Morningstar - Sumitomo Mitsui Financial Group Inc. (8316) SMFGs strengths in consumer finance and credit cards help drive higher-than-peers level of returns.

Report

Morningstar

Michael Makdad

EUR 100.00 For Business Accounts Only

SMFG's strengths in consumer finance and credit cards help drive higher-than-peers level of returns.

No-moat Sumitomo Mitsui Financial Group, or SMFG, reported solid first-quarter earnings for fiscal 2018 that were in line with expectations, and revealed early signs of success from their cost-cutting efforts. Net profit was JPY 227.084 billion, which is down 6% compared with last year's strong first quarter, but still well-ahead of management's guidance and 32% of their full-year target. We maintain our fair value estimate of JPY 5,000, and believe the stock is undervalued.
Earnings were suppor...

18/10/2018 12 EN

Underlying

Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group is a holding company of the group mainly engaged in the provision of finance services. Co. offers services include deposits, loans, securities transaction, securities investment, domestic and foreign exchange, futures trading, bond fiduciary and registration, trust, security investment trust and insurance over-the-counter sales; leasing business; securities business; consumer finance, automobile sale finance business, venture capital business, business consulting, membership business, loan business, factoring, system development, information processing, money collection, swap related and investment adviser, among others.

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JP3890350006 Japan

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Michael Makdad

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SMFG's strengths in consumer finance and credit cards help drive higher-than-peers level of returns.

Monthly LMI Update Independent Investment Research

With a more favourable environment, SUMI MITSUI FIN GRP improves to Slightly Positive

Feasibility Study Results in December to be a Catalyst for this Junior

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Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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