Sumitomo Mitsui (NYSE: SMFG) corrects Japanese GAAP operating lease totals
Filing Impact
Filing Sentiment
Form Type
6-K/A
Rhea-AI Filing Summary
Sumitomo Mitsui Financial Group, Inc. updated its previously reported Japanese GAAP consolidated financial statements to correct a disclosure on operating lease commitments. The change affects the schedule of future minimum lease payments for non‑cancelable operating leases as of March 31, 2022 and 2023.
For March 31, 2022, the amounts remain due within 1 year of ¥37,084 million, due after 1 year of ¥212,928 million, and total of ¥250,013 million. For March 31, 2023, the corrected figures are due within 1 year of ¥34,651 million, due after 1 year of ¥254,038 million, and total of ¥288,690 million, replacing previously lower figures for the “due after 1 year” and total amounts.
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FAQ
What did Sumitomo Mitsui Financial Group (SMFG) change in this 6-K/A?
Sumitomo Mitsui Financial Group, Inc. corrected the disclosure of its future minimum lease payments on non-cancelable operating leases in its Japanese GAAP consolidated financial statements as of and for the years ended March 31, 2022 and 2023.
Which period’s lease payment figures were corrected for SMFG?
The correction applies to the table of future minimum lease payments on operating leases for the years ended March 31, 2022 and 2023, specifically within the note “(Notes to lease transactions) 2. Operating leases.”
What are the corrected 2023 operating lease payments for SMFG?
As of March 31, 2023, future minimum lease payments on non-cancelable operating leases are now reported as ¥34,651 million due within 1 year, ¥254,038 million due after 1 year, and a total of ¥288,690 million.
Did the 2022 operating lease amounts change for SMFG?
For March 31, 2022, the future minimum lease payments remain ¥37,084 million due within 1 year, ¥212,928 million due after 1 year, and a total of ¥250,013 million; these figures were restated but not numerically changed in this amendment.
Does this SMFG 6-K/A affect other disclosures from the original 6-K?
The company states that, except for this correction to the operating lease note, no other amendments are being made to the report originally furnished on June 28, 2023.