FilingReader Intelligence

Money Forward and SMBC finalize digital banking joint venture

July 22, 2025 at 06:40 AM UTCBy FilingReader AI

Money Forward will establish a joint venture with Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation.

A new subsidiary, SMF Inc., was incorporated with 250 million yen capital and will convert into "SMBC Money Forward Bank Preparatory Corporation" with 50/50 ownership through a third-party share allotment in August 2025.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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