Mizuho Financial Group, Inc. Sponsored ADR Stock News

Major Japanese banks logged gains in efficiency measured by their cost-to-income ratios over the 12 months ended Sept. 30, helped by improved profits.

Mizuho Financial Group, Inc. (NYSE:MFG ) Q2 2024 Results Earnings Conference Call November 16, 2024 1:30 AM ET Company Participants Orita Natsuki - Chief Investor Relationship Officer, General Manager of Investor Relationship Department Masahiro Kihara - President and Group Chief Executive Officer Takefumi Yonezawa - Group Chief Financial Officer Conference Call Participants Takahiro Yano - J.P...

The world has been primarily focused on the decisions made by the United States Federal Reserve (the Fed), particularly regarding interest rates and the state of the economy. Given that inflation has been tamed sufficiently, the Fed has decided to cut interest rates at the most aggressive pace in 16 years.

As US inflation shows signs of slowing, the prediction of a "soft landing" for the economy has become a prevalent view on Wall Street. However, Japan's third-largest bank, Mizuho, warns that if this prediction proves wrong, it could lead to short-term market volatility.

NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Mizuho Americas today announced that Thierry Perrein has joined as Managing Director and Credit Strategist. He primarily covers REITs and Non-bank Financials, complementing Mizuho's integrated offerings in these sectors. He reports to Brian Connors, Managing Director and Head of Investment Grade (IG) Trading within Mizuho Americas' Fixed Income Division.

Mizuho Financial is awarded a Buy rating due to its bottom-line growth and ROE expansion for the recent quarter. MFG's EPS grew by +18% YoY in Q1 FY 2024, as its banking business unit benefited from higher interest rates in Japan. The company's ROE improved to 8.0% for the first quarter of fiscal 2024, which means it is on track to meet its FY 2025 ROE goal of above 8%.