May 15, 2018 / 6:35 AM / 6 months ago

Japan's Mizuho says profit fell 4.4 pct last year, beats estimates

TOKYO, May 15 (Reuters) - Mizuho Financial Group Inc on Tuesday reported a 4.4 percent fall in net profit for the year ended March, beating analyst estimates, weighed down by a weak lending business plagued with ultra-low interest rates.

Japan’s third-largest lender by market valuation said profit totalled 576.5 billion yen ($5.24 billion), versus 603.5 billion yen a year earlier. The result compared with the 559.6 billion yen average of 12 analyst estimates compiled by Thomson Reuters.

For the year ending March 2019, Mizuho forecast profit of 570 billion yen, down 1.1 percent from the just-ended year. That compared with a 524 billion yen average of 14 analyst estimates. ($1 = 109.9400 yen) (Reporting by Taiga Uranaka Editing by Christopher Cushing)

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