Seven Bank (8410): FY2025 Results Summary — Record Ordinary Income as ATM Transactions Hit a New High

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Seven Bank, Ltd. reported consolidated ordinary income of ¥220.0 billion for FY2025, the fiscal year ended March 31, 2026, up 2.6% year on year, while consolidated ordinary profit edged down 0.3% to ¥30.1 billion. The company states that both consolidated and non-consolidated results showed record-high ordinary income but lower ordinary profit. Net income attributable to owners of the parent fell 26.3% to ¥13.4 billion, which the company attributes to extraordinary losses recorded for the credit card business. The total number of domestic ATM transactions reached a record high of 1,122 million.

Consolidated Results (Full-Year Actual)

The company explains that ordinary income increased primarily owing to the performance of Seven Bank (non-consolidated), that ordinary profit declined primarily due to the performance of Seven Card Service but delivered results above the plan, and that net income substantially declined due to extraordinary losses recorded for the credit card business. Ordinary profit came in 11.4% above plan and net income 21.8% above plan. EBITDA, defined in the materials as ordinary profit plus depreciation and amortization, rose 2.8% to ¥61.1 billion.

Item	FY2025 results	FY2024 results	YoY	vs. plan
Ordinary income	¥220.0 billion	¥214.4 billion	+2.6%	+1.8%
Ordinary expenses	¥189.8 billion	¥184.1 billion	+3.0%	+0.4%
Ordinary profit	¥30.1 billion	¥30.2 billion	(0.3)%	+11.4%
Net income attributable to owners of the parent	¥13.4 billion	¥18.2 billion	(26.3)%	+21.8%
EBITDA	¥61.1 billion	¥59.4 billion	+2.8%	–
Extraordinary items (Billion yen)	(8.6)	(1.4)	(7.2)	–

On a Seven Bank non-consolidated basis, ordinary income rose 5.3% to ¥142.9 billion and net income rose 2.2% to ¥18.0 billion, while ordinary profit fell 2.5% to ¥26.6 billion. The company states that non-consolidated ordinary income increased owing to the growth of personal loans and the steady performance of the ATM transactions, and that ordinary profit decreased mainly due to depreciation expenses associated with ATM replacement and increased funding costs due to changes in the interest rate environment. The exchange rates used in the consolidated income statement were $1 = ¥151.69 for FY2024 and $1 = ¥149.61 for FY2025.

Domestic ATM Business: Key Figures

The total number of ATM transactions for the fiscal year was 1,122 million transactions, an increase of 33 million transactions year on year, and daily average transactions per ATM were 109.2, up 1.2 transactions. Of the FY25 total, transactions for deposit-taking financial institutions were 752 million and transactions for non-banks, etc. were 369 million. The number of ATMs at the end of the fiscal year was 28,536 units, up 546 units, comprising 23,179 units at Seven-Eleven stores (+209 units) and 5,357 units at non-Seven-Eleven stores (+337 units). ATM-related fee income was ¥116.0 billion and ATM-related fee income per transaction was ¥105.7 for FY25.

Item (Seven Bank non-consolidated)	FY2024	FY2025	YoY change	FY2026 plan (Full year)
Ordinary income (Billion yen)	135.7	142.9	7.2	149.0
ATM-related fee income (Billion yen)	113.4	116.0	2.6	118.0
Ordinary profit (Billion yen)	27.3	26.6	(0.7)	25.0
Net income (Billion yen)	17.6	18.0	0.4	17.0
No. of ATMs installed at end of term (units)	27,990	28,536	546	29,404
ATM-related fee income per transaction (yen)	106.5	105.7	(0.8)	105.7
Daily average transactions per ATM (transactions/ATM/day)	108.0	109.2	1.2	108.3
Total number of transactions (million)	1,089	1,122	33	1,139

The materials note that ATM installation at FamilyMart is scheduled to begin in early summer 2026, with approx. 16,000 units planned to be installed over about four years. On the company’s domestic ATM market share chart, Seven Bank accounted for 15.7% of an estimated 175,000 units in Japan as of March 31, 2026, and is shown at 32.6% of 138,000 units as of March 31, 2030 based on the company’s plan.

Domestic Retail Business

The number of accounts reached 3,500,000 accounts, an increase of 141,000 accounts year on year, and the balance of deposits was ¥652.4 billion, up ¥44.6 billion. The personal loan services balance at the end of the fiscal year was ¥79.2 billion, an increase of ¥18.7 billion. The company states that the deposit balance met the plan, while the loan balance fell slightly short of the plan. For Seven Card Service, the FY25 KPIs were 308 (10,000 people) card holders, shopping transaction value using credit cards of 763.7 billion yen, a financial product balance of 45.1 billion yen, 8,470 (10,000 people) e-money members and e-money transactions value of 1,457.4 billion yen.

Item (Seven Card Service, Million yen)	FY2024	FY2025	YoY change	FY2026 plan (Full year)
Ordinary income	32,529	30,670	(1,859)	30,395
Credit card business	15,052	14,631	(421)	15,440
e-money business	17,476	16,039	(1,437)	14,955
Ordinary profit	2,694	(591)	(3,285)	(465)
Net income	830	(5,817)	(6,647)	(3,530)

Overseas Business

The total number of overseas ATM transactions for the fiscal year was 529.7 million transactions, down 3.1 million transactions year on year. The company explains that although the transactions in the U.S. increased, the overall transactions decreased due to the decrease in the transactions in Indonesia and the Philippines. By country, FCTI (U.S.) handled 157.4 million transactions, ATMi (Indonesia) 147.7 million, PAPI (Philippines) 218.4 million and RFMY (Malaysia) 6.1 million. The company states that the U.S. business significantly exceeded the plan and recorded a profit, while Indonesia and the Philippines fell short of their targets in the numbers of transactions and ATMs, and that Malaysia achieved profitability for the first year.

Overseas company	Metric	FY2024	FY2025	FY2026 plan (Full year)
FCTI (U.S., Million USD)	Ordinary income	177.7	182.3	225.5
FCTI (U.S., Million USD)	Ordinary profit	(3.0)	15.9	16.5
FCTI (U.S.)	No. of ATMs installed at end of term (units)	8,332	9,567	11,825
ATMi (Indonesia, Million yen)	Ordinary income	8,446	7,530	6,920
ATMi (Indonesia, Million yen)	Ordinary profit	936	937	690
ATMi (Indonesia)	No. of ATMs (units)	9,312	9,073	9,283
Pito AxM Platform (Philippines, Million yen)	Ordinary income	8,151	8,552	10,280
Pito AxM Platform (Philippines, Million yen)	Ordinary profit	306	439	550
Pito AxM Platform (Philippines)	No. of ATMs (units)	3,515	4,009	4,409

For the U.S., ordinary income for FY25 was ¥27.28 billion and ordinary profit was ¥2.38 billion, with 10,465 units as of March 31, 2026 (preliminary data). Indonesia posted ordinary income of ¥7.53 billion and ordinary profit of ¥0.93 billion with 9,100 units (preliminary data), and the Philippines posted ordinary income of ¥8.55 billion and ordinary profit of ¥0.43 billion with 4,104 units (preliminary data). In Malaysia, the number of ATMs at the end of term was 98 units in FY25 against a FY26 plan of 500 units, with average transactions per ATM of 216.6 transactions in FY25 and 192.7 transactions planned for FY26.

FY2026 Forecast

For FY2026, the fiscal year ending March 31, 2027, Seven Bank forecasts consolidated ordinary income of ¥235.5 billion, up 7.0%, and consolidated ordinary profit of ¥29.5 billion, down 1.9%. Net income attributable to owners of the parent is forecast at ¥17.0 billion, up 26.8%. The materials note that for FY2026 the company expects to record an extraordinary loss of 3.5 billion yen due to an impairment in its credit card business, and that the assumed exchange rate for the FY2026 plan is $1 = ¥154.00.

Item	FY2025 results	FY2026 forecasts	YoY
Consolidated ordinary income	¥220.0 billion	¥235.5 billion	+7.0%
Consolidated ordinary expenses	¥189.8 billion	¥206.0 billion	+8.5%
Consolidated ordinary profit	¥30.1 billion	¥29.5 billion	(1.9)%
Net income attributable to owners of the parent	¥13.4 billion	¥17.0 billion	+26.8%

Shareholder Returns

Under its basic policy for shareholder returns for FY2026–FY2028, Seven Bank states that it will provide stable and consistent shareholder returns, primarily through dividends, and maintain a dividend payout ratio of 40% or higher, while also taking the absolute dividend amount into consideration. The company describes this shareholder return policy as unchanged. The dividend forecast for FY2026 is an annual dividend of ¥11, consisting of ¥5.50 per share at the interim and ¥5.50 per share at year-end, implying a payout ratio of 75.5% on the FY2026 forecast and a dividend yield of 4.11% based on the FY2026 dividend forecast and the closing price on May 1, 2026.

Item	FY2026 dividend forecast
Annual dividend	¥11
Interim	¥5.50 per share
Year-end	¥5.50 per share
Payout ratio (FY2026 forecast)	75.5%
Dividend yield	4.11%

Three-Year Outlook (FY2026–FY2028)

Seven Bank presents FY2028 targets of ordinary income of ¥280.0 billion, ordinary profit of ¥40.0 billion and ROE of 8% or higher, positioning FY2026 (plan: ordinary income ¥235.5 billion, ordinary profit ¥29.5 billion) as a step toward a return to revenue and profit growth driven by top-line expansion and improved profit margin and efficiency. Key initiatives listed include installing ATMs at FamilyMart stores, increasing ATM-related fee income (planned from FY2027), prioritising profitability in the credit card business, and country-specific overseas strategies covering Speedway installations in the U.S., business model transformation in Indonesia, partner and service expansion in the Philippines and unit expansion in Malaysia. Reviewing the previous Medium-Term Management Plan (FY2021–FY2025), the company describes advanced diversification despite missed financial targets: domestic ATMs installed rose from 25,676 units in FY2020 to 28,536 units in FY2025, total ATM transactions from 0.83 billion to 1.12 billion, accounts from 2.36 million to 3.50 million, deposits from ¥519.0 billion to ¥652.4 billion and the loan balance from ¥24.3 billion to ¥79.2 billion.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.