Sumitomo Mitsui Financial Group Announces Possible Irrecoverability or Delayed Collection of Claims on MORIMOTO CORPORATION
01 10월 2003 - 9:28PM
UK Regulatory
Sumitomo Mitsui Bnkg
Sumitomo Mitsui Financial Group, Inc. ('SMFG') announced
today that its subsidiaries, Sumitomo Mitsui Banking Corporation, The Bank of
Kansai, Ltd., SMBC Finance Co., Ltd. and SMBC Leasing Company, Limited may not
be able to recover their claims on MORIMOTO CORPORATION ('the Company'), or the
collection of the claims may be delayed, due to the fact occurring to the
Company as described below.
1. Summary of the Company:
1) Address: 4-11 Yuhigaoka-cho, Tennoji-ku, Osaka
2) Representative: Yoshihide Morimoto
3) Capital: 2,601 million Yen
4) Line of Business: Construction
2. Relevant fact occurring to the Company:
The Company filed a petition for the commencement of civil rehabilitation
proceedings on October 1, 2003 with the Osaka District Court.
3 Amount of claims to the Company:
Sumitomo Mitsui Banking Corporation
Loans 79.9 billion Yen
The Bank of Kansai, Ltd.
Loans 0.7 billion Yen
SMBC Finance Service Co., Ltd.
Loans 2.5 billion Yen
Debt purchased 11.6 billion Yen
SMBC Leasing Company, Limited
Lease assets 0.3 billion Yen
4. Forecast of SMFG's financial results:
The relevant losses will be charged in the amount deemed necessary for the six
months ended September 30, 2003, but the financial forecasts, announced on May
26, 2003, is not revised.
Taking into consideration the progress of the compromise regarding the Tokyo
Metropolitan Government's tax on large-scale banks, if necessary, SMFG will
additionally announce a revision of financial forecasts.