SUMITOMO MITSUI FINANCIAL GROUP
Unaudited Interim Consolidated Financial Statements as of and for the six months ended September 30, 2023
This document contains "forward-looking statements" (as defined in the U.S. Private Securities Litigation Reform Act of 1995), regarding the intent, belief or current expectations of Sumitomo Mitsui Financial Group, Inc. ("the Company") and its management with respect to the Company's future financial condition and results of operations. In many cases but not all, these statements contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "probability," "risk," "project," "should," "seek," "target," "will" and similar expressions. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those expressed in or implied by such forward-looking statements contained or deemed to be contained herein. The risks and uncertainties which may affect future performance include: deterioration of Japanese and global economic conditions and financial markets; declines in the value of the Company's securities portfolio; incurrence of significant credit-related costs; the Company's ability to successfully implement its business strategy through its subsidiaries, affiliates and alliance partners; and exposure to new risks as the Company expands the scope of its business. Given these and other risks and uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date of this document. The Company undertakes no obligation to update or revise any forward-looking statements. Please refer to the Company's most recent disclosure documents such as its annual report on Form 20-F and other documents submitted to the U.S. Securities and Exchange Commission, as well as its earnings press releases, for a more detailed description of the risks and uncertainties that may affect its financial conditions, its operating results, and investors' decisions.
UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (JAPANESE GAAP)
INTERIM CONSOLIDATED BALANCE SHEETS
Millions of | ||||||||
Millions of yen | U.S. dollars | |||||||
March 31, 2023 | September 30, 2023 | September 30, | ||||||
2023 | ||||||||
Assets: | ||||||||
Cash and due from banks | *5 | ¥ | 75,913,960 | *5 | ¥ | 77,411,258 | $ | 517,524 |
Call loans and bills bought | 5,684,812 | 6,088,010 | 40,701 | |||||
Receivables under resale agreements | 5,785,945 | 7,753,303 | 51,834 | |||||
Receivables under securities borrowing | ||||||||
transactions | 5,576,612 | 6,031,785 | 40,325 | |||||
Monetary claims bought | 5,558,287 | 5,427,975 | 36,288 | |||||
Trading assets | *2, *5 | 8,751,204 | *2, *5 | 11,127,530 | 74,392 | |||
Money held in trust | 12,957 | 13,149 | 88 | |||||
Securities | *1, *2, *3, *5, | 33,213,165 | *1, *2, *3, *5, | 40,431,009 | 270,297 | |||
*12 | *12 | |||||||
Loans and bills discounted | *3, *4, *5, *6 | 98,404,137 | *3, *4, *5, *6 | 102,448,793 | 684,910 | |||
Foreign exchanges | *3, *4 | 1,942,764 | *3, *4 | 2,238,431 | 14,965 | |||
Lease receivables and investment assets | 226,302 | 257,744 | 1,723 | |||||
Other assets | *3, *5 | 13,243,899 | *3, *5 | 17,311,905 | 115,737 | |||
Tangible fixed assets | *7, *8 | 1,494,527 | *7, *8 | 1,551,296 | 10,371 | |||
Intangible fixed assets | 897,848 | 939,136 | 6,278 | |||||
Net defined benefit asset | 704,654 | 725,072 | 4,847 | |||||
Deferred tax assets | 74,084 | 88,703 | 593 | |||||
Customers' liabilities for acceptances and | *3 | *3 | ||||||
guarantees | 13,693,771 | 14,605,432 | 97,643 | |||||
Reserve for possible loan losses | (750,369) | (725,472) | (4,850) | |||||
Total assets | ¥ | 270,428,564 | ¥ | 293,725,065 | $ | 1,963,665 |
―1―
(Continued)
Millions of | ||||||
Millions of yen | U.S. dollars | |||||
March 31, 2023 | September 30, 2023 | September 30, | ||||
2023 | ||||||
Liabilities and net assets: | ||||||
Liabilities: | ||||||
Deposits | *5 ¥ | 158,770,253 | *5 ¥ | 162,448,935 | $ | 1,086,034 |
Negotiable certificates of deposit | 13,025,555 | 13,772,058 | 92,072 | |||
Call money and bills sold | 2,569,055 | 2,161,557 | 14,451 | |||
Payables under repurchase agreements | *5 | 16,772,716 | *5 | 22,665,537 | 151,528 | |
Payables under securities lending transactions | *5 | 1,521,271 | *5 | 1,393,357 | 9,315 | |
Commercial paper | 2,349,956 | 2,093,812 | 13,998 | |||
Trading liabilities | 8,066,745 | 10,476,369 | 70,039 | |||
Borrowed money | *5, *9 | 13,674,830 | *5, *9 | 14,370,861 | 96,075 | |
Foreign exchanges | 1,465,847 | 2,277,501 | 15,226 | |||
Short-term bonds | 424,000 | 708,500 | 4,737 | |||
Bonds | *5, *10 | 10,365,003 | *5, *10 | 12,340,347 | 82,500 | |
Due to trust account | *5, *11 | 2,413,464 | *5, *11 | 2,111,631 | 14,117 | |
Other liabilities | 11,923,748 | 17,827,867 | 119,186 | |||
Reserve for employee bonuses | 96,254 | 69,112 | 462 | |||
Reserve for executive bonuses | 3,307 | ― | ― | |||
Net defined benefit liability | 35,449 | 36,041 | 241 | |||
Reserve for executive retirement benefits | 1,133 | 954 | 6 | |||
Reserve for point service program | 28,659 | 31,763 | 212 | |||
Reserve for reimbursement of deposits | 10,845 | 8,574 | 57 | |||
Reserve for losses on interest repayment | 128,378 | 112,267 | 751 | |||
Reserves under the special laws | 3,902 | 4,259 | 28 | |||
Deferred tax liabilities | 265,354 | 359,286 | 2,402 | |||
Deferred tax liabilities for land revaluation | *7 | 27,952 | *7 | 27,945 | 187 | |
Acceptances and guarantees | 13,693,771 | 14,605,432 | 97,643 | |||
Total liabilities | 257,637,458 | 279,903,979 | 1,871,266 | |||
Net assets: | ||||||
Capital stock | 2,342,537 | 2,344,038 | 15,671 | |||
Capital surplus | 694,052 | 685,660 | 4,584 | |||
Retained earnings | 7,423,600 | 7,586,692 | 50,720 | |||
Treasury stock | (151,798) | (17,721) | (118) | |||
Total stockholders' equity | 10,308,391 | 10,598,670 | 70,856 | |||
Net unrealized gains (losses) on other securities | 1,373,521 | 1,505,869 | 10,067 | |||
Net deferred gains (losses) on hedges | (13,293) | 61,996 | 414 | |||
Land revaluation excess | *7 | 35,005 | *7 | 35,041 | 234 | |
Foreign currency translation adjustments | 843,614 | 1,369,518 | 9,156 | |||
Accumulated remeasurements of defined | ||||||
benefit plans | 133,226 | 123,588 | 826 | |||
Total accumulated other comprehensive income | 2,372,074 | 3,096,013 | 20,698 | |||
Stock acquisition rights | 1,145 | 1,002 | 7 | |||
Non-controlling interests | 109,495 | 125,400 | 838 | |||
Total net assets | 12,791,106 | 13,821,086 | 92,399 | |||
Total liabilities and net assets | ¥ | 270,428,564 | ¥ | 293,725,065 | $ | 1,963,665 |
―2―
INTERIM CONSOLIDATED STATEMENTS OF INCOME
Millions of | |||||||
Millions of yen | U.S. dollars | ||||||
Six months ended September 30 | 2022 | 2023 | 2023 | ||||
Ordinary income | ¥ | 2,916,911 | ¥ | 4,482,985 | $ | 29,970 | |
Interest income | 1,533,167 | 2,923,705 | 19,546 | ||||
Interest on loans and discounts | 1,042,032 | 1,751,125 | 11,707 | ||||
Interest and dividends on securities | 216,433 | 305,920 | 2,045 | ||||
Trust fees | 3,044 | 3,784 | 25 | ||||
Fees and commissions | 703,822 | 804,513 | 5,378 | ||||
Trading income | 8,807 | 164,795 | 1,102 | ||||
Other operating income | 461,639 | 439,872 | 2,941 | ||||
Other income | *1 | 206,430 | *1 | 146,313 | 978 | ||
Ordinary expenses | 2,190,840 | 3,773,752 | 25,229 | ||||
Interest expenses | 659,577 | 2,035,952 | 13,611 | ||||
Interest on deposits | 230,104 | 800,847 | 5,354 | ||||
Fees and commissions payments | 115,529 | 119,549 | 799 | ||||
Trading losses | 111,252 | 229,906 | 1,537 | ||||
Other operating expenses | 191,766 | 133,937 | 895 | ||||
General and administrative expenses | *2 | 962,562 | *2 | 1,082,198 | 7,235 | ||
Other expenses | *3 | 150,152 | *3 | 172,207 | 1,151 | ||
Ordinary profit | 726,071 | 709,232 | 4,741 | ||||
Extraordinary gains | *4 | 378 | *4 | 168 | 1 | ||
Extraordinary losses | *5, *6 | 1,775 | *5, *6 | 3,014 | 20 | ||
Income before income taxes | 724,674 | 706,386 | 4,722 | ||||
Income taxes-current | 146,053 | 176,906 | 1,183 | ||||
Income taxes-deferred | 47,692 | 837 | 6 | ||||
Income taxes | 193,746 | 177,743 | 1,188 | ||||
Profit | 530,927 | 528,642 | 3,534 | ||||
Profit attributable to non-controlling interests | 5,500 | 2,176 | 15 | ||||
Profit attributable to owners of parent | ¥ | 525,427 | ¥ | 526,465 | $ | 3,520 |
―3―
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Millions of | ||||||
Millions of yen | U.S. dollars | |||||
Six months ended September 30 | 2022 | 2023 | 2023 | |||
Profit | ¥ | 530,927 | ¥ | 528,642 | $ | 3,534 |
Other comprehensive income (losses) | 174,433 | 729,123 | 4,874 | |||
Net unrealized gains (losses) on other securities | (668,609) | 126,098 | 843 | |||
Net deferred gains (losses) on hedges | 98,664 | 71,528 | 478 | |||
Foreign currency translation adjustments | 644,993 | 476,785 | 3,187 | |||
Remeasurements of defined benefit plans | (8,200) | (9,683) | (65) | |||
Share of other comprehensive income of affiliates | 107,585 | 64,394 | 431 | |||
Total comprehensive income | 705,361 | 1,257,766 | 8,409 | |||
Comprehensive income attributable to owners of parent | 697,209 | 1,250,368 | 8,359 | |||
Comprehensive income attributable to non-controlling interests | 8,151 | 7,397 | 49 |
―4―
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Millions of yen | ||||||||||||
Stockholders' equity | ||||||||||||
Capital | Capital | Retained | Treasury | |||||||||
Six months ended September 30, 2022 | stock | surplus | earnings | stock | Total | |||||||
Balance at the beginning of the period | ¥ | 2,341,878 | ¥ | 693,664 | ¥ | 6,916,468 | ¥ | (13,402) | ¥ | 9,938,608 | ||
Changes in the period | ||||||||||||
Issuance of new stock | 658 | 658 | 1,317 | |||||||||
Cash dividends | (143,936) | (143,936) | ||||||||||
Profit attributable to owners of parent | 525,427 | 525,427 | ||||||||||
Purchase of treasury stock | (34) | (34) | ||||||||||
Disposal of treasury stock | (45) | 320 | 274 | |||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | (270) | (270) | ||||||||||
Reversal of land revaluation excess | 12 | 12 | ||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | 45 | (45) | ― | |||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | ||||||||||||
Net changes in the period | 658 | 387 | 381,458 | 285 | 382,790 | |||||||
Balance at the end of the period | ¥ | 2,342,537 | ¥ | 694,052 | ¥ | 7,297,926 | ¥ | (13,116) | ¥ | 10,321,399 | ||
Millions of yen | ||||||||||||
Accumulated other comprehensive income | ||||||||||||
Net unrealized | Foreign | Accumulated | ||||||||||
gains (losses) | Net deferred | Land | currency | remeasurements | ||||||||
on other | gains (losses) | revaluation | translation | of defined | ||||||||
Six months ended September 30, 2022 | securities | on hedges | excess | adjustments | benefit plans | Total | ||||||
Balance at the beginning of the period | ¥ | 1,632,080 | ¥ | (80,061) | ¥ | 36,320 | ¥ | 450,143 | ¥ | 121,123 | ¥ | 2,159,606 |
Changes in the period | ||||||||||||
Issuance of new stock | ||||||||||||
Cash dividends | ||||||||||||
Profit attributable to owners of parent | ||||||||||||
Purchase of treasury stock | ||||||||||||
Disposal of treasury stock | ||||||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | ||||||||||||
Reversal of land revaluation excess | ||||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | ||||||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | (671,756) | 122,697 | (12) | 729,045 | (8,204) | 171,769 | ||||||
Net changes in the period | (671,756) | 122,697 | (12) | 729,045 | (8,204) | 171,769 | ||||||
Balance at the end of the period | ¥ | 960,324 | ¥ | 42,636 | ¥ | 36,307 | ¥ | 1,179,188 | ¥ | 112,919 | ¥ | 2,331,376 |
―5―
(Continued)
Millions of yen | ||||||
Stock | Non- | |||||
acquisition | controlling | Total | ||||
Six months ended September 30, 2022 | rights | interests | net assets | |||
Balance at the beginning of the period | ¥ | 1,475 | ¥ | 97,641 | ¥ | 12,197,331 |
Changes in the period | ||||||
Issuance of new stock | 1,317 | |||||
Cash dividends | (143,936) | |||||
Profit attributable to owners of parent | 525,427 | |||||
Purchase of treasury stock | (34) | |||||
Disposal of treasury stock | 274 | |||||
Changes in shareholders' interest due to | ||||||
transaction with non-controlling interests | (270) | |||||
Reversal of land revaluation excess | 12 | |||||
Transfer from retained earnings to capital | ||||||
surplus | ― | |||||
Net changes in items other than | ||||||
stockholders' equity in the period | (273) | 9,223 | 180,719 | |||
Net changes in the period | (273) | 9,223 | 563,510 | |||
Balance at the end of the period | ¥ | 1,201 | ¥ | 106,864 | ¥ | 12,760,842 |
―6―
(Continued)
Millions of yen | ||||||||||||
Stockholders' equity | ||||||||||||
Capital | Capital | Retained | Treasury | |||||||||
Six months ended September 30, 2023 | stock | surplus | earnings | stock | Total | |||||||
Balance at the beginning of the period | ¥ | 2,342,537 | ¥ | 694,052 | ¥ | 7,423,600 | ¥ | (151,798) | ¥ | 10,308,391 | ||
Changes in the period | ||||||||||||
Issuance of new stock | 1,501 | 1,500 | 3,001 | |||||||||
Cash dividends | (168,077) | (168,077) | ||||||||||
Profit attributable to owners of parent | 526,465 | 526,465 | ||||||||||
Purchase of treasury stock | (61,326) | (61,326) | ||||||||||
Disposal of treasury stock | (99) | 242 | 143 | |||||||||
Cancellation of treasury stock | (195,160) | 195,160 | ― | |||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | (9,892) | (9,892) | ||||||||||
Reversal of land revaluation excess | (35) | (35) | ||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | 195,259 | (195,259) | ― | |||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | ||||||||||||
Net changes in the period | 1,501 | (8,391) | 163,092 | 134,076 | 290,278 | |||||||
Balance at the end of the period | ¥ | 2,344,038 | ¥ | 685,660 | ¥ | 7,586,692 | ¥ | (17,721) | ¥ | 10,598,670 | ||
Millions of yen | ||||||||||||
Accumulated other comprehensive income | ||||||||||||
Net unrealized | Foreign | Accumulated | ||||||||||
gains (losses) | Net deferred | Land | currency | remeasurements | ||||||||
on other | gains (losses) | revaluation | translation | of defined | ||||||||
Six months ended September 30, 2023 | securities | on hedges | excess | adjustments | benefit plans | Total | ||||||
Balance at the beginning of the period | ¥ | 1,373,521 | ¥ | (13,293) | ¥ | 35,005 | ¥ | 843,614 | ¥ | 133,226 | ¥ | 2,372,074 |
Changes in the period | ||||||||||||
Issuance of new stock | ||||||||||||
Cash dividends | ||||||||||||
Profit attributable to owners of parent | ||||||||||||
Purchase of treasury stock | ||||||||||||
Disposal of treasury stock | ||||||||||||
Cancellation of treasury stock | ||||||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | ||||||||||||
Reversal of land revaluation excess | ||||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | ||||||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | 132,347 | 75,289 | 35 | 525,903 | (9,638) | 723,938 | ||||||
Net changes in the period | 132,347 | 75,289 | 35 | 525,903 | (9,638) | 723,938 | ||||||
Balance at the end of the period | ¥ | 1,505,869 | ¥ | 61,996 | ¥ | 35,041 | ¥ | 1,369,518 | ¥ | 123,588 | ¥ | 3,096,013 |
―7―
(Continued)
Millions of yen | ||||||
Stock | Non- | |||||
acquisition | controlling | Total | ||||
Six months ended September 30, 2023 | rights | interests | net assets | |||
Balance at the beginning of the period | ¥ | 1,145 | ¥ | 109,495 | ¥ | 12,791,106 |
Changes in the period | ||||||
Issuance of new stock | 3,001 | |||||
Cash dividends | (168,077) | |||||
Profit attributable to owners of parent | 526,465 | |||||
Purchase of treasury stock | (61,326) | |||||
Disposal of treasury stock | 143 | |||||
Cancellation of treasury stock | ― | |||||
Changes in shareholders' interest due to | ||||||
transaction with non-controlling interests | (9,892) | |||||
Reversal of land revaluation excess | (35) | |||||
Transfer from retained earnings to capital | ||||||
surplus | ― | |||||
Net changes in items other than | ||||||
stockholders' equity in the period | (142) | 15,905 | 739,701 | |||
Net changes in the period | (142) | 15,905 | 1,029,980 | |||
Balance at the end of the period | ¥ | 1,002 | ¥ | 125,400 | ¥ | 13,821,086 |
―8―
(Continued)
Millions of U.S. dollars | ||||||||||||
Stockholders' equity | ||||||||||||
Capital | Capital | Retained | Treasury | |||||||||
Six months ended September 30, 2023 | stock | surplus | earnings | stock | Total | |||||||
Balance at the beginning of the period | $ | 15,661 | $ | 4,640 | $ | 49,630 | $ | (1,015) | $ | 68,916 | ||
Changes in the period | ||||||||||||
Issuance of new stock | 10 | 10 | 20 | |||||||||
Cash dividends | (1,124) | (1,124) | ||||||||||
Profit attributable to owners of parent | 3,520 | 3,520 | ||||||||||
Purchase of treasury stock | (410) | (410) | ||||||||||
Disposal of treasury stock | (1) | 2 | 1 | |||||||||
Cancellation of treasury stock | (1,305) | 1,305 | ― | |||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | (66) | (66) | ||||||||||
Reversal of land revaluation excess | (0) | (0) | ||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | 1,305 | (1,305) | ― | |||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | ||||||||||||
Net changes in the period | 10 | (56) | 1,090 | 896 | 1,941 | |||||||
Balance at the end of the period | $ | 15,671 | $ | 4,584 | $ | 50,720 | $ | (118) | $ | 70,856 | ||
Millions of U.S. dollars | ||||||||||||
Accumulated other comprehensive income | ||||||||||||
Net unrealized | Foreign | Accumulated | ||||||||||
gains (losses) | Net deferred | Land | currency | remeasurements | ||||||||
on other | gains (losses) | revaluation | translation | of defined | ||||||||
Six months ended September 30, 2023 | securities | on hedges | excess | adjustments | benefit plans | Total | ||||||
Balance at the beginning of the period | $ | 9,183 | $ | (89) | $ | 234 | $ | 5,640 | $ | 891 | $ | 15,858 |
Changes in the period | ||||||||||||
Issuance of new stock | ||||||||||||
Cash dividends | ||||||||||||
Profit attributable to owners of parent | ||||||||||||
Purchase of treasury stock | ||||||||||||
Disposal of treasury stock | ||||||||||||
Cancellation of treasury stock | ||||||||||||
Changes in shareholders' interest due to | ||||||||||||
transaction with non-controlling interests | ||||||||||||
Reversal of land revaluation excess | ||||||||||||
Transfer from retained earnings to capital | ||||||||||||
surplus | ||||||||||||
Net changes in items other than | ||||||||||||
stockholders' equity in the period | 885 | 503 | 0 | 3,516 | (64) | 4,840 | ||||||
Net changes in the period | 885 | 503 | 0 | 3,516 | (64) | 4,840 | ||||||
Balance at the end of the period | $ | 10,067 | $ | 414 | $ | 234 | $ | 9,156 | $ | 826 | $ | 20,698 |
―9―
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Sumitomo Mitsui Financial Group Inc. published this content on 04 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2023 03:47:16 UTC.