Mizuho Financial Group Inc

8411: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Mizuho Has Room to Increase Shareholder Returns From Share Sale Gains

Kathy Chan

Jul 31, 2026

Business Strategy and Outlook

Mizuho Financial Group is one of Japan’s three largest banking groups. Mizuho lacks the large consumer finance, credit card, and leasing operations of its two rivals, leaving it dependent on banking, securities, and asset management for future returns. Its wholesale securities business has been performing well, in our view, including overseas. In 2023, Mizuho bought investment banking firm Greenhill, which should bolster its league table rankings in M&A advisory to complement Mizuho's existing strength in debt capital markets (with equity capital markets business overseas also growing).

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Mizuho Financial Group Inc

Mizuho Has Room to Increase Shareholder Returns From Share Sale Gains

Business Strategy and Outlook

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