Cover Page
Cover Page | 6 Months Ended |
Sep. 30, 2020 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | MIZUHO FINANCIAL GROUP INC |
Entity Central Index Key | 0001335730 |
Current Fiscal Year End Date | --03-31 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Assets: | |||
Cash and due from banks | ¥ 1,648,974 | ¥ 2,325,139 | |
Interest-bearing deposits in other banks | 41,588,074 | 39,625,975 | |
Call loans and funds sold | 534,345 | 1,006,991 | |
Receivables under resale agreements | 12,666,088 | 18,580,919 | |
Receivables under securities borrowing transactions | 2,185,575 | 2,216,059 | |
Trading account assets | 29,467,045 | 28,092,871 | |
Investments (Note 3): | |||
Available-for-sale securities (including assets pledged that secured parties are permitted to sell or repledge of ¥1,036,534 million at March 31, 2020 and ¥1,542,200 million at September 30, 2020), net of allowance | 26,546,800 | 19,112,952 | |
Held-to-maturity securities (including assets pledged that secured parties are permitted to sell or repledge of ¥297,240 million at March 31, 2020 and ¥308,448 million at September 30, 2020) | [1],[2] | 789,978 | 862,031 |
Equity securities (including assets pledged that secured parties are permitted to sell or repledge of ¥92,806 million at September 30,2020) | 3,501,678 | 3,256,717 | |
Other investments | 467,963 | 443,951 | |
Loans (Notes 4 and 5) | 90,475,747 | 87,528,088 | |
Allowance for credit losses on loans | (622,526) | (440,855) | |
Loans, net of allowance | 89,853,221 | 87,087,233 | |
Premises and equipment—net | 1,800,234 | 1,856,248 | |
Due from customers on acceptances | 181,435 | 167,764 | |
Accrued income | 284,667 | 323,632 | |
Goodwill | 92,695 | 92,997 | |
Intangible assets | 60,377 | 64,689 | |
Deferred tax assets | 61,233 | 136,713 | |
Other assets (Note 6) | 5,864,238 | 5,965,879 | |
Total assets | 217,594,620 | 211,218,760 | |
Liabilities and equity: | |||
Noninterest-bearing deposits | 28,974,310 | 28,109,943 | |
Interest-bearing deposits | 90,386,518 | 86,651,036 | |
Noninterest-bearing deposits | 1,960,284 | 2,186,203 | |
Interest-bearing deposits | 27,946,322 | 28,001,485 | |
Due to trust accounts | 563,543 | 249,737 | |
Call money and funds purchased | 1,903,686 | 2,263,076 | |
Payables under repurchase agreements (Note 19) | 19,326,143 | 17,970,662 | |
Payables under securities lending transactions (Note 19) | 1,475,850 | 1,423,638 | |
Other short-term borrowings | 7,526,025 | 4,914,485 | |
Trading account liabilities | 10,590,312 | 12,416,785 | |
Bank acceptances outstanding | 181,435 | 167,764 | |
Income taxes payable | 55,659 | 68,557 | |
Deferred tax liabilities | 36,967 | 25,874 | |
Accrued expenses | 178,849 | 249,344 | |
Long-term debt | 11,049,044 | 10,346,152 | |
Other liabilities (Note 6) | 6,299,620 | 6,998,395 | |
Total | 208,454,567 | 202,043,136 | |
Commitments and contingencies (Note 14) | |||
MHFG shareholders' equity: | |||
Common stock (Note 7)-no par value, authorized 4,800,000,000 shares at March 31, 2020 and September 30, 2020, and issued 2,539,249,894 shares at March 31, 2020 and September 30, 2020 | 5,826,427 | 5,827,500 | |
Retained earnings | 2,796,736 | 2,700,774 | |
Accumulated other comprehensive income(loss), net of tax (Note 8) | 133,837 | (9,494) | |
Less: Treasury stock, at cost-Common stock 3,210,681 shares at March 31, 2020, and 3,868,308 shares at September 30, 2020 | (7,024) | (6,415) | |
Total MHFG shareholders' equity | 8,749,976 | 8,512,365 | |
Noncontrolling interests | 390,077 | 663,259 | |
Total equity | 9,140,053 | 9,175,624 | |
Total liabilities and equity | 217,594,620 | 211,218,760 | |
Consolidated VIEs | |||
Assets: | |||
Cash and due from banks | 1,592 | 8,749 | |
Interest-bearing deposits in other banks | 74,205 | 61,439 | |
Call loans and funds sold | 291,078 | 422,304 | |
Trading account assets | 2,386,317 | 2,438,607 | |
Investments (Note 3): | |||
Investments | 80,226 | 62,262 | |
Loans, net of allowance | 7,682,432 | 2,285,831 | |
Other assets (Note 6) | 519,169 | 535,954 | |
Total assets | 11,035,019 | 5,815,146 | |
Liabilities and equity: | |||
Payables under securities lending transactions (Note 19) | 57,257 | 138,094 | |
Other short-term borrowings | 43,440 | 60,086 | |
Trading account liabilities | 24,317 | 34,205 | |
Long-term debt | 540,123 | 330,863 | |
Other liabilities (Note 6) | 911,992 | 948,715 | |
Total | ¥ 1,577,129 | ¥ 1,511,963 | |
[1] | Accrued interest receivables are excluded from amortized cost, of which the amount was ¥4,153 million at September 30, 2020 and included in Accrued income. | ||
[2] | Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale securities was ¥7,551 million at September 30, 2020. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Trading account assets, assets pledged that secured parties are permitted to sell or repledge | ¥ 7,696,203 | ¥ 4,978,497 |
Available-for-sale securities, assets pledged that secured parties are permitted to sell or repledge | 1,542,200 | 1,036,534 |
Held-to-maturity securities, assets pledged that secured parties are permitted to sell or repledge | 308,448 | 297,240 |
Long-term debt, liabilities accounted for at fair value | ¥ 2,802,428 | ¥ 2,537,082 |
Common stock, par value | ¥ 0 | ¥ 0 |
Common stock, authorized | 4,800,000,000 | 4,800,000,000 |
Common stock, issued | 2,539,249,894 | 2,539,249,894 |
Treasury stock, shares | 3,868,308 | 3,210,681 |
Equity securities, assets pledged that secured parties are permitted to sell or repledge | ¥ 92,806 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Interest and dividend income: | |||
Loans, including fees | ¥ 541,675 | ¥ 719,443 | |
Investments: | |||
Interest | 31,236 | 52,249 | |
Dividends | 24,875 | 36,109 | |
Trading account assets | 127,785 | 108,881 | |
Call loans and funds sold | 1,270 | 2,963 | |
Receivables under resale agreements and securities borrowing transactions | 22,894 | 150,728 | |
Deposits in other banks | 22,111 | 56,981 | |
Total interest and dividend income | 771,846 | 1,127,354 | |
Interest expense: | |||
Deposits | 110,839 | 335,290 | |
Trading account liabilities | 28,208 | 28,794 | |
Call money and funds purchased | 1,282 | 4,771 | |
Payables under repurchase agreements and securities lending transactions | 33,267 | 197,410 | |
Other short-term borrowings | 11,988 | 15,855 | |
Long-term debt | 85,593 | 98,502 | |
Total interest expense | 271,177 | 680,622 | |
Net interest income | 500,669 | 446,732 | |
Provision (credit) for credit losses (Notes 3 and 5) | 60,633 | 13,773 | |
Net interest income after provision (credit) for credit losses | 440,036 | 432,959 | |
Noninterest income (Note 16): | |||
Fee and commission income | 428,317 | 403,992 | |
Foreign exchange gains (losses)—net | [1] | 22,785 | 27,923 |
Trading account gains (losses)—net | [2] | 257,591 | 395,405 |
Investment gains (losses)—net: | |||
Debt securities | [1] | 46 | 31,092 |
Equity securities | [1] | 266,119 | (126,648) |
Equity in earnings (losses) of equity method investees—net | [1] | 5,788 | 22,066 |
Gains on disposal of premises and equipment | [1] | 6,849 | 1,693 |
Other noninterest income | [2],[3] | 23,715 | 34,839 |
Total noninterest income | 1,011,210 | 790,362 | |
Noninterest expenses: | |||
Salaries and employee benefits | 346,150 | 334,041 | |
General and administrative expenses | 299,350 | 314,840 | |
Occupancy expenses | 93,314 | 103,693 | |
Fee and commission expenses | 93,016 | 101,175 | |
Provision (credit) for credit losses on off-balance-sheet instruments | (7,391) | (8,248) | |
Other noninterest expenses | 78,966 | 67,364 | |
Total noninterest expenses | 903,405 | 912,865 | |
Income before income tax expense | 547,841 | 310,456 | |
Income tax expense (Note 11) | 137,761 | 83,120 | |
Net income | [4] | 410,080 | 227,336 |
Less: Net income attributable to noncontrolling interests | 94,194 | 14,352 | |
Net income attributable to MHFG shareholders | ¥ 315,886 | ¥ 212,984 | |
Earnings per common share (Note 10): | |||
Basic net income per common share | ¥ 124.50 | ¥ 83.96 | |
Diluted net income per common share | [5] | 124.49 | 83.95 |
Dividends per common share | ¥ 37.50 | ¥ 37.50 | |
[1] | These amounts are revenues from contracts that do not meet the scope of ASC 606. | ||
[2] | Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606. | ||
[3] | These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details. | ||
[4] | The amounts that have been reclassified out of Accumulated other comprehensive income (loss), net of tax into net income are presented in Note 8 “Accumulated other comprehensive income (loss), net of tax”. | ||
[5] | For the six months ended September 30, 2020, the performance-based plan under the stock compensation programs could potentially dilute earnings per common share but were not included in the computation of diluted earnings per common share due to their antidilutive effects. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Net income | [1] | ¥ 410,080 | ¥ 227,336 |
Other comprehensive income (loss), net of tax | 142,550 | (56,583) | |
Total comprehensive income | 552,630 | 170,753 | |
Less: Total comprehensive income attributable to noncontrolling interests | 93,413 | 14,023 | |
Total comprehensive income attributable to MHFG shareholders | ¥ 459,217 | ¥ 156,730 | |
[1] | The amounts that have been reclassified out of Accumulated other comprehensive income (loss), net of tax into net income are presented in Note 8 “Accumulated other comprehensive income (loss), net of tax”. |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - JPY (¥) ¥ in Millions | Total | Common Stock | Retained Earnings | Retained EarningsCumulative effect of change in accounting principles | Retained EarningsCumulative effect, period of adoption, adjusted balance | Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss)Cumulative effect of change in accounting principles | Accumulated other comprehensive income (loss)Cumulative effect, period of adoption, adjusted balance | Treasury Stock | Parent | Noncontrolling Interest | |
Balance at beginning of period at Mar. 31, 2019 | ¥ 5,829,657 | ¥ 2,740,545 | ¥ 1,052 | ¥ 2,741,597 | ¥ 164,021 | ¥ (1,052) | [1] | ¥ 162,969 | ¥ (7,704) | ¥ 774,974 | ||
Purchases of treasury stock | (1,851) | |||||||||||
Performance-based stock compensation program | (806) | |||||||||||
Disposal of treasury stock | 2,745 | |||||||||||
Net income attributable to MHFG shareholders | ¥ 212,984 | 212,984 | ||||||||||
Change during period | (56,583) | (56,254) | ||||||||||
Other | (896) | (611) | ||||||||||
Transactions between the MHFG Group and the noncontrolling interest shareholders | (79,439) | |||||||||||
Dividends paid to noncontrolling interests | (9,618) | |||||||||||
Dividends declared | (95,197) | |||||||||||
Net income attributable to noncontrolling interests | (14,352) | 14,352 | ||||||||||
Other | (329) | |||||||||||
Balance at end of fiscal year at Sep. 30, 2019 | 9,486,573 | 5,827,955 | 2,858,773 | 106,715 | (6,810) | ¥ 8,786,633 | 699,940 | |||||
Balance at beginning of period at Mar. 31, 2020 | 9,175,624 | 5,827,500 | 2,700,774 | ¥ (124,636) | ¥ 2,576,138 | (9,494) | ¥ 0 | ¥ (9,494) | (6,415) | 663,259 | ||
Purchases of treasury stock | (1,995) | |||||||||||
Performance-based stock compensation program | (553) | |||||||||||
Disposal of treasury stock | 1,386 | |||||||||||
Net income attributable to MHFG shareholders | 315,886 | 315,886 | ||||||||||
Change during period | 142,550 | 143,331 | ||||||||||
Other | (520) | (80) | ||||||||||
Transactions between the MHFG Group and the noncontrolling interest shareholders | (356,311) | |||||||||||
Dividends paid to noncontrolling interests | (10,284) | |||||||||||
Dividends declared | (95,208) | |||||||||||
Net income attributable to noncontrolling interests | (94,194) | 94,194 | ||||||||||
Other | (781) | |||||||||||
Balance at end of fiscal year at Sep. 30, 2020 | ¥ 9,140,053 | ¥ 5,826,427 | ¥ 2,796,736 | ¥ 133,837 | ¥ (7,024) | ¥ 8,749,976 | ¥ 390,077 | |||||
[1] | The MHFG Group adopted ASU No.2017-12, “Derivatives and Hedging (Topic 815)—Targeted Improvements to Accounting for Hedging Activities” (“ASU No.2017-12”) on April 1, 2019 and the ASU No.2017-12 eliminated the separate measurement and reporting of hedge ineffectiveness. Cumulative-effect adjustment to the consolidated balance sheets was recognized upon adoption. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Cash flows from operating activities: | |||
Net income | [1] | ¥ 410,080 | ¥ 227,336 |
Less: Net income attributable to noncontrolling interests | 94,194 | 14,352 | |
Net income attributable to MHFG shareholders | 315,886 | 212,984 | |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 115,614 | 120,369 | |
Provision (credit) for credit losses | 60,633 | 13,773 | |
Investment losses (gains)—net | (266,165) | 95,556 | |
Equity in losses (earnings) of equity method investees—net | [2] | (5,788) | (22,066) |
Foreign exchange losses (gains)—net | (92,865) | (172,215) | |
Deferred income tax expense (benefit) | 57,807 | (5,317) | |
Net change in trading account assets | (1,784,129) | (3,753,226) | |
Net change in trading account liabilities | (1,874,766) | 2,138,290 | |
Net change in loans held for sale | 18,781 | 17,427 | |
Net change in accrued income | 34,404 | 24,548 | |
Net change in accrued expenses | (80,875) | (5,248) | |
Other—net | (159,507) | 122,946 | |
Net cash used in operating activities | (3,660,970) | (1,212,179) | |
Cash flows from investing activities: | |||
Proceeds from sales of Available-for-sale securities | 13,363,620 | 15,661,178 | |
Proceeds from sales of Equity securities | [3] | 1,413,300 | 1,177,962 |
Proceeds from maturities of Available-for-sale securities | 12,719,308 | 8,454,526 | |
Proceeds from maturities of Held-to-maturity securities | 60,947 | 525,912 | |
Purchases of Available-for-sale securities | (33,753,387) | (24,330,083) | |
Purchases of Equity securities | [3] | (1,383,195) | (1,209,953) |
Proceeds from sales of loans | 832,515 | 878,108 | |
Net change in loans | (3,944,882) | (3,054,528) | |
Net change in call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 6,141,641 | (2,127,069) | |
Proceeds from sales of premises and equipment | 12,856 | 8,748 | |
Purchases of premises and equipment | (73,768) | (81,427) | |
Proceeds from sales of investments in subsidiaries (affecting the scope of consolidation) | 25,190 | ||
Net cash used in investing activities | (4,585,855) | (4,096,626) | |
Cash flows from financing activities: | |||
Net change in deposits | 4,513,597 | 2,848,039 | |
Net change in call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 1,490,083 | 2,549,230 | |
Net change in due to trust accounts | 313,806 | 7,619 | |
Net change in other short-term borrowings | 2,628,438 | (358,650) | |
Proceeds from issuance of long-term debt | 1,270,809 | 1,223,618 | |
Repayment of long-term debt | (515,802) | (2,195,976) | |
Proceeds from noncontrolling interests | 73,688 | 33,009 | |
Payments to noncontrolling interests | (3,859) | (105,424) | |
Proceeds from sales of treasury stock | 839 | 1,515 | |
Purchases of treasury stock | (1,503) | (1,436) | |
Purchases of treasury stock of subsidiaries | (5,414) | ||
Dividends paid | (95,242) | (95,165) | |
Dividends paid to noncontrolling interests | (10,284) | (9,618) | |
Net cash provided by financing activities | 9,659,156 | 3,896,761 | |
Effect of exchange rate changes on cash and cash equivalents | (126,397) | (279,689) | |
Net increase (decrease) in cash and cash equivalents | [4] | 1,285,934 | (1,691,733) |
Cash and cash equivalents at beginning of period | [4] | 41,951,114 | 45,672,739 |
Cash and cash equivalents at end of period | [4] | 43,237,048 | 43,981,006 |
Noncash investing activities: | |||
Transfer of loans into loans held-for-sale | ¥ 11,399 | ¥ 64,996 | |
[1] | The amounts that have been reclassified out of Accumulated other comprehensive income (loss), net of tax into net income are presented in Note 8 “Accumulated other comprehensive income (loss), net of tax”. | ||
[2] | These amounts are revenues from contracts that do not meet the scope of ASC 606. | ||
[3] | Proceeds from sales of Equity securities as well as Purchases of Equity securities include cash activity related to Other investments for the six months ended September 30 2019 and 2020, the amounts of which are not significant. | ||
[4] | Cash and cash equivalents consists of Cash and due from banks and Interest-bearing deposits in other banks. Cash deposited with central banks that must be maintained to meet minimum regulatory requirements is classified as restricted cash and included in Cash and cash equivalents. |
Basis of presentation
Basis of presentation | 6 Months Ended |
Sep. 30, 2020 | |
Basis of presentation | 1. Basis of presentation Mizuho Financial Group, Inc. (“MHFG”) is a joint stock corporation with limited liability under the laws of Japan. MHFG is a holding company for Mizuho Bank, Ltd. (“MHBK”), Mizuho Trust & Banking Co., Ltd. (“MHTB”), Mizuho Securities Co., Ltd. (“MHSC”), Asset Management One Co., Ltd. (“Asset Management One”), and other subsidiaries. MHFG, through its subsidiaries (“the MHFG Group,” or “the Group”), provides domestic and international financial services in Japan and other countries. For a discussion of the Group’s segment information, see Note 20 “Business segment information.” MHFG and its domestic subsidiaries as well as its foreign subsidiaries maintain their accounting records in accordance with the accounting standards of Japan and those standards of the countries in which they are domiciled. Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform them to the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are stated in Japanese yen, the currency of the country in which MHFG is incorporated and principally operates. The accompanying consolidated financial statements include the accounts of MHFG and its subsidiaries. MHFG’s interim financial reporting period ends on September 30. Certain of MHFG’s subsidiaries have different interim financial reporting periods than September 30. For those subsidiaries with interim financial reporting periods within three months of MHFG’s interim financial reporting period, the effect of intervening events that materially affect the financial position or results of operations through the date of each of the periods presented in the MHFG’s consolidated financial statements have been considered for adjustment and/or disclosure. When determining whether to consolidate investee entities, the MHFG Group performs an analysis of the facts and circumstances of the particular relationships between the MHFG Group and the investee entities as well as the ownership of voting shares. The consolidated financial statements also include the accounts of VIEs for which MHFG or its subsidiaries have been determined to be the primary beneficiary in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”). All significant intercompany transactions and balances have been eliminated upon consolidation. The MHFG Group accounts for investments in entities over which it has significant influence by using the equity method of accounting. These investments are included in Other investments and the Group’s proportionate share of income or loss is included in Equity in earnings (losses) of equity method investees-net. On June 25, 2020, a 1-for-10 share consolidation was approved at the Ordinary General Meeting of Shareholders and it became effective on October 1, 2020. All share and per share information with respect to MHFG’s common stock and preferred stock have been restated to reflect the effect of the share consolidation and related amendments to the articles of incorporation for all periods presented. See Equity on the consolidated balance sheets, Earnings per common share and Dividends per share on the consolidated statements of income, Note 7 “Preferred and common stock,” and Note 10 “Earnings per common share” for the restated figures. In addition, certain other comparative amounts for the prior period have been reclassified in order to conform to the current period’s presentation. The unaudited consolidated financial statements should be read in conjunction with the audited financial statements and related notes thereto included in the annual financial statements for the fiscal year ended March 31, 2020. Certain financial information that is normally included in annual financial statements prepared in accordance with U.S. GAAP, but is not required for interim reporting purposes, has been condensed or omitted. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and related disclosures. Specific areas, among others, requiring the application of management’s estimates and judgment include assumptions pertaining to the allowance for credit losses, valuation of deferred tax assets, valuation of derivative financial instruments, valuation of investments and valuation of pension and other employee benefits. During times of pandemics and dislocated markets, such as COVID-19, Financial instruments—current expected credit losses (“CECL”) The adoption of this guidance established a single allowance framework for all financial assets measured at amortized cost and certain off-balance-sheet instrument exposures. This framework requires management’s estimate to reflect credit losses over the instrument’s remaining expected lives and consider expected future changes in macroeconomic conditions. The following note and Note 2 “Issued accounting pronouncements,” Note 3 “Investments,” Note 4 “Loans” and Note 5 “Allowance for credit losses on loans” provide further information about the impact that the adoption of ASC 326, “Financial Instruments - Credit Losses” (“ASC 326”) had on the MHFG Group. Allowance for credit losses on loans Effective April 1, 2020, the allowance for credit losses on loans is established for current expected credit losses on the MHFG Group’s loan portfolio in accordance with ASC 326. Prior to April 1, 2020, the allowance for credit losses on loans was established based on an incurred loss model in accordance with ASC 310, “Receivables” (“ASC 310”) and ASC 450, “Contingencies” (“ASC 450”). The MHFG Group makes adjustments to the allowance for credit losses on loans through Provision (credit) for credit losses in the consolidated statements of income in each subsequent reporting period. Loan principal that management judges to be uncollectible, based on detailed loan reviews and a credit quality assessment, is charged off against the allowance for credit losses on loans. In general, the Group charges off loans when the Group determines that the obligor should be classified as substantially bankrupt or bankrupt. See Note 4 “Loans” for the definitions of obligor categories. Obligors in the retail portfolio segment are generally determined to be substantially bankrupt when they are past due for more than six months, and as for obligors in the corporate portfolio segment, the Group separately monitors the credit quality of each obligor without using time-based triggers. The Group does not record expected credit losses for accrued interest receivables because uncollectible accrued interest is reversed through interest income in a timely manner in line with the Group’s nonaccrual and past due policies for loans. The MHFG Group maintains an appropriate allowance for credit losses on loans to represent management’s estimate of the expected credit losses in the Group’s loan portfolio. The management evaluates the appropriateness of the allowance for credit losses on loans semi-annually. The allowance considers expected credit losses over the remaining expected lives of the applicable instruments. The expected life of each instrument is determined by considering expected prepayments, contractual terms and cancellation features. When determining expected credit losses, a single forward-looking macroeconomic scenario is considered over a reasonable and supportable forecast period. This forward-looking macroeconomic scenario is based on the Group’s stress testing and in line with the scenario used for the Group’s business plan. If the scenario does not reflect a sudden change in economic conditions adequately, it could be possible to make adjustments to the scenario. After the forecast period, the Group reverts to long-term historical loss experience with a certain graduated transition period, to estimate losses over the remaining lives. The macroeconomic scenario is updated at least semi-annually and is reviewed accordingly to reflect current economic conditions and the Group’s expectation of future conditions on a timely basis. For April 1, 2020 and September 30, 2020, the Group used the most recent macroeconomic scenario available during the Group’s credit loss estimation process. In terms of the internal risk ratings, for the corporate portfolio segment, the credit quality review process and the credit rating process serve as the basis for determining the allowance for credit losses on loans. Through such processes loans are categorized into groups to reflect the probability of default, whereby the MHFG Group’s management assesses the ability of borrowers to service their debt, taking into consideration current financial information, ability to generate cash, historical payment experience, analysis of relevant industry segments and current trends. For the retail portfolio segment, the different categories of past due status of loans are primarily utilized in the credit quality review and the credit rating processes as the basis for determining the allowance for credit losses on loans. In general, the MHFG Group estimates expected credit losses collectively on the loans in the case of normal and watch obligors, considering the risk associated with a particular pool and the probability that the exposures within the pool will deteriorate or default. The allowance for credit losses on nonaccrual loans includes the allowance for groups of loans which were collectively evaluated for expected credit losses, in addition to the allowance for those loans that were individually evaluated for expected credit losses. See The estimation of expected credit losses that are evaluated collectively begins with a quantitative calculation that considers the likelihood of the borrower changing delinquency status or moving from one obligor category or rating to another. The quantitative calculation covers expected credit losses over an instrument’s expected life and is estimated by applying credit loss factors to the MHFG Group’s estimated exposure at default. The credit loss factors incorporate the probability of default as well as the loss given default based on the historical loss rates and the external ratings such as S&P. The model and inputs used to determine credit losses on loans that are evaluated collectively are analyzed on a periodic basis by comparing the estimated values with the actual results subsequent to the balance sheet date. The MHFG Group divides its overall portfolio into domestic and foreign portfolios, and categorizes the domestic portfolio into four portfolio segments according to their risk profiles: corporate, retail, sovereign, and banks and financial institutions. The corporate portfolio segment consists of loans originated primarily by MHBK and MHTB, and includes mainly business loans such as those used for working capital and capital expenditure, as well as loans for which the primary source of repayment of the obligation is income generated by the relevant assets such as project finance, asset finance and real estate finance. The corporate portfolio segment is divided into two classes based on their risk characteristics: large companies, and small and medium-sized The retail portfolio segment consists mainly of residential mortgage loans originated by MHBK, and it is divided into two classes based on their risk characteristics: housing loan and others. For the retail portfolio segment, the Japanese unemployment rate is applied as a key factor. As it pertains to troubled debt restructuring (“TDR”) loans in the retail portfolio segment, which are subject to collective evaluation for expected credit losses, the restructuring itself, as well as subsequent payment defaults, if any, are considered in determining obligor categories. Expected credit loss estimates also include consideration of expected cash recoveries on loans previously charged-off, or expected recoveries on collateral dependent loans where recovery is expected through sale of the collateral. The allowance recorded for individually evaluated loans is based on (1) the present value of expected future cash flows, after considering the restructuring effect and subsequent payment default with respect to TDRs, discounted at the loan’s initial effective interest rate, or (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. The collateral that the MHFG Group obtains for loans consists primarily of real estate. In obtaining the collateral, the Group evaluates the fair value of the collateral and its legal enforceability. The Group also performs subsequent re-evaluations at least once a year. As it pertains to real estate collateral, valuation is generally performed by an appraising subsidiary which is independent from the Group’s loan origination departments by using generally accepted valuation techniques such as (1) the replacement cost approach, (2) the sales comparison approach or (3) the income approach. In the case of large real estate collateral, the Group generally engages third-party appraisers to perform the valuation. The MHFG Group’s methodology for determining the appropriate allowance for credit losses on loans also considers the imprecision inherent in the methodologies used. As a result, the amounts determined under the methodologies described above could be adjusted by management to consider the potential impact of other qualitative factors which include, but are not limited to , Allowance for credit losses on off-balance-sheet The MHFG Group maintains the allowance for credit losses on off-balance-sheet off-balance-sheet off-balance-sheet Allowance for credit losses on available-for-sale The MHFG Group performs periodic reviews to identify impaired securities in accordance with ASC 326. Available-for-sale securities are impaired if the fair value is less than the amortized cost (excluding accrued interest receivable). For available-for-sale available-for-sale available-for-sale is recognized immediately through earnings. In other cases, the Group evaluates expected cash flows to be received and determines if a credit loss exists, and if so, the amount of the credit loss is recognized in Provision (credit) for credit losses, while the remaining decline in fair value is recognized in other comprehensive income, net of applicable taxes. The Group generally does not record an allowance for credit losses for accrued interest receivables related to available-for-sale securities because these receivables are reversed through interest income, consistent with the Group’s past due policies. For additional information, see Note 4 “Loans.” Before the adoption of ASC 326, the previous other-than-temporary impairment model was applied for available-for-sale |
Issued accounting pronouncement
Issued accounting pronouncements | 6 Months Ended |
Sep. 30, 2020 | |
Issued accounting pronouncements | 2. Issued accounting pronouncements Adopted accounting pronouncements In June 2016, the FASB issued ASU No.2016-13, No.2016-13”). No.2019-04, No.2019-04”). No.2019-05, No.2019-05”). No.2019-11, No.2019-11”). No.2016-13, available-for-sale No.2016-13, 2019-04, 2019-05, 2019-11 allowance COVID-19. available-for-sale The following table reconciles the closing allowance for loans and off-balance-sheet the opening allowance determined with ASC 326 at April 1, 2020: At March 31, 2020 ASC 310/450 Transition Adjustment At April 1, 2020 ASC 326 (in billions of yen) Loans: Corporate 413 78 491 Retail 28 78 106 Off-balance-sheet 46 20 66 For additional information, see Note 3 “Investments,” Note 4 “Loans” and Note 5 “Allowance for credit losses on loans.” In August 2018, the FASB issued ASU No.2018-13, “Fair Value Measurement (Topic 820)—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU No.2018-13”). The ASU modifies the disclosure requirements for fair value measurements in order to improve the effectiveness of the notes to financial statements. The amendments require additional disclosure on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty. The MHFG Group adopted ASU No.2018-13 on April 1, 2020. Certain of the requirements are applied prospectively, and other amendments are applied retrospectively. The adoption of ASU No.2018-13 did not have a material impact on disclosures in the Group’s consolidated financial statements. In August 2018, the FASB issued ASU No.2018-14, 715-20)—Disclosure No.2018-14”). No.2018-14 No.2018-14 In October 2018, the FASB issued ASU No.2018-17, No.2018-17”). No.2018-17 No.2018-17 In March 2020, the FASB issued ASU No.2020-04, No.2020-04”). |
Investments
Investments | 6 Months Ended |
Sep. 30, 2020 | |
Investments | 3. Investments Available-for-sale held-to-maturity The amortized cost, net of allowance for credit losses, gross unrealized gains and losses, and fair value of available-for-sale and held-to-maturity securities at March 31, 2020 and September 30, 2020 are as follows: Amortized (5)(6) Gross unrealized gains Gross unrealized losses Fair value (in millions of yen) March 31, 2020 Available-for-sale Debt securities: Japanese government bonds 12,651,677 1,319 50,224 12,602,772 Japanese local government bonds 272,412 649 494 272,567 U.S. Treasury bonds and federal agency securities 927,172 7,733 — 934,905 Other foreign government bonds 1,408,009 3,273 202 1,411,080 Agency mortgage-backed securities (1) 494,958 10,490 434 505,014 Residential mortgage-backed securities 83,077 1,405 151 84,331 Commercial mortgage-backed securities 609,559 5,551 106 615,004 Japanese corporate bonds and other debt securities (2) 1,836,540 7,489 8,772 1,835,257 Foreign corporate bonds and other debt securities (3) 849,595 2,595 168 852,022 Total 19,132,999 40,504 60,551 19,112,952 Held-to-maturity Debt securities: Japanese government bonds 479,936 13,357 — 493,293 Agency mortgage-backed securities (4) 382,095 1,245 1,303 382,037 Total 862,031 14,602 1,303 875,330 September 30, 2020 Available-for-sale Debt securities: Japanese government bonds 19,964,553 1,084 45,274 19,920,363 Japanese local government bonds 406,873 757 446 407,184 U.S. Treasury bonds and federal agency securities 625,398 1,388 2 626,784 Other foreign government bonds 1,353,376 3,020 74 1,356,322 Agency mortgage-backed securities (1) 509,808 10,650 433 520,025 Residential mortgage-backed securities 78,883 1,220 123 79,980 Commercial mortgage-backed securities 634,537 6,674 69 641,142 Japanese corporate bonds and other debt securities (2) 2,066,234 12,579 8,785 2,070,028 Foreign corporate bonds and other debt securities (3) 922,752 3,410 1,190 924,972 Total 26,562,414 40,782 56,396 26,546,800 Held-to-maturity Debt securities: Japanese government bonds 479,947 11,505 — 491,452 Agency mortgage-backed securities (4) 310,031 10,666 — 320,697 Total 789,978 22,171 — 812,149 Notes: (1) Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥504,953 million and ¥61 million, respectively, at March 31, 2020, and ¥ 519,974 51 (2) Other debt securities presented in this line primarily consist of Japanese asset-backed securities (“ABS”), of which the total fair values was million at September 30, 2020. (3) Other debt securities presented in this line primarily consist of Foreign negotiable certificates of deposit (“NCDs”) and ABS, of which the total fair values were ¥271,387 million at March 31, 2020, and ¥319,044 million at September 30, 2020. (4) All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. (5) Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale (6) Accrued interest receivables are excluded from amortized cost, of which the amount was million at September 30, 2020 and included in Acc rued income. The amortized cost, net of allowance for credit losses, and fair value available-for-sale held-to-maturity Amortized cost Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Total (in millions of yen) Available-for-sale Debt securities: Japanese government bonds 14,588,119 3,630,141 1,550,745 195,548 19,964,553 Japanese local government bonds 30,537 209,317 149,994 17,025 406,873 U.S. Treasury bonds and federal agency securities 625,398 — — — 625,398 Other foreign government bonds 1,024,723 326,539 1,058 1,056 1,353,376 Agency mortgage-backed securities — — — 509,808 509,808 Residential mortgage-backed securities — — — 78,883 78,883 Commercial mortgage-backed securities 6,080 252,315 375,342 800 634,537 Japanese corporate bonds and other debt securities 94,088 820,338 587,344 564,464 2,066,234 Foreign corporate bonds and other debt securities 453,235 343,496 123,123 2,898 922,752 Total 16,822,180 5,582,146 2,787,606 1,370,482 26,562,414 Held-to-maturity Debt securities: Japanese government bonds — 479,947 — — 479,947 Agency mortgage-backed securities — — — 310,031 310,031 Total — 479,947 — 310,031 789,978 Fair value Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Total (in millions of yen) Available-for-sale Debt securities: Japanese government bonds 14,586,652 3,619,928 1,522,868 190,915 19,920,363 Japanese local government bonds 30,553 209,557 149,982 17,092 407,184 U.S. Treasury bonds and federal agency securities 626,784 — — — 626,784 Other foreign government bonds 1,025,928 328,280 1,058 1,056 1,356,322 Agency mortgage-backed securities — — — 520,025 520,025 Residential mortgage-backed securities — — — 79,980 79,980 Commercial mortgage-backed securities 6,085 254,025 380,219 813 641,142 Japanese corporate bonds and other debt securities 94,089 819,848 585,922 570,169 2,070,028 Foreign corporate bonds and other debt securities 454,356 344,474 123,244 2,898 924,972 Total 16,824,447 5,576,112 2,763,293 1,382,948 26,546,800 Held-to-maturity Debt securities: Japanese government bonds — 491,452 — — 491,452 Agency mortgage-backed securities — — — 320,697 320,697 Total — 491,452 — 320,697 812,149 Credit losses The other-than-temporary impairment losses on available-for-sale securities for the six months ended September 30, 2019 were not significant. No impairment losses were recognized on held-to-maturity securities for the period. As a result of the adoption of the ASU No.2016-13, 2019-04, 2019-05 and 2019-11, no material allowance for credit losses on available-for-sale securities were recognized at April 1, 2020. The MHFG Group recognized billion of allowance for credit losses on available-for-sale securities at September 30, 2020. The increase was due mainly to an increase of credit losses for certain Japanese corporate bonds and other debt securities. allowance for credit losses were recognized on held-to-maturity securities at April 1, 2020 and September 30, 2020, respectively because held-to-maturity securities consist of Japanese government bond and agency mortgage-backed securities like Ginnie Mae securities. See Note 1 “Basis of presentation” for further details of the methodology used to determine the allowance for credit losses. Continuous unrealized loss position The following table shows the gross unrealized losses and fair value of available-for-sale held-to-maturity Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (in millions of yen) March 31, 2020 Available-for-sale Debt securities: Japanese government bonds 10,339,320 43,204 283,561 7,020 10,622,881 50,224 Japanese local government bonds 162,665 418 34,114 76 196,779 494 U.S. Treasury bonds and federal agency securities — — — — — — Other foreign government bonds 196,990 202 — — 196,990 202 Agency mortgage-backed securities (1) 30,913 227 9,504 207 40,417 434 Residential mortgage-backed securities 9,524 62 5,450 89 14,974 151 Commercial mortgage-backed securities 15,115 85 7,478 21 22,593 106 Japanese corporate bonds and other debt securities 669,572 5,507 608,361 3,265 1,277,933 8,772 Foreign corporate bonds and other debt securities 152,058 165 5,564 3 157,622 168 Total 11,576,157 49,870 954,032 10,681 12,530,189 60,551 Held-to-maturity Debt securities: Agency mortgage-backed securities (2) — — 191,244 1,303 191,244 1,303 Total — — 191,244 1,303 191,244 1,303 September 30, 2020 Available-for-sale Debt securities: Japanese government bonds 9,978,136 23,884 1,234,118 21,390 11,212,254 45,274 Japanese local government bonds 126,991 246 72,086 200 199,077 446 U.S. Treasury bonds and federal agency securities 29,093 2 — — 29,093 2 Other foreign government bonds 278,022 74 — — 278,022 74 Agency mortgage-backed securities (1) 30,948 202 9,799 231 40,747 433 Residential mortgage-backed securities 9,567 41 6,794 82 16,361 123 Commercial mortgage-backed securities 6,052 15 11,396 54 17,448 69 Japanese corporate bonds and other debt securities 565,278 3,028 597,714 5,757 1,162,992 8,785 Foreign corporate bonds and other debt securities 245,311 1,187 2,712 3 248,023 1,190 Total 11,269,398 28,679 1,934,619 27,717 13,204,017 56,396 Held-to-maturity Debt securities: Agency mortgage-backed securities (2) — — — — — — Total — — — — — — Notes: (1) Agency mortgage-backed securities presented in this line consist of Japanese agency mortgage-backed securities, of which the fair values were ¥40,417 million at March 31, 2020, and ¥40,747 million at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. At September 30, 2020, the MHFG Group did not intend to sell the debt securities in an unrealized loss position and it was not more likely than not that the MHFG Group would be required to sell them before the recovery of their amortized cost bases. For Japanese government bonds and Agency mortgage-backed securities, their entire amortized cost bases were expected to be recovered since the unrealized losses had not resulted from credit deterioration, but primarily from changes in interest rates. For the debt securities other than those described above, except for the securities for which credit losses have been recognized in income, the MHFG Group determined that their entire amortized cost bases were expected to be recovered, after considering various factors such as the extent to which their fair values were below their amortized cost bases, the external and/or internal ratings and the present values of cash flows expected to be collected. Based on the aforementioned evaluation, except for the securities for which credit losses have been recognized in income, the MHFG Group determined that the debt securities in an unrealized loss position were not considered credit losses. Realized gains and losses The following table shows the realized gains and losses on sales of available-for-sale Six months ended September 30, 2019 2020 (in millions of yen) Gross realized gains 36,183 5,101 Gross realized losses (6,167 ) (3,694 ) Net realized gains (losses) on sales of available-for-sale 30,016 1,407 Equity securities Equity securities include securities which have readily determinable fair values, securities which qualify for the practical expedient to estimate fair value using the net asset value per share (or its equivalent), and securities which are without readily determinable fair values. Equity securities which have readily determinable fair values mainly consist of common stock of Japanese listed companies. Equity securities without readily determinable fair values include non-marketable Net gains and losses The following table shows the details of the net gains and losses on Equity securities for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 2020 (in millions of yen) Net gains (losses) recognized during the period on equity securities (126,648 ) 266,119 Less: Net gains (losses) recognized during the period on equity securities sold during the period (3,084 ) 34,985 Unrealized gains (losses) recognized during the reporting period on equity securities still held at the (123,564 ) 231,134 Equity securities without readily determinable fair values The following table shows carrying amounts of equity securities without readily determinable fair values, for which the measurement alternative is used, and cumulative amounts due to downward adjustments and impairments and upward adjustments, at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Carrying amounts at the end of the period 419,775 402,194 Downward adjustments and impairments 2,435 3,800 Upward adjustments 9,128 9,104 The following table shows amounts recognized in earnings during the period due to downward adjustments and impairments and upward adjustments for equity securities without readily determinable fair values. Six months ended September 30, 2019 2020 (in millions of yen) Downward adjustments and impairments 430 1,411 Upward adjustments 6,527 34 The MHFG Group elected to measure all equity securities without readily determinable fair values, which do not qualify for the practical expedient to estimate fair value, using the measurement alternative, which is made on an instrument-by-instrument Other investments The following table summarizes the composition of Other investments at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Equity method investments 404,513 412,281 Investments held by consolidated investment companies 39,438 55,682 Total 443,951 467,963 Equity method investments Investments in investees over which the MHFG Group has the ability to exert significant influence are accounted for using the equity method of accounting. Such investments included marketable equity securities with carrying values of ¥213,243 million and ¥215,059 million, at March 31, 2020 and September 30, 2020, respectively. The aggregate market values of these marketable equity securities were ¥287,488 million and ¥344,131 million, respectively. The majority of the aggregate market values of these marketable equity securities include Orient Corporation, the Chiba Kogyo Bank, Ltd., Joint Stock Commercial Bank for Foreign Trade of Vietnam and Mizuho Leasing Company, Limited of which the MHFG Group’s proportionate share of the total outstanding common stock were 49.00%, 16.89%, 15.00% and 23.52%, respectively, as of September 30, 2020. In addition, equity method investments include non-marketable equity securities such as Matthews International Capital Management, LLC and Custody Bank of Japan, Ltd. of which the MHFG Group’s proportionate share of the total outstanding common stock were Investments held by consolidated investment companies The MHFG Group consolidates certain investment companies over which it has control through either ownership or other means. Investment companies are subject to specialized industry accounting which requires investments to be carried at fair value, with changes in fair value recorded in earnings. The MHFG Group maintains this specialized industry accounting for investments held by consolidated investment companies, which consist of marketable and non-marketable |
Loans
Loans | 6 Months Ended |
Sep. 30, 2020 | |
Loans | 4. Loans The table below presents loans outstanding by domicile and industry of borrower at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Domestic: Manufacturing 9,731,028 11,700,375 Construction and real estate 9,603,433 10,172,843 Services 5,992,511 6,294,310 Wholesale and retail 5,219,727 5,415,605 Transportation and communications 3,832,884 3,978,708 Banks and other financial institutions 4,634,442 4,719,863 Government and public institutions 2,198,805 2,639,956 Other industries (Note) 5,389,347 5,517,220 Individuals: Mortgage loans 8,567,099 8,357,042 Other 861,235 798,475 Total domestic 56,030,511 59,594,397 Foreign: Commercial and industrial 20,818,709 20,190,048 Banks and other financial institutions 10,475,277 10,502,326 Government and public institutions 317,284 308,171 Other 35,388 37,572 Total foreign 31,646,658 31,038,117 Total 87,677,169 90,632,514 Less: Unearned income and deferred loan fees—net 149,081 156,767 Total loans before allowance for credit losses on loans 87,528,088 90,475,747 Note: Other industries of domestic includes trade receivables and lease receivables of consolidated VIEs. Loans are generally carried at the principal amount adjusted for unearned income and deferred net nonrefundable loan fees and costs. Loan origination fees, net of certain direct origination costs, are deferred and recognized over the contractual life of the loan as an adjustment of yield using a method that approximates the interest method. Interest income on performing loans is accrued and credited to income as it is earned. Unearned income and discounts or premiums on purchased loans are deferred and recognized over the life of the loan using a method that approximates the interest method. Net losses on sales of loans were ¥179 million and ¥1,178 million, including unrealized losses related to recording loans held for sale at the lower of cost or fair value for the six months ended September 30, 2019 and 2020, respectively. The gains and losses on sales of loans are recorded in Other noninterest income and expenses, respectively. Credit quality information In accordance with the MHFG Group’s credit risk management policies, the Group uses an internal rating system that consists of credit ratings for the corporate portfolio segment and pool allocations for the retail portfolio segment as the basis of its risk management infrastructure. Credit ratings consist of obligor ratings which represent the level of credit risk of the obligor, and transaction ratings which represent the ultimate possibility of losses expected on individual loans by taking into consideration various factors such as collateral or guarantees involved. In principle, obligor ratings are applied to all obligors except those to which pool allocations are applied, and are subject to regular review at least once a year as well as special review which is required whenever the obligor’s credit standing changes. Pool allocations are applied to small loans that are less than a specified amount by pooling customers and loans with similar risk characteristics, and the risk is assessed mainly based on past due status and managed according to such pools. The Group generally reviews the appropriateness and effectiveness of the approach to obligor ratings and pool allocations once a year in accordance with predetermined policies and procedures. See Note 3 “Investments” for the credit losses related to held-to-maturity available-for-sale The Group does not record expected credit losses reversed interest rued income. The table below presents credit quality information of loans MHFG Obligor category (1)(2) Obligor rating Definition Normal A Obligors whose certainty of debt fulfillment is very high, hence their level of credit risk is very low. B Obligors whose certainty of debt fulfillment poses no problems for the foreseeable future, and their level of credit risk is low. C Obligors whose certainty of debt fulfillment and their level of credit risk pose no problems for the foreseeable future. D Obligors whose current certainty of debt fulfillment poses no problems, however, their resistance to future economic environmental changes is low. Watch E1 Obligors that require observation going forward because of either minor concerns regarding their financial position, or their somewhat weak or unstable business conditions. E2 Obligors that require special observation going forward because of problems with their borrowings such as reduced or suspended interest payments, problems with debt fulfillment such as failure to make principal or interest payments, or problems with their financial position as a result of their weak or unstable business conditions. Intensive control F Obligors that are not yet bankrupt but are in financial difficulties and are deemed likely to become bankrupt in the future because of insufficient progress in implementing their management improvement plans or other measures (including obligors that are receiving ongoing support from financial institutions). Substantially bankrupt G Obligors that have not yet become legally or formally bankrupt but are substantially insolvent because they are in serious financial difficulties and are deemed to be incapable of being restructured. Bankrupt H Obligors that have become legally or formally bankrupt. Notes: (1) Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered nonaccrual. (2) The Group classifies loans to special attention, intensive control, substantially bankrupt and bankrupt obligors as nonaccrual loans. September 30, 2020 March 31, 2020 Term loans by origination year Revolving Total Total 2020 2019 2018 2017 2016 Prior to 2016 (in millions of yen) Domestic: Corporate: Large companies: Normal obligors 9,754,935 7,343,964 7,517,546 2,710,108 2,498,507 2,978,989 8,279,869 41,083,918 37,979,353 Watch obligors excluding special attention obligors 424,745 92,446 82,206 56,363 33,737 33,847 196,544 919,888 840,289 Nonaccrual loans 142,730 55,771 41,249 20,295 11,956 29,551 136,213 437,765 343,439 Small and medium-sized Normal obligors 381,487 543,822 456,363 260,146 232,638 485,430 502,124 2,862,010 2,941,599 Watch obligors excluding special attention obligors 46,537 32,174 37,116 13,321 15,523 28,933 30,521 204,125 189,075 Nonaccrual 58,754 15,624 4,294 5,900 2,636 9,849 28,118 125,175 119,759 Retail: Housing Loan: Normal obligors 437,780 668,358 627,669 634,528 783,929 4,879,204 — 8,031,468 8,215,781 Watch obligors excluding special attention obligors 560 1,178 1,827 1,579 2,217 43,397 — 50,758 57,478 Nonaccrual 18,941 6,528 1,525 1,432 1,778 38,456 — 68,660 57,696 Others: Normal obligors 327,506 209,899 152,679 106,359 102,735 361,209 523,640 1,784,027 1,783,779 Watch obligors excluding special attention obligors 36,270 17,587 11,754 6,911 4,534 6,846 12,185 96,087 81,463 Nonaccrual 26,633 6,905 1,945 1,000 965 9,532 11,567 58,547 59,782 Sovereign Normal obligors 1,907,424 264,528 126,868 87,021 92,664 485,721 13,700 2,977,926 2,559,420 Watch obligors excluding special attention obligors 2,859 6,914 2,951 1,134 257 34 — 14,149 10,939 Nonaccrual — — — — — — — — — Banks and other financial institutions Normal obligors 15,637 155,415 261,601 26,841 85,303 74,009 187,102 805,908 790,659 Watch obligors excluding special attention obligors — — — — — — — — — Nonaccrual 167 — 180 — — — 1,600 1,947 — Total domestic 13,582,965 9,421,113 9,327,773 3,932,938 3,869,379 9,465,007 9,923,183 59,522,358 56,030,511 Foreign: Corporate: Normal obligors 10,181,936 5,813,342 3,419,918 1,298,791 804,580 1,624,422 4,630,806 27,773,795 28,555,991 Watch obligors excluding special attention obligors 172,225 43,785 47,998 37,862 15,899 35,532 84,646 437,947 336,470 Nonaccrual 41,085 25,405 12,954 5,422 8,448 21,241 43,592 158,147 135,522 Retail: Normal obligors 3,613 9,806 6,008 2,956 1,517 2,527 102 26,529 30,862 Watch obligors excluding special attention obligors 174 1,110 647 361 109 11 — 2,412 858 Nonaccrual 26 506 287 103 44 1 — 967 6 Sovereign Normal obligors 91,542 99,248 32,403 149,794 5,907 90,988 81,008 550,890 558,384 Watch obligors excluding special attention obligors — — — — — 20,124 — 20,124 19,971 Nonaccrual — 741 — — — — — 741 — Banks and other financial institutions Normal obligors 750,039 654,755 421,876 95,375 4,509 3,536 49,997 1,980,087 2,008,516 Watch obligors excluding special attention obligors 912 152 686 — — — — 1,750 78 Nonaccrual — — — — — — — — — Total foreign 11,241,552 6,648,850 3,942,777 1,590,664 841,013 1,798,382 4,890,151 30,953,389 31,646,658 Total 24,824,517 16,069,963 13,270,550 5,523,602 4,710,392 11,263,389 14,813,334 90,475,747 87,677,169 Notes: (1) Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered nonaccrual. (2) The primary component of the retail portfolio segment is housing loans to individuals which obligor category is classified based on past due status. The trigger to reclassify obligors from normal obligors to watch obligors excluding special attention obligors is when the past due status is more than 30 days. (3) There were no significant revolving line of credit arrangements that converted to term loans during the six months ended September 30, 2020. Nonaccrual loans Loans are considered nonaccrual when, based on current information and events, it is probable that the MHFG Group will be unable to collect all the scheduled payments of principal and interest when due according to the contractual terms of the loans. Factors considered by management in determining if a loan is nonaccrual include delinquency status and the ability of the debtor to make payment of the principal and interest when due. The Group classifies loans to special attention, intensive control, substantially bankrupt and bankrupt obligors as nonaccrual loans. Nonaccrual loans include loans past due for 90 days or more and restructured loans that meet the definition of a TDR in accordance with ASC 310. There are no loans that are ninety days past due and still accruing. The Group does not have any loans to borrowers that cause management to have serious doubts as to the ability of such borrowers to comply with the present loan repayment terms for the periods presented other than those already designated as nonaccrual loans. The majority of nonaccrual loans have no contractual delinquency due to interest reductions and/or postponement of principal and interest. In March 2020, the Coronavirus, Aid, Relief, and Economic Security Act (“the CARES Act”) was approved. The CARES Act and U.S. banking agencies have among other items, provided optional, temporary relief related to accounting for certain TDRs. The temporary TDR relief is available to banks for loan modifications related to obligors who were adversely impacted by COVID-19. With regard to nonaccrual loans, interest accruals and the amortization of net origination fees are suspended and capitalized interest is written off. Cash received on nonaccrual loans is accounted for as a reduction of the loan principal if the ultimate collectibility of the principal amount is in doubt, otherwise, as interest income. Loans are not restored to accrual status until interest and principal payments are current and future payments are reasonably assured. Nonaccrual loans are restored to accrual status, when the MHFG Group determines that the borrower poses no concerns regarding current certainty of debt fulfillment. In general, such determination is made if the borrower qualifies for an obligor rating of E2 or above and is not classified as a special attention obligor. With respect to loans restructured in a TDR, in general, such loans are restored to accrual status, when the borrower qualifies for an obligor rating of D or above. The table below presents nonaccrual loans information at March 31, 2020 and September 30, 2020: Amortized cost Nonaccrual loans with an allowance Nonaccrual loans without an allowance Total nonaccrual loans Interest income recognized (in millions of yen) March 31, 2020 Domestic: Corporate: Large companies 333,442 9,997 343,439 4,155 Small and medium-sized 102,786 16,973 119,759 1,724 Retail: Housing Loan 28,263 29,433 57,696 937 Others 36,220 23,562 59,782 846 Total domestic 500,711 79,965 580,676 7,662 Foreign: Total foreign 95,289 40,239 135,528 3,032 Total 596,000 120,204 716,204 10,694 September 30, 2020 Domestic: Corporate: Large companies 416,637 21,128 437,765 2,501 Small and medium-sized 105,556 19,619 125,175 777 Retail: Housing Loan 40,358 28,302 68,660 535 Others 36,270 22,277 58,547 373 Banks and other financial institutions 1,947 — 1,947 3 Total domestic 600,768 91,326 692,094 4,189 Foreign: Total foreign 110,295 49,560 159,855 958 Total 711,063 140,886 851,949 5,147 Notes: (1) Amounts represent the outstanding bal a (2) Amounts represent the amount of interest income on nonaccrual loans recognized on a cash basis and included in Interest income on loans in the consolidated statements of income. (3) The majority of total foreign consist of corporate. The remaining balance of nonaccrual loans that have been partially charged off, was ¥20,378 million and ¥32,783 million as of March 31, 2020 and September 30, 2020 respectively. Troubled debt restructurings The MHFG Group considers a loan modification to be a TDR when, for economic or legal reasons related to the obligor’s financial difficulties, it grants a concession to the obligor that it would not otherwise consider. The Group considers the relevant obligor to be in financial difficulty generally when its obligor rating is E2 or below.The following table presents modified loans that were determined to be TDRs during the six months ended September 30, 2019 and 2020: Loan forgiveness or debt to equity swaps Interest rate reduction and/or postponement of principal and/or Recorded investment (1) Charge-offs (in millions of yen) September 30, 2019 Domestic: Corporate: Large companies 689 3,806 152,373 Small and medium-sized — — 55,344 Retail: Housing Loan — — 3,742 Others — — 7,468 Total domestic 689 3,806 218,927 Foreign: Total foreign 470 4,922 38,646 Total 1,159 8,728 257,573 September 30, 2020 Domestic: Corporate: Large companies — — 264,952 Small and medium-sized — — 54,760 Retail: Housing Loan — — 14,690 Others — — 9,130 Banks and other financial institutions — — 1,600 Total domestic — — 345,132 Foreign: Total foreign — — 80,889 Total — — 426,021 Notes: (1) Amounts represent the b o (2) The majority of total foreign consist of corporate Payment default is deemed to occur when the loan becomes three months past due or the obligor is downgraded to the category of substantially bankrupt or bankrupt. The following table presents payment defaults which occurred during the six months ended September 30, 2019 and 2020 with respect to the loans modified as TDRs within the previous twelve months: Recorded investment September 30, 2019 September 30, 2020 (in millions of yen) Domestic: Corporate: Large companies 5,875 2,084 Small and medium-sized 2,444 3,861 Retail: Housing Loan 686 505 Others 1,349 1,104 Total domestic 10,354 7,554 Foreign: Total foreign 6,436 43,786 Total 16,790 51,340 Age analysis of past due loans The table below presents an analysis of the age of the amortized cost basis in loans that are past due at March 31, 2020 and September 30, 2020: 30-59 days past due 60-89 days past due 90 days or more past due Total past due Current Total (in millions of yen) March 31, 2020 Domestic: Corporate: Large companies 2,146 2,013 38,364 42,523 39,120,558 39,163,081 Small and medium-sized 2,347 894 9,187 12,428 3,238,005 3,250,433 Retail: Housing Loan 15,703 10,078 26,690 52,471 8,278,484 8,330,955 Others 6,179 2,013 15,239 23,431 1,901,593 1,925,024 Sovereign — — — — 2,570,359 2,570,359 Banks and other financial institutions — — — — 790,659 790,659 Total domestic 26,375 14,998 89,480 130,853 55,899,658 56,030,511 Foreign: Total foreign 1,214 181 28,722 30,117 31,616,541 31,646,658 Total 27,589 15,179 118,202 160,970 87,516,199 87,677,169 September 30, 2020 Domestic: Corporate: Large companies 311 269 38,868 39,448 42,402,123 42,441,571 Small and medium-sized 2,093 604 11,226 13,923 3,177,387 3,191,310 Retail: Housing Loan 15,831 7,870 25,922 49,623 8,101,263 8,150,886 Others 4,720 1,436 14,152 20,308 1,918,353 1,938,661 Sovereign — — — — 2,992,075 2,992,075 Banks and other financial institutions — — — — 807,855 807,855 Total domestic 22,955 10,179 90,168 123,302 59,399,056 59,522,358 Foreign: Total foreign 1,826 636 60,535 62,997 30,890,392 30,953,389 Total 24,781 10,815 150,703 186,299 90,289,448 90,475,747 Note: The majority of total foreign consist of corporate . Loans held for sale Loans that have been identified for sale are classified as loans held for sale within Other assets and are accounted for at the lower of cost or fair value. The outstanding balance of loans held for sale was ¥60,084 million and ¥22,404 million at March 31, 2020 and September 30, 2020, respectively. |
Allowance for credit losses on
Allowance for credit losses on loans | 6 Months Ended |
Sep. 30, 2020 | |
Allowance for credit losses on loans | 5. Allowance for credit losses on loans The MHFG Group divides its overall portfolio into domestic and foreign portfolios, and categorizes the domestic portfolio into four portfolio segments according to their risk profiles: corporate, retail, sovereign, and banks and financial institutions. When management estimates current expected credit losses to determine the allowance for credit losses, small balance, homogeneous loans are classified in the retail portfolio segment, and loans other than these are classified in the corporate portfolio segment. The corporate portfolio segment consists of loans originated primarily by MHBK and MHTB, and includes mainly business loans such as those used for working capital and capital expenditure, as well as loans for which the primary source of repayment of the obligation is income generated by the relevant assets such as project finance, asset finance and real estate finance. The corporate portfolio segment also includes loans of subsidiaries other than MHBK and MHTB, such as consolidated VIEs and overseas subsidiaries. The corporate portfolio segment is divided into two classes based on their risk characteristics: large companies, and small and medium-sized on loans and Note 4 “Loans” for further details of obligor ratings and pool allocations. Changes in Allowance for credit losses on loans by portfolio segment for the six months ended September 30, 2019 and 2020 are shown below: Corporate Retail Total (in millions of yen) Six months ended September 30, 2019 Balance at beginning of period 277,955 29,246 307,201 Provision (credit) for credit losses on loans 12,268 1,505 13,773 Charge-offs (25,147 ) (3,887 ) (29,034 ) Recoveries 2,785 1,269 4,054 Net charge-offs (22,362 ) (2,618 ) (24,980 ) Others (Note) (4,570 ) (2 ) (4,572 ) Balance at end of period 263,291 28,131 291,422 Six months ended September 30, 2020 Balance at beginning of period 413,026 27,829 440,855 April 1, 2020 adoption of CECL 77,514 78,241 155,755 Adjusted Balance at beginning of period 490,540 106,070 596,610 Provision (credit) for credit losses on loans 64,133 (11,051 ) 53,082 Charge-offs (28,417 ) (3,446 ) (31,863 ) Recoveries 5,260 479 5,739 Net charge-offs (23,157 ) (2,967 ) (26,124 ) Others (Note) (997 ) (45 ) (1,042 ) Balance at end of period 530,519 92,007 622,526 Note: Others includes primarily foreign exchange translation. |
Other assets and liabilities
Other assets and liabilities | 6 Months Ended |
Sep. 30, 2020 | |
Other assets and liabilities | 6. Other assets and liabilities The following table sets forth the details of other assets and liabilities at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Other assets: Accounts receivable: Receivables from brokers, dealers and customers for securities transactions 783,439 898,924 Other 358,702 416,064 Collateral pledged: Collateral pledged for derivative transactions 1,246,026 1,079,050 Margins provided for futures contracts 602,039 316,791 Other 941,167 909,155 Prepaid pension cost 711,981 986,767 Right-of-use 613,068 586,365 Security deposits 107,294 108,204 Loans held for sale 60,084 22,404 Other 542,079 540,514 Total 5,965,879 5,864,238 Other liabilities: Accounts payable: Payables to brokers, dealers and customers for securities transactions 2,161,075 2,065,408 Other 375,127 365,446 Guaranteed trust principal ( Note 824,431 808,172 Lease liabilities 627,250 600,087 Collateral accepted: Collateral accepted for derivative transactions 846,426 587,426 Margins accepted for futures contracts 797,317 558,138 Unearned income 122,072 120,352 Other 1,244,697 1,194,591 Total 6,998,395 6,299,620 Note: Guaranteed trust principal, included in All other liabilities in the disclosure about consolidated VIEs in the accompanying balance sheets, is a liability of certain consolidated trust arrangements that meet the definition of a VIE for which the MHFG Group provides guarantees for the repayment of principal. See Note 15 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. |
Preferred and common stock
Preferred and common stock | 6 Months Ended |
Sep. 30, 2020 | |
Preferred and common stock | 7. Preferred and common stock Preferred stock The composition of preferred stock at March 31, 2020 and September 30, 2020 is as follows: Class of stock March 31, 2020 September 30, 2020 Authorized Issued Authorized Issued (number of shares) Class XIV preferred stock 90,000,000 — 90,000,000 — Class XV preferred stock 90,000,000 — 90,000,000 — Class XVI preferred stock 150,000,000 — 150,000,000 — Common stock The number of issued shares of common stock at March 31, 2020 and September 30, 2020 was 2,539,249,894. There was no increase or decrease during the six months ended September 30, 2020. |
Accumulated other comprehensive
Accumulated other comprehensive income (loss), net of tax | 6 Months Ended |
Sep. 30, 2020 | |
Accumulated other comprehensive income (loss), net of tax | 8. Accumulated other comprehensive income (loss), net of tax Changes in each component of Accumulated other comprehensive income (loss), net of tax (“AOCI”) for the six months ended September 30, 2019 and 2020 are as follows: Six months ended September 30, 2019 2020 (in millions of yen) AOCI, balance at beginning of period, previously reported 164,021 (9,494 ) Cumulative effect of change in accounting principles (Note) (1,052 ) — AOCI, balance at beginning of period, adjusted 162,969 (9,494 ) Net unrealized gains (losses) on available-for-sale Balance at beginning of period 22,019 (19,592 ) Unrealized holding gains (losses) during period 25,843 644 Less: reclassification adjustments for losses (gains) included in net income (20,824 ) 754 Change during period 5,019 1,398 Balance at end of period 27,038 (18,194 ) Foreign currency translation adjustments: Balance at beginning of period, previously reported (58,558 ) (109,872 ) Cumulative effect of change in accounting principles (Note) (1,052 ) — Balance at beginning of period, adjusted (59,610 ) (109,872 ) Foreign currency translation adjustments during period (63,466 ) (36,652 ) Less: reclassification adjustments for losses (gains) included in net income — (409 ) Change during period (63,466 ) (37,061 ) Balance at end of period (123,076 ) (146,933 ) Pension liability adjustments: Balance at beginning of period 196,446 69,455 Unrealized gains (losses) during period (1,720 ) 190,394 Less: reclassification adjustments for losses (gains) included in net income (2,130 ) 672 Change during period (3,850 ) 191,066 Balance at end of period 192,596 260,521 Own credit risk adjustments: Balance at beginning of period 4,114 50,515 Unrealized gains (losses) during period 7,320 (9,340 ) Less: reclassification adjustments for losses (gains) included in net income (1,277 ) (2,732 ) Change during period 6,043 (12,072 ) Balance at end of period 10,157 38,443 Total other comprehensive income (loss), net of tax attributable to MHFG shareholders (56,254 ) 143,331 AOCI, balance at end of period 106,715 133,837 Note: The MHFG Group adopted ASU No.2017-12, No.2017-12”) No.2017-12 The following table shows the amounts reclassified out of AOCI into net income during the six months ended September 30, 2020: Six months ended September 30, 2020 Before tax (1) Tax effect (2) Net of tax before allocation to noncontrolling interests Net of tax attributable to noncontrolling interests (2) Net of tax attributable to MHFG shareholders (in millions of yen) Amounts reclassified out of AOCI into net income: Affected line items in the Net unrealized gains (losses) on available-for-sale (1,065 ) 306 (759 ) 5 (754 ) Investment gains (losses)-net Provision (credit) for credit Foreign currency translation adjustments 409 — 409 — 409 Foreign exchange gains (losses)-net Pension liability adjustments (1,004 ) 321 (683 ) 11 (672 ) Salaries and employee benefits Own credit risk adjustments 4,111 (1,259 ) 2,852 (120 ) 2,732 Other noninterest income (expenses) Total 2,451 (632 ) 1,819 (104 ) 1,715 Notes: (1) The financial statement li n e (2) The financial statement line items in which the amounts in the Tax effect and the Net of tax attributable to noncontrolling interest columns are reported in the consolidated statements of income are Income tax expense and Net income, respectively. |
Regulatory matters
Regulatory matters | 6 Months Ended |
Sep. 30, 2020 | |
Regulatory matters | 9. Regulatory matters Regulatory capital requirements MHFG, MHBK, and MHTB are subject to regulatory capital requirements administered by the Financial Services Agency in accordance with the provisions of Japan’s Banking Act and related regulations. Certain foreign banking subsidiaries are subject to regulation and control by local supervisory authorities, including central banks. Capital adequacy ratios and leverage ratios of MHFG, MHBK, and MHTB as of March 31, 2020 and September 30, 2020 calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency are set forth in the following table: March 31, 2020 September 30, 2020 Amount Ratio Amount Ratio (in billions of yen, except percentages) Consolidated: MHFG: Common Equity Tier 1 capital: Required (1) 4,978 8.01 5,159 8.01 Actual 7,245 11.65 7,453 11.57 Tier 1 capital: Required (1) 5,910 9.51 6,125 9.51 Actual 9,024 14.52 9,468 14.69 Total risk-based capital: Required (1) 7,152 11.51 7,413 11.51 Actual 10,722 17.25 11,133 17.28 Leverage Ratio: Required 6,629 3.00 5,874 (2) 3.00 Actual 9,024 4.08 9,468 (2) 4.83 MHBK: Common Equity Tier 1 capital: Required 2,567 4.50 2,689 4.50 Actual 6,501 11.39 6,756 11.30 Tier 1 capital: Required 3,422 6.00 3,585 6.00 Actual 8,275 14.50 8,765 14.66 Total risk-based capital: Required 4,563 8.00 4,780 8.00 Actual 9,865 17.29 10,338 17.30 Leverage Ratio: Required 6,160 3.00 5,450 (2) 3.00 Actual 8,275 4.02 8,765 (2) 4.82 MHTB: Common Equity Tier 1 capital: Required 93 4.50 87 4.50 Actual 489 23.64 509 26.24 Tier 1 capital: Required 124 6.00 116 6.00 Actual 489 23.66 509 26.24 Total risk-based capital: Required 165 8.00 155 8.00 Actual 491 23.74 510 26.27 Leverage Ratio: Required 216 3.00 156 (2) 3.00 Actual 489 6.79 509 (2) 9.79 March 31, 2020 September 30, 2020 Amount Ratio Amount Ratio (in billions of yen, except percentages) Non-consolidated: MHBK: Common Equity Tier 1 capital: Required 2,403 4.50 2,525 4.50 Actual 6,130 11.47 6,369 11.34 Tier 1 capital: Required 3,204 6.00 3,367 6.00 Actual 7,905 14.80 8,381 14.93 Total risk-based capital: Required 4,272 8.00 4,489 8.00 Actual 9,482 17.75 9,943 17.71 Leverage Ratio: Required 5,884 3.00 5,178 (2) 3.00 Actual 7,905 4.03 8,381 (2) 4.85 MHTB: Common Equity Tier 1 capital: Required 93 4.50 87 4.50 Actual 475 23.10 494 25.49 Tier 1 capital: Required 123 6.00 116 6.00 Actual 475 23.10 494 25.49 Total risk-based capital: Required 165 8.00 155 8.00 Actual 477 23.18 494 25.52 Leverage Ratio: Required 214 3.00 153 (2) 3.00 Actual 475 6.66 494 (2) 9.66 Notes: (1) The required ratios disclosed above, at March 31, 2020 and September 30, 2020, include the capital conservation buffer of 2.5%, the countercyclical capital buffer of 0.01%, and the additional loss absorbency requirements for global systemically important banks (“G-SIBs”) (“D-SIBs”) (2) The required and actual amounts disclosed above at September 30, 2020 exclude amounts of deposits to the Bank of Japan. MHFG’s securities subsidiary in Japan is also subject to the capital adequacy requirement under Japan’s Financial Instruments and Exchange Act. Failure to maintain a minimum capital ratio will trigger mandatory regulatory actions. Management believes, as of each latest balance sheet date, that MHFG, MHBK, MHTB, and their securities subsidiary in Japan and foreign banking subsidiaries were in compliance with all capital adequacy requirements to which they were subject. |
Earnings per common share
Earnings per common share | 6 Months Ended |
Sep. 30, 2020 | |
Earnings per common share | 10. Earnings per common share Basic earnings per common share are computed by dividing net income attributable to MHFG common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect all dilutive potential common shares such as stock options. The following table sets forth the computation of basic and diluted earnings per common share for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 2020 (in millions of yen) Net income: Net income attributable to MHFG common shareholders 212,984 315,886 Effect of dilutive securities — — Net income attributable to common shareholders after assumed conversions 212,984 315,886 Six months ended September 30, 2019 2020 (thousands of shares) Shares: Weighted average common shares outstanding 2,536,800 2,537,272 Effect of dilutive securities: Stock options and the common shares of MHFG under the stock compensation programs (Note) 209 93 Weighted average common shares after assumed conversions 2,537,009 2,537,365 Six months ended September 30, 2019 2020 (in yen) Earnings per common share: Basic net income per common share 83.96 124.50 Diluted net income per common share (Note) 83.95 124.49 Note: For the six months ended September 30, 2020, the performance-based plan under the stock compensation programs could potentially dilute earnings per common share but were not included in the computation of diluted earnings per common share due to their antidilutive effects. |
Income taxes
Income taxes | 6 Months Ended |
Sep. 30, 2020 | |
Income taxes | 11. Income taxes The following table presents the components of Income tax expense for the six months ended September 30, 2019 and 2020: Six months ended 2019 2020 (in millions of yen) Current tax expense 88,437 79,954 Deferred tax expense (benefit) (5,317 ) 57,807 Total income tax expense 83,120 137,761 The preceding table does not reflect the tax effects of items recorded directly in Equity for the six months ended September 30, 2019 and 2020. The detailed amounts recorded directly in Equity are as follows: Six months ended 2019 2020 (in millions of yen) Net unrealized gains (losses) on available-for-sale Unrealized gains (losses) 11,023 579 Less: reclassification adjustments (9,192 ) 306 Total 1,831 885 Pension liability adjustments: Unrealized gains (losses) (643 ) 83,994 Less: reclassification adjustments (937 ) 321 Total (1,580 ) 84,315 Own credit risk adjustments: Unrealized gains (losses) (43 ) (2,351 ) Less: reclassification adjustments (588 ) (1,259 ) Total (631 ) (3,610 ) Total tax effect before allocation to noncontrolling interests (380 ) 81,590 The statutory tax rates were both 30.62% as of September 30, 2019 and 2020. The effective tax rates, 26.77% and 25.15% for the six months ended September 30, 2019 and 2020, respectively, differed from the statutory tax rates. The difference of the tax rates for the six months ended September 30, 2019 was immaterial. The difference of the tax rates for the six months ended September 30, 2020 resulted mainly from the effect of noncontrolling interest income At September 30, 2020, the MHFG Group had net operating loss carryforwards totaling ¥623 billion. The total amount of unrecognized tax benefits was ¥4,382 million at September 30, 2020, which would, if recognized, affect the Group’s effective tax rate. The Group classifies interest and penalties accrued relating to unrecognized tax benefits as Income tax expense. A portion of unrecognized tax benefits at March 31, 2020 was resolved in the six months period ended September 30, 2020 , for also |
Pension and other employee bene
Pension and other employee benefit plans | 6 Months Ended |
Sep. 30, 2020 | |
Pension and other employee benefit plans | 12. Pension and other employee benefit plans The following table summarizes the components of net periodic benefit cost of the severance indemnities and pension plans of the MHFG Group for the six months ended September 30, 2019 and 2020: Six months ended 2019 2020 (in millions of yen) Service cost-benefits earned during the period 22,729 22,695 Interest costs on projected benefit obligations 2,666 2,931 Expected return on plan assets (20,158 ) (20,073 ) Amortization of prior service cost (benefits) 19 205 Amortization of net actuarial loss (gain) (3,064 ) 836 Special termination benefits 2,188 4,981 Net periodic benefit cost 4,380 11,575 In September 2020, based on various approvals, MHFG and certain domestic subsidiaries communicated to their employees an amendment to the defined benefit pension plans that was effective as of October 1, 2020. In accordance with ASC 715, “Compensation—Retirement Benefits” (“ASC 715”), any change in projected benefit obligations due to a plan amendment is required to be recognized as prior service benefits (cost) as of the amendment date. Accordingly, the MHFG Group recognized ¥73,998 million of prior service benefits for the six months ended September 30, 2020. The total contribution of approximately ¥41 billion is expected to be paid to the pension plans during the fiscal year ending March 31, 2021. The amount has been changed from which previously disclosed in the consolidated financial statements for the fiscal year ended March 31, 2020, in order to reflect the amendment to the pension plans which is effective as of October 1, 2020. For the six months ended September 30, 2020, the total contribution of ¥25 billion has been paid to the pension plans. The additional contribution of ¥16 billion is expected to be paid during the remainder of the fiscal year ending March 31, 2021. |
Derivative financial instrument
Derivative financial instruments | 6 Months Ended |
Sep. 30, 2020 | |
Derivative financial instruments | 13. Derivative financial instruments The MHFG Group enters into derivative financial instruments in response to the diverse needs of customers, to manage the risk related to the assets and liabilities of the Group, as part of its asset and liability management, and for proprietary trading purposes. The Group is exposed primarily to market risk associated with interest rate, commodity, foreign currency, and equity products. Market risk arises from changes in market prices or indices, interest rates and foreign exchange rates that may result in an adverse change in the market value of the financial instrument or an increase in its funding costs. Exposure to market risk is managed by imposing position limits and monitoring procedures and by initiating hedging transactions. In addition to market risk, the Group is exposed to credit risk associated with counterparty default or nonperformance in respect of transactions. Counterparty credit risk arises when a counterparty fails to perform according to the terms and conditions of the contract and the value of the underlying collateral held, if applicable, is not sufficient to recover resulting losses. The exposure to counterparty credit risk is measured by the fair value of all derivatives and its potential exposure at the balance sheet dates. The exposure to counterparty credit risk is managed by entering into legally enforceable master netting agreements to mitigate the overall counterparty credit risk, requiring underlying collateral and guarantees based on an individual credit analysis of each obligor and evaluating the credit features of each instrument. In addition, credit approvals, limits and monitoring procedures are also imposed. Notional and fair value amounts of derivative instruments The following table summarizes the notional and fair value amounts of derivative instruments outstanding as of March 31, 2020 and September 30, 2020. The fair values of derivatives are presented on a gross basis, derivative receivables and payables are not offset. In addition, they are not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under master netting agreements in the consolidated balance sheets, or the table below. Fair value Derivative receivables (2) Derivative payables (2) March 31, 2020 Notional amount (1) Designated as hedges Not designated as hedges Designated as hedges Not designated as hedges (in billions of yen) Interest rate contracts 1,123,546 — 7,232 — 6,788 Foreign exchange contracts 185,359 — 2,926 — 2,899 Equity-related contracts 6,684 — 310 — 266 Credit-related contracts 4,676 — 30 — 29 Other contracts 400 — 38 — 39 Total 1,320,665 — 10,536 — 10,021 Fair value Derivative receivables (2) Derivative payables (2) September 30, 2020 Notional amount (1) Designated as hedges Not designated as hedges Designated as hedges Not designated as hedges (in billions of yen) Interest rate contracts 1,084,971 — 6,135 — 5,728 Foreign exchange contracts 174,856 — 2,143 — 2,160 Equity-related contracts 7,012 — 397 — 260 Credit-related contracts 7,742 — 55 — 77 Other contracts 397 — 28 — 26 Total 1,274,978 — 8,758 — 8,251 Notes: (1) Notional amount includes the sum of gross long and gross short third-party contracts. (2) Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. The MHFG Group provided and/or accepted cash collateral for derivative transactions under master netting agreements. The cash collateral, which was not offset against derivative positions, was included in Other assets and Other liabilities, respectively, of which the amounts were ¥1,246 billion and ¥846 billion at March 31, 2020, and ¥1,079 billion and ¥587 billion at September 30, 2020, respectively. Hedging activities In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged. Each derivative must be designated as a hedge, with documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and how effectiveness is to be assessed prospectively and retrospectively. The extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly. The MHFG Group’s hedging activities include fair value and net investment hedges. Net investment hedges The MHFG Group uses forward foreign exchange contracts and foreign currency-denominated debt instruments to protect the value of net investments in non-Japanese The following table summarizes gains and losses information related to net investment hedges for the six months ended September 30, 2019 and 2020: Gains (losses) recorded in other for six months ended September 30, 2019 2020 (in millions of yen) Financial instruments hedging foreign exchange risk (1,044 ) 1,538 Total (1,044 ) 1,538 Note: Related to the net investment hedges, gains (losses) of ¥(260) million and ¥(1,312) million were reclassified Derivative instruments not designated The MHFG Group enters into the following derivative transactions that do not qualify for hedge accounting with a view to implementing risk management strategies: (1) interest-rate swap transactions for the purpose of economically managing the interest-rate risks in deposits, loans etc., (2) currency swap transactions for the purpose of economically managing the foreign exchange risk of these assets, and (3) credit derivatives for the purpose of economically managing the credit risk in loans, residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), collateralized loan obligations (“CLO”) and other similar assets. Such derivatives are accounted for as trading positions. The changes in fair value of these instruments are primarily recorded in Trading account gains (losses)—net, even though they are used to mitigate or transform the risk of exposures arising from banking activities. The net gains (losses) resulting from changes in the fair value of certain credit derivatives where the Group purchases protection to mitigate its credit risk exposure, related to its corporate loan portfolio, is recorded in Other noninterest income (expenses). The following table summarizes gains and losses on derivatives not designated or qualifying as hedges during the six months ended September 30, 2019 and 2020: Gains (losses) recorded in income for six months ended September 30, 2019 2020 (in millions of yen) Interest rate contracts 210,909 32,791 Foreign exchange contracts (30,736 ) 26,277 Equity-related contracts (1) (494 ) (31,999 ) Credit-related contracts (2) (3,546 ) (29,219 ) Other contracts (1,650 ) 26,692 Total 174,483 24,542 Notes: (1) The net gains (losses) excluded from the assessment of the effectiveness of fair value hedges is not included (2) Amounts include the net gains (losses) of ¥(426) million and ¥(1,221) million on the credit derivatives economically managing the credit risk of loans during the six months ended September 30, 2019 and 2020, respectively. Credit derivatives A credit derivative is a bilateral contract between a seller and a buyer of protection against the credit risk of a particular entity. Credit derivatives generally require that the seller of credit protection make payments to the buyer upon the occurrence of predefined credit events, which include bankruptcy, dissolution or insolvency of the referenced entity. The MHFG Group either purchases or writes protection on either a single name or a portfolio of reference credits. The Group enters into credit derivatives to help mitigate credit risk in its corporate loan portfolio and other cash positions, to take proprietary trading positions, and to facilitate client transactions. The notional amount of credit derivatives represents the maximum potential amount of future payments the seller could be required to make. If the predefined credit event occurs, the seller will generally have a right to collect on the underlying reference credit and the related cash flows, while being liable for the full notional amount of credit protection to the buyer. The Group manages credit risk associated with written protection by purchasing protection with identical or similar underlying reference credits, which substantially offsets its exposure. Thus, the notional amount is not necessarily a reliable indicator of the Group’s actual loss exposure. The following table summarizes the notional and fair value amounts of credit derivatives at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 Notional amount Fair value Notional amount Fair value (in billions of yen) Credit protection written: Investment grade 1,400 (5 ) 2,687 37 Non-investment 416 — 530 8 Total 1,816 (5 ) 3,217 45 Credit protection purchased 3,028 6 4,693 (67 ) Note: The rating scale is based upon either the external ratings or the internal ratings of the underlying reference credit. The lowest investment grade rating is considered to be BBB - non-investment Non-investment The following table shows the maximum potential amount of future payments for credit protection written by expiration period at March 31, 2020 and September 30, 2020: Maximum payout/Notional amount March 31, 2020 September 30, 2020 (in billions of yen) One year or less 270 233 After one year through five years 1,368 2,793 After five years 178 191 Total 1,816 3,217 Note: The maximum potential amount of future payments is the aggregate notional amount of the credit derivatives where the Group wrote the credit protection, and it has not been reduced by the effect of any amounts that the Group may possibly collect on the underlying assets and the related cash flows, nor netted against that of credit protection purchased. Credit-related contingent features Certain of the MHFG Group’s derivative instruments contain provisions that require the Group’s debt to maintain an investment grade credit rating from the major credit rating agencies. If the Group’s debt credit rating were to fall below investment grade, the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments which are in net liability positions for the Group. The following table shows the quantitative information about derivative instruments with credit-risk-related contingent features at March 31, 2020 and September 30, 2020: March 31, September 30, (in billions of yen) Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions 888 747 Collateral provided to counterparties in the normal course of business 818 703 Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered 70 44 |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Sep. 30, 2020 | |
Commitments and contingencies | 14. Commitments and contingencies Obligations under guarantees The MHFG Group provides guarantees or indemnifications to counterparties to enhance their credit standing and enable them to complete a variety of business transactions. A guarantee represents an obligation to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing arrangement or other contractual obligation. The Group records all guarantees and similar obligations subject to ASC 460, “Guarantees” (“ASC 460”) at fair value in the consolidated balance sheets at the inception of the guarantee. The table below summarizes the maximum potential amount of future payments by type of guarantee at March 31, 2020 and September 30, 2020. The maximum potential amount of future payments disclosed below represents the contractual amounts that could be required to be repaid in the event of the guarantees being executed, without consideration of possible recoveries under recourse provisions or from collateral held. With respect to written options included in derivative financial instruments in the table below, in theory, the MHFG Group is exposed to unlimited losses; therefore, the table shows the notional amounts of the contracts as a substitute for the maximum exposure. March 31, 2020 September 30, 2020 (in billions of yen) Performance guarantees 2,456 2,527 Guarantees on loans 301 266 Guarantees on securities 110 96 Other guarantees 2,314 2,306 Guarantees for the repayment of trust principal 59 31 Liabilities of trust accounts 446 456 Derivative financial instruments 21,756 21,097 The table below presents the maximum potential amount of future payments of performance guarantees, guarantees on loans, guarantees on securities and other guarantees classified based on internal ratings at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in billions of yen) Investment grade 4,233 4,079 Non-investment 948 1,116 Total 5,181 5,195 Note: Investment grade in the internal rating scale generally corresponds to BBB- Other off-balance-sheet In addition to guarantees, the MHFG Group issues other off-balance-sheet The table below summarizes the contractual amounts with regard to these undrawn commitments at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in billions of yen) Commitments to extend credit (Note) 76,633 86,359 Commercial letters of credit 690 537 Total 77,323 86,896 Note: Commitments to extend credit include commitments to invest in securities. Legal proceedings and investigations The MHFG Group is involved in normal collection proceedings initiated by the Group, other legal proceedings and investigations in the ordinary course of business. In accordance with ASC 450, the Group recognizes a liability for loss contingencies arising from such proceedings and investigations when a loss is probable and the loss amount or the range of the loss can be reasonably estimated. If a loss does not meet this condition but is reasonably possible, the Group does not recognize a liability but discloses the detail of such proceedings and investigations. Based on the information available as of the date of the consolidated financial statements, the Group believes that the outcome of the collection, legal proceedings and investigations will not have a significant adverse effect on the consolidated financial statements. |
Variable interest entities and
Variable interest entities and securitizations | 6 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Variable interest entities and securitizations | 15. Variable interest entities and securitizations Variable interest entities In the normal course of business, the MHFG Group is involved with VIEs primarily through the following types of transactions: asset-backed commercial paper/loan programs, asset-backed securitizations, investments in securitization products, investment funds, trust arrangements, structured finance, and funding vehicles. The Group consolidates certain of these VIEs, where the Group is deemed to be the primary beneficiary because it has both (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The MHFG Group reassesses whether it is the primary beneficiary on an ongoing basis as long as the Group has any continuing involvement with the VIE. There are also other VIEs, where the Group has determined that it is not the primary beneficiary but has significant variable interests. In evaluating the significance of the variable interests, the Group takes into consideration the extent of its involvement with each VIE, such as the seniority of its investments, the share of its holding in each tranche and the variability it expects to absorb, as well as other relevant facts and circumstances. The likelihood of loss is not necessarily relevant to the determination of significance, and therefore, “significant” does not imply that there is high likelihood of loss. The maximum exposure to loss that is discussed in this section refers to the maximum loss that the Group could possibly be required to record in its consolidated statements of income as a result of its involvement with the VIEs. This represents exposures associated with both on-balance-sheet off-balance-sheet The table below shows the consolidated assets of the Group’s consolidated VIEs as well as total assets and maximum exposure to loss for its significant unconsolidated VIEs, in which the Group has determined that its maximum exposure to loss is greater than specific thresholds or meets certain other criteria as of March 31, 2020 and September 30, 2020: Consolidated VIEs Significant unconsolidated VIEs March 31, 2020 Consolidated assets Total assets Maximum exposure to (in billions of yen) Asset-backed commercial paper/loan programs 2,160 — — Asset-backed securitizations 572 77 7 Investments in securitization products 370 — — Investment funds 2,694 2,299 514 Trust arrangements and other 19 — — Total 5,815 2,376 521 Consolidated VIEs Significant unconsolidated VIEs September 30, 2020 Consolidated assets Total assets Maximum exposure to (in billions of yen) Asset-backed commercial paper/loan programs 2,045 — — Asset-backed securitizations 780 77 8 Investments in securitization products 370 — — Investment funds 2,283 2,346 483 Trust arrangements and other 5,557 — — Total 11,035 2,423 491 As of March 31, 2020 and September 30, 2020, the noncontrolling interests in consolidated VIEs amounted to ¥541 billion and ¥ 275 The Group has not provided financial or other support to consolidated or unconsolidated VIEs that the Group was not previously contractually required to provide. The tables below present the carrying amounts and classification of assets and liabilities on the MHFG Group’s balance sheets that relate to its variable interests in significant unconsolidated VIEs, as of March 31, 2020 and September 30, 2020: Assets on balance sheets related to unconsolidated VIEs: March 31, 2020 September 30, 2020 (in billions of yen) Trading account assets 108 113 Investments 267 231 Loans 55 58 Total 430 402 Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: March 31, 2020 September 30, 2020 (in billions of yen) Payables under securities lending transactions 47 48 Trading account liabilities 2 2 Total 49 50 Maximum exposure to loss (Note) 521 491 Note: This represents the maximum amount the Group could possibly be required to record in its consolidated statements of income associated with on-balance-sheet off-balance-sheet In the table above the nature of the Group’s variable interest can take different forms, as described further in the notes below. Additionally the Group’s exposure to the obligations of VIEs is generally limited to its interest in these entities. In certain instances the Group provides undrawn commitments to the VIEs. The Group’s maximum exposure to loss presented in the table above does not include the benefit of offsetting financial instruments that are held to mitigate the risks associated with these variable interests. Furthermore, the Group’s maximum exposure to loss presented in the table above is not reduced by the amount of collateral held as part of the transaction with the VIE or any party to the VIE directly against a specific exposure to loss. Asset-backed commercial paper/loan programs The MHFG Group manages several asset-backed commercial paper/loan programs that provide its clients with off-balance-sheet Asset-backed securitizations The MHFG Group acts as an arranger of various types of structured finance schemes to meet its clients’ needs for off- balance In addition, the MHFG Group establishes several single-issue and multi-issue special purpose entities that issue collateralized debt obligations (“CDO”) or CLO, synthetic CDO/CLO or other repackaged instruments to meet clients’ and investors’ financial needs. The MHFG Group also arranges securitization transactions including CMBS, RMBS and others. In these transactions, the MHFG Group acts as an underwriter, placement agent, asset manager, derivatives counterparty, and/or investor in debt and equity instruments. In these cases, the MHFG Group consider that these variable interests are not significant as the MHFG Group does not have material balance sheet or off-balance tax-exempt Investments in securitization products The MHFG Group invests in, among other things, various types of CDO/CLO, synthetic CDO/CLO and repackaged instruments, CMBS and RMBS arranged by third parties for the purpose of generating current income or capital appreciation, which all utilize entities that are deemed to be VIEs. By design, such investments were investment grade at issuance and held by a diverse group of investors. The potential loss amounts of the securities and the loans are generally limited to the amounts invested because the Group has no contractual involvement in such VIEs beyond its investments. Since the Group is involved in these VIEs only as an investor, the Group does not ordinarily have the power to direct the VIEs’ activities that most significantly impact the VIEs’ economic performance. Similar to the criteria noted in the asset-backed securitization section, the Group views this investment activity to be “significant” when it has a large investment share and/or provides loans to the VIEs. The Group consolidates VIEs, where the transactions are tailored by the third party arrangers to meet the Group’s needs as a main investor, who is ultimately deemed to have the power to determine which assets are to be held by the VIEs. The Group also invests in certain beneficial interests issued by VIEs which hold real estate that the Group utilizes. In addition to these variable interests, when the Group has the power including the sole unilateral ability to liquidate the VIEs, the Group consolidates such VIEs. Investment funds The MHFG Group invests in various investment funds, including securities investment trusts, which collectively invest in equity and debt securities that include listed Japanese securities and investment grade bonds. Investment advisory companies or fund management companies, including the Group’s subsidiaries and affiliates, administer and make investment decisions about such investment funds. The Group considers that it is a “significant” variable interest when the Group’s investment share is greater than threshold. The Group consolidates certain investment funds where it is deemed to be the primary beneficiary. The Group determines whether it is the primary beneficiary by evaluating whether it has both (1) the power to make investment decisions about the investment funds and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the investment funds. The Group consolidates certain investment funds where it is deemed to be the primary beneficiary. Trust arrangements The MHFG Group offers a variety of asset management and administration services under trust arrangements including security investment trusts, pension trusts and trusts used in the securitization of assets originated by and transferred to third parties. The Group receives trust fees for providing services as an agent or fiduciary on behalf of beneficiaries. In these cases, the MHFG Group considers that these variable interests are not significant other than specific involvements such as the following; With respect to guaranteed principal money trust products, the MHFG Group assumes certain risks by providing guarantees for the repayment of principal as required by the trust agreements or relevant Japanese legislation. The MHFG Group manages entrusted funds primarily through the origination of high quality loans and other credit-related products, investing in investment grade marketable securities such as Japanese government bonds and placing cash with the MHFG Group’s subsidiary trust banks. The Group has the power to determine which assets will be held by the VIEs or to manage these assets. In addition, through the principal guarantee agreements, the Group has the obligation to absorb losses that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. However, the MHFG Group does not consolidate certain guaranteed principal money trusts, which invest all the entrusted funds in the MHFG Group itself, as the Group has determined that it has no variable interests. See Note 14 “Commitments and contingencies” for the balances of guaranteed trust principal that are not consolidated at March 31, 2020 and September 30, 2020. With respect to non-guaranteed non-guaranteed The MHFG Group has established a trust in August 2020 , which holds the Group’s housing loans and in turn issues beneficiary interests to the Group, as a result from Special Funds-Supplying Operations implemented by the Bank of Japan to facilitate financing in response to COVID-19. Special purpose entities created for structured finance The MHFG Group is involved in real estate, commercial aircraft and other vessel and machinery and equipment financing to VIEs and financing in securitized receivable. As the Group typically only provides senior financing with credit enhanced by subordinated interests and may sometimes act as an interest rate swap counterparty, the Group has determined that it does not have the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance, or it does not have significant variable interests. Therefore, the Group does not consolidate such VIEs. Funding Vehicles The MHFG Group has established several wholly-owned off-shore 317 Securitization The MHFG Group engages in securitization activities and securitizes mortgage loans, other loans, government and corporate securities and other types of financial assets in the normal course of business. In these securitization transactions, the Group records the transfer of a financial asset as a sale when all the accounting criteria for a sale under ASC 860, “Transfers and Servicing” (“ASC860”) are met. These criteria are (1) the transferred financial assets are legally isolated from the Group’s creditors, (2) the transferee or beneficial interest holder has the right to pledge or exchange the transferred financial assets, and (3) the Group does not maintain effective control over the transferred financial assets. If all the criteria are not met, the transfer is accounted for as a secured borrowing. For the six months ended September 30, 2019 and 2020, the MHFG Group neither made significant transfers of financial assets nor recognized significant gains or losses in securitization transactions accounted for as sales. The Group did not retain significant interests in securitization transactions accounted for as sales as of March 31, 20 20 There are certain transactions where transfers of financial assets do not qualify for the aforementioned sales criteria and are accounted for as secured borrowings. These transferred assets continue to be carried on the consolidated balance sheets of the MHFG Group. Such assets are associated with securitization transactions and loan participation transactions, which amounted to ¥176 billion and ¥153 billion as of March 31, 2020, and ¥ 174 ¥ 142 |
Noninterest income
Noninterest income | 6 Months Ended |
Sep. 30, 2020 | |
Noninterest income | 16. Noninterest income Details of Noninterest income for t Six months ended September 30, 2019 2020 (in millions of yen) Fee and commission income: Securities-related business (1) 64,498 78,441 Deposits-related business (1) 7,570 7,408 Lending-related business (2)(4) 68,609 79,619 Remittance business (1) 56,075 54,785 Asset management business (1) 48,291 45,948 Trust-related business (1) 56,459 54,425 Agency business (1) 15,152 15,064 Guarantee-related business (3) 13,898 15,560 Fees for other customer services (1) 73,440 77,067 Total Fee and commission income 403,992 428,317 Foreign exchange gains (losses)—net (3) 27,923 22,785 Trading account gains (losses)—net (2) 395,405 257,591 Investment gains (losses)—net: Debt securities (3) 31,092 46 Equity securities (3) (126,648 ) 266,119 Equity in earnings (losses) of equity method investees-net (3) 22,066 5,788 Gains on disposal of premises and equipment (3) 1,693 6,849 Other noninterest income (2)(5) 34,839 23,715 Total 790,362 1,011,210 Notes: (1) These amounts are revenues from contracts within the scope of ASC 606, “Revenue from contracts with customers” (“ASC 606”). (2) Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606. (3) These amounts are revenues from contracts that do not meet the scope of ASC 606. (4) Most of the lending-related fees such as commitment fees and arrangement fees are not within the scope of ASC 606. (5) These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details. Certain Fee and commission income, Trading account gains (losses)-net Fee and commission income For the MHFG Group’s accounting policy for the recognition of Fee and commission income, see Note 1 “Basis of presentation and summary of significant accounting policies” to the consolidated financial statements in the Group’s most recent Form 20-F. Trust-related business fees consist of trust fees earned primarily through fiduciary asset management and administrative service and other trust-related fees, which amounted to ¥25 billion and ¥31 billion for the six months ended September 30, 2019, respectively, and ¥25 billion and ¥29 billion for the six months ended September 30, 2020, respectively. Trading account gains (losses)—net and Other noninterest income In addition to Fee and commission income, Trading account gains (losses)-net and Trading account gains (losses)-net. Underwriting Contract balances relating to revenues from contracts with customers subject to ASC 606 Contract assets and receivables from contracts with customers subject to ASC 606 are recognized in Accrued income or accounts receivable of Other assets. As of March 31, 2020 and September 30, 2020, the balance of contract assets was not material. Contract liabilities are recognized in unearned income of Other liabilities. As of March 31, 2020 and September 30, 2020, the balance of contract liabilities was not material. Remaining performance obligations relating to revenues from contracts with customers subject to ASC 606 Remaining performance obligations are services that the MHFG Group has committed to provide in the future in connection with its contracts with customers. As of March 31, 2020 and September 30, 2020, the amount of expected revenues from current obligations to provide services in the future was not material. It excludes revenues from contracts less than one year or contracts that have provisions that allow the Group to recognize revenue at the amount it has the right to invoice. |
Fair value
Fair value | 6 Months Ended |
Sep. 30, 2020 | |
Fair value | 17. Fair value Fair value measurements ASC 820, “Fair Value Measurements” (“ASC 820”), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In addition, ASC 820 precludes (1) the deferral of gains and losses at inception of certain derivative contracts whose fair value was not evidenced by market-observable data, and (2) the use of block discounts when measuring the fair value of instruments traded in an active market, which were previously applied to large holdings of publicly traded financial instruments. Fair value hierarchy ASC 820 specifies a hierarchy of valuatio n Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments. If no quoted market prices are available, the fair values of debt securities and over-the-counter Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Valuation process The MHFG Group has established valuation policies which govern the principles of fair value measurements and the authority and duty of each department. The Group has also established procedure manuals which describe valuation techniques and related inputs for determining the fair values of various financial instruments. The policies require that the measurement of fair values be carried out in accordance with the procedures performed by the risk management departments or the back offices which are independent from the front offices. The policies also require the risk management departments to check and verify whether the valuation methodologies defined in the procedure manuals are fair and proper and the internal audit departments to periodically review the compliance with the procedures throughout the Group. Although the valuation methodologies and related inputs are consistently used from period to period, a change in the market environment sometimes leads to a change in the valuation methodologies and the inputs. For instance, a change in market liquidity due to a delisting or a new listing is one of the key drivers of revisions to the valuation methodologies and the inputs. The key drivers also include the availability or the lack of market observable inputs and the development of new valuation methodologies. Price verification performed through the Group’s internal valuation process has an important role in identifying whether the valuation methodologies and the inputs need to be changed. The internal valuation process over the prices broker-dealers provide, primarily for Japanese securitization products, is described in more detail below in Available-for-sale The following is a description of valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis, including the general classification of such instruments pursuant to the fair value hierarchy and the MHFG Group’s valuation techniques used to measure fair values. During the six months ended September 30, 2020, there were no significant changes made to the Group’s valuation techniques and related inputs. Trading securities and trading securities sold, not yet purchased When quoted prices for identical securities are available in an active market, the Group uses the quoted prices to measure the fair values of securities and such securities are classified in Level 1 of the fair value hierarchy. Level 1 securities include highly liquid government bonds and equity securities. When quoted prices for identical securities are available, but not actively traded, such securities are classified in Level 2 of the fair value hierarchy. When no quoted market prices are available, the Group estimates fair values by using pricing models with inputs that are observable in the market and such securities are classified in Level 2 of the fair value hierarchy. Level 2 securities include Japanese local government bonds, corporate bonds, and commercial paper. When less liquid market conditions exist for securities, the quoted prices are stale or the prices from independent sources vary significantly, such securities are generally classified in Level 3 of the fair value hierarchy. The fair values of securitization products such as RMBS, CMBS, ABS, and CLO are determined primarily by using a discounted cash flow model. The key inputs used for the model include default rates, recovery rates, prepayment rates, and discount rates. In the event that certain key inputs are unobservable or cannot be corroborated by observable market data, these financial instruments are classified in Level 3. Hedge funds the Group invests in are primarily multi strategy funds that employ a fundamental bottom-up start-up ten-year Derivative financial instruments Exchange-traded derivatives are valued using quoted market prices and consequently are classified in Level 1 of the fair value hierarchy. However, the majority of derivatives entered into by the Group are executed over-the-counter over-the-counter severity factors that are developed from market credit spreads a over-the-counter Available-for-sale The fair values of available-for-sale non-binding Equity securities Equity securities mainly consist of marketable equity securities. The fair values of the marketable equity securities are based upon quoted market prices for identical equity securities trading as securities in an active market. Equity securities also include investments in certain investment funds measured using the NAV per share practical expedient including private equity funds and real estate funds. These securities are determined primarily using the same procedures described under Trading securities and trading securities sold, not yet purchased Other investments Other investments consist of investments held by consolidated investment companies. These companies typically hold investments in marketable and non-marketable non-marketable such securities, the Group firstly considers recent market transactions of identical securities, if applicable. Thereafter, the Group uses commonly accepted valuation techniques such as earnings multiples based on comparable public securities. Non-marketable Long-term debt Fair value accounting is elected for certain long-term debt instruments with embedded derivatives. The fair values are determined using a discounted cash flow model that considers the embedded derivatives and the terms and payment structures of the notes. The fair values of the derivatives embedded in such notes are primarily derived by using the same procedures described in Derivative financial instruments Items measured at fair value on a recurring basis Assets and liabilities measured at fair valu e March 31, 2020 Level 1 Level 2 Level 3 Assets/ Liabilities measured at fair value (in billions of yen) Assets: Trading securities (1) Japanese government bonds 1,516 22 — 1,538 Japanese local government bonds — 170 — 170 U.S. Treasury bonds and federal agency securities 4,580 461 — 5,041 Other foreign government bonds 1,128 547 — 1,675 Agency mortgage-backed securities — 3,390 — 3,390 Residential mortgage-backed securities — — 10 10 Certificates of deposit and commercial paper — 1,036 — 1,036 Corporate bonds and other (2) 41 1,398 1,115 2,554 Equity securities 1,000 650 30 1,680 Trading securities measured at net asset value (3) 462 Derivative financial instruments: Interest rate contracts 153 7,070 9 7,232 Foreign exchange contracts 9 2,900 17 2,926 Equity-related contracts 169 125 16 310 Credit-related contracts — 22 8 30 Other contracts 3 11 24 38 Available-for-sale Japanese government bonds 11,950 653 — 12,603 Japanese local government bonds — 273 — 273 U.S. Treasury bonds and federal agency securities 935 — — 935 Other foreign government bonds 436 975 — 1,411 Agency mortgage-backed securities — 505 — 505 Residential mortgage-backed securities — 53 31 84 Commercial mortgage-backed securities — — 615 615 Japanese corporate bonds and other debt securities — 1,678 157 1,835 Foreign corporate bonds and other debt securities — 678 174 852 Equity securities: Equity securities with readily determinable fair values 2,670 95 — 2,765 Equity securities measured at net asset value (3) 72 Other investments — — 39 39 Total assets measured at fair value on a recurring basis 24,590 22,712 2,245 50,081 Liabilities: Trading securities sold, not yet purchased 1,880 515 — 2,395 Derivative financial instruments: Interest rate contracts 163 6,611 14 6,788 Foreign exchange contracts 8 2,890 1 2,899 Equity-related contracts 186 47 33 266 Credit-related contracts — 19 10 29 Other contracts 6 10 23 39 Long-term debt (4) — 1,916 621 2,537 Total liabilities measured at fair value on a recurring basis 2,243 12,008 702 14,953 September 30, 2020 Level 1 Level 2 Level 3 Assets/ Liabilities measured at fair value (in billions of yen) Assets: Trading securities (1) Japanese government bonds 3,257 11 — 3,268 Japanese local government bonds — 138 — 138 U.S. Treasury bonds and federal agency securities 4,963 829 — 5,792 Other foreign government bonds 938 526 — 1,464 Agency mortgage-backed securities — 4,348 — 4,348 Residential mortgage-backed securities — — 9 9 Certificates of deposit and commercial paper — 1,259 — 1,259 Corporate bonds and other (2) 22 1,348 1,085 2,455 Equity securities 929 570 30 1,529 Trading securities measured at net asset value (3) 447 Derivative financial instruments: Interest rate contracts 40 6,088 7 6,135 Foreign exchange contracts — 2,123 20 2,143 Equity-related contracts 98 287 12 397 Credit-related contracts — 52 3 55 Other contracts 3 10 15 28 Available-for-sale Japanese government bonds 19,600 320 — 19,920 Japanese local government bonds — 407 — 407 U.S. Treasury bonds and federal agency securities 627 — — 627 Other foreign government bonds 430 926 — 1,356 Agency mortgage-backed securities — 520 — 520 Residential mortgage-backed securities — 53 27 80 Commercial mortgage-backed securities — — 641 641 Japanese corporate bonds and other debt securities — 1,579 491 2,070 Foreign corporate bonds and other debt securities — 747 178 925 Equity securities: Equity securities with readily determinable fair values 2,976 40 — 3,016 Equity securities measured at net asset value (3) 83 Other investments — — 56 56 Total assets measured at fair value on a recurring basis 33,883 22,181 2,574 59,168 Liabilities: Trading securities sold, not yet purchased 2,051 268 20 2,339 Derivative financial instruments: Interest rate contracts 39 5,679 10 5,728 Foreign exchange contracts — 2,159 1 2,160 Equity-related contracts 128 109 23 260 Credit-related contracts — 75 2 77 Other contracts 4 8 14 26 Long-term debt (4) — 2,164 638 2,802 Total liabilities measured at fair value on a recurring basis 2,222 10,462 708 13,392 Notes: (1) Trading securities include foreign currency denominated s (2) The amount includes CLO and convertible bonds, which are classified in Level 3. (3) In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented for these classes of assets are intended to permit the reconciliation of the fair value hierarchy to the amounts presented in the statements of financial position. The amounts of unfunded commitments related to these investments at March 31, 2020 and September 30, 2020 were ¥47 billion and ¥ 56 (4) Amounts represent items for which the Group elected the fair value option or for which it applied the practicability exception. Items measured at fair value on a recurring basis using significant unobservable inputs (Level 3) The following table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 April 1, 2019 Gains (losses) in Earnings Gains (losses) in OCI Transfers into Level 3 Transfers out of Level 3 Purchases Sales Issuances Settle- ments September 30, 2019 Change in unrealized gains (losses) still held (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 11 — (2) — — — — — — (1 ) 10 — Corporate bonds and other 1,044 (15 ) (2) — — — 338 (105 ) — (125 ) 1,137 (14 ) Equity securities 28 2 (2) — — — 1 — — (1 ) 30 — Derivative financial instruments, net (1) Interest rate contracts 13 (9 ) (2) — — — — — — 1 5 (8 ) Foreign exchange contracts 22 (10 ) (2) — — — — — — (2 ) 10 (9 ) Equity-related contracts (5 ) 1 (2) — — — — — — (3 ) (7 ) 2 Credit-related contracts 1 — (2) — — — — — — — 1 — Other contracts 1 — (2) — — — — — — — 1 — Available-for-sale Residential mortgage-backed securities 40 — (3) — (4) — — — — — (7 ) 33 — Commercial mortgage-backed securities 500 — (3) 1 (4) — — 89 (35 ) — (6 ) 549 — Japanese corporate bonds and other 120 1 (3) 4 (4) — — 97 — — (53 ) 169 — Foreign corporate bonds and other debt securities 103 — (3) (5 ) (4) — — 38 — — (3 ) 133 — Other investments 35 1 (3) — — — 10 — — (10 ) 36 2 Liabilities: Trading securities sold, not yet purchased 1 — (2) — — — (9 ) 8 — — — — Long-term debt 655 (6 ) (5) — (4) 17 (6 ) — — 108 (134 ) 646 (10 ) Six months ended September 30, 2020 April 1, 2020 Gains (losses) Earnings Gains (losses) OCI Transfers into Level 3 Transfers out of Level 3 Purchases Sales Issuances Settle- ments September 30, 2020 Change in unrealized gains (losses) still held (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 10 — (2) — — — — — — (1 ) 9 — Corporate bonds and other 1,115 18 (2) — — (1 ) 189 (113 ) — (123 ) 1,085 18 Equity securities 30 (2 ) (2) — — — 2 — — — 30 (1 ) Derivative financial instruments, net (1) Interest rate contracts (5 ) (3 ) (2) — — — — — — 5 (3 ) 1 Foreign exchange contracts 16 4 (2) — — — — — — (1 ) 19 5 Equity-related contracts (17 ) 4 (2) — — — — — — 2 (11 ) 3 Credit-related contracts (2 ) 3 (2) — 1 1 — — — (2 ) 1 1 Other contracts 1 — (2) — — — — — — — 1 — Available-for-sale Residential mortgage-backed securities 31 — (3) — (4) — — — — — (4 ) 27 — Commercial mortgage-backed securities 615 — (3) 1 (4) — — 78 (51 ) — (2 ) 641 — Japanese corporate bonds and other debt securities 157 (7 ) (3) 8 (4) — — 344 — — (11 ) 491 — Foreign corporate bonds and other debt securities 174 1 (3) 8 (4) — — 31 — — (36 ) 178 — Other investments 39 (1 ) (3) — — — 38 (1 ) — (19 ) 56 (1 ) Liabilities: Trading securities sold, not yet purchased — — (2) — — — — 20 — — 20 — Long-term debt 621 (37 ) (5) (8 ) (4) 19 (35 ) — — 108 (120 ) 638 (27 ) Notes: (1) Total Level 3 derivative exposures have been netted on the table for presentation purposes only. (2) Gains (losses) in Earnings are reported in Trading account gains (losses)-net, (losses)-net (3) Gains (losses) in Earnings are reported in Investment gains (losses)-net. (4) Gains (losses) in OCI are reported in Other comprehensive income (loss). (5) Gains (losses) in Earnings are reported in Other noninterest income (expenses). (6) Amounts represent total gains or losses recognized in earnings and OCI during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at September 30, 2019 and 2020. The amounts of unrealized gains (losses) in OCI related to Available-for-sale securities and Long-term debt were ¥7 billion and ¥(8) billion, at September 30, 2020, respectively. Transfers between levels During the six months ended September 30, 2019, the transfers into Level 3 included ¥17 billion of Long-term debt. Transfers into Level 3 for Long-term debt were primarily due to changes in the observability of the default rate when valuing certain structured notes. During the six months ended September 30, 2019, the transfers out of Level 3 included billion of Long-term debt. Transfers out of Level 3 for Long-term debt were primarily due to changes in the observability of the default rate when valuing certain structured notes. During the six months ended September 30, 2020, the transfers into Level 3 included ¥1 billion of net Derivative assets and billion of Long-term debt. Transfers into Level 3 for net Derivative assets were primarily due to changes in the observability of the inputs used to measure fair value of certain credit-related derivatives. Transfers into Level 3 for Long-term debt were primarily due to changes in the observability of the default rate when valuing certain structured notes. During the six months ended September 30, 2020, the transfers out of Level 3 included ¥1 billion of Trading securities, ¥1 billion of net Derivative liabilities and Quantitative information about Level 3 fair value measurements The following table presents information about significant unobservable inputs related to the MHFG Group’s material classes of Level 3 assets and liabilities at March 31, 2020 and September 30, 2020: March 31, 2020 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for percentages and basis points) Trading securities and Available-for-sale Residential mortgage-backed securities 41 Discounted cash flow Price-based Prepayment rate Default rate Recovery rate Discount margin 4% - 16% 0% - 1% 100% - 100% 5bps - 170bps 7% 0% 100% 52bps Commercial mortgage-backed securities 615 Discounted cash flow Price-based Discount margin 7bps - 185bps 22bps Corporate bonds and other debt securities 1,446 Discounted cash flow Price-based Prepayment rate (1) Default rate (1) Recovery rate (1) Discount margin (1) Discount margin (2) 13% - 21% 0% - 2% 10% - 70% 61bps - 1,160bps 5bps - 1,528bps 21% 2% 67% 256bps 58bps Derivative financial instruments, net: Interest rate contracts (5 ) Internal valuation model (3) IR – IR correlation Default rate (4) 23% - 100% 0% - 63% Foreign exchange contracts 16 Internal valuation model (3) FX – IR correlation FX – FX correlation Default rate (4) -37% - 49% 56% - 65% 0% - 63% Equity-related contracts (17 ) Internal valuation model (3) Equity – IR correlation Equity correlation Equity volatility 25% - 25% 0% - 100% 13% - 157% Credit-related contracts (2 ) Internal valuation model (3) Default rate Credit correlation 0% - 15% 30% - 100% Long-term debt 621 Internal valuation model (3) IR – IR correlation FX – IR correlation FX – FX correlation Equity – IR correlation Equity – FX correlation Equity correlation Equity volatility Default rate Credit correlation 23% - 100% -37% - 50% 56% - 65% 25% - 25% -33% - 100% 0% - 100% 15% - 157% 0% - 12% 15% - 100% September 30, 2020 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Average (5) (in billions of yen, except for percentages and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 36 Discounted cash flow Price-based Prepayment rate Default rate Recovery rate Discount margin 3% - 16% 0% - 1% 100% - 100% 5bps - 170bps 7% 0% 100% 50bps Commercial mortgage-backed securities 641 Discounted cash flow Price-based Discount margin 6bps - 185bps 21bps Corporate bonds and other debt securities 1,754 Discounted cash flow Price-based Prepayment rate (1) Default rate (1) Recovery rate (1) Discount margin (1) Discount margin (2) 1% - 22% 0% - 3% 10% - 69% 25bps - 173bps 4bps - 696bps 19% 1% 67% 123bps 233bps Derivative financial instruments, net: Interest rate contracts (3) Internal valuation model (3) IR - IR correlation 23% - 100% 76% Foreign exchange contracts 19 Internal valuation model (3) FX - IR correlation FX - FX correlation -27% -52% 46% - 63% 28% 55% Equity-related contracts (11) Internal valuation model (3) Equity - IR correlation Equity correlation Equity volatility 25% - 25% 0% - 100% 12% - 96% 25% 88% 43% Credit-related contracts 1 Internal valuation model (3) Default rate Credit correlation 0% - 7% 35% - 100% 1% 66% Other contracts 1 Internal valuation model (3) Commodity volatility 0% - 57% 36% Long-term debt 638 Internal valuation model (3) IR - IR correlation FX - IR correlation FX - FX correlation Equity - IR correlation Equity - FX correlation Equity correlation Equity volatility Default rate Credit correlation 23% - 100% -27% - 52% 46% - 63% 25% - 25% -33% - 100% 0% - 100% 13% - 96% 0% - 6% 18% - 100% 76% 35% 55% 25% -3% 86% 29% 2% 66% Notes: (1) These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. (2) This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. (3) Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. (4) This input represents the counterparty default rate derived from the MHFG Group’s own internal credit analyses. (5) Averages are calculated by weighting each input by the relative fair value of the respective financial instruments except for derivative related inputs where medians are used. IR = Interest rate FX = Foreign exchange Uncertainty of fair value measurements relating to unobservable inputs and interrelationships among unobservable inputs The following is a description of the uncertainty of the fair value measurements from the use of significant unobservable inputs and a description of interrelationships of the significant unobservable inputs used to measure the fair values of Level 3 assets and liabilities. (1) Prepayment rate The prepayment rate is the estimated rate at which voluntary unscheduled repayments of the principal of the underlying assets are expected to occur. The movement of the prepayment rate is generally negatively correlated with borrower delinquency. A change in prepayment rate would impact the valuation of the fair values of financial instruments either positively or negatively, depending on the structure of financial instruments. (2) Default rate The default rate is an estimate of the likelihood of not collecting contractual payments. An increase in the default rate would generally be accompanied by a decrease in the recovery rate and an increase in the discount margin. It would also generally impact the valuation of the fair values of financial instruments negatively. (3) Recovery rate The recovery rate is an estimate of the percentage of contractual payments that would be collected in the event of a default. An increase in recovery rate would generally be accompanied by a decrease in the default rate. It would also generally impact the valuation of the fair values of financial instruments positively. (4) Discount margin The discount margin is the portion o (5) Correlation Correlation is the likelihood of the movement of one input relative to another based on an established relationship. The change in correlation would impact the valuation of derivatives either positively or negatively, depending on the nature of the underlying assets. (6) Volatility Volatility is a measure of the expected change in variables over a fixed period of time. Some financial instruments benefit from an increase in volatility and others benefit from a decrease in volatility. Generally, for a long position in an option, an increase in volatility would result in an increase in the fair values of financial instruments. Items measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities primarily include items that are measured at the lower of cost or fair value, and items that were initially measured at cost and have been written down to fair value as a result of impairment. The following table shows the fair value hierarchy for these items as of March 31, 2020 and September 30, 2020: March 31, 2020 Total Level 1 Level 2 Level 3 Aggregate (in billions of yen) Assets: Loans 90 — — 90 136 Loans held-for-sale 26 — 20 6 26 Equity securities (without readily determinable fair values) 2 — — 2 2 Premises and equipment - 1 — 1 — 12 Other assets — — — — 3 Goodwill — — — — 2 Total assets measured at fair value on a nonrecurring basis 119 — 21 98 181 September 30, 2020 Total Level 1 Level 2 Level 3 Aggregate (in billions of yen) Assets: Loans 131 — 2 129 200 Loans held-for-sale 17 — 11 6 18 Equity securities (without readily determinable fair values) 1 — — 1 2 Other investment s 52 31 — 21 59 Premises and equipment - — — — — 1 Total assets measured at fair value on a nonrecurring basis 201 31 13 157 280 Note: The fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred. Accordingly, the carrying values may not equal current fair value. Loans in the table above became nonaccrual and are measured based upon the observable market price of the loan or the fair value of the underlying collateral. Loans held-for-sale Equity securities (without readily determinable fair values) in the table above consist of non-marketable equity securities which are measured at fair value on a nonrecurring basis, using the measurement alternative for non-marketable equity securities. These equity securities are on a nonrecurring basis either (1) written down to fair value as a result of impairment or (2) adjusted upward or downward to fair value as a result of transactions observed for the identical or similar securities of the same issuer. The fair values of the impaired non-marketable equity securities are determined primarily by using a liquidation value technique. As significant management judgment or estimation is required in the determination of the fair values of non-marketable equity securities, they are classified as Level 3. Other investments in the table above include certain equity method investments which have been impaired and written down to fair value. The fair values of the impaired marketable equity method investments are determined by their quoted market prices. As the securities are traded on an active exchange market, they are classified as Level 1. The fair values of the impaired non-marketable equity method investments are determined primarily by using a discounted cash flow model. As significant management judgment or estimation is required in the determination of the fair values of non-marketable equity method investments, they are classified as Level 3. There were no other investments measured at fair value on a nonrecurring basis as of March 31, 2020. Premises and equipment–net and Other assets in the table above have been impaired and written down to fair value. Goodwill in the table above is due to the decline in the fair value of the reporting unit, the carrying amount of the goodwill was reduced to its fair value. There was no goodwill measured at fair value on a nonrecurring basis as of September 30, 2020. Fair value option The MHFG Group elected the fair value option for certain eligible financial instruments described below. Foreign currency denominated debt securities The MHFG Group elected the fair value option for foreign currency denominated debt securities to mitigate the volatility in earnings due to the difference in the recognition of foreign exchange risk between foreign currency denominated debt securities and financial liabilities. Following the election of the fair value option, these debt securities are reported as trading securities in Trading account assets. Certain hybrid financial instruments The MHFG Group issues structured notes as part o billion at March 31, 2020 and September 30, 2020, respectively. The net unrealized gains (losses) resulting from changes in fair values of these notes recorded in Other noninterest income (expenses) were of ¥2 billion and ¥ 17 billion for the six months ended September 30, 2019 and 2020, respectively. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the Company’s current credit spreads observable in the bond market. Fair value of financial instruments ASC 825, “Financial Instruments” (“ASC 825”), requires the disclosure of the estimated fair value of financial instruments. The fair value of financial instruments is the amount that would be exchanged between willing parties, other than in a forced sale or liquidation. Quoted market prices, if available, are best utilized as estimates of the fair values of financial instruments. However, since no quoted market prices are available for certain financial instruments, fair values for such financial instruments have been estimated based on management’s The following is a description of the valuation methodologies used for estimating the fair value of financial assets and liabilities not carried at fair value on the MHFG Group’s consolidated balance sheets. Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions The carrying value of short-term financial assets, such as cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions approximates the fair value of these assets since they generally involve limited losses from credit risk or have short-term maturities with interest rates that approximate market rates. Investments The fair value of held-to-maturity available-for-sale non-marketable billion and ¥402 billion Loans Loans have been fair valued based on the type of loan, credit quality, prepayment assumptions and remaining maturity. The fair value of loans is determined based on discounted cash flows using interest rates approximating the MHFG Group’s current rates for similar loans. The fair value of collateral dependent nonaccrual loans is determined based on the fair value of the underlying collateral. Other financial assets The carrying value of other financial assets, which primarily consist of accounts receivable from brokers, dealers, and customers for securities transactions, accrued income and collateral provided for derivative transactions, approximates the fair value of these assets since they generally involve limited losses from credit risk or have short-term maturities with interest rates that approximate market rates. The majority of other financial assets is classified as Level 2, and included in the table in Note 6 “Other assets and liabilities.” Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions The carrying value of short-term financial liabilities, such as noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions approximates the fair value of these liabilities since they generally have short-term maturities with interest rates that approximate market rates. Interest-bearing deposits The carrying value of demand deposits approximates the fair value since it represents the amount payable on demand at the balance sheet date. The fair value of time deposits and certificates of deposit is primarily estimated based on discounted cash flow analysis using current interest rates for instruments with similar maturities. The carrying value of short-term certificates of deposit approximates the fair value. Due to tru |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 6 Months Ended |
Sep. 30, 2020 | |
Offsetting of financial assets and financial liabilities | 18. Offsetting of financial assets and financial liabilities Derivatives The MHFG Group enters into master netting arrangements such as International Swaps and Derivatives Association, Inc. (“ISDA”) or similar agreements with counterparties to manage mainly credit risks associated with counterparty default. If the predetermined events including counterparty default occur, these enforceable master netting arrangements or similar agreements give the Group the right to offset derivative receivables and derivative payables and related financial collateral such as cash and securities with the same counterparty. Repurchase and resale agreements and securities lending and borrowing transactions Repurchase and resale agreements and securities lending and borrowing transactions are generally covered by industry standard master repurchase agreements and industry standard master securities lending agreements with netting terms to manage mainly credit risks associated with counterparty default. In the event of default by the counterparty, these agreements with netting terms provide the Group with the right to offset receivables and payables related to such transactions with the same counterparty, and to liquidate the collateral held. The following table p Amounts not offset on the balance sheet (3) Gross amounts recognized Gross amounts offset on the balance sheet Net amounts presented on the balance sheet (2) Financial instruments (4) Cash collateral Net amounts (in billions of yen) March 31, 2020 Assets (1) Derivatives 9,819 — 9,819 (7,723 ) (629 ) 1,467 Receivables under resale agreements 17,347 — 17,347 (17,197 ) — 150 Receivables under securities borrowing transactions 1,753 — 1,753 (1,709 ) — 44 Total 28,919 — 28,919 (26,629 ) (629 ) 1,661 Liabilities (1) Derivatives 9,220 — 9,220 (7,519 ) (1,215 ) 486 Payables under repurchase agreements 17,542 — 17,542 (17,191 ) — 351 Payables under securities lending transactions 626 — 626 (623 ) — 3 Total 27,388 — 27,388 (25,333 ) (1,215 ) 840 September 30, 2020 Assets: Derivatives 8,758 — 8,758 ( 5 (6,373 ) (486 ) 1,899 Receivables under resale agreements 12,666 — 12,666 ( 6 (11,479 ) — 1,187 Receivables under securities borrowing transactions 2,186 — 2,186 ( 7 (1,846 ) — 340 Total 23,610 — 23,610 (19,698 ) (486 ) 3,426 Liabilities: Derivatives 8,251 — 8,251 ( 5 (6,148 ) (930 ) 1,173 Payables under repurchase agreements 19,326 — 19,326 ( 6 (18,038 ) — 1,288 Payables under securities lending 1,476 — 1,476 ( 7 (1,235 ) — 241 Total 29,053 — 29,053 (25,421 ) (930 ) 2,702 Notes: (1) Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter (“OTC”) and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. (2) Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. (3) Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. (4) For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. (5) The amounts of derivative assets and liabilities subject to enforceable master netting arrangements or similar agreements at September 30, 2020 were ¥8,154 billion and ¥7,528 billion, respectively. (6) The amounts of Receivables under resale agreements and Payables under repurchase agreements subject to enforceable industry standard master repurchase agreements with netting terms at September 30, 2020 were ¥11,490 billion and ¥18,755 billion, respectively . (7) The amounts of Receivables under securities borrowing transactions and Payables under securities lending transactions subject to enforceable industry standard master lending agreements with netting terms at September 30, 2020 were ¥1,915 billion and ¥1,243 billion, respectively . |
Repurchase agreements and secur
Repurchase agreements and securities lending transactions accounted for as secured borrowings | 6 Months Ended |
Sep. 30, 2020 | |
Repurchase agreements and securities lending transactions accounted for as secured borrowings | 19. Repurchase agreements and securities lending transactions accounted for as secured borrowings The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2020 and September 30, 2020: Overnight and continuous Up to 30 days 31-90 days Greater than 90 days Total (in billions of yen) March 31, 2020 Repurchase agreements 6,357 5,467 4,867 1,280 17,971 Securities lending transactions 877 231 — 316 1,424 Total 7,234 5,698 4,867 1,596 19,395 September 30, 2020 Repurchase agreements 10,154 3,684 3,162 2,326 19,326 Securities lending transactions 798 298 50 330 1,476 Total 10,952 3,982 3,212 2,656 20,802 The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2020 and September 30, 2020: Repurchase agreements Securities lending transactions (in billions of yen) March 31, 2020 Japanese government bonds and Japanese local government bonds 1,790 269 Foreign government bonds and foreign agency mortgage-backed securities 15,218 359 Commercial paper and corporate bonds 273 50 Equity securities 542 730 Other 148 16 Total (Note) 17,971 1,424 September 30, 2020 Japanese government bonds and Japanese local government bonds 3,355 372 Foreign government bonds and foreign agency mortgage-backed securities 15,100 368 Commercial paper and corporate bonds 209 53 Equity securities 579 668 Other 83 15 Total (Note) 19,326 1,476 Note: Amounts exceeded the gross amounts recognized in Note 18 “Offsetting of financial assets and financial liabilities” by ¥1,227 billion and ¥804 billion, at March 31, 2020 and September 30, 2020, respectively, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off The MHFG Group is required to post securities as collateral with a fair value equal to or in excess of the principal amount of the cash borrowed under repurchase agreements. For securities lending transactions, the Group receives collateral in the form of cash. These contracts involve risks, including (1) the counterparty may fail to return the securities at maturity and (2) the fair value of the securities posted may decline below the amount of the Group’s obligation and therefore the counterparty may require additional amounts. The Group attempts to mitigate these risks by entering into transactions mainly with central counterparty clearing houses which revalue assets and perform margin maintenance activities on a regular basis, diversifying the maturities and counterparties, and using mainly highly liquid securities. The amounts or composition of assets pledged as collateral for borrowings and for other purposes have not changed significantly since March 31, 2020, except for loans. Loans pledged as collateral at September 30, 2020 and March 31, 2020 accounted for approximately 5% and 2% of total assets, respectively. See Note 8 “Pledged assets and collateral” to the consolidated financial statements in our annual report on Form 20-F |
Business segment information
Business segment information | 6 Months Ended |
Sep. 30, 2020 | |
Business segment information | 20. Business segment information The MHFG Group consists of the following five in-house The services that each in-house Retail & Business Banking Company This company provides financial services for individual customers, small and medium-sized Corporate & Institutional Company This company provides financial services for large corporations, financial institutions and public corporations in Japan. Global Corporate Company This company provides financial services for Japanese overseas affiliated corporate customers and non-Japanese Global Markets Company This company invests in financial products with market Asset Management Company This company develops financial products and provides financial services that match the asset management needs of its wide range of customers from individuals to institutional investors. The reportable segment information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices. In addition, the format and information are presented primarily on the basis of Japanese GAAP. Therefore, they are not consistent with the consolidated financial statements prepared in accordance with U.S. GAAP. A reconciliation is provided for the total amount of all business segments’ “Net business profits (losses) + Net gains (losses) related to ETFs and others” with income before income tax expense under U.S. GAAP, and the total amount of all business segments’ “Fixed assets” with the total amount of Premises and equipment-net, right-of-use MHFG (Consolidated) Six months ended September 30, 2019 (1) Retail & Business Banking Company Corporate & Institutional Company Global Corporate Company Global Markets Company Asset Management Company Others (6) Total (in billions of yen) Gross profits + Net gains (losses) related to ETFs and others (2) 322.0 220.2 203.9 235.0 25.5 16.2 1,022.8 General and administrative expenses (3) 330.7 104.0 118.6 101.4 16.4 17.3 688.4 Equity in earnings (losses) of equity method investees—net 6.4 1.1 6.0 — 0.5 5.0 19.0 Amortization of goodwill and others 1.4 0.1 0.2 0.5 3.9 0.5 6.6 Others — — — — — (5.9 ) (5.9 ) Net business profits (losses) (4) (3.7 ) 117.2 91.1 133.1 5.7 (2.5 ) 340.9 Fixed assets (5) 508.2 208.4 160.1 92.8 0.1 732.0 1,701.6 MHFG Six months ended September 30, 2020 Retail & Business Banking Company Corporate & Institutional Company Global Corporate Company Global Markets Company Asset Management Company Others (6) Total (in billions of yen) Gross profits + Net gains (losses) related to ETFs and others (2) 307.4 234.2 222.6 291.5 23.6 14.0 1,093.3 General and administrative expenses (3) 315.0 104.6 121.4 105.6 15.7 17.0 679.3 Equity in earnings (losses) of equity method investees—net 3.6 2.4 5.8 — 0.4 (0.7 ) 11.5 Amortization of goodwill and others 1.1 0.1 0.2 0.4 3.8 0.5 6.1 Net business profits (losses) (4) (5.1 ) 131.9 106.8 185.5 4.5 (4.2 ) 419.4 Fixed assets (5) 518.5 186.3 157.0 90.9 0.1 768.5 1,721.3 Notes: (1) Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates. (2) “Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs non-consolidated (3) “General and administrative expenses” excludes non-allocated (4) Net business profits (losses) is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (as defined above) less general and administrative expenses (excluding non-allocated gains (losses), net) plus equity in earnings (losses) of equity method investees-net (5) “Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and equipment-net; right-of-use (6) “Others” includes the following items: • profits and expenses pertaining to consolidated subsidiaries that are not subject to allocation; • consolidating adjustments, including elimination • equity in earnings (losses) of equity method investees-net • profits and losses pertaining to derivative transactions that reflect the counterparty risk of the individual parties and other factors in determining fair market value. Reconciliation As explained above, the measurement bases of the internal management reporting systems and the income and expenses items included are different from the accompanying consolidated statements of income. Therefore, it is impracticable to present reconciliations of all the business segment’s information, other than net business profits (losses), to the corresponding items in the accompanying consolidated statements of income. A reconciliation of “Net business profits (losses) + Net gains (losses) related to ETFs and others” for the six months ended September 30, 2019 and 2020 presented above to income before income tax expense shown on the consolidated statements of income and a reconciliation of “Fixed assets” at September 30, 2019 and 2020 to the total amount of Premises and equipment - right-of-use Six months ended September 30, 2019 (in billions of yen) Net business profits (losses) + Net gains (losses) related to ETFs and others 340.9 419.4 Adjustment to reconcile management reporting to Japanese GAAP: General and administrative expenses: non-allocated 24.5 4.1 Expenses related to portfolio problems (including reversal of (provision for) general reserve for losses on loans) (19.1 ) (84.8 ) Gains on reversal of reserves for possible losses on loans, and others 7.9 3.6 Net gains (losses) related to stocks—Net gains (losses) related to ETFs and others 55.4 (50.5 ) Net extraordinary gains (losses) (5.0 ) 65.8 Others (13.1 ) (24.2 ) Income before income tax expense under Japanese GAAP 391.5 333.4 Adjustment to reconcile Japanese GAAP to U.S. GAAP: Derivative financial instruments and hedging activities 105.0 (12.9 ) Investments (163.9 ) 285.4 Loans — (10.8 ) Allowances for credit losses (1) 0.5 35.8 Premises and equipment (51.5 ) (37.1 ) Land revaluation 0.5 2.7 Business combinations 4.1 (4.3 ) Pension liabilities (27.3 ) (84.5 ) Consolidation of variable interest entities 40.3 36.6 Foreign currency translation 14.3 (0.2 ) Others (3.0 ) 3.7 Income before income tax expense under U.S. GAAP 310.5 547.8 As of September 30, (in billions of yen) Fixed assets 1,701.6 1,721.3 U.S. GAAP adjustments (2) 964.5 818.4 Premises and equipment-net right-of-use 2,666.1 2,539.7 Notes: (1) The MHFG Group adopted ASU No.2016-13, 2019-04, 2019-05, 2019-11 off-balance-sheet (2) The U.S. GAAP adjustments are primarily comprised of GAAP differences mainly from right-of-use |
Subsequent events
Subsequent events | 6 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 21. Subsequent events Share consolidation of MHFG’s common stock On June 25, 2020, a 1-for-10 Transition from defined benefit pension plan to defined contribution pension plan MHFG and certain domestic subsidiaries changed their defined benefit pension plans including partial transition from the defined benefit pension plans to the defined contribution pension plans, effective as of October 1, 2020. This partial transition constitutes a settlement under ASC 715 and any gain or loss is required to be recognized in the consolidated results of operations once settlement criteria are met. As a result of the settlement, the benefit obligations and the plan assets decreased by ¥22 billion and ¥24 billion, respectively. |
Basis of presentation (Policies
Basis of presentation (Policies) | 6 Months Ended |
Sep. 30, 2020 | |
Basis of presentation | 1. Basis of presentation Mizuho Financial Group, Inc. (“MHFG”) is a joint stock corporation with limited liability under the laws of Japan. MHFG is a holding company for Mizuho Bank, Ltd. (“MHBK”), Mizuho Trust & Banking Co., Ltd. (“MHTB”), Mizuho Securities Co., Ltd. (“MHSC”), Asset Management One Co., Ltd. (“Asset Management One”), and other subsidiaries. MHFG, through its subsidiaries (“the MHFG Group,” or “the Group”), provides domestic and international financial services in Japan and other countries. For a discussion of the Group’s segment information, see Note 20 “Business segment information.” MHFG and its domestic subsidiaries as well as its foreign subsidiaries maintain their accounting records in accordance with the accounting standards of Japan and those standards of the countries in which they are domiciled. Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform them to the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are stated in Japanese yen, the currency of the country in which MHFG is incorporated and principally operates. The accompanying consolidated financial statements include the accounts of MHFG and its subsidiaries. MHFG’s interim financial reporting period ends on September 30. Certain of MHFG’s subsidiaries have different interim financial reporting periods than September 30. For those subsidiaries with interim financial reporting periods within three months of MHFG’s interim financial reporting period, the effect of intervening events that materially affect the financial position or results of operations through the date of each of the periods presented in the MHFG’s consolidated financial statements have been considered for adjustment and/or disclosure. When determining whether to consolidate investee entities, the MHFG Group performs an analysis of the facts and circumstances of the particular relationships between the MHFG Group and the investee entities as well as the ownership of voting shares. The consolidated financial statements also include the accounts of VIEs for which MHFG or its subsidiaries have been determined to be the primary beneficiary in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”). All significant intercompany transactions and balances have been eliminated upon consolidation. The MHFG Group accounts for investments in entities over which it has significant influence by using the equity method of accounting. These investments are included in Other investments and the Group’s proportionate share of income or loss is included in Equity in earnings (losses) of equity method investees-net. On June 25, 2020, a 1-for-10 share consolidation was approved at the Ordinary General Meeting of Shareholders and it became effective on October 1, 2020. All share and per share information with respect to MHFG’s common stock and preferred stock have been restated to reflect the effect of the share consolidation and related amendments to the articles of incorporation for all periods presented. See Equity on the consolidated balance sheets, Earnings per common share and Dividends per share on the consolidated statements of income, Note 7 “Preferred and common stock,” and Note 10 “Earnings per common share” for the restated figures. In addition, certain other comparative amounts for the prior period have been reclassified in order to conform to the current period’s presentation. The unaudited consolidated financial statements should be read in conjunction with the audited financial statements and related notes thereto included in the annual financial statements for the fiscal year ended March 31, 2020. Certain financial information that is normally included in annual financial statements prepared in accordance with U.S. GAAP, but is not required for interim reporting purposes, has been condensed or omitted. |
Use of estimates | Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and related disclosures. Specific areas, among others, requiring the application of management’s estimates and judgment include assumptions pertaining to the allowance for credit losses, valuation of deferred tax assets, valuation of derivative financial instruments, valuation of investments and valuation of pension and other employee benefits. During times of pandemics and dislocated markets, such as COVID-19, |
Financial instruments—current expected credit losses ("CECL") | Financial instruments—current expected credit losses (“CECL”) The adoption of this guidance established a single allowance framework for all financial assets measured at amortized cost and certain off-balance-sheet instrument exposures. This framework requires management’s estimate to reflect credit losses over the instrument’s remaining expected lives and consider expected future changes in macroeconomic conditions. The following note and Note 2 “Issued accounting pronouncements,” Note 3 “Investments,” Note 4 “Loans” and Note 5 “Allowance for credit losses on loans” provide further information about the impact that the adoption of ASC 326, “Financial Instruments - Credit Losses” (“ASC 326”) had on the MHFG Group. |
Allowance for credit losses on loans | Allowance for credit losses on loans Effective April 1, 2020, the allowance for credit losses on loans is established for current expected credit losses on the MHFG Group’s loan portfolio in accordance with ASC 326. Prior to April 1, 2020, the allowance for credit losses on loans was established based on an incurred loss model in accordance with ASC 310, “Receivables” (“ASC 310”) and ASC 450, “Contingencies” (“ASC 450”). The MHFG Group makes adjustments to the allowance for credit losses on loans through Provision (credit) for credit losses in the consolidated statements of income in each subsequent reporting period. Loan principal that management judges to be uncollectible, based on detailed loan reviews and a credit quality assessment, is charged off against the allowance for credit losses on loans. In general, the Group charges off loans when the Group determines that the obligor should be classified as substantially bankrupt or bankrupt. See Note 4 “Loans” for the definitions of obligor categories. Obligors in the retail portfolio segment are generally determined to be substantially bankrupt when they are past due for more than six months, and as for obligors in the corporate portfolio segment, the Group separately monitors the credit quality of each obligor without using time-based triggers. The Group does not record expected credit losses for accrued interest receivables because uncollectible accrued interest is reversed through interest income in a timely manner in line with the Group’s nonaccrual and past due policies for loans. The MHFG Group maintains an appropriate allowance for credit losses on loans to represent management’s estimate of the expected credit losses in the Group’s loan portfolio. The management evaluates the appropriateness of the allowance for credit losses on loans semi-annually. The allowance considers expected credit losses over the remaining expected lives of the applicable instruments. The expected life of each instrument is determined by considering expected prepayments, contractual terms and cancellation features. When determining expected credit losses, a single forward-looking macroeconomic scenario is considered over a reasonable and supportable forecast period. This forward-looking macroeconomic scenario is based on the Group’s stress testing and in line with the scenario used for the Group’s business plan. If the scenario does not reflect a sudden change in economic conditions adequately, it could be possible to make adjustments to the scenario. After the forecast period, the Group reverts to long-term historical loss experience with a certain graduated transition period, to estimate losses over the remaining lives. The macroeconomic scenario is updated at least semi-annually and is reviewed accordingly to reflect current economic conditions and the Group’s expectation of future conditions on a timely basis. For April 1, 2020 and September 30, 2020, the Group used the most recent macroeconomic scenario available during the Group’s credit loss estimation process. In terms of the internal risk ratings, for the corporate portfolio segment, the credit quality review process and the credit rating process serve as the basis for determining the allowance for credit losses on loans. Through such processes loans are categorized into groups to reflect the probability of default, whereby the MHFG Group’s management assesses the ability of borrowers to service their debt, taking into consideration current financial information, ability to generate cash, historical payment experience, analysis of relevant industry segments and current trends. For the retail portfolio segment, the different categories of past due status of loans are primarily utilized in the credit quality review and the credit rating processes as the basis for determining the allowance for credit losses on loans. In general, the MHFG Group estimates expected credit losses collectively on the loans in the case of normal and watch obligors, considering the risk associated with a particular pool and the probability that the exposures within the pool will deteriorate or default. The allowance for credit losses on nonaccrual loans includes the allowance for groups of loans which were collectively evaluated for expected credit losses, in addition to the allowance for those loans that were individually evaluated for expected credit losses. See The estimation of expected credit losses that are evaluated collectively begins with a quantitative calculation that considers the likelihood of the borrower changing delinquency status or moving from one obligor category or rating to another. The quantitative calculation covers expected credit losses over an instrument’s expected life and is estimated by applying credit loss factors to the MHFG Group’s estimated exposure at default. The credit loss factors incorporate the probability of default as well as the loss given default based on the historical loss rates and the external ratings such as S&P. The model and inputs used to determine credit losses on loans that are evaluated collectively are analyzed on a periodic basis by comparing the estimated values with the actual results subsequent to the balance sheet date. The MHFG Group divides its overall portfolio into domestic and foreign portfolios, and categorizes the domestic portfolio into four portfolio segments according to their risk profiles: corporate, retail, sovereign, and banks and financial institutions. The corporate portfolio segment consists of loans originated primarily by MHBK and MHTB, and includes mainly business loans such as those used for working capital and capital expenditure, as well as loans for which the primary source of repayment of the obligation is income generated by the relevant assets such as project finance, asset finance and real estate finance. The corporate portfolio segment is divided into two classes based on their risk characteristics: large companies, and small and medium-sized The retail portfolio segment consists mainly of residential mortgage loans originated by MHBK, and it is divided into two classes based on their risk characteristics: housing loan and others. For the retail portfolio segment, the Japanese unemployment rate is applied as a key factor. As it pertains to troubled debt restructuring (“TDR”) loans in the retail portfolio segment, which are subject to collective evaluation for expected credit losses, the restructuring itself, as well as subsequent payment defaults, if any, are considered in determining obligor categories. Expected credit loss estimates also include consideration of expected cash recoveries on loans previously charged-off, or expected recoveries on collateral dependent loans where recovery is expected through sale of the collateral. The allowance recorded for individually evaluated loans is based on (1) the present value of expected future cash flows, after considering the restructuring effect and subsequent payment default with respect to TDRs, discounted at the loan’s initial effective interest rate, or (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. The collateral that the MHFG Group obtains for loans consists primarily of real estate. In obtaining the collateral, the Group evaluates the fair value of the collateral and its legal enforceability. The Group also performs subsequent re-evaluations at least once a year. As it pertains to real estate collateral, valuation is generally performed by an appraising subsidiary which is independent from the Group’s loan origination departments by using generally accepted valuation techniques such as (1) the replacement cost approach, (2) the sales comparison approach or (3) the income approach. In the case of large real estate collateral, the Group generally engages third-party appraisers to perform the valuation. The MHFG Group’s methodology for determining the appropriate allowance for credit losses on loans also considers the imprecision inherent in the methodologies used. As a result, the amounts determined under the methodologies described above could be adjusted by management to consider the potential impact of other qualitative factors which include, but are not limited to , |
Allowance for credit losses on available-for-sale securities | Allowance for credit losses on available-for-sale The MHFG Group performs periodic reviews to identify impaired securities in accordance with ASC 326. Available-for-sale securities are impaired if the fair value is less than the amortized cost (excluding accrued interest receivable). For available-for-sale available-for-sale available-for-sale is recognized immediately through earnings. In other cases, the Group evaluates expected cash flows to be received and determines if a credit loss exists, and if so, the amount of the credit loss is recognized in Provision (credit) for credit losses, while the remaining decline in fair value is recognized in other comprehensive income, net of applicable taxes. The Group generally does not record an allowance for credit losses for accrued interest receivables related to available-for-sale securities because these receivables are reversed through interest income, consistent with the Group’s past due policies. For additional information, see Note 4 “Loans.” Before the adoption of ASC 326, the previous other-than-temporary impairment model was applied for available-for-sale |
Issued accounting pronounceme_2
Issued accounting pronouncements (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table reconciles the closing allowance for loans and off-balance-sheet the opening allowance determined with ASC 326 at April 1, 2020: At March 31, 2020 ASC 310/450 Transition Adjustment At April 1, 2020 ASC 326 (in billions of yen) Loans: Corporate 413 78 491 Retail 28 78 106 Off-balance-sheet 46 20 66 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Available-for-Sale and Held-to-Maturity Securities | The amortized cost, net of allowance for credit losses, gross unrealized gains and losses, and fair value of available-for-sale and held-to-maturity securities at March 31, 2020 and September 30, 2020 are as follows: Amortized (5)(6) Gross unrealized gains Gross unrealized losses Fair value (in millions of yen) March 31, 2020 Available-for-sale Debt securities: Japanese government bonds 12,651,677 1,319 50,224 12,602,772 Japanese local government bonds 272,412 649 494 272,567 U.S. Treasury bonds and federal agency securities 927,172 7,733 — 934,905 Other foreign government bonds 1,408,009 3,273 202 1,411,080 Agency mortgage-backed securities (1) 494,958 10,490 434 505,014 Residential mortgage-backed securities 83,077 1,405 151 84,331 Commercial mortgage-backed securities 609,559 5,551 106 615,004 Japanese corporate bonds and other debt securities (2) 1,836,540 7,489 8,772 1,835,257 Foreign corporate bonds and other debt securities (3) 849,595 2,595 168 852,022 Total 19,132,999 40,504 60,551 19,112,952 Held-to-maturity Debt securities: Japanese government bonds 479,936 13,357 — 493,293 Agency mortgage-backed securities (4) 382,095 1,245 1,303 382,037 Total 862,031 14,602 1,303 875,330 September 30, 2020 Available-for-sale Debt securities: Japanese government bonds 19,964,553 1,084 45,274 19,920,363 Japanese local government bonds 406,873 757 446 407,184 U.S. Treasury bonds and federal agency securities 625,398 1,388 2 626,784 Other foreign government bonds 1,353,376 3,020 74 1,356,322 Agency mortgage-backed securities (1) 509,808 10,650 433 520,025 Residential mortgage-backed securities 78,883 1,220 123 79,980 Commercial mortgage-backed securities 634,537 6,674 69 641,142 Japanese corporate bonds and other debt securities (2) 2,066,234 12,579 8,785 2,070,028 Foreign corporate bonds and other debt securities (3) 922,752 3,410 1,190 924,972 Total 26,562,414 40,782 56,396 26,546,800 Held-to-maturity Debt securities: Japanese government bonds 479,947 11,505 — 491,452 Agency mortgage-backed securities (4) 310,031 10,666 — 320,697 Total 789,978 22,171 — 812,149 Notes: (1) Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥504,953 million and ¥61 million, respectively, at March 31, 2020, and ¥ 519,974 51 (2) Other debt securities presented in this line primarily consist of Japanese asset-backed securities (“ABS”), of which the total fair values was million at September 30, 2020. (3) Other debt securities presented in this line primarily consist of Foreign negotiable certificates of deposit (“NCDs”) and ABS, of which the total fair values were ¥271,387 million at March 31, 2020, and ¥319,044 million at September 30, 2020. (4) All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. (5) Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale (6) Accrued interest receivables are excluded from amortized cost, of which the amount was million at September 30, 2020 and included in Acc rued income. |
Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity | The amortized cost, net of allowance for credit losses, and fair value available-for-sale held-to-maturity Amortized cost Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Total (in millions of yen) Available-for-sale Debt securities: Japanese government bonds 14,588,119 3,630,141 1,550,745 195,548 19,964,553 Japanese local government bonds 30,537 209,317 149,994 17,025 406,873 U.S. Treasury bonds and federal agency securities 625,398 — — — 625,398 Other foreign government bonds 1,024,723 326,539 1,058 1,056 1,353,376 Agency mortgage-backed securities — — — 509,808 509,808 Residential mortgage-backed securities — — — 78,883 78,883 Commercial mortgage-backed securities 6,080 252,315 375,342 800 634,537 Japanese corporate bonds and other debt securities 94,088 820,338 587,344 564,464 2,066,234 Foreign corporate bonds and other debt securities 453,235 343,496 123,123 2,898 922,752 Total 16,822,180 5,582,146 2,787,606 1,370,482 26,562,414 Held-to-maturity Debt securities: Japanese government bonds — 479,947 — — 479,947 Agency mortgage-backed securities — — — 310,031 310,031 Total — 479,947 — 310,031 789,978 Fair value Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Total (in millions of yen) Available-for-sale Debt securities: Japanese government bonds 14,586,652 3,619,928 1,522,868 190,915 19,920,363 Japanese local government bonds 30,553 209,557 149,982 17,092 407,184 U.S. Treasury bonds and federal agency securities 626,784 — — — 626,784 Other foreign government bonds 1,025,928 328,280 1,058 1,056 1,356,322 Agency mortgage-backed securities — — — 520,025 520,025 Residential mortgage-backed securities — — — 79,980 79,980 Commercial mortgage-backed securities 6,085 254,025 380,219 813 641,142 Japanese corporate bonds and other debt securities 94,089 819,848 585,922 570,169 2,070,028 Foreign corporate bonds and other debt securities 454,356 344,474 123,244 2,898 924,972 Total 16,824,447 5,576,112 2,763,293 1,382,948 26,546,800 Held-to-maturity Debt securities: Japanese government bonds — 491,452 — — 491,452 Agency mortgage-backed securities — — — 320,697 320,697 Total — 491,452 — 320,697 812,149 |
Gross Unrealized Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities, Aggregated by Length of Time that Individual Securities Have Been in a Continuous Unrealized Loss Position | The following table shows the gross unrealized losses and fair value of available-for-sale held-to-maturity Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (in millions of yen) March 31, 2020 Available-for-sale Debt securities: Japanese government bonds 10,339,320 43,204 283,561 7,020 10,622,881 50,224 Japanese local government bonds 162,665 418 34,114 76 196,779 494 U.S. Treasury bonds and federal agency securities — — — — — — Other foreign government bonds 196,990 202 — — 196,990 202 Agency mortgage-backed securities (1) 30,913 227 9,504 207 40,417 434 Residential mortgage-backed securities 9,524 62 5,450 89 14,974 151 Commercial mortgage-backed securities 15,115 85 7,478 21 22,593 106 Japanese corporate bonds and other debt securities 669,572 5,507 608,361 3,265 1,277,933 8,772 Foreign corporate bonds and other debt securities 152,058 165 5,564 3 157,622 168 Total 11,576,157 49,870 954,032 10,681 12,530,189 60,551 Held-to-maturity Debt securities: Agency mortgage-backed securities (2) — — 191,244 1,303 191,244 1,303 Total — — 191,244 1,303 191,244 1,303 September 30, 2020 Available-for-sale Debt securities: Japanese government bonds 9,978,136 23,884 1,234,118 21,390 11,212,254 45,274 Japanese local government bonds 126,991 246 72,086 200 199,077 446 U.S. Treasury bonds and federal agency securities 29,093 2 — — 29,093 2 Other foreign government bonds 278,022 74 — — 278,022 74 Agency mortgage-backed securities (1) 30,948 202 9,799 231 40,747 433 Residential mortgage-backed securities 9,567 41 6,794 82 16,361 123 Commercial mortgage-backed securities 6,052 15 11,396 54 17,448 69 Japanese corporate bonds and other debt securities 565,278 3,028 597,714 5,757 1,162,992 8,785 Foreign corporate bonds and other debt securities 245,311 1,187 2,712 3 248,023 1,190 Total 11,269,398 28,679 1,934,619 27,717 13,204,017 56,396 Held-to-maturity Debt securities: Agency mortgage-backed securities (2) — — — — — — Total — — — — — — Notes: (1) Agency mortgage-backed securities presented in this line consist of Japanese agency mortgage-backed securities, of which the fair values were ¥40,417 million at March 31, 2020, and ¥40,747 million at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. |
Realized Gains and Losses on Sales of Available-for-Sale Securities | The following table shows the realized gains and losses on sales of available-for-sale Six months ended September 30, 2019 2020 (in millions of yen) Gross realized gains 36,183 5,101 Gross realized losses (6,167 ) (3,694 ) Net realized gains (losses) on sales of available-for-sale 30,016 1,407 |
Summary of Details of Net Gains and Losses on Equity Securities | The following table shows the details of the net gains and losses on Equity securities for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 2020 (in millions of yen) Net gains (losses) recognized during the period on equity securities (126,648 ) 266,119 Less: Net gains (losses) recognized during the period on equity securities sold during the period (3,084 ) 34,985 Unrealized gains (losses) recognized during the reporting period on equity securities still held at the (123,564 ) 231,134 |
Summary of Equity Securities Without Readily Determinable Fair Values | The following table shows carrying amounts of equity securities without readily determinable fair values, for which the measurement alternative is used, and cumulative amounts due to downward adjustments and impairments and upward adjustments, at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Carrying amounts at the end of the period 419,775 402,194 Downward adjustments and impairments 2,435 3,800 Upward adjustments 9,128 9,104 The following table shows amounts recognized in earnings during the period due to downward adjustments and impairments and upward adjustments for equity securities without readily determinable fair values. Six months ended September 30, 2019 2020 (in millions of yen) Downward adjustments and impairments 430 1,411 Upward adjustments 6,527 34 |
Summary of Composition of Other Investments | The following table summarizes the composition of Other investments at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Equity method investments 404,513 412,281 Investments held by consolidated investment companies 39,438 55,682 Total 443,951 467,963 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Loans Outstanding by Domicile and Industry of Borrower | The table below presents loans outstanding by domicile and industry of borrower at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Domestic: Manufacturing 9,731,028 11,700,375 Construction and real estate 9,603,433 10,172,843 Services 5,992,511 6,294,310 Wholesale and retail 5,219,727 5,415,605 Transportation and communications 3,832,884 3,978,708 Banks and other financial institutions 4,634,442 4,719,863 Government and public institutions 2,198,805 2,639,956 Other industries (Note) 5,389,347 5,517,220 Individuals: Mortgage loans 8,567,099 8,357,042 Other 861,235 798,475 Total domestic 56,030,511 59,594,397 Foreign: Commercial and industrial 20,818,709 20,190,048 Banks and other financial institutions 10,475,277 10,502,326 Government and public institutions 317,284 308,171 Other 35,388 37,572 Total foreign 31,646,658 31,038,117 Total 87,677,169 90,632,514 Less: Unearned income and deferred loan fees—net 149,081 156,767 Total loans before allowance for credit losses on loans 87,528,088 90,475,747 Note: Other industries of domestic includes trade receivables and lease receivables of consolidated VIEs. |
Credit Quality Information of Loans Based on MHFG Group's Internal Rating System | The table below presents credit quality information of loans based on the MHFG Group’s internal rating system at March 31, 2020 and September 30, 2020: September 30, 2020 March 31, 2020 Term loans by origination year Revolving Total Total 2020 2019 2018 2017 2016 Prior to 2016 (in millions of yen) Domestic: Corporate: Large companies: Normal obligors 9,754,935 7,343,964 7,517,546 2,710,108 2,498,507 2,978,989 8,279,869 41,083,918 37,979,353 Watch obligors excluding special attention obligors 424,745 92,446 82,206 56,363 33,737 33,847 196,544 919,888 840,289 Nonaccrual loans 142,730 55,771 41,249 20,295 11,956 29,551 136,213 437,765 343,439 Small and medium-sized Normal obligors 381,487 543,822 456,363 260,146 232,638 485,430 502,124 2,862,010 2,941,599 Watch obligors excluding special attention obligors 46,537 32,174 37,116 13,321 15,523 28,933 30,521 204,125 189,075 Nonaccrual 58,754 15,624 4,294 5,900 2,636 9,849 28,118 125,175 119,759 Retail: Housing Loan: Normal obligors 437,780 668,358 627,669 634,528 783,929 4,879,204 — 8,031,468 8,215,781 Watch obligors excluding special attention obligors 560 1,178 1,827 1,579 2,217 43,397 — 50,758 57,478 Nonaccrual 18,941 6,528 1,525 1,432 1,778 38,456 — 68,660 57,696 Others: Normal obligors 327,506 209,899 152,679 106,359 102,735 361,209 523,640 1,784,027 1,783,779 Watch obligors excluding special attention obligors 36,270 17,587 11,754 6,911 4,534 6,846 12,185 96,087 81,463 Nonaccrual 26,633 6,905 1,945 1,000 965 9,532 11,567 58,547 59,782 Sovereign Normal obligors 1,907,424 264,528 126,868 87,021 92,664 485,721 13,700 2,977,926 2,559,420 Watch obligors excluding special attention obligors 2,859 6,914 2,951 1,134 257 34 — 14,149 10,939 Nonaccrual — — — — — — — — — Banks and other financial institutions Normal obligors 15,637 155,415 261,601 26,841 85,303 74,009 187,102 805,908 790,659 Watch obligors excluding special attention obligors — — — — — — — — — Nonaccrual 167 — 180 — — — 1,600 1,947 — Total domestic 13,582,965 9,421,113 9,327,773 3,932,938 3,869,379 9,465,007 9,923,183 59,522,358 56,030,511 Foreign: Corporate: Normal obligors 10,181,936 5,813,342 3,419,918 1,298,791 804,580 1,624,422 4,630,806 27,773,795 28,555,991 Watch obligors excluding special attention obligors 172,225 43,785 47,998 37,862 15,899 35,532 84,646 437,947 336,470 Nonaccrual 41,085 25,405 12,954 5,422 8,448 21,241 43,592 158,147 135,522 Retail: Normal obligors 3,613 9,806 6,008 2,956 1,517 2,527 102 26,529 30,862 Watch obligors excluding special attention obligors 174 1,110 647 361 109 11 — 2,412 858 Nonaccrual 26 506 287 103 44 1 — 967 6 Sovereign Normal obligors 91,542 99,248 32,403 149,794 5,907 90,988 81,008 550,890 558,384 Watch obligors excluding special attention obligors — — — — — 20,124 — 20,124 19,971 Nonaccrual — 741 — — — — — 741 — Banks and other financial institutions Normal obligors 750,039 654,755 421,876 95,375 4,509 3,536 49,997 1,980,087 2,008,516 Watch obligors excluding special attention obligors 912 152 686 — — — — 1,750 78 Nonaccrual — — — — — — — — — Total foreign 11,241,552 6,648,850 3,942,777 1,590,664 841,013 1,798,382 4,890,151 30,953,389 31,646,658 Total 24,824,517 16,069,963 13,270,550 5,523,602 4,710,392 11,263,389 14,813,334 90,475,747 87,677,169 Notes: (1) Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered nonaccrual. (2) The primary component of the retail portfolio segment is housing loans to individuals which obligor category is classified based on past due status. The trigger to reclassify obligors from normal obligors to watch obligors excluding special attention obligors is when the past due status is more than 30 days. (3) There were no significant revolving line of credit arrangements that converted to term loans during the six months ended September 30, 2020. |
Impaired Loans Information | The table below presents nonaccrual loans information at March 31, 2020 and September 30, 2020: Amortized cost Nonaccrual loans with an allowance Nonaccrual loans without an allowance Total nonaccrual loans Interest income recognized (in millions of yen) March 31, 2020 Domestic: Corporate: Large companies 333,442 9,997 343,439 4,155 Small and medium-sized 102,786 16,973 119,759 1,724 Retail: Housing Loan 28,263 29,433 57,696 937 Others 36,220 23,562 59,782 846 Total domestic 500,711 79,965 580,676 7,662 Foreign: Total foreign 95,289 40,239 135,528 3,032 Total 596,000 120,204 716,204 10,694 September 30, 2020 Domestic: Corporate: Large companies 416,637 21,128 437,765 2,501 Small and medium-sized 105,556 19,619 125,175 777 Retail: Housing Loan 40,358 28,302 68,660 535 Others 36,270 22,277 58,547 373 Banks and other financial institutions 1,947 — 1,947 3 Total domestic 600,768 91,326 692,094 4,189 Foreign: Total foreign 110,295 49,560 159,855 958 Total 711,063 140,886 851,949 5,147 Notes: (1) Amounts represent the outstanding bal a (2) Amounts represent the amount of interest income on nonaccrual loans recognized on a cash basis and included in Interest income on loans in the consolidated statements of income. (3) The majority of total foreign consist of corporate. |
Troubled Debt Restructurings Entered Modified Periods by Type of Concession Granted | The following table presents modified loans that were determined to be TDRs during the six months ended September 30, 2019 and 2020: Loan forgiveness or debt to equity swaps Interest rate reduction and/or postponement of principal and/or Recorded investment (1) Charge-offs (in millions of yen) September 30, 2019 Domestic: Corporate: Large companies 689 3,806 152,373 Small and medium-sized — — 55,344 Retail: Housing Loan — — 3,742 Others — — 7,468 Total domestic 689 3,806 218,927 Foreign: Total foreign 470 4,922 38,646 Total 1,159 8,728 257,573 September 30, 2020 Domestic: Corporate: Large companies — — 264,952 Small and medium-sized — — 54,760 Retail: Housing Loan — — 14,690 Others — — 9,130 Banks and other financial institutions — — 1,600 Total domestic — — 345,132 Foreign: Total foreign — — 80,889 Total — — 426,021 Notes: (1) Amounts represent the b o (2) The majority of total foreign consist of corporate |
Payment Defaults Occurred During Periods with Respect to Loans Modified as Troubled Debt Restructurings within Previous Twelve Months | The following table presents payment defaults which occurred during the six months ended September 30, 2019 and 2020 with respect to the loans modified as TDRs within the previous twelve months: Recorded investment September 30, 2019 September 30, 2020 (in millions of yen) Domestic: Corporate: Large companies 5,875 2,084 Small and medium-sized 2,444 3,861 Retail: Housing Loan 686 505 Others 1,349 1,104 Total domestic 10,354 7,554 Foreign: Total foreign 6,436 43,786 Total 16,790 51,340 |
Age Analysis of Past Due Loans | The table below presents an analysis of the age of the amortized cost basis in loans that are past due at March 31, 2020 and September 30, 2020: 30-59 days past due 60-89 days past due 90 days or more past due Total past due Current Total (in millions of yen) March 31, 2020 Domestic: Corporate: Large companies 2,146 2,013 38,364 42,523 39,120,558 39,163,081 Small and medium-sized 2,347 894 9,187 12,428 3,238,005 3,250,433 Retail: Housing Loan 15,703 10,078 26,690 52,471 8,278,484 8,330,955 Others 6,179 2,013 15,239 23,431 1,901,593 1,925,024 Sovereign — — — — 2,570,359 2,570,359 Banks and other financial institutions — — — — 790,659 790,659 Total domestic 26,375 14,998 89,480 130,853 55,899,658 56,030,511 Foreign: Total foreign 1,214 181 28,722 30,117 31,616,541 31,646,658 Total 27,589 15,179 118,202 160,970 87,516,199 87,677,169 September 30, 2020 Domestic: Corporate: Large companies 311 269 38,868 39,448 42,402,123 42,441,571 Small and medium-sized 2,093 604 11,226 13,923 3,177,387 3,191,310 Retail: Housing Loan 15,831 7,870 25,922 49,623 8,101,263 8,150,886 Others 4,720 1,436 14,152 20,308 1,918,353 1,938,661 Sovereign — — — — 2,992,075 2,992,075 Banks and other financial institutions — — — — 807,855 807,855 Total domestic 22,955 10,179 90,168 123,302 59,399,056 59,522,358 Foreign: Total foreign 1,826 636 60,535 62,997 30,890,392 30,953,389 Total 24,781 10,815 150,703 186,299 90,289,448 90,475,747 Note: The majority of total foreign consist of corporate . |
Allowance for credit losses o_2
Allowance for credit losses on loans (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Changes in Allowance for Loan Losses, Allowance for Loan Losses and Loans Outstanding Disaggregated on Basis of Impairment Method, by Portfolio Segment | Changes in Allowance for credit losses on loans by portfolio segment for the six months ended September 30, 2019 and 2020 are shown below: Corporate Retail Total (in millions of yen) Six months ended September 30, 2019 Balance at beginning of period 277,955 29,246 307,201 Provision (credit) for credit losses on loans 12,268 1,505 13,773 Charge-offs (25,147 ) (3,887 ) (29,034 ) Recoveries 2,785 1,269 4,054 Net charge-offs (22,362 ) (2,618 ) (24,980 ) Others (Note) (4,570 ) (2 ) (4,572 ) Balance at end of period 263,291 28,131 291,422 Six months ended September 30, 2020 Balance at beginning of period 413,026 27,829 440,855 April 1, 2020 adoption of CECL 77,514 78,241 155,755 Adjusted Balance at beginning of period 490,540 106,070 596,610 Provision (credit) for credit losses on loans 64,133 (11,051 ) 53,082 Charge-offs (28,417 ) (3,446 ) (31,863 ) Recoveries 5,260 479 5,739 Net charge-offs (23,157 ) (2,967 ) (26,124 ) Others (Note) (997 ) (45 ) (1,042 ) Balance at end of period 530,519 92,007 622,526 Note: Others includes primarily foreign exchange translation. |
Other assets and liabilities (T
Other assets and liabilities (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Details of Other Assets and Liabilities | The following table sets forth the details of other assets and liabilities at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in millions of yen) Other assets: Accounts receivable: Receivables from brokers, dealers and customers for securities transactions 783,439 898,924 Other 358,702 416,064 Collateral pledged: Collateral pledged for derivative transactions 1,246,026 1,079,050 Margins provided for futures contracts 602,039 316,791 Other 941,167 909,155 Prepaid pension cost 711,981 986,767 Right-of-use 613,068 586,365 Security deposits 107,294 108,204 Loans held for sale 60,084 22,404 Other 542,079 540,514 Total 5,965,879 5,864,238 Other liabilities: Accounts payable: Payables to brokers, dealers and customers for securities transactions 2,161,075 2,065,408 Other 375,127 365,446 Guaranteed trust principal ( Note 824,431 808,172 Lease liabilities 627,250 600,087 Collateral accepted: Collateral accepted for derivative transactions 846,426 587,426 Margins accepted for futures contracts 797,317 558,138 Unearned income 122,072 120,352 Other 1,244,697 1,194,591 Total 6,998,395 6,299,620 Note: Guaranteed trust principal, included in All other liabilities in the disclosure about consolidated VIEs in the accompanying balance sheets, is a liability of certain consolidated trust arrangements that meet the definition of a VIE for which the MHFG Group provides guarantees for the repayment of principal. See Note 15 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. |
Preferred and common stock (Tab
Preferred and common stock (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Preferred stock | |
Schedule of Stock by Class | The composition of preferred stock at March 31, 2020 and September 30, 2020 is as follows: Class of stock March 31, 2020 September 30, 2020 Authorized Issued Authorized Issued (number of shares) Class XIV preferred stock 90,000,000 — 90,000,000 — Class XV preferred stock 90,000,000 — 90,000,000 — Class XVI preferred stock 150,000,000 — 150,000,000 — |
Accumulated other comprehensi_2
Accumulated other comprehensive income (loss), net of tax (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Changes in Each Component of AOCI | Changes in each component of Accumulated other comprehensive income (loss), net of tax (“AOCI”) for the six months ended September 30, 2019 and 2020 are as follows: Six months ended September 30, 2019 2020 (in millions of yen) AOCI, balance at beginning of period, previously reported 164,021 (9,494 ) Cumulative effect of change in accounting principles (Note) (1,052 ) — AOCI, balance at beginning of period, adjusted 162,969 (9,494 ) Net unrealized gains (losses) on available-for-sale Balance at beginning of period 22,019 (19,592 ) Unrealized holding gains (losses) during period 25,843 644 Less: reclassification adjustments for losses (gains) included in net income (20,824 ) 754 Change during period 5,019 1,398 Balance at end of period 27,038 (18,194 ) Foreign currency translation adjustments: Balance at beginning of period, previously reported (58,558 ) (109,872 ) Cumulative effect of change in accounting principles (Note) (1,052 ) — Balance at beginning of period, adjusted (59,610 ) (109,872 ) Foreign currency translation adjustments during period (63,466 ) (36,652 ) Less: reclassification adjustments for losses (gains) included in net income — (409 ) Change during period (63,466 ) (37,061 ) Balance at end of period (123,076 ) (146,933 ) Pension liability adjustments: Balance at beginning of period 196,446 69,455 Unrealized gains (losses) during period (1,720 ) 190,394 Less: reclassification adjustments for losses (gains) included in net income (2,130 ) 672 Change during period (3,850 ) 191,066 Balance at end of period 192,596 260,521 Own credit risk adjustments: Balance at beginning of period 4,114 50,515 Unrealized gains (losses) during period 7,320 (9,340 ) Less: reclassification adjustments for losses (gains) included in net income (1,277 ) (2,732 ) Change during period 6,043 (12,072 ) Balance at end of period 10,157 38,443 Total other comprehensive income (loss), net of tax attributable to MHFG shareholders (56,254 ) 143,331 AOCI, balance at end of period 106,715 133,837 Note: The MHFG Group adopted ASU No.2017-12, No.2017-12”) No.2017-12 |
Amounts Reclassified Out of Accumulated Other Comprehensive Income into Net Income | The following table shows the amounts reclassified out of AOCI into net income during the six months ended September 30, 2020: Six months ended September 30, 2020 Before tax (1) Tax effect (2) Net of tax before allocation to noncontrolling interests Net of tax attributable to noncontrolling interests (2) Net of tax attributable to MHFG shareholders (in millions of yen) Amounts reclassified out of AOCI into net income: Affected line items in the Net unrealized gains (losses) on available-for-sale (1,065 ) 306 (759 ) 5 (754 ) Investment gains (losses)-net Provision (credit) for credit Foreign currency translation adjustments 409 — 409 — 409 Foreign exchange gains (losses)-net Pension liability adjustments (1,004 ) 321 (683 ) 11 (672 ) Salaries and employee benefits Own credit risk adjustments 4,111 (1,259 ) 2,852 (120 ) 2,732 Other noninterest income (expenses) Total 2,451 (632 ) 1,819 (104 ) 1,715 Notes: (1) The financial statement li n e (2) The financial statement line items in which the amounts in the Tax effect and the Net of tax attributable to noncontrolling interest columns are reported in the consolidated statements of income are Income tax expense and Net income, respectively. |
Regulatory matters (Tables)
Regulatory matters (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Capital Adequacy Ratios of MHFG, MHBK, and MHTB Calculated in Accordance with Japanese GAAP and Guidelines Established by Financial Services Agency | Capital adequacy ratios and leverage ratios of MHFG, MHBK, and MHTB as of March 31, 2020 and September 30, 2020 calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency are set forth in the following table: March 31, 2020 September 30, 2020 Amount Ratio Amount Ratio (in billions of yen, except percentages) Consolidated: MHFG: Common Equity Tier 1 capital: Required (1) 4,978 8.01 5,159 8.01 Actual 7,245 11.65 7,453 11.57 Tier 1 capital: Required (1) 5,910 9.51 6,125 9.51 Actual 9,024 14.52 9,468 14.69 Total risk-based capital: Required (1) 7,152 11.51 7,413 11.51 Actual 10,722 17.25 11,133 17.28 Leverage Ratio: Required 6,629 3.00 5,874 (2) 3.00 Actual 9,024 4.08 9,468 (2) 4.83 MHBK: Common Equity Tier 1 capital: Required 2,567 4.50 2,689 4.50 Actual 6,501 11.39 6,756 11.30 Tier 1 capital: Required 3,422 6.00 3,585 6.00 Actual 8,275 14.50 8,765 14.66 Total risk-based capital: Required 4,563 8.00 4,780 8.00 Actual 9,865 17.29 10,338 17.30 Leverage Ratio: Required 6,160 3.00 5,450 (2) 3.00 Actual 8,275 4.02 8,765 (2) 4.82 MHTB: Common Equity Tier 1 capital: Required 93 4.50 87 4.50 Actual 489 23.64 509 26.24 Tier 1 capital: Required 124 6.00 116 6.00 Actual 489 23.66 509 26.24 Total risk-based capital: Required 165 8.00 155 8.00 Actual 491 23.74 510 26.27 Leverage Ratio: Required 216 3.00 156 (2) 3.00 Actual 489 6.79 509 (2) 9.79 March 31, 2020 September 30, 2020 Amount Ratio Amount Ratio (in billions of yen, except percentages) Non-consolidated: MHBK: Common Equity Tier 1 capital: Required 2,403 4.50 2,525 4.50 Actual 6,130 11.47 6,369 11.34 Tier 1 capital: Required 3,204 6.00 3,367 6.00 Actual 7,905 14.80 8,381 14.93 Total risk-based capital: Required 4,272 8.00 4,489 8.00 Actual 9,482 17.75 9,943 17.71 Leverage Ratio: Required 5,884 3.00 5,178 (2) 3.00 Actual 7,905 4.03 8,381 (2) 4.85 MHTB: Common Equity Tier 1 capital: Required 93 4.50 87 4.50 Actual 475 23.10 494 25.49 Tier 1 capital: Required 123 6.00 116 6.00 Actual 475 23.10 494 25.49 Total risk-based capital: Required 165 8.00 155 8.00 Actual 477 23.18 494 25.52 Leverage Ratio: Required 214 3.00 153 (2) 3.00 Actual 475 6.66 494 (2) 9.66 Notes: (1) The required ratios disclosed above, at March 31, 2020 and September 30, 2020, include the capital conservation buffer of 2.5%, the countercyclical capital buffer of 0.01%, and the additional loss absorbency requirements for global systemically important banks (“G-SIBs”) (“D-SIBs”) (2) The required and actual amounts disclosed above at September 30, 2020 exclude amounts of deposits to the Bank of Japan. |
Earnings per common share (Tabl
Earnings per common share (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Computation of Basic and Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 2020 (in millions of yen) Net income: Net income attributable to MHFG common shareholders 212,984 315,886 Effect of dilutive securities — — Net income attributable to common shareholders after assumed conversions 212,984 315,886 Six months ended September 30, 2019 2020 (thousands of shares) Shares: Weighted average common shares outstanding 2,536,800 2,537,272 Effect of dilutive securities: Stock options and the common shares of MHFG under the stock compensation programs (Note) 209 93 Weighted average common shares after assumed conversions 2,537,009 2,537,365 Six months ended September 30, 2019 2020 (in yen) Earnings per common share: Basic net income per common share 83.96 124.50 Diluted net income per common share (Note) 83.95 124.49 Note: For the six months ended September 30, 2020, the performance-based plan under the stock compensation programs could potentially dilute earnings per common share but were not included in the computation of diluted earnings per common share due to their antidilutive effects. |
Income taxes (Tables)
Income taxes (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Components of Income Tax Expense | The following table presents the components of Income tax expense for the six months ended September 30, 2019 and 2020: Six months ended 2019 2020 (in millions of yen) Current tax expense 88,437 79,954 Deferred tax expense (benefit) (5,317 ) 57,807 Total income tax expense 83,120 137,761 |
Detailed Amounts of Tax Effects of Items Recorded Directly in Equity | The preceding table does not reflect the tax effects of items recorded directly in Equity for the six months ended September 30, 2019 and 2020. The detailed amounts recorded directly in Equity are as follows: Six months ended 2019 2020 (in millions of yen) Net unrealized gains (losses) on available-for-sale Unrealized gains (losses) 11,023 579 Less: reclassification adjustments (9,192 ) 306 Total 1,831 885 Pension liability adjustments: Unrealized gains (losses) (643 ) 83,994 Less: reclassification adjustments (937 ) 321 Total (1,580 ) 84,315 Own credit risk adjustments: Unrealized gains (losses) (43 ) (2,351 ) Less: reclassification adjustments (588 ) (1,259 ) Total (631 ) (3,610 ) Total tax effect before allocation to noncontrolling interests (380 ) 81,590 |
Pension and other employee be_2
Pension and other employee benefit plans (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Components of Net Periodic Benefit Cost of Severance Indemnities and Pension Plans | The following table summarizes the components of net periodic benefit cost of the severance indemnities and pension plans of the MHFG Group for the six months ended September 30, 2019 and 2020: Six months ended 2019 2020 (in millions of yen) Service cost-benefits earned during the period 22,729 22,695 Interest costs on projected benefit obligations 2,666 2,931 Expected return on plan assets (20,158 ) (20,073 ) Amortization of prior service cost (benefits) 19 205 Amortization of net actuarial loss (gain) (3,064 ) 836 Special termination benefits 2,188 4,981 Net periodic benefit cost 4,380 11,575 |
Derivative financial instrume_2
Derivative financial instruments (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Summary of Notional and Fair Value Amounts of Derivative Instruments Outstanding | The following table summarizes the notional and fair value amounts of derivative instruments outstanding as of March 31, 2020 and September 30, 2020. The fair values of derivatives are presented on a gross basis, derivative receivables and payables are not offset. In addition, they are not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under master netting agreements in the consolidated balance sheets, or the table below. Fair value Derivative receivables (2) Derivative payables (2) March 31, 2020 Notional amount (1) Designated as hedges Not designated as hedges Designated as hedges Not designated as hedges (in billions of yen) Interest rate contracts 1,123,546 — 7,232 — 6,788 Foreign exchange contracts 185,359 — 2,926 — 2,899 Equity-related contracts 6,684 — 310 — 266 Credit-related contracts 4,676 — 30 — 29 Other contracts 400 — 38 — 39 Total 1,320,665 — 10,536 — 10,021 Fair value Derivative receivables (2) Derivative payables (2) September 30, 2020 Notional amount (1) Designated as hedges Not designated as hedges Designated as hedges Not designated as hedges (in billions of yen) Interest rate contracts 1,084,971 — 6,135 — 5,728 Foreign exchange contracts 174,856 — 2,143 — 2,160 Equity-related contracts 7,012 — 397 — 260 Credit-related contracts 7,742 — 55 — 77 Other contracts 397 — 28 — 26 Total 1,274,978 — 8,758 — 8,251 Notes: (1) Notional amount includes the sum of gross long and gross short third-party contracts. (2) Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. |
Summary of Notional and Fair Value Amounts of Credit Derivatives | The following table summarizes the notional and fair value amounts of credit derivatives at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 Notional amount Fair value Notional amount Fair value (in billions of yen) Credit protection written: Investment grade 1,400 (5 ) 2,687 37 Non-investment 416 — 530 8 Total 1,816 (5 ) 3,217 45 Credit protection purchased 3,028 6 4,693 (67 ) Note: The rating scale is based upon either the external ratings or the internal ratings of the underlying reference credit. The lowest investment grade rating is considered to be BBB - non-investment Non-investment |
Maximum Potential Amount of Future Payments for Credit Protection Written by Expiration Period | The following table shows the maximum potential amount of future payments for credit protection written by expiration period at March 31, 2020 and September 30, 2020: Maximum payout/Notional amount March 31, 2020 September 30, 2020 (in billions of yen) One year or less 270 233 After one year through five years 1,368 2,793 After five years 178 191 Total 1,816 3,217 Note: The maximum potential amount of future payments is the aggregate notional amount of the credit derivatives where the Group wrote the credit protection, and it has not been reduced by the effect of any amounts that the Group may possibly collect on the underlying assets and the related cash flows, nor netted against that of credit protection purchased. |
Quantitative Information about Derivative Instruments with Credit-risk-related Contingent Features | The following table shows the quantitative information about derivative instruments with credit-risk-related contingent features at March 31, 2020 and September 30, 2020: March 31, September 30, (in billions of yen) Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions 888 747 Collateral provided to counterparties in the normal course of business 818 703 Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered 70 44 |
Not Designated as Hedging Instrument | |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table summarizes gains and losses on derivatives not designated or qualifying as hedges during the six months ended September 30, 2019 and 2020: Gains (losses) recorded in income for six months ended September 30, 2019 2020 (in millions of yen) Interest rate contracts 210,909 32,791 Foreign exchange contracts (30,736 ) 26,277 Equity-related contracts (1) (494 ) (31,999 ) Credit-related contracts (2) (3,546 ) (29,219 ) Other contracts (1,650 ) 26,692 Total 174,483 24,542 Notes: (1) The net gains (losses) excluded from the assessment of the effectiveness of fair value hedges is not included (2) Amounts include the net gains (losses) of ¥(426) million and ¥(1,221) million on the credit derivatives economically managing the credit risk of loans during the six months ended September 30, 2019 and 2020, respectively. |
Net Investment Hedging | Designated as Hedging Instrument | |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table summarizes gains and losses information related to net investment hedges for the six months ended September 30, 2019 and 2020: Gains (losses) recorded in other for six months ended September 30, 2019 2020 (in millions of yen) Financial instruments hedging foreign exchange risk (1,044 ) 1,538 Total (1,044 ) 1,538 Note: Related to the net investment hedges, gains (losses) of ¥(260) million and ¥(1,312) million were reclassified |
Commitments and contingencies (
Commitments and contingencies (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Summary of Maximum Potential Amount of Future Payments under Guarantees | the MHFG Group is exposed to unlimited losses; therefore, the table shows the notional amounts of the contracts as a substitute for the maximum exposure. March 31, 2020 September 30, 2020 (in billions of yen) Performance guarantees 2,456 2,527 Guarantees on loans 301 266 Guarantees on securities 110 96 Other guarantees 2,314 2,306 Guarantees for the repayment of trust principal 59 31 Liabilities of trust accounts 446 456 Derivative financial instruments 21,756 21,097 |
Summary of Contractual Amounts with Regard to Undrawn Commitments | The table below summarizes the contractual amounts with regard to these undrawn commitments at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in billions of yen) Commitments to extend credit (Note) 76,633 86,359 Commercial letters of credit 690 537 Total 77,323 86,896 Note: Commitments to extend credit include commitments to invest in securities. |
Performance guarantees, Guarantees on loans, Guarantees on securities and Other guarantees | |
Summary of Maximum Potential Amount of Future Payments under Guarantees | The table below presents the maximum potential amount of future payments of performance guarantees, guarantees on loans, guarantees on securities and other guarantees classified based on internal ratings at March 31, 2020 and September 30, 2020: March 31, 2020 September 30, 2020 (in billions of yen) Investment grade 4,233 4,079 Non-investment 948 1,116 Total 5,181 5,195 Note: Investment grade in the internal rating scale generally corresponds to BBB- |
Variable interest entities an_2
Variable interest entities and securitizations (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Schedule of Variable Interest Entities | The table below shows the consolidated assets of the Group’s consolidated VIEs as well as total assets and maximum exposure to loss for its significant unconsolidated VIEs, in which the Group has determined that its maximum exposure to loss is greater than specific thresholds or meets certain other criteria as of March 31, 2020 and September 30, 2020: Consolidated VIEs Significant unconsolidated VIEs March 31, 2020 Consolidated assets Total assets Maximum exposure to (in billions of yen) Asset-backed commercial paper/loan programs 2,160 — — Asset-backed securitizations 572 77 7 Investments in securitization products 370 — — Investment funds 2,694 2,299 514 Trust arrangements and other 19 — — Total 5,815 2,376 521 Consolidated VIEs Significant unconsolidated VIEs September 30, 2020 Consolidated assets Total assets Maximum exposure to (in billions of yen) Asset-backed commercial paper/loan programs 2,045 — — Asset-backed securitizations 780 77 8 Investments in securitization products 370 — — Investment funds 2,283 2,346 483 Trust arrangements and other 5,557 — — Total 11,035 2,423 491 |
Unconsolidated VIEs | |
Schedule of Variable Interest Entities | The tables below present the carrying amounts and classification of assets and liabilities on the MHFG Group’s balance sheets that relate to its variable interests in significant unconsolidated VIEs, as of March 31, 2020 and September 30, 2020: Assets on balance sheets related to unconsolidated VIEs: March 31, 2020 September 30, 2020 (in billions of yen) Trading account assets 108 113 Investments 267 231 Loans 55 58 Total 430 402 Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: March 31, 2020 September 30, 2020 (in billions of yen) Payables under securities lending transactions 47 48 Trading account liabilities 2 2 Total 49 50 Maximum exposure to loss (Note) 521 491 Note: This represents the maximum amount the Group could possibly be required to record in its consolidated statements of income associated with on-balance-sheet off-balance-sheet |
Noninterest income (Tables)
Noninterest income (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Summary of Noninterest Income | Details of Noninterest income for t Six months ended September 30, 2019 2020 (in millions of yen) Fee and commission income: Securities-related business (1) 64,498 78,441 Deposits-related business (1) 7,570 7,408 Lending-related business (2)(4) 68,609 79,619 Remittance business (1) 56,075 54,785 Asset management business (1) 48,291 45,948 Trust-related business (1) 56,459 54,425 Agency business (1) 15,152 15,064 Guarantee-related business (3) 13,898 15,560 Fees for other customer services (1) 73,440 77,067 Total Fee and commission income 403,992 428,317 Foreign exchange gains (losses)—net (3) 27,923 22,785 Trading account gains (losses)—net (2) 395,405 257,591 Investment gains (losses)—net: Debt securities (3) 31,092 46 Equity securities (3) (126,648 ) 266,119 Equity in earnings (losses) of equity method investees-net (3) 22,066 5,788 Gains on disposal of premises and equipment (3) 1,693 6,849 Other noninterest income (2)(5) 34,839 23,715 Total 790,362 1,011,210 Notes: (1) These amounts are revenues from contracts within the scope of ASC 606, “Revenue from contracts with customers” (“ASC 606”). (2) Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606. (3) These amounts are revenues from contracts that do not meet the scope of ASC 606. (4) Most of the lending-related fees such as commitment fees and arrangement fees are not within the scope of ASC 606. (5) These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details. |
Fair value (Tables)
Fair value (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis, Including Fair Value Option Elected | Assets and liabilities measured at fair valu e March 31, 2020 Level 1 Level 2 Level 3 Assets/ Liabilities measured at fair value (in billions of yen) Assets: Trading securities (1) Japanese government bonds 1,516 22 — 1,538 Japanese local government bonds — 170 — 170 U.S. Treasury bonds and federal agency securities 4,580 461 — 5,041 Other foreign government bonds 1,128 547 — 1,675 Agency mortgage-backed securities — 3,390 — 3,390 Residential mortgage-backed securities — — 10 10 Certificates of deposit and commercial paper — 1,036 — 1,036 Corporate bonds and other (2) 41 1,398 1,115 2,554 Equity securities 1,000 650 30 1,680 Trading securities measured at net asset value (3) 462 Derivative financial instruments: Interest rate contracts 153 7,070 9 7,232 Foreign exchange contracts 9 2,900 17 2,926 Equity-related contracts 169 125 16 310 Credit-related contracts — 22 8 30 Other contracts 3 11 24 38 Available-for-sale Japanese government bonds 11,950 653 — 12,603 Japanese local government bonds — 273 — 273 U.S. Treasury bonds and federal agency securities 935 — — 935 Other foreign government bonds 436 975 — 1,411 Agency mortgage-backed securities — 505 — 505 Residential mortgage-backed securities — 53 31 84 Commercial mortgage-backed securities — — 615 615 Japanese corporate bonds and other debt securities — 1,678 157 1,835 Foreign corporate bonds and other debt securities — 678 174 852 Equity securities: Equity securities with readily determinable fair values 2,670 95 — 2,765 Equity securities measured at net asset value (3) 72 Other investments — — 39 39 Total assets measured at fair value on a recurring basis 24,590 22,712 2,245 50,081 Liabilities: Trading securities sold, not yet purchased 1,880 515 — 2,395 Derivative financial instruments: Interest rate contracts 163 6,611 14 6,788 Foreign exchange contracts 8 2,890 1 2,899 Equity-related contracts 186 47 33 266 Credit-related contracts — 19 10 29 Other contracts 6 10 23 39 Long-term debt (4) — 1,916 621 2,537 Total liabilities measured at fair value on a recurring basis 2,243 12,008 702 14,953 September 30, 2020 Level 1 Level 2 Level 3 Assets/ Liabilities measured at fair value (in billions of yen) Assets: Trading securities (1) Japanese government bonds 3,257 11 — 3,268 Japanese local government bonds — 138 — 138 U.S. Treasury bonds and federal agency securities 4,963 829 — 5,792 Other foreign government bonds 938 526 — 1,464 Agency mortgage-backed securities — 4,348 — 4,348 Residential mortgage-backed securities — — 9 9 Certificates of deposit and commercial paper — 1,259 — 1,259 Corporate bonds and other (2) 22 1,348 1,085 2,455 Equity securities 929 570 30 1,529 Trading securities measured at net asset value (3) 447 Derivative financial instruments: Interest rate contracts 40 6,088 7 6,135 Foreign exchange contracts — 2,123 20 2,143 Equity-related contracts 98 287 12 397 Credit-related contracts — 52 3 55 Other contracts 3 10 15 28 Available-for-sale Japanese government bonds 19,600 320 — 19,920 Japanese local government bonds — 407 — 407 U.S. Treasury bonds and federal agency securities 627 — — 627 Other foreign government bonds 430 926 — 1,356 Agency mortgage-backed securities — 520 — 520 Residential mortgage-backed securities — 53 27 80 Commercial mortgage-backed securities — — 641 641 Japanese corporate bonds and other debt securities — 1,579 491 2,070 Foreign corporate bonds and other debt securities — 747 178 925 Equity securities: Equity securities with readily determinable fair values 2,976 40 — 3,016 Equity securities measured at net asset value (3) 83 Other investments — — 56 56 Total assets measured at fair value on a recurring basis 33,883 22,181 2,574 59,168 Liabilities: Trading securities sold, not yet purchased 2,051 268 20 2,339 Derivative financial instruments: Interest rate contracts 39 5,679 10 5,728 Foreign exchange contracts — 2,159 1 2,160 Equity-related contracts 128 109 23 260 Credit-related contracts — 75 2 77 Other contracts 4 8 14 26 Long-term debt (4) — 2,164 638 2,802 Total liabilities measured at fair value on a recurring basis 2,222 10,462 708 13,392 Notes: (1) Trading securities include foreign currency denominated s (2) The amount includes CLO and convertible bonds, which are classified in Level 3. (3) In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented for these classes of assets are intended to permit the reconciliation of the fair value hierarchy to the amounts presented in the statements of financial position. The amounts of unfunded commitments related to these investments at March 31, 2020 and September 30, 2020 were ¥47 billion and ¥ 56 (4) Amounts represent items for which the Group elected the fair value option or for which it applied the practicability exception. |
Reconciliation for All Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | The following table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended September 30, 2019 and 2020: Six months ended September 30, 2019 April 1, 2019 Gains (losses) in Earnings Gains (losses) in OCI Transfers into Level 3 Transfers out of Level 3 Purchases Sales Issuances Settle- ments September 30, 2019 Change in unrealized gains (losses) still held (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 11 — (2) — — — — — — (1 ) 10 — Corporate bonds and other 1,044 (15 ) (2) — — — 338 (105 ) — (125 ) 1,137 (14 ) Equity securities 28 2 (2) — — — 1 — — (1 ) 30 — Derivative financial instruments, net (1) Interest rate contracts 13 (9 ) (2) — — — — — — 1 5 (8 ) Foreign exchange contracts 22 (10 ) (2) — — — — — — (2 ) 10 (9 ) Equity-related contracts (5 ) 1 (2) — — — — — — (3 ) (7 ) 2 Credit-related contracts 1 — (2) — — — — — — — 1 — Other contracts 1 — (2) — — — — — — — 1 — Available-for-sale Residential mortgage-backed securities 40 — (3) — (4) — — — — — (7 ) 33 — Commercial mortgage-backed securities 500 — (3) 1 (4) — — 89 (35 ) — (6 ) 549 — Japanese corporate bonds and other 120 1 (3) 4 (4) — — 97 — — (53 ) 169 — Foreign corporate bonds and other debt securities 103 — (3) (5 ) (4) — — 38 — — (3 ) 133 — Other investments 35 1 (3) — — — 10 — — (10 ) 36 2 Liabilities: Trading securities sold, not yet purchased 1 — (2) — — — (9 ) 8 — — — — Long-term debt 655 (6 ) (5) — (4) 17 (6 ) — — 108 (134 ) 646 (10 ) Six months ended September 30, 2020 April 1, 2020 Gains (losses) Earnings Gains (losses) OCI Transfers into Level 3 Transfers out of Level 3 Purchases Sales Issuances Settle- ments September 30, 2020 Change in unrealized gains (losses) still held (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 10 — (2) — — — — — — (1 ) 9 — Corporate bonds and other 1,115 18 (2) — — (1 ) 189 (113 ) — (123 ) 1,085 18 Equity securities 30 (2 ) (2) — — — 2 — — — 30 (1 ) Derivative financial instruments, net (1) Interest rate contracts (5 ) (3 ) (2) — — — — — — 5 (3 ) 1 Foreign exchange contracts 16 4 (2) — — — — — — (1 ) 19 5 Equity-related contracts (17 ) 4 (2) — — — — — — 2 (11 ) 3 Credit-related contracts (2 ) 3 (2) — 1 1 — — — (2 ) 1 1 Other contracts 1 — (2) — — — — — — — 1 — Available-for-sale Residential mortgage-backed securities 31 — (3) — (4) — — — — — (4 ) 27 — Commercial mortgage-backed securities 615 — (3) 1 (4) — — 78 (51 ) — (2 ) 641 — Japanese corporate bonds and other debt securities 157 (7 ) (3) 8 (4) — — 344 — — (11 ) 491 — Foreign corporate bonds and other debt securities 174 1 (3) 8 (4) — — 31 — — (36 ) 178 — Other investments 39 (1 ) (3) — — — 38 (1 ) — (19 ) 56 (1 ) Liabilities: Trading securities sold, not yet purchased — — (2) — — — — 20 — — 20 — Long-term debt 621 (37 ) (5) (8 ) (4) 19 (35 ) — — 108 (120 ) 638 (27 ) Notes: (1) Total Level 3 derivative exposures have been netted on the table for presentation purposes only. (2) Gains (losses) in Earnings are reported in Trading account gains (losses)-net, (losses)-net (3) Gains (losses) in Earnings are reported in Investment gains (losses)-net. (4) Gains (losses) in OCI are reported in Other comprehensive income (loss). (5) Gains (losses) in Earnings are reported in Other noninterest income (expenses). (6) Amounts represent total gains or losses recognized in earnings and OCI during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at September 30, 2019 and 2020. The amounts of unrealized gains (losses) in OCI related to Available-for-sale securities and Long-term debt were ¥7 billion and ¥(8) billion, at September 30, 2020, respectively. |
Quantitative Information about Significant Unobservable Inputs Related to Material Classes of Level 3 Assets and Liabilities | Quantitative information about Level 3 fair value measurements The following table presents information about significant unobservable inputs related to the MHFG Group’s material classes of Level 3 assets and liabilities at March 31, 2020 and September 30, 2020: March 31, 2020 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for percentages and basis points) Trading securities and Available-for-sale Residential mortgage-backed securities 41 Discounted cash flow Price-based Prepayment rate Default rate Recovery rate Discount margin 4% - 16% 0% - 1% 100% - 100% 5bps - 170bps 7% 0% 100% 52bps Commercial mortgage-backed securities 615 Discounted cash flow Price-based Discount margin 7bps - 185bps 22bps Corporate bonds and other debt securities 1,446 Discounted cash flow Price-based Prepayment rate (1) Default rate (1) Recovery rate (1) Discount margin (1) Discount margin (2) 13% - 21% 0% - 2% 10% - 70% 61bps - 1,160bps 5bps - 1,528bps 21% 2% 67% 256bps 58bps Derivative financial instruments, net: Interest rate contracts (5 ) Internal valuation model (3) IR – IR correlation Default rate (4) 23% - 100% 0% - 63% Foreign exchange contracts 16 Internal valuation model (3) FX – IR correlation FX – FX correlation Default rate (4) -37% - 49% 56% - 65% 0% - 63% Equity-related contracts (17 ) Internal valuation model (3) Equity – IR correlation Equity correlation Equity volatility 25% - 25% 0% - 100% 13% - 157% Credit-related contracts (2 ) Internal valuation model (3) Default rate Credit correlation 0% - 15% 30% - 100% Long-term debt 621 Internal valuation model (3) IR – IR correlation FX – IR correlation FX – FX correlation Equity – IR correlation Equity – FX correlation Equity correlation Equity volatility Default rate Credit correlation 23% - 100% -37% - 50% 56% - 65% 25% - 25% -33% - 100% 0% - 100% 15% - 157% 0% - 12% 15% - 100% September 30, 2020 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Average (5) (in billions of yen, except for percentages and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 36 Discounted cash flow Price-based Prepayment rate Default rate Recovery rate Discount margin 3% - 16% 0% - 1% 100% - 100% 5bps - 170bps 7% 0% 100% 50bps Commercial mortgage-backed securities 641 Discounted cash flow Price-based Discount margin 6bps - 185bps 21bps Corporate bonds and other debt securities 1,754 Discounted cash flow Price-based Prepayment rate (1) Default rate (1) Recovery rate (1) Discount margin (1) Discount margin (2) 1% - 22% 0% - 3% 10% - 69% 25bps - 173bps 4bps - 696bps 19% 1% 67% 123bps 233bps Derivative financial instruments, net: Interest rate contracts (3) Internal valuation model (3) IR - IR correlation 23% - 100% 76% Foreign exchange contracts 19 Internal valuation model (3) FX - IR correlation FX - FX correlation -27% -52% 46% - 63% 28% 55% Equity-related contracts (11) Internal valuation model (3) Equity - IR correlation Equity correlation Equity volatility 25% - 25% 0% - 100% 12% - 96% 25% 88% 43% Credit-related contracts 1 Internal valuation model (3) Default rate Credit correlation 0% - 7% 35% - 100% 1% 66% Other contracts 1 Internal valuation model (3) Commodity volatility 0% - 57% 36% Long-term debt 638 Internal valuation model (3) IR - IR correlation FX - IR correlation FX - FX correlation Equity - IR correlation Equity - FX correlation Equity correlation Equity volatility Default rate Credit correlation 23% - 100% -27% - 52% 46% - 63% 25% - 25% -33% - 100% 0% - 100% 13% - 96% 0% - 6% 18% - 100% 76% 35% 55% 25% -3% 86% 29% 2% 66% Notes: (1) These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. (2) This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. (3) Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. (4) This input represents the counterparty default rate derived from the MHFG Group’s own internal credit analyses. (5) Averages are calculated by weighting each input by the relative fair value of the respective financial instruments except for derivative related inputs where medians are used. IR = Interest rate FX = Foreign exchange |
Summary of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | The following table shows the fair value hierarchy for these items as of March 31, 2020 and September 30, 2020: March 31, 2020 Total Level 1 Level 2 Level 3 Aggregate (in billions of yen) Assets: Loans 90 — — 90 136 Loans held-for-sale 26 — 20 6 26 Equity securities (without readily determinable fair values) 2 — — 2 2 Premises and equipment - 1 — 1 — 12 Other assets — — — — 3 Goodwill — — — — 2 Total assets measured at fair value on a nonrecurring basis 119 — 21 98 181 September 30, 2020 Total Level 1 Level 2 Level 3 Aggregate (in billions of yen) Assets: Loans 131 — 2 129 200 Loans held-for-sale 17 — 11 6 18 Equity securities (without readily determinable fair values) 1 — — 1 2 Other investment s 52 31 — 21 59 Premises and equipment - — — — — 1 Total assets measured at fair value on a nonrecurring basis 201 31 13 157 280 Note: The fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred. Accordingly, the carrying values may not equal current fair value. |
Carrying Amounts and Fair Values of Certain Financial Instruments, Excluding Financial Instruments Carried at Fair Value on a Recurring Basis and Those outside Scope of ASC 825 | The following table shows the carrying amounts an d March 31, 2020 Carrying amount Estimated fair value Total Level 1 Level 2 Level 3 (in billions of yen) Financial assets: Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing 63,755 63,755 1,318 62,437 — Investments 862 875 493 382 — Loans, net of allowance (Note) 86,914 88,124 — — 88,124 Financial liabilities: Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions 51,954 51,954 29,812 22,142 — Interest-bearing deposits 114,653 114,659 58,935 55,724 — Due to trust accounts 250 250 — 250 — Other short-term borrowings 4,914 4,914 — 4,914 — Long-term debt 7,821 7,708 — 6,813 895 September 30, 2020 Carrying amount Estimated fair value Total Level 1 Level 2 Level 3 (in billions of yen) Financial assets: Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing 58,623 58,623 42,233 16,390 — Investments 790 812 491 321 — Loans, net of allowance (Note) 89,611 90,983 — — 90,983 Financial liabilities: Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions 53,640 53,640 — 53,640 — Interest-bearing deposits 118,333 118,347 — 118,347 — Due to trust accounts 564 564 — 564 — Other short-term borrowings 7,526 7,526 — 7,526 — Long-term debt 8,266 8,493 — 7,155 1,338 Note: Loans, net of allowance include items measured at fair value on a nonrecurring basis. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Information of Offsetting of Financial Assets and Financial Liabilities | The following table p Amounts not offset on the balance sheet (3) Gross amounts recognized Gross amounts offset on the balance sheet Net amounts presented on the balance sheet (2) Financial instruments (4) Cash collateral Net amounts (in billions of yen) March 31, 2020 Assets (1) Derivatives 9,819 — 9,819 (7,723 ) (629 ) 1,467 Receivables under resale agreements 17,347 — 17,347 (17,197 ) — 150 Receivables under securities borrowing transactions 1,753 — 1,753 (1,709 ) — 44 Total 28,919 — 28,919 (26,629 ) (629 ) 1,661 Liabilities (1) Derivatives 9,220 — 9,220 (7,519 ) (1,215 ) 486 Payables under repurchase agreements 17,542 — 17,542 (17,191 ) — 351 Payables under securities lending transactions 626 — 626 (623 ) — 3 Total 27,388 — 27,388 (25,333 ) (1,215 ) 840 September 30, 2020 Assets: Derivatives 8,758 — 8,758 ( 5 (6,373 ) (486 ) 1,899 Receivables under resale agreements 12,666 — 12,666 ( 6 (11,479 ) — 1,187 Receivables under securities borrowing transactions 2,186 — 2,186 ( 7 (1,846 ) — 340 Total 23,610 — 23,610 (19,698 ) (486 ) 3,426 Liabilities: Derivatives 8,251 — 8,251 ( 5 (6,148 ) (930 ) 1,173 Payables under repurchase agreements 19,326 — 19,326 ( 6 (18,038 ) — 1,288 Payables under securities lending 1,476 — 1,476 ( 7 (1,235 ) — 241 Total 29,053 — 29,053 (25,421 ) (930 ) 2,702 Notes: (1) Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter (“OTC”) and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. (2) Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. (3) Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. (4) For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. (5) The amounts of derivative assets and liabilities subject to enforceable master netting arrangements or similar agreements at September 30, 2020 were ¥8,154 billion and ¥7,528 billion, respectively. (6) The amounts of Receivables under resale agreements and Payables under repurchase agreements subject to enforceable industry standard master repurchase agreements with netting terms at September 30, 2020 were ¥11,490 billion and ¥18,755 billion, respectively . (7) The amounts of Receivables under securities borrowing transactions and Payables under securities lending transactions subject to enforceable industry standard master lending agreements with netting terms at September 30, 2020 were ¥1,915 billion and ¥1,243 billion, respectively . |
Repurchase agreements and sec_2
Repurchase agreements and securities lending transactions accounted for as secured borrowings (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Gross Amounts of Liabilities by Remaining Contractual Maturity | The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2020 and September 30, 2020: Overnight and continuous Up to 30 days 31-90 days Greater than 90 days Total (in billions of yen) March 31, 2020 Repurchase agreements 6,357 5,467 4,867 1,280 17,971 Securities lending transactions 877 231 — 316 1,424 Total 7,234 5,698 4,867 1,596 19,395 September 30, 2020 Repurchase agreements 10,154 3,684 3,162 2,326 19,326 Securities lending transactions 798 298 50 330 1,476 Total 10,952 3,982 3,212 2,656 20,802 |
Gross Amounts of Liabilities by Class of Underlying Collateral | The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2020 and September 30, 2020: Repurchase agreements Securities lending transactions (in billions of yen) March 31, 2020 Japanese government bonds and Japanese local government bonds 1,790 269 Foreign government bonds and foreign agency mortgage-backed securities 15,218 359 Commercial paper and corporate bonds 273 50 Equity securities 542 730 Other 148 16 Total (Note) 17,971 1,424 September 30, 2020 Japanese government bonds and Japanese local government bonds 3,355 372 Foreign government bonds and foreign agency mortgage-backed securities 15,100 368 Commercial paper and corporate bonds 209 53 Equity securities 579 668 Other 83 15 Total (Note) 19,326 1,476 Note: Amounts exceeded the gross amounts recognized in Note 18 “Offsetting of financial assets and financial liabilities” by ¥1,227 billion and ¥804 billion, at March 31, 2020 and September 30, 2020, respectively, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off |
Business segment information (T
Business segment information (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Reportable Segment Information Derived from Internal Management Reporting Systems, on Basis of Japanese GAAP | The reportable segment information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices. In addition, the format and information are presented primarily on the basis of Japanese GAAP. Therefore, they are not consistent with the consolidated financial statements prepared in accordance with U.S. GAAP. A reconciliation is provided for the total amount of all business segments’ “Net business profits (losses) + Net gains (losses) related to ETFs and others” with income before income tax expense under U.S. GAAP, and the total amount of all business segments’ “Fixed assets” with the total amount of Premises and equipment-net, right-of-use MHFG (Consolidated) Six months ended September 30, 2019 (1) Retail & Business Banking Company Corporate & Institutional Company Global Corporate Company Global Markets Company Asset Management Company Others (6) Total (in billions of yen) Gross profits + Net gains (losses) related to ETFs and others (2) 322.0 220.2 203.9 235.0 25.5 16.2 1,022.8 General and administrative expenses (3) 330.7 104.0 118.6 101.4 16.4 17.3 688.4 Equity in earnings (losses) of equity method investees—net 6.4 1.1 6.0 — 0.5 5.0 19.0 Amortization of goodwill and others 1.4 0.1 0.2 0.5 3.9 0.5 6.6 Others — — — — — (5.9 ) (5.9 ) Net business profits (losses) (4) (3.7 ) 117.2 91.1 133.1 5.7 (2.5 ) 340.9 Fixed assets (5) 508.2 208.4 160.1 92.8 0.1 732.0 1,701.6 MHFG Six months ended September 30, 2020 Retail & Business Banking Company Corporate & Institutional Company Global Corporate Company Global Markets Company Asset Management Company Others (6) Total (in billions of yen) Gross profits + Net gains (losses) related to ETFs and others (2) 307.4 234.2 222.6 291.5 23.6 14.0 1,093.3 General and administrative expenses (3) 315.0 104.6 121.4 105.6 15.7 17.0 679.3 Equity in earnings (losses) of equity method investees—net 3.6 2.4 5.8 — 0.4 (0.7 ) 11.5 Amortization of goodwill and others 1.1 0.1 0.2 0.4 3.8 0.5 6.1 Net business profits (losses) (4) (5.1 ) 131.9 106.8 185.5 4.5 (4.2 ) 419.4 Fixed assets (5) 518.5 186.3 157.0 90.9 0.1 768.5 1,721.3 Notes: (1) Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates. (2) “Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs non-consolidated (3) “General and administrative expenses” excludes non-allocated (4) Net business profits (losses) is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (as defined above) less general and administrative expenses (excluding non-allocated gains (losses), net) plus equity in earnings (losses) of equity method investees-net (5) “Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and equipment-net; right-of-use (6) “Others” includes the following items: • profits and expenses pertaining to consolidated subsidiaries that are not subject to allocation; • consolidating adjustments, including elimination • equity in earnings (losses) of equity method investees-net • profits and losses pertaining to derivative transactions that reflect the counterparty risk of the individual parties and other factors in determining fair market value. F-73 |
Reconciliation of Total Net Business Profits under Internal Management Reporting Systems to Income Before Income Tax Expense on Consolidated Statements of Income | A reconciliation of “Net business profits (losses) + Net gains (losses) related to ETFs and others” for the six months ended September 30, 2019 and 2020 presented above to income before income tax expense shown on the consolidated statements of income and a reconciliation of “Fixed assets” at September 30, 2019 and 2020 to the total amount of Premises and equipment - right-of-use Six months ended September 30, 2019 (in billions of yen) Net business profits (losses) + Net gains (losses) related to ETFs and others 340.9 419.4 Adjustment to reconcile management reporting to Japanese GAAP: General and administrative expenses: non-allocated 24.5 4.1 Expenses related to portfolio problems (including reversal of (provision for) general reserve for losses on loans) (19.1 ) (84.8 ) Gains on reversal of reserves for possible losses on loans, and others 7.9 3.6 Net gains (losses) related to stocks—Net gains (losses) related to ETFs and others 55.4 (50.5 ) Net extraordinary gains (losses) (5.0 ) 65.8 Others (13.1 ) (24.2 ) Income before income tax expense under Japanese GAAP 391.5 333.4 Adjustment to reconcile Japanese GAAP to U.S. GAAP: Derivative financial instruments and hedging activities 105.0 (12.9 ) Investments (163.9 ) 285.4 Loans — (10.8 ) Allowances for credit losses (1) 0.5 35.8 Premises and equipment (51.5 ) (37.1 ) Land revaluation 0.5 2.7 Business combinations 4.1 (4.3 ) Pension liabilities (27.3 ) (84.5 ) Consolidation of variable interest entities 40.3 36.6 Foreign currency translation 14.3 (0.2 ) Others (3.0 ) 3.7 Income before income tax expense under U.S. GAAP 310.5 547.8 |
Reconciliation of Assets from Segment to Consolidated | As of September 30, (in billions of yen) Fixed assets 1,701.6 1,721.3 U.S. GAAP adjustments (2) 964.5 818.4 Premises and equipment-net right-of-use 2,666.1 2,539.7 Notes: (1) The MHFG Group adopted ASU No.2016-13, 2019-04, 2019-05, 2019-11 off-balance-sheet (2) The U.S. GAAP adjustments are primarily comprised of GAAP differences mainly from right-of-use |
Basis of presentation - Additio
Basis of presentation - Additional Information (Detail) | Jun. 25, 2020 |
Disclosure of Accounting Policies [Line Items] | |
Stockholders equity stock consolidation | 1-for-10 share |
Issued accounting pronounceme_3
Issued accounting pronouncements - Additional Information (Detail) $ in Billions | Apr. 01, 2020USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Financing receivable, allowance for credit loss, period increase (decrease) | $ 176 |
Fresh-start adjustment, increase (decrease), retained earnings (deficit) | $ 125 |
Issued accounting pronounceme_4
Issued accounting pronouncements - Summary of Accounting Standards Update and Change in Accounting Principle (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Apr. 01, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Mar. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | ¥ 622,526 | ¥ 440,855 | ¥ 291,422 | ¥ 307,201 | |
Off-balance sheet, credit loss, liability | 46,000 | ||||
Corporate | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 530,519 | 413,026 | 263,291 | 277,955 | |
Retail | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | ¥ 92,007 | 27,829 | ¥ 28,131 | ¥ 29,246 | |
Cumulative effect of change in accounting principles | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 155,755 | ||||
Off-balance sheet, credit loss, liability | ¥ 20,000 | ||||
Cumulative effect of change in accounting principles | Corporate | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 78,000 | 77,514 | |||
Cumulative effect of change in accounting principles | Retail | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 78,000 | 78,241 | |||
Cumulative effect, period of adoption, adjusted balance | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 596,610 | ||||
Off-balance sheet, credit loss, liability | 66,000 | ||||
Cumulative effect, period of adoption, adjusted balance | Corporate | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | 491,000 | 490,540 | |||
Cumulative effect, period of adoption, adjusted balance | Retail | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Loans and leases receivable, allowance | ¥ 106,000 | ¥ 106,070 |
Investments - Amortized Cost, G
Investments - Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Available-for-Sale and Held-to-Maturity Securities (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | ¥ 26,562,414 | ¥ 19,132,999 |
Gross unrealized gains, available-for-sale securities | 40,782 | 40,504 | |
Gross unrealized losses, available-for-sale securities | 56,396 | 60,551 | |
Fair value, available-for-sale securities | 26,546,800 | 19,112,952 | |
Amortized cost, held-to-maturity securities | [1],[2] | 789,978 | 862,031 |
Gross unrealized gains, held-to-maturity securities | 22,171 | 14,602 | |
Gross unrealized losses, held-to-maturity securities | 0 | 1,303 | |
Total | 812,149 | 875,330 | |
Debt securities | Japanese government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 19,964,553 | 12,651,677 |
Gross unrealized gains, available-for-sale securities | 1,084 | 1,319 | |
Gross unrealized losses, available-for-sale securities | 45,274 | 50,224 | |
Fair value, available-for-sale securities | 19,920,363 | 12,602,772 | |
Amortized cost, held-to-maturity securities | [1],[2] | 479,947 | 479,936 |
Gross unrealized gains, held-to-maturity securities | 11,505 | 13,357 | |
Gross unrealized losses, held-to-maturity securities | 0 | ||
Total | 491,452 | 493,293 | |
Debt securities | Japanese local government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 406,873 | 272,412 |
Gross unrealized gains, available-for-sale securities | 757 | 649 | |
Gross unrealized losses, available-for-sale securities | 446 | 494 | |
Fair value, available-for-sale securities | 407,184 | 272,567 | |
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 625,398 | 927,172 |
Gross unrealized gains, available-for-sale securities | 1,388 | 7,733 | |
Gross unrealized losses, available-for-sale securities | 2 | ||
Fair value, available-for-sale securities | 626,784 | 934,905 | |
Debt securities | Other foreign government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 1,353,376 | 1,408,009 |
Gross unrealized gains, available-for-sale securities | 3,020 | 3,273 | |
Gross unrealized losses, available-for-sale securities | 74 | 202 | |
Fair value, available-for-sale securities | 1,356,322 | 1,411,080 | |
Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [3] | 509,808 | 494,958 |
Gross unrealized gains, available-for-sale securities | [3] | 10,650 | 10,490 |
Gross unrealized losses, available-for-sale securities | [3],[4] | 433 | 434 |
Fair value, available-for-sale securities | [3] | 520,025 | 505,014 |
Amortized cost, held-to-maturity securities | [5] | 310,031 | 382,095 |
Gross unrealized gains, held-to-maturity securities | [5] | 10,666 | 1,245 |
Gross unrealized losses, held-to-maturity securities | [5] | 0 | 1,303 |
Total | [5] | 320,697 | 382,037 |
Debt securities | Residential mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 78,883 | 83,077 |
Gross unrealized gains, available-for-sale securities | 1,220 | 1,405 | |
Gross unrealized losses, available-for-sale securities | 123 | 151 | |
Fair value, available-for-sale securities | 79,980 | 84,331 | |
Debt securities | Commercial mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [1],[2] | 634,537 | 609,559 |
Gross unrealized gains, available-for-sale securities | 6,674 | 5,551 | |
Gross unrealized losses, available-for-sale securities | 69 | 106 | |
Fair value, available-for-sale securities | 641,142 | 615,004 | |
Debt securities | Japanese corporate bonds and other debt securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [6] | 2,066,234 | 1,836,540 |
Gross unrealized gains, available-for-sale securities | [6] | 12,579 | 7,489 |
Gross unrealized losses, available-for-sale securities | [6] | 8,785 | 8,772 |
Fair value, available-for-sale securities | [6] | 2,070,028 | 1,835,257 |
Debt securities | Foreign corporate bonds and other debt securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, net available-for-sale securities | [7] | 922,752 | 849,595 |
Gross unrealized gains, available-for-sale securities | [7] | 3,410 | 2,595 |
Gross unrealized losses, available-for-sale securities | [7] | 1,190 | 168 |
Fair value, available-for-sale securities | [7] | ¥ 924,972 | ¥ 852,022 |
[1] | Accrued interest receivables are excluded from amortized cost, of which the amount was ¥4,153 million at September 30, 2020 and included in Accrued income. | ||
[2] | Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale securities was ¥7,551 million at September 30, 2020. | ||
[3] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥504,953 million and ¥61 million, respectively, at March 31, 2020, and ¥519,974 million and ¥51 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government. | ||
[4] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥40,417 million and ¥0 million, respectively, at March 31, 2020, and ¥0 million and ¥0 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. | ||
[5] | All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. | ||
[6] | Other debt securities presented in this line primarily consist of Japanese asset-backed securities (“ABS”), of which the total fair values was ¥139,888 million at September 30, 2020. | ||
[7] | Other debt securities presented in this line primarily consist of Foreign negotiable certificates of deposit (“NCDs”) and ABS, of which the total fair values were ¥271,387 million at March 31, 2020, and ¥319,044 million at September 30, 2020. |
Investments - Amortized Cost,_2
Investments - Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Available-for-Sale and Held-to-Maturity Securities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 26,546,800 | ¥ 19,112,952 | |
Amortised cost net of allowance for credit loss available for sale securities | [1],[2] | 26,562,414 | 19,132,999 |
Net of Allowance for Credit Loss [Member] | |||
Schedule of Investments [Line Items] | |||
Amortised cost net of allowance for credit loss available for sale securities | 7,551 | ||
Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | [3] | 520,025 | 505,014 |
Amortised cost net of allowance for credit loss available for sale securities | [3] | 509,808 | 494,958 |
Debt securities | Negotiable certificates of deposits, asset- backed securities and collateral loan obligations | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 319,044 | 271,387 | |
Debt securities | Japanese agency mortgage-backed securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 519,974 | 504,953 | |
Debt securities | Foreign agency mortgage-backed securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 51 | 61 | |
Foreign government and corporate debt securities | Japanese agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 139,888 | ||
Available-for sale and held-to-maturity securities | Accrued Income [Member] | |||
Schedule of Investments [Line Items] | |||
Accrued interest receivables | ¥ 4,153 | ||
[1] | Accrued interest receivables are excluded from amortized cost, of which the amount was ¥4,153 million at September 30, 2020 and included in Accrued income. | ||
[2] | Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale securities was ¥7,551 million at September 30, 2020. | ||
[3] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥504,953 million and ¥61 million, respectively, at March 31, 2020, and ¥519,974 million and ¥51 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government. |
Investments - Amortized Cost an
Investments - Amortized Cost and Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | ¥ 16,822,180 | ||
Due after one year through five years, amortized cost | 5,582,146 | ||
Due after five years through ten years,amortized cost | 2,787,606 | ||
Due after ten years, amortized cost | 1,370,482 | ||
Total | 26,562,414 | ||
Due after one year through five years, amortized cost | 479,947 | ||
Due after ten years, amortized cost | 310,031 | ||
Amortized cost, held-to-maturity securities | [1],[2] | 789,978 | ¥ 862,031 |
Due in one year or less, fair value | 16,824,447 | ||
Due after one year through five years, fair value | 5,576,112 | ||
Due after five years through ten years, fair value | 2,763,293 | ||
Due after ten years, fair value | 1,382,948 | ||
Total | 26,546,800 | ||
Due after one year through five years, fair value | 491,452 | ||
Due after ten years, fair value | 320,697 | ||
Total | 812,149 | 875,330 | |
Debt securities | Japanese government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 14,588,119 | ||
Due after one year through five years, amortized cost | 3,630,141 | ||
Due after five years through ten years,amortized cost | 1,550,745 | ||
Due after ten years, amortized cost | 195,548 | ||
Total | 19,964,553 | ||
Due after one year through five years, amortized cost | 479,947 | ||
Amortized cost, held-to-maturity securities | [1],[2] | 479,947 | 479,936 |
Due in one year or less, fair value | 14,586,652 | ||
Due after one year through five years, fair value | 3,619,928 | ||
Due after five years through ten years, fair value | 1,522,868 | ||
Due after ten years, fair value | 190,915 | ||
Total | 19,920,363 | ||
Due after one year through five years, fair value | 491,452 | ||
Total | 491,452 | 493,293 | |
Debt securities | Japanese local government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 30,537 | ||
Due after one year through five years, amortized cost | 209,317 | ||
Due after five years through ten years,amortized cost | 149,994 | ||
Due after ten years, amortized cost | 17,025 | ||
Total | 406,873 | ||
Due in one year or less, fair value | 30,553 | ||
Due after one year through five years, fair value | 209,557 | ||
Due after five years through ten years, fair value | 149,982 | ||
Due after ten years, fair value | 17,092 | ||
Total | 407,184 | ||
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 625,398 | ||
Total | 625,398 | ||
Due in one year or less, fair value | 626,784 | ||
Total | 626,784 | ||
Debt securities | Other foreign government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 1,024,723 | ||
Due after one year through five years, amortized cost | 326,539 | ||
Due after five years through ten years,amortized cost | 1,058 | ||
Due after ten years, amortized cost | 1,056 | ||
Total | 1,353,376 | ||
Due in one year or less, fair value | 1,025,928 | ||
Due after one year through five years, fair value | 328,280 | ||
Due after five years through ten years, fair value | 1,058 | ||
Due after ten years, fair value | 1,056 | ||
Total | 1,356,322 | ||
Debt securities | Agency mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due after ten years, amortized cost | 509,808 | ||
Total | 509,808 | ||
Due after ten years, amortized cost | 310,031 | ||
Amortized cost, held-to-maturity securities | [3] | 310,031 | 382,095 |
Due after ten years, fair value | 520,025 | ||
Total | 520,025 | ||
Due after ten years, fair value | 320,697 | ||
Total | [3] | 320,697 | ¥ 382,037 |
Debt securities | Residential mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due after ten years, amortized cost | 78,883 | ||
Total | 78,883 | ||
Due after ten years, fair value | 79,980 | ||
Total | 79,980 | ||
Debt securities | Commercial mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 6,080 | ||
Due after one year through five years, amortized cost | 252,315 | ||
Due after five years through ten years,amortized cost | 375,342 | ||
Due after ten years, amortized cost | 800 | ||
Total | 634,537 | ||
Due in one year or less, fair value | 6,085 | ||
Due after one year through five years, fair value | 254,025 | ||
Due after five years through ten years, fair value | 380,219 | ||
Due after ten years, fair value | 813 | ||
Total | 641,142 | ||
Debt securities | Japanese corporate bonds and other debt securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 94,088 | ||
Due after one year through five years, amortized cost | 820,338 | ||
Due after five years through ten years,amortized cost | 587,344 | ||
Due after ten years, amortized cost | 564,464 | ||
Total | 2,066,234 | ||
Due in one year or less, fair value | 94,089 | ||
Due after one year through five years, fair value | 819,848 | ||
Due after five years through ten years, fair value | 585,922 | ||
Due after ten years, fair value | 570,169 | ||
Total | 2,070,028 | ||
Debt securities | Foreign corporate bonds and other debt securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 453,235 | ||
Due after one year through five years, amortized cost | 343,496 | ||
Due after five years through ten years,amortized cost | 123,123 | ||
Due after ten years, amortized cost | 2,898 | ||
Total | 922,752 | ||
Due in one year or less, fair value | 454,356 | ||
Due after one year through five years, fair value | 344,474 | ||
Due after five years through ten years, fair value | 123,244 | ||
Due after ten years, fair value | 2,898 | ||
Total | ¥ 924,972 | ||
[1] | Accrued interest receivables are excluded from amortized cost, of which the amount was ¥4,153 million at September 30, 2020 and included in Accrued income. | ||
[2] | Amortized cost, net of the allowance for credit losses, of which the amounts related to available-for-sale securities was ¥7,551 million at September 30, 2020. | ||
[3] | All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. |
Investments - Additional Inform
Investments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Mar. 31, 2020 | |
Gain (Loss) on Securities [Line Items] | ||
Equity method Investments, carrying value | ¥ 412,281 | ¥ 404,513 |
Credit losses on available-for-sale securities | 8,000 | |
Held-to-maturity Securities | ||
Gain (Loss) on Securities [Line Items] | ||
Impairment loss on securities | ¥ 0 | |
Orient Corporation | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 49.00% | |
Chiba Kogya Bank LTD [Member] | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 16.89% | |
Joint Stock Commercial Bank Foreign Trade of Vietnam [Member] | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 15.00% | |
Mizuho Leasing Company LTD [Member] | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 23.52% | |
Matthew International Capital Management LLC [Member] | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 16.41% | |
Custody Bank of Japan Ltd [Member] | ||
Gain (Loss) on Securities [Line Items] | ||
Percentage of proportionate share to the total outstanding common stock | 27.00% | |
Equity securities (marketable) | ||
Gain (Loss) on Securities [Line Items] | ||
Equity method Investments, carrying value | ¥ 215,059 | 213,243 |
Equity method Investments, aggregated market values | ¥ 344,131 | ¥ 287,488 |
Investments - Gross Unrealized
Investments - Gross Unrealized Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities, Aggregated by Length of Time that Individual Securities Have Been in a Continuous Unrealized Loss Position (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | ¥ 11,269,398 | ¥ 11,576,157 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 28,679 | 49,870 | |
12 months or more Fair value, available-for-sale securities | 1,934,619 | 954,032 | |
12 months or more Gross unrealized losses, available-for-sale securities | 27,717 | 10,681 | |
Total Fair value, available-for-sale securities | 13,204,017 | 12,530,189 | |
Total Gross unrealized losses, available-for-sale securities | 56,396 | 60,551 | |
Less than 12 months, Fair value, held-to-maturity securities | 0 | ||
Less than 12 months Gross unrealized losses, held-to-maturity securities | 0 | ||
12 months or more Fair value, held-to-maturity securities | 0 | 191,244 | |
12 months or more Gross unrealized losses, held-to-maturity securities | 0 | 1,303 | |
Total Fair value, held-to-maturity securities | 0 | 191,244 | |
Total Gross unrealized losses, held-to-maturity securities | 0 | 1,303 | |
Debt securities | Japanese government bonds | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 9,978,136 | 10,339,320 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 23,884 | 43,204 | |
12 months or more Fair value, available-for-sale securities | 1,234,118 | 283,561 | |
12 months or more Gross unrealized losses, available-for-sale securities | 21,390 | 7,020 | |
Total Fair value, available-for-sale securities | 11,212,254 | 10,622,881 | |
Total Gross unrealized losses, available-for-sale securities | 45,274 | 50,224 | |
Total Gross unrealized losses, held-to-maturity securities | 0 | ||
Debt securities | Japanese local government bonds | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 126,991 | 162,665 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 246 | 418 | |
12 months or more Fair value, available-for-sale securities | 72,086 | 34,114 | |
12 months or more Gross unrealized losses, available-for-sale securities | 200 | 76 | |
Total Fair value, available-for-sale securities | 199,077 | 196,779 | |
Total Gross unrealized losses, available-for-sale securities | 446 | 494 | |
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 29,093 | ||
Less than 12 months Gross unrealized losses, available-for-sale securities | 2 | ||
12 months or more Fair value, available-for-sale securities | 0 | ||
12 months or more Gross unrealized losses, available-for-sale securities | 0 | ||
Total Fair value, available-for-sale securities | 29,093 | ||
Total Gross unrealized losses, available-for-sale securities | 2 | ||
Debt securities | Other foreign government bonds | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 278,022 | 196,990 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 74 | 202 | |
12 months or more Fair value, available-for-sale securities | 0 | ||
12 months or more Gross unrealized losses, available-for-sale securities | 0 | ||
Total Fair value, available-for-sale securities | 278,022 | 196,990 | |
Total Gross unrealized losses, available-for-sale securities | 74 | 202 | |
Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 30,948 | 30,913 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 202 | 227 | |
12 months or more Fair value, available-for-sale securities | [1] | 9,799 | 9,504 |
12 months or more Gross unrealized losses, available-for-sale securities | [1] | 231 | 207 |
Total Fair value, available-for-sale securities | [1] | 40,747 | 40,417 |
Total Gross unrealized losses, available-for-sale securities | [1],[2] | 433 | 434 |
Less than 12 months, Fair value, held-to-maturity securities | [3] | 0 | |
Less than 12 months Gross unrealized losses, held-to-maturity securities | [3] | 0 | |
12 months or more Fair value, held-to-maturity securities | [3] | 0 | 191,244 |
12 months or more Gross unrealized losses, held-to-maturity securities | [3] | 0 | 1,303 |
Total Fair value, held-to-maturity securities | [3] | 0 | 191,244 |
Total Gross unrealized losses, held-to-maturity securities | [3] | 0 | 1,303 |
Debt securities | Residential mortgage-backed securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 9,567 | 9,524 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 41 | 62 | |
12 months or more Fair value, available-for-sale securities | 6,794 | 5,450 | |
12 months or more Gross unrealized losses, available-for-sale securities | 82 | 89 | |
Total Fair value, available-for-sale securities | 16,361 | 14,974 | |
Total Gross unrealized losses, available-for-sale securities | 123 | 151 | |
Debt securities | Commercial mortgage-backed securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 6,052 | 15,115 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 15 | 85 | |
12 months or more Fair value, available-for-sale securities | 11,396 | 7,478 | |
12 months or more Gross unrealized losses, available-for-sale securities | 54 | 21 | |
Total Fair value, available-for-sale securities | 17,448 | 22,593 | |
Total Gross unrealized losses, available-for-sale securities | 69 | 106 | |
Debt securities | Japanese corporate bonds and other debt securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 565,278 | 669,572 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 3,028 | 5,507 | |
12 months or more Fair value, available-for-sale securities | 597,714 | 608,361 | |
12 months or more Gross unrealized losses, available-for-sale securities | 5,757 | 3,265 | |
Total Fair value, available-for-sale securities | 1,162,992 | 1,277,933 | |
Total Gross unrealized losses, available-for-sale securities | [4] | 8,785 | 8,772 |
Debt securities | Foreign corporate bonds and other debt securities | |||
Gain (Loss) on Securities [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 245,311 | 152,058 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 1,187 | 165 | |
12 months or more Fair value, available-for-sale securities | 2,712 | 5,564 | |
12 months or more Gross unrealized losses, available-for-sale securities | 3 | 3 | |
Total Fair value, available-for-sale securities | 248,023 | 157,622 | |
Total Gross unrealized losses, available-for-sale securities | [5] | ¥ 1,190 | ¥ 168 |
[1] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥40,417 million and ¥0 million, respectively, at March 31, 2020, and ¥0 million and ¥0 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. | ||
[2] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥504,953 million and ¥61 million, respectively, at March 31, 2020, and ¥519,974 million and ¥51 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government. | ||
[3] | All Agency mortgage-backed securities presented in this line are Ginnie Mae securities. | ||
[4] | Other debt securities presented in this line primarily consist of Japanese asset-backed securities (“ABS”), of which the total fair values was ¥139,888 million at September 30, 2020. | ||
[5] | Other debt securities presented in this line primarily consist of Foreign negotiable certificates of deposit (“NCDs”) and ABS, of which the total fair values were ¥271,387 million at March 31, 2020, and ¥319,044 million at September 30, 2020. |
Investments - Gross Unrealize_2
Investments - Gross Unrealized Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities, Aggregated by Length of Time that Individual Securities Have Been in a Continuous Unrealized Loss Position (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Gain (Loss) on Securities [Line Items] | |||
Fair value, available-for-sale securities | ¥ 13,204,017 | ¥ 12,530,189 | |
Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Securities [Line Items] | |||
Fair value, available-for-sale securities | [1] | 40,747 | 40,417 |
Debt securities | Domestic Government Sponsored Enterprises Debt Securities [Member] | Agency mortgage-backed securities | |||
Gain (Loss) on Securities [Line Items] | |||
Fair value, available-for-sale securities | ¥ 40,747 | ¥ 40,417 | |
[1] | Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥40,417 million and ¥0 million, respectively, at March 31, 2020, and ¥0 million and ¥0 million, respectively, at September 30, 2020. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. |
Investments - Realized Gains an
Investments - Realized Gains and Losses on Sales of Available-for-Sale Securities (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Debt Securities, Available-for-sale [Line Items] | ||
Gross realized gains | ¥ 5,101 | ¥ 36,183 |
Gross realized losses | (3,694) | (6,167) |
Net realized gains (losses) on sales of available-for-sale securities | ¥ 1,407 | ¥ 30,016 |
Investments - Summary of Detail
Investments - Summary of Details of Net Gains and Losses on Equity Securities (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Gain (Loss) on Securities [Line Items] | |||
Net gains (losses) recognized during the period on equity securities | [1] | ¥ 266,119 | ¥ (126,648) |
Less: Net gains (losses) recognized during the period on equity securities sold during the period | 34,985 | (3,084) | |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting period | ¥ 231,134 | ¥ (123,564) | |
[1] | These amounts are revenues from contracts that do not meet the scope of ASC 606. |
Investments - Summary of Equity
Investments - Summary of Equity Securities Without Readily Determinable Fair Values (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Equity Securities without Readily Determinable Fair Value [Line Items] | ||
Carrying amounts at the end of the period | ¥ 402,194 | ¥ 419,775 |
Downward adjustments and impairments | 3,800 | 2,435 |
Upward adjustments | ¥ 9,104 | ¥ 9,128 |
Investments - Summary of Downwa
Investments - Summary of Downward Adjustments and Impairments and Upward Adjustments (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Equity Securities without Readily Determinable Fair Value [Line Items] | ||
Downward adjustments and impairments | ¥ 1,411 | ¥ 430 |
Upward adjustments | ¥ 34 | ¥ 6,527 |
Investments - Summary of Compos
Investments - Summary of Composition of Other Investments (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Schedule of Investments [Line Items] | ||
Equity method investments | ¥ 412,281 | ¥ 404,513 |
Investments held by consolidated investment companies | 55,682 | 39,438 |
Total | ¥ 467,963 | ¥ 443,951 |
Loans - Loans Outstanding by Do
Loans - Loans Outstanding by Domicile and Industry of Borrower (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | ¥ 90,632,514 | ¥ 87,677,169 | |
Less: Unearned income and deferred loan fees—net | 156,767 | 149,081 | |
Total loans before allowance for credit losses on loans | 90,475,747 | 87,528,088 | |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 59,594,397 | 56,030,511 | |
Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 11,700,375 | 9,731,028 | |
Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 10,172,843 | 9,603,433 | |
Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 6,294,310 | 5,992,511 | |
Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 5,415,605 | 5,219,727 | |
Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,978,708 | 3,832,884 | |
Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 4,719,863 | 4,634,442 | |
Domestic | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,639,956 | 2,198,805 | |
Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [1] | 5,517,220 | 5,389,347 |
Domestic | Mortgage loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 8,357,042 | 8,567,099 | |
Domestic | Other individual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 798,475 | 861,235 | |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 31,038,117 | 31,646,658 | |
Foreign | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 10,502,326 | 10,475,277 | |
Foreign | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 308,171 | 317,284 | |
Foreign | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 20,190,048 | 20,818,709 | |
Foreign | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | ¥ 37,572 | ¥ 35,388 | |
[1] | Other industries of domestic includes trade receivables and lease receivables of consolidated VIEs. |
Loans - Additional Information
Loans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net losses on sales of loans | ¥ 1,178 | ¥ 179 | |
Loans held for sale | 22,404 | ¥ 60,084 | |
Accrued Income [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accrued interest receivables | 82,321 | ||
Impaired Financing Receivables with No Related Allowance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans partially charged off | ¥ 32,783 | ¥ 20,378 |
Loans - Credit Quality Informat
Loans - Credit Quality Information of Loans Based on MHFG Group's Internal Rating System (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | ¥ 90,632,514 | ¥ 87,677,169 |
Domestic | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 59,594,397 | 56,030,511 |
Foreign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 31,038,117 | 31,646,658 |
Normal obligors | Domestic | Retail | Housing loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 437,780 | |
2019 | 668,358 | |
2018 | 627,669 | |
2017 | 634,528 | |
2016 | 783,929 | |
Prior to 2016 | 4,879,204 | |
Revolving loan | 0 | |
Total | 8,031,468 | |
Total | 8,215,781 | |
Normal obligors | Domestic | Retail | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 327,506 | |
2019 | 209,899 | |
2018 | 152,679 | |
2017 | 106,359 | |
2016 | 102,735 | |
Prior to 2016 | 361,209 | |
Revolving loan | 523,640 | |
Total | 1,784,027 | |
Total | 1,783,779 | |
Watch obligors | Domestic | Retail | Housing loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 560 | |
2019 | 1,178 | |
2018 | 1,827 | |
2017 | 1,579 | |
2016 | 2,217 | |
Prior to 2016 | 43,397 | |
Revolving loan | 0 | |
Total | 50,758 | |
Total | 57,478 | |
Watch obligors | Domestic | Retail | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 36,270 | |
2019 | 17,587 | |
2018 | 11,754 | |
2017 | 6,911 | |
2016 | 4,534 | |
Prior to 2016 | 6,846 | |
Revolving loan | 12,185 | |
Total | 96,087 | |
Total | 81,463 | |
Nonaccrual loans | Domestic | Retail | Housing loan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 18,941 | |
2019 | 6,528 | |
2018 | 1,525 | |
2017 | 1,432 | |
2016 | 1,778 | |
Prior to 2016 | 38,456 | |
Revolving loan | 0 | |
Total | 68,660 | |
Total | 57,696 | |
Nonaccrual loans | Domestic | Retail | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 26,633 | |
2019 | 6,905 | |
2018 | 1,945 | |
2017 | 1,000 | |
2016 | 965 | |
Prior to 2016 | 9,532 | |
Revolving loan | 11,567 | |
Total | 58,547 | |
Total | 59,782 | |
Financing Receivables Not Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 24,824,517 | |
2019 | 16,069,963 | |
2018 | 13,270,550 | |
2017 | 5,523,602 | |
2016 | 4,710,392 | |
Prior to 2016 | 11,263,389 | |
Revolving loan | 14,813,334 | |
Total | 90,475,747 | |
Total | 87,677,169 | |
Financing Receivables Not Impaired | Domestic | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 13,582,965 | |
2019 | 9,421,113 | |
2018 | 9,327,773 | |
2017 | 3,932,938 | |
2016 | 3,869,379 | |
Prior to 2016 | 9,465,007 | |
Revolving loan | 9,923,183 | |
Total | 59,522,358 | |
Total | 56,030,511 | |
Financing Receivables Not Impaired | Foreign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 11,241,552 | |
2019 | 6,648,850 | |
2018 | 3,942,777 | |
2017 | 1,590,664 | |
2016 | 841,013 | |
Prior to 2016 | 1,798,382 | |
Revolving loan | 4,890,151 | |
Total | 30,953,389 | |
Total | 31,646,658 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 1,907,424 | |
2019 | 264,528 | |
2018 | 126,868 | |
2017 | 87,021 | |
2016 | 92,664 | |
Prior to 2016 | 485,721 | |
Revolving loan | 13,700 | |
Total | 2,977,926 | |
Total | 2,559,420 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 15,637 | |
2019 | 155,415 | |
2018 | 261,601 | |
2017 | 26,841 | |
2016 | 85,303 | |
Prior to 2016 | 74,009 | |
Revolving loan | 187,102 | |
Total | 805,908 | |
Total | 790,659 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | Corporate | Large companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 9,754,935 | |
2019 | 7,343,964 | |
2018 | 7,517,546 | |
2017 | 2,710,108 | |
2016 | 2,498,507 | |
Prior to 2016 | 2,978,989 | |
Revolving loan | 8,279,869 | |
Total | 41,083,918 | |
Total | 37,979,353 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | Corporate | Small and medium sized companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 381,487 | |
2019 | 543,822 | |
2018 | 456,363 | |
2017 | 260,146 | |
2016 | 232,638 | |
Prior to 2016 | 485,430 | |
Revolving loan | 502,124 | |
Total | 2,862,010 | |
Total | 2,941,599 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 91,542 | |
2019 | 99,248 | |
2018 | 32,403 | |
2017 | 149,794 | |
2016 | 5,907 | |
Prior to 2016 | 90,988 | |
Revolving loan | 81,008 | |
Total | 550,890 | |
Total | 558,384 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 750,039 | |
2019 | 654,755 | |
2018 | 421,876 | |
2017 | 95,375 | |
2016 | 4,509 | |
Prior to 2016 | 3,536 | |
Revolving loan | 49,997 | |
Total | 1,980,087 | |
Total | 2,008,516 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 10,181,936 | |
2019 | 5,813,342 | |
2018 | 3,419,918 | |
2017 | 1,298,791 | |
2016 | 804,580 | |
Prior to 2016 | 1,624,422 | |
Revolving loan | 4,630,806 | |
Total | 27,773,795 | |
Total | 28,555,991 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 3,613 | |
2019 | 9,806 | |
2018 | 6,008 | |
2017 | 2,956 | |
2016 | 1,517 | |
Prior to 2016 | 2,527 | |
Revolving loan | 102 | |
Total | 26,529 | |
Total | 30,862 | |
Financing Receivables Not Impaired | Watch obligors | Domestic | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 2,859 | |
2019 | 6,914 | |
2018 | 2,951 | |
2017 | 1,134 | |
2016 | 257 | |
Prior to 2016 | 34 | |
Revolving loan | 0 | |
Total | 14,149 | |
Total | 10,939 | |
Financing Receivables Not Impaired | Watch obligors | Domestic | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 0 | |
Total | 0 | |
Total | 0 | |
Financing Receivables Not Impaired | Watch obligors | Domestic | Corporate | Large companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 424,745 | |
2019 | 92,446 | |
2018 | 82,206 | |
2017 | 56,363 | |
2016 | 33,737 | |
Prior to 2016 | 33,847 | |
Revolving loan | 196,544 | |
Total | 919,888 | |
Total | 840,289 | |
Financing Receivables Not Impaired | Watch obligors | Domestic | Corporate | Small and medium sized companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 46,537 | |
2019 | 32,174 | |
2018 | 37,116 | |
2017 | 13,321 | |
2016 | 15,523 | |
Prior to 2016 | 28,933 | |
Revolving loan | 30,521 | |
Total | 204,125 | |
Total | 189,075 | |
Financing Receivables Not Impaired | Watch obligors | Foreign | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 20,124 | |
Revolving loan | 0 | |
Total | 20,124 | |
Total | 19,971 | |
Financing Receivables Not Impaired | Watch obligors | Foreign | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 912 | |
2019 | 152 | |
2018 | 686 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 0 | |
Total | 1,750 | |
Total | 78 | |
Financing Receivables Not Impaired | Watch obligors | Foreign | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 172,225 | |
2019 | 43,785 | |
2018 | 47,998 | |
2017 | 37,862 | |
2016 | 15,899 | |
Prior to 2016 | 35,532 | |
Revolving loan | 84,646 | |
Total | 437,947 | |
Total | 336,470 | |
Financing Receivables Not Impaired | Watch obligors | Foreign | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 174 | |
2019 | 1,110 | |
2018 | 647 | |
2017 | 361 | |
2016 | 109 | |
Prior to 2016 | 11 | |
Revolving loan | 0 | |
Total | 2,412 | |
Total | 858 | |
Financing Receivables Not Impaired | Nonaccrual loans | Domestic | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 0 | |
Total | 0 | |
Total | 0 | |
Financing Receivables Not Impaired | Nonaccrual loans | Domestic | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 167 | |
2019 | 0 | |
2018 | 180 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 1,600 | |
Total | 1,947 | |
Total | 0 | |
Financing Receivables Not Impaired | Nonaccrual loans | Domestic | Corporate | Large companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 142,730 | |
2019 | 55,771 | |
2018 | 41,249 | |
2017 | 20,295 | |
2016 | 11,956 | |
Prior to 2016 | 29,551 | |
Revolving loan | 136,213 | |
Total | 437,765 | |
Total | 343,439 | |
Financing Receivables Not Impaired | Nonaccrual loans | Domestic | Corporate | Small and medium sized companies | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 58,754 | |
2019 | 15,624 | |
2018 | 4,294 | |
2017 | 5,900 | |
2016 | 2,636 | |
Prior to 2016 | 9,849 | |
Revolving loan | 28,118 | |
Total | 125,175 | |
Total | 119,759 | |
Financing Receivables Not Impaired | Nonaccrual loans | Foreign | Soverign | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 0 | |
2019 | 741 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 0 | |
Total | 741 | |
Total | 0 | |
Financing Receivables Not Impaired | Nonaccrual loans | Foreign | Financial institutions borrower | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
2017 | 0 | |
2016 | 0 | |
Prior to 2016 | 0 | |
Revolving loan | 0 | |
Total | 0 | |
Total | 0 | |
Financing Receivables Not Impaired | Nonaccrual loans | Foreign | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 41,085 | |
2019 | 25,405 | |
2018 | 12,954 | |
2017 | 5,422 | |
2016 | 8,448 | |
Prior to 2016 | 21,241 | |
Revolving loan | 43,592 | |
Total | 158,147 | |
Total | 135,522 | |
Financing Receivables Not Impaired | Nonaccrual loans | Foreign | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2020 | 26 | |
2019 | 506 | |
2018 | 287 | |
2017 | 103 | |
2016 | 44 | |
Prior to 2016 | 1 | |
Revolving loan | 0 | |
Total | ¥ 967 | |
Total | ¥ 6 |
Loans - Impaired Loans Informat
Loans - Impaired Loans Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Mar. 31, 2020 | |
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | ¥ 711,063 | ¥ 596,000 |
Nonaccrual loans without an allowance | 140,886 | 120,204 |
Total nonaccrual loans | 851,949 | 716,204 |
Interest income recognized | 5,147 | 10,694 |
Domestic | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 600,768 | 500,711 |
Nonaccrual loans without an allowance | 91,326 | 79,965 |
Total nonaccrual loans | 692,094 | 580,676 |
Interest income recognized | 4,189 | 7,662 |
Domestic | Retail | Housing loan | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 40,358 | 28,263 |
Nonaccrual loans without an allowance | 28,302 | 29,433 |
Total nonaccrual loans | 68,660 | 57,696 |
Interest income recognized | 535 | 937 |
Domestic | Retail | Other | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 36,270 | 36,220 |
Nonaccrual loans without an allowance | 22,277 | 23,562 |
Total nonaccrual loans | 58,547 | 59,782 |
Interest income recognized | 373 | 846 |
Domestic | Large companies | Corporate | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 416,637 | 333,442 |
Nonaccrual loans without an allowance | 21,128 | 9,997 |
Total nonaccrual loans | 437,765 | 343,439 |
Interest income recognized | 2,501 | 4,155 |
Domestic | Small and medium sized companies | Corporate | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 105,556 | 102,786 |
Nonaccrual loans without an allowance | 19,619 | 16,973 |
Total nonaccrual loans | 125,175 | 119,759 |
Interest income recognized | 777 | 1,724 |
Domestic | Banks and other financial institutions | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 1,947 | |
Nonaccrual loans without an allowance | 0 | |
Total nonaccrual loans | 1,947 | |
Interest income recognized | 3 | |
Foreign | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual loans with an allowance | 110,295 | 95,289 |
Nonaccrual loans without an allowance | 49,560 | 40,239 |
Total nonaccrual loans | 159,855 | 135,528 |
Interest income recognized | ¥ 958 | ¥ 3,032 |
Loans - Troubled Debt Restructu
Loans - Troubled Debt Restructurings Entered Modified Periods by Type of Concession Granted (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | ¥ 0 | ¥ 1,159 |
Loan forgiveness or debt to equity swaps charge-offs | 0 | 8,728 | |
Interest rate reduction and/or postponement of principal and/or interest | 426,021 | 257,573 | |
Domestic | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | 689 |
Loan forgiveness or debt to equity swaps charge-offs | 0 | 3,806 | |
Interest rate reduction and/or postponement of principal and/or interest | 345,132 | 218,927 | |
Domestic | Housing loan | Retail | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | |
Loan forgiveness or debt to equity swaps charge-offs | 0 | ||
Interest rate reduction and/or postponement of principal and/or interest | 14,690 | 3,742 | |
Domestic | Other | Retail | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | |
Loan forgiveness or debt to equity swaps charge-offs | 0 | ||
Interest rate reduction and/or postponement of principal and/or interest | 9,130 | 7,468 | |
Domestic | Large companies | Corporate | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | 689 |
Loan forgiveness or debt to equity swaps charge-offs | 0 | 3,806 | |
Interest rate reduction and/or postponement of principal and/or interest | 264,952 | 152,373 | |
Domestic | Small and medium sized companies | Corporate | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | |
Loan forgiveness or debt to equity swaps charge-offs | 0 | ||
Interest rate reduction and/or postponement of principal and/or interest | 54,760 | 55,344 | |
Domestic | Banks and other financial institutions | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | |
Loan forgiveness or debt to equity swaps charge-offs | 0 | ||
Interest rate reduction and/or postponement of principal and/or interest | 1,600 | ||
Foreign | |||
Financing Receivable, Modifications [Line Items] | |||
Loan forgiveness or debt to equity swaps Recorded investment | [1] | 0 | 470 |
Loan forgiveness or debt to equity swaps charge-offs | 0 | 4,922 | |
Interest rate reduction and/or postponement of principal and/or interest | ¥ 80,889 | ¥ 38,646 | |
[1] | Amounts represent the book values of loans immediately after the restructurings. |
Loans - Payment Defaults Occurr
Loans - Payment Defaults Occurred During Periods with Respect to Loans Modified as Troubled Debt Restructurings within Previous Six Months (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | ¥ 51,340 | ¥ 16,790 |
Housing loan | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 505 | 686 |
Other | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 1,104 | 1,349 |
Domestic | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 7,554 | 10,354 |
Domestic | Corporate | Large companies | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 2,084 | 5,875 |
Domestic | Corporate | Small and medium sized companies | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 3,861 | 2,444 |
Foreign | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | ¥ 43,786 | ¥ 6,436 |
Loans - Age Analysis of Past Du
Loans - Age Analysis of Past Due Loans (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | ¥ 51,340 | ¥ 16,790 | |
Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 505 | 686 | |
Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 1,104 | 1,349 | |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 7,554 | 10,354 | |
Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 2,084 | 5,875 | |
Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 3,861 | 2,444 | |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 43,786 | ¥ 6,436 | |
30-59 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 24,781 | ¥ 27,589 | |
30-59 Days Past Due | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
30-59 Days Past Due | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 22,955 | 26,375 | |
30-59 Days Past Due | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 311 | 2,146 | |
30-59 Days Past Due | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 2,093 | 2,347 | |
30-59 Days Past Due | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 15,831 | 15,703 | |
30-59 Days Past Due | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 4,720 | 6,179 | |
30-59 Days Past Due | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
30-59 Days Past Due | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 1,826 | 1,214 | |
60-89 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 10,815 | 15,179 | |
60-89 Days Past Due | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
60-89 Days Past Due | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 10,179 | 14,998 | |
60-89 Days Past Due | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 269 | 2,013 | |
60-89 Days Past Due | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 604 | 894 | |
60-89 Days Past Due | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 7,870 | 10,078 | |
60-89 Days Past Due | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 1,436 | 2,013 | |
60-89 Days Past Due | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
60-89 Days Past Due | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 636 | 181 | |
90 Days or More Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 150,703 | 118,202 | |
90 Days or More Past Due | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
90 Days or More Past Due | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 90,168 | 89,480 | |
90 Days or More Past Due | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 38,868 | 38,364 | |
90 Days or More Past Due | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 11,226 | 9,187 | |
90 Days or More Past Due | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 25,922 | 26,690 | |
90 Days or More Past Due | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 14,152 | 15,239 | |
90 Days or More Past Due | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
90 Days or More Past Due | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 60,535 | 28,722 | |
Total past due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 186,299 | 160,970 | |
Total past due | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 123,302 | 130,853 | |
Total past due | Domestic | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
Total past due | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 39,448 | 42,523 | |
Total past due | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 13,923 | 12,428 | |
Total past due | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 49,623 | 52,471 | |
Total past due | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 20,308 | 23,431 | |
Total past due | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 0 | ||
Total past due | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 62,997 | 30,117 | |
Current | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 90,289,448 | 87,516,199 | |
Current | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 59,399,056 | 55,899,658 | |
Current | Domestic | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 2,992,075 | 2,570,359 | |
Current | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 42,402,123 | 39,120,558 | |
Current | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 3,177,387 | 3,238,005 | |
Current | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 8,101,263 | 8,278,484 | |
Current | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 1,918,353 | 1,901,593 | |
Current | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 807,855 | 790,659 | |
Current | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 30,890,392 | 31,616,541 | |
Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 90,475,747 | 87,677,169 | |
Total | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 59,522,358 | 56,030,511 | |
Total | Domestic | Soverign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 2,992,075 | 2,570,359 | |
Total | Domestic | Corporate | Large companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 42,441,571 | 39,163,081 | |
Total | Domestic | Corporate | Small and medium sized companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 3,191,310 | 3,250,433 | |
Total | Domestic | Retail | Housing loan | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 8,150,886 | 8,330,955 | |
Total | Domestic | Retail | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 1,938,661 | 1,925,024 | |
Total | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | 807,855 | 790,659 | |
Total | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | ¥ 30,953,389 | ¥ 31,646,658 |
Allowance for Credit Losses o_3
Allowance for Credit Losses on Loans (Changes in Allowance for Credit Losses On Loan and Loans Outstanding Disaggregated on Basis of Impairment Method, by Portfolio Segment) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | ¥ 440,855 | ¥ 307,201 | |
Provision (credit) for credit losses on loans | 53,082 | 13,773 | |
Charge-offs | (31,863) | (29,034) | |
Recoveries | 5,739 | 4,054 | |
Net charge-offs | (26,124) | (24,980) | |
Others | [1] | (1,042) | (4,572) |
Balance at end of fiscal year | 622,526 | 291,422 | |
Cumulative effect of change in accounting principles | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 155,755 | ||
Cumulative effect, period of adoption, adjusted balance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 596,610 | ||
Corporate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 413,026 | 277,955 | |
Provision (credit) for credit losses on loans | 64,133 | 12,268 | |
Charge-offs | (28,417) | (25,147) | |
Recoveries | 5,260 | 2,785 | |
Net charge-offs | (23,157) | (22,362) | |
Others | [1] | (997) | (4,570) |
Balance at end of fiscal year | 530,519 | 263,291 | |
Corporate | Cumulative effect of change in accounting principles | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 77,514 | ||
Corporate | Cumulative effect, period of adoption, adjusted balance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 490,540 | ||
Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 27,829 | 29,246 | |
Provision (credit) for credit losses on loans | (11,051) | 1,505 | |
Charge-offs | (3,446) | (3,887) | |
Recoveries | 479 | 1,269 | |
Net charge-offs | (2,967) | (2,618) | |
Others | [1] | (45) | (2) |
Balance at end of fiscal year | 92,007 | ¥ 28,131 | |
Retail | Cumulative effect of change in accounting principles | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | 78,241 | ||
Retail | Cumulative effect, period of adoption, adjusted balance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at beginning of period | ¥ 106,070 | ||
[1] | Others includes primarily foreign exchange translation. |
Other Assets and Liabilities (D
Other Assets and Liabilities (Details of Other Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Other assets: | |||
Receivables from brokers, dealers and customers for securities transactions | ¥ 898,924 | ¥ 783,439 | |
Other | 416,064 | 358,702 | |
Collateral pledged for derivative transactions | 1,079,050 | 1,246,026 | |
Margins provided for futures contracts | 316,791 | 602,039 | |
Other | 909,155 | 941,167 | |
Prepaid pension cost | 986,767 | 711,981 | |
Right-of-use assets | 586,365 | 613,068 | |
Security deposits | 108,204 | 107,294 | |
Loans held for sale | 22,404 | 60,084 | |
Other | 540,514 | 542,079 | |
Total | 5,864,238 | 5,965,879 | |
Other liabilities: | |||
Payables to brokers, dealers and customers for securities transactions | 2,065,408 | 2,161,075 | |
Other | 365,446 | 375,127 | |
Guaranteed trust principal | [1] | 808,172 | 824,431 |
Lease liabilities | ¥ 600,087 | 627,250 | |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:OperatingLeaseLiability | ||
Collateral accepted for derivative transactions | ¥ 587,426 | 846,426 | |
Margins accepted for futures contracts | 558,138 | 797,317 | |
Unearned income | 120,352 | 122,072 | |
Other | 1,194,591 | 1,244,697 | |
Total | ¥ 6,299,620 | ¥ 6,998,395 | |
[1] | Guaranteed trust principal, included in All other liabilities in the disclosure about consolidated VIEs in the accompanying balance sheets, is a liability of certain consolidated trust arrangements that meet the definition of a VIE for which the MHFG Group provides guarantees for the repayment of principal. See Note 15 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. |
Preferred and Common Stock (Com
Preferred and Common Stock (Composition of Preferred Stock) (Detail) - shares | Sep. 30, 2020 | Mar. 31, 2020 |
Class Fourteen Preferred Stock | ||
Class of Stock [Line Items] | ||
Number of shares Authorized | 90,000,000 | 90,000,000 |
Number of shares Issued | 0 | 0 |
Class Fifteen Preferred Stock | ||
Class of Stock [Line Items] | ||
Number of shares Authorized | 90,000,000 | 90,000,000 |
Number of shares Issued | 0 | 0 |
Class Sixteen Preferred Stock | ||
Class of Stock [Line Items] | ||
Number of shares Authorized | 150,000,000 | 150,000,000 |
Number of shares Issued | 0 | 0 |
Preferred and Common Stock - Ad
Preferred and Common Stock - Additional Information (Detail) - shares | Sep. 30, 2020 | Mar. 31, 2020 |
Class of Stock [Line Items] | ||
Common Stock, Shares, Issued | 2,539,249,894 | 2,539,249,894 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (loss), net of tax (Changes in Each Component of AOCI) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | ¥ 9,175,624 | |||
Less: reclassification adjustments for losses (gains) included in net income | (1,819) | |||
Change during period | 142,550 | ¥ (56,583) | ||
Balance at end of fiscal year | 9,140,053 | 9,486,573 | ||
Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | (9,494) | 164,021 | ||
Change during period | 143,331 | (56,254) | ||
Balance at end of fiscal year | 133,837 | 106,715 | ||
Accumulated Other Comprehensive Income | Cumulative effect of change in accounting principles | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | 0 | (1,052) | [1] | |
Accumulated Other Comprehensive Income | Cumulative effect, period of adoption, adjusted balance | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | (9,494) | 162,969 | ||
Net unrealized gains (losses) on available-for-sale securities | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | (19,592) | 22,019 | ||
Unrealized gains (losses) during period | 644 | 25,843 | ||
Less: reclassification adjustments for losses (gains) included in net income | 754 | (20,824) | ||
Change during period | 1,398 | 5,019 | ||
Balance at end of fiscal year | (18,194) | 27,038 | ||
Foreign currency translation adjustments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | (109,872) | (58,558) | ||
Foreign currency translation adjustments during period | (36,652) | (63,466) | ||
Less: reclassification adjustments for losses (gains) included in net income | (409) | |||
Change during period | (37,061) | (63,466) | ||
Balance at end of fiscal year | (146,933) | (123,076) | ||
Foreign currency translation adjustments | Cumulative effect of change in accounting principles | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | [1] | (1,052) | ||
Foreign currency translation adjustments | Cumulative effect, period of adoption, adjusted balance | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | (109,872) | (59,610) | ||
Pension liability adjustments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | 69,455 | 196,446 | ||
Unrealized gains (losses) during period | 190,394 | (1,720) | ||
Less: reclassification adjustments for losses (gains) included in net income | 672 | (2,130) | ||
Change during period | 191,066 | (3,850) | ||
Balance at end of fiscal year | 260,521 | 192,596 | ||
Accumulated Own Credit Risk Adjustment Including Portion Attributable to Noncontrolling Interest | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at beginning of period | 50,515 | 4,114 | ||
Unrealized gains (losses) during period | (9,340) | 7,320 | ||
Less: reclassification adjustments for losses (gains) included in net income | (2,732) | (1,277) | ||
Change during period | (12,072) | 6,043 | ||
Balance at end of fiscal year | ¥ 38,443 | ¥ 10,157 | ||
[1] | The MHFG Group adopted ASU No.2017-12, “Derivatives and Hedging (Topic 815)—Targeted Improvements to Accounting for Hedging Activities” (“ASU No.2017-12”) on April 1, 2019 and the ASU No.2017-12 eliminated the separate measurement and reporting of hedge ineffectiveness. Cumulative-effect adjustment to the consolidated balance sheets was recognized upon adoption. |
Accumulated other comprehensi_4
Accumulated other comprehensive income (loss), net of tax (Amounts Reclassified Out of Accumulated Other Comprehensive Income into Net Income) (Detail) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020JPY (¥) | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Before tax | ¥ 2,451 | [1] |
Tax effect | (632) | [2] |
Net of tax before allocation to noncontrolling interests | 1,819 | |
Net of tax attributable to noncontrolling interests | (104) | [2] |
Net of tax attributable to MHFG shareholders | 1,715 | |
Accumulated Net Unrealized Investment Gain (Loss) | Gain (Loss) on Investments | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Before tax | (1,065) | [1] |
Tax effect | 306 | [2] |
Net of tax before allocation to noncontrolling interests | (759) | |
Net of tax attributable to noncontrolling interests | 5 | [2] |
Net of tax attributable to MHFG shareholders | (754) | |
Accumulated Defined Benefit Plans Adjustment | Salaries and employee benefits | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Before tax | (1,004) | [1] |
Tax effect | 321 | [2] |
Net of tax before allocation to noncontrolling interests | (683) | |
Net of tax attributable to noncontrolling interests | 11 | [2] |
Net of tax attributable to MHFG shareholders | (672) | |
Accumulated Own Credit Risk Adjustment | Other Noninterest Income (Expenses) | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Before tax | 4,111 | [1] |
Tax effect | (1,259) | [2] |
Net of tax before allocation to noncontrolling interests | 2,852 | |
Net of tax attributable to noncontrolling interests | (120) | [2] |
Net of tax attributable to MHFG shareholders | 2,732 | |
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Net of tax before allocation to noncontrolling interests | 409 | |
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Foreign exchange gains (losses)-net | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Before tax | 409 | [1] |
Net of tax before allocation to noncontrolling interests | 409 | |
Net of tax attributable to MHFG shareholders | ¥ 409 | |
[1] | The financial statement line item in which the amounts in the Before tax column are reported in the consolidated statements of income is listed to the right of the table. | |
[2] | The financial statement line items in which the amounts in the Tax effect and the Net of tax attributable to noncontrolling interest columns are reported in the consolidated statements of income are Income tax expense and Net income, respectively. |
Regulatory Matters (Capital Ade
Regulatory Matters (Capital Adequacy Ratios of MHFG, MHBK, and MHTB Calculated in Accordance with Japanese GAAP and Guidelines Established by Financial Services Agency) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | ||
Mizuho Financial Group Inc | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | [1] | ¥ 5,159 | ¥ 4,978 | |
Actual | 7,453 | 7,245 | ||
Required | [1] | 6,125 | 5,910 | |
Actual | ¥ 9,468 | ¥ 9,024 | ||
Required | [1] | 9.51% | 9.51% | |
Actual | 14.69% | 14.52% | ||
Required | [1] | ¥ 7,413 | ¥ 7,152 | |
Actual | ¥ 11,133 | ¥ 10,722 | ||
Required | [1] | 11.51% | 11.51% | |
Actual | 17.28% | 17.25% | ||
Required | ¥ 5,874 | [2] | ¥ 6,629 | |
Actual | ¥ 9,468 | [2] | ¥ 9,024 | |
Common Equity Tier 1 capital: | ||||
Required | [1] | 8.01% | 8.01% | |
Actual | 11.57% | 11.65% | ||
Leverage Ratio: | ||||
Required | 3.00% | 3.00% | ||
Actual | 4.83% | 4.08% | ||
Mizuho Bank Limited | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 2,689 | ¥ 2,567 | ||
Actual | 6,756 | 6,501 | ||
Required | 3,585 | 3,422 | ||
Actual | ¥ 8,765 | ¥ 8,275 | ||
Required | 6.00% | 6.00% | ||
Actual | 14.66% | 14.50% | ||
Required | ¥ 4,780 | ¥ 4,563 | ||
Actual | ¥ 10,338 | ¥ 9,865 | ||
Required | 8.00% | 8.00% | ||
Actual | 17.30% | 17.29% | ||
Required | ¥ 5,450 | [2] | ¥ 6,160 | |
Actual | ¥ 8,765 | [2] | ¥ 8,275 | |
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 11.30% | 11.39% | ||
Leverage Ratio: | ||||
Required | 3.00% | 3.00% | ||
Actual | 4.82% | 4.02% | ||
Mizuho Bank Limited | Non-consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 2,525 | ¥ 2,403 | ||
Actual | 6,369 | 6,130 | ||
Required | 3,367 | 3,204 | ||
Actual | ¥ 8,381 | ¥ 7,905 | ||
Required | 6.00% | 6.00% | ||
Actual | 14.93% | 14.80% | ||
Required | ¥ 4,489 | ¥ 4,272 | ||
Actual | ¥ 9,943 | ¥ 9,482 | ||
Required | 8.00% | 8.00% | ||
Actual | 17.71% | 17.75% | ||
Required | ¥ 5,178 | [2] | ¥ 5,884 | |
Actual | ¥ 8,381 | [2] | ¥ 7,905 | |
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 11.34% | 11.47% | ||
Leverage Ratio: | ||||
Required | 3.00% | 3.00% | ||
Actual | 4.85% | 4.03% | ||
Mizuho Trust & Banking Company Limited | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 87 | ¥ 93 | ||
Actual | 509 | 489 | ||
Required | 116 | 124 | ||
Actual | ¥ 509 | ¥ 489 | ||
Required | 6.00% | 6.00% | ||
Actual | 26.24% | 23.66% | ||
Required | ¥ 155 | ¥ 165 | ||
Actual | ¥ 510 | ¥ 491 | ||
Required | 8.00% | 8.00% | ||
Actual | 26.27% | 23.74% | ||
Required | ¥ 156 | [2] | ¥ 216 | |
Actual | ¥ 509 | [2] | ¥ 489 | |
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 26.24% | 23.64% | ||
Leverage Ratio: | ||||
Required | 3.00% | 3.00% | ||
Actual | 9.79% | 6.79% | ||
Mizuho Trust & Banking Company Limited | Non-consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 87 | ¥ 93 | ||
Actual | 494 | 475 | ||
Required | 116 | 123 | ||
Actual | ¥ 494 | ¥ 475 | ||
Required | 6.00% | 6.00% | ||
Actual | 25.49% | 23.10% | ||
Required | ¥ 155 | ¥ 165 | ||
Actual | ¥ 494 | ¥ 477 | ||
Required | 8.00% | 8.00% | ||
Actual | 25.52% | 23.18% | ||
Required | ¥ 153 | [2] | ¥ 214 | |
Actual | ¥ 494 | [2] | ¥ 475 | |
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 25.49% | 23.10% | ||
Leverage Ratio: | ||||
Required | 3.00% | 3.00% | ||
Actual | 9.66% | 6.66% | ||
[1] | The required ratios disclosed above, at March 31, 2020 and September 30, 2020, include the capital conservation buffer of 2.5%, the countercyclical capital buffer of 0.01%, and the additional loss absorbency requirements for global systemically important banks (“G-SIBs”) and domestic systemically important banks (“D-SIBs”) of 1.0%, which are all in addition to the regulatory minima. The respective required amounts are determined by applying the ratios to the sum of the risk weighted assets and certain other risk amounts. | |||
[2] | The required and actual amounts disclosed above at September 30, 2020 exclude amounts of deposits to the Bank of Japan. |
Regulatory Matters (Capital A_2
Regulatory Matters (Capital Adequacy Ratios of MHFG, MHBK, and MHTB Calculated in Accordance with Japanese GAAP and Guidelines Established by Financial Services Agency) (Parenthetical) (Detail) | 6 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Mar. 31, 2020 | |
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital conservation buffer | 2.50% | 2.50% |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | 1.00% |
Countercyclical capital buffer | 0.01% | 0.01% |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings Per Common Share) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Net income: | |||
Net income attributable to MHFG common shareholders | ¥ 315,886 | ¥ 212,984 | |
Effect of dilutive securities | |||
Net income attributable to common shareholders after assumed conversions | ¥ 315,886 | ¥ 212,984 | |
Shares: | |||
Weighted average common shares outstanding | 2,537,272 | 2,536,800 | |
Effect of dilutive securities: | |||
Stock options and the common shares of MHFG under the stock compensation programs | [1] | 93 | 209 |
Weighted average common shares after assumed conversions | 2,537,365 | 2,537,009 | |
Earnings per common share: | |||
Basic net income per common share | ¥ 124.50 | ¥ 83.96 | |
Diluted net income per common share | [1] | ¥ 124.49 | ¥ 83.95 |
[1] | For the six months ended September 30, 2020, the performance-based plan under the stock compensation programs could potentially dilute earnings per common share but were not included in the computation of diluted earnings per common share due to their antidilutive effects. |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Reconciliation of Provision of Income Taxes [Line Items] | ||
Current tax expense | ¥ 79,954 | ¥ 88,437 |
Deferred tax expense (benefit) | 57,807 | (5,317) |
Total income tax expense | ¥ 137,761 | ¥ 83,120 |
Income Taxes (Detailed Amounts
Income Taxes (Detailed Amounts of Tax Effects of Items Recorded Directly in Equity) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Net unrealized gains (losses) on available-for-sale securities: | ||
Unrealized gains (losses) | ¥ 579 | ¥ 11,023 |
Less: reclassification adjustments | 306 | (9,192) |
Total | 885 | 1,831 |
Pension liability adjustments: | ||
Unrealized gains (losses) | 83,994 | (643) |
Less: reclassification adjustments | 321 | (937) |
Total | 84,315 | (1,580) |
Own credit risk adjustments: | ||
Unrealized gains (losses) | (2,351) | (43) |
Less: reclassification adjustments | (1,259) | (588) |
Total | (3,610) | (631) |
Total tax effect before allocation to noncontrolling interests | ¥ 81,590 | ¥ (380) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Taxes [Line Items] | ||
Statutory tax rate | 30.62% | 30.62% |
Effective tax rate | 25.15% | 26.77% |
Net operating loss carryforwards | ¥ 623,000 | |
Unrecognized Tax Benefits | ¥ 4,382 |
Pension and Other Employee Be_3
Pension and Other Employee Benefit Plans (Components of Net Periodic Costs of Severance Indemnities and Pension Plans) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost-benefits earned during the period | ¥ 22,695 | ¥ 22,729 |
Interest costs on projected benefit obligations | 2,931 | 2,666 |
Expected return on plan assets | (20,073) | (20,158) |
Amortization of prior service cost (benefits) | 205 | 19 |
Amortization of net actuarial loss (gain) | 836 | (3,064) |
Special termination benefits | 4,981 | 2,188 |
Net periodic benefit cost | ¥ 11,575 | ¥ 4,380 |
Pension and Other Employee Be_4
Pension and Other Employee Benefit Plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Mar. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan, contribution expected to be paid during the next fiscal year | ¥ 41,000 | |
Total payment to pension plans | ¥ 25,000 | |
Additional contribution expected to be paid during remainder of fiscal year | 16,000 | |
Defined benefit plans, prior service costs recognised | ¥ 73,998 | |
Defined contribution plans effective date | Oct. 1, 2020 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Summary of Notional and Fair Value Amounts of Derivative Instruments Outstanding) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | ¥ 1,274,978 | ¥ 1,320,665 |
Interest rate contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 1,084,971 | 1,123,546 |
Foreign exchange contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 174,856 | 185,359 |
Equity-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 7,012 | 6,684 |
Credit-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 7,742 | 4,676 |
Other contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 397 | 400 |
Not Designated as Hedging Instrument | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 8,758 | 10,536 |
Fair value of derivative payables | [2] | 8,251 | 10,021 |
Not Designated as Hedging Instrument | Interest rate contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 6,135 | 7,232 |
Fair value of derivative payables | [2] | 5,728 | 6,788 |
Not Designated as Hedging Instrument | Foreign exchange contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 2,143 | 2,926 |
Fair value of derivative payables | [2] | 2,160 | 2,899 |
Not Designated as Hedging Instrument | Equity-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 397 | 310 |
Fair value of derivative payables | [2] | 260 | 266 |
Not Designated as Hedging Instrument | Credit-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 55 | 30 |
Fair value of derivative payables | [2] | 77 | 29 |
Not Designated as Hedging Instrument | Other contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 28 | 38 |
Fair value of derivative payables | [2] | ¥ 26 | ¥ 39 |
[1] | Notional amount includes the sum of gross long and gross short third-party contracts. | ||
[2] | Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. |
Derivative Financial Instrume_4
Derivative Financial Instruments - Additional Information (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Derivative [Line Items] | ||
Cash collateral provided and not offset against derivative positions and included in Other assets | ¥ 1,079,050 | ¥ 1,246,026 |
Cash collateral accepted and not offset against derivative positions and included in Other liabilities | ¥ 587,426 | ¥ 846,426 |
Derivative Financial Instrume_5
Derivative Financial Instruments (Summary of Gains and Losses Information Related to Net Investment Hedges) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) recorded in OCI | ¥ 1,538 | ¥ (1,044) |
Financial instruments hedging foreign exchange risk | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) recorded in OCI | ¥ 1,538 | ¥ (1,044) |
Derivative Financial Instrume_6
Derivative Financial Instruments (Summary of Gains and Losses Information Related to Net Investment Hedges) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Sep. 30, 2019 |
Financial instruments hedging foreign exchange risk | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Accumulated other comprehensive income reclassified to earnings | ¥ (1,312) | ¥ (260) |
Derivative Financial Instrume_7
Derivative Financial Instruments (Summary of Gains and Losses on Derivatives not Designated or Qualifying as Hedges) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | ¥ 24,542 | ¥ 174,483 | |
Interest rate contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | 32,791 | 210,909 | |
Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | 26,277 | (30,736) | |
Equity-related contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | [1] | (31,999) | (494) |
Credit-related contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | [2] | (29,219) | (3,546) |
Other contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | ¥ 26,692 | ¥ (1,650) | |
[1] | The net gains (losses) excluded from the assessment of the effectiveness of fair value hedges is not included in the above table. | ||
[2] | Amounts include the net gains (losses) of ¥(426) million and ¥(1,221) million on the credit derivatives economically managing the credit risk of loans during the six months ended September 30, 2019 and 2020, respectively. |
Derivative Financial Instrume_8
Derivative Financial Instruments (Summary of Gains and Losses on Derivatives not Designated or Qualifying as Hedges) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | ¥ 24,542 | ¥ 174,483 | |
Credit-related contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | [1] | (29,219) | (3,546) |
Credit-related contracts | Loans related to credit derivatives | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income | ¥ (1,221) | ¥ (426) | |
[1] | Amounts include the net gains (losses) of ¥(426) million and ¥(1,221) million on the credit derivatives economically managing the credit risk of loans during the six months ended September 30, 2019 and 2020, respectively. |
Derivative Financial Instrume_9
Derivative Financial Instruments (Summary of Notional and Fair Value Amounts of Credit Derivatives) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Credit protection written | ||
Credit Derivatives [Line Items] | ||
Notional amount | ¥ 3,217 | ¥ 1,816 |
Fair value | 45 | (5) |
Credit protection written | Investment grade | ||
Credit Derivatives [Line Items] | ||
Notional amount | 2,687 | 1,400 |
Fair value | 37 | (5) |
Credit protection written | Non-investment grade | ||
Credit Derivatives [Line Items] | ||
Notional amount | 530 | 416 |
Fair value | 8 | |
Credit protection purchased | ||
Credit Derivatives [Line Items] | ||
Notional amount | 4,693 | 3,028 |
Fair value | ¥ (67) | ¥ 6 |
Derivative Financial Instrum_10
Derivative Financial Instruments (Maximum Potential Amount of Future Payments for Credit Protection Written by Expiration Period) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | ¥ 3,217 | ¥ 1,816 |
One year or less | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | 233 | 270 |
After one year through five years | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | 2,793 | 1,368 |
After five years | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | ¥ 191 | ¥ 178 |
Derivative Financial Instrum_11
Derivative Financial Instruments (Quantitative Information about Derivative Instruments with Credit-risk-related Contingent Features) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Credit Derivatives [Line Items] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions | ¥ 747 | ¥ 888 |
Collateral provided to counterparties in the normal course of business | 703 | 818 |
Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered | ¥ 44 | ¥ 70 |
Commitments and Contingencies_2
Commitments and Contingencies (Summary of Maximum Potential Amount of Future Payments under Guarantees) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Performance guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 2,527 | ¥ 2,456 |
Guarantees on loans | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 266 | 301 |
Guarantees on securities | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 96 | 110 |
Other guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 2,306 | 2,314 |
Guarantees for repayment of trust principal | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 31 | 59 |
Liabilities of trust accounts | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 456 | 446 |
Derivative financial instruments | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 21,097 | ¥ 21,756 |
Commitments and Contingencies_3
Commitments and Contingencies (Summary of Maximum Potential Amount of Future Payments of Certain Guarantees Classified Based on Internal Ratings) (Detail) - Performance guarantees, Guarantees on loans, Guarantees on securities and Other guarantees - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 5,195 | ¥ 5,181 |
Investment grade | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 4,079 | 4,233 |
Non-investment grade | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 1,116 | ¥ 948 |
Commitments and Contingencies_4
Commitments and Contingencies (Summary of Contractual Amounts with Regard to Undrawn Commitments) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | ¥ 86,896 | ¥ 77,323 | |
Commitments to Extend Credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | [1] | 86,359 | 76,633 |
Commercial letters of credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | ¥ 537 | ¥ 690 | |
[1] | Commitments to extend credit include commitments to invest in securities. |
Variable Interest Entities an_3
Variable Interest Entities and Securitizations (Consolidated Assets of Consolidated VIEs as well as Total Assets and Maximum Exposure to Loss for Significant Unconsolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | ¥ 217,594,620 | ¥ 211,218,760 |
Significant unconsolidated VIEs- Maximum exposure to loss | 491,000 | 521,000 |
Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 11,035,019 | 5,815,146 |
Unconsolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 2,423,000 | 2,376,000 |
Asset-backed commercial paper/loan programs | Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 2,045,000 | 2,160,000 |
Asset-backed securitizations | ||
Variable Interest Entity [Line Items] | ||
Significant unconsolidated VIEs- Maximum exposure to loss | 8,000 | 7,000 |
Asset-backed securitizations | Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 780,000 | 572,000 |
Asset-backed securitizations | Unconsolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 77,000 | 77,000 |
Investments in securitization products | Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 370,000 | 370,000 |
Investment funds | ||
Variable Interest Entity [Line Items] | ||
Significant unconsolidated VIEs- Maximum exposure to loss | 483,000 | 514,000 |
Investment funds | Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 2,283,000 | 2,694,000 |
Investment funds | Unconsolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 2,346,000 | 2,299,000 |
Trust arrangements and other | Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | ¥ 5,557,000 | ¥ 19,000 |
Variable Interest Entities an_4
Variable Interest Entities and Securitizations (Carrying Amounts and Classification of Assets and Liabilities on Consolidated Balance Sheets that Relate to Variable Interests in Significant Unconsolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Assets on balance sheets related to unconsolidated VIEs: | |||
Trading account assets | ¥ 29,467,045 | ¥ 28,092,871 | |
Loans | 89,853,221 | 87,087,233 | |
Total assets | 217,594,620 | 211,218,760 | |
Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: | |||
Payables under securities lending transactions | 1,475,850 | 1,423,638 | |
Trading account liabilities | 10,590,312 | 12,416,785 | |
Total | 208,454,567 | 202,043,136 | |
Maximum exposure to loss | 491,000 | 521,000 | |
Unconsolidated VIEs | |||
Assets on balance sheets related to unconsolidated VIEs: | |||
Total assets | 2,423,000 | 2,376,000 | |
Unconsolidated VIEs | Mizuho Financial Group Inc | |||
Assets on balance sheets related to unconsolidated VIEs: | |||
Trading account assets | 113,000 | 108,000 | |
Investments | 231,000 | 267,000 | |
Loans | 58,000 | 55,000 | |
Total assets | 402,000 | 430,000 | |
Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: | |||
Payables under securities lending transactions | 48,000 | 47,000 | |
Trading account liabilities | 2,000 | 2,000 | |
Total | 50,000 | 49,000 | |
Maximum exposure to loss | [1] | ¥ 491,000 | ¥ 521,000 |
[1] | This represents the maximum amount the Group could possibly be required to record in its consolidated statements of income associated with on-balance-sheet exposures and off-balance-sheet liabilities such as undrawn commitments. |
Variable Interest Entities an_5
Variable Interest Entities and Securitizations - Additional Information (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Variable Interest Entity [Line Items] | ||
Long-term debt | ¥ 11,049,044 | ¥ 10,346,152 |
Noncontrolling interests | 390,077 | 663,259 |
Consolidated VIEs | ||
Variable Interest Entity [Line Items] | ||
Noncontrolling interests | 275,000 | 541,000 |
Debt Instrument [Member] | ||
Variable Interest Entity [Line Items] | ||
Long-term debt | 317,000 | 356,000 |
Assets associated with securitization transactions | ||
Variable Interest Entity [Line Items] | ||
Transferred assets continue to be carried on the consolidated balance sheets | 174,000 | 176,000 |
Assets associated with loan participation transactions | ||
Variable Interest Entity [Line Items] | ||
Transferred assets continue to be carried on the consolidated balance sheets | ¥ 142,000 | ¥ 153,000 |
Summary of Noninterest Income (
Summary of Noninterest Income (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | ¥ 428,317 | ¥ 403,992 | |
Foreign exchange gains (losses)—net | [1] | 22,785 | 27,923 |
Trading account gains (losses)—net | [2] | 257,591 | 395,405 |
Investment gains (losses)—net: | |||
Debt securities | [1] | 46 | 31,092 |
Equity securities | [1] | 266,119 | (126,648) |
Equity in earnings (losses) of equity method investees—net | [1] | 5,788 | 22,066 |
Gains on disposal of premises and equipment | [1] | 6,849 | 1,693 |
Other noninterest income | [2],[3] | 23,715 | 34,839 |
Total noninterest income | 1,011,210 | 790,362 | |
Securities related business | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 78,441 | 64,498 |
Deposits related business | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 7,408 | 7,570 |
Lending related business | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [2],[5] | 79,619 | 68,609 |
Correspondent clearing | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 54,785 | 56,075 |
Investment advisory, management and administrative service | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 45,948 | 48,291 |
Fiduciary and trust | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 54,425 | 56,459 |
Agency business | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 15,064 | 15,152 |
Guarantee related business | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [1] | 15,560 | 13,898 |
Financial service, other | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | [4] | 77,067 | 73,440 |
Financial service | |||
Disaggregation of Revenue [Line Items] | |||
Fee and commission income | ¥ 428,317 | ¥ 403,992 | |
[1] | These amounts are revenues from contracts that do not meet the scope of ASC 606. | ||
[2] | Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606. | ||
[3] | These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details. | ||
[4] | These amounts are revenues from contracts within the scope of ASC 606, “Revenue from contracts with customers” (“ASC 606”). | ||
[5] | Most of the lending-related fees such as commitment fees and arrangement fees are not within the scope of ASC 606. |
Noninterest Income - Additional
Noninterest Income - Additional Information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Other Revenues [Line Items] | |||
Trust fees | ¥ 25,000 | ¥ 25,000 | |
Fees related to trust business | 29,000 | 31,000 | |
Trading account gains (losses)—net | [1] | 257,591 | 395,405 |
Other noninterest income | [1],[2] | 23,715 | 34,839 |
Revenue from contracts with customers ("ASC 606") | |||
Other Revenues [Line Items] | |||
Trading account gains (losses)—net | 45,000 | 33,000 | |
Other noninterest income | ¥ 7,000 | ¥ 12,000 | |
[1] | Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606. | ||
[2] | These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details. |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Carrying amounts of other equity interests of which fair value is not readily determinable | ¥ 402 | ¥ 420 | |
Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3 | 1 | ||
Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3 | 1 | ||
Senior borrowings and bonds | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
The differences between the aggregate fair value and aggregate unpaid principal balance of the notes for which the fair value option has been elected | 61 | ¥ 112 | |
Net unrealized gains (losses) resulting from changes in fair values of the notes | ¥ 17 | ¥ 2 | |
Investment funds | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Underlying assets, estimated remaining liquidation period | 10 years | ||
Long-term debt | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Fair value of liabilities transferred out of Level 3 | ¥ 35 | 6 | |
Fair value of liabilities transferred into Level 3 | 19 | ¥ 17 | |
Trading securities | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Fair value of assets transferred out of Level 3 | ¥ 1 |
Fair Value (Summary of Assets a
Fair Value (Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis, Including Fair Value Option Elected) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Assets: | |||
Available-for-sale securities | ¥ 26,546,800 | ¥ 19,112,952 | |
Liabilities: | |||
Long-term debt | 2,802,428 | 2,537,082 | |
Fair Value, Measurements, Recurring | |||
Assets: | |||
Equity securities with readily determinable fair values | 3,016,000 | 2,765,000 | |
Equity securities measured at net asset value | [1] | 83,000 | 72,000 |
Other investments | 56,000 | 39,000 | |
Total assets measured at fair value | 59,168,000 | 50,081,000 | |
Liabilities: | |||
Trading securities sold, not yet purchased | 2,339,000 | 2,395,000 | |
Long-term debt | [2] | 2,802,000 | 2,537,000 |
Total liabilities measured at fair value | 13,392,000 | 14,953,000 | |
Fair Value, Measurements, Recurring | Trading Account Asset | |||
Assets: | |||
Securities measured at net asset value | [1],[3] | 447,000 | 462,000 |
Fair Value, Measurements, Recurring | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 6,135,000 | 7,232,000 | |
Liabilities: | |||
Liabilities, derivatives | 5,728,000 | 6,788,000 | |
Fair Value, Measurements, Recurring | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 2,143,000 | 2,926,000 | |
Liabilities: | |||
Liabilities, derivatives | 2,160,000 | 2,899,000 | |
Fair Value, Measurements, Recurring | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 397,000 | 310,000 | |
Liabilities: | |||
Liabilities, derivatives | 260,000 | 266,000 | |
Fair Value, Measurements, Recurring | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 55,000 | 30,000 | |
Liabilities: | |||
Liabilities, derivatives | 77,000 | 29,000 | |
Fair Value, Measurements, Recurring | Other contracts | |||
Assets: | |||
Assets, derivatives | 28,000 | 38,000 | |
Liabilities: | |||
Liabilities, derivatives | 26,000 | 39,000 | |
Fair Value, Measurements, Recurring | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 3,268,000 | 1,538,000 |
Available-for-sale securities | 19,920,000 | 12,603,000 | |
Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 138,000 | 170,000 |
Available-for-sale securities | 407,000 | 273,000 | |
Fair Value, Measurements, Recurring | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 5,792,000 | 5,041,000 |
Available-for-sale securities | 627,000 | 935,000 | |
Fair Value, Measurements, Recurring | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 1,464,000 | 1,675,000 |
Available-for-sale securities | 1,356,000 | 1,411,000 | |
Fair Value, Measurements, Recurring | Agency mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 4,348,000 | 3,390,000 |
Available-for-sale securities | 520,000 | 505,000 | |
Fair Value, Measurements, Recurring | Residential mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 9,000 | 10,000 |
Available-for-sale securities | 80,000 | 84,000 | |
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities | |||
Assets: | |||
Available-for-sale securities | 641,000 | 615,000 | |
Fair Value, Measurements, Recurring | Certificates of deposit and commercial paper | |||
Assets: | |||
Assets, trading securities | [3] | 1,259,000 | 1,036,000 |
Fair Value, Measurements, Recurring | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3],[4] | 2,455,000 | 2,554,000 |
Fair Value, Measurements, Recurring | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 1,529,000 | 1,680,000 |
Fair Value, Measurements, Recurring | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 2,070,000 | 1,835,000 | |
Fair Value, Measurements, Recurring | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 925,000 | 852,000 | |
Fair Value, Measurements, Recurring | Level 1 | |||
Assets: | |||
Equity securities with readily determinable fair values | 2,976,000 | 2,670,000 | |
Total assets measured at fair value | 33,883,000 | 24,590,000 | |
Liabilities: | |||
Trading securities sold, not yet purchased | 2,051,000 | 1,880,000 | |
Total liabilities measured at fair value | 2,222,000 | 2,243,000 | |
Fair Value, Measurements, Recurring | Level 1 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 40,000 | 153,000 | |
Liabilities: | |||
Liabilities, derivatives | 39,000 | 163,000 | |
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 9,000 | ||
Liabilities: | |||
Liabilities, derivatives | 8,000 | ||
Fair Value, Measurements, Recurring | Level 1 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 98,000 | 169,000 | |
Liabilities: | |||
Liabilities, derivatives | 128,000 | 186,000 | |
Fair Value, Measurements, Recurring | Level 1 | Other contracts | |||
Assets: | |||
Assets, derivatives | 3,000 | 3,000 | |
Liabilities: | |||
Liabilities, derivatives | 4,000 | 6,000 | |
Fair Value, Measurements, Recurring | Level 1 | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 3,257,000 | 1,516,000 |
Available-for-sale securities | 19,600,000 | 11,950,000 | |
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 4,963,000 | 4,580,000 |
Available-for-sale securities | 627,000 | 935,000 | |
Fair Value, Measurements, Recurring | Level 1 | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 938,000 | 1,128,000 |
Available-for-sale securities | 430,000 | 436,000 | |
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3],[4] | 22,000 | 41,000 |
Fair Value, Measurements, Recurring | Level 1 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 929,000 | 1,000,000 |
Fair Value, Measurements, Recurring | Level 2 | |||
Assets: | |||
Equity securities with readily determinable fair values | 40,000 | 95,000 | |
Total assets measured at fair value | 22,181,000 | 22,712,000 | |
Liabilities: | |||
Trading securities sold, not yet purchased | 268,000 | 515,000 | |
Long-term debt | [2] | 2,164,000 | 1,916,000 |
Total liabilities measured at fair value | 10,462,000 | 12,008,000 | |
Fair Value, Measurements, Recurring | Level 2 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 6,088,000 | 7,070,000 | |
Liabilities: | |||
Liabilities, derivatives | 5,679,000 | 6,611,000 | |
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 2,123,000 | 2,900,000 | |
Liabilities: | |||
Liabilities, derivatives | 2,159,000 | 2,890,000 | |
Fair Value, Measurements, Recurring | Level 2 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 287,000 | 125,000 | |
Liabilities: | |||
Liabilities, derivatives | 109,000 | 47,000 | |
Fair Value, Measurements, Recurring | Level 2 | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 52,000 | 22,000 | |
Liabilities: | |||
Liabilities, derivatives | 75,000 | 19,000 | |
Fair Value, Measurements, Recurring | Level 2 | Other contracts | |||
Assets: | |||
Assets, derivatives | 10,000 | 11,000 | |
Liabilities: | |||
Liabilities, derivatives | 8,000 | 10,000 | |
Fair Value, Measurements, Recurring | Level 2 | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 11,000 | 22,000 |
Available-for-sale securities | 320,000 | 653,000 | |
Fair Value, Measurements, Recurring | Level 2 | Japanese local government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 138,000 | 170,000 |
Available-for-sale securities | 407,000 | 273,000 | |
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 829,000 | 461,000 |
Fair Value, Measurements, Recurring | Level 2 | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 526,000 | 547,000 |
Available-for-sale securities | 926,000 | 975,000 | |
Fair Value, Measurements, Recurring | Level 2 | Agency mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 4,348,000 | 3,390,000 |
Available-for-sale securities | 520,000 | 505,000 | |
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities | |||
Assets: | |||
Available-for-sale securities | 53,000 | 53,000 | |
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit and commercial paper | |||
Assets: | |||
Assets, trading securities | [3] | 1,259,000 | 1,036,000 |
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3],[4] | 1,348,000 | 1,398,000 |
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 570,000 | 650,000 |
Fair Value, Measurements, Recurring | Level 2 | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 1,579,000 | 1,678,000 | |
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 747,000 | 678,000 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Assets: | |||
Other investments | 56,000 | 39,000 | |
Total assets measured at fair value | 2,574,000 | 2,245,000 | |
Liabilities: | |||
Trading securities sold, not yet purchased | 20,000 | ||
Long-term debt | [2] | 638,000 | 621,000 |
Total liabilities measured at fair value | 708,000 | 702,000 | |
Fair Value, Measurements, Recurring | Level 3 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 7,000 | 9,000 | |
Liabilities: | |||
Liabilities, derivatives | 10,000 | 14,000 | |
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 20,000 | 17,000 | |
Liabilities: | |||
Liabilities, derivatives | 1,000 | 1,000 | |
Fair Value, Measurements, Recurring | Level 3 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 12,000 | 16,000 | |
Liabilities: | |||
Liabilities, derivatives | 23,000 | 33,000 | |
Fair Value, Measurements, Recurring | Level 3 | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 3,000 | 8,000 | |
Liabilities: | |||
Liabilities, derivatives | 2,000 | 10,000 | |
Fair Value, Measurements, Recurring | Level 3 | Other contracts | |||
Assets: | |||
Assets, derivatives | 15,000 | 24,000 | |
Liabilities: | |||
Liabilities, derivatives | 14,000 | 23,000 | |
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 9,000 | 10,000 |
Available-for-sale securities | 27,000 | 31,000 | |
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities | |||
Assets: | |||
Available-for-sale securities | 641,000 | 615,000 | |
Fair Value, Measurements, Recurring | Level 3 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3],[4] | 1,085,000 | 1,115,000 |
Fair Value, Measurements, Recurring | Level 3 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 30,000 | 30,000 |
Fair Value, Measurements, Recurring | Level 3 | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 491,000 | 157,000 | |
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | ¥ 178,000 | ¥ 174,000 | |
[1] | In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented for these classes of assets are intended to permit the reconciliation of the fair value hierarchy to the amounts presented in the statements of financial position. The amounts of unfunded commitments related to these investments at March 31, 2020 and September 30, 2020 were ¥47 billion and ¥56 billion, respectively. | ||
[2] | Amounts represent items for which the Group elected the fair value option or for which it applied the practicability exception. | ||
[3] | Trading securities include foreign currency denominated securities for which the MHFG Group elected the fair value option. | ||
[4] | The amount includes CLO and convertible bonds, which are classified in Level 3. |
Fair Value (Summary of Assets_2
Fair Value (Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis, Including Fair Value Option Elected) (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Unfunded commitments | ¥ 56 | ¥ 47 |
Fair Value (Reconciliation for
Fair Value (Reconciliation for All Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)) (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Other investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | ¥ 35 | |||
Gains (losses) in Earnings | [1] | 1 | ||
Gains (losses) in OCI | ¥ 0 | |||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 10 | |||
Sales | (1) | 0 | ||
Issuances | 0 | |||
Settlements | (10) | |||
Ending Balance | 36 | |||
Change in unrealized gain (losses) still held | [2] | 2 | ||
Trading securities sold, not yet purchased | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 0 | 1 | ||
Gains (losses) in Earnings | [3] | 0 | ||
Gains (losses) in OCI | 0 | |||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 0 | (9) | ||
Sales | 20 | 8 | ||
Issuances | 0 | |||
Settlements | 0 | |||
Ending Balance | 20 | |||
Change in unrealized gain (losses) still held | 0 | |||
Long-term debt | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 621 | 655 | ||
Gains (losses) in Earnings | [4] | (37) | (6) | |
Gains (losses) in OCI | [5] | (8) | 0 | |
Transfers into Level 3 | 19 | 17 | ||
Transfers out of level 3 | (35) | (6) | ||
Purchases | 0 | |||
Sales | 0 | |||
Issuances | 108 | 108 | ||
Settlements | (120) | (134) | ||
Ending Balance | 638 | 646 | ||
Change in unrealized gain (losses) still held | (27) | (10) | [2] | |
Trading securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Transfers out of level 3 | (1) | |||
Issuances | 0 | |||
Trading securities | Residential mortgage-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 10 | 11 | ||
Gains (losses) in Earnings | [3] | 0 | ||
Gains (losses) in OCI | 0 | |||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 0 | |||
Sales | 0 | |||
Issuances | 0 | |||
Settlements | (1) | (1) | ||
Ending Balance | 9 | 10 | ||
Change in unrealized gain (losses) still held | 0 | |||
Trading securities | Corporate bonds and other debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 1,115 | 1,044 | ||
Gains (losses) in Earnings | [3] | 18 | (15) | |
Gains (losses) in OCI | 0 | |||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | (1) | |||
Purchases | 189 | 338 | ||
Sales | (113) | (105) | ||
Issuances | 0 | |||
Settlements | (123) | (125) | ||
Ending Balance | 1,085 | 1,137 | ||
Change in unrealized gain (losses) still held | 18 | (14) | [2] | |
Trading securities | Equity securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 30 | 28 | ||
Gains (losses) in Earnings | [3] | (2) | 2 | |
Gains (losses) in OCI | 0 | |||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 2 | 1 | ||
Sales | 0 | 0 | ||
Settlements | 0 | (1) | ||
Ending Balance | 30 | 30 | ||
Change in unrealized gain (losses) still held | (1) | 0 | [2] | |
Derivative financial instruments assets | Interest rate contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | [6] | (5) | 13 | |
Gains (losses) in Earnings | [3] | (3) | (9) | [6] |
Gains (losses) in OCI | [6] | 0 | ||
Transfers into Level 3 | [6] | 0 | ||
Transfers out of level 3 | [6] | 0 | ||
Purchases | [6] | 0 | ||
Sales | [6] | 0 | ||
Issuances | [6] | 0 | ||
Settlements | [6] | 5 | 1 | |
Ending Balance | [6] | (3) | 5 | |
Change in unrealized gain (losses) still held | [6] | 1 | (8) | [2] |
Derivative financial instruments assets | Foreign exchange contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | [6] | 16 | 22 | |
Gains (losses) in Earnings | [3] | 4 | (10) | [6] |
Gains (losses) in OCI | [6] | 0 | ||
Transfers into Level 3 | [6] | 0 | ||
Transfers out of level 3 | [6] | 0 | ||
Purchases | [6] | 0 | ||
Sales | [6] | 0 | ||
Issuances | [6] | 0 | ||
Settlements | [6] | (1) | (2) | |
Ending Balance | [6] | 19 | 10 | |
Change in unrealized gain (losses) still held | [6] | 5 | (9) | [2] |
Derivative financial instruments assets | Equity-related contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | [6] | (17) | (5) | |
Gains (losses) in Earnings | [3] | 4 | 1 | [6] |
Gains (losses) in OCI | [6] | 0 | ||
Transfers into Level 3 | [6] | 0 | ||
Transfers out of level 3 | [6] | 0 | ||
Purchases | [6] | 0 | ||
Sales | [6] | 0 | ||
Issuances | [6] | 0 | ||
Settlements | [6] | 2 | (3) | |
Ending Balance | [6] | (11) | (7) | |
Change in unrealized gain (losses) still held | [6] | 3 | 2 | [2] |
Derivative financial instruments assets | Credit-related contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | [6] | (2) | 1 | |
Gains (losses) in Earnings | [3] | 3 | ||
Gains (losses) in OCI | [6] | 0 | ||
Transfers into Level 3 | [6] | 1 | ||
Transfers out of level 3 | [6] | 1 | ||
Purchases | [6] | 0 | ||
Sales | [6] | 0 | ||
Issuances | [6] | 0 | ||
Settlements | [6] | (2) | ||
Ending Balance | [6] | 1 | 1 | |
Change in unrealized gain (losses) still held | [6] | 1 | ||
Derivative financial instruments assets | Other contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | [6] | 1 | 1 | |
Gains (losses) in Earnings | [3] | 0 | ||
Gains (losses) in OCI | [6] | 0 | ||
Transfers into Level 3 | [6] | 0 | ||
Transfers out of level 3 | [6] | 0 | ||
Purchases | [6] | 0 | ||
Sales | [6] | 0 | ||
Issuances | [6] | 0 | ||
Settlements | [6] | 0 | ||
Ending Balance | [6] | 1 | 1 | |
Change in unrealized gain (losses) still held | [6] | 0 | ||
Available-for-sale securities | Residential mortgage-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 31 | 40 | ||
Gains (losses) in Earnings | [1] | 0 | ||
Gains (losses) in OCI | [5] | 0 | ||
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 0 | |||
Sales | 0 | |||
Issuances | 0 | |||
Settlements | (4) | (7) | ||
Ending Balance | 27 | 33 | ||
Change in unrealized gain (losses) still held | 0 | |||
Available-for-sale securities | Commercial mortgage-backed securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 615 | 500 | ||
Gains (losses) in Earnings | [1] | 0 | ||
Gains (losses) in OCI | [5] | 1 | 1 | |
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 78 | 89 | ||
Sales | (51) | (35) | ||
Issuances | 0 | |||
Settlements | (2) | (6) | ||
Ending Balance | 641 | 549 | ||
Change in unrealized gain (losses) still held | 0 | |||
Available-for-sale securities | Japanese corporate bonds and other debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 157 | 120 | ||
Gains (losses) in Earnings | [1] | (7) | 1 | |
Gains (losses) in OCI | [5] | 8 | 4 | |
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 344 | 97 | ||
Sales | 0 | 0 | ||
Issuances | 0 | |||
Settlements | (11) | (53) | ||
Ending Balance | 491 | 169 | ||
Change in unrealized gain (losses) still held | 0 | |||
Available-for-sale securities | Foreign corporate bonds and other debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 174 | 103 | ||
Gains (losses) in Earnings | [1] | 1 | ||
Gains (losses) in OCI | [5] | 8 | (5) | |
Transfers into Level 3 | 0 | |||
Transfers out of level 3 | 0 | |||
Purchases | 31 | 38 | ||
Sales | 0 | |||
Issuances | 0 | |||
Settlements | (36) | (3) | ||
Ending Balance | 178 | ¥ 133 | ||
Change in unrealized gain (losses) still held | 0 | |||
Available-for-sale securities | Other investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 39 | |||
Gains (losses) in Earnings | [1] | (1) | ||
Purchases | 38 | |||
Settlements | (19) | |||
Ending Balance | 56 | |||
Change in unrealized gain (losses) still held | ¥ (1) | |||
[1] | Gains (losses) in Earnings are reported in Investment gains (losses)-net. | |||
[2] | Amounts represent total gains or losses recognized in earnings and OCI during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at September 30, 2019 and 2020.The amounts of unrealized gains (losses) in OCI related to Available-for-sale securities and Long-term debt were ¥7 billion and ¥(8) billion, at September 30, 2020, respectively. | |||
[3] | Gains (losses) in Earnings are reported in Trading account gains (losses)-net, Foreign exchange gains (losses)-net or Other noninterest income (expenses). | |||
[4] | Gains (losses) in Earnings are reported in Other noninterest income (expenses). | |||
[5] | Gains (losses) in OCI are reported in Other comprehensive income (loss). | |||
[6] | Total Level 3 derivative exposures have been netted on the table for presentation purposes only. |
Fair Value (Reconciliation fo_2
Fair Value (Reconciliation for All Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)) (Parenthetical) (Detail) ¥ in Billions | Sep. 30, 2020JPY (¥) |
Fair Value Disclosures [Abstract] | |
unrealized gains (losses) in OCI related to Available-for-sale securities | ¥ 7 |
unrealized gains (losses) in OCI related to Long-term debt | ¥ (8) |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information about Significant Unobservable Inputs Related to Material Classes of Level 3 Assets and Liabilities) (Detail) ¥ in Millions | Sep. 30, 2020JPY (¥) | Mar. 31, 2020JPY (¥) | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | ¥ 2,802,428 | ¥ 2,537,082 | |||
Available For Sale And Trading Securities | Residential mortgage-backed securities | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 36,000 | 41,000 | |||
Available For Sale And Trading Securities | Commercial mortgage-backed securities | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 641,000 | 615,000 | |||
Available For Sale And Trading Securities | Corporate bonds and other debt securities | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 1,754,000 | 1,446,000 | |||
Derivative Financial Instruments | Interest rate contracts | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | (3,000) | (5,000) | |||
Derivative Financial Instruments | Foreign exchange contracts | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | 19,000 | 16,000 | |||
Derivative Financial Instruments | Equity-related contracts | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | (11,000) | (17,000) | |||
Derivative Financial Instruments | Credit-related contracts | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | 1,000 | (2,000) | |||
Derivative Financial Instruments | Other contracts | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | 1,000 | ||||
Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | ¥ 638,000 | ¥ 621,000 | |||
Minimum | Other contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 0 | ||||
Minimum | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 3 | 4 | |||
Minimum | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 1 | 13 | ||
Minimum | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 0 | 0 | |||
Minimum | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 0 | 0 | ||
Minimum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Interest rate contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2],[3] | 0 | |||
Minimum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2],[3] | 0 | |||
Minimum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 0 | 0 | ||
Minimum | Measurement Input, Default Rate [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 0 | 0 | ||
Minimum | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 100 | 100 | |||
Minimum | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 10 | 10 | ||
Minimum | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 5 | 5 | |||
Minimum | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 25 | 61 | ||
Minimum | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 6 | 7 | |||
Minimum | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 4 | [1] | 5 | [4] | |
Minimum | Measurement Input, IR - IR correlation [Member] | Derivative Financial Instruments | Interest rate contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 23 | 23 | ||
Minimum | Measurement Input, IR - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 23 | 23 | ||
Minimum | Measurement Input, FX - IR correlation [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 27 | (37) | ||
Minimum | Measurement Input, FX - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 27 | (37) | ||
Minimum | Measurement Input, FX - FX correlation [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 46 | 56 | ||
Minimum | Measurement Input, FX - FX correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 46 | 56 | ||
Minimum | Measurement Input, Equity - IR correlation [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 25 | 25 | ||
Minimum | Measurement Input, Equity - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 25 | 25 | ||
Minimum | Measurement Input, Equity - FX correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 33 | (33) | ||
Minimum | Measurement Input, Equity volatility [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 12 | 13 | ||
Minimum | Measurement Input, Equity volatility [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 13 | 15 | ||
Minimum | Measurement Input, Credit correlation [Member] | Derivative Financial Instruments | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 35 | 30 | ||
Minimum | Measurement Input, Credit correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 18 | 15 | ||
Minimum | Measurement Input, Equity correlation [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 0 | 0 | ||
Minimum | Measurement Input, Equity correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 0 | 0 | ||
Maximum | Other contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 57 | ||||
Maximum | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 16 | 16 | |||
Maximum | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 22 | 21 | ||
Maximum | Measurement Input, Default Rate [Member] | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 1 | ||||
Maximum | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 1 | ||||
Maximum | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 3 | 2 | ||
Maximum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Interest rate contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2],[3] | 63 | |||
Maximum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2],[3] | 63 | |||
Maximum | Measurement Input, Default Rate [Member] | Derivative Financial Instruments | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 7 | 15 | ||
Maximum | Measurement Input, Default Rate [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 6 | 12 | ||
Maximum | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 100 | 100 | |||
Maximum | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 69 | 70 | ||
Maximum | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 170 | 170 | |||
Maximum | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [1] | 173 | 1,160 | ||
Maximum | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 185 | 185 | |||
Maximum | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | 696 | [1] | 1,528 | [4] | |
Maximum | Measurement Input, IR - IR correlation [Member] | Derivative Financial Instruments | Interest rate contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 100 | 100 | ||
Maximum | Measurement Input, IR - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 100 | 100 | ||
Maximum | Measurement Input, FX - IR correlation [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 52 | 49 | ||
Maximum | Measurement Input, FX - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 52 | 50 | ||
Maximum | Measurement Input, FX - FX correlation [Member] | Derivative Financial Instruments | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 63 | 65 | ||
Maximum | Measurement Input, FX - FX correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 63 | 65 | ||
Maximum | Measurement Input, Equity - IR correlation [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 25 | 25 | ||
Maximum | Measurement Input, Equity - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 25 | 25 | ||
Maximum | Measurement Input, Equity - FX correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 100 | 100 | ||
Maximum | Measurement Input, Equity volatility [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 96 | 157 | ||
Maximum | Measurement Input, Equity volatility [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 96 | 157 | ||
Maximum | Measurement Input, Credit correlation [Member] | Derivative Financial Instruments | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 100 | 100 | ||
Maximum | Measurement Input, Credit correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 100 | 100 | ||
Maximum | Measurement Input, Equity correlation [Member] | Derivative Financial Instruments | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [2] | 100 | 100 | ||
Maximum | Measurement Input, Equity correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [2] | 100 | 100 | ||
Weighted Average | Other contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 36 | |||
Weighted Average | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 7 | 7 | ||
Weighted Average | Measurement Input, Prepayment Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 19 | 21 | ||
Weighted Average | Measurement Input, Default Rate [Member] | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 1 | |||
Weighted Average | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 0 | 0 | ||
Weighted Average | Measurement Input, Default Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 1 | 2 | ||
Weighted Average | Measurement Input, Default Rate [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 2 | |||
Weighted Average | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 100 | 100 | ||
Weighted Average | Measurement Input Recovery Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 67 | 67 | ||
Weighted Average | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 50 | 52 | ||
Weighted Average | Measurement Input, Discount Rate [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 123 | 256 | ||
Weighted Average | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 21 | 22 | ||
Weighted Average | Measurement Input Discount Rate1 [Member] | Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flows Valuation Technique [Member] | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Trading securities | [5] | 233 | 58 | ||
Weighted Average | Measurement Input, IR - IR correlation [Member] | Derivative Financial Instruments | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 76 | |||
Weighted Average | Measurement Input, IR - IR correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 76 | |||
Weighted Average | Measurement Input, FX - IR correlation [Member] | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 28 | |||
Weighted Average | Measurement Input, FX - IR correlation [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 35 | |||
Weighted Average | Measurement Input, FX - FX correlation [Member] | Foreign exchange contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 55 | |||
Weighted Average | Measurement Input, FX - FX correlation [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 55 | |||
Weighted Average | Measurement Input, Equity - IR correlation [Member] | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 25 | |||
Weighted Average | Measurement Input, Equity - IR correlation [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 25 | |||
Weighted Average | Measurement Input, Equity - FX correlation [Member] | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 88 | |||
Weighted Average | Measurement Input, Equity - FX correlation [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | (3) | |||
Weighted Average | Measurement Input, Equity volatility [Member] | Equity-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 43 | |||
Weighted Average | Measurement Input, Equity volatility [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 29 | |||
Weighted Average | Measurement Input, Credit correlation [Member] | Credit-related contracts | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Derivatives financial instruments | [5] | 66 | |||
Weighted Average | Measurement Input, Credit correlation [Member] | Long-term debt | Internal Valuation Model | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 66 | |||
Weighted Average | Measurement Input, Equity correlation [Member] | Long-term debt | |||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||||
Long-term debt | [5] | 86 | |||
[1] | These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. | ||||
[2] | Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. | ||||
[3] | This input represents the counterparty default rate derived from the MHFG Group’s own internal credit analyses. | ||||
[4] | This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. | ||||
[5] | Averages are calculated by weighting each input by the relative fair value of the respective financial instruments except for derivative related inputs where medians are used. |
Fair Value (Summary of Assets_3
Fair Value (Summary of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Assets: | ||
Equity securities (without readily determinable fair values) | ¥ 402,194 | ¥ 419,775 |
Fair Value, Measurements, Nonrecurring | ||
Assets: | ||
Loans | 131,000 | 90,000 |
Loans held-for-sale | 17,000 | 26,000 |
Equity securities (without readily determinable fair values) | 1,000 | 2,000 |
Other investments | 52,000 | |
Premises and equipment-net | 0 | 1,000 |
Total assets measured at fair value | 201,000 | 119,000 |
Fair Value, Measurements, Nonrecurring | Aggregate cost | ||
Assets: | ||
Loans | 200,000 | 136,000 |
Loans held-for-sale | 18,000 | 26,000 |
Equity securities (without readily determinable fair values) | 2,000 | 2,000 |
Other investments | 59,000 | |
Premises and equipment-net | 1,000 | 12,000 |
Other assets | 3,000 | |
Goodwill | 2,000 | |
Total assets measured at fair value | 280,000 | 181,000 |
Fair Value, Measurements, Nonrecurring | Level 1 | ||
Assets: | ||
Loans | 0 | |
Loans held-for-sale | 0 | |
Equity securities (without readily determinable fair values) | 0 | |
Other investments | 31,000 | |
Premises and equipment-net | 0 | |
Total assets measured at fair value | 31,000 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Assets: | ||
Loans | 2,000 | 0 |
Loans held-for-sale | 11,000 | 20,000 |
Equity securities (without readily determinable fair values) | 0 | |
Other investments | 0 | |
Premises and equipment-net | 0 | 1,000 |
Total assets measured at fair value | 13,000 | 21,000 |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Assets: | ||
Loans | 129,000 | 90,000 |
Loans held-for-sale | 6,000 | 6,000 |
Equity securities (without readily determinable fair values) | 1,000 | 2,000 |
Other investments | 21,000 | |
Premises and equipment-net | 0 | 0 |
Total assets measured at fair value | ¥ 157,000 | ¥ 98,000 |
Fair Value (Carrying Amounts an
Fair Value (Carrying Amounts and Fair Values of Certain Financial Instruments, Excluding Financial Instruments Carried at Fair Value on a Recurring Basis and Those outside Scope of ASC 825) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Financial liabilities: | |||
Long-term debt | ¥ 2,802,428 | ¥ 2,537,082 | |
Carrying amount | |||
Financial assets: | |||
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 58,623,000 | 63,755,000 | |
Investments | 790,000 | 862,000 | |
Loans, net of allowance | [1] | 89,611,000 | 86,914,000 |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 53,640,000 | 51,954,000 | |
Interest-bearing deposits | 118,333,000 | 114,653,000 | |
Due to trust accounts | 564,000 | 250,000 | |
Other short-term borrowings | 7,526,000 | 4,914,000 | |
Long-term debt | 8,266,000 | 7,821,000 | |
Estimated fair value | |||
Financial assets: | |||
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 58,623,000 | 63,755,000 | |
Investments | 812,000 | 875,000 | |
Loans, net of allowance | [1] | 90,983,000 | 88,124,000 |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 53,640,000 | 51,954,000 | |
Interest-bearing deposits | 118,347,000 | 114,659,000 | |
Due to trust accounts | 564,000 | 250,000 | |
Other short-term borrowings | 7,526,000 | 4,914,000 | |
Long-term debt | 8,493,000 | 7,708,000 | |
Estimated fair value | Level 1 | |||
Financial assets: | |||
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 42,233,000 | 1,318,000 | |
Investments | 491,000 | 493,000 | |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 29,812,000 | ||
Interest-bearing deposits | 58,935,000 | ||
Estimated fair value | Level 2 | |||
Financial assets: | |||
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 16,390,000 | 62,437,000 | |
Investments | 321,000 | 382,000 | |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 53,640,000 | 22,142,000 | |
Interest-bearing deposits | 118,347,000 | 55,724,000 | |
Due to trust accounts | 564,000 | 250,000 | |
Other short-term borrowings | 7,526,000 | 4,914,000 | |
Long-term debt | 7,155,000 | 6,813,000 | |
Estimated fair value | Level 3 | |||
Financial assets: | |||
Loans, net of allowance | [1] | 90,983,000 | 88,124,000 |
Financial liabilities: | |||
Long-term debt | ¥ 1,338,000 | ¥ 895,000 | |
[1] | Loans, net of allowance include items measured at fair value on a nonrecurring basis. |
Offsetting of Financial Asset_3
Offsetting of Financial Assets and Financial Liabilities (Information of Offsetting of Financial Assets and Financial Liabilities) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | [1] | ||
Offsetting Financial Assets And Financial Liabilities [Line Items] | |||||
Derivative assets, Gross amounts recognized | ¥ 8,758 | ¥ 9,819 | |||
Derivative assets, Gross amounts offset on the balance sheet | 0 | 0 | |||
Derivative assets, Net amounts presented on the balance sheet | [2] | 8,758 | [3] | 9,819 | |
Derivative assets, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (6,373) | (7,723) | ||
Derivative assets, Amounts not offset on the balance sheet, Cash collateral | [4] | (486) | (629) | ||
Derivative assets, Net amounts | 1,899 | 1,467 | |||
Receivables under resale agreements, Gross amounts recognized | 12,666 | 17,347 | |||
Receivables under resale agreements, Gross amounts offset on the balance sheet | 0 | 0 | |||
Receivables under resale agreements, Net amounts presented on the balance sheet | [2] | 12,666 | [6] | 17,347 | |
Receivables under resale agreements, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (11,479) | (17,197) | ||
Receivables under resale agreements, Amounts not offset on the balance sheet, Cash collateral | [4] | 0 | 0 | ||
Receivables under resale agreements, Net amounts | 1,187 | 150 | |||
Receivables under securities borrowing transactions, Gross amounts recognized | 2,186 | 1,753 | |||
Receivables under securities borrowing transactions, Gross amounts offset on the balance sheet | 0 | 0 | |||
Receivables under securities borrowing transactions, Net amounts presented on the balance sheet | [2] | 2,186 | [7] | 1,753 | |
Receivables under securities borrowing transactions, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (1,846) | (1,709) | ||
Receivables under securities borrowing transactions, Amounts not offset on the balance sheet, Cash collateral | [4] | 0 | 0 | ||
Receivables under securities borrowing transactions, Net amounts | 340 | 44 | |||
Financial assets, Gross amounts recognized, Total | 23,610 | 28,919 | |||
Financial assets, Gross amounts offset on the balance sheet, Total | 0 | 0 | |||
Financial assets, Net amounts presented on the balance sheet, Total | [2] | 23,610 | 28,919 | ||
Financial assets, Amounts not offset on the balance sheet, Financial instruments, Total | [4],[5] | (19,698) | (26,629) | ||
Financial assets, Amounts not offset on the balance sheet, Cash collateral, Total | [4] | (486) | (629) | ||
Financial assets, Net amounts, Total | 3,426 | 1,661 | |||
Derivative liabilities, Gross amounts recognized | 8,251 | 9,220 | |||
Derivative liabilities, Gross amounts offset on the balance sheet | 0 | 0 | |||
Derivative liabilities, Net amounts presented on the balance sheet | [2] | 8,251 | [3] | 9,220 | |
Derivative liabilities, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (6,148) | (7,519) | ||
Derivative liabilities, Amounts not offset on the balance sheet, Cash collateral | [4] | (930) | (1,215) | ||
Derivative liabilities, Net amounts | 1,173 | 486 | |||
Payables under repurchase agreements, Gross amounts recognized | 19,326 | 17,542 | |||
Payables under repurchase agreements, Gross amounts offset on the balance sheet | 0 | 0 | |||
Payables under repurchase agreements, Net amounts presented on the balance sheet | [2] | 19,326 | [6] | 17,542 | |
Payables under repurchase agreements, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (18,038) | (17,191) | ||
Payables under repurchase agreements, Amounts not offset on the balance sheet, Cash collateral | [4] | 0 | 0 | ||
Payables under repurchase agreements, Net amounts | 1,288 | 351 | |||
Payables under securities lending transactions, Gross amounts recognized | 1,476 | 626 | |||
Payables under securities lending transactions, Gross amounts offset on the balance sheet | 0 | 0 | |||
Payables under securities lending transactions, Net amounts presented on the balance sheet | [2] | 1,476 | [7] | 626 | |
Payables under securities lending transactions, Amounts not offset on the balance sheet, Financial instruments | [4],[5] | (1,235) | (623) | ||
Payables under securities lending transactions, Amounts not offset on the balance sheet, Cash collateral | [4] | 0 | 0 | ||
Payables under securities lending transactions, Net amounts | 241 | 3 | |||
Financial liabilities, Gross amounts recognized, Total | 29,053 | 27,388 | |||
Financial liabilities, Gross amounts offset on the balance sheet, Total | 0 | 0 | |||
Financial liabilities, Net amounts presented on the balance sheet, Total | [2] | 29,053 | 27,388 | ||
Financial liabilities, Amounts not offset on the balance sheet, Financial instruments, Total | [4],[5] | (25,421) | (25,333) | ||
Financial liabilities, Amounts not offset on the balance sheet, Cash collateral, Total | [4] | (930) | (1,215) | ||
Financial liabilities, Net amounts, Total | ¥ 2,702 | ¥ 840 | |||
[1] | Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter (“OTC”) and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. | ||||
[2] | Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. | ||||
[3] | The amounts of derivative assets and liabilities subject to enforceable master netting arrangements or similar agreements at September 30, 2020 were ¥8,154 billion and ¥7,528 billion, respectively. | ||||
[4] | Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. | ||||
[5] | For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. | ||||
[6] | The amounts of Receivables under resale agreements and Payables under repurchase agreements subject to enforceable industry standard master repurchase agreements with netting terms at September 30, 2020 were ¥11,490 billion and ¥18,755 billion, respectively. | ||||
[7] | The amounts of Receivables under securities borrowing transactions and Payables under securities lending transactions subject to enforceable industry standard master lending agreements with netting terms at September 30, 2020 were ¥1,915 billion and ¥1,243 billion, respectively. |
Offsetting of Financial Asset_4
Offsetting of Financial Assets and Financial Liabilities (Information of Offsetting of Financial Assets and Financial Liabilities) (Parenthetical) (Detail) ¥ in Billions | Sep. 30, 2020JPY (¥) |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Receivables under resale agreement subject to enforceable master netting arrangements | ¥ 11,490 |
Payables under repurchase agreement subject to enforceable master netting arrangements | 18,755 |
Receivables under securities transaction borrowing subject to master netting arrangement | 1,915 |
Payables under securities transaction lending subject to master netting arragement | 1,243 |
Subject To Enforceable Master Netting Arragement [Member] | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Derivative assets subject to enforceable master netting arrangements | 8,154 |
Derivative liabilities subject to enforceable master netting arrangements | ¥ 7,528 |
Repurchase Agreements and Sec_3
Repurchase Agreements and Securities Lending Transactions Accounted for as Secured Borrowings (Gross Amounts of Liabilities by Remaining Contractual Maturity) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | [1] | ¥ 19,326 | ¥ 17,971 |
Securities lending transactions | [1] | 1,476 | 1,424 |
Total | 20,802 | 19,395 | |
Overnight and continuous | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 10,154 | 6,357 | |
Securities lending transactions | 798 | 877 | |
Total | 10,952 | 7,234 | |
Up to 30 Days | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 3,684 | 5,467 | |
Securities lending transactions | 298 | 231 | |
Total | 3,982 | 5,698 | |
31 to 90 Days | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 3,162 | 4,867 | |
Securities lending transactions | 50 | ||
Total | 3,212 | 4,867 | |
Greater than 90 Days | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 2,326 | 1,280 | |
Securities lending transactions | 330 | 316 | |
Total | ¥ 2,656 | ¥ 1,596 | |
[1] | Amounts exceeded the gross amounts recognized in Note 18 “Offsetting of financial assets and financial liabilities” by ¥1,227 billion and ¥804 billion, at March 31, 2020 and September 30, 2020, respectively, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. |
Repurchase Agreements and Sec_4
Repurchase Agreements and Securities Lending Transactions Accounted for as Secured Borrowings (Gross Amounts of Liabilities by Class of Underlying Collateral) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | [1] | ¥ 19,326 | ¥ 17,971 |
Securities lending transactions | [1] | 1,476 | 1,424 |
Japanese government bonds and Japanese local government bonds | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 3,355 | 1,790 | |
Securities lending transactions | 372 | 269 | |
Foreign government bonds and foreign agency mortgage-backed securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 15,100 | 15,218 | |
Securities lending transactions | 368 | 359 | |
Commercial Paper and Corporate Bonds | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 209 | 273 | |
Securities lending transactions | 53 | 50 | |
Equity Securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 579 | 542 | |
Securities lending transactions | 668 | 730 | |
Other securities | |||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |||
Repurchase agreements | 83 | 148 | |
Securities lending transactions | ¥ 15 | ¥ 16 | |
[1] | Amounts exceeded the gross amounts recognized in Note 18 “Offsetting of financial assets and financial liabilities” by ¥1,227 billion and ¥804 billion, at March 31, 2020 and September 30, 2020, respectively, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. |
Repurchase Agreements and Sec_5
Repurchase Agreements and Securities Lending Transactions Accounted for as Secured Borrowings (Gross Amounts of Liabilities by Class of Underlying Collateral) (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Amounts exceeded the gross amounts recognized in offsetting of financial assets and financial liabilities | ¥ 804 | ¥ 1,227 |
Repurchase Agreements and Sec_6
Repurchase Agreements and Securities Lending Transactions Accounted for as Secured Borrowings - Additional Information (Detail) | Sep. 30, 2020 | Mar. 31, 2020 |
Brokers and Dealers [Abstract] | ||
Assets Pledged As Collateral As A Percentage Of Total Assets | 5.00% | 2.00% |
Business Segment Information -
Business Segment Information - Additional Information (Detail) | 6 Months Ended |
Sep. 30, 2020Segment | |
Segment Reporting Information [Line Items] | |
Number of operating segments | 5 |
Business Segment Information (R
Business Segment Information (Reportable Segment Information Derived from Internal Management Reporting Systems, on Basis of Japanese GAAP) (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | ¥ 1,093.3 | ¥ 1,022.8 | [2] |
General and administrative expenses | [3] | 679.3 | 688.4 | [2] |
Equity in earnings (losses) of equity method investees—net | 11.5 | 19 | [2] | |
Amortization of goodwill and others | 6.1 | 6.6 | [2] | |
Others | [2] | (5.9) | ||
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | 419.4 | 340.9 | [2] |
Fixed assets | [5] | 1,721.3 | 1,701.6 | [2] |
Operating Segments | Retail And Business Banking Company | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | 307.4 | 322 | [2] |
General and administrative expenses | [3] | 315 | 330.7 | [2] |
Equity in earnings (losses) of equity method investees—net | 3.6 | 6.4 | [2] | |
Amortization of goodwill and others | 1.1 | 1.4 | [2] | |
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | (5.1) | (3.7) | [2] |
Fixed assets | [5] | 518.5 | 508.2 | [2] |
Operating Segments | Corporate And Institutional Company | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | 234.2 | 220.2 | [2] |
General and administrative expenses | [3] | 104.6 | 104 | [2] |
Equity in earnings (losses) of equity method investees—net | 2.4 | 1.1 | [2] | |
Amortization of goodwill and others | 0.1 | 0.1 | [2] | |
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | 131.9 | 117.2 | [2] |
Fixed assets | [5] | 186.3 | 208.4 | [2] |
Operating Segments | Global Corporate Company | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | 222.6 | 203.9 | [2] |
General and administrative expenses | [3] | 121.4 | 118.6 | [2] |
Equity in earnings (losses) of equity method investees—net | 5.8 | 6 | [2] | |
Amortization of goodwill and others | 0.2 | 0.2 | [2] | |
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | 106.8 | 91.1 | [2] |
Fixed assets | [5] | 157 | 160.1 | [2] |
Operating Segments | Global Markets Company | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | 291.5 | 235 | [2] |
General and administrative expenses | [3] | 105.6 | 101.4 | [2] |
Amortization of goodwill and others | 0.4 | 0.5 | [2] | |
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | 185.5 | 133.1 | [2] |
Fixed assets | [5] | 90.9 | 92.8 | [2] |
Operating Segments | Asset Management Company | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1] | 23.6 | 25.5 | [2] |
General and administrative expenses | [3] | 15.7 | 16.4 | [2] |
Equity in earnings (losses) of equity method investees—net | 0.4 | 0.5 | [2] | |
Amortization of goodwill and others | 3.8 | 3.9 | [2] | |
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4] | 4.5 | 5.7 | [2] |
Fixed assets | [5] | 0.1 | 0.1 | [2] |
Others | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits + Net gains (losses) related to ETFs and others | [1],[6] | 14 | 16.2 | [2] |
General and administrative expenses | [3],[6] | 17 | 17.3 | [2] |
Equity in earnings (losses) of equity method investees—net | [6] | (0.7) | 5 | [2] |
Amortization of goodwill and others | [6] | 0.5 | 0.5 | [2] |
Others | [2],[6] | (5.9) | ||
Net business profits (losses) + Net gains (losses) related to ETFs and others | [4],[6] | (4.2) | (2.5) | [2] |
Fixed assets | [5],[6] | ¥ 768.5 | ¥ 732 | [2] |
[1] | “Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs and others consist of net gains (losses) on ETFs held by MHBK and MHTB on their non-consolidated basis and net gains (losses) on operating investment securities of MHSC on its consolidated basis. For the six months ended September 30, 2019 and 2020, net gains (losses) related to ETFs and others amounted to ¥(8.0) billion and ¥(19.0) billion, respectively, of which ¥(11.2) billion and ¥(20.4) billion are included in “Global Markets Company,” respectively. | |||
[2] | Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates. | |||
[3] | “General and administrative expenses” excludes non-allocated gains (losses), net. | |||
[4] | Net business profits (losses) is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (as defined above) less general and administrative expenses plus equity in earnings (losses) of equity method investees-net and others. Measurement of net business profits (losses) is required for regulatory reporting to the Financial Services Agency of Japan. | |||
[5] | “Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and equipment-net; Goodwill; Intangible assets; and right-of-use assets related to operating leases included in Other assets. The above table does not include other asset amounts because “Fixed assets” is the only balance sheet metric that management uses when evaluating and making decisions pertaining to the operating segments. “Others” in “Fixed assets” includes assets of headquarters that have not been allocated to each segment, “Fixed assets” pertaining to consolidated subsidiaries that are not subject to allocation, consolidating adjustments, and others. Certain “Fixed assets” expenses have been allocated to each segment using reasonable allocation criteria. | |||
[6] | “Others” includes the following items: • profits and expenses pertaining to consolidated subsidiaries that are not subject to allocation; • consolidating adjustments, including elimination internal transaction between each segment; • equity in earnings (losses) of equity method investees-net that are not subject to allocation; and • profits and losses pertaining to derivative transactions that reflect the counterparty risk of the individual parties and other factors in determining fair market value. |
Business Segment Information _2
Business Segment Information (Reportable Segment Information Derived from Internal Management Reporting Systems, on Basis of Japanese GAAP) (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits and net gains (losses) related to ETFs and others | [1] | ¥ 1,093.3 | ¥ 1,022.8 | [2] |
Exchange Traded Funds | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits and net gains (losses) related to ETFs and others | (19) | (8) | ||
Global Markets Company | Exchange Traded Funds | ||||
Japan Gaap Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Gross profits and net gains (losses) related to ETFs and others | ¥ (20.4) | ¥ (11.2) | ||
[1] | “Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs and others consist of net gains (losses) on ETFs held by MHBK and MHTB on their non-consolidated basis and net gains (losses) on operating investment securities of MHSC on its consolidated basis. For the six months ended September 30, 2019 and 2020, net gains (losses) related to ETFs and others amounted to ¥(8.0) billion and ¥(19.0) billion, respectively, of which ¥(11.2) billion and ¥(20.4) billion are included in “Global Markets Company,” respectively. | |||
[2] | Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates. |
Business Segment Information _3
Business Segment Information (Reconciliation of Total Net Business Profits under Internal Management Reporting Systems to Income Before Income Tax Expense on Consolidated Statements of Income) (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Net business profits (losses) + Net gains (losses) related to ETFs and others | ¥ 419,400 | ¥ 340,900 | |
Adjustment to reconcile management reporting to Japanese GAAP: | |||
General and administrative expenses: non-allocated gains (losses), net | 4,100 | 24,500 | |
Expenses related to portfolio problems (including reversal of (provision for) general reserve for losses on loans) | (84,800) | (19,100) | |
Gains on reversal of reserves for possible losses on loans, and others | 3,600 | 7,900 | |
Net gains (losses) related to stocks—Net gains (losses) related to ETFs and others | (50,500) | 55,400 | |
Net extraordinary gains (losses) | 65,800 | (5,000) | |
Others | (24,200) | (13,100) | |
Income before income tax expense under Japanese GAAP | 333,400 | 391,500 | |
Adjustment to reconcile Japanese GAAP to U.S. GAAP: | |||
Derivative financial instruments and hedging activities | (12,900) | 105,000 | |
Investments | 285,400 | (163,900) | |
Loans | (10,800) | 0 | |
Allowances for credit losses | [1] | 35,800 | 500 |
Premises and equipment | (37,100) | (51,500) | |
Land revaluation | 2,700 | 500 | |
Business combinations | (4,300) | 4,100 | |
Pension liabilities | (84,500) | (27,300) | |
Consolidation of variable interest entities | 36,600 | 40,300 | |
Foreign currency translation | (200) | 14,300 | |
Others | 3,700 | (3,000) | |
Income before income tax expense | ¥ 547,841 | ¥ 310,456 | |
[1] | The MHFG Group adopted ASU No.2016-13, 2019-04, 2019-05, and 2019-11 on April 1, 2020. Allowances for credit losses for the six months ended September 30, 2020 substitute allowances for loan losses and off-balance-sheet instruments for the six months ended September 30, 2019. See Note 2 “Issued accounting pronouncements” for further details. |
Business Segment Information _4
Business Segment Information (Reconciliation of Assets from Segment to Consolidated) (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Schedule Of Assets By Segment [Line Items] | ||||
Fixed assets | [1] | ¥ 1,721.3 | ¥ 1,701.6 | [2] |
U.S. GAAP adjustments | [3] | 818.4 | 964.5 | |
Premises and equipment-net, Goodwill, Intangible assets, and right-of-use assets related to operating leases included in Other assets | ¥ 2,539.7 | ¥ 2,666.1 | ||
[1] | “Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and equipment-net; Goodwill; Intangible assets; and right-of-use assets related to operating leases included in Other assets. The above table does not include other asset amounts because “Fixed assets” is the only balance sheet metric that management uses when evaluating and making decisions pertaining to the operating segments. “Others” in “Fixed assets” includes assets of headquarters that have not been allocated to each segment, “Fixed assets” pertaining to consolidated subsidiaries that are not subject to allocation, consolidating adjustments, and others. Certain “Fixed assets” expenses have been allocated to each segment using reasonable allocation criteria. | |||
[2] | Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates. | |||
[3] | The U.S. GAAP adjustments are primarily comprised of GAAP differences mainly from right-of-use assets related to operating leases not recognized under Japanese GAAP; internally developed software, which was impaired under Japanese GAAP; land, which was revalued under Japanese GAAP; and the consolidation of certain variable interest entities, which are not consolidated under Japanese GAAP. |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) - JPY (¥) ¥ in Billions | Jun. 25, 2020 | Sep. 30, 2020 |
Subsequent Events [Abstract] | ||
Stockholders equity stock consolidation | 1-for-10 share | |
Decrease in defined benefit obligations | ¥ 22 | |
Decrease in plan assets | ¥ 24 |