three months ended June 30, 2026 (fiscal 2026)
Filed Jul 31, 2026Profit attributable to owners of parent rose 33.0% to ¥ 501,372 million as ordinary profit increased 43.4% to ¥ 693,136 million under Japanese GAAP.
Ordinary income, ordinary profit, profit attributable to owners of parent, consolidated gross profit and consolidated net business profit all increased from the prior-year period, while the fiscal-year profit forecast remained unchanged.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Ordinary incomeother | ¥ 2,850,426 million | – | 16.6 % |
| Interest incomeother | ¥ 1,935,649 million | – | – |
| Interest on loans and discountsother | ¥ 1,048,226 million | – | – |
| Interest and dividends on securitiesother | ¥ 302,340 million | – | – |
| Trust feesother | ¥ 3,356 million | – | – |
| Fees and commissionsother | ¥ 560,299 million | – | – |
| Trading incomeother | ¥ 96,715 million | – | – |
| Other operating incomeother | ¥ 127,705 million | – | – |
| Other incomeother | ¥ 126,699 million | – | – |
| Ordinary expensesother | ¥ 2,157,289 million | – | – |
| Interest expensesother | ¥ 1,143,758 million | – | – |
| Interest on depositsother | ¥ 481,131 million | – | – |
| Fees and commissions paymentsother | ¥ 86,455 million | – | – |
| Trading lossesother | ¥ 11,781 million | – | – |
| Other operating expensesother | ¥ 78,284 million | – | – |
| General and administrative expensesother | ¥ 712,197 million | – | – |
| Other expensesother | ¥ 124,811 million | – | – |
| Ordinary profitother | ¥ 693,136 million | – | 43.4 % |
| Income before income taxesother | ¥ 691,519 million | – | – |
| Income taxesother | ¥ 185,474 million | – | – |
| Profitother | ¥ 506,045 million | – | – |
| Profit attributable to owners of parentother | ¥ 501,372 million | – | 33.0 % |
| Earnings per shareother | ¥ 131.62 | – | – |
| Earnings per share (Diluted)other | ¥ 131.59 | – | – |
| Comprehensive incomeother | ¥ 731,004 million | – | 140.8% |
| Consolidated gross profitother | ¥ 1,403,446 million | – | – |
| Net interest incomeother | ¥ 791,890 million | – | – |
| Net fees and commissionsother | ¥ 473,844 million | – | – |
| Net trading incomeother | ¥ 84,934 million | – | – |
| Net other operating incomeother | ¥ 49,421 million | – | – |
| Equity in gains (losses) of affiliatesother | ¥ 31,062 million | – | – |
| Consolidated net business profitother | ¥ 722,311 million | – | – |
| Total credit costother | ¥ (74,769) million | – | – |
| Gains (losses) on stocksother | ¥ 75,476 million | – | – |
| Total assetsother | ¥ 327,469,563 million | – | – |
| Net assetsother | ¥ 16,240,701 million | – | – |
| Net assets ratioother | 4.9% | – | – |
| Consolidated NPL ratioother | 0.81 | – | – |
fiscal year ending March 31, 2027 outlook
- NoteProfit attributable to owners of parent: ¥ 1,700,000 million
- NoteProfit attributable to owners of parent increase (decrease) from the previous fiscal year: 7.4%
- NoteEarnings per share: ¥ 223.58
- NoteCash dividends per share, 2nd quarter: 90.00
- NoteCash dividends per share, 4th quarter: 90.00
- NoteCash dividends per share, annual: 180.00
- NoteForecast/After considering the stock split, cash dividends per share, 2nd quarter: 90.00
- NoteForecast/After considering the stock split, cash dividends per share, 4th quarter: 45.00
Capital returns
- Fiscal year ended March 31, 2026 cash dividends per share, annual: ¥ 157.00
- Fiscal year ending March 31, 2027 forecast cash dividends per share, annual: 180.00
- The dividend forecast remains unchanged.
- The Board of Directors resolved on May 13, 2026 to implement a stock split of two shares for each share, with a record date of September 30, 2026.
- The Board of Directors resolved on May 13, 2026 to implement a repurchase of its own shares.
What drove it
- Net interest income was ¥ 791,890 million, compared with ¥ 626,284 million in the prior-year period.
- Net fees and commissions were ¥ 473,844 million, compared with ¥ 398,788 million in the prior-year period.
- Net trading income was ¥ 84,934 million, compared with ¥ 57,622 million in the prior-year period.
- Net other operating income was ¥ 49,421 million, compared with ¥ 2,336 million in the prior-year period.
- Wholesale Business Unit consolidated gross profit was ¥ 372,100 million and consolidated net business profit was ¥ 271,500 million.
- Retail Business Unit consolidated gross profit was ¥ 428,800 million and consolidated net business profit was ¥ 120,900 million.
- Global Business Unit consolidated gross profit was ¥ 386,700 million and consolidated net business profit was ¥ 151,200 million.
- Global Markets Business Unit consolidated gross profit was ¥ 233,500 million and consolidated net business profit was ¥ 178,900 million.
- Consolidated total credit cost was ¥ (74,769) million, compared with ¥ (75,645) million in the prior-year period.
Concerns
- General and administrative expenses increased to ¥ 712,197 million from ¥ 599,674 million.
- Equity in gains (losses) of affiliates declined to ¥ 31,062 million from ¥ 56,194 million.
- Global Business Unit consolidated net business profit was ¥ 151,200 million, compared with ¥ 184,700 million in the prior-year period.
- Trading losses were ¥ 11,781 million, compared with — in the prior-year period.
- Income taxes were ¥ 185,474 million, compared with ¥ 102,242 million in the prior-year period.
What to watch
- Execution against the unchanged fiscal year ending March 31, 2027 forecast for profit attributable to owners of parent of ¥ 1,700,000 million.
- The impact of the planned two-for-one stock split, with a record date of September 30, 2026, and the resolved repurchase of own shares.
- General and administrative expenses, reported at ¥ 712,197 million for the three months ended June 30, 2026.
- Global Business Unit consolidated net business profit, reported at ¥ 151,200 million.
- Capital ratio as of June 30, 2026, which will be announced when fixed.
Balance sheet and cash flow
- Cash and due from banks: ¥ 71,464,388 million as of June 30, 2026; ¥ 73,696,930 million as of March 31, 2026.
- Deposits: ¥ 186,759,326 million as of June 30, 2026; ¥ 185,674,241 million as of March 31, 2026.
- Loans and bills discounted: ¥ 119,758,243 million as of June 30, 2026; ¥ 117,629,215 million as of March 31, 2026.
- Borrowed money: ¥ 9,603,511 million as of June 30, 2026; ¥ 9,370,996 million as of March 31, 2026.
- Bonds: ¥ 16,049,583 million as of June 30, 2026; ¥ 15,369,164 million as of March 31, 2026.
- Quarterly consolidated statements of cash flows were not prepared for the three months ended June 30, 2026.
- Depreciation: ¥ 71,984 million; amortization of goodwill: ¥ 7,254 million.
Analysis
SMFG reported a stronger first quarter under Japanese GAAP. Ordinary income was ¥ 2,850,426 million, up 16.6 %, and ordinary profit was ¥ 693,136 million, up 43.4 %. Profit attributable to owners of parent rose 33.0 % to ¥ 501,372 million. Earnings per share were ¥ 131.62 and diluted earnings per share were ¥ 131.59.
The income mix showed broad improvement in core banking and market-related lines. Net interest income was ¥ 791,890 million versus ¥ 626,284 million in the prior-year period. Net fees and commissions were ¥ 473,844 million versus ¥ 398,788 million, net trading income was ¥ 84,934 million versus ¥ 57,622 million, and net other operating income was ¥ 49,421 million versus ¥ 2,336 million. Gains on stocks were ¥ 75,476 million compared with ¥ 41,054 million.
All four reported business units increased consolidated gross profit from the prior-year period, while business-profit performance was mixed. Wholesale, Retail and Global Markets reported consolidated net business profit of ¥ 271,500 million, ¥ 120,900 million and ¥ 178,900 million, respectively. Global Business Unit consolidated net business profit was ¥ 151,200 million, below ¥ 184,700 million in the prior-year period. General and administrative expenses increased to ¥ 712,197 million from ¥ 599,674 million, while total credit cost was ¥ (74,769) million compared with ¥ (75,645) million.
The balance sheet showed deposits of ¥ 186,759,326 million and loans and bills discounted of ¥ 119,758,243 million as of June 30, 2026. Consolidated NPL ratio was 0.81, compared with 0.97 as of March 31, 2026. Total assets were ¥ 327,469,563 million and net assets were ¥ 16,240,701 million. The net assets ratio was 4.9%.
Management left its fiscal year ending March 31, 2027 forecast unchanged at ¥ 1,700,000 million of profit attributable to owners of parent and earnings per share of ¥ 223.58. The dividend forecast also remained unchanged, with annual cash dividends per share forecast at 180.00 before considering the stock split. The Board had resolved to implement a two-for-one stock split with a record date of September 30, 2026 and to repurchase its own shares.
Not in the filing
stated, not guessed- GAAP and non-GAAP revenue, gross margin, operating income, net income and EPS measures are not reported because the issuer reports under Japanese GAAP using banking-specific line items.
- Segment revenue is not reported. The filing reports segment consolidated gross profit and consolidated net business profit.
- Quarter-over-quarter operating comparisons are not reported.
- Operating cash flow and free cash flow are not reported. Quarterly consolidated statements of cash flows were not prepared.
- The amount, timing and terms of the resolved repurchase of own shares are not reported.
- Capital ratio as of June 30, 2026 is not reported and will be announced when fixed.
- Forward guidance for ordinary income, ordinary profit, gross margin, operating expenses and tax rate is not reported.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.