Mizuho Financial Group (8411) Q1 2027 earnings summary

Executive summary

• Achieved significant profit growth in Q1 FY2026, with consolidated gross profits up 39.1% year-over-year, driven by strong fee business, increased equity flows, and higher banking revenue amid rising Yen interest rates.

• Ordinary income rose 18.3% year-over-year to ¥2,520.9 billion for the first quarter of fiscal 2026.

• Consolidated net business profits rose 81.9% year-over-year, reaching JPY 575.8B, with progress at 35% of the full-year outlook.

• Profit attributable to owners of parent increased 45.5% year-over-year to JPY 422.9B, representing 32% progress toward the annual target.

• Comprehensive income increased 25.8% year-over-year to ¥413.8 billion.

Financial highlights

• Consolidated gross profits: JPY 1,070.1B (+301.0B YoY); consolidated net business profits: JPY 575.8B (+259.3B YoY).

• Earnings per share for the quarter were ¥173.53, up from ¥115.90 a year earlier.

• Total assets reached ¥304.28 trillion as of June 30, 2026, up from ¥302.24 trillion at the end of March.

• Net assets totaled ¥11.59 trillion, with an own capital ratio of 3.7%.

• G&A expenses increased due to Yen depreciation, inflation, and continued investment, but expense ratio improved to 47.7% (-12.0ppts YoY).

• Ordinary profits: JPY 598.9B (+230.3B YoY).

• Credit-related costs remained limited at -6.1B, reflecting a reversal in the prior year.

• ROE (past 12 months): 12.5% (+4.0ppts YoY).

Outlook and guidance

• FY26 earnings outlook raised: net business profits expected at JPY 1,750.0B (+120.0B vs May), profit attributable to owners of parent at JPY 1,400.0B (+100.0B vs May).

• Full-year profit attributable to owners is now forecast at ¥1.4 trillion, revised up by ¥100 billion (7.6%) from previous guidance.

• Earnings per share for the year are projected at ¥575.08.

• Annual cash dividend estimate maintained at JPY 150.0 per share (+5.0 YoY); additional share buyback of up to JPY 100B resolved.

• Assumptions include BOJ policy rate at 1.00%, Nikkei 225 at JPY 57,000, and USD/JPY at 150.