Suruga Bank Ltd. (JP:8358)
:8358
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Suruga Bank
(8358)
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Rating:77Outperform
Price Target:
¥2,478.00
▲(38.44% Upside)
Action:ReiteratedDate:04/09/26
The score is driven primarily by strong financial performance (notably revenue growth and profitability) and a very low-leverage balance sheet, supported by bullish technicals with price above major moving averages. The main offset is weak cash flow quality (negative operating and free cash flows), while valuation is favorable with a low P/E and modest dividend yield.
Positive Factors
Strong Revenue Growth
Near 50% annual revenue growth indicates durable expansion of core lending and fee businesses, widening the earning base. Sustained top-line momentum supports net interest and fee income over months, improving capacity to absorb credit costs and fund strategic initiatives.
Negative Factors
Negative Operating and Free Cash Flows
Negative operating and free cash flows point to weak cash conversion of reported profits, signaling earnings quality and liquidity concerns. Persistent negative cash generation constrains the bank's ability to fund loan growth, dividends, or buffers without tapping external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Near 50% annual revenue growth indicates durable expansion of core lending and fee businesses, widening the earning base. Sustained top-line momentum supports net interest and fee income over months, improving capacity to absorb credit costs and fund strategic initiatives.
Read all positive factors
Suruga Bank (8358) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥437.47B
Dividend Yield2.12%
Average Volume (3M)798.45K
Price to Earnings (P/E)9.1
Beta (1Y)0.86
Revenue Growth22.55%
EPS Growth36.30%
CountryJP
Employees1,449
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)101.10
Shares Outstanding197,139,250
10 Day Avg. Volume862,000
30 Day Avg. Volume798,453
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)0.83
Price to Sales (P/S)3.34
P/FCF Ratio-1.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,500.00Price Target Upside39.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)190.76
Revenue Forecast (FY)¥66.90B
Suruga Bank Business Overview & Revenue Model
Company Description
Suruga Bank Ltd. provides various banking and financial products and services to individuals and corporate customers in Japan. The company offers deposit products, such as time, ordinary, savings, foreign currency, and other deposits, as well as c...
How the Company Makes Money
Suruga Bank makes money mainly through (1) net interest income and (2) fee-based income, with additional contributions from market-related income and other banking activities.
1) Net interest income (core earnings driver): The bank collects depos...
Suruga Bank Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 82.64B | 73.98B | 67.99B | 62.08B | 80.42B | 88.37B |
| Gross Profit | 78.91B | 73.68B | 69.22B | 63.26B | 64.06B | 80.59B |
| EBITDA | 23.14B | 30.80B | 24.80B | 17.60B | 14.83B | 28.43B |
| Net Income | 18.82B | 20.18B | 15.38B | 10.58B | 7.96B | 21.43B |
Balance Sheet | ||||||
| Total Assets | 3.51T | 3.46T | 3.56T | 3.64T | 3.59T | 3.55T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 693.36B | 982.20B | 1.04T | 874.18B | 953.93B |
| Total Debt | 0.00 | 32.00M | 80.00M | 115.00M | 35.00M | 6.00M |
| Total Liabilities | 3.21T | 3.17T | 3.27T | 3.37T | 3.33T | 3.26T |
| Stockholders Equity | 301.99B | 295.71B | 295.01B | 270.94B | 264.13B | 285.67B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -210.53B | 0.00 | 22.17B | 137.00B | 199.06B |
| Operating Cash Flow | 0.00 | -208.48B | 0.00 | 24.49B | 142.16B | 203.69B |
| Investing Cash Flow | 0.00 | -56.45B | 45.14B | 142.31B | -210.78B | -129.27B |
| Financing Cash Flow | 0.00 | -15.92B | -137.68B | -1.13B | -18.83B | 39.99B |
Suruga Bank Technical Analysis
Positive
1790.00
Price Trends
2042.63
Positive
1888.39
Positive
1668.35
Positive
Market Momentum
87.30
Negative
69.04
Neutral
86.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8358, the sentiment is Positive. The current price of 1790 is below the 20-day moving average (MA) of 2101.69, below the 50-day MA of 2042.63, and above the 200-day MA of 1668.35, indicating a bullish trend. The MACD of 87.30 indicates Negative momentum. The RSI at 69.04 is Neutral, neither overbought nor oversold. The STOCH value of 86.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8358.
Suruga Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥437.47B | 9.10 | 8.52% | 2.12% | 22.55% | 36.30% | |
76 Outperform | ¥376.00B | 9.60 | ― | 2.94% | 9.90% | 16.52% | |
72 Outperform | ¥370.88B | 10.18 | ― | 3.01% | 20.90% | 87.20% | |
68 Neutral | ¥472.68B | 11.65 | 3.95% | 2.19% | 12.38% | 17.62% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | ¥444.40B | 14.75 | ― | 1.50% | 21.64% | 43.65% | |
54 Neutral | ¥362.68B | 10.57 | 4.74% | 3.38% | 3.07% | ― |
* Financial Sector Average
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Suruga Bank Corporate Events
Suruga Bank Books Bond Sale Losses but Keeps Annual Profit Outlook Intact
Mar 26, 2026
Suruga Bank has disclosed that it will book securities-related losses for the fiscal year ending March 2026 as it continues to trim its bond portfolio, particularly long-term bonds carrying valuation losses. The bank expects full-year non-consolid...
Suruga Bank Wins ¥4.76 Billion Judgment Against Former Directors Over Founder-Linked Loans
Mar 15, 2026
Suruga Bank has secured a favorable ruling in its long‑running damages lawsuit over credit management issues involving companies tied to its founding family. The Shizuoka District Court, acting on remand from the Tokyo High Court, found four...
Suruga Bank Ex-Directors Appeal Ruling in Share House Loan Damages Case
Mar 3, 2026
Suruga Bank has disclosed that several former directors have appealed a court ruling that partially upheld the bank’s claims for damages linked to improper handling of share house-related loans. The appeal, filed with the Tokyo High Court on...
Suruga Bank lifts nine-month profit 30% and plans higher dividend
Feb 12, 2026
Suruga Bank reported strong results for the nine months to December 31, 2025, with ordinary income up 18.0% to ¥79.9 billion and profit attributable to owners surging 30.1% to ¥23.9 billion, lifting basic earnings per share to ¥135....
Suruga Bank Completes ¥15 Billion Share Buyback Program
Jan 23, 2026
Suruga Bank has completed a repurchase of its common shares under an authorization based on its Articles of Incorporation, fulfilling the share buyback program approved by its board of directors in May 2025. Between January 1 and January 19, 2026,...
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.