

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	12,336	475	470	352	17.4	30	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,290	1,169	1,154	786	30.3	30	Nov 14, 2024	J-GAAP
YoY	+7.7%	+146.1%	+145.5%	+123.3%	+74.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	24,510	2,224	2,189	1,538	76.1	30	May 15, 2024	J-GAAP
Mar, 2025 Guidance	26,021	2,403	2,372	1,623	62.6	30	May 15, 2024	J-GAAP
YoY	+6.2%	+8.0%	+8.4%	+5.5%	-17.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,121	902	887	611	32.4	14.7	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	6,105	114	106	67	3.4	1.9	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	6,231	361	364	285	14.1	5.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	6,356	696	688	474	20.9	11.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	6,375	538	530	363	15.9	8.4	Nov 14, 2024	J-GAAP
YoY	+4.1%	-40.4%	-40.2%	-40.6%	-51.0%