Suvarna Garge (Editor)

Sumitomo Mitsui Financial Group

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Type
  
Public

Area served
  
Worldwide

Number of employees
  
62,379 (2011)

Key person
  
Koichi Miyata

ISIN
  
JP3890350006

Total assets
  
9.753 trillion JPY (2015)

Founded
  
2 December 2002

Sumitomo Mitsui Financial Group httpsiforbesimgcommedialistscompaniessumi

Traded as
  
TYO: 8316 NSE: 83160 NYSE: SMFG TOPIX Core 30 Component

Industry
  
Banking, Financial services

Key people
  
Koichi Miyata (President)

Stock price
  
8316 (TYO) JP¥ 4,116 +4.00 (+0.10%)31 Mar, 1:07 PM GMT+9 - Disclaimer

Headquarters
  
Chiyoda, Tokyo, Tokyo, Japan

Subsidiaries
  
Sumitomo Mitsui Banking Corporation

Sumitomo mitsui financial group


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).

Contents

It holds assets of around US $1.8 trillion and is one of the largest financial institutions in the world.

1 nov 2010 sumitomo mitsui financial group opening bell


Group companies

  • 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.
  • December 2002

    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.

    February 2003

    Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, and The Japan Research Institute became wholly owned subsidiaries of SMFG.

    June 2004

    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.

    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.

    September 2006

    SMBC Friend Securities became a wholly owned subsidiary of SMFG.

    October 2006

    SMFG reached an agreement to pursue strategic joint business with the Sumitomo Corporation group in the leasing and auto leasing businesses.

    May 2009

    SMFG acquires Nikko Cordial, a brokerage, from Citigroup.

    January 2012

    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.

    September 2014

    It raises profit estimate.

    December 2014

    Sumitomo announced that they would acquire Citigroup’s Japanese consumer banking business for a fee of around $334 million.

    April 2016

    Sumitomo Mitsui Finance and Leasing completed the acquisition of General Electric Group's leasing business in Japan.

    References

    Sumitomo Mitsui Financial Group Wikipedia