Investors interested in Banks - Foreign stocks are likely familiar with Sumitomo Mitsui (SMFG) and ICICI Bank Limited (IBN) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets comp ...

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We are exposed to potential losses resulting from fraud, misconduct and other unlawful behavior by directors, officers and employees. Directors, officers and employees may bind us to transactions that exceed authorized limits or present unacceptable risks, hide from us and from our customers unauthorized activities, improperly use confidential information or otherwise abuse customer confidences. Third parties may engage in fraudulent activities, including fraudulent use of bank accounts or the use of false ...

Loan and Asset Management - The total reserve for possible loan losses related to Russia was recorded at ¥85,553 million[11]. - The total amount of loans classified as bankrupt and quasi-bankrupt increased from ¥92,941 million in 2023 to ¥160,186 million in 2024, representing a growth of 72.5%[19]. - The total amount of normal loans rose from ¥115,139,286 million in 2023 to ¥125,031,630 million in 2024, an increase of approximately 8%[19]. - The total impairment loss on idle assets was recorded at ¥59,842 million for the fiscal year ended March 31, 2023[27]. - The company reported trading liabilities of ¥4,921,315 million, reflecting a stable financial position[77]. - The company conducts regular loan reviews to manage non-performing loans and potential non-performing loans, enhancing loan security and supporting business recoveries[121]. - Total monetary claims increased from ¥38,504,642 million as of March 31, 2023, to ¥44,061,034 million as of March 31, 2024, representing a growth of approximately 14.3%[166]. - Loans and bills discounted rose from ¥24,562,475 million to ¥28,370,239 million, marking an increase of approximately 11.0%[166]. Financial Performance and Valuation - The net unrealized gains on other securities improved significantly from a loss of ¥252,078 million in 2023 to a gain of ¥1,024,910 million in 2024[35]. - The total other comprehensive income surged from ¥215,388 million in 2023 to ¥1,661,035 million in 2024, showcasing a substantial improvement[35]. - The company reported a net unrealized gain of ¥3,393,095 million for the fiscal year ended March 31, 2024, compared to a net unrealized gain of ¥1,915,148 million in 2023[44]. - The company reported valuation losses of ¥408 million for the fiscal year ended March 31, 2023, and ¥42,081 million for the fiscal year ended March 31, 2024, highlighting a significant increase in impairment[174]. - The total sales amount for other securities sold in the fiscal year ended March 31, 2024, was ¥14,328,322 million, with gains on sales amounting to ¥358,040 million[170]. Securities and Derivatives - The total amount of securities pledged rose from ¥7,694,727 million in 2023 to ¥9,174,753 million in 2024, reflecting an increase of 19.3%[18]. - Total valuation losses for interest rate futures amounted to ¥966,966 million[38]. - The total contract amount for currency derivatives was ¥1,029,554 million, with valuation gains of ¥204,179 million[39]. - The total amount of interest rate swaps was ¥824,325,850 million, with net valuation losses of ¥304,791 million[38]. - The total derivative transactions resulted in a loss of ¥1,739,642 million, indicating exposure to market risks[77]. - The total valuation loss for all derivatives was ¥1,384,794 million[158]. - The total derivative transactions resulted in a loss of ¥1,661,170 million, primarily due to interest rate derivatives[184]. Risk Management - The company has established a comprehensive risk management framework to monitor credit, market, and liquidity risks[89][90]. - The liquidity risk management framework includes contingency plans and quantitative benchmarks to ensure funding stability[97]. - The Corporate Risk Management Department and Risk Management Information Department manage market and liquidity risks in an integrated manner, reporting regularly to the Management Committee and the Audit Committee[122]. - The Company has established guidelines for managing marketable credit risk, which includes credit risk, market risk, and liquidity risk associated with financial products[121]. - The Internal Audit Department performs periodic audits to ensure the risk management framework is functioning properly[122]. Financial Position and Capital - Total assets amounted to ¥41,519,046 million, with a significant increase in trading assets to ¥6,486,298 million[77]. - Total assets grew from ¥55,135,341 million to ¥59,430,145 million, indicating an increase of around 7.0%[166]. - The company has a total of ¥164,841,513 million in deposits, with a slight increase of ¥2,155 million from the previous period[103]. - The total consolidated balance sheet amount as of March 31, 2024, is ¥35,441,147 million, an increase from ¥31,872,239 million as of March 31, 2023[44]. - The number of shares issued at the end of the fiscal year was 1,337,529,084, after an increase of 477,890 shares[79]. - The company paid dividends totaling ¥301,626 million for the fiscal year, with dividends per share at ¥220[78]. Accounting and Reporting - The company is currently assessing the effects of new accounting standards related to current income taxes and comprehensive income, which may impact future financial reporting[9]. - The company has applied deferred hedge accounting for derivative transactions, following the "Practical Solution on the Treatment of Hedge Accounting for Financial Instruments that Reference LIBOR"[99]. - The fair values of derivative transactions are calculated based on the present value of estimated future cash flows, with significant unobservable inputs affecting the valuation[146]. - The fair value of monetary claims bought is ¥5,603,840 million, with a difference of ¥72,530 million from the consolidated balance sheet amount of ¥5,531,310 million[103].

Economic Indicators - The Japanese economy showed signs of recovery with a GDP increase of 0.9% in Q1 FY2024, driven by rising exports due to easing supply chain constraints[15]. - The unemployment rate in Japan decreased to 2.6% in September 2023, down 0.2 percentage points from March 2023[18]. - The Japanese GDP is projected to grow by 6.2% for the fiscal year ending March 31, 2024, and 2.6% for the fiscal year ending March 31, 2025[115]. Corporate Bankruptcies - There were approximately 4,200 corporate bankruptcies in Japan for the six months ended September 30, 2023, an increase of 34.7% year-over-year, involving total liabilities of approximately ¥1.6 trillion, a decrease of 10.1% from the previous year[19]. Currency and Interest Rates - The yen depreciated against the U.S. dollar from ¥133.13 at March 31, 2023, to ¥148.77 at September 29, 2023[21]. - The yield on newly issued 10-year Japanese government bonds was around 0.7% as of September 29, 2023[20]. - The Bank of Japan maintained a negative interest rate of minus 0.1% on certain excess reserves, continuing its monetary easing policy[20]. Financial Performance - Total operating income decreased by ¥15,091 million, or 1%, from ¥2,162,634 million for the six months ended September 30, 2022, to ¥2,147,543 million for the six months ended September 30, 2023[35]. - Net profit decreased by ¥114,607 million from ¥777,394 million for the six months ended September 30, 2022, to ¥662,787 million for the six months ended September 30, 2023[43]. - Net interest income for the six months ended September 30, 2023, was ¥888,942 million, compared to ¥850,177 million for the same period in 2022, reflecting an increase[41]. - Fee and commission income increased to ¥690,715 million for the six months ended September 30, 2023, from ¥607,546 million for the same period in 2022[41]. - Impairment charges on financial assets increased to ¥130,253 million for the six months ended September 30, 2023, from ¥88,025 million for the same period in 2022[41]. Assets and Liabilities - Total assets increased by ¥23,953,609 million from ¥257,687,038 million at March 31, 2023, to ¥281,640,647 million at September 30, 2023[36]. - Total liabilities increased by ¥22,425,939 million from ¥244,150,073 million at March 31, 2023, to ¥266,576,012 million at September 30, 2023[37]. - Total equity increased by ¥1,527,670 million from ¥13,536,965 million at March 31, 2023, to ¥15,064,635 million at September 30, 2023[38]. Stock and Capital Management - The company issued ¥211 billion in perpetual subordinated bonds in September 2023, classified as Additional Tier 1 capital instruments[29]. - The board of directors authorized the repurchase of up to ¥150 billion of common stock between November 15, 2023, and March 31, 2024[30]. Business Strategy and Challenges - The Company anticipates continued challenges due to potential economic deterioration and credit-related costs[11]. - The Company is focused on implementing its business strategy through its subsidiaries and affiliates to navigate the evolving economic landscape[11]. Sector Performance - Consolidated gross profit for the Wholesale Business Unit increased by ¥43.5 billion, reaching ¥396.9 billion for the six months ended September 30, 2023[88]. - Consolidated net business profit for the Wholesale Business Unit increased by ¥39.7 billion, totaling ¥298.6 billion for the six months ended September 30, 2023[90]. - Consolidated gross profit for the Retail Business Unit for the six months ended September 30, 2023, was ¥621.8 billion, an increase of ¥53.9 billion (9.5%) compared to the same period in 2022[91]. - Consolidated net business profit for the Global Business Unit for the six months ended September 30, 2023, was ¥311.3 billion, an increase of ¥4.9 billion (1.6%) compared to the same period in 2022[98]. - Consolidated gross profit for the Global Markets Business Unit for the six months ended September 30, 2023, was ¥286.6 billion, an increase of ¥19.9 billion (7.5%) compared to the same period in 2022[99]. Loan and Deposit Metrics - Loans and advances increased by ¥4,394,250 million (4%) from ¥111,891,134 million at March 31, 2023, to ¥116,285,384 million at September 30, 2023[108]. - The loan-to-deposit ratio was 65% at September 30, 2023, indicating a stable deposit base and reduced liquidity risk[165]. - Total deposits increased to ¥178,121,198 million at September 30, 2023, reflecting a rise of ¥5,193,388 million from ¥172,927,810 million at March 31, 2023[152]. Capital Ratios - SMBC's consolidated total risk-weighted capital ratio increased to 15.48% at September 30, 2023, from 15.34% at March 31, 2023[199]. - SMBC's consolidated Common Equity Tier 1 risk-weighted capital ratio decreased to 12.20% at September 30, 2023, from 12.43% at March 31, 2023[199]. - The leverage ratio for SMFG at September 30, 2023, is 4.93%, slightly down from 5.03% at March 31, 2023[191]. - SMBC Nikko Securities' capital adequacy ratio is 347.1% at September 30, 2023, well above the 140% threshold[200].

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 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 2023 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 wi ...

Table of Contents FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requir ...

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 June 2023 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 ...

Table of Contents 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 ☒ or Form 40-F :☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RU ...

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 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of December 2022 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 wi ...