Mizuho Financial Group, Inc., The Current Fiscal Year Net Income Revised Upward by 9%, Exceeded record profit forecast, Dividend Revised Upward by 15 yen

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Thu Nov 14, 2024 3:45 pm JST Earnings

8411 Mizuho Financial Group, Inc. 【J-GAAP】

Earnings Report

Mizuho Financial Group, Inc. <8411> [TSE-P] announced its financial results after the market closed on November 14th (15:45). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 566 billion yen, an increase of 36.2% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward by 9.3%, from the previous forecast of 750 billion yen to 820 billion yen (compared to 678 billion yen in the previous period), increasing the growth rate from 10.5% to 20.8%. The company has further increased its previous forecast of record profits for the first time in eleven years.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 3.6% from the same period last year to 253 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 115 yen to 130 yen (compared to 105 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 62.3% from the same period last year, reaching 276 billion yen.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	2,944,948	ー	439,282	333,964	131.8	55.6	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	4,244,507	ー	574,093	415,753	164.0	62.8	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	4,585,215	ー	747,079	566,141	223.4	ー	Nov 14, 2024	J-GAAP
YoY	+8.0%	－	+30.1%	+36.2%	+36.2%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	57.50	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,585,215	ー	747,079	566,141	223.4	65	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	ー	750,000	296.6	115	May 15, 2024	J-GAAP
Mar, 2025 New	ー	ー	ー	820,000	324.3	130	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	+9.3%	+9.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	4,499,951	ー	339,954	263,240	103.9	55	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	ー	ー	ー	253,859	100.4	65	Nov 14, 2024	J-GAAP
YoY	－	－	－	-3.6%	-3.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	5,778,772	ー	789,606	555,527	219.2	85	May 15, 2023	J-GAAP
Mar, 2024	8,744,458	ー	914,047	678,993	267.9	105	May 15, 2024	J-GAAP
Mar, 2025 Guidance	ー	ー	ー	820,000	324.3	130	Nov 14, 2024	J-GAAP
YoY	－	－	－	+20.8%	+21.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,385,634	ー	279,896	170,561	67.3	0.0	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	1,915,975	ー	308,757	226,567	89.4	0.0	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	2,583,976	ー	31,197	36,673	14.5	0.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,380,899	ー	354,383	289,300	114.1	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	2,204,316	ー	392,696	276,841	109.2	0.0	Nov 14, 2024	J-GAAP
YoY	-7.6%	－	+40.3%	+62.3%	+62.3%