Mizuho Financial Group (8411) Q3 2026 earnings summary

Executive summary

• Consolidated gross profits rose 13.7% year-over-year to JPY 2,624.6B, driven by higher interest income from BOJ rate hikes and strong fee and market businesses.

• Ordinary income for the nine months ended December 31, 2025, was JPY 7,073.5B, up 6.9% year-over-year, with profit attributable to owners of parent rising 19.2% to JPY 1,019.9B.

• Comprehensive income more than doubled year-over-year to JPY 1,293.5B, reflecting strong performance across business lines.

• Consolidated net business profits increased 19.0% year-over-year to JPY 1,148.2B, with both customer groups and markets contributing.

• Profit attributable to owners of parent grew 19.2% year-over-year to JPY 1,019.8B, despite higher credit-related costs.

Financial highlights

• G&A expenses were JPY 1,504.0B, reflecting ongoing cost control and resource deployment to growth and governance areas.

• Net interest income rose to JPY 990.3B, and net fee and commission income reached JPY 756.4B.

• Net gains related to stocks were JPY 205.8B, up JPY 49.9B year-over-year.

• TSE ROE improved to 9.6%, up 0.9ppt year-over-year.

• Expense ratio improved to 57.3%, down 2.1ppt year-over-year.

Outlook and guidance

• Progress toward November’s full-year outlook: 85% for net business profits (target JPY 1.35T), 90% for profit attributable to owners (target JPY 1.13T).

• Full-year profit attributable to owners of parent is forecast at JPY 1,130.0B, a 27.6% increase from the previous year.

• Annual cash dividend estimate maintained at JPY 145.00 per share.