August 29, 2012, 9:52 am -- /EPR NETWORK/ -- 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."
About Sumimoto Associates
Innovation is the key as to how Sumimoto Associates expands. Without innovation we would be stagnant, with it we are able to lead the industry with new ideas. It is important that we react to trends and market shifts so we can change and lead. The global investment environment is getting larger and more involved every year, innovation makes sure that we can adapt to the changing times. It allows us to react swiftly and to gain a head start on our competitors.We use the latest technology and financial tools there are available. By meticulously understanding the markets with the use of applied technology we can form a strong base for wealth accumulation.