Latest news with #MizuhoFinancialGroup
Bloomberg
20-05-2025
- Business
- Bloomberg
Mizuho Waits for Next Opportunity After Cutting Bond Positions
Mizuho Financial Group Inc. is managing its securities portfolio 'very conservatively' as Japan's third-largest lender prepares for the next investing opportunity after shrinking its bond holdings. The bank wouldn't build up big positions until it is confident the Bank of Japan isn't likely to raise rates any more, Chief Executive Officer Masahiro Kihara said during a question-and-answer session with the media on Tuesday.
Nikkei Asia
19-05-2025
- Business
- Nikkei Asia
Mizuho and Mercer to team up to offer asset management services
TOKYO -- Mizuho Financial Group will partner with U.S. pensions consultant Mercer to enter the comprehensive asset management business for corporate pension funds, educational institutions and other institutional clients. Mizuho plans to begin offering the services by the end of September. The move will mark the first time a Japanese megabank enters the comprehensive asset management sector, a field that is well established in the U.S. and Europe.
Japan Times
15-05-2025
- Business
- Japan Times
Mizuho anticipates record earnings in fiscal 2025 despite tariff dent
Mizuho Financial Group expects record earnings again this fiscal year, even as profitability may be dented by U.S. tariff measures. Japan's third-largest lender forecast said Thursday that net income will likely climb 6.1% to ¥940 billion ($6.5 billion) in the year that started in April. That projection fell short of the ¥981.92 billion average estimate of analysts. Mizuho and rival Japanese banks had bumper earnings last fiscal year, thanks in large part to the Bank of Japan's decision to raise rates for the first time in 17 years. The nationwide drive to reduce corporate cross-shareholdings also boosted profit across the industry. CEO Masahiro Kihara indicated that uncertainty in global trade has led the bank to a more conservative outlook as tariff measures by the administration of U.S. President Donald Trump make business planning more unpredictable. Rival Sumitomo Mitsui Financial Group said Wednesday it had set aside ¥90 billion for risks associated with tariffs and higher interest rates. Stay updated on the trade wars. Quality journalism is more crucial than ever. Help us get the story right. For a limited time, we're offering a discounted subscription plan. Unlimited access US$30 US$18 /mo FOREVER subscribe NOW Mizuho will buy back up to ¥100 billion of its own shares, and said it expects a full-year dividend of ¥145 per share. Speaking to reporters at a briefing in Tokyo, Kihara said that while the debt capital markets business had returned to normal after a pause in April, equity and M&A activity remains subdued. He added that market volatility is helping his firm's fixed income division. Meanwhile, Mizuho projected annual bad loan costs of ¥140 billion, up from the ¥51.6 billion for the year ended in March.
CNA
15-05-2025
- Business
- CNA
Japan lender Mizuho hits record annual profit despite 18% slump in Q4
TOKYO :Japan's third-largest lender Mizuho Financial Group posted a record annual profit of 885 billion yen ($6.08 billion) as the end of deflation proved a boon for Japan's largest banks, although its fourth-quarter net profit fell 18 per cent. Mizuho booked a net profit of 30.1 billion yen ($206.7 million) in the January-March quarter compared to 36.6 billion yen in the same period a year earlier. The results follow those of Japan's second-largest banking group, Sumitomo Mitsui Financial Group, which announced a record 1.18 trillion yen annual net profit on Wednesday. Demand for commercial loans has swelled as Japan's economy emerges from decades of deflation, spurring mergers and acquisitions, growth investments overseas and capital expenditure. Mizuho forecast annual net profit for the year to end-March 2026 at 940 billion yen - which would be another record - even though the economic outlook has been muddied by U.S. President Donald Trump's sweeping global tariffs. Mizuho estimated a 110 billion yen hit to its bottom line in the current financial year as a result of the uncertainty in the external business environment. ($1 = 145.5600 yen)
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
SoftBank, Sumitomo Mitsui to forge digital banking partnership
TOKYO -- Japanese mobile carrier SoftBank and Sumitomo Mitsui Financial Group will team up on digital banking, in the latest example of partnership between traditional banks and tech companies amid a rapid spread of web-based banking in Japan. Among other examples, Mizuho Financial Group last year acquired a stake of close to 15% in Rakuten Card, one of the most popular credit cards in Japan, in an effort to make up for its relative weakness in retail businesses, while Mitsubishi UFJ Financial Group is looking at setting up a digital-only bank.
