Sumitomo Mitsui Financial Group Inc on Wednesday reported a double-digit increase in profit and earnings per share for its recently completed financial year and forecasted further growth for the year ahead.
The Tokyo-based financial services company said profit attributable to owners of the parent for the year that ended March 31 rose 22% to JP¥1.178 trillion, around $7.96 billion, from JP¥962.95 billion a year before. Diluted earnings per share climbed to JP¥301.48 from JP¥241.45.
Ordinary income rose 8.8% year-on-year to JP¥10.175 trillion from JP¥9.354 trillion, supported by higher loan and deposit income domestically and overseas, stronger performance in wealth management and consumer finance, and increased fee income from wholesale operations.
Looking ahead, Sumitomo Mitsui expects profit attributable to owners to reach JP¥1.300 trillion in the current financial year ending March 2026, a 10% year-on-year increase, and EPS of JP¥338.19.
As of March 31, total assets stood at JP¥306.28 trillion, up JP¥11.05 trillion from the prior year. Loans and bills discounted rose to JP¥111.136 trillion, while deposits reached JP¥171.500 trillion.
Sumitomo Mitsui declared a total dividend of JP¥270 per share for financial 2024 and JP¥366 per share for financial 2025 on a pre-split basis.
The higher figure for the latest year includes a JP¥180 second-quarter dividend paid before the company’s three-for-one stock split in October 2024, and a JP¥62 fourth-quarter dividend paid after the split, which is equivalent to JP¥186 on a pre-split basis.
The total annual dividend payout for fiscal 2025 amounted to JP¥475.06 billion, reflecting a payout ratio of around 40%, up from 37% the year before.
For the current financial year ending March 2026, the company forecasts an annual dividend of JP¥136 per share on a post-split basis, implying an about 11% annual increase and a similar payout ratio of around 40%. It will be paid in two equal interim and year-end payments of JP¥68.
Sumitomo Mitsui shares closed 2.1% higher at JP¥3,632.00 in Tokyo on Tuesday.
Copyright 2025 Alliance News Ltd. All Rights Reserved.