Senior Bank Analyst - Japanese Banks, Windamee Research

J. Brian Waterhouse

J. Brian Waterhouse has been covering the Japanese financial sector as an analyst continuously since 1976, working for CLSA, Japaninvest, Rabobank, HSBC Securities, James Capel, Marine Midland Bank of New York and National & Grindlays Bank.  He has been ranked No.1 overall in Japanese banks research in Japan by Asiamoney for 6 of the past 9 years and was runner-up in 2015.  He was awarded the coveted Starmine prize as top Japanese bank stock picker in 2012 and 2014 and was runner-up in 2013.  He frequently appears on TV, radio and in international print media as a commentator on Japanese banking.

Senior Bank Analyst - Japanese Banks

MUFG (8306 JP) - BigBank BigBuyback But A Bit Pricey Vs SMFG

Thinking About Japanese Banks - Go Big, Go Small, Go Insurance

Mizuho Financial Group (8411 JP):  Gotohbi Gremlins

Mizuho Financial Group (8411 JP):  Straight Eight

Mizuho Financial Group (8411 JP):  Deja Vu All Over Again

Gravity Works As WeWork Doesn't; Now Plan B

Mizuho Financial Group (8411 JP):  Not So Lucky 7

Windamee Research

Japanese Banks

Equity Bottom-Up

Mizuho Financial Group / Equity Bottom-Up

<ul>
<li>1H FY3/2022 consolidated net profits of ¥385.65 billion were not only +78.9% YoY but were also the highest 1st half consolidated net profits produced by the group in 7 years.</li>
<li>Key drivers of the much-improved results included better net interest and fee income, lower GAE expenses and much-reduced credit costs.</li>
<li>MHFG trails all six of its peers in terms of YoY price performance; MHFG remains mired in computer systems-related issues that do nothing to enhance its reputation for operational reliability.</li>
</ul>


1H FY3/2022 consolidated net profits of ¥385.65 billion were not only +78.9% YoY but were also the highest 1st half consolidated net profits produced by the group in 7 years.
Key drivers of the much-improved results included better net interest and fee income, lower GAE expenses and much-reduced credit costs.
MHFG trails all six of its peers in terms of YoY price performance; MHFG remains mired in computer systems-related issues that do nothing to enhance its reputation for operational reliability.


Sumitomo Mitsui Financial Group (8316 JP)

Mitsubishi UFJ Financial (MUFG) (8306 JP)

Mizuho Financial Group (8411 JP):  Defying the Skeptics