14th May 2025 10:17
(Alliance News) - 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 JPY1.178 trillion, around USD7.96 billion, from JPY962.95 billion a year before. Diluted earnings per share climbed to JPY301.48 from JPY241.45.
Ordinary income rose 8.8% year-on-year to JPY10.175 trillion from JPY9.354 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 JPY1.300 trillion in the current financial year ending March 2026, a 10% year-on-year increase, and EPS of JPY338.19.
As of March 31, total assets stood at JPY306.28 trillion, up JPY11.05 trillion from the prior year. Loans and bills discounted rose to JPY111.136 trillion, while deposits reached JPY171.500 trillion.
Sumitomo Mitsui declared a total dividend of JPY270 per share for financial 2024 and JPY366 per share for financial 2025 on a pre-split basis.
The higher figure for the latest year includes a JPY180 second-quarter dividend paid before the company's three-for-one stock split in October 2024, and a JPY62 fourth-quarter dividend paid after the split, which is equivalent to JPY186 on a pre-split basis.
The total annual dividend payout for fiscal 2025 amounted to JPY475.06 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 JPY136 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 JPY68.
Sumitomo Mitsui shares closed 2.1% higher at JPY3,632.00 in Tokyo on Tuesday.
By Eva Castanedo, Alliance News reporter
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