2. Developing group business strategies

In the late 2000s, the Group began to develop strategies to establish strong business models which offer a broad array of financial services, seeking to ensure its sustainable growth.

To promote the credit card business, SMBC tied up with Central Finance in April 2007 and OMC Card, a group company of Daiei, in July 2007. In April 2009, the two partner companies merged with QUOQ, an SMBC Group company, to form Cedyna Financial Corporation. The new company became the second credit card company (the first being Sumitomo Mitsui Card Company) under SMFG Card & Credit, an intermediate holding company set up in October 2008.

In the leasing business, in October 2007, Sumisho Lease, a Sumitomo Corporation group company, and SMBC Leasing Company merged to form Sumitomo Mitsui Finance and Leasing Co., Ltd. At the same time, Sumisho Auto Leasing Corporation and SMBC Auto Leasing Company merged to launch Sumitomo Mitsui Auto Service Co., Ltd.

In September 2006, SMBC Friend Securities, in which SMBC owned a 40% stake, became a wholly owned subsidiary of SMFG.