Sumitomo Mitsui Financial Group (8316) Q1 2025 earnings summary

Executive summary

• Ordinary income rose 11.0% year-over-year to ¥2,522.6 billion for the quarter ended June 30, 2024.

• Ordinary profit increased 49.2% year-over-year to ¥520.9 billion, and profit attributable to owners of parent grew 49.7% to ¥371.4 billion.

• Earnings per share reached ¥283.09, up from ¥185.69 in the same quarter last year.

Financial highlights

• Consolidated gross profit increased to ¥1,029.8 billion, up ¥154.5 billion year-over-year.

• Net interest income rose to ¥524.2 billion, and net fees and commissions to ¥375.3 billion.

• General and administrative expenses increased to ¥592.4 billion, up ¥57.3 billion year-over-year.

• Total assets grew to ¥301.99 trillion as of June 30, 2024, from ¥295.24 trillion at March 31, 2024.

• Net assets increased to ¥15.09 trillion from ¥14.80 trillion at the previous fiscal year-end.

Outlook and guidance

• Full-year profit attributable to owners of parent forecast at ¥1,060 billion, up 10.1% from the previous year.

• Forecasted earnings per share for the year is ¥270.98, reflecting the impact of a planned three-for-one stock split.

• Dividend forecast remains unchanged at ¥330 per share before the stock split, or ¥110 per share after the split.