Monday, September 8, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Real Estate

Sumitomo Mitsui forecasts higher profit after Q4 profit surge, unveils stock split

by Riah Marton
in Real Estate
Sumitomo Mitsui forecasts higher profit after Q4 profit surge, unveils stock split
Share on FacebookShare on Twitter


Sumitomo Mitsui Financial Group (SMFG) reported a jump in fourth-quarter profit on Wednesday (May 15), beating expectations as it saw robust business overseas and solid demand at home, and it forecast higher profit in the current financial year.

SMFG also said it would buy back up to 1.1 per cent of its own shares, worth 100 billion yen (S$863.9 million), and that it would carry out a 3-for-1 stock split for shareholders as of Sept 30.

For the January-March fourth quarter, Japan’s second-largest bank said group net profit grew more than four times to 170 billion yen, compared with the 150 billion yen implied by the LSEG consensus estimate for the full year.

SMFG is the first of Japan’s three megabanks to report results on Wednesday. Together, the massive lenders are expected to deliver combined full-year profits of around 3 trillion yen in total, the Nikkei newspaper has reported, citing the strength of the business environment both at home and abroad.

The banks are all seen benefitting from higher interest rates overseas, as well as more mergers and acquisitions and other deals in Japan.

For the current financial year, SMFG forecast a net profit of 1.06 trillion yen. That compared with the full-year profit of 962.95 billion in the year that just ended. REUTERS

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Tags: ForecastsHigherMitsuiProfitSplitStockSumitomoSurgeUnveils
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Khazanah, EPF weighing taking Malaysia Airports private, sources say

Khazanah, EPF weighing taking Malaysia Airports private, sources say

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In