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Sumitomo Mitsui Financial Group changed its Annual Securities Report to fix big mistakes in its money claims.

ResultsRead the original at moomoo.com
Bad for SMFG

SMFG corrected an error that cut reported net assets by JPY 68.2 billion and total assets by JPY 99.6 billion. Lower tax liabilities partly cushion the cuts, but do not erase the reported loss in asset value and securities gains.

SMFG · Sumitomo Mitsui Financial Group

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The correction leaves the group reporting less value in securities gains and its assets. The JPY 31.4 billion drop in deferred tax liabilities partly counters the reductions, but net assets still fell by JPY 68.2 billion. A subsidiary will also file a similar amendment.

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