Japan’s Mizuho Financial reports 36% drop in Q1 net profit

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Mizuho said profit for the April-June quarter came in at 159.29 billion yen ($1.20 billion). That compared with an average profit estimate of 115.25 billion yen from two analysts surveyed by Refinitiv.

The banking group maintained its full-year net profit forecast at 540 billion yen, compared to the average 550.60 billion yen forecast by 12 analysts.

($1 = 132.6800 yen)