BW20030528000056 20030528T132511Z UTC
( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Final Results - Part 1
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--May 28, 2003--
Financial Highlights for FY2002
1. Financial Results
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
-----------------
FY2002 Change FY2001
------------------------------------------------------------------------------------------------------------------------
Gross banking profit 1 1,760,684 (104,195) 1,864,879
2
------------------------------------------------------------------------------------------------------------------------
Gross domestic profit 3 1,252,898 (14,782) 1,267,680
4
--------------------------------------------------------------------------------------------------------------------
Net interest income 5 1,025,797 (64,059) 1,089,856
--------------------------------------------------------------------------------------------------------------
Trust fees 6 7 7 -
--------------------------------------------------------------------------------------------------------------
Net fees and commissions 7 152,849 30,341 122,508
--------------------------------------------------------------------------------------------------------------
Net trading income 8 2,496 1,492 1,004
--------------------------------------------------------------------------------------------------------------
Net other operating income 9 71,747 17,439 54,308
10
--------------------------------------------------------------------------------------------------------------------
Gross international profit 11 507,785 (89,413) 597,198
12
--------------------------------------------------------------------------------------------------------------------
Net interest income 13 197,539 (199,642) 397,181
--------------------------------------------------------------------------------------------------------------
Net fees and commissions 14 41,816 (1,187) 43,003
--------------------------------------------------------------------------------------------------------------
Net trading income 15 193,504 73,220 120,284
--------------------------------------------------------------------------------------------------------------
Net other operating income 16 74,925 38,198 36,727
17
------------------------------------------------------------------------------------------------------------------------
Expenses (excluding non-recurring losses) 18 (647,040) 31,353 (678,393)
------------------------------------------------------------------------------------------------------------------------
Personnel expenses 19 (253,907) 22,546 (276,453)
--------------------------------------------------------------------------------------------------------------------
Non-personnel expenses 20 (357,682) 12,141 (369,823)
--------------------------------------------------------------------------------------------------------------------
Taxes 21 (35,450) (3,335) (32,115)
========================================================================================================================
Banking profit (excluding transfer to
general reserve for possible loan losses) 22 1,113,643 (72,841) 1,186,484
23
========================================================================================================================
Transfer to general reserve for possible loan losses 24 (238,132) 266,531 (504,663)
------------------------------------------------------------------------------------------------------------------------
Banking profit 25 875,511 193,690 681,821
------------------------------------------------------------------------------------------------------------------------
Gains(losses) on bonds 26 135,659 68,526 67,133
------------------------------------------------------------------------------------------------------------------------
Non-recurring gains(losses) 27 (1,472,700) (269,251) (1,203,449)
------------------------------------------------------------------------------------------------------------------------
28
--------------------------------------------------------------------------------------------------------------------
Write-off of loans 29 (284,418) 945 (285,363)
--------------------------------------------------------------------------------------------------------------
Transfer to specific reserve 30 (375,359) 288,601 (663,960)
--------------------------------------------------------------------------------------------------------------
Transfer to reserve for losses on loans sold 31 (15,245) 21,789 (37,034)
--------------------------------------------------------------------------------------------------------------
Losses on loans sold to CCPC 32 (16,370) (8,007) (8,363)
--------------------------------------------------------------------------------------------------------------
Losses on sale of delinquent loans 33 (148,870) (98,281) (50,589)
--------------------------------------------------------------------------------------------------------------
Transfer to loan loss reserve for
specific overseas
countries 34 3,879 (667) 4,546
--------------------------------------------------------------------------------------------------------------
35
--------------------------------------------------------------------------------------------------------------------
Gains(losses) on stocks 36 (635,708) (504,951) (130,757)
--------------------------------------------------------------------------------------------------------------------
Gains on sale of stocks 37 51,205 (3,051) 54,256
--------------------------------------------------------------------------------------------------------------
Losses on sale of stocks 38 (159,448) (105,142) (54,306)
--------------------------------------------------------------------------------------------------------------
Losses on devaluation of stocks 39 (527,465) (396,757) (130,708)
--------------------------------------------------------------------------------------------------------------------
Enterprise taxes by Local Governments 40 (7,811) 22,189 (30,000)
--------------------------------------------------------------------------------------------------------------------
Others 41 7,204 9,130 (1,926)
========================================================================================================================
Ordinary profit(loss) 42 (597,188) (75,559) (521,629)
========================================================================================================================
Extraordinary gains(losses) 43 (73,799) (58,814) (14,985)
------------------------------------------------------------------------------------------------------------------------
Gains(losses) on disposition of premises
and
equipment 44 (26,169) (11,835) (14,334)
--------------------------------------------------------------------------------------------------------------------
Gains on disposition of premises and equipment 45 5,498 1,129 4,369
--------------------------------------------------------------------------------------------------------------
Losses on disposition of premises and equipment 46 (31,668) (12,964) (18,704)
--------------------------------------------------------------------------------------------------------------------
Amortization of net transition obligation from
initial application of the new accounting
standard for employee retirement benefits 47 (20,167) - (20,167)
------------------------------------------------------------------------------------------------------------------------
Income(loss) before income taxes 48 (670,988) (134,373) (536,615)
------------------------------------------------------------------------------------------------------------------------
Income taxes, current 49 (40,299) (7,540) (32,759)
------------------------------------------------------------------------------------------------------------------------
Income taxes, deferred 50 232,983 (13,539) 246,522
========================================================================================================================
Net income(loss) 51 (478,304) (155,452) (322,852)
========================================================================================================================
(Notes) 1. Amount less than JPY 1 million are rounded down. Figures in parenthesis indicate the amount of loss or
decrease.
2. Total credit cost includes that of the former Wakashio Bank amounts to JPY 770 million, which was booked
in extraordinary losses.
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
-----------------
FY2002 Change FY2001
------------------------------------------------------------------------------------------------------------------------
Consolidated gross profit 1 2,184,006 106,325 2,077,681
------------------------------------------------------------------------------------------------------------------------
Net interest income 2 1,399,504 (50,279) 1,449,783
---------------------------------------------------------------------------------------------------------------
Trust fees 3 7 7 -
---------------------------------------------------------------------------------------------------------------
Net fees and commissions 4 352,900 33,368 319,532
---------------------------------------------------------------------------------------------------------------
Net trading profit 5 205,770 76,338 129,432
---------------------------------------------------------------------------------------------------------------
Net other operating income 6 225,823 46,891 178,932
------------------------------------------------------------------------------------------------------------------------
General and administrative expenses 7 (889,237) 46,316 (935,553)
------------------------------------------------------------------------------------------------------------------------
Total credit cost 8 (1,200,904) 502,459 (1,703,363)
------------------------------------------------------------------------------------------------------------------------
Write-off of loans 9 (364,605) 27,318 (391,923)
---------------------------------------------------------------------------------------------------------------
Transfer to specific reserve 10 (407,963) 273,494 (681,457)
---------------------------------------------------------------------------------------------------------------
Transfer to general reserve for possible loan
losses 11 (250,636) 276,809 (527,445)
---------------------------------------------------------------------------------------------------------------
Others 12 (177,698) (75,161) (102,537)
------------------------------------------------------------------------------------------------------------------------
Gains(losses) on stocks 13 (621,526) (603,718) (17,808)
------------------------------------------------------------------------------------------------------------------------
Equity in earnings of affiliates 14 5,718 2,754 2,964
------------------------------------------------------------------------------------------------------------------------
Other income(expenses) 15 6,193 10,740 (4,547)
========================================================================================================================
Ordinary profit(loss) 16 (515,749) 64,879 (580,628)
========================================================================================================================
Extraordinary gains(losses) 17 (75,164) (51,454) (23,710)
------------------------------------------------------------------------------------------------------------------------
Income(loss) before income taxes and minority interests 18 (590,914) 13,424 (604,338)
------------------------------------------------------------------------------------------------------------------------
Income taxes, current 19 (66,068) 35,792 (101,860)
------------------------------------------------------------------------------------------------------------------------
Income taxes, deferred 20 225,190 (64,115) 289,305
------------------------------------------------------------------------------------------------------------------------
Minority interests in net income(loss) 21 (33,567) 13,426 (46,993)
========================================================================================================================
Net income(loss) 22 (465,359) (1,472) (463,887)
===============================================================----------------------===================================
(Note) Consolidated gross profit = (Interest income - interest expenses)+ Trust fees + (Fees and commissions (income)
- Fees and commissions (expenses) ) + (Trading profits - Trading losses) + (Other income - Other losses)
(Reference) (Billions of yen)
------------------------------------------------------------------------------------------------------------------------
Consolidated banking profit 23 1,131.0 139.1 991.9
------------------------------------------------------------------------------------------------------------------------
(Note)Consolidated banking profit = (SMBC Non-consolidated banking profit (excl. transfer to general reserve)) + (Other
subsidiaries' ordinary profit (excl. temporary factors) + (Affiliates' ordinary profit) X (Ownership ratio) - (Internal
transaction (dividends, etc.))
(Number of subsidiaries and affiliates)
---------------------------------------------------------------------------------------------------------------
-----------------
Mar. 31, 2003 Change Mar. 31, 2002
---------------------------------------------------------------------------------------------------------------
Consolidated subsidiaries 24 170 26 144
---------------------------------------------------------------------------------------------------------------
Affiliated companies accounted for by equity
method 25 47 9 38
---------------------------------------------------------------------------------------------------------------
2. Banking Profit per Employee / Overhead Ratio
(Millions of yen,
%)
------------------------------------------------------------------------------------------------------------------------
FY2002 FY2001
--------------------
Change
------------------------------------------------------------------------------------------------------------------------
(1)Banking profit (excluding transfer to general reserve for
possible loan losses) 1,113,643 (72,841) 1,186,484
------------------------------------------------------------------------------------------------------------------------
Per employee (thousands of yen) 50,459 1,115 49,344
------------------------------------------------------------------------------------------------------------------------
(2)Banking profit 875,511 193,690 681,821
------------------------------------------------------------------------------------------------------------------------
Per employee (thousands of yen) 39,669 11,313 28,356
------------------------------------------------------------------------------------------------------------------------
(3)Banking profit (excluding transfer to general reserve for
possible loan losses and gains(losses) on bonds) 977,984 (141,366) 1,119,350
------------------------------------------------------------------------------------------------------------------------
Per employee (thousands of yen) 44,312 (2,240) 46,552
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Overhead ratio 36.7 0.3 36.4
------------------------------------------------------------------------------------------------------------------------
(Notes) 1. Employees include executive officers (who are not
also board members) and overseas local staffs, and
exclude employees temporarily transferred to other
companies, temporary staff, and part-time
staff.
2. For per-employee caluculation purpose, the average number of employees during the period is used.
3. Overhead ratio = Expenses (excluding non-recurring losses) / Gross banking profit
3. Interest Spread (Domestic)
(%)
------------------------------------------------------------------------------------------------------------------------
FY2002 FY2001
--------------------------------------------------------------
--------------------------------------
Second half of FY2002
Change from
six-months
period ended
Sept.2002
------------------------------------------------------------------------------------------------------------------------
(1)Yield on interest earning assets (A) 1.47 1.49 0.02 1.54
------------------------------------------------------------------------------------------------------------------------
Interest earned on loans and bills
discounted (C) 1.73 1.72 (0.01) 1.84
-----------------------------------------------------------------------------------------------------------------
Interest earned on securities 0.65 0.60 (0.10) 0.90
------------------------------------------------------------------------------------------------------------------------
(2)Total cost of funding (including
expenses) (B) 0.88 0.89 0.02 0.98
------------------------------------------------------------------------------------------------------------------------
Cost of interest bearing
liabilities 0.10 0.10 0.00 0.16
-----------------------------------------------------------------------------------------------------------------
Interest paid
on deposits,
etc. (D) 0.04 0.03 (0.01) 0.08
---------------------------------------------------------------------------------------------
Interest paid
on other
liabilities 0.20 0.22 0.03 0.27
-----------------------------------------------------------------------------------------------------------------
Expense ratio 0.78 0.79 0.02 0.82
------------------------------------------------------------------------------------------------------------------------
(3)Overall interest spread (A) - (B) 0.59 0.60 0.00 0.56
------------------------------------------------------------------------------------------------------------------------
Interest spread (C) - (D) 1.69 1.69 0.00 1.76
------------------------------------------------------------------------------------------------------------------------
(Referrence) Progress in improvement of loan spread with corporate clients ( managerial accounting basis )
(%)
-------------------------------------------------------------------------------------------------------
Improvement in FY2002
-------------------------------------------------------------------------------------------------------
Loans to small and medium-sized corporations (Middle
Market Banking Unit) + 0.24
------------------------------------------------------------------------------------------------
Loans targeted
for spread
improvement + 0.40
------------------------------------------------------------------------------------------------
Loans to large corporations (Corporate Banking Unit) + 0.13
------------------------------------------------------------------------------------------------
Total + 0.22
-------------------------------------------------------------------------------------------------------
4. Gains(Losses) on Securities
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
FY2002 FY2001
--------------------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Gains(Losses) on bonds 135,659 68,526 67,133
------------------------------------------------------------------------------------------------------------------------
Gains on sales 174,871 48,658 126,213
-----------------------------------------------------------------------------------------------------------------
Losses on sales (37,034) 13,510 (50,544)
-----------------------------------------------------------------------------------------------------------------
Gains on redemption - (1) 1
-----------------------------------------------------------------------------------------------------------------
Losses on redemption (8) 2,823 (2,831)
-----------------------------------------------------------------------------------------------------------------
Losses on devaluation (2,169) 3,535 (5,704)
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Gains(Losses) on stocks (635,708) (504,951) (130,757)
------------------------------------------------------------------------------------------------------------------------
Gains on sales 51,205 (3,051) 54,256
-----------------------------------------------------------------------------------------------------------------
Losses on sales (159,448) (105,142) (54,306)
-----------------------------------------------------------------------------------------------------------------
Losses on devaluation (527,465) (396,757) (130,708)
------------------------------------------------------------------------------------------------------------------------
5. Unrealized Gains(Losses) on
Securities
(1) Evaluation method of securities
---------------------------------------------------------------------------------------------------------------
Trading purpose Fair value method (net evaluation gains(losses) recognized in income
statement)
---------------------------------------------------------------------------------------------------------------
Held-to-maturity purpose Amortized cost method
---------------------------------------------------------------------------------------------------------------
Other securities With market value Fair
value method (net
evaluation
gains(losses)
directly charged
to stockholders'
equity)
-------------------------------------------------------------------------------------------
Without market value Cost method or amortized cost method
---------------------------------------------------------------------------------------------------------------
Stocks of subsidiaries and affiliates Cost method
---------------------------------------------------------------------------------------------------------------
(Reference) Securities in money held in
trust
---------------------------------------------------------------------------------------------------------------
Investment purpose Fair value method (net evaluation gains(losses) recognized in income
statement)
---------------------------------------------------------------------------------------------------------------
Other money With market value Fair value method (net evaluation gains(losses) directly charged to
stockholders' equity)
-------------------------------------------------------------------------------------------
held in trust Without market value Cost method or amortized cost method
---------------------------------------------------------------------------------------------------------------
(2) Unrealized gains(losses)
(Millions
of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------------------------------------------------
Unrealized gains(losses) Unrealized gains(losses)
---------------------------------
-----------
(a) (a) - (b) Gains Losses (b) Gains Losses
------------------------------------------------------------------------------------------------------------------------
Held-to-maturity purpose 3,803 2,657 3,909 (105) 1,146 1,165 (19)
---------------------------------------------------------------------------------------------------------------
Stocks of subsidiaries and
affiliates (20,428) (20,327) 624 (21,052) (101) 12,740 (12,841)
---------------------------------------------------------------------------------------------------------------
Other securities (17,857) 464,556 257,680 (275,537) (482,413) 244,628 (727,042)
---------------------------------------------------------------------------------------------------------------
Stocks (152,354) 348,352 105,269 (257,624) (500,706) 181,134 (681,841)
-------------------------------------------------------------------------------------------------
Bonds 108,712 71,138 112,417 (3,705) 37,574 55,768 (18,195)
-------------------------------------------------------------------------------------------------
Others 25,785 45,066 39,993 (14,207) (19,281) 7,723 (27,005)
---------------------------------------------------------------------------------------------------------------
Other money held in trust (44) 3,781 510 (555) (3,825) 135 (3,960)
---------------------------------------------------------------------------------------------------------------
Total (34,526) 450,667 262,725 (297,251) (485,193) 258,669 (743,864)
---------------------------------------------------------------------------------------------------------------
Stocks (172,782) 328,026 105,894 (278,677) (500,808) 193,875 (694,683)
-------------------------------------------------------------------------------------------------
Bonds 111,528 73,523 115,234 (3,705) 38,005 56,200 (18,195)
-------------------------------------------------------------------------------------------------
Others 26,727 49,118 41,597 (14,869) (22,391) 8,593 (30,985)
------------------------------------------------------------------------------------------------------------------------
(Notes) 1. The figures above include unrealized gains(losses) on
negotiable certificates of deposit in 'deposits with banks' and
commercial papers as well as claims on loan trust in 'commercial paper and other debt purchased'.
2. Unrealized gains(losses) of stocks (excluding stocks of subsidiaries and affiliates) are calculated
with the avarege market price during the final month
of the fiscal year. Rest of the securities are evaluated at the market price as of the balance
sheet date.
3. "Other securities" and "other money held in trust" are evaluated and recorded on the balance sheet at
market prices. The figures in the table above
indicate the difference between the acquisition
cost (or amortized costs) and the balance sheet
amounts.
4. Figures of unrealized gains(losses) as of Mar. 31, 2003 are those after the write-off of unrealized
losses on securities due to the merger. For the detail of
the merger accounting, please see 21 (2).
(Millions
of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------------------------------------------------
Unrealized gains(losses) Unrealized gains(losses)
----------------------------------------------- ---------------------------------
-----------
(a) (a) - (b) Gains Losses (b) Gains Losses
------------------------------------------------------------------------------------------------------------------------
Held-to-maturity purpose 5,882 4,990 5,988 (105) 892 1,262 (370)
---------------------------------------------------------------------------------------------------------------
Other securities (30,643) 464,864 272,943 (303,587) (495,507) 260,042 (755,549)
---------------------------------------------------------------------------------------------------------------
Stocks (165,442) 343,863 112,952 (278,395) (509,305) 192,620 (701,926)
-------------------------------------------------------------------------------------------------
Bonds 111,164 74,705 117,093 (5,928) 36,459 58,810 (22,351)
-------------------------------------------------------------------------------------------------
Others 23,634 46,295 42,897 (19,263) (22,661) 8,610 (31,271)
---------------------------------------------------------------------------------------------------------------
Other money held in trust (44) 3,781 510 (555) (3,825) 135 (3,960)
---------------------------------------------------------------------------------------------------------------
Total (24,805) 473,635 279,443 (304,248) (498,440) 261,440 (759,881)
---------------------------------------------------------------------------------------------------------------
Stocks (165,442) 343,863 112,952 (278,395) (509,305) 192,620 (701,926)
-------------------------------------------------------------------------------------------------
Bonds 116,016 79,382 121,945 (5,928) 36,634 59,303 (22,669)
-------------------------------------------------------------------------------------------------
Others 24,620 50,389 44,545 (19,925) (25,769) 9,515 (35,284)
------------------------------------------------------------------------------------------------------------------------
(Notes) 1. The figures above include unrealized gains(losses) on
negotiable certificates of deposit in 'deposits with banks' and
commercial papers as well as claims on loan trust in 'commercial paper and other debt purchased'.
2. Unrealized gains(losses) of stocks are calculated with the avarege market price during the final
month of the fiscal year. Rest of the securities
are evaluated at the market price as of the balance sheet date.
3. "Other securities" and "other money held in trust" are evaluated and recorded on the consolidated
balance sheet at market prices. The figures
in the table above indicate the difference
between the acquisition cost (or amortized
costs) and the balance sheet amounts.
6. Overview of (Headging purpose) Derivative Transactions
(Billions of yen) (Billions of
yen)
------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------------- ----------------------------------------------
Net Net
---------------------- --------------------
evaluation Deferred evaluation Deferred
Assets Liabilities gains(losses)gains(losses) Assets Liabilities gains(losses)gains(losses)
(1) (2) (1) - (2) (3) (1) (2) (1) - (2) (3)
------------------------------------------------------------- ----------------------------------------------
Interest
rate swaps 398.5 175.2 223.3 117.3 750.0 284.3 465.7 98.8
---------------------------------------------------------- ----------------------------------------------
Currency
swaps 419.5 408.0 11.5 9.6 438.0 414.1 23.9 17.3
---------------------------------------------------------- ----------------------------------------------
Others 58.9 31.5 27.4 28.9 35.7 40.6 (4.9) (23.1)
---------------------------------------------------------- ----------------------------------------------
Total 876.9 614.7 262.2 155.8 1,223.7 739.0 484.7 93.0
------------------------------------------------------------- ----------------------------------------------
(Notes) 1. Derivative transactions are carried at fair value in the balance sheet
except those to which 'the short-cut method for interest rate swap' is applied.
2. The Bank adopts deferred hedge accounting by applying 'the risk adjustment approach', which is
one of the methods of macro hedging.
(Reference) Contact amount of interest rate swaps (to which deferred hedge accounting is
applied), classified by maturity
(Billions of yen) (Billions of
yen)
------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------------- ----------------------------------------------
1 year 1-5 over 1 year 1-5 over
or less years 5 years Total or less years 5 years Total
------------------------------------------------------------- ----------------------------------------------
Receivable
fixed rate
/payable
floating
rate 20,063.1 22,188.0 6,588.7 48,839.8 26,989.8 23,894.6 2,754.3 53,638.7
---------------------------------------------------------- ----------------------------------------------
Receivable
floating
rate
/payable
fixed rate 12,075.6 14,597.6 3,509.8 30,183.0 15,786.2 9,530.3 2,801.4 28,117.9
---------------------------------------------------------- ----------------------------------------------
Receivable
floating
rate
/payable
floating
rate 5.2 866.6 84.5 956.3 133.5 651.5 245.1 1,030.1
---------------------------------------------------------- ----------------------------------------------
Total contract
amount 32,143.9 37,652.2 10,183.0 79,979.1 42,909.5 34,076.4 5,800.8 82,786.7
------------------------------------------------------------- ----------------------------------------------
7. Employee Retirement Benefits
(1) Balance of the retirement benefit liability
(Millions of yen)
-------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------
Change
-------------------------------------------------------------------------------------------------------------
Balance of the retirement benefit liability (A) 1,104,255 22,572 1,081,683
----------------------------------------------------------------------------------------------------
Market value of pension assets (B) 706,502 (28,431) 734,933
----------------------------------------------------------------------------------------------------
Reserve for employee retirement benefits (C) 72,816 (47,999) 120,815
----------------------------------------------------------------------------------------------------
Prepaid pension cost (D) - - -
----------------------------------------------------------------------------------------------------
Unrecognized net obligation from change of (E)
accounting method 40,335 (20,167) 60,502
----------------------------------------------------------------------------------------------------
Unrecognized prior service cost (deductable (F)
from the obligation) (52,701) 6,394 (59,095)
----------------------------------------------------------------------------------------------------
Unrecognized actuarial net gain(loss) (A-B-
C+D-
E-F) 337,302 112,776 224,526
-------------------------------------------------------------------------------------------------------------
(Note) Discount rate as of Mar. 31, 2002 is that for the
former SMBC.
(Reference) (Millions of yen)
-----------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------
Change
-------------------------------------------------------------------------------------------------------------
Balance of the retirement benefit liability (A) 1,164,570 (11,389) 1,175,959
-------------------------------------------------------------------------------------------------------------
Market value of pension assets (B) 723,175 (53,913) 777,088
----------------------------------------------------------------------------------------------------
Reserve for employee retirement benefits (C) 101,408 (46,564) 147,972
----------------------------------------------------------------------------------------------------
Prepaid pension cost (D) - (27) 27
----------------------------------------------------------------------------------------------------
Unrecognized net obligation from change of (E)
accounting method 44,087 (26,193) 70,280
----------------------------------------------------------------------------------------------------
Unrecognized prior service cost (deductable (F)
from the obligation) (53,218) 7,489 (60,707)
----------------------------------------------------------------------------------------------------
Unrecognized actuarial net gain(loss) (A-B-
C+D-
E-F) 349,118 107,765 241,353
-------------------------------------------------------------------------------------------------------------
(2) Cost for employee retirement benefits
(Millions of yen)
-------------------------------------------------------------------------------------------------------------
FY2002 FY2001
----------------------------------
Change
-------------------------------------------------------------------------------------------------------------
Cost for employee retirement benefits 65,248 13,020 52,228
-------------------------------------------------------------------------------------------------------------
Service cost 21,782 377 21,405
----------------------------------------------------------------------------------------------------
Interest cost 32,394 (2,938) 35,332
----------------------------------------------------------------------------------------------------
Expected returns on pension assets (31,056) 2,077 (33,133)
----------------------------------------------------------------------------------------------------
Amortization of net obligation from change of
accounting
method (amortized using the straight-line method
over 5 years) 20,167 - 20,167
----------------------------------------------------------------------------------------------------
Amortization of prior service cost (6,394) (1,542) (4,852)
----------------------------------------------------------------------------------------------------
Amortization of actuarial net gain(loss) 22,954 17,937 5,017
----------------------------------------------------------------------------------------------------
Others 5,400 (2,890) 8,290
-------------------------------------------------------------------------------------------------------------
(Reference) (Millions of yen)
-------------------------------------------------------------------------------------------------------------
FY2002 FY2001
----------------------------------
Change
-------------------------------------------------------------------------------------------------------------
Cost for employee retirement benefits 79,650 15,097 64,553
-------------------------------------------------------------------------------------------------------------
8. Capital Ratio
(Billions of yen, %)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
-------------------------------------------------
[Preliminary] Change
-----------------------------------------------------------------------------------------------------------
(1) Capital ratio 10.10 (0.35) 10.45
(2) Tier I 3,255.9 (463.5) 3,719.4
Net unrealized losses on
other securities (24.2) 280.6 (304.8)
(3) Tier II 2,961.6 (543.2) 3,504.8
(a) Unrealized gains on
securities - - -
(b) Unrealized
appreciation of land 71.7 (11.2) 82.9
(c) General reserve 739.6 (104.8) 844.4
(d) Subordinated debt 2,150.3 (427.2) 2,577.5
(4) Subtraction items 238.6 75.3 163.3
(5) Total capital (2) + (3) - (4) 5,978.9 (1,081.9) 7,060.8
(6) Risk-adjusted assets 59,166.8 (8,381.2) 67,548.0
-----------------------------------------------------------------------------------------------------------
9. ROE
(%)
------------------------------------------------------------------------------------------------------------------------
FY2002 FY2001
----------------------------------------------------------------------------------
Change Former SMBC Former
Wakashio Bank
------------------------------------------------------------------------------------------------------------------------
ROE (numerator: Banking profit*) 76.0 53.6 15.2
------------------------------------------------------------- ---------------------------------
ROE (numerator: Banking profit) 59.5 30.5 14.7
------------------------------------------------------------- ---------------------------------
ROE (numerator: Net income) (34.1) (15.5) 0.0
------------------------------------------------------------------------------------------------------------------------
*Excluding transfer to general reserve for possible loan
losses
(%)
-----------------------------------------------------------------------------------------------------------
FY2002 FY2001
-------------------------------------------------
Change
-----------------------------------------------------------------------------------------------------------
ROE (numerator: Net income) (43.0) (20.8) (22.2)
-----------------------------------------------------------------------------------------------------------
ROE= Net income - Dividends on preferred stocks
---------------------------------------------------------------------------------------------------------------
{(Stockholders' equity at the beginning of the term) - (Number of preferred stocks at the beginning of the term) X
(Issue price) + (Stockholders'equity at the end of the term) - (Number of preferred stocks at the end of the term)X
(Issue price)} /2
(%)
-----------------------------------------------------------------------------------------------------------
FY2002 FY2001
-------------------------------------------------
Change
-----------------------------------------------------------------------------------------------------------
Fully-diluted ROE (numerator: Net
income) (17.4) (3.7) (13.7)
-----------------------------------------------------------------------------------------------------------
(Note) Fully-diluted basis, including convertible preferred stocks and
mandatorily exchangeable subordinated notes
10. Classification under Self-Assessment, Disclosure of Problem Assets, and Write-Offs/Reserves
To view this information please visit:
http://www.smfg.co.jp/english/financial/statement/h1503fgfi_pdf/h1503_e3_00.pdf
11. Risk-Monitored Loans
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
-----------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Risk- Bankrupt loans
monitored
loans 172,403 (24,700) 197,103
-------------------------------------------------------------------------------------------------------------
Non-accrual loans 2,390,173 (809,504) 3,199,677
-------------------------------------------------------------------------------------------------------------
Past due loans (3 months or more) 114,756 22,144 92,612
-------------------------------------------------------------------------------------------------------------
Restructured loans 2,492,199 145,001 2,347,198
-------------------------------------------------------------------------------------------------------------
Total 5,169,531 (667,061) 5,836,592
------------------------------------------------------------------------------------------------------------------------
Amount of direct reduction 925,485 (455,322) 1,380,807
------------------------------------------------------------------------------------------------------------------------
Total loans (term-end balance) 57,282,365 (3,019,954) 60,302,319
------------------------------------------------------------------------------------------------------------------------
(%)
------------------------------------------------------------------------------------------------------------------------
Ratio to Bankrupt loans
total loans 0.3 0.0 0.3
-------------------------------------------------------------------------------------------------------------
Non-accrual loans 4.2 (1.1) 5.3
-------------------------------------------------------------------------------------------------------------
Past due loans (3 months or more) 0.2 0.0 0.2
-------------------------------------------------------------------------------------------------------------
Restructured loans 4.4 0.5 3.9
-------------------------------------------------------------------------------------------------------------
Total 9.0 (0.7) 9.7
------------------------------------------------------------------------------------------------------------------------
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
-----------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Risk- Bankrupt loans
monitored
loans 201,392 (26,092) 227,484
-------------------------------------------------------------------------------------------------------------
Non-accrual loans 2,710,164 (889,586) 3,599,750
-------------------------------------------------------------------------------------------------------------
Past due loans (3 months or more) 130,353 27,591 102,762
-------------------------------------------------------------------------------------------------------------
Restructured loans 2,728,791 174,420 2,554,371
-------------------------------------------------------------------------------------------------------------
Total 5,770,700 (713,667) 6,484,367
------------------------------------------------------------------------------------------------------------------------
Amount of direct reduction 1,273,360 (495,480) 1,768,840
------------------------------------------------------------------------------------------------------------------------
Total loans (term-end balance) 61,082,946 (2,562,640) 63,645,586
------------------------------------------------------------------------------------------------------------------------
(%)
------------------------------------------------------------------------------------------------------------------------
Ratio to Bankrupt loans
total loans 0.3 (0.1) 0.4
-------------------------------------------------------------------------------------------------------------
Non-accrual loans 4.4 (1.3) 5.7
-------------------------------------------------------------------------------------------------------------
Past due loans (3 months or more) 0.2 0.0 0.2
-------------------------------------------------------------------------------------------------------------
Restructured loans 4.5 0.5 4.0
-------------------------------------------------------------------------------------------------------------
Total 9.4 (0.8) 10.2
------------------------------------------------------------------------------------------------------------------------
12. Reserve for Possible Loan Losses
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------
Change
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses 2,074,797 98,005 1,976,792
------------------------------------------------------------------------------------------------------------------------
General reserve 1,113,235 238,132 875,103
----------------------------------------------------------------------------------------------------------
Specific reserve 949,996 (136,246) 1,086,242
----------------------------------------------------------------------------------------------------------
Loan loss reserve for specific overseas countries 11,566 (3,879) 15,445
------------------------------------------------------------------------------------------------------------------------
Amount of direct reduction 954,041 (458,173) 1,412,214
------------------------------------------------------------------------------------------------------------------------
Reserve for possible losses on loans sold 17,169 (63,981) 81,150
------------------------------------------------------------------------------------------------------------------------
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------
Change
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses 2,243,542 83,893 2,159,649
------------------------------------------------------------------------------------------------------------------------
General reserve 1,173,927 244,466 929,461
----------------------------------------------------------------------------------------------------------
Specific reserve 1,058,048 (156,685) 1,214,733
----------------------------------------------------------------------------------------------------------
Loan loss reserve for specific overseas countries 11,566 (3,888) 15,454
------------------------------------------------------------------------------------------------------------------------
Amount of direct reduction 1,324,459 (499,815) 1,824,274
------------------------------------------------------------------------------------------------------------------------
Reserve for possible losses on loans sold 20,665 (65,706) 86,371
------------------------------------------------------------------------------------------------------------------------
13. Reserve Ratio to Risk-Monitored Loans
(%)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------
Change
------------------------------------------------------------------------------------------------------------------------
Before direct reduction 49.7 2.7 47.0
------------------------------------------------------------------------------------------------------------------------
After direct reduction 40.1 6.2 33.9
------------------------------------------------------------------------------------------------------------------------
(%)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------
Change
------------------------------------------------------------------------------------------------------------------------
Before direct reduction 50.7 2.4 48.3
------------------------------------------------------------------------------------------------------------------------
After direct reduction 38.9 5.6 33.3
------------------------------------------------------------------------------------------------------------------------
(Note) Reserve ratio to risk-monitored loans = (Reserve for possible loan losses) / (Risk-monitored loans)
14. Problem Assets Based on the Financial Reconstruction Law
(Millions of yen,
%)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Bankrupt and quasi-bankrupt assets 524,889 26,626 498,263
----------------------------------------------------------------------------------------------------------
Doubtful assets 2,129,501 (852,772) 2,982,273
----------------------------------------------------------------------------------------------------------
Substandard loans 2,606,955 167,145 2,439,810
----------------------------------------------------------------------------------------------------------
Total (A) 5,261,345 (659,002) 5,920,347
========================================================================================================================
Normal assets 57,313,355 (3,600,943) 60,914,298
------------------------------------------------------------------------------------------------------------------------
Total (B) 62,574,700 (4,259,945) 66,834,645
------------------------------------------------------------------------------------------------------------------------
Problem asset ratio (A/B) 8.4 (0.5) 8.9
------------------------------------------------------------------------------------------------------------------------
Amount of direct reduction 954,041 (458,173) 1,412,214
(Note) In addition to loans, "Problem Assets Based on the
Financial Reconstruction Law" includes acceptances and
guarantees, suspense payments, and other credit-type
assets.
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Total coverage (C) 4,036,463 (502,763) 4,539,226
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses* (D) 1,490,852 113,549 1,377,303
----------------------------------------------------------------------------------------------------------
Reserve for supporting specific borrowers - - -
----------------------------------------------------------------------------------------------------------
Amount recoverable due to guarantees, collateral
and others (E) 2,545,611 (616,311) 3,161,922
------------------------------------------------------------------------------------------------------------------------
* Sum of general reserve for substandard loans and specific reserve.
(%)
------------------------------------------------------------------------------------------------------------------------
Coverage ratio (C) / (A) 76.7 0.0 76.7
------------------------------------------------------------------------------------------------------------------------
Coverage ratio calculated with total reserve for possible loan
losses
included in the numerator 87.8 1.0 86.8
(%)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio to unsecured assets 54.9 5.0 49.9
(D) / (A - E)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio calculated with total reserve for possible loan
losses
included in the numerator 76.4 4.7 71.7
(Millions of yen,
%)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Bankrupt and quasi-bankrupt assets 655,976 17,740 638,236
----------------------------------------------------------------------------------------------------------
Doubtful assets 2,340,207 (923,213) 3,263,420
----------------------------------------------------------------------------------------------------------
Substandard loans 2,857,590 191,521 2,666,069
----------------------------------------------------------------------------------------------------------
Total (A) 5,853,773 (713,952) 6,567,725
========================================================================================================================
Normal assets 59,330,555 (2,565,869) 61,896,424
------------------------------------------------------------------------------------------------------------------------
Total (B) 65,184,328 (3,279,821) 68,464,149
------------------------------------------------------------------------------------------------------------------------
Problem asset ratio (A/B) 9.0 (0.6) 9.6
------------------------------------------------------------------------------------------------------------------------
(Millions of yen)
------------------------------------------------------------------------------------------------------------------------
Mar. 31, 2003 Mar. 31, 2002
----------------------------------------
Change
------------------------------------------------------------------------------------------------------------------------
Total coverage (C) 4,460,614 (482,481) 4,943,095
------------------------------------------------------------------------------------------------------------------------
Reserve for possible loan losses* (D) 1,569,412 175,092 1,394,320
----------------------------------------------------------------------------------------------------------
Reserve for supporting specific borrowers - - -
----------------------------------------------------------------------------------------------------------
Amount recoverable due to guarantees, collateral
and others (E) 2,891,202 (657,573) 3,548,775
------------------------------------------------------------------------------------------------------------------------
(%)
------------------------------------------------------------------------------------------------------------------------
Coverage ratio (C) / (A) 76.2 0.9 75.3
------------------------------------------------------------------------------------------------------------------------
Coverage ratio calculated with total reserve for possible loan
losses
included in the numerator 87.7 0.8 86.9
(%)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio to unsecured assets 53.0 6.8 46.2
(D) / (A - E)
------------------------------------------------------------------------------------------------------------------------
Reserve ratio calculated with total reserve for possible loan
losses
included in the numerator 75.7 4.2 71.5
(Reference) Progress of Off-Balancing of Problem Assets
1. Problem assets existing prior to and classified during the first half of FY2000
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of
yen)
-------------------------------------------------------------------------------------------------------------------
Sep. 30, Mar. 31, Sep. 30, Mar. 31, Sep. 30, Mar. 31,
------------
2000 2001 2001 2002 2002 2003 Change
-------------------------------------------------------------------------------------------------------------------
Bankrupt and quasi-
bankrupt assets 653.0 475.2 379.5 283.3 240.3 144.5 (95.8)
-------------------------------------------------------------------------------------------------------------------
Doubtful assets 2,594.8 1,361.6 1,055.7 848.3 661.1 255.6 (405.5)
-------------------------------------------------------------------------------------------------------------------
Total 3,247.8 1,836.8 1,435.2 1,131.6 901.4 400.1 (501.3)
-------------------------------------------------------------------------------------------------------------------
(A) (B)
(Note) Balance as of Mar. 31, 2003 includes JPY 151.2 billion, the result of measures connected to off-balancing.
The measures connected to off-balancing are legal reorganizations,
measures associated with legal reorganizations,
corporate splits to good companies and bad companies,
partial direct write-offs of retail exposure to
individuals and small-
and medium-sized enterprizes, and trusts to RCC for
the purpose of revitalization which is scheduled to
be off-balanced before the maturity.
(2) Progress of off-balancing
(Billions of yen)
-----------------------------------------------------------------
Second half (Notes) 1."Disposition by borrowers' liquidation" refers to
of abandonment or
FY2002 write-off of loans involved in bankruptcy
liquidation proceedings (bankruptcy or special
liquidations).
---------------------------------------------------
Disposition by borrowers' liquidation (48.9)
---------------------------------------------------
Reconstructive disposition --- (a) 2. "Reconstructive disposition" refers to abandonment
(11.3) of loans involved in
---------------------------------------------------
Improvement in debtors' performance rehabilitative bankruptcy proceedings (corporate
due to (a) - reorganization, civil
---------------------------------------------------
Loan sales to market rehabilitation, composition and arrangement), loan
(819.6) forgiveness
---------------------------------------------------
Direct write-offs involved in special mediation or other types of
513.9 civil mediation, or loan
---------------------------------------------------
Others forgiveness for restructuring involved in private
(135.4) reorganization.
---------------------------------------------------
Collection/repayment, etc. "Improvement in debtors' performance due to re-
(70.3) 3. constructive
-------------------------------------------
Improvement in debtors' disposition" was categorized as "Others" in FY2000
performance (65.1) financial
---------------------------------------------------
Total (501.3)(B) results published in May 2001.
---------------------------------------------------
2. Problem assets classified during the second half of FY2000
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of yen)
-------------------------------------------------------------------------------------------------------------------
Mar. 31, Sep. 30, Mar. 31, Sep. 30, Mar. 31,
-----------
2001 2001 2002 2002 2003 Change
-------------------------------------------------------------------------------------------------------
Bankrupt and quasi-
bankrupt assets 118.8 142.2 57.7 52.1 29.0 (23.1)
-------------------------------------------------------------------------------------------------------
Doubtful assets 592.6 269.7 145.2 112.7 81.9 (30.8)
-------------------------------------------------------------------------------------------------------
Total 711.4 411.9 202.9 164.8 110.9 (53.9)
-------------------------------------------------------------------------------------------------------
(C) (D)
(Note) Balance as of Mar. 31, 2003 includes JPY 23.4 billion, the result of measures connected to off-balancing.
(2) Progress of off-balancing
(Billions of yen)
-------------------------------------------------------------------------------
Second half of FY2002
-------------------------------------------------------------------------------
Disposition by borrowers' liquidation (1.6)
-----------------------------------------------------------------
Reconstructive disposition --- (a) (5.6)
-----------------------------------------------------------------
Improvement in debtors' performance due to (a) -
-----------------------------------------------------------------
Loan sales to market (75.8)
-----------------------------------------------------------------
Direct write-offs 45.8
-----------------------------------------------------------------
Others (16.7)
-----------------------------------------------------------------
Collection/repayment, etc. (12.9)
---------------------------------------------------------
Improvement in debtors' performance (3.8)
-----------------------------------------------------------------
Total (53.9)(D)
-----------------------------------------------------------------
3. Problem assets classified during the first half of FY2001
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of yen)
-------------------------------------------------------------------------------------------------------
Sep. 30, Mar. 31, Sep. 30, Mar. 31,
-------------
2001 2002 2002 2003 Change
--------------------------------------------------------------------------------------------
Bankrupt and quasi-
bankrupt assets 56.6 76.6 66.0 41.7 (24.3)
--------------------------------------------------------------------------------------------
Doubtful assets 332.5 236.9 163.1 99.5 (63.6)
--------------------------------------------------------------------------------------------
Total 389.1 313.5 229.1 141.2 (87.9)
--------------------------------------------------------------------------------------------
(E) (F)
(Note) Balance as of Mar. 31, 2003 includes JPY 31.9 billion, the result of measures connected to off-balancing.
4. Problem assets classified during the second half of FY2001
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of
yen)
-----------------------------------------------------------------------------------------
Mar. 31, Sep. 30, Mar. 31,
-------------
2002 2002 2003 Change
---------------------------------------------------------------------------------
Bankrupt and quasi-bankrupt assets 80.6 96.4 60.5 (35.9)
---------------------------------------------------------------------------------
Doubtful assets 1,751.9 1,131.5 729.5 (402.0)
---------------------------------------------------------------------------------
Total 1,832.5 1,227.9 790.0 (437.9)
---------------------------------------------------------------------------------
(G) (H)
(Note) Balance as of Mar. 31, 2003 includes JPY 56.1 billion, the result of measures connected to off-balancing.
(2) Progress of off-balancing
(Billions of yen)
----------------------------------------------------------------------------
Second half of
FY2002
--------------------------------------------------------------------
Disposition by borrowers' liquidation (0.5)
--------------------------------------------------------------------
Reconstructive disposition --- (a) (93.8)
--------------------------------------------------------------------
Improvement in debtors' performance due to (a) (42.7)
--------------------------------------------------------------------
Loan sales to market (10.0)
--------------------------------------------------------------------
Direct write-offs (16.5)
--------------------------------------------------------------------
Others (274.4)
--------------------------------------------------------------------
Collection/repayment, etc. (111.1)
-------------------------------------------------------------
Improvement in debtors' performance (163.3)
------------------------------------------------------------------------
Total (437.9)(H)
--------------------------------------------------------------------
5. Problem assets classified during the first half of FY2002
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of yen)
----------------------------------------------------------------------------
Sep. 30, Mar. 31,
----------
2002 2003 Change
--------------------------------------------------------------------
Bankrupt and quasi-bankrupt assets 64.5 204.8 140.3
--------------------------------------------------------------------
Doubtful assets 483.9 153.6 (330.3)
--------------------------------------------------------------------
Total 548.4 358.4 (190.0)
--------------------------------------------------------------------
(I) (J)
(Note) Balance as of Mar. 31, 2003 includes JPY 107.7 billion, the result of measures connected to off-balancing.
(2) Progress of off-balancing (Reference) Progress of off-
balancing
(Second half of FY2002 total)
(Billions of yen) (Billions of yen)
--------------------------------------------------------------------------------------------------------------------
Second half Second half
of FY2002 of FY2002
--------------------------------------------------------------------------------------------------------------------
Disposition by borrowers' liquidation Disposition by borrowers'
- liquidation (52.0)
---------------------------------------------------------- ------------------------------------------------
Reconstructive disposition --- (a) Reconstructive disposition
(7.7) --- (a) (124.2)
---------------------------------------------------------- ------------------------------------------------
Improvement in debtors' performance due to (a) Improvement in debtors'
- performance due to (a) (42.7)
---------------------------------------------------------- ------------------------------------------------
Loan sales to market (4.7) Loan sales to market (924.6)
---------------------------------------------------------- ------------------------------------------------
Direct write-offs (109.5) Direct write-offs 423.2
---------------------------------------------------------- ------------------------------------------------
Others (68.1) Others (550.7)
---------------------------------------------------------- ------------------------------------------------
Collection/repayment, etc. Collection/repayment,
(62.1) etc. (306.0)
--------------------------------------------------- ----------------------------------------
Improvement in debtors' performance Improvement in
(6.0) debtors' performance (244.7)
-------------------------------------------------------------- ------------------------------------------------
Total (190.0)(J) Total (1,271.0)
---------------------------------------------------------- ------------------------------------------------
(B)+(D)+(F)+(H)+(J)
6. Problem assets classified during the second half of FY2002
(1) Term-end balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial
Reconstruction Law
(Billions of yen)
--------------------------------------------------------------------
Mar. 31, 2003
----------------------------------------------------------
Bankrupt and quasi-bankrupt assets 44.4
----------------------------------------------------------
Doubtful assets 809.4
----------------------------------------------------------
Total 853.8 (K)
----------------------------------------------------------
(Note) Balance as of Mar. 31, 2003 includes JPY 40.7 billion, the result of measures connected to off-balancing.
(Reference) Balance of bankrupt and quasi-bankrupt assets, and doubtful assets based on the Financial Reconstruction
Law (Billions of yen)
--------------------------------------------------------------------------------------------------------------------
Sep. 30, Mar. 31, Sep. 30, Mar. 31, Sep. 30,Mar. 31,
-------------------
2000 2001 2001 2002 2002 2003 Change
--------------------------------------------------------------------------------------------------------------------
Bankrupt and quasi-bankrupt assets 653.0 594.0 578.3 498.2 519.3 524.9 5.6
--------------------------------------------------------------------------------------------------------------------
Doubtful assets 2,594.8 1,954.1 1,657.9 2,982.3 2,552.3 2,129.5 (422.8)
--------------------------------------------------------------------------------------------------------------------
Total 3,247.8 2,548.1 2,236.2 3,480.5 3,071.6 2,654.4 (417.2)
--------------------------------------------------------------------------------------------------------------------
(MORE TABLES TO FOLLOW)
Short Name: Sumitomo Mitsui Bnkg
Category Code: FR
Sequence Number: 00005205
Time of Receipt (offset from UTC): 20030528T132625+0100
--30--ZW/uk* KO/uk
CONTACT: Sumitomo Mitsui Bnkg
KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
INDUSTRY KEYWORD: BANKING
SOURCE: Sumitomo Mitsui Bnkg
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