1st Quarter Results
July 25 2003 - 6:47AM
UK Regulatory
BW20030725000010 20030725T094654Z UTC
( BW)(SUMITOMO-TRUST-&-BANKING)(SMB) 1st Quarter Results
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--July 25, 2003--
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Company The Sumitomo Trust and Banking Co., Ltd.
Information 4-4, Marunouchi 1-chome, Chiyoda-ku, TOKYO, 100-8233 Japan
July 25, 2003
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Financial Information of 1st Quarter of Fiscal Year 2003 --
The Sumitomo Trust and Banking Company, Limited (hereinafter, "the
Bank") announces its financial information of 1st quarter of fiscal
year 2003 ended June 30, 2003. The information below is voluntarily
disclosed, based on -- "Front-Loaded Reform Program" announced by
Government Committee and "The Project for Structural Reform of the --
Securities Market" announced by FSA.
Note: The financial information below is unaudited.
1. Assets Classified under Financial Reconstruction Law (Non-consolidated)
Banking Account
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Loans in Bankruptcy and Practical 21.4 22.0 50.2
Bankruptcy
Doubtful Loans 156.8 159.8 219.5
Substandard Loans 154.0 156.6 171.5
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Total 332.1 338.4 441.2
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Trust Account (Principal Guaranteed)
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Loans in Bankruptcy and Practical 6.6 7.1 9.8
Bankruptcy
Doubtful Loans 14.6 16.9 26.0
Substandard Loans 38.3 39.9 69.0
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Total 59.5 63.8 104.7
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Banking and Trust Account
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Loans in Bankruptcy and Practical 28.0 29.0 60.0
Bankruptcy
Doubtful Loans 171.3 176.7 245.4
Substandard Loans 192.2 196.5 240.5
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Total 391.6 402.2 545.9
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Note:
1. Loans in Bankruptcy and practical Bankruptcy, Doubtful Loans
(a) As for these categories for June 2003, the Bank
reclassified the debtors who exhibited significant
financial deterioration during the 1st quarter such as
failed repayment, negative networth or a significant
sales decline, in addition to bankruptcy and bills
dishonored. As for these categories for December 2002,
the Bank only reclassified the debtors who were bankrupt
or bills dishonored during the 3rd quarter.
(b) The figures are before write-off and cash reserve, and do
not reflect the changes in the liquidation estimate of
collateral. However, the amount of collection and sales
to third parties during the quarter is taken into
account.
2. Substandard Loans
(a) As for this category for June 2003, the Bank revised the
figures by identifying debtors who had been classified
either in "Special Mention" or "Ordinary" category at the
end of semi-annual fiscal term, but thereafter became
3-month overdue or given mitigation to terms and
conditions of loans.
The figures reflect the increases along with new lending and
decreases due to collection.
*Classification under Financial Reconstruction Law / Debtor-classification under Self-Assessment Compared
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Financial Reconstruction Law Self-Assessment
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Loans in Bankruptcy and Practical Bankruptcy Legally Bankrupt ("Hatan") and Virtually Bankrupt
("Jissitsu-Hatan")
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Doubtful Loans Potentially Bankrupt ("Hatan-Kenen")
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Substandard Loans Principal or interest 3-month overdue, or terms conditions
mitigated among Special Mention ("Yo-Chui")
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2. Loans to Debtors in "Special Mention" and "Ordinary" Category (Non-consolidated)
(Debtor Classification under Self-Assessment)
Banking and Trust Account
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Substandard 202.8 209.5 278.7
Special Mention excluding Substandard 661.7 703.2 861.1
Ordinary 9,543.2 10,048.4 9,744.3
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3. BIS Capital Adequacy Ratio Forecast (Consolidated)
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Sep. 2003 Mar. 2003 (Actual)
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Capital Adequacy Ratio 11.0 - 11.5% 10.48%
Tier I Ratio 6.0 - 6.5% 6.09%
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Note: 1. Forecast is subject to change.
2. Forecast is based on the value of stocks calculated by using
the average market price during the last one month of the 1st
quarter.
4. Securities Market Value Information (Non-consolidated)
(Excluding securities whose market values are not available)
Banking Account
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Billions of Yen
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-------------------------------- -- --------------------------------- -- ----------------------------------
Jun. 2003 Mar. 2003 Dec. 2002
------------- -------------------------------- -- --------------------------------- -- ----------------------------------
------------- -------- ----------------------- -- --------- ----------------------- -- --------- ------------------------
Market Unrealized Gain Market Unrealized Gain Market Unrealized Gain
Value Value Value
-------- ----------------------- -- --------- -- --------- ------------------------
-------- ------- ------- ------- -- --------- ------- ------ -------- -- --------- ------- ------- --------
Net Gains Losses Net Gains Losses Net Gains Losses
------------- -------- ------- ------- ------- -- --------- ------- ------ -------- -- --------- ------- ------- --------
Stocks 546.2 -12.6 62.2 74.9 525.1 -63.6 35.3 99.0 624.1 -193.6 35.0 228.6
Japanese 1,419.8 -1.9 7.2 9.1 1,103.3 8.4 8.5 0.0 1,123.5 8.4 9.7 1.3
Bonds
Others 1,873.9 33.3 47.2 13.9 1,606.9 35.6 47.1 11.4 1,907.6 45.5 54.5 9.0
------------- -------- ------- ------- ------- -- --------- ------- ------ -------- -- --------- ------- ------- --------
------------- -------- ------- ------- ------- -- --------- ------- ------ -------- -- --------- ------- ------- --------
Total 3,840.0 18.7 116.7 97.9 3,235.4 -19.5 91.0 110.6 3,655.4 -139.6 99.3 239.0
------------- -------- ------- ------- ------- -- --------- ------- ------ -------- -- --------- ------- ------- --------
Note:
1. Values are calculated by using the average market prices
during the last one month of the 1st quarter as for
"Stocks," and by using the market prices at the end of 1st
quarter as for "Japanese bonds" and "Others."
2. There are no investments in subsidiaries and affiliates with market price.
3. "Others" represents mainly US Treasury Bonds/Notes and German Bunds.
4. Figures for Jun. 2003 and Dec. 2002 are before amortization/accumulation and devaluation. Devaluation for
Mar. 2003 was 95.6 billion yen.
5. Unrealized Gains/Losses on Financial Derivatives to be reflected upon
the Statement of Income (Non-consolidated)
(Including derivatives on Trading Account)
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Interest Rate Related Transactions 11.0 4.4 5.4
Stock Related Transactions -0.4 0.0 0.1
Bond Related Transactions 3.3 -0.2 0.1
Currency Related Transactions 8.5 3.2 3.1
Credit Derivative Transactions -0.2 -0.1 0.0
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Total 22.2 7.3 8.9
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Note: Due to the change in the hedge accounting for Banks in Japan,
derivative transactions which had been applied with the
previous hedge accounting rules but has not been applied with
the new rules, are included in the above figures. Deferred
unrealized losses as permitted by the new hedge accounting
rules in the amount of 17.1 billion yen are included in the
above figures.
6. Unrealized Gains/Losses on Financial Derivatives as Hedge Tool and Financial Derivatives Calculated on the
Accrual Basis (Non-consolidated)
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Billions of Yen
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-------------------------- -----------------------
Jun. 2003 Mar. 2003 Dec. 2002
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Interest Rate Related Transactions -20.2 -36.1 -34.2
Bond Related Transactions - 0.1 -26.6
Currency Related Transactions 0.7 - -
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Total -19.4 -36.0 -60.9
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7. Unwinding of Cross-Shareholding (Non-consolidated, Cost basis)
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Billions of Yen
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Projection for FY2003 As of Jun. 2003
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150.0 30.0
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8. Ending Balance of Domestic Loans (Non-consolidated)
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Trust Account (Principal Guaranteed) 1,444.5 1,543.9 1,720.4
Banking Account 8,306.3 8,760.6 8,556.9
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Total 9,750.8 10,304.6 10,277.4
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9. Ending Balance of Principal Guaranteed Trust and Domestic Deposits (Non-consolidated)
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Trust A/C (Principal Guaranteed) 2,831.7 3,079.4 3,242.6
Individuals 2,278.6 2,423.4 2,623.5
Corporations and other organizations 553.1 656.0 619.1
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Banking A/C 8,029.1 7,941.8 7,492.7
Individuals 5,574.9 5,395.5 5,193.3
Corporations and other organizations 2,454.1 2,546.2 2,299.3
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Total 10,860.8 11,021.3 10,735.3
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10. Volume of Entrusted Assets (Non-consolidated)
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Billions of Yen
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Jun. 2003 Mar. 2003 Dec. 2002
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Money Trust 18,159.5 20,108.2 19,203.7
Pension Trust 4,918.5 5,477.8 5,702.5
Securities Asset Management Trust 6,559.2 6,804.6 7,427.1
Securities Trust 8,866.9 8,430.2 8,733.4
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For further information, please contact
Koichi Onaka, Head of IR Office, Financial Management Dept.
Telephone: +81-3-3286-8354 Facsimile: +81-3-3286-4654
Short Name: Sumitomo Tst & Bnkg.
Category Code: QRF
Sequence Number: 00007598
Time of Receipt (offset from UTC): 20030725T102131+0100
--30--sm/uk*
CONTACT: Sumitomo Trust & Banking
KEYWORD: JAPAN UNITED KINGDOM INTERNATIONAL EUROPE
INDUSTRY KEYWORD: BANKING
SOURCE: Sumitomo Tst & Bnkg
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