Sumitomo Mitsui Trust Group (8309) Q3 2025 earnings summary

Executive summary

• Changed trade name to Sumitomo Mitsui Trust Group, Inc. on October 1, 2024, marking its 100th anniversary in January 2025.

• Ordinary income rose 16.9% year-over-year to ¥2,077,963 million for the nine months ended December 31, 2024.

• Net income attributable to owners of the parent surged 358.6% year-over-year to ¥225,990 million.

• Upward revision of FY24 net income forecast to ¥250bn, with 95% progress on strategic shareholdings reduction target.

• Dividend per share forecast raised to ¥155, including a ¥10 commemorative dividend, aiming for ROE of 8% or above one year ahead of schedule.

Financial highlights

• Net income for 1-3QFY24 reached ¥225.9bn, up ¥176.7bn year-over-year, achieving 90% of the full-year forecast.

• Net business profit before credit costs rose to ¥272.9bn, up ¥42.3bn year-over-year.

• Net income per share was ¥314.61, reflecting a 2-for-1 stock split effective January 1, 2024.

• Total assets grew to ¥78,320,305 million as of December 31, 2024.

• Net assets per share increased to ¥4,379 as of Dec. 2024.

Outlook and guidance

• FY24 net income forecast revised up by ¥10bn to ¥250bn, with ordinary profit forecast at ¥345bn.

• FY2024 net income attributable to owners of the parent is forecast at ¥250,000 million, up 215.7% from the previous year.

• Net income per share for the full year is projected at ¥348.90.

• Strategic shareholdings reduction target of ¥150bn to be achieved one year early; new target to be announced in May 2025.

• Dividend payout ratio to remain at 40% or above, with flexible share repurchases based on capital adequacy.