ZERO, The Current Fiscal Year Net Income Revised Upward by 29%, Raises Record High Profit Forecast, Dividend Revised Upward by 31 yen

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Thu May 15, 2025 5:00 pm JST Earnings

9028 ZERO CO.,LTD. 【IFRS】

Earnings Report

ZERO CO.,LTD. <9028> [TSE Std] announced its financial results (based on IFRS) after the market closed on May 15th (17:00). The consolidated net income for the cumulative third quarter of the fiscal year ending June 2025 (July 2024 to March 2025) expanded 5.45 billion yen, an increase 84.3% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward 29.1%, from the previous forecast of 5.5 billion yen to 7.1 billion yen (compared to 4.15 billion yen in the previous period), increasing the growth rate from 32.5% to 71.1%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the January to June period (2H) is expected to increase 80.2%, from the previous forecast of 1.99 billion yen to 3.59 billion yen (compared to 2.69 billion yen in the same period of the previous year), turning to a 33.6% increase in the consolidated net income outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 107.4 yen to 138.4 yen (compared to 61.4 yen in the previous period).

In the most recent three-month period, from January to March (3Q), the consolidated net income grew 29.9% from the same period last year, reaching 1.94 billion yen. The operating profit margin improved from 5.3% in the same period last year to 6.3%.

Kabutan News

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
Jul - Mar, 2022	101,052	3,752	3,751	2,500	148.4	73.8	May 11, 2023	IFRS
Jul - Mar, 2023	105,570	4,501	4,512	2,959	175.2	72.5	May 9, 2024	IFRS
Jul - Mar, 2024	113,023	7,717	7,705	5,452	322.0	75.5	May 15, 2025	IFRS
YoY	+7.1%	+71.5%	+70.8%	+84.3%	+83.8%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2025 Prev	66,044	3,149	3,158	1,995	119.0	64.40	Feb 13, 2025	IFRS
Jan - Jun, 2025 New	76,044	5,249	5,258	3,595	214.4	95.40	May 15, 2025	IFRS
Revision Rate	+15.1%	+66.7%	+66.5%	+80.2%	+80.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2025 Prev	135,000	8,100	8,100	5,500	328.0	107.40	Aug 8, 2024	IFRS
Jun, 2025 New	145,000	10,200	10,200	7,100	423.4	138.40	May 15, 2025	IFRS
Revision Rate	+7.4%	+25.9%	+25.9%	+29.1%	+29.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	76,352	3,907	3,903	2,690	159.2	46.40	Aug 8, 2024	IFRS
Jan - Jun, 2025 Guidance	76,044	5,249	5,258	3,595	214.4	95.40	May 15, 2025	IFRS
YoY	-0.4%	+34.3%	+34.7%	+33.6%	+34.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2023	132,861	5,074	5,080	3,437	204.0	51	Aug 10, 2023	IFRS
Jun, 2024	140,751	6,222	6,227	4,150	245.6	61.40	Aug 8, 2024	IFRS
Jun, 2025 Guidance	145,000	10,200	10,200	7,100	423.4	138.40	May 15, 2025	IFRS
YoY	+3.0%	+63.9%	+63.8%	+71.1%	+72.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jan - Mar, 2024	41,171	2,186	2,188	1,499	88.8	5.3	May 9, 2024	IFRS
Apr - Jun, 2024	35,181	1,721	1,715	1,191	70.5	4.9	Aug 8, 2024	IFRS
Jul - Sep, 2024	34,312	2,724	2,715	1,887	111.6	7.9	Nov 7, 2024	IFRS
Oct - Dec, 2024	34,644	2,227	2,227	1,618	95.6	6.4	Feb 13, 2025	IFRS
Jan - Mar, 2025	44,067	2,766	2,763	1,947	115.0	6.3	May 15, 2025	IFRS
YoY	+7.0%	+26.5%	+26.3%	+29.9%	+29.6%