trending Market Intelligence /marketintelligence/en/news-insights/trending/uwxqrcg7pafhr7lqhijrkq2 content esgSubNav
In This List

Unlike Japan's other megabanks, Mizuho fiscal-year profit hit by long-term woes

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Unlike Japan's other megabanks, Mizuho fiscal-year profit hit by long-term woes

Mizuho Financial Group Inc. ended its latest fiscal year with the battle scars from years of ultralow interest rates and other local challenges. While Japan's other megabanks — Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. — reported gains for the year to March 31, Mizuho posted a second consecutive year-over-year decline in profit.

Mizuho, Asia's eighth-largest bank by assets in 2017, posted a 4.5% year-over-year drop in net profit to ¥576.55 billion, its lowest profit in five years. During its May 15 earnings announcement, the group acknowledged a variety of challenges, including weak loan and noninterest income growth.

Like the other megabanks, it is pivoting overseas to bolster its bottom line. Citing an executive officer of the company, The Nikkei reported earlier in May that the company is considering expanding its operations in China by seeking a brokerage license under new foreign ownership rules.

But challenges remain. All three banks recorded net interest margins of below 1%. Mizuho's net interest margin stood at 0.46% in the year to March 31, down from 0.52% a year earlier.

SNL Image

SNL Image

Access our Events Calendar under the News, Events And Filings tab found on the left of every company's profile to view when it is expected to report earnings. Here is an example for Mizuho Financial Group Inc.
Using the Market Intelligence Office and Screener tools, pull the earliest expected release date for a company's earnings using keyfield 131582.
Click here to set-up real-time alerts for data-driven articles on any region of interest.