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 February 2023

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

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

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

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

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

 

 

 

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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

 

Date:   February 2, 2023
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 Third Quarter of Fiscal 2022

(Nine months ended December 31, 2022)

(Under Japanese GAAP)

    LOGO

 

Company Name:    Mizuho Financial Group, Inc. (“MHFG”)    February 2, 2023

 

Stock Code Number (Japan):   8411       
Stock Exchange Listings:   Tokyo Stock Exchange (Prime Market), New York Stock Exchange    
URL:   https://www.mizuhogroup.com    
Representative:   Masahiro Kihara   

President & Group CEO

    
For Inquiry:   Yasutoshi Tanaka   

General Manager of Accounting

  

Phone:

   +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):    February 14, 2023  

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 Third Quarter of Fiscal 2022 (for the nine months ended December 31, 2022)

(1) Consolidated Results of Operations (Accumulated Period)

 

(%: Changes from the corresponding period of the previous fiscal year)

 

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

3Q F2022

      4,308,147        83.6        658,150        32.2        543,277        13.5  

3Q F2021

      2,345,453        1.3        497,656        10.8        478,656        35.0  

 

Note:  

Comprehensive Income:

3Q F2022: ¥86,714 million, (65.4) %; 3Q F2021: ¥250,949 million, (56.4)%

 

     Net Income
per Share of
Common Stock		      Diluted Net Income
per Share of
Common Stock		  
     ¥      ¥  

3Q F2022

      214.36        214.36  

3Q F2021

      188.82        188.81  

(2) Consolidated Financial Conditions

 

     Total Assets      Total Net Assets      Own Capital Ratio  
     ¥ million      ¥ million      %  

3Q F2022

      251,791,239        9,028,634        3.5  

Fiscal 2021

      237,066,142        9,201,031        3.8  

 

Reference:

   

Own Capital:

As of December 31, 2022: ¥8,952,878 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

      —          42.50        —          

Fiscal 2022 (estimate)

               42.50        85.00  

 

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 previous fiscal year)  
                   Profit
Attributable to
Owners of
Parent		      Net Income
per Share of
Common Stock		  
                   ¥ million      %      ¥  

Fiscal 2022

                                                              540,000        1.7        213.06  

 

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, 2Q and 3Q and the number of outstanding shares as of December 31, 2022 (which is used as a proxy for the average number of outstanding shares during the remainder of the relevant period).

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

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

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

iii. Changes in accounting estimates: No

iv. Restatements: No

Note: For more information, please refer to “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 December 31, 2022   2,539,249,894 shares   As of March 31, 2022    2,539,249,894 shares

ii.  Period-end treasury stock:

   As of December 31, 2022   4,972,755 shares   As of March 31, 2022    4,659,024 shares

iii. Average outstanding shares (accumulated period):

   3Q Fiscal 2022   2,534,327,656 shares   3Q Fiscal 2021    2,534,973,142 shares

This immediate release is outside the scope of quarterly review.

 

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

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

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

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3. D. Key Information-Risk

Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange

Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 28, 2022, both of which are available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

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

 

Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1. 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

øSELECTED FINANCIAL INFORMATION For the Third 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
December 31, 2022		  

Assets

     

Cash and Due from Banks

    ¥ 51,359,301     ¥ 56,839,849  

Call Loans and Bills Purchased

      940,008       1,052,561  

Receivables under Resale Agreements

      12,750,363       14,333,722  

Guarantee Deposits Paid under Securities Borrowing Transactions

      2,340,089       1,770,292  

Other Debt Purchased

      3,476,021       4,041,909  

Trading Assets

      13,221,415       19,809,108  

Money Held in Trust

      591,183       583,626  

Securities

      44,641,060       35,665,864  

Loans and Bills Discounted

      84,736,280       91,230,919  

Foreign Exchange Assets

      2,627,492       2,961,851  

Derivatives other than for Trading Assets

      2,277,160       3,590,376  

Other Assets

      7,797,796       8,486,862  

Tangible Fixed Assets

      1,095,977       1,097,941  

Intangible Fixed Assets

      601,292       598,884  

Net Defined Benefit Asset

      863,217       773,335  

Deferred Tax Assets

      184,594       428,485  

Customers’ Liabilities for Acceptances and Guarantees

      8,346,878       9,231,896  

Reserves for Possible Losses on Loans

      (783,886 )      (706,244 ) 

Reserve for Possible Losses on Investments

      (107 )      (1 ) 
  

 

 

    

 

 

  

Total Assets

    ¥ 237,066,142     ¥ 251,791,239  
  

 

 

    

 

 

  

 

1-3

Mizuho Financial Group, Inc.

 

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

Liabilities

     

Deposits

    ¥ 138,830,872     ¥ 143,491,614  

Negotiable Certificates of Deposit

      16,868,931       18,940,503  

Call Money and Bills Sold

      1,278,050       1,447,299  

Payables under Repurchase Agreements

      20,068,779       22,493,570  

Guarantee Deposits Received under Securities Lending Transactions

      1,172,248       430,910  

Commercial Paper

      1,775,859       2,009,782  

Trading Liabilities

      9,608,976       16,071,186  

Borrowed Money

      6,590,527       2,435,971  

Foreign Exchange Liabilities

      1,508,453       802,717  

Short-term Bonds

      537,167       525,867  

Bonds and Notes

      10,714,004       10,856,934  

Due to Trust Accounts

      1,167,284       1,529,791  

Derivatives other than for Trading Liabilities

      2,770,852       4,314,108  

Other Liabilities

      6,301,484       7,902,609  

Reserve for Bonus Payments

      120,052       71,453  

Reserve for Variable Compensation

      2,278       1,784  

Net Defined Benefit Liability

      71,774       71,708  

Reserve for Director and Corporate Auditor Retirement Benefits

      557       509  

Reserve for Possible Losses on Sales of Loans

      1,309       12,358  

Reserve for Contingencies

      6,622       13,196  

Reserve for Reimbursement of Deposits

      17,620       14,582  

Reserve for Reimbursement of Debentures

      10,504       8,219  

Reserves under Special Laws

      3,132       3,132  

Deferred Tax Liabilities

      30,923       21,395  

Deferred Tax Liabilities for Revaluation Reserve for Land

      59,962       59,499  

Acceptances and Guarantees

      8,346,878       9,231,896  
  

 

 

    

 

 

  

Total Liabilities

    ¥ 227,865,110     ¥ 242,762,605  
  

 

 

    

 

 

  

Net Assets

     

Common Stock

    ¥ 2,256,767     ¥ 2,256,767  

Capital Surplus

      1,125,324       1,129,388  

Retained Earnings

      4,756,435       5,091,194  

Treasury Stock

      (8,342 )      (8,607 ) 
  

 

 

    

 

 

  

Total Shareholders’ Equity

      8,130,185       8,468,742  
  

 

 

    

 

 

  

Net Unrealized Gains (Losses) on Other Securities

      719,822       230,046  

Deferred Gains or Losses on Hedges

      (76,757 )      (227,046 ) 

Revaluation Reserve for Land

      132,156       131,108  

Foreign Currency Translation Adjustments

      2,346       224,296  

Remeasurements of Defined Benefit Plans

      169,652       125,734  

Own Credit Risk Adjustments, Net of Tax

      (23 )      (3 ) 
  

 

 

    

 

 

  

Total Accumulated Other Comprehensive Income

      947,197       484,136  
  

 

 

    

 

 

  

Stock Acquisition Rights

      94       5  

Non-Controlling Interests

      123,555       75,750  
  

 

 

    

 

 

  

Total Net Assets

      9,201,031       9,028,634  
  

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 237,066,142     ¥ 251,791,239  
  

 

 

    

 

 

  

 

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 nine months
ended
December 31, 2021		     For the nine months
ended
December 31, 2022		  

Ordinary Income

    ¥ 2,345,453     ¥ 4,308,147  

Interest Income

      932,956       2,050,840  

Interest on Loans and Bills Discounted

      639,491       1,175,714  

Interest and Dividends on Securities

      179,667       268,434  

Fiduciary Income

      44,755       43,548  

Fee and Commission Income

      648,856       640,453  

Trading Income

      275,516       1,056,220  

Other Operating Income

      239,665       389,222  

Other Ordinary Income

      203,702       127,861  

Ordinary Expenses

      1,847,796       3,649,996  

Interest Expenses

      218,683       1,326,742  

Interest on Deposits

      42,572       495,216  

Fee and Commission Expenses

      127,687       125,607  

Trading Expenses

      —         843,720  

Other Operating Expenses

      99,907       140,296  

General and Administrative Expenses

      1,010,145       1,057,623  

Other Ordinary Expenses

      391,372       156,004  
  

 

 

    

 

 

  

Ordinary Profits

      497,656       658,150  
  

 

 

    

 

 

  

Extraordinary Gains

      67,229       41,945  

Extraordinary Losses

      9,779       10,134  
  

 

 

    

 

 

  

Income before Income Taxes

      555,106       689,961  
  

 

 

    

 

 

  

Income Taxes:

     

Current

      94,980       104,022  

Refund of Income Taxes

      (270 )      (9,271 ) 

Deferred

      (27,757 )      47,787  
  

 

 

    

 

 

  

Total Income Taxes

      66,951       142,537  
  

 

 

    

 

 

  

Profit

      488,154       547,423  
  

 

 

    

 

 

  

Profit Attributable to Non-controlling Interests

      9,497       4,146  
  

 

 

    

 

 

  

Profit Attributable to Owners of Parent

    ¥ 478,656     ¥ 543,277  

 

1-5

Mizuho Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

     Millions of yen  
     For the nine months
ended
December 31, 2021		     For the nine months
ended
December 31, 2022		  

Profit

    ¥ 488,154     ¥ 547,423  

Other Comprehensive Income

      (237,204 )      (460,709 ) 

Net Unrealized Gains (Losses) on Other Securities

      (154,295 )      (491,119 ) 

Deferred Gains or Losses on Hedges

      (84,735 )      (150,531 ) 

Foreign Currency Translation Adjustments

      72,084       195,641  

Remeasurements of Defined Benefit Plans

      (78,465 )      (43,681 ) 

Own Credit Risk Adjustments, Net of Tax

      —         19  

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

      8,207       28,962  
  

 

 

    

 

 

  

Comprehensive Income

      250,949       86,714  
  

 

 

    

 

 

  

(Breakdown)

     

Comprehensive Income Attributable to Owners of Parent

      240,222       81,264  

Comprehensive Income Attributable to Non-controlling Interests

      10,726       5,450  

 

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 Third Quarter of Fiscal 2022

(Nine months ended December 31, 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 THIRD 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  

 

 

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

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

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

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

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

 

Mizuho Financial Group, Inc.

 

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2022

1. Income Analysis

Consolidated

 

            (Billions of yen)  
            Third Quarter of Fiscal 2022
(Accumulated  Period)		     Third Quarter of Fiscal 2021
(Accumulated Period)		  
                  Change        

Consolidated Gross Profits

      1        1,743.9       48.4       1,695.4  

Net Interest Income

      2        724.0       9.8       714.2  

Fiduciary Income

      3        43.5       (1.2 )      44.7  

Credit Costs for Trust Accounts

      4        —         —         —    

Net Fee and Commission Income

      5        514.8       (6.3 )      521.1  

Net Trading Income

      6        212.4       (63.0 )      275.5  

Net Other Operating Income

      7        248.9       109.1       139.7  

General and Administrative Expenses

      8        (1,057.6 )      (47.4 )      (1,010.1 ) 

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

      9        (70.1 )      90.1       (160.3 ) 

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

      10        4.7       (7.6 )      12.3  

Net Gains (Losses) related to Stocks

      11        47.4       77.3       (29.8 ) 

Equity in Income from Investments in Affiliates

      12        20.6       (2.7 )      23.3  

Other

      13        (30.8 )      2.4       (33.2 ) 
     

 

 

    

 

 

    

 

 

  

Ordinary Profits

      14        658.1       160.4       497.6  
     

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

      15        31.8       (25.6 )      57.4  

Income before Income Taxes

      16        689.9       134.8       555.1  

Income Taxes

      17        (142.5 )      (75.5 )      (66.9 ) 

Profit

      18        547.4       59.2       488.1  

Profit Attributable to Non-controlling Interests

      19        (4.1 )      5.3       (9.4 ) 
     

 

 

    

 

 

    

 

 

  

Profit Attributable to Owners of Parent

      20        543.2       64.6       478.6  
     

 

 

    

 

 

    

 

 

  

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

      21        (65.3 )      82.5       (147.9 ) 

 

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        676.2       (4.4 )      680.7  

 

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        167       6       161  

Number of affiliates under the equity method

      24        26       2       24  

 

2-1

Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

            (Billions of yen)  
            Third Quarter of Fiscal 2022
(Accumulated Period)		     Third Quarter of Fiscal 2021
(Accumulated Period)		  
            MHBK     MHTB     Aggregate
Figures		     Change        

Gross Profits

      1        1,048.7       77.1       1,125.8       11.6       1,114.2  

Net Interest Income

      2        643.7       14.3       658.1       15.0       643.0  

Fiduciary Income

      3          44.0       44.0       (1.2 )      45.2  

Trust Fees for Jointly Operated Designated Money Trust

      4          2.9       2.9       0.0       2.9  

Credit Costs for Trust Accounts

      5          —         —         —         —    

Net Fee and Commission Income

      6        285.3       18.9       304.3       (3.5 )      307.9  

Net Trading Income

      7        (6.6 )      —         (6.6 )      (49.9 )      43.3  

Net Other Operating Income

      8        126.2       (0.2 )      126.0       51.2       74.7  

General and Administrative Expenses

(excluding Non-Recurring Losses)

      9        (568.1 )      (58.5 )      (626.6 )      7.1       (633.8 ) 
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Business Profits (before Reversal of (Provision for)

General Reserve for Losses on Loans) (1)

      10        480.6       18.6       499.2       18.7       480.4  

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

      11        520.2       18.6       538.9       91.8       447.0  

Excluding Net Gains (Losses) from redemption of

Investment Trusts

      12        497.2       18.6       515.8       79.8       436.0  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

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

      13        (24.3 )      —         (24.3 )      (137.8 )      113.5  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Business Profits

      14        456.3       18.6       474.9       (119.0 )      593.9  

Net Gains (Losses) related to Bonds

      15        (39.6 )      (0.0 )      (39.6 )      (73.0 )      33.3  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Non-Recurring Gains (Losses)

      16        35.4       6.3       41.7       327.8       (286.1 ) 

Net Gains (Losses) related to Stocks

      17        36.1       1.9       38.0       68.6       (30.5 ) 

Expenses related to Portfolio Problems

      18        (12.2 )      (0.0 )      (12.2 )      261.4       (273.7 ) 

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

      19        4.1       0.1       4.3       (7.0 )      11.4  

Other

      20        7.3       4.2       11.5       4.8       6.6  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ordinary Profits

      21        491.7       24.9       516.6       208.8       307.8  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

      22        31.7       4.1       35.9       (22.0 )      57.9  

Income before Income Taxes

      23        523.4       29.1       552.6       186.8       365.7  

Income Taxes

      24        (143.7 )      (7.8 )      (151.5 )      (24.9 )      (126.6 ) 
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Income

      25        379.7       21.2       401.0       161.9       239.0  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(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 Reserve for Losses on Loans) from core business areas[11]

=Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)[10]-Net Gains (Losses) related to Bonds[15]

    

    

 

Credit-related Costs

      26        (32.3 )      0.1       (32.1 )      116.5       (148.7 ) 

 

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        (24.3 )      0.1       (24.1 )      (137.6 )      113.5  

Losses on Write-offs of Loans

      29        (1.6 )      (0.0 )      (1.6 )      (4.6 )      2.9  

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

      30        (17.3 )      0.0       (17.3 )      247.7       (265.0 ) 

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

      31        16.1       —         16.1       16.0       0.1  

Reversal of (Provision for) Reserve for Contingencies

      32        (3.1 )      —         (3.1 )      (3.1 )      (0.0 ) 

Other (including Losses on Sales of Loans)

      33        (2.0 )      —         (2.0 )      (1.7 )      (0.2 ) 

Total

      34        (32.3 )      0.1       (32.1 )      116.5       (148.7 ) 

 

2-2

Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

     (Billions of yen)  
     Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
                              Change            

Net Gains (Losses) related to Stocks

      47.4       77.3       (29.8 ) 

Gains on Sales

      92.8       (67.8 )      160.7  

Losses on Sales

      (42.0 )      81.4       (123.5 ) 

Impairment (Devaluation)

      (1.5 )      38.2       (39.7 ) 

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

      —         0.1       (0.1 ) 

Gains (Losses) on Derivatives other than for Trading

      (1.7 )      25.3       (27.0 ) 

 

Non-Consolidated

 

       
Aggregate Figures for the 2 Banks    Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
                          Change        

Net Gains (Losses) related to Stocks

      38.0       68.6       (30.5 ) 

Gains on Sales

      83.3       (72.5 )      155.9  

Losses on Sales

      (40.7 )      79.5       (120.3 ) 

Impairment (Devaluation)

      (2.8 )      36.1       (38.9 ) 

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

      —         0.1       (0.1 ) 

Gains (Losses) on Derivatives other than for Trading

      (1.7 )      25.3       (27.0 ) 
Mizuho Bank    Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
           Change        

Net Gains (Losses) related to Stocks

      36.1       68.1       (32.0 ) 

Gains on Sales

      78.8       (75.4 )      154.2  

Losses on Sales

      (38.2 )      82.0       (120.3 ) 

Impairment (Devaluation)

      (2.7 )      36.1       (38.8 ) 

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

      —         0.1       (0.1 ) 

Gains (Losses) on Derivatives other than for Trading

      (1.7 )      25.3       (27.0 ) 
Mizuho Trust & Banking    Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
           Change        

Net Gains (Losses) related to Stocks

      1.9       0.4       1.4  

Gains on Sales

      4.5       2.9       1.6  

Losses on Sales

      (2.5 )      (2.5 )      (0.0 ) 

Impairment (Devaluation)

      (0.0 )      0.0       (0.1 ) 

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

Consolidated

(1) Other Securities

 

        (Billions of yen)  
        As of December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
        Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses  
        (=Fair Value)           Gains     Losses     (=Fair Value)           Gains     Losses     (=Fair Value)           Gains     Losses  

MHFG (Consolidated)

                        

Other Securities

     32,678.9       298.8       1,488.8       1,189.9       42,065.7       990.1       1,593.7       603.6       35,384.4       129.8       1,474.6       1,344.7  

Japanese Stocks

     2,457.2       1,424.4       1,459.4       34.9       2,577.3       1,499.9       1,538.3       38.4       2,443.3       1,390.5       1,422.8       32.3  

Japanese Bonds

     18,516.8       (106.2 )      9.5       115.7       28,620.4       (52.1 )      19.7       71.9       20,775.4       (54.6 )      19.9       74.5  

Japanese Government Bonds

     14,722.5       (58.4 )      1.5       59.9       25,158.7       (30.5 )      7.4       38.0       17,103.3       (28.9 )      9.4       38.3  

Other

     11,704.7       (1,019.3 )      19.9       1,039.2       10,867.9       (457.5 )      35.5       493.1       12,165.5       (1,206.0 )      31.7       1,237.8  

Foreign Bonds

     9,775.1       (916.3 )      5.6       921.9       8,937.5       (414.2 )      2.3       416.6       10,332.4       (1,081.7 )      1.6       1,083.3  
                         

 

*   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 ¥23.1 billion, ¥20.9 billion and ¥27.4 billion, which were recognized in the statement of income for December 31, 2022, September 30, 2022 and March 31, 2022, respectively, by applying the fair-value hedge accounting and others.

    

*   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 December 31, 2022, September 30, 2022 and March 31, 2022 are ¥346.5 billion (Foreign Bonds ¥356.4 billion and Japanese Government Bonds ¥9.9 billion), ¥458.0 billion (Foreign Bonds ¥475.4 billion and Japanese Government Bonds ¥(4.3) billion) and ¥126.2 billion (Foreign Bonds ¥135.3 billion and Japanese Government Bonds ¥– billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of December 31, 2022, September 30, 2022 and March 31, 2022 are ¥645.3 billion (Foreign Bonds ¥(559.8) billion and Japanese Government Bonds ¥(48.4) billion), ¥587.9 billion (Foreign Bonds ¥(606.2) billion and Japanese Government Bonds ¥(33.2) billion) and ¥1,116.4 billion (Foreign Bonds ¥(278.9) billion and Japanese Government Bonds ¥(30.5) billion), respectively.

    

 

(2) Bonds Held to Maturity

 

 

        (Billions of yen)  
        As of December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
        Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses  
              Gains     Losses           Gains     Losses           Gains     Losses  

MHFG (Consolidated)

     2,000.2       (157.0 )      2.3       159.3       1,517.5       (52.0 )      5.3       57.3       2,070.5       (177.9 )      3.9       181.8  

 

2-4

Mizuho Financial Group, Inc.

 

Non-Consolidated

 

Aggregate Figures for the 2 Banks

 

(1) Other Securities

 

 

 

 

    (Billions of yen)  
    As of December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
    Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses     Book Value     Unrealized Gains/Losses  
    (=Fair Value)           Gains     Losses     (=Fair Value)           Gains     Losses     (=Fair Value)           Gains     Losses  

MHBK

                        

Other Securities

     31,777.1       164.0       1,353.3       1,189.2       41,243.3       846.8       1,446.7       599.8       34,529.0       (5.7 )      1,336.3       1,342.0  

Japanese Stocks

     2,253.6       1,292.8       1,327.5       34.7       2,349.0       1,360.4       1,395.9       35.4       2,229.7       1,257.8       1,288.0       30.2   

Japanese Bonds

     18,406.7       (106.6 )      8.9       115.5       28,517.0       (52.9 )      18.9       71.9       20,666.6       (55.2 )      19.2       74.5  

Japanese Government Bonds

     14,711.3       (58.4 )      1.5       59.9       25,147.5       (30.5 )      7.4       38.0       17,092.0       (28.9 )      9.4       38.3  

Other

     11,116.6       (1,022.1 )      16.7       1,038.9       10,377.2       (460.6 )      31.8       492.4       11,632.6       (1,208.3 )      28.9       1,237.2  

Foreign Bonds

     9,234.2       (917.7 )      3.7       921.5       8,487.9       (414.8 )      1.1       416.0       9,838.1       (1,082.3 )      0.4       1,082.8  

MHTB

                        

Other Securities

     230.2       72.0       74.6       2.5       240.3       73.0       78.3       5.3       235.2       71.6       76.0       4.3  

Japanese Stocks

     132.3       70.8       73.3       2.4       148.2       71.8       77.1       5.2       138.4       70.4       74.7       4.3  

Japanese Bonds

     91.8       0.4       0.5       0.1       86.4       0.7       0.8       0.0       90.7       0.6       0.6       0.0  

Japanese Government Bonds

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

Other

     6.0       0.7       0.7       0.0       5.6       0.4       0.4       0.0       6.0       0.5       0.5       0.0  

Foreign Bonds

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

Total

                        

Other Securities

     32,007.4       236.0       1,427.9       1,191.8       41,483.6       919.9       1,525.1       605.1       34,764.2       65.9       1,412.4       1,346.4  

Japanese Stocks

     2,386.0       1,363.6       1,400.8       37.2       2,497.3       1,432.3       1,473.0       40.7       2,368.2       1,328.3       1,362.8       34.5  

Japanese Bonds

     18,498.6       (106.2 )      9.5       115.7       28,603.4       (52.1 )      19.7       71.9       20,757.4       (54.6 )      19.9       74.5  

Japanese Government Bonds

     14,711.3       (58.4 )      1.5       59.9       25,147.5       (30.5 )      7.4       38.0       17,092.0       (28.9 )      9.4       38.3  

Other

     11,122.6       (1,021.3 )      17.5       1,038.9       10,382.9       (460.1 )      32.3       492.4       11,638.6       (1,207.7 )      29.5       1,237.2  

Foreign Bonds

     9,234.2       (917.7 )      3.7       921.5       8,487.9       (414.8 )      1.1       416.0       9,838.1       (1,082.3 )      0.4       1,082.8  

 

*

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 ¥23.0 billion, ¥20.9 billion and ¥27.4 billion, which were recognized in the statement of income (aggregate figures for the 2 banks) for December 31, 2022, September 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 December 31, 2022, September 30, 2022 and March 31, 2022 are ¥346.5 billion (Foreign Bonds ¥356.4 billion and Japanese Government Bonds ¥9.9 billion), ¥458.0 billion (Foreign Bonds ¥475.4 billion and Japanese Government Bonds ¥(4.3) billion) and ¥126.2 billion (Foreign Bonds ¥135.3 billion and Japanese Government Bonds ¥– billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments (aggregate figures for the 2 banks) as of December 31, 2022, September 30, 2022 and March 31, 2022 are ¥582.6 billion (Foreign Bonds ¥(561.3) billion and Japanese Government Bonds ¥(48.4) billion), ¥524.0 billion (Foreign Bonds ¥(606.9) billion and Japanese Government Bonds ¥(33.2) billion) and ¥1,046.2 billion (Foreign Bonds ¥(279.5) billion and Japanese Government Bonds ¥(30.5) billion), respectively.

 

2-5

Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

 

    (Billions of yen)  
    As of December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
          Unrealized Gains/Losses           Unrealized Gains/Losses           Unrealized Gains/Losses  
      Book Value                              Gains         Losses         Book Value                              Gains         Losses         Book Value                              Gains         Losses    

MHBK

     2,000.2       (157.0 )      2.3       159.3       1,517.5       (52.0 )      5.3       57.3       2,070.5       (177.9 )      3.9       181.8  

MHTB

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

Total

     2,000.2       (157.0 )      2.3       159.3       1,517.5       (52.0 )      5.3       57.3       2,070.5       (177.9 )      3.9       181.8  

(3) Investments in Subsidiaries and Affiliates

 

    (Billions of yen)  
    As of December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
          Unrealized Gains/Losses           Unrealized Gains/Losses           Unrealized Gains/Losses  
      Book Value                              Gains         Losses         Book Value                              Gains         Losses         Book Value                              Gains         Losses    

MHBK

     108.9       310.4        310.4       —         108.9       311.9          312.3       0.3       108.9       306.5        306.6       0.1  

MHTB

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

Total

     108.9       310.4        310.4       —         108.9       311.9        312.3       0.3       108.9       306.5        306.6       0.1  

(Reference)

Unrealized Gains/Losses on Other Securities

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

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

The base amounts are as follows:

Consolidated

 

     (Billions of yen)  
     As of December 31, 2022     As of
March 31,
2022		     As of
September 30,
2022
(Reference)		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		     Unrealized
Gains/Losses		  
           Change  

Other Securities

      275.6       (687.0 )      962.7       108.9  

Japanese Stocks

      1,401.3       (71.1 )      1,472.4       1,369.6  

Japanese Bonds

      (106.2 )      (54.0 )      (52.1 )      (54.6 ) 

Japanese Government Bonds

      (58.4 )      (27.8 )      (30.5 )      (28.9 ) 

Other

      (1,019.4 )      (561.8 )      (457.5 )      (1,206.0 ) 

Foreign Bonds

      (916.4 )      (502.1 )      (414.2 )      (1,081.7 ) 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

     (Billions of yen)  
     As of December 31, 2022     As of
March 31,
2022		     As of
September 30,
2022
(Reference)		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		     Unrealized
Gains/Losses		  
           Change  

Other Securities

      213.0       (679.4 )      892.4       45.0  

Japanese Stocks

      1,340.6       (64.2 )      1,404.8       1,307.3  

Japanese Bonds

      (106.2 )      (54.0 )      (52.1 )      (54.6 ) 

Japanese Government Bonds

      (58.4 )      (27.8 )      (30.5 )      (28.9 ) 

Other

      (1,021.3 )      (561.2 )      (460.1 )      (1,207.7 ) 

Foreign Bonds

      (917.7 )      (502.9 )      (414.8 )      (1,082.3 ) 

 

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 December 31, 2022     As of March 31, 2022     As of September 30, 2022 (Reference)  
     Deferred Hedge Gains/Losses     Deferred Hedge Gains/Losses     Deferred Hedge Gains/Losses  
     Gains      Losses            Gains      Losses            Gains      Losses         

MHBK

          2,227.0            2,580.4            (353.3 )          1,320.4            1,435.8            (115.3 )      2,222.4            2,373.5            (151.0 ) 

MHTB

      33.3        13.7        19.5       15.5        15.9        (0.3 )      20.9        14.4        6.5  

Total

      2,260.4        2,594.2        (333.7 )      1,336.0        1,451.7        (115.7 )      2,243.4        2,387.9        (144.4 ) 

 

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
   December 31,   
2022		        Change       As of
  March 31,  
2022		      As of
  September 30,  
2022
(Reference)		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      45.0        (5.8 )      50.8        49.0  

Claims with Collection Risk

      655.3        (66.9 )      722.2        621.0  

Claims for Special Attention

      324.2        (29.7 )      354.0        370.9  

Loans Past Due for 3 Months or More

      1.3        (1.1 )      2.4        30.1  

Restructured Loans

      322.8        (28.6 )      351.5        340.7  

Sub-total[1]

      1,024.6        (102.4 )      1,127.1        1,040.9  

Normal Claims

      104,061.4        7,836.5       96,224.9        105,707.0  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total[2]

      105,086.1        7,734.1       97,352.0        106,748.0  
  

 

 

     

 

 

    

 

 

     

 

 

  
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

      86.7        (22.1 )      108.8        95.7  
     (%)  

NPL ratio[1]/[2]

      0.97        (0.18 )      1.15        0.97  

Trust Account

     (Billions of yen)  
     As of
   December 31,   
2022		        Change       As of
  March 31,  
2022		      As of
  September 30,  
2022
(Reference)		  

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

      3.1        (0.6 )      3.8        3.2  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total[4]

       3.1        (0.6 )      3.8        3.2  
  

 

 

     

 

 

    

 

 

     

 

 

  
     (%)  

NPL ratio[3]/[4]

      —          —         —          —    

 

2-8

Mizuho Financial Group, Inc.

 

Consolidated + Trust Account

 

     (Billions of yen)  
     As of
   December 31,   
2022		        Change       As of
  March 31,  
2022		      As of
  September 30,  
2022
(Reference)		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      45.0        (5.8 )      50.8        49.0  

Claims with Collection Risk

      655.3        (66.9 )      722.2        621.0  

Claims for Special Attention

      324.2        (29.7 )      354.0        370.9  

Loans Past Due for 3 Months or More

      1.3        (1.1 )      2.4        30.1  

Restructured Loans

      322.8        (28.6 )      351.5        340.7  

Sub-total[5]

      1,024.6        (102.4 )      1,127.1        1,040.9  

Normal Claims

      104,064.6        7,835.9       96,228.7        105,710.3  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total[6]

      105,089.2        7,733.4       97,355.8        106,751.2  
  

 

 

     

 

 

    

 

 

     

 

 

  
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

      86.7        (22.1 )      108.8        95.7  
     (%)  

NPL ratio[5]/[6]

      0.97        (0.18 )      1.15        0.97  

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
   December 31,   
2022		        Change       As of
  March 31,  
2022		     As of
  September 30,  
2022
(Reference)		  

Claims against Bankrupt and Substantially Bankrupt Obligors

      34.5        (6.5 )      41.1       38.8  

Claims with Collection Risk

      661.1        (64.8 )      726.0       626.7  

Claims for Special Attention

      295.3        (23.2 )      318.5       341.2  

Loans Past Due for 3 Months or More

      0.6        (1.8 )      2.4       29.3  

Restructured Loans

      294.6        (21.4 )      316.0       311.8  

Sub-total[1]

      991.0        (94.6 )      1,085.6       1,006.7  

Normal Claims

      106,426.1        8,492.6       97,933.5       107,912.4  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total[2]

      107,417.2        8,398.0       99,019.2       108,919.2  
  

 

 

     

 

 

    

 

 

    

 

 

  

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

      83.6        (21.7 )      105.4       92.9  
     (%)  

NPL ratio[1]/[2]

      0.92        (0.17 )      1.09        0.92  
Mizuho Bank          
     (Billions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      34.3        (6.4 )      40.7       38.5  

Claims with Collection Risk

      653.9        (60.8 )      714.8       618.4  

Claims for Special Attention

      293.3        (23.6 )      316.9       339.1  

Loans Past Due for 3 Months or More

      0.6        (1.7 )      2.4       29.3  

Restructured Loans

      292.6        (21.8 )      314.5       309.8  

Sub-total[3]

      981.5        (90.9 )      1,072.5       996.1  

Normal Claims

      103,272.8        8,537.9       94,734.9       104,761.0  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total[4]

      104,254.4        8,447.0       95,807.4       105,757.1  
  

 

 

     

 

 

    

 

 

    

 

 

  

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

      83.4        (21.7 )      105.2       92.7  
     (%)  

NPL ratio[3]/[4]

      0.94        (0.17 )      1.11       0.94  

 

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        0.2  

Claims with Collection Risk

      7.2       (3.9 )       11.2        8.3  

Claims for Special Attention

      2.0       0.4        1.5        2.0  

Loans Past Due for 3 Months or More

      —         (0.0 )       0.0        0.0  

Restructured Loans

      2.0         0.4        1.5        2.0  

Sub-total[5]

      9.4       (3.6 )       13.1        10.6  

Normal Claims

      3,150.1       (44.6 )       3,194.8        3,148.2  
  

 

 

    

 

 

     

 

 

     

 

 

  

Total[6]

                3,159.6       (48.3 )       3,207.9                   3,158.8  
  

 

 

    

 

 

     

 

 

     

 

 

  

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

      0.2       0.0        0.2        0.2  
     (%)  

NPL ratio[5]/[6]

      0.30       (0.10 )       0.40        0.33  
(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

      3.1       (0.6 )       3.8        3.2  
  

 

 

    

 

 

     

 

 

     

 

 

  

Total[8]

      3.1       (0.6 )       3.8        3.2  
  

 

 

    

 

 

     

 

 

     

 

 

  
     (%)  

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
  December 31, 2022  		          Change         As of
  March 31, 2022  		      As of
  September 30, 2022  
(Reference)		  

MHBK

      137,818.4        4,184.5       133,633.8        137,150.1  

MHTB

      2,609.7        38.3       2,571.3        2,559.0  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      140,428.1        4,222.9        136,205.2        139,709.1  
  

 

 

     

 

 

    

 

 

     

 

 

  

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks

 

     (Billions of yen)  
     As of
  December 31, 2022  		          Change         As of
  March 31, 2022  		      As of
  September 30, 2022  
(Reference)		  

MHBK

      108,619.8        (1,340.2 )      109,960.1        105,670.7  

Individual deposits

      47,926.1        1,062.6       46,863.5        47,191.6  

MHTB

      2,609.7        38.3       2,571.3        2,559.0  

Individual deposits

      786.6        (17.3 )      803.9        800.6  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      111,229.6        (1,301.8 )      112,531.4        108,229.8  
  

 

 

     

 

 

    

 

 

     

 

 

  

Individual deposits

      48,712.7        1,045.2       47,667.5        47,992.3  

 

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
  December 31, 2022  		          Change         As of
  March 31, 2022  		      As of
  September 30, 2022  
(Reference)		  

MHBK

      89,512.3        6,549.9       82,962.4        89,888.3  

MHTB

      3,137.4        (54.8 )      3,192.3        3,143.9  
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      92,649.8        6,495.0       86,154.8        93,032.2  
  

 

 

     

 

 

    

 

 

     

 

 

  

 

Note: Loans to MHFG are included as follows:

As of December 31, 2022: ¥730.0 billion (from MHBK)

As of September 30, 2022: ¥540.0 billion (from MHBK)

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

 

2-12

Mizuho Financial Group, Inc.

 

(3) Interest Margins (Domestic Operations)

 

          (%)  
          Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
Mizuho Bank                Change        

Return on Loans and Bills Discounted

    1      0.76        0.01       0.74  

Cost of Deposits

    2      0.00        (0.00 )      0.00  
     

 

 

     

 

 

    

 

 

  

Loan and Deposit Rate Margin [1]-[2]

    3      0.76        0.01       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     0.77        0.01       0.76  

Loan and Deposit Rate Margin [4]-[2]

    5         0.77               0.01                              0.75  
          (%)  
          Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
Mizuho Trust & Banking                Change        

Return on Loans and Bills Discounted

    6      0.60        0.01       0.59  

Cost of Deposits

    7      0.00        (0.00 )      0.01  
     

 

 

     

 

 

    

 

 

  

Loan and Deposit Rate Margin [6]-[7]

    8      0.59        0.01       0.58  
     

 

 

     

 

 

    

 

 

  

 

           
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)         (%)  
          Third Quarter of
Fiscal 2022
(Accumulated Period)		     Third Quarter of
Fiscal 2021
(Accumulated Period)		  
Aggregate Figures for the 2 Banks                Change        

Return on Loans and Bills Discounted

    11      0.75        0.01       0.73  

Cost of Deposits

    12      0.00        (0.00 )      0.00  
     

 

 

     

 

 

    

 

 

  

Loan and Deposit Rate Margin [11]-[12]

    13      0.75        0.01       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      0.76        0.01       0.75  

Loan and Deposit Rate Margin [14]-[12]

    15          0.76               0.01                              0.74  

 

2-13

Mizuho Bank, Ltd.

 

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

 

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

Assets

       

Cash and Due from Banks

    ¥ 53,245,855     ¥ 48,803,771     ¥ 4,442,083  

Call Loans

      1,213,064       1,223,766       (10,701 ) 

Receivables under Resale Agreements

      3,609,145       1,681,260       1,927,885  

Guarantee Deposits Paid under Securities Borrowing Transactions

      156,287       154,255       2,032  

Other Debt Purchased

      764,045       679,939       84,106  

Trading Assets

      7,020,058       4,496,695       2,523,363  

Money Held in Trust

      504       504       0  

Securities

      35,430,600       44,608,181       (9,177,580 ) 

Loans and Bills Discounted

      89,512,391       82,962,457       6,549,933  

Foreign Exchange Assets

      2,835,559       2,509,122       326,437  

Derivatives other than for Trading

      13,452,275       6,133,443       7,318,831  

Other Assets

      7,652,835       5,958,848       1,693,987  

Tangible Fixed Assets

      851,614       847,689       3,924  

Intangible Fixed Assets

      345,460       347,681       (2,221 ) 

Prepaid Pension Cost

      401,679       440,611       (38,931 ) 

Deferred Tax Assets

      425,524       273,129       152,394  

Customers’ Liabilities for Acceptances and Guarantees

      10,284,574       8,733,646       1,550,927  

Reserves for Possible Losses on Loans

      (705,119 )      (814,778 )      109,658  

Reserve for Possible Losses on Investments

      —         (106 )      106  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 226,496,358     ¥ 209,040,119     ¥ 17,456,238  
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 137,818,417     ¥ 133,633,887     ¥ 4,184,529  

Negotiable Certificates of Deposit

      18,424,292       16,162,209       2,262,083  

Call Money

      1,010,914       940,058       70,856  

Payables under Repurchase Agreements

      12,023,602       9,293,236       2,730,366  

Guarantee Deposits Received under Securities Lending Transactions

      57,506       146,864       (89,358 ) 

Commercial Paper

      2,009,782       1,775,859       233,922  

Trading Liabilities

      5,909,029       3,447,533       2,461,496  

Borrowed Money

      10,335,951       14,397,626       (4,061,674 ) 

Foreign Exchange Liabilities

      1,009,967       1,788,299       (778,332 ) 

Bonds and Notes

      650,206       810,504       (160,298 ) 

Derivatives other than for Trading

      14,207,146       6,635,032       7,572,114  

Other Liabilities

      6,225,896       4,302,633       1,923,263  

Reserve for Bonus Payments

      4,513       24,582       (20,068 ) 

Reserve for Variable Compensation

      567       763       (195 ) 

Reserve for Possible Losses on Sales of Loans

      12,358       1,309       11,048  

Reserve for Contingencies

      4,557       1,306       3,250  

Reserve for Reimbursement of Deposits

      13,804       16,627       (2,823 ) 

Reserve for Reimbursement of Debentures

      8,219       10,504       (2,284 ) 

Deferred Tax Liabilities for Revaluation Reserve for Land

      59,499       59,962       (462 ) 

Acceptances and Guarantees

      10,284,574       8,733,646       1,550,927  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      220,070,807       202,182,447       17,888,360  
  

 

 

    

 

 

    

 

 

  

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

      2,738,852       2,519,294       219,558  

Appropriated Reserve

      421,264       389,012       32,251  

Other Retained Earnings

      2,317,588       2,130,281       187,306  

Retained Earnings Brought Forward

      2,317,588       2,130,281       187,306  
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      6,402,310       6,182,751       219,558  
  

 

 

    

 

 

    

 

 

  

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

      137,844       623,367       (485,523 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      (245,712 )      (80,603 )      (165,109 ) 

Revaluation Reserve for Land, net of Taxes

      131,108       132,156       (1,048 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      23,240       674,920       (651,680 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      6,425,550       6,857,672       (432,122 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 226,496,358     ¥ 209,040,119     ¥ 17,456,238  
  

 

 

    

 

 

    

 

 

  

 

2-14

Mizuho Bank, Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK

 

     Millions of yen  
     For the nine months
ended
December 31, 2022
(A)		     For the nine months
ended
December 31, 2021
(B)		     Change
(A) - (B)		  

Ordinary Income

    ¥ 2,452,241     ¥ 1,547,997     ¥ 904,243  

Interest Income

      1,711,852       802,959       908,893  

Interest on Loans and Bills Discounted

      1,075,050       564,812       510,238  

Interest and Dividends on Securities

      252,269       169,768       82,501  

Fee and Commission Income

      417,489       386,763       30,725  

Trading Income

      159       43,964       (43,805 ) 

Other Operating Income

      230,724       140,929       89,795  

Other Ordinary Income

      92,015       173,381       (81,365 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Expenses

      1,960,516       1,273,396       687,120  

Interest Expenses

      1,068,081       173,516       894,565  

Interest on Deposits

      467,139       22,482       444,656  

Fee and Commission Expenses

      132,135       109,965       22,169  

Trading Expenses

      6,827       —         6,827  

Other Operating Expenses

      104,467       66,430       38,036  

General and Administrative Expenses

      541,093       547,324       (6,230 ) 

Other Ordinary Expenses

      107,909       376,158       (268,248 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Profits

      491,724       274,601       217,123  
  

 

 

    

 

 

    

 

 

  

Extraordinary Gains

      40,014       59,471       (19,456 ) 
  

 

 

    

 

 

    

 

 

  

Extraordinary Losses

      8,261       8,935       (674 ) 
  

 

 

    

 

 

    

 

 

  

Income before Income Taxes

      523,478       325,137       198,341  

Income Taxes:

       

Current

      20,915       141,015       (120,100 ) 

Refund of Income Taxes

      (9,271 )      (267 )      (9,003 ) 

Deferred

      132,067       (26,129 )      158,197  
  

 

 

    

 

 

    

 

 

  

Net Income

    ¥ 379,767     ¥ 210,518     ¥ 169,249  
  

 

 

    

 

 

    

 

 

  

 

2-15

Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO TRUST & BANKING

 

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

Assets

       

Cash and Due from Banks

    ¥ 2,287,555     ¥ 1,923,672     ¥ 363,882  

Guarantee Deposits Paid under Securities Borrowing Transactions

      40,216       20,046       20,170  

Other Debt Purchased

      35,261       35,314       (53 ) 

Money Held in Trust

      27,277       26,556       720  

Securities

      277,079       288,530       (11,451 ) 

Loans and Bills Discounted

      3,137,456       3,192,348       (54,891 ) 

Foreign Exchange Assets

      5,208       3,898       1,310  

Other Assets

      262,351       255,755       6,596  

Tangible Fixed Assets

      98,592       100,132       (1,539 ) 

Intangible Fixed Assets

      18,651       21,728       (3,076 ) 

Prepaid Pension Cost

      69,526       66,607       2,918  

Customers’ Liabilities for Acceptances and Guarantees

      15,096       14,100       996  

Reserves for Possible Losses on Loans

      (2,309 )      (2,470 )      161  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 6,271,965     ¥ 5,946,221     ¥ 325,744  
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 2,609,748     ¥ 2,571,352     ¥ 38,395  

Negotiable Certificates of Deposit

      508,680       691,880       (183,200 ) 

Call Money

      707,777       603,990       103,787  

Borrowed Money

      300,000       300,000       —    

Due to Trust Accounts

      1,529,791       1,167,284       362,506  

Other Liabilities

      48,356       31,317       17,039  

Reserve for Bonus Payments

      27       2,741       (2,713 ) 

Reserve for Variable Compensation

      184       272       (87 ) 

Provision for Retirement Benefits

      2,903       4,935       (2,032 ) 

Reserve for Reimbursement of Deposits

      778       992       (213 ) 

Reserve for Loss of Transfer

      —         3,061       (3,061 ) 

Deferred Tax Liabilities

      25,676       17,484       8,191  

Acceptances and Guarantees

      15,096       14,100       996  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      5,749,020                5,409,413       339,606  
  

 

 

    

 

 

    

 

 

  

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

      269,738       296,471       (26,733 ) 

Appropriated Reserve

      159,891       150,297       9,593  

Other Retained Earnings

      109,847       146,174       (36,327 ) 

Retained Earnings Brought Forward

      109,847       146,174       (36,327 ) 

Treasury Stock

      (79,999 )      (79,999 )      —    
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      452,613       479,346       (26,733 ) 
  

 

 

    

 

 

    

 

 

  

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

      56,758       57,707       (949 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      13,573       (246 )      13,820  
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      70,332       57,460       12,871  
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      522,945       536,807       (13,861 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥     6,271,965     ¥ 5,946,221     ¥ 325,744  
  

 

 

    

 

 

    

 

 

  

 

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 nine months
ended December 31,
2022 (A)		     For the nine months
ended December 31,
2021 (B)		      Change
(A) - (B)		  

Ordinary Income

   ¥ 116,752     ¥ 125,654      ¥ (8,901 ) 

Fiduciary Income

     44,007       45,212        (1,205 ) 

Interest Income

     19,269       19,065        203  

Interest on Loans and Bills Discounted

     14,695       14,839        (144 ) 

Interest and Dividends on Securities

     3,204       2,894        310  

Fee and Commission Income

     46,952       58,287        (11,335 ) 

Other Operating Income

     13       277        (263 ) 

Other Ordinary Income

     6,510       2,810        3,699  
 

 

 

    

 

 

     

 

 

  

Ordinary Expenses

     91,796       92,453        (657 ) 

Interest Expenses

     4,881       5,446        (565 ) 

Interest on Deposits

     145       230        (84 ) 

Fee and Commission Expenses

     27,960       27,162        797  

Trading Expenses

     —         640        (640 ) 

Other Operating Expenses

     221       9        212  

General and Administrative Expenses

     54,988       56,002        (1,013 ) 

Other Ordinary Expenses

     3,743       3,192        551  
 

 

 

    

 

 

     

 

 

  

Ordinary Profits

     24,956       33,200        (8,244 ) 
 

 

 

    

 

 

     

 

 

  

Extraordinary Gains

     5,222       7,742        (2,520 ) 
 

 

 

    

 

 

     

 

 

  

Extraordinary Losses

     1,056       341        714  
 

 

 

    

 

 

     

 

 

  

Income before Income Taxes

     29,122       40,601        (11,479 ) 

Income Taxes:

       

Current

     5,736       7,438        (1,701 ) 

Deferred

     2,150       4,610        (2,460 ) 
 

 

 

    

 

 

     

 

 

  

Net Income

   ¥ 21,234     ¥ 28,552      ¥ (7,317 ) 
 

 

 

    

 

 

     

 

 

  

 

2-17

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES

 

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

Assets

      

Current Assets

      

Cash and Bank Deposits

   ¥ 611,994     ¥ 405,261     ¥ 206,732  

Cash Segregated as Deposits for Customers and Others

     533,216       541,274       (8,058 ) 

Trading Assets

     10,059,485       6,921,502       3,137,982  

Receivables—Unsettled Trades

     —         145,887       (145,887 ) 

Operating Investment Securities

     48,889       40,926       7,963  

Operating Loans Receivable

     2,121       —         2,121  

Receivables Related to Margin Transactions

     30,197       34,802       (4,605 ) 

Collateralized Short-Term Financing Agreements-Receivable

     4,550,906       4,707,548       (156,642 ) 

Advances Paid

     162       94       67  

Securities: Fail to Deliver

     48,243       32,415       15,827  

Short-Term Loans Receivable

     35,814       47,983       (12,169 ) 

Other Current Assets

     833,359       700,334       133,025  

Less: Allowance for Doubtful Accounts

     (74 )      (79 )      4  

Noncurrent Assets

      

Property and Equipment

     18,471       18,742       (271 ) 

Intangible Assets

     64,323       68,497       (4,174 ) 

Investments and Other Assets

     403,009       304,034       98,975  
 

 

 

    

 

 

    

 

 

  

Total Assets

   ¥        17,240,119     ¥ 13,969,227     ¥ 3,270,891  
 

 

 

    

 

 

    

 

 

  

Liabilities

      

Current Liabilities

      

Trading Liabilities

   ¥ 9,482,460     ¥ 5,356,537     ¥ 4,125,922  

Payables—Unsettled Trades

     187,901       —         187,901  

Payables Related to Margin Transactions

     40,081       50,556       (10,474 ) 

Collateralized Short-Term Financing Agreements-Payable

     3,209,259                4,144,682       (935,422 ) 

Deposits Received

     445,921       425,452       20,468  

Guarantee Deposits Received

     292,111       425,613       (133,502 ) 

Securities: Fail to Receive

     8,352       7,083       1,269  

Short-Term Borrowings

     795,591       904,079       (108,487 ) 

Commercial Paper

     474,000       490,500       (16,500 ) 

Bonds and Notes Due within One Year

     293,752       148,768       144,984  

Income Taxes Payable

     271       2,515       (2,243 ) 

Accrued Employees’ Bonuses

     9,712       25,379       (15,666 ) 

Provision for Variable Compensation

     301       411       (109 ) 

Other Current Liabilities

     37,357       46,970       (9,613 ) 

Noncurrent Liabilities

      

Bonds and Notes

     666,689       753,870       (87,180 ) 

Long-Term Borrowings

     647,500       580,000       67,500  

Provision for Retirement Benefits

     21,715       22,579       (863 ) 

Reserve for Loss of Transfer

     916       1,541       (624 ) 

Other Noncurrent Liabilities

     4,008       3,769       239  

Statutory Reserves

      

Reserve for Financial Instruments Transaction Liabilities

     3,132       3,132       0  
 

 

 

    

 

 

    

 

 

  

Total Liabilities

     16,621,037       13,393,441       3,227,595  
 

 

 

    

 

 

    

 

 

  

Net Assets

      

Common Stock

     125,167       125,167       —    

Capital Surplus

     400,249       381,649       18,600  

Additional Paid—in Capital

     285,831       285,831       —    

Other Capital Surplus

     114,417       95,817       18,600  

Retained Earnings

     392,800       425,554       (32,753 ) 

Other Retained Earnings

     392,800       425,554       (32,753 ) 

Retained Earnings Brought Forward

     392,800       425,554       (32,753 ) 

Treasury Stock

     (308,599 )      (369,999 )      61,400  
 

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

     609,617       562,371       47,246  
 

 

 

    

 

 

    

 

 

  

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

     19,260       23,193       (3,933 ) 

Net Deferred Gains or Losses on Hedges, net of Tax

     (9,795 )      (9,778 )      (16 ) 
 

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

     9,464       13,415       (3,950 ) 
 

 

 

    

 

 

    

 

 

  

Total Net Assets

     619,082       575,786       43,296  
 

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

   ¥ 17,240,119     ¥ 13,969,227     ¥ 3,270,891  
 

 

 

    

 

 

    

 

 

  

 

2-18

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO SECURITIES

 

    Millions of yen  
    For the nine months
ended December 31,
2022 (A)		     For the nine months
ended December 31,
2021 (B)		     Change
(A) - (B)		  

Operating Revenues

   ¥ 270,648     ¥ 294,305     ¥ (23,656 ) 

Commissions

     104,076       143,531       (39,455 ) 

Net Gain on Trading

     70,419       103,367       (32,947 ) 

Net Gain on Operating Investment Securities

     1,344       (2,066 )      3,411  

Interest and Dividend Income

     94,807       49,472       45,335  
 

 

 

    

 

 

    

 

 

  

Interest Expenses

     82,787       36,827       45,960  
 

 

 

    

 

 

    

 

 

  

Net Operating Revenues

     187,861       257,477       (69,616 ) 
 

 

 

    

 

 

    

 

 

  

Selling, General and Administrative Expenses

     169,598       193,443       (23,845 ) 

Transaction-Related Expenses

     40,987       55,609       (14,622 ) 

Personnel Expenses

     61,552       72,994       (11,441 ) 

Real Estate Expenses

     19,793       15,547       4,245  

Administrative Expenses

     29,653       29,164       489  

Depreciation and Amortization

     12,121       14,098       (1,977 ) 

Taxes and Dues

     3,549       4,331       (782 ) 

Provision of Allowance for Doubtful Accounts

     58       4       53  

Other

     1,881       1,692       189  
 

 

 

    

 

 

    

 

 

  

Operating Income

     18,262       64,034       (45,771 ) 
 

 

 

    

 

 

    

 

 

  

Non-Operating Income

     2,120       2,700       (579 ) 

Non-Operating Expenses

     101       440       (338 ) 
 

 

 

    

 

 

    

 

 

  

Ordinary Income

     20,282       66,294       (46,012 ) 
 

 

 

    

 

 

    

 

 

  

Extraordinary Gain

     4,088       1,068       3,019  
 

 

 

    

 

 

    

 

 

  

Extraordinary Loss

     11,771       3,813       7,958  
 

 

 

    

 

 

    

 

 

  

Income before Income Taxes

     12,598       63,549       (50,950 ) 

Income Taxes:

      

Current

     970       8,992       (8,022 ) 

Deferred

     (10,601 )      (1,110 )      (9,490 ) 
 

 

 

    

 

 

    

 

 

  

Net Income

   ¥ 22,229     ¥ 55,666     ¥ (33,436 ) 
 

 

 

    

 

 

    

 

 

  

 

2-19