Strengths and Challenges

Strengths (3) Limited downside risks
(Case 2) Deferred tax assets

In FY3/2009, we calculated SMBC’s deferred tax assets more conservatively, by adding extra stress on its estimated future earnings, which affect the collectability of deferred tax assets. As a result, adjustments for net deferred tax assets as of March 31, 2009, decreased approximately JPY 300 billion year over year to approximately JPY 660 billion.

<Reference> Net deferred tax assets (SMBC)

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