[SMFG] SMFG: earnings preview on SMBC's yen spread at a 1% call rate

Sumitomo Mitsui Financial Group (SMFG) is the holding company for Sumitomo Mitsui Banking Corporation (SMBC) and one of the three largest financial groups in Japan, offering commercial banking, leasing, securities, credit cards and consumer finance[1]. According to the Drillr earnings calendar, SMFG will report results for the six months ended September 30, 2026 on 2026-11-13, which is the first half of the fiscal year ending March 2027 and, on a standalone basis, its second quarter[2]. In the latest disclosed first quarter, ended June 30, 2026, consolidated net interest income under Japanese GAAP was ¥791.9 billion versus ¥626.3 billion a year earlier, net fees and commissions were ¥473.8 billion versus ¥398.8 billion, consolidated net business profit rose 32.7% to ¥722.3 billion, and profit attributable to owners of parent rose 33.0% to ¥501.4 billion[3]. SMFG gives only two numeric targets: a ¥1.7 trillion forecast for profit attributable in the fiscal year ending March 2027, left unchanged with the first-quarter release[4][5], and a full-year dividend forecast of ¥180 per share on a pre-split basis, split evenly into ¥90 interim and ¥90 year-end payments[6]. The vendor consensus compiled in the Drillr earnings calendar is $0.508 of earnings per ADS; the first-quarter actual was $0.50 against an estimate of $0.44. The ADS ratio changed on October 1, 2026 from one ADS per 0.6 common share to one ADS per 1.2 common shares, so it is uncertain which ratio the $0.508 figure reflects[2].

Three things matter most in this SMFG earnings preview. The first is SMBC's yen loan-deposit spread: on June 16, 2026 the Bank of Japan said it would guide the uncollateralized overnight call rate to around 1.0%, up from around 0.7% at the end of March[7], and in the first quarter SMBC's domestic loan yield rose from 1.26% to 1.61% while its deposit rate rose only from 0.18% to 0.30%, widening the spread from 1.08% to 1.31%[8]; the half-year figures will show whether deposit rates began to catch up after the hike. The second is whether Retail profit holds: first-quarter Retail gross profit grew 20.8% while costs grew only 10.2%, lifting net business profit from ¥74.5 billion to ¥120.9 billion[9][10], and the second quarter will test whether wealth and payment income is steadily outrunning marketing costs or whether strong equity markets produced a one-quarter high. The third is the cost-revenue balance overseas: first-quarter Global gross profit grew 7.7% but costs grew 15.8%, cutting net business profit from ¥184.7 billion to ¥151.2 billion[9][10]. Whether that decline stops in the first half, and whether profit attributable passes half of the full-year forecast mainly on core earnings rather than stock sales, will decide how solid the ¥1.7 trillion target looks[3][4].

Company Background and Business Structure

Sumitomo Mitsui Financial Group was set up in December 2002 as the holding company for SMBC, and its roots trace back to the Mitsui and Sumitomo banking lines. The former SMBC was formed in April 2001 by merging Sumitomo Bank and Sakura Bank, and Sakura Bank itself came from the 1990 merger of Taiyo Kobe Bank and Mitsui Bank; Mitsui and Sumitomo began banking in 1876 and 1895, respectively[11]. Since April 2018 the group has used "SMBC Group" as its master brand while the listed holding company keeps the Sumitomo Mitsui Financial Group name, and its subsidiaries include SMBC, SMBC Trust Bank, Sumitomo Mitsui Finance and Leasing, SMBC Nikko Securities, Sumitomo Mitsui Card and SMBC Consumer Finance[1]. At March 31, 2026 the group had 143 overseas offices[12].

The group reports four business units organized by client, which together produced ¥4.84 trillion of consolidated gross profit and ¥2.33 trillion of consolidated net business profit in the fiscal year ended March 2026[13]. The Wholesale unit serves Japanese companies and earned ¥1.25 trillion of gross profit and ¥997.1 billion of net business profit, with growth driven mainly by SMBC's interest income on loans and deposits, reflecting loan growth and wider spreads, as well as fee income[13][14]. The Retail unit serves individuals and earned ¥1.56 trillion of gross profit and ¥427.7 billion of net business profit; its growth came from deposit interest and the wealth management and payment businesses, and its ¥1.13 trillion of expenses is the highest of the four units, with the increase driven mainly by variable marketing costs in payments[13][15]. The Global unit handles overseas lending, project finance, overseas securities and leasing, earning ¥1.55 trillion of gross profit and ¥655.8 billion of net business profit, while the Global Markets unit runs treasury, bond and equity portfolios and earned ¥697.8 billion of gross profit and ¥508.7 billion of net business profit[13]. The domestic Wholesale and Retail units together account for about 58% of consolidated gross profit[13].

The overseas footprint combines subsidiaries and affiliated banks, with India as the focus in Asia and a capital-markets alliance with the US investment bank Jefferies. The group bought 74.9% of Fullerton India in November 2021 and the remaining 25.1% in March 2024, and the company has been renamed SMFG India Credit; SMBC took a 24.2% stake in India's YES BANK in September 2025, making it an associate, and added another 0.7% in October[12]. SMBC Nikko's overseas subsidiaries handle overseas securities, M&A advisory and derivatives, and aircraft leasing runs through SMBC Aviation Capital under Sumitomo Mitsui Finance and Leasing[16]. On September 29, 2026 the company announced that it would set up an intermediate holding company, "SMBC Nikko Securities Holdings," around October 2026 to oversee SMBC Nikko and its Japanese equities joint venture with Jefferies[17].

Financial History and Current Position

Under IFRS in the annual report, profit recovered sharply in the fiscal year ended March 2026. Net interest income was ¥2.83 trillion versus ¥2.51 trillion the year before, up 12.7%; net fee and commission income was ¥1.52 trillion versus ¥1.32 trillion, up 15.3%; impairment charges on financial assets fell from ¥411.3 billion to ¥392.2 billion, and general and administrative expenses rose from ¥2.42 trillion to ¥2.67 trillion[18]. Profit attributable to shareholders was ¥1.14 trillion versus ¥478.1 billion a year earlier, and basic earnings per share were ¥296.05[18]. Fee growth came mainly from securities and investment-trust income driven by wealth management, plus higher credit card income from the growth of cashless payments[19].

The Japanese GAAP first quarter shows that growth came mainly from interest income, while costs also rose quickly. In the three months to June 30, 2026, consolidated gross profit was ¥1.40 trillion versus ¥1.09 trillion a year earlier; net interest income rose 26.4% to ¥791.9 billion, net fees and commissions rose 18.8% to ¥473.8 billion, general and administrative expenses rose 18.8% to ¥712.2 billion, and equity in gains of affiliates fell from ¥56.2 billion to ¥31.1 billion[3]. Total credit cost was ¥74.8 billion, roughly flat against ¥75.6 billion a year earlier, gains on stocks rose from ¥41.1 billion to ¥75.5 billion, and profit attributable of ¥501.4 billion equaled 29.5% of the ¥1.7 trillion full-year forecast[3][4].

Capital and liquidity strengthened further in the quarter. The common equity Tier 1 ratio was 12.63% at the end of June 2026 versus 12.41% at the end of March, with ¥12.90 trillion of CET1 capital, ¥102.13 trillion of risk-weighted assets and a leverage ratio of 5.25%[20]. Consolidated non-performing loans were ¥1.15 trillion over the same period, and the NPL ratio fell from 0.97% to 0.81%[21]. SMBC held ¥136.82 trillion of domestic deposits, ¥73.26 trillion of domestic loans and ¥40.13 trillion of loans at overseas offices[22]. On shareholder returns, the dividend for the fiscal year ended March 2026 was ¥157 per share, and the forecast for the year ending March 2027 is ¥180 per pre-split share, or ¥45 at year-end on a post-split basis[6]; the ¥180 billion buyback authorized on May 13 was completed by July 31, covering 28,018,600 shares that were scheduled for cancellation on August 20[23].

Operating Model

Revenue rests on two lines: the yen spread and fees. Consolidated gross profit under Japanese GAAP is the sum of net interest income, trust fees, net fees and commissions, net trading income and net other operating income[3]. Net interest income comes mainly from SMBC's domestic yen lending, priced off short-term rates and funded by deposits, plus overseas corporate lending and consumer finance; when rates rise from low levels commercial bank spreads usually widen, but right after a hike spreads can narrow temporarily if lending rates adjust more slowly than funding costs[24]. Fees come from remittances, investment-trust sales, loan-related charges and securities transactions, along with merchant and cardholder fees at Sumitomo Mitsui Card and investment-trust and underwriting fees at SMBC Nikko[24].

Profit is gross profit minus expenses, adjusted for credit cost and stock gains. Consolidated net business profit equals consolidated gross profit minus general and administrative expenses plus equity in gains of affiliates, and ordinary profit then adds credit cost and gains or losses on stocks[3]. First-quarter G&A rose 18.8% to ¥712.2 billion, slower than the 29.0% rise in gross profit; Retail has the largest cost base and Global's costs grew fastest[3][9][10]. The swing items for profit are therefore the yen spread, the gap between revenue and costs in the Retail and Global units, credit cost, and stock-sale gains whose timing the company can choose.

For a bank holding company, cash generation depends on capital rather than conventional free cash flow. Retained profit builds CET1 capital, which stood at ¥12.90 trillion, or 12.63% of risk-weighted assets, at the end of June 2026[20]. The holding company's dividend policy is to reach a 40% payout ratio on Japanese GAAP consolidated net profit by the end of the current medium-term management plan[25], and it returns further capital by buying back and cancelling shares[23]. On the bank side, liquidity comes from deposits, and the excess of deposits over loans is invested mainly in Japanese government bonds and other liquid securities[26], so higher bond yields affect both bond trading results and capital ratios.

Industry and Competitive Position

Japanese financial services are highly competitive, and SMFG's rivals range from large banks to fintech firms. The annual report lists competitors including Japan's other major banking groups, government-controlled and government-affiliated entities, regional banks, major investment banks, non-bank financial institutions and new fintech entrants, and warns that tougher domestic competition could push down prices, cost market share or raise expenses[27]. At home, the main rivals are the other two megabank groups, MUFG and Mizuho.

The regional mix of revenue tilted clearly toward Japan in the latest fiscal year. Measured by IFRS total operating income, offices in Japan contributed 43% in the fiscal year ended March 2026, the Americas 26%, Europe and the Middle East 12%, and Asia and Oceania 19%; a year earlier Japan was only 29% and the Americas 34%[28]. SMFG's distinctive positions are a domestic retail payment and wealth platform built around Sumitomo Mitsui Card and SMBC Nikko, a multi-bank Asian footprint centered on India, and its capital-markets alliance with Jefferies[1][12][16]. Management's overseas strategy is to strengthen capital markets, realize returns on Asian investments with discipline, and fundamentally replace assets in overseas corporate lending[29]; the available material lacks like-for-like spread and cost data for peers, so these advantages are hard to compare quantitatively.

Core Debates

With the Bank of Japan guiding the call rate to around 1.0%, did SMBC keep widening its yen loan-deposit spread through September, or did deposit repricing catch up?

This question matters because the domestic Wholesale and Retail units generate about 58% of consolidated gross profit, and the annual report attributes Wholesale growth mainly to loan growth and wider spreads[13][14]. First-quarter consolidated net interest income rose 26.4% to ¥791.9 billion[3], and SMBC's standalone net interest income rose 38.4% from ¥416.1 billion to ¥575.6 billion[30].

Current evidence shows loans repricing much faster than deposits in the first quarter. SMBC's average domestic loan yield rose from 1.26% to 1.61%, its deposit rate rose from 0.18% to 0.30%, and the spread widened from 1.08% to 1.31%[8]. In the same quarter domestic deposits grew ¥934.2 billion to ¥136.82 trillion, including ¥63.22 trillion from individuals, and domestic loans grew ¥1.65 trillion to ¥73.26 trillion[22]. On June 16 the Bank of Japan said it would guide the call rate to around 1.0%, up from around 0.7% at the end of March[7].

The transmission runs as follows: a higher policy rate lifts yields on floating-rate domestic loans quickly, deposit rates follow more slowly, the spread widens, and that raises net interest income at SMBC and the group and, in turn, consolidated net business profit[8][30][3]. The alternative reading comes from the annual report itself: spreads can narrow briefly after a hike, and if deposit rates move first in the second quarter, the spread could stall near 1.31% and net interest income growth would come only from volume[24]. Because the half-year spread averages both quarters, the second-quarter figure has to be backed out.

What to watch: the six-month domestic spread against 1.31% in the first quarter, how much deposit rates and loan yields each moved, domestic deposits at September 30 against ¥135.89 trillion at the end of March, and whether six-month consolidated net interest income exceeds twice the first quarter, or ¥1.58 trillion[8][22][3]. If deposit repricing or outflows cap the spread at the higher rate, the current understanding weakens[24].

Retail profit nearly doubled in the first quarter. Is that wealth and payment income outrunning marketing costs, or a one-quarter high from strong equity markets?

Retail accounts for about a third of group gross profit but carries the heaviest cost base, so small changes in the gap between income and costs swing its profit sharply[13]. First-quarter Retail net business profit rose 62.3% from ¥74.5 billion to ¥120.9 billion, and consolidated net fees and commissions rose 18.8% to ¥473.8 billion[9][10][3].

The annual report attributes last year's Retail gross profit growth to deposit interest and the wealth management and payment businesses, and the cost increase mainly to variable marketing costs in payments[15]. In the first quarter Retail gross profit rose 20.8% from ¥354.9 billion to ¥428.8 billion, while costs rose 10.2% from ¥280.7 billion to ¥309.2 billion[9][10]. The Nikkei average climbed from 51,063.72 on March 31, 2026 to 71,250.06 on June 19[7], which supports investment-trust sales.

The transmission path is that investment-trust and securities sales to individuals, card and cashless payment volume and deposit interest lift Retail gross profit, and after payment marketing and branch costs that becomes Retail net business profit; the fee portion also shows up in consolidated net fees and commissions[19][9]. The opposite reading is that the quarter's lift came from equity-market levels and deposit interest, while payment marketing costs keep rising with card volume, so second-quarter Retail profit could fall back.

What to watch: six-month Retail net business profit against twice the first quarter, or ¥241.8 billion; whether second-quarter Retail costs rise clearly above the first quarter's ¥309.2 billion; and six-month consolidated net fees against ¥947.7 billion[9][3]. If rising payment marketing costs or an equity-market pullback erase the Retail margin gain, the debate tilts toward the one-quarter-high reading.

Overseas revenue grew 7.7% in the first quarter while costs grew 15.8%, cutting profit 18.1%. Can overseas lending and fee income catch up with the cost build without credit costs rising?

The Global unit earns about a third of group gross profit and is where management is investing, from capital markets to Indian banking[13][29]. In the fiscal year ended March 2026 its gross profit rose ¥110.1 billion and its costs rose ¥107.4 billion, so net business profit grew only ¥16.3 billion; in the first quarter net business profit fell from ¥184.7 billion to ¥151.2 billion[31][9][10].

The annual report attributes Global gross profit growth to interest income on loans and loan-related fees, and the cost increase to overseas business development and regulatory response[31]. Management's strategy is to strengthen capital markets, realize returns on Asian investments and replace low-return overseas corporate loans[29]; SMBC took a 24.2% stake in YES BANK in September 2025 and later added 0.7%[12]. First-quarter Global gross profit rose from ¥359.0 billion to ¥386.7 billion, costs rose from ¥232.4 billion to ¥269.1 billion, and equity-method and other items fell from ¥58.1 billion to ¥33.6 billion[9][10].

The transmission path is that overseas loan growth, loan-related fees and asset replacement lift Global gross profit, and after overseas development and regulatory costs plus equity-method and other items that becomes Global net business profit; overseas credit losses flow through credit cost into ordinary profit[9][3]. First-quarter consolidated credit cost was ¥74.8 billion versus ¥75.6 billion a year earlier[3]. The alternative reading is that the cost build is front-loaded and revenue from asset replacement and new businesses arrives later, so even if costs still outrun revenue in the second quarter, that need not signal a failed strategy.

What to watch: six-month Global net business profit against twice the first quarter, or ¥302.4 billion; second-quarter Global gross profit growth versus cost growth; and six-month consolidated credit cost against about ¥149.5 billion, twice the first quarter[9][3]. If overseas costs keep outgrowing revenue, or credit costs rise with overseas loans, the current understanding weakens.

With 29.5% of the ¥1.7tn full-year profit forecast booked in the first quarter, will SMFG pass the halfway mark by September on core earnings rather than stock-sale gains?

The ¥1.7 trillion profit forecast is the company's only numeric earnings guidance, and the dividend is set at a 40% payout of that profit[4][25]. First-quarter profit attributable was ¥501.4 billion, up 33.0%[3], and the company has just completed a ¥180 billion buyback[23].

First-quarter profit was driven mainly by core business, though stock gains also rose markedly. Consolidated net business profit rose 32.7% to ¥722.3 billion, credit cost was flat at ¥74.8 billion, and gains on stocks rose from ¥41.1 billion to ¥75.5 billion, equal to about 15% of profit attributable[3]. The company left its full-year forecast unchanged in July[5], and the CET1 ratio rose from 12.41% to 12.63% at the end of June[20]. The buyback authorized on May 13 was completed by July 31 at ¥180 billion, with 28,018,600 shares scheduled for cancellation on August 20[23].

The transmission path is that consolidated net business profit plus credit cost and stock gains, minus taxes, becomes profit attributable; the retained portion builds CET1 capital, which in turn supports dividends at a 40% payout and buybacks[3][20][25]. The alternative reading is that the forecast is conservative and could be raised, or that the remaining pace comes from the timing of stock sales rather than core earnings.

What to watch: six-month profit attributable against half the full-year forecast, or ¥850 billion, and any change to the forecast; six-month consolidated net business profit against twice the first quarter, or ¥1.44 trillion; the share of profit coming from stock gains; and the CET1 ratio at September 30 along with any new buyback[4][3][20]. If the profit pace relies mainly on discretionary stock-sale gains, the debate tilts toward weak core momentum.

Risks and Falsifiers

The first risk is that higher Japanese bond yields cut the value of the bond portfolio that holds the deposit surplus. The group invests the excess of deposits over loans mainly in Japanese government bonds and other securities[26], and SMBC booked a ¥19.8 billion loss on bonds in the first quarter versus a ¥14.4 billion gain a year earlier[30]; the exposure is bond gains and losses in banking profit and the capital ratios. If six-month bond losses stay within twice the first quarter, or about ¥39.5 billion, and the CET1 ratio holds at or above 12.41%, the risk has not materialized[20].

The second risk is that competition from other megabanks, government-affiliated lenders, regional banks and fintech entrants forces SMBC to pay more for deposits or price loans more tightly[27]. The exposure is the 1.31% domestic spread and ¥136.82 trillion of domestic deposits[8][22]. A six-month domestic spread at or above 1.31% with domestic deposits at or above ¥135.89 trillion would falsify this risk.

The third risk is that deposit rates catch up with loan yields after the call rate moves to 1.0%, or that corporate deposits leave, so the domestic spread stops widening[24]. The exposure is first-quarter consolidated net interest income of ¥791.9 billion and net business profit in the Wholesale and Retail units[3]. A six-month domestic spread of at least 1.33% with domestic deposits at or above ¥135.89 trillion would confirm the current understanding[8][22].

The fourth risk is that wealth fees fall back with the equity market while variable payment marketing costs keep rising, reversing Retail's first-quarter margin gain[15][19]. The exposure is first-quarter Retail net business profit of ¥120.9 billion and consolidated net fees of ¥473.8 billion[9][3]. If six-month Retail net business profit is at least ¥241.8 billion with Retail costs at or below ¥618.4 billion, the risk has not materialized.

The fifth risk is that overseas development and regulatory spending keeps growing faster than overseas revenue, keeping Global profit below last year[31]. The exposure is first-quarter Global net business profit of ¥151.2 billion and consolidated G&A of ¥712.2 billion[9][3]. Six-month Global net business profit of at least ¥302.4 billion, with second-quarter revenue growing faster than costs, would falsify this risk[10].

The sixth risk is that the profit pace leans on discretionary stock-sale gains or a benign credit cost, so the full-year forecast is met without core earnings growth. The exposure is first-quarter profit attributable of ¥501.4 billion and the ¥1.7 trillion full-year forecast[3][5]. Six-month consolidated net business profit of at least ¥1.44 trillion, with six-month gains on stocks at or below ¥150.9 billion, would falsify this risk.

What to Watch Next

• Yen spread: SMBC's six-month domestic spread and deposit rate against 1.31% in the first quarter (loan yield 1.61%, deposit rate 0.30%). A spread at or above 1.31% with deposits at or above ¥135.89 trillion confirms the current reading; a stalled spread with deposit outflows weakens it.
• Net interest income: six-month consolidated NII above ¥1.58 trillion, against ¥791.9 billion in the first quarter, would show second-quarter growth continuing.
• Retail profit: six-month Retail net business profit of at least ¥241.8 billion with costs at or below ¥618.4 billion, against ¥120.9 billion and ¥309.2 billion in the first quarter.
• Fees: six-month consolidated net fees above ¥947.7 billion, against ¥473.8 billion in the first quarter, would show fees holding up through any equity-market pullback.
• Overseas business: six-month Global net business profit of at least ¥302.4 billion, against ¥151.2 billion in the first quarter, with second-quarter revenue growth beating cost growth (first quarter: revenue +7.7%, costs +15.8%).
• Credit cost: six-month consolidated credit cost clearly above about ¥149.5 billion, against ¥74.8 billion in the first quarter, would weaken the overseas case.
• Profit target: six-month profit attributable above ¥850 billion with net business profit of at least ¥1.44 trillion, against ¥501.4 billion of first-quarter profit and the ¥1.7 trillion forecast.
• Stock gains and capital: six-month gains on stocks at or below ¥150.9 billion, the CET1 ratio against 12.63%, and any new buyback; profit that leans mainly on stock sales would weaken the reading.

Conclusion

SMFG's earnings are driven by the domestic yen spread, Retail wealth and payment fees, and an overseas business in which it is investing heavily, and its finances are in an upswing powered by higher rates. In the first quarter to June 2026, consolidated net interest income rose 26.4% to ¥791.9 billion and profit attributable rose 33.0% to ¥501.4 billion, already 29.5% of the ¥1.7 trillion full-year forecast, with a CET1 ratio of 12.63%[3][4][20]. The central unresolved relationship is whether the 1.31% domestic spread keeps widening now that the call rate is around 1.0%, and whether the jump in Retail profit or the front-loaded overseas costs will dominate profit in the rest of the year[8][7].

Since the first-quarter results on July 31, no independent third-party assessment of SMFG's results has appeared in public sources; coverage in that period consisted mainly of sector-wide share-price moves and company product announcements, which do not amount to a judgment on the results themselves. The debates above can therefore be tested only against the company's own disclosures, not against an outside view of which reading is more persuasive.

If the half-year report shows a domestic spread at or above 1.31%, domestic deposits steady above ¥135.89 trillion, Retail net business profit of at least ¥241.8 billion, second-quarter Global revenue growth once again outpacing costs, and profit attributable above ¥850 billion coming mainly from core earnings rather than stock sales, the current understanding of spread-driven earnings growth would be materially strengthened. Conversely, if deposit rates start catching up with loan yields, Retail costs keep climbing with card volume, overseas profit stays below last year, or the profit pace depends mainly on stock gains, that understanding would weaken.

Sources

[1] SMFG 20-F filed 2026-06-26 · overview of the SMBC Group · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[2] Drillr earnings_calendar (last updated 2026-11-02) · SMFG 2026-11-13 estimates · 2026-11-02 · Drillr earnings_calendar (vendor consensus) · https://gateway.drillr.ai/mcp/private

[3] SMFG 6-K filed 2026-07-31 · consolidated operating results three months ended June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[4] SMFG 6-K filed 2026-05-13 · earnings forecast fiscal year ending March 31, 2027 · 2026-05-13 · SMFG · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[5] SMFG 6-K filed 2026-07-31 · earnings forecast fiscal year ending March 31, 2027 unchanged · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[6] SMFG 6-K filed 2026-07-31 · dividend forecast fiscal year ending March 31, 2027 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[7] SMFG 20-F filed 2026-06-26 · operating environment and interest rates · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[8] SMFG 6-K filed 2026-07-31 · SMBC domestic interest spread three months ended June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[9] SMFG 6-K filed 2026-07-31 · segment results three months ended June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[10] SMFG 6-K filed 2026-07-31 · segment results three months ended June 30, 2025 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[11] SMFG 20-F filed 2026-06-26 · history and development · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[12] SMFG 20-F filed 2026-06-26 · Global Business Unit network and Asian franchises · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[13] SMFG 20-F filed 2026-06-26 · business unit results fiscal year ended March 31, 2026 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[14] SMFG 20-F filed 2026-06-26 · Wholesale Business Unit FY2026 vs FY2025 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[15] SMFG 20-F filed 2026-06-26 · Retail Business Unit FY2026 vs FY2025 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[16] SMFG 20-F filed 2026-06-26 · securities business and Jefferies alliance · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[17] SMFG 6-K filed 2026-09-29 · intermediate holding company for SMBC Nikko and Jefferies JV · 2026-09-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[18] SMFG 20-F filed 2026-06-26 · IFRS operating results FY2026 vs FY2025 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[19] SMFG 20-F filed 2026-06-26 · net fee and commission income FY2026 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[20] SMFG 6-K filed 2026-08-14 · Basel III capital ratios June 30, 2026 · 2026-08-14 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[21] SMFG 6-K filed 2026-07-31 · non-performing loans June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[22] SMFG 6-K filed 2026-07-31 · SMBC deposits and loans June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[23] SMFG 6-K filed 2026-08-03 · completion of share repurchase and cancellation · 2026-08-03 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[24] SMFG 20-F filed 2026-06-26 · interest spread mechanics and fee sources · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[25] SMFG 20-F filed 2026-06-26 · dividend policy · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[26] SMFG 20-F filed 2026-06-26 · liquidity and deposit surplus investment · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[27] SMFG 20-F filed 2026-06-26 · competition risk factor · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[28] SMFG 20-F filed 2026-06-26 · revenues by region · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[29] SMFG 20-F filed 2026-06-26 · management policies and business strategy · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm

[30] SMFG 6-K filed 2026-07-31 · SMBC non-consolidated operating results three months ended June 30, 2026 · 2026-07-31 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001022837&type=6-K&dateb=&owner=include&count=40

[31] SMFG 20-F filed 2026-06-26 · Global Business Unit FY2026 vs FY2025 · 2026-06-26 · 20-F · https://www.sec.gov/Archives/edgar/data/1022837/000119312526283871/0001193125-26-283871-index.htm