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8308.T
ACCE-researched

Resona Holdings, Inc. (8308.T) fair value

Financial Services · Banks - Regional · TSE · Japan
¥2141.50-3.10%
Market cap ¥4.78TNext earnings 2026-07-31Updated Oct 23, 2026
Our verdict
Trades 17% above our fair value
Price
¥2141.50
Model fair valueConfidence: medium
¥1824
Only one of our models could value this stock with confidence, so use it as a guide.
Not used by alerts or posts.
Valued as a bank: P/E comparison and Dividend discount.
ACCE opinionResona Holdings, Inc. (8308.T)
Fair value
Not available
ACCE price target
¥2113
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥2142 at the close on 23 Oct 2026, 08:30 CEST.
Models: Dividend discount and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
70
out of 100
P/E
19.4x
forward 24.3x
1-year return
+47.0%
Dividend yield
1.67%

Resona Holdings, Inc. in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Resona Holdings is the holding company for Resona Bank, a Japanese regional bank group built around retail deposits, mortgages and small and mid-sized business lending in the Kanto and Kansai areas. Its edge is a deep, low-cost retail deposit franchise plus a cleaned-up balance sheet after the 2003 public capital injection, which has left it with a more conservative risk profile than many domestic peers. The near-term story rests on Japan's rising rate environment, which lifts net interest income on a deposit base that has historically been cheap to fund. The stock trades at 19.9 times trailing earnings and 25.1 times forward earnings, so the market is pricing in earnings that are not yet visible, and the 15.8% revenue growth and 9.2% return on equity suggest the company still has to prove it can convert scale into returns. That gap between the multiple and the current ROE is the first thing to test before going further.

AI-assisted·How I use AIWritten Oct 23, 2026
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
  • moderate
    Revenue growth decelerating
    Five-year revenue CAGR is -2.3% against +15.8% year on year, so the recent jump may not be durable. Quarter on quarter revenue fell 3.8%.
  • moderate
    Trades above ACCE target
    The price of ¥2141.50 sits 1.3% above the ACCE price target of ¥2113.00, leaving little margin of safety against that estimate.

AI research notes

AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 15.8% year over year in the latest filings, a sharp reversal from a five-year average decline.
  • Net margin of 23.1% means Resona keeps a healthy share of each yen of revenue as profit.
  • Latest quarterly earnings beat expectations, with EPS of 35.79 against 34.93 expected, a 2.5% surprise.
Why it could disappoint
  • Return on equity of 9.2% is modest, and the stock's 25.1x forward P/E demands much stronger growth than that.
  • The five-year average revenue growth of -2.3% per year shows the recent rebound is not yet a sustained trend.
  • The ACCE price target of ¥2113.00 sits 1.3% below the current price of ¥2141.50, leaving little valuation cushion.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

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Valuation

INVESTOR
Where 8308.T's valuation models land
Price
¥2141.50
Model fair valueConfidence: medium
¥1824
Model
Fair value
Upside
Dividend discount
P/E comparison
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Quality

INVESTOR
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  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

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Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Recent performance

1 week
-8.5%
1 month
-12.6%
3 months
-9.5%
6 months
+17.6%
YTD
+43.4%
1 year
+47.0%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
22 Oct 2026, 16:00 CESTACCE price target¥2113first publication¥2210

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in JPY. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth80Value49Quality61Momentum91Total70
Valuation
Trailing P/E
19.4x
Forward P/E
24.3x
PEG
1.15
P/B
no data
EV / Revenue
no data
Book value/sh
no data
Enterprise value
no data
Profitability
ROE
9.2%
FCF yield
no data
ROIC
no data
Health and risk
Debt / equity
no data
Dividend yield
1.67%
Beta
no data

Price

+48.6% · 1Y

Ask anything about 8308.T

Answered from Resona Holdings, Inc. fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 17% of peers
low 9.8x19.4xhigh 21.4x
ROEbetter than 17% of peers
low 5%9%high 19%
Div yieldbetter than 33% of peers
low 0.1%1.7%high 5.8%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
8308.T Resona Holdings, Inc.¥2141.50--19.4x9.2%6170
8309.T Sumitomo Mitsui Trust Group, Inc.¥1623.50--12.3x10.8%6183
CIBEST.CL Grupo Cibest ordinaryCOP 90680.00--11.6x19.2%7086
AXISBANK.NS Axis Bank₹1212.00--12.7x13.9%6867
PFCIBEST.CL Grupo Cibest preferredCOP 77100.00--9.8x19.2%7089
6178.T Japan Post Holdings Co., Ltd.¥2399.00--16.9x5.1%4068
KOTAKBANK.NS Kotak Mahindra Bank₹437.00--21.4x11.4%6166

Sector report card

Where 8308.T ranks against its sector peers on each metric.

Computing percentiles…