SUMITOMO MITSUI FINANCIAL GROUP INC
For the period ended Mar 31, 2024. Filed Jun 27, 2024.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Jun 27, 2024
Contents
Selected Statistical Data
| I. | Distribution of Assets, Liabilities and Equity; Interest Rates and Interest Differential |
|---|
Average Statements of Financial Positions, Interest and Average Rates
The following tables show the average balances of our statement of financial position items and related interest and average interest rates for the fiscal years ended March 31, 2024, 2023 and 2022. Average balances are generally based on a daily average. Weekly,
month-end
or
quarter-end
averages are used for certain average balances where it is not practical to obtain the applicable daily averages. The average balances determined by such methods are considered to be representative of our operations. The allocation of amounts between domestic and foreign is based on the location of the office.
| For the fiscal year ended March 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||||||
| Averagebalance | Interestincome | Averagerate | Averagebalance | Interestincome | Averagerate | Averagebalance | Interestincome | Averagerate | |
| (In millions, except percentages) | |||||||||
| Interest-earning assets: | |||||||||
| Interest-earning deposits with banks: | |||||||||
| Domestic offices | ¥773,938 | ¥7,039 | 0.91% | ¥825,919 | ¥8,889 | 1.08% | ¥892,460 | ¥2,219 | 0.25% |
| Foreign offices | 11,070,392 | 572,765 | 5.17% | 10,400,549 | 300,815 | 2.89% | 7,353,392 | 17,825 | 0.24% |
| Total | 11,844,330 | 579,804 | 4.90% | 11,226,468 | 309,704 | 2.76% | 8,245,852 | 20,044 | 0.24% |
| Call loans and bills bought, reverse repurchase agreements and cash collateral on securities borrowed: | |||||||||
| Domestic offices | 11,379,074 | 79,841 | 0.70% | 11,158,315 | 27,777 | 0.25% | 11,014,326 | (3,131) | (0.03%) |
| Foreign offices | 8,536,516 | 328,524 | 3.85% | 6,192,287 | 102,839 | 1.66% | 3,723,704 | 23,662 | 0.64% |
| Total | 19,915,590 | 408,365 | 2.05% | 17,350,602 | 130,616 | 0.75% | 14,738,030 | 20,531 | 0.14% |
| Trading assets(1) and financial assets at fair value through profit or loss(2): | |||||||||
| Domestic offices | 3,704,566 | 13,848 | 0.37% | 3,111,209 | 10,849 | 0.35% | 3,462,438 | 14,325 | 0.41% |
| Foreign offices | 1,581,322 | 43,199 | 2.73% | 841,188 | 26,965 | 3.21% | 391,739 | 7,480 | 1.91% |
| Total | 5,285,888 | 57,047 | 1.08% | 3,952,397 | 37,814 | 0.96% | 3,854,177 | 21,805 | 0.57% |
| Investment securities(3): | |||||||||
| Domestic offices | 18,289,128 | 236,610 | 1.29% | 18,999,935 | 82,984 | 0.44% | 20,679,429 | 42,126 | 0.20% |
| Foreign offices | 7,843,093 | 257,098 | 3.28% | 6,051,591 | 135,027 | 2.23% | 5,108,333 | 81,068 | 1.59% |
| Total | 26,132,221 | 493,708 | 1.89% | 25,051,526 | 218,011 | 0.87% | 25,787,762 | 123,194 | 0.48% |
| Loans and advances(4): | |||||||||
| Domestic offices | 69,795,241 | 1,203,417 | 1.72% | 66,849,437 | 1,002,229 | 1.50% | 64,172,223 | 828,723 | 1.29% |
| Foreign offices | 47,182,431 | 3,259,104 | 6.91% | 46,551,468 | 2,035,516 | 4.37% | 33,983,382 | 755,162 | 2.22% |
| Total | 116,977,672 | 4,462,521 | 3.81% | 113,400,905 | 3,037,745 | 2.68% | 98,155,605 | 1,583,885 | 1.61% |
| Total interest-earning assets: | |||||||||
| Domestic offices | 103,941,947 | 1,540,755 | 1.48% | 100,944,815 | 1,132,728 | 1.12% | 100,220,876 | 884,262 | 0.88% |
| Foreign offices | 76,213,754 | 4,460,690 | 5.85% | 70,037,083 | 2,601,162 | 3.71% | 50,560,550 | 885,197 | 1.75% |
| Total | 180,155,701 | ¥6,001,445 | 3.33% | 170,981,898 | ¥3,733,890 | 2.18% | 150,781,426 | ¥1,769,459 | 1.17% |
| Non-interest-earning assets: | |||||||||
| Cash and due from banks | 67,079,636 | 63,274,729 | 63,922,778 | ||||||
| Other non-interest-earning assets | 29,718,916 | 25,340,810 | 21,337,859 | ||||||
| Allowance for loan losses | (925,084) | (967,519) | (836,474) | ||||||
| Total non-interest-earning assets | 95,873,468 | 87,648,020 | 84,424,163 | ||||||
| Total assets | ¥276,029,169 | ¥258,629,918 | ¥235,205,589 | ||||||
| Total assets attributable to foreign offices | 32.3% | 32.0% | 25.2% | ||||||
| For the fiscal year ended March 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||||||
| Averagebalance | Interestexpense | Averagerate | Averagebalance | Interestexpense | Averagerate | Averagebalance | Interestexpense | Averagerate | |
| (In millions, except percentages) | |||||||||
| Interest-bearing liabilities: | |||||||||
| Deposits: | |||||||||
| Domestic offices | ¥103,168,004 | ¥217,776 | 0.21% | ¥101,243,116 | ¥99,999 | 0.10% | ¥97,534,028 | ¥8,531 | 0.01% |
| Foreign offices | 41,198,120 | 1,955,469 | 4.75% | 38,080,063 | 968,751 | 2.54% | 28,176,552 | 93,460 | 0.33% |
| Total | 144,366,124 | 2,173,245 | 1.51% | 139,323,179 | 1,068,750 | 0.77% | 125,710,580 | 101,991 | 0.08% |
| Call money and bills sold, repurchase agreements and cash collateral on securities lent: | |||||||||
| Domestic offices | 12,475,833 | 360,268 | 2.89% | 11,764,350 | 108,498 | 0.92% | 11,403,604 | (626) | (0.01%) |
| Foreign offices | 8,390,852 | 448,131 | 5.34% | 7,620,598 | 190,693 | 2.50% | 6,204,348 | 7,652 | 0.12% |
| Total | 20,866,685 | 808,399 | 3.87% | 19,384,948 | 299,191 | 1.54% | 17,607,952 | 7,026 | 0.04% |
| Trading liabilities(1): | |||||||||
| Domestic offices | 3,259,973 | 18,352 | 0.56% | 2,786,212 | 19,889 | 0.71% | 2,372,402 | 23,065 | 0.97% |
| Foreign offices | 578,065 | 20,971 | 3.63% | 314,020 | 8,767 | 2.79% | 187,569 | 2,773 | 1.48% |
| Total | 3,838,038 | 39,323 | 1.02% | 3,100,232 | 28,656 | 0.92% | 2,559,971 | 25,838 | 1.01% |
| Financial liabilities designated at fair value through profit or loss(2): | |||||||||
| Domestic offices | 171,350 | 313 | 0.18% | 87,941 | 113 | 0.13% | 54,090 | 22 | 0.04 % |
| Foreign offices | 211,071 | 1,834 | 0.87% | 246,968 | 477 | 0.19% | 230,771 | (345) | (0.15%) |
| Total | 382,421 | 2,147 | 0.56% | 334,909 | 590 | 0.18% | 284,861 | (323) | (0.11%) |
| Borrowings and other interest-bearing liabilities: | |||||||||
| Domestic offices | 16,314,414 | 112,145 | 0.69% | 16,888,382 | 67,692 | 0.40% | 20,273,371 | 31,957 | 0.16% |
| Foreign offices | 1,480,614 | 85,426 | 5.77% | 1,152,211 | 58,928 | 5.11% | 548,899 | 17,832 | 3.25% |
| Total | 17,795,028 | 197,571 | 1.11% | 18,040,593 | 126,620 | 0.70% | 20,822,270 | 49,789 | 0.24% |
| Commercial Paper: | |||||||||
| Domestic offices | 1,068,437 | 218 | 0.02% | 707,581 | 37 | 0.01% | 489,173 | 17 | 0.00% |
| Foreign offices | 2,244,468 | 114,246 | 5.09% | 2,261,246 | 45,274 | 2.00% | 2,014,393 | 2,188 | 0.11% |
| Total | 3,312,905 | 114,464 | 3.46% | 2,968,827 | 45,311 | 1.53% | 2,503,566 | 2,205 | 0.09% |
| Bonds: | |||||||||
| Domestic offices | 9,293,908 | 609,336 | 6.56% | 8,421,651 | 314,136 | 3.73% | 8,580,141 | 99,154 | 1.16% |
| Foreign offices | 198,853 | 16,969 | 8.53% | 303,571 | 13,866 | 4.57% | 84,274 | 5,146 | 6.11% |
| Total | 9,492,761 | 626,305 | 6.60% | 8,725,222 | 328,002 | 3.76% | 8,664,415 | 104,300 | 1.20% |
| Premiums for deposit insurance and others: | |||||||||
| Domestic offices | — | 26,579 | — | — | 20,696 | — | — | 36,222 | — |
| Foreign offices | — | 107,072 | — | — | 52,436 | — | — | 2,183 | — |
| Total | — | 133,651 | — | — | 73,132 | — | — | 38,405 | — |
| Total interest-bearing liabilities: | |||||||||
| Domestic offices | 145,751,919 | 1,344,987 | 0.92% | 141,899,233 | 631,060 | 0.44% | 140,706,809 | 198,342 | 0.14% |
| Foreign offices | 54,302,043 | 2,750,118 | 5.06% | 49,978,677 | 1,339,192 | 2.68% | 37,446,806 | 130,889 | 0.35% |
| Total | 200,053,962 | ¥4,095,105 | 2.05% | 191,877,910 | ¥1,970,252 | 1.03% | 178,153,615 | ¥329,231 | 0.18% |
| Non-interest-bearing liabilities: | |||||||||
| Non-interest-bearing demand deposits | 34,769,805 | 32,230,705 | 29,116,236 | ||||||
| Other non-interest-bearing liabilities | 26,300,081 | 21,254,281 | 15,295,178 | ||||||
| Total non-interest-bearing liabilities | 61,069,886 | 53,484,986 | 44,411,414 | ||||||
| Total equity | 14,905,321 | 13,267,022 | 12,640,560 | ||||||
| Total equity and liabilities | ¥276,029,169 | ¥258,629,918 | ¥235,205,589 | ||||||
| Total liabilities attributable to foreign offices | 25.4% | 24.4% | 19.1% | ||||||
| Net interest income and interest rate spread | ¥1,906,340 | 1.28% | ¥1,763,638 | 1.15% | ¥1,440,228 | 0.99% | |||
| Net interest income as a percentage of total interest-earning assets | 1.06% | 1.03% | 0.96% | ||||||
| (1) | The net amount of interest income on trading assets and interest expense on trading liabilities is reported as net trading income in our consolidated income statements. |
| (2) | Interest income and expense on financial assets and liabilities at fair value through profit or loss are reported in net income from financial assets and liabilities at fair value through profit or loss in our consolidated income statements. |
| (3) | Taxable investment securities and non-taxable investment securities are not disclosed separately because the aggregate effect of these average balances and interest income would not be material. In addition, the yields on tax-exempt obligations have not been calculated on a tax equivalent basis because the effect of such calculation would not be material. |
| (4) | Loans and advances include impaired loans and advances. The amortized portion of net loan origination fees is included in interest income on loans and advances. |
Analysis of Net Interest Income
The following tables show the changes to our net interest income attributable to changes in the volume and changes in the rates for the fiscal year ended March 31, 2024 compared to the fiscal year ended March 31, 2023 and for the fiscal year ended March 31, 2023 compared to the fiscal year ended March 31, 2022.
Changes attributable to the combined impact of changes in the rates and the volume have been allocated proportionately to the changes in the volume and changes in the rates.
| Fiscal year ended March 31, 2024compared tofiscal year ended March 31, 2023Increase / (decrease) | Fiscal year ended March 31, 2023compared tofiscal year ended March 31, 2022Increase / (decrease) | |||||
|---|---|---|---|---|---|---|
| Volume | Rate | Net change | Volume | Rate | Net change | |
| (In millions) | ||||||
| Interest income: | ||||||
| Interest-earning deposits with banks: | ||||||
| Domestic offices | ¥(536) | ¥(1,314) | ¥(1,850) | ¥(178) | ¥6,848 | ¥6,670 |
| Foreign offices | 20,511 | 251,439 | 271,950 | 10,234 | 272,756 | 282,990 |
| Total | 19,975 | 250,125 | 270,100 | 10,056 | 279,604 | 289,660 |
| Call loans and bills bought, reverse repurchase agreements and cash collateral on securities borrowed: | ||||||
| Domestic offices | 563 | 51,501 | 52,064 | (43) | 30,951 | 30,908 |
| Foreign offices | 50,361 | 175,324 | 225,685 | 23,196 | 55,981 | 79,177 |
| Total | 50,924 | 226,825 | 277,749 | 23,153 | 86,932 | 110,085 |
| Trading assets(1) and financial assets at fair value through profit or loss(2): | ||||||
| Domestic offices | 2,168 | 831 | 2,999 | (1,354) | (2,122) | (3,476) |
| Foreign offices | 20,722 | (4,488) | 16,234 | 12,252 | 7,233 | 19,485 |
| Total | 22,890 | (3,657) | 19,233 | 10,898 | 5,111 | 16,009 |
| Investment securities: | ||||||
| Domestic offices | (3,242) | 156,868 | 153,626 | (3,614) | 44,472 | 40,858 |
| Foreign offices | 47,212 | 74,859 | 122,071 | 16,896 | 37,063 | 53,959 |
| Total | 43,970 | 231,727 | 275,697 | 13,282 | 81,535 | 94,817 |
| Loans and advances: | ||||||
| Domestic offices | 45,684 | 155,504 | 201,188 | 35,683 | 137,823 | 173,506 |
| Foreign offices | 27,938 | 1,195,650 | 1,223,588 | 353,683 | 926,671 | 1,280,354 |
| Total | 73,622 | 1,351,154 | 1,424,776 | 389,366 | 1,064,494 | 1,453,860 |
| Total interest income: | ||||||
| Domestic offices | 44,637 | 363,390 | 408,027 | 30,494 | 217,972 | 248,466 |
| Foreign offices | 166,744 | 1,692,784 | 1,859,528 | 416,261 | 1,299,704 | 1,715,965 |
| Total | ¥211,381 | ¥2,056,174 | ¥2,267,555 | ¥446,755 | ¥1,517,676 | ¥1,964,431 |
| Fiscal year ended March 31, 2024compared tofiscal year ended March 31, 2023Increase / (decrease) | Fiscal year ended March 31, 2023compared tofiscal year ended March 31, 2022Increase / (decrease) | |||||
|---|---|---|---|---|---|---|
| Volume | Rate | Net change | Volume | Rate | Net change | |
| (In millions) | ||||||
| Interest expense: | ||||||
| Deposits: | ||||||
| Domestic offices | ¥1,961 | ¥115,816 | ¥117,777 | ¥385 | ¥91,083 | ¥91,468 |
| Foreign offices | 85,126 | 901,592 | 986,718 | 43,596 | 831,695 | 875,291 |
| Total | 87,087 | 1,017,408 | 1,104,495 | 43,981 | 922,778 | 966,759 |
| Call money and bills sold, repurchase agreements and cash collateral on securities lent: | ||||||
| Domestic offices | 6,931 | 244,839 | 251,770 | (35) | 109,159 | 109,124 |
| Foreign offices | 21,044 | 236,394 | 257,438 | 2,083 | 180,958 | 183,041 |
| Total | 27,975 | 481,233 | 509,208 | 2,048 | 290,117 | 292,165 |
| Trading liabilities(1): | ||||||
| Domestic offices | 3,047 | (4,584) | (1,537) | 3,590 | (6,766) | (3,176) |
| Foreign offices | 9,000 | 3,204 | 12,204 | 2,588 | 3,406 | 5,994 |
| Total | 12,047 | (1,380) | 10,667 | 6,178 | (3,360) | 2,818 |
| Financial liabilities designated at fair value through profit or loss(2): | ||||||
| Domestic offices | 138 | 62 | 200 | 20 | 71 | 91 |
| Foreign offices | (78) | 1,435 | 1,357 | (23) | 845 | 822 |
| Total | 60 | 1,497 | 1,557 | (3) | 916 | 913 |
| Borrowings and other interest-bearing liabilities: | ||||||
| Domestic offices | (2,370) | 46,823 | 44,453 | (6,230) | 41,965 | 35,735 |
| Foreign offices | 18,273 | 8,225 | 26,498 | 26,987 | 14,109 | 41,096 |
| Total | 15,903 | 55,048 | 70,951 | 20,757 | 56,074 | 76,831 |
| Commercial Paper: | ||||||
| Domestic offices | 48 | 133 | 181 | — | 20 | 20 |
| Foreign offices | (338) | 69,310 | 68,972 | 305 | 42,781 | 43,086 |
| Total | (290) | 69,443 | 69,153 | 305 | 42,801 | 43,106 |
| Bonds: | ||||||
| Domestic offices | 35,500 | 259,700 | 295,200 | (1,872) | 216,854 | 214,982 |
| Foreign offices | (5,966) | 9,069 | 3,103 | 10,320 | (1,600) | 8,720 |
| Total | 29,534 | 268,769 | 298,303 | 8,448 | 215,254 | 223,702 |
| Premiums for deposit insurance and others: | ||||||
| Domestic offices | 5,883 | — | 5,883 | (15,526) | — | (15,526) |
| Foreign offices | 54,636 | — | 54,636 | 50,253 | — | 50,253 |
| Total | 60,519 | — | 60,519 | 34,727 | — | 34,727 |
| Total interest expense: | ||||||
| Domestic offices | 51,138 | 662,789 | 713,927 | (19,668) | 452,386 | 432,718 |
| Foreign offices | 181,697 | 1,229,229 | 1,410,926 | 136,109 | 1,072,194 | 1,208,303 |
| Total | ¥232,835 | ¥1,892,018 | ¥2,124,853 | ¥116,441 | ¥1,524,580 | ¥1,641,021 |
| Net interest income: | ||||||
| Domestic offices | ¥(6,501) | ¥(299,399) | ¥(305,900) | ¥50,162 | ¥(234,414) | ¥(184,252) |
| Foreign offices | (14,953) | 463,555 | 448,602 | 280,152 | 227,510 | 507,662 |
| Total | ¥(21,454) | ¥164,156 | ¥142,702 | ¥330,314 | ¥(6,904) | ¥323,410 |
| (1) | The net amount of interest income on trading assets and interest expense on trading liabilities is reported as net trading income in our consolidated income statements. |
| (2) | Interest income and expense on financial assets and liabilities at fair value through profit or loss are reported in net income from financial assets and liabilities at fair value through profit or loss in our consolidated income statements. |
| II. | Investments in Debt Securities |
|---|
The following table shows weighted average yields by maturity of debt instruments at amortized cost and debt instruments at fair value through other comprehensive income at March 31, 2024. Weighted average yields are calculated based on amortized cost. Yields on
tax-exempt
obligations have not been calculated on a tax equivalent basis because the effect of such a calculation would not be material.
| Not later thanone year | Later thanone year andnot later thanfive years | Later thanfive years andnot later thanten years | Later thanten years | Total | |
|---|---|---|---|---|---|
| Debt instruments at amortized cost: | |||||
| Domestic: | |||||
| Japanese government bonds | — | 0.03% | — | — | 0.03% |
| Japanese municipal bonds | — | 0.24% | 0.09% | — | 0.21% |
| Japanese corporate bonds | — | 0.38% | — | — | 0.38% |
| Total domestic | — | 0.17% | 0.09% | — | 0.16% |
| Foreign: | |||||
| Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agency bonds | 6.43% | 6.16% | 6.52% | — | 6.35% |
| Mortgage-backed securities | — | — | 4.11% | 5.62% | 5.39% |
| Other debt instruments | 4.91% | 5.51% | — | — | 5.42% |
| Total foreign | 6.42% | 6.12% | 6.32% | 5.62% | 6.30% |
| Total | 6.42% | 0.82% | 1.21% | 5.62% | 1.76% |
| Debt instruments at fair value through other comprehensive income: | |||||
| Domestic: | |||||
| Japanese government bonds | (0.09%) | (0.07%) | 0.07% | 0.24% | (0.07%) |
| Japanese municipal bonds | 0.02% | 0.04% | 0.13% | 0.17% | 0.10% |
| Japanese corporate bonds | 0.86% | 0.08% | 0.14% | 0.40% | 0.31% |
| Other debt instruments | 0.00% | — | — | — | 0.00% |
| Total domestic | (0.08%) | (0.04%) | 0.12% | 0.32% | (0.01%) |
| Foreign: | |||||
| U.S. Treasury and other U.S. government agency bonds | 2.47% | 2.45% | 1.84% | — | 2.37% |
| Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agency bonds | 1.66% | 2.80% | 2.42% | 0.16% | 1.85% |
| Mortgage-backed securities | — | 4.59% | 4.51% | 4.74% | 4.74% |
| Other debt instruments | 2.90% | 4.33% | 1.55% | 1.70% | 3.14% |
| Total foreign | 2.02% | 2.57% | 2.05% | 4.36% | 2.79% |
| Total | 0.79% | 1.95% | 1.23% | 3.73% | 1.65% |
| III. | Loan Portfolio |
|---|
Maturities and Sensitivities of Loans and Advances to Changes in Interest Rates
The following table shows the maturities of loans and advances by the domicile and industry type of the borrower at March 31, 2024. The classification of loans and advances by industry is based on the industry segment loan classification as defined by the Bank of Japan (“BOJ”) for regulatory reporting purposes.
| Maturity | |||||
|---|---|---|---|---|---|
| Not later thanone year | Later thanone year andnot later thanfive years | Later thanfive years andnot later thanfifteen years | Later thanfifteen years | Total | |
| (In millions) | |||||
| Domestic: | |||||
| Manufacturing | ¥5,530,576 | ¥4,071,454 | ¥1,339,225 | ¥339,013 | ¥11,280,268 |
| Agriculture, forestry, fisheries and mining | 81,510 | 140,667 | 20,781 | 570 | 243,528 |
| Construction | 595,264 | 363,872 | 121,451 | 26,426 | 1,107,013 |
| Transportation, communications and public enterprises | 2,059,099 | 2,443,544 | 1,422,019 | 395,913 | 6,320,575 |
| Wholesale and retail | 3,631,299 | 2,006,136 | 450,592 | 134,378 | 6,222,405 |
| Finance and insurance | 2,181,377 | 1,529,340 | 160,213 | 6,624 | 3,877,554 |
| Real estate and goods rental and leasing | 3,515,819 | 8,595,917 | 4,009,473 | 799,837 | 16,921,046 |
| Services | 2,001,224 | 2,194,115 | 1,076,729 | 177,572 | 5,449,640 |
| Municipalities | 156,577 | 270,739 | 135,081 | 11,270 | 573,667 |
| Lease financing | 33,116 | 9,417 | 5,959 | — | 48,492 |
| Consumer | 4,053,907 | 3,532,683 | 3,894,773 | 4,945,630 | 16,426,993 |
| Others | 2,434,965 | 202,742 | 52,826 | 692 | 2,691,225 |
| Total domestic | 26,274,733 | 25,360,626 | 12,689,122 | 6,837,925 | 71,162,406 |
| Foreign: | |||||
| Public sector | 39,940 | 459,326 | 94,940 | 4,392 | 598,598 |
| Financial institutions | 4,178,974 | 5,092,767 | 1,513,112 | 90,010 | 10,874,863 |
| Commerce and industry | 12,473,248 | 15,096,555 | 5,529,380 | 570,039 | 33,669,222 |
| Lease financing | 49,638 | 130,113 | 75,441 | 20,871 | 276,063 |
| Others | 1,492,778 | 3,792,498 | 1,115,152 | 204,540 | 6,604,968 |
| Total foreign | 18,234,578 | 24,571,259 | 8,328,025 | 889,852 | 52,023,714 |
| Total | ¥44,509,311 | ¥49,931,885 | ¥21,017,147 | ¥7,727,777 | ¥123,186,120 |
The above loans and advances due after one year which had predetermined interest rates and floating or adjustable interest rates at March 31, 2024 are shown in the following table:
| Predeterminedrate | Floating oradjustable rate | Total | |
|---|---|---|---|
| (In millions) | |||
| Domestic: | |||
| Manufacturing | ¥1,929,217 | ¥3,820,475 | ¥5,749,692 |
| Agriculture, forestry, fisheries and mining | 11,640 | 150,378 | 162,018 |
| Construction | 158,502 | 353,247 | 511,749 |
| Transportation, communications and public enterprises | 1,521,401 | 2,740,075 | 4,261,476 |
| Wholesale and retail | 903,359 | 1,687,747 | 2,591,106 |
| Finance and insurance | 302,459 | 1,393,718 | 1,696,177 |
| Real estate and goods rental and leasing | 4,499,980 | 8,905,247 | 13,405,227 |
| Services | 965,784 | 2,482,632 | 3,448,416 |
| Municipalities | 189,062 | 228,028 | 417,090 |
| Lease financing | 15,376 | — | 15,376 |
| Consumer | 3,685,967 | 8,687,119 | 12,373,086 |
| Others | 157,085 | 99,175 | 256,260 |
| Total domestic | 14,339,832 | 30,547,841 | 44,887,673 |
| Foreign: | |||
| Public sector | 652 | 558,006 | 558,658 |
| Financial institutions | 686,009 | 6,009,880 | 6,695,889 |
| Commerce and industry | 2,784,087 | 18,411,887 | 21,195,974 |
| Lease financing | 168,871 | 57,554 | 226,425 |
| Others | 516,367 | 4,595,823 | 5,112,190 |
| Total foreign | 4,155,986 | 29,633,150 | 33,789,136 |
| Total | ¥18,495,818 | ¥60,180,991 | ¥78,676,809 |
| IV. | Allowance for Credit Losses |
|---|
The following table shows allowance for credit losses to total loans outstanding at each period end for the fiscal years ended March 31, 2024, 2023 and 2022.
| For the fiscal year ended March 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In millions, except percentages) | |||
| Allowance for loan losses | ¥979,000 | ¥864,114 | ¥993,054 |
| Gross loans and advances | ¥123,186,120 | ¥113,143,827 | ¥105,953,699 |
| Ratio of allowance for loan losses to loans and advances | 0.79% | 0.76% | 0.94% |
The following table shows net charge-offs during the period to average loans outstanding during the period for the fiscal years ended March 31, 2024, 2023 and 2022.
| For the fiscal year ended March 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In millions, except percentages) | |||
| Net charge-offs during the period | ¥167,704 | ¥293,336 | ¥153,150 |
| Average loans outstanding during the period | ¥116,977,672 | ¥113,400,905 | ¥98,155,605 |
| Ratio of net charge-offs to average loans outstanding during the period | 0.14% | 0.26% | 0.16% |
The following table shows an analysis of our loan loss experience by the borrower’s domicile and industry type at March 31, 2024, 2023 and 2022.
| For the fiscal year ended March 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Netcharge-offs duringthe period | Ratio of netcharge-offsto averageloansoutstandingduring theperiod | Netcharge-offs duringthe period | Ratio of netcharge-offsto averageloansoutstandingduring theperiod | Netcharge-offs duringthe period | Ratio of netcharge-offsto averageloansoutstandingduring theperiod | |
| (In millions, except percentages) | ||||||
| Domestic: | ||||||
| Manufacturing | ¥15,594 | 0.14% | ¥147,575 | 1.41% | ¥14,584 | 0.15% |
| Agriculture, forestry, fisheries and mining | 284 | 0.10% | — | —% | 5,461 | 1.85% |
| Construction | 456 | 0.04% | 442 | 0.04% | 378 | 0.04% |
| Transportation, communications and public enterprises | 238 | 0.00% | 6,451 | 0.10% | 604 | 0.01% |
| Wholesale and retail | 3,977 | 0.07% | 8,020 | 0.13% | 3,533 | 0.06% |
| Finance and insurance | 175 | 0.01% | 5 | 0.00% | — | —% |
| Real estate and goods rental and leasing | 831 | 0.01% | 100 | 0.00% | 190 | 0.00% |
| Services | 1,827 | 0.04% | 3,253 | 0.07% | 3,762 | 0.08% |
| Consumer | 90,401 | 0.56% | 82,010 | 0.53% | 89,542 | 0.60% |
| Others | 1,476 | 0.06% | 357 | 0.02% | 510 | 0.02% |
| Total domestic | 115,259 | 0.17% | 248,213 | 0.38% | 118,564 | 0.19% |
| Foreign: | 52,445 | 0.11% | 45,123 | 0.09% | 34,586 | 0.09% |
| Total | ¥167,704 | 0.14% | ¥293,336 | 0.26% | ¥153,150 | 0.16% |
| V. | Deposits |
|---|
The following table shows the average amount of, and the average rate paid on, the following deposit categories for the fiscal years ended March 31, 2024, 2023 and 2022.
| 2024 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Averageamount | Averagerate | Averageamount | Averagerate | Averageamount | Averagerate | |
| (In millions, except percentages) | ||||||
| Domestic offices: | ||||||
| Non-interest-bearing demand deposits | ¥32,115,337 | — | ¥29,468,962 | — | ¥27,268,871 | — |
| Interest-bearing demand deposits | 71,997,238 | 0.00% | 69,154,600 | 0.00% | 65,657,246 | 0.00% |
| Deposits at notice | 817,716 | 0.00% | 767,795 | 0.00% | 797,908 | 0.00% |
| Time deposits | 16,909,290 | 0.03% | 17,474,088 | 0.03% | 17,733,387 | 0.03% |
| Negotiable certificates of deposit | 4,242,120 | 0.00% | 4,626,441 | 0.00% | 5,228,231 | 0.00% |
| Others | 9,201,640 | 2.31% | 9,220,192 | 1.02% | 8,117,256 | 0.03% |
| Total domestic offices | 135,283,341 | 130,712,078 | 124,802,899 | |||
| Foreign offices: | ||||||
| Non-interest-bearing demand deposits | 2,654,468 | — | 2,761,743 | — | 1,847,365 | — |
| Interest-bearing demand deposits | 5,516,729 | 3.83% | 4,957,671 | 1.86% | 4,088,493 | 0.43% |
| Deposits at notice | 13,351,934 | 4.69% | 13,579,493 | 2.37% | 10,613,593 | 0.01% |
| Time deposits | 12,255,976 | 4.87% | 9,819,996 | 2.96% | 6,930,976 | 0.79% |
| Negotiable certificates of deposit | 9,959,803 | 5.20% | 9,501,520 | 2.76% | 6,346,824 | 0.30% |
| Others | 113,678 | 2.26% | 221,383 | 0.72% | 196,666 | 0.12% |
| Total foreign offices | 43,852,588 | 40,841,806 | 30,023,917 | |||
| Total | ¥179,135,929 | ¥171,553,884 | ¥154,826,816 | |||
Deposits at notice represent interest-bearing demand deposits which require the depositor to give two or more days’ notice in advance of withdrawal.
The total amount of deposits by foreign depositors included in domestic offices for the fiscal years ended March 31, 2024 and 2023 were ¥2,782,409 million and ¥3,366,448 million, respectively.
Uninsured Deposits
The total estimated amounts of uninsured deposits which are the portion of deposit accounts that exceed the insurance limit and amounts in the other uninsured deposit accounts at March 31, 2024 and 2023 were ¥125,356,002 million and ¥116,546,609 million, respectively. In Japan, the Deposit Insurance Act implemented by the Deposit Insurance Corporation of Japan protects depositors when deposit-taking institutions fail to meet their obligations by paying insurance money to depositors. The amount of coverage for deposits for payment and settlement purposes is full and deposits other than those is protected up to the principal amount of ¥10 million plus accrued interest per depositor. For additional information, refer to “Item 4.B. Business Overview -Regulations in Japan.”
At March 31, 2024, the amount and remaining maturities of uninsured time deposits and uninsured negotiable certificates of deposit are shown in the following table.
| Domesticoffices | Foreignoffices | |
|---|---|---|
| (In millions) | ||
| Uninsured time deposits: | ||
| Not later than three months | ¥3,516,883 | ¥7,477,459 |
| Later than three months and not later than six months | 1,664,846 | 1,936,587 |
| Later than six months and not later than one year | 2,277,420 | 922,625 |
| Later than one year | 2,004,706 | 728,978 |
| Total(1) | ¥9,463,855 | ¥11,065,649 |
| Uninsured negotiable certificates of deposit: | ||
| Not later than three months | ¥3,330,633 | ¥7,497,691 |
| Later than three months and not later than six months | 112,291 | 2,745,291 |
| Later than six months and not later than one year | 80,500 | 268,008 |
| Later than one year | 60,000 | 577,670 |
| Total | ¥3,583,424 | ¥11,088,660 |
| (1) | Time deposits in excess of the Federal Deposit Insurance Corporation insurance limit in U.S. office amounted to ¥2,179 million at March 31, 2024. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.