Hachijuni Nagano Bank (8359): FY3/26 briefing: Improve ROE by 1% each year even as URG on equities expand

Research evidence excerpt

Hachijuni Nagano Bank (8359): FY3/26 briefing: Improve ROE by 1% each year even as URG on equities expand

Accessible version

Hachijuni Nagano Bank (8359)

FY3/26 briefing: Improve ROE by 1% each

year even as URG on equities expand

Maintain Rating: NEUTRAL | PO: 2,400 JPY | Price: 2,292 JPY

28 May 2026

May 28, 14:30 - Hachijuni Nagano Bank held their FY3/26 full-year earnings briefing. At

Equitythis briefing, the conservatism of the FY3/27 guidance was emphasized, and the

expressed willingness to improve ROE by 1% each fiscal year even as unrealized gains Yuji Kobayashi >>

on equities expand gives a somewhat positive impression. While it remains unchanged Research Analyst

BofAS Japan

that the ROE level and pace of improvement are not relatively superior versus our +81 3 6225 8791

coverage regional banks, we gained the impression that there remains some upside yuji.kobayashi@bofa.com

potential in ROE and NP levels from this fiscal year onward. Our earnings forecasts will Shinichiro Nakamura >>

Research Analyst

be revised as necessary based on interviews and other factors. Although there is BofAS Japan

significant upside potential versus the company guidance/our current forecasts for +81shinichiro.nakamura@bofa.com3 6225 8824

FY3/27 consolidated NP, the likelihood of strengthening shareholder returns is low, and

we maintain a Neutral rating. Key management messages are as follows.

(1) Willing to improve ROE by 1% each year even as the Stock Data

denominator expands due to unrealized gains on equities Price 2,292 JPY

The company’s FY3/27 guidance is consolidated NP of ¥73bn / ROE of 6.2%, implying Price Objective 2,400 JPY

net assets of ¥1,177.4bn. Management commented that they have not given up on Date Established 21-Apr-2026