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US: Strong Winter Storm Brings Blizzard Conditions To Sierra Nevada 3

A strong winter storm hit the Sierra Nevada on Friday, March 1, bringing heavy snow and high winds. Blizzard Warnings were issued for the area, including Lake Tahoe and eastern Nevada. The Sierra Avalanche Center warned that the danger of avalanches was high. Yosemite National Park and many ski resorts in the region announced they were closing at least for the day.

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Sumitomo Mitsui group CEO Jun Ota dies

File photo taken on Dec. 14, 2018, shows Sumitomo Mitsui Financial Group Inc.'s Jun Ota (L) and Takeshi Kunibe after being appointed the company's president and chairman, respectively. Ota, who became president and CEO in 2019, died on Nov. 25, 2023, due to pancreatic cancer, aged 65.

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Sumitomo Mitsui group CEO Jun Ota dies

File photo taken in December 2020 shows Sumitomo Mitsui Financial Group Inc. President and CEO Jun Ota. He died on Nov. 25, 2023, due to pancreatic cancer, aged 65.

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New loyalty point program

Sumitomo Mitsui Financial Group Inc. President Jun Ota (L) and Culture Convenience Club Co. CEO Muneaki Masuda pose for a photo in front of the logo of their new loyalty point program during a press conference in Tokyo on June 13, 2023. The two companies said earlier that CCC's T-Point program and Sumitomo Mitsui's V Point program will be merged into one, with the integrated program to be launched under the new V-Point program possibly in the spring of 2024.

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New loyalty point program

Sumitomo Mitsui Financial Group Inc. President Jun Ota (L) and Culture Convenience Club Co. CEO Muneaki Masuda shake hands in front of the logo of their new loyalty point program during a press conference in Tokyo on June 13, 2023. The two companies said earlier that CCC's T-Point program and Sumitomo Mitsui's V Point program will be merged into one, with the integrated program to be launched under the new V-Point program possibly in the spring of 2024.

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Sumitomo group to buy 80 small Boeing jets

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Koichi Miyata (L) and Raymond Conner, president and chief executive officer of Boeing Commercial Airplanes, shake hands at a press conference in Tokyo on Nov. 10, 2014, where SMFG and Sumitomo Corp. announced a decision to purchase 80 small jetliners from Boeing.

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Sumitomo Mitsui Financial announces earnings

TOKYO, Japan - Koichi Miyata, president of Sumitomo Mitsui Financial Group Inc., announces the group's earnings for financial 2012 at the Bank of Japan's head office in Tokyo on May 15, 2013.

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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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SMFG's Miyata to be promoted to president

TOKYO, Japan - File photo shows Koichi Miyata, senior managing director of Sumitomo Mitsui Financial Group Inc. The bank holding company is considering appointing Miyata to succeed President Teisuke Kitayama, who is likely to retire, company sources said Dec. 30, 2010.

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SMFG lists on New York Stock Exchange

NEW YORK, United States - Teisuke Kitayama (C in front), president of Sumitomo Mitsui Financial Group Inc., rings the opening bell at the New York Stock Exchange on Nov. 1, 2010. SMFG listed its American Depository Receipts on the NYSE on the same day, becoming the last of Japan's three biggest banking groups to trade on the NYSE, following Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc.

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SMFG lists on New York Stock Exchange

NEW YORK, United States - Teisuke Kitayama, president of Sumitomo Mitsui Financial Group Inc., speaks at a press conference at the New York Stock Exchange on Nov. 1, 2010, the day SMFG listed its American Depository Receipts on the NYSE. Kitayama said the listing would be the important first step for the company to compete in the global market.

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

TOKYO, Japan - Teisuke Kitayama (L), president of Sumitomo Mitsui Financial Group Inc., along with Citigroup Vice Chairman Stephen Volk (R), announces at a Tokyo hotel on May 1 that SMFG has reached an agreement with Citigroup to acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for 545 billion yen.

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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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SMFG's net profit down over 50% in 1st half of FY 2008

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama (L) speaks during a news conference in Tokyo on Nov. 14. He said its group net profit fell 51.2 percent to 83.28 billion yen in the six months through September from a year earlier as the fallout from the global financial turmoil weighed on its balance sheet.

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Sumitomo Mitsui's 1st-half net profit down 30%

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama on Nov. 19 attends a news conference in Tokyo where the company said its consolidated net profit for the first half of fiscal 2007 dropped 30.0 percent from a year before to 170.59 billion yen. SMFG blamed the lowered earnings on losses incurred from its subprime-related securities products and slumping stocks of affiliated consumer loan companies.

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Daiei to sell 32.15% stake in OMC Card to SMFG for 74. bil. yen

TOKYO, Japan - Masayuki Nishi (L), chairman of Sumitomo Mitsui Financial Group, Tooru Nishim (C), president of Daiei Inc., and Hiromichi Funahashi, chairman of OMC Card Inc., join hands at a press conference in Tokyo on July 27 after announcing Daiei will sell 32.15 percent of voting rights in its credit-card subsidiary OMC to Sumitomo Mitsui for 74.8 billion yen.

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Sumitomo Mitsui's 1st-half group net profit dives 37.9%

TOKYO, Japan - Teisuke Kitayama, president of Sumitomo Mitsui Financial Group Inc., speaks about the company's earnings report for the first-half of fiscal 2006 at the Bank of Japan's head office in Tokyo on Nov. 22.

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SMFG sinks into red

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. Vice President Teisuke Kitayama speaks at a press conference in Tokyo on May 24. Kitayama, who is to assume the presidency in June, said that hefty bad-loan disposal costs sent his group into the red in the year to March 31.

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Mizuho Financial Group's Maeda becomes bankers' association chairman

TOKYO, Japan - Mizuho Financial Group Inc. President Terunobu Maeda speaks at a press conference in Tokyo on April 19 on assuming the post of chairman of the Japanese Bankers Association, succeeding Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc. Maeda said, ''My two major goals are to activate financial markets and to raise confidence in financial institutions.''

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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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Kitayama to succeed Nishikawa as SMFG president

TOKYO, Japan - File photo shows Sumitomo Mitsui Financial Group Inc. Deputy President Teisuke Kitayama who was named April 19 to succeed Yoshifumi Nishikawa as president. The top management reshuffle will take effect on June 29, the financial group said.

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(2)Sumitomo Mitsui, Daiwa Securities to launch merger talks

TOKYO, Japan - Photo taken Feb. 10 shows the head office of Daiwa Securities Group Inc. in Tokyo. Sumitomo Mitsui Financial Group Inc. and Daiwa Securities Group, the holding companies of Japan's third-largest banking group and second-largest brokerage group, will soon launch merger talks to become a financial conglomerate, sources close to the talks said the same day.

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(1)Sumitomo Mitsui, Daiwa Securities to launch merger talks

TOKYO, Japan - Photo taken Feb. 10 shows the head office of Sumitomo Mitsui Financial Group Inc. in Tokyo. SMFG and Daiwa Securities Group Inc., the holding companies of Japan's third-largest banking group and second-largest brokerage group, will soon launch merger talks to become a financial conglomerate, sources close to the talks said the same day.

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Sumitomo Mitsui's Nishikawa likely to quit

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa (file photo) is considering resigning, financial sources said Feb. 4. Earlier in the day, two Japanese dailies, the Yomiuri Shimbun and the Mainichi Shimbun, reported that SMFG may book a consolidated net loss for the current fiscal year because of increased loan-loss reserves.

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Sumitomo Mitsui to continue pushing for merger with UFJ

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa speaks in an interview with Kyodo News in Tokyo on Aug. 25. Nishikawa said the banking group will continue to press ahead with a proposed merger with smaller ailing rival UFJ Holdings Inc.

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Sumitomo Mitsui boosts group net profit

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa tells a news conference in Tokyo on Nov. 25 its group net profit in the six months to Sept. 30 surged 160.2% over a year earlier to 143.49 billion yen despite a 0.1% fall in operating revenues to 1,760.84 billion yen.

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Sumitomo Mitsui, Goldman, Daiwa to form corporate revival firm

TOKYO, Japan - (From L to R) Masanori Mochida, president of Goldman Sachs Group Inc., Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc., and Masayasu Oi, president of Daiwa Securities SMBC Principal Investments Co., shake hands at a news conference in Tokyo on Oct. 8. Sumitomo Mitsui will set up a joint company with Goldman and Daiwa in November to help revive troubled companies.

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Sumitomo Mitsui cuts earnings forecast

TOKYO, April 4 Kyodo - Sumitomo Mitsui Financial Group Inc. Managing Director Masayuki Oku tells a news conference April 4 that the group has cut its earnings forecast for fiscal 2002 as a result of much larger losses connected to securities holdings and bad-loan assets.

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Sumitomo Mitsui to sell preferred shares to Goldman

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc. speaks at a press conference at the Bank of Japan's head office in Tokyo on Jan. 15 about a plan to sell preferred shares to U.S. investment bank Goldman Sachs Group Inc.

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Top bankers criticize Takenaka's bank policy

TOKYO, Japan - The heads of Japan's four major banking groups criticize Financial Services Minister Heizo Takenaka's bank policy in Diet testimony Dec. 3. The House of Councillors Financial Affairs Committee summoned as unsworn witnesses (from R to L) Terunobu Maeda, president of Mizuho Holdings Inc., Shigemitsu Miki, president of Mitsubishi Tokyo Financial Group Inc., Masashi Teranishi, president of UFJ Bank, and Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc.

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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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(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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Sumitomo Mitsui to continue pushing for merger with UFJ

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa speaks in an interview with Kyodo News in Tokyo on Aug. 25. Nishikawa said the banking group will continue to press ahead with a proposed merger with smaller ailing rival UFJ Holdings Inc. (Kyodo)

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Sumitomo Mitsui's Nishikawa likely to quit

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa (file photo) is considering resigning, financial sources said Feb. 4. Earlier in the day, two Japanese dailies, the Yomiuri Shimbun and the Mainichi Shimbun, reported that SMFG may book a consolidated net loss for the current fiscal year because of increased loan-loss reserves. (Kyodo)

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(1)Sumitomo Mitsui, Daiwa Securities to launch merger talks

TOKYO, Japan - Photo taken Feb. 10 shows the head office of Sumitomo Mitsui Financial Group Inc. in Tokyo. SMFG and Daiwa Securities Group Inc., the holding companies of Japan's third-largest banking group and second-largest brokerage group, will soon launch merger talks to become a financial conglomerate, sources close to the talks said the same day. (Kyodo)

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(2)Sumitomo Mitsui, Daiwa Securities to launch merger talks

TOKYO, Japan - Photo taken Feb. 10 shows the head office of Daiwa Securities Group Inc. in Tokyo. Sumitomo Mitsui Financial Group Inc. and Daiwa Securities Group, the holding companies of Japan's third-largest banking group and second-largest brokerage group, will soon launch merger talks to become a financial conglomerate, sources close to the talks said the same day. (Kyodo)

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Kitayama to succeed Nishikawa as SMFG president

TOKYO, Japan - File photo shows Sumitomo Mitsui Financial Group Inc. Deputy President Teisuke Kitayama who was named April 19 to succeed Yoshifumi Nishikawa as president. The top management reshuffle will take effect on June 29, the financial group said. (Kyodo)

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Mizuho Financial Group's Maeda becomes bankers' association chai

TOKYO, Japan - Mizuho Financial Group Inc. President Terunobu Maeda speaks at a press conference in Tokyo on April 19 on assuming the post of chairman of the Japanese Bankers Association, succeeding Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc. Maeda said, ''My two major goals are to activate financial markets and to raise confidence in financial institutions.'' (Kyodo)

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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. (Kyodo)

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SMFG sinks into red

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. Vice President Teisuke Kitayama speaks at a press conference in Tokyo on May 24. Kitayama, who is to assume the presidency in June, said that hefty bad-loan disposal costs sent his group into the red in the year to March 31. (Kyodo)

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Sumitomo Mitsui's 1st-half group net profit dives 37.9%

TOKYO, Japan - Teisuke Kitayama, president of Sumitomo Mitsui Financial Group Inc., speaks about the company's earnings report for the first-half of fiscal 2006 at the Bank of Japan's head office in Tokyo on Nov. 22. (Kyodo)

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Daiei to sell 32.15% stake in OMC Card to SMFG for 74. bil. yen

TOKYO, Japan - Masayuki Nishi (L), chairman of Sumitomo Mitsui Financial Group, Tooru Nishim (C), president of Daiei Inc., and Hiromichi Funahashi, chairman of OMC Card Inc., join hands at a press conference in Tokyo on July 27 after announcing Daiei will sell 32.15 percent of voting rights in its credit-card subsidiary OMC to Sumitomo Mitsui for 74.8 billion yen. (Kyodo)

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Sumitomo Mitsui's 1st-half net profit down 30%

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama on Nov. 19 attends a news conference in Tokyo where the company said its consolidated net profit for the first half of fiscal 2007 dropped 30.0 percent from a year before to 170.59 billion yen. SMFG blamed the lowered earnings on losses incurred from its subprime-related securities products and slumping stocks of affiliated consumer loan companies. (Kyodo)

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SMFG's net profit down over 50% in 1st half of FY 2008

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Teisuke Kitayama (L) speaks during a news conference in Tokyo on Nov. 14. He said its group net profit fell 51.2 percent to 83.28 billion yen in the six months through September from a year earlier as the fallout from the global financial turmoil weighed on its balance sheet. (Kyodo)

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

TOKYO, Japan - Teisuke Kitayama (L), president of Sumitomo Mitsui Financial Group Inc., along with Citigroup Vice Chairman Stephen Volk (R), announces at a Tokyo hotel on May 1 that SMFG has reached an agreement with Citigroup to acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for 545 billion yen. (Kyodo)

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

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. (Kyodo)

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Sumitomo Mitsui, Goldman, Daiwa to form corporate revival firm

TOKYO, Japan - (From L to R) Masanori Mochida, president of Goldman Sachs Group Inc., Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc., and Masayasu Oi, president of Daiwa Securities SMBC Principal Investments Co., shake hands at a news conference in Tokyo on Oct. 8. Sumitomo Mitsui will set up a joint company with Goldman and Daiwa in November to help revive troubled companies. (Kyodo)

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Mizuho, Mitsui Sumitomo joins list of 2020 Tokyo Olympics "gold" sponsors

Yasuhiro Sato (L), president of Mizuho Financial Group Inc., and Koichi Miyata (R), president of Sumitomo Mitsui Financial Group Inc., pose with Yoshiro Mori, president of the organizing committee for the 2020 Tokyo Olympics and Paralympics, in Tokyo on April 14, 2015, after signing up their companies as official "Gold Partners" sponsoring the Games, the highest rank in the three tiers of local sponsorship. (Kyodo) ==Kyodo

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Sumitomo group to buy 80 small Boeing jets

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Koichi Miyata (L) and Raymond Conner, president and chief executive officer of Boeing Commercial Airplanes, shake hands at a press conference in Tokyo on Nov. 10, 2014, where SMFG and Sumitomo Corp. announced a decision to purchase 80 small jetliners from Boeing. (Kyodo)

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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. (Kyodo)