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ZENHOREN, First Half Ordinary Profit Unexpectedly Revised Upward by 29%, Current Fiscal Year Dividend Revised Upward by 5 Yen

Fri Nov 14, 2025 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 November 14th. The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 29.5% from the same period last year, reaching 1.57 billion yen, resulting in an increase in profits compared to the previous forecast of a 2.8% decrease.

Progress toward the full-year plan of 2.66 billion yen was 59.2%, also surpassing progress of 48.0% from the same period of the previous year.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease 17.8% from the same period last year to 1.08 billion yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 35 yen to 40 yen (compared to 35 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the ordinary profit grew 21.5% from the same period last year, reaching 0.64 billion yen. The operating profit margin improved from 8.4% in the same period last year to 9.8%.

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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, 2023 12,174 1,749 1,719 1,186 62.9 78.5 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 12,731 1,234 1,218 837 36.6 48.0 Nov 14, 2024 J-GAAP
Apr - Sep, 2025 13,006 1,576 1,577 1,052 40.3 59.2 Nov 14, 2025 J-GAAP
YoY +2.2% +27.7% +29.5% +25.7% +10.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 12,960 1,186 1,184 795 30.4 0 May 15, 2025 J-GAAP
Apr - Sep, 2025 Results 13,006 1,576 1,577 1,052 40.3 0 Nov 14, 2025 J-GAAP
Revision Rate +0.4% +32.9% +33.2% +32.3% +32.6%

Guidance Update

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 69.8 35 May 15, 2025 J-GAAP
Mar, 2026 New 26,003 2,667 2,662 1,829 69.8 40 Nov 14, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 12,997 1,091 1,085 777 29.7 40 Nov 14, 2025 J-GAAP
YoY +0.5% -17.0% -17.8% -0.9% -8.4%

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 26,003 2,667 2,662 1,829 69.8 40 Nov 14, 2025 J-GAAP
YoY +1.3% +4.7% +4.9% +12.8% +4.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 6,375 538 530 363 15.9 8.4 Nov 14, 2024 J-GAAP
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
YoY +1.9% +18.8% +21.5% +21.2% +6.3%

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