Sony Financial Holdings (Consolidated)
FY2015 (fiscal year ended Mar. 31, 2016) Consolidated Operating Results and FY2016 (fiscal year ending Mar. 31, 2017) Consolidated Financial Forecast
- In FY2015, Sony Life’s new policy amount surpassed ¥5 trillion, reaching the highest level to date. Sony Bank also performed favorably, thanks to the introduction of Sony Bank WALLET and other new products. As a result, the Group’s business volume continued to expand steadily. However, consolidated ordinary profit declined year on declined year on year, owing to a rise in provision of policy reserves for minimum guarantees for variable life insurance stemming from an increase in new policies and the worsened financial market conditions at Sony Life.
- In FY2016, we expect the business environment to worsen somewhat with negative interest rates continuing, but we anticipate that each Group company will continue to steadily expand its field of business. Consequently, we forecast a 6.5% increase in consolidated ordinary revenues year on year, essentially flat consolidated ordinary profit and a rise in profit attributable to owners of the parent owing to a reduction in the corporate tax rate. (As of May 16, 2016)
|For the years ended March 31|
|Ordinary revenues (Billions of yen)||1,078.0||1,259.0||1,320.4 **||1,352.3||1,362.0||1,450.0|
|Ordinary profit (Billions of yen)||74.6||79.2||76.1||90.0||71.1||71.0|
|Profit attributable to owners of the parent *** (Billions of yen)||32.8||45.0||40.5||54.4||43.3||46.0|
|As of March 31|
|Total assets (Billions of yen)||7,241.4||8,096.1||8,841.3||9,545.8||10,352.1||-|
* Figures less than the indicated unit have been truncated.
** Banking business revised its method of recording ordinary revenues and ordinary expenses on hedge transactions from FY2014. Ordinary revenues for FY2013 have been retroactively adjusted to reflect the change. Consequently, consolidated ordinary revenues for FY2013 have been revised from ¥1,319.7 billion to ¥1,320.4 billion.
*** Starting FY2015, the figures previously reported as "Net income" are stated as "Profit attributable to owners of the parent" in accordance with the Accounting Standard for Business Combinations (ASBJ Statement No. 21, on Sep. 13, 2013) and the related revision.
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