Summary of Financial Results
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% |
|---|