ZETT CORPORATION, The Current Fiscal Year Net Income Revised Upward by 3.3 times, Highest in Twenty Two Terms, Dividend Revised Upward by 8 yen

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Thu Nov 14, 2024 3:30 pm JST Earnings

8135 ZETT CORPORATION 【J-GAAP】

Earnings Report

ZETT CORPORATION <8135> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.4% from the same period last year, reaching 466 million yen, resulting in an increase in profits compared to the previous forecast of a 15.5% decrease.

In addition, the full-year consolidated net income has been revised upward by 3.3 times, from the previous forecast of 850 million yen to 2.8 billion yen (compared to 810 million yen in the previous period), increasing the growth rate from 4.9% to 3.5 times, reaches new record high for the first time in twenty two terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 6.3 times that of the same period last year, reaching 2.33 billion yen.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 10 yen to 18 yen (compared to 8 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 110 million yen, a 36.0% decrease compared to the same period last year. The operating profit margin worsened from 1.7% in the same period last year to 1.0%.

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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	24,906	602	761	498	25.5	62.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	26,120	616	717	438	22.4	70.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	27,247	581	706	466	23.9	58.8	Nov 14, 2024	J-GAAP
YoY	+4.3%	-5.7%	-1.5%	+6.4%	+6.3%

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	26,500	450	520	370	18.9	0	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	27,247	581	706	466	23.9	0	Nov 14, 2024	J-GAAP
Revision Rate	+2.8%	+29.1%	+35.8%	+25.9%	+26.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	53,000	1,000	1,150	850	43.4	10	May 9, 2024	J-GAAP
Mar, 2025 New	54,000	1,000	1,200	2,800	143.0	18	Nov 14, 2024	J-GAAP
Revision Rate	+1.9%	0.0%	+4.3%	+229.4%	+229.4%

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	25,837	260	304	372	19.0	8	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	26,753	419	494	2,334	119.2	18	Nov 14, 2024	J-GAAP
YoY	+3.5%	+61.2%	+62.5%	+527.4%	+526.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	49,887	997	1,220	905	46.3	8	May 11, 2023	J-GAAP
Mar, 2024	51,957	876	1,021	810	41.4	8	May 9, 2024	J-GAAP
Mar, 2025 Guidance	54,000	1,000	1,200	2,800	143.0	18	Nov 14, 2024	J-GAAP
YoY	+3.9%	+14.2%	+17.5%	+245.7%	+245.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,068	221	277	172	8.8	1.7	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	11,890	-9	14	108	5.5	-0.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	13,947	269	290	264	13.5	1.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	13,539	439	524	356	18.2	3.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	13,708	142	182	110	5.6	1.0	Nov 14, 2024	J-GAAP
YoY	+4.9%	-35.7%	-34.3%	-36.0%	-36.1%