SMBC Group and CCC Group Sign Final Agreement on Capital and Business Alliance

2023.01.27 Press Releases
Sumitomo Mitsui Financial Group, Inc. / Sumitomo Mitsui Card Co., Ltd. / Culture Convenience Club Co., Ltd. / CCCMK Holdings Co., Ltd.

Sumitomo Mitsui Financial Group, Inc. (President and Group CEO: Jun Ota; collectively referred to as the "SMBC Group"), Sumitomo Mitsui Card Company, Limited (President and CEO: Yukihiko Onishi), Culture Convenience Club Co., Ltd. (President and CEO: Muneaki Masuda; collectively referred to as the "CCC Group"), and CCCMK Holdings Co., Ltd. (President and CEO: Yoshinori Takahashi) entered into a basic agreement on a capital and business alliance between SMBC Group and CCC Group on October 3, 2022, and have been discussing and considering the specific details of the capital and business alliance. We are pleased to announce that we have now reached a final agreement and signed the contract today.

The implementation of this capital and business alliance is subject to the completion of obtaining the necessary clearances, permits, and licenses under the Antimonopoly Act and other laws and regulations. Furthermore, with regard to each capital and business alliance, we will implement it within the scope of applicable laws and regulations, and if there are any procedures required by laws and regulations, we will implement it only after completing those procedures.

Once the necessary clearances and permits under the Antimonopoly Act and other laws and regulations have been obtained, the details of the capital and business alliance and an outline of the new points will be promptly announced.

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SMBC Group and CCC Group Sign Final Agreement on Capital and Business Alliance