Mizuho Financial Group raised its full-year fiscal 2025 profit guidance by 10.7% to JPY 1.13 trillion, implying growth of 27.6% year on year, after the group reported first-half profit attributable to owners of JPY 689.9 billion — a 21.8% increase on the equivalent first-half result in the prior fiscal year — in results released on 14 November 2025. The revised outlook assumes the Bank of Japan policy rate stays at 0.5%.
Ordinary profits rose 13.7% year on year to JPY 849.6 billion. Consolidated gross profits rose 7.1% to JPY 1,673.1 billion, with the customer groups' net business profits up JPY 91.0 billion, which more than offset a JPY 31.0 billion decline in the Global Markets Company's net business profits. General and administrative expenses rose JPY 78.1 billion to JPY 963.8 billion as the group deployed resources to growth areas and absorbed governance costs and the weaker yen, lifting the expense ratio 0.8 points to 57.6%.
BANK OF JAPAN RATE HIKES DRIVE NET INTEREST INCOME GROWTH
Net interest income growth was confirmed by Mizuho management as a central driver of the improved first-half performance, following the Bank of Japan's decisions to raise its policy rate from previously negative territory.
Fee business across Mizuho's securities, asset management, and financial advisory operations also contributed to the first-half result.
DIVIDEND FORECAST KEPT, BUYBACK EXPANDED
Mizuho declared an interim dividend of JPY 72.50 and kept its fiscal 2025 annual dividend forecast at JPY 145 per share, up from JPY 140 in the prior fiscal year, consistent with its progressive policy of raising the dividend by about JPY 5 a year, and resolved an additional share buyback of up to JPY 200 billion, with all repurchased shares to be cancelled.
With first-half profit attributable to owners of JPY 689.9 billion already secured, Mizuho would require a second-half contribution of approximately JPY 440 billion to reach the revised full-year guidance target of JPY 1.13 trillion.