Sumitomo Mitsui Financial (SMFG) - 2025 Q1 - Quarterly Report

Filing Information Details the filing of Form 6-K by Sumitomo Mitsui Financial Group, Inc. for June 2025 Form 6-K Details Sumitomo Mitsui Financial Group, Inc. filed Form 6-K for June 2025 as a foreign private issuer, incorporated into a Form F-3 - Sumitomo Mitsui Financial Group, Inc. filed Form 6-K for June 2025 as a foreign private issuer[1] - The report is incorporated by reference into the company's Form F-3 registration statement (File No. 333-276219)[1] Signatures Report signed by Jun Okahashi, Executive Officer & General Manager, Financial Accounting, on June 30, 2025 - Report signed by Jun Okahashi, Executive Officer & General Manager, Financial Accounting Dept[5] - Signature date: June 30, 2025[6] Notice Regarding Annual Report on Form 20-F Filing Announces the filing of Sumitomo Mitsui Financial Group, Inc.'s annual report on Form 20-F with the U.S. SEC Filing Announcement Sumitomo Mitsui Financial Group, Inc. filed its Form 20-F annual report with the U.S. SEC on June 27, 2025 - Sumitomo Mitsui Financial Group, Inc. filed its annual report on Form 20-F with the U.S. SEC on June 27, 2025[8] - The report is available on the company's website and EDGAR[9] - Holders of American Depositary Receipts can request a hard copy of audited financial statements free of charge[9] Important Disclosures and Forward-Looking Statements Summarizes IFRS consolidated financial information from Form 20-F, with forward-looking statements and inherent risks - Document summarizes IFRS consolidated financial information from the Form 20-F, not containing all information[10] - Contains forward-looking statements subject to risks and uncertainties, with actual results potentially differing[10] - Key risks include deterioration of economic conditions, declines in securities portfolio value, credit-related costs, and new business expansion risks[10] Consolidated Financial Statements (IFRS) Presents the company's consolidated financial position, income, and comprehensive income statements under IFRS Consolidated Statements of Financial Position Total assets increased to ¥292.2 trillion in 2025, primarily from reverse repurchase agreements and investment securities Consolidated Statements of Financial Position (Selected Items, In millions) | Item | At March 31, 2024 (¥) | At March 31, 2025 (¥) | Change (¥) | | :------------------------------------------ | :-------------------- | :-------------------- | :-------------------- | | Assets: | | | | | Cash and deposits with banks | 78,750,443 | 76,669,401 | (2,081,042) | | Reverse repurchase agreements and cash collateral on securities borrowed | 14,148,667 | 22,076,009 | 7,927,342 | | Investment securities | 30,149,837 | 33,546,133 | 3,396,296 | | Loans and advances | 121,716,465 | 125,190,819 | 3,474,354 | | Total assets | 281,271,637 | 292,165,070 | 10,893,433 | | Liabilities: | | | | | Deposits | 182,097,319 | 190,022,742 | 7,925,423 | | Repurchase agreements and cash collateral on securities lent | 20,166,958 | 27,791,101 | 7,624,143 | | Borrowings | 16,107,158 | 12,697,699 | (3,409,459) | | Total liabilities | 264,992,539 | 275,676,476 | 10,683,937 | | Equity: | | | | | Total equity | 16,279,098 | 16,488,594 | 209,496 | Consolidated Income Statements Net profit decreased to ¥516.4 billion in 2025, due to negative net trading income and higher impairment charges Consolidated Income Statements (Selected Items, In millions, except per share data) | Item | For the fiscal year ended March 31, 2024 (¥) | For the fiscal year ended March 31, 2025 (¥) | Change (¥) | | :-------------------------------------------------- | :------------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net interest income | 1,890,763 | 2,514,434 | 623,671 | | Net fee and commission income | 1,236,132 | 1,316,388 | 80,256 | | Net trading income (loss) | 349,520 | (186,688) | (536,208) | | Impairment charges on financial assets | 205,096 | 411,278 | 206,182 | | General and administrative expenses | 2,229,701 | 2,421,732 | 192,031 | | Net profit | 895,750 | 516,444 | (379,306) | | Basic Earnings per share | 219.04 | 122.40 | (96.64) | - Net profit decreased by ¥379,306 million (approx. 42.3%) year-over-year[13] - Basic earnings per share decreased from ¥219.04 to ¥122.40, reflecting the lower net profit and the impact of a 3-for-1 stock split effective October 1, 2024[13][15] Consolidated Statements of Comprehensive Income Total comprehensive income decreased to ¥490.9 billion in 2025, due to a negative shift in non-reclassifiable items Consolidated Statements of Comprehensive Income (Selected Items, In millions) | Item | For the fiscal year ended March 31, 2024 (¥) | For the fiscal year ended March 31, 2025 (¥) | Change (¥) | | :------------------------------------------------------------------------------------------------ | :------------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net profit | 895,750 | 516,444 | (379,306) | | Total items that will not be reclassified to profit or loss, net of tax | 1,175,424 | (150,104) | (1,325,528) | | Total items that may be reclassified subsequently to profit or loss, net of tax | 509,716 | 124,540 | (385,176) | | Other comprehensive income (loss), net of tax | 1,685,140 | (25,564) | (1,710,704) | | Total comprehensive income | 2,580,890 | 490,880 | (2,089,990) | - Total comprehensive income decreased by over ¥2 trillion year-over-year[14] - Equity instruments at fair value through other comprehensive income shifted from a gain of ¥1,646,992 million in 2024 to a loss of ¥137,279 million in 2025, before tax[14] Reconciliation with Japanese GAAP Summarizes significant adjustments between IFRS and Japanese GAAP for total equity and net profit for FY2025 Overview of Reconciliation Differences Summarizes significant adjustments between IFRS and Japanese GAAP for total equity and net profit for FY2025 Reconciliation of Total Equity and Net Profit (IFRS vs. Japanese GAAP, In billions, as of and for FY ended March 31, 2025) | Item | Total equity (¥) | Net profit (¥) | | :-------------------------------------------------- | :--------------- | :------------- | | IFRS | 16,488.6 | 516.4 | | Differences arising from