San ju San Financial Group, Inc. (7322) AI Stock Analysis

• Market Cap: ¥164.19B
• Dividend Yield: 2.96%
• Average Volume (3M): 62.76K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 1.11
• Revenue Growth: 14.85%
• EPS Growth: 21.17%
• Country: JP
• Employees: 2,431
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 152.73
• Shares Outstanding: 26,167,585
• 10 Day Avg. Volume: 70,050
• 30 Day Avg. Volume: 62,756
• PEG Ratio: 0.28
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 0.87
• P/FCF Ratio: 1.55
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ¥6,941.00 ▲(49.11% Upside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

Overall score reflects solid financial performance (growth and improving profitability, supported by strong cash conversion) and strong technical uptrend (price well above major moving averages and positive MACD). The main offsets are balance-sheet leverage considerations and an elevated RSI suggesting momentum is stretched; valuation appears fair with a moderate dividend yield.

Positive Factors

Diversified fee-based revenue streams

A diversified mix of recurring fee income (AUM management fees, advisory fees, insurance commissions and partner distribution) supports more stable top-line cash flows. This reduces reliance on single-product cycles and underpins predictable revenue and client stickiness over months to years.

Improving net profit margin

A materially improved net margin (15.40%) indicates enhanced pricing power or cost control, boosting retained earnings and internal capital generation. Sustained higher margins improve resilience to revenue swings and enable reinvestment, dividends, or gradual deleveraging over the medium term.

Strong cash conversion and FCF growth

High operating cash conversion (OCF/Net Income ~2.98) and growing free cash flow point to durable cash generation. This strengthens liquidity, funds strategic initiatives without external financing, and supports capital returns or balance-sheet repair over multiple quarters.

Negative Factors

Moderate leverage and low equity ratio

A debt-to-equity of 1.48 and a low equity ratio signal material reliance on borrowed funds. That leverage profile reduces financial flexibility, raises interest and refinancing risk, and makes capital buffers thinner in stress scenarios, constraining strategic optionality over time.

Low return on equity

An ROE of ~4.2%, even if improved, remains modest for a financial-services firm. Persistently low ROE limits shareholder value creation and signals that underlying asset returns or capital allocation need improvement, requiring either higher margins, growth or increased leverage to lift returns sustainably.

EBIT margin weakness

A declining EBIT margin points to operational inefficiencies or cost pressure. If the trend continues, it can compress operating profits and cash flow despite revenue growth, forcing management to choose between margin recovery programs, slower growth, or higher leverage to maintain returns.

San ju San Financial Group, Inc. Business Overview & Revenue Model

Company Description

San ju San Financial Group,Inc. provides various banking products and services. It operates in two segments, Banking and Leasing. The Banking segment offers deposit products; government bond/investment trust products; and lending, domestic and foreign exchange, insurance window sales, and corporate bond entrustment and registration services. The leasing segment engages in leasing business. It is also involved in the credit card and credit guarantee businesses. The company was founded in 1895 and is headquartered in Yokkaichi, Japan.

How the Company Makes Money

San ju San Financial Group, Inc. generates revenue through multiple streams, primarily from fees associated with asset management and financial advisory services. The company charges management fees based on the assets under management (AUM) for its investment portfolios, which constitute a significant portion of its income. Additionally, it earns commissions and fees from insurance products and financial planning services. Strategic partnerships with banks and other financial institutions enhance its service offerings and client reach, contributing to its overall revenue. Furthermore, the company may also generate income from proprietary investment products and performance-based incentives, aligning its interests with those of its clients.

San ju San Financial Group, Inc. Financial Statement Overview

Summary

Income statement is strong (75) with 6.96% revenue growth and improved net margin to 15.40%, but slightly weaker EBIT margin suggests some efficiency pressure. Cash flow is solid (70) with strong cash conversion (operating cash flow to net income of 2.98) despite historical volatility. Balance sheet is steadier but less strong (65) with moderate leverage (debt-to-equity 1.48) and a relatively low equity ratio.

Income Statement

San ju San Financial Group has shown a solid revenue growth rate of 6.96% in the latest year, indicating a positive trajectory. The net profit margin improved to 15.40%, reflecting enhanced profitability. However, the EBIT margin decreased slightly, suggesting some operational challenges. Overall, the income statement reflects strong growth and profitability, but with room for operational efficiency improvements.

Balance Sheet

The company's debt-to-equity ratio stands at 1.48, indicating a moderate level of leverage, which is typical for the banking industry. Return on equity improved to 4.20%, showing better utilization of equity. However, the equity ratio is relatively low, suggesting a higher reliance on debt financing. The balance sheet shows stability with some leverage concerns.

Cash Flow

The free cash flow has shown significant growth, indicating improved cash generation capabilities. The operating cash flow to net income ratio is strong at 2.98, highlighting efficient cash conversion. However, past negative cash flows indicate potential volatility. Overall, the cash flow statement reflects strong cash generation with some historical fluctuations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	71.25B	70.72B	64.21B	62.66B	67.02B	72.32B
Gross Profit	71.25B	67.70B	63.72B	62.20B	66.47B	71.50B
EBITDA	7.95B	16.14B	14.86B	13.63B	9.04B	9.42B
Net Income	8.86B	8.65B	6.90B	6.33B	4.91B	4.18B
Balance Sheet
Total Assets	4.56T	4.51T	4.43T	4.29T	4.64T	4.31T
Cash, Cash Equivalents and Short-Term Investments	0.00	428.22B	432.51B	347.34B	903.76B	535.49B
Total Debt	329.86B	304.16B	291.39B	208.16B	578.13B	243.49B
Total Liabilities	4.35T	4.30T	4.22T	4.09T	4.41T	4.07T
Stockholders Equity	213.51B	205.97B	213.11B	194.66B	229.30B	238.11B
Cash Flow
Free Cash Flow	0.00	39.80B	-8.18B	-384.83B	371.65B	-6.04B
Operating Cash Flow	0.00	42.27B	-4.75B	-382.47B	373.67B	-2.66B
Investing Cash Flow	0.00	-11.67B	23.39B	-143.94B	-5.05B	52.87B
Financing Cash Flow	0.00	43.26B	57.24B	-32.29B	-2.25B	226.41B

San ju San Financial Group, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4655.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7322, the sentiment is Positive. The current price of 4655 is below the 20-day moving average (MA) of 5850.00, below the 50-day MA of 5141.50, and above the 200-day MA of 3817.77, indicating a bullish trend. The MACD of 300.32 indicates Positive momentum. The RSI at 71.69 is Negative, neither overbought nor oversold. The STOCH value of 59.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7322.

San ju San Financial Group, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7350	78 Outperform	¥128.27B	11.95	―	2.71%	15.37%	35.08%
7184	72 Outperform	¥173.33B	16.76	―	2.63%	23.55%	-21.15%
7322	70 Outperform	¥164.19B	14.02	―	2.96%	14.85%	21.17%
8346	70 Outperform	¥183.25B	16.74	―	2.23%	29.06%	40.95%
8360	69 Neutral	¥176.19B	16.81	―	2.56%	17.66%	49.06%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
8337	65 Neutral	¥145.38B	15.47	―	0.58%	15.03%	16.66%

San ju San Financial Group, Inc. Corporate Events

San ju San Financial Group to Execute 4-for-1 Share Split and Revise Shareholder Benefits

San ju San Financial Group, Inc. will implement a four-for-one split of its common shares, effective April 1, 2026, to lower the per-investment unit price, improve share liquidity and broaden its investor base, increasing issued shares from 26,167,585 to 104,670,340 while leaving paid-in capital unchanged. In conjunction with the split, the company will amend its Articles of Incorporation to raise its authorized share capital to 280 million shares and adjust the thresholds for its shareholder benefits program—such as preferential time deposits, QUO cards and gift catalog entitlements—so that post-split holding requirements align with the new share count structure, thereby maintaining the appeal of its equity to existing and prospective shareholders.

The most recent analyst rating on (JP:7322) stock is a Hold with a Yen5858.00 price target. To see the full list of analyst forecasts on San ju San Financial Group, Inc. stock, see the JP:7322 Stock Forecast page.

San ju San Financial Group Delivers Strong Nine-Month Earnings and Confirms Higher Dividend for FY2025/26

San ju San Financial Group reported strong consolidated results for the nine months ended December 31, 2025, with ordinary income rising 26.5% year-on-year to ¥69.0 billion, ordinary profit up 30.1% to ¥12.7 billion, and profit attributable to owners of parent surging 46.3% to ¥9.6 billion, driving basic earnings per share to ¥370.61. The group’s total assets increased to ¥4.57 trillion and net assets to ¥228.7 billion, improving its equity-to-asset ratio to 5.0%, while it maintained its full-year forecast for FY2025/26, targeting a 33.6% increase in ordinary profit and a 28.3% rise in profit attributable to owners, and confirming an increased full-year dividend forecast of ¥128 per share, underscoring both capital strength and shareholder return commitment.

The most recent analyst rating on (JP:7322) stock is a Hold with a Yen5858.00 price target. To see the full list of analyst forecasts on San ju San Financial Group, Inc. stock, see the JP:7322 Stock Forecast page.