sumitomo mitsui-spons adr
(SMFG:New York)
sumitomo mitsui-spons adr (SMFG) Snapshot
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Open
$8.24
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Previous Close
$8.66
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Day High
$8.31
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Day Low
$8.19
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52 Week High
05/13/13 - $9.96
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52 Week Low
07/20/12 - $5.55
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Market Cap
58.6B
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Average Volume 10 Days
2.8M
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EPS TTM
--
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Shares Outstanding
7.1B
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EX-Date
03/26/13
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P/E TM
--
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Dividend
$0.24
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Dividend Yield
1.47%
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Related News
sumitomo mitsui-spons adr (SMFG) Related Businessweek News
sumitomo mitsui-spons adr (SMFG) Details
Sumitomo Mitsui Financial Group, Inc., through its subsidiaries, provides various banking and financial products and services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates in four segments: Commercial Banking, Securities, Leasing, and Credit Card. The Commercial Banking segment offers various financial services, including personal bank accounts, investment trusts, pension-type insurance products, life insurance products, and housing loans to individuals; and lending, cash management, settlement, leasing, factoring, management information systems consulting, collection, and investment banking services to mid-sized companies, and small- and medium-sized enterprises. It also provides various financial services, such as loans, deposits, and settlement services, as well as loan syndication, structured finance, commitment lines, and non-recourse loans to large corporations and listed companies; international banking services comprising project finance, loan syndication, and global cash management services; and services related to foreign exchange, securities, and derivatives. The Securities segment offers various financial products; investment consultation; and trading capabilities, debt and equity underwriting, and mergers and acquisitions advisory services, as well as administration services to its individual and corporate customers in Japan. The Leasing segment provides various leasing services, including equipment lease, operating lease, leveraged lease, and aircraft operating lease. The Credit Card segment provides various credit cards; and settlement and financing services primarily related to credit card transactions. Sumitomo Mitsui Financial Group, Inc. is headquartered in Tokyo, Japan.
sumitomo mitsui-spons adr (SMFG) Top Compensated Officers
sumitomo mitsui-spons adr (SMFG) Key Developments
Sumitomo Mitsui Financial Group Inc. declared ordinary dividend of ¥60 per share and commemorative dividend of ¥10 per share for the fourth quarter ended March 31, 2013, payable on June 27, 2013. The company provided dividend guidance of ¥55 per share for the second quarter and fourth quarter of 2014 as compared to ¥60 per share declared in the fourth quarter of 2013.
Sumitomo Mitsui Financial Group Inc. reported consolidated and non-consolidated earnings results for the year ended March 31, 2013. For the year, on consolidated basis, reported ordinary income of JPY 4,326,424 million, ordinary profit of JPY 1,073,745 million and net income of JPY 794,059 million as compared to ordinary income of JPY 3,945,282 million, ordinary profit of JPY 935,571 million and net income of JPY 518,536 million for the same period a year ago. Diluted net income per share was JPY 585.94 compared to JPY 373.99 a year ago. Return on net assets was 13.7% compared to 10.3% a year ago. The company generated JPY 91.5 billion in cash flows from operating activities, a year-on-year decrease of JPY 1,746.7 billion. Income before income taxes and minority interests was JPY 1,064,033 million compared to JPY 952,966 million a year ago. Purchases of tangible fixed assets were JPY 291,609 million compared to JPY 131,154 million a year ago. Purchases of intangible fixed assets were JPY 106,291 million compared to JPY 101,447 million a year ago. For the year, on non-consolidated basis, reported ordinary income of JPY 179,560 million, operating profit of JPY 155,219 million and net income of JPY 147,981 million as compared to ordinary income of JPY 181,372 million, operating profit of JPY 156,470 million and net income of JPY 149,919 million for the same period a year ago. Diluted net income per share was JPY 104.89 compared to JPY 107.04 a year ago. Return on net assets was 13.7% compared to 10.3% a year ago. The company provided earnings guidance for the six months ending September 30, 2013 and fiscal year ending March 31, 2014. For the six months ending September 30, 2013, the company expects ordinary profit of JPY 530,000 million and net income of JPY 290,000 million and JPY 214.20 per share. For the fiscal year ending March 31, 2014, the company expects ordinary profit of JPY 1,030,000 million and net income of JPY 580,000 million and JPY 428.40 per share.
Sumitomo Mitsui Financial Group Inc. announced that the company's board of directors resolved at a meeting held on May 15, 2013 that a proposal concerning partial amendments to the company's Articles of Incorporation shall be made at the 11th Ordinary General Meeting of Shareholders and the Class Meeting for Common Shareholders scheduled to be held on June 27, 2013. Partial amendments to the Articles of Incorporation are proposed as stated below for the purposes of; deleting the provisions regarding preferred stocks that have become unnecessary, and adopting to the global regulatory framework (referred to as 'Basel III') as agreed upon by the Basel Committee on Banking Supervision (a committee consisting of financial regulatory authorities of major countries) which includes the tightening of capital adequacy requirements. Articles 6, 7, 15 and 18 of the existing Articles of Incorporation will be amended to delete the provisions regarding the type 6 preferred stocks that have become unnecessary and to reduce the total number of authorized shares. Based on the notification of the Financial Services Agency which reflects Basel III, the new capital adequacy requirements have been applicable in Japan since March 31, 2013. In order to include preferred stocks in the company's regulatory capital under the new Japanese requirements, it is necessary to include provisions in the company's Articles of Incorporation to the effect that it acquires outstanding preferred stocks, without consideration or in exchange for common stocks, when it becomes non-viable. Accordingly, the provisions of Paragraph 2 shall be newly established in Article 18 of the existing Articles of Incorporation in order to enable the company to include preferred stocks in its regulatory capital in accordance with the new requirements in cases where it has issued preferred stocks. The acquisition of preferred stocks under this paragraph will be limited to cases when the company becomes non-viable; therefore a dilution of common stock will not take place during normal circumstances. There are no other changes in the contents of the preferred stocks. At this time, no preferred stocks are outstanding and the company currently has no plans to issue any preferred stocks. The provisions of the Articles of Incorporation will be amended solely for the purpose of adopting to the new requirements.
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Industry Analysis
SMFG
Industry Average
| Valuation | SMFG | Industry Range |
| Price/Earnings | 6.7x |
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| Price/Sales | 1.4x |
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| Price/Book | 0.8x |
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| Price/Cash Flow | 7.0x |
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| TEV/Sales | NM | Not Meaningful |
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