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 January 2019

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

Form 20-F ☒     Form 40-F ☐

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

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

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐    No ☒

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

 

 

 

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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NO. 333-213187) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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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.

 

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For Immediate Release:

 

		Consolidated Financial Statements for the Third Quarter of Fiscal 2018 (Nine months ended December 31, 2018) <Under Japanese GAAP>

 

Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		January 31, 2019

Stock Code Number (Japan):		8411
Stock Exchange Listings:		Tokyo Stock Exchange (First Section), New York Stock Exchange
URL:		https://www.mizuho-fg.com/index.html
Representative:		Tatsufumi Sakai		President & CEO
For Inquiry:		Masahiro Kosugi		Executive Officer,
				General Manager of Accounting		Phone: +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):				February 14, 2019		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 Third Quarter of Fiscal 2018 (for the nine months ended December 31, 2018)

(1) Consolidated Results of Operations (Accumulated Period)

 

(%: Changes from the corresponding period of the previous fiscal year)
		Ordinary Income								Ordinary Profits								Profit Attributable to Owners of Parent
		¥ million				%				¥ million				%				¥ million				%
3Q F2018			2,858,287				6.8				547,561				(15.0	)			409,929				(13.8	)
3Q F2017			2,674,120				11.6				644,556				11.9				475,703				(5.7	)

 

Note:		Comprehensive Income: 3Q F2018: ¥(5,918) million, (100.7)%; 3Q F2017: ¥802,214 million, 107.2%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock
		¥				¥
3Q F2018			16.16				16.16
3Q F2017			18.75				18.74

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
3Q F2018			201,634,284				9,306,099				4.3
Fiscal 2017			205,028,300				9,821,246				4.4

 

Reference:		Own Capital: As of December 31, 2018: ¥8,855,389 million; As of March 31, 2018: ¥9,065,843 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 Ratio.

2. Cash Dividends for Shareholders of Common Stock

 

		Annual Cash Dividends per Share
		First Quarter-end				Second Quarter-end				Third Quarter-end				Fiscal Year-end				Total
		¥				¥				¥				¥				¥
Fiscal 2017			—				3.75				—				3.75				7.50
Fiscal 2018			—				3.75				—
Fiscal 2018 (estimate)															3.75				7.50

 

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

3. Consolidated Earnings Estimates for Fiscal 2018 (for the fiscal year ending March 31, 2019)

 

(%: Changes from the previous fiscal year)
		Profit Attributable to Owners of Parent								Net Income per Share of Common Stock
		¥ million				%				¥
Fiscal 2018			570,000				(1.1	)			22.47

 

Notes:			1.					Revision of the latest announced earnings estimates for fiscal 2018: 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 shares during 1Q, 2Q and 3Q and the number of outstanding shares as of December 31, 2018 (which is used as a proxy for the average number of shares during 4Q of fiscal 2018).

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* 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

① Changes in accounting policies due to revisions of accounting standards, etc. No

② Changes in accounting policies other than ① above: No

③ Changes in accounting estimates: No

④ Restatements: No

(4) Issued Shares of Common Stock

 

This immediate release is outside the scope of quarterly review.

 

 

This immediate release contains statements that constitute forward-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 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 our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: 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 related to our pension plans; a decline in our deferred tax assets; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our Medium-term Business Plan, realize the synergy effects of “One MIZUHO,” and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3. D. 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 26, 2018, both of which are available in the Financial Information section of our web page at www.mizuho-fg.com/index.html and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-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.

 

 

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Mizuho Financial Group, Inc.

 

¡ Contents of Attachment

 

1.		Quarterly Consolidated Financial Statements and Others			p.1-2
		(1) Consolidated Balance Sheets			p.1-2
		(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			p.1-4
		(3) Note for Assumption of Going Concern			p.1-6
		(4) Note for Significant Changes in the Amount of Shareholders’ Equity			p.1-6
		øSELECTED FINANCIAL INFORMATION For the Third Quarter of Fiscal 2018

[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

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Mizuho Financial Group, Inc.

 

1. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets

 

		Millions of yen
		As of March 31, 2018				As of December 31, 2018
Assets
Cash and Due from Banks		¥	47,725,360			¥	43,823,523
Call Loans and Bills Purchased			715,149				589,863
Receivables under Resale Agreements			8,080,873				12,722,847
Guarantee Deposits Paid under Securities Borrowing Transactions			4,350,527				2,645,905
Other Debt Purchased			2,713,742				2,733,410
Trading Assets			10,507,133				12,940,574
Money Held in Trust			337,429				296,254
Securities			34,183,033				31,222,656
Loans and Bills Discounted			79,421,473				78,557,944
Foreign Exchange Assets			1,941,677				2,159,422
Derivatives other than for Trading Assets			1,807,999				1,469,143
Other Assets			4,588,484				3,565,249
Tangible Fixed Assets			1,111,128				1,085,821
Intangible Fixed Assets			1,092,708				1,047,702
Net Defined Benefit Asset			996,173				989,216
Deferred Tax Assets			47,839				46,386
Customers’ Liabilities for Acceptances and Guarantees			5,723,186				6,008,016
Reserves for Possible Losses on Loans			(315,621	)			(269,653	)
Total Assets		¥	205,028,300			¥	201,634,284

 

1-2

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Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2018				As of December 31, 2018
Liabilities
Deposits		¥	125,081,233			¥	121,248,634
Negotiable Certificates of Deposit			11,382,590				13,699,564
Call Money and Bills Sold			2,105,293				2,191,302
Payables under Repurchase Agreements			16,656,828				18,625,422
Guarantee Deposits Received under Securities Lending Transactions			1,566,833				908,872
Commercial Paper			710,391				956,670
Trading Liabilities			8,121,543				8,329,616
Borrowed Money			4,896,218				4,124,799
Foreign Exchange Liabilities			445,804				527,815
Short-term Bonds			362,185				355,795
Bonds and Notes			7,544,256				8,536,593
Due to Trust Accounts			4,733,131				1,095,516
Derivatives other than for Trading Liabilities			1,514,483				1,283,491
Other Liabilities			3,685,585				3,967,625
Reserve for Bonus Payments			66,872				34,477
Reserve for Variable Compensation			3,242				2,192
Net Defined Benefit Liability			58,890				59,834
Reserve for Director and Corporate Auditor Retirement Benefits			1,460				1,377
Reserve for Possible Losses on Sales of Loans			1,075				180
Reserve for Contingencies			5,622				5,019
Reserve for Reimbursement of Deposits			20,011				17,291
Reserve for Reimbursement of Debentures			30,760				26,847
Reserves under Special Laws			2,361				2,365
Deferred Tax Liabilities			421,002				253,130
Deferred Tax Liabilities for Revaluation Reserve for Land			66,186				65,732
Acceptances and Guarantees			5,723,186				6,008,016
Total Liabilities		¥	195,207,054			¥	192,328,185
Net Assets
Common Stock		¥	2,256,548			¥	2,256,767
Capital Surplus			1,134,922				1,138,427
Retained Earnings			4,002,835				4,223,408
Treasury Stock			(5,997	)			(7,768	)
Total Shareholders’ Equity			7,388,309				7,610,834
Net Unrealized Gains (Losses) on Other Securities			1,392,392				998,866
Deferred Gains or Losses on Hedges			(67,578	)			(67,771	)
Revaluation Reserve for Land			144,277				143,248
Foreign Currency Translation Adjustments			(85,094	)			(101,372	)
Remeasurements of Defined Benefit Plans			293,536				271,584
Total Accumulated Other Comprehensive Income			1,677,534				1,244,555
Stock Acquisition Rights			1,163				707
Non-Controlling Interests			754,239				450,002
Total Net Assets			9,821,246				9,306,099
Total Liabilities and Net Assets		¥	205,028,300			¥	201,634,284

 

1-3

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Mizuho Financial Group, Inc.

 

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

[Consolidated Statements of Income]

 

		Millions of yen
		For the nine months ended December 31, 2017				For the nine months ended December 31, 2018
Ordinary Income		¥	2,674,120			¥	2,858,287
Interest Income			1,208,466				1,511,057
Interest on Loans and Bills Discounted			753,825				919,300
Interest and Dividends on Securities			200,553				235,733
Fiduciary Income			39,268				39,404
Fee and Commission Income			553,438				546,951
Trading Income			193,420				241,644
Other Operating Income			245,799				242,400
Other Ordinary Income			433,726				276,829
Ordinary Expenses			2,029,563				2,310,725
Interest Expenses			609,687				918,127
Interest on Deposits			234,038				336,981
Fee and Commission Expenses			122,402				123,750
Other Operating Expenses			72,175				75,209
General and Administrative Expenses			1,109,994				1,069,806
Other Ordinary Expenses			115,304				123,831
Ordinary Profits			644,556				547,561
Extraordinary Gains			18,472				10,269
Extraordinary Losses			5,237				4,989
Income before Income Taxes			657,790				552,842
Income Taxes:
Current			156,341				135,469
Deferred			1,968				(11,358	)
Total Income Taxes			158,309				124,110
Profit			499,481				428,731
Profit Attributable to Non-controlling Interests			23,777				18,802
Profit Attributable to Owners of Parent		¥	475,703			¥	409,929

 

1-4

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Mizuho Financial Group, Inc.

 

[Consolidated Statements of Comprehensive Income]

 

		Millions of yen
		For the nine months ended December 31, 2017				For the nine months ended December 31, 2018
Profit		¥	499,481			¥	428,731
Other Comprehensive Income			302,733				(434,650	)
Net Unrealized Gains (Losses) on Other Securities			347,373				(395,379	)
Deferred Gains or Losses on Hedges			(42,969	)			(147	)
Revaluation Reserve for Land			(2	)			—
Foreign Currency Translation Adjustments			4,207				(15,306	)
Remeasurements of Defined Benefit Plans			2,943				(20,544	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			(8,819	)			(3,273	)
Comprehensive Income			802,214				(5,918	)
(Breakdown)
Comprehensive Income Attributable to Owners of Parent			780,443				(22,021	)
Comprehensive Income Attributable to Non-controlling Interests			21,770				16,102

 

1-5

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Mizuho Financial Group, Inc.

 

(3) Note for Assumption of Going Concern

There is no applicable information.

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

There is no applicable information.

 

1-6

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SELECTED FINANCIAL INFORMATION

For the Third Quarter of Fiscal 2018

(Nine months ended December 31, 2018)

<Under Japanese GAAP>

 

 

 

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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 THIRD QUARTER OF FISCAL 2018

See above Notes

Page

1. Income Analysis

CON

NON

2-1

2. Net Gains/Losses on Stocks

CON

NON

2-3

3. Unrealized Gains/Losses on Securities

CON

NON

2-4

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

NON

2-6

5. Status of Disclosed Claims under the Financial Reconstruction Act (“FRA”)

CON

NON

2-7

6. Status of Deposits and Loans

NON

2-9

Attachments

Page

Mizuho Bank, Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-10

Comparison of Non-Consolidated Statements of Income (selected items)

2-11

Mizuho Trust & Banking Co., Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-12

Comparison of Non-Consolidated Statements of Income (selected items)

2-13

Mizuho Securities Co., Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-14

Comparison of Non-Consolidated Statements of Income (selected items)

2-15

 

 

This immediate release contains statements that constitute forward-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 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 our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: 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 related to our pension plans; a decline in our deferred tax assets; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our Medium-term Business Plan, realize the synergy effects of “One MIZUHO,” and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. 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 26, 2018, both of which are available in the Financial Information section of our web page at www.mizuho-fg.com/index.html and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-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.

 

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Mizuho Financial Group, Inc.

 

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2018

1. Income Analysis

Consolidated

 

						(Billions of yen)
						Third Quarter of Fiscal 2018 (Accumulated Period)
										Change				Third Quarter of Fiscal 2017 (Accumulated Period)
Consolidated Gross Profits			1				1,464.3				28.2				1,436.1
Net Interest Income			2				592.9				(5.8	)			598.7
Fiduciary Income			3				39.4				0.1				39.2
Credit Costs for Trust Accounts			4				—				—				—
Net Fee and Commission Income			5				423.2				(7.8	)			431.0
Net Trading Income			6				241.6				48.2				193.4
Net Other Operating Income			7				167.1				(6.4	)			173.6
General and Administrative Expenses			8				(1,069.8	)			40.1				(1,109.9	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)			9				(24.8	)			(10.4	)			(14.4	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			10				30.9				(152.9	)			183.8
Net Gains (Losses) related to Stocks			11				162.9				(27.1	)			190.1
Equity in Income from Investments in Affiliates			12				23.4				8.4				14.9
Other			13				(39.4	)			16.7				(56.1	)
Ordinary Profits			14				547.5				(96.9	)			644.5
Net Extraordinary Gains (Losses)			15				5.2				(7.9	)			13.2
Income before Income Taxes			16				552.8				(104.9	)			657.7
Income Taxes			17				(124.1	)			34.1				(158.3	)
Profit			18				428.7				(70.7	)			499.4
Profit Attributable to Non-controlling Interests			19				(18.8	)			4.9				(23.7	)
Profit Attributable to Owners of Parent			20				409.9				(65.7	)			475.7
Credit-related Costs (including Credit Costs for Trust Accounts)			21				6.0				(163.4	)			169.4

* Credit-related Costs [21] =     Expenses related to Portfolio Problems (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				386.8				38.9				347.9

* Consolidated Net Business Profits [22] =  Consolidated Gross Profits [1] – General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

Number of consolidated subsidiaries			23				120				(6	)			126
Number of affiliates under the equity method			24				22				3				19

 

2-1

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Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

						(Billions of yen)
						Third Quarter of Fiscal 2018 (Accumulated Period)																Third Quarter of Fiscal 2017 (Accumulated Period)
						MHBK				MHTB				Aggregate Figures				Change
Gross Profits			1				914.3				82.6				997.0				17.3				979.6
Net Interest Income			2				505.5				19.5				525.1				(1.2	)			526.4
Fiduciary Income			3								39.0				39.0				0.1				38.9
Trust Fees for Jointly Operated Designated Money Trust			4								1.9				1.9				0.1				1.7
Credit Costs for Trust Accounts			5								—				—				—				—
Net Fee and Commission Income			6				263.2				19.1				282.3				5.0				277.2
Net Trading Income			7				57.0				1.2				58.2				22.7				35.5
Net Other Operating Income			8				88.4				3.6				92.1				(9.3	)			101.4
General and Administrative Expenses (excluding Non-Recurring Losses)			9				(648.7	)			(61.6	)			(710.4	)			9.8				(720.2	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) *			10				265.5				21.0				286.5				27.1				259.3
Reversal of (Provision for) General Reserve for Losses on Loans			11				—				(0.0	)			(0.0	)			(0.0	)			—
Net Business Profits			12				265.5				20.9				286.5				27.1				259.3
Net Gains (Losses) related to Bonds			13				11.8				3.5				15.4				(14.3	)			29.7
Net Non-Recurring Gains (Losses)			14				123.4				10.9				134.3				(136.1	)			270.5
Net Gains (Losses) related to Stocks			15				142.7				13.2				156.0				(32.8	)			188.9
Expenses related to Portfolio Problems			16				(22.3	)			0.0				(22.2	)			(10.3	)			(11.9	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			17				29.8				—				29.8				(147.7	)			177.5
Other			18				(26.8	)			(2.3	)			(29.2	)			54.8				(84.0	)
Ordinary Profits			19				388.9				31.8				420.8				(109.0	)			529.9
Net Extraordinary Gains (Losses)			20				5.6				(0.0	)			5.5				(10.0	)			15.6
Income before Income Taxes			21				394.6				31.8				426.4				(119.0	)			545.5
Income Taxes			22				(112.0	)			(8.4	)			(120.5	)			8.5				(129.0	)
Net Income			23				282.5				23.4				305.9				(110.4	)			416.4

*  Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) for MHTB excludes the amounts of “Credit Costs for Trust Accounts” [5].
Credit-related Costs			24				7.5				(0.0	)			7.4				(158.1	)			165.6

* Credit-related  Costs  [24]  =   Expenses related to Portfolio Problems [16] + Reversal of (Provision for) General Reserve for Losses on Loans [11] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [17] + Credit Costs for Trust Accounts [5]

(Reference) Breakdown of Credit-related Costs

Credit Costs for Trust Accounts			25								—				—				—				—
Reversal of (Provision for) General Reserve for Losses on Loans			26				41.7				(0.0	)			41.6				(114.3	)			155.9
Losses on Write-offs of Loans			27				(12.9	)			—				(12.9	)			(10.4	)			(2.5	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			28				(17.1	)			0.0				(17.1	)			(31.9	)			14.7
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			29				(0.0	)			—				(0.0	)			(0.0	)			0.0
Reversal of (Provision for) Reserve for Contingencies			30				(0.2	)			—				(0.2	)			(0.2	)			(0.0	)
Other (including Losses on Sales of Loans)			31				(3.8	)			—				(3.8	)			(1.2	)			(2.5	)
Total			32				7.5				(0.0	)			7.4				(158.1	)			165.6

 

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Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

		(Billions of yen)
		Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			162.9				(27.1	)			190.1
Gains on Sales			204.5				(11.3	)			215.8
Losses on Sales			(31.8	)			(22.8	)			(8.9	)
Impairment (Devaluation)			(3.6	)			(2.0	)			(1.5	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			(6.1	)			8.9				(15.1	)
Non-Consolidated
Aggregate Figures for the 2 Banks
		Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			156.0				(32.8	)			188.9
Gains on Sales			196.0				(16.6	)			212.7
Losses on Sales			(30.8	)			(22.6	)			(8.2	)
Impairment (Devaluation)			(2.5	)			(2.1	)			(0.3	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			(0.3	)			(0.3	)			—
Gains (Losses) on Derivatives other than for Trading			(6.1	)			8.9				(15.1	)
Mizuho Bank
		Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			142.7				(29.4	)			172.1
Gains on Sales			179.3				(16.1	)			195.5
Losses on Sales			(26.5	)			(18.4	)			(8.1	)
Impairment (Devaluation)			(2.4	)			(2.1	)			(0.2	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			(0.3	)			(0.3	)			—
Gains (Losses) on Derivatives other than for Trading			(7.2	)			7.6				(14.9	)
Mizuho Trust & Banking
		Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			13.2				(3.4	)			16.7
Gains on Sales			16.6				(0.5	)			17.1
Losses on Sales			(4.3	)			(4.2	)			(0.1	)
Impairment (Devaluation)			(0.0	)			(0.0	)			(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			1.1				1.2				(0.1	)

 

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Mizuho Financial Group, Inc.

 

3. Unrealized Gains/Losses on Securities

∎ Securities for which it is deemed to be extremely difficult to determine the fair value are excluded.     

Consolidated    

(1) Other Securities

 

		(Billions of yen)
		As of December 31, 2018																As of March 31, 2018																As of September 30, 2018 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
		(=Fair Value)								Gains				Losses				(=Fair Value)								Gains				Losses				(=Fair Value)								Gains				Losses
MHFG (Consolidated)
Other Securities			29,127.0				1,429.2				1,886.4				457.1				31,581.1				1,954.2				2,258.6				304.4				32,722.0				1,871.5				2,246.8				375.3
Japanese Stocks			3,156.9				1,685.7				1,739.3				53.6				3,582.2				2,017.3				2,050.9				33.5				3,517.2				2,015.9				2,053.6				37.6
Japanese Bonds			14,127.5				(0.8	)			29.4				30.3				16,535.6				5.4				37.8				32.4				16,704.7				(26.7	)			22.1				48.9
Japanese Government Bonds			11,384.9				(1.4	)			4.6				6.0				13,332.0				0.6				10.2				9.6				13,450.4				(20.5	)			1.5				22.0
Other			11,842.6				(255.5	)			117.5				373.1				11,463.2				(68.5	)			169.8				238.4				12,500.0				(117.6	)			171.0				288.7
Foreign Bonds			8,827.8				(144.5	)			8.5				153.1				8,329.1				(166.0	)			11.6				177.7				9,402.5				(223.0	)			6.5				229.6

 

*	In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included.

*	Fair value of Japanese stocks with a quoted market price is determined based on the average quoted market price over the month preceding the consolidated balance sheet date.

Fair value of securities other than Japanese stocks is determined at the quoted market price if available, or other reasonable value at the consolidated balance sheet date.

*	Unrealized Gains/Losses include ¥47.8billion, ¥26.1billion, and ¥28.2billion, which were recognized in the statement of income for December 31, 2018, September 30, 2018, and March 31, 2018 respectively, by applying the fair-value hedge method.

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of December 31, 2018																As of March 31, 2018																As of September 30, 2018 (Reference)
						Unrealized Gains/Losses																Unrealized Gains/Losses																Unrealized Gains/Losses
		Book Value								Gains				Losses				Book Value								Gains				Losses				Book Value								Gains				Losses
MHFG (Consolidated)			1,859.7				2.7				20.1				17.3				2,515.8				6.0				24.4				18.4				2,135.1				(2.8	)			19.4				22.2

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities

 

		(Billions of yen)
		As of December 31, 2018																As of March 31, 2018																As of September 30, 2018 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
		(=Fair Value)								Gains				Losses				(=Fair Value)								Gains				Losses				(=Fair Value)								Gains				Losses
MHBK
Other Securities			27,630.2				1,193.1				1,628.0				434.8				29,418.1				1,617.8				1,909.2				291.3				30,717.2				1,557.4				1,921.0				363.5
Japanese Stocks			2,884.3				1,512.1				1,565.8				53.7				3,260.1				1,800.8				1,834.2				33.4				3,208.3				1,808.0				1,846.1				38.0
Japanese Bonds			13,827.6				(1.5	)			28.5				30.1				15,784.8				4.4				36.1				31.6				16,067.0				(26.8	)			21.3				48.1
Japanese Government Bonds			11,171.1				(1.4	)			4.4				5.8				12,918.7				0.0				9.1				9.0				13,223.6				(20.2	)			1.3				21.5
Other			10,918.2				(317.4	)			33.5				351.0				10,373.1				(187.4	)			38.8				226.2				11,441.8				(223.7	)			53.5				277.2
Foreign Bonds			8,296.9				(140.7	)			6.5				147.3				7,870.9				(159.1	)			10.7				169.9				8,908.4				(213.7	)			5.6				219.4
MHTB
Other Securities			899.4				83.4				108.6				25.2				1,042.5				124.6				139.1				14.5				931.8				120.0				134.3				14.2
Japanese Stocks			195.5				102.0				105.4				3.3				227.2				128.4				131.9				3.4				219.0				124.5				127.4				2.8
Japanese Bonds			278.4				0.6				0.9				0.2				463.3				1.0				1.6				0.5				295.3				0.1				0.7				0.5
Japanese Government Bonds			195.5				(0.0	)			0.1				0.2				390.4				0.5				1.0				0.5				205.2				(0.3	)			0.1				0.4
Other			425.4				(19.3	)			2.2				21.6				351.9				(4.8	)			5.6				10.4				417.4				(4.6	)			6.1				10.7
Foreign Bonds			267.0				(4.4	)			0.9				5.4				158.2				(5.9	)			0.1				6.1				221.5				(9.5	)			—				9.5
Total
Other Securities			28,529.7				1,276.5				1,736.7				460.1				30,460.6				1,742.5				2,048.4				305.8				31,649.1				1,677.5				2,055.3				377.8
Japanese Stocks			3,079.9				1,614.2				1,671.3				57.0				3,487.4				1,929.3				1,966.1				36.8				3,427.4				1,932.6				1,973.5				40.9
Japanese Bonds			14,106.0				(0.9	)			29.4				30.3				16,248.1				5.5				37.8				32.2				16,362.3				(26.6	)			22.1				48.7
Japanese Government Bonds			11,366.7				(1.4	)			4.6				6.0				13,309.1				0.6				10.2				9.6				13,428.9				(20.5	)			1.4				22.0
Other			11,343.7				(336.8	)			35.8				372.6				10,725.0				(192.3	)			44.4				236.7				11,859.2				(228.4	)			59.6				288.0
Foreign Bonds			8,563.9				(145.2	)			7.5				152.8				8,029.2				(165.1	)			10.9				176.1				9,130.0				(223.3	)			5.6				228.9

 

*	In addition to “Securities” on the balance sheets, NCDs in “Cash and Due from Banks” and certain items in “Other Debt Purchased” are also included.

*	Fair value of Japanese stocks with a quoted market price is determined based on the average quoted market price over the month preceding the balance sheet date.

Fair value of securities other than Japanese stocks is determined at the quoted market price if available, or other reasonable value at the balance sheet date.

*	Unrealized Gains/Losses include ¥47.8billion, ¥26.1billion, and ¥28.2billion, which were recognized in the statement of income (aggregate figures for the 2 banks) for December 31, 2018, September 30, 2018, and March 31, 2018 respectively, by applying the fair-value hedge method.

 

2-4

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Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of December 31, 2018																As of March 31, 2018																As of September 30, 2018 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHBK			1,859.7				2.7				20.1				17.3				2,515.8				6.0				24.4				18.4				2,135.1				(2.8	)			19.4				22.2
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			1,859.7				2.7				20.1				17.3				2,515.8				6.0				24.4				18.4				2,135.1				(2.8	)			19.4				22.2
(3) Investments in Subsidiaries and Affiliates
		(Billions of yen)
		As of December 31, 2018																As of March 31, 2018																As of September 30, 2018 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHBK			108.6				159.1				162.2				3.1				108.6				216.0				218.4				2.3				108.6				196.3				198.6				2.2
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			108.6				159.1				162.2				3.1				108.6				216.0				218.4				2.3				108.6				196.3				198.6				2.2

(Reference)

Unrealized Gains/Losses on Other Securities

(the base amount to be recorded directly to Net Assets after tax and other necessary adjustments)

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

The base amounts are as follows:

Consolidated

 

		(Billions of yen)
		As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
		Unrealized Gains/ Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			1,381.3				(544.5	)			1,925.9				1,845.3
Japanese Stocks			1,664.0				(320.2	)			1,984.2				1,972.5
Japanese Bonds			(0.8	)			(6.3	)			5.4				(26.7	)
Japanese Government Bonds			(1.4	)			(2.0	)			0.6				(20.5	)
Other			(281.7	)			(218.0	)			(63.7	)			(100.4	)
Foreign Bonds			(170.7	)			(9.4	)			(161.2	)			(205.8	)
Non-Consolidated   Aggregate Figures for the 2 Banks
		(Billions of yen)
		As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
		Unrealized Gains/Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			1,228.6				(485.6	)			1,714.2				1,651.4
Japanese Stocks			1,592.5				(303.6	)			1,896.2				1,889.2
Japanese Bonds			(0.9	)			(6.4	)			5.5				(26.6	)
Japanese Government Bonds			(1.4	)			(2.0	)			0.6				(20.5	)
Other			(362.9	)			(175.4	)			(187.4	)			(211.1	)
Foreign Bonds			(171.4	)			(11.1	)			(160.2	)			(206.0	)

 

2-5

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Mizuho Financial Group, Inc.

 

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

Non-Consolidated

Aggregate Figures for the 2 Banks

 

		(Billions of yen)
		As of December 31, 2018												As of March 31, 2018												As of September 30, 2018 (Reference)
		Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses
		Gains				Losses								Gains				Losses								Gains				Losses
MHBK			728.2				833.9				(105.7	)			632.8				741.8				(109.0	)			655.5				845.1				(189.6	)
MHTB			86.0				86.7				(0.6	)			95.6				93.3				2.3				89.3				86.4				2.8
Total			814.3				920.6				(106.3	)			728.5				835.1				(106.6	)			744.9				931.6				(186.7	)

 

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

 

2-6

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Mizuho Financial Group, Inc.

 

5. Status of Disclosed Claims under the Financial Reconstruction Act (“FRA”)

Consolidated

 

		(Billions of yen)
		As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
						Change
Consolidated
Claims against Bankrupt and Substantially Bankrupt Obligors			74.0				(13.3	)			87.3				77.5
Claims with Collection Risk			325.4				33.6				291.7				270.6
Claims for Special Attention			200.7				(40.6	)			241.3				208.6
Total			600.2				(20.2	)			620.4				556.7
Trust Account
Claims against Bankrupt and Substantially Bankrupt Obligors			—				—				—				—
Claims with Collection Risk			2.8				(0.0	)			2.8				2.8
Claims for Special Attention			—				—				—				—
Total			2.8				(0.0	)			2.8				2.8
Total (Consolidated + Trust Account)
Claims against Bankrupt and Substantially Bankrupt Obligors			74.0				(13.3	)			87.3				77.5
Claims with Collection Risk			328.2				33.6				294.5				273.4
Claims for Special Attention			200.7				(40.6	)			241.3				208.6
Total			603.0				(20.2	)			623.3				559.5
Note: Trust Account denotes trust accounts with contracts indemnifying the principal amounts.

 

2-7

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Mizuho Financial Group, Inc.

 

Non-Consolidated   Aggregate Figures for the 2 Banks   Total (Banking Account + Trust Account)
		(Billions of yen, %)
		As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
						Change
Claims against Bankrupt and Substantially Bankrupt Obligors			77.8				1.2				76.6				81.2
Claims with Collection Risk			325.3				41.0				284.2				267.6
Claims for Special Attention			166.9				(30.9	)			197.8				169.3
Sub-total [1]			570.2				11.4				558.7				518.2
NPL ratio [1]/[2]			0.63	%			(0.02	)%			0.66	%			0.58	%
Normal Claims			89,385.2				5,741.0				83,644.2				87,911.0
Total [2]			89,955.5				5,752.4				84,203.0				88,429.3
MHBK
Claims against Bankrupt and Substantially Bankrupt Obligors			77.4				1.6				75.7				80.7
Claims with Collection Risk			320.0				41.0				279.0				262.3
Claims for Special Attention			165.5				(31.2	)			196.8				168.0
Sub-total [3]			563.0				11.4				551.6				511.0
NPL ratio [3]/[4]			0.65	%			(0.03	)%			0.68	%			0.60	%
Normal Claims			86,022.4				5,838.9				80,183.5				84,523.6
Total [4]			86,585.5				5,850.3				80,735.1				85,034.7
MHTB
Banking Account
Claims against Bankrupt and Substantially Bankrupt Obligors			0.4				(0.4	)			0.8				0.5
Claims with Collection Risk			2.5				0.0				2.4				2.5
Claims for Special Attention			1.3				0.3				1.0				1.3
Sub-total [5]			4.3				(0.0	)			4.3				4.3
NPL ratio [5]/[6]			0.12	%			0.00	%			0.12	%			0.12	%
Normal Claims			3,355.3				(97.0	)			3,452.3				3,379.5
Total [6]			3,359.6				(97.0	)			3,456.6				3,383.9
Trust Account
Claims against Bankrupt and Substantially Bankrupt Obligors			—				—				—				—
Claims with Collection Risk			2.8				(0.0	)			2.8				2.8
Claims for Special Attention			—				—				—				—
Sub-total [7]			2.8				(0.0	)			2.8				2.8
NPL ratio [7]/[8]			27.14	%			1.97	%			25.16	%			26.53	%
Normal Claims			7.5				(0.8	)			8.3				7.8
Total [8]			10.3				(0.8	)			11.2				10.6

 

Notes:			1.			Trust Account denotes trust accounts with contracts indemnifying the principal amounts.
			2.			NPL: Non-Performing Loans

 

2-8

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Mizuho Financial Group, Inc.

 

6. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks

 

								(Billions of yen)
								As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
												Change
MHBK									116,064.4				5,648.4				110,415.9				113,780.5
MHTB									3,404.5				(2.0	)			3,406.5				3,451.2
Total									119,468.9				5,646.4				113,822.5				117,231.8
(1)-2 Domestic Deposits
Aggregate Figures for the 2 Banks
								(Billions of yen)
								As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
												Change
MHBK									94,262.8				872.1				93,390.7				95,380.1
Individual deposits									43,337.9				1,541.1				41,796.8				42,427.9
MHTB									3,394.9				(2.7	)			3,397.6				3,441.4
Individual deposits									943.7				(121.3	)			1,065.1				945.6
Total									97,657.7				869.4				96,788.3				98,821.6
Individual deposits									44,281.7				1,419.8				42,861.9				43,373.6
Note: Above figures do not include deposits booked at overseas offices and offshore deposits.
(2) Loans and Bills Discounted
Aggregate Figures for the 2 Banks
								(Billions of yen)
								As of December 31, 2018								As of March 31, 2018				As of September 30, 2018 (Reference)
												Change
MHBK									76,281.7				5,284.0				70,997.7				74,743.6
MHTB									3,336.0				(97.7	)			3,433.7				3,345.7
Total									79,617.7				5,186.3				74,431.4				78,089.4
Note: Loans to MHFG are included as follows:
As of December 31, 2018: ¥1,025.4 billion (from MHBK)
As of September 30, 2018: ¥916.7 billion (from MHBK)
As of March 31, 2018: ¥1,083.1 billion (from MHBK)

(3) Interest Margins (Domestic Operations)

Mizuho Bank

								(%)
								Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					1				0.80				(0.02	)			0.82
Cost of Deposits					2				0.00				(0.00	)			0.00
Loan and Deposit Rate Margin [1]-[2]					3				0.79				(0.02	)			0.82
Notes:  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					4				0.83				(0.04	)			0.87
Loan and Deposit Rate Margin [4]-[2]					5				0.83				(0.03	)			0.87
Mizuho Trust & Banking
								(%)
								Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					6				0.61				(0.02	)			0.64
Cost of Deposits					7				0.02				0.00				0.02
Loan and Deposit Rate Margin [6]-[7]					8				0.59				(0.02	)			0.62
Notes:  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					9				0.65				(0.03	)			0.68
Loan and Deposit Rate Margin [9]-[7]					10				0.62				(0.03	)			0.66
(Reference)
Aggregate Figures for the 2 Banks
								(%)
								Third Quarter of Fiscal 2018 (Accumulated Period)								Third Quarter of Fiscal 2017 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					11				0.79				(0.02	)			0.81
Cost of Deposits					12				0.00				(0.00	)			0.00
Loan and Deposit Rate Margin [11]-[12]					13				0.78				(0.02	)			0.81
Notes:  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					14				0.82				(0.04	)			0.86
Loan and Deposit Rate Margin [14]-[12]					15				0.81				(0.03	)			0.85

 

2-9

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Mizuho Bank, Ltd.

 

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK

 

		Millions of yen
		As of December 31, 2018 (A)				As of March 31, 2018 (B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	41,230,294			¥	38,625,732			¥	2,604,562
Call Loans			469,491				366,290				103,200
Receivables under Resale Agreements			1,678,536				639,352				1,039,183
Guarantee Deposits Paid under Securities Borrowing Transactions			100,501				—				100,501
Other Debt Purchased			485,937				443,136				42,800
Trading Assets			4,282,880				3,467,593				815,286
Money Held in Trust			503				3,076				(2,572	)
Securities			30,671,759				33,189,959				(2,518,199	)
Loans and Bills Discounted			76,281,736				70,997,730				5,284,006
Foreign Exchange Assets			2,175,665				1,994,728				180,936
Derivatives other than for Trading			3,014,559				3,166,839				(152,279	)
Other Assets			2,622,943				3,240,121				(617,177	)
Tangible Fixed Assets			782,062				805,831				(23,768	)
Intangible Fixed Assets			782,982				799,723				(16,741	)
Prepaid Pension Cost			470,910				457,453				13,456
Customers’ Liabilities for Acceptances and Guarantees			6,408,884				6,186,894				221,990
Reserves for Possible Losses on Loans			(217,506	)			(259,853	)			42,346
Reserve for Possible Losses on Investments			(373	)			(319	)			(53	)
Total Assets		¥	171,241,768			¥	164,124,289			¥	7,117,479
Liabilities
Deposits		¥	116,064,454			¥	110,415,961			¥	5,648,492
Negotiable Certificates of Deposit			13,507,160				10,652,957				2,854,202
Call Money			1,222,196				1,165,198				56,998
Payables under Repurchase Agreements			7,020,036				7,200,312				(180,276	)
Guarantee Deposits Received under Securities Lending Transactions			62,939				610,357				(547,417	)
Commercial Paper			956,670				710,391				246,279
Trading Liabilities			2,431,204				2,797,942				(366,738	)
Borrowed Money			8,983,337				8,958,612				24,724
Foreign Exchange Liabilities			679,058				689,958				(10,899	)
Bonds and Notes			2,134,097				2,421,033				(286,936	)
Derivatives other than for Trading			2,830,786				2,882,287				(51,501	)
Other Liabilities			1,570,127				1,648,314				(78,187	)
Reserve for Bonus Payments			6,348				22,741				(16,392	)
Reserve for Variable Compensation			836				1,293				(457	)
Reserve for Possible Losses on Sales of Loans			180				1,075				(894	)
Reserve for Contingencies			286				56				229
Reserve for Reimbursement of Deposits			15,565				18,097				(2,531	)
Reserve for Reimbursement of Debentures			26,847				30,760				(3,913	)
Deferred Tax Liabilities			74,550				181,914				(107,364	)
Deferred Tax Liabilities for Revaluation Reserve for Land			65,732				66,186				(454	)
Acceptances and Guarantees			6,408,884				6,186,894				221,990
Total Liabilities			164,061,301				156,662,350				7,398,951
Net Assets
Common Stock and Preferred Stock			1,404,065				1,404,065				—
Capital Surplus			2,286,328				2,286,328				—
Capital Reserve			655,418				655,418				—
Other Capital Surplus			1,630,910				1,630,910				—
Retained Earnings			2,585,241				2,544,238				41,003
Appropriated Reserve			315,177				266,664				48,512
Other Retained Earnings			2,270,064				2,277,574				(7,509	)
Retained Earnings Brought Forward			2,270,064				2,277,574				(7,509	)
Total Shareholders’ Equity			6,275,635				6,234,632				41,003
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			835,511				1,159,210				(323,699	)
Net Deferred Hedge Gains (Losses), net of Taxes			(73,928	)			(76,180	)			2,252
Revaluation Reserve for Land, net of Taxes			143,248				144,277				(1,028	)
Total Valuation and Translation Adjustments			904,831				1,227,306				(322,475	)
Total Net Assets			7,180,467				7,461,939				(281,472	)
Total Liabilities and Net Assets		¥	171,241,768			¥	164,124,289			¥	7,117,479

 

2-10

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Mizuho Bank, Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK    

 

		Millions of yen
		For the nine months ended December 31, 2018 (A)				For the nine months ended December 31, 2017 (B)				Change (A) - (B)
Ordinary Income		¥	1,984,732			¥	1,883,230			¥	101,501
Interest Income			1,235,618				992,897				242,721
Interest on Loans and Bills Discounted			823,594				667,191				156,402
Interest and Dividends on Securities			220,881				187,894				32,986
Fee and Commission Income			339,185				337,633				1,552
Trading Income			57,547				34,722				22,824
Other Operating Income			129,932				133,619				(3,686	)
Other Ordinary Income			222,447				384,357				(161,909	)
Ordinary Expenses			1,595,740				1,385,160				210,580
Interest Expenses			730,028				487,215				242,812
Interest on Deposits			312,804				209,472				103,332
Fee and Commission Expenses			75,933				77,572				(1,639	)
Trading Expenses			525				—				525
Other Operating Expenses			41,441				32,668				8,772
General and Administrative Expenses			628,734				675,097				(46,363	)
Other Ordinary Expenses			119,077				112,604				6,473
Ordinary Profits			388,992				498,070				(109,078	)
Extraordinary Gains			10,176				20,026				(9,849	)
Extraordinary Losses			4,558				4,465				92
Income before Income Taxes			394,610				513,630				(119,020	)
Income Taxes:
Current			104,436				119,437				(15,001	)
Deferred			7,635				2,518				5,117
Net Income		¥	282,538			¥	391,674			¥	(109,136	)

 

2-11

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Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)    

OF MIZUHO TRUST & BANKING    

 

		Millions of yen
		As of December 31, 2018 (A)				As of March 31, 2018(B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	1,861,995			¥	1,751,680			¥	110,314
Call Loans			8,319				2,869				5,450
Guarantee Deposits Paid under Securities Borrowing Transactions			328,632				220,934				107,697
Other Debt Purchased			7,013				7,989				(976	)
Trading Assets			92,144				79,551				12,592
Money Held in Trust			3,600				3,199				401
Securities			948,062				1,091,950				(143,887	)
Loans and Bills Discounted			3,336,049				3,433,750				(97,700	)
Foreign Exchange Assets			5,862				2,268				3,593
Other Assets			186,638				171,731				14,906
Tangible Fixed Assets			21,112				21,762				(649	)
Intangible Fixed Assets			33,207				35,041				(1,833	)
Prepaid Pension Cost			54,078				49,592				4,486
Customers’ Liabilities for Acceptances and Guarantees			20,660				20,056				603
Reserves for Possible Losses on Loans			(1,888	)			(1,850	)			(38	)
Total Assets		¥	6,905,489			¥	6,890,529			¥	14,960
Liabilities
Deposits		¥	3,404,544			¥	3,406,588			¥	(2,044	)
Negotiable Certificates of Deposit			428,480				472,180				(43,700	)
Call Money			505,926				469,882				36,044
Payables under Repurchase Agreements			22,186				53,135				(30,949	)
Guarantee Deposits Received under Securities Lending Transactions			324,255				180,728				143,526
Trading Liabilities			85,979				69,367				16,612
Borrowed Money			415,939				387,490				28,448
Foreign Exchange Liabilities			0				—				0
Bonds and Notes			10,000				10,000				—
Due to Trust Accounts			1,095,516				1,134,182				(38,666	)
Other Liabilities			28,578				78,418				(49,839	)
Reserve for Bonus Payments			—				2,097				(2,097	)
Reserve for Variable Compensation			355				511				(156	)
Reserve for Reimbursement of Deposits			1,725				1,913				(188	)
Deferred Tax Liabilities			4,574				13,646				(9,071	)
Acceptances and Guarantees			20,660				20,056				603
Total Liabilities			6,348,722				6,300,200				48,521
Net Assets
Common Stock and Preferred Stock			247,369				247,369				—
Capital Surplus			15,505				15,505				—
Capital Reserve			15,505				15,505				—
Retained Earnings			226,229				226,570				(341	)
Appropriated Reserve			36,719				31,970				4,748
Other Retained Earnings			189,509				194,599				(5,090	)
Retained Earnings Brought Forward			189,509				194,599				(5,090	)
Total Shareholders’ Equity			489,104				489,445				(341	)
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			68,091				99,258				(31,166	)
Net Deferred Hedge Gains (Losses), net of Taxes			(429	)			1,624				(2,053	)
Total Valuation and Translation Adjustments			67,662				100,882				(33,220	)
Total Net Assets			556,766				590,328				(33,561	)
Total Liabilities and Net Assets		¥	6,905,489			¥	6,890,529			¥	14,960

 

2-12

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Mizuho Trust & Banking Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO TRUST & BANKING

 

		Millions of yen
		For the nine months ended December 31, 2018 (A)				For the nine months ended December 31, 2017 (B)				Change (A) - (B)
Ordinary Income		¥	141,550			¥	137,068			¥	4,482
Fiduciary Income			39,040				38,928				111
Interest Income			31,815				30,760				1,054
Interest on Loans and Bills Discounted			20,138				19,121				1,017
Interest and Dividends on Securities			9,965				10,132				(167	)
Fee and Commission Income			43,893				40,589				3,304
Trading Income			1,246				796				450
Other Operating Income			6,308				4,077				2,231
Other Ordinary Income			19,245				21,916				(2,670	)
Ordinary Expenses			109,656				105,229				4,427
Interest Expenses			12,222				9,983				2,238
Interest on Deposits			833				652				181
Fee and Commission Expenses			24,792				23,386				1,405
Trading Expenses			0				0				(0	)
Other Operating Expenses			2,647				3,554				(906	)
General and Administrative Expenses			61,727				65,317				(3,590	)
Other Ordinary Expenses			8,266				2,986				5,280
Ordinary Profits			31,894				31,839				55
Extraordinary Gains			82				182				(100	)
Extraordinary Losses			125				126				(0	)
Income before Income Taxes			31,850				31,895				(44	)
Income Taxes:
Current			5,164				5,047				116
Deferred			3,283				2,087				1,195
Net Income		¥	23,402			¥	24,759			¥	(1,356	)

 

2-13

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Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES

 

		Millions of yen
		As of December 31, 2018 (A)				As of March 31, 2018 (B)				Change (A) - (B)
Assets
Current Assets
Cash and Bank Deposits		¥	329,695			¥	294,441			¥	35,253
Cash Segregated as Deposits for Customers and Others			282,214				323,923				(41,709	)
Trading Assets			5,993,428				4,923,373				1,070,055
Operating Investment Securities			28,661				25,362				3,298
Receivables Related to Margin Transactions			40,361				127,764				(87,402	)
Collateralized Short-Term Financing Agreements-Receivable			4,456,211				4,998,221				(542,010	)
Advances Paid			485				431				53
Securities: Fail to Deliver			25,780				29,956				(4,176	)
Short-Term Loans Receivable			28,089				55,741				(27,652	)
Other Current Assets			422,533				465,443				(42,910	)
Less: Allowance for Doubtful Accounts			(5	)			(9	)			3
Noncurrent Assets
Property and Equipment			13,423				14,647				(1,224	)
Intangible Assets			53,224				55,378				(2,154	)
Investments and Other Assets			321,548				317,378				4,170
Total Assets		¥	11,995,651			¥	11,632,056			¥	363,595
Liabilities
Current Liabilities
Trading Liabilities		¥	4,075,736			¥	4,311,658			¥	(235,921	)
Payables — Unsettled Trades			456,042				62,243				393,799
Payables Related to Margin Transactions			42,137				44,176				(2,038	)
Collateralized Short-Term Financing Agreements-Payable			3,734,117				3,739,715				(5,597	)
Deposits Received			275,327				267,579				7,747
Guarantee Deposits Received			371,642				198,003				173,639
Securities: Fail to Receive			9,245				2,930				6,314
Short-Term Borrowings			793,403				833,668				(40,264	)
Commercial Paper			333,300				334,200				(900	)
Bonds and Notes Due within One Year			77,380				46,672				30,707
Lease Obligations			257				364				(107	)
Income Taxes Payable			1,754				3,984				(2,229	)
Accrued Employees’ Bonuses			5,976				9,563				(3,586	)
Provision for Variable Compensation			715				954				(238	)
Provision for Bonus Point Redemption			619				639				(19	)
Other Current Liabilities			29,633				34,450				(4,816	)
Noncurrent Liabilities
Bonds and Notes			670,334				571,334				99,000
Long-Term Borrowings			211,000				277,000				(66,000	)
Lease Obligations			—				139				(139	)
Provision for Retirement Benefits			19,642				19,744				(102	)
Other Noncurrent Liabilities			1,365				1,540				(175	)
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities			2,365				2,361				4
Total Liabilities			11,112,000				10,762,925				349,074
Net Assets
Common Stock			125,167				125,167				—
Capital Surplus			381,649				381,649				—
Additional Paid — in Capital			285,831				285,831				—
Other Capital Surplus			95,817				95,817				—
Retained Earnings			368,009				346,786				21,223
Other Retained Earnings			368,009				346,786				21,223
Retained Earnings Brought Forward			368,009				346,786				21,223
Total Shareholders’ Equity			874,826				853,602				21,223
Net Unrealized Gains on (Operating) Investment Securities, net of Tax			20,876				27,497				(6,621	)
Net Deferred Gains or Losses on Hedges, net of Tax			(12,052	)			(11,969	)			(82	)
Total Valuation and Translation Adjustments			8,824				15,527				(6,703	)
Total Net Assets			883,650				869,130				14,520
Total Liabilities and Net Assets		¥	11,995,651			¥	11,632,056			¥	363,595

 

2-14

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Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO SECURITIES

 

		Millions of yen
		For the nine months ended December 31, 2018 (A)				For the nine months ended December 31, 2017 (B)				Change (A) - (B)
Operating Revenues		¥	261,775			¥	231,719			¥	30,055
Commissions			116,830				103,286				13,543
Net Gain on Trading			75,751				77,392				(1,640	)
Net Gain on Operating Investment Securities			4,982				2,373				2,608
Interest and Dividend Income			64,210				48,666				15,543
Interest Expenses			54,265				37,620				16,644
Net Operating Revenues			207,509				194,099				13,410
Selling, General and Administrative Expenses			177,849				173,723				4,125
Transaction-Related Expenses			39,674				35,934				3,739
Personnel Expenses			65,984				62,306				3,677
Real Estate Expenses			18,806				19,452				(645	)
Administrative Expenses			33,106				37,454				(4,348	)
Depreciation and Amortization			14,005				12,826				1,178
Taxes and Dues			4,021				3,321				700
Provision of Allowance for Doubtful Accounts			13				(23	)			36
Other			2,236				2,450				(213	)
Operating Income			29,660				20,375				9,285
Non-Operating Income			8,455				6,301				2,153
Non-Operating Expenses			164				971				(806	)
Ordinary Income			37,951				25,705				12,245
Extraordinary Gain			2,426				1,836				589
Extraordinary Loss			1,078				2,142				(1,063	)
Income before Income Taxes			39,299				25,400				13,899
Income Taxes:
Current			3,995				1,764				2,230
Deferred			1,485				3,198				(1,713	)
Net Income		¥	33,818			¥	20,436			¥	13,381

 

2-15