# Credit Saison Co.,Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第76期(2025/04/01－2026/03/31) (S100YCDE)
> Page: https://vizora.meequs.com/en/company/credit-saison
> Retrieved: 2026-09-30T19:01:58.817Z

## Company

Credit Saison, founded in 1951, is a company in Credit Cards & Consumer Credit listed on TSE Prime. It has 6,346 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Credit Saison Co.,Ltd. |
| Ticker | 8253 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8253.T) |
| Listing | TSE Prime |
| Head office | 東京都豊島区東池袋三丁目1番1号 |
| Representative (per filing) | 代表取締役(兼)社長執行役員COO 水野克己 |
| Founded | May 1951 |
| Share capital | ¥75.9B |
| Employees (consolidated) | 6,346 |
| Average salary (parent only) | ¥6.7M |
| Fiscal year end | March |
| Website | saisoncard.co.jp (https://saisoncard.co.jp/) |
| Corporate number | 2013301002884 |
| EDINET | E03041 |
| Industries (Vizora) | Credit Cards & Consumer Credit, Consumer Finance, Leasing, Events & Ticketing, Amusement Centers & Karaoke, Real Estate Development & Leasing |

> Profile source: annual securities report (S100YCDE, filed 2026-06-16). As of filing

## Key points (generated from figures)

- About 50% of Credit Saison's sales come from Payment, with Finance and Real Estate related making up much of the rest.
- Out of every ¥100 of sales, about ¥26 is left as operating profit.
- Revenue changed +11.8% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥472.8B |  |
| Operating income | — | Margin — |
| Net income | ¥61.7B | Margin 13.1% |
| Free cash flow | -¥153.8B |  |
| Largest business | Payment | of segment revenue 50.3% |
| Employees (consolidated) | 6,346 |  |
| EPS | ¥425.13 |  |
| Diluted EPS | ¥424.61 |  |
| Book value per share | ¥3645.79 |  |
| Equity ratio | 15.4% | Derived from disclosed figures |
| Shares outstanding | 185,444,772 |  |
| Treasury shares | 40,452,400 |  |
| Shareholders | 12,172 |  |
| Average salary (parent only) | ¥6.7M | Filing company only |
| Cash ratio | 2.3% | Cash ÷ revenue 23.8% |
| ROE | 8.4% | Derived from disclosed figures |
| ROA | 1.3% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.2× dividends
- FY2026, segment profit share differs by 30 points
- FY2026, parent-company salary changed +28% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥282625000000 | ¥472770000000 | +67.3% |
| Employees | 5,623 people | 6,346 people | +12.9% |
| Cash and equivalents | ¥101001000000 | ¥112317000000 | +11.2% |

### 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 |
| --- | ---: |
| ペイメント事業 → ペイメント事業 | 50.3% |
| ペイメント事業 → 事業再編・廃止 | 13.5% |
| リース事業 → リース事業 | 2.7% |
| リース事業 → 事業再編・廃止 | 1.1% |
| ファイナンス事業 → ファイナンス事業 | 13.3% |
| 不動産関連事業 → 不動産関連事業 | 10.0% |
| エンタテインメント事業 → エンタテインメント事業 | 7.1% |
| エンタテインメント事業 → 事業再編・廃止 | 2.0% |
| 新設・再編 → ファイナンス事業 | 2.1% |
| 新設・再編 → 不動産関連事業 | 3.0% |
| 新設・再編 → グローバル事業 | 11.4% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Payment | 5 years | +5.8% | ¥274965000000 | 11.1% | 2 |
| Finance | 5 years | +14.2% | ¥84476000000 | 56.0% | 2 |
| Real Estate related | 5 years | +17.0% | ¥70987000000 | 27.1% | 2 |
| Global | 3 years | +76.4% | ¥62438000000 | -2.3% | 2 |
| Entertainment | 5 years | +5.5% | ¥38623000000 | 6.7% | 2 |
| Lease | 5 years | +3.8% | ¥14780000000 | 31.6% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 472,770 | 100.0% | S100YCDE |
| Cost of revenue | 73,501 | 15.5% | S100YCDE |
| Gross profit | 399,269 | 84.5% | 算出 |
| SG&A | 274,260 | 58.0% | S100YCDE |
| Pretax income | 89,980 | 19.0% | S100YCDE |
| Income tax | 27,407 | 5.8% | S100YCDE |
| Net income | 62,572 | 13.2% | S100YCDE |
| Net income attributable to owners | 61,728 | 13.1% | S100YCDE |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 16 |
| SG&A | 58 |
| Operating income | 26 |
| (Ref.) Net income | 13 |

### Margin funnel

Gross margin 84.5% → Net margin 13.1%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 422,818 | 472,770 | 49,952 | +11.8% |
| Gross profit | 353,399 | 399,269 | 45,870 | +13.0% |
| Net income attributable to owners | 66,397 | 61,728 | -4,669 | -7.0% |
| Operating cash flow | -249,174 | -135,671 | 113,503 | — |
| Free cash flow | -269,983 | -153,800 | 116,183 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2018 | 293,250 | — | — | 38,446 | -40,023 | — | S100OCL9 |
| FY ending Mar 2019 | 304,855 | — | — | 30,517 | -192,438 | — | S100R0QD |
| FY ending Mar 2020 | 311,410 | — | — | 22,863 | -169,864 | -190,708 | S100TNTL |
| FY ending Mar 2021 | 282,625 | — | — | 36,132 | -4,695 | -21,838 | S100WCWC |
| FY ending Mar 2022 | 299,017 | — | — | 35,375 | -70,441 | -86,876 | S100YCDE |
| FY ending Mar 2023 | 322,638 | — | — | 43,599 | -130,092 | -145,728 | S100YCDE |
| FY ending Mar 2024 | 361,604 | — | — | 72,987 | -213,404 | -232,677 | S100YCDE |
| FY ending Mar 2025 | 422,818 | — | — | 66,397 | -249,174 | -269,983 | S100YCDE |
| FY ending Mar 2026 | 472,770 | — | — | 61,728 | -135,671 | -153,800 | S100YCDE |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥74.5M |
| Net income per employee (consolidated) | ¥9.7M |

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) | 5,562 | 5,840 | 6,138 | 6,450 | 6,346 |
| Average salary (parent company) | ¥5.2M | ¥5.5M | ¥5.9M | ¥6M | ¥6.7M |
| Average age (parent company) | 42.5 years | 43.2 years | 43.9 years | 44.1 years | 44.4 years |
| Average tenure (parent company) | 13.3 years | 14.0 years | 14.6 years | 14.9 years | 15.4 years |

Year over year: Employees (consolidated) -1.6% · Revenue (consolidated) +11.8%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Payment | 274,965 | 50.3% | 30,625 | 11.1% |
| Lease | 14,780 | 2.7% | 4,670 | 31.6% |
| Finance | 84,476 | 15.5% | 47,306 | 56.0% |
| Real Estate related | 70,987 | 13.0% | 19,240 | 27.1% |
| Global | 62,438 | 11.4% | -1,428 | -2.3% |
| Entertainment | 38,623 | 7.1% | 2,590 | 6.7% |

### 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 | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Payment | 50.3% | 29.3% | -21.0 | 11.1% |
| Lease | 2.7% | 4.5% | 1.8 | 31.6% |
| Finance | 15.5% | 45.3% | 29.8 | 56.0% |
| Real Estate related | 13.0% | 18.4% | 5.4 | 27.1% |
| Global | 11.4% | — | — | -2.3% |
| Entertainment | 7.1% | 2.5% | -4.6 | 6.7% |

Loss-making segment (excluded from profit shares): Global -1,428 JPY mn

Segment → industry: Finance → Credit Cards & Consumer Credit / Payment → Credit Cards & Consumer Credit / Global → Consumer Finance / Lease → Leasing / Entertainment → Events & Ticketing / Entertainment → Amusement Centers & Karaoke / Real Estate related → Real Estate Development & Leasing

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -135,671 | -28.7% | S100YCDE |
| Capital expenditure | 18,129 | 3.8% | S100YCDE |
| Free cash flow | -153,800 | -32.5% | 算出 |
| Investing cash flow | -26,925 | -5.7% | S100YCDE |
| Financing cash flow | 139,061 | 29.4% | S100YCDE |
| Dividends paid | 18,062 | 3.8% | S100YCDE |
| Share buyback | 21,511 | 4.5% | S100YCDE |
| Change in cash | -24,520 | -5.2% | S100YCDE |
| Cash and equivalents | 112,317 | 23.8% | S100YCDE |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 108,970 | 159,671 | 108,745 | 139,399 | 112,317 | S100TNTL, S100WCWC, S100YCDE |
| Total assets | 3,610,778 | 3,896,105 | 4,335,852 | 4,671,143 | 4,952,181 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Net assets | 563,738 | 600,041 | 717,611 | 719,028 | 775,541 | S100TNTL, S100WCWC, S100YCDE |
| Share capital | 75,929 | 75,929 | 75,929 | 75,929 | 75,929 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Property, plant and equipment | 30,342 | 28,753 | 30,296 | 29,253 | 25,055 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Goodwill | 1,152 | 1,651 | 1,659 | 1,195 | 704 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Total liabilities | 3,047,040 | 3,296,063 | 3,618,240 | 3,952,115 | 4,176,640 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Equity attributable to owners of parent | 562,387 | 598,301 | 705,053 | 705,678 | 760,634 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Retained earnings | 442,550 | 481,163 | 542,602 | 602,903 | 652,977 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |
| Treasury stock | -62,737 | -62,668 | -47,767 | -96,356 | -117,285 | S100R0QD, S100TNTL, S100WCWC, S100YCDE |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 2% | S100YCDE |
| Property, plant and equipment | 1% | S100YCDE |
| Intangibles and goodwill | 0% | — |
| Other assets | 97% | S100YCDE |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 84% | S100YCDE |
| Equity | 16% | S100YCDE |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,610,778 | 3,896,105 | 4,335,852 | 4,671,143 | 4,952,181 |
| Equity | 563,738 | 600,041 | 717,611 | 719,028 | 775,541 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 108,970 | 159,671 | 108,745 | 139,399 | 112,317 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 5.3% | S100YCDE |
| Fixed assets ÷ total assets | 0.5% | S100YCDE |
| Goodwill ÷ parent equity | 0.1% | S100YCDE |

Goodwill over 4 years: 1,152 → 704 JPY; total investing cash flow: -223,378 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 2.3% |
| Cash ÷ revenue | 23.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -197,399 JPY mn (of net income -319.8%) |
| Shareholder returns / net income | 64.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 29.3% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.8% |
| Investing CF relative to operating CF | — |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 11.8% | 0.08× | 1.0% | 6.42× | 6.3% | S100R0QD, S100YCDE |
| 2023 | 13.5% | 0.09× | 1.2% | 6.47× | 7.5% | S100TNTL, S100YCDE |
| 2024 | 20.2% | 0.09× | 1.8% | 6.32× | 11.2% | S100WCWC, S100YCDE |
| 2025 | 15.7% | 0.09× | 1.5% | 6.38× | 9.4% | S100YCDE |
| 2026 | 13.1% | 0.10× | 1.3% | 6.56× | 8.4% | S100YCDE |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 24.6% | 2026-03-31 |
| ㈱日本カストディ銀行（信託口） | Major shareholder | 11.4% | 2026-03-31 |
| ㈱大和証券グループ本社 | Major shareholder | 5.5% | 2026-03-31 |
| スルガ銀行㈱ | Major shareholder | 5.2% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505301 | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 | Major shareholder | 2.3% | 2026-03-31 |
| HSBC-FUND SERVICES HSBC - 006 MF EFM | Major shareholder | 2.2% | 2026-03-31 |
| ㈱みずほ銀行 | Major shareholder | 2.1% | 2026-03-31 |
| JPモルガン証券株式会社 | Major shareholder | 1.5% | 2026-03-31 |
| HSBC HONG KONG-TREASURY SERVICES A/C ASIAN EQUITIES DERIVATIVES | Major shareholder | 1.2% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for the FY ending Mar 2026 rose +11.8%, from ¥422.8B to ¥472.8B.
- Gross profit grew +13.0% to ¥399.3B, but net income slipped -7.0%, from ¥66.4B to ¥61.7B.
- Operating cash flow was -¥135.7B, a smaller outflow than the prior year's -¥249.2B. As a lender, the company pays out cash before it collects when its card and loan balances grow.

### Drivers

- Card shopping volume and finance loan balances held up well, and overseas lending balances grew, lifting revenue
- Losses tied to the amusement business pulled net income down
- The global business slipped to a loss after extra credit costs in Indonesian lending and write-downs on startup investments

### Risks

- A sizable share of funding is short-term borrowing and commercial paper, so a credit downgrade or financial crisis could tighten liquidity
- Unfavorable moves in interest rates or currencies could raise borrowing costs or cause losses on stocks and real estate it holds
- An economic slowdown at home or abroad, or prolonged inflation, could push up loan defaults

Cited: Annual Securities Report (76th term) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report (76th term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第76期(2025/04/01－2026/03/31) | S100YCDE | 2026-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCDE,, |
| 訂正有価証券報告書－第75期(2024/04/01－2025/03/31) | S100WCWC | 2025-07-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WCWC,, |
| 有価証券報告書－第74期(2023/04/01－2024/03/31) | S100TNTL | 2024-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNTL,, |
| 有価証券報告書－第73期(2022/04/01－2023/03/31) | S100R0QD | 2023-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0QD,, |
| 有価証券報告書－第72期(令和3年4月1日－令和4年3月31日) | S100OCL9 | 2022-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OCL9,, |
| 有価証券報告書－第71期(令和2年4月1日－令和3年3月31日) | S100LN7Q | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN7Q,, |

## 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).