ブックメーカー オッズ Chapter 2
The Birth of ブックメーカー オッズ and SMFG

1. ブックメーカー オッズ birth of Sumitomo Mitsui Banking Corporation

On April 1, 2001, Sumitomo Mitsui Banking Corporation (ブックメーカー オッズ) was launched. Akishige Okada became chairman of the board, and Yoshifumi Nishikawa became president. In his inaugural address to officers and employees of the new bank, Nishikawa called for their united and continuous efforts to establish “Sumitomo Mitsui as the most trusted brand.”

On April 8, in ブックメーカー オッズ first general managers’ meeting, ブックメーカー オッズ new president presented ブックメーカー オッズ three key management issues of ブックメーカー オッズ new bank: 1) significant improvement of ブックメーカー オッズ balance sheet (substantial reduction of non-performing loans outstanding, decrease of cross-shareholdings, enhancement of equity capital); 2) ブックメーカー オッズ expansion of gross profit through a business-style transformation; and 3) thorough cost cuts through unconventional approaches.

ブックメーカー オッズ was established when Japan’s financial sector was facing challenging conditions. The country’s economic slowdown was prolonged, and the government’s policies aimed at resolving the bad loan problem by urging major banks to duly clear their non-performing loans. In this situation, the new bank embarked on a “voyage on a stormy ocean,” as described by Nishikawa, while harboring a bright future vision.