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Suruga Bank
(8358)
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Rating:67Neutral
Price Target:
¥3,143.00
▲(6.69% Upside)
Action:Downgraded
Date:08/17/26
The score is driven primarily by improving profitability and a conservatively levered balance sheet, but it is held back by highly unstable cash flows (including a large negative year). Technicals are supportive given the strong uptrend, though overbought signals add near-term risk, while valuation remains reasonable with a moderate dividend yield.
Positive Factors
Profit and revenue growth
Strong recent revenue and earnings growth indicates improved operating momentum and customer or product economics. If sustained, the higher profit base can strengthen internal capital generation and support investment across the bank’s lending and service franchises.
Negative Factors
Unreliable cash generation
The sharp swings in operating and free cash flow make internally generated liquidity difficult to forecast. Although both measures turned positive in 2026, the prior deficit indicates that reported earnings may not consistently translate into dependable cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Profit and revenue growth
Strong recent revenue and earnings growth indicates improved operating momentum and customer or product economics. If sustained, the higher profit base can strengthen internal capital generation and support investment across the bank’s lending and service franchises.
Read all positive factors
Suruga Bank (8358) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥502.18B
Dividend Yield2.03%
Average Volume (3M)798.45K
Price to Earnings (P/E)11.8
Beta (1Y)0.88
Revenue Growth12.60%
EPS Growth148.64%
CountryJP
Employees1,383
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)251.38
Shares Outstanding172,139,250
10 Day Avg. Volume862,000
30 Day Avg. Volume798,453
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.08
Price to Sales (P/S)4.08
P/FCF Ratio57.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,700.00Price Target Upside-8.35% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)207.98
Revenue Forecast (FY)¥100.67B
Suruga Bank Business Overview & Revenue Model
Company Description
Based in Japan, Suruga Bank Ltd. offers a comprehensive suite of banking and financial solutions tailored for both retail and corporate clients. Its core services include a diverse range of deposit accounts, encompassing time deposits, standard sa...
How the Company Makes Money
Suruga Bank makes money primarily through banking spread income and fee-based income. Spread income comes from earning interest on loans and other interest-earning assets and paying interest on deposits and other funding; the net difference is rec...
Suruga Bank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 103.61B | 85.32B | 73.98B | 67.99B | 62.08B | 80.42B |
| Gross Profit | 94.61B | 86.91B | 73.68B | 69.22B | 63.26B | 64.06B |
| EBITDA | 49.10B | 39.34B | 30.80B | 24.80B | 17.60B | 14.83B |
| Net Income | 43.36B | 34.73B | 20.18B | 15.38B | 10.58B | 7.96B |
Balance Sheet | ||||||
| Total Assets | 3.56T | 3.54T | 3.46T | 3.56T | 3.64T | 3.59T |
| Cash, Cash Equivalents and Short-Term Investments | 449.26B | 434.16B | 693.36B | 982.20B | 1.04T | 874.18B |
| Total Debt | 10.01B | 0.00 | 32.00M | 80.00M | 115.00M | 35.00M |
| Total Liabilities | 3.23T | 3.22T | 3.17T | 3.27T | 3.37T | 3.33T |
| Stockholders Equity | 330.37B | 323.33B | 295.71B | 295.01B | 270.94B | 264.13B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 6.06B | -210.53B | 0.00 | 22.17B | 137.00B |
| Operating Cash Flow | 0.00 | 7.41B | -208.48B | 0.00 | 24.49B | 142.16B |
| Investing Cash Flow | 0.00 | -286.05B | -56.45B | 45.14B | 142.31B | -210.78B |
| Financing Cash Flow | 0.00 | 24.68B | -15.92B | -137.68B | -1.13B | -18.83B |
Suruga Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥593.64B | 18.46 | 5.51% | 1.63% | 29.10% | 91.90% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ¥502.18B | 11.79 | 11.26% | 2.18% | 12.60% | 148.64% | |
65 Neutral | ¥455.52B | 15.90 | ― | 2.94% | 16.26% | 41.29% | |
62 Neutral | ¥633.37B | 26.02 | ― | 1.50% | 23.01% | 25.19% | |
62 Neutral | ¥463.88B | 17.19 | ― | 3.01% | 24.66% | 33.09% | |
57 Neutral | ¥468.50B | 15.33 | 5.47% | 3.03% | 12.37% | 60.15% |
* Financial Sector Average
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Suruga Bank Corporate Events
Suruga Bank Posts Sharp Profit Rebound in First Quarter, Keeps Dividend Outlook Steady
Aug 10, 2026
Suruga Bank reported a strong rebound in earnings for the three months ended June 30, 2026, with ordinary income rising 42.6% year-on-year to ¥37.1 billion and ordinary profit surging 207.7% to ¥20.5 billion. Profit attributable to owner...
Suruga Bank Advances Share Buyback Under 2026 Capital Plan
Aug 5, 2026
Suruga Bank has repurchased 1,014,700 shares of its common stock on the Tokyo Stock Exchange between July 1 and July 31, 2026, at a total cost of ¥2,666,172,900, as part of a board-approved buyback program. The repurchase forms part of a broa...
Suruga Bank Discloses Indus Capital as Major Shareholder After Stake Increase
Jul 9, 2026
Suruga Bank has disclosed that Indus Capital Partners, an investment management firm based in New York, has increased its stake to become a major shareholder as of July 1, 2026. Indus now holds 19,072,400 shares, representing 11.15% of the bank...
Suruga Bank Advances Share Buyback Under ¥12 Billion Repurchase Program
Jul 1, 2026
Suruga Bank has repurchased 99,900 shares of its common stock on the Tokyo Stock Exchange between June 1 and June 30, 2026, at a total cost of ¥241.2 million, under the authority granted by its Articles of Incorporation and Japan’s Comp...
Suruga Bank Outlines Governance and Independence Under Credit Saison Alliance
Jun 30, 2026
Suruga Bank has detailed its relationship with Credit Saison, which holds 17.21% of its voting rights and classifies as a controlling other affiliated company. The two firms share strong retail finance capabilities and have formalized a capital an...
Suruga Bank Faces New Appeal in Founder Family Governance Damages Case
May 20, 2026
Suruga Bank has disclosed that all four former directors, or their heirs, have appealed a Shizuoka District Court judgment that held them liable for breaching their duties in connection with credit management problems involving the bank’s fo...
Suruga Bank Reports No Initial Purchases Under Share Buyback Program
May 18, 2026
Suruga Bank has disclosed the initial status of its board-approved share repurchase program, authorized in late April to buy back up to 5 million shares, or about 2.92% of its outstanding stock, for a maximum of 12 billion yen by year-end. The ban...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.