Mizuho Financial Group (8411) Q1 2025 earnings summary

Executive summary

• Net income attributable to owners/FG rose 17.9% YoY to JPY 289.3B, with strong consolidated gross profits and ordinary income up 28% YoY to JPY 2,380.9B.

• Consolidated net business profits increased 32% YoY to JPY 328.7B, with 30% progress toward the annual target.

• Comprehensive income declined to JPY 232.1B from JPY 467.3B YoY, reflecting lower other comprehensive income despite higher net profit.

Financial highlights

• Consolidated gross profits: JPY 776.2B (+JPY 144.2B YoY); consolidated net business profits: JPY 328.7B (+JPY 79.9B YoY).

• Net income per share increased to JPY 114.14 from JPY 96.75 YoY.

• Total assets as of June 2024: JPY 292.3T (+JPY 13.6T vs Mar 2024); loans: JPY 95T (+JPY 3.1T); deposits/NCDs: JPY 170T (-JPY 0.4T).

• Net gains related to stocks increased by JPY 8.8B YoY, reaching JPY 45.2B.

• NPL ratio improved to 1.05% as of June 2024.

Outlook and guidance

• FY2024 profit attributable to owners of parent is forecast at JPY 750B, up 10.4% YoY, with estimated annual dividend per share of JPY 115.00.

• Net business profits and net income are progressing well toward FY24 targets, with 30% and 38% achieved in Q1.

• Management notes that forward-looking statements are subject to risks and uncertainties, with actual results potentially differing materially.