Mizuho’s net income climbs 22% to $4.39b in FY2023

An annual dividend of JPY105 per share has been announced.

Mizuho Financial Group’s net income rose to $4.39b (JPY678.9b) in FY2023, a 22% rise from its reported net income of JPY123.4b in FY2023, its latest financial results showed.

An annual dividend of JPY105 per share has been announced, higher by JPY5 compared to the previous fiscal year.

For FY2024, Mizuho is looking to raise its annual dividend by JPY10 to JPY115 per share, which would mark the fourth consecutive yearly increase.

Consolidated gross profits was JPY2.67t during the fiscal year, which is JPY392b higher than a year ago. Growth in Interest, Solutions and IB-related income alongside market tailwinds led to strong performance in both Mizuho’s customer groups and markets, the bank stated.

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Total assets as of March 2024 was JPY278t, higher by JPY24.4t than a year earlier. Loans made up JPY92t of the assets, whilst deposits and negotiable certificate of deposits (NCDs) made up JP171t of Mizuho’s assets.

Non-JPY assets, meanwhile, were $498.3b, which is $12.1b higher than in FY2023. Loans made up $253.6b of the assets, and customer deposits made up $201.5b. The customer deposit to loan ratio for these assets was 79%. Japanese clients made up approximately 50% of these assets, clients in the America and APAC made up 20% each, and clients in EMEA made up the remaining 10%.

(US$1 = JPY154.32; as of 16 May 2024, 2:57 PM)