Japan's SMFG expects more than $7.65 billion net profit in FY 2025 [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
Company Research
Source: Yahoo! Finance
TOKYO (Reuters) - Sumitomo Mitsui Financial Group's CEO said the firm may make more than 1.2 trillion yen ($7.65 billion) net profit in the year from next April, as a resurgent Japanese banking sector cashes in on efforts to diversify income sources abroad alongside interest rate normalisation. The forecast exceeds its previous record target of 1.16 trillion yen for this year, even as higher interest rates in Japan and the mass offload of cross-shareholdings have bolstered the current year's results. "If we do as we have been, we should exceed 1.2 trillion next year," SMFG Chief Executive Officer Toru Nakashima told Reuters in an interview. At its second-quarter earnings results in November, Japan's second-largest lender by assets recorded a gain of 196 billion yen on the sale of equity holdings. This came primarily from disposing of cross-shareholdings, which Nakashima said had inflated the bottom line. "We can't bet on that. In five years' time, they will have disappeared,"
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SMFG
Sec Filings
- 12/27/24 - Form 6-K
- 12/26/24 - Form 6-K
- 12/5/24 - Form 6-K
- SMFG's page on the SEC website