Mizuho Raising Exposure to Profitable Leasing Business; IBJ Deal Suggests Possible Future M&A
Mizuho Financial Group plans to raise its stake in IBJ Leasing (8425 JP) from 3.8% to 20%, according to the Nikkei. IBJ Leasing would issue new shares to Mizuho and use the proceeds to invest in Marubeni (8002 JP) subsidiary MG Leasing, making MG Leasing a 50-50 joint venture of IBJ and Marubeni. The news affects Mizuho in two ways.Financially, a 20% stake in IBJ Leasing as an equity-method affiliate would boost Mizuho’s annual net profit by around 0.5%--material but not enough to change our f...
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