Mizuho Financial FY18 Profit Down, Sees Growth In FY19; Sets 5-Yr Business Plan

(RTTNews) - Mizuho Financial Group (MZHOF.OB, MFG) reported Wednesday that its fiscal 2018 profit attributable to owners of parent declined 83.2 percent to 96.57 billion yen from 576.55 billion yen last year. Earnings per share were 3.80 yen compared to 22.72 yen a year ago.

Operating profit declined 21.5 percent to 614.12 billion yen from 782.45 billion yen last year.

For the year, ordinary income was 3.93 trillion yen, up 10.2 percent from previous year's 3.56 trillion yen.

For fiscal 2019, the company targets attributable profit of 470 billion yen or 18.52 yen per share.

Separately, Mizuho Financial announced a new business plan spanning a five-year period starting from fiscal 2019. The plan is titled 5-Year Business Plan: Transitioning to the Next Generation of Financial Services.

Under the new plan, by fiscal 2023, the company projects consolidated net business profits of about 900 billion yen.