9028
ZERO CO.,LTD.
株式会社ゼロ
Consumer Cyclical · Auto & Truck Dealerships
ZERO Co., Ltd., together with its subsidiaries, provides vehicle transportation and maintenance services in Japan. The company offers new and used vehicle transportation, and door-to-door transportation of private cars and motorbikes. It also offers new, heavy vehicle, and other maintenance services; handling and vehicle inspection services at auto auction; car selection services; general cargo transportation services; and human resources services, including pick-up and dispatching services. In addition, the company provides port transportation and warehousing services; vehicle control and management services; temporary and placement services; and customs clearance services, as well as exports and sells used cars and automobile parts. The company was formerly known as Nissan Transportation Co. Ltd. and changed its name to ZERO Co., Ltd. in May 2001. ZERO Co., Ltd. was incorporated in 1961 and is headquartered in Kawasaki, Japan.
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Overview
Filings & Signals
Ownership
Financials
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Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥147.8B
¥140.8B
¥132.9B
¥107.0B
¥92.2B
Cost of Sales
¥126.1B
¥123.1B
¥117.7B
¥93.9B
¥78.8B
Gross Profit
¥21.8B
¥17.7B
¥15.2B
¥13.1B
¥13.4B
SG&A
¥11.7B
¥11.3B
¥10.3B
¥9.4B
¥8.7B
Operating Income
¥10.2B
¥6.2B
¥5.1B
¥3.9B
¥5.3B
Non-Operating Income
¥66M
¥65M
¥52M
¥70M
¥38M
Interest Income
¥27M
¥28M
¥23M
¥19M
¥1M
Non-Operating Expenses
¥76M
¥46M
¥44M
¥39M
¥38M
Pre-tax Income
¥10.2B
¥6.2B
¥5.1B
¥3.9B
¥5.4B
Net Income (owners)
¥7.2B
¥4.2B
¥3.4B
¥2.5B
¥3.6B
Minority Interest
¥19M
¥53M
¥15M
¥-14M
¥-11M
Comprehensive Income
¥7.1B
¥4.8B
¥3.8B
¥2.7B
¥3.9B
EBITDA
¥15.4B
¥11.4B
¥10.1B
¥8.6B
¥9.9B
EPS
¥423.91
¥245.61
¥203.96
¥150.91
¥216.55
Shares Outstanding
17.1M
17.1M
17.1M
16.9M
16.9M
Shares Issued (total)
17.6M
17.6M
17.6M
17.6M
17.6M
Treasury Shares
0.5M
0.5M
0.5M
0.7M
0.7M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥73.9B
¥70.7B
¥56.6B
¥54.9B
¥50.9B
Current Assets
¥38.2B
¥33.0B
¥26.0B
¥24.6B
¥20.1B
Cash & Deposits
¥16.6B
¥11.3B
¥5.5B
¥5.2B
¥5.9B
Non-Current Assets
¥35.7B
¥37.7B
¥30.5B
¥30.3B
¥30.9B
PP&E
¥22.5B
¥24.8B
¥20.7B
¥21.2B
¥21.9B
Goodwill
¥2.2B
¥2.7B
¥2.1B
¥2.7B
¥1.9B
Deferred Tax Assets
¥802M
¥565M
¥478M
¥392M
¥379M
Total Liabilities
¥30.4B
¥32.9B
¥22.7B
¥24.3B
¥22.6B
Current Liabilities
¥24.2B
¥24.1B
¥18.2B
¥18.6B
¥14.8B
ST Debt
¥5.0B
¥5.1B
¥1.6B
¥4.0B
¥1.6B
Non-Current Liabilities
¥6.2B
¥8.7B
¥4.5B
¥5.6B
¥7.8B
Total LT Borrowings
—
—
—
—
¥22M
Deferred Tax Liab.
¥1.0B
¥979M
¥899M
¥511M
¥478M
Total Equity
¥43.5B
¥37.9B
¥33.8B
¥30.6B
¥28.3B
Capital Surplus
¥3.5B
¥3.5B
¥3.5B
¥3.5B
¥3.4B
Retained Earnings
¥35.9B
¥30.1B
¥26.4B
¥23.4B
¥21.8B
Treasury Stock
¥-528M
¥-614M
¥-638M
¥-667M
¥-681M
AOCI
¥679M
¥841M
¥644M
¥444M
¥324M
Equity (owners)
¥42.9B
¥37.2B
¥33.3B
¥30.1B
¥28.3B
Minority Interests
¥629M
¥663M
¥550M
¥546M
¥18M
Total Interest-Bearing Debt ⓘ
¥5.0B
¥5.1B
¥1.6B
¥4.0B
¥1.6B
Net Cash ⓘ
¥11.6B
¥6.2B
¥3.9B
¥1.2B
¥4.3B
NCAV ⓘ
¥7.8B
¥134M
¥3.3B
¥324M
¥-2.6B
NCAV/Share
¥458
¥8
¥193
¥19
¥-153
BV/Share
¥2,507
¥2,175
¥1,945
¥1,784
¥1,678
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥12.9B
¥11.2B
¥8.8B
¥4.0B
¥8.6B
D&A
¥5.2B
¥5.1B
¥5.0B
¥4.7B
¥4.6B
Investing CF
¥-2.8B
¥-4.7B
¥-2.2B
¥-3.3B
¥-3.1B
Financing CF
¥-4.6B
¥-824M
¥-6.3B
¥-1.6B
¥-4.4B
Free Cash Flow
¥12.9B
¥11.2B
¥8.8B
¥4.0B
¥8.6B
Net Change in Cash
¥5.3B
¥5.8B
¥294M
¥-723M
¥1.1B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
17.6%
11.6%
10.7%
8.6%
12.8%
ROA
9.9%
6.5%
6.2%
4.8%
7.1%
EPS
¥423.91
¥245.61
¥203.96
¥150.91
¥216.55
DPS
¥139.90
¥61.40
¥51.00
¥37.70
¥54.10
FCF/Share
¥751
¥657
¥513
¥235
¥510
NCAV/Share
¥458
¥8
¥193
¥19
¥-153
Payout Ratio
33.0%
25.0%
25.0%
25.0%
25.0%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 2
Date Activist Stake Event Flag Demands Source
2025-04-15
FUJITRANS CORPORATION
5.02%
initial_5pct
Passive
—
2025-04-15
FUJITRANS CORPORATION
5.02%
correction
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 2
#
Shareholder
Shares (thou.)
% of Total
1
ZENITH LOGISTICS LIMITED
ZENITH LOGISTICS LIMITED(常任代理人 株式会社みずほ銀行決済営業部)
8,208
47.97%
2
SBS Holdings, Inc.
SBSホールディングス株式会社
3,577
20.90%
3
株式会社フジトランスコーポレーション
882
5.15%
4
ZENITH LOGISTICS PTE. LTD.
ZENITH LOGISTICS PTE. LTD.(常任代理人 株式会社みずほ銀行決済営業部)
586
3.42%
5
Japan Custody Bank
株式会社日本カストディ銀行(信託E口)
340
1.99%
6
栗林運輸株式会社
255
1.49%
7
Employee Stock Ownership Plan
ゼロ従業員持株会
197
1.15%
8
株式会社オークネット
180
1.05%
9
モルガン・スタンレーMUFG証券株式会社
146
0.85%
10
株式会社ENEOSウイング
129
0.75%
Domestic Nominees
2.0%
-0.8% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
82.7%
-0.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
ZENITH LOGISTICS LIMITED
47.98%
47.98%
47.97%
-0.01%
SBS Holdings, Inc.
SBSホールディングス
20.90%
20.90%
20.90%
式会社フジトランスコーポレーション
↑
2.12%
2.12%
5.15%
+3.03%
ZENITH LOGISTICS PTE. LTD.
3.42%
3.42%
3.42%
Japan Custody Bank
日本カストディ銀行
2.95%
2.74%
1.99%
-0.75%
栗林運輸
1.49%
1.49%
1.49%
Employee Stock Ownership Plan
ゼロ従業員持株会
↑
1.07%
1.13%
1.15%
+0.02%
式会社オークネット
NEW ENTRY
—
—
—
1.05%
NEW
Morgan Stanley
NEW ENTRY
—
—
—
0.85%
NEW
式会社ENEOSウイング
NEW ENTRY
—
—
—
0.75%
NEW
Tokio Marine & Nichido Fire Insurance Co., Ltd.
東京海上日動火災保険
last seen 2024
Exited Top 10
3.73%
3.73%
—
Mitsui O.S.K. Lines, Ltd.
式会社商船三井
last seen 2024
Exited Top 10
1.39%
1.30%
—
式会社カイソー
last seen 2024
Exited Top 10
1.27%
1.27%
—
Concentration (HHI)
ⓘ
2785
2783
2786
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥271M
+41% since 2023
Holdings
2
Trend
1 building
vs 2023
Held Company
FY2025
¥271M total
FY2023
¥192M total
Book Val ¥M
Shares
Book Val ¥M
Shares
kuribayashi steamship co.,ltd.
栗林商船株式会社
252
250,000
180
250,000
M
第一生命ホールディングス株式会社
19
+300.0%
↑
17,600
12
4,400
Portfolio total
271
192
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding