General and administrative expenses increased by JPY52.3 billion on a year-on-year basis to JPY1,445.2 billion, mainly due to an increase in expenses as a result of currency fluctuations despite further progress in cost reductions through structural reforms.
As a result, consolidated net business profits decreased by JPY45.9 billion on a year-on-year basis to JPY805.2 billion.
Net gains (losses) related to stocks increased by JPY130.3 billion on a year-on-year basis to net gains of JPY86.4 billion, mainly due to the elimination of losses on the cancellation of bear funds intended to fix in place unrealized gains on stocks recorded in the previous fiscal year in addition to steady progress in the sale of cross-holding stocks.
As a result, ordinary profits increased by JPY229.7 billion on a year-on-year basis to JPY789.6 billion.
Extraordinary gains (losses) decreased by JPY54.6 billion on a year-on-year basis resulting in net losses of JPY10.6 billion, mainly due to the elimination of a large amount of gains on cancellation of an employee retirement benefit trust recorded in the previous fiscal year.
Income taxes increased by JPY158.1 billion on a year-on-year basis to JPY218.8 billion, partly due to the elimination of the impact of the tax effect of capital optimization of Mizuho Securities as part of financial structure reforms in the previous fiscal year.
As a result, profit attributable to owners of parent increased by JPY25.0 billion on a year-on-year basis to JPY555.5 billion.
You can get Mizuho Financial valuation, here https://www.growthvaluation.com/download-category/evaluations/
