Mizuho Financial Plans To Expand US Capital Markets Business: Bloomberg

Mizuho Financial Group Inc's MFG new CEO says that the company is doubling down on bets in U.S. capital markets by aiming to expand into more lucrative areas, reported Bloomberg.
The report quoted Masahiro Kihara, CEO of Japan's third-largest bank, stating that the company wants to hire bankers to build its businesses with non-investment grade companies and leveraged buyout financing, where returns are expected to be higher. He stated that proper risk management will be undertaken for these initiatives.
The U.S. is "a super-important market. It's the second-biggest revenue and profit generator after Japan," Kihara added. "There is more room for what we can do in America."
"By working with these clients, we are hoping to win M&A advisory and ECM deals as well," said Kihara.
Kihara has stated that he is not interested in acquiring traditional Asian commercial banks. Mizuho will instead pursue opportunities in digital finance.
Mizuho is also planning to spend 50 billion yen ($390 million) over the next five years to invest in its corporate clients' carbon transition efforts through buying into their ventures, he added.
Price Action: MFG shares closed lower by 1.61% at $2.45 on Friday.
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