The Mizuho Financial Group has decided to write off all unrealized losses in derivative transactions by using “merger profit” after reorganizing its group banks in April, company officials said Friday.
The group, consisting of Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan under Mizuho Holdings Inc., expects latent losses to reach about 300 billion yen at the end of March, but the losses could either increase or decrease depending on the trend of interest rates, officials said.
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