Komori
Presentation materials for financial results5845ZENHOREN CO.,LTD.Financials (excluding banks)

Briefing Materials on Financial Results for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, revenue, operating profit, ordinary profit and net income exceeded the same period of the previous year, while revenue and all figures from operating profit downward reached record highs. On 29 July, the company raised its full-year forecasts for operating profit, ordinary profit and net income, as well as its year-end dividend forecast.

Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
469
¥ million (increase in full-year operating income forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFirst quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥6,690 million+2.7%
Operating profit¥1,120 million+19.5%
Ordinary income¥1,116 million+19.6%
Net income¥751 million+22.7%
Selling, general and administrative expenses¥3,558 million
Results for the three months of the current quarter
Net Sales
¥6,690 million
Operating profit
¥1,120 million
Ordinary income
¥1,116 million
Profit before income taxes for the quarter
¥1,116 million
Quarterly net income
¥751 million
Full-year earnings forecast
Net Sales
¥27,416 million
Operating profit
¥4,000 million
Ordinary income
¥4,000 million
Net income for the current fiscal year
¥2,800 million
Earnings per share
¥107
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales24.4%
Operating profit28.0%
Ordinary income27.9%
Quarterly net income26.8%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Performance remains firm, and operating profit is still progressing well against the full-year forecast
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The materials state that the outlook is based on assumptions as of the current date, but figures for foreign exchange rates, raw material prices, volumes and other items are not disclosed
New initiatives
  • The head office will move to Naha Port Building on 21 December 2026
  • Launch of the YUI PASS service for tenants and strengthening of the membership base
  • Digitization and greater operating efficiency using IT and AI
  • Transition to a company with an Audit & Supervisory Committee
  • Holding briefings for individual investors
Key KPIsA metric the company considers important as a management benchmark.
  • Share price¥1,001
    Year on year against the same period last year+¥173
  • Market capitalization¥26,680 million
    Year on year against the same period last year+¥4,678 million
  • PBR3.4 times
    Year on year against the same period last year+0.2
  • ROE38.5 %
    Year on year against the same period last year+3.1 percentage points
  • Recourse receivables as a percentage of revenue24.7 %
  • Allowance for doubtful accounts as a percentage of recourse receivables58.9 %
  • Adjusted EBITDA margin31.4 %
  • 30-day subrogation rate after early payment deductions0.44 %
    Year on year against the same period last year+0.15 points
  • Subrogation payment recovery rate96.99 %
    Year on year against the same period last year+0.56 points
  • Number of partner company locations59,068 Location
    Year on year against the same period last year+8.1%
  • Cumulative number of rent guarantee contracts456.5 ten thousand items
    Year on year against the same period last year+5.9%
  • Number of in-force policies196 ten thousand items
    Year on year against the same period last year+0.6%
  • Number of locations using Z-WEB2.021,752 Location
    Year on year against the same period last year1.6x year on year
  • Electronic application rate47.9 %
    Year on year against the same period last year+9.4 points
  • Electronic contract rate26.4 %
    Year on year against the same period last year+5.3 points
Medium-term management plan targets
Market capitalization target in four years
669 Hundreds of millions of yen
Number of stores and locations
Number of partner company locations
End of period59,068 Location
Number of locations using Z-WEB2.0
End of period21,752 Location
Change during the period+8,027 locations (versus the end of June 2025)
Annual Dividend
Annual dividend per share
¥54
End of period
¥54
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥6,690 million (YoY +2.7%)
Operating profit¥1,120 million (YoY +19.5%)
Ordinary income¥1,116 million (YoY +19.6%)
Net income¥751 million (YoY +22.7%)
Selling, general and administrative expenses¥3,558 million
Results for the three months of the current quarterNet Sales ¥6,690 million / Operating profit ¥1,120 million / Ordinary income ¥1,116 million / Profit before income taxes for the quarter ¥1,116 million / Quarterly net income ¥751 million
Full-year earnings forecastNet Sales ¥27,416 million / Operating profit ¥4,000 million / Ordinary income ¥4,000 million / Net income for the current fiscal year ¥2,800 million / Earnings per share ¥107
Progress against full-year forecastNet Sales 24.4% / Operating profit 28.0% / Ordinary income 27.9% / Quarterly net income 26.8%
Self-assessment against the planPerformance remains firm, and operating profit is still progressing well against the full-year forecast
Key KPIsIndicator name Share price / Value ¥1,001 / Year on year against the same period last year +¥173, Indicator name Market capitalization / Value ¥26,680 million / Year on year against the same period last year +¥4,678 million, Indicator name PBR / Value 3.4 times / Year on year against the same period last year +0.2 times, Indicator name ROE / Value 38.5 % / Year on year against the same period last year +3.1 percentage points, Indicator name Recourse receivables as a percentage of revenue / Value 24.7 % / Year on year against the same period last year Not disclosed, Indicator name Allowance for doubtful accounts as a percentage of recourse receivables / Value 58.9 % / Year on year against the same period last year Not disclosed, Indicator name Adjusted EBITDA margin / Value 31.4 % / Year on year against the same period last year Not disclosed, Indicator name 30-day subrogation rate after early payment deductions / Value 0.44 % / Year on year against the same period last year +0.15 points, Indicator name Subrogation payment recovery rate / Value 96.99 % / Year on year against the same period last year +0.56 points, Indicator name Number of partner company locations / Value 59,068 Location / Year on year against the same period last year +8.1%, Indicator name Cumulative number of rent guarantee contracts / Value 456.5 ten thousand items / Year on year against the same period last year +5.9%, Indicator name Number of in-force policies / Value 196 ten thousand items / Year on year against the same period last year +0.6%, Indicator name Number of locations using Z-WEB2.0 / Value 21,752 Location / Year on year against the same period last year 1.6x year on year, Indicator name Electronic application rate / Value 47.9 % / Year on year against the same period last year +9.4 points, Indicator name Electronic contract rate / Value 26.4 % / Year on year against the same period last year +5.3 points
Number of stores and locationsNumber of partner company locations End of period 59,068 Location / Change during the period Not disclosed / Number of locations using Z-WEB2.0 End of period 21,752 Location / Change during the period +8,027 locations (versus the end of June 2025)
Assumptions Underlying the Business OutlookThe materials state that the outlook is based on assumptions as of the current date, but figures for foreign exchange rates, raw material prices, volumes and other items are not disclosed
Medium-term management plan targetsMarket capitalization target in four years 669 Hundreds of millions of yen
Annual DividendAnnual dividend per share ¥54 / Interim Not disclosed / End of period ¥54
New initiativesThe head office will move to Naha Port Building on 21 December 2026, Launch of the YUI PASS service for tenants and strengthening of the membership base, Digitization and greater operating efficiency using IT and AI, Transition to a company with an Audit & Supervisory Committee, Holding briefings for individual investors
Items this document does not state (14)
Gross profitOperating profit marginSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The company cited synergies with MUFG, the concentration of management resources on high-quality customers and the sale of high-value-added products, lower credit costs through more sophisticated screening and stronger collection efforts, and lower expenses through greater operating efficiency using IT and AI.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Briefing Materials on Financial Results for the First Quarter of the Fiscal Year Ending March 2027 | ZENHOREN CO.,LTD. (5845) timely disclosure | Komori