I would like to extend my sincerest appreciation for your support and patronage.
In April 2017, SMBC Group embarked on the Medium-Term Management Plan that was titled “SMBC Group Next Stage”. The previous fiscal year, which was the final year of this plan, experienced a series of risk events, including the U.S.-China trade conflict and the spread of the novel coronavirus. Despite such uncertainties in the business environment, we were able to conclude the three-year Medium-Term Management Plan on a strong note.
Looking ahead, the business environment surrounding financial institutions is expected to become more challenging. Low growth in the domestic market, increased competition across financial and non-financial industries, and growing risks in the global economy are only a few of the challenges that we face.In spite of this, SMBC Group will continue to transform itself to adopt to changes in society and economy. We aspire to remain competitive despite the challenges. We will continue to pursue steady growth of our business by providing high value-added solutions to our clients.