au Financial Holdings (au-FH)
On this page
- Wiki route
- TL;DR
- 1. Company overview
- KPI results (based on KDDI official IR / au Jibun Bank official PR)
- Major subsidiaries / holdings (based on public information)
- Key chronology (excerpt)
- Chronology topics
- 2. Business-segment map
- Strategic core: telecom × convenience store × finance economic sphere + IPO independence
- Competitive position: the 4 poles of telco-affiliated FGs
- Alliances / M&A
- 4. Regulation / policy
- Related
- Sources
Wiki route
This entry sits under megabanks INDEX. Read it against PayPay Financial Group for peer / contrast context and banking index for the broader system / regulatory boundary.
TL;DR
A KDDI 100% subsidiary and the holding company of the KDDI financial economic sphere. Established 2019-04-01. Under its umbrella are au Jibun Bank / au PAY Card / au PAY / au PAY Sonpo (general insurance) / au Asset Management, etc. 2025-01-31 it acquired all shares of au Jibun Bank from MUFG (in exchange, it sold the former au Kabucom Securities → Mitsubishi UFJ e-Smart Securities to MUFG) → the bank’s 100% subsidiary conversion was completed. FY2026/3 operating profit 432 億円 (prior period 406 億円, +6.4% / CAGR FY2023+ 30.4%), total assets approx. 9.3 兆円. 2026-05-12 KDDI made an official timely disclosure of the start of TSE-listing preparations for auFH — the first IPO candidacy among telco-affiliated FGs (timing undecided; KDDI plans to remain a major shareholder even after listing). Via au Ponta + the 2024-07 Lawson 50/50 JV, it builds a “telecom × convenience store × finance” ecosystem. On 2026-06-18, all 14,726,100 Lifenet shares held by auFH (18.32% of issued shares / 18.33% of voting rights) were transferred to JAL, so auFH ceased to be Lifenet’s major shareholder while the business alliance continues under a new agreement.^[source:lifenet-jal-transfer-2026][source:au-fh-lifenet-alliance-2026] One of the four poles of telco-affiliated FGs (ndfg / au-FH / paypay-fg / rakuten-fg).
1. Company overview
Legal name: au フィナンシャルホールディングス株式会社 English name: au Financial Holdings Corporation Established: 2019-04-01 (newly set up to integrate KDDI’s financial businesses) Head office: Iidabashi, Chiyoda-ku, Tokyo Parent company: KDDI Corporation (100%) Positioning: Core company of the “financial business” within KDDI’s Personal segment Listing: Unlisted (KDDI wholly-owned subsidiary) → 2026-05-12 KDDI made an official timely disclosure of the start of TSE-listing preparations (timing undecided; KDDI plans to remain a major shareholder even after listing) Total assets: approx. 9.3 兆円 (2026-03 term, value disclosed at the time of the listing-preparation announcement)
KPI results (based on KDDI official IR / au Jibun Bank official PR)
au Financial Holdings standalone operating profit
| Term | Operating profit | YoY |
|---|---|---|
| FY2023/3 | Starting point (CAGR base) | — |
| FY2025/3 | 406 億円 | — |
| FY2026/3 | 432 億円 | +6.4% (CAGR +30.4% vs FY2023 ) |
Main business KPIs (latest disclosed values)
| Item | Value | Point in time / source |
|---|---|---|
| au-FH total assets | approx. 9.3 兆円 | 2026-03 term / at the listing-preparation announcement |
| au Jibun Bank deposit balance | surpassed 5 兆円 | 2025-08-06 official PR |
| au Jibun Bank deposit-account count | surpassed 700 万 | 2025-09-20 official PR |
| au Jibun Bank personal deposits | **YoY ×+1.3 ** | FY2026/3 progress |
| au PAY Card gold members | 172 万 members | within FY2026/3 |
| Ponta Pass net increase | 29 万 members (Q2) | FY2026/3 2Q |
| au PAY merchants (locations) | approx. 753 万 locations | as of 2025-11-28 |
Parent company KDDI consolidated (reference)
| Item | FY2025/3 | FY2026/3 | FY2027/3 est. |
|---|---|---|---|
| Consolidated revenue | 5 兆 9,180 億円 | 6 兆 719 億円 (+4.1%) | 6 兆 4,100 億円 (+5.6%) |
| Consolidated operating profit | 1 兆 1,187 億円 | 1 兆 991 億円 (+1.1%) | 1 兆 2,100 億円 (adjusted +5.0%) |
| Personal segment revenue | — | 4 兆 8,127 億円 (+2.2%) | — |
| Personal segment operating profit | — | 8,283 億円 (▲2.1%) | — |
| Lawson equity-method P&L | +57 億円 (FY25/3 1Q) | ▲44 億円 (FY26/3 1Q, second-half growth factored in) | — |
Major subsidiaries / holdings (based on public information)
au Financial Holdings (unlisted, KDDI 100%, total assets 9.3兆円, TSE-listing preparation underway)
├── au Jibun Bank (100%) ── net bank, 2025-01-31 MUFG → KDDI 100% conversion completed
│ ※ Former name: Jibun Bank (established 2008 , KDDI 50% + Bank of Tokyo-Mitsubishi UFJ 50% joint venture)
│ → 2020-05 renamed "au Jibun Bank" → 2025-01-31 KDDI 100% conversion
│ → 2025-08 deposit balance surpassed 5兆円 / 2025-09 口座count surpassed 700万
├── au Payment Corporation (100%) ── operates QR / barcode payment au PAY
├── au PAY Card Corporation (100%) ── formerly KDDI Financial Service
│ ※ Gold members 172万 (FY26/3)
├── au Financial Service Corporation (100%) ── money lending (personal loans)
├── au PAY Sonpo (General Insurance) Corporation (100%) ── formerly au Sonpo (originated as a KDDI + Aioi Nissay Dowa Insurance JV)
├── au Asset Management Corporation (100%) ── investment-trust management
【departed from under au-FH (2025-01-31)】
Former au Kabucom Securities → MUFG 100% conversion → renamed "Mitsubishi UFJ e-Smart Securities"
【Capital relationship dissolved (2026-06-18)】
Lifenet Insurance Corporation ── all 14,726,100 shares held by auFH were transferred to JAL. auFH is no longer the major-shareholder / equity-method route, while the KDDI group business alliance continues.^[source:lifenet-jal-transfer-2026][source:au-fh-lifenet-alliance-2026]Note on entity sorting: “au Kabucom Securities” was sold to MUFG on 2025-01-31 and renamed “Mitsubishi UFJ e-Smart Securities”. On the same date, the au Jibun Bank shares held by MUFG were transferred to KDDI. au-FH’s securities business is in a blank state (as of 2026-05 , no official announcement of rebuilding a new securities function / partnership).
Key chronology (excerpt)
| Date | Event |
|---|---|
| 2008-06-17 | Jibun Bank established (KDDI + Bank of Tokyo-Mitsubishi UFJ 50/50 JV) — Japan’s first full-fledged mobile-specialized net bank |
| 2010-12 | au Sonpo (general insurance) launched (KDDI + Aioi Nissay Dowa Insurance JV) |
| 2014-05 | au WALLET launched (prepaid card, the starting point of KDDI-affiliated payments) |
| 2017-09 | KDDI Financial Service (au WALLET card issuer) incorporated |
| 2019-04-01 | au Financial Holdings inaugurated (integration of KDDI’s financial subsidiaries) |
| 2019-04 | au PAY launched (QR-code payment, unified under the au WALLET brand) |
| 2019-12 | KDDI invested in au Kabucom Securities (former Kabu.com Securities → renamed “au Kabucom Securities”) |
| 2020-05-21 | Jibun Bank → renamed au Jibun Bank |
| 2020-09 | Mitsubishi Corporation × KDDI × Ponta (Loyalty Marketing) capital and business alliance (Ponta + au PAY linkage accelerated) |
| 2024-02-06 | KDDI announced acquisition of Lawson via TOB / MBO (Mitsubishi Corporation 50% + KDDI 50% Joint Ownership) |
| 2024-04-25 | KDDI Lawson TOB concluded → 2024-05-07 settlement → Lawson became a KDDI equity-method affiliate |
| 2024-07-24 | KDDI / Mitsubishi Corporation Lawson joint management began (TSE delisting / going private) |
| 2025-01-31 | MUFG ↔ KDDI subsidiary swap: MUFG sold all au Jibun Bank shares to auFH; in exchange MUFG 100% acquired the former au Kabucom Securities (→ Mitsubishi UFJ e-Smart Securities) |
| 2025-08-06 | au Jibun Bank deposit balance surpassed 5 兆円 (official PR) |
| 2025-09-20 | au Jibun Bank deposit-account count surpassed 700 万 (official PR) |
| 2026-05-12 | KDDI made an official timely disclosure of the start of TSE-listing preparations for auFH (timing undecided; KDDI plans to remain a major shareholder even after listing) |
Chronology topics
Jibun Bank swap (2025-01-31): established 2008-06 as a KDDI 50% + Bank of Tokyo-Mitsubishi UFJ 50% JV, dissolving a joint-venture relationship of 17 years. On the same date, MUFG sold its holding 50% to KDDI, completing the KDDI 100% subsidiary conversion. In exchange, MUFG acquired the former au Kabucom Securities (under au-FH) and turned it into “Mitsubishi UFJ e-Smart Securities”. In this cross-transaction accompanying both firms’ financial-strategy realignment, KDDI chose to “place the bank at the core and let go of securities”.
2026-05-12 IPO-preparation announcement: KDDI released the official timely disclosure “Regarding the Start of Preparations for Listing the Shares of au Financial Holdings Corporation on the Tokyo Stock Exchange”. Bloomberg / Nikkei / Keitai Watch also reported it the same day. The first IPO candidacy as a telco-affiliated FG. A strategy to independently disclose to the market a financial platform with total assets 9.3 兆円 and FY26/3 operating profit 432 億円 (CAGR +30.4%).
2. Business-segment map
| Segment | Main operators | Characteristics / recent trends |
|---|---|---|
| Net bank | au Jibun Bank | Formerly MUFG-affiliated → 2025-01-31 KDDI 100% conversion. Deposits 5 兆円 / accounts 700 万. Shifting from mortgage dependence to a deposit-loan-ratio-focused strategy |
| QR / barcode payment | au PAY (au Payment) | Merchants 753 万 locations. User base over 4000 万 via Ponta linkage |
| Credit | au PAY Card | Gold members 172 万. Linked to KDDI telecom charges |
| Money lending | au Financial Service | Personal loans / deferred payment |
| General insurance | au PAY Sonpo | Formerly au Sonpo, originated as an Aioi Nissay Dowa Insurance JV |
| Life insurance | Lifenet Insurance (business alliance continues; capital relationship dissolved) | Collaboration such as au life insurance and au Jibun Bank group credit life insurance continues. However, auFH transferred all held shares to JAL on 2026-06-18 and is no longer a major shareholder.^[source:lifenet-jal-transfer-2026][source:au-fh-lifenet-alliance-2026] |
| Investment trust / asset management | au Asset Management | Investment-trust sales via au PAY |
| Net securities | Blank (2025-01-31 au Kabucom departed) | As of 2026-05 , no official announcement of rebuilding / partnership |
| Points | au PAY × Ponta (Loyalty Marketing) | KDDI + Mitsubishi Corporation alliance |
| Convenience-store linkage | Lawson (KDDI + Mitsubishi Corporation 50/50) | 2024-07 going private / fintech-izing the store network |
Strategic core: telecom × convenience store × finance economic sphere + IPO independence
- au Ponta points: 2020-09 took in Ponta via a KDDI + Mitsubishi Corporation + Loyalty Marketing 3 社 alliance, turning it into a common-point base
- Lawson joint management (announced 2024-02 / completed 2024-07 ): Mitsubishi Corporation 50% + KDDI 50% Joint Ownership. Uses the network of approx. 14,000 店 convenience stores as touchpoints for au PAY / financial services. The FY26/3 1Q equity-method P&L was ▲44 億円 (second-half growth factored in)
- au PAY Market (former Wowma!): a recurring economic sphere of EC + au PAY + Ponta
- TSE IPO preparation (announced 2026-05-12): securing an independent fundraising channel, improving management independence / transparency, and gaining market valuation as a financial group. KDDI remains a major shareholder.
- Deposit-loan-ratio-focused strategy: in a rising-rate environment, “a shift from mortgage dependence to a strategy mindful of deposit-funding competition” (KDDI 2Q briefing)
Competitive position: the 4 poles of telco-affiliated FGs
| FG | Parent company | Bank | Core | Listing strategy |
|---|---|---|---|---|
| ndfg | NTT docomo | [[regional-banks/ssnb | 住信SBI→ドコモSMTBネット銀行]] (consolidated subsidiary, 2025-10-01〜) | dポイント / d Card |
| au-FH | KDDI | au Jibun Bank (100%) | au Ponta / Lawson | 2026-05-12 announced start of TSE-listing preparations |
| paypay-fg | SoftBank Group / Z | PayPay Bank (former Japan Net) | PayPay | Via LINE Yahoo |
| rakuten-fg | Rakuten Group | Rakuten Bank (listed) | Rakuten Points / Rakuten Ichiba | Bank / securities / card listed individually |
Alliances / M&A
- MUFG alliance dissolution (2025-01-31): dissolution of a 17 -year joint venture; the bank converted to a KDDI 100% subsidiary
- Mitsubishi Corporation linkage (Lawson + Ponta): 2020 points linkage → 2024 relationship deepened through Lawson joint management
- Aioi Nissay Dowa Insurance: the former JV partner of au Sonpo (now au PAY Sonpo)
- Lifenet Insurance (TSE Prime 7157): online insurer partnered with the KDDI group since 2015. On 2026-04-30, auFH announced the planned transfer of all 14,726,100 shares it held (18.32% ownership stake) to JAL, and the transfer was completed on 2026-06-18. After the change, auFH’s voting rights and shares held are both shown as ”-”, so it is no longer Lifenet’s major shareholder.^[source:au-fh-lifenet-alliance-2026][source:lifenet-jal-transfer-2026]
4. Regulation / policy
- Supervisor: Financial Services Agency (FSA)
- Banking business: Banking Act (au Jibun Bank)
- Funds transfer / prepaid payment instruments: Payment Services Act (au PAY)
- Insurance business: Insurance Business Act (au PAY Sonpo)
- Financial Instruments and Exchange Act: investment trust / asset management
- Recent policy issues:
- 2026〜 TSE-listing preparation: responding to listing-examination standards (corporate governance / disclosure granularity)
- 2025〜 My Number Card × bank-account linkage (au Jibun Bank My Number application rate surged 28%→86%)
Related
- mufg · ndfg · paypay-fg · rakuten-fg · smfg · ssnb
- mercari-bank-license-stack · minna-bank-baas-model
Sources
- KDDI Corporation “2026 年 3 月-term earnings” (2026-05-12 official IR) https://newsroom.kddi.com/ir-news/detail/kddi_ir-1148_4471.html
- KDDI Corporation “Regarding the Start of Preparations for Listing the Shares of au Financial Holdings Corporation on the Tokyo Stock Exchange” (2026-05-12 timely disclosure) https://newsroom.kddi.com/ir-news/assets/2026/kddi_ir-1149_4470/kddi_ir-1149_4470_pdf_01.pdf
- au Financial Holdings “Regarding the Start of Listing Preparations” (2026-05-12) https://www.au-financial.com/pdf/auFH/news_20260512_02.pdf
- KDDI 2026 年 3 月-term earnings report (IFRS consolidated) (2026-05-12) https://www.kddi.com/extlib/files/corporate/ir/library/presentation/2026/pdf/kddi_2026_4qc_PsXBu3.pdf
- KDDI 2026 年 3 月-term earnings briefing main material (2026-05-12) https://www.kddi.com/extlib/files/corporate/ir/library/presentation/2026/pdf/kddi_260512_main_T8v6VV.pdf
- Dempa Shimbun Digital “KDDI: the 26 -year 3 -month period saw revenue and profit growth” (confirming auFH operating profit 432 億 → prior period 406 億) https://dempa-digital.com/article/715282
- STOCK EXPRESS “KDDI earnings announcement: record-high profit updated” (confirming auFH listing preparation / CAGR 30.4%) https://stockexpress.jp/kddi20260512/
- au Jibun Bank “Deposit balance surpassed 5 兆円” (2025-08-06) https://www.jibunbank.co.jp/corporate/news/2025/0812_01.html
- au Jibun Bank “Deposit-account count surpassed 700 万” (2025-09-20) https://www.jibunbank.co.jp/corporate/news/2025/0912_01.html
- Wikipedia: auフィナンシャルホールディングス (extracted 2026-05-19) https://ja.wikipedia.org/wiki/auフィナンシャルホールディングス
- Wikipedia: auじぶん銀行 (extracted 2026-05-19) https://ja.wikipedia.org/wiki/Au%E3%81%98%E3%81%B6%E3%82%93%E9%8A%80%E8%A1%8C
- au Financial Holdings / Lifenet Insurance “Notice Regarding Change in Major Shareholder of LIFENET Insurance and Execution of New Business Alliance Agreement” (2026-04-30; auFH decided to transfer all 14,726,100 shares / 18.32% to JAL) https://www.au-financial.com/pdf/auFH/news_20260430_01.pdf
- Lifenet Insurance “Notice Concerning Completion of Acquisition of Shares of Common Stock of the Company by Japan Airlines Co., Ltd. and Change in Major Shareholder” (2026-06-18; JAL acquisition completed; auFH has no shares after the change) https://ir.lifenet-seimei.co.jp/ja/news/index/auto_20260618573585/pdfFile.pdf
- Lifenet Insurance IR “Shareholder / share information (share status)” (checked 2026-06-25; note that all common shares held by auFH were transferred to JAL on 2026-06-18) https://ir.lifenet-seimei.co.jp/ja/ir/stock/overview.html
[!info] Verification status confidence: likely (v1.3 KDDI / auFH official IR FY26/3 + au Jibun Bank official PR + 2026-05-12 IPO timely disclosure + Lifenet Insurance 2026-06-18 IR, re-verified 2026-06-25). Because au-FH standalone remains unlisted, revenue is not separately disclosed and only operating profit is published (FY26/3 432 億円, CAGR +30.4%). Total assets 9.3 兆円, au Jibun Bank deposits 5 兆円 / accounts 700 万 are official figures. 2026-06-25 correction: the Lifenet stake was fully transferred to JAL on 2026-06-18, so auFH is no longer the largest-shareholder / equity-method route for Lifenet. Most important: the 2026-05-12 official announcement of TSE-listing preparation — the first IPO candidacy among telco-affiliated FGs — timing / market section / fundraising scale are all undecided and require continued scrutiny. The blanking of the securities business is a fact (as of 2026-05, no official announcement of rebuilding). The assessment of the stablecoin Progmat linkage is isolated to
.opinions.