March 6, 2019 / 6:53 AM / 9 months ago

Japan's Mizuho slashes full-year profit outlook, hit by $6 billion restructuring costs

TOKYO, March 6 (Reuters) - Japan’s Mizuho Financial Group on Wednesday slashed its full-year profit outlook by 86 percent, citing 680 billion yen ($6.1 billion) in one-time restructuring costs, including an overhaul of its securities portfolio.

Japan’s second-largest bank by assets said it expects 80 billion yen in net income for the year to end-March, instead of 570 billion yen it had predicted earlier.

$1 = 111.7800 yen Reporting by Junko Fujita; Editing by David Dolan

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