The Sumitomo The Sumitomo e Sumitomo Trust e Sumitomo Trust ust ust & Ban & B & B & B & B & Ban & B & B anki anki king ki king ki ng C ng C C Co., Co., C o., Ltd o., Ltd Ltd. Ltd Ltd. Ltd Ltd Ltd Explanatory Material for Financial Results for 3QFY2009 Financial Results for 3QFY2009 February 3, 2010
This presentation material contains information that constitutes forward- looking statements. Such forward-looking statements are not guarantees g g g of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors including changes in managerial circumstances. This presentation does not constitute an offer to sell or a solicitation of an offer to subscribe for or purchase any securities.
中表紙 3QFY2009 financial results and financial condition and financial condition 1
3QFY2009 financial results (April 2009 – December 2009) Net income (consolidated) increased by 31.8 billion yen from 3QFY2008 to 52.2 billion yen mainly due to the decrease in total substantial credit costs Net business profit before credit costs (non-consolidated) decreased by 23.8 billion yen from 3QFY2008 to 125.1 billion yen mainly due to the decrease in market-related profit which recorded a Q y y p high level in the previous fiscal year 3QFY2008 3QFY2009 Change Cumulative total Cumulative total (B) - (A) 1 - 2Q 3Q (in billions of Yen) (in billions of Yen) (A) (A) (B) (B) <C <Consolidated> lid t d> Net business profit before credit costs 181.2 87.7 53.2 141.0 -40.2 (Total substantial credit costs (*1) ) (-96.7) (-40.8) (12.6) (-28.1) (68.5) Ordinary profit 52.0 33.4 58.7 92.1 40.0 Extraordinary profit (*2) 3.7 3 7 9.5 9 5 0 1 0.1 9 7 9.7 6 0 6.0 Extraordinary profit Net income 20.4 19.2 32.9 52.2 31.8 <Non-consolidated> (in billions of Yen) Net business profit before credit costs 148.9 81.6 43.5 125.1 -23.8 123.9 90.7 49.2 139.9 15.9 Net interest income (Incl. net trust fees from principal guaranteed trust a/c) (*2) Net fees & commissions (Incl. Other trust fees) 60.5 41.7 17.6 59.4 -1.0 Other profits 62.5 13.7 7.5 21.2 -41.3 General and administrative expenses -98.1 -64.6 -30.8 -95.5 2.5 Total credit costs -23.0 -27.2 12.8 -14.4 8.6 (Total substantial credit costs (*1) ) (-65.3) (-32.7) (14.9) (-17.7) (47.6) Net gains on sales of stocks and other securities 35.7 -6.3 -1.8 -8.1 27.5 Ordinary profit 52.4 31.1 45.2 76.4 23.9 Extraordinary profit Extraordinary profit 1 9 1.9 0 1 0.1 6 3 6.3 6 5 6.5 4 6 4.6 Net income 34.9 19.3 31.2 50.5 15.5 (*1) Total substantial credit costs” is a sum of “Total credit costs”, costs in “Net gains on sales of stocks and other securities” and “Other non-recurring profit” w hich are related to investment in securities of domestic and overseas credit, and affiliates' total credit costs included in "Net income from affiliates by equity method". (*2) The gain on retirement of perpetual subordinated bonds (8.9 billion yen) w hich w as posted in "Extraordinary profit" on consolidated basis w as posted in "Net interest income" as dividend income from a subsidiary (9.5 billion yen) on non-consolidated basis. 2
Contribution of major group companies to consolidated financial results Contribution to net business profit before credit costs decreased by 5.3 billion yen from 3QFY2008, while contribution to net income increased significantly by 19.9 billion yen mainly due to the decrease in total credit costs of First Credit Corporation (before consolidated adjustments, excluding the effect of special factor) Nikko Asset Management (consolidated on Oct.1, 2009) contributed by 1.0 billion yen to net income (before amortization of goodwill) Consolidated Goodwill (*) Consolidated Net income before Net business profit amortization of goodwill amortization of goodwill (As of Dec 2009) (As of Dec. 2009) before credit costs 3Q 3Q 3Q 3Q Amortization Outstanding FY2008 FY2009 FY2008 FY2009 amount balance Change Change (Cumulativ e total) （ in billions of Yen ） (Cumulative total) (Cumulative total) (Cumulative total) (Cumulative total) Total 32.79 27.44 -5.35 -8.40 20.46 28.87 -7.4 177.8 (Exc. STB Finance Cayman Ltd.) (32.79) (27.44) (-5.35) (-8.40) (11.56) (19.97) --- --- STB Leasing Co., Ltd. 5.18 6.03 0.84 1.38 1.95 0.56 --- --- Sumishin Matsushita Financial Services Co., Ltd. 5.08 5.07 -0.00 0.81 1.27 0.46 -1.2 0.5 First Credit Corporation 5.98 3.70 -2.28 -17.62 2.05 19.68 -4.0 84.0 Life Housing Loan, Ltd. 2.57 3.79 1.22 1.47 2.20 0.73 -0.8 16.0 BUSINEXT CORPORATION 1.87 1.43 -0.44 -0.00 -0.07 -0.07 --- --- Japan TA Solution Ltd Japan TA Solution, Ltd. 2 74 2.74 -1.01 1 01 -3.76 3 76 1.30 1 30 -0.85 0 85 -2.15 2 15 --- --- Nikko Asset Management Co., Ltd. --- 1.73 1.73 --- 1.00 1.00 -1.3 77.3 Sumitomo Trust and Banking Co. (U.S.A.) 3.67 1.30 -2.36 2.16 0.88 -1.27 --- --- Japan Trustee Services Bank, Ltd. -0.01 -0.27 -0.25 -0.00 -0.27 -0.26 --- --- Sumishin Realty Co., Ltd. 0.15 -0.44 -0.59 0.07 -0.28 -0.35 --- --- SBI Sumishin Net Bank, Ltd. -1.86 0.91 2.77 -1.91 0.88 2.79 --- --- Total (Consolidated difference, after consolidated adjustments) 32.31 15.86 -16.45 -14.56 1.66 16.23 --- --- (*) Incl. goodwill of affiliated companies (7.1 billion yen ( ) g p ( y 3
Breakdown of profit by business (Non-consolidated) Retail financial services: Gross business profit decreased by 4.9 billion yen from 3QFY2008 due to the decline in spread income of deposits, while sales of mutual funds and individual annuities improved Real estate: Gross business profit decreased by 1.9 billion yen from 3QFY2008 due to rather slow recovery of real estate brokerage transaction y g Wholesale financial services: Gross business profit increased by 2.5 billion yen from 3QFY2008 due to the increase in fee revenues of real estate NRLs and syndicated loans Treasury and financial products: Gross business profit decreased by 44.2 billion yen from 3QFY2008 due to the decrease in net gains on bonds which recorded a high-level profit in the previous fiscal year due to t e dec ease et ga s o bo ds c eco ded a g e e p o t t e p e ous sca yea <Gross business profit before credit costs (Non-consolidated)> Change 3QFY2008 3QFY2009 from from Cumulative Cumulative Cumulative Cumulative 3Q 1-2Q 3Q 3Q total total (in billions of Yen) 3QFY2008 Retail financial services 19.1 59.5 36.3 18.2 54.5 -0.8 -4.9 (Fee revenue of mutual fund/ individual annuity) (2.8) (11.6) (7.5) (4.5) (12.0) (1.7) (0.4) Wholesale financial services 22.4 72.0 53.9 20.6 74.5 -1.7 2.5 Stock transfer agency services 5.9 15.1 7.7 3.2 10.9 -2.7 -4.1 Treasury and financial products 74.7 107.8 34.9 28.6 63.5 -46.1 -44.2 Fiduciary services Fiduciary services 11.2 11.2 41.2 41.2 23.5 23.5 11.8 11.8 35.3 35.3 0.5 0.5 -5.9 5.9 Pension asset management 7.8 27.5 17.6 9.0 26.6 1.1 -0.9 Securities processing services 3.4 13.7 5.9 2.8 8.8 -0.5 -4.9 Real estate 1.3 8.3 4.4 2.0 6.4 0.6 -1.9 Fees paid for outsourcing (*1) (*1) -6.8 6 8 -20.0 20 0 -10.4 10 4 -5.5 5 5 -16.0 16 0 1 2 1.2 4 0 4.0 Others (*2) -14.8 -21.8 3.6 -1.2 2.4 13.6 24.2 Total 107.1 247.0 146.2 74.4 220.6 -32.6 -26.3 (*1) ( ) Breakdown by business group for 3QFY2009 with changes from 3QFY2008 in parenthesis: Stock y g p g p transfer agency services -5.1 billion yen (+4.6 billion yen), Fiduciary services -10.8 billion yen (-0.6 billion yen) (*2) Include cost of capital funding, dividend of shares for cross-shareholdings, general and administrative expenses of headquarters, etc. Include dividend income (9.5 billion yen) resulting from the gain on retirement of perpetual 4 subordinated bonds (8.9 billion yen) on non-consolidated basis
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