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Sumitomo Mitsui Trust 9-month net income edges up YOY

Sumitomo Mitsui Trust Holdings Inc.'s net income for the nine months ended Dec. 31, 2016, edged up 0.7% year over year, as an increase in expenses erased a gain in fee and commission income.

Net income attributable to owners increased to ¥130.16 billion, or ¥339.82 per share, from ¥129.22 billion, or ¥335.21 per share.

Fee and commissions for the period rose to ¥288.03 billion from ¥254.28 billion. Interest income for the period inched up to ¥273.78 billion from ¥273.63 billion in the prior-year period.

Meanwhile, ordinary expenses surged year over year to ¥712.57 billion from ¥644.70 billion.

Ordinary profit fell 2.5% to ¥201.57 billion from ¥206.69 billion, while ordinary income increased to ¥914.14 billion from ¥851.38 billion.

As of Jan. 30, US$1 was equivalent to ¥113.84.