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Summary of financial results

[Summary of Financial Results for FY2016]

Sumitomo Mitsui Trust Holdings (Consolidated)

  • ■ “Net business profit before credit costs” <1> decreased by 85.9 billion yen from FY2015 to 232.3 billion yen, due primarily to decrease in market-related profit in SuMi TRUST Bank (Non-consolidated), whereas the contribution from subsidiaries increased.
  • ■ “Ordinary profit” <2> decreased by 81.6 billion yen from FY2015 to 196.3 billion yen due to increase of "Total credit costs"<4>, although "Net gains on stocks"<5> improved.
  • ■ “Net income attributable to owners of the parent”<3> decreased by 45.4 billion yen from FY2015 to 121.4 billion yen.

(Billions of Yen)

  FY2015 FY2016 Change
Net business profit before credit costs (*1) 1 318.3 232.3 (85.9)
Ordinary profit 2 278.0 196.3 (81.6)
Net income attributable to owners of the parent 3 166.9 121.4 (45.4)
Total credit costs 4 (25.9) (28.5) (2.5)
Net gains on stocks 5 29.6 36.4 6.8
Return (Net income) on shareholders’ equity (ROE) 6 8.72% 6.07% (2.65)%

(Per share information)

Earnings per common share (EPS) (Yen) (*2) 7 433.30 317.24 (116.06)
Net assets per common share (BPS) (Yen) (*2) 8 6,181.19 6,437.58 256.39

(Difference from non-consolidated financial results) (*3)

Net business profit before credit costs 9 69.1 81.8 12.6
Net income attributable to owners of the parent (*4) 10 23.7 43.7 20.0
Total credit costs 11 (11.7) (3.5) 8.2
Net gains on stocks 12 10.9 5.1 (5.7)
  • (*1) Consolidated 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.)
  • (*2) Indices are presented assuming that the consolidation of shares (one (1) share for every ten (10) shares) enacted on October 1, 2016, took place at the beginning of fiscal year ended March 31, 2016, for consistency purposes.
  • (*3) Difference from Sumitomo Mitsui Trust Bank (Non-consolidated)
  • (*4) Differences between Net income attributable to owners of the parent (Consolidated) and Net income (Non-consolidated).

Sumitomo Mitsui Trust Bank (Non-consolidated)

  • ■ “Net business profit before credit costs” <22> decreased by 98.6 billion yen from FY2015 to 150.5 billion yen, due primarily to decrease in market-related profit reflecting negative impact from sales of US Treasuries.
  • ■ “Ordinary profit” <28> decreased by 101.5 billion yen from FY2015 to 117.3 billion yen, due to increase of “Total credit costs” <26>, although “Net gains on stocks”<26> improved with sales of strategic shareholdings.
  • ■ “Net income” <32> decreased by 65.4 billion yen from FY2015 to 77.6 billion yen.

(Billions of Yen)

  FY2015 FY2016 Change
Gross business profit 13 485.3 383.3 (101.9)
  Net interest income and related profit 14 223.9 216.7 (7.2)
  Net fees and commissions and related profit 15 199.9 196.9 (2.9)
  Net trading profit 16 15.5 17.0 1.5 
  Net other operating profit 17 45.9 (47.3) (93.2)
    o/w Net gains on foreign exchange transactions 18 16.5 28.6 12.1
    o/w Net gains on bonds 19 51.7 (96.9) (148.6)
    o/w Net gains from derivatives other than for trading or hedging 20 (22.8) 21.1 44.0
General and administrative expenses 21 (236.1) (232.7) 3.3
Net business profit before credit costs 22 249.1 150.5 (98.6)
Net non-recurring profit 23 (30.3) (33.2) (2.9)
  Total credit costs 24 (14.1) (24.9) (10.7)
  Net gains on stocks 25 18.7 31.3 12.5
  Others 26 (34.8) (39.5) (4.6)
Ordinary profit 27 218.8 117.3 (101.5)
Extraordinary profit 28 (3.6) (5.9) (2.3)
Income before income taxes 29 215.1 111.3 (103.8)
Total income taxes 30 (72.0) (33.6) 38.3
Net income 31 143.1 77.6 (65.4)
Overhead ratio (OHR) (-20 / 13) 32 48.66% 60.73% 12.07%

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