Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Interactive Data Current | Yes |
Entity Registrant Name | SUMITOMO MITSUI FINANCIAL GROUP, INC. |
Entity Central Index Key | 0001022837 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 1,374,691,194 |
Entity Address, Country | JP |
ICFR Auditor Attestation Flag | true |
Document Registration Statement | false |
Entity Incorporation, State or Country Code | M0 |
Document Accounting Standard | International Financial Reporting Standards |
Entity File Number | 001-34919 |
Entity Address, Address Line One | 1-2, Marunouchi 1-chome |
Entity Address, Address Line Two | Chiyoda-ku |
Entity Address, City or Town | Tokyo |
Entity Address, Postal Zip Code | 100-0005 |
Auditor Name | KPMG AZSA LLC |
Auditor Firm ID | 1009 |
Auditor Location | Tokyo, Japan |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Country | JP |
Entity Address, Address Line One | 1-2, Marunouchi 1-chome |
Entity Address, Address Line Two | Chiyoda-ku |
Entity Address, City or Town | Tokyo |
Entity Address, Postal Zip Code | 100-0005 |
Contact Personnel Name | Jun Okahashi |
Contact Personnel Fax Number | 81-3-4333-9954 |
City Area Code | 81-3 |
Local Phone Number | 3282-8111 |
ADS [Member] | |
Document Information [Line Items] | |
Trading Symbol | SMFG |
Security 12(b) Title | American Depositary Shares |
Security Exchange Name | NYSE |
Ordinary shares [member] | |
Document Information [Line Items] | |
Security 12(b) Title | Common stock, without par value |
No Trading Symbol Flag | true |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Assets: | ||
Cash and deposits with banks | ¥ 76,465,511 | ¥ 75,697,521 |
Call loans and bills bought | 5,684,812 | 1,965,135 |
Reverse repurchase agreements and cash collateral on securities borrowed | 11,024,084 | 11,303,930 |
Trading assets | 4,585,915 | 3,736,296 |
Derivative financial instruments | 8,649,947 | 6,443,748 |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 |
Investment securities | 27,595,598 | 32,749,405 |
Loans and advances | 111,891,134 | 104,635,815 |
Investments in associates and joint ventures | 1,141,250 | 1,009,738 |
Property, plant and equipment | 1,832,241 | 1,762,996 |
Intangible assets | 905,028 | 992,849 |
Other assets | 6,167,202 | 6,063,907 |
Current tax assets | 190,267 | 44,941 |
Deferred tax assets | 65,810 | 58,981 |
Total assets | 257,687,038 | 248,160,847 |
Liabilities: | ||
Deposits | 172,927,810 | 162,593,492 |
Call money and bills sold | 2,569,056 | 1,130,000 |
Repurchase agreements and cash collateral on securities lent | 17,786,026 | 20,113,162 |
Trading liabilities | 3,291,089 | 3,181,992 |
Derivative financial instruments | 10,496,855 | 6,966,336 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
Borrowings | 15,371,801 | 20,584,651 |
Debt securities in issue | 11,984,994 | 11,428,437 |
Provisions | 247,344 | 227,784 |
Other liabilities | 8,703,413 | 8,386,774 |
Current tax liabilities | 41,649 | 51,513 |
Deferred tax liabilities | 315,930 | 259,280 |
Total liabilities | 244,150,073 | 235,379,155 |
Equity: | ||
Capital stock | 2,342,537 | 2,341,878 |
Capital surplus | 645,774 | 645,382 |
Retained earnings | 7,199,479 | 6,434,605 |
Treasury stock | (151,799) | (13,403) |
Equity excluding other reserves | 10,035,991 | 9,408,462 |
Other reserves | 2,629,000 | 2,546,294 |
Equity attributable to shareholders of Sumitomo Mitsui Financial Group, Inc. | 12,664,991 | 11,954,756 |
Non-controlling interests | 106,172 | 93,325 |
Equity attributable to other equity instruments holders | 765,802 | 733,611 |
Total equity | 13,536,965 | 12,781,692 |
Total equity and liabilities | ¥ 257,687,038 | ¥ 248,160,847 |
Consolidated Income Statements
Consolidated Income Statements - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Profit or loss [abstract] | |||
Interest income | ¥ 3,696,076 | ¥ 1,747,654 | ¥ 1,780,370 |
Interest expense | 1,941,006 | 303,716 | 397,245 |
Net interest income | 1,755,070 | 1,443,938 | 1,383,125 |
Fee and commission income | 1,262,734 | 1,248,225 | 1,174,382 |
Fee and commission expense | 222,920 | 209,762 | 201,723 |
Net fee and commission income | 1,039,814 | 1,038,463 | 972,659 |
Net trading income | 626,043 | 280,339 | 237,746 |
Net income from financial assets and liabilities at fair value through profit or loss | 173,311 | 200,249 | 280,012 |
Net investment income | 15,611 | 65,744 | 153,820 |
Other income | 180,827 | 108,727 | 138,223 |
Total operating income | 3,790,676 | 3,137,460 | 3,165,585 |
Impairment charges on financial assets | 148,464 | 279,978 | 282,486 |
Net operating income | 3,642,212 | 2,857,482 | 2,883,099 |
General and administrative expenses | 1,965,417 | 1,801,621 | 1,679,115 |
Other expenses | 502,347 | 368,559 | 283,879 |
Operating expenses | 2,467,764 | 2,170,180 | 1,962,994 |
Share of post-tax profit (loss) of associates and joint ventures | 87,428 | (10,838) | 36,373 |
Profit before tax | 1,261,876 | 676,464 | 956,478 |
Income tax expense | 326,027 | 161,389 | 251,402 |
Net profit | 935,849 | 515,075 | 705,076 |
Profit attributable to: | |||
Shareholders of Sumitomo Mitsui Financial Group, Inc. | 911,831 | 499,573 | 687,483 |
Non-controlling interests | 12,708 | 4,771 | 4,471 |
Other equity instruments holders | ¥ 11,310 | ¥ 10,731 | ¥ 13,122 |
Earnings per share: | |||
Basic | ¥ 668.12 | ¥ 364.46 | ¥ 501.73 |
Diluted | ¥ 667.89 | ¥ 364.31 | ¥ 501.49 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net profit | ¥ 935,849 | ¥ 515,075 | ¥ 705,076 |
Remeasurements of defined benefit plans: | |||
Gains (losses) arising during the period, before tax | 7,417 | 33,081 | 327,681 |
Equity instruments at fair value through other comprehensive income: | |||
Gains (losses) arising during the period, before tax | 77,223 | 102,183 | 1,183,628 |
Own credit on financial liabilities designated at fair value through profit or loss: | |||
Gains (losses) arising during the period, before tax | 12,847 | 5,729 | (4,981) |
Share of other comprehensive income (loss) of associates and joint ventures | (245) | 944 | 6,375 |
Income tax relating to items that will not be reclassified | (29,387) | (43,341) | (465,333) |
Total items that will not be reclassified to profit or loss, net of tax | 67,855 | 98,596 | 1,047,370 |
Debt instruments at fair value through other comprehensive income: | |||
Gains (losses) arising during the period, before tax | (341,532) | (512,814) | (186,656) |
Reclassification adjustments for (gains) losses included in net profit, before tax | 94,803 | 113,334 | (79,711) |
Exchange differences on translating foreign operations: | |||
Gains (losses) arising during the period, before tax | 304,252 | 404,292 | 86,842 |
Reclassification adjustments for (gains) losses included in net profit, before tax | 5,385 | 192 | 446 |
Share of other comprehensive income (loss) of associates and joint ventures | 30,660 | 30,891 | 2,960 |
Income tax relating to items that may be reclassified | 76,369 | 113,538 | 82,405 |
Total items that may be reclassified subsequently to profit or loss, net of tax | 169,937 | 149,433 | (93,714) |
Other comprehensive income, net of tax | 237,792 | 248,029 | 953,656 |
Total comprehensive income | 1,173,641 | 763,104 | 1,658,732 |
Total comprehensive income attributable to: | |||
Shareholders of Sumitomo Mitsui Financial Group, Inc. | 1,149,318 | 746,012 | 1,640,700 |
Non-controlling interests | 13,013 | 6,361 | 4,910 |
Other equity instruments holders | ¥ 11,310 | ¥ 10,731 | ¥ 13,122 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - JPY (¥) ¥ in Millions | Total | Capital stock [member] | Capital surplus [member] | Retained earnings [member] | Treasury stock [member] | Remeasurements of defined benefit plans [member] | Financial instruments measured at fair value through other comprehensive income ("FVOCI") [member] | Own credit on financial liabilities designated at fair value through profit or loss reserve [member] | Exchange differences on translating foreign operations [member] | Equity attributable to SMFG's shareholders [member] | Non-controlling interests [member] | Equity attributable to other equity instruments holders [member] |
At beginning of period at Mar. 31, 2020 | ¥ 10,934,878 | ¥ 2,339,965 | ¥ 728,551 | ¥ 5,609,854 | ¥ (13,984) | ¥ (2,553) | ¥ 1,500,013 | ¥ 28,260 | ¥ 10,190,106 | ¥ 60,296 | ¥ 684,476 | |
Comprehensive income: | ||||||||||||
Net profit | 705,076 | 687,483 | 687,483 | 4,471 | 13,122 | |||||||
Other comprehensive income | 953,656 | 228,376 | 642,910 | ¥ (3,455) | 85,386 | 953,217 | 439 | |||||
Total comprehensive income | 1,658,732 | 687,483 | 228,376 | 642,910 | (3,455) | 85,386 | 1,640,700 | 4,910 | 13,122 | |||
Issuance of shares under share-based payment transactions | 2,618 | 1,309 | 1,309 | 2,618 | ||||||||
Issuance of other equity instruments | 99,943 | 99,943 | ||||||||||
Acquisition and disposal of subsidiaries and businesses-net | 2,351 | 2,351 | ||||||||||
Transaction with non-controlling interest shareholders | 105 | (107) | (107) | 212 | ||||||||
Share of changes in capital surplus of associates and joint ventures | (5,921) | (5,921) | (5,921) | |||||||||
Dividends to shareholders | (268,389) | (267,144) | (267,144) | (1,245) | ||||||||
Coupons on other equity instruments | (13,122) | (13,122) | ||||||||||
Redemption of other equity instruments | (130,000) | (36) | (36) | (129,964) | ||||||||
Purchases of other equity instruments and sales of other equity instruments-net | (5,919) | (5,919) | ||||||||||
Purchases of treasury stock | (62) | (62) | (62) | |||||||||
Sales of treasury stock | 347 | 347 | 347 | |||||||||
Loss on sales of treasury stock | (65) | (65) | (65) | |||||||||
Share-based payment transactions | (1,201) | (1,201) | (1,201) | |||||||||
Transfer from other reserves to retained earnings | 48,080 | (11,412) | (36,668) | |||||||||
Others | 1,855 | 1,855 | ||||||||||
At end of period at Mar. 31, 2021 | 12,276,150 | 2,341,274 | 722,595 | 6,078,208 | (13,699) | 214,411 | 2,106,255 | (3,455) | 113,646 | 11,559,235 | 68,379 | 648,536 |
Comprehensive income: | ||||||||||||
Net profit | 515,075 | 499,573 | 499,573 | 4,771 | 10,731 | |||||||
Other comprehensive income | 248,029 | 23,996 | (208,128) | 3,975 | 426,596 | 246,439 | 1,590 | |||||
Total comprehensive income | 763,104 | 499,573 | 23,996 | (208,128) | 3,975 | 426,596 | 746,012 | 6,361 | 10,731 | |||
Issuance of shares under share-based payment transactions | 1,208 | 604 | 604 | 1,208 | ||||||||
Issuance of other equity instruments | 79,955 | 79,955 | ||||||||||
Acquisition and disposal of subsidiaries and businesses-net | 17,141 | 17,141 | ||||||||||
Transaction with non-controlling interest shareholders | (34) | (334) | (334) | 300 | ||||||||
Share of changes in capital surplus of associates and joint ventures | 5,097 | 5,097 | 5,097 | |||||||||
Dividends to shareholders | (274,756) | (274,127) | (274,127) | (629) | ||||||||
Coupons on other equity instruments | (10,731) | (10,731) | ||||||||||
Purchases of other equity instruments and sales of other equity instruments-net | 5,120 | 5,120 | ||||||||||
Purchases of treasury stock | (75) | (75) | (75) | |||||||||
Sales of treasury stock | 371 | 371 | 371 | |||||||||
Loss on sales of treasury stock | (50) | (50) | (50) | |||||||||
Share-based payment transactions | 87 | 87 | 87 | |||||||||
Transfer from other reserves to retained earnings | 131,002 | (41,097) | (89,905) | |||||||||
Put options written on non-controlling interests | (82,667) | (82,667) | (82,667) | |||||||||
Others | 1,772 | (1) | (1) | 1,773 | ||||||||
At end of period at Mar. 31, 2022 | 12,781,692 | 2,341,878 | 645,382 | 6,434,605 | (13,403) | 197,310 | 1,808,222 | 520 | 540,242 | 11,954,756 | 93,325 | 733,611 |
Comprehensive income: | ||||||||||||
Net profit | 935,849 | 911,831 | 911,831 | 12,708 | 11,310 | |||||||
Other comprehensive income | 237,792 | 5,153 | (121,127) | 8,913 | 344,548 | 237,487 | 305 | |||||
Total comprehensive income | 1,173,641 | 911,831 | 5,153 | (121,127) | 8,913 | 344,548 | 1,149,318 | 13,013 | 11,310 | |||
Issuance of shares under share-based payment transactions | 1,318 | 659 | 659 | 1,318 | ||||||||
Issuance of other equity instruments | 116,940 | 116,940 | ||||||||||
Acquisition and disposal of subsidiaries and businesses-net | 97 | 97 | ||||||||||
Transaction with non-controlling interest shareholders | 1,059 | (394) | (394) | 1,453 | ||||||||
Dividends to shareholders | (304,254) | (301,627) | (301,627) | (2,627) | ||||||||
Coupons on other equity instruments | (11,310) | (11,310) | ||||||||||
Redemption of other equity instruments | (85,000) | (34) | (34) | (84,966) | ||||||||
Purchases of other equity instruments and sales of other equity instruments-net | 217 | 217 | ||||||||||
Purchases of treasury stock | (138,840) | (138,840) | (138,840) | |||||||||
Sales of treasury stock | 444 | 444 | 444 | |||||||||
Loss on sales of treasury stock | (111) | (111) | (111) | |||||||||
Share-based payment transactions | 161 | 161 | 161 | |||||||||
Transfer from other reserves to retained earnings | 154,781 | (42,879) | (111,902) | |||||||||
Others | 911 | 911 | ||||||||||
At end of period at Mar. 31, 2023 | ¥ 13,536,965 | ¥ 2,342,537 | ¥ 645,774 | ¥ 7,199,479 | ¥ (151,799) | ¥ 159,584 | ¥ 1,575,193 | ¥ 9,433 | ¥ 884,790 | ¥ 12,664,991 | ¥ 106,172 | ¥ 765,802 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Operating Activities: | |||
Profit before tax | ¥ 1,261,876 | ¥ 676,464 | ¥ 956,478 |
Adjustments for: | |||
(Gains) losses on financial assets at fair value through profit or loss and investment securities | 21,963 | (69,521) | (321,635) |
Foreign exchange gains | (684,581) | (666,606) | (567,088) |
Provision for loan losses | 138,176 | 269,060 | 277,085 |
Depreciation and amortization | 322,337 | 321,205 | 310,100 |
Share of post-tax (profit) loss of associates and joint ventures | (87,428) | 10,838 | (36,373) |
Net changes in assets and liabilities: | |||
Net (increase) decrease of term deposits with original maturities over three months | 951,419 | 733,091 | (198,423) |
Net (increase) decrease of call loans and bills bought | (3,673,298) | 713,266 | (1,575,396) |
Net decrease of reverse repurchase agreements and cash collateral on securities borrowed | 568,865 | 696,588 | 1,913,956 |
Net increase of loans and advances | (6,895,665) | (6,144,509) | (3,074,515) |
Net change of trading assets and liabilities, derivative financial instruments, and financial liabilities designated at fair value through profit or loss | 1,018,634 | 1,646,826 | 424,587 |
Net increase of deposits | 9,574,826 | 6,097,718 | 16,707,952 |
Net increase (decrease) of call money and bills sold | 1,433,307 | (267,746) | (2,395,948) |
Net increase (decrease) of repurchase agreements and cash collateral on securities lent | (2,583,712) | 1,376,865 | 3,143,567 |
Net increase (decrease) of other unsubordinated borrowings and debt securities in issue | (5,286,295) | 886,167 | 2,832,020 |
Income taxes paid—net | (386,659) | (268,730) | (135,708) |
Other operating activities—net | (933,671) | (909,783) | 61,700 |
Net cash and cash equivalents provided by (used in) operating activities | (5,239,906) | 5,101,193 | 18,322,359 |
Investing Activities: | |||
Purchases of financial assets at fair value through profit or loss and investment securities | (30,516,914) | (34,468,950) | (40,140,112) |
Proceeds from sales of financial assets at fair value through profit or loss and investment securities | 17,653,233 | 18,191,505 | 16,994,681 |
Proceeds from maturities of financial assets at fair value through profit or loss and investment securities | 18,975,571 | 14,236,933 | 15,692,233 |
Acquisitions of the subsidiaries and businesses, net of cash and cash equivalents acquired | (215,694) | (3,570) | |
Investments in associates and joint ventures | (57,464) | (134,183) | (57,681) |
Proceeds from sales of investments in associates and joint ventures | 23,211 | 2,922 | 362 |
Purchases of property, plant and equipment | (87,989) | (81,367) | (111,642) |
Purchases of intangible assets | (199,122) | (194,836) | (178,281) |
Proceeds from sales of property, plant and equipment, investment properties and intangible assets | 8,740 | 280 | 23,147 |
Other investing activities—net | (2) | (1) | 1 |
Net cash and cash equivalents provided by (used in) investing activities | 5,799,264 | (2,663,391) | (7,780,862) |
Financing Activities: | |||
Redemption of subordinated borrowings | (48,000) | (15,000) | |
Proceeds from issuance of subordinated bonds | 99,984 | 95,533 | 90,135 |
Redemption of subordinated bonds | (382,600) | (361,820) | |
Payments for the principal portion of lease liabilities | (90,601) | (95,816) | (95,586) |
Proceeds from issuance of other equity instruments | 116,940 | 79,955 | 99,943 |
Redemption of other equity instruments | (85,000) | (130,000) | |
Dividends paid to shareholders of Sumitomo Mitsui Financial Group, Inc. | (301,600) | (274,058) | (267,119) |
Dividends paid to non-controlling interest shareholders | (2,627) | (629) | (1,245) |
Coupons paid to other equity instruments holders | (11,310) | (10,731) | (13,122) |
Purchases of treasury stock and proceeds from sales of treasury stock—net | (138,507) | 246 | 220 |
Purchases of other equity instruments and proceeds from sales of other equity instruments—net | 217 | 5,120 | (5,919) |
Transactions with non-controlling interest shareholders—net | 956 | 119 | 100 |
Net cash and cash equivalents used in financing activities | (459,548) | (597,861) | (684,413) |
Effect of exchange rate changes on cash and cash equivalents | 900,472 | 955,315 | 488,072 |
Net increase of cash and cash equivalents | 1,000,282 | 2,795,256 | 10,345,156 |
Cash and cash equivalents at beginning of period | 74,343,953 | 71,548,697 | 61,203,541 |
Cash and cash equivalents at end of period | 75,344,235 | 74,343,953 | 71,548,697 |
Net cash and cash equivalents provided by operating activities includes: | |||
Interest and dividends received | 3,639,559 | 1,943,386 | 1,955,515 |
Interest paid | ¥ 1,793,559 | ¥ 300,683 | ¥ 435,205 |
General Information
General Information | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
General Information | 1 GENERAL INFORMATION Sumitomo Mitsui Financial Group, Inc. (the “Company” or “SMFG”) was established on December 2, 2002, as a holding company for Sumitomo Mitsui Banking Corporation (“SMBC”) and its subsidiaries through a statutory share transfer ( kabushiki-iten Kabushiki Kaisha The Company and its subsidiaries (the “Group”) offer a diverse range of financial services, including commercial banking, leasing, securities, consumer finance and other services together with its associates and joint ventures. The accompanying consolidated financial statements have been authorized for issue by the Management Committee on June 28, 2023. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Significant Accounting Policies | 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all the fiscal years presented, unless otherwise stated. Basis of Preparation Compliance with International Financial Reporting Standards The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of measurement The consolidated financial statements have been prepared under the historical cost basis except for the following: • trading assets and liabilities are measured at fair value; • derivative financial instruments are measured at fair value; • financial assets and liabilities at fair value through profit or loss are measured at fair value; • investment securities at fair value through other comprehensive income are measured at fair value; and • liabilities and the assets recognized in consolidated statements of financial position in respect of defined benefit plans are the present value of the defined benefit obligation less the fair value of plan assets. Functional and presentation currency The consolidated financial statements are presented in Japanese yen, which is also the Company’s functional currency. All financial information presented in Japanese yen has been rounded to the nearest million, except as otherwise indicated. Critical accounting estimates and judgments The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the accounting policies. Actual results may differ from these estimates. The notes to the consolidated financial statements set out areas involving a higher degree of judgment or complexity, or areas where assumptions are significant to the consolidated financial statements, such as allowance for loan losses (Notes 10 and 33), fair value of financial instruments (Note 44), impairment of property, plant and equipment (Note 12), impairment of intangible assets (Note 14), provision for interest repayment (Note 21), retirement benefits (Note 24) and deferred tax assets (Note 23). Refer to Note 3 “Critical Accounting Estimates and Judgments” for further information. New and Amended Accounting Standards Adopted by the Group During the fiscal year ended March 31, 2023, a number of amendments to standards have become effective; however, they have not resulted in any material changes to the Group’s accounting policies, except as described below. International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12) In May 2023, the IASB issued amendments to IAS 12 “Income Taxes” to give entities temporary mandatory relief from accounting for deferred taxes arising from the Organization for Economic Co-operation and Development’s (“OECD”) international tax reform. The amendments are effective immediately upon their issue and retrospectively in accordance with IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors,” except for some targeted disclosure requirements which become effective for annual reporting periods beginning on or after January 1, 2023. The Group has applied the temporary exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. Consolidation Subsidiaries Subsidiaries are all entities controlled by the Group. The Group controls an entity when it is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The Group considers all facts and circumstances whether it controls an entity. Where the relevant activities are directed through voting or similar rights, the Group considers that it controls an entity if it has the existing rights that give it the current ability to direct the operating and financing policies of the entity, in general by having a shareholding of more than 50% of the voting rights. The existence and effect of potential voting rights that are deemed to be substantive are taken into account when assessing whether the Group controls another entity. Where the voting rights are not the dominant factor in deciding who controls the entity, the assessment of control is more complex and requires greater use of judgment. The Group assesses whether it controls an entity considering all facts and circumstances, such as the purpose and design of the entity, the relevant activities and how to make decisions about those activities. The Group also determines whether it is acting as an agent or a principal in assessing whether it has control of another entity. An agent is a party primarily engaged to act on behalf and for the benefit of another party or parties and therefore does not control the entity. To make such judgments, the Group considers the overall relationship, especially all of the following factors: the scope of its decision-making authority over the entity, the rights held by other parties, the remuneration to which it is entitled in accordance with the remuneration agreement, and its exposure to variability of returns from other interests that it holds in the entity. The Group reassesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the elements of control. Subsidiaries are fully consolidated from the date on which the Group obtains control. They are deconsolidated from the date on which the Group loses control. The acquisition method is used to account for the business combinations including the acquisition of subsidiaries by the Group. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred, the liabilities incurred and the equity interests issued. Identifiable assets acquired and liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group’s previously held equity interest in the acquiree is remeasured at fair value at the acquisition date and any gain or loss is recognized in profit or loss. For each business combination, the Group measures any non-controlling non-controlling non-controlling non-controlling Inter-company transactions, balances and unrealized gains on transactions between the Group companies are eliminated on consolidation. Unrealized losses are also eliminated unless the transaction provides evidence of impairment of the asset transferred. The accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the accounting policies adopted by the Group. Non-controlling Changes in the Group’s ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. Interests in the equity of subsidiaries not attributable to the Group are reported in the consolidated statements of financial position as a separate component of equity as non-controlling non-controlling Associates and joint ventures An associate is an entity over which the Group has significant influence, but does not control the financial and operating policy decisions of the entity. Significant influence is generally presumed to exist when the Group holds 20% or more, but less than 50%, of the voting rights. Entities that are jointly controlled by more than one party, including the Group, may be determined to be a joint venture. The Group accounts for investments in associates and joint ventures using the equity method from the date on which they become associates or joint ventures. The Group discontinues the use of the equity method from the date on which the Group ceases to have significant influence or joint control over the investees. Under the equity method, the Group’s investments in associates and joint ventures are initially recognized at cost. The carrying amount of the investments are subsequently increased or decreased to recognize the Group’s share of the post-acquisition profit or loss of the associate or joint venture and other movements included directly in the equity of the associate or joint venture. The Group’s share of the results of associates and joint ventures is based on the financial statements of its associates and joint ventures, adjusted to conform with the accounting policies of the Group. Profits on transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in the associates or joint ventures. Losses are also eliminated to the extent of the Group’s interest in the associates or joint ventures unless the transaction provides evidence of impairment in the asset transferred. The carrying amounts of the investments in associates and joint ventures include goodwill (net of any accumulated impairment loss) arising on the acquisition of the interests in the entities. Because goodwill arising on the acquisition of the interest in an associate or joint venture is not separately recognized, it is not tested for impairment separately. Instead, the entire carrying amount of the investment in an associate or joint venture is tested for impairment as a single asset by comparing its recoverable amount, which is the higher of value in use and fair value less costs to sell, with its carrying amount, whenever there is any objective evidence that the investment is impaired. An impairment loss recognized in prior periods for the investment is reversed only if there has been a change in the estimates used to determine the recoverable amount of the investment since the last impairment loss was recognized. If this is the case, the carrying amount of the investment is increased to its recoverable amount. That increase is a reversal of an impairment loss. When the Group’s share of losses in an associate or joint venture exceeds the Group’s carrying amount of the investment, the Group does not recognize further losses, unless it has a binding obligation or has made payments on behalf of the entity. Segment Reporting The Group determines its operating segments based on the management approach, which requires operating segments to be identified on the basis of internal reports about components of the entity that are regularly reviewed by management, in order to allocate resources to a segment and to assess its performance. Foreign Currency Translation Items included in the financial statements of each of the Group companies are measured using the currency of the primary economic environment in which the company operates (“the functional currency”). The consolidated financial statements are presented in Japanese yen, which is also the Company’s functional currency. Transactions and balances Foreign currency transactions that are denominated or settled in a foreign currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary items denominated in foreign currencies are translated using the exchange rate at the end of the reporting period. Foreign exchange gains and losses resulting from the retranslation and settlement of monetary items are recognized in the consolidated income statements. Non-monetary Non-monetary Foreign operations The assets and liabilities of foreign operations are translated into the presentation currency of the Group using the exchange rate at the end of the reporting period, and their income statements are translated using the exchange The exchange differences arising on the translation of a foreign operation are included in other comprehensive income within equity and subsequently included in profit or loss on the disposal or partial disposal of the operation. Financial Assets Regular way purchases and sales of financial assets are recognized and derecognized IFRS 9 “Financial Instruments” requires all financial assets, including entire hybrid instruments, to be classified into three measurement categories, namely, amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit or loss (“FVPL”), based on the business model within which they are held and their contractual cash flow characteristics. The Group has assessed the business models based on facts and circumstances at a portfolio level. Factors that are considered in determining the business model include policies and objectives for the relevant portfolio, how the performance and risks of the portfolio are managed, evaluated and reported to management, and the level of sales activity. The Group has assessed the contractual cash flow characteristics of financial assets with reference to whether the contractual cash flows are solely payments of principal and interest (“SPPI”). Principal is defined as the fair value of the financial asset at initial recognition but it may change over the life of the financial asset as amounts are repaid. Interest is defined as consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks such as liquidity risk and costs such as administrative costs associated with holding the financial asset for a particular period of time, as well as a profit margin. In assessing whether the contractual cash flows meet the conditions for SPPI, the Group considers the contractual terms of the financial asset. This includes assessing whether the financial asset contains a contractual term that could change the contractual cash flows so that it would not meet the conditions for SPPI, including leverage features, contingent events that would change the amount or timing of cash flows, contractual terms that limit the Group’s claim to cash flows from specified assets, and features that modify consideration of the time value of money. Financial assets measured at amortized cost Financial assets are measured at amortized cost if they are held within a business model whose objective is to hold the assets in order to collect contractual cash flows, and their contractual cash flows are SPPI. These financial assets are mainly included in “Loans and advances” and also in “Investment securities” in the consolidated statements of financial position. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets, and are subsequently measured at amortized cost using the effective interest method. Interest income on these financial assets using the effective interest method is recognized in “Net interest income” in the consolidated income statements. Financial assets measured at fair value through other comprehensive income Financial assets are measured at FVOCI if they are held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and their contractual cash flows are SPPI. Financial assets measured at FVOCI are included in “Investment securities” in the consolidated statements of financial position. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets, and are subsequently measured at fair value. Gains and losses arising from changes in the fair value of these financial assets are recognized in other comprehensive income, until they are derecognized. At the time of derecognition, the cumulative gains or losses previously recognized in other comprehensive income are reclassified to profit or loss and are recognized in “Net investment income” in the consolidated income statements. Interest income calculated using the effective interest method, foreign currency gains and losses, and impairment gains and losses are recognized in “Net interest income,” “Net trading income” and “Impairment charges on financial assets” in the consolidated income statements, respectively. In addition, the Group makes an irrevocable election at initial recognition, for particular non-trading Financial assets measured at fair value through profit or loss Any financial assets that do not meet the criteria of amortized cost or FVOCI are classified as FVPL, unless the Group makes an irrevocable election for non-trading Financial assets are classified as held for trading and are included in “Trading assets” in the consolidated statements of financial position, if they are acquired principally for the purpose of selling in the near term or if they are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Derivatives which are not designated as hedging instruments are classified as held for trading, and all derivatives are included in “Derivative financial instruments” in the consolidated statements of financial position. All derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Financial assets mandatorily measured at FVPL, other than those held for trading and derivatives, are included in “Financial assets at fair value through profit or loss” in the consolidated statements of financial position. The financial assets mentioned above are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. Gains and losses arising from changes in the fair values of trading assets and derivatives held for trading, and interest and dividend income on trading assets are included in “Net trading income” in the consolidated income statements. Gains or losses arising from financial assets mandatorily measured at FVPL are included in “Net income from financial assets and liabilities at fair value through profit or loss” in the consolidated income statements. Additionally, financial assets measured at amortized cost or FVOCI can be designated at initial recognition to be measured at FVPL in order to eliminate or significantly reduce a measurement or recognition inconsistency. The Group does not make this designation. Financial Liabilities Financial liabilities measured at amortized cost Financial liabilities, except for financial liabilities measured at FVPL, are mainly included in “Deposits,” “Borrowings,” and “Debt securities in issue” in the consolidated statements of financial position. They are initially recognized at fair value, net of transaction costs that are directly attributable to the issue of the financial liabilities, and are subsequently measured at amortized cost using the effective interest method. Interest expense on these financial liabilities measured at amortized cost using the effective interest method is recognized in “Net interest income” in the consolidated income statements. Financial liabilities measured at fair value through profit or loss Financial liabilities measured at FVPL consist of financial liabilities held for trading, derivatives whose fair values are negative and financial liabilities designated at FVPL. Financial liabilities are classified as held for trading if they are incurred principally for the purpose of repurchasing in the near term or if they are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Financial liabilities held for trading are included in “Trading liabilities” in the consolidated statements of financial position. Trading liabilities are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. Gains and losses arising from changes in the fair values of trading liabilities and interest expense on trading liabilities are included in “Net trading income” in the consolidated income statements. For derivatives other than the component of hybrid instrument, refer to “Financial assets measured at fair value through profit or loss.” The derivative component of a hybrid instrument containing both a derivative and non-derivative The Group applies a fair value option to certain financial liabilities which were issued by the Group’s securities subsidiary. As part of risk management, the Group enters into derivative transactions to offset the profit or loss of financial liabilities containing embedded derivatives, designated at FVPL under the fair value option. The Group can make an irrevocable election for each individual financial liability at initial recognition to designate it as measured at FVPL, if it meets one of the following criteria: • The designation eliminates or significantly reduces a measurement or recognition inconsistency (referred to as “an accounting mismatch”) that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases; • A group of financial liabilities or financial assets and financial liabilities is managed, and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the board of directors; or • The financial liability contains one or more embedded derivatives which significantly modify the cash flows and it is not clear with no analysis that separation is prohibited. The financial liabilities designated at FVPL are presented as “Financial liabilities designated at fair value through profit or loss” in the consolidated statements of financial position. Those liabilities are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. The amount of changes in their fair values that is attributable to changes in own credit risk of the liabilities is recognized in other comprehensive income and subsequently not transferred to profit or loss. The amount of changes in their fair values except for the effects of changes in their own credit risk, gains or losses on derecognition and interest expense are included in “Net income from financial assets and liabilities at fair value through profit or loss” in the consolidated income statements. Financial liabilities are derecognized when they have been redeemed or otherwise extinguished. Hedge Accounting The Group applies fair value hedge accounting and hedge accounting of net investments in foreign operations, in order to reflect the effect of risk management activities on its consolidated financial statements. Fair value hedges The Group applies fair value hedge accounting in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the risk of changes in the fair value of certain fixed rate financial assets and liabilities. The Group designates certain interest rate derivatives as hedging instruments. Changes in fair values of hedging instruments are recognized in the consolidated income statements, together with changes in fair value of the hedged item attributable to the hedged risk. The hedging gain or loss on the hedged item held at amortized cost adjusts the carrying amount of the hedged item, and is recognized in “Net trading income” in the consolidated income statements. If the hedged item is a financial asset measured at FVOCI, the hedging gain or loss on the hedged item is recognized in “Net trading income” in the consolidated income statements. If the hedge no longer meets the criteria for hedge accounting for reasons other than the derecognition of the hedged item, the adjustment to the hedged item for which the effective interest method is used, is amortized to profit or loss over the period to maturity of the hedged item. When the hedged item is derecognized, the adjustment is recognized immediately in the consolidated income statements. The Group also applies fair value hedge accounting in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the risk of changes in fair values of certain equity instruments elected to be measured at FVOCI. The Group designates equity derivatives as hedging instruments. Both the effective portion and ineffective portion of changes in the fair value of the hedging instruments are recognized in other comprehensive income, and amounts presented in other comprehensive income are not subsequently transferred to profit or loss. Hedges of net investments in foreign operations The Group applies hedge accounting of net investments in foreign operations in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the foreign currency risk of exchange differences arising from the translation of net investments in foreign operations. The Group designates currency derivatives and foreign currency denominated financial liabilities as hedging instruments. The effective portion of the gain or loss on the hedging instruments is recognized in other comprehensive income, whereas the ineffective portion of the gain or loss on the hedging instruments is recognized in “Net trading income” in the consolidated income statements. The cumulative gain or loss recognized in other comprehensive income is reclassified to profit or loss on the disposal or partial disposal of foreign operations. For further information about hedge accounting, see Note 7 “Derivative Financial Instruments and Hedge Accounting—Hedge accounting.” Interest Rate Benchmark Reform The Group applies “Interest Rate Benchmark Reform, Amendments to IFRS 9, IAS 39 and IFRS 7.” The amendments provide reliefs from applying specific hedge accounting requirements to hedging relationships directly affected by the interest rate benchmark reform only if the reform gives rise to uncertainties. The reliefs aim to ensure that the interest rate benchmark reform does not result in the discontinuance of hedge accounting. In accordance with the transition provisions, the amendments have been adopted retrospectively to hedging relationships that existed at the beginning of the reporting period or were designated thereafter. The reliefs adopted by the Group are described below. • Prospective assessments The Group has assumed that the interest rate benchmarks on which the hedged risk or the cash flows of the hedging instrument is based are not altered as a result of the interest rate benchmark reform in assessing whether there is an economic relationship between the hedged item and the hedging instrument. • Hedge of a non-contractually The Group has assessed whether a non-contractually The Group also applies “Interest Rate Benchmark Reform—Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16.” The amendments supplement the amendments to IFRS 9, IAS 39 “Financial Instruments: Recognition and Measurement” and IFRS 7 “Financial Instruments: Disclosures” issued in 2019 and focus on the effects on entities’ financial statements when entities replace the previous interest rate benchmark with an alternative interest rate benchmark as a result of the reform. The amendments provide a practical expedient for modifications of financial assets and financial liabilities required as a direct consequence of the reform and made on an economically equivalent basis. They also provide a temporary exception to specific hedge accounting requirements, and provide a relief when changes are made to hedge relationships as a result of the interest rate benchmark reform. The relief adopted by the Group is described below. • Hedge relationship The Group has assumed that changes to the hedge designation and hedge documentation due to the interest rate benchmark reform would not constitute the discontinuation of the hedge relationship nor the designation of a new hedging relationship. Offsetting Financial Instruments Financial assets and liabilities are offset and the net amount is reported in the consolidated statements of financial position, only if the Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis or to realize the asset and settle the liability simultaneously. In all other situations, they are presented on a gross basis. Fair Value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value, the Group gives the highest priority to a quoted price in an active market for identical assets or liabilities. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no active market for the asset or liability, the Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure the fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. In cases where the Group manages a group of financial assets and financial liabilities on the basis of its net credit risk exposure, the fair value of the group of financial assets and financial liabilities is measured on the basis of the price that would be received to sell a net long position (i.e., an asset) or paid to transfer a net short position (i.e., a liability) for the credit risk exposure provided that certain criteria set forth in IFRS 13 “Fair Value Measurement” are met. Details of fair value measurement are described in Note 44 “Fair Value of Financial Assets and Liabilities.” Recognition of Deferred Day One Profit and Loss The best evidence of the fair value of a financial instrument at initial recognition is normally the transaction price (i.e., the fair value of the consideration given or received). However, if the fair value at initial recognition is not evidenced by a quoted price in an active market for an identical asset or liability nor based on a valuation technique that uses only data from observable markets, the difference between the fair value at initial recognition and the transaction price, commonly referred to as “day one profit and loss,” is not recognized as a gain or loss but is adjusted to be deferred. The Group has certain financial instruments, such as derivatives, hybrid financial instruments and certain loans and advances classified as FVPL where fair value is determined using valuation techniques for which not all inputs are observable in a market. Such a financial instrument is initially recognized at the transaction price which may be different from the fair value, and the day one profit and loss is not recognized as a gain or loss. The timing of recognition of the deferred day one profit and loss is determined on an instrument by instrument basis. It is either amortized over the life of the transaction, deferred until fair value of the instrument can be determined using data from observable markets, or realized due to redemption or sales of the instrument. Repurchase and Reverse Repurchase Agreements, and Securities Borrowing and Lending Agreements In the ordinary course of business, the Group lends or sells securities under agreements to repurchase them at a predetermined price on a future date (“repos”). Since substantially all the risks and rewards of ownership are retained by the Group, the securities remain on the consolidated statements of financial position and a liability is recorded in respect of the consideration received. On the other hand, the Group borrows or purchases securities under agreements to resell them at a predetermined price on a future date (“reverse repos”). Since the Group does not retain the risks and rewards of ownership of the financial assets, these transactions are treated as collateralized loans and the securities are not included in the consolidated statements of financial position. The Group measures repos and reverse repos at amortized cost. The difference between the sale and purchase price is accrued over the life of the transactions. Securities lent to counterparties remain on the consolidated statements of financial position. Securities borrowed are not recognized in the consolidated statements of financial position, unless these are sold to third parties, at which point the |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Critical Accounting Estimates and Judgments | 3 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS The consolidated financial statements are influenced by estimates and management judgments, which necessarily have to be made in the course of preparation of the consolidated financial statements. Estimates and judgments are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances, and which are continually evaluated. Allowance for Loan Losses The allowance for loan losses is measured under the ECL model which requires the use of complex models and significant assumptions about future economic conditions and credit behavior. A number of significant judgments are also required in applying the accounting requirements for measuring ECL, such as: • qualitative assessment in determining obligor grades; • determining criteria for a significant increase in credit risk since initial recognition; • measuring ECL by choosing appropriate models and assumptions; • incorporating forward-looking information into the ECL measurement by obligor grading, forecast range of macroeconomic scenarios, and additional ECL adjustments if the current circumstances, events or conditions at relevant portfolio level are not fully reflected in the ECL model; and • estimating the expected future cash flows by taking into account factors such as historical loss information, the appropriateness of the borrower’s business plan or operational improvement plan, the status of progress of its plan, the overall support from financial institutions, and the realizable value of any collateral held. For the fiscal year ended March 31, 2023, the obligor grading, macroeconomic factors and additional ECL adjustments used to determine the final ECL reflected the current and forward-looking impact of the situation in Russia and Ukraine, the rising interest rates in foreign countries due to global monetary tightening and the subsequent effects following the mitigation of the COVID-19 pandemic. The obligor grades were reviewed based on the most recent information available as appropriate. The macroeconomic scenarios for incorporating forward-looking information in the ECL measurement were updated, reflecting the recent economic forecasts. The Group assumed that the Japanese economy will recover from the COVID-19 following table shows the growth rates of the Japanese and global GDP, which are the key factors of the macroeconomic scenarios, under the base scenario. For the fiscal year ending March 31, 2024 2025 (%) Japanese GDP 3.4 2.3 Global GDP 2.8 3.0 In determining the need for making additional ECL adjustments, the Group considered whether there is an increase in the credit risk for some portfolios which had a material adverse impact resulting from the sanctions imposed in connection with Russia’s aggression against Ukraine, or from the rising interest rates in foreign countries due to the global monetary tightening, or from the subsequent effects following the mitigation of the COVID-19 COVID-19 COVID-19 as Management estimates and judgments may change from time to time as the economic environment changes or new information becomes available. Changes in these estimates and judgments will result in a different allowance for loan losses and may have a direct impact on impairment charges. Allowance for loan losses amounted to ¥ million and ¥ million at March 31, 2023 and 2022, respectively. For additional information, refer to Note 10 “Loans and Advances.” Fair Value of Financial Instruments The fair values of financial instruments where no active market exists or where quoted prices are not otherwise available are determined by using valuation techniques. In these cases, inputs to valuation techniques are based on observable data with respect to similar financial instruments or by using models. Where observable inputs are not available, the fair value is estimated based on appropriate assumptions that a market participant would take into account. Where valuation techniques (for example, models) are used to determine fair values, they are validated and periodically reviewed. The Group certifies significant valuation models before they are used, and calibrates them to ensure that outputs reflect actual data and comparative market prices. To the extent practical, models use only observable data; however, inputs such as credit risk (both own and counterparty), volatilities and correlations require management to make estimates. Changes in assumptions about these factors could affect the fair values of these financial instruments. More details about the Group’s valuation techniques, significant unobservable inputs used in determining fair values and sensitivity analyses are given in Note 44 “Fair Value of Financial Assets and Liabilities.” Impairment of Property, Plant and Equipment The Group has property, plant and equipment, which consist of assets for rent, land, buildings, right of use assets and others. Property, plant and equipment are tested for impairment if events or changes in circumstances indicate that it may not be recoverable at the end of each reporting period. If any such indication exists, then its recoverable amount is estimated. The process to determine the recoverable amount is inherently uncertain because such recoverable amount is determined based on management estimates and judgments. Changes in management judgments may result in different impairment test results and different impairment amounts recognized. For the fiscal years ended March 31, 2023, 2022 and 2021, impairment losses on property, plant and equipment were ¥31,617 million, ¥43,708 million and ¥10,959 million, respectively. For additional information, refer to Note 12 “Property, Plant and Equipment.” Impairment of Intangible Assets Impairment of goodwill Goodwill is tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that it may not be recoverable. If any such indication exists, then its recoverable amount is estimated. The process to determine the recoverable amount is inherently uncertain because such recoverable amount is determined based on a number of management estimates and judgments. The Group determines the recoverable amount using the estimated future cash flows, pre-tax pre-tax Impairment of other intangible assets The Group has other intangible assets, not including goodwill, which consist of software, contractual customer relationships, trademarks and others. These are divided into other amortizing intangible assets and other non-amortizing non-amortizing Provision for Interest Repayment Provision for interest repayment represents management’s estimate of future claims for the refund of so-called Management estimates and judgments may change from time to time as the legal environment and market conditions change or new information becomes available. Changes in these estimates and judgments could affect the balance of provision for interest repayment. Provision for interest repayment is recorded in provisions as a liability, and it totaled ¥128,234 million and ¥135,123 million at March 31, 2023 and 2022, respectively. For additional information, refer to Note 21 “Provisions.” Retirement Benefits The Group has defined benefit plans such as defined benefit pension plans and lump-sum The difference between the fair value of the plan assets and the present value of the defined benefit obligation at the end of the reporting period is recognized as assets and liabilities in the consolidated statements of financial position. When this calculation for each plan results in a benefit to the Group, the recognized asset is limited to the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan (“asset ceiling”). An economic benefit is available to the Group, if it is realizable during the life of the plan or on settlement of the plan obligation. The net total of assets and liabilities in the consolidated statements of financial position amounted to net assets of ¥525,123 million and ¥508,496 million at March 31, 2023 and 2022, respectively. For additional information, refer to Note 24 “Retirement Benefits.” Deferred Tax Assets Deferred tax assets relating to tax losses carried forward and deductible temporary differences are recognized, only to the extent that it is probable that future taxable profit will be available against which the tax losses carried forward and the deductible temporary differences can be utilized. This assessment requires significant management estimates and judgments. Future taxable profit is estimated based on, among other relevant factors, forecasted results of operations, which are based on historical financial performance and the business plans that management believes to be prudent and feasible. While the Group carefully assesses the realization of tax losses carried forward and deductible temporary differences, the actual taxable profit in the future may be less than the forecast. The deferred tax assets amounted to ¥65,810 million and ¥58,981 million in the consolidated statements of financial position at March 31, 2023 and 2022, respectively, while the net total of deferred tax assets and liabilities amounted to net liabilities of ¥250,120 million and ¥200,299 million at March 31, 2023 and 2022, respectively. For additional information, refer to Note 23 “Deferred Income Tax.” |
Segment Analysis
Segment Analysis | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Segment Analysis | 4 SEGMENT ANALYSIS Business Segments The Group’s business segment information is prepared based on the internal reporting system utilized by its management to assess the performance of its business segments under accounting principles generally accepted in Japan (“Japanese GAAP”). The Group has four main business segments: the Wholesale Business Unit, the Retail Business Unit, the Global Business Unit and the Global Markets Business Unit, with the remaining operations recorded in Head office account and others. Wholesale Business Unit The Wholesale Business Unit provides comprehensive solutions primarily for corporate clients in Japan that respond to wide-ranging client needs in relation to financing, investment management, risk hedging, settlement, M&A and other advisory services, digital services and leasing services. This business unit mainly consists of the wholesale businesses of SMBC, SMBC Trust Bank Ltd. (“SMBC Trust Bank”), Sumitomo Mitsui Finance and Leasing Company, Limited (“SMFL”), SMBC Nikko Securities Inc. (“SMBC Nikko Securities”), Sumitomo Mitsui Card Company, Limited (“Sumitomo Mitsui Card”) and SMBC Finance Service Co., Ltd. (“SMBC Finance Service”), which changed its corporate name from Cedyna Financial Corporation upon merger with former SMBC Finance Service Co., Ltd. in July 2020. Retail Business Unit The Retail Business Unit provides financial services to consumers residing in Japan and mainly consists of the retail businesses of SMBC, SMBC Trust Bank, SMBC Nikko Securities, Sumitomo Mitsui Card, SMBC Finance Service and SMBC Consumer Finance Co., Ltd. (“SMBC Consumer Finance”). This business unit offers a wide range of products and services for consumers, including wealth management services, settlement services, consumer finance and housing loans, in order to address the financial needs of all individual customers. Global Business Unit The Global Business Unit supports the global businesses of a diverse range of clients, such as Japanese companies operating overseas, non-Japanese Global Markets Business Unit The Global Markets Business Unit offers solutions through foreign exchange products, derivatives, bonds, stocks and other marketable financial products, and also undertakes asset liability management operations, which help comprehensively control balance sheet liquidity risks and market risks. This business unit consists of the Global Markets and Treasury Unit of SMBC, which was renamed from the Treasury Unit in April 2023 and the Global Markets Division of SMBC Nikko Securities. Head office account and others The Head office account and others represent the difference between the aggregate of the Wholesale Business Unit, the Retail Business Unit, the Global Business Unit and the Global Markets Business Unit, and the Group as a whole. It mainly consists of administrative expenses related to headquarters operations and profit or loss from other subsidiaries including The Japan Research Institute, Limited and Sumitomo Mitsui DS Asset Management Company, Limited. It also includes the elimination items related to internal transactions between the Group companies. Measurement of Segment Profit or Loss The business segment information is prepared under the management approach. Consolidated net business profit is used as a profit indicator of banks in Japan. Consolidated net business profit of each segment is calculated by deducting general and administrative expenses (i.e., the total of personnel expense, non-personnel under Japanese GAAP. Consequently, the business segment information does not agree with the figures in the consolidated financial statements under IFRS. These differences are addressed in the “Reconciliation of Segmental Results of Operations to Consolidated Income Statements.” Information regarding the total assets of each segment is not used by management in deciding how to allocate resources and assess performance. Accordingly, total assets are not included in the business segment information. Segmental Results of Operations The following tables show the Group’s results of operations by business segment for the fiscal years ended March 31, 2023, 2022 and 2021. For the fiscal year ended March 31, 2023: Wholesale Business Unit Retail Business Unit Global Business Unit (3) Global Markets Business Unit Head office account and others (3) Total (In billions) Consolidated gross profit (1) ¥ 773.7 ¥ 1,150.2 ¥ 1,205.2 ¥ 457.8 ¥ (416.7 ) ¥ 3,170.2 General and administrative expenses (293.3 ) (933.3 ) (637.9 ) (112.5 ) 27.8 (1,949.2 ) Others (2) 78.1 4.7 44.9 28.9 (101.2 ) 55.4 Consolidated net business profit ¥ 558.5 ¥ 221.6 ¥ 612.2 ¥ 374.2 ¥ (490.1 ) ¥ 1,276.4 For the fiscal year ended March 31, 2022: Wholesale Business Unit Retail Business Unit Global Business Unit Global Markets Business Unit Head office account and others Total (In billions) Consolidated gross profit (1) ¥ 707.5 ¥ 1,146.9 ¥ 872.0 ¥ 390.6 ¥ (171.5 ) ¥ 2,945.5 General and administrative expenses (303.6 ) (935.5 ) (461.3 ) (92.3 ) (28.4 ) (1,821.1 ) Others (2) 65.8 3.5 20.5 39.8 (101.1 ) 28.5 Consolidated net business profit ¥ 469.7 ¥ 214.9 ¥ 431.2 ¥ 338.1 ¥ (301.0 ) ¥ 1,152.9 For the fiscal year ended March 31, 2021: Wholesale Business Unit Retail Business Unit Global Business Unit Global Markets Business Unit Head office account and others Total (In billions) Consolidated gross profit (1) ¥ 634.9 ¥ 1,127.4 ¥ 723.7 ¥ 460.7 ¥ (140.5 ) ¥ 2,806.2 General and administrative expenses (299.9 ) (910.4 ) (383.3 ) (82.9 ) (70.6 ) (1,747.1 ) Others (2) 53.5 2.2 26.3 35.7 (92.8 ) 24.9 Consolidated net business profit ¥ 388.5 ¥ 219.2 ¥ 366.7 ¥ 413.5 ¥ (303.9 ) ¥ 1,084.0 (1) Consolidated gross profit = (Interest income – Interest expenses) + Trust fees + (Fee and commission income – Fee and commission expenses) + (Trading income – Trading losses) + (Other operating income – Other operating expenses). (2) “Others” includes share of profit or loss of equity-method associates and joint ventures and cooperated profit and loss, that is, profit and loss double counted within the Group’s business segments in the managerial accounting. (3) The business segment of Fullerton India Credit Company Limited (“Fullerton India”) and its consolidated subsidiary was changed from Head office account and others to Global Business Unit from the beginning of the fiscal year ended March 31, 2023. Reconciliation of Segmental Results of Operations to Consolidated Income Statements The figures provided in the tables above are calculated by aggregating the figures used for management reporting under Japanese GAAP for each segment. The total amount of consolidated net business profit that is calculated by each segment based on the internal managerial data is reconciled to profit before tax reported in the consolidated financial statements under IFRS as shown in the following table: For the fiscal year ended March 31, 2023 2022 2021 (In billions) Consolidated net business profit ¥ 1,276.4 ¥ 1,152.9 ¥ 1,084.0 Differences between management reporting and Japanese GAAP: Total credit costs (210.2 ) (274.4 ) (360.5 ) Gains on equity instruments 155.9 209.1 92.6 Extraordinary gains or losses and others (123.6 ) (158.0 ) (143.9 ) Profit before tax under Japanese GAAP 1,098.5 929.6 672.2 Differences between Japanese GAAP and IFRS: Scope of consolidation 4.9 3.0 5.7 Derivative financial instruments 374.0 136.9 94.8 Investment securities (147.0 ) (189.2 ) 113.3 Loans and advances 13.6 (54.4 ) 60.9 Investments in associates and joint ventures (10.6 ) (61.5 ) 3.4 Property, plant and equipment 1.6 9.0 (2.5 ) Lease accounting (0.5 ) (0.9 ) 1.0 Defined benefit plans (60.7 ) (67.0 ) — Foreign currency translation 6.6 (40.7 ) (20.2 ) Classification of equity and liability 11.3 10.9 12.5 Others (29.8 ) 0.8 15.4 Profit before tax under IFRS ¥ 1,261.9 ¥ 676.5 ¥ 956.5 Information about Geographical Areas The following table shows the total operating income in accordance with IFRS by the main geographical areas. The Group’s services are provided to domestic and foreign clients on a worldwide basis. These include transactions where SMBC’s branches in Japan may deal with customers located in foreign countries and where SMBC’s overseas branches may provide services to Japanese companies. To identify income attributed to each geographical area for the purposes of this disclosure, they are aggregated based on the geographical location of the booking entity, with the assumption that transactions booked in booking entities are deemed to have occurred in their respective geographical areas. For the fiscal year ended March 31, 2023 2022 2021 (In millions) Domestic (1) Japan ¥ 1,778,161 ¥ 1,805,619 ¥ 2,077,833 Total domestic 1,778,161 1,805,619 2,077,833 Foreign (1)(2) Americas 829,948 592,009 448,998 Europe and Middle East 356,222 280,930 246,218 Asia and Oceania 826,345 458,902 392,536 Total foreign 2,012,515 1,331,841 1,087,752 Total operating income (3) ¥ 3,790,676 ¥ 3,137,460 ¥ 3,165,585 (1) The geographical segmentation is determined based on the degrees of the following factors: geographic proximity, similarity of economic activities and relationship of business activities among regions. (2) Americas includes the United States, Brazil, Canada and others; Europe and Middle East include the United Kingdom, Germany and others; Asia and Oceania include China, Singapore, Indonesia and others except Japan. (3) Total operating income comprises net interest income, net fee and commission income, net trading income, net income from financial assets and liabilities at fair value through profit or loss, net investment income and other income. |
Cash and Deposits with Banks
Cash and Deposits with Banks | 12 Months Ended |
Mar. 31, 2023 | |
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Cash and Deposits with Banks | 5 CASH AND DEPOSITS WITH BANKS Cash and deposits with banks at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Cash ¥ 1,351,808 ¥ 916,635 Deposits with banks 75,113,703 74,780,886 Total cash and deposits with banks ¥ 76,465,511 ¥ 75,697,521 The reconciliation of cash and cash equivalents used for the purposes of the consolidated statements of cash flows at March 31, 2023, 2022 and 2021 is shown as follows: At March 31, 2023 2022 2021 (In millions) Cash and deposits with banks ¥ 76,465,511 ¥ 75,697,521 ¥ 73,090,816 Less: term deposits with original maturities over three months (444,741 ) (511,148 ) (675,185 ) Less: cash segregated as deposits and others (676,535 ) (842,420 ) (866,934 ) Cash and cash equivalents ¥ 75,344,235 ¥ 74,343,953 ¥ 71,548,697 Private depository institutions in Japan are required to maintain certain minimum reserve funds with the Bank of Japan, based on average deposit balances and certain other factors. There are similar reserve deposit requirements for the Group’s foreign offices engaged in banking businesses in foreign countries. At March 31, 2023, 2022 and 2021, the reserve funds required to be maintained by the Group, which were included in cash and cash equivalents, amounted to ¥2,102,543 million, ¥1,948,949 million and ¥1,875,857 million, respectively. |
Trading Assets
Trading Assets | 12 Months Ended |
Mar. 31, 2023 | |
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Trading Assets | 6 TRADING ASSETS Trading assets at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments ¥ 4,229,845 ¥ 3,489,258 Equity instruments 356,070 247,038 Total trading assets ¥ 4,585,915 ¥ 3,736,296 Trading debt instruments mainly consist of Japanese government bonds. Trading equity instruments mainly consist of publicly traded Japanese stocks. |
Derivative Financial Instrument
Derivative Financial Instruments and Hedge Accounting | 12 Months Ended |
Mar. 31, 2023 | |
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Derivative Financial Instruments and Hedge Accounting | 7 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING Derivative financial instruments include futures, forwards, swaps, options and other types of derivative contracts, which are transactions listed on exchanges or over-the-counter Derivatives are financial instruments that derive their value from the price of underlying items such as interest rates, foreign exchange rates, equities, bonds, commodities, credit spreads and other indices. The Group’s derivative financial instruments mainly consist of interest rate derivatives and currency derivatives. Interest rate derivatives include interest rate swaps, interest rate options and interest rate futures. Currency derivatives include foreign exchange forward transactions, currency swaps and currency options. The tables below represent the derivative financial instruments by type and purpose of derivatives at March 31, 2023 and 2022. At March 31, 2023 Trading Risk Management (1) Notional Assets Liabilities Notional Assets Liabilities (In millions) Interest rate derivatives ¥ 1,691,197,124 ¥ 5,025,797 ¥ 6,380,627 ¥ 65,003,591 ¥ 763,819 ¥ 1,032,506 Futures 129,630,431 37,084 36,633 8,746,711 5,990 2,836 Listed Options 262,156,548 87,651 52,918 — — — Forwards 24,354,115 30,619 24,358 — — — Swaps 1,036,174,625 4,059,518 4,100,097 56,071,259 757,829 1,008,337 OTC Options 238,881,405 810,925 2,166,621 185,621 — 21,333 Currency derivatives 220,393,641 2,571,317 1,629,519 21,600,130 203,864 1,376,767 Futures 1,114 145 — — — — Listed Options — — — — — — Forwards 115,616,503 1,113,495 1,107,415 7,430,656 71,072 184,808 Swaps 93,961,952 1,282,512 352,236 14,169,474 132,792 1,191,959 OTC Options 10,814,072 175,165 169,868 — — — Equity derivatives 2,372,833 54,508 42,208 — — — Futures 1,369,369 11,259 16,491 — — — Listed Options 565,733 9,312 17,713 — — — Forwards 146,369 12,567 2 — — — Swaps 39,235 433 2,554 — — — OTC Options 252,127 20,937 5,448 — — — Commodity derivatives 129,488 9,142 7,946 — — — Futures 25,427 407 1,247 — — — Listed Options — — — — — — Forwards — — — — — — Swaps 73,010 8,567 6,331 — — — OTC Options 31,051 168 368 — — — Credit derivatives 2,893,477 21,500 27,282 — — — Total derivative financial instruments ¥ 1,916,986,563 ¥ 7,682,264 ¥ 8,087,582 ¥ 86,603,721 ¥ 967,683 ¥ 2,409,273 At March 31, 2022 Trading Risk Management (1) Notional Assets Liabilities Notional Assets Liabilities (In millions) Interest rate derivatives ¥ 1,429,411,628 ¥ 3,016,258 ¥ 3,189,943 ¥ 56,750,246 ¥ 577,685 ¥ 582,721 Futures 150,781,509 118,492 119,133 774,857 321 2 Listed Options 450,609,244 493,433 99,058 — — — Forwards 12,650,288 1,447 84 — — — Swaps 659,925,813 2,062,478 2,096,930 55,805,239 577,364 579,505 OTC Options 155,444,774 340,408 874,738 170,150 — 3,214 Currency derivatives 180,733,207 2,637,955 2,000,625 13,999,978 66,030 986,906 Futures 10,759 101 204 — — — Listed Options — — — — — — Forwards 84,081,833 1,259,714 1,132,187 2,836,806 29,947 267,923 Swaps 86,177,897 1,258,400 727,106 11,163,172 36,083 718,983 OTC Options 10,462,718 119,740 141,128 — — — Equity derivatives 2,801,005 102,313 157,086 19,720 — 2,031 Futures 1,231,058 39,764 62,024 — — — Listed Options 1,252,615 35,056 82,997 — — — Forwards — — — — — — Swaps 56,448 542 4,859 19,720 — 2,031 OTC Options 260,884 26,951 7,206 — — — Commodity derivatives 153,247 21,540 19,544 — — — Futures 11,186 1,413 202 — — — Listed Options — — — — — — Forwards — — — — — — Swaps 138,270 20,033 18,815 — — — OTC Options 3,791 94 527 — — — Credit derivatives 2,839,549 21,967 27,480 — — — Total derivative financial instruments ¥ 1,615,938,636 ¥ 5,800,033 ¥ 5,394,678 ¥ 70,769,944 ¥ 643,715 ¥ 1,571,658 (1) Derivative financial instruments categorized as “Risk Management” are used for economic hedging, such as managing the exposure to changes in fair value of the loan portfolio, and are identified as hedging instruments under Japanese GAAP. Under IFRS, the Group applies hedge accounting for certain fixed rate debt securities in issue, borrowings, and debt instruments at fair value through other comprehensive income (“FVOCI”), certain equity instruments elected to be measured at FVOCI and net investments in foreign operations. Derivative financial instruments designated as hedging instruments are also categorized as “Risk Management.” Hedge accounting The Group applies fair value hedge accounting and hedge accounting of net investments in foreign operations in order to reflect the effect of risk management activities on its consolidated financial statements. Fair value hedges The Group applies fair value hedge accounting to mitigate the risk of changes in the fair value of certain fixed rate financial assets and liabilities, and the risk of changes in the fair value of certain equity instruments elected to be measured at FVOCI. For more information about the interest rate benchmarks to which the Group’s hedging relationships are exposed, see “Interest Rate Benchmark Reform” in this note. For fair value hedge of interest rate risk, the Group designates as hedging instruments certain interest rate derivatives and establishes a hedge ratio by matching the notional of the derivative financial instruments with the principal amount of the hedged items. The Group assesses hedge effectiveness qualitatively by considering whether the critical terms of the hedged items and hedging instruments closely align. The Group further assesses hedge effectiveness quantitatively by comparing changes in the fair value of the hedged items held at amortized cost arising from changes in the interest rate benchmarks with those of the hedging instruments. If the hedged item is a financial asset measured at FVOCI, in the quantitative assessment, the Group compares changes in the fair value of the hedged items with those of the hedging instruments. Sources of hedge ineffectiveness include basis risk, timing differences between the hedged items and hedging instruments and the effect of the counterparty or the Group’s own credit risk on the fair value of the interest rate derivatives, which is not reflected in the fair value of the hedged item. The gain or loss on the hedging instrument is recognized in “Net trading income” in the consolidated income statements. The hedging gain or loss on the hedged item held at amortized cost adjusts the carrying amount of the hedged item, and is recognized in “Net trading income” in the consolidated income statements. If the hedged item is a financial asset measured at FVOCI, the hedging gain or loss on the hedged item is recognized in “Net trading income” in the consolidated income statements. If the hedge no longer meets the criteria for hedge accounting for reasons other than the derecognition of the hedged item, the adjustment to the hedged item for which the effective interest method is used is amortized to profit or loss over the period to maturity of the hedged item. When the hedged item is derecognized, the adjustment is recognized immediately in the consolidated income statements. For fair value hedge of stock price risk, the Group designates as hedging instruments equity derivatives with underlying instruments identical to the hedged items and establishes a hedge ratio by aligning the number of shares of hedged items with that of equity derivatives used as hedging instruments. The Group assesses hedge effectiveness qualitatively by considering whether the critical terms of the hedged items and hedging instruments closely align and quantitatively by comparing changes in the fair value of the hedged items with those of the hedging instruments. Hedge ineffectiveness may arise from the effect of the counterparty or the Group’s own credit risk on the fair value of the equity derivatives and interest rate risk on the equity derivatives. There are no other sources of hedge ineffectiveness in the hedging relationships. Both the effective portion and ineffective portion of changes in the fair value of the hedging instruments are recognized in other comprehensive income, and amounts presented in other comprehensive income are not subsequently transferred to profit or loss. The tables below represent the amounts related to items designated as hedging instruments at March 31, 2023 and 2022. Line item in the consolidated At March 31, 2023 For the fiscal year Notional (1) Carrying amounts Change in value used Assets Liabilities (In millions) Interest rate risk Interest rate swaps Derivative financial ¥ 8,264,813 ¥ 101,835 ¥ 587,049 ¥ (290,527 ) Interest rate options Derivative financial 185,621 — 21,333 (16,769 ) Stock price risk Equity swaps Derivative financial — — — 3,174 (1) At March 31, 2023, the notional amount of interest rate swaps with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥7,641,814 million out of ¥8,264,813 million in total, and that of interest rate options with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥185,621 million, equal to the total notional amount. Line item in the consolidated At March 31, 2022 For the fiscal year Notional (1) Carrying amounts Change in value used Assets Liabilities (In millions) Interest rate risk Interest rate swaps Derivative financial ¥ 8,117,678 ¥ 110,604 ¥ 246,482 ¥ (209,287 ) Interest rate options Derivative financial 170,150 — 3,214 (9,551 ) Stock price risk Equity swaps Derivative financial 19,720 — 2,031 5,191 (1) At March 31, 2022, the notional amount of interest rate swaps with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥7,355,644 million out of ¥8,117,678 million in total, and that of interest rate options with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥170,150 million, equal to the total notional amount. That of equity swaps with remaining maturities more than 12 months that are designated hedging instruments against stock price risk is ¥19,720 million, equal to the total notional amount. The amounts related to items designated as hedged items at March 31, 2023 and 2022 were as follows: Line item in the consolidated At March 31, 2023 For the fiscal year Carrying amounts Change in value used (In millions) Interest rate risk Debt instruments at FVOCI Investment securities ¥ 707,845 ¥ (90,536 ) Debt securities in issue Debt securities in issue 6,928,872 391,708 Borrowings Borrowings 128,778 10,702 Stock price risk Equity instruments at fair value through other comprehensive income Investment securities — (3,199 ) Line item in the consolidated At March 31, 2022 For the fiscal year Carrying amounts Change in value used (In millions) Interest rate risk Debt instruments at FVOCI Investment securities ¥ 1,256,768 ¥ (82,016 ) Debt securities in issue Debt securities in issue 6,569,461 294,332 Borrowings Borrowings 106,489 6,842 Stock price risk Equity instruments at fair value through other comprehensive income Investment securities 21,355 (5,313 ) As for interest rate risk, the accumulated amount s balances remaining in the consolidated statements of financial position for any hedged items that had ceased to be adjusted for hedging gains and losses at March 31, 2023 and 2022. As for stock price risk, the accumulated amounts of fair value hedge adjustments on the hedged items were and a loss of ¥ million at March 31, 2023 and 2022, respectively. Ther e were no balances remaining in the consolidated statements of financial position for any hedged items that had ceased to be adjusted for hedging gains and losses at March 31, 2023 and 2022. As for interest rate risk, hedge ineffectiveness was included in “Net trading income” in the consolidated income statements, and amounted to a profit of Interest Rate Benchmark Reform Interest rate benchmark reform has been undertaken globally to replace or reform interest rate benchmarks such as interbank offered rates (“IBORs”) with alternative rates. This reform gives rise to uncertainties about the timing or the amount of interest rate benchmark-based cash flows of hedged items or of hedging instruments. As a response, the IASB issued in September 2019 “Interest Rate Benchmark Reform: Amendments to IFRS 9, IAS 39 and IFRS 7” that provide temporary relief from applying specific hedge accounting requirements to hedging relationships directly affected by interest rate benchmark reform. The reliefs aim to ensure that the interest rate benchmark reform does not result in the discontinuance of hedge accounting. The IASB also issued in August 2020 “Interest Rate Benchmark Reform—Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16.” Under these amendments, changes made to a financial instrument measured at other than fair value through profit or loss that are economically equivalent and required by interest rate benchmark reform, do not result in the derecognition or a change in the carrying amount of the financial instrument. Instead, they require the effective interest rate to be updated to reflect the change in the interest rate benchmark. In addition, hedge accounting will not be discontinued solely because of the replacement of the interest rate benchmark if the hedge meets other hedge accounting criteria. The Group’s fair value hedge relationships where IBOR-linked derivatives are designated as hedging instruments are directly affected by the interest rate benchmark reform. Those hedging instruments offset the risk exposure the Group aims to manage through hedge relationships. USD LIBOR is the significant interest rate benchmark to which hedging relationships are exposed. The notional amounts of hedging instruments directly affected by the interest rate benchmark reform were ¥4,716,476 million and ¥5,669,889 million at March 31, 2023 and 2022, respectively. The Group put in place a Group-wide IBOR transition project team in May 2019 involving all the Group’s business lines and functions. This project team’s objective was to provide smooth and efficient global coordination for the transition from LIBOR to alternative reference rates, expected to take place by the end of 2021 or mid-2023. At March 31, 2023, the Group has assumed that remaining financial instruments, referencing USD LIBOR setting, are still exposed to uncertainty about the timing or the amount of interest rate benchmark-based cash flows of hedging instruments. Hedges of net investments in foreign operations The Group applies hedge accounting of net investments in foreign operations to mitigate the foreign currency risk of exchange differences arising from the translation of net investments in foreign operations. The Group hedges the risk of changes in its equity, arising from the movement in the U.S. dollar exchange rate or other exchange rates against Japanese yen. Changes in foreign exchange rates would have an impact on the equity of the Group if it did not apply the hedge accounting. The Group designates as hedging instruments foreign exchange forward contracts and foreign currency denominated financial liabilities. When the hedging instruments are foreign exchange forward contracts, the Group establishes a hedge ratio where the notional amounts on the foreign exchange forward contracts match the carrying amount of the hedged items. The Group designates as hedging instruments only the changes in the fair value of the spot element of the foreign exchange forward contracts, and assesses hedge effectiveness and calculates hedge ineffectiveness by comparing the changes in the carrying amounts of the hedging instruments that are attributable to a change in the spot rate with the changes in the net investments in foreign operations due to a movement in the spot rate. Therefore, the only sources of hedge ineffectiveness that is expected to arise from these hedging relationships are due to the effect of the counterparty or the Group’s own credit risk on the changes in the fair value of the hedging instruments. There are no other sources of hedge ineffectiveness in these hedge relationships. When the hedging instruments are foreign currency denominated financial liabilities, the Group designates them as hedging instruments to the extent that the amounts do not exceed those of the hedged items, and establishes the hedge ratio by aligning the amounts of the hedging instruments with those of the hedged items. The Group assesses hedge effectiveness and calculates hedge ineffectiveness by comparing the changes in the carrying amounts of the liabilities that are attributable to a change in the spot rate with the changes in the net investments in foreign operations due to a movement in the spot rate. Therefore, no hedge ineffectiveness arises. The effective portion of the gain or loss on the hedging instruments is recognized in other comprehensive income, whereas the ineffective portion of the gain or loss on the hedging instruments is recognized in “Net trading income” in the consolidated income statements. The cumulative gain or loss recognized in other comprehensive income is reclassified to profit or loss on the disposal or partial disposal of the foreign operations. On the other hand, changes in the fair value of the forward element of the foreign exchange forward contracts are recognized in “Net trading income” in the consolidated income statements because the Group designates as hedging instruments only the changes in the fair value of the spot element of the foreign exchange forward contracts, as stated above. The tables below represents the amounts related to items designated as hedging instruments at March 31, 2023 and 2022. Line item in the consolidated At March 31, 2023 For the fiscal year Nominal Carrying amounts Change in value used Assets Liabilities (In millions) Foreign exchange forward contracts Derivative financial instruments ¥ 3,088,524 ¥ 48,483 ¥ 147,366 ¥ (195,012 ) Foreign currency denominated financial liabilities Debt securities in issue, Borrowings, Deposits 287,072 — 287,072 (13,434 ) Line item in the consolidated At March 31, 2022 For the fiscal year Nominal Carrying amounts Change in value used Assets Liabilities (In millions) Foreign exchange forward contracts Derivative financial instruments ¥ 2,783,215 ¥ 29,947 ¥ 266,699 ¥ (191,493 ) Foreign currency denominated financial liabilities Debt securities in issue, Borrowings, Deposits 129,090 — 129,090 (11,846 ) The amounts related to items designated as hedged items for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended At March 31, 2023 Change in value used Translating (In millions) USD foreign operations ¥ 98,413 ¥ 206,338 EUR foreign operations 72,926 167,474 THB foreign operations 22,204 57,077 Other foreign operations 14,903 63,227 Total ¥ 208,446 ¥ 494,116 For the fiscal year ended At March 31, 2022 Change in value used Translating (In millions) USD foreign operations ¥ 105,164 ¥ 107,924 EUR foreign operations 56,049 94,548 THB foreign operations 14,481 34,874 Other foreign operations 27,645 48,324 Total ¥ 203,339 ¥ 285,670 The balances remaining in the foreign currency translation reserve from hedging relationships for which hedge accounting is no longer applied were both ¥37,927 million at March 31, 2023 and 2022, respectively. Changes in the translating foreign operations reserve of ¥208,446 million and ¥203,339 million were offset by hedges of net investment in foreign operations for the fiscal years ended March 31, 2023 and 2022, respectively. There w as Credit derivatives The Group enters into credit derivatives to manage the risk of its commercial banking credit portfolio containing loans by hedging economically, as well as diversifying the credit exposure in the portfolio, and to undertake credit loss protection transactions based on the needs from customers as financial intermediation. The tables below provide the notional amounts and the fair value of credit derivatives by purpose of transactions at March 31, 2023 and 2022. At March 31, 2023 Protection purchased Protection sold Notional Assets Liabilities Notional Assets Liabilities (In millions) Managing the Group’s credit risk portfolio ¥ 1,502,814 ¥ 4,738 ¥ 16,442 ¥ 1,347,591 ¥ 16,456 ¥ 10,542 Facilitating client transactions 36,702 251 203 6,370 55 95 Total ¥ 1,539,516 ¥ 4,989 ¥ 16,645 ¥ 1,353,961 ¥ 16,511 ¥ 10,637 At March 31, 2022 Protection purchased Protection sold Notional Assets Liabilities Notional Assets Liabilities (In millions) Managing the Group’s credit risk portfolio ¥ 1,508,262 ¥ 2,133 ¥ 21,975 ¥ 1,282,915 ¥ 19,489 ¥ 4,925 Facilitating client transactions 41,502 236 572 6,870 109 8 Total ¥ 1,549,764 ¥ 2,369 ¥ 22,547 ¥ 1,289,785 ¥ 19,598 ¥ 4,933 The following table summarizes the notional amounts of the Group’s credit derivative portfolio by type of counterparty at March 31, 2023 and 2022. At March 31, 2023 At March 31, 2022 Protection Protection Protection Protection (In millions) Banks and broker-dealers ¥ 1,539,516 ¥ 1,353,961 ¥ 1,549,764 ¥ 1,289,785 Insurance and other financial guaranty firms — — — — Total ¥ 1,539,516 ¥ 1,353,961 ¥ 1,549,764 ¥ 1,289,785 |
Financial Assets at Fair Value
Financial Assets at Fair Value through Profit or Loss | 12 Months Ended |
Mar. 31, 2023 | |
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Financial Assets at Fair Value through Profit or Loss | 8 FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS Financial assets at fair value through profit or loss at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments ¥ 1,392,889 ¥ 1,657,206 Equity instruments 95,350 38,379 Total financial assets at fair value through profit or loss ¥ 1,488,239 ¥ 1,695,585 Debt instruments in financial assets at fair value through profit or loss mainly consist of investment funds. Equity instruments in financial assets at fair value through profit or loss mainly consist of subordinated loans classified as equity instruments and non-trading |
Investment Securities
Investment Securities | 12 Months Ended |
Mar. 31, 2023 | |
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Investment Securities | 9 INVESTMENT SECURITIES The following table shows the amount of investment securities, which consist of debt instruments at amortized cost, debt instruments at fair value through other comprehensive income and equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Debt instruments at amortized cost: Domestic: Japanese government bonds ¥ 72,549 ¥ — Japanese municipal bonds 93,044 25,741 Total domestic 165,593 25,741 Foreign: Bonds issued by other governments and official institutions (1) 68,121 56,400 Other debt instruments 1,853 1,813 Total foreign 69,974 58,213 Total debt instruments at amortized cost ¥ 235,567 ¥ 83,954 Debt instruments at fair value through other comprehensive income: Domestic: Japanese government bonds ¥ 9,576,298 ¥ 15,774,197 Japanese municipal bonds 1,087,625 1,145,496 Japanese corporate bonds 946,726 948,992 Other debt instruments 312 311 Total domestic 11,610,961 17,868,996 Foreign: U.S. Treasury and other U.S. government agency bonds 5,232,456 5,681,789 Bonds issued by other governments and official institutions (1) 2,991,272 2,997,588 Mortgage-backed securities 2,379,250 1,006,051 Other debt instruments 597,484 512,542 Total foreign 11,200,462 10,197,970 Total debt instruments at fair value through other comprehensive income ¥ 22,811,423 ¥ 28,066,966 Equity instruments at fair value through other comprehensive income: Domestic equity instruments ¥ 3,587,964 ¥ 3,658,591 Foreign equity instruments 960,644 939,894 Total equity instruments at fair value through other comprehensive income ¥ 4,548,608 ¥ 4,598,485 Total investment securities ¥ 27,595,598 ¥ 32,749,405 (1) Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agencies. Designation of equity instruments as at fair value through other comprehensive income The Group designates equity instruments, which are issued by its customers and not held for trading, as at fair value through other comprehensive income. Those equity instruments are held to establish, maintain, and strengthen business ties with those customers. Equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Listed ¥ 3,581,167 ¥ 3,659,168 Unlisted 967,441 939,317 Total equity instruments at fair value through other comprehensive income ¥ 4,548,608 ¥ 4,598,485 The investments in the listed equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 mainly consisted of the following: At March 31, 2023 (In millions) TOYOTA MOTOR CORPORATION ¥ 365,984 DAIKIN INDUSTRIES, LTD. 201,068 Ares Management Corporation 187,804 Kotak Mahindra Bank Limited 92,645 KUBOTA CORPORATION 71,976 SBI Holdings, Inc. 70,848 DAIICHI SANKYO COMPANY, LIMITED 66,048 ITOCHU Corporation 62,509 Seven & i Holdings Co., Ltd. 58,755 FUJIFILM Holdings Corporation 55,448 Murata Manufacturing Co., Ltd. 54,886 MITSUI & CO., LTD. 52,823 East Japan Railway Company 50,208 ESR Group Limited 49,130 BRIDGESTONE CORPORATION 48,303 DAIWA HOUSE INDUSTRY CO., LTD. 45,170 Jefferies Financial Group Inc. 44,505 NIDEC CORPORATION 41,515 Central Japan Railway Company 41,150 NIPPON STEEL CORPORATION 40,836 SG HOLDINGS CO., LTD. 40,670 Asahi Group Holdings, Ltd. 39,530 Sumitomo Realty & Development Co., Ltd. 35,104 Mitsui O.S.K. Lines, Ltd. 29,790 Mitsui Fudosan Co., Ltd. 29,179 GMO Payment Gateway, Inc. 28,468 Shionogi & Co., Ltd. 27,466 KOITO MANUFACTURING CO., LTD. 27,213 MINEBEA MITSUMI Inc. 25,671 ASICS Corporation 25,548 Japan Exchange Group, Inc. 24,807 West Japan Railway Company 24,447 Sanrio Company, Ltd. 24,150 TOYOTA TSUSHO CORPORATION 23,883 At March 31, 2023 (In millions) ASAHI KASEI CORPORATION 23,533 Stanley Electric Co., Ltd. 23,499 SHIMANO INC. 22,840 DAIFUKU CO., LTD. 22,429 TAISHO PHARMACEUTICAL HOLDINGS CO., LTD. 22,240 Makita Corporation 19,026 TORAY INDUSTRIES, INC. 18,170 Tokyo Electric Power Company Holdings, Incorporated 16,994 OMRON Corporation 16,881 Oji Holdings Corporation 16,594 Sekisui House, Ltd. 16,265 Chubu Electric Power Company, Incorporated 15,680 Sanwa Holdings Corporation 15,629 Sumitomo Metal Mining Co., Ltd. 15,148 KAJIMA CORPORATION 13,733 NISSIN FOODS HOLDINGS CO., LTD. 12,821 Others 1,182,148 Total listed equity instruments at fair value through other comprehensive income ¥ 3,581,167 At March 31, 2022 (In millions) TOYOTA MOTOR CORPORATION ¥ 432,660 DAIKIN INDUSTRIES, LTD. 201,690 Ares Management Corporation 167,592 Kotak Mahindra Bank Limited 93,193 MITSUI & CO., LTD. 85,420 KUBOTA CORPORATION 82,922 ESR Cayman Limited (1) 78,076 FUJIFILM Holdings Corporation 70,355 ITOCHU Corporation 60,227 NIDEC CORPORATION 59,122 SG HOLDINGS CO., LTD. 58,262 Seven & i Holdings Co., Ltd. 57,162 Murata Manufacturing Co., Ltd. 55,412 DAIWA HOUSE INDUSTRY CO., LTD. 51,591 East Japan Railway Company 48,668 Sumitomo Realty & Development Co., Ltd. 46,640 DAIICHI SANKYO COMPANY, LIMITED 45,885 BRIDGESTONE CORPORATION 42,822 Jefferies Financial Group Inc. 42,222 Central Japan Railway Company 41,554 Asahi Group Holdings, Ltd. 35,813 Shionogi & Co., Ltd. 34,603 Mitsui Fudosan Co., Ltd. 34,015 GMO Payment Gateway, Inc. 31,470 DAIFUKU CO., LTD. 31,384 Mitsui O.S.K. Lines, Ltd. 30,780 At March 31, 2022 (In millions) NIPPON STEEL CORPORATION 28,415 SHIMANO INC. 28,155 Japan Exchange Group, Inc. 28,095 MINEBEA MITSUMI Inc. 27,542 KOITO MANUFACTURING CO., LTD. 27,077 ASAHI KASEI CORPORATION 26,993 TAISHO PHARMACEUTICAL HOLDINGS CO., LTD. 22,885 Makita Corporation 22,825 West Japan Railway Company 22,808 TOYOTA TSUSHO CORPORATION 21,503 Oji Holdings Corporation 19,223 Stanley Electric Co., Ltd. 18,633 Sumitomo Metal Mining Co., Ltd. 18,491 OMRON Corporation 17,991 Idemitsu Kosan Co., Ltd. 17,357 ASICS Corporation 16,174 BANDAI NAMCO Holdings Inc. 15,514 TORAY INDUSTRIES, INC. 15,345 Block, Inc. 15,071 Tokyo Electric Power Company Holdings, Incorporated 14,479 Sekisui House, Ltd. 14,294 Chubu Electric Power Company, Incorporated 14,155 IBIDEN CO., LTD. 13,966 CME Group Inc. 13,738 Others 1,158,899 Total listed equity instruments at fair value through other comprehensive income ¥ 3,659,168 (1) ESR Cayman Limited changed its trade name to ESR Group Limited on June 21, 2022. Disposal of equity instruments at fair value through other comprehensive income The Group sold equity instruments measured at fair value through other comprehensive income mainly in order to mitigate the impact of share price fluctuations on the Group’s financial base. The fair value of the equity instruments measured at fair value through other comprehensive income at the date of derecognition and the cumulative gain on disposal for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) Fair value of the equity instruments at fair value through other comprehensive income at the date of derecognition ¥ 205,216 ¥ 298,397 Cumulative gain on disposal 142,305 139,675 The Group transferred the cumulative gain or loss related to the equity instruments that were derecognized or whose significant fair value decline reduced income tax expense for the current reporting period from “Other reserves” to “Retained earnings.” The transferred amounts were ¥ |
Loans and Advances
Loans and Advances | 12 Months Ended |
Mar. 31, 2023 | |
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Loans and Advances | 10 LOANS AND ADVANCES The following tables present loans and advances at March 31, 2023 and 2022. At March 31, 2023 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Gross loans and advances ¥ 108,254,496 ¥ 3,718,669 ¥ 1,170,662 ¥ 113,143,827 Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net (388,579 ) Less: Allowance for loan losses (187,455 ) (240,494 ) (436,165 ) (864,114 ) Carrying amount ¥ 111,891,134 At March 31, 2022 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Gross loans and advances ¥ 100,846,789 ¥ 3,700,816 ¥ 1,406,094 ¥ 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net (324,830 ) Less: Allowance for loan losses (162,919 ) (247,020 ) (583,115 ) (993,054 ) Carrying amount ¥ 104,635,815 For additional information on loans and advances and allowance for loan losses at March 31, 2023 and 2022, refer to Note 46 “Financial Risk Management.” |
Investments in Associates and J
Investments in Associates and Joint Ventures | 12 Months Ended |
Mar. 31, 2023 | |
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Investments in Associates and Joint Ventures | 11 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES The following table presents the Group’s principal associates and joint venture at March 31, 2023. Investments in associates and joint ventures of the Group are accounted for using the equity method unless they are held for sale. Company Name Country of Proportion of (1) Proportion (1) Main Business (%) (%) Principal Associates PayPay Bank Corporation Japan 46.5 46.5 Internet banking The Bank of East Asia, Limited China 21.4 21.4 Commercial banking ACLEDA Bank Plc. Cambodia 18.0 18.0 Commercial banking Sumitomo Mitsui Auto Service Company, Limited Japan 26.1 26.1 Leasing SMBC Aviation Capital Limited Ireland 32.0 32.0 Leasing POCKET CARD CO., LTD. Japan 20.0 20.0 Credit card VPBank SMBC Finance Company Limited Vietnam 49.0 49.0 Consumer lending SAKURA KCS Corporation Japan 29.7 29.7 System engineering and data processing JSOL Corporation Japan 50.0 50.0 System development and data processing Sakura Information Systems Co., Ltd. Japan 49.0 49.0 System engineering and data processing China Post & Capital Fund Management Co., Ltd. China 23.6 23.6 Investment management, and investment advisory and agency Principal Joint Venture Sumitomo Mitsui Finance and Leasing Company, Limited Japan 50.0 50.0 Leasing (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. The Group accounts for certain investees, including ACLEDA Bank Plc., as associates regardless of its below 20% holdings of the voting rights to these investees, since the Group has the ability to exercise significant influence over these investees through participation in the policy making process at the meeting of the board of directors, the provision of essential technical information, or other relevant agreements or relationships. On the other hand, the Group accounts for certain investees as financial assets at fair value through other comprehensive income or financial assets at fair value through profit or loss regardless of its 20% or more holdings of the voting rights to these investees when the Group has contracts or arrangements with other investors by which the Group loses the power to exert significant influence over such investees. The Group has interests in a number of associates and joint ventures, none of which are regarded as individually material. The following table summarizes, in aggregate, the financial information of all individually immaterial associates and joint ventures that are accounted for using the equity method: At and for the fiscal year ended 2023 2022 (In millions) Carrying amount of investments in associates and joint ventures ¥ 1,141,250 ¥ 1,009,738 Share of: Profit (loss) from continuing operations 87,428 (10,838 ) Other comprehensive income 30,415 31,835 Total comprehensive income 117,843 20,997 There are no significant restrictions on the ability of associates or joint ventures to transfer funds to the Group in the form of cash dividends, repayment of loans and advances. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Mar. 31, 2023 | |
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Property, Plant and Equipment | 12 PROPERTY, PLANT AND EQUIPMENT The table below shows the changes in property, plant and equipment for the fiscal years ended March 31, 2023 and 2022. Assets for Land Buildings Right of use Others Total (In millions) Cost ¥ 551,598 ¥ 492,499 ¥ 809,153 ¥ 536,305 ¥ 397,768 ¥ 2,787,323 Accumulated depreciation and impairment losses (113,863 ) (4,839 ) (445,190 ) (163,303 ) (305,467 ) (1,032,662 ) Net carrying amount at April 1, 2021 437,735 487,660 363,963 373,002 92,301 1,754,661 Additions 15,951 — 19,802 90,791 47,899 174,443 Acquisition of subsidiaries and businesses — 2 — 2,622 658 3,282 Disposals (18,287 ) (1,452 ) (973 ) (6,906 ) (1,675 ) (29,293 ) Depreciation (17,165 ) — (22,736 ) (93,734 ) (21,726 ) (155,361 ) Impairment losses (28,279 ) (1,050 ) (14,092 ) — (287 ) (43,708 ) Exchange differences 44,420 258 1,281 9,610 5,386 60,955 Others 754 581 5,810 50 (9,178 ) (1,983 ) Net carrying amount 435,129 485,999 353,055 375,435 113,378 1,762,996 Cost 608,839 491,127 811,107 577,603 428,677 2,917,353 Accumulated depreciation and impairment losses (173,710 ) (5,128 ) (458,052 ) (202,168 ) (315,299 ) (1,154,357 ) Net carrying amount at March 31, 2022 435,129 485,999 353,055 375,435 113,378 1,762,996 Additions 24,586 — 18,193 118,064 52,642 213,485 Acquisition of subsidiaries and businesses — — — — — — Disposals (4,086 ) (3,366 ) (1,102 ) (5,217 ) (2,304 ) (16,075 ) Depreciation (18,869 ) — (22,435 ) (89,324 ) (23,787 ) (154,415 ) Impairment losses — (5,802 ) (25,711 ) — (104 ) (31,617 ) Exchange differences 66,397 400 1,174 8,702 5,013 81,686 Others (5,880 ) — 6,084 (663 ) (23,360 ) (23,819 ) Net carrying amount 497,277 477,231 329,258 406,997 121,478 1,832,241 Cost 710,680 487,450 816,038 637,335 447,048 3,098,551 Accumulated depreciation and impairment losses (213,403 ) (10,219 ) (486,780 ) (230,338 ) (325,570 ) (1,266,310 ) Net carrying amount at March 31, 2023 ¥ 497,277 ¥ 477,231 ¥ 329,258 ¥ 406,997 ¥ 121,478 ¥ 1,832,241 The impairment losses on property, plant and equipment are included in “Other expenses” in the consolidated income statements. The Group had ¥1,134 million and ¥6,587 million of contractual commitments to acquire property, plant and equipment at March 31, 2023 and 2022, respectively. Recognition of Impairment Losses The Group recognized impairment losses of ¥31,617 million for the fiscal year ended March 31, 2023, which principally consists of ¥25,711 million for buildings and ¥5,802 million for lands. For the fiscal year ended March 31, 2023, some branches were expected to be relocated and become idle in the near future due to our plan to revise our marketing framework, as part of domestic business reform formulated on our new medium-term management plan. As a result, the Group reduced the carrying amount of branches to the recoverable amount, and recognized impairment losses on buildings and lands. The recoverable amount was determined based on the fair value less costs to sell. The fair values were determined based on market values provided by independent valuation appraisers having the appropriate recognized professional qualifications and recent experience in the locations and categories of properties being valued. The fair values were categorized as level 3 of the fair value hierarchy. The Group recognized impairment losses of ¥ million for the fiscal year ended March 31, 2022, which principally consists of ¥ million for assets for rent, mainly railcars to be leased in the railcar leasing business in the United States, and ¥ million for buildings, including ¥ million for buildings belonging to the SMBC retail banking unit. For the fiscal year ended March 31, 2022, the market and economic environment adversely affected the profitability of the railcar leasing business in the United States, and led the Group to recognize impairment losses on the railcars to be leased. To determine whether they might be impaired, the Group identified the cash-generating units based on similarities in the nature and use in the railcar leasing business. The recoverable amount of those impaired assets was principally determined based on the value in use. The discount rate used to estimate the recoverable amount of the assets for rent was approximately 5%. For the fiscal year ended March 31, 2022, the COVID-19 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2023 | |
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Leases | 13 LEASES As Lessee The Group leases land and buildings, office equipment, and other tangible and intangible assets from third parties under lease contracts. Right of use assets The carrying amount of right of use assets at March 31, 2023 and 2022 consisted of the following: Net carrying amount Depreciation At March 31, For the fiscal year ended March 31, 2023 2022 2023 2022 (In millions) Land and buildings ¥ 380,615 ¥ 348,331 ¥ 77,407 ¥ 81,692 Other tangible assets (1) 26,382 27,104 11,917 12,042 Intangible assets (2) 6,302 6,605 5,437 4,587 Total ¥ 413,299 ¥ 382,040 ¥ 94,761 ¥ 98,321 (1) Other tangible assets include mainly office equipment, machinery and vehicles. (2) Intangible assets include mainly software. The additions of right of use assets for the fiscal years ended March 31, 2023 and 2022 were ¥123,256 million and ¥95,033 million, respectively. The Group leases mainly land and buildings for its head offices and branches. Lease liabilities The maturity analysis of lease liabilities at March 31, 2023 and 2022 were as follows: At March 31, 2023 At March 31, 2022 (In millions) Not later than one year ¥ 76,929 ¥ 76,068 Later than one year and not later than five years 183,516 181,334 Later than five years 183,993 143,672 Total 444,438 401,074 Less: Future interest charges (27,441 ) (17,367 ) Lease liabilities (1) ¥ 416,997 ¥ 383,707 (1) Lease liabilities is included in “Borrowings” in the consolidated statements of financial position. See Note 19 “Borrowings.” For the fiscal years ended March 31, 2023 and 2022, ¥3,905 million and ¥3,061 million were recognized as interests on lease liabilities, respectively and ¥94,522 million and ¥99,095 million were recognized as total cash outflow for leases, respectively. As Lessor The Group leases assets to third parties under finance leases or operating leases, including machinery, equipment, aircraft, vessel and property. Finance lease receivable The maturity analysis of the lease payments receivable, showing the undiscounted lease payments to be received at March 31, 2023 and 2022 were as follows: At March 31, 2023 Undiscounted Unearned Discounted (1) Unguaranteed (1) (In millions) Not later than one year ¥ 38,510 ¥ 14,944 ¥ 23,566 ¥ 862 Later than one year and not later than two years 30,015 9,813 20,202 2,413 Later than two years and not later than three years 65,669 10,064 55,605 5,975 Later than three years and not later than four years 25,616 8,536 17,080 6,111 Later than four years and not later than five years 21,687 7,519 14,168 4,158 Later than five years 213,275 66,950 146,325 11,446 Total ¥ 394,772 ¥ 117,826 ¥ 276,946 ¥ 30,965 At March 31, 2022 Undiscounted Unearned Discounted (1) Unguaranteed (1) (In millions) Not later than one year ¥ 48,883 ¥ 9,787 ¥ 39,096 ¥ 1,205 Later than one year and not later than two years 34,612 8,865 25,747 903 Later than two years and not later than three years 24,634 7,833 16,801 14,695 Later than three years and not later than four years 51,422 7,361 44,061 1,186 Later than four years and not later than five years 17,818 7,991 9,827 12,634 Later than five years 200,728 69,418 131,310 11,108 Total ¥ 378,097 ¥ 111,255 ¥ 266,842 ¥ 41,731 (1) Discounted lease payments and unguaranteed residual values are included in “Loans and advances” in the consolidated statements of financial position. Accumulated allowance for net investment in the lease amounting to ¥824 million and ¥467 million were measured under IFRS 9 at March 31, 2023 and 2022, respectively. For the fiscal years ended March 31, 2023 and 2022, ¥10,427 million and ¥8,554 million were recognized as finance income on net investment in the lease, respectively. Operating lease receivable The total amounts of the future minimum lease payments receivable under non-cancellable At March 31, 2023 At March 31, 2022 (In millions) Not later than one year ¥ 35,656 ¥ 27,907 Later than one year and not later than two years 28,742 19,710 Later than two years and not later than three years 20,763 14,215 Later than three years and not later than four years 14,424 9,363 Later than four years and not later than five years 9,374 5,910 Later than five years 11,056 11,049 Total ¥ 120,015 ¥ 88,154 For the fiscal years ended March 31, 2023 and 2022, ¥39,654 million and ¥32,733 million were recognized as income from operating leases, respectively. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Mar. 31, 2023 | |
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Intangible Assets | 14 INTANGIBLE ASSETS Goodwill The table below shows the changes in goodwill by business segment for the fiscal years ended March 31, 2023 and 2022. Retail Business Unit Global Business Unit Head office account and Total (In millions) Gross amount of goodwill (1) ¥ 61,952 ¥ 4,450 ¥ 242,511 ¥ 308,913 Accumulated impairment losses (1) — — (105,022 ) (105,022 ) Net carrying amount at April 1, 2021 61,952 4,450 137,489 203,891 Acquisitions (2) — — 179,197 179,197 Exchange differences — 527 12,664 13,191 Net carrying amount 61,952 4,977 329,350 396,279 Gross amount of goodwill (1) 61,952 4,977 434,372 501,301 Accumulated impairment losses (1) — — (105,022 ) (105,022 ) Net carrying amount at March 31, 2022 61,952 4,977 329,350 396,279 Transfer of Business Segment (3) — 190,986 (190,986 ) — Impairment losses — — (126,151 ) (126,151 ) Exchange differences — 1,413 465 1,878 Net carrying amount 61,952 197,376 12,678 272,006 Gross amount of goodwill (1) 61,952 197,376 55,076 314,404 Accumulated impairment losses (1) — — (42,398 ) (42,398 ) Net carrying amount at March 31, 2023 ¥ 61,952 ¥ 197,376 ¥ 12,678 ¥ 272,006 (1) The goodwill which all amounts have been impaired is excluded from gross amount of goodwill and accumulated impairment losses. (2) The Group recognized goodwill of ¥179,197 million in Head office account and others resulting from the acquisition of Fullerton India Credit Company Limited (“Fullerton India”) on November 30, 2021. For additional information, refer to Note 5 1 (3) The business segment of Fullerton India and its consolidated subsidiary was changed from Head office account and others to Global Business Unit from the beginning of the fiscal year ended March 31, 2023. The Group has four main business segments: the Wholesale Business Unit, the Retail Business Unit, the Global Business Unit and the Global Markets Business Unit, with the remaining operations recorded in the Head office account and others. Impairment testing of goodwill Allocating goodwill to cash-generating units For the purpose of impairment testing, goodwill is allocated to cash-generating units or group of cash-generating units, which represent the lowest level within the entity at which goodwill is monitored for internal purposes. At March 31, 2023, the Group allocated goodwill to the Retail Business Unit of SMBC Consumer Finance Co., Ltd. (“SMBC Consumer Finance”) amounting to ¥56,692 million, to the Global Business Unit of Fullerton India amounting to ¥192,165 million and to the Head office account and others of Sumitomo Mitsui DS Asset Management Company, Limited (“SMDAM”) amounting to ¥12,678 million. At March 31, 2022, the Group allocated million and to the Head office account and others of SMBC Nikko Securities Inc. (“SMBC Nikko Securities”), SMDAM and Fullerton India amounting to ¥ million , million and ¥ million, respectively. The aggregate amounts of other goodwill were ¥ million and ¥ million at March , and , respectively, and they were not considered individually significant. Timing of impairment tests The Group performs impairment tests at least annually and whenever there is an indication that the cash-generating unit may be impaired. Recoverable amount of cash-generating units To determine whether an impairment loss shall be recognized, the carrying amount of a cash-generating unit is compared to its recoverable amount. The recoverable amount of a cash-generating unit is the higher of its fair value less costs to sell and its value in use. Fair value less costs to sell Value in use The financial plans, which are used to estimate the cash flow projections of the cash-generating units, cover three to five years. The cash flow projections beyond the period covered by the financial plans are extrapolated by applying the appropriate growth rates in perpetuity. Key assumptions used in impairment testing The key assumptions used for the value in use calculations for the fiscal years ended March 31, 2023 and 2022 were as follows: SMBC SMBC SMDAM Fullerton For the fiscal year ended March 31, 2023: Pre-tax 7.90 % 8.95 % 11.30 % 17.60 % Growth rate 1.00 % 1.00 % 1.00 % 8.10 % For the fiscal year ended March 31, 2022: Pre-tax 8.80 % 9.53 % 12.40 % 17.00 % Growth rate 1.00 % 1.00 % 1.00 % 8.30 % Management considers that the pre-tax Pre-tax pre-tax rate, the market risk premium and the beta factor that are used in the CAPM are determined based on market data and other external sources of information. The beta factor is determined based on a respective group of peer companies of the cash-generating units. Growth rate Management believes that there were no reasonably possible changes in any of the key assumptions that would lead to the recoverable amounts of the cash-generating units being below these carrying amounts for the fiscal years ended March 31, 2023 and 2022. Recognition of Impairment Losses If the recoverable amount of the cash-generating unit is less than its carrying amount, the carrying amount of the cash-generating unit is reduced to its recoverable amount, and this reduction is recognized as impairment loss of goodwill. The recoverable amount of SMBC Nikko Securities was determined based on the value in use. For the fiscal year ended March 31, 2023, the value in use of SMBC Nikko Securities decreased to less than its carrying amount, primarily due to the revision of the business plan in which the principal assumptions were those regarding departmental sales projections and expense plannings. Based on these assumptions, the recoverable amount was ¥111,219 million below the carrying amount of approximately ¥1 trillion. As a result, the Group recognized an impairment loss of ¥ 109,629 million on the goodwill relating to SMBC Nikko Securities, for the fiscal year ended March 31, 2023. The impairment losses on goodwill are included in “Other expenses” in the consolidated income statements. Other intangible assets The table below shows the changes in other intangible assets for the fiscal years ended March 31, 2023 and 2022. Internally Purchased Contractual Trademarks Other Total (In millions) Cost ¥ 788,808 ¥ 412,032 ¥ 189,900 ¥ 55,573 ¥ 125,913 ¥ 1,572,226 Accumulated amortization and impairment losses (454,169 ) (271,310 ) (124,704 ) (46,695 ) (59,519 ) (956,397 ) Net carrying amount at April 1, 2021 334,639 140,722 65,196 8,878 66,394 615,829 Additions 125,824 59,913 — — 13,341 199,078 Acquisition of subsidiaries and businesses — 1,030 5,504 — 45 6,579 Disposals (1,149 ) (1,728 ) — — (414 ) (3,291 ) Amortization (95,604 ) (46,200 ) (12,315 ) (885 ) (10,840 ) (165,844 ) Impairment losses (49,304 ) (6,512 ) — — — (55,816 ) Exchange differences 551 2,282 1,874 994 2,771 8,472 Others 918 (4,913 ) — — (4,442 ) (8,437 ) Net carrying amount 315,875 144,594 60,259 8,987 66,855 596,570 Cost 841,775 467,821 188,183 56,693 110,355 1,664,827 Accumulated amortization and impairment losses (525,900 ) (323,227 ) (127,924 ) (47,706 ) (43,500 ) (1,068,257 ) Net carrying amount at March 31, 2022 315,875 144,594 60,259 8,987 66,855 596,570 Additions 124,596 64,552 — — 15,166 204,314 Acquisition of subsidiaries and businesses — — — — — — Disposals (819 ) (1,389 ) — — (3,029 ) (5,237 ) Amortization (90,292 ) (52,411 ) (13,006 ) (621 ) (11,591 ) (167,921 ) Impairment losses (17 ) (6,162 ) (2,524 ) — (665 ) (9,368 ) Exchange differences 471 1,752 667 417 1,089 4,396 Others 2,120 18,675 — — (10,527 ) 10,268 Net carrying amount 351,934 169,611 45,396 8,783 57,298 633,022 Cost 859,742 511,135 181,499 52,903 89,842 1,695,121 Accumulated amortization and impairment losses (507,808 ) (341,524 ) (136,103 ) (44,120 ) (32,544 ) (1,062,099 ) Net carrying amount at March 31, 2023 ¥ 351,934 ¥ 169,611 ¥ 45,396 ¥ 8,783 ¥ 57,298 ¥ 633,022 The impairment losses on other intangible assets are included in “Other expenses” and the amortization expenses of other intangible assets are included in “General and administrative expenses” in the consolidated income statements. The Group had ¥631 million and nil of contractual commitments to acquire intangible assets at March 31, 2023 and 2022, respectively. The amounts of research and development expenditure recognized as expenses for the fiscal years ended March 31, 2023, 2022 and 2021 were nil, ¥35 million and ¥60 million, respectively, and they were included in “General and administrative expenses” in the consolidated income statements. Other intangibles at March 31, 2023 and 2022 include leasehold rights, amounting to ¥6,512 million and ¥6,639 million, respectively, which are rights to use land for the purpose of owning the buildings. Since the Group has a long history of renewal, these contracts are not expected to be terminated in the foreseeable future. Leasehold rights are expected to generate cash flows for an indefinite period of time. They are not amortized but are tested for impairment annually, irrespective of whether there is any indication of impairment. Recognition of Impairment Losses The Group recognized impairment losses of ¥55,816 million for the fiscal year ended March 31, 2022, which consists of ¥49,304 million for internally generated software and ¥6,512 million for purchased software, including ¥32,678 million for software belonging to the SMBC retail banking unit and impairment losses for software belonging to the SMBC Trust Bank’s retail banking business unit. For the fiscal year ended March 31, 2022, the COVID-19 of In addition, the Group recognized impairment losses on software belonging to the SMBC Trust Bank’s retail banking business unit. The Group recognized the software as corporate assets. To determine whether they might be impaired, the Group allocated the software to the group of cash-generating units, which is the SMBC Trust Bank’s retail banking business unit, and compared the carrying amount of that group of cash-generating units, including the carrying amount of the software allocated to that group of units, with the recoverable amount of that group of units. The recoverable amount was determined based on the value in use considering the estimated future cash flows. The discount rate used to estimate the value in use of SMBC Trust Bank’s retail banking business unit was approximately |
Other Assets
Other Assets | 12 Months Ended |
Mar. 31, 2023 | |
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Other Assets | 15 OTHER ASSETS Other assets at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Prepaid expenses ¥ 119,041 ¥ 89,783 Accrued income 577,707 353,673 Receivables from brokers, dealers and customers for securities transactions 817,020 1,505,359 Cash collateral provided for derivative and other financial transactions 3,030,136 2,620,665 Retirement benefit assets 562,144 553,118 Security deposits 78,050 83,903 Others 983,104 857,406 Total other assets ¥ 6,167,202 ¥ 6,063,907 |
Deposits
Deposits | 12 Months Ended |
Mar. 31, 2023 | |
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Deposits | 16 DEPOSITS Deposits at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Non-interest-bearing ¥ 33,550,063 ¥ 30,967,878 Interest-bearing demand deposits 75,184,412 71,508,201 Deposits at notice 14,446,630 12,036,543 Time deposits 27,523,697 25,137,738 Negotiable certificates of deposit 13,025,556 13,069,797 Others (1) 9,197,452 9,873,335 Total deposits ¥ 172,927,810 ¥ 162,593,492 (1) Others include, among other items, foreign currency deposits in domestic offices and Japanese yen accounts held by foreign depositors in domestic offices. |
Trading Liabilities
Trading Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
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Trading Liabilities | 17 TRADING LIABILITIES Trading liabilities at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments “short position” ¥ 3,101,433 ¥ 3,152,043 Equity instruments “short position” 189,656 29,949 Total trading liabilities ¥ 3,291,089 ¥ 3,181,992 Trading liabilities include the instruments classified as held for trading. Trading debt instruments mainly consist of Japanese government bonds. Trading equity instruments mainly consist of publicly traded foreign stocks. |
Financial Liabilities Designate
Financial Liabilities Designated At Fair Value Through Profit Or Loss | 12 Months Ended |
Mar. 31, 2023 | |
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Financial Liabilities Designated At Fair Value Through Profit Or Loss | 18 FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS Financial liabilities designated at fair value through profit or loss at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Borrowings ¥ 113,262 ¥ 72,470 Debt securities in issue 300,844 383,264 Total financial liabilities designated at fair value through profit or loss ¥ 414,106 ¥ 455,734 The Group applies a fair value option to certain financial liabilities which were issued by the Group’s securities subsidiary. As part of risk management, the Group enters into derivative transactions to offset the profit or loss of financial liabilities containing embedded derivatives, designated at fair value through profit or loss (“FVPL”) under the fair value option. The carrying amounts of those financial liabilities at March 31, 2023 and March 31, 2022 were ¥51,684 million less and ¥53,814 million less than the contractual amounts required to be paid at maturity, respectively. The cumulative profits arising from changes in own credit risk of those financial liabilities were increased by ¥12,847 million from ¥748 million at March 31, 2022 to ¥13,595 million at March 31, 2023. |
Borrowings
Borrowings | 12 Months Ended |
Mar. 31, 2023 | |
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Borrowings | 19 BORROWINGS Borrowings at March 31, 2023 and 2022 At March 31, 2023 2022 (In millions) Unsubordinated borrowings ¥ 13,532,217 ¥ 18,766,117 Subordinated borrowings 186,218 234,680 Liabilities associated with securitization transactions 1,236,369 1,200,147 Lease liabilities 416,997 383,707 Total borrowings ¥ 15,371,801 ¥ 20,584,651 |
Debt Securities in Issue
Debt Securities in Issue | 12 Months Ended |
Mar. 31, 2023 | |
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Debt Securities in Issue | 20 DEBT SECURITIES IN ISSUE Debt securities in issue at March 31, 2023 and 2022 consisted of the following: At March 31, Interest rate 2023 2022 (In millions) SMFG: Unsubordinated bonds: Unsubordinated bonds, payable in United States dollars, 0.05%-5.77% ¥ 5,741,299 ¥ 5,325,808 Unsubordinated bonds, payable in euros, 0.00%-1.72% 721,701 825,503 Unsubordinated bonds, payable in Japanese yen, 0.86%-1.47% 120,984 — Unsubordinated bonds, payable in Australian dollars, 1.32%-4.60% 104,673 177,013 Unsubordinated bonds, payable in Hong Kong dollars, 3.54% 4,833 4,638 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 0.47%-1.67% 571,671 471,753 Subordinated bonds, payable in United States dollars, 2.14%-4.44% 462,082 451,272 Total SMFG 7,727,243 7,255,987 SMBC: Commercial paper (0.57%)-5.40% 1,292,198 1,229,180 Unsubordinated bonds: Unsubordinated bonds, payable in United States dollars, 3.00%-5.99% 437,393 542,129 Unsubordinated bonds, payable in euros, 2.75% 72,101 68,124 Unsubordinated bonds, payable in Australian dollars, 2.90%-4.79% 15,109 12,048 Unsubordinated bonds, payable in Hong Kong dollars, 2.92% 12,423 11,672 Unsubordinated bonds, payable in Chinese yuan, 3.20% 19,416 19,239 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 2.17%-2.21% 59,997 59,996 Total SMBC 1,908,637 1,942,388 Other subsidiaries: Commercial paper (0.01%)-5.59% 1,293,691 1,195,399 Unsubordinated bonds: Unsubordinated bonds, payable in Japanese yen, 0.01%-14.15% 140,582 165,051 Unsubordinated bonds, payable in United States dollars, 0.01%-4.00% 148,425 205,438 Unsubordinated bonds, payable in euros, 0.01%-3.60% 583,083 444,969 Unsubordinated bonds, payable in Indonesian rupiah, 7.55%-7.75% 1,782 8,474 Unsubordinated bonds, payable in Australian dollars, 0.01%-0.75% 380 532 Unsubordinated bonds, payable in Turkish lira, 0.01%-15.00% 177 822 Unsubordinated bonds, payable in Chinese yuan, -2023 0.00% 18,629 62,982 Unsubordinated bonds, payable in Indian rupee, 5.50%-11.40% 142,365 126,395 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 4.00%-4.15% 20,000 20,000 Total other subsidiaries 2,349,114 2,230,062 Total debt securities in issue ¥ 11,984,994 ¥ 11,428,437 Interest rates represent the contractual interest rates that were applied at March 31, 2023 and 2022, and thus do not represent the actual effective interest rates. The following table presents the movement in Subordinated bonds for the fiscal years ended March 31, 2023 and 2022. For the fiscal year ended 2023 2022 (In millions) Subordinated bonds at beginning of period (1) ¥ 1,003,021 ¥ 1,277,362 Cash flows: Proceeds from issuance of subordinated bonds 99,984 95,533 Redemption of subordinated bonds — (382,600 ) Non-cash Foreign exchange translations 43,940 47,143 Others (33,195 ) (34,417 ) Subordinated bonds at end of period (1) ¥ 1,113,750 ¥ 1,003,021 (1) The balances are comprised of subordinated bonds issued by SMFG, SMBC and other subsidiaries. |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2023 | |
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Provisions | 21 PROVISIONS The following table presents movements by class of provisions for the fiscal years ended March 31, 2023 and 2022. Provision for Other provisions Total (In millions) Balance at April 1, 2021 ¥ 141,201 ¥ 83,073 ¥ 224,274 Additional provisions 32,000 20,725 52,725 Amounts used (37,674 ) (10,648 ) (48,322 ) Unused amounts reversed — (655 ) (655 ) Amortization of discount and effect of change in discount rate (404 ) 145 (259 ) Others — 21 21 Balance at March 31, 2022 135,123 92,661 227,784 Additional provisions 29,000 34,141 63,141 Amounts used (35,707 ) (7,794 ) (43,501 ) Unused amounts reversed — (90 ) (90 ) Amortization of discount and effect of change in discount rate (182 ) 141 (41 ) Others — 51 51 Balance at March 31, 2023 ¥ 128,234 ¥ 119,110 ¥ 247,344 Provision for Interest Repayment Japan has two laws restricting interest rates on loans. The Interest Rate Restriction Act sets the maximum interest rates on loans ranging from 15% to 20%. The Act Regulating the Receipt of Contributions, Receipt of Deposits and Interest Rates capped the interest rate on loans at 29.2% up to June 2010. Interest rates on loans greater than the range of 15-20% In January 2006, judicial decisions strictly interpreted the conditions under which consumer finance companies may retain gray zone interest. As a result, claims for refunds of gray zone interest have increased, and consumer lending and credit card companies have recorded a provision for claims for refunds of gray zone interest. In December 2006, the Government of Japan made amendments to laws regulating money lenders to implement regulatory reforms affecting the consumer finance industry. As a result, in June 2010, the maximum legal interest rates on loans were reduced to the range of 15-20%, The provision for interest repayment is calculated by estimating the future claims for the refund of gray zone interest, taking into account historical experience such as the number of customer claims for a refund, the amount of repayments and the characteristics of customers, and the length of the period during which claims are expected to be received in the future. Of these historical experiences, the number of customer claims for the refund has a significant effect on the amount of the provision, and the historical number of customer claims to the Group was 85 thousand, 91 thousand and 89 thousand for the fiscal years ended March 31, 2023, 2022 and 2021, respectively. The timing of the settlement of these claims is uncertain. The decrease in the provision for interest repayment for the fiscal year ended March 31, 2023 was primarily due to the use of the provision during the year, which was partially offset by additional provisions as a result of the estimation of the future claims for the refund. Other Provisions Other provisions include asset retirement obligations and provisions for loan commitments, reimbursement of deposits, point programs and litigation claims. Most of these provisions occurred in the normal course of business and none of them were individually significant at March 31, 2023 and 2022. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
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Other Liabilities | 22 OTHER LIABILITIES Other liabilities at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Accrued expenses ¥ 569,480 ¥ 365,367 Unearned income 64,821 86,519 Financial guarantees and other credit-related contingent liabilities 41,234 37,241 Due to trust account 1,696,286 1,814,781 Payables to brokers, dealers and customers for securities transactions 1,377,908 1,528,716 Payables related to credit card services 1,068,315 885,022 Obligations from factoring transactions 385,642 482,346 Retirement benefit liabilities 37,021 44,622 Guarantee deposits and derivative cash collateral 1,489,987 727,668 Others 1,972,719 2,414,492 Total other liabilities ¥ 8,703,413 ¥ 8,386,774 |
Deferred Income Tax
Deferred Income Tax | 12 Months Ended |
Mar. 31, 2023 | |
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Deferred Income Tax | 23 DEFERRED INCOME TAX The changes of net deferred tax assets and liabilities for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ (200,299 ) ¥ (370,577 ) Deferred tax benefit (expense) (141,365 ) 29,453 Deferred tax relating to other comprehensive income: Remeasurements of defined benefit plans reserve (2,288 ) (10,027 ) Financial instruments at fair value through other comprehensive income reserve 92,181 135,022 Own credit on financial liabilities designated at fair value through profit or loss reserve (3,934 ) (1,754 ) Exchange differences on translating foreign operations reserve 860 (8,934 ) Acquisition and disposal of subsidiaries and businesses — 12,825 Exchange differences and others 4,725 13,693 At end of period ¥ (250,120 ) ¥ (200,299 ) The deferred tax assets and liabilities at March 31, 2023 and 2022 were attributable to the following items: At March 31, 2023 2022 (In millions) Deferred tax assets: Loans and advances ¥ 429,848 ¥ 451,720 Tax losses carried forward 87,951 76,223 Provision for interest repayment 35,963 37,826 Investment securities 27,207 16,811 Retirement benefits 9,494 12,081 Other deductible temporary differences 142,889 137,170 Total deferred tax assets 733,352 731,831 Deferred tax liabilities: Investment securities 547,661 637,052 Derivative financial instruments 122,161 6,536 Property, plant and equipment 91,789 66,521 Retirement benefits 80,801 81,051 Goodwill and intangible assets 22,700 55,948 Lease transactions 6,840 6,509 Other taxable temporary differences 111,520 78,513 Total deferred tax liabilities 983,472 932,130 Net deferred tax assets (liabilities) (1) ¥ (250,120 ) ¥ (200,299 ) (1) Deferred tax assets and deferred tax liabilities are offset in the consolidated statements of financial position if the entity has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the same taxable entity. The Company has adopted the group aggregation system in Japan from the fiscal year beginning April 1, 2022, resulting from an amendment to the Corporation Tax Act, which revised the consolidated corporate-tax system and shifted to the group aggregation system. Under the group aggregation system, each company consisting of the parent company and its wholly owned domestic subsidiaries (an “aggregation group”) individually files its own tax return (rather than a consolidated tax return), while aggregating the taxable profits or losses on an aggregation group basis largely in the same manner as the consolidated corporate-tax Until the fiscal years ended March 31, 2022, the Company had adopted the consolidated corporate-tax corporate-tax The deferred tax assets of the Company and its wholly owned domestic subsidiaries, which adopted the group aggregation system, consisted mainly of those for loans and advances. The deferred tax assets for loans and advances were generally related to the accumulated losses from the impairment of these assets which would be deductible for tax purposes in future periods. The Company and its wholly owned domestic subsidiaries consider that most of the deductible temporary differences will be able to be used based mainly on future taxable profits on a consolidated basis. The future taxable profits are estimated based on forecasted results of operations, which reflect historical financial performance and the business plans that management believes to be prudent and feasible. In the Company’s other subsidiaries, deferred tax assets relating to deductible temporary differences are recognized only to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences can be utilized. No deferred tax assets were recognized in certain subsidiaries of the Company for the deductible temporary differences estimated not to be realized, or for the tax losses carried forward projected to expire due to the uncertainty of sufficient future taxable profit. The following table shows the amounts of deductible temporary differences and tax losses carried forward by expiration date at March 31, 2023 and 2022 for which no deferred tax assets were recognized. At March 31, 2023 2022 (In millions) Deductible temporary differences ¥ 286,126 ¥ 269,907 Tax losses carried forward which will expire in 1 year 18,345 37,370 2 years 19,518 37,697 3 years 14,944 23,076 4 years 51,766 14,971 5 years 4,347 60,240 6 years 137,196 — 7 years 46,489 137,196 8 years 41,879 46,498 9 years 40,620 41,997 10 years and thereafter 42,003 48,462 Total deductible temporary differences and tax losses carried forward (1) ¥ 703,233 ¥ 717,414 (1) Under the group aggregation system and the consolidated corporate-tax system, the Company and its wholly owned domestic subsidiaries recognized deferred tax assets relating to deductible temporary differences and tax losses carried forward on a consolidated basis for Japanese national corporation tax purposes and on a stand-alone basis for Japanese local corporation tax purposes. There are deductible temporary differences and tax losses carried forward on which deferred tax assets are recognized for Japanese national corporation tax purposes, but on which no deferred tax assets are recognized for Japanese local corporation tax purposes. These deductible temporary differences and tax losses carried forward amounted to ¥243,822 million and ¥268,407 million at March 31, 2023 and 2022, respectively. In addition to the above table, the Group does not recognize deferred tax assets for deductible temporary differences related to investments in subsidiaries, associates and joint ventures where the Company has no intention to reverse these differences in the foreseeable future. The amount of those deductible temporary differences was ¥416 billion and ¥833 billion at March 31, 2023 and 2022, respectively. At March 31, 2023 and 2022, the taxable temporary differences associated with investments in subsidiaries, associates and joint ventures for which deferred tax liabilities had not been recognized amounted to ¥4,171 billion and ¥3,307 billion, respectively. The Company can control the timing of reversal of the temporary differences and it is probable that they will not be reversed in the foreseeable future. Deferred tax benefit and expense for the fiscal years ended March 31, 2023 and 2022 were attributable to the following temporary differences and tax losses carried forward: For the fiscal year ended 2023 2022 (In millions) Derivative financial instruments ¥ (108,466 ) ¥ (51,209 ) Goodwill and intangible assets 33,248 5,583 Loans and advances (32,339 ) 43,680 Property, plant and equipment (8,304 ) 14,706 Investment securities 7,708 25,869 Tax losses carried forward 2,861 6,576 Provision for interest repayment (1,862 ) (1,561 ) Lease transactions 539 1,602 Retirement benefits 125 7,896 Other temporary differences—net (34,875 ) (23,689 ) Total deferred tax benefit (expense) ¥ (141,365 ) ¥ 29,453 |
Retirement Benefits
Retirement Benefits | 12 Months Ended |
Mar. 31, 2023 | |
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Retirement Benefits | 24 RETIREMENT BENEFITS Defined Benefit Plans SMBC and some of the Company’s other subsidiaries have various defined benefit plans such as defined benefit pension plans and lump-sum SMBC’s defined benefit plans account for the vast majority of the defined benefit obligations and plan assets in the Group. SMBC has a corporate defined benefit pension plan and a lump-sum Defined benefit pension plans SMBC’s corporate defined benefit pension plan is a funded defined benefit pension plan, which is regulated by the Corporate Defined Benefit Pension Plan Law, one of the Japanese pension laws. Benefits are paid in exchange for services rendered by employees who worked for more than a specified period considering their years of service and the degree of their contribution to SMBC. SMBC’s pension fund is a special entity established in accordance with the pension laws, and SMBC has an obligation to make contributions to it. It has a board of directors which consists of an equal number of members elected from both the management and employees of SMBC. These board members have a fiduciary duty to administer and manage the pension fund. The objective of SMBC’s pension fund is to earn a return over the long term which is sufficient to pay future benefits to participants of the corporate defined benefit pension plan, including pension benefit plans, lump-sum The Corporate Defined Benefit Pension Plan Law requires a pension fund to review the assumptions and remeasure the required contribution at least every fifth fiscal year, in order to ensure that it maintains sufficient assets for future benefit payments. On the other hand, the present value of the defined benefit obligation is calculated annually based on actuarial valuations that are dependent upon a number of assumptions, including discount rates, mortality rates and future salary (benefit) increases, in accordance with IAS 19 “Employee Benefits.” Other types of defined benefit pension plans operated by the Group are generally established and operated in the same manner as described above. Lump-sum SMBC and some of the Company’s other subsidiaries have lump-sum lump-sum SMBC and a number of the Company’s other subsidiaries in Japan established retirement benefit trusts and contributed some of their marketable securities to these trusts in order to isolate these assets for retirement benefits by entering into contracts with trust banks. Retirement benefit trusts are voluntary funds that are used either to contribute assets to the pension funds or to directly settle retirement benefits. Among the Group, retirement benefit trusts are set up for the defined benefit pension plans, as well as for the lump-sum The assets belonging to the retirement benefit trusts are available to be used only to pay or fund retirement benefits, and practically held by an entity that is legally separated from the Group. Therefore, they are not available to the Group’s creditors even in bankruptcy and cannot be returned to the Group, unless either the remaining assets are sufficient to meet all the related obligations or the entities (funds) reimburse to the Group the retirement benefits which are already paid by the Group. Therefore, these assets are accounted for as plan assets. The following tables provide detailed information for the defined benefit plans. The amounts of the retirement benefit liabilities and the retirement benefit assets recognized in the consolidated statements of financial position at March 31, 2023 and 2022 were determined as follows: At March 31, 2023 2022 (In millions) Present value of unfunded obligations ¥ (32,531 ) ¥ (32,948 ) Present value of funded obligations (995,908 ) (1,083,182 ) Fair value of plan assets 1,663,637 1,642,554 Net retirement benefit assets (liabilities) before the asset ceiling ¥ 635,198 ¥ 526,424 Effect of the asset ceiling 110,075 17,928 Net retirement benefit assets (liabilities) ¥ 525,123 ¥ 508,496 Of which retirement benefit liabilities included in “Other liabilities” ¥ (37,021 ) ¥ (44,622 ) Of which retirement benefit assets included in “Other assets” ¥ 562,144 ¥ 553,118 The movements in the defined benefit obligations for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 1,116,130 ¥ 1,147,057 Current service cost 30,761 30,658 Interest cost 8,782 7,077 Actuarial losses (gains)—demographic assumptions (465 ) (689 ) Actuarial losses (gains)—financial assumptions (61,402 ) (30,384 ) Actuarial losses (gains)—experience 517 10,780 Benefits paid (43,135 ) (42,272 ) Lump-sum (16,004 ) (15,099 ) Past service cost (4,077 ) 7,175 Others (2,668 ) 1,827 At end of period ¥ 1,028,439 ¥ 1,116,130 The movements in the fair value of plan assets for the fiscal ye a For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 1,642,554 ¥ 1,627,110 Interest income 12,760 9,920 Return on plan assets excluding interest income 38,081 30,716 Contributions by employer 12,775 12,718 Benefits paid (43,135 ) (42,272 ) Others 602 4,362 At end of period ¥ 1,663,637 ¥ 1,642,554 The movements in the effect of the asset ceiling for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 17,928 ¥ — Interest cost 133 — Change in the asset ceiling 92,014 17,928 At end of period ¥ 110,075 ¥ 17,928 The amounts recognized in “General and administrative expenses” in the consolidated income statements for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Current service cost ¥ 30,761 ¥ 30,658 ¥ 32,099 Net interest cost (3,845 ) (2,843 ) (1,415 ) Past service cost (4,077 ) 7,175 (28,023 ) Total ¥ 22,839 ¥ 34,990 ¥ 2,661 The plan assets at March 31, 2023 and 2022 were composed as follows: At March 31, 2023 2022 Quoted in Other Total Quoted in Other Total (In millions) Plan assets retained in the pension funds: Equity instruments ¥ 195,852 ¥ 131,315 ¥ 327,167 ¥ 223,856 ¥ 134,300 ¥ 358,156 Debt instruments 16,857 214,122 230,979 10,790 212,974 223,764 General account of life insurance companies — 41,595 41,595 222 41,075 41,297 Other investments and short-term assets 42,810 417,427 460,237 38,051 402,958 441,009 Plan assets retained in the retirement benefit trusts: Equity instruments 511,553 2,253 513,806 488,762 2,357 491,119 Other short-term assets 80,668 9,185 89,853 78,318 8,891 87,209 Total ¥ 847,740 ¥ 815,897 ¥ 1,663,637 ¥ 839,999 ¥ 802,555 ¥ 1,642,554 The assets in the pension funds included common stocks issued by the Group at March 31, 2023 and 2022. The amounts of these stocks were not significant. The assets in retirement benefit trusts were primarily composed of Japanese equity instruments. Most of the plan assets held by the Group are invested in Japanese equity and debt instruments. Accordingly, the Group may be exposed to market risk arising from the domestic markets. The Group retained the voting rights of some of these equity instruments with fair values of ¥504,452 million and ¥479,874 million (30.3% and 29.2% of the total fair values of plan assets) at March 31, 2023 and 2022, respectively. The principal actuarial assumptions used at March 31, 2023, 2022 and 2021 were as follows: At March 31, 2023 2022 2021 Discount rates 1.2 % 0.8 % 0.6 % Discount rates are weighted on the basis of the defined benefit obligations. The assumptions for future mortality are based on the official mortality table generally used for actuarial assumptions in Japan. The current average remaining life expectancy of an individual retiring at age 60 was 24 years for males and 29 years for females under the mortality table used at March 31, 2023, 2022 and 2021. The sensitivity analyses of the effect of changes in key assumptions on the defined benefit obligations at March 31, 2023 and 2022 were as follows: At March 31, 2023 2022 Increase/(decrease) Increase/(decrease) (In millions) Discount rates: Increase by 5 0 ¥ (54,832 ) ¥ (61,869 ) Decrease by 5 0 61,585 69,733 Average life expectancy at age 60: Increase of one year ¥ 30,466 ¥ 34,064 Each increase and decrease in the table above assumes that only one assumption is changed, with all other assumptions remaining unchanged. In practice, however, changes in multiple assumptions may occur in a mutually interrelated manner. The weighted average durations of defined benefit plans for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: At March 31, 2023 2022 2021 (Years) Lump-sum 11.3 12.7 12.9 Defined benefit pension plans 15.6 18.4 18.5 Funding Policy for Plan Assets The pension funds review the funding status of plan assets every year. If any funding deficit is identified, a measure to cover such deficit will be implemented, for example, by increasing the amount of contributions by the employer. Expected contribution Expected contributions to the defined benefit plans for the fiscal year ending March 31, 2024 are ¥12,498 million. Defined Contribution Plans SMBC and some of the Company’s other subsidiaries provide defined contribution plans. The amounts recognized as expenses for the defined contribution plans were ¥13,166 million, ¥11,997 million and ¥10,994 million for the fiscal years ended March 31, 2023, 2022 and 2021, respectively, which were included in “General and administrative expenses” in the consolidated income statements. Employees’ Pension Insurance Plan In Japan, the Government of Japan operates the Employees’ Pension Insurance Plan which covers most of the private entities’ employees. The amounts of contributions charged to expense for the Employees’ Pension Insurance Plan were ¥40,330 million, ¥39,263 million and ¥37,692 million for the fiscal years ended March 31, 2023, 2022 and 2021, respectively, which were included in “General and administrative expenses” in the consolidated income statements. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Mar. 31, 2023 | |
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Shareholders' Equity | 25 SHAREHOLDERS’ EQUITY Common Stock The changes in the number of issued shares of common stock and common stock held by the Company or its subsidiaries during the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 Outstanding In treasury Outstanding In treasury Outstanding In treasury At beginning of period 1,374,362,102 3,542,321 1,374,040,061 3,612,302 1,373,171,556 3,645,043 Net change 329,092 26,528,329 322,041 (69,981 ) 868,505 (32,741 ) At end of period 1,374,691,194 30,070,650 1,374,362,102 3,542,321 1,374,040,061 3,612,302 The total number of authorized shares of common stock was 3,000 million at March 31, 2023 and 2022 with no stated value. All issued shares are fully paid. The details of the stock options and the restricted shares outstanding are described in Note 40 “Share-Based Payment.” On November 12, 2021, the Company’s board of directors resolved to repurchase shares of its common stock and cancel all the repurchased shares. The resolution authorized the repurchase of up to the lesser of (i) an aggregate of 33,000,000 shares of its common stock and (ii) an aggregate of ¥100 billion between November 15, 2021 and November 11, 2022. However, its share repurchases were suspended during periods in which it may have been deemed to hold material non-public Simultaneously, the Company announced that the board of directors resolved to repurchase shares of the Company’s common stock and cancel all the repurchased shares. The resolution authorized the repurchase of up to the lesser of (i) an aggregate of 61,000,000 shares of its common stock and (ii) an aggregate of ¥200 billion between November 15, 2022 and May 31, 2023. During the fiscal year ended March 31, 2023, pursuant to the resolution, the Company repurchased 26,619,000 shares of its common stock for ¥139 billion in aggregate. On May 31, 2023, the Company completed the repurchase pursuant to the resolution, acquiring 37,640,000 200 Preferred Stock The following table shows the number of shares of preferred stock at March 31, 2023 and 2022. At March 31, 2023 At March 31, 2022 Authorized Issued Authorized Issued Type 5 preferred stock 167,000 — 167,000 — Type 7 preferred stock 167,000 — 167,000 — Type 8 preferred stock 115,000 — 115,000 — Type 9 preferred stock 115,000 — 115,000 — All the preferred stocks have no stated value. There was no movement in preferred stock during the fiscal years ended March 31, 2023, 2022 and 2021. Capital stock, Capital surplus and Treasury stock “Capital stock” represents share capital under the Companies Act of Japan (“Companies Act”) adjusted by the amount corresponding to the preferred stock which is accounted for as a liability under IFRS. Purchases of treasury stock are recognized at cost in “Treasury stock.” Any additional paid-in Restriction on the Payment of Dividends The amount of the capital surplus and retained earnings of the Company that can be paid out as dividends is subject to restrictions under the Companies Act. These amounts are calculated based on the Company’s nonconsolidated statement of financial position prepared in accordance with Japanese GAAP. Therefore, the adjustments made to prepare the IFRS consolidated financial statements have no impact on the calculation. The total amount that the Company can pay out as a dividend was ¥2,159 billion at March 31, 2023. Other than the restriction by the Companies Act, the Company is required to maintain a risk-weighted capital ratio as per the Banking Act of Japan (“Banking Act”). The detail of the restriction is described in Note 46 “Financial Risk Management.” Therefore, the Company would not be able to pay a dividend if the ratio were to fall below the minimum amount as a result of the payment of the dividends. Since the Company is a holdin g company, its earnings rely mo Other Reserves Remeasurements of defined benefit plans reserve Remeasurements of the defined benefit plans reserve includes the accumulated actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions, and return on plan assets excluding interest income. The movements of remeasurements of the defined benefit plans reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 197,310 ¥ 214,411 ¥ (2,553 ) Gains (losses) arising during the period, before tax 7,417 33,081 327,681 Income tax (expense) benefit for changes arising during the period (2,288 ) (10,027 ) (100,427 ) Amount attributable to non-controlling (9 ) 31 26 Share of other comprehensive income (loss) of associates and joint ventures 33 911 1,096 Transfer from other reserves to retained earnings (42,879 ) (41,097 ) (11,412 ) At end of period ¥ 159,584 ¥ 197,310 ¥ 214,411 Financial instruments at fair value through other comprehensive income reserve The financial instruments at fair value through other comprehensive income (“FVOCI”) reserve includes the accumulated gains and losses of debt instruments measured at FVOCI and equity instruments measured at FVOCI under IFRS 9. The accumulated gains and losses related to debt instruments measured at FVOCI are reclassified to profit or loss when the assets are derecognized or impaired. The accumulated gains and losses related to equity instruments measured at FVOCI are transferred to retained earnings when the assets are derecognized. In addition, when the decline in the fair value of an equity instrument measured at FVOCI is above the threshold to qualify for a tax deduction, the accumulated losses related to the equity instrument are transferred to retained earnings. The movements of the financial instruments at FVOCI reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 1,808,222 ¥ 2,106,255 ¥ 1,500,013 Gains (losses) arising during the period, before tax (264,309 ) (410,631 ) 996,972 Income tax (expense) benefit for changes arising during the period 81,384 125,617 (304,515 ) Reclassification adjustments for (gains) losses included in net profit, before tax 94,803 113,334 (79,711 ) Income tax (expense) benefit for reclassification adjustments (29,040 ) (34,705 ) 24,409 Amount attributable to non-controlling 15 3 4 Share of other comprehensive income (loss) of associates and joint ventures (3,980 ) (1,746 ) 5,751 Transfer from other reserves to retained earnings (111,902 ) (89,905 ) (36,668 ) At end of period ¥ 1,575,193 ¥ 1,808,222 ¥ 2,106,255 Own credit on financial liabilities designated at fair value through profit or loss reserve The own credit on financial liabilities designated at fair value through profit or loss (“FVPL”) reserve includes the accumulated gains and losses arising from changes in fair value that is attributable to changes in own credit risk of financial liabilities designated at FVPL. The movements of own credit on financial liabilities designated at fair value through profit or loss reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 520 ¥ (3,455 ) ¥ — Gains (losses) arising during the period, before tax 12,847 5,729 (4,981 ) Income tax (expense) benefit for changes arising during the period (3,934 ) (1,754 ) 1,526 At end of period ¥ 9,433 ¥ 520 ¥ (3,455 ) Exchange differences on translating foreign operations reserve Exchange differences on translating foreign operations reserve includes foreign exchange differences arising from the translation of the net assets of foreign operations from their functional currencies to the Group’s presentation currency, Japanese yen. The movements of exchange differences on translating the foreign operations reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 540,242 ¥ 113,646 ¥ 28,260 Gains (losses) arising during the period, before tax 304,252 404,292 86,842 Income tax (expense) benefit for changes arising during the period 2,509 (8,875 ) (3,784 ) Reclassification adjustments for (gains) losses included in net profit, before tax 5,385 192 446 Income tax (expense) benefit for reclassification adjustments (1,649 ) (59 ) (137 ) Amount attributable to non-controlling (311 ) (1,624 ) (469 ) Share of other comprehensive income (loss) of associates and joint ventures 34,362 32,670 2,488 At end of period ¥ 884,790 ¥ 540,242 ¥ 113,646 |
Equity Attributable To Other Eq
Equity Attributable To Other Equity Instruments Holders | 12 Months Ended |
Mar. 31, 2023 | |
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Equity Attributable To Other Equity Instruments Holders | 26 EQUITY ATTRIBUTABLE TO OTHER EQUITY INSTRUMENTS HOLDERS Equity attributable to other equity instruments holders at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Perpetual subordinated bonds ¥ 755,802 ¥ 733,611 Perpetual subordinated borrowings ¥ 10,000 — Total equity attributable to other equity instruments holders ¥ 765,802 ¥ 733,611 SMFG issued perpetual subordinated bonds and perpetual subordinated borrowings, which are Basel III-compliant The bonds and borrowings bear a fixed rate of interest until the first call date. After the first call date, they will bear a floating rate of interest unless they are redeemed. SMFG may at any time and in its sole discretion, elect to cancel any interest payment. If cancelled, interest payments are non-cumulative These bonds and borrowings are undated, have no final maturity date and may be redeemed at SMFG’s option, in whole, but not in part, on the first call date or any interest payment dates thereafter subject to prior confirmation of the Financial Services Agency of Japan (“FSA”). The principal amount of the bonds and borrowings may be written down upon the occurrence of certain trigger events. For example, if the Common Equity Tier 1 capital ratio falls below 5.125% (“Capital Ratio Event”), the principal amount required to fully restore the Common Equity Tier 1 capital ratio above 5.125% will be written down. The principal amount of the bonds and borrowings which has been written down due to a Capital Ratio Event may be reinstated at SMFG’s option, subject to prior confirmation of the FSA that the Common Equity Tier 1 capital ratio remains at a sufficiently high level after giving effect to such reinstatement. |
Net Interest Income
Net Interest Income | 12 Months Ended |
Mar. 31, 2023 | |
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Net Interest Income | 27 NET INTEREST INCOME Net interest income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Interest income from: Deposits with banks ¥ 309,704 ¥ 20,044 ¥ 17,411 Call loans and bills bought 75,923 13,898 11,091 Reverse repurchase agreements and cash collateral on securities borrowed 54,693 6,633 14,148 Investment securities 218,011 123,194 126,639 Loans and advances 3,037,745 1,583,885 1,611,081 Total interest income 3,696,076 1,747,654 1,780,370 Interest expense from: Deposits 1,068,750 101,991 179,910 Call money and bills sold 18,246 1,259 1,755 Repurchase agreements and cash collateral on securities lent 280,945 5,767 7,131 Borrowings 126,122 49,282 62,624 Debt securities in issue 373,313 106,505 109,205 Premiums for deposit insurance 22,915 37,970 35,813 Others 50,715 942 807 Total interest expense 1,941,006 303,716 397,245 Net interest income ¥ 1,755,070 ¥ 1,443,938 ¥ 1,383,125 |
Net Fee and Commission Income
Net Fee and Commission Income | 12 Months Ended |
Mar. 31, 2023 | |
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Net Fee and Commission Income | 28 NET FEE AND COMMISSION INCOME Net fee and commission income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Fee and commission income from: Loans ¥ 145,078 ¥ 128,583 ¥ 132,523 Credit card business 380,345 333,109 304,787 Guarantees 71,612 66,199 64,422 Securities-related business 119,403 169,719 169,251 Deposits 18,230 16,302 14,763 Remittances and transfers 146,507 139,122 138,907 Safe deposits 4,228 4,025 4,160 Trust fees 6,753 5,940 4,885 Investment trusts 144,940 183,164 163,522 Agency 9,368 8,854 8,442 Others 216,270 193,208 168,720 Total fee and commission income 1,262,734 1,248,225 1,174,382 Fee and commission expense from: Remittances and transfers 28,885 32,604 39,417 Others 194,035 177,158 162,306 Total fee and commission expense 222,920 209,762 201,723 Net fee and commission income ¥ 1,039,814 ¥ 1,038,463 ¥ 972,659 Fee and commission income can be mainly disaggregated into loans, credit card business, securities-related business, remittances and transfers and investment trusts by types of services. Loan transaction fees principally arise in the Wholesale Business Unit and the Global Business Unit. Fees obtained through credit card business principally arise in the Retail Business Unit. Fees obtained through securities-related business principally arise in the Wholesale Business Unit, the Retail Business Unit and the Global Business Unit. Remittance and transfer fees principally arise in the Wholesale Business Unit, the Retail Business Unit and the Global Business Unit. Fees and commissions obtained through investment trusts principally arise in the Retail Business Unit and Head office account and others, which include the investment advisory and investment trust management businesses. |
Net Trading Income
Net Trading Income | 12 Months Ended |
Mar. 31, 2023 | |
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Net Trading Income | 29 NET TRADING INCOME Net trading income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Interest rate ¥ 351,815 ¥ 74,828 ¥ 38,987 Foreign exchange 317,203 186,146 168,462 Equity (40,691 ) 22,216 34,772 Credit (3,902 ) (1,812 ) (4,723 ) Others 1,618 (1,039 ) 248 Total net trading income ¥ 626,043 ¥ 280,339 ¥ 237,746 Net trading income is presented primarily by instrument type. It includes income and losses from trading assets and liabilities, and derivative financial instr uments. |
Net Income From Financial Asset
Net Income From Financial Assets And Liabilities At Fair Value Through Profit Or Loss | 12 Months Ended |
Mar. 31, 2023 | |
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Net Income From Financial Assets And Liabilities At Fair Value Through Profit Or Loss | 30 NET INCOME FROM FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS Net income from financial assets and liabilities at fair value through profit or loss for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Net income from financial assets mandatorily at fair value through profit or loss: Net income from debt instruments ¥ 115,291 ¥ 156,792 ¥ 262,396 Net income from equity instruments 1,439 5,025 23,687 Net income (loss) from financial liabilities designated at fair value through profit or loss 56,581 38,432 (6,071 ) Total net income from financial assets and liabilities at fair value through profit or loss ¥ 173,311 ¥ 200,249 ¥ 280,012 |
Net Investment Income
Net Investment Income | 12 Months Ended |
Mar. 31, 2023 | |
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Net Investment Income | 31 NET INVESTMENT INCOME Net investment income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Net gain (loss) from disposal of debt instruments ¥ (89,150 ) ¥ (29,546 ) ¥ 79,711 Dividend income 104,761 95,290 74,109 Total net investment income ¥ 15,611 ¥ 65,744 ¥ 153,820 Dividend income from equity instruments at fair value through other comprehensive income which were derecognized during the fiscal years ended March 31, 2023, 2022 and 2021 were ¥1,150 million, ¥1,805 million and ¥1,027 million, respectively. |
Other Income
Other Income | 12 Months Ended |
Mar. 31, 2023 | |
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Other Income | 32 OTHER INCOME Other income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income from operating leases ¥ 39,654 ¥ 32,733 ¥ 34,426 Income related to disposal of assets leased — 29 1,233 Income related to IT solution services 11,889 11,428 12,836 Gains on disposal of property, plant and equipment, and other intangible assets 3,326 1,708 3,035 Reversal of impairment losses of investments in associates and joint ventures 22,915 2,059 9,930 Gains on step acquisition of subsidiaries — — 405 Others 103,043 60,770 76,358 Total other income ¥ 180,827 ¥ 108,727 ¥ 138,223 |
Impairment Charges on Financial
Impairment Charges on Financial Assets | 12 Months Ended |
Mar. 31, 2023 | |
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Impairment Charges on Financial Assets | 33 IMPAIRMENT CHARGES ON FINANCIAL ASSETS Impairment charges (reversals) on financial assets for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Loans and advances ¥ 138,176 ¥ 269,060 ¥ 277,085 Loan commitments 8,016 9,555 12,729 Financial guarantees 2,272 1,363 (7,328 ) Total impairment charges on financial assets ¥ 148,464 ¥ 279,978 ¥ 282,486 |
General and Administrative Expe
General and Administrative Expenses | 12 Months Ended |
Mar. 31, 2023 | |
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General and Administrative Expenses | 34 GENERAL AND ADMINISTRATIVE EXPENSES General and administrative expenses for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Personnel expenses ¥ 922,452 ¥ 834,512 ¥ 770,769 Depreciation and amortization 262,702 264,290 255,702 Building and maintenance expenses 7,847 9,979 8,593 Supplies expenses 14,571 15,468 15,191 Communication expenses 31,182 32,839 33,454 Publicity and advertising expenses 143,500 126,090 89,924 Taxes and dues 84,020 82,293 83,554 Outsourcing expenses 123,293 115,157 111,737 Office equipment expenses 70,151 61,503 56,389 Others 305,699 259,490 253,802 Total general and administrative expenses ¥ 1,965,417 ¥ 1,801,621 ¥ 1,679,115 |
Other Expenses
Other Expenses | 12 Months Ended |
Mar. 31, 2023 | |
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Other Expenses | 35 OTHER EXPENSES Other expenses for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Cost of operating leases ¥ 30,281 ¥ 22,922 ¥ 23,225 Cost related to disposal of assets leased 3,212 301 — Cost related to IT solution services and IT systems 94,071 89,762 84,691 Provision for interest repayment 28,818 31,596 38,344 Losses on disposal of property, plant and equipment, and other intangible assets 6,377 3,856 3,725 Impairment losses of property, plant and equipment 31,617 43,708 10,959 Impairment losses of intangible assets 135,519 55,816 42,846 Losses on sales of investments in subsidiaries and associates 8,216 — 680 Impairment losses of investments in associates and joint ventures (1) 56,461 42,460 12,537 Others 107,775 78,138 66,872 Total other expenses ¥ 502,347 ¥ 368,559 ¥ 283,879 (1) For the fiscal years ended March 31, 2023, 2022 and 2021, the Group recognized an impairment loss of ¥33,932 million, ¥42,218 million and ¥10,391 million, respectively, on investments in associates and joint ventures, due to the decline in the stock price of its equity-method associate, The Bank of East Asia, Limited. |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Mar. 31, 2023 | |
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Income Tax Expense | 36 INCOME TAX EXPENSE The detail of income tax expense for the fiscal years ended March 31, 2023, 2022 and 2021 was as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Current tax: Charge for period (1) ¥ 184,662 ¥ 190,842 ¥ 207,742 Deferred tax: Origination and reversal of temporary differences 146,130 (25,248 ) 48,295 Change in the write-down of deferred tax assets on the current fiscal year income tax expense (4,765 ) (4,205 ) (4,635 ) Total deferred tax expense (benefit) 141,365 (29,453 ) 43,660 Total income tax expense ¥ 326,027 ¥ 161,389 ¥ 251,402 (1) As a result of the adoption of IFRS 9, the current income tax expenses of ¥39,837 million, ¥44,110 million and ¥13,851 million were recognized directly in equity for the fiscal years ended March 31, 2023, 2022 and 2021, respectively. The following table shows the reconciliations of the effective income tax rates for the fiscal years ended March 31, 2023, 2022 and 2021. For the fiscal year ended March 31, 2023 2022 2021 (In millions, except percentages) Profit before tax ¥ 1,261,876 ¥ 676,464 ¥ 956,478 Income tax expense 326,027 161,389 251,402 Effective income tax rate 25.8 % 23.9 % 26.3 % Effective statutory tax rate in Japan (1) 30.6 % 30.6 % 30.6 % Tax impact of share of post-tax profit in associates and joint ventures (2.1 %) 0.5 % (1.2 %) Non-Japanese earnings (1.3 %) (2.2 %) (1.6 %) Tax impact of impairment losses of goodwill 0.9 % — 1.4 % Tax impact of impairment losses and reversal of impairment losses for investments in associates and joint ventures—net 0.8 % (4.5 %) 0.1 % Nontaxable dividends received (0.8 %) (1.3 %) (0.7 %) Effect of the change in the write-down of deferred tax assets on the current fiscal year income tax expense (0.4 %) (0.6 %) (0.5 %) Others—net (1.9 % ) 1.4 % (1.8 %) Effective income tax rate 25.8 % 23.9 % 26.3 % (1) The effective statutory tax rate in Japan for the fiscal year ended March 31, 2023 , |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Mar. 31, 2023 | |
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Earnings Per Share | 37 EARNINGS PER SHARE The following table shows the income and share data used in the basic and diluted earnings per share calculations for the fiscal years ended March 31, 2023, 2022 and 2021. For the fiscal year ended March 31, 2023 2022 2021 (In millions, except number of shares and Basic: Profit attributable to shareholders of the Company ¥ 911,831 ¥ 499,573 ¥ 687,483 Weighted average number of common stock in issue (in thousands of shares) 1,364,770 1,370,738 1,370,214 Basic earnings per share ¥ 668.12 ¥ 364.46 ¥ 501.73 Diluted: Profit attributable to the common shareholders of the Company ¥ 911,831 ¥ 499,573 ¥ 687,483 Impact of dilutive potential ordinary shares issued by subsidiaries — — — Net profit used to determine diluted earnings per share ¥ 911,831 ¥ 499,573 ¥ 687,483 Weighted average number of common stock in issue (in thousands of shares) 1,364,770 1,370,738 1,370,214 Adjustments for stock options (in thousands of shares) 463 561 658 Weighted average number of common stock for diluted earnings per share (in thousands of shares) 1,365,233 1,371,299 1,370,872 Diluted earnings per share ¥ 667.89 ¥ 364.31 ¥ 501.49 |
Transfers of Financial Assets
Transfers of Financial Assets | 12 Months Ended |
Mar. 31, 2023 | |
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Transfers of Financial Assets | 38 TRANSFERS OF FINANCIAL ASSETS In the normal course of business, the Group transfers financial assets mainly through repurchase agreements, securities lending transactions and securitizations. Depending on the nature of the transactions, the transfers may either result in financial assets being derecognized or continuing to be recognized on the consolidated statements of financial position. Full derecognition occurs when the Group transfers its contractual rights to receive cash flows from financial assets, or retains the contractual rights to receive the cash flows, but assumes a contractual obligation to pay the cash flows to another party, and transfers substantially all the risks and rewards of ownership, including credit risk, prepayment risk and interest rate risk. Derecognition does not occur when the Group retains substantially all the risks and rewards of ownership of the financial assets, where the contractual rights to receive cash flows from the financial assets are transferred, or the rights are retained but obligations to pay the cash flows are assumed. The following tables show the carrying amounts and fair values of transferred financial assets that did not qualify for derecognition and their associated financial liabilities at March 31, 2023 and 2022: At March 31, 2023 Repurchase Loans and advances Residential Corporate (In millions) Carrying amount of assets ¥ 14,250,991 ¥ 1,539,886 ¥ 938,289 Carrying amount of associated liabilities 11,094,932 1,208,993 873,240 For those liabilities that have recourse only Fair value of assets ¥ — ¥ 1,629,544 ¥ 942,644 Fair value of associated liabilities — 1,205,124 873,240 Net position ¥ — ¥ 424,420 ¥ 69,404 At March 31, 2022 Repurchase Loans and advances Residential Corporate (In millions) Carrying amount of assets ¥ 13,217,653 ¥ 1,517,316 ¥ 874,174 Carrying amount of associated liabilities 10,842,730 1,196,264 807,532 For those liabilities that have recourse only Fair value of assets ¥ — ¥ 1,696,689 ¥ 877,258 Fair value of associated liabilities — 1,241,195 807,532 Net position ¥ — ¥ 455,494 ¥ 69,726 Repurchase Agreements The Group lends or sells securities under agreements to repurchase Loans and Advances The Group transfers its loans and advances, including residential mortgages and corporate loans, mainly to bankruptcy-remote structured entities for securitizations whereby the structured entities issue debt securities to the Group for subordinated tranches and to investors for senior tranches. The investors have only recourse to the underlying financial assets due to their bankruptcy-remoteness. Since the Group retains substantially all the risks and rewards of ownership, the transferred financial assets do not qualify for derecognition. The Group therefore continues to recognize these transferred financial assets as loans and advances, and recognizes their associated financial liabilities arising from issuing debt securities to investors on the consolidated statements of financial position. |
Assets Pledged and Received as
Assets Pledged and Received as Collateral | 12 Months Ended |
Mar. 31, 2023 | |
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Assets Pledged and Received as Collateral | 39 ASSETS PLEDGED AND RECEIVED AS COLLATERAL Assets Pledged The carrying amounts of assets pledged as collateral at March 31, 2023 and 2022 were as follows: At March 31, 2023 2022 (In millions) Cash and deposits with banks ¥ 28,436 ¥ 201,859 Trading assets 2,631,213 2,333,497 Debt instruments at amortized cost 94,849 22,300 Debt instruments at fair value through other comprehensive income 17,817,319 22,873,692 Equity instruments at fair value through other comprehensive income 4,512 5,334 Loans and advances 12,502,342 11,223,871 Other s 3,291,524 2,960,376 Total ¥ 36,370,195 ¥ 39,620,929 The Group pledges assets as collateral to secure payables under repurchase agreements, securities lending transactions and securitizations, borrowings or for cash settlements, margins on derivative transactions and certain other purposes. These transactions are conducted under terms that are usual and customary to standard contracts. Loaned securities for which the borrowers have the right to sell or repledge were ¥14,260,889 million and ¥13,243,816 million at March 31, 2023 and 2022, respectively. For the reserve funds with the Bank of Japan and other reserve deposits for foreign offices maintained by the Group, refer to Note 5 “Cash and Deposits with Banks.” Assets Received as Collateral Under certain transactions, including reverse repurchase agreements, securities borrowing, and discounting of bills, the Group is permitted to resell or repledge the collateral held in the absence of default by the owner of the collateral. These transactions are conducted under terms that are usual and customary for standard contracts. The fair values of securities and bills accepted as collateral were ¥16,259,185 million and ¥16,777,657 million at March 31, 2023 and 2022, respectively. As to the securities received in the reverse repurchase agreements and securities borrowing transactions, the Group has the obligation to return equivalent securities upon completion of the transactions. The fair values of securities sold or repledged to others were ¥10,932,766 million and ¥12,023,020 million at March 31, 2023 and 2022, respectively. |
Share-based Payment
Share-based Payment | 12 Months Ended |
Mar. 31, 2023 | |
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Share-based Payment | 40 SHARE-BASED PAYMENT Stock Option Plans SMFG had introduced compensation-type stock options to directors, corporate auditors, and executive officers of SMFG and SMBC (“SMFG Stock Acquisition Rights”), which served as an incentive for them to further contribute to the equity appreciation and achieve better corporate performance through sharing the benefits and risks of the share price performance with the shareholders. The following table provides an overview of the significant terms and conditions of the stock option plan. Title of grantees Exercise period Requisite service period Method of settlement SMFG Stock Acquisition Rights Directors, corporate auditors and executive officers of SMFG and SMBC Not exceeding 30 years from the date of allocation of stock acquisition rights (1) One year from the date of the ordinary general meeting of shareholders of SMFG to the closing of the next ordinary general meeting of shareholders of SMFG Common stock of SMFG (1) A stock acquisition rights holder can exercise the rights from the day they are relieved of their positions either as a director, a corporate auditor or an executive officer (“Start of Exercise Date”) to 20 years from the Start of Exercise Date. The number and the weighted average exercise prices of stock options for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended March 31, 2023 2022 Number of (1) Weighted Number of (1) Weighted Outstanding at beginning of period 537,900 ¥ 1 634,700 ¥ 1 Exercised (110,100 ) 1 (96,800 ) 1 Outstanding at end of period 427,800 ¥ 1 537,900 ¥ 1 Exercisable at end of period 296,200 ¥ 1 332,200 ¥ 1 (1) Number of options is the number of SMFG’s common stock granted by the exercise of stock options. In June 2017, SMFG and SMBC resolved to discontinue the issuance of new stock options. Thereafter, SMFG has not issued any new stock options. The weighted average stock price at the date of exercise was ¥4,250 and ¥3,886 for the fiscal years ended March 31, 2023 and 2022, respectively. Summarized information about stock options outstanding at March 31, 2023 and 2022 was as follows: At March 31, 2023 2022 Exercise Number of Remaining Number of Remaining SMFG Stock Acquisition Rights ¥ 1 427,800 20.1 537,900 21.3 Compensation Plans Utilizing Restricted Stock In July 2017, the SMFG compensation committee resolved to revise the executive compensation policy and to introduce new stock compensation plans that utilize restricted stock. The plans consist of Stock Compensation Plan I (“Plan I”), which determines remuneration primarily based on the medium-term performance, Stock Compensation Plan II (“Plan II”), which determines remuneration primarily based on the annual performance and Stock Compensation Plan III (“Plan III”), which determines remuneration primarily based on corporate title. Plan I (medium-term performance share plan) has an evaluation period of three years, corresponding with SMFG’s medium-term management plan. Executives are initially allotted shares of restricted stock equivalent to the monetary amount determined based on the executive’s corporate title. After the completion of the evaluation period, the compensation committee reviews the progress of the medium-term management plan, performance of SMFG’s common stock, and results of customer satisfaction surveys and other factors, to determine the final amount to be released from transfer restrictions. Furthermore, the Company has incorporated quantitative indicators related to sustainability from the fiscal year ending March 31, 2024. In case the final amount falls below the initial amount, SMFG retrieves all or part of the allotted shares at no cost. Under Plan II (annual performance share plan), executives are allotted shares of restricted stock equivalent to a certain portion of the monetary amount determined based on the annual performance of SMFG and SMBC, as well as on the individual performance of the executives reviewed both from short-term and medium-to-long-term Under Plan III (promotion reward plan), executives are allotted shares of restricted stock equivalent to pre-determined The eligible executives for the plans are directors (excluding outside directors), corporate executive officers and executive officers, etc. of SMFG, directors (excluding outside directors) and executive officers, etc. of SMBC and representative corporate executive officers of certain of the Company’s subsidiaries. As part of the executive compensation policy, SMFG and SMBC introduced provisions for forfeiture and claw-back of vested stock under the plans in order to restrain excessive risk-taking and foster a prudent risk culture expected of a financial institution. The number of restricted shares and the fair value of restricted shares at the me asu For the fiscal year ended 2023 2022 Outstanding at beginning of period 1,399,680 1,266,013 Allotted 329,092 322,041 Released (221,673 ) (179,557 ) Forfeited — (8,817 ) Outstanding at end of period 1,507,099 1,399,680 Fair value at measurement date ¥ 4,004 ¥ 3,749 The fair value of restricted shares is based on the market price of SMFG common st oc ents. |
Dividends Per Share
Dividends Per Share | 12 Months Ended |
Mar. 31, 2023 | |
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Dividends Per Share | 41 DIVIDENDS PER SHARE The dividends recognized by the Company for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: Dividends per share Aggregate amount (In yen) (In millions) For the fiscal year ended March 31, 2023: Common stock ¥ 220 ¥ 301,627 For the fiscal year ended March 31, 2022: Common stock ¥ 200 ¥ 274,127 For the fiscal year ended March 31, 2021: Common stock ¥ 195 ¥ 267,144 The Company proposed to the shareholders the distribution of a dividend of ¥125 per share of common stock totaling ¥168,078 million in respect of the fiscal year ended March 31, 2023. The dividend is subject to the approval at the general meeting of shareholders on June 29, 2023 The consolidated financial statements for the fiscal year ended March 31, 2023 do not include this dividend. |
Contingency and Capital Commitm
Contingency and Capital Commitments | 12 Months Ended |
Mar. 31, 2023 | |
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Contingency and Capital Commitments | 42 CONTINGENCY AND CAPITAL COMMITMENTS Legal Proceedings The Group is engaged in various legal proceedings in Japan and a number of overseas jurisdictions, involving claims by and against it, which arise in the normal course of business. The Group does not expect that the outcome of these proceedings will have a significant adverse effect on the consolidated financial statements of the Group. The Group has recorded adequate provisions with respect to litigation arising out of normal business operations. The Group has not disclosed any contingent liability associated with these legal actions because it cannot reliably be estimated. In addition, the Group’s wholly-owned broker-dealer subsidiary, SMBC Nikko Securities Inc . Capital Commitments At March 31, 2023 and 2022, the Group had ¥1,134 million and ¥6,587 million, respectively, of contractual commitments to acquire property, plant and equipment. In addition, the Group had ¥631 million and nil of contractual commitments to acquire intangible assets, at March 31, 2023 and 2022, respectively. Loan Commitments and Financial Guarantees and Other Credit-related Contingent Liabilities Loan commitment contracts on overdrafts and loans are agreements to lend up to a prescribed amount to customers, as long as there is no violation of any condition established in the contracts. However, since many of these loan commitments are expected to expire without being drawn down, the total amount of unused commitments does not necessarily represent an actual future cash flow requirement. Many of these loan commitments include clauses under which the Group can reject an application from customers or reduce the contract amounts in cases where economic conditions change, the Group needs to secure claims, or some other significant event occurs. Financial guarantees are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the terms of the debt instrument. Other credit-related contingent liabilities include performance bonds, which are contracts that provide compensation if another party fails to perform the contractual obligation. The table below shows the nominal amounts of undrawn loan commitments, and financial guarantees and other credit-related contingent liabilities at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Loan commitments ¥ 79,068,816 ¥ 73,246,384 Financial guarantees and other credit-related contingent liabilities 13,693,772 11,722,240 Total ¥ 92,762,588 ¥ 84,968,624 |
Analysis of Financial Assets an
Analysis of Financial Assets and Liabilities by Measurement Basis | 12 Months Ended |
Mar. 31, 2023 | |
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Analysis of Financial Assets and Liabilities by Measurement Basis | 43 ANALYSIS OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT BASIS After initial recognition, financial assets and liabilities are measured either at fair value or amortized cost, within the measurement categories as defined in IFRS 9. The summary of significant accounting policies in Note 2 describes how these categories of financial assets and liabilities are measured, and how income and expenses are recognized either in profit or loss, or in other comprehensive income. The following tables present the carrying amounts of the financial assets and liabilities, by category and by line item, of the consolidated statements of financial position. At March 31, 2023 Financial assets and Financial assets and Debt instruments at Equity instruments at Total (In millions) Financial assets: Cash and deposits with banks ¥ — ¥ 76,465,511 ¥ — ¥ — ¥ 76,465,511 Call loans and bills bought — 5,684,812 — — 5,684,812 Reverse repurchase agreements and cash collateral on securities borrowed — 11,024,084 — — 11,024,084 Trading assets 4,585,915 — — — 4,585,915 Derivative financial instruments 8,649,947 — — — 8,649,947 Financial assets at fair value through profit or loss 1,488,239 — — — 1,488,239 Investment securities — 235,567 22,811,423 4,548,608 27,595,598 Loans and advances — 111,891,134 — — 111,891,134 Other financial assets (1) — 5,360,634 — — 5,360,634 Total ¥ 14,724,101 ¥ 210,661,742 ¥ 22,811,423 ¥ 4,548,608 ¥ 252,745,874 Financial liabilities: Deposits (2) ¥ (12,641 ) ¥ 172,940,451 ¥ — ¥ — ¥ 172,927,810 Call money and bills sold — 2,569,056 — — 2,569,056 Repurchase agreements and cash collateral on securities lent — 17,786,026 — — 17,786,026 Trading liabilities 3,291,089 — — — 3,291,089 Derivative financial instruments 10,496,855 — — — 10,496,855 Financial liabilities designated at fair value through profit or loss 414,106 — — — 414,106 Borrowings (2) (822 ) 15,372,623 — — 15,371,801 Debt securities in issue (2) 1,525 11,983,469 — — 11,984,994 Other financial liabilities (1) — 8,522,212 — — 8,522,212 Total ¥ 14,190,112 ¥ 229,173,837 ¥ — ¥ — ¥ 243,363,949 At March 31, 2022 Financial assets and Financial assets and Debt instruments at Equity instruments at Total (In millions) Financial assets: Cash and deposits with banks ¥ — ¥ 75,697,521 ¥ — ¥ — ¥ 75,697,521 Call loans and bills bought — 1,965,135 — — 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed — 11,303,930 — — 11,303,930 Trading assets 3,736,296 — — — 3,736,296 Derivative financial instruments 6,443,748 — — — 6,443,748 Financial assets at fair value through profit or loss 1,695,585 — — — 1,695,585 Investment securities — 83,954 28,066,966 4,598,485 32,749,405 Loans and advances — 104,635,815 — — 104,635,815 Other financial assets (1) — 5,309,839 — — 5,309,839 Total ¥ 11,875,629 ¥ 198,996,194 ¥ 28,066,966 ¥ 4,598,485 ¥ 243,537,274 Financial liabilities: Deposits (2) ¥ (8,569 ) ¥ 162,602,061 ¥ — ¥ — ¥ 162,593,492 Call money and bills sold — 1,130,000 — — 1,130,000 Repurchase agreements and cash collateral on securities lent — 20,113,162 — — 20,113,162 Trading liabilities 3,181,992 — — — 3,181,992 Derivative financial instruments 6,966,336 — — — 6,966,336 Financial liabilities designated at fair value through profit or loss 455,734 — — — 455,734 Borrowings (2) (138 ) 20,584,789 — — 20,584,651 Debt securities in issue (2) 5,721 11,422,716 — — 11,428,437 Other financial liabilities (1) 851 7,808,826 — — 7,809,677 Total ¥ 10,601,927 ¥ 223,661,554 ¥ — ¥ — ¥ 234,263,481 (1) Other financial assets and liabilities comprise of those included in other assets and liabilities, which meet the definition of a financial asset and liability. (2) Embedded derivatives, which are separately accounted for, but presented together with the host contract in the consolidated statements of financial position, are disclosed in this table within the category of “Financial assets and liabilities at fair value through profit or loss.” Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in this table as liabilities to be consistent with the line of the host contract. |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Fair Value of Financial Assets and Liabilities | 44 FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Fair Financial Assets and Liabilities Carried at Fair Value Valuation Process The Group undertakes a valuation process based on its valuation control framework, which governs internal control standards, methodologies and procedures to ensure that the fair values are determined or validated independently of the front office. The Group uses valuation techniques commonly used by market participants to price the financial instruments and they have been demonstrated to provide reliable estimates of prices obtained in actual market transactions. The valuation techniques include the DCF method, option pricing models and reference to the current fair value of another instrument that is substantially the same. Key adjustments, such as liquidity risk and credit risk adjustments are also taken into account to derive fair values. Where valuation techniques are used to determine fair values, they are validated and reviewed. In principal subsidiaries, their risk management departments, which are independent from the business units, review significant valuation methodologies at least once a year, and recalibrate model parameters and inputs by comparing fair values derived from the valuation techniques to the external market data such as broker quotes. Where the data obtained from third-party sources such as brokers and pricing service providers are utilized in determining fair values, those departments also examine those data, taking into account the consistency among the different sources, the aging of the data and other factors. In addition, accounting departments in those principal subsidiaries are responsible for ensuring that the accounting policies and procedures to determine fair values are in compliance with relevant accounting standards. Fair Value Hierarchy Financial assets and liabilities measured at fair value are classified into one of three levels within a fair value hierarchy based on the inputs used in the fair value measurement. The three levels of the fair value hierarchy are as follows: • quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date (Level 1); • inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (Level 2); and • significant unobservable inputs for the asset or liability (Level 3). The following tables present the carrying amounts of financial assets and liabilities carried at fair value based on the three levels of the fair value hierarchy at March 31, 2023 and 2022. At March 31, 2023 Level 1 (1) Level 2 (1) Level 3 Total (In millions) Financial assets: Trading assets: Debt instruments ¥ 3,732,551 ¥ 497,294 ¥ — ¥ 4,229,845 Equity instruments 340,365 15,705 — 356,070 Total trading assets 4,072,916 512,999 — 4,585,915 Derivative financial instruments: Interest rate derivatives 130,725 5,658,891 — 5,789,616 Currency derivatives 145 2,774,537 499 2,775,181 Equity derivatives 20,571 13,002 20,935 54,508 Commodity derivatives 407 8,735 — 9,142 Credit derivatives — 21,142 358 21,500 Total derivative financial instruments 151,848 8,476,307 21,792 8,649,947 Financial assets at fair value through profit or loss: Debt instruments 343,539 398,883 650,467 1,392,889 Equity instruments 2,829 7,320 85,201 95,350 Total financial assets at fair value through profit or loss 346,368 406,203 735,668 1,488,239 Investment securities at fair value through other comprehensive income: Japanese government bonds 9,576,298 — — 9,576,298 U.S. Treasury and other U.S. government agency bonds 5,232,456 — — 5,232,456 Other debt instruments 1,503,857 6,498,812 — 8,002,669 Total debt instruments 16,312,611 6,498,812 — 22,811,423 Equity instruments 4,076,610 7,177 464,821 4,548,608 Total investment securities at fair value through other comprehensive 20,389,221 6,505,989 464,821 27,360,031 Total ¥ 24,960,353 ¥ 15,901,498 ¥ 1,222,281 ¥ 42,084,132 Financial liabilities: Trading liabilities: Debt instruments ¥ 3,017,272 ¥ 84,161 ¥ — ¥ 3,101,433 Equity instruments 183,935 5,721 — 189,656 Total trading liabilities 3,201,207 89,882 — 3,291,089 Derivative financial instruments: Interest rate derivatives 92,387 7,317,498 3,248 7,413,133 Currency derivatives — 3,001,220 5,066 3,006,286 Equity derivatives 34,204 894 7,110 42,208 Commodity derivatives 1,247 6,699 — 7,946 Credit derivatives — 27,074 208 27,282 Total derivative financial instruments 127,838 10,353,385 15,632 10,496,855 Financial liabilities designated at fair value through profit or loss — 229,086 185,020 414,106 Others (2) — (4,086 ) (7,852 ) (11,938 ) Total ¥ 3,329,045 ¥ 10,668,267 ¥ 192,800 ¥ 14,190,112 At March 31, 2022 Level 1 (1) Level 2 (1) Level 3 Total (In millions) Financial assets: Trading assets: Debt instruments ¥ 2,860,215 ¥ 629,043 ¥ — ¥ 3,489,258 Equity instruments 245,186 1,852 — 247,038 Total trading assets 3,105,401 630,895 — 3,736,296 Derivative financial instruments: Interest rate derivatives 612,246 2,981,691 6 3,593,943 Currency derivatives 101 2,697,933 5,951 2,703,985 Equity derivatives 74,820 689 26,804 102,313 Commodity derivatives 1,413 20,127 — 21,540 Credit derivatives — 21,318 649 21,967 Total derivative financial instruments 688,580 5,721,758 33,410 6,443,748 Financial assets at fair value through profit or loss: Debt instruments 516,455 447,738 693,013 1,657,206 Equity instruments 2,375 120 35,884 38,379 Total financial assets at fair value through profit or loss 518,830 447,858 728,897 1,695,585 Investment securities at fair value through other comprehensive income: Japanese government bonds 15,774,197 — — 15,774,197 U.S. Treasury and other U.S. government agency bonds 5,681,789 — — 5,681,789 Other debt instruments 1,378,880 5,232,100 — 6,610,980 Total debt instruments 22,834,866 5,232,100 — 28,066,966 Equity instruments 4,117,832 11,940 468,713 4,598,485 Total investment securities at fair value through other comprehensive income 26,952,698 5,244,040 468,713 32,665,451 Total ¥ 31,265,509 ¥ 12,044,551 ¥ 1,231,020 ¥ 44,541,080 Financial liabilities: Trading liabilities: Debt instruments ¥ 3,026,965 ¥ 125,078 ¥ — ¥ 3,152,043 Equity instruments 23,339 6,610 — 29,949 Total trading liabilities 3,050,304 131,688 — 3,181,992 Derivative financial instruments: Interest rate derivatives 218,193 3,547,303 7,168 3,772,664 Currency derivatives 204 2,983,028 4,299 2,987,531 Equity derivatives 145,021 2,676 11,420 159,117 Commodity derivatives 202 19,342 — 19,544 Credit derivatives — 27,352 128 27,480 Total derivative financial instruments 363,620 6,579,701 23,015 6,966,336 Financial liabilities designated at fair value through profit or loss — 164,648 291,086 455,734 Others (2)(3) — 917 (3,052 ) (2,135 ) Total ¥ 3,413,924 ¥ 6,876,954 ¥ 311,049 ¥ 10,601,927 (1) Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the period. There were no significant transfers between Level 1 and Level 2 for the fiscal years ended March 31, 2023 and 2022. (2) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. The separated embedded derivatives are measured at fair value using the valuation techniques described in “Derivative financial instruments (including embedded derivatives)” below. (3) Contingent consideration liabilities arising from business combinations, which are measured at fair value using discounted cash flow models, are presented as others. The following tables present reconciliations from the beginning to the ending balances for financial assets and liabilities carried at fair value and categorized within Level 3 of the fair value hierarchy for the fiscal years ended March 31, 2023 and 2022. At April 1, Total gains (losses) Purchases Sales Issuances Settlement (1) Transfers (2) Transfers (2) At March 31, Changes in Included in Included in (In millions) Derivative financial instruments—net: Interest rate derivatives—net ¥ (7,162 ) ¥ (1,514 ) ¥ — ¥ 554 ¥ — ¥ — ¥ — ¥ — ¥ 4,874 ¥ (3,248 ) ¥ (959 ) Currency derivatives—net 1,652 (697 ) — — — — — — (5,522 ) (4,567 ) (2,302 ) Equity derivatives—net 15,384 3,012 — 5,595 (10,166 ) — — — — 13,825 7,693 Credit derivatives—net 521 (371 ) — — — — — — — 150 (240 ) Total derivative financial instruments—net 10,395 430 — 6,149 (10,166 ) — — — (648 ) 6,160 4,192 Financial assets at fair value through profit or loss: Debt instruments 693,013 (4,804 ) 301 157,152 (42,145 ) — (69,317 ) — (83,733 ) 650,467 (6,742 ) Equity instruments 35,884 6,033 — 46,374 (525 ) — (1,381 ) — (1,184 ) 85,201 5,688 Total financial assets at fair value through profit or loss 728,897 1,229 301 203,526 (42,670 ) — (70,698 ) — (84,917 ) 735,668 (1,054 ) Investment securities at fair value through other comprehensive Equity instruments 468,713 — 8,865 5,380 (17,578 ) — (571 ) 12 — 464,821 — Total investment securities at fair value through other 468,713 — 8,865 5,380 (17,578 ) — (571 ) 12 — 464,821 — Financial liabilities designated at fair value through profit or loss (291,086 ) (20,742 ) 2,129 — — (56,316 ) 180,995 — — (185,020 ) 13,496 Others (3) 3,052 6,078 — 940 — — — — (2,218 ) 7,852 7,671 Total ¥ 919,971 ¥ (13,005 ) ¥ 11,295 ¥ 215,995 ¥ (70,414 ) ¥ (56,316 ) ¥ 109,726 ¥ 12 ¥ (87,783 ) ¥ 1,029,481 ¥ 24,305 At April 1, Total gains (losses) Purchases Sales Issuances Settlement (1) Transfers (2) Transfers (2) At March 31, Changes in Included in Included in (In millions) Derivative financial instruments—net: Interest rate derivatives—net ¥ (3,588 ) ¥ (3,759 ) ¥ — ¥ 316 ¥ — ¥ — ¥ — ¥ — ¥ (131 ) ¥ (7,162 ) ¥ (3,473 ) Currency derivatives—net (5,341 ) 6,944 — — — — — — 49 1,652 6,314 Equity derivatives—net 7,132 9,057 — 8,931 (9,736 ) — — — — 15,384 12,567 Credit derivatives—net 1,766 (647 ) 12 — — — (610 ) — — 521 (371 ) Total derivative financial instruments—net (31 ) 11,595 12 9,247 (9,736 ) — (610 ) — (82 ) 10,395 15,037 Financial assets at fair value through profit or loss: Debt instruments 561,450 81,856 207 155,295 (49,939 ) — (53,086 ) — (2,770 ) 693,013 79,696 Equity instruments 32,777 (752 ) — 11,708 (2,322 ) — (4,479 ) — (1,048 ) 35,884 (2,148 ) Total financial assets at fair value through profit or loss 594,227 81,104 207 167,003 (52,261 ) — (57,565 ) — (3,818 ) 728,897 77,548 Investment securities at fair value through other comprehensive income: Equity instruments 447,605 — 19,569 53,759 (45,606 ) — (6,613 ) — (1 ) 468,713 — Total investment securities at fair value through other comprehensive income 447,605 — 19,569 53,759 (45,606 ) — (6,613 ) — (1 ) 468,713 — Financial liabilities designated at fair value through profit or loss (166,896 ) 44,122 2,057 — — (391,051 ) 215,304 — 5,378 (291,086 ) 44,898 Others (3) (1,104 ) 4,934 — — — — — — (778 ) 3,052 5,345 Total ¥ 873,801 ¥ 141,755 ¥ 21,845 ¥ 230,009 ¥ (107,603 ) ¥ (391,051 ) ¥ 150,516 ¥ — ¥ 699 ¥ 919,971 ¥ 142,828 (1) Settlements for equity instruments include redemption of preferred stocks and receipt of cash distributions which represent a return of investment. (2) Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the period. For the fiscal year ended March 31, 2023, transfers out of Level 3 amounted to ¥87,783 million primarily due to a decrease of significance of unobservable inputs related to liquidity risk of certain investment funds. On the other hand, for the fiscal year ended March 31, 2022, those amounted million primarily due to an increase in observability of inputs for certain financial liabilities designated at fair value through profit or loss. (3) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. The following table presents total gains or losses included in profit or loss for the Level 3 financial assets and liabilities, and changes in unrealized gains or losses included in profit or loss related to those financial assets and liabilities held at March 31, 2023 and 2022 by line item of the consolidated income statements. Total gains (losses) Changes in unrealized 2023 2022 2023 2022 (In millions) Net interest income ¥ 1,478 ¥ 3,757 ¥ 1,078 ¥ 1,317 Net trading income 5,119 12,578 10,785 18,871 Net income (loss) from financial assets and liabilities at fair value through profit or loss (19,513 ) 125,226 12,442 122,446 Other income (expenses) (89 ) 194 — 194 Total ¥ (13,005 ) ¥ 141,755 ¥ 24,305 ¥ 142,828 The aggregate deferred day one profit yet to be recognized in profit or loss at the beginning and end of the fiscal years ended March 31, 2023 and 2022 and reconciliation of changes in the balances were as follows: For the fiscal year ended March 31, 2023 2022 (In millions) Balance at beginning of period ¥ 27,100 ¥ 18,392 Increase due to new trades 18,402 32,487 Reduction due to redemption, sales or passage of time (23,226 ) (23,779 ) Balance at end of period ¥ 22,276 ¥ 27,100 The Group has entered into transactions where the fair value is determined using valuation techniques for which not all inputs are observable in the market. The difference between the transaction price and the fair value that would be determined at initial recognition using a valuation technique is referred to as “day one profit and loss,” which is not recognized immediately in the consolidated income statements. The table above shows the day one profit and loss balances, all of which are derived from derivative financial instruments, financial assets at fair value through profit or loss and financial liabilities designated at fair value through profit or loss. The release to profit or loss results from the realization due to redemption or sales, and the amortization of the deferred day one profit and loss with the passage of time over the life of the instruments. Valuation Techniques Financial instruments which are classified as trading assets and liabilities, derivative financial instruments, financial assets at fair value through profit or loss, investment securities at fair value through other comprehensive income and financial liabilities designated at fair value through profit or loss are measured at fair value in the consolidated statements of financial position. These instruments are measured at fair value using a quoted market price, if they are traded in an active market, or, for others, using the fair value measurement techniques as discussed below. Trading assets and trading liabilities Debt and equity instruments traded in an active market are measured at fair value using a quoted market price in such a market and they are categorized within Level 1. If a quoted market price is not available, they are measured by using a price quoted by a third party, such as a pricing service or broker, or by reference to the current fair value of another instrument that is substantially the same, based on inputs such as prices obtained from brokers, observable interest rates and spreads. These financial instruments are categorized within Level 2. Debt instruments measured at fair value using the DCF method, where primary inputs are observable interest rates and credit spreads, inferred from the prevailing market rates, are also categorized within Level 2. Derivative financial instruments (including embedded derivatives) Listed derivatives (including interest rates, bonds, currencies, stocks and commodities) are measured at fair value using the settlement price announced by the major exchange on which transactions are traded because the settlement price in the exchange reflects the most current transaction price, and is readily and regularly available from the exchange. Listed derivatives are categorized within Level 1. OTC derivatives (non-exchange-traded are not directly observable in the market, including historical correlation coefficients, historical volatilities and prepayment rates. If the impact of these unobservable inputs is significant to the fair value for those transactions, the Group categorizes the transactions within Level 3. In addition, the fair value of OTC derivatives incorporates both counterparty credit risk in relation to OTC derivative assets and own credit risk in relation to OTC derivative liabilities. The Group calculates the credit risk adjustments by applying the probability of default that reflects the counterparty’s or its own credit risk to the OTC derivative exposures and multiplying the result by the loss expected in the event of default. For the probability of default, the Group uses observable market data, where possible. The fair value of OTC derivatives also incorporates adjustments reflecting funding costs to uncollateralized components of these derivatives, based on market-observable spreads on the Group’s funding transactions. The OTC derivative exposures used are determined taking into consideration the effect of master netting agreements and collateral. As the Group manages the OTC derivatives on the basis of its net credit risk exposure, the credit risk adjustments of those OTC derivatives are measured on a portfolio basis in accordance with the exception set forth in IFRS 13. Financial assets at fair value through profit or loss Non-trading Publicly traded stocks, investment trusts and funds are measured at fair value using the market price and are categorized within Level 1 if they are traded in an active market. Instruments whose prices are not available in the market, such as privately offered investment trusts, are measured at fair value based on the unit price, which is usually regarded as an exit price, obtained from the fund administrator or investment management firm. In such a case, these investment trusts and funds are categorized within Level 2. Other investment funds included in financial assets at fair value through profit or loss, such as private equity funds and real estate investment funds, are generally measured at fair value based on net asset value, which includes significant unobservable inputs. These funds are categorized within Level 3. Certain loans and advances are measured at fair value using discounted cash flow models taking into account certain factors including counterparties’ credit ratings, pledged collateral and market interest rates, which include significant unobservable inputs, and are categorized within Level 3. Some equity and debt instruments in this category are hybrid instruments which have both equity and debt features. These include preferred stocks which are measured at fair value using the Monte Carlo Simulation valuation model, if they are indexed to the market prices in a stock exchange. The valuation model uses the historical volatility of the listed stocks as an input, which are not observable in the market, resulting in these instruments being categorized within Level 3, if the impact of this unobservable input is significant to the fair value. Other types of preferred stocks and other non-hybrid Investment securities at fair value through other comprehensive income Debt instruments are measured at fair value using a quoted market price and categorized within Level 1 if they are traded in an active market. Debt instruments are categorized within Level 2 if they are measured at fair value using a price quoted by a third party, such as a pricing service or broker, or by reference to the current fair value of another bond that is substantially the same based on inputs such as prices obtained from brokers, observable interest rates and spreads. As for equity instruments, listed stocks are measured at fair value based on the market price at a stock exchange and categorized within Level 1 if they are traded in an active market. Unlisted common and preferred stocks in this category are measured at fair value based on the market approach using market multiples or others in which significant unobservable inputs are used. These instruments are categorized within Level 3. Financial liabilities designated at fair value through profit or loss Certain financial liabilities containing embedded derivatives are measured at fair value using valuation techniques. The host contracts of those liabilities are measured at fair value based on the present values of the contractual cash flows for expected remaining maturities, using the relevant credit-adjusted rates based on observable market data on the Group’s funding transactions. The embedded derivatives, which forms part of the contractual cash flows, are measured at fair value by using the same procedures as described in “Derivative financial instruments (including embedded derivatives).” Those financial liabilities are measured at fair value by combining the fair values of the host contracts and embedded derivatives. The valuation techniques for most of those liabilities use inputs which are not directly observable in the market, including historical correlation coefficients and historical volatilities. If the impact of these unobservable inputs is significant to the fair value for those liabilities, the Group categorizes those liabilities within Level 3. Significant Unobservable Inputs The following tables present quantitative information about significant unobservable inputs used in the fair value measurement for Level 3 financial assets and liabilities at March 31, 2023 and 2022. At March 31, 2023 Assets Liabilities Valuation (1) Significant unobservable inputs (1) Range of (1) (In millions) Derivative financial instruments: Interest rate derivatives ¥ — ¥ 3,248 Option model Interest rate to interest rate correlation 26%-99% Quanto correlation (11%)-42% Currency derivatives 499 5,066 Option model Interest rate to interest rate correlation 29%-99% Quanto correlation 8%-50% Foreign exchange volatility 12%-36% Equity derivatives 20,935 7,110 Option model Equity to equity correlation 48%-92% Quanto correlation (13%)-38% Equity volatility 12%-70% Credit derivatives 358 208 Credit Default model Quanto correlation 15%-25% Financial assets at fair value through profit or loss: Debt instruments 650,467 — Option model Foreign exchange volatility 13%-43% DCF model Probability of default rate 0%-33% Loss given default rate 0%-100% Discount margin 5%-9% Net asset value (2) — — Equity instruments 85,201 — Market multiples Price/Book value multiple 1.1x DCF model Probability of default rate 0%-1% Loss given default rate 90% See note (3) below — — Investment securities at fair value through other comprehensive income: Equity instruments 464,821 — Market multiples Price/Book value multiple 0.2x-3.7x Liquidity discount 20% See note (3) below — — Financial liabilities designated at fair value through profit or loss — 185,020 Option model Equity to equity correlation 47%-93% Interest rate to interest rate correlation 29%-30% Quanto correlation (13%)-50% Equity volatility 17%-52% Credit Default model Quanto correlation 15%-25% Others (4) — (7,852 ) Option model Equity to equity correlation 80%-83% Interest rate to interest rate correlation 26%-99% Quanto correlation (11%)-50% Equity volatility 24%-28% Foreign exchange volatility 12%-43% Credit Default model Quanto correlation 15%-25% At March 31, 2022 Assets Liabilities Valuation (1) Significant unobservable inputs (1) Range of (1) (In millions) Derivative financial instruments: Interest rate derivatives ¥ 6 ¥ 7,168 Option model Interest rate to interest rate correlation 16%-99% Quanto correlation 7%-30% Currency derivatives 5,951 4,299 Option model Interest rate to interest rate correlation 29%-99% Quanto correlation 7%-49% Foreign exchange volatility 11%-39% DCF model Prepayment rate 22% Equity derivatives 26,804 11,420 Option model Equity to equity correlation 45%-92% Quanto correlation (16% ) Equity volatility 17%-79% Credit derivatives 649 128 Credit Default model Quanto correlation 15%-25% Financial assets at fair value through profit or loss: Debt instruments 693,013 — Monte Carlo Simulation Equity volatility 17%-38% Option model Foreign exchange volatility 12%-41% DCF model Probability of default rate 0%-23% Loss given default rate 10%-100% Net asset value (2) — — Equity instruments 35,884 — DCF model Probability of default rate 0%-2% Loss given default rate 90% See note (3) below — — Investment securities at fair value through other comprehensive income: Equity instruments 468,713 — Market multiples Price/Earnings multiple 9.3x-48.5x Price/Book value multiple 0.3x-2.2x EV/EBITDA multiple 5.8x-15.5x Liquidity discount 20% See note (3) below — — Financial liabilities designated at fair value through profit or loss — 291,086 Option model Equity to equity correlation 43%-93% Interest rate to interest rate correlation 29%-30% Quanto correlation (16% ) Equity volatility 13%-57% Credit Default model Quanto correlation 15%-25% Others (4) — (3,052 ) Option model Equity to equity correlation 57%-93% Interest rate to interest rate correlation 16%-99% Quanto correlation 7%-49% Equity volatility 17%-49% Foreign exchange volatility 12%-41% Credit Default model Quanto correlation 15%-90% (1) Valuation techniques and unobservable inputs for insignificant Level 3 financial assets and liabilities are excluded. (2) The Group has determined that the net asset value represents fair values of certain investment funds. (3) Fair values of certain equity instruments such as unlisted stocks are estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors. A range of key inputs is not provided in these tables as it is not practical to do so given the nature of such valuation techniques. (4) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. Correlation Correlation represents a measure of the relationship between the movements of two variables, which is expressed as a number between plus and minus one. A positive correlation indicates that two variables move in the same direction while a negative correlation indicates that they move in opposite directions. Correlations could be any combination of variables such as interest rates, foreign exchange rates, CDS spread and stock price movements. Thus, both same-asset correlation and cross-asset correlation are used. Interest rate correlation between two different tenors is an example of same-asset correlations while quanto correlation which is the correlation between foreign exchange rates and another variable is an example of cross-asset correlation. These correlations are used in the valuation techniques of complex derivatives and estimated based on historical data. In general, a significant increase in the correlation in isolation would result in either a significantly higher or lower fair value measurement, depending on the terms of the instruments. Volatility Volatility represents a measure of how much a particular instrument, parameter or index is expected to change in value over time. The volatilities used in the valuation of some type of derivative instruments with optionality refer to the potential change in price or level of the underlying interest rates, foreign exchange rates or equity instruments. The volatilities of underlying listed stocks are used in the valuation of preferred stocks containing optionality. These volatilities are estimated based on historical data or information provided by third-party sources, together with other analytical techniques. In general, a significant increase in the volatility in isolation would result in a significantly higher fair value measurement. Prepayment rates Prepayment rate represents the ratio of principal that is assumed to be paid prematurely in each period. Prepayment rates change the future cash flows. In general, a significant increase in the prepayment rate in isolation would result in a significantly lower or higher fair value measurement. Probability of default and loss given default rates Probability of default rate represents the probability of default that reflects the counterparty’s credit risk while loss given default rate represents the loss expected in the event of default. Those are estimated based on historical experiences. In general, a significant increase in probability of default rate or loss given default rate in isolation would result in a significantly lower fair value measurement. Discount margin Discount margin represents a spread used in estimating future cash flows in a DCF method to reflect the uncertainty of the cash flows that market participants would consider. In general, a significant increase in the discount margin in isolation would result in a significantly lower fair value measurement. Price/Earnings, price/book value multiples Price/Earnings (“P/E”) multiple represents the ratio of the equity value to the net income, while price/book value (“P/B”) multiple represents the ratio of the equity value to the book value. These multiples are estimated based on comparable listed companies. In general, a significant increase in the P/E multiple or P/B multiple in isolation would result in a significantly higher fair value measurement. EV/EBITDA multiple EV/EBITDA multiple represents the ratio of the enterprise value (“EV”) to earnings before interest, taxes, depreciation and amortization (“EBITDA”), where the EV is the aggregate value of equity and debt minus cash and cash equivalents. The multiple is estimated based on comparable listed companies. In general, a significant increase in the EV/EBITDA multiple in isolation would result in a significantly higher fair value measurement. Liquidity discount A liquidity discount is primarily applied in the valuation techniques for unlisted stocks to reflect the fact that these stocks are not actively traded. In general, a significant increase in the liquidity discount in isolation would result in a significantly lower fair value measurement. Sensitivity Analysis The fair value of certain financial assets and liabilities are measured using valuation techniques based on inputs such as prices and rates that are not observable in the market. The following tables present the impact of the valuation sensitivity, if these inputs fluctuate to the extent deemed reasonable and the volatility of such inputs has a significant impact on the fair value. At March 31, 2023 Total fair value Effect recorded in Effect recorded Favorable Unfavorable Favorable Unfavorable (In millions) Financial instruments—net: Derivative financial instruments—net: Interest rate derivatives—net ¥ (3,248 ) ¥ — ¥ — ¥ — ¥ — Currency derivatives—net (4,567 ) 6 6 — — Equity derivatives—net 13,825 2,462 2,467 — — Credit derivatives—net 150 17 17 — — Financial assets at fair value through profit or loss: Debt instruments 650,467 917 4,533 — — Equity instruments 85,201 362 875 — — Investment securities at fair value through other comprehensive income: Equity instruments 464,821 — — 15,368 15,368 Financial liabilities designated at fair value through profit or loss (1) (185,020 ) 1,007 1,109 — — Others (1)(2) 7,852 62 61 — — At March 31, 2022 Total fair value Effect recorded in Effect recorded Favorable Unfavorable Favorable Unfavorable (In millions) Financial instruments—net: Derivative financial instruments—net: Interest rate derivatives—net ¥ (7,162 ) ¥ — ¥ — ¥ — ¥ — Currency derivatives—net 1,652 75 73 — — Equity derivatives—net 15,384 3, |
Offsetting of Financial Assets
Offsetting of Financial Assets and Liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Offsetting of Financial Assets and Liabilities | 45 OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The following tables present the information about the impact of offsetting of financial assets and liabilities in the consolidated statements of financial position in accordance with the criteria described in Note 2 “Summary of Significant Accounting Policies,” as well as the impact of netting of financial instruments that are subject to enforceable master netting arrangements or similar agreements but do not qualify for the offsetting criteria at March 31, 2023 and 2022. At March 31, 2023 Gross amounts Gross amounts (1) Net amounts Related amounts not offset in (2) Financial (3) Cash collateral Net amounts (In millions) Financial assets (4) Reverse repurchase agreements and cash collateral on securities borrowed ¥ 12,635,719 ¥ (1,611,635 ) ¥ 11,024,084 ¥ (10,845,394 ) ¥ — ¥ 178,690 Derivative financial instruments 9,862,036 (1,212,089 ) 8,649,947 (5,741,157 ) (969,175 ) 1,939,615 Total ¥ 22,497,755 ¥ (2,823,724 ) ¥ 19,674,031 ¥ (16,586,551 ) ¥ (969,175 ) ¥ 2,118,305 Financial liabilities (4) Repurchase agreements and cash collateral on securities lent ¥ 19,397,661 ¥ (1,611,635 ) ¥ 17,786,026 ¥ (17,773,852 ) ¥ — ¥ 12,174 Derivative financial instruments 11,666,371 (1,169,516 ) 10,496,855 (5,709,875 ) (1,122,754 ) 3,664,226 Total ¥ 31,064,032 ¥ (2,781,151 ) ¥ 28,282,881 ¥ (23,483,727 ) ¥ (1,122,754 ) ¥ 3,676,400 At March 31, 2022 Gross amounts Gross amounts (1) Net amounts Related amounts not offset in (2) Financial (3) Cash Net amounts (In millions) Financial assets (4) Reverse repurchase agreements and cash collateral on securities borrowed ¥ 12,930,691 ¥ (1,626,761 ) ¥ 11,303,930 ¥ (11,069,691 ) ¥ — ¥ 234,239 Derivative financial instruments 7,044,938 (601,190 ) 6,443,748 (3,672,254 ) (466,535 ) 2,304,959 Total ¥ 19,975,629 ¥ (2,227,951 ) ¥ 17,747,678 ¥ (14,741,945 ) ¥ (466,535 ) ¥ 2,539,198 Financial liabilities (4) Repurchase agreements and cash collateral on securities lent ¥ 21,739,923 ¥ (1,626,761 ) ¥ 20,113,162 ¥ (20,039,312 ) ¥ — ¥ 73,850 Derivative financial instruments 7,672,663 (706,327 ) 6,966,336 (3,508,571 ) (1,107,582 ) 2,350,183 Total ¥ 29,412,586 ¥ (2,333,088 ) ¥ 27,079,498 ¥ (23,547,883 ) ¥ (1,107,582 ) ¥ 2,424,033 (1) Amounts offset for derivative financial instruments include cash collateral. (2) The amounts of financial instruments and cash collateral have been limited to the net amounts presented in the consolidated statements of financial position so as not to include any over-collateralization. (3) Financial instruments include non-cash (4) Financial assets and liabilities include amounts that are both subject to and not subject to enforceable master netting arrangements or similar agreements. The “Gross amounts offset in statements of financial position” column in the above tables represents the impact of offsetting of financial assets and liabilities in the consolidated statements of financial position in accordance with the offsetting criteria. The Group presents financial assets and liabilities on a net basis in the consolidated statements of financial position only if it currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis or realize the asset and settle the liability simultaneously. The “Related amounts not offset in statements of financial position” column comprises (1) financial assets and liabilities subject to netting arrangements, such as the International Swaps and Derivatives Association’s (“ISDA”) Master Agreement, master repurchase agreements and master securities lending agreements, which allow all the outstanding transactions with a particular counterparty to be set off only if the event of default or other predetermined events occur, and (2) cash and non-cash |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Financial Risk Management | 46 FINANCIAL RISK MANAGEMENT The Group classifies risks into the following categories: credit risk, market risk, liquidity risk, operational risk, conduct risk, reputational risk and model risk. This note presents information about the Group’s exposure to credit risk, market risk, and liquidity risk, and its policies and processes for measuring and managing these risks. Risk Management System Based on the recognition of the importance of risk management, top management is actively involved in the risk management process, and systems are in place for verifying the effectiveness and appropriateness of this process. Specifically, the Group-wide basic policies for risk management are determined by the Management Committee before being authorized by the board of directors, and regular reports are issued to the board of directors by the Group Chief Risk Officer (“CRO”) with regard to the status of risk management based on these policies. Three lines of defense have been defined, and the Group has clarified related roles and responsibilities of relevant divisions. With these provisions in place, risk management systems have been established based on the characteristics of particular businesses, and measures are being put in place to strengthen and improve the effectiveness of these systems in accordance with these basic policies for risk management. Furthermore, the Group is strengthening Group-wide risk management systems through the Group CRO Committee and the Global CRO Committee. The diagram below represents the risk management system of the Group. Credit Risk Credit risk is the risk of incurring losses from decline or loss of the value of an asset (including off-balance off-balance Credit risk management system Credit risk is the most significant risk to which the Group is exposed. The purpose of credit risk management is to keep the credit risk exposure to a permissible level relative to capital, to maintain the quality of assets and to ensure returns commensurate with risk. At the Group, the Group CRO formulates credit risk management policies each year on the basis of Group-wide basic policies for risk management. The Credit & Investment Planning Department, responsible for the comprehensive management of credit risk, drafts and administers credit risk regulations including the Group credit policies, manages non-performing The following chart shows the credit risk management system of SMBC, the Group’s significant banking subsidiary. At SMBC, the Credit & Investment Planning Department within the Risk Management Unit is responsible for the comprehensive management of credit risk. This department drafts and administers credit policies, the internal rating system, credit authority guidelines, and credit application guidelines, and manages NPLs, including impaired loans, and other aspects of credit portfolio management. The department also cooperates with the Corporate Risk Management Department and the Risk Management Information Department in quantifying credit risk (risk capital and risk-weighted assets) and controls SMBC’s entire credit risk. Further, the Credit Portfolio Management Department within the Credit & Investment Planning Department strives to stabilize the credit portfolio and manage the risk through credit derivatives, loan asset sales and other instruments. The credit departments, in cooperation with branches, conduct credit risk management for loans and manage portfolios. The credit limits they use are based on the baseline amounts that the Credit & Investment Planning Department establishes for each grading category, with particular attention paid to evaluating and managing customers or loans perceived to have particularly high credit risk. The Corporate Research Department engages in research on industries and analyzes the business and financial conditions of borrower enterprises to detect early signs of problems or growth potential. The Credit Administration Department is responsible for handling NPLs of borrowers classified as potentially bankrupt or lower, and formulates plans for workouts, including write-offs, and corporate rehabilitation. The department closely liaises with SMBC Servicer Co., Ltd., a Group company, which engages in related services to efficiently reduce the amount of NPLs, including through the sales of loans. The Internal Audit Unit of SMBC, operating independently of the business units, audits asset quality, accuracy of grading and state of credit risk management, and reports the results directly to the board of directors, the Management Committee and audit & supervisory committee. SMBC has established the Credit Risk Committee to undertake control of credit risk and to ensure the overall soundness of the loan operations. Credit risk management methods To effectively manage the risk involved in individual loans as well as the credit portfolio as a whole, the Group first acknowledges that every loan entails credit risk, assesses the credit risk posed by each borrower and loan using an internal rating system, and quantifies that risk for control purposes. Credit risk evaluation At SMBC, the Credit & Investment Planning Department manages an internal rating system for each asset control category set according to portfolio characteristics. For example, credits to commercial and industrial (“C&I”) companies, individuals for business purposes (domestic only), sovereigns, public sector entities, and financial institutions are assigned an “obligor grade,” which indicates the borrower’s creditworthiness, and/or “facility grade,” which indicates the collectability of assets taking into account the transaction conditions such as guarantee/collateral, and tenor. The business units determine an obligor grade by first assigning a financial grade using a financial strength grading model and data obtained from the obligor’s financial statements, including net worth and cash flows. The financial grade is then adjusted taking into account the actual state of the obligor’s financial position and qualitative factors to derive the obligor grade. The qualitative factors mainly include the expected future cash flows taking into account factors such as historical loss information, the appropriateness of the borrower’s business plan or operational improvement plan, the status of progress of its plan, and the overall support from financial institutions. In the event that the borrower is domiciled overseas, internal ratings for credit are made after taking into consideration the country rank, which represents an assessment of the credit quality of each country based on its political and economic situation, as well as its current account balance and external debt. Obligor grades and facility grades are reviewed once a year and as otherwise necessary, such as when there are changes in the credit situation. The Group’s subsidiaries carry out credit risk evaluations in line with SMBC. The tables below show the corporate obligor grading system of SMBC. Obligor Grade Definition Borrower Category Domestic J1 Very high certainty of debt repayment Normal J2 High certainty of debt repayment J3 Satisfactory certainty of debt repayment J4 Debt repayment is likely but this could change in cases of significant changes in economic trends or business environment depending on the situation J5 No problem with debt repayment over the short term, but not satisfactory over the mid to long term and the situation could change in cases of any changes in economic trends or business environment J6 Currently no problem with debt repayment, but it is highly likely that this could change in cases of significant changes in economic trends or business environment J7 Close monitoring is required due to problems in meeting loan terms and conditions, sluggish/unstable business, or financial problems Borrowers Requiring J7R Obligors with loans that are more than three months past due or with restructured loans within the “Borrowers Requiring Caution” category Substandard J8 Currently not bankrupt, but experiencing business difficulties, making insufficient progress in restructuring, and highly likely to go bankrupt Potentially Bankrupt J9 Though not yet legally or formally bankrupt, has serious business difficulties and rehabilitation is unlikely; thus, effectively bankrupt Virtually Bankrupt J10 Legally or formally bankrupt Bankrupt Borrowers Obligor Grade Definition Borrower Category Overseas G1 Very high certainty or high certainty of debt repayment Normal G2 Satisfactory certainty of debt repayment G3 Debt repayment is likely but this could change in cases of significant changes in economic trends or business environment depending on the situation G4 Debt repayment is likely but this could change in cases of significant changes in economic trends or business environment G5 No problem with debt repayment over the short term, but not satisfactory over the mid to long term and the situation could change in cases of any changes in economic trends or business environment G6 Currently no problem with debt repayment, but it is highly likely that this could change in cases of significant changes in economic trends or business environment G7 Close monitoring is required due to problems in meeting loan terms and conditions, sluggish/unstable business, or financial problems Borrowers Requiring G7R Obligors with loans that are more than three months past due or with restructured loans within the “Borrowers Requiring Caution” category Substandard G8 Currently not bankrupt, but experiencing business difficulties, making insufficient progress in restructuring, and highly likely to go bankrupt Potentially Bankrupt G9 Though not yet legally or formally bankrupt, has serious business difficulties and rehabilitation is unlikely; thus, effectively bankrupt Virtually Bankrupt G10 Legally or formally bankrupt Bankrupt Borrowers There are also grading systems for loans to individuals such as housing loans and structured finance including project finance, where the repayment source is limited to the cash flows generated by a particular business or asset. For example, the obligor grade of housing loans is determined taking into account various relevant factors such as proportion of the repayment to revenue, proportion of down payment to the value and past due information. The Credit & Investment Planning Department of SMBC centrally manages the internal rating systems, and designs, operates, supervises and validates the grading models. It validates the grading models (including statistical validation) of main assets following the procedure manual once a year to ensure their effectiveness and suitability. Quantification of credit risk At SMBC, credit risk quantification refers to the process of estimating the degree of credit risk of a portfolio or individual loan taking into account not just the obligor’s probability of default (“PD”), but also the concentration of risk in a specific customer or industry and the loss impact of fluctuations in the value of collateral, such as real estate and securities. Specifically, the PD by grade, loss given default (“LGD”), credit quality correlation among obligors, and other parameter values are estimated using the historical data of obligors and facilities stored in a database to calculate the credit risk. Then, based on these parameters, SMBC runs a simulation of simultaneous default using the Monte Carlo Simulation to calculate SMBC’s maximum loss exposure to the estimated amount of the maximum losses that may be incurred. Based on these quantitative results, SMBC allocates risk capital. Risk quantification is also executed for purposes such as to determine the portfolio’s risk concentration or to simulate economic movements (stress tests), and the results are used for making optimal decisions across the whole range of business operations, including formulating business plans and providing a standard against which individual credit applications are assessed. Credit assessment At SMBC, the credit assessment of corporate loans involves a variety of financial analyses, including cash flows, to predict an enterprise’s capability of loan repayment and its growth prospects. These quantitative measures, when combined with qualitative analyses of industrial trends, the enterprise’s research and development capabilities, the competitiveness of its products or services, and its management caliber, result in a comprehensive credit assessment. The loan application is analyzed in terms of the intended utilization of the funds and the repayment schedule. In the assessment of housing loans for individuals, SMBC employs a credit assessment model based on credit data amassed and analyzed by SMBC over many years, taking into account various relevant factors including proportion of the repayment to revenue, proportion of down payment to the value and past due information. Credit monitoring At SMBC, in addition to analyzing loans at the application stage, the Credit Monitoring System is utilized to reassess obligor grades, and review credit policies for each obligor so that problems can be detected at an early stage, and quick and effective action can be taken. The system includes annual monitoring that is carried out each time the financial results of the obligor enterprise are obtained, as well as ad-hoc Credit portfolio management Risk-taking within the scope of capital To keep the credit risk exposure to a permissible level relative to capital, the Corporate Risk Management Department of the Group sets a credit risk capital limit for internal control purposes. Under this limit, sub-limits Controlling concentration risk As the Group’s equity capital may be materially impaired in the event that the credit concentration risk becomes apparent, the Credit & Investment Planning Department of the Group therefore takes measures to manage concentration risks, such as introducing large exposure limits and conducting intensive loan reviews for obligors with large exposures, with an increased focus on industrial sectors with an excessive concentration of credit risk. Further, to manage country risk, SMBC’s Planning Department of the Global Banking Unit has credit limit guidelines based on each country’s creditworthiness. Toward active portfolio management The Credit & Investment Planning Department makes use of financial instruments to proactively and flexibly manage SMBC’s portfolio to stabilize credit risk. Maximum exposure to credit risk before collateral held or other credit enhancements The following table shows the maximum exposure to credit risk before taking into account any collateral held or other credit enhancements at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Credit risk exposures relating to assets on the consolidated statements of financial position: Deposits with banks ¥ 75,113,703 ¥ 74,780,886 Call loans and bills bought 5,684,812 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed 11,024,084 11,303,930 Trading assets 4,229,845 3,489,258 Derivative financial instruments 8,649,947 6,443,748 Financial assets at fair value through profit or loss 1,392,889 1,657,206 Investment securities: Debt instruments at amortized cost 235,567 83,954 Debt instruments at FVOCI 22,811,423 28,066,966 Loans and advances 111,891,134 104,635,815 Other financial assets 5,360,634 5,309,839 Credit risk exposures relating to off-balance (1) Loan commitments 79,068,816 73,246,384 Financial guarantees and other credit-related contingent liabilities 13,693,772 11,722,240 Total ¥ 339,156,626 ¥ 322,705,361 (1) The off-balance Based on the table above, excluding loan commitments (refer to Note 42 “Contingency and Capital Commitments”), the majority of the total exposure to credit risk is derived from “Loans and advances.” Collateral and other credit enhancements The Group considers the acquisition of collateral and guarantees as a secondary repayment source to further enhance loan recovery and minimize credit risk. Based on the assessment of a borrower’s real financial condition and potential future cash flows, the Group shall analyze the borrower’s repayment ability and require sufficient collateral in the form of an asset or third-party obligation. This serves to mitigate the inherent credit risk in the exposure, by either improving recoveries in the event of a default or transferring the borrower’s obligation to guarantors. Collateral received is mainly segregated into (1) financial collateral such as cash, deposits and securities, (2) real estate collateral such as land and buildings, and (3) guarantees received from sovereigns, municipal corporations, credit guarantee corporations and other public entities, financial institutions, and other companies. The Group’s credit risk management is mainly based on an analysis of the repayment ability from the cash flows of the borrower’s business performance, and the collateral and other credit enhancements are considered as secondary repayment sources in the Group’s business practice. At the time of the primary lending decision, the Group evaluates the collateral on an individual borrower basis to consider its financial effect for mitigating credit risk. The re-evaluation The following table shows the financial effect of collateral and other credit enhancements on impaired loans and advances at March 31, 2023 and 2022. The maximum collateral amounts included in the disclosure are limited to the carrying value of loans and advances where the credit exposure is over-collateralized. At March 31, 2023 2022 (In millions) Impaired loans and advances ¥ 1,170,662 ¥ 1,406,094 Financial effect of collateral and other credit enhancements 387,980 393,462 Concentration of risks of loans and advances with credit risk exposure An analysis of concentrations of credit risk from loans and advances by geographical sector and industry sector at March 31, 2023 and 2022 is shown below. The concentration by geographical sector is measured based on the domicile of the borrower. Geographical sector At March 31, 2023 2022 (In millions) Domestic ¥ 67,690,579 ¥ 64,189,084 Foreign: Americas 18,168,277 15,220,380 Europe 9,070,221 8,486,389 Asia 13,185,870 13,095,814 Others 5,028,880 4,962,032 Total foreign 45,453,248 41,764,615 Gross loans and advances 113,143,827 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) (324,830 ) Less: Allowance for loan losses (864,114 ) (993,054 ) Carrying amount ¥ 111,891,134 ¥ 104,635,815 Industry sector At March 31, 2023 2022 (In millions) Domestic: Manufacturing ¥ 10,654,680 ¥ 10,105,370 Agriculture, forestry, fisheries and mining 379,701 378,366 Construction 949,426 847,805 Transportation, communications and public enterprises 6,464,350 6,210,330 Wholesale and retail 6,143,314 5,903,439 Finance and insurance 3,901,580 3,549,762 Real estate and goods rental and leasing 15,604,512 14,314,582 Services 4,896,764 4,860,235 Municipalities 687,606 600,759 Lease financing 12,712 18,476 Consumer (1) 15,886,487 15,506,486 Others 2,109,447 1,893,474 Total domestic 67,690,579 64,189,084 Foreign: Public sector 291,238 440,236 Financial institutions 9,283,249 8,311,518 Commerce and industry 30,369,262 28,838,245 Lease financing 295,199 290,097 Others 5,214,300 3,884,519 Total foreign 45,453,248 41,764,615 Gross loans and advances 113,143,827 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) (324,830 ) Less: Allowance for loan losses (864,114 ) (993,054 ) Carrying amount ¥ 111,891,134 ¥ 104,635,815 (1) The balance in Consumer mainly consists of housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. The following tables show a disaggregation of the structured finance loans and advances balances, where the repayment source is limited to the cash flows generated by a particular business or asset, and the balances of secured or unsecured consumer loans at March 31, 2023 and 2022. These loans and advances are included in the preceding tables. Structured finance: At March 31, 2023 2022 (In millions) Real estate finance ¥ 4,581,928 ¥ 3,689,571 Project finance 6,283,946 5,828,182 Other structured finance 509,334 497,444 Total structured finance ¥ 11,375,208 ¥ 10,015,197 Consumer: At March 31, 2023 2022 (In millions) Secured loans (1) ¥ 11,386,978 ¥ 11,311,593 Unsecured loans 4,499,509 4,194,893 Total consumer ¥ 15,886,487 ¥ 15,506,486 (1) The secured loans and advances mainly represent housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. Credit quality analysis The following tables set forth information about the gross carrying amount of financial assets and the exposure to credit risk on loan commitments and financial guarantee contracts by stage allocation and internal rating grades of SMBC. Refer to Note 2 “Summary of Significant Accounting Policies” for information on stage allocation. Also refer to Note 46 “Financial Risk Management” for information on obligor grading system of SMBC. At March 31, 2023 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Normal J1-6 ¥ 47,453,523 ¥ 289,316 ¥ — ¥ 47,742,839 G1-6 34,975,850 1,177,231 — 36,153,081 Japanese government and local municipal corporations 2,981,570 — — 2,981,570 Other (1) 22,843,553 291,913 — 23,135,466 Requiring caution J7 — 838,655 — 838,655 G7 — 842,888 — 842,888 Other (1) — 278,666 — 278,666 Impaired (2) — — 1,170,662 1,170,662 Gross loans and advances 108,254,496 3,718,669 1,170,662 113,143,827 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) Less: Allowance for loan losses (187,455 ) (240,494 ) (436,165 ) (864,114 ) Carrying amount ¥ 111,891,134 (1) The balance of “Other” includes housing loans, which amounted to ¥10,697,842 million and ¥16,624 million for the borrower category of Normal and Requiring Caution, respectively. (2) “Impaired” refers to loans and advances to borrowers with obligor grades not higher than 7R. At March 31, 2022 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Normal J1-6 ¥ 44,334,449 ¥ 378,857 ¥ — ¥ 44,713,306 G1-6 30,840,638 1,100,849 — 31,941,487 Japanese government and local municipal corporations 2,777,135 — — 2,777,135 Other (1) 22,894,567 93,025 — 22,987,592 Requiring caution J7 — 922,423 — 922,423 G7 — 987,573 — 987,573 Other (1) — 218,089 — 218,089 Impaired (2) — — 1,406,094 1,406,094 Gross loans and advances 100,846,789 3,700,816 1,406,094 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (324,830 ) Less: Allowance for loan losses (162,919 ) (247,020 ) (583,115 ) (993,054 ) Carrying amount ¥ 104,635,815 (1) The balance of “Other” includes housing loans, which amounted to ¥10,575,167 million and ¥17,600 million for the borrower category of Normal and Requiring Caution, respectively. (2) “Impaired” refers to loans and advances to borrowers with obligor grades not higher than 7R. Modified loans and advances that were subject to lifetime ECL measurement million fiscal years ended March 31, 2023 and 2022, respectively. The net modification gain or loss is not material. At March 31, 2023 12-month Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loan commitments and financial guarantees (1) Gross carrying amount ¥ 43,212,638 ¥ 1,009,650 ¥ 68,585 ¥ 44,290,873 Allowance for off-balance 48,584 36,163 15,241 99,988 At March 31, 2022 12-month Lifetime ECL Lifetime ECL Total (In millions) Loan commitments and financial guarantees (1) Gross carrying amount ¥ 39,125,698 ¥ 874,122 ¥ 57,740 ¥ 40,057,560 Allowance for off-balance 34,473 41,756 12,034 88,263 (1) Loan commitments are the undrawn components of loan commitments on which ECL can be separately identified from those on the drawn components. Movements in ECL allowance The following tables show reconciliations from the opening balance to the closing balance of the ECL allowance by class of financial instrument. 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost (1) Balance at April 1, 2021 ¥ 170,156 ¥ 255,909 ¥ 423,222 ¥ 849,287 Transfer to 12-month 8,140 (5,225 ) (2,915 ) — Transfer to lifetime ECL not credit-impaired (9,170 ) 13,747 (4,577 ) — Transfer to lifetime ECL credit-impaired (4,251 ) (55,867 ) 60,118 — Net transfers between stages (5,281 ) (47,345 ) 52,626 — Provision (credit) for loan losses (8,715 ) 29,062 248,713 269,060 Charge-offs — — 166,553 166,553 Recoveries — — 13,403 13,403 Net charge-offs — — 153,150 153,150 Others ( 2 6,759 9,394 11,704 27,857 Balance at March 31, 2022 162,919 247,020 583,115 993,054 Transfer to 12-month 2,300 (2,037 ) (263 ) — Transfer to lifetime ECL not credit-impaired (3,495 ) 6,485 (2,990 ) — Transfer to lifetime ECL credit-impaired (9,959 ) (14,605 ) 24,564 — Net transfers between stages (11,154 ) (10,157 ) 21,311 — Provision (credit) for loan losses 29,264 (5,591 ) 114,503 138,176 Charge-offs — — 310,284 310,284 Recoveries — — 16,948 16,948 Net charge-offs — — 293,336 293,336 Others ( 2 6,426 9,222 10,572 26,220 Balance at March 31, 2023 ¥ 187,455 ¥ 240,494 ¥ 436,165 ¥ 864,114 (1) “Loans and advances at amortized cost” includes allowance for undrawn components of loan commitments issued to retail customers which cannot be separately identified from that for the drawn components. (2) Others mainly include foreign exchange translations. For the fiscal year ended March 31, 2023, the ECL allowance decrease d million at March 31, 2022 million at March 31, 2023. The decrease was primarily due to the charge-offs of the credit-impaired loans of certain large borrowers, which was partially offset by additional adjustments to the ECL allowance for the portfolios affected by the rising interest rates in foreign countries due to the global monetary tightening, the subsequent effects following the mitigation of the COVID-19 pandemic and the situation in Russia and Ukraine. As for the allowance for 12-month million for the fiscal year ended March 31, 2023, primarily due to an increase in the provision for loan losses for newly originated loans and the additional adjustments to the ECL allowance especially for the portfolio affected by the rising interest rates in foreign countries due to the global monetary tightening. As for the allowance for lifetime ECL not credit-impaired, it decreased million for the fiscal year ended March 31, 2023, primarily due to a decrease in the provision for loan losses of existing borrowers by collection of loans, which was partially offset by the additional adjustments to the ECL allowance for some portfolios of loans and advances. As for the allowance for lifetime ECL credit-impaired, it decreased million for the fiscal year ended March 31, 2023, primarily due to the charge-offs of the credit-impaired loans of certain large borrowers. As a result, the total ECL allowance decreased million for the fiscal year ended March 31, 2023. For additional information, refer to Note 3 “Critical Accounting Estimates and Judgments.” 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loan commitments and financial guarantees (1) Balance at April 1, 2021 ¥ 33,034 ¥ 35,480 ¥ 7,181 ¥ 75,695 Net transfers between stages (816 ) 937 (121 ) — Provision for off-balance 605 5,339 4,974 10,918 Others 1,650 — — 1,650 Balance at March 31, 2022 34,473 41,756 12,034 88,263 Net transfers between stages 90 (1,054 ) 964 — Provision (credit) for off-balance 12,584 (4,539 ) 2,243 10,288 Others 1,437 — — 1,437 Balance at March 31, 2023 ¥ 48,584 ¥ 36,163 ¥ 15,241 ¥ 99,988 (1) ECL allowance for loan commitments is that for the undrawn components of loan commitments, which can be separately identified from that for the drawn components. Trading assets, financial assets at fair value through profit or loss and investment securities The following tables show an analysis of trading assets, financial assets at fair value through profit or loss and debt instruments at amortized cost and at fair value through other comprehensive income based on the external rating system at March 31, 2023 and 2022, excluding instruments with equity features. Collateral is generally not obtained directly from the issuers. At March 31, 2023 Trading assets (1) Financial assets at (1) Debt instruments at amortized cost (1)(2) Debt instruments at (1)(2) (In millions) AAA ¥ 644,180 ¥ 6,000 ¥ — ¥ 10,034,033 AA- 3,147,681 31,296 165,593 11,992,005 A- 223,843 14,669 — 399,783 Lower than A- 126,281 85,739 68,995 984,062 Unrated 13,343 600 979 173,750 Total ¥ 4,155,328 ¥ 138,304 ¥ 235,567 ¥ 23,583,633 At March 31, 2022 Trading assets (1) Financial assets at (1) Debt instruments at amortized cost (1)(2) Debt instruments at (1)(2) (In millions) AAA ¥ 519,262 ¥ 7,999 ¥ — ¥ 8,634,719 AA- 2,437,286 36,147 25,741 18,225,704 A- 243,090 20,836 — 670,840 Lower than A- 195,008 89,955 57,646 863,446 Unrated 3,365 677 567 192,349 Total ¥ 3,398,011 ¥ 155,614 ¥ 83,954 ¥ 28,587,058 (1) The amounts represent fair value for trading assets and financial assets at fair value through profit or loss, whereas they represent the gross carrying amount for debt instruments at amortized cost and at fair value through other comprehensive income. (2) There were no debt instruments at amortized cost or debt instruments at fair value through other comprehensive income subject to lifetime ECL at March 31, 2023 and 2022. Credit risk from derivative financial instruments The Group maintains control limits on derivative positions, by both amount and term. At any one time, the amount subject to credit risk is limited to the fair value of derivative financial instruments that are favorable to the Group (i.e., assets where their fair value is positive). The Group’s credit risk from derivatives is mitigated where possible through netting agreements whereby derivative assets and liabilities with the same counterparty can be offset. Netting agreements, such as the ISDA master agreement, allow the netting of obligations arising under all of the derivative transactions that the agreement covers upon the counterparty’s default, regardless of maturity and currency, resulting in a single net claim against the counterparty. The Group’s credit risk is also mitigated by collateral arrangements through the credit support annex, resulting in collateral delivered or received regularly based on the replacement costs of derivatives. Market Risk and Liquidity Risk Market risk is the possibility that fluctuations in interest rates, foreign exchange rates, stock prices or other market prices will change the market value of financial products, leading to a loss. The purpose of market risk management is to keep the market risk exposure to a permissible level relative to capital. Liquidity risk is defined as the uncertainty around the ability to meet debt obligations without incurring unacceptably large losses. An example of such risk is the possible inability to meet current and future cash flow/collateral needs, both expected and unexpected. In such cases, the Group may be required to raise funds at less than favorable rates or be unable to raise sufficient funds for settlement. The purpose of liquidity risk management is to ensure that the Group is in a position to address its liquidity obligations through monitoring the liquidity gap between assets and liabilities, and by maintaining highly liquid supplementary funding resources. On the basis of the Group-wide basic policies for risk management, the Group has a quantitative management process to control market and liquidity risks on a Group-wide basis. The Group at least annually reviews and identifies which companies primarily carry the market and liquidity risks within the Group. The Group sets permissible level limits of risk for each identified company in consideration of those companies’ business plans. The Group ensures that each identified company establishes a risk management system that is appropriate to the risks it faces, and has built-in Framework for market and liquidity risk management The board of directors authorizes important matters related to the management of market and liquidity risks, such as the basic policies and risk appetite, which are decided by the Management Committee. The Corporate Risk Management Department, which is independent from the business units that directly handle market transactions, manages market and liquidity risks in an integrated manner. The Corporate Risk Management Dep |
Interest Rate Benchmark Reform
Interest Rate Benchmark Reform | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Interest Rate Benchmark Reform | 47 INTEREST RATE BENCHMARK REFORM The Group put in place a Group-wide IBOR transition project team in May 2019 involving all the Group’s business lines and functions. This project team’s objective was to provide smooth and efficient global coordination for the transition from IBOR to mid-2023. Interest rate benchmark reform exposes the Group to various risks. The key risks identified include conduct risk, litigation risk, operational risk, market risk and accounting risk. However, those risks have not materialized at March 31, 2023. The progress continues to be monitored and reported regularly to management. As of March 31, 2023, as a result of efforts, including necessary system developments, negotiation of contracts with customers and taking part in large scale transition events at Central Counterparty Clearing Houses such as the Japan Securities Clearing Corporation and London Clearing House, the Group had transitioned all of its financial instruments linked to the interest rate benchmarks whose settings ceased at the end of 2021. The Group continues the transition of financial instruments referencing the USD LIBOR settings ceasing as of June 30, 2023. The Group ceased entering into new contracts referencing USD LIBOR by December 31, 2021, other than for limited circumstances in accordance with the regulatory guidance. The Group has reduced the exposure by negotiating contracts with customers and taking part in large scale transition events held in April and May 2023 at Central Counterparty Clearing Houses such as the London Clearing House. The Group continues to engage with customers to remediate the remaining exposure. The following tables show quantitative information about financial instruments that have yet to be transitioned to an alternative benchmark rate at March 31, 2023 and 2022. At March 31, 2023 USD (1) Others (1) (2) (In billions) Carrying amount of non-derivative ¥ 9,568 ¥ — Carrying amount of non-derivative 1,351 — Derivative notional amounts 247,066 — At March 31, 2022 USD (1) Others (1) (2) (In billions) Carrying amount of non-derivative financial assets ¥ 13,330 ¥ 370 Carrying amount of non-derivative financial liabilities 1,344 — Derivative notional amounts 221,161 1,756 (1) The amounts in the table above are the aggregation of the amounts used for regulatory reporting of SMFG, SMBC, SMBC’s subsidiaries and SMBC Nikko Securities. (2) “Others” consists of JPY and GBP LIBOR contracts, most of which include contracts that will switch to using alternative reference rates at the next reset after March 31, 2023 and 2022. It also includes, to a limited extent, synthetic LIBOR contracts that the Group utilized as a temporary solution. |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Related-Party Transactions | 48 RELATED-PARTY TRANSACTIONS Transactions with Related Parties The Group considers that its related parties include subsidiaries, associates, joint ventures, key management personnel and close family members of key management personnel. Any transactions between the Group and its subsidiaries meet the definition of related-party transactions. However, because these transactions are eliminated on consolidation, they are not disclosed as related-party transactions. Transactions between the Group and its related parties are conducted on substantially the same terms as third-party transactions. The transaction amounts included in the accounts, in aggregate, by category of related party were as follows: Transactions with associates, joint ventures and other entities At March 31, 2023 2022 (In millions) Assets: Loans and advances ¥ 2,276,216 ¥ 2,060,472 Others 186,617 33,957 Liabilities: Deposits ¥ 290,452 ¥ 315,500 Others 56,801 36,406 For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income statements: Income (interest income, fee and commission income, and others) ¥ 87,521 ¥ 68,780 ¥ 55,409 Expense (interest expense and others) 43,473 25,046 34,811 Financial guarantees issued by the Group for its associates at March 31, 2023 and 2022 were ¥285,898 million and ¥266,452 million, respectively. Loan commitments to associates and joint ventures at March 31, 2023 and 2022 were ¥1,018,229 million and ¥938,335 million, respectively. Transactions with key management personnel and their close family members Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly. The Group considers the members of the board of directors and corporate executive officers of SMFG to constitute key management personnel for the purpose of this disclosure required under IAS 24 “Related Party Disclosures.” At March 31, 2023 2022 (In millions) Assets: Loans and advances ¥ 44 ¥ — Liabilities: Deposits ¥ 2,865 ¥ 3,256 Others 129 59 Compensation of Key Management Personnel The following table presents the compensation expenses of key management personnel. For the fiscal year ended March 31, 2023 2022 2021 (In millions) Short-term employee benefits ¥ 1,537 ¥ 1,571 ¥ 1,506 Share-based compensation 461 457 383 The details of the share-based compensation plan are described in Note 40 “Share-Based Payment.” There were no |
Principal Subsidiaries
Principal Subsidiaries | 12 Months Ended |
Mar. 31, 2023 | |
Investments accounted for using equity method [abstract] | |
Principal Subsidiaries | 4 9 PRINCIPAL SUBSIDIARIES Principal Subsidiaries The Group’s principal subsidiaries at March 31, 2023 are shown in the list below. The Group consolidates all entities that the Group controls. The Group controls an entity when the Group is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Principal domestic subsidiaries Company Name Proportion of (1) Proportion (1) Main Business (%) (%) Sumitomo Mitsui Banking Corporation 100.0 100.0 Commercial banking SMBC Trust Bank Ltd. 100.0 100.0 Trust banking SMBC Guarantee Co., Ltd. 100.0 100.0 Credit guarantee SMBC Nikko Securities Inc. 100.0 100.0 Securities Sumitomo Mitsui Card Company, Limited 100.0 100.0 Credit card SMBC Finance Service Co., Ltd. 100.0 100.0 Credit card, consumer credit and installment transaction SMBC Consumer Finance Co., Ltd. 100.0 100.0 Consumer lending SMBC Mobit Co., Ltd. 100.0 100.0 Consumer lending The Japan Research Institute, Limited 100.0 100.0 System development, data processing, management consulting and economic research Sumitomo Mitsui DS Asset Management Company, Limited 50.1 50.1 Investment management, and investment advisory and agency Alternative Investment Capital Limited 60.0 60.0 Investment management and investment advisory NCore Co., Ltd. 51.0 51.0 Data processing service and consulting SMBC Venture Capital Co., Ltd. 100.0 100.0 Venture capital SMBC Consulting Co., Ltd. 98.3 98.3 Management consulting and information services Japan Pension Navigator Co., Ltd. 69.7 69.7 Operational management of defined contribution pension plans (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. Principal foreign subsidiaries Company Name Country of Proportion of (1) Proposition (1) Main Business (%) (%) SMBC Bank International plc U.K. 100.0 100.0 Commercial banking Sumitomo Mitsui Banking Corporation China 100.0 100.0 Commercial banking PT Bank BTPN Tbk Indonesia 98.4 93.4 (2) Commercial banking SMBC Americas Holdings, Inc. U.S.A. 100.0 100.0 Bank holding company Manufacturers Bank U.S.A. 100.0 100.0 Commercial banking Banco Sumitomo Mitsui Brasileiro S.A Brazil 100.0 100.0 Commercial banking JSC Sumitomo Mitsui Rus Bank Russia 100.0 100.0 Commercial banking SMBC Bank EU AG Germany 100.0 100.0 Commercial banking Sumitomo Mitsui Banking Corporation Malaysia Berhad Malaysia 100.0 100.0 Commercial banking SMBC Leasing and Finance, Inc. U.S.A. 100.0 100.0 Leasing SMBC Nikko Securities America, Inc. U.S.A. 100.0 100.0 Securities SMBC Nikko Capital Markets Limited U.K. 100.0 100.0 Securities SMBC Capital Markets, Inc. U.S.A. 100.0 100.0 Derivatives TT International Asset Management Ltd U.K. 100.0 100.0 Investment management, and investment advisory and agency Fullerton India Credit Company Limited (3) India 74.9 74.9 Financial services (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. (2) During the fiscal year ended March 31, 2020, the Group disposed of 5.0% equity interest in PT Bank BTPN Tbk to a third party investor. The disposal was undertaken to ensure that PT Bank BTPN Tbk is compliant with the free float requirement under the Indonesia Stock Exchange’s Rule. The Group had also entered into a commercial arrangement where the economic exposure resulting from the disposal is being retained. Therefore, the disposal has not resulted in a decrease in the Group’s ownership interests. (3) Fullerton India Credit Company Limited changed its corporate name to SMFG India Credit Company Limited on May 11, 2023. The Group does not control some entities despite the fact that the Group holds more than 50% of their share capital, because the Group has entered into agreements with other investors to share or give those investors the power to govern the entities’ financial and operating policies over these investees. Some of the Group’s subsidiaries may be subject to restrictions on the ability to transfer funds to the Company in the form of cash dividends or to repay loans or advances, which include capital adequacy requirements imposed by the governments and central banks, and the Companies Act of Japan restrictions relating to dividends. In addition, the Group pledges assets as collateral to secure payables under repurchase agreements, securities lending transactions and securitizations, borrowings or for cash settlements, margins on derivative transactions and certain other purposes. The details of assets pledged are described in Note 39 “Assets Pledged and Received as Collateral.” |
Structured Entities
Structured Entities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Structured Entities | 50 STRUCTURED ENTITIES A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. It often has some or all of the following features or attributes: • restricted activities; • a narrow and well-defined objective; • insufficient equity to permit the structured entity to finance its activities without subordinated financial support; or • financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches). During the normal course of business, the Group engages in numerous transactions involving structured entities. These structured entities are primarily used to provide the Group and its clients with efficient access to funds or investment opportunities, mainly through securitizations, investment funds and structured finance. Consolidated Structured Entities Structured entities are consolidated if they are controlled by the Group in accordance with the accounting policy as described in Note 2 “Summary of Significant Accounting Policies.” The consolidated structured entities include asset backed commercial paper (“ABCP”) conduits which purchase financial assets such as trade accounts receivable and lease receivables by issuing commercial paper to third-party investors. The Group has contractual agreements to provide liquidity and credit enhancement facilities which can be utilized by those structured entities upon their request. At March 31, 2023 and 2022, the consolidated ABCP conduits had total assets of ¥873,672 million and ¥806,524 million, respectively. The total notional amounts of the liquidity and credit enhancement facilities provided by the Group to the consolidated ABCP conduits at March 31, 2023 and 2022 were ¥1,468,609 m The Group did not provide any financial or other support, without having a contractual obligation to do so, to consolidated structured entities during the fiscal years ended March 31, 2023 and 2022. Unconsolidated Structured Entities The following tables represent the carrying amounts of the Group’s interests in unconsolidated structured entities recognized in its consolidated statements of financial position by line item and the maximum exposure to loss from its interests at March 31, 2023 and 2022. At March 31, 2023 Securitizations Investment Structured Others Total (In millions) Interests in unconsolidated structured entities recognized in: Trading assets ¥ 5,197 ¥ 44,432 ¥ — ¥ — ¥ 49,629 Financial assets at fair value through profit or loss 292 669,880 89,796 — 759,968 Investment securities 145,351 52,476 — 193 198,020 Loans and advances 3,581,390 — 8,629,262 612,876 12,823,528 Total ¥ 3,732,230 ¥ 766,788 ¥ 8,719,058 ¥ 613,069 ¥ 13,831,145 Maximum exposure to loss from interests in unconsolidated structured entities ¥ 5,245,346 ¥ 767,810 ¥ 10,073,000 ¥ 729,634 ¥ 16,815,790 At March 31, 2022 Securitizations Investment Structured Others Total (In millions) Interests in unconsolidated structured entities recognized in: Trading assets ¥ 11,149 ¥ 60,168 ¥ — ¥ — ¥ 71,317 Financial assets at fair value through profit or loss 274 976,983 98,671 — 1,075,928 Investment securities 136,521 49,693 — 194 186,408 Loans and advances 2,817,366 — 7,099,366 601,975 10,518,707 Total ¥ 2,965,310 ¥ 1,086,844 ¥ 7,198,037 ¥ 602,169 ¥ 11,852,360 Maximum exposure to loss from interests in unconsolidated structured entities ¥ 4,289,574 ¥ 1,087,993 ¥ 8,117,297 ¥ 751,194 ¥ 14,246,058 An interest in a structured entity refers to contractual and non-contractual The maximum exposure to loss from the Group’s interests in unconsolidated structured entities represents the maximum amount of potential loss to which the Group is exposed through its involvement with unconsolidated structured entities. It is determined by the Group’s carrying amounts and the notional amounts of loan commitments and guarantees, without considering the probability of loss being incurred, or effects of collateral or other credit protection. The Group did not provide any financial or other support, without having a contractual obligation to do so, to unconsolidated structured entities during the fiscal years ended March 31, 2023 and 2022. Securitizations Structured entities for this product are established to securitize third-parties’ assets which mainly consist of auto loan receivables, residential and commercial mortgage loans and trade accounts receivables. These entities purchase those assets through loans or notes issued with multiple tranches. The Group provides loans and loan commitments to these entities or holds notes issued by them, in some cases with credit loss protection through guarantees or other credit enhancements provided by the sellers. Investment Funds These funds are established for providing investment opportunities to investors by pooling money from them and investing mainly in equity and debt instruments based on a predetermined investment policy. The Group has invested in a number of these funds. Structured Finance Structured entities for this product are typically established to raise funds for the development of infrastructure, the production of natural resources, the development or acquisition of real estate properties, and the purchase of certain equipment such as vessels or aircrafts for lease transactions. The Group provides financing to these entities mainly in the form of loans, loan commitments, or notes, which are typically secured by entities’ assets or cash flows generated primarily by entities’ projects. Others The Group provides financing to other types of structured entities such as third-party structured entities and repackaging vehicles to facilitate its clients’ funding requirements. The Group provides loans and loan commitments to these entities. Sponsored Unconsolidated Structured Entities with No Interest Held by the Group The Group sponsors certain structured entities in which it has no interest. The Group is deemed to be a sponsor of a structured entity when the Group takes a leading role in determining its purpose and design, while providing operational support to ensure its continued operation. The income received from such sponsored unconsolidated structured entities was ¥26,865 million and ¥29,679 million for the fiscal years ended March 31, 2023 and 2022, respectively. The majority of the income was management fees included in “Fee and commission income” and was from investment funds managed by SMDAM, the Group’s asset management subsidiary. The carrying amount of assets transferred to these entities, which mainly consisted of investment funds, was ¥1,094,445 million and ¥1,922,459 million for the fiscal years ended March 31, 2023 and 2022, respectively. |
Acquisitions
Acquisitions | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Acquisitions | 5 1 ACQUISITIONS Fiscal Year Ended March 31, 2023 There were no material acquisitions that were accounted for as business combinations during the fiscal year ended March 31, 2023. Fiscal Year Ended March 31, 2022 Fullerton India Credit Company Limited On November 30, 2021, the Group acquired a 74.9% equity interest in Fullerton India Credit Company Limited (“Fullerton India”), which became the Group’s subsidiary. Fullerton India has a pan-India medium-sized The fair values of assets and liabilities of Fullerton India at the date of acquisition and the consideration paid were as follows: At November 30, 2021 (In millions) Assets: Cash and deposits with banks ¥ 37,495 Loans and advances 306,413 All other assets 58,612 Total assets ¥ 402,520 Liabilities: Borrowings ¥ 176,075 Debt securities in issue 135,445 All other liabilities 22,752 Total liabilities ¥ 334,272 Net assets 68,248 Non-controlling (17,130 ) Net assets acquired 51,118 Goodwill 179,197 Consideration ¥ 230,315 Consideration (1) : Cash ¥ 230,315 Total ¥ 230,315 Acquisition related costs recognized as an expense in “General and administrative expenses” in the consolidated income statement ¥ 2,093 (1) A contingent consideration is included in the contract, and payable upon a specific performance indicator of Fullerton India. As a result of estimating the indicator, the Group does not recognize the contingent consideration. The fair value of the financial assets acquired included ¥306,413 million of loans and advances. The gross contractual amounts receivable were ¥336,027 million, of which ¥30,273 million were expected to be uncollectible. The goodwill was attributable to the profitability of the acquired business and the synergies expected to arise after the acquisition. None of the goodwill recognized is expected to be deductible for income tax purposes. The revenue and profit or loss since the acquisition date to March 31, 2022 and pro forma financial information relating to Fullerton India are immaterial to the consolidated financial statements. The owner of non-controlling Cash consideration paid and cash acquired by obtaining control of the subsidiaries The total amount of cash consideration paid and cash acquired by obtaining control of subsidiaries during the fiscal year ended March 31, 2022 were as follows: For the fiscal year ended (In millions) Cash consideration paid ¥ (230,315 ) Cash and cash equivalents transferred as a result of the acquisitions 14,621 Cash consideration paid, net of cash and cash equivalents acquired by obtaining control of the subsidiaries ¥ (215,694 ) The amounts of assets and liabilities other than cash or cash equivalents in these subsidiaries were ¥387,899 million and ¥334,272 million, respectively. Fiscal Year Ended March 31, 2021 There were no material acquisitions that were accounted for as business combinations during the fiscal year ended March 31, 2021. |
Current and Non-current Distinc
Current and Non-current Distinction | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Current and Non-current Distinction | 5 2 CURRENT AND NON-CURRENT The following tables present an analysis of financial assets and liabilities, excluding cash and deposits with banks, trading assets and liabilities, and derivative financial instruments, by amounts recovered or settled, not more than twelve months or more than twelve months, at March 31, 2023 and 2022. At March 31, 2023 Amounts recovered or settled Not more than More than Total (In millions) Assets: Call loans and bills bought ¥ 5,569,961 ¥ 114,851 ¥ 5,684,812 Reverse repurchase agreements and cash collateral on securities borrowed 10,968,633 55,451 11,024,084 Financial assets at fair value through profit or loss 5,215 1,483,024 1,488,239 Investment securities: Debt instruments at amortized cost 49,631 185,936 235,567 Debt instruments at fair value through other comprehensive income 9,059,561 13,751,862 22,811,423 Equity instruments at fair value through other comprehensive income — 4,548,608 4,548,608 Loans and advances 39,254,388 72,636,746 111,891,134 Other financial assets 5,220,793 139,841 5,360,634 Liabilities: Deposits ¥ 168,635,510 ¥ 4,292,300 ¥ 172,927,810 Call money and bills sold 2,566,725 2,331 2,569,056 Repurchase agreements and cash collateral on securities lent 17,717,897 68,129 17,786,026 Financial liabilities designated at fair value through profit or loss 63,592 350,514 414,106 Borrowings 3,040,454 12,331,347 15,371,801 Debt securities in issue 3,651,276 8,333,718 11,984,994 Other financial liabilities 8,517,834 4,378 8,522,212 At March 31, 2022 Amounts recovered or settled Not more than More than Total (In millions) Assets: Call loans and bills bought ¥ 1,885,039 ¥ 80,096 ¥ 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed 11,265,507 38,423 11,303,930 Financial assets at fair value through profit or loss 4,589 1,690,996 1,695,585 Investment securities: Debt instruments at amortized cost 31,921 52,033 83,954 Debt instruments at fair value through other comprehensive income 10,533,166 17,533,800 28,066,966 Equity instruments at fair value through other comprehensive income — 4,598,485 4,598,485 Loans and advances 38,073,404 66,562,411 104,635,815 Other financial assets 5,009,619 300,220 5,309,839 Liabilities: Deposits ¥ 158,876,649 ¥ 3,716,843 ¥ 162,593,492 Call money and bills sold 1,084,723 45,277 1,130,000 Repurchase agreements and cash collateral on securities lent 20,021,309 91,853 20,113,162 Financial liabilities designated at fair value through profit or loss 117,783 337,951 455,734 Borrowings 9,069,845 11,514,806 20,584,651 Debt securities in issue 3,711,213 7,717,224 11,428,437 Other financial liabilities 7,715,499 94,178 7,809,677 |
Condensed Financial Information
Condensed Financial Information of Registrant (SMFG) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Condensed Financial Information of Registrant (SMFG) | 5 3 CONDENSED FINANCIAL INFORMATION OF REGISTRANT (SMFG) Condensed Statements of Financial Position At March 31, 2023 2022 (In millions) Assets: Deposits with SMBC ¥ 246,977 ¥ 319,147 Investments in SMBC 4,613,790 4,613,790 Loans to SMBC 9,796,649 9,069,425 Investments in other subsidiaries, associates and joint ventures 2,007,172 2,017,221 Other assets 293,522 209,656 Current tax assets 91,048 28,074 Total assets ¥ 17,049,158 ¥ 16,257,313 Liabilities and equity: Short-term borrowings from SMBC ¥ 1,487,650 ¥ 1,508,030 Long-term borrowings 355,265 308,976 Debt securities in issue due to other subsidiaries 14,889 7,301 Debt securities in issue 8,280,718 7,509,351 Other liabilities 67,757 67,735 Total liabilities 10,206,279 9,401,393 Shareholders’ equity 6,082,226 6,126,648 Other equity instruments holders’ equity 760,653 729,272 Total equity 6,842,879 6,855,920 Total equity and liabilities ¥ 17,049,158 ¥ 16,257,313 Condensed Income Statements For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income: Interest income from SMBC ¥ 235,386 ¥ 184,206 ¥ 170,777 Dividends from SMBC 437,850 376,757 272,952 Dividends from other subsidiaries, associates and joint ventures 15,951 45,609 31,914 Fees and commission income from subsidiaries 12,421 9,439 7,777 Other income 1,956 1,109 794 Total income 703,564 617,120 484,214 Expense: Interest expense to SMBC 5,546 4,751 4,313 Interest expense to other subsidiaries 4,830 4,779 4,320 Interest expense 220,397 169,526 154,298 Operating and other expense 68,659 37,982 31,806 Total expense 299,432 217,038 194,737 Profit before tax 404,132 400,082 289,477 Income tax expense (8,348 ) (7,942 ) (5,710 ) Net profit ¥ 412,480 ¥ 408,024 ¥ 295,187 Profit attributable to: Shareholders 401,170 397,293 282,065 Other equity instruments holders 11,310 10,731 13,122 Condensed Statements of Cash Flows For the fiscal year ended March 31, 2023 2022 2021 (In millions) Operating Activities: Profit before tax ¥ 404,132 ¥ 400,082 ¥ 289,477 Income taxes paid—net 387 (17,935 ) 79,396 Other operating activities—net 359,237 579,929 267,159 Net cash and cash equivalents provided by operating activities 763,756 962,076 636,032 Investing Activities: Loans provided to SMBC (727,223 ) (873,537 ) (750,713 ) Investments in subsidiaries (19,796 ) (233,576 ) (7,418 ) Investments in associates and joint ventures — (819 ) (52,849 ) Other investing activities—net (2,770 ) (5,953 ) (46,282 ) Net cash and cash equivalents used in investing activities (749,789 ) (1,113,885 ) (857,262 ) Financing Activities: Net increase (decrease) of short-term borrowings from SMBC (20,380 ) 230,000 50,000 Proceeds from issuance of long-term borrowings 61,042 86,390 10,625 Redemption of long-term borrowings (36,046 ) — — Proceeds from issuance of debt securities 1,191,048 969,480 921,603 Proceeds from issuance of other equity instruments 116,346 79,516 99,400 Redemption of debt securities (861,730 ) (831,880 ) (403,025 ) Redemption of other equity instruments (85,000 ) — (130,000 ) Dividends paid to shareholders (301,600 ) (274,058 ) (267,119 ) Coupons paid to other equity instruments holders (11,310 ) (10,731 ) (13,122 ) Purchases of treasury stock and proceeds from sales of treasury stock—net (138,507 ) 246 220 Net cash and cash equivalents provided by in) (86,137 ) 248,963 268,582 Net increase (decrease) of cash and cash equivalents (72,170 ) 97,154 47,352 Cash and cash equivalents at beginning of period 319,147 221,993 174,641 Cash and cash equivalents at end of period ¥ 246,977 ¥ 319,147 ¥ 221,993 Investments in subsidiaries, associates and joint ventures Investments in subsidiaries, associates and joint ventures are stated at cost. The Company recognizes dividend income from these companies when its right to receive payment is established. Investments in other subsidiaries, associates and joint ventures included equity investments in SMBC Nikko Securities Inc., Sumitomo Mitsui Card Company, Limited, SMBC Consumer Finance Co., Ltd., Sumitomo Mitsui DS Asset Management Company, Limited (“SMDAM”), Sumitomo Mitsui Finance and Leasing Company, Limited (“SMFL”) and others at March 31, 2023 and 2022. The country of incorporation and the proportion of ownership interest of the Company in these companies was the same as described in Note 11 “Investments in Associates and Joint Ventures,” and Note 4 9 Long-term obligations The Company had subordinated long-term borrowings amounting to ¥41 billion and ¥41 billion at March 31, 2023 and 2022, respectively, and had unsubordinated long-term borrowings amounting to ¥314 billion and ¥268 billion at March 31, 2023 and 2022, respectively. The Company also had subordinated bonds amounting to ¥1,098 billion and ¥954 billion, including ¥0.2 billion and ¥0.3 billion outstanding to its subsidiary, at March 31, 2023 and 2022, respectively, and had senior bonds amounting to ¥7,197 billion and ¥6,563 billion, including ¥15 billion and ¥7 billion outstanding to its subsidiary, at March 31, 2023 and 2022, respectively. For additional information, refer to Note 19 “Borrowings” and Note 20 “Debt Securities in Issue.” Guarantees The Company provided guarantee of ¥508 billion and ¥396 billion at March 31, 2023 and 2022, respectively, to the Deposit Protection Fund of the Association of German Banks with regard to the deposits of the SMBC Dusseldorf branch and SMBC Bank EU AG. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2023 | |
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Basis of Preparation | Basis of Preparation Compliance with International Financial Reporting Standards The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of measurement The consolidated financial statements have been prepared under the historical cost basis except for the following: • trading assets and liabilities are measured at fair value; • derivative financial instruments are measured at fair value; • financial assets and liabilities at fair value through profit or loss are measured at fair value; • investment securities at fair value through other comprehensive income are measured at fair value; and • liabilities and the assets recognized in consolidated statements of financial position in respect of defined benefit plans are the present value of the defined benefit obligation less the fair value of plan assets. Functional and presentation currency The consolidated financial statements are presented in Japanese yen, which is also the Company’s functional currency. All financial information presented in Japanese yen has been rounded to the nearest million, except as otherwise indicated. Critical accounting estimates and judgments The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the accounting policies. Actual results may differ from these estimates. The notes to the consolidated financial statements set out areas involving a higher degree of judgment or complexity, or areas where assumptions are significant to the consolidated financial statements, such as allowance for loan losses (Notes 10 and 33), fair value of financial instruments (Note 44), impairment of property, plant and equipment (Note 12), impairment of intangible assets (Note 14), provision for interest repayment (Note 21), retirement benefits (Note 24) and deferred tax assets (Note 23). Refer to Note 3 “Critical Accounting Estimates and Judgments” for further information. |
New and Amended Accounting Standards Adopted by the Group | New and Amended Accounting Standards Adopted by the Group During the fiscal year ended March 31, 2023, a number of amendments to standards have become effective; however, they have not resulted in any material changes to the Group’s accounting policies, except as described below. International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12) In May 2023, the IASB issued amendments to IAS 12 “Income Taxes” to give entities temporary mandatory relief from accounting for deferred taxes arising from the Organization for Economic Co-operation and Development’s (“OECD”) international tax reform. The amendments are effective immediately upon their issue and retrospectively in accordance with IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors,” except for some targeted disclosure requirements which become effective for annual reporting periods beginning on or after January 1, 2023. The Group has applied the temporary exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. |
Consolidation | Consolidation Subsidiaries Subsidiaries are all entities controlled by the Group. The Group controls an entity when it is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The Group considers all facts and circumstances whether it controls an entity. Where the relevant activities are directed through voting or similar rights, the Group considers that it controls an entity if it has the existing rights that give it the current ability to direct the operating and financing policies of the entity, in general by having a shareholding of more than 50% of the voting rights. The existence and effect of potential voting rights that are deemed to be substantive are taken into account when assessing whether the Group controls another entity. Where the voting rights are not the dominant factor in deciding who controls the entity, the assessment of control is more complex and requires greater use of judgment. The Group assesses whether it controls an entity considering all facts and circumstances, such as the purpose and design of the entity, the relevant activities and how to make decisions about those activities. The Group also determines whether it is acting as an agent or a principal in assessing whether it has control of another entity. An agent is a party primarily engaged to act on behalf and for the benefit of another party or parties and therefore does not control the entity. To make such judgments, the Group considers the overall relationship, especially all of the following factors: the scope of its decision-making authority over the entity, the rights held by other parties, the remuneration to which it is entitled in accordance with the remuneration agreement, and its exposure to variability of returns from other interests that it holds in the entity. The Group reassesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the elements of control. Subsidiaries are fully consolidated from the date on which the Group obtains control. They are deconsolidated from the date on which the Group loses control. The acquisition method is used to account for the business combinations including the acquisition of subsidiaries by the Group. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred, the liabilities incurred and the equity interests issued. Identifiable assets acquired and liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group’s previously held equity interest in the acquiree is remeasured at fair value at the acquisition date and any gain or loss is recognized in profit or loss. For each business combination, the Group measures any non-controlling non-controlling non-controlling non-controlling Inter-company transactions, balances and unrealized gains on transactions between the Group companies are eliminated on consolidation. Unrealized losses are also eliminated unless the transaction provides evidence of impairment of the asset transferred. The accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the accounting policies adopted by the Group. Non-controlling Changes in the Group’s ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. Interests in the equity of subsidiaries not attributable to the Group are reported in the consolidated statements of financial position as a separate component of equity as non-controlling non-controlling Associates and joint ventures An associate is an entity over which the Group has significant influence, but does not control the financial and operating policy decisions of the entity. Significant influence is generally presumed to exist when the Group holds 20% or more, but less than 50%, of the voting rights. Entities that are jointly controlled by more than one party, including the Group, may be determined to be a joint venture. The Group accounts for investments in associates and joint ventures using the equity method from the date on which they become associates or joint ventures. The Group discontinues the use of the equity method from the date on which the Group ceases to have significant influence or joint control over the investees. Under the equity method, the Group’s investments in associates and joint ventures are initially recognized at cost. The carrying amount of the investments are subsequently increased or decreased to recognize the Group’s share of the post-acquisition profit or loss of the associate or joint venture and other movements included directly in the equity of the associate or joint venture. The Group’s share of the results of associates and joint ventures is based on the financial statements of its associates and joint ventures, adjusted to conform with the accounting policies of the Group. Profits on transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in the associates or joint ventures. Losses are also eliminated to the extent of the Group’s interest in the associates or joint ventures unless the transaction provides evidence of impairment in the asset transferred. The carrying amounts of the investments in associates and joint ventures include goodwill (net of any accumulated impairment loss) arising on the acquisition of the interests in the entities. Because goodwill arising on the acquisition of the interest in an associate or joint venture is not separately recognized, it is not tested for impairment separately. Instead, the entire carrying amount of the investment in an associate or joint venture is tested for impairment as a single asset by comparing its recoverable amount, which is the higher of value in use and fair value less costs to sell, with its carrying amount, whenever there is any objective evidence that the investment is impaired. An impairment loss recognized in prior periods for the investment is reversed only if there has been a change in the estimates used to determine the recoverable amount of the investment since the last impairment loss was recognized. If this is the case, the carrying amount of the investment is increased to its recoverable amount. That increase is a reversal of an impairment loss. When the Group’s share of losses in an associate or joint venture exceeds the Group’s carrying amount of the investment, the Group does not recognize further losses, unless it has a binding obligation or has made payments on behalf of the entity. |
Segment Reporting | Segment Reporting The Group determines its operating segments based on the management approach, which requires operating segments to be identified on the basis of internal reports about components of the entity that are regularly reviewed by management, in order to allocate resources to a segment and to assess its performance. |
Foreign Currency Translation | Foreign Currency Translation Items included in the financial statements of each of the Group companies are measured using the currency of the primary economic environment in which the company operates (“the functional currency”). The consolidated financial statements are presented in Japanese yen, which is also the Company’s functional currency. Transactions and balances Foreign currency transactions that are denominated or settled in a foreign currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary items denominated in foreign currencies are translated using the exchange rate at the end of the reporting period. Foreign exchange gains and losses resulting from the retranslation and settlement of monetary items are recognized in the consolidated income statements. Non-monetary Non-monetary Foreign operations The assets and liabilities of foreign operations are translated into the presentation currency of the Group using the exchange rate at the end of the reporting period, and their income statements are translated using the exchange The exchange differences arising on the translation of a foreign operation are included in other comprehensive income within equity and subsequently included in profit or loss on the disposal or partial disposal of the operation. |
Financial Assets | Financial Assets Regular way purchases and sales of financial assets are recognized and derecognized IFRS 9 “Financial Instruments” requires all financial assets, including entire hybrid instruments, to be classified into three measurement categories, namely, amortized cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit or loss (“FVPL”), based on the business model within which they are held and their contractual cash flow characteristics. The Group has assessed the business models based on facts and circumstances at a portfolio level. Factors that are considered in determining the business model include policies and objectives for the relevant portfolio, how the performance and risks of the portfolio are managed, evaluated and reported to management, and the level of sales activity. The Group has assessed the contractual cash flow characteristics of financial assets with reference to whether the contractual cash flows are solely payments of principal and interest (“SPPI”). Principal is defined as the fair value of the financial asset at initial recognition but it may change over the life of the financial asset as amounts are repaid. Interest is defined as consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks such as liquidity risk and costs such as administrative costs associated with holding the financial asset for a particular period of time, as well as a profit margin. In assessing whether the contractual cash flows meet the conditions for SPPI, the Group considers the contractual terms of the financial asset. This includes assessing whether the financial asset contains a contractual term that could change the contractual cash flows so that it would not meet the conditions for SPPI, including leverage features, contingent events that would change the amount or timing of cash flows, contractual terms that limit the Group’s claim to cash flows from specified assets, and features that modify consideration of the time value of money. Financial assets measured at amortized cost Financial assets are measured at amortized cost if they are held within a business model whose objective is to hold the assets in order to collect contractual cash flows, and their contractual cash flows are SPPI. These financial assets are mainly included in “Loans and advances” and also in “Investment securities” in the consolidated statements of financial position. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets, and are subsequently measured at amortized cost using the effective interest method. Interest income on these financial assets using the effective interest method is recognized in “Net interest income” in the consolidated income statements. Financial assets measured at fair value through other comprehensive income Financial assets are measured at FVOCI if they are held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and their contractual cash flows are SPPI. Financial assets measured at FVOCI are included in “Investment securities” in the consolidated statements of financial position. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets, and are subsequently measured at fair value. Gains and losses arising from changes in the fair value of these financial assets are recognized in other comprehensive income, until they are derecognized. At the time of derecognition, the cumulative gains or losses previously recognized in other comprehensive income are reclassified to profit or loss and are recognized in “Net investment income” in the consolidated income statements. Interest income calculated using the effective interest method, foreign currency gains and losses, and impairment gains and losses are recognized in “Net interest income,” “Net trading income” and “Impairment charges on financial assets” in the consolidated income statements, respectively. In addition, the Group makes an irrevocable election at initial recognition, for particular non-trading Financial assets measured at fair value through profit or loss Any financial assets that do not meet the criteria of amortized cost or FVOCI are classified as FVPL, unless the Group makes an irrevocable election for non-trading Financial assets are classified as held for trading and are included in “Trading assets” in the consolidated statements of financial position, if they are acquired principally for the purpose of selling in the near term or if they are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Derivatives which are not designated as hedging instruments are classified as held for trading, and all derivatives are included in “Derivative financial instruments” in the consolidated statements of financial position. All derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. Financial assets mandatorily measured at FVPL, other than those held for trading and derivatives, are included in “Financial assets at fair value through profit or loss” in the consolidated statements of financial position. The financial assets mentioned above are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. Gains and losses arising from changes in the fair values of trading assets and derivatives held for trading, and interest and dividend income on trading assets are included in “Net trading income” in the consolidated income statements. Gains or losses arising from financial assets mandatorily measured at FVPL are included in “Net income from financial assets and liabilities at fair value through profit or loss” in the consolidated income statements. Additionally, financial assets measured at amortized cost or FVOCI can be designated at initial recognition to be measured at FVPL in order to eliminate or significantly reduce a measurement or recognition inconsistency. The Group does not make this designation. |
Financial Liabilities | Financial Liabilities Financial liabilities measured at amortized cost Financial liabilities, except for financial liabilities measured at FVPL, are mainly included in “Deposits,” “Borrowings,” and “Debt securities in issue” in the consolidated statements of financial position. They are initially recognized at fair value, net of transaction costs that are directly attributable to the issue of the financial liabilities, and are subsequently measured at amortized cost using the effective interest method. Interest expense on these financial liabilities measured at amortized cost using the effective interest method is recognized in “Net interest income” in the consolidated income statements. Financial liabilities measured at fair value through profit or loss Financial liabilities measured at FVPL consist of financial liabilities held for trading, derivatives whose fair values are negative and financial liabilities designated at FVPL. Financial liabilities are classified as held for trading if they are incurred principally for the purpose of repurchasing in the near term or if they are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Financial liabilities held for trading are included in “Trading liabilities” in the consolidated statements of financial position. Trading liabilities are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. Gains and losses arising from changes in the fair values of trading liabilities and interest expense on trading liabilities are included in “Net trading income” in the consolidated income statements. For derivatives other than the component of hybrid instrument, refer to “Financial assets measured at fair value through profit or loss.” The derivative component of a hybrid instrument containing both a derivative and non-derivative The Group applies a fair value option to certain financial liabilities which were issued by the Group’s securities subsidiary. As part of risk management, the Group enters into derivative transactions to offset the profit or loss of financial liabilities containing embedded derivatives, designated at FVPL under the fair value option. The Group can make an irrevocable election for each individual financial liability at initial recognition to designate it as measured at FVPL, if it meets one of the following criteria: • The designation eliminates or significantly reduces a measurement or recognition inconsistency (referred to as “an accounting mismatch”) that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases; • A group of financial liabilities or financial assets and financial liabilities is managed, and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the board of directors; or • The financial liability contains one or more embedded derivatives which significantly modify the cash flows and it is not clear with no analysis that separation is prohibited. The financial liabilities designated at FVPL are presented as “Financial liabilities designated at fair value through profit or loss” in the consolidated statements of financial position. Those liabilities are initially recognized at fair value with transaction costs being recognized in profit or loss, and are subsequently measured at fair value. The amount of changes in their fair values that is attributable to changes in own credit risk of the liabilities is recognized in other comprehensive income and subsequently not transferred to profit or loss. The amount of changes in their fair values except for the effects of changes in their own credit risk, gains or losses on derecognition and interest expense are included in “Net income from financial assets and liabilities at fair value through profit or loss” in the consolidated income statements. Financial liabilities are derecognized when they have been redeemed or otherwise extinguished. |
Hedge Accounting | Hedge Accounting The Group applies fair value hedge accounting and hedge accounting of net investments in foreign operations, in order to reflect the effect of risk management activities on its consolidated financial statements. Fair value hedges The Group applies fair value hedge accounting in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the risk of changes in the fair value of certain fixed rate financial assets and liabilities. The Group designates certain interest rate derivatives as hedging instruments. Changes in fair values of hedging instruments are recognized in the consolidated income statements, together with changes in fair value of the hedged item attributable to the hedged risk. The hedging gain or loss on the hedged item held at amortized cost adjusts the carrying amount of the hedged item, and is recognized in “Net trading income” in the consolidated income statements. If the hedged item is a financial asset measured at FVOCI, the hedging gain or loss on the hedged item is recognized in “Net trading income” in the consolidated income statements. If the hedge no longer meets the criteria for hedge accounting for reasons other than the derecognition of the hedged item, the adjustment to the hedged item for which the effective interest method is used, is amortized to profit or loss over the period to maturity of the hedged item. When the hedged item is derecognized, the adjustment is recognized immediately in the consolidated income statements. The Group also applies fair value hedge accounting in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the risk of changes in fair values of certain equity instruments elected to be measured at FVOCI. The Group designates equity derivatives as hedging instruments. Both the effective portion and ineffective portion of changes in the fair value of the hedging instruments are recognized in other comprehensive income, and amounts presented in other comprehensive income are not subsequently transferred to profit or loss. Hedges of net investments in foreign operations The Group applies hedge accounting of net investments in foreign operations in order to reflect in its consolidated financial statements the effect of risk management activities to mitigate the foreign currency risk of exchange differences arising from the translation of net investments in foreign operations. The Group designates currency derivatives and foreign currency denominated financial liabilities as hedging instruments. The effective portion of the gain or loss on the hedging instruments is recognized in other comprehensive income, whereas the ineffective portion of the gain or loss on the hedging instruments is recognized in “Net trading income” in the consolidated income statements. The cumulative gain or loss recognized in other comprehensive income is reclassified to profit or loss on the disposal or partial disposal of foreign operations. For further information about hedge accounting, see Note 7 “Derivative Financial Instruments and Hedge Accounting—Hedge accounting.” Interest Rate Benchmark Reform The Group applies “Interest Rate Benchmark Reform, Amendments to IFRS 9, IAS 39 and IFRS 7.” The amendments provide reliefs from applying specific hedge accounting requirements to hedging relationships directly affected by the interest rate benchmark reform only if the reform gives rise to uncertainties. The reliefs aim to ensure that the interest rate benchmark reform does not result in the discontinuance of hedge accounting. In accordance with the transition provisions, the amendments have been adopted retrospectively to hedging relationships that existed at the beginning of the reporting period or were designated thereafter. The reliefs adopted by the Group are described below. • Prospective assessments The Group has assumed that the interest rate benchmarks on which the hedged risk or the cash flows of the hedging instrument is based are not altered as a result of the interest rate benchmark reform in assessing whether there is an economic relationship between the hedged item and the hedging instrument. • Hedge of a non-contractually The Group has assessed whether a non-contractually The Group also applies “Interest Rate Benchmark Reform—Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16.” The amendments supplement the amendments to IFRS 9, IAS 39 “Financial Instruments: Recognition and Measurement” and IFRS 7 “Financial Instruments: Disclosures” issued in 2019 and focus on the effects on entities’ financial statements when entities replace the previous interest rate benchmark with an alternative interest rate benchmark as a result of the reform. The amendments provide a practical expedient for modifications of financial assets and financial liabilities required as a direct consequence of the reform and made on an economically equivalent basis. They also provide a temporary exception to specific hedge accounting requirements, and provide a relief when changes are made to hedge relationships as a result of the interest rate benchmark reform. The relief adopted by the Group is described below. • Hedge relationship The Group has assumed that changes to the hedge designation and hedge documentation due to the interest rate benchmark reform would not constitute the discontinuation of the hedge relationship nor the designation of a new hedging relationship. |
Offsetting Financial Instruments | Offsetting Financial Instruments Financial assets and liabilities are offset and the net amount is reported in the consolidated statements of financial position, only if the Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis or to realize the asset and settle the liability simultaneously. In all other situations, they are presented on a gross basis. |
Fair Value Measurement | Fair Value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value, the Group gives the highest priority to a quoted price in an active market for identical assets or liabilities. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no active market for the asset or liability, the Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure the fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. In cases where the Group manages a group of financial assets and financial liabilities on the basis of its net credit risk exposure, the fair value of the group of financial assets and financial liabilities is measured on the basis of the price that would be received to sell a net long position (i.e., an asset) or paid to transfer a net short position (i.e., a liability) for the credit risk exposure provided that certain criteria set forth in IFRS 13 “Fair Value Measurement” are met. Details of fair value measurement are described in Note 44 “Fair Value of Financial Assets and Liabilities.” |
Recognition of Deferred Day One Profit and Loss | Recognition of Deferred Day One Profit and Loss The best evidence of the fair value of a financial instrument at initial recognition is normally the transaction price (i.e., the fair value of the consideration given or received). However, if the fair value at initial recognition is not evidenced by a quoted price in an active market for an identical asset or liability nor based on a valuation technique that uses only data from observable markets, the difference between the fair value at initial recognition and the transaction price, commonly referred to as “day one profit and loss,” is not recognized as a gain or loss but is adjusted to be deferred. The Group has certain financial instruments, such as derivatives, hybrid financial instruments and certain loans and advances classified as FVPL where fair value is determined using valuation techniques for which not all inputs are observable in a market. Such a financial instrument is initially recognized at the transaction price which may be different from the fair value, and the day one profit and loss is not recognized as a gain or loss. The timing of recognition of the deferred day one profit and loss is determined on an instrument by instrument basis. It is either amortized over the life of the transaction, deferred until fair value of the instrument can be determined using data from observable markets, or realized due to redemption or sales of the instrument. |
Repurchase and Reverse Repurchase Agreements, and Securities Borrowing and Lending Agreements | Repurchase and Reverse Repurchase Agreements, and Securities Borrowing and Lending Agreements In the ordinary course of business, the Group lends or sells securities under agreements to repurchase them at a predetermined price on a future date (“repos”). Since substantially all the risks and rewards of ownership are retained by the Group, the securities remain on the consolidated statements of financial position and a liability is recorded in respect of the consideration received. On the other hand, the Group borrows or purchases securities under agreements to resell them at a predetermined price on a future date (“reverse repos”). Since the Group does not retain the risks and rewards of ownership of the financial assets, these transactions are treated as collateralized loans and the securities are not included in the consolidated statements of financial position. The Group measures repos and reverse repos at amortized cost. The difference between the sale and purchase price is accrued over the life of the transactions. Securities lent to counterparties remain on the consolidated statements of financial position. Securities borrowed are not recognized in the consolidated statements of financial position, unless these are sold to third parties, at which point the obligation to repurchase the securities is measured at fair value and included in “Trading liabilities” in the consolidated statements of financial position and any subsequent gain or loss is included in “Net trading income” in the consolidated income statements. For the fiscal years ended March 31, 2023 and 2022, there were no transactions pursuant to repurchase agreements, securities lending transactions or other transactions involving the transfer of financial assets with an obligation to repurchase such transferred assets that were treated as sales and hence derecognized for accounting purposes. |
Impairment of Financial Assets | Impairment of Financial Assets The expected credit losses (“ECL”) model is used for the recognition of impairment loss under IFRS 9. The ECL model applies to financial assets measured at amortized cost, and debt instruments at FVOCI, lease receivables, certain loan commitments and financial guarantee contracts. Under the ECL model, an entity is required to account for expected credit losses from initial recognition of financial instruments and to recognize full lifetime expected losses on a timely basis. Determining significant increase in credit risk At each reporting date, credit risk on a financial asset is assessed and a loss allowance is measured at an amount equal to the ECL resulting from default events that are possible within the next 12 months, if the credit risk has not increased significantly since initial recognition (“Stage 1”). A loss allowance is measured at an amount equal to the ECL resulting from all possible default events over the expected life of the financial assets which are assessed to have experienced a significant increase in credit risk since initial recognition (“Stage 2”) or the credit-impaired financial assets (“Stage 3”). The expected life of a financial asset is the maximum contractual period over which it is exposed to credit risk. However, for certain revolving facilities including both a loan and an undrawn component, such as retail overdrafts and credit card facilities, the contractual ability to demand repayment and cancel the undrawn commitment does not limit the exposure to credit losses to the contractual notice period. The expected life of these revolving facilities is derived from the behavioral life calculated based on historical data. Assessments on significant increases in credit risk are performed on an individual financial asset basis. The Group performs ECL recognition and measurement on a collective basis or an individual basis using reasonable and supportable information that is available without undue cost or effort, such as asset type, credit risk ratings, collateral collectability, past-due The Group determines whether there has been a significant increase in credit risk by comparing the risk of a default occurring on a financial instrument at the reporting date with that at the date of initial recognition, based on quantitative and qualitative assessments. As for the quantitative assessment, the Group measures increase of probability of default (“PD”) since initial recognition. If an obligor gets downgraded to a certain degree which reflects an increase of PD exceeding the threshold defined, a significant increase in credit risk is recognized. For example, origination obligor grade getting down by one to four grades is taken as a significant increase in credit risk where PD has increased since initial recognition. Numbers of obligor grade deterioration taken to identify significant increase in credit risk depend on credit quality at origination. The origination obligor grade with lower credit rating takes less downgrades to identify significant increase in credit risk than those with higher credit rating, due to the difference in increase of PD. Refer to Note 46 “Financial Risk Management” for information on obligor grading system of SMBC. As for the qualitative assessment, the Group evaluates credit risk characteristics of financial assets in accordance with the Group’s credit risk management practices. For example, certain financial assets that meet high credit risk criteria are transferred to Stage 2 from Stage 1. Moreover, financial assets whose principal and/or interest payments are more than 30 days past due are transferred to Stage 2. If there is no longer any observation of a significant increase in credit risk, the financial instrument will be transferred to Stage 1. Determining credit-impaired financial assets A financial asset is credit-impaired and classified to Stage 3 when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. The criteria that the Group uses to determine that a financial asset is credit-impaired include: • significant financial difficulty of an issuer or a borrower; • a default or delinquency as more than 90 days past due in interest or principal payments; • restructuring of a financial asset by the Group due to the borrower’s financial difficulties; • indications that a borrower or issuer will enter bankruptcy; and • the disappearance of an active market for that financial asset because of the borrower’s financial difficulties. If a financial asset is no longer credit-impaired, it will be transferred to Stage 2 or Stage 1. The definition of default used for ECL recognition and measurement is consistent with that used for the Group’s internal credit risk management purposes. The Group manages credit risk with an internal credit rating system, which consists of the borrower categories of substandard borrowers, potentially bankrupt borrowers, virtually bankrupt borrowers, and bankrupt borrowers defined as default for ECL application (see Note 46 “Financial Risk Management”). Purchased or originated credit-impaired financial assets (“POCI”) are financial assets considered credit-impaired at the time of initial recognition. They are measured at fair value on initial recognition and therefore no credit loss allowance is initially recognized. Subsequently, lifetime expected credit losses for POCI are measured as the difference between the financial asset’s amortized cost and the present value of future cash flows discounted at the financial asset’s credit-adjusted effective interest rate determined at initial recognition. Moreover, changes in lifetime expected credit losses are recognized as impairment charges. Measurement of Expected Credit Losses The Group measures ECL of a financial asset in a way that reflects an unbiased and probability-weighted amount, the time value of money, and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. The ECL models have been built by leveraging the PD, loss given default (“LGD”) and exposure at default (“EAD”) used in the Basel III regulatory framework, for instance by adjusting certain conservative factors in those PDs and LGDs. For financial assets at Stage 1 and Stage 2, the Group uses the 12-month 12-month The DCF method is used to measure the ECL, which is the difference between the financial asset’s carrying amount and the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate. If financial assets have a variable interest rate, the discount rate for measuring any impairment loss is the effective interest rate determined under the contract, for the current period. The estimated future cash flows are individually calculated taking into account factors including historical loss information, the appropriateness of the borrower’s business plan or operational improvement plan, the status of progress of its plan, the overall support from financial institutions, and the realizable value of any collateral held. Cash flows are probability-weighted by reference to different scenarios. The Group incorporates forward-looking information into the ECL measurement by obligor grading, macroeconomic factors and additional ECL adjustments as appropriate. Obligor-specific forward-looking information is reflected in the obligor grade as a qualitative assessment. Refer to Note 46 “Financial Risk Management” for information on obligor grading system of SMBC. To incorporate forward-looking information into the ECL models, the Group introduces an approach based on multiple scenarios. In this approach, three scenarios (base, upside and downside scenarios) are modelled to ensure an unbiased ECL calculation. Information considered in the development of the base scenario is aligned with information used for strategic planning, budgeting and risk management of the Group, and includes not only internal information but external information including economic data and forecasts publicly provided by Japanese governmental bodies, research institutes of the private-sector and international organizations conducting economic analysis and projections. The downside scenario is the adverse scenario and based on the stressed business environments such as serious economic recession and financial market disruption. Both the downside scenario and the upside scenario, which is the favorable scenario, are developed based on the premises of the base scenario and the past macroeconomic experiences. The Group has lower weights for the downside scenario and the upside scenario compared with the base scenario. Furthermore, additional ECL adjustments are applied in cases where known or expected risk factors or information have not been specifically considered in the ECL model and thus the ECL does not fully reflect current circumstances, events or conditions at relevant portfolio level. The Group has identified the key macroeconomic drivers impacting the credit risks and losses in each major portfolio of financial assets and has estimated relationships between those key drivers and credit risks and losses using an analysis of historical data. For domestic and foreign loans to wholesale customers, the key drivers for credit risks and losses are the growth rates of Japanese and global gross domestic product (“GDP”). For domestic loans to retail customers, the Japanese unemployment rate is applied as the key driver. Outcomes of the analysis are incorporated into PD for ECL recognition and measurement in a probability-weighted way. ECLs are recognized through loss allowance accounts. Changes in the carrying amount of the loss allowance accounts are recognized as an impairment gain or loss and included in “Impairment charges on financial assets” in the consolidated income statements. If a financial asset is determined to be uncollectible, it is written off against the related allowance for loan impairment. Uncollectible financial assets are normally written off when there is no reasonable expectation of further recovery after any collateral is foreclosed and the amount of the loss has been determined. Those assets primarily include loans to borrowers that have been legally or formally declared bankrupt and borrowers that may not have been legally or formally declared bankrupt but are essentially bankrupt. If contractual terms of a loan have been modified, it is required to recalculate the gross carrying amount of that loan and recognize a modification gain or loss in profit or loss. Moreover, it is required to assess whether there has been a significant increase in credit risk since initial recognition and the Group conducts analysis to monitor the change in credit risk subsequent to modification. However, if the new contractual terms are considered substantially different from the existing contractual terms, a new loan will be recognized and the existing loan will be derecognized. |
Property, Plant and Equipment | Property, Plant and Equipment All property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Additions and subsequent expenditures are capitalized only to the extent that they enhance the future economic benefits expected to be derived from the assets. Repairs and maintenance costs are expensed as incurred. Land is not depreciated. Depreciation of other assets is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives, as follows: • Buildings: 7–50 years; • Right of use assets: the shorter of the lease term and the estimated useful life, which is generally 1–28 years; and • Assets for rent and others: 2–40 years. The residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount. These are included in “Other income” and “Other expenses” in the consolidated income statements. |
Intangible Assets | Intangible Assets Goodwill Goodwill represents the excess of the aggregate of the consideration transferred, the amount of any non-controlling unit may be impaired. When the Group disposes of all or part of a cash-generating unit to which goodwill is allocated, the goodwill associated with the cash-generating unit is included in the carrying amount of the cash-generating unit when determining the gain or loss on disposal. Software Purchased software is carried at cost less accumulated amortization and accumulated impairment losses, if any. Expenditure on internally generated software is recognized as an asset if the Group can demonstrate its intention and ability to complete the development and use the software in a manner that will generate future economic benefits and it can reliably measure the costs to complete the development. Internally generated software is carried at capitalized cost less accumulated amortization and accumulated impairment losses, if any. Costs associated with maintaining software are expensed as incurred. Software is amortized using the straight-line method over the estimated useful life, which is generally 5 to 10 years. Contractual customer relationships and trademarks Contractual customer relationships and trademarks acquired in a business combination are recognized at fair value at the acquisition date. Contractual customer relationships and trademarks are carried at cost less accumulated amortization or impairment losses, if any. Contractual customer relationships and trademarks are amortized using the straight-line method over their estimated useful lives, which are generally 5 to 20 years. Other intangible assets Other intangible assets primarily consist of leasehold rights. They are recognized only when the Group legally obtains the rights and can reliably measure the fair value. Leasehold rights have an indefinite useful life and they are not amortized but are tested for impairment annually. |
Impairment of Non-Financial Assets | Impairment of Non-Financial Non-financial For the purposes of conducting impairment reviews, assets are grouped into cash-generating units to which the assets belong. Non-financial |
Assets Held for Sale | Assets Held for Sale Non-current classified as held for sale, the assets or disposal groups must be available for immediate sale in their present condition and their sale must be highly probable. Such assets or disposal groups are generally measured at the lower of their carrying amount and fair value less costs to sell. |
Leases | Leases The Group assesses whether the contract is, or contains, a lease at the inception of a contract. A lease is a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. As lessee At the commencement date, the Group recognizes a lease liability and measures it at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, or the Group’s incremental borrowing rate if the interest rate implicit in the lease cannot be readily determined. After the commencement date, the Group measures the lease liability by increasing the carrying amount to reflect interest on the lease liability and reducing the carrying amount to reflect the lease payments made. The lease liabilities are included in “Borrowings” in the consolidated statements of financial position. The Group also recognizes a right of use asset and measures it at cost at the commencement date. The cost of the right of use asset comprises the amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date, less any lease incentives received and any initial direct costs incurred. After the commencement date, the Group measures the right of use asset applying a cost model. The right of use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right of use asset or the end of the lease term. The lease term is determined as the non-cancellable As lessor A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. When the Group acted as a lessor in an operating lease, the underlying assets were included in “Property, plant and equipment” in the consolidated statements of financial position and were depreciated over their expected useful lives on a basis consistent with similar assets in property, plant and equipment. Lease payment from operating leases as income was recognized on a straight-line basis over the lease term and included in “Other income” in the consolidated income statements. Initial direct costs incurred in obtaining an operating lease were added to the carrying amount of the underlying assets and recognized as an expense on a straight-line basis over the lease term. When the Group was a lessor in a finance lease, the lease receivables were recognized at an amount equal to the net investment in the lease and included in “Loans and advances” in the consolidated statements of financial position. Finance income was recognized over the lease term based on a pattern reflecting a constant periodic rate of return on the net investment in the finance lease and included in “Interest income” in the consolidated income statements. Sale and leaseback A sale and leaseback qualifies as a sale if the buyer-lessor obtains control of the underlying asset. The seller-lessee measures a right of use asset arising from the leaseback at the proportion of the previous carrying amount of the asset that relates to the right of use retained. The seller-lessee recognizes only the amount of any gain or loss that relates to the rights transferred to the buyer-lessor. If the fair value of the consideration for the sale of an asset does not equal the fair value of the asset or if the lease payments are not at market rates, the difference is accounted for as either a prepayment of lease payments (if the purchase price is below market terms) or an additional financing (if the purchase price is above market terms) to measure the sale proceeds at fair value. |
Cash and Cash Equivalents | Cash and Cash Equivalents For the purposes of the consolidated statements of cash flows, cash and cash equivalents include cash on hand, demand deposits, and other short-term highly liquid financial assets with original maturities of three months or less, which are subject to insignificant risk of changes in their fair value. |
Provisions | Provisions A provision is recognized if, as a result pre-tax |
Financial Guarantee Contracts | Financial Guarantee Contracts Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs when a specified debtor fails to make payments due in accordance with the original or modified terms of a debt instrument. Such financial guarantees are given to banks, financial institutions and other bodies on behalf of customers to secure loans, overdrafts and other banking facilities. Financial guarantees are initially recognized at fair value on the date the guarantee is given. Financial guarantees are subsequently measured at the higher of the loss allowance and the amount initially recognized less the cumulative income recognized at the reporting date, and is included in “Other liabilities” in the consolidated statements of financial position. Any change in the loss allowance relating to financial guarantee contracts is included in “Impairment charges on financial assets” in the consolidated income statements. |
Employee Benefits | Employee Benefits The Group operates various retirement benefit plans and other employee benefit plans. Retirement benefits The Group has defined benefit plans, such as defined benefit pension plans and lump-sum Defined benefit plans The liabilities and the assets recognized in the consolidated statements of financial position in respect of defined benefit plans are the present value of the defined benefit obligation less the fair value of plan assets. The present value of the defined benefit obligation is calculated annually by qualified actuaries. In calculating the present value of the defined benefit obligations, the related current service cost, and past service cost, the Group attributes the retirement benefits to years of service under the benefit formula. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using market yields of AA credit-rated corporate bonds that have terms to maturity approximating those of the related obligations. In cases where there is no deep market in corporate bonds with a sufficiently long maturity to match the estimated maturity of the benefit payments, the Group uses current market rates of the appropriate term to discount shorter term payments and estimates the discount rates for longer maturities by extrapolating current market rates along the yield curve. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions in the year, and return on plan assets excluding interest income are recognized in other comprehensive income and are never reclassified to profit or loss. Past service costs are recognized immediately in the consolidated income statements. When the calculations above result in a benefit to the Group, the recognized asset is limited to the present value of any economic benefits available in the form of any refunds from the plan or reductions in future contributions to the plan (“asset ceiling”). An economic benefit is available to the Group if it is realizable during the life of the plan or on settlement of the plan obligations. Defined contribution plans Contributions to defined contribution plans are recognized as an expense in the consolidated income statements when they are due. Other long-term employee benefits The Group’s net obligation with respect to long-term employee benefits other than retirement benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value and the fair value of any related assets is deducted. The discount rates are market yields of AA credit-rated corporate bonds that have terms to maturity approximating those of the related obligations. The calculation of obligations is performed using the projected unit credit method. Any actuarial gains or losses and past service costs are recognized in the consolidated income statements in the period in which they arise. Short-term employee benefits Short-term employee benefits, such as salaries, paid absences and other benefits are accounted for on an accrual basis over the period in which employees have provided services. Bonuses are recognized to the extent that the Group has a present obligation to its employees that can be measured reliably. |
Income Tax | Income Tax Income tax expense comprises current and deferred taxes. Income tax expense is recognized in the consolidated income statements except for that related to items recognized directly in equity. In such case, the income tax expense is recognized in equity. Current tax is the expected tax payable or receivable on the taxable profit or loss for the fiscal year. Deferred taxes are recognized, using the balance sheet liability method, for temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred taxes are determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred tax assets are realized or the deferred tax liabilities are settled. Deferred tax assets principally arise from tax losses carried forward, impairment of investment securities and loans, and the allowance for loan losses. Deferred taxes are not recognized for the following temporary differences: (a) the initial recognition of goodwill; (b) the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; and (c) the temporary differences associated with investments in subsidiaries, associates, and joint ventures, when the parent investor is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets relating to tax losses carried forward and deductible temporary differences are recognized, only to the extent that it is probable that future taxable profit will be available against which the tax losses carried forward and the deductible temporary differences can be utilized. |
Debt and equity securities in issue | Debt and equity securities in issue On initial recognition, financial instruments issued by the Group are classified in accordance with the substance of the contractual agreement as financial liabilities where the contractual arrangement results in the Group having an obligation to either deliver cash or another financial asset to the holder, or to satisfy the obligation other than by delivering a fixed number of equity shares in exchange for a fixed amount of cash or another financial asset. The instruments or their components are classified as equity where they do not meet the definition of a liability and show evidence of a residual interest in the entity’s assets after deducting all of its liabilities. Compound financial instruments that contain both liability and equity elements are accounted for separately with the equity component being assigned the residual amount after deducting from the entire value of the compound financial instrument the fair value of the liability component which has been determined separately. |
Shareholders' Equity | Shareholders’ Equity Stock issuance costs Incremental costs directly attributable to the issuance of new shares or options including those issued as a result of a business combination transaction are deducted from the proceeds and shown in equity, net of tax. Dividends on common stock and preferred stock Dividends on common stock and preferred stock are recognized in equity in the period in which they are approved by the shareholders. Dividends for the fiscal year that are declared after the reporting period are described in Note 41 “Dividends Per Share.” Treasury stock Where the Company or any other member of the Group companies purchase the Company’s common or preferred stock, the consideration paid is deducted from equity as treasury stock until they are cancelled or sold. No gain or loss is recognized on the purchase, sale, or cancellation of the Company’s own equity instruments and the consideration paid or received is recognized in equity. |
Interest Income and Expense | Interest Income and Expense Interest income and expense for all financial instruments, except for those classified as financial assets and liabilities at fair value through profit or loss, are recognized in “Interest income” and “Interest expense” in the consolidated income statements using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that discounts the estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. When calculating the effective interest rate, the Group estimates cash flows, considering the contractual terms of the financial instrument but not including ECL. The calculation includes fees paid or received between parties to the contract that are an integral part of the effective interest rate of the financial instrument, transaction costs and other premiums or discounts. The effective interest method is used for calculating interest income by applying the effective interest rate to the gross carrying amount of a financial asset. However, for credit-impaired financial assets subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial assets. |
Fee and Commission Income | Fee and Commission Income The Group recognizes fee and commission income in accordance with the five-step model. This model requires the Group to (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. Fee and commission income arises from a diverse range of services that the Group provides to its customers. Fee and commission income can be divided into two categories: fee and commission income from transaction services which is recognized at the point in time when the transaction takes place, and fee and commission income from services which is recognized over the time as the services are provided. Fee and commission income from transaction services includes fees on credit card business, fees and commissions on the securities business, underwriting fees, brokerage fees, investment trusts sales commissions, fees on funds transfer and collection services, loan syndication fees for arranging a loan and fee and commission income from other services. Fee and commission income from services that are provided over a period of time includes fiduciary fees, investment fund management fees, loan commitments fees from which specific lending is unlikely to be drawn down and fee and commission income |
Net Trading Income | Net Trading Income Net trading income consists of margins made on market-making and customer business, as well as changes in fair value of trading assets and liabilities and derivative financial instruments, caused by movements in interest rates, exchange rates, equity prices and other market variables. It also includes net interest and dividend income on trading assets and liabilities. |
Net Income from Financial Assets and Liabilities at Fair Value through Profit or Loss | Net Income from Financial Assets and Liabilities at Fair Value through Profit or Loss Net income from financial assets and liabilities at fair value through profit or loss includes all gains and losses arising from changes in the fair value of financial assets mandatorily measured at FVPL other than trading assets and derivative financial instruments, disposal of such assets, and interest and dividend income on these financial assets. It also includes gains and losses arising from changes in the fair values of financial liabilities designated at FVPL except for the effects of changes in their own credit risk, gains or losses arising from the derecognition and interest expense on these financial liabilities. |
Net Investment Income | Net Investment Income Net investment income includes gains and losses on the disposal of debt instruments measured at fair value through other comprehensive income, and dividend income from equity instruments measured at fair value through other comprehensive income. |
Earnings Per Share | Earnings Per Share The Group presents basic and diluted earnings per share (“EPS”) data for its common stock. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Group by the weighted average number of common stock outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common stock outstanding for the effects of all dilutive potential common stock including share options and other convertible instruments. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Group is currently assessing the impact of the following standards, amendments to standards, and interpretations that are not yet effective and have not been early adopted: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28) In September 2014, the IASB issued the narrow-scope amendments to IFRS 10 and IAS 28 “Investments in Associates and Joint Ventures” to address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28, in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The effective date of applying the amendments was January 1, 2016 when they were originally issued, however, in December 2015, the IASB issued Effective Date of Amendments to IFRS 10 and IAS 28 IFRS 17 “Insurance Contracts” In May 2017, the IASB published IFRS 17 “Insurance Contracts,” which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts, replacing IFRS 4 “Insurance Contracts.” IFRS 4 provided entities dispensation to carry on accounting for insurance contracts using national accounting standards, resulting in a multitude of different approaches. IFRS 17 requires all insurance contracts to be accounted for in a consistent manner. Insurance obligations will be accounted for by using present values instead of historical cost. In June 2020, the IASB issued amendments to IFRS 17 to help entities implement the standard and make it easier for them to explain their financial performance. The fundamental principles introduced when the IASB first issued IFRS 17 in May 2017 remain unaffected. The mandatory effective date of applying IFRS 17 was January 1, 2021 when it was originally issued but was deferred to annual periods beginning on or after January 1, 2023 and it is not expected to have a material impact on the Group’s consolidated financial statements. Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) In February 2021, the IASB issued narrow-scope amendments to IAS 1 “Presentation of Financial Statements” and IFRS Practice Statement 2 “Making Materiality Judgements” to support entities improve accounting policy disclosures for users of financial statements. The amendments to IAS 1 require entities to disclose their material accounting policy information rather than their significant accounting policies. The amendments to IFRS Practice Statement 2 provide guidance on how to apply the concept of materiality to accounting policy disclosures. The amendments are effective for annual periods beginning on or after January 1, 2023. Definition of Accounting Estimates (Amendments to IAS 8) In February 2021, the IASB issued narrow-scope amendments to IAS 8. The amendments introduce the definition of accounting estimates and clarify how entities should distinguish changes in accounting policies from changes in accounting estimates. The amendments are effective for annual periods beginning on or after January 1, 2023. Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) In May 2021, the IASB issued narrow-scope amendments to IAS 12 to specify how entities should account for deferred tax on transactions such as leases and decommissioning obligations. The aim of the amendments is to reduce diversity in the reporting of deferred tax on such transactions. The amendments are effective for annual periods beginning on or after January 1, 2023 and are not expected to have a material impact on the Group’s consolidated financial statements. Initial Application of IFRS 17 and IFRS 9—Comparative Information (Amendment to IFRS 17) In December 2021, the IASB issued a narrow-scope amendment to the transition requirements in IFRS 17 to help entities avoid temporary accounting mismatches between financial assets and insurance contract liabilities caused by the different transition requirements between IFRS 17 and IFRS 9. The amendments are effective for annual periods beginning on or after January 1, 2023 and are not expected to have a material impact on the Group’s consolidated financial statements. Classification of Liabilities as Current or Non-current In January 2020, the IASB issued narrow-scope amendments to IAS 1 to clarify how to classify debt and other liabilities as current or non-current. non-current. Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) In September 2022, the IASB issued narrow-scope amendments to IFRS 16 “Leases,” which add to subsequent measurement requirements for the lease liability arising from a sale and leaseback transaction. The amendments specify how to measure the lease liability when reporting after the date of the transaction. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The Group is currently evaluating the potential impact that the adoption of the amendments will have on its consolidated financial statements. Non-current In October 2022, the IASB issued amendments to IAS 1 to improve the information entities provide about long-term debt with covenants. The amendments to IAS 1 specify that covenants to be complied with after the reporting date do not affect the classification of debt as current or non-current amendments require an entity to disclose information about these covenants in the notes to the financial statements and enable investors to understand the risk that such debt could become repayable early. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The Group is currently evaluating the potential impact that the adoption of the amendments will have on its consolidated financial statements. Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) In May 2023, the IASB issued amendments to IAS 7 “Statement of Cash Flows” and IFRS 7, which require an entity to provide disclosures to enhance the transparency of supplier finance arrangements and their effects on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments are effective for annual periods beginning on or after January 1, 2024. The Group is currently evaluating the potential impact that the adoption of the amendments will have on its consolidated financial statements. |
Critical Accounting Estimates_2
Critical Accounting Estimates and Judgments (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of key factors of the macroeconomic scenarios on the economic conditions | The following table shows the growth rates of the Japanese and global GDP, which are the key factors of the macroeconomic scenarios, under the base scenario. For the fiscal year ending March 31, 2024 2025 (%) Japanese GDP 3.4 2.3 Global GDP 2.8 3.0 |
Segment Analysis (Tables)
Segment Analysis (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Segmental Results of Operations | For the fiscal year ended March 31, 2023: Wholesale Business Unit Retail Business Unit Global Business Unit (3) Global Markets Business Unit Head office account and others (3) Total (In billions) Consolidated gross profit (1) ¥ 773.7 ¥ 1,150.2 ¥ 1,205.2 ¥ 457.8 ¥ (416.7 ) ¥ 3,170.2 General and administrative expenses (293.3 ) (933.3 ) (637.9 ) (112.5 ) 27.8 (1,949.2 ) Others (2) 78.1 4.7 44.9 28.9 (101.2 ) 55.4 Consolidated net business profit ¥ 558.5 ¥ 221.6 ¥ 612.2 ¥ 374.2 ¥ (490.1 ) ¥ 1,276.4 For the fiscal year ended March 31, 2022: Wholesale Business Unit Retail Business Unit Global Business Unit Global Markets Business Unit Head office account and others Total (In billions) Consolidated gross profit (1) ¥ 707.5 ¥ 1,146.9 ¥ 872.0 ¥ 390.6 ¥ (171.5 ) ¥ 2,945.5 General and administrative expenses (303.6 ) (935.5 ) (461.3 ) (92.3 ) (28.4 ) (1,821.1 ) Others (2) 65.8 3.5 20.5 39.8 (101.1 ) 28.5 Consolidated net business profit ¥ 469.7 ¥ 214.9 ¥ 431.2 ¥ 338.1 ¥ (301.0 ) ¥ 1,152.9 For the fiscal year ended March 31, 2021: Wholesale Business Unit Retail Business Unit Global Business Unit Global Markets Business Unit Head office account and others Total (In billions) Consolidated gross profit (1) ¥ 634.9 ¥ 1,127.4 ¥ 723.7 ¥ 460.7 ¥ (140.5 ) ¥ 2,806.2 General and administrative expenses (299.9 ) (910.4 ) (383.3 ) (82.9 ) (70.6 ) (1,747.1 ) Others (2) 53.5 2.2 26.3 35.7 (92.8 ) 24.9 Consolidated net business profit ¥ 388.5 ¥ 219.2 ¥ 366.7 ¥ 413.5 ¥ (303.9 ) ¥ 1,084.0 (1) Consolidated gross profit = (Interest income – Interest expenses) + Trust fees + (Fee and commission income – Fee and commission expenses) + (Trading income – Trading losses) + (Other operating income – Other operating expenses). (2) “Others” includes share of profit or loss of equity-method associates and joint ventures and cooperated profit and loss, that is, profit and loss double counted within the Group’s business segments in the managerial accounting. (3) The business segment of Fullerton India Credit Company Limited (“Fullerton India”) and its consolidated subsidiary was changed from Head office account and others to Global Business Unit from the beginning of the fiscal year ended March 31, 2023. |
Reconciliation of Segmental Results of Operations to Consolidated Income Statements | Reconciliation of Segmental Results of Operations to Consolidated Income Statements The figures provided in the tables above are calculated by aggregating the figures used for management reporting under Japanese GAAP for each segment. The total amount of consolidated net business profit that is calculated by each segment based on the internal managerial data is reconciled to profit before tax reported in the consolidated financial statements under IFRS as shown in the following table: For the fiscal year ended March 31, 2023 2022 2021 (In billions) Consolidated net business profit ¥ 1,276.4 ¥ 1,152.9 ¥ 1,084.0 Differences between management reporting and Japanese GAAP: Total credit costs (210.2 ) (274.4 ) (360.5 ) Gains on equity instruments 155.9 209.1 92.6 Extraordinary gains or losses and others (123.6 ) (158.0 ) (143.9 ) Profit before tax under Japanese GAAP 1,098.5 929.6 672.2 Differences between Japanese GAAP and IFRS: Scope of consolidation 4.9 3.0 5.7 Derivative financial instruments 374.0 136.9 94.8 Investment securities (147.0 ) (189.2 ) 113.3 Loans and advances 13.6 (54.4 ) 60.9 Investments in associates and joint ventures (10.6 ) (61.5 ) 3.4 Property, plant and equipment 1.6 9.0 (2.5 ) Lease accounting (0.5 ) (0.9 ) 1.0 Defined benefit plans (60.7 ) (67.0 ) — Foreign currency translation 6.6 (40.7 ) (20.2 ) Classification of equity and liability 11.3 10.9 12.5 Others (29.8 ) 0.8 15.4 Profit before tax under IFRS ¥ 1,261.9 ¥ 676.5 ¥ 956.5 |
Operating Income by Geographical Area | To identify income attributed to each geographical area for the purposes of this disclosure, they are aggregated based on the geographical location of the booking entity, with the assumption that transactions booked in booking entities are deemed to have occurred in their respective geographical areas. For the fiscal year ended March 31, 2023 2022 2021 (In millions) Domestic (1) Japan ¥ 1,778,161 ¥ 1,805,619 ¥ 2,077,833 Total domestic 1,778,161 1,805,619 2,077,833 Foreign (1)(2) Americas 829,948 592,009 448,998 Europe and Middle East 356,222 280,930 246,218 Asia and Oceania 826,345 458,902 392,536 Total foreign 2,012,515 1,331,841 1,087,752 Total operating income (3) ¥ 3,790,676 ¥ 3,137,460 ¥ 3,165,585 (1) The geographical segmentation is determined based on the degrees of the following factors: geographic proximity, similarity of economic activities and relationship of business activities among regions. (2) Americas includes the United States, Brazil, Canada and others; Europe and Middle East include the United Kingdom, Germany and others; Asia and Oceania include China, Singapore, Indonesia and others except Japan. (3) Total operating income comprises net interest income, net fee and commission income, net trading income, net income from financial assets and liabilities at fair value through profit or loss, net investment income and other income. |
Cash and Deposits with Banks (T
Cash and Deposits with Banks (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Cash and Deposits with Banks | Cash and deposits with banks at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Cash ¥ 1,351,808 ¥ 916,635 Deposits with banks 75,113,703 74,780,886 Total cash and deposits with banks ¥ 76,465,511 ¥ 75,697,521 |
Reconciliation of Cash and Cash Equivalents Used for the Purposes of the Consolidated Statement of Cash Flows | The reconciliation of cash and cash equivalents used for the purposes of the consolidated statements of cash flows at March 31, 2023, 2022 and 2021 is shown as follows: At March 31, 2023 2022 2021 (In millions) Cash and deposits with banks ¥ 76,465,511 ¥ 75,697,521 ¥ 73,090,816 Less: term deposits with original maturities over three months (444,741 ) (511,148 ) (675,185 ) Less: cash segregated as deposits and others (676,535 ) (842,420 ) (866,934 ) Cash and cash equivalents ¥ 75,344,235 ¥ 74,343,953 ¥ 71,548,697 |
Trading Assets (Tables)
Trading Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Trading Assets | Trading assets at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments ¥ 4,229,845 ¥ 3,489,258 Equity instruments 356,070 247,038 Total trading assets ¥ 4,585,915 ¥ 3,736,296 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedge Accounting (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Derivative Financial Instruments by Type and Purpose of Derivatives | The tables below represent the derivative financial instruments by type and purpose of derivatives at March 31, 2023 and 2022. At March 31, 2023 Trading Risk Management (1) Notional Assets Liabilities Notional Assets Liabilities (In millions) Interest rate derivatives ¥ 1,691,197,124 ¥ 5,025,797 ¥ 6,380,627 ¥ 65,003,591 ¥ 763,819 ¥ 1,032,506 Futures 129,630,431 37,084 36,633 8,746,711 5,990 2,836 Listed Options 262,156,548 87,651 52,918 — — — Forwards 24,354,115 30,619 24,358 — — — Swaps 1,036,174,625 4,059,518 4,100,097 56,071,259 757,829 1,008,337 OTC Options 238,881,405 810,925 2,166,621 185,621 — 21,333 Currency derivatives 220,393,641 2,571,317 1,629,519 21,600,130 203,864 1,376,767 Futures 1,114 145 — — — — Listed Options — — — — — — Forwards 115,616,503 1,113,495 1,107,415 7,430,656 71,072 184,808 Swaps 93,961,952 1,282,512 352,236 14,169,474 132,792 1,191,959 OTC Options 10,814,072 175,165 169,868 — — — Equity derivatives 2,372,833 54,508 42,208 — — — Futures 1,369,369 11,259 16,491 — — — Listed Options 565,733 9,312 17,713 — — — Forwards 146,369 12,567 2 — — — Swaps 39,235 433 2,554 — — — OTC Options 252,127 20,937 5,448 — — — Commodity derivatives 129,488 9,142 7,946 — — — Futures 25,427 407 1,247 — — — Listed Options — — — — — — Forwards — — — — — — Swaps 73,010 8,567 6,331 — — — OTC Options 31,051 168 368 — — — Credit derivatives 2,893,477 21,500 27,282 — — — Total derivative financial instruments ¥ 1,916,986,563 ¥ 7,682,264 ¥ 8,087,582 ¥ 86,603,721 ¥ 967,683 ¥ 2,409,273 At March 31, 2022 Trading Risk Management (1) Notional Assets Liabilities Notional Assets Liabilities (In millions) Interest rate derivatives ¥ 1,429,411,628 ¥ 3,016,258 ¥ 3,189,943 ¥ 56,750,246 ¥ 577,685 ¥ 582,721 Futures 150,781,509 118,492 119,133 774,857 321 2 Listed Options 450,609,244 493,433 99,058 — — — Forwards 12,650,288 1,447 84 — — — Swaps 659,925,813 2,062,478 2,096,930 55,805,239 577,364 579,505 OTC Options 155,444,774 340,408 874,738 170,150 — 3,214 Currency derivatives 180,733,207 2,637,955 2,000,625 13,999,978 66,030 986,906 Futures 10,759 101 204 — — — Listed Options — — — — — — Forwards 84,081,833 1,259,714 1,132,187 2,836,806 29,947 267,923 Swaps 86,177,897 1,258,400 727,106 11,163,172 36,083 718,983 OTC Options 10,462,718 119,740 141,128 — — — Equity derivatives 2,801,005 102,313 157,086 19,720 — 2,031 Futures 1,231,058 39,764 62,024 — — — Listed Options 1,252,615 35,056 82,997 — — — Forwards — — — — — — Swaps 56,448 542 4,859 19,720 — 2,031 OTC Options 260,884 26,951 7,206 — — — Commodity derivatives 153,247 21,540 19,544 — — — Futures 11,186 1,413 202 — — — Listed Options — — — — — — Forwards — — — — — — Swaps 138,270 20,033 18,815 — — — OTC Options 3,791 94 527 — — — Credit derivatives 2,839,549 21,967 27,480 — — — Total derivative financial instruments ¥ 1,615,938,636 ¥ 5,800,033 ¥ 5,394,678 ¥ 70,769,944 ¥ 643,715 ¥ 1,571,658 (1) Derivative financial instruments categorized as “Risk Management” are used for economic hedging, such as managing the exposure to changes in fair value of the loan portfolio, and are identified as hedging instruments under Japanese GAAP. Under IFRS, the Group applies hedge accounting for certain fixed rate debt securities in issue, borrowings, and debt instruments at fair value through other comprehensive income (“FVOCI”), certain equity instruments elected to be measured at FVOCI and net investments in foreign operations. Derivative financial instruments designated as hedging instruments are also categorized as “Risk Management.” |
Schedule of Items Designated as Hedging Instruments | The tables below represent the amounts related to items designated as hedging instruments at March 31, 2023 and 2022. Line item in the consolidated At March 31, 2023 For the fiscal year Notional (1) Carrying amounts Change in value used Assets Liabilities (In millions) Interest rate risk Interest rate swaps Derivative financial ¥ 8,264,813 ¥ 101,835 ¥ 587,049 ¥ (290,527 ) Interest rate options Derivative financial 185,621 — 21,333 (16,769 ) Stock price risk Equity swaps Derivative financial — — — 3,174 (1) At March 31, 2023, the notional amount of interest rate swaps with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥7,641,814 million out of ¥8,264,813 million in total, and that of interest rate options with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥185,621 million, equal to the total notional amount. Line item in the consolidated At March 31, 2022 For the fiscal year Notional (1) Carrying amounts Change in value used Assets Liabilities (In millions) Interest rate risk Interest rate swaps Derivative financial ¥ 8,117,678 ¥ 110,604 ¥ 246,482 ¥ (209,287 ) Interest rate options Derivative financial 170,150 — 3,214 (9,551 ) Stock price risk Equity swaps Derivative financial 19,720 — 2,031 5,191 (1) At March 31, 2022, the notional amount of interest rate swaps with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥7,355,644 million out of ¥8,117,678 million in total, and that of interest rate options with remaining maturities more than 12 months that are designated hedging instruments against interest rate risk is ¥170,150 million, equal to the total notional amount. That of equity swaps with remaining maturities more than 12 months that are designated hedging instruments against stock price risk is ¥19,720 million, equal to the total notional amount. The amounts related to items designated as hedged items at March 31, 2023 and 2022 were as follows: Line item in the consolidated At March 31, 2023 For the fiscal year Carrying amounts Change in value used (In millions) Interest rate risk Debt instruments at FVOCI Investment securities ¥ 707,845 ¥ (90,536 ) Debt securities in issue Debt securities in issue 6,928,872 391,708 Borrowings Borrowings 128,778 10,702 Stock price risk Equity instruments at fair value through other comprehensive income Investment securities — (3,199 ) Line item in the consolidated At March 31, 2022 For the fiscal year Carrying amounts Change in value used (In millions) Interest rate risk Debt instruments at FVOCI Investment securities ¥ 1,256,768 ¥ (82,016 ) Debt securities in issue Debt securities in issue 6,569,461 294,332 Borrowings Borrowings 106,489 6,842 Stock price risk Equity instruments at fair value through other comprehensive income Investment securities 21,355 (5,313 ) |
Schedule of Hedges of Net Investments in Foreign Operations | The tables below represents the amounts related to items designated as hedging instruments at March 31, 2023 and 2022. Line item in the consolidated At March 31, 2023 For the fiscal year Nominal Carrying amounts Change in value used Assets Liabilities (In millions) Foreign exchange forward contracts Derivative financial instruments ¥ 3,088,524 ¥ 48,483 ¥ 147,366 ¥ (195,012 ) Foreign currency denominated financial liabilities Debt securities in issue, Borrowings, Deposits 287,072 — 287,072 (13,434 ) Line item in the consolidated At March 31, 2022 For the fiscal year Nominal Carrying amounts Change in value used Assets Liabilities (In millions) Foreign exchange forward contracts Derivative financial instruments ¥ 2,783,215 ¥ 29,947 ¥ 266,699 ¥ (191,493 ) Foreign currency denominated financial liabilities Debt securities in issue, Borrowings, Deposits 129,090 — 129,090 (11,846 ) |
Schedule of Items Designated as Hedging Items | The amounts related to items designated as hedged items for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended At March 31, 2023 Change in value used Translating (In millions) USD foreign operations ¥ 98,413 ¥ 206,338 EUR foreign operations 72,926 167,474 THB foreign operations 22,204 57,077 Other foreign operations 14,903 63,227 Total ¥ 208,446 ¥ 494,116 For the fiscal year ended At March 31, 2022 Change in value used Translating (In millions) USD foreign operations ¥ 105,164 ¥ 107,924 EUR foreign operations 56,049 94,548 THB foreign operations 14,481 34,874 Other foreign operations 27,645 48,324 Total ¥ 203,339 ¥ 285,670 |
Notional Amounts and Fair Value of Credit Derivatives by Purpose of Transactions | The tables below provide the notional amounts and the fair value of credit derivatives by purpose of transactions at March 31, 2023 and 2022. At March 31, 2023 Protection purchased Protection sold Notional Assets Liabilities Notional Assets Liabilities (In millions) Managing the Group’s credit risk portfolio ¥ 1,502,814 ¥ 4,738 ¥ 16,442 ¥ 1,347,591 ¥ 16,456 ¥ 10,542 Facilitating client transactions 36,702 251 203 6,370 55 95 Total ¥ 1,539,516 ¥ 4,989 ¥ 16,645 ¥ 1,353,961 ¥ 16,511 ¥ 10,637 At March 31, 2022 Protection purchased Protection sold Notional Assets Liabilities Notional Assets Liabilities (In millions) Managing the Group’s credit risk portfolio ¥ 1,508,262 ¥ 2,133 ¥ 21,975 ¥ 1,282,915 ¥ 19,489 ¥ 4,925 Facilitating client transactions 41,502 236 572 6,870 109 8 Total ¥ 1,549,764 ¥ 2,369 ¥ 22,547 ¥ 1,289,785 ¥ 19,598 ¥ 4,933 |
Notional Amounts and Fair Value of Credit Derivative Portfolio by Type of Counterparty | The following table summarizes the notional amounts of the Group’s credit derivative portfolio by type of counterparty at March 31, 2023 and 2022. At March 31, 2023 At March 31, 2022 Protection Protection Protection Protection (In millions) Banks and broker-dealers ¥ 1,539,516 ¥ 1,353,961 ¥ 1,549,764 ¥ 1,289,785 Insurance and other financial guaranty firms — — — — Total ¥ 1,539,516 ¥ 1,353,961 ¥ 1,549,764 ¥ 1,289,785 |
Financial Assets at Fair Valu_2
Financial Assets at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Financial Assets at Fair Value through Profit or Loss | Financial assets at fair value through profit or loss at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments ¥ 1,392,889 ¥ 1,657,206 Equity instruments 95,350 38,379 Total financial assets at fair value through profit or loss ¥ 1,488,239 ¥ 1,695,585 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Investment Securities | The following table shows the amount of investment securities, which consist of debt instruments at amortized cost, debt instruments at fair value through other comprehensive income and equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Debt instruments at amortized cost: Domestic: Japanese government bonds ¥ 72,549 ¥ — Japanese municipal bonds 93,044 25,741 Total domestic 165,593 25,741 Foreign: Bonds issued by other governments and official institutions (1) 68,121 56,400 Other debt instruments 1,853 1,813 Total foreign 69,974 58,213 Total debt instruments at amortized cost ¥ 235,567 ¥ 83,954 Debt instruments at fair value through other comprehensive income: Domestic: Japanese government bonds ¥ 9,576,298 ¥ 15,774,197 Japanese municipal bonds 1,087,625 1,145,496 Japanese corporate bonds 946,726 948,992 Other debt instruments 312 311 Total domestic 11,610,961 17,868,996 Foreign: U.S. Treasury and other U.S. government agency bonds 5,232,456 5,681,789 Bonds issued by other governments and official institutions (1) 2,991,272 2,997,588 Mortgage-backed securities 2,379,250 1,006,051 Other debt instruments 597,484 512,542 Total foreign 11,200,462 10,197,970 Total debt instruments at fair value through other comprehensive income ¥ 22,811,423 ¥ 28,066,966 Equity instruments at fair value through other comprehensive income: Domestic equity instruments ¥ 3,587,964 ¥ 3,658,591 Foreign equity instruments 960,644 939,894 Total equity instruments at fair value through other comprehensive income ¥ 4,548,608 ¥ 4,598,485 Total investment securities ¥ 27,595,598 ¥ 32,749,405 (1) Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agencies. |
Schedule of Equity Instruments at Fair Value through Other Comprehensive Income | Equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Listed ¥ 3,581,167 ¥ 3,659,168 Unlisted 967,441 939,317 Total equity instruments at fair value through other comprehensive income ¥ 4,548,608 ¥ 4,598,485 |
Schedule of Investments in Listed Equity Instruments at Fair Value through Other Comprehensive Income | The investments in the listed equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 mainly consisted of the following: At March 31, 2023 (In millions) TOYOTA MOTOR CORPORATION ¥ 365,984 DAIKIN INDUSTRIES, LTD. 201,068 Ares Management Corporation 187,804 Kotak Mahindra Bank Limited 92,645 KUBOTA CORPORATION 71,976 SBI Holdings, Inc. 70,848 DAIICHI SANKYO COMPANY, LIMITED 66,048 ITOCHU Corporation 62,509 Seven & i Holdings Co., Ltd. 58,755 FUJIFILM Holdings Corporation 55,448 Murata Manufacturing Co., Ltd. 54,886 MITSUI & CO., LTD. 52,823 East Japan Railway Company 50,208 ESR Group Limited 49,130 BRIDGESTONE CORPORATION 48,303 DAIWA HOUSE INDUSTRY CO., LTD. 45,170 Jefferies Financial Group Inc. 44,505 NIDEC CORPORATION 41,515 Central Japan Railway Company 41,150 NIPPON STEEL CORPORATION 40,836 SG HOLDINGS CO., LTD. 40,670 Asahi Group Holdings, Ltd. 39,530 Sumitomo Realty & Development Co., Ltd. 35,104 Mitsui O.S.K. Lines, Ltd. 29,790 Mitsui Fudosan Co., Ltd. 29,179 GMO Payment Gateway, Inc. 28,468 Shionogi & Co., Ltd. 27,466 KOITO MANUFACTURING CO., LTD. 27,213 MINEBEA MITSUMI Inc. 25,671 ASICS Corporation 25,548 Japan Exchange Group, Inc. 24,807 West Japan Railway Company 24,447 Sanrio Company, Ltd. 24,150 TOYOTA TSUSHO CORPORATION 23,883 At March 31, 2023 (In millions) ASAHI KASEI CORPORATION 23,533 Stanley Electric Co., Ltd. 23,499 SHIMANO INC. 22,840 DAIFUKU CO., LTD. 22,429 TAISHO PHARMACEUTICAL HOLDINGS CO., LTD. 22,240 Makita Corporation 19,026 TORAY INDUSTRIES, INC. 18,170 Tokyo Electric Power Company Holdings, Incorporated 16,994 OMRON Corporation 16,881 Oji Holdings Corporation 16,594 Sekisui House, Ltd. 16,265 Chubu Electric Power Company, Incorporated 15,680 Sanwa Holdings Corporation 15,629 Sumitomo Metal Mining Co., Ltd. 15,148 KAJIMA CORPORATION 13,733 NISSIN FOODS HOLDINGS CO., LTD. 12,821 Others 1,182,148 Total listed equity instruments at fair value through other comprehensive income ¥ 3,581,167 At March 31, 2022 (In millions) TOYOTA MOTOR CORPORATION ¥ 432,660 DAIKIN INDUSTRIES, LTD. 201,690 Ares Management Corporation 167,592 Kotak Mahindra Bank Limited 93,193 MITSUI & CO., LTD. 85,420 KUBOTA CORPORATION 82,922 ESR Cayman Limited (1) 78,076 FUJIFILM Holdings Corporation 70,355 ITOCHU Corporation 60,227 NIDEC CORPORATION 59,122 SG HOLDINGS CO., LTD. 58,262 Seven & i Holdings Co., Ltd. 57,162 Murata Manufacturing Co., Ltd. 55,412 DAIWA HOUSE INDUSTRY CO., LTD. 51,591 East Japan Railway Company 48,668 Sumitomo Realty & Development Co., Ltd. 46,640 DAIICHI SANKYO COMPANY, LIMITED 45,885 BRIDGESTONE CORPORATION 42,822 Jefferies Financial Group Inc. 42,222 Central Japan Railway Company 41,554 Asahi Group Holdings, Ltd. 35,813 Shionogi & Co., Ltd. 34,603 Mitsui Fudosan Co., Ltd. 34,015 GMO Payment Gateway, Inc. 31,470 DAIFUKU CO., LTD. 31,384 Mitsui O.S.K. Lines, Ltd. 30,780 At March 31, 2022 (In millions) NIPPON STEEL CORPORATION 28,415 SHIMANO INC. 28,155 Japan Exchange Group, Inc. 28,095 MINEBEA MITSUMI Inc. 27,542 KOITO MANUFACTURING CO., LTD. 27,077 ASAHI KASEI CORPORATION 26,993 TAISHO PHARMACEUTICAL HOLDINGS CO., LTD. 22,885 Makita Corporation 22,825 West Japan Railway Company 22,808 TOYOTA TSUSHO CORPORATION 21,503 Oji Holdings Corporation 19,223 Stanley Electric Co., Ltd. 18,633 Sumitomo Metal Mining Co., Ltd. 18,491 OMRON Corporation 17,991 Idemitsu Kosan Co., Ltd. 17,357 ASICS Corporation 16,174 BANDAI NAMCO Holdings Inc. 15,514 TORAY INDUSTRIES, INC. 15,345 Block, Inc. 15,071 Tokyo Electric Power Company Holdings, Incorporated 14,479 Sekisui House, Ltd. 14,294 Chubu Electric Power Company, Incorporated 14,155 IBIDEN CO., LTD. 13,966 CME Group Inc. 13,738 Others 1,158,899 Total listed equity instruments at fair value through other comprehensive income ¥ 3,659,168 (1) ESR Cayman Limited changed its trade name to ESR Group Limited on June 21, 2022. |
Schedule of Fair Value of Equity Instruments Measured at Fair Value through Other Comprehensive Income at Date of Derecoginititon And Cumulative Gain on Disposal | The fair value of the equity instruments measured at fair value through other comprehensive income at the date of derecognition and the cumulative gain on disposal for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) Fair value of the equity instruments at fair value through other comprehensive income at the date of derecognition ¥ 205,216 ¥ 298,397 Cumulative gain on disposal 142,305 139,675 |
Loans and Advances (Tables)
Loans and Advances (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Loans and Advances | The following tables present loans and advances at March 31, 2023 and 2022. At March 31, 2023 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Gross loans and advances ¥ 108,254,496 ¥ 3,718,669 ¥ 1,170,662 ¥ 113,143,827 Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net (388,579 ) Less: Allowance for loan losses (187,455 ) (240,494 ) (436,165 ) (864,114 ) Carrying amount ¥ 111,891,134 At March 31, 2022 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Gross loans and advances ¥ 100,846,789 ¥ 3,700,816 ¥ 1,406,094 ¥ 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net (324,830 ) Less: Allowance for loan losses (162,919 ) (247,020 ) (583,115 ) (993,054 ) Carrying amount ¥ 104,635,815 |
Investments in Associates and_2
Investments in Associates and Joint Ventures (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Investments in Associates and Joint Ventures | The following table presents the Group’s principal associates and joint venture at March 31, 2023. Investments in associates and joint ventures of the Group are accounted for using the equity method unless they are held for sale. Company Name Country of Proportion of (1) Proportion (1) Main Business (%) (%) Principal Associates PayPay Bank Corporation Japan 46.5 46.5 Internet banking The Bank of East Asia, Limited China 21.4 21.4 Commercial banking ACLEDA Bank Plc. Cambodia 18.0 18.0 Commercial banking Sumitomo Mitsui Auto Service Company, Limited Japan 26.1 26.1 Leasing SMBC Aviation Capital Limited Ireland 32.0 32.0 Leasing POCKET CARD CO., LTD. Japan 20.0 20.0 Credit card VPBank SMBC Finance Company Limited Vietnam 49.0 49.0 Consumer lending SAKURA KCS Corporation Japan 29.7 29.7 System engineering and data processing JSOL Corporation Japan 50.0 50.0 System development and data processing Sakura Information Systems Co., Ltd. Japan 49.0 49.0 System engineering and data processing China Post & Capital Fund Management Co., Ltd. China 23.6 23.6 Investment management, and investment advisory and agency Principal Joint Venture Sumitomo Mitsui Finance and Leasing Company, Limited Japan 50.0 50.0 Leasing (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. |
Financial Information of all Individually Immaterial Associates and Joint Ventures | The following table summarizes, in aggregate, the financial information of all individually immaterial associates and joint ventures that are accounted for using the equity method: At and for the fiscal year ended 2023 2022 (In millions) Carrying amount of investments in associates and joint ventures ¥ 1,141,250 ¥ 1,009,738 Share of: Profit (loss) from continuing operations 87,428 (10,838 ) Other comprehensive income 30,415 31,835 Total comprehensive income 117,843 20,997 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Changes in Property, Plant and Equipment | The table below shows the changes in property, plant and equipment for the fiscal years ended March 31, 2023 and 2022. Assets for Land Buildings Right of use Others Total (In millions) Cost ¥ 551,598 ¥ 492,499 ¥ 809,153 ¥ 536,305 ¥ 397,768 ¥ 2,787,323 Accumulated depreciation and impairment losses (113,863 ) (4,839 ) (445,190 ) (163,303 ) (305,467 ) (1,032,662 ) Net carrying amount at April 1, 2021 437,735 487,660 363,963 373,002 92,301 1,754,661 Additions 15,951 — 19,802 90,791 47,899 174,443 Acquisition of subsidiaries and businesses — 2 — 2,622 658 3,282 Disposals (18,287 ) (1,452 ) (973 ) (6,906 ) (1,675 ) (29,293 ) Depreciation (17,165 ) — (22,736 ) (93,734 ) (21,726 ) (155,361 ) Impairment losses (28,279 ) (1,050 ) (14,092 ) — (287 ) (43,708 ) Exchange differences 44,420 258 1,281 9,610 5,386 60,955 Others 754 581 5,810 50 (9,178 ) (1,983 ) Net carrying amount 435,129 485,999 353,055 375,435 113,378 1,762,996 Cost 608,839 491,127 811,107 577,603 428,677 2,917,353 Accumulated depreciation and impairment losses (173,710 ) (5,128 ) (458,052 ) (202,168 ) (315,299 ) (1,154,357 ) Net carrying amount at March 31, 2022 435,129 485,999 353,055 375,435 113,378 1,762,996 Additions 24,586 — 18,193 118,064 52,642 213,485 Acquisition of subsidiaries and businesses — — — — — — Disposals (4,086 ) (3,366 ) (1,102 ) (5,217 ) (2,304 ) (16,075 ) Depreciation (18,869 ) — (22,435 ) (89,324 ) (23,787 ) (154,415 ) Impairment losses — (5,802 ) (25,711 ) — (104 ) (31,617 ) Exchange differences 66,397 400 1,174 8,702 5,013 81,686 Others (5,880 ) — 6,084 (663 ) (23,360 ) (23,819 ) Net carrying amount 497,277 477,231 329,258 406,997 121,478 1,832,241 Cost 710,680 487,450 816,038 637,335 447,048 3,098,551 Accumulated depreciation and impairment losses (213,403 ) (10,219 ) (486,780 ) (230,338 ) (325,570 ) (1,266,310 ) Net carrying amount at March 31, 2023 ¥ 497,277 ¥ 477,231 ¥ 329,258 ¥ 406,997 ¥ 121,478 ¥ 1,832,241 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Disclosure of Quantitative Information about Right-of-Use Assets | The carrying amount of right of use assets at March 31, 2023 and 2022 consisted of the following: Net carrying amount Depreciation At March 31, For the fiscal year ended March 31, 2023 2022 2023 2022 (In millions) Land and buildings ¥ 380,615 ¥ 348,331 ¥ 77,407 ¥ 81,692 Other tangible assets (1) 26,382 27,104 11,917 12,042 Intangible assets (2) 6,302 6,605 5,437 4,587 Total ¥ 413,299 ¥ 382,040 ¥ 94,761 ¥ 98,321 (1) Other tangible assets include mainly office equipment, machinery and vehicles. (2) Intangible assets include mainly software. |
Maturity Analysis of Lease Liability | The maturity analysis of lease liabilities at March 31, 2023 and 2022 were as follows: At March 31, 2023 At March 31, 2022 (In millions) Not later than one year ¥ 76,929 ¥ 76,068 Later than one year and not later than five years 183,516 181,334 Later than five years 183,993 143,672 Total 444,438 401,074 Less: Future interest charges (27,441 ) (17,367 ) Lease liabilities (1) ¥ 416,997 ¥ 383,707 (1) Lease liabilities is included in “Borrowings” in the consolidated statements of financial position. See Note 19 “Borrowings.” |
Gross Investment in Lease, Unearned Finance Income, Present Value of Minimum Lease Payments Receivable and Unguaranteed Residual Values Under Finance Leases | The maturity analysis of the lease payments receivable, showing the undiscounted lease payments to be received at March 31, 2023 and 2022 were as follows: At March 31, 2023 Undiscounted Unearned Discounted (1) Unguaranteed (1) (In millions) Not later than one year ¥ 38,510 ¥ 14,944 ¥ 23,566 ¥ 862 Later than one year and not later than two years 30,015 9,813 20,202 2,413 Later than two years and not later than three years 65,669 10,064 55,605 5,975 Later than three years and not later than four years 25,616 8,536 17,080 6,111 Later than four years and not later than five years 21,687 7,519 14,168 4,158 Later than five years 213,275 66,950 146,325 11,446 Total ¥ 394,772 ¥ 117,826 ¥ 276,946 ¥ 30,965 At March 31, 2022 Undiscounted Unearned Discounted (1) Unguaranteed (1) (In millions) Not later than one year ¥ 48,883 ¥ 9,787 ¥ 39,096 ¥ 1,205 Later than one year and not later than two years 34,612 8,865 25,747 903 Later than two years and not later than three years 24,634 7,833 16,801 14,695 Later than three years and not later than four years 51,422 7,361 44,061 1,186 Later than four years and not later than five years 17,818 7,991 9,827 12,634 Later than five years 200,728 69,418 131,310 11,108 Total ¥ 378,097 ¥ 111,255 ¥ 266,842 ¥ 41,731 (1) Discounted lease payments and unguaranteed residual values are included in “Loans and advances” in the consolidated statements of financial position. |
Total Amounts of Future Minimum Lease Payments Under Non-cancellable Operating Leases | The total amounts of the future minimum lease payments receivable under non-cancellable At March 31, 2023 At March 31, 2022 (In millions) Not later than one year ¥ 35,656 ¥ 27,907 Later than one year and not later than two years 28,742 19,710 Later than two years and not later than three years 20,763 14,215 Later than three years and not later than four years 14,424 9,363 Later than four years and not later than five years 9,374 5,910 Later than five years 11,056 11,049 Total ¥ 120,015 ¥ 88,154 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Changes in Goodwill by Business Segment | The table below shows the changes in goodwill by business segment for the fiscal years ended March 31, 2023 and 2022. Retail Business Unit Global Business Unit Head office account and Total (In millions) Gross amount of goodwill (1) ¥ 61,952 ¥ 4,450 ¥ 242,511 ¥ 308,913 Accumulated impairment losses (1) — — (105,022 ) (105,022 ) Net carrying amount at April 1, 2021 61,952 4,450 137,489 203,891 Acquisitions (2) — — 179,197 179,197 Exchange differences — 527 12,664 13,191 Net carrying amount 61,952 4,977 329,350 396,279 Gross amount of goodwill (1) 61,952 4,977 434,372 501,301 Accumulated impairment losses (1) — — (105,022 ) (105,022 ) Net carrying amount at March 31, 2022 61,952 4,977 329,350 396,279 Transfer of Business Segment (3) — 190,986 (190,986 ) — Impairment losses — — (126,151 ) (126,151 ) Exchange differences — 1,413 465 1,878 Net carrying amount 61,952 197,376 12,678 272,006 Gross amount of goodwill (1) 61,952 197,376 55,076 314,404 Accumulated impairment losses (1) — — (42,398 ) (42,398 ) Net carrying amount at March 31, 2023 ¥ 61,952 ¥ 197,376 ¥ 12,678 ¥ 272,006 (1) The goodwill which all amounts have been impaired is excluded from gross amount of goodwill and accumulated impairment losses. (2) The Group recognized goodwill of ¥179,197 million in Head office account and others resulting from the acquisition of Fullerton India Credit Company Limited (“Fullerton India”) on November 30, 2021. For additional information, refer to Note 5 1 (3) The business segment of Fullerton India and its consolidated subsidiary was changed from Head office account and others to Global Business Unit from the beginning of the fiscal year ended March 31, 2023. |
Key Assumptions Used in Impairment Testing | The key assumptions used for the value in use calculations for the fiscal years ended March 31, 2023 and 2022 were as follows: SMBC SMBC SMDAM Fullerton For the fiscal year ended March 31, 2023: Pre-tax 7.90 % 8.95 % 11.30 % 17.60 % Growth rate 1.00 % 1.00 % 1.00 % 8.10 % For the fiscal year ended March 31, 2022: Pre-tax 8.80 % 9.53 % 12.40 % 17.00 % Growth rate 1.00 % 1.00 % 1.00 % 8.30 % |
Changes in Other Intangible Assets | The table below shows the changes in other intangible assets for the fiscal years ended March 31, 2023 and 2022. Internally Purchased Contractual Trademarks Other Total (In millions) Cost ¥ 788,808 ¥ 412,032 ¥ 189,900 ¥ 55,573 ¥ 125,913 ¥ 1,572,226 Accumulated amortization and impairment losses (454,169 ) (271,310 ) (124,704 ) (46,695 ) (59,519 ) (956,397 ) Net carrying amount at April 1, 2021 334,639 140,722 65,196 8,878 66,394 615,829 Additions 125,824 59,913 — — 13,341 199,078 Acquisition of subsidiaries and businesses — 1,030 5,504 — 45 6,579 Disposals (1,149 ) (1,728 ) — — (414 ) (3,291 ) Amortization (95,604 ) (46,200 ) (12,315 ) (885 ) (10,840 ) (165,844 ) Impairment losses (49,304 ) (6,512 ) — — — (55,816 ) Exchange differences 551 2,282 1,874 994 2,771 8,472 Others 918 (4,913 ) — — (4,442 ) (8,437 ) Net carrying amount 315,875 144,594 60,259 8,987 66,855 596,570 Cost 841,775 467,821 188,183 56,693 110,355 1,664,827 Accumulated amortization and impairment losses (525,900 ) (323,227 ) (127,924 ) (47,706 ) (43,500 ) (1,068,257 ) Net carrying amount at March 31, 2022 315,875 144,594 60,259 8,987 66,855 596,570 Additions 124,596 64,552 — — 15,166 204,314 Acquisition of subsidiaries and businesses — — — — — — Disposals (819 ) (1,389 ) — — (3,029 ) (5,237 ) Amortization (90,292 ) (52,411 ) (13,006 ) (621 ) (11,591 ) (167,921 ) Impairment losses (17 ) (6,162 ) (2,524 ) — (665 ) (9,368 ) Exchange differences 471 1,752 667 417 1,089 4,396 Others 2,120 18,675 — — (10,527 ) 10,268 Net carrying amount 351,934 169,611 45,396 8,783 57,298 633,022 Cost 859,742 511,135 181,499 52,903 89,842 1,695,121 Accumulated amortization and impairment losses (507,808 ) (341,524 ) (136,103 ) (44,120 ) (32,544 ) (1,062,099 ) Net carrying amount at March 31, 2023 ¥ 351,934 ¥ 169,611 ¥ 45,396 ¥ 8,783 ¥ 57,298 ¥ 633,022 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Assets | Other assets at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Prepaid expenses ¥ 119,041 ¥ 89,783 Accrued income 577,707 353,673 Receivables from brokers, dealers and customers for securities transactions 817,020 1,505,359 Cash collateral provided for derivative and other financial transactions 3,030,136 2,620,665 Retirement benefit assets 562,144 553,118 Security deposits 78,050 83,903 Others 983,104 857,406 Total other assets ¥ 6,167,202 ¥ 6,063,907 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Deposits | Deposits at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Non-interest-bearing ¥ 33,550,063 ¥ 30,967,878 Interest-bearing demand deposits 75,184,412 71,508,201 Deposits at notice 14,446,630 12,036,543 Time deposits 27,523,697 25,137,738 Negotiable certificates of deposit 13,025,556 13,069,797 Others (1) 9,197,452 9,873,335 Total deposits ¥ 172,927,810 ¥ 162,593,492 (1) Others include, among other items, foreign currency deposits in domestic offices and Japanese yen accounts held by foreign depositors in domestic offices. |
Trading Liabilities (Tables)
Trading Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Trading Liabilities | Trading liabilities at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Debt instruments “short position” ¥ 3,101,433 ¥ 3,152,043 Equity instruments “short position” 189,656 29,949 Total trading liabilities ¥ 3,291,089 ¥ 3,181,992 |
Financial Liabilities Designa_2
Financial Liabilities Designated At Fair Value Through Profit Or Loss (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of financial instruments designated at fair value through profit or loss | Financial liabilities designated at fair value through profit or loss at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Borrowings ¥ 113,262 ¥ 72,470 Debt securities in issue 300,844 383,264 Total financial liabilities designated at fair value through profit or loss ¥ 414,106 ¥ 455,734 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Short-term Borrowings and Long-term Borrowings (with Original Maturities of More Than One Year) | Borrowings at March 31, 2023 and 2022 At March 31, 2023 2022 (In millions) Unsubordinated borrowings ¥ 13,532,217 ¥ 18,766,117 Subordinated borrowings 186,218 234,680 Liabilities associated with securitization transactions 1,236,369 1,200,147 Lease liabilities 416,997 383,707 Total borrowings ¥ 15,371,801 ¥ 20,584,651 |
Debt Securities in Issue (Table
Debt Securities in Issue (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Debt Securities in Issue | Debt securities in issue at March 31, 2023 and 2022 consisted of the following: At March 31, Interest rate 2023 2022 (In millions) SMFG: Unsubordinated bonds: Unsubordinated bonds, payable in United States dollars, 0.05%-5.77% ¥ 5,741,299 ¥ 5,325,808 Unsubordinated bonds, payable in euros, 0.00%-1.72% 721,701 825,503 Unsubordinated bonds, payable in Japanese yen, 0.86%-1.47% 120,984 — Unsubordinated bonds, payable in Australian dollars, 1.32%-4.60% 104,673 177,013 Unsubordinated bonds, payable in Hong Kong dollars, 3.54% 4,833 4,638 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 0.47%-1.67% 571,671 471,753 Subordinated bonds, payable in United States dollars, 2.14%-4.44% 462,082 451,272 Total SMFG 7,727,243 7,255,987 SMBC: Commercial paper (0.57%)-5.40% 1,292,198 1,229,180 Unsubordinated bonds: Unsubordinated bonds, payable in United States dollars, 3.00%-5.99% 437,393 542,129 Unsubordinated bonds, payable in euros, 2.75% 72,101 68,124 Unsubordinated bonds, payable in Australian dollars, 2.90%-4.79% 15,109 12,048 Unsubordinated bonds, payable in Hong Kong dollars, 2.92% 12,423 11,672 Unsubordinated bonds, payable in Chinese yuan, 3.20% 19,416 19,239 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 2.17%-2.21% 59,997 59,996 Total SMBC 1,908,637 1,942,388 Other subsidiaries: Commercial paper (0.01%)-5.59% 1,293,691 1,195,399 Unsubordinated bonds: Unsubordinated bonds, payable in Japanese yen, 0.01%-14.15% 140,582 165,051 Unsubordinated bonds, payable in United States dollars, 0.01%-4.00% 148,425 205,438 Unsubordinated bonds, payable in euros, 0.01%-3.60% 583,083 444,969 Unsubordinated bonds, payable in Indonesian rupiah, 7.55%-7.75% 1,782 8,474 Unsubordinated bonds, payable in Australian dollars, 0.01%-0.75% 380 532 Unsubordinated bonds, payable in Turkish lira, 0.01%-15.00% 177 822 Unsubordinated bonds, payable in Chinese yuan, -2023 0.00% 18,629 62,982 Unsubordinated bonds, payable in Indian rupee, 5.50%-11.40% 142,365 126,395 Subordinated bonds: Subordinated bonds, payable in Japanese yen, 4.00%-4.15% 20,000 20,000 Total other subsidiaries 2,349,114 2,230,062 Total debt securities in issue ¥ 11,984,994 ¥ 11,428,437 |
Summary of Movement in Subordinated Bonds | The following table presents the movement in Subordinated bonds for the fiscal years ended March 31, 2023 and 2022. For the fiscal year ended 2023 2022 (In millions) Subordinated bonds at beginning of period (1) ¥ 1,003,021 ¥ 1,277,362 Cash flows: Proceeds from issuance of subordinated bonds 99,984 95,533 Redemption of subordinated bonds — (382,600 ) Non-cash Foreign exchange translations 43,940 47,143 Others (33,195 ) (34,417 ) Subordinated bonds at end of period (1) ¥ 1,113,750 ¥ 1,003,021 (1) The balances are comprised of subordinated bonds issued by SMFG, SMBC and other subsidiaries. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Movements by Class of Provisions | The following table presents movements by class of provisions for the fiscal years ended March 31, 2023 and 2022. Provision for Other provisions Total (In millions) Balance at April 1, 2021 ¥ 141,201 ¥ 83,073 ¥ 224,274 Additional provisions 32,000 20,725 52,725 Amounts used (37,674 ) (10,648 ) (48,322 ) Unused amounts reversed — (655 ) (655 ) Amortization of discount and effect of change in discount rate (404 ) 145 (259 ) Others — 21 21 Balance at March 31, 2022 135,123 92,661 227,784 Additional provisions 29,000 34,141 63,141 Amounts used (35,707 ) (7,794 ) (43,501 ) Unused amounts reversed — (90 ) (90 ) Amortization of discount and effect of change in discount rate (182 ) 141 (41 ) Others — 51 51 Balance at March 31, 2023 ¥ 128,234 ¥ 119,110 ¥ 247,344 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Liabilities | Other liabilities at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Accrued expenses ¥ 569,480 ¥ 365,367 Unearned income 64,821 86,519 Financial guarantees and other credit-related contingent liabilities 41,234 37,241 Due to trust account 1,696,286 1,814,781 Payables to brokers, dealers and customers for securities transactions 1,377,908 1,528,716 Payables related to credit card services 1,068,315 885,022 Obligations from factoring transactions 385,642 482,346 Retirement benefit liabilities 37,021 44,622 Guarantee deposits and derivative cash collateral 1,489,987 727,668 Others 1,972,719 2,414,492 Total other liabilities ¥ 8,703,413 ¥ 8,386,774 |
Deferred Income Tax (Tables)
Deferred Income Tax (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Changes of Net Deferred Tax Assets and Liabilities | The changes of net deferred tax assets and liabilities for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ (200,299 ) ¥ (370,577 ) Deferred tax benefit (expense) (141,365 ) 29,453 Deferred tax relating to other comprehensive income: Remeasurements of defined benefit plans reserve (2,288 ) (10,027 ) Financial instruments at fair value through other comprehensive income reserve 92,181 135,022 Own credit on financial liabilities designated at fair value through profit or loss reserve (3,934 ) (1,754 ) Exchange differences on translating foreign operations reserve 860 (8,934 ) Acquisition and disposal of subsidiaries and businesses — 12,825 Exchange differences and others 4,725 13,693 At end of period ¥ (250,120 ) ¥ (200,299 ) |
Deferred Tax Assets and Liabilities | The deferred tax assets and liabilities at March 31, 2023 and 2022 were attributable to the following items: At March 31, 2023 2022 (In millions) Deferred tax assets: Loans and advances ¥ 429,848 ¥ 451,720 Tax losses carried forward 87,951 76,223 Provision for interest repayment 35,963 37,826 Investment securities 27,207 16,811 Retirement benefits 9,494 12,081 Other deductible temporary differences 142,889 137,170 Total deferred tax assets 733,352 731,831 Deferred tax liabilities: Investment securities 547,661 637,052 Derivative financial instruments 122,161 6,536 Property, plant and equipment 91,789 66,521 Retirement benefits 80,801 81,051 Goodwill and intangible assets 22,700 55,948 Lease transactions 6,840 6,509 Other taxable temporary differences 111,520 78,513 Total deferred tax liabilities 983,472 932,130 Net deferred tax assets (liabilities) (1) ¥ (250,120 ) ¥ (200,299 ) (1) Deferred tax assets and deferred tax liabilities are offset in the consolidated statements of financial position if the entity has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on the same taxable entity. |
Amounts of Deductible Temporary Differences and Tax Losses Carried Forward by Expiration Date | The following table shows the amounts of deductible temporary differences and tax losses carried forward by expiration date at March 31, 2023 and 2022 for which no deferred tax assets were recognized. At March 31, 2023 2022 (In millions) Deductible temporary differences ¥ 286,126 ¥ 269,907 Tax losses carried forward which will expire in 1 year 18,345 37,370 2 years 19,518 37,697 3 years 14,944 23,076 4 years 51,766 14,971 5 years 4,347 60,240 6 years 137,196 — 7 years 46,489 137,196 8 years 41,879 46,498 9 years 40,620 41,997 10 years and thereafter 42,003 48,462 Total deductible temporary differences and tax losses carried forward (1) ¥ 703,233 ¥ 717,414 (1) Under the group aggregation system and the consolidated corporate-tax system, the Company and its wholly owned domestic subsidiaries recognized deferred tax assets relating to deductible temporary differences and tax losses carried forward on a consolidated basis for Japanese national corporation tax purposes and on a stand-alone basis for Japanese local corporation tax purposes. There are deductible temporary differences and tax losses carried forward on which deferred tax assets are recognized for Japanese national corporation tax purposes, but on which no deferred tax assets are recognized for Japanese local corporation tax purposes. These deductible temporary differences and tax losses carried forward amounted to ¥243,822 million and ¥268,407 million at March 31, 2023 and 2022, respectively. |
Deferred Tax Expense | Deferred tax benefit and expense for the fiscal years ended March 31, 2023 and 2022 were attributable to the following temporary differences and tax losses carried forward: For the fiscal year ended 2023 2022 (In millions) Derivative financial instruments ¥ (108,466 ) ¥ (51,209 ) Goodwill and intangible assets 33,248 5,583 Loans and advances (32,339 ) 43,680 Property, plant and equipment (8,304 ) 14,706 Investment securities 7,708 25,869 Tax losses carried forward 2,861 6,576 Provision for interest repayment (1,862 ) (1,561 ) Lease transactions 539 1,602 Retirement benefits 125 7,896 Other temporary differences—net (34,875 ) (23,689 ) Total deferred tax benefit (expense) ¥ (141,365 ) ¥ 29,453 |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Detailed Information for the Defined Benefit Plans | The following tables provide detailed information for the defined benefit plans. The amounts of the retirement benefit liabilities and the retirement benefit assets recognized in the consolidated statements of financial position at March 31, 2023 and 2022 were determined as follows: At March 31, 2023 2022 (In millions) Present value of unfunded obligations ¥ (32,531 ) ¥ (32,948 ) Present value of funded obligations (995,908 ) (1,083,182 ) Fair value of plan assets 1,663,637 1,642,554 Net retirement benefit assets (liabilities) before the asset ceiling ¥ 635,198 ¥ 526,424 Effect of the asset ceiling 110,075 17,928 Net retirement benefit assets (liabilities) ¥ 525,123 ¥ 508,496 Of which retirement benefit liabilities included in “Other liabilities” ¥ (37,021 ) ¥ (44,622 ) Of which retirement benefit assets included in “Other assets” ¥ 562,144 ¥ 553,118 |
Movements in Defined Benefit Obligation | The movements in the defined benefit obligations for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 1,116,130 ¥ 1,147,057 Current service cost 30,761 30,658 Interest cost 8,782 7,077 Actuarial losses (gains)—demographic assumptions (465 ) (689 ) Actuarial losses (gains)—financial assumptions (61,402 ) (30,384 ) Actuarial losses (gains)—experience 517 10,780 Benefits paid (43,135 ) (42,272 ) Lump-sum (16,004 ) (15,099 ) Past service cost (4,077 ) 7,175 Others (2,668 ) 1,827 At end of period ¥ 1,028,439 ¥ 1,116,130 |
Movements in Fair Value of the Plan Assets | The movements in the fair value of plan assets for the fiscal ye a For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 1,642,554 ¥ 1,627,110 Interest income 12,760 9,920 Return on plan assets excluding interest income 38,081 30,716 Contributions by employer 12,775 12,718 Benefits paid (43,135 ) (42,272 ) Others 602 4,362 At end of period ¥ 1,663,637 ¥ 1,642,554 |
Effect of the Asset Ceiling | The movements in the effect of the asset ceiling for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended 2023 2022 (In millions) At beginning of period ¥ 17,928 ¥ — Interest cost 133 — Change in the asset ceiling 92,014 17,928 At end of period ¥ 110,075 ¥ 17,928 |
Amounts Recognized in Consolidated Income Statement | The amounts recognized in “General and administrative expenses” in the consolidated income statements for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Current service cost ¥ 30,761 ¥ 30,658 ¥ 32,099 Net interest cost (3,845 ) (2,843 ) (1,415 ) Past service cost (4,077 ) 7,175 (28,023 ) Total ¥ 22,839 ¥ 34,990 ¥ 2,661 |
Plan Assets | The plan assets at March 31, 2023 and 2022 were composed as follows: At March 31, 2023 2022 Quoted in Other Total Quoted in Other Total (In millions) Plan assets retained in the pension funds: Equity instruments ¥ 195,852 ¥ 131,315 ¥ 327,167 ¥ 223,856 ¥ 134,300 ¥ 358,156 Debt instruments 16,857 214,122 230,979 10,790 212,974 223,764 General account of life insurance companies — 41,595 41,595 222 41,075 41,297 Other investments and short-term assets 42,810 417,427 460,237 38,051 402,958 441,009 Plan assets retained in the retirement benefit trusts: Equity instruments 511,553 2,253 513,806 488,762 2,357 491,119 Other short-term assets 80,668 9,185 89,853 78,318 8,891 87,209 Total ¥ 847,740 ¥ 815,897 ¥ 1,663,637 ¥ 839,999 ¥ 802,555 ¥ 1,642,554 |
Principal Actuarial Assumptions | The principal actuarial assumptions used at March 31, 2023, 2022 and 2021 were as follows: At March 31, 2023 2022 2021 Discount rates 1.2 % 0.8 % 0.6 % |
Sensitivity Analyses of Effect of Changes in Key Assumptions on Defined Benefit Obligations | The sensitivity analyses of the effect of changes in key assumptions on the defined benefit obligations at March 31, 2023 and 2022 were as follows: At March 31, 2023 2022 Increase/(decrease) Increase/(decrease) (In millions) Discount rates: Increase by 5 0 ¥ (54,832 ) ¥ (61,869 ) Decrease by 5 0 61,585 69,733 Average life expectancy at age 60: Increase of one year ¥ 30,466 ¥ 34,064 |
Weighted Average Durations of Defined Benefit Plans | The weighted average durations of defined benefit plans for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: At March 31, 2023 2022 2021 (Years) Lump-sum 11.3 12.7 12.9 Defined benefit pension plans 15.6 18.4 18.5 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Remeasurements of defined benefit plans [member] | |
Statement [Line Items] | |
Movement of Reserves | The movements of remeasurements of the defined benefit plans reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 197,310 ¥ 214,411 ¥ (2,553 ) Gains (losses) arising during the period, before tax 7,417 33,081 327,681 Income tax (expense) benefit for changes arising during the period (2,288 ) (10,027 ) (100,427 ) Amount attributable to non-controlling (9 ) 31 26 Share of other comprehensive income (loss) of associates and joint ventures 33 911 1,096 Transfer from other reserves to retained earnings (42,879 ) (41,097 ) (11,412 ) At end of period ¥ 159,584 ¥ 197,310 ¥ 214,411 |
Available-for-sale financial assets [member] | |
Statement [Line Items] | |
Movement of Reserves | The movements of the financial instruments at FVOCI reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 1,808,222 ¥ 2,106,255 ¥ 1,500,013 Gains (losses) arising during the period, before tax (264,309 ) (410,631 ) 996,972 Income tax (expense) benefit for changes arising during the period 81,384 125,617 (304,515 ) Reclassification adjustments for (gains) losses included in net profit, before tax 94,803 113,334 (79,711 ) Income tax (expense) benefit for reclassification adjustments (29,040 ) (34,705 ) 24,409 Amount attributable to non-controlling 15 3 4 Share of other comprehensive income (loss) of associates and joint ventures (3,980 ) (1,746 ) 5,751 Transfer from other reserves to retained earnings (111,902 ) (89,905 ) (36,668 ) At end of period ¥ 1,575,193 ¥ 1,808,222 ¥ 2,106,255 |
Exchange differences on translating foreign operations [member] | |
Statement [Line Items] | |
Movement of Reserves | The movements of exchange differences on translating the foreign operations reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 540,242 ¥ 113,646 ¥ 28,260 Gains (losses) arising during the period, before tax 304,252 404,292 86,842 Income tax (expense) benefit for changes arising during the period 2,509 (8,875 ) (3,784 ) Reclassification adjustments for (gains) losses included in net profit, before tax 5,385 192 446 Income tax (expense) benefit for reclassification adjustments (1,649 ) (59 ) (137 ) Amount attributable to non-controlling (311 ) (1,624 ) (469 ) Share of other comprehensive income (loss) of associates and joint ventures 34,362 32,670 2,488 At end of period ¥ 884,790 ¥ 540,242 ¥ 113,646 |
Own credit on financial liabilities designated at fair value through profit or loss reserve [Member] | |
Statement [Line Items] | |
Movement of Reserves | The movements of own credit on financial liabilities designated at fair value through profit or loss reserve for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) At beginning of period ¥ 520 ¥ (3,455 ) ¥ — Gains (losses) arising during the period, before tax 12,847 5,729 (4,981 ) Income tax (expense) benefit for changes arising during the period (3,934 ) (1,754 ) 1,526 At end of period ¥ 9,433 ¥ 520 ¥ (3,455 ) |
Common stock [Member] | |
Statement [Line Items] | |
Number of Shares | Common Stock The changes in the number of issued shares of common stock and common stock held by the Company or its subsidiaries during the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: For the fiscal year ended March 31, 2023 2022 2021 Outstanding In treasury Outstanding In treasury Outstanding In treasury At beginning of period 1,374,362,102 3,542,321 1,374,040,061 3,612,302 1,373,171,556 3,645,043 Net change 329,092 26,528,329 322,041 (69,981 ) 868,505 (32,741 ) At end of period 1,374,691,194 30,070,650 1,374,362,102 3,542,321 1,374,040,061 3,612,302 |
Preferred stock [Member] | |
Statement [Line Items] | |
Number of Shares | Preferred Stock The following table shows the number of shares of preferred stock at March 31, 2023 and 2022. At March 31, 2023 At March 31, 2022 Authorized Issued Authorized Issued Type 5 preferred stock 167,000 — 167,000 — Type 7 preferred stock 167,000 — 167,000 — Type 8 preferred stock 115,000 — 115,000 — Type 9 preferred stock 115,000 — 115,000 — |
Equity Attributable To Other _2
Equity Attributable To Other Equity Instruments Holders (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Equity Attributable to Other Equity Instruments Holders | Equity attributable to other equity instruments holders at March 31, 2023 and 2022 consisted of the following: At March 31, 2023 2022 (In millions) Perpetual subordinated bonds ¥ 755,802 ¥ 733,611 Perpetual subordinated borrowings ¥ 10,000 — Total equity attributable to other equity instruments holders ¥ 765,802 ¥ 733,611 |
Net Interest Income (Tables)
Net Interest Income (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Net Interest Income | Net interest income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Interest income from: Deposits with banks ¥ 309,704 ¥ 20,044 ¥ 17,411 Call loans and bills bought 75,923 13,898 11,091 Reverse repurchase agreements and cash collateral on securities borrowed 54,693 6,633 14,148 Investment securities 218,011 123,194 126,639 Loans and advances 3,037,745 1,583,885 1,611,081 Total interest income 3,696,076 1,747,654 1,780,370 Interest expense from: Deposits 1,068,750 101,991 179,910 Call money and bills sold 18,246 1,259 1,755 Repurchase agreements and cash collateral on securities lent 280,945 5,767 7,131 Borrowings 126,122 49,282 62,624 Debt securities in issue 373,313 106,505 109,205 Premiums for deposit insurance 22,915 37,970 35,813 Others 50,715 942 807 Total interest expense 1,941,006 303,716 397,245 Net interest income ¥ 1,755,070 ¥ 1,443,938 ¥ 1,383,125 |
Net Fee and Commission Income (
Net Fee and Commission Income (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Net Fee and Commission Income | Net fee and commission income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Fee and commission income from: Loans ¥ 145,078 ¥ 128,583 ¥ 132,523 Credit card business 380,345 333,109 304,787 Guarantees 71,612 66,199 64,422 Securities-related business 119,403 169,719 169,251 Deposits 18,230 16,302 14,763 Remittances and transfers 146,507 139,122 138,907 Safe deposits 4,228 4,025 4,160 Trust fees 6,753 5,940 4,885 Investment trusts 144,940 183,164 163,522 Agency 9,368 8,854 8,442 Others 216,270 193,208 168,720 Total fee and commission income 1,262,734 1,248,225 1,174,382 Fee and commission expense from: Remittances and transfers 28,885 32,604 39,417 Others 194,035 177,158 162,306 Total fee and commission expense 222,920 209,762 201,723 Net fee and commission income ¥ 1,039,814 ¥ 1,038,463 ¥ 972,659 |
Net Trading Income (Tables)
Net Trading Income (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Net Trading Income | Net trading income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Interest rate ¥ 351,815 ¥ 74,828 ¥ 38,987 Foreign exchange 317,203 186,146 168,462 Equity (40,691 ) 22,216 34,772 Credit (3,902 ) (1,812 ) (4,723 ) Others 1,618 (1,039 ) 248 Total net trading income ¥ 626,043 ¥ 280,339 ¥ 237,746 |
Net Income From Financial Ass_2
Net Income From Financial Assets And Liabilities At Fair Value Through Profit Or Loss (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Net Income from Financial Assets and Liabilities at Fair Value through Profit or Loss | Net income from financial assets and liabilities at fair value through profit or loss for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Net income from financial assets mandatorily at fair value through profit or loss: Net income from debt instruments ¥ 115,291 ¥ 156,792 ¥ 262,396 Net income from equity instruments 1,439 5,025 23,687 Net income (loss) from financial liabilities designated at fair value through profit or loss 56,581 38,432 (6,071 ) Total net income from financial assets and liabilities at fair value through profit or loss ¥ 173,311 ¥ 200,249 ¥ 280,012 |
Net Investment Income (Tables)
Net Investment Income (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Net Investment Income | Net investment income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Net gain (loss) from disposal of debt instruments ¥ (89,150 ) ¥ (29,546 ) ¥ 79,711 Dividend income 104,761 95,290 74,109 Total net investment income ¥ 15,611 ¥ 65,744 ¥ 153,820 |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Other Income | Other income for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income from operating leases ¥ 39,654 ¥ 32,733 ¥ 34,426 Income related to disposal of assets leased — 29 1,233 Income related to IT solution services 11,889 11,428 12,836 Gains on disposal of property, plant and equipment, and other intangible assets 3,326 1,708 3,035 Reversal of impairment losses of investments in associates and joint ventures 22,915 2,059 9,930 Gains on step acquisition of subsidiaries — — 405 Others 103,043 60,770 76,358 Total other income ¥ 180,827 ¥ 108,727 ¥ 138,223 |
Impairment Charges on Financi_2
Impairment Charges on Financial Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Impairment Charges on Financial Assets | Impairment charges (reversals) on financial assets for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Loans and advances ¥ 138,176 ¥ 269,060 ¥ 277,085 Loan commitments 8,016 9,555 12,729 Financial guarantees 2,272 1,363 (7,328 ) Total impairment charges on financial assets ¥ 148,464 ¥ 279,978 ¥ 282,486 |
General and Administrative Ex_2
General and Administrative Expenses (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of General and Administrative Expenses | General and administrative expenses for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Personnel expenses ¥ 922,452 ¥ 834,512 ¥ 770,769 Depreciation and amortization 262,702 264,290 255,702 Building and maintenance expenses 7,847 9,979 8,593 Supplies expenses 14,571 15,468 15,191 Communication expenses 31,182 32,839 33,454 Publicity and advertising expenses 143,500 126,090 89,924 Taxes and dues 84,020 82,293 83,554 Outsourcing expenses 123,293 115,157 111,737 Office equipment expenses 70,151 61,503 56,389 Others 305,699 259,490 253,802 Total general and administrative expenses ¥ 1,965,417 ¥ 1,801,621 ¥ 1,679,115 |
Other Expenses (Tables)
Other Expenses (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Other Expenses | Other expenses for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of the following: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Cost of operating leases ¥ 30,281 ¥ 22,922 ¥ 23,225 Cost related to disposal of assets leased 3,212 301 — Cost related to IT solution services and IT systems 94,071 89,762 84,691 Provision for interest repayment 28,818 31,596 38,344 Losses on disposal of property, plant and equipment, and other intangible assets 6,377 3,856 3,725 Impairment losses of property, plant and equipment 31,617 43,708 10,959 Impairment losses of intangible assets 135,519 55,816 42,846 Losses on sales of investments in subsidiaries and associates 8,216 — 680 Impairment losses of investments in associates and joint ventures (1) 56,461 42,460 12,537 Others 107,775 78,138 66,872 Total other expenses ¥ 502,347 ¥ 368,559 ¥ 283,879 (1) For the fiscal years ended March 31, 2023, 2022 and 2021, the Group recognized an impairment loss of ¥33,932 million, ¥42,218 million and ¥10,391 million, respectively, on investments in associates and joint ventures, due to the decline in the stock price of its equity-method associate, The Bank of East Asia, Limited. |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Detail of Income Tax Expense | The detail of income tax expense for the fiscal years ended March 31, 2023, 2022 and 2021 was as follows: For the fiscal year ended March 31, 2023 2022 2021 (In millions) Current tax: Charge for period (1) ¥ 184,662 ¥ 190,842 ¥ 207,742 Deferred tax: Origination and reversal of temporary differences 146,130 (25,248 ) 48,295 Change in the write-down of deferred tax assets on the current fiscal year income tax expense (4,765 ) (4,205 ) (4,635 ) Total deferred tax expense (benefit) 141,365 (29,453 ) 43,660 Total income tax expense ¥ 326,027 ¥ 161,389 ¥ 251,402 (1) As a result of the adoption of IFRS 9, the current income tax expenses of ¥39,837 million, ¥44,110 million and ¥13,851 million were recognized directly in equity for the fiscal years ended March 31, 2023, 2022 and 2021, respectively. |
Reconciliations of Effective Income Tax Rates | The following table shows the reconciliations of the effective income tax rates for the fiscal years ended March 31, 2023, 2022 and 2021. For the fiscal year ended March 31, 2023 2022 2021 (In millions, except percentages) Profit before tax ¥ 1,261,876 ¥ 676,464 ¥ 956,478 Income tax expense 326,027 161,389 251,402 Effective income tax rate 25.8 % 23.9 % 26.3 % Effective statutory tax rate in Japan (1) 30.6 % 30.6 % 30.6 % Tax impact of share of post-tax profit in associates and joint ventures (2.1 %) 0.5 % (1.2 %) Non-Japanese earnings (1.3 %) (2.2 %) (1.6 %) Tax impact of impairment losses of goodwill 0.9 % — 1.4 % Tax impact of impairment losses and reversal of impairment losses for investments in associates and joint ventures—net 0.8 % (4.5 %) 0.1 % Nontaxable dividends received (0.8 %) (1.3 %) (0.7 %) Effect of the change in the write-down of deferred tax assets on the current fiscal year income tax expense (0.4 %) (0.6 %) (0.5 %) Others—net (1.9 % ) 1.4 % (1.8 %) Effective income tax rate 25.8 % 23.9 % 26.3 % (1) The effective statutory tax rate in Japan for the fiscal year ended March 31, 2023 , |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Earnings Per Share | The following table shows the income and share data used in the basic and diluted earnings per share calculations for the fiscal years ended March 31, 2023, 2022 and 2021. For the fiscal year ended March 31, 2023 2022 2021 (In millions, except number of shares and Basic: Profit attributable to shareholders of the Company ¥ 911,831 ¥ 499,573 ¥ 687,483 Weighted average number of common stock in issue (in thousands of shares) 1,364,770 1,370,738 1,370,214 Basic earnings per share ¥ 668.12 ¥ 364.46 ¥ 501.73 Diluted: Profit attributable to the common shareholders of the Company ¥ 911,831 ¥ 499,573 ¥ 687,483 Impact of dilutive potential ordinary shares issued by subsidiaries — — — Net profit used to determine diluted earnings per share ¥ 911,831 ¥ 499,573 ¥ 687,483 Weighted average number of common stock in issue (in thousands of shares) 1,364,770 1,370,738 1,370,214 Adjustments for stock options (in thousands of shares) 463 561 658 Weighted average number of common stock for diluted earnings per share (in thousands of shares) 1,365,233 1,371,299 1,370,872 Diluted earnings per share ¥ 667.89 ¥ 364.31 ¥ 501.49 |
Transfers of Financial Assets (
Transfers of Financial Assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Carrying Amounts and Fair Values of Transferred Financial Assets that did not Qualify for Derecognition and Associated Financial Liabilities | The following tables show the carrying amounts and fair values of transferred financial assets that did not qualify for derecognition and their associated financial liabilities at March 31, 2023 and 2022: At March 31, 2023 Repurchase Loans and advances Residential Corporate (In millions) Carrying amount of assets ¥ 14,250,991 ¥ 1,539,886 ¥ 938,289 Carrying amount of associated liabilities 11,094,932 1,208,993 873,240 For those liabilities that have recourse only Fair value of assets ¥ — ¥ 1,629,544 ¥ 942,644 Fair value of associated liabilities — 1,205,124 873,240 Net position ¥ — ¥ 424,420 ¥ 69,404 At March 31, 2022 Repurchase Loans and advances Residential Corporate (In millions) Carrying amount of assets ¥ 13,217,653 ¥ 1,517,316 ¥ 874,174 Carrying amount of associated liabilities 10,842,730 1,196,264 807,532 For those liabilities that have recourse only Fair value of assets ¥ — ¥ 1,696,689 ¥ 877,258 Fair value of associated liabilities — 1,241,195 807,532 Net position ¥ — ¥ 455,494 ¥ 69,726 |
Assets Pledged and Received a_2
Assets Pledged and Received as Collateral (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Carrying Amounts of Assets Pledged as Collateral | The carrying amounts of assets pledged as collateral at March 31, 2023 and 2022 were as follows: At March 31, 2023 2022 (In millions) Cash and deposits with banks ¥ 28,436 ¥ 201,859 Trading assets 2,631,213 2,333,497 Debt instruments at amortized cost 94,849 22,300 Debt instruments at fair value through other comprehensive income 17,817,319 22,873,692 Equity instruments at fair value through other comprehensive income 4,512 5,334 Loans and advances 12,502,342 11,223,871 Other s 3,291,524 2,960,376 Total ¥ 36,370,195 ¥ 39,620,929 |
Share-based Payment (Tables)
Share-based Payment (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Significant Terms and Conditions of Stock Option Plan | The following table provides an overview of the significant terms and conditions of the stock option plan. Title of grantees Exercise period Requisite service period Method of settlement SMFG Stock Acquisition Rights Directors, corporate auditors and executive officers of SMFG and SMBC Not exceeding 30 years from the date of allocation of stock acquisition rights (1) One year from the date of the ordinary general meeting of shareholders of SMFG to the closing of the next ordinary general meeting of shareholders of SMFG Common stock of SMFG (1) A stock acquisition rights holder can exercise the rights from the day they are relieved of their positions either as a director, a corporate auditor or an executive officer (“Start of Exercise Date”) to 20 years from the Start of Exercise Date. |
Number and Weighted Average Exercise Prices of Stock Options | The number and the weighted average exercise prices of stock options for the fiscal years ended March 31, 2023 and 2022 were as follows: For the fiscal year ended March 31, 2023 2022 Number of (1) Weighted Number of (1) Weighted Outstanding at beginning of period 537,900 ¥ 1 634,700 ¥ 1 Exercised (110,100 ) 1 (96,800 ) 1 Outstanding at end of period 427,800 ¥ 1 537,900 ¥ 1 Exercisable at end of period 296,200 ¥ 1 332,200 ¥ 1 (1) Number of options is the number of SMFG’s common stock granted by the exercise of stock options. |
Summarized Information about Stock Options Outstanding | Summarized information about stock options outstanding at March 31, 2023 and 2022 was as follows: At March 31, 2023 2022 Exercise Number of Remaining Number of Remaining SMFG Stock Acquisition Rights ¥ 1 427,800 20.1 537,900 21.3 |
Summary of Restricted Shares | The number of restricted shares and the fair value of restricted shares at the me asu For the fiscal year ended 2023 2022 Outstanding at beginning of period 1,399,680 1,266,013 Allotted 329,092 322,041 Released (221,673 ) (179,557 ) Forfeited — (8,817 ) Outstanding at end of period 1,507,099 1,399,680 Fair value at measurement date ¥ 4,004 ¥ 3,749 |
Dividends Per Share (Tables)
Dividends Per Share (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Dividends Per Share | The dividends recognized by the Company for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows: Dividends per share Aggregate amount (In yen) (In millions) For the fiscal year ended March 31, 2023: Common stock ¥ 220 ¥ 301,627 For the fiscal year ended March 31, 2022: Common stock ¥ 200 ¥ 274,127 For the fiscal year ended March 31, 2021: Common stock ¥ 195 ¥ 267,144 |
Contingency and Capital Commi_2
Contingency and Capital Commitments (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Nominal Amounts of Undrawn Loan Commitments and Financial Guarantees and Other Credit-Related Contingent Liabilities | The table below shows the nominal amounts of undrawn loan commitments, and financial guarantees and other credit-related contingent liabilities at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Loan commitments ¥ 79,068,816 ¥ 73,246,384 Financial guarantees and other credit-related contingent liabilities 13,693,772 11,722,240 Total ¥ 92,762,588 ¥ 84,968,624 |
Analysis of Financial Assets _2
Analysis of Financial Assets and Liabilities by Measurement Basis (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Carrying Amounts of Financial Assets and Liabilities by Category and Line Item | The following tables present the carrying amounts of the financial assets and liabilities, by category and by line item, of the consolidated statements of financial position. At March 31, 2023 Financial assets and Financial assets and Debt instruments at Equity instruments at Total (In millions) Financial assets: Cash and deposits with banks ¥ — ¥ 76,465,511 ¥ — ¥ — ¥ 76,465,511 Call loans and bills bought — 5,684,812 — — 5,684,812 Reverse repurchase agreements and cash collateral on securities borrowed — 11,024,084 — — 11,024,084 Trading assets 4,585,915 — — — 4,585,915 Derivative financial instruments 8,649,947 — — — 8,649,947 Financial assets at fair value through profit or loss 1,488,239 — — — 1,488,239 Investment securities — 235,567 22,811,423 4,548,608 27,595,598 Loans and advances — 111,891,134 — — 111,891,134 Other financial assets (1) — 5,360,634 — — 5,360,634 Total ¥ 14,724,101 ¥ 210,661,742 ¥ 22,811,423 ¥ 4,548,608 ¥ 252,745,874 Financial liabilities: Deposits (2) ¥ (12,641 ) ¥ 172,940,451 ¥ — ¥ — ¥ 172,927,810 Call money and bills sold — 2,569,056 — — 2,569,056 Repurchase agreements and cash collateral on securities lent — 17,786,026 — — 17,786,026 Trading liabilities 3,291,089 — — — 3,291,089 Derivative financial instruments 10,496,855 — — — 10,496,855 Financial liabilities designated at fair value through profit or loss 414,106 — — — 414,106 Borrowings (2) (822 ) 15,372,623 — — 15,371,801 Debt securities in issue (2) 1,525 11,983,469 — — 11,984,994 Other financial liabilities (1) — 8,522,212 — — 8,522,212 Total ¥ 14,190,112 ¥ 229,173,837 ¥ — ¥ — ¥ 243,363,949 At March 31, 2022 Financial assets and Financial assets and Debt instruments at Equity instruments at Total (In millions) Financial assets: Cash and deposits with banks ¥ — ¥ 75,697,521 ¥ — ¥ — ¥ 75,697,521 Call loans and bills bought — 1,965,135 — — 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed — 11,303,930 — — 11,303,930 Trading assets 3,736,296 — — — 3,736,296 Derivative financial instruments 6,443,748 — — — 6,443,748 Financial assets at fair value through profit or loss 1,695,585 — — — 1,695,585 Investment securities — 83,954 28,066,966 4,598,485 32,749,405 Loans and advances — 104,635,815 — — 104,635,815 Other financial assets (1) — 5,309,839 — — 5,309,839 Total ¥ 11,875,629 ¥ 198,996,194 ¥ 28,066,966 ¥ 4,598,485 ¥ 243,537,274 Financial liabilities: Deposits (2) ¥ (8,569 ) ¥ 162,602,061 ¥ — ¥ — ¥ 162,593,492 Call money and bills sold — 1,130,000 — — 1,130,000 Repurchase agreements and cash collateral on securities lent — 20,113,162 — — 20,113,162 Trading liabilities 3,181,992 — — — 3,181,992 Derivative financial instruments 6,966,336 — — — 6,966,336 Financial liabilities designated at fair value through profit or loss 455,734 — — — 455,734 Borrowings (2) (138 ) 20,584,789 — — 20,584,651 Debt securities in issue (2) 5,721 11,422,716 — — 11,428,437 Other financial liabilities (1) 851 7,808,826 — — 7,809,677 Total ¥ 10,601,927 ¥ 223,661,554 ¥ — ¥ — ¥ 234,263,481 (1) Other financial assets and liabilities comprise of those included in other assets and liabilities, which meet the definition of a financial asset and liability. (2) Embedded derivatives, which are separately accounted for, but presented together with the host contract in the consolidated statements of financial position, are disclosed in this table within the category of “Financial assets and liabilities at fair value through profit or loss.” Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in this table as liabilities to be consistent with the line of the host contract. |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Carrying Amounts of Financial Assets and Liabilities Carried at Fair Value | The following tables present the carrying amounts of financial assets and liabilities carried at fair value based on the three levels of the fair value hierarchy at March 31, 2023 and 2022. At March 31, 2023 Level 1 (1) Level 2 (1) Level 3 Total (In millions) Financial assets: Trading assets: Debt instruments ¥ 3,732,551 ¥ 497,294 ¥ — ¥ 4,229,845 Equity instruments 340,365 15,705 — 356,070 Total trading assets 4,072,916 512,999 — 4,585,915 Derivative financial instruments: Interest rate derivatives 130,725 5,658,891 — 5,789,616 Currency derivatives 145 2,774,537 499 2,775,181 Equity derivatives 20,571 13,002 20,935 54,508 Commodity derivatives 407 8,735 — 9,142 Credit derivatives — 21,142 358 21,500 Total derivative financial instruments 151,848 8,476,307 21,792 8,649,947 Financial assets at fair value through profit or loss: Debt instruments 343,539 398,883 650,467 1,392,889 Equity instruments 2,829 7,320 85,201 95,350 Total financial assets at fair value through profit or loss 346,368 406,203 735,668 1,488,239 Investment securities at fair value through other comprehensive income: Japanese government bonds 9,576,298 — — 9,576,298 U.S. Treasury and other U.S. government agency bonds 5,232,456 — — 5,232,456 Other debt instruments 1,503,857 6,498,812 — 8,002,669 Total debt instruments 16,312,611 6,498,812 — 22,811,423 Equity instruments 4,076,610 7,177 464,821 4,548,608 Total investment securities at fair value through other comprehensive 20,389,221 6,505,989 464,821 27,360,031 Total ¥ 24,960,353 ¥ 15,901,498 ¥ 1,222,281 ¥ 42,084,132 Financial liabilities: Trading liabilities: Debt instruments ¥ 3,017,272 ¥ 84,161 ¥ — ¥ 3,101,433 Equity instruments 183,935 5,721 — 189,656 Total trading liabilities 3,201,207 89,882 — 3,291,089 Derivative financial instruments: Interest rate derivatives 92,387 7,317,498 3,248 7,413,133 Currency derivatives — 3,001,220 5,066 3,006,286 Equity derivatives 34,204 894 7,110 42,208 Commodity derivatives 1,247 6,699 — 7,946 Credit derivatives — 27,074 208 27,282 Total derivative financial instruments 127,838 10,353,385 15,632 10,496,855 Financial liabilities designated at fair value through profit or loss — 229,086 185,020 414,106 Others (2) — (4,086 ) (7,852 ) (11,938 ) Total ¥ 3,329,045 ¥ 10,668,267 ¥ 192,800 ¥ 14,190,112 At March 31, 2022 Level 1 (1) Level 2 (1) Level 3 Total (In millions) Financial assets: Trading assets: Debt instruments ¥ 2,860,215 ¥ 629,043 ¥ — ¥ 3,489,258 Equity instruments 245,186 1,852 — 247,038 Total trading assets 3,105,401 630,895 — 3,736,296 Derivative financial instruments: Interest rate derivatives 612,246 2,981,691 6 3,593,943 Currency derivatives 101 2,697,933 5,951 2,703,985 Equity derivatives 74,820 689 26,804 102,313 Commodity derivatives 1,413 20,127 — 21,540 Credit derivatives — 21,318 649 21,967 Total derivative financial instruments 688,580 5,721,758 33,410 6,443,748 Financial assets at fair value through profit or loss: Debt instruments 516,455 447,738 693,013 1,657,206 Equity instruments 2,375 120 35,884 38,379 Total financial assets at fair value through profit or loss 518,830 447,858 728,897 1,695,585 Investment securities at fair value through other comprehensive income: Japanese government bonds 15,774,197 — — 15,774,197 U.S. Treasury and other U.S. government agency bonds 5,681,789 — — 5,681,789 Other debt instruments 1,378,880 5,232,100 — 6,610,980 Total debt instruments 22,834,866 5,232,100 — 28,066,966 Equity instruments 4,117,832 11,940 468,713 4,598,485 Total investment securities at fair value through other comprehensive income 26,952,698 5,244,040 468,713 32,665,451 Total ¥ 31,265,509 ¥ 12,044,551 ¥ 1,231,020 ¥ 44,541,080 Financial liabilities: Trading liabilities: Debt instruments ¥ 3,026,965 ¥ 125,078 ¥ — ¥ 3,152,043 Equity instruments 23,339 6,610 — 29,949 Total trading liabilities 3,050,304 131,688 — 3,181,992 Derivative financial instruments: Interest rate derivatives 218,193 3,547,303 7,168 3,772,664 Currency derivatives 204 2,983,028 4,299 2,987,531 Equity derivatives 145,021 2,676 11,420 159,117 Commodity derivatives 202 19,342 — 19,544 Credit derivatives — 27,352 128 27,480 Total derivative financial instruments 363,620 6,579,701 23,015 6,966,336 Financial liabilities designated at fair value through profit or loss — 164,648 291,086 455,734 Others (2)(3) — 917 (3,052 ) (2,135 ) Total ¥ 3,413,924 ¥ 6,876,954 ¥ 311,049 ¥ 10,601,927 (1) Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the period. There were no significant transfers between Level 1 and Level 2 for the fiscal years ended March 31, 2023 and 2022. (2) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. The separated embedded derivatives are measured at fair value using the valuation techniques described in “Derivative financial instruments (including embedded derivatives)” below. (3) Contingent consideration liabilities arising from business combinations, which are measured at fair value using discounted cash flow models, are presented as others. |
Reconciliations for Financial Assets and Liabilities Carried at Fair Value | The following tables present reconciliations from the beginning to the ending balances for financial assets and liabilities carried at fair value and categorized within Level 3 of the fair value hierarchy for the fiscal years ended March 31, 2023 and 2022. At April 1, Total gains (losses) Purchases Sales Issuances Settlement (1) Transfers (2) Transfers (2) At March 31, Changes in Included in Included in (In millions) Derivative financial instruments—net: Interest rate derivatives—net ¥ (7,162 ) ¥ (1,514 ) ¥ — ¥ 554 ¥ — ¥ — ¥ — ¥ — ¥ 4,874 ¥ (3,248 ) ¥ (959 ) Currency derivatives—net 1,652 (697 ) — — — — — — (5,522 ) (4,567 ) (2,302 ) Equity derivatives—net 15,384 3,012 — 5,595 (10,166 ) — — — — 13,825 7,693 Credit derivatives—net 521 (371 ) — — — — — — — 150 (240 ) Total derivative financial instruments—net 10,395 430 — 6,149 (10,166 ) — — — (648 ) 6,160 4,192 Financial assets at fair value through profit or loss: Debt instruments 693,013 (4,804 ) 301 157,152 (42,145 ) — (69,317 ) — (83,733 ) 650,467 (6,742 ) Equity instruments 35,884 6,033 — 46,374 (525 ) — (1,381 ) — (1,184 ) 85,201 5,688 Total financial assets at fair value through profit or loss 728,897 1,229 301 203,526 (42,670 ) — (70,698 ) — (84,917 ) 735,668 (1,054 ) Investment securities at fair value through other comprehensive Equity instruments 468,713 — 8,865 5,380 (17,578 ) — (571 ) 12 — 464,821 — Total investment securities at fair value through other 468,713 — 8,865 5,380 (17,578 ) — (571 ) 12 — 464,821 — Financial liabilities designated at fair value through profit or loss (291,086 ) (20,742 ) 2,129 — — (56,316 ) 180,995 — — (185,020 ) 13,496 Others (3) 3,052 6,078 — 940 — — — — (2,218 ) 7,852 7,671 Total ¥ 919,971 ¥ (13,005 ) ¥ 11,295 ¥ 215,995 ¥ (70,414 ) ¥ (56,316 ) ¥ 109,726 ¥ 12 ¥ (87,783 ) ¥ 1,029,481 ¥ 24,305 At April 1, Total gains (losses) Purchases Sales Issuances Settlement (1) Transfers (2) Transfers (2) At March 31, Changes in Included in Included in (In millions) Derivative financial instruments—net: Interest rate derivatives—net ¥ (3,588 ) ¥ (3,759 ) ¥ — ¥ 316 ¥ — ¥ — ¥ — ¥ — ¥ (131 ) ¥ (7,162 ) ¥ (3,473 ) Currency derivatives—net (5,341 ) 6,944 — — — — — — 49 1,652 6,314 Equity derivatives—net 7,132 9,057 — 8,931 (9,736 ) — — — — 15,384 12,567 Credit derivatives—net 1,766 (647 ) 12 — — — (610 ) — — 521 (371 ) Total derivative financial instruments—net (31 ) 11,595 12 9,247 (9,736 ) — (610 ) — (82 ) 10,395 15,037 Financial assets at fair value through profit or loss: Debt instruments 561,450 81,856 207 155,295 (49,939 ) — (53,086 ) — (2,770 ) 693,013 79,696 Equity instruments 32,777 (752 ) — 11,708 (2,322 ) — (4,479 ) — (1,048 ) 35,884 (2,148 ) Total financial assets at fair value through profit or loss 594,227 81,104 207 167,003 (52,261 ) — (57,565 ) — (3,818 ) 728,897 77,548 Investment securities at fair value through other comprehensive income: Equity instruments 447,605 — 19,569 53,759 (45,606 ) — (6,613 ) — (1 ) 468,713 — Total investment securities at fair value through other comprehensive income 447,605 — 19,569 53,759 (45,606 ) — (6,613 ) — (1 ) 468,713 — Financial liabilities designated at fair value through profit or loss (166,896 ) 44,122 2,057 — — (391,051 ) 215,304 — 5,378 (291,086 ) 44,898 Others (3) (1,104 ) 4,934 — — — — — — (778 ) 3,052 5,345 Total ¥ 873,801 ¥ 141,755 ¥ 21,845 ¥ 230,009 ¥ (107,603 ) ¥ (391,051 ) ¥ 150,516 ¥ — ¥ 699 ¥ 919,971 ¥ 142,828 (1) Settlements for equity instruments include redemption of preferred stocks and receipt of cash distributions which represent a return of investment. (2) Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the period. For the fiscal year ended March 31, 2023, transfers out of Level 3 amounted to ¥87,783 million primarily due to a decrease of significance of unobservable inputs related to liquidity risk of certain investment funds. On the other hand, for the fiscal year ended March 31, 2022, those amounted million primarily due to an increase in observability of inputs for certain financial liabilities designated at fair value through profit or loss. (3) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. |
Total and Changes in Unrealized Gains or Losses Included in Profit or Loss for Level 3 Financial Assets and Liabilities | The following table presents total gains or losses included in profit or loss for the Level 3 financial assets and liabilities, and changes in unrealized gains or losses included in profit or loss related to those financial assets and liabilities held at March 31, 2023 and 2022 by line item of the consolidated income statements. Total gains (losses) Changes in unrealized 2023 2022 2023 2022 (In millions) Net interest income ¥ 1,478 ¥ 3,757 ¥ 1,078 ¥ 1,317 Net trading income 5,119 12,578 10,785 18,871 Net income (loss) from financial assets and liabilities at fair value through profit or loss (19,513 ) 125,226 12,442 122,446 Other income (expenses) (89 ) 194 — 194 Total ¥ (13,005 ) ¥ 141,755 ¥ 24,305 ¥ 142,828 |
Summary of Aggregate Deferred Day One Profit Yet to Be Recognized in Profit | The aggregate deferred day one profit yet to be recognized in profit or loss at the beginning and end of the fiscal years ended March 31, 2023 and 2022 and reconciliation of changes in the balances were as follows: For the fiscal year ended March 31, 2023 2022 (In millions) Balance at beginning of period ¥ 27,100 ¥ 18,392 Increase due to new trades 18,402 32,487 Reduction due to redemption, sales or passage of time (23,226 ) (23,779 ) Balance at end of period ¥ 22,276 ¥ 27,100 |
Quantitative Information about Significant Unobservable Inputs Used in the Fair Value Measurement for Level 3 Financial Assets and Liabilities | The following tables present quantitative information about significant unobservable inputs used in the fair value measurement for Level 3 financial assets and liabilities at March 31, 2023 and 2022. At March 31, 2023 Assets Liabilities Valuation (1) Significant unobservable inputs (1) Range of (1) (In millions) Derivative financial instruments: Interest rate derivatives ¥ — ¥ 3,248 Option model Interest rate to interest rate correlation 26%-99% Quanto correlation (11%)-42% Currency derivatives 499 5,066 Option model Interest rate to interest rate correlation 29%-99% Quanto correlation 8%-50% Foreign exchange volatility 12%-36% Equity derivatives 20,935 7,110 Option model Equity to equity correlation 48%-92% Quanto correlation (13%)-38% Equity volatility 12%-70% Credit derivatives 358 208 Credit Default model Quanto correlation 15%-25% Financial assets at fair value through profit or loss: Debt instruments 650,467 — Option model Foreign exchange volatility 13%-43% DCF model Probability of default rate 0%-33% Loss given default rate 0%-100% Discount margin 5%-9% Net asset value (2) — — Equity instruments 85,201 — Market multiples Price/Book value multiple 1.1x DCF model Probability of default rate 0%-1% Loss given default rate 90% See note (3) below — — Investment securities at fair value through other comprehensive income: Equity instruments 464,821 — Market multiples Price/Book value multiple 0.2x-3.7x Liquidity discount 20% See note (3) below — — Financial liabilities designated at fair value through profit or loss — 185,020 Option model Equity to equity correlation 47%-93% Interest rate to interest rate correlation 29%-30% Quanto correlation (13%)-50% Equity volatility 17%-52% Credit Default model Quanto correlation 15%-25% Others (4) — (7,852 ) Option model Equity to equity correlation 80%-83% Interest rate to interest rate correlation 26%-99% Quanto correlation (11%)-50% Equity volatility 24%-28% Foreign exchange volatility 12%-43% Credit Default model Quanto correlation 15%-25% At March 31, 2022 Assets Liabilities Valuation (1) Significant unobservable inputs (1) Range of (1) (In millions) Derivative financial instruments: Interest rate derivatives ¥ 6 ¥ 7,168 Option model Interest rate to interest rate correlation 16%-99% Quanto correlation 7%-30% Currency derivatives 5,951 4,299 Option model Interest rate to interest rate correlation 29%-99% Quanto correlation 7%-49% Foreign exchange volatility 11%-39% DCF model Prepayment rate 22% Equity derivatives 26,804 11,420 Option model Equity to equity correlation 45%-92% Quanto correlation (16% ) Equity volatility 17%-79% Credit derivatives 649 128 Credit Default model Quanto correlation 15%-25% Financial assets at fair value through profit or loss: Debt instruments 693,013 — Monte Carlo Simulation Equity volatility 17%-38% Option model Foreign exchange volatility 12%-41% DCF model Probability of default rate 0%-23% Loss given default rate 10%-100% Net asset value (2) — — Equity instruments 35,884 — DCF model Probability of default rate 0%-2% Loss given default rate 90% See note (3) below — — Investment securities at fair value through other comprehensive income: Equity instruments 468,713 — Market multiples Price/Earnings multiple 9.3x-48.5x Price/Book value multiple 0.3x-2.2x EV/EBITDA multiple 5.8x-15.5x Liquidity discount 20% See note (3) below — — Financial liabilities designated at fair value through profit or loss — 291,086 Option model Equity to equity correlation 43%-93% Interest rate to interest rate correlation 29%-30% Quanto correlation (16% ) Equity volatility 13%-57% Credit Default model Quanto correlation 15%-25% Others (4) — (3,052 ) Option model Equity to equity correlation 57%-93% Interest rate to interest rate correlation 16%-99% Quanto correlation 7%-49% Equity volatility 17%-49% Foreign exchange volatility 12%-41% Credit Default model Quanto correlation 15%-90% (1) Valuation techniques and unobservable inputs for insignificant Level 3 financial assets and liabilities are excluded. (2) The Group has determined that the net asset value represents fair values of certain investment funds. (3) Fair values of certain equity instruments such as unlisted stocks are estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors. A range of key inputs is not provided in these tables as it is not practical to do so given the nature of such valuation techniques. (4) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. |
Impact of Valuation Sensitivity | The following tables present the impact of the valuation sensitivity, if these inputs fluctuate to the extent deemed reasonable and the volatility of such inputs has a significant impact on the fair value. At March 31, 2023 Total fair value Effect recorded in Effect recorded Favorable Unfavorable Favorable Unfavorable (In millions) Financial instruments—net: Derivative financial instruments—net: Interest rate derivatives—net ¥ (3,248 ) ¥ — ¥ — ¥ — ¥ — Currency derivatives—net (4,567 ) 6 6 — — Equity derivatives—net 13,825 2,462 2,467 — — Credit derivatives—net 150 17 17 — — Financial assets at fair value through profit or loss: Debt instruments 650,467 917 4,533 — — Equity instruments 85,201 362 875 — — Investment securities at fair value through other comprehensive income: Equity instruments 464,821 — — 15,368 15,368 Financial liabilities designated at fair value through profit or loss (1) (185,020 ) 1,007 1,109 — — Others (1)(2) 7,852 62 61 — — At March 31, 2022 Total fair value Effect recorded in Effect recorded Favorable Unfavorable Favorable Unfavorable (In millions) Financial instruments—net: Derivative financial instruments—net: Interest rate derivatives—net ¥ (7,162 ) ¥ — ¥ — ¥ — ¥ — Currency derivatives—net 1,652 75 73 — — Equity derivatives—net 15,384 3,274 3,309 — — Credit derivatives—net 521 17 18 — — Financial assets at fair value through profit or loss: Debt instruments 693,013 3,347 7,422 — — Equity instruments 35,884 88 167 — — Investment securities at fair value through other comprehensive income: Equity instruments 468,713 — — 12,914 12,019 Financial liabilities designated at fair value through profit or loss (1) (291,086 ) 2,008 2,319 — — Others (1)(2) 3,052 126 118 — — (1) As part of risk management, the Group enters into transactions to offset the profit or loss of certain financial instruments, including embedded derivatives. Sensitivity of embedded derivatives related to these transactions is presented as derivative financial instruments or financial assets at fair value through profit or loss, according to the presentation of the financial instruments arising from these transactions. (2) Derivatives embedded in financial liabilities, except for financial liabilities designated at fair value through profit or loss, are separately accounted for, but presented together with the host contract in the consolidated statements of financial position. In these tables, the separated embedded derivatives whose host contracts are carried at amortized cost are presented within others. Although the separated embedded derivatives may have a positive or a negative fair value, they have been presented in these tables as liabilities to be consistent with the host contract. |
Financial Assets and Liabilities Not Carried at Fair Value | The tables below present the carrying amounts and fair values by level within the fair value hierarchy, as described in “Financial Assets and Liabilities Carried at Fair Value—Fair Value Hierarchy,” of financial assets and liabilities not carried at fair value on the Group’s consolidated statements of financial position at March 31, 2023 and 2022. They do not include the carrying amounts and fair values of financial assets and liabilities whose carrying amounts are reasonable approximations of fair values. At March 31, 2023 Carrying Fair value Notes Total Level 1 Level 2 Level 3 (In millions) Financial assets: Investment securities: Debt instruments at amortized cost a ¥ 235,567 ¥ 235,541 ¥ 165,208 ¥ 70,333 ¥ — Loans and advances b 111,891,134 114,154,110 — 237,232 113,916,878 Other financial assets b 5,360,634 5,357,987 — 5,307,316 50,671 Financial liabilities: Deposits: Non-interest-bearing c ¥ 123,181,105 ¥ 123,009,507 ¥ — ¥ 123,009,507 ¥ — Other deposits c 49,746,705 49,607,234 — 49,481,149 126,085 Borrowings c 14,954,804 14,876,449 — 14,868,020 8,429 Debt securities in issue c 11,984,994 11,828,910 — 11,726,142 102,768 Other financial liabilities c 8,522,212 8,522,110 — 8,387,339 134,771 At March 31, 2022 Carrying Fair value Notes Total Level 1 Level 2 Level 3 (In millions) Financial assets: Investment securities: Debt instruments at amortized cost a ¥ 83,954 ¥ 83,965 ¥ 25,522 ¥ 58,443 ¥ — Loans and advances b 104,635,815 107,177,195 — 300,485 106,876,710 Other financial assets b 5,309,839 5,307,008 — 5,255,558 51,450 Financial liabilities: Deposits: Non-interest-bearing c ¥ 114,512,622 ¥ 114,511,759 ¥ — ¥ 114,511,759 ¥ — Other deposits c 48,080,870 48,074,478 — 47,944,259 130,219 Borrowings c 20,200,944 20,234,044 — 20,225,380 8,664 Debt securities in issue c 11,428,437 11,440,260 — 11,321,643 118,617 Other financial liabilities c 7,808,826 7,808,773 — 7,681,488 127,285 Notes: a. The fair values of debt instruments at amortized cost are determined using quoted prices in active markets or observable inputs other than quoted prices in active markets. b. (i) The carrying amounts of loans with no specified repayment dates represent a reasonable estimate of fair value, considering the nature of these financial instruments. (ii) Short-term financial assets: The carrying amounts represent a reasonable estimate of fair value. (iii) Long-term financial assets: Except for impaired loans and advances, the fair values are mostly determined using discounted cash flow models taking into account certain factors including counterparties’ credit ratings, pledged collateral, and market interest rates. The fair values of impaired loans and advances are generally determined by discounting the estimated future cash flows over the time period they are expected to be recovered, and may be based on the appraisal value of underlying collateral as appropriate. c. Note that some of the financial liabilities in this category include embedded derivatives, which are separately accounted for, but presented together with the host contract. (i) The carrying amounts of demand deposits and deposits without maturity represent a reasonable estimate of fair value, considering the nature of these financial instruments. (ii) Short-term financial liabilities: The carrying amounts represent a reasonable estimate of fair value. (iii) Long-term financial liabilities: The fair values are, in principle, based on the present values of future cash flows calculated using the funding costs for the remaining maturities. The fair values of debt securities in issue are based on a price quoted by a third party, such as a pricing service or broker, or the present values of future cash flows calculated using the rate derived from yields of bonds issued by SMFG, SMBC and other subsidiaries and publicly offered subordinated bonds published by securities firms. (iv) The carrying amounts and fair values of lease liabilities are not included in these tables. |
Offsetting of Financial Asset_2
Offsetting of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Offsetting of Financial Assets and Liabilities | The following tables present the information about the impact of offsetting of financial assets and liabilities in the consolidated statements of financial position in accordance with the criteria described in Note 2 “Summary of Significant Accounting Policies,” as well as the impact of netting of financial instruments that are subject to enforceable master netting arrangements or similar agreements but do not qualify for the offsetting criteria at March 31, 2023 and 2022. At March 31, 2023 Gross amounts Gross amounts (1) Net amounts Related amounts not offset in (2) Financial (3) Cash collateral Net amounts (In millions) Financial assets (4) Reverse repurchase agreements and cash collateral on securities borrowed ¥ 12,635,719 ¥ (1,611,635 ) ¥ 11,024,084 ¥ (10,845,394 ) ¥ — ¥ 178,690 Derivative financial instruments 9,862,036 (1,212,089 ) 8,649,947 (5,741,157 ) (969,175 ) 1,939,615 Total ¥ 22,497,755 ¥ (2,823,724 ) ¥ 19,674,031 ¥ (16,586,551 ) ¥ (969,175 ) ¥ 2,118,305 Financial liabilities (4) Repurchase agreements and cash collateral on securities lent ¥ 19,397,661 ¥ (1,611,635 ) ¥ 17,786,026 ¥ (17,773,852 ) ¥ — ¥ 12,174 Derivative financial instruments 11,666,371 (1,169,516 ) 10,496,855 (5,709,875 ) (1,122,754 ) 3,664,226 Total ¥ 31,064,032 ¥ (2,781,151 ) ¥ 28,282,881 ¥ (23,483,727 ) ¥ (1,122,754 ) ¥ 3,676,400 At March 31, 2022 Gross amounts Gross amounts (1) Net amounts Related amounts not offset in (2) Financial (3) Cash Net amounts (In millions) Financial assets (4) Reverse repurchase agreements and cash collateral on securities borrowed ¥ 12,930,691 ¥ (1,626,761 ) ¥ 11,303,930 ¥ (11,069,691 ) ¥ — ¥ 234,239 Derivative financial instruments 7,044,938 (601,190 ) 6,443,748 (3,672,254 ) (466,535 ) 2,304,959 Total ¥ 19,975,629 ¥ (2,227,951 ) ¥ 17,747,678 ¥ (14,741,945 ) ¥ (466,535 ) ¥ 2,539,198 Financial liabilities (4) Repurchase agreements and cash collateral on securities lent ¥ 21,739,923 ¥ (1,626,761 ) ¥ 20,113,162 ¥ (20,039,312 ) ¥ — ¥ 73,850 Derivative financial instruments 7,672,663 (706,327 ) 6,966,336 (3,508,571 ) (1,107,582 ) 2,350,183 Total ¥ 29,412,586 ¥ (2,333,088 ) ¥ 27,079,498 ¥ (23,547,883 ) ¥ (1,107,582 ) ¥ 2,424,033 (1) Amounts offset for derivative financial instruments include cash collateral. (2) The amounts of financial instruments and cash collateral have been limited to the net amounts presented in the consolidated statements of financial position so as not to include any over-collateralization. (3) Financial instruments include non-cash (4) Financial assets and liabilities include amounts that are both subject to and not subject to enforceable master netting arrangements or similar agreements. |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Maximum Exposure to Credit Risk before Collateral Held or Other Credit Enhancements | The following table shows the maximum exposure to credit risk before taking into account any collateral held or other credit enhancements at March 31, 2023 and 2022. At March 31, 2023 2022 (In millions) Credit risk exposures relating to assets on the consolidated statements of financial position: Deposits with banks ¥ 75,113,703 ¥ 74,780,886 Call loans and bills bought 5,684,812 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed 11,024,084 11,303,930 Trading assets 4,229,845 3,489,258 Derivative financial instruments 8,649,947 6,443,748 Financial assets at fair value through profit or loss 1,392,889 1,657,206 Investment securities: Debt instruments at amortized cost 235,567 83,954 Debt instruments at FVOCI 22,811,423 28,066,966 Loans and advances 111,891,134 104,635,815 Other financial assets 5,360,634 5,309,839 Credit risk exposures relating to off-balance (1) Loan commitments 79,068,816 73,246,384 Financial guarantees and other credit-related contingent liabilities 13,693,772 11,722,240 Total ¥ 339,156,626 ¥ 322,705,361 (1) The off-balance |
Financial Effect of Collateral and Other Credit Enhancements on Loans and Advances for Borrowers Requiring Caution and Impaired Loans and Advances | The following table shows the financial effect of collateral and other credit enhancements on impaired loans and advances at March 31, 2023 and 2022. The maximum collateral amounts included in the disclosure are limited to the carrying value of loans and advances where the credit exposure is over-collateralized. At March 31, 2023 2022 (In millions) Impaired loans and advances ¥ 1,170,662 ¥ 1,406,094 Financial effect of collateral and other credit enhancements 387,980 393,462 |
Loans and Advances by Geographical Sector | An analysis of concentrations of credit risk from loans and advances by geographical sector and industry sector at March 31, 2023 and 2022 is shown below. The concentration by geographical sector is measured based on the domicile of the borrower. Geographical sector At March 31, 2023 2022 (In millions) Domestic ¥ 67,690,579 ¥ 64,189,084 Foreign: Americas 18,168,277 15,220,380 Europe 9,070,221 8,486,389 Asia 13,185,870 13,095,814 Others 5,028,880 4,962,032 Total foreign 45,453,248 41,764,615 Gross loans and advances 113,143,827 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) (324,830 ) Less: Allowance for loan losses (864,114 ) (993,054 ) Carrying amount ¥ 111,891,134 ¥ 104,635,815 |
Loans and Advances by Industry Sector | Industry sector At March 31, 2023 2022 (In millions) Domestic: Manufacturing ¥ 10,654,680 ¥ 10,105,370 Agriculture, forestry, fisheries and mining 379,701 378,366 Construction 949,426 847,805 Transportation, communications and public enterprises 6,464,350 6,210,330 Wholesale and retail 6,143,314 5,903,439 Finance and insurance 3,901,580 3,549,762 Real estate and goods rental and leasing 15,604,512 14,314,582 Services 4,896,764 4,860,235 Municipalities 687,606 600,759 Lease financing 12,712 18,476 Consumer (1) 15,886,487 15,506,486 Others 2,109,447 1,893,474 Total domestic 67,690,579 64,189,084 Foreign: Public sector 291,238 440,236 Financial institutions 9,283,249 8,311,518 Commerce and industry 30,369,262 28,838,245 Lease financing 295,199 290,097 Others 5,214,300 3,884,519 Total foreign 45,453,248 41,764,615 Gross loans and advances 113,143,827 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) (324,830 ) Less: Allowance for loan losses (864,114 ) (993,054 ) Carrying amount ¥ 111,891,134 ¥ 104,635,815 (1) The balance in Consumer mainly consists of housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. |
Disaggregation of Structured Finance Loans and Advances | Structured finance: At March 31, 2023 2022 (In millions) Real estate finance ¥ 4,581,928 ¥ 3,689,571 Project finance 6,283,946 5,828,182 Other structured finance 509,334 497,444 Total structured finance ¥ 11,375,208 ¥ 10,015,197 |
Secured and Unsecured Consumer Loans | Consumer: At March 31, 2023 2022 (In millions) Secured loans (1) ¥ 11,386,978 ¥ 11,311,593 Unsecured loans 4,499,509 4,194,893 Total consumer ¥ 15,886,487 ¥ 15,506,486 (1) The secured loans and advances mainly represent housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. |
Summary of Loans and Advances at Amortized Cost | The following tables set forth information about the gross carrying amount of financial assets and the exposure to credit risk on loan commitments and financial guarantee contracts by stage allocation and internal rating grades of SMBC. Refer to Note 2 “Summary of Significant Accounting Policies” for information on stage allocation. Also refer to Note 46 “Financial Risk Management” for information on obligor grading system of SMBC. At March 31, 2023 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Normal J1-6 ¥ 47,453,523 ¥ 289,316 ¥ — ¥ 47,742,839 G1-6 34,975,850 1,177,231 — 36,153,081 Japanese government and local municipal corporations 2,981,570 — — 2,981,570 Other (1) 22,843,553 291,913 — 23,135,466 Requiring caution J7 — 838,655 — 838,655 G7 — 842,888 — 842,888 Other (1) — 278,666 — 278,666 Impaired (2) — — 1,170,662 1,170,662 Gross loans and advances 108,254,496 3,718,669 1,170,662 113,143,827 Adjust: Unearned income, unamortized premiums—net and deferred loan (388,579 ) Less: Allowance for loan losses (187,455 ) (240,494 ) (436,165 ) (864,114 ) Carrying amount ¥ 111,891,134 (1) The balance of “Other” includes housing loans, which amounted to ¥10,697,842 million and ¥16,624 million for the borrower category of Normal and Requiring Caution, respectively. (2) “Impaired” refers to loans and advances to borrowers with obligor grades not higher than 7R. At March 31, 2022 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost: Normal J1-6 ¥ 44,334,449 ¥ 378,857 ¥ — ¥ 44,713,306 G1-6 30,840,638 1,100,849 — 31,941,487 Japanese government and local municipal corporations 2,777,135 — — 2,777,135 Other (1) 22,894,567 93,025 — 22,987,592 Requiring caution J7 — 922,423 — 922,423 G7 — 987,573 — 987,573 Other (1) — 218,089 — 218,089 Impaired (2) — — 1,406,094 1,406,094 Gross loans and advances 100,846,789 3,700,816 1,406,094 105,953,699 Adjust: Unearned income, unamortized premiums—net and deferred loan (324,830 ) Less: Allowance for loan losses (162,919 ) (247,020 ) (583,115 ) (993,054 ) Carrying amount ¥ 104,635,815 (1) The balance of “Other” includes housing loans, which amounted to ¥10,575,167 million and ¥17,600 million for the borrower category of Normal and Requiring Caution, respectively. (2) “Impaired” refers to loans and advances to borrowers with obligor grades not higher than 7R. Modified loans and advances that were subject to lifetime ECL measurement million fiscal years ended March 31, 2023 and 2022, respectively. The net modification gain or loss is not material. At March 31, 2023 12-month Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loan commitments and financial guarantees (1) Gross carrying amount ¥ 43,212,638 ¥ 1,009,650 ¥ 68,585 ¥ 44,290,873 Allowance for off-balance 48,584 36,163 15,241 99,988 At March 31, 2022 12-month Lifetime ECL Lifetime ECL Total (In millions) Loan commitments and financial guarantees (1) Gross carrying amount ¥ 39,125,698 ¥ 874,122 ¥ 57,740 ¥ 40,057,560 Allowance for off-balance 34,473 41,756 12,034 88,263 (1) Loan commitments are the undrawn components of loan commitments on which ECL can be separately identified from those on the drawn components. Movements in ECL allowance The following tables show reconciliations from the opening balance to the closing balance of the ECL allowance by class of financial instrument. 12-month ECL Lifetime ECL Lifetime ECL credit-impaired Total (In millions) Loans and advances at amortized cost (1) Balance at April 1, 2021 ¥ 170,156 ¥ 255,909 ¥ 423,222 ¥ 849,287 Transfer to 12-month 8,140 (5,225 ) (2,915 ) — Transfer to lifetime ECL not credit-impaired (9,170 ) 13,747 (4,577 ) — Transfer to lifetime ECL credit-impaired (4,251 ) (55,867 ) 60,118 — Net transfers between stages (5,281 ) (47,345 ) 52,626 — Provision (credit) for loan losses (8,715 ) 29,062 248,713 269,060 Charge-offs — — 166,553 166,553 Recoveries — — 13,403 13,403 Net charge-offs — — 153,150 153,150 Others ( 2 6,759 9,394 11,704 27,857 Balance at March 31, 2022 162,919 247,020 583,115 993,054 Transfer to 12-month 2,300 (2,037 ) (263 ) — Transfer to lifetime ECL not credit-impaired (3,495 ) 6,485 (2,990 ) — Transfer to lifetime ECL credit-impaired (9,959 ) (14,605 ) 24,564 — Net transfers between stages (11,154 ) (10,157 ) 21,311 — Provision (credit) for loan losses 29,264 (5,591 ) 114,503 138,176 Charge-offs — — 310,284 310,284 Recoveries — — 16,948 16,948 Net charge-offs — — 293,336 293,336 Others ( 2 6,426 9,222 10,572 26,220 Balance at March 31, 2023 ¥ 187,455 ¥ 240,494 ¥ 436,165 ¥ 864,114 (1) “Loans and advances at amortized cost” includes allowance for undrawn components of loan commitments issued to retail customers which cannot be separately identified from that for the drawn components. (2) Others mainly include foreign exchange translations. For the fiscal year ended March 31, 2023, the ECL allowance decrease d million at March 31, 2022 million at March 31, 2023. 12-month Lifetime ECL not credit- Lifetime ECL credit-impaired Total (In millions) Loan commitments and financial guarantees (1) Balance at April 1, 2021 ¥ 33,034 ¥ 35,480 ¥ 7,181 ¥ 75,695 Net transfers between stages (816 ) 937 (121 ) — Provision for off-balance 605 5,339 4,974 10,918 Others 1,650 — — 1,650 Balance at March 31, 2022 34,473 41,756 12,034 88,263 Net transfers between stages 90 (1,054 ) 964 — Provision (credit) for off-balance 12,584 (4,539 ) 2,243 10,288 Others 1,437 — — 1,437 Balance at March 31, 2023 ¥ 48,584 ¥ 36,163 ¥ 15,241 ¥ 99,988 (1) ECL allowance for loan commitments is that for the undrawn components of loan commitments, which can be separately identified from that for the drawn components. |
Trading Assets and Investment Securities Based on External Rating System | The following tables show an analysis of trading assets, financial assets at fair value through profit or loss and debt instruments at amortized cost and at fair value through other comprehensive income based on the external rating system at March 31, 2023 and 2022, excluding instruments with equity features. Collateral is generally not obtained directly from the issuers. At March 31, 2023 Trading assets (1) Financial assets at (1) Debt instruments at amortized cost (1)(2) Debt instruments at (1)(2) (In millions) AAA ¥ 644,180 ¥ 6,000 ¥ — ¥ 10,034,033 AA- 3,147,681 31,296 165,593 11,992,005 A- 223,843 14,669 — 399,783 Lower than A- 126,281 85,739 68,995 984,062 Unrated 13,343 600 979 173,750 Total ¥ 4,155,328 ¥ 138,304 ¥ 235,567 ¥ 23,583,633 At March 31, 2022 Trading assets (1) Financial assets at (1) Debt instruments at amortized cost (1)(2) Debt instruments at (1)(2) (In millions) AAA ¥ 519,262 ¥ 7,999 ¥ — ¥ 8,634,719 AA- 2,437,286 36,147 25,741 18,225,704 A- 243,090 20,836 — 670,840 Lower than A- 195,008 89,955 57,646 863,446 Unrated 3,365 677 567 192,349 Total ¥ 3,398,011 ¥ 155,614 ¥ 83,954 ¥ 28,587,058 (1) The amounts represent fair value for trading assets and financial assets at fair value through profit or loss, whereas they represent the gross carrying amount for debt instruments at amortized cost and at fair value through other comprehensive income. (2) There were no debt instruments at amortized cost or debt instruments at fair value through other comprehensive income subject to lifetime ECL at March 31, 2023 and 2022. |
VaR by Risk Category | The following tables show the Group’s VaR by risk category and these figures are prepared based on the internal reporting provided to management. The Group’s material market risk exposure categories consist of interest rate risk, foreign exchange risk, equities and commodities risk and others. The section headed “VaR for Trading Activity” shows VaR for instruments entered into for trading purposes and the VaR model for the trading book includes principal consolidated subsidiaries. The section headed “VaR for Non-Trading Non-Trading (a) VaR for Trading Activity Interest Foreign Equities and Others Total (1) (In billions) For the fiscal year ended March 31, 2023: SMBC Consolidated Maximum ¥ 75.3 ¥ 73.7 ¥ 1.7 ¥ 9.5 ¥ 15.3 Minimum 12.8 11.9 0.2 4.8 10.5 Daily average 54.3 49.4 0.7 7.0 12.6 At March 31, 2023 27.9 22.6 0.2 5.7 11.6 SMFG Consolidated Maximum ¥ 84.4 ¥ 75.1 ¥ 7.6 ¥ 9.5 ¥ 31.8 Minimum 21.7 13.2 4.3 4.8 25.2 Daily average 63.5 50.8 6.1 7.0 28.4 At March 31, 2023 37.6 23.9 5.5 5.7 27.7 Interest Foreign Equities and Others Total (1) (In billions) For the fiscal year ended March 31, 2022: SMBC Consolidated Maximum ¥ 49.4 ¥ 41.9 ¥ 3.0 ¥ 8.6 ¥ 13.0 Minimum 5.1 7.9 0.2 3.4 6.1 Daily average 15.3 15.9 1.0 5.9 9.0 At March 31, 2022 49.1 41.9 0.2 6.9 10.2 SMFG Consolidated Maximum ¥ 59.9 ¥ 42.7 ¥ 9.4 ¥ 8.6 ¥ 31.1 Minimum 13.8 8.6 5.1 3.4 20.6 Daily average 25.0 17.2 6.8 5.9 25.5 At March 31, 2022 59.0 42.7 5.5 6.9 25.9 (1) Total for “Maximum,” “Minimum,” and “Daily average” represent the maximum, minimum and daily average of the total of the trading book. For certain subsidiaries, the Group employs the standardized method and/or the historical simulation method for the VaR calculation method. (b) VaR for Non-Trading (i) Banking Interest rate Foreign Equities and Others Total (1) (In billions) For the fiscal year ended March 31, 2023: SMBC Consolidated Maximum ¥ 67.3 ¥ 0.7 ¥ 18.3 ¥ 0.0 ¥ 73.4 Minimum 40.1 0.0 3.3 0.0 43.6 Daily average 53.6 0.2 8.6 0.0 57.1 At March 31, 2023 63.3 0.0 11.3 0.0 68.0 SMFG Consolidated Maximum ¥ 68.0 ¥ 0.7 ¥ 18.3 ¥ 0.0 ¥ 74.0 Minimum 41.2 0.0 3.3 0.0 44.7 Daily average 54.5 0.2 8.6 0.0 58.0 At March 31, 2023 64.7 0.0 11.3 0.0 69.4 Interest rate Foreign Equities and Others Total (1) (In billions) For the fiscal year ended March 31, 2022: SMBC Consolidated Maximum ¥ 60.1 ¥ 0.5 ¥ 25.5 ¥ 0.0 ¥ 63.5 Minimum 43.6 0.0 15.2 0.0 51.5 Daily average 51.7 0.3 21.0 0.0 58.4 At March 31, 2022 58.7 0.0 17.1 0.0 61.9 SMFG Consolidated Maximum ¥ 60.8 ¥ 0.5 ¥ 25.5 ¥ 0.0 ¥ 64.3 Minimum 44.1 0.0 15.2 0.0 52.0 Daily average 52.4 0.3 21.0 0.0 59.1 At March 31, 2022 59.4 0.0 17.1 0.0 62.6 (1) Total for “Maximum,” “Minimum,” and “Daily average” represent the maximum, minimum and daily average of the total of the banking book. (ii) Strategic Shareholding Investment Equities risk (In billions) For the fiscal year ended March 31, 2023: SMBC Consolidated Maximum ¥ 1,047.4 Minimum 879.5 Daily average 961.3 At March 31, 2023 1,003.2 SMFG Consolidated Maximum ¥ 1,241.1 Minimum 1,067.2 Daily average 1,163.0 At March 31, 2023 1,224.8 Equities risk (In billions) For the fiscal year ended March 31, 2022: SMBC Consolidated Maximum ¥ 1,199.8 Minimum 923.4 Daily average 1,079.3 At March 31, 2022 1,043.5 SMFG Consolidated Maximum ¥ 1,384.9 Minimum 1,086.9 Daily average 1,261.3 At March 31, 2022 1,226.4 |
Maturity Analysis of Contractual Undiscounted Cash Flows for Financial Liabilities | The following tables show a maturity analysis of the contractual undiscounted cash flows for financial liabilities at March 31, 2023 and 2022. The amount of interest on debt instruments is not included in the maturity tables below due to its insignificance. At March 31, 2023 On demand Not later than three months Later than Later than Later than Later than Total (In millions) Non-derivative Deposits ¥ 116,227,911 ¥ 38,303,894 ¥ 14,106,445 ¥ 2,733,806 ¥ 676,254 ¥ 892,141 ¥ 172,940,451 Call money and bills sold 16,663 2,518,257 31,805 2,331 — — 2,569,056 Repurchase agreements and cash collateral on securities lent 90,371 17,492,532 134,994 67,350 779 — 17,786,026 Trading liabilities 3,291,089 — — — — — 3,291,089 Financial liabilities designated at fair value through profit or loss — 28,772 51,658 73,688 83,030 228,642 465,790 Borrowings 231,603 907,174 1,827,402 7,606,743 2,535,474 1,862,586 14,970,982 Debt securities in issue — 2,338,572 1,321,930 2,992,801 2,659,646 3,252,632 12,565,581 Lease payable — 17,860 59,069 107,121 76,395 183,993 444,438 Other financial liabilities 3,221,035 5,199,330 97,469 — — 4,378 8,522,212 Off balance sheet items: Loan commitments 79,068,816 — — — — — 79,068,816 Financial guarantee contracts 13,693,772 — — — — — 13,693,772 Total non-derivative ¥ 215,841,260 ¥ 66,806,391 ¥ 17,630,772 ¥ 13,583,840 ¥ 6,031,578 ¥ 6,424,372 ¥ 326,318,213 Derivative financial instruments ¥ 9,909,806 ¥ — ¥ 8,216 ¥ 101,245 ¥ 147,303 ¥ 330,285 ¥ 10,496,855 At March 31, 2022 On demand Not later than Later than Later than Later than Later than Total (In millions) Non-derivative Deposits ¥ 109,504,226 ¥ 35,716,375 ¥ 13,658,588 ¥ 2,497,423 ¥ 633,386 ¥ 592,063 ¥ 162,602,061 Call money and bills sold 16,257 981,289 87,177 43,811 1,466 — 1,130,000 Repurchase agreements and cash collateral on securities lent 333,887 19,637,456 49,966 91,853 — — 20,113,162 Trading liabilities 3,181,992 — — — — — 3,181,992 Financial liabilities designated at fair value through profit or loss — 12,080 140,141 111,904 77,418 168,005 509,548 Borrowings 166,662 2,774,392 6,054,105 7,382,113 1,974,285 1,855,060 20,206,617 Debt securities in issue — 2,124,288 1,587,490 2,225,232 2,573,987 3,177,717 11,688,714 Lease payable — 18,127 57,941 104,913 76,421 143,672 401,074 Other financial liabilities 3,490,237 4,221,736 3,526 90,045 — 4,133 7,809,677 Off balance sheet items: Loan commitments 73,246,384 — — — — — 73,246,384 Financial guarantee contracts 11,722,240 — — — — — 11,722,240 Total non-derivative ¥ 201,661,885 ¥ 65,485,743 ¥ 21,638,934 ¥ 12,547,294 ¥ 5,336,963 ¥ 5,940,650 ¥ 312,611,469 Derivative financial instruments ¥ 6,717,823 ¥ — ¥ — ¥ 13,875 ¥ 77,746 ¥ 156,892 ¥ 6,966,336 Notes: 1. Embedded derivatives which are separately accounted for, but presented together with the host contract in the consolidated statements of financial position are not included in the contractual tables above as they relate to the interest cash flow of the host contract, which are also not included in the tables above. 2. Derivative financial instruments are recorded at fair value. Except for items designated as hedging instruments for fair value hedge, they are included in the column “On demand.” |
Balance of Loans and Advances and Deposits | The following table presents the balance of loans and advances, and deposits at March 31, 2023 and 2022. The balance of deposits at March 31, 2023 and 2022 exceeded the balance of loans and advances at the same time due to the stable deposit base in Japan. At March 31, 2023 2022 (In millions) Loans and advances ¥ 111,891,134 ¥ 104,635,815 Deposits 172,927,810 162,593,492 |
Deposits by Domestic and Foreign Offices | The following table presents a breakdown of deposits by domestic and foreign offices. Domestic inter-bank money is classified as “Call money and bills sold” and not included in “Deposits” in the consolidated statements of financial position. Domestic deposits are mainly composed of corporate and individual customer deposits. At March 31, 2023 2022 (In millions) Domestic offices: Non-interest-bearing ¥ 30,778,301 ¥ 28,633,073 Interest-bearing demand deposits 70,401,409 67,287,154 Deposits at notice 828,110 691,249 Time deposits 17,245,011 17,624,597 Negotiable certificates of deposit 4,470,206 5,059,074 Others 9,058,983 9,625,768 Total domestic offices 132,782,020 128,920,915 Foreign offices: Non-interest-bearing 2,771,762 2,334,805 Interest-bearing demand deposits 4,783,003 4,221,047 Deposits at notice 13,618,520 11,345,294 Time deposits 10,278,686 7,513,141 Negotiable certificates of deposit 8,555,350 8,010,723 Others 138,469 247,567 Total foreign offices 40,145,790 33,672,577 Total deposits ¥ 172,927,810 ¥ 162,593,492 |
Regulatory Capital Requirements | The table below presents the Group’s total capital ratio, total capital and risk-weighted assets under Japanese GAAP at March 31, 2023 and 2022 based on the Basel III rules. At March 31, 2023 2022 (In billions, except percentages) SMFG Consolidated: Total risk-weighted capital ratio 15.98 % 16.56 % Tier 1 risk-weighted capital ratio 14.94 % 15.46 % Common Equity Tier 1 risk-weighted capital ratio 14.02 % 14.45 % Total capital (Common Equity Tier 1 capital + Additional Tier 1 capital + Tier 2 capital) ¥ 12,350.8 ¥ 11,983.8 Tier 1 capital (Common Equity Tier 1 capital + Additional Tier 1 capital) 11,548.9 11,186.2 Common Equity Tier 1 capital 10,839.0 10,458.4 Risk-weighted assets 77,285.0 72,350.1 The amount of minimum total capital requirements (1) 6,182.8 5,788.0 (1) The amount of minimum total capital requirements is calculated by multiplying risk-weighted assets by 8%. |
Interest Rate Benchmark Reform
Interest Rate Benchmark Reform (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary Of Financial Instruments Yet To Be Transitioned To An Alternative Benchmark Rate | The following tables show quantitative information about financial instruments that have yet to be transitioned to an alternative benchmark rate at March 31, 2023 and 2022. At March 31, 2023 USD (1) Others (1) (2) (In billions) Carrying amount of non-derivative ¥ 9,568 ¥ — Carrying amount of non-derivative 1,351 — Derivative notional amounts 247,066 — At March 31, 2022 USD (1) Others (1) (2) (In billions) Carrying amount of non-derivative financial assets ¥ 13,330 ¥ 370 Carrying amount of non-derivative financial liabilities 1,344 — Derivative notional amounts 221,161 1,756 (1) The amounts in the table above are the aggregation of the amounts used for regulatory reporting of SMFG, SMBC, SMBC’s subsidiaries and SMBC Nikko Securities. (2) “Others” consists of JPY and GBP LIBOR contracts, most of which include contracts that will switch to using alternative reference rates at the next reset after March 31, 2023 and 2022. It also includes, to a limited extent, synthetic LIBOR contracts that the Group utilized as a temporary solution. |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [Line Items] | |
Compensation Expenses of Key Management Personnel | The following table presents the compensation expenses of key management personnel. For the fiscal year ended March 31, 2023 2022 2021 (In millions) Short-term employee benefits ¥ 1,537 ¥ 1,571 ¥ 1,506 Share-based compensation 461 457 383 |
Key management personnel of entity or parent [member] | |
Statement [Line Items] | |
Transaction Amounts with Related Party | At March 31, 2023 2022 (In millions) Assets: Loans and advances ¥ 44 ¥ — Liabilities: Deposits ¥ 2,865 ¥ 3,256 Others 129 59 |
Associates, joint ventures, and other entities [Member] | |
Statement [Line Items] | |
Transaction Amounts with Related Party | At March 31, 2023 2022 (In millions) Assets: Loans and advances ¥ 2,276,216 ¥ 2,060,472 Others 186,617 33,957 Liabilities: Deposits ¥ 290,452 ¥ 315,500 Others 56,801 36,406 For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income statements: Income (interest income, fee and commission income, and others) ¥ 87,521 ¥ 68,780 ¥ 55,409 Expense (interest expense and others) 43,473 25,046 34,811 |
Principal Subsidiaries (Tables)
Principal Subsidiaries (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Foreign [member] | |
Statement [Line Items] | |
Principal Subsidiaries | Principal foreign subsidiaries Company Name Country of Proportion of (1) Proposition (1) Main Business (%) (%) SMBC Bank International plc U.K. 100.0 100.0 Commercial banking Sumitomo Mitsui Banking Corporation China 100.0 100.0 Commercial banking PT Bank BTPN Tbk Indonesia 98.4 93.4 (2) Commercial banking SMBC Americas Holdings, Inc. U.S.A. 100.0 100.0 Bank holding company Manufacturers Bank U.S.A. 100.0 100.0 Commercial banking Banco Sumitomo Mitsui Brasileiro S.A Brazil 100.0 100.0 Commercial banking JSC Sumitomo Mitsui Rus Bank Russia 100.0 100.0 Commercial banking SMBC Bank EU AG Germany 100.0 100.0 Commercial banking Sumitomo Mitsui Banking Corporation Malaysia Berhad Malaysia 100.0 100.0 Commercial banking SMBC Leasing and Finance, Inc. U.S.A. 100.0 100.0 Leasing SMBC Nikko Securities America, Inc. U.S.A. 100.0 100.0 Securities SMBC Nikko Capital Markets Limited U.K. 100.0 100.0 Securities SMBC Capital Markets, Inc. U.S.A. 100.0 100.0 Derivatives TT International Asset Management Ltd U.K. 100.0 100.0 Investment management, and investment advisory and agency Fullerton India Credit Company Limited (3) India 74.9 74.9 Financial services (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. (2) During the fiscal year ended March 31, 2020, the Group disposed of 5.0% equity interest in PT Bank BTPN Tbk to a third party investor. The disposal was undertaken to ensure that PT Bank BTPN Tbk is compliant with the free float requirement under the Indonesia Stock Exchange’s Rule. The Group had also entered into a commercial arrangement where the economic exposure resulting from the disposal is being retained. Therefore, the disposal has not resulted in a decrease in the Group’s ownership interests. (3) Fullerton India Credit Company Limited changed its corporate name to SMFG India Credit Company Limited on May 11, 2023. |
Domestic [member] | |
Statement [Line Items] | |
Principal Subsidiaries | Principal domestic subsidiaries Company Name Proportion of (1) Proportion (1) Main Business (%) (%) Sumitomo Mitsui Banking Corporation 100.0 100.0 Commercial banking SMBC Trust Bank Ltd. 100.0 100.0 Trust banking SMBC Guarantee Co., Ltd. 100.0 100.0 Credit guarantee SMBC Nikko Securities Inc. 100.0 100.0 Securities Sumitomo Mitsui Card Company, Limited 100.0 100.0 Credit card SMBC Finance Service Co., Ltd. 100.0 100.0 Credit card, consumer credit and installment transaction SMBC Consumer Finance Co., Ltd. 100.0 100.0 Consumer lending SMBC Mobit Co., Ltd. 100.0 100.0 Consumer lending The Japan Research Institute, Limited 100.0 100.0 System development, data processing, management consulting and economic research Sumitomo Mitsui DS Asset Management Company, Limited 50.1 50.1 Investment management, and investment advisory and agency Alternative Investment Capital Limited 60.0 60.0 Investment management and investment advisory NCore Co., Ltd. 51.0 51.0 Data processing service and consulting SMBC Venture Capital Co., Ltd. 100.0 100.0 Venture capital SMBC Consulting Co., Ltd. 98.3 98.3 Management consulting and information services Japan Pension Navigator Co., Ltd. 69.7 69.7 Operational management of defined contribution pension plans (1) Percentages of proportion of ownership interest and proportion of voting rights have been truncated. |
Structured Entities (Tables)
Structured Entities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Interests in Unconsolidated Structured Entities and Maximum Exposure to Loss | The following tables represent the carrying amounts of the Group’s interests in unconsolidated structured entities recognized in its consolidated statements of financial position by line item and the maximum exposure to loss from its interests at March 31, 2023 and 2022. At March 31, 2023 Securitizations Investment Structured Others Total (In millions) Interests in unconsolidated structured entities recognized in: Trading assets ¥ 5,197 ¥ 44,432 ¥ — ¥ — ¥ 49,629 Financial assets at fair value through profit or loss 292 669,880 89,796 — 759,968 Investment securities 145,351 52,476 — 193 198,020 Loans and advances 3,581,390 — 8,629,262 612,876 12,823,528 Total ¥ 3,732,230 ¥ 766,788 ¥ 8,719,058 ¥ 613,069 ¥ 13,831,145 Maximum exposure to loss from interests in unconsolidated structured entities ¥ 5,245,346 ¥ 767,810 ¥ 10,073,000 ¥ 729,634 ¥ 16,815,790 At March 31, 2022 Securitizations Investment Structured Others Total (In millions) Interests in unconsolidated structured entities recognized in: Trading assets ¥ 11,149 ¥ 60,168 ¥ — ¥ — ¥ 71,317 Financial assets at fair value through profit or loss 274 976,983 98,671 — 1,075,928 Investment securities 136,521 49,693 — 194 186,408 Loans and advances 2,817,366 — 7,099,366 601,975 10,518,707 Total ¥ 2,965,310 ¥ 1,086,844 ¥ 7,198,037 ¥ 602,169 ¥ 11,852,360 Maximum exposure to loss from interests in unconsolidated structured entities ¥ 4,289,574 ¥ 1,087,993 ¥ 8,117,297 ¥ 751,194 ¥ 14,246,058 |
Acquisitions (Tables)
Acquisitions (Tables) - Fullerton India Credit Company Limited Member [Member] | 12 Months Ended |
Mar. 31, 2023 | |
Statement [Line Items] | |
Fair Values of Assets and Liabilities at the Date of Acquisition and Consideration Paid | The fair values of assets and liabilities of Fullerton India at the date of acquisition and the consideration paid were as follows: At November 30, 2021 (In millions) Assets: Cash and deposits with banks ¥ 37,495 Loans and advances 306,413 All other assets 58,612 Total assets ¥ 402,520 Liabilities: Borrowings ¥ 176,075 Debt securities in issue 135,445 All other liabilities 22,752 Total liabilities ¥ 334,272 Net assets 68,248 Non-controlling (17,130 ) Net assets acquired 51,118 Goodwill 179,197 Consideration ¥ 230,315 Consideration (1) : Cash ¥ 230,315 Total ¥ 230,315 Acquisition related costs recognized as an expense in “General and administrative expenses” in the consolidated income statement ¥ 2,093 (1) A contingent consideration is included in the contract, and payable upon a specific performance indicator of Fullerton India. As a result of estimating the indicator, the Group does not recognize the contingent consideration. |
Total Amount of Cash Consideration Paid and Cash Acquired by Obtaining Control of Subsidiaries and Businesses | The total amount of cash consideration paid and cash acquired by obtaining control of subsidiaries during the fiscal year ended March 31, 2022 were as follows: For the fiscal year ended (In millions) Cash consideration paid ¥ (230,315 ) Cash and cash equivalents transferred as a result of the acquisitions 14,621 Cash consideration paid, net of cash and cash equivalents acquired by obtaining control of the subsidiaries ¥ (215,694 ) |
Current and Non-current Disti_2
Current and Non-current Distinction (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Current and Non-Current Distinction | The following tables present an analysis of financial assets and liabilities, excluding cash and deposits with banks, trading assets and liabilities, and derivative financial instruments, by amounts recovered or settled, not more than twelve months or more than twelve months, at March 31, 2023 and 2022. At March 31, 2023 Amounts recovered or settled Not more than More than Total (In millions) Assets: Call loans and bills bought ¥ 5,569,961 ¥ 114,851 ¥ 5,684,812 Reverse repurchase agreements and cash collateral on securities borrowed 10,968,633 55,451 11,024,084 Financial assets at fair value through profit or loss 5,215 1,483,024 1,488,239 Investment securities: Debt instruments at amortized cost 49,631 185,936 235,567 Debt instruments at fair value through other comprehensive income 9,059,561 13,751,862 22,811,423 Equity instruments at fair value through other comprehensive income — 4,548,608 4,548,608 Loans and advances 39,254,388 72,636,746 111,891,134 Other financial assets 5,220,793 139,841 5,360,634 Liabilities: Deposits ¥ 168,635,510 ¥ 4,292,300 ¥ 172,927,810 Call money and bills sold 2,566,725 2,331 2,569,056 Repurchase agreements and cash collateral on securities lent 17,717,897 68,129 17,786,026 Financial liabilities designated at fair value through profit or loss 63,592 350,514 414,106 Borrowings 3,040,454 12,331,347 15,371,801 Debt securities in issue 3,651,276 8,333,718 11,984,994 Other financial liabilities 8,517,834 4,378 8,522,212 At March 31, 2022 Amounts recovered or settled Not more than More than Total (In millions) Assets: Call loans and bills bought ¥ 1,885,039 ¥ 80,096 ¥ 1,965,135 Reverse repurchase agreements and cash collateral on securities borrowed 11,265,507 38,423 11,303,930 Financial assets at fair value through profit or loss 4,589 1,690,996 1,695,585 Investment securities: Debt instruments at amortized cost 31,921 52,033 83,954 Debt instruments at fair value through other comprehensive income 10,533,166 17,533,800 28,066,966 Equity instruments at fair value through other comprehensive income — 4,598,485 4,598,485 Loans and advances 38,073,404 66,562,411 104,635,815 Other financial assets 5,009,619 300,220 5,309,839 Liabilities: Deposits ¥ 158,876,649 ¥ 3,716,843 ¥ 162,593,492 Call money and bills sold 1,084,723 45,277 1,130,000 Repurchase agreements and cash collateral on securities lent 20,021,309 91,853 20,113,162 Financial liabilities designated at fair value through profit or loss 117,783 337,951 455,734 Borrowings 9,069,845 11,514,806 20,584,651 Debt securities in issue 3,711,213 7,717,224 11,428,437 Other financial liabilities 7,715,499 94,178 7,809,677 |
Condensed Financial Informati_2
Condensed Financial Information of Registrant (SMFG) (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Condensed Statement of Financial Position | Condensed Statements of Financial Position At March 31, 2023 2022 (In millions) Assets: Deposits with SMBC ¥ 246,977 ¥ 319,147 Investments in SMBC 4,613,790 4,613,790 Loans to SMBC 9,796,649 9,069,425 Investments in other subsidiaries, associates and joint ventures 2,007,172 2,017,221 Other assets 293,522 209,656 Current tax assets 91,048 28,074 Total assets ¥ 17,049,158 ¥ 16,257,313 Liabilities and equity: Short-term borrowings from SMBC ¥ 1,487,650 ¥ 1,508,030 Long-term borrowings 355,265 308,976 Debt securities in issue due to other subsidiaries 14,889 7,301 Debt securities in issue 8,280,718 7,509,351 Other liabilities 67,757 67,735 Total liabilities 10,206,279 9,401,393 Shareholders’ equity 6,082,226 6,126,648 Other equity instruments holders’ equity 760,653 729,272 Total equity 6,842,879 6,855,920 Total equity and liabilities ¥ 17,049,158 ¥ 16,257,313 |
Condensed Income Statement | Condensed Income Statements For the fiscal year ended March 31, 2023 2022 2021 (In millions) Income: Interest income from SMBC ¥ 235,386 ¥ 184,206 ¥ 170,777 Dividends from SMBC 437,850 376,757 272,952 Dividends from other subsidiaries, associates and joint ventures 15,951 45,609 31,914 Fees and commission income from subsidiaries 12,421 9,439 7,777 Other income 1,956 1,109 794 Total income 703,564 617,120 484,214 Expense: Interest expense to SMBC 5,546 4,751 4,313 Interest expense to other subsidiaries 4,830 4,779 4,320 Interest expense 220,397 169,526 154,298 Operating and other expense 68,659 37,982 31,806 Total expense 299,432 217,038 194,737 Profit before tax 404,132 400,082 289,477 Income tax expense (8,348 ) (7,942 ) (5,710 ) Net profit ¥ 412,480 ¥ 408,024 ¥ 295,187 Profit attributable to: Shareholders 401,170 397,293 282,065 Other equity instruments holders 11,310 10,731 13,122 |
Condensed Statement of Cash Flows | Condensed Statements of Cash Flows For the fiscal year ended March 31, 2023 2022 2021 (In millions) Operating Activities: Profit before tax ¥ 404,132 ¥ 400,082 ¥ 289,477 Income taxes paid—net 387 (17,935 ) 79,396 Other operating activities—net 359,237 579,929 267,159 Net cash and cash equivalents provided by operating activities 763,756 962,076 636,032 Investing Activities: Loans provided to SMBC (727,223 ) (873,537 ) (750,713 ) Investments in subsidiaries (19,796 ) (233,576 ) (7,418 ) Investments in associates and joint ventures — (819 ) (52,849 ) Other investing activities—net (2,770 ) (5,953 ) (46,282 ) Net cash and cash equivalents used in investing activities (749,789 ) (1,113,885 ) (857,262 ) Financing Activities: Net increase (decrease) of short-term borrowings from SMBC (20,380 ) 230,000 50,000 Proceeds from issuance of long-term borrowings 61,042 86,390 10,625 Redemption of long-term borrowings (36,046 ) — — Proceeds from issuance of debt securities 1,191,048 969,480 921,603 Proceeds from issuance of other equity instruments 116,346 79,516 99,400 Redemption of debt securities (861,730 ) (831,880 ) (403,025 ) Redemption of other equity instruments (85,000 ) — (130,000 ) Dividends paid to shareholders (301,600 ) (274,058 ) (267,119 ) Coupons paid to other equity instruments holders (11,310 ) (10,731 ) (13,122 ) Purchases of treasury stock and proceeds from sales of treasury stock—net (138,507 ) 246 220 Net cash and cash equivalents provided by in) (86,137 ) 248,963 268,582 Net increase (decrease) of cash and cash equivalents (72,170 ) 97,154 47,352 Cash and cash equivalents at beginning of period 319,147 221,993 174,641 Cash and cash equivalents at end of period ¥ 246,977 ¥ 319,147 ¥ 221,993 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Summary Of Significant Accounting Policies [Line items] | |
Number of days for a financial asset to become past due for determining credit impairment | 90 days |
Bottom of range [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Percentage of interest in associate | 20% |
Bottom of range [member] | Customer-related intangible assets [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Other intangible assets useful lives | 5 years |
Bottom of range [member] | Buildings [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 7 years |
Bottom of range [member] | Right of use assets [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 1 year |
Bottom of range [member] | Assets For Rent And Others [Member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 2 years |
Bottom of range [member] | Software [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Other intangible assets useful lives | 5 years |
Top of range [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Percentage of interest in associate | 50% |
Top of range [member] | Customer-related intangible assets [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Other intangible assets useful lives | 20 years |
Top of range [member] | Buildings [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 50 years |
Top of range [member] | Right of use assets [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 28 years |
Top of range [member] | Assets For Rent And Others [Member] | |
Summary Of Significant Accounting Policies [Line items] | |
Property plant and equipment useful lives | 40 years |
Top of range [member] | Software [member] | |
Summary Of Significant Accounting Policies [Line items] | |
Other intangible assets useful lives | 10 years |
Critical Accounting Estimates_3
Critical Accounting Estimates and Judgments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Critical accounting estimates and judgments [line items] | |||
Impairment losses on goodwill | ¥ 126,151 | ¥ 0 | ¥ 42,398 |
Provision | 247,344 | 227,784 | |
Net assets of retirement benefits | 525,123 | 508,496 | |
Deferred tax assets | 65,810 | 58,981 | |
Net total of deferred tax liabilities | 250,120 | 200,299 | |
Allowance for loan losses | 864,114 | 993,054 | |
Impairment losses on other intangible assets | 9,368 | 55,816 | 448 |
Impairment losses on property, plant and equipment | 31,617 | 43,708 | 10,959 |
Credit risk exposure on borrowings | 339,156,626 | 322,705,361 | |
Russian Borrowers [member] | |||
Critical accounting estimates and judgments [line items] | |||
Allowance for loan losses | 80,812 | ||
Credit risk exposure on borrowings | 337,000 | ||
Russian Borrowers [member] | Foreign countries [member] | |||
Critical accounting estimates and judgments [line items] | |||
Allowance for loan losses | 27,120 | ||
Provision for interest repayment [member] | |||
Critical accounting estimates and judgments [line items] | |||
Provision | ¥ 128,234 | ¥ 135,123 | ¥ 141,201 |
Interest Rate Restriction Act [member] | Minimum [member] | |||
Critical accounting estimates and judgments [line items] | |||
Interest rates on loans | 15% | ||
Interest Rate Restriction Act [member] | Maximum [member] | |||
Critical accounting estimates and judgments [line items] | |||
Interest rates on loans | 20% | ||
Act regulating the receipt of contributions, receipt of deposits and interest rates [member] | Maximum [member] | |||
Critical accounting estimates and judgments [line items] | |||
Interest rates on loans | 29.20% |
Critical Accounting Estimates_4
Critical Accounting Estimates and Judgments - Summary of key factors of the macroeconomic scenarios on the economic conditions (Detail) - Scenario Forecast [member] | 12 Months Ended | |
Mar. 31, 2025 | Mar. 31, 2024 | |
Japanese GDP | ||
Disclosure of Detailed Information of key Factors of the Macroeconomic Scenarios Under The Base Scenario [Line Items] | ||
GDP growth rate | 2.30% | 3.40% |
Global GDP | ||
Disclosure of Detailed Information of key Factors of the Macroeconomic Scenarios Under The Base Scenario [Line Items] | ||
GDP growth rate | 3% | 2.80% |
Segment Analysis - Additional I
Segment Analysis - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 Segments | |
Disclosure of operating segments [abstract] | |
Number of main business segments | 4 |
Segment Analysis - Segmental Re
Segment Analysis - Segmental Results of Operations (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Consolidated gross profit | ¥ 3,170.2 | ¥ 2,945.5 | ¥ 2,806.2 |
General and administrative expenses | (1,949.2) | (1,821.1) | (1,747.1) |
Others | 55.4 | 28.5 | 24.9 |
Consolidated net business profit | 1,276.4 | 1,152.9 | 1,084 |
Operating segments [member] | Wholesale Business Unit [member] | |||
Disclosure of operating segments [line items] | |||
Consolidated gross profit | 773.7 | 707.5 | 634.9 |
General and administrative expenses | (293.3) | (303.6) | (299.9) |
Others | 78.1 | 65.8 | 53.5 |
Consolidated net business profit | 558.5 | 469.7 | 388.5 |
Operating segments [member] | Retail Business Unit [member] | |||
Disclosure of operating segments [line items] | |||
Consolidated gross profit | 1,150.2 | 1,146.9 | 1,127.4 |
General and administrative expenses | (933.3) | (935.5) | (910.4) |
Others | 4.7 | 3.5 | 2.2 |
Consolidated net business profit | 221.6 | 214.9 | 219.2 |
Operating segments [member] | Global Business Unit [member] | |||
Disclosure of operating segments [line items] | |||
Consolidated gross profit | 1,205.2 | 872 | 723.7 |
General and administrative expenses | (637.9) | (461.3) | (383.3) |
Others | 44.9 | 20.5 | 26.3 |
Consolidated net business profit | 612.2 | 431.2 | 366.7 |
Operating segments [member] | Global Markets Business Unit [member] | |||
Disclosure of operating segments [line items] | |||
Consolidated gross profit | 457.8 | 390.6 | 460.7 |
General and administrative expenses | (112.5) | (92.3) | (82.9) |
Others | 28.9 | 39.8 | 35.7 |
Consolidated net business profit | 374.2 | 338.1 | 413.5 |
Head office account and others [member] | |||
Disclosure of operating segments [line items] | |||
Consolidated gross profit | (416.7) | (171.5) | (140.5) |
General and administrative expenses | 27.8 | (28.4) | (70.6) |
Others | (101.2) | (101.1) | (92.8) |
Consolidated net business profit | ¥ (490.1) | ¥ (301) | ¥ (303.9) |
Segment Analysis - Reconciliati
Segment Analysis - Reconciliation of Segmental Results of Operations to Consolidated Income Statements (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Consolidated net business profit | ¥ 1,276,400 | ¥ 1,152,900 | ¥ 1,084,000 |
Others | 55,400 | 28,500 | 24,900 |
Profit before tax | 1,261,876 | 676,464 | 956,478 |
Reconciling management reporting under Japanese GAAP to IFRS [member] | |||
Disclosure of operating segments [line items] | |||
Total credit costs | (210,200) | (274,400) | (360,500) |
Gains on equity instruments | 155,900 | 209,100 | 92,600 |
Extraordinary gains or losses and others | (123,600) | (158,000) | (143,900) |
Profit before tax under Japanese GAAP | 1,098,500 | 929,600 | 672,200 |
Scope of consolidation | 4,900 | 3,000 | 5,700 |
Derivative financial instruments | 374,000 | 136,900 | 94,800 |
Investment securities | (147,000) | (189,200) | 113,300 |
Loans and advances | 13,600 | (54,400) | 60,900 |
Investments in associates and joint ventures | (10,600) | (61,500) | 3,400 |
Property, plant and equipment | 1,600 | 9,000 | (2,500) |
Lease accounting | (500) | (900) | 1,000 |
Defined benefit plans | (60,700) | (67,000) | |
Foreign currency translation | 6,600 | (40,700) | (20,200) |
Classification of equity and liability | 11,300 | 10,900 | 12,500 |
Others | ¥ (29,800) | ¥ 800 | ¥ 15,400 |
Segment Analysis - Operating In
Segment Analysis - Operating Income by Geographical Area (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of geographical areas [Line Items] | |||
Total operating income | ¥ 3,790,676 | ¥ 3,137,460 | ¥ 3,165,585 |
Japan [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | 1,778,161 | 1,805,619 | 2,077,833 |
Domestic [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | 1,778,161 | 1,805,619 | 2,077,833 |
Americas [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | 829,948 | 592,009 | 448,998 |
Europe and Middle East [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | 356,222 | 280,930 | 246,218 |
Asia and Oceania [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | 826,345 | 458,902 | 392,536 |
Foreign [member] | |||
Disclosure of geographical areas [Line Items] | |||
Total operating income | ¥ 2,012,515 | ¥ 1,331,841 | ¥ 1,087,752 |
Cash and Deposits with Banks -
Cash and Deposits with Banks - Summary of Cash and Deposits with Banks (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Cash [abstract] | |||
Cash | ¥ 1,351,808 | ¥ 916,635 | |
Deposits with banks | 75,113,703 | 74,780,886 | |
Total cash and deposits with banks | ¥ 76,465,511 | ¥ 75,697,521 | ¥ 73,090,816 |
Cash and Deposits with Banks _2
Cash and Deposits with Banks - Reconciliation of Cash and Cash Equivalents Used for the Purposes of the Consolidated Statement of Cash Flows (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Cash and deposits with banks | ¥ 76,465,511 | ¥ 75,697,521 | ¥ 73,090,816 | |
Less: term deposits with original maturities over three months | (444,741) | (511,148) | (675,185) | |
Less: cash segregated as deposits and others | (676,535) | (842,420) | (866,934) | |
Cash and cash equivalents | ¥ 75,344,235 | ¥ 74,343,953 | ¥ 71,548,697 | ¥ 61,203,541 |
Cash and Deposits with Banks _3
Cash and Deposits with Banks - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Cash and cash equivalents [abstract] | |||
Reserves funds required to be maintained by the SMBC Group | ¥ 2,102,543 | ¥ 1,948,949 | ¥ 1,875,857 |
Trading Assets - Summary of Tra
Trading Assets - Summary of Trading Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial assets [line items] | ||
Total trading assets | ¥ 4,585,915 | ¥ 3,736,296 |
Debt instruments [member] | ||
Disclosure of financial assets [line items] | ||
Total trading assets | 4,229,845 | 3,489,258 |
Equity instruments [member] | ||
Disclosure of financial assets [line items] | ||
Total trading assets | ¥ 356,070 | ¥ 247,038 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedge Accounting - Derivative Financial Instruments by Type and Purpose of Derivatives (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | ¥ 8,649,947 | ¥ 6,443,748 |
Liabilities | 10,496,855 | 6,966,336 |
Trading [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 1,916,986,563 | 1,615,938,636 |
Assets | 7,682,264 | 5,800,033 |
Liabilities | 8,087,582 | 5,394,678 |
Trading [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 1,691,197,124 | 1,429,411,628 |
Assets | 5,025,797 | 3,016,258 |
Liabilities | 6,380,627 | 3,189,943 |
Trading [member] | Interest rate derivatives [member] | Futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 129,630,431 | 150,781,509 |
Assets | 37,084 | 118,492 |
Liabilities | 36,633 | 119,133 |
Trading [member] | Interest rate derivatives [member] | Listed options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 262,156,548 | 450,609,244 |
Assets | 87,651 | 493,433 |
Liabilities | 52,918 | 99,058 |
Trading [member] | Interest rate derivatives [member] | Forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 24,354,115 | 12,650,288 |
Assets | 30,619 | 1,447 |
Liabilities | 24,358 | 84 |
Trading [member] | Interest rate derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 1,036,174,625 | 659,925,813 |
Assets | 4,059,518 | 2,062,478 |
Liabilities | 4,100,097 | 2,096,930 |
Trading [member] | Interest rate derivatives [member] | OTC options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 238,881,405 | 155,444,774 |
Assets | 810,925 | 340,408 |
Liabilities | 2,166,621 | 874,738 |
Trading [member] | Currency derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 220,393,641 | 180,733,207 |
Assets | 2,571,317 | 2,637,955 |
Liabilities | 1,629,519 | 2,000,625 |
Trading [member] | Currency derivatives [member] | Futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 1,114 | 10,759 |
Assets | 145 | 101 |
Liabilities | 204 | |
Trading [member] | Currency derivatives [member] | Forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 115,616,503 | 84,081,833 |
Assets | 1,113,495 | 1,259,714 |
Liabilities | 1,107,415 | 1,132,187 |
Trading [member] | Currency derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 93,961,952 | 86,177,897 |
Assets | 1,282,512 | 1,258,400 |
Liabilities | 352,236 | 727,106 |
Trading [member] | Currency derivatives [member] | OTC options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 10,814,072 | 10,462,718 |
Assets | 175,165 | 119,740 |
Liabilities | 169,868 | 141,128 |
Trading [member] | Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 2,372,833 | 2,801,005 |
Assets | 54,508 | 102,313 |
Liabilities | 42,208 | 157,086 |
Trading [member] | Equity derivatives [member] | Futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 1,369,369 | 1,231,058 |
Assets | 11,259 | 39,764 |
Liabilities | 16,491 | 62,024 |
Trading [member] | Equity derivatives [member] | Listed options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 565,733 | 1,252,615 |
Assets | 9,312 | 35,056 |
Liabilities | 17,713 | 82,997 |
Trading [member] | Equity derivatives [member] | Forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 146,369 | |
Assets | 12,567 | |
Liabilities | 2 | |
Trading [member] | Equity derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 39,235 | 56,448 |
Assets | 433 | 542 |
Liabilities | 2,554 | 4,859 |
Trading [member] | Equity derivatives [member] | OTC options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 252,127 | 260,884 |
Assets | 20,937 | 26,951 |
Liabilities | 5,448 | 7,206 |
Trading [member] | Commodity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 129,488 | 153,247 |
Assets | 9,142 | 21,540 |
Liabilities | 7,946 | 19,544 |
Trading [member] | Commodity derivatives [member] | Futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 25,427 | 11,186 |
Assets | 407 | 1,413 |
Liabilities | 1,247 | 202 |
Trading [member] | Commodity derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 73,010 | 138,270 |
Assets | 8,567 | 20,033 |
Liabilities | 6,331 | 18,815 |
Trading [member] | Commodity derivatives [member] | OTC options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 31,051 | 3,791 |
Assets | 168 | 94 |
Liabilities | 368 | 527 |
Trading [member] | Credit derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 2,893,477 | 2,839,549 |
Assets | 21,500 | 21,967 |
Liabilities | 27,282 | 27,480 |
Risk management [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 86,603,721 | 70,769,944 |
Assets | 967,683 | 643,715 |
Liabilities | 2,409,273 | 1,571,658 |
Risk management [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 65,003,591 | 56,750,246 |
Assets | 763,819 | 577,685 |
Liabilities | 1,032,506 | 582,721 |
Risk management [member] | Interest rate derivatives [member] | Futures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 8,746,711 | 774,857 |
Assets | 5,990 | 321 |
Liabilities | 2,836 | 2 |
Risk management [member] | Interest rate derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 56,071,259 | 55,805,239 |
Assets | 757,829 | 577,364 |
Liabilities | 1,008,337 | 579,505 |
Risk management [member] | Interest rate derivatives [member] | OTC options [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 185,621 | 170,150 |
Liabilities | 21,333 | 3,214 |
Risk management [member] | Currency derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 21,600,130 | 13,999,978 |
Assets | 203,864 | 66,030 |
Liabilities | 1,376,767 | 986,906 |
Risk management [member] | Currency derivatives [member] | Forwards [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 7,430,656 | 2,836,806 |
Assets | 71,072 | 29,947 |
Liabilities | 184,808 | 267,923 |
Risk management [member] | Currency derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 14,169,474 | 11,163,172 |
Assets | 132,792 | 36,083 |
Liabilities | ¥ 1,191,959 | 718,983 |
Risk management [member] | Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 19,720 | |
Liabilities | 2,031 | |
Risk management [member] | Equity derivatives [member] | Swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 19,720 | |
Liabilities | ¥ 2,031 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedge Accounting - Schedule of Items Designated as Hedging Instruments (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest rate risk [Member] | Interest rate swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | ¥ 8,264,813 | ¥ 8,117,678 |
Carrying amounts, Assets | 101,835 | 110,604 |
Carrying amounts, Liabilities | 587,049 | 246,482 |
Change in value used for calculating hedge ineffectiveness | (290,527) | (209,287) |
Interest rate risk [Member] | Interest rate option [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 185,621 | 170,150 |
Carrying amounts, Liabilities | 21,333 | 3,214 |
Change in value used for calculating hedge ineffectiveness | (16,769) | (9,551) |
Interest rate risk [Member] | Debt instruments [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 391,708 | 294,332 |
Carrying amounts | 6,928,872 | 6,569,461 |
Interest rate risk [Member] | Borrowings [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 10,702 | 6,842 |
Carrying amounts | 128,778 | 106,489 |
Stock price risk [Member] | Equity swaps [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 19,720 | |
Carrying amounts, Liabilities | 2,031 | |
Change in value used for calculating hedge ineffectiveness | 3,174 | 5,191 |
Stock price risk [Member] | Investments at fair value through other comprehensive income [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | (3,199) | (5,313) |
Carrying amounts | 21,355 | |
Investment securities [Member] | Interest rate risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | (90,536) | (82,016) |
Carrying amounts | ¥ 707,845 | ¥ 1,256,768 |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedge Accounting - Schedule of Items Designated as Hedging Instruments (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest rate risk [Member] | Interest Rate Swaps [Member] | Maturities more than 12 months [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Notional amount | ¥ 7,641,814 | ¥ 7,355,644 |
Stock price risk [Member] | Equity swaps [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Notional amount | 19,720 | |
Stock price risk [Member] | Equity swaps [member] | Maturities more than 12 months [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Notional amount | ¥ 19,720 | |
Derivative Financial Instruments-Net [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Maturity Period of Hedging Instrument | more than 12 months | more than 12 months |
Derivative Financial Instruments-Net [Member] | Interest Rate Swaps [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Notional amount | ¥ 8,264,813 | ¥ 8,117,678 |
Derivative Financial Instruments-Net [Member] | Interest rate risk [Member] | Interest Rate Swaps [Member] | Maturities more than 12 months [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Notional amount | ¥ 185,621 | ¥ 170,150 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedge Accounting - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 JPY (¥) | Mar. 31, 2022 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Accumulated amount of fair value hedge adjustments on the hedged items | ¥ 89,440 | ¥ 83,788 | ||||
Hedging instrument [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Gain (loss) on hedge ineffectiveness | $ | $ 0 | $ 0 | ||||
Hedging instrument [member] | Interest rate benchmark reform [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Notional amount | 4,716,476 | 5,669,889 | ||||
Hedges of net investment in foreign operations [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Translating foreign operations reserve, balance remaining | 37,927 | 37,927 | ||||
Changes in translating foreign operations reserve | 208,446 | 203,339 | ||||
Fair value hedges [Member] | Interest rate risk [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Accumulated amount of fair value hedge adjustments on the hedged items | 591,904 | 265,701 | ||||
Accumulated amounts of fair value hedge adjustments remaining for any hedged items ceased to be adjusted for hedging gains and losses | $ | $ 0 | $ 0 | ||||
Gain (loss) on hedge ineffectiveness recognised in profit or loss | 4,578 | 320 | ||||
Fair value hedges [Member] | Stock price risk [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Accumulated amount of fair value hedge adjustments on the hedged items | 14,821 | |||||
Accumulated amounts of fair value hedge adjustments remaining for any hedged items ceased to be adjusted for hedging gains and losses | $ | $ 0 | $ 0 | ||||
Gain (loss) on hedge ineffectiveness recognized in other comprehensive income | ¥ (25) | ¥ (122) |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedge Accounting - Schedule of Hedges of Net Investments in Foreign Operations (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Foreign exchange forward contracts [member] | Derivative Financial Instruments-Net [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | ¥ 3,088,524 | ¥ 2,783,215 |
Carrying amounts, Assets | 48,483 | 29,947 |
Carrying amounts, Liabilities | 147,366 | 266,699 |
Change in value used for calculating hedge ineffectiveness | (195,012) | (191,493) |
Foreign currency denominated financial liabilities [member] | Debt securities, borrowed money, deposits [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amounts | 287,072 | 129,090 |
Carrying amounts, Assets | 0 | |
Carrying amounts, Liabilities | 287,072 | 129,090 |
Change in value used for calculating hedge ineffectiveness | ¥ (13,434) | ¥ (11,846) |
Derivative Financial Instrume_8
Derivative Financial Instruments and Hedge Accounting - Schedule of Items Designated as Hedged Items (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | ¥ 208,446 | ¥ 203,339 |
Translating foreign operations reserve | 494,116 | 285,670 |
USD foreign operations [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 98,413 | 105,164 |
Translating foreign operations reserve | 206,338 | 107,924 |
EUR foreign operations [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 72,926 | 56,049 |
Translating foreign operations reserve | 167,474 | 94,548 |
THB Foreign Operations [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 22,204 | 14,481 |
Translating foreign operations reserve | 57,077 | 34,874 |
Other foreign operations [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in value used for calculating hedge ineffectiveness | 14,903 | 27,645 |
Translating foreign operations reserve | ¥ 63,227 | ¥ 48,324 |
Derivative Financial Instrume_9
Derivative Financial Instruments and Hedge Accounting - Schedule of Timing of Nominal Amount of Hedging Instruments (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | ¥ 8,649,947 | ¥ 6,443,748 |
Liabilities | 10,496,855 | 6,966,336 |
Trading [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,916,986,563 | 1,615,938,636 |
Assets | 7,682,264 | 5,800,033 |
Liabilities | 8,087,582 | 5,394,678 |
Trading [member] | Credit derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,893,477 | 2,839,549 |
Assets | 21,500 | 21,967 |
Liabilities | 27,282 | 27,480 |
Trading [member] | Credit derivatives [member] | Protection purchased [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,539,516 | 1,549,764 |
Assets | 4,989 | 2,369 |
Liabilities | 16,645 | 22,547 |
Trading [member] | Credit derivatives [member] | Protection purchased [member] | Managing the SMBC Group's credit risk portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,502,814 | 1,508,262 |
Assets | 4,738 | 2,133 |
Liabilities | 16,442 | 21,975 |
Trading [member] | Credit derivatives [member] | Protection purchased [member] | Facilitating client transactions [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 36,702 | 41,502 |
Assets | 251 | 236 |
Liabilities | 203 | 572 |
Trading [member] | Credit derivatives [member] | Protection sold [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,353,961 | 1,289,785 |
Assets | 16,511 | 19,598 |
Liabilities | 10,637 | 4,933 |
Trading [member] | Credit derivatives [member] | Protection sold [member] | Managing the SMBC Group's credit risk portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,347,591 | 1,282,915 |
Assets | 16,456 | 19,489 |
Liabilities | 10,542 | 4,925 |
Trading [member] | Credit derivatives [member] | Protection sold [member] | Facilitating client transactions [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 6,370 | 6,870 |
Assets | 55 | 109 |
Liabilities | ¥ 95 | ¥ 8 |
Derivative Financial Instrum_10
Derivative Financial Instruments and Hedge Accounting - Notional Amounts and Fair Value of Credit Derivative Portfolio by Type of Counter Party (Detail) - Trading [member] - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | ¥ 1,916,986,563 | ¥ 1,615,938,636 |
Credit derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 2,893,477 | 2,839,549 |
Credit derivatives [member] | Protection purchased [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,539,516 | 1,549,764 |
Credit derivatives [member] | Protection purchased [member] | Banks and broker dealers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,539,516 | 1,549,764 |
Credit derivatives [member] | Protection sold [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,353,961 | 1,289,785 |
Credit derivatives [member] | Protection sold [member] | Banks and broker dealers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | ¥ 1,353,961 | ¥ 1,289,785 |
Financial Assets at Fair Valu_3
Financial Assets at Fair Value through Profit or Loss - Summary of Financial Assets at Fair Value through Profit or Loss (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss | ¥ 1,488,239 | ¥ 1,695,585 |
Debt instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss | 1,392,889 | 1,657,206 |
Equity instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss | ¥ 95,350 | ¥ 38,379 |
Investment Securities - Summary
Investment Securities - Summary of Investment Securities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | ¥ 235,567 | ¥ 83,954 | |
Equity instruments at fair value through other comprehensive income | 4,548,608 | 4,598,485 | |
Debt instruments at fair value through other comprehensive income | 22,811,423 | 28,066,966 | |
Total investment securities | 27,595,598 | 32,749,405 | |
Domestic [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 165,593 | 25,741 | |
Debt instruments at fair value through other comprehensive income | 11,610,961 | 17,868,996 | |
Domestic [member] | Japanese government bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 72,549 | ||
Domestic [member] | Japanese municipal bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 93,044 | 25,741 | |
Domestic [member] | Debt instruments [member] | Japanese government bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 9,576,298 | 15,774,197 | |
Domestic [member] | Debt instruments [member] | Japanese municipal bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 1,087,625 | 1,145,496 | |
Domestic [member] | Debt instruments [member] | Japanese corporate bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 946,726 | 948,992 | |
Domestic [member] | Debt instruments [member] | Other debt instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 312 | 311 | |
Foreign [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 69,974 | 58,213 | |
Debt instruments at fair value through other comprehensive income | 11,200,462 | 10,197,970 | |
Foreign [member] | Bonds issued by other governments and official institutions [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 68,121 | 56,400 | |
Foreign [member] | Other debt instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at amortized cost | 1,853 | 1,813 | |
Foreign [member] | Debt instruments [member] | U.S. Treasury and other U.S. government agency bonds [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 5,232,456 | 5,681,789 | |
Foreign [member] | Debt instruments [member] | Bonds issued by other governments and official institutions [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | [1] | 2,991,272 | 2,997,588 |
Foreign [member] | Debt instruments [member] | Mortgage- backed securities [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 2,379,250 | 1,006,051 | |
Foreign [member] | Debt instruments [member] | Other debt instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Debt instruments at fair value through other comprehensive income | 597,484 | 512,542 | |
Domestic equity instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Equity instruments at fair value through other comprehensive income | 3,587,964 | 3,658,591 | |
Foreign equity instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Equity instruments at fair value through other comprehensive income | ¥ 960,644 | ¥ 939,894 | |
[1]Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agencies. |
Investment Securities - Schedul
Investment Securities - Schedule of Equity Instruments at Fair Value through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | ¥ 4,548,608 | ¥ 4,598,485 |
Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 3,581,167 | 3,659,168 |
Unlisted [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | ¥ 967,441 | ¥ 939,317 |
Investment Securities - Sched_2
Investment Securities - Schedule of Investments in Listed Equity Instruments at Fair Value through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | ¥ 4,548,608 | ¥ 4,598,485 |
Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 3,581,167 | 3,659,168 |
TOYOTA MOTOR CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 365,984 | 432,660 |
DAIKIN INDUSTRIES, LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 201,068 | 201,690 |
Ares Management Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 187,804 | 167,592 |
KUBOTA CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 71,976 | 82,922 |
Kotak Mahindra Bank Limited [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 92,645 | 93,193 |
MITSUI & CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 52,823 | 85,420 |
ESR Cayman Limited [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 78,076 | |
FUJIFILM Holdings Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 55,448 | 70,355 |
ITOCHU Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 62,509 | 60,227 |
NIDEC CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 41,515 | 59,122 |
SG HOLDINGS CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 40,670 | 58,262 |
Seven & i Holdings Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 58,755 | 57,162 |
Murata Manufacturing Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 54,886 | 55,412 |
DAIWA HOUSE INDUSTRY CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 45,170 | 51,591 |
East Japan Railway Company [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 50,208 | 48,668 |
Sumitomo Realty & Development Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 35,104 | 46,640 |
DAIICHI SANKYO COMPANY, LIMITED [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 66,048 | 45,885 |
BRIDGESTONE CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 48,303 | 42,822 |
Jefferies Financial Group Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 44,505 | 42,222 |
Central Japan Railway Company [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 41,150 | 41,554 |
Asahi Group Holdings, Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 39,530 | 35,813 |
Shionogi & Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 27,466 | 34,603 |
Mitsui Fudosan Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 29,179 | 34,015 |
GMO Payment Gateway, Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 28,468 | 31,470 |
DAIFUKU CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 22,429 | 31,384 |
Mitsui O.S.K. Lines, Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 29,790 | 30,780 |
NIPPON STEEL CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 40,836 | 28,415 |
SHIMANO INC. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 22,840 | 28,155 |
Japan Exchange Group, Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 24,807 | 28,095 |
MINEBEA MITSUMI Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 25,671 | 27,542 |
KOITO MANUFACTURING CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 27,213 | 27,077 |
ASAHI KASEI CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 23,533 | 26,993 |
TAISHO PHARMACEUTICAL HOLDINGS CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 22,240 | 22,885 |
Makita Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 19,026 | 22,825 |
West Japan Railway Company [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 24,447 | 22,808 |
TOYOTA TSUSHO CORPORATION [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 23,883 | 21,503 |
Oji Holdings Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 16,594 | 19,223 |
Stanley Electric Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 23,499 | 18,633 |
Sumitomo Metal Mining Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 15,148 | 18,491 |
OMRON Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 16,881 | 17,991 |
Idemitsu Kosan Co., Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 17,357 | |
ASICS Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 25,548 | 16,174 |
BANDAI NAMCO Holdings Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 15,514 | |
TORAY INDUSTRIES, INC. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 18,170 | 15,345 |
Block, Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 15,071 | |
Tokyo Electric Power Company Holdings, Incorporated [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 16,994 | 14,479 |
Sekisui House, Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 16,265 | 14,294 |
Chubu Electric Power Company, Incorporated [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 15,680 | 14,155 |
IBIDEN CO., LTD. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 13,966 | |
CME Group Inc. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 13,738 | |
Nissin Foods Holdings Co.,Ltd. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 12,821 | |
Sanwa Holdings Corporation [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 15,629 | |
KAJIMA CORPORATION. [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 13,733 | |
Others [member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 1,182,148 | ¥ 1,158,899 |
ESR Group Limited [Member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 49,130 | |
Sanrio Company, Ltd [Member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | 24,150 | |
SBI Holdings, Inc. [Member] | Listed [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Equity instruments at fair value through other comprehensive income | ¥ 70,848 |
Investment Securities - Sched_3
Investment Securities - Schedule of Fair Value of Equity Instruments Measured at Fair Value through Other Comprehensive Income at Date of Derecoginititon And Cumulative Gain on Disposal (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Fair value of the equity instruments at fair value through other comprehensive income at the date of derecognition | ¥ 205,216 | ¥ 298,397 |
Cumulative gain on disposal | ¥ 142,305 | ¥ 139,675 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Transfer to retained earnings from disposal of equity instruments at fair value through other reserves | ¥ 112,235 | ¥ 89,905 |
Loans and Advances - Summary of
Loans and Advances - Summary of Loans and Advances (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances at amortized | ¥ 111,891,134 | ¥ 104,635,815 |
Adjust: Unearned income, unamortized premiums-net and deferred loan fees-net | (388,579) | (324,830) |
Less: Allowance for loan losses | (864,114) | (993,054) |
Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances at amortized | 113,143,827 | 105,953,699 |
Allowance for loan losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Less: Allowance for loan losses | (864,114) | (993,054) |
12-month ECL [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances at amortized | 108,254,496 | 100,846,789 |
12-month ECL [member] | Allowance for loan losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Less: Allowance for loan losses | (187,455) | (162,919) |
Lifetime ECL not credit-impaired [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances at amortized | 3,718,669 | 3,700,816 |
Lifetime ECL not credit-impaired [member] | Allowance for loan losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Less: Allowance for loan losses | (240,494) | (247,020) |
Lifetime ECL credit-impaired [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances at amortized | 1,170,662 | 1,406,094 |
Lifetime ECL credit-impaired [member] | Allowance for loan losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Less: Allowance for loan losses | ¥ (436,165) | ¥ (583,115) |
Investments in Associates and_3
Investments in Associates and Joint Ventures - Summary of Investments in Associates and Joint Ventures (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Sumitomo Mitsui Finance and Leasing Company, Limited [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Joint Venture, Country of Incorporation | Japan |
Principal Joint Venture, Proportion of Ownership Interest | 50% |
Principal Joint Venture, Proportion of Voting Rights | 50% |
Principal Joint Venture, Main Business | Leasing |
PayPay Bank Corporation [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 46.50% |
Principal Associates, Proportion of Voting Rights | 46.50% |
Principal Associates, Main Business | Internet banking |
The Bank of East Asia, Limited [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | China |
Principal Associates, Proportion of Ownership Interest | 21.40% |
Principal Associates, Proportion of Voting Rights | 21.40% |
Principal Associates, Main Business | Commercial banking |
ACLEDA Bank Plc. [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Cambodia |
Principal Associates, Proportion of Ownership Interest | 18% |
Principal Associates, Proportion of Voting Rights | 18% |
Principal Associates, Main Business | Commercial banking |
Sumitomo Mitsui Auto Service Company, Limited [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 26.10% |
Principal Associates, Proportion of Voting Rights | 26.10% |
Principal Associates, Main Business | Leasing |
SMBC Aviation Capital Limited [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Ireland |
Principal Associates, Proportion of Ownership Interest | 32% |
Principal Associates, Proportion of Voting Rights | 32% |
Principal Associates, Main Business | Leasing |
POCKET CARD CO., LTD. [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 20% |
Principal Associates, Proportion of Voting Rights | 20% |
Principal Associates, Main Business | Credit card |
VPBank SMBC Finance Company Limited | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Vietnam |
Principal Associates, Proportion of Ownership Interest | 49% |
Principal Associates, Proportion of Voting Rights | 49% |
Principal Associates, Main Business | Consumer lending |
SAKURA KCS Corporation [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 29.70% |
Principal Associates, Proportion of Voting Rights | 29.70% |
Principal Associates, Main Business | System engineering and data processing |
JSOL Corporation [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 50% |
Principal Associates, Proportion of Voting Rights | 50% |
Principal Associates, Main Business | System development and data processing |
Sakura Information Systems Co., Ltd. [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | Japan |
Principal Associates, Proportion of Ownership Interest | 49% |
Principal Associates, Proportion of Voting Rights | 49% |
Principal Associates, Main Business | System engineering and data processing |
China Post & Capital Fund Management Co., Ltd. [member] | |
Disclosure of significant investments in associates and joint ventures [line items] | |
Principal Associates, Country of Incorporation | China |
Principal Associates, Proportion of Ownership Interest | 23.60% |
Principal Associates, Proportion of Voting Rights | 23.60% |
Principal Associates, Main Business | Investment management, and investment advisory and agency |
Investments in Associates and_4
Investments in Associates and Joint Ventures - Financial Information of all Individually Immaterial Associates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Investments in subsidiaries, joint ventures and associates [abstract] | |||
Carrying amount of investments in associates and joint ventures | ¥ 1,141,250 | ¥ 1,009,738 | |
Profit from continuing operations | 87,428 | (10,838) | ¥ 36,373 |
Other comprehensive income (loss) | 30,415 | 31,835 | |
Total comprehensive income | ¥ 117,843 | ¥ 20,997 |
Property, Plant and Equipment -
Property, Plant and Equipment - Changes in Property, Plant and Equipment (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | ¥ 1,762,996 | ¥ 1,754,661 | |
Additions | 213,485 | 174,443 | |
Acquisition of subsidiaries and businesses | 3,282 | ||
Disposals | (16,075) | (29,293) | |
Depreciation | (154,415) | (155,361) | |
Impairment losses | (31,617) | (43,708) | ¥ (10,959) |
Exchange differences | 81,686 | 60,955 | |
Others | (23,819) | (1,983) | |
Carrying amount, ending balance | 1,832,241 | 1,762,996 | 1,754,661 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 2,917,353 | 2,787,323 | |
Carrying amount, ending balance | 3,098,551 | 2,917,353 | 2,787,323 |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (1,154,357) | (1,032,662) | |
Carrying amount, ending balance | (1,266,310) | (1,154,357) | (1,032,662) |
Assets for rent [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 435,129 | 437,735 | |
Additions | 24,586 | 15,951 | |
Disposals | (4,086) | (18,287) | |
Depreciation | (18,869) | (17,165) | |
Impairment losses | (28,279) | ||
Exchange differences | 66,397 | 44,420 | |
Others | (5,880) | 754 | |
Carrying amount, ending balance | 497,277 | 435,129 | 437,735 |
Assets for rent [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 608,839 | 551,598 | |
Carrying amount, ending balance | 710,680 | 608,839 | 551,598 |
Assets for rent [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (173,710) | (113,863) | |
Carrying amount, ending balance | (213,403) | (173,710) | (113,863) |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 485,999 | 487,660 | |
Acquisition of subsidiaries and businesses | 2 | ||
Disposals | (3,366) | (1,452) | |
Impairment losses | (5,802) | (1,050) | |
Exchange differences | 400 | 258 | |
Others | 581 | ||
Carrying amount, ending balance | 477,231 | 485,999 | 487,660 |
Land [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 491,127 | 492,499 | |
Carrying amount, ending balance | 487,450 | 491,127 | 492,499 |
Land [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (5,128) | (4,839) | |
Carrying amount, ending balance | (10,219) | (5,128) | (4,839) |
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 353,055 | 363,963 | |
Additions | 18,193 | 19,802 | |
Disposals | (1,102) | (973) | |
Depreciation | (22,435) | (22,736) | |
Impairment losses | (25,711) | (14,092) | |
Exchange differences | 1,174 | 1,281 | |
Others | 6,084 | 5,810 | |
Carrying amount, ending balance | 329,258 | 353,055 | 363,963 |
Buildings [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 811,107 | 809,153 | |
Carrying amount, ending balance | 816,038 | 811,107 | 809,153 |
Buildings [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (458,052) | (445,190) | |
Carrying amount, ending balance | (486,780) | (458,052) | (445,190) |
Right of use assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 375,435 | 373,002 | |
Additions | 118,064 | 90,791 | |
Acquisition of subsidiaries and businesses | 2,622 | ||
Disposals | (5,217) | (6,906) | |
Depreciation | (89,324) | (93,734) | |
Exchange differences | 8,702 | 9,610 | |
Others | (663) | 50 | |
Carrying amount, ending balance | 406,997 | 375,435 | 373,002 |
Right of use assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 577,603 | 536,305 | |
Carrying amount, ending balance | 637,335 | 577,603 | 536,305 |
Right of use assets [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (202,168) | (163,303) | |
Carrying amount, ending balance | (230,338) | (202,168) | (163,303) |
Other tangible assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 113,378 | 92,301 | |
Additions | 52,642 | 47,899 | |
Acquisition of subsidiaries and businesses | 658 | ||
Disposals | (2,304) | (1,675) | |
Depreciation | (23,787) | (21,726) | |
Impairment losses | (104) | (287) | |
Exchange differences | 5,013 | 5,386 | |
Others | (23,360) | (9,178) | |
Carrying amount, ending balance | 121,478 | 113,378 | 92,301 |
Other tangible assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | 428,677 | 397,768 | |
Carrying amount, ending balance | 447,048 | 428,677 | 397,768 |
Other tangible assets [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Carrying amount, beginning balance | (315,299) | (305,467) | |
Carrying amount, ending balance | ¥ (325,570) | ¥ (315,299) | ¥ (305,467) |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Contractual commitments to acquire property, plant and equipment | ¥ 1,134 | ¥ 6,587 | |
Impairment loss | 31,617 | ¥ 43,708 | ¥ 10,959 |
Percentage of Discount Rate for Estimated Recoverable Amount of Assets | 5% | ||
Assets For Rent [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss | ¥ 28,279 | ||
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss | 25,711 | 14,092 | |
Buildings [member] | SMBC Retail Banking Unit [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss | 5,016 | ||
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss | ¥ 5,802 | ¥ 1,050 |
Leases - Disclosure of Quantita
Leases - Disclosure of Quantitative Information about Right-of-Use Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Net carrying amount | ¥ 413,299 | ¥ 382,040 |
Depreciation | 94,761 | 98,321 |
Land and buildings [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Net carrying amount | 380,615 | 348,331 |
Depreciation | 77,407 | 81,692 |
Other tangible assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Net carrying amount | 26,382 | 27,104 |
Depreciation | 11,917 | 12,042 |
Intangible assets other than goodwill [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Net carrying amount | 6,302 | 6,605 |
Depreciation | ¥ 5,437 | ¥ 4,587 |
Leases - Additional Information
Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of finance lease receivable of lessor [line items] | |||
Operating lease income | ¥ 39,654 | ¥ 32,733 | ¥ 34,426 |
Additions to right-of-use assets | 123,256 | 95,033 | |
Interest expense on lease liabilities | 3,905 | 3,061 | |
Cash outflow for leases | 94,522 | 99,095 | |
Finance Income | 10,427 | 8,554 | |
IFRS 9 [member] | |||
Disclosure of finance lease receivable of lessor [line items] | |||
Accumulated allowance for net investment in the lease | ¥ 824 | ¥ 467 |
Leases - Maturity Analysis of L
Leases - Maturity Analysis of Lease Liability (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments | ¥ 444,438 | ¥ 401,074 |
Less: Future interest charges | (27,441) | (17,367) |
Present value of finance lease commitments | 416,997 | 383,707 |
Not later than one year [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments | 76,929 | 76,068 |
Later than one year and not later than five years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments | 183,516 | 181,334 |
Later than five years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments | ¥ 183,993 | ¥ 143,672 |
Leases - Gross Investment in Le
Leases - Gross Investment in Lease, Unearned Finance Income, Present Value of Minimum Lease Payments Receivable and Unguaranteed Residual Values Under Finance Leases (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | ¥ 394,772 | ¥ 378,097 |
Unearned finance income | 117,826 | 111,255 |
Present value of the minimum lease payments receivable | 276,946 | 266,842 |
Unguaranteed residual values | 30,965 | 41,731 |
Not later than one year [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 38,510 | 48,883 |
Unearned finance income | 14,944 | 9,787 |
Present value of the minimum lease payments receivable | 23,566 | 39,096 |
Unguaranteed residual values | 862 | 1,205 |
Later than one year and not later than two years [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 30,015 | 34,612 |
Unearned finance income | 9,813 | 8,865 |
Present value of the minimum lease payments receivable | 20,202 | 25,747 |
Unguaranteed residual values | 2,413 | 903 |
Later than two years and not later than three years [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 65,669 | 24,634 |
Unearned finance income | 10,064 | 7,833 |
Present value of the minimum lease payments receivable | 55,605 | 16,801 |
Unguaranteed residual values | 5,975 | 14,695 |
Later than three years and not later than four years [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 25,616 | 51,422 |
Unearned finance income | 8,536 | 7,361 |
Present value of the minimum lease payments receivable | 17,080 | 44,061 |
Unguaranteed residual values | 6,111 | 1,186 |
Later than four years and not later than five years [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 21,687 | 17,818 |
Unearned finance income | 7,519 | 7,991 |
Present value of the minimum lease payments receivable | 14,168 | 9,827 |
Unguaranteed residual values | 4,158 | 12,634 |
Later than five years [member] | ||
Disclosure of finance lease and operating lease by lessor [line items] | ||
Gross investment in the lease | 213,275 | 200,728 |
Unearned finance income | 66,950 | 69,418 |
Present value of the minimum lease payments receivable | 146,325 | 131,310 |
Unguaranteed residual values | ¥ 11,446 | ¥ 11,108 |
Leases - Total Amounts of Futur
Leases - Total Amounts of Future Minimum Lease Payments Under Non-cancellable Operating Leases (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | ¥ 120,015 | ¥ 88,154 |
Not later than one year [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | 35,656 | 27,907 |
Later than one year and not later than two years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | 28,742 | 19,710 |
Later than two years and not later than three years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | 20,763 | 14,215 |
Later than three years and not later than four years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | 14,424 | 9,363 |
Later than four years and not later than five years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | 9,374 | 5,910 |
Later than five years [member] | ||
Disclosure of leases by lessee [line items] | ||
Future minimum lease payments under non-cancellable operating leases | ¥ 11,056 | ¥ 11,049 |
Intangible Assets - Changes in
Intangible Assets - Changes in Goodwill by Business Segment (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | ¥ 396,279 | ¥ 203,891 | |
Acquisitions | 179,197 | ||
Transfer of Business Segment | 0 | ||
Impairment losses | (126,151) | 0 | ¥ (42,398) |
Exchange differences | 1,878 | 13,191 | |
Carrying amount, ending balance | 272,006 | 396,279 | 203,891 |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 501,301 | 308,913 | |
Carrying amount, ending balance | 314,404 | 501,301 | 308,913 |
Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | (105,022) | (105,022) | |
Carrying amount, ending balance | (42,398) | (105,022) | (105,022) |
Retail Business Unit [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 61,952 | 61,952 | |
Acquisitions | 0 | ||
Transfer of Business Segment | 0 | ||
Impairment losses | 0 | ||
Exchange differences | 0 | ||
Carrying amount, ending balance | 61,952 | 61,952 | 61,952 |
Retail Business Unit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 61,952 | 61,952 | |
Carrying amount, ending balance | 61,952 | 61,952 | 61,952 |
Retail Business Unit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, ending balance | 0 | ||
Global Business Unit [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 4,977 | 4,450 | |
Acquisitions | 0 | ||
Transfer of Business Segment | 190,986 | ||
Impairment losses | 0 | ||
Exchange differences | 1,413 | 527 | |
Carrying amount, ending balance | 197,376 | 4,977 | 4,450 |
Global Business Unit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 4,977 | 4,450 | |
Carrying amount, ending balance | 197,376 | 4,977 | 4,450 |
Global Business Unit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, ending balance | 0 | ||
Head Office Account and Others [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 329,350 | 137,489 | |
Acquisitions | 179,197 | 179,197 | |
Transfer of Business Segment | (190,986) | ||
Impairment losses | (126,151) | ||
Exchange differences | 465 | 12,664 | |
Carrying amount, ending balance | 12,678 | 329,350 | 137,489 |
Head Office Account and Others [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | 434,372 | 242,511 | |
Carrying amount, ending balance | 55,076 | 434,372 | 242,511 |
Head Office Account and Others [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Carrying amount, beginning balance | (105,022) | (105,022) | |
Carrying amount, ending balance | ¥ (42,398) | ¥ (105,022) | ¥ (105,022) |
Intangible Assets - Changes i_2
Intangible Assets - Changes in Goodwill by Business Segment (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill | ¥ 179,197 | |
Head Office Account and Others [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill | ¥ 179,197 | ¥ 179,197 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 JPY (¥) Segments | Mar. 31, 2022 JPY (¥) | Mar. 31, 2021 JPY (¥) | |
Disclosure of detailed information about intangible assets [line items] | |||
Number of main business segments | Segments | 4 | ||
Goodwill | ¥ 272,006 | ¥ 396,279 | ¥ 203,891 |
Impairment loss | 126,151 | 0 | 42,398 |
Contractual commitments to acquire intangible assets | 631 | ||
Research and development expenditure recognized | 0 | 35 | 60 |
Impairment loss of intangible assets | 9,368 | 55,816 | 448 |
SMBC Nikko Securities Inc. [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | 1,000,000 | ||
Recoverable amount of asset | 111,219 | ||
SMBC Retail Banking Unit [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Recoverable amount of asset | 136,328 | ||
Fullerton India Credit Company Limited [Member] | Foreign countries [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | 192,165 | 190,986 | |
Leasehold rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Other intangibles | 6,512 | 6,639 | |
Other intangibles [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss of intangible assets | ¥ 665 | ||
Other intangibles [member] | SMBC Trust Bank Ltd. [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Pre Tax Discount Rate | 7% | ||
Computer software [member] | Internally generated [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss of intangible assets | ¥ 17 | 49,304 | |
Computer software [member] | Not internally generated [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss of intangible assets | ¥ 6,162 | 6,512 | |
Computer software [member] | SMBC Retail Banking Unit [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss of intangible assets | 32,678 | ||
Wholesale Business Unit [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Number of main business segments | Segments | 4 | ||
Retail Business Segment [member] | SMBC Consumer Finance Co., Ltd [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | ¥ 56,692 | 56,692 | |
Head Office Account and Others [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | 12,678 | 329,350 | ¥ 137,489 |
Impairment loss | 126,151 | ||
Head Office Account and Others [member] | SMBC Nikko Securities Inc. [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | 12,678 | 109,629 | |
Head Office Account and Others [member] | Sumitomo Mitsui DS Asset Management Company, Limited [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | 12,678 | ||
SMFGSecurities Segment [member] | SMBC Nikko Securities Inc. [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss | 109,629 | ||
Aggregated individually immaterial business combinations [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill | ¥ 10,471 | ¥ 26,294 |
Intangible Assets - Key Assumpt
Intangible Assets - Key Assumptions Used in Impairment Testing (Detail) | Mar. 31, 2023 | Mar. 31, 2022 |
SMBC Nikko Securities Inc. [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Pre-tax discount rate | 7.90% | 8.80% |
Growth rate | 1% | 1% |
SMBC Consumer Finance Co., Ltd [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Pre-tax discount rate | 8.95% | 9.53% |
Growth rate | 1% | 1% |
Sumitomo Mitsui DS Asset Management Company, Limited [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Pre-tax discount rate | 11.30% | 12.40% |
Growth rate | 1% | 1% |
Fullerton India [Member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Pre-tax discount rate | 17.60% | 17% |
Growth rate | 8.10% | 8.30% |
Intangible Assets - Changes i_3
Intangible Assets - Changes in Other Intangible Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | ¥ 596,570 | ¥ 615,829 | |
Additions | 204,314 | 199,078 | |
Acquisition of subsidiaries and businesses | 0 | 6,579 | |
Disposals | (5,237) | (3,291) | |
Amortization | (167,921) | (165,844) | |
Impairment losses | (9,368) | (55,816) | ¥ (448) |
Exchange differences | 4,396 | 8,472 | |
Others | 10,268 | (8,437) | |
Carrying amount ending balance | 633,022 | 596,570 | 615,829 |
Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 1,664,827 | 1,572,226 | |
Carrying amount ending balance | 1,695,121 | 1,664,827 | 1,572,226 |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (1,068,257) | (956,397) | |
Carrying amount ending balance | (1,062,099) | (1,068,257) | (956,397) |
Software [member] | Internally generated [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 315,875 | 334,639 | |
Additions | 124,596 | 125,824 | |
Acquisition of subsidiaries and businesses | 0 | ||
Disposals | (819) | (1,149) | |
Amortization | (90,292) | (95,604) | |
Impairment losses | (17) | (49,304) | |
Exchange differences | 471 | 551 | |
Others | 2,120 | 918 | |
Carrying amount ending balance | 351,934 | 315,875 | 334,639 |
Software [member] | Internally generated [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 841,775 | 788,808 | |
Carrying amount ending balance | 859,742 | 841,775 | 788,808 |
Software [member] | Internally generated [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (525,900) | (454,169) | |
Carrying amount ending balance | (507,808) | (525,900) | (454,169) |
Software [member] | Purchased [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 144,594 | 140,722 | |
Additions | 64,552 | 59,913 | |
Acquisition of subsidiaries and businesses | 0 | 1,030 | |
Disposals | (1,389) | (1,728) | |
Amortization | (52,411) | (46,200) | |
Impairment losses | (6,162) | (6,512) | |
Exchange differences | 1,752 | 2,282 | |
Others | 18,675 | (4,913) | |
Carrying amount ending balance | 169,611 | 144,594 | 140,722 |
Software [member] | Purchased [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 467,821 | 412,032 | |
Carrying amount ending balance | 511,135 | 467,821 | 412,032 |
Software [member] | Purchased [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (323,227) | (271,310) | |
Carrying amount ending balance | (341,524) | (323,227) | (271,310) |
Contractual customer relationships [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 60,259 | 65,196 | |
Acquisition of subsidiaries and businesses | 0 | 5,504 | |
Amortization | (13,006) | (12,315) | |
Impairment losses | (2,524) | ||
Exchange differences | 667 | 1,874 | |
Carrying amount ending balance | 45,396 | 60,259 | 65,196 |
Contractual customer relationships [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 188,183 | 189,900 | |
Carrying amount ending balance | 181,499 | 188,183 | 189,900 |
Contractual customer relationships [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (127,924) | (124,704) | |
Carrying amount ending balance | (136,103) | (127,924) | (124,704) |
Trademarks [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 8,987 | 8,878 | |
Acquisition of subsidiaries and businesses | 0 | ||
Amortization | (621) | (885) | |
Exchange differences | 417 | 994 | |
Carrying amount ending balance | 8,783 | 8,987 | 8,878 |
Trademarks [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 56,693 | 55,573 | |
Carrying amount ending balance | 52,903 | 56,693 | 55,573 |
Trademarks [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (47,706) | (46,695) | |
Carrying amount ending balance | (44,120) | (47,706) | (46,695) |
Other intangibles [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 66,855 | 66,394 | |
Additions | 15,166 | 13,341 | |
Acquisition of subsidiaries and businesses | 0 | 45 | |
Disposals | (3,029) | (414) | |
Amortization | (11,591) | (10,840) | |
Impairment losses | (665) | ||
Exchange differences | 1,089 | 2,771 | |
Others | (10,527) | (4,442) | |
Carrying amount ending balance | 57,298 | 66,855 | 66,394 |
Other intangibles [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | 110,355 | 125,913 | |
Carrying amount ending balance | 89,842 | 110,355 | 125,913 |
Other intangibles [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Carrying amount beginning balance | (43,500) | (59,519) | |
Carrying amount ending balance | ¥ (32,544) | ¥ (43,500) | ¥ (59,519) |
Other Assets - Summary of Other
Other Assets - Summary of Other Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Miscellaneous assets [abstract] | ||
Prepaid expenses | ¥ 119,041 | ¥ 89,783 |
Accrued income | 577,707 | 353,673 |
Receivables from brokers, dealers and customers for securities transactions | 817,020 | 1,505,359 |
Cash collateral provided for derivative and other financial transactions | 3,030,136 | 2,620,665 |
Retirement benefit assets | 562,144 | 553,118 |
Security deposits | 78,050 | 83,903 |
Others | 983,104 | 857,406 |
Total other assets | ¥ 6,167,202 | ¥ 6,063,907 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Deposits from customers [abstract] | ||
Non-interest-bearing demand deposits | ¥ 33,550,063 | ¥ 30,967,878 |
Interest-bearing demand deposits | 75,184,412 | 71,508,201 |
Deposits at notice | 14,446,630 | 12,036,543 |
Time deposits | 27,523,697 | 25,137,738 |
Negotiable certificates of deposit | 13,025,556 | 13,069,797 |
Others | 9,197,452 | 9,873,335 |
Total deposits | ¥ 172,927,810 | ¥ 162,593,492 |
Trading Liabilities - Summary o
Trading Liabilities - Summary of Trading Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Trading liabilities | ¥ 3,291,089 | ¥ 3,181,992 |
Debt instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Trading liabilities | 3,101,433 | 3,152,043 |
Equity instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Trading liabilities | ¥ 189,656 | ¥ 29,949 |
Financial Liabilities Designa_3
Financial Liabilities Designated At Fair Value Through Profit Or Loss - Summary of financial instruments designated at fair value through profit or loss (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Statement [Line Items] | ||
Financial liabilities at fair value through profit or loss | ¥ 414,106 | ¥ 455,734 |
Borrowings | ||
Statement [Line Items] | ||
Financial liabilities at fair value through profit or loss | 113,262 | 72,470 |
Debt securities in issue | ||
Statement [Line Items] | ||
Financial liabilities at fair value through profit or loss | ¥ 300,844 | ¥ 383,264 |
Financial Liabilities Designa_4
Financial Liabilities Designated At Fair Value Through Profit Or Loss - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Statement [Line Items] | ||
Financial liabilities designated at fair value through profit or loss | ¥ 53,814 | ¥ 51,684 |
Accumulated gain or loss in fair value of financial liability, attributable to changes in credit risk of liability | ¥ 13,595 | 748 |
Top of range [member] | ||
Statement [Line Items] | ||
Accumulated gain or loss in fair value of financial liability, attributable to changes in credit risk of liability | ¥ 12,847 |
Borrowings - Short-term Borrowi
Borrowings - Short-term Borrowings and Long-term Borrowings (with Original Maturities of More Than One Year) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 15,371,801 | ¥ 20,584,651 |
Unsubordinated borrowings [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 13,532,217 | 18,766,117 |
Subordinated borrowings [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 186,218 | 234,680 |
Liabilities associated with securitization transactions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,236,369 | 1,200,147 |
Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 416,997 | ¥ 383,707 |
Debt Securities in Issue - Summ
Debt Securities in Issue - Summary of Debt Securities in Issue (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 11,984,994 | ¥ 11,428,437 |
Sumitomo mitsui banking corporation [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 1,908,637 | 1,942,388 |
Sumitomo mitsui banking corporation [member] | Subordinated bonds [Member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Japanese yen | |
Debt securities in issue, Maturity year | 2026 | |
Debt securities in issue | ¥ 59,997 | 59,996 |
Sumitomo mitsui banking corporation [member] | Subordinated bonds [Member] | Minimum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 2.17% | |
Sumitomo mitsui banking corporation [member] | Subordinated bonds [Member] | Maximum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 2.21% | |
Sumitomo mitsui banking corporation [member] | Commercial paper [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 1,292,198 | 1,229,180 |
Sumitomo mitsui banking corporation [member] | Commercial paper [member] | Minimum [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | (0.57%) | |
Sumitomo mitsui banking corporation [member] | Commercial paper [member] | Maximum [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 5.40% | |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | United States dollars | |
Debt securities in issue | ¥ 437,393 | 542,129 |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | euros | |
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 2.75% | |
Debt securities in issue | ¥ 72,101 | 68,124 |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Australian dollars | |
Debt securities in issue | ¥ 15,109 | 12,048 |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Hong Kong, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Hong Kong dollars | |
Debt securities in issue, Maturity year | 2025 | |
Debt securities in issue, Interest rate | 2.92% | |
Debt securities in issue | ¥ 12,423 | 11,672 |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | China Yuan [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Chinese yuan | |
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 3.20% | |
Debt securities in issue | ¥ 19,416 | 19,239 |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Minimum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 3% | |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Minimum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 2.90% | |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Maximum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2045 | |
Debt securities in issue, Interest rate | 5.99% | |
Sumitomo mitsui banking corporation [member] | Unsubordinated bonds [Member] | Maximum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2027 | |
Debt securities in issue, Interest rate | 4.79% | |
Other subsidiaries [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 2,349,114 | 2,230,062 |
Other subsidiaries [member] | Subordinated bonds [Member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Japanese yen | |
Debt securities in issue, Maturity year | 2028 | |
Debt securities in issue | ¥ 20,000 | 20,000 |
Other subsidiaries [member] | Subordinated bonds [Member] | Minimum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 4% | |
Other subsidiaries [member] | Subordinated bonds [Member] | Maximum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 4.15% | |
Other subsidiaries [member] | Commercial paper [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 1,293,691 | 1,195,399 |
Other subsidiaries [member] | Commercial paper [member] | Minimum [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | (0.01%) | |
Other subsidiaries [member] | Commercial paper [member] | Maximum [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Interest rate | 5.59% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | United States dollars | |
Debt securities in issue | ¥ 148,425 | 205,438 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | euros | |
Debt securities in issue | ¥ 583,083 | 444,969 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Australian dollars | |
Debt securities in issue | ¥ 380 | 532 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Japanese yen | |
Debt securities in issue | ¥ 140,582 | 165,051 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Indonesia, Rupiahs [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Indonesian rupiah | |
Debt securities in issue | ¥ 1,782 | 8,474 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Turkish Lira [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Turkish lira | |
Debt securities in issue | ¥ 177 | 822 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | China Yuan [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Chinese yuan | |
Debt securities in issue, Interest rate | 0% | |
Debt securities in issue | ¥ 18,629 | 62,982 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | India, Rupees | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Indian rupee | |
Debt securities in issue | ¥ 142,365 | 126,395 |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0.01% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 0.01% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0.01% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0.01% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | Indonesia, Rupiahs [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 7.55% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | Turkish Lira [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0.01% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | China Yuan [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Minimum [member] | India, Rupees | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 5.50% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2037 | |
Debt securities in issue, Interest rate | 4% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2029 | |
Debt securities in issue, Interest rate | 3.60% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2028 | |
Debt securities in issue, Interest rate | 0.75% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2050 | |
Debt securities in issue, Interest rate | 14.15% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | Indonesia, Rupiahs [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2024 | |
Debt securities in issue, Interest rate | 7.75% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | Turkish Lira [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 15% | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | China Yuan [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2023 | |
Other subsidiaries [member] | Unsubordinated bonds [Member] | Maximum [member] | India, Rupees | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2032 | |
Debt securities in issue, Interest rate | 11.40% | |
SMFG [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue | ¥ 7,727,243 | 7,255,987 |
SMFG [member] | Subordinated bonds [Member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | United States dollars | |
Debt securities in issue | ¥ 462,082 | 451,272 |
SMFG [member] | Subordinated bonds [Member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Japanese yen | |
Debt securities in issue | ¥ 571,671 | 471,753 |
SMFG [member] | Subordinated bonds [Member] | Minimum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2024 | |
Debt securities in issue, Interest rate | 2.14% | |
SMFG [member] | Subordinated bonds [Member] | Minimum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2024 | |
Debt securities in issue, Interest rate | 0.47% | |
SMFG [member] | Subordinated bonds [Member] | Maximum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2041 | |
Debt securities in issue, Interest rate | 4.44% | |
SMFG [member] | Subordinated bonds [Member] | Maximum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2033 | |
Debt securities in issue, Interest rate | 1.67% | |
SMFG [member] | Unsubordinated bonds [Member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | United States dollars | |
Debt securities in issue | ¥ 5,741,299 | 5,325,808 |
SMFG [member] | Unsubordinated bonds [Member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | euros | |
Debt securities in issue | ¥ 721,701 | 825,503 |
SMFG [member] | Unsubordinated bonds [Member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Australian dollars | |
Debt securities in issue | ¥ 104,673 | 177,013 |
SMFG [member] | Unsubordinated bonds [Member] | Hong Kong, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Hong Kong dollars | |
Debt securities in issue, Maturity year | 2028 | |
Debt securities in issue, Interest rate | 3.54% | |
Debt securities in issue | ¥ 4,833 | ¥ 4,638 |
SMFG [member] | Unsubordinated bonds [Member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Currency payable in | Japanese yen | |
Debt securities in issue | ¥ 120,984 | |
SMFG [member] | Unsubordinated bonds [Member] | Minimum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0.05% | |
SMFG [member] | Unsubordinated bonds [Member] | Minimum [member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2022 | |
Debt securities in issue, Interest rate | 0% | |
SMFG [member] | Unsubordinated bonds [Member] | Minimum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2023 | |
Debt securities in issue, Interest rate | 1.32% | |
SMFG [member] | Unsubordinated bonds [Member] | Minimum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2027 | |
Debt securities in issue, Interest rate | 0.86% | |
SMFG [member] | Unsubordinated bonds [Member] | Maximum [member] | U.S. Dollar [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2052 | |
Debt securities in issue, Interest rate | 5.77% | |
SMFG [member] | Unsubordinated bonds [Member] | Maximum [member] | Euro [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2033 | |
Debt securities in issue, Interest rate | 1.72% | |
SMFG [member] | Unsubordinated bonds [Member] | Maximum [member] | Australia, Dollars [Member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2028 | |
Debt securities in issue, Interest rate | 4.60% | |
SMFG [member] | Unsubordinated bonds [Member] | Maximum [member] | Japanese Yen [member] | ||
Debt securities in issue [line items] | ||
Debt securities in issue, Maturity year | 2034 | |
Debt securities in issue, Interest rate | 1.47% |
Debt Securities in Issue - Su_2
Debt Securities in Issue - Summary of Movement in Subordinated Bonds (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Debt Securities In Issue [abstract] | |||
Subordinated bonds at beginning of period | ¥ 1,003,021 | ¥ 1,277,362 | |
Cash flows: | |||
Proceeds from issuance of subordinated bonds | 99,984 | 95,533 | ¥ 90,135 |
Redemption of subordinated bonds | (382,600) | (361,820) | |
Non-cash changes: | |||
Foreign exchange translations | 43,940 | 47,143 | |
Others | (33,195) | (34,417) | |
Subordinated bonds at end of period | ¥ 1,113,750 | ¥ 1,003,021 | ¥ 1,277,362 |
Provisions - Movements by Class
Provisions - Movements by Class of Provisions (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of other provisions [line items] | ||
Beginning balance | ¥ 227,784 | |
Ending balance | 247,344 | ¥ 227,784 |
IFRS 9 [member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 227,784 | 224,274 |
Additional provisions | 63,141 | 52,725 |
Amounts used | (43,501) | (48,322) |
Unused amounts reversed | (90) | (655) |
Amortization of discount and effect of change in discount rate | (41) | (259) |
Others | 51 | 21 |
Ending balance | 247,344 | 227,784 |
Provision for interest repayment [member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 135,123 | 141,201 |
Additional provisions | 29,000 | 32,000 |
Amounts used | (35,707) | (37,674) |
Amortization of discount and effect of change in discount rate | (182) | (404) |
Ending balance | 128,234 | 135,123 |
Other provisions [member] | ||
Disclosure of other provisions [line items] | ||
Beginning balance | 92,661 | 83,073 |
Additional provisions | 34,141 | 20,725 |
Amounts used | (7,794) | (10,648) |
Unused amounts reversed | (90) | (655) |
Amortization of discount and effect of change in discount rate | 141 | 145 |
Others | 51 | 21 |
Ending balance | ¥ 119,110 | ¥ 92,661 |
Provisions - Additional Informa
Provisions - Additional Information (Detail) - Claims Claims in Thousands | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of other provisions [line items] | |||
Historical number of customer claims for refund of gray zone interest | 85 | 91 | 89 |
Interest Rate Restriction Act [member] | Minimum [member] | |||
Disclosure of other provisions [line items] | |||
Interest rates on loans | 15% | ||
Interest Rate Restriction Act [member] | Maximum [member] | |||
Disclosure of other provisions [line items] | |||
Interest rates on loans | 20% | ||
Act regulating the receipt of contributions, receipt of deposits and interest rates [member] | Maximum [member] | |||
Disclosure of other provisions [line items] | |||
Interest rates on loans | 29.20% |
Other Liabilities - Summary of
Other Liabilities - Summary of Other Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Miscellaneous liabilities [abstract] | ||
Accrued expenses | ¥ 569,480 | ¥ 365,367 |
Unearned income | 64,821 | 86,519 |
Financial guarantees and other credit-related contingent liabilities | 41,234 | 37,241 |
Due to trust account | 1,696,286 | 1,814,781 |
Payables to brokers, dealers and customers for securities transactions | 1,377,908 | 1,528,716 |
Payables related to credit card services | 1,068,315 | 885,022 |
Obligations from factoring transactions | 385,642 | 482,346 |
Retirement benefit liabilities | 37,021 | 44,622 |
Guarantee deposits and derivative cash collateral received | 1,489,987 | 727,668 |
Others | 1,972,719 | 2,414,492 |
Total other liabilities | ¥ 8,703,413 | ¥ 8,386,774 |
Deferred Income Tax - Changes o
Deferred Income Tax - Changes of Net Deferred Tax Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Changes in Deferred Tax Assets and Liabilities [Line Items] | |||
At beginning of period | ¥ (200,299) | ||
Deferred tax benefit (expense) | (141,365) | ¥ 29,453 | ¥ (43,660) |
Deferred tax relating to other comprehensive income: | |||
At end of period | (250,120) | (200,299) | |
IFRS 9 [member] | |||
Changes in Deferred Tax Assets and Liabilities [Line Items] | |||
At beginning of period | (200,299) | (370,577) | |
Deferred tax benefit (expense) | (141,365) | 29,453 | |
Deferred tax relating to other comprehensive income: | |||
Remeasurements of defined benefit plans reserve | (2,288) | (10,027) | |
Financial instruments at fair value through other comprehensive income reserve | 92,181 | 135,022 | |
Own credit on financial liabilities designated at fair value through profit or loss reserve | (3,934) | (1,754) | |
Exchange differences on translating foreign operations reserve | 860 | (8,934) | |
Acquisition and disposal of subsidiaries and businesses | 12,825 | ||
Exchange differences and others | 4,725 | 13,693 | |
At end of period | ¥ (250,120) | ¥ (200,299) | ¥ (370,577) |
Deferred Income Tax - Deferred
Deferred Income Tax - Deferred Tax Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | ¥ 65,810 | ¥ 58,981 |
Deferred tax liabilities | 315,930 | 259,280 |
Net deferred tax assets (liabilities) | (250,120) | (200,299) |
Derivatives [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax liabilities | 122,161 | 6,536 |
Gross carrying amount [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 733,352 | 731,831 |
Deferred tax liabilities | 983,472 | 932,130 |
Gross carrying amount [member] | Loans and advances [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 429,848 | 451,720 |
Gross carrying amount [member] | Tax losses carried forward [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 87,951 | 76,223 |
Gross carrying amount [member] | Provision for interest repayment [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 35,963 | 37,826 |
Gross carrying amount [member] | Investment securities [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 27,207 | 16,811 |
Deferred tax liabilities | 547,661 | 637,052 |
Gross carrying amount [member] | Retirement benefits [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 9,494 | 12,081 |
Deferred tax liabilities | 80,801 | 81,051 |
Gross carrying amount [member] | Property, plant and equipment [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax liabilities | 91,789 | 66,521 |
Gross carrying amount [member] | Goodwill and intangible assets [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax liabilities | 22,700 | 55,948 |
Gross carrying amount [member] | Lease transactions [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax liabilities | 6,840 | 6,509 |
Gross carrying amount [member] | Other temporary differences-net [member] | ||
Deferred tax assets and liabilities [Line Items] | ||
Deferred tax assets | 142,889 | 137,170 |
Deferred tax liabilities | ¥ 111,520 | ¥ 78,513 |
Deferred Income Tax - Additiona
Deferred Income Tax - Additional Information (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of income tax expense [Line Items] | ||
Deferred tax assets for deductible temporary differences related to investments in subsidiaries, associates and joint ventures | ¥ 416 | ¥ 833 |
Temporary differences associated with investments in subsidiaries, associates and joint ventures for which deferred tax liabilities had not been recognized | ¥ 4,171 | ¥ 3,307 |
Deferred Income Tax - Amounts o
Deferred Income Tax - Amounts of Deductible Temporary Differences and Tax Losses Carried Forward by Expiration Date (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Deductible temporary differences | ¥ 286,126 | ¥ 269,907 |
Total deductible temporary differences and tax losses carried forward | 703,233 | 717,414 |
Tax losses carried forward which will expire in 1 year [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 18,345 | 37,370 |
Tax losses carried forward which will expire in 2 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 19,518 | 37,697 |
Tax losses carried forward which will expire in 3 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 14,944 | 23,076 |
Tax losses carried forward which will expire in 4 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 51,766 | 14,971 |
Tax losses carried forward which will expire in 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 4,347 | 60,240 |
Tax losses carried forward which will expire in 6 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 137,196 | 0 |
Tax losses carried forward which will expire in 7 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 46,489 | 137,196 |
Tax losses carried forward which will expire in 8 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 41,879 | 46,498 |
Tax losses carried forward which will expire in 9 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | 40,620 | 41,997 |
Tax losses carried forward which will expire in 10 years and thereafter [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits which no deferred tax assets were recognized [line items] | ||
Tax losses carried forward | ¥ 42,003 | ¥ 48,462 |
Deferred Income Tax - Amounts_2
Deferred Income Tax - Amounts of Deductible Temporary Differences and Tax Losses Carried Forward by Expiration Date (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | ||
Deductible temporary differences and tax losses carried forward for which deferred tax assets are recognized | ¥ 243,822 | ¥ 268,407 |
Deferred Income Tax - Deferre_2
Deferred Income Tax - Deferred Tax Benefit and Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | ¥ (141,365) | ¥ 29,453 | ¥ (43,660) |
Derivatives [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | (108,466) | (51,209) | |
Goodwill and intangible assets [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | 33,248 | 5,583 | |
Loans and advances [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | (32,339) | 43,680 | |
Property, plant and equipment [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | (8,304) | 14,706 | |
Investment securities [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | 7,708 | 25,869 | |
Tax losses carried forward [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | 2,861 | 6,576 | |
Provision for interest repayment [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | (1,862) | (1,561) | |
Lease transactions [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | 539 | 1,602 | |
Retirement benefits [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | 125 | 7,896 | |
Other temporary differences-net [member] | |||
Disclosure of deferred tax expense attributable to the temporary differences and tax losses carried forward [Line Items] | |||
Deferred tax benefit (expense) | ¥ (34,875) | ¥ (23,689) |
Retirement Benefits - Detailed
Retirement Benefits - Detailed Information for the Defined Benefit Plans (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Fair value of plan assets | ¥ 1,663,637 | ¥ 1,642,554 |
Net retirement benefit assets (liabilities) | 525,123 | 508,496 |
Of which retirement benefit liabilities included in "Other liabilities" | (37,021) | (44,622) |
Of which retirement benefit assets included in "Other assets" | 562,144 | 553,118 |
Present value of unfunded obligations [member] | ||
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Present value of obligations | (32,531) | (32,948) |
Present value of funded obligations [member] | ||
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Present value of obligations | (995,908) | (1,083,182) |
Surplus Deficit In Plllan Before Asset Ceiling Member [Member] | ||
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Net retirement benefit assets (liabilities) | 635,198 | 526,424 |
Effect of asset ceiling [member] | ||
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Net retirement benefit assets (liabilities) | ¥ 110,075 | ¥ 17,928 |
Retirement Benefits - Movements
Retirement Benefits - Movements in Defined Benefit Obligation (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
At beginning of period | ¥ 17,928 | ||
Current service cost | (30,761) | ¥ (30,658) | ¥ (32,099) |
Interest cost | 3,845 | 2,843 | 1,415 |
Past service cost | (4,077) | 7,175 | (28,023) |
At end of period | 110,075 | 17,928 | |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
At beginning of period | 1,116,130 | 1,147,057 | |
Current service cost | 30,761 | 30,658 | |
Interest cost | 8,782 | 7,077 | |
Actuarial losses (gains)—demographic assumptions | (465) | (689) | |
Actuarial losses (gains)—financial assumptions | (61,402) | (30,384) | |
Actuarial losses (gains)—experience | 517 | 10,780 | |
Benefits paid | (43,135) | (42,272) | |
Lump-sum payments | (16,004) | (15,099) | |
Past service cost | (4,077) | 7,175 | |
Others | (2,668) | 1,827 | |
At end of period | ¥ 1,028,439 | ¥ 1,116,130 | ¥ 1,147,057 |
Retirement Benefits - Movemen_2
Retirement Benefits - Movements in Fair Value of the Plan Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
At beginning of period | ¥ (17,928) | ||
Interest income | (3,845) | ¥ (2,843) | ¥ (1,415) |
At end of period | (110,075) | (17,928) | |
Plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
At beginning of period | 1,642,554 | 1,627,110 | |
Interest income | 12,760 | 9,920 | |
Return on plan assets excluding interest income | 38,081 | 30,716 | |
Contributions by employer | 12,775 | 12,718 | |
Benefits paid | (43,135) | (42,272) | |
Others | 602 | 4,362 | |
At end of period | ¥ 1,663,637 | ¥ 1,642,554 | ¥ 1,627,110 |
Retirement Benefits - Effect of
Retirement Benefits - Effect of the Asset Ceiling (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of net defined benefit liability (asset) [abstract] | ||
At beginning of period | ¥ 17,928 | |
Interest cost | 133 | |
Change in the asset ceiling | 92,014 | ¥ 17,928 |
At end of period | ¥ 110,075 | ¥ 17,928 |
Retirement Benefits - Amounts R
Retirement Benefits - Amounts Recognized in Consolidated Income Statement (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [abstract] | |||
Current service cost | ¥ 30,761 | ¥ 30,658 | ¥ 32,099 |
Net interest cost | (3,845) | (2,843) | (1,415) |
Past service cost | (4,077) | 7,175 | (28,023) |
Total | ¥ 22,839 | ¥ 34,990 | ¥ 2,661 |
Retirement Benefits - Plan Asse
Retirement Benefits - Plan Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of fair value of plan assets [Line Items] | |||
Total | ¥ (110,075) | ¥ (17,928) | |
Plan assets [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Total | 1,663,637 | 1,642,554 | ¥ 1,627,110 |
Plan assets [member] | Level 1 [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Total | 847,740 | 839,999 | |
Plan assets [member] | Level 2 and 3 of fair value hierarchy [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Total | 815,897 | 802,555 | |
Plan assets [member] | Pension funds [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 327,167 | 358,156 | |
Debt instruments | 230,979 | 223,764 | |
General account of life insurance companies | 41,595 | 41,297 | |
Other investments and short-term assets | 460,237 | 441,009 | |
Plan assets [member] | Pension funds [member] | Level 1 [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 195,852 | 223,856 | |
Debt instruments | 16,857 | 10,790 | |
General account of life insurance companies | 0 | 222 | |
Other investments and short-term assets | 42,810 | 38,051 | |
Plan assets [member] | Pension funds [member] | Level 2 and 3 of fair value hierarchy [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 131,315 | 134,300 | |
Debt instruments | 214,122 | 212,974 | |
General account of life insurance companies | 41,595 | 41,075 | |
Other investments and short-term assets | 417,427 | 402,958 | |
Plan assets [member] | Retirement benefit trusts [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 513,806 | 491,119 | |
Other short-term assets | 89,853 | 87,209 | |
Plan assets [member] | Retirement benefit trusts [member] | Level 1 [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 511,553 | 488,762 | |
Other short-term assets | 80,668 | 78,318 | |
Plan assets [member] | Retirement benefit trusts [member] | Level 2 and 3 of fair value hierarchy [member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Equity instruments | 2,253 | 2,357 | |
Other short-term assets | ¥ 9,185 | ¥ 8,891 |
Retirement Benefits - Additiona
Retirement Benefits - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of defined benefit plans [Line Items] | |||
Expected contributions to defined benefit plans for the fiscal year ending March 31, 2024 | ¥ 12,498 | ||
Contributions charged to expense for the Employees' Pension Insurance Plan | 13,166 | ¥ 11,997 | ¥ 10,994 |
Selling, general and administrative expense [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Contributions charged to expense for the Employees' Pension Insurance Plan | ¥ 40,330 | ¥ 39,263 | ¥ 37,692 |
Average life expectancy at age 60 [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current average remaining life expectancy of individual male employees retiring at age 60 | 24 years | 24 years | 24 years |
Current average remaining life expectancy of individual female employees retiring at age 60 | 29 years | 29 years | 29 years |
Retirement benefit trusts [member] | Equity investments where voting rights were retained [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fair values of equity instruments where company retained voting rights | ¥ 504,452 | ¥ 479,874 | |
Fair values of equity instruments where company retained voting rights, percentage of fair values of plan assets | 30.30% | 29.20% |
Retirement Benefits - Principal
Retirement Benefits - Principal Actuarial Assumptions (Detail) | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of defined benefit plans [abstract] | |||
Discount rates | 1.20% | 0.80% | 0.60% |
Retirement Benefits - Sensitivi
Retirement Benefits - Sensitivity Analyses of Effect of Changes in Key Assumptions on Defined Benefit Obligations (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Discount rates [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Percentage increase in assumption | 0.50% | 0.50% |
Increase/(decrease) in defined benefit obligations due to increase in assumption | ¥ (54,832) | ¥ (61,869) |
Increase/(decrease) in defined benefit obligations due to decrease in assumption | ¥ 61,585 | ¥ 69,733 |
Average life expectancy at age 60 [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Year increase in assumption | 1 year | 1 year |
Increase/(decrease) in defined benefit obligations due to increase in assumption | ¥ 30,466 | ¥ 34,064 |
Percentage decrease in assumption | 0.50% | 0.50% |
Retirement Benefits - Weighted
Retirement Benefits - Weighted Average Durations of Defined Benefit Plans (Detail) | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Lump-sum severance indemnity plans [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average durations of defined benefit plans | 11 years 3 months 18 days | 12 years 8 months 12 days | 12 years 10 months 24 days |
Defined benefit pension plans [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average durations of defined benefit plans | 15 years 7 months 6 days | 18 years 4 months 24 days | 18 years 6 months |
Shareholders' Equity - Changes
Shareholders' Equity - Changes in Number of Issued Shares of Common Stock and Common Stock Held by SMFG or its Subsidiaries (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Common stock [member] | |||
Disclosure of classes of share capital [line items] | |||
At beginning of period | 1,374,362,102 | 1,374,040,061 | 1,373,171,556 |
Net change | 329,092 | 322,041 | 868,505 |
At end of period | 1,374,691,194 | 1,374,362,102 | 1,374,040,061 |
Treasury stock [member] | |||
Disclosure of classes of share capital [line items] | |||
At beginning of period | 3,542,321 | 3,612,302 | 3,645,043 |
Net change | 26,528,329 | (69,981) | (32,741) |
At end of period | 30,070,650 | 3,542,321 | 3,612,302 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
May 31, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Nov. 15, 2022 | Nov. 12, 2021 | |
Total number of authorized shares of common stock | 3,000,000,000 | 3,000,000,000 | ||||
Number of shares repurchased | 26,619,000 | |||||
Purchase of treasury stock | ¥ 138,840 | ¥ 75 | ¥ 62 | |||
Total amount the company can pay out as a dividend | ¥ 2,159,000 | |||||
Share repurchase program [member] | ||||||
Shares authorized to be repurchased amount | ¥ 200,000 | ¥ 100,000 | ||||
Number of shares repurchased | 37,640,000 | |||||
Purchase of treasury stock | ¥ 200,000 | |||||
Shares authorized to be repurchased, shares | 61,000,000 | 33,000,000 |
Shareholders' Equity - Number o
Shareholders' Equity - Number of Shares of Preferred Stock (Detail) - shares | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of classes of share capital [line items] | ||
Preferred stock, Authorized | 3,000,000,000 | 3,000,000,000 |
Type 5 preferred stock [member] | ||
Disclosure of classes of share capital [line items] | ||
Preferred stock, Authorized | 167,000 | 167,000 |
Type 7 preferred stock [member] | ||
Disclosure of classes of share capital [line items] | ||
Preferred stock, Authorized | 167,000 | 167,000 |
Type 8 preferred stock [member] | ||
Disclosure of classes of share capital [line items] | ||
Preferred stock, Authorized | 115,000 | 115,000 |
Type 9 preferred stock [member] | ||
Disclosure of classes of share capital [line items] | ||
Preferred stock, Authorized | 115,000 | 115,000 |
Shareholders' Equity - Movement
Shareholders' Equity - Movements of Other Reserves (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
At beginning of period | ¥ 12,781,692 | ¥ 12,276,150 | ¥ 10,934,878 |
Gains (losses) arising during the period, before tax | 7,417 | 33,081 | 327,681 |
Income tax (expense) benefit for changes arising during the period | (29,387) | (43,341) | (465,333) |
Reclassification adjustments for (gains) losses included in net profit, before tax | 94,803 | 113,334 | (79,711) |
Gains (losses) arising during the period, before tax | 304,252 | 404,292 | 86,842 |
Share of other comprehensive income (loss) of associates and joint ventures | 30,660 | 30,891 | 2,960 |
Share of other comprehensive income (loss) of associates and joint ventures | (245) | 944 | 6,375 |
At end of period | 13,536,965 | 12,781,692 | 12,276,150 |
Remeasurements of defined benefit plans [member] | |||
At beginning of period | 197,310 | 214,411 | (2,553) |
Gains (losses) arising during the period, before tax | 7,417 | 33,081 | 327,681 |
Income tax (expense) benefit for changes arising during the period | (2,288) | (10,027) | (100,427) |
Amount attributable to non-controlling interests | (9) | 31 | 26 |
Share of other comprehensive income (loss) of associates and joint ventures | 33 | 911 | 1,096 |
Transfer from other reserves to retained earnings | (42,879) | (41,097) | (11,412) |
At end of period | 159,584 | 197,310 | 214,411 |
Exchange differences on translating foreign operations [member] | |||
At beginning of period | 540,242 | 113,646 | 28,260 |
Gains (losses) arising during the period, before tax | 304,252 | 404,292 | 86,842 |
Income tax (expense) benefit for changes arising during the period | 2,509 | (8,875) | (3,784) |
Reclassification adjustments for (gains) losses included in net profit, before tax | 5,385 | 192 | 446 |
Income tax (expense) benefit for reclassification adjustments | (1,649) | (59) | (137) |
Amount attributable to non-controlling interests | (311) | (1,624) | (469) |
Share of other comprehensive income (loss) of associates and joint ventures | 34,362 | 32,670 | 2,488 |
At end of period | 884,790 | 540,242 | 113,646 |
Financial Assets at Fair Value Through OCI Category [member] | |||
At beginning of period | 1,808,222 | 2,106,255 | 1,500,013 |
Gains (losses) arising during the period, before tax | (264,309) | (410,631) | 996,972 |
Income tax (expense) benefit for changes arising during the period | 81,384 | 125,617 | (304,515) |
Reclassification adjustments for (gains) losses included in net profit, before tax | 94,803 | 113,334 | (79,711) |
Income tax benefit for reclassification adjustments | (29,040) | (34,705) | 24,409 |
Amount attributable to non-controlling interests | 15 | 3 | 4 |
Share of other comprehensive income (loss) of associates and joint ventures | (3,980) | (1,746) | 5,751 |
Transfer from other reserves to retained earnings | (111,902) | (89,905) | (36,668) |
At end of period | ¥ 1,575,193 | ¥ 1,808,222 | ¥ 2,106,255 |
Shareholders' Equity - Moveme_2
Shareholders' Equity - Movements of Exchange Differences on Translating the Foreign Operations Reserve (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
At beginning of period | ¥ 12,781,692 | ¥ 12,276,150 | ¥ 10,934,878 |
Gains (losses) arising during the period, before tax | 304,252 | 404,292 | 86,842 |
At end of period | 13,536,965 | 12,781,692 | 12,276,150 |
Own credit on financial liabilities designated at fair value through profit or loss reserve [Member] | |||
At beginning of period | 520 | (3,455) | 0 |
Gains (losses) arising during the period, before tax | 12,847 | 5,729 | (4,981) |
Income tax (expense) benefit for changes arising during the period | (3,934) | (1,754) | 1,526 |
At end of period | ¥ 9,433 | ¥ 520 | ¥ (3,455) |
Equity Attributable To Other _3
Equity Attributable To Other Equity Instruments Holders - Equity Attributable to Other Equity Instruments Holders (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Statement [Line Items] | ||
Equity attributable to other equity instruments holders | ¥ 765,802 | ¥ 733,611 |
Perpetual Subordinated Bonds [Member] | ||
Statement [Line Items] | ||
Perpetual subordinated bonds | 755,802 | 733,611 |
Perpetual Subordinated Borrowings [Member] | ||
Statement [Line Items] | ||
Perpetual subordinated bonds | ¥ 10,000 | ¥ 0 |
Equity Attributable To Other _4
Equity Attributable To Other Equity Instruments Holders - Additional Information (Detail) | Mar. 31, 2023 |
Equity [abstract] | |
Common Equity Tier 1 capital ratio threshold where bonds may be written down | 5.125% |
Net Interest Income - Summary o
Net Interest Income - Summary of Net Interest Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Interest income from: | |||
Deposits with banks | ¥ 309,704 | ¥ 20,044 | ¥ 17,411 |
Call loans and bills bought | 75,923 | 13,898 | 11,091 |
Reverse repurchase agreements and cash collateral on securities borrowed | 54,693 | 6,633 | 14,148 |
Investment securities | 218,011 | 123,194 | 126,639 |
Loans and advances | 3,037,745 | 1,583,885 | 1,611,081 |
Total interest income | 3,696,076 | 1,747,654 | 1,780,370 |
Interest expense from: | |||
Deposits | 1,068,750 | 101,991 | 179,910 |
Call money and bills sold | 18,246 | 1,259 | 1,755 |
Repurchase agreements and cash collateral on securities lent | 280,945 | 5,767 | 7,131 |
Borrowings | 126,122 | 49,282 | 62,624 |
Debt securities in issue | 373,313 | 106,505 | 109,205 |
Premiums for deposit insurance | 22,915 | 37,970 | 35,813 |
Others | 50,715 | 942 | 807 |
Total interest expense | 1,941,006 | 303,716 | 397,245 |
Net interest income | ¥ 1,755,070 | ¥ 1,443,938 | ¥ 1,383,125 |
Net Fee and Commission Income -
Net Fee and Commission Income - Summary of Net Fee and Commission Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Fee and commission income from: | |||
Loans | ¥ 145,078 | ¥ 128,583 | ¥ 132,523 |
Credit card business | 380,345 | 333,109 | 304,787 |
Guarantees | 71,612 | 66,199 | 64,422 |
Securities-related business | 119,403 | 169,719 | 169,251 |
Deposits | 18,230 | 16,302 | 14,763 |
Remittances and transfers | 146,507 | 139,122 | 138,907 |
Safe deposits | 4,228 | 4,025 | 4,160 |
Trust fees | 6,753 | 5,940 | 4,885 |
Investment trusts | 144,940 | 183,164 | 163,522 |
Agency | 9,368 | 8,854 | 8,442 |
Others | 216,270 | 193,208 | 168,720 |
Total fee and commission income | 1,262,734 | 1,248,225 | 1,174,382 |
Fee and commission expense from: | |||
Remittances and transfers | 28,885 | 32,604 | 39,417 |
Others | 194,035 | 177,158 | 162,306 |
Total fee and commission expense | 222,920 | 209,762 | 201,723 |
Net fee and commission income | ¥ 1,039,814 | ¥ 1,038,463 | ¥ 972,659 |
Net Trading Income - Summary of
Net Trading Income - Summary of Net Trading Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Trading income (expense) [abstract] | |||
Interest rate | ¥ 351,815 | ¥ 74,828 | ¥ 38,987 |
Foreign exchange | 317,203 | 186,146 | 168,462 |
Equity | (40,691) | 22,216 | 34,772 |
Credit | (3,902) | (1,812) | (4,723) |
Others | 1,618 | (1,039) | 248 |
Total net trading income | ¥ 626,043 | ¥ 280,339 | ¥ 237,746 |
Net Income From Financial Ass_3
Net Income From Financial Assets And Liabilities At Fair Value Through Profit Or Loss - Summary of Net Income from Financial Assets at Fair Value Through Profit or Loss (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Net income from financial assets mandatorily at fair value through profit or loss: | |||
Net income (loss) from financial liabilities designated at fair value through profit or loss | ¥ 56,581 | ¥ 38,432 | ¥ (6,071) |
Total net income from financial assets and liabilities at fair value through profit or loss | 173,311 | 200,249 | 280,012 |
Debt instruments [member] | |||
Net income from financial assets mandatorily at fair value through profit or loss: | |||
Net income from financial assets mandatorily at fair value through profit or loss | 115,291 | 156,792 | 262,396 |
Equity instruments [member] | |||
Net income from financial assets mandatorily at fair value through profit or loss: | |||
Net income from financial assets mandatorily at fair value through profit or loss | ¥ 1,439 | ¥ 5,025 | ¥ 23,687 |
Net Investment Income - Summary
Net Investment Income - Summary of Net Investment Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Dividend income | ¥ 104,761 | ¥ 95,290 | ¥ 74,109 |
Total net investment income | 15,611 | 65,744 | 153,820 |
Debt instruments [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net gain (loss) from disposal of debt instruments | ¥ (89,150) | ¥ (29,546) | ¥ 79,711 |
Net Investment Income - Additio
Net Investment Income - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Material income and expense [abstract] | |||
Dividend income from equity instruments at fair value through other comprehensive income derecognized | ¥ 1,150 | ¥ 1,805 | ¥ 1,027 |
Other Income - Summary of Other
Other Income - Summary of Other Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Material income [abstract] | |||
Income from operating leases | ¥ 39,654 | ¥ 32,733 | ¥ 34,426 |
Income related to disposal of assets leased | 29 | 1,233 | |
Income related to IT solution services | 11,889 | 11,428 | 12,836 |
Gains on disposal of property, plant and equipment, and other intangible assets | 3,326 | 1,708 | 3,035 |
Reversal of impairment losses of investments in associates and joint ventures | 22,915 | 2,059 | 9,930 |
Gains on step acquisition of subsidiaries | 405 | ||
Others | 103,043 | 60,770 | 76,358 |
Total other income | ¥ 180,827 | ¥ 108,727 | ¥ 138,223 |
Impairment Charges on Financi_3
Impairment Charges on Financial Assets - Summary of Impairment Charges (Reversals) on Financial Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Impairment charges on financial assets | ¥ 148,464 | ¥ 279,978 | ¥ 282,486 |
Loans and advances [member] | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Impairment charges on financial assets | 138,176 | 269,060 | 277,085 |
Loan commitments [member] | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Impairment charges on financial assets | 8,016 | 9,555 | 12,729 |
Financial guarantees [member] | |||
Disclosure of impairment loss and reversal of impairment loss [line items] | |||
Impairment charges on financial assets | ¥ 2,272 | ¥ 1,363 | ¥ (7,328) |
General and Administrative Ex_3
General and Administrative Expenses - Summary of General and Administrative Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Material expense [abstract] | |||
Personnel expenses | ¥ 922,452 | ¥ 834,512 | ¥ 770,769 |
Depreciation and amortization | 262,702 | 264,290 | 255,702 |
Building and maintenance expenses | 7,847 | 9,979 | 8,593 |
Supplies expenses | 14,571 | 15,468 | 15,191 |
Communication expenses | 31,182 | 32,839 | 33,454 |
Publicity and advertising expenses | 143,500 | 126,090 | 89,924 |
Taxes and dues | 84,020 | 82,293 | 83,554 |
Outsourcing expenses | 123,293 | 115,157 | 111,737 |
Office equipment expenses | 70,151 | 61,503 | 56,389 |
Others | 305,699 | 259,490 | 253,802 |
Total general and administrative expenses | ¥ 1,965,417 | ¥ 1,801,621 | ¥ 1,679,115 |
Other Expenses - Summary of Oth
Other Expenses - Summary of Other Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of associates [line items] | |||
Cost of operating leases | ¥ 30,281 | ¥ 22,922 | ¥ 23,225 |
Cost related to disposal of assets leased | 3,212 | 301 | |
Cost related to IT solution services and IT systems | 94,071 | 89,762 | 84,691 |
Provision for interest repayment | 28,818 | 31,596 | 38,344 |
Losses on disposal of property, plant and equipment, and other intangible assets | 6,377 | 3,856 | 3,725 |
Impairment losses of property, plant and equipment | 31,617 | 43,708 | 10,959 |
Impairment losses of intangible assets | 135,519 | 55,816 | 42,846 |
Losses on sale of investments in subsidiaries and associates | 8,216 | 680 | |
Impairment losses of investments in associates and joint ventures | 56,461 | 42,460 | 12,537 |
Others | 107,775 | 78,138 | 66,872 |
Total other expenses | 502,347 | 368,559 | 283,879 |
The Bank of East Asia, Limited [member] | |||
Disclosure of associates [line items] | |||
Impairment Loss Recognized In Profit Or Loss Investments In Associates And Joint Ventures | ¥ 33,932 | ¥ 42,218 | ¥ 10,391 |
Income Tax Expense - Detail of
Income Tax Expense - Detail of Income Tax Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Current tax: | |||
Charge for period | ¥ 184,662 | ¥ 190,842 | ¥ 207,742 |
Deferred tax: | |||
Origination and reversal of temporary differences | 146,130 | (25,248) | 48,295 |
Change in the write-down of deferred tax assets on the current fiscal year income tax expense | (4,765) | (4,205) | (4,635) |
Total deferred tax expense (benefit) | 141,365 | (29,453) | 43,660 |
Total income tax expense | ¥ 326,027 | ¥ 161,389 | ¥ 251,402 |
Income Tax Expense - Detail o_2
Income Tax Expense - Detail of Income Tax Expense (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of Income Taxes [Line Items] | |||
Current income tax expense (benefit) | ¥ 184,662 | ¥ 190,842 | ¥ 207,742 |
IFRS 9 [member] | |||
Disclosure of Income Taxes [Line Items] | |||
Current income tax expense (benefit) | ¥ 39,837 | ¥ 44,110 | ¥ 13,851 |
Income Tax Expense - Reconcilia
Income Tax Expense - Reconciliations of Effective Income Tax Rates (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Profit before tax | ¥ 1,261,876 | ¥ 676,464 | ¥ 956,478 |
Income tax expense | ¥ 326,027 | ¥ 161,389 | ¥ 251,402 |
Effective income tax rate | 25.80% | 23.90% | 26.30% |
Effective statutory tax rate in Japan | 30.60% | 30.60% | 30.60% |
Tax impact of share of post-tax profit in associates and joint ventures | (2.10%) | 0.50% | (1.20%) |
Non-Japanese earnings | (1.30%) | (2.20%) | (1.60%) |
Tax impact of impairment losses of goodwill | 0.90% | 1.40% | |
Tax impact of impairment losses and reversal of impairment losses for investments in associates and joint ventures—net | 0.80% | (4.50%) | 0.10% |
Nontaxable dividends received | (0.80%) | (1.30%) | (0.70%) |
Effect of the change in the write-down of deferred tax assets on the current fiscal year income tax expense | (0.40%) | (0.60%) | (0.50%) |
Others—net | (1.90%) | 1.40% | (1.80%) |
Effective income tax rate | 25.80% | 23.90% | 26.30% |
Income Tax Expense - Reconcil_2
Income Tax Expense - Reconciliations of Effective Income Tax Rates (Parenthetical) (Detail) | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Reconciliation of effective tax rate [Line Items] | |||
Effective tax rate | 30.60% | 30.60% | 30.60% |
Effective corporation tax rate [member] | |||
Reconciliation of effective tax rate [Line Items] | |||
Effective tax rate | 23.20% | 23.20% | 23.20% |
Effective local corporation tax rate [member] | |||
Reconciliation of effective tax rate [Line Items] | |||
Effective tax rate | 2.40% | 2.40% | 2.40% |
Effective inhabitant tax rate [member] | |||
Reconciliation of effective tax rate [Line Items] | |||
Effective tax rate | 2.40% | 2.40% | 2.40% |
Effective enterprise tax rate [member] | |||
Reconciliation of effective tax rate [Line Items] | |||
Effective tax rate | 2.60% | 2.60% | 2.60% |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Basic: | |||
Profit attributable to shareholders of the Company | ¥ 911,831 | ¥ 499,573 | ¥ 687,483 |
Weighted average number of common stock in issue (in thousands of shares) | 1,364,770 | 1,370,738 | 1,370,214 |
Basic earnings per share | ¥ 668.12 | ¥ 364.46 | ¥ 501.73 |
Diluted: | |||
Profit attributable to the common shareholders of the Company | ¥ 911,831 | ¥ 499,573 | ¥ 687,483 |
Impact of dilutive potential ordinary shares issued by subsidiaries | |||
Net profit used to determine diluted earnings per share | ¥ 911,831 | ¥ 499,573 | ¥ 687,483 |
Weighted average number of common stock in issue (in thousands of shares) | 1,364,770 | 1,370,738 | 1,370,214 |
Adjustments for stock options (in thousands of shares) | 463 | 561 | 658 |
Weighted average number of common stock for diluted earnings per share (in thousands of shares) | 1,365,233 | 1,371,299 | 1,370,872 |
Diluted earnings per share | ¥ 667.89 | ¥ 364.31 | ¥ 501.49 |
Transfers of Financial Assets -
Transfers of Financial Assets - Carrying Amounts and Fair Values of Transferred Financial Assets that did not Qualify for Derecognition and Associated Financial Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Repurchase agreements and securities lending transactions [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [Line Items] | ||
Carrying amount of assets | ¥ 14,250,991 | ¥ 13,217,653 |
Carrying amount of associated liabilities | 11,094,932 | 10,842,730 |
Loans and advances [member] | Residential mortgages [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [Line Items] | ||
Carrying amount of assets | 1,539,886 | 1,517,316 |
Carrying amount of associated liabilities | 1,208,993 | 1,196,264 |
For those liabilities that have recourse only to the transferred assets: | ||
Fair value of assets | 1,629,544 | 1,696,689 |
Fair value of associated liabilities | 1,205,124 | 1,241,195 |
Net position | 424,420 | 455,494 |
Loans and advances [member] | Corporate loans [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [Line Items] | ||
Carrying amount of assets | 938,289 | 874,174 |
Carrying amount of associated liabilities | 873,240 | 807,532 |
For those liabilities that have recourse only to the transferred assets: | ||
Fair value of assets | 942,644 | 877,258 |
Fair value of associated liabilities | 873,240 | 807,532 |
Net position | ¥ 69,404 | ¥ 69,726 |
Assets Pledged and Received a_3
Assets Pledged and Received as Collateral - Carrying Amounts of Assets Pledged as Collateral (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | ¥ 36,370,195 | ¥ 39,620,929 |
Cash and deposits with banks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 28,436 | 201,859 |
Trading assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 2,631,213 | 2,333,497 |
Debt instruments at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 94,849 | 22,300 |
Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 17,817,319 | 22,873,692 |
Equity instruments at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 4,512 | 5,334 |
Loans and advances [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | 12,502,342 | 11,223,871 |
Others [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amounts of assets pledged as collateral | ¥ 3,291,524 | ¥ 2,960,376 |
Assets Pledged and Received a_4
Assets Pledged and Received as Collateral - Additional information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about financial instruments [abstract] | ||
Loaned securities for which the borrowers have the right to sell or repledge | ¥ 14,260,889 | ¥ 13,243,816 |
Fair value of securities and bills accepted as collateral | 16,259,185 | 16,777,657 |
Fair value of securities sold or repledged to others | ¥ 10,932,766 | ¥ 12,023,020 |
Share-based Payment - Significa
Share-based Payment - Significant Terms and Conditions of Stock Option Plan (Detail) - SMFG stock acquisition rights [member] | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Title of grantees | Directors, corporate auditors and executive officers of SMFG and SMBC |
Exercise period | Not exceeding 30 years from the date of allocation of stock acquisition rights |
Requisite service period | One year from the date of the ordinary general meeting of shareholders of SMFG to the closing of the next ordinary general meeting of shareholders of SMFG |
Method of settlement | Common stock of SMFG |
Share-based Payment - Signifi_2
Share-based Payment - Significant Terms and Conditions of Stock Option Plan (Parenthetical) (Detail) - Maximum [member] | 12 Months Ended |
Mar. 31, 2023 yr | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Term of options granted for director, a corporate auditor or an executive officer | 30 |
Term of options granted for director, a corporate auditor or an executive officer who are relieved of their positions | 20 years |
Share-based Payment - Number an
Share-based Payment - Number and Weighted Average Exercise Prices of Stock Options (Detail) - SMFG stock acquisition rights [member] | 12 Months Ended | |
Mar. 31, 2023 ¥ / shares | Mar. 31, 2022 ¥ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Number of options, Outstanding at beginning of period | 537,900 | 634,700 |
Number of options, Exercised | (110,100) | (96,800) |
Number of options, Outstanding at end of period | 427,800 | 537,900 |
Number of options, Exercisable at end of period | 296,200 | 332,200 |
Weighted average exercise price, Outstanding at beginning of period | ¥ 1 | ¥ 1 |
Weighted average exercise price, Exercised | 1 | 1 |
Weighted average exercise price, Outstanding at end of period | 1 | 1 |
Weighted average exercise price, Exercisable at end of period | ¥ 1 | ¥ 1 |
Share-based Payment - Additiona
Share-based Payment - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 JPY (¥) shares ¥ / shares | Mar. 31, 2022 JPY (¥) ¥ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | ||
Number of options, issued | shares | 0 | |
Restricted stock unit Vesting Period In Share Based Payment Arrangement | 30 years | |
Restricted shares recognized as expenses | ¥ | ¥ 1,438 | ¥ 1,296 |
Weighted average stock price at the date of exercise | ¥ / shares | ¥ 4,250 | ¥ 3,886 |
Share-based Payment - Summarize
Share-based Payment - Summarized Information about Stock Options Outstanding (Detail) - SMFG stock acquisition rights [member] | 12 Months Ended | ||
Mar. 31, 2023 $ / shares | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||
Exercise price | $ 1 | ||
Number of options | 427,800 | 537,900 | 634,700 |
Remaining contractual lives in years | 20 years 1 month 6 days | 21 years 3 months 18 days |
Share-based Payment - Summary o
Share-based Payment - Summary of Restricted Share (Detail) - Restricted Shares [member] | 12 Months Ended | |
Mar. 31, 2023 JPY (¥) | Mar. 31, 2022 JPY (¥) | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Outstanding at beginning of period | 1,399,680 | 1,266,013 |
Allotted | 329,092 | 322,041 |
Released | (221,673) | (179,557) |
Forfeited | (8,817) | |
Outstanding at end of period | 1,507,099 | 1,399,680 |
Fair value at measurement date | ¥ 4,004 | ¥ 3,749 |
Dividends Per Share - Summary o
Dividends Per Share - Summary of Dividend Per Share (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Aggregate amount | ¥ 304,254 | ¥ 274,756 | ¥ 268,389 |
Sumitomo mitsui banking corporation [member] | |||
Dividends per share | ¥ 220 | ¥ 200 | ¥ 195 |
Aggregate amount | ¥ 301,627 | ¥ 274,127 | ¥ 267,144 |
Dividends Per Share - Additiona
Dividends Per Share - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions | 12 Months Ended |
Mar. 31, 2023 JPY (¥) ¥ / shares | |
Dividends 1 [abstract] | |
Proposed dividend, per share | ¥ / shares | ¥ 125 |
Proposed dividend, total | ¥ | ¥ 168,078 |
Contingency and Capital Commi_3
Contingency and Capital Commitments - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Statement [Line Items] | ||
Contractual commitments to acquire property, plant and equipment | ¥ 1,134 | ¥ 6,587 |
Contractual commitments to acquire intangible assets | 631 | |
SMBC Nikko Securities Inc. [member] | Other Current Liability [Member] | ||
Statement [Line Items] | ||
Fines payable value | 4,471 | |
Forfeit payable | ¥ 700 |
Contingency and Capital Commi_4
Contingency and Capital Commitments - Nominal Amounts of Undrawn Loan Commitments and Financial Guarantees and Other Credit-Related Contingent Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of contingent liabilities [Line Items] | ||
Nominal amounts | ¥ 339,156,626 | ¥ 322,705,361 |
Loan commitments [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Nominal amounts | 79,068,816 | 73,246,384 |
Financial guarantees and other credit-related contingent liabilities [Member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Nominal amounts | 13,693,772 | 11,722,240 |
Loan commitments and financial guarantees and other credit-related contingent liabilities [Member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Nominal amounts | ¥ 92,762,588 | ¥ 84,968,624 |
Analysis of Financial Assets _3
Analysis of Financial Assets and Liabilities by Measurement Basis - Carrying Amounts of Financial Assets and Liabilities by Category and Line Item (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Financial assets: | |||
Cash and deposits with banks | ¥ 76,465,511 | ¥ 75,697,521 | ¥ 73,090,816 |
Call loans and bills bought | 5,684,812 | 1,965,135 | |
Reverse repurchase agreements and cash collateral on securities borrowed | 11,024,084 | 11,303,930 | |
Trading assets | 4,585,915 | 3,736,296 | |
Derivative financial instruments | 8,649,947 | 6,443,748 | |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 | |
Investment securities | 27,595,598 | 32,749,405 | |
Loans and advances | 111,891,134 | 104,635,815 | |
Other financial assets | 5,360,634 | 5,309,839 | |
Total | 252,745,874 | 243,537,274 | |
Financial liabilities: | |||
Deposits | 172,927,810 | 162,593,492 | |
Call money and bills sold | 2,569,056 | 1,130,000 | |
Repurchase agreements and cash collateral on securities lent | 17,786,026 | 20,113,162 | |
Trading liabilities | 3,291,089 | 3,181,992 | |
Derivative financial instruments | 10,496,855 | 6,966,336 | |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 | |
Borrowings | 15,371,801 | 20,584,651 | |
Debt securities in issue | 11,984,994 | 11,428,437 | |
Other financial liabilities | 8,522,212 | 7,809,677 | |
Total | 243,363,949 | 234,263,481 | |
Financial Assets and Liabilities at fair value through profit or loss [member] | |||
Financial assets: | |||
Trading assets | 4,585,915 | 3,736,296 | |
Derivative financial instruments | 8,649,947 | 6,443,748 | |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 | |
Total | 14,724,101 | 11,875,629 | |
Financial liabilities: | |||
Deposits | (12,641) | (8,569) | |
Trading liabilities | 3,291,089 | 3,181,992 | |
Derivative financial instruments | 10,496,855 | 6,966,336 | |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 | |
Borrowings | (822) | (138) | |
Debt securities in issue | 1,525 | 5,721 | |
Other financial liabilities | 851 | ||
Total | 14,190,112 | 10,601,927 | |
Financial Assets and Liabilities at Amortized Cost [member] | |||
Financial assets: | |||
Cash and deposits with banks | 76,465,511 | 75,697,521 | |
Call loans and bills bought | 5,684,812 | 1,965,135 | |
Reverse repurchase agreements and cash collateral on securities borrowed | 11,024,084 | 11,303,930 | |
Investment securities | 235,567 | 83,954 | |
Loans and advances | 111,891,134 | 104,635,815 | |
Other financial assets | 5,360,634 | 5,309,839 | |
Total | 210,661,742 | 198,996,194 | |
Financial liabilities: | |||
Deposits | 172,940,451 | 162,602,061 | |
Call money and bills sold | 2,569,056 | 1,130,000 | |
Repurchase agreements and cash collateral on securities lent | 17,786,026 | 20,113,162 | |
Borrowings | 15,372,623 | 20,584,789 | |
Debt securities in issue | 11,983,469 | 11,422,716 | |
Other financial liabilities | 8,522,212 | 7,808,826 | |
Total | 229,173,837 | 223,661,554 | |
Debt instruments at fair value through other comprehensive income [member] | |||
Financial assets: | |||
Investment securities | 22,811,423 | 28,066,966 | |
Total | 22,811,423 | 28,066,966 | |
Equity instruments at fair value through other comprehensive income [member] | |||
Financial assets: | |||
Investment securities | 4,548,608 | 4,598,485 | |
Total | ¥ 4,548,608 | ¥ 4,598,485 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities - Carrying Amounts of Financial Assets and Liabilities Carried at Fair Value (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Financial assets: | ||
Trading assets | ¥ 4,585,915 | ¥ 3,736,296 |
Derivative financial instruments | 8,649,947 | 6,443,748 |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 |
Debt instruments | 22,811,423 | 28,066,966 |
Total | 252,745,874 | 243,537,274 |
Financial liabilities: | ||
Trading liabilities | 3,291,089 | 3,181,992 |
Derivative financial instruments | 10,496,855 | 6,966,336 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
Total | 243,363,949 | 234,263,481 |
At fair value [member] | ||
Financial assets: | ||
Trading assets | 4,585,915 | 3,736,296 |
Derivative financial instruments | 8,649,947 | 6,443,748 |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 |
Debt instruments | 22,811,423 | 28,066,966 |
Investment securities at fair value through other comprehensive income | 27,360,031 | 32,665,451 |
Total | 42,084,132 | 44,541,080 |
Financial liabilities: | ||
Trading liabilities | 3,291,089 | 3,181,992 |
Derivative financial instruments | 10,496,855 | 6,966,336 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
Others | (11,938) | (2,135) |
Total | 14,190,112 | 10,601,927 |
At fair value [member] | Level 1 [member] | ||
Financial assets: | ||
Trading assets | 4,072,916 | 3,105,401 |
Derivative financial instruments | 151,848 | 688,580 |
Financial assets at fair value through profit or loss | 346,368 | 518,830 |
Debt instruments | 16,312,611 | 22,834,866 |
Investment securities at fair value through other comprehensive income | 20,389,221 | 26,952,698 |
Total | 24,960,353 | 31,265,509 |
Financial liabilities: | ||
Trading liabilities | 3,201,207 | 3,050,304 |
Derivative financial instruments | 127,838 | 363,620 |
Total | 3,329,045 | 3,413,924 |
At fair value [member] | Level 2 [member] | ||
Financial assets: | ||
Trading assets | 512,999 | 630,895 |
Derivative financial instruments | 8,476,307 | 5,721,758 |
Financial assets at fair value through profit or loss | 406,203 | 447,858 |
Debt instruments | 6,498,812 | 5,232,100 |
Investment securities at fair value through other comprehensive income | 6,505,989 | 5,244,040 |
Total | 15,901,498 | 12,044,551 |
Financial liabilities: | ||
Trading liabilities | 89,882 | 131,688 |
Derivative financial instruments | 10,353,385 | 6,579,701 |
Financial liabilities designated at fair value through profit or loss | 229,086 | 164,648 |
Others | (4,086) | 917 |
Total | 10,668,267 | 6,876,954 |
At fair value [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 21,792 | 33,410 |
Financial assets at fair value through profit or loss | 735,668 | 728,897 |
Investment securities at fair value through other comprehensive income | 464,821 | 468,713 |
Total | 1,222,281 | 1,231,020 |
Financial liabilities: | ||
Derivative financial instruments | 15,632 | 23,015 |
Financial liabilities designated at fair value through profit or loss | 185,020 | 291,086 |
Others | (7,852) | (3,052) |
Total | 192,800 | 311,049 |
At fair value [member] | Debt instruments [member] | ||
Financial assets: | ||
Trading assets | 4,229,845 | 3,489,258 |
Financial assets at fair value through profit or loss | 1,392,889 | 1,657,206 |
Debt instruments | 8,002,669 | 6,610,980 |
Financial liabilities: | ||
Trading liabilities | 3,101,433 | 3,152,043 |
At fair value [member] | Debt instruments [member] | Level 1 [member] | ||
Financial assets: | ||
Trading assets | 3,732,551 | 2,860,215 |
Financial assets at fair value through profit or loss | 343,539 | 516,455 |
Debt instruments | 1,503,857 | 1,378,880 |
Financial liabilities: | ||
Trading liabilities | 3,017,272 | 3,026,965 |
At fair value [member] | Debt instruments [member] | Level 2 [member] | ||
Financial assets: | ||
Trading assets | 497,294 | 629,043 |
Financial assets at fair value through profit or loss | 398,883 | 447,738 |
Debt instruments | 6,498,812 | 5,232,100 |
Financial liabilities: | ||
Trading liabilities | 84,161 | 125,078 |
At fair value [member] | Debt instruments [member] | Level 3 [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | 650,467 | 693,013 |
At fair value [member] | Equity instruments [member] | ||
Financial assets: | ||
Trading assets | 356,070 | 247,038 |
Financial liabilities: | ||
Trading liabilities | 189,656 | 29,949 |
At fair value [member] | Equity instruments [member] | Level 1 [member] | ||
Financial assets: | ||
Trading assets | 340,365 | 245,186 |
Financial liabilities: | ||
Trading liabilities | 183,935 | 23,339 |
At fair value [member] | Equity instruments [member] | Level 2 [member] | ||
Financial assets: | ||
Trading assets | 15,705 | 1,852 |
Financial liabilities: | ||
Trading liabilities | 5,721 | 6,610 |
At fair value [member] | Equity instruments [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | 95,350 | 38,379 |
At fair value [member] | Equity instruments [member] | Level 1 [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | 2,829 | 2,375 |
At fair value [member] | Equity instruments [member] | Level 2 [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | 7,320 | 120 |
At fair value [member] | Equity instruments [member] | Level 3 [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | 85,201 | 35,884 |
At fair value [member] | Interest rate derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 5,789,616 | 3,593,943 |
Financial liabilities: | ||
Derivative financial instruments | 7,413,133 | 3,772,664 |
At fair value [member] | Interest rate derivatives [member] | Level 1 [member] | ||
Financial assets: | ||
Derivative financial instruments | 130,725 | 612,246 |
Financial liabilities: | ||
Derivative financial instruments | 92,387 | 218,193 |
At fair value [member] | Interest rate derivatives [member] | Level 2 [member] | ||
Financial assets: | ||
Derivative financial instruments | 5,658,891 | 2,981,691 |
Financial liabilities: | ||
Derivative financial instruments | 7,317,498 | 3,547,303 |
At fair value [member] | Interest rate derivatives [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 6 | |
Financial liabilities: | ||
Derivative financial instruments | 3,248 | 7,168 |
At fair value [member] | Currency derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 2,775,181 | 2,703,985 |
Financial liabilities: | ||
Derivative financial instruments | 3,006,286 | 2,987,531 |
At fair value [member] | Currency derivatives [member] | Level 1 [member] | ||
Financial assets: | ||
Derivative financial instruments | 145 | 101 |
Financial liabilities: | ||
Derivative financial instruments | 204 | |
At fair value [member] | Currency derivatives [member] | Level 2 [member] | ||
Financial assets: | ||
Derivative financial instruments | 2,774,537 | 2,697,933 |
Financial liabilities: | ||
Derivative financial instruments | 3,001,220 | 2,983,028 |
At fair value [member] | Currency derivatives [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 499 | 5,951 |
Financial liabilities: | ||
Derivative financial instruments | 5,066 | 4,299 |
At fair value [member] | Equity derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 54,508 | 102,313 |
Financial liabilities: | ||
Derivative financial instruments | 42,208 | 159,117 |
At fair value [member] | Equity derivatives [member] | Level 1 [member] | ||
Financial assets: | ||
Derivative financial instruments | 20,571 | 74,820 |
Financial liabilities: | ||
Derivative financial instruments | 34,204 | 145,021 |
At fair value [member] | Equity derivatives [member] | Level 2 [member] | ||
Financial assets: | ||
Derivative financial instruments | 13,002 | 689 |
Financial liabilities: | ||
Derivative financial instruments | 894 | 2,676 |
At fair value [member] | Equity derivatives [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 20,935 | 26,804 |
Financial liabilities: | ||
Derivative financial instruments | 7,110 | 11,420 |
At fair value [member] | Commodity derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 9,142 | 21,540 |
Financial liabilities: | ||
Derivative financial instruments | 7,946 | 19,544 |
At fair value [member] | Commodity derivatives [member] | Level 1 [member] | ||
Financial assets: | ||
Derivative financial instruments | 407 | 1,413 |
Financial liabilities: | ||
Derivative financial instruments | 1,247 | 202 |
At fair value [member] | Commodity derivatives [member] | Level 2 [member] | ||
Financial assets: | ||
Derivative financial instruments | 8,735 | 20,127 |
Financial liabilities: | ||
Derivative financial instruments | 6,699 | 19,342 |
At fair value [member] | Credit derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 21,500 | 21,967 |
Financial liabilities: | ||
Derivative financial instruments | 27,282 | 27,480 |
At fair value [member] | Credit derivatives [member] | Level 2 [member] | ||
Financial assets: | ||
Derivative financial instruments | 21,142 | 21,318 |
Financial liabilities: | ||
Derivative financial instruments | 27,074 | 27,352 |
At fair value [member] | Credit derivatives [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 358 | 649 |
Financial liabilities: | ||
Derivative financial instruments | 208 | 128 |
At fair value [member] | Japanese government bonds [member] | ||
Financial assets: | ||
Debt instruments | 9,576,298 | 15,774,197 |
At fair value [member] | Japanese government bonds [member] | Level 1 [member] | ||
Financial assets: | ||
Debt instruments | 9,576,298 | 15,774,197 |
At fair value [member] | U.S. Treasury and other U.S. government agency bonds [member] | ||
Financial assets: | ||
Debt instruments | 5,232,456 | 5,681,789 |
At fair value [member] | U.S. Treasury and other U.S. government agency bonds [member] | Level 1 [member] | ||
Financial assets: | ||
Debt instruments | 5,232,456 | 5,681,789 |
At fair value [member] | Investment securities [member] | ||
Financial assets: | ||
Debt instruments | 4,548,608 | 4,598,485 |
At fair value [member] | Investment securities [member] | Level 1 [member] | ||
Financial assets: | ||
Debt instruments | 4,076,610 | 4,117,832 |
At fair value [member] | Investment securities [member] | Level 2 [member] | ||
Financial assets: | ||
Debt instruments | 7,177 | 11,940 |
At fair value [member] | Investment securities [member] | Level 3 [member] | ||
Financial assets: | ||
Debt instruments | ¥ 464,821 | ¥ 468,713 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities - Reconciliations for Financial Assets and Liabilities Carried at Fair Value (Detail) - At fair value [member] - Level 3 [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | ¥ 919,971 | ¥ 873,801 |
Total gains (losses), Included in profit or loss | (13,005) | 141,755 |
Total gains (losses), Included in other comprehensive income | 11,295 | 21,845 |
Purchases | 215,995 | 230,009 |
Sales | (70,414) | (107,603) |
Issuances | (56,316) | (391,051) |
Settlement | 109,726 | 150,516 |
Transfers into Level 3 | 12 | |
Transfers out of Level 3 | (87,783) | 699 |
Ending balance | 1,029,481 | 919,971 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | 24,305 | 142,828 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (291,086) | (166,896) |
Total gains (losses), Included in profit or loss | (20,742) | 44,122 |
Total gains (losses), Included in other comprehensive income | 2,129 | 2,057 |
Issuances | (56,316) | (391,051) |
Settlement | 180,995 | 215,304 |
Transfers out of Level 3 | 5,378 | |
Ending balance | (185,020) | (291,086) |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | 13,496 | 44,898 |
Derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 10,395 | (31) |
Total gains (losses), Included in profit or loss | 430 | 11,595 |
Total gains (losses), Included in other comprehensive income | 12 | |
Purchases | 6,149 | 9,247 |
Sales | (10,166) | (9,736) |
Settlement | (610) | |
Transfers out of Level 3 | (648) | (82) |
Ending balance | 6,160 | 10,395 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | 4,192 | 15,037 |
Derivatives [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (7,162) | (3,588) |
Total gains (losses), Included in profit or loss | (1,514) | (3,759) |
Purchases | 554 | 316 |
Transfers out of Level 3 | 4,874 | (131) |
Ending balance | (3,248) | (7,162) |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | (959) | (3,473) |
Derivatives [member] | Currency derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 1,652 | (5,341) |
Total gains (losses), Included in profit or loss | (697) | 6,944 |
Transfers out of Level 3 | (5,522) | 49 |
Ending balance | (4,567) | 1,652 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | (2,302) | 6,314 |
Derivatives [member] | Equity derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 15,384 | 7,132 |
Total gains (losses), Included in profit or loss | 3,012 | 9,057 |
Purchases | 5,595 | 8,931 |
Sales | (10,166) | (9,736) |
Ending balance | 13,825 | 15,384 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | 7,693 | 12,567 |
Derivatives [member] | Credit derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 521 | 1,766 |
Total gains (losses), Included in profit or loss | (371) | (647) |
Total gains (losses), Included in other comprehensive income | 12 | |
Settlement | (610) | |
Ending balance | 150 | 521 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | (240) | (371) |
Financial assets at fair value through profit or loss [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 728,897 | 594,227 |
Total gains (losses), Included in profit or loss | 1,229 | 81,104 |
Total gains (losses), Included in other comprehensive income | 301 | 207 |
Purchases | 203,526 | 167,003 |
Sales | (42,670) | (52,261) |
Settlement | (70,698) | (57,565) |
Transfers out of Level 3 | (84,917) | (3,818) |
Ending balance | 735,668 | 728,897 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | (1,054) | 77,548 |
Financial assets at fair value through profit or loss [member] | Debt instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 693,013 | 561,450 |
Total gains (losses), Included in profit or loss | (4,804) | 81,856 |
Total gains (losses), Included in other comprehensive income | 301 | 207 |
Purchases | 157,152 | 155,295 |
Sales | (42,145) | (49,939) |
Settlement | (69,317) | (53,086) |
Transfers out of Level 3 | (83,733) | (2,770) |
Ending balance | 650,467 | 693,013 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | (6,742) | 79,696 |
Financial assets at fair value through profit or loss [member] | Equity instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 35,884 | 32,777 |
Total gains (losses), Included in profit or loss | 6,033 | (752) |
Purchases | 46,374 | 11,708 |
Sales | (525) | (2,322) |
Settlement | (1,381) | (4,479) |
Transfers out of Level 3 | (1,184) | (1,048) |
Ending balance | 85,201 | 35,884 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | 5,688 | (2,148) |
Financial assets at fair value through other comprehensive income, category [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 468,713 | 447,605 |
Total gains (losses), Included in other comprehensive income | 8,865 | 19,569 |
Purchases | 5,380 | 53,759 |
Sales | (17,578) | (45,606) |
Settlement | (571) | (6,613) |
Transfers into Level 3 | 12 | |
Transfers out of Level 3 | (1) | |
Ending balance | 464,821 | 468,713 |
Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 468,713 | 447,605 |
Total gains (losses), Included in other comprehensive income | 8,865 | 19,569 |
Purchases | 5,380 | 53,759 |
Sales | (17,578) | (45,606) |
Settlement | (571) | (6,613) |
Transfers into Level 3 | 12 | |
Transfers out of Level 3 | (1) | |
Ending balance | 464,821 | 468,713 |
Others-liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 3,052 | (1,104) |
Total gains (losses), Included in profit or loss | 6,078 | 4,934 |
Purchases | 940 | |
Transfers out of Level 3 | (2,218) | (778) |
Ending balance | 7,852 | 3,052 |
Changes in unrealized gains (losses) included in profit or loss related to assets and liabilities held at ending balance | ¥ 7,671 | ¥ 5,345 |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities - Reconciliations for Financial Assets and Liabilities Carried at Fair Value (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Transfers out of Level 3 | ¥ 87,783 | ¥ (699) |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities - Total and Changes in Unrealized Gains or Losses Included in Profit or Loss for Level 3 Financial Assets and Liabilities (Detail) - At fair value [member] - Level 3 [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Total gains (losses) included in profit or loss | ¥ (13,005) | ¥ 141,755 |
Changes in unrealized gains(losses) included in profit or loss related to assets and liabilities held | 24,305 | 142,828 |
Net interest income [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total gains (losses) included in profit or loss | 1,478 | 3,757 |
Changes in unrealized gains(losses) included in profit or loss related to assets and liabilities held | 1,078 | 1,317 |
Net trading income [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total gains (losses) included in profit or loss | 5,119 | 12,578 |
Changes in unrealized gains(losses) included in profit or loss related to assets and liabilities held | 10,785 | 18,871 |
Net income (loss) from financial assets and liabilities at fair value through profit or loss [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total gains (losses) included in profit or loss | (19,513) | 125,226 |
Changes in unrealized gains(losses) included in profit or loss related to assets and liabilities held | 12,442 | 122,446 |
Other income (expenses) [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total gains (losses) included in profit or loss | ¥ (89) | 194 |
Changes in unrealized gains(losses) included in profit or loss related to assets and liabilities held | ¥ 194 |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities - Summary of Aggregate Deferred Day One Profit (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [abstract] | ||
Balance at beginning of period | ¥ 27,100 | ¥ 18,392 |
Increase due to new trades | 18,402 | 32,487 |
Reduction due to redemption, sales or passage of time | (23,226) | (23,779) |
Balance at end of period | ¥ 22,276 | ¥ 27,100 |
Fair Value of Financial Asset_8
Fair Value of Financial Assets and Liabilities - Quantitative Information about Significant Unobservable Inputs Used in Fair Value Measurement for Level 3 Financial Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Financial assets: | ||
Derivative financial instruments | ¥ 8,649,947 | ¥ 6,443,748 |
Financial liabilities: | ||
Derivative financial instruments | 10,496,855 | 6,966,336 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
At fair value [member] | ||
Financial assets: | ||
Derivative financial instruments | 8,649,947 | 6,443,748 |
Investment securities at fair value through other comprehensive income | 27,360,031 | 32,665,451 |
Financial liabilities: | ||
Derivative financial instruments | 10,496,855 | 6,966,336 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
Others | (11,938) | (2,135) |
At fair value [member] | Currency derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 2,775,181 | 2,703,985 |
Financial liabilities: | ||
Derivative financial instruments | 3,006,286 | 2,987,531 |
At fair value [member] | Equity derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 54,508 | 102,313 |
Financial liabilities: | ||
Derivative financial instruments | 42,208 | 159,117 |
At fair value [member] | Credit derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 21,500 | 21,967 |
Financial liabilities: | ||
Derivative financial instruments | 27,282 | 27,480 |
At fair value [member] | Level 3 [member] | ||
Financial assets: | ||
Derivative financial instruments | 21,792 | 33,410 |
Investment securities at fair value through other comprehensive income | 464,821 | 468,713 |
Financial liabilities: | ||
Derivative financial instruments | 15,632 | 23,015 |
Financial liabilities designated at fair value through profit or loss | 185,020 | 291,086 |
Others | (7,852) | (3,052) |
At fair value [member] | Level 3 [member] | Financial liabilities at fair value through profit or loss, category [member] | ||
Financial liabilities: | ||
Financial liabilities designated at fair value through profit or loss | 185,020 | 291,086 |
At fair value [member] | Level 3 [member] | Interest Rate Derivatives [Member] | ||
Financial assets: | ||
Derivative financial instruments | 6 | |
Financial liabilities: | ||
Derivative financial instruments | 3,248 | 7,168 |
At fair value [member] | Level 3 [member] | Currency derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 499 | 5,951 |
Financial liabilities: | ||
Derivative financial instruments | 5,066 | 4,299 |
At fair value [member] | Level 3 [member] | Equity derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 20,935 | 26,804 |
Financial liabilities: | ||
Derivative financial instruments | 7,110 | 11,420 |
At fair value [member] | Level 3 [member] | Credit derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | 358 | 649 |
Financial liabilities: | ||
Derivative financial instruments | ¥ 208 | ¥ 128 |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Interest Rate Derivatives [Member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Interest rate to interest rate correlation | 26% | 16% |
Quanto correlation | (11.00%) | 7% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Interest Rate Derivatives [Member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Interest rate to interest rate correlation | 99% | 99% |
Quanto correlation | 42% | 30% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | ¥ 499 | ¥ 5,951 |
Financial liabilities: | ||
Derivative financial instruments | ¥ 5,066 | ¥ 4,299 |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Interest rate to interest rate correlation | 29% | 29% |
Foreign exchange volatility | 12% | 11% |
Quanto correlation | 8% | 7% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Interest rate to interest rate correlation | 99% | 99% |
Foreign exchange volatility | 36% | 39% |
Quanto correlation | 50% | 49% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | Discounted cash flow [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Prepayment Rate | 22% | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Equity derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | ¥ 20,935 | ¥ 26,804 |
Financial liabilities: | ||
Derivative financial instruments | ¥ 7,110 | ¥ 11,420 |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Equity derivatives [member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Volatility | 12% | 17% |
Equity to equity correlation | 48% | 45% |
Quanto correlation | (13.00%) | (16.00%) |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Equity derivatives [member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Volatility | 70% | 79% |
Equity to equity correlation | 92% | 92% |
Quanto correlation | 38% | 35% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Credit derivatives [member] | ||
Financial assets: | ||
Derivative financial instruments | ¥ 358 | ¥ 649 |
Financial liabilities: | ||
Derivative financial instruments | ¥ 208 | ¥ 128 |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Credit derivatives [member] | Credit default model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 15% | 15% |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Credit derivatives [member] | Credit default model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 25% | 25% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | ¥ 650,467 | ¥ 693,013 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Foreign exchange volatility | 13% | 12% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Foreign exchange volatility | 43% | 41% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Monte Carlo simulation model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Volatility | 17% | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Monte Carlo simulation model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Volatility | 38% | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Discounted cash flow [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Discount margin | 5% | |
Probability of default rate | 0% | 0% |
Loss given default rate | 0% | 10% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Discounted cash flow [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Discount margin | 9% | |
Probability of default rate | 33% | 23% |
Loss given default rate | 100% | 100% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | ||
Financial assets: | ||
Financial assets at fair value through profit or loss | ¥ 85,201 | ¥ 35,884 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | Discounted cash flow [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Loss given default rate | 90% | 90% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | Discounted cash flow [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Probability of default rate | 0% | 0% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | Discounted cash flow [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Probability of default rate | 1% | 2% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | Market comparable companies [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Price/Book value multiple | 1.1 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | ||
Financial assets: | ||
Investment securities at fair value through other comprehensive income | ¥ 464,821 | ¥ 468,713 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | Market comparable companies [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Liquidity discount | 20% | 20% |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | Market comparable companies [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Price/Earnings multiple | 9.3 | |
Price/Book value multiple | 0.2 | 0.3 |
EV/EBITDA multiple | 5.8 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | Market comparable companies [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Price/Earnings multiple | 48.5 | |
Price/Book value multiple | 3.7 | 2.2 |
EV/EBITDA multiple | 15.5 | |
At fair value [member] | Level 3 [member] | Financial liabilities designated at fair value through profit or loss [member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Equity to equity correlation | 47% | 43% |
Interest rate to interest rate correlation | 29% | 29% |
Quanto correlation | (13.00%) | (16.00%) |
Volatility | 17% | 13% |
At fair value [member] | Level 3 [member] | Financial liabilities designated at fair value through profit or loss [member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Equity to equity correlation | 93% | 93% |
Interest rate to interest rate correlation | 30% | 30% |
Quanto correlation | 50% | 49% |
Volatility | 52% | 57% |
At fair value [member] | Level 3 [member] | Financial liabilities designated at fair value through profit or loss [member] | Credit default model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 15% | 15% |
At fair value [member] | Level 3 [member] | Financial liabilities designated at fair value through profit or loss [member] | Credit default model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 25% | 25% |
At fair value [member] | Level 3 [member] | Others [member] | ||
Financial liabilities: | ||
Others | ¥ (7,852) | ¥ (3,052) |
At fair value [member] | Level 3 [member] | Others [member] | Option pricing model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Equity to equity correlation | 80% | 57% |
Interest rate to interest rate correlation | 26% | 16% |
Quanto correlation | (11.00%) | 7% |
Volatility | 24% | 17% |
Foreign exchange volatility | 12% | 12% |
At fair value [member] | Level 3 [member] | Others [member] | Option pricing model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Equity to equity correlation | 83% | 93% |
Interest rate to interest rate correlation | 99% | 99% |
Quanto correlation | 50% | 49% |
Volatility | 28% | 49% |
Foreign exchange volatility | 43% | 41% |
At fair value [member] | Level 3 [member] | Others [member] | Credit default model [member] | Minimum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 15% | 15% |
At fair value [member] | Level 3 [member] | Others [member] | Credit default model [member] | Maximum [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement [Abstract] | ||
Quanto correlation | 25% | 90% |
Fair Value of Financial Asset_9
Fair Value of Financial Assets and Liabilities - Impact of Valuation Sensitivity (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Financial assets: | |||
Financial assets at fair value through profit or loss | ¥ 1,488,239 | ¥ 1,695,585 | |
Financial liabilities: | |||
Financial liabilities designated at fair value through profit or loss | (414,106) | (455,734) | |
Others | 8,522,212 | 7,809,677 | |
At fair value [member] | |||
Financial assets: | |||
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 | |
Investment securities at fair value through other comprehensive income | 27,360,031 | 32,665,451 | |
Financial liabilities: | |||
Financial liabilities designated at fair value through profit or loss | (414,106) | (455,734) | |
At fair value [member] | Level 3 [member] | |||
Financial assets: | |||
Derivative financial instruments | 1,029,481 | 919,971 | ¥ 873,801 |
Financial assets at fair value through profit or loss | 735,668 | 728,897 | |
Investment securities at fair value through other comprehensive income | 464,821 | 468,713 | |
Financial liabilities: | |||
Financial liabilities designated at fair value through profit or loss | (185,020) | (291,086) | |
At fair value [member] | Level 3 [member] | Financial liabilities at fair value through profit or loss, category [member] | |||
Financial assets: | |||
Derivative financial instruments | (185,020) | (291,086) | (166,896) |
Financial liabilities: | |||
Financial liabilities designated at fair value through profit or loss | (185,020) | (291,086) | |
At fair value [member] | Level 3 [member] | Financial liabilities at fair value through profit or loss, category [member] | Recorded in profit and loss [member] | |||
Financial liabilities: | |||
Financial liabilities, Favorable changes | 1,007 | 2,008 | |
Financial liabilities, Unfavorable changes | 1,109 | 2,319 | |
At fair value [member] | Level 3 [member] | Debt instruments [member] | |||
Financial assets: | |||
Financial assets at fair value through profit or loss | 650,467 | 693,013 | |
At fair value [member] | Level 3 [member] | Others [member] | |||
Financial liabilities: | |||
Others | 7,852 | 3,052 | |
At fair value [member] | Level 3 [member] | Others [member] | Recorded in profit and loss [member] | |||
Financial liabilities: | |||
Financial liabilities, Favorable changes | 62 | 126 | |
Financial liabilities, Unfavorable changes | 61 | 118 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Interest rate derivatives [member] | |||
Financial assets: | |||
Derivative financial instruments | (3,248) | (7,162) | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | |||
Financial assets: | |||
Derivative financial instruments | (4,567) | 1,652 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Currency derivatives [member] | Recorded in profit and loss [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 6 | 75 | |
Financial assets, Unfavorable changes | 6 | 73 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Equity derivatives [member] | |||
Financial assets: | |||
Derivative financial instruments | 13,825 | 15,384 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Equity derivatives [member] | Recorded in profit and loss [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 2,462 | 3,274 | |
Financial assets, Unfavorable changes | 2,467 | 3,309 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Credit derivatives [member] | |||
Financial assets: | |||
Derivative financial instruments | 150 | 521 | |
At fair value [member] | Level 3 [member] | Derivative financial assets [member] | Credit derivatives [member] | Recorded in profit and loss [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 17 | 17 | |
Financial assets, Unfavorable changes | 17 | 18 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | |||
Financial assets: | |||
Derivative financial instruments | 735,668 | 728,897 | 594,227 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | |||
Financial assets: | |||
Derivative financial instruments | 650,467 | 693,013 | 561,450 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Debt instruments [member] | Recorded in profit and loss [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 917 | 3,347 | |
Financial assets, Unfavorable changes | 4,533 | 7,422 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | |||
Financial assets: | |||
Derivative financial instruments | 85,201 | 35,884 | 32,777 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through profit or loss [member] | Equity instruments [member] | Recorded in profit and loss [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 362 | 88 | |
Financial assets, Unfavorable changes | 875 | 167 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | |||
Financial assets: | |||
Derivative financial instruments | 464,821 | 468,713 | 447,605 |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | |||
Financial assets: | |||
Derivative financial instruments | 464,821 | 468,713 | ¥ 447,605 |
Financial assets at fair value through profit or loss | 85,201 | 35,884 | |
Investment securities at fair value through other comprehensive income | 464,821 | 468,713 | |
At fair value [member] | Level 3 [member] | Financial assets at fair value through other comprehensive income, category [member] | Equity instruments [member] | Recorded in equity [member] | |||
Financial assets: | |||
Financial assets, Favorable changes | 15,368 | 12,914 | |
Financial assets, Unfavorable changes | ¥ 15,368 | ¥ 12,019 |
Fair Value of Financial Asse_10
Fair Value of Financial Assets and Liabilities - Financial Assets and Liabilities Not Carried at Fair Value (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Investment securities: | ||
Debt instruments at amortized cost | ¥ 235,567 | ¥ 83,954 |
Loans and advances | 111,891,134 | 104,635,815 |
Other financial assets | 5,360,634 | 5,309,839 |
Deposits: | ||
Borrowings | 15,371,801 | 20,584,651 |
Debt securities in issue | 11,984,994 | 11,428,437 |
Other financial liabilities | 8,522,212 | 7,809,677 |
Carrying value [member] | ||
Investment securities: | ||
Debt instruments at amortized cost | 235,567 | 83,954 |
Loans and advances | 111,891,134 | 104,635,815 |
Other financial assets | 5,360,634 | 5,309,839 |
Deposits: | ||
Non-interest-bearing deposits, demand deposits and deposits at notice | 123,181,105 | 114,512,622 |
Other deposits | 49,746,705 | 48,080,870 |
Borrowings | 14,954,804 | 20,200,944 |
Debt securities in issue | 11,984,994 | 11,428,437 |
Other financial liabilities | 8,522,212 | 7,808,826 |
Not carried at fair value [member] | ||
Investment securities: | ||
Debt instruments at amortized cost | 235,541 | 83,965 |
Loans and advances | 114,154,110 | 107,177,195 |
Other financial assets | 5,357,987 | 5,307,008 |
Deposits: | ||
Non-interest-bearing deposits, demand deposits and deposits at notice | 123,009,507 | 114,511,759 |
Other deposits | 49,607,234 | 48,074,478 |
Borrowings | 14,876,449 | 20,234,044 |
Debt securities in issue | 11,828,910 | 11,440,260 |
Other financial liabilities | 8,522,110 | 7,808,773 |
Not carried at fair value [member] | Level 1 [member] | ||
Investment securities: | ||
Debt instruments at amortized cost | 165,208 | 25,522 |
Not carried at fair value [member] | Level 2 [member] | ||
Investment securities: | ||
Debt instruments at amortized cost | 70,333 | 58,443 |
Loans and advances | 237,232 | 300,485 |
Other financial assets | 5,307,316 | 5,255,558 |
Deposits: | ||
Non-interest-bearing deposits, demand deposits and deposits at notice | 123,009,507 | 114,511,759 |
Other deposits | 49,481,149 | 47,944,259 |
Borrowings | 14,868,020 | 20,225,380 |
Debt securities in issue | 11,726,142 | 11,321,643 |
Other financial liabilities | 8,387,339 | 7,681,488 |
Not carried at fair value [member] | Level 3 [member] | ||
Investment securities: | ||
Loans and advances | 113,916,878 | 106,876,710 |
Other financial assets | 50,671 | 51,450 |
Deposits: | ||
Other deposits | 126,085 | 130,219 |
Borrowings | 8,429 | 8,664 |
Debt securities in issue | 102,768 | 118,617 |
Other financial liabilities | ¥ 134,771 | ¥ 127,285 |
Offsetting of Financial Asset_3
Offsetting of Financial Assets and Liabilities - Summary of Offsetting of Financial Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of offsetting of financial assets and liabilities [Line Items] | ||
Financial assets, Gross amounts of recognized financial assets and liabilities | ¥ 22,497,755 | ¥ 19,975,629 |
Financial assets, Gross amounts offset in statement of financial position | (2,823,724) | (2,227,951) |
Financial assets, Net amounts presented in statement of financial position | 19,674,031 | 17,747,678 |
Financial assets, Related amounts not offset in statement of financial position, Financial instruments | (16,586,551) | (14,741,945) |
Financial assets, Related amounts not offset in statement of financial position, Cash collateral | (969,175) | (466,535) |
Financial assets, Net amounts | 2,118,305 | 2,539,198 |
Financial liabilities, Gross amounts of recognized financial assets and liabilities | 31,064,032 | 29,412,586 |
Financial liabilities, Gross amounts offset in statement of financial position | (2,781,151) | (2,333,088) |
Financial liabilities, Net amounts presented in statement of financial position | 28,282,881 | 27,079,498 |
Financial liabilities, Related amounts not offset in statement of financial position, Financial instruments | (23,483,727) | (23,547,883) |
Financial liabilities, Related amounts not offset in statement of financial position, Cash collateral | (1,122,754) | (1,107,582) |
Financial liabilities, Net amounts | 3,676,400 | 2,424,033 |
Reverse repurchase agreements and cash collateral on securities borrowed [member] | ||
Disclosure of offsetting of financial assets and liabilities [Line Items] | ||
Financial assets, Gross amounts of recognized financial assets and liabilities | 12,635,719 | 12,930,691 |
Financial assets, Gross amounts offset in statement of financial position | (1,611,635) | (1,626,761) |
Financial assets, Net amounts presented in statement of financial position | 11,024,084 | 11,303,930 |
Financial assets, Related amounts not offset in statement of financial position, Financial instruments | (10,845,394) | (11,069,691) |
Financial assets, Related amounts not offset in statement of financial position, Cash collateral | 0 | |
Financial assets, Net amounts | 178,690 | 234,239 |
Derivative financial assets [member] | ||
Disclosure of offsetting of financial assets and liabilities [Line Items] | ||
Financial assets, Gross amounts of recognized financial assets and liabilities | 9,862,036 | 7,044,938 |
Financial assets, Gross amounts offset in statement of financial position | (1,212,089) | (601,190) |
Financial assets, Net amounts presented in statement of financial position | 8,649,947 | 6,443,748 |
Financial assets, Related amounts not offset in statement of financial position, Financial instruments | (5,741,157) | (3,672,254) |
Financial assets, Related amounts not offset in statement of financial position, Cash collateral | (969,175) | (466,535) |
Financial assets, Net amounts | 1,939,615 | 2,304,959 |
Repurchase agreements and cash collateral on securities lent [Member] | ||
Disclosure of offsetting of financial assets and liabilities [Line Items] | ||
Financial liabilities, Gross amounts of recognized financial assets and liabilities | 19,397,661 | 21,739,923 |
Financial liabilities, Gross amounts offset in statement of financial position | (1,611,635) | (1,626,761) |
Financial liabilities, Net amounts presented in statement of financial position | 17,786,026 | 20,113,162 |
Financial liabilities, Related amounts not offset in statement of financial position, Financial instruments | (17,773,852) | (20,039,312) |
Financial liabilities, Related amounts not offset in statement of financial position, Cash collateral | 0 | |
Financial liabilities, Net amounts | 12,174 | 73,850 |
Derivative financial liabilities [member] | ||
Disclosure of offsetting of financial assets and liabilities [Line Items] | ||
Financial liabilities, Gross amounts of recognized financial assets and liabilities | 11,666,371 | 7,672,663 |
Financial liabilities, Gross amounts offset in statement of financial position | (1,169,516) | (706,327) |
Financial liabilities, Net amounts presented in statement of financial position | 10,496,855 | 6,966,336 |
Financial liabilities, Related amounts not offset in statement of financial position, Financial instruments | (5,709,875) | (3,508,571) |
Financial liabilities, Related amounts not offset in statement of financial position, Cash collateral | (1,122,754) | (1,107,582) |
Financial liabilities, Net amounts | ¥ 3,664,226 | ¥ 2,350,183 |
Financial Risk Management - Max
Financial Risk Management - Maximum Exposure to Credit Risk before Collateral Held or Other Credit Enhancements (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | ¥ 339,156,626 | ¥ 322,705,361 |
Deposits with banks [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 75,113,703 | 74,780,886 |
Call loans and bills bought [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 5,684,812 | 1,965,135 |
Reverse repurchase agreements and cash collateral on securities borrowed [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 11,024,084 | 11,303,930 |
Trading assets [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 4,229,845 | 3,489,258 |
Derivatives [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 8,649,947 | 6,443,748 |
Financial assets at fair value through profit or loss [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 1,392,889 | 1,657,206 |
Debt investment securities at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 235,567 | 83,954 |
Debt investment securities at FVOCI [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 22,811,423 | 28,066,966 |
Loans and advances [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 111,891,134 | 104,635,815 |
Other financial asset [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 5,360,634 | 5,309,839 |
Loan commitments [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | 79,068,816 | 73,246,384 |
Financial guarantees and other credit-related contingent liabilities [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk before collateral held or other credit enhancements | ¥ 13,693,772 | ¥ 11,722,240 |
Financial Risk Management - Fin
Financial Risk Management - Financial Effect of Collateral and Other Credit Enhancements on Loans and Advances for Borrowers Requiring Caution and Impaired Loans and Advances (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [abstract] | ||
Impaired loans and advances | ¥ 1,170,662 | ¥ 1,406,094 |
Financial effect of collateral and other credit enhancements | ¥ 387,980 | ¥ 393,462 |
Financial Risk Management - Loa
Financial Risk Management - Loans and Advances by Geographical Sector (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net | ¥ (388,579) | ¥ (324,830) |
Less: Allowance for loan losses | (864,114) | (993,054) |
Loans and advances | 111,891,134 | 104,635,815 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 113,143,827 | 105,953,699 |
Gross carrying amount [member] | Domestic [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 67,690,579 | 64,189,084 |
Gross carrying amount [member] | Americas [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 18,168,277 | 15,220,380 |
Gross carrying amount [member] | Europe [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 9,070,221 | 8,486,389 |
Gross carrying amount [member] | Asia [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 13,185,870 | 13,095,814 |
Gross carrying amount [member] | Others [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 5,028,880 | 4,962,032 |
Gross carrying amount [member] | Foreign [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 45,453,248 | ¥ 41,764,615 |
Financial Risk Management - L_2
Financial Risk Management - Loans and Advances by Industry Sector (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net | ¥ (388,579) | ¥ (324,830) |
Less: Allowance for loan losses | (864,114) | (993,054) |
Loans and advances | 111,891,134 | 104,635,815 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 113,143,827 | 105,953,699 |
Gross carrying amount [member] | Domestic [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 67,690,579 | 64,189,084 |
Gross carrying amount [member] | Domestic [member] | Manufacturing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 10,654,680 | 10,105,370 |
Gross carrying amount [member] | Domestic [member] | Agriculture, forestry, fisheries and mining [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 379,701 | 378,366 |
Gross carrying amount [member] | Domestic [member] | Construction [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 949,426 | 847,805 |
Gross carrying amount [member] | Domestic [member] | Transportation, communications and public enterprises [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 6,464,350 | 6,210,330 |
Gross carrying amount [member] | Domestic [member] | Wholesale and retail [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 6,143,314 | 5,903,439 |
Gross carrying amount [member] | Domestic [member] | Finance and insurance [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 3,901,580 | 3,549,762 |
Gross carrying amount [member] | Domestic [member] | Real estate and goods rental and leasing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 15,604,512 | 14,314,582 |
Gross carrying amount [member] | Domestic [member] | Services [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 4,896,764 | 4,860,235 |
Gross carrying amount [member] | Domestic [member] | Municipalities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 687,606 | 600,759 |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 15,886,487 | 15,506,486 |
Gross carrying amount [member] | Domestic [member] | Lease financing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 12,712 | 18,476 |
Gross carrying amount [member] | Domestic [member] | Others [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 2,109,447 | 1,893,474 |
Gross carrying amount [member] | Foreign [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 45,453,248 | 41,764,615 |
Gross carrying amount [member] | Foreign [member] | Public sector [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 291,238 | 440,236 |
Gross carrying amount [member] | Foreign [member] | Financial institutions [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 9,283,249 | 8,311,518 |
Gross carrying amount [member] | Foreign [member] | Commerce and industry [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 30,369,262 | 28,838,245 |
Gross carrying amount [member] | Foreign [member] | Lease financing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 295,199 | 290,097 |
Gross carrying amount [member] | Foreign [member] | Others [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 5,214,300 | ¥ 3,884,519 |
Financial Risk Management - L_3
Financial Risk Management - Loans and Advances by Industry Sector (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 |
Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 113,143,827 | 105,953,699 |
Gross carrying amount [member] | Domestic [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 67,690,579 | 64,189,084 |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 15,886,487 | 15,506,486 |
Gross carrying amount [member] | Housing loan [member] | Domestic [member] | Consumer [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 10,784,572 | ¥ 10,676,967 |
Financial Risk Management - Dis
Financial Risk Management - Disaggregation of Structured Finance Loans and Advances (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 |
Real estate finance [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 4,581,928 | 3,689,571 |
Project finance [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 6,283,946 | 5,828,182 |
Other structured finance [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | 509,334 | 497,444 |
Structured finance [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances | ¥ 11,375,208 | ¥ 10,015,197 |
Financial Risk Management - Sec
Financial Risk Management - Secured and Unsecured Consumer Loans (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 | |
Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 113,143,827 | 105,953,699 | |
Gross carrying amount [member] | Domestic [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 67,690,579 | 64,189,084 | |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 15,886,487 | 15,506,486 | |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | Secured loans [Member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | [1] | 11,386,978 | 11,311,593 |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | Unsecured loans [Member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 4,499,509 | ¥ 4,194,893 | |
[1]The secured loans and advances mainly represent housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. |
Financial Risk Management - S_2
Financial Risk Management - Secured and Unsecured Consumer Loans (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 | |
Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 113,143,827 | 105,953,699 | |
Gross carrying amount [member] | Domestic [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 67,690,579 | 64,189,084 | |
Gross carrying amount [member] | Domestic [member] | Consumer [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 15,886,487 | 15,506,486 | |
Gross carrying amount [member] | Housing loan [member] | Domestic [member] | Consumer [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 10,784,572 | 10,676,967 | |
Gross carrying amount [member] | Secured loans [Member] | Domestic [member] | Consumer [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | [1] | 11,386,978 | 11,311,593 |
Gross carrying amount [member] | Secured loans [Member] | Housing loan [member] | Domestic [member] | Consumer [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 10,784,572 | ¥ 10,676,967 | |
[1]The secured loans and advances mainly represent housing loans. The housing loan balances amounted to ¥10,784,572 million and ¥10,676,967 million at March 31, 2023 and 2022, respectively. |
Financial Risk Management - Sum
Financial Risk Management - Summary of Loans and Advances at Amortized Cost (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 | |
Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net | (388,579) | (324,830) | |
Allowance for loan losses | (864,114) | (993,054) | |
Loans and advances at amortized cost: | |||
Provision (credit) for loan losses | 148,464 | 279,978 | ¥ 282,486 |
Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 113,143,827 | 105,953,699 | |
Beginning balance | 993,054 | 849,287 | |
Ending balance | 864,114 | 993,054 | 849,287 |
Loans and advances at amortized cost: | |||
Beginning balance | 993,054 | 849,287 | |
Provision (credit) for loan losses | 138,176 | 269,060 | |
Charge-offs | 310,284 | 166,553 | |
Recoveries | 16,948 | 13,403 | |
Net charge-offs | 293,336 | 153,150 | |
Others | 26,220 | 27,857 | |
Ending balance | 864,114 | 993,054 | 849,287 |
Loan commitments and financial guarantees [member] | |||
Disclosure of credit risk exposure [line items] | |||
Beginning balance | 88,263 | 75,695 | |
Net transfers between stages | 0 | ||
Provision for off-balance sheet items | 10,288 | 10,918 | |
Others | 1,437 | 1,650 | |
Ending balance | 99,988 | 88,263 | 75,695 |
Loans and advances at amortized cost: | |||
Beginning balance | 88,263 | 75,695 | |
Ending balance | 99,988 | 88,263 | 75,695 |
Loan commitments and financial guarantees [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 44,290,873 | 40,057,560 | |
Loan commitments and financial guarantees [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 99,988 | 88,263 | |
Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 67,690,579 | 64,189,084 | |
Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 45,453,248 | 41,764,615 | |
12-month ECL [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 108,254,496 | 100,846,789 | |
Beginning balance | 162,919 | 170,156 | |
Ending balance | 187,455 | 162,919 | 170,156 |
Loans and advances at amortized cost: | |||
Beginning balance | 162,919 | 170,156 | |
Transfer to 12-month ECL | 2,300 | 8,140 | |
Transfer to lifetime ECL not credit-impaired | (3,495) | (9,170) | |
Transfer to lifetime ECL credit-impaired | (9,959) | (4,251) | |
Net transfers between stages | (11,154) | (5,281) | |
Provision (credit) for loan losses | 29,264 | (8,715) | |
Others | 6,426 | 6,759 | |
Ending balance | 187,455 | 162,919 | 170,156 |
12-month ECL [member] | Loan commitments and financial guarantees [member] | |||
Disclosure of credit risk exposure [line items] | |||
Beginning balance | 34,473 | 33,034 | |
Net transfers between stages | 90 | (816) | |
Provision for off-balance sheet items | 12,584 | 605 | |
Others | 1,437 | 1,650 | |
Ending balance | 48,584 | 34,473 | 33,034 |
Loans and advances at amortized cost: | |||
Beginning balance | 34,473 | 33,034 | |
Ending balance | 48,584 | 34,473 | 33,034 |
12-month ECL [member] | Loan commitments and financial guarantees [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 43,212,638 | 39,125,698 | |
12-month ECL [member] | Loan commitments and financial guarantees [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 48,584 | 34,473 | |
Lifetime ECL not credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 3,718,669 | 3,700,816 | |
Beginning balance | 247,020 | 255,909 | |
Ending balance | 240,494 | 247,020 | 255,909 |
Loans and advances at amortized cost: | |||
Beginning balance | 247,020 | 255,909 | |
Transfer to 12-month ECL | (2,037) | (5,225) | |
Transfer to lifetime ECL not credit-impaired | 6,485 | 13,747 | |
Transfer to lifetime ECL credit-impaired | (14,605) | (55,867) | |
Net transfers between stages | (10,157) | (47,345) | |
Provision (credit) for loan losses | (5,591) | 29,062 | |
Others | 9,222 | 9,394 | |
Ending balance | 240,494 | 247,020 | 255,909 |
Lifetime ECL not credit-impaired [member] | Loan commitments and financial guarantees [member] | |||
Disclosure of credit risk exposure [line items] | |||
Beginning balance | 41,756 | 35,480 | |
Net transfers between stages | (1,054) | 937 | |
Provision for off-balance sheet items | (4,539) | 5,339 | |
Others | 0 | ||
Ending balance | 36,163 | 41,756 | 35,480 |
Loans and advances at amortized cost: | |||
Beginning balance | 41,756 | 35,480 | |
Ending balance | 36,163 | 41,756 | 35,480 |
Lifetime ECL not credit-impaired [member] | Loan commitments and financial guarantees [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 1,009,650 | 874,122 | |
Lifetime ECL not credit-impaired [member] | Loan commitments and financial guarantees [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 36,163 | 41,756 | |
Lifetime ECL credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 1,170,662 | 1,406,094 | |
Beginning balance | 583,115 | 423,222 | |
Ending balance | 436,165 | 583,115 | 423,222 |
Loans and advances at amortized cost: | |||
Beginning balance | 583,115 | 423,222 | |
Transfer to 12-month ECL | (263) | (2,915) | |
Transfer to lifetime ECL not credit-impaired | (2,990) | (4,577) | |
Transfer to lifetime ECL credit-impaired | 24,564 | 60,118 | |
Net transfers between stages | 21,311 | 52,626 | |
Provision (credit) for loan losses | 114,503 | 248,713 | |
Charge-offs | 310,284 | 166,553 | |
Recoveries | 16,948 | 13,403 | |
Net charge-offs | 293,336 | 153,150 | |
Others | 10,572 | 11,704 | |
Ending balance | 436,165 | 583,115 | 423,222 |
Lifetime ECL credit-impaired [member] | Loan commitments and financial guarantees [member] | |||
Disclosure of credit risk exposure [line items] | |||
Beginning balance | 12,034 | 7,181 | |
Net transfers between stages | 964 | (121) | |
Provision for off-balance sheet items | 2,243 | 4,974 | |
Others | 0 | ||
Ending balance | 15,241 | 12,034 | 7,181 |
Loans and advances at amortized cost: | |||
Beginning balance | 12,034 | 7,181 | |
Ending balance | 15,241 | 12,034 | ¥ 7,181 |
Lifetime ECL credit-impaired [member] | Loan commitments and financial guarantees [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 68,585 | 57,740 | |
Lifetime ECL credit-impaired [member] | Loan commitments and financial guarantees [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loan commitments and Financial Guarantees | 15,241 | 12,034 | |
IFRS 9 [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 111,891,134 | 104,635,815 | |
Adjust: Unearned income, unamortized premiums—net and deferred loan fees—net | (388,579) | (324,830) | |
IFRS 9 [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 113,143,827 | 105,953,699 | |
Impaired | 1,170,662 | 1,406,094 | |
IFRS 9 [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Allowance for loan losses | (864,114) | (993,054) | |
IFRS 9 [member] | 12-month ECL [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 108,254,496 | 100,846,789 | |
IFRS 9 [member] | 12-month ECL [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Allowance for loan losses | (187,455) | (162,919) | |
IFRS 9 [member] | Lifetime ECL not credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 3,718,669 | 3,700,816 | |
IFRS 9 [member] | Lifetime ECL not credit-impaired [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Allowance for loan losses | (240,494) | (247,020) | |
IFRS 9 [member] | Lifetime ECL credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 1,170,662 | 1,406,094 | |
Impaired | 1,170,662 | 1,406,094 | |
IFRS 9 [member] | Lifetime ECL credit-impaired [member] | Allowance for loan losses [member] | |||
Disclosure of credit risk exposure [line items] | |||
Allowance for loan losses | (436,165) | (583,115) | |
IFRS 9 [member] | Normal [member] | Other [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 23,135,466 | 22,987,592 | |
IFRS 9 [member] | Normal [member] | Other [member] | 12-month ECL [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 22,843,553 | 22,894,567 | |
IFRS 9 [member] | Normal [member] | Other [member] | Lifetime ECL not credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 291,913 | 93,025 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 47,742,839 | 44,713,306 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 36,153,081 | 31,941,487 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | 12-month ECL [member] | Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 47,453,523 | 44,334,449 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | 12-month ECL [member] | Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 34,975,850 | 30,840,638 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | Lifetime ECL not credit-impaired [member] | Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 289,316 | 378,857 | |
IFRS 9 [member] | Normal [member] | Grade category of one to six [member] | Lifetime ECL not credit-impaired [member] | Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 1,177,231 | 1,100,849 | |
IFRS 9 [member] | Normal [member] | Japanese government and local municipal corporations [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 2,981,570 | 2,777,135 | |
IFRS 9 [member] | Normal [member] | Japanese government and local municipal corporations [member] | 12-month ECL [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 2,981,570 | 2,777,135 | |
IFRS 9 [member] | Requiring caution [member] | Other [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 278,666 | 218,089 | |
IFRS 9 [member] | Requiring caution [member] | Other [member] | Lifetime ECL not credit-impaired [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 278,666 | 218,089 | |
IFRS 9 [member] | Requiring caution [member] | 7 [member] | Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 838,655 | 922,423 | |
IFRS 9 [member] | Requiring caution [member] | 7 [member] | Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 842,888 | 987,573 | |
IFRS 9 [member] | Requiring caution [member] | 7 [member] | Lifetime ECL not credit-impaired [member] | Domestic [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | 838,655 | 922,423 | |
IFRS 9 [member] | Requiring caution [member] | 7 [member] | Lifetime ECL not credit-impaired [member] | Foreign [member] | Gross carrying amount [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loans and advances | ¥ 842,888 | ¥ 987,573 |
Financial Risk Management - S_3
Financial Risk Management - Summary of Loans and Advances at Amortized Cost (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Loans and advances at amortized cost | ¥ 111,891,134 | ¥ 104,635,815 |
Other [member] | Housing Loans [member] | Normal [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances at amortized cost | 10,697,842 | 10,575,167 |
Other [member] | Housing Loans [member] | Requiring caution [member] | ||
Disclosure of credit risk exposure [line items] | ||
Loans and advances at amortized cost | ¥ 16,624 | ¥ 17,600 |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 |
VaR holding period | 1 day | |
VaR confidence interval percentage | 99% | |
VaR observation period | 4 years | |
Threshold percentage applied by FSA | 15% | |
Ratio of decline in the economic value of equity to Tier 1 capital | 2.50% | 4% |
Total capital requirement on full implementation | 8% | |
Allowance for loan losses | ¥ 864,114 | ¥ 993,054 |
Increase (decrease) in allowance for loan losses | (128,940) | |
Modified loans and advances subject to lifetime ECL measurement [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances | 43,604 | ¥ 92,749 |
Lifetime ECL credit-impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase (decrease) in allowance for loan losses | (146,950) | |
12-month ECL [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase (decrease) in allowance for loan losses | 24,536 | |
Lifetime ECL not credit-impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase (decrease) in allowance for loan losses | ¥ (6,526) | |
Maximum [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Permitted level of percentage for reducing strategic equity investments | 100% | |
Daily average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Demand deposits, maturity period | 2 years 6 months | |
Minimum [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Demand deposits, maturity period | 5 years | |
Before adoption of Basel III [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Minimum Tier 1 capital requirement | 2.50% | |
Basel III [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Minimum Common Equity Tier 1 capital requirement | 4.50% | |
Total capital requirement on full implementation | 7% | |
G-SIB surcharge on full implementation | 1% | |
Minimum Common Equity Tier 1 capital requirement phase-in arrangements | 4.50% | |
Basel III [member] | Maximum [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Capital conservation buffer on full implementation | 8% | |
Total capital requirement on full implementation | 10.50% | |
Countercyclical buffer | 2.50% | |
G-SIB surcharge on full implementation | 2.50% | |
Minimum Common Equity Tier 1 capital requirement phase-in arrangements | 8% | |
Basel III [member] | Minimum [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Capital conservation buffer on full implementation | 6% | |
Total capital requirement on full implementation | 8.50% | |
Countercyclical buffer | 0% | |
G-SIB surcharge on full implementation | 1% | |
Minimum Common Equity Tier 1 capital requirement phase-in arrangements | 6% | |
Sumitomo mitsui banking corporation [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Ratio of decline in the economic value of equity to Tier 1 capital | 2.90% | 4.60% |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
VaR holding period | 1 year | |
VaR observation period | 10 years |
Financial Risk Management - Tra
Financial Risk Management - Trading Assets and Investment Securities Based on External Rating System (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | ¥ 339,156,626 | ¥ 322,705,361 |
Trading assets [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 4,229,845 | 3,489,258 |
Trading assets [member] | External credit grades [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 4,155,328 | 3,398,011 |
Trading assets [member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 644,180 | 519,262 |
Trading assets [member] | AA- to AA+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 3,147,681 | 2,437,286 |
Trading assets [member] | A- to A+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 223,843 | 243,090 |
Trading assets [member] | Lower than A- [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 126,281 | 195,008 |
Trading assets [member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 13,343 | 3,365 |
Financial assets at fair value through profit or loss [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 1,392,889 | 1,657,206 |
Financial assets at fair value through profit or loss [member] | External credit grades [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 138,304 | 155,614 |
Financial assets at fair value through profit or loss [member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 6,000 | 7,999 |
Financial assets at fair value through profit or loss [member] | AA- to AA+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 31,296 | 36,147 |
Financial assets at fair value through profit or loss [member] | A- to A+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 14,669 | 20,836 |
Financial assets at fair value through profit or loss [member] | Lower than A- [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 85,739 | 89,955 |
Financial assets at fair value through profit or loss [member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 600 | 677 |
Debt instruments at amortized cost [member] | External credit grades [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 235,567 | 83,954 |
Debt instruments at amortized cost [member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 0 | |
Debt instruments at amortized cost [member] | AA- to AA+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 165,593 | 25,741 |
Debt instruments at amortized cost [member] | A- to A+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 0 | |
Debt instruments at amortized cost [member] | Lower than A- [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 68,995 | 57,646 |
Debt instruments at amortized cost [member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 979 | 567 |
Debt instruments at fair value through other comprehensive income [member] | External credit grades [member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 23,583,633 | 28,587,058 |
Debt instruments at fair value through other comprehensive income [member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 10,034,033 | 8,634,719 |
Debt instruments at fair value through other comprehensive income [member] | AA- to AA+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 11,992,005 | 18,225,704 |
Debt instruments at fair value through other comprehensive income [member] | A- to A+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 399,783 | 670,840 |
Debt instruments at fair value through other comprehensive income [member] | Lower than A- [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | 984,062 | 863,446 |
Debt instruments at fair value through other comprehensive income [member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Trading assets and investment securities based on the external rating system | ¥ 173,750 | ¥ 192,349 |
Financial Risk Management - VaR
Financial Risk Management - VaR by Risk Category (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2023 | Mar. 31, 2022 |
VaR for Trading Activity [Member] | Interest rate risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | ¥ 37.6 | ¥ 59 |
VaR for Trading Activity [Member] | Interest rate risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 84.4 | 59.9 |
VaR for Trading Activity [Member] | Interest rate risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 21.7 | 13.8 |
VaR for Trading Activity [Member] | Interest rate risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 63.5 | 25 |
VaR for Trading Activity [Member] | Currency risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 23.9 | 42.7 |
VaR for Trading Activity [Member] | Currency risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 75.1 | 42.7 |
VaR for Trading Activity [Member] | Currency risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 13.2 | 8.6 |
VaR for Trading Activity [Member] | Currency risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 50.8 | 17.2 |
VaR for Trading Activity [Member] | Equities and commodities risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 5.5 | 5.5 |
VaR for Trading Activity [Member] | Equities and commodities risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 7.6 | 9.4 |
VaR for Trading Activity [Member] | Equities and commodities risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 4.3 | 5.1 |
VaR for Trading Activity [Member] | Equities and commodities risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 6.1 | 6.8 |
VaR for Trading Activity [Member] | Other risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 5.7 | 6.9 |
VaR for Trading Activity [Member] | Other risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 9.5 | 8.6 |
VaR for Trading Activity [Member] | Other risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 4.8 | 3.4 |
VaR for Trading Activity [Member] | Other risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 7 | 5.9 |
VaR for Trading Activity [Member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 27.7 | 25.9 |
VaR for Trading Activity [Member] | Market risk [member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 31.8 | 31.1 |
VaR for Trading Activity [Member] | Market risk [member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 25.2 | 20.6 |
VaR for Trading Activity [Member] | Market risk [member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 28.4 | 25.5 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 27.9 | 49.1 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 75.3 | 49.4 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 12.8 | 5.1 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 54.3 | 15.3 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 22.6 | 41.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 73.7 | 41.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 11.9 | 7.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 49.4 | 15.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.2 | 0.2 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1.7 | 3 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.2 | 0.2 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.7 | 1 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 5.7 | 6.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 9.5 | 8.6 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 4.8 | 3.4 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 7 | 5.9 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 11.6 | 10.2 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 15.3 | 13 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 10.5 | 6.1 |
VaR for Trading Activity [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 12.6 | 9 |
VaR for Non-trading Activity - Banking [Member] | Interest rate risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 64.7 | 59.4 |
VaR for Non-trading Activity - Banking [Member] | Interest rate risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 68 | 60.8 |
VaR for Non-trading Activity - Banking [Member] | Interest rate risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 41.2 | 44.1 |
VaR for Non-trading Activity - Banking [Member] | Interest rate risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 54.5 | 52.4 |
VaR for Non-trading Activity - Banking [Member] | Currency risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Currency risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.7 | 0.5 |
VaR for Non-trading Activity - Banking [Member] | Currency risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Currency risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.2 | 0.3 |
VaR for Non-trading Activity - Banking [Member] | Equities and commodities risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 11.3 | 17.1 |
VaR for Non-trading Activity - Banking [Member] | Equities and commodities risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 18.3 | 25.5 |
VaR for Non-trading Activity - Banking [Member] | Equities and commodities risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 3.3 | 15.2 |
VaR for Non-trading Activity - Banking [Member] | Equities and commodities risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 8.6 | 21 |
VaR for Non-trading Activity - Banking [Member] | Other risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Other risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Other risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Other risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 69.4 | 62.6 |
VaR for Non-trading Activity - Banking [Member] | Market risk [member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 74 | 64.3 |
VaR for Non-trading Activity - Banking [Member] | Market risk [member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 44.7 | 52 |
VaR for Non-trading Activity - Banking [Member] | Market risk [member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 58 | 59.1 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 63.3 | 58.7 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 67.3 | 60.1 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 40.1 | 43.6 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Interest rate risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 53.6 | 51.7 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.7 | 0.5 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Currency risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0.2 | 0.3 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 11.3 | 17.1 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 18.3 | 25.5 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 3.3 | 15.2 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Equities and commodities risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 8.6 | 21 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Other risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 0 | 0 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 68 | 61.9 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 73.4 | 63.5 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 43.6 | 51.5 |
VaR for Non-trading Activity - Banking [Member] | Sumitomo mitsui banking corporation [member] | Market risk [member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 57.1 | 58.4 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Equity risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,224.8 | 1,226.4 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Equity risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,241.1 | 1,384.9 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Equity risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,067.2 | 1,086.9 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Equity risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,163 | 1,261.3 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Sumitomo mitsui banking corporation [member] | Equity risk [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,003.2 | 1,043.5 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Sumitomo mitsui banking corporation [member] | Equity risk [Member] | Maximum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 1,047.4 | 1,199.8 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Sumitomo mitsui banking corporation [member] | Equity risk [Member] | Minimum [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | 879.5 | 923.4 |
VaR for Non-trading Activity - Strategic Equity Investment [Member] | Sumitomo mitsui banking corporation [member] | Equity risk [Member] | Daily average [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk amount | ¥ 961.3 | ¥ 1,079.3 |
Financial Risk Management - Mat
Financial Risk Management - Maturity Analysis of Contractual Undiscounted Cash Flows for Financial Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | ¥ 326,318,213 | ¥ 312,611,469 |
Contractual undiscounted cash flows, Derivative financial instruments | 10,496,855 | 6,966,336 |
On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 215,841,260 | 201,661,885 |
Contractual undiscounted cash flows, Derivative financial instruments | 9,909,806 | 6,717,823 |
Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 66,806,391 | 65,485,743 |
Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 17,630,772 | 21,638,934 |
Contractual undiscounted cash flows, Derivative financial instruments | 8,216 | |
Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 13,583,840 | 12,547,294 |
Contractual undiscounted cash flows, Derivative financial instruments | 101,245 | 13,875 |
Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 6,031,578 | 5,336,963 |
Contractual undiscounted cash flows, Derivative financial instruments | 147,303 | 77,746 |
Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 6,424,372 | 5,940,650 |
Contractual undiscounted cash flows, Derivative financial instruments | 330,285 | 156,892 |
Deposits from customers [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 172,940,451 | 162,602,061 |
Deposits from customers [Member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 116,227,911 | 109,504,226 |
Deposits from customers [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 38,303,894 | 35,716,375 |
Deposits from customers [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 14,106,445 | 13,658,588 |
Deposits from customers [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,733,806 | 2,497,423 |
Deposits from customers [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 676,254 | 633,386 |
Deposits from customers [Member] | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 892,141 | 592,063 |
Call money and bills sold [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,569,056 | 1,130,000 |
Call money and bills sold [Member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 16,663 | 16,257 |
Call money and bills sold [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,518,257 | 981,289 |
Call money and bills sold [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 31,805 | 87,177 |
Call money and bills sold [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,331 | 43,811 |
Call money and bills sold [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 1,466 | |
Repurchase agreements and cash collateral on securities lent [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 17,786,026 | 20,113,162 |
Repurchase agreements and cash collateral on securities lent [Member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 90,371 | 333,887 |
Repurchase agreements and cash collateral on securities lent [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 17,492,532 | 19,637,456 |
Repurchase agreements and cash collateral on securities lent [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 134,994 | 49,966 |
Repurchase agreements and cash collateral on securities lent [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 67,350 | 91,853 |
Repurchase agreements and cash collateral on securities lent [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 779 | |
Financial liabilities at fair value through profit or loss that meet definition of held for trading, category [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 3,291,089 | 3,181,992 |
Financial liabilities at fair value through profit or loss that meet definition of held for trading, category [member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 3,291,089 | 3,181,992 |
Borrowings [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 14,970,982 | 20,206,617 |
Borrowings [Member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 231,603 | 166,662 |
Borrowings [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 907,174 | 2,774,392 |
Borrowings [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 1,827,402 | 6,054,105 |
Borrowings [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 7,606,743 | 7,382,113 |
Borrowings [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,535,474 | 1,974,285 |
Borrowings [Member] | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 1,862,586 | 1,855,060 |
Debt securities in issue [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 12,565,581 | 11,688,714 |
Debt securities in issue [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,338,572 | 2,124,288 |
Debt securities in issue [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 1,321,930 | 1,587,490 |
Debt securities in issue [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,992,801 | 2,225,232 |
Debt securities in issue [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 2,659,646 | 2,573,987 |
Debt securities in issue [Member] | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 3,252,632 | 3,177,717 |
Lease payable [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 444,438 | 401,074 |
Lease payable [Member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 17,860 | 18,127 |
Lease payable [Member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 59,069 | 57,941 |
Lease payable [Member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 107,121 | 104,913 |
Lease payable [Member] | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 76,395 | 76,421 |
Lease payable [Member] | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 183,993 | 143,672 |
Others-liabilities [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 8,522,212 | 7,809,677 |
Others-liabilities [member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 3,221,035 | 3,490,237 |
Others-liabilities [member] | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 5,199,330 | 4,221,736 |
Others-liabilities [member] | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 97,469 | 3,526 |
Others-liabilities [member] | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 90,045 | |
Others-liabilities [member] | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 4,378 | 4,133 |
Loan commitments [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 79,068,816 | 73,246,384 |
Loan commitments [member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 79,068,816 | 73,246,384 |
Financial guarantees [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 13,693,772 | 11,722,240 |
Financial guarantees [member] | On demand [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 13,693,772 | 11,722,240 |
Financial liabilities designated at fair value through profit or loss | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 465,790 | 509,548 |
Financial liabilities designated at fair value through profit or loss | Not later than three months [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 28,772 | 12,080 |
Financial liabilities designated at fair value through profit or loss | Later than three months and not later than one year [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 51,658 | 140,141 |
Financial liabilities designated at fair value through profit or loss | Later than one year and not later than three years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 73,688 | 111,904 |
Financial liabilities designated at fair value through profit or loss | Later than three years and not later than five years [Member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | 83,030 | 77,418 |
Financial liabilities designated at fair value through profit or loss | Later than five years [member] | ||
Non-derivative financial instruments: | ||
Contractual undiscounted cash flows, Non-derivative financial instruments | ¥ 228,642 | ¥ 168,005 |
Financial Risk Management - Bal
Financial Risk Management - Balance of Loans and Advances and Deposits (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure Of Loans and advances, and Deposits [abstract] | ||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 |
Deposits | ¥ 172,927,810 | ¥ 162,593,492 |
Financial Risk Management - Dep
Financial Risk Management - Deposits by Domestic and Foreign Offices (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of deposits from customers [Line Items] | ||
Non-interest-bearing demand deposits | ¥ 33,550,063 | ¥ 30,967,878 |
Interest-bearing demand deposits | 75,184,412 | 71,508,201 |
Deposits at notice | 14,446,630 | 12,036,543 |
Time deposits | 27,523,697 | 25,137,738 |
Negotiable certificates of deposit | 13,025,556 | 13,069,797 |
Others | 9,197,452 | 9,873,335 |
Deposits | 172,927,810 | 162,593,492 |
Domestic [member] | ||
Disclosure of deposits from customers [Line Items] | ||
Non-interest-bearing demand deposits | 30,778,301 | 28,633,073 |
Interest-bearing demand deposits | 70,401,409 | 67,287,154 |
Deposits at notice | 828,110 | 691,249 |
Time deposits | 17,245,011 | 17,624,597 |
Negotiable certificates of deposit | 4,470,206 | 5,059,074 |
Others | 9,058,983 | 9,625,768 |
Deposits | 132,782,020 | 128,920,915 |
Foreign [member] | ||
Disclosure of deposits from customers [Line Items] | ||
Non-interest-bearing demand deposits | 2,771,762 | 2,334,805 |
Interest-bearing demand deposits | 4,783,003 | 4,221,047 |
Deposits at notice | 13,618,520 | 11,345,294 |
Time deposits | 10,278,686 | 7,513,141 |
Negotiable certificates of deposit | 8,555,350 | 8,010,723 |
Others | 138,469 | 247,567 |
Deposits | ¥ 40,145,790 | ¥ 33,672,577 |
Financial Risk Management - Reg
Financial Risk Management - Regulatory Capital Requirements (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of objectives, policies and processes for managing capital [abstract] | ||
Total risk-weighted capital ratio | 15.98% | 16.56% |
Tier 1 risk-weighted capital ratio | 14.94% | 15.46% |
Common Equity Tier 1 risk-weighted capital ratio | 14.02% | 14.45% |
Total capital (Common Equity Tier 1 capital + Additional Tier 1 capital + Tier 2 capital) | ¥ 12,350.8 | ¥ 11,983.8 |
Tier 1 capital (Common Equity Tier 1 capital + Additional Tier 1 capital) | 11,548.9 | 11,186.2 |
Common Equity Tier 1 capital | 10,839 | 10,458.4 |
Risk-weighted assets | 77,285 | 72,350.1 |
The amount of minimum total capital requirements | ¥ 6,182.8 | ¥ 5,788 |
Financial Risk Management - R_2
Financial Risk Management - Regulatory Capital Requirements (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of objectives, policies and processes for managing capital [abstract] | |
Total capital requirement | 8% |
Interest Rate Benchmark Refor_2
Interest Rate Benchmark Reform - Summary Of Financial Instruments Yet To Be Transitioned To An Alternative Benchmark Rate (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
USD LIBOR | ||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Carrying amount of non-derivative financial assets | ¥ 9,568 | ¥ 13,330 |
Carrying amount of non-derivative financial liabilities | 1,351 | 1,344 |
Derivative notional amounts | ¥ 247,066 | 221,161 |
Others | ||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Carrying amount of non-derivative financial assets | 370 | |
Carrying amount of non-derivative financial liabilities | 0 | |
Derivative notional amounts | ¥ 1,756 |
Related-Party Transactions - Tr
Related-Party Transactions - Transactions with Associates, Joint Ventures and Other Entities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Assets: | |||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 | |
Others | 6,167,202 | 6,063,907 | |
Liabilities: | |||
Deposits | 172,927,810 | 162,593,492 | |
Others | 8,703,413 | 8,386,774 | |
Income statements: | |||
Expense (interest expense and others) | 2,467,764 | 2,170,180 | ¥ 1,962,994 |
Associates, joint ventures, and other entities [Member] | |||
Assets: | |||
Loans and advances | 2,276,216 | 2,060,472 | |
Others | 186,617 | 33,957 | |
Liabilities: | |||
Deposits | 290,452 | 315,500 | |
Others | 56,801 | 36,406 | |
Income statements: | |||
Income (interest income, fee and commission income, and others) | 87,521 | 68,780 | 55,409 |
Expense (interest expense and others) | ¥ 43,473 | ¥ 25,046 | ¥ 34,811 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [line items] | |||
Compensation of key management personnel, post-employment benefits | ¥ 0 | ¥ 0 | ¥ 0 |
Compensation of key management personnel, other long-term benefits | 0 | 0 | 0 |
Compensation of key management personnel, termination benefits | 0 | 0 | ¥ 0 |
Associates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Financial guarantees provided by related party | 285,898 | 266,452 | |
Associates and joint ventures [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Loan commitments to associates and joint ventures | ¥ 1,018,229 | ¥ 938,335 |
Related-Party Transactions - _2
Related-Party Transactions - Transactions with Key Management Personnel and Their Close Family Members (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Assets: | ||
Loans and advances | ¥ 111,891,134 | ¥ 104,635,815 |
Liabilities: | ||
Deposits | 172,927,810 | 162,593,492 |
Others | 8,703,413 | 8,386,774 |
Key management personnel of entity or parent [member] | ||
Assets: | ||
Loans and advances | 44 | |
Liabilities: | ||
Deposits | 2,865 | 3,256 |
Others | ¥ 129 | ¥ 59 |
Related-Party Transactions - Co
Related-Party Transactions - Compensation Expenses of Key Management Personnel (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |||
Short-term employee benefits | ¥ 1,537 | ¥ 1,571 | ¥ 1,506 |
Share-based compensation | ¥ 461 | ¥ 457 | ¥ 383 |
Principal Subsidiaries - Princi
Principal Subsidiaries - Principal Domestic Subsidiaries (Detail) - Domestic [member] | 12 Months Ended |
Mar. 31, 2023 | |
Sumitomo Mitsui Banking Corporation [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Commercial banking |
SMBC Trust Bank Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Trust banking |
SMBC Guarantee Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Credit guarantee |
SMBC Nikko Securities Inc. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Securities |
Sumitomo Mitsui Card Company, Limited [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Credit card |
SMBC Consumer Finance Co., Ltd [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Consumer lending |
SMBC Mobit Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Consumer lending |
SMBC Finance Service Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Credit card, consumer credit and installment transaction |
The Japan Research Institute, Limited [Member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | System development, data processing, management consulting and economic research |
Sumitomo Mitsui DS Asset Management Company, Limited [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 50.10% |
Proportion of Voting Rights | 50.10% |
Main Business | Investment management, and investment advisory and agency |
Alternative Investment Capital Limited [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 60% |
Proportion of Voting Rights | 60% |
Main Business | Investment management and investment advisory |
NCore Co., Ltd [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 51% |
Proportion of Voting Rights | 51% |
Main Business | Data processing service and consulting |
SMBC Venture Capital Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 100% |
Proportion of Voting Rights | 100% |
Main Business | Venture capital |
SMBC Consulting Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 98.30% |
Proportion of Voting Rights | 98.30% |
Main Business | Management consulting and information services |
Japan Pension Navigator Co., Ltd. [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Ownership Interest | 69.70% |
Proportion of Voting Rights | 69.70% |
Main Business | Operational management of defined contribution pension plans |
Principal Subsidiaries - Prin_2
Principal Subsidiaries - Principal Foreign Subsidiaries (Detail) - Foreign [member] | 12 Months Ended |
Mar. 31, 2023 | |
SMBC Bank International Plc [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.K. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
Sumitomo Mitsui Banking Corporation (China) Limited [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | China |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
PT Bank BTPN Tbk [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | Indonesia |
Proportion of Ownership Interest | 98.40% |
Proposition of Voting Rights | 93.40% |
Main Business | Commercial banking |
SMBC Americas Holdings, Inc. [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.S.A. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Bank holding company |
Manufacturers Bank [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.S.A. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
Banco Sumitomo Mitsui Brasileiro S.A. [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | Brazil |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
JSC Sumitomo Mitsui Rus Bank [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | Russia |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
SMBC Bank EU AG [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | Germany |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
Sumitomo Mitsui Banking Corporation Malaysia Berhad [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | Malaysia |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Commercial banking |
SMBC Leasing and Finance, Inc. [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.S.A. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Leasing |
SMBC Nikko Securities America, Inc. [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.S.A. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Securities |
SMBC Nikko Capital Markets Limited [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.K. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Securities |
SMBC Capital Markets, Inc. [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.S.A. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Derivatives |
TT International Asset Management Ltd [member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | U.K. |
Proportion of Ownership Interest | 100% |
Proposition of Voting Rights | 100% |
Main Business | Investment management, and investment advisory and agency |
Fullerton India Credit Company Limited. [Member] | |
Disclosure of subsidiaries [Line Items] | |
Country of Incorporation | India |
Proportion of Ownership Interest | 74.90% |
Proposition of Voting Rights | 74.90% |
Main Business | Financial services |
Principal Subsidiaries - Prin_3
Principal Subsidiaries - Principal Foreign Subsidiaries (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2020 | |
Business combinations [member] | SMBC Group [member] | |
Disclosure of subsidiaries [Line Items] | |
Proportion of Disposed Interest | 5% |
Structured Entities - Additiona
Structured Entities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of information about structured entities [line items] | ||
Assets | ¥ 257,687,038 | ¥ 248,160,847 |
Unconsolidated structured entities [Member] | ||
Disclosure of information about structured entities [line items] | ||
Income from sponsored unconsolidated structured entities | 26,865 | 29,679 |
Assets transferred to sponsored unconsolidated structured entities | 1,094,445 | 1,922,459 |
Asset backed commercial paper conduits [Member] | ||
Disclosure of information about structured entities [line items] | ||
Assets | 873,672 | 806,524 |
Notional amounts of liquidity and credit enhancement facilities | ¥ 1,468,609 | ¥ 1,364,128 |
Structured Entities - Interests
Structured Entities - Interests in Unconsolidated Structured Entities and Maximum Exposure to Loss (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Interests in unconsolidated structured entities recognized in: | ||
Trading assets | ¥ 4,585,915 | ¥ 3,736,296 |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 |
Investment securities | 27,595,598 | 32,749,405 |
Loans and advances | 111,891,134 | 104,635,815 |
Securitisation [Member] | ||
Interests in unconsolidated structured entities recognized in: | ||
Trading assets | 5,197 | 11,149 |
Financial assets at fair value through profit or loss | 292 | 274 |
Investment securities | 145,351 | 136,521 |
Loans and advances | 3,581,390 | 2,817,366 |
Total | 3,732,230 | 2,965,310 |
Maximum exposure to loss from interests in unconsolidated structured entities | 5,245,346 | 4,289,574 |
Investment funds [Member] | ||
Interests in unconsolidated structured entities recognized in: | ||
Trading assets | 44,432 | 60,168 |
Financial assets at fair value through profit or loss | 669,880 | 976,983 |
Investment securities | 52,476 | 49,693 |
Total | 766,788 | 1,086,844 |
Maximum exposure to loss from interests in unconsolidated structured entities | 767,810 | 1,087,993 |
Structured finance [member] | ||
Interests in unconsolidated structured entities recognized in: | ||
Financial assets at fair value through profit or loss | 89,796 | 98,671 |
Loans and advances | 8,629,262 | 7,099,366 |
Total | 8,719,058 | 7,198,037 |
Maximum exposure to loss from interests in unconsolidated structured entities | 10,073,000 | 8,117,297 |
Others [Member] | ||
Interests in unconsolidated structured entities recognized in: | ||
Investment securities | 193 | 194 |
Loans and advances | 612,876 | 601,975 |
Total | 613,069 | 602,169 |
Maximum exposure to loss from interests in unconsolidated structured entities | 729,634 | 751,194 |
Unconsolidated structured entities [Member] | ||
Interests in unconsolidated structured entities recognized in: | ||
Trading assets | 49,629 | 71,317 |
Financial assets at fair value through profit or loss | 759,968 | 1,075,928 |
Investment securities | 198,020 | 186,408 |
Loans and advances | 12,823,528 | 10,518,707 |
Total | 13,831,145 | 11,852,360 |
Maximum exposure to loss from interests in unconsolidated structured entities | ¥ 16,815,790 | ¥ 14,246,058 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2023 | Nov. 30, 2021 | |
Disclosure of detailed information about business combination [Line Items] | |||
Loans and advances | ¥ 104,635,815 | ¥ 111,891,134 | |
Fullerton India Credit Company Limited [Member] | |||
Disclosure of detailed information about business combination [Line Items] | |||
Equity interest acquired | 74.90% | ||
Loans and advances | 306,413 | ¥ 306,413 | |
Gross contractual amounts receivable | 336,027 | ||
Gross contractual amounts receivable, expected to be uncollectible | 30,273 | ||
Assets other than cash or cash equivalents | 387,899 | ||
Liabilities assumed | ¥ 334,272 |
Acquisitions - Fair Values of A
Acquisitions - Fair Values of Assets and Liabilities of Fullerton India at the Date of Acquisition and the Consideration Paid (Detail) - JPY (¥) ¥ in Millions | Nov. 30, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Assets: | ||||
Cash and deposits with banks | ¥ 76,465,511 | ¥ 75,697,521 | ¥ 73,090,816 | |
Loans and advances | 111,891,134 | 104,635,815 | ||
All other assets | 6,167,202 | 6,063,907 | ||
Total assets | 257,687,038 | 248,160,847 | ||
Liabilities: | ||||
Borrowings | 15,371,801 | 20,584,651 | ||
Debt securities in issue | 11,984,994 | 11,428,437 | ||
All other liabilities | 8,703,413 | 8,386,774 | ||
Total liabilities | 244,150,073 | 235,379,155 | ||
Goodwill | ¥ 272,006 | 396,279 | ¥ 203,891 | |
Fullerton India Credit Company Limited [Member] | ||||
Assets: | ||||
Cash and deposits with banks | ¥ 37,495 | |||
Loans and advances | 306,413 | ¥ 306,413 | ||
All other assets | 58,612 | |||
Total assets | 402,520 | |||
Liabilities: | ||||
Borrowings | 176,075 | |||
Debt securities in issue | 135,445 | |||
All other liabilities | 22,752 | |||
Total liabilities | 334,272 | |||
Net assets | 68,248 | |||
Non-controlling interests measured at their proportionate share of the identifiable net assets and others | (17,130) | |||
Net assets acquired | 51,118 | |||
Goodwill | 179,197 | |||
Consideration | 230,315 | |||
Consideration: | ||||
Cash | 230,315 | |||
Total | 230,315 | |||
Acquisition related costs recognized as an expense in "General and administrative expenses" in the consolidated income statement | ¥ 2,093 |
Acquisitions - Total Amount of
Acquisitions - Total Amount of Cash Consideration Paid and Cash Acquired by Obtaining Control of Subsidiaries (Detail) - Fullerton India Credit Company Limited. [Member] ¥ in Millions | 12 Months Ended |
Mar. 31, 2022 JPY (¥) | |
Disclosure of detailed information about business combination [Line Items] | |
Cash consideration paid | ¥ (230,315) |
Cash and cash equivalents transferred as a result of the acquisitions | 14,621 |
Cash consideration paid, net of cash and cash equivalents acquired by obtaining control of the subsidiaries | ¥ (215,694) |
Current and Non-Current Disti_3
Current and Non-Current Distinction - Summary of Current and Non-Current Distinction (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Assets: | ||
Call loans and bills bought | ¥ 5,684,812 | ¥ 1,965,135 |
Reverse repurchase agreements and cash collateral on securities borrowed | 11,024,084 | 11,303,930 |
Financial assets at fair value through profit or loss | 1,488,239 | 1,695,585 |
Investment securities: | ||
Debt instruments at amortized cost | 235,567 | 83,954 |
Debt instruments at fair value through other comprehensive income | 22,811,423 | 28,066,966 |
Equity instruments at fair value through other comprehensive income | 4,548,608 | 4,598,485 |
Loans and advances | 111,891,134 | 104,635,815 |
Other financial assets | 5,360,634 | 5,309,839 |
Liabilities: | ||
Deposits | 172,927,810 | 162,593,492 |
Call money and bills sold | 2,569,056 | 1,130,000 |
Repurchase agreements and cash collateral on securities lent | 17,786,026 | 20,113,162 |
Financial liabilities designated at fair value through profit or loss | 414,106 | 455,734 |
Borrowings | 15,371,801 | 20,584,651 |
Debt securities in issue | 11,984,994 | 11,428,437 |
Other financial liabilities | 8,522,212 | 7,809,677 |
Not later than one year [member] | ||
Assets: | ||
Call loans and bills bought | 5,569,961 | 1,885,039 |
Reverse repurchase agreements and cash collateral on securities borrowed | 10,968,633 | 11,265,507 |
Financial assets at fair value through profit or loss | 5,215 | 4,589 |
Investment securities: | ||
Debt instruments at amortized cost | 49,631 | 31,921 |
Debt instruments at fair value through other comprehensive income | 9,059,561 | 10,533,166 |
Loans and advances | 39,254,388 | 38,073,404 |
Other financial assets | 5,220,793 | 5,009,619 |
Liabilities: | ||
Deposits | 168,635,510 | 158,876,649 |
Call money and bills sold | 2,566,725 | 1,084,723 |
Repurchase agreements and cash collateral on securities lent | 17,717,897 | 20,021,309 |
Financial liabilities designated at fair value through profit or loss | 63,592 | 117,783 |
Borrowings | 3,040,454 | 9,069,845 |
Debt securities in issue | 3,651,276 | 3,711,213 |
Other financial liabilities | 8,517,834 | 7,715,499 |
More than twelve months [Member] | ||
Assets: | ||
Call loans and bills bought | 114,851 | 80,096 |
Reverse repurchase agreements and cash collateral on securities borrowed | 55,451 | 38,423 |
Financial assets at fair value through profit or loss | 1,483,024 | 1,690,996 |
Investment securities: | ||
Debt instruments at amortized cost | 185,936 | 52,033 |
Debt instruments at fair value through other comprehensive income | 13,751,862 | 17,533,800 |
Equity instruments at fair value through other comprehensive income | 4,548,608 | 4,598,485 |
Loans and advances | 72,636,746 | 66,562,411 |
Other financial assets | 139,841 | 300,220 |
Liabilities: | ||
Deposits | 4,292,300 | 3,716,843 |
Call money and bills sold | 2,331 | 45,277 |
Repurchase agreements and cash collateral on securities lent | 68,129 | 91,853 |
Financial liabilities designated at fair value through profit or loss | 350,514 | 337,951 |
Borrowings | 12,331,347 | 11,514,806 |
Debt securities in issue | 8,333,718 | 7,717,224 |
Other financial liabilities | ¥ 4,378 | ¥ 94,178 |
Condensed Financial Informati_3
Condensed Financial Information of Registrant (SMFG) - Condensed Statement of Financial Position (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Assets: | ||||
Deposits with SMBC | ¥ 75,113,703 | ¥ 74,780,886 | ||
Loans to SMBC | 111,891,134 | 104,635,815 | ||
Other assets | 6,167,202 | 6,063,907 | ||
Current tax assets | 190,267 | 44,941 | ||
Total assets | 257,687,038 | 248,160,847 | ||
Liabilities and equity: | ||||
Debt securities in issue | 11,984,994 | 11,428,437 | ||
Other liabilities | 8,703,413 | 8,386,774 | ||
Total liabilities | 244,150,073 | 235,379,155 | ||
Other equity instruments holders' equity | 765,802 | 733,611 | ||
Total equity | 13,536,965 | 12,781,692 | ¥ 12,276,150 | ¥ 10,934,878 |
Total equity and liabilities | 257,687,038 | 248,160,847 | ||
Sumitomo mitsui banking corporation [member] | ||||
Liabilities and equity: | ||||
Debt securities in issue | 1,908,637 | 1,942,388 | ||
Other subsidiaries [member] | ||||
Liabilities and equity: | ||||
Debt securities in issue | 2,349,114 | 2,230,062 | ||
SMFG [member] | ||||
Liabilities and equity: | ||||
Debt securities in issue | 7,727,243 | 7,255,987 | ||
SMFG [member] | Non Consolidated [member] | ||||
Assets: | ||||
Investments in other subsidiaries, associates and joint ventures | 2,007,172 | 2,017,221 | ||
Other assets | 293,522 | 209,656 | ||
Current tax assets | 91,048 | 28,074 | ||
Total assets | 17,049,158 | 16,257,313 | ||
Liabilities and equity: | ||||
Long-term borrowings | 355,265 | 308,976 | ||
Debt securities in issue | 8,280,718 | 7,509,351 | ||
Other liabilities | 67,757 | 67,735 | ||
Total liabilities | 10,206,279 | 9,401,393 | ||
Shareholders' equity | 6,082,226 | 6,126,648 | ||
Other equity instruments holders' equity | 760,653 | 729,272 | ||
Total equity | 6,842,879 | 6,855,920 | ||
Total equity and liabilities | 17,049,158 | 16,257,313 | ||
SMFG [member] | Sumitomo mitsui banking corporation [member] | ||||
Assets: | ||||
Deposits with SMBC | 246,977 | 319,147 | ||
Investments in SMBC | 4,613,790 | 4,613,790 | ||
Loans to SMBC | 9,796,649 | 9,069,425 | ||
Liabilities and equity: | ||||
Short-term borrowings from SMBC | 1,487,650 | 1,508,030 | ||
SMFG [member] | Other subsidiaries [member] | Non Consolidated [member] | ||||
Liabilities and equity: | ||||
Debt securities in issue | ¥ 14,889 | ¥ 7,301 |
Condensed Financial Informati_4
Condensed Financial Information of Registrant (SMFG) - Condensed Income Statement (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Income: | |||
Interest income from SMBC | ¥ 3,696,076 | ¥ 1,747,654 | ¥ 1,780,370 |
Dividends from other subsidiaries, associates and joint ventures | 104,761 | 95,290 | 74,109 |
Fees and commission income from subsidiaries | 1,262,734 | 1,248,225 | 1,174,382 |
Other income | 180,827 | 108,727 | 138,223 |
Expense: | |||
Interest expense | 1,941,006 | 303,716 | 397,245 |
Operating and other expense | 2,467,764 | 2,170,180 | 1,962,994 |
Profit before tax | 1,261,876 | 676,464 | 956,478 |
Income tax expense | 326,027 | 161,389 | 251,402 |
Net profit | 935,849 | 515,075 | 705,076 |
Profit attributable to: | |||
Shareholders | 911,831 | 499,573 | 687,483 |
Other equity instruments holders | 11,310 | 10,731 | 13,122 |
Sumitomo mitsui banking corporation [member] | |||
Expense: | |||
Profit before tax | 404,132 | ||
SMFG [member] | |||
Income: | |||
Fees and commission income from subsidiaries | 12,421 | 9,439 | 7,777 |
Other income | 1,956 | 1,109 | 794 |
Total income | 703,564 | 617,120 | 484,214 |
Expense: | |||
Interest expense | 220,397 | 169,526 | 154,298 |
Operating and other expense | 68,659 | 37,982 | 31,806 |
Total expense | 299,432 | 217,038 | 194,737 |
Profit before tax | 404,132 | 400,082 | 289,477 |
Income tax expense | (8,348) | (7,942) | (5,710) |
Net profit | 412,480 | 408,024 | 295,187 |
Profit attributable to: | |||
Shareholders | 401,170 | 397,293 | 282,065 |
Other equity instruments holders | 11,310 | 10,731 | 13,122 |
SMFG [member] | Sumitomo mitsui banking corporation [member] | |||
Income: | |||
Interest income from SMBC | 235,386 | 184,206 | 170,777 |
Dividends from other subsidiaries, associates and joint ventures | 437,850 | 376,757 | 272,952 |
Expense: | |||
Interest expense | 5,546 | 4,751 | 4,313 |
SMFG [member] | Other subsidiaries and associate [Member] | |||
Income: | |||
Dividends from other subsidiaries, associates and joint ventures | 15,951 | 45,609 | 31,914 |
SMFG [member] | Other subsidiaries [member] | |||
Expense: | |||
Interest expense | ¥ 4,830 | ¥ 4,779 | ¥ 4,320 |
Condensed Financial Informati_5
Condensed Financial Information of Registrant (SMFG) - Condensed Statement of Cash Flows (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Operating Activities: | |||
Profit before tax | ¥ 1,261,876 | ¥ 676,464 | ¥ 956,478 |
Income taxes paid—net | (386,659) | (268,730) | (135,708) |
Other operating activities—net | (933,671) | (909,783) | 61,700 |
Net cash and cash equivalents provided by (used in) operating activities | (5,239,906) | 5,101,193 | 18,322,359 |
Investing Activities: | |||
Investments in associates and joint ventures | (57,464) | (134,183) | (57,681) |
Other investing activities—net | (2) | (1) | 1 |
Net cash and cash equivalents provided by (used in) investing activities | 5,799,264 | (2,663,391) | (7,780,862) |
Financing Activities: | |||
Proceeds from issuance of other equity instruments | 116,940 | 79,955 | 99,943 |
Dividends paid to shareholders | (301,600) | (274,058) | (267,119) |
Coupons paid to other equity instruments holders | (11,310) | (10,731) | (13,122) |
Purchases of treasury stock and proceeds from sales of treasury stock-net | (138,507) | 246 | 220 |
Net cash and cash equivalents used in financing activities | (459,548) | (597,861) | (684,413) |
Net increase of cash and cash equivalents | 1,000,282 | 2,795,256 | 10,345,156 |
Cash and cash equivalents at beginning of period | 74,343,953 | 71,548,697 | 61,203,541 |
Cash and cash equivalents at end of period | 75,344,235 | 74,343,953 | 71,548,697 |
Sumitomo mitsui banking corporation [member] | |||
Operating Activities: | |||
Profit before tax | 404,132 | ||
SMFG [member] | |||
Operating Activities: | |||
Profit before tax | 404,132 | 400,082 | 289,477 |
Income taxes paid—net | 387 | (17,935) | 79,396 |
Other operating activities—net | 359,237 | 579,929 | 267,159 |
Net cash and cash equivalents provided by (used in) operating activities | 763,756 | 962,076 | 636,032 |
Investing Activities: | |||
Investments in subsidiaries | (19,796) | (233,576) | (7,418) |
Investments in associates and joint ventures | (819) | (52,849) | |
Other investing activities—net | (2,770) | (5,953) | (46,282) |
Net cash and cash equivalents provided by (used in) investing activities | (749,789) | (1,113,885) | (857,262) |
Financing Activities: | |||
Net increase (decrease) of short-term borrowings from SMBC | (20,380) | 230,000 | 50,000 |
Proceeds from issuance of long-term borrowings | 61,042 | 86,390 | 10,625 |
Redemption of long-term borrowings | (36,046) | ||
Proceeds from issuance of debt securities | 1,191,048 | 969,480 | 921,603 |
Proceeds from issuance of other equity instruments | 116,346 | 79,516 | 99,400 |
Redemption of debt securities | (861,730) | (831,880) | (403,025) |
Redemption of other equity instruments | (85,000) | (130,000) | |
Dividends paid to shareholders | (301,600) | (274,058) | (267,119) |
Coupons paid to other equity instruments holders | (11,310) | (10,731) | (13,122) |
Purchases of treasury stock and proceeds from sales of treasury stock-net | (138,507) | 246 | 220 |
Net cash and cash equivalents used in financing activities | (86,137) | 248,963 | 268,582 |
Net increase of cash and cash equivalents | (72,170) | 97,154 | 47,352 |
Cash and cash equivalents at beginning of period | 319,147 | 221,993 | 174,641 |
Cash and cash equivalents at end of period | 246,977 | 319,147 | 221,993 |
SMFG [member] | Sumitomo mitsui banking corporation [member] | |||
Investing Activities: | |||
Loans provided to SMBC | ¥ (727,223) | ¥ (873,537) | ¥ (750,713) |
Condensed Financial Informati_6
Condensed Financial Information of Registrant (SMFG) - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 15,371,801 | ¥ 20,584,651 |
Bonds | 11,984,994 | 11,428,437 |
SMFG [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | 7,727,243 | 7,255,987 |
SMFG [member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | 8,280,718 | 7,509,351 |
Guarantee deposit | 508,000 | 396,000 |
SMFG [member] | Subordinated bonds [Member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | 1,098,000 | 954,000 |
SMFG [member] | Subsidiaries [Member] | Subordinated bonds [Member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | 200 | 300 |
SMFG [member] | Subordinated long-term borrowings [member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 41,000 | 41,000 |
SMFG [member] | Unsubordinated long-term borrowings [member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 314,000 | 268,000 |
SMFG [member] | Senior Bonds [Member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | 7,197,000 | 6,563,000 |
SMFG [member] | Senior Bonds [Member] | Subsidiaries [Member] | Non Consolidated [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds | ¥ 15,000 | ¥ 7,000 |