Sumitomo Mitsui Trust Group (8309) Q2 2026 earnings summary

Executive summary

• Net income for 1HFY2025 reached a record high of ¥171.3bn, up 29.0% year-over-year, prompting an upward revision of the full-year forecast to ¥295.0bn, a 14.5% increase from the previous year.

• Dividend per share forecast was raised to ¥170, an increase of ¥10 from the initial forecast and ¥15 year-over-year.

• Comprehensive income more than doubled year-over-year, reaching ¥255.0bn, a 123.1% increase.

• Share repurchase of up to ¥30.0bn announced, reflecting strong capital position and shareholder return focus.

Financial highlights

• Net business profit before credit costs rose to ¥181.9bn, up ¥12.3bn year-over-year, with 49% progress toward the full-year target.

• Ordinary profit increased 7.3% year-over-year to ¥196.5bn.

• Net income per share for 1H was ¥242.55, up from ¥184.69 a year earlier.

• Substantial gross business profit increased by ¥27.4bn to ¥478.3bn.

• Total assets increased to ¥82.6 trillion from ¥78.2 trillion at the end of March 2025.

Outlook and guidance

• Full-year net income forecast revised upward to ¥295.0bn, with EPS projected at ¥418.49 and ROE expected in the lower 9% range.

• Dividend per share for FY25 forecast at ¥170, up ¥15 year-over-year.

• Capital utilization enters a new phase, with additional investments and share repurchases planned.