Equibles

6-K

MIZUHO FINANCIAL GROUP INC (MFG)

6-K 2022-07-29 For: 2022-07-29
View Original
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 July 2022

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

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

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

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

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

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NO. 333-233354) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Date: July 29, 2022
Mizuho Financial Group, Inc.
By: /s/ Makoto Umemiya
Name: Makoto Umemiya
Title: Deputy President & Senior Executive Officer / Group CFO

For Immediate Release:

Consolidated Financial Statements for the First Quarter of Fiscal 2022<br><br><br>(Under Japanese GAAP)
Company Name: Mizuho Financial Group, Inc. (“MHFG”) July 29, 2022
--- --- ---
Stock Code Number (Japan): 8411
--- --- --- --- ---
Stock Exchange Listings: Tokyo Stock Exchange (Prime Market), New York Stock Exchange
URL: https://www.mizuhogroup.com
Representative: Masahiro Kihara President & Group CEO
For Inquiry: Yasutoshi Tanaka General Manager of Accounting Phone: +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled): August 12, 2022 Trading Accounts: Established
Commencement of Dividend Payment (scheduled): —
Supplementary Materials on Quarterly Results: Attached
IR Conference on Quarterly Results: Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2022 (for the three months ended June 30, 2022)

(1) Consolidated Results of Operations

(%: Changes from the corresponding period of the previous fiscal year)
Ordinary Income Ordinary Profits ProfitAttributable toOwners of Parent
million % million % million %
1Q F2022 67.5 (6.6 ) (36.4 )
1Q F2021 (11.8 ) 24.7 104.7

All values are in Japanese Yen.

Note: Comprehensive Income:<br><br><br>1Q F2022: ¥(66,832) million, (132.6)%; 1Q F2021: ¥204,730 million, 6.2%
Net Incomeper Share ofCommon Stock Diluted Net Incomeper Share ofCommon Stock
--- --- ---
1Q F2022
1Q F2021

All values are in Japanese Yen.

(2) Consolidated Financial Conditions

Total Assets Total Net Assets Own Capital Ratio
million million %
1Q F2022 3.5
Fiscal 2021 3.8

All values are in Japanese Yen.

Reference: Own Capital:<br> <br>As of June 30, 2022:<br>¥ 8,908,035 million; As of March 31, 2022: ¥ 9,077,382 million
Note: Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights -<br>Non-controlling Interests) / Total Assets × 100<br> <br>Own Capital Ratio stated above is not calculated based on the<br>public notice of Own Capital Ratio.
--- ---

2. Cash Dividends for Shareholders of Common Stock

Annual Cash Dividends per Share
Firstquarter-end Secondquarter-end Thirdquarter-end Fiscalyear-end Total
Fiscal 2021
Fiscal 2022
Fiscal 2022 (estimate)

All values are in Japanese Yen.

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

3. Consolidated Earnings Estimates for Fiscal2022 (for the fiscal year ending March 31, 2023)

(%: Changes from the corresponding period of the previous fiscal year)
ProfitAttributable toOwners ofParent Net Incomeper Share ofCommon Stock
million %
Fiscal 2022 H1 —
Fiscal 2022 1.7

All values are in Japanese Yen.

Notes: 1. Revision of the latest announced earnings estimates for fiscal 2022: No
2. The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares during 1Q and the number of outstanding shares as of June 30, 2022<br>(which is used as a proxy for the average number of outstanding shares during 2Q-4Q).

Notes

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

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

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

i Changes in accounting policies due to revisions of accounting standards: Yes
ii Changes in accounting policies other than i above: No
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iii Changes in accounting estimates: No
--- ---
iv Restatements: No
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Note: For more information, please refer to “1.(1) Changes in Accounting Policies and Accounting Estimates / Restatements” on page 1-2 of the attachment.

(4) Issued Shares of Common Stock

i   Period-end issued shares (including<br>treasury stock): As of June 30, 2022 2,539,249,894 shares As of March 31, 2022 2,539,249,894 shares
ii  Period-end treasury stock: As of June 30, 2022 5,654,995 shares As of March 31, 2022 4,659,024 shares
iii  Average outstanding shares (first quarter): 1Q Fiscal 2022 2,534,214,481 shares 1Q Fiscal 2021 2,535,338,709 shares

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

This immediate release contains statements that constituteforward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management offuture performance.<br> <br>In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,”“endeavor,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “project,” “risk,” “seek,” “should,” “strive,”“target” and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect ourcurrent views with respect to future events and are subject to risks, uncertainties and assumptions.<br> <br>We may not be successful in implementing ourbusiness strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: impact of the corona virus pandemic; incurrence of significant credit-related costs; declines in the value ofour securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; impairmentof the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactions entered into for hedging and other similar purposes; failure tomaintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our 5-YearBusiness Plan, and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; andchanges to applicable laws and regulations.<br> <br>Further information regarding factors that could affect our financial condition and results ofoperations is included in “Item 3.D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities andExchange Commission (“SEC”), which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.<br><br><br>We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-lookingstatements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

Mizuho Financial Group, Inc.

m Contents of Attachment

1. Matters Related to Summary Information (Notes) p. 1-2
(1) Changes in Accounting Policies and Accounting Estimates / Restatements p. 1-2
2. Quarterly Consolidated Financial Statements and Others p. 1-3
(1) Consolidated Balance Sheets p. 1-3
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income p. 1-5
(3) Note for Assumption of Going Concern p. 1-7
(4) Note for Significant Changes in the Amount of Shareholders’ Equity p. 1-7
ø SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 2022

Note to XBRL

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

1-1

Mizuho Financial Group, Inc.

1. Matters Related to Summary Information (Notes)

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

(Changes in Accounting Policies)

(Implementation Guidance on Accounting Standard for Fair Value Measurement)

MHFG has applied “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No.31, June 17, 2021 (referred to as “Fair Value Accounting Standard Implementation Guidance”)) from the beginning of the first quarter ended June 30, 2022. In accordance with the transitional treatment set out in Article 27-2 of “Fair Value Accounting Standard Implementation Guidance”, MHFG applies the new accounting policy set forth in “Fair Value Accounting Standard Implementation Guidance” prospectively. As a result, some Investment trusts and others are calculated using net asset value, etc., as of the calculation date of the fair value.

1-2

Mizuho Financial Group, Inc.

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

Millions of yen
As of<br>March 31,<br>2022 As of<br>June 30,<br>2022
Assets
Cash and Due from Banks ¥ 51,359,301 ¥ 53,943,945
Call Loans and Bills Purchased 940,008 1,001,480
Receivables under Resale Agreements 12,750,363 12,749,686
Guarantee Deposits Paid under Securities Borrowing Transactions 2,340,089 2,095,473
Other Debt Purchased 3,476,021 3,455,681
Trading Assets 13,221,415 16,874,136
Money Held in Trust 591,183 580,751
Securities 44,641,060 43,386,299
Loans and Bills Discounted 84,736,280 88,851,747
Foreign Exchange Assets 2,627,492 3,461,306
Derivatives other than for Trading Assets 2,277,160 3,553,686
Other Assets 7,797,796 8,838,016
Tangible Fixed Assets 1,095,977 1,097,290
Intangible Fixed Assets 601,292 601,425
Net Defined Benefit Asset 863,217 861,773
Deferred Tax Assets 184,594 353,533
Customers’ Liabilities for Acceptances and Guarantees 8,346,878 9,417,890
Reserves for Possible Losses on Loans (783,886 ) (503,058 )
Reserve for Possible Losses on Investments (107 ) (107 )
Total Assets ¥ 237,066,142 ¥ 250,620,959

1-3

Mizuho Financial Group, Inc.

Millions of yen
As of<br>March 31,<br>2022 As of<br>June 30,<br>2022
Liabilities
Deposits ¥ 138,830,872 ¥ 137,290,100
Negotiable Certificates of Deposit 16,868,931 21,315,830
Call Money and Bills Sold 1,278,050 1,609,126
Payables under Repurchase Agreements 20,068,779 24,124,124
Guarantee Deposits Received under Securities Lending Transactions 1,172,248 1,153,134
Commercial Paper 1,775,859 1,448,280
Trading Liabilities 9,608,976 13,096,908
Borrowed Money 6,590,527 6,301,917
Foreign Exchange Liabilities 1,508,453 644,324
Short-term Bonds 537,167 521,031
Bonds and Notes 10,714,004 11,523,527
Due to Trust Accounts 1,167,284 1,120,207
Derivatives other than for Trading Liabilities 2,770,852 4,502,928
Other Liabilities 6,301,484 7,345,165
Reserve for Bonus Payments 120,052 30,766
Reserve for Variable Compensation 2,278 2,534
Net Defined Benefit Liability 71,774 70,836
Reserve for Director and Corporate Auditor Retirement Benefits 557 426
Reserve for Possible Losses on Sales of Loans 1,309 2,967
Reserve for Contingencies 6,622 7,890
Reserve for Reimbursement of Deposits 17,620 16,577
Reserve for Reimbursement of Debentures 10,504 9,771
Reserves under Special Laws 3,132 3,131
Deferred Tax Liabilities 30,923 22,203
Deferred Tax Liabilities for Revaluation Reserve for Land 59,962 59,874
Acceptances and Guarantees 8,346,878 9,417,890
Total Liabilities ¥ 227,865,110 ¥ 241,641,478
Net Assets
Common Stock ¥ 2,256,767 ¥ 2,256,767
Capital Surplus 1,125,324 1,129,388
Retained Earnings 4,756,435 4,814,355
Treasury Stock (8,342 ) (9,906 )
Total Shareholders’ Equity 8,130,185 8,190,605
Net Unrealized Gains (Losses) on Other Securities 719,822 403,818
Deferred Gains or Losses on Hedges (76,757 ) (104,189 )
Revaluation Reserve for Land 132,156 131,957
Foreign Currency Translation Adjustments 2,346 127,222
Remeasurements of Defined Benefit Plans 169,652 158,660
Own Credit Risk Adjustments, Net of Tax (23 ) (39 )
Total Accumulated Other Comprehensive Income 947,197 717,429
Stock Acquisition Rights 94 69
Non-controlling Interests 123,555 71,375
Total Net Assets 9,201,031 8,979,480
Total Liabilities and Net Assets ¥ 237,066,142 ¥ 250,620,959

1-4

Mizuho Financial Group, Inc.

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

Consolidated Statements of Income

Millions of yen
For the three<br>months ended<br>June 30, 2021 For the three<br>months ended<br>June 30, 2022
Ordinary Income ¥ 737,009 ¥ 1,235,090
Interest Income 293,342 444,862
Interest on Loans and Bills Discounted 210,675 275,979
Interest and Dividends on Securities 46,524 80,623
Fiduciary Income 14,997 14,299
Fee and Commission Income 196,859 200,034
Trading Income 103,004 355,522
Other Operating Income 55,348 180,144
Other Ordinary Income 73,458 40,227
Ordinary Expenses 518,251 1,030,852
Interest Expenses 70,470 191,616
Interest on Deposits 14,464 56,662
Fee and Commission Expenses 39,405 40,854
Trading Expenses 128 348,543
Other Operating Expenses 26,394 21,909
General and Administrative Expenses 335,331 350,591
Other Ordinary Expenses 46,521 77,337
Ordinary Profits 218,757 204,237
Extraordinary Gains 28,954 3,580
Extraordinary Losses 1,530 463
Income before Income Taxes 246,181 207,355
Income Taxes:
Current 32,687 64,411
Deferred (39,393 ) (18,875 )
Total Income Taxes (6,705 ) 45,535
Profit 252,887 161,819
Profit Attributable to Non-controllingInterests 2,345 2,525
Profit Attributable to Owners of Parent ¥ 250,541 ¥ 159,294

1-5

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income

Millions of yen
For the threemonths ended<br>June 30, 2021 For the threemonths ended<br>June 30, 2022
Profit ¥ 252,887 ¥ 161,819
Other Comprehensive Income (48,156 ) (228,652 )
Net Unrealized Gains (Losses) on Other Securities (53,348 ) (317,031 )
Deferred Gains or Losses on Hedges (8,635 ) (27,323 )
Foreign Currency Translation Adjustments 38,509 115,854
Remeasurements of Defined Benefit Plans (32,036 ) (10,934 )
Own Credit Risk Adjustments, Net of Tax — (16 )
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method 7,353 10,800
Comprehensive Income 204,730 (66,832 )
(Breakdown)
Comprehensive Income Attributable to Owners of Parent 200,559 (70,274 )
Comprehensive Income Attributable to Non-controlling<br>Interests 4,170 3,442

1-6

Mizuho Financial Group, Inc.

(3) Note for Assumption of Going Concern

There is no applicable information.

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

There is no applicable information.

1-7

SELECTED FINANCIAL INFORMATION

For the First Quarter of Fiscal 2022

(Under Japanese GAAP)

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

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

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

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2022 See above Notes Page
1. Income Analysis CON NON 2- 1
2. Net Gains/Losses on Stocks CON NON 2- 3
3. Unrealized Gains/Losses on Securities CON NON 2- 4
4. Deferred Hedge Gains/Losses on Derivative Transactions Qualifying for Hedge Accounting NON 2- 7
5. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial<br>Reconstruction Act (“FRA”) CON NON 2- 8
6. Status of Deposits and Loans NON 2- 12
Attachments Page
--- --- ---
Mizuho Bank, Ltd.
Comparison of Non-Consolidated Balance Sheets (selected<br>items) 2- 14
Comparison of Non-Consolidated Statements of Income<br>(selected items) 2- 15
Mizuho Trust & Banking Co., Ltd.
Comparison of Non-Consolidated Balance Sheets (selected<br>items) 2- 16
Comparison of Non-Consolidated Statements of Income<br>(selected items) 2- 17
Mizuho Securities Co., Ltd.
Comparison of Non-Consolidated Balance Sheets (selected<br>items) 2- 18
Comparison of Non-Consolidated Statements of Income<br>(selected items) 2- 19

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

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

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

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

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

Mizuho Financial Group, Inc.

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2022

1. Income Analysis

Consolidated

(Billions of yen)
First Quarter of<br>Fiscal 2022 First Quarter of<br>Fiscal 2021
**** Change
Consolidated Gross Profits 1 **** 591.9 **** 64.7 527.1
Net Interest Income 2 **** 253.2 **** 30.3 222.8
Fiduciary Income 3 **** 14.2 **** (0.6 ) 14.9
Credit Costs for Trust Accounts 4 **** — **** — —
Net Fee and Commission Income 5 **** 159.1 **** 1.7 157.4
Net Trading Income 6 **** 6.9 **** (95.8 ) 102.8
Net Other Operating Income 7 **** 158.2 **** 129.2 28.9
General and Administrative Expenses 8 **** (350.5 ) (15.2 ) (335.3 )
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for<br>Losses on Loans) 9 **** (67.0 ) (61.5 ) (5.4 )
Gains on Reversal of Reserves for Possible Losses on Loans, and others 10 **** 2.2 **** (5.9 ) 8.1
Net Gains (Losses) related to Stocks 11 **** 20.4 **** (3.5 ) 23.9
Equity in Income from Investments in Affiliates 12 **** 5.5 **** (7.1 ) 12.7
Other 13 **** 1.7 **** 14.1 (12.4 )
Ordinary Profits 14 **** 204.2 **** (14.5 ) 218.7
Net Extraordinary Gains (Losses) 15 **** 3.1 **** (24.3 ) 27.4
Income before Income Taxes 16 **** 207.3 **** (38.8 ) 246.1
Income Taxes 17 **** (45.5 ) (52.2 ) 6.7
Profit 18 **** 161.8 **** (91.0 ) 252.8
Profit Attributable to Non-controlling Interests 19 **** (2.5 ) (0.1 ) (2.3 )
Profit Attributable to Owners of Parent 20 **** 159.2 **** (91.2 ) 250.5
Credit-related Costs (including Credit Costs for Trust Accounts) 21 **** (64.8 ) (67.5 ) 2.6
Credit-related Costs [21]  =     Expenses related to Portfolio Problems<br>(including Reversal of (Provision for) General Reserve for Losses on Loans) [9] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [10] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits 22 **** 236.1 **** 41.7 194.3
Consolidated Net Business Profits [22] =     Consolidated Gross<br>Profits [1] – General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments
Number of consolidated subsidiaries 23 **** 165 **** 5 160
Number of affiliates under the equity method 24 **** 24 **** (4 ) 28

2-1

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Billions of yen)
First Quarter of Fiscal 2022 First Quarter of<br>Fiscal 2021
MHBK MHTB Aggregate<br>Figures Change
Gross Profits 1 **** 376.7 **** **** 23.7 **** **** 400.4 **** 61.5 338.9
Net Interest Income 2 **** 232.8 **** **** 4.5 **** **** 237.4 **** 39.5 197.8
Fiduciary Income 3 **** 14.4 **** **** 14.4 **** (0.6 ) 15.1
Trust Fees for Jointly Operated Designated Money Trust 4 **** 0.9 **** **** 0.9 **** (0.0 ) 0.9
Credit Costs for Trust Accounts 5 **** — **** **** — **** — —
Net Fee and Commission Income 6 **** 83.9 **** **** 4.7 **** **** 88.7 **** (0.7 ) 89.4
Net Trading Income 7 **** (58.3 ) **** — **** **** (58.3 ) (88.2 ) 29.9
Net Other Operating Income 8 **** 118.1 **** **** 0.0 **** **** 118.2 **** 111.6 6.5
General and Administrative Expenses<br>(excluding<br>Non-Recurring Losses) 9 **** (194.2 ) **** (20.3 ) **** (214.6 ) 0.1 (214.8 )
Net Business Profits (before Reversal of (Provision for)<br>General Reserve for Losses on Loans)^(1)^ 10 **** 182.4 **** **** 3.3 **** **** 185.8 **** 61.6 124.1
Net Business Profits (before Reversal of (Provision for) General<br>Reserve for Losses on Loans)<br>from core business areas^(2)^ 11 **** 165.8 **** **** 3.3 **** **** 169.2 **** 52.1 117.0
Excluding Net Gains (Losses) from redemption of Investment Trusts 12 **** 148.2 **** **** 3.3 **** **** 151.6 **** 38.0 113.6
Reversal of (Provision for) General Reserve for Losses on Loans 13 **** (12.2 ) **** — **** **** (12.2 ) (12.2 ) (0.0 )
Net Business Profits 14 **** 170.1 **** **** 3.3 **** **** 173.5 **** 49.4 124.1
Net Gains (Losses) related to Bonds 15 **** 16.6 **** **** (0.0 ) **** 16.5 **** 9.5 7.0
Net Non-Recurring Gains (Losses) 16 **** (34.6 ) **** 1.4 **** **** (33.1 ) (57.8 ) 24.6
Net Gains (Losses) related to Stocks 17 **** 18.6 **** **** 0.1 **** **** 18.8 **** (3.6 ) 22.4
Expenses related to Portfolio Problems 18 **** (64.8 ) **** — **** **** (64.8 ) (59.9 ) (4.9 )
Gains on Reversal of Reserves for Possible Losses on Loans, and others 19 **** 2.1 **** **** 0.0 **** **** 2.2 **** (5.9 ) 8.1
Other 20 **** 9.4 **** **** 1.1 **** **** 10.5 **** 11.6 (1.0 )
Ordinary Profits 21 **** 135.5 **** **** 4.8 **** **** 140.3 **** (8.3 ) 148.7
Net Extraordinary Gains (Losses) 22 **** 3.1 **** **** 3.3 **** **** 6.4 **** (21.2 ) 27.6
Income before Income Taxes 23 **** 138.6 **** **** 8.1 **** **** 146.8 **** (29.6 ) 176.4
Income Taxes 24 **** (37.4 ) **** (2.2 ) **** (39.7 ) 36.1 (75.9 )
Net Income 25 **** 101.2 **** **** 5.8 **** **** 107.0 **** 6.5 100.5
(1)  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB<br>excludes the amounts of “Credit Costs for Trust Accounts” [5].<br> <br>(2)  Net Business Profits<br>(before Reversal of (Provision for) General Reverse for Losses on Loans) from core business areas[11] =Net Business Profits (before Reversal of (Provision for) General Reverse for Losses on Loans)[10]-Net<br>Gains (Losses) related to Bonds[15]
Credit-related Costs 26 **** (74.9 ) **** 0.0 **** **** (74.8 ) (78.0 ) 3.2
Credit-related Costs [26] =    Expenses related to Portfolio Problems [18] +<br>Reversal of (Provision for) General Reserve for Losses on Loans [13] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [19] + Credit Costs for Trust Accounts [5]
Reference: Breakdown of Credit-related Costs
Credit Costs for Trust Accounts 27 **** — **** **** — **** — —
Reversal of (Provision for) General Reserve for Losses on Loans 28 **** (12.2 ) **** 0.0 **** **** (12.1 ) (6.7 ) (5.4 )
Losses on Write-offs of Loans 29 **** (48.6 ) **** 0.0 **** **** (48.6 ) (45.6 ) (2.9 )
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans 30 **** (15.5 ) **** 0.0 **** **** (15.5 ) (26.9 ) 11.3
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring<br>Countries 31 **** 1.4 **** **** — **** **** 1.4 **** 1.3 0.0
Reversal of (Provision for) Reserve for Contingencies 32 **** 0.2 **** **** — **** **** 0.2 **** (0.0 ) 0.2
Other (including Losses on Sales of Loans) 33 **** (0.2 ) **** — **** **** (0.2 ) (0.1 ) (0.0 )
Total 34 **** (74.9 ) **** 0.0 **** **** (74.8 ) (78.0 ) 3.2

2-2

Mizuho Financial Group, Inc.

2. Net Gains/Losses on Stocks

Consolidated

(Billions of yen)
First Quarter of<br>Fiscal 2022 Change First Quarter of<br>Fiscal 2021
Net Gains (Losses) related to Stocks **** 20.4 **** (3.5 ) 23.9
Gains on Sales **** 24.6 **** (24.7 ) 49.4
Losses on Sales **** (5.1 ) 10.2 (15.3 )
Impairment (Devaluation) **** (0.4 ) 1.9 (2.3 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** 1.3 **** 9.0 (7.7 )
Non-Consolidated
Aggregate Figures for the 2 Banks
First Quarter of<br>Fiscal 2022 Change First Quarter of<br>Fiscal 2021
Net Gains (Losses) related to Stocks **** 18.8 **** (3.6 ) 22.4
Gains on Sales **** 22.3 **** (24.6 ) 46.9
Losses on Sales **** (4.6 ) 10.2 (14.8 )
Impairment (Devaluation) **** (0.2 ) 1.7 (1.9 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** 1.3 **** 9.0 (7.7 )
Mizuho Bank ****
First Quarter of<br>Fiscal 2022 Change First Quarter of<br>Fiscal 2021
Net Gains (Losses) related to Stocks **** 18.6 **** (3.5 ) 22.2
Gains on Sales **** 22.1 **** (24.4 ) 46.6
Losses on Sales **** (4.6 ) 10.1 (14.8 )
Impairment (Devaluation) **** (0.2 ) 1.6 (1.9 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** 1.3 **** 9.0 (7.7 )
Mizuho Trust & Banking ****
First Quarter of<br>Fiscal 2022 Change First Quarter of<br>Fiscal 2021
Net Gains (Losses) related to Stocks **** 0.1 **** (0.1 ) 0.2
Gains on Sales **** 0.1 **** (0.1 ) 0.3
Losses on Sales **** (0.0 ) 0.0 (0.0 )
Impairment (Devaluation) **** (0.0 ) 0.0 (0.0 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** — **** — —

2-3

Mizuho Financial Group, Inc.

3. Unrealized Gains/Losses on Securities

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

Consolidated

(1) OtherSecurities

(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Book Value<br>(=Fair Value) Unrealized Gains/Losses Book Value<br>(=Fair Value) Unrealized Gains/Losses
Gains Losses Gains Losses
MHFG (Consolidated)
Other Securities **** 40,636.0 **** 531.3 **** 1,495.1 963.8 42,065.7 990.1 1,593.7 603.6
Japanese Stocks **** 2,485.1 **** 1,412.9 **** 1,446.7 33.7 2,577.3 1,499.9 1,538.3 38.4
Japanese Bonds **** 25,024.7 **** (57.9 ) 17.5 75.5 28,620.4 (52.1) 19.7 71.9
Japanese Government Bonds **** 21,402.1 **** (34.1 ) 6.3 40.5 25,158.7 (30.5) 7.4 38.0
Other **** 13,126.1 **** (823.7 ) 30.9 854.6 10,867.9 (457.5 ) 35.5 493.1
Foreign Bonds **** 11,330.8 **** (709.2 ) 6.9 716.1 8,937.5 (414.2 ) 2.3 416.6
* In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from<br>Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included.
--- ---
* Unrealized Gains/Losses include ¥20.4 billion and ¥27.4 billion, which were recognized in the<br>statement of income for June 30, 2022 and March 31, 2022 respectively, by applying the fair-value hedge accounting.
--- ---
* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the<br>deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment as of June 30, 2022 and March 31, 2022 are ¥260.5 billion and ¥126.2 billion, respectively.
--- ---

(2) Bonds Held to Maturity

(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses Gains Losses
MHFG (Consolidated) **** 1,811.0 **** (106.0) 4.6 110.7 1,517.5 (52.0) 5.3 57.3

2-4

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) OtherSecurities

(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
(=Fair Value) Gains Losses (=Fair Value) Gains Losses
MHBK
Other Securities **** 39,828.1 **** 394.8 **** **** 1,353.8 **** 959.0 41,243.3 846.8 1,446.7 599.8
Japanese Stocks **** 2,262.0 **** 1,278.8 **** **** 1,308.6 **** 29.7 2,349.0 1,360.4 1,395.9 35.4
Japanese Bonds **** 24,918.3 **** (58.6 ) **** 16.8 **** 75.4 28,517.0 (52.9 ) 18.9 71.9
Japanese Government Bonds **** 21,390.8 **** (34.1 ) **** 6.3 **** 40.5 25,147.5 (30.5 ) 7.4 38.0
Other **** 12,647.8 **** (825.4 ) **** 28.3 **** 853.7 10,377.2 (460.6 ) 31.8 492.4
Foreign Bonds **** 10,890.2 **** (709.3 ) **** 5.9 **** 715.3 8,487.9 (414.8 ) 1.1 416.0
MHTB
Other Securities **** 241.9 **** 72.2 **** **** 78.4 **** 6.2 240.3 73.0 78.3 5.3
Japanese Stocks **** 147.4 **** 71.0 **** **** 77.3 **** 6.2 148.2 71.8 77.1 5.2
Japanese Bonds **** 88.5 **** 0.6 **** **** 0.6 **** 0.0 86.4 0.7 0.8 0.0
Japanese Government Bonds **** — **** — **** **** — **** — — — — —
Other **** 5.9 **** 0.4 **** **** 0.4 **** 0.0 5.6 0.4 0.4 0.0
Foreign Bonds **** — **** — **** **** — **** — **** — **** — **** **** — **** —
Total
Other Securities **** 40,070.1 **** 467.0 **** **** 1,432.3 **** 965.2 41,483.6 919.9 1,525.1 605.1
Japanese Stocks **** 2,409.4 **** 1,349.9 **** **** 1,385.9 **** 35.9 2,497.3 1,432.3 1,473.0 40.7
Japanese Bonds **** 25,006.9 **** (57.9 ) **** 17.5 **** 75.5 28,603.4 (52.1 ) 19.7 71.9
Japanese Government Bonds **** 21,390.8 **** (34.1 ) **** 6.3 **** 40.5 25,147.5 (30.5 ) 7.4 38.0
Other **** 12,653.8 **** (824.9 ) **** 28.8 **** 853.7 10,382.9 (460.1 ) 32.3 492.4
Foreign Bonds **** 10,890.2 **** (709.3 ) **** 5.9 **** 715.3 8,487.9 (414.8 ) 1.1 416.0
* In addition to “Securities” on the balance sheets, NCDs in “Cash and Due from Banks” and<br>certain items in “Other Debt Purchased” are also included.
--- ---
* Unrealized Gains/Losses include ¥20.4 billion and ¥27.4 billion, which were recognized in the<br>statement of income (aggregate figures for the 2 banks) for June 30, 2022 and March 31, 2022 respectively, by applying the fair-value hedge accounting.
--- ---
* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the<br>deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment (aggregate figures for the 2 banks) as of June 30, 2022 and March 31, 2022 are ¥260.5 billion and ¥126.2 billion, respectively.<br>
--- ---

2-5

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity

(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses Gains Losses
MHBK **** 1,811.0 **** (106.0 ) 4.6 110.7 1,517.5 (52.0 ) 5.3 57.3
MHTB **** — **** — **** — — — — — —
Total **** 1,811.0 **** (106.0 ) 4.6 110.7 1,517.5 (52.0 ) 5.3 57.3
(3) Investments in Subsidiaries andAffiliates
(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses Gains Losses
MHBK **** 108.9 **** 313.8 **** 314.2 0.4 108.9 311.9 312.3 0.3
MHTB **** — **** — **** — — — — — —
Total **** 108.9 **** 313.8 **** 314.2 0.4 108.9 311.9 312.3 0.3

(Reference)

Unrealized Gains/Losses on Other Securities

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

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

The base amounts are as follows:

Consolidated

(Billions of yen)
As of June 30, 2022 As of<br>March 31,2022
Unrealized Gains/Losses Unrealized<br>Gains/Losses
Change
Other Securities **** 510.8 **** (451.8 ) 962.7
Japanese Stocks **** 1,392.5 **** (79.9 ) 1,472.4
Japanese Bonds **** (57.9 ) (5.7 ) (52.1 )
Japanese Government Bonds **** (34.1 ) (3.6 ) (30.5 )
Other **** (823.7 ) (366.1 ) (457.5 )
Foreign Bonds **** (709.2 ) (294.9 ) (414.2 )
Non-Consolidated
Aggregate Figures for the 2 Banks
(Billions of yen)
As of June 30, 2022 As of<br>March 31,2022
Unrealized Gains/Losses Unrealized<br>Gains/Losses
Change
Other Securities **** 446.5 **** (445.9 ) 892.4
Japanese Stocks **** 1,329.4 **** (75.3 ) 1,404.8
Japanese Bonds **** (57.9 ) (5.7 ) (52.1 )
Japanese Government Bonds **** (34.1 ) (3.6 ) (30.5 )
Other **** (824.9 ) (364.7 ) (460.1 )
Foreign Bonds **** (709.3 ) (294.5 ) (414.8 )

2-6

Mizuho Financial Group, Inc.

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

Non-Consolidated

Aggregate Figures for the 2 Banks

(Billions of yen)
As of June 30, 2022 As of March 31, 2022
Deferred Hedge Gains/Losses Deferred Hedge Gains/Losses
Gains Losses Gains Losses
MHBK **** 1,734.6 **** 1,896.8 (162.1 ) 1,320.4 1,435.8 (115.3 )
MHTB **** 21.0 **** 15.1 5.8 **** 15.5 15.9 (0.3 )
Total **** 1,755.6 **** 1,911.9 (156.2 ) 1,336.0 1,451.7 (115.7 )

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

2-7

Mizuho Financial Group, Inc.

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

Consolidated

(Billions of yen)
As of June 30, 2022 As of<br>March 31, 2022
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 93.4 42.5 50.8
Claims with Collection Risk **** 353.4 (368.7 ) 722.2
Claims for Special Attention **** 364.9 10.8 354.0
Loans Past Due for 3 Months or More **** 19.2 16.7 2.4
Restructured Loans **** 345.6 (5.8 ) 351.5
Sub-total[1] **** 811.7 (315.3 ) 1,127.1
Normal Claims **** 102,655.8 6,430.9 96,224.9
Total[2] **** 103,467.6 6,115.6 97,352.0
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table<br>below.
Amount of Partial Direct Write-offs **** 468.2 359.3 108.8
(%)
NPL ratio[1]/[2] **** 0.78 (0.37 ) 1.15
Trust Account
(Billions of yen)
As of June 30, 2022 As of<br>March 31, 2022
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** — — —
Claims with Collection Risk **** — — —
Claims for Special Attention **** — — —
Loans Past Due for 3 Months or More **** — — —
Restructured Loans **** — — —
Sub-total[3] **** — — —
Normal Claims **** 3.5 (0.2 ) 3.8
Total[4] **** 3.5 (0.2 ) 3.8
(%)
NPL ratio[3]/[4] **** — — —

2-8

Mizuho Financial Group, Inc.

Consolidated + Trust Account

(Billions of yen)
As of June 30, 2022 As of<br>March 31, 2022
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 93.4 42.5 50.8
Claims with Collection Risk **** 353.4 (368.7 ) 722.2
Claims for Special Attention **** 364.9 10.8 354.0
Loans Past Due for 3 Months or More **** 19.2 16.7 2.4
Restructured Loans **** 345.6 (5.8 ) 351.5
Sub-total[5] **** 811.7 (315.3 ) 1,127.1
Normal Claims **** 102,659.4 6,430.7 96,228.7
Total[6] **** 103,471.2 6,115.3 97,355.8
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 468.2 359.3 108.8
(%)
NPL ratio[5]/[6] **** 0.78 (0.37 ) 1.15

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

2-9

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account +Trust Account)

(Billions of yen)
As of June 30, 2022 As of<br>March 31, 2022
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 88.8 47.7 41.1
Claims with Collection Risk **** 355.0 (370.9 ) 726.0
Claims for Special Attention **** 333.2 14.7 318.5
Loans Past Due for 3 Months or More **** 19.8 17.3 2.4
Restructured Loans **** 313.4 (2.6 ) 316.0
Sub-total[1] **** 777.1 (308.5 ) 1,085.6
Normal Claims **** 104,329.0 6,395.5 97,933.5
Total[2] **** 105,106.2 6,087.0 99,019.2
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 464.5 359.1 105.4
(%)
NPL ratio[1]/[2] **** 0.73 (0.35 ) 1.09
Mizuho Bank
(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** 88.5 47.8 40.7
Claims with Collection Risk **** 344.2 (370.5 ) 714.8
Claims for Special Attention **** 331.2 14.2 316.9
Loans Past Due for 3 Months or More **** 19.8 17.4 2.4
Restructured Loans **** 311.3 (3.1 ) 314.5
Sub-total[3] **** 764.0 (308.4 ) 1,072.5
Normal Claims **** 101,154.4 6,419.4 94,734.9
Total[4] **** 101,918.4 6,111.0 95,807.4
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 464.3 359.1 105.2
(%)
NPL ratio[3]/[4] **** 0.74 (0.36 ) 1.11

2-10

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)

(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** 0.2 (0.1 ) 0.3
Claims with Collection Risk **** 10.8 (0.3 ) 11.2
Claims for Special Attention **** 2.0 0.4 1.5
Loans Past Due for 3 Months or More **** 0.0 (0.0 ) 0.0
Restructured Loans **** 2.0 0.4 1.5
Sub-total[5] **** 13.0 (0.0 ) 13.1
Normal Claims **** 3,171.0 (23.7 ) 3,194.8
Total[6] **** 3,184.1 (23.7 ) 3,207.9
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table<br>below.
Amount of Partial Direct Write-offs **** 0.2 (0.0 ) 0.2
(%)
NPL ratio[5]/[6] **** 0.41 0.00 0.40
(Trust Account)
(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** — — —
Claims with Collection Risk **** — — —
Claims for Special Attention **** — — —
Loans Past Due for 3 Months or More **** — — —
Restructured Loans **** — — —
Sub-total[7] **** — — —
Normal Claims **** 3.5 (0.2 ) 3.8
Total[8] **** 3.5 (0.2 ) 3.8
(%)
NPL ratio[7]/[8] **** — — —

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

2-11

Mizuho Financial Group, Inc.

6. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks

(Billions of yen)
As of<br>June 30, 2022 As of<br>March 31, 2022
Change
MHBK **** 131,981.3 (1,652.4 ) 133,633.8
MHTB **** 2,613.9 42.6 2,571.3
Total **** 134,595.3 (1,609.8 ) 136,205.2

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks

(Billions of yen)
As of<br>June 30, 2022 As of<br>March 31, 2022
Change
MHBK **** 104,985.3 (4,974.7 ) 109,960.1
Individual deposits **** 47,531.0 667.5 46,863.5
MHTB **** 2,613.9 42.6 2,571.3
Individual deposits **** 801.6 (2.3 ) 803.9
Total **** 107,599.3 (4,932.1 ) 112,531.4
Individual deposits **** 48,332.6 665.1 47,667.5

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

(2) Loans and Bills Discounted

Aggregate Figures for the 2 Banks

(Billions of yen)
As of<br>June 30, 2022 As of<br>March 31, 2022
Change
MHBK **** 86,820.5 3,858.1 82,962.4
MHTB **** 3,166.9 (25.4 ) 3,192.3
Total **** 89,987.5 3,832.6 86,154.8

Note: Loans to MHFG are included as follows:

As of June 30, 2022:     ¥675.0 billion (from MHBK)

As of March 31, 2022: ¥755.0 billion (from MHBK)

2-12

Mizuho Financial Group, Inc.

(3) Interest Margins (Domestic Operations)

Mizuho Bank

(%)
First Quarter of<br><br><br>Fiscal 2022<br><br><br>(For the three months) Change First Quarter of<br><br><br>Fiscal 2021<br><br><br>(For the three months)
Return on Loans and Bills Discounted 1 0.73 (0.00) 0.74
Cost of Deposits 2 0.00 (0.00) 0.00
Loan and Deposit Rate Margin [1]-[2] 3 0.73 (0.00) 0.74
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 4 0.75 (0.01) 0.76
Loan and Deposit Rate Margin [4]-[2] 5 0.74 (0.01) 0.76
Mizuho Trust & Banking
(%)
First Quarter of<br><br><br>Fiscal 2022<br><br><br>(For the three months) Change First Quarter of<br><br><br>Fiscal 2021<br><br><br>(For the three months)
Return on Loans and Bills Discounted 6 0.60 0.02 0.58
Cost of Deposits 7 0.00 (0.00) 0.01
Loan and Deposit Rate Margin [6]-[7] 8 0.59 0.02 0.57
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 9 0.60 0.00 0.60
Loan and Deposit Rate Margin [9]-[7] 10 0.59 0.00 0.59
(Reference)
Aggregate Figures for the 2 Banks
(%)
First Quarter of<br><br><br>Fiscal 2022<br><br><br>(For the three months) Change First Quarter of<br><br><br>Fiscal 2021<br><br><br>(For the three months)
Return on Loans and Bills Discounted 11 0.73 (0.00) 0.73
Cost of Deposits 12 0.00 (0.00) 0.00
Loan and Deposit Rate Margin [11]-[12] 13 0.72 (0.00) 0.73
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 14 0.74 (0.01) 0.75
Loan and Deposit Rate Margin [14]-[12] 15 0.74 (0.01) 0.75

2-13

Mizuho Bank, Ltd.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

Millions of yen
As of<br>June 30,<br>2022 (A) As of<br>March 31,<br>2022 (B) Change<br>(A) - (B)
Assets
Cash and Due from Banks ¥ 51,354,076 **** ¥ 48,803,771 ¥ 2,550,304
Call Loans **** 1,022,926 **** 1,223,766 (200,839 )
Receivables under Resale Agreements **** 1,487,789 **** 1,681,260 (193,470 )
Guarantee Deposits Paid under Securities Borrowing Transactions **** 163,401 **** 154,255 9,146
Other Debt Purchased **** 757,001 **** 679,939 77,061
Trading Assets **** 6,341,922 **** 4,496,695 1,845,226
Money Held in Trust **** 504 **** 504 0
Securities **** 43,352,058 **** 44,608,181 (1,256,122 )
Loans and Bills Discounted **** 86,820,581 **** 82,962,457 3,858,123
Foreign Exchange Assets **** 3,341,765 **** 2,509,122 832,643
Derivatives other than for Trading **** 10,205,406 **** 6,133,443 4,071,962
Other Assets **** 7,454,513 **** 5,958,848 1,495,665
Tangible Fixed Assets **** 844,108 **** 847,689 (3,581 )
Intangible Fixed Assets **** 345,883 **** 347,681 (1,798 )
Prepaid Pension Cost **** 450,153 **** 440,611 9,541
Deferred Tax Assets **** 446,469 **** 273,129 173,340
Customers’ Liabilities for Acceptances and Guarantees **** 10,048,253 **** 8,733,646 1,314,607
Reserves for Possible Losses on Loans **** (543,235 ) (814,778 ) 271,542
Reserve for Possible Losses on Investments **** (106 ) (106 ) —
Total Assets ¥ 223,893,473 **** ¥ 209,040,119 ¥ 14,853,353
Liabilities
Deposits ¥ 131,981,399 **** ¥ 133,633,887 ¥ (1,652,488 )
Negotiable Certificates of Deposit **** 20,443,238 **** 16,162,209 4,281,029
Call Money **** 1,102,230 **** 940,058 162,172
Payables under Repurchase Agreements **** 13,407,945 **** 9,293,236 4,114,709
Guarantee Deposits Received under Securities Lending Transactions **** 393,325 **** 146,864 246,460
Commercial Paper **** 1,448,280 **** 1,775,859 (327,579 )
Trading Liabilities **** 5,050,578 **** 3,447,533 1,603,045
Borrowed Money **** 14,791,930 **** 14,397,626 394,304
Foreign Exchange Liabilities **** 867,926 **** 1,788,299 (920,373 )
Bonds and Notes **** 828,815 **** 810,504 18,310
Derivatives other than for Trading **** 11,173,855 **** 6,635,032 4,538,822
Other Liabilities **** 5,812,992 **** 4,302,633 1,510,359
Reserve for Bonus Payments **** 198 **** 24,582 (24,383 )
Reserve for Variable Compensation **** 730 **** 763 (32 )
Reserve for Possible Losses on Sales of Loans **** 2,967 **** 1,309 1,658
Reserve for Contingencies **** 1,206 **** 1,306 (100 )
Reserve for Reimbursement of Deposits **** 15,685 **** 16,627 (942 )
Reserve for Reimbursement of Debentures **** 9,771 **** 10,504 (732 )
Deferred Tax Liabilities for Revaluation Reserve for Land **** 59,874 **** 59,962 (87 )
Acceptances and Guarantees **** 10,048,253 **** 8,733,646 1,314,607
Total Liabilities **** 217,441,204 **** 202,182,447 15,258,757
Net Assets
Common Stock and Preferred Stock **** 1,404,065 **** 1,404,065 —
Capital Surplus **** 2,259,392 **** 2,259,392 —
Capital Reserve **** 660,805 **** 660,805 —
Other Capital Surplus **** 1,598,587 **** 1,598,587 —
Retained Earnings **** 2,459,465 **** 2,519,294 (59,828 )
Appropriated Reserve **** 421,264 **** 389,012 32,251
Other Retained Earnings **** 2,038,201 **** 2,130,281 (92,079 )
Retained Earnings Brought Forward **** 2,038,201 **** 2,130,281 (92,079 )
Total Shareholders’ Equity **** 6,122,923 **** 6,182,751 (59,828 )
Net Unrealized Gains (Losses) on Other Securities, net of Taxes **** 310,449 **** 623,367 (312,917 )
Net Deferred Hedge Gains (Losses), net of Taxes **** (113,062 ) (80,603 ) (32,458 )
Revaluation Reserve for Land, net of Taxes **** 131,957 **** 132,156 (199 )
Total Valuation and Translation Adjustments **** 329,344 **** 674,920 (345,575 )
Total Net Assets **** 6,452,268 **** 6,857,672 (405,404 )
Total Liabilities and Net Assets ¥ 223,893,473 **** ¥ 209,040,119 ¥ 14,853,353

2-14

Mizuho Bank, Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OFINCOME (selected items)

OF MIZUHO BANK

Millions of yen
For the three months<br>ended June 30, 2022<br>(A) For the three months<br>ended June 30, 2021<br>(B) Change<br>(A) - (B)
Ordinary Income ¥ 664,278 **** ¥ 474,024 ¥ 190,254
Interest Income **** 377,748 **** 251,099 126,648
Interest on Loans and Bills Discounted **** 247,729 **** 186,171 61,557
Interest and Dividends on Securities **** 75,693 **** 42,362 33,331
Fee and Commission Income **** 128,769 **** 116,576 12,192
Trading Income **** 44 **** 29,836 (29,791 )
Other Operating Income **** 127,636 **** 18,443 109,193
Other Ordinary Income **** 30,079 **** 58,068 (27,988 )
Ordinary Expenses **** 528,733 **** 333,416 195,317
Interest Expenses **** 144,855 **** 57,657 87,197
Interest on Deposits **** 48,358 **** 8,512 39,845
Fee and Commission Expenses **** 44,811 **** 35,046 9,765
Trading Expenses **** 58,382 **** 139 58,242
Other Operating Expenses **** 9,442 **** 11,951 (2,509 )
General and Administrative Expenses **** 185,033 **** 184,458 574
Other Ordinary Expenses **** 86,209 **** 44,161 42,047
Ordinary Profits **** 135,544 **** 140,608 (5,063 )
Extraordinary Gains **** 3,505 **** 27,341 (23,836 )
Extraordinary Losses **** 365 **** 1,239 (873 )
Income before Income Taxes **** 138,684 **** 166,710 (28,025 )
Income Taxes:
Current **** 58,942 **** 38,669 20,272
Deferred **** (21,487 ) 34,369 (55,856 )
Net Income ¥ 101,229 **** ¥ 93,671 ¥ 7,558

2-15

Mizuho Trust & Banking Co., Ltd.

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS(selected items)

OF MIZUHO TRUST & BANKING

Millions of yen
As of<br>June 30,<br>2022 (A) As of<br>March 31,<br>2022 (B) Change<br>(A) - (B)
Assets
Cash and Due from Banks ¥ 1,705,052 **** ¥ 1,923,672 ¥ (218,620 )
Guarantee Deposits Paid under Securities Borrowing Transactions **** 150,100 **** 20,046 130,054
Other Debt Purchased **** 37,153 **** 35,314 1,838
Money Held in Trust **** 26,898 **** 26,556 341
Securities **** 288,680 **** 288,530 149
Loans and Bills Discounted **** 3,166,920 **** 3,192,348 (25,427 )
Foreign Exchange Assets **** 4,486 **** 3,898 588
Other Assets **** 216,006 **** 255,755 (39,748 )
Tangible Fixed Assets **** 99,545 **** 100,132 (586 )
Intangible Fixed Assets **** 20,992 **** 21,728 (735 )
Prepaid Pension Cost **** 68,457 **** 66,607 1,849
Customers’ Liabilities for Acceptances and Guarantees **** 15,508 **** 14,100 1,407
Reserves for Possible Losses on Loans **** (2,372 ) (2,470 ) 97
Total Assets ¥ 5,797,431 **** ¥ 5,946,221 ¥ (148,789 )
Liabilities
Deposits ¥ 2,613,958 **** ¥ 2,571,352 ¥ 42,606
Negotiable Certificates of Deposit **** 770,780 **** 691,880 78,900
Call Money **** 408,277 **** 603,990 (195,712 )
Borrowed Money **** 300,000 **** 300,000 —
Due to Trust Accounts **** 1,120,207 **** 1,167,284 (47,077 )
Other Liabilities **** 43,147 **** 31,317 11,829
Reserve for Bonus Payments **** 9 **** 2,741 (2,731 )
Reserve for Variable Compensation **** 276 **** 272 4
Provision for Retirement Benefits **** 4,424 **** 4,935 (511 )
Reserve for Reimbursement of Deposits **** 892 **** 992 (99 )
Reserve for Loss of Transfer **** — **** 3,061 (3,061 )
Deferred Tax Liabilities **** 21,248 **** 17,484 3,763
Acceptances and Guarantees **** 15,508 **** 14,100 1,407
Total Liabilities **** 5,298,730 **** 5,409,413 (110,683 )
Net Assets
Common Stock and Preferred Stock **** 247,369 **** 247,369 —
Capital Surplus **** 15,505 **** 15,505 —
Capital Reserve **** 15,505 **** 15,505 —
Retained Earnings **** 254,338 **** 296,471 (42,132 )
Appropriated Reserve **** 159,891 **** 150,297 9,593
Other Retained Earnings **** 94,447 **** 146,174 (51,726 )
Retained Earnings Brought Forward **** 94,447 **** 146,174 (51,726 )
Treasury Stock **** (79,999 ) (79,999 ) —
Total Shareholders’ Equity **** 437,213 **** 479,346 (42,132 )
Net Unrealized Gains (Losses) on Other Securities, net of Taxes **** 57,404 **** 57,707 (303 )
Net Deferred Hedge Gains (Losses), net of Taxes **** 4,082 **** (246 ) 4,329
Total Valuation and Translation Adjustments **** 61,487 **** 57,460 4,026
Total Net Assets **** 498,700 **** 536,807 (38,106 )
Total Liabilities and Net Assets ¥ 5,797,431 **** ¥ 5,946,221 ¥ (148,789 )

2-16

Mizuho Trust & Banking Co., Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OFINCOME (selected items)

OF MIZUHO TRUST & BANKING

Millions of yen
For the three months<br>ended June 30, 2022<br>(A) For the three months<br>ended June 30, 2021<br>(B) Change<br>(A) - (B)
Ordinary Income ¥ 36,185 **** ¥ 39,486 ¥ (3,300 )
Fiduciary Income **** 14,412 **** 15,106 (693 )
Interest Income **** 6,319 **** 6,207 112
Interest on Loans and Bills Discounted **** 4,970 **** 4,968 1
Interest and Dividends on Securities **** 886 **** 782 103
Fee and Commission Income **** 14,565 **** 17,092 (2,526 )
Trading Income **** — **** 241 (241 )
Other Operating Income **** 25 **** 98 (73 )
Other Ordinary Income 862 740 122
Ordinary Expenses **** 31,368 **** 31,345 22
Interest Expenses **** 1,754 **** 1,772 (18 )
Interest on Deposits **** 60 **** 85 (24 )
Fee and Commission Expenses **** 9,786 **** 9,152 634
Trading Expenses **** — **** — —
Other Operating Expenses **** 2 **** 0 2
General and Administrative Expenses **** 19,203 **** 19,512 (308 )
Other Ordinary Expenses **** 621 **** 908 (287 )
Ordinary Profits 4,817 8,140 (3,323 )
Extraordinary Gains **** 3,366 **** 1,599 1,766
Extraordinary Losses 49 14 35
Income before Income Taxes **** 8,134 **** 9,726 (1,592 )
Income Taxes:
Current **** (71 ) 630 (702 )
Deferred **** 2,370 **** 2,240 129
Net Income ¥ 5,835 **** ¥ 6,855 ¥ (1,019 )

2-17

Mizuho Securities Co., Ltd.

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS(selected items)

OF MIZUHO SECURITIES

Millions of yen
As of<br>June 30,<br>2022 (A) As of<br>March 31,<br>2022 (B) Change<br>(A) - (B)
Assets
Current Assets
Cash and Bank Deposits ¥ 401,775 **** ¥ 405,261 ¥ (3,485 )
Cash Segregated as Deposits for Customers and Others **** 531,098 **** 541,274 (10,175 )
Trading Assets **** 8,717,193 **** 6,921,502 1,795,690
Receivables - Unsettled Trades **** 193,080 **** 145,887 47,193
Operating Investment Securities **** 46,279 **** 40,926 5,352
Receivables Related to Margin Transactions **** 28,112 **** 34,802 (6,690 )
Collateralized Short-Term Financing Agreements-Receivable **** 4,922,783 **** 4,707,548 215,234
Advances Paid **** 258 **** 94 163
Securities: Fail to Deliver **** 29,548 **** 32,415 (2,866 )
Short-Term Loans Receivable **** 48,625 **** 47,983 642
Other Current Assets **** 835,233 **** 700,334 134,899
Less: Allowance for Doubtful Accounts **** (86 ) (79 ) (7 )
Noncurrent Assets
Property and Equipment **** 18,358 **** 18,742 (384 )
Intangible Assets **** 67,351 **** 68,497 (1,145 )
Investments and Other Assets **** 312,246 **** 304,034 8,212
Total Assets ¥ 16,151,859 **** ¥ 13,969,227 ¥ 2,182,632
Liabilities
Current Liabilities
Trading Liabilities ¥ 7,770,408 **** ¥ 5,356,537 ¥ 2,413,870
Payables Related to Margin Transactions **** 48,773 **** 50,556 (1,782 )
Collateralized Short-Term Financing Agreements-Payable **** 3,859,120 **** 4,144,682 (285,561 )
Deposits Received **** 457,147 **** 425,452 31,694
Guarantee Deposits Received **** 299,013 **** 425,613 (126,600 )
Securities: Fail to Receive **** 2,296 **** 7,083 (4,786 )
Short-Term Borrowings **** 1,093,713 **** 904,079 189,634
Commercial Paper **** 480,000 **** 490,500 (10,500 )
Bonds and Notes Due within One Year **** 180,961 **** 148,768 32,193
Income Taxes Payable **** 1,706 **** 2,515 (809 )
Accrued Employees’ Bonuses **** 4,215 **** 25,379 (21,164 )
Provision for Variable Compensation **** 511 **** 411 100
Other Current Liabilities **** 34,442 **** 46,970 (12,527 )
Noncurrent Liabilities
Bonds and Notes **** 761,519 **** 753,870 7,649
Long-Term Borrowings **** 593,400 **** 580,000 13,400
Provision for Retirement Benefits **** 21,642 **** 22,579 (936 )
Reserve for Loss of Transfer **** 1,159 **** 1,541 (382 )
Other Noncurrent Liabilities **** 4,125 **** 3,769 356
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities **** 3,131 **** 3,132 (1 )
Total Liabilities **** 15,617,287 **** 13,393,441 2,223,846
Net Assets
Common Stock **** 125,167 **** 125,167 —
Capital Surplus **** 381,649 **** 381,649 —
Additional Paid - in Capital **** 285,831 **** 285,831 —
Other Capital Surplus **** 95,817 **** 95,817 —
Retained Earnings **** 386,873 **** 425,554 (38,680 )
Other Retained Earnings **** 386,873 **** 425,554 (38,680 )
Retained Earnings Brought Forward 386,873 425,554 (38,680 )
Treasury Stock **** (369,999 ) (369,999 ) —
Total Shareholders’ Equity **** 523,690 **** 562,371 (38,680 )
Net Unrealized Gains on (Operating) Investment Securities, net of Tax **** 20,601 **** 23,193 (2,591 )
Net Deferred Gains or Losses on Hedges, net of Tax **** (9,720 ) (9,778 ) 57
Total Valuation and Translation Adjustments **** 10,881 **** 13,415 (2,533 )
Total Net Assets **** 534,571 **** 575,786 (41,214 )
Total Liabilities and Net Assets ¥ 16,151,859 **** ¥ 13,969,227 ¥ 2,182,632

2-18

Mizuho Securities Co., Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OFINCOME (selected items)

OF MIZUHO SECURITIES

Millions of yen
For the three months<br>ended June 30, 2022<br>(A) For the three months<br>ended June 30, 2021<br>(B) Change<br>(A) - (B)
Operating Revenues ¥ 81,977 **** ¥ 92,363 ¥ (10,386 )
Commissions **** 32,563 **** 46,903 (14,340 )
Net Gain on Trading **** 26,704 **** 31,969 (5,264 )
Net Gain on Operating Investment Securities **** 431 **** 22 409
Interest and Dividend Income **** 22,278 **** 13,468 8,809
Interest Expenses **** 18,521 **** 8,981 9,540
Net Operating Revenues **** 63,455 **** 83,382 (19,926 )
Selling, General and Administrative Expenses **** 55,118 **** 62,203 (7,084 )
Transaction-Related Expenses **** 14,359 **** 17,702 (3,343 )
Personnel Expenses **** 19,492 **** 23,157 (3,664 )
Real Estate Expenses **** 5,633 **** 5,126 506
Administrative Expenses **** 10,106 **** 9,460 646
Depreciation and Amortization **** 3,350 **** 4,781 (1,431 )
Taxes and Dues **** 1,418 **** 1,278 139
Provision of Allowance for Doubtful Accounts **** 78 **** (15 ) 93
Other **** 679 **** 711 (32 )
Operating Income **** 8,337 **** 21,179 (12,842 )
Non-Operating Income **** 864 **** 1,271 (407 )
Non-Operating Expenses **** 35 **** 3 31
Ordinary Income **** 9,165 **** 22,447 (13,281 )
Extraordinary Gain **** 61 **** 30 31
Extraordinary Loss **** 2,275 **** 972 1,303
Income before Income Taxes **** 6,952 **** 21,505 (14,552 )
Income Taxes:
Current **** (2,125 ) 423 (2,548 )
Deferred **** (7,225 ) 3,999 (11,225 )
Net Income ¥ 16,302 **** ¥ 17,081 ¥ (779 )

2-19

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