Seven Bank, Ltd.
8410・Prime Market・Banks
Business
The Seven Bank Group is one of Japan's largest ATM operators, deploying 28,536 ATMs domestically (as of the end of March 2026) primarily at Seven-Eleven and other stores, and providing ATM services to 696 partner financial institutions. As a bank, it also offers financial services such as ordinary deposits, time deposits, retail loans, and international remittances, with the number of individual accounts reaching 3,500 thousand. Its consolidated subsidiary Seven Card Service operates the credit card "Seven Card Plus" and the Electronic Money "nanaco" (with 84.70 million members), and the group also operates ATM businesses in four countries: the US, Indonesia, the Philippines, and Malaysia. Its main customers are domestic and overseas financial institutions, convenience store users, and individual depositors, and it plays a social role as payment infrastructure.
Business Model
The main revenue source is ATM acceptance fees from partner financial institutions and others (ATM-related operations of ¥159,240 million account for the majority of fee and commission income of ¥200,981 million), meaning that revenue is directly linked to the expansion of the number of installed ATMs and usage volume. In addition, revenue is layered through personal card loans (balance of ¥90,843 million), investment income from time deposits and other instruments, the Seven Bank Deferred Payment Service (transaction volume of ¥103.5 billion), and overseas ATM operating income (ordinary income of ¥43,602 million). Through capital expenditure (¥26,531 million for the current period), the company maintains and expands its ATM network, pursuing a structure that seeks economies of scale.
Company Strengths
As of the end of March 2026, the company had 28,536 domestic ATMs installed (up 1.9% year on year) and 696 partner financial institutions, operating in principle 24 hours a day, 365 days a year. Total ATM transaction volume was 1,122 million transactions (up 3.0% year on year), maintaining a high utilization rate with an average of 109.2 transactions per unit per day, forming a physical network asset that competitors would find difficult to replicate in a short period.
The company completed the full replacement of all ATMs with 4th-generation units, a process that had been underway since September 2019, by the end of March 2025. It has rolled out the "+Connect" service, which utilizes identity verification and scanning functions, and has established the foundation to evolve ATMs from a cash platform into a service platform. In March 2026, the company signed an ATM installation agreement with FamilyMart and plans to install approximately 16,000 additional units over roughly four years.
The company had 84.70 million members of Electronic Money "nanaco" (up 1.6% year on year), 3,500 thousand personal deposit accounts (up 4.1% year on year), and a retail deposit balance of ¥652,400 million (up 7.3% year on year). The continuity of customer touchpoints, underpinned by a long-term ATM installation agreement with Seven-Eleven (automatically renewed every five years), serves as the foundation for expanding the retail financial business.
ENVALITH's Perspective
Performance Trend
Ordinary revenue increased for five consecutive periods, from ¥136,667 million in FY2022 (ending March 2022) to ¥220,025 million in FY2026 (ending March 2026). In FY2026, growth decelerated to a 2.6% year-on-year increase, driven by ATM acceptance fees (¥159,240 million, up 1.8% year on year) and interest income on fund management (¥15,866 million, up 43.1% year on year), the latter reflecting the external factor of rising interest rates. Meanwhile, profit attributable to owners of parent, which peaked at ¥31,970 million in FY2024 (ending March 2024), declined significantly for two consecutive periods to ¥13,476 million in FY2026. This was mainly due to an impairment loss of ¥8,456 million in the Credit Card and Electronic Money Business in FY2026. An increase in depreciation expenses (¥30,980 million) associated with the renewal of fourth-generation ATMs also weighed on ordinary income, with the ordinary income margin continuing its declining trend at 13.7% (versus 14.1% in the previous period).
Growth Strategy
Concretizing a second phase of growth through three pillars: ATM service platformization, expansion of financial retail services, and overseas expansion
Building on the completion of the full replacement of ATMs with the 4th-generation model (end of March 2025), the company has begun offering "+Connect," which enables ATMs to accept various procedures from financial institutions and other entities. By evolving ATMs from a cash platform into a service platform, the company aims to diversify fee revenue and enhance added value.
Continued high growth was maintained, with retail loan balances of ¥79.2 billion (up 30.8% year on year), 3,500 thousand personal accounts (up 4.1% year on year), and Seven Bank Deferred Payment Service transaction volume of ¥103.5 billion (up 35.5% year on year). The company aims to expand fund management income, aided by the tailwind of a rising interest rate environment.
The company is actively expanding the number of installed ATMs in the US (9,583 units, up 15.0% year on year) and the Philippines (4,009 units, up 14.0% year on year). In January 2025, it began new operations in Malaysia (98 units). The Overseas Business segment recorded ordinary income of ¥43,602 million and ordinary profit of ¥3,583 million. A revision to the useful life of ATMs at certain overseas subsidiaries (from 5 years to 8 years) also resulted in a reduction in depreciation expense (¥583 million).
In September 2025, the company entered into a capital and business alliance agreement with ITOCHU Corporation and carried out a disposal of treasury shares through a third-party allotment. As a result, ITOCHU Corporation's voting rights ratio exceeded 20%, making it an other affiliated company. Seven & i Holdings ceased to be the parent company, and the company aims to create business synergies under the new shareholder structure.
Last updated: July 19, 2026