Harris Associates L.P. was founded in 1976 by dedicated investment professionals who believed that delivering successful investment results for clients requires a consistent investment philosophy, a commitment to superior investment research and a high level of customer service. Our roster of clients has grown over the years, but these basic beliefs remain unchanged. We are value investors who believe that, over time, the price of a stock will rise to reflect the value of the underlying company. In construc ...

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Company Overview - Adani Energy Solutions Ltd., controlled by Indian billionaire Gautam Adani, secured a $750 million loan led by Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Banking Corp. [1][2] - The loan is dollar-denominated with a five-year tenor, priced about 200 basis points over the benchmark Secured Overnight Financing Rate [2]. Industry Trends - The financing reflects the increasing interest of Japanese firms in India's rapidly growing economy, particularly in the financial services sector [3]. - Japanese banks have been significant lenders to Adani Group companies, maintaining their relationships even amid reassessments by other lenders [4]. Financial Strategy - Adani Group plans to raise up to $1.5 billion in yen-denominated debt over the next year and a half to diversify its financing sources [4]. - Proceeds from the recent loan will fund a high voltage direct current transmission project to transport solar power from Rajasthan to Uttar Pradesh, aligning with India's clean energy goals [5]. Future Outlook - The borrowing may be refinanced later through different currencies or types of debt, such as a US private placement [6]. - Japan Credit Rating Agency rated Adani Energy Solutions BBB+ with a stable outlook [6].

Core Viewpoint - Japan's largest banks, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG), plan to increase their holdings of Japanese government bonds (JGBs) as rising interest rates offer higher returns, despite facing unrealized losses on existing bond portfolios [1][4]. Group 1: Bank Strategies and Holdings - MUFG reported unrealized losses of 200 billion yen ($1.3 billion) on its bond portfolio at the end of the year, up from 40 billion yen at the end of March, indicating a significant increase in losses due to rising yields [4]. - SMFG's unrealized losses on JGBs more than doubled to 98 billion yen over nine months to the end of December, reflecting a similar trend in bond valuation losses [5]. - Both banks have historically reduced their JGB holdings over the past decade due to the Bank of Japan's ultra-low interest rate policy, which resulted in low returns [1][4]. Group 2: Market Conditions and Future Outlook - A sharp increase in JGB yields since November, driven by government spending plans, initially impacted bond values, but recent debt auctions have shown resilient demand, with 30-year JGB yields falling 32 basis points since their peak of 3.88% on January 20 [2]. - MUFG's managing director indicated a cautious approach to rebuilding JGB positions, suggesting that long-term interest rates may be peaking [3]. - Analysts believe that substantial purchases of longer-duration bonds may be delayed due to potential further rate hikes by the Bank of Japan and concerns regarding Japan's large debt burden [7].

Table of Contents 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 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2026 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 ...

Overview of 3Q FY3/2026 January 30, 2026 Copyright © 2026 Sumitomo Mitsui Financial Group. All Rights Reserved. Definitions 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. This document also contains "sustainability stat ...

Group 1 - The core viewpoint of the articles indicates that Japanese government bond yields have recently experienced fluctuations, with a notable decline from historical highs, as investors await the Bank of Japan's interest rate decision and potential hawkish statements from Governor Kazuo Ueda [1][2][3] - The 10-year Japanese government bond yield fell by 4 basis points to 2.24%, while the 30-year yield decreased by 10 basis points to 3.67%, reflecting a rebound after excessive selling earlier in the week [1] - UBS reports that the rise in Japanese bond yields is primarily driven by market expectations of future interest rate increases and an increase in term premiums, with the 30-year yield rising over 40 basis points since the beginning of the year [2] Group 2 - Foreign investors have significantly reduced their holdings in the Japanese bond market, nearly halving their investments as global yields rise, while the Bank of Japan's share of outstanding bonds has fallen below 50% for the first time in eight years [2] - UBS suggests that if the Bank of Japan responds hawkishly to fiscal expansion, the yield curve for 10 to 30-year bonds may flatten, potentially providing better entry points for investors after uncertainties surrounding elections and monetary policy are resolved [3] - Sumitomo Mitsui Trust Bank plans to double its domestic sovereign debt holdings once market yields stabilize, currently holding approximately 10.6 trillion yen (about 67 billion USD) [3]

Core Viewpoint - Sumitomo Mitsui Financial Group plans to significantly increase its domestic sovereign debt holdings after market yields stabilize, indicating a strategic shift back to Japanese government bonds from foreign bonds [1][4]. Group 1: Investment Strategy - The bank intends to double its current Japanese government bond portfolio from 10.6 trillion yen (approximately 67 billion USD) [1]. - The current focus is on Japanese government bonds (JGBs), moving away from foreign bond investments, which were previously prioritized [4]. - The bank has already begun purchasing some 30-year bonds, believing their prices are close to fair value, but remains cautious due to inflation risks and uncertainties ahead of elections [3][4]. Group 2: Market Conditions - The Japanese bond market recently experienced a sharp sell-off, with long-term yields reaching record highs due to concerns over fiscal policies ahead of the February elections and the Bank of Japan's reduction in large-scale bond purchases [1][5]. - The 20-year government bond yield fell by 10 basis points to 3.245%, while the benchmark 10-year bond yield decreased by 5 basis points to 2.290% [1]. Group 3: Future Predictions - Nagata predicts that the Nikkei 225 index will surpass 60,000 points by the end of the year, and the yen may weaken to 180 yen per dollar in the coming years [3][8]. - The bank expects the 10-year Japanese government bond yield to exceed 2.5% by year-end, with a fair value range between 2.5% and 3% [4]. Group 4: Broader Economic Context - The recent sell-off in the bond market complicates the Bank of Japan's policy path, with expectations of potential interest rate hikes to address yen weakness [7]. - Nagata anticipates that the Bank of Japan may raise rates three times this year, exceeding general market expectations [7].

来源：金融界AI电报 三井住友金融集团全球市场主管Arihiro Nagata表示，在全面重返日本国债市场后，该集团准备将其日 本国债投资组合增加到目前10.6万亿日元(670亿美元)的两倍。"我以前一直很喜欢投资外国债券，但现 在不了。现在我投资的是日本国债，"Nagata说道。他还对日本市场做出了一些引人注目的预测，包括 未来几年日元兑美元汇率可能达到180，以及日经225指数到今年年底可能从目前的53000点以下攀升至 60000点以上。他预计日本10年期国债收益率将在今年年底前超过2.5%，并认为其合理区间在2.5%至3% 之间。 ...

Core Viewpoint - Sumitomo Mitsui Financial Group plans to significantly increase its investment in Japanese government bonds following a recent surge in bond yields, aiming to double its current portfolio size of 10.6 trillion yen (approximately 67 billion USD) [1][3]. Group 1: Investment Strategy - The company intends to build a substantial position in Japanese government bonds after the recent spike in yields [1][3]. - The global market head of Sumitomo Mitsui, Nagata Yuki, indicated that the investment portfolio could reach twice its current size once fully established [1][3]. Group 2: Market Conditions - Japanese government bond prices fell sharply, with long-term yields reaching historical highs, raising concerns among investors about Prime Minister Kishi's fiscal policies ahead of upcoming elections [1][3]. - The Bank of Japan's gradual exit from large-scale bond purchasing has led to rising yields, prompting speculation about when major institutions would re-enter the Japanese bond market [1][3]. Group 3: Future Predictions - Nagata Yuki expressed a shift in focus from overseas bonds to Japanese government bonds, predicting that the USD/JPY exchange rate could reach 180 in the coming years [2][4]. - The forecast for the Nikkei 225 index suggests it may rise above 60,000 points by the end of the year, up from just under 53,000 points currently [2][4]. - The expected yield for 10-year Japanese government bonds is projected to exceed 2.5% by year-end, with a reasonable range estimated between 2.5% and 3% [2][4].