# The Keiyo 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120期(2025/04/01－2026/03/31) (S100YBD2)
> Page: https://vizora.meequs.com/en/company/keiyo-bank
> Retrieved: 2026-09-30T20:00:09.700Z

## Company

The Keiyo Bank, founded in 1943, is a company in Regional Banks listed on TSE Prime. It has 1,837 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Keiyo Bank, Ltd. |
| Ticker | 8544 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8544.T) |
| Listing | TSE Prime |
| Head office | 千葉市中央区富士見一丁目11番11号(上記は登記上の本店所在地であり、主要な本部業務は下記にて行っております。)千葉市中央区千葉港5番45号 |
| Representative (per filing) | 取締役頭取 藤田 剛 |
| Founded | Mar 1943 |
| Employees (consolidated) | 1,837 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | March |
| Website | www.keiyobank.co.jp (https://www.keiyobank.co.jp/) |
| Corporate number | 5040001000008 |
| EDINET | E03641 |
| Industries (Vizora) | Regional Banks |

> Profile source: annual securities report (S100YBD2, filed 2026-06-17). As of filing

## Key points (generated from figures)

- The Keiyo Bank brought in ¥108.7B in ordinary revenue.
- Out of every ¥100 of ordinary revenue, about ¥21 is left as ordinary profit.
- Ordinary revenue changed +35.2% from the prior year, ordinary profit +23.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥108.7B |  |
| Ordinary income | ¥22.5B | Margin 20.7% |
| Net income | ¥15.9B | Margin 14.6% |
| Employees (consolidated) | 1,837 |  |
| EPS | ¥131.05 |  |
| Book value per share | ¥2621.85 |  |
| Equity ratio | 4.8% |  |
| Shares outstanding | 126,427,000 |  |
| Treasury shares | 5,022,100 |  |
| Shareholders | 15,164 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥62957000000 | ¥108656000000 | +72.6% |
| Employees | 1,977 people | 1,837 people | -7.1% |
| Cash and equivalents | ¥512515000000 | ¥868875000000 | +69.5% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 108,656 | 100.0% | S100YBD2 |
| Ordinary expenses | 86,204 | 79.3% | S100YBD2 |
| Ordinary income | 22,452 | 20.7% | S100YBD2 |
| Extraordinary income | 0 | 0.0% | S100YBD2 |
| Extraordinary loss | 135 | 0.1% | S100YBD2 |
| Pretax income | 22,317 | 20.5% | S100YBD2 |
| Income tax | 6,246 | 5.7% | S100YBD2 |
| Net income | 16,070 | 14.8% | S100YBD2 |
| Net income attributable to owners | 15,912 | 14.6% | S100YBD2 |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 79 |
| Ordinary income | 21 |
| (Ref.) Net income | 15 |

### Margin funnel

Ordinary margin 20.7% → Net margin 14.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +35.2%; Core profit growth: +23.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.66×
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 | 80,370 | 108,656 | 28,286 | +35.2% |
| Net income attributable to owners | 12,756 | 15,912 | 3,156 | +24.7% |
| Operating cash flow | -83,448 | -112,068 | -28,620 | — |
| Free cash flow | -89,542 | -116,331 | -26,789 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 66,570 | — | — | 11,634 | -65,459 | — | S100LPX5 |
| FY ending Mar 2018 | 65,139 | — | — | 12,116 | -17,881 | — | S100OIAX |
| FY ending Mar 2019 | 67,465 | — | — | 10,547 | -54,600 | — | S100R6OZ |
| FY ending Mar 2020 | 68,081 | — | — | 5,564 | 23,671 | 21,015 | S100LPX5 |
| FY ending Mar 2021 | 62,957 | — | — | 7,383 | 366,396 | 361,809 | S100OIAX |
| FY ending Mar 2022 | 65,745 | — | — | 11,185 | 1,331,087 | 1,325,107 | S100R6OZ |
| FY ending Mar 2023 | 65,614 | — | — | 10,390 | -510,165 | -517,964 | S100TS8L |
| FY ending Mar 2024 | 70,215 | — | — | 10,878 | -181,724 | -186,302 | S100W2G3 |
| FY ending Mar 2025 | 80,370 | — | — | 12,756 | -83,448 | -89,542 | S100YBD2 |
| FY ending Mar 2026 | 108,656 | — | — | 15,912 | -112,068 | -116,331 | S100YBD2 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥59.1M |
| Net income per employee (consolidated) | ¥8.7M |

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) | 1,941 | 1,881 | 1,832 | 1,824 | 1,837 |
| Average salary (parent company) | ¥6.6M | ¥6.8M | ¥7M | ¥7.2M | ¥7.6M |
| Average age (parent company) | 38.7 years | 39.3 years | 39.5 years | 39.5 years | 39.2 years |
| Average tenure (parent company) | 16.5 years | 16.9 years | 17.0 years | 16.9 years | 16.5 years |

Year over year: Employees (consolidated) +0.7% · Revenue (consolidated) +35.2%

## 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 | -112,068 | -103.1% | S100YBD2 |
| Capital expenditure | 4,263 | 3.9% | S100YBD2 |
| Free cash flow | -116,331 | -107.1% | 算出 |
| Investing cash flow | 69,740 | 64.2% | S100YBD2 |
| Financing cash flow | -5,982 | -5.5% | S100YBD2 |
| Dividends paid | 4,283 | 3.9% | S100YBD2 |
| Share buyback | 1,502 | 1.4% | S100YBD2 |
| Change in cash | -48,310 | -44.5% | S100YBD2 |
| Cash and equivalents | 868,875 | 799.7% | S100YBD2 |

## 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 | 9.0% | 2026-03-31 |
| 株式会社千葉銀行 | Major shareholder | 4.2% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.5% | 2026-03-31 |
| 京葉銀行職員持株会 | Major shareholder | 3.1% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 2.9% | 2026-03-31 |
| MORGAN STANLEY & CO. LLC(常任代理人 モルガン・スタンレーMUFG証券株式会社) | Major shareholder | 2.6% | 2026-03-31 |
| 千葉県民共済生活協同組合 | Major shareholder | 2.5% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.4% | 2026-03-31 |
| 野村 絢(常任代理人 三田証券株式会社) | Major shareholder | 2.2% | 2026-03-31 |
| 住友不動産株式会社 | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第120期(2025/04/01－2026/03/31) | S100YBD2 | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YBD2,, |
| 有価証券報告書－第119期(2024/04/01－2025/03/31) | S100W2G3 | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2G3,, |
| 有価証券報告書－第118期(2023/04/01－2024/03/31) | S100TS8L | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TS8L,, |
| 有価証券報告書－第117期(2022/04/01－2023/03/31) | S100R6OZ | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6OZ,, |
| 有価証券報告書－第116期(令和3年4月1日－令和4年3月31日) | S100OIAX | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIAX,, |
| 有価証券報告書－第115期(令和2年4月1日－令和3年3月31日) | S100LPX5 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPX5,, |

## 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).