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Sumitomo Mitsui Banking President Fukutome

Akihiro Fukutome gives an interview in Tokyo on March 15, 2023, prior to assuming the post of president at Sumitomo Mitsui Banking Corp. on April 1.

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Sumitomo Mitsui Banking President Fukutome

Akihiro Fukutome gives an interview in Tokyo on March 15, 2023, prior to assuming the post of president at Sumitomo Mitsui Banking Corp. on April 1.

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NEC to raise 130 bil. yen from banks

TOKYO, Japan - Nobuhiro Endo, president of NEC Corp., holds a press conference in Tokyo on April 26, 2013. NEC said the same day it will raise a total of 130 billion yen from banks including Sumitomo Mitsui Banking Corp. and the Development Bank of Japan to improve its financial standing.

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Mitsubishi UFJ Trust President Wakabayashi

TOKYO, Japan - Tatsuo Wakabayashi, president of Mitsubishi UFJ Trust and Banking Corp., speaks during an interview with Kyodo News in Tokyo on April 12, 2012.

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Ex-SMBC director Kimoto

TOKYO, Japan - File photo shows Yasuyuki Kimoto, a former senior managing director of Sumitomo Mitsui Banking Corp. Olympus Corp. is making final arrangements to appoint Kimoto as its chairman as part of efforts to turn around the company's management following a scandal in which the Olympus covered up losses, company sources said on Feb. 22, 2012.

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Wakabayashi to take helm of Mitsubishi UFJ Trust

TOKYO, Japan - Mitsubishi UFJ Trust and Banking Corp. Senior Managing Director Tatsuo Wakabayashi (R) attend a press conference in Tokyo on Jan. 31, 2012, as he will succeed Kinya Okauchi (L) as president.

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New president of Mitsubishi UFJ Trust

TOKYO, Japan - Undated file photo shows Tatsuo Wakabayashi, senior managing director of Mitsubishi UFJ Trust and Banking Corp. The trust bank will promote Wakabayashi to president on April 1, 2012, company sources said Jan. 23. The company will decide on the appointments at a board meeting to be held later January, they said.

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Megabank personnel shake-up

TOKYO, Japan - File photo shows Sumitomo Mitsui Banking Corp. Senior Managing Director Takeshi Kunibe (L) and Koichi Miyata, another senior managing director of the major Japanese bank. Kunibe will succeed Masayuki Oku as president of SMBC, while Miyata will replace Teisuke Kitayama as president of Sumitomo Mitsui Financial Group Inc., SMBC's holding company, on April 1, 2011, the two firms said Jan. 28, 2011.

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Kunibe to be appointed Sumitomo Mitsui Banking president

TOKYO, Japan - File photo shows Takeshi Kunibe, senior managing director of Sumitomo Mitsui Banking Corp. The company is considering appointing Kunibe to succeed President Masayuki Oku, company sources said Dec. 30, 2010.

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New Nikko Cordial kicks off operations as Sumitomo Mitsui unit

TOKYO, Japan - Eiji Watanabe (2nd from L), president of Nikko Cordial Securities, Sumitomo Mitsui Banking Corp. President Masayuki Oku (2nd from R) and other officials shake hands in front of the new logo of Nikko Cordial Securities Inc. at its headquarters in the Kabutocho financial district in Tokyo on Oct. 1, 2009. The company began operations the same day as a wholly owned unit of SMBC after the completion of the bank's acquisition of the retail brokerage house from Citigroup Inc. of the United States.

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SMFG to buy Nikko Cordial, bulk of Nikko Citigroup for 545 bil. yen

TOKYO, Japan - Executives of Sumitomo Mitsui Financial Group Inc. and Citigroup Inc. shake hands at a Tokyo hotel on May 1 after announcing they have reached an agreement that SMFG will acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for 545 billion yen. (From L) Nikko Cordial Securities President Eiji Watanabe, Sumitomo Mitsui Banking Corp. President Masayuki Oku, SMFG President Teisuke Kitayama, Citigroup Vice Chairman Stephen Volk, and Nikko Citi Holdings Inc. Chairman and President Douglas Peterson.

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Mitsubishi UFJ Trust to promote Okauchi to president

TOKYO, Japan - Mitsubishi UFJ Trust and Banking Corp. Senior Managing Director Kinya Okauchi (R) and President Haruya Uehara speak at a press conference in Tokyo on May 9. The bank said it will promote Okauchi to president, replacing Uehara.

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HSBC opens 2 private banking offices in Tokyo

TOKYO, Japan - HSBC Holdings plc on Jan. 31 entered the private banking business in Japan by opening two dedicated offices in Tokyo's upscale districts of Akasaka and Hiroo to serve investment needs of wealthy individuals with financial assets of at least 10 million yen. Photo shows Stuart Milne (C), Hongkong and Shanghai Banking Corp.'s country manager for Japan, attending the opening ceremony at Akasaka.

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Banks start selling all types of insurance in Japan

TOKYO, Japan - Sumitomo Mitsui Banking Corp. opens a corner for insurance products at its branch in Tokyo's Shibuya district on Dec. 22 as banks were allowed the same day to commence selling all types of insurance policies.

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SMBC Deputy President Nakano to become Kansai business group head

OSAKA, Japan - Sumitomo Mitsui Banking Corp. Deputy President Kenjiro Nakano (in file photo) is expected to become one of the two co-chairmen of the Kansai Association of Corporate Executives in 2008, sources said on Dec. 8. Nakano, 60, will replace Atsushi Kojima, 72, chairman of Ganko Food Service Co., while the group's other co-chairman, Norihiko Saito, 61, executive vice president of Kansai Electric Power Co., will remain in office, the sources said

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Mitsubishi UFJ Trust eyes entering China's pension market

SHANGHAI, China - Haruya Uehara, president of Mitsubishi UFJ Trust and Banking Corp., speaks during an interview with Kyodo News in Shanghai on Oct. 10. He said the bank wants to enter China's corporate pension fund market down the track in view of its huge potential.

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Sumitomo Mitsui, S. Korea's Kookmin sign tie-up deal

SEOUL, South Korea - Masayuki Oku (L), president of Japan's Sumitomo Mitsui Banking Corp., and Kang Chung Won, president of South Korea's Kookmin Bank, shake hands in Seoul on March 12 after signing a tie-up accord.

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Sumitomo Mitsui to be banned from selling derivatives

TOKYO, Japan - Masayuki Oku (C), chairman of Sumitomo Mitsui Banking Corp., bows in apology during a press conference in Tokyo on April 27 after the Financial Services Agency ordered Sumitomo Mitsui to stop sales of financial derivatives for six months from May 15.

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Planning firm for postal privatization selects president, directors

TOKYO, Japan - Internal Affairs and Communications Minister Heizo Takenaka addresses an inaugural meeting of a company to prepare for Japan's postal privatization in 2007 held at a Tokyo hotel on Jan. 20. The meeting chose former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa as its president. Takenaka said, ''Postal privatization will have the historic meaning of creating Japan's new market economy for the 21st century.''

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Planning firm for postal privatization selects president, directors

TOKYO, Japan - A company to prepare for Japan's postal privatization in 2007 held its inaugural meeting at a Tokyo hotel on Jan. 20. The meeting named former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa as its president.

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SMBC to step up online banking security with new password system

TOKYO, Japan - Sumitomo Mitsui Banking Corp. will step up computer security efforts for customers of its Internet banking by introducing a new system that automatically changes a password, which can be used only once, every minute, the bank said on Jan. 12. The new ''One-time Password'' system, to be introduced next month, will provide applicants from the bank's 6 million online customers with a device (in photo) incorporating software to automatically change six-digit passwords for them.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - Former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa speaks at a press conference at the internal affairs and communications ministry on Nov. 11 after being named to head a holding firm which will be founded in October 2007 for the privatization of Japan's postal system.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - Heizo Takenaka (L), minister of internal affairs and communications, and former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa smile at a question from one of reporters during a press conference on Nov. 11. The government has picked Nishikawa as president of a holding firm to be founded in October 2007 for the privatization of Japan's postal system.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - File photo shows former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa, who was picked by the government on Nov. 11 as president of a holding firm to be founded in October 2007 for the privatization of Japan's postal system. Nishikawa accepted the post in a meeting with Prime Minister Junichiro Koizumi.

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Sumitomo Trust, SBI Holdings to create Net bank

TOKYO, Japan - Sumitomo Trust & Banking Co. President Yutaka Morita (L) and Yoshitaka Kitao, leader of SBI Holdings Inc., a venture capital firm of the Softbank Corp. group, shake hands at a Tokyo hotel on Oct. 25 after announcing their agreement to create an Internet bank.

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(2)Kitayama to succeed Nishikawa as SMFG president

TOKYO, Japan - Sumitomo Mitsui Banking Corp. Deputy President Masayuki Oku (L), who will promoted to the presidency, speaks at a press conference in Tokyo on April 19 flanked by Sumitomo Mitsui Financial Group Inc. Deputy President Teisuke Kitayama (R), who was named to succeed Yoshifumi Nishikawa as president. The top management reshuffle will take effect on June 29, the financial group said.

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Daiei board decides not to seek IRCJ support

TOKYO, Japan - Kunio Takagi, president of struggling retailer Daiei Inc., leaves by car from the head office of Sumitomo Mitsui Banking Corp., one of its three major creditor banks, in Tokyo on Oct. 11. Earlier in the day Daiei decided at an extraordinary board meeting that it would not seek help from the state-backed Industrial Revitalization Corp. of Japan, brushing aside the banks' repeated demand that Daiei ask for IRCJ's help.

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Toyota may consider assisting UFJ, Okuda indicates

TOKYO, Japan - Toyota Motor Corp. Chairman Hiroshi Okuda speaks in an interview with a group of reporters in Tokyo on May 25. He indicated Toyota may consider assisting struggling banking group UFJ Holdings Inc. if requested.

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SMBC adds extra consulting hours for individual customers

OSAKA, Japan - Sumitomo Mitsui Banking Corp. (SMBC) on March 15 began consulting services for individual customers who find it difficult to visit the bank's outlets during regular business hours on weekdays, at six of its main outlets. Photo shows a booth for the new services at Osaka's Umeda branch, where the services will be available from 9 a.m. to 9 p.m. on weekdays and from 10 a.m. to 5 p.m. on weekends and holidays.

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SMBC voices readiness to recapitalize by end of FY 2002

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Banking Corp. (SMBC), speaks in an interview with Kyodo News in Tokyo on Dec. 30. Nishikawa expressed his readiness to expand his bank's capital base by the March 31, 2003 end of the current fiscal year.

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SMBC midyear net profit jumps 61.3%

TOKYO, Japan - Sumitomo Mitsui Banking Corp. (SMBC) President Yoshifumi Nishikawa announces in Tokyo on Nov. 25 that the bank's group net profit in the first half of fiscal 2002 rose 61.3% from a year earlier, improving sharply from a 68.1% drop the previous midyear and a 463.89 billion yen full-year loss posted in fiscal 2001.

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Top bankers call for careful approach in corporate revival

TOKYO, Nov. 15 Kyodo - Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa (standing) testifies to the House of Representatives Financial Affairs Committee in the Diet in Tokyo on Nov. 15. Mizuho Holdings Inc. President Terunobu Maeda sits at Nishikawa's left and UFJ Bank President Masashi Teranishi at Nishikawa's right. At right is Mitsubishi Tokyo Financial Group Inc. President Shigemitsu Miki.

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Mitsubishi Securities launched as 4th biggest brokerage

TOKYO, Japan - Akio Utsumi (L), president of Mitsubishi Trust and Banking Corp., Nobuo Nakazawa (2nd from L), president of Mitsubishi Securities Co., Masamichi Yamada, chairman of Mitsubishi Securities Co. (2nd from R) and Shigemitsu Miki, president of the Bank of Tokyo-Mitsubishi cut a tape at a ceremony to launch Mitsubishi Securities in Tokyo's Marunouchi district on Sept. 2.

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Sumitomo Mitsui to set up holding firm early Dec.

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Banking Corp., announces at a press conference at the head office of the Bank of Japan in Tokyo on July 30 that Sumitomo Mitsui Banking will set up a financial holding company in early December and place itself and three affiliates under the company's umbrella.

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4 Sumitomo Mitsui firms to enhance insurance alliance

TOKYO, Japan - Sumitomo Mitsui Banking Corp. and three insurers with ties to the Sumitomo Mitsui group said Nov. 22, 2001 they will bolster ties to enhance their ability to develop innovative insurance policies and boost marketing cooperation amid the harsh business environment. Seated at a Tokyo news conference are (From L to R) Mitsui Mutual Life Insurance Co. President Hiroshi Nishimura, Sumitomo Life Insurance Co. President Shinichi Yokoyama, Mitsui Sumitomo Insurance Co. Chairman Takeo Iguchi and Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa.

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Sumitomo Mitsui Banking to fall into red

TOKYO, Nov. 21 Kyodo - Sumitomo Mitsui Banking Corp. (SMBC) President Yoshifumi Nishikawa (R) speaks at a media briefing Nov. 21, 2001. He said SMBC will likely plunge into the red for the fiscal year to next March 31 as it will sharply raise the amount of loan-loss charges to accelerate its efforts to dispose of bad loans.

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Gunman attacks cash vehicle in Osaka, snatches 5 mil. yen

OSAKA, Japan - Police examine a cash vehicle (foreground) from which a gunman armed with a revolver snatched 5 million yen near a branch of Sumitomo Mitsui Banking Corp. in Osaka on Oct. 5. The man attacked the cash vehicle shortly after it arrived at the bank branch's rear entrance.

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Sony launches Japan's 2nd Internet-only bank

TOKYO, Japan - Tamotsu Iba (2nd from L), chairman of Sony Bank, Shigeru Ishii (3rd from L) its president, and two unidentified officials join hands at a ceremony in Tokyo's Ginza district June 11 to mark the start of Sony Corp.'s venture into the banking business. Sony Bank, owned 80% by electronic giant Sony, is Japan's second Internet-based bank, following Japan Net Bank set up last October.

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Former Sumitomo Bank President Ibe dies at 92

OSAKA, Japan - File photo shows Kyonosuke Ibe, a former president of Sumitomo Bank, a predecessor to Sumitomo Mitsui Banking Corp., who died April 16 at 92. Ibe was known for his role in arranging the 1976 absorption of financially troubled trading house Ataka Corp. by C. Ito & Co., now Itochu Corp., and bailing out ailing automaker Toyo Kogyo Co., now Mazda Motor Corp., in the 1970s.

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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

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(3)New banks, nonlife insurers kick off operations

TOKYO, Japan - Akeshige Okada (L), chairman of Sumitomo Mitsui Banking Corp., and its chairman Yoshifumi Nishikawa shake hands at a ceremony to mark the launch of the company in Tokyo on April 2. The day's launches of three megabank groups, including Sumitomo Mitsui, usher in a new era of Japan's Big Four megabank groups.

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Sony files application for Internet banking license

TOKYO, Japan - Tamotsu Iba (L), vice chairman of Sony Corp., and Shigeru Ishii, chief of Sony's financial service preparatory division, speak about the company's planned Internet bank at a press conference at the firm's head office in Tokyo on Jan. 31. Sony asked the Financial Services Agency for a preliminary license to establish Sony Bank Corp., with an eye to launching it in June.

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Financial Services Agency OKs Sumitomo-Sakura merger

TOKYO, Japan - Sumitomo Bank President Yoshifumi Nishikawa (R) and Sakura Bank President Akishige Okada meet the press at the Financial Services Agency in Tokyo Dec. 26 after the agency approved a merger of the two lenders. The major Japanese commercial banks plan to combine as the Sumitomo Mitsui Banking Corp. in April.

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Mitsubishi group banks name head of holding firm

TOKYO, Japan - File photos show (from L to R) Shigemitsu Miki, president of the Bank of Tokyo-Mitsubishi, and Akio Utsumi, president of Mitsubishi Trust & Banking Corp. The two banks and Nippon Trust Bank are due to integrate their operations next April by inaugurating a holding company, Mitsubishi Tokyo Financial Group Inc. Miki has been tentatively named president and Utsumi chairman of the holding company.

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Aizawa questioned at Budget Committee session

TOKYO, Japan - Hideyuki Aizawa, who took over Kimitaka Kuze as head of the Financial Reconstruction Commission (FRC), speaks in reply to an opposition question at a House of Representatives Budget Committee session Aug. 2. Kuze resigned after coming under fire for receiving benefits and fees from Mitsubishi Trust & Banking Corp. and condominium developer Daikyo Inc.

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New FRC Chairman Aizawa meets reporters

TOKYO, Japan - New Financial Reconstruction Commission Chairman Hideyuki Aizawa speaks to reporters at the commission office in Tokyo on July 30 after attending his attestation ceremony at the Imperial Palace. Aizawa replaced Kimitaka Kuze, who resigned after coming under heavy fire for receiving benefits from Mitsubishi Trust & Banking Corp. and condominium developer Daikyo Inc.

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FRC Chairman Kuze bows after resignation

TOKYO, Japan - Financial Reconstruction Commission (FRC) Chairman Kimitaka Kuze bows at a press conference in Tokyo on July 30 after resigning in connection with the receipt of benefits and payments from Mitsubishi Trust & Banking Corp. and condominium developer Daikyo Inc. Kuze served as FRC chairman and a state minister since July 4, when Prime Minister Yoshiro Mori launched his new cabinet. Mori immediately appointed former Economic Planning Agency chief Hideyuki Aizawa as Kuze's successor.

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FRC chief Kuze to be sacked over perks

TOKYO, Japan - A file photo of Financial Reconstruction Commission chief Kimitaka Kuze, 71, who is likely to be sacked July 30 in connection with the receipt of benefits and payments from Mitsubishi Trust & Banking Corp. and condominium builder Daikyo. Prime Minister Yoshiro Mori has decided to fire Kuze following a new revelation that Kuze received 100 million yen from the president of Daikyo in 1991 to help him recruit new members of the Liberal Democratic Party. Kuze will be the first member of Mori's cabinet, formed July 4, to step down.

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Ex-EPA chief Aizawa likely to succeed FRC head Kuze

TOKYO, Japan - A file photo of former Economic Planning Agency chief Hideyuki Aizawa, 81, who will likely succeed top financial regulator Kimitaka Kuze. Kuze, chairman of the Financial Reconstruction Commission and a state minister, is likely to be sacked July 30 in connection with the receipt of benefits and payments from Mitsubishi Trust & Banking Corp. and condominium builder Daikyo.

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FRC chief Kuze received gifts from Mitsubishi Trust

TOKYO, Japan - Kimitaka Kuze, chairman of the Financial Reconstruction Commission (FRC), speaks at a news conference in Tokyo on July 28 on media reports that he received gifts from Mitsubishi Trust & Banking Corp. in the form of office and labor costs paid for by the bank. He defended the favors, saying, ''That is a matter of the past. No laws were broken.''