# Suruga 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215期(2025/04/01－2026/03/31) (S100YCW1)
> Page: https://vizora.meequs.com/en/company/suruga-bank
> Retrieved: 2026-09-30T19:08:47.865Z

## Company

Suruga Bank, founded in 1974, is a company in Regional Banks listed on TSE Prime. It has 1,383 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Suruga Bank Ltd. |
| Ticker | 8358 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8358.T) |
| Listing | TSE Prime |
| Head office | 静岡県沼津市通横町23番地 |
| Representative (per filing) | 取締役社長 加藤広亮 |
| Founded | Jun 1974 |
| Employees (consolidated) | 1,383 |
| Average salary (parent only) | ¥8M |
| Fiscal year end | March |
| Website | www.surugabank.co.jp (https://www.surugabank.co.jp/) |
| Corporate number | 9080101000957 |
| EDINET | E03571 |
| Industries (Vizora) | Regional Banks, Credit Cards & Consumer Credit, Consumer Finance |

> Profile source: annual securities report (S100YCW1, filed 2026-06-17). As of filing

## Key points (generated from figures)

- About 92% of Suruga Bank's ordinary revenue comes from Banking, with Other making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥32 is left as ordinary profit.
- Ordinary revenue changed +20.7% from the prior year, ordinary profit +35.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥109.9B |  |
| Ordinary income | ¥35.5B | Margin 32.3% |
| Net income | ¥34.7B | Margin 31.6% |
| Employees (consolidated) | 1,383 |  |
| EPS | ¥194.51 |  |
| Book value per share | ¥1774.8 |  |
| Equity ratio | 9.1% |  |
| Shares outstanding | 197,139,000 |  |
| Treasury shares | 25,893,400 |  |
| Shareholders | 17,331 |  |
| Average salary (parent only) | ¥8M | Filing company only |

## Notable figures

- FY2026, buybacks were 2.7× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥99791000000 | ¥109912000000 | +10.1% |
| Employees | 1,684 people | 1,383 people | -17.9% |
| Cash and equivalents | ¥943263000000 | ¥430500000000 | -54.4% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 銀行 → 銀行 | 89.2% |
| その他 → その他 | 7.6% |
| 保証業 → 事業再編・廃止 | 3.2% |
| 新設・再編 → 銀行 | 2.5% |
| 新設・再編 → その他 | 0.7% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 109,912 | 100.0% | S100YCW1 |
| Ordinary expenses | 74,393 | 67.7% | S100YCW1 |
| Ordinary income | 35,518 | 32.3% | S100YCW1 |
| Extraordinary income | 233 | 0.2% | S100YCW1 |
| Extraordinary loss | 471 | 0.4% | S100YCW1 |
| Pretax income | 35,280 | 32.1% | S100YCW1 |
| Income tax | 556 | 0.5% | S100YCW1 |
| Net income | 34,724 | 31.6% | S100YCW1 |
| Net income attributable to owners | 34,728 | 31.6% | S100YCW1 |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 68 |
| Ordinary income | 32 |
| (Ref.) Net income | 32 |

### Margin funnel

Ordinary margin 32.3% → Net margin 31.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +20.7%; Core profit growth: +35.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.73×
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 | 91,092 | 109,912 | 18,820 | +20.7% |
| Net income attributable to owners | 20,177 | 34,728 | 14,551 | +72.1% |
| Operating cash flow | -208,482 | -148,142 | 60,340 | — |
| Free cash flow | -210,527 | -151,138 | 59,389 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 145,753 | — | — | 42,627 | -43,542 | — | S100LPLB |
| FY ending Mar 2018 | 156,278 | — | — | 6,988 | 32,724 | — | S100O9BW |
| FY ending Mar 2019 | 139,635 | — | — | -97,146 | -547,470 | — | S100R6KE |
| FY ending Mar 2020 | 118,008 | — | — | 25,324 | 460,788 | 458,452 | S100LPLB |
| FY ending Mar 2021 | 99,791 | — | — | 21,433 | 203,686 | 199,055 | S100O9BW |
| FY ending Mar 2022 | 92,072 | — | — | 7,960 | 142,156 | 136,995 | S100R6KE |
| FY ending Mar 2023 | 92,403 | — | — | 10,576 | 24,492 | 22,173 | S100TRES |
| FY ending Mar 2024 | 91,447 | — | — | 15,375 | -93,075 | -95,321 | S100W2NC |
| FY ending Mar 2025 | 91,092 | — | — | 20,177 | -208,482 | -210,527 | S100YCW1 |
| FY ending Mar 2026 | 109,912 | — | — | 34,728 | -148,142 | -151,138 | S100YCW1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥79.5M |
| Net income per employee (consolidated) | ¥25.1M |

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) | 1,607 | 1,535 | 1,449 | 1,405 | 1,383 |
| Average salary (parent company) | ¥7.2M | ¥7.2M | ¥7.4M | ¥7.7M | ¥8M |
| Average age (parent company) | 44.3 years | 44.9 years | 45.4 years | 45.3 years | 45.2 years |
| Average tenure (parent company) | 20.2 years | 20.8 years | 21.2 years | 21.0 years | 20.9 years |

Year over year: Employees (consolidated) -1.6% · Revenue (consolidated) +20.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 100,870 | 91.7% | 34,528 | 34.2% |
| Other | 9,071 | 8.3% | 1,109 | 12.2% |

### 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 | 91.7% |
| Other | 8.3% |

Segment → industry: Banking → Regional Banks / Other → Credit Cards & Consumer Credit / Other → Consumer Finance

## 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 | -148,142 | -134.8% | S100YCW1 |
| Capital expenditure | 2,996 | 2.7% | S100YCW1 |
| Free cash flow | -151,138 | -137.5% | 算出 |
| Investing cash flow | -81,687 | -74.3% | S100YCW1 |
| Financing cash flow | -24,126 | -22.0% | S100YCW1 |
| Dividends paid | 6,503 | 5.9% | S100YCW1 |
| Share buyback | 17,623 | 16.0% | S100YCW1 |
| Change in cash | -253,957 | -231.1% | S100YCW1 |
| Cash and equivalents | 430,500 | 391.7% | S100YCW1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社クレディセゾン | Major shareholder | 17.2% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 10.0% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 4.3% | 2026-03-31 |
| NORTHERN TRUST CO. (AVFC) RE NON TREATY CLIENTS ACCOUNT (常任代理人 香港上海銀行東京支店) | Major shareholder | 4.2% | 2026-03-31 |
| INDUS SELECT MASTER FUND, LTD. (常任代理人 香港上海銀行東京支店) | Major shareholder | 3.4% | 2026-03-31 |
| 一般財団法人スルガ奨学財団 | Major shareholder | 3.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 3.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.0% | 2026-03-31 |
| 損害保険ジャパン株式会社 | Major shareholder | 2.4% | 2026-03-31 |
| INDUS JAPAN LONG ONLY MASTER FUND, LTD (常任代理人 香港上海銀行東京支店) | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第215期(2025/04/01－2026/03/31) | S100YCW1 | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCW1,, |
| 有価証券報告書－第214期(2024/04/01－2025/03/31) | S100W2NC | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2NC,, |
| 有価証券報告書－第213期(2023/04/01－2024/03/31) | S100TRES | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRES,, |
| 有価証券報告書－第212期(2022/04/01－2023/03/31) | S100R6KE | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6KE,, |
| 有価証券報告書－第211期(令和3年4月1日－令和4年3月31日) | S100O9BW | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O9BW,, |
| 有価証券報告書－第210期(令和2年4月1日－令和3年3月31日) | S100LPLB | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPLB,, |

## 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).