Mizuho posts profit, but predicts bleaker 2013

Mizuho Financial Group reported a 27% rise in consolidated net profits to ¥912.1bn ($8.96bn) for the year ending March 31 2013, crediting the performance to depreciation of the yen against other currencies and the quantitative easing measures put in place by the Japanese government. But its outlook for this year is bleak, as it is expecting more than a ¥100bn drop in profits.