Summary of Financial Results
Summary of Financial Results for FY2020
Sumitomo Mitsui Trust Holdings (Consolidated)
- "Net business profit before credit costs" <1> increased by 5.6 billion yen from FY2019 to 294.7 billion yen due to increase of effective interest related earnings which includes improvement on domestic loan-deposit income and one-off increase of profits related to stock price hike, while net fees and commissions and related profit decreased due to restriction of marketing activities of investment management consulting and real estate brokerage in 1H.
- "Net income attributable to owners of the parent"<3> decreased by 20.8 billion yen from FY2019 to 142.1 billion yen, mainly due to realization of a part of unrealized gains/losses of both strategic shareholdings as well as hedging transactions and improved hedge positions, while "Total credit costs" <4> improved.
(Billions of Yen)
| FY2019 | FY2020 | Change | ||
|---|---|---|---|---|
| Net business profit before credit costs*1 | 1 | 289.0 | 294.7 | 5.6 |
| Ordinary profit | 2 | 257.6 | 183.1 | (74.5) |
| Net income attributable to owners of the parent | 3 | 163.0 | 142.1 | (20.8) |
| Total credit costs | 4 | (43.8) | (7.8) | 36.0 |
|---|---|---|---|---|
| Net gains on stocks | 5 | 40.1 | (43.5) | (83.6) |
| Shareholder ROE | 6 | 6.25% | 5.41% | (0.84%) |
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(Per share information)
| Earnings per common share (EPS) | 7 | \434.31 | \379.65 | \(54.66) |
|---|---|---|---|---|
| Net assets per common share (BPS) | 8 | \6,822.48 | \7,192.07 | \369.59 |
(Difference from non-consolidated financial results)*2
| Net business profit before credit costs | 9 | 82.2 | 88.1 | 5.9 |
|---|---|---|---|---|
| Net income attributable to owners of the parent *3 | 10 | 38.3 | 46.2 | 7.9 |
| Total credit costs | 11 | (9.0) | (1.5) | 7.5 |
|---|---|---|---|---|
| Net gains on stocks | 12 | 23.4 | 0.6 | (22.8) |
*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)
| FY2019 | FY2020 | Change | ||||
|---|---|---|---|---|---|---|
| Gross business profit | 13 | 453.2 | 451.9 | (1.2) | ||
| Gross business profit | Net interest income and related profit | 14 | 134.1 | 229.9 | 95.7 | |
| Gross business profit | Net fees and commissions and related profit | 15 | 174.3 | 163.9 | (10.3) | |
| Gross business profit | Net trading profit | 16 | 102.1 | (33.2) | (135.4) | |
| Gross business profit | Net other operating profit | 17 | 42.5 | 91.3 | 48.7 | |
| Gross business profit | Net other operating profit | o/w Net gains on foreign exchange transactions | 18 | 48.6 | 79.1 | 30.5 |
| Gross business profit | Net other operating profit | o/w Net gains on bonds | 19 | 33.9 | (7.8) | (41.8) |
| Gross business profit | Net other operating profit | o/w Net gains from derivatives other than for trading or hedging | 20 | (40.0) | 22.4 | 62.4 |
| General and administrative expenses | 21 | (246.4) | (245.4) | 0.9 | ||
| Net business profit before credit costs | 22 | 206.8 | 206.5 | (0.2) | ||
| Net non-recurring profit | 23 | (30.3) | (92.5) | (62.1) | ||
| Net non-recurring profit | Total credit costs | 24 | (34.7) | (6.3) | 28.4 | |
| Net non-recurring profit | Net gains on stocks | 25 | 16.6 | (44.2) | (60.8) | |
| Net non-recurring profit | Others | 26 | (12.2) | (42.0) | (29.7) | |
| Ordinary profit | 27 | 176.4 | 114.0 | (62.4) | ||
| Extraordinary profit | 28 | 1.0 | 15.6 | 14.5 | ||
| Income before income taxes | 29 | 177.5 | 129.6 | (47.8) | ||
| Total income taxes | 30 | (52.8) | (33.7) | 19.0 | ||
| Net income | 31 | 124.7 | 95.9 | (28.7) | ||
| Overhead ratio (OHR) (-21 / 13) | 32 | 54.37% | 54.31% | (0.06%) |
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