# THE BANK OF SAGA LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第97期(2025/04/01－2026/03/31) (S100YH10)
> Page: https://vizora.meequs.com/en/company/bank-of-saga
> Retrieved: 2026-09-30T20:40:40.038Z

## Company

THE Bank of Saga, founded in 1955, is a company in Regional Banks listed on TSE Prime. It has 1,286 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | THE BANK OF SAGA LTD. |
| Ticker | 8395 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8395.T) |
| Listing | TSE Prime |
| Head office | 佐賀県佐賀市唐人二丁目7番20号 |
| Representative (per filing) | 取締役頭取 坂井秀明 |
| Founded | Jul 1955 |
| Employees (consolidated) | 1,286 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.sagabank.co.jp (https://www.sagabank.co.jp/) |
| Corporate number | 9300001000183 |
| EDINET | E03599 |
| Industries (Vizora) | Regional Banks, Leasing |

> Profile source: annual securities report (S100YH10, filed 2026-06-23). As of filing

## Key points (generated from figures)

- About 88% of THE Bank of Saga's ordinary revenue comes from Banking, with Leasing and Other making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥17 is left as ordinary profit.
- Ordinary revenue changed +30.1% from the prior year, ordinary profit +11.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥71.8B |  |
| Ordinary income | ¥12.3B | Margin 17.1% |
| Net income | ¥8.59B | Margin 11.9% |
| Employees (consolidated) | 1,286 |  |
| EPS | ¥473.9 |  |
| Diluted EPS | ¥470.89 |  |
| Book value per share | ¥7331.26 |  |
| Equity ratio | 3.9% |  |
| Shares outstanding | 16,935,000 |  |
| Treasury shares | 34,000 |  |
| Shareholders | 5,791 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥41153000000 | ¥71846000000 | +74.6% |
| Employees | 1,389 people | 1,286 people | -7.4% |
| Cash and equivalents | ¥370725000000 | ¥277823000000 | -25.1% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 銀行業 → 銀行業 | 79.5% |
| リース業 → リース業 | 10.8% |
| リース業 → 事業再編・廃止 | 8.1% |
| 信用保証業 → 信用保証業 | 0.6% |
| 信用保証業 → 事業再編・廃止 | 0.1% |
| その他 → その他 | 0.9% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 銀行業 | 8.2% |

Segment revenue source references: 8 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Banking | 5 years | +14.0% | ¥63008000000 | 18.2% | 2 |
| Leasing | 5 years | -0.0% | ¥7787000000 | 4.1% | 2 |
| Other | 5 years | +11.2% | ¥619000000 | 22.3% | 2 |
| Credit guarantee | 5 years | +8.9% | ¥431000000 | 80.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 71,846 | 100.0% | S100YH10 |
| Ordinary expenses | 59,538 | 82.9% | S100YH10 |
| Ordinary income | 12,307 | 17.1% | S100YH10 |
| Extraordinary income | 33 | 0.0% | S100YH10 |
| Extraordinary loss | 276 | 0.4% | S100YH10 |
| Pretax income | 12,064 | 16.8% | S100YH10 |
| Income tax | 3,478 | 4.8% | S100YH10 |
| Net income | 8,585 | 11.9% | S100YH10 |
| Net income attributable to owners | 8,585 | 11.9% | S100YH10 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 83 |
| Ordinary income | 17 |
| (Ref.) Net income | 12 |

### Margin funnel

Ordinary margin 17.1% → Net margin 11.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +30.1%; Core profit growth: +11.9%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.39×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 55,231 | 71,846 | 16,615 | +30.1% |
| Net income attributable to owners | 7,496 | 8,585 | 1,089 | +14.5% |
| Operating cash flow | -23,726 | -75,446 | -51,720 | — |
| Free cash flow | -27,661 | -79,875 | -52,214 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 44,106 | — | — | 2,898 | 27,555 | — | S100LSRI |
| FY ending Mar 2018 | 39,622 | — | — | 6,650 | 22,423 | — | S100OHRR |
| FY ending Mar 2019 | 46,664 | — | — | 2,636 | -150,863 | — | S100RDE9 |
| FY ending Mar 2020 | 41,400 | — | — | 2,441 | 50,914 | 50,172 | S100LSRI |
| FY ending Mar 2021 | 41,153 | — | — | 2,465 | 232,201 | 230,854 | S100OHRR |
| FY ending Mar 2022 | 43,861 | — | — | 4,076 | -1,987 | -3,153 | S100RDE9 |
| FY ending Mar 2023 | 47,675 | — | — | 5,491 | -188,817 | -190,172 | S100TTHC |
| FY ending Mar 2024 | 53,013 | — | — | 6,218 | 113,056 | 110,662 | S100W553 |
| FY ending Mar 2025 | 55,231 | — | — | 7,496 | -23,726 | -27,661 | S100YH10 |
| FY ending Mar 2026 | 71,846 | — | — | 8,585 | -75,446 | -79,875 | S100YH10 |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥55.9M |
| Net income per employee (consolidated) | ¥6.7M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,351 | 1,308 | 1,294 | 1,284 | 1,286 |
| Average salary (parent company) | ¥5.9M | ¥6M | ¥6.1M | ¥6.1M | ¥6.4M |
| Average age (parent company) | 40.9 years | 41.1 years | 41.0 years | 40.7 years | 40.2 years |
| Average tenure (parent company) | 18.2 years | 18.0 years | 18.0 years | 18.1 years | 17.8 years |

Year over year: Employees (consolidated) +0.2% · Revenue (consolidated) +30.1%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 63,008 | 87.7% | 11,461 | 18.2% |
| Leasing | 7,787 | 10.8% | 319 | 4.1% |
| Credit guarantee | 431 | 0.6% | 345 | 80.0% |
| Other | 619 | 0.9% | 138 | 22.3% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share |
| --- | ---: |
| Banking | 87.7% |
| Leasing | 10.8% |
| Credit guarantee | 0.6% |
| Other | 0.9% |

Segment → industry: Credit guarantee → Regional Banks / Banking → Regional Banks / Leasing → Leasing

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -75,446 | -105.0% | S100YH10 |
| Capital expenditure | 4,429 | 6.2% | S100YH10 |
| Free cash flow | -79,875 | -111.2% | 算出 |
| Investing cash flow | 84,534 | 117.7% | S100YH10 |
| Financing cash flow | -1,691 | -2.4% | S100YH10 |
| Dividends paid | 1,686 | 2.3% | S100YH10 |
| Share buyback | 4 | 0.0% | S100YH10 |
| Change in cash | 7,397 | 10.3% | S100YH10 |
| Cash and equivalents | 277,823 | 386.7% | S100YH10 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 8.3% | 2026-03-31 |
| 佐賀銀行行員持株会 | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社十八親和銀行 | Major shareholder | 3.1% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.6% | 2026-03-31 |
| 株式会社肥後銀行 | Major shareholder | 2.1% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 野田 政信 | Major shareholder | 1.9% | 2026-03-31 |
| 高橋 慧 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社福岡銀行 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第97期(2025/04/01－2026/03/31) | S100YH10 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH10,, |
| 有価証券報告書－第96期(2024/04/01－2025/03/31) | S100W553 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W553,, |
| 有価証券報告書－第95期(2023/04/01－2024/03/31) | S100TTHC | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTHC,, |
| 訂正有価証券報告書－第94期(2022/04/01－2023/03/31) | S100RDE9 | 2023-07-11 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RDE9,, |
| 有価証券報告書－第93期(令和3年4月1日－令和4年3月31日) | S100OHRR | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHRR,, |
| 有価証券報告書－第92期(令和2年4月1日－令和3年3月31日) | S100LSRI | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSRI,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).