Financial PerformanceMizuho Financial Group achieved a 3QFY24 net profit of JPY289.2bn, which was well above consensus, driven by higher lending income and robust fee income.
Profit GuidanceManagement announced its first share buyback of up to JPY100bn since 2008, raised dividends and FY24F net profit guidance to a record JPY820bn.
Share BuybackMizuho's announcement of share buyback plans is expected to drive a re-rating of its price-to-book value, reflecting management's confidence in sufficient capital reserves for growth.