MFG 6-K 2026 - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF MIZUHO FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-282497) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Date: May 15, 2026
Mizuho Financial Group, Inc.
By:	/s/ Makoto Samejima
Name:	Makoto Samejima
Title:	Senior Managing Corporate Executive / Group CFO

For Immediate Release:

	Consolidated Financial Statements for Fiscal 2025<br><br><br>(Under Japanese GAAP)
Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		May 15, 2026
---	---	---	---	---
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
Ordinary General Meeting of Shareholders (scheduled) :	June 26, 2026	Commencement of Dividend Payment (scheduled): June 8, 2026
---	---	---
Filing of Yuka Shoken Hokokusho to<br><br><br>the Kanto Local Finance Bureau (scheduled):	June 19, 2026	Trading Accounts: Established
Supplementary Materials on Annual Results:	Attached
IR Conference on Annual Results:	Scheduled
Amounts less than one million yen are rounded down.

1. Financial Highlights for Fiscal 2025 (for the fiscal year ended March 31, 2026)

(1) Consolidated Results of Operations

(%: Changes from the previous fiscal year)
	Ordinary Income				Ordinary Profits			Profit Attributableto Owners ofParent
	million		%		million	%		million	%
Fiscal 2025		9,085,438		0.6		1,573,159	34.6			1,248,632	41.0
Fiscal 2024		9,030,374		3.2		1,168,141	27.7			885,433	30.4

All values are in Japanese Yen.

Note:		Comprehensive Income:<br> <br>Fiscal 2025:<br>¥1,651,210 million, 167.1 %; Fiscal 2024: ¥618,184 million, (54.0)%
		Earningsper Share ofCommon Stock		Diluted Earningsper Share ofCommon Stock		Earningson Own Capital			Ordinary Profitsto Total Assets			Ordinary Profitsto Ordinary Income
---	---	---	---	---	---	---	---	---	---	---	---	---	---
						%			%			%
Fiscal 2025			502.92			502.92			11.4			0.5		17.3
Fiscal 2024			350.20			350.20			8.5			0.4		12.9

All values are in Japanese Yen.

Reference:		Equity in Income from Investments in Affiliates:<br><br><br>Fiscal 2025: ¥52,266 million; Fiscal 2024: ¥46,782 million

(2) Consolidated Financial Conditions

	Total Assets		Total Net Assets	Own Capital Ratio	Total Net Assetsper Share ofCommon Stock
	million		million	%
Fiscal 2025		302,240,042		11,403,890	3.7	4,640.23
Fiscal 2024		283,320,404		10,523,753	3.6	4,161.03

All values are in Japanese Yen.

Reference:		Own Capital:<br><br><br>As of March 31, 2026: ¥11,315,320 million; As of March 31, 2025:<br>¥10,442,211 million
Note:		Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Non-controlling Interests) / Total Assets × 100
---	---	---
		Own Capital Ratio stated above is not calculated based on the public notice of Own Capital<br>Ratio.

(3) Conditions of Consolidated Cash Flows

	Cash Flows fromOperating Activities		Cash Flows fromInvesting Activities	Cash Flows fromFinancing Activities		Cash and Cash Equivalentsat the end of the fiscal year
	million		million	million		million
Fiscal 2025		(4,838,533	)	(6,668,376	)		(523,153	)	59,677,580
Fiscal 2024		(3,820,800	)	3,793,092			(299,030	)	70,723,361

All values are in Japanese Yen.

2. Cash Dividends for Shareholders of Common Stock

	Annual Cash Dividends per Share											Dividends Pay-outRatio(Consolidated basis)	Dividends on NetAssets(Consolidated basis)
	Firstquarter-end		Secondquarter-end	Thirdquarter-end	Fiscalyear-end		Annual
								million	%		%
Fiscal 2024		—		65.00		—		75.00		140.00		353,456	39.9	3.4
Fiscal 2025		—		72.50		—		72.50		145.00		357,484	28.8	3.2
Fiscal 2026 (estimate)		—		75.00		—		75.00		150.00			28.1

All values are in Japanese Yen.

3. Consolidated Earnings Estimates for Fiscal 2026 (for the fiscal year ending March 31, 2027)

(%: Changes from the corresponding period of the previous fiscal year)
	Profit Attributableto Owners ofParent				Earningsper Share ofCommon Stock
	million		%
1H F2026		—		—		—
Fiscal 2026		1,300,000		4.1		533.10

All values are in Japanese Yen.

Note:	The number of shares of common stock used in the above calculation is based on the number of outstanding shares of common stock (excluding treasury stock and others) as of March 31, 2026.

Notes

(1) Significant changes in the scope of consolidation during the period: No ****

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

i. Changes in accounting policies due to revisions of accounting standards: No

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

iii. Changes in accounting estimates: No

iv. Restatements: No

(3) Issued Shares ofCommon Stock

i. Year-end issued shares<br><br><br>(including treasury stock):	As of March 31, 2026	2,489,848,594 shares	As of March 31, 2025	2,513,757,794 shares
ii. Year-end treasury stock:	As of March 31, 2026	51,325,298 shares	As of March 31, 2025	4,233,302 shares
iii. Average number of outstanding shares:	Fiscal 2025	2,482,716,178 shares	Fiscal 2024	2,528,302,462 shares

This immediate release is outside the scope of the audit by certified public accountants or an audit firm.

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 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.

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 geopolitical disruptions; intensification of competition in the market for financial services;incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes relatedto 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 financialtransactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm;our ability to implement our medium-term business plan, and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economicconditions in Japan and elsewhere; changes to applicable laws and regulations; and the effects of climate change.

Further information regardingfactors that could affect our financial condition and results of operations is included in “Item 3. D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 29, 2025, both of which areavailable in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

We donot intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may berequired by the rules of the Tokyo Stock Exchange.

Mizuho Financial Group, Inc.

m Contents of Attachment

1.	Overview of Consolidated Results of Operations and Financial Condition	p.1-2
	(1) Overview of Results of Operations	p.1-2
	(2) Overview of Financial Condition	p.1-2
	(3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2025 and Dividend Estimates for Fiscal 2026	p.1-2
2.	Basic Stance on Selection of Accounting Standards	p.1-4
3.	Consolidated Financial Statements and Notes	p.1-5
	(1) Consolidated Balance Sheets	p.1-5
	(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	p.1-7
	(3) Consolidated Statements of Changes in Net Assets	p.1-10
	(4) Consolidated Statements of Cash Flows	p.1-12
	(5) Notes regarding Consolidated Financial Statements	p.1-14
	(Matters Related to the Assumption of Going Concern)
	(Business Segment Information)
	(Per Share Information)
	(Subsequent Events)

Note to XBRL

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

An MHFG IR conference for institutional investors and analysts is scheduled for Tuesday, May 19, 2026. The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group website immediately after the conference.

1-1

Mizuho Financial Group, Inc.

1. Overview of Consolidated Results of Operations and Financial Condition

(1) Overview of Results of Operations

We recorded Consolidated Gross Profits of ¥3,477.2 billion for fiscal 2025, increasing by ¥556.8 billion from the previous fiscal year mainly due to the strong growth in Fee business both in and outside Japan as well as external factors such as Yen depreciation, and the higher Bank of Japan’s policy interest rate.

General and Administrative Expenses increased by ¥262.7 billion on a year-on-year basis to ¥2,103.4 billion mainly due to the unavoidable increases from Yen depreciation and inflation as well as the resource deployment to growth areas and governance-related costs to enhance our management base, offset in part by our maintaining appropriate control on expenses.

As a result, Consolidated Net Business Profits increased by ¥323.8 billion on a year-on-year basis to ¥1,422.7 billion.

Consolidated Net Business Profits + Net Gains (Losses) related to ETFs and others, which consists of Consolidated Net Business Profits, Net Gains (Losses) related to ETFs and others on a non-consolidated aggregated basis of the banks, and Net Gains (Losses) related to operating investment securities on a consolidated basis of Mizuho Securities Co., Ltd., increased by ¥316.8 billion on a year-on-year basis to ¥1,461.1 billion.

Credit-related Costs increased by ¥81.4 billion on a year-on-year basis to ¥133.0 billion mainly due to the costs for specific companies in and outside Japan as well as the provision of reserves from a forward-looking perspective, considering uncertainty in business environment, such as Middle East conflict.

Net Gains (Losses) related to Stocks increased by ¥183.9 billion on a year-on-year basis to net gains of ¥325.1 billion mainly due to the increase in profits from the sale of cross-holding stocks.

As a result, Ordinary Profits increased by ¥405.0 billion on a year-on-year basis to ¥1,573.1 billion.

Extraordinary Gains (Losses) increased by ¥27.1 billion on a year-on-year basis to net gains of ¥49.1 billion mainly due to the recognition of gains on the cancellation of employee retirement benefit trust.

Tax-related Expenses increased by ¥66.7 billion on a year-on-year basis to ¥368.1 billion.

As a result, Profit Attributable to Owners of Parent for fiscal 2025 increased by ¥363.1 billion on a year-on-year basis to ¥1,248.6 billion.

As for earnings estimates for fiscal 2026, we estimate Profit Attributable to Owners of Parent of ¥1,300.0 billion on a consolidated basis.

We will disclose promptly if we need to revise the above consolidated earnings estimates in accordance with Tokyo Stock Exchange rules.

(2) Overview of Financial Condition

Consolidated Total Assets as of March 31, 2026 amounted to ¥302,240.0 billion, increasing by ¥18,919.6 billion from the end of the previous fiscal year mainly due to an increase in Securities.

Securities amounted to ¥42,632.5 billion, increasing by ¥8,324.9 billion from the end of the previous fiscal year. Loans and Bills Discounted amounted to ¥99,753.1 billion, increasing by ¥5,644.4 billion from the end of the previous fiscal year. Deposits and Negotiable Certificates of Deposit amounted to ¥177,851.6 billion, increasing by ¥4,706.0 billion from the end of the previous fiscal year.

Net Assets amounted to ¥11,403.8 billion, increasing by ¥880.1 billion from the end of the previous fiscal year. Shareholders’ Equity was ¥9,906.1 billion, Accumulated Other Comprehensive Income was ¥1,409.1 billion, and Non-controlling Interests was ¥87.3 billion.

Net Cash Used in Operating Activities was ¥4,838.5 billion mainly due to increased Trading Assets. Net Cash Used in Investing Activities was ¥6,668.3 billion mainly due to the purchase, sale and redemption of securities, and Net Cash Used in Financing Activities was ¥523.1 billion mainly due to the redemption of subordinated bonds.

As a result, Cash and Cash Equivalents as of March 31, 2026 was ¥59,677.5 billion.

(3) Basic Policy on Profit Distribution, Dividend Payment for Fiscal 2025 and Dividend Estimates for Fiscal 2026

Based on our capital management policy of pursuing the optimal balance between capital adequacy, growth investment and enhancement of shareholder return, for Fiscal 2025, we maintain our shareholder return policy of keeping progressive increase of dividends per share, while executing flexible and intermittent share buybacks. In addition, we will increase dividends per share by approximately ¥5.0 each fiscal year, based on the steady growth of our stable earnings base. We will decide share buybacks, based on our business results, capital adequacy, our stock price and the opportunities for growth investment, using the total payout ratio of 50% or more as a guide.

1-2

Mizuho Financial Group, Inc.

Based on this policy, at the meeting of the Board of Directors held today, we have decided to issue ¥72.5 of year-end cash dividends on common stock for Fiscal 2025 (annual cash dividends of ¥145.0 including interim dividends of ¥72.5), based on Profit Attributable to Owners of Parent for Fiscal 2025 of ¥1,248 billion.

Consolidated Common Equity Tier 1 capital ratio (Basel III finalization basis, excluding Net Unrealized Gains (Losses) on Other Securities) was 9.9%, thus again fulfilling the lower end of the 9-10% range that we consider as the necessary level.

Year-end cash dividends on Common Stock		¥72.5 per share
Annual cash dividends incl. interim dividends		¥145.0 per share

We note that, in accordance with the Articles of Incorporation, we are able to decide to issue dividends by resolution of the Board of Directors unless otherwise stipulated by laws and regulations.

As for the dividend estimates of common stock for Fiscal 2026, we predict ¥150.0 per share of common stock, which is an increase of ¥5.0 from Fiscal 2025. We intend to continue payments of cash dividends at the interim period to return profits to our shareholders in a timely manner.

(Dividend Estimates for Fiscal 2026)

Common Stock		Cash Dividends per Share of which Interim and Year-end Dividends		¥150.0<br> <br>(Increase of ¥5.0 from Fiscal<br>2025)<br>¥75.0 each

1-3

Mizuho Financial Group, Inc.

2. Basic Stance on Selection of Accounting Standards

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

1-4

Mizuho Financial Group, Inc.

3. Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheets

	(Millions of yen)
	As of<br>March 31,<br>2025			As of<br>March 31,<br>2026
Assets
Cash and Due from Banks	¥	72,483,086		¥	61,567,751
Call Loans and Bills Bought		688,473			904,328
Receivables under Resale Agreements		28,107,374			30,571,427
Guarantee Deposits Paid under Securities Borrowing Transactions		2,078,999			1,771,938
Monetary Claims Bought		3,932,427			4,162,850
Trading Assets		22,240,796			30,477,937
Money Held in Trust		632,025			622,709
Securities		34,307,574			42,632,517
Loans and Bills Discounted		94,108,757			99,753,193
Foreign Exchanges		2,237,879			2,754,033
Derivatives other than for Trading Assets		3,497,747			6,187,816
Other Assets		7,008,874			7,202,972
Tangible Fixed Assets		1,122,592			1,137,346
Buildings		332,093			359,021
Land		570,345			560,025
Lease Assets		20,968			18,244
Construction in Progress		61,297			43,727
Other Tangible Fixed Assets		137,887			156,327
Intangible Fixed Assets		808,897			882,257
Software		453,171			518,250
Goodwill		108,029			140,127
Lease Assets		11,419			10,217
Other Intangible Fixed Assets		236,277			213,662
Net Defined Benefit Asset		758,783			776,413
Deferred Tax Assets		237,630			238,473
Customers’ Liabilities for Acceptances and Guarantees		9,824,242			11,233,375
Allowance for Loan Losses		(755,751	)		(637,302	)
Allowance for Investment Losses		(5	)		—

Total Assets	¥	283,320,404		¥	302,240,042

1-5

Mizuho Financial Group, Inc.

	(Millions of yen)
	As of<br>March 31,<br>2025			As of<br>March 31,<br>2026
Liabilities
Deposits	¥	158,746,762		¥	165,937,062
Negotiable Certificates of Deposit		14,398,784			11,914,568
Call Money and Bills Sold		2,745,165			3,191,543
Payables under Repurchase Agreements		38,393,650			37,731,778
Guarantee Deposits Received under Securities Lending Transactions		1,604,389			1,968,469
Commercial Paper		2,138,133			1,921,799
Trading Liabilities		14,290,572			19,146,460
Borrowed Money		4,008,514			5,098,065
Foreign Exchanges		840,486			1,188,938
Short-term Bonds		724,118			524,540
Bonds and Notes		12,877,794			15,444,980
Due to Trust Accounts		950,946			687,707
Derivatives other than for Trading Liabilities		4,566,669			7,657,456
Other Liabilities		6,267,822			6,737,864
Reserve for Bonus Payments		224,246			259,620
Reserve for Variable Compensation		2,226			2,880
Net Defined Benefit Liability		68,259			72,664
Reserve for Director and Corporate Auditor Retirement Benefits		484			403
Reserve for Possible Losses on Sales of Loans		1,266			6,707
Reserve for Contingencies		22,542			15,789
Reserve for Reimbursement of Deposits		7,146			4,936
Reserve for Reimbursement of Debentures		19,965			6,850
Reserves under Special Laws		4,247			5,386
Deferred Tax Liabilities		21,155			31,222
Deferred Tax Liabilities for Revaluation Reserve for Land		47,059			45,074
Acceptances and Guarantees		9,824,242			11,233,375

Total Liabilities	¥	272,796,651		¥	290,836,151

Net Assets
Common Stock	¥	2,256,767		¥	2,256,767
Capital Surplus		1,129,730			1,129,730
Retained Earnings		6,046,578			6,831,168
Treasury Stock		(9,462	)		(311,529	)

Total Shareholders’ Equity		9,423,614			9,906,137

Net Unrealized Gains (Losses) on Other Securities		867,697			1,314,449
Deferred Gains (Losses) on Hedges		(465,204	)		(855,219	)
Revaluation Reserve for Land		98,680			94,371
Foreign Currency Translation Adjustments		398,783			630,802
Remeasurements of Defined Benefit Plans		119,654			225,704
Own Credit Risk Adjustments, Net of Tax		(1,014	)		(925	)

Total Accumulated Other Comprehensive Income		1,018,596			1,409,182

Stock Acquisition Rights		5			1,208
Non-controlling Interests		81,536			87,361

Total Net Assets		10,523,753			11,403,890

Total Liabilities and Net Assets	¥	283,320,404		¥	302,240,042

1-6

Mizuho Financial Group, Inc.

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

Consolidated Statements of Income

	(Millions of yen)
	For the fiscalyear endedMarch 31, 2025		For the fiscalyear endedMarch 31, 2026
Ordinary Income	¥	9,030,374	¥	9,085,438
Interest Income		6,000,202		5,851,595
Interest on Loans and Bills Discounted		2,739,320		2,785,659
Interest and Dividends on Securities		861,082		929,657
Interest on Call Loans and Bills Bought		20,981		18,125
Interest on Receivables under Resale Agreements		801,353		788,222
Interest on Securities Borrowing Transactions		53,453		46,643
Interest on Due from Banks		951,617		887,638
Other Interest Income		572,394		395,649
Trust Fees		62,288		67,001
Fee and Commission Income		1,115,433		1,311,948
Trading Income		1,047,459		898,858
Other Operating Income		394,573		430,498
Other Ordinary Income		410,417		525,536
Recovery of Written-off Claims		10,698		6,265
Other		399,718		519,270
Ordinary Expenses		7,862,233		7,512,278
Interest Expenses		4,954,945		4,474,506
Interest on Deposits		1,690,300		1,677,004
Interest on Negotiable Certificates of Deposit		494,833		494,445
Interest on Call Money and Bills Sold		16,426		24,972
Interest on Payables under Repurchase Agreements		1,843,925		1,381,046
Interest on Securities Lending Transactions		39,037		37,451
Interest on Commercial Paper		65,808		96,394
Interest on Borrowed Money		60,493		55,561
Interest on Short-term Bonds		2,299		6,905
Interest on Bonds and Notes		404,367		443,047
Other Interest Expenses		337,452		257,676
Fee and Commission Expenses		208,639		231,530
Trading Expenses		—		3,947
Other Operating Expenses		535,969		372,617
General and Administrative Expenses		1,840,702		2,103,458
Other Ordinary Expenses		321,975		326,218
Provision for Allowance for Loan Losses		36,164		105,597
Other		285,811		220,620

Ordinary Profits	¥	1,168,141	¥	1,573,159

1-7

Mizuho Financial Group, Inc.

	(Millions of yen)
	For the fiscalyear endedMarch 31, 2025			For the fiscalyear endedMarch 31, 2026
Extraordinary Gains	¥	58,371		¥	93,838
Gains on Disposition of Fixed Assets		36,367			12,062
Gains on Cancellation of Employee Retirement Benefit Trust		12,396			69,762
Gains on Sales of Shares of Affiliates		—			8,849
Accumulation (Amortization) of Unrecognized Prior Service Cost		9,015			—
Other Extraordinary Gains		592			3,163
Extraordinary Losses		36,428			44,712
Losses on Disposition of Fixed Assets		12,692			18,601
Losses on Impairment of Fixed Assets		23,270			24,971
Other Extraordinary Losses		465			1,139

Profit before Income Taxes		1,190,084			1,622,285

Income Taxes:
Current		308,588			453,785
Refund of Income Taxes		(7,062	)		(20,383	)
Deferred		(108	)		(65,275	)

Total Income Taxes		301,416			368,127

Profit		888,667			1,254,157

Profit Attributable to Non-controllingInterests		3,234			5,525

Profit Attributable to Owners of Parent	¥	885,433		¥	1,248,632

1-8

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income

	(Millions of yen)
	For the fiscalyear endedMarch 31, 2025			For the fiscalyear endedMarch 31, 2026
Profit	¥	888,667		¥	1,254,157
Other Comprehensive Income (Loss)		(270,483	)		397,052
Net Unrealized Gains (Losses) on Other Securities		(61,222	)		447,926
Deferred Gains (Losses) on Hedges		(166,963	)		(390,639	)
Revaluation Reserve for Land		(1,343	)		—
Foreign Currency Translation Adjustments		45,598			237,061
Remeasurements of Defined Benefit Plans		(92,478	)		103,306
Own Credit Risk Adjustments, Net of Tax		(562	)		89
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		6,488			(692	)

Comprehensive Income		618,184			1,651,210

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		614,332			1,643,527
Comprehensive Income Attributable to Non-controlling<br>Interests		3,851			7,683

1-9

Mizuho Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the fiscal year ended March 31, 2025

		(Millions of yen)
		Shareholders’ Equity
		CommonStock			CapitalSurplus			RetainedEarnings			TreasuryStock			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									(304,603	)					(304,603	)
Profit Attributable to Owners of Parent									885,433						885,433
Repurchase of Treasury Stock												(102,921	)		(102,921	)
Disposition of Treasury Stock						2						2,861			2,864
Cancellation of Treasury Stock						(99,999	)					99,999			—
Transfer from Revaluation Reserve for Land									26,853						26,853
Transfer from Retained Earnings to Capital Surplus						99,996			(99,996	)					—
Net Changes in Items other than Shareholders’ Equity

Total Changes during the period			—			(0	)		507,686			(59	)		507,626

Balance as of the end of the period			2,256,767			1,129,730			6,046,578			(9,462	)		9,423,614

	Accumulated Other Comprehensive Income																				StockAcquisitionRights		Non-ControllingInterests		Total NetAssets
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	NetUnrealizedGains(Losses)on OtherSecurities			DeferredGains(Losses)<br>on Hedges			RevaluationReserve forLand			ForeignCurrencyTranslationAdjustments		Remeasurementsof DefinedBenefit Plans			Own CreditRiskAdjustments,Net of Tax			TotalAccumulatedOtherComprehensiveIncome
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																										(304,603	)
Profit Attributable to Owners of Parent																										885,433
Repurchase of Treasury Stock																										(102,921	)
Disposition of Treasury Stock																										2,864
Cancellation of Treasury Stock																										—
Transfer from Revaluation Reserve for Land																										26,853
Transfer from Retained Earnings to Capital Surplus																										—
Net Changes in Items other than Shareholders’ Equity		(62,117	)		(166,924	)		(28,199	)		54,533		(94,683	)		(562	)		(297,954	)		—		1,944		(296,009	)

Total Changes during the period		(62,117	)		(166,924	)		(28,199	)		54,533		(94,683	)		(562	)		(297,954	)		—		1,944		211,617

Balance as of the end of the period		867,697			(465,204	)		98,680			398,783		119,654			(1,014	)		1,018,596			5		81,536		10,523,753

1-10

Mizuho Financial Group, Inc.

For the fiscal year ended March 31, 2026

		(Millions of yen)
		Shareholders’ Equity
		CommonStock			CapitalSurplus			RetainedEarnings			TreasuryStock			Total<br>Shareholders’Equity
Balance as of the beginning of the period			2,256,767			1,129,730			6,046,578			(9,462	)		9,423,614
Changes during the period
Cash Dividends									(368,910	)					(368,910	)
Profit Attributable to Owners of Parent									1,248,632						1,248,632
Repurchase of Treasury Stock												(404,325	)		(404,325	)
Disposition of Treasury Stock						4						2,258			2,263
Cancellation of Treasury Stock						(99,999	)					99,999			—
Transfer from Revaluation Reserve for Land									4,309						4,309
Changes in Retained Earnings by Decreasing of Equity Method Affiliates and Others									554						554
Transfer from Retained Earnings to Capital Surplus						99,994			(99,994	)					—
Net Changes in Items other than Shareholders’ Equity

Total Changes during the period			—			—			784,589			(302,066	)		482,523

Balance as of the end of the period			2,256,767			1,129,730			6,831,168			(311,529	)		9,906,137

	Accumulated Other Comprehensive Income																	StockAcquisitionRights		Non-ControllingInterests		Total NetAssets
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	NetUnrealizedGains(Losses)<br>on OtherSecurities		DeferredGains(Losses) onHedges			RevaluationReserve forLand			ForeignCurrencyTranslationAdjustments		Remeasurementsof DefinedBenefit Plans		Own CreditRiskAdjustments,Net of Tax			TotalAccumulatedOtherComprehensiveIncome
Balance as of the beginning of the period		867,697		(465,204	)		98,680			398,783		119,654		(1,014	)		1,018,596		5		81,536		10,523,753
Changes during the period
Cash Dividends																							(368,910	)
Profit Attributable to Owners of Parent																							1,248,632
Repurchase of Treasury Stock																							(404,325	)
Disposition of Treasury Stock																							2,263
Cancellation of Treasury Stock																							—
Transfer from Revaluation Reserve for Land																							4,309
Changes in Retained Earnings by Decreasing of Equity Method Affiliates and Others																							554
Transfer from Retained Earnings to Capital Surplus																							—
Net Changes in Items other than Shareholders’ Equity		446,751		(390,015	)		(4,309	)		232,018		106,050		89			390,585		1,203		5,824		397,614

Total Changes during the period		446,751		(390,015	)		(4,309	)		232,018		106,050		89			390,585		1,203		5,824		880,137

Balance as of the end of the period		1,314,449		(855,219	)		94,371			630,802		225,704		(925	)		1,409,182		1,208		87,361		11,403,890

1-11

Mizuho Financial Group, Inc.

(4) Consolidated Statements of Cash Flows

	(Millions of yen)
	For the fiscal yearended<br>March 31, 2025			For the fiscal yearended<br>March 31, 2026
Cash Flow from Operating Activities	****	****	****	****	****	****
Profit before Income Taxes	¥	1,190,084		¥	1,622,285
Depreciation		198,607			231,791
Losses on Impairment of Fixed Assets		23,270			24,971
Amortization of Goodwill		7,315			9,507
Equity in Loss (Gain) from Investments in Affiliates		(46,782	)		(52,266	)
Increase (Decrease) in Allowance for Loan Losses		(33,639	)		(128,544	)
Increase (Decrease) in Allowance for Investment Losses		0			(6	)
Increase (Decrease) in Reserve for Possible Losses on Sales of Loans		(7,379	)		5,440
Increase (Decrease) in Reserve for Contingencies		3,759			(7,868	)
Increase (Decrease) in Reserve for Bonus Payments		39,356			26,492
Increase (Decrease) in Reserve for Variable Compensation		(301	)		654
Decrease (Increase) in Net Defined Benefit Asset		(26,725	)		188,696
Increase (Decrease) in Net Defined Benefit Liability		477			4,138
Increase (Decrease) in Reserve for Director and Corporate Auditor Retirement Benefits		(57	)		(80	)
Increase (Decrease) in Reserve for Reimbursement of Deposits		(3,232	)		(2,209	)
Increase (Decrease) in Reserve for Reimbursement of Debentures		(5,159	)		(13,115	)
Interest Income—accrual basis		(6,000,202	)		(5,851,595	)
Interest Expenses—accrual basis		4,954,945			4,474,506
Losses (Gains) on Securities		2,393			(161,535	)
Losses (Gains) on Money Held in Trust		(739	)		(2,031	)
Foreign Exchange Losses (Gains)—net		160,885			(930,252	)
Losses (Gains) on Disposition of Fixed Assets		(23,674	)		6,538
Losses (Gains) on Revision of Retirement Benefit Plan		(9,015	)		—
Losses (Gains) on Cancellation of Employee Retirement Benefit Trust		(12,396	)		(69,762	)
Net Decrease (Increase) in Trading Assets		(897,685	)		(7,351,013	)
Net Increase (Decrease) in Trading Liabilities		449,391			4,334,858
Net Decrease (Increase) in Derivatives other than for Trading Assets		(901,858	)		(2,636,735	)
Net Increase (Decrease) in Derivatives other than for Trading Liabilities		757,438			3,044,316
Net Decrease (Increase) in Loans and Bills Discounted		(1,525,099	)		(2,940,996	)
Net Increase (Decrease) in Deposits		(975,924	)		4,667,281
Net Increase (Decrease) in Negotiable Certificates of Deposit		2,903,305			(3,513,290	)
Net Increase (Decrease) in Borrowed Money (excluding Subordinated Borrowed Money)		(1,446,750	)		1,105,527
Net Decrease (Increase) in Due from Banks (excluding Due from Central Banks)		15,123			(2,522	)
Net Decrease (Increase) in Call Loans, etc.		(6,833,612	)		(1,625,825	)
Net Decrease (Increase) in Guarantee Deposits Paid under Securities Borrowing<br>Transactions		278,464			307,060
Net Increase (Decrease) in Call Money, etc.		1,735,093			(1,351,228	)
Net Increase (Decrease) in Commercial Paper		986,546			(365,043	)
Net Increase (Decrease) in Guarantee Deposits Received under Securities Lending<br>Transactions		297,966			364,080
Net Decrease (Increase) in Foreign Exchanges (Assets)		2,059			(389,154	)
Net Increase (Decrease) in Foreign Exchanges (Liabilities)		(59,192	)		246,286
Net Increase (Decrease) in Short-term Bonds (Liabilities)		158,381			(199,577	)
Increase (Decrease) in Bonds and Notes		795,718			2,129,257
Net Increase (Decrease) in Due to Trust Accounts		(32,930	)		(263,238	)
Interest and Dividend Income—cash basis		5,907,980			5,714,521
Interest Expenses—cash basis		(5,043,512	)		(4,373,578	)
Other—net		(679,389	)		(797,853	)

Subtotal		(3,696,692	)		(4,521,113	)

Cash Refunded (Paid) in Income Taxes		(124,107	)		(317,420	)

Net Cash Provided by (Used in) Operating Activities		(3,820,800	)		(4,838,533	)

1-12

Mizuho Financial Group, Inc.

	(Millions of yen)
	For the fiscal yearended<br>March 31, 2025			For the fiscal yearended<br>March 31, 2026
Cash Flow from Investing Activities	****	****	****	****	****	****
Payments for Purchase of Securities		(60,070,019	)		(57,996,992	)
Proceeds from Sale of Securities		43,264,042			43,523,266
Proceeds from Redemption of Securities		20,901,192			8,157,021
Payments for Increase in Money Held in Trust		(55,845	)		(58,722	)
Proceeds from Decrease in Money Held in Trust		6,826			68,595
Payments for Purchase of Tangible Fixed Assets		(94,936	)		(96,688	)
Payments for Purchase of Intangible Fixed Assets		(250,009	)		(222,263	)
Proceeds from Sale of Tangible Fixed Assets		88,745			22,405
Proceeds from Sale of Intangible Fixed Assets		125			213
Payments for Purchase of Stocks of Subsidiaries (affecting the scope of consolidation)		—			(54,240	)
Payments from Sale of Stocks of Subsidiaries (affecting the scope of consolidation)		—			(16,607	)
Proceeds from Sale of Stocks of Subsidiaries (affecting the scope of consolidation)		2,970			5,636

Net Cash Provided by (Used in) Investing Activities		3,793,092			(6,668,376	)

Cash Flow from Financing Activities
Proceeds from Subordinated Borrowed Money		10,000			—
Repayments of Subordinated Borrowed Money		—			(45,000	)
Proceeds from Issuance of Subordinated Bonds		514,500			724,000
Payments for Redemption of Subordinated Bonds		(417,000	)		(429,147	)
Proceeds from Investments by Non-controlling<br>Shareholders		1,446			1,571
Cash Dividends Paid		(304,425	)		(368,703	)
Cash Dividends Paid to Non-controlling<br>Shareholders		(3,494	)		(3,812	)
Payments for Repurchase of Treasury Stock		(102,921	)		(404,325	)
Proceeds from Sale of Treasury Stock		2,864			2,263

Net Cash Provided by (Used in) Financing Activities		(299,030	)		(523,153	)

Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents		(115,716	)		984,282

Net Increase (Decrease) in Cash and Cash Equivalents		(442,454	)		(11,045,780	)

Cash and Cash Equivalents at the beginning of the fiscal year		71,165,815			70,723,361

Cash and Cash Equivalents at the end of the fiscal year	¥	70,723,361		¥	59,677,580

1-13

Mizuho Financial Group, Inc.

(5) Notes regarding Consolidated Financial Statements

(Matters Related to the Assumption of Going Concern)

There is no applicable information.

(Business SegmentsInformation)

Summary of reportable segments

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

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

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

RBC:

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

CIBC:

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

GCIBC:

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

GMC:

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

AMC:

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

The reportable segments information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices.

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

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

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

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

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

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

1-14

Mizuho Financial Group, Inc.

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

		(Millions of yen)
		MHFG (Consolidated)
		RBC		CIBC		GCIBC		GMC		AMC			Others(Note 2)
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses)<br>related to ETFs and others			984,610		739,268		856,952		664,856		73,572			196,415	3,515,673
General and Administrative Expenses (excluding<br>Non-Recurring Losses and others)			756,663		250,574		510,695		404,901		46,274			122,599	2,091,706
Equity in Income from Investments in Affiliates			11,712		11,920		26,817		—		(1,895	)		3,712	52,266
Amortization of Goodwill and others			2,144		824		5,339		—		5,725			1,051	15,083
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others			237,515		499,790		367,735		259,955		19,678			76,476	1,461,149
Fixed Assets			648,906		173,847		235,306		102,403		—			859,142	2,019,604
Notes: 1.		Gross Profits (excluding the amounts of credit costs of trust accounts) +Net Gains (Losses) related to ETFs and others is reported instead of sales reported by general corporations. Net Gains (Losses) related to ETFs and others<br>amounted to ¥ 38,373 million, of which ¥ 30,852 million is included in the GMC.
---	---	---
2.		“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
3.		“Others” in Fixed Assets includes assets of headquarters that have not been allocated to each segment, Fixed Assets pertaining to consolidated subsidiaries that are not subject to allocation, consolidated adjustments,<br>and others.
		Among Fixed Assets that have not been allocated to each segment, some related expenses are allocated to each segment using a reasonable criteria of allocation.
4.		Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency<br>rates.

1-15

Mizuho Financial Group, Inc.

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

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

The differences for the period are as follows:

(1)	The total of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses)<br>related to ETFs and others of Segment Information and Ordinary Profits recorded in the Consolidated Statement of Income
		(Millions of yen)
---	---	---	---	---
		Amount
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others			3,515,673
Net Gains (Losses) related to ETFs and others			(38,373	)
Other Ordinary Income			525,536
General and Administrative Expenses			(2,103,458	)
Other Ordinary Expenses			(326,218	)

Ordinary Profits recorded in Consolidated Statement of Income			1,573,159

(2)	The total of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of<br>(provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others of Segment Information and Profit before Income Taxes recorded in the Consolidated Statement of Income
---	---
		(Millions of yen)
---	---	---	---	---
		Amount
Net Business Profits<br><br><br>(excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to<br>ETFs and others			1,461,149
General and Administrative Expenses (Non-Recurring<br>Losses)			3,331
Expenses related to Portfolio Problems (including reversal of (provision for) general allowance<br>for loan losses)			(142,198	)
Gains on Reversal of Allowance for Loan Losses, and others			9,126
Net Gains (Losses) related to Stocks—Net Gains (Losses) related to ETFs and others			286,802
Net Extraordinary Gains (Losses)			49,125
Others			(45,051	)

Profit before Income Taxes recorded in Consolidated Statement of Income			1,622,285

1-16

Mizuho Financial Group, Inc.

(Per Share Information)

(Consolidated basis)

			Fiscal 2024			Fiscal 2025
Net Assets per Share of Common Stock			¥	4,161.03		¥	4,640.23
Earnings per Share of Common Stock			¥	350.20		¥	502.92
Diluted Earnings per Share of Common Stock			¥	350.20		¥	502.92
Notes: 1.	Total Net Assets per Share of Common Stock is based on the following information:
---	---
						Fiscal 2024				Fiscal 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
Net Assets per Share of Common Stock
Total Net Assets		¥	million				10,523,753				11,403,890
Deductions from Total Net Assets		¥	million				81,541				88,570
Stock Acquisition Rights		¥	million				5				1,208
Non-Controlling Interests		¥	million				81,536				87,361
Net Assets (year-end) related to Common Stock		¥	million				10,442,211				11,315,320
Year-end Outstanding Shares of Common Stock, based on<br>which Total Net Assets per Share of Common Stock was calculated			Thousands<br>of shares				2,509,524				2,438,523
2.	Earnings per Share of Common Stock and Diluted Earnings per Share of Common Stock are based on the following<br>information:
---	---
						Fiscal 2024				Fiscal 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
Earnings per Share of Common Stock
Profit Attributable to Owners of Parent		¥	million				885,433				1,248,632
Amount not attributable to Common Stock		¥	million				—				—
Profit Attributable to Owners of Parent related to Common Stock		¥	million				885,433				1,248,632
Average Outstanding Shares of Common Stock (during the period)			Thousands<br>of shares				2,528,302				2,482,716
Diluted Earnings per Share of Common Stock
Adjustment to Profit Attributable to Owners of Parent		¥	million				—				—
Increased Number of Shares of Common Stock			Thousands<br>of shares				2				2
Stock Acquisition Rights			Thousands<br>of shares				2				2
Description of dilutive securities which were not included in the calculation of Diluted Earnings<br>per Share of Common Stock as they have no dilutive effects							—				—

1-17

Mizuho Financial Group, Inc.

3.	In the calculation of Net Assets per Share of Common Stock, MHFG shares outstanding in BBT trust account that<br>were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted from the number of issued shares as of March 31, 2025 and 2026. The numbers of such Treasury Stock shares deducted during the period ended<br>March 31, 2025 and 2026 are 2,376 thousand and 2,166 thousand, respectively.
In the calculation of Earnings per Share of Common Stock and Diluted Earnings per Share of Common Stock, such<br>Treasury Stock shares are included in Treasury Stock shares deducted in the calculation of the Average Outstanding Shares of Common Stock during the period. The average numbers of such Treasury Stock shares deducted during the period ended<br>March 31, 2025 and 2026 are 2,498 thousand and 2,211 thousand, respectively.
---

In the calculation of Net Assets per Share of Common Stock, MHFG shares outstanding in BBT trust account that<br>were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted from the number of issued shares as of March 31, 2025 and 2026. The numbers of such Treasury Stock shares deducted during the period ended<br>March 31, 2025 and 2026 are 2,376 thousand and 2,166 thousand, respectively.

In the calculation of Earnings per Share of Common Stock and Diluted Earnings per Share of Common Stock, such<br>Treasury Stock shares are included in Treasury Stock shares deducted in the calculation of the Average Outstanding Shares of Common Stock during the period. The average numbers of such Treasury Stock shares deducted during the period ended<br>March 31, 2025 and 2026 are 2,498 thousand and 2,211 thousand, respectively.

---

(Subsequent Events)

Cancellation of Own Shares

On April 22, 2026, the Company has completed the cancellation of its own shares, pursuant to Article 178 of the Companies Act, that was resolved by the Board of Directors held on November 14, 2025 and February 2, 2026.

(1)	Reason for cancellation of Own Shares

The Company has completed the cancellation of its own shares in order to improve capital efficiency.

(2)	Type of shares cancelled: Common stock
(3)	Number of shares cancelled: 47,016,600 shares (Equivalent to 1.9% of the number of shares issued before<br>cancellation)
---	---
(4)	Cancellation date: April 22, 2026
---	---

Repurchase and cancellation of Own Shares

MHFG resolved at the meeting of its Board of Directors held on May 15, 2026 to repurchase its common stock pursuant to the provisions of Article 156, Paragraph 1 of the Companies Act and in accordance with the provisions of Article 459, Paragraph 1 of the Companies Act and Article 47 of its Articles of Incorporation, and cancel the repurchased common stock pursuant to Article 178 of the Companies Act.

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

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

(2)	Outline of Repurchase
i.		Stock to be repurchased:		MHFG common stock
---	---	---	---	---
ii.		Aggregate shares to be repurchased:		Up to a maximum of 25,000,000 shares
				(1.0% of the number of issued shares excluding treasury stock as of March 31, 2026)
iii.		Aggregate amount of repurchase price:		Up to a maximum of ¥100,000,000,000
iv.		Repurchase period:		From May 18, 2026 to August 31, 2026
v.		Repurchase method:		Market purchase utilizing trust method
(3)	Outline of Cancellation
---	---
i.		Type of stock to be cancelled:		MHFG common stock
---	---	---	---	---
ii.		Number of shares to be cancelled:		All of the common stock repurchased as stated in item 2 above
iii.		Scheduled cancellation date:		September 24, 2026

1-18

SELECTED FINANCIAL INFORMATION

For Fiscal 2025

(UnderJapanese GAAP)

LOGO

CONTENTS

Notes:

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

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

I. FINANCIAL DATA FOR FISCAL 2025		See above Notes						Page
1. Income Analysis			CON				NON		2-1
2. Interest Margins (Domestic Operations)			NON						2-5
3. Use and Source of Funds			NON						2-6
4. Net Gains/Losses on Securities			CON				NON		2-8
5. Unrealized Gains/Losses on Securities			CON				NON		2-10
6. Projected Redemption Amounts for Securities			NON						2-12
7. Employee Retirement Benefits			NON				CON		2-13
8. Capital Ratio			CON				NON		2-16
II. REVIEW OF CREDITS		See above Notes						Page
1. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial<br>Reconstruction Act (“FRA”)			CON				NON		2-17
2. Status of Allowances for Loan Losses			CON				NON		2-21
3. Allowance Coverage Ratios for Non Performing Loans based on the BA and the FRA			CON				NON		2-22
4. Coverage on Non Performing Loans based on the BA and the FRA			NON						2-23
5. Overview of Non-Performing<br>Loans(“NPLs”)			NON						2-26
6. Results of Removal of NPLs from the Balance Sheet			NON						2-27
7. Status of Loans by Industry
(1) Outstanding Balances by Industry			NON						2-28
(2) Non Performing Loans based on the BA and the FRA and Coverage Ratio by Industry			NON						2-30
8. Housing and Consumer Loans & Loans to Small and<br>Medium-Sized Enterprises (“SMEs”) and Individual Customers
(1) Balance of Housing and Consumer Loans			NON						2-31
(2) Loans to SMEs and Individual Customers			NON						2-31
9. Status of Loans by Region
(1) Outstanding Balances by Region			NON						2-32
(2) Non Performing Loans based on the BA and the FRA by Region			NON						2-33
III. OTHERS		See above Notes						Page
1. Estimation for Calculating Deferred Tax Assets			NON						2-34
2. Breakdown of Deposits (Domestic Offices)			NON						2-36
Attachments		****			Page
---	---	---	---	---	---	---
Mizuho Bank, Ltd.
Comparison of Non-Consolidated Balance Sheets (selected<br>items)						2-37
Comparison of Non-Consolidated Statements of Income<br>(selected items)						2-38

Further information regardingfactors that could affect our financial condition and results of operations is included in “Item 3.D. Key Information-Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) and our report on Form 6-K furnished to the SEC on December 29, 2025, both of which areavailable 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.

Mizuho Financial Group, Inc.

I. FINANCIAL DATA FOR FISCAL 2025

1. Income Analysis

Consolidated

		(Millions of yen)
		Fiscal 2025						Fiscal 2024
					Change
Consolidated Gross Profits	1	****	3,477,299	****		556,897			2,920,402
Net Interest Income	2	****	1,377,089	****		331,832			1,045,256
Trust Fees	3	****	67,001	****		4,712			62,288
Credit Costs of Trust Accounts	4	****	—	****	****	—	****	****	—	****
Net Fee and Commission Income	5	****	1,080,418	****		173,625			906,793
Net Trading Income	6	****	894,910	****		(152,549	)		1,047,459
Net Other Operating Income	7	****	57,880	****		199,276			(141,395	)
General and Administrative Expenses	8	****	(2,103,458	)		(262,756	)		(1,840,702	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Allowance<br>for Loan Losses)	9	****	(142,198	)		(80,025	)		(62,173	)
Losses on Write-offs of Loans	10	****	(24,912	)		(13,393	)		(11,519	)
Gains on Reversal of Allowance for Loan Losses, and others	11	****	9,126	****		(1,443	)		10,569
Net Gains (Losses) related to Stocks	12	****	325,176	****		183,948			141,227
Equity in Income from Investments in Affiliates	13	****	52,266	****		5,484			46,782
Other	14	****	(45,051	)		2,913			(47,965	)

Ordinary Profits	15	****	1,573,159	****		405,018			1,168,141

Net Extraordinary Gains (Losses)	16	****	49,125	****		27,182			21,943
Profit before Income Taxes	17	****	1,622,285	****		432,200			1,190,084
Income Taxes - Current	18	****	(433,402	)		(131,877	)		(301,525	)
-<br>Deferred	19	****	65,275	****		65,166			108
Profit	20	****	1,254,157	****		365,490			888,667
Profit Attributable to Non-controlling Interests	21	****	(5,525	)		(2,291	)		(3,234	)

Profit Attributable to Owners of Parent	22	****	1,248,632	****		363,198			885,433

Credit-related Costs (including Credit Costs for Trust Accounts)	23	****	(133,072	)		(81,468	)		(51,603	)
* Credit-related Costs [23] = Expenses related to Portfolio Problems (including Reversal of<br>(Provision for) General Allowance for Loan Losses) [9]<br>+ Gains on Reversal of Allowance for Loan Losses, and others [11] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits	24	****	1,422,775	****		323,802			1,098,973
* Consolidated Net Business Profits [24] = Consolidated Gross Profits [1] - General and<br>Administrative Expenses (excluding Non-Recurring Losses)<br>+ Equity in Income from Investments in Affiliates and certain other consolidation adjustments
Number of consolidated subsidiaries	25	****	263	****		28			235
Number of affiliates under the equity method	26	****	25	****		(2	)		27

2-1

Mizuho Financial Group, Inc.

Aggregate Figures for the 2 Banks

Non-Consolidated

		(Millions of yen)
		Fiscal 2025												Fiscal 2024
		MHBK			MHTB			Aggregate<br>Figures			Change
Gross Profits	1	****	1,883,395	****	****	194,066	****	****	2,077,461	****		379,629			1,697,832
Domestic Gross Profits	2	****	1,270,334	****	****	192,454	****	****	1,462,789	****		320,366			1,142,422
Net Interest Income	3	****	841,917	****	****	65,008	****	****	906,926	****		219,850			687,075
Trust Fees	4				****	67,999	****	****	67,999	****		5,308			62,691
Trust Fees for Jointly Operated Designated Money Trust	5				****	3,206	****	****	3,206	****		(459	)		3,665
Credit Costs of Trust Accounts ^(1)^	6				****	—	****	****	—	****		—			—
Net Fee and Commission Income	7	****	317,479	****	****	58,738	****	****	376,218	****		61,396			314,821
Net Trading Income	8	****	93,236	****				****	93,236	****		38,187			55,049
Net Other Operating Income	9	****	17,700	****	****	707	****	****	18,408	****		(4,377	)		22,785
International Gross Profits	10	****	613,060	****	****	1,612	****	****	614,672	****		59,263			555,409
Net Interest Income	11	****	511,136	****	****	1,587	****	****	512,724	****		96,762			415,961
Net Fee and Commission Income	12	****	125,558	****	****	(68	)	****	125,490	****		(5,879	)		131,370
Net Trading Income	13	****	93,743	****				****	93,743	****		(120,525	)		214,269
Net Other Operating Income	14	****	(117,379	)	****	93	****	****	(117,286	)		88,906			(206,192	)
General and Administrative Expenses (excluding<br>Non-Recurring Losses)	15	****	(1,006,583	)	****	(86,021	)	****	(1,092,604	)		(94,560	)		(998,044	)
Expense Ratio	16	****	53.4	%	****	44.3	%	****	52.5	%		(6.1	)%		58.7	%
Personnel Expenses	17	****	(354,005	)	****	(46,280	)	****	(400,285	)		(15,519	)		(384,766	)
Non-Personnel Expenses	18	****	(590,760	)	****	(34,962	)	****	(625,722	)		(73,535	)		(552,186	)
Premium for Deposit Insurance	19	****	(18,349	)	****	(452	)	****	(18,802	)		(1,076	)		(17,726	)
Miscellaneous Taxes	20	****	(61,817	)	****	(4,778	)	****	(66,596	)		(5,505	)		(61,091	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan<br>Losses)	21	****	876,811	****	****	108,045	****	****	984,857	****		285,069			699,788
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from<br>core business areas ^(2)^	22	****	1,048,949	****	****	107,592	****	****	1,156,541	****		312,837			843,704
Excluding Net Gains (Losses) from redemption of Investment Trusts	23	****	1,017,263	****	****	107,574	****	****	1,124,837	****		293,941			830,896

Reversal of (Provision for) General Allowance for Loan Losses	24	****	(61,656	)	****	—	****	****	(61,656	)		(54,578	)		(7,078	)

Net Business Profits	25	****	815,155	****	****	108,045	****	****	923,201	****		230,490			692,710
Net Gains (Losses) related to Bonds	26	****	(172,137	)	****	453	****	****	(171,684	)		(27,767	)		(143,916	)

Net Non-Recurring Gains (Losses)	27	****	183,972	****	****	31,271	****	****	215,243	****		105,040			110,203
Net Gains (Losses) related to Stocks	28	****	280,524	****	****	27,986	****	****	308,510	****		176,776			131,734
Expenses related to Portfolio Problems	29	****	(81,996	)	****	(46	)	****	(82,042	)		(30,214	)		(51,828	)
Gains on Reversal of Allowance for Loan Losses, and others	30	****	7,317	****	****	810	****	****	8,127	****		(2,180	)		10,308
Other	31	****	(21,872	)	****	2,520	****	****	(19,351	)		(39,341	)		19,989

Ordinary Profits	32	****	999,127	****	****	139,317	****	****	1,138,444	****		335,530			802,913

Net Extraordinary Gains (Losses)	33	****	53,796	****	****	22,989	****	****	76,785	****		59,934			16,851
Net Gains (Losses) on Disposition of Fixed Assets	34	****	(2,525	)	****	622	****	****	(1,903	)		(26,303	)		24,399
Losses on Impairment of Fixed Assets	35	****	(6,274	)	****	(435	)	****	(6,710	)		15,780			(22,491	)
Gains on Cancellation of Employee Retirement Benefit Trust	36	****	61,850	****	****	7,911	****	****	69,762	****		57,366			12,396
Accumulation (Amortization) of Unrecognized Prior Service Cost	37	****	—	****	****	—	****	****	—	****		(7,310	)		7,310
Profit before Income Taxes	38	****	1,052,924	****	****	162,306	****	****	1,215,230	****		395,465			819,765
Income Taxes - Current	39	****	(279,169	)	****	(41,046	)	****	(320,215	)		(85,295	)		(234,920	)
- Deferred	40	****	48,663	****	****	2,189	****	****	50,853	****		16,397			34,456

Profit	41	****	822,419	****	****	123,449	****	****	945,868	****		326,567			619,301

(1) Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)<br>for MHTB excludes the amounts of “Credit Costs of Trust Accounts” [6].<br> <br>(2) Net<br>Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas[22]<br><br><br>=Net Business Profits(before Reversal of (Provision for) General Allowance for Loan Losses)[21]-Net Gains (Losses) related to Bonds[26]
Credit-related Costs	42	****	(136,335	)	****	764	****	****	(135,571	)		(86,972	)		(48,598)
Credit-related Costs [42] = Expenses related to Portfolio Problems [29] + Reversal of (Provision<br>for) General Allowance for Loan Losses [24] + Gains on Reversal of Allowance for Loan Losses, and others [30] + Credit Costs of Trust Accounts [6]
(Reference) Breakdown of Credit-related Costs
Credit Costs of Trust Accounts	43				****	—	****	****	—	****		—			—
Reversal of (Provision for) General Allowance for Loan Losses	44	****	(61,656	)	****	58	****	****	(61,597	)		(54,519	)		(7,078	)
Losses on Write-offs of Loans	45	****	(18,159	)	****	(36	)	****	(18,195	)		(18,788	)		593
Reversal of (Provision for) Specific Allowance for Loan Losses	46	****	(78,244	)	****	741	****	****	(77,502	)		(42,562	)		(34,939	)
Reversal of (Provision for) Allowance for Loan Losses to Restructuring Countries	47	****	24,746	****	****	—	****	****	24,746	****		15,225			9,520
Reversal of (Provision for) Reserve for Contingencies	48	****	2,009	****	****	—	****	****	2,009	****		6,506			(4,496	)
Other (including Losses on Sales of Loans)	49	****	(5,031	)	****	—	****	****	(5,031	)		7,165			(12,196	)
Total	50	****	(136,335	)	****	764	****	****	(135,571	)		(86,972	)		(48,598	)

2-2

Mizuho Financial Group, Inc.

Mizuho Bank

Non-Consolidated

		(Millions of yen)
		Fiscal 2025						Fiscal 2024
					Change
Gross Profits	1	****	1,883,395	****		321,732			1,561,662
Domestic Gross Profits	2	****	1,270,334	****		264,080			1,006,254
Net Interest Income	3	****	841,917	****		188,973			652,944
Net Fee and Commission Income	4	****	317,479	****		41,338			276,141
Net Trading Income	5	****	93,236	****		38,187			55,049
Net Other Operating Income	6	****	17,700	****		(4,418	)		22,119
International Gross Profits	7	****	613,060	****		57,651			555,408
Net Interest Income	8	****	511,136	****		95,252			415,884
Net Fee and Commission Income	9	****	125,558	****		(5,894	)		131,453
Net Trading Income	10	****	93,743	****		(120,525	)		214,269
Net Other Operating Income	11	****	(117,379	)		88,819			(206,198	)
General and Administrative Expenses (excluding<br>Non-Recurring Losses)	12	****	(1,006,583	)		(97,995	)		(908,587	)
Expense Ratio	13	****	53.4	%		(4.7	)%		58.1	%
Personnel Expenses	14	****	(354,005	)		(14,246	)		(339,759	)
Non-Personnel Expenses	15	****	(590,760	)		(78,673	)		(512,086	)
Premium for Deposit Insurance	16	****	(18,349	)		(1,137	)		(17,211	)
Miscellaneous Taxes	17	****	(61,817	)		(5,075	)		(56,741	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan<br>Losses)	18	****	876,811	****		223,736			653,075
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from<br>core business areas *	19	****	1,048,949	****		251,959			796,989
Excluding Net Gains (Losses) from redemption of Investment Trusts	20	****	1,017,263	****		233,082			784,181

Reversal of (Provision for) General Allowance for Loan Losses	21	****	(61,656	)		(57,147	)		(4,508	)

Net Business Profits	22	****	815,155	****		166,589			648,566
Net Gains (Losses) related to Bonds	23	****	(172,137	)		(28,223	)		(143,914	)

Net Non-Recurring Gains (Losses)	24	****	183,972	****		96,451			87,520
Net Gains (Losses) related to Stocks	25	****	280,524	****		163,760			116,763
Expenses related to Portfolio Problems	26	****	(81,996	)		(29,347	)		(52,649	)
Gains on Reversal of Allowance for Loan Losses, and others	27	****	7,317	****		(2,940	)		10,257
Other	28	****	(21,872	)		(35,021	)		13,149

Ordinary Profits	29	****	999,127	****		263,040			736,087

Net Extraordinary Gains (Losses)	30	****	53,796	****		31,318			22,478
Net Gains (Losses) on Disposition of Fixed Assets	31	****	(2,525	)		(27,093	)		24,567
Losses on Impairment of Fixed Assets	32	****	(6,274	)		4,139			(10,413	)
Gains on Cancellation of Employee Retirement Benefit Trust	33	****	61,850	****		55,130			6,720
Accumulation (Amortization) of Unrecognized Prior Service Cost	34	****	—	****		(6,368	)		6,368
Profit before Income Taxes	35	****	1,052,924	****		294,358			758,565
Income Taxes - Current	36	****	(279,169	)		(67,815	)		(211,354	)
- Deferred	37	****	48,663	****		22,381			26,282

Profit	38	****	822,419	****		248,925			573,494

* Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from<br>core business areas[19]<br>=Net Business Profits(before Reversal of (Provision for) General Allowance for Loan Losses)[18]-Net Gains (Losses) related to Bonds[23]
Credit-related Costs	39	****	(136,335	)		(89,435)			(46,900	)
Credit-related Costs [39] = Expenses related to Portfolio Problems [26] + Reversal of<br>(Provision for) General Allowance for Loan Losses [21]<br> + Gains on Reversal of Allowance for Loan Losses, and others [27]
(Reference) Breakdown of Credit-related Costs
Reversal of (Provision for) General Allowance for Loan Losses	40	****	(61,656	)		(57,147	)		(4,508	)
Losses on Write-offs of Loans	41	****	(18,159	)		(18,752	)		593
Reversal of (Provision for) Specific Allowance for Loan Losses	42	****	(78,244	)		(42,483	)		(35,760	)
Reversal of (Provision for) Allowance for Loan Losses to Restructuring Countries	43	****	24,746	****		15,225			9,520
Reversal of (Provision for) Reserve for Contingencies	44	****	2,009	****		6,556			(4,547	)
Other (including Losses on Sales of Loans)	45	****	(5,031	)		7,165			(12,196	)
Total	46	****	(136,335	)		(89,435	)		(46,900	)

2-3

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

Non-Consolidated

		(Millions of yen)
		Fiscal 2025						Fiscal 2024
					Change
Gross Profits	1	****	194,066	****		57,896			136,169
Domestic Gross Profits	2	****	192,454	****		56,285			136,168
Net Interest Income	3	****	65,008	****		30,877			34,130
Trust Fees	4	****	67,999	****		5,308			62,691
Trust Fees for Jointly Operated Designated Money Trust	5	****	3,206	****		(459	)		3,665
Credit Costs of Trust Accounts ^(1)^	6	****	—	****		—			—
Net Fee and Commission Income	7	****	58,738	****		20,058			38,680
Net Other Operating Income	8	****	707	****		41			666
International Gross Profits	9	****	1,612	****		1,611			1
Net Interest Income	10	****	1,587	****		1,509			77
Net Fee and Commission Income	11	****	(68	)		14			(82	)
Net Other Operating Income	12	****	93	****		86			6
General and Administrative Expenses (excluding<br>Non-Recurring Losses)	13	****	(86,021	)		3,435			(89,456	)
Expense Ratio	14	****	44.3	%		(21.3	)%		65.6	%
Personnel Expenses	15	****	(46,280	)		(1,273	)		(45,007	)
Non-Personnel Expenses	16	****	(34,962	)		5,137			(40,100	)
Premium for Deposit Insurance	17	****	(452	)		61			(514	)
Miscellaneous Taxes	18	****	(4,778	)		(429	)		(4,349	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan<br>Losses)	19	****	108,045	****		61,332			46,712
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from<br>core business areas ^(2)^	20	****	107,592	****		60,877			46,715
Excluding Net Gains (Losses) from redemption of Investment Trusts	21	****	107,574	****		60,858			46,715

Reversal of (Provision for) General Allowance for Loan Losses	22	****	—	****		2,569			(2,569	)

Net Business Profits	23	****	108,045	****		63,901			44,143
Net Gains (Losses) related to Bonds	24	****	453	****		455			(2	)

Net Non-Recurring Gains (Losses)	25	****	31,271	****		8,588			22,682
Net Gains (Losses) related to Stocks	26	****	27,986	****		13,015			14,971
Expenses related to Portfolio Problems	27	****	(46	)		(867	)		821
Gains on Reversal of Allowance for Loan Losses, and others	28	****	810	****		760			50
Other	29	****	2,520	****		(4,319	)		6,840

Ordinary Profits	30	****	139,317	****		72,490			66,826

Net Extraordinary Gains (Losses)	31	****	22,989	****		28,616			(5,626	)
Net Gains (Losses) on Disposition of Fixed Assets	32	****	622	****		790			(167	)
Losses on Impairment of Fixed Assets	33	****	(435	)		11,641			(12,077	)
Gains on Cancellation of Employee Retirement Benefit Trust	34	****	7,911	****		2,235			5,676
Accumulation (Amortization) of Unrecognized Prior Service Cost	35	****	—	****		(941	)		941
Profit before Income Taxes	36	****	162,306	****		101,106			61,200
Income Taxes - Current	37	****	(41,046	)		(17,480	)		(23,566	)
- Deferred	38	****	2,189	****		(5,984	)		8,173

Profit	39	****	123,449	****		77,641			45,807

(1) Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) excludes the<br>amounts of “Credit Costs of Trust Accounts” [6].
(2) Net Business Profits (before Reversal of (Provision for) General Allowance<br>for Loan Losses) from core business areas[20]<br>=Net Business Profits(before Reversal of (Provision for) General Allowance for Loan Losses)[19]-Net Gains (Losses) related to Bonds[24]
Credit-related Costs	40	****	764	****		2,462			(1,697	)
Credit-related Costs [40] = Expenses related to Portfolio Problems [27] + Reversal of (Provision for) General Allowance for Loan<br>Losses [22]<br> <br>+ Gains on Reversal of Allowance for Loan Losses, and others [28] + Credit Costs of Trust Accounts [6]
(Reference) Breakdown of Credit-related Costs
Credit Costs of Trust Accounts	41	****	—	****		—			—
Reversal of (Provision for) General Allowance for Loan Losses	42	****	58	****		2,628			(2,569	)
Losses on Write-offs of Loans	43	****	(36	)		(36	)		0
Reversal of (Provision for) Specific Allowance for Loan Losses	44	****	741	****		(79)			821
Reversal of (Provision for) Allowance for Loan Losses to Restructuring Countries	45	****	—	****		—			—
Reversal of (Provision for) Reserve for Contingencies	46	****	—	****		(50)			50
Other (including Losses on Sales of Loans)	47	****	—	****		—			—
Total	48	****	764	****		2,462			(1,697	)

2-4

Mizuho Financial Group, Inc.

2. Interest Margins (Domestic Operations)

Non-Consolidated

				(%)
				Fiscal 2025					Fiscal 2024
Mizuho Bank							Change
Return on Interest-Earning Assets			1	****	0.96	****		0.34		0.62
Return on Loans and Bills Discounted<br>^*1^			2	****	1.31	****		0.34		0.96
Return on Securities			3	****	1.22	****		0.44		0.77
Cost of Funding (including Expenses)			4	****	0.92	****		0.27		0.64
Cost of Deposits (including Expenses)			5	****	0.87	****		0.22		0.64
Cost of Deposits ^*2^			6	****	0.21	****		0.14		0.06
Cost of Other External Liabilities			7	****	0.81	****		0.32		0.48

Net Interest Margin	(1	)-(4)	8	****	0.04	****		0.07		(0.02	)
Loan and Deposit Rate Margin (including Expenses)	(2	)-(5)	9	****	0.44	****		0.12		0.31
Loan and Deposit Rate Margin	(2	)-(6)	10	****	1.10	****		0.19		0.90

*1 Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).
*2 Deposits include Negotiable Certificates of Deposit<br>(“NCDs”).
(Reference) After excluding loans to the Japanese government and others
Return on Loans and Bills Discounted			11	****	1.33	****		0.33		0.99
Loan and Deposit Rate Margin (including Expenses)	(11	)-(5)	12	****	0.46	****		0.11		0.34
Loan and Deposit Rate Margin	(11	)-(6)	13	****	1.12	****		0.18		0.93
				(%)
				Fiscal 2025					Fiscal 2024
Mizuho Trust & Banking							Change
Return on Interest-Earning Assets			14	****	2.18	****		1.21		0.97
Return on Loans and Bills Discounted<br>^*1^			15	****	1.07	****		0.27		0.79
Return on Securities			16	****	11.85	****		8.22		3.63
Cost of Funding			17	****	0.53	****		0.30		0.23
Cost of Deposits ^*2^			18	****	0.27	****		0.17		0.09

Net Interest Margin	(14	)-(17)	19	****	1.64	****		0.91		0.73
Loan and Deposit Rate Margin	(15	)-(18)	20	****	0.79	****		0.09		0.70

*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	****	1.07	****		0.27		0.79
Loan and Deposit Rate Margin	(21	)-(18)	22	****	0.79	****		0.09		0.70

(Reference)
				(%)
				Fiscal 2025					Fiscal 2024
Aggregate Figures for the 2 Banks							Change
Return on Loans and Bills Discounted<br>^*1^			23	****	1.30	****		0.34		0.95
Cost of Deposits ^*2^			24	****	0.21	****		0.14		0.06

Loan and Deposit Rate Margin	(23	)-(24)	25	****	1.09	****		0.19		0.89

*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	****	1.32	****		0.33		0.98
Loan and Deposit Rate Margin	(26	)-(24)	27	****	1.10	****		0.18		0.92

2-5

Mizuho Financial Group, Inc.

3. Use and Source of Funds

Non-Consolidated

Mizuho Bank

	(Millions of yen, %)
	Fiscal 2025												Fiscal 2024
							Change
	Average Balance			Rate			Average Balance			Rate			Average Balance		Rate
(Total)
Use of Funds	****	211,584,337	****	****	2.25	****		2,815,584			(0.09	)		208,768,752		2.35
Loans and Bills Discounted	****	95,755,462	****	****	2.70	****		3,082,243			(0.05	)		92,673,218		2.75
Securities	****	37,971,344	****	****	2.35	****		745,276			0.16			37,226,068		2.18

Source of Funds	****	211,395,584	****	****	1.62	****		(688,502	)		(0.19	)		212,084,087		1.81
Deposits	****	156,300,471	****	****	1.01	****		2,411,812			(0.03	)		153,888,659		1.04
NCDs	****	14,448,525	****	****	3.36	****		1,496,436			(0.34	)		12,952,088		3.70
(Domestic Operations)
Use of Funds	****	129,944,893	****	****	0.96	****		279,558			0.34			129,665,335		0.62
Loans and Bills Discounted	****	56,433,368	****	****	1.29	****		128,152			0.34			56,305,215		0.95
Securities	****	17,650,639	****	****	1.22	****		280,174			0.44			17,370,465		0.77

Source of Funds	****	129,674,564	****	****	0.31	****		(959,708	)		0.20			130,634,272		0.11
Deposits	****	115,128,943	****	****	0.20	****		(359,114	)		0.14			115,488,058		0.06
NCDs	****	2,838,734	****	****	0.45	****		(217,407	)		0.33			3,056,142		0.12
(International Operations)
Use of Funds	****	81,738,855	****	****	4.32	****		2,007,202			(0.84	)		79,731,653		5.17
Loans and Bills Discounted	****	39,322,094	****	****	4.71	****		2,954,091			(0.83	)		36,368,002		5.54
Securities	****	20,320,704	****	****	3.33	****		465,101			(0.07	)		19,855,602		3.41

Source of Funds	****	81,820,432	****	****	3.69	****		(257,618	)		(0.81	)		82,078,051		4.51
Deposits	****	41,171,528	****	****	3.26	****		2,770,927			(0.75	)		38,400,601		4.02
NCDs	****	11,609,790	****	****	4.07	****		1,713,844			(0.73	)		9,895,945		4.80

2-6

Mizuho Financial Group, Inc.

Mizuho Trust & Banking (Banking Account)

	(Millions of yen, %)
	Fiscal 2025												Fiscal 2024
							Change
	Average Balance			Rate			Average Balance			Rate			Average Balance		Rate
(Total)
Use of Funds	****	3,863,424	****	****	2.23	****		(713,757	)		1.24			4,577,181		0.98
Loans and Bills Discounted	****	2,449,175	****	****	1.09	****		(303,809	)		0.27			2,752,985		0.82
Securities	****	252,325	****	****	12.25	****		72,037			8.79			180,288		3.46

Source of Funds	****	3,594,049	****	****	0.54	****		(775,564	)		0.29			4,369,614		0.24
Deposits	****	1,729,203	****	****	0.26	****		(760,152	)		0.17			2,489,355		0.09
NCDs	****	192,082	****	****	0.29	****		(169,531	)		0.15			361,613		0.14
(Domestic Operations)
Use of Funds	****	3,856,721	****	****	2.18	****		(709,181	)		1.21			4,565,903		0.97
Loans and Bills Discounted	****	2,440,029	****	****	1.08	****		(296,561	)		0.27			2,736,591		0.80
Securities	****	248,133	****	****	11.85	****		76,160			8.22			171,972		3.63

Source of Funds	****	3,586,451	****	****	0.53	****		(771,791	)		0.30			4,358,242		0.23
Deposits	****	1,727,404	****	****	0.26	****		(759,423	)		0.17			2,486,827		0.09
NCDs	****	192,082	****	****	0.29	****		(169,531)			0.15			361,613		0.14
(International Operations)
Use of Funds	****	21,469	****	****	8.87	****		(12,196	)		7.12			33,665		1.74
Loans and Bills Discounted	****	9,145	****	****	4.32	****		(7,247	)		0.76			16,393		3.56
Securities	****	4,192	****	****	35.97	****		(4,123	)		35.97			8,316		—

Source of Funds	****	22,365	****	****	1.42	****		(11,393	)		(0.09	)		33,758		1.51
Deposits	****	1,799	****	****	0.09	****		(728	)		0.03			2,528		0.06
NCDs	****	—	****	****	—	****		—			—			—		—

2-7

Mizuho Financial Group, Inc.

4. Net Gains/Losses on Securities

Consolidated

	(Millions of yen)
	Fiscal 2025						Fiscal 2024
	****			Change
Net Gains (Losses) related to Bonds	****	(167,532	)		(20,245	)		(147,287	)
Gains on Sales and Others	****	133,962	****		(3,458	)		137,421
Losses on Sales and Others	****	(299,863	)		(14,499	)		(285,363	)
Impairment (Devaluation)	****	(766	)		762			(1,529	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		(0	)		0
Gains (Losses) on Derivatives other than for Trading	****	(864	)		(3,048	)		2,184
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Stocks	****	325,176	****		183,948			141,227
Gains on Sales	****	430,077	****		104,684			325,393
Losses on Sales	****	(95,115	)		68,984			(164,100	)
Impairment (Devaluation)	****	(6,758	)		8,112			(14,871	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		2			(2	)
Gains (Losses) on Derivatives other than for Trading	****	(3,027	)		2,164			(5,191	)
Non-Consolidated<br><br><br><br> <br>Aggregate Figures for the 2 Banks									<br> <br><br><br><br>
	(Millions of yen)
	Fiscal 2025						Fiscal 2024
	****			Change
Net Gains (Losses) related to Bonds	****	(171,684	)		(27,767	)		(143,916	)
Gains on Sales and Others	****	132,701	****		(4,938	)		137,639
Losses on Sales and Others	****	(302,754	)		(20,543	)		(282,210	)
Impairment (Devaluation)	****	(766	)		762			(1,529	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		—			—
Gains (Losses) on Derivatives other than for Trading	****	(864	)		(3,048	)		2,184
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Stocks	****	308,510	****		176,776			131,734
Gains on Sales	****	410,899	****		104,813			306,086
Losses on Sales	****	(86,528	)		72,296			(158,824	)
Impairment (Devaluation)	****	(12,832	)		(2,499	)		(10,333	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		2			(2	)
Gains (Losses) on Derivatives other than for Trading	****	(3,027	)		2,164			(5,191	)

2-8

Mizuho Financial Group, Inc.

Mizuho Bank
	(Millions of yen)
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Bonds	****	(172,137	)		(28,223	)		(143,914	)
Gains on Sales and Others	****	132,236	****		(5,396	)		137,632
Losses on Sales and Others	****	(302,742	)		(20,540	)		(282,201	)
Impairment (Devaluation)	****	(766	)		762			(1,529	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		—			—
Gains (Losses) on Derivatives other than for Trading	****	(864	)		(3,048	)		2,184
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Stocks	****	280,524	****		163,760			116,763
Gains on Sales	****	382,747	****		92,684			290,063
Losses on Sales	****	(86,366	)		71,430			(157,797	)
Impairment (Devaluation)	****	(12,829	)		(2,520	)		(10,309	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		2			(2	)
Gains (Losses) on Derivatives other than for Trading	****	(3,027	)		2,164			(5,191	)
Mizuho Trust & Banking									****
	(Millions of yen)
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Bonds	****	453	****		455			(2	)
Gains on Sales and Others	****	465	****		458			7
Losses on Sales and Others	****	(12	)		(3	)		(9	)
Impairment (Devaluation)	****	—	****		—			—
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		—			—
Gains (Losses) on Derivatives other than for Trading	****	—	****		—			—
	Fiscal 2025						Fiscal 2024
				Change
Net Gains (Losses) related to Stocks	****	27,986	****		13,015			14,971
Gains on Sales	****	28,151	****		12,128			16,023
Losses on Sales	****	(161	)		865			(1,027	)
Impairment (Devaluation)	****	(3	)		21			(24	)
Reversal of (Provision for) Allowance for Investment Losses	****	—	****		—			—
Gains (Losses) on Derivatives other than for Trading	****	—	****		—			—

2-9

Mizuho Financial Group, Inc.

5. Unrealized Gains/Losses on Securities

•	Stocks and others without a quoted market price and Investments in Partnerships are excluded.<br>

Consolidated

(1) OtherSecurities

		(Millions of yen)
		As of March 31, 2026											As of March 31, 2025
		Book Value<br>(= Fair Value)			Unrealized Gains/Losses								Book Value<br>(= Fair Value)	Unrealized Gains/Losses
								Gains			Losses					Gains	Losses
Other Securities	****	35,809,154	****	****	1,878,505	****	****	2,406,203	****	****	527,698	****	28,315,442	1,244,399		1,851,895	607,496
Japanese Stocks	****	3,021,598	****	****	2,323,197	****	****	2,324,436	****	****	1,239	****	2,602,868	1,785,453		1,791,933	6,480
Japanese Bonds	****	16,783,354	****	****	(138,563	)	****	7,122	****	****	145,685	****	11,250,832	(79,654	)	7,249	86,903
Japanese Government Bonds	****	14,924,920	****	****	(58,728	)	****	322	****	****	59,051	****	8,370,439	(18,664	)	64	18,728
Other	****	16,004,201	****	****	(306,128	)	****	74,644	****	****	380,773	****	14,461,741	(461,398	)	52,713	514,112
Foreign Bonds	****	12,846,710	****	****	(321,105	)	****	14,099	****	****	335,204	****	12,116,540	(384,921	)	18,368	403,290

* In addition to “Securities” on the consolidated balance sheets, NCDs<br>in “Cash and Due from Banks,” certain items in “Monetary Claims Bought” and certain items in “Other Assets” are also included.<br>* 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 March 31, 2026 and March 31, 2025 are (27,984) million (Foreign Bonds (33,769) million and Japanese Government Bonds 4,741 million) and<br>33,528 million (Foreign Bonds 39,715 million and Japanese Government Bonds 975 million), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of March 31, 2026 and<br>March 31, 2025 are 1,850,520 million (Foreign Bonds (354,874) million and Japanese Government Bonds (53,987) million) and 1,277,928 million (Foreign Bonds (345,206) million and Japanese Government Bonds<br>(17,688) million), respectively. * Unrealized Gains/Losses on Other Securities as of March 31, 2026 and<br>March 31, 2025 include translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships, and are recorded directly to Net Assets after tax and consolidation adjustments, excluding the<br>amount recognized in the consolidated balance sheet by applying the fair-value hedge accounting and others. <br>(2) Bonds Held to Maturity																		****
		(Millions of yen)
		As of March 31, 2026											As of March 31, 2025
		Book Value			Unrealized Gains/Losses								Book Value	Unrealized Gains/Losses
								Gains			Losses					Gains	Losses
Bonds Held to Maturity	****	4,849,445	****	****	(138,382	)	****	36,804	****	****	175,186	****	4,183,129	(155,748	)	23,297	179,045

All values are in Japanese Yen.

Non-Consolidated

(1) Other Securities

Aggregate Figures for the 2Banks

		(Millions of yen)
		As of March 31, 2026											As of March 31, 2025
		Book Value<br>(= Fair Value)			Unrealized Gains/Losses								Book Value<br>(= Fair Value)	Unrealized Gains/Losses
								Gains			Losses					Gains	Losses
Other Securities	****	34,694,344	****	****	1,795,139	****	****	2,321,861	****	****	526,721	****	27,411,717	1,172,231		1,775,925	603,694
Japanese Stocks	****	2,925,435	****	****	2,240,911	****	****	2,242,175	****	****	1,264	****	2,516,624	1,713,916		1,719,812	5,896
Japanese Bonds	****	16,735,050	****	****	(138,510	)	****	7,116	****	****	145,627	****	11,193,302	(78,786	)	7,249	86,035
Japanese Government Bonds	****	14,921,775	****	****	(58,728	)	****	322	****	****	59,051	****	8,359,271	(18,664	)	64	18,728
Other	****	15,033,858	****	****	(307,260	)	****	72,569	****	****	379,830	****	13,701,790	(462,898	)	48,863	511,761
Foreign Bonds	****	12,106,852	****	****	(322,292	)	****	12,659	****	****	334,951	****	11,465,424	(386,209	)	15,035	401,245
Mizuho Bank
Other Securities	****	34,412,236	****	****	1,684,756	****	****	2,210,574	****	****	525,817	****	27,108,684	1,074,796		1,677,413	602,617
Japanese Stocks	****	2,782,662	****	****	2,129,942	****	****	2,130,979	****	****	1,036	****	2,370,411	1,616,347		1,621,572	5,225
Japanese Bonds	****	16,599,502	****	****	(137,932	)	****	7,061	****	****	144,994	****	11,040,790	(78,566	)	7,101	85,667
Japanese Government Bonds	****	14,821,965	****	****	(58,688	)	****	322	****	****	59,011	****	8,260,550	(18,643	)	64	18,707
Other	****	15,030,070	****	****	(307,253	)	****	72,533	****	****	379,786	****	13,697,483	(462,984	)	48,739	511,724
Foreign Bonds	****	12,106,852	****	****	(322,292	)	****	12,659	****	****	334,951	****	11,465,424	(386,209	)	15,035	401,245
Mizuho Trust & Banking
Other Securities	****	282,108	****	****	110,382	****	****	111,287	****	****	904	****	303,032	97,434		98,511	1,077
Japanese Stocks	****	142,772	****	****	110,968	****	****	111,196	****	****	227	****	146,213	97,568		98,239	671
Japanese Bonds	****	135,547	****	****	(578	)	****	54	****	****	633	****	152,511	(220	)	147	368
Japanese Government Bonds	****	99,810	****	****	(40	)	****	—	****	****	40	****	98,720	(21	)	—	21
Other	****	3,787	****	****	(7	)	****	36	****	****	43	****	4,307	86		123	37
Foreign Bonds	****	—	****	****	—	****	****	—	****	****	—	****	—	—		—	—

* In addition to “Securities” on the balance sheets, NCDs in<br>“Cash and Due from Banks” and certain items in “Monetary Claims Bought” are also included.<br>* 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 March 31, 2026 and March 31, 2025 are (27,984) million (Foreign Bonds (33,769) million and Japanese Government<br>Bonds 4,741 million) and 33,528 million (Foreign Bonds 39,715 million and Japanese Government Bonds 975 million), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments<br>(aggregate figures for the 2 banks) as of March 31, 2026 and March 31, 2025 are 1,767,155 million (Foreign Bonds (356,062) million and Japanese Government Bonds (53,946) million) and 1,205,759 million (Foreign<br>Bonds (346,494) million and Japanese Government Bonds (17,667) million), respectively. * Unrealized<br>Gains/Losses on Other Securities as of March 31, 2026 and March 31, 2025 include translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships, and are recorded directly to Net Assets<br>after tax adjustment, excluding the amount recognized in the balance sheet by applying the fair-value hedge accounting.

All values are in Japanese Yen.

2-10

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity

Aggregate Figures for the 2 Banks

	(Millions of yen)
	As of March 31, 2026												As of March 31, 2025
				Unrealized Gains/Losses											Unrealized Gains/Losses
	Book Value						Gains			Losses			Book Value					Gains			Losses
Aggregate Figures	****	4,849,445	****	****	(138,382	)	****	36,804	****	****	175,186	****		4,183,129		(155,748	)		23,297			179,045
Mizuho Bank	****	4,849,445	****	****	(138,382	)	****	36,804	****	****	175,186	****		4,183,129		(155,748	)		23,297			179,045
Mizuho Trust & Banking	****	—	****	****	—	****	****	—	****	****	—	****		—		—			—			—
(3) Investment in Subsidiaries and Affiliates<br><br><br><br> <br>Aggregate Figures for the 2 Banks																				<br><br><br><br> <br>
	(Millions of yen)
	As of March 31, 2026												As of March 31, 2025
				Unrealized Gains/Losses											Unrealized Gains/Losses
	Book Value						Gains			Losses			Book Value					Gains			Losses
Aggregate Figures	****	106,131	****	****	418,452	****	****	418,452	****	****	—	****		106,131		276,514			276,514			—
Mizuho Bank	****	106,131	****	****	418,452	****	****	418,452	****	****	—	****		106,131		276,514			276,514			—
Mizuho Trust & Banking	****	—	****	****	—	****	****	—	****	****	—	****		—		—			—			—

(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 and others. 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

	(Millions of yen)
	As of March 31, 2026						As ofMarch 31,2025
	Unrealized Gains/Losses						UnrealizedGains/Losses
				Change
Other Securities	****	1,847,002	****		636,651			1,210,350
Japanese Stocks	****	2,291,598	****		543,040			1,748,558
Japanese Bonds	****	(138,563	)		(58,909	)		(79,654	)
Japanese Government Bonds	****	(58,728	)		(40,064	)		(18,664	)
Other	****	(306,032	)		152,520			(458,553	)
Foreign Bonds	****	(321,008	)		61,067			(382,076	)

Non-Consolidated

Aggregate Figures for the 2 Banks

	(Millions of yen)
	As of March 31, 2026						As ofMarch 31,2025
	Unrealized Gains/Losses						UnrealizedGains/Losses
				Change
Other Securities	****	1,764,315	****		628,204			1,136,110
Japanese Stocks	****	2,210,086	****		532,290			1,677,795
Japanese Bonds	****	(138,510	)		(59,724	)		(78,786	)
Japanese Government Bonds	****	(58,728	)		(40,064	)		(18,664	)
Other	****	(307,260	)		155,637			(462,898	)
Foreign Bonds	****	(322,292	)		63,917			(386,209	)

2-11

Mizuho Financial Group, Inc.

6. Projected Redemption Amounts for Securities

•	The redemption schedule by term for Bonds Held to Maturity and Other Securities with maturities is asfollows:

Non-Consolidated

Aggregate Figures for the 2 Banks

	(Billions of yen)
	Maturity as of March 31, 2026												Change												Maturity as of March 31, 2025
	Within1 year			1 - 5<br>years			5 - 10<br>years			Over10 years			Within1 year			1 - 5<br>years			5 - 10<br>years			Over10 years			Within1 year		1 - 5<br>years		5 - 10<br>years		Over10 years
Japanese Bonds	****	12,396.0	****	****	3,243.8	****	****	1,241.5	****	****	399.9	****		5,556.4			(205.2	)		255.2			3.6			6,839.6		3,449.0		986.3		396.3
Japanese Government Bonds	****	12,137.1	****	****	2,186.4	****	****	1,045.1	****	****	20.0	****		5,984.8			132.3			475.6			20.0			6,152.2		2,054.1		569.5		—
Japanese Local Government Bonds	****	40.5	****	****	65.2	****	****	51.4	****	****	0.3	****		(21.3	)		(186.1	)		(200.1	)		(7.2	)		61.8		251.4		251.6		7.5
Japanese Corporate Bonds	****	218.4	****	****	992.1	****	****	144.9	****	****	379.6	****		(407.1	)		(151.3	)		(20.1	)		(9.1	)		625.5		1,143.5		165.1		388.8
Other	****	5,454.9	****	****	4,579.8	****	****	1,240.9	****	****	6,911.7	****		2,472.0			(75.0	)		(287.7	)		(509.5	)		2,982.8		4,654.8		1,528.7		7,421.2
Mizuho Bank
Japanese Bonds	****	12,290.1	****	****	3,213.5	****	****	1,241.4	****	****	399.9	****		5,556.1			(188.4	)		255.2			3.6			6,734.0		3,402.0		986.2		396.3
Japanese Government Bonds	****	12,037.1	****	****	2,186.4	****	****	1,045.1	****	****	20.0	****		5,983.6			132.3			475.6			20.0			6,053.4		2,054.1		569.5		—
Japanese Local Government Bonds	****	40.5	****	****	65.2	****	****	51.4	****	****	0.3	****		(21.3	)		(186.1	)		(200.1	)		(7.2	)		61.8		251.4		251.6		7.5
Japanese Corporate Bonds	****	212.5	****	****	961.8	****	****	144.8	****	****	379.6	****		(406.2	)		(134.5	)		(20.1	)		(9.1	)		618.7		1,096.4		165.0		388.8
Other	****	5,454.6	****	****	4,571.2	****	****	1,233.8	****	****	6,911.7	****		2,473.2			(75.8	)		(292.8	)		(509.5	)		2,981.3		4,647.1		1,526.6		7,421.2
Mizuho Trust & Banking
Japanese Bonds	****	105.8	****	****	30.2	****	****	0.1	****	****	—	****		0.2			(16.7	)		—			—			105.6		47.0		0.1		—
Japanese Government Bonds	****	100.0	****	****	—	****	****	—	****	****	—	****		1.2			—			—			—			98.8		—		—		—
Japanese Local Government Bonds	****	—	****	****	—	****	****	—	****	****	—	****		—			—			—			—			—		—		—		—
Japanese Corporate Bonds	****	5.8	****	****	30.2	****	****	0.1	****	****	—	****		(0.9	)		(16.7	)		—			—			6.8		47.0		0.1		—
Other	****	0.2	****	****	8.5	****	****	7.1	****	****	—	****		(1.1	)		0.8			5.1			—			1.4		7.7		2.0		—

2-12

Mizuho Financial Group, Inc.

7. Employee Retirement Benefits

Non-Consolidated

Retirement Benefit Obligations

Aggregate Figures forthe 2 Banks

		(Millions of yen)
		Fiscal 2025			Change			Fiscal 2024
Retirement Benefit Obligations	(A)	****	802,089	****		(70,541	)		872,630
Discount Rate (%)		****	1.31~4.14	****					0.79~2.88

Total Fair Value of Plan Assets	(B)	****	1,408,482	****		(75,815	)		1,484,297
Unrecognized Actuarial Differences	(C)	****	(298,178	)		(135,377	)		(162,800	)
Prepaid Pension Cost/Reserve for Employee Retirement Benefits	(B)+ (C)-(A)	****	308,214	****		(140,651	)		448,866
Mizuho Bank
Retirement Benefit Obligations	(A)	****	700,416	****		(62,625	)		763,041
Discount Rate (%)		****	1.31~4.14	****					0.79~2.88

Total Fair Value of Plan Assets	(B)	****	1,210,113	****		(64,095	)		1,274,208
Unrecognized Actuarial Differences	(C)	****	(256,889	)		(121,368	)		(135,521	)
Prepaid Pension Cost	(B)+ (C)-(A)	****	252,806	****		(122,838	)		375,645
Mizuho Trust & Banking
Retirement Benefit Obligations	(A)	****	101,673	****		(7,915	)		109,589
Discount Rate (%)		****	1.31~4.14	****					0.79~2.88

Total Fair Value of Plan Assets	(B)	****	198,369	****		(11,719	)		210,089
Unrecognized Actuarial Differences	(C)	****	(41,288	)		(14,009	)		(27,279	)
Prepaid Pension Cost/Reserve for Employee Retirement Benefits	(B)+ (C)-(A)	****	55,408	****		(17,813	)		73,221

2-13

Mizuho Financial Group, Inc.

Income (Expenses) related to Employee Retirement Benefits

Aggregate Figures for the 2 Banks

				(Millions of yen)
				Fiscal 2025			Change			Fiscal 2024
Service Cost				****	(10,296	)		1,383			(11,679)
Interest Cost				****	(14,287	)		(3,666	)		(10,621)
Expected Return on Plan Assets				****	26,402	****		914			25,487
Accumulation (Amortization) of Unrecognized Actuarial Differences				****	15,526	****		(21,403	)		36,930
Accumulation (Amortization) of Unrecognized Prior Service Cost				****	—	****		(7,310	)		7,310
Gains on Cancellation of Employee Retirement Benefit Trust				****	69,762	****		57,366			12,396
Other				****	(8,932	)		(1,825	)		(7,107)

Total				****	78,175	****		25,458			52,716

Note: Gains<br>on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).
Mizuho Bank
				(Millions of yen)
				Fiscal 2025			Change			Fiscal 2024
Service Cost				****	(8,684	)		1,188			(9,872)
Interest Cost				****	(12,532	)		(3,201	)		(9,331)
Expected Return on Plan Assets				****	23,171	****		1,138			22,032
Accumulation (Amortization) of Unrecognized Actuarial Differences				****	12,246	****		(16,631	)		28,878
Accumulation (Amortization) of Unrecognized Prior Service Cost				****	—	****		(6,368	)		6,368
Gains on Cancellation of Employee Retirement Benefit Trust				****	61,850	****		55,130			6,720
Other				****	(7,620	)		(1,554	)		(6,066)

Total				****	68,431	****		29,701			38,730

Note: Gains<br>on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).
Mizuho Trust & Banking
				(Millions of yen)
				Fiscal 2025			Change			Fiscal 2024
Service Cost				****	(1,611	)		195			(1,807)
Interest Cost				****	(1,754	)		(465	)		(1,289)
Expected Return on Plan Assets				****	3,231	****		(223	)		3,454
Accumulation (Amortization) of Unrecognized Actuarial Differences				****	3,279	****		(4,771	)		8,051
Accumulation (Amortization) of Unrecognized Prior Service Cost				****	—	****		(941	)		941
Gains on Cancellation of Employee Retirement Benefit Trust				****	7,911	****		2,235			5,676
Other				****	(1,312	)		(270	)		(1,041)

Total	****	****	****	****	9,743	****		(4,242	)		13,986

Note: Gains on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses).

2-14

Mizuho Financial Group, Inc.

Consolidated

Retirement Benefit Obligations

				(Millions of yen)
				As of March 31,<br>2026			Change			As of March 31,2025
Retirement Benefit Obligations		(A)		****	989,938	****		(78,349	)		1,068,287
Fair Value of Plan Assets		(B)		****	1,693,687	****		(65,123	)		1,758,811
Unrecognized Actuarial Differences		(C)		****	(324,261	)		(150,783	)		(173,478	)
Net Defined Benefit Asset		(D)		****	776,413	****		17,630			758,783
Net Defined Benefit Liability		(A)-(B)+(D)		****	72,664	****		4,404			68,259
Income (Expenses) related to Employee RetirementBenefits												****
				(Millions of yen)
				Fiscal 2025			Change			Fiscal 2024
Service Cost	****	****	****	****	(17,988	)		1,788			(19,776	)
Interest Cost				****	(17,383	)		(4,577	)		(12,806	)
Expected Return on Plan Assets				****	31,059	****		467			30,592
Accumulation (Amortization) of Unrecognized Actuarial Differences				****	15,906	****		(22,426	)		38,332
Accumulation (Amortization) of Unrecognized Prior Service Cost				****	22	****		(9,015	)		9,038
Gains on Cancellation of Employee Retirement Benefit Trust				****	69,762	****		57,366			12,396
Other				****	(26,111	)		(4,469	)		(21,641	)

Total				****	55,268	****		19,132			36,135

Note: Accumulation (Amortization) of Unrecognized Prior Service Cost and Gains on Cancellation of Employee Retirement Benefit Trust are recorded to Extraordinary Gains (Losses), except for a portion thereof.

2-15

Mizuho Financial Group, Inc.

8. Capital Ratio

Mizuho Financial Group

International Standard

	Consolidated						(%, Billions of yen)
	As of March 31, 2026(Preliminary)			Change			As of March 31, 2025
(1) Total Capital Ratio	****	17.61	****		(0.14	)		17.75
(2) Tier 1 Capital Ratio	****	15.73	****		0.08			15.65
(3) Common Equity Tier 1 Capital Ratio	****	13.16	****		(0.07	)		13.23
(4) Total Capital	****	14,252.8	****		1,497.0			12,755.7
(5) Tier 1 Capital	****	12,733.5	****		1,485.3			11,248.2
(6) Common Equity Tier 1 Capital	****	10,650.5	****		1,144.2			9,506.2
(7) Risk weighted Assets	****	80,925.3	****		9,080.9			71,844.4
(8) Total Required Capital (7) X8%	****	6,474.0	****		726.4			5,747.5
Mizuho Bank<br> <br><br><br><br>International Standard
	Consolidated								Non-Consolidated
	As of March 31, 2026(Preliminary)			Change			As of March 31, 2025		As of March 31, 2026(Preliminary)
(1) Total Capital Ratio	****	16.38	****		0.11			16.27	****	15.04	****
(2) Tier 1 Capital Ratio	****	14.38	****		0.32			14.06	****	12.87	****
(3) Common Equity Tier 1 Capital Ratio	****	11.57	****		0.15			11.42	****	9.85	****
(4) Total Capital	****	12,161.9	****		1,443.0			10,718.8	****	10,319.3	****
(5) Tier 1 Capital	****	10,673.0	****		1,405.6			9,267.3	****	8,832.9	****
(6) Common Equity Tier 1 Capital	****	8,586.8	****		1,057.7			7,529.0	****	6,758.5	****
(7) Risk weighted Assets	****	74,205.5	****		8,326.1			65,879.4	****	68,595.7	****
(8) Total Required Capital (7) X8%	****	5,936.4	****		666.0			5,270.3	****	5,487.6	****
Mizuho Trust & Banking<br> <br><br><br><br>Domestic Standard
	Consolidated								Non-Consolidated
	As of March 31, 2026(Preliminary)			Change			As of March 31, 2025		As of March 31, 2026(Preliminary)
(1) Capital Ratio	****	29.28	****		—			—	****	29.04	****
(2) Core Capital	****	4,364	****		—			—	****	4,164	****
(3) Risk-weighted Assets	****	14,900	****		—			—	****	14,339	****
(4) Total Required Capital (3) X4%	****	596	****		—			—	****	573	****
Mizuho Trust & Banking<br> <br><br><br><br>International Standard (Reference)
	Consolidated								Non-Consolidated
	As of March 31, 2026(Preliminary)			Change			As of March 31, 2025		As of March 31, 2026(Preliminary)
(1) Total Capital Ratio	****	32.32	****		0.72			31.60	****	32.24	****
(2) Tier 1 Capital Ratio	****	32.25	****		0.65			31.60	****	32.16	****
(3) Common Equity Tier 1 Capital Ratio	****	32.24	****		0.64			31.60	****	32.16	****

Note: Risk-adjusted capital ratio of Mizuho Financial Group is calculated in accordance with the Notification of the Financial Services Agency No.20, 2006. Risk-adjusted capital ratio of Mizuho Bank and Mizuho Trust & Banking are calculated in accordance with the Notification of the Financial Services Agency No.19, 2006.

2-16

Mizuho Financial Group, Inc.

II. REVIEW OF CREDITS

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

•	The figures below are presented net of partial direct write-offs.
•	Treatment of accrued interest is based on the results of the self-assessment of assets.
---	---

(All loans to obligors classified in the self-assessment of assets as Bankrupt Obligors, Substantially Bankrupt Obligors, and Intensive Control Obligors are categorized as non-accrual loans.)

Consolidated

	(Millions of yen)
	As ofMarch 31,<br>2026						As ofMarch 31,2025
				Change
Claims against Bankrupt and Substantially Bankrupt Obligors	****	35,220	****		2,736			32,484
Claims with Collection Risk	****	474,937	****		(101,263	)		576,200
Claims for Special Attention	****	409,922	****		(28,704	)		438,626
Loans Past Due for 3 Months or More	****	3,919	****		3,648			271
Restructured Loans	****	406,003	****		(32,352	)		438,355
Sub-total[1]	****	920,080	****		(127,231	)		1,047,311
Normal Claims	****	113,879,307	****		7,449,146			106,430,161

Total[2]	****	114,799,388	****		7,321,915			107,477,473

Above figures are presented net of partial direct write-offs, the amounts of which<br>are indicated in the table below.
Amount of Partial Direct Write-offs	****	332,099	****		236,150			95,949
	(%)
NPL ratio[1]/[2]	****	0.80	****		(0.17	)		0.97
Trust Account
	(Millions of yen)
	As of<br>March 31,2026						As ofMarch 31,2025
				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	****	1,002	****		(389	)		1,392

Total[4]	****	1,002	****		(389	)		1,392

	(%)
NPL ratio[3]/[4]	****	—	****		—			—

2-17

Mizuho Financial Group, Inc.

Consolidated + Trust Account
	(Millions of yen)
	As of<br>March 31,2026						As of<br>March 31,2025
				Change
Claims against Bankrupt and Substantially Bankrupt Obligors	****	35,220	****		2,736			32,484
Claims with Collection Risk	****	474,937	****		(101,263	)		576,200
Claims for Special Attention	****	409,922	****		(28,704	)		438,626
Loans Past Due for 3 Months or More	****	3,919	****		3,648			271
Restructured Loans	****	406,003	****		(32,352	)		438,355
Sub-total[5]	****	920,080	****		(127,231	)		1,047,311
Normal Claims	****	113,880,310	****		7,448,756			106,431,553

Total[6]	****	114,800,391	****		7,321,525			107,478,865

Above figures are presented net of partial direct write-offs, the amounts of which<br>are indicated in the table below.
Amount of Partial Direct Write-offs	****	332,099	****		236,150			95,949
	(%)
NPL ratio[5]/[6]	****	0.80	****		(0.17	)		0.97

Trust account represents trust accounts with contracts indemnifying the principal amounts.

2-18

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account +Trust Account)

	(Millions of yen)
	As of<br>March 31,2026			Change			As of<br>March 31,2025
Claims against Bankrupt and Substantially Bankrupt Obligors	****	31,973	****		9,743			22,229
Claims with Collection Risk	****	463,089	****		(106,281	)		569,370
Claims for Special Attention	****	397,038	****		(29,920	)		426,959
Loans Past Due for 3 Months or More	****	3,919	****		3,648			271
Restructured Loans	****	393,119	****		(33,568	)		426,688
Sub-total[1]	****	892,101	****		(126,458	)		1,018,559
Normal Claims	****	116,124,057	****		8,065,270			108,058,786

Total[2]	****	117,016,158	****		7,938,812			109,077,346

Above figures are presented net of partial direct write-offs, the amounts of which are<br>indicated in the table below.
Amount of Partial Direct Write-offs	****	329,203	****		235,192			94,011
	(%)
NPL ratio[1]/[2]		0.76			(0.17	)		0.93
Mizuho Bank
	(Millions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	31,927	****		9,776			22,151
Claims with Collection Risk	****	459,262	****		(102,532	)		561,794
Claims for Special Attention	****	394,440	****		(25,023	)		419,464
Loans Past Due for 3 Months or More	****	3,919	****		3,648			271
Restructured Loans	****	390,521	****		(28,671	)		419,192
Sub-total[3]	****	885,630	****		(117,779	)		1,003,410
Normal Claims	****	113,803,690	****		8,324,723			105,478,966

Total[4]	****	114,689,321	****		8,206,944			106,482,377

Above figures are presented net of partial direct write-offs, the amounts of which<br>are indicated in the table below.
Amount of Partial Direct Write-offs	****	328,933	****		235,156			93,777
	(%)
NPL ratio[3]/[4]	****	0.77	****		(0.17	)		0.94

2-19

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)

	(Millions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	45	****	(32	)	78
Claims with Collection Risk	****	3,826	****	(3,748	)	7,575
Claims for Special Attention	****	2,598	****	(4,896	)	7,495
Loans Past Due for 3 Months or More	****	—	****	—		—
Restructured Loans	****	2,598	****	(4,896	)	7,495
Sub-total[5]	****	6,470	****	(8,678	)	15,148
Normal Claims	****	2,319,364	****	(259,063	)	2,578,427

Total[6]	****	2,325,834	****	(267,742	)	2,593,576

Above figures are presented net of partial direct write-offs, the amounts of which<br>are indicated in the table below.
Amount of Partial Direct Write-offs	****	269	****	35		233
	(%)
NPL ratio[5]/[6]	****	0.27	****	(0.30	)	0.58
(Trust Account)
	(Millions 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	****	1,002	****	(389	)	1,392

Total[8]	****	1,002	****	(389	)	1,392

	(%)
NPL ratio[7]/[8]	****	—	****	—		—
Trust account represents trust accounts with contracts indemnifying the principal<br>amounts.

2-20

Mizuho Financial Group, Inc.

2. Status of Allowances for Loan Losses

Consolidated

	(Millions of yen)
	As ofMarch 31,2026			Change			As ofMarch 31,2025
Allowances for Loan Losses	****	637,302	****		(118,449	)		755,751
General Allowance for Loan Losses	****	393,657	****		57,371			336,285
Specific Allowance for Loan Losses	****	240,939	****		(154,187	)		395,127
Allowance for Loan Losses to Restructuring Countries	****	2,705	****		(21,633	)		24,339
Above figures are presented net of partial direct write-offs, the amounts of which are indicated<br>in the table below.
Amount of Partial Direct Write-offs	****	334,727	****		238,509			96,218
Non-Consolidated<br><br><br><br> <br>Aggregate Figures for the 2 Banks
	(Millions of yen)
	As ofMarch 31,2026			Change			As ofMarch 31,2025
Allowances for Loan Losses	****	615,783	****		(110,386	)		726,169
General Allowance for Loan Losses	****	379,395	****		58,679			320,716
Specific Allowance for Loan Losses	****	233,681	****		(147,432	)		381,113
Allowance for Loan Losses to Restructuring Countries	****	2,705	****		(21,633	)		24,339
Above figures are presented net of partial direct write-offs, the amounts of which are indicated<br>in the table below.
Amount of Partial Direct Write-offs	****	331,510	****		237,499			94,011
Mizuho Bank
Allowances for Loan Losses	****	609,891	****		(109,378	)		719,269
General Allowance for Loan Losses	****	373,604	****		58,738			314,866
Specific Allowance for Loan Losses	****	233,581	****		(146,483	)		380,064
Allowance for Loan Losses to Restructuring Countries	****	2,705	****		(21,633	)		24,339
Above figures are presented net of partial direct write-offs, the amounts of which are indicated<br>in the table below.
Amount of Partial Direct Write-offs	****	331,240	****		237,463			93,777
Mizuho Trust & Banking
Allowances for Loan Losses	****	5,891	****		(1,007	)		6,899
General Allowance for Loan Losses	****	5,791	****		(58	)		5,850
Specific Allowance for Loan Losses	****	100	****		(949	)		1,049
Allowance for Loan Losses to Restructuring Countries	****	—	****		—			—
Above figures are presented net of partial direct write-offs, the amounts of which are indicated<br>in the table below.
Amount of Partial Direct Write-offs	****	269	****		35			233

Allowance for Entrusted Loan Losses (¥3 million and ¥4 million for March 31, 2026 and March 31, 2025, respectively) is not included in the above figures for Trust Account.

2-21

Mizuho Financial Group, Inc.

3. Allowance Coverage Ratios for Non Performing Loans based on the BA and the FRA

Consolidated

	(%)
	As ofMarch 31,2026			Change			As ofMarch 31,2025
Mizuho Financial Group	****	69.26	****		(2.89	)		72.16
Above figures are presented net of partial direct write-offs.
Non-Consolidated
	(%)
	As ofMarch 31,2026			Change			As ofMarch 31,2025
Total	****	69.02	****		(2.26	)		71.29
Mizuho Bank	****	68.86	****		(2.81	)		71.68
Mizuho Trust & Banking (Banking Account)	****	91.06	****		45.51			45.54

Above figures are presented net of partial direct write-offs.

2-22

Mizuho Financial Group, Inc.

4. Coverage on Non Performing Loans based on the BA and the FRA

Non-Consolidated

(1) Non Performing Loans based on the BA and the FRA and Coverage Amount

Aggregate Figures for the 2 Banks (Banking Account)

	(Billions of yen)
	As ofMarch 31, 2026			Change			As ofMarch 31, 2025
Claims against Bankrupt and Substantially Bankrupt Obligors	****	31.9	****		9.7			22.2
Collateral, Guarantees, and equivalent	****	20.2	****		(1.1	)		21.4
Allowance for Losses	****	11.6	****		10.9			0.7
Claims with Collection Risk	****	463.0	****		(106.2	)		569.3
Collateral, Guarantees, and equivalent	****	171.8	****		37.2			134.5
Allowance for Losses	****	221.9	****		(158.3	)		380.3
Claims for Special Attention	****	397.0	****		(29.9	)		426.9
Collateral, Guarantees, and equivalent	****	115.9	****		(1.6	)		117.6
Allowance for Losses	****	82.8	****		(20.0	)		102.8
Total	****	892.1	****		(126.4	)		1,018.5
Collateral, Guarantees, and equivalent	****	308.0	****		34.4			273.6
Allowance for Losses	****	316.5	****		(167.4	)		483.9
Mizuho Bank
Claims against Bankrupt and Substantially Bankrupt Obligors	****	31.9	****		9.7			22.1
Collateral, Guarantees, and equivalent	****	20.2	****		(1.1	)		21.3
Allowance for Losses	****	11.6	****		10.9			0.7
Claims with Collection Risk	****	459.2	****		(102.5	)		561.7
Collateral, Guarantees, and equivalent	****	168.0	****		38.4			129.6
Allowance for Losses	****	221.8	****		(157.3	)		379.2
Claims for Special Attention	****	394.4	****		(25.0	)		419.4
Collateral, Guarantees, and equivalent	****	115.3	****		0.0			115.3
Allowance for Losses	****	82.5	****		(19.4	)		101.9
Total	****	885.6	****		(117.7	)		1,003.4
Collateral, Guarantees, and equivalent	****	303.7	****		37.3			266.3
Allowance for Losses	****	316.1	****		(165.9	)		482.0
Mizuho Trust & Banking (Banking Account)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	0.0	****		(0.0	)		0.0
Collateral, Guarantees, and equivalent	****	0.0	****		(0.0	)		0.0
Allowance for Losses	****	—	****	****	—	****	****	—	****
Claims with Collection Risk	****	3.8	****		(3.7	)		7.5
Collateral, Guarantees, and equivalent	****	3.7	****		(1.2	)		4.9
Allowance for Losses	****	0.0	****		(0.9	)		1.0
Claims for Special Attention	****	2.5	****		(4.8	)		7.4
Collateral, Guarantees, and equivalent	****	0.6	****		(1.7	)		2.3
Allowance for Losses	****	0.3	****		(0.5	)		0.9
Total	****	6.4	****		(8.6	)		15.1
Collateral, Guarantees, and equivalent	****	4.3	****		(2.9	)		7.3
Allowance for Losses	****	0.4	****		(1.5	)		1.9
Reference: Trust Account
Claims against Bankrupt and Substantially Bankrupt Obligors	****	—	****	****	—	****	****	—	****
Collateral, Guarantees, and equivalent	****	—	****	****	—	****	****	—	****
Claims with Collection Risk	****	—	****	****	—	****	****	—	****
Collateral, Guarantees, and equivalent	****	—	****	****	—	****	****	—	****
Claims for Special Attention	****	—	****	****	—	****	****	—	****
Collateral, Guarantees, and equivalent	****	—	****	****	—	****	****	—	****
Total	****	—	****	****	—	****	****	—	****
Collateral, Guarantees, and equivalent	****	—	****	****	—	****	****	—	****

Trust account represents trust accounts with contracts indemnifying the principal amounts.

2-23

Mizuho Financial Group, Inc.

(2) Coverage Ratio

Aggregate Figures for the 2 Banks (Banking Account)

	(Billions of yen)
	As ofMarch 31, 2026			Change			As ofMarch 31, 2025
Coverage Amount	****	624.6	****		(133.0	)		757.6
Allowances for Loan Losses	****	316.5	****		(167.4	)		483.9
Collateral, Guarantees, and equivalent	****	308.0	****		34.4			273.6
	(%)
Coverage Ratio	****	70.0	****		(4.3	)		74.3
Claims against Bankrupt and Substantially Bankrupt Obligors	****	100.0	****		—			100.0
Claims with Collection Risk	****	85.0	****		(5.3	)		90.4
Claims for Special Attention	****	50.0	****		(1.5	)		51.6
Claims against Special Attention Obligors	****	51.3	****		(0.4	)		51.7
Allowance Coverage Ratio against Non-collateralized<br>Claims
	(%)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	100.0	****		—			100.0
Claims with Collection Risk	****	76.2	****		(11.2	)		87.4
Claims for Special Attention	****	29.4	****		(3.7	)		33.2
Claims against Special Attention Obligors	****	29.2	****		(2.9	)		32.2
Reference: Allowance Coverage Ratio
	(%)
Claims against Special Attention Obligors	****	20.15	****		(2.81	)		22.97
Claims against Watch Obligors excluding Special Attention Obligors	****	3.72	****		0.69			3.03
Claims against Normal Obligors	****	0.18	****		0.03			0.14
Mizuho Bank
	(Billions of yen)
Coverage Amount	****	619.8	****		(128.5	)		748.3
Allowances for Loan Losses	****	316.1	****		(165.9	)		482.0
Collateral, Guarantees, and equivalent	****	303.7	****		37.3			266.3
	(%)
Coverage Ratio	****	69.9	****		(4.5	)		74.5
Claims against Bankrupt and Substantially Bankrupt Obligors	****	100.0	****		—			100.0
Claims with Collection Risk	****	84.9	****		(5.6	)		90.5
Claims for Special Attention	****	50.1	****		(1.6	)		51.8
Claims against Special Attention Obligors	****	51.4	****		(0.8	)		52.3
Allowance Coverage Ratio against<br>Non-collateralized Claims
	(%)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	100.0	****		—			100.0
Claims with Collection Risk	****	76.2	****		(11.5	)		87.7
Claims for Special Attention	****	29.5	****		(3.9	)		33.5
Claims against Special Attention Obligors	****	29.3	****		(3.3	)		32.7
Reference: Allowance Coverage Ratio
	(%)
Claims against Special Attention Obligors	****	20.20	****		(3.01	)		23.22
Claims against Watch Obligors excluding Special Attention Obligors	****	3.65	****		0.62			3.03
Claims against Normal Obligors	****	0.18	****		0.03			0.14

2-24

Mizuho Financial Group, Inc.

Mizuho Trust & Banking (Banking Account)

	(Billions of yen)
	As ofMarch 31, 2026			Change			As ofMarch 31, 2025
Coverage Amount	****	4.8	****		(4.4	)		9.2
Allowances for Loan Losses	****	0.4	****		(1.5	)		1.9
Collateral, Guarantees, and equivalent	****	4.3	****		(2.9	)		7.3
	(%)
Coverage Ratio	****	74.4	****		13.1			61.2
Claims against Bankrupt and Substantially Bankrupt Obligors	****	100.0	****		—			100.0
Claims with Collection Risk	****	99.7	****		20.7			78.9
Claims for Special Attention	****	36.6	****		(6.3	)		43.0
Claims against Special Attention Obligors	****	32.4	****		1.0			31.4
Allowance Coverage Ratio against Non-collateralized<br>Claims
	(%)
Claims against Bankrupt and Substantially Bankrupt Obligors	****	—	****		—			—
Claims with Collection Risk	****	90.2	****		50.7			39.4
Claims for Special Attention	****	17.1	****		(0.2	)		17.4
Claims against Special Attention Obligors	****	17.1	****		(0.2	)		17.3
Reference: Allowance Coverage Ratio
	(%)
Claims against Special Attention Obligors	****	13.97	****		(0.46	)		14.43
Claims against Watch Obligors excluding Special Attention Obligors	****	7.50	****		5.79			1.70
Claims against Normal Obligors	****	0.12	****		(0.02	)		0.14

2-25

Mizuho Financial Group, Inc.

5. Overview of Non-Performing Loans(“NPLs”)

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account)

(Billions of yen)

LOGO

Notes:		Claims for Special Attention are denoted on an individual loans basis.<br><br><br>Claims against Special Attention Obligors include all claims, not limited to Claims for Special Attention.

2-26

Mizuho Financial Group, Inc.

6. Results of Removal of NPLs from the Balance Sheet

Non-Consolidated

(1) Outstanding Balance of Claims against Bankrupt and Substantially Bankrupt Obligors and Claims with Collection Risk (under the BA and the FRA)

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

		(Billions of yen)
		Fiscal 2022			Fiscal 2023			Fiscal 2024			Fiscal 2025
		As ofMarch 31,2023			As ofMarch 31,2024			As ofMarch 31,2025			As of March 31, 2026
											MHBK		MHTB*		AggregateFigures forthe 2Banks			Change fromMarch 31,2025
Claims against Bankrupt and Substantially Bankrupt Obligors			34.0			15.9			9.3			18.9		0.0		18.9			9.6
Claims with Collection Risk			658.4			499.8			398.6			111.2		3.7		114.9			(283.6	)
Amount Categorized as above up to Fiscal 2022		****	692.5	****		515.7			408.0			130.1		3.7	****	133.9	****		(274.0	)
of which the amount which was in the process of being removed from the balancesheet			30.5			15.3			9.1			18.7		0.0		18.8			9.6
Claims against Bankrupt and Substantially Bankrupt Obligors						10.7			3.8			2.2		—		2.2			(1.5	)
Claims with Collection Risk						208.7			64.7			29.8		0.0		29.9			(34.8	)
Amount Newly Categorized as above during Fiscal 2023					****	219.5	****		68.5			32.1		0.0	****	32.1	****		(36.4	)
of which the amount which was in the process of being removed from the balancesheet						9.4			2.9			2.2		—		2.2			(0.7	)
Claims against Bankrupt and Substantially Bankrupt Obligors									9.0			2.3		—		2.3			(6.7	)
Claims with Collection Risk									105.9			60.1		—		60.1			(45.7	)
Amount Newly Categorized as above during Fiscal 2024								****	115.0	****		62.4		—	****	62.4	****		(52.5	)
of which the amount which was in the process of being removed from the balancesheet									5.8			1.8		—		1.8			(3.9	)
Claims against Bankrupt and Substantially Bankrupt Obligors												8.4		0.0		8.4			8.4
Claims with Collection Risk												257.9		0.0		258.0			258.0
Amount Newly Categorized as above during Fiscal 2025												266.4		0.0	****	266.4	****		266.4
of which the amount which was in the process of being removed from the balancesheet												8.4		0.0		8.4			8.4
Claims against Bankrupt and Substantially Bankrupt Obligors			34.0			26.6			22.2			31.9		0.0		31.9			9.7
Claims with Collection Risk			658.4			708.6			569.3			459.2		3.8		463.0			(106.2	)
Total			692.5			735.3			591.6			491.1		3.8		495.0			(96.5	)
of which the amount which was in the process of being removed from the balancesheet			30.5			24.7			17.9			31.3		0.0		31.3			13.4
*<br> Trust account represents trust accounts with contracts indemnifying the principal amounts.
---	---	---	---
*			denotes newly categorized amounts.

(2) Breakdown of Reasons for Removal of NPLs from the Balance Sheet in Fiscal 2025

	(Billions of yen)
	Aggregate Figuresfor the 2 Banks(Banking Account<br>+ Trust Account)			MHBK			MHTB(Banking Account+ Trust Account)
Liquidation		(3.1	)		(3.1	)		—
Restructuring		(5.9	)		(5.9	)		—
Improvement in Business Performance due to Restructuring		—			—			—
Loan Sales		(19.2	)		(16.7	)		(2.4	)
Direct Write-off		(223.8	)		(223.8	)		(0.0	)
Other		(110.7	)		(109.4	)		(1.3	)
Debt recovery		(36.4	)		(35.4	)		(1.0	)
Improvement in Business Performance		(74.2	)		(74.0	)		(0.2	)

Total		(363.0	)		(359.1	)		(3.8	)

2-27

Mizuho Financial Group, Inc.

7. Status of Loans by Industry

(1) Outstanding Balances by Industry

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

		(Billions of yen)
		As of March 31, 2026						As of March 31, 2025
		OutstandingBalance			Change			OutstandingBalance
Domestic Total (excluding Loans Booked Offshore)		****	66,158.2	****		1,818.9			64,339.3
Manufacturing		****	11,182.1	****		872.4			10,309.7
Agriculture & Forestry		****	49.1	****		0.1			48.9
Fishery		****	12.7	****		(0.1	)		12.9
Mining, Quarrying Industry & Gravel Extraction Industry		****	193.3	****		33.0			160.3
Construction		****	1,572.6	****		517.4			1,055.1
Utilities		****	3,152.8	****		(44.4	)		3,197.3
Communication		****	1,782.6	****		611.9			1,170.7
Transportation & Postal Industry		****	2,371.5	****		104.6			2,266.9
Wholesale & Retail		****	5,172.9	****		293.2			4,879.6
Finance & Insurance		****	9,967.3	****		647.2			9,320.1
Real Estate		****	13,449.8	****		1,002.2			12,447.6
Commodity Lease		****	3,695.6	****		452.2			3,243.4
Service Industries		****	3,107.0	****		86.3			3,020.7
Local Governments		****	308.1	****		(60.8	)		368.9
Governments		****	—	****		(2,982.7	)		2,982.7
Other		****	10,140.0	****		286.0			9,853.9
Overseas Total (including Loans Booked Offshore)		****	34,866.9	****		4,531.9			30,335.0
Governments		****	441.7	****		148.6			293.0
Financial Institutions		****	15,787.6	****		2,009.8			13,777.7
Other		****	18,637.6	****		2,373.3			16,264.2

Total		****	101,025.1	****		6,350.8			94,674.3

*	Loans to Finance & Insurance sector includes loans to MHFG as follows:
---	---
As of March 31, 2026:		¥815.0 billion (from MHBK)
---	---	---
As of March 31, 2025:		¥530.0 billion (from MHBK)
*	Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts.
---	---

2-28

Mizuho Financial Group, Inc.

		(Billions of yen)
		As of March 31, 2026						As of March 31, 2025
		OutstandingBalance			Change			Outstanding<br>Balance
Mizuho Bank
Domestic Total (excluding Loans Booked Offshore)		****	62,758.8	****		1,478.6			61,280.1
Manufacturing		****	10,653.7	****		663.0			9,990.7
Agriculture & Forestry		****	49.1	****		0.1			48.9
Fishery		****	12.7	****		(0.1	)		12.9
Mining, Quarrying Industry & Gravel Extraction Industry		****	192.5	****		33.2			159.2
Construction		****	1,521.0	****		513.5			1,007.5
Utilities		****	2,959.6	****		(23.0	)		2,982.6
Communication		****	1,744.7	****		611.7			1,133.0
Transportation & Postal Industry		****	2,253.9	****		113.0			2,140.8
Wholesale & Retail		****	5,067.5	****		288.3			4,779.1
Finance & Insurance		****	9,226.0	****		364.7			8,861.2
Real Estate		****	12,231.2	****		1,128.8			11,102.3
Commodity Lease		****	3,513.7	****		449.2			3,064.5
Service Industries		****	3,090.3	****		93.4			2,996.8
Local Governments		****	308.1	****		(60.6	)		368.7
Governments		****	—	****		(2,982.7	)		2,982.7
Other		****	9,934.2	****		285.6			9,648.5
Overseas Total (including Loans Booked Offshore)		****	34,866.9	****		4,531.9			30,335.0
Governments		****	441.7	****		148.6			293.0
Financial Institutions		****	15,787.6	****		2,009.8			13,777.7
Other		****	18,637.6	****		2,373.3			16,264.2

Total		****	97,625.7	****		6,010.5			91,615.2

Mizuho Trust & Banking (Banking Account + Trust Account)
Domestic Total (excluding Loans Booked Offshore)		****	3,399.3	****		340.2			3,059.1
Manufacturing		****	528.4	****		209.4			319.0
Agriculture & Forestry		****	0.0	****		(0.0	)		0.0
Fishery		****	—	****		—			—
Mining, Quarrying Industry & Gravel Extraction Industry		****	0.8	****		(0.2	)		1.0
Construction		****	51.5	****		3.9			47.6
Utilities		****	193.1	****		(21.4	)		214.6
Communication		****	37.9	****		0.2			37.7
Transportation & Postal Industry		****	117.5	****		(8.4	)		126.0
Wholesale & Retail		****	105.3	****		4.9			100.4
Finance & Insurance		****	741.3	****		282.4			458.8
Real Estate		****	1,218.6	****		(126.6	)		1,345.2
Commodity Lease		****	181.9	****		3.0			178.8
Service Industries		****	16.6	****		(7.1	)		23.8
Local Governments		****	—	****		(0.2	)		0.2
Governments		****	—	****		—			—
Other		****	205.8	****		0.3			205.4
Overseas Total (including Loans Booked Offshore)		****	—	****		—			—
Governments		****	—	****		—			—
Financial Institutions		****	—	****		—			—
Other		****	—	****		—			—

Total		****	3,399.3	****		340.2			3,059.1

*	Amounts of Outstanding Balances are the aggregate figures for banking and trust accounts.
---	---

2-29

Mizuho Financial Group, Inc.

(2) Non Performing Loans based on the BA and the FRA and Coverage Ratio by Industry

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

		(Billions of yen, %)
		As of March 31, 2026												As of March 31, 2025
								Change
		Non PerformingLoans based onthe BA and theFRA			CoverageRatio			Non PerformingLoans based onthe BA and theFRA			CoverageRatio			Non PerformingLoans based onthe BA and theFRA		CoverageRatio
Domestic Total (excluding Loans Booked Offshore)		****	685.4	****	****	65.1	****		(252.7	)		(8.7	)		938.2		73.8
Manufacturing		****	341.7	****	****	60.3	****		(268.5	)		(15.8	)		610.3		76.2
Agriculture & Forestry		****	3.2	****	****	65.4	****		(0.0	)		(10.9	)		3.2		76.3
Fishery		****	0.8	****	****	70.5	****		0.8			—			—		—
Mining, Quarrying Industry & Gravel Extraction Industry		****	—	****	****	—	****		—			—			—		—
Construction		****	5.8	****	****	80.4	****		2.7			(1.6	)		3.0		82.1
Utilities		****	3.7	****	****	63.8	****		2.7			(4.9	)		1.0		68.7
Communication		****	13.5	****	****	57.2	****		1.7			(2.0	)		11.7		59.3
Transportation & Postal Industry		****	7.1	****	****	77.3	****		(4.6	)		(0.0	)		11.8		77.4
Wholesale & Retail		****	150.9	****	****	63.1	****		39.6			7.1			111.2		55.9
Finance & Insurance		****	9.9	****	****	55.2	****		(3.9	)		0.4			13.9		54.8
Real Estate		****	26.6	****	****	91.3	****		0.2			4.4			26.3		86.8
Commodity Lease		****	0.3	****	****	65.0	****		0.0			(6.4	)		0.2		71.5
Service Industries		****	74.7	****	****	62.3	****		(20.5	)		(4.9	)		95.2		67.2
Local Governments		****	—	****	****	—	****		—			—			—		—
Other		****	46.7	****	****	96.3	****		(3.0	)		(0.7	)		49.8		97.1
Overseas Total (including Loans Booked Offshore)		****	206.6	****	****	86.2	****		126.2			5.3			80.3		80.8
Governments		****	—	****	****	—	****		—			—			—		—
Financial Institutions		****	—	****	****	—	****		—			—			—		—
Other		****	206.6	****	****	86.2	****		126.2			5.3			80.3		80.8

Total		****	892.1	****	****	70.0	****		(126.4	)		(4.3	)		1,018.5		74.3

*	Trust account represents trust accounts with contracts indemnifying the principal amounts.<br>
---	---

2-30

Mizuho Financial Group, Inc.

8. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises (“SMEs”) and Individual Customers

(1) Balance of Housing and ConsumerLoans

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

		(Billions of yen)
		As of<br>March 31,2026						As ofMarch 31,2025
					Change
Housing and Consumer Loans		****	7,126.6	****		(212.8	)		7,339.5
Housing Loans for owner’s residential housing		****	6,692.3	****		(198.3	)		6,890.7
Mizuho Bank
Housing and Consumer Loans		****	7,099.3	****		(207.8	)		7,307.1
Housing Loans		****	6,730.0	****		(205.4	)		6,935.5
for owner’s residential housing		****	6,666.2	****		(193.6	)		6,859.8
Consumer loans		****	369.2	****		(2.3	)		371.5
Mizuho Trust & Banking (Banking Account + Trust Account)
Housing and Consumer Loans		****	27.3	****		(5.0	)		32.4
Housing Loans for owner’s residential housing		****	26.1	****		(4.7	)		30.9
* Above figures are aggregate banking and trust account amounts.
(2) Loans to SMEs and Individual Customers										****
Non-Consolidated										****
Aggregate Figures for the 2 Banks (Banking Account + Trust Account)										****
		(%, Billions of yen)
		As of<br>March 31,2026						As ofMarch 31,2025
					Change
Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans		****	58.4	****		1.6			56.7
Loans to SMEs and Individual Customers		****	38,637.2	****		2,132.3			36,504.9
Mizuho Bank
Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans		****	59.3	****		2.3			57.0
Loans to SMEs and Individual Customers		****	37,268.7	****		2,309.6			34,959.1
Mizuho Trust & Banking (Banking Account + Trust Account)
Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans		****	40.2	****		(10.2	)		50.5
Loans to SMEs and Individual Customers		****	1,368.5	****		(177.3	)		1,545.8
*	Above figures are aggregate banking and trust account amounts.
---	---
*	Above figures do not include loans booked at overseas offices and offshore loans.
---	---
*	The definition of “Small and Medium-sized Enterprises” is<br>as follows:
---	---
Enterprises of which the capital is ¥300 million or below (¥100 million or below for the<br>wholesale industry, and ¥50 million or below for the retail, restaurant and commodity lease industries, etc.), or enterprises with full-time employees of 300 or below (100 or below for the wholesale and commodity lease industries etc., 50<br>or below for the retail and restaurant industries.)
---

2-31

Mizuho Financial Group, Inc.

9. Status of Loans by Region

(1) Outstanding Balances by Region

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

	(Billions of yen)
	As of March 31, 2026						As of March 31,2025
	Outstanding Balance			Change			Outstanding Balance
Asia	****	7,504.4	****		528.5			6,975.9
Hong Kong	****	902.6	****		5.2			897.3
Singapore	****	1,481.4	****		114.5			1,366.9
Thailand	****	1,116.5	****		87.5			1,029.0
Taiwan	****	763.3	****		57.0			706.3
India	****	983.2	****		56.0			927.1
South Korea	****	747.2	****		14.9			732.3
Indonesia	****	442.0	****		12.0			430.0
Philippines	****	365.8	****		99.0			266.8
China	****	159.8	****		18.4			141.4
Malaysia	****	112.2	****		23.4			88.8
Central and South America	****	4,823.1	****		381.0			4,442.1
Mexico	****	272.1	****		(81.8	)		353.9
Brazile	****	265.7	****		65.6			200.1
North America	****	16,313.5	****		2,564.5			13,748.9
United States	****	14,953.1	****		2,840.3			12,112.8
Eastern Europe	****	56.6	****		(65.1	)		121.7
Russia	****	20.6	****		(80.3	)		100.9
Western Europe	****	5,184.8	****		627.4			4,557.3
United Kingdom	****	1,620.5	****		240.2			1,380.2
Netherlands	****	1,014.4	****		(49.5	)		1,064.0
Germany	****	26.3	****		(54.1	)		80.4
Ireland	****	557.3	****		20.4			536.9
Switzerland	****	151.3	****		65.5			85.8
France	****	258.2	****		126.1			132.0
Turkey	****	138.8	****		40.1			98.7
Italy	****	11.6	****		(1.1	)		12.7
Other	****	5,378.3	****		1,006.2			4,372.1
Australia	****	2,805.1	****		645.2			2,159.9
Total	****	39,260.9	****		5,042.7			34,218.2

The above figures are based on obligor country of location.

The outstanding balance of loans in major banking subsidiaries outside Japan in the consolidated financial statement is as follows.

	As of March 31, 2026						As of March 31,2025
	Outstanding Balance			Change			Outstanding Balance
Mizuho Bank Europe N.V.	****	1,748.8	****		1,174.2			574.6
Mizuho Bank (China) ,Ltd	****	1,104.3	****		(59.1	)		1,163.4
PT. Bank Mizuho Indonesia	****	564.4	****		(45.5	)		610.0

2-32

Mizuho Financial Group, Inc.

(2) Non Performing Loans based on the BA and the FRA by Region

Non-Consolidated

Aggregate Figures for the 2 Banks (Banking Account + Trust Account)

	(Billions of yen)
	As of March 31, 2026						As of March 31, 2025
	Non PerformingLoans based on theBA and the FRA			Change			Non PerformingLoans based on theBA and the FRA
Asia	****	58.1	****		(0.0	)		1
Hong Kong	****	27.5	****		26.5			1.0
Singapore	****	2.6	****		(11.1	)		13.7
Thailand	****	0.3	****		(0.6	)		1.0
Taiwan	****	12.4	****		(11.8	)		24.2
India	****	0.6	****		0.6		****	—	****
South Korea	****	—	****		(0.0	)		0.0
Indonesia	****	—	****		—			—
Philippines	****	0.0	****		(0.0	)		0.0
China	****	0.2	****		0.0			0.1
Malaysia	****	—	****		—			—
Central and South America	****	17.9	****		3.9			13.9
Mexico	****	8.2	****		8.2		****	—	****
Brazile	****	0.0	****		0.0		****	—	****
North America	****	89.8	****		81.5			8.2
United States	****	89.8	****		81.5			8.2
Eastern Europe	****	8.5	****		0.0			8.5
Russia	****	8.5	****		0.0			8.5
Western Europe	****	63.1	****		33.4			29.7
United Kingdom	****	25.9	****		12.8			13.0
Netherlands	****	7.6	****		6.7			0.9
Germany	****	13.8	****		10.5			3.2
Ireland	****	—	****		—			—
Switzerland	****	1.1	****		0.1			1.0
France	****	2.2	****		2.2		****	—	****
Turkey	****	—	****		—			—
Italy	****	11.0	****		1.2			9.7
Other	****	0.0	****		(1.6	)		1.7
Australia	****	—	****		(1.6	)		1.6
Total	****	237.7	****		117.2			120.5

The above figures are based on obligor country of location.

The outstanding balance of Non Performing Loans based on the BA and the FRA in major banking subsidiaries outside Japan in the consolidated financial statement is as follows.

	As of March 31, 2026						As of March 31,2025
	Non PerformingLoans based onthe BA and theFRA			Change			Non PerformingLoans based onthe BA and theFRA
Mizuho Bank Europe N.V.	****	39.0	****		18.1			20.9
Mizuho Bank (China) ,Ltd	****	—	****		(0.1	)		0.1
PT. Bank Mizuho Indonesia	****	—	****		(6.9	)		6.9

2-33

Mizuho Financial Group, Inc.

III. OTHERS

1. Estimation for Calculating Deferred Tax Assets

Non-Consolidated

Mizuho Bank

1. Estimate of future taxable income

				(Billions of yen)
				Total amount<br>for five years<br>(from April 1,2026<br>to<br>March 31,2031)
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan<br>Losses)		1			6,299.7
Profit before Income Taxes		2			6,970.2
Tax Adjustments *1		3			(121.1	)
Taxable Income before Current Deductible Temporary Differences *2		4			6,849.0
Effective Statutory Tax Rate		5			31.52%
Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary<br>Differences [ 4 x 5 ]		6			21,588
*1.	Tax Adjustments are estimated future book-tax differences under the<br>provisions of the corporation tax law and others.
---	---
*2.	Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before<br>adjusting deductible temporary differences as of March 31, 2026.
---	---
(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
Fiscal 2025(estimate)			1,148.9
*1.	Figures are taxable income (tax loss) amounts per the final corporation tax returns before deducting tax losses<br>carried forward from prior years. Subsequent amendments have not been reflected.
---	---
*2.	Figure for fiscal 2025 is an estimate of taxable income.
---	---

2. Breakdown of Deferred Tax Assets

			(Billions of yen)
			As of<br>March 31,2026			Change			As of<br>March 31,2025
Allowance for Loan Losses		7	****	275.8	****		49.3			226.4
Impairment of Securities		8	****	91.8	****		(14.7	)		106.6
Securities Contributed to Employee Retirement Benefit Trust		9	****	83.9	****		(7.5	)		91.5
Net Unrealized Losses on Other Securities		10	****	—	****		(50.2	)		50.2
Depreciation and Impairment		11	****	55.6	****		(7.2	)		62.9
Net Deferred Hedge Losses		12	****	398.2	****		177.2			220.9
Tax Losses Carried Forward		13	****	2.9	****		(9.5	)		12.4
Other		14	****	193.0	****		(15.3	)		208.3

Total Deferred Tax Assets		15	****	1,101.5	****		121.9			979.5

Valuation Allowance		16	****	(143.3	)		38.9			(182.3	)

Sub-Total [ 15 + 16 ]		17	****	958.1	****		160.9			797.2

Amount related to Retirement Benefits Accounting		18	****	(79.6	)		38.7			(118.4	)
Net Unrealized Gains on Other Securities		19	****	(477.6	)		(147.1	)		(330.5	)
Net Deferred Hedge Gains		20	****	—	****		—			—
Other		21	****	(93.8	)		(22.2	)		(71.6	)

Total Deferred Tax Liabilities		22	****	(651.2	)		(130.6	)		(520.5	)

Net Deferred Tax Assets (Liabilities) [17 + 22]		23	****	306.9	****		30.2			276.6
Tax effects related to Net Unrealized Losses (Gains) on Other Securities *		24	****	(477.6	)		(179.6	)		(298.0	)
Tax effects related to Net Deferred Hedge Losses (Gains)		25	****	398.2	****		177.2			220.9
Tax effects related to others		26	****	386.3	****		32.6			353.7
*	Tax effects related to Net Unrealized Losses (Gains) on Other Securities is the amount after deducting<br>Valuation Allowance.
---	---
Assessment of Recoverability of Deferred Tax Assets is based on 19.<br>Company Classification (Category 2) of “Revised Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26).<br> <br><br><br><br>Future taxable income was estimated using assumptions used in the Business Plan, etc.
---

The above includes forward-looking information. See thedisclaimer at the end of the table of contents located at the beginning of this document.

2-34

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

1. Estimate of future taxable income

				(Billions of yen)
				Total amount forfive years<br>(from April 1, 2026<br>to<br>March 31, 2031)
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan<br>Losses)		1			265.8
Profit before Income Taxes		2			339.2
Tax Adjustments *1		3			1.9
Taxable Income before Current Deductible Temporary Differences *2		4			341.1
Effective Statutory Tax Rate		5			31.52%
Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary<br>Differences [ 4 x 5 ]		6			107.5
*1.	Tax Adjustments are estimated future book-tax differences under the<br>provisions of the corporation tax law and others.
---	---
*2.	Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before<br>adjusting deductible temporary differences as of March 31, 2026.
---	---
(Reference) Past results of taxable income (tax loss)
---	---	---	---
		(Billions of yen)
Fiscal 2021			33.2
Fiscal 2022			30.0
Fiscal 2023			29.4
Fiscal 2024			71.6
Fiscal 2025(estimate)			131.4
*1.	Figures are taxable income (tax loss) amounts per the final corporation tax returns before deducting tax losses<br>carried forward from prior years. Subsequent amendments have not been reflected.
---	---
*2.	Figure for fiscal 2025 is an estimate of taxable income.
---	---

2. Breakdown of Deferred Tax Assets

			(Billions of yen)
			As of<br>March 31,2026			Change			As of<br>March 31,2025
Allowance for Loan Losses		7	****	1.9	****		(0.2	)		2.1
Impairment of Securities		8	****	1.8	****		(1.7	)		3.6
Securities Contributed to Employee Retirement Benefit Trust		9	****	114	****		(1.3	)		12.7
Net Unrealized Losses on Other Securities		10	****	—	****		(0	)		0
Depreciation and Impairment		11	****	3.3	****		(2.2	)		5.5
Net Deferred Hedge Losses		12	****	—	****		—			—
Tax Losses Carried Forward		13	****	—	****		—			—
Other		14	****	6.6	****		1.0			5.6

Total Deferred Tax Assets		15	****	25.3	****		(4.5	)		29.8

Valuation Allowance		16	****	(2.0	)		1.0			(3.1	)

Sub-Total [ 15 + 16 ]		17	****	23.2	****		(3.4	)		26.6

Amount related to Retirement Benefits Accounting		18	****	(17.4	)		5.6			(23.0	)
Net Unrealized Gains on Other Securities		19	****	(28.0	)		(5.1	)		(22.8	)
Net Deferred Hedge Gains		20	****	(1.0	)		1.8			(2.9	)
Other		21	****	(0.5	)		(0.0	)		(0.4	)

Total Deferred Tax Liabilities		22	****	(47.0	)		2.3			(49.3	)

Net Deferred Tax Assets (Liabilities) [17 + 22]		23	****	(23.8	)		(1.1	)		(22.7	)
Tax effects related to Net Unrealized Losses (Gains) on Other Securities *		24	****	(28.0	)		(5.1	)		(22.9	)
Tax effects related to Net Deferred Hedge Losses (Gains)		25	****	(1.0	)		1.8			(2.9	)
Tax effects related to others		26	****	5.3	****		2.1			3.1
*	Tax effects related to Net Unrealized Losses (Gains) on Other Securities is the amount after deducting<br>Valuation Allowance.
---	---

Assessment of Recoverability of Deferred Tax Assets is based on 19. Company Classification (Category 2) of “Revised Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26).

Future taxable income was estimated using assumptions used in the Business Plan, etc.

The above includes forward-looking information. See the disclaimer at the end ofthe table of contents located at the beginning of this document.

2-35

Mizuho Financial Group, Inc.

2. Breakdown of Deposits (Domestic Offices)

Non-Consolidated

		(Billions of yen)
Aggregate Figures for the 2 Banks		As of<br>March 31,2026			Change			As of<br>March 31,2025
Deposits		****	126,500.4	****		2,400.5			124,099.8
Individual Deposits		****	49,221.7	****		191.7			49,030.0
Corporate Deposits		****	68,300.0	****		3,491.8			64,808.2
Financial/Government Institutions		****	8,978.5	****		(1,283.0	)		10,261.5
Mizuho Bank
Deposits		****	125,136.8	****		2,919.7			122,217.0
Individual Deposits		****	48,570.9	****		236.8			48,334.1
Corporate Deposits		****	67,726.1	****		3,834.2			63,891.8
Financial/Government Institutions		****	8,839.7	****		(1,151.3	)		9,991.0
Mizuho Trust & Banking
Deposits		****	1,363.5	****		(519.1	)		1,882.7
Individual Deposits		****	650.7	****		(45.0	)		695.8
Corporate Deposits		****	573.9	****		(342.4	)		916.3
Financial/Government Institutions		****	138.8	****		(131.6	)		270.5
*	Above figures do not include deposits booked at overseas offices and offshore deposits.
---	---

2-36

Mizuho Financial Group, Inc.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

	(Millions of yen)
	As of<br>March 31, 2026 (A)			As of<br>March 31, 2025 (B)			Change<br>(A) - (B)
Assets
Cash and Due from Banks	¥	59,080,362	****	¥	69,747,184		¥	(10,666,822	)
Call Loans	****	678,825	****		249,360			429,464
Receivables under Resale Agreements	****	9,218,778	****		10,023,199			(804,420	)
Guarantee Deposits Paid under Securities Borrowing Transactions	****	137,402	****		127,638			9,763
Monetary Claims Bought	****	576,260	****		493,032			83,228
Trading Assets	****	9,766,056	****		7,782,207			1,983,848
Money Held in Trust	****	500	****		505			(5	)
Securities	****	42,655,427	****		34,405,103			8,250,324
Loans and Bills Discounted	****	97,625,798	****		91,615,228			6,010,569
Foreign Exchanges	****	2,610,072	****		2,042,083			567,988
Derivatives other than for Trading Assets	****	8,290,290	****		6,066,571			2,223,718
Other Assets	****	5,822,896	****		5,558,146			264,749
Tangible Fixed Assets	****	861,568	****		855,824			5,743
Intangible Fixed Assets	****	546,405	****		505,728			40,677
Prepaid Pension Cost	****	252,806	****		375,645			(122,838	)
Deferred Tax Assets	****	306,924	****		276,640			30,284
Customers’Liabilities for Acceptances and Guarantees	****	13,442,049	****		11,573,662			1,868,387
Allowance for Loan Losses	****	(609,891	)		(719,269	)		109,378
Allowance for Investment Losses	****	—	****		(2	)		2

Total Assets	¥	251,262,535	****	¥	240,978,492		¥	10,284,042

Liabilities
Deposits	¥	160,600,608	****	¥	153,047,861		¥	7,552,747
Negotiable Certificates of Deposit	****	12,064,547	****		14,052,123			(1,987,575	)
Call Money	****	2,568,699	****		2,169,376			399,323
Payables under Repurchase Agreements	****	14,165,093	****		19,411,662			(5,246,569	)
Guarantee Deposits Received under Securities Lending Transactions	****	292,689	****		356,931			(64,242	)
Commercial Paper	****	1,921,799	****		2,138,133			(216,333	)
Trading Liabilities	****	7,402,184	****		5,646,893			1,755,291
Borrowed Money	****	15,668,322	****		12,955,564			2,712,757
Foreign Exchanges	****	1,352,174	****		1,061,680			290,493
Bonds and Notes	****	801,202	****		407,973			393,228
Derivatives other than for Trading Liabilities	****	9,784,858	****		7,147,566			2,637,292
Other Liabilities	****	3,938,509	****		4,115,826			(177,316	)
Reserve for Bonus Payments	****	64,900	****		54,510			10,390
Reserve for Variable Compensation	****	883	****		587			295
Reserve for Possible Losses on Sales of Loans	****	6,707	****		1,266			5,440
Reserve for Contingencies	****	7,122	****		8,616			(1,494	)
Reserve for Reimbursement of Deposits	****	4,850	****		6,814			(1,963	)
Reserve for Reimbursement of Debentures	****	6,850	****		19,965			(13,115	)
Deferred Tax Liabilities for Revaluation Reserve for Land	****	45,074	****		47,059			(1,984	)
Acceptances and Guarantees	****	13,442,049	****		11,573,662			1,868,387

Total Liabilities	****	244,139,128	****		234,224,077			9,915,051

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	****	3,042,389	****		2,715,665			326,723
Appropriated Reserve	****	724,535	****		624,534			100,000
Other Retained Earnings	****	2,317,853	****		2,091,130			226,723
Retained Earnings Brought Forward	****	2,317,853	****		2,091,130			226,723

Total Shareholders’ Equity	****	6,705,847	****		6,379,123			326,723

Net Unrealized Gains (Losses) on Other Securities, net of Taxes	****	1,186,487	****		752,993			433,494
Net Deferred Hedge Gains (Losses), net of Taxes	****	(863,301	)		(476,383	)		(386,917	)
Revaluation Reserve for Land, net of Taxes	****	94,373	****		98,682			(4,309	)

Total Valuation and Translation Adjustments	****	417,559	****		375,291			42,267

Total Net Assets	****	7,123,406	****		6,754,415			368,991

Total Liabilities and Net Assets	¥	251,262,535	****	¥	240,978,492		¥	10,284,042

2-37

Mizuho Financial Group, Inc.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OFINCOME

(selected items) OF MIZUHO BANK

	(Millions of yen)
	For the fiscalyear ended<br>March 31,2026 (A)			For the fiscalyear ended<br>March 31,2025 (B)			Change<br>(A) - (B)
Ordinary Income	¥	6,379,476	****	¥	6,379,900		¥	(423	)
Interest Income	****	4,778,524	****		4,921,150			(142,625	)
Interest on Loans and Bills Discounted	****	2,585,754	****		2,553,036			32,717
Interest and Dividends on Securities	****	893,032	****		812,548			80,483
Fee and Commission Income	****	749,132	****		668,693			80,438
Trading Income	****	190,928	****		269,318			(78,390	)
Other Operating Income	****	248,108	****		191,649			56,458
Other Ordinary Income	****	412,782	****		329,088			83,694

Ordinary Expenses	****	5,380,349	****		5,643,813			(263,463	)
Interest Expenses	****	3,425,471	****		3,852,322			(426,850	)
Interest on Deposits	****	1,581,311	****		1,613,715			(32,403	)
Fee and Commission Expenses	****	306,094	****		261,098			44,995
Trading Expenses	****	3,947	****		—			3,947
Other Operating Expenses	****	347,787	****		375,729			(27,942	)
General and Administrative Expenses	****	998,123	****		882,552			115,571
Other Ordinary Expenses	****	298,924	****		272,110			26,813

Ordinary Profits	****	999,127	****		736,087			263,040

Extraordinary Gains	****	73,639	****		49,155			24,483

Extraordinary Losses	****	19,843	****		26,677			(6,834	)

Profit before Income Taxes	****	1,052,924	****		758,565			294,358
Income Taxes:
Current	****	299,525	****		218,741			80,783
Refund of Income Taxes	****	(20,355	)		(7,387	)		(12,968	)
Deferred	****	(48,663	)		(26,282	)		(22,381	)

Profit	¥	822,419	****	¥	573,494		¥	248,925

2-38