MIZUHO FINANCIAL GROUP INC (Form: 6-K, Received: 07/29/2022 06:14:47)

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 July 2022

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NO. 333-233354) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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:		July 29, 2022

Mizuho Financial Group, Inc.

By:		/s/ Makoto Umemiya
Name:		Makoto Umemiya
Title:		Deputy President & Senior Executive Officer / Group CFO

For Immediate Release:

Consolidated Financial Statements for the First Quarter of Fiscal 2022

(Under Japanese GAAP)


Company Name:		Mizuho Financial Group, Inc. (“MHFG”)				July 29, 2022


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
Filing of Shihanki Hokokusho (scheduled):		August 12, 2022	Trading Accounts:	Established
Commencement of Dividend Payment (scheduled):		—
Supplementary Materials on Quarterly Results:		Attached
IR Conference on Quarterly Results:		Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2022 (for the three months ended June 30, 2022)

(1) Consolidated Results of Operations


(%: Changes from the corresponding period of the previous fiscal year)
	Ordinary Income					Ordinary Profits					Profit Attributable to Owners of Parent
	¥ million		%			¥ million		%			¥ million		%
1Q F2022		1,235,090		67.5			204,237		(6.6	)		159,294		(36.4	)
1Q F2021		737,009		(11.8	)		218,757		24.7			250,541		104.7

Note:

Comprehensive Income:

1Q F2022: ¥(66,832) million, (132.6)%; 1Q F2021: ¥204,730 million, 6.2%


	Net Income per Share of Common Stock		Diluted Net Income per Share of Common Stock
	¥		¥
1Q F2022		62.85		62.85
1Q F2021		98.81		98.81

(2) Consolidated Financial Conditions


	Total Assets		Total Net Assets		Own Capital Ratio
	¥ million		¥ million		%
1Q F2022		250,620,959		8,979,480		3.5
Fiscal 2021		237,066,142		9,201,031		3.8

Reference:

Own Capital:

As of June 30, 2022: ¥ 8,908,035 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.

2. Cash Dividends for Shareholders of Common Stock


	Annual Cash Dividends per Share
	First quarter-end		Second quarter-end		Third quarter-end		Fiscal year-end		Total
	¥		¥		¥		¥		¥
Fiscal 2021		—		40.00		—		40.00		80.00
Fiscal 2022		—
Fiscal 2022 (estimate)		—		40.00		—		40.00		80.00



Note:		Revision of the latest announced estimates for cash dividends for shareholders of common stock : No

3. Consolidated Earnings Estimates for Fiscal 2022 (for the fiscal year ending March 31, 2023)


	(%: Changes from the corresponding period of the previous fiscal year)
		Profit Attributable to Owners of Parent				Net Income per Share of Common Stock
		¥ million		%		¥
Fiscal 2022 H1			—		—		—
Fiscal 2022			540,000		1.7		212.99



Notes:	1.	Revision of the latest announced earnings estimates for fiscal 2022: No
	2.	The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares during 1Q and the number of outstanding shares as of June 30, 2022 (which is used as a proxy for the average number of outstanding shares during 2Q-4Q).

Notes

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

(2) Adoption of Specified Accounting Methods for the Preparation of Quarterly Consolidated Financial Statements: No

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

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

Changes in accounting policies other than i above: No

iii

Changes in accounting estimates: No

Restatements: No

Note: For more information, please refer to “1.(1) Changes in Accounting Policies and Accounting Estimates / Restatements” on page 1-2 of the attachment.

(4) Issued Shares of Common Stock

i Period-end issued shares (including treasury stock):

As of June 30, 2022

2,539,249,894 shares

As of March 31, 2022

2,539,249,894 shares

ii Period-end treasury stock:

As of June 30, 2022

5,654,995 shares

As of March 31, 2022

4,659,024 shares

iii Average outstanding shares (first quarter):

1Q Fiscal 2022

2,534,214,481 shares

1Q Fiscal 2021

2,535,338,709 shares

This immediate release is outside the scope of quarterly review by certified public accountants or audit firms.

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 the corona virus pandemic; 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”), which is 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.	Matters Related to Summary Information (Notes)	p. 1-2
	(1) Changes in Accounting Policies and Accounting Estimates / Restatements	p. 1-2

2.	Quarterly Consolidated Financial Statements and Others	p. 1-3
	(1) Consolidated Balance Sheets	p. 1-3
	(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	p. 1-5
	(3) Note for Assumption of Going Concern	p. 1-7
	(4) Note for Significant Changes in the Amount of Shareholders’ Equity	p. 1-7
	ø SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 2022

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.

1-1

Mizuho Financial Group, Inc.

1. Matters Related to Summary Information (Notes)

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

(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 first quarter ended June 30, 2022. In accordance with the transitional treatment set out in Article 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.

1-2

Mizuho Financial Group, Inc.

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets


	*Millions of yen*
	As of March 31, 2022			As of June 30, 2022
Assets
Cash and Due from Banks	¥	51,359,301		¥	53,943,945
Call Loans and Bills Purchased		940,008			1,001,480
Receivables under Resale Agreements		12,750,363			12,749,686
Guarantee Deposits Paid under Securities Borrowing Transactions		2,340,089			2,095,473
Other Debt Purchased		3,476,021			3,455,681
Trading Assets		13,221,415			16,874,136
Money Held in Trust		591,183			580,751
Securities		44,641,060			43,386,299
Loans and Bills Discounted		84,736,280			88,851,747
Foreign Exchange Assets		2,627,492			3,461,306
Derivatives other than for Trading Assets		2,277,160			3,553,686
Other Assets		7,797,796			8,838,016
Tangible Fixed Assets		1,095,977			1,097,290
Intangible Fixed Assets		601,292			601,425
Net Defined Benefit Asset		863,217			861,773
Deferred Tax Assets		184,594			353,533
Customers’ Liabilities for Acceptances and Guarantees		8,346,878			9,417,890
Reserves for Possible Losses on Loans		(783,886	)		(503,058	)
Reserve for Possible Losses on Investments		(107	)		(107	)

Total Assets	¥	237,066,142		¥	250,620,959

1-3

Mizuho Financial Group, Inc.


	*Millions of yen*
	As of March 31, 2022			As of June 30, 2022
Liabilities
Deposits	¥	138,830,872		¥	137,290,100
Negotiable Certificates of Deposit		16,868,931			21,315,830
Call Money and Bills Sold		1,278,050			1,609,126
Payables under Repurchase Agreements		20,068,779			24,124,124
Guarantee Deposits Received under Securities Lending Transactions		1,172,248			1,153,134
Commercial Paper		1,775,859			1,448,280
Trading Liabilities		9,608,976			13,096,908
Borrowed Money		6,590,527			6,301,917
Foreign Exchange Liabilities		1,508,453			644,324
Short-term Bonds		537,167			521,031
Bonds and Notes		10,714,004			11,523,527
Due to Trust Accounts		1,167,284			1,120,207
Derivatives other than for Trading Liabilities		2,770,852			4,502,928
Other Liabilities		6,301,484			7,345,165
Reserve for Bonus Payments		120,052			30,766
Reserve for Variable Compensation		2,278			2,534
Net Defined Benefit Liability		71,774			70,836
Reserve for Director and Corporate Auditor Retirement Benefits		557			426
Reserve for Possible Losses on Sales of Loans		1,309			2,967
Reserve for Contingencies		6,622			7,890
Reserve for Reimbursement of Deposits		17,620			16,577
Reserve for Reimbursement of Debentures		10,504			9,771
Reserves under Special Laws		3,132			3,131
Deferred Tax Liabilities		30,923			22,203
Deferred Tax Liabilities for Revaluation Reserve for Land		59,962			59,874
Acceptances and Guarantees		8,346,878			9,417,890

Total Liabilities	¥	227,865,110		¥	241,641,478

Net Assets
Common Stock	¥	2,256,767		¥	2,256,767
Capital Surplus		1,125,324			1,129,388
Retained Earnings		4,756,435			4,814,355
Treasury Stock		(8,342	)		(9,906	)

Total Shareholders’ Equity		8,130,185			8,190,605

Net Unrealized Gains (Losses) on Other Securities		719,822			403,818
Deferred Gains or Losses on Hedges		(76,757	)		(104,189	)
Revaluation Reserve for Land		132,156			131,957
Foreign Currency Translation Adjustments		2,346			127,222
Remeasurements of Defined Benefit Plans		169,652			158,660
Own Credit Risk Adjustments, Net of Tax		(23	)		(39	)

Total Accumulated Other Comprehensive Income		947,197			717,429

Stock Acquisition Rights		94			69
Non-controlling Interests		123,555			71,375

Total Net Assets		9,201,031			8,979,480

Total Liabilities and Net Assets	¥	237,066,142		¥	250,620,959

1-4

Mizuho Financial Group, Inc.

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

Consolidated Statements of Income


	*Millions of yen*
	For the three months ended June 30, 2021			For the three months ended June 30, 2022
Ordinary Income	¥	737,009		¥	1,235,090
Interest Income		293,342			444,862
Interest on Loans and Bills Discounted		210,675			275,979
Interest and Dividends on Securities		46,524			80,623
Fiduciary Income		14,997			14,299
Fee and Commission Income		196,859			200,034
Trading Income		103,004			355,522
Other Operating Income		55,348			180,144
Other Ordinary Income		73,458			40,227
Ordinary Expenses		518,251			1,030,852
Interest Expenses		70,470			191,616
Interest on Deposits		14,464			56,662
Fee and Commission Expenses		39,405			40,854
Trading Expenses		128			348,543
Other Operating Expenses		26,394			21,909
General and Administrative Expenses		335,331			350,591
Other Ordinary Expenses		46,521			77,337

Ordinary Profits		218,757			204,237

Extraordinary Gains		28,954			3,580
Extraordinary Losses		1,530			463

Income before Income Taxes		246,181			207,355

Income Taxes:
Current		32,687			64,411
Deferred		(39,393	)		(18,875	)

Total Income Taxes		(6,705	)		45,535

Profit		252,887			161,819

Profit Attributable to Non-controlling Interests		2,345			2,525

Profit Attributable to Owners of Parent	¥	250,541		¥	159,294

1-5

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income


	*Millions of yen*
	For the three months ended June 30, 2021			For the three months ended June 30, 2022
Profit	¥	252,887		¥	161,819
Other Comprehensive Income		(48,156	)		(228,652	)
Net Unrealized Gains (Losses) on Other Securities		(53,348	)		(317,031	)
Deferred Gains or Losses on Hedges		(8,635	)		(27,323	)
Foreign Currency Translation Adjustments		38,509			115,854
Remeasurements of Defined Benefit Plans		(32,036	)		(10,934	)
Own Credit Risk Adjustments, Net of Tax		—			(16	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		7,353			10,800

Comprehensive Income		204,730			(66,832	)

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		200,559			(70,274	)
Comprehensive Income Attributable to Non-controlling Interests		4,170			3,442

1-6

Mizuho Financial Group, Inc.

(3) Note for Assumption of Going Concern

There is no applicable information.

(4) Note for Significant Changes in the Amount of Shareholders’ Equity

There is no applicable information.

1-7

SELECTED FINANCIAL INFORMATION

For the First Quarter of Fiscal 2022

(Under Japanese GAAP)

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

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

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


FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2022	*See above Notes*		*Page*

1. Income Analysis	CON	NON		2- 1

2. Net Gains/Losses on Stocks	CON	NON		2- 3

3. Unrealized Gains/Losses on Securities	CON	NON		2- 4

4. Deferred Hedge Gains/Losses on Derivative Transactions Qualifying for Hedge Accounting	NON			2- 7

5. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial Reconstruction Act (“FRA”)	CON	NON		2- 8

6. Status of Deposits and Loans	NON			2- 12


Attachments	*Page*
Mizuho Bank, Ltd.
Comparison of Non-Consolidated Balance Sheets (selected items)		2- 14
Comparison of Non-Consolidated Statements of Income (selected items)		2- 15
Mizuho Trust & Banking Co., Ltd.
Comparison of Non-Consolidated Balance Sheets (selected items)		2- 16
Comparison of Non-Consolidated Statements of Income (selected items)		2- 17
Mizuho Securities Co., Ltd.
Comparison of Non-Consolidated Balance Sheets (selected items)		2- 18
Comparison of Non-Consolidated Statements of Income (selected items)		2- 19

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 the corona virus pandemic; 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”), which is 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.

Mizuho Financial Group, Inc.

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2022

1. Income Analysis

Consolidated


		*(Billions of yen)*
		First Quarter of Fiscal 2022						First Quarter of Fiscal 2021
					Change			First Quarter of Fiscal 2021
Consolidated Gross Profits	1		591.9			64.7			527.1
Net Interest Income	2		253.2			30.3			222.8
Fiduciary Income	3		14.2			(0.6	)		14.9
Credit Costs for Trust Accounts	4		—			—			—
Net Fee and Commission Income	5		159.1			1.7			157.4
Net Trading Income	6		6.9			(95.8	)		102.8
Net Other Operating Income	7		158.2			129.2			28.9
General and Administrative Expenses	8		(350.5	)		(15.2	)		(335.3	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)	9		(67.0	)		(61.5	)		(5.4	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	10		2.2			(5.9	)		8.1
Net Gains (Losses) related to Stocks	11		20.4			(3.5	)		23.9
Equity in Income from Investments in Affiliates	12		5.5			(7.1	)		12.7
Other	13		1.7			14.1			(12.4	)

Ordinary Profits	14		204.2			(14.5	)		218.7

Net Extraordinary Gains (Losses)	15		3.1			(24.3	)		27.4
Income before Income Taxes	16		207.3			(38.8	)		246.1
Income Taxes	17		(45.5	)		(52.2	)		6.7
Profit	18		161.8			(91.0	)		252.8
Profit Attributable to Non-controlling Interests	19		(2.5	)		(0.1	)		(2.3	)

Profit Attributable to Owners of Parent	20		159.2			(91.2	)		250.5


Credit-related Costs (including Credit Costs for Trust Accounts)	21		(64.8	)		(67.5	)		2.6
Credit-related Costs [21] = 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 [10] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits	22		236.1			41.7			194.3
Consolidated Net Business Profits [22] = 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	23		165			5			160
Number of affiliates under the equity method	24		24			(4	)		28

2-1

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks


		*(Billions of yen)*
		First Quarter of Fiscal 2022												First Quarter of Fiscal 2021
		MHBK			MHTB			Aggregate Figures			Change			First Quarter of Fiscal 2021
Gross Profits	1		376.7			23.7			400.4			61.5			338.9
Net Interest Income	2		232.8			4.5			237.4			39.5			197.8
Fiduciary Income	3					14.4			14.4			(0.6	)		15.1
Trust Fees for Jointly Operated Designated Money Trust	4					*0.9*			*0.9*			(0.0	)		0.9
Credit Costs for Trust Accounts	5					—			—			—			—
Net Fee and Commission Income	6		83.9			4.7			88.7			(0.7	)		89.4
Net Trading Income	7		(58.3	)		—			(58.3	)		(88.2	)		29.9
Net Other Operating Income	8		118.1			0.0			118.2			111.6			6.5
General and Administrative Expenses (excluding Non-Recurring Losses)	9		(194.2	)		(20.3	)		(214.6	)		0.1			(214.8	)

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)⁽¹⁾	10		182.4			3.3			185.8			61.6			124.1
Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas⁽²⁾	11		165.8			3.3			169.2			52.1			117.0
Excluding Net Gains (Losses) from redemption of Investment Trusts	12		*148.2*			*3.3*			*151.6*			38.0			113.6

Reversal of (Provision for) General Reserve for Losses on Loans	13		(12.2	)		—			(12.2	)		(12.2	)		(0.0	)

Net Business Profits	14		170.1			3.3			173.5			49.4			124.1
Net Gains (Losses) related to Bonds	15		*16.6*			*(0.0*	)		*16.5*			9.5			7.0

Net Non-Recurring Gains (Losses)	16		(34.6	)		1.4			(33.1	)		(57.8	)		24.6
Net Gains (Losses) related to Stocks	17		*18.6*			*0.1*			*18.8*			(3.6	)		22.4
Expenses related to Portfolio Problems	18		*(64.8*	)		—			*(64.8*	)		(59.9	)		(4.9	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	19		*2.1*			*0.0*			*2.2*			(5.9	)		8.1
Other	20		*9.4*			*1.1*			*10.5*			11.6			(1.0	)

Ordinary Profits	21		135.5			4.8			140.3			(8.3	)		148.7

Net Extraordinary Gains (Losses)	22		3.1			3.3			6.4			(21.2	)		27.6
Income before Income Taxes	23		138.6			8.1			146.8			(29.6	)		176.4
Income Taxes	24		(37.4	)		(2.2	)		(39.7	)		36.1			(75.9	)

Net Income	25		101.2			5.8			107.0			6.5			100.5

(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” [5]. (2) Net Business Profits (before Reversal of (Provision for) General Reverse for Losses on Loans) from core business areas[11] =Net Business Profits (before Reversal of (Provision for) General Reverse for Losses on Loans)[10]-Net Gains (Losses) related to Bonds[15]

Credit-related Costs	26		(74.9	)		0.0			(74.8	)		(78.0	)		3.2
Credit-related Costs [26] = Expenses related to Portfolio Problems [18] + Reversal of (Provision for) General Reserve for Losses on Loans [13] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [19] + Credit Costs for Trust Accounts [5]

Reference: Breakdown of Credit-related Costs
Credit Costs for Trust Accounts	27					—			—			—			—
Reversal of (Provision for) General Reserve for Losses on Loans	28		(12.2	)		0.0			(12.1	)		(6.7	)		(5.4	)
Losses on Write-offs of Loans	29		(48.6	)		0.0			(48.6	)		(45.6	)		(2.9	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans	30		(15.5	)		0.0			(15.5	)		(26.9	)		11.3
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries	31		1.4			—			1.4			1.3			0.0
Reversal of (Provision for) Reserve for Contingencies	32		0.2			—			0.2			(0.0	)		0.2
Other (including Losses on Sales of Loans)	33		(0.2	)		—			(0.2	)		(0.1	)		(0.0	)
Total	34		(74.9	)		0.0			(74.8	)		(78.0	)		3.2

2-2

Mizuho Financial Group, Inc.

2. Net Gains/Losses on Stocks

Consolidated


	*(Billions of yen)*
	First Quarter of Fiscal 2022			Change			First Quarter of Fiscal 2021
Net Gains (Losses) related to Stocks		20.4			(3.5	)		23.9
Gains on Sales		24.6			(24.7	)		49.4
Losses on Sales		(5.1	)		10.2			(15.3	)
Impairment (Devaluation)		(0.4	)		1.9			(2.3	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		1.3			9.0			(7.7	)
Non-Consolidated
Aggregate Figures for the 2 Banks
	First Quarter of Fiscal 2022			Change			First Quarter of Fiscal 2021
Net Gains (Losses) related to Stocks		18.8			(3.6	)		22.4
Gains on Sales		22.3			(24.6	)		46.9
Losses on Sales		(4.6	)		10.2			(14.8	)
Impairment (Devaluation)		(0.2	)		1.7			(1.9	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		1.3			9.0			(7.7	)

Mizuho Bank
	First Quarter of Fiscal 2022			Change			First Quarter of Fiscal 2021
Net Gains (Losses) related to Stocks		18.6			(3.5	)		22.2
Gains on Sales		22.1			(24.4	)		46.6
Losses on Sales		(4.6	)		10.1			(14.8	)
Impairment (Devaluation)		(0.2	)		1.6			(1.9	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		1.3			9.0			(7.7	)

Mizuho Trust & Banking
	First Quarter of Fiscal 2022			Change			First Quarter of Fiscal 2021
Net Gains (Losses) related to Stocks		0.1			(0.1	)		0.2
Gains on Sales		0.1			(0.1	)		0.3
Losses on Sales		(0.0	)		0.0			(0.0	)
Impairment (Devaluation)		(0.0	)		0.0			(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		—			—			—

2-3

Mizuho Financial Group, Inc.

3. Unrealized Gains/Losses on Securities

•

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

Consolidated

(1) Other Securities

(Billions of yen)

As of June 30, 2022

As of March 31, 2022

Book Value
(=Fair Value)

Unrealized Gains/Losses

Book Value
(=Fair Value)

Unrealized Gains/Losses

Gains

Losses

Gains

Losses

MHFG (Consolidated)

Other Securities

40,636.0

531.3

1,495.1

963.8

42,065.7

990.1

1,593.7

603.6

Japanese Stocks

2,485.1

1,412.9

1,446.7

33.7

2,577.3

1,499.9

1,538.3

38.4

Japanese Bonds

25,024.7

(57.9

)

17.5

75.5

28,620.4

(52.1)

19.7

71.9

Japanese Government Bonds

21,402.1

(34.1

)

6.3

40.5

25,158.7

(30.5)

7.4

38.0

Other

13,126.1

(823.7

)

30.9

854.6

10,867.9

(457.5

)

35.5

493.1

Foreign Bonds

11,330.8

(709.2

)

6.9

716.1

8,937.5

(414.2

)

2.3

416.6

*	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.

*	Unrealized Gains/Losses include ¥20.4 billion and ¥27.4 billion, which were recognized in the statement of income for June 30, 2022 and March 31, 2022 respectively, by applying the fair-value hedge accounting.

*	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 June 30, 2022 and March 31, 2022 are ¥260.5 billion and ¥126.2 billion, respectively.

(2) Bonds Held to Maturity

(Billions of yen)

As of June 30, 2022

As of March 31, 2022

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

Gains

Losses

Gains

Losses

MHFG (Consolidated)

1,811.0

(106.0)

4.6

110.7

1,517.5

(52.0)

5.3

57.3

2-4

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities


	*(Billions of yen)*
	As of June 30, 2022									As of March 31, 2022
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses
MHBK
Other Securities		39,828.1		394.8			1,353.8		959.0		41,243.3		846.8			1,446.7		599.8
Japanese Stocks		2,262.0		1,278.8			1,308.6		29.7		2,349.0		1,360.4			1,395.9		35.4
Japanese Bonds		24,918.3		(58.6	)		16.8		75.4		28,517.0		(52.9	)		18.9		71.9
Japanese Government Bonds		*21,390.8*		*(34.1*	)		*6.3*		*40.5*		25,147.5		(30.5	)		7.4		38.0
Other		12,647.8		(825.4	)		28.3		853.7		10,377.2		(460.6	)		31.8		492.4
Foreign Bonds		*10,890.2*		*(709.3*	)		*5.9*		*715.3*		8,487.9		(414.8	)		1.1		416.0
MHTB
Other Securities		241.9		72.2			78.4		6.2		240.3		73.0			78.3		5.3
Japanese Stocks		147.4		71.0			77.3		6.2		148.2		71.8			77.1		5.2
Japanese Bonds		88.5		0.6			0.6		0.0		86.4		0.7			0.8		0.0
Japanese Government Bonds		—		—			—		—		—		—			—		—
Other		5.9		0.4			0.4		0.0		5.6		0.4			0.4		0.0
Foreign Bonds		—		—			—		—		—		—			—		—
Total
Other Securities		40,070.1		467.0			1,432.3		965.2		41,483.6		919.9			1,525.1		605.1
Japanese Stocks		2,409.4		1,349.9			1,385.9		35.9		2,497.3		1,432.3			1,473.0		40.7
Japanese Bonds		25,006.9		(57.9	)		17.5		75.5		28,603.4		(52.1	)		19.7		71.9
Japanese Government Bonds		*21,390.8*		*(34.1*	)		*6.3*		*40.5*		25,147.5		(30.5	)		7.4		38.0
Other		12,653.8		(824.9	)		28.8		853.7		10,382.9		(460.1	)		32.3		492.4
Foreign Bonds		*10,890.2*		*(709.3*	)		*5.9*		*715.3*		8,487.9		(414.8	)		1.1		416.0

*	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.

*	Unrealized Gains/Losses include ¥20.4 billion and ¥27.4 billion, which were recognized in the statement of income (aggregate figures for the 2 banks) for June 30, 2022 and March 31, 2022 respectively, by applying the fair-value hedge accounting.

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 June 30, 2022 and March 31, 2022 are ¥260.5 billion and ¥126.2 billion, respectively.

2-5

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity


	*(Billions of yen)*
	As of June 30, 2022									As of March 31, 2022
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value					Gains		Losses
MHBK		1,811.0		(106.0	)		4.6		110.7		1,517.5		(52.0	)		5.3		57.3
MHTB		—		—			—		—		—		—			—		—
Total		1,811.0		(106.0	)		4.6		110.7		1,517.5		(52.0	)		5.3		57.3
(3) Investments in Subsidiaries and Affiliates
	*(Billions of yen)*
	As of June 30, 2022									As of March 31, 2022
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value					Gains		Losses
MHBK		108.9		313.8			314.2		0.4		108.9		311.9			312.3		0.3
MHTB		—		—			—		—		—		—			—		—
Total		108.9		313.8			314.2		0.4		108.9		311.9			312.3		0.3

(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. 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


	*(Billions of yen)*
	As of June 30, 2022						As of March 31, 2022
	Unrealized Gains/Losses						Unrealized Gains/ Losses
				Change			Unrealized Gains/ Losses
Other Securities		510.8			(451.8	)		962.7
Japanese Stocks		1,392.5			(79.9	)		1,472.4
Japanese Bonds		(57.9	)		(5.7	)		(52.1	)
Japanese Government Bonds		*(34.1*	)		(3.6	)		(30.5	)
Other		(823.7	)		(366.1	)		(457.5	)
Foreign Bonds		*(709.2*	)		(294.9	)		(414.2	)
Non-Consolidated
Aggregate Figures for the 2 Banks

	*(Billions of yen)*
	As of June 30, 2022						As of March 31, 2022
	Unrealized Gains/Losses						Unrealized Gains/ Losses
				Change			Unrealized Gains/ Losses
Other Securities		446.5			(445.9	)		892.4
Japanese Stocks		1,329.4			(75.3	)		1,404.8
Japanese Bonds		(57.9	)		(5.7	)		(52.1	)
Japanese Government Bonds		*(34.1*	)		(3.6	)		(30.5	)
Other		(824.9	)		(364.7	)		(460.1	)
Foreign Bonds		*(709.3*	)		(294.5	)		(414.8	)

2-6

Mizuho Financial Group, Inc.

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

Non-Consolidated

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of June 30, 2022						As of March 31, 2022
	Deferred Hedge Gains/Losses						Deferred Hedge Gains/Losses
	Gains		Losses				Gains		Losses
MHBK		1,734.6		1,896.8	(162.1	)		1,320.4		1,435.8	(115.3	)
MHTB		21.0		15.1	5.8			15.5		15.9	(0.3	)
Total		1,755.6		1,911.9	(156.2	)		1,336.0		1,451.7	(115.7	)

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

2-7

Mizuho Financial Group, Inc.

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

Consolidated


	*(Billions of yen)*
	As of June 30, 2022					As of March 31, 2022
			Change			As of March 31, 2022
Claims against Bankrupt and Substantially Bankrupt Obligors		93.4		42.5			50.8
Claims with Collection Risk		353.4		(368.7	)		722.2
Claims for Special Attention		364.9		10.8			354.0
Loans Past Due for 3 Months or More		19.2		16.7			2.4
Restructured Loans		345.6		(5.8	)		351.5
Sub-total[1]		811.7		(315.3	)		1,127.1
Normal Claims		102,655.8		6,430.9			96,224.9
Total[2]		103,467.6		6,115.6			97,352.0
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		468.2		359.3			108.8

	*(%)*
NPL ratio[1]/[2]		0.78		(0.37	)		1.15
Trust Account
	*(Billions of yen)*
	As of June 30, 2022					As of March 31, 2022
			Change			As of March 31, 2022
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		3.5		(0.2	)		3.8
Total[4]		3.5		(0.2	)		3.8

	*(%)*
NPL ratio[3]/[4]		—		—			—

2-8

Mizuho Financial Group, Inc.

Consolidated + Trust Account


	*(Billions of yen)*
	As of June 30, 2022					As of March 31, 2022
			Change			As of March 31, 2022
Claims against Bankrupt and Substantially Bankrupt Obligors		93.4		42.5			50.8
Claims with Collection Risk		353.4		(368.7	)		722.2
Claims for Special Attention		364.9		10.8			354.0
Loans Past Due for 3 Months or More		19.2		16.7			2.4
Restructured Loans		345.6		(5.8	)		351.5
Sub-total[5]		811.7		(315.3	)		1,127.1
Normal Claims		102,659.4		6,430.7			96,228.7
Total[6]		103,471.2		6,115.3			97,355.8
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		468.2		359.3			108.8

	*(%)*
NPL ratio[5]/[6]		0.78		(0.37	)		1.15

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

2-9

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)


	*(Billions of yen)*
	As of June 30, 2022					As of March 31, 2022
			Change			As of March 31, 2022
Claims against Bankrupt and Substantially Bankrupt Obligors		88.8		47.7			41.1
Claims with Collection Risk		355.0		(370.9	)		726.0
Claims for Special Attention		333.2		14.7			318.5
Loans Past Due for 3 Months or More		19.8		17.3			2.4
Restructured Loans		313.4		(2.6	)		316.0
Sub-total[1]		777.1		(308.5	)		1,085.6
Normal Claims		104,329.0		6,395.5			97,933.5
Total[2]		105,106.2		6,087.0			99,019.2
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		464.5		359.1			105.4

	*(%)*
NPL ratio[1]/[2]		0.73		(0.35	)		1.09
Mizuho Bank
	*(Billions of yen)*
Claims against Bankrupt and Substantially Bankrupt Obligors		88.5		47.8			40.7
Claims with Collection Risk		344.2		(370.5	)		714.8
Claims for Special Attention		331.2		14.2			316.9
Loans Past Due for 3 Months or More		19.8		17.4			2.4
Restructured Loans		311.3		(3.1	)		314.5
Sub-total[3]		764.0		(308.4	)		1,072.5
Normal Claims		101,154.4		6,419.4			94,734.9
Total[4]		101,918.4		6,111.0			95,807.4
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		464.3		359.1			105.2

	*(%)*
NPL ratio[3]/[4]		0.74		(0.36	)		1.11

2-10

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)


	*(Billions of yen)*
Claims against Bankrupt and Substantially Bankrupt Obligors		0.2	(0.1	)	0.3
Claims with Collection Risk		10.8	(0.3	)	11.2
Claims for Special Attention		2.0	0.4		1.5
Loans Past Due for 3 Months or More		0.0	(0.0	)	0.0
Restructured Loans		2.0	0.4		1.5
Sub-total[5]		13.0	(0.0	)	13.1
Normal Claims		3,171.0	(23.7	)	3,194.8
Total[6]		3,184.1	(23.7	)	3,207.9
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		0.2	(0.0	)	0.2

	*(%)*
NPL ratio[5]/[6]		0.41	0.00		0.40
(Trust Account)
	*(Billions 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		3.5	(0.2	)	3.8
Total[8]		3.5	(0.2	)	3.8

	*(%)*
NPL ratio[7]/[8]		—	—		—

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

2-11

Mizuho Financial Group, Inc.

6. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of June 30, 2022					As of March 31, 2022
			Change			As of March 31, 2022
MHBK		131,981.3		(1,652.4	)		133,633.8
MHTB		2,613.9		42.6			2,571.3
Total		134,595.3		(1,609.8	)		136,205.2

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks

(Billions of yen)

As of
June 30, 2022

As of
March 31, 2022

Change

MHBK

104,985.3

(4,974.7

)

109,960.1

Individual deposits

47,531.0

667.5

46,863.5

MHTB

2,613.9

42.6

2,571.3

Individual deposits

801.6

(2.3

)

803.9

Total

107,599.3

(4,932.1

)

112,531.4

Individual deposits

48,332.6

665.1

47,667.5

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

(2) Loans and Bills Discounted

Aggregate Figures for the 2 Banks

(Billions of yen)

As of
June 30, 2022

As of
March 31, 2022

Change

MHBK

86,820.5

3,858.1

82,962.4

MHTB

3,166.9

(25.4

)

3,192.3

Total

89,987.5

3,832.6

86,154.8

Note: Loans to MHFG are included as follows:

As of June 30, 2022: ¥675.0 billion (from MHBK)

As of March 31, 2022: ¥755.0 billion (from MHBK)

2-12

Mizuho Financial Group, Inc.

(3) Interest Margins (Domestic Operations)

Mizuho Bank


		*(%)*
		First Quarter of Fiscal 2022 (For the three months)	Change	First Quarter of Fiscal 2021 (For the three months)
			Change
Return on Loans and Bills Discounted	1	0.73	(0.00)	0.74
Cost of Deposits	2	0.00	(0.00)	0.00
Loan and Deposit Rate Margin [1]-[2]	3	0.73	(0.00)	0.74
Notes: 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	4	0.75	(0.01)	0.76
Loan and Deposit Rate Margin [4]-[2]	5	0.74	(0.01)	0.76

Mizuho Trust & Banking
		*(%)*
		First Quarter of Fiscal 2022 (For the three months)	Change	First Quarter of Fiscal 2021 (For the three months)
			Change
Return on Loans and Bills Discounted	6	0.60	0.02	0.58
Cost of Deposits	7	0.00	(0.00)	0.01
Loan and Deposit Rate Margin [6]-[7]	8	0.59	0.02	0.57
Notes: 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	9	0.60	0.00	0.60
Loan and Deposit Rate Margin [9]-[7]	10	0.59	0.00	0.59
(Reference)
Aggregate Figures for the 2 Banks
		*(%)*
		First Quarter of Fiscal 2022 (For the three months)	Change	First Quarter of Fiscal 2021 (For the three months)
Return on Loans and Bills Discounted	11	0.73	(0.00)	0.73
Cost of Deposits	12	0.00	(0.00)	0.00
Loan and Deposit Rate Margin [11]-[12]	13	0.72	(0.00)	0.73
Notes: 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	14	0.74	(0.01)	0.75
Loan and Deposit Rate Margin [14]-[12]	15	0.74	(0.01)	0.75

2-13

Mizuho Bank, Ltd.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK


	*Millions of yen*
	As of June 30, 2022 (A)			As of March 31, 2022 (B)			Change (A) - (B)
Assets
Cash and Due from Banks	¥	51,354,076		¥	48,803,771		¥	2,550,304
Call Loans		1,022,926			1,223,766			(200,839	)
Receivables under Resale Agreements		1,487,789			1,681,260			(193,470	)
Guarantee Deposits Paid under Securities Borrowing Transactions		163,401			154,255			9,146
Other Debt Purchased		757,001			679,939			77,061
Trading Assets		6,341,922			4,496,695			1,845,226
Money Held in Trust		504			504			0
Securities		43,352,058			44,608,181			(1,256,122	)
Loans and Bills Discounted		86,820,581			82,962,457			3,858,123
Foreign Exchange Assets		3,341,765			2,509,122			832,643
Derivatives other than for Trading		10,205,406			6,133,443			4,071,962
Other Assets		7,454,513			5,958,848			1,495,665
Tangible Fixed Assets		844,108			847,689			(3,581	)
Intangible Fixed Assets		345,883			347,681			(1,798	)
Prepaid Pension Cost		450,153			440,611			9,541
Deferred Tax Assets		446,469			273,129			173,340
Customers’ Liabilities for Acceptances and Guarantees		10,048,253			8,733,646			1,314,607
Reserves for Possible Losses on Loans		(543,235	)		(814,778	)		271,542
Reserve for Possible Losses on Investments		(106	)		(106	)		—

Total Assets	¥	223,893,473		¥	209,040,119		¥	14,853,353

Liabilities
Deposits	¥	131,981,399		¥	133,633,887		¥	(1,652,488	)
Negotiable Certificates of Deposit		20,443,238			16,162,209			4,281,029
Call Money		1,102,230			940,058			162,172
Payables under Repurchase Agreements		13,407,945			9,293,236			4,114,709
Guarantee Deposits Received under Securities Lending Transactions		393,325			146,864			246,460
Commercial Paper		1,448,280			1,775,859			(327,579	)
Trading Liabilities		5,050,578			3,447,533			1,603,045
Borrowed Money		14,791,930			14,397,626			394,304
Foreign Exchange Liabilities		867,926			1,788,299			(920,373	)
Bonds and Notes		828,815			810,504			18,310
Derivatives other than for Trading		11,173,855			6,635,032			4,538,822
Other Liabilities		5,812,992			4,302,633			1,510,359
Reserve for Bonus Payments		198			24,582			(24,383	)
Reserve for Variable Compensation		730			763			(32	)
Reserve for Possible Losses on Sales of Loans		2,967			1,309			1,658
Reserve for Contingencies		1,206			1,306			(100	)
Reserve for Reimbursement of Deposits		15,685			16,627			(942	)
Reserve for Reimbursement of Debentures		9,771			10,504			(732	)
Deferred Tax Liabilities for Revaluation Reserve for Land		59,874			59,962			(87	)
Acceptances and Guarantees		10,048,253			8,733,646			1,314,607

Total Liabilities		217,441,204			202,182,447			15,258,757

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		2,459,465			2,519,294			(59,828	)
Appropriated Reserve		421,264			389,012			32,251
Other Retained Earnings		2,038,201			2,130,281			(92,079	)
Retained Earnings Brought Forward		2,038,201			2,130,281			(92,079	)

Total Shareholders’ Equity		6,122,923			6,182,751			(59,828	)

Net Unrealized Gains (Losses) on Other Securities, net of Taxes		310,449			623,367			(312,917	)
Net Deferred Hedge Gains (Losses), net of Taxes		(113,062	)		(80,603	)		(32,458	)
Revaluation Reserve for Land, net of Taxes		131,957			132,156			(199	)

Total Valuation and Translation Adjustments		329,344			674,920			(345,575	)

Total Net Assets		6,452,268			6,857,672			(405,404	)

Total Liabilities and Net Assets	¥	223,893,473		¥	209,040,119		¥	14,853,353

2-14

Mizuho Bank, Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME (selected items)

OF MIZUHO BANK


	*Millions of yen*
	For the three months ended June 30, 2022 (A)			For the three months ended June 30, 2021 (B)		Change (A) - (B)
Ordinary Income	¥	664,278		¥	474,024	¥	190,254
Interest Income		377,748			251,099		126,648
Interest on Loans and Bills Discounted		*247,729*			186,171		61,557
Interest and Dividends on Securities		*75,693*			42,362		33,331
Fee and Commission Income		128,769			116,576		12,192
Trading Income		44			29,836		(29,791	)
Other Operating Income		127,636			18,443		109,193
Other Ordinary Income		30,079			58,068		(27,988	)

Ordinary Expenses		528,733			333,416		195,317
Interest Expenses		144,855			57,657		87,197
Interest on Deposits		*48,358*			8,512		39,845
Fee and Commission Expenses		44,811			35,046		9,765
Trading Expenses		58,382			139		58,242
Other Operating Expenses		9,442			11,951		(2,509	)
General and Administrative Expenses		185,033			184,458		574
Other Ordinary Expenses		86,209			44,161		42,047

Ordinary Profits		135,544			140,608		(5,063	)

Extraordinary Gains		3,505			27,341		(23,836	)

Extraordinary Losses		365			1,239		(873	)

Income before Income Taxes		138,684			166,710		(28,025	)
Income Taxes:
Current		58,942			38,669		20,272
Deferred		(21,487	)		34,369		(55,856	)

Net Income	¥	101,229		¥	93,671	¥	7,558

2-15

Mizuho Trust & Banking Co., Ltd.

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO TRUST & BANKING


	*Millions of yen*
	As of June 30, 2022 (A)			As of March 31, 2022 (B)			Change (A) - (B)
Assets
Cash and Due from Banks	¥	1,705,052		¥	1,923,672		¥	(218,620	)
Guarantee Deposits Paid under Securities Borrowing Transactions		150,100			20,046			130,054
Other Debt Purchased		37,153			35,314			1,838
Money Held in Trust		26,898			26,556			341
Securities		288,680			288,530			149
Loans and Bills Discounted		3,166,920			3,192,348			(25,427	)
Foreign Exchange Assets		4,486			3,898			588
Other Assets		216,006			255,755			(39,748	)
Tangible Fixed Assets		99,545			100,132			(586	)
Intangible Fixed Assets		20,992			21,728			(735	)
Prepaid Pension Cost		68,457			66,607			1,849
Customers’ Liabilities for Acceptances and Guarantees		15,508			14,100			1,407
Reserves for Possible Losses on Loans		(2,372	)		(2,470	)		97

Total Assets	¥	5,797,431		¥	5,946,221		¥	(148,789	)

Liabilities
Deposits	¥	2,613,958		¥	2,571,352		¥	42,606
Negotiable Certificates of Deposit		770,780			691,880			78,900
Call Money		408,277			603,990			(195,712	)
Borrowed Money		300,000			300,000			—
Due to Trust Accounts		1,120,207			1,167,284			(47,077	)
Other Liabilities		43,147			31,317			11,829
Reserve for Bonus Payments		9			2,741			(2,731	)
Reserve for Variable Compensation		276			272			4
Provision for Retirement Benefits		4,424			4,935			(511	)
Reserve for Reimbursement of Deposits		892			992			(99	)
Reserve for Loss of Transfer		—			3,061			(3,061	)
Deferred Tax Liabilities		21,248			17,484			3,763
Acceptances and Guarantees		15,508			14,100			1,407

Total Liabilities		5,298,730			5,409,413			(110,683	)

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		254,338			296,471			(42,132	)
Appropriated Reserve		159,891			150,297			9,593
Other Retained Earnings		94,447			146,174			(51,726	)
Retained Earnings Brought Forward		94,447			146,174			(51,726	)
Treasury Stock		(79,999	)		(79,999	)		—

Total Shareholders’ Equity		437,213			479,346			(42,132	)

Net Unrealized Gains (Losses) on Other Securities, net of Taxes		57,404			57,707			(303	)
Net Deferred Hedge Gains (Losses), net of Taxes		4,082			(246	)		4,329

Total Valuation and Translation Adjustments		61,487			57,460			4,026

Total Net Assets		498,700			536,807			(38,106	)

Total Liabilities and Net Assets	¥	5,797,431		¥	5,946,221		¥	(148,789	)

2-16

Mizuho Trust & Banking Co., Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME (selected items)

OF MIZUHO TRUST & BANKING


	*Millions of yen*
	For the three months ended June 30, 2022 (A)			For the three months ended June 30, 2021 (B)		Change (A) - (B)
Ordinary Income	¥	36,185		¥	39,486	¥	(3,300	)
Fiduciary Income		14,412			15,106		(693	)
Interest Income		6,319			6,207		112
Interest on Loans and Bills Discounted		*4,970*			4,968		1
Interest and Dividends on Securities		*886*			782		103
Fee and Commission Income		14,565			17,092		(2,526	)
Trading Income		—			241		(241	)
Other Operating Income		25			98		(73	)
Other Ordinary Income		862			740		122

Ordinary Expenses		31,368			31,345		22
Interest Expenses		1,754			1,772		(18	)
Interest on Deposits		60			85		(24	)
Fee and Commission Expenses		9,786			9,152		634
Trading Expenses		—			—		—
Other Operating Expenses		2			0		2
General and Administrative Expenses		19,203			19,512		(308	)
Other Ordinary Expenses		621			908		(287	)

Ordinary Profits		4,817			8,140		(3,323	)

Extraordinary Gains		3,366			1,599		1,766

Extraordinary Losses		49			14		35

Income before Income Taxes		8,134			9,726		(1,592	)
Income Taxes:
Current		(71	)		630		(702	)
Deferred		2,370			2,240		129

Net Income	¥	5,835		¥	6,855	¥	(1,019	)

2-17

Mizuho Securities Co., Ltd.

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES


	*Millions of yen*
	As of June 30, 2022 (A)			As of March 31, 2022 (B)			Change (A) - (B)
Assets
Current Assets
Cash and Bank Deposits	¥	401,775		¥	405,261		¥	(3,485	)
Cash Segregated as Deposits for Customers and Others		531,098			541,274			(10,175	)
Trading Assets		8,717,193			6,921,502			1,795,690
Receivables - Unsettled Trades		193,080			145,887			47,193
Operating Investment Securities		46,279			40,926			5,352
Receivables Related to Margin Transactions		28,112			34,802			(6,690	)
Collateralized Short-Term Financing Agreements-Receivable		4,922,783			4,707,548			215,234
Advances Paid		258			94			163
Securities: Fail to Deliver		29,548			32,415			(2,866	)
Short-Term Loans Receivable		48,625			47,983			642
Other Current Assets		835,233			700,334			134,899
Less: Allowance for Doubtful Accounts		(86	)		(79	)		(7	)
Noncurrent Assets
Property and Equipment		18,358			18,742			(384	)
Intangible Assets		67,351			68,497			(1,145	)
Investments and Other Assets		312,246			304,034			8,212

Total Assets	¥	16,151,859		¥	13,969,227		¥	2,182,632

Liabilities
Current Liabilities
Trading Liabilities	¥	7,770,408		¥	5,356,537		¥	2,413,870
Payables Related to Margin Transactions		48,773			50,556			(1,782	)
Collateralized Short-Term Financing Agreements-Payable		3,859,120			4,144,682			(285,561	)
Deposits Received		457,147			425,452			31,694
Guarantee Deposits Received		299,013			425,613			(126,600	)
Securities: Fail to Receive		2,296			7,083			(4,786	)
Short-Term Borrowings		1,093,713			904,079			189,634
Commercial Paper		480,000			490,500			(10,500	)
Bonds and Notes Due within One Year		180,961			148,768			32,193
Income Taxes Payable		1,706			2,515			(809	)
Accrued Employees’ Bonuses		4,215			25,379			(21,164	)
Provision for Variable Compensation		511			411			100
Other Current Liabilities		34,442			46,970			(12,527	)
Noncurrent Liabilities
Bonds and Notes		761,519			753,870			7,649
Long-Term Borrowings		593,400			580,000			13,400
Provision for Retirement Benefits		21,642			22,579			(936	)
Reserve for Loss of Transfer		1,159			1,541			(382	)
Other Noncurrent Liabilities		4,125			3,769			356
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities		3,131			3,132			(1	)

Total Liabilities		15,617,287			13,393,441			2,223,846

Net Assets
Common Stock		125,167			125,167			—
Capital Surplus		381,649			381,649			—
Additional Paid - in Capital		285,831			285,831			—
Other Capital Surplus		95,817			95,817			—
Retained Earnings		386,873			425,554			(38,680	)
Other Retained Earnings		386,873			425,554			(38,680	)
Retained Earnings Brought Forward		386,873			425,554			(38,680	)
Treasury Stock		(369,999	)		(369,999	)		—

Total Shareholders’ Equity		523,690			562,371			(38,680	)

Net Unrealized Gains on (Operating) Investment Securities, net of Tax		20,601			23,193			(2,591	)
Net Deferred Gains or Losses on Hedges, net of Tax		(9,720	)		(9,778	)		57

Total Valuation and Translation Adjustments		10,881			13,415			(2,533	)

Total Net Assets		534,571			575,786			(41,214	)

Total Liabilities and Net Assets	¥	16,151,859		¥	13,969,227		¥	2,182,632

2-18

Mizuho Securities Co., Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME (selected items)

OF MIZUHO SECURITIES


	*Millions of yen*
	For the three months ended June 30, 2022 (A)			For the three months ended June 30, 2021 (B)			Change (A) - (B)
Operating Revenues	¥	81,977		¥	92,363		¥	(10,386	)
Commissions		32,563			46,903			(14,340	)
Net Gain on Trading		26,704			31,969			(5,264	)
Net Gain on Operating Investment Securities		431			22			409
Interest and Dividend Income		22,278			13,468			8,809

Interest Expenses		18,521			8,981			9,540

Net Operating Revenues		63,455			83,382			(19,926	)

Selling, General and Administrative Expenses		55,118			62,203			(7,084	)
Transaction-Related Expenses		14,359			17,702			(3,343	)
Personnel Expenses		19,492			23,157			(3,664	)
Real Estate Expenses		5,633			5,126			506
Administrative Expenses		10,106			9,460			646
Depreciation and Amortization		3,350			4,781			(1,431	)
Taxes and Dues		1,418			1,278			139
Provision of Allowance for Doubtful Accounts		78			(15	)		93
Other		679			711			(32	)

Operating Income		8,337			21,179			(12,842	)

Non-Operating Income		864			1,271			(407	)
Non-Operating Expenses		35			3			31

Ordinary Income		9,165			22,447			(13,281	)

Extraordinary Gain		61			30			31

Extraordinary Loss		2,275			972			1,303

Income before Income Taxes		6,952			21,505			(14,552	)
Income Taxes:
Current		(2,125	)		423			(2,548	)
Deferred		(7,225	)		3,999			(11,225	)

Net Income	¥	16,302		¥	17,081		¥	(779	)

2-19