Mizuho Financial Group Inc 6-K, filed Aug 14, 2023

Mizuho Financial Group Inc (MFG)

6-K 2023-08-14 For: 2023-08-14

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Added on July 08, 2026

About this 6-K

Mizuho Financial Group Inc filed this 6-K on August 14, 2023.

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Date:		August 14, 2023

Mizuho Financial Group, Inc.

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


	*(Millions of yen)*
	As of March 31, 2023			As of June 30, 2023
Assets
Cash and Due from Banks		67,152,100			61,332,175
Call Loans and Bills Purchased		1,386,895			1,086,934
Receivables under Resale Agreements		11,693,419			14,195,893
Guarantee Deposits Paid under Securities Borrowing Transactions		1,897,429			1,714,426
Other Debt Purchased		3,836,735			3,904,318
Trading Assets		17,404,494			21,268,265
Money Held in Trust		514,607			568,865
Securities	1, 2	37,363,140		1, 2	44,086,569
Loans and Bills Discounted	*1	88,687,155		*1	91,463,813
Foreign Exchange Assets	*1	2,408,587		*1	2,417,603
Derivatives other than for Trading Assets		2,184,875			3,368,259
Other Assets	*1	8,689,547		*1	9,288,004
Tangible Fixed Assets		1,105,851			1,099,825
Intangible Fixed Assets		572,719			584,742
Net Defined Benefit Asset		859,271			820,729
Deferred Tax Assets		316,168			294,050
Customers’ Liabilities for Acceptances and Guarantees	*1	8,905,643		*1	9,312,235
Reserves for Possible Losses on Loans		(720,437	)		(669,098	)
Reserve for Possible Losses on Investments		(1	)		(1	)

Total Assets		254,258,203			266,137,612


	*(Millions of yen)*
	As of March 31, 2023			As of June 30, 2023
Liabilities
Deposits		150,498,976			146,526,777
Negotiable Certificates of Deposit		13,788,347			19,798,922
Call Money and Bills Sold		1,814,873			1,808,786
Payables under Repurchase Agreements		25,735,560			28,072,362
Guarantee Deposits Received under Securities Lending Transactions		757,842			859,552
Commercial Paper		1,782,111			1,636,507
Trading Liabilities		12,698,007			14,457,288
Borrowed Money		4,155,480			4,229,734
Foreign Exchange Liabilities		671,552			861,542
Short-term Bonds		477,141			458,646
Bonds and Notes		11,371,189			11,681,133
Due to Trust Accounts		1,534,097			1,114,199
Derivatives other than for Trading Liabilities		2,749,138			4,415,328
Other Liabilities		7,777,025			11,093,461
Reserve for Bonus Payments		126,694			38,887
Reserve for Variable Compensation		2,381			2,654
Net Defined Benefit Liability		68,429			67,965
Reserve for Director and Corporate Auditor Retirement Benefits		539			481
Reserve for Possible Losses on Sales of Loans		15,049			9,530
Reserve for Contingencies		13,706			22,997
Reserve for Reimbursement of Deposits		13,695			12,787
Reserve for Reimbursement of Debentures		7,798			6,973
Reserves under Special Laws		3,352			3,352
Deferred Tax Liabilities		22,391			24,086
Deferred Tax Liabilities for Revaluation Reserve for Land		58,711			58,061
Acceptances and Guarantees		8,905,643			9,312,235

Total Liabilities		245,049,740			256,574,260

Net Assets
Common Stock and Preferred Stock		2,256,767			2,256,767
Capital Surplus		1,129,267			1,129,267
Retained Earnings		5,093,911			5,230,926
Treasury Stock		(8,786	)		(8,110	)

Total Shareholders’ Equity		8,471,160			8,608,851

Net Unrealized Gains (Losses) on Other Securities		564,495			706,435
Deferred Gains or Losses on Hedges		(358,102	)		(376,699	)
Revaluation Reserve for Land		129,321			127,963
Foreign Currency Translation Adjustments		144,093			257,824
Remeasurements of Defined Benefit Plans		182,306			165,666
Own Credit Risk Adjustments, Net of Tax		19			(138	)

Total Accumulated Other Comprehensive Income		662,133			881,050

Stock Acquisition Rights		5			5
Non-controlling Interests		75,163			73,444

Total Net Assets		9,208,463			9,563,352

Total Liabilities and Net Assets		254,258,203			266,137,612


	*(Millions of yen)*
	For the three months ended June 30, 2022			For the three months ended June 30, 2023
Ordinary Income		1,235,090			1,858,873
Interest Income		444,862			1,293,614
Interest on Loans and Bills Discounted		275,979			664,178
Interest and Dividends on Securities		80,623			117,802
Fiduciary Income		14,299			14,728
Fee and Commission Income		200,034			221,014
Trading Income		355,522			118,292
Other Operating Income		180,144			111,762
Other Ordinary Income	*1	40,227		*1	99,461
Ordinary Expenses		1,030,852			1,564,676
Interest Expenses		191,616			1,075,918
Interest on Deposits		56,662			388,963
Fee and Commission Expenses		40,854			49,824
Trading Expenses		348,543			714
Other Operating Expenses		21,909			18,675
General and Administrative Expenses		350,591			384,670
Other Ordinary Expenses	*2	77,337		*2	34,871

Ordinary Profits		204,237			294,197

Extraordinary Gains	*3	3,580		*3	20,018
Extraordinary Losses	*4	463		*4	641

Income before Income Taxes		207,355			313,574

Income Taxes:
Current		64,411			68,068
Deferred		(18,875	)		(838	)

Total Income Taxes		45,535			67,230

Profit		161,819			246,344

Profit Attributable to Non-controlling Interests		2,525			1,151

Profit Attributable to Owners of Parent		159,294			245,192


Quarterly Consolidated Statement of Comprehensive Income

	*(Millions of yen)*
	For the three months ended June 30, 2022			For the three months ended June 30, 2023
Profit		161,819			246,344
Other Comprehensive Income		(228,652	)		220,912
Net Unrealized Gains (Losses) on Other Securities		(317,031	)		141,921
Deferred Gains or Losses on Hedges		(27,323	)		(18,111	)
Foreign Currency Translation Adjustments		115,854			110,977
Remeasurements of Defined Benefit Plans		(10,934	)		(16,483	)
Own Credit Risk Adjustments, Net of Tax		(16	)		(158	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		10,800			2,767

Comprehensive Income		(66,832	)		467,256

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		(70,274	)		465,468
Comprehensive Income Attributable to Non-controlling Interests		3,442			1,788


	*(Millions of yen)*
	As of March 31, 2023		As of June 30, 2023
Claims against Bankrupt and Substantially Bankrupt Obligors		43,866		42,599
Claims with Collection Risk		655,396		617,923
Claims for Special Attention		372,433		502,047
Loans Past Due for 3 Months or More		288		332
Restructured Loans		372,144		501,715
Sub-total		1,071,696		1,162,570
Normal Claims		100,457,014		103,623,853
Total		101,528,710		104,786,423


	*(Millions of yen)*
	For the three months ended June 30, 2022		For the three months ended June 30, 2023
Gains on Sales of Stocks		24,659		43,838
Reversal of Reserves for Possible Losses on Loans		—		35,894


(Note)				Cash dividends based on the resolution of the Board of Directors held on May 13, 2022 include ¥123 million of cash dividends on treasury stock held by BBT trust account.


	*(Millions of yen)*
	MHFG (Consolidated)
	RBC			CIBC		GCIBC		GMC		AMC		Others (Note 2)
Gross profits: (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others		154,410			108,852		150,732		147,580		13,907		17,685	593,166
General and administrative expenses (excluding Non-Recurring Losses and others)		155,381			52,177		71,411		61,429		8,298		9,862	358,558
Equity in income from investments in affiliates		(2,196	)		1,535		5,948		—		36		251	5,574
Amortization of goodwill and others		518			23		90		193		1,715		250	2,789
Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others		(3,685	)		58,187		85,179		85,958		3,930		7,823	237,392


(Notes)	1.	“Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others” is reported instead of sales reported by general corporations. Net gains or losses related to ETFs and others amounted to ¥1,227 million, of which ¥130 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.	Following the partial restructuring of in-house companies and the change in allocation method for transactions between each segment and “Others” made in April 2023, reclassification was made on the above table to reflect the relevant change.


*(Millions of yen)*
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Interest Rate Futures		133,198,056		105,460			105,460
Over-the-Counter	Interest Rate Swaps		1,632,369,585		(29,580	)		(29,580	)
Inter-Company or Internal Transactions	Interest Rate Swaps		15,675,207		409,412			409,412

Total			—		485,292			485,292


(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	Derivative transactions qualifying for hedge accounting under “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) and others are excluded from the above table.


(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	The following transactions are excluded from the above table:
		• Transactions qualifying for hedge accounting under “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) and others.
		• Transactions which are specified for certain financial assets and liabilities denominated in foreign currencies and reflected on the consolidated balance sheet.
		• Transactions denominated in foreign currencies which are eliminated in consolidation.


		For the three months ended June 30, 2022		For the three months ended June 30, 2023
(1) Net Income per Share of Common Stock	Yen		62.85		96.75
(The basis used for calculating Net Income per Share of Common Stock)
Profit Attributable to Owners of Parent	Millions of yen		159,294		245,192
Amount not attributable to Common Stock	Millions of yen		—		—
Profit Attributable to Owners of Parent related to Common Stock	Millions of yen		159,294		245,192
Average Outstanding Shares of Common Stock (during the period)	Thousands of shares		2,534,214		2,534,288

(2) Diluted Net Income per Share of Common Stock	Yen		62.85		96.74
(The basis used for calculating Diluted Net Income 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		52		60
Stock Acquisition Rights	Thousands of shares		52		60
Description of dilutive securities which were not included in the calculation of Diluted Net Income per Share of Common Stock as they have no dilutive effects and in which significant changes occurred after the end of the previous fiscal year			—		—


(Note)				In the calculation of Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock, MHFG shares outstanding in BBT trust account that were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted in the calculation of the Average Outstanding Shares of Common Stock during the period. The average number of such Treasury Stock shares deducted during the three months ended June 30, 2022 was 3,289 thousand, and the average number of such Treasury Stock shares deducted during the three months ended June 30, 2023 was 3,153 thousand.


Total amount of year-end cash dividends			¥107,882 million
Year-end cash dividends per share
Common Stock			¥42.50
Effective date and starting date of dividend payments			June 6, 2023