Mizuho Financial Group is aiming for a net income of ¥1 trillion ($6.4 billion) over the next three to four years, according to the bank’s chief executive officer.
Masahiro Kihara said on Wednesday that domestic corporate banking, asset and wealth management, as well as global and corporate and investment banking, would all contribute to growth. Mizuho previously projected record annual net income of ¥820 billion for the current fiscal year ending in March, meaning the increase would require an uplift of more than 20%.
“The momentum in Japan is changing dramatically,” he said during an interview in Davos, Switzerland, where he is attending the World Economic Forum.
Kihara also echoed confidence voiced by other banking chiefs that U.S. President Donald Trump would be good for the banking industry. Mizuho aims to increase its revenue from the U.S. to 30% from the current level of 25% and expects an increase in mergers and acquisitions, he said. In November, the lender announced its first share buyback since 2008.
“President Trump is very friendly to business,” he said. “We have a sizable operation in the U.S. We have been adding capabilities in the investment banking areas, this will be a good opportunity for us, too.”
Mizuho is pushing to expand overseas revenue, with a particular focus on the investment banking business in the U.S. It bought New York-based Greenhill & Co. in 2023.
