Mizuho Decides to Book Costs Early to Provide Clean Slate for Medium-Term Plan
Mizuho Financial Group lowered its net profit guidance for the fiscal year ending March 2019 from JPY 570 billion to JPY 80 billion, as it now plans to book an extraordinary loss of about JPY 680 billion in the fiscal fourth quarter. Of the JPY 680 billion, JPY 500 billion is to write down the value of fixed assets (JPY 40 billion for branch closures and the remainder of JPY 460 billion to write down the value of software) and JPY 180 billion is mainly for losses on foreign bonds.Mizuho’s loss ...
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