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%

(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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