# The Musashino 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103期(2025/04/01－2026/03/31) (S100YDFO)
> Page: https://vizora.meequs.com/en/company/musashino-bank
> Retrieved: 2026-09-30T20:39:00.068Z

## Company

The Musashino Bank, founded in 1986, is a company in Regional Banks listed on TSE Prime. It has 2,043 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Musashino Bank, Ltd. |
| Ticker | 8336 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8336.T) |
| Listing | TSE Prime |
| Head office | さいたま市大宮区桜木町一丁目10番地8 |
| Representative (per filing) | 取締役頭取 長堀 和正 |
| Founded | Aug 1986 |
| Employees (consolidated) | 2,043 |
| Average salary (parent only) | ¥7.1M |
| Fiscal year end | March |
| Website | www.musashinobank.co.jp (https://www.musashinobank.co.jp/) |
| Corporate number | 6030001002490 |
| EDINET | E03555 |
| Industries (Vizora) | Regional Banks, Leasing |

> Profile source: annual securities report (S100YDFO, filed 2026-06-18). As of filing

## Key points (generated from figures)

- About 86% of The Musashino 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 +25.7% from the prior year, ordinary profit +26.0%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥105.7B |  |
| Ordinary income | ¥22.8B | Margin 21.6% |
| Net income | ¥15.4B | Margin 14.6% |
| Employees (consolidated) | 2,043 |  |
| EPS | ¥149.78 |  |
| Diluted EPS | ¥149.77 |  |
| Book value per share | ¥2626.78 |  |
| Equity ratio | 5.0% |  |
| Shares outstanding | 33,405,000 |  |
| Treasury shares | 345,700 |  |
| Shareholders | 9,597 |  |
| Average salary (parent only) | ¥7.1M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥71418000000 | ¥105684000000 | +48.0% |
| Employees | 2,159 people | 2,043 people | -5.4% |
| Cash and equivalents | ¥739274000000 | ¥216598000000 | -70.7% |

### 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 | 81.8% |
| リース業 → リース業 | 11.0% |
| リース業 → 事業再編・廃止 | 3.8% |
| 信用保証業 → 信用保証業 | 0.9% |
| 信用保証業 → 事業再編・廃止 | 0.3% |
| その他 → その他 | 1.9% |
| その他 → 事業再編・廃止 | 0.3% |
| 新設・再編 → 銀行業 | 4.4% |

Segment revenue source references: 8 (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 | +9.3% | ¥91255000000 | 23.7% | 2 |
| Leasing | 5 years | +2.0% | ¥11687000000 | 3.6% | 2 |
| Other | 5 years | +5.0% | ¥2006000000 | 23.9% | 2 |
| Credit guarantee | 5 years | +1.8% | ¥912000000 | 128.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 105,684 | 100.0% | S100YDFO |
| Ordinary expenses | 82,878 | 78.4% | S100YDFO |
| Ordinary income | 22,806 | 21.6% | S100YDFO |
| Extraordinary income | 0 | 0.0% | S100YDFO |
| Extraordinary loss | 7 | 0.0% | S100YDFO |
| Pretax income | 22,798 | 21.6% | S100YDFO |
| Income tax | 7,376 | 7.0% | S100YDFO |
| Net income | 15,422 | 14.6% | S100YDFO |
| Net income attributable to owners | 15,412 | 14.6% | S100YDFO |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 78 |
| Ordinary income | 22 |
| (Ref.) Net income | 15 |

### Margin funnel

Ordinary margin 21.6% → Net margin 14.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +25.7%; Core profit growth: +26.0%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 1.01×
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 | 84,084 | 105,684 | 21,600 | +25.7% |
| Net income attributable to owners | 13,146 | 15,412 | 2,266 | +17.2% |
| Operating cash flow | -28,303 | -13,901 | 14,402 | — |
| Free cash flow | -31,463 | -16,734 | 14,729 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 70,903 | — | — | 9,762 | 107,440 | — | S100LPMK |
| FY ending Mar 2018 | 72,263 | — | — | 10,917 | -1,310 | — | S100OI88 |
| FY ending Mar 2019 | 77,858 | — | — | 5,345 | 31,328 | — | S100RCL7 |
| FY ending Mar 2020 | 67,852 | — | — | 8,066 | 30,710 | 22,043 | S100LPMK |
| FY ending Mar 2021 | 71,418 | — | — | 8,022 | 425,702 | 417,074 | S100OI88 |
| FY ending Mar 2022 | 71,186 | — | — | 9,001 | 124,330 | 110,828 | S100RCL7 |
| FY ending Mar 2023 | 81,901 | — | — | 10,865 | -225,615 | -227,940 | S100TSOF |
| FY ending Mar 2024 | 81,068 | — | — | 11,264 | -29,676 | -33,086 | S100VZHU |
| FY ending Mar 2025 | 84,084 | — | — | 13,146 | -28,303 | -31,463 | S100YDFO |
| FY ending Mar 2026 | 105,684 | — | — | 15,412 | -13,901 | -16,734 | S100YDFO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥51.7M |
| Net income per employee (consolidated) | ¥7.5M |

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) | 2,119 | 2,048 | 2,002 | 1,990 | 2,043 |
| Average salary (parent company) | ¥6.3M | ¥6.6M | ¥6.6M | ¥6.8M | ¥7.1M |
| Average age (parent company) | 40.6 years | 40.6 years | 40.5 years | 40.5 years | 40.3 years |
| Average tenure (parent company) | 16.7 years | 16.8 years | 16.5 years | 16.4 years | 16.0 years |

Year over year: Employees (consolidated) +2.7% · Revenue (consolidated) +25.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 91,255 | 86.2% | 21,642 | 23.7% |
| Leasing | 11,687 | 11.0% | 425 | 3.6% |
| Credit guarantee | 912 | 0.9% | 1,172 | 128.5% |
| Other | 2,006 | 1.9% | 480 | 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 | 86.2% |
| Leasing | 11.0% |
| Credit guarantee | 0.9% |
| Other | 1.9% |

Segment → industry: Credit guarantee → Regional Banks / 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 | -13,901 | -13.2% | S100YDFO |
| Capital expenditure | 2,833 | 2.7% | S100YDFO |
| Free cash flow | -16,734 | -15.8% | 算出 |
| Investing cash flow | 75,316 | 71.3% | S100YDFO |
| Financing cash flow | -5,433 | -5.1% | S100YDFO |
| Dividends paid | 4,805 | 4.5% | S100YDFO |
| Share buyback | 628 | 0.6% | S100YDFO |
| Change in cash | 55,981 | 53.0% | S100YDFO |
| Cash and equivalents | 216,598 | 204.9% | S100YDFO |

## 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 | 11.6% | 2026-03-31 |
| 株式会社日本カストディ銀行 （信託口） | Major shareholder | 6.3% | 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 | 3.0% | 2026-03-31 |
| 株式会社千葉銀行 | Major shareholder | 2.8% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.2% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 2.1% | 2026-03-31 |
| 武蔵野銀行従業員持株会 | Major shareholder | 2.0% | 2026-03-31 |
| 前田硝子株式会社 | Major shareholder | 1.8% | 2026-03-31 |
| JPモルガン証券株式会社 | Major shareholder | 1.8% | 2026-03-31 |
| 高橋 慧 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第103期(2025/04/01－2026/03/31) | S100YDFO | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDFO,, |
| 有価証券報告書－第102期(2024/04/01－2025/03/31) | S100VZHU | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZHU,, |
| 有価証券報告書－第101期(2023/04/01－2024/03/31) | S100TSOF | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSOF,, |
| 訂正有価証券報告書－第100期(2022/04/01－2023/03/31) | S100RCL7 | 2023-07-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RCL7,, |
| 有価証券報告書－第99期(令和3年4月1日－令和4年3月31日) | S100OI88 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OI88,, |
| 有価証券報告書－第98期(令和2年4月1日－令和3年3月31日) | S100LPMK | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPMK,, |

## 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).