Equibles

6-K

MIZUHO FINANCIAL GROUP INC (MFG)

6-K 2023-07-31 For: 2023-07-31
View Original
Added on April 05, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2023

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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Date: July 31, 2023
Mizuho Financial Group, Inc.
By: /s/ Takefumi Yonezawa
Name: Takefumi Yonezawa
Title: Senior Executive Officer / Group CFO

For Immediate Release:

Consolidated Financial Statements for the First Quarter of Fiscal 2023<br><br><br>(Under Japanese GAAP)
Company Name: Mizuho Financial Group, Inc. (“MHFG”) July 31, 2023
--- --- ---
Stock Code Number (Japan): 8411
--- --- --- --- ---
Stock Exchange Listings: Tokyo Stock Exchange (Prime Market), New York Stock Exchange
URL: https://www.mizuhogroup.com
Representative: Masahiro Kihara President & Group CEO
For Inquiry: Yasutoshi Tanaka General Manager of Accounting Phone: +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled): August 14, 2023 Trading Accounts: Established
Commencement of Dividend Payment (scheduled): —
Supplementary Materials on Quarterly Results: Attached
IR Conference on Quarterly Results: Not Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2023 (for the three months ended June 30, 2023)

(1) Consolidated Results of Operations

(%: Changes from the corresponding period of the previous fiscal year)
Ordinary Income Ordinary Profits ProfitAttributable toOwners of Parent
million % million % million %
1Q F2023 50.5 44.0 53.9
1Q F2022 67.5 (6.6 ) (36.4 )

All values are in Japanese Yen.

Note: Comprehensive Income:<br><br><br>1Q F2023: ¥467,256 million, —%; 1Q F2022: ¥ (66,832) million, —%
Net Incomeper Share ofCommon Stock Diluted Net Incomeper Share ofCommon Stock
--- --- ---
1Q F2023
1Q F2022

All values are in Japanese Yen.

(2) Consolidated Financial Conditions

Total Assets Total Net Assets Own Capital Ratio
million million %
1Q F2023 3.5
Fiscal 2022 3.5

All values are in Japanese Yen.

Reference: Own Capital:<br> <br>As of June 30, 2023:<br>¥9,489,901 million; As of March 31, 2023: ¥9,133,294 million
Note: Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights -<br>Non-controlling Interests) / Total Assets × 100<br> <br>Own Capital Ratio stated above is not calculated based on the<br>public notice of Own Capital Ratio.
--- ---

2. Cash Dividends for Shareholders of Common Stock

Annual Cash Dividends per Share
Firstquarter-end Secondquarter-end Thirdquarter-end Fiscalyear-end Total
****
Fiscal 2022
Fiscal 2023
Fiscal 2023 (estimate)

All values are in Japanese Yen.

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

3. Consolidated Earnings Estimates for Fiscal 2023 (for the fiscal year ending March 31, 2024)

(%: Changes from the corresponding period of the previous fiscal year)
ProfitAttributable toOwners ofParent Net Incomeper Share ofCommon Stock
million %
Fiscal 2023 H1 —
Fiscal 2023 9.8

All values are in Japanese Yen.

Notes: 1. Revision of the latest announced earnings estimates for fiscal 2023: No
2. The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares (excluding treasury stock) during 1Q and the number of outstanding shares<br>(excluding treasury stock) as of June 30, 2023 (which is used as a proxy for the average number of outstanding shares during 2Q-4Q).

Notes

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

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

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

i Changes in accounting policies due to revisions of accounting standards: Yes
ii Changes in accounting policies other than i above: No
--- ---
iii Changes in accounting estimates: No
--- ---
iv Restatements: No
--- ---

Note: For more information, please refer to “1.(1) Changes in Accounting Policies and Accounting Estimates / Restatements” on page 1-2 of the attachment.

(4) Issued Shares of Common Stock

i   Period-end issued shares (including<br>treasury stock): As of June 30, 2023 2,539,249,894 shares As of March 31, 2023 2,539,249,894 shares
ii  Period-end treasury stock: As of June 30, 2023 4,457,406 shares As of March 31, 2023 5,027,306 shares
iii  Average outstanding shares<br>(first quarter): 1Q Fiscal 2023 2,534,288,787 shares 1Q Fiscal 2022 2,534,214,481 shares

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

This immediate release contains statements that constituteforward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management offuture performance.<br> <br>In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,”“endeavor,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “project,” “risk,” “seek,” “should,” “strive,”“target” and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect ourcurrent views with respect to future events and are subject to risks, uncertainties and assumptions.<br> <br>We may not be successful in implementing ourbusiness strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: impact of geopolitical disruptions and the corona virus pandemic; intensification of competition in the marketfor 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 assumptionsor other changes related to our pension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; theeffect of financial transactions 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 avoidreputational 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 ingeneral economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.<br> <br>Further information regarding factors that couldaffect 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 Form20-F filed with the U.S. Securities and Exchange Commission (“SEC”), which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web siteat www.sec.gov.<br> <br>We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update oralter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

Mizuho Financial Group, Inc.

m Contents of Attachment

1. Matters Related to Summary Information (Notes) p. 1-2
(1) Changes in Accounting Policies and Accounting Estimates / Restatements p. 1-2
2. Quarterly Consolidated Financial Statements and Others p. 1-3
(1) Consolidated Balance Sheets p. 1-3
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income p. 1-5
(3) Note for Assumption of Going Concern p. 1-7
(4) Note for Significant Changes in the Amount of Shareholders’ Equity p. 1-7
ø SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 2023

Note to XBRL

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

1-1

Mizuho Financial Group, Inc.

1. Matters Related to Summary Information (Notes)

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

(Implementation of ASU2016-13, “Measurement of Credit Losses on Financial Instruments”)

Some overseas subsidiaries which apply U.S. GAAP and are considered non-public business entities have adopted ASU2016-13, “Measurement of Credit Losses on Financial Instruments” from the beginning of the first quarter ended June 30, 2023. This update has replaced the incurred loss impairment methodology in previous U.S. GAAP with a methodology that reflects expected credit losses with respect to financial instruments in the amortized cost category, and full lifetime expected credit losses have been estimated upon initial recognition and reserve has been recognized. In adopting the accounting standard, Retained Earnings were adjusted for the cumulative effect at the beginning of the first quarter ended June 30, 2023 in accordance with transitional treatment set out in the accounting standard.

As a result, at the beginning of the first quarter ended June 30, 2023, Reserves for Possible Losses on Loans increased by ¥1,188 million, Reserves for Contingencies increased by ¥1,485 million and Retained Earnings decreased by ¥1,883 million.

1-2

Mizuho Financial Group, Inc.

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

Millions of yen
As of<br>March 31,<br>2023 As of<br>June 30,<br>2023
Assets
Cash and Due from Banks ¥ 67,152,100 ¥ 61,332,175
Call Loans and Bills Purchased 1,386,895 1,086,934
Receivables under Resale Agreements 11,693,419 14,195,893
Guarantee Deposits Paid under Securities Borrowing Transactions 1,897,429 1,714,426
Other Debt Purchased 3,836,735 3,904,318
Trading Assets 17,404,494 21,268,265
Money Held in Trust 514,607 568,865
Securities 37,363,140 44,086,569
Loans and Bills Discounted 88,687,155 91,463,813
Foreign Exchange Assets 2,408,587 2,417,603
Derivatives other than for Trading Assets 2,184,875 3,368,259
Other Assets 8,689,547 9,288,004
Tangible Fixed Assets 1,105,851 1,099,825
Intangible Fixed Assets 572,719 584,742
Net Defined Benefit Asset 859,271 820,729
Deferred Tax Assets 316,168 294,050
Customers’ Liabilities for Acceptances and Guarantees 8,905,643 9,312,235
Reserves for Possible Losses on Loans (720,437 ) (669,098 )
Reserve for Possible Losses on Investments (1 ) (1 )
Total Assets ¥ 254,258,203 ¥ 266,137,612

1-3

Mizuho Financial Group, Inc.

Millions of yen
As of<br>March 31,<br>2023 As of<br>June 30,<br>2023
Liabilities
Deposits ¥ 150,498,976 ¥ 146,526,777
Negotiable Certificates of Deposit 13,788,347 19,798,922
Call Money and Bills Sold 1,814,873 1,808,786
Payables under Repurchase Agreements 25,735,560 28,072,362
Guarantee Deposits Received under Securities Lending Transactions 757,842 859,552
Commercial Paper 1,782,111 1,636,507
Trading Liabilities 12,698,007 14,457,288
Borrowed Money 4,155,480 4,229,734
Foreign Exchange Liabilities 671,552 861,542
Short-term Bonds 477,141 458,646
Bonds and Notes 11,371,189 11,681,133
Due to Trust Accounts 1,534,097 1,114,199
Derivatives other than for Trading Liabilities 2,749,138 4,415,328
Other Liabilities 7,777,025 11,093,461
Reserve for Bonus Payments 126,694 38,887
Reserve for Variable Compensation 2,381 2,654
Net Defined Benefit Liability 68,429 67,965
Reserve for Director and Corporate Auditor Retirement Benefits 539 481
Reserve for Possible Losses on Sales of Loans 15,049 9,530
Reserve for Contingencies 13,706 22,997
Reserve for Reimbursement of Deposits 13,695 12,787
Reserve for Reimbursement of Debentures 7,798 6,973
Reserves under Special Laws 3,352 3,352
Deferred Tax Liabilities 22,391 24,086
Deferred Tax Liabilities for Revaluation Reserve for Land 58,711 58,061
Acceptances and Guarantees 8,905,643 9,312,235
Total Liabilities ¥ 245,049,740 ¥ 256,574,260
Net Assets
Common Stock ¥ 2,256,767 ¥ 2,256,767
Capital Surplus 1,129,267 1,129,267
Retained Earnings 5,093,911 5,230,926
Treasury Stock (8,786 ) (8,110 )
Total Shareholders’ Equity 8,471,160 8,608,851
Net Unrealized Gains (Losses) on Other Securities 564,495 706,435
Deferred Gains or Losses on Hedges (358,102 ) (376,699 )
Revaluation Reserve for Land 129,321 127,963
Foreign Currency Translation Adjustments 144,093 257,824
Remeasurements of Defined Benefit Plans 182,306 165,666
Own Credit Risk Adjustments, Net of Tax 19 (138 )
Total Accumulated Other Comprehensive Income 662,133 881,050
Stock Acquisition Rights 5 5
Non-controlling Interests 75,163 73,444
Total Net Assets 9,208,463 9,563,352
Total Liabilities and Net Assets ¥ 254,258,203 ¥ 266,137,612

1-4

Mizuho Financial Group, Inc.

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

Consolidated Statements of Income

Millions of yen
For the three<br>months ended<br>June 30, 2022 For the three<br>months ended<br>June 30, 2023
Ordinary Income ¥ 1,235,090 ¥ 1,858,873
Interest Income 444,862 1,293,614
Interest on Loans and Bills Discounted 275,979 664,178
Interest and Dividends on Securities 80,623 117,802
Fiduciary Income 14,299 14,728
Fee and Commission Income 200,034 221,014
Trading Income 355,522 118,292
Other Operating Income 180,144 111,762
Other Ordinary Income 40,227 99,461
Ordinary Expenses 1,030,852 1,564,676
Interest Expenses 191,616 1,075,918
Interest on Deposits 56,662 388,963
Fee and Commission Expenses 40,854 49,824
Trading Expenses 348,543 714
Other Operating Expenses 21,909 18,675
General and Administrative Expenses 350,591 384,670
Other Ordinary Expenses 77,337 34,871
Ordinary Profits 204,237 294,197
Extraordinary Gains 3,580 20,018
Extraordinary Losses 463 641
Income before Income Taxes 207,355 313,574
Income Taxes:
Current 64,411 68,068
Deferred (18,875 ) (838 )
Total Income Taxes 45,535 67,230
Profit 161,819 246,344
Profit Attributable to Non-controllingInterests 2,525 1,151
Profit Attributable to Owners of Parent ¥ 159,294 ¥ 245,192

1-5

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income

Millions of yen
For the threemonths endedJune 30, 2022 For the threemonths endedJune 30, 2023
Profit ¥ 161,819 ¥ 246,344
Other Comprehensive Income (228,652 ) 220,912
Net Unrealized Gains (Losses) on Other Securities (317,031 ) 141,921
Deferred Gains or Losses on Hedges (27,323 ) (18,111 )
Foreign Currency Translation Adjustments 115,854 110,977
Remeasurements of Defined Benefit Plans (10,934 ) (16,483 )
Own Credit Risk Adjustments, Net of Tax (16 ) (158 )
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method 10,800 2,767
Comprehensive Income (66,832 ) 467,256
(Breakdown)
Comprehensive Income Attributable to Owners of Parent (70,274 ) 465,468
Comprehensive Income Attributable to Non-controlling<br>Interests 3,442 1,788

1-6

Mizuho Financial Group, Inc.

(3) Note for Assumption of Going Concern

There is no applicable information.

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

There is no applicable information.

1-7

SELECTED FINANCIAL INFORMATION

For the First Quarter of Fiscal 2023

(Under Japanese GAAP)

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

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

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

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2023 See above Notes Page
1. Income Analysis CON NON 2- 1
2. Net Gains/Losses on Stocks CON NON 2- 3
3. Unrealized Gains/Losses on Securities CON NON 2- 4
4. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial<br>Reconstruction Act (“FRA”) CON NON 2- 7
5. Status of Deposits and Loans NON 2- 11
Attachments Page
--- --- ---
Mizuho Bank, Ltd.
Comparison of Non-Consolidated Balance Sheets (selected<br>items) 2- 13
Comparison of Non-Consolidated Statements of Income<br>(selected items) 2- 14

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

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

We may not be successful in implementing our business strategies, and management may fail toachieve its targets, for a wide range of possible reasons, including, without limitation: impact of geopolitical disruptions and the corona virus pandemic; intensification of competition in the market for financial services; incurrence ofsignificant 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 related to ourpension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactionsentered 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 abilityto 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 economic conditions inJapan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financialcondition 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 filedwith the U.S. Securities and Exchange Commission (“SEC”), which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.

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

Mizuho Financial Group, Inc.

FINANCIAL INFORMATION FOR THE FIRST QUARTER OF FISCAL 2023

1. Income Analysis

Consolidated

(Billions of yen)
First Quarter of<br>Fiscal 2023 First Quarter of<br>Fiscal 2022
**** Change
Consolidated Gross Profits 1 **** 614.2 **** 22.3 591.9
Net Interest Income 2 **** 217.6 **** (35.5 ) 253.2
Fiduciary Income 3 **** 14.7 **** 0.4 14.2
Credit Costs for Trust Accounts 4 **** — **** — —
Net Fee and Commission Income 5 **** 171.1 **** 12.0 159.1
Net Trading Income 6 **** 117.5 **** 110.5 6.9
Net Other Operating Income 7 **** 93.0 **** (65.1 ) 158.2
General and Administrative Expenses 8 **** (384.6 ) (34.0 ) (350.5 )
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for<br>Losses on Loans) 9 **** (4.6 ) 62.4 (67.0 )
Gains on Reversal of Reserves for Possible Losses on Loans, and others 10 **** 31.9 **** 29.7 2.2
Net Gains (Losses) related to Stocks 11 **** 23.0 **** 2.5 20.4
Equity in Income from Investments in Affiliates 12 **** 10.4 **** 4.8 5.5
Other 13 **** 3.7 **** 2.0 1.7
Ordinary Profits 14 **** 294.1 **** 89.9 204.2
Net Extraordinary Gains (Losses) 15 **** 19.3 **** 16.2 3.1
Income before Income Taxes 16 **** 313.5 **** 106.2 207.3
Income Taxes 17 **** (67.2 ) (21.6 ) (45.5 )
Profit 18 **** 246.3 **** 84.5 161.8
Profit Attributable to Non-controlling Interests 19 **** (1.1 ) 1.3 (2.5 )
Profit Attributable to Owners of Parent 20 **** 245.1 **** 85.8 159.2
Credit-related Costs (including Credit Costs for Trust Accounts) 21 **** 27.3 **** 92.2 (64.8 )
Credit-related Costs [21]  =     Expenses related to Portfolio Problems<br>(including Reversal of (Provision for) General Reserve for Losses on Loans) [9] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [10] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits 22 **** 231.0 **** (5.1 ) 236.1
Consolidated Net Business Profits [22] =     Consolidated Gross<br>Profits [1] – General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments
Number of consolidated subsidiaries 23 **** 189 **** 24 165
Number of affiliates under the equity method 24 **** 24 **** — 24

2-1

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Billions of yen)
First Quarter of Fiscal 2023 First Quarter of<br>Fiscal 2022
MHBK MHTB Aggregate<br>Figures Change
Gross Profits 1 **** 339.0 **** **** 24.1 **** **** 363.1 **** (37.2 ) 400.4
Net Interest Income 2 **** 210.2 **** **** 4.7 **** **** 215.0 **** (22.4 ) 237.4
Fiduciary Income 3 **** 14.8 **** **** 14.8 **** 0.4 14.4
Trust Fees for Jointly Operated Designated Money Trust 4 **** 0.9 **** **** 0.9 **** (0.0 ) 0.9
Credit Costs for Trust Accounts 5 **** — **** **** — **** — —
Net Fee and Commission Income 6 **** 82.4 **** **** 4.5 **** **** 86.9 **** (1.7 ) 88.7
Net Trading Income 7 **** (4.5 ) **** — **** **** (4.5 ) 53.7 (58.3 )
Net Other Operating Income 8 **** 50.9 **** **** (0.0 ) **** 50.9 **** (67.2 ) 118.2
General and Administrative Expenses<br>(excluding<br>Non-Recurring Losses) 9 **** (199.6 ) **** (20.7 ) **** (220.3 ) (5.7 ) (214.6 )
Net Business Profits (before Reversal of (Provision for)<br>General Reserve for Losses on Loans)^(1)^ 10 **** 139.4 **** **** 3.3 **** **** 142.8 **** (43.0 ) 185.8
Net Business Profits (before Reversal of (Provision for) General<br>Reserve for Losses on Loans)<br>from core business areas^(2)^ 11 **** 140.8 **** **** 3.3 **** **** 144.2 **** (24.9 ) 169.2
Excluding Net Gains (Losses) from redemption of Investment Trusts 12 **** 135.8 **** **** 3.3 **** **** 139.2 **** (12.4 ) 151.6
Reversal of (Provision for) General Reserve for Losses on Loans 13 **** — **** **** — **** **** — **** 12.2 (12.2 )
Net Business Profits 14 **** 139.4 **** **** 3.3 **** **** 142.8 **** (30.7 ) 173.5
Net Gains (Losses) related to Bonds 15 **** (1.4 ) **** — **** **** (1.4 ) (18.0 ) 16.5
Net Non-Recurring Gains (Losses) 16 **** 63.5 **** **** 3.2 **** **** 66.7 **** 99.9 (33.1 )
Net Gains (Losses) related to Stocks 17 **** 19.3 **** **** 0.7 **** **** 20.0 **** 1.1 18.8
Expenses related to Portfolio Problems 18 **** (4.2 ) **** — **** **** (4.2 ) 60.5 (64.8 )
Gains on Reversal of Reserves for Possible Losses on Loans, and others 19 **** 34.6 **** **** 0.5 **** **** 35.1 **** 32.9 2.2
Other 20 **** 13.7 **** **** 2.0 **** **** 15.7 **** 5.1 10.5
Ordinary Profits 21 **** 202.9 **** **** 6.6 **** **** 209.5 **** 69.2 140.3
Net Extraordinary Gains (Losses) 22 **** 19.7 **** **** (0.1 ) **** 19.5 **** 13.1 6.4
Income before Income Taxes 23 **** 222.6 **** **** 6.5 **** **** 229.1 **** 82.3 146.8
Income Taxes 24 **** (61.5 ) **** (1.4 ) **** (62.9 ) (23.1 ) (39.7 )
Net Income 25 **** 161.1 **** **** 5.0 **** **** 166.2 **** 59.1 107.0
(1)  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB<br>excludes the amounts of “Credit Costs for Trust Accounts” [5].<br> <br>(2)  Net Business Profits<br>(before Reversal of (Provision for) General Reserve for Losses on Loans) from core business areas[11] =Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)[10]-Net<br>Gains (Losses) related to Bonds[15]
Credit-related Costs 26 **** 30.4 **** **** 0.5 **** **** 30.9 **** 105.8 (74.8 )
Credit-related Costs [26] =    Expenses related to Portfolio Problems [18] +<br>Reversal of (Provision for) General Reserve for Losses on Loans [13] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [19] + Credit Costs for Trust Accounts [5]
Reference: Breakdown of Credit-related Costs
Credit Costs for Trust Accounts 27 **** — **** **** — **** — —
Reversal of (Provision for) General Reserve for Losses on Loans 28 **** 8.7 **** **** 0.5 **** **** 9.2 **** 21.4 (12.1 )
Losses on Write-offs of Loans 29 **** (3.5 ) **** 0.0 **** **** (3.5 ) 45.1 (48.6 )
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans 30 **** 20.2 **** **** 0.0 **** **** 20.2 **** 35.7 (15.5 )
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring<br>Countries 31 **** 4.3 **** **** — **** **** 4.3 **** 2.8 1.4
Reversal of (Provision for) Reserve for Contingencies 32 **** 0.6 **** **** — **** **** 0.6 **** 0.4 0.2
Other (including Losses on Sales of Loans) 33 **** (0.1 ) **** — **** **** (0.1 ) 0.0 (0.2 )
Total 34 **** 30.4 **** **** 0.5 **** **** 30.9 **** 105.8 (74.8 )

2-2

Mizuho Financial Group, Inc.

2. Net Gains/Losses on Stocks

Consolidated

(Billions of yen)
First Quarter of<br>Fiscal 2023 Change First Quarter of<br>Fiscal 2022
Net Gains (Losses) related to Stocks **** 23.0 **** 2.5 20.4
Gains on Sales **** 43.8 **** 19.1 24.6
Losses on Sales **** (8.8 ) (3.7 ) (5.1 )
Impairment (Devaluation) **** (1.8 ) (1.4 ) (0.4 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** (10.0 ) (11.4 ) 1.3
Non-Consolidated
Aggregate Figures for the 2 Banks
First Quarter of<br>Fiscal 2023 Change First Quarter of<br>Fiscal 2022
Net Gains (Losses) related to Stocks **** 20.0 **** 1.1 18.8
Gains on Sales **** 38.5 **** 16.2 22.3
Losses on Sales **** (8.2 ) (3.6 ) (4.6 )
Impairment (Devaluation) **** (0.2 ) 0.0 (0.2 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** (10.0 ) (11.4 ) 1.3
Mizuho Bank ****
First Quarter of<br>Fiscal 2023 Change First Quarter of<br>Fiscal 2022
Net Gains (Losses) related to Stocks **** 19.3 **** 0.6 18.6
Gains on Sales **** 37.8 **** 15.6 22.1
Losses on Sales **** (8.2 ) (3.6 ) (4.6 )
Impairment (Devaluation) **** (0.2 ) (0.0 ) (0.2 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** (10.0 ) (11.4 ) 1.3
Mizuho Trust & Banking ****
First Quarter of<br>Fiscal 2023 Change First Quarter of<br>Fiscal 2022
Net Gains (Losses) related to Stocks **** 0.7 **** 0.5 0.1
Gains on Sales **** 0.7 **** 0.5 0.1
Losses on Sales **** (0.0 ) (0.0 ) (0.0 )
Impairment (Devaluation) **** — **** 0.0 (0.0 )
Reversal of (Provision for) Reserve for Possible Losses on Investments **** — **** — —
Gains (Losses) on Derivatives other than for Trading **** — **** — —

2-3

Mizuho Financial Group, Inc.

3. Unrealized Gains/Losses on Securities

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

Consolidated

(1) OtherSecurities

(Billions of yen)
As of June 30, 2023 As of March 31, 2023
Book Value<br>(=Fair Value) Unrealized Gains/Losses Book Value<br>(=Fair Value) Unrealized Gains/Losses
Gains Losses Gains Losses
MHFG (Consolidated)
Other Securities **** 40,338.0 **** 979.0 **** 1,980.1 1,001.0 34,403.4 789.8 1,596.3 806.4
Japanese Stocks **** 2,849.9 **** 1,862.2 **** 1,872.6 10.3 2,515.7 1,518.3 1,548.4 30.0
Japanese Bonds **** 24,442.1 **** (31.2 ) 29.2 60.5 20,239.2 (61.4 ) 14.4 75.9
Japanese Government Bonds **** 20,676.5 **** (7.2 ) 18.0 25.2 16,449.2 (31.9 ) 3.8 35.8
Other **** 13,046.0 **** (851.9 ) 78.2 930.1 11,648.4 (667.0 ) 33.3 700.4
Foreign Bonds **** 10,700.2 **** (764.6 ) 4.4 769.0 9,554.5 (580.6 ) 14.7 595.4
* In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from<br>Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included.
--- ---
* Unrealized Gains/Losses include ¥44.3 billion and ¥36.5 billion as of June 30, 2023 and<br>March 31, 2023, respectively, which were recognized in the statement of income by applying the fair-value hedge accounting and others.
--- ---
* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the<br>deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment as of June 30, 2023 and March 31, 2023 are ¥116.0 billion (Foreign Bonds ¥246.1 billion and Japanese Government Bonds ¥(16.7)<br>billion) and ¥59.0 billion (Foreign Bonds ¥125.9 billion and Japanese Government Bonds ¥(14.5) billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of June 30,<br>2023 and March 31, 2023 are ¥1,095.1 billion (Foreign Bonds ¥(518.4) billion and Japanese Government Bonds ¥(23.9) billion) and ¥848.9 billion (Foreign Bonds ¥(454.7) billion and Japanese Government Bonds<br>¥(46.4) billion), respectively.
--- ---

(2) Bonds Held to Maturity

(Billions of yen)
As of June 30, 2023 As of March 31, 2023
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses **** Gains Losses
MHFG (Consolidated) **** 2,570.0 **** (172.7 ) 1.5 174.2 2,048.1 (133.0 ) 2.5 135.6

2-4

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) OtherSecurities

(Billions of yen)
As of June 30, 2023 As of March 31, 2023
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
(=Fair Value) Gains Losses (=Fair Value) Gains Losses
MHBK
Other Securities **** 39,390.3 **** 815.3 **** **** 1,814.3 **** 998.9 33,455.8 651.4 1,456.7 805.3
Japanese Stocks **** 2,618.0 **** 1,700.1 **** **** 1,709.0 **** 8.9 2,306.6 1,380.9 1,411.1 30.1
Japanese Bonds **** 24,355.2 **** (31.7 ) **** 28.7 **** 60.4 20,155.1 (61.8 ) 14.0 75.9
Japanese Government Bonds **** 20,665.5 **** (7.2 ) **** 18.0 **** 25.2 16,438.0 (31.9 ) 3.8 35.8
Other **** 12,417.0 **** (853.0 ) **** 76.4 **** 929.5 10,994.0 (667.6 ) 31.5 699.2
Foreign Bonds **** 10,126.1 **** (764.5 ) **** 3.8 **** 768.4 8,953.1 (580.7 ) 14.0 594.7
MHTB
Other Securities **** 226.5 **** 94.7 **** **** 96.2 **** 1.4 209.8 79.0 81.2 2.2
Japanese Stocks **** 153.4 **** 93.6 **** **** 95.0 **** 1.4 138.2 78.0 80.2 2.1
Japanese Bonds **** 67.4 **** 0.4 **** **** 0.4 **** 0.0 65.6 0.3 0.3 0.0
Japanese Government Bonds **** — **** — **** **** — **** — — — — —
Other **** 5.6 **** 0.7 **** **** 0.7 **** 0.0 5.8 0.6 0.6 0.0
Foreign Bonds **** — **** — **** **** — **** — **** — **** — **** **** — **** —
Total
Other Securities **** 39,616.8 **** 910.1 **** **** 1,910.5 **** 1,000.4 33,665.6 730.4 1,537.9 807.5
Japanese Stocks **** 2,771.4 **** 1,793.7 **** **** 1,804.1 **** 10.3 2,444.9 1,458.9 1,491.3 32.3
Japanese Bonds **** 24,422.6 **** (31.2 ) **** 29.2 **** 60.5 20,220.8 (61.4 ) 14.4 75.9
Japanese Government Bonds **** 20,665.5 **** (7.2 ) **** 18.0 **** 25.2 16,438.0 (31.9 ) 3.8 35.8
Other **** 12,422.7 **** (852.3 ) **** 77.1 **** 929.5 10,999.8 (666.9 ) 32.2 699.2
Foreign Bonds **** 10,126.1 **** (764.5 ) **** 3.8 **** 768.4 8,953.1 (580.7 ) 14.0 594.7
* In addition to “Securities” on the balance sheets, NCDs in “Cash and Due from Banks” and<br>certain items in “Other Debt Purchased” are also included.
--- ---
* Unrealized Gains/Losses include ¥44.1 billion and ¥36.6 billion as of June 30, 2023 and<br>March 31, 2023, respectively, which were recognized in the statement of income (aggregate figures for the 2 banks) by applying the fair-value hedge accounting.
--- ---
* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the<br>deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment (aggregate figures for the 2 banks) as of June 30, 2023 and March 31, 2023 are ¥116.0 billion (Foreign Bonds ¥246.1 billion and<br>Japanese Government Bonds ¥(16.7) billion) and ¥59.0 billion (Foreign Bonds ¥125.9 billion and Japanese Government Bonds ¥(14.5) billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among<br>hedging instruments (aggregate figures for the 2 banks) as of June 30, 2023 and March 31, 2023 are ¥1,026.2 billion (Foreign Bonds ¥(518.4) billion and Japanese Government Bonds ¥(23.9) billion) and ¥789.5 billion<br>(Foreign Bonds ¥(454.7) billion and Japanese Government Bonds ¥(46.4) billion), respectively.
--- ---

2-5

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity

(Billions of yen)
As of June 30, 2023 As of March 31, 2023
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses Gains Losses
MHBK **** 2,570.0 **** (172.7 ) 1.5 174.2 2,048.1 (133.0 ) 2.5 135.6
MHTB **** — **** — **** — — — — — —
Total **** 2,570.0 **** (172.7 ) 1.5 174.2 2,048.1 (133.0 ) 2.5 135.6
(3) Investments in Subsidiaries andAffiliates
(Billions of yen)
As of June 30, 2023 As of March 31, 2023
Book Value Unrealized Gains/Losses Book Value Unrealized Gains/Losses
Gains Losses Gains Losses
MHBK **** 106.1 **** 432.7 **** 432.7 — 106.1 355.9 355.9 —
MHTB **** — **** — **** — — — — — —
Total **** 106.1 **** 432.7 **** 432.7 — 106.1 355.9 355.9 —

(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

(Billions of yen)
As of June 30, 2023 As of<br>March 31,2023
Unrealized Gains/Losses Unrealized<br>Gains/Losses
Change
Other Securities **** 934.7 **** 181.4 753.3
Japanese Stocks **** 1,818.0 **** 336.2 1,481.7
Japanese Bonds **** (31.2 ) 30.2 (61.4 )
Japanese Government Bonds **** (7.2 ) 24.7 (31.9 )
Other **** (852.0 ) (185.1 ) (666.9 )
Foreign Bonds **** (764.7 ) (184.1 ) (580.5 )
Non-Consolidated
Aggregate Figures for the 2 Banks
(Billions of yen)
As of June 30, 2023 As of<br>March 31,2023
Unrealized Gains/Losses Unrealized<br>Gains/Losses
Change
Other Securities **** 865.9 **** 172.0 693.8
Japanese Stocks **** 1,749.5 **** 327.2 1,422.3
Japanese Bonds **** (31.2 ) 30.2 (61.4 )
Japanese Government Bonds **** (7.2 ) 24.7 (31.9 )
Other **** (852.3 ) (185.3 ) (666.9 )
Foreign Bonds **** (764.5 ) (183.8 ) (580.7 )

2-6

Mizuho Financial Group, Inc.

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

Consolidated

(Billions of yen)
As of June 30, 2023 As of<br>March 31, 2023
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 42.5 (1.2 ) 43.8
Claims with Collection Risk **** 617.9 (37.4 ) 655.3
Claims for Special Attention **** 502.0 129.6 372.4
Loans Past Due for 3 Months or More **** 0.3 0.0 0.2
Restructured Loans **** 501.7 129.5 372.1
Sub-total[1] **** 1,162.5 90.8 1,071.6
Normal Claims **** 103,623.8 3,166.8 100,457.0
Total[2] **** 104,786.4 3,257.7 101,528.7
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table<br>below.
Amount of Partial Direct Write-offs **** 110.7 23.4 87.2
(%)
NPL ratio[1]/[2] **** 1.10 0.05 1.05
Trust Account
(Billions of yen)
As of June 30, 2023 As of<br>March 31, 2023
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 **** 2.7 (0.0 ) 2.8
Total[4] **** 2.7 (0.0 ) 2.8
(%)
NPL ratio[3]/[4] **** — — —

2-7

Mizuho Financial Group, Inc.

Consolidated + Trust Account

(Billions of yen)
As of June 30, 2023 As of<br>March 31, 2023
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 42.5 (1.2 ) 43.8
Claims with Collection Risk **** 617.9 (37.4 ) 655.3
Claims for Special Attention **** 502.0 129.6 372.4
Loans Past Due for 3 Months or More **** 0.3 0.0 0.2
Restructured Loans **** 501.7 129.5 372.1
Sub-total[5] **** 1,162.5 90.8 1,071.6
Normal Claims **** 103,626.5 3,166.7 100,459.8
Total[6] **** 104,789.1 3,257.6 101,531.5
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 110.7 23.4 87.2
(%)
NPL ratio[5]/[6] **** 1.10 0.05 1.05

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

2-8

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account +Trust Account)

(Billions of yen)
As of June 30, 2023 As of<br>March 31, 2023
Change
Claims against Bankrupt and Substantially Bankrupt Obligors **** 32.6 (1.3 ) 34.0
Claims with Collection Risk **** 620.5 (37.9 ) 658.4
Claims for Special Attention **** 493.7 138.8 354.9
Loans Past Due for 3 Months or More **** 0.3 0.0 0.2
Restructured Loans **** 493.4 138.7 354.6
Sub-total[1] **** 1,146.9 99.4 1,047.4
Normal Claims **** 106,160.3 3,048.0 103,112.2
Total[2] **** 107,307.2 3,147.5 104,159.7
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 108.2 23.4 84.7
(%)
NPL ratio[1]/[2] **** 1.06 0.06 1.00
Mizuho Bank
(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** 32.5 (1.3 ) 33.8
Claims with Collection Risk **** 613.2 (37.9 ) 651.2
Claims for Special Attention **** 487.3 140.7 346.6
Loans Past Due for 3 Months or More **** 0.3 0.0 0.2
Restructured Loans **** 487.0 140.6 346.3
Sub-total[3] **** 1,133.1 101.4 1,031.7
Normal Claims **** 103,132.9 3,093.7 100,039.2
Total[4] **** 104,266.1 3,195.1 101,071.0
Above figures<br>are presented net of partial direct write-offs, the amounts of which are indicated in the table below.
Amount of Partial Direct Write-offs **** 108.0 23.4 84.5
(%)
NPL ratio[3]/[4] **** 1.08 0.06 1.02

2-9

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)

(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** 0.1 (0.0 ) 0.1
Claims with Collection Risk **** 7.2 (0.0 ) 7.2
Claims for Special Attention **** 6.3 (1.9 ) 8.2
Loans Past Due for 3 Months or More **** — — —
Restructured Loans **** 6.3 (1.9 ) 8.2
Sub-total[5] **** 13.7 (1.9 ) 15.7
Normal Claims **** 3,024.6 (45.5 ) 3,070.2
Total[6] **** 3,038.3 (47.5 ) 3,085.9
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table<br>below.
Amount of Partial Direct Write-offs **** 0.2 (0.0 ) 0.2
(%)
NPL ratio[5]/[6] **** 0.45 (0.05 ) 0.50
(Trust Account)
(Billions of yen)
Claims against Bankrupt and Substantially Bankrupt Obligors **** — — —
Claims with Collection Risk **** — — —
Claims for Special Attention **** — — —
Loans Past Due for 3 Months or More **** — — —
Restructured Loans **** — — —
Sub-total[7] **** — — —
Normal Claims **** 2.7 (0.0 ) 2.8
Total[8] **** 2.7 (0.0 ) 2.8
(%)
NPL ratio[7]/[8] **** — — —

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

2-10

Mizuho Financial Group, Inc.

5. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks

(Billions of yen)
As of<br>June 30, 2023 As of<br>March 31, 2023
Change
MHBK **** 140,793.8 (4,364.1 ) 145,157.9
MHTB **** 3,005.3 225.2 2,780.0
Total **** 143,799.1 (4,138.8 ) 147,937.9

(1)-2 DomesticDeposits

Aggregate Figures for the 2 Banks

(Billions of yen)
As of<br>June 30, 2023 As of<br>March 31, 2023
Change
MHBK **** 111,962.0 (4,440.7 ) 116,402.8
Individual deposits **** 48,015.8 707.2 47,308.5
MHTB **** 3,005.3 225.2 2,780.0
Individual deposits **** 774.0 (0.1 ) 774.2
Total **** 114,967.3 (4,215.4 ) 119,182.8
Individual deposits **** 48,789.9 707.1 48,082.7

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

(2) Loans and Bills Discounted

Aggregate Figures forthe 2 Banks

(Billions of yen)
As of<br>June 30, 2023 As of<br>March 31, 2023
Change
MHBK **** 89,649.0 2,368.7 87,280.3
MHTB **** 3,013.4 (52.2 ) 3,065.7
Total **** 92,662.5 2,316.4 90,346.1

Note: Loans to MHFG are included as follows:

As of June 30, 2023:     ¥504.0 billion (from MHBK)

As of March 31, 2023: ¥810.0 billion (from MHBK)

2-11

Mizuho Financial Group, Inc.

(3) Interest Margins (Domestic Operations)

Mizuho Bank

(%)
First Quarter of<br><br><br>Fiscal 2023<br><br><br>(For the three months) Change First Quarter of<br><br><br>Fiscal 2022<br><br><br>(For the three months)
Return on Loans and Bills Discounted 1 0.75 0.01 0.73
Cost of Deposits 2 0.00 (0.00) 0.00
Loan and Deposit Rate Margin [1]-[2] 3 0.75 0.01 0.73
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 4 0.77 0.01 0.75
Loan and Deposit Rate Margin [4]-[2] 5 0.77 0.02 0.74
Mizuho Trust & Banking
(%)
First Quarter of<br><br><br>Fiscal 2023<br> <br>(For the threemonths) Change First Quarter of<br><br><br>Fiscal 2022<br> <br>(For the threemonths)
Return on Loans and Bills Discounted 6 0.62 0.01 0.60
Cost of Deposits 7 0.00 (0.00) 0.00
Loan and Deposit Rate Margin [6]-[7] 8 0.61 0.02 0.59
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 9 0.62 0.01 0.60
Loan and Deposit Rate Margin [9]-[7] 10 0.61 0.02 0.59
(Reference)
Aggregate Figures for the 2 Banks
(%)
First Quarter of<br><br><br>Fiscal 2023<br> <br>(For the threemonths) Change First Quarter of<br><br><br>Fiscal 2022<br> <br>(For the threemonths)
Return on Loans and Bills Discounted 11 0.74 0.01 0.73
Cost of Deposits 12 0.00 (0.00) 0.00
Loan and Deposit Rate Margin [11]-[12] 13 0.74 0.01 0.72
Notes:    1. Return on Loans and Bills Discounted excludes loans to financial institutions<br>(including MHFG).<br> <br>2. Deposits include NCDs.
(Reference) After excluding Loans to the Japanese government and others
Return on Loans and Bills Discounted 14 0.76 0.01 0.74
Loan and Deposit Rate Margin [14]-[12] 15 0.76 0.02 0.74

2-12

Mizuho Bank, Ltd.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

Millions of yen
As of<br>June 30,<br>2023 (A) As of<br>March 31,<br>2023 (B) Change<br>(A) - (B)
Assets
Cash and Due from Banks ¥ 57,834,827 **** ¥ 63,079,031 ¥ (5,244,204 )
Call Loans **** 1,453,352 **** 1,812,740 (359,388 )
Receivables under Resale Agreements **** 1,729,585 **** 868,058 861,527
Guarantee Deposits Paid under Securities Borrowing Transactions **** 291,463 **** 156,807 134,656
Other Debt Purchased **** 684,858 **** 651,514 33,344
Trading Assets **** 7,520,562 **** 5,422,696 2,097,866
Money Held in Trust **** 505 **** 504 0
Securities **** 43,815,671 **** 37,110,218 6,705,453
Loans and Bills Discounted **** 89,649,088 **** 87,280,378 2,368,709
Foreign Exchange Assets **** 2,337,877 **** 2,293,584 44,293
Derivatives other than for Trading **** 11,486,267 **** 8,392,051 3,094,215
Other Assets **** 8,226,328 **** 7,910,755 315,573
Tangible Fixed Assets **** 854,726 **** 858,037 (3,310 )
Intangible Fixed Assets **** 360,834 **** 352,884 7,950
Prepaid Pension Cost **** 383,955 **** 403,530 (19,574 )
Deferred Tax Assets **** 320,295 **** 382,227 (61,932 )
Customers’ Liabilities for Acceptances and Guarantees **** 10,731,168 **** 10,003,767 727,401
Reserves for Possible Losses on Loans **** (645,357 ) (701,652 ) 56,294
Total Assets ¥ 237,036,013 **** ¥ 226,277,135 ¥ 10,758,877
Liabilities
Deposits ¥ 140,793,801 **** ¥ 145,157,919 ¥ (4,364,118 )
Negotiable Certificates of Deposit **** 19,258,891 **** 13,272,253 5,986,637
Call Money **** 1,093,229 **** 1,229,224 (135,994 )
Payables under Repurchase Agreements **** 14,490,592 **** 14,106,366 384,225
Guarantee Deposits Received under Securities Lending Transactions **** 413,105 **** 93,216 319,889
Commercial Paper **** 1,636,507 **** 1,782,111 (145,603 )
Trading Liabilities **** 6,221,331 **** 4,574,447 1,646,884
Borrowed Money **** 12,746,224 **** 12,507,802 238,421
Foreign Exchange Liabilities **** 1,100,077 **** 889,189 210,888
Bonds and Notes **** 621,330 **** 585,861 35,468
Derivatives other than for Trading **** 12,549,204 **** 8,976,741 3,572,463
Other Liabilities **** 8,885,250 **** 6,320,855 2,564,395
Reserve for Bonus Payments **** 139 **** 26,406 (26,267 )
Reserve for Variable Compensation **** 724 **** 757 (32 )
Reserve for Possible Losses on Sales of Loans **** 9,530 **** 15,049 (5,519 )
Reserve for Contingencies **** 4,215 **** 4,781 (565 )
Reserve for Reimbursement of Deposits **** 12,152 **** 12,980 (827 )
Reserve for Reimbursement of Debentures **** 6,973 **** 7,798 (824 )
Deferred Tax Liabilities for Revaluation Reserve for Land **** 58,061 **** 58,711 (649 )
Acceptances and Guarantees **** 10,731,168 **** 10,003,767 727,401
Total Liabilities **** 230,632,513 **** 219,626,240 11,006,272
Net Assets
Common Stock and Preferred Stock **** 1,404,065 **** 1,404,065 —
Capital Surplus **** 2,259,392 **** 2,259,392 —
Capital Reserve **** 660,805 **** 660,805 —
Other Capital Surplus **** 1,598,587 **** 1,598,587 —
Retained Earnings **** 2,403,173 **** 2,757,032 (353,859 )
Appropriated Reserve **** 524,533 **** 421,264 103,269
Other Retained Earnings **** 1,878,639 **** 2,335,768 (457,129 )
Retained Earnings Brought Forward **** 1,878,639 **** 2,335,768 (457,129 )
Total Shareholders’ Equity **** 6,066,630 **** 6,420,490 (353,859 )
Net Unrealized Gains (Losses) on Other Securities, net of Taxes **** 592,536 **** 468,873 123,663
Net Deferred Hedge Gains (Losses), net of Taxes **** (383,631 ) (367,790 ) (15,840 )
Revaluation Reserve for Land, net of Taxes **** 127,963 **** 129,321 (1,358 )
Total Valuation and Translation Adjustments **** 336,868 **** 230,404 106,464
Total Net Assets **** 6,403,499 **** 6,650,894 (247,395 )
Total Liabilities and Net Assets ¥ 237,036,013 **** ¥ 226,277,135 ¥ 10,758,877

2-13

Mizuho Bank, Ltd.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OFINCOME (selected items)

OF MIZUHO BANK

Millions of yen
For the three monthsended June 30, 2023(A) For the three monthsended June 30, 2022(B) Change(A) - (B)
Ordinary Income ¥ 1,318,435 ¥ 664,278 ¥ 654,157
Interest Income **** 1,039,208 377,748 661,459
Interest on Loans and Bills Discounted **** 606,408 247,729 358,678
Interest and Dividends on Securities **** 109,345 75,693 33,651
Fee and Commission Income **** 135,480 128,769 6,711
Trading Income **** 151 44 107
Other Operating Income **** 57,605 127,636 (70,030 )
Other Ordinary Income **** 85,989 30,079 55,909
Ordinary Expenses **** 1,115,515 528,733 586,781
Interest Expenses **** 828,977 144,855 684,122
Interest on Deposits **** 372,698 48,358 324,340
Fee and Commission Expenses **** 53,042 44,811 8,231
Trading Expenses **** 4,702 58,382 (53,679 )
Other Operating Expenses **** 6,633 9,442 (2,808 )
General and Administrative Expenses **** 191,947 185,033 6,914
Other Ordinary Expenses **** 30,211 86,209 (55,998 )
Ordinary Profits **** 202,920 135,544 67,375
Extraordinary Gains **** 20,018 3,505 16,513
Extraordinary Losses **** 295 365 (69 )
Income before Income Taxes **** 222,643 138,684 83,958
Income Taxes:
Current **** 27,444 58,942 (31,498 )
Deferred **** 34,067 (21,487 ) 55,554
Net Income ¥ 161,131 ¥ 101,229 ¥ 59,901

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