Sumitomo Mitsui Financial Group
|Traded as||TYO: 8316
|Industry||Banking, Financial services|
|Predecessor(s)||Sumitomo Mitsui Banking Corporation|
|Founded||December 2, 2002|
|Headquarters||Chiyoda-ku, Tokyo, Japan|
|Key people||Teisuke Kitayama (President)|
|Revenue||¥3.073 trillion (2011)[* 1]|
|Profit||¥550.84 billion (2011)[* 1]|
|Total assets||¥131.48 trillion (2011)[* 1]|
|Total equity||¥5.303 trillion (2011)[* 1]|
|Employees||62,379 (2011)[* 1]|
|Subsidiaries||SMBC Friend Securities Co., Ltd.|
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.
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.
- 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.
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- Official website: http://www.smfg.co.jp/english/