ZERO (9028) Q3 2025 earnings summary

Executive summary

• Revenue for the third quarter reached ¥113.0 billion, up 7.1% year-over-year, with operating profit surging 71.4% to ¥7.7 billion and net income attributable to owners rising 84.2% to ¥5.45 billion.

• All major business segments reported year-over-year revenue and profit growth, notably in domestic automotive, human resources, general cargo, and overseas businesses.

Financial highlights

• Gross profit increased to ¥16.42 billion from ¥13.09 billion year-over-year.

• Basic earnings per share rose to ¥322.03 from ¥175.19 year-over-year.

• Total assets grew to ¥74.4 billion, and equity attributable to shareholders increased to ¥41.7 billion, with an equity ratio of 55.2%.

• Cash and cash equivalents at quarter-end were ¥11.6 billion, up ¥308 million from the previous year-end.

• Operating margin improved to 6.8% from 4.3% year-over-year.

Outlook and guidance

• Full-year revenue forecast revised up to ¥145.0 billion (+3.0% YoY), with operating profit forecast at ¥10.2 billion (+63.9% YoY) and net income at ¥7.1 billion (+71.1% YoY).

• ROE expected to rise to 17.8% from 11.8% last year.

• Dividend forecast revised upward to ¥138.40 per share for the year, with a payout ratio of 33.0%.