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 May 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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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.

 

For Immediate Release:

 

		Consolidated Financial Statements for Fiscal 2023 (Under Japanese GAAP)

 

Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		May 15, 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

Ordinary General Meeting of Shareholders (scheduled) :		June 26, 2024		Commencement of Dividend Payment (scheduled): June 6, 2024
Filing of Yuka Shoken Hokokusho to  the Kanto Local Finance Bureau (scheduled):		June 19, 2024		Trading Accounts: Established
Supplementary Materials on Annual Results:		Attached
IR Conference on Annual Results:		Scheduled
Amounts less than one million yen are rounded down.

1. Financial Highlights for Fiscal 2023 (for the fiscal year ended March 31, 2024)

(1) Consolidated Results of Operations

 

(%: Changes from the previous fiscal year)
		Ordinary Income								Ordinary Profits								Profit Attributable to Owners of Parent
		¥ million				%				¥ million				%				¥ million				%
Fiscal 2023			8,744,458				51.3				914,047				15.7				678,993				22.2
Fiscal 2022			5,778,772				45.8				789,606				41.0				555,527				4.7

 

Note:		Comprehensive Income: Fiscal 2023: ¥1,345,039 million, 384.4%; Fiscal 2022: ¥277,666 million, 489.2%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock				Net Income on Own Capital				Ordinary Profits to Total Assets				Ordinary Profits to Ordinary Income
		¥				¥				%				%				%
Fiscal 2023			267.88				267.88				7.0				0.3				10.4
Fiscal 2022			219.20				219.19				6.1				0.3				13.6

 

Reference:		Equity in Income from Investments in Affiliates: Fiscal 2023: ¥26,221 million; Fiscal 2022: ¥11,889 million

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio				Total Net Assets per Share of Common Stock
		¥ million				¥ million				%				¥
Fiscal 2023			278,672,151				10,312,135				3.6				4,037.28
Fiscal 2022			254,258,203				9,208,463				3.5				3,603.98

Reference:		Own Capital: As of March 31, 2024: ¥ 10,232,538 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.

(3) Conditions of Consolidated Cash Flows

 

		Cash Flows from Operating Activities				Cash Flows from Investing Activities				Cash Flows from Financing Activities				Cash and Cash Equivalents at the end of the fiscal year
		¥ million				¥ million				¥ million				¥ million
Fiscal 2023			1,884,978				1,982,207				(230,990	)			71,165,815
Fiscal 2022			8,867,246				6,605,667				(611,143	)			65,825,681

2. Cash Dividends for Shareholders of Common Stock

 

		Annual Cash Dividends per Share																				Total Cash Dividends (Total)				Dividends Pay-out Ratio (Consolidated basis)				Dividends on Net Assets (Consolidated basis)
		First quarter-end				Second quarter-end				Third quarter-end				Fiscal year-end				Annual
		¥				¥				¥				¥				¥				¥ million				%				%
Fiscal 2022			—				42.50				—				42.50				85.00				215,772				38.7				2.3
Fiscal 2023			—				50.00				—				55.00				105.00				266,529				39.1				2.7
Fiscal 2024 (estimate)			—				57.50				—				57.50				115.00								38.9

3. Consolidated Earnings Estimates for Fiscal 2024 (for the fiscal year ending March 31, 2025)

 

(%: Changes from the corresponding period of the previous fiscal year)
		Profit Attributable to Owners of Parent								Net Income per Share of Common Stock
		¥ million				%				¥
1H F2024			—				—				—
Fiscal 2024			750,000				10.4				295.79

Note:		The number of shares of common stock used in the above calculation is based on the number of outstanding shares of common stock (excluding treasury stock and others) as of March 31, 2024.

Notes

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

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

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

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

  iii. Changes in accounting estimates: No

  iv. Restatements: No

  Note: For more information, please refer to “Changes in Accounting Policies” on page 1 – 14 of the attachment.

(3) Issued Shares of Common Stock

 

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

As of March 31, 2024

2,539,249,894 shares

As of March 31, 2023

2,539,249,894 shares

ii . Year-end treasury stock:

As of March 31, 2024

4,739,805 shares

As of March 31, 2023

5,027,306 shares

iii. Average number of outstanding shares:

Fiscal 2023

2,534,673,803 shares

Fiscal 2022

2,534,340,257 shares

This immediate release is outside the scope of the audit.

 

 

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.		Overview of Consolidated Results of Operations and Financial Conditions			p.1-2
		(1) Overview of Results of Operations			p.1-2
		(2) Overview of Financial Conditions			p.1-3
		(3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2023 and Dividend Estimates for Fiscal 2024			p.1-3
2.		Basic Stance on Selection of Accounting Standards			p.1-4
3.		Consolidated Financial Statements and Others			p.1-5
		(1) Consolidated Balance Sheets			p.1-5
		(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			p.1-7
		(3) Consolidated Statements of Changes in Net Assets			p.1-10
		(4) Consolidated Statements of Cash Flows			p.1-12
		(5) Notes regarding Consolidated Financial Statements			p.1-14
		(Matters Related to the Assumption of Going Concern)
		(Changes in Accounting Policies)
		(Business Segment Information)
		(Per Share Information)
		(Subsequent Events)

Note to XBRL

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

An MHFG IR conference for institutional investors and analysts is scheduled for Monday, May 20, 2024. The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group website immediately after the conference.

 

1-1

Mizuho Financial Group, Inc.

 

1. Overview of Consolidated Results of Operations and Financial Conditions

(1) Overview of Results of Operations

Reviewing the economic environment over the fiscal year ended March 31, 2024, although the impact of steep inflation and consequent monetary tightening materialized in Europe and the United States, the U.S. economy remained strong, reflecting sustained steady consumer spending supported by a subsequent slowdown in inflation and a favorable income environment. Meanwhile, consumption and corporate activities stagnated in Europe. In China, the economy lacked momentum, as the prolonged adjustment of the real estate market depressed the economy.

In the United States, the economy continued to grow steadily, mainly in terms of consumption, even under steep inflation and sudden monetary tightening by the Federal Reserve Board (FRB) in response thereto. On the other hand, inflation has slowed steadily as a result of the easing of labor and supply shortages due to companies’ increased production capacity, which was enabled by increased investment, and increased labor force participation. Based on these circumstances, the FRB has left the policy interest rate unchanged since the rate hike at the meeting of the Federal Open Market Committee (FOMC) held in July 2023. However, since there are concerns that the rise in crude oil prices and other factors will extend to commodity prices, the FRB will determine future policies carefully while keeping an eye on the inflation and economic conditions.

In Europe, the economy slowed down while continuing to exhibit low growth. Consumer spending was stagnant and the impact of monetary tightening has exerted downward pressure on companies’ investment demand. In addition, inflation slowed as a result of a pause in the passing of rising energy costs onto consumers and the deteriorating economy. Since July 2022, the European Central Bank (ECB) has rapidly raised its policy interest rate; however, the ECB has left such rate unchanged since its October 2023 meeting in response to the slowdown in inflation. Nevertheless, the tightening of labor market conditions continues and the risk of a resurgence in wages and price inflation remains.

In Asia, the economy is lacking momentum. In China, although infrastructure related investment supported the economy, prolonged adjustment in the real estate market and weak consumer spending resulted in an economy that lacked momentum. In addition, considering China’s ongoing conflicts with the United States, there remains a high degree of uncertainty with respect to issues such as trade and national security. In emerging economies, economic slowdown is coming to a halt in light of the improved market conditions for semiconductors. However, due to factors such as the slowdown of the global economy and the impact of monetary tightening, the economy has not yet fully recovered.

In Japan, economic recovery has been stagnant due to sluggish consumer spending resulting from price increases, and sluggish production activities of manufacturers due to slowdown of overseas economies. Going forward, however, the economy is expected to head toward gradual recovery with the support of investment demands that respond to changes in the economic structure, such as decarbonization-related investment. In addition to such circumstances, and in light of wage increases implemented by companies, the Bank of Japan decided to abolish yield curve control and to end negative interest rates. It is expected that the Bank of Japan will continue to determine its monetary policy by assessing developments concerning wages and prices and trends of the economy going forward.

The prospects for the growth of the global economy are expected to remain gradual, reflecting the impact of monetary tightening in Europe and the United States and the slowdown of growth in China. On the other hand, depending on the circumstances, such as sudden economic deterioration and disruption of the financial system resulting from acceleration of inflation due to a spiral of increasing wages resulting from a tighter labor market and price increases, and further monetary tightening, particularly in Europe and the United States, increasing tensions with respect to the situations in the Ukraine and the Middle East, there is a possibility of financial and capital market disruption and the risk of further economic downturn, which may also adversely affect the Japanese economy.

Under the foregoing business environment, we recorded Consolidated Gross Profits of ¥2,703.3 billion for fiscal 2023, increasing by ¥424.8 billion from the previous fiscal year mainly due to the strong performance in both Customer Groups and Markets as a result of growth in interest, solutions and IB-related income alongside market tailwinds.

General and Administrative Expenses increased by ¥218.6 billion on a year-on-year basis to ¥1,663.9 billion mainly due to the resource deployment to growth areas and governance-related costs, as well as external factors such as Yen depreciation and inflation.

 

1-2

Mizuho Financial Group, Inc.

 

As a result, Consolidated Net Business Profits increased by ¥231.5 billion on a year-on-year basis to ¥1,036.8 billion. Consolidated Net Business Profits + Net Gains (Losses) related to ETFs and others, which consists of Consolidated Net Business Profits, Net Gains (Losses) related to ETFs and others on a non-consolidated aggregated basis of the banks, and Net Gains (Losses) related to operating investment securities on a consolidated basis of Mizuho Securities Co., Ltd., increased by ¥198.6 billion on a year-on-year basis to ¥1,005.8 billion.

Credit-related Costs increased by ¥17.0 billion on a year-on-year basis to ¥106.3 billion mainly due to the expenses incurred both domestically and overseas, offset in part by the reversal of forward-looking reserves in light of the improved future outlook for the business environment in certain industries.

Net Gains (Losses) related to Stocks decreased by ¥62.8 billion on a year-on-year basis to net gains of ¥23.6 billion mainly due to the negative impact from the cancellation of bear funds intended on fixing unrealized gain on stocks, offset in part by the steady progress in the sale of cross-holding stocks.

As a result, Ordinary Profits increased by ¥124.4 billion on a year-on-year basis to ¥914.0 billion.

Extraordinary Gains (Losses) increased by ¥51.6 billion on a year-on-year basis to net gains of ¥40.9 billion mainly due to the elimination of the impact of losses on impairment of fixed assets in the previous fiscal year.

Tax-related Expenses increased by ¥52.9 billion on a year-on-year basis to ¥271.7 billion.

As a result, Profit Attributable to Owners of Parent for fiscal 2023 increased by ¥123.4 billion on a year-on-year basis to ¥678.9 billion.

As for earnings estimates for fiscal 2024, we estimate Ordinary Profits of ¥1,050.0 billion and Profit Attributable to Owners of Parent of ¥750.0 billion on a consolidated basis.

We will disclose promptly if we need to revise the above consolidated earnings estimates.

(2) Overview of Financial Conditions

Consolidated Total Assets as of March 31, 2024 amounted to ¥278,672.1 billion, increasing by ¥24,413.9 billion from the end of the previous fiscal year mainly due to an increase in Receivables under Resale Agreements.

Securities amounted to ¥38,245.4 billion, increasing by ¥882.2 billion from the end of the previous fiscal year. Loans and Bills Discounted amounted to ¥92,778.7 billion, increasing by ¥4,091.6 billion from the end of the previous fiscal year. Deposits and Negotiable Certificates of Deposit amounted to ¥171,445.2 billion, increasing by ¥7,157.8 billion from the end of the previous fiscal year.

Net Assets amounted to ¥10,312.1 billion, increasing by ¥1,103.6 billion from the end of the previous fiscal year. Shareholders’ Equity was ¥8,915.9 billion, Accumulated Other Comprehensive Income was ¥1,316.5 billion, and Non-controlling Interests was ¥79.5 billion.

Net Cash Provided by Operating Activities was ¥1,884.9 billion mainly due to increased Call Money. Net Cash Provided in Investing Activities was ¥1,982.2 billion mainly due to purchase, sale and redemption of securities, and Net Cash Used in Financing Activities was ¥230.9 billion mainly due to the redemption of subordinated bonds.

As a result, Cash and Cash Equivalents as of March 31, 2024 was ¥71,165.8 billion.

(3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2023 and Dividend Estimates for Fiscal 2024

Based on our capital management policy of pursuing the optimum balance between capital adequacy, growth investment and enhancement of shareholder return, we maintain our shareholder return policy of progressive dividends as our principal approach while executing flexible and intermittent share buybacks. In addition, as for the dividends, we will decide based on the steady growth of our stable earnings base, taking 40% of the dividend payout ratio as a guide into consideration. As for share buybacks, we will consider our business results and capital adequacy, our stock price and the opportunities for growth investment in determining the execution.

Based on this policy, at the meeting of the Board of Directors held today, we have decided to issue ¥55.0 of year-end cash dividends on common stock for Fiscal 2023 (annual cash dividends of ¥105.0 including interim dividends of ¥50.0), an increase of ¥5.0 from the most recent Dividend Estimate, based on the fact that Profit Attributable to Owners of Parent for Fiscal 2023 was ¥678.9 billion.

Consolidated Common Equity Tier 1 capital ratio (Basel III finalization basis, excluding Net Unrealized Gains (Losses) on Other Securities) was 9.8%, thus again fulfilling the lower end of the 9-10% range that we consider as the necessary level.

 

1-3

Year-end cash dividends on Common Stock		¥55.0 per share		(Increase of ¥5.0 from the most recent Dividend Estimate)
Annual cash dividends incl. interim dividends		¥105.0 per share		(Increase of ¥5.0 from the most recent Dividend Estimate)

Meanwhile, in accordance with the Articles of Incorporation, we may decide to issue dividends by resolution of the Board of Directors unless otherwise stipulated by laws and regulations.

As for the dividend estimates of common stock for Fiscal 2024, we predict ¥115.0 per share of common stock, which is an increase of ¥10.0 from Fiscal 2023. We intend to continue payments of cash dividends at the interim period to return profits to our shareholders in a timely manner.

 

(Dividend Estimates for Fiscal 2024)
Common Stock		Cash Dividends per Share		¥	115.0			(Increase of ¥10.0 from Fiscal 2023)
		of which Interim and Year-end Dividends		¥	57.5			each

2. Basic Stance on Selection of Accounting Standards

MHFG prepares its consolidated financial statements in accordance with Japanese Generally Accepted Accounting Principles. With respect to International Financial Reporting Standards (IFRS), in light of possible adoption in the future, MHFG is continuing research and study on the situation in Japan and overseas and/or the development of IFRS.

 

1-4

Mizuho Financial Group, Inc.

 

3. Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

 

		Millions of yen
		As of March 31, 2023				As of March 31, 2024
Assets
Cash and Due from Banks		¥	67,152,100			¥	72,968,900
Call Loans and Bills Purchased			1,386,895				1,259,964
Receivables under Resale Agreements			11,693,419				20,533,096
Guarantee Deposits Paid under Securities Borrowing Transactions			1,897,429				2,357,463
Other Debt Purchased			3,836,735				4,174,891
Trading Assets			17,404,494				21,381,444
Money Held in Trust			514,607				583,647
Securities			37,363,140				38,245,422
Loans and Bills Discounted			88,687,155				92,778,781
Foreign Exchange Assets			2,408,587				2,259,701
Derivatives other than for Trading Assets			2,184,875				2,606,667
Other Assets			8,689,547				7,364,363
Tangible Fixed Assets			1,105,851				1,139,470
Buildings			325,241				330,325
Land			618,787				613,649
Lease Assets			6,333				16,423
Construction in Progress			43,679				47,074
Other Tangible Fixed Assets			111,808				131,997
Intangible Fixed Assets			572,719				725,142
Software			375,322				383,863
Goodwill			49,613				116,417
Lease Assets			2,098				4,421
Other Intangible Fixed Assets			145,685				220,440
Net Defined Benefit Asset			859,271				847,116
Deferred Tax Assets			316,168				135,428
Customers’ Liabilities for Acceptances and Guarantees			8,905,643				10,098,502
Reserves for Possible Losses on Loans			(720,437	)			(787,848	)
Reserve for Possible Losses on Investments			(1	)			(4	)
Total Assets		¥	254,258,203			¥	278,672,151

 

1-5

Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2023				As of March 31, 2024
Liabilities
Deposits		¥	150,498,976			¥	159,854,668
Negotiable Certificates of Deposit			13,788,347				11,590,532
Call Money and Bills Sold			1,814,873				1,660,682
Payables under Repurchase Agreements			25,735,560				38,103,216
Guarantee Deposits Received under Securities Lending Transactions			757,842				1,306,422
Commercial Paper			1,782,111				1,165,988
Trading Liabilities			12,698,007				13,836,028
Borrowed Money			4,155,480				5,449,852
Foreign Exchange Liabilities			671,552				900,034
Short-term Bonds			477,141				565,736
Bonds and Notes			11,371,189				11,999,712
Due to Trust Accounts			1,534,097				983,877
Derivatives other than for Trading Liabilities			2,749,138				3,818,518
Other Liabilities			7,777,025				6,618,151
Reserve for Bonus Payments			126,694				185,977
Reserve for Variable Compensation			2,381				2,527
Net Defined Benefit Liability			68,429				67,151
Reserve for Director and Corporate Auditor Retirement Benefits			539				541
Reserve for Possible Losses on Sales of Loans			15,049				8,645
Reserve for Contingencies			13,706				19,321
Reserve for Reimbursement of Deposits			13,695				10,378
Reserve for Reimbursement of Debentures			7,798				25,125
Reserves under Special Laws			3,352				3,781
Deferred Tax Liabilities			22,391				27,058
Deferred Tax Liabilities for Revaluation Reserve for Land			58,711				57,583
Acceptances and Guarantees			8,905,643				10,098,502
Total Liabilities		¥	245,049,740			¥	268,360,016
Net Assets
Common Stock		¥	2,256,767			¥	2,256,767
Capital Surplus			1,129,267				1,129,730
Retained Earnings			5,093,911				5,538,891
Treasury Stock			(8,786	)			(9,402	)
Total Shareholders’ Equity			8,471,160				8,915,987
Net Unrealized Gains (Losses) on Other Securities			564,495				929,815
Deferred Gains (Losses) on Hedges			(358,102	)			(298,280	)
Revaluation Reserve for Land			129,321				126,879
Foreign Currency Translation Adjustments			144,093				344,250
Remeasurements of Defined Benefit Plans			182,306				214,337
Own Credit Risk Adjustments, Net of Tax			19				(452	)
Total Accumulated Other Comprehensive Income			662,133				1,316,550
Stock Acquisition Rights			5				5
Non-controlling Interests			75,163				79,591
Total Net Assets			9,208,463				10,312,135
Total Liabilities and Net Assets		¥	254,258,203			¥	278,672,151

 

1-6

Mizuho Financial Group, Inc.

 

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

Consolidated Statements of Income

 

		Millions of yen
		For the fiscal year ended March 31, 2023				For the fiscal year ended March 31, 2024
Ordinary Income		¥	5,778,772			¥	8,744,458
Interest Income			3,178,214				5,772,536
Interest on Loans and Bills Discounted			1,750,984				2,787,517
Interest and Dividends on Securities			392,104				674,386
Interest on Call Loans and Bills Purchased			13,898				33,521
Interest on Receivables under Resale Agreements			281,313				721,327
Interest on Securities Borrowing Transactions			22,411				44,916
Interest on Due from Banks			498,504				1,060,345
Other Interest Income			218,996				450,521
Fiduciary Income			58,958				61,487
Fee and Commission Income			915,534				1,060,235
Trading Income			992,631				1,090,397
Other Operating Income			452,853				360,724
Other Ordinary Income			180,579				399,078
Recovery of Written-off Claims			7,730				5,511
Other			172,848				393,566
Ordinary Expenses			4,989,165				7,830,410
Interest Expenses			2,217,636				4,884,924
Interest on Deposits			840,042				1,738,287
Interest on Negotiable Certificates of Deposit			209,222				520,886
Interest on Call Money and Bills Sold			17,140				22,927
Interest on Payables under Repurchase Agreements			651,987				1,754,457
Interest on Securities Lending Transactions			8,734				27,635
Interest on Commercial Paper			51,776				83,741
Interest on Borrowed Money			34,377				66,293
Interest on Short-term Bonds			71				112
Interest on Bonds and Notes			238,031				315,392
Other Interest Expenses			166,251				355,187
Fee and Commission Expenses			163,841				203,627
Trading Expenses			657,923				363,813
Other Operating Expenses			280,386				189,710
General and Administrative Expenses			1,445,283				1,663,951
Other Ordinary Expenses			224,095				524,383
Provision for Reserves for Possible Losses on Loans			65,698				78,672
Other			158,396				445,710
Ordinary Profits		¥	789,606			¥	914,047

 

1-7

Mizuho Financial Group, Inc.

 

		Millions of yen
		For the fiscal year ended March 31, 2023				For the fiscal year ended March 31, 2024
Extraordinary Gains		¥	50,888			¥	58,684
Gains on Disposition of Fixed Assets			3,260				5,946
Gains on Cancellation of Employee Retirement Benefit Trust			47,627				52,738
Extraordinary Losses			61,530				17,697
Losses on Disposition of Fixed Assets			7,462				9,304
Losses on Impairment of Fixed Assets			51,545				7,963
Losses on Sales of Shares of Affiliates			2,301				—
Other Extraordinary Losses			220				429
Income before Income Taxes			778,964				955,035
Income Taxes:
Current			180,716				279,674
Refund of Income Taxes			(9,911	)			(3,480	)
Deferred			48,029				(4,459	)
Total Income Taxes			218,834				271,735
Profit			560,130				683,299
Profit Attributable to Non-controlling Interests			4,602				4,305
Profit Attributable to Owners of Parent		¥	555,527			¥	678,993

 

1-8

Mizuho Financial Group, Inc.

 

Consolidated Statements of Comprehensive Income

 

		Millions of yen
		For the fiscal year ended March 31, 2023				For the fiscal year ended March 31, 2024
Profit		¥	560,130			¥	683,299
Other Comprehensive Income (Loss)			(282,463	)			661,740
Net Unrealized Gains (Losses) on Other Securities			(157,244	)			367,374
Deferred Gains (Losses) on Hedges			(281,515	)			60,598
Foreign Currency Translation Adjustments			127,170				190,357
Remeasurements of Defined Benefit Plans			13,298				28,852
Own Credit Risk Adjustments, Net of Tax			42				(471	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			15,783				15,030
Comprehensive Income			277,666				1,345,039
(Breakdown)
Comprehensive Income Attributable to Owners of Parent			273,298				1,335,852
Comprehensive Income Attributable to Non-controlling Interests			4,368				9,187

 

1-9

Mizuho Financial Group, Inc.

 

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2023

 

		Millions of yen
		Shareholders’ Equity
		Common Stock				Capital Surplus				Retained Earnings				Treasury Stock				Total Shareholders’ Equity
Balance as of the beginning of the period			2,256,767				1,125,324				4,756,435				(8,342	)			8,130,185
Changes during the period
Cash Dividends											(209,432	)							(209,432	)
Profit Attributable to Owners of Parent											555,527								555,527
Repurchase of Treasury Stock															(2,314	)			(2,314	)
Disposition of Treasury Stock							(255	)							1,870				1,615
Transfer from Revaluation Reserve for Land											2,834								2,834
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders							4,064												4,064
Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others											(11,319	)							(11,319	)
Transfer from Retained Earnings to Capital Surplus							134				(134	)							—
Net Changes in Items other than Shareholders’ Equity
Total Changes during the period			—				3,943				337,475				(443	)			340,975
Balance as of the end of the period			2,256,767				1,129,267				5,093,911				(8,786	)			8,471,160

 

		Accumulated Other Comprehensive Income																												Stock Acquisition Rights				Non-Controlling Interests				Total Net Assets
		Net Unrealized Gains (Losses) on Other Securities				Deferred Gains (Losses) on Hedges				Revaluation Reserve for Land				Foreign Currency Translation Adjustments				Remeasurements of Defined Benefit Plans				Own Credit Risk Adjustments, Net of Tax				Total Accumulated Other Comprehensive Income
Balance as of the beginning of the period			719,822				(76,757	)			132,156				2,346				169,652				(23	)			947,197				94				123,555				9,201,031
Changes during the period
Cash Dividends																																							(209,432	)
Profit Attributable to Owners of Parent																																							555,527
Repurchase of Treasury Stock																																							(2,314	)
Disposition of Treasury Stock																																							1,615
Transfer from Revaluation Reserve for Land																																							2,834
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders																																							4,064
Decrease in Retained Earnings by Decreasing of Equity Method Affiliates and Others																																							(11,319	)
Transfer from Retained Earnings to Capital Surplus																																							—
Net Changes in Items other than Shareholders’ Equity			(155,326	)			(281,345	)			(2,834	)			141,746				12,654				42				(285,063	)			(88	)			(48,392	)			(333,544	)
Total Changes during the period			(155,326	)			(281,345	)			(2,834	)			141,746				12,654				42				(285,063	)			(88	)			(48,392	)			7,431
Balance as of the end of the period			564,495				(358,102	)			129,321				144,093				182,306				19				662,133				5				75,163				9,208,463

 

1-10

Mizuho Financial Group, Inc.

 

For the fiscal year ended March 31, 2024

 

		Millions of yen
		Shareholders’ Equity
		Common Stock				Capital Surplus				Retained Earnings				Treasury Stock				Total Shareholders’ Equity
Balance as of the beginning of the period			2,256,767				1,129,267				5,093,911				(8,786	)			8,471,160
Cumulative Effects of Changes in Accounting Policies											(1,883	)							(1,883	)
Balance as of the beginning of the period reflecting Changes in Accounting Policies			2,256,767				1,129,267				5,092,027				(8,786	)			8,469,276
Changes during the period
Cash Dividends											(234,802	)							(234,802	)
Profit Attributable to Owners of Parent											678,993								678,993
Repurchase of Treasury Stock															(3,383	)			(3,383	)
Disposition of Treasury Stock							0								2,766				2,767
Transfer from Revaluation Reserve for Land											2,441								2,441
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders							462												462
Change in Retained Earnings by Decreasing of Equity Method Affiliates and Others											231								231
Net Changes in Items other than Shareholders’ Equity
Total Changes during the period			—				463				446,864				(616	)			446,710
Balance as of the end of the period			2,256,767				1,129,730				5,538,891				(9,402	)			8,915,987

 

		Accumulated Other Comprehensive Income																												Stock Acquisition Rights				Non-Controlling Interests				Total Net Assets
		Net Unrealized Gains (Losses) on Other Securities				Deferred Gains (Losses) on Hedges				Revaluation Reserve for Land				Foreign Currency Translation Adjustments				Remeasurements of Defined Benefit Plans				Own Credit Risk Adjustments, Net of Tax				Total Accumulated Other Comprehensive Income
Balance as of the beginning of the period			564,495				(358,102	)			129,321				144,093				182,306				19				662,133				5				75,163				9,208,463
Cumulative Effects of Changes in Accounting Policies																											—												(1,883	)
Balance as of the beginning of the period reflecting Changes in Accounting Policies			564,495				(358,102	)			129,321				144,093				182,306				19				662,133				5				75,163				9,206,579
Changes during the period
Cash Dividends																																							(234,802	)
Profit Attributable to Owners of Parent																																							678,993
Repurchase of Treasury Stock																																							(3,383	)
Disposition of Treasury Stock																																							2,767
Transfer from Revaluation Reserve for Land																																							2,441
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders																																							462
Change in Retained Earnings by Decreasing of Equity Method Affiliates and Others																																							231
Net Changes in Items other than Shareholders’ Equity			365,319				59,822				(2,441	)			200,157				32,031				(471	)			654,417				—				4,428				658,845
Total Changes during the period			365,319				59,822				(2,441	)			200,157				32,031				(471	)			654,417				—				4,428				1,105,555
Balance as of the end of the period			929,815				(298,280	)			126,879				344,250				214,337				(452	)			1,316,550				5				79,591				10,312,135

 

1-11

Mizuho Financial Group, Inc.

 

(4) Consolidated Statements of Cash Flows

 

		Millions of yen
		For the fiscal  year ended March 31, 2023				For the fiscal  year ended March 31, 2024
Cash Flow from Operating Activities
Income before Income Taxes		¥	778,964			¥	955,035
Depreciation			163,166				173,173
Losses on Impairment of Fixed Assets			51,545				7,963
Amortization of Goodwill			3,771				5,020
Equity in Loss (Gain) from Investments in Affiliates			(11,889	)			(26,221	)
Increase (Decrease) in Reserves for Possible Losses on Loans			(71,488	)			42,729
Increase (Decrease) in Reserve for Possible Losses on Investments			(106	)			3
Increase (Decrease) in Reserve for Possible Losses on Sales of Loans			13,740				(6,403	)
Increase (Decrease) in Reserve for Contingencies			6,115				3,157
Increase (Decrease) in Reserve for Bonus Payments			1,746				49,304
Increase (Decrease) in Reserve for Variable Compensation			102				145
Decrease (Increase) in Net Defined Benefit Asset			69,067				102,323
Increase (Decrease) in Net Defined Benefit Liability			(4,506	)			(1,638	)
Increase (Decrease) in Reserve for Director and Corporate Auditor Retirement Benefits			(17	)			2
Increase (Decrease) in Reserve for Reimbursement of Deposits			(3,924	)			(3,316	)
Increase (Decrease) in Reserve for Reimbursement of Debentures			(2,706	)			17,327
Interest Income—accrual basis			(3,178,214	)			(5,772,536	)
Interest Expenses—accrual basis			2,217,636				4,884,924
Losses (Gains) on Securities			50,633				(24,038	)
Losses (Gains) on Money Held in Trust			22				5
Foreign Exchange Losses (Gains)—net			(662,938	)			(1,061,035	)
Losses (Gains) on Disposition of Fixed Assets			4,202				3,358
Losses (Gains) on Cancellation of Employee Retirement Benefit Trust			(47,627	)			(52,738	)
Decrease (Increase) in Trading Assets			(3,869,757	)			(2,604,912	)
Increase (Decrease) in Trading Liabilities			2,855,475				176,157
Decrease (Increase) in Derivatives other than for Trading Assets			118,439				(341,491	)
Increase (Decrease) in Derivatives other than for Trading Liabilities			(46,028	)			997,746
Decrease (Increase) in Loans and Bills Discounted			(2,092,530	)			(96,019	)
Increase (Decrease) in Deposits			10,000,741				5,381,997
Increase (Decrease) in Negotiable Certificates of Deposit			(3,395,330	)			(3,198,510	)
Increase (Decrease) in Borrowed Money (excluding Subordinated Borrowed Money)			(2,436,997	)			1,278,447
Decrease (Increase) in Due from Banks (excluding Due from Central Banks)			(44,557	)			(324,286	)
Decrease (Increase) in Call Loans, etc.			1,029,697				(7,704,413	)
Decrease (Increase) in Guarantee Deposits Paid under Securities Borrowing Transactions			442,660				(460,034	)
Increase (Decrease) in Call Money, etc.			4,808,324				9,511,807
Increase (Decrease) in Commercial Paper			(155,216	)			(854,467	)
Increase (Decrease) in Guarantee Deposits Received under Securities Lending Transactions			(414,405	)			548,579
Decrease (Increase) in Foreign Exchange Assets			357,779				379,335
Increase (Decrease) in Foreign Exchange Liabilities			(837,977	)			223,630
Increase (Decrease) in Short-term Bonds (Liabilities)			(60,026	)			88,594
Increase (Decrease) in Bonds and Notes			887,829				441,113
Increase (Decrease) in Due to Trust Accounts			366,812				(550,220	)
Interest and Dividend Income—cash basis			3,027,958				5,571,589
Interest Expenses—cash basis			(2,028,391	)			(4,756,988	)
Other—net			1,108,820				(831,529	)
Subtotal			9,000,617				2,172,672
Cash Refunded (Paid) in Income Taxes			(133,371	)			(287,693	)
Net Cash Provided by (Used in) Operating Activities			8,867,246				1,884,978

 

1-12

Mizuho Financial Group, Inc.

 

		Millions of yen
		For the fiscal  year ended March 31, 2023				For the fiscal  year ended March 31, 2024
Cash Flow from Investing Activities
Payments for Purchase of Securities			(80,978,246	)			(78,051,713	)
Proceeds from Sale of Securities			44,652,769				37,149,439
Proceeds from Redemption of Securities			43,032,475				43,228,988
Payments for Increase in Money Held in Trust			(3,843	)			(78,560	)
Proceeds from Decrease in Money Held in Trust			79,409				8,692
Payments for Purchase of Tangible Fixed Assets			(64,845	)			(63,123	)
Payments for Purchase of Intangible Fixed Assets			(118,331	)			(193,888	)
Proceeds from Sale of Tangible Fixed Assets			9,813				12,353
Proceeds from Sale of Intangible Fixed Assets			—				1,240
Payments for Purchase of Stocks of Subsidiaries (affecting the scope of consolidation)			(3,533	)			(39,148	)
Proceeds from Sale of Stocks of Subsidiaries (affecting the scope of consolidation)			—				7,927
Net Cash Provided by (Used in) Investing Activities			6,605,667				1,982,207
Cash Flow from Financing Activities
Proceeds from Subordinated Borrowed Money			20,000				—
Repayments of Subordinated Borrowed Money			(35,000	)			—
Proceeds from Issuance of Subordinated Bonds			208,500				499,000
Payments for Redemption of Subordinated Bonds			(544,615	)			(490,310	)
Proceeds from Investments by Non-controlling Shareholders			2,219				153
Repayments to Non-controlling Shareholders			(324	)			(61	)
Cash Dividends Paid			(209,457	)			(234,786	)
Cash Dividends Paid to Non-controlling Shareholders			(10,459	)			(3,569	)
Payments for Purchase of Stocks of Subsidiaries (not affecting the scope of consolidation)			(41,307	)			(800	)
Payments for Repurchase of Treasury Stock			(2,314	)			(3,383	)
Proceeds from Sale of Treasury Stock			1,615				2,767
Net Cash Provided by (Used in) Financing Activities			(611,143	)			(230,990	)
Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents			827,611				1,703,938
Net Increase (Decrease) in Cash and Cash Equivalents			15,689,381				5,340,133
Cash and Cash Equivalents at the beginning of the fiscal year			50,136,299				65,825,681
Cash and Cash Equivalents at the end of the fiscal year		¥	65,825,681			¥	71,165,815

 

1-13

Mizuho Financial Group, Inc.

 

(5) Notes regarding Consolidated Financial Statements

(Matters Related to the Assumption of Going Concern)

There is no applicable information.

(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 fiscal year ended March 31, 2024. 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 fiscal year ended March 31, 2024 in accordance with transitional treatment set out in the accounting standard.

As a result, at the beginning of the fiscal year ended March 31, 2024, 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. The impact on Per Share Information is immaterial.

 

1-14

Mizuho Financial Group, Inc.

 

(Business Segment Information)

1. Summary of reportable segment

MHFG has introduced an in-house company system based on the group’s diverse customer segments.

The aim of this system is to leverage MHFG’s strengths and competitive advantage, which is the seamless integration of MHFG’s banking, trust and securities functions under a holding company structure, to speedily provide high-quality financial services that closely match customer needs.

Specifically, the company system is classified into the following five in-house companies, each based on a customer segment: the Retail & Business Banking Company (RBC), the Corporate & Investment Banking Company (CIBC), the Global Corporate & Investment Banking Company (GCIBC), the Global Markets Company (GMC), and the Asset Management Company (AMC).

The services that each in-house company is in charge of are as follows:

RBC:

Services for individual customers, small and medium-sized enterprises and middle market firms in Japan

CIBC:

Services for large corporations, financial institutions and public corporations in Japan

GCIBC:

Services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers, etc.

GMC:

Investment services with respect to interest rates, equities and credits, etc. , and other services

AMC:

Development of products and provision of services that match the asset management needs of its wide range of customers from individuals to institutional investors

The reportable segment information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments.

Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices.

Effective as of April 1, 2023, MHFG partially restructured its in-house company system. CIBC was newly established by the integration of the Corporate & Institutional Company and the investment banking functions of the Global Products Unit. With the establishment of CIBC, the Global Corporate Company changed its name to GCIBC.

2. Calculating method of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others, Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others, and Fixed Assets by reportable segment

The following information of reportable segment is based on internal management reporting.

Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others is the total amount of Interest Income, Fiduciary Income, Fee and Commission Income, Trading Income, Other Operating Income, and Net Gains (Losses) related to ETFs and others.

Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others is the amount of which General and Administrative Expenses (excluding Non-Recurring Losses and others), Equity in Income from Investments in Affiliates, and Amortization of Goodwill and others (including Amortization of Intangible Assets) are deducted from, or added to, Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others.

Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others relating to transactions between segments is based on the current market price.

Fixed Assets disclosed as asset information by segment are the total amount of Tangible Fixed Assets and Intangible Fixed Assets. Fixed Assets pertaining to Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd. have been allocated to each segment.

 

1-15

Mizuho Financial Group, Inc.

 

3. Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others, Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others, and Fixed Assets by reportable segment

 

		Millions of yen
		MHFG (Consolidated)
		RBC				CIBC				GCIBC				GMC				AMC				Others (Note 2)
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others			749,224				556,311				670,215				432,456				57,221				206,823				2,672,250
General and Administrative Expenses (excluding Non-Recurring Losses and others)			651,128				217,770				352,425				307,450				36,118				117,018				1,681,909
Equity in Income from Investments in Affiliates			6,950				7,656				22,013				—				(11,873	)			1,475				26,221
Amortization of Goodwill and others			—				—				2,389				—				6,474				1,865				10,728
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others			105,046				346,197				337,414				125,006				2,756				89,415				1,005,834
Fixed Assets			533,810				157,161				197,902				90,329				—				885,411				1,864,613

 

Notes: 1.		Gross Profits (excluding the amounts of credit costs of trust accounts) +Net Gains (Losses) related to ETFs and others is reported instead of sales reported by general corporations. Net Gains (Losses) related to ETFs and others amounted to ¥ (31,054) million, of which ¥ (37,085) million is included in the GMC.
2.		“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
3.		“Others” in Fixed Assets includes assets of headquarters that have not been allocated to each segment, Fixed Assets pertaining to consolidated subsidiaries that are not subject to allocation, consolidated adjustments, and others.
		Among Fixed Assets that have not been allocated to each segment, some related expenses are allocated to each segment using a reasonable criteria of allocation.

 

1-16

Mizuho Financial Group, Inc.

 

4. The difference between the total amounts of reportable segments and the recorded amounts in the Consolidated Statement of Income, and the contents of the difference (Matters relating to adjustment to difference)

The above amount of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others and that of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others derived from internal management reporting by reportable segment are different from the amounts recorded in the Consolidated Statement of Income.

The contents of the difference for the period are as follows:

 

(1)	The total of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others of Segment Information and Ordinary Profits recorded in the Consolidated Statement of Income

 

		Millions of yen
		Amount
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others			2,672,250
Net Gains (Losses) related to ETFs and others			31,054
Other Ordinary Income			399,078
General and Administrative Expenses			(1,663,951	)
Other Ordinary Expenses			(524,383	)
Ordinary Profits recorded in Consolidated Statement of Income			914,047

 

(2)

The total of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others of Segment Information and Income before Income Taxes recorded in the Consolidated Statement of Income

 

		Millions of yen
		Amount
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others			1,005,834
General and Administrative Expenses (Non-Recurring Losses)			28,686
Expenses related to Portfolio Problems (including reversal of (provision for) general reserve for losses on loans)			(114,038	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			7,687
Net Gains (Losses) related to Stocks—Net Gains (Losses) related to ETFs and others			54,720
Net Extraordinary Gains (Losses)			40,987
Others			(68,842	)
Income before Income Taxes recorded in Consolidated Statement of Income			955,035

 

1-17

Mizuho Financial Group, Inc.

 

(Per Share Information)

(Consolidated basis)

 

						Fiscal 2022				Fiscal 2023
Net Assets per Share of Common Stock						¥	3,603.98			¥	4,037.28
Net Income per Share of Common Stock						¥	219.20			¥	267.88
Diluted Net Income per Share of Common Stock						¥	219.19			¥	267.88

 

Notes: 1.

Total Net Assets per Share of Common Stock is based on the following information:

 

						Fiscal 2022				Fiscal 2023
Net Assets per Share of Common Stock
Total Net Assets		¥	million				9,208,463				10,312,135
Deductions from Total Net Assets		¥	million				75,168				79,597
Stock Acquisition Rights		¥	million				5				5
Non-Controlling Interests		¥	million				75,163				79,591
Net Assets (year-end) related to Common Stock		¥	million				9,133,294				10,232,538
Year-end Outstanding Shares of Common Stock, based on which Total Net Assets per Share of Common Stock was calculated			Thousands of shares				2,534,222				2,534,510

 

2.

Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock are based on the following information:

 

						Fiscal 2022				Fiscal 2023
Net Income per Share of Common Stock
Profit Attributable to Owners of Parent		¥	million				555,527				678,993
Amount not attributable to Common Stock		¥	million				—				—
Profit Attributable to Owners of Parent related to Common Stock		¥	million				555,527				678,993
Average Outstanding Shares of Common Stock (during the period)			Thousands of shares				2,534,340				2,534,673
Diluted Net Income per Share of Common Stock
Adjustment to Profit Attributable to Owners of Parent		¥	million				—				—
Increased Number of Shares of Common Stock			Thousands of shares				15				2
Stock Acquisition Rights			Thousands of shares				15				2
Description of dilutive securities which were not included in the calculation of Diluted Net Income per Share of Common Stock as they have no dilutive effects							—				—

 

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