November 14, 2019 / 6:37 AM / a month ago

Japan's Mizuho posts 19.9% drop in H1 profit on retail weakness

TOKYO, Nov 14 (Reuters) - Mizuho Financial Group said on Thursday its half-year net profit fell 19.9%, primarily due to weakness in the retail business such as sales of investment trust products.

Japan’s third-largest lender by assets reported April-September profit of 287.7 billion yen ($2.6 billion), compared to 359.4 billion yen in the same period a year earlier.

For the full year through March, Mizuho kept its profit forecast at 470 billion yen, slightly below the 475.6 billion yen average of 13 analyst estimates compiled by Refinitiv. ($1 = 109.1000 yen) (Reporting by Takashi Umekawa; Editing by Muralikumar Anantharaman and Kim Coghill)

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