# The  Gunma  Bank,  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141期(2025/04/01－2026/03/31) (S100Y8O1)
> Page: https://vizora.meequs.com/en/company/gunma-bank
> Retrieved: 2026-09-30T22:34:50.364Z

## Company

The Gunma Bank, founded in 1932, is a company in Regional Banks listed on TSE Prime. It has 2,899 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Gunma Bank, Ltd. |
| Ticker | 8334 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8334.T) |
| Listing | TSE Prime |
| Head office | 群馬県前橋市元総社町194番地 |
| Representative (per filing) | 代表取締役頭取 深井彰彦 |
| Founded | Sep 1932 |
| Employees (consolidated) | 2,899 |
| Average salary (parent only) | ¥8.2M |
| Fiscal year end | March |
| Website | www.gunmabank.co.jp (https://www.gunmabank.co.jp/) |
| Corporate number | 3070001003513 |
| EDINET | E03554 |
| Industries (Vizora) | Regional Banks, Leasing |

> Profile source: annual securities report (S100Y8O1, filed 2026-06-12). As of filing

## Key points (generated from figures)

- About 84% of The Gunma Bank's ordinary revenue comes from Banking, with Leasing and Other making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥32 is left as ordinary profit.
- Ordinary revenue changed +20.2% from the prior year, ordinary profit +36.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥265B |  |
| Ordinary income | ¥84.9B | Margin 32.0% |
| Net income | ¥58.9B | Margin 22.2% |
| Employees (consolidated) | 2,899 |  |
| EPS | ¥143.99 |  |
| Book value per share | ¥1416.08 |  |
| Equity ratio | 5.7% |  |
| Shares outstanding | 395,888,000 |  |
| Treasury shares | 17,387,900 |  |
| Shareholders | 30,713 |  |
| Average salary (parent only) | ¥8.2M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥143316000000 | ¥264965000000 | +84.9% |
| Employees | 3,175 people | 2,899 people | -8.7% |
| Cash and equivalents | ¥2324903000000 | ¥1335234000000 | -42.6% |

### 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 | 74.6% |
| リース業 → リース業 | 13.3% |
| リース業 → 事業再編・廃止 | 8.0% |
| その他 → その他 | 2.7% |
| その他 → 事業再編・廃止 | 1.4% |
| 新設・再編 → 銀行業 | 9.4% |

Segment revenue source references: 6 (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 | +15.8% | ¥222643000000 | 35.4% | 2 |
| Leasing | 5 years | +2.9% | ¥35277000000 | 4.7% | 2 |
| Other | 5 years | +3.8% | ¥7045000000 | 63.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 264,965 | 100.0% | S100Y8O1 |
| Ordinary expenses | 180,079 | 68.0% | S100Y8O1 |
| Ordinary income | 84,886 | 32.0% | S100Y8O1 |
| Extraordinary income | 34 | 0.0% | S100Y8O1 |
| Extraordinary loss | 1,064 | 0.4% | S100Y8O1 |
| Pretax income | 83,856 | 31.6% | S100Y8O1 |
| Income tax | 24,993 | 9.4% | S100Y8O1 |
| Net income | 58,863 | 22.2% | S100Y8O1 |
| Net income attributable to owners | 58,863 | 22.2% | S100Y8O1 |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 68 |
| Ordinary income | 32 |
| (Ref.) Net income | 22 |

### Margin funnel

Ordinary margin 32.0% → Net margin 22.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +20.2%; Core profit growth: +36.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.82×
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 | 220,435 | 264,965 | 44,530 | +20.2% |
| Net income attributable to owners | 43,900 | 58,863 | 14,963 | +34.1% |
| Operating cash flow | -597,110 | -167,915 | 429,195 | — |
| Free cash flow | -603,168 | -176,336 | 426,832 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 144,130 | — | — | 26,304 | 177,143 | — | S100LM2S |
| FY ending Mar 2018 | 150,386 | — | — | 28,366 | -266,292 | — | S100OBJ8 |
| FY ending Mar 2019 | 148,730 | — | — | 23,321 | 126,908 | — | S100R51Z |
| FY ending Mar 2020 | 143,069 | — | — | 22,280 | 316,974 | 310,671 | S100LM2S |
| FY ending Mar 2021 | 143,316 | — | — | 13,501 | 1,987,175 | 1,978,722 | S100OBJ8 |
| FY ending Mar 2022 | 150,197 | — | — | 26,436 | 459,588 | 453,611 | S100R51Z |
| FY ending Mar 2023 | 176,589 | — | — | 27,933 | -656,166 | -661,972 | S100U0IM |
| FY ending Mar 2024 | 200,356 | — | — | 31,125 | -394,524 | -401,812 | S100VXIB |
| FY ending Mar 2025 | 220,435 | — | — | 43,900 | -597,110 | -603,168 | S100Y8O1 |
| FY ending Mar 2026 | 264,965 | — | — | 58,863 | -167,915 | -176,336 | S100Y8O1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥91.4M |
| Net income per employee (consolidated) | ¥20.3M |

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) | 3,153 | 3,061 | 2,983 | 2,927 | 2,899 |
| Average salary (parent company) | ¥6.9M | ¥7.1M | ¥7.2M | ¥7.8M | ¥8.2M |
| Average age (parent company) | 40.8 years | 41.2 years | 41.5 years | 41.3 years | 41.5 years |
| Average tenure (parent company) | 17.8 years | 18.2 years | 18.5 years | 18.1 years | 17.9 years |

Year over year: Employees (consolidated) -1.0% · Revenue (consolidated) +20.2%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 222,643 | 84.0% | 78,828 | 35.4% |
| Leasing | 35,277 | 13.3% | 1,671 | 4.7% |
| Other | 7,045 | 2.7% | 4,444 | 63.1% |

### 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 | 84.0% |
| Leasing | 13.3% |
| Other | 2.7% |

Segment → industry: 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 | -167,915 | -63.4% | S100Y8O1 |
| Capital expenditure | 8,421 | 3.2% | S100Y8O1 |
| Free cash flow | -176,336 | -66.6% | 算出 |
| Investing cash flow | 253,843 | 95.8% | S100Y8O1 |
| Financing cash flow | -6,747 | -2.5% | S100Y8O1 |
| Dividends paid | 20,858 | 7.9% | S100Y8O1 |
| Share buyback | 6,002 | 2.3% | S100Y8O1 |
| Change in cash | 79,180 | 29.9% | S100Y8O1 |
| Cash and equivalents | 1,335,234 | 503.9% | S100Y8O1 |

## 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 | 13.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 6.3% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.7% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.9% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 2.8% | 2026-03-31 |
| 群馬銀行従業員持株会 | Major shareholder | 2.4% | 2026-03-31 |
| 東洋製罐グループホールディングス株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.3% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第141期(2025/04/01－2026/03/31) | S100Y8O1 | 2026-06-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8O1,, |
| 有価証券報告書－第140期(2024/04/01－2025/03/31) | S100VXIB | 2025-06-13 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VXIB,, |
| 訂正有価証券報告書－第139期(2023/04/01－2024/03/31) | S100U0IM | 2024-07-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100U0IM,, |
| 有価証券報告書－第138期(2022/04/01－2023/03/31) | S100R51Z | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R51Z,, |
| 有価証券報告書－第137期(令和3年4月1日－令和4年3月31日) | S100OBJ8 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBJ8,, |
| 有価証券報告書－第136期(令和2年4月1日－令和3年3月31日) | S100LM2S | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LM2S,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 第四北越フィナンシャルグループ | Alliance | 株式交換による経営統合の最終合意（対等統合） | S100YAX4 |

## 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).