Sumitomo Mitsui Financial Group, Inc. (President & Group CEO: Tōru Nakashima, hereinafter “SMFG,” and collectively with its group companies, “SMBC Group”) has reached a basic agreement with Anderson Mori & Tomotsune (hereinafter “AMT,” which includes the general partnership named Anderson Mori & Tomotsune and other group entities), Volody Products Pvt Ltd (Founder & Director: Dinesh Sharma, hereinafter “Volody”), and LexisNexis Japan Co., Ltd. (President & Representative Director: Pascal Rosier, hereinafter “LN”) to jointly develop a Contract Lifecycle Management* (hereinafter “CLM”) business. In pursuit of this initiative, SMBC Legal X, Inc. (President & CEO: Hideki Mishima, hereinafter “SMBC Legal X,” pronounced “cross”) will be established, subject to approval by Japan’s Financial Services Agency as a specialized company for advanced banking services.

*CLM refers to the digital optimization and streamlining of all stages associated with contract management, leveraging advanced technologies.

1. Background to Establishment

SMFG established SMBC CloudSign, Inc. in 2019 to promote cloud-based electronic contracting in Japan. Electronic contracts have rapidly gained adoption, especially during the COVID-19 pandemic. However, much of the contract process—including drafting, storage, and analysis—remains analog and inefficient. Additionally, a lack of legal compliance awareness and expertise among employees and companies involved in contract-related work sometimes leads to improper contracting practices and even corporate scandals. These issues are not limited to Japan but are prevalent globally. To comprehensively address these challenges and enhance corporate governance and efficiency worldwide, SMBC Legal X is being launched in partnership with industry-leading players.

2. Business Concept

The new company will develop a platform called “LegalXross” to seamlessly digitalize the entire contract process. In addition to traditional e-contracting, it will offer a wide range of services powered by generative AI and other cutting-edge technologies, including automated contract drafting and review, contract management and analysis, workflow oversight, and legal compliance training. The platform aims not only to improve operational efficiency but also to accelerate business and management for clients. It will be deployed not only in Japan but also globally, especially in the APAC region.
This represents the largest legal tech alliance in Japan to date, with the goal of becoming the global No.1 in CLM. SMFG, AMT, and Volody will enter into a capital and business alliance, with plans to invest in SMBC Legal X by the end of 2025. This marks Japan’s first capital and business partnership between a megabank and a major law firm.

Roles of Each Company

SMFG : Overall business development leveraging the credibility of a megabank and its corporate client base
AMT : Joint product development leveraging the legal expertise of one of Japan's leading law firms
Volody : Provision of innovative CLM products from India, joint product development, and co-development in India
LN : Legal compliance database provision, joint product development using global legal tech expertise, and domestic/international sales collaboration

3. Investment in Volody

As SMBC Legal X assumes CLM system development and operations, Volody will also lead joint market development in Asia, especially India. SMFG is currently exploring a potential investment in Volody through the “SMBC Asia Rising Fund” to further strengthen this collaboration.
SMBC Group continues to accelerate open innovation with partners from various industries, aiming to resolve societal challenges and meet diverse customer needs through the advancement of its products and services.
*The “SMBC Asia Rising Fund” is a corporate venture capital fund jointly established in 2023 by Sumitomo Mitsui Banking Corporation and Incubate Fund, a venture capital firm. The fund aims to strengthen SMBC Group’s business and deliver new solutions to customers by investing in promising startups across Asia, building partnerships, and promoting innovation in business models and technology.

Company Overview of SMBC Legal X, Inc.

Company Name	SMBC Legal X, Inc.
Location	Chiyoda-ku, Tokyo
Capital	600 million yen (including capital reserve)
Shareholder Composition	100% owned by Sumitomo Mitsui Financial Group, Inc. *AMT and Volody plan to acquire equity participation by the end of 2025
Date of Establishment	To be promptly established following regulatory approval by the Financial Services Agency
Representative	Hideki Mishima, President & CEO
Business Activities	(1) Contract Lifecycle Management business (2) Other related and incidental businesses

Anderson Mori & Tomotsune:
One of Japan’s largest law firms with strengths in international business law. Approximately 700 attorneys.
https://www.amt-law.com/
Volody Products Pvt Ltd:
AI Powered Legal Tech Company based in India with robust features, UI/UX, and a strong track record with security-conscious financial institutions.
https://www.volody.com/
LexisNexis Japan Co., Ltd.:
The Japanese arm of LexisNexis, a global provider of legal, regulatory, and business information and analytics headquartered in the U.S. Offering legal SaaS products such as “ASONE®” and “Lexis+ AI,” the company operates in over 150 countries with more than 10,000 employees worldwide.
https://www.lexisnexis.com/ja-jp

For Inquiries Regarding This Release:

SMFG Public Relations : Hidema, Tel : +81-3 43332128
Anderson Mori & Tomotsune, Publicity & Marketing Committee : Arai, Tel : +81-3 67750882
Volody Products Pvt Ltd, Corporate Communication : Praket S, Tel : +91 8879046262
LexisNexis Japan Co., Ltd.. PR Office : Tagami, Tel : +81-3 55726062