Explanatory Material
Fiscal Year 2025
ended on Mar. 31, 2026
1. Status of profit and loss | --------- | 1-2 |
2. Yields and margins | --------- | 3 |
3. Net gains/ losses on securities | --------- | 3 |
4. Unrealized gains/ losses on investment securities | --------- | 4-5 |
5. Maturity ladder of securities | --------- | 5 |
6. BIS capital adequacy ratio | --------- | 6-7 |
7. Return on equity (ROE) | --------- | 7 |
8. Loans and Deposits (Banking a/c and principal guaranteed trust a/c combined) | --------- | 8 |
9. Loans (Banking a/c and principal guaranteed trust a/c combined) | --------- | 9 |
10. Non-Performing Loans (NPLs) based on Banking Act and Reconstruction Act | --------- | 10-11 |
(Banking a/c and principal guaranteed trust a/c combined)
11. Self-Assessment and Non-Performing Loans (NPLs) based on Banking Act and Reconstruction Act 11
(Banking a/c and principal guaranteed trust a/c combined)
12. Allowance for loan losses | --------- | 12 |
13. Final disposal of non-performing loans (Banking a/c and principal guaranteed trust a/c combined) | --------- | 13 |
14. Retirement benefits | --------- | 14 |
15. Deferred tax assets | --------- | 15 |
| Other referential financial figures of SuMiTB | --------- | 16-18 |
Sumitomo Mitsui Trust Group (Consolidated): "SuMiTG" or "Consolidated" Sumitomo Mitsui Trust Bank (Non-consolidated): "SuMiTB" or "Non-Consolidated"
Legal DisclaimerRegarding forward-looking Statements contained in this material
This presentation material contains information that constitutes forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors including but not limited to changes in managerial circumstances. By virtue of the aforementioned reasons, Sumitomo Mitsui Trust Group, Inc. hereby cautions against sole reliance on such forward-looking statements in making investment decisions.
Financial figures | ||||
1. Status of profit and loss | ||||
[Consolidated] | (Millions of yen) | |||
FY2025 | FY2024 | Change | ||
Consolidated gross business profit (*1) | 1 | 860,835 | 851,971 | 8,864 |
Consolidated gross business profit (after written-off of principal guaranteed trust a/c) (1 + 20) | 2 | 860,835 | 851,971 | 8,864 |
Net interest income and related profit | 3 | (6,113) | (87,993) | 81,879 |
Net interest income | 4 | (22,040) | (105,441) | 83,401 |
Trust fees from principal guaranteed trust a/c (before written-off of principal guaranteed trust a/c) | 5 | 15,926 | 17,447 | (1,521) |
Net fees and commissions and related profit | 6 | 521,153 | 464,156 | 56,997 |
Net fees and commissions | 7 | 411,645 | 360,718 | 50,926 |
Other trust fees | 8 | 109,508 | 103,437 | 6,071 |
Net trading profit | 9 | 88,748 | 102,860 | (14,112) |
Net other operating profit | 10 | 257,046 | 372,948 | (115,901) |
Net gains (losses) on foreign exchange transactions | 11 | 296,512 | 368,665 | (72,152) |
Net gains (losses) on bonds | 12 | (51,869) | (41,523) | (10,345) |
Net gains (losses) from derivatives other than for trading or hedging | 13 | (16,734) | 15,803 | (32,537) |
General and administrative expenses | 14 | (565,021) | (532,939) | (32,081) |
(excluding amortization of goodwill) | 15 | (560,995) | (526,204) | (34,790) |
Personnel expenses | 16 | (244,880) | (235,728) | (9,152) |
Non-personnel expenses excluding taxes | 17 | (301,086) | (279,361) | (21,725) |
Taxes other than income taxes | 18 | (19,053) | (17,849) | (1,204) |
Provision of general allowance for loan losses | 19 | (12,719) | (8,919) | (3,799) |
Principal guaranteed trust a/c credit costs | 20 | - | - | - |
Banking a/c credit costs | 21 | (13,670) | (16,836) | 3,166 |
Written-off of loans | 22 | (2,309) | (7,481) | 5,171 |
Provision of specific allowance for loan losses | 23 | (9,894) | (9,355) | (538) |
Losses on sales of loans | 24 | (1,466) | - | (1,466) |
Reversal of allowance for loan losses | 25 | - | - | - |
Recoveries of written-off claims | 26 | 2,481 | 1,129 | 1,351 |
Net gains (losses) on stocks | 27 | 138,883 | 81,420 | 57,463 |
Losses on devaluation of stocks | 28 | (4,127) | (2,408) | (1,719) |
Net income from affiliates by equity method | 29 | 23,754 | 22,616 | 1,137 |
Others | 30 | (33,044) | (30,746) | (2,297) |
Ordinary profit | 31 | 401,499 | 367,694 | 33,805 |
Extraordinary profit | 32 | 26,557 | (13,260) | 39,818 |
Impairment loss on fixed assets | 33 | (990) | (276) | (713) |
Impairment loss on fixed assets | 34 | (13,952) | (12,984) | (968) |
Other (*2) | 35 | 41,500 | - | 41,500 |
Income before income tax | 36 | 428,056 | 354,433 | 73,623 |
Total income taxes | 37 | (107,511) | (95,294) | (12,216) |
Income taxes-current | 38 | (136,175) | (105,191) | (30,983) |
Income taxes-deferred | 39 | 28,663 | 9,896 | 18,767 |
Net income | 40 | 320,545 | 259,138 | 61,406 |
Net income attributable to non-controlling interests | 41 | (2,978) | (1,503) | (1,475) |
Net income attributable to owners of the parent | 42 | 317,566 | 257,635 | 59,931 |
Total credit costs (19 + 20 + 21 + 25 + 26) | 43 | (23,908) | (24,626) | 718 |
(*1) Consolidated gross business profit = Trust fees + (Interest income - Interest expenses) + (Fees and commissions - Fees and commissions payments)
+ (Trading income - Trading expenses) + (Other operating income - Other operating expenses) (*2) Gains on sales of stocks of subsidiaries and affiliates.
Consolidated net business profit before credit costs (*3) 44 347,486 362,036 (14,550)(*3) Consolidated net business profit before credit costs = Non-consolidated net business profit before credit costs + Ordinary profits of other subsidiary companies (non-recurring effect adjusted) + Ordinary profits of affiliates (non-recurring effect adjusted) x Ratio of equity holdings - Intra-group transaction (dividends, etc.)
into consideration for managerial accounting, are shown in the table below. | ||||
Substantial consolidated gross business profit | 45 | 960,250 | 934,207 | 26,043 |
Substantial net fees and commissions and related profit | 46 | 561,561 | 508,588 | 52,973 |
Substantial general and administrative expenses | 47 | (612,764) | (572,171) | (40,593) |
Consolidated Fee income ratio | 48 | 58.5% | 54.4% | 4.1% |
Net business profit before credit costs | 49 | 102,973 | 73,123 | 29,849 |
Net income attributable to owners of the parent (*5) | 50 | 54,158 | 18,072 | 36,086 |
Total credit costs | 51 | (2,481) | (1,488) | (992) |
Net gains (losses) on stocks | 52 | (7,459) | 7,502 | (14,961) |
(*4) Differences between "Consolidated" and "Non-consolidated".
(*5) Differences between "Net income attributable to owners of the parent" in "Consolidated" and "Net income" in "Non-consolidated".
Mar. 2026 Mar. 2025 Change
Consolidated subsidiaries 57 58 (1)
Affiliates (subject to the equity method) 31 32 (1)
[Non-consolidated]
(Millions of yen)
(after written-off of principal guaranteed trust a/c) (1 + 24)
(before written-off of principal guaranteed trust a/c)
(*1) Including losses on devaluation of stocks of subsidiaries and affiliates in FY2024.
(*2) FY2025: Gains on sales of stocks of subsidiaries and affiliates, FY2024: Gains on extinguishment of tie-in shares.
FY2025 | FY2024 | Change | ||
Gross business profit 1 | 587,828 | 601,173 | (13,345) | |
Gross business profit 2 | 587,828 | 601,173 | (13,345) | |
Net interest income and related profit | 3 | 6,393 | (63,661) | 70,055 |
Net interest income | 4 | (9,532) | (81,109) | 71,576 |
Domestic | 5 | 236,591 | 254,993 | (18,402) |
International | 6 | (246,123) | (336,102) | 89,979 |
Trust fees from principal guaranteed trust a/c 7 | 15,926 | 17,447 | (1,521) | |
Net fees and commissions and related profit | 8 | 262,553 | 223,448 | 39,104 |
Net fees and commissions | 9 | 152,885 | 119,707 | 33,178 |
Other trust fees | 10 | 109,667 | 103,741 | 5,926 |
Net trading income | 11 | 88,748 | 102,860 | (14,112) |
Net other operating profit | 12 | 230,132 | 338,526 | (108,393) |
Net gains (losses) on foreign exchange transactions | 13 | 293,958 | 368,532 | (74,573) |
Net gains (losses) on bonds | 14 | (52,720) | (41,530) | (11,189) |
Net gains (losses) from derivatives other than for trading or hedging | 15 | (8,031) | 15,641 | (23,672) |
General and administrative expenses | 16 | (343,315) | (312,261) | (31,053) |
Personnel expenses | 17 | (140,629) | (131,969) | (8,660) |
Non-personnel expenses | 18 | (189,130) | (167,913) | (21,217) |
Taxes other than income taxes | 19 | (13,555) | (12,378) | (1,176) |
Net business profit before credit costs (1 + 16) | 20 | 244,512 | 288,912 | (44,399) |
Core net operating profit (20-14) | 21 | 297,233 | 330,443 | (33,209) |
Core net operating profit (excluding gains (losses) on cancellation of investment) 22 | 296,405 | 316,583 | (20,177) | |
Provision of general allowance for loan losses | 23 | (12,608) | (9,421) | (3,187) |
Principal guaranteed trust a/c credit costs | 24 | - | - | - |
Net business profit | 25 | 231,904 | 279,491 | (47,586) |
Net non-recurring profit | 26 | 103,381 | 31,254 | 72,127 |
Banking a/c credit costs | 27 | (11,098) | (14,616) | 3,517 |
Written-off of loans | 28 | (1,418) | (7,015) | 5,596 |
Provision of specific allowance for loan losses | 29 | (8,213) | (7,601) | (612) |
Losses on sales of loans | 30 | (1,466) | - | (1,466) |
Reversal of allowance for loan losses | 31 | - | - | - |
Recoveries of written-off claims | 32 | 2,280 | 899 | 1,380 |
Net gains (losses) on stocks | 33 | 146,343 | 73,917 | 72,425 |
Losses on devaluation of stocks (*1) | 34 | (4,428) | (13,303) | 8,874 |
Others | 35 | (34,143) | (28,946) | (5,196) |
Amortization of net actuarial losses/ prior service cost | 36 | (7,689) | 2,777 | (10,467) |
Provision for contingent loss | 37 | (496) | 205 | (702) |
Losses on investment in partnerships | 38 | (11,520) | (9,992) | (1,528) |
Net gains (losses) on stock related derivatives | 39 | (443) | (1,894) | 1,451 |
Ordinary profit | 40 | 335,285 | 310,745 | 24,540 |
Extraordinary profit | 41 | 24,337 | (5,730) | 30,067 |
Net gains (losses) on disposal of fixed assets | 42 | (900) | (1,106) | 206 |
Impairment loss on fixed assets | 43 | (4,633) | (7,225) | 2,592 |
Other (*2) | 44 | 29,870 | 2,601 | 27,268 |
Income before income taxes | 45 | 359,622 | 305,014 | 54,607 |
Total income taxes | 46 | (96,214) | (65,451) | (30,763) |
Income taxes-current | 47 | (106,215) | (77,768) | (28,447) |
Income taxes-deferred | 48 | 10,001 | 12,316 | (2,315) |
Net income | 49 | 263,408 | 239,563 | 23,844 |
Total credit costs (23 + 24 + 27 + 31 + 32) | 50 | (21,427) | (23,138) | 1,711 |
Overhead ratio (-16/1) | 51 | 58.40% | 51.94% | 6.46% |
2. Yields and margins
Domestic banking a/c
[Non-consolidated]
(%)
FY2025
2HFY2025
1HFY2025
FY2024
Change from FY2024
Average yield on interest-earning assets (A)
0.95
0.97
0.92
0.70
0.25
Loans and bills discounted (B)
1.09
1.14
1.03
0.79
0.30
Securities
1.74
1.48
2.04
2.30
(0.56)
Average yield on interest-bearing liabilities (C)
0.52
0.59
0.45
0.21
0.31
Deposits (D)
0.40
0.47
0.33
0.14
0.26
Gross margin (A) - (C)
0.43
0.38
0.47
0.49
(0.06)
Loan-deposit margin (B) - (D)
0.69
0.67
0.70
0.65
0.04
Domestic banking a/c and principal guaranteed trust a/c combined
[Non-consolidated]
(%)
FY2025 | 2HFY2025 | 1HFY2025 | FY2024 | Change from FY2024 | |
Average yield on interest-earning assets (A) | 0.95 | 0.97 | 0.92 | 0.70 | 0.25 |
Loans and bills discounted (B) | 1.09 | 1.14 | 1.03 | 0.79 | 0.30 |
Securities | 1.74 | 1.48 | 2.04 | 2.30 | (0.56) |
Average yield on interest-bearing liabilities (C) | 0.49 | 0.56 | 0.42 | 0.18 | 0.31 |
Deposits and Trust Principal (D) | 0.39 | 0.45 | 0.33 | 0.14 | 0.25 |
Gross margin (A) - (C) | 0.46 | 0.41 | 0.50 | 0.52 | (0.06) |
Loan-deposit margin (B) - (D) | 0.70 | 0.69 | 0.70 | 0.65 | 0.05 |
3. Net gains/ losses on securities | |||||
[Consolidated] | (Millions of yen) | ||||
FY2025 | FY2024 | Change | |||
Net gains (losses) on bonds | (51,869) | (41,523) | (10,345) | ||
Gains on sales of bonds | 18,841 | 11,535 | 7,306 | ||
Gains on redemption of bonds | 93 | 10 | 83 | ||
Losses on sales of bonds | (69,813) | (52,765) | (17,047) | ||
Losses on redemption of bonds | (1) | (257) | 255 | ||
Losses on devaluation of bonds | (990) | (46) | (943) | ||
Net gains (losses) on stocks | 138,883 | 81,420 | 57,463 | ||
Gains on sales of stocks | 175,083 | 142,739 | 32,343 | ||
Losses on sales of stocks | (32,071) | (58,911) | 26,839 | ||
Losses on devaluation of stocks | (4,127) | (2,408) | (1,719) | ||
[Non-consolidated] | |||||
(Millions of yen) | |||||
FY2025 | FY2024 | Change | |||
Net gains (losses) on bonds | (52,720) | (41,530) | (11,189) | ||
Gains on sales of bonds | 17,968 | 11,172 | 6,796 | ||
Gains on redemption of bonds | 0 | 9 | (9) | ||
Losses on sales of bonds | (69,698) | (52,665) | (17,033) | ||
Losses on redemption of bonds | - | - | - | ||
Losses on devaluation of bonds | (990) | (46) | (943) | ||
Net gains (losses) on stocks | 146,343 | 73,917 | 72,425 | ||
Gains on sales of stocks | 181,920 | 146,418 | 35,501 | ||
Losses on sales of stocks | (31,148) | (59,197) | 28,049 | ||
Losses on devaluation of stocks (*) | (4,428) | (13,303) | 8,874 | ||
(*) Including losses on devaluation of stocks of subsidiaries and affiliates in FY2024.