Mizuho Financial Group Inc 6-K, filed Nov 14, 2025

Mizuho Financial Group Inc (MFG)

6-K 2025-11-14 For: 2025-11-14

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Added on July 08, 2026

About this 6-K

Mizuho Financial Group Inc filed this 6-K on November 14, 2025.

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Date:		November 14, 2025

Mizuho Financial Group, Inc.

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


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:	Hikaru Osuga	General Manager of Accounting	Phone:	+81-3-6838-6101
Filing of Hanki Hokokusho (scheduled):		November 28, 2025	Trading Accounts:	Established
Commencement of Dividend Payment (scheduled):		December 5, 2025
Supplementary Materials on Quarterly Results:		Attached
IR Conference on Quarterly Results:		Scheduled


(%: Changes from the previous first half)
	Ordinary Income					Ordinary Profits				Profit Attributable to Owners of Parent
	¥ million		%			¥ million		%		¥ million		%
1H F2025		4,337,537		(5.4	)		849,626		13.7		689,947		21.8
1H F2024		4,585,215		8.0			747,079		30.1		566,141		36.1


	Earnings per Share of Common Stock		Diluted Earnings per Share of Common Stock
	¥		¥
1H F2025		276.20		276.20
1H F2024		223.35		223.35


	Total Assets		Total Net Assets		Own Capital Ratio
	¥ million		¥ million		%
1H F2025		288,757,081		11,076,007		3.8
Fiscal 2024		283,320,404		10,523,753		3.6


Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		November 14, 2025


	Annual Cash Dividends per Share
	First Quarter-end		Second Quarter-end		Third Quarter-end		Fiscal Year-end		Total
	¥		¥		¥		¥		¥
Fiscal 2024		—		65.00		—		75.00		140.00
Fiscal 2025		—		72.50
Fiscal 2025 (estimate)						—		72.50		145.00


	(%: Changes from the previous fiscal year)
		Profit Attributable to Owners of Parent				Earnings per Share of Common Stock
		¥ million		%		¥
Fiscal 2025			1,130,000		27.6		453.49


Notes:	1.	Revision of the latest announced earnings estimates for Fiscal 2025: Yes
		Following the result from 1H, MHFG revised Consolidated Earnings Estimates for Fiscal 2025 (for the fiscal year ending March 31, 2026).
		Profit Attributable to Owners of Parent: The latest announced estimates: ¥1,020,000 million, Revised estimates: ¥1,130,000 million, Changes from the original estimates: ¥110,000 million, 10.7%
	2.	The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares (excluding treasury stock and others) during the 1Q and 2Q, and the number of outstanding shares during the remainder of the relevant period (which is substituted with the number of outstanding shares (excluding treasury stock and others) as of September 30, 2025).


i. Period-end issued shares (including treasury stock):	As of September 30, 2025	2,489,848,594 shares	As of March 31, 2025	2,513,757,794 shares
ii. Period-end treasury stock:	As of September 30, 2025	4,339,630 shares	As of March 31, 2025	4,233,302 shares
iii. Average outstanding shares:	1st Half Fiscal 2025	2,497,975,963 shares	1st Half Fiscal 2024	2,534,759,156 shares


1. Interim Consolidated Financial Statements and Others			p.1-2
(1) Consolidated Balance Sheets			p.1-2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			p.1-4
(3) Consolidated Statements of Changes in Net Assets			p.1-6
(4) Note for Assumption of Going Concern			p.1-7
øSELECTED FINANCIAL INFORMATION For the Second Quarter (First Half) of Fiscal 2025


	*Millions of yen*
	As of March 31, 2025			As of September 30, 2025
Assets
Cash and Due from Banks	¥	72,483,086		¥	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		22,240,796			25,710,230
Money Held in Trust		632,025			755,149
Securities		34,307,574			38,395,250
Loans and Bills Discounted		94,108,757			94,264,066
Foreign Exchanges		2,237,879			2,291,125
Derivatives other than for Trading Assets		3,497,747			4,079,390
Other Assets		7,008,874			6,711,452
Tangible Fixed Assets		1,122,592			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		9,824,242			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


	*Millions of yen*
	For the six months ended September 30, 2024		For the six months ended September 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		208,950		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		877,168		966,147
Other Ordinary Expenses		105,401		61,891

Ordinary Profits		747,079		849,626

Extraordinary Gains		49,527		54,228
Extraordinary Losses		5,447		5,138

Profit before Income Taxes		791,158		898,716

Income Taxes:
Current		187,649		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


	*Millions of yen*
	Shareholders’ Equity
	Common Stock		Capital Surplus		Retained Earnings			Treasury Stock			Total Shareholders’ Equity
Balance as of the beginning of the period		2,256,767		1,129,730		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 Acquisition Rights		Non- Controlling Interests		Total Net Assets
	Net Unrealized Gains (Losses) on Other Securities		Deferred Gains or Losses on Hedges			Revaluation Reserve for Land			Foreign Currency Translation Adjustments		Remeasurements of Defined Benefit Plans			Own Credit Risk Adjustments, Net of Tax			Total Accumulated Other Comprehensive Income			Stock Acquisition Rights		Non- Controlling Interests		Total Net Assets
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


		*(Millions of yen)*
		First Half of Fiscal 2025						First Half of Fiscal 2024
					Change
Consolidated Gross Profits	1		1,629,070			108,371			1,520,698
Net Interest Income	2		652,680			169,823			482,856
Trust Fees	3		31,570			1,279			30,291
Credit Costs of Trust Accounts	4		—			—			—
Net Fee and Commission Income	5		467,387			64,601			402,786
Net Trading Income	6		423,220			(135,240	)		558,460
Net Other Operating Income	7		54,212			7,908			46,303
General and Administrative Expenses	8		(966,147	)		(88,978	)		(877,168	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Allowance for Loan Losses)	9		(16,954	)		(5,987	)		(10,966	)
Losses on Write-offs of Loans	10		*(14,221*	)		(6,269	)		(7,952	)
Gains on Reversal of Allowances for Loan Losses, and others	11		49,348			23,694			25,653
Net Gains (Losses) related to Stocks	12		130,448			50,492			79,955
Equity in Income from Investments in Affiliates	13		26,680			(1,091	)		27,771
Other	14		(2,819	)		16,045			(18,865	)

Ordinary Profits	15		849,626			102,547			747,079

Net Extraordinary Gains (Losses)	16		49,089			5,009			44,079
Profit before Income Taxes	17		898,716			107,557			791,158
Income Taxes - Current	18		(204,950	)		(17,300	)		(187,649	)
- Deferred	19		(1,187	)		34,296			(35,483	)
Profit	20		692,578			124,552			568,025
Profit Attributable to Non-controlling Interests	21		(2,630	)		(746	)		(1,884	)

Profit Attributable to Owners of Parent	22		689,947			123,806			566,141


Credit-related Costs (including Credit Costs of Trust Accounts)	23		32,394			17,707			14,686
* Credit-related Costs [23] = Expenses related to Portfolio Problems (including Reversal of (Provision for) General Allowance for Loan Losses) [9] + Gains on Reversal of Allowances for Loan Losses, and others [11] + Credit Costs of Trust Accounts [4]
(Reference)
Consolidated Net Business Profits	24		685,799			30,066			655,732
* Consolidated Net Business Profits [24] = Consolidated Gross Profits [1] - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments
Number of consolidated subsidiaries	25		253			27			226
Number of affiliates under the equity method	26		27			1			26


		*(Millions of yen)*
		First Half of Fiscal 2025												First Half of Fiscal 2024
		MHBK			MHTB			Aggregate Figures			Change
Gross Profits	1		922,041			58,902			980,943			53,081			927,861
Domestic Gross Profits	2		606,709			57,227			663,937			152,566			511,370
Net Interest Income	3		395,983			11,222			407,206			95,391			311,814
Trust Fees	4					31,758			31,758			1,242			30,516
Trust Fees for Jointly Operated Designated Money Trust	5					*1,744*			*1,744*			(112	)		1,857
Credit Costs of Trust Accounts ^(1)*	6					—			—			—			—
Net Fee and Commission Income	7		135,308			13,857			149,166			12,470			136,695
Net Trading Income	8		38,776						38,776			31,665			7,110
Net Other Operating Income	9		36,640			389			37,029			11,796			25,233
International Gross Profits	10		315,331			1,674			317,006			(99,484	)		416,491
Net Interest Income	11		245,397			1,544			246,941			55,260			191,680
Net Fee and Commission Income	12		62,283			132			62,415			4,122			58,293
Net Trading Income	13		66,180						66,180			(106,945	)		173,125
Net Other Operating Income	14		(58,528	)		(2	)		(58,531	)		(51,922	)		(6,608	)
General and Administrative Expenses (excluding Non-Recurring Losses)	15		(467,040	)		(41,262	)		(508,303	)		(22,029	)		(486,274	)
Expense Ratio	16		*50.6*	%		*70.0*	%		*51.8*	%		(0.5	%)		52.4	%
Personnel Expenses	17		(166,354	)		(21,596	)		(187,950	)		(3,398	)		(184,551	)
Non-Personnel Expenses	18		(270,901	)		(17,523	)		(288,425	)		(20,777	)		(267,647	)
Premium for Deposit Insurance	19		*(9,174*	)		*(226*	)		*(9,401*	)		(604	)		(8,796	)
Miscellaneous Taxes	20		(29,784	)		(2,142	)		(31,927	)		2,146			(34,074	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)	21		455,000			17,639			472,639			31,052			441,586
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas ^*(2)	22		476,797			17,478			494,275			120,989			373,286
Excluding Net Gains (Losses) from redemption of Investment Trusts	23		*462,532*			*17,478*			*480,011*			114,990			365,020

Reversal of (Provision for) General Allowance for Loan Losses	24		—			—			—			—			—

Net Business Profits	25		455,000			17,639			472,639			31,052			441,586
Net Gains (Losses) related to Bonds	26		*(21,797*	)		*161*			*(21,636*	)		(89,937	)		68,300

Net Non-Recurring Gains (Losses)	27		145,839			7,552			153,391			53,977			99,413
Net Gains (Losses) related to Stocks	28		124,107			5,406			129,513			54,207			75,306
Expenses related to Portfolio Problems	29		(16,259	)		(6	)		(16,266	)		(6,257	)		(10,009	)
Gains on Reversal of Allowances for Loan Losses, and others	30		46,469			516			46,985			22,471			24,514
Other	31		(8,478	)		1,636			(6,841	)		(16,443	)		9,601


		*(Millions of yen)*
		First Half of Fiscal 2025						First Half of Fiscal 2024
					Change
Gross Profits	1		922,041			48,097			873,944
Domestic Gross Profits	2		606,709			149,347			457,361
Net Interest Income	3		395,983			95,114			300,869
Net Fee and Commission Income	4		135,308			11,073			124,235
Net Trading Income	5		38,776			31,665			7,110
Net Other Operating Income	6		36,640			11,494			25,146
International Gross Profits	7		315,331			(101,250	)		416,582
Net Interest Income	8		245,397			53,729			191,667
Net Fee and Commission Income	9		62,283			3,880			58,403
Net Trading Income	10		66,180			(106,945	)		173,125
Net Other Operating Income	11		(58,528	)		(51,914	)		(6,614	)
General and Administrative Expenses (excluding Non-Recurring Losses)	12		(467,040)			(24,733)			(442,307)
Expense Ratio	13		*50.6*	%		0.0	%		50.6	%
Personnel Expenses	14		(166,354	)		(3,656	)		(162,698	)
Non-Personnel Expenses	15		(270,901	)		(23,485	)		(247,416	)
Premium for Deposit Insurance	16		(9,174	)		(635	)		(8,539	)
Miscellaneous Taxes	17		(29,784	)		2,408			(32,193	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)	18		455,000			23,363			431,636
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas *	19		476,797			113,463			363,334
Excluding Net Gains (Losses) from redemption of Investment Trusts	20		*462,532*			107,464			355,068

Reversal of (Provision for) General Allowance for Loan Losses	21		—			—			—

Net Business Profits	22		455,000			23,363			431,636
Net Gains (Losses) related to Bonds	23		*(21,797*	)		(90,099	)		68,302

Net Non-Recurring Gains (Losses)	24		145,839			59,998			85,840
Net Gains (Losses) related to Stocks	25		124,107			58,383			65,724
Expenses related to Portfolio Problems	26		(16,259	)		(6,250	)		(10,009	)
Gains on Reversal of Allowances for Loan Losses, and others	27		46,469			22,133			24,336
Other	28		(8,478	)		(14,267	)		5,788

Ordinary Profits	29		600,839			83,362			517,476

Net Extraordinary Gains (Losses)	30		38,092			(3,816	)		41,908


		*(Millions of yen)*
		First Half of Fiscal 2025						First Half of Fiscal 2024
					Change
Gross Profits	1		58,902			4,984			53,917
Domestic Gross Profits	2		57,227			3,219			54,008
Net Interest Income	3		11,222			277			10,945
Trust Fees	4		31,758			1,242			30,516
Trust Fees for Jointly Operated Designated Money Trust	5		*1,744*			(112	)		1,857
Credit Costs of Trust Accounts^(1)*	6		—			—			—
Net Fee and Commission Income	7		13,857			1,396			12,460
Net Other Operating Income	8		389			302			86
International Gross Profits	9		1,674			1,765			(91	)
Net Interest Income	10		1,544			1,531			13
Net Fee and Commission Income	11		132			242			(110	)
Net Other Operating Income	12		(2	)		(7	)		5
General and Administrative Expenses (excluding Non-Recurring Losses)	13		(41,262)			2,703			(43,966)
Expense Ratio	14		*70.0*	%		(11.4	%)		81.5	%
Personnel Expenses	15		(21,596	)		257			(21,853	)
Non-Personnel Expenses	16		(17,523	)		2,707			(20,231	)
Premium for Deposit Insurance	17		*(226*	)		30			(257	)
Miscellaneous Taxes	18		(2,142	)		(261	)		(1,881	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)	19		17,639			7,688			9,950
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas^*(2)	20		17,478			7,525			9,952
Excluding Net Gains (Losses) from redemption of Investment Trusts	21		*17,478*			7,525			9,952

Reversal of (Provision for) General Allowance for Loan Losses	22		—			—			—

Net Business Profits	23		17,639			7,688			9,950
Net Gains (Losses) related to Bonds	24		*161*			162			(1	)

Net Non-Recurring Gains (Losses)	25		7,552			(6,020	)		13,573
Net Gains (Losses) related to Stocks	26		5,406			(4,176	)		9,582
Expenses related to Portfolio Problems	27		(6	)		(6	)		—
Gains on Reversal of Allowances for Loan Losses, and others	28		516			338			178
Other	29		1,636			(2,175	)		3,812

Ordinary Profits	30		25,191			1,667			23,523


			(%)
			First Half of Fiscal 2025				First Half of Fiscal 2024
Mizuho Bank					Change

Return on Interest-Earning Assets		1		0.89		0.35		0.53
Return on Loans and Bills Discounted (1)		2		1.24		0.36		0.87
Return on Securities		3		1.16		0.50		0.65
Cost of Funding (including Expenses)		4		0.83		0.27		0.56
Cost of Deposits (including Expenses)		5		0.78		0.21		0.57
Cost of Deposits (2)		6		0.18		0.15		0.02
Cost of Other External Liabilities		7		0.74		0.33		0.41

Net Interest Margin	(1)-(4)	8		0.05		0.08		(0.02	)
Loan and Deposit Rate Margin (including Expenses)	(2)-(5)	9		0.45		0.15		0.30
Loan and Deposit Rate Margin	(2)-(6)	10		1.05		0.20		0.84

(1) Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).
(2) Deposits include Negotiable Certificates of Deposit (“NCDs”).

Reference: After excluding loans to the Japanese government and others
Return on Loans and Bills Discounted		11		1.27		0.37		0.90
Loan and Deposit Rate Margin (including Expenses)	(11)-(5)	12		0.48		0.15		0.32
Loan and Deposit Rate Margin	(11)-(6)	13		1.08		0.21		0.87

			(%)
			First Half of Fiscal 2025				First Half of Fiscal 2024
Mizuho Trust & Banking					Change

Return on Interest-Earning Assets		14		1.03		0.40		0.63
Return on Loans and Bills Discounted (1)		15		1.02		0.29		0.73
Return on Securities		16		3.54		0.00		3.54
Cost of Funding		17		0.50		0.33		0.16
Cost of Deposits (2)		18		0.23		0.18		0.04

Net Interest Margin	(14)-(17)	19		0.52		0.06		0.46
Loan and Deposit Rate Margin	(15)-(18)	20		0.78		0.10		0.68

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

Reference: After excluding loans to the Japanese government and others
Return on Loans and Bills Discounted		21		1.02		0.29		0.73
Loan and Deposit Rate Margin	(21)-(18)	22		0.78		0.10		0.68


Reference			(%)
			First Half of Fiscal 2025				First Half of Fiscal 2024
Aggregate Figures for the 2 Banks					Change

Return on Loans and Bills Discounted (1)		23		1.23		0.36		0.87
Cost of Deposits (2)		24		0.18		0.15		0.02

Loan and Deposit Rate Margin	(23)-(24)	25		1.04		0.20		0.84

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

Reference: After excluding loans to the Japanese government and others
Return on Loans and Bills Discounted		26		1.26		0.37		0.89
Loan and Deposit Rate Margin	(26)-(24)	27		1.07		0.21		0.86


	*(Millions of yen)*
	As of September 30, 2025									As of March 31, 2025
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	(= Fair Value)					Gains		Losses		(= Fair Value)					Gains		Losses
Other Securities		31,467,740		1,643,293			2,173,479		530,185		27,411,717		1,172,231			1,775,925		603,694
Japanese Stocks		2,850,413		2,075,790			2,078,128		2,337		2,516,624		1,713,916			1,719,812		5,896
Japanese Bonds		13,533,087		(109,885	)		7,401		117,286		11,193,302		(78,786	)		7,249		86,035
Japanese Government Bonds		*10,981,344*		*(46,358*	)		*533*		*46,891*		8,359,271		(18,664	)		64		18,728
Other		15,084,239		(322,611	)		87,949		410,561		13,701,790		(462,898	)		48,863		511,761
Foreign Bonds		*12,598,794*		*(319,218*	)		*26,036*		*345,254*		11,465,424		(386,209	)		15,035		401,245

Mizuho Bank
Other Securities		31,159,664		1,524,032			2,053,479		529,446		27,108,684		1,074,796			1,677,413		602,617
Japanese Stocks		2,684,216		1,956,168			1,958,242		2,073		2,370,411		1,616,347			1,621,572		5,225
Japanese Bonds		13,395,198		(109,566	)		7,326		116,893		11,040,790		(78,566	)		7,101		85,667
Japanese Government Bonds		*10,881,434*		*(46,352*	)		*533*		*46,885*		8,260,550		(18,643	)		64		18,707
Other		15,080,250		(322,569	)		87,910		410,479		13,697,483		(462,984	)		48,739		511,724
Foreign Bonds		*12,598,794*		*(319,218*	)		*26,036*		*345,254*		11,465,424		(386,209	)		15,035		401,245

Mizuho Trust & Banking
Other Securities		308,075		119,261			120,000		739		303,032		97,434			98,511		1,077
Japanese Stocks		166,197		119,621			119,885		263		146,213		97,568			98,239		671
Japanese Bonds		137,889		(318	)		74		393		152,511		(220	)		147		368
Japanese Government Bonds		*99,910*		(5	)		—		5		98,720		(21	)		—		21
Other		3,989		(42	)		39		81		4,307		86			123		37
Foreign Bonds		—		—			—		—		—		—			—		—


	*(Millions of yen)*
	As of September 30, 2025						As of March 31, 2025
	Unrealized Gains/Losses						Unrealized Gains/Losses
				Change			Unrealized Gains/Losses
Other Securities		1,688,697			478,346			1,210,350
Japanese Stocks		2,118,391			369,833			1,748,558
Japanese Bonds		(110,303	)		(30,649	)		(79,654	)
Japanese Government Bonds		*(46,358*	)		(27,693	)		(18,664	)
Other		(319,390	)		139,162			(458,553	)
Foreign Bonds		*(317,073*	)		65,003			(382,076	)


	*(Billions of yen)*
	Maturity as of September 30, 2025				Change												Maturity as of March 31, 2025
	Within 1 year	1 - 5 years	5 - 10 years	Over 10 years	Within 1 year			1 - 5 years			5 - 10 years			Over 10 years			Within 1 year	1 - 5 years	5 - 10 years	Over 10 years
Japanese Bonds	5,741.3	6,579.7	1,312.8	409.9		(1,098.3	)		3,130.6			326.5			13.6		6,839.6	3,449.0	986.3	396.3
Japanese Government Bonds	5,169.5	5,280.6	957.4	20.0		(982.6	)		3,226.5			387.9			20.0		6,152.2	2,054.1	569.5	—
Japanese Local Government Bonds	55.9	289.8	194.7	5.0		(5.8	)		38.3			(56.9	)		(2.5	)	61.8	251.4	251.6	7.5
Japanese Corporate Bonds	515.7	1,009.3	160.7	384.9		(109.7	)		(134.2	)		(4.3	)		(3.8	)	625.5	1,143.5	165.1	388.8
Other	5,078.9	4,106.5	1,546.1	7,215.0		2,096.1			(548.3	)		17.4			(206.2	)	2,982.8	4,654.8	1,528.7	7,421.2

Mizuho Bank

Japanese Bonds	5,638.4	6,544.4	1,312.7	409.9		(1,095.6	)		3,142.4			326.5			13.6		6,734.0	3,402.0	986.2	396.3
Japanese Government Bonds	5,069.5	5,280.6	957.4	20.0		(983.8	)		3,226.5			387.9			20.0		6,053.4	2,054.1	569.5	—
Japanese Local Government Bonds	55.9	289.8	194.7	5.0		(5.8	)		38.3			(56.9	)		(2.5	)	61.8	251.4	251.6	7.5
Japanese Corporate Bonds	512.8	974.0	160.6	384.9		(105.8	)		(122.4	)		(4.3	)		(3.8	)	618.7	1,096.4	165.0	388.8
Other	5,077.6	4,098.4	1,540.3	7,215.0		2,096.2			(548.6	)		13.7			(206.2	)	2,981.3	4,647.1	1,526.6	7,421.2

Mizuho Trust & Banking

Japanese Bonds	102.9	35.2	0.1	—		(2.7	)		(11.7	)		—			—		105.6	47.0	0.1	—
Japanese Government Bonds	100.0	—	—	—		1.2			—			—			—		98.8	—	—	—
Japanese Local Government Bonds	—	—	—	—		—			—			—			—		—	—	—	—
Japanese Corporate Bonds	2.9	35.2	0.1	—		(3.9	)		(11.7	)		—			—		6.8	47.0	0.1	—
Other	1.2	8.0	5.7	—		(0.1	)		0.3			3.6			—		1.4	7.7	2.0	—


		*(Millions of yen)*
		First Half of Fiscal 2025			Change			First Half of Fiscal 2024
Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		872,630			(79,024	)		951,654
Discount Rate (%)			0.79~2.88						0.14~2.08

Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		1,484,297			(166,320	)		1,650,618
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(162,800	)		122,397			(285,198	)
Prepaid Pension Cost/Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)	(B)+ (C) - (A)		448,866			35,101			413,764

Mizuho Bank

Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		763,041			(69,990	)		833,031
Discount Rate (%)			0.79~2.88						0.14~2.08

Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		1,274,208			(116,401	)		1,390,609
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(135,521	)		86,054			(221,576	)
Prepaid Pension Cost (at the beginning of the fiscal year)	(B)+ (C) - (A)		375,645			39,643			336,001

Mizuho Trust & Banking

Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		109,589			(9,034	)		118,623
Discount Rate (%)			0.79~2.88						0.14~2.08

Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		210,089			(49,919	)		260,008
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(27,279	)		36,342			(63,621	)
Prepaid Pension Cost/Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)	(B)+ (C) - (A)		73,221			(4,542	)		77,763


	*(Millions of yen)*
	As of September 30, 2025		Change			As of March 31, 2025
Claims against Bankrupt and Substantially Bankrupt Obligors		43,699		11,215			32,484
Claims with Collection Risk		318,516		(257,684	)		576,200
Claims for Special Attention		430,465		(8,160	)		438,626
Loans Past Due for 3 Months or More		584		313			271
Restructured Loans		429,881		(8,474	)		438,355
Sub-total[1]		792,681		(254,629	)		1,047,311
Normal Claims		107,911,422		1,481,261			106,430,161

Total[2]		108,704,104		1,226,631			107,477,473


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

Amount of Partial Direct Write-offs		319,626		223,676			95,949

	*(%)*
NPL ratio[1]/[2]		0.72		(0.24	)		0.97

Trust Account

	*(Millions of yen)*
	As of September 30, 2025		Change			As of March 31, 2025
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		1,085		(306	)		1,392

Total[4]		1,085		(306	)		1,392


	*(%)*
NPL ratio[3]/[4]		—		—			—


	*(Billions of yen)*
	As of September 30, 2025		Change			As of March 31, 2025

Coverage Amount		505.4		(252.2	)		757.6
Allowances for Loan Losses		242.3		(241.6	)		483.9
Collateral, Guarantees, and equivalent		263.1		(10.5	)		273.6

	*(%)*
Coverage Ratio		66.3		(7.9	)		74.3
Claims against Bankrupt and Substantially Bankrupt Obligors		100.0		—			100.0
Claims with Collection Risk		81.0		(9.4	)		90.4
Claims for Special Attention		52.9		1.3			51.6
Claims against Special Attention Obligors		*53.4*		1.7			51.7

Allowance Coverage Ratio against Non-collateralized Claims

	*(%)*
Claims against Bankrupt and Substantially Bankrupt Obligors		100.0		—			100.0
Claims with Collection Risk		69.4		(18.0	)		87.4
Claims for Special Attention		33.0		(0.1	)		33.2
Claims against Special Attention Obligors		*32.5*		0.2			32.2

Reference: Allowance Coverage Ratio

	*(%)*
Claims against Special Attention Obligors		22.43		(0.53	)		22.97
Claims against Watch Obligors excluding Special Attention Obligors		3.04		0.01			3.03
Claims against Normal Obligors		0.14		0.00			0.14

Mizuho Bank

	*(Billions of yen)*
Coverage Amount		499.4		(248.9	)		748.3
Allowances for Loan Losses		241.2		(240.7	)		482.0
Collateral, Guarantees, and equivalent		258.2		(8.1	)		266.3

	*(%)*
Coverage Ratio		66.5		(8.0	)		74.5
Claims against Bankrupt and Substantially Bankrupt Obligors		100.0		—			100.0
Claims with Collection Risk		80.7		(9.8	)		90.5
Claims for Special Attention		53.3		1.5			51.8
Claims against Special Attention Obligors		*53.8*		1.5			52.3

Allowance Coverage Ratio against Non-collateralized Claims

	*(%)*
Claims against Bankrupt and Substantially Bankrupt Obligors		100.0		—			100.0
Claims with Collection Risk		69.4		(18.2	)		87.7
Claims for Special Attention		33.3		(0.1	)		33.5
Claims against Special Attention Obligors		*32.8*		0.0			32.7

Reference: Allowance Coverage Ratio

	*(%)*
Claims against Special Attention Obligors		22.53		(0.68	)		23.22
Claims against Watch Obligors excluding Special Attention Obligors		3.02		(0.00	)		3.03
Claims against Normal Obligors		0.14		0.00			0.14


Notes:		Claims for Special Attention is denoted on an individual loans basis.
		Claims against Special Attention Obligors includes all claims, not limited to Claims for Special Attention.


	*(Billions of yen)*
	Fiscal 2022		Fiscal 2023		Fiscal 2024		Fiscal 2025
	As of March 31, 2023		As of March 31, 2024		As of March 31, 2025		As of September 30, 2025
							MHBK		MHTB*		Aggregate Figures for the 2 Banks		Change from March 31, 2025
Claims against Bankrupt and Substantially Bankrupt Obligors		34.0		15.9		9.3		18.2		0.0		18.3		8.9
Claims with Collection Risk		658.4		499.8		398.6		125.6		4.2		129.8		(268.7	)
Amount Categorized as above up to Fiscal 2022		692.5		515.7		408.0		143.9		4.2		148.2		(259.8	)
of which the amount which was in the process of being removed from the balance sheet		30.5		15.3		9.1		18.0		0.0		18.1		8.9
Claims against Bankrupt and Substantially Bankrupt Obligors				10.7		3.8		3.3		—		3.3		(0.5	)
Claims with Collection Risk				208.7		64.7		57.8		0.0		57.9		(6.8	)
Amount Newly Categorized as above during Fiscal 2023				219.5		68.5		61.1		0.0		61.2		(7.3	)
of which the amount which was in the process of being removed from the balance sheet				9.4		2.9		2.5		—		2.5		(0.4	)
Claims against Bankrupt and Substantially Bankrupt Obligors						9.0		3.8		—		3.8		(5.1	)
Claims with Collection Risk						105.9		67.9		0.0		67.9		(37.9	)
Amount Newly Categorized as above during Fiscal 2024						115.0		71.8		0.0		71.8		(43.1	)
of which the amount which was in the process of being removed from the balance sheet						5.8		3.4		—		3.4		(2.3	)
Claims against Bankrupt and Substantially Bankrupt Obligors								8.3		—		8.3		8.3
Claims with Collection Risk								51.8		0.0		51.9		51.9
Amount Newly Categorized as above during the First Half of Fiscal 2025								60.1		0.0		60.2		60.2
of which the amount which was in the process of being removed from the balance sheet								3.8		—		3.8		3.8
Claims against Bankrupt and Substantially Bankrupt Obligors		34.0		26.6		22.2		33.7		0.0		33.8		11.5
Claims with Collection Risk		658.4		708.6		569.3		303.3		4.3		307.7		(261.6	)
Total		692.5		735.3		591.6		337.1		4.3		341.5		(250.0	)
of which the amount which was in the process of being removed from the balance sheet		30.5		24.7		17.9		27.9		0.0		28.0		10.0


* Trust account represents trust accounts that guarantee principals in the agreement.
*				denotes newly categorized amounts.


	*(Billions of yen)*
	Aggregate Figures for the 2 Banks (Banking Account + Trust Account)			MHBK			MHTB (Banking Account + Trust Account)
Liquidation		(1.0	)		(1.0	)		—
Restructuring		(1.3	)		(1.3	)		—
Improvement in Business Performance due to Restructuring		—			—			—
Loan Sales		(12.1	)		(9.6	)		(2.4	)
Direct Write-off		(222.7	)		(222.7	)		0.0
Other		(73.0	)		(72.2	)		(0.8	)
Debt recovery		(27.9	)		(27.2	)		(0.6	)
Improvement in Business Performance		(45.1	)		(44.9	)		(0.1	)

Total		(310.3	)		(307.0	)		(3.3	)


As of September 30, 2025: ¥265.0 billion (from MHBK)
As of March 31, 2025: ¥530.0 billion (from MHBK)


	*(Billions of yen, %)*
	As of September 30, 2025										As of March 31, 2025
	Non Performing Loans based on the BA and the FRA		Coverage Ratio		Change						Non Performing Loans based on the BA and the FRA		Coverage Ratio
			Coverage Ratio		Non Performing Loans based on the BA and the FRA			Coverage Ratio					Coverage Ratio
Domestic Total (excluding Loans Booked Offshore)		690.2		65.0		(247.9	)		(8.7	)		938.2		73.8
Manufacturing		364.9		63.3		(245.3	)		(12.8	)		610.3		76.2
Agriculture & Forestry		7.7		85.5		4.4			9.2			3.2		76.3
Fishery		—		—		—			—			—		—
Mining, Quarrying Industry & Gravel Extraction Industry		0.0		100.0		0.0			—			—		—
Construction		3.2		77.8		0.1			(4.3	)		3.0		82.1
Utilities		3.8		63.9		2.7			(4.8	)		1.0		68.7
Communication		12.8		55.7		1.1			(3.6	)		11.7		59.3
Transportation & Postal Industry		8.3		77.8		(3.4	)		0.4			11.8		77.4
Wholesale & Retail		119.3		54.2		8.1			(1.7	)		111.2		55.9
Finance & Insurance		12.8		51.8		(1.0	)		(3.0	)		13.9		54.8
Real Estate		22.2		84.8		(4.0	)		(2.0	)		26.3		86.8
Commodity Lease		0.2		72.3		(0.0	)		0.8			0.2		71.5
Service Industries		86.5		63.6		(8.7	)		(3.5	)		95.2		67.2
Local Governments		—		—		—			—			—		—
Other		47.8		97.4		(1.9	)		0.3			49.8		97.1
Overseas Total (including Loans Booked Offshore)		70.9		79.6		(9.3	)		(1.2	)		80.3		80.8
Governments		—		—		—			—			—		—
Financial Institutions		—		—		—			—			—		—
Other		70.9		79.6		(9.3	)		(1.2	)		80.3		80.8

Total		761.2		66.3		(257.3	)		(7.9	)		1,018.5		74.3


		*(Billions of yen)*
		Total amount for five years (from October 1, 2025 to September 30, 2030)
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)	1		4,644.4
Profit before Income Taxes	2		5,172.7
Tax Adjustments ⁽¹⁾	3		931.2
Taxable Income before Current Deductible Temporary Differences ⁽²⁾	4		6,103.9
Effective Statutory Tax Rate	5		30.62% / 31.52%
Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [ 4 x 5 ]	6		1,918.3


Reference: Past results of taxable income (tax loss)
	*(Billions of yen)*
Fiscal 2021		360.3
Fiscal 2022		157.7
Fiscal 2023		406.1
Fiscal 2024		796.7
First Half of Fiscal 2025 (estimate)		558.8


		*(Billions of yen)*
		Total amount for five years (from October 1, 2025 to September 30, 2030)
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)	1		200.5
Profit before Income Taxes	2		312.1
Tax Adjustments ⁽¹⁾	3		(20.5	)
Taxable Income before Current Deductible Temporary Differences ⁽²⁾	4		292.7
Effective Statutory Tax Rate	5		30.62%/31.52%
Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [ 4 x 5 ]	6		91.7


	*Millions of yen*
	As of September 30, 2025 (A)			As of March 31, 2025 (B)			Change (A) - (B)
Assets
Cash and Due from Banks	¥	64,154,219		¥	69,747,184		¥	(5,592,965	)
Call Loans		259,519			249,360			10,159
Receivables under Resale Agreements		9,905,076			10,023,199			(118,123	)
Guarantee Deposits Paid under Securities Borrowing Transactions		128,778			127,638			1,139
Monetary Claims Bought		564,771			493,032			71,738
Trading Assets		8,646,390			7,782,207			864,182
Money Held in Trust		505			505			0
Securities		38,571,446			34,405,103			4,166,342
Loans and Bills Discounted		91,720,807			91,615,228			105,578
Foreign Exchanges		2,154,470			2,042,083			112,387
Derivatives other than for Trading Assets		6,180,588			6,066,571			114,017
Other Assets		5,329,732			5,558,146			(228,413	)
Tangible Fixed Assets		855,321			855,824			(502	)
Intangible Fixed Assets		531,992			505,728			26,264
Prepaid Pension Cost		297,317			375,645			(78,327	)
Deferred Tax Assets		188,528			276,640			(88,112	)
Customers’ Liabilities for Acceptances and Guarantees		12,370,944			11,573,662			797,282
Allowances for Loan Losses		(458,473	)		(719,269	)		260,796
Allowance for Investment Losses		—			(2	)		2

Total Assets	¥	241,401,937		¥	240,978,492		¥	423,445

Liabilities
Deposits	¥	154,828,114		¥	153,047,861		¥	1,780,253
Negotiable Certificates of Deposit		13,722,701			14,052,123			(329,422	)
Call Money		2,323,253			2,169,376			153,876
Payables under Repurchase Agreements		14,646,838			19,411,662			(4,764,824	)
Guarantee Deposits Received under Securities Lending Transactions		605,928			356,931			248,996
Commercial Paper		2,245,275			2,138,133			107,142
Trading Liabilities		5,522,776			5,646,893			(124,116	)
Borrowed Money		14,269,622			12,955,564			1,314,058
Foreign Exchanges		1,533,921			1,061,680			472,240
Bonds and Notes		693,778			407,973			285,805
Derivatives other than for Trading Liabilities		7,332,522			7,147,566			184,955
Other Liabilities		4,261,301			4,115,826			145,475
Reserve for Bonus Payments		38,341			54,510			(16,169	)
Reserve for Variable Compensation		375			587			(212	)
Reserve for Possible Losses on Sales of Loans		40			1,266			(1,225	)
Reserve for Contingencies		10,299			8,616			1,683
Reserve for Reimbursement of Deposits		5,851			6,814			(962	)
Reserve for Reimbursement of Debentures		16,039			19,965			(3,925	)
Deferred Tax Liabilities for Revaluation Reserve for Land		45,281			47,059			(1,777	)
Acceptances and Guarantees		12,370,944			11,573,662			797,282

Total Liabilities		234,473,209			234,224,077			249,131

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		2,705,543			2,715,665			(10,121	)
Appropriated Reserve		724,535			624,534			100,000
Other Retained Earnings		1,981,008			2,091,130			(110,122	)
Retained Earnings Brought Forward		1,981,008			2,091,130			(110,122	)

Total Shareholders’ Equity		6,369,001			6,379,123			(10,121	)

Net Unrealized Gains (Losses) on Other Securities, net of Taxes		1,067,229			752,993			314,236
Net Deferred Hedge Gains (Losses), net of Taxes		(602,326	)		(476,383	)		(125,942	)
Revaluation Reserve for Land, net of Taxes		94,823			98,682			(3,859	)

Total Valuation and Translation Adjustments		559,726			375,291			184,434

Total Net Assets		6,928,728			6,754,415			174,313

Total Liabilities and Net Assets	¥	241,401,937		¥	240,978,492		¥	423,445


	*Millions of yen*
	For the six months ended September 30, 2025 (A)		For the six months ended September 30, 2024 (B)			Change (A) - (B)
Ordinary Income	¥	3,109,884	¥	3,273,841		¥	(163,956	)
Interest Income		2,370,481		2,490,924			(120,442	)
Interest on Loans and Bills Discounted		*1,233,123*		1,276,139			(43,016	)
Interest and Dividends on Securities		*424,095*		406,426			17,668
Fee and Commission Income		341,193		312,172			29,021
Trading Income		106,354		180,267			(73,912	)
Other Operating Income		93,085		129,072			(35,986	)
Other Ordinary Income		198,768		161,405			37,363

Ordinary Expenses		2,509,045		2,756,364			(247,319	)
Interest Expenses		1,729,101		1,998,387			(269,285	)
Interest on Deposits		*771,573*		840,978			(69,405	)
Fee and Commission Expenses		143,601		129,533			14,067
Trading Expenses		1,397		31			1,366
Other Operating Expenses		114,974		110,539			4,434
General and Administrative Expenses		461,898		429,260			32,637
Other Ordinary Expenses		58,071		88,612			(30,540	)

Ordinary Profits		600,839		517,476			83,362

Extraordinary Gains		42,551		45,924			(3,372	)

Extraordinary Losses		4,459		4,015			443

Profit before Income Taxes		638,931		559,384			79,546
Income Taxes:
Current		151,239		184,336			(33,096	)
Deferred		1,668		(25,648	)		27,316

Profit	¥	486,023	¥	400,696		¥	85,326