Tan Chong International Limited (693) published the unaudited consolidated financial results of Zero Co., Ltd. (9028) for the six-month period ended December 31, 2025. The results highlight year-on-year declines in key indicators alongside unchanged full-year forecasts.

Zero Co. (9028) reported a second-quarter sales revenue of 65,841 million yen, marking a 4.5% decrease year-on-year. Operating profit fell 10.4% to 4,436 million yen, while profit attributable to equity shareholders dropped 13.3% to 3,037 million yen. Basic earnings per share were 179.11 yen, compared with 207.12 yen in the same period last year. Management attributed revenue weakness largely to reduced new-vehicle transport volumes, partially offset by improved used-vehicle transportation rates.

By segment, domestic automotive-related business posted revenue of 33,113 million yen and lower profit owing to cost pressures such as increased labor and higher carrier truck maintenance. Human resource services recorded revenue growth to 11,943 million yen; however, profitability was weighed down by rising wage levels. General cargo business increased both revenue and profit on the back of new warehouse projects and improved port handling. Overseas-related business experienced lower revenue as used-vehicle export shipments were partially deferred, though profitability in China’s vehicle transportation segment improved.

Total assets stood at 74,841 million yen, reflecting a slight increase from the previous fiscal year-end, while total equity rose to 45,616 million yen, resulting in an equity ratio of 60.0%. Year-to-date operating cash flow was positive, supported by reductions in trade receivables, though inventory buildup partially offset these inflows.

Zero Co. (9028) maintained its full-year forecasts, projecting sales revenue of 145,000 million yen and profit before tax of 10,300 million yen for the fiscal year ending June 30, 2026. Dividends are anticipated to rise, with a forecast of 140.30 yen per share in total annual payouts, compared with 139.90 yen previously. No revisions have been made to earlier guidance, and the company disclosed no significant subsequent events following this reporting period.