# THE TOCHIGI 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123期(2025/04/01－2026/03/31) (S100YE6L)
> Page: https://vizora.meequs.com/en/company/tochigi-bank
> Retrieved: 2026-09-30T20:32:36.119Z

## Company

THE Tochigi Bank, founded in 1942, is a company in Regional Banks listed on TSE Prime. It has 1,501 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | THE TOCHIGI BANK, LTD. |
| Ticker | 8550 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8550.T) |
| Listing | TSE Prime |
| Head office | 栃木県宇都宮市西2丁目1番18号 |
| Representative (per filing) | 取締役頭取 仲田裕之 |
| Founded | Dec 1942 |
| Employees (consolidated) | 1,501 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | March |
| Website | www.tochigibank.co.jp (https://www.tochigibank.co.jp/) |
| Corporate number | 5060001000014 |
| EDINET | E03639 |
| Industries (Vizora) | Regional Banks, Securities & Asset Management, Credit Cards & Consumer Credit, Leasing |

> Profile source: annual securities report (S100YE6L, filed 2026-06-19). As of filing

## Key points (generated from figures)

- About 87% of THE Tochigi Bank's ordinary revenue comes from Banking, with Other and Financial instruments business making up much of the rest.
- Out of every ¥100 of ordinary revenue, about ¥18 is left as ordinary profit.
- Ordinary revenue changed +21.0% from the prior year, and it swung back to an ordinary profit.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Ordinary revenue | ¥54.6B |  |
| Ordinary income | ¥10B | Margin 18.4% |
| Net income | ¥8.29B | Margin 15.2% |
| Employees (consolidated) | 1,501 |  |
| EPS | ¥77.14 |  |
| Book value per share | ¥1420.95 |  |
| Equity ratio | 4.8% |  |
| Shares outstanding | 109,608,000 |  |
| Treasury shares | 4,514,700 |  |
| Shareholders | 15,209 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥40238000000 | ¥54551000000 | +35.6% |
| Employees | 1,763 people | 1,501 people | -14.9% |
| Cash and equivalents | ¥651466000000 | ¥461641000000 | -29.1% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 銀行業 → 銀行業 | 87.5% |
| 銀行業 → 事業再編・廃止 | 2.3% |
| 金融商品取引業 → 金融商品取引業 | 5.1% |
| 金融商品取引業 → 事業再編・廃止 | 1.2% |
| その他 → その他 | 3.9% |
| 新設・再編 → その他 | 3.5% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Banking | 5 years | +5.7% | ¥47728000000 | 18.6% | 2 |
| Other | 5 years | +20.9% | ¥4021000000 | 14.4% | 2 |
| Financial instruments business | 5 years | +1.9% | ¥2801000000 | 21.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Ordinary revenue | 54,551 | 100.0% | S100YE6L |
| Ordinary expenses | 44,532 | 81.6% | S100YE6L |
| Ordinary income | 10,019 | 18.4% | S100YE6L |
| Extraordinary income | 309 | 0.6% | S100YE6L |
| Extraordinary loss | 566 | 1.0% | S100YE6L |
| Pretax income | 9,763 | 17.9% | S100YE6L |
| Income tax | 1,352 | 2.5% | S100YE6L |
| Net income | 8,410 | 15.4% | S100YE6L |
| Net income attributable to owners | 8,289 | 15.2% | S100YE6L |

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

| Part | JPY |
| --- | ---: |
| Ordinary expenses | 82 |
| Ordinary income | 18 |
| (Ref.) Net income | 15 |

### Margin funnel

Ordinary margin 18.4% → Net margin 15.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
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 | 45,087 | 54,551 | 9,464 | +21.0% |
| Net income attributable to owners | -22,328 | 8,289 | 30,617 | — |
| Operating cash flow | -97,699 | -171,176 | -73,477 | — |
| Free cash flow | -103,984 | -179,055 | -75,071 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 50,353 | — | — | 7,652 | 13,399 | — | S100LQIQ |
| FY ending Mar 2018 | 45,450 | — | — | 4,490 | -4,820 | — | S100OJJ8 |
| FY ending Mar 2019 | 43,043 | — | — | 1,426 | -12,743 | — | S100R1YA |
| FY ending Mar 2020 | 42,461 | — | — | 1,822 | 22,406 | 21,433 | S100LQIQ |
| FY ending Mar 2021 | 40,238 | — | — | 2,081 | 317,901 | 316,458 | S100OJJ8 |
| FY ending Mar 2022 | 41,646 | — | — | 3,628 | 279,583 | 278,425 | S100R1YA |
| FY ending Mar 2023 | 45,222 | — | — | 2,652 | -290,895 | -292,198 | S100TT79 |
| FY ending Mar 2024 | 45,276 | — | — | 2,101 | 14,558 | 11,352 | S100W1SX |
| FY ending Mar 2025 | 45,087 | — | — | -22,328 | -97,699 | -103,984 | S100YE6L |
| FY ending Mar 2026 | 54,551 | — | — | 8,289 | -171,176 | -179,055 | S100YE6L |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥36.3M |
| Net income per employee (consolidated) | ¥5.5M |

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) | 1,701 | 1,634 | 1,544 | 1,513 | 1,501 |
| Average salary (parent company) | ¥5.9M | ¥6M | ¥6.3M | ¥6.4M | ¥6.8M |
| Average age (parent company) | 39.0 years | 40.0 years | 40.5 years | 40.8 years | 40.8 years |
| Average tenure (parent company) | 16.7 years | 17.4 years | 18.0 years | 18.0 years | 18.1 years |

Year over year: Employees (consolidated) -0.8% · Revenue (consolidated) +21.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Banking | 47,728 | 87.5% | 8,865 | 18.6% |
| Financial instruments business | 2,801 | 5.1% | 602 | 21.5% |
| Other | 4,021 | 7.4% | 579 | 14.4% |

### 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 | 87.5% |
| Financial instruments business | 5.1% |
| Other | 7.4% |

Segment → industry: Banking → Regional Banks / Financial instruments business → Securities & Asset Management / Other → Credit Cards & Consumer Credit / Other → 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 | -171,176 | -313.8% | S100YE6L |
| Capital expenditure | 7,879 | 14.4% | S100YE6L |
| Free cash flow | -179,055 | -328.2% | 算出 |
| Investing cash flow | -50,153 | -91.9% | S100YE6L |
| Financing cash flow | -1,510 | -2.8% | S100YE6L |
| Dividends paid | 1,628 | 3.0% | S100YE6L |
| Share buyback | 0 | 0.0% | S100YE6L |
| Change in cash | -222,830 | -408.5% | S100YE6L |
| Cash and equivalents | 461,641 | 846.3% | S100YE6L |

## 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 | 13.5% | 2026-03-31 |
| 株式会社日本カストディ銀行 (信託口) | Major shareholder | 5.0% | 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 | 4.0% | 2026-03-31 |
| 栃木銀行行員持株会 | Major shareholder | 4.0% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG（FE-AC)（常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 2.7% | 2026-03-31 |
| 高橋 慧 | Major shareholder | 2.3% | 2026-03-31 |
| 株式会社東和銀行 | Major shareholder | 1.7% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 1.3% | 2026-03-31 |
| 住友生命保険相互会社 | 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 | 1.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第123期(2025/04/01－2026/03/31) | S100YE6L | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YE6L,, |
| 有価証券報告書－第122期(2024/04/01－2025/03/31) | S100W1SX | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1SX,, |
| 有価証券報告書－第121期(2023/04/01－2024/03/31) | S100TT79 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TT79,, |
| 有価証券報告書－第120期(2022/04/01－2023/03/31) | S100R1YA | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1YA,, |
| 有価証券報告書－第119期(令和3年4月1日－令和4年3月31日) | S100OJJ8 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJJ8,, |
| 有価証券報告書－第118期(令和2年4月1日－令和3年3月31日) | S100LQIQ | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQIQ,, |

## 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).