Summary of Financial Results
Summary of Financail Results for FY2022
Sumitomo Mitsui Trust Holdings (Consolidated)
- ”Net business profit before credit costs” <1> was 324.6 billion yen exceeding forecast of 310.0 billion yen. Compared to FY2021, effective interest related earnings decreased mainly due to dearth of favorable market conditions that prevailed in FY2021, which was expected from the beginning of FY2022, and increase of funding costs due to rise in overseas interest rates, and substantial G&A expenses increased mainly due to investments in human capital and expenses linked with gross business profit increases. On the other hand, the decline in ”Net business profit before credit costs” was limited to 21.4 billion yen compared to FY2021, due to an increase in net fees and commissions and related profit resulting from strong performance in client businesses such as real estate brokerage business and corporate credit related business.
- "Net income attributable to owners of the parent" <3> was 191.0 billion yen exceeding forecast of 190.0 billion yen. Compared to FY2021, while extraordinary loss on IT system renewal related to overseas operations was posted, "Total credit costs" <4> improved due to limited new credit cost events compared to FY2021 and “Net gains on stocks” <5> improved due to the elimination of loss in FY2021, resulting in a year on year increase in "Net income attributable to owners of the parent" of 21.9 billion yen.
(Billions of Yen)
| FY2021 | FY2022 | Change | ||
|---|---|---|---|---|
| Net business profit before credit costs*1 | 1 | 346.0 | 324.6 | (21.4) |
| Ordinary profit | 2 | 229.7 | 285.8 | 56.1 |
| Net income attributable to owners of the parent | 3 | 169.0 | 191.0 | 21.9 |
| Total credit costs | 4 | (41.5) | (10.4) | 31.1 |
|---|---|---|---|---|
| Net gains on stocks | 5 | (38.3) | 3.0 | 41.4 |
| Shareholder ROE | 6 | 6.25% | 6.93% | 0.68% |
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(Per share information)
| Earnings per common share (EPS) (Yen) | 7 | 451.40 | 517.15 | 65.75 |
|---|---|---|---|---|
| Net assets per common share (BPS) (Yen) | 8 | 7,249.71 | 7,686.52 | 436.81 |
(Difference from non-consolidated financial results)*2
| Net business profit before credit costs | 9 | 103.9 | 78.7 | (25.2) |
|---|---|---|---|---|
| Net income attributable to owners of the parent *3 | 10 | 55.7 | 21.8 | (33.8) |
| Total credit costs | 11 | 0.8 | 1.9 | 1.1 |
|---|---|---|---|---|
| Net gains on stocks | 12 | (0.9) | (2.8) | (1.9) |
*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)
| FY2021 | FY2022 | Change | ||||
|---|---|---|---|---|---|---|
| Gross business profit | 13 | 490.6 | 508.1 | 17.5 | ||
| Gross business profit | Net interest income and related profit | 14 | 275.2 | 133.4 | (141.8) | |
| Gross business profit | Net fees and commissions and related profit | 15 | 180.8 | 193.2 | 12.4 | |
| Gross business profit | Net trading profit | 16 | 13.4 | 10.4 | (3.0) | |
| Gross business profit | Net other operating profit | 17 | 21.1 | 171.0 | 149.9 | |
| Gross business profit | Net other operating profit | o/w Net gains on foreign exchange transactions | 18 | 22.2 | 199.2 | 177.0 |
| Gross business profit | Net other operating profit | o/w Net gains on bonds | 19 | (17.8) | (26.0) | (8.1) |
| Gross business profit | Net other operating profit | o/w Net gains from derivatives other than for trading or hedging | 20 | 19.0 | 1.0 | (18.0) |
| General and administrative expenses | 21 | (248.5) | (262.2) | (13.7) | ||
| Net business profit before credit costs | 22 | 242.0 | 245.9 | 3.8 | ||
| Net non-recurring profit | 23 | (91.2) | (21.3) | 69.9 | ||
| Net non-recurring profit | Total credit costs | 24 | (42.4) | (12.4) | 29.9 | |
| Net non-recurring profit | Net gains on stocks | 25 | (37.3) | 5.9 | 43.3 | |
| Net non-recurring profit | Others | 26 | (11.5) | (14.8) | (3.3) | |
| Ordinary profit | 27 | 150.8 | 224.5 | 73.7 | ||
| Extraordinary profit | 28 | (1.6) | (0.3) | 1.3 | ||
| Income before income taxes | 29 | 149.1 | 224.2 | 75.1 | ||
| Total income taxes | 30 | (35.7) | (55.1) | (19.3) | ||
| Net income | 31 | 113.3 | 169.1 | 55.7 | ||
| Overhead ratio (OHR) (-21 / 13) | 32 | 50.66% | 51.61% | 0.95% |
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