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Topic: SMFG


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In the News (Thu 31 Dec 09)

  
  SMFG RANGE
SMFG Range Safety Officers have the final say on all safety matters while on the range.
The SMFG Range and Safety Rules Have Been
Revised and Adopted As Of The September 2005
www.sunsetmountain.org /Safety.htm   (1496 words)

  
 [No title]   (Site not responding. Last check: )
SMFG is in much better shape this time around, however, having rebounded along with other Japanese banks thanks to an improved economy and efforts to purge years of accumulated bad debt.
SMFG said in September it would return 200 billion yen to the government by the end of March, leaving it with about 1.1 trillion yen in remaining debts, and the capital boost should allow it to further speed up its repayment.
Shares in SMFG closed unchanged from Wednesday at 741,000 yen ahead of the announcement, compared with a 0.85 percent fall in the Nikkei average and a 0.27 percent decline in the bank-sector index.
www.insurancebroadcasting.com /031105-8.htm   (684 words)

  
 CNN.com - Bank SMFG plans $2.5B share issue - Feb. 16, 2003
SMFG said it plans to set up an overseas special-purpose vehicle (SPV) to issue 100,000 preferred shares at 3 million yen each.
Shares in SMFG are trading 4.47 percent lower at 385,000 yen Monday morning.
SMFG's capital boost is the latest in a series of plans announced by Japan's biggest banks to increase their capital ahead of book-closing for the end of the financial year on March 31, when banks are expected to incur losses from loan charges.
cnn.com /2003/BUSINESS/02/16/japan.smfg.biz/index.html   (266 words)

  
 UK-Wire Equity News
SMFG set this fiscal year as the year for completing the intensive improvement in asset quality and has made intensive efforts centering on reduction of non-performing loans ('NPLs').
Accordingly, SMFG decided to give priority to restraining outflow of earnings from the standpoint of maintaining financial stability, regrettably proposing to decrease the year-end cash dividend on common stock for fiscal 2004 by 1,000 yen compared with its previous forecast, to the same level of the previous year's result.
SMFG's consolidated net loss is expected to be greater than SMBC's non-consolidated net loss by 110 billion yen, mainly because SMFG additionally made provisions for loan losses at the subsidiaries engaged in loan guarantees, in order to improve SMFG's financial soundness on a consolidated basis.
webfund5.financialexpress.net /webfund5/equityannouncement.wsp?unitcode=SBK&articleid=20050301081200Z1138   (825 words)

  
 SMFG Grant
AAASC is pleased to announce grant support from SMFG Foundation for nurses and physicians attending 25th AAASC Annual Meeting and Exhibition, March 3-6, 2004, at the Peabody Hotel, Orlando.
SMFG Foundation was established in Arizona by ASC pioneer Wallace A. Reed MD and his wife Maria E. Reed to provide partial grants for educational support, including for training medical personnel of free-standing ambulatory surgery facilities.
SMFG stands for Seed Money for Growth and underscores the vision of Maria Reed to provide support for the growth of individuals.
www.aaasc.org /education/smfg_grant.html   (238 words)

  
 Promise Co., Ltd.| News Releases
SMFG and Promise will exchange a wide range of officers and employees on a group basis to enhance the mutual understanding of each other's business.
SMFG and Promise aim to achieve about 500 billion yen in consumer loan balance in 3 years on a group basis, and further expand the business alliance to enhance the synergy effect.
SMFG will obtain a seat on Promise's board of directors, subject to the approval at Promise's general shareholders meeting.
www.promise.co.jp /english/news/news_20040621_171.html   (632 words)

  
 Forbes.com: UPDATE 5-SMFG in bad-loan JV with Goldman, sees higher profit   (Site not responding. Last check: )
SMFG President Yoshifumi Nishikawa told reporters he expects the bank to see a sharp fall in bad loans to under three trillion yen by the end of next March.
SMFG plans to take a 52 percent stake in the Tokyo-based turnaround joint venture, to be capitalised at 500 million yen, with the rest equally owned by Goldman and the principal finance unit of Daiwa Securities SMBC -- an investment banking firm owned by SMFG and Daiwa Securities Group <8601.T>.
SMFG and Goldman formed a broad business alliance in January, when Goldman agreed to boost SMFG's capital by purchasing 150 billion yen in convertible preferred shares.
www.forbes.com /newswire/2003/10/08/rtr1102664.html   (883 words)

  
 Japan's SMFG offers 1-to-1 share exchange ratio to UFJ - UPDATE
SMFG, which is fighting an uphill battle to persuade UFJ against pursuing its declared intent to merge with MTFG by October 2005, said that the one-to-one merger ratio represents a 30 pct premium over the recent market price of UFJ stock.
SMFG also said it stands prepared to provide up to 700 bln yen in capital to UFJ.
SMFG had 5,776,000 shares outstanding as of April 30, 2004.
www.advfn.com /news_japan-s-smfg-offers-1-to-1-share-exchange-ratio-to-ufj---update_8561073.html   (662 words)

  
 The Telegraph - Calcutta : Business   (Site not responding. Last check: )
The Sumitomo Mitsui Financial (SMFG) offer, which valued UFJ at a 23 per cent premium to its closing stock price, puts pressure on MTFG to come up with attractive terms for its own merger plan.
UFJ said it would consider the SMFG bid with the help of outside consultants, but added that it had no intention of changing its plans to merge with MTFG.
SMFG said on Tuesday it would offer one of its shares for every common share of UFJ, valuing UFJ at around 3.2 trillion yen ($29.13 billion) at current share prices, based on 5.09 million UFJ common shares outstanding.
www.telegraphindia.com /1040825/asp/business/story_3670328.asp   (343 words)

  
 Financial Advisings
SMFG slipped into the red in the business year to March 31 as it...
SMFG currently expects to earn net profit of Y180bn in the year to...
Wir bei SMFG sind fest entschlossen, unsere Anstrengungen für mehr...
www.financialadvisings.com /search3.cfm?so=smfg   (242 words)

  
 Tata Group | Tata Sons | The Tata re-engineering co
SMFG symbolises the four most important qualities that perception studies indicate the Tata brand needs to stand for.
At the top of an SMFG pyramid prepared by the team is one deceptively simple question — "Are you being touched by the Tatas today?" — the answer to which is expected to help group companies reassess and redefine themselves.
Efforts are on to ensure that the SMFG strategy is communicated in a proactive, responsive and aggressive manner to all constituents — customers, partners, shareholders, employees, media and, not to forget, competitors.
www.tata.com /tata_sons/articles/20020305_rengineering.htm   (1020 words)

  
 [No title]   (Site not responding. Last check: )
(SMFG) (8316.T: Quote, Profile, Research), Japan's third-biggest bank, reported on Thursday that its quarterly profits more than tripled due to a purge of problem loans, and said it is on track to meet its full-year target of a sharp turnaround in earnings.
SMFG's results for the first nine months of the business year, released on Thursday, implied a group net profit of 207.3 billion yen ($1.75 billion) in the October-December third quarter, up from 89.5 billion yen in the same period a year earlier.
SMFG's group net profit for April-December, the first three quarters of the business year, totalled 599.61 billion yen, up four-fold from a year earlier.
today.reuters.com /business/newsArticle.aspx?type=bankingFinancial&storyID=nT316487   (351 words)

  
 Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor
SMFG launched a rival bid for UFJ, which was rejected, prompting many analysts to expect the rejected suitor may look for other major acquisitions or mergers needed to give SMFG the size and resources required to remain a major force in Japan's consolidating financial industry.
SMFG and Daiwa both issued statements denying merger talks were set to begin, yet hinting it might be only a matter of time before they did.
He noted SMFG and Daiwa Securities already have a close relationship, and in the past merged their wholesale securities operations to create Daiwa Securities SMBC.
www.iii.co.uk /news?type=afxnews&articleid=5207469&subject=companies&action=article   (856 words)

  
 Globeinvestor.com: Japan Court Clears Way for Mega-Bank Deal
SMFG said it would inject the capital by the end of September in the form of preferred shares.
Earlier this month SMFG said it was prepared to swap one of its shares for each UFJ share, valuing UFJ at an unexpectedly pricey $29 billion.
SMFG has been keen to shoulder out MTFG and acquire UFJ because a UFJ-MTFG union would leave SMFG a distant third among Japanese banks, behind the new entity and currently top-ranked Mizuho Financial Group.
www.globeinvestor.com /servlet/ArticleNews/story/ROC/20040830/2004-08-30T151428Z_01_N30659445_RTRIDST_0_BUSINESS-FINANCIAL-JAPAN-BANKS-DC-COL   (988 words)

  
 How to Interpret the UFJ Merger Drama RIETI
This was quickly countered by SMFG on August 24 with the announcement of a new merger package, in which SMFG promised to offer up to ¥700 billion in capital and a one-for-one share swap, a scheme that would provide a 20 percent or greater premium to UFJ shareholders.
With SMFG's hat in the ring, the top managers of UFJ and MTFG have been unable to proceed with their merger plan based solely on their own logic.
By joining the fray, SMFG may be intending to raise the cost of the merger cost for its rival (MTFG) thereby securing a better competitive position vis-a-vis the new mega bank that would result from a UFJ-MTFG merger, even if it fails in its own takeover bid.
www.rieti.go.jp /en/columns/a01_0141.html   (1333 words)

  
 Today's SurgiCenter - The magazine for those responsible with implementing today's business and clinical solutions in ...   (Site not responding. Last check: )
Interested nurses and physicians are invited to fill in the SMFG Foundation application and fax or mail the application to the Foundation in Arizona.
SMFG grant applications, along with complete information on AAASC membership and registration for the AAASC silver anniversary meeting, are available from AAASC by calling (423) 915-1001.
Questions regarding SMFG and the application should be directed to grants administrator Mary Upton at (602) 840-7841.
www.surgicenteronline.com /hotnews/39h47366.html   (350 words)

  
 SMFG, Daiwa Securities Deny Merger Talks (phillyBurbs.com) | General
In light of the merger talks with Daiwa Securities, SMFG is expected to withdraw its proposal to integrate with UFJ Holdings Inc., the Nihon Keizai said.
Last year SMFG failed in a bid to merge with UFJ Holdings Inc., another megabank that eventually chose Mitsubishi Tokyo Financial Group Inc. as its partner to create the world's largest bank.
SMFG's trust banking unit, Sumitomo Trust and Banking Co., sued UFJ to block the planned merger, saying an earlier agreement it had with UFJ to buy its trust banking operations was legally binding.
www.phillyburbs.com /pb-dyn/news/24-02092005-447656.html   (522 words)

  
 UCSD - The Graduate School of International Relations and Pacific Studies   (Site not responding. Last check: )
Although SMFG has not yet formally withdrawn its own, more generous, offer, it may now turn its mind to a different big merger.
It was far behind Japan's other three big banks (MTFG, SMFG and Mizuho, currently the largest) in cleaning up bad loans, which were over 9% of its loan assets at the end of September.
Both UFJ and SMFG are active in consumer banking and small-business lending, and boast strong branch networks around Osaka and Nagoya.
www-irps.ucsd.edu /about/innews2005/econ022605.php   (789 words)

  
 Stage is set for rare Japanese takeover battle | FT   (Site not responding. Last check: )
Group (SMFG), the country's second largest, said it was interested in a merger.
A move by SMFG would represent an extremely rare example of a potentially hostile takeover in the normally clubby world of Japanese banking.......
SMFG is closely affiliated with Goldman Sachs, the US investment
www.chanahn.org /portal/node/240/print   (260 words)

  
 TIME Asia Print Page: Wedding Crasher -- September 6, 2004 / Vol. 164, No. 10   (Site not responding. Last check: )
Three of the country's largest banks are engaged in an unusual corporate-takeover battle that could develop into something unheard of in the country's clubby and consensus-driven banking community: a hostile takeover bid.
They are vying to merge with UFJ Holdings, the sickest and smallest of the country's Big Four banks, in a bidding war that highlights the degree to which government reform and revived economic vibrancy have unleashed a fresh wave of market competition in this traditionally moribund industry.
In fact, SMFG made the offer to UFJ management and not directly to shareholders, meaning the bid is not yet truly hostile.
www.time.com /time/asia/magazine/printout/0,13675,501040906-689489,00.html   (1302 words)

  
 Sumitomo Mitsui Denies Report on President   (Site not responding. Last check: )
SMFG's trust banking unit, Sumitomo Trust and Banking Co., has sued UFJ to block its planned merger with Mitsubishi Tokyo that would create the world's largest bank with combined assets of about 188 trillion yen ($1.8 trillion), surpassing U.S.-based Citigroup Inc.'s $1.19 trillion.
The battle between SMFG and Mitsubishi Tokyo over UFJ has received unusually widespread attention in this nation, where bank deals usually are carried out behind closed doors.
SMFG also denied the Yomiuri Shimbun report and other media reports claiming that the megabank may suffer a group net loss in the current fiscal year ending March 31 to cover bad loan write-offs.
www.comcast.net /data/news/2005/02/04/51825.xml   (321 words)

  
 Japanese banks vie for UFJ Holdings - International Business - MSNBC.com   (Site not responding. Last check: )
The SMFG offer, which valued UFJ at a 23 percent premium to its closing stock price, puts pressure on MTFG to come up with attractive terms for its own merger plan.
SMFG at that time offered more than 500 billion yen in capital and projected annual cost savings of 200 billion yen for the merged entity.
SMFG said on Tuesday it could offer UFJ 700 billion yen in capital if needed.
www.msnbc.msn.com /id/5805923   (895 words)

  
 BBC NEWS | Business | Japan bank shares up on link talk
SMFG shares climbed by 2.7% to 717,000, and Daiwa added 5.3% to 740 yen.
Combining SMFG, Japan's third-biggest lender, and Daiwa, the country's second-largest brokerage firm, would create a company with assets of more than $1,000bn (£537bn).
SMFG President Yoshifumi Nishikawa said that the companies needed to bolster their businesses.
news.bbc.co.uk /1/hi/business/4252469.stm   (256 words)

  
 CNN.com - UFJ court win clouds bank merger - Aug 11, 2004
On Sunday, SMFG president Yoshifumi Nishikawa told Japanese television he had offered UFJ more than 500 billion yen ($4.52 billion) in a formal merger proposal.
A merger between UFJ and SMFG would create a group with total assets of 180 trillion yen.
SMFG was 1.2 percent ahead to 645,000 yen and MTFG ended almost 7 percent higher to 1.02 million yen.
edition.cnn.com /2004/BUSINESS/08/11/japan.ufj   (488 words)

  
 Merger of SMFG and UFJ can lead to jobs loss - FinanceGates.com   (Site not responding. Last check: )
Japanese two biggest banks merge can lead to 10,000 jobs (13% of the total workforce) to be lost or transferred in the next four years.
In the process of restructuring redundancies, early retirement, transfers of staff to affiliated and client companies and the use of more part-time workers are possible.
Last week SMFG revealed the terms of its offer, such as a one-for-one share exchange that valued UFJ at $29.2 billion at the time, a 23% premium to its share price, a capital injection of up to Y700bn and Y200bn cost savings.
www.financegates.com /news/banking/2004-08-30/smfg_and_ufj.html   (297 words)

  
 AORN Online: Events:   (Site not responding. Last check: )
A limited amount of funding is available through the SMFG Foundation for employees of freestanding ambulatory surgery centers who wish to attend FASA’s Nurses Seminar.
For example, SMFG would consider approval of registration fees if transportation and/or lodging was already available to the employee.
For further information: write to the SMFG Foundation, 1040 East McDowell Road, Phoenix, AZ 85006, or call (602) 258-1521.
www.aorn.org /Events/fasa/registration.asp   (117 words)

  
 Morrison & Foerster : Legal Updates & News : Legal Updates : An Assessment of the UFJ Merger and Integration Protective ...   (Site not responding. Last check: )
While the Delaware courts have not fixed a "magic number" for breakup fees, that is, have not ruled on an acceptable, non-coercive, range for break-up fees under Delaware laws, US practitioners generally consider fees in the range of one to five percent range to be reasonable.
First, the UFJ board clearly had reasonable concerns about SMFG's proposal, based on SMFG's weaker balance sheet and the substantial financial support it was receiving from the government.
5: The only plausible benchmark for alternative financing that we are aware of is SMFG's proposal, but this proposal had different terms, and UFJ's management indicated that they did not view the proposal as viable given conditions on the proposal and the need for regulatory approvals that might not be available by September 30, 2004.
www.mofo.com /tools/print.asp?/mofo_dev/news/updates/files/update1422.html   (3496 words)

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