# San ju San 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8期(2025/04/01－2026/03/31) (S100YD2K)
> Page: https://vizora.meequs.com/en/company/san-ju-san-financial-group
> Retrieved: 2026-09-30T19:58:27.883Z

## Company

San ju San Financial Group, founded in 2017, is a company in Regional Banks listed on TSE Prime. It has 2,325 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | San ju San Financial Group,Inc. |
| Ticker | 7322 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7322.T) |
| Listing | TSE Prime |
| Head office | 三重県松阪市京町510番地 (上記は登記上の本店所在地であり実際の本社業務は下記にて行っております。) 三重県四日市市西新地7番8号 |
| Representative (per filing) | 代表取締役社長 道廣剛太郎 |
| Founded | Dec 2017 |
| Employees (consolidated) | 2,325 |
| Average salary (parent only) | ¥10M |
| Fiscal year end | March |
| Website | www.33fg.co.jp (https://www.33fg.co.jp/) |
| Corporate number | 2190001025439 |
| EDINET | E33693 |
| Industries (Vizora) | Regional Banks, Credit Cards & Consumer Credit, Leasing |

> Profile source: annual securities report (S100YD2K, filed 2026-06-18). As of filing

## Key points (generated from figures)

- About 80% of San ju San Financial Group's ordinary revenue comes from Bank, with Lease and Other making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥18 is left as ordinary profit.
- Ordinary revenue changed +25.2% from the prior year, ordinary profit +41.7%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥93.8B |  |
| Ordinary income | ¥16.6B | Margin 17.7% |
| Net income | ¥12.3B | Margin 13.2% |
| Employees (consolidated) | 2,325 |  |
| EPS | ¥32.19 |  |
| Book value per share | ¥1254.84 |  |
| Equity ratio | 5.0% |  |
| Shares outstanding | 26,167,000 |  |
| Treasury shares | 20,800 |  |
| Shareholders | 12,946 |  |
| Average salary (parent only) | ¥10M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥76245000000 | ¥93787000000 | +23.0% |
| Employees | 2,701 people | 2,325 people | -13.9% |
| Cash and equivalents | ¥529313000000 | ¥348108000000 | -34.2% |

### 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 | 78.7% |
| リース業 → リース業 | 18.2% |
| リース業 → 事業再編・廃止 | 0.5% |
| その他 → その他 | 1.8% |
| その他 → 事業再編・廃止 | 0.8% |
| 新設・再編 → 銀行業 | 1.3% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Bank | 5 years | +3.2% | ¥75382000000 | 21.9% | 2 |
| Lease | 5 years | +2.3% | ¥17181000000 | 0.9% | 2 |
| Other | 5 years | -4.3% | ¥1681000000 | 237.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 93,787 | 100.0% | S100YD2K |
| Ordinary expenses | 77,140 | 82.3% | S100YD2K |
| Ordinary income | 16,647 | 17.7% | S100YD2K |
| Extraordinary income | 239 | 0.3% | S100YD2K |
| Extraordinary loss | 418 | 0.4% | S100YD2K |
| Pretax income | 16,468 | 17.6% | S100YD2K |
| Income tax | 4,117 | 4.4% | S100YD2K |
| Net income | 12,350 | 13.2% | S100YD2K |
| Net income attributable to owners | 12,349 | 13.2% | S100YD2K |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 82 |
| Ordinary income | 18 |
| (Ref.) Net income | 13 |

### Margin funnel

Ordinary margin 17.7% → Net margin 13.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +25.2%; Core profit growth: +41.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.65×
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 | 74,913 | 93,787 | 18,874 | +25.2% |
| Net income attributable to owners | 8,653 | 12,349 | 3,696 | +42.7% |
| Operating cash flow | 9,742 | -49,721 | -59,463 | -610.4% |
| Free cash flow | 5,844 | -55,198 | -61,042 | -1044.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2019 | 69,640 | — | — | 52,277 | -21,517 | — | S100R2KW |
| FY ending Mar 2020 | 71,116 | — | — | 4,151 | -110,265 | -117,334 | S100LRP8 |
| FY ending Mar 2021 | 76,245 | — | — | 4,179 | 269,310 | 261,972 | S100OFGO |
| FY ending Mar 2022 | 70,479 | — | — | 4,905 | 374,900 | 369,626 | S100R2KW |
| FY ending Mar 2023 | 65,901 | — | — | 6,332 | -382,466 | -384,834 | S100TPCH |
| FY ending Mar 2024 | 67,848 | — | — | 6,904 | 67,093 | 63,104 | S100VZ84 |
| FY ending Mar 2025 | 74,913 | — | — | 8,653 | 9,742 | 5,844 | S100YD2K |
| FY ending Mar 2026 | 93,787 | — | — | 12,349 | -49,721 | -55,198 | S100YD2K |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥40.3M |
| Net income per employee (consolidated) | ¥5.3M |

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

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 2,617 | 2,530 | 2,431 | 2,378 | 2,325 |
| Average salary (parent company) | ¥9.9M | ¥9.3M | ¥9.4M | ¥9.5M | ¥10M |
| Average age (parent company) | 53.0 years | 52.6 years | 52.9 years | 53.5 years | 54.1 years |
| Average tenure (parent company) | 30.4 years | 29.1 years | 28.6 years | 29.2 years | 30.1 years |

Year over year: Employees (consolidated) -2.2% · Revenue (consolidated) +25.2%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Bank | 75,382 | 80.0% | 16,494 | 21.9% |
| Lease | 17,181 | 18.2% | 148 | 0.9% |
| Other | 1,681 | 1.8% | 3,989 | 237.3% |

### 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 |
| --- | ---: |
| Bank | 80.0% |
| Lease | 18.2% |
| Other | 1.8% |

Segment → industry: Bank → Regional Banks / Other → Credit Cards & Consumer Credit / Lease → 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 | -49,721 | -53.0% | S100YD2K |
| Capital expenditure | 5,477 | 5.8% | S100YD2K |
| Free cash flow | -55,198 | -58.9% | 算出 |
| Investing cash flow | -20,851 | -22.2% | S100YD2K |
| Financing cash flow | -3,680 | -3.9% | S100YD2K |
| Dividends paid | 3,320 | 3.5% | S100YD2K |
| Share buyback | 359 | 0.4% | S100YD2K |
| Change in cash | -74,253 | -79.2% | S100YD2K |
| Cash and equivalents | 348,108 | 371.2% | S100YD2K |

## 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 | 9.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 4.4% | 2026-03-31 |
| 銀泉株式会社 | Major shareholder | 4.1% | 2026-03-31 |
| 三十三フィナンシャルグループ 職員持株会 | Major shareholder | 3.8% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 3.0% | 2026-03-31 |
| 三井住友カード株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| モルガン・スタンレーＭＵＦＧ証券 株式会社 | Major shareholder | 2.1% | 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 | 1.3% | 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 | 1.2% | 2026-03-31 |
| ＳＭＢＣ日興証券株式会社 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第8期(2025/04/01－2026/03/31) | S100YD2K | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YD2K,, |
| 有価証券報告書－第7期(2024/04/01－2025/03/31) | S100VZ84 | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ84,, |
| 有価証券報告書－第6期(2023/04/01－2024/03/31) | S100TPCH | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPCH,, |
| 有価証券報告書－第5期(2022/04/01－2023/03/31) | S100R2KW | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2KW,, |
| 有価証券報告書－第4期(令和3年4月1日－令和4年3月31日) | S100OFGO | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFGO,, |
| 有価証券報告書－第3期(令和2年4月1日－令和3年3月31日) | S100LRP8 | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LRP8,, |

## 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).