News Releases
Regarding the integration of SMFL Aircraft Capital Corporation B.V. and other entities in aircraft leasing business into SMBC Aviation Capital(1/1)
Sumitomo
Mitsui Financial Group, Inc.(Code: 8316)
Sumitomo Mitsui Finance and Leasing Company, Limited.
Sumitomo
Mitsui Banking Corporation
Sumitomo
Corporation (Code: 8053)
Regarding the integration of SMFL Aircraft Capital
Corporation B.V. and other entities
in aircraft leasing business into SMBC Aviation Capital
October 15, 2012 --- Sumitomo Mitsui Banking
Corporation (SMBC; President: Takeshi Kunibe) and
Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL; President:
Yoshinori Kawamura), both subsidiaries of Sumitomo Mitsui Financial Group, Inc.
(SMFG; President: Koichi Miyata), and Sumitomo Corporation (SC; President and
CEO: Kuniharu Nakamura) commenced the discussion on integrating
SMFL Aircraft Capital Corporation B.V. (the Netherland) and SMFL Aircraft
Capital Corporation Japan Co., Ltd. (Japan), both are the existing joint
ventures between SMFL and SC, and Sumisho Aircraft Asset Management B.V. (the
Netherland), wholly-owned subsidiary of SC, into SMBC Aviation Capital which
commences operation in June 2012. This integration is targeting at
developing the third largest aircraft leasing business in the world more speedily
and effectively, centered on SMBC Aviation Capital as a core of the
business. Agreement on
the integration as well as integration itself is sought to be reached as early
as possible, through discussion among related parties including SMBC,
Both groups,
SMFG and SC, will continue their concerted efforts to further strengthen the
aircraft leasing business, reexamine and restructure its global marketing
structure and offer
higher-value-added financial services to the airline industry and aircraft
manufacturers in both domestic and foreign markets by leveraging their many
advantages, such as a sound financial position, ability to provide
sophisticated financial solutions, broad global client base, and advanced risk
management practice.
<Overview of each company>
SMBC
Aviation Capital
(1)
Business name: SMBC
Aviation Capital
(2) Head
office location:
(3) Start
of business: 2001
(4)
Primary business: Aircraft
leasing
(5)
Ownership percentage: SMFL
60%, SMBC 30%, SC 10%
SMFL
Aircraft Capital Corporation B.V.
(1)
Company name: SMFL
Aircraft Capital Corporation B.V.
(2) Head
office location:
(3)
Incorporation: 2008
(4)
Primary business: Aircraft
leasing
(5)
Ownership percentage: SMFL
60%, SC 40%
SMFL
Aircraft Capital Japan Co., Ltd.
(1)
Company name: SMFL
Aircraft Capital Japan B.V.
(2) Head
office location:
(3)
Incorporation: 2008
(4)
Primary business: Aircraft
leasing
(5)
Ownership percentage: SMFL
60%, SC 40%
Sumisho
Aircraft Asset Management B.V.
(1)
Company name: Sumisho
Aircraft Asset Management B.V.
(2) Head
office location:
(3)
Incorporation: 2001
(4)
Primary business: Aircraft
leasing
(5)
Ownership percentage: SC
100%
