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Summary of financial results

[Summary of Financial Results for 1HFY2018]

Sumitomo Mitsui Trust Holdings (Consolidated)

  • ■ “Net business profit before credit costs” <1> increased by 20.2 billion yen from 1HFY2017 to 146.9 billion yen, due to continuous improvement of domestic loan-deposit spread in addition to increase in effective interest related earnings including profit attributable to deployment of surplus foreign currency funds as well as increase in net fees and commissions and related profit mainly from group-wide asset management business.
  • ■ “Net income attributable to owners of the parent”<3> increased by 16.0 billion yen from 1HFY2017 to 91.5 billion yen, as a result of improvement in “Total credit cost” <4> due primarily to the reversal of losses from improvement of credit-classification of certain borrowers, while “Net gains on stocks” <5> decreased.

(Billions of Yen)

  1HFY2017 1HFY2018 Change
Net business profit before credit costs (*1) 1 126.6 146.9 20.2
Ordinary profit 2 117.7 140.3 22.6
Net income attributable to owners of the parent 3 75.4 91.5 16.0
Total credit costs 4 4.6 13.3 8.7
Net gains on stocks 5 9.1 (3.7) (12.8)
Return (Net income) on shareholders’ equity (ROE) 6 7.32% 8.46% 1.14%

(Per share information)

Earnings per common share (EPS) (Yen) 7 197.49 241.31 43.82
Net assets per common share (BPS) (Yen) 8 6,645.15 7,014.77 369.62

(Difference from non-consolidated financial results) (*2)

Net business profit before credit costs 9 40.6 12.9 (27.6)
Net income attributable to owners of the parent (*3) 10 16.1 (14.6) (30.8)
Total credit costs 11 (0.7) (3.0) (2.3)
Net gains on stocks 12 (0.4) 2.5 3.0
  • (*1) Consolidated net business profit before credit costs = Net business profit before credit costs of Sumitomo Mitsui Trust Bank (Non-consolidated) + Ordinary profit of other subsidiary companies (non-recurring effect adjusted) + Ordinary profit of affiliates (non-recurring effect adjusted) x Ratio of equity holdings – Intra-group transaction (dividends, etc.)
  • (*2) Difference from Sumitomo Mitsui Trust Bank (Non-consolidated)
  • (*3) Differences between Net income attributable to owners of the parent (Consolidated) and Net income (Non-consolidated).

[Reference] Sumitomo Mitsui Trust Bank (Non-consolidated)

(Billions of Yen)

  1HFY2017 1HFY2018 Change
Gross business profit 13 204.9 252.6 47.6
  Net interest income and related profit 14 88.6 107.1 18.5
  Net fees and commissions and related profit 15 89.6 92.3 2.7
  Net trading profit 16 3.9 6.7 2.8
  Net other operating profit 17 22.7 46.3 23.6
    o/w Net gains on foreign exchange transactions 18 17.6 44.6 27.0
    o/w Net gains on bonds 19 6.9 (4.6) (11.6)
    o/w Net gains from derivatives other than for trading or hedging 20 (1.8)  6.3 8.2
General and administrative expenses 21 (118.9) (118.7) 0.2
Net business profit before credit costs 22 85.9 133.9 47.9
Net non-recurring profit 23 2.3 5.7 3.3
  Total credit costs 24 5.3 16.3 11.0
  Net gains on stocks 25 9.6 (6.2) (15.8)
  Others 26 (12.6) (4.4) 8.2
Ordinary profit 27 88.3 139.6 51.3
Extraordinary profit 28 (6.2) (3.8) 2.4
Income before income taxes 29 82.0 135.8 53.7
Total income taxes 30 (22.8) (29.7) (6.8)
Net income 31 59.2 106.1 46.9
Overhead ratio (OHR) (-21 / 13) 32 58.05% 46.98% (11.07%)

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