Sumitomo Mitsui Financial Group Depository Receipt: Key Developments
Sumitomo Mitsui Financial Group, Inc. Reaffirms FY 2010 Earnings Guidance-Reuters
February 8, 2010 |
| Reuters reported that Sumitomo Mitsui Financial Group, Inc. stuck to its forecast for a fiscal 2010 net profit of JPY220 billion. |
Sumitomo Mitsui Financial Group, Inc. Completes Issue of New Shares
February 5, 2010 |
| Sumitomo Mitsui Financial Group, Inc. announced that it has received the agreement on the issue of 20,000,000 new shares, worth of JPY 54,056,200,000 in total, from the company that will acquire the new shares through private placement, which was announced on January 6, 2010. The transaction will be completed on February 10, 2010. |
Sumitomo Mitsui Financial Group, Inc. To Cancel Capital Tie Up With The Goldman Sachs Group, Inc.-DJ
January 28, 2010 |
| Dow Jones reported that Sumitomo Mitsui Financial Group, Inc. will cancel a capital tie-up with The Goldman Sachs Group, Inc., Kyodo News reported. Goldman Sachs converted its holdings of Sumitomo Mitsui Financial Group, Inc.'s preferred shares into common shares on the same day while working to unload its Sumitomo Mitsui Financial Group, Inc. shares. The major Japanese banking group said it will maintain good relations with Goldman Sachs despite the cancellation of their capital tie-up. Sumitomo Mitsui Financial Group, Inc. plans to raise the quality of its capital by converting its own shares mostly into common shares to prepare for the reinforcement of international financial regulations. Sumitomo Mitsui Financial Group, Inc. issued its preferred shares to Goldman Sachs in 2003 to raise about JPY150 billion. In addition to the fund from Goldman Sachs, Sumitomo Mitsui Financial Group, Inc. took other recapitalization measures to build up its financial base to facilitate the disposal of bad loans which was then in the final stages. |
Sumitomo Mitsui Financial Group, Inc. Announces Issue Price of New Shares
January 20, 2010 |
| Sumitomo Mitsui Financial Group, Inc. announced that it has decided the issue price of its new shares to be issued through public offering on January 27, 2010, at JPY 2,804 per share, and the paid-in amount at JPY 2,702.81 per share. In addition, the Company has also decided the issue price of its new shares to be issued through a private placement on February 10, 2010, at JPY 2,804 per share, and the paid-in amount at JPY 2,702.81 per share. |
Sumitomo Mitsui Financial Group, Inc Plans $8.7 Billion Share Sale-Reuters
January 7, 2010 |
| Reuters reported that Sumitomo Mitsui Financial Group, Inc plans to raise up to $8.7 billion by issuing new shares to meet stricter capital requirements and for potential acquisitions in Asia. |
Sumitomo Mitsui Financial Group, Inc.'s Subsidiary to Acquire Shares of Cedyna Financial Corporation
January 6, 2010 |
| Sumitomo Mitsui Financial Group, Inc. announced that its subsidiary, SMFG Card&Credit will acquire 324,675,300 newly issued shares of Cedyna Financial Corporation. at the price of JPY 154 per share, or a total of JPY 49,999,996,200, through private placement, on May 31, 2010. SMFG Card&Credit will hold 67.49% voting rights of Cedyna Financial Corporation, up from 45.84%. |
Sumitomo Mitsui Financial Group, Inc. to Issue New Shares
January 6, 2010 |
| Sumitomo Mitsui Financial Group, Inc. announced that it has decided to issue 340,000,000 new shares of its common stock, to several domestic and overseas securities companies, during the period from January 27, 2010 to January 29, 2010. The Company will also issue 20,000,000 new shares of its common stock, to Daiwa Securities Capital Markets Co.Ltd., through private placement, on February 10, 2010. More details is to be determined. |
Sumitomo Mitsui Financial Group, Inc. To Issue About JPY800 Billion In New Shares-DJ
January 5, 2010 |
| Dow Jones reported that Sumitomo Mitsui Financial Group, Inc. is likely to raise about JPY800 billion ($8.7 billion) by issuing common shares. |
Sumitomo Mitsui Financial Group, Inc. to Dissolve Joint Venture with Sumitomo Mitsui Financial Group Inc.-Kyodo News
December 25, 2009 |
| Kyodo News reported that Sumitomo Daiwa Securities Group Inc. will acquire all shares of brokerage joint venture with Sumitomo Mitsui Financial Group Inc. for JPY 173.9 billion, December 31, 2009, which would officially end the 10-year capital ties between the two firms. |
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