Accelerating Value Creation for Shareholders
Establishment of new business model
Consumer finance: Overview of strategic alliance with Promise
SMFG
Capital Alliance
Capital investment: (% of outstanding shares)
15% (done) 20%* (plan)
Business Alliance
Provide loan products through SMBC's marketing
channels
Establish a new JV (SMBC Consumer Finance Co., Ltd.**)
Marketing, credit monitoring, and collection provided by
Promise
Jointly develop loan products for small corporations
Business alliance between SMFG's subsidiaries &
affiliates and Promise
PROMISE
* Plans to acquire additional Promise shares in appropriate ways, up to 20% of total outstanding shares. **Tentative name
SMFG
Now, I would like to explain the outline of our strategic alliance with
Promise.
This is a full-scale alliance comprising both capital and business
alliances. In capital alliance, we have already acquired 15% of Promise's
shares, and we plan to increase our share to up to around 20%.
In business alliance, we will complete the design of our action plan by
the end of this September and lay the groundwork, including the
establishment of a new JV, for starting up a new business model at a
fast pitch as we initially planned.
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