Mizuho Financial Group eyes ~US$5.8b base profit

Find out why this is 'bullish and ambitious'.

According to Barclays, Mizuho Financial Group disclosed a bullish plan aiming to raise base profit without one-off items from JPY400bn (~US$4.2b) to JPY550bn (~US$5.8b) by adding JPY200bn (~US$2.1b) in customer segment.

Here's more from Barclays:

It presented net OP and segment goals in additional materials. The plan aims to raise base profit excluding onetime items from JPY400bn in the FY3/13 guidance to JPY550bn in consolidated NP in FY3/16, assuming a net JPY50bn setback from lower stock-related losses, normalized bond operation and higher credit costs and operating costs, and a JPY200bn increase in customer segment income.

While upbeat overseas business should deliver a JPY120bn profit gain, we find the plan fairly bullish and ambitious, including its goal of raising profit from the slumping domestic business by JPY60bn.