Sumitomo Mitsui Financial Group
|Industry||Banking, Financial services|
|Founded||December 2, 2002|
|Headquarters||Chiyoda, Tokyo, Japan|
|Koichi Miyata (President)|
|Revenue||¥3.073 trillion (2011)|
|Profit||¥550.84 billion (2011)|
|Total assets||¥9.753 trillion (2015)|
|Total equity||¥5.303 billion (2011)|
Number of employees
|Subsidiaries||SMBC Friend Securities Co., Ltd.|
Footnotes / references
Sumitomo Mitsui Financial Group, Inc. (SMFG; 株式会社三井住友フィナンシャルグループ Kabushiki kaisha mitsui sumitomo finansharu gurūpu) is a Japanese bank holding / financial services company established by Sumitomo Mitsui Banking Corporation, which is the second largest bank in Japan by market value (as of Nov 2009).
It holds assets of around US $1.8 trillion and is one of the largest financial institutions in the world.
- Sumitomo Mitsui Banking Corporation
- Sumitomo Mitsui Card Company. Limited
- Sumitomo Mitsui Finance and Leasing Co., Ltd.
- The Japan Research Institute. Limited
- SMBC Friend Securities Co., Ltd.
- Daiwa SB Investments Ltd.
- Daiwa Securities SMBC Co., Ltd.
Sumitomo Mitsui Financial Group, Inc. (SMFG) is established through a share transfer from Sumitomo Mitsui Banking Corporation. SMFG's shares become listed on the first section of the Tokyo Stock Exchange, the Osaka Securities Exchange and the Nagoya Stock Exchange.
Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, and The Japan Research Institute became wholly owned subsidiaries of SMFG.
SMFG reached an agreement to form a strategic alliance with Promise Co., Ltd. on consumer finance business. The two firms started collaborative business in April 2005.
SMFG reached an agreement to form a strategic alliance with NTT DoCoMo on credit card business. A portion of the shares of Sumitomo Mitsui Card held by SMFG were transferred to NTT DoCoMo, and Sumitomo Mitsui Card issued new shares and allocated them to NTT DoCoMo by means of third party allocation in July 2005. Collaborative business began in December 2005.
SMBC Friend Securities became a wholly owned subsidiary of SMFG.
SMFG reached an agreement to pursue strategic joint business with the Sumitomo Corporation group in the leasing and auto leasing businesses.
The company has agreed to buy Royal Bank of Scotland Group Plc's aircraft leasing division for $7.3 billion in the world's biggest acquisition of a leasing business as of January 2012.
Sumitomo announced that they would acquire Citigroup’s Japanese consumer banking business for a fee of around $334 million.
- Finch, Gavin; Hyuga, Takahiko (January 17, 2012). "Sumitomo Mitsui to Buy RBS's Aviation Division for $7.3 Billion". San Francisco Chronicle. Archived from the original on January 20, 2012.
- Japan's SMFG raises H1 net profit estimate by 39 pct
- Sumitomo Mitsui to buy Citigroup's Japan retail unit. Reuters, 9 December 2014
- "Sumitomo Mitsui unit to buy GE's Japan Leasing Business". Wall Street Journal. Retrieved May 2016. Check date values in:
- "Sumitomo Mitsui Finance and Leasing completed the acquisition of General Electric Group's leasing business in Japan". Retrieved May 2016. Check date values in:
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- Official website: http://www.smfg.co.jp/english/