Sumitomo Mitsui Financial Group’s annual report to US investors shows much stronger IFRS earnings for the year ended March 2026. Net income was ¥1.19tn, up from ¥516.4bn a year earlier, while pretax profit reached ¥1.56tn and basic earnings per share rose to ¥296.05 from ¥122.40.
This was not a one-line change. Net interest income rose to ¥2.83tn from ¥2.51tn, net fee income to ¥1.52tn from ¥1.32tn, and trading losses narrowed to ¥84.1bn from ¥186.7bn. Gains on financial assets and liabilities measured at fair value through profit or loss increased to ¥332.7bn from ¥43.5bn, while other expenses fell to ¥354.7bn from ¥495.6bn. At the same time, general and administrative expenses increased to ¥2.67tn from ¥2.42tn, and financial asset impairment costs eased only slightly, to ¥392.2bn from ¥411.3bn.
| Metric | Year to March 2025 | Year to March 2026 |
|---|---|---|
| Net income | ¥516.4bn | ¥1.19tn |
| Pretax profit | ¥654.2bn | ¥1.56tn |
| Net interest income | ¥2.51tn | ¥2.83tn |
| Net fee income | ¥1.32tn | ¥1.52tn |
| Total assets | ¥292.2tn | ¥309.2tn |
| Deposits | ¥190.0tn | ¥201.9tn |
| Basic EPS | ¥122.40 | ¥296.05 |
The balance sheet grew with the income statement. Total assets ended March at ¥309.2tn, versus ¥292.2tn a year earlier. Loans and receivables rose to ¥130.5tn from ¥125.2tn, deposits to ¥201.9tn from ¥190.0tn, and bonds issued to ¥16.58tn from ¥14.39tn. Shareholders’ equity attributable to owners of the parent increased to ¥15.86tn from ¥14.47tn.
The numbers arrived via SMFG’s Form 20-F filing with the US Securities and Exchange Commission on June 26. But the company also says the TDnet attachment contains only part of the IFRS financial information included in the annual report and does not include all information that could be material to investors. Readers who want the full risk and business picture still need the complete 20-F.