ZOZO, Inc.

3092 株式会社ZOZO

Internet Retail · Prime · TSE: Disclosed

PRICE: ¥1,088 · MKT CAP: ¥962.1B · P/E: 20.1x · P/B: 9.01x · DIV YIELD: 3.6%

PRICE — 5Y

Characteristics & Business Summary

ZOZO, Inc. operates online shopping Websites in Japan and internationally. It operates ZOZOTOWN a fashion online shopping website; WEAR, an outfit-sharing app; Multi-Size platform, a new way of shopping for clothes where users select their height and weight...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Net Sales	147,402	166,199	183,423	197,016	213,131	228,373	241,900
Operating Profit	44,144	49,656	56,421	60,079	64,756	69,366	74,400
Ordinary Profit	44,386	49,655	56,716	59,764	64,888	69,261	—
Net Profit	30,932	34,492	39,526	44,341	45,346	47,926	49,700
EPS	¥101	¥115	¥132	¥149	¥52	¥54	—
DPS	¥41	¥58	¥65	¥104	¥36	¥39	—

Balance Sheet & Valuation Highlights

Total Assets ¥198B

Net Assets (Equity) ¥107B

Equity Ratio 53.9%

ROE (Return on Equity) 46.5%

Cash & Equivalents ¥69B

Interest-Bearing Debt ¥20B

Capital Expenditure (CapEx) ¥5B

Depreciation & Amort. ¥5B

Major Shareholders

1. Ｚホールディングス中間株式会社 51.9%
2. The Master Trust Bank of Japan, Ltd. (Trust Account) 12.1%
3. Custody Bank of Japan, Ltd. (Trust Account) 4.7%
4. Mizuho Bank, Ltd. 1.8%
5. JPMorgan Securities Japan Co., Ltd. 1.8%
6. Mizuho Bank, Ltd. 1.4%
7. 前澤友作 1.4%
8. Mizuho Bank, Ltd. 0.9%
9. MUFG Bank, Ltd. 0.8%
10. Citibank, N.A. 0.8%

Activist Activity

Massachusetts Financial Services Company 4.15%

2025-03-21 · change

Nomura Securities Co.,Ltd. 5.05%

2025-03-19 · initial_5pct

Massachusetts Financial Services Company 5.69%

2024-11-21 · change

Massachusetts Financial Services Company 6.85%

2024-08-21 · change

Massachusetts Financial Services Company 5.17%

2024-07-04 · initial_5pct

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues per share	¥483	¥554	¥612	¥663	¥245	¥258	¥274
FCF/Share	¥136	¥129	¥92	¥116	¥64	¥54	—
EPS	¥101	¥115	¥132	¥149	¥52	¥54	—
DPS	¥41	¥58	¥65	¥104	¥36	¥39	—
Capital Spending per share	¥11	¥4	¥30	¥27	¥6	¥5	—
Book Value per share	¥182	¥184	¥256	¥285	¥113	¥117	—
Common Shares Outstanding	305M	300M	300M	297M	870M	884M	884M

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues (Net Sales)	¥147B	¥166B	¥183B	¥197B	¥213B	¥228B	¥242B
Operating Margin (%)	29.9%	29.9%	30.8%	30.5%	30.4%	30.4%	30.8%
Net Profit (owners)	¥31B	¥34B	¥40B	¥44B	¥45B	¥48B	¥50B
Net Profit Margin (%)	21.0%	20.8%	21.5%	22.5%	21.3%	21.0%	20.5%
Working Capital	¥30B	¥30B	¥44B	¥46B	¥58B	¥39B	—
Total Debt (Interest-bearing)	¥20B	¥20B	¥20B	¥20B	¥20B	¥20B	—
Net Worth (Common Equity)	¥56B	¥55B	¥77B	¥85B	¥98B	¥103B	—
Return on Total Assets (ROA)	24.6%	27.1%	25.4%	27.4%	24.1%	24.2%	—
Return on Common Equity (ROE)	55.6%	62.6%	51.5%	52.4%	46.2%	46.5%	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.