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 August 2022
Commission File Number 001-33098
Mizuho Financial Group, Inc.
(Translation of registrants 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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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: | August 12, 2022 | |
Mizuho Financial Group, Inc. | ||
By: | /s/ Makoto Umemiya | |
Name: | Makoto Umemiya | |
Title: | Deputy President & Senior Executive Officer / Group CFO |
UNAUDITED QUARTERLY CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS
AS OF AND FOR THE THREE MONTHS ENDED JUNE 30, 2022
On August 12, 2022, we published our unaudited quarterly consolidated financial statements as of and for the three months ended June 30, 2022 prepared in accordance with Japanese GAAP as part of our quarterly securities report (shihanki hokokusho) for the same period filed by us with the relevant Japanese authorities. We have included in this report on Form 6-K an English translation of the unaudited quarterly consolidated financial statements and the notes thereto included in such quarterly securities report. Japanese GAAP differs in certain respects from U.S. GAAP. For a description of certain differences between U.S. GAAP and Japanese GAAP, see Item 5. Operating and Financial Review and ProspectsReconciliation with Japanese GAAP in our most recent annual report on Form 20-F filed with the U.S. Securities Exchange Commission.
- 1 -
Financial Information
1. | The quarterly consolidated financial statements of Mizuho Financial Group, Inc. (MHFG) are prepared in accordance with the Ordinance on the Terminology, Forms, and Preparation Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance No. 64 of 2007). The classification of assets and liabilities and that of income and expenses are in accordance with the Ordinance for Enforcement of the Banking Act (Ordinance of the Ministry of Finance No. 10 of 1982). |
2. | Ernst & Young ShinNihon LLC conducted a quarterly review on the quarterly consolidated financial statements of MHFG for the three months ended June 30, 2022, pursuant to Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act. |
- 2 -
I. | Quarterly Consolidated Financial Statements |
(1) Quarterly Consolidated Balance Sheet
(Millions of yen) |
||||||||||||
As of |
As of |
|||||||||||
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 |
*1, *2 | 44,641,060 | *1, *2 | 43,386,299 | ||||||||
Loans and Bills Discounted |
*1 | 84,736,280 | *1 | 88,851,747 | ||||||||
Foreign Exchange Assets |
*1 | 2,627,492 | *1 | 3,461,306 | ||||||||
Derivatives other than for Trading Assets |
2,277,160 | 3,553,686 | ||||||||||
Other Assets |
*1 | 7,797,796 | *1 | 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 |
*1 | 8,346,878 | *1 | 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 | ||||||||||
|
|
- 3 -
(Millions of yen) |
||||||||||||
As of |
As of |
|||||||||||
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 and Preferred 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 | ||||||||||
|
|
- 4 -
(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income
Quarterly Consolidated Statement 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 |
*1 | 73,458 | *1 | 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 |
*2 | 46,521 | *2 | 77,337 | ||||||||
|
|
|||||||||||
Ordinary Profits |
218,757 | 204,237 | ||||||||||
|
|
|||||||||||
Extraordinary Gains |
*3 | 28,954 | *3 | 3,580 | ||||||||
Extraordinary Losses |
*4 | 1,530 | *4 | 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 | ||||||||||
|
|
- 5 -
(Millions of yen) For the three months ended June 30, 2021 For the three months ended June 30, 2022 Profit Other Comprehensive Income Net Unrealized Gains (Losses) on Other Securities Deferred Gains or Losses on Hedges Foreign Currency Translation Adjustments Remeasurements of Defined Benefit Plans Own Credit Risk Adjustments, Net of Tax Share of Other Comprehensive Income of Associates Accounted for Using Equity Method Comprehensive Income (Breakdown) Comprehensive Income Attributable to Owners of Parent Comprehensive Income Attributable to Non-controlling
Interests - 6 -
Notes to Quarterly Consolidated Financial Statements 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. Additional Information The Board Benefit Trust (BBT) Program Since
MHFG operates its business to contribute to the creation of value for diverse stakeholders and realize improved corporate value through the continuous and stable growth of MHFG group pursuant to MHFGs basic management policy defined under the
Mizuho Financial Groups Corporate Identity, MHFG has introduced a stock compensation program using a trust (the Program) that functions as an incentive for each Director, Group Executive Officer, and Operating officers to exert
maximum effort in performing his or her duties, and also as consideration for such exertion of effort. Outline of the Program The Program has adopted the Board Benefit Trust (BBT) framework. MHFGs shares on the stock market will be acquired through a
trust established based on the underlying funds contributed by MHFG, and MHFGs shares will be distributed to Directors, Executive Officers, and Operating officers of MHFG, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and
Mizuho Securities Co., Ltd. (the Company Group) and other entities in accordance with the Rules on Distribution of Shares to be prescribed in advance. The framework consists of the stock compensation program based on the Company Group
Officers responsibilities and others in their respective company (Stock Compensation I), the stock compensation program based on the performance evaluation of the Company Group (Stock Compensation II) and the stock
compensation program based on Company Group Officers responsibilities in their respective company and the performance evaluation of the Company Group, which distributes MHFGs shares to Operating officers of MHFG and certain consolidated
subsidiaries (Stock Benefit). Stock Compensation I will be paid at the time of retirement in the form of shares of MHFG
calculated based on their responsibilities and others. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual. Stock Compensation II will be paid in the form of shares of MHFG and will be deferred over three years, which is calculated based on the status
of achieving our Five-Year Business Plan. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual. Stock Benefit will be paid in the collective form of MHFGs share, which is based on responsibilities in their respective company and the
performance evaluation of the Company Group. Reduction and forfeit of the benefit can occur in the program. Upon the payment of stock
compensation under the Program, MHFG may, for a certain portion, pay a monetary amount equivalent to the market value of its stock in lieu of stock compensation in accordance with the Rules on Distribution of Shares. Voting rights related to MHFGs shares belonging to the trust assets under the trust shall not be exercised. - 7 -
MHFGs Shares Outstanding in the Trust MHFGs shares outstanding in the trust are recognized as Treasury Stock under Net Assets at the carrying amount (excluding the amount of
incidental expenses) in the trust. The carrying amount of such Treasury Stock as of June 30, 2022 was ¥5,939 million for 3,737 thousand shares (the carrying amount as of March 31, 2022 was ¥4,949 million for
3,079 thousand shares). Reserves for Possible Losses on Loans In light of the principles set forth in the report entitled Japanese Financial Services Agency (JFSA)s supervisory approaches to
lending business and loan loss provisioning published by JFSA in December 18, 2019, we have reflected the potential impact of the COVID-19, the Russia-Ukraine situation and others on Reserves for
Possible Losses on Loans for some credit. More specifically, we used the assumptions based on the forecasted GDP growth rate, financial variables including resource prices, exchange rates, and others, the future prospect of business environment of
each industry, the impact of economic sanctions inside and outside of Russia, and the Russia-Ukraine situation and others in addition to the spread of COVID-19. Expected losses affected by these impacts in the
future are recognized as Reserves for Possible Losses on Loans. There are no material changes in the methods of the above accounting estimates and the major assumptions used in the consolidated financial statements from those of the previous fiscal
year. In addition, expected losses which are assumed may occur in the future due to difficulties in foreign currency cash management influenced by
economic sanctions against Russia, in claims for which transfer risk has not been avoided, are recognized as Reserve for Possible Losses on Loans to Restructuring Countries. The expected losses are calculated based on evaluation of Russian country risk and past defaults which are announced by external rating firms and others. The
amount of Reserve for Possible Losses on Loans to Restructuring Countries for the three months ended June 30, 2022 is ¥57,474 million, which includes ¥55,845 million against the claims related to Russia. Application of Treatment of Accounting and Disclosure for Applying the Japanese Group Relief System MHFG and some domestic consolidated subsidiaries of the Group have translated the Consolidated Tax System into the Japanese Group Relief System from the first
quarter ended June 30, 2022. In accordance with this, accounting and disclosure of corporate tax, local corporate tax and tax-effect accounting are in compliance with Treatment of accounting and
disclosure for applying the Japanese Group Relief System (Practical Solutions No. 42, August 12, 2021 (Practical Solutions No.42)). In addition, based on Practical Solutions No. 42, Paragraph 32 (1), MHFG regards that
there is no impact from the changes in accounting policies associated with the effects of the application of Practical Solutions No.42. - 8 -
Notes to Quarterly Consolidated Balance Sheet Claims based on Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions are
as follows. The claims consist of those included in the accounts of bonds included in Securities (its principals redemption and interest payments are guaranteed, in whole or in part, and the corporate bonds issue is limited to a
private placement of the securities (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)), Loans, Foreign Exchanges Assets, accrued interest and suspense payment in Other Assets and
Customers Liabilities for Acceptances and Guarantees in the consolidated balance sheet, and securities in the notes (limited to those under a loan for use or lease agreement) that are in case of loan. 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 Normal Claims Total The amounts given in the above table are gross amounts before deduction of amounts for the Reserves for
Possible Losses on Loans. Amounts of liabilities for guarantees on corporate bonds included in Securities, which were issued by private
placement (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)
- 9 -
Notes to Quarterly Consolidated Statement of Income Other Ordinary Income includes the following: Gains on Sales of Stocks Other Ordinary Expenses includes the following: Losses on Write-offs of Loans Extraordinary Gains includes the following: Gains on Cancellation of Employee Retirement Benefit Trust Extraordinary Losses is as follows: Losses on Disposition of Fixed Assets Losses on Impairment of Fixed Assets - 10 -
Notes to Quarterly Consolidated Statement of Cash Flows We have not prepared Consolidated Statement of Cash Flows for the three months ended June 30, 2022. Depreciation (including Amortization
of Intangible Fixed Assets excluding Goodwill) and Amortization of Goodwill for the three months ended June 30, 2021 and 2022 are as follows: Depreciation Amortization of Goodwill Changes in Net Assets For the three months ended June 30, 2021 Cash dividends paid Resolution Type May 14, 2021 The Board of Directors Earnings For the three months ended June 30, 2022 Cash dividends paid Resolution Type May 13, 2022 The Board of Directors Earnings - 11 -
Business Segment Information, etc. Business Segment Information Summary of reportable segment MHFG has introduced an in-house company system based on the groups diverse customer segments. The
aim of this system is to leverage MHFGs strengths and competitive advantage, which is the seamless integration of MHFGs 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 Groups operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices. - 12 -
Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs
and others, and 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 by reportable segment
For the three months ended June 30, 2021 - 13 -
For the three months ended June 30, 2022 - 14 -
The difference between the total amounts of 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 of reportable segments and the recorded amounts in the Quarterly Consolidated Statement of Income, and
the contents of the difference (Matters relating to adjustment to difference) The above total amounts of 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 derived from internal management reporting are
different from Income before income taxes recorded in the Quarterly Consolidated Statement of Income. The contents of the difference for
the three months ended June 30, 2021 and 2022, are as follows: 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 Credit Costs for Trust Accounts General and Administrative Expenses (non-recurring
losses) Expenses related to Portfolio Problems (including reversal of (provision for) general reserve for
losses on loans) Gains on Reversal of Reserves for Possible Losses on Loans, and others Net Gains (Losses) related to StocksNet Gains (Losses) related to ETFs and others Net Extraordinary Gains (Losses) Others Income before Income Taxes recorded in Quarterly Consolidated Statement of Income - 15 -
Financial Instruments There are no significant changes to be noted compared with the amount of the fiscal year ended March 31, 2022. Securities There are no significant changes to be noted
compared with the amount of the fiscal year ended March 31, 2022. Money Held in Trust There are no significant changes to be noted compared with the amount of the fiscal year ended March 31, 2022. - 16 -
Derivatives Information The classification, type, contract value, fair value and unrealized gains (losses) which are material for the operation of corporate group and have changed
significantly in comparison to the end of fiscal year ended March 31, 2022 are as follows; Interest Rate and Transactions As of March 31, 2022 (Millions of yen) Classification Type Listed Interest Rate Futures Over-the-Counter Interest Rate Swaps Inter-Company or Internal Transactions Interest Rate Swaps Total As of June 30, 2022 (Millions of yen) Classification Type Listed Interest Rate Futures Over-the-Counter Interest Rate Swaps Inter-Company or Internal Transactions Interest Rate Swaps Total - 17 -
Currency-Related Transactions As of March 31, 2022 (Millions of yen) Classification Type Over-the-Counter Swaps Forwards Inter-Company or Internal Transactions Swaps Forwards Total Transactions qualifying for hedge accounting under Accounting
and Auditing Treatment Relating to Adoption of Accounting Standards for Foreign Currency Transactions for Banks (JICPA Industry Committee Practical Guideline No. 25, October 8, 2020) and others. Transactions which are specified for certain financial assets and
liabilities denominated in foreign currencies and reflected on the consolidated balance sheet. Transactions denominated in foreign currencies which are eliminated
in consolidation. As of June 30, 2022 (Millions of yen) Classification Type Over-the-Counter Swaps Forwards Inter-Company or Internal Transactions Swaps Forwards Total Transactions qualifying for hedge accounting under Accounting
and Auditing Treatment Relating to Adoption of Accounting Standards for Foreign Currency Transactions for Banks (JICPA Industry Committee Practical Guideline No. 25, October 8, 2020) and others. Transactions which are specified for certain financial assets and
liabilities denominated in foreign currencies and reflected on the quarterly consolidated balance sheet. Transactions denominated in foreign currencies which are eliminated
in consolidation. - 18 -
Stock-Related Transactions As of March 31, 2022 (Millions of yen) Classification Type Over-the-Counter Equity Linked Swaps Total As of June 30, 2022 (Millions of yen) Classification Type Over-the-Counter Equity Linked Swaps Total - 19 -
Revenue recognition Ordinary Income Fee and Commission Income Deposits and Lending business (1) Securities-related business Remittance business Trust-related business Guarantee-related business (2) Agency business Fees for other customer services Fiduciary Income Other Ordinary Income (1) Notes: Part of these amounts are considered to be revenues from contracts that are within the scope of
Accounting Standard for Revenue Recognition. These amounts are revenues from contracts that do not meet the scope of Accounting Standard for Revenue
Recognition. In the above table, revenues that are within the scope of Accounting Standard for Revenue
Recognition are mainly generated from Retail & Business Banking Company, Corporate & Institutional Company and Global Corporate Company. - 20 -
Per Share Information Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock are based on the following information: (1) Net Income per Share of Common Stock (The basis used for calculating Net Income per Share of Common Stock) Profit Attributable to Owners of Parent Amount not attributable to Common Stock Profit Attributable to Owners of Parent related to Common Stock Average Outstanding Shares of Common Stock (during the period) (2) Diluted Net Income per Share of Common Stock (The basis used for calculating Diluted Net Income per Share of Common Stock) Adjustment to Profit Attributable to Owners of Parent Increased Number of Shares of Common Stock Stock Acquisition Rights 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 and in which significant changes occurred after the end of the previous fiscal year (Note) - 21 -
Subsequent Events (Debt Waiver and Debt Equity Swap to Our Business Partner) Marelli Holdings Co., Ltd. (the Company), a business partner of Mizuho Bank, Ltd., a subsidiary of MHFG, declared the application
for a simplified rehabilitation proceeding to Tokyo District Court. The business reconstruction plan was accepted by the court as of August 9, 2022. In light of this event, additional investment was made by KKR, a shareholder of the Company, and Mizuho Bank, Ltd. waived some of its claims to
the Company and exchanged some of its claims for preferred stocks of the Company as a contribution in kind (DES). (1), (2) and
(3) are described based on the data as of June 30, 2022. (1) Outline of the Company Company Name: Marelli Holdings Co., Ltd. Address: 2-1917 Nisshin-cho,
Kita-ku, Saitama-city, Saitama Representative: Hiroshi Moriya, Representative Director David John Slump, Representative Director Line of Business: Management of auto-parts manufacturing subsidiaries Capital Stock: 100 million yen Date of Foundation: October 6, 2016 (2) Amount and type of claims on the Company and its subsidiaries Loans and other: 404.2 billion yen (3) Amount of Debt Waiver and DES Debt Waiver: 132.6 billion yen DES: 7.8 billion yen (4) Influences on MHFG Group from the Fact In response to the application for a simplified rehabilitation proceeding, we have already applied the necessary accounting treatment in this
first quarter, and there is no additional profit and loss impact in connection with the Debt Waiver and DES mentioned in (3) above. We will review the borrower rating and allowances properly, considering the decision to accept the business reconstruction plan and the
additional investment from KKR. - 22 -
Others At the meeting of the Board of Directors held on May 13, 2022, the year-end cash dividends for the
20th term were resolved as follows: Total amount of year-end cash dividends Year-end cash dividends per share Common Stock Effective date and starting date of dividend payments - 23 -
Quarterly Consolidated Statement of Comprehensive Income
252,887
161,819
(48,156
)
(228,652
)
(53,348
)
(317,031
)
(8,635
)
(27,323
)
38,509
115,854
(32,036
)
(10,934
)
(16
)
7,353
10,800
204,730
(66,832
)
200,559
(70,274
)
4,170
3,442
(1)
(2)
*1.
(Millions of yen)
As of March 31, 2022
As of June 30, 2022
50,846
93,420
722,222
353,444
354,034
364,901
2,498
19,204
351,535
345,697
1,127,104
811,765
96,224,900
102,655,877
97,352,004
103,467,643
*2.
(Millions of yen)
As of March 31, 2022
As of June 30, 2022
1,252,386
1,222,723
*1.
(Millions of yen)
For the three months
ended
June 30, 2021
For the three months
ended
June 30, 2022
49,408
24,659
*2.
(Millions of yen)
For the three months
ended
June 30, 2021
For the three months
ended
June 30, 2022
5,402
50,984
*3.
(Millions of yen)
For the three months
ended
June 30, 2021
For the three months
ended
June 30, 2022
28,656
3,254
*4.
(Millions of yen)
For the three months
ended
June 30, 2021
For the three months
ended
June 30, 2022
1,104
463
425
(Millions of yen)
For the three months
ended
June 30, 2021
For the three months
ended
June 30, 2022
41,760
38,709
932
942
1.
Cash Dividends
(Millions of Yen)
Cash Dividends
per Share
(Yen)
Record Date
Effective Date
Resource of
Dividends
Common Stock
95,201
37.50
March 31, 2021
June 8, 2021
Retained
(Note)
Cash dividends based on the resolution of the Board of Directors held on May 14, 2021 include ¥95 million of cash dividends on treasury stock held by BBT trust account.
1.
Cash Dividends
(Millions of Yen)
Cash Dividends
per Share
(Yen)
Record Date
Effective Date
Resource of
Dividends
Common Stock
101,542
40.00
March 31, 2022
June 6, 2022
Retained
(Note)
Cash dividends based on the resolution of the Board of Directors held on May 13, 2022 include ¥123 million of cash dividends on treasury stock held by BBT trust account.
1.
2.
(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 ¥12,427 million, of which ¥12,444 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.
Following the change in allocation method for transactions between each segment and Others made in April 2022, reclassification was made on the above table to reflect the relevant change.
(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 ¥1,227 million, of which ¥130 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.
(Millions of yen)
For the three months ended
June 30, 2021
For the three months ended
June 30, 2022
206,817
237,392
10,183
10,757
(5,483
)
(67,067
)
8,147
2,209
11,540
19,223
27,423
3,117
(12,449
)
1,722
246,181
207,355
(1)
Contract Value
Fair Value
Unrealized
Gains (Losses)
66,263,358
456
456
1,254,981,648
2
2
12,501,296
81,886
81,886
82,345
82,345
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
2.
Derivative transactions qualifying for hedge accounting under Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Financial Instruments for Banks (JICPA Industry Committee Practical
Guideline No. 24, March 17, 2022) and others are excluded from the above table.
Contract Value
Fair Value
Unrealized
Gains (Losses)
127,935,935
84,274
84,274
1,323,132,975
(108,287
)
(108,287
)
17,754,965
291,876
291,876
267,863
267,863
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
2.
Derivative transactions qualifying for hedge accounting under Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Financial Instruments for Banks (JICPA Industry Committee Practical
Guideline No. 24, March 17, 2022) and others are excluded from the above table.
(2)
Contract Value
Fair Value
Unrealized
Gains (Losses)
84,601,373
74,412
111,140
120,419,130
(80,667
)
(80,667
)
3,792,499
219,192
559
1,526
80
80
213,018
31,112
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
2.
The following transactions are excluded from the above table:
Contract Value
Fair Value
Unrealized
Gains (Losses)
92,563,935
76,695
141,959
140,203,101
(221,185
)
(221,185
)
4,097,509
512,999
(24,216
)
1,868
97
97
368,606
(103,344
)
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
2.
The following transactions are excluded from the above table:
(3)
Contract Value
Fair Value
Unrealized
Gains (Losses)
994,753
80,207
80,207
80,207
80,207
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
2.
Derivative transactions qualifying for hedge accounting are excluded from the above table.
Contract Value
Fair Value
Unrealized
Gains (Losses)
1,006,693
123,315
123,315
123,315
123,315
(Notes)
1.
The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
2.
Derivative transactions qualifying for hedge accounting are excluded from the above table.
(Millions of yen)
For the three months ended
June 30, 2021
For the three months ended
June 30, 2022
737,009
1,235,090
196,859
200,034
53,169
63,524
50,330
41,580
27,328
26,909
17,241
14,797
8,143
10,163
8,095
8,686
32,549
34,371
14,997
14,299
525,152
1,020,757
(1)
(2)
(3)
For the three months ended
June 30, 2021
For the three months ended
June 30, 2022
Yen
98.81
62.85
Millions of yen
250,541
159,294
Millions of yen
Millions of yen
250,541
159,294
Thousands of shares
2,535,338
2,534,214
Yen
98.81
62.85
Millions of yen
Thousands of shares
77
52
Thousands of shares
77
52
In the calculation of Net Income per Share of Common Stock and Diluted Net Income 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 in the calculation of the Average Outstanding Shares of Common Stock during the period. The average number of such Treasury Stock shares deducted during the three months ended June 30, 2021 was
2,499 thousand, and the average number of such Treasury Stock shares deducted during the three months ended June 30, 2022 was 3,289 thousand.
II.
¥101,542 million
¥40
June 6, 2022