Mizuho Financial Group ( (MZHOF) ) has released its Q2 earnings. Here is a breakdown of the information Mizuho Financial Group presented to its investors.
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Mizuho Financial Group, Inc. is a prominent financial services company operating in the banking sector, listed on both the Tokyo and New York stock exchanges, offering a range of services including banking, trust and asset management, and investment services.
In its latest earnings report for the first half of fiscal 2024, Mizuho Financial Group has displayed significant growth in key financial metrics, showcasing a robust performance compared to the same period in the previous year.
The group reported an 8% increase in ordinary income, reaching ¥4,585,215 million. Ordinary profits surged by 30.1% to ¥747,079 million, and profit attributable to owners of the parent company soared by 36.1% to ¥566,141 million. Additionally, net income per share grew to ¥223.35 from ¥164.03 in the previous year. Mizuho also announced an increase in its annual cash dividend per share estimate to ¥130.00, up from ¥105.00.
Furthermore, the group’s total assets slightly decreased to ¥277,354,891 million, while total net assets increased to ¥10,761,319 million, reflecting an improved own capital ratio of 3.8% compared to 3.6% in the previous fiscal year.
Looking ahead, Mizuho Financial Group has revised its consolidated earnings estimate for fiscal 2024, projecting a profit attributable to owners of the parent at ¥820,000 million, reflecting a 20.7% increase from the previous fiscal year. The company remains focused on executing its strategic initiatives amidst evolving market conditions.
