Financial Results for the Six Months Ended September 30, 2016 [Japanese GAAP] (Consolidated)
Stock exchange listings: Tokyo and Nagoya (Code: 8309)
URL: http://www.smth.jp/en/index.html
Representative: Kunitaro Kitamura, President
November 14, 2016
Contact: Kiyomitsu Asahi, Executive Officer, General Manager of Financial Planning Department TEL +81-3-3286-8354
Filing date of quarterly securities report (Shihanki Hokokusyo) (Scheduled): November 28, 2016 Specific trading accounts: Established
Dividend payment date: December 2, 2016
Explanatory material: Prepared
Briefing on financial results: Scheduled (for institutional investors and analysts)
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Consolidated Financial Results (for the Six Months Ended September 30, 2016)
(Amounts less than one million yen are rounded down.)
Operating Results (%: Changes from the same period in the previous fiscal year)
Ordinary Income
Ordinary Profit
Net Income Attributable to Owners of the Parent
Six Months Ended
Millions of Yen %
Millions of Yen %
Millions of Yen %
September 30, 2016
594,221 6.2
137,467 0.1
87,922 2.2
September 30, 2015
559,650 (3.4)
137,276 (9.9)
86,001 2.7
(Note) Comprehensive Income:
Six months ended September 30, 2016 ¥29,007 million, (47.0)%
Six months ended September 30, 2015 ¥54,749 million, (69.3)%
Net Income
per Share of Common Stock
Net Income
per Share of Common Stock (Fully Diluted)
Six Months Ended
Yen
Yen
September 30, 2016
229.51
229.45
September 30, 2015
222.89
222.84
* SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. Net income per share of common stock and net income per share of common stock (fully diluted) are calculated as if the consolidation of shares had occurred at the beginning of the fiscal year ended March 31, 2016.
Financial Position
Total Assets
Net Assets
Net Assets to Total Assets Ratio
Net Assets per Share of Common Stock
As of
September 30, 2016
March 31, 2016
Millions of Yen
Millions of Yen
%
Yen
59,479,751
2,695,744
4.0
6,190.16
58,229,948
2,704,511
4.1
6,181.19
(Reference) Shareholders' Equity:
As of September 30, 2016 ¥2,368,033 million As of March 31, 2016 ¥2,376,973 million
(Note 1) Net Assets to Total Assets Ratio = (Net Assets - Subscription Rights to Shares - Non-Controlling Interests) / Total Assets
Net Assets to Total Assets Ratio stated above is different from a capital adequacy ratio prescribed in the notification of the Financial Services Agency with respect to the capital adequacy ratio.
(Note 2) SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. Net asset per share of common stock is calculated as if the consolidation of shares had occurred at the beginning of the fiscal year ended March 31, 2016.
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Cash Dividends per Share of Common Stock
Annual Cash Dividends per Share of Common Stock
1st Quarter- End
2nd Quarter- End
3rd Quarter- End
Fiscal Year- End
Total
Fiscal Year
Ended March 31, 2016
Ending March 31, 2017
―
―
Yen
Yen
―
Yen
Yen
Yen
6.50
6.50
13.00
6.50
Ending March 31, 2017 (Forecast)
―
65.00
―
(Note 1) Revision of latest announced estimates for cash dividends per share of common stock: None
(Note 2) SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. The financial results for the three months ended June 30, 2016, which were released on July 28, 2016, reported ¥6.50 of the year-end cash dividends per share of common stock for the fiscal year ending March 31, 2017 (forecast), not taking into account the consolidation of shares. However, the financial results for the six months ended September 30, 2016, released today report ¥65.00 of the year-end cash dividends per share of common stock, reflecting an effect of the consolidation of shares.
The consolidation of shares remains the same as in the announcement released on May 12, 2016, and this stock consolidation does not constitute as a forecast revision to the total amount of cash dividends.
For further details, please refer to "Explanation Concerning the Appropriate Use of the Forecasts for Results of Operations and Other Special Matters" on page 2.
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Consolidated Earnings Forecast (for the Fiscal Year Ending March 31, 2017)
(%: Changes from the same period in the previous fiscal year)
Ordinary Profit
Net Income Attributable to Owners of the Parent
Net Income per Share of Common Stock
Fiscal Year Ending
March 31, 2017
Millions of Yen %
265,000 (4.7)
Millions of Yen %
170,000 1.9
Yen
444.39
(Note) Revision of latest announced forecast of consolidated earnings: Yes
* Notes Changes in Significant Subsidiaries during the Six Months Ended September 30, 2016: None
(Changes in "specified subsidiaries" resulted in changes in the scope of consolidation)
Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements
Changes in accounting policies due to the revision of accounting standards: Yes
Changes in accounting policies other than 1) above: None
Changes in accounting estimates: None
Restatements: None
(Note) For further details, please refer to "2. Matters Relating to Summary Information (Notes)" on page 3 of Accompanying Materials.
As of September 30, 2016
390,348,640 shares
As of March 31, 2016
390,348,640 shares
As of September 30, 2016
7,800,869 shares
As of March 31, 2016
5,799,178 shares
For the six months ended September 30, 2016
383,094,938 shares
For the six months ended September 30, 2015
385,853,385 shares
Number of Shares Issued (Common Stock)
Number of shares issued (including treasury stock):
Number of treasury stock:
Average number of outstanding issued shares:
Operating Results (%: Changes from the previous first half)
Operating Income
Operating Profit
Ordinary Profit
Net Income
Net Income per Share of Common Stock
Six Months Ended
Millions of Yen %
Millions of Yen %
Millions of Yen %
Millions of Yen %
Yen
September 30, 2016
36,652 (2.8)
35,560 (2.8)
32,426 (0.7)
32,425 (0.7)
84.64
September 30, 2015
37,711 14.4
36,580 15.6
32,649 15.3
32,649 15.3
84.62
* SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. Net income per share of common stock is calculated as if the consolidation of shares had occurred at the beginning of the fiscal year ended March 31, 2016.
Financial Position
Qualitative Information Related to the Consolidated Results of Operations
For the six months ended September 30, 2016, "Net Business Profit Before Credit Costs" decreased by ¥10.6 billion year on year to ¥146.1 billion. This was primarily due to a decrease in "Net Interest Income and Related Profit" of Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank) despite an increase in profits from consolidated subsidiaries.
Ordinary Profit remained at the same level as the same period of the previous fiscal year at ¥137.4 billion for the six months ended September 30, 2016, partly due to improvements in "Net Gains on Stocks." "Net Income Attributable to Owners of the Parent" for the period increased by ¥1.9 billion year on year to ¥87.9 billion.
(Reference)
SuMi TRUST Holdings (Consolidated)
(Billions of Yen)
Six Months Ended
September 30, 2016
Changes from the Six Months Ended
September 30, 2015
Six Months Ended
September 30, 2015
Net Business Profit Before Credit Costs
146.1
(10.6)
156.7
Ordinary Profit
137.4
0.1
137.2
Net Income Attributable to Owners of the Parent
87.9
1.9
86.0
Credit Costs
(expenses are in parentheses)
0.7
0.7
0.0
Net Gains on Stocks
9.9
11.4
(1.5)
SuMi TRUST Bank (Non-Consolidated)
(Billions of Yen)
Six Months Ended
September 30, 2016
Changes from the Six Months Ended
September 30, 2015
Six Months Ended
September 30, 2015
Gross Business Profit Before Credit Costs
221.5
(18.1)
239.7
General and Administrative Expenses (expenses are in parentheses)
(115.4)
3.4
(118.8)
Net Business Profit Before Credit Costs
106.1
(14.7)
120.8
Ordinary Profit
101.2
(0.4)
101.6
Net Income
69.8
0.8
69.0
Credit Costs
(expenses are in parentheses)
2.6
2.7
(0.1)
Net Gains on Stocks
10.1
11.6
(1.4)
Qualitative Information Related to the Consolidated Financial Position
As of September 30, 2016, consolidated "Total Assets" increased by ¥1,249.8 billion to ¥59,479.7 billion and consolidated "Total Net Assets" decreased by ¥8.7 billion to ¥2,695.7 billion from the end of the previous fiscal year.
In particular, "Cash and Due from Banks" increased by ¥ 1,369.0 billion to ¥ 21,293.5 billion, "Loans and Bills Discounted" decreased by ¥ 114.5 billion to ¥ 27,411.3 billion, "Securities" increased by ¥ 358.9 billion to ¥ 5,285.1 billion, and "Deposits" increased by ¥6,128.0 billion to ¥32,829.9 billion from the end of the previous fiscal year.
Qualitative Information Related to the Consolidated Earnings Forecasts
* SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. The number of shares issued, the number of treasury stock, and the average number of outstanding issued shares are calculated as if the consolidation of shares occurred at the beginning of the fiscal year ended March 31, 2016.
Non-Consolidated Financial Results (for the Six Months Ended September 30, 2016)Total Assets | Net Assets | Net Assets to Total Assets Ratio | |
As of September 30, 2016 March 31, 2016 | Millions of Yen 1,924,619 1,824,180 | Millions of Yen 1,494,246 1,493,582 | % 77.6 81.9 |
(Reference) Shareholders' Equity: September 30, 2016 ¥1,493,661 million
March 31, 2016 ¥1,493,160 million
(Note) Net Assets to Total Assets Ratio = (Net Assets - Subscription Rights to Shares) / Total Assets
Statement Concerning the Status of the Interim Audit Procedures
These consolidated financial results for the six months ended September 30, 2016, are out of the scope of the interim audit procedures required by the Financial Instruments and Exchange Act. Therefore, the interim audit procedures on the interim consolidated financial statements have not been completed at the time of disclosure of these consolidated financial results for the six months ended September 30, 2016.
Explanation Concerning the Appropriate Use of the Forecasts for Results of Operations and Other Special Matters
The forecasts for results of operations presented in this report are based on the information currently available to SuMi TRUST Holdings and certain reasonable assumptions. Actual results may differ significantly from the forecasts due to various factors.
As a specified business entity (a company engaged in the specified businesses set forth in Article 17-15(2) of the Cabinet Office Ordinance on Disclosure of Corporate Affairs, etc.), SuMi TRUST Holdings has prepared the interim consolidated financial statements and the interim non-consolidated financial statements for the six months ended September 30, 2016.
A briefing on financial results will be held for institutional investors and analysts. The contents of the meeting, such as explanations about financial results (audio), will be posted on SuMi TRUST Holdings' website, together with the explanatory material to be used on the day.
SuMi TRUST Holdings consolidated its shares with a ratio of ten shares of common stock into one share on October 1, 2016. The cash dividends and net income per share of common stock for the fiscal year ending March 31, 2017, represent estimates, which are calculated by taking into account the consolidation of shares announced on May 12, 2016.
Assuming that the share consolidation announced on May 12, 2016, was conducted at the beginning of the fiscal year ending March 31, 2017, the total annual cash dividends per share of common stock will be ¥130 (¥65 of cash dividends at the second quarter-end) for the fiscal year ending March 31, 2017. The cash dividends per share of common stock for the fiscal year ending March 31, 2017, at the fiscal year-end are reported as ¥65, although this should not be taken as a forecast revision to the total amount of cash dividends.
[Accompanying Materials]
Table of Contents
1. Qualitative Information Related to the Consolidated Financial Statements | -------- | 2 |
(1) Qualitative Information Related to the Consolidated Results of Operations | -------- | 2 |
(2) Qualitative Information Related to the Consolidated Financial Position | -------- | 2 |
(3) Qualitative Information Related to the Consolidated Earnings Forecasts | -------- | 2 |
2. Matters Relating to Summary Information (Notes) | -------- | 3 |
Changes in Accounting Policies, Changes in Accounting Estimates, and Restatements | -------- | 3 |
3. Interim Consolidated Financial Statements | -------- | 4 |
(1) Interim Consolidated Balance Sheets | -------- | 4 |
(2) Interim Consolidated Statements of Income and Consolidated Statements of Comprehensive Income | -------- | 6 |
Interim Consolidated Statements of Income | -------- | 6 |
Interim Consolidated Statements of Comprehensive Income | -------- | 7 |
(3) Interim Consolidated Statements of Changes in Net Assets | -------- | 8 |
(4) Notes on Going Concern Assumptions | -------- | 10 |
(5) Notes on Significant Subsequent Events | -------- | 10 |
4. Interim Non-Consolidated Financial Statements | -------- | 11 |
(1) Interim Non-Consolidated Balance Sheets | -------- | 11 |
(2) Interim Non-Consolidated Statements of Income | -------- | 12 |
(3) Interim Non-Consolidated Statements of Changes in Net Assets | -------- | 13 |
(4) Notes on Going Concern Assumptions | -------- | 15 |
(5) Notes on Significant Subsequent Events | -------- | 15 |
The consolidated earnings forecasts for the fiscal year ending March 31, 2017, ("Ordinary Profit": ¥ 255.0 billion, "Net Income Attributable to Owners of the Parent": ¥170.0 billion), which were announced on May 12, 2016, have been updated to reflect the results for the six months ended September 30, 2016. The "Ordinary Profit" is increased by ¥10.0 billion to ¥265.0 billion but the "Net Income Attributable to Owners of the Parent" remains the same as ¥170.0 billion.
Sumitomo Mitsui Trust Holdings Inc. published this content on 14 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 November 2016 07:47:10 UTC.
Original documenthttp://www.smth.jp/en/ir/fs/1609/E1609_01.pdf
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