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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Swedish Export Credit Capped Leveraged Index Return Notes Linked TO The S&P 500 Index | NYSE:SBK | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 12.60 | 0.00 | 01:00:00 |
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BW20030901002031 20030901T120102Z UTC
( BW)(SUMITOMO-MITSUI-BNKG)(SBK) Statement re: Support for Mitsui
Mining Company's Revitalization
Business Editors
UK REGULATORY NEWS
TOKYO--(BUSINESS WIRE)--Sept. 1, 2003--
Sumitomo Mitsui Financial Group Announces Support for
Mitsui Mining Company's Revitalization
Sumitomo Mitsui Financial Group, Inc. announced today that its
subsidiary, Sumitomo Mitsui Banking Corporation (SMBC), has today
jointly submitted an application based on Clause 22 of the Industrial
Revitalization Corporation Act together with Mitsui Mining Company,
Limited ("Mitsui Mining Co."), Mitsui Mining Coke Company, Limited,
Mitsui Mining Logistics Corporation and Mitsui Coal Mining Company,
Limited, to Industrial Revitalization Corporation of Japan ("IRCJ")
for support in their revitalization, and received an approval notice
from IRCJ regarding this support.
SMBC is expected to effect financial support to Mitsui Mining Co. and
other group companies given below on the condition that other related
parties shall approve the revitalization plan, and, as the main bank,
shall take part in the support together with the IRCJ, in order to
realize the said revitalization plan.
Outline of the Support:
1. Outline of Mitsui Mining Group
-------------------- ------------------------------------------- -------------------------------------------
Trade name: Mitsui Mining Company, Limited Mitsui Mining Coke Company, Limited
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Location: 3-3 Toyosu 3-chome, Koto-ku, Tokyo 3 Hibikicho 1-chome, Wakamatsu-ku,
Kitakyushu city, Fukuoka prefecture
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Representative: Shuji Nishino Shuji Sueda
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Capital: Yen 11,641.65 million Yen 400 million
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Business: Sales of coal, construction materials, Coke manufacturing
machinery, etc.
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Trade name: Mitsui Mining Logistics Corporation Mitsui Coal Mining Company, Limited
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Location: 1 Minato-cho, Omuta city, Fukuoka 3-3 Toyosu 3-chome, Koto-ku, Tokyo
prefecture
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Representative: Takamoto Tajima Kunio Kajita
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Capital: Yen 400 million Yen 2,500 million
-------------------- ------------------------------------------- -------------------------------------------
-------------------- ------------------------------------------- -------------------------------------------
Business: Transportation Withdrawn from domestic coal mining
-------------------- ------------------------------------------- -------------------------------------------
2. Details of Financial Support
----------------------------- ----------------------------------------------------------------------------
Debt forgiveness approximately Yen 42,500 million (total being applied for by 4 companies)
----------------------------- ----------------------------------------------------------------------------
----------------------------- ----------------------------------------------------------------------------
Subscription of Capital approximately Yen 10,000 million (convertible preferred stock with
non-voting rights)
----------------------------- ----------------------------------------------------------------------------
----------------------------- ----------------------------------------------------------------------------
Date During second half of fiscal 2003
----------------------------- ----------------------------------------------------------------------------
3. SMFG's Earnings Forecast
SMFG's earnings forecast for the fiscal year ending March 31,
2004, announced on May 26, 2003, is not revised.
Short Name: Sumitomo Mitsui Bnkg
Category Code: STR
Sequence Number: 00009092
Time of Receipt (offset from UTC): 20030901T124800+0100
--30--ZW/uk*
CONTACT: Sumitomo Mitsui Bnkg
KEYWORD: UNITED KINGDOM JAPAN INTERNATIONAL EUROPE ASIA PACIFIC
INDUSTRY KEYWORD: BANKING
SOURCE: Sumitomo Mitsui Bnkg
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