Mizuho Financial Group on track to reach FY13 profit target

Check out how well it fared last year.

According to Barclays, Mizuho had a strong rebound from 2Q’s weak progress, bringing NP to 78% and net OP to 75% of fullyear targets: Mizuho FG reported 3Q results, with progress versus full-year targets reaching 75.4% for parent and 74.9% for consolidated adjusted net OP, and 78.3% for consolidated NP, a sharp pickup from the 37% NP level as of end-2Q.

"Key drivers were a just over JPY150bn recovery by stock-related income that narrowed the loss from JPY274.5bn (at end-2Q) to JPY122.9bn, a JPY45.3bn addition to bond dealing profits, and positive core net OP excluding bond dealing profits," added Barclays.

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