# Bank of The Ryukyus,Limited: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第110期(2025/04/01－2026/03/31) (S100YR60)
> Page: https://vizora.meequs.com/en/company/bank-of-the-ryukyus
> Retrieved: 2026-09-30T19:19:23.034Z

## Company

Bank of The Ryukyus, founded in 1948, is a company in IT Services & System Integration listed on TSE Prime. It has 1,802 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Bank of The Ryukyus, Limited |
| Ticker | 8399 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8399.T) |
| Listing | TSE Prime |
| Head office | 沖縄県那覇市久茂地1丁目11番1号 |
| Representative (per filing) | 取締役頭取 島袋健 |
| Founded | May 1948 |
| Employees (consolidated) | 1,802 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.ryugin.co.jp (https://www.ryugin.co.jp/) |
| Corporate number | 6360001000404 |
| EDINET | E03602 |
| Industries (Vizora) | IT Services & System Integration, Regional Banks, Credit Cards & Consumer Credit, Leasing, Consulting |

> Profile source: annual securities report (S100YR60, filed 2026-07-17). As of filing

## Key points (generated from figures)

- About 67% of Bank of The Ryukyus's ordinary revenue comes from Banking business, with Leasing business and Credit card business making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥16 is left as ordinary profit.
- Ordinary revenue changed +16.1% from the prior year, ordinary profit +56.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥80.3B |  |
| Ordinary income | ¥13.1B | Margin 16.3% |
| Net income | ¥9.08B | Margin 11.3% |
| Employees (consolidated) | 1,802 |  |
| EPS | ¥205.11 |  |
| Diluted EPS | ¥204.99 |  |
| Book value per share | ¥3051 |  |
| Equity ratio | 4.7% |  |
| Shares outstanding | 43,108,000 |  |
| Treasury shares | 2,102,100 |  |
| Shareholders | 15,721 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |

## Notable figures

- FY2026, operating cash flow is 2.4× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥57278000000 | ¥80322000000 | +40.2% |
| Employees | 1,558 people | 1,802 people | +15.7% |
| Cash and equivalents | ¥524688000000 | ¥160634000000 | -69.4% |

### 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 | 63.8% |
| リース業 → リース業 | 24.3% |
| リース業 → 事業再編・廃止 | 5.4% |
| クレジットカード業 → クレジットカード業 | 4.0% |
| クレジットカード業 → 事業再編・廃止 | 1.3% |
| 信用保証業 → 信用保証業 | 0.5% |
| 信用保証業 → 事業再編・廃止 | 0.8% |
| その他 → その他 | 0.0% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 銀行業 | 3.7% |
| 新設・再編 → IT事業 | 3.7% |

Segment revenue source references: 11 (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 business | 5 years | +8.2% | ¥54192000000 | 21.8% | 2 |
| Leasing business | 5 years | +2.8% | ¥19527000000 | 4.0% | 2 |
| Credit card business | 5 years | +1.2% | ¥3177000000 | 22.3% | 2 |
| IT business | 3 years | +36.2% | ¥2997000000 | 2.7% | 2 |
| Credit guarantee business | 5 years | -10.7% | ¥421000000 | 92.4% | 2 |
| Other | 5 years | -9.7% | ¥6000000 | 66.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 80,322 | 100.0% | S100YR60 |
| Ordinary expenses | 67,261 | 83.7% | S100YR60 |
| Ordinary income | 13,060 | 16.3% | S100YR60 |
| Extraordinary income | 1 | 0.0% | S100YR60 |
| Extraordinary loss | 111 | 0.1% | S100YR60 |
| Pretax income | 12,950 | 16.1% | S100YR60 |
| Income tax | 3,866 | 4.8% | S100YR60 |
| Net income | 9,084 | 11.3% | S100YR60 |
| Net income attributable to owners | 9,084 | 11.3% | S100YR60 |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 84 |
| Ordinary income | 16 |
| (Ref.) Net income | 11 |

### Margin funnel

Ordinary margin 16.3% → Net margin 11.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +16.1%; Core profit growth: +56.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.53×
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 | 69,193 | 80,322 | 11,129 | +16.1% |
| Net income attributable to owners | 5,751 | 9,084 | 3,333 | +58.0% |
| Operating cash flow | -151,555 | 21,722 | 173,277 | — |
| Free cash flow | -164,371 | 13,212 | 177,583 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 60,717 | — | — | 6,494 | -49,329 | — | S100LLKK |
| FY ending Mar 2018 | 63,027 | — | — | 8,785 | -8,384 | — | S100OIFE |
| FY ending Mar 2019 | 62,117 | — | — | 6,105 | -61,286 | — | S100R1OH |
| FY ending Mar 2020 | 62,735 | — | — | 4,951 | 31,120 | 27,228 | S100LLKK |
| FY ending Mar 2021 | 57,278 | — | — | 2,579 | 295,374 | 291,703 | S100OIFE |
| FY ending Mar 2022 | 57,011 | — | — | 5,590 | 286,117 | 283,121 | S100R1OH |
| FY ending Mar 2023 | 60,093 | — | — | 5,896 | -52,266 | -56,550 | S100TR2A |
| FY ending Mar 2024 | 65,951 | — | — | 5,651 | -37,259 | -51,206 | S100WI84 |
| FY ending Mar 2025 | 69,193 | — | — | 5,751 | -151,555 | -164,371 | S100YR60 |
| FY ending Mar 2026 | 80,322 | — | — | 9,084 | 21,722 | 13,212 | S100YR60 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥44.6M |
| Net income per employee (consolidated) | ¥5M |

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) | 1,544 | 1,758 | 1,772 | 1,794 | 1,802 |
| Average salary (parent company) | ¥6.1M | ¥6.1M | ¥6.1M | ¥6.2M | ¥6.4M |
| Average age (parent company) | 40.0 years | 40.0 years | 40.0 years | 39.0 years | 39.0 years |
| Average tenure (parent company) | 17.0 years | 16.0 years | 16.0 years | 15.0 years | 15.0 years |

Year over year: Employees (consolidated) +0.4% · Revenue (consolidated) +16.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking business | 54,192 | 67.5% | 11,792 | 21.8% |
| Leasing business | 19,527 | 24.3% | 784 | 4.0% |
| Credit card business | 3,177 | 4.0% | 710 | 22.3% |
| Credit guarantee business | 421 | 0.5% | 389 | 92.4% |
| IT business | 2,997 | 3.7% | 81 | 2.7% |
| Other | 6 | 0.0% | 4 | 66.7% |

### 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 business | 67.5% |
| Leasing business | 24.3% |
| Credit card business | 4.0% |
| Credit guarantee business | 0.5% |
| IT business | 3.7% |
| Other | 0.0% |

Segment → industry: IT business → IT Services & System Integration / Banking business → Regional Banks / Credit guarantee business → Credit Cards & Consumer Credit / Credit card business → Credit Cards & Consumer Credit / Leasing business → Leasing / Other → Consulting

## 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 | 21,722 | 27.0% | S100YR60 |
| Capital expenditure | 8,510 | 10.6% | S100YR60 |
| Free cash flow | 13,212 | 16.4% | 算出 |
| Investing cash flow | -29,330 | -36.5% | S100YR60 |
| Financing cash flow | -2,581 | -3.2% | S100YR60 |
| Dividends paid | 1,888 | 2.4% | S100YR60 |
| Share buyback | 502 | 0.6% | S100YR60 |
| Change in cash | -10,146 | -12.6% | S100YR60 |
| Cash and equivalents | 160,634 | 200.0% | S100YR60 |

## 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 | 12.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.4% | 2026-03-31 |
| QRファンド投資事業有限責任組合 | Major shareholder | 3.1% | 2026-03-31 |
| 琉球銀行行員持株会 | Major shareholder | 2.6% | 2026-03-31 |
| 豊里 友成 | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223（常任代理人 株式会社みずほ銀行） | Major shareholder | 1.9% | 2026-03-31 |
| BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/ LUXEMBOURG FUNDS/UCITS ASSETS（常任代理人 香港上海銀行） | Major shareholder | 1.5% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781（常任代理人 株式会社みずほ銀行） | Major shareholder | 1.4% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| 株式会社オーエスジー | Major shareholder | 1.2% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第110期(2025/04/01－2026/03/31) | S100YR60 | 2026-07-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YR60,, |
| 訂正有価証券報告書－第109期(2024/04/01－2025/03/31) | S100WI84 | 2025-08-13 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WI84,, |
| 有価証券報告書－第108期(2023/04/01－2024/03/31) | S100TR2A | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TR2A,, |
| 有価証券報告書－第107期(2022/04/01－2023/03/31) | S100R1OH | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1OH,, |
| 有価証券報告書－第106期(令和3年4月1日－令和4年3月31日) | S100OIFE | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIFE,, |
| 有価証券報告書－第105期(令和2年4月1日－令和3年3月31日) | S100LLKK | 2021-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLKK,, |

## 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).