The Minami-Nippon Bank (FSE:8554) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

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FSE:8554 The Minami-Nippon Bank Ltd FSE:8554
57 GF Score
Price 円1,327.00
GF Value 円857.80
Valuation Significantly Overvalued
! 1 Warning Sign
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What is The Minami-Nippon Bank Beneish M-Score?

The Minami-Nippon Bank FSE:8554 +1.92% 57 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates FSE:8554 with a GF Score™ of 57/100 and a GF Value™ of 円857.80 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,399 Banks companies, The Minami-Nippon Bank ranks worse than 71479.56% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for The Minami-Nippon Bank's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of The Minami-Nippon Bank was -1.99. The lowest was -2.59. And the median was -2.42.

FSE:8554
57GF Score
The Minami-Nippon Bank Ltd FSE:8554
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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The Minami-Nippon Bank Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of The Minami-Nippon Bank for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円0 Mil.
Revenue was 円13,697 Mil.
Gross Profit was 円13,697 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円865,370 Mil.
Property, Plant and Equipment(Net PPE) was 円11,271 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,060 Mil.
Selling, General, & Admin. Expense(SGA) was 円9,698 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 円2,800 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円8,207 Mil.
 Total Receivables was 円0 Mil.
Revenue was 円14,129 Mil.
Gross Profit was 円14,129 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円830,086 Mil.
Property, Plant and Equipment(Net PPE) was 円11,334 Mil.
Depreciation, Depletion and Amortization(DDA) was 円988 Mil.
Selling, General, & Admin. Expense(SGA) was 円9,400 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0 / 13697) / (0 / 14129)
=0 / 0
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(14129 / 14129) / (13697 / 13697)
=1 / 1
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 11271) / 865370) / (1 - (0 + 11334) / 830086)
=0.986976 / 0.986346
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=13697 / 14129
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(988 / (988 + 11334)) / (1060 / (1060 + 11271))
=0.080182 / 0.085962
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(9698 / 13697) / (9400 / 14129)
=0.708038 / 0.665298
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 0) / 865370) / ((0 + 0) / 830086)
=0 / 0
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(2800 - 0 - 8207) / 865370
=-0.006248

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
The Minami-Nippon Bank (FSE:8554) has a Beneish M-Score of 0.00 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Minami-Nippon Bank and its competitors. According to the industry distribution chart, The Minami-Nippon Bank ranks #999999 out of 1399 companies in the Banks industry.
Is The Minami-Nippon Bank's Beneish M-Score too high?
The Minami-Nippon Bank's current Beneish M-Score is 0.00. Based on the distribution chart, The Minami-Nippon Bank ranks #999999 out of 1399 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, The Minami-Nippon Bank has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The Minami-Nippon Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, The Minami-Nippon Bank ranks #999999 out of 1399 companies for Beneish M-Score. This places The Minami-Nippon Bank in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Banks company?
A good Beneish M-Score depends on the Banks industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Minami-Nippon Bank and its competitors. The Minami-Nippon Bank's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Minami-Nippon Bank stock overvalued right now?
Based on GuruFocus' analysis, The Minami-Nippon Bank (FSE:8554) is currently considered Significantly Overvalued. The stock's GF Value™ is 円857.80, compared to a current price of 円1,327.00 — trading 54.7% above its estimated fair value. The current Beneish M-Score is 0.00. The Minami-Nippon Bank's overall GF Score™ is 57/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For The Minami-Nippon Bank (FSE:8554), the current Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is The Minami-Nippon Bank (FSE:8554) Overvalued in 2026?

Based on GuruFocus' analysis, The Minami-Nippon Bank stock appears to be overvalued. The current stock price of 円1,327.00 is trading 54.7% above its estimated GF Value™ of 円857.80. GuruFocus considers The Minami-Nippon Bank to be Significantly Overvalued.

Key valuation signals for FSE:8554:

  • Beneish M-Score: 0.00
  • GF Value™: 円857.80 vs. price of 円1,327.00 (54.7% above fair value)
  • GF Score™: 57/100 with 1 warning sign

No single metric tells the full story. See the FSE:8554 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

The Minami-Nippon Bank Business Description

Address 1-1 Yamashita-cho, Kagoshima, JPN
The Minami-Nippon Bank Ltd offers banking products and services in Japan.
57GF Score

Get the complete analysis for FSE:8554

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,327.00
Price
円857.80
GF Value