Japan's SMFG 1st Half Net Income Rises 5.5%
Posted on November 14, 2012 at 04:05 AM EST
Sumitomo Mitsui Financial Group Inc. (8316.TO) reported Wednesday a 5.5% on-year gain in net profit for its fiscal first half ended Sept. 30, as a decline in valuation reserves related to deferred tax assets at its core banking unit helped cancel out losses on equity holdings.