ZERO (9028) Q3 2026 earnings summary

Executive summary

• Cumulative revenue for the third quarter was ¥111,925 million, down 1.0% year-over-year, with operating profit at ¥7,503 million, down 2.8% year-over-year.

• Profit attributable to equity shareholders was ¥5,091 million, a 6.6% decrease year-over-year.

• Despite a decline in new car shipments, strengthened used car transport and efficiency improvements led to year-over-year increases in both revenue and profit for the quarter.

• Comprehensive income for the quarter rose 8.0% year-over-year to ¥5,716 million.

• The domestic automobile market saw a decline in new vehicle sales but a slight increase in used vehicle sales and exports.

Financial highlights

• Gross profit for the quarter was ¥16,007 million, down from ¥16,416 million year-over-year.

• Net income attributable to owners: ¥5,091 million (93.4% of prior year).

• Basic earnings per share were ¥300.02, compared to ¥322.03 in the prior year.

• Full-year revenue forecast: ¥145,000 million (98.1% of prior year); operating profit forecast: ¥10,300 million (100.7% of prior year); operating margin forecast: 7.1%.

• Total assets increased to ¥75,588 million, up 2.2% from the previous fiscal year-end.

Outlook and guidance

• Full-year guidance remains unchanged from the August 2025 announcement.

• Net income forecast for the year: ¥7,200 million; annual dividend per share: ¥140.30; payout ratio: 33.0%.

• Operating income is projected at ¥10,300 million, a 0.7% increase year-over-year.