Equibles

6-K

MIZUHO FINANCIAL GROUP INC (MFG)

6-K 2025-11-28 For: 2025-11-28
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Added on April 05, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2025

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NO. 333-282497) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Date: November 28, 2025
Mizuho Financial Group, Inc.
By: /s/ Takefumi Yonezawa
Name: Takefumi Yonezawa
Title: Senior Managing Corporate Executive / Group CFO

UNAUDITED INTERIM CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025

On November 28, 2025, we published our unaudited interim consolidated financial statements as of and for the six months ended September 30, 2025 prepared in accordance with Japanese GAAP as part of our interim securities report (hanki hokokusho) for the same period filed by us with the relevant Japanese authorities. We have included in this report on Form 6-K an English translation of the unaudited interim consolidated financial statements and the notes thereto included in such interim securities report. Japanese GAAP differs in certain respects from U.S. GAAP. For a description of certain differences between U.S. GAAP and Japanese GAAP, see “Item 5. Operating and Financial Review and Prospects—Reconciliation with Japanese GAAP” in our most recent annual report on Form 20-F filed with the U.S. Securities Exchange Commission.

- 1 -

Financial Information

1. Mizuho Financial Group, Inc. (“MHFG”) is a specified business company under Article 18, Paragraph 2<br>of the Cabinet Office Ordinance on Disclosure of Corporate Information, etc. and prepares the interim consolidated financial statements.
2. The interim consolidated financial statements of MHFG are prepared in accordance with the “Ordinance on<br>the Terminology, Forms, and Preparation Methods of Consolidated Financial Statements” (Ordinance of the Ministry of Finance No. 28 of 1976). The classification of assets and liabilities and that of income and expenses are in accordance<br>with the “Ordinance for Enforcement of the Banking Act” (Ordinance of the Ministry of Finance No. 10 of 1982).
--- ---

Additionally, MHFG is subject to a company listed in the upper column of No. 2 in the table of Article 24-5, Paragraph 1 of the Financial Instruments and Exchange Act, and prepares “dainishu” interim consolidated financial statements pursuant to Part 1 and Part 4 of the “Ordinance on the Terminology, Forms, and Preparation Methods of Consolidated Financial Statements.”

3. Ernst & Young ShinNihon LLC conducted a semiannual audit on the interim consolidated financial<br>statements of MHFG for the six months ended September 30, 2025, pursuant to Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act.

- 2 -

I. Interim Consolidated Financial Statements

(1) Interim Consolidated Balance Sheet

(Millions of yen)
As of<br><br><br>March 31, 2025 As of<br><br><br>September 30, 2025
Assets
Cash and Due from Banks *5 72,483,086 *5 67,287,879
Call Loans and Bills Bought 688,473 807,153
Receivables under Resale Agreements 28,107,374 29,283,179
Guarantee Deposits Paid under Securities Borrowing Transactions 2,078,999 1,947,582
Monetary Claims Bought 3,932,427 4,480,575
Trading Assets *5 22,240,796 *5 25,710,230
Money Held in Trust 632,025 755,149
Securities *1, *2, *3, *5, *12 34,307,574 *1, *2, *3, *5, *12 38,395,250
Loans and Bills Discounted *3, *4, *5, *6 94,108,757 *3, *4, *5, *6 94,264,066
Foreign Exchanges *3, *4 2,237,879 *3, *4 2,291,125
Derivatives other than for Trading Assets 3,497,747 4,079,390
Other Assets *3, *5 7,008,874 *3, *5 6,711,452
Tangible Fixed Assets *7, *8 1,122,592 *7, *8 1,119,842
Intangible Fixed Assets 808,897 861,951
Net Defined Benefit Asset 758,783 630,260
Deferred Tax Assets 237,630 152,571
Customers’ Liabilities for Acceptances and Guarantees *3 9,824,242 *3 10,469,462
Allowance for Loan Losses (755,751 ) (490,037 )
Allowance for Investment Losses (5 ) (3 )
Total Assets 283,320,404 288,757,081

- 3 -

(Millions of yen)
As of<br><br><br>March 31, 2025 As of<br><br><br>September 30, 2025
Liabilities
Deposits *5 158,746,762 *5 160,362,897
Negotiable Certificates of Deposit 14,398,784 13,767,971
Call Money and Bills Sold 2,745,165 3,185,385
Payables under Repurchase Agreements *5 38,393,650 *5 35,925,311
Guarantee Deposits Received under Securities Lending Transactions *5 1,604,389 *5 2,031,700
Commercial Paper 2,138,133 2,245,275
Trading Liabilities 14,290,572 15,501,391
Borrowed Money *5, *9 4,008,514 *5, *9 4,621,890
Foreign Exchanges 840,486 1,259,088
Short-term Bonds 724,118 722,727
Bonds and Notes *10 12,877,794 *10 14,090,298
Due to Trust Accounts 950,946 975,398
Derivatives other than for Trading Liabilities 4,566,669 5,202,260
Other Liabilities 6,267,822 6,989,717
Reserve for Bonus Payments 224,246 147,240
Reserve for Variable Compensation 2,226 1,388
Net Defined Benefit Liability 68,259 68,475
Reserve for Director and Corporate Auditor Retirement Benefits 484 417
Reserve for Possible Losses on Sales of Loans 1,266 40
Reserve for Contingencies 22,542 18,232
Reserve for Reimbursement of Deposits 7,146 6,035
Reserve for Reimbursement of Debentures 19,965 16,039
Reserves under Special Laws 4,247 4,244
Deferred Tax Liabilities 21,155 22,900
Deferred Tax Liabilities for Revaluation Reserve for Land *7 47,059 *7 45,281
Acceptances and Guarantees 9,824,242 10,469,462
Total Liabilities 272,796,651 277,681,073
Net Assets
Common Stock 2,256,767 2,256,767
Capital Surplus 1,129,730 1,129,730
Retained Earnings 6,046,578 6,451,923
Treasury Stock (9,462 ) (11,319 )
Total Shareholders’ Equity 9,423,614 9,827,101
Net Unrealized Gains (Losses) on Other Securities 867,697 1,200,477
Deferred Gains (Losses) on Hedges (465,204 ) (587,866 )
Revaluation Reserve for Land *7 98,680 *7 94,820
Foreign Currency Translation Adjustments 398,783 364,091
Remeasurements of Defined Benefit Plans 119,654 98,241
Own Credit Risk Adjustments, Net of Tax (1,014 ) (1,225 )
Total Accumulated Other Comprehensive Income 1,018,596 1,168,538
Stock Acquisition Rights 5 5
Non-controlling Interests 81,536 80,362
Total Net Assets 10,523,753 11,076,007
Total Liabilities and Net Assets 283,320,404 288,757,081

- 4 -

(2) Interim Consolidated Statement of Income and Interim Consolidated Statement of Comprehensive Income

Interim Consolidated Statement of Income

(Millions of yen)
For the six monthsendedSeptember 30, 2024 For the six monthsendedSeptember 30, 2025
Ordinary Income 4,585,215 4,337,537
Interest Income 3,045,939 2,891,300
Interest on Loans and Bills Discounted 1,373,557 1,324,754
Interest and Dividends on Securities 431,507 435,441
Trust Fees 30,291 31,570
Fee and Commission Income 512,874 584,789
Trading Income 558,460 424,618
Other Operating Income 228,699 156,662
Other Ordinary Income *1 208,950 *1 248,595
Ordinary Expenses 3,838,136 3,487,910
Interest Expenses 2,563,082 2,238,619
Interest on Deposits 874,568 815,178
Fee and Commission Expenses 110,088 117,402
Trading Expenses — 1,397
Other Operating Expenses 182,395 102,450
General and Administrative Expenses *2 877,168 *2 966,147
Other Ordinary Expenses *3 105,401 *3 61,891
Ordinary Profits 747,079 849,626
Extraordinary Gains *4 49,527 *4 54,228
Extraordinary Losses *5 5,447 *5 5,138
Profit before Income Taxes 791,158 898,716
Income Taxes:
Current 187,649 *6 204,950
Deferred 35,483 1,187
Total Income Taxes 223,133 206,138
Profit 568,025 692,578
Profit Attributable to Non-controlling Interests 1,884 2,630
Profit Attributable to Owners of Parent 566,141 689,947

- 5 -

Interim Consolidated Statement of Comprehensive Income

(Millions of yen)
For the six monthsendedSeptember 30, 2024 For the six monthsendedSeptember 30, 2025
Profit 568,025 692,578
Other Comprehensive Income 23,813 153,000
Net Unrealized Gains (Losses) on Other Securities 18,120 332,513
Deferred Gains (Losses) on Hedges (6,897 ) (122,945 )
Foreign Currency Translation Adjustments 18,117 (13,314 )
Remeasurements of Defined Benefit Plans (15,925 ) (21,295 )
Own Credit Risk Adjustments, Net of Tax (75 ) (210 )
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method 10,474 (21,746 )
Comprehensive Income 591,838 845,578
(Breakdown)
Comprehensive Income Attributable to Owners of Parent 588,854 843,748
Comprehensive Income Attributable to Non-controlling<br>Interests 2,983 1,830

- 6 -

(3) Interim Consolidated Statement of Changes in Net Assets

For the six months ended September 30, 2024

(Millions of yen)
Shareholders’ Equity
Common Stock Capital Surplus Retained Earnings Treasury Stock TotalShareholders’<br>Equity
Balance as of the beginning of the period 2,256,767 1,129,730 5,538,891 (9,402 ) 8,915,987
Changes during the period
Cash Dividends (139,610 ) (139,610 )
Profit Attributable to Owners of Parent 566,141 566,141
Repurchase of Treasury Stock (2,772 ) (2,772 )
Disposition of Treasury Stock 1 2,636 2,637
Transfer from Revaluation Reserve for Land 25,315 25,315
Net Changes in Items other than Shareholders’ equity
Total Changes during the period — 1 451,846 (136 ) 451,710
Balance as of the end of the period 2,256,767 1,129,731 5,990,738 (9,539 ) 9,367,698
Accumulated Other Comprehensive Income Stock<br>Acquisition<br>Rights Non-<br>controlling<br>Interests Total Net<br>Assets
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net Unrealized<br>Gains (Losses)<br>onOther<br>Securities Deferred Gainsor Losses on<br>Hedges Revaluation<br>Reservefor<br>Land Foreign<br>Currency<br>Translation<br><br>Adjustments Remeasurements<br>of Defined<br>BenefitPlans OwnCredit<br>Risk<br>Adjustments,<br>Net of Tax Total<br>Accumulated<br>Other<br>Comprehensive<br>Income
Balance as of the beginning of the period 929,815 (298,280 ) 126,879 344,250 214,337 (452 ) 1,316,550 5 79,591 10,312,135
Changes during the period
Cash Dividends (139,610 )
Profit Attributable to Owners of Parent 566,141
Repurchase of Treasury Stock (2,772 )
Disposition of Treasury Stock 2,637
Transfer from Revaluation Reserve for Land 25,315
Net Changes in Items other than Shareholders’ equity 17,464 (6,770 ) (25,315 ) 28,290 (16,195 ) (75 ) (2,601 ) — 75 (2,526 )
Total Changes during the period 17,464 (6,770 ) (25,315 ) 28,290 (16,195 ) (75 ) (2,601 ) — 75 449,184
Balance as of the end of the period 947,280 (305,050 ) 101,564 372,540 198,141 (527 ) 1,313,948 5 79,667 10,761,319

- 7 -

For the six months ended September 30, 2025

(Millions of yen)
Shareholders’ Equity
Common Stock Capital Surplus Retained Earnings Treasury Stock TotalShareholders’<br>Equity
Balance as of the beginning of the period 2,256,767 1,129,730 6,046,578 (9,462 ) 9,423,614
Changes during the period
Cash Dividends (188,463 ) (188,463 )
Profit Attributable to Owners of Parent 689,947 689,947
Repurchase of Treasury Stock (103,830 ) (103,830 )
Disposition of Treasury Stock 1 1,973 1,975
Cancellation of Treasury Stock (99,999 ) 99,999 —
Transfer from Revaluation Reserve for Land 3,859 3,859
Transfer from Retained Earnings to Capital Surplus 99,998 (99,998 ) —
Net Changes in Items other than Shareholders’ Equity
Total Changes during the period — — 405,345 (1,857 ) 403,487
Balance as of the end of the period 2,256,767 1,129,730 6,451,923 (11,319 ) 9,827,101
Accumulated Other Comprehensive Income Stock<br>Acquisition<br>Rights Non-<br>controlling<br>Interests Total Net<br>Assets
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net Unrealized<br>Gains (Losses)<br>on Other<br>Securities Deferred Gains<br>or Losses on<br>Hedges Revaluation<br>Reservefor<br>Land Foreign<br>Currency<br>Translation<br><br>Adjustments Remeasurements<br>of Defined<br>BenefitPlans OwnCredit<br>Risk<br>Adjustments,<br>Net of Tax Total<br>Accumulated<br>Other<br>Comprehensive<br>Income
Balance as of the beginning of the period 867,697 (465,204 ) 98,680 398,783 119,654 (1,014 ) 1,018,596 5 81,536 10,523,753
Changes during the period
Cash Dividends (188,463 )
Profit Attributable to Owners of Parent 689,947
Repurchase of Treasury Stock (103,830 )
Disposition of Treasury Stock 1,975
Cancellation of Treasury Stock —
Transfer from Revaluation Reserve for Land 3,859
Transfer from Retained Earnings to Capital Surplus —
Net Changes in Items other than Shareholders’ Equity 332,779 (122,662 ) (3,859 ) (34,692 ) (21,413 ) (210 ) 149,941 — (1,174 ) 148,767
Total Changes during the period 332,779 (122,662 ) (3,859 ) (34,692 ) (21,413 ) (210 ) 149,941 — (1,174 ) 552,254
Balance as of the end of the period 1,200,477 (587,866 ) 94,820 364,091 98,241 (1,225 ) 1,168,538 5 80,362 11,076,007

- 8 -

(4) Interim Consolidated Statement of Cash Flows

(Millions of yen)
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Cash Flow from Operating Activities
Profit before Income Taxes 791,158 898,716
Depreciation 93,560 105,310
Losses on Impairment of Fixed Assets 1,564 992
Amortization of Goodwill 3,598 3,655
Equity in Loss (Gain) from Investments in Affiliates (27,771 ) (26,680 )
Increase (Decrease) in Allowance for Loan Losses (56,765 ) (267,417 )
Increase (Decrease) in Allowance for Investment Losses 0 (2 )
Increase (Decrease) in Reserve for Possible Losses on Sales of Loans 115 (1,225 )
Increase (Decrease) in Reserve for Contingencies (2,842 ) (4,413 )
Increase (Decrease) in Reserve for Bonus Payments (56,591 ) (77,109 )
Increase (Decrease) in Reserve for Variable Compensation (1,359 ) (837 )
Decrease (Increase) in Net Defined Benefit Asset (32,099 ) 122,015
Increase (Decrease) in Net Defined Benefit Liability (372 ) 465
Increase (Decrease) in Reserve for Director and Corporate Auditor Retirement Benefits (109 ) (67 )
Increase (Decrease) in Reserve for Reimbursement of Deposits (1,538 ) (1,110 )
Increase (Decrease) in Reserve for Reimbursement of Debentures (1,407 ) (3,925 )
Interest Income - accrual basis (3,045,939 ) (2,891,300 )
Interest Expenses - accrual basis 2,563,082 2,238,619
Losses (Gains) on Securities (146,335 ) (118,319 )
Losses (Gains) on Money Held in Trust (514 ) (1,082 )
Foreign Exchange Losses (Gains) - net 685,703 (4,582 )
Losses (Gains) on Disposition of Fixed Assets (32,238 ) (7,637 )
Losses (Gains) on Revision of Retirement Benefit Plan (9,015 ) —
Losses (Gains) on Cancellation of Employee Retirement Benefit Trust (3,788 ) (38,566 )
Net Decrease (Increase) in Trading Assets (560,035 ) (3,359,884 )
Net Increase (Decrease) in Trading Liabilities (35,999 ) 1,087,405
Net Decrease (Increase) in Derivatives other than for Trading Assets (253,372 ) (565,708 )
Net Increase (Decrease) in Derivatives other than for Trading Liabilities 353,337 623,488
Net Decrease (Increase) in Loans and Bills Discounted (422,171 ) 102,355
Net Increase (Decrease) in Deposits (3,419,380 ) 1,254,296
Net Increase (Decrease) in Negotiable Certificates of Deposit 860,863 (780,729 )
Net Increase (Decrease) in Borrowed Money (excluding Subordinated Borrowed Money) 250,345 599,636
Net Decrease (Increase) in Due from Banks (excluding Due from Central Banks) (787 ) (89,283 )
Net Decrease (Increase) in Call Loans, etc. (2,011,283 ) (1,771,999 )
Net Decrease (Increase) in Guarantee Deposits Paid under Securities Borrowing<br>Transactions 180,360 131,416
Net Increase (Decrease) in Call Money, etc. 3,463,557 (2,103,366 )
Net Increase (Decrease) in Commercial Paper (94,194 ) 116,293
Net Increase (Decrease) in Guarantee Deposits Received under Securities Lending<br>Transactions 55,948 427,310
Net Decrease (Increase) in Foreign Exchanges (Assets) (18,388 ) (55,495 )
Net Increase (Decrease) in Foreign Exchanges (Liabilities) 222,258 418,057
Net Increase (Decrease) in Short-term Bonds (Liabilities) 183,876 (1,390 )
Increase (Decrease) in Bonds and Notes 70,696 891,231
Net Increase (Decrease) in Due to Trust Accounts 50,086 24,451
Interest and Dividend Income - cash basis 3,021,212 2,833,811
Interest Expenses - cash basis (2,696,385 ) (2,200,296 )
Other - net (1,159,212 ) 422,139
Subtotal (1,238,572 ) (2,070,763 )
Cash Refunded (Paid) in Income Taxes 16,420 (176,360 )
Net Cash Provided by (Used in) Operating Activities (1,222,151 ) (2,247,123 )

- 9 -

(Millions of yen)
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Cash Flow from Investing Activities
Payments for Purchase of Securities (38,088,448 ) (29,945,009 )
Proceeds from Sale of Securities 26,467,039 23,025,505
Proceeds from Redemption of Securities 11,964,533 4,103,657
Payments for Increase in Money Held in Trust (35,511 ) (128,181 )
Proceeds from Decrease in Money Held in Trust 6,172 5,401
Payments for Purchase of Tangible Fixed Assets (31,440 ) (40,670 )
Payments for Purchase of Intangible Fixed Assets (119,135 ) (101,301 )
Proceeds from Sale of Tangible Fixed Assets 86,513 21,164
Proceeds from Sale of Intangible Fixed Assets — 8
Purchase of Shares of Subsidiaries Resulting in Change in Scope of Consolidation — (45,542 )
Payment from Sales of Stocks of Subsidiaries (affecting the scope of consolidation) 2,970 2,225
Net Cash Provided by (Used in) Investing Activities 252,694 (3,102,742 )
Cash Flow from Financing Activities
Proceeds from Issuance of Subordinated Bonds 514,500 384,000
Payments for Redemption of Subordinated Bonds (135,000 ) (60,000 )
Proceeds from Investments by Non-controlling<br>Shareholders 341 1,428
Cash Dividends Paid (139,509 ) (188,342 )
Cash Dividends Paid to Non-controlling<br>Shareholders (3,289 ) (3,745 )
Payments for Repurchase of Treasury Stock (2,772 ) (103,830 )
Proceeds from Sale of Treasury Stock 2,637 1,975
Net Cash Provided by (Used in) Financing Activities 236,905 31,485
Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents (556,569 ) (11,741 )
Net Increase (Decrease) in Cash and Cash Equivalents (1,289,121 ) (5,330,122 )
Cash and Cash Equivalents at the beginning of the period 71,165,815 70,723,361
Cash and Cash Equivalents at the end of the period *1 69,876,694 *1 65,393,238

- 10 -

Notes to Interim Consolidated Financial Statements

Fundamental and Important Matters for the Preparation of Interim Consolidated Financial Statements

1. Scope of Consolidation
(1) Number of consolidated subsidiaries: 253
--- ---

Names of principal companies:

Mizuho Bank, Ltd.

Mizuho Trust & Banking Co., Ltd.

Mizuho Securities Co., Ltd.

Change in scope of consolidation

During the six months ended September 30, 2025, UPSIDER Holdings, Inc. and twenty-nine other companies were newly included in the scope of consolidation as a result of business acquisition and other factors.

During the six months ended September 30, 2025, J.Score CO., LTD and eleven other companies were excluded from the scope of consolidation as a result of dissolution and other factors.

(2) Number of non-consolidated subsidiaries: 0
2. Application of the Equity Method
--- ---
(1) Number of non-consolidated subsidiaries under the equity method: 0<br>
--- ---
(2) Number of affiliates under the equity method: 27
--- ---

Names of principal companies:

Custody Bank of Japan, Ltd.

Orient Corporation

Mizuho Leasing Company, Limited

Change in scope of equity method

During the six months ended September 30, 2025, NestBlue Co., Ltd. was newly included in the scope of equity method as a result of establishment.

During the six months ended September 30, 2025, UPSIDER Capital was excluded from the scope of equity method and included in the scope of consolidation as a result of capital restructuring.

(3) Number of non-consolidated subsidiaries not under the equity method: 0<br>
(4) Affiliates not under the equity method:
--- ---

Pec International Leasing Co., Ltd.

Affiliates not under the equity method are excluded from the scope of the equity method since such exclusion has no material effect on MHFG’s interim consolidated financial statements in terms of Profit (Loss) (amount corresponding to MHFG’s equity position), Retained Earnings (amount corresponding to MHFG’s equity position), Accumulated Other Comprehensive Income (amount corresponding to MHFG’s equity position) and others.

3. Interim Balance Sheet Dates of Consolidated Subsidiaries
(1) Interim balance sheet dates of consolidated subsidiaries are as follows:
--- ---
June 30 36 companies
--- ---
September 30 211 companies
January 31 1 company
October 31 3 companies
July 31 2 companies

- 11 -

(2) The subsidiaries with an interim balance sheet date of October 31 are consolidated based on interim<br>financial statements as of July 31, and the subsidiary with an interim balance sheet data of January 31 is consolidated based on its tentative interim financial statement as of and for the period ended the interim balance sheet date. Other<br>consolidated subsidiaries were consolidated based on their interim financial statements as of and for the period ended their respective interim balance sheet dates.

The necessary adjustments have been made to the interim financial statements for any significant transactions that took place between their respective interim balance sheet dates and the date of the interim consolidated financial statements.

4. Standards of Accounting Method
(1) Trading Assets & Liabilities and Trading Income & Expenses
--- ---

Trading transactions intended to take advantage of short-term fluctuations and arbitrage opportunities in interest rates, currency exchange rates, market prices of securities and related indices are recognized on a trade date basis and recorded in Trading Assets or Trading Liabilities on the interim consolidated balance sheet. Income or expenses generated on the relevant trading transactions are recorded in Trading Income or Trading Expenses on the interim consolidated statement of income.

Securities and other monetary claims held for trading purposes are stated at fair value at the interim consolidated balance sheet date. Derivative financial products, such as swaps, futures and option transactions, are stated at fair value, assuming that such transactions are terminated and settled at the interim consolidated balance sheet date.

Trading Income and Trading Expenses include the interest received and the interest paid during the six months ended September 30, 2025, the gains or losses resulting from any change in the value of securities and other monetary claims between the beginning and the end of the six months ended September 30, 2025, and the gains or losses resulting from any change in the value of financial derivatives between the beginning and the end of the six months ended September 30, 2025, assuming they were settled at the end of the six months ended September 30, 2025.

For financial derivatives, fair value is calculated on the basis of net assets or liabilities after offsetting financial assets and liabilities with respect to specific market risks and specific credit risk.

(2) Securities
(a) Bonds held to maturity are stated at amortized cost (straight-line method) and determined by the moving average<br>method. Investments in affiliates not under the equity method are stated at acquisition cost and determined by the moving average method. Other Securities are stated at market price (cost of securities sold is calculated primarily by the moving<br>average method). Stocks and others without a quoted market price are stated at acquisition cost and determined by the moving average method.
--- ---

The net unrealized gains (losses) on Other Securities are included directly in Net Assets, net of applicable income taxes after excluding gains and losses as a result of the fair-value hedge method.

(b) Securities which are held as trust assets in Money Held in Trust accounts are valued in the same way as<br>described in (a) above.
(3) Derivative Transactions
--- ---

Derivative transactions (other than transactions for trading purposes) are valued at fair value.

Fair value is calculated on the basis of net assets or liabilities after offsetting financial assets and liabilities with respect to specific market risks and specific credit risk.

(4) Depreciation of Fixed Assets
1) Tangible Fixed Assets (Except for Lease Assets)
--- ---

Depreciation of buildings is computed mainly by the straight-line method, and that of others is computed mainly by the declining-balance method. The amount based on estimated annual depreciation expenses is allocated to each period.

The range of useful lives is as follows:

Buildings 3 years to 50 years
Others 2 years to 20 years

- 12 -

2) Intangible Fixed Assets (Except for Lease Assets)

Amortization of Intangible Fixed Assets is computed by the straight-line method. Development costs for internally-used software are capitalized and amortized over their estimated useful lives of mainly from five to ten years as determined by MHFG and consolidated subsidiaries.

3) Lease Assets

Depreciation of lease assets booked in Tangible Fixed Assets and Intangible Fixed Assets which relate to finance lease transactions that do not transfer ownership is mainly computed by the same method as the one applied to fixed assets owned by us.

(5) Deferred Assets

Bond issuance costs are expensed as incurred.

(6) Allowances for Loan Losses

Allowances for Loan Losses of major domestic consolidated subsidiaries are maintained in accordance with internally established standards for write-offs and reserve provisions.

For claims extended to obligors that are legally bankrupt under the Bankruptcy Law, Special Liquidation under the Company Law or other similar laws (“Bankrupt Obligors”), and to obligors that are effectively in similar conditions (“Substantially Bankrupt Obligors”), reserves are maintained at the amounts of claims net of direct write-offs described below and the expected amounts recoverable from the disposition of collateral and the amounts recoverable under guarantees. For claims extended to obligors that are not yet legally or formally bankrupt but are likely to be bankrupt (“Intensive Control Obligors”), reserves are maintained at the amounts deemed necessary based on overall solvency analyses of the amounts of claims net of expected amounts recoverable from the disposition of collateral and the amounts recoverable under guarantees.

For claims extended to Intensive Control Obligors and Obligors with Restructured Loans and others, if the exposure to an obligor exceeds a certain specific amount, reserves are provided as follows: (i) if future cash flows of the principal and interest can be reasonably estimated, the discounted cash flow method is applied, under which the reserve is determined as the difference between the book value of the loan and its present value of future cash flows discounted using the contractual interest rate before the loan was classified as a Restructured Loan, and (ii) if future cash flows of the principal and interest cannot be reasonably estimated, reserves are provided for the losses estimated for each individual loan.

For claims extended to other obligors, reserves for the next one year or three years are maintained at rates derived from historical credit loss experience or historical bankruptcy experience for one or three years and making necessary adjustments such as future prospects and others. Allowance for Loan Losses to Restructuring Countries is maintained in order to cover possible losses based on analyses of the political and economic climates of the countries.

All claims are assessed by each claim origination department in accordance with the internally established “Self-assessment Standard,” and the results of the assessments are verified and examined by the independent examination departments.

In the case of claims to Bankrupt Obligors and Substantially Bankrupt Obligors, which are collateralized or guaranteed by a third party, the amounts deemed uncollectible (calculated by deducting the anticipated proceeds from the sale of collateral pledged against the claims and amounts that are expected to be recovered from guarantors of the claims) are written off against the respective claims balances. The total directly written-off amount was ¥322,250 million (¥96,218 million at the end of the fiscal year ended March 31, 2025).

Other consolidated subsidiaries provide the amount necessary to cover the loan losses based upon past experience and other factors for general claims and the assessment for each individual loan for other claims.

- 13 -

(Additional Information)

In light of the principles set forth in the report entitled “JFSA’s supervisory approaches to lending business and loan loss provisioning” published by JFSA on December 18, 2019, we have reflected the potential impact of macroeconomic uncertainty and others on credit risks on Allowances for Loan Losses for some credit. More specifically, we used scenarios based on developments in monetary policy, trade and industry policies, and their ripple effects, and others. These scenarios include the forecasted GDP growth rate, energy prices, financial variables, including interest rates and exchange rates, increased rate of labor costs, the future outlook of the business environment for specific portfolio segments considering the impact of tariff policies and other factors in the United States, and concerns about deteriorating earnings on the future prospects such as the ripple effect on the automotive supply chain, etc. Expected impacts on the portfolio from these scenarios, based on our comprehensive judgmental analysis, are reflected in the Allowances for Loan Losses. There are no material changes in the methods of the above accounting estimates and the major assumptions used in the consolidated financial statements from those of the previous fiscal year.

(7) Allowance for Investment Losses

Allowance for Investment Losses is maintained to provide against possible losses on investments in securities, after taking into consideration the financial condition and other factors concerning the investee company.

(8) Reserve for Bonus Payments

Reserve for Bonus Payments, which is provided for future bonus payments to employees, is maintained at the amount accrued at the end of the six months ended September 30, 2025, based on the estimated future payments.

(9) Reserve for Variable Compensation

Reserve for Variable Compensation, which is prepared for the payments of performance payments and stock compensation to be paid as variable compensation within compensation for directors, group executive officers and operating officers of Mizuho Financial Group, Inc., Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd., is maintained to provide estimated payments based on the standard amount regarding variable compensation of the fiscal year ending March 31, 2026.

(10) Reserve for Director and Corporate Auditor Retirement Benefits

Reserve for Director and Corporate Auditor Retirement Benefits, which is provided for future retirement benefit payments to directors, corporate auditors and executive officers, is recognized at the amount accrued by the end of the six months ended September 30, 2025, based on internally established standards.

(11) Reserve for Possible Losses on Sales of Loans

Reserve for Possible Losses on Sales of Loans is provided for possible future losses on sales of loans at the amount deemed necessary based on a reasonable estimate of possible future losses.

(12) Reserve for Contingencies

Reserve for Contingencies is maintained to provide against possible losses from contingencies which are not covered by other specific reserves. The balance is an estimate of possible future losses considered to require a reserve.

(13) Reserve for Reimbursement of Deposits

Reserve for Reimbursement of Deposits is provided against the losses for the deposits derecognized from liabilities at the estimated amount of future claims for withdrawal by depositors.

(14) Reserve for Reimbursement of Debentures

Reserve for Reimbursement of Debentures is provided for the debentures derecognized from liabilities at the estimated amount for future claims.

- 14 -

(15) Reserve under Special Laws

Reserve under Special Laws is Reserve for Contingent Liabilities from Financial Instruments and Exchange.

This is the reserve pursuant to Article 46-5 of the Financial Instruments and Exchange Law and Article 175 of the Cabinet Office Ordinance regarding Financial Instruments Business, etc. to indemnify the losses incurred from accidents in the purchase and sale of securities, other transactions or derivative transactions.

(16) Accounting Method for Retirement Benefits

In calculating retirement benefit obligations, a benefit formula basis is used as a method of attributing expected retirement benefits to the period up to the end of the six months ended September 30, 2025.

Unrecognized prior service cost and unrecognized actuarial differences are recognized as follows:

Unrecognized prior service cost: Recognized mainly as income or expenses in the period of occurrence.

Unrecognized actuarial difference: Recognized as income or expenses from the following fiscal year under the straight-line method over a certain term within the average remaining service period of the employees (mainly 10 years) of the respective fiscal years.

Certain consolidated subsidiaries apply the simplified method that assumes the amount required for voluntary resignation at the end of the six months ended September 30, 2025 to be retirement benefit obligations in computing net defined benefit liability and retirement benefit expenses.

(17) Revenues

Securities-related business fees mainly consist of brokerage fees and commissions, and asset-based revenues. Brokerage fees and commissions include fees earned from the execution of customer transactions and sales commissions of stocks, bonds and investment trusts, which are recognized at the point in time on the transaction date with the customer. Asset-based revenues include fees received from investment trust management companies in return for administration services, such as record keeping services, of investment trusts, which are recognized over time in the period when the related service is provided.

Deposits and Lending business fees consist of deposit-related fees and lending-related fees. Deposit related fees are within the scope of “Accounting Standard for Revenue Recognition,” while most of Lending-related fees such as commitment fees and arrangement fees are not. Deposit-related fees include account transfer fees, which are recognized at the point in time on the transaction date with the customer or at the point in time when the related service is provided.

Remittance business fees include service charges for domestic and international funds transfers and collections, which are recognized at the point in time when the related service is provided.

Trust-related business fees mainly consist of brokerage commissions of real estate property, consulting fees of real estate property and charges of stock transfer agent services. Brokerage commissions of real estate property are commissions that are received as consideration for services related to real estate brokerage, and are recognized in principle at the time of the conclusion of a sales contract for the subject real estate or trust beneficiary rights. Consulting fees of real estate property are commissions that are received as consideration for services related to real estate consulting, which are recognized at the point in time when the related service is provided or over time in the period when the related service is provided. Stock transfer agent service fees are commissions that are received as consideration for services related to transfer agent business and associated services, which are recognized at the point in time when the related service is provided or over time in the period when the related service is provided.

Agency business fees mainly consist of administration service fees related to MHFG Group’s agency business such as Japan’s principal public lottery program and revenues from standing proxy services related to stocks and others, which are recognized at the point in time when the related service is provided or over time in the period when the related service is provided.

- 15 -

Fees for other customer services include various revenues such as sales commissions of life insurance, service charges for electronic banking, financial advisory fees, and service charges for software development.

Sales commissions of life insurance are received in return for selling insurance products and recognized mainly at the point in time on transaction date with the customer. Service charges for electronic banking are mainly monthly basic usage fees and recognized over time in the period when the related service is provided.

Financial advisory fees are received as consideration for services supporting market research and business strategy planning, which are recognized over time in the period when the related service is provided. Service charges for software development are recognized mainly over time in the period when the related service is provided.

Trust Fees mainly consists of trust fees earned through fiduciary asset management and administrative service, which are recognized at the point on creation of the trust or completion date specified in the contract, or over time in the period when the related service is provided.

Part of other ordinary income includes underwriting fees from trading securities, credit card interchange fees and asset management business fees which are within the scope of “Accounting Standard for Revenue Recognition.” Underwriting fees are recognized at the point on the date which all the consideration of the transaction are fixed. Credit card interchange fees are recognized at the point on the settlement of the credit card payment transactions. Asset management business fees consist of investment trust management fees and investment advisory fees for investment trusts, which are recognized over time in the period when the related service is provided.

(18) Assets and Liabilities denominated in foreign currencies

Assets and liabilities denominated in foreign currencies and accounts of overseas branches of domestic consolidated banking subsidiaries and a domestic consolidated trust banking subsidiary are translated into Japanese yen primarily at the exchange rates in effect at the interim consolidated balance sheet date, with the exception of the investments in affiliates not under the equity method, which are translated at historical exchange rates.

Assets and liabilities denominated in foreign currencies of the consolidated subsidiaries, except for the transactions mentioned above, are translated into Japanese yen primarily at the exchange rates in effect at the respective interim balance sheet dates.

(19) Hedge Accounting
(a) Interest Rate Risk
--- ---

The deferred method, the fair-value hedge method or the exceptional accrual method for interest rate swaps are applied as hedge accounting methods.

The portfolio hedge transaction for a large volume of small-value monetary claims and liabilities of domestic consolidated banking subsidiaries and domestic consolidated trust banking subsidiaries is accounted for in accordance with the method stipulated in the “Accounting and Auditing Treatment relating to Adoption of Accounting Standards for Financial Instruments for Banks” (JICPA Industry Committee Practical Guideline No.24, March 17, 2022).

The effectiveness of hedging activities for the portfolio hedge transaction for a large volume of small-value monetary claims and liabilities is assessed as follows:

i) as for hedging activities to offset market fluctuation risks, effectiveness is assessed by bracketing both the<br>hedged instruments, such as deposits and loans, and the hedging instruments, such as interest-rate swaps, in the same maturity bucket.
ii) as for hedging activities to fix the cash flows, effectiveness is assessed based on the correlation between a<br>base interest rate index of the hedged instrument and that of the hedging instrument.
--- ---

The effectiveness of the individual hedge is assessed based on the comparison of the fluctuation in the market or of cash flows of the hedged instruments with that of the hedging instruments.

- 16 -

(b) Foreign Exchange Risk

Domestic consolidated banking subsidiaries and domestic consolidated trust banking subsidiaries apply the deferred method of hedge accounting to hedge foreign exchange risks associated with various financial assets and liabilities denominated in foreign currencies as stipulated in the “Accounting and Auditing Treatment relating to Adoption of Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Committee Practical Guideline No.25, October 8, 2020). The effectiveness of the hedge is assessed by confirming that the amount of the foreign currency position of the hedged monetary claims and liabilities is equal to or larger than that of currency-swap transactions, exchange swap transactions, and similar transactions designated as the hedging instruments of the foreign exchange risk.

In addition to the above methods, these subsidiaries apply the deferred method or the fair-value hedge method to portfolio hedges of the foreign exchange risks associated with investments in subsidiaries and affiliates in foreign currency and Other Securities in foreign currency (except for bonds) identified as hedged items in advance, as long as the amount of foreign currency payables of spot and forward foreign exchange contracts exceeds the amount of acquisition cost of the hedged foreign securities in foreign currency.

(c) Inter-company Transactions

Inter-company interest rate swaps, currency swaps and similar derivatives among consolidated companies or between trading accounts and other accounts, which are designated as hedges, are not eliminated, and related gains and losses are recognized in the statement of income or deferred under hedge accounting, because these inter-company derivatives are executed according to the criteria for appropriate outside third-party cover operations which are treated as hedge transactions objectively in accordance with JICPA Industry Committee Practical Guideline No. 24 and 25.

As for certain assets and liabilities of MHFG and its consolidated subsidiaries, the deferred method, the fair-value hedge method or the exceptional accrual method for interest rate swaps are applied.

(20) Scope of Cash and Cash Equivalents on Interim Consolidated Statements of Cash Flows

In the interim consolidated statements of cash flows, Cash and Cash Equivalents consist of cash and due from central banks included in “Cash and Due from Banks” on the interim consolidated balance sheet.

(21) Adoption of the Japanese Group Relief System

MHFG and some of its domestic consolidated subsidiaries have adopted the Japanese Group Relief System.

- 17 -

Additional Information

The Board Benefit Trust (“BBT”) Program

Since MHFG operates its business to contribute to the creation of value for diverse stakeholders and realize improved corporate value through the continuous and stable growth of the MHFG Group pursuant to MHFG’s basic management policy defined under the Mizuho Financial Group’s Corporate Identity, MHFG has introduced a stock compensation program using a trust (the “Program”) that functions as an incentive for each director, executive officer, operating officer, and others (the “Officers”) to exert maximum effort in performing his or her duties, and also as consideration for such exertion of effort.

(1) Outline of the Program

The Program has adopted the Board Benefit Trust (“BBT”) framework. MHFG’s shares on the stock market will be acquired through a trust established based on the underlying funds contributed by MHFG, and MHFG’s shares will be distributed to each of the Officers of MHFG, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd. set forth in the Rules on Distribution of Shares to be prescribed in advance. The framework consists of the stock compensation program based on the Officers’ responsibilities in their respective company (“Stock Compensation I”), the stock compensation program based on the performance evaluation of the MHFG Group (“Stock Compensation II”) and the stock benefit program based on the Officers’ responsibilities in their respective company and the performance evaluation of the MHFG Group, which distributes MHFG’s shares (“Stock Benefit”).

Stock Compensation I will be paid at the time of retirement in the form of shares of MHFG calculated based on the Officers’ responsibilities. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual.

Stock Compensation II will be paid in the form of shares of MHFG and will be deferred over three years, which is calculated based on the status of achieving financial-related indicators and evaluation of stakeholder-related indicators that the MHFG Group regard as important in order to improve corporate value over the medium to long term. A system is adopted which enables a decrease or forfeiture of the amount of the deferred portion depending on the performance of the company or the individual.

Stock Benefit will be paid in the collective form of MHFG’s share which is based on responsibilities in their respective company and the performance evaluation of the MHFG Group. Reduction and forfeit of the benefit can occur in the program.

Upon the payment of stock compensation under the Program, MHFG may, for a certain portion, pay a monetary amount equivalent to the market value of its stock in lieu of stock compensation set forth in the Rules on Distribution of Shares.

Voting rights related to MHFG’s shares belonging to the trust assets under the trust shall not be exercised.

(2) MHFG’s Shares Outstanding in the Trust

MHFG’s shares outstanding in the trust are recognized as Treasury Stock under Net Assets at the carrying amount (excluding the amount of incidental expenses) in the trust. The carrying amount of such Treasury Stock as of September 30, 2025 was ¥5,540 million for 2,171 thousand shares (the carrying amount as of March 31, 2025 was ¥5,034 million for 2,376 thousand shares).

(3) The Scope of the Officers Eligible to Receive Beneficiary Rights and Other Rights under This Program<br>

The Officers of MHFG and certain consolidated subsidiaries who have satisfied the requirements for benefits set forth in the Rules on Distribution of Shares.

- 18 -

Notes to Interim Consolidated Balance Sheet

*1. The total amount of shares and investments in affiliates
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Shares 638,999 639,576
Investments 595 595
*2. Secured loaned securities, which are included in Japanese Government Bonds under Securities, are as follows:<br>
--- ---
(Millions of yen)
--- --- --- ---
As of March 31, 2025 As of September 30, 2025
138,735 138,796

In certain transactions, MHFG has the right to sell or repledge the following unsecured borrowed securities, securities purchased under resale agreements and securities borrowed with cash collateral.

(Millions of yen)
As of March 31, 2025 As of September 30, 2025
Securities repledged 28,999,101 28,244,457
Securities neither repledged nor re-loaned at the end of<br>the period/the fiscal year 8,188,227 10,586,548
*3. Claims based on Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions are<br>as follows. The claims consist of those included in the accounts of bonds included in “Securities” (its principal’s redemption and interest payments are guaranteed, in whole or in part, and the corporate bonds issue is limited to a<br>private placement of the securities (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act.)), “Loans,” “Foreign Exchanges Assets,” accrued interest and suspense payment in “Other Assets” and<br>“Customers’ Liabilities for Acceptances and Guarantees” in the interim consolidated balance sheet, and securities in the notes in case they are loans (limited to those under a loan for use or lease agreement).<br>
--- ---
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Claims against Bankrupt and Substantially Bankrupt Obligors 32,484 43,699
Claims with Collection Risk 576,200 318,516
Claims for Special Attention 438,626 430,465
Loans Past Due for 3 Months or More 271 584
Restructured Loans 438,355 429,881
Sub-total 1,047,311 792,681
Normal Claims 106,430,161 107,911,422
Total 107,477,473 108,704,104

- 19 -

Claims against Bankrupt and Substantially Bankrupt Obligors are claims against debtors in bankruptcy due to the commencement of bankruptcy procedures, the commencement of reorganization proceedings, the petition for the commencement of rehabilitation proceedings, and claims equivalent to these.

Claims with Collection Risk are claims of which the debtor is not yet in a state of bankruptcy, but its financial position and business performance have deteriorated, and it is highly probable that principal’s collection and interest on claims in accordance with the terms of the contract will not be received. These claims do not fall under the category of Claims against Bankrupt and Substantially Bankrupt Obligors.

Loans Past Due for 3 Months or More are loans on which payments of principal and/or interest have not been made for a period of three months or more since the next day following the first due date, and which are not included in Claims against Bankrupt and Substantially Bankrupt Obligors, or Claims with Collection Risk.

Restructured Loans represent loans whose contracts were amended in favor of obligors (e.g., reduction of, or exemption from, stated interest, deferral of interest payments, extension of maturity dates and renunciation of claims) in order to assist or facilitate the restructuring of the obligors. Claims against Bankrupt and Substantially Bankrupt Obligors, Claims with Collection Risk and Loans Past Due for 3 Months or More are not included.

Normal Claims are deemed to have no particular problem with the obligor’s financial position and business performance and are classified as other than Claims against Bankrupt and Substantially Bankrupt Obligors, Claims with Collection Risk, Loans Past Due for 3 Months or More and Restructured Loans.

The amounts given in above are gross amounts before deduction of amounts for the Allowances for Loan Losses.

*4. In accordance with Committee Practical Guideline No. 24, bills discounted are accounted for as financing<br>transactions. The banking subsidiaries have rights to sell or pledge these commercial bills, foreign exchange bills purchased and others. The face values of these bills are as follows:
(Millions of yen)
--- --- --- ---
As of March 31, 2025 As of September 30, 2025
1,190,173 1,290,065

- 20 -

*5. Breakdown of assets pledged as collateral is as follows:
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
The following assets are pledged as collateral
Trading Assets 5,691,565 9,146,955
Securities 13,435,741 8,795,904
Loans and Bills Discounted 9,740,159 7,633,814
Total 28,867,466 25,576,673
The following liabilities are collateralized by the above assets:
Deposits 843,563 910,768
Payables under Repurchase Agreements 16,668,981 16,906,520
Guarantee Deposits Received under Securities Lending Transactions 1,750,426 678,625
Borrowed Money 2,574,980 3,196,265

In addition to the above, the following items are pledged as collateral in connection with the settlement accounts of foreign and domestic exchange transactions or derivatives transactions and others or as a substitute for margins for futures transactions and others:

(Millions of yen)
As of March 31, 2025 As of September 30, 2025
Cash and Due from Banks 52,102 36,942
Trading Assets 819,159 971,542
Securities 3,697,668 4,205,458
Loans and Bills Discounted 43,800 42,119

In addition, the following item is pledged as collateral under general collateral repurchase agreements using the subsequent collateral allocation method:

(Millions of yen)
As of March 31, 2025 As of September 30, 2025
Securities 499,798 1,134,106

Other Assets includes margins for futures transactions, guarantee deposits, and collateral pledged for financial instruments and others as follows:

(Millions of yen)
As of March 31, 2025 As of September 30, 2025
Margins for Futures Transactions 229,718 226,969
Guarantee Deposits 82,351 79,680
Collateral Pledged for Financial Instruments and Others 1,506,895 1,516,154

- 21 -

*6. Overdraft protection on current accounts and contracts of the commitment line for loans are contracts by which<br>banking subsidiaries are bound to extend loans up to a prearranged amount, at the request of customers, unless the customer is in breach of contract conditions. The unutilized balance of these contracts amounts is as follows:
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Unutilized balance 122,456,400 123,458,002
Amount relating to contracts of which the original contractual maturity is one year or less, or<br>which are unconditionally cancelable at any time 81,050,047 81,286,434

Since many of these contracts expire without being exercised, the unutilized balance itself does not necessarily affect future cash flows. A provision is included in many of these contracts that entitles the banking subsidiaries to refuse the execution of loans, or reduce the maximum amount under contracts when there is a change in the financial situation, necessity to preserve a claim or other similar reasons. The banking subsidiaries require collateral such as real estate and securities when deemed necessary at the time the contract is entered into. In addition, they periodically monitor customers’ business conditions in accordance with internally established standards and take necessary measures to manage credit risks such as amendments to contracts.

*7. In accordance with the Land Revaluation Law (Proclamation No. 34 dated March 31, 1998), land used for<br>business operations of domestic consolidated banking subsidiaries was revalued. The applicable income taxes on the entire excess of revaluation are included in Deferred Tax Liabilities for Revaluation Reserve for Land under Liabilities, and the<br>remainder, net of applicable income taxes, is stated as Revaluation Reserve for Land included in Net Assets.

Revaluation date: March 31, 1998

Revaluation method as stated in Article 3, Paragraph 3 of the above law: Land used for business operations was revalued by calculating the value on the basis of the valuation by road rating stipulated in Article 2, Paragraph 4 of the Enforcement Ordinance relating to the Land Revaluation Law (Government Ordinance No. 119 promulgated on March 31, 1998) with reasonable adjustments to compensate for sites with long depth and other factors, and also on the basis of the appraisal valuation stipulated in Paragraph 5.

*8. Accumulated Depreciation of Tangible Fixed Assets
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Accumulated Depreciation 759,727 769,921
*9. Borrowed Money includes subordinated borrowed money with a covenant that performance of the obligation is<br>subordinated to that of other obligations.
--- ---
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Subordinated Borrowed Money 214,000 214,000
*10. Bonds and Notes includes subordinated bonds.
--- ---
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Subordinated Bonds 3,352,677 3,675,557

- 22 -

11. The principal amounts of money trusts with contracts indemnifying the principal amounts, which are entrusted to<br>domestic consolidated trust banking subsidiaries, are as follows:
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Money trusts 714,696 680,292
*12. Liabilities for guarantees on corporate bonds included in “Securities,” which are issued by private<br>placement (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)
--- ---
(Millions of yen)
--- --- --- ---
As of March 31, 2025 As of September 30, 2025
767,900 662,099

- 23 -

Notes to Interim Consolidated Statement of Income

*1. Other Ordinary Income includes the following:
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Gains on Sales of Stocks 152,045 153,428
Provision of Allowance for Doubtful Accounts 13,923 49,472
Share of Profit of Entities Accounted for Using Equity Method 27,771 26,680
*2. Operating Expenses includes the following:
--- ---
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Personnel Expenses 419,962 466,899
Depreciation 93,560 105,310
*3. Other Ordinary Expenses includes the following:
--- ---
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Loan Write-off 7,952 14,221
Losses on Sales of Stocks 65,576 13,596
*4. Extraordinary Gains includes the following:
--- ---
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Gains on Cancellation of Employee Retirement Benefit Trust 3,788 38,566
Gains on Disposition of Fixed Assets 36,122 11,783
Accumulation (Amortization) of Unrecognized Prior Service Cost 9,015 —

“Accumulation (Amortization) of Unrecognized Prior Service Cost” resulted from prior service cost incurred in connection with the revision of the retirement benefit plan.

*5. Extraordinary Losses is as follows:
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Losses on Disposition of Fixed Assets 3,883 4,146
Losses on Impairment of Fixed Assets 1,564 992
*6. MHFG Group applies paragraph 7 of Accounting for and Disclosure of Current Taxes Related to the Global Minimum<br>Tax Rules (ASBJ PITF No. 46, March 22, 2024) and does not record income taxes related to the global minimum tax rules in the consolidated financial statements for the first six months of the fiscal year under review.
--- ---

- 24 -

Notes to Interim Consolidated Statement of Changes in Net Assets

For the six months ended September 30, 2024

1. Types and number of issued shares and of treasury stock are as follows:
(Thousands of shares)
--- --- --- --- --- --- --- --- --- --- --- ---
As of<br>April 1, 2024 Increase during<br>the period Decrease during<br>the period As of<br>September 30, 2024 Remarks
Issued Shares
Common Stock 2,539,249 — — 2,539,249
Total 2,539,249 — — 2,539,249
Treasury Stock
Common Stock 4,739 834 1,283 4,291 (Note )
Total 4,739 834 1,283 4,291
(Note) Increases are due to acquisition of treasury stock by BBT trust account (522 thousand shares) and repurchase of shares constituting less than one unit and other factors (312 thousand shares). Decreases are due to<br>distribution and sale of treasury stock through BBT trust account (1,055 thousand shares), and repurchase of shares constituting less than one unit and other factors (228 thousand shares). The number of shares as of September 30, 2024<br>includes the number of treasury stock held by BBT trust account (2,377 thousand shares).
--- ---
2. Stock acquisition rights and treasury stock acquisition rights are as follows:
--- ---
Category Breakdown<br><br><br>of stock<br><br><br>acquisition<br><br><br>rights Class of shares<br>to be issued or<br>transferred upon<br>exerciseof<br>stock acquisition<br>rights Number of shares to be issued or transferred upon<br>exercise of stock acquisition rights (Shares) Balance as of<br>September 30,2024<br>(Millions of yen) Remarks
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
As of<br>April 1,<br>2024 Increase<br>during the<br>period Decrease<br>during the<br>period As of<br>September<br>30, 2024
MHFG Stock acquisition rights (Treasury stock<br>acquisition rights) — — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— )
Stock acquisition rights<br> <br>as stock<br>option — 5
Consolidated subsidiaries (Treasury stock acquisition rights) — — <br> <br>(— )
Total — 5<br> <br>(— )

- 25 -

3. Cash dividends distributed by MHFG are as follows:
(1) Cash dividends paid during the six months ended September 30, 2024
--- ---
Resolution Type Cash Dividends<br><br><br>(Millions of yen) Cash<br><br><br>Dividends<br> <br>per Share<br><br><br>(Yen) Record Date Effective Date
--- --- --- --- --- ---
May 15, 2024<br><br><br><br><br><br>The Board of Directors Common Stock 139,610 55.00 March 31, 2024 June 6, 2024
(Note) Cash dividends based on the resolution of the Board of Directors held on May 15, 2024 include ¥160 million of cash dividends on treasury stock held by BBT trust account.
--- ---
(2) Cash dividends with record dates falling in the six months ended September 30, 2024 and effective dates<br>coming after the end of the period
--- ---
Resolution Type Cash Dividends<br><br><br>(Millions of yen) Resource of<br><br><br>Dividends Cash<br><br><br>Dividends<br> <br>per Share<br><br><br>(Yen) Record Date Effective Date
--- --- --- --- --- --- ---
November 14, 2024<br><br><br><br><br><br>The Board of Directors Common Stock 164,993 Retained Earnings 65.00 September 30, 2024 December 6, 2024
(Note) Cash dividends based on the resolution of the Board of Directors held on November 14, 2024 include ¥154 million of cash dividends on treasury stock held by BBT trust account.
--- ---

- 26 -

For the six months ended September 30, 2025

1. Types and number of issued shares and of treasury stock are as follows:
(Thousands of shares)
--- --- --- --- --- --- --- --- --- --- --- ---
As ofApril 1, 2025 Increase during<br>the period Decrease during<br>the period As ofSeptember 30, 2025 Remarks
Issued Shares
Common Stock 2,513,757 — 23,909 2,489,848 (Note 1 )
Total 2,513,757 — 23,909 2,489,848
Treasury Stock
Common Stock 4,233 24,834 24,728 4,339 (Note 2 )
Total 4,233 24,834 24,728 4,339
(Note 1) Decrease is due to cancellation of treasury stock (23,909 thousand shares)
--- ---
(Note 2) Increases are due to repurchase of treasury stock (23,909 thousand shares), acquisition of treasury stock by BBT trust account (612 thousand shares) and repurchase of shares constituting less than one unit and other<br>factors (312 thousand shares). Decreases are due to cancellation of treasury stock (23,909 thousand shares), distribution of treasury stock through BBT trust account (818 thousand shares) and other factors. The number of shares as of<br>September 30, 2025 includes the number of treasury stock held by BBT trust account (2,171 thousand shares).
2. Stock acquisition rights and treasury stock acquisition rights are as follows:
--- ---
Category Breakdown<br><br><br>of stock<br><br><br>acquisition<br><br><br>rights Class of sharesto be issued or<br>transferred upon<br>exercise of<br>stock acquisition<br>rights Number of shares to be issued or transferred upon<br>exercise of stock acquisition rights (Shares) Balance as of<br>September 30,2025<br>(Millions of yen) Remarks
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
As of<br>April 1,<br>2025 Increase<br>during the<br>period Decrease<br>during the<br>period As of<br>September 30,2025
MHFG Stock acquisition rights (Treasury stock acquisition rights) — — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— ) — <br> <br>(— )
Stock acquisition rights as stock option — 5
Consolidated subsidiaries (Treasury stock acquisition rights) — — <br> <br>(— )
Total — 5<br> <br>(— )

- 27 -

3. Cash dividends distributed by MHFG are as follows:
(1) Cash dividends paid during the six months ended September 30, 2025
--- ---
Resolution Type Cash Dividends<br><br><br>(Millions of yen) Cash<br><br><br>Dividends<br> <br>per Share<br><br><br>(Yen) Record Date Effective Date
--- --- --- --- --- ---
May 15, 2025<br><br><br><br><br><br>The Board of Directors Common Stock 188,463 75.00 March 31, 2025 June 6, 2025
(Note) Cash dividends based on the resolution of the Board of Directors held on May 15, 2025 include ¥178 million of cash dividends on treasury stock held by BBT trust account.
--- ---
(2) Cash dividends with record dates falling in the six months ended September 30, 2025 and effective dates<br>coming after the end of the period
--- ---
Resolution Type Cash Dividends<br><br><br>(Millions of yen) Resource ofDividends CashDividendsper Share<br><br><br>(Yen) Record Date Effective Date
--- --- --- --- --- --- ---
November 14, 2025<br><br><br><br><br><br>The Board of Directors Common Stock 180,447 Retained Earnings 72.50 September 30, 2025 December 5, 2025
(Note) Cash dividends based on the resolution of the Board of Directors held on November 14, 2025 include ¥157 million of cash dividends on treasury stock held by BBT trust account.
--- ---

- 28 -

Notes to Interim Consolidated Statement of Cash Flows

*1. Cash and Cash Equivalents at the end of the period on the Interim Consolidated Statement of Cash Flows<br>reconciles to Cash and Due from Banks on the Interim Consolidated Balance Sheet as follows:
(Millions of yen)
--- --- --- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Cash and Due from Banks 71,620,559 67,287,879
Due from Banks excluding central banks (1,743,865 ) (1,894,641 )
Cash and Cash Equivalents 69,876,694 65,393,238

- 29 -

Lease Transactions

Operating Leases

The future lease payments subsequent to the end of the fiscal year for non-cancelable operating lease transactions are summarized as follows:

(1) Lessees:
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Due in One Year or Less 45,819 45,613
Due after One Year 263,019 266,039
Total 308,838 311,653
(2) Lessors:
--- ---
(Millions of yen)
--- --- --- --- ---
As of March 31, 2025 As of September 30, 2025
Due in One Year or Less 1,286 2,734
Due after One Year 2,629 851
Total 3,916 3,586

- 30 -

Financial Instruments

1. Matters relating to fair value of financial instruments and breakdown of fair value by level<br>

The following are the interim consolidated balance sheet amounts (the consolidated balance sheet amounts), fair values, differences between them and breakdown of fair values by level. Stocks and others without a quoted market price and Investments in Partnerships and others are excluded from the table below (see (Note 3)). In addition, notes concerning Cash and Due from Banks, Call Loans and Bills Bought, Receivables under Resale Agreements, Guarantee Deposits Paid under Securities Borrowing Transactions, Foreign Exchanges (assets / liabilities), Call Money and Bills Sold, Payables under Repurchase Agreements, Guarantee Deposits Received under Securities Lending Transactions, and Due to Trust Accounts are omitted since these instruments are mainly settled in the short term and the fair values approximate the book values.

Fair values of financial instruments are categorized into three levels as below on the basis of the observability and the materiality of the valuation inputs used in fair value measurements.

Fair values of Level 1: Fair values measured by quoted prices of the assets or liabilities being measured which are given in active markets among observable valuation inputs

Fair values of Level 2: Fair values measured by inputs other than inputs included within Level 1 among observable valuation inputs

Fair values of Level 3: Fair values measured by unobservable valuation inputs

When several inputs that have significant impact on fair value measurement are used and those inputs are categorized into different levels, the fair value is categorized into the lowest priority level for fair value measurement among the levels in which each of the inputs belongs.

- 31 -

(1) Financial instruments recorded at fair value in the interim consolidated balance sheet (the consolidated<br>balance sheet)

As of March 31, 2025

(Millions of yen)
Consolidated Balance Sheet Amount
Category Level 1 Level 2 Level 3 Total
Monetary Claims Bought — 67,413 6,313 73,726
Trading Assets
Trading Securities
Japanese Government Bonds 1,688,939 15,625 — 1,704,564
Japanese Local Government Bonds — 96,252 — 96,252
Japanese Corporate Bonds — 1,309,083 3,501 1,312,584
Stocks 838,801 — — 838,801
Other 1,951,140 5,005,834 84,576 7,041,551
Money Held in Trust — 596,740 5 596,746
Securities
Other Securities
Stocks 2,593,132 — 9,735 2,602,868
Japanese Government Bonds 7,945,985 424,454 — 8,370,439
Japanese Local Government Bonds — 547,739 — 547,739
Japanese Corporate Bonds — 2,218,922 113,730 2,332,653
Foreign Bonds 5,947,861 6,087,345 81,333 12,116,540
Other (*1) 518,428 1,513,388 18,213 2,050,030
Total Assets 21,484,289 17,882,801 317,410 39,684,501
Trading Liabilities
Securities Sold, Not yet Purchased 3,319,729 630,961 32 3,950,723
Bonds and Notes — 1,044,115 808 1,044,924
Other Liabilities
Short Positions In Bonds — 990,264 — 990,264
Total Liabilities 3,319,729 2,665,342 841 5,985,912
Derivative Transactions (*2,3)
Interest Rate and Bond-Related Transactions 7,199 16,291 18,917 42,408
Currency-Related Transactions — (301,328 ) 9,229 (292,098 )
Stocks-Related Transactions 11,274 24,215 (52,004 ) (16,513 )
Commodity-Related Transactions (3,091 ) 1,921 1,444 274
Credit Derivative Transactions — 38,719 (517 ) 38,201
Total Derivative Transactions 15,382 (220,179 ) (22,930 ) (227,727 )
(*1) The investment trusts accounted for under Article 24-3 and 24-9 of “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31, June 17, 2021) are regarded to have fair value equal to their net asset value, and therefore<br>are not included in the above table. The relevant investment trusts in Article 24-3 and 24-9 are ¥17,376 million and ¥62,671 million, respectively, in<br>the consolidated balance sheet.
--- ---
(*2) Derivative Transactions recorded in Trading Assets, Trading Liabilities, Derivatives other than for Trading<br>Assets, Derivatives other than for Trading Liabilities, and others are presented as a lump sum. Net claims and debts that arose from derivative transactions are presented on a net basis, and the item that is net debts in total is presented in<br>brackets.
--- ---
(*3) Derivative Transactions applying for hedge accounting are ¥(722,361) million in the consolidated balance<br>sheet. The deferred method is mainly applied.
--- ---

- 32 -

As of September 30, 2025

(Millions of yen)
Interim Consolidated Balance Sheet Amount
Category Level 1 Level 2 Level 3 Total
Monetary Claims Bought — 46,403 5,764 52,168
Trading Assets
Trading Securities
Japanese Government Bonds 2,130,768 10,145 — 2,140,914
Japanese Local Government Bonds — 146,681 — 146,681
Japanese Corporate Bonds — 1,909,814 2,584 1,912,399
Stocks 1,055,234 — — 1,055,234
Other 2,025,033 6,392,719 166,551 8,584,304
Money Held in Trust — 722,431 5 722,437
Securities
Other Securities
Stocks 2,932,383 — 11,036 2,943,420
Japanese Government Bonds 10,524,654 467,845 — 10,992,499
Japanese Local Government Bonds — 520,945 — 520,945
Japanese Corporate Bonds — 1,973,412 103,205 2,076,617
Foreign Bonds 7,022,518 6,187,431 93 13,210,043
Other (*1) 535,730 1,771,644 16,540 2,323,915
Total Assets 26,226,323 20,149,475 305,784 46,681,584
Trading Liabilities
Securities Sold, Not yet Purchased 3,820,558 827,681 32 4,648,272
Bonds and Notes — 1,028,952 806 1,029,758
Other Liabilities
Short Positions In Bonds — 776,654 — 776,654
Total Liabilities 3,820,558 2,633,288 838 6,454,685
Derivative Transactions (*2,3)
Interest Rate and Bond-Related Transactions (2,934 ) 35,905 16,039 49,010
Currency-Related Transactions — 241,205 7,528 248,734
Stocks-Related Transactions (97,295 ) (103,085 ) (130,180 ) (330,561 )
Commodity-Related Transactions (5,586 ) 224 144 (5,217 )
Credit Derivative Transactions — 48,707 (4,020 ) 44,686
Total Derivative Transactions (105,815 ) 222,957 (110,488 ) 6,652
(*1) The investment trusts accounted for under Article 24-3 and 24-9 of “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31, June 17, 2021) are regarded to have fair value equal to their net asset value, and therefore<br>are not included in the above table. The relevant investment trusts in Article 24-3 and 24-9 are ¥37,406 million and ¥62,387 million, respectively, in<br>the interim consolidated balance sheet.
--- ---
(*2) Derivative Transactions recorded in Trading Assets, Trading Liabilities, Derivatives other than for Trading<br>Assets, Derivatives other than for Trading Liabilities, and others are presented as a lump sum. Net claims and debts that arose from derivative transactions are presented on a net basis, and the item that is net debts in total is presented in<br>brackets.
--- ---
(*3) Derivative Transactions applying for hedge accounting are ¥(636,954) million in the interim consolidated<br>balance sheet. The deferred method is mainly applied.
--- ---

- 33 -

(2) Financial instruments other than financial instruments recorded at fair value in the interim consolidated<br>balance sheet (the consolidated balance sheet)

As of March 31, 2025

(Millions of yen)
Fair Value ConsolidatedBalance<br>Sheet Amount Difference
Category Level 1 Level 2 Level 3 Total
Monetary Claims Bought — — 3,858,700 3,858,700 3,858,700 —
Money Held in Trust — — 30,742 30,742 30,742 —
Securities
Bonds Held to Maturity
Japanese Government Bonds 399,879 — — 399,879 419,479 (19,600 )
Foreign Bonds — 3,627,502 — 3,627,502 3,763,649 (136,147 )
Loans and Bills Discounted 94,108,757
Allowances for Loan Losses (*) (663,089 )
— 89,836 94,456,858 94,546,695 93,445,668 1,101,027
Total Assets 399,879 3,717,338 98,346,301 102,463,519 101,518,240 945,278
Deposits — 158,642,902 — 158,642,902 158,746,762 (103,859 )
Negotiable Certificates of Deposit — 14,397,810 — 14,397,810 14,398,784 (973 )
Borrowed Money — 3,869,770 113,650 3,983,421 4,008,514 (25,093 )
Bonds and Notes — 10,709,114 872,430 11,581,544 11,832,870 (251,325 )
Total Liabilities — 187,619,598 986,080 188,605,679 188,986,931 (381,252 )
(*) General and Specific Allowances for Loan Losses relevant to Loans and Bills Discounted are excluded. Items<br>other than Loans and Bills Discounted are recorded at the consolidated balance sheet amounts due to immateriality of their reserves.
--- ---

As of September 30, 2025

(Millions of yen)
Fair Value InterimConsolidatedBalance<br>Sheet Amount Difference
Category Level 1 Level 2 Level 3 Total
Monetary Claims Bought — — 4,428,407 4,428,407 4,428,407 —
Money Held in Trust — — 28,320 28,320 28,320 —
Securities
Bonds Held to Maturity
Japanese Government Bonds 399,222 — — 399,222 419,523 (20,301 )
Foreign Bonds — 3,643,313 — 3,643,313 3,748,646 (105,332 )
Loans and Bills Discounted 94,264,066
Allowances for Loan Losses (*) (406,399 )
— 51,494 94,699,371 94,750,865 93,857,667 893,197
Total Assets 399,222 3,694,807 99,156,099 103,250,128 102,482,565 767,563
Deposits — 160,254,513 — 160,254,513 160,362,897 (108,383 )
Negotiable Certificates of Deposit — 13,766,970 — 13,766,970 13,767,971 (1,000 )
Borrowed Money — 4,487,850 108,094 4,595,945 4,621,890 (25,944 )
Bonds and Notes — 11,930,005 985,768 12,915,773 13,060,539 (144,765 )
Total Liabilities — 190,439,340 1,093,863 191,533,204 191,813,299 (280,094 )
(*) General and Specific Allowances for Loan Losses relevant to Loans and Bills Discounted are excluded. Items<br>other than Loans and Bills Discounted are recorded at the interim consolidated balance sheet amounts due to immateriality of their reserves.
--- ---

- 34 -

(Note 1) Explanation of valuation techniques and valuation inputs used in fair value measurements

Assets

Monetary Claims Bought

Fair values of securitized products of Monetary Claims Bought are based on the values deemed as market prices obtained by the model such as those obtained from brokers and financial information vendors and are categorized as Level 3 when significant unobservable valuation inputs are used for the obtained price and as Level 2 when other inputs are used.

With respect to Monetary Claims Bought other than those described above, when the present values of the expected future cash flows are considered to be fair values, those Monetary Claims Bought are mainly categorized as Level 3 since the discount rate and other significant valuation inputs are unobservable. When those are short term in nature and the book values are considered to be fair values, those Monetary Claims Bought are categorized as Level 3.

Trading Assets

Fair values of Trading Assets for which unadjusted quoted market prices in active markets are available are categorized as Level 1, which includes mainly government bonds.

In the case the market is inactive even if the quoted market price is available, those Trading Assets are categorized as Level 2, which includes mainly local government bonds and corporate bonds.

When fair values are measured at the discounted cash flow method and others using significant unobservable inputs, those Trading Assets are categorized as Level 3.

Money Held in Trust

With respect to securities managed as trust assets in a directed money trust for separate investment with the management of securities as its primary purpose, fair values of stocks are measured at the price in stock exchanges and bonds are measured at market price or valuation price obtained from brokers or financial information vendors and are categorized as Level 2 or Level 3 based on the level of components.

The notes to Money Held in Trust based on holding purpose are stated in (Money Held in Trust.)

Securities

Fair values of Securities for which unadjusted quoted market prices in active markets are available are categorized as Level 1 which includes mainly stocks and government bonds. In the case the market is inactive even if the quoted market price is available, those Securities are categorized as Level 2, which includes mainly local government bonds and corporate bonds.

Fair values of investment trusts are measured at the market price or the disclosed net asset value and others. Those for which unadjusted quoted market prices in active markets are available are categorized as Level 1 and that are not available as Level 2. Additionally the investment trusts for which there are no transaction prices in markets with no significant limitations from market participants to demand compensation for the risk are valued using net asset value and are categorized as Level 2.

Fair values of private placement bonds are measured by discounting the total amount of principal and interest and others at interest rates based on the discount rate reflecting expected loss and various risk factors to market yield by categories based on the internal ratings and terms and are categorized as Level 3 when the impact from unobservable valuation inputs is significant and as Level 2 when it is not significant.

Fair values of securitized products are based on valuations obtained from brokers and others, and on model-based prices based on the reasonable estimates of our management. These are categorized as Level 3 when significant unobservable valuation inputs are used and as Level 2 when other inputs are used. In deriving model-based prices based on the reasonable estimates of our management mentioned above, we used the discounted cash flow method. The price decision variables include default rates, recovery rates, prepayment rates, and discount rates.

The notes to Securities based on holding purpose are stated in (Securities).

- 35 -

Loans and Bills Discounted

Fair values of Loans and Bills Discounted are mainly measured by discounting the total amount of principal and interest and others at interest rates based on the discount rate reflecting expected loss and various risk factors by categories according to the types, internal ratings and terms of the Loans and Bills Discounted and are categorized as Level 3 since the discount rate is unobservable.

In addition, fair values of claims against bankrupt obligors, substantially bankrupt obligors, and intensive control obligors whose bad debts are mainly measured at the present value of the expected future cash flows or the estimated amounts calculated based on the recoverability from collateral and guarantees approximate the amount of claims and others minus the amount of Allowances for Loan Losses in the consolidated balance sheet as of the consolidated balance sheet date and those amounts are considered to be fair values which are categorized as Level 3.

Among the Loans and Bills Discounted, for those without a fixed maturity due to loan characteristics such as limiting loans to within the value of pledged assets, book values are considered to be fair values since fair values are expected to approximate book values based on the estimated loan periods, interest rates and other conditions. Fair values of those Loans and Bills Discounted are categorized as Level 3.

Liabilities

Deposits and Negotiable Certificates of Deposit

For demand deposits, the payment amounts required on the consolidated balance sheet date (i.e., book values) are considered to be fair values.

In addition, fair values of time deposits and Negotiable Certificates of Deposits are calculated by classifying them based on their terms and by discounting the future cash flows. The discount rates used in such calculations are the market interest rates. Since fair values of those whose deposit terms are short (i.e., within six months) approximate book values, the book values are considered to be fair values and those fair values are categorized as Level 2.

Trading Liabilities and Other Liabilities

Fair values of Trading Liabilities and short positions in bonds included in Other Liabilities for which unadjusted quoted market prices in active markets are available are categorized as Level 1, which includes mainly listed stocks and government bonds.

In the case the market is inactive even if the quoted market price is available, those Trading Liabilities are categorized as Level 2, which includes mainly corporate bonds.

When significant unobservable inputs are used, those Trading Liabilities are categorized as Level 3.

Borrowed Money

Fair values of Borrowed Money are measured mainly by discounting the total amount of the principal and interest of such Borrowed Money classified by period lengths at the interest rates considered to be applicable to similar loans and are categorized as Level 3 when the impact from unobservable valuation inputs is significant and as Level 2 when it is not significant.

Bonds and Notes

With respect to Bonds and Notes issued by MHFG and its consolidated subsidiaries, fair values of Bonds and Notes with market prices are measured at the market prices and fair values of those without market prices are calculated by discounting the total amount of the principal and interest at the interest rates considered to be applicable to similar Bonds and Notes. Bonds and notes with market prices are categorized as Level 2. Those without market prices are categorized as Level 3 when the impact from unobservable valuation inputs is significant and as Level 2 when it is not significant.

Certain foreign subsidiaries have adopted the fair value option to Bonds and Notes issued by themselves, and the fair value is calculated based on the valuation model. When unobservable inputs are not used or the impact of unobservable inputs is not material, those Bonds and Notes are categorized as Level 2. When significant unobservable inputs are used, those Bonds and Notes are categorized as Level 3.

- 36 -

Derivative Transactions

Derivative transactions that can be measured at unadjusted quoted prices in active markets are categorized as Level 1, which includes such transactions as bond futures and interest rate futures.

However, since most derivative transactions are over-the-counter transactions and there are no quoted market prices, market values are measured using valuation techniques such as the discounted cash flow method and the Black-Scholes model, depending on the type of transaction and the maturity period. The main inputs which are used in those valuation techniques are interest rate, currency rate, volatility and others. In addition, price adjustments based on credit risk of counterparty and credit risk of consolidated subsidiaries themselves and price adjustments for unsecured funding are made. When unobservable inputs are not used or impact of unobservable inputs are not material, those derivative transactions are categorized as Level 2, which includes such transactions as plain vanilla interest rate swaps and foreign exchange forwards. When significant unobservable inputs are used, those derivative transactions are categorized as Level 3, which includes transactions such as commodity related transactions.

- 37 -

(Note 2) Information relating to fair values of Level 3 among the financial instruments are recorded at fair value<br>in the interim consolidated balance sheet (the consolidated balance sheet),
(1) Quantitative information of significant unobservable valuation inputs
--- ---

As of March 31, 2025

Category Principal valuationtechnique Significant unobservablevaluation input Range of valuationinput Weighted average
Monetary Claims Bought
Securitized products Discounted cash flow method Prepayment rate 0.3% — 5.7% 3.6%
Discount rate 0.3% — 0.5% 0.3%
Trading Assets
Trading Securities Discounted cash flow method Discount rate 0.4% 0.4%
Securities
Japanese Corporate Bonds
Private placement bonds Discounted cash flow method Discount rate 0.4% — 5.6% 1.9%
Foreign Bonds
Securitized products Discounted cash flow method Prepayment rate 2.9% 2.9%
Default rate 0.2% 0.2%
Recovery rate 36.5% 36.5%
Discount rate 0.5% 0.5%
Derivative Transactions
Interest Rate and Bond-Related Transactions Option valuation model IR — IR correlation 23.1% — 100.0% —
Currency-Related Transactions Option valuation model FX — IR correlation 5.4% — 72.5% —
Stocks-Related Transactions Option valuation model Equity — IR correlation 25.0% —
Equity — FX correlation (5.3)% — 93.2% —
Equity correlation 39.9% — 100.0% —
Equity volatility 10.3% — 175.2% —
Commodity-Related Transactions Option valuation model Commodity volatility 17.1% — 27.7% —
Credit Derivative Transactions Discounted cash flow method Default rate 0.0% — 6.8% —
Credit correlation 22.8% — 100.0% —

- 38 -

As of September 30, 2025

Category Principal valuationtechnique Significant unobservablevaluation input Range of valuationinput Weighted average
Monetary Claims Bought
Securitized products Discounted cash flow method Prepayment rate 0.3% — 6.3% 3.5%
Discount rate 0.3% — 0.7% 0.4%
Trading Assets
Trading Securities Discounted cash flow method Discount rate 0.5% 0.5%
Securities
Japanese Corporate Bonds
Private placement bonds Discounted cash flow method Discount rate 0.4% — 5.6% 1.9%
Foreign Bonds
Securitized products Discounted cash flow method Prepayment rate — —
Default rate — —
Recovery rate — —
Discount rate — —
Derivative Transactions
Interest Rate and Bond-Related Transactions Option valuation model IR — IR correlation 23.1%—100.0% —
Currency-Related Transactions Option valuation model FX — IR correlation (6.2)% — 72.5% —
Stocks-Related Transactions Option valuation model Equity — IR correlation 25.0% —
Equity — FX correlation (5.3)% — 92.4% —
Equity correlation 43.8% — 100.0% —
Equity volatility 10.1% — 108.0% —
Commodity-Related Transactions Option valuation model Commodity volatility 0.0% — 32.2% —
Credit Derivative Transactions Discounted cash flow method Default rate 0.0% — 7.6% —
Credit correlation 24.8% — 100.0% —

- 39 -

(2) Adjustment sheet from beginning balance to ending balance as of interim period (ending balance as of period)<br>and unrealized gains (losses) recognized as gains (losses) for the period

As of March 31, 2025

(Millions of yen)
Beginningbalance Gains (losses) for the period/othercomprehensive income Net amountof purchase,sale, issue,andsettlement Transfer to<br>fair valuesof Level 3(*3) Transfer fromfair values ofLevel 3<br>(*4) Endingbalance as ofperiod Unrealizedgains (losses) onfinancial assetsand liabilitiesheld as ofthe consolidatedbalancesheetdate among<br>the amountrecorded togains (losses)for the period<br>(*1)
Recorded togains (losses) forthe period (*1) Recorded to othercomprehensiveincome<br>(*2)
Monetary Claims Bought 7,638 (1 ) (62 ) (1,260 ) — — 6,313 —
Trading Assets
Trading Securities
Japanese Corporate Bonds 5,000 (18 ) — (1,480 ) — — 3,501 (18 )
Stocks 48 (44 ) — (3 ) — — — —
Other 121,147 3,322 — (39,995 ) 102 — 84,576 2,807
Money Held in Trust 5 (0 ) — 0 — — 5 —
Securities
Other Securities
Stocks 10,102 81 496 (944 ) — — 9,735 —
Japanese Corporate Bonds 156,107 578 449 (32,986 ) 36,696 (47,115 ) 113,730 —
Foreign Bonds 95,914 (640 ) (148 ) (3,963 ) — (9,828 ) 81,333 —
Other 17,864 (1,230 ) 1,928 (349 ) — — 18,213 (559 )
Trading Liabilities
Securities Sold, Not yet Purchased 36 (3 ) — — — — 32 (4 )
Bonds and Notes 818 (10 ) — — — — 808 (21 )
Derivative Transactions
Interest Rate and Bond-Related Transactions 30,375 (14,458 ) — 2,999 — — 18,917 (14,748 )
Currency-Related Transactions (6,357 ) 11,038 — 4,401 — 146 9,229 12,252
Stocks-Related Transactions (6,373 ) (57,983 ) — 12,352 — — (52,004 ) (44,671 )
Commodity-Related Transactions (339 ) 1,750 — 34 — — 1,444 1,862
Credit Derivative Transactions (4,655 ) 709 — 3,441 (13 ) — (517 ) 204
(*1) Those amounts are mainly included in Trading Income, Trading Expenses, Other Operating Income and Other<br>Operating Expenses in the consolidated statement of income.
--- ---
(*2) Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income<br>in the consolidated statement of comprehensive income.
--- ---
(*3) Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs<br>which are used in fair value measurements based on market liquidity. The transfer was made at the beginning of the accounting period.
--- ---
(*4) Those are the transfers from Level 3 to Level 2, mainly due to the fact that the discount rate which<br>is used in fair value measurement of the private placement bonds was determined to be immaterial by quantitative sensitivity analysis and the fact that the inputs which are used in fair value measurement of derivatives were determined to be<br>immaterial by quantitative sensitivity analysis. The transfer was made at the beginning of the accounting period.
--- ---

- 40 -

As of September 30, 2025

(Millions of yen)
Beginningbalance Gains (losses) for the period/othercomprehensive income Net amountof purchase,sale, issue,andsettlement Transfer to<br>fair valuesof Level 3(*3) Transfer fromfair values ofLevel 3<br>(*4) Endingbalance as ofinterimperiod Unrealizedgains (losses)on financialassets andliabilitiesheld as ofthe interimconsolidatedbalancesheetdate among the amountrecorded togains (losses)for the period<br>(*1)
Recorded togains (losses) forthe period (*1) Recorded to othercomprehensiveincome<br>(*2)
Monetary Claims Bought 6,313 (0 ) (23 ) (524 ) — — 5,764 —
Trading Assets
Trading Securities
Japanese Corporate Bonds 3,501 6 — (922 ) — — 2,584 6
Stocks — — — — — — — —
Other 84,576 62,857 — (15,618 ) 35,714 (977 ) 166,551 51,795
Money Held in Trust 5 (0 ) — 0 — — 5 —
Securities
Other Securities
Stocks 9,735 41 59 1,200 — — 11,036 —
Japanese Corporate Bonds 113,730 477 765 (8,435 ) 13,778 (17,111 ) 103,205 —
Foreign Bonds 81,333 6,087 (243 ) (87,183 ) 100 — 93 —
Other 18,213 (260 ) (1,502 ) 90 — — 16,540 (11 )
Trading Liabilities
Securities Sold, Not yet Purchased 32 (0 ) — — — — 32 (1 )
Bonds and Notes 808 (2 ) — — — — 806 (27 )
Derivative Transactions
Interest Rate and Bond-Related Transactions 18,917 (5,466 ) — 2,588 — 1 16,039 (10,225 )
Currency-Related Transactions 9,229 (3,441 ) — 1,740 — — 7,528 (2,097 )
Stocks-Related Transactions (52,004 ) (89,214 ) — 11,038 — — (130,180 ) (50,079 )
Commodity-Related Transactions 1,444 (967 ) — (333 ) — — 144 (1,000 )
Credit Derivative Transactions (517 ) (5,492 ) — 2,005 2 (17 ) (4,020 ) (1,877 )
(*1) Those amounts are mainly included in Trading Income, Trading Expenses, Other Operating Income and Other<br>Operating Expenses in the interim consolidated statement of income.
--- ---
(*2) Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income<br>in the interim consolidated statement of comprehensive income.
--- ---
(*3) Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs<br>which are used in fair value measurements based on market liquidity. The transfer was made on the beginning of the accounting period.
--- ---
(*4) Those are the transfers from Level 3 to Level 2, mainly due to the fact that the discount rate which<br>is used in fair value measurement of the private placement bonds was determined to be immaterial by quantitative sensitivity analysis. The transfer was made at the beginning of the accounting period.
--- ---

- 41 -

(3) Explanation of the process of fair value measurement

In MHFG, middle-offices and back-offices have established policies and procedures related to the measurement of fair values and procedures related to usage of the valuation model. For the fair values and the level categories, the validity of the valuation techniques and valuation inputs used in fair value measurement are verified.

In fair value measurement, valuation models in which the nature, characteristics and risks of individual assets are most appropriately reflected are used. In addition, when quoted prices obtained from third parties are used, the validity of the prices is verified by appropriate methods such as confirmation of valuation techniques and used valuation inputs and comparison with the fair values of similar financial instruments.

(4) Explanation of the impact on fair values in the case where significant unobservable inputs are varied<br>

Prepayment rate

The prepayment rate is the estimated rate at which voluntary unscheduled repayments of the principal of the underlying assets are expected to occur. The movement of the prepayment rate is generally negatively correlated with borrower delinquency. A significant change in the prepayment rate would generally significantly impact the valuation of the fair values of financial instruments either positively or negatively, depending on the structure of financial instruments.

Default rate

The default rate is an estimate of the likelihood of not collecting contractual payments. A significant increase (decrease) in the default rate would generally be accompanied by a decrease (increase) in the recovery rate and an increase (decrease) in the discount rate. It would also generally significantly impact the valuation of the fair values of financial instruments negatively (positively).

Recovery rate

The recovery rate is an estimate of the percentage of contractual payments that would be collected in the event of a default. A significant increase (decrease) in recovery rate would generally be accompanied by a decrease (increase) in the default rate. It would also generally significantly impact the valuation of the fair values of financial instruments positively (negatively).

Discount rate

The discount rate is an adjustment rate to a benchmark market interest rate such as TIBOR or swap rates. It primarily consists of a risk premium component which is the amount of compensation that market participants require due to the uncertainty inherent in the financial instruments’ cash flows resulting from credit risk. A significant increase (decrease) in discount rate would generally significantly impact the valuation of the fair values of financial instruments negatively (positively).

Correlation

Correlation is the likelihood of the movement of one input relative to another based on an established relationship. A significant change in correlation would significantly impact the valuation of derivatives either positively or negatively, depending on the nature of the underlying assets.

Volatility

Volatility is a measure of the expected change in variables over a fixed period of time. Some financial instruments benefit from an increase in volatility and others benefit from a decrease in volatility. Generally, a significant increase (decrease) in volatility would result in a significant increase (decrease) in option values and, for a long position in an option, it would result in a significant increase (decrease) in the fair values of financial instruments.

- 42 -

(Note 3) The following are the interim consolidated balance sheet amounts (the consolidated balance sheet amounts) of<br>Stocks and others without a quoted market price, and Investments in Partnerships and others. These amounts are not included in Money Held in Trust and Other Securities in the tables disclosed in the Matters relating to fair value of financial<br>instruments and breakdown of fair value by level.
(Millions of yen)
--- --- --- --- ---
Category As of March 31, 2025 As of September 30, 2025
Stocks and others without a quoted market price (*1) 729,826 712,415
Investments in Partnerships and others (*2) 659,237 711,640
(*1) Stocks and others without a quoted market price include unlisted stocks and others and in accordance with<br>Article 5 of “Implementation Guidance on Disclosures about Fair Value of Financial Instruments” (ASBJ Guidance No.19, March 31, 2020), these items are not subject to disclosure of the fair value.
--- ---
(*2) Investments in Partnerships and others are mainly silent partnership, investment partnership, and money held in<br>trust with the investment in a silent partnership as the component of the trust property. In accordance with Article 24-16 of “Implementation Guidance on Accounting Standard for Fair Value<br>Measurement” (ASBJ Guidance No.31, June 17, 2021), these items are not subject to disclosure of the fair value.
--- ---
( 3) During the fiscal year ended March 31, 2025, the amounts of impairment (devaluation) was<br>¥12,407 million on a consolidated basis. During the six months ended September 30, 2025, the amount of impairment (devaluation) was ¥5,170 million on a consolidated basis.
--- ---

- 43 -

Securities

In addition to “Securities” on the interim consolidated balance sheet (the consolidated balance sheet), Negotiable Certificates of Deposit in “Cash and Due from Banks,” certain items in “Monetary Claims Bought” and certain items in “Other Assets” are also included.

1. Bonds Held to Maturity

As of March 31, 2025

(Millions of yen)
Type Consolidated BalanceSheet Amount Fair Value Difference
Bonds Whose Fair Values Exceed the Consolidated Balance Sheet Amount Japanese Government Bonds — — —
Foreign Bonds 2,296,093 2,319,390 23,297
Sub-total 2,296,093 2,319,390 23,297
Bonds Whose Fair Values Do Not Exceed the Consolidated Balance Sheet Amount Japanese Government Bonds 419,479 399,879 (19,600)
Foreign Bonds 1,467,556 1,308,111 (159,445)
Sub-total 1,887,036 1,707,990 (179,045)
Total 4,183,129 4,027,381 (155,748)
As of September 30, 2025
(Millions of yen)
Type InterimConsolidatedBalance Sheet Amount Fair Value Difference
Bonds Whose Fair Values Exceed the Interim Consolidated Balance Sheet Amount Japanese Government Bonds — — —
Foreign Bonds 2,595,617 2,631,369 35,751
Sub-total 2,595,617 2,631,369 35,751
Bonds Whose Fair Values Do Not Exceed the Interim Consolidated Balance Sheet<br>Amount Japanese Government Bonds 419,523 399,222 (20,301)
Foreign Bonds 1,153,028 1,011,944 (141,084)
Sub-total 1,572,552 1,411,166 (161,386)
Total 4,168,170 4,042,535 (125,634)

- 44 -

2. Other Securities

As of March 31, 2025

(Millions of yen)
Type Consolidated Balance  Sheet Amount Acquisition Cost Difference
Other Securities Whose Consolidated Balance Sheet Amount Exceeds Acquisition<br>Cost Stocks 2,560,201 768,268 1,791,933
Bonds 1,314,303 1,307,054 7,249
Japanese Government Bonds 505,497 505,433 64
Japanese Local Government Bonds 211 206 4
Japanese Corporate Bonds 808,594 801,415 7,179
Other 5,609,855 5,557,141 52,713
Foreign Bonds 4,882,127 4,863,759 18,368
Monetary Claims Bought 236 235 1
Other 727,490 693,147 34,343
Sub-total 9,484,360 7,632,464 1,851,895
Other Securities Whose Consolidated Balance Sheet Amount Does Not Exceed<br>Acquisition Cost Stocks 42,666 49,147 (6,480 )
Bonds 9,936,528 10,023,432 (86,903 )
Japanese Government Bonds 7,864,942 7,883,671 (18,728 )
Japanese Local Government Bonds 547,527 570,904 (23,376 )
Japanese Corporate Bonds 1,524,058 1,568,857 (44,798 )
Other 8,851,886 9,365,998 (514,112 )
Foreign Bonds 7,234,412 7,637,703 (403,290 )
Monetary Claims Bought 23,128 24,025 (896 )
Other 1,594,344 1,704,269 (109,924 )
Sub-total 18,831,082 19,438,578 (607,496 )
Total 28,315,442 27,071,042 1,244,399
(Note) Unrealized Gains (Losses) includes ¥34,048 million which was recognized in the statement of income by<br>applying the fair-value hedge method and others.
--- ---

- 45 -

As of September 30, 2025

(Millions of yen)
Type Interim ConsolidatedBalance Sheet Amount Acquisition Cost Difference
Other Securities Whose Interim Consolidated Balance Sheet Amount Exceeds<br>Acquisition Cost Stocks 2,914,314 758,134 2,156,179
Bonds 2,282,816 2,275,414 7,401
Japanese Government Bonds 1,480,038 1,479,504 533
Japanese Local Government Bonds 179 177 2
Japanese Corporate Bonds 802,598 795,732 6,865
Other 6,562,862 6,471,978 90,884
Foreign Bonds 4,794,011 4,766,135 27,875
Monetary Claims Bought 192 192 0
Other 1,768,658 1,705,650 63,008
Sub-total 11,759,992 9,505,527 2,254,464
Other Securities Whose Interim Consolidated Balance Sheet Amount Does Not Exceed<br>Acquisition Cost Stocks 29,106 32,226 (3,120 )
Bonds 11,307,247 11,424,952 (117,705 )
Japanese Government Bonds 9,512,461 9,559,353 (46,891 )
Japanese Local Government Bonds 520,766 544,118 (23,352 )
Japanese Corporate Bonds 1,274,019 1,321,480 (47,461 )
Other 9,297,982 9,709,337 (411,354 )
Foreign Bonds 8,416,032 8,762,060 (346,028 )
Monetary Claims Bought 8,563 8,685 (122 )
Other 873,387 938,590 (65,203 )
Sub-total 20,634,336 21,166,516 (532,180 )
Total 32,394,328 30,672,044 1,722,284
(Note) Unrealized Gains (Losses) includes ¥33,587 million which was recognized in the statement of income by<br>applying the fair-value hedge method and others.
--- ---

- 46 -

3. Impairment (“Devaluation”) of Securities

Certain Securities other than Trading Securities (excluding Stocks and others without a quoted market price and Investments in Partnerships and others) are devalued to the fair value, and the difference between the acquisition cost and the fair value is treated as a loss for the six months ended September 30, 2025 (the fiscal year ended March 31, 2026). If the fair value has significantly deteriorated compared with the acquisition cost (including amortized cost), the difference is treated as impairment (devaluation) unless it is deemed that there is a possibility of a recovery in the fair value.

The amount of impairment (devaluation) for the fiscal year ended March 31, 2025 was ¥3,984 million.

The amount of impairment (devaluation) for the six months ended September 30, 2025 was ¥363 million.

The criteria for determining whether a security’s fair value has “significantly deteriorated” are outlined as follows:

• Securities whose fair value is 50% or less of the acquisition cost
• Securities whose fair value exceeds 50% but is 70% or less of the acquisition cost and the quoted market price<br>maintains a certain level or lower
--- ---

- 47 -

Money Held in Trust

1. Money Held in Trust Held to Maturity

There was no Money Held in Trust held to maturity.

2. Other in Money Held in Trust (other than for investment purposes and held to maturity purposes)<br>

As of March 31, 2025

(Millions of yen)
ConsolidatedBalance SheetAmount Acquisition Cost Difference Other in MoneyHeld in TrustWhoseConsolidatedBalance SheetAmount ExceedsAcquisition Cost Other in MoneyHeld in TrustWhoseConsolidatedBalanceSheetAmount Does NotExceedAcquisition Cost
Other in Money Held in Trust 34,778 34,778 — — —
(Note) “Other in Money Held in Trust Whose Consolidated Balance Sheet Amount Exceeds Acquisition Cost” and<br>“Other in Money Held in Trust Whose Consolidated Balance Sheet Amount Does Not Exceed Acquisition Cost” are components of “Difference.”
--- ---

As of September 30, 2025

(Millions of yen)
InterimConsolidatedBalance Sheet Amount Acquisition Cost Difference Other in MoneyHeld in TrustWhose InterimConsolidatedBalance SheetAmount ExceedsAcquisition Cost Other in MoneyHeld in TrustWhose InterimConsolidatedBalanceSheetAmount Does NotExceedAcquisition Cost
Other in Money Held in Trust 32,212 32,212 — — —
(Note) “Other in Money Held in Trust Whose Interim Consolidated Balance Sheet Amount Exceeds Acquisition<br>Cost” and “Other in Money Held in Trust Whose Interim Consolidated Balance Sheet Amount Does Not Exceed Acquisition Cost” are components of “Difference.”
--- ---

- 48 -

Unrealized Gains (Losses) on Other Securities

Details of Unrealized Gains (Losses) on Other Securities on the interim consolidated balance sheet (consolidated balance sheet) are as follows:

As of March 31, 2025

(Millions of yen)
Amount
Difference between Acquisition Cost and Fair Value 1,225,818
Other Securities 1,225,818
(–) Deferred Tax Liabilities 342,749
Difference between Acquisition Cost and Fair Value, net of Taxes (Before adjusting for amount<br>corresponding to Non-controlling Interests) 883,069
(–) Amount Corresponding to Non-controlling<br>Interests 17,902
(+) Amount Corresponding to Net Unrealized Gains (Losses) on Other Securities Owned by Affiliated<br>Companies, which is attributable to MHFG 2,531
Net Unrealized Gains (Losses) on Other Securities 867,697
(Notes) 1. The difference between acquisition cost and fair value excludes ¥34,048 million in gains which were recognized in the statement of income for the fiscal year ended March 31, 2025 by applying the fair-value hedge<br>method and others.
--- --- ---
2. “Other Securities” includes translation differences regarding Stocks and others without a quoted market price and Investments in Partnerships and others.

As of September 30, 2025

(Millions of yen)
Amount
Difference between Acquisition Cost and Fair Value 1,709,018
Other Securities 1,709,018
(–) Deferred Tax Liabilities 493,646
Difference between Acquisition Cost and Fair Value, net of Taxes (Before adjusting for amount<br>corresponding to Non-controlling Interests) 1,215,372
(–) Amount Corresponding to Non-controlling<br>Interests 17,821
(+) Amount Corresponding to Net Unrealized Gains (Losses) on Other Securities Owned by Affiliated<br>Companies, which is attributable to MHFG 2,926
Net Unrealized Gains (Losses) on Other Securities 1,200,477
(Notes) 1. The difference between acquisition cost and fair value excludes ¥33,587 million in gains which were recognized in the statement of income for six months ended September 30, 2025 by applying the fair-value hedge<br>method and others.
--- --- ---
2. “Other Securities” includes translation differences regarding Stocks and others without a quoted market price and Investments in Partnerships and others.

- 49 -

Derivatives Information

Derivative Transactions not Qualifying for Hedge Accounting

With regard to derivative transactions not qualifying for hedge accounting, contract value or contractual principal equivalents, fair values and unrealized gains (losses) by type of transaction as of the interim consolidated balance sheet date (consolidated balance sheet date) are as follows. Contract value amounts do not indicate the market risk related to derivative transactions.

(1) Interest Rate and Bond-Related Transactions

As of March 31, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Interest Rate Futures
Sold 9,165,882 3,966,336 (3,091 ) (3,091 )
Bought 7,686,048 2,074,518 (677 ) (677 )
Interest Rate Options
Sold 3,955,769 35,980 (5,509 ) 1,835
Bought 3,400,437 — 4,226 (1,456 )
Bond Futures
Sold 683,901 — (1,898 ) (1,898 )
Bought 575,165 — 2,071 2,071
Bond Futures Options
Sold 16,752 — (38 ) 11
Bought 18,347 — 53 (8 )
Over-the-Counter FRAs
Sold 55,915,730 1,679,562 (60,521 ) (60,521 )
Bought 51,351,854 803,798 52,484 52,484
Interest Rate Swaps
Receive Fixed / Pay Float 1,090,113,675 724,769,481 (9,354,690 ) (9,354,690 )
Receive Float / Pay Fixed 1,102,084,667 736,071,138 9,465,316 9,465,316
Receive Float / Pay Float 235,439,498 107,220,077 95,768 95,768
Receive Fixed / Pay Fixed 583,979 489,379 10,887 10,887
Interest Rate Options
Sold 48,473,250 22,810,228 (92,734 ) (92,734 )
Bought 48,423,963 22,968,664 151,982 151,982
Bond Options
Sold 595,312 — (980 ) 321
Bought 595,312 — 1,675 435
Bond Other
Sold 63,694 5,592 250 250
Bought 2,398 — 4 4
Inter-Company or Internal<br>Transactions Interest Rate Swaps
Receive Fixed / Pay Float 8,662,193 8,045,587 1,923 1,923
Receive Float / Pay Fixed 15,823,312 10,785,656 174,102 174,102
Total — — 440,604 442,316
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
--- ---

- 50 -

As of September 30, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Interest Rate Futures
Sold 13,146,738 4,299,012 (7,403 ) (7,403 )
Bought 11,462,214 2,707,439 4,984 4,984
Interest Rate Options
Sold 6,321,646 35,826 (6,723 ) 2,008
Bought 5,895,923 35,733 6,567 (2,495 )
Bond Futures
Sold 1,430,596 — (1,540 ) (1,540 )
Bought 721,713 — (132 ) (132 )
Bond Futures Options
Sold 2,546 — (0 ) (0 )
Bought 167,033 — 71 70
Over-the-Counter FRAs
Sold 56,454,198 1,523,046 22,715 22,715
Bought 52,781,579 1,257,115 (29,187 ) (29,187 )
Interest Rate Swaps
Receive Fixed / Pay Float 1,135,951,238 761,257,964 (9,551,141 ) (9,551,141 )
Receive Float / Pay Fixed 1,126,557,496 756,530,381 9,750,062 9,750,062
Receive Float / Pay Float 280,622,239 86,945,669 105,475 105,475
Receive Fixed / Pay Fixed 538,437 474,745 7,411 7,411
Interest Rate Options
Sold 50,931,482 22,116,075 (55,982 ) (55,982 )
Bought 48,532,381 20,860,228 120,843 120,843
Bond Options
Sold 617,806 — (1,726 ) 271
Bought 622,534 — 1,745 (271 )
Bond Other
Sold 93,829 101 4,878 4,878
Bought 8,513 — 23 23
Inter-Company or Internal<br>Transactions Interest Rate Swaps
Receive Fixed / Pay Float 8,438,704 7,080,915 9,364 9,364
Receive Float / Pay Fixed 17,296,430 9,725,063 119,628 119,628
Total — — 499,933 499,581
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the interim consolidated statement of income.
--- ---

- 51 -

(2) Currency-Related Transactions

As of March 31, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Futures
Sold 103,347 16,459 — —
Bought 388,377 90,130 — —
Over-the-Counter Swaps 132,862,750 98,913,939 (43,000 ) 108,421
Forwards
Sold 111,143,064 6,501,605 (494,150 ) (494,150 )
Bought 52,954,772 3,253,072 311,294 311,294
Options
Sold 7,145,222 3,762,348 (219,028 ) (135,568 )
Bought 6,718,360 3,359,188 83,223 (3,524 )
Inter-Company or Internal Transactions Swaps 3,321,709 1,573,297 397,896 18,960
Forwards
Bought 52,386 — 338 338
Total — — 36,572 (194,227 )
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
--- ---

As of September 30, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Futures
Sold 61,825 3,112 — —
Bought 306,396 93,602 — —
Over-the-Counter Swaps 152,616,623 112,003,905 459,160 423,722
Forwards
Sold 118,985,972 7,272,933 (627,587 ) (627,587 )
Bought 57,246,629 3,446,322 454,380 454,380
Options
Sold 7,369,202 3,861,906 (213,611 ) (131,291 )
Bought 6,984,850 3,628,753 64,252 (22,973 )
Inter-Company or Internal Transactions Swaps 3,821,073 2,503,789 297,876 15,384
Forwards
Bought 53,678 — 344 344
Total — — 434,815 111,980
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the interim consolidated statement of income.
--- ---

- 52 -

(3) Stock-Related Transactions

As of March 31, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Index Futures
Sold 1,519,827 2,611 36,472 36,472
Bought 150,225 26,383 (9,547 ) (9,547 )
Index Futures Options
Sold 2,016,689 343,886 (148,458 ) (85,713 )
Bought 1,799,508 289,874 92,332 36,491
Over-the-Counter Equity Linked Swaps 1,164,932 350,778 337 337
Options
Sold 3,778,925 1,448,239 (326,981 ) (326,981 )
Bought 3,513,302 1,624,731 251,306 251,306
Other
Sold 45,119 42,179 1,583 1,583
Bought 449,375 213,601 81,934 81,934
Total — — (21,019 ) (14,116 )
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
--- ---

As of September 30, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Index Futures
Sold 1,879,547 6,214 (16,753 ) (16,753 )
Bought 600,017 11,879 4,088 4,088
Index Futures Options
Sold 2,671,509 371,082 (222,428 ) (163,525 )
Bought 2,326,657 289,830 137,736 89,964
Over-the-Counter Equity Linked Swaps 1,530,241 471,414 (19,378 ) (19,378 )
Options
Sold 3,666,519 1,614,375 (1,023,458 ) (1,023,458 )
Bought 3,684,614 1,925,285 793,352 793,352
Other
Sold 42,656 39,299 519 519
Bought 767,135 284,358 15,709 15,709
Total — — (330,610 ) (319,479 )
(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the interim consolidated statement of income.
--- ---

- 53 -

(4) Commodity-Related Transactions

As of March 31, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Futures
Sold 131,859 29,683 3,852 3,852
Bought 215,262 71,987 (6,943 ) (6,943 )
Options
Sold 157 — (11 ) 1
Bought 235 — 10 (0 )
Over-the-Counter Swaps 36,064 — (2,334 ) (2,334 )
Options
Sold 266,498 89,724 8,122 8,122
Bought 164,954 41,521 (2,422 ) (2,422 )
Total — — 274 275
(Notes) 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
--- --- ---
2. Commodities include oil, copper, aluminum and others.

As of September 30, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains<br>(Losses)
Total Over One Year
Listed Futures
Sold 169,653 42,667 11,210 11,210
Bought 239,255 79,258 (16,797 ) (16,797 )
Options
Sold 268 — (10 ) 5
Bought 223 — 10 (7 )
Over-the-Counter Swaps 38,119 — (3,877 ) (3,877 )
Options
Sold 244,214 73,406 5,068 5,068
Bought 133,315 37,060 (822 ) (822 )
Total — — (5,217 ) (5,219 )
(Notes) 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the interim consolidated statement of income.
--- --- ---
2. Commodities include oil, copper, aluminum and others.

- 54 -

(5) Credit Derivative Transactions

As of March 31, 2025

(Millions of yen)
Classification Type Contract Value Fair Value Unrealized Gains(Losses)
Total Over One Year
Over-the-Counter Credit Derivatives
Sold 15,749,754 14,576,342 164,309 164,309
Bought 18,327,988 16,171,809 (126,107 ) (126,107 )
Total — — 38,201 38,201
(Notes) 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
--- --- ---
2. “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.

As of September 30, 2025

(Millions of yen)
Classification Type Contract Value FairValue UnrealizedGains<br>(Losses)
Total Over OneYear
Over-the-Counter Credit Derivatives
Sold 14,112,622 12,876,783 133,962 133,962
Bought 16,559,416 14,346,363 (89,276 ) (89,276 )
Total — — 44,686 44,686
(Notes) 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the interim consolidated statement of income.
--- --- ---
2. “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.

- 55 -

Revenue recognition

1. Revenue breakdown information
(Millions of yen)
--- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Ordinary Income 4,585,215 4,337,537
Fee and Commission Income 512,874 584,789
Deposits and Lending business (1) 161,834 192,869
Securities-related business 122,086 146,688
Remittance business 50,010 51,788
Trust-related business 35,503 36,182
Guarantee-related business (2) 21,913 23,822
Agency business 19,940 20,062
Fees for other customer services 101,585 113,374
Trust Fees 30,291 31,570
Other Ordinary Income (1) 4,042,050 3,721,176

Notes:

(1) Part of these amounts are considered to be revenues from contracts that are within the scope of<br>“Accounting Standard for Revenue Recognition.”
(2) These amounts are revenues from contracts that do not meet the scope of “Accounting Standard for Revenue<br>Recognition.”
--- ---
(3) In the above table, revenues that are within the scope of “Accounting Standard for Revenue<br>Recognition” are mainly generated from “Retail & Business Banking Company,” “Corporate & Investment Banking Company” and “Global Corporate & Investment Banking Company.”<br>
--- ---
2. Contract assets, contract liabilities and receivables from contracts with customers
--- ---

The balances of contract assets, contract liabilities and receivables from contracts with customers are included in other assets and other liabilities in the interim consolidated balance sheet. The balance of contract assets, contract liabilities and receivables from contracts with customers at the current and previous interim consolidated balance sheet date are immaterial.

3. Price allocated to remaining performance obligations

The amount of revenue expected to be recognized in subsequent fiscal years is not material in terms of amount for the six months ended September 30, 2025 and September 30, 2024. Contracts with a term of up to one year and contracts for which revenue can be recognized at the amount our group has the right to claim are not included as a subject in this note.

- 56 -

Business Segments Information, etc.

Business Segments Information

1. Summary of reportable segments

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 segments 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.

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

The following information of reportable segments are 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,Trust Fees, 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 allowance for loan losses) + 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.

- 57 -

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

For the six months ended September 30, 2024

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others<br>(Note 2)
Gross Profits: (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses)<br>related to ETFs and others 379,877 301,244 393,626 403,929 29,645 53,271 1,561,592
General and Administrative Expenses (excluding<br>Non-Recurring Losses and others) 343,682 116,731 222,106 169,840 18,339 15,088 885,786
Equity in Income from Investments in Affiliates 4,291 5,860 13,701 — 230 3,689 27,771
Amortization of Goodwill and others 3 412 3,281 — 3,058 196 6,950
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others 40,483 189,961 181,940 234,089 8,478 41,675 696,626
Fixed Assets 549,242 150,543 188,312 87,802 — 873,198 1,849,097
(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<br>ETFs and others amounted to ¥40,893 million, of which ¥37,242 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,<br>and others. Among Fixed Assets that have not been allocated to each segment, some related expenses are allocated to each segment using reasonable criteria of allocation.
4. Following the change in allocation method for transactions between each segment and “Others” made in April 2025, reclassification was made on the above table to reflect the relevant change.

- 58 -

For the six months ended September 30, 2025

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others<br>(Note 2)
Gross Profits: (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses)<br>related to ETFs and others 445,379 337,505 422,269 391,704 36,714 39,613 1,673,184
General and Administrative Expenses (excluding<br>Non-Recurring Losses and others) 360,841 120,341 243,999 188,657 23,850 26,209 963,897
Equity in Income from Investments in Affiliates 2,969 7,549 14,072 — 193 1,897 26,680
Amortization of Goodwill and others 3 412 2,511 — 2,863 265 6,054
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others 87,504 224,301 189,831 203,047 10,194 15,036 729,913
Fixed Assets 632,677 173,427 227,917 101,571 — 846,201 1,981,793
(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<br>ETFs and others amounted to ¥44,114 million, of which ¥40,127 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,<br>and others. Among Fixed Assets that have not been allocated to each segment, some related expenses are allocated to each segment using reasonable criteria of allocation.

- 59 -

4. The difference between the total amounts of reportable segments and the recorded amounts in the Interim<br>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 allowance for loan losses) + Net Gains (Losses) related to ETFs and others derived from internal management reporting by reportable segment are different from the amounts recorded in the Interim 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)<br>related to ETFs and others of Segment Information and Ordinary Profits
(Millions of yen)
--- --- --- --- --- --- ---
For the six months ended<br>September 30, 2024 For the six months ended<br>September 30, 2025
Gross Profits: (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses)<br>related to ETFs and others 1,561,592 1,673,184
Net Gains (Losses) related to ETFs and others (40,893 ) (44,114 )
Other Ordinary Income 208,950 248,595
General and Administrative Expenses (877,168 ) (966,147 )
Other Ordinary Expenses (105,401 ) (61,891 )
Ordinary Profits 747,079 849,626
(2) The total of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others of Segment Information and Profit before Income Taxes recorded in the Interim Consolidated Statement of Income
--- ---
(Millions of yen)
--- --- --- --- --- --- ---
For the six months endedSeptember 30, 2024 For the six months endedSeptember 30, 2025
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others 696,626 729,913
General and Administrative Expenses (Non-Recurring<br>Losses) 15,568 3,803
Expenses related to Portfolio Problems (including reversal of (provision for) general allowance<br>for loan losses) (10,966 ) (16,954 )
Gains on Reversal of Allowances for Loan Losses, and others 25,653 49,348
Net Gains (Losses) related to Stocks - Net Gains (Losses) related to ETFs and others 39,062 86,334
Net Extraordinary Gains (Losses) 44,079 49,089
Others (18,865 ) (2,819 )
Profit before Income Taxes recorded in the Interim Consolidated Statement of Income 791,158 898,716

- 60 -

Related Information

For the six months ended September 30, 2024

1. Information about Geographic Areas
(1) Ordinary Income
--- ---
(Millions of yen)
--- --- --- --- --- --- --- --- --- ---
Japan Americas Europe Asia/Oceania<br>excluding Japan Total
1,926,063 1,706,658 437,401 515,092 4,585,215
(Notes) 1. The above table shows Ordinary Income in lieu of sales of non-financial companies.
--- --- ---
2. Ordinary income is segmented by country and region based on the location of our group office in consideration of geographical proximity, similarity of economic activities, and interrelationship of business activities.
3. In Americas, the U.S. accounted for ¥1,572,479 million for the six months ended September 30, 2024.
(2) Tangible Fixed Assets
--- ---
(Millions of yen)
--- --- --- --- --- --- --- --- --- ---
Japan Americas Europe Asia/Oceania<br>excluding Japan Total
971,269 85,597 9,651 26,923 1,093,441
2. Information about Major Customers
--- ---

Information about major customers is not disclosed since there are no outside customers that accounted for more than 10% of Ordinary Income of the Company.

For the six months ended September 30, 2025

1. Information about Geographic Areas
(1) Ordinary Income
--- ---
(Millions of yen)
--- --- --- --- --- --- --- --- --- ---
Japan Americas Europe Asia/Oceania<br>excluding Japan Total
1,961,257 1,533,893 353,300 489,086 4,337,537
(Notes) 1. The above table shows Ordinary Income in lieu of sales of non-financial companies.
--- --- ---
2. Ordinary income is segmented by country and region based on the location of our group office in consideration of geographical proximity, similarity of economic activities, and interrelationship of business activities.
3. In Americas, the U.S. accounted for ¥ 1,431,828 million for the six months ended September 30, 2025.
(2) Tangible Fixed Assets
--- ---
(Millions of yen)
--- --- --- --- --- --- --- --- --- ---
Japan Americas Europe Asia/Oceania<br>excluding Japan Total
991,500 92,515 9,772 26,054 1,119,842
2. Information about Major Customers
--- ---

Information about major customers is not disclosed since there are no outside customers that accounted for more than 10% of Ordinary Income of the Company.

- 61 -

Information about Impairment Loss on Tangible Fixed Assets by Reportable Segment

For the six months ended September 30, 2024

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others
Impairment Loss 527 50 48 11 — 928 1,564
(Note) Following the change in allocation method for transactions between each segment and “Others” made<br>in April 2025, reclassification was made on the above table to reflect the relevant change.
--- ---

For the six months ended September 30, 2025

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others
Impairment Loss — — — — — 992 992

Information about Amortization and Unamortized Balance of Goodwill by Reportable Segment

For the six months ended September 30, 2024

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others
Amortization of Goodwill 3 412 1,787 — 1,334 62 3,598
Unamortized Balance of Goodwill 53 9,265 67,670 — 32,014 (0 ) 109,001
(Note) Following the change in allocation method for transactions between each segment and “Others” made<br>in April 2025, reclassification was made on the above table to reflect the relevant change.
--- ---

For the six months ended September 30, 2025

(Millions of yen)
MHFG (Consolidated)
RBC CIBC GCIBC GMC AMC Others
Amortization of Goodwill 3 412 1,787 — 1,334 119 3,655
Unamortized Balance of Goodwill 35,888 8,441 66,339 — 29,347 (0 ) 140,014

Information about Gain on Negative Goodwill Incurred by Reportable Segment

For the six months ended September 30, 2024

There is no applicable information.

For the six months ended September 30, 2025

There is no applicable information.

- 62 -

Per Share Information

1. Net Assets per Share of Common Stock and its basis used for calculation
As of March 31, 2025 As of September 30, 2025
--- --- --- --- --- ---
Net Assets per Share of Common Stock Yen 4,161.03 4,423.89
(The basis used for calculating Net Assets per Share of Common Stock)
Total Net Assets Millions of yen 10,523,753 11,076,007
Deductions from Total Net Assets Millions of yen 81,541 80,367
Stock Acquisition Rights Millions of yen 5 5
Non-Controlling Interests Millions of yen 81,536 80,362
Net Assets related to Common Stock at the end of the period/the fiscal year Millions of yen 10,442,211 10,995,640
Outstanding Shares of Common Stock, based on which Total Net Assets per Share of Common Stock was<br>calculated, at the end of the period/the fiscal year Thousands of shares 2,509,524 2,485,508

- 63 -

2. Earnings per Share of Common Stock and Diluted Earnings per Share of Common Stock are based on the following<br>information:
For the six months endedSeptember 30, 2024 For the six months endedSeptember 30, 2025
--- --- --- --- --- ---
(1)   Earnings per Share of Common Stock Yen 223.35 276.20
(The basis used for calculating Earnings per Share of Common Stock)
Profit Attributable to Owners of Parent Millions of yen 566,141 689,947
Amount not attributable to Common Stock Millions of yen — —
Profit Attributable to Owners of Parent related to Common Stock Millions of yen 566,141 689,947
Average Outstanding Shares of Common Stock (during the period) Thousands of shares 2,534,759 2,497,975
(2)   Diluted Earnings per Share of Common Stock Yen 223.35 276.20
(The basis used for calculating Diluted Earnings per Share of Common Stock)
Adjustment to Profit Attributable to Owners of Parent Millions of yen — —
Increased Number of Shares of Common Stock Thousands of shares 2 2
Stock Acquisition Rights Thousands of shares 2 2
Description of dilutive securities which were not included in the calculation of Diluted Earnings<br>per Share of Common Stock as they have no dilutive effects — —
(Note) In the calculation of Net Assets per share, MHFG shares outstanding in BBT trust account that were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted from the total number of<br>issued shares at the end of the period/the fiscal year. The number of such Treasury Stock shares deducted at the end of the previous fiscal year (March 31, 2025) was 2,376 thousand, and the number of such Treasury Stock shares deducted at the<br>end of the period (September 30, 2025) was 2,171 thousand.
--- ---
In the calculation of Earnings per Share of Common Stock and Diluted Earnings per Share of Common Stock, such Treasury Stock shares are included in Treasury Stock shares deducted in the calculation of the Average Outstanding<br>Shares of Common Stock during the period. The average number of such Treasury Stock shares deducted during the six months ended September 30, 2024 was 2,618 thousand, and the average number of such Treasury Stock shares deducted during the<br>six months ended September 30, 2025 was 2,253 thousand.

- 64 -

II. Others

There is no applicable information.

- 65 -

Subsequent Events

Repurchase and cancellation of Own Shares

MHFG resolved at the meeting of its Board of Directors held on November 14, 2025 to repurchase its common stock pursuant to the provisions of Article 156, Paragraph 1 of the Companies Act and in accordance with the provisions of Article 459, Paragraph 1 of the Companies Act and Article 47 of its Articles of Incorporation, and cancel the repurchased common stock pursuant to Article 178 of the Companies Act.

(1) Reason for the Repurchase and cancellation of Common Stock

MHFG maintains a capital policy pursuing the optimal balance between capital adequacy, growth investment and enhancement of shareholder returns. Based on this initiative, MHFG set forth its shareholder return policy keeping progressive increase of dividends per share, while executing flexible and intermittent share buybacks. In accordance with this policy, we decided share buybacks, based on our business results, capital adequacy, our stock price and the opportunities for growth investment, using the total payout ratio of 50% or more as a guide.

(2) Outline of Repurchase
i. Stock to be repurchased: MHFG common stock
--- --- ---
ii. Aggregate shares to be repurchased: Up to a maximum of 60,000,000shares
(2.4% of the number of issued shares excluding treasury stock as of September 30, 2025)
iii. Aggregate amount of repurchase price: Up to a maximum of ¥200,000,000,000
iv. Repurchase period: From November 17, 2025 to February 28, 2026
v. Repurchase method: Market purchase utilizing trust method
(3) Outline of Cancellation
--- ---
i. Type of stock to be cancelled: MHFG common stock
--- --- ---
ii. Number of shares to be cancelled: All of the common stock repurchased as stated in item 2 above
iii. Scheduled cancellation date: March 23, 2026

- 66 -

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