SMBC Group and SBI Group Partner for New Asset Management Services in "Olive"

Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, SMBC Nikko Securities, and Sumitomo Mitsui Card Company, together with SBI Holdings and SBI Securities, have concluded a "Business Partnership Agreement for Individual Asset Management Services" for the purpose of jointly creating new asset management services for Olive.

Furthermore, based on this business partnership and subject to approval by relevant authorities, the partners plan to establish a preparatory company to plan and provide the New Joint Service, aiming to commence business within fiscal year 2025. The investment ratio will be: Sumitomo Mitsui Financial Group 10%, SMBC Nikko Securities 30%, Sumitomo Mitsui Bank 20%, SBIHD 10%, and SBI Securities 30%.