Today, Sumitomo Mitsui Financial Group (SMFG), one of Japan’s three megabanks, issued an updated forecast for the fiscal year ended March 31, 2009. SMFG now forecasts a net loss of Y390 billion, or approximately $3.9 billion, for the fiscal year, as compared to the projected Y180 billion net profit that it forecasted in November 2008 and its reported a Y461.5 billion net profit for the fiscal year that ended March 31, 2008. SMFG also announced the filing of a shelf registration statement pursuant to which SMFG may issue up to Y800 billion, or approximately $8 billion, of common stock during the next year, with any capital raised to be downstreamed to SMFG’s consolidated subsidiaries.