On October 1, 2009, Nikko Cordial Securities Inc. became a wholly-owned subsidiary of SMBC. SMFG thereby promotes a business model integrating banking and securities busi-nesses based on the business affiliation with Nikko Cordial Securities which, at the same time, is strengthening its wholesale securities business.
SMFG offers and provides optimized solutions for capital management, M&A, hedge transactions, settlement and other services by leveraging the combined capabilities of the Investment Banking Unit of SMBC with the Group companies, including Nikko Cordial Securities. SMFG assists its customers in developing their businesses and enhancing their corporate valuation.
In May 2010, SMBC set up the Financial Products Marketing Department for the Asia-Pacific region, consolidating various departments of the Investment Banking Unit. SMBC provides prompt and optimized solutions by offering a wide range of investment banking products and services, such as securitization of receivables and derivatives to meet its customers’ increasingly diversified and sophisticated needs.
SMBC has supported the sewage sludge dehydration and incineration project in Singapore in line with the Clean Development Mechanism (CDM). The CDM Executive Board of the United Nations has now registered this project as one of the official CDM projects.
Since the creation of the Environmental Products Department in October 2007 to manage the carbon emis-sion trading businesses, SMBC has worked to recognize potential CDM projects and introduce such projects to governmental agencies and corporations in Japan and overseas that are willing to participate and support the car-bon emission trading business. It further supported projects in emerging countries for the development of renewable energies by applying Japanese technology.
Furthermore, in July 2010, SMBC organized the Growing Industrial Cluster Project Team which strives to eliminate organizational boundaries to focus its initiatives on the water related business, one of the four growing industrial clusters*, endorsed by SMBC. The team provides comprehensive support for the project development and a wide range of financial services through cooperation with the departments in charge.
* The prioritized four clusters are environment, new energy, water and natural resources.