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← CockpitCompetitor Analysis › 8304.T Aozora BankOpen in the cockpit ↗

Aozora Bank8304.TCompetitor analysis, valuation and peers

Japan · JPY·Financials›Investment Banks/Brokers

Japanese bank focused on corporate and wholesale banking, rebuilt from the former Nippon Credit Bank.

≈ A smaller, corporate-focused Japanese regional-style bankMomentum neutral 51
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$2.60B
US dollars, full cap
Free float
75%
of shares outstanding
$/day
$20.7M
20-day average traded
Fwd P/E
14.4×
forward earnings
ROIC−WACC
n/a
WACC 5.0%
Hurdle
n/a
no reverse DCF
Next earnings
5 days
11 Nov 2026
Close · JPY¥2,959
1D-4.0%
1W-3.0%
1M-14.2%
3M-7.9%
6M+17.5%
YTD+19.1%
1Y+31.0%
ATR %3.3%
52w lowhigh17.6% off high

What Aozora Bank does

Japanese bank focused on corporate and wholesale banking, rebuilt from the former Nippon Credit Bank.

Earns mostly interest on loans to companies and real estate investors, plus fees for arranging financing and structured deals. With few branches, it leans more on wholesale and bond-market funding than on a deposit network. The bank was rebuilt after the 1998 failure of Nippon Credit Bank.

In one line: A smaller, corporate-focused Japanese regional-style bank.

Products and services

  • Corporate lending
  • Real estate finance
  • Retail banking/deposits
  • Asset management

Customers

  • Mid-size and large corporates
  • Real estate investors
  • Retail depositors

Where it sits in the supply chain

  • Financials
  • Corporate banking
  • Corporate lending, real estate finance…

What could go right

  • Real estate/corporate loan demand
  • Rising domestic interest rates

What could go wrong

  • Credit risk in real estate lending
  • Interest rate/funding cost risk

Moat: narrow (regulatory licence, scale). Banking licence and balance-sheet scale support lending, but faces megabank and regional bank competition.

Headquarters: Tokyo, Japan · Founded: 1957 · Employees: 2,515

Named competitors

Aozora Bank at a glance

Size Aozora Bank (8304.T) is a Japan Financials company (Investment Banks/Brokers) with a market value of $2.60B, the 402nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,959 on 6 Nov 2026.

Performance Over six months the shares gained 17.5%, against -12.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 20 in its peer set.

Growth Revenue grew 12.4% over the last twelve months (peer median +13.0%); the operating margin is 28.9% (peer median 32.5%).

Valuation It trades at 14.4× forward earnings against a peer median of 13.1× (8th most expensive of 16).

Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).

Relative performance

10012014011 May 202611 Aug 20266 Nov 20268304.T 117Peer median 88
Six months, rebased to 100: Aozora Bank against the median of its 20 peers (local-currency closes).

Aozora Bank financials

Reported figures in JPY; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue¥245B¥233B¥223B¥223B¥166B
Revenue growth—+4%0%+34%—
Net income¥30.9B¥25.7B¥20.5B-¥49.9B¥8.72B
Free cash flown/a¥117B¥67.3B-¥225B-¥137B
Capital expendituren/a¥7.26B¥6.08B¥7.48B¥5.99B
Total debt¥1.31T¥1.31T¥1.23T¥1.04T¥948B

Quarterly statements and history in the cockpit →

Aozora Bank competitor charts

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.

Performance: 6-month against 1-month return

0%+50%-10%0%+10%CMCX0622000686002500FTK600927U102855002670CDSLTCAP002926TATAINVESTPLUSANGELONE33508304.T6-month return →1-month return →
Up and to the right = strong over both horizons. Aozora Bank is the large dot.

Fundamentals: revenue growth against valuation

-150%-100%-50%0%+50%20×40×CMCXLCLN000686002500FTK600927CFTU10CDSLTCAP601375600390ANGELONE8304.TRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Aozora Bank is the large dot.

Aozora Bank competitors and peer comparison

Head to head with its named competitors (8304.T vs 8308.T vs 8309.T vs 8411.T)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Aozora Bank 8304.T$2.60B+17%+12%29%14.4×n/a
Resona 8308.T$30.8B+9%+17%35%13.9×n/a
Sumitomo Mitsui Trust Gp 8309.T$27.4B+38%+5%22%10.7×n/a
Mizuho Financial 8411.T$110B+7%+6%37%11.8×n/a
Sumitomo Mitsui Financial 8316.T$145B+35%+11%39%12.2×n/a
Mitsubishi Ufj Financial 8306.T$230B+14%+11%37%12.6×n/a

How Aozora Bank compares with its peers

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.

Aozora Bank against its 20 peers (data as of 6 Nov 2026)
Measure8304.TPeer medianRank in peer set
1-month return-14.2%-2.9%4th lowest of 21
6-month return+17.5%-12.2%4th highest of 20
Distance from 52-week high-17.6%-24.5%6th highest of 21
Revenue growth (TTM)+12.4%+13.0%11th highest of 21
Operating margin28.9%32.5%9th lowest of 20
Forward P/E14.4×13.1×8th most expensive of 16

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Aozora Bank 8304.TJapan$2.60B+17%+12%29%14.4×n/an/a
CMC Markets CMCX.LUnited Kingdom$2.54B+79%+16%27%10.5×n/an/a
Lincoln International LCLNUnited States$2.65Bn/a+35%28%18.3×n/an/a
Oshidori International 0622.HKHong Kong$2.67B+52%+71%47%n/an/an/a
Northeast Securities 000686.SZChina$2.52B-17%+1%23%11.1×n/an/a
Shanxi Securities 002500.SZChina$2.73B-10%-3%28%16.4×n/an/a
flatexDEGIRO FTK.DEGermany$2.78B-27%+20%45%11.1×n/an/a
Yongan Futures 600927.SSChina$2.83B-12%-139%n/a24.3×n/an/a
Compagnie Financiere Tradition CFT.SWSwitzerland$2.37B-15%+3%14%13.1×n/an/a
UOB-Kay Hian U10.SISingapore$2.36B-29%+36%42%9.4×n/an/a
President Securities 2855.TWTaiwan$2.34B+24%+796%32%n/an/an/a
Guosheng Securities 002670.SZChina$2.92B-20%-11%11%n/an/an/a
Central Depository Services (India) CDSL.NSIndia$2.95B+5%+3%50%52.1×n/an/a
TP ICAP TCAP.LUnited Kingdom$2.97B-1%+4%11%8.9×n/an/a
HUAXI Securities 002926.SZChina$3.01B-12%+10%36%11.4×n/an/a
Tata Investment TATAINVEST.NSIndia$3.06B-22%+18%89%n/an/an/a
Central China Securities 601375.SSChina$2.19B-6%+35%32%29.3×n/an/a
Plus500 PLUS.LUnited Kingdom$3.12B-26%+3%41%10.4×n/an/a
Minmetals Capital 600390.SSChina$3.15B-11%-62%60%51.9×n/an/a
Angel One ANGELONE.NSIndia$3.20B+3%+21%28%23.1×n/an/a
Metaplanet 3350.TJapan$2.05B-27%+290%62%n/an/an/a

Questions

Who are Aozora Bank's main competitors?
Named competitors: Shinsei Bank (SBI Shinsei) (private or unlisted), Resona Holdings (8308.T), Sumitomo Mitsui Trust (8309.T), Mizuho Financial Group (8411.T), Sumitomo Mitsui Financial Group (8316.T), Mitsubishi UFJ Financial Group (8306.T). The cockpit's measured peer set (industry) also includes CMC Markets (CMCX.L), Lincoln International (LCLN), Oshidori International (0622.HK), Northeast Securities (000686.SZ), Shanxi Securities (002500.SZ), flatexDEGIRO (FTK.DE).
Is Aozora Bank expensive compared with its peers?
On forward p/e it trades at 14.4× against a peer median of 13.1×, 8th most expensive of 16 in its peer set.
How has Aozora Bank stock performed?
Over six months to 6 Nov 2026 the shares returned +17.5% against -12.2% for the median peer; over one year +31.0%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.