TOMONY Holdings, Inc.
8600・Prime Market・Banks
Business
Tomoni Holdings is a financial holding company (with 10 consolidated subsidiaries) with The Tokushima Taisho Bank, Ltd. and The Kagawa Bank, Ltd. as its two core subsidiaries. Operating primarily in Tokushima and Kagawa prefectures, the group conducts Banking Business—including deposits, lending, foreign exchange, and securities investment—as its core operations. In addition, it offers peripheral financial services such as Leasing Business (Tomoni Lease), Credit Card Business (Tomoni Card), Venture Capital Business, and GX & Regional Revitalization Business, with regional SMEs and individual customers as its main client base. Since its establishment in April 2010, the group has strengthened its foundation as a wide-area financial group, notably through the formation of The Tokushima Taisho Bank in 2020 and its transition to the Prime Market in 2022.
Business Model
Deposits raised from customers (¥4,579,488 million on a bank-combined basis) are used to fund lending to SMEs and individuals (¥3,856,139 million on a bank-combined basis) and securities investment (¥773,217 million on a consolidated basis), generating fund management income from the deposit-lending interest margin. This is supplemented by fee-based services income (¥14,148 million on a consolidated basis) and gains on sales of equities, forming a multi-layered revenue structure. Through collaboration with group companies, the company also provides peripheral services such as leasing, credit cards, and venture capital, and aims to expand its fee income base through total assets in custody (¥5,051,555 million on a bank-combined basis).
Company Strengths
In FY2026 (ending March 2026), the final year of the 5th Medium-Term Management Plan, the Company exceeded its plan across all indicators of profitability, efficiency, soundness, and growth: profit attributable to owners of parent of ¥16.1 billion (plan: ¥14.8 billion), core net business income of ¥33.0 billion (plan: ¥22.3 billion), core business profit of ¥20.0 billion (plan: ¥14.1 billion), deposits balance of ¥4,720.3 billion (plan: ¥4,500.0 billion or more), and loans balance of ¥3,856.1 billion (plan: ¥3,600.0 billion or more).
The combined bank OHR based on core gross business profit was 50.55% (down 3.80 percentage points year on year), significantly surpassing the plan target of 60% or below. Tokushima Taisho Bank's core net business income was ¥18,724 million (up ¥3,181 million year on year), while Kagawa Bank's was ¥14,281 million (up ¥1,918 million year on year), with both banks improving their core business earning power, leading to steady improvement in the Group's overall revenue efficiency.
Through its two-bank structure of Tokushima Taisho Bank and Kagawa Bank, the Group maintains a wide-area business network spanning both Tokushima and Kagawa Prefectures. On a combined bank basis, total assets in custody reached ¥5,051,555 million (up ¥202,044 million from the end of the previous fiscal year), and the loans balance steadily expanded to ¥3,856,139 million (up ¥157,882 million from the end of the previous fiscal year). The Group also maintains a sound financial base, with a consolidated capital adequacy ratio of 9.45% (domestic standard).
ENVALITH's Perspective
Performance Trend
Ordinary income increased 49% over five periods, from ¥70,335 million in FY2022 to ¥104,775 million in FY2026, with FY2026 (ending March 2026) growth accelerating to a ¥9,668 million increase (up 10.1%) year on year. The main external driver was a ¥8,611 million year-on-year increase in interest on loans, reflecting the Bank of Japan's policy rate hikes. Meanwhile, profit attributable to owners of parent was ¥16,163 million (up ¥331 million, or 2.0%, year on year), with the pace of profit growth narrowing. Credit-related expenses surged to ¥9,531 million (up ¥5,839 million year on year), and a provision for allowance for loan losses of ¥7,958 million weighed on profit growth. Comprehensive income increased 110.4% year on year to ¥18,560 million, supported by improvement in remeasurements of defined benefit plans (¥1,553 million) and improvement in valuation difference on available-for-sale securities (¥732 million). For the next fiscal period, the company forecasts ordinary income of ¥26,600 million (up 9.1%) and net income of ¥17,850 million (up 10.4%), and if the normalization of credit costs is realized, an acceleration in profit growth is expected.
Growth Strategy
Under the 6th Medium-Term Management Plan, the company is promoting evolution into a wide-area financial group while leveraging changes in the interest rate environment and strengthening shareholder returns.
Against the backdrop of the Bank of Japan's policy rate hikes, interest on loans is expected to increase by ¥7,650 million year on year in the next fiscal year (an increase of ¥8,000 million after deducting foreign currency funding costs). The policy is to increase loan balances while improving yields, while maintaining the improved deposit-lending margin (0.58% for the bank on a combined all-branch basis).
The company is expanding total assets in custody, including investment trusts, life insurance, and public bonds (¥5,051,555 million on a combined bank basis), and promoting diversification of non-interest income through increased fee-based services income. Expansion of business revitalization support, GX-related business, and the Venture Capital Business is also being pursued in parallel.
The plan is to normalize credit-related expenses, which surged to ¥9,531 million in FY2026 (ending March 2026), to ¥4,000 million in the next fiscal year (a decrease of ¥5,531 million year on year). The aim is to achieve both improvement in the condition of debtors through support for business restructuring and management improvement of small and medium-sized enterprises, and maintenance of an appropriate level of provisions.
The company has announced a policy of phased increases toward a payout ratio of 35% or more and a total return ratio of 40% or more by FY2029. For FY2026 (ending March 2026), the annual dividend is expected to be ¥26 (payout ratio of 31.0%, total return ratio of 37.1%), and for the next fiscal year, ¥30 (payout ratio of 32.2%), marking a sixth consecutive year of dividend increases. Efforts are being promoted toward management that is conscious of cost of capital and stock price.
While operating expenses in the next fiscal year are expected to increase by ¥1,100 million year on year due to base pay increases and system investment, the policy is to maintain improvement in the core gross business profit OHR (50.55% on a combined bank basis). The company is promoting operational efficiency through digitalization and investment in talent development in parallel, aiming to strengthen sustainable earning power.
Last updated: July 19, 2026