6-K 1 d96279d6k.htm FORM 6-K FORM 6-K

 

 

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 December 2020

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   Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

   

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

   

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

  Yes ☐   No ☒

*If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

  82-                  


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/ Masahiko Tsutsui

 

Name:  Masahiko Tsutsui

 

Title:    General Manager, Financial Accounting Dept.

Date:      December 24, 2020


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 24, 2020 --- Sumitomo Mitsui Financial Group, Inc. (the “Company,” President and Group Chief Executive Officer: Jun Ohta) hereby announces that, on December 23, 2020 (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 (“IFRS”) as issued by the International Accounting Standards Board that was disclosed in its interim report on Form 6-K submitted to the U.S. Securities and Exchange Commission on December 23, 2020. 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.

   

 

– 1 –


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

Consolidated Statements of Financial Position (Unaudited)

 

            (In millions)
     At March 31,     At September 30,  
      2020     2020  

  Assets:

    

Cash and deposits with banks

   ¥       62,471,453     ¥           69,315,682  

Call loans and bills bought

     898,256       2,347,828  

Reverse repurchase agreements and cash collateral on securities borrowed

     13,745,996       9,265,268  

Trading assets

     2,785,016       2,551,814  

Derivative financial instruments

     6,279,801       5,458,185  

Financial assets at fair value through profit or loss

     1,478,356       1,119,531  

Investment securities

     21,864,386       24,353,970  

Loans and advances

     94,671,818       95,958,431  

Investments in associates and joint ventures

     826,736       798,825  

Property, plant and equipment

     1,764,611       1,729,799  

Intangible assets

     835,477       834,990  

Other assets

     4,272,630       5,193,805  

Current tax assets

     161,729       24,344  

Deferred tax assets

     102,198       31,596  

Total assets

   ¥ 212,158,463     ¥ 218,984,068  

  Liabilities:

    

Deposits

   ¥ 138,431,418     ¥ 148,886,755  

Call money and bills sold

     3,740,540       1,240,693  

Repurchase agreements and cash collateral on securities lent

     15,455,782       13,221,950  

Trading liabilities

     2,018,484       1,713,338  

Derivative financial instruments

     5,555,201       4,604,721  

Financial liabilities designated at fair value through profit or loss

     —         99,730  

Borrowings

     17,121,362       17,877,507  

Debt securities in issue

     10,985,048       11,868,264  

Provisions

     200,053       197,680  

Other liabilities

     7,601,355       7,435,224  

Current tax liabilities

     48,159       43,071  

Deferred tax liabilities

     66,183       206,554  

Total liabilities

     201,223,585       207,395,487  

  Equity:

    

Capital stock

     2,339,965       2,341,274  

Capital surplus

     728,551       728,171  

Retained earnings

     5,609,854       5,815,295  

Treasury stock

     (13,984     (13,693

Equity excluding other reserves

     8,664,386       8,871,047  

Other reserves

     1,525,720       1,869,435  

Equity attributable to shareholders of Sumitomo Mitsui Financial Group, Inc.

     10,190,106       10,740,482  

Non-controlling interests

     60,296       63,477  

Equity attributable to other equity instruments holders

     684,476       784,622  

Total equity

     10,934,878       11,588,581  

  Total equity and liabilities

   ¥ 212,158,463     ¥ 218,984,068  

 

– 2 –


Consolidated Income Statements (Unaudited)

(In millions, except per share data)

 

   

For the six months ended

September 30,

 
     2019     2020  

  Interest income

  ¥ 1,236,043     ¥ 939,921    

  Interest expense

    584,973       242,059    

  Net interest income

    651,070       697,862    

  Fee and commission income

    562,875       542,388    

  Fee and commission expense

    104,620       99,774    

  Net fee and commission income

    458,255       442,614    

  Net trading income

    86,323       114,571    

  Net income from financial assets and liabilities at fair value through profit or loss

    29,678       107,224    

  Net investment income

    131,683       135,721    

  Other income

    89,635       63,636    

  Total operating income

    1,446,644       1,561,628    

  Impairment charges on financial assets

    48,634       245,319    

  Net operating income

    1,398,010       1,316,309    

  General and administrative expenses

    835,880       799,242    

  Other expenses

    196,647       92,269    

  Operating expenses

    1,032,527       891,511    

  Share of post-tax profit of associates and joint ventures

    13,697       9,393    

  Profit before tax

    379,180       434,191    

  Income tax expense

    111,714       108,814    

  Net profit

  ¥               267,466     ¥              325,377    

  Profit attributable to:

   

Shareholders of Sumitomo Mitsui Financial Group, Inc.

  ¥ 249,415     ¥ 316,382    

Non-controlling interests

    12,076       2,566    

Other equity instruments holders

    5,975       6,429    

  Earnings per share:

   

Basic

  ¥ 180.64     ¥ 230.94    

Diluted

    180.52       230.82    

 

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Consolidated Statements of Comprehensive Income (Unaudited)

 

      (In millions)
   

For the six months ended

September 30,

 
     2019     2020  

  Net profit

  ¥ 267,466     ¥ 325,377     

  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

    10,624       168,202     

Equity instruments at fair value through other comprehensive income:

   

Gains (losses) arising during the period, before tax

    (46,517     530,585     

Own credit on financial liabilities designated at fair value through profit or loss:

   

Gains (losses) arising during the period, before tax

    —         (782)    

Share of other comprehensive income (loss) of associates and joint ventures

    762       2,828     

Income tax relating to items that will not be reclassified

    11,026       (213,008)    

Total items that will not be reclassified to profit or loss, net of tax

    (24,105     487,825     

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

    176,477       24,652     

Reclassification adjustments for (gains) losses included in net profit, before tax

    (92,317     (104,141)    

Exchange differences on translating foreign operations:

   

Gains (losses) arising during the period, before tax

    (70,015     (55,848)    

Reclassification adjustments for (gains) losses included in net profit, before tax

    —         1,313     

Share of other comprehensive income (loss) of associates and joint ventures

    (2,707     (8,110)    

Income tax relating to items that may be reclassified

    (24,688     24,290     

Total items that may be reclassified subsequently to profit or loss, net of tax

    (13,250     (117,844)    

  Other comprehensive income (loss), net of tax

    (37,355     369,981     

  Total comprehensive income

  ¥              230,111     ¥              695,358     

  Total comprehensive income attributable to:

   

Shareholders of Sumitomo Mitsui Financial Group, Inc.

  ¥              212,732     ¥              686,159     

Non-controlling interests

    11,404       2,770     

Other equity instruments holders

    5,975       6,429     

 

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