• Kyodo

  • SHARE

The robust earnings mainly reflected a drop in bad-loan disposal costs and more profitable trading government bonds.

Sumitomo Mitsui Financial Group Inc. said its consolidated net profit jumped 75.2 percent in the year through March to ¥475.90 billion, while that of Resona Holdings Inc. rose 21.1 percent to ¥160.08 billion and that Sumitomo Mitsui Trust Holdings Inc. grew 30.8 percent to ¥130.79 billion.

Sumitomo Mitsui Financial and Resona are forecasting drops in net profit for the current fiscal year, while Mizuho and Sumitomo Mitsui Trust are projecting further gains.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW