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Sumitomo Mitsui Financial Group
Type Public (TYO: 8316)
Founded 2002
Headquarters Tokyo, Japan
Key people Teisuke Kitayama : President
Industry Financial Services
Employees 20,322 (consolidated) (2005)
Subsidiaries Sumitomo Mitsui Banking Corporation
Website http://www.smfg.co.jp/

Sumitomo Mitsui Financial Group (株式会社三井住友フィナンシャルグループ Kabushiki-gaisha Mitsui Sumitomo Finansharu Gurūpu ?) (TYO: 8316), or SMFG, is a Japanese financial group, the second largest bank in Japan by market value (as of Nov 2009).

It holds assets of around US $1.3 trillion and is one of the largest companies of the Sumitomo Group.

Contents

Group companies

  • Sumitomo Mitsui Banking Corporation
  • Sumitomo Mitsui Card Company. Limited
  • SMBC Leasing Company. Limited
  • The Japan Research Institute. Limited
  • SMBC Friend Securities Co., Ltd.
  • Daiwa SB Investments Ltd.
  • Daiwa Securities SMBC Co., Ltd.

History

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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.

See also

External links


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