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6-K 1 d749803d6k.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 February 2024

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 ☐

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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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


Date:		February 2, 2024

Mizuho Financial Group, Inc.

By:		/s/ Takefumi Yonezawa
Name:		Takefumi Yonezawa
Title:		Senior Executive Officer / Group CFO

For Immediate Release:

Consolidated Financial Statements for the Third Quarter of Fiscal 2023

(Nine months ended December 31, 2023)

(Under Japanese GAAP)


Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		February 2, 2024


Stock Code Number (Japan):	8411
Stock Exchange Listings:	Tokyo Stock Exchange (Prime Market), New York Stock Exchange
URL:	https://www.mizuhogroup.com
Representative:	Masahiro Kihara	President & Group CEO
For Inquiry:	Yasutoshi Tanaka	General Manager of Accounting	Phone:	+81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):		February 14, 2024	Trading Accounts:	Established
Commencement of Dividend Payment (scheduled):		-
Supplementary Materials on Quarterly Results:		Attached
IR Conference on Quarterly Results:		Not Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the Third Quarter of Fiscal 2023 (for the nine months ended December 31, 2023)

(1) Consolidated Results of Operations (Accumulated Period)


(%: Changes from the corresponding period of the previous fiscal year)
	Ordinary Income				Ordinary Profits				Profit Attributable to Owners of Parent
	¥ million		%		¥ million		%		¥ million		%
3Q F2023		6,160,482		42.9		882,850		34.1		642,320		18.2
3Q F2022		4,308,147		83.6		658,150		32.2		543,277		13.5

Note:

Comprehensive Income:

3Q F2023: ¥972,881 million, —%; 3Q F2022: ¥86,714 million, (65.4)%


	Net Income per Share of Common Stock		Diluted Net Income per Share of Common Stock
	¥		¥
3Q F2023		253.41		253.41
3Q F2022		214.36		214.36

(2) Consolidated Financial Conditions


	Total Assets		Total Net Assets		Own Capital Ratio
	¥ million		¥ million		%
3Q F2023		271,148,694		9,941,616		3.6
Fiscal 2022		254,258,203		9,208,463		3.5

Reference:

Own Capital:

As of December 31, 2023: ¥9,862,575 million; As of March 31, 2023: ¥9,133,294 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 2022		—		42.50		—		42.50		85.00
Fiscal 2023		—		50.00		—
Fiscal 2023 (estimate)								50.00		100.00


Note:		Revision of the latest announced estimates for cash dividends for shareholders of common stock: No

3. Consolidated Earnings Estimates for Fiscal 2023 (for the fiscal year ending March 31, 2024)


	(%: Changes from the previous fiscal year)
		Profit Attributable to Owners of Parent				Net Income per Share of Common Stock
		¥ million		%		¥
Fiscal 2023			640,000		15.2		252.48


Notes:	1.	Revision of the latest announced earnings estimates for fiscal 2023: 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 (excluding treasury stock) during 1Q, 2Q and 3Q and the number of outstanding shares (excluding treasury stock) as of December 31, 2023 (which is used as a proxy for the average number of outstanding shares during the remainder of the relevant period).

Notes

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

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

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

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

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

iii. Changes in accounting estimates: No

iv. Restatements: No

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

(4) Issued Shares of Common Stock


i. Period-end issued shares (including treasury stock):	As of December 31, 2023	2,539,249,894 shares	As of March 31, 2023	2,539,249,894 shares
ii. Period-end treasury stock:	As of December 31, 2023	4,434,920 shares	As of March 31, 2023	5,027,306 shares
iii. Average outstanding shares (accumulated period):	3Q Fiscal 2023	2,534,658,103 shares	3Q Fiscal 2022	2,534,327,656 shares

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 geopolitical disruptions; intensification of competition in the market for financial services; incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our medium-term business plan and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3. D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 27, 2023, both of which are available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

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

Mizuho Financial Group, Inc.

m Contents of Attachment


1. Matters Related to Summary Information (Notes)		p. 1-2
(1) Changes in Accounting Policies and Accounting Estimates / Restatements		p. 1-2

2. Quarterly Consolidated Financial Statements and Others		p. 1-3
(1) Consolidated Balance Sheets		p. 1-3
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income		p. 1-5
(3) Note for Assumption of Going Concern		p. 1-7
(4) Note for Significant Changes in the Amount of Shareholders’ Equity		p. 1-7
øSELECTED FINANCIAL INFORMATION For the Third Quarter of Fiscal 2023

Note to XBRL

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

1-1

Mizuho Financial Group, Inc.

1. Matters Related to Summary Information (Notes)

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

(Changes in Accounting Policies)

(Implementation of ASU2016-13, “Measurement of Credit Losses on Financial Instruments”)

Some overseas subsidiaries which apply U.S. GAAP and are considered non-public business entities have adopted ASU2016-13, “Measurement of Credit Losses on Financial Instruments” from the beginning of the first quarter ended June 30, 2023. This update has replaced the incurred loss impairment methodology under previous U.S. GAAP with a methodology that reflects expected credit losses with respect to financial instruments in the amortized cost category, and full lifetime expected credit losses have been estimated upon initial recognition and a reserve has been recognized. In adopting the accounting standard, Retained Earnings was adjusted for the cumulative effect at the beginning of the first quarter ended June 30, 2023 in accordance with transitional treatment set out in the accounting standard.

As a result, at the beginning of the first quarter ended June 30, 2023, Reserves for Possible Losses on Loans increased by ¥1,188 million, Reserves for Contingencies increased by ¥1,485 million and Retained Earnings decreased by ¥1,883 million.

1-2

Mizuho Financial Group, Inc.

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets


	Millions of yen
	As of March 31, 2023			As of December 31, 2023
Assets
Cash and Due from Banks	¥	67,152,100		¥	66,675,039
Call Loans and Bills Purchased		1,386,895			1,028,132
Receivables under Resale Agreements		11,693,419			19,017,294
Guarantee Deposits Paid under Securities Borrowing Transactions		1,897,429			1,940,810
Other Debt Purchased		3,836,735			4,248,375
Trading Assets		17,404,494			21,391,511
Money Held in Trust		514,607			547,119
Securities		37,363,140			39,355,280
Loans and Bills Discounted		88,687,155			91,738,654
Foreign Exchange Assets		2,408,587			2,269,844
Derivatives other than for Trading Assets		2,184,875			2,737,723
Other Assets		8,689,547			8,240,489
Tangible Fixed Assets		1,105,851			1,123,832
Intangible Fixed Assets		572,719			687,648
Net Defined Benefit Asset		859,271			760,955
Deferred Tax Assets		316,168			199,286
Customers’ Liabilities for Acceptances and Guarantees		8,905,643			9,893,645
Reserves for Possible Losses on Loans		(720,437	)		(706,947	)
Reserve for Possible Losses on Investments		(1	)		(2	)

Total Assets	¥	254,258,203		¥	271,148,694

1-3

Mizuho Financial Group, Inc.


	Millions of yen
	As of March 31, 2023			As of December 31, 2023
Liabilities
Deposits	¥	150,498,976		¥	148,469,120
Negotiable Certificates of Deposit		13,788,347			17,556,689
Call Money and Bills Sold		1,814,873			1,555,058
Payables under Repurchase Agreements		25,735,560			35,273,822
Guarantee Deposits Received under Securities Lending Transactions		757,842			773,780
Commercial Paper		1,782,111			1,541,661
Trading Liabilities		12,698,007			15,001,675
Borrowed Money		4,155,480			5,608,362
Foreign Exchange Liabilities		671,552			848,057
Short-term Bonds		477,141			462,301
Bonds and Notes		11,371,189			11,365,532
Due to Trust Accounts		1,534,097			1,023,850
Derivatives other than for Trading Liabilities		2,749,138			4,033,563
Other Liabilities		7,777,025			7,490,377
Reserve for Bonus Payments		126,694			93,520
Reserve for Variable Compensation		2,381			1,894
Net Defined Benefit Liability		68,429			68,454
Reserve for Director and Corporate Auditor Retirement Benefits		539			589
Reserve for Possible Losses on Sales of Loans		15,049			21,794
Reserve for Contingencies		13,706			19,065
Reserve for Reimbursement of Deposits		13,695			10,918
Reserve for Reimbursement of Debentures		7,798			5,501
Reserves under Special Laws		3,352			3,354
Deferred Tax Liabilities		22,391			26,499
Deferred Tax Liabilities for Revaluation Reserve for Land		58,711			57,986
Acceptances and Guarantees		8,905,643			9,893,645

Total Liabilities	¥	245,049,740		¥	261,207,078

Net Assets
Common Stock	¥	2,256,767		¥	2,256,767
Capital Surplus		1,129,267			1,129,267
Retained Earnings		5,093,911			5,501,306
Treasury Stock		(8,786	)		(8,444	)

Total Shareholders’ Equity		8,471,160			8,878,897

Net Unrealized Gains (Losses) on Other Securities		564,495			773,273
Deferred Gains or Losses on Hedges		(358,102	)		(349,849	)
Revaluation Reserve for Land		129,321			127,792
Foreign Currency Translation Adjustments		144,093			294,788
Remeasurements of Defined Benefit Plans		182,306			137,584
Own Credit Risk Adjustments, Net of Tax		19			88

Total Accumulated Other Comprehensive Income		662,133			983,677

Stock Acquisition Rights		5			5
Non-Controlling Interests		75,163			79,035

Total Net Assets		9,208,463			9,941,616

Total Liabilities and Net Assets	¥	254,258,203		¥	271,148,694

1-4

Mizuho Financial Group, Inc.

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

Consolidated Statements of Income


	Millions of yen
	For the nine months ended December 31, 2022		For the nine months ended December 31, 2023
Ordinary Income	¥	4,308,147	¥	6,160,482
Interest Income		2,050,840		4,061,818
Interest on Loans and Bills Discounted		1,175,714		2,020,883
Interest and Dividends on Securities		268,434		460,495
Fiduciary Income		43,548		45,536
Fee and Commission Income		640,453		738,392
Trading Income		1,056,220		909,834
Other Operating Income		389,222		251,861
Other Ordinary Income		127,861		153,038
Ordinary Expenses		3,649,996		5,277,631
Interest Expenses		1,326,742		3,404,582
Interest on Deposits		495,216		1,230,987
Fee and Commission Expenses		125,607		149,756
Trading Expenses		843,720		387,416
Other Operating Expenses		140,296		67,424
General and Administrative Expenses		1,057,623		1,172,275
Other Ordinary Expenses		156,004		96,176

Ordinary Profits		658,150		882,850

Extraordinary Gains		41,945		42,212
Extraordinary Losses		10,134		3,609

Income before Income Taxes		689,961		921,452

Income Taxes:
Current		94,750		224,731
Deferred		47,787		51,282

Total Income Taxes		142,537		276,014

Profit		547,423		645,438

Profit Attributable to Non-controlling Interests		4,146		3,118

Profit Attributable to Owners of Parent	¥	543,277	¥	642,320

1-5

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income


	Millions of yen
	For the nine months ended December 31, 2022			For the nine months ended December 31, 2023
Profit	¥	547,423		¥	645,438
Other Comprehensive Income		(460,709	)		327,443
Net Unrealized Gains (Losses) on Other Securities		(491,119	)		210,789
Deferred Gains or Losses on Hedges		(150,531	)		8,422
Foreign Currency Translation Adjustments		195,641			136,694
Remeasurements of Defined Benefit Plans		(43,681	)		(44,367	)
Own Credit Risk Adjustments, Net of Tax		19			68
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		28,962			15,836

Comprehensive Income		86,714			972,881

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		81,264			965,394
Comprehensive Income Attributable to Non-controlling Interests		5,450			7,487

1-6

Mizuho Financial Group, Inc.

(3) Note for Assumption of Going Concern

There is no applicable information.

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

There is no applicable information.

1-7

SELECTED FINANCIAL INFORMATION

For the Third Quarter of Fiscal 2023

(Nine months ended December 31, 2023)

(Under Japanese GAAP)

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

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

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

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2023

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

CON

NON

2-7

5. Status of Deposits and Loans

NON

2-11

Attachments

Page

Mizuho Bank, Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-13

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

2-14

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 27, 2023, both of which are available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

Mizuho Financial Group, Inc.

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2023

1. Income Analysis

Consolidated


		(Billions of yen)
		Third Quarter of Fiscal 2023 (Accumulated Period)						Third Quarter of Fiscal 2022 (Accumulated Period)
					Change
Consolidated Gross Profits	1		1,998.2			254.3			1,743.9
Net Interest Income	2		657.2			(66.8	)		724.0
Fiduciary Income	3		45.5			1.9			43.5
Credit Costs for Trust Accounts	4		—			—			—
Net Fee and Commission Income	5		588.6			73.7			514.8
Net Trading Income	6		522.4			309.9			212.4
Net Other Operating Income	7		184.4			(64.4	)		248.9
General and Administrative Expenses	8		(1,172.2	)		(114.6	)		(1,057.6	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)	9		(19.2	)		50.9			(70.1	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	10		5.3			0.5			4.7
Net Gains (Losses) related to Stocks	11		79.5			32.0			47.4
Equity in Income from Investments in Affiliates	12		17.1			(3.5	)		20.6
Other	13		(25.9	)		4.9			(30.8	)

Ordinary Profits	14		882.8			224.7			658.1

Net Extraordinary Gains (Losses)	15		38.6			6.7			31.8
Income before Income Taxes	16		921.4			231.4			689.9
Income Taxes	17		(276.0	)		(133.4	)		(142.5	)
Profit	18		645.4			98.0			547.4
Profit Attributable to Non-controlling Interests	19		(3.1	)		1.0			(4.1	)

Profit Attributable to Owners of Parent	20		642.3			99.0			543.2


Credit-related Costs (including Credit Costs for Trust Accounts)	21		(13.8	)		51.4			(65.3	)
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		817.9			141.6			676.2
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		209			42			167
Number of affiliates under the equity method	24		23			(3	)		26

2-1

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks


		(Billions of yen)
		Third Quarter of Fiscal 2023 (Accumulated Period)												Third Quarter of Fiscal 2022 (Accumulated Period)
		MHBK			MHTB			Aggregate Figures			Change
Gross Profits	1		1,152.6			77.8			1,230.5			104.6			1,125.8
Net Interest Income	2		626.8			14.0			640.9			(17.2	)		658.1
Fiduciary Income	3					45.8			45.8			1.8			44.0
Trust Fees for Jointly Operated Designated Money Trust	4					2.9			2.9			(0.0	)		2.9
Credit Costs for Trust Accounts	5					—			—			—			—
Net Fee and Commission Income	6		305.9			18.0			323.9			19.6			304.3
Net Trading Income	7		130.7						130.7			137.4			(6.6	)
Net Other Operating Income	8		89.0			(0.0	)		89.0			(37.0	)		126.0
General and Administrative Expenses (excluding Non-Recurring Losses)	9		(606.3	)		(60.2	)		(666.6	)		(40.0	)		(626.6	)

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) (1)	10		546.2			17.5			563.8			64.6			499.2
Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas (2)	11		506.4			17.5			524.0			(14.8	)		538.9
Excluding Net Gains (Losses) from redemption of Investment Trusts	12		480.6			17.5			498.2			(17.6	)		515.8

Reversal of (Provision for) General Reserve for Losses on Loans	13		—			—			—			24.3			(24.3	)

Net Business Profits	14		546.2			17.5			563.8			88.9			474.9
Net Gains (Losses) related to Bonds	15		39.8			(0.0	)		39.8			79.4			(39.6	)

Net Non-Recurring Gains (Losses)	16		57.6			9.9			67.6			25.8			41.7
Net Gains (Losses) related to Stocks	17		58.7			2.8			61.5			23.5			38.0
Expenses related to Portfolio Problems	18		(11.4	)		(0.0	)		(11.4	)		0.7			(12.2	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	19		7.8			0.8			8.7			4.3			4.3
Other	20		2.5			6.2			8.8			(2.7	)		11.5

Ordinary Profits	21		603.9			27.5			631.4			114.8			516.6

Net Extraordinary Gains (Losses)	22		39.7			(0.0	)		39.6			3.7			35.9
Income before Income Taxes	23		643.7			27.4			671.1			118.5			552.6
Income Taxes	24		(209.9	)		(7.2	)		(217.1	)		(65.5	)		(151.5	)

Net Income	25		433.8			20.2			454.0			53.0			401.0

(1) Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB excludes the amounts of “Credit Costs for Trust Accounts” [5]. (2) Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas[11] =Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)[10]-Net Gains (Losses) related to Bonds[15]

Credit-related Costs	26		(3.5	)		0.8			(2.7	)		29.4			(32.1	)
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		(38.6	)		0.7			(37.8	)		(13.6	)		(24.1	)
Losses on Write-offs of Loans	29		(7.4	)		(0.0	)		(7.4	)		(5.8	)		(1.6	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans	30		30.6			0.0			30.6			48.0			(17.3	)
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries	31		12.2			—			12.2			(3.8	)		16.1
Reversal of (Provision for) Reserve for Contingencies	32		1.1			—			1.1			4.2			(3.1	)
Other (including Losses on Sales of Loans)	33		(1.5	)		—			(1.5	)		0.4			(2.0	)
Total	34		(3.5	)		0.8			(2.7	)		29.4			(32.1	)

2-2

Mizuho Financial Group, Inc.

2. Net Gains/Losses on Stocks

Consolidated


	(Billions of yen)
	Third Quarter of Fiscal 2023 (Accumulated Period)						Third Quarter of Fiscal 2022 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		79.5			32.0			47.4
Gains on Sales		122.8			29.9			92.8
Losses on Sales		(13.1	)		28.9			(42.0	)
Impairment (Devaluation)		(2.2	)		(0.7	)		(1.5	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(27.9	)		(26.1	)		(1.7	)
Non-Consolidated
Aggregate Figures for the 2 Banks	Third Quarter of Fiscal 2023 (Accumulated Period)						Third Quarter of Fiscal 2022 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		61.5			23.5			38.0
Gains on Sales		110.7			27.3			83.3
Losses on Sales		(9.7	)		31.0			(40.7	)
Impairment (Devaluation)		(11.5	)		(8.7	)		(2.8	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(27.9	)		(26.1	)		(1.7	)

Mizuho Bank	Third Quarter of Fiscal 2023 (Accumulated Period)						Third Quarter of Fiscal 2022 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		58.7			22.5			36.1
Gains on Sales		107.8			29.0			78.8
Losses on Sales		(9.6	)		28.5			(38.2	)
Impairment (Devaluation)		(11.5	)		(8.8	)		(2.7	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(27.9	)		(26.1	)		(1.7	)

Mizuho Trust & Banking	Third Quarter of Fiscal 2023 (Accumulated Period)						Third Quarter of Fiscal 2022 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		2.8			0.9			1.9
Gains on Sales		2.9			(1.6	)		4.5
Losses on Sales		(0.0	)		2.5			(2.5	)
Impairment (Devaluation)		—			0.0			(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		—			—			—

2-3

Mizuho Financial Group, Inc.

3. Unrealized Gains/Losses on Securities

•

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

Consolidated

(1) Other Securities


	(Billions of yen)
	As of December 31, 2023									As of March 31, 2023									As of September 30, 2023 (Reference)
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses
MHFG (Consolidated)
Other Securities		34,650.5		1,103.4			2,070.5		967.0		34,403.4		789.8			1,596.3		806.4		40,346.5		656.4			2,029.1		1,372.6
Japanese Stocks		2,878.3		1,922.5			1,931.1		8.6		2,515.7		1,518.3			1,548.4		30.0		2,906.2		1,932.4			1,938.8		6.3
Japanese Bonds		17,752.2		(54.4	)		22.4		76.8		20,239.2		(61.4	)		14.4		75.9		23,474.6		(77.3	)		17.3		94.6
Japanese Government Bonds		14,317.6		(17.5	)		13.4		30.9		16,449.2		(31.9	)		3.8		35.8		19,893.0		(32.0	)		8.9		40.9
Other		14,020.0		(764.6	)		116.8		881.5		11,648.4		(667.0	)		33.3		700.4		13,965.6		(1,198.6	)		72.9		1,271.5
Foreign Bonds		11,281.4		(632.5	)		30.6		663.1		9,554.5		(580.6	)		14.7		595.4		11,261.6		(1,063.7	)		2.9		1,066.6

* 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.
* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment as of December 31, 2023, September 30, 2023 and March 31, 2023 are ¥5.8 billion (Foreign Bonds ¥150.4 billion and Japanese Government Bonds ¥(4.7) billion), ¥365.0 billion (Foreign Bonds ¥480.7 billion and Japanese Government Bonds ¥(3.2) billion) and ¥59.0 billion (Foreign Bonds ¥125.9 billion and Japanese Government Bonds ¥(14.5) billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of December 31, 2023, September 30, 2023 and March 31, 2023 are ¥1,109.2 billion (Foreign Bonds ¥(482.0) billion and Japanese Government Bonds ¥(22.2) billion), ¥1,021.4 billion (Foreign Bonds ¥(582.9) billion and Japanese Government Bonds ¥(35.2) billion) and ¥848.9 billion (Foreign Bonds ¥(454.7) billion and Japanese Government Bonds ¥(46.4) billion), respectively.
(2) Bonds Held to Maturity
	(Billions of yen)
	As of December 31, 2023									As of March 31, 2023									As of September 30, 2023 (Reference)
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value					Gains		Losses		Book Value					Gains		Losses
MHFG (Consolidated)		3,274.7		(137.3	)		17.0		154.3		2,048.1		(133.0	)		2.5		135.6		2,996.4		(261.6	)		0.6		262.3

2-4

Mizuho Financial Group, Inc.


Non-Consolidated Aggregate Figures for the 2 Banks (1) Other Securities
	(Billions of yen)
	As of December 31, 2023									As of March 31, 2023									As of September 30, 2023 (Reference)
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses
MHBK
Other Securities		33,678.1		924.9			1,890.3		965.3		33,455.8		651.4			1,456.7		805.3		39,387.2		485.1			1,856.3		1,371.2
Japanese Stocks		2,635.2		1,746.5			1,753.8		7.2		2,306.6		1,380.9			1,411.1		30.1		2,669.5		1,763.9			1,769.1		5.2
Japanese Bonds		17,658.3		(54.8	)		22.0		76.8		20,155.1		(61.8	)		14.0		75.9		23,375.2		(77.6	)		16.9		94.6
Japanese Government Bonds		14,306.6		(17.5	)		13.4		30.9		16,438.0		(31.9	)		3.8		35.8		19,882.0		(32.0	)		8.9		40.9
Other		13,384.5		(766.7	)		114.4		881.2		10,994.0		(667.6	)		31.5		699.2		13,342.3		(1,201.1	)		70.2		1,271.3
Foreign Bonds		10,695.1		(633.1	)		29.7		662.8		8,953.1		(580.7	)		14.0		594.7		10,696.2		(1,064.8	)		1.6		1,066.4
MHTB
Other Securities		224.0		100.8			102.1		1.3		209.8		79.0			81.2		2.2		227.0		97.4			98.5		1.1
Japanese Stocks		158.2		99.8			101.1		1.3		138.2		78.0			80.2		2.1		155.7		96.4			97.4		1.0
Japanese Bonds		60.4		0.3			0.3		0.0		65.6		0.3			0.3		0.0		65.8		0.3			0.3		0.0
Japanese Government Bonds		—		—			—		—		—		—			—		—		—		—			—		—
Other		5.3		0.6			0.6		0.0		5.8		0.6			0.6		0.0		5.5		0.7			0.7		0.0
Foreign Bonds		—		—			—		—		—		—			—		—		—		—			—		—
Total
Other Securities		33,902.2		1,025.8			1,992.5		966.7		33,665.6		730.4			1,537.9		807.5		39,614.3		582.5			1,954.8		1,372.3
Japanese Stocks		2,793.5		1,846.4			1,855.0		8.5		2,444.9		1,458.9			1,491.3		32.3		2,825.2		1,860.3			1,866.6		6.2
Japanese Bonds		17,718.7		(54.4	)		22.4		76.8		20,220.8		(61.4	)		14.4		75.9		23,441.0		(77.3	)		17.3		94.6
Japanese Government Bonds		14,306.6		(17.5	)		13.4		30.9		16,438.0		(31.9	)		3.8		35.8		19,882.0		(32.0	)		8.9		40.9
Other		13,389.9		(766.1	)		115.0		881.2		10,999.8		(666.9	)		32.2		699.2		13,347.9		(1,200.4	)		70.9		1,271.3
Foreign Bonds		10,695.1		(633.1	)		29.7		662.8		8,953.1		(580.7	)		14.0		594.7		10,696.2		(1,064.8	)		1.6		1,066.4

*	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.

Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment (aggregate figures for the 2 banks) as of December 31, 2023, September 30, 2023 and March 31, 2023 are ¥5.8 billion (Foreign Bonds ¥150.4 billion and Japanese Government Bonds ¥(4.7) billion), ¥365.0 billion (Foreign Bonds ¥480.7 billion and Japanese Government Bonds ¥(3.2) billion) and ¥59.0 billion (Foreign Bonds ¥125.9 billion and Japanese Government Bonds ¥(14.5) billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments (aggregate figures for the 2 banks) as of December 31, 2023, September 30, 2023 and March 31, 2023 are ¥1,031.6 billion (Foreign Bonds ¥(482.6) billion and Japanese Government Bonds ¥(22.2) billion), ¥947.5 billion (Foreign Bonds ¥(584.0) billion and Japanese Government Bonds ¥(35.2) billion) and ¥789.5 billion (Foreign Bonds ¥(454.7) billion and Japanese Government Bonds ¥(46.4) billion), respectively.

2-5

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity


	(Billions of yen)
	As of December 31, 2023									As of March 31, 2023									As of September 30, 2023 (Reference)
			Unrealized Gains/Losses									Unrealized Gains/Losses									Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value					Gains		Losses		Book Value					Gains		Losses
MHBK		3,274.7		(137.3	)		17.0		154.3		2,048.1		(133.0	)		2.5		135.6		2,996.4		(261.6	)		0.6		262.3
MHTB		—		—			—		—		—		—			—		—		—		—			—		—
Total		3,274.7		(137.3	)		17.0		154.3		2,048.1		(133.0	)		2.5		135.6		2,996.4		(261.6	)		0.6		262.3

(3) Investments in Subsidiaries and Affiliates


	(Billions of yen)
	As of December 31, 2023								As of March 31, 2023								As of September 30, 2023 (Reference)
			Unrealized Gains/Losses								Unrealized Gains/Losses								Unrealized Gains/Losses
	Book Value				Gains		Losses		Book Value				Gains		Losses		Book Value				Gains		Losses
MHBK		106.1		380.5		380.5		—		106.1		355.9		355.9		—		106.1		438.3		438.3		—
MHTB		—		—		—		—		—		—		—		—		—		—		—		—
Total		106.1		380.5		380.5		—		106.1		355.9		355.9		—		106.1		438.3		438.3		—

(Reference)

Unrealized Gains/Losses on Other Securities

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

For certain Other Securities, Unrealized Gains/Losses were recognized in the statement of income by applying the fair-value hedge accounting and others.

Unrealized Gains/Losses on Other Securities after excluding such Income/Loss (the “base amount”) are recorded directly to Net Assets after necessary adjustments.

The base amounts are as follows:

Consolidated


	(Billions of yen)
	As of December 31, 2023						As of March 31, 2023			As of September 30, 2023 (Reference)
	Unrealized Gains/Losses						Unrealized Gains/Losses			Unrealized Gains/Losses
				Change			Unrealized Gains/Losses			Unrealized Gains/Losses
Other Securities		1,057.1			303.8			753.3			608.4
Japanese Stocks		1,876.3			394.5			1,481.7			1,884.7
Japanese Bonds		(54.4	)		7.0			(61.4	)		(77.3	)
Japanese Government Bonds		(17.5	)		14.3			(31.9	)		(32.0	)
Other		(764.7	)		(97.8	)		(666.9	)		(1,198.9	)
Foreign Bonds		(632.6	)		(52.0	)		(580.5	)		(1,064.0	)

Non-Consolidated

Aggregate Figures for the 2 Banks


	(Billions of yen)
	As of December 31, 2023						As of March 31, 2023			As of September 30, 2023 (Reference)
	Unrealized Gains/Losses						Unrealized Gains/Losses			Unrealized Gains/Losses
				Change			Unrealized Gains/Losses			Unrealized Gains/Losses
Other Securities		979.6			285.7			693.8			534.7
Japanese Stocks		1,800.2			377.9			1,422.3			1,812.6
Japanese Bonds		(54.4	)		7.0			(61.4	)		(77.3	)
Japanese Government Bonds		(17.5	)		14.3			(31.9	)		(32.0	)
Other		(766.1	)		(99.1	)		(666.9	)		(1,200.4	)
Foreign Bonds		(633.1	)		(52.4	)		(580.7	)		(1,064.8	)

2-6

Mizuho Financial Group, Inc.

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

Consolidated


	(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		34.9		(8.9	)		43.8		39.3
Claims with Collection Risk		642.3		(13.0	)		655.3		615.4
Claims for Special Attention		500.5		128.1			372.4		504.8
Loans Past Due for 3 Months or More		0.7		0.4			0.2		3.5
Restructured Loans		499.8		127.6			372.1		501.3
Sub-total[1]		1,177.8		106.1			1,071.6		1,159.6
Normal Claims		104,296.1		3,839.0			100,457.0		104,799.7

Total[2]		105,473.9		3,945.2			101,528.7		105,959.3


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		99.5		12.3			87.2		106.9

	(%)
NPL ratio[1]/[2]		1.11		0.06			1.05		1.09

Trust Account


		(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		—		—			—		—
Claims with Collection Risk		—		—			—		—
Claims for Special Attention		—		—			—		—
Loans Past Due for 3 Months or More		—		—			—		—
Restructured Loans		—		—			—		—
Sub-total[3]		—		—			—		—
Normal Claims		2.3		(0.4	)		2.8		2.4

Total[4]		2.3		(0.4	)		2.8		2.4


								(%)
NPL ratio[3]/[4]		—		—			—		—

2-7

Mizuho Financial Group, Inc.

Consolidated + Trust Account


		(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		34.9		(8.9	)		43.8		39.3
Claims with Collection Risk		642.3		(13.0	)		655.3		615.4
Claims for Special Attention		500.5		128.1			372.4		504.8
Loans Past Due for 3 Months or More		0.7		0.4			0.2		3.5
Restructured Loans		499.8		127.6			372.1		501.3
Sub-total[5]		1,177.8		106.1			1,071.6		1,159.6
Normal Claims		104,298.4		3,838.6			100,459.8		104,802.2

Total[6]		105,476.3		3,944.8			101,531.5		105,961.8


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

Amount of Partial Direct Write-offs		99.5		12.3			87.2		106.9

	(%)
NPL ratio[5]/[6]		1.11		0.06			1.05		1.09

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

2-8

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)


	(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		24.6		(9.3	)		34.0		28.5
Claims with Collection Risk		650.4		(8.0	)		658.4		617.4
Claims for Special Attention		508.2		153.2			354.9		505.4
Loans Past Due for 3 Months or More		0.7		0.4			0.2		3.5
Restructured Loans		507.4		152.8			354.6		501.9
Sub-total[1]		1,183.3		135.8			1,047.4		1,151.4
Normal Claims		107,453.1		4,340.8			103,112.2		107,851.6

Total[2]		108,636.4		4,476.6			104,159.7		109,003.1


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

Amount of Partial Direct Write-offs		97.0		12.2			84.7		104.3

	(%)
NPL ratio[1]/[2]		1.08		0.08			1.00		1.05

Mizuho Bank

	(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors		24.4		(9.3	)		33.8		28.4
Claims with Collection Risk		643.8		(7.3	)		651.2		610.0
Claims for Special Attention		503.0		156.3			346.6		500.0
Loans Past Due for 3 Months or More		0.7		0.4			0.2		3.5
Restructured Loans		502.2		155.8			346.3		496.4
Sub-total[3]		1,171.3		139.6			1,031.7		1,138.5
Normal Claims		104,525.5		4,486.3			100,039.2		104,893.4

Total[4]		105,696.9		4,625.9			101,071.0		106,031.9


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		96.7		12.1			84.5		104.1

	(%)
NPL ratio[3]/[4]		1.10		0.08			1.02		1.07

2-9

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)


	(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors		0.1	(0.0	)	0.1	0.1
Claims with Collection Risk		6.5	(0.7	)	7.2	7.3
Claims for Special Attention		5.2	(3.0	)	8.2	5.4
Loans Past Due for 3 Months or More		—	—		—	—
Restructured Loans		5.2	(3.0	)	8.2	5.4
Sub-total[5]		11.9	(3.7	)	15.7	12.9
Normal Claims		2,925.1	(145.0	)	3,070.2	2,955.7

Total[6]		2,937.1	(148.7	)	3,085.9	2,968.7


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

Amount of Partial Direct Write-offs		0.2	0.0		0.2	0.2

	(%)
NPL ratio[5]/[6]		0.40	(0.10	)	0.50	0.43

(Trust Account)

	(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors		—	—		—	—
Claims with Collection Risk		—	—		—	—
Claims for Special Attention		—	—		—	—
Loans Past Due for 3 Months or More		—	—		—	—
Restructured Loans		—	—		—	—
Sub-total[7]		—	—		—	—
Normal Claims		2.3	(0.4	)	2.8	2.4

Total[8]		2.3	(0.4	)	2.8	2.4


	(%)
NPL ratio[7]/[8]		—	—		—	—

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

2-10

Mizuho Financial Group, Inc.

5. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks


	(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
MHBK		142,992.5		(2,165.3	)		145,157.9		141,361.6
MHTB		2,592.4		(187.5	)		2,780.0		2,801.9

Total		145,585.0		(2,352.9	)		147,937.9		144,163.5

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks


	(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
MHBK		113,609.1		(2,793.6	)		116,402.8		111,528.2
Individual deposits		48,564.1		1,255.6			47,308.5		47,786.6
MHTB		2,592.4		(187.5	)		2,780.0		2,801.9
Individual deposits		752.7		(21.4	)		774.2		768.8

Total		116,201.6		(2,981.2	)		119,182.8		114,330.1

Individual deposits		49,316.9		1,234.1			48,082.7		4,855.4

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

(2) Loans and Bills Discounted

Aggregate Figures for the 2 Banks


	(Billions of yen)
	As of December 31, 2023		Change			As of March 31, 2023		As of September 30, 2023 (Reference)
MHBK		90,755.5		3,475.2			87,280.3		90,399.9
MHTB		2,913.8		(151.9	)		3,065.7		2,946.9

Total		93,669.4		3,323.2			90,346.1		93,346.8

Note: Loans to MHFG are included as follows:

As of December 31, 2023: ¥631.0 billion (from MHBK)

As of September 30, 2023: ¥444.0 billion (from MHBK)

As of March 31, 2023: ¥810.0 billion (from MHBK)

2-11

Mizuho Financial Group, Inc.

(3) Interest Margins (Domestic Operations)


		(%)
		Third Quarter of Fiscal 2023 (Accumulated Period)					Third Quarter of Fiscal 2022 (Accumulated Period)
Mizuho Bank				Change
Return on Loans and Bills Discounted	1		0.75		(0.01	)		0.76
Cost of Deposits	2		0.00		(0.00	)		0.00

Loan and Deposit Rate Margin [1]-[2]	3		0.75		(0.01	)		0.76


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

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


Return on Loans and Bills Discounted	4	0.77	(0.00	)	0.77
Loan and Deposit Rate Margin [4]-[2]	5	0.76	(0.00	)	0.77



		(%)
		Third Quarter of Fiscal 2023 (Accumulated Period)					Third Quarter of Fiscal 2022 (Accumulated Period)
Mizuho Trust & Banking				Change
Return on Loans and Bills Discounted	6		0.62		0.01			0.60
Cost of Deposits	7		0.00		(0.00	)		0.00

Loan and Deposit Rate Margin [6]-[7]	8		0.61		0.02			0.59


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	0.62	0.01	0.60
Loan and Deposit Rate Margin [9]-[7]	10	0.61	0.02	0.59


(Reference)		(%)
		Third Quarter of Fiscal 2023 (Accumulated Period)					Third Quarter of Fiscal 2022 (Accumulated Period)
Aggregate Figures for the 2 Banks				Change

Return on Loans and Bills Discounted	11		0.74		(0.00	)		0.75
Cost of Deposits	12		0.00		(0.00	)		0.00

Loan and Deposit Rate Margin [11]-[12]	13		0.74		(0.00	)		0.75


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

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


Return on Loans and Bills Discounted	14	0.76	(0.00	)	0.76
Loan and Deposit Rate Margin [14]-[12]	15	0.76	(0.00	)	0.76

2-12

Mizuho Bank, Ltd.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK


	Millions of yen
	As of December 31, 2023 (A)			As of March 31, 2023 (B)			Change (A) - (B)
Assets
Cash and Due from Banks	¥	63,260,167		¥	63,079,031		¥	181,136
Call Loans		1,568,697			1,812,740			(244,043	)
Receivables under Resale Agreements		4,267,301			868,058			3,399,243
Guarantee Deposits Paid under Securities Borrowing Transactions		157,713			156,807			906
Other Debt Purchased		727,712			651,514			76,197
Trading Assets		6,606,618			5,422,696			1,183,921
Money Held in Trust		505			504			0
Securities		38,968,799			37,110,218			1,858,580
Loans and Bills Discounted		90,755,583			87,280,378			3,475,204
Foreign Exchange Assets		2,195,362			2,293,584			(98,221	)
Derivatives other than for Trading		8,249,423			8,392,051			(142,627	)
Other Assets		6,604,445			7,910,755			(1,306,310	)
Tangible Fixed Assets		867,636			858,037			9,599
Intangible Fixed Assets		385,774			352,884			32,889
Prepaid Pension Cost		354,182			403,530			(49,347	)
Deferred Tax Assets		255,948			382,227			(126,279	)
Customers’ Liabilities for Acceptances and Guarantees		11,228,918			10,003,767			1,225,150
Reserves for Possible Losses on Loans		(674,787	)		(701,652	)		26,865

Total Assets	¥	235,780,003		¥	226,277,135		¥	9,502,867

Liabilities
Deposits	¥	142,992,551		¥	145,157,919		¥	(2,165,367	)
Negotiable Certificates of Deposit		17,203,405			13,272,253			3,931,151
Call Money		773,013			1,229,224			(456,210	)
Payables under Repurchase Agreements		19,607,811			14,106,366			5,501,444
Guarantee Deposits Received under Securities Lending Transactions		37,714			93,216			(55,501	)
Commercial Paper		1,541,661			1,782,111			(240,449	)
Trading Liabilities		5,262,140			4,574,447			687,693
Borrowed Money		13,897,439			12,507,802			1,389,637
Foreign Exchange Liabilities		1,171,546			889,189			282,357
Bonds and Notes		613,264			585,861			27,403
Derivatives other than for Trading		9,563,671			8,976,741			586,930
Other Liabilities		5,025,451			6,320,855			(1,295,404	)
Reserve for Bonus Payments		4,940			26,406			(21,466	)
Reserve for Variable Compensation		601			757			(155	)
Reserve for Possible Losses on Sales of Loans		21,794			15,049			6,745
Reserve for Contingencies		3,757			4,781			(1,024	)
Reserve for Reimbursement of Deposits		10,358			12,980			(2,622	)
Reserve for Reimbursement of Debentures		5,501			7,798			(2,296	)
Deferred Tax Liabilities for Revaluation Reserve for Land		57,986			58,711			(724	)
Acceptances and Guarantees		11,228,918			10,003,767			1,225,150

Total Liabilities		229,023,531			219,626,240			9,397,290

Net Assets
Common Stock and Preferred Stock		1,404,065			1,404,065			—
Capital Surplus		2,259,392			2,259,392			—
Capital Reserve		660,805			660,805			—
Other Capital Surplus		1,598,587			1,598,587			—
Retained Earnings		2,676,029			2,757,032			(81,003	)
Appropriated Reserve		524,533			421,264			103,269
Other Retained Earnings		2,151,495			2,335,768			(184,272	)
Retained Earnings Brought Forward		2,151,495			2,335,768			(184,272	)

Total Shareholders’ Equity		6,339,487			6,420,490			(81,003	)

Net Unrealized Gains (Losses) on Other Securities, net of Taxes		650,198			468,873			181,324
Net Deferred Hedge Gains (Losses), net of Taxes		(361,005	)		(367,790	)		6,785
Revaluation Reserve for Land, net of Taxes		127,792			129,321			(1,529	)

Total Valuation and Translation Adjustments		416,984			230,404			186,579

Total Net Assets		6,756,471			6,650,894			105,576

Total Liabilities and Net Assets	¥	235,780,003		¥	226,277,135		¥	9,502,867

2-13

Mizuho Bank, Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK


	Millions of yen
	For the nine months ended December 31, 2023 (A)		For the nine months ended December 31, 2022 (B)		Change (A) - (B)
Ordinary Income	¥	4,183,269	¥	2,452,241	¥	1,731,028
Interest Income		3,336,873		1,711,852		1,625,020
Interest on Loans and Bills Discounted		1,855,379		1,075,050		780,329
Interest and Dividends on Securities		435,978		252,269		183,708
Fee and Commission Income		462,413		417,489		44,924
Trading Income		131,236		159		131,076
Other Operating Income		120,051		230,724		(110,673	)
Other Ordinary Income		132,695		92,015		40,680

Ordinary Expenses		3,579,295		1,960,516		1,618,779
Interest Expenses		2,709,975		1,068,081		1,641,893
Interest on Deposits		1,179,758		467,139		712,619
Fee and Commission Expenses		156,501		132,135		24,365
Trading Expenses		447		6,827		(6,380	)
Other Operating Expenses		30,974		104,467		(73,492	)
General and Administrative Expenses		585,067		541,093		43,973
Other Ordinary Expenses		96,329		107,909		(11,580	)

Ordinary Profits		603,973		491,724		112,249

Extraordinary Gains		42,110		40,014		2,095

Extraordinary Losses		2,351		8,261		(5,909	)

Income before Income Taxes		643,732		523,478		120,253
Income Taxes:
Current		171,232		11,643		159,588
Deferred		38,683		132,067		(93,384	)

Net Income	¥	433,816	¥	379,767	¥	54,049

2-14