Mitsui has acquired non-cumulative perpetual preferred securities ("Preferred Securities") newly issued by SMFG Preferred Capital JPY 2 Limited, an overseas special purpose subsidiary wholly-owned by Sumitomo Mitsui Financial Group, Inc. ("SMFG"), on December 18, 2008 in the following manner:
||SMFG Preferred Capital JPY 2 Limited
|Type of Security
||Japanese yen denominated Non-Cumulative Perpetual Preferred Securities
|Total Issue Amount
||JPY 538.2 billion
|No. of securities acquired
||100 units of Series D preferred securities
||JPY 10 billion
Mitsui considers Sumitomo Mitsui Banking Corporation ("SMBC"), a consolidated subsidiary of Sumitomo Mitsui Financial Group, Inc., to be one of the most important banks with a long term historical business relationship. Mitsui believes this acquisition will contribute to enhance financial ground of both SMFG and SMBC, enabling Mitsui to strengthen the relationship with them.
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