Titanium is a chemical element with symbol Ti and atomic number 22. It is a lustrous transition metal with a silver color, low density, high strength. Titanium is resistant to corrosion in sea water, aqua regia, chlorine. Titanium was discovered in Cornwall, Great Britain, by William Gregor in 1791, was named by Martin Heinrich Klaproth after the Titans of Greek mythology; the element occurs within a number of mineral deposits, principally rutile and ilmenite, which are distributed in the Earth's crust and lithosphere, it is found in all living things, water bodies and soils. The metal is extracted from its principal mineral ores by the Hunter processes; the most common compound, titanium dioxide, is a popular photocatalyst and is used in the manufacture of white pigments. Other compounds include a component of smoke screens and catalysts. Titanium can be alloyed with iron, aluminium and molybdenum, among other elements, to produce strong, lightweight alloys for aerospace, industrial processes, agri-food, medical prostheses, orthopedic implants and endodontic instruments and files, dental implants, sporting goods, mobile phones, other applications.
The two most useful properties of the metal are corrosion resistance and strength-to-density ratio, the highest of any metallic element. In its unalloyed condition, titanium is less dense. There are two allotropic forms and five occurring isotopes of this element, 46Ti through 50Ti, with 48Ti being the most abundant. Although they have the same number of valence electrons and are in the same group in the periodic table and zirconium differ in many chemical and physical properties; as a metal, titanium is recognized for its high strength-to-weight ratio. It is a strong metal with low density, quite ductile and metallic-white in color; the high melting point makes it useful as a refractory metal. It is paramagnetic and has low electrical and thermal conductivity. Commercially pure grades of titanium have ultimate tensile strength of about 434 MPa, equal to that of common, low-grade steel alloys, but are less dense. Titanium is 60% denser than aluminium, but more than twice as strong as the most used 6061-T6 aluminium alloy.
Certain titanium alloys achieve tensile strengths of over 1,400 MPa. However, titanium loses strength when heated above 430 °C. Titanium is not as hard as some grades of heat-treated steel. Machining requires precautions, because the material can gall unless sharp tools and proper cooling methods are used. Like steel structures, those made from titanium have a fatigue limit that guarantees longevity in some applications; the metal is a dimorphic allotrope of an hexagonal α form that changes into a body-centered cubic β form at 882 °C. The specific heat of the α form increases as it is heated to this transition temperature but falls and remains constant for the β form regardless of temperature. Like aluminium and magnesium, titanium metal and its alloys oxidize upon exposure to air. Titanium reacts with oxygen at 1,200 °C in air, at 610 °C in pure oxygen, forming titanium dioxide, it is, slow to react with water and air at ambient temperatures because it forms a passive oxide coating that protects the bulk metal from further oxidation.
When it first forms, this protective layer continues to grow slowly. Atmospheric passivation gives titanium excellent resistance to corrosion equivalent to platinum. Titanium is capable of withstanding attack by dilute sulfuric and hydrochloric acids, chloride solutions, most organic acids. However, titanium is corroded by concentrated acids; as indicated by its negative redox potential, titanium is thermodynamically a reactive metal that burns in normal atmosphere at lower temperatures than the melting point. Melting is possible only in a vacuum. At 550 °C, it combines with chlorine, it reacts with the other halogens and absorbs hydrogen. Titanium is one of the few elements that burns in pure nitrogen gas, reacting at 800 °C to form titanium nitride, which causes embrittlement; because of its high reactivity with oxygen and some other gases, titanium filaments are applied in titanium sublimation pumps as scavengers for these gases. Such pumps inexpensively and reliably produce low pressures in ultra-high vacuum systems.
Titanium is the ninth-most abundant element in the seventh-most abundant metal. It is present as oxides in most igneous rocks, in sediments derived from them, in living things, natural bodies of water. Of the 801 types of igneous rocks analyzed by the United States Geological Survey, 784 contained titanium, its proportion in soils is 0.5 to 1.5%. Common titanium-containing minerals are anatase, ilmenite, perovskite and titanite. Akaogiite is an rare mineral consisting of titanium dioxide. Of these minerals, only rutile and ilmenite have economic importance, yet they are difficult to find in high concentrations. About 6.0 and 0.7 million tonnes of those minerals were mined in 2011, respectively. Signi
A warehouse is a building for storing goods. Warehouses are used by manufacturers, exporters, transport businesses, etc, they are large plain buildings in industrial parks on the outskirts of cities, towns or villages. They have loading docks to load and unload goods from trucks. Sometimes warehouses are designed for the loading and unloading of goods directly from railways, airports, or seaports, they have cranes and forklifts for moving goods, which are placed on ISO standard pallets loaded into pallet racks. Stored goods can include any raw materials, packing materials, spare parts, components, or finished goods associated with agriculture and production. In India, a warehouse may be referred to as a godown. A warehouse can be defined functionally as a building in which to store bulk produce or goods for commercial purposes; the built form of warehouse structures throughout time depends on many contexts: materials, technologies and cultures. In this sense, the warehouse postdates the need for communal or state-based mass storage of surplus food.
Prehistoric civilizations relied on family- or community-owned storage pits, or ‘palace’ storerooms, such as at Knossos, to protect surplus food. The archaeologist Colin Renfrew argued that gathering and storing agricultural surpluses in Bronze Age Minoan ‘palaces’ was a critical ingredient in the formation of proto-state power; the need for warehouses developed in societies in which trade reached a critical mass requiring storage at some point in the exchange process. This was evident in ancient Rome, where the horreum became a standard building form; the most studied examples are in the port city that served Rome. The Horrea Galbae, a warehouse complex on the road towards Ostia, demonstrates that these buildings could be substantial by modern standards. Galba’s horrea complex contained 140 rooms on the ground floor alone, covering an area of some 225,000 square feet; as a point of reference, less than half of U. S. warehouses today are larger than 100,000 square feet. The need for a warehouse implies having quantities of goods too big to be stored in a domestic storeroom.
But as attested by legislation concerning the levy of duties, some medieval merchants across Europe kept goods in their large household storerooms on the ground floor or cellars. An example is the Fondaco dei Tedeschi, the substantial quarters of German traders in Venice, which combined a dwelling, warehouse and quarters for travellers. From the middle ages on, dedicated warehouses were constructed around ports and other commercial hubs to facilitate large-scale trade; the warehouses of the trading port Bryggen in Bergen, demonstrate characteristic European gabled timber forms dating from the late middle ages, though what remains today was rebuilt in the same traditional style following great fires in 1702 and 1955. During the industrial revolution, the function of warehouses became more specialised. Always a building of function, in the past few decades warehouses have adapted to standardisation, technological innovation and changes in supply chain methods; the mass production of goods launched by the industrial revolution of the 18th and 19th centuries fuelled the development of larger and more specialised warehouses located close to transport hubs on canals, at railways and portside.
Specialisation of tasks is characteristic of the factory system, which developed in British textile mills and potteries in the mid-late 1700s. Factory processes speeded up deskilled labour, bringing new profits to capital investment. Warehouses fulfill a range of commercial functions besides simple storage, exemplified by Manchester’s cotton warehouses and Australian wool stores: receiving and despatching goods; the utilitarian architecture of warehouses responded fast to emerging technologies. Before and into the nineteenth century, the basic European warehouse was built of load-bearing masonry walls or heavy-framed timber with a suitable external cladding. Inside, heavy timber posts supported timber beams and joists for the upper levels more than four to five stories high. A gabled roof was conventional, with a gate in the gable facing the street, rail lines or port for a crane to hoist goods into the window-gates on each floor below. Convenient access for road transport was built-in via large doors on the ground floor.
If not in a separate building and display spaces were located on the ground or first floor. Technological innovations of the early 19th century changed the shape of warehouses and the work performed inside them: cast iron columns and moulded steel posts. All were adopted and were in common use by the middle of the 19th century. 1. Strong, slender cast iron columns began to replace masonry piers or timber posts to carry levels above the ground floor; as modern steel framing developed in the late 19th century, its strength and constructability enabled the first skyscrapers. Steel girders replaced timber beams, increasing the span of internal bays in the warehouse.2. The saw-tooth roof brought natural light to the top story of the warehouse, it transformed the shape of the warehouse, from the traditional peaked hip or gable to an flat roof form, hidden behind a parapet. Warehouse buildings now became horizontal. Inside the top floor, the vertical glazed pane of each saw-tooth enabled natural lighting over displayed goods, improving buyer inspection.3.
Hoists and cranes
Finance is a field, concerned with the allocation of assets and liabilities over space and time under conditions of risk or uncertainty. Finance can be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance. Matters in personal finance revolve around: Protection against unforeseen personal events, as well as events in the wider economies Transference of family wealth across generations Effects of tax policies management of personal finances Effects of credit on individual financial standing Development of a savings plan or financing for large purchases Planning a secure financial future in an environment of economic instability Pursuing a checking and/or a savings account Personal finance may involve paying for education, financing durable goods such as real estate and cars, buying insurance, e.g. health and property insurance and saving for retirement.
Personal finance may involve paying for a loan, or debt obligations. The six key areas of personal financial planning, as suggested by the Financial Planning Standards Board, are: Financial position: is concerned with understanding the personal resources available by examining net worth and household cash flows. Net worth is a person's balance sheet, calculated by adding up all assets under that person's control, minus all liabilities of the household, at one point in time. Household cash flows total up all from the expected sources of income within a year, minus all expected expenses within the same year. From this analysis, the financial planner can determine to what degree and in what time the personal goals can be accomplished. Adequate protection: the analysis of how to protect a household from unforeseen risks; these risks can be divided into the following: liability, death, disability and long term care. Some of these risks may be self-insurable, while most will require the purchase of an insurance contract.
Determining how much insurance to get, at the most cost effective terms requires knowledge of the market for personal insurance. Business owners, professionals and entertainers require specialized insurance professionals to adequately protect themselves. Since insurance enjoys some tax benefits, utilizing insurance investment products may be a critical piece of the overall investment planning. Tax planning: the income tax is the single largest expense in a household. Managing taxes is not a question of if you will pay taxes, but when and how much. Government gives many incentives in the form of tax deductions and credits, which can be used to reduce the lifetime tax burden. Most modern governments use a progressive tax; as one's income grows, a higher marginal rate of tax must be paid. Understanding how to take advantage of the myriad tax breaks when planning one's personal finances can make a significant impact in which can save you money in the long term. Investment and accumulation goals: planning how to accumulate enough money – for large purchases and life events – is what most people consider to be financial planning.
Major reasons to accumulate assets include purchasing a house or car, starting a business, paying for education expenses, saving for retirement. Achieving these goals requires projecting what they will cost, when you need to withdraw funds that will be necessary to be able to achieve these goals. A major risk to the household in achieving their accumulation goal is the rate of price increases over time, or inflation. Using net present value calculators, the financial planner will suggest a combination of asset earmarking and regular savings to be invested in a variety of investments. In order to overcome the rate of inflation, the investment portfolio has to get a higher rate of return, which will subject the portfolio to a number of risks. Managing these portfolio risks is most accomplished using asset allocation, which seeks to diversify investment risk and opportunity; this asset allocation will prescribe a percentage allocation to be invested in stocks, bonds and alternative investments.
The allocation should take into consideration the personal risk profile of every investor, since risk attitudes vary from person to person. Retirement planning is the process of understanding how much it costs to live at retirement, coming up with a plan to distribute assets to meet any income shortfall. Methods for retirement plans include taking advantage of government allowed structures to manage tax liability including: individual structures, or employer sponsored retirement plans and life insurance products. Estate planning involves planning for the disposition of one's assets after death. There is a tax due to the state or federal government at one's death. Avoiding these taxes means that more of one's assets will be distributed to one's heirs. One can leave one's assets to friends or charitable groups. Corporate finance deals with the sources of funding and the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, the tools and analysis used to allocate financial resources.
Although it is in principle different from managerial finance which studies the financial management of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms. Corporate f
Electronics comprises the physics, engineering and applications that deal with the emission and control of electrons in vacuum and matter. The identification of the electron in 1897, along with the invention of the vacuum tube, which could amplify and rectify small electrical signals, inaugurated the field of electronics and the electron age. Electronics deals with electrical circuits that involve active electrical components such as vacuum tubes, diodes, integrated circuits and sensors, associated passive electrical components, interconnection technologies. Electronic devices contain circuitry consisting or of active semiconductors supplemented with passive elements; the nonlinear behaviour of active components and their ability to control electron flows makes amplification of weak signals possible. Electronics is used in information processing, telecommunication, signal processing; the ability of electronic devices to act as switches makes digital information-processing possible. Interconnection technologies such as circuit boards, electronics packaging technology, other varied forms of communication infrastructure complete circuit functionality and transform the mixed electronic components into a regular working system, called an electronic system.
An electronic system may be a component of a standalone device. Electrical and electromechanical science and technology deals with the generation, switching and conversion of electrical energy to and from other energy forms; this distinction started around 1906 with the invention by Lee De Forest of the triode, which made electrical amplification of weak radio signals and audio signals possible with a non-mechanical device. Until 1950 this field was called "radio technology" because its principal application was the design and theory of radio transmitters and vacuum tubes; as of 2018 most electronic devices use semiconductor components to perform electron control. The study of semiconductor devices and related technology is considered a branch of solid-state physics, whereas the design and construction of electronic circuits to solve practical problems come under electronics engineering; this article focuses on engineering aspects of electronics. Digital electronics Analogue electronics Microelectronics Circuit design Integrated circuits Power electronics Optoelectronics Semiconductor devices Embedded systems An electronic component is any physical entity in an electronic system used to affect the electrons or their associated fields in a manner consistent with the intended function of the electronic system.
Components are intended to be connected together by being soldered to a printed circuit board, to create an electronic circuit with a particular function. Components may be packaged singly, or in more complex groups as integrated circuits; some common electronic components are capacitors, resistors, transistors, etc. Components are categorized as active or passive. Vacuum tubes were among the earliest electronic components, they were solely responsible for the electronics revolution of the first half of the twentieth century. They allowed for vastly more complicated systems and gave us radio, phonographs, long-distance telephony and much more, they played a leading role in the field of microwave and high power transmission as well as television receivers until the middle of the 1980s. Since that time, solid-state devices have all but taken over. Vacuum tubes are still used in some specialist applications such as high power RF amplifiers, cathode ray tubes, specialist audio equipment, guitar amplifiers and some microwave devices.
In April 1955, the IBM 608 was the first IBM product to use transistor circuits without any vacuum tubes and is believed to be the first all-transistorized calculator to be manufactured for the commercial market. The 608 contained more than 3,000 germanium transistors. Thomas J. Watson Jr. ordered all future IBM products to use transistors in their design. From that time on transistors were exclusively used for computer logic and peripherals. Circuits and components can be divided into two groups: digital. A particular device may consist of circuitry that has a mix of the two types. Most analog electronic appliances, such as radio receivers, are constructed from combinations of a few types of basic circuits. Analog circuits use a continuous range of voltage or current as opposed to discrete levels as in digital circuits; the number of different analog circuits so far devised is huge because a'circuit' can be defined as anything from a single component, to systems containing thousands of components.
Analog circuits are sometimes called linear circuits although many non-linear effects are used in analog circuits such as mixers, etc. Good examples of analog circuits include vacuum tube and transistor amplifiers, operational amplifiers and oscillators. One finds modern circuits that are analog; these days analog circuitry may use digital or microprocessor techniques to improve performance. This type of circuit is called "mixed signal" rather than analog or digital. Sometimes it may be difficult to differentiate between analog and digital circuits as they have elements of both linear and non-linear
The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials into more than 70,000 different products; the plastics industry contains some overlap, as most chemical companies produce plastic as well as other chemicals. Various professionals are involved in the chemical industry including chemical engineers, lab chemists, etc; as of 2018, the chemical industry comprises 15% of the US manufacturing economic sector. Although chemicals were made and used throughout history, the birth of the heavy chemical industry coincided with the beginnings of the Industrial Revolution in general. One of the first chemicals to be produced in large amounts through industrial processes was sulfuric acid. In 1736, the pharmacist Joshua Ward developed a process for its production that involved heating saltpeter, allowing the sulfur to oxidize and combine with water, it was the first practical production of sulphuric acid on a large scale.
John Roebuck and Samuel Garbett were the first to establish a large-scale factory in Prestonpans, Scotland, in 1749, which used leaden condensing chambers for the manufacture of sulfuric acid. In the early 18th century, cloth was bleached by treating it with stale urine or sour milk and exposing it to sunlight for long periods of time, which created a severe bottleneck in production. Sulfuric acid began to be used as a more efficient agent as well as lime by the middle of the century, but it was the discovery of bleaching powder by Charles Tennant that spurred the creation of the first great chemical industrial enterprise, his powder was made by reacting chlorine with dry slaked lime and proved to be a cheap and successful product. He opened a factory in St Rollox, north of Glasgow, production went from just 52 tons in 1799 to 10,000 tons just five years later. Soda ash was used since ancient times in the production of glass, textile and paper, the source of the potash had traditionally been wood ashes in Western Europe.
By the 18th century, this source was becoming uneconomical due to deforestation, the French Academy of Sciences offered a prize of 2400 livres for a method to produce alkali from sea salt. The Leblanc process was patented in 1791 by Nicolas Leblanc who built a Leblanc plant at Saint-Denis, he was denied his prize money because of the French Revolution. However, it was in Britain that the Leblanc process took off. William Losh built the first soda works in Britain at the Losh and Bell works on the River Tyne in 1816, but it remained on a small scale due to large tariffs on salt production until 1824; when these tariffs were repealed, the British soda industry was able to expand. James Muspratt's chemical works in Liverpool and Charles Tennant's complex near Glasgow became the largest chemical production centres anywhere. By the 1870s, the British soda output of 200,000 tons annually exceeded that of all other nations in the world combined; these huge factories began to produce a greater diversity of chemicals as the Industrial Revolution matured.
Large quantities of alkaline waste were vented into the environment from the production of soda, provoking one of the first pieces of environmental legislation to be passed in 1863. This provided for close inspection of the factories and imposed heavy fines on those exceeding the limits on pollution. Methods were soon devised to make useful byproducts from the alkali; the Solvay process was developed by the Belgian industrial chemist Ernest Solvay in 1861. In 1864, Solvay and his brother Alfred constructed a plant in the Belgian town of Charleroi and in 1874, they expanded into a larger plant in Nancy, France; the new process proved more economical and less polluting than the Leblanc method, its use spread. In the same year, Ludwig Mond visited Solvay to acquire the rights to use his process, he and John Brunner formed the firm of Brunner, Mond & Co. and built a Solvay plant at Winnington, England. Mond was instrumental in making the Solvay process a commercial success; the late 19th century saw an explosion in both the quantity of production and the variety of chemicals that were manufactured.
Large chemical industries took shape in Germany and in the United States. Production of artificial manufactured fertilizer for agriculture was pioneered by Sir John Lawes at his purpose-built Rothamsted Research facility. In the 1840s he established large works near London for the manufacture of superphosphate of lime. Processes for the vulcanization of rubber were patented by Charles Goodyear in the United States and Thomas Hancock in England in the 1840s; the first synthetic dye was discovered by William Henry Perkin in London. He transformed aniline into a crude mixture which, when extracted with alcohol, produced a substance with an intense purple colour, he developed the first synthetic perfumes. However, it was German industry that began to dominate the field of synthetic dyes; the three major firms BASF, Bayer and Hoechst produced several hundred different dyes, by 1913, the German industry produced 90 percent of the world supply of dyestuffs and sold about 80 percent of their production abroad.
In the United States, Herbert Henry Dow's use of electrochemistry to produce chemicals from brine was a commercial success that helped to promote the country's chemical industry. The petrochemical industry can be traced back to the oil works of James Young in Scotland and Abraham Pineo Gesne
Zaibatsu is a Japanese term referring to industrial and financial business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period until the end of World War II. They were succeeded by the Keiretsu in the second half of the 20th century; the term "zaibatsu" was coined in 19th century Japan from the Sino-Japanese roots zai 財 and batsu 閥. Although zaibatsu themselves existed from the 19th century, the term was not in common use until after World War I. By definition, the zaibatsu were large family-controlled vertical monopolies consisting of a holding company on top, with a wholly owned banking subsidiary providing finance, several industrial subsidiaries dominating specific sectors of a market, either or through a number of subsidiary companies; the zaibatsu were the heart of economic and industrial activity within the Empire of Japan, held great influence over Japanese national and foreign policies. The Rikken Seiyūkai political party was regarded as an extension of the Mitsui group, which had strong connections with the Imperial Japanese Army.
The Rikken Minseitō was connected to the Mitsubishi group, as was the Imperial Japanese Navy. By the start of World War II, the Big Four zaibatsu alone had direct control over more than 30% of Japan's mining and metals industries and 50% control of the machinery and equipment market, a significant part of the foreign commercial merchant fleet and 70% of the commercial stock exchange; the zaibatsu were viewed with suspicion by both the right and left of the political spectrum in the 1920s and 1930s. Although the world was in the throes of a worldwide economic depression, the zaibatsu were prospering through currency speculation, maintenance of low labour costs and on military procurement. Matters came to a head in the League of Blood Incident of March 1932, with the assassination of the managing director of Mitsui, after which the zaibatsu attempted to improve on their public image through increased charity work; the "Big Four" zaibatsu of, in chronological order of founding, Mitsui and Yasuda are the most significant zaibatsu groups.
Two of them and Mitsui, have roots in the Edo period while Mitsubishi and Yasuda trace their origins to the Meiji Restoration. Throughout Meiji to Shōwa, the government employed their financial powers and expertise for various endeavors, including tax collection, military procurement and foreign trade. Beyond the Big Four, consensus is lacking as to which companies can be called zaibatsu, which cannot. After the Russo-Japanese War, a number of so-called "second-tier" zaibatsu emerged as the result of business conglomerations and/or the award of lucrative military contracts; some more famous second-tier zaibatsu included the Okura and Nakajima groups, among several others. The early zaibatsu permitted some public shareholding of some subsidiary companies, but never of the top holding company or key subsidiaries; the monopolistic business practices by the zaibatsu resulted in a closed circle of companies until Japanese industrial expansion on the Asian mainland began in the 1930s, which allowed for the rise of a number of new groups, including Nissan.
These new zaibatsu differed from the traditional zaibatsu only in that they were not controlled by specific families, not in terms of business practices. The zaibatsu had been viewed with some ambivalence by the Japanese military, which nationalized a significant portion of their production capability during World War II. Remaining assets were highly damaged by the destruction during the war. Under the Allied occupation after the surrender of Japan, a successful attempt was made to dissolve the zaibatsu. Many of the economic advisors accompanying the SCAP administration had experience with the New Deal program under the American President and were suspicious of monopolies and restrictive business practices, which they felt to be both inefficient, to be a form of corporatocracy. During the occupation of Japan, sixteen zaibatsu were targeted for complete dissolution, twenty-six more for reorganization after dissolution. Among the zaibatsu that were targeted for dissolution in 1947 were Asano, Nakajima, Nissan and Okura.
In addition, Yasuda dissolved itself in 1946. The controlling families' assets were seized, holding companies eliminated, interlocking directorships, essential to the old system of inter-company coordination, were outlawed. Matsushita, while not a zaibatsu, was also targeted for breakup, but was saved by a petition signed by 15,000 of its union workers and their families. However, complete dissolution of the zaibatsu was never achieved because the U. S. government rescinded the orders in an effort to reindustrialize Japan as a bulwark against communism in Asia. Zaibatsu as a whole were considered to be beneficial to the Japanese economy and government, the opinions of the Japanese public, of the zaibatsu workers and management, of the entrenched bureaucracy regarding plans for zaibatsu dissolution ranged from unenthusiastic to disapproving. Additionally, the changing politics of the occupation during the reverse course served as a crippling, if not terminal, roadblock to zaibatsu elimination.
Today, the influence of the zaibatsu can still be seen in the form of financial groups and larger companies whose origins reach back to the original zaibatsu sharing the sa
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation is a Japanese multinational banking and financial services company headquartered in Yurakucho, Tokyo, Japan. It is a wholly owned subsidiary of Sumitomo Mitsui Financial Group. SMBC is the second largest bank in Japan by assets. SMBC was formed by the merger of The Sumitomo Bank and Sakura Bank in April 2001. Sumitomo Bank was a major Japanese bank founded in 1895. April 2001: Sakura Bank and Sumitomo Bank merge to form Sumitomo Mitsui Banking Corporation. December 2002: Sumitomo Mitsui Banking Corporation establishes a holding company named Sumitomo Mitsui Financial Group, Inc. through a share transfer, SMBC becomes a wholly owned subsidiary of SMFG. March 2003: Wakashio Bank merges with SMBC. July 2008: Sumitomo Mitsui buys a 2.1 per cent stake in Barclays Bank for £500m. April 2008: A group of criminal hackers including Hugh Rodley, security insider Kevin O'Donoghue and Soho sex shop owner David Nash are found guilty of an attempted high-tech robbery of £229m from Sumitomo Mitsui Banking Corporation's London branch in September 2004.
Henchmen Jan Van Osselaer and Gilles Poelvoorde were found guilty of conspiracy to steal. The plot was discovered by Sumitomo Mitsui staff, no money was stolen. Another accused, Bernard Davies, died before trial. March 2015, Sumitomo Mitsui Banking Corporation bought HK$6.58 billion of new Bank of East Asia shares, raising SMBC's stake in the Hong Kong lender to 17.5% from 9.7%. January 2019, Sumitomo Mitsui Banking Corporation Indonesia merged with PT Bank Tabungan Pensiunan Nasional Tbk known as Bank BTPN; the group owned 96,89% ownership of the bank since the merger was completed on 1 February 2019, with Bank BTPN as the surviving brand. Indonesian authorities approved the merger in December 2018, while Japanese authorities approved the merger a month later; the Sumitomo Mitsui Banking Corporation is organised in the following structure: Consumer Banking Unit Middle Market Unit Corporate Banking Unit Investment Banking Unit International Banking Unit Treasury Unit Compliance Unit Corporate Staff Unit Sumitomo Mitsui Financial Group, Inc.
Loans in Japan Hiroaki Shukuzawa SMBC Aviation Capital www.smbc.co.jp/global