News Release


[Sumitomo Mitsui Financial Group, Inc.]Notice regarding Establishment of Limit for Acquiring Own Stock, Etc.(1/1)

Sumitomo Mitsui Financial Group, Inc.

 

 

 

Notice regarding Establishment of Limit for Acquiring Own Stock, Etc. (Establishment of Limit for Acquiring Own Stock pursuant to

the Provisions of Item 3, Article 155 and Paragraph 1, Article 156 of the Japanese Corporate Law)

 

 

 

TOKYO, October 13, 2006 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President: Teisuke Kitayama) hereby announces that SMFGfs board of directors resolved at a meeting held today on establishment of a limit for acquiring its own stock and other agenda as described below, so that SMFG can cope with the disposition of SMFGfs common shares in market transactions by The Resolution and Collection Corporation (RCC), which RCC is expected to carry out at the request of SMFG.

SMFG established the limit for acquiring its own stock pursuant to Article 8 of the Articles of Incorporation as described in 2.(2) below, in addition to the one established by the resolution at the annual general shareholdersf meeting held on June 29, 2006, in order to prepare for possible rise in stock price and thereby ensure the repayment of outstanding public funds in their entirety.

Details of the method of acquisition will be determined in due course, taking SMFGfs financial conditions, stock price and other factors into consideration. SMFG will ask Deposit Insurance Corporation of Japan through RCC for disposal of the common shares when SMFG decides to acquire them at a later date.

 

 

Establishment of the limit for acquiring SMFGfs own stock, etc.

1. Reason for establishment of the limit for acquiring SMFGfs own stock, etc.

To acquire SMFGfs common shares, including 60,466 common shares* issued and delivered in exchange for the public fund preferred stock, as to which the right to request acquisition was exercised.

*60,466 common shares were delivered to RCC in exchange for the part of SMFGfs Type 3 Preferred Stock as to which RCC exercised its right to request acquisition.

Summary of the acquisition is as follows:

Type of stock acquired

Type 3 Preferred Stock

Total amount of acquisition price

JPY 50,000,000,000

Date of request for acquisition

September 29, 2006

Acquisition price at which a common share is issued and delivered in exchange for Type 3 Preferred Stock

JPY 826,900

Number of common shares delivered

in exchange for Type 3 Preferred Stock

60,466 shares

For more details, please refer to the press release dated September 28, 2006 , titled gNotice regarding Repayment of Public Fund Preferred Stockh.

2. Details of the limit for acquisition, etc.

(1) Acquisition of SMFGfs own stock in accordance with the resolution at the annual general shareholdersf meeting held on June 29, 2006

- Type of stock to be acquired           : Common stock

- Number of shares to be acquired    : 60,466 shares (Upper limit)

- Amount of cash to be tendered in    

 exchange for the acquired stock      : JPY 79,639,200,000 (Upper limit)

- Acquisition period                          : From October 16, 2006 to December 29, 2006

 

(2) The limit for acquiring SMFGfs own stock established pursuant to Article 8 of the Articles of Incorporation

- Type of stock to be acquired           : Common stock

- Number of shares to be acquired    : 6,700 shares (Upper limit)

- Amount of cash to be tendered in    

 exchange for the acquired shares    : JPY 10,000,000,000 (Upper limit)

- Acquisition period                          : From October 16, 2006 to December 29, 2006

 

It follows from the board resolutions described in (1) and (2) above that an aggregate upper limit on the number of shares to be acquired is 67,166 shares and an aggregate upper limit on the amount of cash to be tendered in exchange for the acquired stock is JPY 89,639,200,000.

 

(Reference)

1. Details of the limit for acquiring SMFGfs own stock established by the resolution at the annual general shareholdersf meeting held on June 29, 2006

Type of stock to be acquired

Number of shares to be acquired

Amount of cash to be tendered

in exchange for the acquired shares

Common stock

Upper limit  1,000,000 shares

Upper limit  JPY 1,200,000,000,000

Type 2 Preferred Stock

Upper limit    67,000 shares

Upper limit  JPY 1,200,000,000,000

Type 3 Preferred Stock

Upper limit   695,000 shares

Upper limit  JPY 1,200,000,000,000

Total

Aggregate

upper limit  1,762,000 shares

Aggregate

upper limit  JPY 1,200,000,000,000

 

2. The results of acquisition using the limit described in 1 above as of October 13, 2006

Type of stock acquired

Number of shares acquired

Amount of cash tendered

in exchange for the acquired shares

Common stock

0 shares

JPY 0

Type 2 Preferred Stock

   67,000 shares

JPY 245,079,300,000

Type 3 Preferred Stock

  645,000 shares

JPY 875,281,500,000

Total

Total        712,000 shares

Total      JPY 1,120,360,800,000

 

 

 

 

This gNotice regarding Establishment of Limit for Acquiring Own Stock, Etc.h is published in order to publicly announce the facts herein described, not to solicit anyone into making any investment in or outside of Japan , nor for any other similar purposes.

 

 

 

 

 

 

 

 




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