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Japan's largest trust bank, combining asset management, custody, real estate and trust banking with commercial banking.
Japan's largest trust bank, combining asset management, custody, real estate and trust banking with commercial banking.
Earns fees for managing and safekeeping pension and investment money, and for real-estate brokerage and inheritance services, beside ordinary lending. Custody Bank of Japan, a joint venture with Mizuho, holds a huge amount of institutional assets. The group was formed by combining Sumitomo Trust and Chuo Mitsui Trust in 2012.
In one line: A trust-bank hybrid like a smaller State Street plus Northern Trust.
Moat: narrow (scale, regulatory licence, installed base). Largest trust-bank franchise in Japan with entrenched pension/asset-custody relationships.
Headquarters: Tokyo, Japan · Founded: 2002 · Employees: 22,526
Size Sumitomo Mitsui Trust Gp (8309.T) is a Japan Financials company (Major Banks) with a market value of $27.4B, the 61st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,704 on 6 Nov 2026.
Performance Over six months the shares gained 38.0%, against +2.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +3.9%); the operating margin is 22.1% (peer median 37.6%).
Valuation It trades at 1.18× book value against a peer median of 1.34× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 7.5%; Sumitomo Mitsui Trust Gp delivers 10.9%, so the price asks less than the business earns today.
Credit Sumitomo Mitsui Trust Gp has 12 bonds outstanding ($7.59B), rated A by the agencies and trading like A+ at a weighted spread of 71 bp.
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.87T | ¥2.91T | ¥2.83T | ¥2.14T | ¥1.69T |
| Revenue growth | — | +3% | +33% | +26% | — |
| Net income | ¥369B | ¥318B | ¥258B | ¥79.2B | ¥191B |
| Free cash flow | n/a | ¥711B | ¥1.10T | ¥279B | ¥850B |
| Capital expenditure | n/a | ¥90.5B | ¥85.8B | ¥76.5B | ¥62.9B |
| Total debt | ¥20.1T | ¥20.8T | ¥21.8T | ¥20.4T | ¥18.2T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Sumitomo Mitsui Trust Gp 8309.T | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% |
| Mitsubishi Ufj Financial 8306.T | $230B | +14% | +11% | 13% | 1.60× | 11.2% |
| State Street STT | $45.0B | +11% | +2% | 13% | 1.83× | 19.1% |
| Northern Trust NTRS | $31.3B | +8% | +7% | 18% | 2.51× | 23.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8309.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.3% | 0.0% | highest of 21 |
| 6-month return | +38.0% | +2.1% | 2nd highest of 21 |
| Return on equity | 10.9% | 11.6% | 10th lowest of 21 |
| Price / book | 1.18× | 1.34× | 10th cheapest of 21 |
| Trailing P/E | 11.9× | 11.8× | 10th most expensive of 20 |
| ROE the price implies | 7.5% | 9.6% | 9th least demanding of 21 |
| ROE delivered | 10.9% | 12.1% | 8th lowest of 19 |
| Bond spread | 71 bp | 88 bp | 4th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sumitomo Mitsui Trust Gp 8309.T | Japan | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% | 10.9% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| China Everbright Bank 6818.HK | Hong Kong | $26.6B | -10% | -3% | 5% | 0.28× | 3.9% | 5.5% |
| Citizens Financial CFG | United States | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% | 8.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| E Sun Financial 2884.TW | Taiwan | $25.2B | +55% | +36% | 15% | 2.70× | 7.6% | 14.7% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| Regions Financial RF | United States | $24.1B | +2% | +1% | 12% | 1.46× | 13.2% | 12.4% |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| Mega Financial 2886.TW | Taiwan | $24.0B | +37% | +1% | 10% | 1.97× | 5.9% | 10.0% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| Bank of Nanjing 601009.SS | China | $22.8B | +5% | +6% | 12% | 0.77× | 2.8% | 11.9% |
| Banco BPM BAMI.MI | Italy | $22.8B | +1% | -4% | 12% | 1.30× | 13.5% | 12.5% |
| Hanafinancialgr 086790.KS | South Korea | $22.5B | -7% | +39% | 10% | 0.79× | 5.3% | n/a |
| KeyCorp KEY | United States | $22.0B | -3% | +9% | 11% | 1.39× | 13.1% | 11.2% |
| China Minsheng Banking 1988.HK | Hong Kong | $21.9B | -13% | -5% | 4% | 0.20× | 3.8% | 4.2% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| Banco de Chile Sponsored ADR BCH | United States | $19.6B | +7% | +4% | 22% | 3.15× | 13.6% | 21.8% |
| Banco de Sabadell SAB.MC | Spain | $19.2B | +8% | -35% | 5% | 1.40× | 15.5% | 5.1% |
Sumitomo Mitsui Trust Gp has 12 bonds outstanding with $7.59B face value. The agencies rate it A; its bonds trade like A+. Weighted yield 4.83%, a spread of 71 bp over government bonds.