Mizuho Financial Group (8411) Investor presentation summary

Key messages and financial highlights

• Achieved record net income of JPY 1,248.6B in FY25, surpassing JPY 1T for the first time, driven by growth in focus business areas and BOJ rate hikes.

• Strengthened shareholder returns with JPY 400B in share buybacks and a total payout ratio of 60% in FY25.

• Delivered on medium-term financial targets two years ahead of schedule; new FY28 target is ROE over 12%.

• P/B ratio improved to 1.49 as of April 2026, aiming to close the gap with global peers.

• FY26 outlook projects another all-time high net income of JPY 1,300B and continued dividend growth.

Strategic direction and business environment

• Japan is experiencing a historic economic shift, with rising inflation, increased corporate investment, and a retail shift from savings to investment.

• Focus on supporting Japan’s industrial competitiveness, supply chain resilience, and fostering new industries.

• Global CIB business is expanding, with stable growth in the Americas and increased collaboration in EMEA and APAC.

• Disciplined risk management and agile response to geopolitical and economic uncertainties, including the Middle East conflict.

• Emphasis on diversity, talent development, and performance-based HR systems to drive innovation.

Business portfolio and operational efficiency

• Gross profits reached JPY 3.5T in FY25, with a stable revenue structure centered on corporate banking and mass retail.

• Approximately 70% of credit exposure is investment grade, primarily to large corporates domestically and internationally.

• Americas CIB delivered USD 5.2B in gross profits with reduced earnings volatility and diversified revenue streams.

• Ongoing cost discipline, with expense ratio improving to 59.4% and productivity gains through digitalization and AI.

• Balance sheet remains robust, with CET1 ratio at 9.9% and a focus on stable funding and deposit acquisition.