# Kyoto 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3期(2025/04/01－2026/03/31) (S100YEHZ)
> Page: https://vizora.meequs.com/en/company/kyoto-financial-group
> Retrieved: 2026-09-30T20:32:39.404Z

## Company

Kyoto Financial Group, founded in 2023, is a company in Regional Banks listed on TSE Prime. It has 3,676 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Kyoto Financial Group, Inc. |
| Ticker | 5844 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5844.T) |
| Listing | TSE Prime |
| Head office | 京都市下京区烏丸通松原上る薬師前町700番地 |
| Representative (per filing) | 代表取締役社長 土井伸宏 |
| Founded | May 2023 |
| Employees (consolidated) | 3,676 |
| Average salary (parent only) | ¥8.4M |
| Fiscal year end | March |
| Website | www.kyoto-fg.co.jp (https://www.kyoto-fg.co.jp/) |
| Corporate number | 3130001075397 |
| EDINET | E38714 |
| Industries (Vizora) | Regional Banks |

> Profile source: annual securities report (S100YEHZ, filed 2026-06-19). As of filing

## Key points (generated from figures)

- Kyoto Financial Group brought in ¥366.7B in ordinary revenue.
- Out of every ¥100 of ordinary revenue, about ¥37 is left as ordinary profit.
- Ordinary revenue changed +119.2% from the prior year, ordinary profit +169.4%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥366.7B |  |
| Ordinary income | ¥137.2B | Margin 37.4% |
| Net income | ¥96.7B | Margin 26.4% |
| Employees (consolidated) | 3,676 |  |
| EPS | ¥267.59 |  |
| Diluted EPS | ¥267.55 |  |
| Book value per share | ¥1855.38 |  |
| Equity ratio | 9.6% |  |
| Shares outstanding | 301,362,000 |  |
| Treasury shares | 17,303,100 |  |
| Shareholders | 22,067 |  |
| Average salary (parent only) | ¥8.4M | Filing company only |

## What changed in 2 years

| Metric | FY ending Mar 2024 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥137691000000 | ¥366704000000 | +166.3% |
| Employees | 3,473 people | 3,676 people | +5.8% |
| Cash and equivalents | ¥929545000000 | ¥905083000000 | -2.6% |

### Change in segment revenue mix

Span: FY ending Mar 2024 → 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 | 366,704 | 100.0% | S100YEHZ |
| Ordinary expenses | 229,521 | 62.6% | S100YEHZ |
| Ordinary income | 137,182 | 37.4% | S100YEHZ |
| Extraordinary income | 121 | 0.0% | S100YEHZ |
| Extraordinary loss | 592 | 0.2% | S100YEHZ |
| Pretax income | 136,711 | 37.3% | S100YEHZ |
| Income tax | 39,991 | 10.9% | S100YEHZ |
| Net income | 96,719 | 26.4% | S100YEHZ |
| Net income attributable to owners | 96,723 | 26.4% | S100YEHZ |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 63 |
| Ordinary income | 37 |
| (Ref.) Net income | 26 |

### Margin funnel

Ordinary margin 37.4% → Net margin 26.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +119.2%; Core profit growth: +169.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.42×
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 | 167,258 | 366,704 | 199,446 | +119.2% |
| Net income attributable to owners | 36,552 | 96,723 | 60,171 | +164.6% |
| Operating cash flow | 501,615 | -1,096,370 | -1,597,985 | -318.6% |
| Free cash flow | 495,337 | -1,103,969 | -1,599,306 | -322.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2024 | 137,691 | — | — | 31,572 | -36,759 | -42,269 | S100W4AU |
| FY ending Mar 2025 | 167,258 | — | — | 36,552 | 501,615 | 495,337 | S100YEHZ |
| FY ending Mar 2026 | 366,704 | — | — | 96,723 | -1,096,370 | -1,103,969 | S100YEHZ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥99.8M |
| Net income per employee (consolidated) | ¥26.3M |

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

| History | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: |
| Employees (consolidated) | 3,473 | 3,580 | 3,676 |
| Average salary (parent company) | ¥7.9M | ¥8.5M | ¥8.4M |
| Average age (parent company) | 45.2 years | 47.0 years | 42.9 years |
| Average tenure (parent company) | 22.5 years | 24.1 years | 16.7 years |

Year over year: Employees (consolidated) +2.7% · Revenue (consolidated) +119.2%

## 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 | -1,096,370 | -299.0% | S100YEHZ |
| Capital expenditure | 7,599 | 2.1% | S100YEHZ |
| Free cash flow | -1,103,969 | -301.1% | 算出 |
| Investing cash flow | 714,261 | 194.8% | S100YEHZ |
| Financing cash flow | -35,069 | -9.6% | S100YEHZ |
| Dividends paid | 20,093 | 5.5% | S100YEHZ |
| Share buyback | 14,975 | 4.1% | S100YEHZ |
| Change in cash | -417,179 | -113.8% | S100YEHZ |
| Cash and equivalents | 905,083 | 246.8% | S100YEHZ |

## 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 | 12.4% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 3.8% | 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 | 3.5% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 3.5% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.1% | 2026-03-31 |
| NORTHERN TRUST CO.(AVFC)RE SILCHESTER INTERNATIONALINVESTORS INTERNATIONAL VALUEEQUITY TRUST(常任代理人 香港上海銀行東京支店セキュリティーズ・サービシズ・オペレーションズ) | Major shareholder | 2.6% | 2026-03-31 |
| 京セラ株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.8% | 2026-03-31 |
| 京都フィナンシャルグループ従業員持株会 | Major shareholder | 1.8% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC)(常任代理人 株式会社三菱UFJ銀行) | Major shareholder | 1.6% | 2026-03-31 |

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

- Revenue for FY ending Mar 2026 was ¥366.7B, up +119.2% from ¥167.3B a year earlier.
- Net income rose +164.6%, from ¥36.6B to ¥96.7B.
- Much of the jump came from gains on selling shares it held in client companies, though income from lending and fees also grew.
- Operating cash flow swung from ¥501.6B to -¥1.1T, mainly because the bank lent out more money.

### Drivers

- Large gains from selling cross-held shares, partly offset by losses booked on yen bonds
- Higher interest income, led by interest on loans
- Record fee and commission income

### Risks

- Higher interest rates or falling stock prices could cut the value of its bonds and shares
- A weaker economy or struggling borrowers could push loan losses above expectations
- Its business is concentrated in Kansai, centered on Kyoto, so it depends on that region's economy

Cited: Annual Securities Report, 3rd fiscal year (Apr 2025–Mar 2026) (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, 3rd fiscal year (Apr 2025–Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第3期(2025/04/01－2026/03/31) | S100YEHZ | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEHZ,, |
| 有価証券報告書－第2期(2024/04/01－2025/03/31) | S100W4AU | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4AU,, |
| 有価証券報告書－第1期(2023/04/01－2024/03/31) | S100TWKN | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWKN,, |

## 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).