Latest news with #MasahiroKihara
Yahoo
4 days ago
- Business
- Yahoo
Mizuho: 'Optimistic' About the Future
There is an end in sight to uncertainty, and there is reason to be optimistic about the future says Masahiro Kihara, CEO of Mizuho Financial Group. What is more, despite current uncertainty, some things remain the same for Japan's third-largest bank: the US is still a key trading partner, and Kihara still views the Japanese economy as strong. Kihara spoke to Bloomberg's Francine Lacqua.
Bloomberg
4 days ago
- Business
- Bloomberg
Mizuho: 'Optimistic' About the Future
There is an end in sight for uncertainty, and there is reason to be optimistic about the future says Masahiro Kihara, CEO of Mizuho Financial Group. What is more, despite current uncertainty, some things remain the same for the Japanese bank: the US is still a key trading partner, and Kihara, still sees the Japanese economy as a strong one. Kihara spoke to Bloomberg's Francine Lacqua. (Source: Bloomberg)
Japan Times
5 days ago
- Business
- Japan Times
Mizuho CEO confident of meeting ¥1 trillion profit target
Mizuho CEO Masahiro Kihara signaled he is confident the Japanese lender can meet its long-term target of about ¥1 trillion ($6.8 billion) in annual profit even as trade wars threaten to stifle growth. Kihara said at the start of the year that Mizuho would aim to achieve that level of net income over the next few years as policy tightening by the Bank of Japan added to optimism among commercial banks. The outlook for the Japanese economy has worsened since then, with U.S. President Donald Trump threatening to impose 25% tariffs on Japan starting Aug. 1. Before the U.S. trade tariffs were first announced in April, the bank was looking at profit of about ¥1.1 trillion for the current fiscal year, Kihara said in an interview in London. That was reduced to a "conservative' estimate of about ¥950 billion given the trade uncertainty, he said. "From a current earnings profile, I think we have almost reached ¥1 trillion,' after posting adjusted profit of ¥885 billion last year, he said. "When things get certain, the corporate action will come back, which means we can ratchet it up a little bit.' The volume of global mergers and acquisitions has grown by double digits over the four recent quarters, in a welcome development for Mizuho as it pushes to expand its advisory business. Kihara has counted on Trump to make regulations more friendly to businesses, helping spur deal-making. The bank bought Greenhill & Co. in 2023 to expand its investment banking in the U.S.. Kihara said CEOs remain on the sidelines for cross-border deals, though domestic transactions are still going ahead. The bank expects more activity in the mid-cap space in Japan, as companies look to grow or delist, he said. Japan's third-largest lender forecast in May that net income will likely climb 6.1% to ¥940 billion in the fiscal year started in April. That projection fell short of the ¥981.9 billion average estimate of analysts. Even amid the trade impasse, Kihara remains optimistic about the bank's prospects. "This uncertainty won't last for ever,' he said. At some point, companies "will adjust to the new world and that will have a lot of opportunities for both corporates and for us.'
Yahoo
5 days ago
- Business
- Yahoo
Mizuho CEO Kihara Looking Past Uncertainty
Japan's third-largest bank still sees the US as a key partner, despite ongoing trade and tariff uncertainty. Mizuho Financial Group CEO, Masahiro Kihara, told Bloomberg how he's factoring that into his outlook for Japan's economy and bond markets.
Bloomberg
5 days ago
- Business
- Bloomberg
Mizuho CEO Kihara Looking Past Uncertainty
Japan's third-largest bank still sees the US as a key partner, despite ongoing trade and tariff uncertainty. Mizuho Financial Group CEO, Masahiro Kihara, told Bloomberg how he's factoring that into his outlook for Japan's economy and bond markets. (Source: Bloomberg)
