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Stock impact report

Japan's Mizuho reports flat second-quarter, hurt by weak lending business [Reuters]

Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) 
US:NYSE Investor Relations: mizuho-fg.com/investors/index.html
Company Research Source: Reuters
Japan's Mizuho reports flat second-quarter, hurt by weak lending business | Reuters 2 Min Read TOKYO (Reuters) - Mizuho Financial Group Inc ( 8411.T ) on Wednesday reported flat growth in net profit in the three months through September, hurt by weak domestic lending in a prolonged ultra-low interest rate environment. The results come as Japan’s second-largest lender by assets - but least profitable among the top three - tries to cut costs and improve profitability under new chief executive Tatsufumi Sakai. Japanese banks are struggling to expand in the domestic lending business while the central bank continues to pursue an interest rate policy aimed at stimulating the economy. In search of revenue, they have been increasing fees for services such as corporate transactions and retail financial product sales. For July-September, Mizuho’s profit was 198.34 billion yen ($1.74 billion), from 198.35 billion yen in the same period a year earlier, showed Reuters calculations based on the b Show less Read more
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