News Release


[Sumitomo Mitsui Financial Group, Inc.]Dissolution of The Japan Card Business Support Company, Limited(1/1)

Sumitomo Mitsui Financial Group, Inc.

 

 

Dissolution of The Japan Card Business Support Company, Limited

 

Tokyo , July 16, 2008 --- Sumitomo Mitsui Financial Group, Inc. (SMFG) hereby announces that Sumitomo Mitsui Card Company, Limited (SMCC), a consolidated subsidiary of SMFG, has decided to dissolve its wholly owned subsidiary, The Japan Card Business Support Company, Limited (the gSubsidiaryh).

 

1. Name of the Subsidiary

 

Company Name

The Japan Card Business Support Company, Limited

Location

5-15 Imabashi 4-chome, Chuo-ku, Osaka-shi, Osaka , JAPAN

Representative

Tadamasa Umatani

 

2. Reason for Dissolution

To improve efficiency of credit card business

 

3. Profile of the Subsidiary

Business

Transaction services for credit card business

Date of Establishment

April 1, 2002

Paid-in Capital

JPY 100 million

Shareholdersf Equity

JPY 165 million ias of the end of March 2008j

Total Assets

JPY 252 million ias of the end of March 2008j

Fiscal Year End

March 31

Number of Employees

75ias of the end of March 2008j

Shareholders

SMCC  100%

Recent Financial Performance

(Fiscal Year ended March 2008j

Ordinary Profit: JPY 14 million

Net Income: JPY 7 million

 

4. Date of Dissolution

July, 2008iPlannedj

 

5. SMFGfs Earnings Forecasts

There is no revision to SMFGfs earnings forecasts for the year ending March 31, 2009, due to this dissolution.

 

 




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