10 Best Japanese Stocks To Buy Now

04. Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Number of Hedge Fund Holders: 13

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) is a prominent Japanese financial institution with a global footprint, offering a range of services including banking, leasing, securities, and consumer finance. Its inclusion in the article ’10 Best Japanese Stocks to Buy Now’ is justified by its significant presence in Japan and its expansion into international markets. Listed on major stock exchanges such as the Tokyo Stock Exchange and the New York Stock Exchange, SMFG’s strong financial results underline its robust fundamentals, making it a compelling investment opportunity.

For the three months ended June 30, 2024, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) reported an impressive financial performance. Ordinary income increased by 11% year-over-year to ¥2.52 trillion, while ordinary profit surged by 49.2% to ¥520.9 billion. Profit attributable to the owners of the parent reached ¥371.4 billion, reflecting a substantial 49.7% increase compared to the same period last year. These significant gains demonstrate the company’s ability to efficiently manage its operations across various segments, including retail and global markets, despite a challenging macroeconomic environment.

One of the key financial metrics that bolsters Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) investment appeal is its earnings per share (EPS), which rose to ¥283.09, up from ¥185.69 in the prior year. This sharp increase in EPS reflects the company’s profitability and efficient capital management. The company’s total assets grew from ¥295.2 trillion as of March 31, 2024, to ¥301.99 trillion by June 30, 2024, further emphasizing its strong financial position.

Additionally, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) has announced a three-for-one stock split, effective September 2024, which could make the stock more accessible to a broader range of investors. The company’s dividend forecast also remains robust, with projected annual dividends of ¥330.00 per share post-split, which reflects Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) commitment to returning value to shareholders. With strong revenue growth, increasing profitability, and a solid financial foundation, Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) is ideally situtated for continued success, making it an attractive stock for investors looking for stable growth in the Japanese market.