Mizuho's surprise $6.1 billion charge exemplifies risks for Japan banks seeking returns abroad
Mizuho Financial Group Inc. announced another round of losses Wednesday on its foreign-bond holdings as part of a surprise writedown that will severely curtail full-year profit, as Japanese banks' quest to secure yield by investing overseas continues to create turbulence. Mizuho slashed its net income ...
Mizuho's new leader Tatsufumi Sakai gears up to reform struggling mega-bank
When Tatsufumi Sakai was named chief executive and president of Mizuho Financial Group this year, many bankers and investors were surprised. The low-key book lover represented a sharp contrast with Yasuhiro Sato, his bold, charismatic predecessor, who was vocal about his ambitions for Japan's second-largest ...
Mizuho's trust banking sector sets sights on $11 trillion held by Japan's well-heeled elderly
Mizuho Financial Group Inc.'s trust banking arm has its sights set on exactly where the wealth is in Japan: the $11 trillion held by the nation's elderly. The company has begun selling a type of trust that gives rich retirees more options for managing their ...
Regional banks fight for inheritance to ensure their survival
Where there's a will, there's a way. That's what banks across Japan are counting on as they try to keep hold of the ¥50 trillion in wealth left by their customers each year when they die. With more than a million Japanese dying annually, smaller ...
Mizuho to shed 19,000 jobs — about a quarter of workforce — over next decade as profits dwindle
As Mizuho Financial Group Inc.'s announced falling profits the Japanese bank offered a bleak assessment of its long-term outlook, confirming it will eliminate thousands of jobs to cut costs. The nation's third-biggest lender will shed 19,000 positions — about a quarter of its workforce — ...
Mizuho is reportedly readying AI platform for trading before EU's MiFID overhaul
Mizuho Financial Group Inc. will start artificial-intelligence trading to bolster its Japanese equity business, according to people with knowledge of the plan. Japan's third-biggest lender will begin offering an algorithm-based AI trading service to some large institutional clients in Japan and elsewhere in Asia, the ...
Mizuho Financial Group, the nation's second-largest lender, said first-quarter profit dropped 16 percent, as Japan's negative interest rate hit income from loans and investments and failed to stoke broader borrowing. Mizuho said Friday that April-June net profit fell to ¥132.6 billion ($1.28 billion) from ¥158 ...
Mizuho to spur small-business advisory income by adding 200 more bankers
Mizuho Financial Group Inc. is increasing its pool of bankers who advise small Japanese businesses on matters ranging from investing to going public as part of a push to spur fee income at the nation's third-biggest banking group. Tokyo-based Mizuho seeks to boost the number ...
Mizuho CEO says higher fee income will offset negative rates
Mizuho Financial Group Inc. is counting on fee businesses to make up for lower returns from lending and bond investments in the wake of the Bank of Japan's decision to adopt a negative interest-rate policy. "Noninterest income will grow significantly as we move into new ...
Mizuho to sideline old boys' network in next CEO selection vote
Mizuho Financial Group Inc. is doing away with the kind of opaque leadership selection process that's common in the nation, vowing to ensure its next chief executive is chosen openly and fairly. The successor to CEO Yasuhiro Sato will be determined by a group of ...
Mizuho seeks to build on No. 1 M&A rank by hiring bankers abroad
Mizuho Financial Group Inc., which vaulted to the top spot among Japan's merger advisers this year by working with Japan Post Holdings Co. and Itochu Corp., plans to build on that position by hiring bankers in the United States and Asia. As well as recruiting ...
Mizuho takes a leap into the deal business
Mizuho Financial Group Inc. will join two U.S. banks in partly financing a $66 billion acquisition in the U.S. pharmaceutical industry, its president said recently, describing the move as the banking group's leap into the deal business. Mizuho, Japan's second-largest lender by assets, will extend ...
