[Sumitomo Mitsui Financial Group, Inc.]Final Agreement concerning Strategic Joint Business in Leasing and Auto Leasing Businesses and Merger Agreement of the Two Businesses(1/1)
July 30, 2007
To whom it may concern:
Sumitomo Corporation
(Code No. 8053; Tokyo
Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange, 1st section,
and Fukuoka Stock Exchange)
Sumisho Lease Co., Ltd.
Sumisho Auto Leasing
Corporation
Sumitomo Mitsui Financial
Group, Inc.
(Code No. 8316; Tokyo
Stock Exchange, Osaka Securities Exchange and Nagoya Stock Exchange, 1st section)
SMBC Leasing Company,
Limited
SMBC Auto Leasing
Company, Limited
Final Agreement concerning Strategic
Joint Business in Leasing and Auto Leasing Businesses and Merger Agreement of
the Two Businesses
● Sumitomo Corporation (hereinafter referred to as “SC”; Mr. Susumu Kato, President and
CEO);
● Sumisho Lease
● Sumisho Auto Leasing Corporation (hereinafter referred to as “Sumisho Auto Lease”; Mr. Hironori Kato,
President);
● Sumitomo Mitsui Financial Group, Inc. (hereinafter referred to as “SMFG”; Mr. Teisuke Kitayama, President);
● SMBC Leasing Company, Limited (hereinafter referred to as “SMBC Leasing”; Mr. Koji Ishida,
President); and
● SMBC Auto Leasing Company, Limited (hereinafter referred to as “SMBC Auto Leasing”; Mr. Sumio Saito,
President),
announced that they have reached a final
agreement today concerning strategic joint business in leasing and auto leasing
businesses, the merger of SMBC Leasing and Sumisho Lease, and the merger of
Sumisho Auto Lease and SMBC Auto Leasing, as follows:
1. Strategic Joint Business in Leasing and
Auto Leasing Businesses
As set forth in the “Strategic Joint
Business in Leasing and Auto Leasing Businesses between Sumitomo Corporation
Group and Sumitomo Mitsui Financial Group” dated October 13, 2006, the Sumitomo
Corporation Group and the Sumitomo Mitsui Financial Group reached a basic
agreement to position their leasing and auto leasing businesses as strategic
joint business and to jointly aim to establish the best leasing and auto
leasing businesses in Japan through the merger of SMBC Leasing and Sumisho
Lease, and the merger of Sumisho Auto Lease and SMBC Auto Leasing. Based on the
basic agreement, both groups established the “Merger Preparatory Committee” for
the leasing and auto leasing businesses respectively, and have discussed both
the process towards the merger and the framework of the strategic joint
business. Today, both groups concluded the “Basic Agreement Concerning the
Joint Business” and the “Merger Agreement” with respect to the two businesses.
The new merged companies will make it a basic
policy to provide their customers with value-added products and services by
pursuing best practices (such as thorough fairness, transparency, and a merit
system), and aim for the early realization thereof. In addition, SC and SMFG
will fully cooperate as parent companies, and will render assistance to the
fullest extent for the development of both businesses.
2. Summary of the Merger
(1) Merger
of the Leasing Companies (Merger of SMBC Leasing and Sumisho Lease)
(i) Objectives
of the Merger
・ To
achieve the highest volume of leases being handled in Japan through
diversification of the types of leases being handled, etc., based on the
high-quality customer bases of both the Sumitomo Mitsui Financial Group and the
Sumitomo Corporation Group.
・ To
create a high quality leasing company that can respond appropriately to market
needs which are becoming increasingly sophisticated, by combining and blending
the know-how related to finance of SMBC Leasing as a subsidiary of a bank and the
know-how related to products and business distribution of Sumisho Lease as a
trading firm’s subsidiary, thereby promoting diversification and
differentiation of products and providing more value-added products going
beyond traditional approaches.
(ii) Outline
of the Merger
a. Merger Schedule
Signing of the Merger
Agreement:
|
July 30, 2007 (today)
|
General shareholders meetings to
approve the Merger Agreement:
|
August 13, 2007
(written resolution)
|
Expected date of the merger
(effective date):
|
October 1, 2007
|
The schedule above
may be changed upon discussion among the parties if there are unavoidable circumstances
with respect to procedural matters.
b. Merger Structure
The
merger procedure will be a merger by absorption in which Sumisho Lease will be
a surviving company, and SMBC Leasing will be dissolved.
c. Merger Ratio
Company Name
|
Sumisho Lease
|
SMBC Leasing
|
Merger Ratio (common
stock)
|
1
|
1.4859(*)
|
Merger Ratio
(classified stock)
|
1
|
5.7050(*)
|
(*) Rounded down to the nearest ten-thousandth.
|
|
|
(a) Allotment Ratio of Stocks
52,422,762 shares of common
stock of Sumisho Lease will be issued and allocated to SMFG for 31,375,000
shares (30,000,000 shares of common stock and 1,375,000 shares of classified
stock) of SMBC Leasing (44,578,289 shares of Sumisho Lease’s common stock for
SMBC Leasing’s common stock and 7,844,473 shares of Sumisho Lease’s common
stock for SMBC Leasing’s classified stock).
(b) Basis for Calculation of the Merger
Ratio
In order to ensure the fairness
and reasonableness of the merger ratio (hereinafter referred to as the “Merger
Ratio”), SMBC Leasing and Sumisho Lease conducted negotiation and discussion
based on the analysis of the Merger Ratio provided by each financial advisor,
Daiwa Securities SMBC Co. Ltd., appointed by SMBC Leasing, and Nomura Securities
Co., Ltd., appointed by Sumisho Lease, respectively.
Provided, however, that in cases
where any material changes occur to the terms and conditions on the calculation
of the Merger Ratio, the Merger Ratio may be changed after discussion between
SMBC Leasing and Sumisho Lease.
(c) Results, Method and Basis of
Calculation by Third Party Institutions
Daiwa Securities SMBC Co. Ltd.
evaluated the stock value of SMBC Leasing and Sumisho Lease and calculated the
Merger Ratio following a comprehensive consideration of the results.
Nomura Securities Co., Ltd.
evaluated the stock value of SMBC Leasing and Sumisho Lease and calculated the
Merger Ratio following a comprehensive consideration of the results.
(d) Number of New Shares, Etc. to be
Issued as a Result of the Merger
Sumisho Lease will issue
52,422,762 shares of its common stock exclusive of treasury stock held
immediately preceding the effective date of this merger.
d. Summary of Accounting Treatment
Since the merger of
the leasing business companies falls under the category of an acquisition
(reverse acquisition) under “Accounting Standard for Business Combinations”
(“Opinion Concerning Establishment of Accounting Standard for Business
Combinations” (Business Accounting Council; October 31, 2003) and the “Guidance
on Accounting Standard for Business Combinations and Accounting Standard for
Business Divestitures” (Accounting Standards Board of Japan Guidance No. 10, as
finally amended on December 22, 2006), SMFG will proceed with this merger by applying
the purchase method. The amount and the amortization period, etc. of the
goodwill in the consolidated financial statements of SMFG accompanying this
merger have not been determined at present.
The merged leasing
company is expected to become a consolidated subsidiary of SMFG and an
equity-method affiliate company of SC. (Currently, SMBC Leasing is a
consolidated subsidiary of SMFG and Sumisho Lease is a consolidated subsidiary
of SC.)
e. Shareholder Composition of the Merged
Company
SMFG: 55% (a consolidated subsidiary of
SMFG)
SC: 45%
(an equity-method affiliate company of SC)
f. Trade Name of the Merged Company
Sumitomo Mitsui
Finance and Leasing Company, Limited
g.
Directors of the Merged Company
·
Representative Directors
|
|
Chairman of the Board
(Co-CEO):
|
Mr. Tadahiko Mizukami (current Representative Director
and Executive Vice President of Sumisho Lease)
|
President (Co-CEO):
|
Mr. Koji Ishida
(current Representative Director and President of SMBC Leasing)
|
Deputy President:
|
Mr. Taizo Ohi (current
Representative Director and Deputy President of SMBC Leasing)
|
Senior Managing
Director:
|
Mr. Minoru Tanaka
(current Representative Director and Senior Managing Executive Officer of
Sumisho Lease)
|
·
Directors
|
|
Senior Managing
Director:
|
Mr. Norihisa Kodera
(current Representative Director and Senior Managing Executive Officer of
Sumisho Lease)
|
Senior Managing
Director:
|
Mr. Yasufumi Kitamoto
(current Representative Director and Senior Managing Director of SMBC
Leasing)
|
Senior Managing
Director:
|
Mr. Hiromichi Miyauchi
(current Representative Director and Senior Managing Director of SMBC
Leasing)
|
Senior Managing
Director:
|
Mr. Takaaki Okamoto
(current Representative Director and Senior Managing Director of SMBC
Leasing)
|
Senior Managing
Director:
|
Mr. Takashi Okamoto
(current Director and Managing Executive Officer of Sumisho Lease)
|
Outside Director:
|
Mr. Takeshi Kunibe
(current Director of SMFG and Managing Director of Sumitomo Mitsui Banking
Corporation)
|
Outside Director:
|
Mr. Noriaki Shimazaki
(current Representative Director and Executive Vice President of SC)
|
Mr. Hideki Yamane, current
Representative Director and President of Sumisho Lease, will resign the
position on September 30, 2007 and will be designated as Special Advisor of the
merged company on October 1, 2007.
h. Corporate Auditors of the Merged
Company
Standing Outside Corporate Auditor:
|
Mr. Toyosaburou Hirano
(current Standing Corporate Auditor of SMBC Leasing)
|
Standing Corporate Auditor:
|
Mr. Heihachi Ogawa
(current Standing Corporate Auditor of SMBC Leasing)
|
Standing Corporate Auditor:
|
Mr. Yasuo Nushihara
(current Standing Corporate
Auditor of Sumisho Lease)
|
Corporate Auditor:
|
Mr. Shinichi Hori
(current Corporate Auditor of Sumisho Lease)
|
Outside Corporate Auditor:
|
Mr. Yukihiko Onishi
(current General Manager of Subsidiaries & Affiliates Dept. of SMFG)
|
Outside Corporate Auditor:
|
Mr. Masahiro Ishikawa
(former Advisor/Corporate Auditor of SC)
|
(2) Merger
of the Auto Leasing Companies (Merger of Sumisho Auto Lease and SMBC Auto
Leasing)
(i) Objectives
of the Merger
・ To
win a place in the auto leasing industry that is becoming increasingly
competitive and to establish a structure aiming to be ranked number one with
respect to the market share based upon the high-quality customer bases of both
the Sumitomo Corporation Group and the Sumitomo Mitsui Financial Group, by
combining high-value-added services based on Sumisho Auto Lease’s value chain
and business network of SMBC Auto Leasing.
・ To
aim to achieve better customer satisfaction by combining and blending the
know-how related to products and business distribution of Sumisho Auto Lease as
a trading firm’s subsidiary and the know-how related to finance of SMBC Auto
Leasing as a subsidiary of a bank, thereby pursuing various services.
(ii) Outline
of the Merger
a. Merger Schedule
Signing of the Merger
Agreement:
|
July 30, 2007 (today)
|
General shareholders
meetings to approve the Merger Agreement:
Sumisho Auto Lease
SMBC Auto Leasing
|
August 15, 2007
August 15, 2007
(written resolution)
|
Expected date of the
merger (effective date):
|
October 1, 2007
|
SMFG plans to make
SMBC Auto Leasing its wholly-owned subsidiary by acquiring all the shares of
SMBC Auto Leasing from SMBC Leasing, prior to the merger on October 1, 2007.
The schedule above
may be changed upon discussion among the parties if there are unavoidable circumstances
with respect to procedural matters.
b. Merger Structure
The
merger procedure will be a merger by absorption in which Sumisho Auto Lease
will be a surviving company, and SMBC Auto Leasing will be dissolved.
c. Merger Ratio
Company Name
|
Sumisho Auto Lease
|
SMBC Auto Leasing
|
Merger Ratio
|
1
|
717.8632
|
(a) Allotment Ratio of Stocks
10,767,948 shares of common
stock of Sumisho Auto Lease will be issued and allocated to SMFG for 15,000
shares of common stock of SMBC Auto Leasing.
(b) Basis for Calculation of the Merger
Ratio
In order to ensure the fairness
and reasonableness of the merger ratio (hereinafter referred to as the “Merger
Ratio”), Sumisho Auto Lease and SMBC Auto Leasing conducted negotiation and
discussion based on the analysis of the Merger Ratio provided by each financial
advisor, Nomura Securities Co., Ltd., appointed by Sumisho Auto Lease, and
Daiwa Securities SMBC Co. Ltd., appointed by SMBC Auto Leasing, respectively.
Provided, however, that in cases
where any material changes occur to the terms and conditions on the calculation
of the Merger Ratio, the Merger Ratio may be changed after discussion between
Sumisho Auto Lease and SMBC Auto Leasing.
(c) Results, Method and Basis of
Calculation by Third Party Institutions
Nomura Securities Co., Ltd.
evaluated the stock value of Sumisho Auto Lease and SMBC Auto Leasing, and
calculated the Merger Ratio following a comprehensive consideration of the
results.
Daiwa Securities SMBC Co. Ltd.
evaluated the stock value of SMBC Auto Leasing and Sumisho Auto Lease, and
calculated the Merger Ratio following a comprehensive consideration of the
results.
(d) Number of New Shares, Etc. to be
Issued as a Result of the Merger
Sumisho Auto Lease will issue
10,767,948 shares of its common stock exclusive of its treasury stock held
immediately preceding the effective date of this merger.
d. Summary of Accounting Treatment
SC are preparing its
consolidated financial statements on the basis of U.S. GAAP and applying SFAS
No. 141, “Business Combinations” and SFAS No. 142, “Goodwill and Other
Intangible Assets” in businesses combinations. SFAS No. 141 requires that all
business combinations are accounted for by the purchase method. Under SFAS No.
142, goodwill is not amortized and instead requires annual impairment testing
thereof at least annually. Intangible assets with a definite useful life are
amortized over their respective estimated useful lives and reviewed for impairment
in accordance with SFAS No. 144. Intangible assets determined to have an
indefinite useful life are not amortized, but instead are tested for impairment
based on fair value at least annually until the remaining life would be
determined to no longer be indefinite. The amount of the goodwill, etc. in the
consolidated financial statements of SC accompanying this merger has not been
determined at present.
The merged auto
leasing company is expected to become a consolidated subsidiary of SC and an
equity-method affiliate company of SMFG. (Currently, Sumisho Auto Lease is a
consolidated subsidiary of SC and SMBC Auto Leasing is a consolidated
subsidiary of SMFG.)
e. Shareholder Composition of the Merged
Company
SC: 60%
(a consolidated subsidiary of SC)
SMFG: 40% (an equity-method affiliate
company of SMFG)
f. Trade Name
of the Merged Company
Sumitomo Mitsui Auto
Service Company, Limited
g.
Directors of the Merged Company
·
Representative Directors
|
|
Chairman of the Board (Co-CEO):
|
Mr. Katsuyuki Shibabuki
(current Representative Director and Chairman of the Board of SMBC Auto
Leasing)
|
President (Co-CEO):
|
Mr. Hironori Kato (current Representative Director
and President & CEO of Sumisho Auto Lease)
|
Executive Vice President:
|
Mr. Katsuichi Kobayashi (current Representative
Director and Executive Vice President of Sumisho Auto Lease)
|
Executive Vice President:
|
Mr. Sumio Saito (current Representative Director
and President of SMBC Auto Leasing)
|
·
Directors
|
|
Senior Managing Executive Officer:
|
Mr. Kimio Amemiya (current Representative Director
and Senior Managing Director of SMBC Auto Leasing)
|
Senior Managing Executive Officer:
|
Mr. Fumiaki Iwase (current Representative Director
and Senior Managing Executive Officer of Sumisho Auto Lease)
|
Senior Managing Executive Officer:
|
Mr. Hajime Amaki (current Representative Director
and Senior Managing Director of SMBC Auto Leasing)
|
Senior Managing Executive Officer:
|
Mr. ShiroYamamoto (current Director and Senior
Managing Executive Officer of Sumisho Auto Leasing)
|
Senior Managing Executive Officer:
|
Mr. Akira Tanabe (current Director and Senior
Managing Executive Officer of Sumisho Auto Leasing)
|
Outside Director:
|
Mr. Makoto Sato (current Managing Executive Officer
of SC)
|
Outside Director:
|
Mr. Takeshi Kunibe (current Director of SMFG and
Managing Director of Sumitomo Mitsui Banking Corporation)
|
h. Corporate
Auditors of the Merged Company
Standing Corporate Auditor:
|
Mr. Toru Ozaki (current Corporate Auditor of
Sumisho Auto Lease)
|
Standing Corporate Auditor:
|
Mr. Toshiyuki Ishida (current Managing Director of
SMBC Auto Leasing)
|
Outside Corporate Auditor:
|
Mr. Masahiro Ishikawa (former Advisor/Corporate
Auditor of SC)
|
Outside Corporate Auditor:
|
Mr. Seiji Ogawa (current General Manager of
Strategy Planning & Domestic Market Department of SC)
|
Outside Corporate Auditor:
|
Mr. Yukihiko Onishi (current General Manager of
Subsidiaries & Affiliates Dept. of SMFG)
|
The procedures described above will be conducted
subject to the approvals of the relevant authorities, etc. under applicable
laws and regulations.
3. Business Forecast
(1) SC:
The
business forecast for the fiscal year ended March 2008 is not revised as a
result of this transaction.
(2) SMFG:
The
business forecast for the fiscal year ended March 2008 is not revised as a
result of this transaction.
4. Corporate
Profile of the Four Companies Relating to the Merger (Fiscal Year Ended March
2007)
(1) Leasing
Business
(i) |
SMBC Leasing Company,
Limited
|
Sumisho Lease Co.,
Ltd.
|
|
(ii) |
General leasing
business
|
General leasing
business
|
|
(iii) |
September 2, 1968
|
January 12, 1948
|
|
(iv) |
9-4, Nishi-Shinbashi
3-chome, Minato-ku,
|
5-33, Kitahama
4-chome, Chuo-ku,
|
|
(v) |
Koji Ishida, President
|
Hideki Yamane, President
|
|
(vi) |
82,600 million Yen
(Non-consolidated)
|
14,760 million Yen
(Consolidated)
|
|
(vii) |
Common Stock
30,000 thousand shares
Preferred Stock
1,375 thousand shares
|
Common Stock
43,396 thousand shares
|
|
(viii) |
195,048
million Yen
(Non-consolidated)
|
144,903
million Yen
(Consolidated)
|
|
(ix) |
1,817,510 million Yen
(Non-consolidated)
|
1,492,420 million Yen
(Consolidated)
|
|
(x) |
March 31
|
March 31
|
|
(xi) |
916
(Non-consolidated)
|
937
(Consolidated)
|
|
(xii) |
Foreign and domestic
private companies, etc.
|
Foreign and domestic
private companies, etc.
|
|
(xiii) |
SMFG 100%
|
SC 100%
|
|
(xiv) |
Sumitomo Mitsui
Banking Corporation
|
The Sumitomo Trust and
Banking Co., Ltd.
Sumitomo Mitsui
Banking Corporation
The Bank of
Tokyo-Mitsubishi UFJ, Ltd.
|
|
(xv) |
Capital
Ties
|
There are
no capital ties between the parties of the merger.
|
|
Personnel
Relationships
|
There are
no personnel relationships between the parties of the merger.
|
||
Business
Relationships
|
There are
no business relationships in particular between the parties of the merger.
|
||
|
|
|
|
(2) Auto Leasing Business
(i) |
Sumisho Auto Leasing
Corporation
|
SMBC Auto Leasing
Company, Limited
|
|
(ii) |
Leasing
business of various vehicles
|
Leasing
business of various vehicles
|
|
(iii) |
February
21, 1981
|
January 6,
1995
|
|
(iv) |
20-2,
Nishi-Shinjuku 3-chome, Shinjuku-ku,
|
13-12,
Nihonbashi Kayaba-cho 1-chome, Chuo-ku,
|
|
(v) |
Hironori Kato,
President
|
Sumio Saito, President
|
|
(vi) |
2,750 million Yen
(Consolidated)
|
4,200 million Yen
(Non-consolidated)
|
|
(vii) |
Common Stock
19,415 thousand shares
|
Common Stock
15 thousand shares
|
|
(viii) |
40,097
million Yen
(Consolidated)
|
17,069
million Yen
(Non-consolidated)
|
|
(ix) |
184,728 million Yen
(Consolidated)
|
276,812 million Yen
(Non-consolidated)
|
|
(x) |
March 31
|
March 31
|
|
(xi) |
664
(Consolidated)
|
553
(Non-consolidated)
|
|
(xii) |
Foreign and domestic
private companies, etc.
|
Foreign and domestic
private companies, etc.
|
|
(xiii) |
SC 100%
|
SMBC
Leasing 100%
|
|
(xiv) |
The Sumitomo Trust and
Banking Co., Ltd.
|
Sumitomo Mitsui
Banking Corporation
|
|
(xv) |
Capital
Ties
|
There are
no capital ties between the parties of the merger.
|
|
Personnel
Relationships
|
There are
no personnel relationships between the parties of the merger.
|
||
Business
Relationship
|
There are
no business relationships in particular between the parties of the merger.
|
||
(xvi) Business
Results for the Latest Three Fiscal Years (Unit: Millions of Yen, except for
per share data)
|
Sumisho Lease (Consolidated)
|
||
Fiscal
Year Ended
|
March 2005
|
March 2006
|
March 2007
|
Net
Sales
|
430,872
|
450,482
|
461,313
|
Operating
Income
|
21,861
|
25,731
|
29,080
|
Ordinary
Income
|
24,714
|
28,363
|
31,126
|
Net
Income
|
15,158
|
17,080
|
20,017
|
Net
Income per Share
|
349.03 Yen
|
393.35 Yen
|
462.63 Yen
|
Annual
Cash Dividends |
30.00 Yen
|
40.00 Yen
|
25.00 Yen
|
Net
Assets per Share
|
2,072.10 Yen
|
2,727.32 Yen
|
3,187.04 Yen
|
|
SMBC Leasing
(Non-Consolidated)
|
||
Fiscal
Year Ended
|
March 2005
|
March 2006
|
March 2007
|
Net
Sales
|
589,179
|
619,749
|
630,072
|
Operating
Income
|
28,028
|
32,240
|
31,517
|
Ordinary
Income
|
20,177
|
26,729
|
29,627
|
Net
Income
|
12,476
|
17,560
|
17,952
|
Net
Income per Share
|
527.73 Yen
|
546.84 Yen
|
559.92 Yen
|
Annual
Cash Dividends |
45.00 Yen
|
78.00 Yen
|
81.00 Yen
|
Net
Assets per Share
|
3,475.82 Yen
|
4,157.31 Yen
|
4,668.29 Yen
|
|
Sumisho Auto Lease (Consolidated)
|
||
Fiscal
Year Ended
|
March 2005
|
March 2006
|
March 2007
|
Net
Sales
|
97,010
|
99,238
|
102,035
|
Operating
Income
|
10,025
|
8,244
|
9,012
|
Ordinary
Income
|
10,039
|
8,341
|
9,044
|
Net
Income
|
5,696
|
5,021
|
5,141
|
Net
Income per Share
|
291.56 Yen
|
257.15 Yen
|
264.82 Yen
|
Annual
Cash Dividends |
26.00 Yen
|
26.00 Yen
|
76.00 Yen
|
Net
Assets per Share
|
1,582.99 Yen
|
1,819.18 Yen
|
2,041.73 Yen
|
|
SMBC Auto Leasing
(Non-Consolidated)
|
||
Fiscal
Year Ended
|
March 2005
|
March 2006
|
March 2007
|
Net
Sales
|
105,558
|
116,771
|
131,110
|
Operating
Income
|
3,486
|
3,656
|
4,635
|
Ordinary
Income
|
3,463
|
3,642
|
4,716
|
Net
Income
|
1,539
|
1,795
|
3,391
|
Net
Income per Share
|
131,943.66 Yen
|
119,682.13 Yen
|
226,111.18 Yen
|
Annual
Cash Dividends |
33,334.00 Yen
|
33,334.00 Yen
|
67,800.00 Yen
|
Net
Assets per Share
|
853,790.53 Yen
|
943,114.03 Yen
|
1,137,933.74 Yen
|
5. Corporate Profile After the Merger
(1) Leasing
Business
(i)
|
Company Name
|
Sumitomo Mitsui Finance and Leasing Company, Limited
|
(ii)
|
Description of Business
|
General leasing business, Loan business
|
(iii)
|
Location of Head Office
|
9-4, Nishi-Shinbashi 3-chome, Minato-ku,
|
(iv)
|
Representative
|
Koji Ishida, Representative
Director and President
|
(v)
|
Capital
|
15,000 million Yen |
(vi)
|
Total Assets
|
3,309,930 million Yen |
(vii)
|
Fiscal Year End
|
March 31
|
(2) Auto
Leasing Business
(i)
|
Company Name
|
Sumitomo Mitsui Auto Service Company, Limited
|
(ii)
|
Description of Business
|
Leasing business of various vehicles
|
(iii)
|
Location of Head Office
|
20-2, Nishi-Shinjuku 3-chome, Shinjuku-ku,
|
(iv)
|
Representative
|
Hironori Kato, Representative
Director and President
|
(v)
|
Capital
|
6,950 million Yen |
(vi)
|
Total Assets
|
461,540 million Yen |
(vii)
|
Fiscal Year End
|
March 31
|
(Contacts
for inquiries about this matter)
Sumitomo Corporation
Public
Relations Department Mr.
Iba TEL:
03-5166-3089
Sumisho
Lease Co., Ltd.
Business
Planning Department Mr.
Matsubayashi TEL:
03-3515-1906
Sumisho
Auto Leasing Corporation
Operation
Department Mr.
Iwasaki TEL:
03-5358-6295
Sumitomo
Mitsui Financial Group, Inc.
Public
Relations Department Mr.
Naito TEL:
03-5512-2672
SMBC
Leasing Company, Limited
Planning
Department Mr.
Hiratoko TEL:
03-5404-2301
SMBC Auto Leasing
Company, Limited
Management
Planning Department Mr.
Hayashi TEL:
03-3660-8200
End
of Document
This press
release contains information about future business prospects, etc. Please
note that the information provided in this press release is based on the predictions
of the management of the parties at the time of this press release and
involves risks and uncertainties. The actual results may differ from what is disclosed
here, subject to changes in business environment, etc. Furthermore, this
press release is not made for the purpose of solicitation of any kind, domestic
or foreign.
|
|
