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Diversified Financial Services
FINANCIAL
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Investments

11

Portfolio Exits

1

Partners & Customers

3

About Sumitomo Mitsui Trust Holdings

Sumitomo Mitsui Trust Holdings (TYO: 8309), aka SuMi Trust Holdings, is a Japanese financial holding company that primarily operates through Sumitomo Mitsui Trust Bank. It has businesses in banking, asset management, real estate, and more.

Sumitomo Mitsui Trust Holdings Headquarter Location

1-4-1 Marunouchi Chiyoda-ku

Tokyo, 100-8233,

Japan

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Sumitomo Mitsui Trust Holdings Web Traffic

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Latest Sumitomo Mitsui Trust Holdings News

Sumitomo Mitsui Trust aims to cut $12.8bn cross-shareholdings to zero

May 12, 2021

Sumitomo Mitsui Trust aims to cut $12.8bn cross-shareholdings to zero Japanese bank to start with $2.2bn reduction in 2 years to improve governance  Sumitomo Mitsui Trust is the first major Japanese bank to decide on a policy to sell all cross-shareholdings. (Source photos by Kento Awashima and Taro Yokosawa) Nikkei staff writers TOKYO -- Japan's Sumitomo Mitsui Trust Bank parent Sumitomo Mitsui Trust Holdings aims to cut its cross-shareholdings of about 1.4 trillion yen ($12.8 billion) to zero, Nikkei learned on Wednesday. The financial company is the first major Japanese bank to decide on a policy to sell all cross-shareholdings. It plans to sell shares worth 250 billion yen in market price in two years, by March 2023. Sumitomo Mitsui Trust's decision, which is expected to be officially announced soon, comes as part of its corporate governance reform. Financial institutions in general have been reducing cross-shareholdings to maintain healthy financials at times of stock price declines. Cross-shareholdings are criticized as hollowing out voting rights because they usually do not oppose any company proposals. Proxy adviser Glass Lewis has startedencouraging shareholders to vote against proposals concerning the top management of companies whose cross-shareholdings amount to 10% or more of their net assets. Sumitomo Mitsui Trust's cross-shareholding balance was the seventh-biggest out of all listed companies by March 2020. Along with other major banks, the size is more than the standard set by Glass Lewis. Sumitomo Mitsui Trust sold cross-shareholdings of about 350 billion yen in five years from the fiscal years ended March 2017 to March 2021. The company will speed up the sales, though it does not plan to specify when it will reduce the balance to zero. There could be resistance from some of the 900 companies that it cross-holds, as many of them belong to the same group or share close relationships. Sumitomo Mitsui Trust may need to keep some cross-shareholdings if it cannot gain consent from the companies. For such companies, it plans to practice voting rights under strict standards. It would revise its standards as early as November and begin practicing voting rights from June 2022. Cross-shareholdings by Japan's major banks alone were estimated to be about 10.3 trillion yen as of March 2020, which was 20% of the roughly 50 trillion yen held in total. Stay ahead with our exclusives on Asia Sign up to our newsletters to get our best stories delivered straight to your inbox.

Sumitomo Mitsui Trust Holdings Investments

11 Investments

Sumitomo Mitsui Trust Holdings has made 11 investments. Their latest investment was in Gunvor Group as part of their Line of Credit - VII on June 6, 2021.

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Sumitomo Mitsui Trust Holdings Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/23/2021

Line of Credit - VII

Gunvor Group

$830M

Yes

1

6/21/2021

Series B - III

Securitize

$34M

Yes

8

12/30/2020

Corporate Minority

ALAN AMC

Yes

1

10/15/2020

Corporate Minority - III

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$99M

Subscribe to see more

10

6/30/2020

Debt

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$99M

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10

Date

6/23/2021

6/21/2021

12/30/2020

10/15/2020

6/30/2020

Round

Line of Credit - VII

Series B - III

Corporate Minority

Corporate Minority - III

Debt

Company

Gunvor Group

Securitize

ALAN AMC

Subscribe to see more

Subscribe to see more

Amount

$830M

$34M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

8

1

10

10

Sumitomo Mitsui Trust Holdings Portfolio Exits

1 Portfolio Exit

Sumitomo Mitsui Trust Holdings has 1 portfolio exit. Their latest portfolio exit was Paidy on September 07, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/7/2021

Acquired

$991

9

Date

9/7/2021

Exit

Acquired

Companies

Valuation

$991

Acquirer

Sources

9

Sumitomo Mitsui Trust Holdings Acquisitions

1 Acquisition

Sumitomo Mitsui Trust Holdings acquired 1 company. Their latest acquisition was Mitsui & Co. Digital Asset Management on April 01, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/1/2020

Corporate Majority

Corporate Majority

1

Date

4/1/2020

Investment Stage

Corporate Majority

Companies

Valuation

Total Funding

Note

Corporate Majority

Sources

1

Sumitomo Mitsui Trust Holdings Partners & Customers

3 Partners and customers

Sumitomo Mitsui Trust Holdings has 3 strategic partners and customers. Sumitomo Mitsui Trust Holdings recently partnered with UBS on June 6, 2019.

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