6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of December 2025

Commission file number 001-34919

SUMITOMO MITSUI FINANCIAL GROUP, INC.

(Translation of registrant’s name into English)

1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ or Form 40-F ☐

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF SUMITOMO MITSUI FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-276219) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

TABLE OF DOCUMENT(S) SUBMITTED

1.	Unaudited interim consolidated Japanese GAAP financial statements as of and for the six months<br> ended September 30, 2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Sumitomo Mitsui Financial Group, Inc.
By:	/s/ Kazuyuki Anchi
	Name: Kazuyuki Anchi
	Title: Senior Managing Executive Officer <br>Group Chief Financial<br>Officer

Date: December 4, 2025

UNAUDITED INTERIM CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025

On November 28, 2025, we published our unaudited interim consolidated financial statements as of and for the six months ended September 30, 2025 prepared in accordance with accounting principles generally accepted in Japan, or Japanese GAAP, as part of our semiannual securities report (hanki hokokusho) for the six months ended September 30, 2025 filed by us with the relevant Japanese authorities. This document is an English translation of the unaudited interim consolidated financial statements and the notes thereto included in such semiannual securities report. Japanese GAAP differs in certain respects from International Financial Reporting Standards as issued by the International Accounting Standards Board, or IFRS, and generally accepted accounting principles in the United States. For a description of certain differences between IFRS and Japanese GAAP, see “Item 5.A Operating Results—Reconciliation with Japanese GAAP” in our most recent annual report on Form 20-F filed with the SEC.

UNAUDITED INTERIM

CONSOLIDATED FINANCIAL STATEMENTS (JAPANESE GAAP)

INTERIM CONSOLIDATED BALANCE SHEETS

	Millions of yen						Millions ofU.S. dollars
	March 31,2025			September 30, 2025			September 30, 2025
Assets:
Cash and due from banks	*5	¥	75,590,583	*5	¥	72,597,960	$	487,857
Call loans and bills bought			5,197,978			5,700,746		38,309
Receivables under resale agreements			16,205,759			15,649,591		105,165
Receivables under securities borrowing transactions			5,799,821			6,675,134		44,857
Monetary claims bought			5,618,985			5,891,424		39,590
Trading assets	2,5		11,976,375	2,5		12,347,718		82,976
Money held in trust			32,272			34,637		233
Securities	1,2,3,5,*11		40,760,968	1,2,3,5,*11		39,320,963		264,236
Loans and bills discounted	3,4,5,6		111,136,239	3,4,5,6		113,126,523		760,208
Foreign exchanges	3,4		2,712,573	3,4		2,396,352		16,103
Lease receivables and investment assets			231,199			220,839		1,484
Other assets	3,5		13,722,960	3,5		14,099,744		94,750
Tangible fixed assets	7,8		1,006,556	7,8		1,019,848		6,853
Intangible fixed assets			1,017,322			1,046,105		7,030
Net defined benefit asset			987,288			1,019,106		6,848
Deferred tax assets			71,261			90,053		605
Customers’ liabilities for acceptances and guarantees	*3		15,139,799	*3		15,559,987		104,563
Reserve for possible loan losses			(925,931)			(890,823)		(5,986)
Total assets		¥	306,282,015		¥	305,905,915	$	2,055,681

—1—

(Continued)

	Millions of yen						Millions ofU.S. dollars
	March 31,2025			September 30, 2025			September 30, 2025
Liabilities and net assets:
Liabilities:
Deposits		¥	171,498,651		¥	170,026,335	$	1,142,573
Negotiable certificates of deposit			17,175,391			16,060,889		107,929
Call money and bills sold			4,378,276			3,613,678		24,284
Payables under repurchase agreements	*5		25,797,136	*5		26,584,137		178,645
Payables under securities lending transactions	*5		2,183,655	*5		1,940,546		13,040
Commercial paper			2,686,483			3,396,178		22,822
Trading liabilities			9,726,615			10,167,086		68,323
Borrowed money	5,9		11,355,209	5,9		10,349,249		69,547
Foreign exchanges			1,771,839			2,016,859		13,553
Short-term bonds			728,200			610,400		4,102
Bonds	5,10		13,352,392	5,10		13,762,860		92,486
Due to trust account			1,041,660			1,163,687		7,820
Other liabilities			13,700,199			14,341,760		96,376
Reserve for employee bonuses			130,464			81,567		548
Reserve for executive bonuses			5,433			—		—
Net defined benefit liability			33,890			34,936		235
Reserve for executive retirement benefits			1,007			802		5
Reserve for point service program			32,656			33,326		224
Reserve for reimbursement of deposits			5,573			3,829		26
Reserve for losses on interest repayment			242,127			234,577		1,576
Reserves under the special laws			5,365			5,877		39
Deferred tax liabilities			422,050			586,837		3,944
Deferred tax liabilities for land revaluation	*7		26,424	*7		26,241		176
Acceptances and guarantees			15,139,799			15,559,987		104,563
Total liabilities			291,440,506			290,601,655		1,952,837
Net assets:
Capital stock			2,345,960			2,346,888		15,771
Capital surplus			611,423			612,350		4,115
Retained earnings			8,290,170			8,660,587		58,199
Treasury stock			(38,512)			(38,638)		(260)
Total stockholders’ equity			11,209,042			11,581,187		77,825
Net unrealized gains (losses) on other securities			1,930,834			2,193,835		14,743
Net deferred gains (losses) on hedges			(168,604)			(175,973)		(1,183)
Land revaluation excess	*7		32,849	*7		29,986		202
Foreign currency translation adjustments			1,411,827			1,274,553		8,565
Accumulated remeasurements of defined benefit plans			287,487			262,174		1,762
Total accumulated other comprehensive income			3,494,393			3,584,577		24,088
Stock acquisition rights			767			645		4
Non-controlling interests			137,306			137,849		926
Total net assets			14,841,509			15,304,259		102,844
Total liabilities and net assets		¥	306,282,015		¥	305,905,915	$	2,055,681

—2—

INTERIM CONSOLIDATED STATEMENTS OF INCOME

	Millions of yen								Millions of U.S. dollars
Six months ended September 30	2024				2025				2025
Ordinary income			¥	5,276,938			¥	5,205,887	$	34,983
Interest income				3,450,738				3,518,701		23,646
Interest on loans and discounts				1,992,942				1,984,187		13,334
Interest and dividends on securities				468,838				487,345		3,275
Trust fees				4,499				5,550		37
Fees and commissions				905,938				983,620		6,610
Trading income				436,753				141,842		953
Other operating income				79,744				157,461		1,058
Other income		*1		399,264		*1		398,710		2,679
Ordinary expenses				4,246,466				3,927,763		26,394
Interest expenses				2,324,340				2,235,764		15,024
Interest on deposits				829,337				832,295		5,593
Fees and commissions payments				151,321				154,273		1,037
Trading losses				132,106				—		—
Other operating expenses				224,648				118,352		795
General and administrative expenses		*2		1,172,747		*2		1,228,787		8,257
Other expenses		*3		241,302		*3		190,585		1,281
Ordinary profit				1,030,472				1,278,123		8,589
Extraordinary gains		*4		1,527		*4		2,259		15
Extraordinary losses		5,6		4,599		5,6		4,909		33
Income before income taxes				1,027,400				1,275,474		8,571
Income taxes-current				264,819				333,759		2,243
Income taxes-deferred				32,753				3,652		25
Income taxes				297,572				337,411		2,267
Profit				729,827				938,062		6,304
Profit attributable to non-controlling interests				4,655				4,557		31
Profit attributable to owners of parent			¥	725,172			¥	933,505	$	6,273

—3—

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Millions of yen						Millions of U.S. dollars
Six months ended September 30	2024			2025			2025
Profit		¥	729,827		¥	938,062	$	6,304
Other comprehensive income (losses)			(355,833)			92,107		619
Net unrealized gains (losses) on other securities			(255,139)			265,832		1,786
Net deferred gains (losses) on hedges			(63,775)			(5,824)		(39)
Land revaluation excess			—			(776)		(5)
Foreign currency translation adjustments			(98,034)			(55,572)		(373)
Remeasurements of defined benefit plans			(14,408)			(25,367)		(170)
Share of other comprehensive income of affiliates			75,523			(86,183)		(579)
Total comprehensive income			373,994			1,030,170		6,923
Comprehensive income attributable to owners of parent			370,291			1,025,774		6,893
Comprehensive income attributable to non-controlling<br>interests			3,702			4,395		30

—4—

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

	Millions of yen
	Stockholders’ equity
Six months ended September 30, 2024	Capitalstock		Capitalsurplus		Retainedearnings		Treasurystock		Total
Balance at the beginning of the period	¥	2,344,038	¥	610,143	¥	7,843,470	¥	(167,671)	¥	10,629,980
Cumulative effects of changes in accounting policies						59,330				59,330
Restated balance		2,344,038		610,143		7,902,800		(167,671)		10,689,311
Changes in the period
Issuance of new stock		1,922		1,922						3,844
Cash dividends						(177,382)				(177,382)
Profit attributable to owners of parent						725,172				725,172
Purchase of treasury stock								(101,576)		(101,576)
Disposal of treasury stock				(339)				486		147
Cancellation of treasury stock				(234,659)				234,659		—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests				(232)						(232)
Increase due to decrease in subsidiaries						39				39
Reversal of land revaluation excess						825				825
Transfer from retained earnings to capital surplus				234,999		(234,999)				—
Net changes in items other than stockholders’ equity in the period
Net changes in the period		1,922		1,689		313,656		133,569		450,838
Balance at the end of the period	¥	2,345,960	¥	611,833	¥	8,216,457	¥	(34,101)	¥	11,140,149
	Millions of yen
---	---	---	---	---	---	---	---	---	---	---	---	---
	Accumulated other comprehensive income
Six months ended September 30, 2024	Net unrealizedgains (losses)on othersecurities		Net deferredgains (losses)on hedges		Landrevaluationexcess		Foreigncurrencytranslationadjustments		Accumulatedremeasurementsof definedbenefit plans		Total
Balance at the beginning of the period	¥	2,406,883	¥	(65,073)	¥	34,936	¥	1,362,647	¥	290,735	¥	4,030,129
Cumulative effects of changes in accounting policies		(59,330)										(59,330)
Restated balance		2,347,553		(65,073)		34,936		1,362,647		290,735		3,970,798
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock
Changes in shareholders’ interest due to transaction with<br>non-controlling interests
Increase due to decrease in subsidiaries
Reversal of land revaluation excess
Transfer from retained earnings to capital surplus
Net changes in items other than stockholders’ equity in the period		(251,849)		(70,122)		(825)		(17,624)		(15,283)		(355,706)
Net changes in the period		(251,849)		(70,122)		(825)		(17,624)		(15,283)		(355,706)
Balance at the end of the period	¥	2,095,703	¥	(135,196)	¥	34,110	¥	1,345,023	¥	275,451	¥	3,615,092

—5—

(Continued)

	Millions of yen
Six months ended September 30, 2024	Stockacquisitionrights		Non-controllinginterests		Totalnet assets
Balance at the beginning of the period	¥	931	¥	138,925	¥	14,799,967
Cumulative effects of changes in accounting policies						—
Restated balance		931		138,925		14,799,967
Changes in the period
Issuance of new stock						3,844
Cash dividends						(177,382)
Profit attributable to owners of parent						725,172
Purchase of treasury stock						(101,576)
Disposal of treasury stock						147
Cancellation of treasury stock						—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests						(232)
Increase due to decrease in subsidiaries						39
Reversal of land revaluation excess						825
Transfer from retained earnings to capital surplus						—
Net changes in items other than stockholders’ equity in the period		(141)		(2,215)		(358,062)
Net changes in the period		(141)		(2,215)		92,775
Balance at the end of the period	¥	790	¥	136,710	¥	14,892,743

—6—

(Continued)

Six months ended September 30, 2025	Millions of yen
	Stockholders’ equity
	Capitalstock		Capitalsurplus		Retainedearnings		Treasurystock		Total
Balance at the beginning of the period	¥	2,345,960	¥	611,423	¥	8,290,170	¥	(38,512)	¥	11,209,042
Changes in the period
Issuance of new stock		927		927						1,855
Cash dividends						(240,202)				(240,202)
Profit attributable to owners of parent						933,505				933,505
Purchase of treasury stock								(100,579)		(100,579)
Disposal of treasury stock				(280)				461		181
Cancellation of treasury stock				(99,990)				99,990		—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests				(0)						(0)
Decrease due to decrease in affiliates accounted for by the equity method						(224,699)				(224,699)
Reversal of land revaluation excess						2,085				2,085
Transfer from retained earnings to capital surplus				100,271		(100,271)				—
Net changes in items other than stockholders’ equity in the period
Net changes in the period		927		926		370,417		(126)		372,145
Balance at the end of the period	¥	2,346,888	¥	612,350	¥	8,660,587	¥	(38,638)	¥	11,581,187
Six months ended September 30, 2025	Millions of yen
---	---	---	---	---	---	---	---	---	---	---	---	---
	Accumulated other comprehensive income
	Net unrealizedgains (losses)on othersecurities		Net deferredgains (losses)on hedges		Landrevaluationexcess		Foreigncurrencytranslationadjustments		Accumulatedremeasurementsof definedbenefit plans		Total
Balance at the beginning of the period	¥	1,930,834	¥	(168,604)	¥	32,849	¥	1,411,827	¥	287,487	¥	3,494,393
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock
Changes in shareholders’ interest due to transaction with<br>non-controlling interests
Decrease due to decrease in affiliates accounted for by the equity method
Reversal of land revaluation excess
Transfer from retained earnings to capital surplus
Net changes in items other than stockholders’ equity in the period		263,001		(7,368)		(2,862)		(137,273)		(25,313)		90,183
Net changes in the period		263,001		(7,368)		(2,862)		(137,273)		(25,313)		90,183
Balance at the end of the period	¥	2,193,835	¥	(175,973)	¥	29,986	¥	1,274,553	¥	262,174	¥	3,584,577

—7—

(Continued)

Six months ended September 30, 2025	Millions of yen
	Stockacquisitionrights		Non-controllinginterests		Totalnet assets
Balance at the beginning of the period	¥	767	¥	137,306	¥	14,841,509
Changes in the period
Issuance of new stock						1,855
Cash dividends						(240,202)
Profit attributable to owners of parent						933,505
Purchase of treasury stock						(100,579)
Disposal of treasury stock						181
Cancellation of treasury stock						—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests						(0)
Decrease due to decrease in affiliates accounted for by the equity method						(224,699)
Reversal of land revaluation excess						2,085
Transfer from retained earnings to capital surplus						—
Net changes in items other than stockholders’ equity in the period		(122)		543		90,604
Net changes in the period		(122)		543		462,750
Balance at the end of the period	¥	645	¥	137,849	¥	15,304,259

—8—

(Continued)

Six months ended September 30, 2025	Millions of U.S. dollars
	Stockholders’ equity
	Capitalstock			Capitalsurplus			Retainedearnings			Treasurystock			Total
Balance at the beginning of the period		$	15,765		$	4,109		$	55,710		$	(259)	$	75,325
Changes in the period
Issuance of new stock			6			6								12
Cash dividends									(1,614)					(1,614)
Profit attributable to owners of parent									6,273					6,273
Purchase of treasury stock												(676)		(676)
Disposal of treasury stock						(2)						3		1
Cancellation of treasury stock						(672)						672		—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests						(0)								(0)
Decrease due to decrease in affiliates accounted for by the equity method									(1,510)					(1,510)
Reversal of land revaluation excess									14					14
Transfer from retained earnings to capital surplus						674			(674)					—
Net changes in items other than stockholders’ equity in the period
Net changes in the period			6			6			2,489			(1)		2,501
Balance at the end of the period		$	15,771		$	4,115		$	58,199		$	(260)	$	77,825
Six months ended September 30, 2025	Millions of U.S. dollars
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Accumulated other comprehensive income
	Net unrealizedgains (losses)on othersecurities			Net deferredgains (losses)on hedges			Landrevaluationexcess			Foreigncurrencytranslationadjustments			Accumulatedremeasurementsof definedbenefit plans			Total
Balance at the beginning of the period		$	12,975		$	(1,133)		$	221		$	9,487		$	1,932	$	23,482
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock
Changes in shareholders’ interest due to transaction with<br>non-controlling interests
Decrease due to decrease in affiliates accounted for by the equity method
Reversal of land revaluation excess
Transfer from retained earnings to capital surplus
Net changes in items other than stockholders’ equity in the period			1,767			(50)			(19)			(922)			(170)		606
Net changes in the period			1,767			(50)			(19)			(922)			(170)		606
Balance at the end of the period		$	14,743		$	(1,183)		$	202		$	8,565		$	1,762	$	24,088

—9—

(Continued)

Six months ended September 30, 2025	Millions of U.S. dollars
	Stockacquisitionrights			Non-controllinginterests			Totalnet assets
Balance at the beginning of the period		$	5		$	923	$	99,735
Changes in the period
Issuance of new stock								12
Cash dividends								(1,614)
Profit attributable to owners of parent								6,273
Purchase of treasury stock								(676)
Disposal of treasury stock								1
Cancellation of treasury stock								—
Changes in shareholders’ interest due to transaction with<br>non-controlling interests								(0)
Decrease due to decrease in affiliates accounted for by the equity method								(1,510)
Reversal of land revaluation excess								14
Transfer from retained earnings to capital surplus								—
Net changes in items other than stockholders’ equity in the period			(1)			4		609
Net changes in the period			(1)			4		3,110
Balance at the end of the period		$	4		$	926	$	102,844

—10—

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

	Millions of yen						Millions of U.S. dollars
Six months ended September 30	2024			2025			2025
Cash flows from operating activities:
Income before income taxes		¥	1,027,400		¥	1,275,474	$	8,571
Depreciation			122,068			124,168		834
Losses on impairment of fixed assets			298			1,830		12
Amortization of goodwill			13,566			12,980		87
Equity in net (gains) losses of affiliates			(45,724)			(78,061)		(525)
Net change in reserve for possible loan losses			(19,672)			(31,543)		(212)
Net change in reserve for employee bonuses			(31,048)			(47,441)		(319)
Net change in reserve for executive bonuses			(4,412)			(5,439)		(37)
Net change in net defined benefit asset and liability			(23,249)			(30,768)		(207)
Net change in reserve for executive retirement benefits			(287)			(204)		(1)
Net change in reserve for point service program			(5,581)			670		5
Net change in reserve for reimbursement of deposits			(2,180)			(1,743)		(12)
Net change in reserve for losses on interest repayment			87,940			(7,549)		(51)
Interest income			(3,450,738)			(3,518,701)		(23,646)
Interest expenses			2,324,340			2,235,764		15,024
Net (gains) losses on securities			(304,473)			(285,464)		(1,918)
Net (gains) losses from money held in trust			11			(127)		(1)
Net exchange (gains) losses			322,490			(206,768)		(1,389)
Net (gains) losses from disposal of fixed assets			2,108			306		2
Net change in trading assets			492,401			(923,185)		(6,204)
Net change in trading liabilities			(927,073)			1,009,086		6,781
Net change in loans and bills discounted			1,829,740			(1,907,501)		(12,818)
Net change in deposits			(998,792)			(1,661,291)		(11,164)
Net change in negotiable certificates of deposit			(1,324,752)			(1,116,767)		(7,505)
Net change in borrowed money (excluding subordinated borrowings)			147,068			(976,284)		(6,561)
Net change in deposits with banks			5,487,809			(472,544)		(3,175)
Net change in call loans and bills bought and others			(3,224,342)			(427,439)		(2,872)
Net change in receivables under securities borrowing transactions			873,208			(879,920)		(5,913)
Net change in call money and bills sold and others			1,877,960			297,509		1,999
Net change in commercial paper			(477,201)			731,283		4,914
Net change in payables under securities lending transactions			(319,139)			(239,692)		(1,611)
Net change in foreign exchanges (assets)			(316,091)			317,614		2,134
Net change in foreign exchanges (liabilities)			(671,012)			244,975		1,646
Net change in lease receivables and investment assets			(30,522)			5,765		39
Net change in short-term bonds (liabilities)			148,500			(117,800)		(792)
Issuance and redemption of bonds (excluding subordinated bonds)			239,247			63,079		424
Net change in due to trust account			(629,957)			122,027		820
Interest received			3,508,124			3,626,726		24,372
Interest paid			(2,370,574)			(2,193,264)		(14,739)
Other, net			292,751			(487,387)		(3,275)
Subtotal			3,620,207			(5,547,633)		(37,280)
Income taxes paid			(278,239)			(341,443)		(2,294)
Net cash provided by (used in) operating activities			3,341,967			(5,889,077)		(39,574)

—11—

(Continued)

	Millions of yen								Millions of U.S. dollars
Six months ended September 30	2024				2025				2025
Cash flows from investing activities:
Purchases of securities			¥	(24,557,525)			¥	(22,889,922)	$	(153,820)
Proceeds from sale of securities				10,892,126				9,532,166		64,056
Proceeds from redemption of securities				12,161,037				15,937,554		107,100
Purchases of money held in trust				(9,163)				(6,300)		(42)
Proceeds from sale of money held in trust				0				4,063		27
Purchases of tangible fixed assets				(43,348)				(59,259)		(398)
Proceeds from sale of tangible fixed assets				2,450				2,591		17
Purchases of intangible fixed assets				(116,769)				(133,423)		(897)
Net cash provided by (used in) investing activities				(1,671,192)				2,387,470		16,044
Cash flows from financing activities:
Proceeds from subordinated borrowings				33,000				29,000		195
Repayment of subordinated borrowings				(10,000)				(8,000)		(54)
Proceeds from issuance of subordinated bonds and bonds with stock acquisition rights				432,820				388,810		2,613
Redemption of subordinated bonds and bonds with stock acquisition rights				(364,827)				(42,000)		(282)
Dividends paid				(177,364)				(240,053)		(1,613)
Proceeds from issuance of common stock to non-controlling<br>stockholders				—				1,200		8
Dividends paid to non-controlling stockholders				(5,981)				(4,123)		(28)
Purchases of treasury stock				(101,576)				(100,579)		(676)
Proceeds from disposal of treasury stock				147				181		1
Proceeds from sale of stocks of subsidiaries not resulting in change in scope of<br>consolidation				0				—		—
Net cash provided by (used in) financing activities				(193,783)				24,434		164
Effect of exchange rate changes on cash and cash equivalents				(323,326)				5,791		39
Net change in cash and cash equivalents				1,153,664				(3,471,380)		(23,328)
Cash and cash equivalents at the beginning of the period				66,380,330				66,187,674		444,780
Cash and cash equivalents at the end of the period		*1	¥	67,533,995		*1	¥	62,716,294	$	421,452

—12—

NOTES TO UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Basis of presentation)

Sumitomo Mitsui Financial Group, Inc. (“the Company”) was established on December 2, 2002, as the holding company for the SMBC Group (“the Group”) through a statutory share transfer (kabushiki iten) of all the outstanding equity securities of Sumitomo Mitsui Banking Corporation (“SMBC”) in exchange for the Company’s newly issued securities. The Company is a joint stock corporation with limited liability (Kabushiki Kaisha) incorporated under the Companies Act of Japan. Upon formation of the Company and completion of the statutory share transfer, SMBC became a direct wholly owned subsidiary of the Company.

The Company has prepared the accompanying consolidated financial statements in accordance with the provisions set forth in the Japanese Financial Instruments and Exchange Act and its related accounting regulations, and in conformity with accounting principles generally accepted in Japan (“Japanese GAAP”), which differ from International Financial Reporting Standards (“IFRS”) in certain respects, particularly regarding application and disclosure requirements.

The accounts of overseas subsidiaries and affiliated companies are, in principle, integrated with those of the Company’s accounting policies for purposes of consolidation unless they apply different accounting principles and standards as required under U.S. GAAP or IFRS, in which case a certain limited number of items are adjusted based on their materiality.

These interim consolidated financial statements are translated from the interim consolidated financial statements contained in the interim securities report filed under the Financial Instruments and Exchange Act of Japan (“FIEA-based financial statements”), except for the addition of the non-consolidated financial statements and U.S. dollar figures.

Amounts less than ¥1 million have been rounded down. As a result, the totals in Japanese yen shown in the financial statements do not necessarily agree with the sum of the individual amounts.

The translation of the Japanese yen amounts into U.S. dollars is included solely for the convenience of readers outside Japan, using the prevailing exchange rate at September 30, 2025 which was ¥148.81 to US$1. These translations should not be construed as representations that the Japanese yen amounts have been, could have been, or could in the future be, converted into U.S. dollars at that rate.

—13—

(Significant accounting policies for preparing interim consolidated financial statements)

1. Scope of consolidation

(1) Consolidated subsidiaries

The number of consolidated subsidiaries at September 30, 2025 was 177.

Principal companies:	Sumitomo Mitsui Banking Corporation (“SMBC”)
	SMBC Trust Bank Ltd.
	SMBC Nikko Securities Inc.
	Sumitomo Mitsui Card Company, Limited
	SMBC Consumer Finance Co., Ltd.
	JRI Holdings, Limited
	The Japan Research Institute, Limited
	Sumitomo Mitsui DS Asset Management Company, Limited
	SMBC Bank International plc
	SMBC Bank EU AG
	Sumitomo Mitsui Banking Corporation (China) Limited
	PT Bank SMBC Indonesia Tbk
	SMBC Americas Holdings, Inc.
	SMBC Guarantee Co., Ltd.

Changes in the consolidated subsidiaries in the six months ended September 30, 2025 were as follows:

Olive Consulting, Inc. and 5 other companies were newly included in the scope of consolidation due to new establishment.

1 company was excluded from the scope of consolidation because it ceased to be a subsidiary following its liquidation.

(2) Unconsolidated subsidiaries

Principal company:	SBCS Co., Ltd.

Changes in the unconsolidated subsidiaries in the six months ended September 30, 2025 were as follows:

7 of the unconsolidated subsidiaries were investment partnerships, and neither their assets nor profit/loss were substantially attributable to the said subsidiaries, and thus were excluded from the scope of consolidation pursuant to Article 5, Paragraph 1, Item 2 of the Ordinance on the Terminology, Forms, and Preparation Methods of Interim Consolidated Financial Statements.

Other unconsolidated subsidiaries were excluded from the scope of consolidation because their total amounts of total assets, ordinary income, net income and retained earnings were immaterial respectively, as such, they did not hinder a rational judgment of the financial position and results of operations of the Company and its consolidated subsidiaries when excluded from the scope of consolidation.

(3) Entities not regarded as subsidiaries even though the Company owns the majority of voting rights in its own account

Principal companies:	Tamago & Company Inc.
	Fustnot Inc.
	Aqua Clara, inc.
	Aqua Clara Lemon Gas Holdings Co., Ltd.
	NJT Copper Tube Corporation

(Reasons not regarded as subsidiaries)

The Company’s consolidated subsidiary conducting investment business owns their voting rights primarily to obtain capital gains through investments or restructuring of their business, and has no intent to control.

—14—

2. Application of the equity method

(1) Unconsolidated subsidiaries accounted for by the equity method

The number of unconsolidated subsidiaries accounted for by the equity method at September 30, 2025 was 5.

Principal company:	SBCS Co., Ltd.

(2) Equity method affiliates

The number of affiliates accounted for by the equity method at September 30, 2025 was 258.

Principal companies:	Sumitomo Mitsui Finance and Leasing Company, Limited
	Sumitomo Mitsui Auto Service Company, Limited

Changes in the equity method affiliates in the six months ended September 30, 2025 were as follows:

YES BANK LIMITED and 31 other companies became equity method affiliates due to the acquisition of stocks and other reasons.

The Bank of East Asia, Limited and 12 other companies were excluded from the scope of equity method affiliates due to the sale of stocks and other reasons.

(3) Unconsolidated subsidiaries not accounted for by the equity method

7 of the unconsolidated subsidiaries not accounted for by the equity method were investment partnerships, and neither their assets nor profit/loss were substantially attributable to the said subsidiaries, and thus were excluded from the scope of equity method pursuant to Article 7, Paragraph 1, Item 2 of the Ordinance on the Terminology, Forms, and Preparation Methods of Interim Consolidated Financial Statements.

(4) Affiliates not accounted for by the equity method

Principal company:	Park Square Capital / SMBC Loan Programme S.à r.l.

Affiliates not accounted for by the equity method were also excluded from the scope of equity method because their total amounts of net income and retained earnings were immaterial, and as such, they did not hinder a rational judgment of the Company’s financial position and results of operations when excluded from the scope of equity method.

(5)	Entities not regarded as affiliates even though the Company owns 20 percent or more but not more than<br>50 percent of voting rights in its own account
Principal companies:	UDI Building Confirmations and Inspections. Inc.
---	---
	Geo Maintenance Co., Ltd.
	Yuki Shoji Co., Ltd.

(Reasons not regarded as affiliates)

3. The interimbalance sheet dates of consolidated subsidiaries

(1) The interim balance sheet dates of the consolidated subsidiaries at September 30, 2025 were as follows:

December 31	1
March 31	1
April 30	2
May 31	3
June 30	86
September 30	84

—15—

(2)

The subsidiary with the interim balance sheet date of December 31 is consolidated using financial statements as of June 30. The subsidiaries with the interim balance sheet dates of April 30 are consolidated using financial statements as of July 31. The subsidiaries with the interim balance sheet dates of March 31 and May 31, and certain subsidiaries with the interim balance sheet dates of June 30, are consolidated using financial statements as of September 30. Other subsidiaries are consolidated using financial statements as of their respective interim balance sheet dates.

Appropriate adjustments are made to material transactions during the periods between their respective interim balance sheet dates and the interim consolidated closing dates.

—16—

4. Accounting policies

(1)	Standards for recognition and measurement of trading assets/liabilities and trading income/losses<br>

Transactions for trading purposes (seeking gains arising from short-term changes in interest rates, currency exchange rates, or market prices of securities and other market related indices or from variation among markets) are included in “Trading assets” or “Trading liabilities” on the interim consolidated balance sheets on a trade date basis. Profits and losses on trading-purpose transactions are recognized on a trade date basis, and recorded as “Trading income” and “Trading losses” on the interim consolidated statements of income.

Securities and monetary claims purchased for trading purposes are stated at the interim period-end market value, and financial derivatives such as swaps, futures and options are stated at amounts that would be settled if the transactions were terminated at the interim consolidated balance sheet date.

“Trading income” and “Trading losses” include interest received or paid during the interim period. The valuation differences of securities and monetary claims between the end of the fiscal year ended March 31, 2025 and the six months ended September 30, 2025 were also recorded in the above-mentioned accounts. As for the derivatives, assuming that the settlement will be made in cash, the valuation differences between the end of the fiscal year ended March 31, 2025 and the six months ended September 30, 2025 were also recorded in the above-mentioned accounts.

In terms of the evaluation of specific market risks and credit risks for derivative transactions, those fair values are calculated on a group basis of the financial assets and liabilities based on net asset or liability after offsetting.

(2)	Standards for recognition and measurement of securities
1)	Debt securities that are classified as<br>held-to-maturity securities are measured at amortized cost (based on straight-line method) using the moving-average method. Investments in affiliates that are not<br>accounted for by the equity method are measured at cost using the moving-average method. Other securities are measured at their interim period-end market prices (cost of securities sold is calculated using<br>primarily the moving-average method). Stocks with no market prices are measured at cost using the moving-average method.
---	---

(2)

Standards for recognition and measurement of securities

Debt securities that are classified as held-to-maturity securities are measured at amortized cost (based on straight-line method) using the moving-average method. Investments in affiliates that are not accounted for by the equity method are measured at cost using the moving-average method. Other securities are measured at their interim period-end market prices (cost of securities sold is calculated using primarily the moving-average method). Stocks with no market prices are measured at cost using the moving-average method.

---

Net unrealized gains (losses) on other securities, net of income taxes, are included in “Net assets” except for the amount reflected as the gains or losses by applying fair value hedge accounting.

2)	Securities included in money held in trust are measured using the same method as described in (1) and<br>(2) 1) above.
(3)	Standards for recognition and measurement of derivative transactions
---	---

Derivative transactions, excluding those classified as trading derivatives, are measured at fair value.

—17—

(4)	Depreciation
1)	Tangible fixed assets (excluding lease assets)
---	---

Buildings owned by the Company and SMBC, which is a consolidated subsidiary of the Company, are depreciated using the straight-line method. The estimated useful lives of major items are as follows:

Buildings:	7 to 69 years
Others:	2 to 20 years

Other consolidated subsidiaries depreciate tangible fixed assets primarily using the straight-line method over the estimated useful lives of the respective assets.

2)	Intangible fixed assets

Intangible fixed assets are depreciated using the straight-line method. Capitalized software for internal use owned by the Company and its consolidated domestic subsidiaries is depreciated over its estimated useful life (5-10 years).

3)	Lease assets

Lease assets with respect to non-transfer ownership finance leases, which are recorded in “Tangible fixed assets,” are depreciated using the straight-line method, assuming that lease terms are their expected lifetime and salvage values are zero.

(5)	Reserve for possible loan losses

The reserve for possible loan losses of major consolidated subsidiaries is provided as detailed below in accordance with the internal standards for write-offs and provisions.

For claims on borrowers that have entered into bankruptcy, special liquidation proceedings or similar legal proceedings (“Bankrupt borrowers”) or borrowers that are not legally or formally insolvent but are regarded as substantially in the same situation (“Effectively bankrupt borrowers”), a reserve is provided based on the amount of claims, after the write-off stated below, net of the expected amount of recoveries from collateral and guarantees. For claims on borrowers that are not currently bankrupt but are perceived to have a high risk of falling into bankruptcy (“Potentially bankrupt borrowers”), a reserve is provided in the amount deemed necessary based on an overall solvency assessment of the claims, net of the expected amount of recoveries from collateral and guarantees.

SMBC, which is a consolidated subsidiary of the Company, applies Discounted Cash Flows (“DCF”) method for claims of large borrowers exceeding a certain amount, of which borrowers categories are bankrupt borrowers, effectively bankrupt borrowers and potentially bankrupt borrowers and whole or part of loans are classified as “Past due loans (3 months or more)” or “Restructured loans” requiring close monitoring, and whose cash flows from collection of principals and interest can be rationally estimated. SMBC establishes a reserve for possible loan losses using the DCF method for such claims in the amount of the difference between the present value of principal and interest (calculated using the rationally estimated cash flows discounted at the initial contractual interest rate) and the book value.

For other claims, they are recorded by estimating the amount of expected loss in the next one year or three years. The estimated amount of expected loss is calculated by using average ratio of loan-loss ratio or probability of default for certain periods in the past based on actual loan losses or default in the past one year or three years, and by making necessary adjustments including future estimations.

—18—

In addition, in light of the latest economic situation and risk factors, for potential losses for specific portfolios that are based on the future prospects with high probability, but cannot be reflected in actual loan losses in the past and in any individual borrower’s classification, a reserve is provided in the amount deemed necessary based on an overall assessment.

For claims originated in specific overseas countries, an additional reserve is provided in the amount deemed necessary based on the assessment of political and economic conditions.

Branches and credit supervision departments assess all claims in accordance with the internal rules for self-assessment of assets, and the credit review department, independent from these operating sections, audits their assessment.

The reserve for possible loan losses of other consolidated subsidiaries for general claims is provided in the amount deemed necessary based on the historical loan-loss ratios, and for doubtful claims in the amount deemed uncollectible based on assessment of each claim.

For collateralized or guaranteed claims on bankrupt borrowers and effectively bankrupt borrowers, the amount exceeding the estimated value of collateral and guarantees is deemed to be uncollectible and written off against the total outstanding amount of the claims. The amounts written off were ¥251,823 million and ¥242,971 million at September 30 and March 31, 2025, respectively.

(6)	Reserve for employee bonuses

The reserve for employee bonuses is provided for payment of bonuses to employees, in the amount of estimated bonuses, which are attributable to the interim period.

(7)	Reserve for executive retirement benefits

The reserve for executive retirement benefits is provided for payment of retirement benefits to executives, in the amount of deemed accrued at the interim period-end based on the Company’s internal regulations.

(8)	Reserve for point service program

The reserve for point service program is provided for the potential future redemption of points awarded to customers under the “V Point” which is the Group-wide point service program, and other customer points award programs. The amount is calculated by converting the outstanding points into a monetary amount, and rationally estimating and recognizing the amount that will be redeemed in the future.

(9)	Reserve for reimbursement of deposits

The reserve for reimbursement of deposits which were derecognized as liabilities under certain conditions is provided for the possible losses on the future claims of withdrawal based on the historical reimbursements.

(10)	Reserve for losses on interest repayment

The reserve for losses on interest repayment is provided for the possible losses on future claims of repayment of interest based on historical interest repayment results.

(11)	Reserves under the special laws

The reserves under the special laws are reserves for contingent liabilities and provided for compensation for losses from securities related transactions or derivative transactions, pursuant to Article 46-5 of the Financial Instruments and Exchange Act.

—19—

(12)	Employee retirement benefits

In calculating the projected benefit obligation, mainly the benefit formula basis is used to attribute the expected benefit to the period by the end of the interim period.

Unrecognized prior service cost is amortized on a straight-line basis, primarily over 9 years within the employees’ average remaining service period at incurrence.

Unrecognized net actuarial gain (loss) is amortized on a straight-line basis, primarily over 9 years within the employees’ average remaining service period, commencing from the next fiscal year of incurrence.

(13)	Revenue recognition
1)	Revenue recognition
---	---

Revenue from contracts with customers is recognized by identifying the satisfaction of performance obligation of each of the transactions based on the actual transaction of the contractual coverage.

2)	Revenue recognition of major transactions

Regarding revenue from contracts with customers, the contractual coverage and timing of identifying the satisfaction of performance obligation of each item of fees and commissions are determined as follows.

Revenue for deposits and loans, mainly including the commission fees, etc. for account transfer and commissions for administration fees during the loan period of syndicated loans, is recognized when the transaction starts with the customer or over the period of the transaction of the related services.

Revenue for remittances and transfers, mainly including the fees for domestic and overseas remittances, is recognized when the related services are provided.

Revenue for securities-related business, mainly including trading commissions such as sales commissions of stocks and bonds, is recognized when the transaction starts with the customer.

Revenue for agency business, mainly including the accepted commissions between banks due to online alliances commission fees, etc. for proxy office management, is recognized when the transaction starts with the customer or over the period of the transaction of the related service.

Revenue for safe deposits, mainly including storage fees for safekeeping deposit and usage fees of safes and protective boxes, is recognized over the period of the transaction of the related service.

Revenue for credit card business, mainly including merchant fees, is recognized when the credit sales data arrives.

Revenue for investment trusts, mainly including the commissions for processing sales and records management of investment trusts, etc., is recognized when the transaction starts with the customer or over the period of the transaction of the related service.

(14)	Translation of foreign currency assets and liabilities

Assets and liabilities of the Company and SMBC, which is a consolidated subsidiary of the Company, denominated in foreign currencies and accounts of SMBC overseas branches are translated into Japanese yen mainly at the exchange rate prevailing at the interim consolidated balance sheet date, with the exception of stocks of subsidiaries and affiliates translated at rates prevailing at the time of acquisition.

Other consolidated subsidiaries’ assets and liabilities denominated in foreign currencies are translated into Japanese yen at the exchange rate prevailing at their respective interim balance sheet dates.

—20—

(15)	Lease transactions

Income from finance lease transactions is recognized by allocating the interest portion to each period over the lease term.

(16)	Hedge accounting
1)	Hedging against interest rate changes
---	---

As for the hedge accounting method applied to hedging transactions for interest rate risk arising from financial assets and liabilities, SMBC, which is a consolidated subsidiary of the Company, applies deferred hedge accounting.

SMBC applies deferred hedge accounting stipulated in “Treatment for Accounting and Auditing of Application of Accounting Standard for Financial Instruments in Banking Industry” (JICPA Industry Committee Practical Guideline No. 24, March 17, 2022) to portfolio hedges on groups of large-volume, small-value monetary claims and debts.

As for the portfolio hedges to offset market fluctuation, SMBC assesses the effectiveness of such hedges by classifying the hedged items (such as deposits and loans) and the hedging instruments (such as interest rate swaps) by their maturity. As for the portfolio hedges to fix cash flows, SMBC assesses the effectiveness of such hedges by verifying the correlation between the hedged items and the hedging instruments.

As for the individual hedges, SMBC also assesses the effectiveness of such individual hedges.

2)	Hedging against currency fluctuations

SMBC, which is a consolidated subsidiary of the Company, applies deferred hedge accounting stipulated in “Treatment of Accounting and Auditing Concerning Accounting for Foreign Currency Transactions in Banking Industry” (JICPA Industry Committee Practical Guideline No. 25, October 8, 2020) to currency swap and foreign exchange swap transactions executed for the purpose of lending or borrowing funds in different currencies.

Pursuant to JICPA Industry Committee Practical Guideline No. 25, SMBC assesses the effectiveness of currency swap and foreign exchange swap transactions executed for the purpose of offsetting the risk of changes in currency exchange rates by verifying that there are foreign-currency monetary claims and debts corresponding to the foreign-currency positions.

In order to hedge risk arising from volatility of exchange rates for stocks of subsidiaries and affiliates and other securities (excluding bonds) denominated in foreign currencies, SMBC applies deferred hedge accounting or fair value hedge accounting, on the conditions that the hedged securities are designated in advance and that sufficient on-balance (actual) or off-balance (forward) liability exposure exists to cover the cost of the hedged securities denominated in the same foreign currencies.

3)	Hedging against share price fluctuations

SMBC, which is a consolidated subsidiary of the Company, applies fair value hedge accounting to individual hedges offsetting the price fluctuation of the shares that are classified under other securities, and accordingly evaluates the effectiveness of such individual hedges.

—21—

4)	Transactions between consolidated subsidiaries

As for derivative transactions between consolidated subsidiaries or internal transactions between trading accounts and other accounts (or among internal sections), SMBC manages the interest rate swaps and currency swaps that are designated as hedging instruments in accordance with the non-arbitrary and strict criteria for external transactions stipulated in JICPA Industry Committee Practical Guidelines No. 24 and No. 25. Therefore, SMBC accounts for the gains or losses that arise from interest rate swaps and currency swaps in its earnings or defers them, rather than eliminating them.

Certain other consolidated subsidiaries apply the deferred hedge accounting, fair value hedge accounting or the special treatment for interest rate swaps.

(17)	Amortization of goodwill

Goodwill is amortized using the straight-line method over a period in which its benefit is expected to be realized, not to exceed 20 years. Immaterial goodwill is charged or credited to income directly when incurred.

(18)	Scope of “Cash and cash equivalents” on interim consolidated statements of cash flows<br>

For the purpose of presenting the interim consolidated statements of cash flows, “Cash and cash equivalents” are cash on hand, non-interest earning deposits with banks and deposits with the Bank of Japan.

(19)	Adoption of the group tax sharing system

The Company and certain consolidated domestic subsidiaries apply the group tax sharing system.

—22—

(Additional information)

The estimates of reserve for possible loan losses in consideration of tariff measures in the U.S.

Considering concerns over the potential future deterioration in the credit status of companies that are susceptible to rapid changes in the environment arising from the high tariff measures imposed by the U.S. on its trading partners, the estimation of the reserve for possible loan losses associated with such an impact is reflected in the interim consolidated financial statements using the following method.

For potential losses expected to be incurred related to individual borrowers due to deteriorating business performance and funding, a reserve for possible loan losses is provided by reviewing, as necessary, borrower category based on the most recent available information.

In addition, for potential losses which cannot be reflected in any individual borrower category, a reserve for possible loan losses is recorded at an amount deemed necessary based on an overall assessment. The assessment includes specifying the portfolios that are considered to be easily affected by the abovementioned factors from the perspectives of the country and industry, and estimating the impact of the tariff measures.

As a result, an additional reserve for possible loan losses at a total of ¥34,125 million was recorded for such portfolios.

The estimates of reserve for possible loan losses related to the impact of the current international situation involving Ukraine

Considering the uncertain business environment caused by the current international situation involving Ukraine, estimation of the reserve for possible loan losses associated with the Russia-related credits is reflected in the interim consolidated financial statements using the following method. The Russia-related credits are mainly related to corporate customers in Russia.

For losses expected to be incurred in connection with individual borrowers based on the impact of economic sanctions imposed by governments of each country and the countermeasures taken by the Russian government, etc., a reserve for possible loan losses is provided by reviewing, as necessary, borrower categories based on the most recent available information. In addition, a reserve for possible loan losses is recorded as a reserve for claims originated in specific overseas countries at an amount deemed necessary in consideration of the political and economic situation in Russia.

Furthermore, in light of the probability of delays in principal or interest payments and the easing of payment terms, etc. due to the prolonged impact of such economic sanctions and countermeasures, and the deterioration in the credit status of Russia including interest payments on Russian government bonds, a reserve for possible loan losses is recorded at an amount deemed necessary based on an overall assessment.

Also, regarding certain funds, including collection of claims from customers in Russia, given the prolonged difficulty in collecting the funds through overseas remittances as a result of the Russian Presidential decree and instructions of the Central Bank of the Russian Federation, the impact of the countermeasure is estimated, and a reserve for possible loan losses is recorded at an amount deemed necessary based on an overall assessment.

As a result, a reserve for possible loan losses at a total of ¥87,269 million was recorded for the Russia-related credits.

The estimates of reserve for possible loan losses related to the impact of prolonged high interest rates overseas

Considering the continually increasing burden of interest payments on companies due to prolonged high interest rates overseas, the estimation of the reserve for possible loan losses associated with such an impact is reflected in the interim consolidated financial statements using the following method.

—23—

In addition, for potential losses which cannot be reflected in any individual borrower category, a reserve for possible loan losses is recorded at an amount deemed necessary based on an overall assessment. The assessment includes specifying the portfolios that are considered to be easily affected by the abovementioned factors from the perspectives of the forms of lending and industry, and estimating the impact of changes in the market conditions and the prolonged high interest rates.

As a result, an additional reserve for possible loan losses at a total of ¥31,617 million was recorded for such portfolios.

The estimates of reserve for possible loan losses in consideration of changes in domestic business environment and other factors

For certain portfolios, the estimation of the reserve for possible loan losses associated with impacts including changes in the domestic business environment such as continuously inflated raw material prices and an increase in labor costs, along with changes in the financial environment such as an increase in the policy interest rate, is reflected in the interim consolidated financial statements using the following method, considering concerns over the future deterioration in credit conditions.

In addition, for potential losses which cannot be reflected in any individual borrower category, a reserve for possible loan losses is recorded at an amount deemed necessary based on an overall assessment. The assessment includes specifying the portfolios that are considered to be easily affected by the abovementioned factors from the perspectives of the forms of lending and ability of debt repayment, and estimating the impact of changes in the market condition.

As a result, an additional reserve for possible loan losses at a total of ¥10,565 million was recorded for such portfolios.

—24—

(Notes to interim consolidated balance sheets)

*1	Stocks and investments in unconsolidated subsidiaries and affiliates

Stocks and investments in unconsolidated subsidiaries and affiliates at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Stocks	¥	1,791,771	¥	1,642,351
Investments		14,821		20,360
*2	Unsecured loaned securities for which borrowers have the right to sell or pledge
---	---

The amounts of unsecured loaned securities for which borrowers have the right to sell or pledge at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Japanese government bonds and Japanese local government bonds in “Securities”	¥	292,129	¥	287,397
Trading securities in “Trading assets”		225		495

As for the unsecured borrowed securities, securities under resale agreements and securities borrowed with cash collateral with rights to sell or pledge without restrictions, those securities pledged, those securities lent and those securities held without being disposed at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Securities pledged	¥	9,358,574	¥	10,308,265
Securities lent		75,718		102,560
Securities held without being disposed		13,396,963		13,451,068

—25—

*3	Claims under the Banking Act and the Act on Emergency Measures for the Revitalization of FinancialFunctions

Claims under the Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions at March 31, 2025 and September 30, 2025 were as follows. The claims were items that were recorded under the following items on the interim consolidated balance sheet (consolidated balance sheet): bonds included in “Securities” (limited to bonds for which the redemption of principal and the payment of interest in whole or in part were guaranteed, and that were issued through private placements (under Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)), loans and bills discounted, foreign exchanges, accrued interest and suspense payments included in “Other assets,” and customers’ liabilities for acceptances and guarantees. If security lending listed in the notes was conducted, such securities (limited to those based on loan for a use agreement or lease agreement) were also included in the claims.

	Millions of yen
	March 31, 2025		September 30, 2025
Bankrupt and quasi-bankrupt loans	¥	75,234	¥	77,187
Doubtful loans		454,767		517,813
Substandard loans		351,693		420,446
Past due loans (3 months or more)		60,843		76,796
Restructured loans		290,850		343,649
Subtotal		881,696		1,015,447
Normal loans		130,080,805		131,943,466
Total	¥	130,962,501	¥	132,958,913

Bankrupt and quasi-bankrupt loans are claims to borrowers who have fallen into bankruptcy due to reasons such as commencement of bankruptcy proceedings, commencement of reorganization proceedings, or petition for commencement of rehabilitation proceedings, and other similar claims.

Doubtful loans are claims to borrowers who have not yet become bankrupt but whose financial condition and business performance have deteriorated and it is highly probable that the loan principal cannot be recovered and interest cannot be received in accordance with the contract, excluding bankrupt and quasi-bankrupt loans.

Past due loans (3 months or more) are loans for which the payment of principal or interest has been delayed for three months or more from the day after the agreed-upon payment date, excluding bankrupt and quasi-bankrupt loans and doubtful loans.

Restructured loans are loans on which terms and conditions have been amended in favor of the borrower with the objective of assisting the borrower’s financial recovery, such as by reducing or exempting interest, postponing interest payment and principal repayment, and forgiving debts, excluding bankrupt and quasi-bankrupt loans, doubtful loans, and past due loans (3 months or more).

Normal loans are loans that do not fall under the classification of bankrupt and quasi-bankrupt loans, doubtful loans, past due loans (3 months or more), and restructured loans, and where the borrower has no financial or business performance problems.

The amounts of loans presented above were the amounts before deduction of reserve for possible loan losses.

—26—

*4	Bills discounted

Bills discounted are accounted for as financial transactions in accordance with JICPA Industry Committee Practical Guideline No. 24. SMBC and its banking subsidiaries have the rights to sell or pledge bank acceptance bought, commercial bills discounted, documentary bills and foreign exchanges bought without restrictions, etc. The face values at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025	September 30, 2025
Bills discounted	¥ 870,770	¥ 930,944
*5	Assets pledged as collateral
---	---

Assets pledged as collateral at March 31, 2025 and September 30, 2025 were as follows:

March 31, 2025	Millions of yen		September 30, 2025	Millions of yen
Assets pledged as collateral:			Assets pledged as collateral:
Cash and due from banks	¥	3,790	Cash and due from banks	¥	4,139
Trading assets		1,891,203	Trading assets		1,403,821
Securities		13,009,593	Securities		10,876,124
Loans and bills discounted		10,728,100	Loans and bills discounted		10,228,285
Liabilities corresponding to assets pledged as collateral:			Liabilities corresponding to assets pledged as collateral:
Payables under repurchase agreements		12,670,866	Payables under repurchase agreements		10,632,355
Payables under securities lending transactions		1,595,624	Payables under securities lending transactions		1,245,114
Borrowed money		8,331,558	Borrowed money		7,393,764
Bonds		758,629	Bonds		602,365

In addition to the assets presented above, the following assets were pledged as collateral for cash settlements, and substitution for margins of futures transactions and certain other purposes at March 31, 2025 and September 30, 2025:

March 31, 2025	Millions of yen		September 30, 2025	Millions of yen
Cash and due from banks	¥	16,952	Cash and due from banks	¥	16,764
Trading assets		1,198,444	Trading assets		963,702
Securities		8,351,529	Securities		8,463,917
Loans and bills discounted		553,201	Loans and bills discounted		1,008,972

Other assets include collateral money deposited for financial instruments, surety deposits, margins of futures markets and other margins. The amounts for such assets were as follows:

March 31, 2025	Millions of yen		September 30, 2025	Millions of yen
Collateral money deposited for financial instruments	¥	1,925,437	Collateral money deposited for financial instruments	¥	2,021,794
Surety deposits		80,006	Surety deposits		76,061
Margins of futures markets		56,775	Margins of futures markets		51,026
Other margins		100,799	Other margins		90,750

—27—

*6	Commitment line contracts on overdrafts and loans

Commitment line contracts on overdrafts and loans are agreements to lend to customers, up to a prescribed amount, as long as there is no violation of any condition established in the contracts. The amounts of unused commitments at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
The amounts of unused commitments	¥	91,090,878	¥	95,237,191
The amounts of unused commitments whose original contract terms are within 1 year or<br>unconditionally cancelable at any time		56,556,826		59,685,691

Since many of these commitments are expected to expire without being drawn upon, the total amount of unused commitments does not necessarily affect actual future cash flow. Many of these commitments include clauses under which an application from customers can be rejected or contract amounts can be reduced in the event that economic conditions change, the necessity for securing claims, or other events occur. In addition, at the time of contract, collateral such as premises and securities are requested to be pledged. Also, after concluding the contracts, customer’s financial positions are monitored regularly based on internal procedures, and necessary measures such as revising contracts and securing claims are taken when such needs arise.

*7	Land revaluation excess

SMBC, a consolidated subsidiary of the Company, revaluated its own land for business activities in accordance with “Act on Revaluation of Land” (the “Act”) (Act No. 34, effective March 31, 1998) and the “Act for Partial Revision of Act on Revaluation of Land” (Act No. 19, effective March 31, 2001). The income taxes corresponding to the net unrealized gains are reported in “Liabilities” as “Deferred tax liabilities for land revaluation,” and the Company’s share of the net unrealized gains, net of deferred taxes, are reported as “Land revaluation excess” in “Net assets.”

Date of the revaluation

March 31, 1998 and March 31, 2002

Method of revaluation (stipulated in Article 3, Paragraph 3 of the Act)

Fair values were determined by applying appropriate adjustments for land shape and timing of appraisal, as well as neighboring sales, to the value based on fixed asset tax valuation, standard land price, and appraisal evaluation conducted by a licensed real estate appraiser or an assistant real estate appraiser, as stipulated respectively by Items 3, 4, or 5 of Article 2 of the “Order for Enforcement of Act on Revaluation of Land” (Cabinet Order No. 119, effective March 31, 1998).

*8	Accumulated depreciation on tangible fixed assets

Accumulated depreciation on tangible fixed assets at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Accumulated depreciation	¥	857,729	¥	873,555

—28—

*9	Subordinated borrowings

The balance of subordinated borrowings included in “Borrowed money” at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Subordinated borrowings	¥	176,000	¥	197,000
*10	Subordinated bonds
---	---

The balance of subordinated bonds included in “Bonds” at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Subordinated bonds	¥	3,153,557	¥	3,484,898
*11	Guaranteed amount to privately-placed bonds
---	---

The amount guaranteed by banking subsidiaries to privately-placed bonds (stipulated by Article 2, Paragraph 3 of Financial Instruments and Exchange Act) in “Securities” at March 31, 2025 and September 30, 2025 were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Guaranteed amounts to privately-placed bonds	¥	1,006,735	¥	933,580

—29—

(Notes to interim consolidated statements of income)

*1	Other income

“Other income” for the six months ended September 30, 2024 and 2025 included the following:

Six months ended September 30, 2024	Millions of yen		Six months ended September 30, 2025	Millions of yen
Gains on sales of stocks and others	¥	309,766	Gains on sales of stocks and others	¥	293,993
*2	General and administrative expenses
---	---

“General and administrative expenses” for the six months ended September 30, 2024 and 2025 included the following:

Six months ended September 30, 2024	Millions of yen		Six months ended September 30, 2025	Millions of yen
Salaries and related expenses	¥	455,177	Salaries and related expenses	¥	479,880
*3	Other expenses
---	---

“Other expenses” for the six months ended September 30, 2024 and 2025 included the following:

Six months ended September 30, 2024	Millions of yen		Six months ended September 30, 2025	Millions of yen
Provision for reserve for losses on interest repayment	¥	99,000	Write-off of loans	¥	86,066
Write-off of loans		87,845
*4	Extraordinary gains
---	---

“Extraordinary gains” for the six months ended September 30, 2024 and 2025 were as follows:

Six months ended September 30, 2024	Millions of yen		Six months ended September 30, 2025	Millions of yen
Gains on disposal of fixed assets	¥	1,527	Gains on disposal of fixed assets	¥	2,259
*5	Extraordinary losses
---	---

“Extraordinary losses” for the six months ended September 30, 2024 and 2025 were as follows:

Six months ended September 30, 2024	Millions of yen		Six months ended September 30, 2025	Millions of yen
Losses on disposal of fixed assets	¥	3,636	Losses on disposal of fixed assets	¥	2,566
Provision for reserve for contingent liabilities from financial instruments<br>transactions		664	Losses on impairment of fixed assets		1,830
Losses on impairment of fixed assets		298	Provision for reserve for contingent liabilities from financial instruments transactions		512

—30—

*6	Losses on impairment of fixed assets

The differences between the recoverable amounts and the book value of the following assets were recognized as “Losses on impairment of fixed assets,” and included in “Extraordinary losses” for the six months ended September 30, 2024 and 2025.

Six months ended September 30, 2024			Millions of yen
Area	Purpose of use	Type	Impairment loss
Tokyo metropolitan area	Corporate asset (1 item)	Buildings, etc.	¥	7
	Idle assets (36 items)	Land and buildings, etc.		192
Kinki area	Idle assets (20 items)	Land and buildings, etc.		91
Other	Branches (1 item)	Land and buildings, etc.		1
	Idle assets (9 items)			5
Six months ended September 30, 2025			Millions of yen
---	---	---	---	---
Area	Purpose of use	Type	Impairment loss
Tokyo metropolitan area	Corporate assets (2 items)	Buildings, etc.	¥	178
	Idle assets (32 items)	Land and buildings, etc.		1,027
Kinki area	Idle assets (14 items)	Land and buildings, etc.		622
Other	Idle assets (5 items)	Land and buildings, etc		2

As for land and buildings, etc., each branch, which continuously manages and determines its income and expenses, is the smallest unit of asset group for recognition and measurement of impairment loss of fixed assets. Intangible fixed assets and assets such as corporate headquarters facilities, training facilities, data and system centers, and health and recreational facilities which did not produce independent cash flows at headquarters were treated as corporate assets. Some subsidiaries such as SMBC, a consolidated subsidiary of the Company, utilized management accounting framework to identify corporate assets that were reasonably deemed to be used solely by each business unit as each business unit’s corporate assets, and conducted impairment assessments on a business unit basis together with other related fixed assets.

As for idle assets, the assets group for recognition and measurement of impairment loss was each individual property level. The carrying amounts of idle assets were reduced to their recoverable amounts, and the reduced amounts were included in “Extraordinary losses” as “Losses on impairment of fixed assets,” if there were indicators that the invested amounts might not be recoverable. The recoverable amount was calculated using net realizable value, which was basically determined by subtracting the expected disposal cost from the real estate appraisal value.

*7	Application of the global minimum tax rules

The Group applied Paragraph 7 of the “Accounting for and Disclosure of Current Taxes Related to the Global Minimum Tax Rules” (ASBJ Practical Solution No.46, March 22, 2024), and did not recognize current income taxes related to the global minimum tax for the fiscal year that includes the period for the six months ended September 30, 2025.

—31—

(Notes to interim consolidated statements of changes in net assets)

Six months ended September 30, 2024

1. Type and number of shares issued and treasury stock

	Number of shares
	At the beginningof the period		Increase		Decrease		At the endof the period
Shares issued
Common stock		1,337,529,084		341,902		29,693,800		1,308,177,186	1, 2
Total		1,337,529,084		341,902		29,693,800		1,308,177,186
Treasury stock
Common stock		23,587,866		9,722,183		29,752,599		3,557,450	3, 4, 5
Total		23,587,866		9,722,183		29,752,599		3,557,450
Notes:	1.	The increase of 341,902 shares in the total number of shares issued was due to issuance of new stocks as stock-based<br>compensation.
---	---	---
	2.	The decrease of 29,693,800 shares in the total number of shares issued was due to cancellation of treasury<br>stock.
	3.	The increase of 9,722,183 shares in the number of treasury common stock comprises the increase of 11,383 shares due to<br>the purchases of fractional shares, the increase of 149,000 shares due to the acquisition of the Company’s shares held by the stock grant trust for employees (“the Trust”) and the increase of 9,561,800 shares due to the repurchase<br>of treasury stocks.
	4.	The decrease of 29,752,599 shares in the number of treasury common stock comprises the decrease of 58,699 shares due to<br>the sales of fractional shares as well as the exercise of stock options, the decrease of 100 shares due to the sales of the Company’s shares held by the Trust and the decrease of 29,693,800 shares due to the cancellation of treasury<br>stocks.
	5.	The number of treasury common stock at the end of the period of 3,557,450 shares included 148,900 shares of the Company<br>held by the Trust.

2. Information on stock acquisition rights

				Number of shares								Millions ofyen
	Details of stockacquisition rights	Type ofshares		At thebeginningof the period		Increase		Decrease		At the end<br>of theperiod		At the end<br>of theperiod
The Company	Stock acquisition rights<br>as stock options		—		—		—		—		—	¥	790
Total												¥	790

3. Information on dividends

(1) Dividends paid in the period

Date of resolution		Millions of yen, except per share amount
	Type of shares	Cash dividends		Cash dividendsper share		Record date		Effective date
Ordinary General Meeting of Shareholders held on June 27, 2024	Common stock	¥	177,382	¥	135		March 31, 2024		June 28, 2024

(2) Dividends to be paid in the next period

Date of resolution		Millions of yen, except per share amount
	Type of shares	Cashdividends	Source ofdividends	Cashdividendsper share	Record date	Effective date
Meeting of the Board of Directors held on November 14, 2024	Common stock	¥ 234,858	Retained<br>earnings	¥ 180	September 30,<br>2024	December 3,<br>2024
Note:	On October 1, 2024, the Company executed a<br>three-for-one split of its common stock, with a record date of September 30, 2024. Cash dividends per share were stated at the amount before the stock<br>split.
---	---

—32—

Six months ended September 30, 2025

1. Type and number of shares issued and treasury stock

	Number of shares
	At the beginningof the period		Increase		Decrease		At the endof the period
Shares issued
Common stock		3,884,445,458		513,282		27,551,100		3,857,407,640	1, 2
Total		3,884,445,458		513,282		27,551,100		3,857,407,640
Treasury stock
Common stock		10,651,848		27,717,715		27,679,933		10,689,630	3, 4, 5
Total		10,651,848		27,717,715		27,679,933		10,689,630
Notes:	1.	The increase of 513,282 shares in the total number of shares issued was due to the issuance of new stocks as stock-based<br>compensation.
---	---	---
	2.	The decrease of 27,551,100 shares in the total number of shares issued was due to the cancellation of treasury<br>stock.
	3.	The increase of 27,717,715 shares in the number of treasury common stock comprises the increase of 13,615 shares due to<br>the purchases of fractional shares, the increase of 153,000 shares due to the acquisition of the Company’s shares held by the stock grant trust for employees (“the Trust”) and the increase of 27,551,100 shares due to the repurchase<br>of treasury stocks.
	4.	The decrease of 27,679,933 shares in the number of treasury common stock comprises the decrease of 111,333 shares due to<br>the sales of fractional shares as well as the exercise of stock options, the decrease of 17,500 shares due to the issuance and sales of the Company’s shares held by the Trust and the decrease of 27,551,100 shares due to the cancellation of<br>treasury stocks.
	5.	The number of treasury common stock at the end of the period of 10,689,630 shares included 582,200 shares of the Company<br>held by the Trust.

2. Information on stock acquisition rights

					Number of shares								Millions ofyen
	Details of stockacquisition rights		Type ofshares		At thebeginningof the period		Increase		Decrease		At the endof theperiod		At the end<br>of the period
The Company		Stock acquisition rights<br>as stock options		—		—		—		—		—	¥	645
Total													¥	645

3. Information on dividends

(1) Dividends paid in the period

			Millions of yen, except per share amount
Date of resolution	Type of shares		Cash dividends		Cash dividendsper share		Record date		Effective date
Ordinary General Meeting of <br>Shareholders held on June 27, 2025		Common stock	¥	240,202	¥	62		March 31, 2025		June 30, 2025
Note:	Cash dividends resolved at the Ordinary General Meeting of Shareholders held on June 27, 2025 included<br>¥27 million of cash dividends on the Company’s shares held by the Trust.
---	---

(2) Dividends to be paid in the next period

			Millions of yen, except per share amount
Date of resolution	Type of shares		Cashdividends		Source ofdividends		Cashdividendsper share		Record date		Effective date
Meeting of the Board of Directors <br>held on November 14, 2025		Common stock	¥	300,089		Retained<br>earnings	¥	78		September 30, 2025		December 2, 2025
Note:	Cash dividends resolved at the Meeting of the Board of Directors held on November 14, 2025 included<br>¥45 million of cash dividends on the Company’s shares held by the Trust.
---	---

—33—

(Notes to interim consolidated statements of cash flows)

*1	The reconciliation of balance of “Cash and cash equivalents” at the end of the period andthe amounts of items stated on the interim consolidated balance sheets
	Millions of yen
---	---	---	---	---
Six months ended September 30	2024		2025
Cash and due from banks	¥	73,612,647	¥	72,597,960
Interest earning deposits with banks <br>(excluding the deposit with the Bank of Japan)		(6,078,652)		(9,881,665)
Cash and cash equivalents	¥	67,533,995	¥	62,716,294

(Notes to lease transactions)

1. Finance leases

(1) Lessee side

1) Lease assets

(a) Tangible fixed assets

Tangible fixed assets mainly consisted of branches and equipment.

(b) Intangible fixed assets

Intangible fixed assets were software.

2) Depreciation method of lease assets

Depreciation method of lease assets is reported in “(Significant accounting policies for preparing interim consolidated financial statements) 4. Accounting policies (4) Depreciation.”

(2) Lessor side

1) Breakdown of lease investment assets

	Millions of yen
	March 31, 2025		September 30, 2025
Lease receivables	¥	292,143	¥	282,420
Residual value		15,097		12,053
Unearned interest income		(76,041)		(73,635)
Total	¥	231,199	¥	220,839

2) The scheduled collections of lease payments receivable related to lease investment assets were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Within 1 year	¥	62,488	¥	54,807
More than 1 year to 2 years		29,003		56,002
More than 2 years to 3 years		43,807		14,989
More than 3 years to 4 years		9,981		34,648
More than 4 years to 5 years		51,132		30,225
More than 5 years		95,729		91,747
Total	¥	292,143	¥	282,420

—34—

2.	Operating leases

(1) Lessee side

Future minimum lease payments on operating leases which were not cancelable were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Due within 1 year	¥	37,326	¥	37,937
Due after 1 year		229,724		216,678
Total	¥	267,051	¥	254,615

(2) Lessor side

Future minimum lease payments on operating leases which were not cancelable were as follows:

	Millions of yen
	March 31, 2025		September 30, 2025
Due within 1 year	¥	206	¥	210
Due after 1 year		688		585
Total	¥	894	¥	796

—35—

(Notes to financial instruments)

Matters concerning fair value of financial instruments and breakdown by input level

The amounts on the interim consolidated balance sheet (the amounts on the consolidated balance sheet) and the fair value of financial instruments as well as the difference between them, and fair value by input level are as follows.

The amounts shown in the following tables do not include stocks with no market price, etc., and investments in partnerships (refer to Note 3).

The fair values of financial instruments are classified into the following three levels depending on the observability and significance of the input used in the fair value measurement.

Level 1: Fair value determined based on the (unadjusted) quoted price in an active market for the same asset or liability

Level 2: Fair value determined based on directly or indirectly observable inputs other than Level 1 inputs

Level 3: Fair value determined based on significant unobservable inputs

If multiple inputs with a significant impact are used for the fair value measurement of a financial instrument, the financial instrument is classified as the lowest priority level of fair value measurement in which each input belongs.

—36—

(1)	Financial assets and liabilities at fair value on the interim consolidated balance sheet(consolidated balance sheet)
	Millions of yen
---	---	---	---	---	---	---	---	---
	Consolidated balance sheet amount
March 31, 2025	Level 1		Level 2		Level 3		Total
Monetary claims bought	¥	—	¥	114,591	¥	381,139	¥	495,731
Trading assets		4,801,509		1,295,209		43,952		6,140,671
Money held in trust		—		32,272		—		32,272
Securities
Other securities^*1^		23,919,223		14,017,061		6,276		37,942,561
Stocks		2,870,342		795		—		2,871,138
Japanese government bonds		11,180,546		—		—		11,180,546
Japanese local government bonds		787,139		35,435		—		822,574
Japanese corporate bonds		—		1,884,079		6,276		1,890,356
Foreign stocks		1,527,602		220,785		—		1,748,387
Foreign bonds		7,078,505		10,346,238		0		17,424,744
Other		475,086		1,529,726		—		2,004,813
Total assets	¥	28,720,732	¥	15,459,135	¥	431,368	¥	44,611,236
Trading liabilities
Trading securities sold for short sales	¥	4,507,157	¥	328,309	¥	—	¥	4,835,466
Total liabilities	¥	4,507,157	¥	328,309	¥	—	¥	4,835,466
Derivative transactions^*2, 3^
Interest rate derivatives	¥	(12,073)	¥	(221,335)	¥	4,121	¥	(229,287)
Currency derivatives		2,496		(314,414)		20,476		(291,440)
Equity derivatives		14,522		119,839		4,086		138,449
Bond derivatives		123		304		—		428
Commodity derivatives		10		1,136		—		1,147
Credit derivative transactions		—		(9,086)		3,203		(5,883)
Total derivative transactions	¥	5,081	¥	(423,556)	¥	31,888	¥	(386,585)
*1	The amounts of investment trusts that fall under the classification of Other securities are included in “Other”<br>in the table above.
---	---
*2	The amounts collectively represent the derivative transactions which are recorded as “Trading assets,”<br>“Trading liabilities,” “Other assets” and “Other liabilities.” Debts and credits arising from derivative transactions are presented on a net basis, with a net debt presented in round brackets.
*3	As for derivative transactions applying hedge accounting, ¥(1,728,482) million was recorded on the consolidated<br>balance sheet. These were interest rate swap and other derivative transactions designated as hedging instruments for stabilizing cash flows of loans and bills discounted, etc., that were hedged items. The Company mainly applied deferred hedge<br>accounting for those derivative transactions.

—37—

September 30, 2025		Millions of yen
		Interim consolidated balance sheet amount
	Level 1			Level 2		Level 3		Total
Monetary claims bought		¥	—	¥	101,666	¥	356,924	¥	458,591
Trading assets			4,511,940		1,250,691		19,241		5,781,874
Money held in trust			—		34,637		—		34,637
Securities
Other securities^*1^			21,674,336		13,465,294		3,457		35,143,088
Stocks			3,145,819		819		—		3,146,638
Japanese government bonds			9,277,588		—		—		9,277,588
Japanese local government bonds			720,324		33,211		—		753,535
Japanese corporate bonds			—		1,738,709		3,457		1,742,167
Foreign stocks			1,498,921		273,876		—		1,772,798
Foreign bonds			6,737,493		10,353,776		0		17,091,270
Other			294,188		1,064,900		—		1,359,089
Total assets		¥	26,186,276	¥	14,852,290	¥	379,624	¥	41,418,191
Trading liabilities
Trading securities sold for short sales		¥	3,805,455	¥	382,028	¥	—	¥	4,187,483
Total liabilities		¥	3,805,455	¥	382,028	¥	—	¥	4,187,483
Derivative transactions^*2, 3^
Interest rate derivatives		¥	(10,960)	¥	(383,228)	¥	5,117	¥	(389,071)
Currency derivatives			(3,554)		(301,240)		25,579		(279,215)
Equity derivatives			(25)		2,324		3,343		5,643
Bond derivatives			(722)		(148)		737		(133)
Commodity derivatives			(90)		1,222		—		1,131
Credit derivative transactions			—		(12,556)		2,890		(9,665)
Total derivative transactions		¥	(15,353)	¥	(693,627)	¥	37,669	¥	(671,311)
*1	The amounts of investment trusts that fall under the classification of Other securities are included in<br>“Other” in the table above.
---	---
*2	The amounts collectively represent the derivative transactions which are recorded as “Trading assets,”<br>“Trading liabilities,” “Other assets” and “Other liabilities.” Debts and credits arising from derivative transactions are presented on a net basis, with a net debt presented in round brackets.
*3	As for derivative transactions applying hedge accounting, ¥(1,217,998) million was recorded on the interim<br>consolidated balance sheet.<br> <br>These were interest rate swap and other derivative transactions designated as hedging instruments for<br>stabilizing cash flows of loans and bills discounted, etc., that were hedged items. The Company mainly applied deferred hedge accounting for those derivative transactions.

—38—

(2)	Financial assets and liabilities which are not stated at fair value on the interim consolidated balancesheet (consolidated balance sheet)

Cash and due from banks, Call loans and bills bought, Receivables under resale agreements, Receivables under securities borrowing transactions, Foreign exchanges, Call money and bills sold, Payable under repurchase agreements, Payable under securities lending transactions, Commercial papers, Short-term bonds payable, and Due to trust account are not disclosed in the following tables since they are mostly short-term, and their fair values approximate their carrying amounts.

	Millions of yen
	Fair value								Consolidatedbalance sheetamount		Difference
March 31, 2025	Level 1		Level 2		Level 3		Total
Monetary claims bought^*^	¥	—	¥	—	¥	5,171,196	¥	5,171,196	¥	5,119,390	¥	51,806
Securities
Bonds classified as held-to-maturity		255,558		12,681		—		268,240		274,414		(6,174)
Loans and bills discounted										111,136,239
Reserve for possible loan losses^*^										(521,037)
		—		—		112,493,608		112,493,608		110,615,201		1,878,406
Lease receivables and investment<br>assets^*^		—		—		227,076		227,076		230,549		(3,473)
Total assets	¥	255,558	¥	12,681	¥	117,891,881	¥	118,160,121	¥	116,239,556	¥	1,920,565
Deposits	¥	—	¥	172,036,099	¥	—	¥	172,036,099	¥	171,498,651	¥	537,448
Negotiable certificates of deposit		—		17,262,189		—		17,262,189		17,175,391		86,798
Borrowed money		—		11,176,826		53,333		11,230,159		11,355,209		(125,049)
Bonds		—		11,342,431		1,863,908		13,206,339		13,352,392		(146,052)
Total liabilities	¥	—	¥	211,817,547	¥	1,917,241	¥	213,734,789	¥	213,381,644	¥	353,145
*	General reserves and special reserves corresponding to loans were deducted. The reserves for possible loan losses on<br>“Monetary claims bought” and “Lease receivables and investment assets” were deducted directly from consolidated balance sheet amounts since they were immaterial.
---	---

—39—

	Millions of yen
	Fair value								Interimconsolidatedbalance sheetamount		Difference
September 30, 2025	Level 1		Level 2		Level 3		Total
Monetary claims bought^*^	¥	—	¥	—	¥	5,494,519	¥	5,494,519	¥	5,429,120	¥	65,398
Securities
Bonds classified as held-to-maturity		1,668,877		25,642		—		1,694,519		1,710,238		(15,719)
Loans and bills discounted										113,126,523
Reserve for possible loan losses^*^										(535,899)
		—		—		114,095,537		114,095,537		112,590,624		1,504,912
Lease receivables and investment<br>assets^*^		—		—		219,326		219,326		220,169		(842)
Total assets	¥	1,668,877	¥	25,642	¥	119,809,383	¥	121,503,903	¥	119,950,153	¥	1,553,750
Deposits	¥	—	¥	170,037,597	¥	—	¥	170,037,597	¥	170,026,335	¥	11,262
Negotiable certificates of deposit		—		16,064,303		—		16,064,303		16,060,889		3,413
Borrowed money		—		10,153,054		82,301		10,235,355		10,349,249		(113,893)
Bonds		—		11,352,662		2,179,585		13,532,247		13,762,860		(230,613)
Total liabilities	¥	—	¥	207,607,618	¥	2,261,886	¥	209,869,504	¥	210,199,335	¥	(329,831)
*	General reserves and special reserves corresponding to loans were deducted. The reserves for possible loan<br>losses on “Monetary claims bought” and “Lease receivables and investment assets” were deducted directly from interim consolidated balance sheet amounts since they were immaterial.
---	---

—40—

(Note 1) Description of the valuation techniques and inputs used to measure fair value

Assets

Monetary claims bought

The fair values of subordinated trust beneficiary interests related to securitized housing loans among monetary claims bought are determined by estimating future cash flows using the probability of default, loss given default and prepayment rate, and assessing the value by deducting the value of senior beneficial interests, etc. from the value of underlying housing loans. The fair values of other transactions are, in principle, based on methods similar to the methods applied to Loans and bills discounted.

These transactions are mainly classified into Level 3.

Trading assets

The fair values of bonds and other securities held for trading purposes are, in principle, based on their market prices as of the six months ended September 30, 2025. The fair values of such bonds and other securities are mainly classified into Level 1 depending on the level of market activity. When fair value is determined based on either the prices quoted by the financial institutions, or future cash flows discounted using observable inputs such as interests, spreads, and others, they are classified into Level 2.

The fair values of monetary claims held for trading purposes are calculated based on the present values of estimated future cash flows. Those present values are discounted at the risk-free interest rate which takes into account credit risk, liquidity risk, etc. They are classified into Level 3.

Money held in trust

The fair values of money held in trust are, in principle, fair values of securities in trust property calculated by the same method for securities that the Company owns. They are classified into Level 2.

Securities

In principle, the fair values of stocks (including foreign stocks and listed investment trusts) are based on the market price as of the six months ended September 30, 2025. They are mainly classified into Level 1 depending on the level of market activity. The fair values of securities with market prices other than stocks are based on the market price as of the six months ended September 30, 2025. Japanese Government bonds, etc., are mainly classified into Level 1 and other bonds are classified into Level 2.

The fair values of privately-placed bonds with no market prices are based on the present value of estimated future cash flows, taking into account the borrower’s probability of default, loss given default, etc. Those present values are discounted by a rate comprising a risk-free interest rate with certain adjustments. However, the fair values of bonds, such as privately-placed bonds issued by bankrupt borrowers, effectively bankrupt borrowers, and potentially bankrupt borrowers are based on the bond’s book value after the deduction of the expected amount of a loss on the bond computed by using the same method applied to the estimation of a loan loss. The fair values of investment trusts with no market prices are based on the net asset value.

These transactions are mainly classified into Level 2.

Loans and bills discounted, Lease receivables and investment assets

Of these transactions, considering the characteristics of these transactions, the fair values of overdrafts with no specified repayment dates are their book values as they are considered to approximate their fair values.

For short-term transactions, fair values are also their book values as they are considered to approximate their fair values.

The fair values of long-term transactions are, in principle, based on the present value of estimated future cash flows taking into account the borrower’s probability of default, loss given default, etc. Those present values are discounted by a rate comprising a risk-free interest rate with certain adjustments. At certain consolidated subsidiaries of the Company, the fair values are calculated based on the present values of estimated future cash flows, which are computed based on the contractual interest rate. Those present values are discounted by a rate comprising a risk-free rate and a credit risk premium.

—41—

Regarding claims on bankrupt borrowers, effectively bankrupt borrowers and potentially bankrupt borrowers, expected losses on such claims are calculated based on either the expected recoverable amount from disposal of collateral or guarantees, or the present value of expected future cash flows. The fair value is approximated by the amount derived from the claims’ interim consolidated balance sheet amounts (consolidated balance sheets amounts) after deducting the allowance for doubtful accounts; therefore, this price is considered to be the fair value.

These transactions are mainly classified into Level 3.

Liabilities

Trading liabilities

The fair values of bonds sold for short sales and other securities for trading purposes are, in principle, based on their market prices as of the six months ended September 30, 2025. They are mainly classified into Level 1.

Deposits, Negotiable certificates of deposit

Out of these transactions, the fair values of demand deposits and deposits without maturity are their book values. The fair values of transactions with a short-term remaining maturity are also their book values, as their book values are regarded to approximate their fair values. The fair values of transactions with a long-term remaining maturity are, in principle, based on the present value of estimated future cash flows discounted by the interest rate assuming that the same type of deposit is newly accepted until the end of the remaining maturity.

These transactions are classified into Level 2.

Borrowed money, Bonds

The fair values of short-term transactions are their book values, as their book values are considered to approximate their fair values. For long-term transactions, their fair values are based on the present value of estimated future cash flows discounted using the refinancing rate applied to the same type of instruments for the remaining maturity.

For transactions with the price quoted by industry associations, etc., fair value is based on the amount calculated by using the published price data, yield data, etc.

These transactions are mainly classified into Level 2.

Derivative transactions

The fair values of listed derivatives are based on their closing prices. The fair values of over-the-counter derivative transactions are based on the present value of the future cash flows, option valuation models, etc., using inputs such as interest rate, foreign exchange rate, stock price, commodity price, etc.

Over-the-counter derivative transactions take into account the counterparty’s and the Company’s credit risks, and the liquidity risks of the unsecured lending funds. Listed derivative transactions are mainly classified into Level 1. Over-the-counter derivative transactions are classified into Level 2 if observable inputs are available or impact of unobservable inputs to the fair values is not significant. If the impact of unobservable inputs to the fair values is significant, they are classified into Level 3.

—42—

(Note 2)	Quantitative information about financial assets and liabilities measured and stated on the interim<br>consolidated balance sheet (consolidated balance sheet) at fair value and classified in Level 3

1) Quantitative information on significant unobservable inputs

March 31, 2025	Valuation technique	Significant unobservableinputs	Range
Monetary claims bought	Discounted cash flow	Probability of default	0.1% — 100.0%
		Loss given default	0.0% — 50.8%
		Prepayment rate	2.0% — 6.5%
Trading assets:	Option valuation model	Equity volatility	93.4%
	Discounted cash flow	Discount margin	9.3%
Securities:
Japanese corporate bonds	Discounted cash flow	Probability of default	7.6% — 100.0%
		Loss given default	0.0% — 44.5%
Foreign bonds	Discounted cash flow	Probability of default	100.0%
		Loss given default	40.0% — 71.2%
Derivative transactions:
Interest rate derivatives	Option valuation model	Correlation between interest rates	34.3% — 99.5%
		Correlation between interest rates and foreign exchange rates	14.1% — 52.4%
Currency derivatives	Option valuation model	Correlation between interest rates	29.5% — 99.5%
		Correlation between interest rates and foreign exchange rates	7.0% — 49.0%
		Foreign exchange rate volatility	11.4% — 13.2%
Equity derivatives	Option valuation model	Correlation between equities	50.9% — 70.0%
		Correlation between foreign exchange rates and equities	3.1%
		Equity volatility	17.9% — 71.0%
Credit derivatives	Credit default model	Correlation between foreign exchange rates and CDS* spread	17.5% — 30.0%
*	Credit Default Swap
---	---

—43—

September 30, 2025	Valuation technique	Significant unobservable<br><br><br>inputs	Range
Monetary claims bought	Discounted cash flow	Probability of default	0.1% — 100.0%
		Loss given default	0.0% — 50.8%
		Prepayment rate	2.0% — 6.5%
Trading assets:	Option valuation model	Equity volatility	52.2%
Securities:
Japanese corporate bonds	Discounted cash flow	Probability of default	7.6% — 100.0%
		Loss given default	0.0% — 44.5%
Foreign bonds	Discounted cash flow	Probability of default	100.0%
		Loss given default	40.0%
Derivative transactions:
Interest rate derivatives	Option valuation model	Correlation between interest rates	35.4% — 99.6%
		Correlation between interest rates and foreign exchange rates	16.6% — 53.4%
Currency derivatives	Option valuation model	Correlation between interest rates	30.8% — 99.6%
		Correlation between interest rates and foreign exchange rates	9.3% — 49.6%
		Foreign exchange rate volatility	10.0% — 11.8%
Equity derivatives	Option valuation model	Correlation between equities	49.0% — 68.8%
		Correlation between foreign exchange rates and equities	(2.8)%
		Equity volatility	0.5% — 69.4%
Bond derivatives	Option valuation model	Bond volatility	4.7% — 14.9%
Credit derivatives	Credit default model	Correlation between foreign exchange rates and CDS* spread	17.5% — 30.0%
*	Credit Default Swap
---	---

—44—

2) Reconciliation between the beginning and ending balance, and net unrealized gains (losses) recognized in the earnings of the period

March 31, 2025	Millions of yen
	Beginningbalance		*Earningsof theperiod^1^**		*Othercomprehensiveincome^2^**		Netamount ofpurchase,sale,issuanceandsettlement		*TransfertoLevel 3^3^**		*TransferfromLevel 3^4^**		Endingbalance		Net unrealizedgains (losses)on financialassets andliabilities heldat consolidatedbalance sheetdate amongtheamountrecognized in theearnings of theperiod
Monetary claims bought	¥	419,099		¥ (11,844)	¥	(17,564)	¥	(8,550)	¥	—	¥	—	¥	381,139	¥	—
Trading assets		20,637		3,821		—		(27,256)		46,748		—		43,952		2,338
Securities
Other securities		12,976		92		504		(4,592)		960		(3,664)		6,276		59
Japanese corporate bonds		11,833		100		31		(2,984)		960		(3,664)		6,276		21
Foreign bonds		1,143		(8)		473		(1,608)		—		—		0		38
Derivative transactions
Interest rate		3,026		1,095		—		—		—		—		4,121		1,109
Currency		14,756		5,719		—		—		—		—		20,476		5,752
Equity		7,043		(1,781)		—		(1,175)		—		—		4,086		3,582
Bond		—		(1,549)		—		1,549		—		—		—		—
Credit derivative		1,772		1,430		—		—		—		—		3,203		1,447
Total	¥	479,313	¥	(3,014)	¥	(17,059)	¥	(40,025)	¥	47,708	¥	(3,664)	¥	463,257	¥	14,289
*1	The amounts shown in the table above are included in consolidated statements of income.
---	---
*2	The amounts shown in the table above are included in “Net unrealized gains (losses) on other<br>securities” under “Other comprehensive income (losses).”
---	---
*3	Transfer from Level 2 to Level 3 due in part to an increase in the impact on the fair value of unobservable<br>inputs for monetary claims and privately-placed bonds etc. The transfer was made at the beginning of the fiscal year ended March 31, 2025.
---	---
*4	Transfer from Level 3 to Level 2 due in part to a decrease in the impact on the fair value of unobservable<br>inputs for privately-placed bonds etc. The transfer was made at the beginning of the fiscal year ended March 31, 2025.
---	---

—45—

September 30, 2025	Millions of yen
	Beginningbalance		*Earningsof theperiod^1^**		*Othercomprehensiveincome^2^**		Netamount ofpurchase,sale,issuanceandsettlement		*TransfertoLevel 3^3^**		*TransferfromLevel 3^4^**		Endingbalance		Netunrealizedgains (losses)on financialassets andliabilitiesheld atinterimconsolidatedbalancesheetdateamongthe amountrecognized in theearnings ofthe period
Monetary claims bought	¥	381,139	¥	(4,207)	¥	(14,871)	¥	(5,135)	¥	—	¥	—	¥	356,924	¥	—
Trading assets		43,952		106		—		(27,645)		2,827		—		19,241		265
Securities
Other securities		6,276		1		(18)		(1,172)		459		(2,088)		3,457		1
Japanese corporate bonds		6,276		1		(18)		(1,172)		459		(2,088)		3,457		1
Foreign bonds		0		—		—		—		—		—		0		—
Derivative transactions
Interest rate		4,121		996		—		—		—		—		5,117		996
Currency		20,476		5,103		—		—		—		—		25,579		5,145
Equity		4,086		221		—		(964)		—		—		3,343		2,014
Bond		—		(2,086)		—		2,823		—		—		737		59
Credit derivative		3,203		(313)		—		—		—		—		2,890		(313)
Total	¥	463,257	¥	(177)	¥	(14,890)	¥	(32,094)	¥	3,287	¥	(2,088)	¥	417,294	¥	8,170
*1	The amounts shown in the table above are included in interim consolidated statements of income.
---	---
*2	The amounts shown in the table above are included in “Net unrealized gains (losses) on other securities” under<br>“Other comprehensive income (losses).”
*3	Transfer from Level 2 to Level 3 due in part to an increase in the impact on the fair value of unobservable inputs for<br>stocks and privately-placed bonds etc. The transfer was made at the beginning of the six months ended September 30, 2025.
*4	Transfer from Level 3 to Level 2 due in part to a decrease in the impact on the fair value of unobservable inputs for<br>privately-placed bonds etc. The transfer was made at the beginning of the six months ended September 30, 2025.

3) Description of the fair value valuation process

At the Group, the middle division establishes policies and procedures for the calculation of fair value, and the front division develops valuation models in accordance with such policies and procedures. The middle division verifies the reasonableness of the fair value valuation models, the inputs used, and the appropriateness of the classified fair value level of the calculated fair value.

Observable data is utilized as much as possible for the valuation model. If quoted prices obtained from third parties are used, those values are verified by comparison with results recalculated by the Group using the inputs for the valuation.

—46—

4) Description of the sensitivity of the fair value to changes in significant unobservable inputs

Probability of default

Probability of default represents the likelihood that the default will occur, and is calculated based on actual defaults in the past. A significant increase (decrease) in the default rate would result in a significant decrease (increase) in fair value.

Loss given default

Loss given default is the proportion of estimated losses in the event that a default occurs, relative to the total balance of bonds or loans and bills discounted, and is calculated based on actual defaults in the past. A significant increase (decrease) in loss given default would result in a significant decrease (increase) in fair value.

Prepayment rate

Prepayment rate is the proportion of the principal of securities that is expected to be paid before maturity in each period, and is calculated based on actual payment in the past. In general, a significant change in the prepayment rate would result in a significant decrease (increase) in fair value according to the contractual terms and conditions of financial instruments.

Volatility

Volatility is an indicator that represents the estimation of severity of change over a certain period in values of inputs and market values. Volatility is estimated based on actual results in the past, information derived from third parties and other analysis approach. Volatility is mainly used in valuation of derivatives that refer to potential changes of interest rate, foreign exchange rate, stock price, etc. In general, a significant increase (decrease) in volatility would result in a significant increase (decrease) in fair value.

Discount margin

Discount margin represents a spread used in discounting estimated future cash flows in the DCF method to reflect the uncertainty of the cash flows on fair value. In general, a significant increase (decrease) in the discount margin would result in a significant decrease (increase) in the fair value.

Correlation

Correlation is an indicator of the relationship between changes in variables such as interest rate, foreign exchange rate, Credit Default Swap (CDS) spread, and stock price. It is estimated based on actual past results and is mainly used in valuation techniques for complex derivatives, etc. In general, a significant change in correlation would result in a significant increase (decrease) in fair value according to the contractual terms and conditions of financial instruments.

—47—

(Note 3)	Interim consolidated balance sheet amounts (consolidated balance sheet amounts) of stocks with no market<br>prices, etc. and investments in partnership, etc. are as follows. In accordance with Paragraph 5 of the “Implementation Guidance on Disclosures about Fair Value of Financial Instruments” (ASBJ Guidance No.19, March 31, 2020) and<br>Paragraph 24-16 of “Guidance for Application of Fair Value Measurement”(ASBJ Guidance No.31, June 17, 2021), these amounts are not included in “Trading assets” and “Securities” stated on the tables disclosed<br>in “Matters concerning fair value of financial instruments and breakdown by input level.”
	Millions of yen
---	---	---	---	---
	March 31, 2025		September 30, 2025
Stocks with no market prices, etc.^*1,2^	¥	234,537	¥	282,506
Investments in partnership, etc.^*2^		502,861		522,417
Total	¥	737,399	¥	804,923
*1	Unlisted stocks are included in stocks with no market prices, etc.
---	---
*2	Unlisted stocks and investments in partnerships totaling ¥31,187 million and ¥14,202 million were<br>written off in the fiscal year ended March 31, 2025 and the six months ended September 30, 2025, respectively.

—48—

(Notes to securities)

The amounts shown in the following tables include negotiable certificates of deposit classified as “Cash and due from banks,” and beneficiary claims on loan trust classified as “Monetary claims bought,” in addition to “Securities” stated in the interim consolidated balance sheets (consolidated balance sheets).

1.	Bonds classified as held-to-maturity
		Millions of yen
---	---	---	---	---	---	---	---
March 31, 2025		Consolidated<br>balance sheet amount		Fair value		Net unrealizedgains (losses)
Bonds with unrealized gains:	Japanese government bonds	¥	—	¥	—	¥	—
	Japanese local government bonds		—		—		—
	Japanese corporate bonds		—		—		—
	Other		—		—		—
	Subtotal		—		—		—
Bonds with unrealized losses:	Japanese government bonds		109,550		107,656		(1,893)
	Japanese local government bonds		151,882		147,902		(3,980)
	Japanese corporate bonds		12,981		12,681		(300)
	Other		—		—		—
	Subtotal		274,414		268,240		(6,174)
Total		¥	274,414	¥	268,240	¥	(6,174)
		Millions of yen
---	---	---	---	---	---	---	---
September 30, 2025		Interim consolidatedbalance sheet amount		Fair value		Net unrealizedgains (losses)
Bonds with unrealized gains:	Japanese government bonds	¥	—	¥	—	¥	—
	Japanese local government bonds		—		—		—
	Japanese corporate bonds		—		—		—
	Other		—		—		—
	Subtotal		—		—		—
Bonds with unrealized losses:	Japanese government bonds		1,532,416		1,520,594		(11,822)
	Japanese local government bonds		151,890		148,283		(3,607)
	Japanese corporate bonds		12,984		12,695		(289)
	Other		12,947		12,947		—
	Subtotal		1,710,238		1,694,519		(15,719)
Total		¥	1,710,238	¥	1,694,519	¥	(15,719)

—49—

2.	Other securities
		Millions of yen
---	---	---	---	---	---	---	---
March 31, 2025		Consolidatedbalance sheet amount		Acquisition cost		Net unrealizedgains (losses)
Other securities with unrealized gains:	Stocks	¥	2,845,865	¥	879,921	¥	1,965,943
	Bonds		1,277,733		1,270,224		7,508
	Japanese government bonds		518,438		518,333		104
	Japanese local government bonds		10		10		0
	Japanese corporate bonds		759,284		751,881		7,403
	Other		11,237,738		9,665,072		1,572,666
	Subtotal		15,361,336		11,815,218		3,546,118
Other securities with unrealized losses:	Stocks		25,272		30,289		(5,016)
	Bonds		12,615,744		12,768,090		(152,345)
	Japanese government bonds		10,662,108		10,714,608		(52,500)
	Japanese local government bonds		822,564		864,374		(41,809)
	Japanese corporate bonds		1,131,071		1,189,107		(58,035)
	Other		11,047,661		11,630,394		(582,733)
	Subtotal		23,688,678		24,428,774		(740,095)
Total		¥	39,050,015	¥	36,243,992	¥	2,806,023
Note:	There were no net unrealized gains (losses) on other securities shown above for the fiscal year ended March 31, 2025<br>recognized in the earnings by applying fair value hedge accounting.
---	---
		Millions of yen
---	---	---	---	---	---	---	---
September 30, 2025		Interimconsolidatedbalance sheet amount		Acquisition cost		Net unrealizedgains (losses)
Other securities with unrealized gains:	Stocks	¥	3,135,638	¥	833,949	¥	2,301,689
	Bonds		3,716,101		3,708,531		7,570
	Japanese government bonds		3,020,147		3,019,873		274
	Japanese local government bonds		8		8		0
	Japanese corporate bonds		695,945		688,649		7,295
	Other		11,574,911		10,007,252		1,567,658
	Subtotal		18,426,651		14,549,732		3,876,918
Other securities with unrealized losses:	Stocks		11,000		12,514		(1,513)
	Bonds		8,057,189		8,217,164		(159,975)
	Japanese government bonds		6,257,440		6,310,165		(52,725)
	Japanese local government bonds		753,527		794,757		(41,230)
	Japanese corporate bonds		1,046,221		1,112,241		(66,019)
	Other		9,643,226		10,135,716		(492,489)
	Subtotal		17,711,416		18,365,395		(653,978)
Total		¥	36,138,068	¥	32,915,128	¥	3,222,939
Note:	There were no net unrealized gains (losses) on other securities shown above for the six months ended September 30, 2025<br>recognized in the earnings by applying fair value hedge accounting.
---	---

—50—

3.	Write-down of securities

Bonds classified as held-to-maturity and other securities (excluding other securities whose interim consolidated balance sheet amounts are not measured at fair value) are considered as impaired if the fair value decreases materially below the acquisition cost, and such decline is not considered as recoverable. The fair value is recognized as the interim consolidated balance sheet amount (consolidated balance sheet amount), and the amount of write-down is accounted for as valuation loss for the period. Valuation losses for the fiscal year ended March 31, 2025 and for the six months ended September 30, 2025 were ¥490 million and ¥526 million, respectively. The rule for determining the “material decline” is as follows and is based on the classification of issuers under the rules of self-assessment of assets.

Bankrupt/Effectively bankrupt/Potentially bankrupt issuers:	Fair value is lower than acquisition cost.
Issuers requiring caution:	Fair value is 30% or lower than acquisition cost.
Normal issuers:	Fair value is 50% or lower than acquisition cost.

Bankrupt issuers: Issuers that are legally bankrupt or formally declared bankrupt.

Effectively bankrupt issuers: Issuers that are not legally bankrupt but regarded as substantially bankrupt.

Potentially bankrupt issuers: Issuers that are not bankrupt now, but are perceived to have a high risk of falling into bankruptcy.

Issuers requiring caution: Issuers that are identified for close monitoring.

Normal issuers: Issuers other than the above 4 categories of issuers.

—51—

(Notes to money held in trust)

1.	Money held in trust classified as held-to-maturity

Fiscal year ended March 31, 2025

There were no corresponding transactions.

Six months ended September 30, 2025

There were no corresponding transactions.

2.	Other money held in trust (other than trading purpose and held-to-maturity)
	Millions of yen
---	---	---	---	---	---	---
March 31, 2025	Consolidated<br>balance sheet amount		Acquisition cost		Net unrealizedgains (losses)
Other money held in trust	¥	520	¥	520		—
	Millions of yen
---	---	---	---	---	---	---
September 30, 2025	Interim consolidatedbalance sheet amount		Acquisition cost		Net unrealizedgains (losses)
Other money held in trust	¥	521	¥	521		—

—52—

(Notes to net unrealized gains (losses) on other securities)

The breakdown of “Net unrealized gains (losses) on other securities” reported on the interim consolidated balance sheet (consolidated balance sheet) is as shown below:

March 31, 2025	Millions of yen
Net unrealized gains (losses)	¥	2,806,103
Other securities		2,806,103
Other money held in trust		—
(-) Deferred tax liabilities		788,158
Net unrealized gains (losses) on other securities (before following adjustments)		2,017,944
(-) Non-controlling interests		106,208
(+) The Company’s interest in net unrealized gains (losses) on valuation of other securities<br>held by equity method affiliates		19,098
Net unrealized gains (losses) on other securities	¥	1,930,834
Notes:	1.	There were no net unrealized gains (losses) on other securities shown above for the fiscal year ended March 31, 2025<br>recognized in the fiscal year’s earnings by applying fair value hedge accounting.
---	---	---
	2.	Net unrealized gains (losses) on other securities included foreign currency translation adjustments on foreign currency<br>denominated securities whose fair value was not recognized as consolidated balance sheet amount.
	3.	Non-controlling interests included equity acquired from non-controlling stockholders.
September 30, 2025	Millions of yen
---	---	---
Net unrealized gains (losses)	¥	3,222,723
Other securities		3,222,723
Other money held in trust		—
(-) Deferred tax liabilities		938,947
Net unrealized gains (losses) on other securities (before following adjustments)		2,283,775
(-) Non-controlling interests		107,987
(+) The Company’s interest in net unrealized gains (losses) on valuation of other securities<br>held by equity method affiliates		18,046
Net unrealized gains (losses) on other securities	¥	2,193,835
Notes:	1.	There were no net unrealized gains (losses) on other securities shown above for the six months ended September 30,<br>2025 recognized in the period’s earnings by applying fair value hedge accounting.
---	---	---
	2.	Net unrealized gains (losses) on other securities included foreign currency translation adjustments on foreign currency<br>denominated securities whose fair value was not recognized as consolidated balance sheet amount.
	3.	Non-controlling interests included equity acquired from non-controlling stockholders.

—53—

(Notes to derivative transactions)

1.	Derivative transactions to which the hedge accounting method was not applied

The following tables set forth the contract amount or the amount equivalent to the notional amount, fair value and valuation gains (losses) by type of derivative with respect to derivative transactions to which the hedge accounting method was not applied at March 31, 2025 and September 30, 2025. Contract amount does not indicate the market risk relating to derivative transactions.

(1) Interest rate derivatives

	Millions of yen
March 31, 2025	Contract amount				Fair value		Valuationgains (losses)
	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Interest rate futures:
Sold	¥	20,054,787	¥	5,668,067	¥	3,601	¥	3,601
Bought		64,258,953		8,171,815		(817)		(817)
Interest rate options:
Sold		28,259,600		9,383,425		(22,822)		(22,822)
Bought		98,859,073		18,793,820		18,306		18,306
Over-the-counter
Forward rate agreements:
Sold		18,573,211		2,885,194		8,792		8,792
Bought		20,854,430		4,378,015		(10,606)		(10,606)
Interest rate swaps:		1,106,745,248		892,943,943		(142,634)		(142,634)
Receivable fixed rate/payable floating rate		517,358,862		428,428,773		(13,295,680)		(13,295,680)
Receivable floating rate/payable fixed rate		525,509,264		418,670,151		13,135,859		13,135,859
Receivable floating rate/payable floating rate		63,664,402		45,634,299		17,816		17,816
Interest rate swaptions:
Sold		43,332,176		20,495,871		(476,629)		(476,629)
Bought		43,261,768		23,203,209		513,056		513,056
Caps:
Sold		83,735,172		36,642,145		(351,055)		(351,055)
Bought		21,461,901		13,695,402		85,774		85,774
Floors:
Sold		14,423,781		10,625,453		(24,184)		(24,184)
Bought		15,951,494		11,931,012		39,046		39,046
Other:
Sold		19,342,043		6,878,649		(99,290)		(99,290)
Bought		44,619,256		24,100,186		191,611		191,611
Total		/		/	¥	(267,849)	¥	(267,849)
Note:	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the<br>consolidated statements of income.
---	---

—54—

	Millions of yen
September 30, 2025	Contract amount				Fair value		Valuationgains (losses)
	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Interest rate futures:
Sold	¥	71,906,983	¥	20,693,415	¥	(4,862)	¥	(4,862)
Bought		97,542,088		14,571,951		752		752
Interest rate options:
Sold		35,119,113		7,143,177		(14,145)		(14,145)
Bought		94,085,882		13,359,852		7,119		7,119
Over-the-counter
Forward rate agreements:
Sold		21,323,391		1,958,518		(4,306)		(4,306)
Bought		24,773,666		3,967,326		4,288		4,288
Interest rate swaps:		1,149,712,079		896,032,104		(61,788)		(61,788)
Receivable fixed rate/payable floating rate		552,262,147		439,003,509		(11,307,255)		(11,307,255)
Receivable floating rate/payable fixed rate		555,309,112		424,903,632		11,226,393		11,226,393
Receivable floating rate/payable floating rate		41,927,199		31,913,343		17,444		17,444
Interest rate swaptions:
Sold		45,734,274		21,991,112		(415,446)		(415,446)
Bought		46,352,213		24,875,335		445,006		445,006
Caps:
Sold		87,838,414		38,938,503		(201,935)		(201,935)
Bought		22,139,483		11,846,463		49,135		49,135
Floors:
Sold		14,978,224		8,196,065		(17,214)		(17,214)
Bought		17,025,061		9,310,103		29,041		29,041
Other:
Sold		18,899,721		5,243,211		(59,248)		(59,248)
Bought		37,359,456		19,397,836		130,762		130,762
Total		/		/	¥	(112,841)	¥	(112,841)
Note:	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the<br>interim consolidated statements of income.
---	---

—55—

(2) Currency derivatives

	Millions of yen
March 31, 2025	Contract amount				Fair value		Valuationgains (losses)
	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Currency futures:
Sold	¥	615	¥	—	¥	0	¥	0
Bought		12,361		—		(93)		(93)
Over-the-counter
Currency swaps		123,868,425		96,131,685		1,492,251		365,159
Currency swaptions:
Sold		11,113		11,113		(34)		(34)
Bought		1,954,197		1,915,220		8,617		8,617
Forward foreign exchange		123,060,968		14,319,512		(332,756)		(332,756)
Currency options:
Sold		5,725,856		1,909,969		(223,837)		(223,837)
Bought		4,861,527		1,298,780		159,281		159,281
Total		/		/	¥	1,103,428	¥	(23,663)
Note:	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the<br>consolidated statements of income.
---	---
	Millions of yen
---	---	---	---	---	---	---	---	---
September 30, 2025	Contract amount				Fair value		Valuationgains (losses)
	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Currency futures:
Sold	¥	2,125	¥	—	¥	0	¥	0
Bought		51,265		—		(110)		(110)
Over-the-counter
Currency swaps		135,371,178		105,056,635		1,024,329		533,875
Currency swaptions:
Sold		14,659		14,659		4		4
Bought		1,875,701		1,816,392		5,728		5,728
Forward foreign exchange		139,656,581		17,423,763		(294,322)		(294,322)
Currency options:
Sold		7,461,206		2,057,607		(196,091)		(196,091)
Bought		6,208,559		1,495,332		123,014		123,014
Total		/		/	¥	662,552	¥	172,098
Note:	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the<br>interim consolidated statements of income.
---	---

—56—

(3) Equity derivatives

	Millions of yen
March 31, 2025	Contract amount				Fair value		Valuationgains (losses)
	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Equity price index futures:
Sold	¥	1,313,450	¥	—	¥	26,166	¥	26,166
Bought		557,302		—		(8,936)		(8,936)
Equity price index options:
Sold		187,731		20,450		(8,462)		(8,462)
Bought		144,495		19,800		5,406		5,406
Over-the-counter
Equity options:
Sold		80,698		201		(3,160)		(3,160)
Bought		119,125		4,695		7,466		7,466
Equity index forward contracts:
Sold		22,561		—		72		72
Bought		227,877		91		119,186		119,186
Equity price index swaps:
Receivable equity index/payable short-term floating rate		—		—		—		—
Receivable short-term floating rate/payable equity index		23,193		19,672		399		399
Other:
Sold		20,032		3,875		310		310
Bought		—		—		—		—
Total		/		/	¥	138,449	¥	138,449
Note:	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the<br>consolidated statements of income.
---	---

—57—

	Millions of yen
	Contract amount				Fair value			Valuationgains (losses)
September 30, 2025	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****	****	****
Equity price index futures:
Sold	¥	1,351,621	¥	1,851	¥	(10,027	)	¥	(10,027	)
Bought		580,469		—		8,883			8,883
Equity price index options:
Sold		187,796		27,400		(10,060	)		(10,060	)
Bought		161,762		23,600		11,982			11,982
Over-the-counter
Equity options:
Sold		86,012		100		(5,216	)		(5,216	)
Bought		107,609		3,108		7,965			7,965
Equity index forward contracts:
Sold		1,158		—		(344	)		(344	)
Bought		36,253		726		3,811			3,811
Equity price index swaps:
Receivable equity index/payable short-term floating rate		—		—		—			—
Receivable short-term floating rate/payable equity index		28,872		22,022		(548	)		(548	)
Other:
Sold		19,900		3,625		(898	)		(898	)
Bought		307		307		95			95
Total		/		/	¥	5,643		¥	5,643

Note: The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the interim consolidated statements of income.

—58—

(4) Bond derivatives

	Millions of yen
	Contract amount				Fair value		Valuationgains (losses)
March 31, 2025	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Bond futures:
Sold	¥	2,624,295	¥	67,031	¥	(7,441)	¥	(7,441)
Bought		2,766,606		43,202		7,534		7,534
Bond futures options:
Sold		15,356		—		(20)		(20)
Bought		11,962		—		51		51
Over-the-counter
Bond options:
Sold		124,165		—		(208)		(208)
Bought		124,165		—		513		513
Total		/		/	¥	428	¥	428

Note: The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the consolidated statements of income.

	Millions of yen
	Contract amount				Fair value		Valuationgains (losses)
September 30, 2025	Total		Over 1 year
Listed	****	****	****	****	****	****	****	****
Bond futures:
Sold	¥	2,180,882	¥	20,116	¥	5,689	¥	5,689
Bought		2,244,064		1,807		(6,417)		(6,417)
Bond futures options:
Sold		8,928		—		(6)		(6)
Bought		7,440		—		11		11
Over-the-counter
Bond options:
Sold		132,393		—		(666)		(666)
Bought		224,750		—		1,254		1,254
Total		/		/	¥	(133)	¥	(133)

Note: The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the interim consolidated statements of income.

—59—

(5) Commodity derivatives

	Millions of yen
	Contract amount
March 31, 2025	Total		Over 1 year		Fair value		Valuationgains (losses)
Listed	****	****	****	****	****	****	****	****
Commodity futures:
Sold	¥	42,257	¥	—	¥	429	¥	429
Bought		43,214		—		(419)		(419)
Over-the-counter
Commodity swaps:
Receivable fixed price/payable floating price		45,313		30,414		609		609
Receivable floating price/payable fixed price		39,294		24,838		520		520
Commodity options:
Sold		3,350		1,327		(6)		(6)
Bought		1,681		614		12		12
Total		/		/	¥	1,147	¥	1,147
Notes:	1.	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the consolidated<br>statements of income.
---	---	---
	2.	Underlying assets of commodity derivatives were fuels and metals.
	Millions of yen
---	---	---	---	---	---	---	---	---
	Contract amount
September 30, 2025	Total		Over 1 year		Fair value		Valuationgains (losses)
Listed	****	****	****	****	****	****	****	****
Commodity futures:
Sold	¥	57,163	¥	—	¥	(223)	¥	(223)
Bought		63,165		—		133		133
Over-the-counter
Commodity swaps:
Receivable fixed price/payable floating price		66,991		45,712		92		92
Receivable floating price/payable fixed price		61,438		41,730		1,058		1,058
Commodity options:
Sold		3,559		1,875		15		15
Bought		2,936		1,543		56		56
Total		/		/	¥	1,131	¥	1,131
Notes:	1.	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the interim<br>consolidated statements of income.
---	---	---
	2.	Underlying assets of commodity derivatives were fuels and metals.

—60—

(6)	Credit derivative transactions
	Millions of yen
---	---	---	---	---	---	---	---	---
	Contract amount
March 31, 2025	Total		Over 1 year		Fair value		Valuationgains (losses)
Over-the-counter
Credit default options:
Sold	¥	1,389,807	¥	1,118,794	¥	22,737	¥	22,737
Bought		2,126,702		1,850,091		(28,620)		(28,620)
Total		/		/	¥	(5,883)	¥	(5,883)
Notes:	1.	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the consolidated<br>statements of income.
---	---	---
	2.	“Sold” represents transactions in which the credit risk was accepted; “Bought” represents<br>transactions in which the credit risk was transferred.
	Millions of yen
---	---	---	---	---	---	---	---	---
	Contract amount
September 30, 2025	Total		Over 1 year		Fair value		Valuationgains (losses)
Over-the-counter
Credit default options:
Sold	¥	1,472,786	¥	1,260,053	¥	25,046	¥	25,046
Bought		2,397,216		2,201,258		(34,711)		(34,711)
Total		/		/	¥	(9,665)	¥	(9,665)
Notes:	1.	The above transactions were valued at fair value, and the valuation gains (losses) were accounted for in the interim<br>consolidated statements of income.
---	---	---
	2.	“Sold” represents transactions in which the credit risk was accepted; “Bought” represents<br>transactions in which the credit risk was transferred.

—61—

2. Derivative transactions to which the hedge accounting method was applied

The following tables set forth the contract amount or the amount equivalent to the notional amount and fair value by type of derivative and hedge accounting method with respect to derivative transactions to which the hedge accounting method was applied at March 31, 2025 and September 30, 2025. Contract amount does not indicate the market risk relating to derivative transactions.

(1) Interest rate derivatives

March 31, 2025			Millions of yen
Hedge accounting method	Type of derivative	Principal items hedged	Contract amount
			Total		Over 1 year		Fair value
Deferral hedge method	Interest rate futures:	Interest-earning/bearing financial assets/liabilities such as loans and bills discounted, other securities, deposits and negotiable certificates of deposit
	Sold		¥	5,999,652	¥	5,986,074	¥	(7,810)
	Bought			4,784,960		2,990,600		(2,631)
	Interest rate swaps:
	Receivable fixed rate/<br><br><br>payable floating rate			45,717,816		39,430,733		(761,940)
	Receivable floating rate/<br><br><br>payable fixed rate			24,175,237		23,069,348		451,079
	Receivable floating rate/<br><br><br>payable floating rate			517,660		92,660		5,004
	Interest rate swaptions:
	Sold			207,846		207,846		(34,925)
	Bought			—		—		—
Recognition of gain or loss on the hedged items	Interest rate swaps:	Loans and bills discounted, deposits
	Receivable fixed rate/<br><br><br>payable floating rate			129,315		—		(153)
	Receivable floating rate/<br><br><br>payable fixed rate			786,671		656,700		17,764
Special treatment for interest rate swaps	Interest rate swaps:	Borrowed money
	Receivable floating rate/<br><br><br>payable fixed rate			95,623		86,902		(Note 2)
	Total			/		/	¥	(333,612)
Notes:	1.	The Company mainly applied deferred hedge accounting stipulated in JICPA Industry Committee Practical Guideline No.<br>24.
---	---	---
	2.	Interest rate swap amounts measured by the special treatment for interest rate swaps were treated with the borrowed money<br>that was subject to the hedge. Therefore, such a fair value was included in the fair value of the relevant transaction subject to the hedge stated in the (Notes to financial instruments).

—62—

September 30, 2025			Millions of yen
Hedge accounting method	Type of derivative	Principal items hedged	Contract amount
			Total		Over 1 year		Fair value
Deferral hedge method	Interest rate futures:	Interest-earning/bearing financial assets/liabilities such as loans and bills discounted, other securities, deposits and negotiable certificates of deposit
	Sold		¥	748,652	¥	745,652	¥	124
	Bought			1,041,670		—		(28)
	Interest rate swaps:
	Receivable fixed rate/<br><br><br>payable floating rate			46,351,762		35,069,203		(724,866)
	Receivable floating rate/<br><br><br>payable fixed rate			24,799,894		21,070,909		465,118
	Receivable floating rate/<br><br><br>payable floating rate			100,909		98,003		3,471
	Interest rate swaptions:
	Sold			206,845		206,845		(32,622)
	Bought			—		—		—
Recognition of gain or loss on the hedged items	Interest rate swaps:	Loans and bills discounted, deposits
	Receivable fixed rate/<br><br><br>payable floating rate			398,952		—		(177)
	Receivable floating rate/<br><br><br>payable fixed rate			765,470		639,571		12,751
Special treatment for interest rate swaps	Interest rate swaps:	Borrowed money
	Receivable floating rate/<br><br><br>payable fixed rate			96,113		71,870		(Note 2)
	Total			/		/	¥	(276,229)
Notes:	1.	The Company mainly applied deferred hedge accounting stipulated in JICPA Industry Committee Practical Guideline No.<br>24.
---	---	---
	2.	Interest rate swap amounts measured by the special treatment for interest rate swaps were treated with the borrowed money<br>that was subject to the hedge. Therefore, such a fair value was included in the fair value of the relevant borrowed money stated in the (Notes to financial instruments).

—63—

(2) Currency derivatives

March 31, 2025			Millions of yen
Hedge accounting method	Type of derivative	Principal items hedged	Contract amount
			Total		Over 1 year		Fair value
Deferral hedge method	Currency swaps	Foreign currency denominated loans and bills discounted, other securities, deposits, foreign currency exchange, etc.	¥	13,883,447	¥	8,995,914	¥	(1,374,153)
	Forward foreign<br> <br>exchange			4,884,443		545		(19,926)
Recognition of gain or loss on the hedged items	Currency swaps	Loans and bills discounted, other securities		38,046		33,389		(789)
	Total			/		/	¥	(1,394,869)

Note: The Company mainly applied deferred hedge accounting stipulated in JICPA Industry Committee Practical Guideline No. 25.

September 30, 2025			Millions of yen
Hedge accounting method	Type of derivative	Principal items hedged	Contract amount
			Total		Over 1 year		Fair value
Deferral hedge method	Currency swaps	Foreign currency denominated loans and bills discounted, other securities, deposits, foreign currency exchange, etc.	¥	12,033,357	¥	9,047,753	¥	(946,548)
	Forward foreign<br> <br>exchange			4,407,961		537		7,732
Recognition of gain or loss on the hedged items	Currency swaps	Loans and bills discounted, other securities		37,181		35,356		(2,953)
	Total			/		/	¥	(941,768)

Note: The Company mainly applied deferred hedge accounting stipulated in JICPA Industry Committee Practical Guideline No. 25.

—64—

(Notes to asset retirement obligations)

Fiscal year ended March 31, 2025

There was no information to be disclosed since the total amount of asset retirement obligations was immaterial.

Six months ended September 30, 2025

There was no information to be disclosed since the total amount of asset retirement obligations was immaterial.

(Notes to real estate for rent)

Fiscal year ended March 31, 2025

There was no significant information to be disclosed.

Six months ended September 30, 2025

There was no significant information to be disclosed.

—65—

(Revenue recognition)

Information on breakdown of revenues from contracts with customers.

	Millions of yen
Six months ended September 30	2024		2025
Ordinary income	¥	5,276,938	¥	5,205,887
Fees and commissions		905,938		983,620
Deposits and loans		151,031		171,807
Remittances and transfers		78,756		80,341
Securities-related business		131,182		143,619
Agency		4,283		4,219
Safe deposits		2,043		1,865
Guarantees		44,518		47,521
Credit card business		231,193		249,564
Investment trusts		95,058		100,375
Others		167,872		184,304
Note:	Fees and commissions obtained through Deposits and loans principally arise in the Wholesale Business Unit and<br>the Global Business Unit, Remittances and transfers principally arise in the Wholesale Business Unit, the Retail Business Unit, and the Global Business Unit, Securities-related business principally arise in the Wholesale Business Unit, the Retail<br>Business Unit, and the Global Business Unit, Credit card business principally arise in the Retail Business Unit, and Investment trusts principally arise in the Retail Business Unit and Head office account and others. Income based on<br>“Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019) is also included in the table above.
---	---

—66—

(Notes to segment and other related information)

[Segment information]

1.	Summary of reportable segment

The Group’s reportable segment is defined as an operating segment for which discrete financial information is available and reviewed by the Board of Directors and the Company’s Management Committee regularly in order to make decisions about resources to be allocated to the segment and assess its performance.

The businesses operated by each business unit are as follows:

Wholesale Business Unit:	Business to deal with domestic medium-to-large-sized and small-to- medium-sized corporate customers
Retail Business Unit:	Business to deal with mainly domestic individual customers
Global Business Unit:	Business to deal with international (including Japanese) corporate customers in overseas countries
Global Markets Business Unit:	Business to deal with financial market
Head office account:	Business other than businesses above
2.	Method of calculating profit and loss amount by reportable segment
---	---

Accounting methods applied to the reported business segment are the same as those described in “(Significant accounting policies for preparing interim consolidated financial statements).” In case several business units cooperate for transactions, profit and loss, and expenses related to the transactions are recognized in the business units cooperating for the transactions and those amounts are calculated in accordance with internal managerial accounting policy.

The Company does not assess assets by business segments.

—67—

3.	Information on profit and loss amount by reportable segment
	Millions of yen
---	---	---	---	---	---	---	---	---	---	---	---	---
Six months ended September 30, 2024	WholesaleBusinessUnit		RetailBusinessUnit		GlobalBusinessUnit		GlobalMarketsBusinessUnit		Head officeaccount andothers		Total
Consolidated gross profit	¥	441,200	¥	668,400	¥	643,900	¥	362,600	¥	(70,843)	¥	2,045,257
General and administrative expenses		(163,100)		(541,800)		(426,200)		(93,900)		52,253		(1,172,747)
Others		60,100		2,200		44,600		16,800		(77,976)		45,724
Consolidated net business profit	¥	338,200	¥	128,800	¥	262,300	¥	285,500	¥	(96,566)	¥	918,234
Notes:	1.	Figures shown in the parenthesis represent the loss.
---	---	---
	2.	“Others” includes equity in profit and loss of affiliates and cooperated profit and loss based on internal<br>managerial accounting.
	3.	“Head office account and others” includes profit or loss to be eliminated as inter-segment<br>transactions.
	Millions of yen
---	---	---	---	---	---	---	---	---	---	---	---	---
Six months ended September 30, 2025	WholesaleBusinessUnit		RetailBusinessUnit		GlobalBusinessUnit		GlobalMarketsBusinessUnit		Head officeaccountandothers		Total
Consolidated gross profit	¥	585,700	¥	729,400	¥	735,000	¥	333,500	¥	(84,814)	¥	2,298,786
General and administrative expenses		(198,700)		(552,700)		(485,400)		(106,200)		114,213		(1,228,787)
Others		75,100		2,600		92,500		19,000		(111,139)		78,061
Consolidated net business profit	¥	462,100	¥	179,300	¥	342,100	¥	246,300	¥	(81,740)	¥	1,148,060
Notes:	1.	Figures shown in the parenthesis represent the loss.
---	---	---
	2.	“Others” includes equity in profit and loss of affiliates and cooperated profit and loss based on internal<br>managerial accounting.
	3.	“Head office account and others” includes profit or loss to be eliminated as inter-segment<br>transactions.

—68—

4.	Difference between total amount of consolidated net business profit by reportable segment and ordinaryprofit on interim consolidated statements of income (adjustment of difference)
Six months ended September 30, 2024	Millions of yen
---	---	---
Consolidated net business profit	¥	918,234
Other ordinary income (excluding equity in gains of affiliates)		353,540
Other ordinary expenses		(241,302)
Ordinary profit on interim consolidated statements of income	¥	1,030,472
Note:	Figures shown in the parenthesis represent the loss.
---	---
Six months ended September 30, 2025	Millions of yen
---	---	---
Consolidated net business profit	¥	1,148,060
Other ordinary income (excluding equity in gains of affiliates)		320,648
Other ordinary expenses		(190,585)
Ordinary profit on interim consolidated statements of income	¥	1,278,123
Note:	Figures shown in the parenthesis represent the loss.
---	---

[Related information]

Six months ended September 30, 2024

1.	Information on each service

There was no information to be disclosed since information on each service was similar to the segment information.

2.	Geographic information
(1)	Ordinary income
---	---
Millions of yen
---	---	---	---	---	---	---	---	---
Japan	The Americas		Europe and Middle East		Asia and Oceania		Total
¥ 2,409,883	¥	1,303,946	¥	734,187	¥	828,922	¥	5,276,938
Notes:	1.	Consolidated ordinary income is presented as a counterpart of sales of companies in other industries.
---	---	---
	2.	Ordinary income from transactions of the Company and its domestic consolidated banking subsidiaries (excluding overseas<br>branches) and other domestic consolidated subsidiaries is classified as “Japan.” Ordinary income from transactions of overseas branches of domestic consolidated banking subsidiaries and overseas consolidated subsidiaries is classified as<br>“The Americas,” “Europe and Middle East,” and “Asia and Oceania,” based on their locations and in consideration of their geographic proximity and other factors.
	3.	The Americas includes the United States, Brazil, Canada, and others; Europe and Middle East includes the United Kingdom,<br>Germany, and others; Asia and Oceania includes China, Singapore, Indonesia, and others except Japan.
	4.	Ordinary income in the United States, which is included in “The Americas” segment, amounted to ¥1,188,439<br>million.
(2)	Tangible fixed assets
---	---
Millions of yen
---	---	---	---	---	---	---	---	---
Japan	The Americas		Europe and Middle East		Asia and Oceania		Total
¥ 849,013	¥	46,032	¥	39,652	¥	61,308	¥	996,006

—69—

3.	Information on major customers

There were no major customers individually accounting for 10% or more of ordinary income reported on the interim consolidated statements of income.

Six months ended September 30, 2025

1.	Information on each service

There was no information to be disclosed since information on each service was similar to the segment information.

2.	Geographic information

(1) Ordinary income

Millions of yen
Japan	The Americas		Europe and Middle East		Asia and Oceania		Total
¥ 2,383,877	¥	1,274,168	¥	732,908	¥	814,932	¥	5,205,887
Notes:	1.	Consolidated ordinary income is presented as a counterpart of sales of companies in other industries.
---	---	---
	2.	Ordinary income from transactions of the Company and its domestic consolidated banking subsidiaries (excluding overseas<br>branches) and other domestic consolidated subsidiaries is classified as “Japan.” Ordinary income from transactions of overseas branches of domestic consolidated banking subsidiaries and overseas consolidated subsidiaries is classified as<br>“The Americas,” “Europe and Middle East,” and “Asia and Oceania,” based on their locations and in consideration of their geographic proximity and other factors.
	3.	The Americas includes the United States, Brazil, Canada, and others; Europe and Middle East includes the United Kingdom,<br>Germany, and others; Asia and Oceania includes China, Singapore, Indonesia, and others except Japan.
	4.	Ordinary income in the United States, which is included in “The Americas” segment, amounted to ¥1,146,168<br>million.

(2) Tangible fixed assets

Millions of yen
Japan	The Americas		Europe and Middle East		Asia and Oceania		Total
¥ 855,716	¥	62,500	¥	37,169	¥	64,461	¥	1,019,848
3.	Information on major customers
---	---

There were no major customers individually accounting for 10% or more of ordinary income reported on the interim consolidated statements of income.

—70—

[Information on impairment loss for fixed assets by reportable segment]

The Company does not allocate impairment loss for fixed assets to the reportable segment.

Impairment loss for the six months ended September 30, 2024 was ¥298 million.

Impairment loss for the six months ended September 30, 2025 was ¥1,830 million.

[Information on amortization of goodwill and unamortized balance by reportable segment]

Six months ended September 30, 2024	Millions of yen
	Wholesale<br>Business<br>Unit		Retail<br>Business<br>Unit		Global<br>Business<br>Unit		Global Markets<br>Business<br>Unit		Head office<br>account andothers		Total
Amortization of goodwill	¥	—	¥	1,999	¥	6,719	¥	—	¥	4,847	¥	13,566
Unamortized balance		—		28,011		164,637		—		52,596		245,245
Six months ended September 30, 2025	Millions of yen
	Wholesale<br>Business<br>Unit		Retail<br>Business<br>Unit		Global<br>Business<br>Unit		Global Markets<br>Business<br>Unit		Head office<br>account andothers		Total
Amortization of goodwill	¥	—	¥	1,530	¥	6,601	¥	—	¥	4,847	¥	12,980
Unamortized balance		—		19,179		148,544		—		42,901		210,625

[Information on gains on negative goodwill by reportable segment]

Six months ended September 30, 2024

There were no corresponding transactions.

Six months ended September 30, 2025

There were no corresponding transactions.

—71—

(Business combinations)

There were no significant business combinations to be disclosed.

(Per share data)

1.	Net assets per share and the calculation method
	Millions of yen, except per share data and number of shares
---	---	---	---	---
	March 31, 2025		September 30, 2025
Net assets per share	¥	3,795.62	¥	3,942.52
[The calculation method]
Net assets		14,841,509		15,304,259
Amounts excluded from net assets		138,073		138,494
Stock acquisition rights		767		645
Non-controlling interests		137,306		137,849
Net assets attributable to common stock at the end of the period	¥	14,703,435	¥	15,165,764
Number of common stock at the end of the period used for the calculation of net assets per share<br>(in thousands)		3,873,793		3,846,718
2.	Earnings per share and earnings per share (diluted) and each calculation method
---	---
	Millions of yen, except per share data and number of shares
---	---	---	---	---	---
Six months ended September 30	2024			2025
(i) Earnings per share	¥	184.77		¥	242.03
[The calculation method]
Profit attributable to owners of parent		725,172			933,505
Amount not attributable to common stockholders		—			—
Profit attributable to owners of parent attributable to common stock		725,172			933,505
Average number of common stock during the period (in thousands)		3,924,762			3,856,964
(ii) Earnings per share (diluted)	¥	184.72		¥	241.98
[The calculation method]
Adjustment for profit attributable to owners of parent		(2	)		—
Adjustment of dilutive shares issued by consolidated subsidiaries and equity method<br>affiliates		(2	)		—
Increase in the number of common stock (in thousands)		987			788
Stock acquisition rights (in thousands)		987			788
Outline of dilutive shares which were not included in the calculation of “Earnings per share<br>(diluted)” because they do not have dilutive effect:		—			—
Notes:	1.	On October 1, 2024, the Company executed a three-for-one split of its common stock, with a record date of<br>September 30, 2024. “Earnings per share” and “Earnings per share (diluted)” were calculated based on the assumption that the stock split had implemented at the beginning of the previous fiscal year.
---	---	---
	2.	The Company has introduced a “Stock grant trust for employees” (the “Trust”). The shares of the<br>Company held by the Trust were included in the number of treasury stocks to be deducted for the calculation of “Net assets per share,” “Earnings per share,” and “Earnings per share (diluted).”<br><br><br>The number of treasury stocks at the end of the period, deducted for the calculation of “Net assets per share,” was 446,000 shares<br>and 582,000 shares for the fiscal year ended March 31, 2025 and the six months ended September 30, 2025, respectively. The average numbers of treasury stocks during the period, deducted for the calculation of “Earnings per share” and<br>“Earnings per share (diluted),” were 372,000 shares and 562,000 shares for the six months ended September 30, 2024 and September 30, 2025, respectively.

—72—

(Significant subsequent events)

Six months ended September 30, 2025

1. Repurchase and Cancellation of Own Shares

At the Board of Directors held on November 14, 2025, the Company resolved to repurchase its own shares under Article 8 of the Articles of Incorporation pursuant to Paragraph 1 of Article 459 of the Companies Act and cancel the repurchased shares pursuant to Article 178 of the Companies Act.

(1)	Reason for the Repurchase of Own Shares

The Company will proceed with a flexible repurchase of its own shares in order to enhance shareholder returns and improve capital efficiency.

(2)	Outline of the Repurchase

1) Type of shares to be repurchased: Common stock

2) Aggregate number of shares to be repurchased: Up to 50,000,000 shares (Equivalent to 1.3% of the number of shares issued (excluding treasury stock))

3) Aggregate amount to be repurchased: Up to JPY 150,000,000,000

4) Repurchase period: From November 17, 2025 to January 31, 2026

5) Repurchase method: Market purchases based on a discretionary dealing contract regarding repurchase of its own shares

(3)	Outline of the Cancellation

1) Type of shares to be cancelled: Common stock

2) Number of shares to be cancelled: All of the shares repurchased as stated in (2) above

3) Scheduled cancellation date: February 20, 2026

(Others)

Not applicable.

—73—

(Non-consolidated financial statements)

1. Non-consolidated balance sheets

	Millions of yen				Millions of<br>U.S. dollars
	March 31, 2025		September 30,2025		September 30,2025
Assets:
Current assets
Cash and due from banks	¥	530,273	¥	435,498	$	2,927
Current portion of long-term loans receivables from subsidiaries and affiliates		1,176,962		1,991,991		13,386
Other current assets		120,468		126,991		853
Total current assets		1,827,704		2,554,481		17,166
Fixed assets
Tangible fixed assets		67,822		67,458		453
Intangible fixed assets		16,162		17,127		115
Investments and other assets		18,439,711		18,375,721		123,484
Investments in subsidiaries and affiliates		7,088,989		7,088,357		47,634
Long-term loans receivable from subsidiaries and affiliates		11,239,540		11,107,770		74,644
Other investments and other assets		111,181		179,593		1,207
Total fixed assets		18,523,696		18,460,307		124,053
Total assets	¥	20,351,401	¥	21,014,788	$	141,219
Liabilities:
Current liabilities
Short-term borrowings	¥	1,679,650	¥	1,679,650	$	11,287
Income taxes payable		16		8		0
Reserve for employee bonuses		1,246		1,084		7
Reserve for executive bonuses		624		—		—
Current portion of bonds		1,238,587		2,082,046		13,991
Current portion of long-term borrowings		8,000		14,434		97
Other current liabilities		99,529		110,350		742
Total current liabilities		3,027,653		3,887,574		26,124
Fixed liabilities
Bonds		10,505,406		10,324,874		69,383
Long-term borrowings		425,100		438,830		2,949
Other fixed liabilities		8,332		32,311		217
Total fixed liabilities		10,938,839		10,796,017		72,549
Total liabilities		13,966,493		14,683,591		98,673
Net assets:
Stockholders’ equity
Capital stock		2,345,960		2,346,888		15,771
Capital surplus
Capital reserve		1,567,436		1,568,364		10,539
Total capital surplus		1,567,436		1,568,364		10,539
Retained earnings
Other retained earnings
Voluntary reserve		30,420		30,420		204
Retained earnings brought forward		2,459,812		2,359,387		15,855
Total retained earnings		2,490,232		2,389,807		16,059
Treasury stock		(38,512)		(38,638)		(260)
Total stockholders’ equity		6,365,117		6,266,421		42,110
Valuation and translation adjustments
Net unrealized gains (losses) on other securities		19,022		64,130		431
Total valuation and translation adjustments		19,022		64,130		431
Stock acquisition rights		767		645		4
Total net assets		6,384,907		6,331,197		42,546
Total liabilities and net assets	¥	20,351,401	¥	21,014,788	$	141,219

—74—

2.	Non-consolidated statements of income
	Millions of yen				Millions ofU.S. dollars
---	---	---	---	---	---	---
Six months ended September 30	2024		2025		2025
Operating income:
Dividends on investments in subsidiaries and affiliates	¥	609,993	¥	263,711	$	1,772
Fees and commissions received from subsidiaries and affiliates		10,978		10,597		71
Interests on loans receivable from subsidiaries and affiliates		185,115		211,482		1,421
Total operating income		806,087		485,790		3,265
Operating expenses:
General and administrative expenses		29,472		31,058		209
Interest on bonds		172,584		198,868		1,336
Interest on long-term borrowings		10,114		9,249		62
Total operating expenses		212,171		239,176		1,607
Operating profit		593,915		246,614		1,657
Non-operating income		1,084		1,871		13
Non-operating expenses		10,879		14,467		97
Ordinary profit		584,119		234,018		1,573
Extraordinary loss		789		1,532		10
Income before income taxes		583,330		232,486		1,562
Income taxes-current		(5,971)		(7,330)		(49)
Income taxes-deferred		(666)		(232)		(2)
Income taxes		(6,637)		(7,563)		(51)
Net income	¥	589,967	¥	240,049	$	1,613

—75—

3.	Non-consolidated statements of changes in net assets
	Millions of yen
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Stockholders’ equity
			Capital surplus						Retained earnings
	Capitalstock		Capitalreserve		Other capitalsurplus		Total capitalsurplus		Other retained earnings				Total
Six months ended September 30, 2024				Voluntaryreserve					Retainedearningsbrought forward
Balance at the beginning of the period	¥	2,344,038	¥	1,565,514	¥	—	¥	1,565,514	¥	30,420	¥	2,282,340	¥	2,312,760
Changes in the period:
Issuance of new stock		1,922		1,922				1,922
Cash dividends												(177,382)		(177,382)
Net income												589,967		589,967
Purchase of treasury stock
Disposal of treasury stock						(339)		(339)
Cancellation of treasury stock						(234,659)		(234,659)
Transfer from retained earnings to capital surplus						234,999		234,999				(234,999)		(234,999)
Net changes in items other than stockholders’ equity in the period
Net changes in the period		1,922		1,922		—		1,922		—		177,586		177,586
Balance at the end of the period	¥	2,345,960	¥	1,567,436	¥	—	¥	1,567,436	¥	30,420	¥	2,459,927	¥	2,490,347
	Millions of yen
---	---	---	---	---	---	---	---	---	---	---
	Stockholders’ equity				Valuation andtranslationadjustments		Stockacquisitionrights		Totalnet assets
Six months ended September 30, 2024	Treasurystock		Total		Netunrealizedgains (losses)on othersecurities
Balance at the beginning of the period	¥	(167,671)	¥	6,054,642	¥	19,758	¥	931	¥	6,075,333
Changes in the period:
Issuance of new stock				3,844						3,844
Cash dividends				(177,382)						(177,382)
Net income				589,967						589,967
Purchase of treasury stock		(101,576)		(101,576)						(101,576)
Disposal of treasury stock		486		147						147
Cancellation of treasury stock		234,659		—						—
Transfer from retained earnings to capital surplus				—						—
Net changes in items other than stockholders’ equity in the period						(13,624)		(141)		(13,765)
Net changes in the period		133,569		315,000		(13,624)		(141)		301,235
Balance at the end of the period	¥	(34,101)	¥	6,369,643	¥	6,134	¥	790	¥	6,376,568

—76—

	Millions of yen
	Stockholders’ equity
			Capital surplus						Retained earnings
	Capitalstock		Capitalreserve		Othercapitalsurplus		Total capitalsurplus		Other retained earnings				Total
Six months ended September 30, 2025				Voluntaryreserve					Retained earningsbrought forward
Balance at the beginning of the period	¥	2,345,960	¥	1,567,436	¥	—	¥	1,567,436	¥	30,420	¥	2,459,812	¥	2,490,232
Changes in the period:
Issuance of new stock		927		927				927
Cash dividends												(240,202)		(240,202)
Net income												240,049		240,049
Purchase of treasury stock
Disposal of treasury stock						(280)		(280)
Cancellation of treasury stock						(99,990)		(99,990)
Transfer from retained earnings to capital surplus						100,271		100,271				(100,271)		(100,271)
Net changes in items other than stockholders’ equity in the period
Net changes in the period		927		927		—		927		—		(100,425)		(100,425)
Balance at the end of the period	¥	2,346,888	¥	1,568,364	¥	—	¥	1,568,364	¥	30,420	¥	2,359,387	¥	2,389,807
	Millions of yen
	Stockholders’ equity				Valuationandtranslationadjustments		Stockacquisitionrights		Totalnet assets
Six months ended September 30, 2025	Treasurystock		Total		Netunrealizedgains(losses) onothersecurities
Balance at the beginning of the period	¥	(38,512)	¥	6,365,117	¥	19,022	¥	767	¥	6,384,907
Changes in the period:
Issuance of new stock				1,855						1,855
Cash dividends				(240,202)						(240,202)
Net income				240,049						240,049
Purchase of treasury stock		(100,579)		(100,579)						(100,579)
Disposal of treasury stock		461		181						181
Cancellation of treasury stock		99,990		—						—
Transfer from retained earnings to capital surplus				—						—
Net changes in items other than stockholders’ equity in the period						45,108		(122)		44,985
Net changes in the period		(126)		(98,696)		45,108		(122)		(53,710)
Balance at the end of the period	¥	(38,638)	¥	6,266,421	¥	64,130	¥	645	¥	6,331,197

—77—

	Millions of U. S. dollars
	Stockholders’ equity
	Capitalstock			Capital surplus									Retained earnings
			Capitalreserve			Othercapitalsurplus			Totalcapitalsurplus			Other retained earnings					Total
Six months ended September 30, 2025							Voluntaryreserve						Retained earningsbrought forward
Balance at the beginning of the period	$	15,765		$	10,533		$	—		$	10,533		$	204	$	16,530		$	16,734
Changes in the period:
Issuance of new stock		6			6						6
Cash dividends																(1,614)			(1,614)
Net income																1,613			1,613
Purchase of treasury stock
Disposal of treasury stock								(2)			(2)
Cancellation of treasury stock								(672)			(672)
Transfer from retained earnings to capital surplus								674			674					(674)			(674)
Net changes in items other than stockholders’ equity in the period
Net changes in the period		6			6			—			6			—		(675)			(675)
Balance at the end of the period	$	15,771		$	10,539		$	—		$	10,539		$	204	$	15,855		$	16,059
	Millions of U. S. dollars
	Stockholders’ equity						Valuationandtranslationadjustments
Six months ended September 30, 2025	Treasurystock			Total			Netunrealizedgains(losses) onothersecurities			Stockacquisitionrights			Totalnet assets
Balance at the beginning of the period	$	(259)		$	42,773		$	128		$	5		$	42,906
Changes in the period:
Issuance of new stock					12									12
Cash dividends					(1,614)									(1,614)
Net income					1,613									1,613
Purchase of treasury stock		(676)			(676)									(676)
Disposal of treasury stock		3			1									1
Cancellation of treasury stock		672			—									—
Transfer from retained earnings to capital surplus					—									—
Net changes in items other than stockholders’ equity in the period								303			(1)			302
Net changes in the period		(1)			(663)			303			(1)			(361)
Balance at the end of the period	$	(260)		$	42,110		$	431		$	4		$	42,546

—78—

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