SMFNF Sumitomo Mitsui Finl (PK)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of February 2024

Commission file number 001-34919

SUMITOMO MITSUI FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:     Form 20-F ☒ or Form 40-F ☐

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF SUMITOMO MITSUI FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-276219) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

TABLE OF DOCUMENT(S) SUBMITTED

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 20, 2024

UNAUDITED QUARTERLY CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE NINE MONTHS ENDED DECEMBER 31, 2023

On February 14, 2024, we published our unaudited quarterly consolidated financial statements as of and for the nine months ended December 31, 2023 prepared in accordance with accounting principles generally accepted in Japan, or Japanese GAAP, as part of our quarterly securities report (shihanki hokokusho) for the quarter ended December 31, 2023 filed by us with the relevant Japanese authorities. This document is an English translation of the unaudited quarterly consolidated financial statements and the notes thereto included in such quarterly securities report. Japanese GAAP differs in certain respects from International Financial Reporting Standards as issued by the International Accounting Standards Board, or IFRS, and generally accepted accounting principles in the United States. For a description of certain differences between IFRS and Japanese GAAP, see “Item 5.A Operating Results—Reconciliation with Japanese GAAP” in our most recent annual report on Form 20-F filed with the SEC.

UNAUDITED QUARTERLY

CONSOLIDATED FINANCIAL STATEMENTS (JAPANESE GAAP)

QUARTERLY CONSOLIDATED BALANCE SHEETS

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QUARTERLY CONSOLIDATED BALANCE SHEETS

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QUARTERLY CONSOLIDATED STATEMENTS OF INCOME

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QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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NOTES TO UNAUDITED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS

(Basis of presentation)

Sumitomo Mitsui Financial Group, Inc. (“the Company”) was established on December 2, 2002 as a holding company for the SMBC Group (“the Group”) through a statutory share transfer (kabushiki iten) of all of the outstanding equity securities of Sumitomo Mitsui Banking Corporation (“SMBC”) in exchange for the Company’s newly issued securities. The Company is a joint stock corporation with limited liability (Kabushiki Kaisha) incorporated under the Companies Act of Japan. Upon formation of the Company and completion of the statutory share transfer, SMBC became a direct wholly owned subsidiary of the Company.

The Company has prepared the accompanying consolidated financial statements in accordance with the provisions set forth in the Japanese Financial Instruments and Exchange Act and its related accounting regulations, and in conformity with accounting principles generally accepted in Japan (“Japanese GAAP”), which are different in certain respects as to application and disclosure requirements from International Financial Reporting Standards (“IFRS”).

The accounts of overseas subsidiaries and affiliated companies are, in principle, integrated with those of the Company’s accounting policies for purposes of consolidation unless they apply different accounting principles and standards as required under U.S. GAAP or IFRS, in which case a certain limited number of items are adjusted based on their materiality.

These quarterly consolidated financial statements are translated from the quarterly consolidated financial statements contained in the quarterly securities report filed under the Financial Instruments and Exchange Act of Japan (“FIEA based financial statements”) except for the addition of U.S. dollar figures.

Amounts less than ¥1 million have been rounded down. As a result, the totals in Japanese yen shown in the financial statements do not necessarily agree with the sum of the individual amounts.

The translation of the Japanese yen amounts into U.S. dollars is included solely for the convenience of readers outside Japan, using the prevailing exchange rate at December 31, 2023 which was ¥141.83 to US$1. These translations should not be construed as representations that the Japanese yen amounts have been, could have been, or could in the future be, converted into U.S. dollars at that rate.

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(Changes in the scope of consolidation or in the scope of equity method)

SMBC Mobit Co., Ltd. was excluded from the scope of consolidation as a result of merger with Sumitomo Mitsui Card Company, Limited, a consolidated subsidiary of the Company, from the nine months ended December 31, 2023.

NCore Co., Ltd. merged with brees corporation, an equity method affiliate of the Company, and changed its name to BPORTUS Co., Ltd. And BPORTUS Co., Ltd. became a consolidated subsidiary of the Company due to the acquisition of stocks from the nine months ended December 31, 2023.

Rizal Commercial Banking Corporation and Vietnam Prosperity Joint-Stock Commercial Bank became equity method affiliates of the Company due to the acquisition of stocks from the nine months ended December 31, 2023.

(Applied special accounting methods used for preparing quarterly consolidated financial statements)

Accounting treatment of tax expenses

The Company and certain domestic consolidated subsidiaries calculated tax expenses by multiplying Income before income taxes by an effective tax rate that was reasonably estimated by applying tax effect accounting to estimated Income before income taxes for the fiscal year ending March 31, 2024 including the period for the nine months ended December 31, 2023. Amounts of Income taxes include Income taxes-deferred.

(Additional information)

On December 14, 2023, SMBC Americas Holdings, Inc., a subsidiary using its financial statements as of its quarterly account closing date (September 30, 2023) for the Company’s consolidated financial statements, transferred the entire interest in SMBC Rail Services LLC (hereinafter, “SMBC RS”) to ITE Management LP. The difference between the consolidated book value of the transferred interests and sales amount and others were recognized in “Extraordinary losses” as losses related to sale of the freight car leasing business, while SMBC RS’s statement of income for the nine months ended September 30, 2023 and balance sheet as of September 30, 2023 were consolidated into the Company’s quarterly financial statements for the nine months ended December 31, 2023 since the difference in the quarterly account closing dates between SMBC RS and the Company does not exceed three months.

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(Notes to quarterly consolidated balance sheets)

Claims under the Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions at March 31, 2023 and December 31, 2023 were as follows. The claims were items that were recorded under the following items on the quarterly consolidated balance sheet (consolidated balance sheet): bonds included in “Securities” (limited to bonds for which the redemption of principal and the payment of interest in whole or in part were guaranteed, and that were issued through private placements (under Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)), loans and bills discounted, foreign exchanges, accrued interest and suspense payments included in “Other assets,” and customers’ liabilities for acceptances and guarantees. If security lending listed in the notes was conducted, such securities (limited to those based on loan for a use agreement or lease agreement) were also included in the claims.

The amounts of loans presented above were the amounts before deduction of reserve for possible loan losses.

The amounts guaranteed by banking subsidiaries to privately-placed bonds (stipulated by Article 2, Paragraph 3 of the Financial Instruments and Exchange Act) in “Securities” at March 31, 2023 and December 31, 2023 were as follows:

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(Notes to quarterly consolidated statements of income)

“Other income” for the nine months ended December 31, 2022 and 2023 included the following:

“Other expenses” for the nine months ended December 31, 2022 and 2023 included the following:

“Extraordinary gains” for the nine months ended December 31, 2022 and 2023 included the following:

“Extraordinary losses” for the nine months ended December 31, 2022 and 2023 included the following:

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(Notes to quarterly consolidated statements of cash flows)

Quarterly consolidated statements of cash flows were not prepared for the nine months ended December 31, 2023. “Depreciation” (including amortization of intangible fixed assets other than goodwill) and “Amortization of goodwill” for the nine months ended December 31, 2022 and 2023 were as follows:

(Notes to stockholders’ equity)

Dividends paid in the nine months ended December 31, 2022

Dividends paid in the nine months ended December 31, 2023

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(Notes to segment and other related information)

[Segment information]

The changes in the methods of head office profit and loss allocation to each business unit were made during the period for the nine months ended December 31, 2023. The results of retrospective application for the changes were as follows:

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Note: Figures shown in the parenthesis represent the loss.

Note: Figures shown in the parenthesis represent the loss.

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(Notes to financial instruments)

There were no significant matters to be disclosed regarding financial instruments.

(Notes to securities)

The amounts shown in the following tables include negotiable certificates of deposit classified as “Cash and due from banks,” and beneficiary claims on loan trust classified as “Monetary claims bought,” in addition to “Securities” stated in the quarterly consolidated balance sheets.

Note: The fair values are based on their market prices and others at the end of the fiscal year.

Note: The fair values are based on their market prices and others at the end of the period.

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Bonds classified as held-to-maturity and other securities (excluding other securities whose quarterly consolidated balance sheet amounts are not measured at fair value) are considered as impaired if the fair value decreases materially below the acquisition cost and such a decline is not considered as recoverable. The fair value is recognized as the quarterly consolidated balance sheet amount (consolidated balance sheet amount) and the amount of write-down is accounted for as valuation loss for the period. Valuation losses for the fiscal year ended March 31, 2023 and for the nine months ended December 31, 2023 were ¥408 million and ¥35,024 million, respectively. The rule for determining “material decline” is as follows and is based on the classification of issuers under the rules of self-assessment of assets.

Bankrupt issuers: Issuers that are legally bankrupt or formally declared bankrupt.

Effectively bankrupt issuers: Issuers that are not legally bankrupt but regarded as substantially bankrupt.

Potentially bankrupt issuers: Issuers that are not bankrupt now, but are perceived to have a high risk of falling into bankruptcy.

Issuers requiring caution: Issuers that are identified for close monitoring.

Normal issuers: Issuers other than the above 4 categories of issuers.

(Notes to money held in trust)

Fiscal year ended March 31, 2023

There were no corresponding transactions.

Nine months ended December 31, 2023

There were no corresponding transactions.

Note: Consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the fiscal year.

Note: Quarterly consolidated balance sheet amount is measured at fair value based on its market price and others at the end of the period.

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(Notes to derivative transactions)

(1) Interest rate derivatives

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

Derivative transactions to which the hedge accounting method was applied were not included in the table above.

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(2) Currency derivatives

Derivative transactions to which the hedge accounting method was applied were not included in the table above. In addition, transactions related to financial assets and liabilities denominated in foreign currencies and recognized in the consolidated balance sheets, or transactions related to financial assets and liabilities denominated in foreign currencies which had been eliminated in the consolidation were not included in the table above.

Derivative transactions to which the hedge accounting method was applied were not included in the table above. In addition, transactions related to financial assets and liabilities denominated in foreign currencies and recognized in the quarterly consolidated balance sheets, or transactions related to financial assets and liabilities denominated in foreign currencies which had been eliminated in the consolidation were not included in the table above.

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(3) Equity derivatives