6-K 1 d114118d6k.htm FORM 6-K Form 6-K
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of November 2020

Commission File Number 001-34919

SUMITOMO MITSUI FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

   Form 20-F  ☒    Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

     

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

     

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

   Yes  ☐    No  ☒

*If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

   82-                   

 

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF SUMITOMO MITSUI FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-228913) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED, EXCEPT FOR THE STATEMENTS REGARDING OUR EARNINGS FORECAST UNDER THE CAPTION “3. EARNINGS FORECAST ON A CONSOLIDATED BASIS (FOR THE FISCAL YEAR ENDING MARCH 31, 2021).”


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Sumitomo Mitsui Financial Group, Inc.
By:    

  /s/ Masahiko Tsutsui

  Name:   Masahiko Tsutsui
  Title:   General Manager, Financial Accounting Dept.

Date:        November 13, 2020


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LOGO

 

Sumitomo Mitsui Financial Group, Inc.

Consolidated Financial Results for the Six Months Ended September 30, 2020

<Under Japanese GAAP>

 

November 13, 2020

 

LOGO

Head Office: 1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan

Stock Exchange Listings: Tokyo Stock Exchange, Nagoya Stock Exchange, New York Stock Exchange

URL: https://www.smfg.co.jp/english/

President: Jun Ohta

Quarterly Securities Report (Shihanki hokokusho) issuing date: November 27, 2020

Dividend payment date: December 3, 2020

Investors meeting presentation for quarterly financial results: Scheduled

Note: Amounts less than one million yen have been rounded down.

  1. Consolidated financial results (for the six months ended September 30, 2020)

   (1) Operating results

    (Millions of yen, except per share data and percentages)
     Ordinary income   Ordinary profit   Profit attributable to
owners of parent

Six months ended September 30, 2020

  ¥ 1,949,441       (17.0)%       ¥346,294        (38.0)%        ¥ 270,130        (37.5)%    
             

Six months ended September 30, 2019

  2,348,511       (4.3)          558,359        (17.9)           431,955        (8.6)       
  Notes:   1.   Comprehensive income:
    (a) for the six months ended September 30, 2020:  ¥690,749 million [ 70.3%]
    (b) for the six months ended September 30, 2019:  ¥405,581 million [(24.3)%]
  2.   Percentages shown in ordinary income, ordinary profit, profit attributable to owners of parent and comprehensive income are the increase (decrease) from the same period in the previous fiscal year.

 

                                                                                                              Earnings per share           Earnings per share    
      (Diluted)    
            

Six months ended September 30, 2020

  ¥ 197.17    ¥ 197.08    
     

Six months ended September 30, 2019

       312.84         312.64    

   (2) Financial position

    (Millions of yen, except percentages)
                                                                                                             Total assets            Net assets            Net Assets ratio

As of September 30, 2020

  ¥ 225,757,919     ¥ 11,299,671               5.0%        
     

As of March 31, 2020

     219,863,518          10,784,903                 4.9            
  Notes:   1.   Stockholders’ equity:
    (a) as of September 30, 2020: ¥11,232,628 million          (b) as of March 31, 2020: ¥10,719,969 million
  2.   Net assets ratio = {(Net assets – stock acquisition rights – non-controlling interests) / total assets} X 100

  2. Dividends on common stock

(Yen)

                                                                                                         Cash dividends per share
       1st quarter         2nd quarter         3rd quarter         4th quarter           Annual      

Fiscal year ended March 31, 2020

  ¥    —               ¥90.00              ¥    —             ¥ 100.00          ¥190.00       

 

Fiscal year ending March 31, 2021

 

 

—            

 

 

95.00           

           

Fiscal year ending March 31, 2021 (Forecast)

          —             95.00          190.00       
  Note:     Dividend forecast remains unchanged.

  3. Earnings forecast on a consolidated basis (for the fiscal year ending March 31, 2021)

(Millions of yen, except per share data and percentage)

                                                                                                          Profit attributable to owners of parent   Earnings per share

Fiscal year ending March 31, 2021

  ¥400,000   (43.2)%   ¥291.87
  Notes:   1.   Earnings forecast remains unchanged.
  2.   Percentage shown in profit attributable to owners of parent is the increase (decrease) from the previous fiscal year.
  3.   Forecasted earnings per share is calculated by dividing forecasted profit attributable to owners of parent by the number of issued common stocks (excluding treasury stocks) as of September 30, 2020.


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* Notes

 (1) There were no changes in material consolidated subsidiaries in the period.

 (2) Changes in accounting policies, changes in accounting estimates and restatements

      (a) Changes in accounting policies due to application of new or revised accounting standards

  

: Yes

  

      (b) Changes in accounting policies due to reasons other than above (a)

  

: Yes

  

      (c) Changes in accounting estimates

  

: No

  

      (d) Restatements

  

: No

  

      Note: For more details, see page 2 “1. Matters related to summary information (Notes).”

 (3) Number of shares issued (common stock)

 

           As of September 30, 2020                              As of March 31, 2020            

      (a) Number of shares issued (including treasury stocks)

     1,374,040,061 shares                 1,373,171,556 shares        

      (b) Number of treasury stocks

     3,570,796 shares                 3,645,043 shares        
     Six months ended September 30, 2020           Six months ended September 30, 2019  

      (c) Average number of shares issued in the period

     1,370,017,393 shares                 1,380,757,323 shares        

(Summary of financial information on a non-consolidated basis)

Non-consolidated financial results (for the six months ended September 30, 2020)

 

 (1) Operating results

  (Millions of yen, except per share data and percentages)    

 

                 Operating income                             Operating profit                            Ordinary profit                           Net income             
                 

Six months ended

                                                                                             
                 

  September 30, 2020

     ¥  165,121          (35.5)%        ¥  70,024          (56.7)%        ¥  65,399        (58.0)%        ¥  67,343          (57.7)%  
                 

  September 30, 2019

         255,818          7.7          161,698        5.2              155,724          3.6            159,337          3.2    
                       
      Earnings
per share
                      
   

Six months ended

                      
   

  September 30, 2020

     ¥    49.16                                  
   

  September 30, 2019

 

    

 

115.40              

 

 

 

                 
  Note:

Percentages shown in operating income, operating profit, ordinary profit and net income are the increase (decrease) from the same period in the previous year.

 

 (2) Financial position

 

  (Millions of yen, except percentages)  
     Total assets   Net assets   Net assets ratio 

As of September 30, 2020

  ¥  14,646,477                        ¥  5,899,262                             40.3%                         
     

As of March 31, 2020

  14,225,470                        5,966,267                             41.9                            
  Note:

Stockholders’ equity:

      

(a) as of September 30, 2020: ¥5,897,453 million     (b) as of March 31, 2020: ¥5,964,203 million

Note on interim audit procedures:

This report is out of the scope of the interim audit procedures.

 

This document contains “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995), regarding the intent, belief or current expectations of Sumitomo Mitsui Financial Group, Inc. (“the Company”) and its management with respect to the Company’s future financial condition and results of operations. In many cases but not all, these statements contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “risk,” “project,” “should,” “seek,” “target,” “will” and similar expressions. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those expressed in or implied by such forward-looking statements contained or deemed to be contained herein. The risks and uncertainties which may affect future performance include: deterioration of Japanese and global economic conditions and financial markets; declines in the value of the Company’s securities portfolio; incurrence of significant credit-related costs; the Company’s ability to successfully implement its business strategy through its subsidiaries, affiliates and alliance partners; and exposure to new risks as the Company expands the scope of its business. Given these and other risks and uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date of this document. The Company undertakes no obligation to update or revise any forward-looking statements. Please refer to the Company’s most recent disclosure documents such as its annual report on Form 20-F and other documents submitted to the U.S. Securities and Exchange Commission, as well as its earnings press releases, for a more detailed description of the risks and uncertainties that may affect its financial conditions, its operating results, and investors’ decisions.


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Sumitomo Mitsui Financial Group, Inc.

 

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1.

 

    Matters related to summary information (Notes)

     2  
                  (1)     Changes in accounting policies due to application of new or revised accounting standards    2  
                  (2)     Changes in accounting policies due to reasons other than above (1)    2  

2.

 

    Consolidated financial statements

     3  
                  (1)     Consolidated balance sheets    3  
                  (2)     Consolidated statements of income and consolidated statements of comprehensive income    4  
                  (3)     Consolidated statements of changes in net assets    5  
                  (4)     Note on going concern    7  

Appendix: Financial results for the six months ended September 30, 2020 supplementary information

 

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Sumitomo Mitsui Financial Group, Inc.

 

1. Matters related to summary information (Notes)

(1) Changes in accounting policies due to application of new or revised accounting standards

Accounting Standard etc. for Fair Value Measurement

The Company applies “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.30, July 4, 2019) and “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31, July 4, 2019) from the beginning of the period for the six months ended September 30, 2020.

Due to the application, the measurement of the fair value of stocks with market price (including foreign stocks, hereinafter the same) in other securities is changed from the fair value method based on their average prices during the final month of fiscal year to the fair value method based on their fiscal year-end market prices. Derivative transactions are carried at fair value reflecting one’s own credit risks and counterparty’s credit risks etc.

As for stocks with market price, in accordance with transitional treatment stipulated in Item 19 of “Accounting standards for fair value measurement” and Item 44-2 of “Accounting standard for financial instrument,” (ASBJ Statement No.10, July 4, 2019) the Company has applied new accounting policies since the beginning of the period for the six months ended September 30, 2020. As for fair value of derivative transactions, in accordance with transitional treatment stipulated in Item 20 of Accounting standards for fair value measurement, the cumulative effects are adjusted to “Retained earnings” of the beginning of the period for the six months ended September 30, 2020, in the case that the new accounting policy is retroactively applied previous to the beginning of the period for the six months ended September 30, 2020.

As a result, “Trading assets” decreased by ¥66,010 million, “Other assets” decreased by ¥29,768 million, “Deferred tax assets” increased by ¥2,306 million, “Trading liabilities” decreased by ¥21,557 million, “Other liabilities” decreased by ¥14,495 million, “Deferred tax liabilities” decreased by ¥15,570 million, and “Retained earnings” decreased by ¥41,849 million at the beginning of the period for the six months ended September 30, 2020.

(2) Changes in accounting policies due to reasons other than above (1)

Changes in Recognition of installment-sales-related income and installment-sales-related expenses

As for recognition of installment-sales-related income and installment-sales-related expenses, Sumitomo Mitsui Finance and Leasing Company, Limited (Hereinafter, “SMFL”), which conducts leasing business, had been applying a method for which installment-sales-related income and installment-sales-related expenses are recognized on a due-date basis over the full period of the installment sales in accordance with “Implementation Guidance on Accounting Standards for Leasing Transactions” (ASBJ Guidance No.16, March 25, 2011). However, from the beginning of the period for the six months ended September 30, 2020, the net amount, which is calculated by deducting installment-sales-related expenses from installment-sales-related income, is recorded as “Interest on deferred payment.”

The change is made to properly reflect the fund transaction under the financial type installment-sales transactions on the consolidated financial statements due to SMFL became an equity method affiliate and other reasons.

These changes in accounting policies are applied retroactively, and therefore the interim consolidated financial statements for the six months ended September 30, 2019 and the consolidated financial statements for the fiscal year ended March 31, 2020 reflect the retroactive application. As a result, comparing before and after the retroactive application, “Ordinary income”, “Ordinary expenses”, and “Other operating expenses” decreased by ¥359,162 million respectively, “Interest income” increased by ¥16,995 million, and “Other operating income” decreased by ¥376,157 million, and there are no effects on “Ordinary profit”, “Income before income taxes”, “Profit” and “Profit attributable to owners of parent” for the six months ended September 30, 2019. There is also no cumulative effect on “Net assets” at the beginning of the fiscal year ended March 31, 2020.

 

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Sumitomo Mitsui Financial Group, Inc.

 

2. Consolidated financial statements

    (1) Consolidated balance sheets

     Millions of yen  
       March 31, 2020        September 30, 2020  

 

    

 

 

 

Assets:

 

  

Cash and due from banks

      ¥        61,768,573           ¥        68,474,446    

Call loans and bills bought

     896,739          2,346,355    

Receivables under resale agreements

     8,753,816          3,982,086    

Receivables under securities borrowing transactions

     5,005,103          5,186,289    

Monetary claims bought

     4,559,429          4,097,203    

Trading assets

     7,361,253          6,649,870    

Money held in trust

     353          333    

Securities

     27,128,751          29,190,464    

Loans and bills discounted

     82,517,609          84,516,005    

Foreign exchanges

     2,063,284          2,097,207    

Lease receivables and investment assets

     219,733          226,046    

Other assets

     8,298,393          7,958,448    

Tangible fixed assets

     1,450,323          1,426,529    

Intangible fixed assets

     753,579          748,040    

Net defined benefit asset

     230,573          374,032    

Deferred tax assets

     26,314          28,265    

Customers’ liabilities for acceptances and guarantees

     9,308,882          9,020,388    

Reserve for possible loan losses

     (479,197)         (564,094)   
  

 

 

    

 

 

 

Total assets

      ¥      219,863,518           ¥      225,757,919    
  

 

 

    

 

 

 

Liabilities:

     

Deposits

      ¥      127,042,217           ¥      137,912,817    

Negotiable certificates of deposit

     10,180,435          10,237,691    

Call money and bills sold

     3,740,539          1,240,692    

Payables under repurchase agreements

     13,237,913          10,925,007    

Payables under securities lending transactions

     2,385,607          2,293,249    

Commercial paper

     1,409,249          1,895,452    

Trading liabilities

     6,084,528          5,465,919    

Borrowed money

     15,210,894          16,011,392    

Foreign exchanges

     1,461,308          1,003,624    

Short-term bonds

     379,000          727,000    

Bonds

     9,235,639          9,204,155    

Due to trust account

     1,811,355          1,967,293    

Other liabilities

     7,011,967          5,840,581    

Reserve for employee bonuses

     73,868          54,133    

Reserve for executive bonuses

     3,362          —     

Net defined benefit liability

     35,777          35,323    

Reserve for executive retirement benefits

     1,270          966    

Reserve for point service program

     26,576          26,382    

Reserve for reimbursement of deposits

     4,687          2,097    

Reserve for losses on interest repayment

     142,890          126,107    

Reserves under the special laws

     3,145          3,467    

Deferred tax liabilities

     257,384          434,457    

Deferred tax liabilities for land revaluation

     30,111          30,047    

Acceptances and guarantees

     9,308,882          9,020,388    
  

 

 

    

 

 

 

Total liabilities

     209,078,615          214,458,248    
  

 

 

    

 

 

 

Net assets:

     

Capital stock

     2,339,964          2,341,274    

Capital surplus

     692,003          693,098    

Retained earnings

     6,336,311          6,427,428    

Treasury stock

     (13,983)         (13,693)   
  

 

 

    

 

 

 

Total stockholders’ equity

     9,354,296          9,448,109    
  

 

 

    

 

 

 

Net unrealized gains (losses) on other securities

     1,371,407          1,729,972    

Net deferred gains (losses) on hedges

     82,257          105,603    

Land revaluation excess

     36,878          37,056    

Foreign currency translation adjustments

     (32,839)         (87,545)   

Accumulated remeasurements of defined benefit plans

     (92,030)         (568)   
  

 

 

    

 

 

 

Total accumulated other comprehensive income

     1,365,673          1,784,519    
  

 

 

 

Stock acquisition rights

     2,064          1,808    

Non-controlling interests

     62,869          65,234    
  

 

 

    

 

 

 

Total net assets

     10,784,903          11,299,671    
  

 

 

    

 

 

 

Total liabilities and net assets

      ¥      219,863,518           ¥      225,757,919    
  

 

 

    

 

 

 

 

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Sumitomo Mitsui Financial Group, Inc.

 

(2) Consolidated statements of income and consolidated statements of comprehensive income

    (Consolidated statements of income)

 

     Millions of yen  
Six months ended September 30    2019          2020  

Ordinary income

    ¥         2,348,511         ¥         1,949,441  

Interest income

     1,285,393          947,734  

Interest on loans and discounts

     884,363          699,690  

Interest and dividends on securities

     166,523          136,896  

Trust fees

     2,129          2,253  

Fees and commissions

     624,407          598,328  

Trading income

     120,456          139,797  

Other operating income

     182,318          180,705  

Other income

     133,805          80,622  

Ordinary expenses

     1,790,151          1,603,146  

Interest expenses

     639,380          315,673  

Interest on deposits

     245,911          89,975  

Fees and commissions payments

     104,837          99,807  

Trading losses

              462  

Other operating expenses

     87,283          75,502  

General and administrative expenses

     858,710          836,421  

Other expenses

     99,938          275,278  

Ordinary profit

     558,359          346,294  

Extraordinary gains

     22,815          407  

Extraordinary losses

     2,196          4,767  

Income before income taxes

     578,978          341,934  

Income taxes-current

     104,493          87,704  

Income taxes-deferred

     31,167          (16,322

Income taxes

     135,661          71,381  

Profit

     443,317          270,553  

Profit attributable to non-controlling interests

     11,361          422  

Profit attributable to owners of parent

    ¥ 431,955         ¥ 270,130  
                   
    (Consolidated statements of comprehensive income)        
     Millions of yen  
Six months ended September 30    2019          2020  

Profit

    ¥         443,317         ¥ 270,553  

Other comprehensive income

     (37,735        420,195  

Net unrealized gains (losses) on other securities

     (28,523        358,489  

Net deferred gains (losses) on hedges

     77,273          24,261  

Foreign currency translation adjustments

     (72,635        (52,920

Remeasurements of defined benefit plans

     2,015          91,672  

Share of other comprehensive income of affiliates

     (15,865        (1,307

Total comprehensive income

     405,581          690,749  

Comprehensive income attributable to owners of parent

     393,666          688,797  

Comprehensive income attributable to non-controlling interests

     11,915          1,951  

 

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Sumitomo Mitsui Financial Group, Inc.

 

(3) Consolidated statements of changes in net assets

 

    Millions of yen        
    Stockholders’ equity        
Six months ended September 30, 2019   Capital
stock
    Capital
surplus
    Retained
earnings
    Treasury
stock
    Total        

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Balance at the beginning of the period

  ¥ 2,339,443        ¥ 739,047        ¥ 5,992,247        ¥ (16,302)       ¥ 9,054,436      

Changes in the period

           

  Issuance of new stock

    521         521             1,043      

  Cash dividends

        (132,582)          (132,582)     

  Profit attributable to owners of parent

        431,955           431,955      

  Purchase of treasury stock

          (100,039)        (100,039)     

  Disposal of treasury stock

      (148)          478         330      

  Cancellation of treasury stock

      (101,673)          101,673         —      

  Changes in shareholders’ interest due to transaction with
non-controlling interests

      (47,584)            (47,584)     

  Decrease due to decrease in subsidiaries

        (945)          (945)     

  Reversal of land revaluation excess

        91           91      

  Transfer from retained earnings to capital surplus

      101,821         (101,821)          —      

  Net changes in items other than stockholders’ equity in the period

           
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Net changes in the period

    521         (47,062)        196,698         2,112         152,269      
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Balance at the end of the period

  ¥ 2,339,964        ¥ 691,985        ¥ 6,188,945        ¥       (14,189)       ¥   9,206,705      
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   
    Millions of yen  
    Accumulated other comprehensive income  
Six months ended September 30, 2019   Net unrealized
gains (losses)
on other
securities
    Net deferred
gains (losses)
on hedges
    Land
revaluation
excess
    Foreign
currency
translation
adjustments
   

Accumulated

remeasurements
of defined
benefit plans

    Total  

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at the beginning of the period

  ¥ 1,688,852        ¥ (54,650)       ¥ 36,547        ¥ 50,379        ¥ (7,244)       ¥ 1,713,884    

Changes in the period

           

  Issuance of new stock

           

  Cash dividends

           

  Profit attributable to owners of parent

           

  Purchase of treasury stock

           

  Disposal of treasury stock

           

  Cancellation of treasury stock

           

  Changes in shareholders’ interest due to transaction with
non-controlling interests

           

  Decrease due to decrease in subsidiaries

           

  Reversal of land revaluation excess

           

  Transfer from retained earnings to capital surplus

           

  Net changes in items other than stockholders’ equity in the period

    (26,024)        62,618         (91)        (77,467)        2,583         (38,381)   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net changes in the period

    (26,024)        62,618         (91)        (77,467)        2,583         (38,381)   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at the end of the period

   ¥ 1,662,827        ¥ 7,968        ¥ 36,456        ¥ (27,087)       ¥ (4,661)       ¥ 1,675,503    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
                                                                                                                                                                                               
    Millions of yen                    
Six months ended September 30, 2019   Stock
acquisition
rights
    Non-
controlling
interests
    Total
net assets
                   

 

   

 

 

   

 

 

       

Balance at the beginning of the period

   ¥ 4,750        ¥ 678,540         ¥ 11,451,611          

Changes in the period

           

  Issuance of new stock

        1,043          

  Cash dividends

        (132,582)         

  Profit attributable to owners of parent

        431,955          

  Purchase of treasury stock

        (100,039)         

  Disposal of treasury stock

        330          

  Cancellation of treasury stock

        —          

  Changes in shareholders’ interest due to transaction with
non-controlling interests

        (47,584)         

  Decrease due to decrease in subsidiaries

        (945)         

  Reversal of land revaluation excess

        91          

  Transfer from retained earnings to capital surplus

        —          

  Net changes in items other than stockholders’ equity in the period

    (684)        (350,990)         (390,056)         
 

 

 

   

 

 

   

 

 

       

Net changes in the period

    (684)        (350,990)         (237,786)         
 

 

 

   

 

 

   

 

 

       

Balance at the end of the period

   ¥ 4,065       ¥ 327,550        ¥       11,213,825          
 

 

 

   

 

 

   

 

 

       

 

- 5 -


Table of Contents

Sumitomo Mitsui Financial Group, Inc.

(Continued)

 

    Millions of yen        
    Stockholders’ equity        
Six months ended September 30, 2020   Capital
stock
    Capital
surplus
    Retained
earnings
    Treasury
stock
    Total        

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Balance at the beginning of the period

   ¥ 2,339,964        ¥ 692,003        ¥ 6,336,311        ¥ (13,983)       ¥ 9,354,296      

  Cumulative effects of changes in accounting policies

        (41,849)          (41,849)     

Restated balance

    2,339,964         692,003         6,294,462         (13,983)        9,312,447      

Changes in the period

           

  Issuance of new stock

    1,309         1,308             2,618      

  Cash dividends

        (136,952)          (136,952)     

  Profit attributable to owners of parent

        270,130           270,130      

  Purchase of treasury stock

          (21)        (21)     

  Disposal of treasury stock

      (50)          311         261      

  Changes in shareholders’ interest due to transaction with
non-controlling interests

      (213)            (213)     

  Reversal of land revaluation excess

        (161)          (161)     

  Transfer from retained earnings to capital surplus

      50         (50)          —      

  Net changes in items other than stockholders’ equity in the period

           
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Net changes in the period

    1,309         1,095         132,966         290         135,661      
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Balance at the end of the period

   ¥       2,341,274        ¥ 693,098        ¥ 6,427,428        ¥ (13,693)       ¥ 9,448,109      
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   
    Millions of yen  
    Accumulated other comprehensive income  
Six months ended September 30, 2020   Net unrealized
gains (losses)
on other
securities
    Net deferred
gains (losses)
on hedges
    Land
revaluation
excess
    Foreign
currency
translation
adjustments
   

Accumulated

remeasurements
of defined
benefit plans

    Total  

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at the beginning of the period

   ¥ 1,371,407        ¥ 82,257        ¥ 36,878        ¥ (32,839)       ¥ (92,030)       ¥ 1,365,673    

  Cumulative effects of changes in accounting policies

           

Restated balance

    1,371,407         82,257         36,878         (32,839)        (92,030)        1,365,673    

Changes in the period

           

  Issuance of new stock

           

  Cash dividends

           

  Profit attributable to owners of parent

           

  Purchase of treasury stock

           

  Disposal of treasury stock

           

  Changes in shareholders’ interest due to transaction with
non-controlling interests

           

  Reversal of land revaluation excess

           

  Transfer from retained earnings to capital surplus

           

  Net changes in items other than stockholders’ equity in the period

    358,565         23,346         177         (54,706)        91,461         418,845    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net changes in the period

    358,565         23,346         177         (54,706)        91,461         418,845    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at the end of the period

   ¥ 1,729,972        ¥ 105,603        ¥ 37,056        ¥ (87,545)       ¥ (568)       ¥ 1,784,519    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    Millions of yen                    
Six months ended September 30, 2020   Stock
acquisition
rights
    Non-
controlling
interests
    Total
net assets
                   

 

   

 

 

   

 

 

       

Balance at the beginning of the period

   ¥ 2,064        ¥ 62,869        ¥ 10,784,903          

  Cumulative effects of changes in accounting policies

        (41,849)         

Restated balance

    2,064         62,869         10,743,054          

Changes in the period

           

  Issuance of new stock

        2,618          

  Cash dividends

        (136,952)         

  Profit attributable to owners of parent

        270,130          

  Purchase of treasury stock

        (21)         

  Disposal of treasury stock

        261          

  Changes in shareholders’ interest due to transaction with
non-controlling interests

        (213)         

  Reversal of land revaluation excess

        (161)         

  Transfer from retained earnings to capital surplus

        —          

  Net changes in items other than stockholders’ equity in the period

    (255)        2,365         420,954          
 

 

 

   

 

 

   

 

 

       

Net changes in the period

    (255)        2,365         556,616          
 

 

 

   

 

 

   

 

 

       

Balance at the end of the period

   ¥ 1,808        ¥ 65,234        ¥ 11,299,671          
 

 

 

   

 

 

   

 

 

       
                                                                                                                                                                                               

 

- 6 -


Table of Contents

Sumitomo Mitsui Financial Group, Inc.

 

(4) Note on going concern

Not applicable.

 

- 7 -