Sumitomo Mitsui Trust, The Current Fiscal Year Net Income Revised Upward by 4%, Exceeded Record Profit Forecast, Dividend Revised Upward by 10 yen

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Fri Jan 31, 2025 4:00 pm JST Earnings

8309 Sumitomo Mitsui Trust Group, Inc. 【J-GAAP】

Earnings Report

Sumitomo Mitsui Trust Group, Inc. <8309> [TSE Prime] announced its financial results after the market closed on January 31st (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 4.6 times that of the same period last year, reaching 225 billion yen.

In addition, the full-year consolidated net income has been revised upward 4.2%, from the previous forecast of 240 billion yen to 250 billion yen (compared to 79.1 billion yen in the previous period), increasing the growth rate from 3.0 times to 3.2 times. The company has further increased its previous forecast of record profits for the first time in two years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 9.3%, from the previous forecast of 107 billion yen to 117 billion yen (compared to 35.1 billion yen in the same period of the previous year), increasing the growth rate from 3.1 times to 3.3 times.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 145 yen to 155 yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income surged 18 times that of the same period last year, reaching 93.1 billion yen.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	1,252,182	ー	203,254	145,690	196.8	71.1	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	1,778,018	ー	55,783	49,281	67.9	55.1	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	2,077,963	ー	312,581	225,990	314.6	ー	Jan 31, 2025	J-GAAP
YoY	+16.9%	－	+460.4%	+358.6%	+363.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	ー	ー	ー	107,176	150.8	72.50	Nov 12, 2024	J-GAAP
Oct - Mar, 2024 New	ー	ー	ー	117,176	164.8	82.50	Jan 31, 2025	J-GAAP
Revision Rate	－	－	－	+9.3%	+9.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	ー	240,000	337.6	145	May 14, 2024	J-GAAP
Mar, 2025 New	ー	ー	ー	250,000	351.6	155	Jan 31, 2025	J-GAAP
Revision Rate	－	－	－	+4.2%	+4.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,284,298	ー	49,753	35,136	48.4	55	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	ー	117,176	164.8	82.50	Jan 31, 2025	J-GAAP
YoY	－	－	－	+233.5%	+240.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,819,060	ー	285,840	191,000	258.6	105	May 12, 2023	J-GAAP
Mar, 2024	2,475,303	ー	101,327	79,199	109.2	110	May 14, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	ー	250,000	351.6	155	Jan 31, 2025	J-GAAP
YoY	－	－	－	+215.7%	+222.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	587,013	ー	4,209	5,218	7.2	0.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	697,285	ー	45,544	29,918	41.2	0.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	669,098	ー	91,485	66,699	92.7	0.0	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	665,418	ー	91,518	66,125	92.0	0.0	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	743,447	ー	129,578	93,166	129.7	0.0	Jan 31, 2025	J-GAAP
YoY	+26.6%	－	+2,978.6%	+1,685.5%	+1,703.9%