# The Shikoku 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212期(2025/04/01－2026/03/31) (S100YD3N)
> Page: https://vizora.meequs.com/en/company/shikoku-bank
> Retrieved: 2026-09-30T19:14:29.757Z

## Company

The Shikoku Bank, founded in 1878, is a company in Regional Banks listed on TSE Prime. It has 1,319 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Shikoku Bank, Ltd. |
| Ticker | 8387 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8387.T) |
| Listing | TSE Prime |
| Head office | 高知市南はりまや町一丁目1番1号 |
| Representative (per filing) | 取締役頭取 小林達司 |
| Founded | Oct 1878 |
| Employees (consolidated) | 1,319 |
| Average salary (parent only) | ¥7M |
| Fiscal year end | March |
| Corporate number | 7490001000786 |
| EDINET | E03590 |
| Industries (Vizora) | Regional Banks |

> Profile source: annual securities report (S100YD3N, filed 2026-06-18). As of filing

## Key points (generated from figures)

- The Shikoku Bank brought in ¥69.5B in ordinary revenue.
- Out of every ¥100 of ordinary revenue, about ¥20 is left as ordinary profit.
- Ordinary revenue changed +29.1% from the prior year, ordinary profit +36.6%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥69.5B |  |
| Ordinary income | ¥14B | Margin 20.2% |
| Net income | ¥17.4B | Margin 25.1% |
| Employees (consolidated) | 1,319 |  |
| EPS | ¥191.9 |  |
| Diluted EPS | ¥191.74 |  |
| Book value per share | ¥4021.8 |  |
| Equity ratio | 5.4% |  |
| Shares outstanding | 42,400,000 |  |
| Treasury shares | 515,800 |  |
| Shareholders | 28,989 |  |
| Average salary (parent only) | ¥7M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥41502000000 | ¥69524000000 | +67.5% |
| Employees | 1,336 people | 1,319 people | -1.3% |
| Cash and equivalents | ¥327645000000 | ¥294667000000 | -10.1% |

### 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 | 69,524 | 100.0% | S100YD3N |
| Ordinary expenses | 55,477 | 79.8% | S100YD3N |
| Ordinary income | 14,046 | 20.2% | S100YD3N |
| Extraordinary income | 12,794 | 18.4% | S100YD3N |
| Extraordinary loss | 4,233 | 6.1% | S100YD3N |
| Pretax income | 22,608 | 32.5% | S100YD3N |
| Income tax | 5,162 | 7.4% | S100YD3N |
| Net income | 17,445 | 25.1% | S100YD3N |
| Net income attributable to owners | 17,445 | 25.1% | S100YD3N |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 80 |
| Ordinary income | 20 |
| (Ref.) Net income | 25 |

### Margin funnel

Ordinary margin 20.2% → Net margin 25.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +29.1%; Core profit growth: +36.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.26×
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 | 53,833 | 69,524 | 15,691 | +29.1% |
| Net income attributable to owners | 6,813 | 17,445 | 10,632 | +156.1% |
| Operating cash flow | 86,410 | -27,135 | -113,545 | -131.4% |
| Free cash flow | 84,791 | -29,126 | -113,917 | -134.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 50,000 | — | — | 8,869 | 72,794 | — | S100LPWI |
| FY ending Mar 2018 | 47,206 | — | — | 7,157 | -43,861 | — | S100OI2F |
| FY ending Mar 2019 | 45,227 | — | — | 6,221 | -58,915 | — | S100R8AG |
| FY ending Mar 2020 | 42,970 | — | — | 3,096 | -95,552 | -96,940 | S100LPWI |
| FY ending Mar 2021 | 41,502 | — | — | 6,641 | 224,249 | 223,079 | S100OI2F |
| FY ending Mar 2022 | 43,527 | — | — | 7,945 | 299,231 | 296,820 | S100R8AG |
| FY ending Mar 2023 | 60,695 | — | — | 5,549 | -362,234 | -364,035 | S100TSRR |
| FY ending Mar 2024 | 52,486 | — | — | 7,285 | -85,628 | -87,622 | S100W819 |
| FY ending Mar 2025 | 53,833 | — | — | 6,813 | 86,410 | 84,791 | S100YD3N |
| FY ending Mar 2026 | 69,524 | — | — | 17,445 | -27,135 | -29,126 | S100YD3N |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥52.7M |
| Net income per employee (consolidated) | ¥13.2M |

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) | 1,289 | 1,264 | 1,263 | 1,282 | 1,319 |
| Average salary (parent company) | ¥6.2M | ¥6.2M | ¥6.5M | ¥6.8M | ¥7M |
| Average age (parent company) | 38.1 years | 38.1 years | 39.0 years | 39.3 years | 39.1 years |
| Average tenure (parent company) | 14.7 years | 14.7 years | 14.9 years | 14.7 years | 15.8 years |

Year over year: Employees (consolidated) +2.9% · Revenue (consolidated) +29.1%

## 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 | -27,135 | -39.0% | S100YD3N |
| Capital expenditure | 1,991 | 2.9% | S100YD3N |
| Free cash flow | -29,126 | -41.9% | 算出 |
| Investing cash flow | 145,338 | 209.0% | S100YD3N |
| Financing cash flow | -1,263 | -1.8% | S100YD3N |
| Dividends paid | 2,193 | 3.2% | S100YD3N |
| Share buyback | 2 | 0.0% | S100YD3N |
| Change in cash | 116,939 | 168.2% | S100YD3N |
| Cash and equivalents | 294,667 | 423.8% | S100YD3N |

## 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 | 9.0% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 4.8% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 4.3% | 2026-03-31 |
| 日亜化学工業株式会社 | Major shareholder | 2.4% | 2026-03-31 |
| 四国銀行従業員持株会 | Major shareholder | 2.3% | 2026-03-31 |
| 日本生命保険相互会社 | 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 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY505223(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.0% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第212期(2025/04/01－2026/03/31) | S100YD3N | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YD3N,, |
| 訂正有価証券報告書－第211期(2024/04/01－2025/03/31) | S100W819 | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W819,, |
| 有価証券報告書－第210期(2023/04/01－2024/03/31) | S100TSRR | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSRR,, |
| 有価証券報告書－第209期(2022/04/01－2023/03/31) | S100R8AG | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8AG,, |
| 有価証券報告書－第208期(令和3年4月1日－令和4年3月31日) | S100OI2F | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OI2F,, |
| 有価証券報告書－第207期(令和2年4月1日－令和3年3月31日) | S100LPWI | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPWI,, |

## 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).