6-K 1 d632223d6k.htm FORM 6-K Form 6-K

 

 

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 December 2023

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  ☒    or     Form 40-F  ☐ 

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NO. 333-273003) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.


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/ Jun Okahashi

 

Name:  Jun Okahashi

 

Title:    General Manager, Financial Accounting Dept.

Date:      December 25, 2023


Sumitomo Mitsui Financial Group, Inc.

Notice Regarding Submission of Interim Report on Form 6-K

to the U.S. Securities and Exchange Commission

TOKYO, December 25, 2023 --- Sumitomo Mitsui Financial Group, Inc. (the “Company,” President and Group Chief Executive Officer: Toru Nakashima) hereby announces that, on December 22, 2023 (Eastern Standard Time), the Company submitted an interim report on Form 6-K to the U.S. Securities and Exchange Commission (“SEC”).

A copy of the interim report on Form 6-K can be viewed and obtained at the Company’s website at https://www.smfg.co.jp/english/investor/financial/disclosure.html or on EDGAR, the SEC’s Electronic Data Gathering, Analysis, and Retrieval system.

Attachment:

  (Reference) Consolidated Financial Statements (IFRS) (Unaudited)

 

 

 

   

This document contains a summary of the Company’s consolidated interim financial information under International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board that was disclosed in its interim report on Form 6-K submitted to the U.S. Securities and Exchange Commission on December 22, 2023. This document does not contain all of the information in the interim report on Form 6-K that may be important to you. You should read the entire interim report on Form 6-K carefully to obtain a comprehensive understanding of the Company’s business and financial data under IFRS and related issues.

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 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.

   

 

– 1 –


  (Reference) Consolidated Financial Statements (IFRS) (Unaudited)

Consolidated Statements of Financial Position (Unaudited)

 

            (In millions)
     At March 31,     At September 30,  
      2023     2023  

  Assets:

    

Cash and deposits with banks

   ¥       76,465,511     ¥           78,237,000  

Call loans and bills bought

     5,684,812       6,088,010  

Reverse repurchase agreements and cash collateral on securities borrowed

     11,024,084       13,402,684  

Trading assets

     4,585,915       5,310,998  

Derivative financial instruments

     8,649,947       13,015,294  

Financial assets at fair value through profit or loss

     1,488,239       1,900,462  

Investment securities

     27,595,598       34,082,730  

Loans and advances

     111,891,134       116,285,384  

Investments in associates and joint ventures

     1,141,250       1,384,292  

Property, plant and equipment

     1,832,241       1,877,012  

Intangible assets

     905,028       973,871  

Other assets

     6,167,202       8,929,755  

Current tax assets

     190,267       71,559  

Deferred tax assets

     65,810       81,596  

Total assets

   ¥ 257,687,038     ¥ 281,640,647  

  Liabilities:

    

Deposits

   ¥ 172,927,810     ¥ 178,121,198  

Call money and bills sold

     2,569,056       2,161,558  

Repurchase agreements and cash collateral on securities lent

     17,786,026       23,604,811  

Trading liabilities

     3,291,089       4,187,152  

Derivative financial instruments

     10,496,855       15,298,715  

Financial liabilities designated at fair value through profit or loss

     414,106       421,392  

Borrowings

     15,371,801       16,060,190  

Debt securities in issue

     11,984,994       13,725,816  

Provisions

     247,344       225,396  

Other liabilities

     8,703,413       12,273,302  

Current tax liabilities

     41,649       46,800  

Deferred tax liabilities

     315,930       449,682  

Total liabilities

     244,150,073       266,576,012  

  Equity:

    

Capital stock

     2,342,537       2,344,038  

Capital surplus

     645,774       635,915  

Retained earnings

     7,199,479       7,563,151  

Treasury stock

     (151,799     (17,722

Equity excluding other reserves

     10,035,991       10,525,382  

Other reserves

     2,629,000       3,288,687  

Equity attributable to shareholders of Sumitomo Mitsui Financial Group, Inc.

     12,664,991       13,814,069  

Non-controlling interests

     106,172       123,871  

Equity attributable to other equity instruments holders

     765,802       1,126,695  

Total equity

     13,536,965       15,064,635  

Total equity and liabilities

   ¥ 257,687,038     ¥ 281,640,647  

 

– 2 –


Consolidated Income Statements (Unaudited)

(In millions, except per share data)

 

    

For the six months ended

September 30,

 
      2022     2023  

  Interest income

   ¥ 1,424,087     ¥ 2,776,392  

  Interest expense

     573,910       1,887,450  

  Net interest income

     850,177       888,942  

  Fee and commission income

     607,546       690,715  

  Fee and commission expense

     112,737       119,089  

  Net fee and commission income

     494,809       571,626  

  Net trading income

     565,037       487,524  

  Net income from financial assets and liabilities at fair value through profit or loss

     171,708       79,984  

  Net investment income (loss)

     (4,915     61,733  

  Other income

     85,818       57,734  

  Total operating income

               2,162,634                   2,147,543  

  Impairment charges on financial assets

     88,025       130,253  

  Net operating income

     2,074,609       2,017,290  

  General and administrative expenses

     948,612       1,072,003  

  Other expenses

     162,686       129,601  

  Operating expenses

     1,111,298       1,201,604  

  Share of post-tax profit of associates and joint ventures

     61,241       55,286  

  Profit before tax

     1,024,552       870,972  

  Income tax expense

     247,158       208,185  

  Net profit

   ¥ 777,394     ¥ 662,787  

  Profit attributable to:

    

Shareholders of Sumitomo Mitsui Financial Group, Inc.

   ¥ 762,185     ¥ 651,127  

Non-controlling interests

     9,603       5,891  

Other equity instruments holders

     5,606       5,769  

  Earnings per share:

    

Basic

   ¥ 555.91     ¥ 487.79  

Diluted

     555.72       487.65  

 

– 3 –


Consolidated Statements of Comprehensive Income (Unaudited)

 

      (In millions)
    

For the six months ended

September 30,

 
      2022     2023  

  Net profit

   ¥             777,394     ¥               662,787      

  Other comprehensive income:

    

Items that will not be reclassified to profit or loss:

    

Remeasurements of defined benefit plans:

    

Gains (losses) arising during the period, before tax

     15,329       (6,886)     

Equity instruments at fair value through other comprehensive income:

    

Gains (losses) arising during the period, before tax

     (219,566     760,840      

Own credit on financial liabilities designated at fair value through profit or loss:

    

Gains (losses) arising during the period, before tax

     1,035       (7,589)     

Share of other comprehensive income (loss) of associates and joint ventures

     12,073       1,790      

Income tax relating to items that will not be reclassified

     62,244       (223,425)     

Total items that will not be reclassified to profit or loss, net of tax

     (128,885     524,730      

Items that may be reclassified subsequently to profit or loss:

    

Debt instruments at fair value through other comprehensive income:

    

Gains (losses) arising during the period, before tax

     (652,810     (484,785)     

Reclassification adjustments for (gains) losses included in net profit, before tax

     157,216       45,420      

Exchange differences on translating foreign operations:

    

Gains (losses) arising during the period, before tax

     655,317       487,098      

Reclassification adjustments for (gains) losses included in net profit, before tax

     193       —        

Share of other comprehensive income (loss) of associates and joint ventures

     38,125       33,910      

Income tax relating to items that may be reclassified

     147,427       132,461      

Total items that may be reclassified subsequently to profit or loss, net of tax

     345,468       214,104      

  Other comprehensive income, net of tax

     216,583       738,834      

  Total comprehensive income

   ¥ 993,977     ¥ 1,401,621      

  Total comprehensive income attributable to:

    

Shareholders of Sumitomo Mitsui Financial Group, Inc.

   ¥ 976,191     ¥ 1,386,696      

Non-controlling interests

     12,180       9,156      

Other equity instruments holders

     5,606       5,769      

 

– 4 –