Sumitomo Mitsui Reports 350% Surge in Q4 Net Profit, Achieves Record Annual Earnings

Deep News
05/13

On May 13th, Sumitomo Mitsui Financial Group (SMFG), Japan's second-largest commercial bank, released its latest financial results. The data revealed a substantial 350% year-on-year increase in the Group's net profit for the fourth fiscal quarter, with total profit for the last fiscal year reaching an all-time high. Building on this robust growth momentum, the Group forecasts a continued rise in profitability for the current fiscal year. The financial report shows that for the fourth quarter, spanning January to March, Sumitomo Mitsui Financial Group achieved a net profit of 188.2 billion yen (approximately $1.19 billion), significantly higher than the 42.0 billion yen recorded in the same period last year. Looking at the full-year performance, despite facing potential impacts from tariff policies and increasing geopolitical turbulence, the Group's net profit for the last fiscal year reached 1.583 trillion yen, comprehensively surpassing the previous historical peak of 1.18 trillion yen. Looking ahead to the new fiscal year ending March 31, 2027, the Group expects net profit to grow by a further 7.4% to 1.7 trillion yen. Concurrently with the earnings announcement, Sumitomo Mitsui Financial Group disclosed plans for a new round of capital operations and shareholder returns. The Group intends to allocate up to 180.0 billion yen to repurchase shares not exceeding 1.0% of its total outstanding shares, with the repurchased shares scheduled for cancellation on August 20th this year. Additionally, the Group will implement a 1-for-2 stock split effective September 30th.

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