Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Banking Corporation

 

Additional Acquisition of Shares and Consolidation of

Sumitomo Mitsui Asset ブックメーカー 合法 Company

 

 

Tokyo, May 12, 2016 --- Sumitomo Mitsui Banking Corporation (SMBC, President and CEO: Takeshi Kunibe) today reached an agreement with Sumitomo Life Insurance Company, Mitsui Sumitomo Insurance Company, Limited and Mitsui Life Insurance Company Limited (collectively, “Shareholders”) that SMBC will, subject to the relevant regulatory approvals, acquire an additional 20.0% of the outstanding shares of Sumitomo Mitsui Asset ブックメーカー 合法 Company, Limited (SMAM) from the Shareholders (the “Additional Acquisition”).

 

After the Additional Acquisition, SMAM ブックメーカー 合法 be a consolidated subsidiary of SMBC. In addition, Sumitomo Mitsui Financial Group, Inc (SMFG, President: Koichi Miyata) ブックメーカー 合法 acquire all outstanding shares of SMAM held by SMBC, and SMAM ブックメーカー 合法 be a directly owned subsidiary of SMFG, which is contemplated to take place in October 2016.

 

1. Purpose of the Additional Acquisition

 

Given the trend of “from savings to investment”, such as implementation of “Nippon Individual Saving Account” in January 2014, the asset ブックメーカー 合法 industry is growing year by year. In addition, due to the introduction of “Quantitative and Qualitative Monetary Easing” in April 2013 and “Quantitative and Qualitative Monetary Easing with a Negative Interest Rate” in February 2016 by Bank of Japan, we recognize increasing investor appetite for asset ブックメーカー 合法.  

The aim of the Additional Acquisition is to further enhance SMFG’s services to comprehensively meet its clients’ needs for asset ブックメーカー 合法.       

We will utilize various group-wide resources to grow SMAM to be chosen by clients for asset ブックメーカー 合法. Also, we will reinforce efforts to fulfill our fiduciary duty to provide enhanced customer-oriented investment services.

 

2. Overview of the Additional Acquisition

 

The shareholding ratio after the Additional Acquisition is described in the table below. The Additional Acquisition is contemplated to take place by the end of July 2016, subject to the relevant regulatory approvals.  

 

Note: The numbers in parentheses show the current shareholding ratios.

 

3. Future course of action

 

As part of efforts to fulfill its fiduciary duty, as stated previously, SMAM ブックメーカー 合法 be a directly owned subsidiary of SMFG.

 

[Corporate Profileof SMAM]

 

ブックメーカー 合法 Name                  :             Sumitomo Mitsui Asset ブックメーカー 合法 Company, Limited

Primary Business               :           Investment ブックメーカー 合法 (Discretionary/Advisory)

                                                        Investment Trust Fund ブックメーカー 合法

Location of Head Office      :             2-5-1 Atago, Minato-ku, Tokyo, Japan

Representative                    :             Kunio Yokoyama, President and CEO

Number of Employees         :             628 (as of March 1, 2016)

Assets Under ブックメーカー 合法 :             Approximately JPY 12,281 billion
(as of January 31, 2016)

 

End.