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 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of December 2024

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NO. 333-276219) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Sumitomo Mitsui Financial Group, Inc.
By:	/s/ Jun Okahashi
	Name: Jun Okahashi
	Title:   Executive Officer & General Manager, Financial Accounting  Dept.

Date:  December 27, 2024

Sumitomo Mitsui Financial Group, Inc.

Notice Regarding Submission of Interim Report on Form 6-K

to the U.S. Securities and Exchange Commission

TOKYO, December 27, 2024 --- Sumitomo Mitsui Financial Group, Inc. (the “Company,” President and Group Chief Executive Officer: Toru Nakashima) hereby announces that, on December 26, 2024 (Eastern Standard Time), the Company submitted an interim report on Form 6-K to the U.S. Securities and Exchange Commission (“SEC”).

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

Attachment:

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

This document contains a summary of the Company’s consolidated interim financial information under International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) that was disclosed in its interim report on Form 6-K submitted to the U.S. Securities and Exchange Commission on December 26, 2024. This document does not contain all of the information in the interim report on Form 6-K that may be important to you. You should read the entire interim report on Form 6-K carefully to obtain a comprehensive understanding of the Company’s business and financial data under IFRS and related issues.

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

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

Consolidated Statements of Financial Position (Unaudited)

(In millions)

	At March 31,			At September 30,
	2024			2024
Assets:
Cash and deposits with banks	¥	78,750,443		¥	74,548,831
Call loans and bills bought		5,336,280			4,333,608
Reverse repurchase agreements and cash collateral on securities borrowed		14,148,667			19,661,321
Trading assets		6,512,061			5,911,774
Derivative financial instruments		9,909,272			8,634,011
Financial assets at fair value through profit or loss		2,376,129			2,249,857
Investment securities		30,149,837			32,112,677
Loans and advances		121,716,465			118,780,427
Investments in associates and joint ventures		1,552,645			1,603,580
Property, plant and equipment		1,347,093			1,324,835
Intangible assets		1,025,548			1,051,327
Other assets		8,327,942			7,910,902
Current tax assets		61,175			25,839
Deferred tax assets		58,080			47,758
Total assets	¥	281,271,637		¥	278,196,747
Liabilities:
Deposits	¥	182,097,319		¥	178,508,958
Call money and bills sold		3,138,049			4,221,905
Repurchase agreements and cash collateral on securities lent		20,166,958			22,004,657
Trading liabilities		4,924,490			4,718,056
Derivative financial instruments		11,877,473			9,516,233
Financial liabilities designated at fair value through profit or loss		498,284			545,667
Borrowings		16,107,158			16,529,331
Debt securities in issue		14,075,084			13,147,317
Provisions		231,319			291,603
Other liabilities		11,025,782			11,782,176
Current tax liabilities		170,284			115,537
Deferred tax liabilities		680,339			444,675
Total liabilities		264,992,539			261,826,115
Equity:
Capital stock		2,344,038			2,345,961
Capital surplus		663,265			662,639
Retained earnings		7,769,222			7,828,663
Treasury stock		(167,671	)		(34,102	)
Equity excluding other reserves		10,608,854			10,803,161
Other reserves		4,070,834			3,751,932
Equity attributable to shareholders of Sumitomo Mitsui Financial Group, Inc.		14,679,688			14,555,093
Non-controlling interests		137,066			132,887
Equity attributable to other equity instruments holders		1,462,344			1,682,652
Total equity		16,279,098			16,370,632
Total equity and liabilities	¥	281,271,637		¥	278,196,747

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Consolidated Income Statements (Unaudited)

(In millions, except per share data)

	For the six months ended September 30,
	2023		2024
Interest income	¥	2,776,392	¥	3,342,131
Interest expense		1,887,450		2,157,113
Net interest income		888,942		1,185,018
Fee and commission income		690,715		788,350
Fee and commission expense		119,089		150,434
Net fee and commission income		571,626		637,916
Net trading income (loss)		487,524		(179,020	)
Net income (loss) from financial assets and liabilities at fair value through profit or loss		79,984		(10,731	)
Net investment income		61,733		72,343
Other income		57,734		47,052
Total operating income		2,147,543		1,752,578
Impairment charges on financial assets		130,253		105,062
Net operating income		2,017,290		1,647,516
General and administrative expenses		1,072,003		1,186,749
Other expenses		129,601		190,033
Operating expenses		1,201,604		1,376,782
Share of post-tax profit of associates and joint ventures		55,286		47,454
Profit before tax		870,972		318,188
Income tax expense		208,185		52,692
Net profit	¥	662,787	¥	265,496
Profit attributable to:
Shareholders of Sumitomo Mitsui Financial Group, Inc.	¥	651,127	¥	250,215
Non-controlling interests		5,891		2,127
Other equity instruments holders		5,769		13,154
Earnings per share(1):
Basic	¥	162.60	¥	63.75
Diluted		162.55		63.74

⁽¹⁾  As resolved by the board of directors on May 15, 2024, the Company implemented a stock split on its common stock with an effective date of October 1, 2024, whereby each share of common stock owned by shareholders listed or recorded in the closing register of shareholders on the record date of September 30, 2024 was split into three shares. Basic and diluted earnings per share are calculated based on the assumption that the stock split had been implemented at the beginning of the year ended March 31, 2024.

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Consolidated Statements of Comprehensive Income (Unaudited)

(In millions)

	For the six months ended September 30,
	2023			2024
Net profit	¥	662,787		¥	265,496
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans:
Gains (losses) arising during the period, before tax		(6,886	)		10,356
Equity instruments at fair value through other comprehensive income:
Gains (losses) arising during the period, before tax		760,840			(291,120)
Own credit on financial liabilities designated at fair value through profit or loss:
Gains (losses) arising during the period, before tax		(7,589	)		2,747
Share of other comprehensive income (loss) of associates and joint ventures		1,790			675
Income tax relating to items that will not be reclassified		(223,425	)		83,756
Total items that will not be reclassified to profit or loss, net of tax		524,730			(193,586)
Items that may be reclassified subsequently to profit or loss:
Debt instruments at fair value through other comprehensive income:
Gains (losses) arising during the period, before tax		(484,785	)		303,502
Reclassification adjustments for (gains) losses included in net profit, before tax		45,420			(50,202)
Exchange differences on translating foreign operations:
Gains (losses) arising during the period, before tax		487,098			(125,705)
Share of other comprehensive income (loss) of associates and joint ventures		33,910			45,804
Income tax relating to items that may be reclassified		132,461			(77,513)
Total items that may be reclassified subsequently to profit or loss, net of tax		214,104			95,886
Other comprehensive income (loss), net of tax		738,834			(97,700)
Total comprehensive income	¥	1,401,621		¥	167,796
Total comprehensive income attributable to:
Shareholders of Sumitomo Mitsui Financial Group, Inc.	¥	1,386,696		¥	152,920
Non-controlling interests		9,156			1,722
Other equity instruments holders		5,769			13,154

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