Sumitomo Mitsui Financial (SMFG) 6-K Current report (foreign)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

SECURITIES EXCHANGE ACT OF 1934

For the month of August 2023

Commission file number 001-34919

SUMITOMO MITSUI FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

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

(Address of principal executive offices)

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

Form 20-F    ☒    or    Form 40-F    ☐

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF SUMITOMO MITSUI FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-273003) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

TABLE OF DOCUMENT(S) SUBMITTED

1. Unaudited quarterly consolidated Japanese GAAP financial statements as of and for the three months ended June 30, 2023

SIGNATURES

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

Sumitomo Mitsui Financial Group, Inc.
By:	/s/ Fumihiko Ito
	Name:  Fumihiko Ito
	Title:   Senior Managing Executive Officer Group Chief Financial Officer

Date: August 18, 2023

UNAUDITED QUARTERLY CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE THREE MONTHS ENDED JUNE 30, 2023

On August 14, 2023, we published our unaudited quarterly consolidated financial statements as of and for the three months ended June 30, 2023 prepared in accordance with accounting principles generally accepted in Japan, or Japanese GAAP, as part of our quarterly securities report (shihanki hokokusho) for the same period filed by us with the relevant Japanese authorities. This document is an English translation of the unaudited quarterly consolidated financial statements and the notes thereto included in such quarterly securities report. Japanese GAAP differs in certain respects from International Financial Reporting Standards as issued by the International Accounting Standards Board, or IFRS, and generally accepted accounting principles in the United States. For a description of certain differences between IFRS and Japanese GAAP, see “Item 5.A Operating Results—Reconciliation with Japanese GAAP” in our most recent annual report on Form 20-F filed with the SEC.

UNAUDITED QUARTERLY

CONSOLIDATED FINANCIAL STATEMENTS (JAPANESE GAAP)

QUARTERLY CONSOLIDATED BALANCE SHEETS

	Millions of yen						Millions of U.S. dollars
	March 31, 2023			June 30, 2023			June 30, 2023
Assets:
Cash and due from banks		¥	75,913,960		¥	76,733,528	$	529,233
Call loans and bills bought			5,684,812			7,789,075		53,721
Receivables under resale agreements			5,785,945			8,152,427		56,228
Receivables under securities borrowing transactions			5,576,612			5,518,587		38,062
Monetary claims bought			5,558,287			5,361,348		36,977
Trading assets			8,751,204			10,364,109		71,482
Money held in trust			12,957			13,157		91
Securities	*1,*2		33,213,165	*1,*2		33,787,972		233,037
Loans and bills discounted	*1		98,404,137	*1		101,282,112		698,546
Foreign exchanges	*1		1,942,764	*1		2,107,576		14,536
Lease receivables and investment assets			226,302			251,775		1,737
Other assets	*1		13,243,899	*1		16,139,376		111,314
Tangible fixed assets			1,494,527			1,503,111		10,367
Intangible fixed assets			897,848			924,581		6,377
Net defined benefit asset			704,654			716,342		4,941
Deferred tax assets			74,084			86,177		594
Customers’ liabilities for acceptances and guarantees	*1		13,693,771	*1		14,666,286		101,154
Reserve for possible loan losses			(750,369)			(762,786)		(5,261)
Total assets		¥	270,428,564		¥	284,634,759	$	1,963,134

—1—

QUARTERLY CONSOLIDATED BALANCE SHEETS

	Millions of yen						Millions of U.S. dollars
	March 31, 2023			June 30, 2023			June 30, 2023
Liabilities and net assets:
Liabilities:
Deposits		¥	158,770,253		¥	161,003,648	$	1,110,447
Negotiable certificates of deposit			13,025,555			14,060,196		96,974
Call money and bills sold			2,569,055			2,135,347		14,728
Payables under repurchase agreements			16,772,716			19,931,263		137,466
Payables under securities lending transactions			1,521,271			1,344,261		9,271
Commercial paper			2,349,956			2,005,546		13,832
Trading liabilities			8,066,745			9,866,513		68,050
Borrowed money			13,674,830			14,129,890		97,454
Foreign exchanges			1,465,847			1,740,216		12,002
Short-term bonds			424,000			630,500		4,349
Bonds			10,365,003			11,348,640		78,272
Due to trust account			2,413,464			2,408,719		16,613
Other liabilities			11,923,748			15,253,783		105,206
Reserve for employee bonuses			96,254			37,874		261
Reserve for executive bonuses			3,307			—		—
Net defined benefit liability			35,449			35,656		246
Reserve for executive retirement benefits			1,133			895		6
Reserve for point service program			28,659			29,503		203
Reserve for reimbursement of deposits			10,845			9,731		67
Reserve for losses on interest repayment			128,378			120,257		829
Reserves under the special laws			3,902			4,164		29
Deferred tax liabilities			265,354			415,525		2,866
Deferred tax liabilities for land revaluation			27,952			27,952		193
Acceptances and guarantees			13,693,771			14,666,286		101,154
Total liabilities			257,637,458			271,206,377		1,870,518
Net assets:
Capital stock			2,342,537			2,342,537		16,157
Capital surplus			694,052			694,060		4,787
Retained earnings			7,423,600			7,308,259		50,405
Treasury stock			(151,798)			(17,749)		(122)
Total stockholders’ equity			10,308,391			10,327,108		71,226
Net unrealized gains (losses) on other securities			1,373,521			1,645,728		11,351
Net deferred gains (losses) on hedges			(13,293)			24,833		171
Land revaluation excess			35,005			35,056		242
Foreign currency translation adjustments			843,614			1,152,645		7,950
Accumulated remeasurements of defined benefit plans			133,226			128,424		886
Total accumulated other comprehensive income			2,372,074			2,986,689		20,599
Stock acquisition rights			1,145			1,044		7
Non-controlling interests			109,495			113,540		783
Total net assets			12,791,106			13,428,381		92,616
Total liabilities and net assets		¥	270,428,564		¥	284,634,759	$	1,963,134

—2—

QUARTERLY CONSOLIDATED STATEMENTS OF INCOME

	Millions of yen								Millions of     U.S. dollars
Three months ended June 30	2022				2023				2023
Ordinary income			¥	1,331,703			¥	2,273,292	$	15,679
Interest income				637,403				1,411,067		9,732
Interest on loans and discounts				441,177				869,210		5,995
Interest and dividends on securities				108,984				128,484		886
Trust fees				1,478				1,845		13
Fees and commissions				336,330				390,147		2,691
Trading income				4,543				122,789		847
Other operating income				255,237				265,156		1,829
Other income		*1		96,710		*1		82,286		568
Ordinary expenses				982,028				1,924,154		13,271
Interest expenses				205,653				990,570		6,832
Interest on deposits				63,559				383,413		2,644
Fees and commissions payments				56,222				60,279		416
Trading losses				90,643				195,454		1,348
Other operating expenses				85,556				69,312		478
General and administrative expenses				484,021				535,092		3,691
Other expenses		*2		59,932		*2		73,445		507
Ordinary profit				349,674				349,137		2,408
Extraordinary gains		*3		10		*3		11		0
Extraordinary losses		*4		998		*4		1,137		8
Income before income taxes				348,686				348,012		2,400
Income taxes				93,962				97,289		671
Profit				254,724				250,722		1,729
Profit attributable to non-controlling interests				2,284				2,705		19
Profit attributable to owners of parent			¥	252,439			¥	248,016	$	1,711

—3—

QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Millions of yen						Millions of     U.S. dollars
Three months ended June 30	2022			2023			2023
Profit		¥	254,724		¥	250,722	$	1,729
Other comprehensive income (losses)			136,901			617,485		4,259
Net unrealized gains (losses) on other securities			(365,102)			267,072		1,842
Net deferred gains (losses) on hedges			71,230			38,081		263
Foreign currency translation adjustments			393,295			302,972		2,090
Remeasurements of defined benefit plans			(5,525)			(4,818)		(33)
Share of other comprehensive income of affiliates			43,003			14,178		98
Total comprehensive income			391,625			868,208		5,988
Comprehensive income attributable to owners of parent			390,357			862,580		5,949
Comprehensive income attributable to non-controlling interests			1,268			5,627		39

—4—

NOTES TO UNAUDITED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS

(Basis of presentation)

Sumitomo Mitsui Financial Group, Inc. (“the Company”) was established on December 2, 2002 as a holding company for the SMBC Group (“the Group”) through a statutory share transfer (kabushiki iten) of all of the outstanding equity securities of Sumitomo Mitsui Banking Corporation (“SMBC”) in exchange for the Company’s newly issued securities. The Company is a joint stock corporation with limited liability (Kabushiki Kaisha) incorporated under the Companies Act of Japan. Upon formation of the Company and completion of the statutory share transfer, SMBC became a direct wholly owned subsidiary of the Company.

The Company has prepared the accompanying consolidated financial statements in accordance with the provisions set forth in the Japanese Financial Instruments and Exchange Act and its related accounting regulations, and in conformity with accounting principles generally accepted in Japan (“Japanese GAAP”), which are different in certain respects as to application and disclosure requirements from International Financial Reporting Standards (“IFRS”).

The accounts of overseas subsidiaries and affiliated companies are, in principle, integrated with those of the Company’s accounting policies for purposes of consolidation unless they apply different accounting principles and standards as required under U.S. GAAP or IFRS, in which case a certain limited number of items are adjusted based on their materiality.

These consolidated financial statements are translated from the consolidated financial statements contained in the quarterly securities report filed under the Financial Instruments and Exchange Act of Japan (“FIEA based financial statements”) except for the addition of U.S. dollar figures.

Amounts less than ¥1 million have been rounded down. As a result, the totals in Japanese yen shown in the financial statements do not necessarily agree with the sum of the individual amounts.

The translation of the Japanese yen amounts into U.S. dollars is included solely for the convenience of readers outside Japan, using the prevailing exchange rate at June 30, 2023 which was ¥144.99 to US$1. These translations should not be construed as representations that the Japanese yen amounts have been, could have been, or could in the future be, converted into U.S. dollars at that rate.

—5—

(Changes in the scope of consolidation or in the scope of equity method)

(1) Significant changes in the scope of consolidation

Not applicable.

(2) Significant changes in the scope of equity method

Not applicable.

(Applied special accounting methods used for preparing quarterly consolidated financial statements)

Accounting treatment of tax expenses

The Company and certain domestic consolidated subsidiaries calculated tax expenses by multiplying Income before income taxes by an effective tax rate that was reasonably estimated by applying tax effect accounting to estimated Income before income taxes for the fiscal year ending March 31, 2024 including the period for the three months ended June 30, 2023. Amounts of Income taxes include Income taxes-deferred.

—6—

(Notes to quarterly consolidated balance sheets)

*1 Claims under the Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions

Claims under the Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions at March 31, 2023 and June 30, 2023 were as follows. The claims were items that were recorded under the following items on the quarterly consolidated balance sheet (consolidated balance sheet): bonds included in “Securities” (limited to bonds for which the redemption of principal and the payment of interest in whole or in part are guaranteed, and that are issued through private placements (under Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)), loans and bills discounted, foreign exchanges, accrued interest and suspense payments included in “Other assets,” and customers’ liabilities for acceptances and guarantees. If security lending listed in the notes was conducted, such securities (limited to those based on loan for a use agreement or lease agreement) were also included in the claims.

	Millions of yen
	March 31, 2023		June 30, 2023
Bankrupt and quasi-bankrupt loans	¥	92,941	¥	90,285
Doubtful loans		494,158		515,989
Substandard loans		340,732		339,574
Past due loans (3 months or more)		19,944		30,776
Restructured loans		320,788		308,797
Subtotal		927,833		945,849
Normal loans		115,139,286		119,199,925
Total	¥	116,067,120	¥	120,145,774

The amounts of loans presented above were the amounts before deduction of reserve for possible loan losses.

*2 Guaranteed amount to privately-placed bonds

The amounts guaranteed by banking subsidiaries to privately-placed bonds (stipulated by Article 2, Paragraph 3 of the Financial Instruments and Exchange Act) in “Securities” at March 31, 2023 and June 30, 2023 were as follows:

	Millions of yen
	March 31, 2023		June 30, 2023
Guaranteed amount to privately-placed bonds	¥	1,306,809	¥	932,803

—7—

(Notes to quarterly consolidated statements of income)

*1 Other income

“Other income” for the three months ended June 30, 2022 and 2023 included the following:

Three months ended June 30, 2022	Millions of yen		Three months ended June 30, 2023	Millions of yen
Gains on sales of stocks and others	¥	55,535	Gains on sales of stocks and others	¥	50,174
Equity in gains of affiliates		32,712

*2 Other expenses

“Other expenses” for the three months ended June 30, 2022 and 2023 included the following:

Three months ended June 30, 2022	Millions of yen		Three months ended June 30, 2023	Millions of yen
Write-off of loans	¥	26,898	Write-off of loans	¥	46,541
Losses on sales of stocks and others		14,230

*3 Extraordinary gains

“Extraordinary gains” for the three months ended June 30, 2022 and 2023 included the following:

Three months ended June 30, 2022	Millions of yen		Three months ended June 30, 2023	Millions of yen
Gains on disposal of fixed assets	¥	10	Gains on disposal of fixed assets	¥	11

*4 Extraordinary losses

“Extraordinary losses” for the three months ended June 30, 2022 and 2023 were as follows:

Three months ended June 30, 2022	Millions of yen		Three months ended June 30, 2023	Millions of yen
Losses on impairment of fixed assets	¥	629	Losses on impairment of fixed assets	¥	631
Losses on disposal of fixed assets		368	Provision for reserve for contingent liabilities from financial instruments transactions		262
			Losses on disposal of fixed assets		243

—8—

(Notes to quarterly consolidated statements of cash flows)

Quarterly consolidated statements of cash flows were not prepared for the three months ended June 30, 2023. “Depreciation” (including amortization of intangible fixed assets other than goodwill) and “Amortization of goodwill” for the three months ended June 30, 2022 and 2023 were as follows:

	Millions of yen
Three months ended June 30	2022		2023
Depreciation	¥	58,946	¥	62,062
Amortization of goodwill		8,209		8,262

(Notes to stockholders’ equity)

Dividends paid in the three months ended June 30, 2022

Date of resolution	Type of shares		Millions of yen, except per share amount
			Cash dividends		Cash dividends     per share		Record date	Effective date	Source of dividends
Ordinary general meeting of shareholders held on June 29, 2022		Common stock	¥	143,936	¥	105	March 31, 2022	June 30, 2022		Retained earnings

Dividends paid in the three months ended June 30, 2023

Date of resolution	Type of shares		Millions of yen, except per share amount
			Cash dividends		Cash dividends     per share		Record date	Effective date	Source of dividends
Ordinary general meeting of shareholders held on June 29, 2023		Common stock	¥	168,077	¥	125	March 31, 2023	June 30, 2023		Retained earnings

—9—

(Notes to segment and other related information)

[Segment information]

1. Information on profit and loss amount by reportable segment

Three months ended June 30, 2022	Millions of yen
	Wholesale Business Unit		Retail Business Unit		Global Business Unit		Global Markets Business Unit		Head office account and others		Total
Consolidated gross profit	¥	166,700	¥	271,700	¥	268,100	¥	136,200	¥	(45,783)	¥	796,917
General and administrative expenses		(73,400)		(230,800)		(145,200)		(27,200)		(7,421)		(484,021)
Others		15,700		800		32,500		6,800		(23,088)		32,712
Consolidated net business profit	¥	109,000	¥	41,700	¥	155,400	¥	115,800	¥	(76,291)	¥	345,609

Notes:	1.	Figures shown in the parenthesis represent the loss.
	2.	“Others” includes equity in profit and loss of affiliates and cooperated profit and loss based on internal managerial accounting.
	3.	“Head office account and others” includes profit or loss to be eliminated as inter-segment transactions.

Three months ended June 30, 2023	Millions of yen
	Wholesale Business Unit		Retail Business Unit		Global Business Unit		Global Markets Business Unit		Head office account and others		Total
Consolidated gross profit	¥	172,900	¥	304,600	¥	331,300	¥	149,400	¥	(82,811)	¥	875,389
General and administrative expenses		(76,300)		(261,600)		(187,600)		(38,800)		29,208		(535,092)
Others		25,100		800		12,800		7,400		(29,230)		16,870
Consolidated net business profit	¥	121,700	¥	43,800	¥	156,500	¥	118,000	¥	(82,833)	¥	357,167

Notes:	1.	Figures shown in the parenthesis represent the loss.
	2.	“Others” includes equity in profit and loss of affiliates and cooperated profit and loss based on internal managerial accounting.
	3.	“Head office account and others” includes profit or loss to be eliminated as inter-segment transactions.

2. Difference between total amount of consolidated net business profit by reportable segment and ordinary profit on quarterly consolidated statements of income (adjustment of difference)

Three months ended June 30, 2022	Millions of yen
Consolidated net business profit	¥	345,609
Other ordinary income (excluding equity in gains of affiliates)		63,997
Other ordinary expenses		(59,932)
Ordinary profit on quarterly consolidated statements of income	¥	349,674

Note:    Figures shown in the parenthesis represent the loss.

Three months ended June 30, 2023	Millions of yen
Consolidated net business profit	¥	357,167
Other ordinary income (excluding equity in gains of affiliates)		65,415
Other ordinary expenses		(73,445)
Ordinary profit on quarterly consolidated statements of income	¥	349,137

Note:    Figures shown in the parenthesis represent the loss.

—10—

(Notes to financial instruments)

There were no significant matters to be disclosed regarding financial instruments.

(Notes to securities)

The amounts shown in the following tables include negotiable certificates of deposit classified as “Cash and due from banks,” and beneficiary claims on loan trust classified as “Monetary claims bought,” in addition to “Securities” stated in the quarterly consolidated balance sheets.

1. Bonds classified as held-to-maturity

	Millions of yen
March 31, 2023	Consolidated balance sheet amount		Fair value		Net unrealized gains (losses)
Japanese government bonds	¥	72,549	¥	72,518	¥	(30	)
Japanese local government bonds		93,043		92,689		(354	)
Japanese corporate bonds		—		—		—
Other		—		—		—
Total	¥	165,592	¥	165,207	¥	(384	)
Note:    The fair values are based on their market prices and others at the end of the fiscal year.
	Millions of yen
June 30, 2023	Quarterly consolidated balance sheet amount		Fair value		Net unrealized gains (losses)
Japanese government bonds	¥	78,552	¥	78,715	¥	162
Japanese local government bonds		121,240		121,212		(27	)
Japanese corporate bonds		—		—		—
Other		—		—		—
Total	¥	199,793	¥	199,928	¥	135
Note:    The fair values are based on their market prices and others at the end of the period.

—11—

2. Other securities

	Millions of yen
March 31, 2023	Acquisition cost		Consolidated balance sheet amount		Net unrealized gains (losses)
Stocks	¥	1,225,266	¥	3,170,035	¥	1,944,768
Bonds		13,241,697		13,177,490		(64,206)
Japanese government bonds		9,612,731		9,576,298		(36,433)
Japanese local government bonds		1,106,877		1,087,625		(19,252)
Japanese corporate bonds		2,522,088		2,513,567		(8,521)
Other		15,490,127		15,524,713		34,586
Total	¥	29,957,091	¥	31,872,239	¥	1,915,148

Notes:	1.	Consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the fiscal year.
	2.	There were no net unrealized gains (losses) on other securities shown above for the fiscal year ended March 31, 2023 recognized in the earnings by applying fair value hedge accounting.

	Millions of yen
June 30, 2023	Acquisition cost		Quarterly consolidated balance sheet amount		Net unrealized gains (losses)
Stocks	¥	1,214,701	¥	3,563,577	¥	2,348,876
Bonds		11,892,536		11,840,620		(51,916)
Japanese government bonds		8,355,217		8,324,569		(30,648)
Japanese local government bonds		1,107,053		1,091,592		(15,460)
Japanese corporate bonds		2,430,265		2,424,458		(5,807)
Other		16,929,367		16,933,436		4,069
Total	¥	30,036,605	¥	32,337,634	¥	2,301,029

Notes:	1.	Quarterly consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the period.
	2.	There were no net unrealized gains (losses) on other securities shown above for the three months ended June 30, 2023 recognized in the earnings by applying fair value hedge accounting.

—12—

3. Write-down of securities

Bonds classified as held-to-maturity and other securities (excluding other securities whose quarterly consolidated balance sheet amounts are not measured at fair value) are considered as impaired if the fair value decreases materially below the acquisition cost and such decline is not considered as recoverable. The fair value is recognized as the quarterly consolidated balance sheet amount (consolidated balance sheet amount) and the amount of write-down is accounted for as valuation loss for the period. Valuation losses for the fiscal year ended March 31, 2023 and for the three months ended June 30, 2023 were ¥408 million and ¥2,281 million, respectively. The rule for determining “material decline” is as follows and is based on the classification of issuers under the rules of self-assessment of assets.

Bankrupt/Effectively bankrupt/Potentially bankrupt issuers:	Fair value is lower than acquisition cost.
Issuers requiring caution:	Fair value is 30% or lower than acquisition cost.
Normal issuers:	Fair value is 50% or lower than acquisition cost.

Bankrupt issuers: Issuers that are legally bankrupt or formally declared bankrupt.

Effectively bankrupt issuers: Issuers that are not legally bankrupt but regarded as substantially bankrupt.

Potentially bankrupt issuers: Issuers that are not bankrupt now, but are perceived to have a high risk of falling into bankruptcy.

Issuers requiring caution: Issuers that are identified for close monitoring.

Normal issuers: Issuers other than the above 4 categories of issuers.

(Notes to money held in trust)

1. Money held in trust classified as held-to-maturity

Fiscal year ended March 31, 2023

There were no corresponding transactions.

Three months ended June 30, 2023

There were no corresponding transactions.

2. Other money held in trust (other than trading purpose and held-to-maturity)

	Millions of yen
March 31, 2023	Acquisition cost		Consolidated balance sheet amount		Net unrealized gains (losses)
Other money held in trust	¥	312	¥	312	¥	—

Note:    Consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the fiscal year.

	Millions of yen
June 30, 2023	Acquisition cost		Quarterly consolidated balance sheet amount		Net unrealized gains (losses)
Other money held in trust	¥	312	¥	312	¥	—

Note:    Quarterly consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the period.

—13—

(Notes to derivative transactions)

(1) Interest rate derivatives

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Interest rate futures	¥	125,792,230	¥	864	¥	864
Interest rate options		262,114,996		34,682		34,682
Over-the-counter
Forward rate agreements		24,333,075		6,389		6,389
Interest rate swaps		1,037,172,904		(276,732)		(276,732)
Interest rate swaptions		57,632,399		7,779		7,779
Caps		121,706,005		(1,277,103)		(1,277,103)
Floors		17,747,718		15,902		15,902
Other		42,468,747		103,421		103,421
Total		/	¥	(1,384,794)	¥	(1,384,794)

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Interest rate futures	¥	163,483,639	¥	8,569	¥	8,569
Interest rate options		233,548,587		17,309		17,309
Over-the-counter
Forward rate agreements		31,952,285		9,306		9,306
Interest rate swaps		1,337,406,854		(505,228)		(505,228)
Interest rate swaptions		66,372,697		4,904		4,904
Caps		93,473,004		(1,017,387)		(1,017,387)
Floors		19,340,738		14,142		14,142
Other		91,114,193		(317,054)		(317,054)
Total		/	¥	(1,785,436)	¥	(1,785,436)

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

—14—

(2) Currency derivatives

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Currency futures	¥	1,114	¥	145	¥	145
Over-the-counter
Currency swaps		94,182,678		1,166,422		341,046
Currency swaptions		2,356,930		13,997		13,997
Forward foreign exchange		118,701,033		(148,148)		(148,148)
Currency options		8,566,312		(2,862)		(2,862)
Total		/	¥	1,029,554	¥	204,179

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above. In addition, transactions related to financial assets and liabilities denominated in foreign currencies and recognized in the consolidated balance sheets, or transactions related to financial assets and liabilities denominated in foreign currencies which had been eliminated in the consolidation were not included in the table above.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Currency futures	¥	1,351	¥	613	¥	613
Over-the-counter
Currency swaps		103,706,195		1,375,808		363,118
Currency swaptions		2,225,358		1,248		1,248
Forward foreign exchange		127,772,291		(103,034)		(103,034)
Currency options		9,270,185		(31,909)		(31,909)
Total		/	¥	1,242,726	¥	230,036

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above. In addition, transactions related to financial assets and liabilities denominated in foreign currencies and recognized in the quarterly consolidated balance sheets, or transactions related to financial assets and liabilities denominated in foreign currencies which had been eliminated in the consolidation were not included in the table above.

—15—

(3) Equity derivatives

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Equity price index futures	¥	1,362,290	¥	(5,229)	¥	(5,229)
Equity price index options		565,732		(8,401)		(8,401)
Over-the-counter
Equity options		240,985		17,044		17,044
Equity index forward contracts		146,368		12,566		12,566
Equity price index swaps		148,424		20,385		20,385
Other		9,371		(749)		(749)
Total		/	¥	35,616	¥	35,616

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Equity price index futures	¥	1,423,520	¥	(8,295)	¥	(8,295)
Equity price index options		631,112		(7,561)		(7,561)
Over-the-counter
Equity options		234,569		13,996		13,996
Equity index forward contracts		382,773		(24,070)		(24,070)
Equity price index swaps		99,669		9,678		9,678
Other		11,173		(966)		(966)
Total		/	¥	(17,219)	¥	(17,219)

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

—16—

(4) Bond derivatives

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Bond futures	¥	3,834,271	¥	(334)	¥	(334)
Bond futures options		41,551		51		51
Over-the-counter
Bond forward contracts		699		(1)		(1)
Bond options		363,066		(353)		(353)
Total		/	¥	(637)	¥	(637)

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Bond futures	¥	4,927,835	¥	1,747	¥	1,747
Bond futures options		111,238		(82)		(82)
Over-the-counter
Bond forward contracts		412		6		6
Bond options		487,338		1,290		1,290
Total		/	¥	2,961	¥	2,961

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

—17—

(5) Commodity derivatives

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Commodity futures	¥	25,427	¥	(839)	¥	(839)
Over-the-counter
Commodity swaps		73,009		2,127		2,127
Commodity options		31,050		(234)		(234)
Total		/	¥	1,053	¥	1,053

Notes:	1.	The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income. Derivative transactions to which the hedge accounting method was applied were not included in the table above.
	2.	Underlying assets of commodity derivatives were fuels and metals.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Listed
Commodity futures	¥	38,891	¥	(598)	¥	(598)
Over-the-counter
Commodity swaps		75,102		2,057		2,057
Commodity options		22,307		(189)		(189)
Total		/	¥	1,269	¥	1,269

Notes:	1.	The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income. Derivative transactions to which the hedge accounting method was applied were not included in the table above.
	2.	Underlying assets of commodity derivatives were fuels and metals.

(6) Credit derivative transactions

	Millions of yen
March 31, 2023	Contract amount		Fair value		Valuation     gains (losses)
Over-the-counter
Credit default options	¥	3,059,567	¥	969	¥	969
Total		/	¥	969	¥	969

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

	Millions of yen
June 30, 2023	Contract amount		Fair value		Valuation     gains (losses)
Over-the-counter
Credit default options	¥	3,051,282	¥	(2,968)	¥	(2,968)
Total		/	¥	(2,968)	¥	(2,968)

Note: The above transactions were valued at fair value and the valuation gains (losses) were accounted for in the quarterly consolidated statements of income.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

—18—

(Business combination)

There was no significant business combination to be disclosed.

(Revenue recognition)

Information on breakdown of revenues from contracts with customers.

	Millions of yen
Three months ended June 30	2022		2023
Ordinary income	¥	1,331,703	¥	2,273,292
Fees and commissions		336,330		390,147
Deposits and loans		55,979		69,843
Remittances and transfers		36,317		37,753
Securities-related business		29,887		42,895
Agency		2,264		2,361
Safe deposits		1,924		2,002
Guarantees		21,516		22,840
Credit card business		88,489		102,221
Investment trusts		38,196		39,900
Others		61,753		70,327

Note: Fees and commissions obtained through Deposits and loans principally arise in the Wholesale Business Unit and the Global Business Unit, Remittances and transfers principally arise in the Wholesale Business Unit, the Retail Business Unit, and the Global Business Unit, Securities-related business principally arise in the Wholesale Business Unit, the Retail Business Unit, and the Global Business Unit, Credit card business principally arise in the Retail Business Unit, and Investment trusts principally arise in the Retail Business Unit and Head office account and others. Income based on “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019) is also included in the table above.

—19—

(Per share data)

Earnings per share, earnings per share (diluted) and each calculation method were as follows:

	Millions of yen, except per share data and number of shares
Three months ended June 30	2022		2023
(i) Earnings per share	¥	184.14	¥	185.69
[The calculation method]
Profit attributable to owners of parent		252,439		248,016
Amount not attributable to common stockholders		—		—
Profit attributable to owners of parent attributable to common stock		252,439		248,016
Average number of common stock during the period (in thousands)		1,370,881		1,335,616
(ii) Earnings per share (diluted)	¥	184.08	¥	185.64
[The calculation method]
Adjustment for profit attributable to owners of parent		—		—
Adjustment of dilutive shares issued by consolidated subsidiaries and equity method affiliates		—		—
Increase in the number of common stock (in thousands)		500		408
Stock acquisition rights (in thousands)		500		408
Outline of dilutive shares which were not included in the calculation of “Earnings Per Share (diluted)” because they do not have dilutive effect and have significant changes from the fiscal year ended March 31, 2023:		—		—

(Significant subsequent events)

There were no significant subsequent events to be disclosed.

(Others)

Not applicable.

—20—