Notes to Consolidated Financial Statements SMFG Millions of yen 2011 Contract amount Fair value Valuation gains (losses) March 31 Total Over 1 year Listed Commodity futures: Sold .................................................................................................... ¥ 4,566 ¥ — ¥ 19 ¥ 19 Bought ............................................................................................... 5,573 — (24) (24) Over-the-counter Commodity swaps: Receivable fixed price/payable floating price....................................... 197,189 167,741 (52,883) (52,883) Receivable floating price/payable fixed price....................................... 143,052 115,341 94,816 94,816 Receivable floating price/payable floating price .................................. 25 — 0 0 Commodity options: Sold .................................................................................................... 18,952 14,871 (43) (43) Bought ............................................................................................... 7,742 6,067 308 308 Total ....................................................................................................... / / ¥42,194 ¥42,194 Millions of yen 2010 Contract amount Fair value Valuation gains (losses) March 31 Total Over 1 year Listed Commodity futures: Sold  .................................................................................................... ¥ 11,998 ¥ — ¥ (160) ¥ (160) Bought ............................................................................................... 12,235 — 154 154 Over-the-counter Commodity swaps: Receivable fixed price/payable floating price....................................... 213,634 199,442 (48,721) (48,721) Receivable floating price/payable fixed price....................................... 172,127 159,140 101,006 101,006 Receivable floating price/payable floating price .................................. 7 7 0 0 Commodity options: Sold .................................................................................................... 22,674 16,019 (198) (198) Bought ............................................................................................... 25,623 16,355 1,821 1,821 Total  ....................................................................................................... / / ¥ 53,902 ¥ 53,902 Millions of U.S. dollars 2011 Contract amount Fair value Valuation gains (losses) March 31 Total Over 1 year Listed Commodity futures: Sold .................................................................................................... $ 55 $ — $ 0 $ 0 Bought ............................................................................................... 67 — (0) (0) Over-the-counter Commodity swaps: Receivable fixed price/payable floating price....................................... 2,371 2,017 (636) (636) Receivable floating price/payable fixed price....................................... 1,720 1,387 1,140 1,140 Receivable floating price/payable floating price .................................. 0 — 0 0 Commodity options: Sold .................................................................................................... 228 179 (1) (1) Bought ............................................................................................... 93 73 4 4 Total ....................................................................................................... / / $ 507 $ 507 Notes: 1. The above transactions are valued at fair value and the valuation gains (losses) are accounted for in the consolidated statements of income. 2. Fair value of transactions listed on exchange is calculated using the closing prices on the New York Mercantile Exchange and others. Fair value of OTC transactions is calculated based on factors such as price of the relevant commodity and contract term. 3. Commodity derivatives are transactions on fuel and metal. SMFG  2011 117 (e) Commodity derivatives