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Sumitomo Mitsui Financial Group (SMFG) is raising US$1 billion through the issuance of 5.796% subordinated callable fixed-to-floating rate notes due 8 July 2046. The securities are designed to qualify as both Tier 2 regulatory capital and external TLAC for the group, while the proceeds will be on-lent to core banking subsidiary SMBC as an internal TLAC Tier 2 loan for general corporate purposes.

Coupon structure: (i) Fixed 5.796% p.a. paid semi-annually from 8 Jul 2025 to 8 Jul 2045; (ii) floating from 8 Jul 2045 to maturity at Compounded Daily SOFR + 178 bp, reset quarterly and paid quarterly. Issue price is 100% (plus accrued) and investors receive US$2 k minimum denominations.

Loss-absorption mechanics: The notes carry a Non-Viability Event (NVE) write-down. Upon a Japanese Prime Minister confirmation that 鈥淪pecified Item 2 measures鈥� under the Deposit Insurance Act must be applied to SMFG, the full principal is permanently written down to zero and all future coupons are cancelled. Holders have no contractual conversion into equity and extremely limited acceleration rights (only upon certain bankruptcy-type events).

Call & early redemption: SMFG may redeem the notes (whole, not part) one year before maturity, or earlier upon adverse tax or regulatory capital changes, all subject to FSA approval, at 100% plus accrued interest.

Ranking & subordination: Obligations rank pari passu with other SMFG Tier 2 instruments, junior to senior indebtedness and structurally subordinated to liabilities of subsidiaries. In any Subordination Event, payments are deferred behind senior claims.

Distribution & listing: Joint bookrunners include SMBC Nikko and Goldman Sachs. The notes will be cleared through DTC (global certificate) and are expected to list on the Luxembourg Stock Exchange鈥檚 Euro MTF.

Economics: Public offering price 100%; underwriting fee 0.75% (US$7.5 m) leaving net proceeds of US$992.5 m. Settlement is targeted for 8 Jul 2025.

Investor considerations:

• Enhances SMFG鈥檚 capital stack ahead of full TLAC implementation (18% RWA / 7.1% leverage denominator).
• Yield pick-up versus senior debt, but investors assume write-down and subordination risk with no equity upside.
• SOFR-linked floating leg introduces benchmark transition and rate-volatility exposure.
• Early-call uncertainty (FSA approval) can limit price upside.

Kura Oncology, Inc. (KURA) filed an 8-K to disclose that, on June 27, 2025, it executed a Co-Promotion and Medical Affairs Agreement with Kyowa Kirin, Inc. covering U.S. commercialization of its oral menin inhibitor ziftomenib for acute myeloid leukemia and other hematologic malignancies. The agreement operates under the previously announced November 20, 2024 Collaboration and License Agreement.

Main commercial terms

• Co-promotion rights: Kyowa Kirin US will handle up to a specified share of sales details and must meet minimum detailing thresholds with qualified representatives.
• Cost sharing: Both companies will split all U.S. co-promotion and medical affairs expenses 50/50.
• Medical affairs leadership: Kura will lead U.S. medical affairs, with input from Kyowa Kirin; the parties will jointly craft a health economics and outcomes research strategy.
• Term & termination: The pact lasts until the earlier of (i) mutual decision to cease commercialization or (ii) expiration of the U.S. collaboration term鈥攄efined as the latest of patent expiry, regulatory exclusivity expiry, or 10 years after first commercial sale. It terminates automatically if the broader Collaboration Agreement ends, and either side may end it for an uncured material breach.

The full agreement, with confidential portions redacted, will be filed as an exhibit to Kura鈥檚 Form 10-Q for the quarter ending June 30, 2025.

Sumitomo Mitsui Financial Group, Inc. (SMFG) filed a Form 6-K reporting the latest status of its ongoing share buyback authorized by the Board on 14 May 2025.

• Buyback progress (June 1-30, 2025): 13,526,400 common shares repurchased for 楼48.92 billion via market purchases under a discretionary dealing contract.
• Cumulative progress (as of June 30, 2025): 17,516,200 shares repurchased for 楼63.42 billion, representing 43.8 % of the 40 million-share limit and 63.4 % of the 楼100 billion budget.
• Program parameters: Up to 40 million shares (鈮�1.0 % of issued shares excl. treasury) or 楼100 billion, to be executed between 15 May and 31 Jul 2025.

The filing contains no other financial statements or strategic disclosures. For investors, the update indicates that SMFG is more than halfway through the authorized monetary amount one month before the program ends, signaling capital management confidence and potential EPS accretion.

Sumitomo Mitsui Financial Group, Inc. (SMFG) filed a Form 6-K reporting the latest status of its ongoing share buyback authorized by the Board on 14 May 2025.

• Buyback progress (June 1-30, 2025): 13,526,400 common shares repurchased for 楼48.92 billion via market purchases under a discretionary dealing contract.
• Cumulative progress (as of June 30, 2025): 17,516,200 shares repurchased for 楼63.42 billion, representing 43.8 % of the 40 million-share limit and 63.4 % of the 楼100 billion budget.
• Program parameters: Up to 40 million shares (鈮�1.0 % of issued shares excl. treasury) or 楼100 billion, to be executed between 15 May and 31 Jul 2025.

The filing contains no other financial statements or strategic disclosures. For investors, the update indicates that SMFG is more than halfway through the authorized monetary amount one month before the program ends, signaling capital management confidence and potential EPS accretion.

YPF Sociedad An贸nima (NYSE: YPF) filed a Form 6-K to disclose a U.S. District Court decision dated 30 June 2025 ordering the Argentine Republic 鈥� not YPF 鈥� to surrender its YPF shareholdings in two separate New York enforcement actions:

• Petersen/Eton Park case: the Republic must transfer its Class D shares to a Bank of New York Mellon (BNYM) global custody account within 14 days, then instruct BNYM to deliver those shares to the plaintiffs within one business day of deposit.
• Bainbridge case: a similar order covers both Class A and Class D shares, with identical timing requirements.

YPF emphasises that it is not a party to either turnover proceeding. The Republic may still appeal the turnover orders.

Investment implications: The mandated transfer could materially reduce the Argentine government鈥檚 equity stake and voting influence in YPF if the orders are upheld, potentially shifting governance dynamics. Conversely, any appeal could delay execution, prolonging uncertainty. The eventual recipients (hedge funds and litigation vehicles) may opt to monetise the shares, creating potential secondary-market supply pressure. No direct financial penalties or cash outflows are imposed on YPF in this ruling, so immediate liquidity impacts are negligible, yet the change in ownership structure and lingering litigation headline risk remain key factors for investors.

Sumitomo Mitsui Financial Group, Inc. (SMFG) has furnished a Form 6-K to notify investors of the filing of its FY 2024/2025 Form 20-F and to provide headline IFRS results for the year ended 31 March 2025. The submission incorporates the full Form 20-F by reference and presents condensed consolidated financial statements and key risk language.

Balance sheet highlights (IFRS)

• Total assets rose 3.9% to ¥292.2 trn, driven mainly by a 55.9% increase in reverse repo assets (¥22.1 trn) and a 2.9% expansion in loans and advances to ¥125.2 trn.
• Customer deposits climbed 4.4% to ¥190.0 trn and now finance 69.0% of the balance sheet (vs. 64.7% a year earlier).
• Total liabilities grew 4.0% to ¥275.7 trn; borrowings declined 21.2% to ¥12.7 trn, partially offset by a 37.8% jump in repos to ¥27.8 trn.
• Total equity inched up 1.3% to ¥16.49 trn, although 鈥渙ther reserves鈥� fell 10% to ¥3.66 trn.

Income-statement highlights (IFRS)

• Interest income increased 13.0% to ¥6.72 trn while interest expense grew only 3.7%, lifting net interest income 33% to ¥2.51 trn.
• Fee & commission income advanced 11.0% to ¥1.63 trn; net fee income improved 6.5% to ¥1.32 trn.
• Trading swung from a ¥349.5 bn gain to a ¥186.7 bn loss; valuation gains at FV-through-P&L contracted 87%.
• Impairment charges doubled to ¥411.3 bn and, together with a 8.4% rise in operating expenses, pressured profitability.
• Profit before tax dropped 45.9% to ¥654.3 bn; net profit declined 42.3% to ¥516.4 bn.
• Basic EPS fell to ¥122.40 from ¥219.04 (-44%).

Shareholder implications

• Robust deposit and loan growth and a steep rise in net interest income signal tailwinds from higher global rates.
• Nevertheless, a sharp deterioration in trading performance, credit costs, and operating expenses resulted in materially lower earnings and EPS, outweighing balance-sheet expansion.
• Management cautions that forward-looking statements are subject to macroeconomic, market-valuation and credit-cost risks, and no guidance was provided in this filing.

Investors should consult the full Form 20-F for segment disclosures, capital ratios, and detailed risk factors.

Perfect Moment Ltd. (NYSE American: PMNT) has filed a 424B5 prospectus supplement to sell 10,000,000 new common shares at $0.30 each, generating gross proceeds of $3.0 million and approximately $2.82 million in net proceeds before offering expenses. The issue price represents a 29% discount to the June 26, 2025 closing price of $0.424. The company has granted ThinkEquity a 45-day option to purchase up to 1,500,000 additional shares to cover over-allotments.

Concurrent with the closing, Joachim Gottschalk & Associates鈥攂eneficially owned by Chairman Max Gottschalk鈥攚ill convert a $507,808 promissory note (principal + interest) into 1,692,694 unregistered shares at the same $0.30 price under a Section 4(a)(2) exemption. This eliminates the related debt from the balance sheet.

Public float prior to the transaction was approximately $11.9 million (12,952,173 shares) based on a $0.92 high closing price within 60 days. The company confirms compliance with the baby-shelf limitation under General Instruction I.B.6 of Form S-3, noting no other securities have been sold under the shelf in the past 12 months.

Dilution impact: Existing outstanding shares total 19,391,000. The primary sale will raise the share count by 51% to 29.39 million; inclusion of the note conversion and full over-allotment could lift the total to about 32.58 million鈥攁n estimated 68% potential dilution to current holders.

The underwriting discount equals $0.018 per share (6%), plus a 1% non-accountable expense allowance. Shares are expected to be delivered on or about June 30, 2025.

On 26 June 2025, MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) disclosed via Form 6-K that its Board approved a new allotment of stock options under the 2024 Equity Incentive Compensation Plan. The options will be formally granted around 18 July 2025 at an issue price of 楼2 per option and an exercise price of US$1.74 per share, or the ADS closing price on the allotment date if higher. The exercise window runs from 18 July 2026 through 17 July 2030.

The awards are performance-linked. Holders may exercise only if, during any fiscal year 2026-2028, adjusted consolidated revenue鈥攅xcluding Digital Preventative Healthcare and sales of directly-owned salons鈥攅xceeds JPY 10 billion, a level that is approximately 69 % above FY-2024. Additionally, recipients must remain in service; post-termination exercises are limited to 12 months unless departure is for just cause such as retirement or tenure expiry.

Total options approved for allotment comprise 207,000 for 14 directors/statutory auditors, 87,000 for 16 employees, and 106,000 for seven external collaborators. The instruments include customary forfeiture provisions and anti-dilution adjustments for stock splits.

No immediate financial impact is recorded, but the plan aligns management incentives with aggressive topline growth targets while introducing potential future dilution should the hurdles be met.

Sumitomo Mitsui Financial Group (SMFG) has submitted a notice to the SEC regarding disclosures made in their Annual Report on Form 20-F for the fiscal year ended March 31, 2025. The filing is specifically related to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Securities Exchange Act of 1934.

This notice, signed by Kazuyuki Anchi, Senior Managing Corporate Executive Officer and Group CFO, indicates that SMFG has included required disclosures regarding Iran-related activities in their annual report. The filing suggests potential business activities or transactions related to Iran that require disclosure under U.S. sanctions legislation.

Investors should note that such disclosures are required when companies engage in certain transactions with Iran or Iranian entities, and may indicate potential regulatory or compliance risks that warrant further examination in the full Form 20-F filing.