UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2023

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F  ☒    Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes  ☐    No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82-                    .

 

 

 

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF MIZUHO FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: May 15, 2023
Mizuho Financial Group, Inc.
By:  

/s/ Takefumi Yonezawa

Name:   Takefumi Yonezawa
Title:   Senior Executive Officer / Group CFO

For Immediate Release:

 

  

Consolidated Financial Statements for Fiscal 2022

(Under Japanese GAAP)

    LOGO

 

Company Name:    Mizuho Financial Group, Inc. (“MHFG”)    May 15, 2023
Stock Code Number (Japan):   8411  
Stock Exchange Listings:   Tokyo Stock Exchange (Prime Market), New York Stock Exchange  
URL:   https://www.mizuhogroup.com    
Representative:   Masahiro Kihara    President & Group CEO    
For Inquiry:   Yasutoshi Tanaka    General Manager of Accounting   Phone: +81-3-6838-6101  
Ordinary General Meeting of Shareholders (scheduled):   June 23, 2023   Commencement of Dividend Payment (scheduled): June 6, 2023

Filing of Yuka Shoken Hokokusho to

  the Kanto Local Finance Bureau (scheduled):

   June 16, 2023   Trading Accounts: Established  
Supplementary Materials on Annual Results:   Attached    
IR Conference on Annual Results:   Scheduled    
Amounts less than one million yen are rounded down.

1. Financial Highlights for Fiscal 2022 (for the fiscal year ended March 31, 2023)

(1) Consolidated Results of Operations

 

(%: Changes from the previous fiscal year)

 

     Ordinary Income      Ordinary Profits      Profit Attributable
to Owners of
Parent		  
     ¥ million      %      ¥ million      %      ¥ million      %  

Fiscal 2022

      5,778,772        45.8        789,606        41.0        555,527        4.7  

Fiscal 2021

      3,963,091        23.1        559,847        4.3        530,479        12.6  

 

Note:

   

Comprehensive Income:

Fiscal 2022: ¥277,666 million, 489.2%; Fiscal 2021: ¥47,121 million, (94.9)%

 

     Net Income
per Share of
Common Stock		      Diluted Net Income
per Share of
Common Stock		      Net Income
on Own Capital		      Ordinary Profits
to Total Assets		      Ordinary Profits
to Ordinary Income		  
     ¥      ¥      %      %      %  

Fiscal 2022

      219.20        219.19        6.1        0.3        13.6  

Fiscal 2021

      209.27        209.26        5.7        0.2        14.1  

 

Reference:

  

Equity in Income from Investments in Affiliates:

Fiscal 2022: ¥11,889 million; Fiscal 2021: ¥25,434 million

(2) Consolidated Financial Conditions

 

     Total Assets      Total Net Assets      Own Capital Ratio      Total Net Assets
per Share of
Common Stock		  
     ¥ million      ¥ million      %      ¥  

Fiscal 2022

      254,258,203        9,208,463        3.5        3,603.98  

Fiscal 2021

      237,066,142        9,201,031        3.8        3,581.39  

Reference:

 

Own Capital:

As of March 31, 2023: ¥9,133,294 million; As of March 31, 2022: ¥9,077,382 million

Note:

   Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Non-controlling Interests) / Total Assets × 100
 

Own Capital Ratio stated above is not calculated based on the public notice of Own Capital Ratio.

(3) Conditions of Consolidated Cash Flows

 

     Cash Flows from
Operating Activities		      Cash Flows from
Investing Activities		     Cash Flows from
Financing Activities		     Cash and Cash Equivalents
at the end of the fiscal year		  
     ¥ million      ¥ million     ¥ million     ¥ million  

Fiscal 2022

      8,867,246        6,605,667       (611,143 )      65,825,681  

Fiscal 2021

      4,917,186        (1,860,490 )      (522,056 )      50,136,299  

2. Cash Dividends for Shareholders of Common Stock

 

     Annual Cash Dividends per Share      Total Cash Dividends
(Total)		      Dividends Pay-out
Ratio
(Consolidated basis)		      Dividends on Net
Assets
(Consolidated basis)		  
   First
quarter-end		      Second
quarter-end		      Third
quarter-end		      Fiscal
year-end		      Annual  
     ¥      ¥      ¥      ¥      ¥      ¥ million      %      %  

Fiscal 2021

      —          40.00        —          40.00        80.00        203,087        38.2        2.2  

Fiscal 2022

      —          42.50        —          42.50        85.00        215,772        38.7        2.3  

Fiscal 2023 (estimate)

      —          47.50        —          47.50        95.00           39.5     

3. Consolidated Earnings Estimates for Fiscal 2023 (for the fiscal year ending March 31, 2024)

 

(%: Changes from the corresponding period of the previous fiscal year)  
     Profit Attributable
to Owners of
Parent		      Net Income
per Share of
Common Stock		  
     ¥ million      %      ¥  

1H F2023

      —          —          —    

Fiscal 2023

      610,000        9.8        240.61  

Note:

   The number of shares of common stock used in the above calculation is based on the number of outstanding shares of common stock (excluding treasury stock) as of March 31, 2023.

Notes

(1) Changes in Significant Subsidiaries during the Fiscal Year (changes in specified subsidiaries accompanying changes in the scope of consolidation): No

(2) Changes in Accounting Policies and Accounting Estimates / Restatements

      i .  Changes in accounting policies due to revisions of accounting standards: Yes

      ii . Changes in accounting policies other than i above: No

      iii. Changes in accounting estimates: No

      iv. Restatements: No

      Note: For more information, please refer to “Changes in Accounting Policies” on page 1 – 14 of the attachment.

(3) Issued Shares of Common Stock

 

      i .  Year-end issued shares

           (including treasury stock):

     As of March 31, 2023       2,539,249,894 shares       As of March 31, 2022       2,539,249,894 shares  

      ii . Year-end treasury stock:

     As of March 31, 2023       5,027,306 shares       As of March 31, 2022       4,659,024 shares  

      iii. Average number of outstanding shares:

     Fiscal 2022       2,534,340,257 shares       Fiscal 2021       2,534,897,183 shares  

This immediate release is outside the scope of the audit.

 

 

This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance.

In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “endeavor,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target” and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: impact of geopolitical disruptions and the corona virus pandemic; intensification of competition in the market for financial services; incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our 5-Year Business Plan, and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3. D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 28, 2022, both of which are available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

 

 

Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1.   Overview of Consolidated Results of Operations and Financial Conditions      p.1-2  
  (1) Overview of Results of Operations      p.1-2  
  (2) Overview of Financial Conditions      p.1-3  
  (3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2022 and Dividend Estimates for Fiscal 2023      p.1-3  
2.   Basic Stance on Selection of Accounting Standards      p.1-4  
3.   Consolidated Financial Statements and Others      p.1-5  
  (1) Consolidated Balance Sheets      p.1-5  
  (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income      p.1-7  
  (3) Consolidated Statements of Changes in Net Assets      p.1-10  
  (4) Consolidated Statements of Cash Flows      p.1-12  
  (5) Notes regarding Consolidated Financial Statements      p.1-14  
 

(Matters Related to the Assumption of Going Concern)

   
 

(Changes in Accounting Policies)

   
 

(Business Segment Information)

   
 

(Per Share Information)

   
 

(Subsequent Events)

   

Note to XBRL

Please note that the names of the English accounts contained in XBRL data, which are available through EDINET and TDNet, may be different from those of the English accounts in our financial statements.

An MHFG IR conference for institutional investors and analysts is scheduled for Thursday, May 18, 2023. The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group website immediately after the conference.

 

1-1

Mizuho Financial Group, Inc.

 

1. Overview of Consolidated Results of Operations and Financial Conditions

(1) Overview of Results of Operations

Reviewing the economic environment over the fiscal year ended March 31, 2023, while demand continued to recover, supported by the transition to a world of living with COVID-19 and fiscal expenditure by each country, global inflation was triggered by structural shifts in the labor market, natural resource supply constraints caused by the situation in Ukraine and other factors. In addition, the impact of the heightened pace of monetary tightening, which is centered on Europe and the United States, materialized and the outlook for the global economy remained uncertain.

In the United States, the economy continued to grow steadily, mainly in terms of consumption, even under steep inflation and sudden monetary tightening by the Federal Reserve Board (FRB) in response thereto. Wages, which support consumption, remained high as a result of labor supply constraints stemming from strong demand for labor, the spread of COVID-19 and other factors. While the FRB continued to tighten monetary policy based on these circumstances, several financial institutions have gone bankrupt and the economic outlook has become increasingly uncertain.

In Europe, economic growth slowed due to surging resource prices and resource supply constraints caused by the situation in Ukraine. Although the rise in gas prices came to a pause, the rise in food prices and other factors continued to increase inflation, pushing down consumption. However, as not only price increases but also wage growth is accelerating, the European Central Bank (ECB) has continued to raise interest rates. The economy is expected to remain somewhat sluggish in the future, affected by the rising rate of inflation and interest rate hikes. In addition, there are concerns that the financial market turmoil caused by uncertainty over the business management of financial institutions will have a significant impact on monetary policy and economic trends.

In Asia, China has experienced weak real estate investment for a prolonged time and consumer sentiment has also remained weak due to the “Zero COVID” policy. After the end of the “Zero COVID” policy, the number of infections temporarily rose in a steep manner but the infection rate eventually stabilized. Led mainly by services consumption, China has recently been recovering at a gradual rate. However, considering China’s ongoing conflicts with the United States, there remains a high degree of uncertainty with respect to issues such as trade and national security. In emerging economies, the overall growth rate has been higher due to the relaxation of restrictions on activities. On the other hand, the trend of growth has recently slowed as the corresponding round of recovery of consumer demand following the COVID-19 pandemic has come to an end and the impact of inflation has slowed such growth.

In Japan, despite the weakened production activities of manufacturers due to sluggish capital investment and shortages of semiconductors, with the relaxation of restrictions on activities, gradual recovery is expected to continue mainly in domestic demand-oriented industries, such as service industries. Inflation rates that had been rising against the backdrop of increased resource prices and the depreciation of the yen are also expected to weaken in light of a pause in the surge in the commodity market. On the other hand, the slowdown of overseas economies due to monetary tightening in Europe and the United States that may diminish capital investments is a cause for concern. Concerns remain high about whether there will be a change in the financial policy of the Bank of Japan; and if the change is actually implemented, such change may affect the Japanese economy.

The prospects for the global economy are expected to remain uncertain given a lack of clarity as to the impact that global monetary tightening will have on the real economy. In addition, depending on the circumstances, such as the spread of financial system instabilities resulting from the bankruptcy of financial institutions in Europe and the United States, increasing tensions with respect to the situation in Ukraine and further worsening of inflation, particularly in the United States, there is a possibility of financial and capital market disruption and the risk of further economic downturn, which may also adversely affect the Japanese economy.

Under the foregoing business environment, we recorded Consolidated Gross Profits of ¥2,278.4 billion for fiscal 2022, increasing by ¥25.9 billion from the previous fiscal year. General and Administrative Expenses increased by ¥52.3 billion on a year-on-year basis to ¥1,445.2 billion mainly due to increasing expenses as a result of currency fluctuations whereas further progress in cost reduction through structural reform was achived.

 

1-2

Mizuho Financial Group, Inc.

 

As a result, Consolidated Net Business Profits decreased by ¥45.9 billion on a year-on-year basis to ¥805.2 billion. Consolidated Net Business Profits + Net gains or losses related to ETFs and others, which consists of Consolidated Net Business Profits, Net gains or losses related to ETFs and others on a non-consolidated aggregated basis of the banks, and Net gains or losses related to operating investment securities on a consolidated basis of Mizuho Securities Co., Ltd., decreased by ¥46.0 billion on a year-on-year basis to ¥807.1 billion mainly due to a decline in profits after booking unrealized losses on foreign bonds portfolio in Markets Groups whereas we had a steady business performance in Customer Groups especially overseas.

Credit-related Costs decreased by ¥145.8 billion on a year-on-year basis to ¥89.3 billion mainly due to the elimination of a large provision for reserves relating to certain customers recorded in the previous fiscal year.

Net Gains (Losses) related to Stocks increased by ¥130.3 billion on a year-on-year basis to net gains of ¥86.4 billion mainly due to the elimination of losses on the cancellation of bear funds intended on fixing unrealized gain on stocks recorded in the previous fiscal year in addition to steady progress in the sale of cross-holding stocks.

As a result, Ordinary Income increased by ¥229.7 billion on a year-on-year basis to ¥789.6 billion.

Extraordinary Gains (Losses) decreased by ¥54.6 billion on a year-on-year basis to net losses of ¥10.6 billion mainly due to the elimination of a large amount of gains on cancellation of employee retirement benefit trust recorded in the previous fiscal year.

Tax-related Expenses increased by ¥158.1 billion on a year-on-year basis to ¥218.8 billion mainly due to the elimination of the influence of the tax effect of capital optimization of Mizuho Securities Co., Ltd. as part of our financial structural reform recorded in the previous fiscal year.

As a result, Profit Attributable to Owners of Parent for fiscal 2022 increased by ¥25.0 billion on a year-on-year basis to ¥555.5 billion.

As for earnings estimates for fiscal 2023, we estimate Ordinary Profits of ¥860.0 billion and Profit Attributable to Owners of Parent of ¥610.0 billion on a consolidated basis.

We will disclose promptly if we need to revise the above consolidated earnings estimates.

(2) Overview of Financial Conditions

Consolidated total assets as of March 31, 2023 amounted to ¥254,258.2 billion, increasing by ¥17,192.0 billion from the end of the previous fiscal year mainly due to an increase in Cash and Due from Banks.

Securities were ¥37,363.1 billion, decreasing by ¥7,277.9 billion from the end of the previous fiscal year. Loans and Bills Discounted amounted to ¥88,687.1 billion, increasing by ¥3,950.8 billion from the end of the previous fiscal year. Deposits and Negotiable Certificates of Deposit amounted to ¥164,287.3 billion, increasing by ¥8,587.5 billion from the end of the previous fiscal year.

Net Assets amounted to ¥9,208.4 billion, increasing by ¥7.4 billion from the end of the previous fiscal year. Shareholders’ Equity was ¥8,471.1 billion, Accumulated Other Comprehensive Income was ¥662.1 billion, and Non-controlling Interests was ¥75.1 billion.

Net Cash Provided by Operating Activities was ¥8,867.2 billion mainly due to increased deposits. Net Cash Provided in Investing Activities was ¥6,605.6 billion mainly due to purchase, sale and redemption of securities, and Net Cash Used in Financing Activities was ¥611.1 billion mainly due to the redemption of subordinated bonds.

As a result, Cash and Cash Equivalents as of March 31, 2023 was ¥65,825.6 billion.

(3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2022 and Dividend Estimates for Fiscal 2023

Based on our capital management policy of pursuing the optimum balance between capital adequacy, growth investment and enhancement of shareholder return, we maintain our shareholder return policy of progressive dividends as our principal approach while executing flexible and intermittent share buybacks. In addition, as for the dividends, we will decide based on the steady growth of our stable earnings base, taking 40% of the dividend payout ratio as a guide into consideration. As for share buybacks, we will consider our business results and capital adequacy, our stock price and the opportunities for growth investment in determining the execution.

 

1-3

Mizuho Financial Group, Inc.

 

Based on this policy, at the meeting of the Board of Directors held today, we have decided to issue ¥42.5 of year-end cash dividends on common stock for Fiscal 2022 (annual cash dividends of ¥85.0 including interim dividends of ¥42.5) in accordance with the Dividend Estimate of an increase of ¥2.5, based on the fact that Profit Attributable to Owners of Parent for Fiscal 2022 was ¥555.5 billion.

Consolidated Common Equity Tier 1 capital ratio (Basel III finalization basis, excluding Net Unrealized Gains (Losses) on Other Securities) was 9.5%, thus again fulfilling our target level of the 5-Year Business Plan which was set at the lower end of the 9-10% range.

 

Year-end cash dividends on Common Stock

   ¥42.5 per share  

(unchanged from the estimate of an increase of ¥2.5)

Annual cash dividends incl. interim dividends

   ¥85.0 per share  

(unchanged from the estimate of an increase of ¥5.0)

Meanwhile, in accordance with the Articles of Incorporation, we may decide to issue dividends by resolution of the Board of Directors unless otherwise stipulated by laws and regulations.

As for the dividend estimates of common stock for Fiscal 2023, we predict ¥95.0 per share of common stock, which is an increase of ¥10.0 from Fiscal 2022. We intend to continue payments of cash dividends at the interim period to return profits to our shareholders in a timely manner.

 

(Dividend Estimates for Fiscal 2023)      

Common Stock

    Cash Dividends per Share    ¥ 95.0     

(Increase of ¥10.0 from Fiscal 2022)

  

of which Interim Dividends

    ¥ 47.5     

(Increase of ¥5.0 from Fiscal 2022)

2. Basic Stance on Selection of Accounting Standards

MHFG prepares its consolidated financial statements in accordance with Japanese Generally Accepted Accounting Principles. With respect to International Financial Reporting Standards (IFRS), in light of possible adoption in the future, MHFG is continuing research and study on the situation in Japan and overseas and/or the development of IFRS.

 

1-4

Mizuho Financial Group, Inc.

 

3. Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

 

     Millions of yen  
     As of
March 31,
2022		     As of
March 31,
2023		  

Assets

     

Cash and Due from Banks

    ¥ 51,359,301     ¥ 67,152,100  

Call Loans and Bills Purchased

      940,008       1,386,895  

Receivables under Resale Agreements

      12,750,363       11,693,419  

Guarantee Deposits Paid under Securities Borrowing Transactions

      2,340,089       1,897,429  

Other Debt Purchased

      3,476,021       3,836,735  

Trading Assets

      13,221,415       17,404,494  

Money Held in Trust

      591,183       514,607  

Securities

      44,641,060       37,363,140  

Loans and Bills Discounted

      84,736,280       88,687,155  

Foreign Exchange Assets

      2,627,492       2,408,587  

Derivatives other than for Trading Assets

      2,277,160       2,184,875  

Other Assets

      7,797,796       8,689,547  

Tangible Fixed Assets

      1,095,977       1,105,851  

Buildings

      340,016       325,241  

Land

      623,627       618,787  

Lease Assets

      4,675       6,333  

Construction in Progress

      21,737       43,679  

Other Tangible Fixed Assets

      105,919       111,808  

Intangible Fixed Assets

      601,292       572,719  

Software

      371,534       375,322  

Goodwill

      52,547       49,613  

Lease Assets

      1,823       2,098  

Other Intangible Fixed Assets

      175,387       145,685  

Net Defined Benefit Asset

      863,217       859,271  

Deferred Tax Assets

      184,594       316,168  

Customers’ Liabilities for Acceptances and Guarantees

      8,346,878       8,905,643  

Reserves for Possible Losses on Loans

      (783,886 )      (720,437 ) 

Reserve for Possible Losses on Investments

      (107 )      (1 ) 
  

 

 

    

 

 

  

Total Assets

    ¥ 237,066,142     ¥ 254,258,203  
  

 

 

    

 

 

  

 

1-5

Mizuho Financial Group, Inc.

 

     Millions of yen  
     As of
March 31,
2022		     As of
March 31,
2023		  

Liabilities

     

Deposits

    ¥ 138,830,872     ¥ 150,498,976  

Negotiable Certificates of Deposit

      16,868,931       13,788,347  

Call Money and Bills Sold

      1,278,050       1,814,873  

Payables under Repurchase Agreements

      20,068,779       25,735,560  

Guarantee Deposits Received under Securities Lending Transactions

      1,172,248       757,842  

Commercial Paper

      1,775,859       1,782,111  

Trading Liabilities

      9,608,976       12,698,007  

Borrowed Money

      6,590,527       4,155,480  

Foreign Exchange Liabilities

      1,508,453       671,552  

Short-term Bonds

      537,167       477,141  

Bonds and Notes

      10,714,004       11,371,189  

Due to Trust Accounts

      1,167,284       1,534,097  

Derivatives other than for Trading Liabilities

      2,770,852       2,749,138  

Other Liabilities

      6,301,484       7,777,025  

Reserve for Bonus Payments

      120,052       126,694  

Reserve for Variable Compensation

      2,278       2,381  

Net Defined Benefit Liability

      71,774       68,429  

Reserve for Director and Corporate Auditor Retirement Benefits

      557       539  

Reserve for Possible Losses on Sales of Loans

      1,309       15,049  

Reserve for Contingencies

      6,622       13,706  

Reserve for Reimbursement of Deposits

      17,620       13,695  

Reserve for Reimbursement of Debentures

      10,504       7,798  

Reserves under Special Laws

      3,132       3,352  

Deferred Tax Liabilities

      30,923       22,391  

Deferred Tax Liabilities for Revaluation Reserve for Land

      59,962       58,711  

Acceptances and Guarantees

      8,346,878       8,905,643  
  

 

 

    

 

 

  

Total Liabilities

    ¥ 227,865,110     ¥ 245,049,740  
  

 

 

    

 

 

  

Net Assets

     

Common Stock

    ¥ 2,256,767     ¥ 2,256,767  

Capital Surplus

      1,125,324       1,129,267  

Retained Earnings

      4,756,435       5,093,911  

Treasury Stock

      (8,342 )      (8,786 ) 
  

 

 

    

 

 

  

Total Shareholders’ Equity

      8,130,185       8,471,160  
  

 

 

    

 

 

  

Net Unrealized Gains (Losses) on Other Securities

      719,822       564,495  

Deferred Gains or Losses on Hedges

      (76,757 )      (358,102 ) 

Revaluation Reserve for Land

      132,156       129,321  

Foreign Currency Translation Adjustments

      2,346       144,093  

Remeasurements of Defined Benefit Plans

      169,652       182,306  

Own Credit Risk Adjustments, Net of Tax

      (23 )      19  
  

 

 

    

 

 

  

Total Accumulated Other Comprehensive Income

      947,197       662,133  
  

 

 

    

 

 

  

Stock Acquisition Rights

      94       5  

Non-controlling Interests

      123,555       75,163  
  

 

 

    

 

 

  

Total Net Assets

      9,201,031       9,208,463  
  

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 237,066,142     ¥ 254,258,203  
  

 

 

    

 

 

  

 

1-6

Mizuho Financial Group, Inc.

 

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

Consolidated Statements of Income

 

                                   
     Millions of yen  
     For the fiscal
year ended
March 31, 2022		     For the fiscal
year ended
March 31, 2023		  

Ordinary Income

    ¥ 3,963,091     ¥ 5,778,772   

Interest Income

      1,309,009       3,178,214  

Interest on Loans and Bills Discounted

      877,895       1,750,984  

Interest and Dividends on Securities

      275,393       392,104  

Interest on Call Loans and Bills Purchased

      1,426       13,898  

Interest on Receivables under Resale Agreements

      29,694       281,313  

Interest on Securities Borrowing Transactions

      2,431       22,411  

Interest on Due from Banks

      58,748       498,504  

Other Interest Income

      63,419       218,996  

Fiduciary Income

      60,490       58,958  

Fee and Commission Income

      905,575         915,534  

Trading Income

      1,017,889       992,631  

Other Operating Income

      393,956       452,853  

Other Ordinary Income

      276,170       180,579  

Recovery of Written-off Claims

      18,260       7,730  

Other

      257,910       172,848  

Ordinary Expenses

      3,403,244       4,989,165  

Interest Expenses

      315,550       2,217,636  

Interest on Deposits

      64,829       840,042  

Interest on Negotiable Certificates of Deposit

      15,436       209,222  

Interest on Call Money and Bills Sold

      1,149       17,140  

Interest on Payables under Repurchase Agreements

      36,356       651,987  

Interest on Securities Lending Transactions

      42       8,734  

Interest on Commercial Paper

      3,721       51,776  

Interest on Borrowed Money

      6,034       34,377  

Interest on Short-term Bonds

      68       71  

Interest on Bonds and Notes

      171,577       238,031  

Other Interest Expenses

      16,334       166,251  

Fee and Commission Expenses

      164,579       163,841  

Trading Expenses

      730,204       657,923  

Other Operating Expenses

      224,116       280,386  

General and Administrative Expenses

      1,392,896       1,445,283  

Other Ordinary Expenses

      575,896       224,095  

Provision for Reserves for Possible Losses on Loans

      236,491       65,698  

Other

      339,404       158,396  
  

 

 

    

 

 

  

Ordinary Profits

    ¥ 559,847     ¥ 789,606  
  

 

 

    

 

 

  

 

1-7

Mizuho Financial Group, Inc.

 

                                   
     Millions of yen  
     For the fiscal
year ended
March 31, 2022		     For the fiscal
year ended
March 31, 2023		  

Extraordinary Gains

    ¥ 78,196     ¥ 50,888  

Gains on Disposition of Fixed Assets

      3,938       3,260  

Gains on Cancellation of Employee Retirement Benefit Trust

      74,254       47,627  

Other Extraordinary Gains

      3       —    

Extraordinary Losses

      34,171       61,530  

Losses on Disposition of Fixed Assets

      6,585       7,462  

Losses on Impairment of Fixed Assets

      27,585       51,545  

Losses on Sales of Shares of Affiliates

      —         2,301  

Other Extraordinary Losses

      —         220  
  

 

 

    

 

 

  

Income before Income Taxes

      603,872       778,964  
  

 

 

    

 

 

  

Income Taxes:

     

Current

      130,079       180,716  

Refund of Income Taxes

      (12,738 )      (9,911 ) 

Deferred

      (56,652 )      48,029  
  

 

 

    

 

 

  

Total Income Taxes

      60,688       218,834  
  

 

 

    

 

 

  

Profit

      543,183       560,130  
  

 

 

    

 

 

  

Profit Attributable to Non-controlling Interests

      12,703       4,602  
  

 

 

    

 

 

  

Profit Attributable to Owners of Parent

    ¥ 530,479     ¥ 555,527  
  

 

 

    

 

 

  

 

1-8

Mizuho Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

                                   
     Millions of yen  
     For the fiscal
year ended
March 31, 2022		     For the fiscal
year ended
March 31, 2023		  

Profit

    ¥ 543,183     ¥ 560,130  

Other Comprehensive Income (Loss)

      (496,061 )      (282,463 ) 

Net Unrealized Gains (Losses) on Other Securities

      (411,077 )      (157,244 ) 

Deferred Gains or Losses on Hedges

      (108,186 )      (281,515 ) 

Foreign Currency Translation Adjustments

      130,612       127,170  

Remeasurements of Defined Benefit Plans

      (115,038 )      13,298  

Own Credit Risk Adjustments, Net of Tax

      (23 )      42  

Share of Other Comprehensive Income of Associates Accounted for Using Equity Method

      7,650       15,783  
  

 

 

    

 

 

  

Comprehensive Income

      47,121       277,666  
  

 

 

    

 

 

  

(Breakdown)

     

Comprehensive Income Attributable to Owners of Parent

      33,676       273,298  

Comprehensive Income Attributable to Non-controlling Interests

      13,444       4,368  

 

1-9

Mizuho Financial Group, Inc.

 

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2022

 

     Millions of yen  
     Shareholders’ Equity  
   Common
Stock		      Capital
Surplus		     Retained
Earnings		     Treasury
Stock		     Total Shareholders’
Equity		  

Balance as of the beginning of the period

      2,256,767        1,135,940       4,421,655       (7,124 )      7,807,239  

Cumulative Effects of Changes in Accounting Policies

           (724 )        (724 ) 

Balance as of the beginning of the period reflecting Changes in Accounting Policies

      2,256,767        1,135,940       4,420,931       (7,124 )      7,806,515  

Changes during the period

            

Cash Dividends

           (196,746 )        (196,746 ) 

Profit Attributable to Owners of Parent

           530,479         530,479  

Repurchase of Treasury Stock

             (2,869 )      (2,869 ) 

Disposition of Treasury Stock

         (54 )        1,651       1,597  

Transfer from Revaluation Reserve for Land

           4,227         4,227  

Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders

         (10,616 )          (10,616 ) 

Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others

           (2,402 )        (2,402 ) 

Transfer from Retained Earnings to Capital Surplus

         54       (54 )        —    

Net Changes in Items other than Shareholders’ Equity

            
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total Changes during the period

      —          (10,616 )      335,503       (1,217 )      323,669  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of the end of the period

      2,256,767        1,125,324       4,756,435       (8,342 )      8,130,185  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

    Accumulated Other Comprehensive Income     Stock
Acquisition
Rights		     Non-Controlling
Interests		     Total Net
Assets		  
  Net
Unrealized
Gains
(Losses)
on Other
Securities		     Deferred
Gains or
Losses on
Hedges		     Revaluation
Reserve for
Land		     Foreign
Currency
Translation
Adjustments		     Remeasurements
of Defined
Benefit Plans		     Own Credit
Risk
Adjustments,
Net of Tax		     Total
Accumulated
Other
Comprehensive
Income		  

Balance as of the beginning of the period

     1,132,460       31,618       136,384       (139,514 )      288,088       —         1,449,035       134       105,797       9,362,207  

Cumulative Effects of Changes in Accounting Policies

                 —             (724 ) 

Balance as of the beginning of the period reflecting Changes in Accounting Policies

     1,132,460       31,618       136,384       (139,514 )      288,088       —         1,449,035       134       105,797       9,361,483  

Changes during the period

                    

Cash Dividends

                       (196,746 ) 

Profit Attributable to Owners of Parent

                       530,479  

Repurchase of Treasury Stock

                       (2,869 ) 

Disposition of Treasury Stock

                       1,597  

Transfer from Revaluation Reserve for Land

                       4,227  

Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders

                       (10,616 ) 

Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others

                       (2,402 ) 

Transfer from Retained Earnings to Capital Surplus

                       —    

Net Changes in Items other than Shareholders’ Equity

     (412,638 )      (108,375 )      (4,227 )      141,861       (118,435 )      (23 )      (501,838 )      (40 )      17,757       (484,121 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Changes during the period

     (412,638 )      (108,375 )      (4,227 )      141,861       (118,435 )      (23 )      (501,838 )      (40 )      17,757       (160,451 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of the end of the period

     719,822       (76,757 )      132,156       2,346       169,652       (23 )      947,197       94       123,555       9,201,031  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

1-10

Mizuho Financial Group, Inc.

 

For the fiscal year ended March 31, 2023

 

     Millions of yen  
     Shareholders’ Equity  
   Common
Stock		      Capital
Surplus		     Retained
Earnings		     Treasury
Stock		     Total Shareholders’
Equity		  

Balance as of the beginning of the period

      2,256,767        1,125,324       4,756,435       (8,342 )      8,130,185  

Changes during the period

            

Cash Dividends

           (209,432 )        (209,432 ) 

Profit Attributable to Owners of Parent

           555,527         555,527  

Repurchase of Treasury Stock

             (2,314 )      (2,314 ) 

Disposition of Treasury Stock

         (255 )        1,870       1,615  

Transfer from Revaluation Reserve for Land

           2,834         2,834  

Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders

         4,064           4,064  

Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others

           (11,319 )        (11,319 ) 

Transfer from Retained Earnings to Capital Surplus

         134       (134 )        —    

Net Changes in Items other than Shareholders’ Equity

            
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total Changes during the period

      —          3,943       337,475       (443 )      340,975  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of the end of the period

      2,256,767        1,129,267       5,093,911       (8,786 )      8,471,160  
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

 

    Accumulated Other Comprehensive Income     Stock
Acquisition
Rights		     Non-Controlling
Interests		     Total Net
Assets		  
  Net
Unrealized
Gains
(Losses)
on Other
Securities		     Deferred
Gains
or Losses
on
Hedges		     Revaluation
Reserve for
Land		     Foreign
Currency
Translation
Adjustments		     Remeasurements
of Defined
Benefit Plans		     Own Credit
Risk
Adjustments,
Net of Tax		     Total
Accumulated
Other
Comprehensive
Income		  

Balance as of the beginning of the period

     719,822       (76,757 )      132,156       2,346       169,652       (23 )      947,197       94       123,555       9,201,031  

Changes during the period

                    

Cash Dividends

                       (209,432 ) 

Profit Attributable to Owners of Parent

                       555,527  

Repurchase of Treasury Stock

                       (2,314 ) 

Disposition of Treasury Stock

                       1,615  

Transfer from Revaluation Reserve for Land

                       2,834  

Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders

                       4,064  

Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others

                       (11,319 ) 

Transfer from Retained Earnings to Capital Surplus

                       —    

Net Changes in Items other than Shareholders’ Equity

     (155,326 )      (281,345 )      (2,834 )      141,746       12,654       42       (285,063 )      (88 )      (48,392 )      (333,544 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Changes during the period

     (155,326 )      (281,345 )      (2,834 )      141,746       12,654       42       (285,063 )      (88 )      (48,392 )      7,431  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance as of the end of the period

     564,495       (358,102 )      129,321       144,093       182,306       19       662,133       5       75,163       9,208,463  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

1-11

Mizuho Financial Group, Inc.

 

(4) Consolidated Statements of Cash Flows

 

                                           
     Millions of yen  
     For the fiscal year
ended
March 31, 2022		     For the fiscal year
ended
March 31, 2023		  

Cash Flow from Operating Activities

                                                                         

Income before Income Taxes

    ¥ 603,872     ¥ 778,964  

Depreciation

      161,897       163,166  

Losses on Impairment of Fixed Assets

      27,585       51,545  

Amortization of Goodwill

      3,741       3,771  

Equity in Loss (Gain) from Investments in Affiliates

      (25,434 )      (11,889 ) 

Increase (Decrease) in Reserves for Possible Losses on Loans

      194,340       (71,488 ) 

Increase (Decrease) in Reserve for Possible Losses on Investments

      106       (106 ) 

Increase (Decrease) in Reserve for Possible Losses on Sales of Loans

      234       13,740  

Increase (Decrease) in Reserve for Contingencies

      (202 )      6,115  

Increase (Decrease) in Reserve for Bonus Payments

      11,954       1,746  

Increase (Decrease) in Reserve for Variable Compensation

      (656 )      102  

Decrease (Increase) in Net Defined Benefit Asset

      56,392       69,067  

Increase (Decrease) in Net Defined Benefit Liability

      6,169       (4,506 ) 

Increase (Decrease) in Reserve for Director and Corporate Auditor Retirement Benefits

      (126 )      (17 ) 

Increase (Decrease) in Reserve for Reimbursement of Deposits

      (4,479 )      (3,924 ) 

Increase (Decrease) in Reserve for Reimbursement of Debentures

      (3,915 )      (2,706 ) 

Interest Income—accrual basis

      (1,309,009 )      (3,178,214 ) 

Interest Expenses—accrual basis

      315,550       2,217,636  

Losses (Gains) on Securities

      62,305       50,633  

Losses (Gains) on Money Held in Trust

      85       22  

Foreign Exchange Losses (Gains)—net

      (928,800 )      (662,938 ) 

Losses (Gains) on Disposition of Fixed Assets

      2,647       4,202  

Losses (Gains) on Cancellation of Employee Retirement Benefit Trust

      (74,254 )      (47,627 ) 

Decrease (Increase) in Trading Assets

      (201,023 )      (3,869,757 ) 

Increase (Decrease) in Trading Liabilities

      1,234,368       2,855,475  

Decrease (Increase) in Derivatives other than for Trading Assets

      (528,425 )      118,439  

Increase (Decrease) in Derivatives other than for Trading Liabilities

      996,914       (46,028 ) 

Decrease (Increase) in Loans and Bills Discounted

      1,343,307       (2,092,530 ) 

Increase (Decrease) in Deposits

      3,508,335       10,000,741  

Increase (Decrease) in Negotiable Certificates of Deposit

      (913,529 )      (3,395,330 ) 

Increase (Decrease) in Borrowed Money (excluding Subordinated Borrowed Money)

      (869,766 )      (2,436,997 ) 

Decrease (Increase) in Due from Banks (excluding Due from Central Banks)

      (125,565 )      (44,557 ) 

Decrease (Increase) in Call Loans, etc.

      (928,392 )      1,029,697  

Decrease (Increase) in Guarantee Deposits Paid under Securities Borrowing Transactions

      367,621       442,660  

Increase (Decrease) in Call Money, etc.

      (133,057 )      4,808,324  

Increase (Decrease) in Commercial Paper

      (551,464 )      (155,216 ) 

Increase (Decrease) in Guarantee Deposits Received under Securities Lending Transactions

      214,099       (414,405 ) 

Decrease (Increase) in Foreign Exchange Assets

      (398,661 )      357,779  

Increase (Decrease) in Foreign Exchange Liabilities

      973,697       (837,977 ) 

Increase (Decrease) in Short-term Bonds (Liabilities)

      81,121       (60,026 ) 

Increase (Decrease) in Bonds and Notes

      607,064       887,829  

Increase (Decrease) in Due to Trust Accounts

      6,676       366,812  

Interest and Dividend Income—cash basis

      1,424,865       3,027,958  

Interest Expenses—cash basis

      (273,855 )      (2,028,391 ) 

Other—net

      147,257       1,108,820  
  

 

 

    

 

 

  

Subtotal

      5,081,594       9,000,617  
  

 

 

    

 

 

  

Cash Refunded (Paid) in Income Taxes

      (164,408 )      (133,371 ) 
  

 

 

    

 

 

  

Net Cash Provided by (Used in) Operating Activities

      4,917,186       8,867,246  
  

 

 

    

 

 

  

 

1-12

Mizuho Financial Group, Inc.

 

                                           
     Millions of yen  
     For the fiscal year
ended
March 31, 2022		     For the fiscal year
ended
March 31, 2023		  

Cash Flow from Investing Activities

                                                                         

Payments for Purchase of Securities

      (102,478,445 )      (80,978,246 ) 

Proceeds from Sale of Securities

      57,161,461       44,652,769  

Proceeds from Redemption of Securities

      43,586,621       43,032,475  

Payments for Increase in Money Held in Trust

      (31,898 )      (3,843 ) 

Proceeds from Decrease in Money Held in Trust

      22,312       79,409  

Payments for Purchase of Tangible Fixed Assets

      (42,297 )      (64,845 ) 

Payments for Purchase of Intangible Fixed Assets

      (96,964 )      (118,331 ) 

Proceeds from Sale of Tangible Fixed Assets

      18,239       9,813  

Proceeds from Sale of Intangible Fixed Assets

      480       —    

Payments for Purchase of Stocks of Subsidiaries (affecting the scope of consolidation)

      —         (3,533 ) 
  

 

 

    

 

 

  

Net Cash Provided by (Used in) Investing Activities

      (1,860,490 )      6,605,667  
  

 

 

    

 

 

  

Cash Flow from Financing Activities

     

Proceeds from Subordinated Borrowed Money

      10,000       20,000  

Repayments of Subordinated Borrowed Money

      (4,000 )      (35,000 ) 

Proceeds from Issuance of Subordinated Bonds

      171,410       208,500  

Payments for Redemption of Subordinated Bonds

      (494,000 )      (544,615 ) 

Proceeds from Investments by Non-controlling Shareholders

      565       2,219  

Repayments to Non-controlling Shareholders

      (502 )      (324 ) 

Cash Dividends Paid

      (196,783 )      (209,457 ) 

Cash Dividends Paid to Non-controlling Shareholders

      (7,693 )      (10,459 ) 

Payments for Purchase of Stocks of Subsidiaries (not affecting the scope of consolidation)

      —         (41,307 ) 

Payments for Repurchase of Treasury Stock

      (1,927 )      (2,314 ) 

Proceeds from Sale of Treasury Stock

      873       1,615  

Payments for Repurchase of Treasury Stock of Subsidiaries

      (0 )      —    
  

 

 

    

 

 

  

Net Cash Provided by (Used in) Financing Activities

      (522,056 )      (611,143 ) 
  

 

 

    

 

 

  

Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents

      620,261       827,611  
  

 

 

    

 

 

  

Net Increase (Decrease) in Cash and Cash Equivalents

      3,154,900       15,689,381  
  

 

 

    

 

 

  

Cash and Cash Equivalents at the beginning of the fiscal year

      46,981,399       50,136,299  
  

 

 

    

 

 

  

Cash and Cash Equivalents at the end of the fiscal year

    ¥ 50,136,299     ¥ 65,825,681  
  

 

 

    

 

 

  

 

1-13

Mizuho Financial Group, Inc.

 

(5) Notes regarding Consolidated Financial Statements

(Matters Related to the Assumption of Going Concern)

There is no applicable information.

(Changes in Accounting Policies)

(Implementation Guidance on Accounting Standard for Fair Value Measurement)

MHFG has applied “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31, June 17, 2021 (referred to as “Fair Value Accounting Standard Implementation Guidance”)) from the beginning of the consolidated fiscal year ended March 31, 2023. In accordance with the transitional treatment set out in Paragraph 27-2 of “Fair Value Accounting Standard Implementation Guidance”, MHFG applies the new accounting policy set forth in “Fair Value Accounting Standard Implementation Guidance” prospectively. As a result, some Investment trusts and others are calculated using net asset value, etc., as of the calculation date of the fair value.

 

1-14

Mizuho Financial Group, Inc.

 

(Business Segment Information)

1. Summary of reportable segment

MHFG has introduced an in-house company system based on the group’s diverse customer segments.

The aim of this system is to leverage MHFG’s strengths and competitive advantage, which is the seamless integration of MHFG’s banking, trust and securities functions under a holding company structure, to speedily provide high-quality financial services that closely match customer needs.

Specifically, the company system is classified into the following five in-house companies, each based on a customer segment: the Retail & Business Banking Company, the Corporate & Institutional Company, the Global Corporate Company, the Global Markets Company, and the Asset Management Company.

The services that each in-house company is in charge of are as follows:

Retail & Business Banking Company:

Services for individual customers, small and medium-sized enterprises and middle market firms in Japan

Corporate & Institutional Company:

Services for large corporations, financial institutions and public corporations in Japan

Global Corporate Company:

Services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers, etc.

Global Markets Company:

Investment services with respect to interest rates, equities and credits, etc. , and other services

Asset Management Company:

Development of products and provision of services that match the asset management needs of its wide range of customers from individuals to institutional investors

The reportable segment information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments.

Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices.

2. Calculating method of Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others, Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others, and Fixed assets by reportable segment

The following information of reportable segment is based on internal management reporting.

Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others is the total amount of Interest Income, Fiduciary Income, Fee and Commission Income, Trading Income, Other Operating Income, and Net gains or losses related to ETFs and others.

Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others is the amount of which General and administrative expenses (excluding non-recurring expenses and others), Equity in income from investments in affiliates, and Amortization of goodwill and others (including amortization of intangible assets) are deducted from, or added to, Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others.

Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others relating to transactions between segments is based on the current market price.

Fixed assets disclosed as asset information by segment are the total amount of tangible fixed assets and intangible fixed assets. Fixed assets pertaining to Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd. have been allocated to each segment.

 

1-15

Mizuho Financial Group, Inc.

 

3. Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others, Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others, and Fixed assets by reportable segment

 

     Millions of yen  
     MHFG (Consolidated)        
     Retail &
Business
Banking
Company		     Corporate &
Institutional
Company		      Global
Corporate
Company		      Global
Markets
Company		      Asset
Management
Company		      Others
(Note 2)		        

Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others

      704,010       502,333        672,208        321,205        55,165        25,325       2,280,246  

General and administrative expenses (excluding Non-Recurring Losses and others)

      611,572       197,274        322,981        258,031        35,194        48,512       1,473,564  

Equity in income from investments in affiliates

      (17,036 )      6,376        22,781        —          241        (472 )      11,889  

Amortization of goodwill and others

      2,071       91        740        770        6,861        901       11,434  

Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others

      73,331       311,344        371,268        62,404        13,351        (24,561 )      807,136  

Fixed assets

      489,333       150,141        173,722        87,865        —          777,510       1,678,571  

 

Notes: 1.

    Gross profits (excluding the amounts of credit costs of trust accounts) +Net gains or losses related to ETFs and others is reported instead of sales reported by general corporations. Net gains or losses related to ETFs and others amounted to ¥ 1,840 million, of which ¥ (299) million is included in the Global Markets Company.

2.

    “Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.

3.

    “Others” in Fixed assets includes assets of headquarters that have not been allocated to each segment, Fixed assets pertaining to consolidated subsidiaries that are not subject to allocation, consolidated adjustments, and others.
   Among Fixed assets that have not been allocated to each segment, some related expenses are allocated to each segment using a reasonable criteria of allocation.

 

1-16

Mizuho Financial Group, Inc.

 

4. The difference between the total amounts of reportable segments and the recorded amounts in the Consolidated Statement of Income, and the contents of the difference (Matters relating to adjustment to difference)

The above amount of Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others and that of Net business profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others derived from internal management reporting by reportable segment are different from the amounts recorded in the Consolidated Statement of Income.

The contents of the difference for the period are as follows:

 

(1)

The total of Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others of Segment Information and Ordinary Profits recorded in the Consolidated Statement of Income

 

     Millions of yen  
     Amount  
Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others      2,280,246  

Net gains or losses related to ETFs and others

      (1,840 ) 

Other Ordinary Income

      180,579  

General and Administrative Expenses

      (1,445,283 ) 

Other Ordinary Expenses

      (224,095 ) 
  

 

 

  

Ordinary Profits recorded in Consolidated Statement of Income

      789,606  
  

 

 

  

 

(2)

The total of Net business profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others of Segment Information and Income before Income Taxes recorded in the Consolidated Statement of Income

 

     Millions of yen  
     Amount  

Net Business Profits

(excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others

      807,136  

General and Administrative Expenses (non-recurring losses)

      39,715  

Expenses related to Portfolio Problems (including reversal of (provision for) general reserve for losses on loans)

      (96,737 ) 

Gains on Reversal of Reserves for Possible Losses on Loans, and others

      7,426  

Net Gains (Losses) related to Stocks—Net Gains (Losses) related to ETFs and others

      84,633  

Net Extraordinary Gains (Losses)

      (10,641 ) 

Others

      (52,568 ) 
  

 

 

  

Income before Income Taxes recorded in Consolidated Statement of Income

      778,964  
  

 

 

  

 

1-17

Mizuho Financial Group, Inc.

 

(Per Share Information)

(Consolidated basis)

 

            Fiscal 2021      Fiscal 2022  

Net Assets per Share of Common Stock

       ¥    3,581.39      ¥    3,603.98  

Net Income per Share of Common Stock

       ¥ 209.27      ¥ 219.20  

Diluted Net Income per Share of Common Stock

                            ¥ 209.26      ¥ 219.19  

 

Notes: 1.

Total Net Assets per Share of Common Stock is based on the following information:

 

       Fiscal 2021      Fiscal 2022  

Net Assets per Share of Common Stock

 

      

Total Net Assets

    ¥ million        9,201,031        9,208,463  

Deductions from Total Net Assets

    ¥ million        123,649        75,168  

Stock Acquisition Rights

    ¥ million        94        5  

Non-Controlling Interests

    ¥ million        123,555        75,163  

Net Assets (year-end) related to Common Stock

    ¥ million        9,077,382        9,133,294  

Year-end Outstanding Shares of Common Stock, based on which Total Net Assets per Share
of Common Stock was calculated

     

 Thousands

of shares

  

 

        2,534,590          2,534,222  

 

  2.

Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock are based on the following information:

 

       Fiscal 2021      Fiscal 2022  

Net Income per Share of Common Stock

 

      

Profit Attributable to Owners of Parent

    ¥ million        530,479        555,527  

Amount not attributable to Common Stock

    ¥ million        —          —    

Profit Attributable to Owners of Parent related to Common Stock

    ¥ million        530,479        555,527  

Average Outstanding Shares of Common Stock (during the period)

     

 Thousands

of shares

  

 

        2,534,897          2,534,340  

Diluted Net Income per Share of Common Stock

 

      

Adjustment to Profit Attributable to Owners of Parent

    ¥ million        —          —    

Increased Number of Shares of Common Stock

     

 Thousands

of shares

  

 

      65        15  

Stock Acquisition Rights

     

 Thousands

of shares

  

 

      65        15  

Description of dilutive securities which were not included in the calculation of Diluted Net
Income per Share of Common Stock as they have no dilutive effects

         —          —    

 

1-18

Mizuho Financial Group, Inc.

 

  3.

In the calculation of Net Assets per Share of Common Stock, MHFG shares outstanding in BBT trust account that were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted from the number of issued shares as of March 31, 2022 and 2023. The numbers of such Treasury Stock shares deducted during the period ended March 31, 2022 and 2023 are 3,079 thousand and 3,231 thousand, respectively.

 

   

In the calculation of Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock, such Treasury Stock shares are included in Treasury Stock shares deducted in the calculation of the Average Outstanding Shares of Common Stock during the period. The average numbers of such Treasury Stock shares deducted during the period ended March 31, 2022 and 2023 are 2,892 thousand and 3,275 thousand, respectively.

(Subsequent Events)

There is no applicable information.

 

1-19

SELECTED FINANCIAL INFORMATION

For Fiscal 2022

(Under Japanese GAAP)

 

 

LOGO

C O N T E N T S

 

 

Notes:

“CON”: Consolidated figures for Mizuho Financial Group, Inc. (“MHFG”)

“NON”: Non-consolidated figures for Mizuho Financial Group, Inc., Mizuho Bank, Ltd. (“MHBK”) and Mizuho Trust & Banking Co., Ltd. (“MHTB”)

 

 

 

I. FINANCIAL DATA FOR FISCAL 2022

    See above Notes      Page  

1. Income Analysis

      CON        NON        2- 1    

2. Interest Margins (Domestic Operations)

      NON           2- 5    

3. Use and Source of Funds

      NON           2- 6    

4. Net Gains/Losses on Securities

      CON        NON        2- 8    

5. Unrealized Gains/Losses on Securities

      CON        NON        2- 10  

6. Projected Redemption Amounts for Securities

      NON           2- 12  

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

      NON           2- 13  

8. Employee Retirement Benefits

      NON        CON        2- 14  

9. Capital Ratio

      CON        NON        2- 17  

II. REVIEW OF CREDITS

    See above Notes      Page  

1. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial Reconstruction Act (“FRA”)

      CON        NON        2- 18  

2. Status of Reserves for Possible Losses on Loans

      CON        NON        2- 22  

3. Reserve Ratios for Non Performing Loans based on the BA and the FRA

      CON        NON        2- 23  

4. Coverage on Non Performing Loans based on the BA and the FRA

      NON           2- 24  

5. Overview of Non-Performing Loans(“NPLs”)

      NON           2- 27  

6. Results of Removal of NPLs from the Balance Sheet

      NON           2- 28  

7. Status of Loans by Industry

         

(1) Outstanding Balances by Industry

      NON           2- 29  

(2) Non Performing Loans based on the BA and the FRA and Coverage Ratio by Industry

      NON           2- 31  

8. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises (“SMEs”) and Individual Customers

         

(1) Balance of Housing and Consumer Loans

      NON           2- 32  

(2) Loans to SMEs and Individual Customers

      NON           2- 32  

9. Status of Loans by Region

         

(1) Outstanding Balances by Region

      NON           2- 33  

(2) Non Performing Loans based on the BA and the FRA by Region

      NON           2- 34  

III. DEFERRED TAXES

    See above Notes      Page  

1. Estimation for Calculating Deferred Tax Assets

      NON           2- 35  

IV. OTHERS

    See above Notes      Page  

1. Breakdown of Deposits (Domestic Offices)

      NON           2- 37  

2. Number of Directors and Employees

            2- 38  

3. Number of Offices

            2- 38  

4. Earnings Plan for Fiscal 2023

      CON        NON        2- 39  

Attachments

                               Page  

Mizuho Bank, Ltd.

                               

Comparison of Non-Consolidated Balance Sheets (selected items)

            2- 40  

Comparison of Non-Consolidated Statements of Income (selected items)

            2- 41  

Mizuho Trust & Banking Co., Ltd.

         

Comparison of Non-Consolidated Balance Sheets (selected items)

            2- 42  

Comparison of Non-Consolidated Statements of Income (selected items)

            2- 43  

Statement of Trust Assets and Liabilities

            2- 44  

Comparison of Balances of Principal Items

            2- 45  

Mizuho Securities Co., Ltd.

         

Comparison of Non-Consolidated Balance Sheets (selected items)

            2- 46  

Comparison of Non-Consolidated Statements of Income (selected items)

            2- 47  

 

 

This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance.

In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “endeavor,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target” and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: impact of geopolitical disruptions and the corona virus pandemic; intensification of competition in the market for financial services; incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our 5-Year Business Plan and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 28, 2022, both of which are available in the Financial Information section of our web page at www.mizuho-fg.com/index.html and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

 

Mizuho Financial Group, Inc.

 

I. FINANCIAL DATA FOR FISCAL 2022

1. Income Analysis

Consolidated

 

            (Millions of yen)  
            Fiscal 2022     Fiscal 2021  
                  Change        

Consolidated Gross Profits

      1        2,278,405       25,936       2,252,469  

Net Interest Income

      2        960,578       (32,879 )      993,458  

Fiduciary Income

      3        58,958       (1,531 )      60,490  

Credit Costs for Trust Accounts

      4        —         —         —    

Net Fee and Commission Income

      5        751,693       10,697       740,995  

Net Trading Income

      6        334,708       47,023       287,685  

Net Other Operating Income

      7        172,466       2,626       169,839  

General and Administrative Expenses

      8        (1,445,283 )      (52,387 )      (1,392,896 ) 

Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)

      9        (96,737 )      159,203       (255,941 ) 

Losses on Write-offs of Loans

      10        (16,234 )      (4,259 )      (11,975 ) 

Gains on Reversal of Reserves for Possible Losses on Loans, and others

      11        7,426       (13,339 )      20,765  

Net Gains (Losses) related to Stocks

      12        86,474       130,321       (43,846 ) 

Equity in Income from Investments in Affiliates

      13        11,889       (13,545 )      25,434  

Other

      14        (52,568 )      (6,430 )      (46,137 ) 
     

 

 

    

 

 

    

 

 

  

Ordinary Profits

      15        789,606       229,759       559,847  
     

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

      16        (10,641 )      (54,666 )      44,024  

Income before Income Taxes

      17        778,964       175,092       603,872  

Income Taxes - Current

      18        (170,805 )      (53,464 )      (117,341 ) 

- Deferred

      19        (48,029 )      (104,681 )      56,652  

Profit

      20        560,130       16,947       543,183  

Profit Attributable to Non-controlling Interests

      21        (4,602 )      8,100       (12,703 ) 
     

 

 

    

 

 

    

 

 

  

Profit Attributable to Owners of Parent

      22        555,527       25,047       530,479  
     

 

 

    

 

 

    

 

 

  

Credit-related Costs (including Credit Costs for Trust Accounts)

      23        (89,311 )      145,864       (235,175 ) 

 

* Credit-related Costs [23] = Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans) [9] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [11] + Credit Costs for Trust Accounts [4]

 

(Reference)          

Consolidated Net Business Profits

      24          805,296       (45,963 )        851,259  

 

* Consolidated Net Business Profits [24] = Consolidated Gross Profits [1] - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

 

Number of consolidated subsidiaries

      25                  178                    15                       163  

Number of affiliates under the equity method

      26        25       1       24  

 

2-1

Mizuho Financial Group, Inc.

 

Aggregate Figures for the 2 Banks

Non-Consolidated

 

            (Millions of yen)  
            Fiscal 2022     Fiscal 2021  
            MHBK     MHTB     Aggregate
Figures		     Change        

Gross Profits

      1        1,321,194       109,836       1,431,031       (37,620 )      1,468,651  

Domestic Gross Profits

      2        827,090       109,921       937,012       84,877       852,134  

Net Interest Income

      3        454,676       19,635       474,312       2,923       471,388  

Fiduciary Income

      4          59,527       59,527       (1,500 )      61,028  

Trust Fees for Jointly Operated Designated Money Trust

      5          4,005       4,005       49       3,955  

Credit Costs for Trust Accounts (1)

      6          —         —         —         —    

Net Fee and Commission Income

      7        260,337       30,947       291,285       (6,577 )      297,862  

Net Trading Income

      8        64,015       —         64,015       51,612       12,402  

Net Other Operating Income

      9        48,060       (189 )      47,870       38,418       9,452  

International Gross Profits

      10        494,104       (85 )      494,019       (122,497 )      616,516  

Net Interest Income

      11        416,221       67       416,289       (18,431 )      434,721  

Net Fee and Commission Income

      12        150,898       (166 )      150,732       13,338       137,394  

Net Trading Income

      13        (58,025 )      —         (58,025 )      (46,647 )      (11,378 ) 

Net Other Operating Income

      14        (14,990 )      13       (14,976 )      (70,756 )      55,779  

General and Administrative Expenses (excluding Non-Recurring Losses)

      15        (777,433 )      (79,206 )      (856,639 )      1,267       (857,906 ) 

Expense Ratio

      16        58.8 %      72.1 %      59.8 %      1.4 %      58.4 % 

Personnel Expenses

      17        (298,450 )      (38,662 )      (337,113 )      3,084       (340,197 ) 

Non-Personnel Expenses

      18        (433,914 )      (36,838 )      (470,753 )      (2,708 )      (468,044 ) 

Premium for Deposit Insurance

      19        (15,326 )      (498 )      (15,825 )      17,746       (33,571 ) 

Miscellaneous Taxes

      20        (45,067 )      (3,705 )      (48,773 )      892       (49,665 ) 
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)

      21        543,761       30,630       574,391       (36,353 )      610,744  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas (2)

      22        727,500       30,641       758,142       97,934       660,207  

Excluding Net Gains (Losses) from redemption of Investment Trusts

      23        703,966       30,641       734,608       91,860       642,748  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reversal of (Provision for) General Reserve for Losses on Loans

      24        (45,325 )      (1,199 )      (46,524 )      (156,678 )      110,153  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Business Profits

      25        498,436       29,430       527,866       (193,031 )      720,898  

Net Gains (Losses) related to Bonds

      26        (183,738 )      (11 )      (183,750 )      (134,287 )      (49,462 ) 
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Non-Recurring Gains (Losses)

      27        60,734       8,620       69,354       528,798       (459,443 ) 

Net Gains (Losses) related to Stocks

      28        57,896       2,892       60,788       108,191       (47,402 ) 

Expenses related to Portfolio Problems

      29        3,212       61       3,273       437,310       (434,036 ) 

Gains on Reversal of Reserves for Possible Losses on Loans, and others

      30        6,955       1       6,956       (13,226 )      20,183  

Other

      31        (7,330 )      5,666       (1,663 )      (3,476 )      1,812  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ordinary Profits

      32        559,170       38,051       597,221       335,767       261,454  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

      33        28,942       (41 )      28,900       (16,486 )      45,387  

Net Gains (Losses) on Disposition of Fixed Assets

      34        (4,225 )      (136 )      (4,361 )      (2,832 )      (1,528 ) 

Losses on Impairment of Fixed Assets

      35        (12,936 )      (5,271 )      (18,207 )      9,131       (27,338 ) 

Gains on Cancellation of Employee Retirement Benefit Trust

      36        45,553       2,074       47,627       (26,626 )      74,254  

Income before Income Taxes

      37        588,112       38,009       626,122       319,280       306,841  

Income Taxes - Current

      38        (106,291 )      (10,043 )      (116,335 )      54,076       (170,411 ) 

- Deferred

      39        (85,659 )      (995 )      (86,654 )      (169,490 )      82,836  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Income

      40        396,161       26,970       423,132       203,866       219,265  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)   Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB excludes the amounts of “Credit Costs for Trust Accounts” [6].

    

(2)   Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas[22]

    =Net Business Profits(before Reversal of (Provision for) General Reserve for Losses on Loans)[21]-Net Gains (Losses) related to Bonds[26]

    

     

Credit-related Costs

      41        (35,157 )      (1,137 )      (36,295 )      267,405       (303,700)  

 

Credit-related Costs [41]  =   Expenses related to Portfolio Problems [29] + Reversal of (Provision for) General Reserve for Losses on Loans [24] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [30] + Credit Costs for Trust Accounts [6]

 

(Reference) Breakdown of Credit-related Costs

              

Credit Costs for Trust Accounts

      42          —         —         —         —    

Reversal of (Provision for) General Reserve for Losses on Loans

      43        (45,325 )      (1,199 )      (46,524 )      (157,479 )      110,954  

Losses on Write-offs of Loans

      44        (8,337 )      (6 )      (8,343 )      (15,635 )      7,291  

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

      45        9,387       68       9,456       379,234       (369,777 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

      46        15,181       —         15,181       68,474       (53,293 ) 

Reversal of (Provision for) Reserve for Contingencies

      47        (3,380 )      —         (3,380 )      (5,442 )      2,062  

Other (including Losses on Sales of Loans)

      48        (2,684 )      —         (2,684 )      (1,745 )      (938 ) 

Total

      49        (35,157 )      (1,137 )      (36,295 )      267,405       (303,700 ) 

 

2-2

Mizuho Financial Group, Inc.

 

Mizuho Bank

Non-Consolidated

 

          (Millions of yen)  
          Fiscal 2022     Fiscal 2021  
                    Change            

Gross Profits

    1      1,321,194       (25,129 )      1,346,323  

Domestic Gross Profits

    2      827,090       97,092       729,997  

Net Interest Income

    3      454,676       2,094       452,582  

Net Fee and Commission Income

    4      260,337       5,060       255,277  

Net Trading Income

    5      64,015       50,983       13,031  

Net Other Operating Income

    6      48,060       38,954       9,106  

International Gross Profits

    7      494,104       (122,221 )      616,325  

Net Interest Income

    8      416,221       (17,985 )      434,207  

Net Fee and Commission Income

    9      150,898       13,182       137,716  

Net Trading Income

    10      (58,025 )      (46,658 )      (11,367 ) 

Net Other Operating Income

    11      (14,990 )      (70,759 )      55,768  

General and Administrative Expenses (excluding Non-Recurring Losses)

    12      (777,433 )      590       (778,023 ) 

Expense Ratio

    13      58.8 %          1.0 %          57.7 % 

Personnel Expenses

    14      (298,450 )      3,754       (302,204 ) 

Non-Personnel Expenses

    15      (433,914 )      (3,923 )      (429,991 ) 

Premium for Deposit Insurance

    16      (15,326 )      17,128       (32,455 ) 

Miscellaneous Taxes

    17      (45,067 )      760       (45,827 ) 
     

 

 

    

 

 

    

 

 

  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)

    18      543,761       (24,538 )      568,299  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas *

    19      727,500       109,730       617,769  

Excluding Net Gains (Losses) from redemption of Investment Trusts

    20      703,966       103,646       600,320  
     

 

 

    

 

 

    

 

 

  

Reversal of (Provision for) General Reserve for Losses on Loans

    21      (45,325 )      (155,478 )      110,153  
     

 

 

    

 

 

    

 

 

  

Net Business Profits

    22      498,436       (180,017 )      678,453  

Net Gains (Losses) related to Bonds

    23      (183,738 )      (134,269 )      (49,469 ) 
     

 

 

    

 

 

    

 

 

  

Net Non-Recurring Gains (Losses)

    24      60,734       528,328       (467,594 ) 

Net Gains (Losses) related to Stocks

    25      57,896       109,019       (51,123 ) 

Expenses related to Portfolio Problems

    26      3,212       437,173       (433,961 ) 

Gains on Reversal of Reserves for Possible Losses on Loans, and others

    27      6,955       (12,511 )      19,466  

Other

    28      (7,330 )      (5,353 )      (1,976 ) 
     

 

 

    

 

 

    

 

 

  

Ordinary Profits

    29      559,170       348,311       210,858  
     

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

    30      28,942       (9,145 )      38,088  

Net Gains (Losses) on Disposition of Fixed Assets

    31      (4,225 )      (2,960 )      (1,264 ) 

Losses on Impairment of Fixed Assets

    32      (12,936 )      14,222       (27,158 ) 

Gains on Cancellation of Employee Retirement Benefit Trust

    33      45,553       (20,958 )      66,511  

Income before Income Taxes

    34      588,112       339,165       248,946  

Income Taxes - Current

    35      (106,291 )      53,469       (159,760 ) 

- Deferred

    36      (85,659 )      (173,055 )      87,395  
     

 

 

    

 

 

    

 

 

  

Net Income

    37      396,161       219,579       176,581  
     

 

 

    

 

 

    

 

 

  

 

*   Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas[19]
=Net Business Profits(before Reversal of (Provision for) General Reserve for Losses on Loans)[18]-Net Gains (Losses) related to Bonds[23]

    

Credit-related Costs

    38      (35,157 )      269,183       (304,341 ) 

 

Credit-related Costs [38]   =  Expenses  related to Portfolio Problems [26] + Reversal of (Provision for) General Reserve for Losses on Loans [21]
  + Gains on Reversal of Reserves for Possible Losses on Loans, and others [27]

 

(Reference) Breakdown of Credit-related Costs          

Reversal of (Provision for) General Reserve for Losses on Loans

    39      (45,325 )      (155,478 )      110,153  

Losses on Write-offs of Loans

    40      (8,337 )      (15,700 )      7,362  

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

    41      9,387       379,076       (369,688 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

    42      15,181       68,474       (53,293 ) 

Reversal of (Provision for) Reserve for Contingencies

    43      (3,380 )      (5,442 )      2,062  

Other (including Losses on Sales of Loans)

    44      (2,684 )      (1,745 )      (938 ) 

Total

    45      (35,157 )      269,183       (304,341 ) 

 

2-3

Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking

Non-Consolidated

 

          (Millions of yen)  
          Fiscal 2022     Fiscal 2021  
                    Change            

Gross Profits

    1         109,836       (12,491 )         122,327  

Domestic Gross Profits

    2      109,921       (12,215 )      122,137  

Net Interest Income

    3      19,635       829       18,806  

Fiduciary Income

    4      59,527       (1,500 )      61,028  

Trust Fees for Jointly Operated Designated Money Trust

    5      4,005       49       3,955  

Credit Costs for Trust Accounts (1)

    6      —         —         —    

Net Fee and Commission Income

    7      30,947       (11,637 )      42,585  

Net Trading Income

    8      —         629       (629 ) 

Net Other Operating Income

    9      (189 )      (536 )      346  

International Gross Profits

    10      (85 )      (276 )      190  

Net Interest Income

    11      67       (446 )      514  

Net Fee and Commission Income

    12      (166 )      156       (322 ) 

Net Trading Income

    13      —         11       (11 ) 

Net Other Operating Income

    14      13       2       10  

General and Administrative Expenses (excluding Non-Recurring Losses)

    15      (79,206 )      676       (79,882 ) 

Expense Ratio

    16      72.1 %          6.8 %          65.3 % 

Personnel Expenses

    17      (38,662 )      (670 )      (37,992 ) 

Non-Personnel Expenses

    18      (36,838 )      1,214       (38,053 ) 

Premium for Deposit Insurance

    19      (498 )      617       (1,115 ) 

Miscellaneous Taxes

    20      (3,705 )      131       (3,837 ) 
     

 

 

    

 

 

    

 

 

  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)

    21      30,630       (11,814 )      42,445  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas (2)

    22      30,641       (11,795 )      42,437  

Excluding Net Gains (Losses) from redemption of Investment Trusts

    23      30,641       (11,786 )      42,428  
     

 

 

    

 

 

    

 

 

  

Reversal of (Provision for) General Reserve for Losses on Loans

    24      (1,199 )      (1,199 )      —    
     

 

 

    

 

 

    

 

 

  

Net Business Profits

    25      29,430       (13,014 )      42,445  

Net Gains (Losses) related to Bonds

    26      (11 )      (18 )      7  
     

 

 

    

 

 

    

 

 

  

Net Non-Recurring Gains (Losses)

    27      8,620       469       8,150  

Net Gains (Losses) related to Stocks

    28      2,892       (828 )      3,720  

Expenses related to Portfolio Problems

    29      61       136       (75 ) 

Gains on Reversal of Reserves for Possible Losses on Loans, and others

    30      1       (715 )      716  

Other

    31      5,666       1,876       3,789  
     

 

 

    

 

 

    

 

 

  

Ordinary Profits

    32      38,051       (12,544 )      50,595  
     

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

    33      (41 )      (7,340 )      7,298  

Net Gains (Losses) on Disposition of Fixed Assets

    34      (136 )      127       (264 ) 

Losses on Impairment of Fixed Assets

    35      (5,271 )      (5,091 )      (179 ) 

Gains on Cancellation of Employee Retirement Benefit Trust

    36      2,074       (5,668 )      7,742  

Income before Income Taxes

    37      38,009       (19,884 )      57,894  

Income Taxes - Current

    38      (10,043 )      607       (10,651 ) 

- Deferred

    39      (995 )      3,564       (4,559 ) 
     

 

 

    

 

 

    

 

 

  

Net Income

    40      26,970       (15,712 )      42,683  
     

 

 

    

 

 

    

 

 

  

 

(1)  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) excludes the amounts of “Credit Costs for Trust Accounts” [6].

   

(2)  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas[22]

=Net Business Profits(before Reversal of (Provision for) General Reserve for Losses on Loans)[21]-Net Gains (Losses) related to Bonds[26]

   

 

Credit-related Costs

    41      (1,137 )      (1,778 )      640  

 

Credit-related Costs [41]   =  Expenses related to Portfolio Problems [29] + Reversal of (Provision for) General Reserve for Losses on Loans [24]
+ Gains on Reversal of Reserves for Possible Losses on Loans, and others [30] + Credit Costs for Trust Accounts [6]

   

(Reference) Breakdown of Credit-related Costs

          

Credit Costs for Trust Accounts

    42      —         —         —    

Reversal of (Provision for) General Reserve for Losses on Loans

    43      (1,199 )      (2,000)       801  

Losses on Write-offs of Loans

    44      (6 )      64       (70 ) 

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

    45      68       158       (89 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

    46      —         —         —    

Reversal of (Provision for) Reserve for Contingencies

    47      —         —         —    

Other (including Losses on Sales of Loans)

    48      —         —         —    

Total

    49      (1,137 )      (1,778 )      640  

 

2-4

Mizuho Financial Group, Inc.

 

2. Interest Margins (Domestic Operations)

Non-Consolidated

 

                 (%)  
                 Fiscal 2022     Fiscal
2021		  
Mizuho Bank                      Change        

Return on Interest-Earning Assets

       1      0.43       0.03       0.39  

Return on Loans and Bills Discounted *1

       2      0.75       0.01       0.74  

Return on Securities

       3      0.34       (0.01 )      0.36  

Cost of Funding (including Expenses)

       4      0.51       (0.01 )      0.52  

Cost of Deposits (including Expenses)

       5      0.52       (0.02 )      0.54  

Cost of Deposits *2

       6      0.00       (0.00 )      0.00  

Cost of Other External Liabilities

       7      0.26       (0.02 )      0.29  
        

 

 

    

 

 

    

 

 

  

Net Interest Margin

      (1)-(4)      8      (0.08 )      0.05       (0.13 ) 

Loan and Deposit Rate Margin (including Expenses)

      (2)-(5)      9      0.23       0.03       0.20  

Loan and Deposit Rate Margin

      (2)-(6)      10      0.75       0.01       0.74  
        

 

 

    

 

 

    

 

 

  

 

*1   Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).

    

*2   Deposits include Negotiable Certificates of Deposit (“NCDs”).

    

(Reference) After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

       11      0.77       0.01       0.75  

Loan and Deposit Rate Margin (including Expenses)

      (11)-(5)      12      0.25       0.03       0.21  

Loan and Deposit Rate Margin

      (11)-(6)      13      0.77       0.01       0.75  
                 (%)  
                 Fiscal 2022     Fiscal
2021		  
Mizuho Trust & Banking                      Change        

Return on Interest-Earning Assets

       14      0.50       0.01       0.49  

Return on Loans and Bills Discounted *1

       15      0.60       0.01       0.59  

Return on Securities

       16      2.51       0.37       2.13  

Cost of Funding

       17      0.11       (0.01 )      0.13  

Cost of Deposits *2

       18      0.00       (0.00 )      0.01  
        

 

 

    

 

 

    

 

 

  

Net Interest Margin

      (14)-(17)      19      0.38       0.02       0.36  

Loan and Deposit Rate Margin

      (15)-(18)      20      0.59       0.01       0.58  
        

 

 

    

 

 

    

 

 

  

 

*1   Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).

    

*2   Deposits include NCDs.

    

(Reference) After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

       21      0.60       0.00       0.60  

Loan and Deposit Rate Margin

      (21)-(18)      22      0.59       0.00       0.59  
                                        
(Reference)                (%)  
                 Fiscal 2022     Fiscal 2021  
Aggregate Figures for the 2 Banks                      Change        

Return on Loans and Bills Discounted *1

       23      0.74       0.01       0.73  

Cost of Deposits *2

       24      0.00       (0.00 )      0.00  
        

 

 

    

 

 

    

 

 

  

Loan and Deposit Rate Margin

      (23)-(24)      25      0.74       0.01       0.73  
        

 

 

    

 

 

    

 

 

  

 

*1   Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).

    

*2   Deposits include NCDs.

    

(Reference) After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

       26      0.76       0.01       0.74  

Loan and Deposit Rate Margin

      (26)-(24)      27      0.76       0.01       0.74  

 

2-5

Mizuho Financial Group, Inc.

 

3. Use and Source of Funds

Non-Consolidated

Mizuho Bank

 

     (Millions of yen, %)  
     Fiscal 2022      Fiscal 2021  
                   Change                
     Average
Balance		      Rate      Average Balance     Rate      Average Balance      Rate  

(Total)

                 

Use of Funds

      182,630,345        1.45        (4,497,008 )      0.85        187,127,354        0.60  

Loans and Bills Discounted

      87,092,723        1.85        4,450,395       0.91        82,642,328        0.93  

Securities

      40,359,316        0.92        (2,459,382 )      0.31        42,818,698        0.60  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      195,136,869        0.91        8,282,095       0.78        186,854,774        0.13  

Deposits

      138,803,255        0.57        9,355,277       0.55        129,447,977        0.02  

NCDs

      19,435,079        1.03        (561,533 )      0.97        19,996,613        0.06  

(Domestic Operations)

                 

Use of Funds

      115,947,840        0.43        (11,029,414 )      0.03        126,977,255        0.39  

Loans and Bills Discounted

      52,341,831        0.74        59,164       0.00        52,282,666        0.73  

Securities

      26,650,831        0.34        (734,337 )      (0.01 )       27,385,169        0.36  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      125,906,095        0.03        355,017       (0.00 )       125,551,077        0.04  

Deposits

      103,302,605        0.00        3,003,199       (0.00 )       100,299,405        0.00  

NCDs

      12,294,568        0.00        (1,089,933 )      (0.00 )       13,384,502        0.00  

(International Operations)

                 

Use of Funds

      71,722,336        3.00        7,713,998       2.01        64,008,337        0.99  

Loans and Bills Discounted

      34,750,892        3.53        4,391,230       2.23        30,359,661        1.29  

Securities

      13,708,484        2.02        (1,725,044 )      0.98        15,433,528        1.04  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      74,270,605        2.34        9,108,670       2.03        65,161,934        0.30  

Deposits

      35,500,650        2.26        6,352,078       2.14        29,148,571        0.11  

NCDs

      7,140,511        2.82        528,400       2.64        6,612,111        0.17  

 

2-6

Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking (Banking Account)

     (Millions of yen, %)  
     Fiscal 2022      Fiscal 2021  
                   Change                
     Average
Balance		      Rate      Average Balance     Rate      Average Balance      Rate  

(Total)

                 

Use of Funds

      5,156,002        0.50        (97,174 )      0.00            5,253,176        0.50  

Loans and Bills Discounted

          3,161,285        0.61        (71,994 )      0.00        3,233,280        0.60  

Securities

      210,090        2.42        (27,971 )      0.35        238,061        2.06  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      5,491,647        0.11        249,174       (0.01 )       5,242,473        0.13  

Deposits

      2,646,057        0.00        (127,740 )      (0.00 )       2,773,797        0.01  

NCDs

      644,477        0.00              (44,545 )      (0.00 )       689,023        0.00  

(Domestic Operations)

                 

Use of Funds

      5,138,769        0.50        (80,006 )      0.01        5,218,775        0.49  

Loans and Bills Discounted

      3,135,620        0.60        (55,143 )      0.00        3,190,763        0.59  

Securities

      201,800        2.51        (28,006 )      0.37        229,807        2.13  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      5,474,337        0.11        266,591       (0.01 )       5,207,746        0.13  

Deposits

      2,642,826        0.00        (127,108 )      (0.00 )       2,769,934        0.01  

NCDs

      644,477        0.00        (44,545 )      (0.00 )       689,023        0.00  
(International Operations)                 

Use of Funds

      40,643        1.04        (19,869 )      0.01        60,512        1.03  

Loans and Bills Discounted

      25,665        1.56        (16,850 )      0.15        42,516        1.40  

Securities

      8,289        0.18        35       (0.08 )       8,253        0.26  
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Source of Funds

      40,721        0.88        (20,117 )      0.69        60,839        0.18  

Deposits

      3,230        0.00        (631 )      (0.00 )       3,862        0.01  

NCDs

      —          —          —         —          —          —    

 

2-7

Mizuho Financial Group, Inc.

 

4. Net Gains/Losses on Securities

Consolidated

 

     (Millions of yen)  
     Fiscal 2022     Fiscal 2021  
                                      Change            

Net Gains (Losses) related to Bonds

      (184,107 )      (131,659 )      (52,447 ) 

Gains on Sales and Others

      75,798       (40,851 )      116,650  

Losses on Sales and Others

      (221,962 )      (56,484 )      (165,477 ) 

Impairment (Devaluation)

      (472 )      909       (1,382 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      (0 )      (0 )      0  

Gains (Losses) on Derivatives other than for Trading

      (37,470 )      (35,232 )      (2,237 ) 
     Fiscal 2022     Fiscal 2021  
           Change        

Net Gains (Losses) related to Stocks

      86,474       130,321       (43,846 ) 

Gains on Sales

      147,796       (71,359 )      219,155  

Losses on Sales

      (49,707 )      139,890       (189,598 ) 

Impairment (Devaluation)

      (2,085 )      39,566       (41,652 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         106       (106 ) 

Gains (Losses) on Derivatives other than for Trading

      (9,528 )      22,116       (31,644 ) 

Non-Consolidated

 

Aggregate Figures for the 2 Banks

 

 

     (Millions of yen)  
     Fiscal 2022         Fiscal 2021      
                                      Change            

Net Gains (Losses) related to Bonds

      (183,750 )      (134,287 )      (49,462 ) 

Gains on Sales and Others

      76,746       (43,169 )      119,916  

Losses on Sales and Others

      (222,560 )      (56,810 )      (165,750 ) 

Impairment (Devaluation)

      (464 )      917       (1,382 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      (37,472 )      (35,225 )      (2,246 ) 
     Fiscal 2022     Fiscal 2021  
           Change        

Net Gains (Losses) related to Stocks

      60,788       108,191       (47,402 ) 

Gains on Sales

      133,467       (77,252 )      210,720  

Losses on Sales

      (47,844 )      138,202       (186,047 ) 

Impairment (Devaluation)

      (15,305 )      25,018       (40,323 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         106       (106 ) 

Gains (Losses) on Derivatives other than for Trading

      (9,528 )      22,116       (31,644 ) 

 

2-8

Mizuho Financial Group, Inc.

 

Mizuho Bank       
     (Millions of yen)  
     Fiscal 2022         Fiscal 2021      
                                      Change            

Net Gains (Losses) related to Bonds

      (183,738 )      (134,269 )      (49,469 ) 

Gains on Sales and Others

      76,746       (43,158 )      119,905  

Losses on Sales and Others

      (222,549 )      (56,802 )      (165,746 ) 

Impairment (Devaluation)

      (464 )      917       (1,382 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      (37,472 )      (35,225 )      (2,246 ) 
     Fiscal 2022         Fiscal 2021      
                                      Change            

Net Gains (Losses) related to Stocks

      57,896       109,019       (51,123 ) 

Gains on Sales

      127,940       (78,643 )      206,583  

Losses on Sales

      (45,261 )      140,524       (185,786 ) 

Impairment (Devaluation)

      (15,254 )      24,915       (40,169 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         106       (106 ) 

Gains (Losses) on Derivatives other than for Trading

      (9,528 )      22,116       (31,644 ) 
Mizuho Trust & Banking

 

     (Millions of yen)  
     Fiscal 2022     Fiscal 2021  
           Change        

Net Gains (Losses) related to Bonds

      (11 )      (18 )      7  

Gains on Sales and Others

      —         (11 )      11  

Losses on Sales and Others

      (11 )      (7 )      (4 ) 

Impairment (Devaluation)

      —         —         —    

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      —         —         —    
     Fiscal 2022     Fiscal 2021  
           Change        

Net Gains (Losses) related to Stocks

      2,892       (828 )      3,720  

Gains on Sales

      5,526       1,390       4,136  

Losses on Sales

      (2,583 )      (2,322 )      (261 ) 

Impairment (Devaluation)

      (50 )      103       (153 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      —         —         —    

 

2-9

Mizuho Financial Group, Inc.

 

5. Unrealized Gains/Losses on Securities

 

  •  

Stocks and others without a quoted market price and Investments in Partnerships are excluded.

Consolidated

(1) Other Securities

 

     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  
     Book Value
(= Fair Value)		      Unrealized Gains/Losses      Book Value
(= Fair Value)		      Unrealized Gains/Losses  
           Gains      Losses             Gains      Losses  

Other Securities

      34,403,458        789,855       1,596,302        806,446        42,065,723        990,184        1,593,785        603,600  

Japanese Stocks

      2,515,722        1,518,382       1,548,463        30,081        2,577,310        1,499,915        1,538,391        38,475  

Japanese Bonds

      20,239,297        (61,492 )      14,440        75,933        28,620,413        (52,186 )       19,799        71,986  

Japanese Government Bonds

      16,449,293        (31,971 )      3,871        35,842        25,158,730        (30,543 )       7,495        38,039  

Other

      11,648,438        (667,033 )      33,398        700,432        10,867,999        (457,544 )       35,593        493,138  

Foreign Bonds

      9,554,507        (580,690 )      14,788        595,479        8,937,594        (414,292 )       2,316        416,609  

 

                       

*   In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included.

*   The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the consolidated balance sheets and the acquisition costs. Unrealized Gains/Losses include ¥36,513 million and ¥27,448 million, which were recognized in the statement of income for March 31, 2023 and March 31, 2022, respectively, by applying the fair-value hedge accounting and others. As a result, the base amounts to be recorded directly to Net Assets after necessary consolidation adjustments as of March 31, 2023 and March 31, 2022 are ¥753,341 million and ¥962,735 million, respectively.

*   Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment as of March 31, 2023 and March 31, 2022 are ¥59,072 million (Foreign Bonds ¥125,968 million and Japanese Government Bonds ¥(14,507) million) and ¥126,280 million (Foreign Bonds ¥135,310 million and Japanese Government Bonds ¥— million), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of March 31, 2023 and March 31, 2022 are ¥848,927 million (Foreign Bonds ¥(454,722) million and Japanese Government Bonds ¥(46,478) million) and ¥1,116,464 million (Foreign Bonds ¥(278,982) million and Japanese Government Bonds ¥(30,543) million), respectively.

*   Unrealized Gains/Losses on Other Securities, net of Taxes (recorded directly to Net Assets after tax and consolidation adjustments, excluding the amount recognized in the statement of income by applying the fair-value hedge accounting and others, including translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships) as of March 31, 2023 and March 31, 2022 are ¥564,495 million and ¥719,822 million, respectively.

 

(2) Bonds Held to Maturity

 

    

    

    

    

 

     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  
     Book Value      Unrealized Gains/Losses      Book Value      Unrealized Gains/Losses  
           Gains      Losses             Gains      Losses  

Bonds Held to Maturity

      2,048,188        (133,080 )      2,538        135,618        1,517,583        (52,007 )       5,336        57,343  

Non-Consolidated

(1) Other Securities

Aggregate Figures for the 2 Banks

 

     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  
     Book Value      Unrealized Gains/Losses      Book Value      Unrealized Gains/Losses  
     (= Fair Value)            Gains      Losses      (= Fair Value)             Gains      Losses  

Other Securities

      33,665,664        730,479       1,537,999        807,520        41,483,698        919,942        1,525,116        605,173  

Japanese Stocks

      2,444,956        1,458,955       1,491,327        32,372        2,497,331        1,432,316        1,473,018        40,701  

Japanese Bonds

      20,220,815        (61,494 )      14,439        75,933        28,603,457        (52,190 )       19,795        71,986  

Japanese Government Bonds

      16,438,019        (31,971 )      3,870        35,842        25,147,531        (30,545 )       7,493        38,039  

Other

      10,999,893        (666,982 )      32,232        699,215        10,382,908        (460,182 )       32,302        492,484  

Foreign Bonds

      8,953,192        (580,710 )      14,044        594,755        8,487,969        (414,822 )       1,198        416,020  

Mizuho Bank

                       

Other Securities

      33,455,851        651,416       1,456,728        805,311        41,243,397        846,893        1,446,756        599,863  

Japanese Stocks

      2,306,663        1,380,927       1,411,109        30,182        2,349,073        1,360,494        1,395,908        35,413  

Japanese Bonds

      20,155,116        (61,854 )      14,060        75,914        28,517,031        (52,979 )       18,984        71,964  

Japanese Government Bonds

      16,438,019        (31,971 )      3,870        35,842        25,147,531        (30,545 )       7,493        38,039  

Other

      10,994,072        (667,656 )      31,558        699,215        10,377,292        (460,620 )       31,864        492,484  

Foreign Bonds

      8,953,192        (580,710 )      14,044        594,755        8,487,969        (414,822 )       1,198        416,020  

Mizuho Trust & Banking

                       

Other Securities

      209,812        79,062       81,271        2,208        240,300        73,048        78,359        5,310  

Japanese Stocks

      138,292        78,027       80,218        2,190        148,258        71,822        77,109        5,287  

Japanese Bonds

      65,699        360       378        18        86,426        788        811        22  

Japanese Government Bonds

      —          —         —          —          —          —          —          —    

Other

      5,821        674       674        0        5,616        437        437        0  

Foreign Bonds

      —          —         —          —          —          —          —          —    

 

                       

*   In addition to “Securities” on the balance sheets, NCDs in “Cash and Due from Banks” and certain items in “Other Debt Purchased” are also included.

*   The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the balance sheets and the acquisition costs.

*   Unrealized Gains/Losses include ¥36,611 million and ¥27,448 million, which were recognized in the statement of income (aggregate figures for the 2 banks) for March 31, 2023 and March 31, 2022, respectively, by applying the fair-value hedge accounting. As a result, the base amounts to be recorded directly to Net Assets after necessary adjustments (aggregate figures for the 2 banks) as of March 31, 2023 and March 31, 2022 are ¥693,867 million and ¥892,494 million, respectively.

*   Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment (aggregate figures for the 2 banks) as of March 31, 2023 and March 31, 2022 are ¥59,072 million (Foreign Bonds ¥125,968 million and Japanese Government Bonds ¥(14,507) million) and ¥126,280 million (Foreign Bonds ¥135,310 million and Japanese Government Bonds ¥— million), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments (aggregate figures for the 2 banks) as of March 31, 2023 and March 31, 2022 are ¥789,551 million (Foreign Bonds ¥(454,742) million and Japanese Government Bonds ¥(46,478) million) and ¥1,046,223 million (Foreign Bonds ¥(279,511) million and Japanese Government Bonds ¥(30,545) million), respectively.

*   Unrealized Gains/Losses on Other Securities, net of Taxes (recorded directly to Net Assets after tax adjustment, excluding the amount recognized in the statement of income by applying the fair-value hedge accounting including translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships) as of March 31, 2023 and March 31, 2022 are as follows.

    

    

    

    

    

 

     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  

Aggregate Figures

      524,356        654,388  

Mizuho Bank

      462,550        596,706  

Mizuho Trust & Banking

      61,805        57,681  

 

2-10

Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

Aggregate Figures for the 2 Banks

 

     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  
            Unrealized Gains/Losses             Unrealized Gains/Losses  
     Book Value            Gains      Losses      Book Value            Gains      Losses  

Aggregate Figures

      2,048,188        (133,080 )      2,538        135,618        1,517,583        (52,007 )      5,336        57,343  

Mizuho Bank

      2,048,188        (133,080 )      2,538        135,618        1,517,583        (52,007 )      5,336        57,343  

Mizuho Trust & Banking

      —          —         —          —          —          —         —          —    

 

(3) Investment in Subsidiaries and Affiliates

 

Aggregate Figures for the 2 Banks

 

 

   
     (Millions of yen)  
     As of March 31, 2023      As of March 31, 2022  
            Unrealized Gains/Losses             Unrealized Gains/Losses  
     Book Value            Gains      Losses      Book Value            Gains      Losses  

Aggregate Figures

      106,131        355,959       355,959        —          108,996        311,957       312,302        345  

Mizuho Bank

      106,131        355,959       355,959        —          108,996        311,957       312,302        345  

Mizuho Trust & Banking

      —          —         —          —          —          —         —          —    

(Reference)

Unrealized Gains/Losses on Other Securities

(the base amount to be recorded directly to Net Assets after necessary adjustments)

For certain Other Securities, Unrealized Gains/Losses were recognized in the statement of income by applying the fair-value hedge accounting and others. Unrealized Gains/Losses on Other Securities after excluding such Income/Loss (the “base amount”) are recorded directly to Net Assets after necessary adjustments.

The base amounts are as follows:

Consolidated

 

     (Millions of yen)  
     As of March 31, 2023     As of
March 31,
2022		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		  
           Change  

Other Securities

      753,341       (209,393 )      962,735  

Japanese Stocks

      1,481,771       9,303       1,472,467  

Japanese Bonds

      (61,492 )      (9,305 )      (52,186 ) 

Japanese Government Bonds

      (31,971 )      (1,427 )      (30,543 ) 

Other

      (666,936 )      (209,391 )      (457,544 ) 

Foreign Bonds

      (580,593 )      (166,300 )      (414,293 ) 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

     (Millions of yen)  
     As of March 31, 2023     As of
March 31,
2022		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		  
           Change  

Other Securities

      693,867       (198,626 )      892,494  

Japanese Stocks

      1,422,344       17,476       1,404,868  

Japanese Bonds

      (61,494 )      (9,303 )      (52,190 ) 

Japanese Government Bonds

      (31,971 )      (1,425 )      (30,545 ) 

Other

      (666,982 )      (206,799 )      (460,183 ) 

Foreign Bonds

      (580,711 )      (165,888 )      (414,822 ) 

 

2-11

Mizuho Financial Group, Inc.

 

6. Projected Redemption Amounts for Securities

 

  •  

The redemption schedule by term for Bonds Held to Maturity and Other Securities with maturities is as follows:

Non-Consolidated

Aggregate Figures for the 2 Banks

 

    (Billions of yen)  
    Maturity as of March 31, 2023     Change     Maturity as of March 31, 2022  
    Within
1 year		     1 - 5
years		     5 - 10
years		     Over
10 years		     Within
1 year		     1 - 5
years		     5 - 10
years		     Over
10 years		     Within
1 year		     1 - 5
years		     5 - 10
years		     Over
10 years		  

Japanese Bonds

     15,229.2       2,944.1       2,108.4       711.7       (4,562.0 )      (3,493.8 )      (81.1 )      71.3       19,791.3       6,438.0       2,189.5       640.4  

Japanese Government Bonds

     14,541.4       965.7       1,579.8       100.0       (4,781.5 )      (3,556.7 )      (58.8 )      (5.0 )      19,322.9       4,522.4       1,638.6       105.0  

Japanese Local Government Bonds

     35.5       275.7       241.5       7.4       8.3       55.6       74.7       —         27.2       220.1       166.7       7.4  

Japanese Corporate Bonds

     652.2       1,702.7       287.1       604.3       211.1       7.2       (97.0 )      76.3       441.1       1,695.5       384.2       528.0  

Other

     2,619.3       1,455.7       1,571.5       5,853.6       249.9       (241.3 )      (412.7 )      1,610.9       2,369.4       1,697.1       1,984.3       4,242.6  
Mizuho Bank                        

Japanese Bonds

     15,227.6       2,884.5       2,104.3       711.7       (4,563.4 )      (3,480.9 )      (72.4 )      71.3       19,791.0       6,365.4       2,176.8       640.4  

Japanese Government Bonds

     14,541.4       965.7       1,579.8       100.0       (4,781.5 )      (3,556.7 )      (58.8 )      (5.0 )      19,322.9       4,522.4       1,638.6       105.0  

Japanese Local Government Bonds

     35.5       275.7       241.5       7.4       8.3       55.6       74.7       —         27.2       220.1       166.7       7.4  

Japanese Corporate Bonds

     650.6       1,643.1       283.0       604.3       209.8       20.1       (88.4 )      76.3       440.7       1,622.9       371.4       528.0  

Other

     2,618.9       1,450.8       1,568.3       5,853.6       250.0       (241.3 )      (413.4 )      1,610.9       2,368.8       1,692.1       1,981.7       4,242.6  
Mizuho Trust & Banking                        

Japanese Bonds

     1.6       59.5       4.1       —         1.3       (12.9 )      (8.6 )      —         0.3       72.5       12.7       —    

Japanese Government Bonds

     —         —         —         —         —         —         —         —         —         —         —         —    

Japanese Local Government Bonds

     —         —         —         —         —         —         —         —         —         —         —         —    

Japanese Corporate Bonds

     1.6       59.5       4.1       —         1.3       (12.9 )      (8.6 )      —         0.3       72.5       12.7       —    

Other

     0.4       4.9       3.2       —         (0.1 )      (0.0 )      0.6       —         0.5       5.0       2.5       —    

 

2-12

Mizuho Financial Group, Inc.

 

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

Non-Consolidated

 

  •  

Notional Amounts of Interest Rate Swaps (qualifying for hedge accounting (deferred method)) by Remaining Contractual Term

Aggregate Figures for the 2 Banks

 

    (Billions of yen)  
    As of March 31, 2023     Change     As of March 31, 2022  
    Within
1 year		     1 - 5
years		     Over
5 years		     Total     Within
1 year		     1 - 5
years		     Over
5 years		     Total     Within
1 year		     1 - 5
years		     Over
5 years		     Total  

Receive Fixed / Pay Float

       3,098.5       14,433.0       6,643.9       24,175.5       (123.5 )      5,166.2       2,487.5       7,530.2       3,222.0       9,266.7       4,156.4       16,645.2  

Receive Float / Pay Fixed

     681.5       2,335.6       4,803.8       7,820.9       (589.8 )      (509.3 )      1,669.8       570.6       1,271.4       2,844.9       3,133.9       7,250.3  

Receive Float / Pay Float

     —         —         —         —         —         —         —         —         —         —         —         —    

Receive Fixed / Pay Fixed

     —         —         —         —         —         —         —         —         —         —         —         —    

Total

     3,780.1       16,768.6       11,447.7       31,996.4       (713.4 )      4,656.8       4,157.4       8,100.8       4,493.5       12,111.7       7,290.3       23,895.6  
Mizuho Bank                        

Receive Fixed / Pay Float

     3,098.5       14,433.0       6,643.9       24,175.5       (123.5 )      5,166.2       2,487.5       7,530.2       3,222.0       9,266.7       4,156.4       16,645.2  

Receive Float / Pay Fixed

     681.5       2,285.6       4,289.8       7,256.9       (589.8 )      (459.3 )      1,510.8       461.6       1,271.4       2,744.9       2,778.9       6,795.3  

Receive Float / Pay Float

     —         —         —         —         —         —         —         —         —         —         —         —    

Receive Fixed / Pay Fixed

     —         —         —         —         —         —         —         —         —         —         —         —    

Total

     3,780.1       16,718.6       10,933.7       31,432.4       (713.4 )      4,706.8       3,998.4       7,991.8       4,493.5       12,011.7       6,935.3       23,440.6  
Mizuho Trust & Banking                        

Receive Fixed / Pay Float

     —         —         —         —         —         —         —         —         —         —         —         —    

Receive Float / Pay Fixed

     —         50.0       514.0       564.0       —         (50.0 )      159.0       109.0       —         100.0       355.0       455.0  

Receive Float / Pay Float

     —         —         —         —         —         —         —         —         —         —         —         —    

Receive Fixed / Pay Fixed

     —         —         —         —         —         —         —         —         —         —         —         —    

Total

     —         50.0       514.0       564.0       —         (50.0 )      159.0       109.0       —         100.0       355.0       455.0  

(Reference)

Deferred Hedge Gains/Losses on Derivative Transactions Qualifying for Hedge Accounting

 

     (Billions of yen)  
     As of March 31, 2023     Change     As of March 31, 2022  
     Deferred Hedge Gains/Losses     Deferred Hedge Gains/Losses     Deferred Hedge Gains/Losses  
     Gains      Losses            Gains      Losses           Gains      Losses         

Aggregate Figures

      2,302.9        2,825.5        (522.6 )      966.8        1,373.7       (406.8 )      1,336.0        1,451.7        (115.7 ) 

Mizuho Bank

      2,281.5        2,810.8        (529.3 )      961.1        1,375.0       (413.9 )      1,320.4        1,435.8        (115.3 ) 

Mizuho Trust & Banking

      21.3        14.6        6.6       5.7        (1.2 )      7.0       15.5        15.9        (0.3 ) 

 

Note: Above figures reflect all derivative transactions qualifying for hedge accounting, and are before net of applicable income taxes and others.

 

2-13

Mizuho Financial Group, Inc.

 

8. Employee Retirement Benefits

Non-Consolidated

Retirement Benefit Obligations

Aggregate Figures for the 2 Banks

 

            (Millions of yen)  
                Fiscal 2022             Change               Fiscal 2021        

Retirement Benefit Obligations

      (A)        1,000,481       (69,367 )      1,069,848  

Discount Rate (%)

         (0.00)~1.54         (0.00)~1.05  
     

 

 

    

 

 

    

 

 

  

Total Fair Value of Plan Assets

      (B)        1,734,825       (65,334 )      1,800,159  

Unrecognized Actuarial Differences

      (C)        (262,029 )      (34,001 )      (228,027 ) 

Prepaid Pension Cost/Reserve for Employee Retirement Benefits

      (B)+ (C)-(A)        472,314       (29,968 )      502,283  

Mizuho Bank

          

Retirement Benefit Obligations

      (A)        876,616       (61,386 )      938,002  

Discount Rate (%)

         (0.00)~1.54         (0.00)~1.05  
     

 

 

    

 

 

    

 

 

  

Total Fair Value of Plan Assets

      (B)        1,484,864       (91,150 )      1,576,015  

Unrecognized Actuarial Differences

      (C)        (204,717 )      (7,316 )      (197,401 ) 

Prepaid Pension Cost

      (B)+ (C)-(A)        403,530       (37,081 )      440,611  

Mizuho Trust & Banking

          

Retirement Benefit Obligations

      (A)        123,864       (7,981 )      131,845  

Discount Rate (%)

         (0.00)~1.54         (0.00)~1.05  
     

 

 

    

 

 

    

 

 

  

Total Fair Value of Plan Assets

      (B)        249,960       25,816       224,144  

Unrecognized Actuarial Differences

      (C)        (57,311 )      (26,685 )      (30,626 ) 

Prepaid Pension Cost/Reserve for Employee Retirement Benefits

      (B)+ (C)-(A)        68,784       7,112                      61,672  

 

2-14

Mizuho Financial Group, Inc.

 

Income (Expenses) related to Employee Retirement Benefits

Aggregate Figures for the 2 Banks

 

            (Millions of yen)  
                Fiscal 2022             Change               Fiscal 2021        

Service Cost

         (19,075 )      1,203                  (20,278 ) 

Interest Cost

                                (4,447 )      (1,188 )      (3,258 ) 

Expected Return on Plan Assets

         29,001       (1,056 )      30,057  

Accumulation (Amortization) of Unrecognized Actuarial Differences

         45,113       (2,942 )      48,056  

Gains on Cancellation of Employee Retirement Benefit Trust

         47,627       (26,626 )      74,254  

Other

         (4,177 )      4,131       (8,309 ) 
     

 

 

    

 

 

    

 

 

  

Total

         94,042       (26,479 )      120,522  
     

 

 

    

 

 

    

 

 

  

 

Note: Gains on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).

 

Mizuho Bank          
            (Millions of yen)  
                Fiscal 2022             Change               Fiscal 2021        

Service Cost

                                (16,168 )      878       (17,046 ) 

Interest Cost

         (3,895 )      (1,039 )      (2,856 ) 

Expected Return on Plan Assets

         25,918       (877 )      26,796  

Accumulation (Amortization) of Unrecognized Actuarial Differences

         39,692       (2,577 )      42,270  

Gains on Cancellation of Employee Retirement Benefit Trust

         45,553       (20,958 )      66,511  

Other

         (3,645 )      3,856       (7,501 ) 
     

 

 

    

 

 

    

 

 

  

Total

         87,455       (20,718 )      108,173  
     

 

 

    

 

 

    

 

 

  

 

Note: Gains on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).

 

 

Mizuho Trust & Banking

 

          
            (Millions of yen)  
                Fiscal 2022             Change               Fiscal 2021        

Service Cost

                                (2,906 )      325       (3,231 ) 

Interest Cost

         (551 )      (148 )      (402 ) 

Expected Return on Plan Assets

         3,082       (179 )      3,261  

Accumulation (Amortization) of Unrecognized Actuarial Differences

         5,420       (365 )      5,785  

Gains on Cancellation of Employee Retirement Benefit Trust

         2,074       (5,668 )      7,742  

Other

         (532 )      275       (807 ) 
     

 

 

    

 

 

    

 

 

  

Total

         6,586       (5,761 )      12,348  
     

 

 

    

 

 

    

 

 

  

 

Note: Gains on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).

 

2-15

Mizuho Financial Group, Inc.

 

Consolidated

Retirement Benefit Obligations

 

            (Millions of yen)  
            As of March 31,
2023		     Change     As of March 31,
2022		  

Retirement Benefit Obligations

      (A)        1,200,089       (78,837 )      1,278,926  

Fair Value of Plan Assets

      (B)        1,990,930       (79,439 )      2,070,370  

Unrecognized Actuarial Differences

      (C)        (262,960 )      (19,107 )      (243,853 ) 

Net Defined Benefit Asset

      (D)        859,271       (3,946 )      863,217  

Net Defined Benefit Liability

      (A)-(B)+(D)        68,429       (3,344 )      71,774  

 

Income (Expenses) related to Employee Retirement Benefits

 

 

            (Millions of yen)  
                Fiscal 2022             Change             Fiscal 2021      

Service Cost

                                (29,308 )      3,113       (32,421 ) 

Interest Cost

         (5,578 )      (1,409 )      (4,169 ) 

Expected Return on Plan Assets

         34,142       (808 )      34,951  

Accumulation (Amortization) of Unrecognized Actuarial Differences

         47,385       (1,064 )      48,449  

Accumulation (Amortization) of Unrecognized Prior Service Cost

         (11 )      34       (46 ) 

Gains on Cancellation of Employee Retirement Benefit Trust

         47,627       (26,626 )      74,254  

Other

         (14,070 )      423       (14,494 ) 
     

 

 

    

 

 

    

 

 

  

Total

         80,187       (26,337 )      106,525  
     

 

 

    

 

 

    

 

 

  

 

Note: Gains on Cancellation of Employee Retirement Benefit Trust is recorded to Extraordinary Gains.

 

2-16

Mizuho Financial Group, Inc.

 

9. Capital Ratio

Mizuho Financial Group

International Standard

 

     Consolidated             (%, Billions of yen)         
     As of March 31, 2023
(Preliminary)		      Change      As of March 31, 2022

 

         

(1)   Total Capital Ratio

      16.05        (1.48 )       17.53     

(2)   Tier 1 Capital Ratio

      13.91        (1.09 )       15.00     

(3)   Common Equity Tier 1 Capital Ratio

      11.80        (0.66 )       12.46     

(4)   Total Capital

      11,306.9        (44.7 )       11,351.6     

(5)   Tier 1 Capital

      9,803.3        90.1        9,713.2     

(6)   Common Equity Tier 1 Capital

      8,315.5        248.2        8,067.2     

(7)   Risk weighted Assets

      70,434.1        5,703.7        64,730.4     

(8)   Total Required Capital (7) X8%

      5,634.7        456.2        5,178.4     

Mizuho Bank

 

International Standard

            
     Consolidated                    Non-Consolidated  
     As of March 31, 2023
(Preliminary)		      Change      As of March 31, 2022

 

      As of March 31, 2023
(Preliminary)		  

(1)   Total Capital Ratio

      14.94        (2.08 )       17.02        14.48  

(2)   Tier 1 Capital Ratio

      12.78        (1.64 )       14.42        12.18  

(3)   Common Equity Tier 1 Capital Ratio

      10.51        (1.17 )       11.68        9.78  

(4)   Total Capital

      9,769.7        (380.8 )       10,150.6        8,853.4  

(5)   Tier 1 Capital

      8,356.5        (247.9 )       8,604.5        7,450.7  

(6)   Common Equity Tier 1 Capital

      6,873.5        (95.1 )       6,968.7        5,981.9  

(7)   Risk weighted Assets

      65,371.8        5,733.1        59,638.6        61,141.7  

(8)   Total Required Capital (7) X8%

      5,229.7        458.6        4,771.0        4,891.3  

Mizuho Trust & Banking

 

International Standard

            
     Consolidated                    Non-Consolidated  
     As of March 31, 2023
(Preliminary)		      Change      As of March 31, 2022

 

      As of March 31, 2023
(Preliminary)		  

(1)   Total Capital Ratio

      25.95        0.77        25.18        25.11  

(2)   Tier 1 Capital Ratio

      25.94        0.76        25.18        25.10  

(3)   Common Equity Tier 1 Capital Ratio

      25.94        0.76        25.18        25.10  

(4)   Total Capital

      444.9        2.4        442.5        425.4  

(5)   Tier 1 Capital

      444.7        2.3        442.4        425.2  

(6)   Common Equity Tier 1 Capital

      444.7        2.3        442.4        425.2  

(7)   Risk weighted Assets

      1,714.3        (42.6 )       1,756.9        1,693.9  

(8)   Total Required Capital (7) X8%

      137.1        (3.4 )       140.5        135.5  

 

2-17

Mizuho Financial Group, Inc.

 

II. REVIEW OF CREDITS

1. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial Reconstruction Act (“FRA”)

 

  •  

The figures below are presented net of partial direct write-offs.

 

  •  

Treatment of accrued interest is based on the results of the self-assessment of assets.

(All loans to obligors classified in the self-assessment of assets as Bankrupt Obligors, Substantially Bankrupt Obligors, and Intensive Control Obligors are categorized as non-accrual loans.)

Consolidated

 

     (Millions of yen)  
     As of
March 31,
2023		            As of
March 31,
2022		  
     Change  

Claims against Bankrupt and Substantially Bankrupt Obligors

      43,866        (6,980 )      50,846  

Claims with Collection Risk

      655,396        (66,826 )      722,222  

Claims for Special Attention

      372,433        18,399       354,034  

Loans Past Due for 3 Months or More

      288        (2,209 )      2,498  

Restructured Loans

      372,144        20,609       351,535  

Sub-total[1]

      1,071,696        (55,407 )      1,127,104  

Normal Claims

      100,457,014        4,232,113       96,224,900  
  

 

 

     

 

 

    

 

 

  

Total[2]

      101,528,710        4,176,705       97,352,004  
  

 

 

     

 

 

    

 

 

  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

Amount of Partial Direct Write-offs

      87,247        (21,626 )      108,874  
     (%)  

NPL ratio[1]/[2]

      1.05        (0.10 )      1.15  
Trust Account        
     (Millions of yen)  
     As of
March 31,
2023		            As of
March 31,
2022		  
     Change  

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —         —    

Claims with Collection Risk

      —          —         —    

Claims for Special Attention

      —          —         —    

Loans Past Due for 3 Months or More

      —          —         —    

Restructured Loans

      —          —         —    

Sub-total[3]

      —          —         —    

Normal Claims

      2,814        (1,010 )      3,825  
  

 

 

     

 

 

    

 

 

  

Total[4]

      2,814        (1,010 )      3,825  
  

 

 

     

 

 

    

 

 

  
     (%)  

NPL ratio[3]/[4]

      —          —         —    

 

2-18

Mizuho Financial Group, Inc.

 

Consolidated + Trust Account

 

     (Millions of yen)  
     As of
March 31,
2023		            As of
March 31,
2022		  
     Change  

Claims against Bankrupt and Substantially Bankrupt Obligors

      43,866        (6,980 )      50,846  

Claims with Collection Risk

      655,396        (66,826 )      722,222  

Claims for Special Attention

      372,433        18,399       354,034  

Loans Past Due for 3 Months or More

      288        (2,209 )      2,498  

Restructured Loans

      372,144        20,609       351,535  

Sub-total[5]

      1,071,696        (55,407 )      1,127,104  

Normal Claims

      100,459,828        4,231,102       96,228,725  
  

 

 

     

 

 

    

 

 

  

Total[6]

      101,531,524        4,175,694       97,355,829  
  

 

 

     

 

 

    

 

 

  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

Amount of Partial Direct Write-offs

      87,247        (21,626 )      108,874  
     (%)  

NPL ratio[5]/[6]

      1.05        (0.10 )      1.15  

 

  

Trust account represents trust accounts that guarantee principals in the agreement.

 

2-19

Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)

 

     (Millions of yen)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      34,036        (7,073 )      41,109  

Claims with Collection Risk

      658,482        (67,524 )      726,007  

Claims for Special Attention

      354,948        36,383       318,564  

Loans Past Due for 3 Months or More

      288        (2,209 )      2,497  

Restructured Loans

      354,659        38,592       316,066  

Sub-total[1]

      1,047,467        (38,214 )      1,085,681  

Normal Claims

      103,112,269        5,178,730       97,933,539  
  

 

 

     

 

 

    

 

 

  

Total[2]

      104,159,737        5,140,516       99,019,221  
  

 

 

     

 

 

    

 

 

  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      84,793        (20,619 )      105,413  
     (%)  

NPL ratio[1]/[2]

      1.00        (0.09 )      1.09  
Mizuho Bank        
     (Millions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      33,874        (6,886 )      40,761  

Claims with Collection Risk

      651,224        (63,576 )      714,801  

Claims for Special Attention

      346,665        29,681       316,984  

Loans Past Due for 3 Months or More

      288        (2,185 )      2,473  

Restructured Loans

      346,377        31,866       314,510  

Sub-total[3]

      1,031,765        (40,781 )      1,072,547  

Normal Claims

      100,039,242        5,304,332       94,734,910  
  

 

 

     

 

 

    

 

 

  

Total[4]

      101,071,007        5,263,550       95,807,457  
  

 

 

     

 

 

    

 

 

  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

Amount of Partial Direct Write-offs

      84,576        (20,626 )      105,202  
     (%)  

NPL ratio[3]/[4]

      1.02        (0.09 )      1.11  

 

2-20

Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking        
(Banking Account)        
     (Millions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      161        (186 )      348  

Claims with Collection Risk

      7,258        (3,948 )      11,206  

Claims for Special Attention

      8,282        6,702       1,580  

Loans Past Due for 3 Months or More

      —          (23 )      23  

Restructured Loans

      8,282        6,726       1,556  

Sub-total[5]

      15,702        2,567       13,134  

Normal Claims

      3,070,213        (124,591 )      3,194,804  
  

 

 

     

 

 

    

 

 

  

Total[6]

      3,085,915        (122,023 )      3,207,938  
  

 

 

     

 

 

    

 

 

  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

Amount of Partial Direct Write-offs

      217        6       210  
     (%)  

NPL ratio[5]/[6]

      0.50        0.09       0.40  

(Trust Account)

   
     (Millions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —         —    

Claims with Collection Risk

      —          —         —    

Claims for Special Attention

      —          —         —    

Loans Past Due for 3 Months or More

      —          —         —    

Restructured Loans

      —          —         —    

Sub-total[7]

      —          —         —    

Normal Claims

      2,814        (1,010 )      3,825  
  

 

 

     

 

 

    

 

 

  

Total[8]

      2,814        (1,010 )      3,825  
  

 

 

     

 

 

    

 

 

  
     (%)  

NPL ratio[7]/[8]

      —          —         —    

Trust account represents trust accounts that guarantee principals in the agreement.

        

 

2-21

Mizuho Financial Group, Inc.

 

2. Status of Reserves for Possible Losses on Loans

Consolidated

     (Millions of yen)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Reserves for Possible Losses on Loans

      720,437        (63,448 )      783,886  

General Reserve for Possible Losses on Loans

      313,052        43,912       269,140  

Specific Reserve for Possible Losses on Loans

      363,448        (96,565 )      460,013  

Reserve for Possible Losses on Loans to Restructuring Countries

      43,937        (10,795 )      54,732  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

        

Amount of Partial Direct Write-offs

      87,534        (21,588 )      109,122  

 

Non-Consolidated

 

Aggregate Figures for the 2 Banks

 

        
     (Millions of yen)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Reserves for Possible Losses on Loans

      705,254        (111,995 )      817,249  

General Reserve for Possible Losses on Loans

      297,006        46,524       250,482  

Specific Reserve for Possible Losses on Loans

      364,310        (147,724 )      512,034  

Reserve for Possible Losses on Loans to Restructuring Countries

      43,937        (10,795 )      54,732  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

        

Amount of Partial Direct Write-offs

      84,793        (20,619 )      105,413  

Mizuho Bank

        
Reserves for Possible Losses on Loans      701,652        (113,126 )      814,778  

General Reserve for Possible Losses on Loans

      293,760        45,325       248,435  

Specific Reserve for Possible Losses on Loans

      363,954        (147,655 )      511,610  

Reserve for Possible Losses on Loans to Restructuring Countries

      43,937        (10,795 )      54,732  

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

        

Amount of Partial Direct Write-offs

      84,576        (20,626 )      105,202  

Mizuho Trust & Banking

        

Reserves for Possible Losses on Loans

      3,601        1,130       2,470  

General Reserve for Possible Losses on Loans

      3,246        1,199       2,046  

Specific Reserve for Possible Losses on Loans

      355        (68 )      424  

Reserve for Possible Losses on Loans to Restructuring Countries

      —          —         —    

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

        

Amount of Partial Direct Write-offs

      217        6       210  

Reserve for Possible Losses on Entrusted Loans (¥9 million and ¥12 million for March 31, 2023 and March 31, 2022, respectively) is not included in the above figures for Trust Account.

 

2-22

Mizuho Financial Group, Inc.

 

3. Reserve Ratios for Non Performing Loans based on the BA and the FRA

Consolidated

 

     (%)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Mizuho Financial Group

      67.22        (2.32 )      69.54  

 

Above figures are presented net of partial direct write-offs.

        

Non-Consolidated

        
     (%)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Total

      67.32        (7.94 )      75.27  

Mizuho Bank

      68.00        (7.96 )      75.96  

Mizuho Trust & Banking (Banking Account)

      22.93        4.12       18.81  

 

Above figures are presented net of partial direct write-offs.

 

2-23

Mizuho Financial Group, Inc.

 

4. Coverage on Non Performing Loans based on the BA and the FRA

Non-Consolidated

(1) Non Performing Loans based on the BA and the FRA and Coverage Amount

Aggregate Figures for the 2 Banks (Banking Account)

 

     (Billions of yen)  
     As of
March 31, 2023		      Change     As of
March 31, 2022		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      34.0        (7.0 )      41.1  

Collateral, Guarantees, and equivalent

      28.9        (6.4 )      35.4  

Reserve for Possible Losses

      5.1        (0.5 )      5.6  

Claims with Collection Risk

      658.4        (67.5 )      726.0  

Collateral, Guarantees, and equivalent

      172.8        8.0       164.8  

Reserve for Possible Losses

      342.9        (95.9 )      438.9  

Claims for Special Attention

      354.9        36.3       318.5  

Collateral, Guarantees, and equivalent

      103.4        9.9       93.5  

Reserve for Possible Losses

      66.0        13.7       52.2  

Total

      1,047.4        (38.2 )      1,085.6  

Collateral, Guarantees, and equivalent

      305.2        11.4       293.8  

Reserve for Possible Losses

      414.1        (82.7 )      496.9  
Mizuho Bank        

Claims against Bankrupt and Substantially Bankrupt Obligors

      33.8        (6.8 )      40.7  

Collateral, Guarantees, and equivalent

      28.7        (6.2 )      35.0  

Reserve for Possible Losses

      5.1        (0.5 )      5.6  

Claims with Collection Risk

      651.2        (63.5 )      714.8  

Collateral, Guarantees, and equivalent

      166.1        11.8       154.2  

Reserve for Possible Losses

      342.6        (95.9 )      438.5  

Claims for Special Attention

      346.6        29.6       316.9  

Collateral, Guarantees, and equivalent

      96.4        3.0       93.4  

Reserve for Possible Losses

      65.7        13.8       51.9  

Total

      1,031.7        (40.7 )      1,072.5  

Collateral, Guarantees, and equivalent

      291.3        8.6       282.7  

Reserve for Possible Losses

      413.5        (82.6 )      496.2  
Mizuho Trust & Banking (Banking Account)        

Claims against Bankrupt and Substantially Bankrupt Obligors

      0.1        (0.1 )      0.3  

Collateral, Guarantees, and equivalent

      0.1        (0.1 )      0.3  

Reserve for Possible Losses

      —          —         —    

Claims with Collection Risk

      7.2        (3.9 )      11.2  

Collateral, Guarantees, and equivalent

      6.7        (3.8 )      10.6  

Reserve for Possible Losses

      0.3        (0.0 )      0.4  

Claims for Special Attention

      8.2        6.7       1.5  

Collateral, Guarantees, and equivalent

      6.9        6.8       0.1  

Reserve for Possible Losses

      0.2        (0.0 )      0.2  

Total

      15.7        2.5       13.1  

Collateral, Guarantees, and equivalent

      13.8        2.7       11.0  

Reserve for Possible Losses

      0.6        (0.0 )      0.7  
Reference: Trust Account        

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —         —    

Collateral, Guarantees, and equivalent

      —          —         —    

Claims with Collection Risk

      —          —         —    

Collateral, Guarantees, and equivalent

      —          —         —    

Claims for Special Attention

      —          —         —    

Collateral, Guarantees, and equivalent

      —          —         —    

Total

      —          —         —    

Collateral, Guarantees, and equivalent

      —          —         —    

Trust account represents trust accounts that guarantee principals in the agreement.

 

2-24

Mizuho Financial Group, Inc.

 

(2) Coverage Ratio

Aggregate Figures for the 2 Banks (Banking Account)

 

     (Billions of yen)  
     As of
March 31, 2023		      Change     As of
March 31, 2022		  
       

Coverage Amount

      719.3        (71.3 )      790.7  

Reserves for Possible Losses on Loans

      414.1        (82.7 )      496.9  

Collateral, Guarantees, and equivalent

      305.2        11.4       293.8  
     (%)  

Coverage Ratio

      68.6        (4.1 )      72.8  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0        —         100.0  

Claims with Collection Risk

      78.3        (4.8 )      83.1  

Claims for Special Attention

      47.7        1.9       45.7  

Claims against Special Attention Obligors

      51.5        4.7       46.8  

Reserve Ratio against Non-collateralized Claims

        
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0        —         100.0  

Claims with Collection Risk

      70.6        (7.6 )      78.2  

Claims for Special Attention

      26.2        3.0       23.2  

Claims against Special Attention Obligors

      29.7        4.4       25.3  

Reference: Reserve Ratio

        
     (%)  

Claims against Special Attention Obligors

      20.52        2.47       18.05  

Claims against Watch Obligors excluding Special Attention Obligors

      2.91        (0.54 )      3.46  

Claims against Normal Obligors

      0.09        (0.00 )      0.10  

Mizuho Bank

        
     (Billions of yen)  

Coverage Amount

      704.9        (74.0 )      778.9  

Reserves for Possible Losses on Loans

      413.5        (82.6 )      496.2  

Collateral, Guarantees, and equivalent

      291.3        8.6       282.7  
     (%)  

Coverage Ratio

      68.3        (4.3 )      72.6  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0        —         100.0  

Claims with Collection Risk

      78.1        (4.8 )      82.9  

Claims for Special Attention

      46.8        0.9       45.8  

Claims against Special Attention Obligors

      51.3        4.4       46.9  

Reserve Ratio against Non-collateralized Claims

 

  
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0        —         100.0  

Claims with Collection Risk

      70.6        (7.6 )      78.2  

Claims for Special Attention

      26.2        3.0       23.2  

Claims against Special Attention Obligors

      29.8        4.5       25.3  

Reference: Reserve Ratio

        
     (%)  

Claims against Special Attention Obligors

      20.74        2.69       18.04  

Claims against Watch Obligors excluding Special Attention Obligors

      2.92        (0.56 )      3.49  

Claims against Normal Obligors

      0.09        (0.00 )      0.10  

 

2-25

Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking (Banking Account)

 

     (Billions of yen)  
     As of
March 31, 2023		      Change     As of
March 31, 2022		  

Coverage Amount

      14.4        2.7       11.7  

Reserves for Possible Losses on Loans

      0.6        (0.0 )      0.7  

Collateral, Guarantees, and equivalent

      13.8        2.7       11.0  
     (%)  

Coverage Ratio

      92.1        2.5       89.5  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0        —         100.0  

Claims with Collection Risk

      97.7        (0.5 )      98.2  

Claims for Special Attention

      87.1        61.4       25.6  

Claims against Special Attention Obligors

      60.7        36.6       24.0  

Reserve Ratio against Non-collateralized Claims

        
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —         —    

Claims with Collection Risk

      67.3        (0.8 )      68.1  

Claims for Special Attention

      19.8        (0.1 )      20.0  

Claims against Special Attention Obligors

      19.4        (0.5 )      19.9  

Reference: Reserve Ratio

        
     (%)  

Claims against Special Attention Obligors

      9.48        (9.48 )      18.96  

Claims against Watch Obligors excluding Special Attention Obligors

      1.68        0.59       1.08  

Claims against Normal Obligors

      0.03        (0.00 )      0.04  

 

2-26

Mizuho Financial Group, Inc.

 

5. Overview of Non-Performing Loans (“NPLs”)

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account)

(Billions of yen)

 

 

LOGO

 

Notes: 1.   

Claims for Special Attention is denoted on an individual loans basis.

Claims against Special Attention Obligors includes all claims, not limited to Claims for Special Attention.

 

2-27

Mizuho Financial Group, Inc.

 

6. Results of Removal of NPLs from the Balance Sheet

Non-Consolidated

(1) Outstanding Balance of Claims against Bankrupt and Substantially Bankrupt Obligors and Claims with Collection Risk (under the BA and the FRA)

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     Fiscal 2019      Fiscal 2020      Fiscal 2021      Fiscal 2022  
     As of
March 31,
2020		      As of
March 31,
2021		      As of
March 31,
2022		      As of March 31, 2023  
                          MHBK      MHTB*      Aggregate
Figures for
the 2
Banks		      Change from
March 31,
2022		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      51.0        33.6        28.6        20.3        0.1        20.4        (8.1 ) 

Claims with Collection Risk

      386.5        246.8        162.5        138.1        0.7        138.9        (23.6 ) 

Amount Categorized as above up to Fiscal 2019

      437.5        280.5        191.2        158.5        0.8        159.4        (31.7 ) 

of which the amount which was in the process of being removed from the balance sheet

      44.5        31.6        30.1        19.9        0.1        20.0        (10.0 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

         15.0        4.8        2.5        0.0        2.5        (2.2 ) 

Claims with Collection Risk

         164.2        92.5        64.9        0.3        65.2        (27.3 ) 

Amount Newly Categorized as above during Fiscal 2020

         179.2        97.3        67.4        0.3        67.8        (29.5 ) 

of which the amount which was in the process of being removed from the balance sheet

         13.6        2.7        1.5        0.0        1.5        (1.2 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

            7.6        2.9        0.0        2.9        (4.6 ) 

Claims with Collection Risk

            470.9        294.6        5.8        300.4        (170.4 ) 

Amount Newly Categorized as above during Fiscal 2021

            478.5        297.5        5.8        303.4        (175.0 ) 

of which the amount which was in the process of being removed from the balance sheet

            7.1        2.5        0.0        2.6        (4.5 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

               7.9        0.0        7.9        7.9  

Claims with Collection Risk

               153.5        0.3        153.8        153.8  

Amount Newly Categorized as above during Fiscal 2022

               161.4        0.3        161.8        161.8  

of which the amount which was in the process of being removed from the balance sheet

               6.2        0.0        6.3        6.3  

Claims against Bankrupt and Substantially Bankrupt Obligors

      51.0        48.7        41.1        33.8        0.1        34.0        (7.0 ) 

Claims with Collection Risk

      386.5        411.0        726.0        651.2        7.2        658.4        (67.5 ) 

Total

      437.5        459.7        767.1        685.0        7.4        692.5        (74.5 ) 

of which the amount which was in the process of being removed from the balance sheet

      44.5        45.3        40.0        30.3        0.1        30.5        (9.5 ) 

 

 

*     Trust account represents trust accounts that guarantee principals in the agreement.

*                        denotes newly categorized amounts.

(2) Breakdown of Reasons for Removal of NPLs from the Balance Sheet in Fiscal 2022

 

     (Billions of yen)  
     Aggregate Figures
for the 2 Banks
(Banking Account
+ Trust Account)		     MHBK     MHTB
(Banking Account
+ Trust Account)		  

Liquidation

      (9.4 )      (9.4 )      —    

Restructuring

      (147.2 )      (147.2 )      —    

Improvement in Business Performance due to Restructuring

      —         —         —    

Loan Sales

      (23.4 )      (23.4 )      —    

Direct Write-off

      164.8       164.8       —    

Other

      (221.1 )      (216.6 )      (4.4 ) 

Debt recovery

      (188.9 )      (184.7 )      (4.1 ) 

Improvement in Business Performance

      (32.2 )      (31.9 )      (0.3 ) 
  

 

 

    

 

 

    

 

 

  

Total

      (236.4 )      (231.9 )      (4.4 ) 
  

 

 

    

 

 

    

 

 

  

 

2-28

Mizuho Financial Group, Inc.

 

7. Status of Loans by Industry

(1) Outstanding Balances by Industry

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     As of March 31, 2023     As of March 31, 2022  
     Outstanding
Balance		      Change     Outstanding
Balance		  

Domestic Total (excluding Loans Booked Offshore)

      61,307.8        1,119.7       60,188.1  

Manufacturing

      9,847.1        76.2       9,770.8  

Agriculture & Forestry

      47.5        0.0       47.5  

Fishery

      2.7        (0.1 )      2.9  

Mining, Quarrying Industry & Gravel Extraction Industry

      205.5        (15.2 )      220.7  

Construction

      902.0        44.6       857.4  

Utilities

      3,398.3        354.9       3,043.3  

Communication

      1,000.3        (206.1 )      1,206.4  

Transportation & Postal Industry

      2,436.0        (145.4 )      2,581.5  

Wholesale & Retail

      4,911.5        (303.2 )      5,214.7  

Finance & Insurance

      9,451.7        419.5       9,032.1  

Real Estate

      11,041.2        880.8       10,160.4  

Commodity Lease

      3,136.3        244.3       2,891.9  

Service Industries

      2,982.4        (99.5 )      3,082.0  

Local Governments

      541.5        (47.5 )      589.0  

Governments

      1,079.3        242.7       836.5  

Other

      10,323.8        (326.2 )      10,650.0  

Overseas Total (including Loans Booked Offshore)

      29,610.6        3,146.7       26,463.8  

Governments

      145.3        (118.4 )      263.8  

Financial Institutions

      11,098.0        1,553.4       9,544.6  

Other

      18,367.2        1,711.8       16,655.3  
  

 

 

     

 

 

    

 

 

  

Total

      90,918.5        4,266.5       86,651.9  
  

 

 

     

 

 

    

 

 

  

 

*

Loans to Finance & Insurance sector includes loans to MHFG as follows:

As of March 31, 2023:

    ¥810.0 billion (from MHBK)

As of March 31, 2022:

    ¥755.0 billion (from MHBK)
*

Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts.

 

2-29

Mizuho Financial Group, Inc.

 

     (Billions of yen)  
     As of March 31, 2023     As of March 31, 2022  
     Outstanding
Balance		      Change     Outstanding
Balance		  
Mizuho Bank  

Domestic Total (excluding Loans Booked Offshore)

      57,669.7        1,170.9       56,498.8  

Manufacturing

      9,446.5        89.6       9,356.9  

Agriculture & Forestry

      47.5        0.0       47.5  

Fishery

      2.7        (0.1 )      2.9  

Mining, Quarrying Industry & Gravel Extraction Industry

      204.1        (15.0 )      219.2  

Construction

      859.1        42.4       816.7  

Utilities

      3,132.4        365.9       2,766.4  

Communication

      907.6        (197.2 )      1,104.9  

Transportation & Postal Industry

      2,297.9        (104.7 )      2,402.6  

Wholesale & Retail

      4,791.8        (291.6 )      5,083.4  

Finance & Insurance

      8,946.8        390.9       8,555.8  

Real Estate

      9,489.5        789.6       8,699.8  

Commodity Lease

      2,946.8        253.0       2,693.8  

Service Industries

      2,941.3        (88.4 )      3,029.8  

Local Governments

      540.3        (46.9 )      587.3  

Governments

      1,079.3        242.7       836.5  

Other

      10,035.3        (259.2 )      10,294.6  

Overseas Total (including Loans Booked Offshore)

      29,610.6        3,147.0       26,463.6  

Governments

      145.3        (118.4 )      263.8  

Financial Institutions

      11,098.0        1,553.4       9,544.6  

Other

      18,367.2        1,712.0       16,655.1  
  

 

 

     

 

 

    

 

 

  

Total

      87,280.3        4,317.9       82,962.4  
  

 

 

     

 

 

    

 

 

  
Mizuho Trust & Banking (Banking Account + Trust Account)  

Domestic Total (excluding Loans Booked Offshore)

      3,638.1        (51.1 )      3,689.3  

Manufacturing

      400.6        (13.3 )      413.9  

Agriculture & Forestry

      0.0        (0.0 )      0.0  

Fishery

      —          —         —    

Mining, Quarrying Industry & Gravel Extraction Industry

      1.4        (0.1 )      1.5  

Construction

      42.8        2.1       40.7  

Utilities

      265.9        (11.0 )      276.9  

Communication

      92.6        (8.8 )      101.5  

Transportation & Postal Industry

      138.1        (40.6 )      178.8  

Wholesale & Retail

      119.7        (11.6 )      131.3  

Finance & Insurance

      504.8        28.5       476.2  

Real Estate

      1,551.6        91.1       1,460.5  

Commodity Lease

      189.5        (8.6 )      198.1  

Service Industries

      41.1        (11.0 )      52.1  

Local Governments

      1.1        (0.5 )      1.6  

Governments

      —          —         —    

Other

      288.5        (66.9 )      355.4  

Overseas Total (including Loans Booked Offshore)

      —          (0.2 )      0.2  

Governments

      —          —         —    

Financial Institutions

      —          —         —    

Other

      —          (0.2 )      0.2  
  

 

 

     

 

 

    

 

 

  

Total

      3,638.1        (51.3 )      3,689.5  
  

 

 

     

 

 

    

 

 

  

 

*

Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts.

 

2-30

Mizuho Financial Group, Inc.

 

(2) Non Performing Loans based on the BA and the FRA and Coverage Ratio by Industry

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen, %)  
     As of March 31, 2023     As of March 31, 2022  
                   Change               
   Non Performing
Loans based on
the BA and the
FRA		      Coverage
Ratio		      Non Performing
Loans based on
the BA and the
FRA		     Coverage
Ratio		     Non Performing
Loans based on
the BA and the
FRA		      Coverage
Ratio		  

Domestic Total (excluding Loans Booked Offshore)

      898.8        65.7        (99.5 )      (6.5 )      998.4        72.3  

Manufacturing

      464.3        64.3        (52.2 )      (12.0 )      516.5        76.4  

Agriculture & Forestry

      7.2        60.0        5.9       13.1       1.3        46.9  

Fishery

      0.2        62.6        (0.0 )      0.0       0.2        62.6  

Mining, Quarrying Industry & Gravel Extraction Industry

      —          —          (0.1 )      —         0.1        100.0  

Construction

      6.2        78.1        0.2       (0.4 )      5.9        78.5  

Utilities

      5.3        55.6        4.2       18.1       1.1        37.4  

Communication

      8.7        68.7        (0.4 )      (6.3 )      9.1        75.1  

Transportation & Postal Industry

      21.9        63.8        (4.3 )      16.0       26.2        47.7  

Wholesale & Retail

      121.6        59.7        (8.7 )      2.1       130.3        57.5  

Finance & Insurance

      12.0        45.4        (2.2 )      (36.1 )      14.3        81.6  

Real Estate

      30.3        87.4        (5.2 )      5.9       35.5        81.5  

Commodity Lease

      0.2        89.4        (1.1 )      2.2       1.4        87.1  

Service Industries

      152.5        61.3        (16.8 )      (1.9 )      169.4        63.2  

Local Governments

      —          —          —         —         —          —    

Other

      67.8        90.6        (18.6 )      0.9       86.5        89.6  

Overseas Total (including Loans Booked Offshore)

      148.6        86.2        61.3       7.3       87.2        78.9  

Governments

      —          —          —         —         —          —    

Financial Institutions

      —          —          —         —         —          —    

Other

      148.6        86.2        61.3       7.3       87.2        78.9  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Total

      1,047.4        68.6        (38.2 )      (4.1 )      1,085.6        72.8  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

 

*

Trust account represents trust accounts that guarantee principals in the agreement.

 

2-31

Mizuho Financial Group, Inc.

 

8. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises (“SMEs”) and Individual Customers

(1) Balance of Housing and Consumer Loans

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     As of
March 31,
2023		            As of
March 31,
2022		  
     Change  

Housing and Consumer Loans

      8,112.5        (344.7 )      8,457.3  

Housing Loans for owner’s residential housing

      7,603.1        (293.2 )      7,896.3  

Mizuho Bank

        

Housing and Consumer Loans

      8,067.3        (336.7 )      8,404.1  

Housing Loans

      7,671.7        (309.6 )      7,981.4  

for owner’s residential housing

      7,560.4        (286.0 )      7,846.4  

Consumer loans

      395.5        (27.0 )      422.6  

Mizuho Trust & Banking (Banking Account + Trust Account)

        

Housing and Consumer Loans

      45.2        (8.0 )      53.2  

Housing Loans for owner’s residential housing

      42.6        (7.1 )      49.8  

 

*  Above figures are aggregate banking and trust account amounts.

        

(2) Loans to SMEs and Individual Customers

 

Non-Consolidated

 

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (%, Billions of yen)  
     As of
March 31,
2023		            As of
March 31,
2022		  
     Change  

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      58.8        0.8       57.9  

Loans to SMEs and Individual Customers

      36,070.1        1,172.2       34,897.9  

Mizuho Bank

        

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      58.6        0.3       58.3  

Loans to SMEs and Individual Customers

      33,850.8        874.7       32,976.0  

Mizuho Trust & Banking (Banking Account + Trust Account)

        

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      61.0        8.9       52.0  

Loans to SMEs and Individual Customers

      2,219.3        297.4       1,921.8  

 

*

Above figures are aggregate banking and trust account amounts.

 

*

Above figures do not include loans booked at overseas offices and offshore loans.

 

*

The definition of “Small and Medium-sized Enterprises” is as follows:

 

      

Enterprises of which the capital is ¥300 million or below (¥100 million or below for the wholesale industry, and ¥50 million or below for the retail, restaurant and commodity lease industries, etc.), or enterprises with full-time employees of 300 or below (100 or below for the wholesale and commodity lease industries etc., 50 or below for the retail and restaurant industries.)

 

2-32

Mizuho Financial Group, Inc.

 

9. Status of Loans by Region

(1) Outstanding Balances by Region

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     As of March 31, 2023     As of March 31,
2022		  
            Outstanding       
Balance		      Change            Outstanding       
Balance		  

Asia

      7,550.1        (217.8 )      7,768.0  

Hong Kong

      1,685.7        (208.2 )      1,893.9  

Singapore

      1,295.9        (58.2 )      1,354.1  

Thailand

      1,061.5        (77.6 )      1,139.2  

Taiwan

      716.0        (268.2 )      984.3  

India

      548.8        21.5       527.2  

South Korea

      822.5        174.7       647.8  

Indonesia

      429.8        108.4       321.3  

Philippines

      302.7        8.1       294.5  

China

      155.6        30.8       124.8  

Malaysia

      92.0        (0.3 )      92.4  

Central and South America

      5,334.9        145.4       5,189.5  

Mexico

      470.6        101.6       369.0  

Brazile

      198.0        (41.8 )      239.8  

North America

      11,584.6        3,340.4       8,244.1  

United States

      10,681.7        3,237.6       7,444.1  

Eastern Europe

      237.8        (36.3 )      274.2  

Russia

      205.5        (4.3 )      209.8  

Western Europe

      5,275.6        361.6       4,914.0  

United Kingdom

      1,231.6        (230.3 )      1,462.0  

Netherlands

      1,159.7        217.2       942.5  

Germany

      672.8        204.3       468.5  

Ireland

      454.6        136.1       318.5  

Switzerland

      107.1        (214.3 )      321.5  

France

      429.8        73.4       356.4  

Turkey

      78.0        (11.8 )      89.8  

Italy

      158.9        52.9       106.0  

Other

      3,689.6        121.6       3,567.9  

Australia

      2,048.1        75.9       1,972.1  

Total

      33,673.0        3,715.0       29,957.9  
The above figures are based on obligor country of location.

 

The outstanding balance of loans in major banking subsidiaries outside Japan in the consolidated financial statement is as follows.

 

     As of March 31, 2023     As of March 31,
2022		  
            Outstanding       
Balance		      Change            Outstanding       
Balance		  

Mizuho Bank (China) ,Ltd

      1,296.1        15.6       1,280.4  

Mizuho Bank (USA)

      477.7        19.7       458.0  

PT. Bank Mizuho Indonesia

      439.2        138.4       300.7  

Note: The balances of loans of AO Mizuho Bank (Moscow) for the fiscal year ended March 31, 2023 and 2022 are ¥49.9 billion and

¥68.8 billion, respectively.

 

2-33

Mizuho Financial Group, Inc.

 

(2) Non Performing Loans based on the BA and the FRA by Region

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     As of March 31, 2023     As of March 31, 2022  
     Non Performing
Loans based on the
BA and the FRA		      Change     Non Performing
Loans based on the
BA and the FRA		  

Asia

      83.2        26.3       56.8  

Hong Kong

      0.6        0.6       0.0  

Singapore

      34.5        (0.4 )      35.0  

Thailand

      2.1        1.1       1.0  

Taiwan

      21.4        21.4       0.0  

India

      0.1        0.0       0.1  

South Korea

      —          (0.0 )      0.0  

Indonesia

      0.8        (0.1 )      0.9  

Philippines

      0.0        (0.0 )      0.0  

China

      0.1        0.1       0.0  

Malaysia

      —          —         —    

Central and South America

      16.1        (1.7 )      17.8  

Mexico

      0.3        (0.0 )      0.4  

Brazile

      1.9        (1.6 )      3.5  

North America

      15.3        0.3       15.0  

United States

      15.3        0.3       15.0  

Eastern Europe

      41.0        33.1       7.8  

Russia

      41.0        33.1       7.8  

Western Europe

      32.0        8.7       23.2  

United Kingdom

      4.0        0.5       3.4  

Netherlands

      —          —         —    

Germany

      —          (0.5 )      0.5  

Ireland

      —          —         —    

Switzerland

      —          (0.2 )      0.2  

France

      —          —         —    

Turkey

      —          —         —    

Italy

      8.7        0.5       8.2  

Other

      8.2        (3.6 )      11.8  

Australia

      —          —         —    

Total

      196.0        63.2       132.8  
The above figures are based on obligor country of location.

 

The outstanding balance of Non Performing Loans based on the BA and the FRA in major banking subsidiaries outside Japan in the consolidated financial statement is as follows.

 

     As of March 31, 2023     As of March 31, 2022  
     Non Performing
Loans based on the
BA and the FRA		      Change     Non Performing
Loans based on the
BA and the FRA		  

Mizuho Bank (China) ,Ltd

      0.8        (1.0 )      1.8  

Mizuho Bank (USA)

      —          (3.0 )      3.0  

PT. Bank Mizuho Indonesia

      5.9        0.1       5.8  

 

Note: The balance of loans of Non Performing Loans based on the BA and the FRA of AO Mizuho Bank (Moscow) for the fiscal year ended March 31, 2023 is ¥0.6 billion. The balance of loans of Non Performing Loans based on the BA and the FRA of AO Mizuho Bank (Moscow) for the fiscal year ended March 31, 2022 is not existed.

 

2-34

Mizuho Financial Group, Inc.

 

III. DEFERRED TAXES

1. Estimation for Calculating Deferred Tax Assets

Non-Consolidated

Mizuho Bank

1. Estimate of future taxable income

 

            (Billions of yen)  
            Total amount
for five years
(from April 1, 2023
to
March 31, 2028)		  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)

      1        3,350.7  

Income before Income Taxes

      2        3,372.5  

Tax Adjustments *1

      3        401.7  

Taxable Income before Current Deductible Temporary Differences *2

      4        3,774.2  

Effective Statutory Tax Rate

      5        30.62%  

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [ 4 x 5 ]

      6        1,155.6  

 

*1.

Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.

*2.

Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of March 31, 2023.

 

(Reference) Past results of taxable income (tax loss)

 

   
     (Billions of yen)  

Fiscal 2018

      267.2  

Fiscal 2019

      378.5  

Fiscal 2020

      316.3  

Fiscal 2021

      360.3  

Fiscal 2022(estimate)

      162.0  

 

*1.

Figures are taxable income (tax loss) amounts per the final corporation tax returns before deducting tax losses carried forward from prior years. Subsequent amendments have not been reflected.

*2.

Figure for fiscal 2022 is an estimate of taxable income.

2. Breakdown of Deferred Tax Assets

 

            (Billions of yen)  
            As of
March 31,
2023		     Change     As of
March 31,
2022		  

Reserves for Possible Losses on Loans

      7        225.4       (26.2 )      251.6  

Impairment of Securities

      8        112.4       (12.8 )      125.2  

Net Unrealized Losses on Other Securities

      9        125.8       63.5       62.3  

Reserve for Employee Retirement Benefits

      10        —         —         —    

Depreciation and Impairment

      11        93.7       (28.4 )      122.1  

Net Deferred Hedge Losses

      12        166.3       126.5       39.7  

Tax Losses Carried Forward

      13        8.4       8.2       0.1  

Other

      14        246.2       16.4       229.7  
     

 

 

    

 

 

    

 

 

  

Total Deferred Tax Assets

      15        978.4       147.3       831.1  
     

 

 

    

 

 

    

 

 

  

Valuation Allowance

      16        (136.0 )      (29.3 )      (106.7 ) 
     

 

 

    

 

 

    

 

 

  

Sub-Total [ 15 + 16 ]

      17        842.4       118.0       724.3  
     

 

 

    

 

 

    

 

 

  

Amount related to Retirement Benefits Accounting

      18        (123.5 )      11.3       (134.9 ) 

Net Unrealized Gains on Other Securities

      19        (271.9 )      4.9       (276.8 ) 

Net Deferred Hedge Gains

      20        —         —         —    

Other

      21        (64.6 )      (25.2 )      (39.4 ) 
     

 

 

    

 

 

    

 

 

  

Total Deferred Tax Liabilities

      22        (460.1 )      (8.9 )      (451.2 ) 
     

 

 

    

 

 

    

 

 

  

Net Deferred Tax Assets (Liabilities) [17 + 22]

      23        382.2       109.0       273.1  

Tax effects related to Net Unrealized Losses (Gains) on Other Securities *

      24        (154.5 )      69.4       (223.9 ) 

Tax effects related to Net Deferred Hedge Losses (Gains)

      25        166.3       126.5       39.7  

Tax effects related to others

      26        370.4       (86.9 )      457.3  

 

*

Tax effects related to Net Unrealized Losses (Gains) on Other Securities is the amount after deducting Valuation Allowance.

 

 

Assessment of Recoverability of Deferred Tax Assets is based on 19. Company Classification (Category 2) of “Revised Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26).

Future taxable income was estimated using assumptions used in the Business Plan, etc.

 

The above includes forward-looking information. See the disclaimer at the end of the table of contents located at the beginning of this document.

 

2-35

Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking

1. Estimate of future taxable income

 

            (Billions of yen)  
            Total amount
for five years
(from April 1, 2023
to
March 31, 2028)		  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)

      1        195.9  

Income before Income Taxes

      2        226.6  

Tax Adjustments (1)

      3        (16.4 ) 

Taxable Income before Current Deductible Temporary Differences (2)

      4        210.1  

Effective Statutory Tax Rate

      5        30.62%  

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [ 4 x 5 ]

      6        64.3  

 

*1.

Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.

*2.

Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of March 31, 2023.

 

(Reference) Past results of taxable income (tax loss)

 

   
     (Billions of yen)  

Fiscal 2018

      39.0  

Fiscal 2019

      31.7  

Fiscal 2020

      26.6  

Fiscal 2021

      33.2  

Fiscal 2022(estimate)

      31.0  

 

*1.

Figures are taxable income (tax loss) amounts per the final corporation tax returns before deducting tax losses carried forward from prior years. Subsequent amendments have not been reflected.

*2.

Figure for fiscal 2022 is an estimate of taxable income.

2. Breakdown of Deferred Tax Assets

 

            (Billions of yen)  
            As of
March 31,
2023		     Change     As of
March 31,
2022		  

Reserves for Possible Losses on Loans

      7        1.1       0.3       0.7  

Impairment of Securities

      8        5.7       (2.0 )      7.7  

Net Unrealized Losses on Other Securities

      9        0.3       (0.0 )      0.4  

Reserve for Employee Retirement Benefits

      10        0.6       (0.8 )      1.5  

Reserve for Loss of Transfer

      11        —         (0.9 )      0.9  

Net Deferred Hedge Losses

      12        —         (0.1 )      0.1  

Tax Losses Carried Forward

      13        —         —         —    

Other

      14        18.4       0.6       17.8  
     

 

 

    

 

 

    

 

 

  

Total Deferred Tax Assets

      15        26.4       (2.9 )      29.3  
     

 

 

    

 

 

    

 

 

  

Valuation Allowance

      16        (7.5 )      0.2       (7.7 ) 
     

 

 

    

 

 

    

 

 

  

Sub-Total [ 15 + 16 ]

      17        18.9       (2.7 )      21.6  
     

 

 

    

 

 

    

 

 

  

Amount related to Retirement Benefits Accounting

      18        (21.7 )      (1.3 )      (20.3 ) 

Net Unrealized Gains on Other Securities

      19        (17.2 )      (1.0 )      (16.1 ) 

Net Deferred Hedge Gains

      20        (2.0 )      (2.0 )      —    

Other

      21        (0.4 )      2.2       (2.6 ) 
     

 

 

    

 

 

    

 

 

  

Total Deferred Tax Liabilities

      22        (41.4 )      (2.3 )      (39.1 ) 
     

 

 

    

 

 

    

 

 

  

Net Deferred Tax Assets (Liabilities) [17 + 22]

      23        (22.5 )      (5.0 )      (17.4 ) 

Tax effects related to Net Unrealized Losses (Gains) on Other Securities*

      24        (17.2 )      (1.8 )      (15.3 ) 

Tax effects related to Net Deferred Hedge Losses (Gains)

      25        (2.0 )      (2.1 )      0.1  

Tax effects related to others

      26        (3.2 )      (0.9 )      (2.2 ) 

 

*

Tax effects related to Net Unrealized Losses (Gains) on Other Securities is the amount after deducting Valuation Allowance.

 

 

Assessment of Recoverability of Deferred Tax Assets is based on 19. Company Classification (Category 2) of “Revised Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26).

Future taxable income was estimated using assumptions used in the Business Plan, etc.

 

The above includes forward-looking information. See the disclaimer at the end of the table of contents located at the beginning of this document.

 

2-36

Mizuho Financial Group, Inc.

 

IV. OTHERS

1. Breakdown of Deposits (Domestic Offices)

Non-Consolidated

Aggregate Figures for the 2 Banks

 

     (Billions of yen)  
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Deposits

      119,182.8        6,651.3       112,531.4  

Individual Deposits

      48,082.7        415.2       47,667.5  

Corporate Deposits

      60,091.4        4,495.2       55,596.1  

Financial/Government Institutions

      11,008.6        1,740.8       9,267.7  
Mizuho Bank        

Deposits

      116,402.8        6,442.7       109,960.1  

Individual Deposits

      47,308.5        445.0       46,863.5  

Corporate Deposits

      58,698.6        4,240.6       54,457.9  

Financial/Government Institutions

      10,395.6        1,757.0       8,638.6  
Mizuho Trust & Banking        

Deposits

      2,780.0        208.6       2,571.3  

Individual Deposits

      774.2        (29.7 )      803.9  

Corporate Deposits

      1,392.7        254.5       1,138.1  

Financial/Government Institutions

      613.0        (16.1 )      629.1  

 

*

Above figures do not include deposits booked at overseas offices and offshore deposits.

 

2-37

Mizuho Financial Group, Inc.

 

2. Number of Directors and Employees

(1) Number of Directors

Aggregate Figures for Mizuho Financial Group, the 2 Banks, and Mizuho Securities

 

     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Directors, Executive Officers as defined in the Companies Act, and Auditors

      45        —         45  

Executive Officers as defined in our internal regulations (excluding those doubling as Directors as defined in the Companies Act)

      46        2       44  

 

*  The above numbers have been adjusted for those who are doubling other positions.

   

(2) Number of Employees

 

Consolidated

 

 

 

     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Employees (excluding Executive Officers as defined in our internal regulations)

      51,212        (1,208 )      52,420  

Average number of temporary employees

      13,190        (829 )      14,019  

 

*  The number of Employees excludes employees seconded to outside the company and includes employees seconded from outside the company in each consolidated subsidiary. That number also includes overseas local staff but excludes advisers and temporary employees.

   

3. Number of Offices

 

(Domestic) The 2 Banks and Mizuho Securities

 

        
     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Mizuho Bank

      461        —         461  

Mizuho Trust & Banking

      59        (1 )      60  

Mizuho Securities

      225        (5 )      230  

 

*  The above numbers are the numbers of head office, domestic branches (excluding branches and offices for remittance purposes only (46), branches offering account transfer services only (2), branches and offices to maintain shared ATMs only (1), internet branches (1), and pension plan advisory offices (1)), domestic sub-branches, and others.

   

 

(Overseas) The 2 Banks and Mizuho Securities

 

 

     As of
March 31,
2023		      Change     As of
March 31,
2022		  

Mizuho Bank

      48        (1 )      49  

Mizuho Trust & Banking

      —          —         —    

Mizuho Securities

      2        —         2  

 

*  The above numbers are the numbers of overseas branches or relevant offices, and overseas representative offices.

   

 

2-38

Mizuho Financial Group, Inc.

 

4. Earnings Plan for Fiscal 2023

Consolidated

 

     (Billions of yen)  
     Fiscal 2023  

Ordinary Profits

      860.0  

Profit Attributable to Owners of Parent

      610.0  

Non-Consolidated

Mizuho Bank, Mizuho Trust & Banking

 

     (Billions of yen)  
     Fiscal 2023  
     Aggregate Figures
for the 2 Banks		     MHBK     MHTB*  

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) + Net Gains (Losses) related to ETF

      635.0       600.0       35.0  

Ordinary Profits

      605.0       565.0       40.0  

Net Income

      425.0       395.0       30.0  

Credit-related Costs

      (95.0 )      (90.0 )      (5.0 ) 

 

*

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB excludes the amounts of Credit Costs for Trust Accounts.

The above information constitute forward-looking statements. Please see the legend regarding forward-looking statements in CONTENTS.

 

2-39

Mizuho Bank, Ltd.

 

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

 

     Millions of yen  
     As of March 31,
2023 (A)		     As of March 31,
2022 (B)		     Change
(A) - (B)		  

Assets

       

Cash and Due from Banks

    ¥ 63,079,031     ¥ 48,803,771     ¥ 14,275,259  

Call Loans

      1,812,740       1,223,766       588,974  

Receivables under Resale Agreements

      868,058       1,681,260       (813,202 ) 

Guarantee Deposits Paid under Securities Borrowing Transactions

      156,807       154,255       2,552  

Other Debt Purchased

      651,514       679,939       (28,425 ) 

Trading Assets

      5,422,696       4,496,695       926,000  

Money Held in Trust

      504       504       0  

Securities

      37,110,218       44,608,181       (7,497,962 ) 

Loans and Bills Discounted

      87,280,378       82,962,457       4,317,920  

Foreign Exchange Assets

      2,293,584       2,509,122       (215,538 ) 

Derivatives other than for Trading

      8,392,051       6,133,443       2,258,607  

Other Assets

      7,910,755       5,958,848       1,951,907  

Tangible Fixed Assets

      858,037       847,689       10,347  

Intangible Fixed Assets

      352,884       347,681       5,203  

Prepaid Pension Cost

      403,530       440,611       (37,081 ) 

Deferred Tax Assets

      382,227       273,129       109,098  

Customers’ Liabilities for Acceptances and Guarantees

      10,003,767       8,733,646       1,270,120  

Reserves for Possible Losses on Loans

      (701,652 )      (814,778 )      113,126  

Reserve for Possible Losses on Investments

      —         (106 )      106  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 226,277,135     ¥ 209,040,119     ¥ 17,237,015  
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 145,157,919     ¥ 133,633,887     ¥ 11,524,032  

Negotiable Certificates of Deposit

      13,272,253       16,162,209       (2,889,955 ) 

Call Money

      1,229,224       940,058       289,165  

Payables under Repurchase Agreements

      14,106,366       9,293,236       4,813,130  

Guarantee Deposits Received under Securities Lending Transactions

      93,216       146,864       (53,648 ) 

Commercial Paper

      1,782,111       1,775,859       6,251  

Trading Liabilities

      4,574,447       3,447,533       1,126,914  

Borrowed Money

      12,507,802       14,397,626       (1,889,823 ) 

Foreign Exchange Liabilities

      889,189       1,788,299       (899,110 ) 

Bonds and Notes

      585,861       810,504       (224,643 ) 

Derivatives other than for Trading

      8,976,741       6,635,032       2,341,708  

Other Liabilities

      6,320,855       4,302,633       2,018,222  

Reserve for Bonus Payments

      26,406       24,582       1,824  

Reserve for Variable Compensation

      757       763       (6 ) 

Reserve for Possible Losses on Sales of Loans

      15,049       1,309       13,740  

Reserve for Contingencies

      4,781       1,306       3,474  

Reserve for Reimbursement of Deposits

      12,980       16,627       (3,646 ) 

Reserve for Reimbursement of Debentures

      7,798       10,504       (2,706 ) 

Deferred Tax Liabilities for Revaluation Reserve for Land

      58,711       59,962       (1,251 ) 

Acceptances and Guarantees

      10,003,767       8,733,646       1,270,120  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      219,626,240       202,182,447       17,443,793  
  

 

 

    

 

 

    

 

 

  

Net Assets

       

Common Stock and Preferred Stock

      1,404,065       1,404,065       —    

Capital Surplus

      2,259,392       2,259,392       —    

Capital Reserve

      660,805       660,805       —    

Other Capital Surplus

      1,598,587       1,598,587       —    

Retained Earnings

      2,757,032       2,519,294       237,738  

Appropriated Reserve

      421,264       389,012       32,251  

Other Retained Earnings

      2,335,768       2,130,281       205,487  

Retained Earnings Brought Forward

      2,335,768       2,130,281       205,487  
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      6,420,490       6,182,751       237,738  
  

 

 

    

 

 

    

 

 

  

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      468,873       623,367       (154,494 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      (367,790 )      (80,603 )      (287,187 ) 

Revaluation Reserve for Land, net of Taxes

      129,321       132,156       (2,834 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      230,404       674,920       (444,516 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      6,650,894       6,857,672       (206,777 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 226,277,135     ¥ 209,040,119     ¥ 17,237,015  
  

 

 

    

 

 

    

 

 

  

 

2-40

Mizuho Bank, Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK

 

     Millions of yen  
     For the fiscal
year ended
March 31,
2023 (A)		     For the fiscal
year ended
March 31,
2022 (B)		     Change
(A) - (B)		  

Ordinary Income

    ¥ 3,665,159     ¥ 2,147,111     ¥ 1,518,047  

Interest Income

      2,657,640       1,131,111       1,526,528  

Interest on Loans and Bills Discounted

      1,614,231       774,657       839,574  

Interest and Dividends on Securities

      371,369       260,684       110,684  

Fee and Commission Income

      589,189       542,348       46,841  

Trading Income

      6,350       1,664       4,685  

Other Operating Income

      264,425       235,596       28,828  

Other Ordinary Income

      147,553       236,390       (88,836 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Expenses

      3,105,989       1,936,252       1,169,736  

Interest Expenses

      1,786,742       244,322       1,542,419  

Interest on Deposits

      804,311       36,330       767,980  

Fee and Commission Expenses

      177,952       149,353       28,598  

Trading Expenses

      361       —         361  

Other Operating Expenses

      231,355       170,721       60,633  

General and Administrative Expenses

      742,375       744,859       (2,483 ) 

Other Ordinary Expenses

      167,201       626,995       (459,793 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Profits

      559,170       210,858       348,311  
  

 

 

    

 

 

    

 

 

  

Extraordinary Gains

      48,003       70,436       (22,432 ) 
  

 

 

    

 

 

    

 

 

  

Extraordinary Losses

      19,061       32,348       (13,286 ) 
  

 

 

    

 

 

    

 

 

  

Income before Income Taxes

      588,112       248,946       339,165  

Income Taxes:

       

Current

      115,972       172,495       (56,522 ) 

Refund of Income Taxes

      (9,680 )      (12,734 )      3,053  

Deferred

      85,659       (87,395 )      173,055  
  

 

 

    

 

 

    

 

 

  

Net Income

    ¥ 396,161     ¥ 176,581     ¥ 219,579  
  

 

 

    

 

 

    

 

 

  

 

2-41

Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO TRUST & BANKING

 

     Millions of yen  
     As of
March 31,
2023 (A)		     As of
March 31,
2022 (B)		     Change
(A) - (B)		  

Assets

       

Cash and Due from Banks

    ¥ 2,704,297     ¥ 1,923,672     ¥ 780,625  

Guarantee Deposits Paid under Securities Borrowing Transactions

      20,177       20,046       131  

Other Debt Purchased

      32,261       35,314       (3,053 ) 

Money Held in Trust

      27,418       26,556       861  

Securities

      265,136       288,530       (23,394 ) 

Loans and Bills Discounted

      3,065,766       3,192,348       (126,582 ) 

Foreign Exchange Assets

      5,160       3,898       1,262  

Other Assets

      277,573       255,755       21,818  

Tangible Fixed Assets

      93,577       100,132       (6,554 ) 

Intangible Fixed Assets

      18,929       21,728       (2,798 ) 

Prepaid Pension Cost

      71,058       66,607       4,450  

Customers’ Liabilities for Acceptances and Guarantees

      13,655       14,100       (445 ) 

Reserves for Possible Losses on Loans

      (3,601 )      (2,470 )      (1,130 ) 
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 6,591,410     ¥ 5,946,221     ¥ 645,189  
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 2,780,028     ¥ 2,571,352     ¥ 208,676  

Negotiable Certificates of Deposit

      470,180       691,880       (221,700 ) 

Call Money

      907,935       603,990       303,945  

Borrowed Money

      303,400       300,000       3,400  

Due to Trust Accounts

      1,534,097       1,167,284       366,812  

Other Liabilities

      28,363       31,317       (2,953 ) 

Reserve for Bonus Payments

      3,134       2,741       393  

Reserve for Variable Compensation

      245       272       (26 ) 

Provision for Retirement Benefits

      2,273       4,935       (2,662 ) 

Reserve for Reimbursement of Deposits

      714       992       (278 ) 

Reserve for Loss of Transfer

      —         3,061       (3,061 ) 

Deferred Tax Liabilities

      22,527       17,484       5,043  

Acceptances and Guarantees

      13,655       14,100       (445 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      6,066,558       5,409,413       657,144  
  

 

 

    

 

 

    

 

 

  

Net Assets

       

Common Stock and Preferred Stock

      247,369       247,369       —    

Capital Surplus

      15,505       15,505       —    

Capital Reserve

      15,505       15,505       —    

Retained Earnings

      275,474       296,471       (20,997 ) 

Appropriated Reserve

      159,891       150,297       9,593  

Other Retained Earnings

      115,583       146,174       (30,591 ) 

Retained Earnings Brought Forward

      115,583       146,174       (30,591 ) 

Treasury Stock

      (79,999 )      (79,999 )      —    
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      458,349       479,346       (20,997 ) 
  

 

 

    

 

 

    

 

 

  

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      61,861       57,707       4,153  

Net Deferred Hedge Gains (Losses), net of Taxes

      4,642       (246 )      4,888  
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      66,503       57,460       9,042  
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      524,852       536,807       (11,954 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 6,591,410     ¥ 5,946,221     ¥ 645,189  
  

 

 

    

 

 

    

 

 

  

 

2-42

Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO TRUST & BANKING

 

     Millions of yen  
     For the fiscal
year ended
March 31, 2023
(A)		      For the fiscal
year ended
March 31, 2022
(B)		      Change
(A) - (B)		  

Ordinary Income

    ¥ 162,102      ¥ 173,959      ¥ (11,857 ) 

Fiduciary Income

      59,527        61,028        (1,500 ) 

Interest Income

      26,283        26,345        (62 ) 

Interest on Loans and Bills Discounted

      19,376        19,640        (263 ) 

Interest and Dividends on Securities

      5,088        4,926        162  

Fee and Commission Income

      68,350        79,058        (10,707 ) 

Other Operating Income

      13        369        (356 ) 

Other Ordinary Income

      7,927        7,157        769  
  

 

 

     

 

 

     

 

 

  

Ordinary Expenses

      124,051        123,363        687  

Interest Expenses

      6,611        7,049        (438 ) 

Interest on Deposits

      186        296        (110 ) 

Fee and Commission Expenses

      37,569        36,795        773  

Trading Expenses

      —          640        (640 ) 

Other Operating Expenses

      189        12        176  

General and Administrative Expenses

      74,465        75,132        (666 ) 

Other Ordinary Expenses

      5,215        3,733        1,482  
  

 

 

     

 

 

     

 

 

  

Ordinary Profits

      38,051        50,595        (12,544 ) 
  

 

 

     

 

 

     

 

 

  

Extraordinary Gains

      5,720        7,742        (2,021 ) 
  

 

 

     

 

 

     

 

 

  

Extraordinary Losses

      5,762        443        5,318  
  

 

 

     

 

 

     

 

 

  

Income before Income Taxes

      38,009        57,894        (19,884 ) 

Income Taxes:

         

Current

      10,043        10,651        (607 ) 

Deferred

      995        4,559        (3,564 ) 
  

 

 

     

 

 

     

 

 

  

Net Income

    ¥ 26,970      ¥ 42,683      ¥ (15,712 ) 
  

 

 

     

 

 

     

 

 

  

 

2-43

Mizuho Trust & Banking Co., Ltd.

 

(Reference)

Statement of Trust Assets and Liabilities

As of March 31, 2023

 

Millions of yen

  

Assets

    Amount     

Liabilities

    Amount  

Loans and Bills Discounted

      572,414      Money Trusts      29,178,683  

Securities

      42,170      Pension Trusts      3,201,484  

Beneficiary Rights to the Trusts

      71,061,503      Property Formation Benefit Trusts      3,737  

Securities held in Custody Accounts

      373,412      Investment Trusts      20,450,405  

Money Claims

      12,647,622      Money Entrusted Other than Money Trusts      2,129,418  

Tangible Fixed Assets

      10,879,470      Securities Trusts      15,094,438  

Intangible Fixed Assets

      340,953      Money Claims Trusts      11,520,986  

Other Claims

      1,201,474      Land and Fixtures Trusts      709,057  

Due from Banking Account

      1,534,097      Composite Trusts      16,874,039  

Cash and Due from Banks

      514,597      Other Trusts      5,463  
  

 

 

        

 

 

  

Total

      99,167,715     

Total

      99,167,715  
  

 

 

        

 

 

  

 

Notes:

1.

The statement is exclusive of Trusts that are difficult to value monetarily.

2.

Beneficiary Rights to the Trusts include entrusted Trusts for asset maintenance of ¥68,720,918 million.

3.

Joint trust assets under the management of other companies: ¥168,454 million.

4.

There is no balance of Claims against Bankrupt and Substantially Bankrupt Obligors, Claims with Collection Risk, Loans Past Due for 3 Months or More or Restructured Loans in the claims of trust accounts that guarantee principals in the agreement of ¥2,814 million.

(Reference) Breakdown of Accounts of Money Trusts and Loan Trusts with the contracts of principal indemnification (including Trusts entrusted for asset management) are as follows:

Money Trusts

 

Millions of yen

  

Assets

    Amount     

Liabilities

    Amount  

Loans and Bills Discounted

      2,814      Principal      835,674  

Securities

      1      Reserve      9  

Others

      832,943      Others      74  
  

 

 

        

 

 

  

Total

         835,758     

Total

           835,758  
  

 

 

        

 

 

  

 

2-44

Mizuho Trust & Banking Co., Ltd.

 

(Reference)

Comparison of Balances of Principal Items

 

     Millions of yen  

Items

    As of
March 31,
2023 (A)		      As of
March 31,
2022 (B)		      Change
(A) - (B)		  

Total Amount of Funds

      35,634,113        36,350,351        (716,237 ) 

Deposits

      2,780,028        2,571,352        208,676  

Negotiable Certificates of Deposit

      470,180        691,880        (221,700 ) 

Money Trusts

      29,178,683        29,909,179        (730,495 ) 

Pension Trusts

      3,201,484        3,173,021        28,462  

Property Formation Benefit Trusts

      3,737        4,918        (1,181 ) 

Loans and Bills Discounted

      3,638,180        3,689,533        (51,353 ) 

of Banking accounts

      3,065,766        3,192,348        (126,582 ) 

of Trust accounts

      572,414        497,185        75,229  

Securities for Investments

      307,306        357,726        (50,420 ) 

of Banking accounts

      265,136        288,530        (23,394 ) 

of Trust accounts

      42,170        69,195        (27,025 ) 

 

2-45

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES

 

     Millions of yen  
     As of
March 31,
2023 (A)		     As of
March 31,
2022 (B)		     Change
(A) - (B)		  

Assets

       

Current Assets

       

Cash and Bank Deposits

    ¥ 866,603     ¥ 405,261     ¥ 461,342  

Cash Segregated as Deposits for Customers and Others

      462,232       541,274       (79,042 ) 

Trading Assets

      6,430,652       6,921,502       (490,850 ) 

Receivables - Unsettled Trades

      —         145,887       (145,887 ) 

Operating Investment Securities

      90,676       40,926       49,749  

Operating Loans Receivable

      9,611       —         9,611  

Receivables Related to Margin Transactions

      25,742       34,802       (9,059 ) 

Collateralized Short-Term Financing Agreements-Receivable

      4,722,172       4,707,548       14,623  

Advances Paid

      1,372       94       1,278  

Securities: Fail to Deliver

      30,155       32,415       (2,259 ) 

Short-Term Loans Receivable

      7,881       47,983       (40,102 ) 

Other Current Assets

      563,427       700,334       (136,906 ) 

Less: Allowance for Doubtful Accounts

      (64 )      (79 )      14  

Noncurrent Assets

       

Property and Equipment

      16,992       18,742       (1,750 ) 

Intangible Assets

      44,747       68,497       (23,750 ) 

Investments and Other Assets

      458,184       304,034       154,150  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 13,730,388     ¥ 13,969,227     ¥ (238,839 ) 
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Current Liabilities

       

Trading Liabilities

    ¥ 5,918,952     ¥ 5,356,537     ¥ 562,414  

Payables - Unsettled Trades

      36,516       —         36,516  

Payables Related to Margin Transactions

      37,624       50,556       (12,932 ) 

Collateralized Short-Term Financing Agreements-Payable

      3,318,666       4,144,682       (826,016 ) 

Deposits Received

      385,028       425,452       (40,424 ) 

Guarantee Deposits Received

      191,053       425,613       (234,560 ) 

Securities: Fail to Receive

      1,018       7,083       (6,064 ) 

Short-Term Borrowings

      957,701       904,079       53,622  

Commercial Paper

      436,000       490,500       (54,500 ) 

Bonds and Notes Due within One Year

      303,842       148,768       155,073  

Income Taxes Payable

      3,624       2,515       1,109  

Accrued Employees’ Bonuses

      15,390       25,379       (9,989 ) 

Provision for Variable Compensation

      401       411       (9 ) 

Other Current Liabilities

      49,852       46,970       2,882  

Noncurrent Liabilities

       

Bonds and Notes

      641,254       753,870       (112,615 ) 

Long-Term Borrowings

      724,100       580,000       144,100  

Provision for Retirement Benefits

      21,790       22,579       (789 ) 

Reserve for Loss of Transfer

      923       1,541       (617 ) 

Other Noncurrent Liabilities

      3,895       3,769       126  

Statutory Reserves

       

Reserve for Financial Instruments Transaction Liabilities

      3,352       3,132       220  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      13,050,989       13,393,441       (342,452 ) 
  

 

 

    

 

 

    

 

 

  

Net Assets

       

Common Stock

      125,167       125,167       —    

Capital Surplus

      407,071       381,649       25,421  

Additional Paid - in Capital

      285,831       285,831       —    

Other Capital Surplus

      121,239       95,817       25,421  

Retained Earnings

      394,868       425,554       (30,685 ) 

Other Retained Earnings

      394,868       425,554       (30,685 ) 

Retained Earnings Brought Forward

      394,868       425,554       (30,685 ) 

Treasury Stock

      (257,520 )      (369,999 )      112,479  
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      669,587       562,371       107,216  
  

 

 

    

 

 

    

 

 

  

Net Unrealized Gains on (Operating) Investment Securities, net of Tax

      19,610       23,193       (3,583 ) 

Net Deferred Gains or Losses on Hedges, net of Tax

      (9,798 )      (9,778 )      (20 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      9,811       13,415       (3,603 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      679,398       575,786       103,612  
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 13,730,388     ¥ 13,969,227     ¥ (238,839 ) 
  

 

 

    

 

 

    

 

 

  

 

2-46

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO SECURITIES

 

     Millions of yen  
     For the fiscal
year ended
March 31, 2023
(A)		     For the fiscal
year ended
March 31, 2022
(B)		     Change
(A) - (B)		  

Operating Revenues

    ¥ 372,379     ¥ 380,505     ¥ (8,125 ) 

Commissions

      143,118       183,633       (40,514 ) 

Net Gain on Trading

      90,648       123,761       (33,112 ) 

Net Gain on Operating Investment Securities

      1,204       (2,831 )      4,036  

Interest and Dividend Income

      137,406       75,942       61,463  
  

 

 

    

 

 

    

 

 

  

Interest Expenses

      120,444       53,612       66,831  
  

 

 

    

 

 

    

 

 

  

Net Operating Revenues

      251,934       326,892       (74,957 ) 
  

 

 

    

 

 

    

 

 

  

Selling, General and Administrative Expenses

      230,326       251,967       (21,641 ) 

Transaction-Related Expenses

      52,590       70,197       (17,606 ) 

Personnel Expenses

      83,735       96,131       (12,395 ) 

Real Estate Expenses

      27,558       21,017       6,540  

Administrative Expenses

      41,437       39,150       2,286  

Depreciation and Amortization

      16,599       17,770       (1,170 ) 

Taxes and Dues

      5,586       5,252       334  

Provision of Allowance for Doubtful Accounts

      53       36       16  

Other

      2,764       2,411       353  
  

 

 

    

 

 

    

 

 

  

Operating Income

      21,608       74,924       (53,316 ) 
  

 

 

    

 

 

    

 

 

  

Non-Operating Income

      2,952       3,437       (484 ) 

Non-Operating Expenses

      227       506       (279 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Income

      24,333       77,855       (53,522 ) 
  

 

 

    

 

 

    

 

 

  

Extraordinary Gain

      19,300       3,738       15,561  
  

 

 

    

 

 

    

 

 

  

Extraordinary Loss

      44,026       10,627       33,398  
  

 

 

    

 

 

    

 

 

  

Income before Income Taxes

      (393 )      70,966       (71,359 ) 

Income Taxes:

       

Current

      3,737       10,303       (6,565 ) 

Deferred

      (28,428 )      203       (28,632 ) 
  

 

 

    

 

 

    

 

 

  

Net Income

    ¥ 24,297     ¥ 60,459     ¥ (36,161 ) 
  

 

 

    

 

 

    

 

 

  

 

2-47

Mizuho Financial (NYSE:MFG)
Historical Stock Chart
From Jan 2025 to Feb 2025 Click Here for more Mizuho Financial Charts.
Mizuho Financial (NYSE:MFG)
Historical Stock Chart
From Feb 2024 to Feb 2025 Click Here for more Mizuho Financial Charts.