Summary of Financial Results for 1HFY2022

Sumitomo Mitsui Trust Holdings (Consolidated)

  • "Net business profit before credit costs" <1> decreased by 6.2 billion yen from 1HFY2021 to 168.2 billion yen. The progress against the full-year forecast of 310.0 billion yen is 54%. Net fees and commissions and related profit increased due to well performance of real estate brokerage fees and corporate credit related fees, and asset administration fees also contributed. While effective interest related earnings decreased mainly due to dearth of favorable market conditions and increase in funding costs due to overseas interest rates rise.
  • "Net income attributable to owners of the parent" <3> decreased by 6.9 billion yen from 1HFY2021 to 104.0 billion yen. While "Credit cost" <5> increased due to occurrence of new credit cost events from deterioration in business conditions of some clients, "Net gains on stocks" increased due to the elimination of loss in 1HFY2021. The progress against the full-year forecast of 190.0 billion yen is 55%.

(Billions of Yen)

1HFY2021 1HFY2022 Change
Net business profit before credit costs*1 1 174.4 168.2 (6.2)
Ordinary profit 2 152.0 145.1 (6.9)
Net income attributable to owners of the parent 3 111.0 104.0 (6.9)
Total credit costs 4 5.1 (8.8) (14.0)
Net gains on stocks 5 (18.0) (2.5) 15.5
Shareholder ROE 6 8.11% 7.63% (0.48%)

(Per share information)

Earnings per common share (EPS) (Yen) 7 296.43 279.82 (16.61)
Net assets per common share (BPS) (Yen) 8 7,378.57 7,406.89 28.32

(Difference from non-consolidated financial results)*2

Net business profit before credit costs 9 43.5 42.1 (1.4)
Net income attributable to owners of the parent *3 10 23.5 21.6 (1.8)
Total credit costs 11 (0.9) 0.0 1.0
Net gains on stocks 12 0.5 (2.0) (2.5)

*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)

1HFY2021 1HFY2022 Change
Gross business profit 13 253.9 254.9 0.9
Gross business profit Net interest income and related profit 14 146.1 110.1 (35.9)
Gross business profit Net fees and commissions and related profit 15 80.7 90.8 10.1
Gross business profit Net trading profit 16 38.1 (31.7) (69.8)
Gross business profit Net other operating profit 17 (11.0) 85.5 96.6
Gross business profit Net other operating profit o/w Net gains on foreign exchange transactions 18 (18.1) 84.0 102.1
Gross business profit Net other operating profit o/w Net gains on bonds 19 8.1 (25.8) (34.0)
Gross business profit Net other operating profit o/w Net gains from derivatives other than for trading or hedging 20 0.3 28.0 27.7
General and administrative expenses 21 (122.9) (128.7) (5.7)
Net business profit before credit costs 22 130.9 126.1 (4.8)
Net non-recurring profit 23 (15.5) (20.5) (5.0)
Net non-recurring profit Total credit costs 24 6.0 (8.9) (15.0)
Net non-recurring profit Net gains on stocks 25 (18.5) (0.5) 18.0
Net non-recurring profit Others 26 (3.0) (6.8) (3.8)
Ordinary profit 27 115.4 109.8 (5.5)
Extraordinary profit 28 (0.7) (0.5) 0.1
Income before income taxes 29 114.7 109.3 (5.3)
Total income taxes 30 (27.2) (26.9) 0.2
Net income 31 87.5 82.4 (5.1)
Overhead ratio (OHR) (-21 / 13) 32 48.43% 50.52% 2.09%
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