[6-K] Brookfield Wealth Solutions Ltd. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Q1 FY25 (Apr–Jun 2025, J-GAAP) snapshot:

• Ordinary income ¥2.13 tn, –10.5 % YoY on softer trading and loan yields.
• Ordinary profit ¥368.6 bn, +4.0 % YoY; net profit attributable to owners ¥290.5 bn, +0.4 % (EPS ¥115.90).
• Total assets fell 1.6 % since Mar-25 to ¥278.7 tn; own-capital ratio edged up to 3.7 %.
• NPL ratio improved to 0.73 % (–23 bp); credit-related costs a modest ¥11.4 bn.

Guidance & shareholder returns: Full-year profit target lifted 8.5 % to ¥1.02 tn (15 % YoY growth), implying FY EPS ¥407.81. Dividend outlook unchanged at ¥145/share (up ¥5 YoY) with ¥72.5 interim.

Segment colour: Retail & Business Banking and CIBC drove net business profit growth; Global Markets cooled as ETF-related gains shrank to ¥3.2 bn (vs ¥31.7 bn). Net interest income rose 30 % YoY while trading income slid 14 %.

Balance-sheet trends: Loans down ¥0.14 tn to ¥94.0 tn; deposits down ¥0.62 tn to ¥154.3 tn. Unrealised gains on securities up ¥162 bn to ¥1.37 tn, aided by equity market strength. Treasury stock grew to 14.4 m shares.

Takeaway: Upgraded guidance, better asset quality and stable dividends offset revenue pressure and a still-thin capital base, signalling cautious but improving fundamentals.

Positive

• FY25 net-profit guidance raised 8.5 % to ¥1.02 tn, signalling management confidence.
• NPL ratio improved to 0.73 % and high-risk loan balances fell ¥254 bn.
• Dividend forecast of ¥145/share represents a ¥5 increase YoY, supporting yield.
• Own-capital ratio ticked up to 3.7 % and unrealised securities gains rose ¥162 bn.

Negative

• Ordinary income declined 10.5 % YoY, driven by weaker trading and interest income.
• Global Markets profit fell as ETF gains dropped to ¥3.2 bn from ¥31.7 bn.
• Capital base remains thin; 3.7 % own-capital ratio trails international peers.
• Total assets and loan book contracted, suggesting limited organic growth.

Insights

Banking Equity Analyst

TL;DR: Guidance raised, credit clean-up continues; revenue softness and low capital temper outlook.

MHFG’s 8.5 % hike in FY25 net-profit guidance to ¥1.02 tn is the key positive, reflecting lower funding costs and realised equity gains. Credit metrics are encouraging: NPL ratio at 0.73 % and credit costs <¥12 bn provide headroom for shareholder returns. However, ordinary income fell double-digits and Global Markets profit dropped sharply as ETF gains normalised, highlighting earnings volatility. Own-capital ratio of 3.7 % remains well below global peers, limiting buyback flexibility. Net interest income momentum (-loan spreads wider, deposit beta contained) should partially offset weaker trading, but asset and deposit contraction suggests subdued balance-sheet growth. Overall, moderately positive with valuation support from higher dividend.

Risk Analyst

TL;DR: Asset-quality gains solid; market-risk dependence and thin capital still key risks.

Sharp drop in high-risk claims (–¥254 bn) and lower NPL ratio signal effective credit risk management. Securities unrealised gains improved and hedge losses narrowed, reducing OCI volatility. Yet ordinary income decline stems largely from diminished trading revenues, underscoring exposure to market swings. Capital ratio only nudged to 3.7 %, far from Basel III leverage comfort, and treasury-share increase implies limited buffer. Rising rates could pressure JGB valuations (¥67 bn latent loss). While near-term risk appears contained, structural capital weakness warrants caution; impact classified as neutral to slightly positive.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of: July 2025

Commission File Number: 001-40509

BROOKFIELD WEALTH SOLUTIONS LTD.

(Translation of registrant’s name into English)

Ideation House, First Floor

94 Pitts Bay Road

Pembroke, HM08

Bermuda

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒   Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Exhibit Index

Exhibit		Description of Exhibit
2.1		Rule 2.7 Announcement, dated July 31, 2025

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				BROOKFIELD WEALTH SOLUTIONS LTD.
Date: July 31, 2025				By:		/s/ Thomas Corbett
						Name:  Thomas Corbett Title:   Chief Financial Officer

FAQ

Why did Mizuho Financial Group (MFG) raise its FY2025 earnings guidance?

Management cites lower credit costs, improved funding spreads and realised equity gains, lifting net-profit target to ¥1.02 tn (+8.5 %).

How did credit quality trend in Q1 FY2025 for MFG?

High-risk claims fell ¥254 bn and the NPL ratio improved to 0.73 %, reflecting stronger asset quality.

What is MFG’s updated dividend outlook?

The group maintains a forecast of ¥145 per share for FY25, up ¥5 YoY, with an interim payment of ¥72.5.

How did trading activities affect Q1 results?

Net trading income dropped 14 % YoY to ¥185.1 bn; ETF gains shrank sharply, weighing on ordinary income.

What are the key balance-sheet changes since March 2025?

Total assets fell to ¥278.7 tn (–1.6 %), loans to ¥94.0 tn (–¥0.14 tn) and deposits to ¥154.3 tn (–¥0.62 tn).

Is MFG’s capital position improving?

Own-capital ratio edged up to 3.7 %, but remains low compared with global peers.