MIZUHO FINANCIAL GROUP INC (MFG): Financial results for Q1 2026
MIZUHO FINANCIAL GROUP INC (MFG) furnished an SEC Form 6-K — earnings release. THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF MIZUHO FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-282497) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHE
How this was made
The 30-second read
Why it matters
Earnings beat and upward guidance suggest stronger profitability, likely supporting the stock and sector sentiment.
Market read
The earnings beat may boost Japanese banking sector sentiment and influence global financial markets.
What to watch
Loan‑quality trends and upcoming policy changes are not highlighted but could affect future performance
Profit Attributable to Owners of Parent rose to ¥422,909 million, and MHFG revised its Fiscal 2026 estimate to ¥1,400,000 million from ¥1,300,000 million.
Ordinary Income, Ordinary Profits and Profit Attributable to Owners of Parent increased year over year, while the company raised its Fiscal 2026 profit estimate and maintained its Fiscal 2026 estimated total annual dividend at ¥150.00.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Ordinary IncomeGAAP | ¥2,520,855 million | – | 18.3% |
| Interest IncomeGAAP | ¥1,494,425 million | – | – |
| Interest on Loans and Bills DiscountedGAAP | ¥735,811 million | – | – |
| Interest and Dividends on SecuritiesGAAP | ¥262,894 million | – | – |
| Trust FeesGAAP | ¥16,761 million | – | – |
| Fee and Commission IncomeGAAP | ¥340,665 million | – | – |
| Trading IncomeGAAP | ¥364,125 million | – | – |
| Other Operating IncomeGAAP | ¥133,117 million | – | – |
| Other Ordinary IncomeGAAP | ¥171,760 million | – | – |
| Ordinary ExpensesGAAP | ¥1,921,882 million | – | – |
| Interest ExpensesGAAP | ¥1,130,265 million | – | – |
| Interest on DepositsGAAP | ¥438,881 million | – | – |
| Fee and Commission ExpensesGAAP | ¥74,202 million | – | – |
| Trading ExpensesGAAP | ¥87,469 million | – | – |
| Other Operating ExpensesGAAP | ¥30,365 million | – | – |
| General and Administrative ExpensesGAAP | ¥505,969 million | – | – |
| Other Ordinary ExpensesGAAP | ¥93,611 million | – | – |
| Ordinary ProfitsGAAP | ¥598,973 million | – | 62.5% |
| Profit before Income TaxesGAAP | ¥592,913 million | – | – |
| Income TaxesGAAP | ¥168,411 million | – | – |
| ProfitGAAP | ¥424,502 million | – | – |
| Profit Attributable to Owners of ParentGAAP | ¥422,909 million | – | 45.5% |
| Earnings per Share of Common StockGAAP | ¥173.53 | – | – |
| Diluted Earnings per Share of Common StockGAAP | ¥173.53 | – | – |
| Comprehensive IncomeGAAP | ¥413,801 million | – | 25.8% |
| Consolidated Gross Profitsother | ¥1,026.7 billion | – | – |
| Net Interest Incomeother | ¥364.1 billion | – | – |
| Net Fee and Commission Incomeother | ¥266.4 billion | – | – |
| Net Trading Incomeother | ¥276.6 billion | – | – |
| Net Other Operating Incomeother | ¥102.7 billion | – | – |
| Consolidated Net Business Profitsother | ¥532.4 billion | – | – |
| Credit-related Costsother | ¥(6.1) billion | – | – |
| Net Gains (Losses) related to Stocksother | ¥73.9 billion | – | – |
| Total AssetsGAAP | ¥304,283,463 million | – | – |
| Total Net AssetsGAAP | ¥11,587,130 million | – | – |
| Own Capital Ratioother | 3.7% | – | – |
| NPL ratioother | 0.70% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Retail & Business Banking Company (RBC)Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others; Net Business Profits were ¥82,219 million. | ¥258,494 million | – | – |
| Corporate & Investment Banking Company (CIBC)Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others; Net Business Profits were ¥153,016 million. | ¥211,216 million | – | – |
| Global Corporate & Investment Banking Company (GCIBC)Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others; Net Business Profits were ¥95,481 million. | ¥232,801 million | – | – |
| Global Markets Company (GMC)Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others; Net Gains (Losses) related to ETFs and others were ¥42,904 million and Net Business Profits were ¥199,661 million. | ¥314,498 million | – | – |
| Asset Management Company (AMC)Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others; Net Business Profits were ¥5,132 million. | ¥15,501 million | – | – |
Fiscal 2026 (for the fiscal year ending March 31, 2027) outlook
- NoteProfit Attributable to Owners of Parent: ¥1,400,000 million
- NoteChanges from the corresponding period of the previous fiscal year: 12.1%
- NoteEarnings per Share of Common Stock: ¥575.08
- NoteFiscal 2026 H1 Profit Attributable to Owners of Parent: —
- NoteFiscal 2026 H1 Earnings per Share of Common Stock: —
- NoteFiscal 2026 estimated second quarter-end cash dividend per share: ¥75.00
- NoteFiscal 2026 estimated fiscal year-end cash dividend per share: ¥75.00
- NoteFiscal 2026 estimated total annual cash dividend per share: ¥150.00
Capital returns
- Fiscal 2025 total annual cash dividend per share: ¥145.00.
- Fiscal 2026 estimated second quarter-end cash dividend per share: ¥75.00.
- Fiscal 2026 estimated fiscal year-end cash dividend per share: ¥75.00.
- Fiscal 2026 estimated total annual cash dividend per share: ¥150.00.
- Period-end treasury stock: 9,294,931 shares as of June 30, 2026; 51,325,298 shares as of March 31, 2026.
What drove it
- Ordinary Income was ¥2,520,855 million, including Interest Income of ¥1,494,425 million, Fee and Commission Income of ¥340,665 million, Trading Income of ¥364,125 million and Other Operating Income of ¥133,117 million.
- Consolidated Gross Profits were ¥1,026.7 billion, including Net Interest Income of ¥364.1 billion, Net Fee and Commission Income of ¥266.4 billion, Net Trading Income of ¥276.6 billion and Net Other Operating Income of ¥102.7 billion.
- Net Gains (Losses) related to ETFs and others were ¥43,344 million, of which ¥42,904 million was included in the GMC.
- Net Gains (Losses) related to Stocks were ¥73.9 billion, including Gains on Sales of ¥126.7 billion and Losses on Sales of ¥(52.4) billion.
- Aggregate figures for the 2 banks showed Return on Loans and Bills Discounted of 1.59%, Cost of Deposits of 0.32%, and Loan and Deposit Rate Margin of 1.26%.
Concerns
- General and Administrative Expenses were ¥505,969 million, compared with ¥460,705 million for the three months ended June 30, 2025.
- Other Ordinary Expenses were ¥93,611 million, compared with ¥35,315 million for the three months ended June 30, 2025.
- Expenses related to Portfolio Problems, including Reversal of (Provision for) General Allowance for Loan Losses, were ¥(23.7) billion, compared with ¥(17.5) billion for the three months ended June 30, 2025.
- Other Comprehensive Income (Loss) was ¥(10,700) million, compared with ¥37,052 million for the three months ended June 30, 2025.
- Consolidated unrealized gains/losses on Foreign Bonds were ¥(363.8) billion as of June 30, 2026.
What to watch
- Execution against Fiscal 2026 Profit Attributable to Owners of Parent guidance of ¥1,400,000 million.
- The sustainability of Net Trading Income of ¥276.6 billion and GMC gross profits of ¥314,498 million.
- General and Administrative Expenses following ¥505,969 million in the first quarter.
- Credit-related Costs following ¥(6.1) billion in the first quarter and the consolidated NPL ratio of 0.70% as of June 30, 2026.
- Deposit, loan and securities balance movements, including Loans and Bills Discounted of ¥103,079,469 million and Securities of ¥49,922,242 million as of June 30, 2026.
Balance sheet and cash flow
- Cash and Due from Banks: ¥52,124,258 million as of June 30, 2026; ¥61,567,751 million as of March 31, 2026.
- Loans and Bills Discounted: ¥103,079,469 million as of June 30, 2026; ¥99,753,193 million as of March 31, 2026.
- Securities: ¥49,922,242 million as of June 30, 2026; ¥42,632,517 million as of March 31, 2026.
- Deposits: ¥165,315,426 million as of June 30, 2026; ¥165,937,062 million as of March 31, 2026.
- Borrowed Money: ¥4,943,213 million as of June 30, 2026; ¥5,098,065 million as of March 31, 2026.
- Bonds and Notes: ¥16,164,465 million as of June 30, 2026; ¥15,444,980 million as of March 31, 2026.
- Total Assets: ¥304,283,463 million as of June 30, 2026; ¥302,240,042 million as of March 31, 2026.
- Total Liabilities: ¥292,696,333 million as of June 30, 2026; ¥290,836,151 million as of March 31, 2026.
- Total Net Assets: ¥11,587,130 million as of June 30, 2026; ¥11,403,890 million as of March 31, 2026.
- Quarterly Consolidated Statement of Cash Flows was not prepared for the three months ended June 30, 2026.
- Depreciation: ¥61,359 million for the three months ended June 30, 2026; ¥50,817 million for the three months ended June 30, 2025.
- Amortization of Goodwill: ¥2,907 million for the three months ended June 30, 2026; ¥1,802 million for the three months ended June 30, 2025.
Analysis
Mizuho reported a strong first quarter under Japanese GAAP. Ordinary Income was ¥2,520,855 million, up 18.3%, while Ordinary Profits increased 62.5% to ¥598,973 million. Profit Attributable to Owners of Parent was ¥422,909 million, up 45.5%, and both basic and diluted earnings per share were ¥173.53. The company revised its Fiscal 2026 estimate for Profit Attributable to Owners of Parent to ¥1,400,000 million from ¥1,300,000 million.
The income mix showed gains across interest, fees and trading. Interest Income was ¥1,494,425 million, Fee and Commission Income was ¥340,665 million, Trading Income was ¥364,125 million and Other Operating Income was ¥133,117 million. In selected financial information, Consolidated Gross Profits were ¥1,026.7 billion and Consolidated Net Business Profits were ¥532.4 billion. GMC produced ¥314,498 million of gross profits and ¥199,661 million of net business profits, while net gains related to ETFs and others were ¥43,344 million, largely in GMC.
Costs and credit items remain material monitoring points. General and Administrative Expenses were ¥505,969 million, versus ¥460,705 million a year earlier. Expenses related to Portfolio Problems were ¥(23.7) billion, while consolidated Credit-related Costs were ¥(6.1) billion. Asset quality metrics improved from March 31, 2026, with the consolidated NPL ratio at 0.70% and the sub-total of non-performing claims at ¥842.6 billion.
The balance sheet expanded modestly. Total Assets were ¥304,283,463 million, with Loans and Bills Discounted at ¥103,079,469 million and Securities at ¥49,922,242 million. Deposits were ¥165,315,426 million. The two-bank aggregate loan and deposit rate margin was 1.26% for the first quarter. The filing did not include a quarterly consolidated cash flow statement, so operating cash flow and free cash flow were not reported.
Capital returns included a Fiscal 2026 estimated total annual cash dividend per share of ¥150.00, comprising estimated second quarter-end and fiscal year-end payments of ¥75.00 each. The company stated that there was no revision to the latest announced dividend estimates. Fiscal 2026 profit guidance was raised after the first-quarter result, while no Fiscal 2026 H1 profit estimate was provided.
Not in the filing
stated, not guessed- Operating cash flow
- Free cash flow
- Quarterly Consolidated Statement of Cash Flows
- GAAP gross margin
- GAAP operating income
- Non-GAAP earnings measures
- Fiscal 2026 H1 earnings estimate
- Prior-release outlook for comparison
- Management earnings commentary
- Named executive earnings quotes
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Mizuho Financial Group filed a Form 6‑K on July 30, 2026 reporting Q1 2026 results with higher income and raised FY guidance.
Ticker impact
Q1 2026 earnings released with 18.3% rise in ordinary income and FY2026 earnings estimate raised 7.6% to ¥1.4tn
Potential 3‑5% upside for MFG if market prices the earnings beat and raised guidance
Strong earnings growth and upward FY guidance suggest improved profitability, likely supporting a bullish stance on the stock
Market effects
Japanese banking sector may see improved sentiment and higher valuations
Japan equities could rally on stronger financial‑sector earnings
Positive earnings may lift global financial stocks and influence currency markets
Counterpoint
Higher credit costs and potential regulatory headwinds could offset earnings gains and pressure margins
Key entities
- companyMizuho Financial Group Inc.
Japanese bank reporting Q1 2026 earnings and revised FY2026 outlook
