Mizuho Beats MUFG to Become Megabank With Best Price-Book Ratio

Mizuho Financial Group Inc. has gone from the bottom to the top of the list of Japan’s three biggest banks in price-to-book ratio, as it turns around its balance sheet and boosts investor returns.

The Tokyo-based bank saw the ratio of its market value to net assets rebound to 1.57 on Thursday, surpassing Mitsubishi UFJ Financial Group Inc.’s 1.52, Bloomberg-compiled data show. It also exceeded Sumitomo Mitsui Financial Group Inc.’s 1.38 on the same day.