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Internet-only bank in Japan, part of the Rakuten e-commerce/internet group.
Internet-only bank in Japan, part of the Rakuten e-commerce/internet group.
Takes deposits from Rakuten's customer base and lends them out as mortgages and card loans or invests in bonds, living on the spread, with fees from payments and foreign exchange adding to it. Accounts are tied to Rakuten Card and Rakuten Securities, which supply customers and cheap deposits.
In one line: Japan's Chime/SoFi-style banking arm.
Moat: narrow (network effects, distribution, brand). Cross-sell through Rakuten's e-commerce and points ecosystem drives low-cost customer acquisition.
Headquarters: Tokyo, Japan · Founded: 2000 · Employees: 1,186
Size Rakuten Bank (5838.T) is a Japan Financials company (Regional Banks) with a market value of $6.36B, the 198th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,750 on 6 Nov 2026.
Performance Over six months the shares fell 8.8%, against +4.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 37.5% over the last twelve months (peer median +4.1%); the operating margin is 55.2% (peer median 44.3%).
Valuation It trades at 2.55× book value against a peer median of 1.32× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 8.1%; Rakuten Bank delivers 21.5%, so the price asks less than the business earns today.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥276B | ¥255B | ¥184B | ¥137B | ¥120B |
| Revenue growth | — | +39% | +34% | +14% | — |
| Net income | ¥77.2B | ¥73.1B | ¥50.8B | ¥34.4B | ¥27.7B |
| Free cash flow | n/a | ¥52.3B | ¥62.8B | -¥405B | -¥418B |
| Capital expenditure | n/a | ¥18.9B | ¥14.0B | ¥9.37B | ¥7.81B |
| Total debt | ¥2.27T | ¥2.85T | ¥2.78T | ¥2.59T | ¥2.29T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Rakuten Bank 5838.T | $6.36B | -9% | +38% | 22% | 2.55× | 8.1% |
| KakaoBank 323410.KS | $7.28B | -15% | +6% | 7% | 1.46× | 8.5% |
| Japan Post Bank 7182.T | $65.5B | +7% | +39% | 7% | 1.11× | 8.3% |
| Resona 8308.T | $30.8B | +9% | +17% | 9% | 1.57× | 8.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 5838.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | +1.5% | 5th lowest of 21 |
| 6-month return | -8.8% | +4.2% | 4th lowest of 21 |
| Return on equity | 21.5% | 10.5% | highest of 21 |
| Price / book | 2.55× | 1.32× | 4th most expensive of 21 |
| Trailing P/E | 13.0× | 13.1× | 10th cheapest of 20 |
| ROE the price implies | 8.1% | 9.6% | 7th least demanding of 21 |
| ROE delivered | 21.5% | 10.7% | highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Rakuten Bank 5838.T | Japan | $6.36B | -9% | +38% | 22% | 2.55× | 8.1% | 21.5% |
| Bank of Suzhou 002966.SZ | China | $6.41B | +12% | +5% | 11% | 0.79× | 2.8% | 10.9% |
| Ringkjobing Landbobank A/S RILBA.CO | Denmark | $6.44B | +16% | +2% | 20% | 3.58× | 10.2% | 20.5% |
| Glacier Bancorp GBCI | United States | $6.27B | -1% | +21% | 9% | 1.45× | 11.2% | 8.8% |
| Hachijuni Nagano Bank 8359.T | Japan | $6.53B | +6% | +20% | 7% | 0.85× | 5.6% | 6.5% |
| United Bankshares UBSI | United States | $6.57B | +11% | +4% | 9% | 1.20× | 9.7% | 9.4% |
| BNP Paribas Bank Polska Spolka Akcyjna BNP.WA | Poland | $6.65B | +20% | -8% | 16% | 1.59× | 14.8% | 16.2% |
| Bank of Changsha 601577.SS | China | $6.03B | 0% | -9% | 11% | 0.52× | 2.8% | 11.1% |
| Qilu Bank 601665.SS | China | $6.02B | +2% | +1% | 12% | 0.75× | 3.2% | 12.2% |
| Home BancShares HOMB | United States | $5.97B | +12% | +2% | 11% | 1.31× | 10.2% | 11.1% |
| Gunma Bank 8334.T | Japan | $5.78B | +11% | +22% | 10% | 1.43× | 7.8% | 10.3% |
| Bank Millennium MIL.WA | Poland | $7.04B | +26% | -2% | 16% | 2.80× | 38.0% | 15.6% |
| IDFC First Bank IDFCFIRSTB.NS | India | $7.05B | +10% | +13% | 6% | 1.35× | 24.3% | 6.3% |
| Hancock Whitney HWC | United States | $5.73B | +4% | -1% | 9% | 1.34× | 12.2% | 9.4% |
| Kyoto Financial Group,Inc 5844.T | Japan | $7.14B | -11% | +19% | 8% | 0.79× | 5.9% | 7.9% |
| Iyogin Holdings,Inc 5830.T | Japan | $5.61B | -3% | +13% | 8% | 0.91× | 8.2% | 7.8% |
| KakaoBank 323410.KS | South Korea | $7.28B | -15% | +6% | 7% | 1.46× | 8.5% | n/a |
| Bank OZK OZK | United States | $5.53B | +4% | 0% | 11% | 0.93× | 8.9% | 11.3% |
| Atlantic Union Bankshares AUB | United States | $5.51B | +4% | +21% | 11% | 1.09× | 9.5% | 10.7% |
| Ameris Bancorp ABCB | United States | $5.49B | -5% | +3% | 9% | 1.33× | 12.1% | 9.5% |
| AU Small Finance Bank AUBANK.NS | India | $7.39B | -10% | +17% | 16% | 3.21× | 44.0% | 15.7% |