Summary of Financial Results
Summary of Financial Results for 1HFY2021
Sumitomo Mitsui Trust Holdings (Consolidated)
- “Net business profit before credit costs” <1> increased by 33.3 billion yen from 1HFY2020 to 174.4 billion yen. Client related business made good progress and asset management business also performed well due to favorable market conditions, as well as an increase of effective interest related earnings which includes an improvement on domestic loan-deposit income and non-recurring profits related investment partnership.
- “Net income attributable to owners of the parent” <3> increased by 30.9 billion yen from 1HFY2020 to 111.0 billion yen, as a result of an improvement in both “Total credit cost” and “Other net non-recurring profit”, despite decrease in “Net gains on stocks” due to realized loss through reduction of hedging transactions which exceeded realized gain through divestment of strategic shareholdings.
(Billions of Yen)
| 1HFY2020 | 1HFY2021 | Change | ||
|---|---|---|---|---|
| Net business profit before credit costs*1 | 1 | 141.0 | 174.4 | 33.3 |
| Ordinary profit | 2 | 113.4 | 152.0 | 38.6 |
| Net income attributable to owners of the parent | 3 | 80.0 | 111.0 | 30.9 |
| Total credit costs | 4 | (2.0) | 5.1 | 7.1 |
|---|---|---|---|---|
| Net gains on stocks | 5 | 10.8 | (18.0) | (28.8) |
| Shareholder ROE | 6 | 6.19% | 8.11% | 1.92% |
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(Per share information)
| Earnings per common share (EPS) | 7 | 213.84 | 296.43 | 82.59 |
|---|---|---|---|---|
| Net assets per common share (BPS) | 8 | 7,192.07 | 7,378.57 | 186.50 |
(Difference from non-consolidated financial results)*2
| Net business profit before credit costs | 9 | 38.5 | 43.5 | 4.9 |
|---|---|---|---|---|
| Net income attributable to owners of the parent *3 | 10 | 17.3 | 23.5 | 6.1 |
| Total credit costs | 11 | (0.5) | (0.9) | (0.4) |
|---|---|---|---|---|
| Net gains on stocks | 12 | (0.8) | 0.5 | 1.4 |
*1Consolidated 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.)
*2Difference from Sumitomo Mitsui Trust Bank (Non-consolidated)
*3Differences 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)
| 1HFY2020 | 1HFY2021 | Change | ||||
|---|---|---|---|---|---|---|
| Gross business profit | 13 | 224.9 | 253.9 | 28.9 | ||
| Gross business profit | Net interest income and related profit | 14 | 108.9 | 146.1 | 37.1 | |
| Gross business profit | Net fees and commissions and related profit | 15 | 72.0 | 80.7 | 8.6 | |
| Gross business profit | Net trading profit | 16 | 17.5 | 38.1 | 20.5 | |
| Gross business profit | Net other operating profit | 17 | 26.3 | (11.0) | (37.4) | |
| Gross business profit | Net other operating profit | o/w Net gains on foreign exchange transactions | 18 | 9.2 | (18.1) | (27.3) |
| Gross business profit | Net other operating profit | o/w Net gains on bonds | 19 | 13.5 | 8.1 | (5.3) |
| Gross business profit | Net other operating profit | o/w Net gains from derivatives other than for trading or hedging | 20 | 4.3 | 0.3 | (4.0) |
| General and administrative expenses | 21 | (122.4) | (122.9) | (0.5) | ||
| Net business profit before credit costs | 22 | 102.5 | 130.9 | 28.4 | ||
| Net non-recurring profit | 23 | (18.2) | (15.5) | 2.7 | ||
| Net non-recurring profit | Total credit costs | 24 | (1.5) | 6.0 | 7.6 | |
| Net non-recurring profit | Net gains on stocks | 25 | 11.7 | (18.5) | (30.2) | |
| Net non-recurring profit | Others | 26 | (28.4) | (3.0) | 25.3 | |
| Ordinary profit | 27 | 84.2 | 115.4 | 31.1 | ||
| Extraordinary profit | 28 | (0.5) | (0.7) | (0.2) | ||
| Income before income taxes | 29 | 83.7 | 114.7 | 30.9 | ||
| Total income taxes | 30 | (21.0) | (27.2) | (6.1) | ||
| Net income | 31 | 62.7 | 87.5 | 24.7 | ||
| Overhead ratio (OHR) (-21 / 13) | 32 | 54.43% | 48.43% | (6.00%) |
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