OREANDA-NEWS. October 15, 2012. Sumitomo Mitsui Banking Corporation (SMBC; President: Takeshi Kunibe) and Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL; President: Yoshinori Kawamura), both subsidiaries of Sumitomo Mitsui Financial Group, Inc. (SMFG; President: Koichi Miyata), and Sumitomo Corporation (SC; President and CEO: Kuniharu Nakamura) commenced the discussion on integrating SMFL Aircraft Capital Corporation B.V. (the Netherland) and SMFL Aircraft Capital Corporation Japan Co., Ltd. (Japan), both are the existing joint ventures between SMFL and SC, and Sumisho Aircraft Asset Management B.V. (the Netherland), wholly-owned subsidiary of SC, into SMBC Aviation Capital which commences operation in June 2012. This integration is targeting at developing the third largest aircraft leasing business in the world more speedily and effectively, centered on SMBC Aviation Capital as a core of the business. Agreement on the integration as well as integration itself is sought to be reached as early as possible, through discussion among related parties including SMBC, SMFL, SC and SMBC Aviation Capital.

Both groups, SMFG and SC, will continue their concerted efforts to further strengthen the aircraft leasing business, reexamine and restructure its global marketing structure and offer higher-value-added financial services to the airline industry and aircraft manufacturers in both domestic and foreign markets by leveraging their many advantages, such as a sound financial position, ability to provide sophisticated financial solutions, broad global client base, and advanced risk management practice.