3rd Quarter Results
27 Enero 2004 - 1:10AM
UK Regulatory
Sumitomo Trust & Banking
Koichi Onaka, +81-3-3286-8354
Financial Information of 3rd Quarter of Fiscal Year 2003
The Sumitomo Trust and Banking Company, Limited (hereinafter, "the
Bank") announces its financial information of 3rd quarter of fiscal
year 2003 ended December 31, 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
Billions of Yen
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Dec. 2003 Sep. 2003 Jun. 2003
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Loans in Bankruptcy and
Practical Bankruptcy 20.4 19.8 21.4
Doubtful Loans 112.9 117.9 156.8
Substandard Loans 148.1 178.9 154.0
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Total 281.4 316.5 332.1
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Trust Account (Principal Guaranteed)
Billions of Yen
---------------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Loans in Bankruptcy and
Practical Bankruptcy 5.5 6.0 6.6
Doubtful Loans 15.8 15.7 14.6
Substandard Loans 33.0 34.3 38.3
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Total 54.3 56.1 59.5
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Banking and Trust Account (Principal Guaranteed) combined
Billions of Yen
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Dec. 2003 Sep. 2003 Jun. 2003
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Loans in Bankruptcy and
Practical Bankruptcy 25.9 25.7 28.0
Doubtful Loans 128.8 133.6 171.3
Substandard Loans 181.1 213.2 192.2
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Total 335.8 372.6 391.6
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Note:
1. Loans in Bankruptcy and Practical Bankruptcy and Doubtful Loans
(a) As for the categories as of June 2003 and December 2003, the Bank
reclassified the debtors who exhibited significant financial
deterioration or improvement during 1st or 3rd quarter.
Example of significant financial deterioration and improvement;
-- Deterioration: Failed repayment, negative networth or a
significant sales decline, in addition to bankruptcy and bills
dishonored, etc.
-- Improvement: Substantial increase of revenue or profit, etc.
(b) The figures as of June 2003 and December 2003 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 as of June 2003 and December 2003, the Bank
revised the figures by identifying debtors who had been classified
either in "Special Mention" or "Ordinary" category at the end of
March 2003 and September 2003 respectively, but thereafter became
3-month overdue or given mitigation to terms and conditions of
loans during 1st or 3rd quarter.
*Classification under Financial Reconstruction Law /
Debtor-classification under Self-Assessment Compared
Financial Reconstruction Law Self-Assessment
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Loans in Bankruptcy and Practical Legally Bankrupt ("Hatan") and Virtually Bankrupt
Bankruptcy ("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 (Principal Guaranteed) combined
Billions of Yen
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Dec. 2003 Sep. 2003 Jun. 2003
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Substandard 201.2 227.9 202.8
Special Mention excluding
Substandard 572.1 587.8 661.7
Ordinary 9,210.6 9,830.5 9,543.2
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3. BIS Capital Adequacy Ratio Forecast (Consolidated)
Mar. 2004 Sep. 2003 (Actual)
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Capital Adequacy Ratio Mid 11% 12.10%
Tier I Ratio 6.5 - 7.0% 6.66%
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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 3rd
quarter.
3. The decline of ratios as of March 2004 compared with as of
September 2003 is mainly due to the repayment of public fund (100
billion yen of termed subordinated bond).
4. Securities Market Value Information (Non-consolidated)
(Excluding securities whose market values are not available)
Banking Account
Billions of Yen
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Dec. 2003 Sep. 2003 Jun. 2003
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Market Unrealized Gain Market Unrealized Gain Market Unrealized Gain
Value ----------------- Value ------------------ Value ------------------
Net Gains Losses Net Gains Losses Net Gains Losses
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Stocks 560.6 83.9 119.7 35.8 557.5 70.5 108.6 38.1 546.2 -12.6 62.2 74.9
Japanese Bonds 1,010.9 -8.5 1.7 10.3 1,190.7 -12.9 4.8 17.8 1,419.8 -1.9 7.2 9.1
Foreign
Securities and
Others 1,609.0 -0.1 16.9 17.1 1,806.2 15.9 30.7 14.7 1,873.9 33.3 47.2 13.9
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Total 3,180.5 75.1 138.5 63.3 3,554.5 73.5 144.2 70.7 3,840.0 18.7 116.7 97.9
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Note:
1. Values are calculated by using the average market prices during the
last one month of the 3rd quarter as for "Stocks," and by using
the market prices at the end of 3rd quarter as for "Japanese
bonds" and "Foreign Securities and Others."
2. There are no investments in subsidiaries and affiliates with market
price.
3. "Foreign Securities and Others" represents mainly US Treasury
Bonds/Notes and German Bunds.
4. Figures for June 2003 and December 2003 are before
amortization/accumulation and devaluation. Devaluation for
September 2003 was 0.7 billion yen.
Billions of Yen
-------------------------------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Market Unrealized Gain Market Unrealized Gain Market Unrealized Gain
Value ------------------ Value ------------------ Value -------------------
Net Gains Losses Net Gains Losses Net Gains Losses
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Subsidiaries
and
Affiliates
Stocks 1.0 0.8 0.8 - - - - - - - - -
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5. Unrealized Gains/Losses on Financial Derivatives to be reflected
upon the Statement of Income (Non-consolidated)
(Including derivatives on Trading Account)
Billions of Yen
--------------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Interest Rate Related
Transactions 18.3 36.3 11.0
Bond Related Transactions -4.6 -4.9 3.3
Currency Related Transactions 8.2 7.9 8.5
Stock Related Transactions -0.6 0.4 -0.4
Credit Derivative Transactions -0.0 -0.0 -0.2
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Total 21.2 39.6 22.2
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6. Unrealized Gains/Losses on Financial Derivatives to which Hedge
Accounting is applicable (Non-consolidated)
Billions of Yen
--------------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Interest Rate Related
Transactions -6.9 -16.6 -20.2
Bond Related Transactions - - -
Currency Related Transactions -0.2 0.0 0.7
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Total -7.2 -16.6 -19.4
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7. Unwinding of Cross-Shareholding (Non-consolidated, Cost basis)
Billions of Yen
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Projection for FY2003 As of Dec. 2003
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150.0 114.7
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8. Ending Balance of Domestic Loans (Non-consolidated)
Billions of Yen
----------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Trust Account (Principal Guaranteed) 1,242.6 1,310.9 1,444.5
Banking Account 8,051.9 8,653.3 8,306.3
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Total 9,294.6 9,964.3 9,750.8
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9. Ending Balance of Principal of Trust (Principal Guaranteed) and
Domestic Banking Deposits (Non-consolidated)
Billions of Yen
----------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Trust A/C (Principal Guaranteed) 2,512.9 2,688.9 2,831.7
Individuals 2,001.4 2,116.7 2,278.6
Corporations and other
organizations 511.4 572.2 553.1
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Banking A/C 8,141.6 8,011.8 8,029.1
Individuals 5,739.4 5,683.4 5,574.9
Corporations and other
organizations 2,402.2 2,328.3 2,454.1
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Total 10,654.5 10,700.7 10,860.8
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10. Volume of Entrusted Assets (Non-consolidated)
Billions of Yen
----------------------------------------------------------
Dec. 2003 Sep. 2003 Jun. 2003
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Money Trust 18,832.1 18,943.9 18,159.5
Pension Trust 5,658.5 5,187.7 4,918.5
Mutual Fund 6,759.4 6,784.0 6,559.2
Securities Trust 8,897.1 9,107.7 8,866.9
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