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Sumitomo Mitsui Financial Group, Inc. (President & Group CEO: Toru Nakashima, hereinafter referred to as the "SMBC Group") and Sumitomo Mitsui Banking Corporation (President and CEO: Akihiro Fukutome, hereinafter "SMBC") announced that SMBC has reached an agreement with State Bank of India (Chairman: Challa Sreenivasulu Setty, hereinafter referred to as "SBI"), the state-owned bank of the Republic of India (herein after referred to as "India") and other financial institutions in India to acquire 20.0% equity stake in YES BANK Limited (CEO: Prashant Kumar, hereinafter referred to as "YES BANK"), a private commercial bank in India, (Purchase consideration: 134.8 billion Indian Rupee, approx. 240 billion yen, PBR 1.4 times) subject to regulatory approvals, and signed definitive agreements. As a result of the investment, YES BANK is expected to become an equity-method affiliate of SMBC Group and SMBC. 1. SMBC Group's Business in Ind...

Suzuki showcased its first battery electric vehicle (BEV), the e VITARA, at the Bharat Mobility Global Expo 2025 * , which is being held in New Delhi, India, from 17 January 2025. The e VITARA is Suzuki’s first global strategic BEV model which was unveiled at Milan, Italy in November 2024. Production will commence at the Gujarat Plant of Maruti Suzuki India Limited (hereinafter Maruti Suzuki) in spring 2025, with sales to begin in various countries, including India, Europe, and Japan, around summer 2025. This event marks the first time the Indian spec production model is being unveiled. Eight display models in different body colors are exhibited, along with cut-away vehicles and technical exhibits of the BEV unit, including the eAxle. Additionally, in the press conference held on the 17th, initiatives to enhance BEV’s adoption in India had been announced. By leveraging its extensive sales and service networks in India, Maruti Suzuki will establish a BEV ecos...