Sumitomo Trust & Banking Co. said Monday its group net balance last business year returned to the black at 79.63 billion yen, partly due to a plunge in its loan-loss charges.
The previous year's loss was 72.97 billion yen. However, the trust bank's operating revenue in the year to March 31 fell 11.5 percent to 498.26 billion yen.
The pretax balance also swung into the black, at 135.69 billion yen, compared with the previous year's loss of 66.16 billion yen. Per-share net profit came to 53.99 yen, a turnaround from the previous year's loss of 50.80 yen.