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Summary of financial results

[Summary of Financial Results for 1HFY2020]

Sumitomo Mitsui Trust Holdings (Consolidated)

  • ■ “Net business profit before credit costs” <1> decreased by 13.0 billion yen to 141.0 billion yen YoY, mainly due to decrease in net fees and commissions and related profit in investment management consulting and real estate brokerage resulting from restriction on marketing activities caused by COVID-19, while effective interest related earnings increased and substantial G&A expense improved.
  • ■ “Net income attributable to owners of the parent”<3> decreased by 25.9 billion yen to 80.0 billion yen YoY, mainly due to decrease in “Net business profit before credit costs” <1> and increase in “Other non-recurring loss”, while total credit costs <4> decreased.

(Billions of Yen)

  1HFY2019 1HFY2020 Change
Net business profit before credit costs (*1) 1 154.1 141.0 (13.0)
Ordinary profit 2 151.1 113.4 (37.6)
Net income attributable to owners of the parent 3 106.0 80.0 (25.9)
Total credit costs 4 (1.2) (2.0) (0.8)
Net gains on stocks 5 5.9 10.8 4.8
Return (Net income) on shareholders’ equity (ROE) 6 9.32% 6.76% (2.56%)

(Per share information)

Earnings per common share (EPS) (Yen) 7 281.86 213.84 (68.02)
Net assets per common share (BPS) (Yen) 8 6,822.48 6,948.10 125.62

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

Net business profit before credit costs 9 39.3 38.5 (0.8)
Net income attributable to owners of the parent (*3) 10 21.1 17.3 (3.8)
Total credit costs 11 (1.5) (0.5) 1.0
Net gains on stocks 12 3.7 (0.8) (4.6)
  • (*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)

  1HFY2019 1HFY2020 Change
Gross business profit 13 236.5 224.9 (11.5)
  Net interest income and related profit 14 64.8 108.9 44.1
  Net fees and commissions and related profit 15 86.6 72.0 (14.5)
  Net trading profit 16 42.7 17.5  (25.1)
  Net other operating profit 17 42.3 26.3 (15.9)
    o/w Net gains on foreign exchange transactions 18 40.7 9.2 (31.5)
    o/w Net gains on bonds 19 19.5 13.5 (5.9)
    o/w Net gains from derivatives other than for trading or hedging 20 (18.0) 4.3 22.3
General and administrative expenses 21 (121.7) (122.4) (0.6)
Net business profit before credit costs 22 114.7 102.5 (12.2)
Net non-recurring profit 23 0.1 (18.2) (18.4)
  Total credit costs 24 0.3 (1.5) (1.8)
  Net gains on stocks 25 2.2 11.7 9.4
  Others 26 (2.3) (28.4) (26.0)
Ordinary profit 27 114.9 84.2 (30.6)
Extraordinary profit 28 0.1 (0.5) (0.6)
Income before income taxes 29 115.1 83.7 (31.3)
Total income taxes 30 (30.2) (21.0) 9.2
Net income 31 84.8 62.7 (22.1)
Overhead ratio (OHR) (-21 / 13) 32 51.49% 54.43% 2.94%

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