trending Market Intelligence /marketintelligence/en/news-insights/trending/XD9jp9fm0UVHxzOantWESA2 content esgSubNav
In This List

Sun Life fiscal Q4 profit climbs 26.7% YOY

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


Sun Life fiscal Q4 profit climbs 26.7% YOY

Sun Life Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥47.14 per share, a gain of 26.7% from ¥37.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥305.6 million, a gain of 26.7% from ¥241.3 million in the prior-year period.

The normalized profit margin rose to 10.5% from 8.3% in the year-earlier period.

Total revenue totaled ¥2.92 billion, compared with ¥2.90 billion in the prior-year period, and total operating expenses declined from the prior-year period to ¥2.48 billion from ¥2.56 billion.

Reported net income fell 13.5% year over year to ¥166.0 million, or ¥25.60 per share, from ¥192.0 million, or ¥29.62 per share.

For the year, the company's normalized net income totaled ¥134.29 per share, a fall of 12.1% from ¥152.80 per share in the prior year.

Normalized net income was ¥870.6 million, a fall of 12.1% from ¥990.6 million in the prior year.

Full-year total revenue fell year over year to ¥10.93 billion from ¥11.30 billion, and total operating expenses fell year over year to ¥9.74 billion from ¥9.92 billion.

The company said reported net income decreased 18.6% year over year to ¥696.0 million, or ¥107.36 per share, in the full year, from ¥855.0 million, or ¥131.88 per share.

As of June 29, US$1 was equivalent to ¥122.67.