ZERO (9028) Q2 2026 earnings summary

Executive summary

• Maintained full-year earnings guidance despite a decline in vehicle transport volume and weak new car demand; gross profit-focused sales activities helped sustain revenue levels.

• Profit declined due to upfront investments in human capital, system upgrades, and equipment renewal for future growth.

• Responded swiftly to major incidents (trailer fire, railway crossing accident) with thorough investigations and preventive measures.

• Revenue for the interim period was ¥65,841 million, down 4.5% year-over-year, with operating profit at ¥4,436 million, a 10.4% decrease compared to the same period last year.

• Comprehensive income rose 6.4% to ¥3,669 million, reflecting gains in other comprehensive income.

Financial highlights

• Revenue for the first half was ¥65,841 million, down 4.5% year-over-year; operating profit was ¥4,436 million, down 10.4%.

• Net income attributable to owners was ¥3,037 million, down 13.3% year-over-year.

• Gross profit declined to ¥9,926 million from ¥10,549 million year-over-year.

• Interim EPS was ¥179.11, down from ¥207.12 year-over-year.

• Interim dividend per share was ¥43.00, with a full-year forecast of ¥140.30.

Outlook and guidance

• Full-year revenue forecast maintained at ¥145,000 million, with operating profit forecast at ¥10,300 million.

• Operating margin expected to improve to 7.1% for the full year.

• Profit attributable to shareholders is forecast at ¥7,200 million, with basic EPS of ¥425.11.

• Seasonal structure: higher sales and profits expected in the second half due to industry trends.

• No revisions have been made to previously published forecasts.