Sumitomo Mitsui Financial Group, Inc., together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit. The Wholesale Business Unit segment offers financing, investment management, risk hedging, and settlement services, as well as financial solutions related to mergers and acquisition, and other advisory services primarily for large, mid, and small-sized corporate clients; various leasing services, including equipment, and operating and leveraged leasing; and digital services, such as robotic process automation and electronic contract services. The Retail Business Unit segment offers wealth management, settlement, consumer finance, and housing loan products and services, as well as business and asset succession services to high-net-worth customers. The Global Business Unit segment offers loans, deposits, clearing services, trade finance, project finance, loan syndication, derivatives, and cash management services; underwriting services; and leasing services related to the construction machinery, transportation equipment, industrial machinery, medical equipment, and aircraft leasing. The Global Markets Business Unit segment offers solutions through foreign exchange products, derivatives, bonds, stocks, and other marketable financial products. It also undertakes asset liability management operations. The company also offers credit card, Internet banking, system development and engineering, data processing, management consulting and economic research, and investment advisory and investment trust management services. Sumitomo Mitsui Financial Group, Inc. was incorporated in 2002 and is headquartered in Tokyo, Japan.
IPO Year:
Exchange: NYSE
Website: smfg.co.jp
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/20/2023 | Buy → Neutral | Goldman | |
| 11/1/2022 | Buy | Nomura | |
| 6/23/2022 | Neutral → Buy | BofA Securities | |
| 4/11/2022 | Buy → Neutral | BofA Securities |
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6-K - SUMITOMO MITSUI FINANCIAL GROUP, INC. (0001022837) (Filer)
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Jefferies and SMBC Group's Strategic Alliance Expands to Additional Businesses, Including a Full Suite of Capabilities for U.S. Investment Grade Companies, to Further Enhance Investment Banking Services to Our Broad Client Base Jefferies and SMBC Group to Combine U.S. Equities and M&A Efforts under Jefferies SMBC Intends to Increase Economic Ownership to Up to 15% of Jefferies By Purchasing Shares and Will Designate One Jefferies Director Jefferies Financial Group, Inc. (NYSE:JEF) ("Jefferies") and Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG"), Sumitomo Mitsui Banking Corporation ("SMBC"), SMBC Nikko Securities Inc. ("SMBC Nikko"), and SMBC Nikko Securities America Inc. (
SMBC and SMBC Nikko Securities America, Inc., members of SMBC Group, announced the completed execution of one the largest private placements in Latin America in recent history, refinancing Innergex's Chilean platform, with several businesses playing integral roles in the deal's success. The deal involved the close of Aela Generación S.A.'s $710MM green bond issuance, the proceeds of which were used to partially finance the Aela acquisition, refinance all existing debt in a portfolio of 609MW, and fund the installation of a battery energy storage system. "The closing of this transaction demonstrates the well-coordinated effort among several deal teams that brought market-leading execution o
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In a significant strategic move, Toyota Motor Corp. (NYSE:TM) has announced plans to repurchase ¥806.8 billion ($5.2 billion) of its shares from key Japanese banks and insurers. The move is part of a broader strategy to untangle its shareholdings with financial partners. What Happened: The shares will be bought back from Mitsubishi UFJ Financial Group Inc. (NYSE:MUFG), Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG), Tokio Marine Holdings Inc. (OTC:TKOMY), and MS&AD Insurance Group Holdings Inc. (OTC:MSADY) at ¥2,781 each, an 11% discount to their closing price on Tuesday, Bloomberg reported on Tuesday. This move is part of a ¥1 trillion ($6.4 billion) repurchase plan announced by Toy
The stock prices of major Japanese automakers, including Toyota Motor Corp. (OTC:TOYOF), Mazda Motor Corp. (OTC:MZDAY), Honda Motor Co., Ltd. (OTC:HNDAF), and Suzuki Motor Corp. (OTC:SZKMY), have taken a hit following a safety scandal. What Happened: The Japanese transport ministry discovered that false data was used to certify certain models, leading to a significant drop in the stock prices of these automakers, reported CNBC on Sunday. Toyota, the largest carmaker in Japan, saw its shares plummet by over 5.4% last week, resulting in a market value loss of 2.45 trillion Japanese yen ($15.62 billion). Mazda, the second-largest automaker in Japan, experienced a 7.7% fall in its shares,
Mitsubishi UFJ Financial Group Inc. (NYSE:MUFG) and Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG) are reportedly set to divest approximately ¥1.32 trillion ($8.5 billion) worth of strategic shareholdings in Toyota Motor Corp. (NYSE:TM). The major move indicates a strong commitment by Japan’s major corporations to dismantle their extensive network of cross-held shares. This strategic unwinding is designed to mitigate any adverse effects on Toyota’s share price, reported Bloomberg. The banks will divest in phases, leveraging Toyota’s recent buyback initiative. On May 8, Toyota announced a ¥1 trillion buyback plan, equivalent to about 3% of its stock, marking a substantial increase fro
Jefferies Financial Group Inc. (NYSE:JEF) ("Jefferies") and SMBC Group announced today that they have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market. SMBC Group comprises Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG"), Sumitomo Mitsui Banking Corporation ("SMBC"), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., and other group companies.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404149034/en/In December 2023, Jefferies announced that it established full-service investment banki
The bank welcomes Michael Trivich, MD, Chief Credit Officer; Monica Sparks, ED, Chief Accounting Officer; and Jeff Jones, MD, Chief Information Officer SMBC MANUBANK, a wholly owned subsidiary of SMBC Americas Holdings, Inc., and a member of SMBC Group, announced it has appointed three new executives to lead the Credit, Accounting, and Information Technology functions as part of the bank's ongoing business transformation. Michael Trivich joined the bank in June as Managing Director, Chief Credit Officer. Leading the bank's 2nd line of defense Credit Risk Administration, Mr. Trivich balances loan portfolio growth with prudent credit risk controls, as well as designing the client experien
Jefferies Financial Group, Inc. (NYSE:JEF) ("Jefferies") today announced the appointment of the Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG") President and Group Chief Executive Officer, Toru Nakashima, to Jefferies' Board of Directors effective August 12, 2024. The appointment of Mr. Nakashima further strengthens the strategic alliance between Jefferies and the SMBC Group first announced in 2021 and then further expanded in 2023 and 2024. Consistent with agreements between Jefferies and Sumitomo Mitsui Banking Corporation ("SMBC"), SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as-converted and fully diluted basis, and recently increased its
The Sumitomo Mitsui Banking Corporation (SMBC) Americas Division today announced that Brian Reed has joined the bank to lead the Industrials Group as SMBC's expansion continues in the Americas. Based in New York and reporting to Stephanie Bowker and Yoshiyuki Natsuyama, Brian will focus on growing the industrials business and overseeing a team of bankers covering SMBC clients across the industrials space. His extensive industry relationships and proven experience will strengthen SMBC's growing CIBC business. Brian will focus on growing the industrials business and overseeing a team of bankers covering SMBC clients across autos, transportation & mobility, aerospace & defense, and diversifi
The new digital banking division of SMBC MANUBANK hits milestone by deeply understanding consumers' needs and empowering them with a market-leading rate Jenius Bank™ the new digital division of SMBC MANUBANK, a wholly-owned subsidiary of SMBC Americas Holdings, Inc., hit a milestone last week, reaching $1 billion in deposits for its high-yield savings product. Currently offering a market-leading rate of 5.25% APY1, the Jenius Savings product is designed to empower customers to take control of their financial future and achieve their financial goals with greater ease and flexibility. Jenius Bank's digital banking business launched in the summer of 2023 and has experienced growth across b
Jefferies Financial Group Inc. (NYSE:JEF) ("Jefferies") and SMBC Group announced today that they have expanded their global strategic alliance to enhance collaboration on future corporate and investment banking business opportunities within the Canadian market. SMBC Group comprises Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG"), Sumitomo Mitsui Banking Corporation ("SMBC"), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., and other group companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404149034/en/ In December 2023, Jefferies announced that it established full-service investment b
Sumitomo Mitsui Banking Corporation (SMBC) today announced the appointment of Mark Corteil as Chief Risk Officer for the Americas Division. In this role, Mark will serve on the Americas executive team and lead the firm in developing and maintaining a robust risk management framework, while embedding a strong culture of risk awareness and ownership across the Americas. "Mark has made a significant impact as a member of our risk management team and has consistently demonstrated a capacity for leadership," said Hirofumi Otsuka, Chief Executive Officer, SMBC Americas Division. "His deep knowledge of the space will help SMBC meet the demands of an evolving risk landscape as we continue to gr
Inaugural Partners Include American Camp Association, Change Summer, and Outward Bound The Sumitomo Mitsui Banking Corporation (SMBC) Global Foundation, part of SMBC Group, is helping increase access to outdoor-based programs that develop resiliency and enable younger generations to lead bright futures with the launch of SMBC Building Resilient Futures (BRF), announced today. The program will support organizations that enable young people with limited opportunities to access high-impact, outdoor-based experiences and educational programs. SMBC's pilot commitment will support an estimated 750 youths this year, in partnership with American Camp Association, Change Summer, and Outward Boun
Sumitomo Mitsui Banking Corporation (SMBC) Americas Division today announced the appointment of Clarke Adams as Head of High Yield Capital Markets and Matt Burke as Head of Leveraged Finance Origination. Additionally, Clarke joins Miguel Roman as Co-Head of Leveraged Capital Markets. Managing Directors based in New York, Clarke and Matt will continue to grow SMBC Americas' capabilities across the origination, underwriting, structuring, and distribution of leveraged loans and high yield bonds for corporate and financial sponsor issuers. "Clarke and Matt bring extensive relationships with a range of large-cap sponsors and corporations," said Hirofumi Otsuka, Chief Executive Officer, SMBC
Jefferies Financial Group, Inc. (NYSE:JEF) ("Jefferies") and Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG"), Sumitomo Mitsui Banking Corporation ("SMBC"), and other group companies (collectively, "SMBC Group") announced today that they have signed a memorandum of understanding to further expand their global strategic alliance to now include enhanced collaboration across Europe, the Middle East and Africa ("EMEA") on future corporate and investment banking business opportunities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240116830685/en/ In support of the initial strategic alliance in 2021, SMBC provided $2.25 bi
Name change honors storied past while setting vision for innovative growth Manufacturers Bank, a wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced today that it has changed its name to SMBC MANUBANK. The new name reflects the bank's strategic vision to transform and expand its commercial banking business, compete in the digital consumer bank space, and further align with SMBC Group. WHERE LOCAL EXPERTISE MEETS GLOBAL REACH AND DIGITAL INNOVATION "SMBC MANUBANK reinforces our commitment to invest and transform our business to be client-first, and meet our clients where they are, whether it is in person or online," said Kazuhisa Miyagawa, SMBC MA
Jefferies Financial Group, Inc. (NYSE:JEF) ("Jefferies") today announced the appointment of the Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) ("SMFG") President and Group Chief Executive Officer, Toru Nakashima, to Jefferies' Board of Directors effective August 12, 2024. The appointment of Mr. Nakashima further strengthens the strategic alliance between Jefferies and the SMBC Group first announced in 2021 and then further expanded in 2023 and 2024. Consistent with agreements between Jefferies and Sumitomo Mitsui Banking Corporation ("SMBC"), SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as-converted and fully diluted basis, and recently increased its
Sumitomo Mitsui Banking Corporation (SMBC) today announced the appointment of Mark Corteil as Chief Risk Officer for the Americas Division. In this role, Mark will serve on the Americas executive team and lead the firm in developing and maintaining a robust risk management framework, while embedding a strong culture of risk awareness and ownership across the Americas. "Mark has made a significant impact as a member of our risk management team and has consistently demonstrated a capacity for leadership," said Hirofumi Otsuka, Chief Executive Officer, SMBC Americas Division. "His deep knowledge of the space will help SMBC meet the demands of an evolving risk landscape as we continue to gr
Sumitomo Mitsui Banking Corporation (SMBC) Americas Division today announced the appointment of Clarke Adams as Head of High Yield Capital Markets and Matt Burke as Head of Leveraged Finance Origination. Additionally, Clarke joins Miguel Roman as Co-Head of Leveraged Capital Markets. Managing Directors based in New York, Clarke and Matt will continue to grow SMBC Americas' capabilities across the origination, underwriting, structuring, and distribution of leveraged loans and high yield bonds for corporate and financial sponsor issuers. "Clarke and Matt bring extensive relationships with a range of large-cap sponsors and corporations," said Hirofumi Otsuka, Chief Executive Officer, SMBC
Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced that it will be changing its name to SMBC MANUBANK as it expands into new markets and industries, and highlighting its decades-long affiliation with Sumitomo Mitsui Banking Corporation, a global leader in finance and innovation. Earlier this year, the bank launched Jenius Bank, a digital division catering to U.S. consumers nationwide that offers personal loans with plans to provide savings accounts and a mobile app in the coming months. "Manufacturers Bank has been a long-term contributor to the community, and the launch of its new consumer digital division, Jenius Bank, is one more way t
SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Marc Mansourian as Head of Derivatives Marketing as the bank further develops its Americas sales and trading business. Based in New York, Marc will lead a team that provides strategic rates and FX risk solutions for the bank's corporate, sponsor, and project finance clients, while working closely with SMBC's coverage and capital markets teams. Marc reports to Yunson Du, Senior Deputy President of SMBC Capital Markets, Inc. and Deputy Head of Americas Division Sales & Trading, who said: "We are excited to have Marc join SMBC and his arrival rounds out the key leadership of our macro business. He brings
SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Matthew Grinnell as Head of Global Sponsor Coverage as the firm continues to grow its Americas Division Corporate Investment Bank. Based in New York, Matt will work across the Americas Division and coordinate with global partners to leverage all of SMBC's capabilities to deliver consistent, high-quality solutions to the bank's top sponsor clients. "We are pleased to welcome Matt aboard as we strengthen our Global Sponsor Coverage team," said Rich Eisenberg, Co-Head of Coverage and Capital Markets. "This continues to be an exciting time of growth and opportunity at SMBC." SMBC established the Global
SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Gareth Hughes as Head of Trading. Gareth will be based in New York. In his new role, Gareth will lead SMBC's derivatives and macro rates trading business, focusing on improving the firm's trading capabilities to better meet the needs of a growing institutional client base. He will also partner with the SMBC Nikko Securities America, Inc. credit sales and trading team to align secondary market priorities and enhance SMBC's value to clients in the primary markets. Gareth reports to Yunson Du, Senior Deputy President of SMBC Capital Markets, Inc. and Deputy Head of Americas Division Sales & Trading, who
SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced the appointment of Steven Feinberg as Head of Credit for the Fixed Income Sales & Trading Group, based in New York. In his new role, Steven leads the U.S. Investment Grade, High-Yield, Emerging Markets, and Structured Products teams, overseeing the growth of the organization's sales and trading capabilities and strengthening of the product offering to SMBC's clients globally. He also works in partnership with the Capital Markets team to align secondary trading priorities and enhance SMBC's value to clients within its primary markets. Steven reports to Masahito Nonaka, Deputy President of SMBC Nikko Securities Ame
SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced that Raffi Dawson has joined the firm as Managing Director, Head of Structured Finance Group. In this new role, Raffi will be responsible for overseeing the securitization businesses, including conduit business, ABS and CLO. Raffi is based in New York, and reports to Scott Ashby, Head of Capital Markets and Investment Banking. "We are very excited to welcome Raffi to SMBC Nikko to lead our Structured Finance group," said Scott Ashby. "Raffi brings to the organization a wealth of experience to this role and will help support the sustained growth of our securitization business and further enhance and sharpen the exe
SMBC, a member of SMBC Group, announced today the appointment of Robin Milberg as Chief Human Resources Officer (CHRO) and Paul Sweeney as Head of Strategy & Transformation. Both report to the SMBC Group in the Americas Chief Operating Officer, Debbie Freer. "Our company is growing exponentially and having the best leadership is critical. Both Robin and Paul bring decades of experience to their new roles, having finely honed their skills within their respective areas of expertise," COO Freer said. "Our promise is that we will learn our client's unique business needs. This hands-on, relationship-based approach differentiates us, but is also predicated on a skilled and engaged workforce fol
Goldman downgraded Sumitomo Mitsui from Buy to Neutral
Nomura resumed coverage of Sumitomo Mitsui with a rating of Buy
BofA Securities upgraded Sumitomo Mitsui from Neutral to Buy
BofA Securities downgraded Sumitomo Mitsui from Buy to Neutral