Sumitomo Mitsui Trust Group (8309) Investor presentation summary

Review of previous medium-term management plan (FY23-25)

• Achieved PBR of 1x or above ahead of schedule, with ROE at 10.3% and net income at ¥347.4bn for FY2025.

• Strategic investments included alliances and joint ventures with Osmosis, ERM Group, Tikehau Capital, and others.

• Completed reduction of strategic shareholdings one year ahead of plan and divested non-core businesses.

• Expanded wealth management and asset management businesses through mergers and investments.

• Dividend payout ratio reached 40.9%, meeting the target of 40% or above.

Medium-term management plan overview and aspirations

• Aims to become a leading company addressing social challenges through business by FY2035.

• Focuses on growth strategy, capital strategy, and enhancement of management foundation.

• Targets sustainable society, financial well-being, fiduciary duty, and human capital development.

Financial targets and growth trajectory

• FY28 targets: ROTCE approx. 13% (ROE approx. 11%), net income ¥410.0bn.

• FY35 aspiration: ROTCE 16% (ROE 12%), net business profit before credit costs ¥1trn (CAGR +11% FY25-35).

• FY25 actuals: ROTCE 9.9% (ROE 9.5%), net income ¥317.5bn.

• Assumes stable market environment with Nikkei 225 at ¥56,000 and USD/JPY at 150.