# Chugin Financial Group, Inc.: 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4期(2025/04/01－2026/03/31) (S100YB0D)
> Page: https://vizora.meequs.com/en/company/chugin-financial-group
> Retrieved: 2026-09-30T20:42:21.870Z

## Company

Chugin Financial Group, founded in 2022, is a company in Regional Banks listed on TSE Prime. It has 3,025 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Chugin Financial Group, Inc. |
| Ticker | 5832 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5832.T) |
| Listing | TSE Prime |
| Head office | 岡山市北区丸の内一丁目15番20号 |
| Representative (per filing) | 取締役社長 加藤 貞則 |
| Founded | May 2022 |
| Employees (consolidated) | 3,025 |
| Average salary (parent only) | ¥9.5M |
| Fiscal year end | March |
| Website | www.chugin-fg.co.jp (https://www.chugin-fg.co.jp/) |
| Corporate number | 1260001037279 |
| EDINET | E37785 |
| Industries (Vizora) | Regional Banks, Securities & Asset Management, Leasing |

> Profile source: annual securities report (S100YB0D, filed 2026-06-15). As of filing

## Key points (generated from figures)

- About 91% of Chugin Financial Group's ordinary revenue comes from Banking, with Leasing and Securities making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥22 is left as ordinary profit.
- Ordinary revenue changed +17.6% from the prior year, ordinary profit +46.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥249.1B |  |
| Ordinary income | ¥56B | Margin 22.5% |
| Net income | ¥39.7B | Margin 15.9% |
| Employees (consolidated) | 3,025 |  |
| EPS | ¥210.74 |  |
| Diluted EPS | ¥210.58 |  |
| Book value per share | ¥2852.73 |  |
| Equity ratio | 5.5% |  |
| Shares outstanding | 184,771,000 |  |
| Treasury shares | 7,005,200 |  |
| Shareholders | 17,070 |  |
| Average salary (parent only) | ¥9.5M | Filing company only |

## What changed in 3 years

| Metric | FY ending Mar 2023 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥179860000000 | ¥249074000000 | +38.5% |
| Employees | 3,009 people | 3,025 people | +0.5% |
| Cash and equivalents | ¥1506361000000 | ¥973331000000 | -35.4% |

### Change in segment revenue mix

Span: FY ending Mar 2023 → 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 | 90.8% |
| 銀行業 → 事業再編・廃止 | 0.7% |
| リース業 → リース業 | 5.7% |
| 証券業 → 証券業 | 1.6% |
| その他 → その他 | 1.2% |
| 新設・再編 → リース業 | 0.1% |
| 新設・再編 → 証券業 | 0.4% |
| 新設・再編 → その他 | 0.2% |

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 | 3 years | +11.2% | ¥226071000000 | 23.2% | 2 |
| Leasing | 3 years | +11.9% | ¥14415000000 | 3.8% | 2 |
| Securities | 3 years | +19.5% | ¥4950000000 | 27.5% | 2 |
| Other | 3 years | +17.5% | ¥3636000000 | 1052.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 249,074 | 100.0% | S100YB0D |
| Ordinary expenses | 193,036 | 77.5% | S100YB0D |
| Ordinary income | 56,038 | 22.5% | S100YB0D |
| Extraordinary income | 13 | 0.0% | S100YB0D |
| Extraordinary loss | 385 | 0.2% | S100YB0D |
| Pretax income | 55,666 | 22.3% | S100YB0D |
| Income tax | 15,960 | 6.4% | S100YB0D |
| Net income | 39,705 | 15.9% | S100YB0D |
| Net income attributable to owners | 39,705 | 15.9% | S100YB0D |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 78 |
| Ordinary income | 22 |
| (Ref.) Net income | 16 |

### Margin funnel

Ordinary margin 22.5% → Net margin 15.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.6%; Core profit growth: +46.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.62×
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 | 211,734 | 249,074 | 37,340 | +17.6% |
| Net income attributable to owners | 27,434 | 39,705 | 12,271 | +44.7% |
| Operating cash flow | 46,944 | 70,904 | 23,960 | +51.0% |
| Free cash flow | 35,039 | 61,993 | 26,954 | +76.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2023 | 179,860 | — | — | 20,486 | -403,482 | -406,267 | S100TNEG |
| FY ending Mar 2024 | 184,661 | — | — | 21,389 | 115,595 | 111,051 | S100VZPR |
| FY ending Mar 2025 | 211,734 | — | — | 27,434 | 46,944 | 35,039 | S100YB0D |
| FY ending Mar 2026 | 249,074 | — | — | 39,705 | 70,904 | 61,993 | S100YB0D |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥82.3M |
| Net income per employee (consolidated) | ¥13.1M |

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

| History | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 3,009 | 2,988 | 3,015 | 3,025 |
| Average salary (parent company) | ¥5.9M | ¥8.2M | ¥8.3M | ¥9.5M |
| Average age (parent company) | 43.0 years | 41.0 years | 39.3 years | 40.7 years |
| Average tenure (parent company) | 19.1 years | 17.6 years | 15.4 years | 16.7 years |

Year over year: Employees (consolidated) +0.3% · Revenue (consolidated) +17.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 226,071 | 90.8% | 52,480 | 23.2% |
| Leasing | 14,415 | 5.8% | 550 | 3.8% |
| Securities | 4,950 | 2.0% | 1,360 | 27.5% |
| Other | 3,636 | 1.5% | 38,285 | 1052.9% |

### 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 | 90.8% |
| Leasing | 5.8% |
| Securities | 2.0% |
| Other | 1.5% |

Segment → industry: Banking → Regional Banks / Securities → Securities & Asset Management / 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 | 70,904 | 28.5% | S100YB0D |
| Capital expenditure | 8,911 | 3.6% | S100YB0D |
| Free cash flow | 61,993 | 24.9% | 算出 |
| Investing cash flow | -293,176 | -117.7% | S100YB0D |
| Financing cash flow | -6,114 | -2.5% | S100YB0D |
| Dividends paid | 12,928 | 5.2% | S100YB0D |
| Share buyback | 3,001 | 1.2% | S100YB0D |
| Change in cash | -228,386 | -91.7% | S100YB0D |
| Cash and equivalents | 973,331 | 390.8% | S100YB0D |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社 | Major shareholder | 13.3% | 2026-03-31 |
| 株式会社日本カストディ銀行 | Major shareholder | 5.5% | 2026-03-31 |
| 岡山土地倉庫株式会社 | Major shareholder | 3.0% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 2.7% | 2026-03-31 |
| 倉敷紡績株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| シーピー化成株式会社 | Major shareholder | 2.5% | 2026-03-31 |
| ちゅうぎんフィナンシャルグループ従業員持株会 | Major shareholder | 2.4% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.1% | 2026-03-31 |
| 静林業株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第4期(2025/04/01－2026/03/31) | S100YB0D | 2026-06-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YB0D,, |
| 有価証券報告書－第3期(2024/04/01－2025/03/31) | S100VZPR | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZPR,, |
| 有価証券報告書－第2期(2023/04/01－2024/03/31) | S100TNEG | 2024-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNEG,, |
| 有価証券報告書－第1期(2022/04/01－2023/03/31) | S100QYOR | 2023-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QYOR,, |

## 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).