Toho Bank, Ltd. (JP:8346)
:8346
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Toho Bank, Ltd.
(8346)
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Rating:72Outperform
Price Target:
¥865.00
▲(54.74% Upside)
Action:Upgraded
Date:05/16/26
The score is driven primarily by improving financial performance (notably the earnings recovery and 2026 growth) and supportive technical uptrend, reinforced by an attractive valuation (low P/E with a dividend). The main risk holding the score down is the historically unstable cash-flow profile and only modest overall returns on equity.
Positive Factors
Earnings recovery & revenue growth
Toho Bank’s multi-year rebound to profitability and the sharp ~24% revenue acceleration in 2026 indicate a durable improvement in core banking performance. Sustained revenue momentum supports loan origination capacity and net interest income, improving long-term earnings stability and strategic reinvestment ability over the next 2–6 months.
Negative Factors
Highly volatile cash generation
Historic swings in operating and free cash flow reduce predictability for lending growth, provisioning and capital planning. Even with recent strength, erratic cash conversion raises the risk that short-term balance-sheet moves or one-off items could materially affect liquidity and investment capacity in the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Earnings recovery & revenue growth
Toho Bank’s multi-year rebound to profitability and the sharp ~24% revenue acceleration in 2026 indicate a durable improvement in core banking performance. Sustained revenue momentum supports loan origination capacity and net interest income, improving long-term earnings stability and strategic reinvestment ability over the next 2–6 months.
Read all positive factors
Toho Bank, Ltd. (8346) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥189.55B
Dividend Yield2.23%
Average Volume (3M)618.99K
Price to Earnings (P/E)15.2
Beta (1Y)1.23
Revenue Growth31.23%
EPS Growth66.11%
CountryJP
Employees1,958
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)33.97
Shares Outstanding252,500,000
10 Day Avg. Volume564,190
30 Day Avg. Volume618,990
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)0.74
Price to Sales (P/S)1.76
P/FCF Ratio2.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Toho Bank, Ltd. Business Overview & Revenue Model
Company Description
The Toho Bank, Ltd. provides various banking products and services in Japan. Its products include individual and institutional deposits, negotiable certificates of deposit, etc.; credit cards; leasing products; commercial and mortgage loans; and b...
How the Company Makes Money
Toho Bank’s earnings are primarily driven by a regional banking model. (1) Net interest income: The bank collects interest on loans and other interest-bearing assets (e.g., corporate/SME loans, consumer loans such as mortgages) and pays interest o...
Toho Bank, Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 74.06B | 91.52B | 68.53B | 57.39B | 56.07B | 58.14B |
| Gross Profit | 65.25B | 74.09B | 62.44B | 55.38B | 53.53B | 55.67B |
| EBITDA | 12.20B | 21.54B | 15.06B | 10.95B | 9.52B | 12.01B |
| Net Income | 8.48B | 12.35B | 7.45B | 5.25B | 4.49B | 6.75B |
Balance Sheet | ||||||
| Total Assets | 6.76T | 6.74T | 6.65T | 6.76T | 6.61T | 7.14T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 952.16B | 1.24T | 1.80T | 1.99T | 2.80T |
| Total Debt | 221.96B | 243.53B | 222.05B | 198.94B | 182.47B | 690.05B |
| Total Liabilities | 6.56T | 6.52T | 6.46T | 6.55T | 6.42T | 6.94T |
| Stockholders Equity | 204.69B | 217.75B | 197.23B | 206.18B | 191.01B | 192.74B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 69.17B | 24.24B | 1.75B | -768.00B | 0.00 |
| Operating Cash Flow | 0.00 | 71.69B | 27.62B | 6.71B | -759.85B | 0.00 |
| Investing Cash Flow | 0.00 | -386.45B | -350.27B | -302.83B | -49.66B | -44.37B |
| Financing Cash Flow | 0.00 | 24.88B | -143.11B | -1.73B | -1.90B | 81.65B |
Toho Bank, Ltd. Technical Analysis
Positive
559.00
Price Trends
695.11
Positive
662.15
Positive
551.73
Positive
Market Momentum
22.55
Negative
59.81
Neutral
53.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8346, the sentiment is Positive. The current price of 559 is below the 20-day moving average (MA) of 726.20, below the 50-day MA of 695.11, and above the 200-day MA of 551.73, indicating a bullish trend. The MACD of 22.55 indicates Negative momentum. The RSI at 59.81 is Neutral, neither overbought nor oversold. The STOCH value of 53.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8346.
Toho Bank, Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥167.03B | 13.47 | ― | 2.96% | 21.41% | 42.73% | |
72 Outperform | ¥189.55B | 15.21 | ― | 2.23% | 31.23% | 66.11% | |
70 Outperform | ¥175.81B | 16.10 | 3.68% | 2.26% | 23.47% | 44.30% | |
68 Neutral | ¥155.67B | 10.44 | ― | 2.63% | 5.33% | 14.43% | |
68 Neutral | ¥187.70B | 18.03 | ― | 2.56% | 42.06% | 29.62% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | ¥158.28B | 11.05 | ― | 2.29% | 9.41% | 45.91% |
* Financial Sector Average
JP:8346
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Toho Bank, Ltd. Corporate Events
Toho Bank Shifts Executive Pay Metrics to ROE, Expands Performance-Linked Incentives
May 15, 2026
The Toho Bank, Ltd. has revised its performance-linked remuneration scheme for executives and eligible personnel, shifting the key evaluation metric from consolidated profit levels to consolidated return on equity. The change, effective from the 1...
Toho Bank Reshapes Board With New Outside Directors and Audit Committee Member
May 15, 2026
The Toho Bank, Ltd. has announced provisional changes to its board, including the appointment of former Fukushima vice-governor Toshiyuki Hata as a new outside director, replacing outgoing outside director Hideya Takashima. These changes are sched...
Toho Bank Doubles Dividend and Raises Long-Term Payout Target
May 15, 2026
The Toho Bank, Ltd. has resolved to increase its year-end dividend for the fiscal year ended March 31, 2026, to 10 yen per share, up from a previous forecast of 9 yen and doubling the prior year’s 5 yen, bringing the total annual dividend to...
Toho Bank Delivers Strong FY2026 Earnings and Hikes Dividend as Capital Base Strengthens
May 15, 2026
Toho Bank reported a strong set of consolidated results for the fiscal year ended March 31, 2026, with ordinary income rising 31.3% to ¥92.47 billion and profit attributable to owners of the parent climbing 65.9% to ¥12.35 billion. Profi...
Toho Bank Overhauls Top Management Ahead of June Shareholders’ Meeting
Mar 6, 2026
Toho Bank has announced a broad reshuffle of its top management, including the appointment of Senior Managing Director Takashi Sekine, currently a Managing Executive Officer, as the new Representative Director, pending formal approval at the June ...
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.