Explanatory Material
Fiscal Year 2023 ended on Mar. 31, 2024
Table of Contents | ||
Financial figures | ||
1. | Status of profit and loss--------- | 1-2 |
2. | Breakdown of profit by business group--------- | 3 |
3. | Yields and margins--------- | 4 |
4. | Net gains on securities--------- | 4 |
5. | Unrealized gains/ losses on investment securities--------- | 5-6 |
6. | Maturity ladder of securities--------- | 7 |
7. | Shareholdings--------- | 7 |
8. | Deferred unrealized gains/ losses of derivative transactions qualified for hedge accounting --------- | 7 |
9. | BIS capital adequacy ratio (Basel III, international standard)--------- | 8-9 |
10. | Return on equity (ROE)--------- | 9 |
11. | Loans and Deposits (Banking a/c and principal guaranteed trust a/c combined)--------- | 10 |
12. | Loans (Banking a/c and principal guaranteed trust a/c combined)--------- | 11 |
13. | Non-Performing Loans (NPLs) based on Banking Act and Reconstruction Act--------- | 12-13 |
(Banking a/c and principal guaranteed trust a/c combined) | ||
14. | Self-Assessment and Non-Performing Loans (NPLs) based on Banking Act and Reconstruction Act --------- | 13 |
(Banking a/c and principal guaranteed trust a/c combined) | ||
15. | Allowance for loan losses--------- | 14 |
16. | Final disposal of non-performing loans (Banking a/c and principal guaranteed trust a/c combined) --------- | 15 |
17. | Retirement benefits--------- | 16 |
18. | Deferred tax assets--------- | 17 |
Other referential financial figures of SuMi TRUST Bank--------- | 18-20 |
Sumitomo MitsuiTrust Holdings (Consolidated): "SuMi TRUST Holdings"or"Consolidated"
Sumitomo Mitsui Trust Bank (Non-consolidated): "SuMi TRUST Bank" or "Non-Consolidated"
Legal Disclaimer
Regarding 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 Holdings, Inc. hereby cautions against sole reliance on such forward-looking statements in making investment decisions.
Sumitomo Mitsui Trust Holdings, Inc.
Financial figures
1. Status of profit and loss
[Consolidated] | (Millions of yen) | ||||
FY2023 | FY2022 | Change | |||
Consolidated gross business profit (*1) | 1 | 796,460 | 741,814 | 54,646 | |
Consolidated gross business profit | 2 | 796,460 | 741,814 | 54,646 | |
(after written-off of principal guaranteed trust a/c) (1 + 20) | |||||
Net interest income and related profit | 3 | (99,231) | 128,997 | (228,228) | |
Net interest income | 4 | (120,387) | 108,851 | (229,239) | |
Trust fees from principal guaranteed trust a/c | 5 | 21,155 | 20,145 | 1,010 | |
(before written-off of principal guaranteed trust a/c) | |||||
433,344 | |||||
Net fees and commissions and related profit | 6 | 407,068 | 26,275 | ||
Net fees and commissions | 7 | 338,230 | 317,492 | 20,738 | |
Other trust fees | 8 | 95,114 | 89,576 | 5,537 | |
Net trading profit | 9 | 75,917 | 10,424 | 65,492 | |
Net other operating profit | 10 | 386,429 | 195,323 | 191,105 | |
Net gains on foreign exchange transactions | 11 | 349,405 | 199,670 | 149,734 | |
Net gains on bonds | 12 | 6,966 | (25,088) | 32,054 | |
Net gains from derivatives other than for trading or hedging | 13 | 8,127 | 1,093 | 7,033 | |
General and administrative expenses | 14 | (500,672) | (456,075) | (44,596) | |
(excluding amortization of goodwill) | 15 | (493,648) | (448,073) | (45,574) | |
Personnel expenses | 16 | (224,945) | (206,424) | (18,520) | |
Non-personnel expenses excluding taxes | 17 | (261,926) | (235,310) | (26,616) | |
Taxes other than income taxes | 18 | (13,800) | (14,340) | 540 | |
Provision of general allowance for loan losses | 19 | (4,121) | 3,563 | (7,685) | |
Principal guaranteed trust a/c credit costs | 20 | - | - | - | |
Banking a/c credit costs | 21 | (8,996) | (15,164) | 6,167 | |
Written-off of loans | 22 | (5,571) | (9,742) | 4,170 | |
Provision of specific allowance for loan losses | 23 | (3,425) | (5,110) | 1,685 | |
Losses on sales of loans | 24 | - | (311) | 311 | |
Reversal of allowance for loan losses | 25 | - | - | - | |
Recoveries of written-off claims | 26 | 1,240 | 1,123 | 116 | |
Net gains on stocks | 27 | (188,508) | 3,080 | (191,588) | |
Losses on devaluation of stocks | 28 | (2,028) | (1,642) | (386) | |
Net income from affiliates by equity method | 29 | 18,733 | 18,102 | 631 | |
Others | 30 | (12,808) | (10,602) | (2,205) | |
Ordinary profit | 31 | 101,327 | 285,840 | (184,513) | |
Extraordinary profit | 32 | (3,349) | (14,453) | 11,103 | |
Impairment loss on fixed assets | 33 | (630) | (933) | 302 | |
Impairment loss on fixed assets | 34 | (7,407) | (18,187) | 10,779 | |
Other (*2) | 35 | 4,688 | 4,667 | 21 | |
Income before income tax | 36 | 97,977 | 271,387 | (173,410) | |
Total income taxes | 37 | (17,636) | (79,357) | 61,721 | |
Income taxes-current | 38 | (19,967) | (50,760) | 30,793 | |
Income taxes-deferred | 39 | 2,331 | (28,597) | 30,928 | |
Net income | 40 | 80,340 | 192,029 | (111,688) | |
Net income attributable to non-controlling interests | 41 | (1,141) | (1,029) | (111) | |
Net income attributable to owners of the parent | 42 | 79,199 | 191,000 | (111,800) | |
Total credit costs (19 + 20 + 21 + 25 + 26) | 43 | (11,877) | (10,477) | (1,400) |
(*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 | 338,670 | 324,641 | 14,029 |
(*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.)
(Reference) Major components of "Consolidated net business profit before credit costs" <44>, in which gross income and expense from the affiliates are taken into consideration for managerial accounting, are shown in the table below.
Substantial consolidated gross business profit | 45 | 874,155 | 814,162 | 59,992 |
Substantial net fees and commissions and related profit | 46 | 478,880 | 449,361 | 29,518 |
Substantial general and administrative expenses | 47 | (535,484) | (489,521) | (45,963) |
Consolidated Fee income ratio | 48 | 54.7% | 55.1% | (0.4%) |
non-consolidated financial results | (*4)> | |||
Net business profit before credit costs | 49 | 62,688 | 78,735 | (16,047) |
Net income attributable to owners of the parent (*5) | 50 | 21,359 | 21,864 | (505) |
Total credit costs | 51 | (290) | 1,938 | (2,228) |
Net gains on stocks | 52 | 117 | (2,888) | 3,005 |
(*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. 2024 | Mar. 2023 | Change | ||
Consolidated subsidiaries | 60 | 58 | 2 | |
Affiliates (subject to the equity method) | 30 | 30 | - |
1
Sumitomo Mitsui Trust Holdings, Inc.
[Non-consolidated]
(Millions of yen) | ||||||
FY2023 | FY2022 | Change | ||||
Gross business profit | 1 | 566,104 | 508,198 | 57,906 | ||
Gross business profit | 2 | 566,104 | 508,198 | 57,906 | ||
(after written-off of principal guaranteed trust a/c) (1 + 24) | ||||||
Net interest income and related profit | 3 | (85,460) | 133,406 | (218,867) | ||
Net interest income | 4 | (106,616) | 113,261 | (219,877) | ||
Domestic | 5 | 188,982 | 188,312 | 669 | ||
International | 6 | (295,598) | (75,050) | (220,547) | ||
Trust fees from principal guaranteed trust a/c | 7 | 21,155 | 20,145 | 1,010 | ||
(before written-off of principal guaranteed trust a/c) | ||||||
Net fees and commissions and related profit | 8 | 211,203 | 193,268 | 17,935 | ||
Net fees and commissions | 9 | 116,089 | 103,692 | 12,397 | ||
Other trust fees | 10 | 95,114 | 89,576 | 5,537 | ||
Net trading income | 11 | 75,917 | 10,424 | 65,492 | ||
Net other operating profit | 12 | 364,444 | 171,099 | 193,345 | ||
Net gains on foreign exchange transactions | 13 | 346,772 | 199,248 | 147,523 | ||
Net gains on bonds | 14 | 6,357 | (26,005) | 32,362 | ||
Net gains from derivatives other than for trading or hedging | 15 | 15,235 | 1,053 | 14,182 | ||
General and administrative expenses | 16 | (290,122) | (262,293) | (27,829) | ||
Personnel expenses | 17 | (127,445) | (117,793) | (9,652) | ||
Non-personnel expenses | 18 | (153,658) | (134,648) | (19,009) | ||
Taxes other than income taxes | 19 | (9,018) | (9,851) | 832 | ||
Net business profit before credit costs (1 + 16) | 20 | 275,982 | 245,905 | 30,076 | ||
Core net operating profit (20-14) | 21 | 269,624 | 271,910 | (2,285) | ||
Core net operating profit (excluding gains/(losses) on cancellation of investment) | 22 | 267,963 | 258,372 | 9,590 | ||
Provision of general allowance for loan losses | 23 | (6,426) | 952 | (7,379) | ||
Principal guaranteed trust a/c credit costs | 24 | - | - | - | ||
Net business profit | 25 | 269,555 | 246,857 | 22,697 | ||
Net non-recurring profit | 26 | (210,854) | (22,260) | (188,594) | ||
Banking a/c credit costs | 27 | (6,140) | (14,042) | 7,901 | ||
Written-off of loans | 28 | (4,366) | (8,267) | 3,901 | ||
Provision of specific allowance for loan losses | 29 | (1,774) | (5,463) | 3,689 | ||
Losses on sales of loans | 30 | - | (311) | 311 | ||
Reversal of allowance for loan losses | 31 | - | - | - | ||
Recoveries of written-off claims | 32 | 979 | 674 | 305 | ||
Net gains on stocks | 33 | (188,625) | 5,968 | (194,593) | ||
Losses on devaluation of stocks | 34 | (3,017) | (646) | (2,370) | ||
Others | 35 | (17,068) | (14,860) | (2,207) | ||
Amortization of net actuarial losses/ prior service cost | 36 | (4,761) | (3,839) | (922) | ||
Provision for contingent loss | 37 | (284) | 305 | (590) | ||
Losses on investment in partnerships | 38 | (10,296) | (9,731) | (564) | ||
Net gains on stock related derivatives | 39 | 3,287 | 1,811 | 1,475 | ||
Ordinary profit | 40 | 58,701 | 224,597 | (165,896) | ||
Extraordinary profit | 41 | (3,773) | (311) | (3,461) | ||
Net gains on disposal of fixed assets | 42 | 710 | (858) | 1,568 | ||
Impairment loss on fixed assets | 43 | (7,065) | (16,660) | 9,595 | ||
Other | 44 | 2,581 | 17,207 | (14,625) | ||
Income before income taxes | 45 | 54,927 | 224,286 | (169,358) | ||
Total income taxes | 46 | 2,912 | (55,150) | 58,062 | ||
Income taxes-current | 47 | 2,006 | (31,701) | 33,707 | ||
Income taxes-deferred | 48 | 905 | (23,449) | 24,355 | ||
Net income | 49 | 57,839 | 169,135 | (111,295) | ||
Total credit costs (23 + 24 + 27 + 31 + 32) | 50 | (11,587) | (12,415) | 827 | ||
Overhead ratio (-16/1) | 51 | 51.25% | 51.61% | (0.36%) |
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Sumitomo Mitsui Trust Holdings, Inc.
2. Breakdown of profit by business group
(1) Gross business profit
[Non-consolidated]
(Billions of yen) | ||||
FY2023 | FY2022 | Change | ||
Retail Business | 142.0 | 134.1 | 7.9 | |
Corporate Business (*1) | 196.0 | 166.1 | 29.9 | |
Investor Services Business (*1) | 122.7 | 115.0 | 7.6 | |
Real Estate Business (*1) | 38.6 | 44.1 | (5.4) | |
Global Markets Business | 65.9 | 69.3 | (3.3) | |
Fees paid out for outsourcing (*2) | (55.9) | (51.6) | (4.3) | |
Corporate Business related | (15.6) | (12.5) | (3.0) | |
Investor Services Business related | (40.3) | (39.0) | (1.2) | |
Others (*1), (*3) | 56.5 | 30.9 | 25.5 | |
Gross business profit | 566.1 | 508.1 | 57.9 |
(*1) Changed the attribution segment for gains/losses on some equity investment and other methods since the beginning of this fiscal year.
(*2) "Corporate Business related" is related to stock transfer agency services and "Investor Services Business related" is related to asset adminisitration and asset management, etc.
(*3) Figures for "Others" include costs of capital funding, dividends of shares for cross-shareholdings, general and administrative expenses of headquarters, etc.
-
Net business profit before credit costs
[Consolidated]
(Billions of yen) | |||||||||
FY2023 | FY2022 | Change | |||||||
Retail Business | 40.1 | 41.5 | (1.3) | ||||||
Corporate Business (*1) | 162.9 | 140.8 | 22.1 | ||||||
Investor Services Business (*1) | 62.7 | 57.7 | 5.0 | ||||||
Re | al Estate Business (*1) | 35.6 | 42.1 | (6.4) | |||||
Global Markets Business | 46.3 | 54.1 | (7.8) | ||||||
Asset Management Business (*2) | 17.9 | 22.2 | (4.2) | ||||||
Others (*1), (*3) | (27.1) | (33.9) | 6.7 | ||||||
Net business profit before credit costs | 338.6 | 324.6 | 14.0 |
(*1) Changed the attribution segment for gains/losses on some equity investment and other methods since the beginning of this fiscal year.
(*2) Figures for "Asset Management Business" are combined total of asset management companies (SuMi TRUST AM (consolidated), Nikko AM (consolidated),
(*2) Sky Ocean Asset Management, JP Asset Management.)
(*3) Figures for "Others" include costs of capital funding, dividends of shares for cross-shareholdings, general and administrative expenses of headquarters,
[Non-consolidated]
(Billions of yen) | |||||||||
FY2023 | FY2022 | Change | |||||||
Retail Business | 21.3 | 21.3 | 0.0 | ||||||
Corporate Business (*1) | 130.7 | 111.1 | 19.5 | ||||||
Investor Services Business (*1) | 44.5 | 43.1 | 1.4 | ||||||
Re | al Estate Business (*1) | 27.3 | 33.9 | (6.6) | |||||
Global Markets Business | 46.3 | 54.1 | (7.8) | ||||||
Others (*1), (*2) | 5.6 | (17.8) | 23.5 | ||||||
Net business profit before credit costs | 275.9 | 245.9 | 30.0 |
(*1) Changed the attribution segment for gains/losses on some equity investment and other methods since the beginning of this fiscal year.
(*2) Figures for "Others" include costs of capital funding, dividends of shares for cross-shareholdings, general and administrative expenses of headquarters, etc.
3
Sumitomo Mitsui Trust Holdings, Inc.
3. Yields and margins
(1) Domestic banking a/c [Non-consolidated]
(%) | |||||
FY2023 | 2HFY2023 | 1HFY2023 | FY2022 | Change from | |
FY2022 | |||||
Average yield on interest-earning assets (A) | 0.50 | 0.43 | 0.58 | 0.53 | (0.03) |
Loans and bills discounted (B) | 0.65 | 0.66 | 0.63 | 0.63 | 0.02 |
Securities | 1.95 | 1.07 | 2.97 | 1.91 | 0.04 |
Average yield on interest-bearing liabilities (C) | 0.12 | 0.12 | 0.12 | 0.13 | (0.01) |
Deposits (D) | 0.05 | 0.05 | 0.05 | 0.05 | 0.00 |
Gross margin (A) - (C) | 0.38 | 0.31 | 0.46 | 0.40 | (0.02) |
Loan-deposit margin (B) - (D) | 0.60 | 0.61 | 0.58 | 0.58 | 0.02 |
- Domestic banking a/c and principal guaranteed trust a/c combined
[Non-consolidated]
(%) | |||||
FY2023 | 2HFY2023 | 1HFY2023 | FY2022 | Change from | |
FY2022 | |||||
Average yield on interest-earning assets (A) | 0.50 | 0.43 | 0.58 | 0.53 | (0.03) |
Loans and bills discounted (B) | 0.65 | 0.66 | 0.64 | 0.63 | 0.02 |
Securities | 1.95 | 1.07 | 2.97 | 1.91 | 0.04 |
Average yield on interest-bearing liabilities (C) | 0.08 | 0.07 | 0.08 | 0.08 | (0.00) |
Deposits and Trust Principal (D) | 0.05 | 0.05 | 0.04 | 0.04 | 0.01 |
Gross margin (A) - (C) | 0.42 | 0.36 | 0.50 | 0.45 | (0.03) |
Loan-deposit margin (B) - (D) | 0.60 | 0.61 | 0.60 | 0.59 | 0.01 |
4. Net gains on securities [Consolidated]
(Millions of yen) | ||||
FY2023 | FY2022 | Change | ||
Net gains on bonds | 6,966 | (25,088) | 32,054 | |
Gains on sales of bonds | 14,809 | 4,662 | 10,147 | |
Gains on redemption of bonds | 1 | 121 | (120) | |
Losses on sales of bonds | (7,842) | (29,864) | 22,021 | |
Losses on redemption of bonds | (1) | (6) | 5 | |
Losses on devaluation of bonds | - | (0) | 0 | |
Net gains on stocks | (188,508) | 3,080 | (191,588) | |
Gains on sales of stocks | 124,858 | 88,161 | 36,696 | |
Losses on sales of stocks | (311,337) | (83,439) | (227,898) | |
Losses on devaluation of stocks | (2,028) | (1,642) | (386) | |
[Non-consolidated] | ||||
(Millions of yen) | ||||
FY2023 | FY2022 | Change | ||
Net gains on bonds | 6,357 | (26,005) | 32,362 | |
Gains on sales of bonds | 13,990 | 3,495 | 10,495 | |
Gains on redemption of bonds | 0 | - | 0 | |
Losses on sales of bonds | (7,633) | (29,499) | 21,866 | |
Losses on redemption of bonds | - | - | - | |
Losses on devaluation of bonds | - | (0) | 0 | |
Net gains on stocks | (188,625) | 5,968 | (194,593) | |
Gains on sales of stocks | 125,642 | 89,952 | 35,690 | |
Losses on sales of stocks | (311,250) | (83,337) | (227,913) | |
Losses on devaluation of stocks | (3,017) | (646) | (2,370) |
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Sumitomo Mitsui Trust Holdings, Inc.
5. Unrealized gains/ losses on investment securities
[Consolidated]
(Millions of yen) | |||||||||||||||||
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from Mar. 2023 | ||||||||||||||
Cost | Net | Unrealized | Unrealized | Cost | Net | Cost | Net | Cost | Net | ||||||||
gains | losses | ||||||||||||||||
Available-for-sale securities (*1) | 8,263,021 | 681,778 | 835,293 | (153,514) | 6,695,071 | 502,790 | 5,675,353 | 372,689 | 2,587,668 | 309,088 | |||||||
Japanese stocks (*2) | 443,584 | 769,805 | 782,022 | (12,216) | 511,859 | 670,818 | 495,423 | 577,205 | (51,838) | 192,600 | |||||||
Japanese bonds | 3,803,920 | (11,417) | 1,836 | (13,254) | 2,622,088 | (9,327) | 2,178,588 | (364) | 1,625,331 | (11,053) | |||||||
Government bonds | 3,047,996 | (9,849) | 45 | (9,894) | 1,854,845 | (7,767) | 1,433,514 | (1,514) | 1,614,482 | (8,334) | |||||||
Local government bonds | 43,698 | (587) | 12 | (600) | 41,532 | (809) | 38,572 | (454) | 5,126 | (132) | |||||||
Corporate bonds | 712,225 | (981) | 1,778 | (2,759) | 725,711 | (750) | 706,502 | 1,605 | 5,722 | (2,586) | |||||||
Others | 4,015,516 | (76,609) | 51,434 | (128,043) | 3,561,123 | (158,699) | 3,001,341 | (204,151) | 1,014,175 | 127,541 | |||||||
Held-to-maturity securities | 263,735 | 8,184 | 8,189 | (5) | 315,545 | 8,166 | 299,219 | 9,997 | (35,484) | (1,812) | |||||||
(*1) Not include stocks with no market price and investment partnership etc. | |||||||||||||||||
(*2) Fair value of listed stocks included in "Available-for-sale securities" is determined based on the quoted market price over the consolidated balance sheet date. |
[Non-consolidated]
(Millions of yen) | ||||||||||||||||
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from Mar. 2023 | |||||||||||||
Cost | Net | Unrealized | Unrealized | Cost | Net | Cost | Net | Cost | Net | |||||||
gains | losses | |||||||||||||||
Available-for-sale securities (*1) | 8,089,572 | 688,271 | 839,901 | (151,630) | 6,531,564 | 514,113 | 5,522,549 | 386,238 | 2,567,022 | 302,032 | ||||||
Japanese stocks (*2) | 420,652 | 788,940 | 799,254 | (10,314) | 487,510 | 691,795 | 471,652 | 598,358 | (51,000) | 190,581 | ||||||
Japanese bonds | 3,803,920 | (11,417) | 1,836 | (13,254) | 2,622,088 | (9,327) | 2,178,588 | (364) | 1,625,331 | (11,053) | ||||||
Government bonds | 3,047,996 | (9,849) | 45 | (9,894) | 1,854,845 | (7,767) | 1,433,514 | (1,514) | 1,614,482 | (8,334) | ||||||
Local government bonds | 43,698 | (587) | 12 | (600) | 41,532 | (809) | 38,572 | (454) | 5,126 | (132) | ||||||
Corporate bonds | 712,225 | (981) | 1,778 | (2,759) | 725,711 | (750) | 706,502 | 1,605 | 5,722 | (2,586) | ||||||
Others | 3,864,999 | (89,251) | 38,809 | (128,061) | 3,421,965 | (168,353) | 2,872,308 | (211,756) | 992,690 | 122,505 | ||||||
Held-to-maturity securities | 263,675 | 8,184 | 8,189 | (5) | 315,485 | 8,165 | 299,159 | 9,997 | (35,484) | (1,812) |
(*1) Not include stocks with no market price and investment partnership etc.
(*2) Fair value of listed stocks included in "Available-for-sale securities" is determined based on the quoted market price over the consolidated balance sheet date.
Breakdown of "Available-for-sale securities (Others)" (*1) [Non-consolidated]
(Millions of yen) | ||||||||||||||||
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change | |||||||||||||
Cost | Net | Cost | Net | Cost | Net | Cost | Net | |||||||||
Domestic investment (*2) | 108,934 | 1,358 | 109,988 | 1,713 | 107,893 | 1,803 | 1,040 | (445) | ||||||||
Asset-backed securities | 67,000 | 381 | 69,368 | 537 | 71,614 | 514 | (4,614) | (133) | ||||||||
Others | 41,934 | 977 | 40,620 | 1,176 | 36,279 | 1,288 | 5,655 | (311) | ||||||||
International investment (*2) | 3,156,232 | (50,882) | 2,500,571 | (74,076) | 1,766,255 | (30,041) | 1,389,976 | (20,841) | ||||||||
Foreign government bonds | 3,156,008 | (52,330) | 2,500,350 | (75,390) | 1,765,923 | (31,160) | 1,390,084 | (21,169) | ||||||||
US Treasury | 1,762,489 | (48,797) | 1,067,095 | (61,744) | 650,520 | (17,262) | 1,111,969 | (31,534) | ||||||||
European government bonds (*3) | 29,337 | (2,335) | 24,647 | (3,388) | 22,698 | (2,361) | 6,639 | 26 | ||||||||
US agency MBS | 74,566 | (4,090) | 113,502 | (5,757) | 71,060 | (1,677) | 3,505 | (2,413) | ||||||||
Corporate bonds, etc. (*4) | 1,282,297 | 3,159 | 1,261,383 | (3,553) | 1,014,630 | (9,464) | 267,666 | 12,623 | ||||||||
Foreign stocks and others | 223 | 1,447 | 220 | 1,313 | 331 | 1,119 | (108) | 327 | ||||||||
Others (Investment trust, etc.) (*5) | 599,833 | (39,727) | 811,405 | (95,991) | 998,159 | (183,518) | (398,326) | 143,791 | ||||||||
Total | 3,864,999 | (89,251) | 3,421,965 | (168,353) | 2,872,308 | (211,756) | 992,690 | 122,505 |
(*1) Not include stocks with no market price and investment partnership etc.
(*2) "Domestic investment" and "International investment" are basically categorized by the countries where final exposure exists.
(*3) UK government bonds (Gilts), German government bonds (Bunds), and French government bonds (OATs)
(*4) Corporate bonds which are based on issuer's credit risk.
(*5) "Investment trust" and investment securities uncategorizable into "Domestic investment" or "International investment".
5
Sumitomo Mitsui Trust Holdings, Inc.
Breakdown of "Held-to-maturity securities" [Non-consolidated]
(Millions of yen)
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from Mar. 2023 | ||||||||||
Cost | Net | Cost | Net | Cost | Net | Cost | Net | ||||||
Held-to-maturity securities | 263,675 | 8,184 | 315,485 | 8,165 | 299,159 | 9,997 | (35,484) | (1,812) | |||||
Japanese Government Bonds | 116,836 | 7,845 | 117,025 | 7,994 | 117,214 | 10,766 | (377) | (2,921) | |||||
Japanese Local Government Bonds | - | - | - | - | - | - | - | - | |||||
Japanese Corporate Bonds | 10,700 | 74 | 14,400 | 103 | 14,400 | 126 | (3,700) | (52) | |||||
Others | 136,138 | 264 | 184,060 | 68 | 167,545 | (896) | (31,406) | 1,161 | |||||
Domestic investment (*) | 34,081 | 112 | 36,942 | 203 | 40,005 | 276 | (5,924) | (163) | |||||
International investment (*) | 102,057 | 152 | 147,117 | (135) | 127,539 | (1,172) | (25,481) | 1,325 |
(*) "Domestic investment" and "International investment" are basically categorized by the countries where final exposure exists.
Breakdown of "Stocks with no market price and investment partnership etc." [Non-consolidated]
(Millions of yen)
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from Mar. 2023 | |||||||||
Cost | Net | Cost | Net | Cost | Net | Cost | Net | |||||
Stocks with no market price and | 626,792 | 14,563 | 593,045 | 14,211 | 523,771 | 6,420 | 103,020 | 8,143 | ||||
investment partnership etc. (*1) | ||||||||||||
Japanese stocks | 70,150 | - | 68,748 | - | 66,397 | - | 3,752 | - | ||||
Others | 556,642 | 14,563 | 524,296 | 14,211 | 457,373 | 6,420 | 99,268 | 8,143 | ||||
Domestic investment (*2) | 89,713 | 4,436 | 83,884 | 4,377 | 76,697 | 4,573 | 13,015 | (137) | ||||
International investment (*2) | 466,929 | 10,127 | 440,412 | 9,833 | 380,676 | 1,847 | 86,252 | 8,280 | ||||
(*1) Include unconsolidated subsidiaries etc. |
(*2) "Domestic investment" and "International investment" are basically categorized by the countries where final exposure exists.
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Sumitomo Mitsui Trust Holdings, Inc.
6. Maturity ladder of securities
<"Held-to-maturity securities" and "Available-for-sale securities" with maturities>
[Consolidated]
(Millions of yen)
Mar. 2024 | Mar. 2023 | |||||||||||
Less than | 1 year to | 5 years to | Over | Total | Less than | 1 year to | 5 years to | Over | Total | |||
1 year | 5 years | 10 years | 10 years | 1 year | 5 years | 10 years | 10 years | |||||
Japanese bonds | 616,739 | 2,940,475 | 293,391 | 69,492 | 3,920,099 | 408,325 | 1,575,456 | 268,468 | 57,648 | 2,309,899 | ||
Government bonds | 522,581 | 2,459,110 | 145,137 | 28,214 | 3,155,044 | 350,880 | 1,087,643 | 96,612 | 14,138 | 1,549,273 | ||
Local government bonds | 2,869 | 18,273 | 21,967 | - | 43,110 | 1,674 | 17,283 | 19,159 | - | 38,117 | ||
Corporate bonds | 91,288 | 463,090 | 126,286 | 41,278 | 721,944 | 55,770 | 470,530 | 152,696 | 43,510 | 722,507 | ||
Others | 515,654 | 1,351,553 | 1,066,806 | 873,270 | 3,807,284 | 631,482 | 722,200 | 652,635 | 724,621 | 2,730,940 |
Note: Including NCD in "Cash and Due from Banks" and "Monetary Claims Bought", as well as securities.
[Non-consolidated]
(Millions of yen)
Mar. 2024 | Mar. 2023 | |||||||||||
Less than | 1 year to | 5 years to | Over | Total | Less than | 1 year to | 5 years to | Over | Total | |||
1 year | 5 years | 10 years | 10 years | 1 year | 5 years | 10 years | 10 years | |||||
Japanese bonds | 616,679 | 2,940,475 | 293,391 | 69,492 | 3,920,039 | 408,325 | 1,575,396 | 268,468 | 57,648 | 2,309,839 | ||
Government bonds | 522,521 | 2,459,110 | 145,137 | 28,214 | 3,154,984 | 350,880 | 1,087,583 | 96,612 | 14,138 | 1,549,213 | ||
Local government bonds | 2,869 | 18,273 | 21,967 | - | 43,110 | 1,674 | 17,283 | 19,159 | - | 38,117 | ||
Corporate bonds | 91,288 | 463,090 | 126,286 | 41,278 | 721,944 | 55,770 | 470,530 | 152,696 | 43,510 | 722,507 | ||
Others | 502,665 | 1,283,792 | 1,063,528 | 858,971 | 3,708,957 | 625,635 | 676,475 | 645,969 | 709,141 | 2,657,221 |
Note: Including NCD in "Cash and Due from Banks" and "Monetary Claims Bought", as well as securities.
7. Shareholdings
-
Balance of listed stocks
[Consolidated]
(Billions of yen) | ||||
Mar. 2024 | Mar. 2023 | |||
Cost basis | 443.5 | 495.4 | ||
Fair value basis | 1,213.3 | 1,072.6 |
- Reduction of cross shareholdings
[Consolidated]
(Billions of yen) | ||||||
FY2023 | FY2022 | |||||
Full | 1H | Full | 1H | |||
Cost basis | 79.3 | 19.6 | 52.4 | 9.9 |
Note: Reduction in FY2022 exclude sold and repurchased shares in FY2020 is 46.7 billion yen.
8. Deferred unrealized gains/ losses of derivative transactions qualified for hedge accounting
[Consolidated]
(Millions of yen)
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from | ||
Mar. 2023 | |||||
Interest rate related | (6,648) | (8,663) | (67,827) | 61,179 | |
Interest rate swaps | (6,648) | (8,663) | (67,827) | 61,179 | |
Currency related | (6,451) | 1,558 | 368 | (6,819) | |
Total | (13,100) | (7,104) | (67,459) | 54,359 | |
Note: Before considering tax effect accounting. | |||||
[Non-consolidated] | (Millions of yen) | ||||
Mar. 2024 | Sep. 2023 | Mar. 2023 | Change from | ||
Mar. 2023 | |||||
Interest rate related | (6,844) | (8,979) | (67,953) | 61,108 | |
Interest rate swaps | (6,844) | (8,979) | (67,953) | 61,108 | |
Currency related | (26,953) | (19,715) | (12,541) | (14,412) | |
Total | (33,798) | (28,695) | (80,494) | 46,696 |
Note: Before considering tax effect accounting.
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Sumitomo Mitsui Trust Holdings, Inc.
9. BIS capital adequacy ratio
-
BIS capital adequacy ratio (International standard)
[Consolidated]
(Billions of yen)
Mar. 2024 | Mar. 2023 | Change | |||||||
(Preliminary) | |||||||||
Common Equity Tier 1 capital ratio | (8) / (19) | 1 | 11.35% | 10.79% | 0.6% | ||||
Tier 1 capital ratio | (11) / (19) | 2 | 12.55% | 12.01% | 0.5% | ||||
Total capital ratio | (14) / (19) | 3 | 13.64% | 13.24% | 0.4% | ||||
Directly issued qualifying capital plus retained earnings | 4 | 2,526.7 | 2,547.7 | (21.0) | |||||
Accumulated Other Comprehensive Income ("OCI") | 5 | 539.9 | 204.2 | 335.6 | |||||
Instruments and reserves | 6 | 3,067.5 | 2,752.9 | 314.5 | |||||
Regulatory adjustments | 7 | (373.1) | (243.2) | (129.9) | |||||
Common Equity Tier 1 capital (CET1) | 8 | 2,694.3 | 2,509.7 | 184.6 | |||||
Directly issued qualifying Additional Tier 1 instruments | 9 | 270.0 | 270.0 | - | |||||
Additional Tier 1 capital (AT1) | 10 | 284.4 | 283.7 | 0.7 | |||||
Tier 1 capital (T1 = CET1 + AT1) | 11 | 2,978.8 | 2,793.5 | 185.3 | |||||
Directly issued qualifying Tier 2 instruments | 12 | 253.3 | 270.6 | (17.2) | |||||
Tier 2 capital (T2) | 13 | 260.0 | 287.7 | (27.7) | |||||
Total capital (T1 + T2) | 14 | 3,238.9 | 3,081.2 | 157.6 | |||||
Amount of credit risk-weighted assets | 15 | 21,372.3 | 20,411.9 | 960.3 | |||||
Amount of market risk equivalents | 16 | 1,006.2 | 1,838.2 | (831.9) | |||||
Amount of operational risk equivalents | 17 | 1,352.4 | 1,006.7 | 345.7 | |||||
Floor adjustment | 18 | - | - | - | |||||
Total risk weighted assets | 19 | 23,731.0 | 23,256.8 | 474.1 |
Minimum
requirement (*)
(Mar. 2024)
7.55%
9.05%
11.05%
- Capital conservation buffer, countercyclical capital buffer and surcharge for domestic systemically important banks are taken into account and added to minimum regulatory requirements for each capital ratio.
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Sumitomo Mitsui Trust Holdings Inc. published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 08:25:07 UTC.