ZENRIN CO., LTD.
9474・Prime Market・Information & Communication
Location Information Services Business
A single segment providing solutions for corporate, public, and mobility customers centered on maps and location information
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue | ¥64,277 million | ¥64,363 million | — |
| Operating profit | ¥3,502 million | ¥3,923 million | ↓ |
| Ordinary profit | ¥3,866 million | ¥3,936 million | ↓ |
| Profit attributable to owners of parent | ¥2,738 million | ¥2,606 million | ↑ |
| Operating margin | 5.4% | 6.1% | ↓ |
| Equity ratio | 67.9% | 67.4% | ↑ |
| Earnings per share | ¥51.30 | ¥48.83 | ↑ |
| Annual dividend per share | ¥42 | ¥35 | ↑ |
| Operating cash flow | ¥7,112 million | ¥9,640 million | ↓ |
Business Details
Centered on location information content such as the residential map database, car navigation data, and ZENRIN Maps API, the company operates services across five business segments: Product, Marketing, Public, Infrastructure, and Mobility Solutions. Customers range widely from local governments and ministries to automakers and corporations, and while shifting from flow-based to stock-based services, the company is accelerating expansion into digital twin, autonomous driving, and MaaS domains.
Recent Overview
Public Solutions saw a large revenue increase, but a revenue decline in Mobility and higher costs pushed operating profit down 10.7%
In FY2026 (ending March 2026), revenue was ¥64,277 million (down 0.1% year on year), essentially flat. While the Public Solutions Business drove growth at +18.6% due to increased residential map data provision and expanded outsourced projects, the Mobility Solutions Business saw a large revenue decline of -10.3% due to the reversal of one-time revenue and a decrease in car navigation data sales. Operating profit fell to ¥3,502 million (-10.7%) due to increased personnel expenses and higher cost of sales associated with changes in revenue composition. Net profit rose 5.1% year on year to ¥2,738 million, aided by gains on sales of investment securities. Urban X Technologies Co., Ltd. and ZFP Corporate Co-Creation Investment Limited Partnership were newly added to the scope of consolidation.
Key Products
Growth Drivers
- Increased provision of residential map data and expansion of outsourced projects for local government DX in the Public Solutions Business
- Further expansion of stock-type services, including package products, and strengthening of solution sales
- Revenue increase in the next fiscal year (FY2027, ending March 2027) through the introduction of new products (revenue forecast of ¥66,000 million, +2.7%)
- Enhancement of the value provided by the advanced spatio-temporal database through the use of AI technology
- Expanding demand for location information in the autonomous driving, MaaS, and digital twin domains
- Acceleration of the shift to stock services through corporate and regional co-creation activities based on ZGP2030
Risks
- Risk of structural decline in demand for car navigation data in the Mobility Solutions Business (-10.3% in the current period)
- Upward pressure on cost of sales and SG&A expenses due to increased personnel costs (continued base pay increases)
- Risk of profit pressure from increased growth investment toward building the advanced spatio-temporal database (next fiscal year operating profit forecast of ¥3,600 million, net profit forecast of -8.7%)
- Seasonal fluctuation risk, as fixed costs such as map database maintenance expenses are incurred throughout the year while revenue is concentrated toward year-end
- Risk of intensifying competition due to disruptive innovation by tech companies
- Impact on business performance from trends in trade policy of major countries, exchange rate fluctuations, and volatility in financial and capital markets
- Impact on comprehensive income and net assets from declines in the market value of investment securities (comprehensive income of ¥799 million in the current period, -61.7%)
Last updated: June 18, 2026