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Central bank for Japan's roughly 250 regional Shinkin credit-union-style banks, managing their pooled deposits and market operations.
Central bank for Japan's roughly 250 regional Shinkin credit-union-style banks, managing their pooled deposits and market operations.
Owned by the Shinkin banks it serves, so it acts as their central treasury: surplus deposits flow in and are invested in bonds, funds and foreign securities, with some lent back to members. Earnings depend more on investment returns than on loan growth. Its listed preferred certificates are a form of preferred equity, not ordinary shares.
In one line: A wholesale central bank for a nationwide credit-union network, akin to the US Federal Hom.
Moat: narrow (regulatory licence, scale, installed base). Sole central institution serving Japan's entire Shinkin bank network, a structurally protected wholesale role.
Headquarters: Tokyo, Japan · Founded: 1950 · Employees: 1,849
Size Shinkin Central Bank Pfd Subs Cert (8421.T) is a Japan Financials company (Major Banks) with a market value of $10.3B, the 135th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥186,000 on 6 Nov 2026.
Performance Over six months the shares fell 1.5%, against +2.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 46.8% over the last twelve months (peer median +3.8%); the operating margin is 19.6% (peer median 41.6%).
Valuation It trades at 1.02× book value against a peer median of 1.14× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 4.4%; Shinkin Central Bank Pfd Subs Cert delivers 3.0%, so the price asks more than the business earns today.
Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥839B | ¥662B | ¥482B | ¥427B | ¥372B |
| Revenue growth | — | +38% | +13% | +15% | — |
| Net income | ¥47.2B | ¥43.0B | ¥42.4B | ¥32.1B | ¥26.2B |
| Free cash flow | n/a | ¥230B | ¥910B | -¥229B | ¥27.8B |
| Capital expenditure | n/a | ¥10.3B | ¥19.1B | ¥10.6B | ¥13.0B |
| Total debt | ¥14.0T | ¥14.0T | ¥14.4T | ¥12.2T | ¥9.49T |
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 |
|---|---|---|---|---|---|---|
| Shinkin Central Bank Pfd Subs Cert 8421.T | $10.3B | -1% | +47% | 3% | 1.02× | 4.4% |
| Mitsubishi Ufj Financial 8306.T | $230B | +14% | +11% | 13% | 1.60× | 11.2% |
| Mizuho Financial 8411.T | $110B | +7% | +6% | 13% | 1.52× | 11.5% |
| Sumitomo Mitsui Financial 8316.T | $145B | +35% | +11% | 11% | 1.42× | 10.0% |
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 | 8421.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.5% | +2.8% | 5th lowest of 21 |
| 6-month return | -1.5% | +2.2% | 8th lowest of 21 |
| Return on equity | 3.0% | 10.5% | lowest of 21 |
| Price / book | 1.02× | 1.14× | 7th cheapest of 21 |
| Trailing P/E | 34.3× | 10.7× | most expensive of 21 |
| ROE the price implies | 4.4% | 10.4% | 5th least demanding of 21 |
| ROE delivered | 3.0% | 10.5% | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Shinkin Central Bank Pfd Subs Cert 8421.T | Japan | $10.3B | -1% | +47% | 3% | 1.02× | 4.4% | 3.0% |
| UMB Financial UMBF | United States | $10.2B | +2% | +17% | 14% | 1.34× | 11.2% | 13.5% |
| SouthState Bank SSB | United States | $10.1B | +8% | +18% | 10% | 1.11× | 9.3% | 10.3% |
| Zions Bancorporation NA Depositary Shs Repr 1/40th Int Ser A Flt Rt Non Cum Perp Pfd ZIONP | United States | $9.72B | -16% | +4% | 16% | 0.31× | 4.0% | 16.5% |
| Unicaja Banco UNI.MC | Spain | $9.53B | +20% | -3% | 10% | 1.34× | 12.2% | 10.1% |
| Old National Bancorp ONB | United States | $9.43B | +3% | +18% | 12% | 1.17× | 10.3% | 11.5% |
| China Zheshang Bank 601916.SS | China | $11.2B | -2% | -4% | 7% | 0.44× | 2.0% | 7.2% |
| AL Sydbank A/S ALSYDB.CO | Denmark | $9.20B | +37% | +27% | 10% | 1.78× | 6.3% | 9.6% |
| IDBI Bank IDBI.NS | India | $9.04B | +5% | +3% | 12% | 1.18× | 26.1% | 11.8% |
| Jyske Bank A/S JYSK.CO | Denmark | $9.02B | +25% | +3% | 10% | 1.32× | 5.3% | 10.3% |
| Canara Bank CANBK.NS | India | $11.8B | -10% | -7% | 17% | 0.87× | 17.1% | 16.8% |
| Federal Bank Ltd. (India) FEDERALBNK.NS | India | $8.81B | +14% | +11% | 13% | 1.97× | 27.7% | 13.1% |
| Huishang Bank 3698.HK | Hong Kong | $8.31B | -8% | +1% | 11% | 0.36× | 3.8% | 10.7% |
| Indian Bank INDIANB.NS | India | $12.9B | +5% | +12% | 16% | 1.40× | 18.5% | 16.1% |
| Shanghai Rural Commercial Bank 601825.SS | China | $13.1B | +1% | -8% | 10% | 0.65× | 2.5% | 9.6% |
| BOK Financial BOKF | United States | $7.87B | -2% | +3% | 11% | 1.33× | 10.6% | 11.2% |
| Fukuoka Financial 8354.T | Japan | $7.75B | 0% | +22% | 9% | 1.08× | 7.0% | 8.7% |
| Valley National Bancorp VLY | United States | $7.75B | +5% | +3% | 9% | 1.03× | 10.6% | 9.4% |
| Bank of Baroda BANKBARODA.NS | India | $13.7B | -7% | +8% | 12% | 0.74× | 13.2% | 11.8% |
| Mebuki Financial 7167.T | Japan | $7.57B | +6% | +25% | 9% | 1.16× | 6.2% | 9.2% |
| IndusInd Bank INDUSINDBK.NS | India | $7.48B | -4% | -2% | 5% | 1.04× | 17.8% | 4.5% |