ZEON, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 11% Increase

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Fri Jan 31, 2025 3:30 pm JST Earnings

4205 ZEON CORPORATION 【J-GAAP】

Earnings Report

ZEON CORPORATION <4205> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 27.3 billion yen, an increase 37.4% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 22.4%, from the previous forecast of 24.5 billion yen to 30 billion yen (compared to 26.9 billion yen in the previous period), turning to a 11.5% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 93.0%, from the previous forecast of 5.91 billion yen to 11.4 billion yen (compared to 13.8 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 57.4% to 17.7%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 27.7% from the same period last year, reaching 8.78 billion yen. The operating profit margin improved from 6.6% in the same period last year to 7.2%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	294,205	27,835	31,087	18,283	86.4	99.0	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	283,806	15,986	19,912	20,908	99.0	74.0	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	315,433	24,173	27,369	20,131	96.7	91.2	Jan 31, 2025	J-GAAP
YoY	+11.1%	+51.2%	+37.4%	-3.7%	-2.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	201,650	6,698	5,913	6,700	34.0	35	Oct 28, 2024	J-GAAP
Oct - Mar, 2024 New	203,650	9,698	11,413	11,200	56.8	35	Jan 31, 2025	J-GAAP
Revision Rate	+1.0%	+44.8%	+93.0%	+67.2%	+67.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	415,000	23,500	24,500	19,000	96.3	70	Oct 28, 2024	J-GAAP
Mar, 2025 New	417,000	26,500	30,000	23,500	119.1	70	Jan 31, 2025	J-GAAP
Revision Rate	+0.5%	+12.8%	+22.4%	+23.7%	+23.7%

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	196,837	11,039	13,872	20,742	98.2	25	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	203,650	9,698	11,413	11,200	56.8	35	Jan 31, 2025	J-GAAP
YoY	+3.5%	-12.1%	-17.7%	-46.0%	-42.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	388,614	27,179	31,393	10,569	49.9	36	Apr 26, 2023	J-GAAP
Mar, 2024	382,279	20,500	26,906	31,101	147.2	45	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	417,000	26,500	30,000	23,500	119.1	70	Jan 31, 2025	J-GAAP
YoY	+9.1%	+29.3%	+11.5%	-24.4%	-19.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	98,364	6,525	6,878	10,549	49.9	6.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	98,473	4,514	6,994	10,193	48.2	4.6	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	106,105	9,041	12,228	8,190	38.8	8.5	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	107,245	7,761	6,359	4,110	19.5	7.2	Oct 28, 2024	J-GAAP
Oct - Dec, 2024	102,083	7,371	8,782	7,831	37.6	7.2	Jan 31, 2025	J-GAAP
YoY	+3.8%	+13.0%	+27.7%	-25.8%	-24.6%