Statement re
June 23 2003 - 11:10AM
UK Regulatory
BW20030623000090 20030623T141003Z UTC
( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re: Sumitomo Mitsui
Financial Group Announces Possibility of not Recovering Claims
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--June 23, 2003--
Sumitomo Mitsui Financial Group, Inc. ("SMFG") announced today that its subsidiary Sumitomo
Mitsui Banking Corporation may not be able to recover its claims on Asia & Pacific Trade Center Co., Ltd., World
Trade Center Building (Osaka), Inc., and Minatomachi Development Center Co., Ltd. because they have applied to the
Osaka Summary Court for special arbitration on June 20, 2003.
1. Outline of the companies
o Asia & Pacific Trade Center Co., Ltd.
(1) Address: 2-1-10, Nankokita, Suminoe-ku, Osaka
(2) Representative: Mr. Masaru Ishibe
(3) Capital stock: JPY 22,111 million
o World Trade Center Building (Osaka), Inc.
(1) Address: 1-14-16, Nankokita, Suminoe-ku, Osaka
(2) Representative: Mr. Eiichi Sakaguchi
(3) Capital stock: JPY 9,400 million
o Minatomachi Development Center Co., Ltd.
(1) Address: 1-4-1, Minatomachi, Naniwa-ku, Osaka
(2) Representative: Mr. Yoshito Ohnishi
(3) Capital stock: JPY 8,000 million
2. Background
On June 20, 2003, the companies applied to the Osaka Summary Court
for special arbitration.
3. Amount of claims on the companies
World Trade Center Building (Osaka), Inc. JPY 18,538 million
Asia & Pacific Trade Center Co., Ltd. JPY 7,980 million
Minatomachi Development Center Co., Ltd. JPY 3,012 million
------------------
Total JPY 29,530 million
4. Forecast of SMFG's financial results
SMFG's financial forecast for the year ending March 31, 2004,
announced on May 26, 2003, is not revised.
Short Name: Sumitomo Mitsui Bnkg.
Category Code: STR
Sequence Number: 00006256
Time of Receipt (offset from UTC): 20030623T150325+0100
--30--ZW/uk*
CONTACT: Sumitomo Mitsui Bnkg
KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
INDUSTRY KEYWORD: BANKING
SOURCE: Sumitomo Mitsui Bnkg
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