Statement re Result of Purchase of Shares of Meiko Na#XS
March 20 2003 - 8:51AM
UK Regulatory
BW20030320002030 20030320T135124Z UTC
( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re Result of Purchase
of Shares of Meiko National Securities Co., Ltd. Through ToSTNeT-2
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--March 20, 2003--
Sumitomo Mitsui Banking Corporation ("SMBC", President and CEO:
Yoshifumi Nishikawa), a wholly-owned subsidiary of Sumitomo Mitsui
Financial Group Inc.("SMFG", President and CEO: Yoshifumi Nishikawa),
announced today the result of the purchase of common shares of Meiko
National Securities Co., Ltd. ("Meiko National") as announced
yesterday (March 19th, 2003) as detailed below.
1. Reason of Purchase
Meiko National and Sakura Friend Securities Co., Ltd., a
subsidiary of SMBC, will merge to form a new securities company
on April 1st, 2003. After the merger, the new company will
integrate the two companies' customer bases, human resources,
office networks and other corporate resources in order to
enhance its capability to provide higher value-added products
and services to its customers and strengthen its earning power.
The new company will be called "SMBC Friend Securities Co, Ltd."
("SMBC Friend") to further reinforce the cooperation with SMFG's
group companies, especially with SMBC.
Against this background, SMBC has decided to purchase common
shares of Meiko National to further strengthen the capital
relationship with SMBC Friend.
2. Outline of Purchase of Shares of Meiko National through ToSTNeT-2
(1) Type of Shares Purchased:
Common shares of Meiko National
(2) Number of Shares Purchased:
40,849,500 shares
(3) Purchase Price
212yen
(4) Date of Purchase
March 20th, 2003
(5) Method of Purchase
Through ToSTNeT-2 of the Tokyo Stock Exchange
As a result of this purchase, SMBC owns 79,935,057 common shares
(47.1% of the outstanding voting shares, including 2.1% of the
indirectly owned voting shares) of Meiko National, and becomes its
parent company in terms of consolidated accounting.
In addition, as mentioned above, after Meiko National's merger with
Sakura Friend to form SMBC Friend on April 1st, 2003, SMBC will own
45.5% of the outstanding voting shares of SMBC Friend and become its
parent company in terms of consolidated accounting after the merger as
well.
This announcement causes no amendment on the SMFG's forecast of
financial results for the year ending March 31st, 2003.
Short Name: Sumitomo Mitsui Bnkg.
Category Code: STR
Sequence Number: 00003142
Time of Receipt (offset from UTC): 20030320T134659+0000
--30--ne/uk*
CONTACT: Sumitomo Mitsui Bnkg
KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
INDUSTRY KEYWORD: BANKING
SOURCE: Sumitomo Mitsui Bnkg
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