News

Investment Banking

Staff Reporter

, Japan

Published:

1 year ago

Photo from Freepik

Sumitomo Mitsui’s 2023 profit jumps more than three-fourths of the way

Net profit for 2023 was Y52.2t, versus the Y29.7t the previous year.

Sumitomo Mitsui Finance and Leasing saw its fiscal year-ended 31 March net profit at Y52.2t, 75.8% higher than the previous year.

This was aggravated by the higher total revenues of Y2.2t, or 18.7% higher on a year-on-year (YoY) basis.

Cost and expenses reduced the total with Y1.9t, which was also 18.7% larger YoY. Gross profit was at Y263.5b or an 18.9% YoY.

Meanwhile, total liabilities also jumped 19.1% to Y8.1t whilst total assets saw an increase of 18.6% to Y9.2t.

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