Sony Financial Holdings (Consolidated)
FY2016 (fiscal year ended Mar. 31, 2017) Consolidated Operating Results and FY2017 (fiscal year ending Mar. 31, 2018) Forecast of Consolidated Financial Results
- In FY2016, amid an environment of ultralow interest rates, we expeditiously introduced measures to improve profitability, and all three businesses steadily expanded their business scale. Consolidated ordinary revenues increased year on year, owing to increases in ordinary revenues from all the businesses: life insurance business, non-life insurance and banking businesses. Consolidated ordinary profit decreased year on year, owing to decreases in ordinary profit from the life insurance and the banking businesses, whereas ordinary profit from the non-life insurance business increased. Profit attributable to owners of the parent was down year on year, due to the decrease in consolidated ordinary profit.
- For FY2017 forecast of consolidated financial results, performance of the life insurance business in FY17.3Q (9M) differed from our initial forecasts announced on April 28, 2017. As a result, we have revised upward our full-year forecast for consolidated ordinary revenues, downward for consolidated ordinary profit and upward for profit attributable to owners of the parent. We have revised downward our forecast for consolidated ordinary profit because Sony Life did not sell securities as initially expected, and therefore did not record the associated gains on the sale of securities. This resulted in the posting of a valuation loss on derivatives used as hedges. We have revised upward our forecast for profit attributable to owners of the parent due to the recording of gains on the sale of the real estate held for investment as extraordinary gains. Preliminary Consolidated Financial Results for the Nine Months Ended December 31, 2017, and Revision of Consolidated Financial Results and Dividends Forecast for the Fiscal Year Ending March 31, 2018 (Prepared in Accordance with Japanese GAAP) (Announced on Feb. 2, 2018)
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|For the years ended March 31|
|Ordinary revenues (Billions of yen)||1,259.0||1,320.4 **||1,352.3||1,362.0||1,381.6||1,540.0|
|Ordinary profit (Billions of yen)||79.2||76.1||90.0||71.1||66.3||64.0|
|Profit attributable to owners of the parent *** (Billions of yen)||45.0||40.5||54.4||43.3||41.6||50.0|
|As of March 31|
|Total assets (Billions of yen)||8,096.1||8,841.3||9,545.8||10,352.1||11,471.8||-|
* 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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