Juroku Bank (NGO:8356) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


NGO:8356 Juroku Bank Ltd NGO:8356
12 GF Score
Price 円1,686.00
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What is Juroku Bank Beneish M-Score?

Juroku Bank NGO:8356 12 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates NGO:8356 with a GF Score™ of 12/100.

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 Juroku Bank's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Juroku Bank was 0.00. The lowest was 0.00. And the median was 0.00.

NGO:8356
12GF Score
Juroku Bank Ltd NGO:8356
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Juroku 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 Juroku 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 * 1+0.528 * 1+0.404 * 1.0014+0.892 * 1.0699+0.115 * 1.0212
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9037+4.679 * -0.078176-0.327 * 2.0042
=-3.09

* 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 (Mar21) TTM:Last Year (Mar20) TTM:
Total Receivables was 円0 Mil.
Revenue was 円105,156 Mil.
Gross Profit was 円105,156 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円7,238,375 Mil.
Property, Plant and Equipment(Net PPE) was 円59,414 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,029 Mil.
Selling, General, & Admin. Expense(SGA) was 円46,808 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円467,151 Mil.
Net Income was 円14,722 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円580,590 Mil.
 Total Receivables was 円0 Mil.
Revenue was 円98,282 Mil.
Gross Profit was 円98,282 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円6,472,453 Mil.
Property, Plant and Equipment(Net PPE) was 円62,333 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,323 Mil.
Selling, General, & Admin. Expense(SGA) was 円48,410 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円208,420 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 / 105156) / (0 / 98282)
=0 / 0
=1

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)
=(98282 / 98282) / (105156 / 105156)
=1 / 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 + 59414) / 7238375) / (1 - (0 + 62333) / 6472453)
=0.991792 / 0.990369
=1.0014

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
=105156 / 98282
=1.0699

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))
=(4323 / (4323 + 62333)) / (4029 / (4029 + 59414))
=0.064855 / 0.063506
=1.0212

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)
=(46808 / 105156) / (48410 / 98282)
=0.445129 / 0.492562
=0.9037

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)
=((467151 + 0) / 7238375) / ((208420 + 0) / 6472453)
=0.064538 / 0.032201
=2.0042

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
=(14722 - 0 - 580590) / 7238375
=-0.078176

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.

Juroku Bank has a M-score of -3.09 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Juroku Bank (NGO:8356) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Juroku Bank and its competitors.
Is Juroku Bank's Beneish M-Score too high?
Juroku Bank's current Beneish M-Score is 0.00. Overall, Juroku Bank has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Juroku Bank's Beneish M-Score compare to USB and TFC?
Juroku Bank's Beneish M-Score of 0.00 can be compared against companies in the Banks 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 Juroku Bank and its competitors. Juroku 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 Juroku Bank stock overvalued right now?
Juroku Bank (NGO:8356) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Juroku Bank's overall GF Score™ is 12/100. 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 Juroku Bank (NGO:8356), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Juroku Bank Business Description

Address 8-26, Kandamachi, Gifu, JPN, 500-8516
Juroku Bank Ltd is a Japanese bank that focuses its operational efforts on the industrial center of the Chubu region of Japan, particularly the Gifu prefecture. Loans and bills discounted constitute a majority of the bank's earning assets. An overwhelming majority of its loan portfolio is related to loans on deeds. its deposit base is split nearly evenly between time deposits and ordinary deposits. Securities also constitute a sizable portion of earning assets, mostly related to national government bonds and other securities. Net interest income and income on lease transactions and installment receivables drive a majority of the bank's income generation.
12GF Score

Get the complete analysis for NGO:8356

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

円1,686.00
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