# Resona Holdings, 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25期(2025/04/01－2026/03/31) (S100YDP3)
> Page: https://vizora.meequs.com/en/company/resona-holdings
> Retrieved: 2026-09-30T19:15:09.486Z

## Company

Resona Holdings, founded in 2001, is a company in Major Banks listed on TSE Prime. It has 20,813 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Resona Holdings, Inc. |
| Ticker | 8308 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8308.T) |
| Listing | TSE Prime |
| Head office | 東京都江東区木場一丁目5番65号 |
| Representative (per filing) | 代表執行役社長 南昌宏 |
| Founded | Dec 2001 |
| Employees (consolidated) | 20,813 |
| Average salary (parent only) | ¥9.1M |
| Fiscal year end | March |
| Website | www.resona-gr.co.jp (https://www.resona-gr.co.jp/) |
| Corporate number | 5010601039654 |
| EDINET | E03610 |
| Industries (Vizora) | Major Banks |

> Profile source: annual securities report (S100YDP3, filed 2026-06-19). As of filing

## Key points (generated from figures)

- Resona Holdings brought in ¥1.36T in ordinary revenue.
- Out of every ¥100 of ordinary revenue, about ¥29 is left as ordinary profit.
- Ordinary revenue changed +21.5% from the prior year, ordinary profit +33.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥1.36T |  |
| Ordinary income | ¥390.9B | Margin 28.8% |
| Net income | ¥258.7B | Margin 19.1% |
| Employees (consolidated) | 20,813 |  |
| EPS | ¥43.54 |  |
| Diluted EPS | ¥43.54 |  |
| Book value per share | ¥525.88 |  |
| Equity ratio | 3.8% |  |
| Shares outstanding | 2,307,136,000 |  |
| Treasury shares | 45,095,800 |  |
| Shareholders | 206,816 |  |
| Average salary (parent only) | ¥9.1M | Filing company only |

## Notable figures

- FY2026, buybacks were 1.0× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥823600000000 | ¥1357218000000 | +64.8% |
| Employees | 20,308 people | 20,813 people | +2.5% |
| Cash and equivalents | ¥25124886000000 | ¥13466181000000 | -46.4% |

### 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 | 1,357,218 | 100.0% | S100YDP3 |
| Ordinary expenses | 966,316 | 71.2% | S100YDP3 |
| Ordinary income | 390,902 | 28.8% | S100YDP3 |
| Extraordinary income | 3,095 | 0.2% | S100YDP3 |
| Extraordinary loss | 10,049 | 0.7% | S100YDP3 |
| Pretax income | 383,947 | 28.3% | S100YDP3 |
| Income tax | 123,851 | 9.1% | S100YDP3 |
| Net income | 260,096 | 19.2% | S100YDP3 |
| Net income attributable to owners | 258,717 | 19.1% | S100YDP3 |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 71 |
| Ordinary income | 29 |
| (Ref.) Net income | 19 |

### Margin funnel

Ordinary margin 28.8% → Net margin 19.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +21.5%; Core profit growth: +33.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.58×
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 | 1,117,491 | 1,357,218 | 239,727 | +21.5% |
| Net income attributable to owners | 213,324 | 258,717 | 45,393 | +21.3% |
| Operating cash flow | -293,370 | -4,737,585 | -4,444,215 | — |
| Free cash flow | -320,556 | -4,766,687 | -4,446,131 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 757,955 | — | — | 161,485 | -757,454 | — | S100LOV9 |
| FY ending Mar 2018 | 742,927 | — | — | 236,251 | 923,028 | — | S100OEJM |
| FY ending Mar 2019 | 860,706 | — | — | 175,162 | 324,420 | — | S100R3ZD |
| FY ending Mar 2020 | 880,544 | — | — | 152,426 | 974,556 | 954,411 | S100LOV9 |
| FY ending Mar 2021 | 823,600 | — | — | 124,481 | 11,394,771 | 11,379,372 | S100OEJM |
| FY ending Mar 2022 | 844,700 | — | — | 109,974 | 3,890,942 | 3,868,479 | S100R3ZD |
| FY ending Mar 2023 | 867,974 | — | — | 160,400 | -5,207,582 | -5,228,083 | S100TO8A |
| FY ending Mar 2024 | 941,663 | — | — | 158,930 | -733,790 | -754,315 | S100W98R |
| FY ending Mar 2025 | 1,117,491 | — | — | 213,324 | -293,370 | -320,556 | S100YDP3 |
| FY ending Mar 2026 | 1,357,218 | — | — | 258,717 | -4,737,585 | -4,766,687 | S100YDP3 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥65.2M |
| Net income per employee (consolidated) | ¥12.4M |

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) | 19,744 | 19,283 | 19,721 | 20,174 | 20,813 |
| Average salary (parent company) | ¥8.6M | ¥8.8M | ¥8.9M | ¥8.9M | ¥9.1M |
| Average age (parent company) | 45.4 years | 45.2 years | 44.7 years | 44.9 years | 45.1 years |
| Average tenure (parent company) | 16.6 years | 16.6 years | 15.7 years | 15.0 years | 14.4 years |

Year over year: Employees (consolidated) +3.2% · Revenue (consolidated) +21.5%

## 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 | -4,737,585 | -349.1% | S100YDP3 |
| Capital expenditure | 29,102 | 2.1% | S100YDP3 |
| Free cash flow | -4,766,687 | -351.2% | 算出 |
| Investing cash flow | -983,887 | -72.5% | S100YDP3 |
| Financing cash flow | -127,858 | -9.4% | S100YDP3 |
| Dividends paid | 64,243 | 4.7% | S100YDP3 |
| Share buyback | 65,992 | 4.9% | S100YDP3 |
| Change in cash | -5,850,698 | -431.1% | S100YDP3 |
| Cash and equivalents | 13,466,181 | 992.2% | S100YDP3 |

## 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 | 15.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.4% | 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 | 4.6% | 2026-03-31 |
| THE CHASE MANHATTAN BANK，N．A． LONDONSECS LENDING OMNIBUS ACCOUNT（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.5% | 2026-03-31 |
| 第一生命保険株式会社 | Major shareholder | 3.3% | 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 | 2.9% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 2.4% | 2026-03-31 |
| JP MORGAN CHASE BANK 385642（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.2% | 2026-03-31 |
| CACEIS BANK FOR AMUNDI ACTIONS NON TREATY（常任代理人 香港上海銀行東京支店） | Major shareholder | 2.0% | 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 | 1.8% | 2026-03-31 |

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

- Revenue jumped from ¥1.12T to ¥1.36T, up +21.5%.
- Net income attributable to owners rose +21.3% to ¥258.7B.
- Operating cash flow swung to -¥4.74T, against -¥293.4B the year before.

### Drivers

- After the Bank of Japan's rate hikes, Resona earned more on each loan and had more loans outstanding on average.
- The corporate division's payment business grew.
- Swapping bonds as rates rose cut bond losses.

### Risks

- Borrowers hit by trade disruption or a downturn could push up credit costs.
- Falling stocks or rising rates would hurt the value of securities it holds.
- A deposit price war could make funding scarcer or costlier.

Cited: Annual securities report, 25th 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, 25th 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25期(2025/04/01－2026/03/31) | S100YDP3 | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDP3,, |
| 訂正有価証券報告書－第24期(2024/04/01－2025/03/31) | S100W98R | 2025-07-01 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W98R,, |
| 有価証券報告書－第23期(2023/04/01－2024/03/31) | S100TO8A | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TO8A,, |
| 有価証券報告書－第22期(2022/04/01－2023/03/31) | S100R3ZD | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3ZD,, |
| 有価証券報告書－第21期(令和3年4月1日－令和4年3月31日) | S100OEJM | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEJM,, |
| 有価証券報告書－第20期(令和2年4月1日－令和3年3月31日) | S100LOV9 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOV9,, |

## 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).