Sumitomo Mitsui Reports 25% Decline In Net Profit, Lifts Net Profit Forecast

Sumitomo Mitsui Financial Group Inc

reported a 25% decline in its group net profit for the fiscal first half ended September. Sumitomo Mitsui's net profit for the period dropped to Y313.76 billion, from Y417.49 billion, in the year-ago period. Group operating revenue climbed 3.2% to Y2.045 trillion versus Y1.981 trillion. For the current fiscal year ending in March 2012, Sumitomo Mitsui lifted its group net profit forecast to Y500 billion versus Y400 billion. Sumitomo Mitsui shares closed at $26.79 yesterday.