Sumitomo Mitsui Financial Group
"Economic relations between Iran and Japan will enter a new phase after a planned $10 billion credit line is opened, said a senior assistant to the dean of Asian Development Bank Institute in Japan.”Three Japanese big banks, namely the Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Bank and Mizuho Bank, have started interactions in the form of telegraphic transfer—an electronic method of transferring funds—and L/C at sight with a number of Iranian banks." (May 13, 2017)
"Bank of Tokyo-Mitsubishi UFJ handles the bulk of Japan's oil-related payment to the Islamic nation, with the rest handled by Sumitomo Mitsui Banking Corp, sources said." (The New York Times, "Japan's JX: No Problem With Paying Iran for Oil Now," 5/17/2012)
"Two additional challenges are also in the mix for Tokyo. The first is the financing of oil imports from Iran. Annually, Japan’s oil trade with Iran runs around one trillion yen, or $13.1 billion. On January 19 the Nikkei Shimbun reported that 80 to 90 percent of those transactions are done by the Bank of Tokyo Mitsubishi UFJ, and the remainder by the Sumitomo Mitsui Banking Corporation." (CFR. "Japan's Iran Sanctions Dilemma," 1/31/12)
"Sumitomo Mitsui Financial Group Inc., Japan’s second-largest publicly traded bank, has identified transactions that may have violated U.S. economic sanctions, the bank said in a securities filing. The bank said it voluntarily disclosed 'a limited number' of transactions with Cuba, Iran, Sudan and other countries to the Treasury Department’s Office of Foreign Assets Control, which enforces U.S. sanctions....The bank has a representative office in Iran and provides financing to entities there." (Wall Street Journal, "Sumitomo Mitsui Financial Group Discloses Potential Violations of US Sanctions," 10/22/10)
"Reports issued by U.S. researchers attempting to document activity by multinational companies in Iran have named...units of Japan's three largest banks--Mitsubishi UFJ Financial Group Inc, Sumitomo Mitsui Financial Group and Mizuho Financial Group Inc--as doing business that could possibly run afoul of new U.S. rules. A widely circulated report issued this year by a former U.S. Treasury Department official on global banks doing business with Iranian banks named the Big Three Japanese financial institutions. Spokespeople for the three Japanese banks declined to comment on the accuracy of the report, or how the law might affect their operations in Iran." (Wall Street Journal, "New U.S. Law on Iran May Hurt Japanese Firms," 7/1/2010).