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ZENHOREN, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 13%, Raises Record High Profit Forecast
5845 ZENHOREN CO.,LTD. 【J-GAAP】
Earnings ReportZENHOREN CO.,LTD. <5845> [TSE Std] announced its financial results at noon (12:30) on February 13th. The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 26.3% from the same period last year, reaching 2.51 billion yen.
In addition, the full-year forecast for ordinary profit has been revised upward 12.7%, from the previous forecast of 2.66 billion yen to 3.00 billion yen (compared to 2.53 billion yen in the previous period), increasing the growth rate from 4.9% to 18.2%, further surpassing the previous forecast of record-high profits for two consecutive terms. However, the full-year forecast for net income has decreased 10.3%, from the previous forecast of 1.82 billion yen to 1.64 billion yen (compared to 1.62 billion yen in the previous period), leading to a reduction in the profit growth rate from 12.8% to 1.2%.
Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the October to March period (second half) is expected to increase 31.2%, from the previous forecast of 1.08 billion yen to 1.42 billion yen (compared to 1.32 billion yen in the same period of the previous year), turning to a 7.8% increase in the ordinary profit outlook.
In the most recent three-month period, from October to December (3Q), the ordinary profit grew 21.2% from the same period last year, reaching 0.93 billion yen. The operating profit margin rose from 12.0% in the same period last year to 14.3%.
Kabutan News
Actual Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Progress Rate vs. First Half | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Apr - Dec, 2023 | 18,279 | 1,863 | 1,825 | 1,253 | 63.7 | 83.4 | Feb 14, 2024 | J-GAAP |
| Apr - Dec, 2024 | 19,182 | 2,006 | 1,991 | 1,371 | 58.0 | 78.4 | Feb 14, 2025 | J-GAAP |
| Apr - Dec, 2025 | 19,591 | 2,517 | 2,514 | 1,279 | 48.9 | 83.8 | Feb 13, 2026 | J-GAAP |
| YoY | +2.1% | +25.5% | +26.3% | -6.7% | -15.6% |
Guidance Update
Second Half Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2025 Prev | 12,997 | 1,091 | 1,085 | 777 | 29.6 | 40 | Nov 14, 2025 | J-GAAP |
| Oct - Mar, 2025 New | 13,094 | 1,424 | 1,423 | 588 | 22.4 | 40 | Feb 13, 2026 | J-GAAP |
| Revision Rate | +0.7% | +30.5% | +31.2% | -24.3% | -24.3% |
Full Year Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2026 Prev | 26,003 | 2,667 | 2,662 | 1,829 | 69.7 | 40 | Nov 14, 2025 | J-GAAP |
| Mar, 2026 New | 26,100 | 3,000 | 3,000 | 1,640 | 62.5 | 40 | Feb 13, 2026 | J-GAAP |
| Revision Rate | +0.4% | +12.5% | +12.7% | -10.3% | -10.3% |
Current Period Guidance
Second Half Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2024 | 12,927 | 1,314 | 1,320 | 784 | 32.4 | 35 | May 15, 2025 | J-GAAP |
| Oct - Mar, 2025 Guidance | 13,094 | 1,424 | 1,423 | 588 | 22.4 | 40 | Feb 13, 2026 | J-GAAP |
| YoY | +1.3% | +8.4% | +7.8% | -25.0% | -30.7% |
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 | 25,658 | 2,548 | 2,538 | 1,621 | 66.9 | 35 | May 15, 2025 | J-GAAP |
| Mar, 2026 Guidance | 26,100 | 3,000 | 3,000 | 1,640 | 62.5 | 40 | Feb 13, 2026 | J-GAAP |
| YoY | +1.7% | +17.7% | +18.2% | +1.2% | -6.6% |
Quarterly Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Operating Profit Margin | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Dec, 2024 | 6,451 | 772 | 773 | 534 | 22.6 | 12.0 | Feb 14, 2025 | J-GAAP |
| Jan - Mar, 2025 | 6,476 | 542 | 547 | 250 | 10.3 | 8.4 | May 15, 2025 | J-GAAP |
| Apr - Jun, 2025 | 6,511 | 937 | 933 | 612 | 23.5 | 14.4 | Aug 14, 2025 | J-GAAP |
| Jul - Sep, 2025 | 6,495 | 639 | 644 | 440 | 16.9 | 9.8 | Nov 14, 2025 | J-GAAP |
| Oct - Dec, 2025 | 6,585 | 941 | 937 | 227 | 8.7 | 14.3 | Feb 13, 2026 | J-GAAP |
| YoY | +2.1% | +21.9% | +21.2% | -57.5% | -61.5% |
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