Lacking profitable retail units and unable to grow aggressively overseas, Mizuho must cut costs.
No-moat Mizuho Financial Group announced first-quarter results that were in line with our estimates and management’s guidance. Our fair value estimate is unchanged at JPY 190.Performance was fairly even across major business lines. Net interest income is tracking last year’s pace, although margins have compressed slightly. Mizuho highlights the performance of its customer groups as particularly strong, having improved by JPY 43.4 billion year over year. Fee income is weak, just like last year’s...
Mizuho Financial Group is a financial holding company with total assets of Y204,255,642 million as of Mar 31 2018. Retail & Business Banking Company provides financial services for individual customers and SMEs. Corporate & Institutional Company provides financial services for large corporations, financial institutions and public corporations. The Global Corporate Company provides financial services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers. Global Markets Company invests in financial products with market risk. The Asset Management Company develops financial products and provides financial services for individuals and institutional investors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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