# The Miyazaki 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) (S100YGVF)
> Page: https://vizora.meequs.com/en/company/miyazaki-bank
> Retrieved: 2026-09-30T21:47:33.823Z

## Company

The Miyazaki Bank, founded in 1932, is a company in Regional Banks listed on TSE Prime. It has 1,392 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Miyazaki Bank,Ltd. |
| Ticker | 8393 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8393.T) |
| Listing | TSE Prime |
| Head office | 宮崎県宮崎市橘通東四丁目3番5号 |
| Representative (per filing) | 取締役頭取 杉田浩二 |
| Founded | Jul 1932 |
| Employees (consolidated) | 1,392 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | March |
| Website | www.miyagin.co.jp (https://www.miyagin.co.jp/) |
| Corporate number | 4350001001677 |
| EDINET | E03597 |
| Industries (Vizora) | Regional Banks, Leasing |

> Profile source: annual securities report (S100YGVF, filed 2026-06-22). As of filing

## Key points (generated from figures)

- About 94% of The Miyazaki 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 ¥22 is left as ordinary profit.
- Ordinary revenue changed +12.4% from the prior year, ordinary profit +42.2%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥90.2B |  |
| Ordinary income | ¥19.8B | Margin 22.0% |
| Net income | ¥14.1B | Margin 15.6% |
| Employees (consolidated) | 1,392 |  |
| EPS | ¥161.2 |  |
| Diluted EPS | ¥160.52 |  |
| Book value per share | ¥2520.89 |  |
| Equity ratio | 5.5% |  |
| Shares outstanding | 17,133,000 |  |
| Treasury shares | 352,100 |  |
| Shareholders | 5,952 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥54664000000 | ¥90159000000 | +64.9% |
| Employees | 1,535 people | 1,392 people | -9.3% |
| Cash and equivalents | ¥716448000000 | ¥771899000000 | +7.7% |

### 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 | 86.7% |
| リース業 → リース業 | 5.6% |
| リース業 → 事業再編・廃止 | 6.7% |
| その他 → その他 | 0.7% |
| その他 → 事業再編・廃止 | 0.3% |
| 新設・再編 → 銀行業 | 7.0% |

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 | +12.3% | ¥84527000000 | 22.7% | 2 |
| Leasing | 5 years | -5.5% | ¥5043000000 | 9.5% | 2 |
| Other | 5 years | +1.5% | ¥589000000 | 23.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 90,159 | 100.0% | S100YGVF |
| Ordinary expenses | 70,327 | 78.0% | S100YGVF |
| Ordinary income | 19,831 | 22.0% | S100YGVF |
| Extraordinary income | 1 | 0.0% | S100YGVF |
| Extraordinary loss | 34 | 0.0% | S100YGVF |
| Pretax income | 19,798 | 22.0% | S100YGVF |
| Income tax | 5,704 | 6.3% | S100YGVF |
| Net income | 14,094 | 15.6% | S100YGVF |
| Net income attributable to owners | 14,094 | 15.6% | S100YGVF |

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

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

### Margin funnel

Ordinary margin 22.0% → Net margin 15.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +12.4%; Core profit growth: +42.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.39×
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 | 80,192 | 90,159 | 9,967 | +12.4% |
| Net income attributable to owners | 9,784 | 14,094 | 4,310 | +44.1% |
| Operating cash flow | -124,271 | -110,602 | 13,669 | — |
| Free cash flow | -126,793 | -111,997 | 14,796 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 52,255 | — | — | 9,255 | 135,360 | — | S100LP3I |
| FY ending Mar 2018 | 54,222 | — | — | 8,770 | -109,994 | — | S100ODJF |
| FY ending Mar 2019 | 53,444 | — | — | 9,729 | 91,319 | — | S100R3EJ |
| FY ending Mar 2020 | 56,838 | — | — | 7,125 | 161,683 | 157,274 | S100LP3I |
| FY ending Mar 2021 | 54,664 | — | — | 7,995 | 256,482 | 254,528 | S100ODJF |
| FY ending Mar 2022 | 63,824 | — | — | 7,473 | 487,689 | 485,929 | S100R3EJ |
| FY ending Mar 2023 | 66,127 | — | — | 8,127 | -196,260 | -198,672 | S100TSEZ |
| FY ending Mar 2024 | 68,889 | — | — | 7,087 | 4,879 | 1,982 | S100W59Q |
| FY ending Mar 2025 | 80,192 | — | — | 9,784 | -124,271 | -126,793 | S100YGVF |
| FY ending Mar 2026 | 90,159 | — | — | 14,094 | -110,602 | -111,997 | S100YGVF |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥64.8M |
| Net income per employee (consolidated) | ¥10.1M |

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

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,502 | 1,449 | 1,424 | 1,407 | 1,392 |
| Average salary (parent company) | ¥6.1M | ¥6.3M | ¥6.2M | ¥6.3M | ¥6.6M |
| Average age (parent company) | 38.4 years | 38.6 years | 39.0 years | 39.0 years | 38.5 years |
| Average tenure (parent company) | 15.2 years | 15.6 years | 16.1 years | 16.0 years | 15.3 years |

Year over year: Employees (consolidated) -1.1% · Revenue (consolidated) +12.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 84,527 | 93.8% | 19,216 | 22.7% |
| Leasing | 5,043 | 5.6% | 477 | 9.5% |
| Other | 589 | 0.7% | 141 | 23.9% |

### 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 | 93.8% |
| Leasing | 5.6% |
| Other | 0.7% |

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 | -110,602 | -122.7% | S100YGVF |
| Capital expenditure | 1,395 | 1.5% | S100YGVF |
| Free cash flow | -111,997 | -124.2% | 算出 |
| Investing cash flow | 57,627 | 63.9% | S100YGVF |
| Financing cash flow | -3,386 | -3.8% | S100YGVF |
| Dividends paid | 2,444 | 2.7% | S100YGVF |
| Share buyback | 942 | 1.0% | S100YGVF |
| Change in cash | -56,351 | -62.5% | S100YGVF |
| Cash and equivalents | 771,899 | 856.2% | S100YGVF |

## 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 | 8.7% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 3.2% | 2026-03-31 |
| 株式会社福岡銀行 | Major shareholder | 2.7% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 2.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.4% | 2026-03-31 |
| 宮崎銀行従業員持株会 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社鹿児島銀行 | Major shareholder | 2.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.0% | 2026-03-31 |
| ＱＲファンド投資事業有限責任組合 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社肥後銀行 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第141期(2025/04/01－2026/03/31) | S100YGVF | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGVF,, |
| 有価証券報告書－第140期(2024/04/01－2025/03/31) | S100W59Q | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W59Q,, |
| 有価証券報告書－第139期(2023/04/01－2024/03/31) | S100TSEZ | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSEZ,, |
| 有価証券報告書－第138期(2022/04/01－2023/03/31) | S100R3EJ | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3EJ,, |
| 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) | S100ODJF | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODJF,, |
| 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) | S100LP3I | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LP3I,, |

## 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).