TOKYO, Jan 30 (Reuters) – Mizuho Financial Group Inc
, Japan’s second-largest lender by assets, reported a
surprise 26 percent rise in profits for the quarter ended in
December as the Bank of Japan’s additional stimulus measures
The latest quarter’s results were a sharp reversal from the
preceding six months, when Mizuho posted a 17 percent profit
fall, making it now likely the bank will avoid the big annual
profit fall it has forecast.
TOKYO, Jan 27 (Reuters) – Japanese lender Sumitomo Mitsui
Financial Group Inc (SMFG) posted a 1.8 percent rise in
quarterly profit due to gains in its brokerage business, setting
it on track to better its own forecast of a double-digit drop in
The country’s third-largest lender by assets was able to eke
out a profit rise in its financial third quarter ended in
December, helped by a rally in the Japanese stock market after
the central bank’s surprise additional monetary stimulus
measures announced in October.
TOKYO (Reuters) – Government-owned Japan Post Holdings Co Ltd [IPO-JAPP.T] said it plans to list in the second half of the next business year and its bank and insurance units will go public at the same time, in what could be the biggest IPO of Japanese state enterprises in two decades.
The Japan Post group, one of the world’s biggest financial institutions with net assets of some 13.8 trillion yen ($115 billion), also said it plans to eventually cut its stakes in the two units to around 50 percent. Japan Post Bank Co Ltd is the nation’s biggest bank and Japan Post Insurance Co is its biggest insurance company.
TOKYO (Reuters) – Sumitomo Mitsui Financial Group Inc (SMFG) (8316.T: Quote, Profile, Research) has no plans to raise its holdings in Japanese government bonds (JGBs), its president said, as yields on sovereign debt have slumped to record lows after two rounds of massive monetary easing.
Instead, SMFG is primarily channelling its funds to Japanese and U.S. stocks, President Koichi Miyata said.
TOKYO (Reuters) – Mizuho Financial Group Inc said talks to buy Australia & New Zealand Banking Group’s (ANZ) stake in Indonesian lender Panin have stalled, adding the Japanese bank is considering other opportunities in the Southeast Asian nation.
“(The talks) have taken a slightly backward step,” Mizuho President Yasuhiro Sato said in an interview with Reuters. He did not elaborate on the reasons for the protracted negotiations.
TOKYO (Reuters) – Japan’s top three banks reported profits for the first half of the year far beyond their initial estimates, as reduced credit costs made up for more muted stock gains during a period of cooling enthusiasm over “Abenomics”.
Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T: Quote, Profile, Research), Mizuho Financial Group Inc (8411.T: Quote, Profile, Research) and Sumitomo Mitsui Financial Group Inc (SMFG) (8316.T: Quote, Profile, Research), however, continued to see paltry lending growth, highlighting the challenge faced by Japan’s central bank in encouraging borrowing and spending to stimulate the economy.
TOKYO (Reuters) – Mizuho Financial Group Inc (8411.T: Quote, Profile, Research, Stock Buzz) reported on Friday a smaller drop in first-half profit than it had projected at the start of the year, supported by strength in its market division and lower credit costs.
Japan’s No. 2 lender by assets joins third-ranked Sumitomo Mitsui Financial Group Inc (8316.T: Quote, Profile, Research, Stock Buzz) in reporting better-than-forecast April-September profit, suggesting this year would not be as bleak as the country’s top banks had initially foreseen.
TOKYO, Nov 14 (Reuters) – Mizuho Financial Group Inc
reported on Friday a smaller drop in first-half profit
than it had projected at the start of the year, supported by
strength in its market division and lower credit costs.
Japan’s No. 2 lender by assets joins third-ranked Sumitomo
Mitsui Financial Group Inc in reporting
better-than-forecast April-September profit, suggesting this
year would not be as bleak as the country’s top banks had
TOKYO (Reuters) – Japan’s second-largest regional lender Bank of Yokohama Ltd on Tuesday said it is considering a merger with a smaller rival, a move that could spur much-needed consolidation in an industry facing bleak prospects for growth.
The proposed deal would create the largest Japanese regional bank and could herald a new stage in an industry shake-up considered long overdue by authorities and industry insiders alike.
ISHINOMAKI Japan (Reuters) – Thirty billion dollars in funding for roads, bridges and thousands of new homes in areas devastated by the tsunami in Japan three and a half years ago is still languishing unspent in the bank. That means Keiko Abe is heading into a fourth winter of sub-zero temperatures in a cramped, temporary dwelling that is succumbing to the elements.
“I’m just clenching my teeth until I can move out and live like a human being again,” says Abe, 66, as she stands in the dim light of her living room with enough space for a couch, table and television. A gray mould clings to some walls of the prefab structure, where Abe has lived with her husband since shortly after a 9-metre (30 feet) wall of water obliterated large swathes of the city of Ishinomaki on the afternoon of March 11, 2011.