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MFG Mizuho Financial

Filed: 12 Nov 21, 6:32am

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2021

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

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

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

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

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

 

 

 


THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF MIZUHO FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-233354) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.


SIGNATURES

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

 

Date: November 12, 2021
Mizuho Financial Group, Inc.
By: 

/s/ Makoto Umemiya

Name: Makoto Umemiya
Title: Senior Executive Officer / Group CFO


For Immediate Release:

 

 

Consolidated Financial Statements for the Second Quarter of Fiscal 2021

(Six months ended September 30, 2021)

(Under Japanese GAAP)

       LOGO

 

Company Name:  Mizuho Financial Group, Inc. (“MHFG”)  November 12, 2021

 

Stock Code Number (Japan): 8411    
Stock Exchange Listings: Tokyo Stock Exchange (First Section), New York Stock Exchange  
URL: https://www.mizuhogroup.com  
Representative: Tatsufumi Sakai  

President & CEO

  
For Inquiry: Tomomichi Fujita  

General Manager of Accounting

 

Phone:

 +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):  November 29, 2021 

Trading Accounts:    

 Established
Commencement of Dividend Payment (scheduled):  December 7, 2021  
Supplementary Materials on Quarterly Results:  Attached  
IR Conference on Quarterly Results:  Scheduled  

Amounts less than one million yen are rounded down.

1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2021 (for the six months ended September 30, 2021)

(1) Consolidated Results of Operations

(%: Changes from the previous first half)

 

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

1H F2021

   1,579,249    0.1   399,340    49.2   385,657    78.9 

1H F2020

   1,576,761    (20.6  267,610    (32.5  215,523    (25.0

 

Note: 

Comprehensive Income:

1H F2021: ¥382,910 million, 1.7%; 1H F2020: ¥376,172 million, 97.5%

 

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

1H F2021

   152.12    152.12 

1H F2020

   84.99    84.98 

 

Note: MHFG conducted a share consolidation of common stock on the basis of one post-consolidation share per ten pre-consolidation shares effective as of October 1, 2020.
 The impact of the share consolidation is reflected in Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock.

(2) Consolidated Financial Conditions

 

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

1H F2021

   227,195,390    9,640,884    4.1 

Fiscal 2020

   225,586,211    9,362,207    4.1 

 

Reference:  

Own Capital:

As of September 30, 2021: ¥9,523,829 million; As of March 31, 2021: ¥9,256,275 million

Note: 

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

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

2. Cash Dividends for Shareholders of Common Stock

 

   Annual Cash Dividends per Share 
   First
Quarter-end
   Second
Quarter-end
   Third
Quarter-end
   Fiscal
Year-end
   Total 
   ¥   ¥   ¥   ¥   ¥ 

Fiscal 2020

   —      3.75    —      37.50    —   

Fiscal 2021

   —      40.00       

Fiscal 2021 (estimate)

       —      40.00    80.00 
Notes:  1.  Revision of the latest announced estimates for cash dividends for shareholders of common stock : Yes
  2.  

MHFG conducted a share consolidation of common stock on the basis of one post-consolidation share per ten pre-consolidation shares effective as of October 1, 2020.

The impact of the share consolidation is not reflected in Cash Dividends per Share of Common Stock for the end of the second quarter of Fiscal 2020. If the share consolidation were taken into consideration, it would be ¥37.50 per share.

In addition, MHFG left the value of total annual dividend blank (—) as it is inappropriate simply to total the value of the dividend at the end of the first half of Fiscal 2020 and the value of the dividend at the end of Fiscal 2020.

3. Consolidated Earnings Estimates for Fiscal 2021 (for the fiscal year ending March 31, 2022)

 

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

Fiscal 2021

                                                   530,000    12.5    209.03 

 

Notes:  1.  Revision of the latest announced earnings estimates for Fiscal 2021: Yes
    

Following the result from 1H, MHFG revised Consolidated Earnings Estimates for Fiscal 2021 (for the fiscal year ending March 31, 2022).

Profit Attributable to Owners of Parent: The latest announced estimates: ¥510,000 million, Revised estimates: ¥530,000 million, Changes from the original estimates: ¥20,000 million, 3.9%

  2.  The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares during 1H and the number of outstanding shares as of September 30, 2021 (which is used as a proxy for the average number of outstanding shares during the remainder of the relevant period).


Notes

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

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

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

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

iii. Changes in accounting estimates: No

iv. Restatements: No

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

(3) Issued Shares of Common Stock

 

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

 As of September 30, 2021 2,539,249,894 shares As of March 31, 2021  2,539,249,894 shares

ii.  Period-end treasury stock:

 As of September 30, 2021 4,599,386 shares As of March 31, 2021  3,889,782 shares

iii. Average outstanding shares:

 1st Half Fiscal 2021 2,535,113,784 shares 1st Half Fiscal 2020  2,535,837,918 shares

 

Note: MHFG conducted a share consolidation of common stock on the basis of one post-consolidation share per ten pre-consolidation shares effective as of October 1, 2020. The impact of the share consolidation is reflected in the number of Average outstanding shares.

This immediate release is outside the scope of semi-annual audit by certified public accountants or audit firms.

 

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

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

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

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

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

MHFG is a specified business company under “Cabinet Office Ordinance on Disclosure of Corporate Information, etc.” Article 17-15 clause 2 and prepares the interim consolidated financial statements in the second quarter.

 


Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1. Matters Related to Summary Information (Notes)  p.1-2

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

  p.1-2
2. Interim Consolidated Financial Statements and Others  p.1-3

(1) Consolidated Balance Sheets

  p.1-3

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

  p.1-5

(3) Consolidated Statements of Changes in Net Assets

  p.1-7

(4) Note for Assumption of Going Concern

  p.1-8

øSELECTED FINANCIAL INFORMATION For the Second Quarter (First Half) of Fiscal 2021

  

Note to XBRL

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

An MHFG IR conference for institutional investors and analysts is scheduled for Wednesday, November 17, 2021. The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group website immediately after the conference.

 

1-1


Mizuho Financial Group, Inc.

 

1. Matters Related to Summary Information (Notes)

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

(Changes in Accounting Policies)

(Accounting Standard for Revenue Recognition and Others)

MHFG has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No.29, March 31, 2020) and others from the beginning of the interim period ended September 30, 2021.

In accordance with “Accounting Standard for Revenue Recognition”, MHFG recognizes revenue at the time of the transfer of promised goods or services to the customer in an amount that reflects the consideration to which MHFG expects to be entitled in exchange for those goods or services.

In accordance with transitional treatment set out in the proviso of Article 84 of “Accounting Standard for Revenue Recognition”, the cumulative effects arising from the retroactive application of these new accounting policies to all the previous fiscal years were reflected in Retained Earnings as of April 1, 2021, and the new accounting policies are applied from the beginning of the fiscal year.

As a result of the cumulative effects arising from the retroactive application of these new accounting policies, Retained Earnings of the interim consolidated statement of changes in net assets decreased by ¥724 million as of April 1, 2021. The impact on the interim consolidated balance sheet, the interim consolidated statement of income and per share information for the interim period ended September 30, 2021 is immaterial.

 

1-2


Mizuho Financial Group, Inc.

 

2. Interim Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

 

                                                                      
   Millions of yen 
   As of
March 31, 2021
  As of
September 30,  2021
 

Assets

   

Cash and Due from Banks

  ¥47,981,981  ¥47,075,429 

Call Loans and Bills Purchased

   589,776   330,455 

Receivables under Resale Agreements

   11,623,654   16,932,692 

Guarantee Deposits Paid under Securities Borrowing Transactions

   2,707,711   2,412,626 

Other Debt Purchased

   3,208,004   3,137,520 

Trading Assets

   12,589,294   12,610,648 

Money Held in Trust

   582,368   637,862 

Securities

   43,697,262   43,725,034 

Loans and Bills Discounted

   83,704,675   82,198,528 

Foreign Exchange Assets

   2,084,756   2,228,808 

Derivatives other than for Trading Assets

   1,719,349   1,407,561 

Other Assets

   6,174,020   5,296,681 

Tangible Fixed Assets

   1,135,449   1,118,837 

Intangible Fixed Assets

   620,224   603,477 

Net Defined Benefit Asset

   1,109,107   959,987 

Deferred Tax Assets

   31,402   27,842 

Customers’ Liabilities for Acceptances and Guarantees

   6,602,744   7,085,422 

Reserves for Possible Losses on Loans

   (575,572  (594,023

Reserve for Possible Losses on Investments

   (0  (1
  

 

 

  

 

 

 

Total Assets

  ¥225,586,211  ¥227,195,390 
  

 

 

  

 

 

 

 

1-3


Mizuho Financial Group, Inc.

 

                                                                      
   Millions of yen 
   As of
March 31, 2021
  As of
September 30, 2021
 

Liabilities

   

Deposits

  ¥133,312,406  ¥129,291,662 

Negotiable Certificates of Deposit

   17,192,572   19,215,068 

Call Money and Bills Sold

   1,312,790   1,431,315 

Payables under Repurchase Agreements

   18,607,255   22,277,769 

Guarantee Deposits Received under Securities Lending Transactions

   958,148   1,229,187 

Commercial Paper

   2,105,067   1,969,424 

Trading Liabilities

   8,115,377   6,464,003 

Borrowed Money

   7,441,822   7,495,869 

Foreign Exchange Liabilities

   532,042   500,486 

Short-term Bonds

   456,045   543,561 

Bonds and Notes

   10,321,672   10,513,503 

Due to Trust Accounts

   1,160,608   1,182,263 

Derivatives other than for Trading Liabilities

   1,739,671   1,480,764 

Other Liabilities

   5,862,013   6,469,900 

Reserve for Bonus Payments

   104,131   58,833 

Reserve for Variable Compensation

   2,935   1,014 

Net Defined Benefit Liability

   71,049   71,775 

Reserve for Director and Corporate Auditor Retirement Benefits

   683   488 

Reserve for Possible Losses on Sales of Loans

   1,074   181 

Reserve for Contingencies

   6,762   8,562 

Reserve for Reimbursement of Deposits

   22,099   19,901 

Reserve for Reimbursement of Debentures

   14,419   12,157 

Reserves under Special Laws

   3,135   3,127 

Deferred Tax Liabilities

   215,557   166,823 

Deferred Tax Liabilities for Revaluation Reserve for Land

   61,915   61,436 

Acceptances and Guarantees

   6,602,744   7,085,422 
  

 

 

  

 

 

 

Total Liabilities

  ¥216,224,003  ¥217,554,505 
  

 

 

  

 

 

 

Net Assets

   

Common Stock

  ¥2,256,767  ¥2,256,767 

Capital Surplus

   1,135,940   1,125,324 

Retained Earnings

   4,421,655   4,712,422 

Treasury Stock

   (7,124  (8,164
  

 

 

  

 

 

 

Total Shareholders’ Equity

   7,807,239   8,086,349 
  

 

 

  

 

 

 

Net Unrealized Gains (Losses) on Other Securities

   1,132,460   1,154,756 

Deferred Gains or Losses on Hedges

   31,618   (743

Revaluation Reserve for Land

   136,384   135,297 

Foreign Currency Translation Adjustments

   (139,514  (80,968

Remeasurements of Defined Benefit Plans

   288,088   229,137 
  

 

 

  

 

 

 

Total Accumulated Other Comprehensive Income

   1,449,035   1,437,480 
  

 

 

  

 

 

 

Stock Acquisition Rights

   134   95 

Non-Controlling Interests

   105,797   116,959 
  

 

 

  

 

 

 

Total Net Assets

   9,362,207   9,640,884 
  

 

 

  

 

 

 

Total Liabilities and Net Assets

  ¥225,586,211  ¥227,195,390 
  

 

 

  

 

 

 

 

1-4


Mizuho Financial Group, Inc.

 

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

Consolidated Statements of Income

 

                                                                      
   Millions of yen 
   For the six  months
ended
September 30, 2020
  For the six months
ended
September 30, 2021
 

Ordinary Income

  ¥1,576,761  ¥1,579,249 

Interest Income

   693,651   615,622 

Interest on Loans and Bills Discounted

   490,811   422,172 

Interest and Dividends on Securities

   122,600   119,583 

Fiduciary Income

   27,143   29,728 

Fee and Commission Income

   397,087   416,769 

Trading Income

   238,219   226,614 

Other Operating Income

   156,922   142,799 

Other Ordinary Income

   63,736   147,714 

Ordinary Expenses

   1,309,150   1,179,909 

Interest Expenses

   253,522   141,461 

Interest on Deposits

   91,376   28,002 

Fee and Commission Expenses

   77,475   86,326 

Trading Expenses

   1,455   35,301 

Other Operating Expenses

   68,248   59,622 

General and Administrative Expenses

   681,287   667,594 

Other Ordinary Expenses

   227,161   189,602 
  

 

 

  

 

 

 

Ordinary Profits

   267,610   399,340 
  

 

 

  

 

 

 

Extraordinary Gains

   72,735   51,553 

Extraordinary Losses

   6,955   4,271 
  

 

 

  

 

 

 

Income before Income Taxes

   333,391   446,622 
  

 

 

  

 

 

 

Income Taxes:

   

Current

   74,186   65,604 

Deferred

   41,813   (10,941
  

 

 

  

 

 

 

Total Income Taxes

   116,000   54,663 
  

 

 

  

 

 

 

Profit

   217,390   391,958 
  

 

 

  

 

 

 

Profit Attributable to Non-controlling Interests

   1,867   6,301 
  

 

 

  

 

 

 

Profit Attributable to Owners of Parent

  ¥215,523   ¥385,657 
  

 

 

  

 

 

 

 

1-5


Mizuho Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

                                                                      
   Millions of yen 
   For the six months
ended
September 30, 2020
  For the six months
ended
September 30, 2021
 

Profit

  ¥217,390  ¥391,958 

Other Comprehensive Income

   158,782   (9,048

Net Unrealized Gains (Losses) on Other Securities

   212,348   23,805 

Deferred Gains or Losses on Hedges

   (5,843  (32,261

Foreign Currency Translation Adjustments

   (36,529  50,061 

Remeasurements of Defined Benefit Plans

   (9,851  (58,390

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

   (1,341  7,736 
  

 

 

  

 

 

 

Comprehensive Income

   376,172   382,910 
  

 

 

  

 

 

 

(Breakdown)

   

Comprehensive Income Attributable to Owners of Parent

   377,963   375,995 

Comprehensive Income Attributable to Non-controlling Interests

   (1,791  6,914 

 

1-6


Mizuho Financial Group, Inc.

 

(3) Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2020

 

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

Balance as of the beginning of the period

   2,256,767    1,136,467   4,174,190   (6,414  7,561,010 

Cumulative Effects of Changes in Accounting Policies

      (32,639   (32,639

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

   2,256,767    1,136,467   4,141,550   (6,414  7,528,370 

Changes during the period

       

Cash Dividends

      (95,208   (95,208

Profit Attributable to Owners of Parent

      215,523    215,523 

Repurchase of Treasury Stock

       (1,995  (1,995

Disposition of Treasury Stock

     (80   1,385   1,305 

Transfer from Revaluation Reserve for Land

      (1,178   (1,178

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

     (519    (519

Transfer from Retained Earnings to Capital Surplus

     80   (80   —   

Net Changes in Items other than Shareholders’ Equity

       
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

Total Changes during the period

   —      (519  119,056   (610  117,926 
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

Balance as of the end of the period

   2,256,767    1,135,948   4,260,606   (7,025  7,646,297 
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

 

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

Balance as of the beginning of the period

  823,085   72,081   136,655   (133,178  94,317   992,960   213   109,662   8,663,847 

Cumulative Effects of Changes in Accounting Policies

       —       (32,639

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

  823,085   72,081   136,655   (133,178  94,317   992,960   213   109,662   8,631,208 

Changes during the period

         

Cash Dividends

          (95,208

Profit Attributable to Owners of Parent

          215,523 

Repurchase of Treasury Stock

          (1,995

Disposition of Treasury Stock

          1,305 

Transfer from Revaluation Reserve for Land

          (1,178

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

          (519

Transfer from Retained Earnings to Capital Surplus

          —   

Net Changes in Items other than Shareholders’ Equity

  215,696   (5,819  1,178   (37,594  (9,842  163,619   (79  (7,469  156,070 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total Changes during the period

  215,696   (5,819  1,178   (37,594  (9,842  163,619   (79  (7,469  273,997 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Balance as of the end of the period

  1,038,781   66,262   137,834   (170,773  84,475   1,156,580   134   102,192   8,905,205 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

 

1-7


Mizuho Financial Group, Inc.

 

For the six months ended September 30, 2021

 

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

Balance as of the beginning of the period

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

Cumulative Effects of Changes in Accounting Policies

      (724   (724

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

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

Changes during the period

       

Cash Dividends

      (95,201   (95,201

Profit Attributable to Owners of Parent

      385,657    385,657 

Repurchase of Treasury Stock

       (2,646  (2,646

Disposition of Treasury Stock

     (51   1,606   1,554 

Transfer from Revaluation Reserve for Land

      1,086    1,086 

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

     (10,616    (10,616

Transfer from Retained Earnings to Capital Surplus

     51   (51   —   

Net Changes in Items other than Shareholders’ Equity

       
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

Total Changes during the period

   —      (10,616  291,490   (1,040  279,833 
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

Balance as of the end of the period

   2,256,767    1,125,324   4,712,422   (8,164  8,086,349 
  

 

 

   

 

 

  

 

 

  

 

 

  

 

 

 

 

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

Balance as of the beginning of the period

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

Cumulative Effects of Changes in Accounting Policies

       —       (724

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

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

Changes during the period

         

Cash Dividends

          (95,201

Profit Attributable to Owners of Parent

          385,657 

Repurchase of Treasury Stock

          (2,646

Disposition of Treasury Stock

          1,554 

Transfer from Revaluation Reserve for Land

          1,086 

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

          (10,616

Transfer from Retained Earnings to Capital Surplus

          —   

Net Changes in Items other than Shareholders’ Equity

  22,295   (32,361  (1,086  58,546   (58,950  (11,555  (39  11,161   (433
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total Changes during the period

  22,295   (32,361  (1,086  58,546   (58,950  (11,555  (39  11,161   279,400 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Balance as of the end of the period

  1,154,756   (743  135,297   (80,968  229,137   1,437,480   95   116,959   9,640,884 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(4) Note for Assumption of Going Concern

There is no applicable information.

 

1-8


SELECTED FINANCIAL INFORMATION

For the Second Quarter (First Half) of Fiscal 2021

(Six months ended September 30, 2021)

(Under Japanese GAAP)

 

 

LOGO

Mizuho Financial Group, Inc.


C O N T E N T S

 

 

Notes:

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

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

 

 

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2021

  See above Notes   Page 

1. Income Analysis

   CON    NON    2-1   

2. Interest Margins (Domestic Operations)

   NON      2-5   

3. Use and Source of Funds

   NON      2-6   

4. Net Gains/Losses on Securities

   CON    NON    2-8   

5. Unrealized Gains/Losses on Securities

   CON    NON    2-10 

6. Projected Redemption Amounts for Securities

   NON      2-12 

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

   NON      2-13 

8. Employee Retirement Benefits

   NON    CON    2-14 

9. Capital Ratio

   CON    NON    2-17 

II. REVIEW OF CREDITS

  See above Notes   Page 

1. Status of Non-Accrual, Past Due & Restructured Loans

   CON    NON    2-18 

2. Status of Reserves for Possible Losses on Loans

   CON    NON    2-20 

3. Reserve Ratios for Non-Accrual, Past Due & Restructured Loans

   CON    NON    2-21 

4. Status of Non Performing Loans based on the Financial Reconstruction Act(“FRA”)

   CON    NON    2-22 

5. Coverage on Non Performing Loans based on the FRA

   NON      2-24 

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

   NON      2-27 

7. Results of Removal of NPLs from the Balance Sheet

   NON      2-28 

8. Status of Loans by Industry

      

(1) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Industry

   NON      2-29 

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

   NON      2-31 

9. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises

      

(“SMEs”) and Individual Customers

      

(1) Balance of Housing and Consumer Loans

   NON      2-32 

(2) Loans to SMEs and Individual Customers

   NON      2-32 

10. Status of Loans by Region

   NON      2-33 

III. DEFERRED TAXES

  See above Notes   Page 

1. Estimation for Calculating Deferred Tax Assets

   NON      2-34 

IV. OTHERS

  See above Notes   Page 

1. Breakdown of Deposits (Domestic Offices)

   NON      2-36 

2. Number of Directors and Employees

       2-37 

3. Number of Offices

       2-37 

4. Earnings Plan for Fiscal 2021

   CON    NON    2-38 


Attachments

        Page  

Mizuho Bank, Ltd.

      

Comparison of Non-Consolidated Balance Sheets (selected items)

       2-39 

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

       2-40 

Mizuho Trust & Banking Co., Ltd.

      

Comparison of Non-Consolidated Balance Sheets (selected items)

       2-41 

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

       2-42 

Statement of Trust Assets and Liabilities

       2-43 

Comparison of Balances of Principal Items

       2-44 

Mizuho Securities Co., Ltd.

      

Comparison of Non-Consolidated Balance Sheets (selected items)

       2-45 

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

       2-46 

 

 

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

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

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

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

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

MHFG is a specified business company under “Cabinet Office Ordinance on Disclosure of Corporate Information, etc.” Article 17-15 clause 2 and prepares the interim consolidated financial statements in the second quarter.

 


Mizuho Financial Group, Inc.

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2021

1. Income Analysis

Consolidated

 

       (Millions of yen) 
       First Half of Fiscal 2021  First Half of Fiscal 2020 
          Change    

Consolidated Gross Profits

   1    1,108,822   (3,500  1,112,323 

Net Interest Income

   2    474,160   34,031   440,129 

Fiduciary Income

   3    29,728   2,584   27,143 

Credit Costs for Trust Accounts

   4    —     —     —   

Net Fee and Commission Income

   5    330,443   10,831   319,611 

Net Trading Income

   6    191,312   (45,451  236,764 

Net Other Operating Income

   7    83,177   (5,496  88,673 

General and Administrative Expenses

   8    (667,594  13,693   (681,287

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

   9    (59,856  24,921   (84,777

Losses on Write-offs of Loans

   10    (7,023  420   (7,444

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

   11    10,225   6,669   3,555 

Net Gains (Losses) related to Stocks

   12    14,931   84,422   (69,490

Equity in Income from Investments in Affiliates

   13    16,519   4,959   11,559 

Other

   14    (23,707  564   (24,271
    

 

 

  

 

 

  

 

 

 

Ordinary Profits

   15    399,340   131,729   267,610 
    

 

 

  

 

 

  

 

 

 

Net Extraordinary Gains (Losses)

   16    47,281   (18,498  65,780 

Income before Income Taxes

   17    446,622   113,231   333,391 

Income Taxes - Current

   18    (65,604  8,581   (74,186

- Deferred

   19    10,941   52,755   (41,813

Profit

   20    391,958   174,568   217,390 

Profit Attributable to Non-controlling Interests

   21    (6,301  (4,434  (1,867
    

 

 

  

 

 

  

 

 

 

Profit Attributable to Owners of Parent

   22    385,657   170,133   215,523 
    

 

 

  

 

 

  

 

 

 

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

   23    (49,631)    31,590   (81,222

 

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

 

Reference:

      

Consolidated Net Business Profits

   24    438,574   126   438,448 

 

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

 

Number of consolidated subsidiaries

   25    160   7   153 

Number of affiliates under the equity method

   26    29   3   26 

 

2-1


Mizuho Financial Group, Inc.

 

Aggregate Figures for the 2 Banks

Non-Consolidated

 

       (Millions of yen) 
       First Half of Fiscal 2021   First Half of Fiscal 2020 
       MHBK  MHTB  Aggregate
Figures
   Change     

Gross Profits

   1    666,600   57,772   724,373    (30,547   754,920 

Domestic Gross Profits

   2    337,771   57,677   395,449    9,459    385,989 

Net Interest Income

   3    225,666   9,105   234,772    26,305    208,466 

Fiduciary Income

   4     30,058   30,058    2,781    27,277 

Trust Fees for Jointly Operated Designated Money Trust

   5     1,975   1,975    (48   2,024 

Credit Costs for Trust Accounts (1)

   6     —     —      —      —   

Net Fee and Commission Income

   7    112,122   18,954   131,076    (11,647   142,724 

Net Trading Income

   8    (7,790  (629  (8,419   (19,559   11,139 

Net Other Operating Income

   9    7,773   188   7,961    11,579    (3,618

International Gross Profits

   10    328,829   94   328,924    (40,006   368,930 

Net Interest Income

   11    190,025   274   190,299    7,513    182,785 

Net Fee and Commission Income

   12    63,630   (172  63,457    (8,020   71,477 

Net Trading Income

   13    47,785   (11  47,774    (14,841   62,615 

Net Other Operating Income

   14    27,388   4   27,392    (24,659   52,051 

General and Administrative Expenses (excluding Non-Recurring Losses)

   15    (382,729  (40,130  (422,859   17,401    (440,260

Expense Ratio

   16    57.4  69.4%    58.3   0.0%     58.3% 

Personnel Expenses

   17    (149,030  (18,813  (167,844   5,926    (173,771

Non-Personnel Expenses

   18    (211,158  (19,447  (230,605   10,220    (240,825

Premium for Deposit Insurance

   19    (16,227  (559  (16,787   (67   (16,720

Miscellaneous Taxes

   20    (22,540  (1,869  (24,409   1,254    (25,664
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

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

   21    283,871   17,642   301,513    (13,145   314,659 

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

   22    260,591   17,631   278,223    8,047    270,176 

Excluding Net Gains (Losses) from redemption of Investment Trusts

   23    253,835   17,631   271,467    3,479    267,988 
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

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

   24    (68,140  (809  (68,950   (8,083   (60,866
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

Net Business Profits

   25    215,731   16,832   232,563    (21,228   253,792 

Net Gains (Losses) related to Bonds

   26    23,279   10   23,290    (21,193   44,483 
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

Net Non-Recurring Gains (Losses)

   27    29,129   2,116   31,246    136,692    (105,446

Net Gains (Losses) related to Stocks

   28    10,360   400   10,761    86,078    (75,317

Expenses related to Portfolio Problems

   29    10,517   (88  10,429    32,411    (21,981

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

   30    9,202   0   9,202    5,833    3,368 

Other

   31    (951  1,804   853    12,368    (11,515
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

Ordinary Profits

   32    244,860   18,949   263,810    115,463    148,346 
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

Net Extraordinary Gains (Losses)

   33    40,249   7,331   47,581    (10,279   57,860 

Net Gains (Losses) on Disposition of Fixed Assets

   34    (821  (113  (934   (1,788   853 

Losses on Impairment of Fixed Assets

   35    (2,539  (38  (2,577   (1,816   (761

Gains on Cancellation of Employee Retirement Benefit Trust

   36    43,610   7,483   51,093    43,198    7,895 

Accumulation (Amortization) of Unrecognized Prior Service Cost

   37    —     —     —      (52,391   52,391 

Losses on Transfer to Defined Contribution Pension Plan

   38    —     —     —      2,519    (2,519

Income before Income Taxes

   39    285,110   26,281   311,391    105,184    206,206 

Income Taxes - Current

   40    (90,355  (4,559  (94,914   (46,228   (48,685

- Deferred

   41    (25,332  (3,255  (28,587   3,506    (32,094
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

Net Income

   42    169,422   18,466   187,888    62,462    125,426 
    

 

 

  

 

 

  

 

 

   

 

 

   

 

 

 

 

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

    

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

    

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

 

Credit-related Costs

   43    (48,420  (897  (49,317   30,161    (79,479

 

Credit-related Costs [43] =  Expenses related to Portfolio Problems [29] + Reversal of (Provision for) General Reserve for Losses on Loans [24] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [30] + Credit Costs for Trust Accounts [6]

 

Reference: Breakdown of Credit-related Costs

          

Credit Costs for Trust Accounts

   44     —     —      —      —   

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

   45    (68,140  (809  (68,950   (8,302   (60,647

Losses on Write-offs of Loans

   46    2,990   (73  2,916    6,874    (3,958

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

   47    16,549   (14  16,534    31,946    (15,411

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

   48    106   —     106    106    —   

Reversal of (Provision for) Reserve for Contingencies

   49    306   —     306    (814   1,120 

Other (including Losses on Sales of Loans)

   50    (232  —     (232   350    (583

Total

   51    (48,420  (897  (49,317   30,161    (79,479

 

2-2


Mizuho Financial Group, Inc.

 

Mizuho Bank

Non-Consolidated

 

         (Millions of yen) 
         First Half of Fiscal 2021  First Half of Fiscal 2020 
            Change    

Gross Profits

    1   666,600   (28,393  694,993 

Domestic Gross Profits

    2   337,771   3,760   334,010 

Net Interest Income

    3   225,666   27,353   198,312 

Net Fee and Commission Income

    4   112,122   (17,978  130,100 

Net Trading Income

    5   (7,790  (17,757  9,966 

Net Other Operating Income

    6   7,773   12,142   (4,369

International Gross Profits

    7   328,829   (32,153  360,983 

Net Interest Income

    8   190,025   10,553   179,471 

Net Fee and Commission Income

    9   63,630   (8,199  71,830 

Net Trading Income

    10   47,785   (15,514  63,299 

Net Other Operating Income

    11   27,388   (18,993  46,381 

General and Administrative Expenses (excluding Non-Recurring Losses)

    12   (382,729  16,433   (399,162

Expense Ratio

    13   57.4  (0.0%)    57.4%  

Personnel Expenses

    14   (149,030  5,150   (154,180

Non-Personnel Expenses

    15   (211,158  9,818   (220,976

Premium for Deposit Insurance

    16   (16,227  (144  (16,083

Miscellaneous Taxes

    17   (22,540  1,465   (24,005
      

 

 

  

 

 

  

 

 

 

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

    18   283,871   (11,959  295,831 

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

    19   260,591   2,841   257,750 

Excluding Net Gains (Losses) from redemption of Investment Trusts

    20   253,835   (2,229  256,064 
      

 

 

  

 

 

  

 

 

 

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

    21   (68,140  (7,273  (60,866
      

 

 

  

 

 

  

 

 

 

Net Business Profits

    22   215,731   (19,233  234,964 

Net Gains (Losses) related to Bonds

    23   23,279   (14,800  38,080 
      

 

 

  

 

 

  

 

 

 

Net Non-Recurring Gains (Losses)

    24   29,129   131,567   (102,437

Net Gains (Losses) related to Stocks

    25   10,360   82,745   (72,385

Expenses related to Portfolio Problems

    26   10,517   32,499   (21,981

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

    27   9,202   6,081   3,121 

Other

    28   (951  10,240   (11,191
      

 

 

  

 

 

  

 

 

 

Ordinary Profits

    29   244,860   112,333   132,527 
      

 

 

  

 

 

  

 

 

 

Net Extraordinary Gains (Losses)

    30   40,249   (11,749  51,998 

Net Gains (Losses) on Disposition of Fixed Assets

    31   (821  (2,050  1,229 

Losses on Impairment of Fixed Assets

    32   (2,539  (1,778  (761

Gains on Cancellation of Employee Retirement Benefit Trust

    33   43,610   35,715   7,895 

Accumulation (Amortization) of Unrecognized Prior Service Cost

    34   —     (45,822  45,822 

Losses on Transfer to Defined Contribution Pension Plan

    35   —     2,187   (2,187

Income before Income Taxes

    36   285,110   100,584   184,525 

Income Taxes - Current

    37   (90,355  (43,850  (46,504

- Deferred

    38   (25,332  2,965   (28,298
      

 

 

  

 

 

  

 

 

 

Net Income

    39   169,422   59,699   109,722 
      

 

 

  

 

 

  

 

 

 

 

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

    

Credit-related Costs

    40   (48,420  31,306   (79,726

 

Credit-related Costs [40]   =  Expenses related to Portfolio Problems [26] + Reversal of (Provision for) General Reserve for Losses on Loans [21] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [27]

 

Reference: Breakdown of Credit-related Costs

        

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

    41   (68,140  (7,273  (60,866

Losses on Write-offs of Loans

    42   2,990   6,948   (3,958

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

    43             16,549    31,988   (15,438

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

    44   106                  106    —   

Reversal of (Provision for) Reserve for Contingencies

    45   306   (814              1,120  

Other (including Losses on Sales of Loans)

    46   (232  350   (583

Total

    47   (48,420  31,306   (79,726

 

2-3


Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking

Non-Consolidated

 

         (Millions of yen) 
         First Half of Fiscal 2021  First Half of Fiscal 2020 
            Change    

Gross Profits

    1   57,772   (2,154  59,926 

Domestic Gross Profits

    2   57,677   5,699   51,978 

Net Interest Income

    3   9,105   (1,048  10,153 

Fiduciary Income

    4   30,058   2,781   27,277 

Trust Fees for Jointly Operated Designated Money Trust

    5   1,975   (48  2,024 

Credit Costs for Trust Accounts (1)

    6   —     —     —   

Net Fee and Commission Income

    7   18,954   6,330   12,623 

Net Trading Income

    8   (629  (1,801  1,172 

Net Other Operating Income

    9   188   (563  751 

International Gross Profits

    10   94   (7,853  7,947 

Net Interest Income

    11   274   (3,039  3,313 

Net Fee and Commission Income

    12   (172  179   (352

Net Trading Income

    13   (11  672   (683

Net Other Operating Income

    14   4   (5,665  5,670 

General and Administrative Expenses (excluding Non-Recurring Losses)

    15   (40,130  967   (41,098

Expense Ratio

    16   69.4  0.8%     68.5%  

Personnel Expenses

    17   (18,813  776   (19,590

Non-Personnel Expenses

    18   (19,447  401   (19,848

Premium for Deposit Insurance

    19   (559  76   (636

Miscellaneous Taxes

    20   (1,869  (210  (1,659
      

 

 

  

 

 

  

 

 

 

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

    21   17,642   (1,186  18,828 

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

    22   17,631   5,206   12,425 

Excluding Net Gains (Losses) from redemption of Investment Trusts

    23   17,631   5,708   11,923 
      

 

 

  

 

 

  

 

 

 

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

    24   (809  (809  —   
      

 

 

  

 

 

  

 

 

 

Net Business Profits

    25   16,832   (1,995  18,828 

Net Gains (Losses) related to Bonds

    26   10   (6,392  6,402 
      

 

 

  

 

 

  

 

 

 

Net Non-Recurring Gains (Losses)

    27   2,116   5,125   (3,009

Net Gains (Losses) related to Stocks

    28   400   3,332   (2,932

Expenses related to Portfolio Problems

    29   (88  (88  (0

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

    30   0   (247  247 

Other

    31   1,804   2,128   (323
      

 

 

  

 

 

  

 

 

 

Ordinary Profits

    32   18,949   3,129   15,819 
      

 

 

  

 

 

  

 

 

 

Net Extraordinary Gains (Losses)

    33   7,331   1,469   5,862 

Net Gains (Losses) on Disposition of Fixed Assets

    34   (113  262   (375

Losses on Impairment of Fixed Assets

    35   (38  (38  —   

Gains on Cancellation of Employee Retirement Benefit Trust

    36   7,483   7,483   —   

Accumulation (Amortization) of Unrecognized Prior Service Cost

    37   —     (6,569  6,569 

Losses on Transfer to Defined Contribution Pension Plan

    38   —     331   (331

Income before Income Taxes

    39   26,281   4,599   21,681 

Income Taxes - Current

    40   (4,559  (2,378  (2,181

- Deferred

    41   (3,255  540   (3,796
      

 

 

  

 

 

  

 

 

 

Net Income

    42   18,466   2,762   15,704 
      

 

 

  

 

 

  

 

 

 

 

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

    

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

    

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

 

Credit-related Costs

    43                 (897)              (1,144                  247  

 

Credit-related Costs [43]  =  Expenses related to Portfolio Problems [29] + Reversal of (Provision for) General Reserve for Losses on Loans [24] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [30] + Credit Costs for Trust Accounts [6]

 

Reference: Breakdown of Credit-related Costs

        

Credit Costs for Trust Accounts

    44   —     —     —   

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

    45   (809  (1,028  219 

Losses on Write-offs of Loans

    46   (73  (73  0 

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

    47   (14  (42  27 

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

    48   —     —     —   

Reversal of (Provision for) Reserve for Contingencies

    49   —     —     —   

Other (including Losses on Sales of Loans)

    50   —     —     —   

Total

    51   (897  (1,144  247 

 

2-4


Mizuho Financial Group, Inc.

 

2. Interest Margins (Domestic Operations)

Non-Consolidated

 

        (%) 
        First Half of Fiscal 2021  First Half of Fiscal 2020 
Mizuho Bank          Change    

Return on Interest-Earning Assets

   1   0.39                   0.01         0.37     

Return on Loans and Bills Discounted (1)

   2   0.74   0.03   0.71 

Return on Securities

   3   0.30   0.08   0.21 

Cost of Funding (including Expenses)

   4   0.51   (0.05  0.56 

Cost of Deposits (including Expenses)

   5   0.52   (0.03  0.56 

Cost of Deposits (2)

   6   0.00   (0.00  0.00 

Cost of Other External Liabilities

   7   0.30   (0.22  0.52 
     

 

 

  

 

 

  

 

 

 

Net Interest Margin

 (1)-(4)  8   (0.12  0.06   (0.18

Loan and Deposit Rate Margin (including Expenses)

 (2)-(5)  9   0.22   0.07   0.15 

Loan and Deposit Rate Margin

 (2)-(6)  10   0.74   0.03   0.71 
     

 

 

  

 

 

  

 

 

 

 

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

    

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

    

Reference: After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

   11   0.76   0.02   0.73 

Loan and Deposit Rate Margin (including Expenses)

 (11)-(5)  12   0.23   0.06   0.17 

Loan and Deposit Rate Margin

 (11)-(6)  13   0.76   0.02   0.73 
        (%) 
        First Half of Fiscal 2021  First Half of Fiscal 2020 
Mizuho Trust & Banking          Change    

Return on Interest-Earning Assets

   14   0.47   0.01   0.45 

Return on Loans and Bills Discounted (1)

   15   0.59   0.01   0.57 

Return on Securities

   16   1.74   0.62   1.12 

Cost of Funding

   17   0.13   0.02   0.10 

Cost of Deposits (2)

   18   0.01   (0.00  0.01 
     

 

 

  

 

 

  

 

 

 

Net Interest Margin

 (14)-(17)  19   0.34   (0.00  0.35 

Loan and Deposit Rate Margin

 (15)-(18)  20   0.58   0.01   0.56 
     

 

 

  

 

 

  

 

 

 

 

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

    

(2)   Deposits include NCDs.

    

Reference: After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

   21   0.60   (0.00  0.60 

Loan and Deposit Rate Margin

 (21)-(18)  22   0.59   (0.00  0.59 
                   
Reference       (%) 
        First Half of Fiscal 2021  First Half of Fiscal 2020 
Aggregate Figures for the 2 Banks     Change    

Return on Loans and Bills Discounted (1)

   23   0.73   0.03   0.70 

Cost of Deposits (2)

   24   0.00   (0.00  0.00 
     

 

 

  

 

 

  

 

 

 

Loan and Deposit Rate Margin

 (23)-(24)  25                 0.73              0.03                  0.70  
     

 

 

  

 

 

  

 

 

 

 

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

    

(2)   Deposits include NCDs.

    

Reference: After excluding loans to the Japanese government and others

 

Return on Loans and Bills Discounted

   26   0.75   0.02   0.73 

Loan and Deposit Rate Margin

 (26)-(24)  27   0.75   0.02   0.72 

 

2-5


Mizuho Financial Group, Inc.

 

3. Use and Source of Funds

Non-Consolidated

Mizuho Bank

 

   (Millions of yen, %) 
   First Half of Fiscal 2021   First Half of Fiscal 2020 
           Change         
   Average
Balance
   Rate   Average Balance  Rate   Average Balance   Rate 

Total

           

Use of Funds

   184,666,842    0.57    7,415,632   (0.09   177,251,209    0.66 

Loans and Bills Discounted

   80,865,008    0.91    (3,891,405  (0.09   84,756,413    1.01 

Securities

   45,009,933    0.49    8,018,814   (0.11   36,991,118    0.60 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   183,824,544    0.12    7,941,608   (0.12   175,882,935    0.24 

Deposits

   128,046,394    0.02    (3,738,599  (0.09   131,784,993    0.11 

NCDs

   19,877,406    0.05    6,329,745   (0.19   13,547,661    0.24 
Domestic Operations           

Use of Funds

   127,843,280    0.39    9,541,078   0.01    118,302,201    0.37 

Loans and Bills Discounted

   52,802,381    0.73    (1,003,909  0.03    53,806,290    0.70 

Securities

   29,583,431    0.30    7,368,742   0.08    22,214,688    0.21 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   126,395,809    0.03    9,308,343   (0.00   117,087,466    0.04 

Deposits

   100,679,698    0.00    (751,478  (0.00   101,431,176    0.00 

NCDs

   13,728,174    0.00    5,827,518   (0.00   7,900,656    0.00 
International Operations           

Use of Funds

   59,514,244    0.94    (615,573  (0.28   60,129,817    1.23 

Loans and Bills Discounted

   28,062,627    1.26    (2,887,495  (0.29   30,950,123    1.55 

Securities

   15,426,502    0.86    650,072   (0.32   14,776,429    1.18 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   60,119,416    0.30    143,137   (0.33   59,976,279    0.63 

Deposits

   27,366,695    0.10    (2,987,121  (0.40   30,353,817    0.50 

NCDs

   6,149,232    0.15    502,226   (0.43   5,647,005    0.59 

 

2-6


Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking (Banking Account)

 

   (Millions of yen, %) 
   First Half of Fiscal 2021   First Half of Fiscal 2020 
           Change         
   Average
Balance
   Rate   Average Balance  Rate   Average Balance   Rate 

Total

           

Use of Funds

       5,304,757    0.48    (994,057  (0.09       6,298,815    0.57 

Loans and Bills Discounted

   3,268,511    0.60    (235,864  (0.02   3,504,375    0.62 

Securities

   253,726    1.69    (622,218  0.29    875,944    1.40 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   5,377,237    0.13    (1,016,785  (0.01   6,394,023    0.14 

Deposits

   2,880,365    0.01    (235,353  (0.00   3,115,718    0.01 

NCDs

   645,954    0.00           82,902   (0.00   563,051    0.00 
Domestic Operations           

Use of Funds

   5,264,259    0.47    (470,432  0.01    5,734,692    0.45 

Loans and Bills Discounted

   3,223,676    0.59    (140,696  0.01    3,364,372    0.57 

Securities

   245,476    1.74    (185,911  0.62    431,388    1.12 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   5,336,361    0.13    (460,549  0.02    5,796,911    0.10 

Deposits

   2,876,384    0.01    (235,724  (0.00   3,112,108    0.01 

NCDs

   645,954    0.00    82,902   (0.00   563,051    0.00 
International Operations           

Use of Funds

   67,984    1.02    (543,088  (0.62   611,073    1.65 

Loans and Bills Discounted

   44,835    1.47    (95,167  (0.41   140,003    1.88 

Securities

   8,249    0.29    (436,306  (1.37   444,556    1.67 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Source of Funds

   68,362    0.21    (575,699  (0.32   644,062    0.54 

Deposits

   3,981    0.01    371   (0.11   3,609    0.13 

NCDs

   —      —      —     —      —      —   

 

2-7


Mizuho Financial Group, Inc.

 

4. Net Gains/Losses on Securities

Consolidated

 

   (Millions of yen) 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Bonds

   21,178   (24,100  45,279 

Gains on Sales and Others

   49,923   (27,378  77,301 

Losses on Sales and Others

   (27,219  2,692   (29,912

Impairment (Devaluation)

   (1,296  1,751   (3,048

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

   (0  (0  (0

Gains (Losses) on Derivatives other than for Trading

   (228  (1,166  938 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Stocks

   14,931   84,422   (69,490

Gains on Sales

   116,459   72,330   44,129 

Losses on Sales

   (80,931  (56,923  (24,008

Impairment (Devaluation)

   (1,906  60,776   (62,682

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

   —     —     —   

Gains (Losses) on Derivatives other than for Trading

   (18,690  8,238   (26,929

Non-Consolidated

 

Aggregate Figures for the 2 Banks

 

 

   (Millions of yen) 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Bonds

   23,290   (21,193  44,483 

Gains on Sales and Others

   52,146   (25,137  77,284 

Losses on Sales and Others

   (27,332  3,399   (30,731

Impairment (Devaluation)

   (1,296  1,721   (3,017

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

   —     —     —   

Gains (Losses) on Derivatives other than for Trading

   (228  (1,176  947 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Stocks

   10,761   86,078   (75,317

Gains on Sales

   109,122   70,788   38,333 

Losses on Sales

   (78,276  (57,462  (20,814

Impairment (Devaluation)

   (1,394  64,424   (65,818

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

   —     89   (89

Gains (Losses) on Derivatives other than for Trading

   (18,690  8,238   (26,929

 

2-8


Mizuho Financial Group, Inc.

 

Mizuho Bank

 

   (Millions of yen) 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Bonds

   23,279   (14,800  38,080 

Gains on Sales and Others

   52,135   (17,530  69,665 

Losses on Sales and Others

   (27,330  2,358   (29,689

Impairment (Devaluation)

   (1,296  1,720   (3,017

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

   —     —     —   

Gains (Losses) on Derivatives other than for Trading

   (228  (1,349  1,121 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Stocks

   10,360   82,745   (72,385

Gains on Sales

   108,640   76,278   32,361 

Losses on Sales

   (78,233  (59,951  (18,281

Impairment (Devaluation)

   (1,356  62,529   (63,885

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

   —     89   (89

Gains (Losses) on Derivatives other than for Trading

   (18,690  3,800   (22,490
Mizuho Trust & Banking

 

   (Millions of yen) 
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Bonds

   10   (6,392  6,402 

Gains on Sales and Others

   11   (7,606  7,618 

Losses on Sales and Others

   (1  1,040   (1,041

Impairment (Devaluation)

   —     0   (0

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

   —     —     —   

Gains (Losses) on Derivatives other than for Trading

   —     173   (173
   First Half of Fiscal 2021  First Half of Fiscal 2020 
      Change    

Net Gains (Losses) related to Stocks

   400   3,332   (2,932

Gains on Sales

   482   (5,490  5,972 

Losses on Sales

   (43  2,489   (2,532

Impairment (Devaluation)

   (38  1,895   (1,933

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

   —     —     —   

Gains (Losses) on Derivatives other than for Trading

   —     4,438   (4,438

 

2-9


Mizuho Financial Group, Inc.

 

5. Unrealized Gains/Losses on Securities

 

  

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

Consolidated

(1) Other Securities

 

   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 
   Book Value   Unrealized Gains/Losses   Book Value   Unrealized Gains/Losses 
   (= Fair Value)      Gains   Losses   (= Fair Value)       Gains   Losses 

Other Securities

   41,930,391    1,627,137   1,986,505    359,367    42,534,848    1,603,253    1,989,800    386,547 

Japanese Stocks

   2,933,126    1,734,527   1,780,968    46,441    2,865,985    1,698,265    1,744,614    46,348 

Japanese Bonds

   22,433,956    (35,116  22,009    57,125    24,145,048    (44,978   24,765    69,743 

Japanese Government Bonds

   19,003,042    (24,301  1,113    25,415    20,920,582    (31,717   3,583    35,301 

Other

   16,563,307    (72,273  183,526    255,800    15,523,814    (50,033   220,421    270,454 

Foreign Bonds

   13,489,382    (47,725  58,129    105,855    12,433,912    (33,009   66,678    99,687 

 

               

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

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

*   Unrealized Gains/Losses include ¥38,068 million and ¥32,481 million, which were recognized in the statement of income for September 30, 2021 and March 31, 2021, respectively, by applying the fair-value hedge method. As a result, the base amounts to be recorded directly to Net Assets after necessary consolidation adjustments as of September 30, 2021 and March 31, 2021 are ¥1,589,069 million and ¥1,570,772 million, respectively.

*   Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax and consolidation adjustments, excluding the amount recognized in the statement of income by applying the fair-value hedge method, including translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships) as of September 30, 2021 and March 31, 2021 are ¥1,154,756 million and ¥1,132,460 million, respectively.

 

(2) Bonds Held to Maturity

 

    

    

    

    

 

   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 
   Book Value   Unrealized Gains/Losses   Book Value   Unrealized Gains/Losses 
      Gains   Losses       Gains   Losses 

Bonds Held to Maturity

   1,394,142    9,439   15,871    6,431    885,529    18,069         21,225      3,155 

Non-Consolidated

(1) Other Securities

Aggregate Figures for the 2 Banks

 

   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 
   Book Value   Unrealized Gains/Losses   Book Value   Unrealized Gains/Losses 
   (= Fair Value)      Gains   Losses   (= Fair Value)       Gains   Losses 

Other Securities

   40,729,325    1,547,414   1,908,231    360,816    41,388,529    1,527,548    1,915,021    387,472 

Japanese Stocks

   2,842,612    1,656,686   1,705,296    48,610    2,779,891    1,624,579    1,673,165    48,585 

Japanese Bonds

   22,413,879    (35,121  22,004    57,125    24,125,549    (44,985   24,758    69,743 

Japanese Government Bonds

   18,991,867    (24,304  1,110    25,415    20,909,339    (31,722   3,578    35,301 

Other

   15,472,833    (74,150  180,930    255,080    14,483,088    (52,045   217,097    269,142 

Foreign Bonds

   13,019,159    (47,982  57,157    105,140    12,031,174    (32,575   65,800    98,375 

Mizuho Bank

               

Other Securities

   40,438,630    1,457,776   1,815,072    357,295    41,113,338    1,441,229    1,826,408    385,178 

Japanese Stocks

   2,673,371    1,568,326   1,613,450    45,123    2,625,643    1,539,526    1,585,832    46,306 

Japanese Bonds

   22,298,234    (36,009  21,081    57,091    24,010,684    (45,887   23,842    69,729 

Japanese Government Bonds

   18,961,865    (24,302  1,110    25,413    20,879,330    (31,720   3,578    35,299 

Other

   15,467,024    (74,539  180,540    255,080    14,477,009    (52,409   216,733    269,142 

Foreign Bonds

   13,019,159    (47,982  57,157    105,140    12,031,174    (32,575   65,800    98,375 

Mizuho Trust & Banking

               

Other Securities

   290,695    89,637   93,158    3,520    275,190    86,318    88,612    2,293 

Japanese Stocks

   169,240    88,360   91,846    3,486    154,247    85,052    87,332    2,279 

Japanese Bonds

   115,645    888   922    34    114,865    901    915    13 

Japanese Government Bonds

   30,002    (1  —      1    30,009    (1   —      1 

Other

   5,809    389   389    0    6,078    364    364    0 

Foreign Bonds

   —      —     —      —      —      —      —      —   

 

*

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

*

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

*

Unrealized Gains/Losses include ¥38,068 million and ¥32,481 million, which were recognized in the statement of income (aggregate figures for the 2 banks) for September 30, 2021 and March 31, 2021, respectively, by applying the fair-value hedge method. As a result, the base amounts to be recorded directly to Net Assets after necessary adjustments (aggregate figures for the 2 banks) as of September 30, 2021 and March 31, 2021 are ¥1,509,346 million and ¥1,495,067 million, respectively.

*

Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax adjustment, excluding the amount recognized in the statement of income by applying the fair-value hedge method including translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships) as of September 30, 2021 and March 31, 2021 are as follows:

 

   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 

Aggregate Figures

   1,082,874    1,076,333 

Mizuho Bank

   1,012,693    1,009,001 

Mizuho Trust & Banking

   70,180    67,331 

 

2-10


Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

Aggregate Figures for the 2 Banks

   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 
       Unrealized Gains/Losses       Unrealized Gains/Losses 
   Book Value       Gains   Losses   Book Value       Gains   Losses 

Aggregate Figures

   1,394,142    9,439    15,871    6,431    885,529    18,069    21,225    3,155 

Mizuho Bank

   1,394,142    9,439    15,871    6,431    885,529    18,069    21,225    3,155 

Mizuho Trust & Banking

   —      —      —      —      —      —      —      —   

 

(3) Investment in Subsidiaries and Affiliates

 

Aggregate Figures for the 2 Banks

 

 

  
   (Millions of yen) 
   As of September 30, 2021   As of March 31, 2021 
       Unrealized Gains/Losses       Unrealized Gains/Losses 
   Book Value       Gains   Losses   Book Value       Gains   Losses 

Aggregate Figures

   135,771    311,808    311,980    172    135,771    286,554    286,573    19 

Mizuho Bank

   135,771    311,808    311,980    172    135,771    286,554    286,573    19 

Mizuho Trust & Banking

   —      —      —      —      —      —      —      —   

Reference

Unrealized Gains/Losses on Other Securities

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

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

Consolidated

 

   (Millions of yen) 
   As of September 30, 2021  As of
March 31,
2021
 
   Unrealized Gains/Losses  Unrealized
Gains/Losses
 
      Change 

Other Securities

   1,589,069   18,297   1,570,772 

Japanese Stocks

   1,696,459   30,674   1,665,784 

Japanese Bonds

   (35,116  9,862   (44,978

Japanese Government Bonds

   (24,301  7,416   (31,717

Other

   (72,273  (22,240  (50,033

Foreign Bonds

   (47,725  (14,716  (33,009

Non-Consolidated

Aggregate Figures for the 2 Banks

 

   (Millions of yen) 
   As of September 30, 2021  As of
March 31,
2021
 
   Unrealized Gains/Losses  Unrealized
Gains/Losses
 
      Change 

Other Securities

   1,509,346   14,278   1,495,067 

Japanese Stocks

   1,618,618   26,520   1,592,098 

Japanese Bonds

   (35,121  9,863   (44,985

Japanese Government Bonds

   (24,304  7,417   (31,722

Other

   (74,150  (22,105  (52,045

Foreign Bonds

   (47,982  (15,407  (32,575

 

2-11


Mizuho Financial Group, Inc.

 

6. Projected Redemption Amounts for Securities

 

  

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

Non-Consolidated

Aggregate Figures for the 2 Banks

 

                                                                                                                                                            
   (Billions of yen) 
   Maturity as of September 30, 2021  Change  Maturity as of March 31, 2021 
   Within
1 year
   1 - 5
years
   5 - 10
years
   Over
10 years
  Within
1 year
  1 - 5
years
  5 -  10
years
  Over
10 years
  Within
1 year
   1 - 5
years
   5 - 10
years
   Over
10 years
 

Japanese Bonds

   11,547.1      8,630.5    1,741.6    938.3   (4,314.3  2,222.4       102.5   272.4   15,861.4    6,408.1    1,639.1    665.9 

Japanese Government Bonds

   11,096.7    6,918.6    1,152.7    265.1   (4,350.6  2,074.7   147.7   210.1   15,447.4      4,843.9    1,005.0    55.0 

Japanese Local Government Bonds

   40.9    241.5    204.6    7.4   (13.9  22.7   33.3   (11.1  54.9    218.7    171.3    18.5 

Japanese Corporate Bonds

   409.3    1,470.3    384.3    665.8   50.2   124.9   (78.4  73.4   359.1    1,345.4    462.8    592.4 

Other

   2,503.6    3,371.8    2,786.0      5,676.2    (127.8  555.0   744.0   99.8   2,631.5    2,816.7    2,041.9    5,576.4 
Mizuho Bank                   

Japanese Bonds

   11,513.9    8,560.5    1,730.0    938.3   (4,314.3  2,213.0   111.1   272.4   15,828.3    6,347.4    1,618.9    665.9 

Japanese Government Bonds

   11,066.7    6,918.6    1,152.7    265.1   (4,350.6  2,074.7   147.7   210.1   15,417.4    4,843.9    1,005.0    55.0 

Japanese Local Government Bonds

   40.9    241.5    204.6    7.4   (13.9  22.7   33.3   (11.1  54.9    218.7    171.3    18.5 

Japanese Corporate Bonds

   406.2    1,400.4    372.6    665.8   50.2   115.5   (69.9  73.4   355.9    1,284.8    442.6    592.4 

Other

   2,503.2    3,367.1    2,783.9    5,676.2   (127.7  554.6   743.8   99.8   2,630.9    2,812.5    2,040.0      5,576.4 
Mizuho Trust & Banking                   

Japanese Bonds

   33.1    69.9    11.6    —     0.0   9.3   (8.5  —     33.1    60.6    20.2    —   

Japanese Government Bonds

   30.0    —      —      —     —     —     —     —     30.0    —      —      —   

Japanese Local Government Bonds

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

Japanese Corporate Bonds

   3.1    69.9    11.6    —     0.0   9.3   (8.5  —     3.1    60.6    20.2    —   

Other

   0.4    4.6    2.1    0.0   (0.0  0.3   0.1   0.0   0.5    4.2    1.9    —   

 

2-12


Mizuho Financial Group, Inc.

 

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

Non-Consolidated

 

  

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

Aggregate Figures for the 2 Banks

 

                                                                                                                                                            
   (Billions of yen) 
   As of September 30, 2021   Change  As of March 31, 2021 
   Within
1 year
   1 - 5
years
   Over
5 years
   Total   Within
1 year
  1 - 5
years
  Over
5 years
  Total  Within
1 year
   1 - 5
years
   Over
5 years
   Total 

Receive Fixed / Pay Float

     3,024.5    9,118.0    4,941.9    17,084.5    78.7         42.5   (637.1  (515.7    2,945.7    9,075.4    5,579.0    17,600.3 

Receive Float / Pay Fixed

   701.8    1,535.9    4,323.9    6,561.8    93.5   (371.8  1,056.0   777.8   608.2    1,907.8    3,267.8    5,784.0 

Receive Float / Pay Float

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

Receive Fixed / Pay Fixed

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

Total

   3,726.3    10,654.0    9,265.9    23,646.3        172.3   (329.3  418.9        262.0   3,553.9    10,983.3    8,846.9    23,384.3 
Mizuho Bank                    

Receive Fixed / Pay Float

   3,024.5    9,118.0    4,926.9    17,069.5    78.7   42.5   (642.1  (520.7  2,945.7    9,075.4    5,569.0    17,590.3 

Receive Float / Pay Fixed

   701.8    1,465.9    3,958.9    6,126.8    93.5   (371.8  1,056.0   777.8   608.2    1,837.8    2,902.8    5,349.0 

Receive Float / Pay Float

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

Receive Fixed / Pay Fixed

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

Total

   3,726.3    10,584.0    8,885.9    23,196.3    172.3   (329.3  413.9   257.0   3,553.9    10,913.3    8,471.9    22,939.3 
Mizuho Trust & Banking                    

Receive Fixed / Pay Float

   —      —      15.0    15.0    —     —     5.0   5.0   —      —      10.0    10.0 

Receive Float / Pay Fixed

   —      70.0    365.0    435.0    —     —     —     —     —      70.0    365.0    435.0 

Receive Float / Pay Float

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

Receive Fixed / Pay Fixed

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

Total

   —      70.0    380.0    450.0    —     —     5.0   5.0   —      70.0    375.0    445.0 

Reference:

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

 

   (Billions of yen) 
   As of September 30, 2021  Change  As of March 31, 2021 
   Deferred Hedge Gains/Losses  Deferred Hedge Gains/Losses  Deferred Hedge Gains/Losses 
   Gains   Losses      Gains  Losses     Gains   Losses     

Aggregate Figures

   1,107.4    1,114.2    (6.7  (70.9  (24.7  (46.2  1,178.4    1,138.9    39.5 

Mizuho Bank

   1,097.4    1,097.3    0.0   (71.3  (28.1  (43.1  1,168.8    1,125.5    43.2 

Mizuho Trust & Banking

   10.0    16.8    (6.8  0.3   3.4   (3.0  9.6    13.3    (3.7

 

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

 

2-13


Mizuho Financial Group, Inc.

 

8. Employee Retirement Benefits

Non-Consolidated

Retirement Benefit Obligations

Aggregate Figures for the 2 Banks

 

     (Millions of yen) 
         First Half of    
Fiscal 2021
      Change            First Half of      
Fiscal 2020
 

Retirement Benefit Obligations (at the beginning of the fiscal year)

 (A)   1,125,762   (94,993  1,220,755 

Discount Rate (%)

    (0.07)~0.82    (0.00)~0.62 
   

 

 

  

 

 

  

 

 

 

Fair Value of Plan Assets (at the beginning of the fiscal year)

 (B)   2,113,359   115,930   1,997,428 

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

 (C)   (397,727  (243,087  (154,639

Prepaid Pension Cost/Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

 (B)+ (C) - (A)   589,869   (32,163  622,033 

Mizuho Bank

     

Retirement Benefit Obligations (at the beginning of the fiscal year)

 (A)   987,980   (84,573  1,072,553 

Discount Rate (%)

    (0.07)~0.82    (0.00)~0.62 
   

 

 

  

 

 

  

 

 

 

Fair Value of Plan Assets (at the beginning of the fiscal year)

 (B)   1,851,065   94,480   1,756,585 

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

 (C)   (338,917  (211,159  (127,758

Prepaid Pension Cost (at the beginning of the fiscal year)

 (B)+ (C) - (A)   524,167   (32,105  556,273 

Mizuho Trust & Banking

     

Retirement Benefit Obligations (at the beginning of the fiscal year)

 (A)   137,781   (10,420  148,201 

Discount Rate (%)

    (0.07)~0.82    (0.00)~0.62 
   

 

 

  

 

 

  

 

 

 

Fair Value of Plan Assets (at the beginning of the fiscal year)

 (B)   262,293   21,450   240,842 

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

 (C)   (58,809  (31,928  (26,881

Prepaid Pension Cost/Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

 (B)+ (C) - (A)   65,701   (57  65,759 

 

2-14


Mizuho Financial Group, Inc.

 

Income (Expenses) related to Employee Retirement Benefits

Aggregate Figures for the 2 Banks

     (Millions of yen) 
         First Half of    
Fiscal 2021
      Change            First Half of      
Fiscal 2020
 

Service Cost

                 (10,139  3,614   (13,753

Interest Cost

    (1,629  156   (1,785

Expected Return on Plan Assets

    15,028   (2,347  17,376 

Accumulation (Amortization) of Unrecognized Actuarial Differences

    25,725   11,961   13,763  

Accumulation (Amortization) of Unrecognized Prior Service Cost

    —     (52,391  52,391 

Gains on Cancellation of Employee Retirement Benefit Trust

    51,093   43,198   7,895 

Losses on Transfer to Defined Contribution Pension Plan

    —     2,519   (2,519

Other

    (3,813  413   (4,226
   

 

 

  

 

 

  

 

 

 

Total

    76,266   7,124   69,141 
   

 

 

  

 

 

  

 

 

 

 

Note: Accumulation (Amortization) of Unrecognized Prior Service Cost, Gains on Cancellation of Employee Retirement Benefit Trust and Losses on Transfer to Defined Contribution Pension Plan are recorded to Extraordinary Gains (Losses).

 

 

Mizuho Bank

     
     (Millions of yen) 
         First Half of    
Fiscal 2021
      Change      First Half of
      Fiscal 2020    
 

Service Cost

                      (8,524  3,085   (11,609

Interest Cost

    (1,428  138   (1,566

Expected Return on Plan Assets

    13,398   (2,172   15,570  

Accumulation (Amortization) of Unrecognized Actuarial Differences

    22,682   10,247   12,435 

Accumulation (Amortization) of Unrecognized Prior Service Cost

    —     (45,822  45,822 

Gains on Cancellation of Employee Retirement Benefit Trust

    43,610   35,715   7,895 

Losses on Transfer to Defined Contribution Pension Plan

    —     2,187   (2,187

Other

    (3,539  287   (3,826
   

 

 

  

 

 

  

 

 

 

Total

    66,199   3,667   62,532 
   

 

 

  

 

 

  

 

 

 

 

Note: Accumulation (Amortization) of Unrecognized Prior Service Cost, Gains on Cancellation of Employee Retirement Benefit Trust and Losses on Transfer to Defined Contribution Pension Plan are recorded to Extraordinary Gains (Losses).

 

 

Mizuho Trust & Banking

 

     (Millions of yen) 
     First Half of
Fiscal 2021
      Change      First Half of
      Fiscal 2020      
 

Service Cost

                      (1,614  528   (2,143

Interest Cost

    (201  17   (218

Expected Return on Plan Assets

    1,630   (175  1,805 

Accumulation (Amortization) of Unrecognized Actuarial Differences

    3,042   1,714   1,328 

Accumulation (Amortization) of Unrecognized Prior Service Cost

    —     (6,569  6,569 

Gains on Cancellation of Employee Retirement Benefit Trust

    7,483   7,483   —   

Losses on Transfer to Defined Contribution Pension Plan

    —     331   (331

Other

    (274  125   (400
   

 

 

  

 

 

  

 

 

 

Total

    10,066   3,456   6,609 
   

 

 

  

 

 

  

 

 

 

 

Note: Accumulation (Amortization) of Unrecognized Prior Service Cost, Gains on Cancellation of Employee Retirement Benefit Trust and Losses on Transfer to Defined Contribution Pension Plan are recorded to Extraordinary Gains (Losses).

 

2-15


Mizuho Financial Group, Inc.

 

Consolidated

Retirement Benefit Obligations

     (Millions of yen) 
     First Half of
Fiscal 2021
  Change        First Half of      
Fiscal 2020
 

Retirement Benefit Obligations (at the beginning of the fiscal year)

 (A)   1,335,890   (104,450  1,440,341 

Fair Value of Plan Assets (at the beginning of the fiscal year)

 (B)   2,373,949   148,939   2,225,010 

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

 (C)   (409,679  (270,870  (138,808

Net Defined Benefit Asset (at the beginning of the fiscal year)

 (D)   1,109,107   262,325   846,782 

Net Defined Benefit Liability (at the beginning of the fiscal year)

 (A)-(B)+(D)   71,049   8,935   62,113 

 

Income (Expenses) related to Employee Retirement Benefits

 

     (Millions of yen) 
         First Half of    
Fiscal 2021
      Change      First Half of
Fiscal 2020
 

Service Cost

    (15,917  4,808   (20,725

Interest Cost

    (1,970  173   (2,144

Expected Return on Plan Assets

                    17,402   (2,057  19,460 

Accumulation (Amortization) of Unrecognized Actuarial Differences

    25,922   13,483   12,439 

Accumulation (Amortization) of Unrecognized Prior Service Cost

    (23  (61,993  61,969 

Gains on Cancellation of Employee Retirement Benefit Trust

    51,093   43,198   7,895 

Losses on Transfer to Defined Contribution Pension Plan

    —     3,320   (3,320

Other

    (6,832  508   (7,341
   

 

 

  

 

 

  

 

 

 

Total

    69,675   1,442   68,232 
   

 

 

  

 

 

  

 

 

 

 

Notes: (1)

Accumulation (Amortization) of Unrecognized Prior Service Cost,Gains on Cancellation of Employee Retirement Benefit Trust and Losses on Transfer to Defined Contribution Pension Plan that arose in Fiscal 2020, except for a portion thereof, are recorded to Extraordinary Gains (Losses) (¥66,579 million).

    

(2) Gains on Cancellation of Employee Retirement Benefit Trust in Fiscal 2021 is recorded to Extraordinary Gains.

 

2-16


Mizuho Financial Group, Inc.

 

9. Capital Ratio

Mizuho Financial Group

International Standard

 

   Consolidated       (%, Billions of yen)     
   As of September 30, 2021
(Preliminary)
   Change   As of March 31, 2021

 

     

(1)   Total Capital Ratio

   17.76    0.89    16.87   

(2)   Tier 1 Capital Ratio

   15.03    0.66    14.37   

(3)   Common Equity Tier 1 Capital Ratio

   12.27    0.64    11.63   

(4)   Total Capital

   11,927.0    541.6    11,385.3   

(5)   Tier 1 Capital

   10,098.4    396.4    9,701.9   

(6)   Common Equity Tier 1 Capital

   8,243.5    393.6    7,849.9   

(7)   Risk weighted Assets

   67,147.7    (334.2   67,481.9   

(8)   Total Required Capital (7) X8%

   5,371.8    (26.7   5,398.5   

Mizuho Bank

 

International Standard

        
   Consolidated           Non-Consolidated 
   As of September 30, 2021
(Preliminary)
   Change   As of March 31, 2021

 

   As of September 30, 2021
(Preliminary)
 

(1)   Total Capital Ratio

   17.59    1.02    16.57    17.79 

(2)   Tier 1 Capital Ratio

   14.79    0.74    14.05    14.83 

(3)   Common Equity Tier 1 Capital Ratio

   11.82    0.71    11.11    11.66 

(4)   Total Capital

   10,923.5    523.5    10,399.9    10,354.9 

(5)   Tier 1 Capital

   9,186.6    367.8    8,818.7    8,634.6 

(6)   Common Equity Tier 1 Capital

   7,339.5    367.7    6,971.8    6,789.8 

(7)   Risk weighted Assets

   62,092.0    (641.9   62,734.0    58,204.1 

(8)   Total Required Capital (7) X8%

   4,967.3    (51.3   5,018.7    4,656.3 

Mizuho Trust & Banking

 

International Standard

        
   Consolidated           Non-Consolidated 
   As of September 30, 2021
(Preliminary)
   Change   As of March 31, 2021

 

   As of September 30, 2021
(Preliminary)
 

(1)   Total Capital Ratio

   26.71    (2.23   28.94    26.04 

(2)   Tier 1 Capital Ratio

   26.70    (2.24   28.94    26.03 

(3)   Common Equity Tier 1 Capital Ratio

   26.70    (2.24   28.94    26.03 

(4)   Total Capital

   479.4    (47.1   526.6    464.8 

(5)   Tier 1 Capital

   479.3    (47.1   526.5    464.7 

(6)   Common Equity Tier 1 Capital

   479.3    (47.1   526.5    464.7 

(7)   Risk weighted Assets

   1,794.9    (24.2   1,819.1    1,784.8 

(8)   Total Required Capital (7) X8%

   143.5    (1.9   145.5    142.7 

 

2-17


Mizuho Financial Group, Inc.

 

II. REVIEW OF CREDITS

1. Status of Non-Accrual, Past Due & Restructured Loans

 

  

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

 

  

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

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

Consolidated

 

   (Millions of yen, %) 
   As of September 30, 2021          As of March 31, 2021 
       %   Change  %       % 

Loans to Bankrupt Obligors

   23,211    0.02    3,657   0.00    19,554    0.02 

Non-Accrual Delinquent Loans

   329,493    0.40    (85,825  (0.09   415,318    0.49 

Loans Past Due for 3 Months or More

   1,126    0.00    591   0.00    534    0.00 

Restructured Loans

   457,085    0.55    80,035   0.10    377,049    0.45 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   810,916    0.98    (1,541  0.01    812,457    0.97 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total Loans

   82,198,528    100.00    (1,506,147    83,704,675    100.00 

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

 

Amount of Partial Direct Write-offs

   103,956      (1,392    105,348   
Trust Account

 

   As of September 30, 2021          As of March 31, 2021 
       %   Change  %       % 

Loans to Bankrupt Obligors

   —      —      —     —      —      —   

Non-Accrual Delinquent Loans

   —      —      —     —      —      —   

Loans Past Due for 3 Months or More

   —      —      —     —      —      —   

Restructured Loans

   —      —      —     —      —      —   
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   —      —      —     —      —      —   
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total Loans

   4,292    100.00    (494    4,787    100.00 

Consolidated + Trust Account

           
   As of September 30, 2021          As of March 31, 2021 
       %   Change  %       % 

Loans to Bankrupt Obligors

   23,211    0.02    3,657   0.00    19,554    0.02 

Non-Accrual Delinquent Loans

   329,493    0.40    (85,825  (0.09   415,318    0.49 

Loans Past Due for 3 Months or More

   1,126    0.00    591   0.00    534    0.00 

Restructured Loans

   457,085    0.55       80,035   0.10    377,049    0.45 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   810,916    0.98    (1,541  0.01    812,457    0.97 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total Loans

   82,202,820    100.00    (1,506,641    83,709,462    100.00 

 

  

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

 

2-18


Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)

 

   (Millions of yen, %) 
   As of September 30, 2021          As of March 31, 2021 
       %   Change  %       % 

Loans to Bankrupt Obligors

   21,689    0.02    2,679   0.00    19,009    0.02 

Non-Accrual Delinquent Loans

   315,367    0.37    (82,205  (0.08   397,573    0.46 

Loans Past Due for 3 Months or More

   1,125    0.00    591   0.00    534    0.00 

Restructured Loans

   417,318    0.50    84,849   0.11    332,469    0.38 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   755,501    0.90    5,914   0.03    749,587    0.87 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 
           

Total Loans

   83,264,462    100.00    (2,177,182    85,441,645    100.00 

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

 

Amount of Partial Direct Write-offs

   99,559      (1,275    100,834   

Mizuho Bank

           

Loans to Bankrupt Obligors

   21,689    0.02    2,693   0.00    18,995    0.02 

Non-Accrual Delinquent Loans

   310,339    0.38    (80,555  (0.08   390,895    0.47 

Loans Past Due for 3 Months or More

   1,124    0.00    589   0.00    534    0.00 

Restructured Loans

   416,040    0.51    84,017   0.11    332,022    0.40 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   749,193    0.93    6,744   0.03    742,448    0.90 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 
           
Total Loans   80,080,848    100.00    (1,993,742    82,074,591    100.00 
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

Amount of Partial Direct Write-offs

   99,343      (1,275    100,618   

Mizuho Trust & Banking

(Banking Account)

           

Loans to Bankrupt Obligors

   —      —      (14  (0.00   14    0.00 

Non-Accrual Delinquent Loans

   5,028    0.15    (1,649  (0.04   6,678    0.19 

Loans Past Due for 3 Months or More

   1    0.00    1   0.00    —      —   

Restructured Loans

   1,278    0.04    831   0.02    446    0.01 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   6,308    0.19    (830  (0.01   7,138    0.21 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 
           

Total Loans

   3,179,321    100.00    (182,945    3,362,267    100.00 

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

 

Amount of Partial Direct Write-offs

   215      (0    216   

(Trust Account)

           

Loans to Bankrupt Obligors

   —      —      —     —      —      —   

Non-Accrual Delinquent Loans

   —      —      —     —      —      —   

Loans Past Due for 3 Months or More

   —      —      —     —      —      —   

Restructured Loans

   —      —      —     —      —      —   
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   —      —      —     —      —      —   
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 
           

Total Loans

   4,292    100.00    (494    4,787    100.00 

 

  

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

 

2-19


Mizuho Financial Group, Inc.

 

2. Status of Reserves for Possible Losses on Loans

Consolidated

   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Reserves for Possible Losses on Loans

   594,023    18,450   575,572 

General Reserve for Possible Losses on Loans

   448,993    65,931   383,062 

Specific Reserve for Possible Losses on Loans

   143,821    (47,387  191,208 

Reserve for Possible Losses on Loans to Restructuring Countries

   1,209    (92  1,301 

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

     

Amount of Partial Direct Write-offs

        113,626    (3,208       116,834 

 

Non-Consolidated

 

Aggregate Figures for the 2 Banks

 

     
   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Reserves for Possible Losses on Loans

   560,225          19,928   540,297 

General Reserve for Possible Losses on Loans

   430,386    65,469   364,916 

Specific Reserve for Possible Losses on Loans

   128,629    (45,448  174,078 

Reserve for Possible Losses on Loans to Restructuring Countries

   1,209    (92  1,301 

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

     

Amount of Partial Direct Write-offs

   108,735    (2,930  111,666 

Mizuho Bank

     
Reserves for Possible Losses on Loans   556,219    20,118   536,101 

General Reserve for Possible Losses on Loans

   426,729    64,660   362,068 

Specific Reserve for Possible Losses on Loans

   128,280    (44,449  172,730 

Reserve for Possible Losses on Loans to Restructuring Countries

   1,209    (92  1,301 

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

     

Amount of Partial Direct Write-offs

   108,519    (2,930  111,450 

Mizuho Trust & Banking

     

Reserves for Possible Losses on Loans

   4,006    (189  4,196 

General Reserve for Possible Losses on Loans

   3,657    809   2,847 

Specific Reserve for Possible Losses on Loans

   349    (998  1,348 

Reserve for Possible Losses on Loans to Restructuring Countries

   —      —     —   

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

     

Amount of Partial Direct Write-offs

   215    (0  216 

Reserve for Possible Losses on Entrusted Loans (¥13 million and ¥15 million for September 30, 2021 and March 31, 2021, respectively) is not included in the above figures for Trust Account.

 

2-20


Mizuho Financial Group, Inc.

 

3. Reserve Ratios for Non-Accrual, Past Due & Restructured Loans

Consolidated

 

   (%) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Mizuho Financial Group

   73.25    2.40            70.84 

 

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

 

Non-Consolidated

     
   (%) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Total

            74.15              2.07    72.07 

Mizuho Bank

   74.24    2.03   72.20 

Mizuho Trust & Banking (Banking Account)

   63.51    4.73   58.77 

 

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

 

2-21


Mizuho Financial Group, Inc.

 

4. Status of Non Performing Loans based on the Financial Reconstruction Act(“FRA”)

Consolidated

 

   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Claims against Bankrupt and Substantially Bankrupt Obligors

   54,362    (1,143  55,506 

Claims with Collection Risk

   327,028    (82,713  409,742 

Claims for Special Attention

   458,211    80,627   377,584 

Sub-total[1]

   839,603    (3,229  842,832 

Normal Claims

   92,186,254    (1,000,543  93,186,798 
  

 

 

   

 

 

  

 

 

 

Total[2]

   93,025,857    (1,003,773  94,029,630 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[1]/[2]

   0.90    0.00   0.89 
Above figures are presented net of partial direct write-offs.

 

Trust Account     
   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Claims against Bankrupt and Substantially Bankrupt Obligors

   —      —     —   

Claims with Collection Risk

   —      —     —   

Claims for Special Attention

   —      —     —   

Sub-total[3]

   —      —     —   

Normal Claims

   4,292    (494  4,787 
  

 

 

   

 

 

  

 

 

 

Total[4]

   4,292    (494  4,787 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[3]/[4]

   —      —     —   

Consolidated + Trust Account

     
   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Claims against Bankrupt and Substantially Bankrupt Obligors

   54,362    (1,143  55,506 

Claims with Collection Risk

   327,028    (82,713  409,742 

Claims for Special Attention

   458,211    80,627   377,584 

Sub-total[5]

   839,603    (3,229  842,832 

Normal Claims

   92,190,547    (1,001,037  93,191,585 
  

 

 

   

 

 

  

 

 

 

Total[6]

   93,030,150    (1,004,267  94,034,418 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[5]/[6]

   0.90    0.00   0.89 

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

 

2-22


Mizuho Financial Group, Inc.

 

Non-Consolidated

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

 

   (Millions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Claims against Bankrupt and Substantially Bankrupt Obligors

   43,576    (5,144  48,720 

Claims with Collection Risk

   327,254    (83,798  411,052 

Claims for Special Attention

   418,444    85,440   333,004 

Sub-total[1]

   789,275    (3,502  792,777 

Normal Claims

   93,455,464    (1,688,911  95,144,375 
  

 

 

   

 

 

  

 

 

 

Total[2]

   94,244,739    (1,692,413  95,937,152 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[1]/[2]

   0.83    0.01   0.82 

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

 

 
Mizuho Bank     
   (Millions of yen) 

Claims against Bankrupt and Substantially Bankrupt Obligors

   43,304    (5,136  48,440 

Claims with Collection Risk

   322,497    (82,142  404,640 

Claims for Special Attention

   417,165    84,607   332,557 

Sub-total[3]

   782,966    (2,671  785,638 

Normal Claims

   90,261,980    (1,506,909  91,768,889 
  

 

 

   

 

 

  

 

 

 

Total[4]

   91,044,947    (1,509,580  92,554,528 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[3]/[4]

   0.85    0.01   0.84 

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

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

Claims against Bankrupt and Substantially Bankrupt Obligors

   272    (8  280 

Claims with Collection Risk

   4,756    (1,655  6,412 

Claims for Special Attention

   1,279    833   446 

Sub-total[5]

   6,308    (830  7,138 

Normal Claims

   3,189,190    (181,507  3,370,698 
  

 

 

   

 

 

  

 

 

 

Total[6]

   3,195,499    (182,338  3,377,837 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[5]/[6]

   0.19    (0.01  0.21 

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

 

(Trust Account)     
   (Millions of yen) 

Claims against Bankrupt and Substantially Bankrupt Obligors

   —      —     —   

Claims with Collection Risk

   —      —     —   

Claims for Special Attention

   —      —     —   

Sub-total[7]

   —      —     —   

Normal Claims

   4,292    (494  4,787 
  

 

 

   

 

 

  

 

 

 

Total[8]

   4,292    (494  4,787 
  

 

 

   

 

 

  

 

 

 
   (%) 

NPL ratio[7]/[8]

   —      —     —   

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

 

2-23


Mizuho Financial Group, Inc.

 

5. Coverage on Non Performing Loans based on the FRA

Non-Consolidated

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

 

   (Billions of yen) 
   As of
September 30, 2021
   Change  As of
March 31, 2021
 
Aggregate Figures for the 2 Banks (Banking Account)     

Claims against Bankrupt and Substantially Bankrupt Obligors

   43.5    (5.1  48.7 

Collateral, Guarantees, and equivalent

   37.6    (4.6  42.3 

Reserve for Possible Losses

   5.8    (0.4  6.3 

Claims with Collection Risk

   327.2    (83.7  411.0 

Collateral, Guarantees, and equivalent

   142.3    (22.3  164.7 

Reserve for Possible Losses

   122.7    (44.9  167.6 

Claims for Special Attention

   418.4    85.4   333.0 

Collateral, Guarantees, and equivalent

   111.7    10.8   100.9 

Reserve for Possible Losses

   92.4    34.9   57.5 

Total

   789.2    (3.5  792.7 

Collateral, Guarantees, and equivalent

   291.8    (16.2  308.0 

Reserve for Possible Losses

   221.1    (10.4  231.6 
Mizuho Bank     

Claims against Bankrupt and Substantially Bankrupt Obligors

   43.3    (5.1  48.4 

Collateral, Guarantees, and equivalent

   37.4    (4.6  42.0 

Reserve for Possible Losses

   5.8    (0.4  6.3 

Claims with Collection Risk

   322.4    (82.1  404.6 

Collateral, Guarantees, and equivalent

   138.2    (22.3  160.5 

Reserve for Possible Losses

   122.3    (43.9  166.3 

Claims for Special Attention

   417.1    84.6   332.5 

Collateral, Guarantees, and equivalent

   111.6    10.8   100.8 

Reserve for Possible Losses

   92.2    34.7   57.4 

Total

   782.9    (2.6  785.6 

Collateral, Guarantees, and equivalent

   287.3    (16.1  303.4 

Reserve for Possible Losses

   220.5    (9.6  230.1 
Mizuho Trust & Banking (Banking Account)     

Claims against Bankrupt and Substantially Bankrupt Obligors

   0.2    (0.0  0.2 

Collateral, Guarantees, and equivalent

   0.2    (0.0  0.2 

Reserve for Possible Losses

   —      —     —   

Claims with Collection Risk

   4.7    (1.6  6.4 

Collateral, Guarantees, and equivalent

   4.1    (0.0  4.2 

Reserve for Possible Losses

   0.3    (0.9  1.3 

Claims for Special Attention

   1.2    0.8   0.4 

Collateral, Guarantees, and equivalent

   0.0    (0.0  0.0 

Reserve for Possible Losses

   0.2    0.1   0.0 

Total

   6.3    (0.8  7.1 

Collateral, Guarantees, and equivalent

   4.4    (0.0  4.5 

Reserve for Possible Losses

   0.5    (0.8  1.4 
Reference: Trust Account     

Claims against Bankrupt and Substantially Bankrupt Obligors

   —      —     —   

Collateral, Guarantees, and equivalent

   —      —     —   

Claims with Collection Risk

   —      —     —   

Collateral, Guarantees, and equivalent

   —      —     —   

Claims for Special Attention

   —      —     —   

Collateral, Guarantees, and equivalent

   —      —     —   

Total

   —      —     —   

Collateral, Guarantees, and equivalent

   —      —     —   

 

*

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

 

2-24


Mizuho Financial Group, Inc.

 

(2) Coverage Ratio

 

   (Billions of yen) 
   As of
September 30, 2021
   Change  As of
March 31, 2021
 
Aggregate Figures for the 2 Banks (Banking Account)     

Coverage Amount

   512.9    (26.6  539.6 

Reserves for Possible Losses on Loans

   221.1    (10.4  231.6 

Collateral, Guarantees, and equivalent

   291.8    (16.2  308.0 
   (%) 

Coverage Ratio

   64.9    (3.0  68.0 

Claims against Bankrupt and Substantially Bankrupt Obligors

   100.0    —     100.0 

Claims with Collection Risk

   81.0    0.1   80.8 

Claims for Special Attention

   48.8    1.2   47.5 

Claims against Special Attention Obligors

   48.5    5.1   43.3 

Reserve Ratio against Non-collateralized Claims

     
   (%) 

Claims against Bankrupt and Substantially Bankrupt Obligors

   100.0    —     100.0 

Claims with Collection Risk

   66.3    (1.6  68.0 

Claims for Special Attention

   30.1    5.3   24.7 

Claims against Special Attention Obligors

   37.1    8.3   28.7 

Reference: Reserve Ratio

     
   (%) 

Claims against Special Attention Obligors

   30.38    7.52   22.85 

Claims against Watch Obligors excluding Special Attention Obligors

   4.18    (0.68  4.87 

Claims against Normal Obligors

   0.10    (0.00  0.10 

Mizuho Bank

     
   (Billions of yen) 

Coverage Amount

   507.8    (25.7  533.6 

Reserves for Possible Losses on Loans

   220.5    (9.6  230.1 

Collateral, Guarantees, and equivalent

   287.3    (16.1  303.4 
   (%) 

Coverage Ratio

   64.8    (3.0  67.9 

Claims against Bankrupt and Substantially Bankrupt Obligors

   100.0    —     100.0 

Claims with Collection Risk

   80.8    0.0   80.7 

Claims for Special Attention

   48.8    1.2   47.6 

Claims against Special Attention Obligors

   48.6    5.2   43.3 

Reserve Ratio against Non-collateralized Claims

 

 
   (%) 

Claims against Bankrupt and Substantially Bankrupt Obligors

   100.0    —     100.0 

Claims with Collection Risk

   66.4    (1.7  68.1 

Claims for Special Attention

   30.2    5.4   24.8 

Claims against Special Attention Obligors

   37.1    8.4   28.7 

Reference: Reserve Ratio

     
   (%) 

Claims against Special Attention Obligors

   30.41    7.55   22.86 

Claims against Watch Obligors excluding Special Attention Obligors

   4.25    (0.66  4.92 

Claims against Normal Obligors

   0.10    (0.00  0.10 

 

2-25


Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking (Banking Account)

 

   (Billions of yen) 
   As of
September 30, 2021
   Change  As of
March 31, 2021
 

Coverage Amount

   5.0    (0.9  5.9 

Reserves for Possible Losses on Loans

   0.5    (0.8  1.4 

Collateral, Guarantees, and equivalent

   4.4    (0.0  4.5 
   (%) 

Coverage Ratio

   80.1    (3.5  83.7 

Claims against Bankrupt and Substantially Bankrupt Obligors

   100.0    —     100.0 

Claims with Collection Risk

   94.6    7.9   86.7 

Claims for Special Attention

   21.9    (7.5  29.4 

Claims against Special Attention Obligors

   20.9    (5.4  26.4 

Reserve Ratio against Non-collateralized Claims

     
   (%) 

Claims against Bankrupt and Substantially Bankrupt Obligors

   —      —     —   

Claims with Collection Risk

   57.1    (4.0  61.1 

Claims for Special Attention

   19.2    (0.9  20.2 

Claims against Special Attention Obligors

   19.2    (0.9  20.1 

Reference: Reserve Ratio

     
   (%) 

Claims against Special Attention Obligors

   18.81    0.23   18.57 

Claims against Watch Obligors excluding Special Attention Obligors

   1.00    (0.65  1.66 

Claims against Normal Obligors

   0.08    0.02   0.06 

 

2-26


Mizuho Financial Group, Inc.

 

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

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account)

(Billions of yen)

 

LOGO

 

Notes: 1.  

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

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

2.

  The difference between total Non-Accrual, Past Due & Restructured Loans and total Non Performing Loans based on the FRA represents the amount of claims other than loans included in Non Performing Loans based on the FRA.

 

2-27


Mizuho Financial Group, Inc.

 

7. Results of Removal of NPLs from the Balance Sheet

Non-Consolidated

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

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

 

   (Billions of yen) 
   Fiscal 2018   Fiscal 2019  Fiscal 2020  Fiscal 2021 
   As of
March 31,
2019
   As of
March 31,
2020
  As of
March 31,
2021
  As of September 30, 2021 
             MHBK   MHTB*   Aggregate
Figures for
the 2
Banks
   Change from
March 31,
2021
 

Claims against Bankrupt and Substantially Bankrupt Obligors

   52.9    38.1   29.2   26.1    0.2    26.4    (2.8

Claims with Collection Risk

   347.6    214.6   164.1   144.2    1.1    145.4    (18.7

Amount Categorized as above up to Fiscal 2018

   400.6    252.7   193.4   170.4    1.3    171.8    (21.5

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

   40.8    32.4   26.5   28.1    0.2    28.3    1.7 

Claims against Bankrupt and Substantially Bankrupt Obligors

     12.8   4.4   6.5    0.0    6.5    2.1 

Claims with Collection Risk

     171.8   82.6   34.1    0.0    34.2    (48.4

Amount Newly Categorized as above during Fiscal 2019

     184.7   87.0   40.7    0.1    40.8    (46.2

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

     12.0   5.0   7.2    0.0    7.2    2.1 

Claims against Bankrupt and Substantially Bankrupt Obligors

      15.0   5.2    0.0    5.2    (9.7

Claims with Collection Risk

      164.2   110.7    3.3    114.0    (50.1

Amount Newly Categorized as above during Fiscal 2020

      179.2   116.0    3.3    119.3    (59.8

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

      13.6   4.6    0.0    4.6    (9.0

Claims against Bankrupt and Substantially Bankrupt Obligors

       5.3    0.0    5.3    5.3 

Claims with Collection Risk

       33.2    0.1    33.4    33.4 

Amount Newly Categorized as above during the First Half of Fiscal 2021

       38.6    0.1    38.8    38.8 

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

       5.3    0.0    5.3    5.3 

Claims against Bankrupt and Substantially Bankrupt Obligors

   52.9    51.0   48.7   43.3    0.2    43.5    (5.1

Claims with Collection Risk

   347.6    386.5   411.0   322.4    4.7    327.2    (83.7

Total

   400.6    437.5   459.7   365.8    5.0    370.8    (88.9

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

   40.8    44.5   45.3   45.3    0.2    45.5    0.2 

 

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

*                   denotes newly categorized amounts.                                             

(2) Breakdown of Reasons for Removal of NPLs from the Balance Sheet in the First Half of Fiscal 2021

 

 

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

Liquidation

   (3.3  (3.3  —   

Restructuring

   (21.9  (21.9  —   

Improvement in Business Performance due to Restructuring

   (0.0  —     (0.0

Loan Sales

   (14.9  (14.9  —   

Direct Write-off

   19.9   21.0   (1.0

Other

   (107.5  (106.7  (0.7

Debt recovery

   (36.1  (35.5  (0.6

Improvement in Business Performance

   (71.3  (71.2  (0.1
  

 

 

  

 

 

  

 

 

 

Total

   (127.7  (125.9  (1.8
  

 

 

  

 

 

  

 

 

 

 

2-28


Mizuho Financial Group, Inc.

 

8. Status of Loans by Industry

(1) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Industry

Non-Consolidated

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

 

   (Billions of yen) 
   As of September 30, 2021  As of March 31, 2021 
   Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
   Change  Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
 
  Outstanding
Balance
  Non-Accrual,
Past Due &
Restructured
Loans
 

Domestic Total (excluding Loans Booked Offshore)

   59,938.6    706.2    (2,105.5  26.3   62,044.2    679.8 

Manufacturing

   10,462.1    229.1    (452.4  17.9   10,914.5    211.1 

Agriculture & Forestry

   47.8    0.7    (2.8  (0.0  50.7    0.7 

Fishery

   2.5    0.3    0.2   (0.0  2.2    0.3 

Mining, Quarrying Industry & Gravel Extraction Industry

   225.8    0.2    (90.0  0.1   315.8    0.1 

Construction

   708.8    5.0    (19.3  (0.2  728.1    5.2 

Utilities

   2,890.2    1.1    37.5   (0.9  2,852.6    2.1 

Communication

   1,270.5    9.4    45.4   0.0   1,225.0    9.3 

Transportation & Postal Industry

   2,628.9    28.5    (18.8  19.9   2,647.7    8.5 

Wholesale & Retail

   5,154.8    142.1    60.8   4.0   5,093.9    138.0 

Finance & Insurance

   8,477.4    15.3    (743.9  (9.3  9,221.3    24.7 

Real Estate

   9,704.8    36.5    77.1   (3.5  9,627.6    40.0 

Commodity Lease

   2,921.0    1.4    (145.0  (0.0  3,066.0    1.4 

Service Industries

   3,083.2    153.4    (258.6  15.0   3,341.8    138.4 

Local Governments

   642.8    —      (33.3  —     676.2    —   

Governments

   955.5    —      (268.1  —     1,223.6    —   

Other

   10,762.1    82.7    (294.3  (16.6  11,056.5    99.3 

Overseas Total (including Loans Booked Offshore)

   23,833.0    49.2    (107.2  (20.4  23,940.2    69.6 

Governments

   169.7    —      (55.4  —     225.1    —   

Financial Institutions

   8,770.6    —      90.3   —     8,680.3    —   

Other

   14,892.5    49.2    (142.2  (20.4  15,034.7    69.6 
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 

Total

   83,771.7    755.5    (2,212.8  5.9   85,984.5    749.5 
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 

 

*

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

As of September 30, 2021:

 ¥590.0 billion (from MHBK)

As of March 31, 2021:

 ¥850.0 billion (from MHBK)
*

Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts, and amounts of Non-Accrual, Past Due & Restructured Loans are the aggregate figures for banking and trust accounts with contracts indemnifying the principal amounts.

 

2-29


Mizuho Financial Group, Inc.

 

   (Billions of yen) 
   As of September 30, 2021  As of March 31, 2021 
   Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
   Change  Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
 
   Outstanding
Balance
  Non-Accrual,
Past Due &
Restructured
Loans
 
Mizuho Bank 

Domestic Total (excluding Loans Booked Offshore)

   56,248.2    699.9    (1,886.7  27.2   58,134.9    672.7 

Manufacturing

   10,033.6    228.8    (421.1  19.6   10,454.8    209.1 

Agriculture & Forestry

   47.7    0.7    (2.8  (0.0  50.6    0.7 

Fishery

   2.5    0.3    0.2   (0.0  2.2    0.3 

Mining, Quarrying Industry & Gravel Extraction Industry

   224.2    0.2    (89.8  0.1   314.1    0.1 

Construction

   667.5    5.0    (24.9  (0.2  692.4    5.2 

Utilities

   2,606.8    1.1    37.4   (0.9  2,569.4    2.1 

Communication

   1,177.8    9.4    40.3   0.0   1,137.4    9.3 

Transportation & Postal Industry

   2,451.9    28.5    6.8   19.9   2,445.1    8.5 

Wholesale & Retail

   5,027.1    141.1    79.6   3.0   4,947.4    138.0 

Finance & Insurance

   7,973.9    15.3    (761.9  (9.3  8,735.8    24.7 

Real Estate

   8,317.5    33.6    73.3   (3.4  8,244.1    37.1 

Commodity Lease

   2,709.9    1.4    (146.8  (0.0  2,856.8    1.4 

Service Industries

   3,034.3    152.9    (253.2  15.0   3,287.6    137.9 

Local Governments

   640.6    —      (32.8  —     673.5    —   

Governments

   955.5    —      (132.3  —     1,087.9    —   

Other

   10,376.7    81.0    (258.5  (16.5  10,635.3    97.5 

Overseas Total (including Loans Booked Offshore)

   23,832.5    49.2    (107.0  (20.4  23,939.6    69.6 

Governments

   169.7    —      (55.4  —     225.1    —   

Financial Institutions

   8,770.6    —      90.3   —     8,680.3    —   

Other

   14,892.1    49.2    (142.0  (20.4  15,034.1    69.6 
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 

Total

   80,080.8    749.1    (1,993.7  6.7   82,074.5    742.4 
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 
Mizuho Trust & Banking (Banking Account + Trust Account) 

Domestic Total (excluding Loans Booked Offshore)

   3,690.4    6.3    (218.8  (0.8  3,909.3    7.1 

Manufacturing

   428.4    0.2    (31.3  (1.7  459.7    1.9 

Agriculture & Forestry

   0.0    —      (0.0  —     0.0    —   

Fishery

   —      —      —     —     —      —   

Mining, Quarrying Industry & Gravel Extraction Industry

   1.5    —      (0.1  —     1.7    —   

Construction

   41.2    —      5.5   —     35.7    —   

Utilities

   283.3    —      0.1   —     283.2    —   

Communication

   92.6    —      5.1   —     87.5    —   

Transportation & Postal Industry

   176.9    —      (25.7  —     202.6    —   

Wholesale & Retail

   127.7    0.9    (18.7  0.9   146.4    —   

Finance & Insurance

   503.4    —      17.9   —     485.5    —   

Real Estate

   1,387.2    2.9    3.8   (0.0  1,383.4    2.9 

Commodity Lease

   211.0    —      1.8   —     209.2    —   

Service Industries

   48.8    0.5    (5.3  0.0   54.2    0.5 

Local Governments

   2.2    —      (0.4  —     2.7    —   

Governments

   —      —      (135.7  —     135.7    —   

Other

   385.3    1.6    (35.7  (0.0  421.1    1.7 

Overseas Total (including Loans Booked Offshore)

   0.4    —      (0.2  —     0.6    —   

Governments

   —      —      —     —     —      —   

Financial Institutions

   —      —      —     —     —      —   

Other

   0.4    —      (0.2  —     0.6    —   
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 

Total

   3,690.8    6.3    (219.1  (0.8  3,909.9    7.1 
  

 

 

   

 

 

   

 

 

  

 

 

  

 

 

   

 

 

 

 

*

Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts, and amounts of Non-Accrual, Past Due & Restructured Loans are the aggregate figures for banking and trust accounts with contracts indemnifying the principal amounts.

 

2-30


Mizuho Financial Group, Inc.

 

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

Non-Consolidated

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

 

   (Billions of yen, %) 
   As of September 30, 2021   As of March 31, 2021 
           Change         
  Non Performing
Loans basaed on

the FRA
   Coverage
Ratio
   Non Performing
Loans basaed on

the FRA
  Coverage
Ratio
   Non Performing
Loans basaed on
the FRA
   Coverage
Ratio
 

Domestic Total (excluding Loans Booked Offshore)

   722.3    63.6    21.3   (2.6   700.9    66.3 

Manufacturing

   238.9    53.7    13.7   (1.9   225.1    55.6 

Agriculture & Forestry

   0.7    52.3    (0.0  (1.1   0.7    53.4 

Fishery

   0.3    62.6    (0.0  0.0    0.3    62.6 

Mining, Quarrying Industry & Gravel Extraction Industry

   0.2    90.4    0.1   11.4    0.1    78.9 

Construction

   5.2    81.8    (0.2  5.5    5.5    76.3 

Utilities

   1.1    52.0    (0.9  (19.8   2.1    71.8 

Communication

   9.7    73.3    0.0   (0.4   9.7    73.7 

Transportation & Postal Industry

   28.6    48.3    19.9   (20.8   8.7    69.1 

Wholesale & Retail

   144.2    56.2    4.6   (0.5   139.6    56.8 

Finance & Insurance

   15.3    74.0    (9.7  (8.4   25.1    82.5 

Real Estate

   37.0    86.2    (3.5  (2.6   40.5    88.8 

Commodity Lease

   1.4    79.7    (0.0  (10.8   1.4    90.6 

Service Industries

   156.3    66.2    14.2   (0.5   142.0    66.7 

Local Governments

   —      —      —     —      —      —   

Other

   82.7    91.6    (16.6  3.7    99.4    87.9 

Overseas Total (including Loans Booked Offshore)

   66.9    78.9    (24.8  (2.4   91.8    81.3 

Governments

   —      —      —     —      —      —   

Financial Institutions

   —      —      —     —      —      —   

Other

   66.9    78.9    (24.8  (2.4   91.8    81.3 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

Total

   789.2    64.9    (3.5  (3.0   792.7    68.0 
  

 

 

   

 

 

   

 

 

  

 

 

   

 

 

   

 

 

 

 

*

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

 

2-31


Mizuho Financial Group, Inc.

 

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

(1) Balance of Housing and Consumer Loans

Non-Consolidated

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

 

   (Billions of yen) 
   As of
September 30,
2021
      As of
March 31,
2021
 
   Change 

Housing and Consumer Loans

   8,599.0    (163.7  8,762.8 

Housing Loans for owner’s residential housing

   8,003.0    (122.5  8,125.6 

Mizuho Bank

     

Housing and Consumer Loans

   8,541.4    (159.1  8,700.5 

Housing Loans

   8,099.1    (132.9  8,232.0 

for owner’s residential housing

   7,949.2    (118.4  8,067.6 

Consumer loans

   442.2    (26.2  468.4 

Mizuho Trust & Banking (Banking Account + Trust Account)

     

Housing and Consumer Loans

   57.6    (4.6  62.2 

Housing Loans for owner’s residential housing

   53.8    (4.1  57.9 

 

*  Above figures are aggregate banking and trust account amounts.

     

(2) Loans to SMEs and Individual Customers

 

Non-Consolidated

 

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

 

   (%, Billions of yen) 
   As of
September 30,
2021
      As of
March 31,
2021
 
   Change 

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

   57.3    (0.0  57.3 

Loans to SMEs and Individual Customers

   34,362.8    (1,238.2  35,601.0 

Mizuho Bank

     

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

   57.7    (0.2  57.9 

Loans to SMEs and Individual Customers

   32,470.1    (1,208.6  33,678.8 

Mizuho Trust & Banking (Banking Account + Trust Account)

     

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

   51.2    2.1   49.1 

Loans to SMEs and Individual Customers

   1,892.6    (29.6  1,922.2 

 

*

Above figures are aggregate banking and trust account amounts.

 

*

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

 

*

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

 

     

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

 

2-32


Mizuho Financial Group, Inc.

 

10. Status of Loans by Region

Non-Consolidated

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

 

   (Billions of yen) 
   As of September 30, 2021  As of March 31, 2021 
       Non-Accrual,
Past Due &
Restructured
Loans
   Change      Non-Accrual,
Past Due &
Restructured
Loans
 
  Outstanding
Balance
   Outstanding
Balance
  Non-Accrual,
Past Due &
Restructured
Loans
  Outstanding
Balance
 

Asia

   7,338.8    29.7    21.8   (2.5  7,317.0    32.3 

Hong Kong

   1,903.9    0.4    (11.3  0.1   1,915.3    0.3 

Singapore

   1,012.4    27.6    (113.4  0.0   1,125.9    27.6 

Thailand

   1,039.6    0.2    (42.5  (0.2  1,082.2    0.5 

Taiwan

   1,121.6    0.1    274.7   0.0   846.8    0.0 

India

   489.3    0.2    10.2   (2.4  479.0    2.7 

South Korea

   545.9    0.0    2.1   0.0   543.8    0.0 

Indonesia

   355.6    0.9    (66.7  0.0   422.3    0.9 

Philippines

   279.7    0.0    (13.6  (0.0  293.3    0.0 

China

   157.4    —      (39.7  —     197.2    —   

Malaysia

   103.6    —      (9.3  —     113.0    —   

Central and South America

   4,945.7    16.4    (171.7  (6.8  5,117.4    23.2 

Mexico

   317.0    0.8    (27.7  (0.0  344.7    0.8 

Brazile

   174.2    4.0    (2.9  (0.7  177.1    4.8 

North America

   7,714.0    10.1    238.4   (23.5  7,475.6    33.6 

United States

   6,920.8    10.1    367.3   (11.5  6,553.4    21.6 

Eastern Europe

   288.3    —      (2.1  —     290.4    —   

Russia

   217.7    —      5.8   —     211.8    —   

Western Europe

   3,927.4    27.9    (235.5  9.9   4,162.9    18.0 

United Kingdom

   1,151.3    6.4    (24.6  (1.1  1,176.0    7.5 

Netherlands

   918.2    —      (55.4  —     973.7    —   

Germany

   416.0    —      (93.1  (4.9  509.1    4.9 

Ireland

   342.4    21.4    34.1   21.4   308.3    —   

Switzerland

   149.7    0.0    (15.2  0.0   165.0    —   

France

   173.0    —      (42.5  —     215.6    —   

Turkey

   84.8    —      (10.4  —     95.2    —   

Italy

   112.9    —      (30.0  —     142.9    —   

Other

   2,918.7    8.3    (226.8  3.8   3,145.6    4.5 

Australia

   1,577.7    —      (55.1  —     1,632.8    —   

Total

   27,133.1    92.7    (376.0  (19.1  27,509.1    111.8 

 

The above figures are based on obligor country of location.

 

 

The outstanding balance of loans and Non-Accrual, Past Due & Restructured Loans in major banking subsidiaries outside Japan is as follows.

 

   As of September 30, 2021  As of March 31, 2021 
           Change        
   Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
   Outstanding
Balance
  Non-Accrual,
Past Due &
Restructured
Loans
  Outstanding
Balance
   Non-Accrual,
Past Due &
Restructured
Loans
 

Mizuho Bank (China) ,Ltd

   1,147.9    1.4    34.8   0.4   1,113.0    1.0 

Mizuho Bank (USA)

   464.9    2.9    70.6   0.1   394.2    2.7 

PT. Bank Mizuho Indonesia

   289.7    1.2    (24.9  (1.7  314.7    3.0 

 

2-33


Mizuho Financial Group, Inc.

 

III. DEFERRED TAXES

1. Estimation for Calculating Deferred Tax Assets

Non-Consolidated

Mizuho Bank

1. Estimate of future taxable income

 

       (Billions of yen) 
       Total amount for
five years

(from October 1, 2021
to
September 30, 2026)
 

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

   1    3,233.8 

Income before Income Taxes

   2    3,466.3 

Tax Adjustments (1)

   3    180.1 

Taxable Income before Current Deductible Temporary Differences (2)

   4    3,646.4 

Effective Statutory Tax Rate

   5    30.62% 

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

   6    1,116.5 

 

(1)

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

(2)

Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2021.

 

Reference: Past results of taxable income (tax loss)

 

  
   (Billions of yen) 

Fiscal 2017

   379.9 

Fiscal 2018

   267.2 

Fiscal 2019

   378.5 

Fiscal 2020

   316.3 

First Half of Fiscal 2021 (estimate)

   186.0 

 

*

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

*

Figure for the first half of fiscal 2021 is an estimate of taxable income.

2. Breakdown of Deferred Tax Assets

 

       (Billions of yen) 
       As of
September 30,
2021
  Change  As of
March 31,
2021
 

Reserves for Possible Losses on Loans

   7    190.6   4.3   186.2 

Impairment of Securities

   8    122.5   (3.6  126.2 

Net Unrealized Losses on Other Securities

   9    9.7   (1.0  10.7 

Reserve for Employee Retirement Benefits

   10    —     —     —   

Depreciation and Impairment

   11    132.5   (13.9  146.5 

Net Deferred Hedge Losses

   12    4.7   4.7   —   

Tax Losses Carried Forward

   13    —     —     —   

Other

   14    214.4   (17.3  231.7 
    

 

 

  

 

 

  

 

 

 

Total Deferred Tax Assets

   15    674.7   (26.9  701.6 
    

 

 

  

 

 

  

 

 

 

Valuation Allowance

   16    (133.6  2.1   (135.7
    

 

 

  

 

 

  

 

 

 

Sub-Total [ 15 + 16 ]

   17    541.0   (24.7  565.8 
    

 

 

  

 

 

  

 

 

 

Amount related to Retirement Benefits Accounting

   18    (142.2  18.2   (160.5

Net Unrealized Gains on Other Securities

   19    (405.6  (8.8  (396.8

Net Deferred Hedge Gains

   20    —     10.8   (10.8

Other

   21    (49.3  (12.9  (36.3
    

 

 

  

 

 

  

 

 

 

Total Deferred Tax Liabilities

   22    (597.2  7.3   (604.5
    

 

 

  

 

 

  

 

 

 

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

   23    (56.1  (17.4  (38.7

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

   24    (407.0  (7.2  (399.7

Tax effects related to Net Deferred Hedge Losses (Gains)

   25    4.7   15.6   (10.8

Tax effects related to others

   26    346.0   (25.8  371.8 

 

*

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

 

 

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

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

 

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

 

2-34


Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking

1. Estimate of future taxable income

 

      (Billions of yen) 
      Total amount for
five years
(from October 1, 2021
to
September 30, 2026)
 

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

   1   215.4 

Income before Income Taxes

   2   227.7 

Tax Adjustments (1)

   3   (41.7

Taxable Income before Current Deductible Temporary Differences (2)

   4   186.0 

Effective Statutory Tax Rate

   5   30.62% 

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

   6   56.9 

 

(1)

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

(2)

Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2021.

 

Reference: Past results of taxable income (tax loss)

 

  
   (Billions of yen) 

Fiscal 2017

   40.5 

Fiscal 2018

   39.0 

Fiscal 2019

   31.7 

Fiscal 2020

   26.6 

First Half of Fiscal 2021 (estimate)

   14.0 

 

*

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

*

Figure for the first half of fiscal 2021 is an estimate of taxable income.

2. Breakdown of Deferred Tax Assets

 

      (Billions of yen) 
      As of
September 30,
2021
  Change  As of
March 31,
2021
 

Reserves for Possible Losses on Loans

   7   1.2   (0.0  1.3 

Impairment of Securities

   8   8.1   (0.8  9.0 

Net Unrealized Losses on Other Securities

   9   0.4   0.1   0.2 

Reserve for Employee Retirement Benefits (1)

   10   2.0   2.0   0.0 

Reserve for Loss of Transfer

   11   1.3   (0.1  1.4 

Net Deferred Hedge Losses

   12   2.0   0.9   1.1 

Tax Losses Carried Forward

   13   —     —     —   

Other (2)

   14   17.4   (2.9  20.4 
   

 

 

  

 

 

  

 

 

 

Total Deferred Tax Assets

   15   32.8   (0.9  33.7 
   

 

 

  

 

 

  

 

 

 

Valuation Allowance

   16   (8.9  0.6   (9.6
   

 

 

  

 

 

  

 

 

 

Sub-Total [ 15 + 16 ]

   17   23.8   (0.2  24.0 
   

 

 

  

 

 

  

 

 

 

Amount related to Retirement Benefits Accounting (3)

   18   (19.3  0.8   (20.1

Net Unrealized Gains on Other Securities

   19   (19.7  (0.7  (18.9

Net Deferred Hedge Gains

   20   —     —     —   

Other

   21   (2.9  (2.6  (0.3
   

 

 

  

 

 

  

 

 

 

Total Deferred Tax Liabilities

   22   (42.0  (2.5  (39.5
   

 

 

  

 

 

  

 

 

 

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

   23   (18.2  (2.7  (15.5

Tax effects related to Net Unrealized Losses (Gains) on Other Securities (4)

   24   (19.4  (0.4  (18.9

Tax effects related to Net Deferred Hedge Losses (Gains)

   25   2.0   0.9   1.1 

Tax effects related to others

   26   (0.9  (3.2  2.3 

 

(1,2,3)

The presentation of “Reserve for Employee Retirement Benefits”, “Other” and “Amount related to Retirement Benefits Accounting” has been changed from this fiscal year. In order to reflect the change in presentation of the financial statements, “ Reserve for Employee Retirement Benefits “ of ¥3.1 billion, “Other” of ¥5.1 billion and “Amount related to Retirement Benefits Accounting” of ¥(7.9) billion presented in the statements for the previous fiscal year have been reclassified as “ Reserve for Employee Retirement Benefits “ of ¥0 billion, “Other” of ¥20.4 billion and “Amount related to Retirement Benefits Accounting” of ¥(20.1) billion.

(4)

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

 

 

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

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

 

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

 

2-35


Mizuho Financial Group, Inc.

 

IV. OTHERS

1. Breakdown of Deposits (Domestic Offices)

Non-Consolidated

Aggregate Figures for the 2 Banks

 

   (Billions of yen) 
   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Deposits

   107,624.9    (3,418.3  111,043.3 
  

 

 

   

 

 

  

 

 

 

Individual Deposits

   47,702.7    381.1   47,321.6 

Corporate Deposits

   51,794.3    (2,798.4  54,592.7 

Financial/Government Institutions

   8,127.7    (1,001.1  9,128.8 
Mizuho Bank     

Deposits

   104,960.2    (3,203.1  108,163.3 
  

 

 

   

 

 

  

 

 

 

Individual Deposits

   46,870.1    378.6   46,491.5 

Corporate Deposits

   50,620.0    (2,653.9  53,273.9 

Financial/Government Institutions

   7,469.9    (927.8  8,397.8 
Mizuho Trust & Banking     

Deposits

   2,664.7    (215.2  2,879.9 
  

 

 

   

 

 

  

 

 

 

Individual Deposits

   832.6    2.4   830.1 

Corporate Deposits

   1,174.3    (144.4  1,318.8 

Financial/Government Institutions

   657.7    (73.2  731.0 

 

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

 

2-36


Mizuho Financial Group, Inc.

 

2. Number of Directors and Employees

(1) Number of Directors

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

 

   As of
September 30,
2021
   Change  As of
March 31,
2021
 

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

   47    2   45 

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

   42    (75  117 

 

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

 

(2) Number of Employees

 

Consolidated

 

 

 

   As of
September 30,
2021
   Change  As of
March 31,
2021
 

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

   53,952    (540  54,492 

Average number of temporary employees

   14,277    (1,032  15,309 

 

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

 

3. Number of Offices

 

Domestic: The 2 Banks and Mizuho Securities

 

 

 

 

   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Mizuho Bank

   461    (2  463 

Mizuho Trust & Banking

   60    —     60 

Mizuho Securities

   237    (1  238 

 

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

 

Overseas: The 2 Banks and Mizuho Securities

 

 

 

   As of
September 30,
2021
   Change  As of
March 31,
2021
 

Mizuho Bank

   49    —     49 

Mizuho Trust & Banking

   —      —     —   

Mizuho Securities

   2    —     2 

 

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

 

 

2-37


Mizuho Financial Group, Inc.

 

4. Earnings Plan for Fiscal 2021

Consolidated

 

   (Billions of yen) 
   Fiscal 2021 

Ordinary Profits

   690.0 

Profit Attributable to Owners of Parent

   530.0 

Non-Consolidated

Mizuho Bank, Mizuho Trust & Banking

 

   (Billions of yen) 
   Fiscal 2021 
   Aggregate Figures
for the 2 Banks
  MHBK  MHTB* 

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

   580.0   545.0   35.0 

Ordinary Profits

   475.0   435.0   40.0 

Net Income

   280.0   245.0   35.0 

Credit-related Costs

   (90.0  (85.0  (5.0

 

*

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

Note: Following the results from 1H, MHFG revised Earnings Plan for Fiscal 2021.

Consolidated

Ordinary Profits:

The latest previously announced estimates: ¥720.0 billion, Revised estimates: ¥690.0 billion, Changes from the original estimates: ¥(30.0) billion, (4.1)%

Profit Attributable to Owners of Parent:

The latest previously announced estimates: ¥510.0 billion, Revised estimates: ¥530.0 billion, Changes from the original estimates: ¥20.0 billion, 3.9%

Non-Consolidated

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

The latest previously announced estimates: ¥590.0 billion, Revised estimates: ¥580.0 billion, Changes from the original estimates: ¥(10.0) billion, (1.6)%

Ordinary Profits:

The latest previously announced estimates: ¥540.0 billion, Revised estimates: ¥475.0 billion, Changes from the original estimates: ¥(65.0) billion, (12.0)%

Net Income:

The latest previously announced estimates: ¥375.0 billion, Revised estimates: ¥280.0 billion, Changes from the original estimates: ¥(95.0) billion, (25.3)%

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

 

2-38


Mizuho Bank, Ltd.

 

Attachments

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

 

   Millions of yen 
   As of September 30,
2021 (A)
  As of March 31,
2021 (B)
  Change
(A) -  (B)
 

Assets

    

Cash and Due from Banks

  ¥43,993,613  ¥45,460,471  ¥(1,466,858

Call Loans

   748,154   967,504   (219,350

Receivables under Resale Agreements

   7,867,773   2,376,420   5,491,353 

Guarantee Deposits Paid under Securities Borrowing Transactions

   151,967   151,282   685 

Other Debt Purchased

   470,267   482,837   (12,569

Trading Assets

   4,007,832   4,655,665   (647,833

Money Held in Trust

   503   503   0 

Securities

   43,636,219   43,720,657   (84,438

Loans and Bills Discounted

   80,080,848   82,074,591   (1,993,742

Foreign Exchange Assets

   2,138,323   2,016,766   121,557 

Derivatives other than for Trading

   3,290,700   3,998,530   (707,829

Other Assets

   4,191,028   4,920,054   (729,025

Tangible Fixed Assets

   866,226   881,564   (15,337

Intangible Fixed Assets

   352,293   360,296   (8,003

Prepaid Pension Cost

   464,578   524,167   (59,589

Customers’ Liabilities for Acceptances and Guarantees

   7,333,353   6,828,085   505,267 

Reserves for Possible Losses on Loans

   (556,219  (536,101  (20,118
  

 

 

  

 

 

  

 

 

 

Total Assets

  ¥199,037,466  ¥198,883,298  ¥154,167 
  

 

 

  

 

 

  

 

 

 

Liabilities

    

Deposits

  ¥124,153,095  ¥128,279,005  ¥(4,125,910

Negotiable Certificates of Deposit

   18,476,561   16,684,774   1,791,787 

Call Money

   1,065,799   1,061,104   4,694 

Payables under Repurchase Agreements

   11,668,064   8,760,834   2,907,230 

Guarantee Deposits Received under Securities Lending Transactions

   268,420   170,648   97,771 

Commercial Paper

   1,969,424   2,105,067   (135,643

Trading Liabilities

   2,580,677   3,255,476   (674,798

Borrowed Money

   15,372,230   15,084,290   287,939 

Foreign Exchange Liabilities

   684,472   717,422   (32,950

Bonds and Notes

   841,616   911,779   (70,162

Derivatives other than for Trading

   3,365,770   4,016,868   (651,098

Other Liabilities

   3,719,473   3,448,928   270,545 

Reserve for Bonus Payments

   12,282   25,042   (12,760

Reserve for Variable Compensation

   308   983   (674

Reserve for Possible Losses on Sales of Loans

   181   1,074   (893

Reserve for Contingencies

   2,815   3,092   (277

Reserve for Reimbursement of Deposits

   18,537   20,540   (2,003

Reserve for Reimbursement of Debentures

   12,157   14,419   (2,261

Deferred Tax Liabilities

   56,170   38,723   17,447 

Deferred Tax Liabilities for Revaluation Reserve for Land

   61,436   61,915   (479

Acceptances and Guarantees

   7,333,353   6,828,085   505,267 
  

 

 

  

 

 

  

 

 

 

Total Liabilities

   191,662,849   191,490,080   172,769 
  

 

 

  

 

 

  

 

 

 

Net Assets

    

Common Stock and Preferred Stock

   1,404,065   1,404,065   —   

Capital Surplus

   2,286,167   2,286,167   —   

Capital Reserve

   655,450   655,450   —   

Other Capital Surplus

   1,630,716   1,630,716   —   

Retained Earnings

   2,508,993   2,514,003   (5,010

Appropriated Reserve

   389,012   353,908   35,103 

Other Retained Earnings

   2,119,980   2,160,095   (40,114

Retained Earnings Brought Forward

   2,119,980   2,160,095   (40,114
  

 

 

  

 

 

  

 

 

 

Total Shareholders’ Equity

   6,199,225   6,204,236   (5,010
  

 

 

  

 

 

  

 

 

 

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

   1,040,601   1,023,139   17,462 

Net Deferred Hedge Gains (Losses), net of Taxes

   (508  29,458   (29,967

Revaluation Reserve for Land, net of Taxes

   135,297   136,384   (1,086
  

 

 

  

 

 

  

 

 

 

Total Valuation and Translation Adjustments

   1,175,391   1,188,982   (13,590
  

 

 

  

 

 

  

 

 

 

Total Net Assets

   7,374,616   7,393,218   (18,601
  

 

 

  

 

 

  

 

 

 

Total Liabilities and Net Assets

  ¥199,037,466  ¥198,883,298  ¥154,167 
  

 

 

  

 

 

  

 

 

 

 

2-39


Mizuho Bank, Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK

 

   Millions of yen 
   For the six months
ended
September 30, 2021
(A)
   For the six months
ended

September 30, 2020
(B)
   Change
(A) - (B)
 

Ordinary Income

  ¥1,011,425   ¥1,046,419   ¥(34,994

Interest Income

   530,212    593,571    (63,358

Interest on Loans and Bills Discounted

   372,420    431,238    (58,818

Interest and Dividends on Securities

   111,191    112,486    (1,295

Fee and Commission Income

   247,688    249,820    (2,131

Trading Income

   39,994    73,501    (33,506

Other Operating Income

   70,736    92,307    (21,570

Other Ordinary Income

   122,792    37,219    85,572 
  

 

 

   

 

 

   

 

 

 

Ordinary Expenses

   766,564