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Summary of financial results

[Summary of Financial Results for 1HFY2017]

Sumitomo Mitsui Trust Holdings (Consolidated)

  • ■ “Net business profit before credit costs” <1> decreased by 19.4 billion yen from 1HFY2016 to 126.6 billion yen (1.6 billion yen above the forecast for 1HFY2017), due primarily to decrease in gross business profit of SuMi TRUST Bank.
  • ■ “Ordinary profit” <2> decreased by 19.7 billion yen from 1HFY2016 to 117.7 billion yen due to decrease in “Net gains on stocks” <5> , although profit from recovery of credit cost in “Total credit costs” <4> increased.
  • ■ “Net income attributable to owners of the parent”<3> decreased by 12.4 billion yen from 1HFY2016 to 75.4 billion yen (5.4 billion yen above the forecast for 1HFY2017), representing progress of 50% against the net income forecast for FY2017, 150.0 billion yen.

(Billions of Yen)

  1HFY2016 1HFY2017 Change
Net business profit before credit costs (*1) 1 146.1 126.6 (19.4)
Ordinary profit 2 137.4 117.7 (19.7)
Net income attributable to owners of the parent 3 87.9 75.4 (12.4)
Total credit costs 4 0.7 4.6 3.8
Net gains on stocks 5 9.9 9.1 (0.7)
Return (Net income) on shareholders’ equity (ROE) 6 8.79% 7.32% (1.47)%

(Per share information)

Earnings per common share (EPS) (Yen) (*2) 7 229.51 197.49 (32.02)
Net assets per common share (BPS) (Yen) (*2) 8 6,437.58 6,645.15 207.57

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

Net business profit before credit costs 9 40.0 40.6 0.6
Net income attributable to owners of the parent (*4) 10 18.0 16.1 (1.8)
Total credit costs 11 (1.8) (0.7) 1.1
Net gains on stocks 12 (0.2) (0.4) (0.2)
  • (*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 20.1 billion yen to 85.9 billion yen from 1HFY2016 due primarily to decrease in “Net fees and commissions and related profit” <15> and market related profit.
  • ■ “Ordinary profit” <27> and “Net income” <31> decreased by 12.8 billion yen from 1HFY2016 to 88.3 billion yen and 10.6 billion yen to 59.2 billion yen respectively, whereas profit from recovery of credit cost in “Total credit costs” <24> increased.

(Billions of Yen)

  1HFY2016 1HFY2017 Change
Gross business profit 13 221.5 204.9 (16.5)
  Net interest income and related profit 14 90.3 88.6 (1.6)
  Net fees and commissions and related profit 15 96.7 89.6 (7.1)
  Net trading profit 16 6.3 3.9 (2.4)
  Net other operating profit 17 28.0 22.7 (5.3)
    o/w Net gains on foreign exchange transactions 18 14.2 17.6 3.3
    o/w Net gains on bonds 19 16.9 6.9 (10.0)
    o/w Net gains from derivatives other than for trading or hedging 20 (3.6) (1.8) 1.7
General and administrative expenses 21 (115.4) (118.9) (3.5)
Net business profit before credit costs 22 106.1 85.9 (20.1)
Net non-recurring profit 23 (4.8) 2.3 7.2
  Total credit costs 24 2.6 5.3 2.6
  Net gains on stocks 25 10.1 9.6 (0.5)
  Others 26 (17.7) (12.6) 5.0
Ordinary profit 27 101.2 88.3 (12.8)
Extraordinary profit 28 (2.4) (6.2) (3.7)
Income before income taxes 29 98.7 82.0 (16.6)
Total income taxes 30 (28.8) (22.8) 6.0
Net income 31 69.8 59.2 (10.6)
Overhead ratio (OHR) (-21 / 13) 32 52.11% 58.05% 5.94%

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