# Fukuoka Financial Group (8354.JP)

Canonical: https://gigainvestors.com/s/8354.JP

Analysis as of: 2026-10-15T07:11:44.832Z. Financial observations: FY2016–FY2026.

Listing currency: JPY. Reporting currency: JPY.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: JPY 7,153.00 per share; close as of 2026-10-15.

Estimated value: low JPY 1,656.23 per share, central JPY 1,945.65 per share, high JPY 2,357.64 per share. Buy at or below the central value JPY 1,945.65 per share. Valuation as of 2026-10-15T07:11:44.832Z; scenarios are not confidence intervals.

Expected annual return: 5.8% at the stated quote. About 5.8% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; JP 10-year bond 2.9% + 4 points).

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 9

- Required profitable years: 9

- Return on common equity variation (informational): 0.92×

Chart: Net income; fiscal year observations.

- FY2017: JPY -54B

- FY2018: JPY 49B

- FY2019: JPY 52B

- FY2020: JPY 111B

- FY2021: JPY 45B

- FY2022: JPY 54B

- FY2023: JPY 31B

- FY2024: JPY 61B

- FY2025: JPY 72B

- FY2026: JPY 85B

### moat: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- median return on common equity below threshold

- return on tangible common equity below 5% in more than one year

- Bank / P&C ROTE, median of available years: 6.3%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 3.5%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2017: -7.8%

- FY2018: 6.5%

- FY2019: 6.8%

- FY2020: 13.3%

- FY2021: 4.7%

- FY2022: 5.9%

- FY2023: 3.5%

- FY2024: 6.1%

- FY2025: 8.0%

- FY2026: 8.2%

### economics: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- book value per share plus dividends compounded below 7% annually

- Book value per share + reinvested dividends, annualized return: 5.7%

- Book return interval: 10 years

- Starting book value per share: JPY 4K

- Ending book value per share: JPY 5K

Chart: Annual book + dividend return; fiscal year observations.

- FY2017: 6.5%

- FY2018: 11.3%

- FY2019: 1.5%

- FY2020: 0.9%

- FY2021: 14.7%

- FY2022: -0.2%

- FY2023: -1.2%

- FY2024: 15.2%

- FY2025: -7.7%

- FY2026: 18.8%

### management: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- book per share gain below retained common earnings per share

- Diluted shares, 10-year annual growth: 0.9%

- Diluted shares, 5-year annual growth: -0.1%

- Share growth excluding flagged crisis recapitalisations: 0.9%

- Five-year share growth excluding flagged crisis recapitalisations: -0.1%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: 0.96×

- Book value created per share: JPY 2K

- Earnings retained per share after dividends and buybacks: JPY 2K

Chart: Shares (first year = 100); fiscal year observations.

- FY2016: 100

- FY2017: 99

- FY2018: 99

- FY2019: 99

- FY2020: 110

- FY2021: 110

- FY2022: 110

- FY2023: 109

- FY2024: 109

- FY2025: 109

- FY2026: 109

### accounting: pass

- Financial accounting warning count: 0

- Loans, annualized growth: 6.6%

- Deposits, annualized growth: 5.5%

- Known restatement years: 0

- Years loan growth exceeded twice deposit growth: 4

## Holders

## Price story

The price assumes profits grow 8.4% a year forever · net income +18.4%

Story as of 2026-10-16T10:00:14.751Z; price observation 2026-10-15.

The price assumes profits grow 8.4% a year forever

### Net income · FY2026

net income +18.4%; source https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YFNB.pdf; observed 2026-06-19.

- FY2017: JPY -54B 

- FY2018: JPY 49B 

- FY2019: JPY 52B 

- FY2020: JPY 111B 

- FY2021: JPY 45B 

- FY2022: JPY 54B 

- FY2023: JPY 31B 

- FY2024: JPY 61B 

- FY2025: JPY 72B 

- FY2026: JPY 85B 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in regional banking; annual sales are JPY 408.9 billion.

- Source: https://eodhd.com/api/fundamentals/4FK.F.json#2026-03-31 (filed 2026-06-19); FY2026: revenue 408872000000.

### Why customers stay

It earns 6.3% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-19); 10-year return on tangible equity observations [[2017,-0.07792431439518964],[2018,0.06467057553655264],[2019,0.06786161480922831],[2020,0.13264886374130072],[2021,0.04746635934607906],[2022,0.058692301935984854],[2023,0.0352977568384305],[2024,0.061375567953241485],[2025,0.08015102205441994],[2026,0.0822106057339944]]; median 0.06302307174489706. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back JPY 680 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-19); Dividend observations: [[2017,11299000000],[2018,12022000000],[2019,13740000000],[2020,15855000000],[2021,16151000000],[2022,17098000000],[2023,18890000000],[2024,20709000000],[2025,23177000000],[2026,29325000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YFNB.pdf (filed 2026-06-19); FY2026: cash repurchases 680000000 JPY.

### What the price says

The price assumes profits grow 8.4% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-19); Price 7153; FX 1; original perpetual distributable cash 111.34190279037861; discount 0.1; growth 0.0844342369928172. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (JPY per share)

- 2016-11: JPY 2,475.00 per share

- 2016-12: JPY 2,595.00 per share

- 2017-01: JPY 2,500.00 per share

- 2017-02: JPY 2,620.00 per share

- 2017-03: JPY 2,410.00 per share

- 2017-04: JPY 2,540.00 per share

- 2017-05: JPY 2,490.00 per share

- 2017-06: JPY 2,670.00 per share

- 2017-07: JPY 2,545.00 per share

- 2017-08: JPY 2,415.00 per share

- 2017-09: JPY 2,600.00 per share

- 2017-10: JPY 2,905.00 per share

- 2017-11: JPY 2,910.00 per share

- 2017-12: JPY 3,165.00 per share

- 2018-01: JPY 3,160.00 per share

- 2018-02: JPY 2,755.00 per share

- 2018-03: JPY 2,865.00 per share

- 2018-04: JPY 2,930.00 per share

- 2018-05: JPY 2,910.00 per share

- 2018-06: JPY 2,785.00 per share

- 2018-07: JPY 3,055.00 per share

- 2018-08: JPY 3,115.00 per share

- 2018-09: JPY 3,125.00 per share

- 2018-10: JPY 2,782.00 per share

- 2018-11: JPY 2,589.00 per share

- 2018-12: JPY 2,237.00 per share

- 2019-01: JPY 2,401.00 per share

- 2019-02: JPY 2,408.00 per share

- 2019-03: JPY 2,456.00 per share

- 2019-04: JPY 2,576.00 per share

- 2019-05: JPY 1,861.00 per share

- 2019-06: JPY 1,967.00 per share

- 2019-07: JPY 2,002.00 per share

- 2019-08: JPY 1,828.00 per share

- 2019-09: JPY 2,041.00 per share

- 2019-10: JPY 2,110.00 per share

- 2019-11: JPY 2,085.00 per share

- 2019-12: JPY 2,105.00 per share

- 2020-01: JPY 1,925.00 per share

- 2020-02: JPY 1,644.00 per share

- 2020-03: JPY 1,431.00 per share

- 2020-04: JPY 1,550.00 per share

- 2020-05: JPY 1,753.00 per share

- 2020-06: JPY 1,701.00 per share

- 2020-07: JPY 1,531.00 per share

- 2020-08: JPY 1,755.00 per share

- 2020-09: JPY 1,764.00 per share

- 2020-10: JPY 1,738.00 per share

- 2020-11: JPY 1,863.00 per share

- 2020-12: JPY 1,833.00 per share

- 2021-01: JPY 1,873.00 per share

- 2021-02: JPY 1,915.00 per share

- 2021-03: JPY 2,099.00 per share

- 2021-04: JPY 1,860.00 per share

- 2021-05: JPY 2,002.00 per share

- 2021-06: JPY 1,939.00 per share

- 2021-07: JPY 1,845.00 per share

- 2021-08: JPY 2,033.00 per share

- 2021-09: JPY 2,011.00 per share

- 2021-10: JPY 2,047.00 per share

- 2021-11: JPY 1,838.00 per share

- 2021-12: JPY 1,971.00 per share

- 2022-01: JPY 2,242.00 per share

- 2022-02: JPY 2,281.00 per share

- 2022-03: JPY 2,374.00 per share

- 2022-04: JPY 2,374.00 per share

- 2022-05: JPY 2,199.00 per share

- 2022-06: JPY 2,444.00 per share

- 2022-07: JPY 2,350.00 per share

- 2022-08: JPY 2,486.00 per share

- 2022-09: JPY 2,566.00 per share

- 2022-10: JPY 2,524.00 per share

- 2022-11: JPY 2,691.00 per share

- 2022-12: JPY 3,005.00 per share

- 2023-01: JPY 2,993.00 per share

- 2023-02: JPY 3,040.00 per share

- 2023-03: JPY 2,549.00 per share

- 2023-04: JPY 2,543.00 per share

- 2023-05: JPY 2,590.00 per share

- 2023-06: JPY 2,973.00 per share

- 2023-07: JPY 3,420.00 per share

- 2023-08: JPY 3,447.00 per share

- 2023-09: JPY 3,579.00 per share

- 2023-10: JPY 3,957.00 per share

- 2023-11: JPY 3,433.00 per share

- 2023-12: JPY 3,327.00 per share

- 2024-01: JPY 3,651.00 per share

- 2024-02: JPY 3,884.00 per share

- 2024-03: JPY 4,068.00 per share

- 2024-04: JPY 4,197.00 per share

- 2024-05: JPY 4,579.00 per share

- 2024-06: JPY 4,300.00 per share

- 2024-07: JPY 4,273.00 per share

- 2024-08: JPY 3,832.00 per share

- 2024-09: JPY 3,671.00 per share

- 2024-10: JPY 3,528.00 per share

- 2024-11: JPY 4,145.00 per share

- 2024-12: JPY 3,945.00 per share

- 2025-01: JPY 4,237.00 per share

- 2025-02: JPY 3,924.00 per share

- 2025-03: JPY 3,931.00 per share

- 2025-04: JPY 3,744.00 per share

- 2025-05: JPY 3,958.00 per share

- 2025-06: JPY 3,857.00 per share

- 2025-07: JPY 4,153.00 per share

- 2025-08: JPY 4,464.00 per share

- 2025-09: JPY 4,438.00 per share

- 2025-10: JPY 4,485.00 per share

- 2025-11: JPY 4,807.00 per share

- 2025-12: JPY 5,067.00 per share

- 2026-01: JPY 5,601.00 per share

- 2026-02: JPY 6,843.00 per share

- 2026-03: JPY 5,893.00 per share

- 2026-04: JPY 6,407.00 per share

- 2026-05: JPY 6,556.00 per share

- 2026-06: JPY 6,837.00 per share

- 2026-07: JPY 7,360.00 per share

- 2026-08: JPY 7,881.00 per share

- 2026-09: JPY 7,988.00 per share

- 2026-10: JPY 7,372.00 per share

## Annual estimated value (JPY per share)

- FY2021: low JPY 1,325.23 per share, central JPY 1,588.14 per share, high JPY 1,981.18 per share

- FY2022: low JPY 1,297.66 per share, central JPY 1,547.76 per share, high JPY 1,917.28 per share

- FY2023: low JPY 1,188.90 per share, central JPY 1,406.14 per share, high JPY 1,720.52 per share

- FY2024: low JPY 1,421.40 per share, central JPY 1,673.04 per share, high JPY 2,032.96 per share

- FY2025: low JPY 1,417.04 per share, central JPY 1,666.14 per share, high JPY 2,021.48 per share

- FY2026: low JPY 1,656.03 per share, central JPY 1,945.42 per share, high JPY 2,357.35 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T07:11:44.832Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original EDINET filing](https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YFNB.pdf); period 2026-03-31, filed 2026-06-19.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

Fukuoka Financial Group

8354 · JP

Nikkei 225

Not a wonderful business

3 quality tests fail. A lower price would not fix the business.

Share price: JPY 7,153.00
Buy up to: JPY 1,945.65
Expected / yr: 5.8% at today's price (10.0% at central value)

The business

How it makes money
Why customers stay
Where the cash goes
What the price says

1. Is this a good business?

Evidence only; not required for Buy

Profits were positive in 9 years (at least 9 needed).

Net income

10y median: JPY 53B
Worst year: JPY -54B
Latest · 2026: JPY 85B

Earned a median 6.3% on tangible equity (minimum 12%), and the second-worst year 3.5% (minimum 5%).

Return on tangible common equity

10y median: 6.3%
Worst year: -7.8%
Latest · 2026: 8.2%

Book value plus dividends grew 5.7% a year (minimum 7%).

Annual book + dividend return

10y median: 4.0%
Worst year: -7.7%
Latest · 2026: 18.8%

Book value gained 1628.76 per share against 1700.99 kept (must cover the amount kept).

Shares (first year = 100)

11y median: 109
Worst year: 110
Latest · 2026: 109

0 accounting warnings were found (none allowed).

accounting warnings: 0
Passing bar: ≤ 0

Profit record · pass 1 loss year in 10 (at most 2), three-year average earnings per share 386.1 JPY.

2. Is the price low enough?

PriceEstimated rangeBuy price

2016-11 · Price JPY 2475.00; 2016-12 · Price JPY 2595.00; 2017-01 · Price JPY 2500.00; 2017-02 · Price JPY 2620.00; 2017-03 · Price JPY 2410.00; 2017-04 · Price JPY 2540.00; 2017-05 · Price JPY 2490.00; 2017-06 · Price JPY 2670.00; 2017-07 · Price JPY 2545.00; 2017-08 · Price JPY 2415.00; 2017-09 · Price JPY 2600.00; 2017-10 · Price JPY 2905.00; 2017-11 · Price JPY 2910.00; 2017-12 · Price JPY 3165.00; 2018-01 · Price JPY 3160.00; 2018-02 · Price JPY 2755.00; 2018-03 · Price JPY 2865.00; 2018-04 · Price JPY 2930.00; 2018-05 · Price JPY 2910.00; 2018-06 · Price JPY 2785.00; 2018-07 · Price JPY 3055.00; 2018-08 · Price JPY 3115.00; 2018-09 · Price JPY 3125.00; 2018-10 · Price JPY 2782.00; 2018-11 · Price JPY 2589.00; 2018-12 · Price JPY 2237.00; 2019-01 · Price JPY 2401.00; 2019-02 · Price JPY 2408.00; 2019-03 · Price JPY 2456.00; 2019-04 · Price JPY 2576.00; 2019-05 · Price JPY 1861.00; 2019-06 · Price JPY 1967.00; 2019-07 · Price JPY 2002.00; 2019-08 · Price JPY 1828.00; 2019-09 · Price JPY 2041.00; 2019-10 · Price JPY 2110.00; 2019-11 · Price JPY 2085.00; 2019-12 · Price JPY 2105.00; 2020-01 · Price JPY 1925.00; 2020-02 · Price JPY 1644.00; 2020-03 · Price JPY 1431.00; 2020-04 · Price JPY 1550.00; 2020-05 · Price JPY 1753.00; 2020-06 · Price JPY 1701.00; 2020-07 · Price JPY 1531.00; 2020-08 · Price JPY 1755.00; 2020-09 · Price JPY 1764.00; 2020-10 · Price JPY 1738.00; 2020-11 · Price JPY 1863.00; 2020-12 · Price JPY 1833.00; 2021-01 · Price JPY 1873.00 · Value 1588.14 · Buy at or below 1588.14; 2021-02 · Price JPY 1915.00 · Value 1588.14 · Buy at or below 1588.14; 2021-03 · Price JPY 2099.00 · Value 1588.14 · Buy at or below 1588.14; 2021-04 · Price JPY 1860.00 · Value 1588.14 · Buy at or below 1588.14; 2021-05 · Price JPY 2002.00 · Value 1588.14 · Buy at or below 1588.14; 2021-06 · Price JPY 1939.00 · Value 1588.14 · Buy at or below 1588.14; 2021-07 · Price JPY 1845.00 · Value 1588.14 · Buy at or below 1588.14; 2021-08 · Price JPY 2033.00 · Value 1588.14 · Buy at or below 1588.14; 2021-09 · Price JPY 2011.00 · Value 1588.14 · Buy at or below 1588.14; 2021-10 · Price JPY 2047.00 · Value 1588.14 · Buy at or below 1588.14; 2021-11 · Price JPY 1838.00 · Value 1588.14 · Buy at or below 1588.14; 2021-12 · Price JPY 1971.00 · Value 1588.14 · Buy at or below 1588.14; 2022-01 · Price JPY 2242.00 · Value 1588.14 · Buy at or below 1588.14; 2022-02 · Price JPY 2281.00 · Value 1547.76 · Buy at or below 1547.76; 2022-03 · Price JPY 2374.00 · Value 1547.76 · Buy at or below 1547.76; 2022-04 · Price JPY 2374.00 · Value 1547.76 · Buy at or below 1547.76; 2022-05 · Price JPY 2199.00 · Value 1547.76 · Buy at or below 1547.76; 2022-06 · Price JPY 2444.00 · Value 1547.76 · Buy at or below 1547.76; 2022-07 · Price JPY 2350.00 · Value 1547.76 · Buy at or below 1547.76; 2022-08 · Price JPY 2486.00 · Value 1547.76 · Buy at or below 1547.76; 2022-09 · Price JPY 2566.00 · Value 1547.76 · Buy at or below 1547.76; 2022-10 · Price JPY 2524.00 · Value 1547.76 · Buy at or below 1547.76; 2022-11 · Price JPY 2691.00 · Value 1547.76 · Buy at or below 1547.76; 2022-12 · Price JPY 3005.00 · Value 1547.76 · Buy at or below 1547.76; 2023-01 · Price JPY 2993.00 · Value 1547.76 · Buy at or below 1547.76; 2023-02 · Price JPY 3040.00 · Value 1406.14 · Buy at or below 1406.14; 2023-03 · Price JPY 2549.00 · Value 1406.14 · Buy at or below 1406.14; 2023-04 · Price JPY 2543.00 · Value 1406.14 · Buy at or below 1406.14; 2023-05 · Price JPY 2590.00 · Value 1406.14 · Buy at or below 1406.14; 2023-06 · Price JPY 2973.00 · Value 1406.14 · Buy at or below 1406.14; 2023-07 · Price JPY 3420.00 · Value 1406.14 · Buy at or below 1406.14; 2023-08 · Price JPY 3447.00 · Value 1406.14 · Buy at or below 1406.14; 2023-09 · Price JPY 3579.00 · Value 1406.14 · Buy at or below 1406.14; 2023-10 · Price JPY 3957.00 · Value 1406.14 · Buy at or below 1406.14; 2023-11 · Price JPY 3433.00 · Value 1406.14 · Buy at or below 1406.14; 2023-12 · Price JPY 3327.00 · Value 1406.14 · Buy at or below 1406.14; 2024-01 · Price JPY 3651.00 · Value 1406.14 · Buy at or below 1406.14; 2024-02 · Price JPY 3884.00 · Value 1673.04 · Buy at or below 1673.04; 2024-03 · Price JPY 4068.00 · Value 1673.04 · Buy at or below 1673.04; 2024-04 · Price JPY 4197.00 · Value 1673.04 · Buy at or below 1673.04; 2024-05 · Price JPY 4579.00 · Value 1673.04 · Buy at or below 1673.04; 2024-06 · Price JPY 4300.00 · Value 1673.04 · Buy at or below 1673.04; 2024-07 · Price JPY 4273.00 · Value 1673.04 · Buy at or below 1673.04; 2024-08 · Price JPY 3832.00 · Value 1673.04 · Buy at or below 1673.04; 2024-09 · Price JPY 3671.00 · Value 1673.04 · Buy at or below 1673.04; 2024-10 · Price JPY 3528.00 · Value 1673.04 · Buy at or below 1673.04; 2024-11 · Price JPY 4145.00 · Value 1673.04 · Buy at or below 1673.04; 2024-12 · Price JPY 3945.00 · Value 1673.04 · Buy at or below 1673.04; 2025-01 · Price JPY 4237.00 · Value 1673.04 · Buy at or below 1673.04; 2025-02 · Price JPY 3924.00 · Value 1666.14 · Buy at or below 1666.14; 2025-03 · Price JPY 3931.00 · Value 1666.14 · Buy at or below 1666.14; 2025-04 · Price JPY 3744.00 · Value 1666.14 · Buy at or below 1666.14; 2025-05 · Price JPY 3958.00 · Value 1666.14 · Buy at or below 1666.14; 2025-06 · Price JPY 3857.00 · Value 1666.14 · Buy at or below 1666.14; 2025-07 · Price JPY 4153.00 · Value 1666.14 · Buy at or below 1666.14; 2025-08 · Price JPY 4464.00 · Value 1666.14 · Buy at or below 1666.14; 2025-09 · Price JPY 4438.00 · Value 1666.14 · Buy at or below 1666.14; 2025-10 · Price JPY 4485.00 · Value 1666.14 · Buy at or below 1666.14; 2025-11 · Price JPY 4807.00 · Value 1666.14 · Buy at or below 1666.14; 2025-12 · Price JPY 5067.00 · Value 1666.14 · Buy at or below 1666.14; 2026-01 · Price JPY 5601.00 · Value 1666.14 · Buy at or below 1666.14; 2026-02 · Price JPY 6843.00 · Value 1945.42 · Buy at or below 1945.42; 2026-03 · Price JPY 5893.00 · Value 1945.42 · Buy at or below 1945.42; 2026-04 · Price JPY 6407.00 · Value 1945.42 · Buy at or below 1945.42; 2026-05 · Price JPY 6556.00 · Value 1945.42 · Buy at or below 1945.42; 2026-06 · Price JPY 6837.00 · Value 1945.42 · Buy at or below 1945.42; 2026-07 · Price JPY 7360.00 · Value 1945.42 · Buy at or below 1945.42; 2026-08 · Price JPY 7881.00 · Value 1945.42 · Buy at or below 1945.42; 2026-09 · Price JPY 7988.00 · Value 1945.42 · Buy at or below 1945.42; 2026-10 · Price JPY 7372.00 · Value 1945.42 · Buy at or below 1945.42; 2026-10 · Price JPY 7153.00 · Value 1945.42 · Buy at or below 1945.42

JPY per share · annual estimates

Price & return math
Value range	JPY 1,656.23 – JPY 2,357.64
Buy at or below	Central value JPY 1,945.65
Discount to value	1 − 7153.00 / 1945.65 = -267.6%
Return / year	About 5.8% a year at today's price (required return 10.0%)
Cash-flow inputs	Book JPY 5498.62/share; ROE 6.3%; first payout JPY 111.34/share, growing 4.3% perpetually (4× book payout cap applied).
Required return	10.0% / year, earned by construction at the central value

Net incomeJPY 85B

Net income

Book / shareJPY 5K

Book / share

Dividend / shareJPY 155.16

Dividend / share

Return on tangible equity8.2%

Return on tangible equity

Diluted shares189M

Diluted shares

Prices 15 Oct 2026 · FY2026Original filing ↗ ·