6-K 1 d217752d6k.htm FORM 6-K Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 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NO. 333-233354) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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:   July 30, 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 First Quarter of Fiscal 2021

(Under Japanese GAAP)

          LOGO

 

Company Name:    Mizuho Financial Group, Inc. (“MHFG”)    July 30, 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):    August 13, 2021  

Trading Accounts:    

   Established
Commencement of Dividend Payment (scheduled):    —    
Supplementary Materials on Quarterly Results:    Attached    
IR Conference on Quarterly Results:    Scheduled    

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2021 (for the three months ended June 30, 2021)

(1) Consolidated Results of Operations

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

 

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

1Q F2021

      737,009        (11.8 )      218,757        24.7       250,541        104.7  

1Q F2020

      835,835        (15.4 )      175,421        (20.2 )      122,375        (24.6 ) 

 

Note:  

Comprehensive Income:

1Q F2021: ¥204,730 million, 6.2%; 1Q F2020: ¥192,626 million, 104.2 %

 

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

1Q F2021

      98.81        98.81  

1Q F2020

      48.25        48.25  

 

Note:   MHFG adopted the share consolidation of the shares of common stock on the basis of one post-consolidation share per ten pre-consolidation shares effective as of October 1, 2020.
  The impact from 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      %  

1Q F2021

      226,889,093        9,464,209        4.1  

Fiscal 2020

      225,586,211        9,362,207        4.1  

 

Reference:  

Own Capital:

As of June 30, 2021: ¥ 9,350,232 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

     —            

Fiscal 2021 (estimate)

       37.50       —         37.50       75.00  
Notes:    1.    Revision of the latest announced estimates for cash dividends for shareholders of common stock : No
   2.   

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

The impact from 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.

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

Fiscal 2021 H1

                                                              —          —         —    

Fiscal 2021

            510,000            8.2         201.06  
Notes:    1.    Revision of the latest announced earnings estimates for fiscal 2021: No
   2.    The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares during 1Q and the number of outstanding shares as of June 30, 2021 (which is used as a proxy for the average number of outstanding shares during 2Q-4Q).

Notes

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

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

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

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

ii Changes in accounting policies other than i above: No

iii Changes in accounting estimates: No

iv Restatements: No

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

(4) Issued Shares of Common Stock

 

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

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

ii  Period-end treasury stock:

   As of June 30, 2021       3,917,816 shares       As of March 31, 2021       3,889,782 shares    

iii  Average outstanding shares (first quarter):

   1Q Fiscal 2021       2,535,338,709 shares       1Q Fiscal 2020       2,536,083,528 shares    

 

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

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

 

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

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

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

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

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

 

Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1.   Matters Related to Summary Information (Notes)    p.1-2
  (1) Changes in Accounting Policies and Accounting Estimates / Restatements    p.1-2
2.   Quarterly Consolidated Financial Statements and Others    p.1-3
  (1) Consolidated Balance Sheets    p.1-3
  (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income    p.1-5
  (3) Note for Assumption of Going Concern    p.1-7
  (4) Note for Significant Changes in the Amount of Shareholders’ Equity    p.1-7
  ø SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 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.

 

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 first quarter ended June 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, Retained Earnings decreased by ¥724 million as of April 1, 2021. The impact on the quarterly consolidated statement of income for the fiscal quarter ended June 30, 2021 is immaterial.

 

1-2

Mizuho Financial Group, Inc.

 

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

 

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

Assets

     

Cash and Due from Banks

    ¥ 47,981,981     ¥ 42,323,448  

Call Loans and Bills Purchased

      589,776       385,421  

Receivables under Resale Agreements

      11,623,654       17,887,877  

Guarantee Deposits Paid under Securities Borrowing Transactions

      2,707,711       1,941,493  

Other Debt Purchased

      3,208,004       3,486,436  

Trading Assets

      12,589,294       13,910,770  

Money Held in Trust

      582,368       558,924  

Securities

      43,697,262       47,167,479  

Loans and Bills Discounted

      83,704,675       82,631,430  

Foreign Exchange Assets

      2,084,756       2,042,770  

Derivatives other than for Trading Assets

      1,719,349       1,335,646  

Other Assets

      6,174,020       4,105,801  

Tangible Fixed Assets

      1,135,449       1,127,636  

Intangible Fixed Assets

      620,224       609,925  

Net Defined Benefit Asset

      1,109,107       1,022,476  

Deferred Tax Assets

      31,402       27,243  

Customers’ Liabilities for Acceptances and Guarantees

      6,602,744       6,867,903  

Reserves for Possible Losses on Loans

      (575,572 )      (543,592 ) 

Reserve for Possible Losses on Investments

      (0 )      (0 ) 
  

 

 

    

 

 

  

Total Assets

    ¥ 225,586,211     ¥ 226,889,093  
  

 

 

    

 

 

  

 

1-3

Mizuho Financial Group, Inc.

 

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

Liabilities

     

Deposits

    ¥ 133,312,406     ¥ 129,957,640  

Negotiable Certificates of Deposit

      17,192,572       19,681,826  

Call Money and Bills Sold

      1,312,790       1,219,870  

Payables under Repurchase Agreements

      18,607,255       22,193,696  

Guarantee Deposits Received under Securities Lending Transactions

      958,148       842,186  

Commercial Paper

      2,105,067       1,924,183  

Trading Liabilities

      8,115,377       7,576,190  

Borrowed Money

      7,441,822       7,394,138  

Foreign Exchange Liabilities

      532,042       505,906  

Short-term Bonds

      456,045       488,507  

Bonds and Notes

      10,321,672       10,364,435  

Due to Trust Accounts

      1,160,608       1,155,350  

Derivatives other than for Trading Liabilities

      1,739,671       1,330,630  

Other Liabilities

      5,862,013       5,581,521  

Reserve for Bonus Payments

      104,131       23,211  

Reserve for Variable Compensation

      2,935       3,560  

Net Defined Benefit Liability

      71,049       71,270  

Reserve for Director and Corporate Auditor Retirement Benefits

      683       495  

Reserve for Possible Losses on Sales of Loans

      1,074       911  

Reserve for Contingencies

      6,762       7,815  

Reserve for Reimbursement of Deposits

      22,099       20,887  

Reserve for Reimbursement of Debentures

      14,419       13,550  

Reserves under Special Laws

      3,135       3,127  

Deferred Tax Liabilities

      215,557       134,619  

Deferred Tax Liabilities for Revaluation Reserve for Land

      61,915       61,445  

Acceptances and Guarantees

      6,602,744       6,867,903  
  

 

 

    

 

 

  

Total Liabilities

    ¥ 216,224,003     ¥ 217,424,884  
  

 

 

    

 

 

  

Net Assets

     

Common Stock

    ¥ 2,256,767     ¥ 2,256,767  

Capital Surplus

      1,135,940       1,125,324  

Retained Earnings

      4,421,655       4,577,306  

Treasury Stock

      (7,124 )      (7,154 ) 
  

 

 

    

 

 

  

Total Shareholders’ Equity

      7,807,239       7,952,243  
  

 

 

    

 

 

  

Net Unrealized Gains (Losses) on Other Securities

      1,132,460       1,076,695  

Deferred Gains or Losses on Hedges

      31,618       22,890  

Revaluation Reserve for Land

      136,384       135,318  

Foreign Currency Translation Adjustments

      (139,514 )      (92,486 ) 

Remeasurements of Defined Benefit Plans

      288,088       255,570  
  

 

 

    

 

 

  

Total Accumulated Other Comprehensive Income

      1,449,035       1,397,988  
  

 

 

    

 

 

  

Stock Acquisition Rights

      134       114  

Non-controlling Interests

      105,797       113,861  
  

 

 

    

 

 

  

Total Net Assets

      9,362,207       9,464,209  
  

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥ 225,586,211     ¥ 226,889,093  
  

 

 

    

 

 

  

 

1-4

Mizuho Financial Group, Inc.

 

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

Consolidated Statements of Income

 

     Millions of yen  
     For the three
months ended
June 30, 2020		      For the three
months ended
June 30, 2021		  

Ordinary Income

    ¥ 835,835      ¥ 737,009  

Interest Income

      366,276        293,342  

Interest on Loans and Bills Discounted

      262,715        210,675  

Interest and Dividends on Securities

      59,632        46,524  

Fiduciary Income

      13,333        14,997  

Fee and Commission Income

      196,531        196,859  

Trading Income

      139,198        103,004   

Other Operating Income

      87,768        55,348  

Other Ordinary Income

      32,726        73,458  

Ordinary Expenses

      660,414        518,251  

Interest Expenses

      151,175        70,470  

Interest on Deposits

      55,515        14,464  

Fee and Commission Expenses

      39,728        39,405  

Trading Expenses

      1,390        128  

Other Operating Expenses

      41,257        26,394  

General and Administrative Expenses

      340,468        335,331  

Other Ordinary Expenses

      86,394        46,521  
  

 

 

     

 

 

  

Ordinary Profits

      175,421        218,757  
  

 

 

     

 

 

  

Extraordinary Gains

      2,834        28,954  

Extraordinary Losses

      2,164        1,530  
  

 

 

     

 

 

  

Income before Income Taxes

      176,092        246,181  
  

 

 

     

 

 

  

Income Taxes:

      

Current

      48,588        32,687  

Deferred

      4,955        (39,393 ) 
  

 

 

     

 

 

  

Total Income Taxes

      53,544        (6,705 ) 
  

 

 

     

 

 

  

Profit

      122,547        252,887  
  

 

 

     

 

 

  

Profit Attributable to Non-controlling Interests

      172        2,345  
  

 

 

     

 

 

  

Profit Attributable to Owners of Parent

    ¥ 122,375      ¥ 250,541  
  

 

 

     

 

 

  

 

1-5

Mizuho Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

     Millions of yen  
     For the three
months ended
June 30, 2020		     For the three
months ended
June 30, 2021		  

Profit

    ¥ 122,547     ¥ 252,887  

Other Comprehensive Income

      70,078       (48,156 ) 

Net Unrealized Gains (Losses) on Other Securities

      131,007       (53,348 ) 

Deferred Gains or Losses on Hedges

      (9,414 )      (8,635 ) 

Foreign Currency Translation Adjustments

      (45,327 )      38,509  

Remeasurements of Defined Benefit Plans

      (4,376 )      (32,036 ) 

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

      (1,811 )      7,353  
  

 

 

    

 

 

  

Comprehensive Income

      192,626       204,730  
  

 

 

    

 

 

  

(Breakdown)

     

Comprehensive Income Attributable to Owners of Parent

      195,229       200,559  

Comprehensive Income Attributable to Non-controlling Interests

      (2,602 )      4,170  

 

1-6

Mizuho Financial Group, Inc.

 

(3) Note for Assumption of Going Concern

There is no applicable information.

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

There is no applicable information.

 

1-7

SELECTED FINANCIAL INFORMATION

For the First Quarter of Fiscal 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 Bank, Ltd. (“MHBK”) and Mizuho Trust & Banking Co., Ltd. (“MHTB”)

 

 

 

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2021

    See above Notes    Page  

1. Income Analysis

    CON    NON      2- 1    

2. Net Gains/Losses on Stocks

    CON    NON      2- 3    

3. Unrealized Gains/Losses on Securities

    CON    NON      2- 4    

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

    NON         2- 6    

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

    CON    NON      2- 7    

6. Status of Deposits and Loans

    NON         2- 9    

 

Attachments

    Page  

Mizuho Bank, Ltd.

   

Comparison of Non-Consolidated Balance Sheets (selected items)

      2- 11    

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

      2- 12    

Mizuho Trust & Banking Co., Ltd.

   

Comparison of Non-Consolidated Balance Sheets (selected items)

      2- 13    

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

      2- 14    

Mizuho Securities Co., Ltd.

   

Comparison of Non-Consolidated Balance Sheets (selected items)

      2- 15    

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

      2- 16    

 

 

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.

 

Mizuho Financial Group, Inc.

 

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2021

1. Income Analysis

Consolidated

 

            (Billions of yen)  
            First Quarter of
Fiscal 2021		     First Quarter of
Fiscal 2020		  
                                           Change        

Consolidated Gross Profits

      1        527.1       (42.4 )      569.5  

Net Interest Income

      2        222.8       7.7       215.1  

Fiduciary Income

      3        14.9       1.6       13.3  

Credit Costs for Trust Accounts

      4        —         —         —    

Net Fee and Commission Income

      5        157.4       0.6       156.8  

Net Trading Income

      6        102.8       (34.9 )      137.8  

Net Other Operating Income

      7        28.9       (17.5 )      46.5  

General and Administrative Expenses

      8        (335.3 )      5.1       (340.4 ) 

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

      9        (5.4 )      35.6       (41.1 ) 

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

      10        8.1       5.9       2.1  

Net Gains (Losses) related to Stocks

      11        23.9       36.9       (12.9 ) 

Equity in Income from Investments in Affiliates

      12        12.7       6.8       5.8  

Other

      13        (12.4 )      (4.8 )      (7.5 ) 
     

 

 

    

 

 

    

 

 

  

Ordinary Profits

      14        218.7       43.3       175.4  
     

 

 

    

 

 

    

 

 

  

Net Extraordinary Gains (Losses)

      15        27.4       26.7       0.6  

Income before Income Taxes

      16        246.1       70.0       176.0  

Income Taxes

      17        6.7       60.2       (53.5 ) 

Profit

      18        252.8       130.3       122.5  

Profit Attributable to Non-controlling Interests

      19        (2.3 )      (2.1 )      (0.1 ) 
     

 

 

    

 

 

    

 

 

  

Profit Attributable to Owners of Parent

      20        250.5       128.1       122.3  
     

 

 

    

 

 

    

 

 

  

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

      21        2.6       41.6       (39.0 ) 

 

Credit-related Costs [21]  =     Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans) [9] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [10] + Credit Costs for Trust Accounts [4]

 

(Reference)

          

Consolidated Net Business Profits

      22        194.3       (37.3 )      231.7  

 

Consolidated Net Business Profits [22] =     Consolidated Gross Profits [1] – General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

 

Number of consolidated subsidiaries

      23        160       30       130  

Number of affiliates under the equity method

      24        28       1       27  

 

2-1

Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

            (Billions of yen)  
            First Quarter of Fiscal 2021      First Quarter of
Fiscal 2020		  
            MHBK     MHTB     Aggregate
Figures		      Change  

Gross Profits

      1        311.1       27.8       338.9        (53.9 )       392.9  

Net Interest Income

      2        193.4       4.4       197.8        6.8        191.0  

Fiduciary Income

      3          15.1       15.1        1.7        13.3  

Trust Fees for Jointly Operated Designated Money Trust

      4          0.9       0.9        (0.0 )       1.0  

Credit Costs for Trust Accounts

      5          —         —          —          —    

Net Fee and Commission Income

      6        81.5       7.9       89.4        (16.6 )       106.0  

Net Trading Income

      7        29.6       0.2       29.9        (23.2 )       53.2  

Net Other Operating Income

      8        6.4       0.0       6.5        (22.6 )       29.2  

General and Administrative Expenses
(excluding Non-Recurring Losses)

      9        (193.8 )      (21.0 )      (214.8 )       9.0        (223.8 ) 
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net Business Profits (before Reversal of (Provision for)
General Reserve for Losses on Loans) (1)

     10        117.3       6.8       124.1        (44.9 )       169.1  

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

     11        110.2       6.8       117.0        (11.2 )       128.2  

Excluding Net Gains (Losses) from redemption of Investment Trusts

      12        106.8       6.8       113.6        (14.0 )       127.7  
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

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

      13        —         (0.0 )      (0.0 )       28.8        (28.8 ) 
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net Business Profits

      14        117.3       6.7       124.1        (16.1 )       140.2  

Net Gains (Losses) related to Bonds

      15        7.0       0.0       7.0        (33.7 )       40.8  
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net Non-Recurring Gains (Losses)

      16        23.2       1.3       24.6        97.7        (73.1 ) 

Net Gains (Losses) related to Stocks

      17        22.2       0.2       22.4        83.9        (61.4 ) 

Expenses related to Portfolio Problems

      18        (4.8 )      (0.0 )      (4.9 )       7.6        (12.5 ) 

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

      19        8.1       0.0       8.1        6.2        1.8  

Other

      20        (2.2 )      1.1       (1.0 )       (0.0 )       (0.9 ) 
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Ordinary Profits

      21        140.6       8.1       148.7        81.6        67.1  
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net Extraordinary Gains (Losses)

      22        26.1       1.5       27.6        26.2        1.3  

Income before Income Taxes

      23        166.7       9.7       176.4        107.9        68.5  

Income Taxes

      24        (73.0 )      (2.8 )      (75.9 )       (41.3 )       (34.5 ) 
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Net Income

      25        93.6       6.8       100.5        66.5        33.9  
     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

 

(1)  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB excludes the amounts of “Credit Costs for Trust Accounts” [5].

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

 

 

Credit-related Costs

      26        3.3       (0.1 )      3.2        42.6        (39.4 ) 

 

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

 

Reference: Breakdown of Credit-related Costs

                

Credit Costs for Trust Accounts

      27          —         —          —          —    

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

      28        (5.4 )      (0.0 )      (5.4 )       23.3        (28.8 ) 

Losses on Write-offs of Loans

      29        (2.9 )      (0.0 )      (2.9 )       1.3        (4.3 ) 

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

      30        11.4       (0.0 )      11.3        18.1        (6.7 ) 

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

      31        0.0       —         0.0        0.0        —    

Reversal of (Provision for) Reserve for Contingencies

      32        0.2       —         0.2        (0.3 )       0.5  

Other (including Losses on Sales of Loans)

      33        (0.0 )      —         (0.0 )       0.0        (0.1 ) 

Total

      34        3.3       (0.1 )      3.2        42.6        (39.4 ) 

 

2-2

Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

     (Billions of yen)  
   First Quarter of
Fiscal 2021		     Change     First Quarter of
Fiscal 2020		  

Net Gains (Losses) related to Stocks

      23.9       36.9       (12.9 ) 

Gains on Sales

      49.4       27.1       22.2  

Losses on Sales

      (15.3 )      0.6       (16.0 ) 

Impairment (Devaluation)

      (2.3 )      (0.7 )      (1.6 ) 

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

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      (7.7 )      9.8       (17.5 ) 

 

Non-Consolidated

       

 

Aggregate Figures for the 2 Banks

 

       
     First Quarter of
Fiscal 2021		     Change     First Quarter of
Fiscal 2020		  

Net Gains (Losses) related to Stocks

      22.4       83.9       (61.4 ) 

Gains on Sales

      46.9       28.7       18.2  

Losses on Sales

      (14.8 )      (2.3 )      (12.5 ) 

Impairment (Devaluation)

      (1.9 )      47.4       (49.4 ) 

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

      —         0.2       (0.2 ) 

Gains (Losses) on Derivatives other than for Trading

      (7.7 )      9.8       (17.5 ) 

Mizuho Bank

 

 

     First Quarter of
Fiscal 2021		     Change     First Quarter of
Fiscal 2020		  

Net Gains (Losses) related to Stocks

      22.2       82.5       (60.3 ) 

Gains on Sales

      46.6       32.4       14.1  

Losses on Sales

      (14.8 )      (3.9 )      (10.8 ) 

Impairment (Devaluation)

      (1.9 )      47.5       (49.4 ) 

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

      —         0.2       (0.2 ) 

Gains (Losses) on Derivatives other than for Trading

      (7.7 )      6.2       (13.9 ) 

Mizuho Trust & Banking

 

 

     First Quarter of
Fiscal 2021		     Change     First Quarter of
Fiscal 2020		  
Net Gains (Losses) related to Stocks      0.2       1.4       (1.1 ) 

Gains on Sales

      0.3       (3.7 )      4.0  

Losses on Sales

      (0.0 )      1.6       (1.6 ) 

Impairment (Devaluation)

      (0.0 )      (0.0 )      —    

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

      —         —         —    

Gains (Losses) on Derivatives other than for Trading

      —         3.5       (3.5 ) 

 

2-3

Mizuho Financial Group, Inc.

 

3. Unrealized Gains/Losses on Securities

 

  •  

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

Consolidated

(1) Other Securities

 

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

MHFG (Consolidated)

                      

Other Securities

      45,668.2        1,525.2       1,897.4        372.1        42,534.8        1,603.2       1,989.8        386.5  

Japanese Stocks

      2,812.1        1,609.2       1,662.5        53.2        2,865.9        1,698.2       1,744.6        46.3  

Japanese Bonds

      25,646.3        (36.2 )      23.1        59.4        24,145.0        (44.9 )      24.7        69.7  

Japanese Government Bonds

      22,283.4        (25.7 )      0.8        26.5        20,920.5        (31.7 )      3.5        35.3  

Other

      17,209.7        (47.7 )      211.6        259.4        15,523.8        (50.0 )      220.4        270.4  

Foreign Bonds

      13,926.8        (26.8 )      67.7        94.6        12,433.9        (33.0 )      66.6        99.6  

 

*

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

*

Unrealized Gains/Losses include ¥29.4 billion and ¥32.4 billion, which were recognized in the statement of income for June 30, 2021 and March 31, 2021 respectively, by applying the fair-value hedge method.

(2) Bonds Held to Maturity

 

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

MHFG (Consolidated)

          1,192.8            12.0             16.1            4.1             885.5            18.0              21.2            3.1   

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities

 

     (Billions of yen)  
     As of June 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    

MHBK

                      

Other Securities

      44,142.4        1,363.9       1,734.3        370.3        41,113.3        1,441.2       1,826.4        385.1  

Japanese Stocks

      2,573.6        1,451.7       1,504.3        52.6        2,625.6        1,539.5       1,585.8        46.3  

Japanese Bonds

      25,477.3        (37.2 )      22.1        59.4        24,010.6        (45.8 )      23.8        69.7  

Japanese Government Bonds

      22,212.2        (25.7 )      0.8        26.5        20,879.3        (31.7 )      3.5        35.2  

Other

      16,091.4        (50.5 )      207.7        258.2        14,477.0        (52.4 )      216.7        269.1  

Foreign Bonds

      13,489.2        (26.3 )      67.0        93.4        12,031.1        (32.5 )      65.8        98.3  

MHTB

                      

Other Securities

      303.5        82.2       85.1        2.8        275.1        86.3       88.6        2.2  

Japanese Stocks

      149.7        80.8       83.6        2.8        154.2        85.0       87.3        2.2  

Japanese Bonds

      147.8        0.9       0.9        0.0        114.8        0.9       0.9        0.0  

Japanese Government Bonds

      60.0        (0.0 )      —          0.0        30.0        (0.0 )      —          0.0  

Other

      5.9        0.4       0.4        0.0        6.0        0.3       0.3        0.0  

Foreign Bonds

      —          —         —          —          —          —         —          —    

Total

                      

Other Securities

      44,446.0        1,446.1       1,819.4        373.2        41,388.5        1,527.5       1,915.0        387.4  

Japanese Stocks

      2,723.4        1,532.5       1,588.0        55.4        2,779.8        1,624.5       1,673.1        48.5  

Japanese Bonds

      25,625.1        (36.3 )      23.1        59.4        24,125.5        (44.9 )      24.7        69.7  

Japanese Government Bonds

      22,272.2        (25.7 )      0.8        26.5        20,909.3        (31.7 )      3.5        35.3  

Other

      16,097.4        (50.0 )      208.2        258.2        14,483.0        (52.0 )      217.0        269.1  

Foreign Bonds

      13,489.2        (26.3 )      67.0        93.4        12,031.1        (32.5 )      65.8        98.3  

 

*

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

*

Unrealized Gains/Losses include ¥29.4 billion and ¥32.4 billion, which were recognized in the statement of income (aggregate figures for the 2 banks) for June 30, 2021 and March 31, 2021 respectively, by applying the fair-value hedge method.

 

2-4

Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

 

     (Billions of yen)  
     As of June 30, 2021      As of March 31, 2021  
     Book Value      Unrealized Gains/Losses      Book Value      Unrealized Gains/Losses  
            Gains      Losses             Gains      Losses  
MHBK      1,192.8        12.0        16.1        4.1        885.5        18.0        21.2        3.1  
MHTB      —          —          —          —          —          —          —          —    

Total

      1,192.8        12.0        16.1        4.1        885.5        18.0        21.2        3.1  

 

(3) Investments in Subsidiaries and Affiliates

 

 

     (Billions of yen)  
     As of June 30, 2021      As of March 31, 2021  
     Book Value      Unrealized Gains/Losses      Book Value      Unrealized Gains/Losses  
            Gains      Losses             Gains      Losses  
MHBK      135.7        341.9        342.3        0.3        135.7        286.5        286.5        0.0  
MHTB      —          —          —          —          —          —          —          —    

Total

      135.7        341.9        342.3        0.3        135.7        286.5        286.5        0.0  

(Reference)

Unrealized Gains/Losses on Other Securities

(the base amount to be recorded directly to Net Assets after tax and other 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 tax and other necessary adjustments.

The base amounts are as follows:

Consolidated

 

     (Billions of yen)  
     As of June 30, 2021     As of
March 31,
2021		  
     Unrealized Gains/Losses     Unrealized
Gains/
Losses		  
           Change  

Other Securities

            1,495.8             (74.9 )            1,570.7  

Japanese Stocks

      1,579.8       (85.8 )      1,665.7  

Japanese Bonds

      (36.2 )      8.6       (44.9 ) 

Japanese Government Bonds

      (25.7 )      5.9       (31.7 ) 

Other

      (47.7 )      2.2       (50.0 ) 

Foreign Bonds

      (26.8 )      6.1       (33.0 ) 

 

Non-Consolidated

       

 

Aggregate Figures for the 2 Banks

       
     (Billions of yen)  
     As of June 30, 2021     As of
March 31,
2021		  
     Unrealized Gains/Losses     Unrealized
Gains/
Losses		  
           Change  

Other Securities

      1,416.7       (78.2 )      1,495.0  

Japanese Stocks

      1,503.1       (88.9 )      1,592.0  

Japanese Bonds

      (36.3 )      8.6       (44.9 ) 

Japanese Government Bonds

      (25.7 )      5.9       (31.7 ) 

Other

      (50.0 )      1.9       (52.0 ) 

Foreign Bonds

      (26.3 )      6.1       (32.5 ) 

 

2-5

Mizuho Financial Group, Inc.

 

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

Non-Consolidated

Aggregate Figures for the 2 Banks

 

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

MHBK

              1,129.4                1,093.9                35.4               1,168.8                1,125.5            43.2  

MHTB

      8.5        16.7        (8.2 )      9.6        13.3        (3.7 ) 

Total

      1,137.9        1,110.7        27.1       1,178.4        1,138.9        39.5  

 

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

 

2-6

Mizuho Financial Group, Inc.

 

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

Consolidated

 

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

Claims against Bankrupt and Substantially Bankrupt Obligors

      46.7        (8.7 )      55.5  

Claims with Collection Risk

      351.8        (57.9 )      409.7  

Claims for Special Attention

      414.0        36.5       377.5  

Sub-total[1]

      812.6        (30.1 )      842.8  

Normal Claims

      92,357.0        (829.7 )      93,186.7  

Total[2]

                       93,169.6           (859.9 )                       94,029.6  
     (%)  

NPL ratio[1]/[2]

      0.87        (0.02 )      0.89  

 

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

Trust Account

 

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

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —         —    

Claims with Collection Risk

      —          —         —    

Claims for Special Attention

      —          —         —    

Sub-total[3]

      —          —         —    

Normal Claims

                                4.6        (0.1 )                                4.7  

Total[4]

      4.6        (0.1 )      4.7  
     (%)  

NPL ratio[3]/[4]

      —                 —         —    

Consolidated + Trust Account

 

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

Claims against Bankrupt and Substantially Bankrupt Obligors

      46.7        (8.7 )      55.5  

Claims with Collection Risk

      351.8        (57.9 )      409.7  

Claims for Special Attention

      414.0        36.5       377.5  

Sub-total[5]

      812.6        (30.1 )      842.8  

Normal Claims

      92,361.6        (829.9 )      93,191.5  

Total[6]

                       93,174.2           (860.1 )                       94,034.4  
     (%)  

NPL ratio[5]/[6]

      0.87        (0.02 )      0.89  

 

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

 

2-7

Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)

 

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

Claims against Bankrupt and Substantially Bankrupt Obligors

      40.3        (8.3 )      48.7  

Claims with Collection Risk

      342.1        (68.8 )      411.0  

Claims for Special Attention

      371.2        38.2       333.0  

Sub-total[1]

      753.7        (38.9 )      792.7  

Normal Claims

      94,180.7        (963.5 )      95,144.3  

Total[2]

                       94,934.5        (1,002.5 )                       95,937.1  
     (%)  

NPL ratio[1]/[2]

      0.79        (0.03 )      0.82  

 

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

Mizuho Bank

 

     (Billions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      40.1        (8.3 )      48.4  

Claims with Collection Risk

      337.4        (67.2 )      404.6  

Claims for Special Attention

      369.9        37.4       332.5  

Sub-total[3]

      747.4        (38.1 )      785.6  

Normal Claims

      90,904.4        (864.4 )      91,768.8  

Total[4]

                       91,651.9           (902.5 )                       92,554.5  
     (%)  

NPL ratio[3]/[4]

      0.81        (0.03 )      0.84  

 

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

Mizuho Trust & Banking

(Banking Account)

 

     (Billions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      0.2        (0.0 )      0.2  

Claims with Collection Risk

      4.7        (1.6 )      6.4  

Claims for Special Attention

      1.2        0.8       0.4  

Sub-total[5]

      6.3        (0.8 )      7.1  

Normal Claims

      3,271.7        (98.9 )      3,370.6  

Total[6]

                         3,278.0             (99.7 )                         3,377.8  
     (%)  

NPL ratio[5]/[6]

      0.19        (0.01 )      0.21  

 

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

(Trust Account)

 

     (Billions of yen)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      —          —          —    

Claims with Collection Risk

      —          —         —    

Claims for Special Attention

      —          —         —    

Sub-total[7]

      —          —         —    

Normal Claims

      4.6        (0.1 )      4.7  

Total[8]

                                4.6        (0.1 )                                4.7  
     (%)  

NPL ratio[7]/[8]

      —                 —         —    

 

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

 

2-8

Mizuho Financial Group, Inc.

 

6. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks

 

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

MHBK

      124,627.2        (3,651.7 )      128,279.0  

MHTB

      2,940.5        60.5       2,879.9  

Total

                     127,567.7        (3,591.2 )                     131,158.9  

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks

 

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

MHBK

      105,228.7        (2,934.6 )      108,163.3  

Individual deposits

      47,176.0        684.5       46,491.5  

MHTB

      2,940.5        60.5       2,879.9  

Individual deposits

      835.8        5.7       830.1  

Total

      108,169.2        (2,874.1 )      111,043.3  

Individual deposits

                       48,011.9        690.2                        47,321.6  

 

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

(2) Loans and Bills Discounted

Aggregate Figures for the 2 Banks

 

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

MHBK

      80,974.4        (1,100.1 )      82,074.5  

MHTB

      3,260.9        (101.2 )      3,362.2  

Total

                       84,235.4        (1,201.4 )                       85,436.8  

 

 

Note: Loans to MHFG are included as follows:

As of June 30, 2021:     ¥620.0 billion (from MHBK)

As of March 31, 2021:  ¥850.0 billion (from MHBK)

 

2-9

Mizuho Financial Group, Inc.

 

(3) Interest Margins (Domestic Operations)

Mizuho Bank

 

         

(%)

         

First Quarter of

Fiscal 2021

(For the three months)

   

Change

   

First Quarter of

Fiscal 2020

(For the three months)

Return on Loans and Bills Discounted

    1    0.74    0.02     0.72

Cost of Deposits

    2    0.00    (0.00)    0.00

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

    3    0.74         0.02     0.71

 

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

        2. Deposits include NCDs.

   
(Reference) After excluding Loans to the Japanese government and others   

Return on Loans and Bills Discounted

    4    0.76    0.01     0.74

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

    5    0.76         0.01     0.74
           

Mizuho Trust & Banking

            
         

(%)

         

First Quarter of

Fiscal 2021

(For the three months)

   

Change

   

First Quarter of

Fiscal 2020

(For the three months)

Return on Loans and Bills Discounted

    6    0.58    0.00     0.58

Cost of Deposits

    7    0.01    (0.00)    0.01

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

    8    0.57         0.00     0.56

 

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

        2. Deposits include NCDs.

   
(Reference) After excluding Loans to the Japanese government and others   

Return on Loans and Bills Discounted

    9    0.60    0.00     0.60

Loan and Deposit Rate Margin [9]-[7]

    10    0.59         0.00     0.59

 

(Reference)

            

 

Aggregate Figures for the 2 Banks

            
         

(%)

         

First Quarter of

Fiscal 2021

(For the three months)

   

Change

   

First Quarter of

Fiscal 2020

(For the three months)

Return on Loans and Bills Discounted

    11    0.73    0.02     0.71

Cost of Deposits

    12    0.00    (0.00)    0.00

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

    13    0.73         0.02     0.71

 

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

        2. Deposits include NCDs.

   
(Reference) After excluding Loans to the Japanese government and others            

Return on Loans and Bills Discounted

    14    0.75    0.01     0.73

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

    15    0.75         0.01     0.73

 

2-10

Mizuho Bank, Ltd.

 

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

 

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

Assets

       

Cash and Due from Banks

    ¥ 39,251,006     ¥ 45,460,471     ¥ (6,209,464 ) 

Call Loans

      782,934       967,504       (184,569 ) 

Receivables under Resale Agreements

      8,336,855       2,376,420       5,960,435  

Guarantee Deposits Paid under Securities Borrowing Transactions

      151,967       151,282       685  

Other Debt Purchased

      458,203       482,837       (24,634 ) 

Trading Assets

      4,398,793       4,655,665       (256,872 ) 

Money Held in Trust

      503       503       0  

Securities

      47,100,412       43,720,657       3,379,754  

Loans and Bills Discounted

      80,974,446       82,074,591       (1,100,144 ) 

Foreign Exchange Assets

      1,974,104       2,016,766       (42,661 ) 

Derivatives other than for Trading

      3,384,677       3,998,530       (613,852 ) 

Other Assets

      2,840,253       4,920,054       (2,079,800 ) 

Tangible Fixed Assets

      872,821       881,564       (8,742 ) 

Intangible Fixed Assets

      355,722       360,296       (4,573 ) 

Prepaid Pension Cost

      482,338       524,167       (41,829 ) 

Customers’ Liabilities for Acceptances and Guarantees

      7,092,754       6,828,085       264,669  

Reserves for Possible Losses on Loans

      (504,621 )      (536,101 )      31,480  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 197,953,176     ¥ 198,883,298     ¥ (930,121 ) 
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 124,627,226     ¥ 128,279,005     ¥ (3,651,778 ) 

Negotiable Certificates of Deposit

      19,140,928       16,684,774       2,456,154  

Call Money

      1,018,144       1,061,104       (42,960 ) 

Payables under Repurchase Agreements

      10,879,013       8,760,834       2,118,178  

Guarantee Deposits Received under Securities Lending Transactions

      190,069       170,648       19,420  

Commercial Paper

      1,924,183       2,105,067       (180,883 ) 

Trading Liabilities

      2,699,921       3,255,476       (555,555 ) 

Borrowed Money

      15,046,610       15,084,290       (37,680 ) 

Foreign Exchange Liabilities

      688,316       717,422       (29,106 ) 

Bonds and Notes

      899,790       911,779       (11,989 ) 

Derivatives other than for Trading

      3,381,697       4,016,868       (635,171 ) 

Other Liabilities

      2,959,164       3,448,928       (489,763 ) 

Reserve for Bonus Payments

      289       25,042       (24,753 ) 

Reserve for Variable Compensation

      1,182       983       199  

Reserve for Possible Losses on Sales of Loans

      911       1,074       (162 ) 

Reserve for Contingencies

      2,845       3,092       (246 ) 

Reserve for Reimbursement of Deposits

      19,483       20,540       (1,057 ) 

Reserve for Reimbursement of Debentures

      13,550       14,419       (868 ) 

Deferred Tax Liabilities

      52,143       38,723       13,420  

Deferred Tax Liabilities for Revaluation Reserve for Land

      61,445       61,915       (470 ) 

Acceptances and Guarantees

      7,092,754       6,828,085       264,669  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      190,699,674       191,490,080       (790,405 ) 
  

 

 

    

 

 

    

 

 

  

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

      2,433,222       2,514,003       (80,781 ) 

Appropriated Reserve

      389,012       353,908       35,103  

Other Retained Earnings

      2,044,209       2,160,095       (115,885 ) 

Retained Earnings Brought Forward

      2,044,209       2,160,095       (115,885 ) 
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      6,123,454       6,204,236       (80,781 ) 
  

 

 

    

 

 

    

 

 

  

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

      970,693       1,023,139       (52,445 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      24,035       29,458       (5,423 ) 

Revaluation Reserve for Land, net of Taxes

      135,318       136,384       (1,065 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      1,130,047       1,188,982       (58,934 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      7,253,501       7,393,218       (139,716 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥             197,953,176     ¥             198,883,298     ¥                   (930,121 ) 
  

 

 

    

 

 

    

 

 

  

 

2-11

Mizuho Bank, Ltd.

 

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

OF MIZUHO BANK

 

     Millions of yen  
     For the three months
ended June 30, 2021
(A)		      For the three months
ended June 30, 2020
(B)		     Change
(A) - (B)		  

Ordinary Income

    ¥ 474,024      ¥ 567,428     ¥ (93,404 ) 

Interest Income

      251,099        313,839       (62,739 ) 

Interest on Loans and Bills Discounted

      186,171        232,261       (46,089 ) 

Interest and Dividends on Securities

      42,362        55,352       (12,990 ) 

Fee and Commission Income

      116,576        124,301       (7,725 ) 

Trading Income

      29,836        53,427       (23,591 ) 

Other Operating Income

      18,443        58,547       (40,104 ) 

Other Ordinary Income

      58,068        17,312       40,755  
  

 

 

     

 

 

    

 

 

  

Ordinary Expenses

      333,416        508,058       (174,642 ) 

Interest Expenses

      57,657        129,591       (71,934 ) 

Interest on Deposits

      8,512        48,705       (40,193 ) 

Fee and Commission Expenses

      35,046        23,851       11,194  

Trading Expenses

      139        382       (243 ) 

Other Operating Expenses

      11,951        33,838       (21,886 ) 

General and Administrative Expenses

      184,458        198,302       (13,844 ) 

Other Ordinary Expenses

      44,161        122,090       (77,928 ) 
  

 

 

     

 

 

    

 

 

  

Ordinary Profits

      140,608        59,370       81,237  
  

 

 

     

 

 

    

 

 

  

Extraordinary Gains

      27,341        2,830       24,510  
  

 

 

     

 

 

    

 

 

  

Extraordinary Losses

      1,239        1,388       (149 ) 
  

 

 

     

 

 

    

 

 

  

Income before Income Taxes

      166,710        60,812       105,898  

Income Taxes:

        

Current

      38,669        35,335       3,333  

Deferred

      34,369        (3,143 )      37,512  
  

 

 

     

 

 

    

 

 

  

Net Income

    ¥                      93,671      ¥                      28,620     ¥                      65,051  
  

 

 

     

 

 

    

 

 

  

 

2-12

Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO TRUST & BANKING

 

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

Assets

       

Cash and Due from Banks

    ¥  2,174,105     ¥  2,010,405     ¥ 163,700  

Call Loans

      2,764       22,134       (19,369 ) 

Other Debt Purchased

      43,051       26,092       16,959  

Trading Assets

      25,273       130,476       (105,202 ) 

Money Held in Trust

      10,929       9,804       1,125  

Securities

      349,569       321,504       28,065  

Loans and Bills Discounted

      3,260,996       3,362,267       (101,270 ) 

Foreign Exchange Assets

      4,724       6,313       (1,588 ) 

Other Assets

      210,958       321,181       (110,222 ) 

Tangible Fixed Assets

      101,263       102,139       (876 ) 

Intangible Fixed Assets

      24,027       25,486       (1,458 ) 

Prepaid Pension Cost

      65,138       65,962       (824 ) 

Customers’ Liabilities for Acceptances and Guarantees

      15,279       14,008       1,271  

Reserves for Possible Losses on Loans

      (3,228 )      (4,196 )      967  
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 6,284,855     ¥ 6,413,579     ¥ (128,724 ) 
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Deposits

    ¥ 2,940,503     ¥ 2,879,951     ¥ 60,552  

Negotiable Certificates of Deposit

      652,380       618,380       34,000  

Call Money

      605,793       581,838       23,955  

Trading Liabilities

      31,543       131,235       (99,691 ) 

Borrowed Money

      326,606       375,082       (48,476 ) 

Due to Trust Accounts

      1,155,350       1,160,608       (5,257 ) 

Other Liabilities

      33,319       23,141       10,178  

Reserve for Bonus Payments

      —         3,199       (3,199 ) 

Reserve for Variable Compensation

      464       380       84  

Provision for Retirement Benefits

      —         260       (260 ) 

Reserve for Reimbursement of Deposits

      1,403       1,558       (155 ) 

Reserve for Loss of Transfer

      4,773       4,814       (41 ) 

Deferred Tax Liabilities

      15,254       15,515       (261 ) 

Acceptances and Guarantees

      15,279       14,008       1,271  
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      5,782,673       5,809,974       (27,301 ) 
  

 

 

    

 

 

    

 

 

  

Net Assets

       

Common Stock and Preferred Stock

      247,369       247,369       —    

Capital Surplus

      15,505       15,505       —    

Capital Reserve

      15,505       15,505       —    

Retained Earnings

      260,642       275,949       (15,306 ) 

Appropriated Reserve

      150,297       45,865       104,432  

Other Retained Earnings

      110,345       230,083       (119,738 ) 

Retained Earnings Brought Forward

      110,345       230,083       (119,738 ) 

Treasury shares

      (79,999 )      —         (79,999 ) 
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      443,517       538,824       (95,306 ) 
  

 

 

    

 

 

    

 

 

  

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

      64,398       67,360       (2,962 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      (5,734 )      (2,579 )      (3,154 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      58,664       64,781       (6,116 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      502,182       603,605       (101,422 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥                 6,284,855     ¥                 6,413,579     ¥                   (128,724 ) 
  

 

 

    

 

 

    

 

 

  

 

2-13

Mizuho Trust & Banking Co., Ltd.

 

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

OF MIZUHO TRUST & BANKING

 

     Millions of yen  
     For the three months
ended June 30, 2021
(A)		      For the three months
ended June 30, 2020
(B)		      Change
(A) - (B)		  

Ordinary Income

    ¥  39,486      ¥  46,462      ¥ (6,976 ) 

Fiduciary Income

      15,106        13,388        1,717  

Interest Income

      6,207        9,170        (2,963 ) 

Interest on Loans and Bills Discounted

      4,968        5,706        (737 ) 

Interest and Dividends on Securities

      782        3,029        (2,246 ) 

Fee and Commission Income

      17,092        14,543        2,549  

Trading Income

      241        168        73  

Other Operating Income

      98        4,883        (4,785 ) 

Other Ordinary Income

      740        4,308        (3,568 ) 
  

 

 

     

 

 

     

 

 

  

Ordinary Expenses

      31,345        38,696        (7,350 ) 

Interest Expenses

      1,772        2,389        (617 ) 

Interest on Deposits

      85        103        (18 ) 

Fee and Commission Expenses

      9,152        8,915        236  

Trading Expenses

      —          —          —    

Other Operating Expenses

      0        353        (353 ) 

General and Administrative Expenses

      19,512        20,713        (1,201 ) 

Other Ordinary Expenses

      908        6,324        (5,416 ) 
  

 

 

     

 

 

     

 

 

  

Ordinary Profits

      8,140        7,766        373  
  

 

 

     

 

 

     

 

 

  

Extraordinary Gains

      1,599        —          1,599  
  

 

 

     

 

 

     

 

 

  

Extraordinary Losses

      14        50        (35 ) 
  

 

 

     

 

 

     

 

 

  

Income before Income Taxes

      9,726        7,716        2,009  

Income Taxes:

         

Current

      630        1,060        (429 ) 

Deferred

      2,240        1,301        938  
  

 

 

     

 

 

     

 

 

  

Net Income

    ¥                        6,855      ¥                        5,354      ¥                        1,500  
  

 

 

     

 

 

     

 

 

  

 

2-14

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES

 

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

Assets

       

Current Assets

       

Cash and Bank Deposits

    ¥ 505,936     ¥ 369,894     ¥ 136,041  

Cash Segregated as Deposits for Customers and Others

      529,390       554,281       (24,890 ) 

Trading Assets

      7,496,759       6,222,426       1,274,333  

Operating Investment Securities

      35,697       34,338       1,359  

Receivables Related to Margin Transactions

      37,709       32,553       5,155  

Collateralized Short-Term Financing Agreements-Receivable

      3,992,975       4,520,477       (527,502 ) 

Advances Paid

      285       441       (155 ) 

Securities: Fail to Deliver

      —         15,265       (15,265 ) 

Short-Term Loans Receivable

      41,176       36,085       5,091  

Other Current Assets

      470,444       461,711       8,733  

Less: Allowance for Doubtful Accounts

      (271 )      (276 )      5  

Noncurrent Assets

       

Property and Equipment

      19,097       19,775       (678 ) 

Intangible Assets

      64,920       66,544       (1,623 ) 

Investments and Other Assets

      309,557       314,486       (4,928 ) 
  

 

 

    

 

 

    

 

 

  

Total Assets

    ¥ 13,503,679     ¥ 12,648,003     ¥ 855,675  
  

 

 

    

 

 

    

 

 

  

Liabilities

       

Current Liabilities

       

Trading Liabilities

    ¥ 4,552,016     ¥ 4,765,362     ¥ (213,346 ) 

Payables - Unsettled Trades

      219,014       253,734       (34,719 ) 

Payables Related to Margin Transactions

      42,162       39,793       2,369  

Collateralized Short-Term Financing Agreements-Payable

      4,610,553       3,510,972       1,099,580  

Deposits Received

      506,425       444,112       62,313  

Guarantee Deposits Received

      388,508       417,142       (28,633 ) 

Securities: Fail to Receive

      4,320       2,854       1,466  

Short-Term Borrowings

      833,269       806,728       26,541  

Commercial Paper

      460,500       423,500       37,000  

Bonds and Notes Due within One Year

      137,303       127,648       9,655  

Income Taxes Payable

      1,079       11,565       (10,485 ) 

Accrued Employees’ Bonuses

      6,856       25,365       (18,509 ) 

Provision for Variable Compensation

      927       788       138  

Other Current Liabilities

      30,618       50,122       (19,504 ) 

Noncurrent Liabilities

       

Bonds and Notes

      628,722       623,175       5,546  

Long-Term Borrowings

      516,400       150,400       366,000  

Provision for Retirement Benefits

      21,247       21,216       31  

Reserve for Loss of Transfer

      3,929       4,194       (265 ) 

Other Noncurrent Liabilities

      3,024       3,132       (108 ) 

Statutory Reserves

       

Reserve for Financial Instruments Transaction Liabilities

      3,127       3,135       (7 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities

      12,970,008       11,684,945       1,285,063  
  

 

 

    

 

 

    

 

 

  

Net Assets

       

Common Stock

      125,167       125,167       —    

Capital Surplus

      381,649       381,649       —    

Additional Paid - in Capital

      285,831       285,831       —    

Other Capital Surplus

      95,817       95,817       —    

Retained Earnings

      382,177       440,661       (58,484 ) 

Other Retained Earnings

      382,177       440,661       (58,484 ) 

Retained Earnings Brought Forward

      382,177       440,661       (58,484 ) 

Treasury shares

      (369,999 )      —         (369,999 ) 
  

 

 

    

 

 

    

 

 

  

Total Shareholders’ Equity

      518,993       947,478       (428,484 ) 
  

 

 

    

 

 

    

 

 

  

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

      24,439       25,339       (900 ) 

Net Deferred Gains or Losses on Hedges, net of Tax

      (9,762 )      (9,759 )      (2 ) 
  

 

 

    

 

 

    

 

 

  

Total Valuation and Translation Adjustments

      14,676       15,580       (903 ) 
  

 

 

    

 

 

    

 

 

  

Total Net Assets

      533,670       963,058       (429,387 ) 
  

 

 

    

 

 

    

 

 

  

Total Liabilities and Net Assets

    ¥               13,503,679     ¥               12,648,003     ¥                    855,675  
  

 

 

    

 

 

    

 

 

  

 

2-15

Mizuho Securities Co., Ltd.

 

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

OF MIZUHO SECURITIES

 

     Millions of yen  
     For the three months
ended June 30, 2021
(A)		     For the three months
ended June 30, 2020
(B)		     Change
(A) - (B)		  

Operating Revenues

    ¥ 92,363     ¥ 83,434     ¥ 8,929  

Commissions

      46,903       39,308       7,594  

Net Gain on Trading

      31,969       28,761       3,207  

Net Gain on Operating Investment Securities

      22       305       (282 ) 

Interest and Dividend Income

      13,468       15,058       (1,589 ) 
  

 

 

    

 

 

    

 

 

  

Interest Expenses

      8,981       11,666       (2,684 ) 
  

 

 

    

 

 

    

 

 

  

Net Operating Revenues

      83,382       71,768       11,614  
  

 

 

    

 

 

    

 

 

  

Selling, General and Administrative Expenses

      62,203       58,966       3,237  

Transaction-Related Expenses

      17,702       15,512       2,189  

Personnel Expenses

      23,157       21,778       1,378  

Real Estate Expenses

      5,126       5,225       (98 ) 

Administrative Expenses

      9,460       9,524       (64 ) 

Depreciation and Amortization

      4,781       5,045       (264 ) 

Taxes and Dues

      1,278       1,237       41  

Provision of Allowance for Doubtful Accounts

      (15 )      (3 )      (11 ) 

Other

      711       645       65  
  

 

 

    

 

 

    

 

 

  

Operating Income

      21,179       12,801       8,377  
  

 

 

    

 

 

    

 

 

  

Non-Operating Income

      1,271       2,632       (1,360 ) 

Non-Operating Expenses

      3       32       (29 ) 
  

 

 

    

 

 

    

 

 

  

Ordinary Income

      22,447       15,401       7,046  
  

 

 

    

 

 

    

 

 

  

Extraordinary Gain

      30       6,655       (6,624 ) 
  

 

 

    

 

 

    

 

 

  

Extraordinary Loss

      972       740       231  
  

 

 

    

 

 

    

 

 

  

Income before Income Taxes

      21,505       21,315       189  

Income Taxes:

       

Current

      423       136       286  

Deferred

      3,999       3,591                                 408  
  

 

 

    

 

 

    

 

 

  

Net Income

    ¥                      17,081     ¥                      17,587     ¥ (505 ) 
  

 

 

    

 

 

    

 

 

  

 

2-16