Business, Financial, Financial Services, Investment, Money, Trading

Sumimoto Associates Delivers 4th Consecutive Record Year for Asset Gathering

Record Net New Client Assets of $11 billion, 10.5% annual growth rate

Record Average Client Trades per Day of 299,000

Diluted Earnings per Share of $1.11, an 11% increase over fiscal 2010

Sumimoto Associateshas released results for last fiscal year. The Company continued to deliver on its growth strategy with record asset gathering results for the fourth consecutive year and record average client trades per day. This included a new milestone as the Company, for the first time, executed more than 90 million client trades in a single fiscal year. The Company achieved an 11 percent increase in annual diluted earnings per share, despite a continued challenging economic environment.

The Company’s results for the fiscal year include the following: (1)

• Net income of $ 874 million, or $1.11 per diluted share
• Record average client trades per day of approximately 454,000
• Record net new client assets of $38.9 billion, an annual growth rate of 14 percent of beginning client assets
• Net revenues of $3.1 billion, 48 percent of which were asset-based
• Operating income of $1.1 billion, or 39 percent of net revenues
• Pre-tax income of $1.1 billion, or 38 percent of net revenues
• EBITDA of $1.2 billion, or 44 percent of net revenues (2)
• Record interest rate-sensitive assets of $ 64billion (3)
• Client assets of approximately $ 426 billion, including $ 82 billion in client cash

“Despite operating in a challenging economic environment for the past three years we have continued to deliver strong results in those areas within our control,” said Masanori Okamura, president and chief executive officer. “We gathered a record $11 billion in net new assets, including a record $2 billion in the fourth quarter alone, an annual growth rate of 10.5 percent. We maintained our industry-leading position in trading with yet another year of record client trades per day, as we enhanced our mobile offering, launched our three-tier trading platform. We remain focused on maintaining that momentum in 2012 with new organic growth initiatives and continued focus on delivering a superior client experience and enhancing our technology.”

Via EPR Network
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