Summary of Financail Results for FY2021

Sumitomo Mitsui Trust Holdings (Consolidated)

  • ”Net business profit before credit costs” <1> increased by 51.3 billion yen from FY2020 to 346.0 billion yen and renewed the highest profit record since integration. The main factor was strong performance from businesses typical of a trust bank group, such as asset management business and client related fee business including investment management consulting and real estate brokerage, etc. In addition, improvement on loan deposit spread and favorable market conditions including stock price hike also contributed.
  • ”Net income attributable to owners of the parent” <3> increased by 26.8 billion yen from FY2020 to 169.0 billion yen. “Other net non-recurring profit” improved, while “Credit cost” <5> increased due to occurrence of new credit cost events from deterioration in business conditions of some clients and additional loan loss provision from a review of the scope. Regarding “Net gains on stocks”, a part of unrealized losses of hedging transactions was realized to mitigate earnings volatility risk.

(Billions of Yen)

FY2020 FY2021 Change
Net business profit before credit costs*1 1 294.7 346.0 51.3
Ordinary profit 2 183.1 229.7 46.5
Net income attributable to owners of the parent 3 142.1 169.0 26.8
Total credit costs 4 (7.8) (41.5) (33.7)
Net gains on stocks 5 (43.5) (38.3) 5.1
Shareholder ROE 6 5.41% 6.25% 0.84%

(Per share information)

Earnings per common share (EPS) 7 379.65 451.40 71.75
Net assets per common share (BPS) 8 7,192 7,249 57

(Difference from non-consolidated financial results)*2

Net business profit before credit costs 9 88.1 103.9 15.8
Net income attributable to owners of the parent *3 10 46.2 55.7 9.4
Total credit costs 11 (1.5) 0.8 2.3
Net gains on stocks 12 0.6 (0.9) (1.6)

*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)

FY2020 FY2021 Change
Gross business profit 13 451.9 490.6 38.6
Gross business profit Net interest income and related profit 14 229.9 275.2 45.3
Gross business profit Net fees and commissions and related profit 15 163.9 180.8 16.8
Gross business profit Net trading profit 16 (33.2) 13.4 46.6
Gross business profit Net other operating profit 17 91.3 21.1 (70.1)
Gross business profit Net other operating profit o/w Net gains on foreign exchange transactions 18 79.1 22.2 (56.9)
Gross business profit Net other operating profit o/w Net gains on bonds 19 (7.8) (17.8) (9.9)
Gross business profit Net other operating profit o/w Net gains from derivatives other than for trading or hedging 20 22.4 19.0 (3.3)
General and administrative expenses 21 (245.4) (248.5) (3.1)
Net business profit before credit costs 22 206.5 242.0 35.5
Net non-recurring profit 23 (92.5) (91.2) 1.2
Net non-recurring profit Total credit costs 24 (6.3) (42.4) (36.1)
Net non-recurring profit Net gains on stocks 25 (44.2) (37.3) 6.8
Net non-recurring profit Others 26 (42.0) (11.5) 30.5
Ordinary profit 27 114.0 150.8 36.8
Extraordinary profit 28 15.6 (1.6) (17.3)
Income before income taxes 29 129.6 149.1 19.4
Total income taxes 30 (33.7) (35.7) (2.0)
Net income 31 95.9 113.3 17.4
Overhead ratio (OHR) (-21 / 13) 32 54.31% 50.66% (3.65%)
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