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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NO. 333-228913) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED, EXCEPT FOR THE STATEMENTS REGARDING OUR EARNINGS FORECAST UNDER THE CAPTION “3.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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| Sumitomo Mitsui Financial Group, Inc. Consolidated Financial Results for the Six Months Ended September 30, 2020 <Under Japanese GAAP> | November 13, 2020
|
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.
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 | |||||||
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| ||||||
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) | ||||||
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Total assets | ¥ 219,863,518 | ¥ 225,757,919 | ||||||
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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 | ||||||
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Total liabilities | 209,078,615 | 214,458,248 | ||||||
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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) | ||||||
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Total stockholders’ equity | 9,354,296 | 9,448,109 | ||||||
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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) | ||||||
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Total accumulated other comprehensive income | 1,365,673 | 1,784,519 | ||||||
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Stock acquisition rights | 2,064 | 1,808 | ||||||
Non-controlling interests | 62,869 | 65,234 | ||||||
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Total net assets | 10,784,903 | 11,299,671 | ||||||
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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 | |||||||||||||||||||
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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 | (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 | ||||||||||||||||||||||||
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Net changes in the period | 521 | (47,062) | 196,698 | 2,112 | 152,269 | |||||||||||||||||||
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Balance at the end of the period | ¥ | 2,339,964 | ¥ | 691,985 | ¥ | 6,188,945 | ¥ | (14,189) | ¥ | 9,206,705 | ||||||||||||||
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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 | Total | ||||||||||||||||||
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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 | ||||||||||||||||||||||||
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) | ||||||||||||||||||
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Net changes in the period | (26,024) | 62,618 | (91) | (77,467) | 2,583 | (38,381) | ||||||||||||||||||
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Balance at the end of the period | ¥ | 1,662,827 | ¥ | 7,968 | ¥ | 36,456 | ¥ | (27,087) | ¥ | (4,661) | ¥ | 1,675,503 | ||||||||||||
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Millions of yen | ||||||||||||||||||||||||
Six months ended September 30, 2019 | Stock acquisition rights | Non- controlling interests | Total net assets | |||||||||||||||||||||
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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 | (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) | |||||||||||||||||||||
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Net changes in the period | (684) | (350,990) | (237,786) | |||||||||||||||||||||
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| |||||||||||||||||||
Balance at the end of the period | ¥ | 4,065 | ¥ | 327,550 | ¥ | 11,213,825 | ||||||||||||||||||
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- 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 | |||||||||||||||||||
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| ||||||||||||||||
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 | (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 | ||||||||||||||||||||||||
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Net changes in the period | 1,309 | 1,095 | 132,966 | 290 | 135,661 | |||||||||||||||||||
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Balance at the end of the period | ¥ | 2,341,274 | ¥ | 693,098 | ¥ | 6,427,428 | ¥ | (13,693) | ¥ | 9,448,109 | ||||||||||||||
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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 | Total | ||||||||||||||||||
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| ||||||||||||||
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 | ||||||||||||||||||||||||
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 | ||||||||||||||||||
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Net changes in the period | 358,565 | 23,346 | 177 | (54,706) | 91,461 | 418,845 | ||||||||||||||||||
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| |||||||||||||
Balance at the end of the period | ¥ | 1,729,972 | ¥ | 105,603 | ¥ | 37,056 | ¥ | (87,545) | ¥ | (568) | ¥ | 1,784,519 | ||||||||||||
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| |||||||||||||
Millions of yen | ||||||||||||||||||||||||
Six months ended September 30, 2020 | Stock acquisition rights | Non- controlling interests | Total net assets | |||||||||||||||||||||
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|
| ||||||||||||||||||||
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 | (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 | |||||||||||||||||||||
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| |||||||||||||||||||
Net changes in the period | (255) | 2,365 | 556,616 | |||||||||||||||||||||
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| |||||||||||||||||||
Balance at the end of the period | ¥ | 1,808 | ¥ | 65,234 | ¥ | 11,299,671 | ||||||||||||||||||
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- 6 -