News Release


[Sumitomo Mitsui Financial Group, Inc.]Sumitomo Mitsui Financial Group AnnouncesRevision of Earnings Forecasts ofa Consolidated Subsidiary (Kansai Urban Banking Corporation)(1/1)

 

Sumitomo Mitsui Financial Group Announces

Revision of Earnings Forecasts of

a Consolidated Subsidiary (Kansai Urban Banking Corporation)

 

 

TOKYO , November17, 2006 --- Sumitomo Mitsui Financial Group, Inc. (SMFG) hereby announces that Kansai Urban Banking Corporation, a consolidated subsidiary of SMFG, has revised its earnings forecast published on May19, 2006 (see Appendix).

 

 

 

 

 


 

 

(Appendix)

Kansai Urban Banking Corporation Announces

Revision of Earnings Forecast for Fiscal Year 2006

 

OSAKA, Japan, November17, 2006---Kansai Urban Banking Corporation (KUBC) announced today the revision of its previous earnings forecast for the fiscal year ending March 31, 2007, which was published on May 19, 2006.

 

1.      Revision of Earnings Forecast (Fiscal year ending March 31, 2007 )

 

(Consolidated)                                                                                                        (Millions of Yen)

 

Total Income

Ordinary Profit

Net Income

Previous Forecast (A)

84,500

19,600

10,300

Revised Forecast (B)

94,000

19,600

10,300

Difference (B) - (A)

+ 9,500

\

\

PercentageChange

+ 11.2

\

\

(Ref.) Year ended March 31, 2006

81,443

13,779

6,718

 

(Non-consolidated)                                                                                                 (Millions of Yen)

 

Total Income

Ordinary Profit

Net Income

Previous Forecast (A)

73,500

18,600

10,000

Revised Forecast (B)

81,000

18,600

10,000

Difference (B) - (A)

+ 7,500

\

\

PercentageChange

+ 10.2

\

\

(Ref.) Year ended March 31, 2006

72,546

15,629

8,726

 

2.  Factors behind the revision

 

 (1) Consolidated earnings

Mainly in banking business, interest income on loans and discounts is expected to increase mainly due to rise of interest rates as a result of the change in monetary policy of the Bank of Japan.  As a result, KUBC expects total income to be 94.0 billion yen, an increase by 9.5 billion yen (+11.2%) compared with the previous forecast.

 

 (2) Non-consolidated earnings

Interest income on loans and discounts is expected to increase mainly due to rise of interest rates as a result of the change in monetary policy of the Bank of Japan.  As a result, KUBC expects total income to be 81.0 billion yen, an increase by 7.5 billion yen (+10.2%) compared with the previous forecast.

 




To News Release Top Page

Go to top of page