By Yuma Ikeshita / Yomiuri Shimbun Staff Writer

Sumitomo Mitsui Financial Group Inc. $(SMFG)$ plans to terminate its partnership with IR Japan Inc. (IRJ), which supports listed companies in shareholder relations, sources said. SMFG reviewed its relationship with IRJ in response to a series of scandals, including violations of the Financial Instruments and Exchange Law by its former executives and employees.

According to the sources, SMFG has informed dozens of client companies that will be affected by the termination.

SMBC Trust Bank Ltd., a group company of SMFG, formed a business alliance with IRJ in August 2021. SMBC Trust Bank leveraged this partnership to provide "securities agency" services -- including support for shareholder registry management and general meeting administrative procedures -- to client companies of Sumitomo Mitsui Banking Corp. $(SMBC)$, another SMFG group company. Now that the alliance is coming to an end, SMBC Trust Bank will pursue a strategic shift, which includes reviewing its securities agency services.

Regarding IRJ, its former executive vice president was convicted in 2023 for violating the Financial Instruments and Exchange Law by engaging in insider trading. The former executive vice president's inappropriate conduct was also pointed out during a hostile takeover attempt by an investment firm against Tokyo Kikai Seisakusho Ltd., a newspaper rotary press manufacturer. In 2025, the Securities and Exchange Surveillance Commission investigated the company due to suspicions of insider trading by an employee.

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

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March 13, 2026 05:08 ET (09:08 GMT)

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