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ZENHOREN, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 13%, Raises Record High Profit Forecast

Fri Feb 13, 2026 12:30 pm JST Earnings

5845 ZENHOREN CO.,LTD. 【J-GAAP】

Earnings Report

ZENHOREN 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%.

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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, 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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