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 2018

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NO. 333-213187) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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 2017 (Nine months ended December 31, 2017) <Under Japanese GAAP>

 

Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		January 31, 2018

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:		Yasuhiro Sato		President & CEO
For Inquiry:		Masahiro Kosugi		General Manager of Accounting		Phone: +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):				February 14, 2018		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 2017 (for the nine months ended December 31, 2017)

(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 F2017			2,674,120				11.6				644,556				11.9				475,703				(5.7	)
3Q F2016			2,395,600				0.4				575,783				(25.2	)			504,655				(2.8	)

 

Note:		Comprehensive Income: 3Q F2017: ¥802,214 million, 107.2%; 3Q F2016: ¥387,090 million, 11.5%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock
		¥				¥
3Q F2017			18.75				18.74
3Q F2016			19.97				19.88

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
3Q F2017			208,443,982				9,869,448				4.3
Fiscal 2016			200,508,610				9,273,361				4.2

 

Reference:		Own Capital: As of December 31, 2017: ¥9,111,763 million; As of March 31, 2017: ¥8,522,268 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 2016			—				3.75				—				3.75				7.50
Fiscal 2017			—				3.75				—
Fiscal 2017 (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 2017 (for the fiscal year ending March 31, 2018)    

 

(%: Changes from the previous fiscal year)
		Profit Attributable to Owners of Parent								Net Income per Share of Common Stock
		¥ million				%				¥
Fiscal 2017			550,000				(8.8	)			21.68

 

Notes:			1.					Revision of the latest announced earnings estimates for fiscal 2017: 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, 2017 (which is used as a proxy for the average number of shares during 4Q of fiscal 2017).

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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 28, 2017, 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 2017

[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, 2017				As of December 31, 2017
Assets
Cash and Due from Banks		¥	47,129,583			¥	47,913,637
Call Loans and Bills Purchased			1,035,746				1,262,721
Receivables under Resale Agreements			8,967,777				9,438,302
Guarantee Deposits Paid under Securities Borrowing Transactions			3,350,051				2,868,193
Other Debt Purchased			2,745,204				2,502,812
Trading Assets			10,361,787				11,414,185
Money Held in Trust			247,583				301,813
Securities			32,353,158				35,065,618
Loans and Bills Discounted			78,337,793				81,563,363
Foreign Exchange Assets			1,828,782				2,230,740
Derivatives other than for Trading Assets			2,170,750				1,533,121
Other Assets			4,180,339				3,717,451
Tangible Fixed Assets			1,136,329				1,111,618
Intangible Fixed Assets			1,045,486				1,093,872
Net Defined Benefit Asset			797,762				803,456
Deferred Tax Assets			56,066				51,183
Customers’ Liabilities for Acceptances and Guarantees			5,273,581				5,886,107
Reserves for Possible Losses on Loans			(509,175	)			(314,217	)
Total Assets		¥	200,508,610			¥	208,443,982

 

1-2

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Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2017				As of December 31, 2017
Liabilities
Deposits		¥	120,045,217			¥	124,895,672
Negotiable Certificates of Deposit			10,631,277				12,518,605
Call Money and Bills Sold			1,255,172				1,651,712
Payables under Repurchase Agreements			17,969,753				19,020,795
Guarantee Deposits Received under Securities Lending Transactions			1,679,300				2,402,938
Commercial Paper			789,705				767,151
Trading Liabilities			7,923,285				7,187,779
Borrowed Money			6,307,230				5,035,902
Foreign Exchange Liabilities			526,053				494,796
Short-term Bonds			226,348				341,098
Bonds and Notes			7,564,535				7,859,582
Due to Trust Accounts			4,784,077				4,570,161
Derivatives other than for Trading Liabilities			1,784,857				1,498,530
Other Liabilities			3,883,168				3,769,749
Reserve for Bonus Payments			67,633				32,688
Reserve for Variable Compensation			3,018				2,430
Net Defined Benefit Liability			55,236				56,888
Reserve for Director and Corporate Auditor Retirement Benefits			1,327				1,389
Reserve for Possible Losses on Sales of Loans			298				209
Reserve for Contingencies			5,680				5,780
Reserve for Reimbursement of Deposits			19,072				17,861
Reserve for Reimbursement of Debentures			32,720				26,198
Reserves under Special Laws			2,309				2,285
Deferred Tax Liabilities			337,800				461,979
Deferred Tax Liabilities for Revaluation Reserve for Land			66,585				66,237
Acceptances and Guarantees			5,273,581				5,886,107
Total Liabilities		¥	191,235,249			¥	198,574,533
Net Assets
Common Stock and Preferred Stock		¥	2,256,275			¥	2,256,548
Capital Surplus			1,134,416				1,134,758
Retained Earnings			3,615,449				3,901,581
Treasury Stock			(4,849	)			(6,052	)
Total Shareholders’ Equity			7,001,291				7,286,835
Net Unrealized Gains (Losses) on Other Securities			1,289,985				1,639,841
Deferred Gains or Losses on Hedges			10,172				(33,354	)
Revaluation Reserve for Land			145,609				144,817
Foreign Currency Translation Adjustments			(69,657	)			(70,062	)
Remeasurements of Defined Benefit Plans			144,866				143,684
Total Accumulated Other Comprehensive Income			1,520,976				1,824,927
Stock Acquisition Rights			1,754				1,163
Non-Controlling Interests			749,339				756,521
Total Net Assets			9,273,361				9,869,448
Total Liabilities and Net Assets		¥	200,508,610			¥	208,443,982

 

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, 2016				For the nine months ended December 31, 2017
Ordinary Income		¥	2,395,600			¥	2,674,120
Interest Income			1,052,662				1,208,466
Interest on Loans and Bills Discounted			697,429				753,825
Interest and Dividends on Securities			187,902				200,553
Fiduciary Income			35,238				39,268
Fee and Commission Income			540,438				553,438
Trading Income			242,502				193,420
Other Operating Income			281,723				245,799
Other Ordinary Income			243,036				433,726
Ordinary Expenses			1,819,816				2,029,563
Interest Expenses			409,628				609,687
Interest on Deposits			156,732				234,038
Fee and Commission Expenses			117,695				122,402
Trading Expenses			1,852				—
Other Operating Expenses			64,352				72,175
General and Administrative Expenses			1,079,276				1,109,994
Other Ordinary Expenses			147,010				115,304
Ordinary Profits			575,783				644,556
Extraordinary Gains			57,866				18,472
Extraordinary Losses			4,834				5,237
Income before Income Taxes			628,816				657,790
Income Taxes:
Current			139,651				156,341
Deferred			(43,146	)			1,968
Total Income Taxes			96,504				158,309
Profit			532,311				499,481
Profit Attributable to Non-controlling Interests			27,655				23,777
Profit Attributable to Owners of Parent		¥	504,655			¥	475,703

 

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, 2016				For the nine months ended December 31, 2017
Profit		¥	532,311			¥	499,481
Other Comprehensive Income			(145,220	)			302,733
Net Unrealized Gains (Losses) on Other Securities			2,523				347,373
Deferred Gains or Losses on Hedges			(131,523	)			(42,969	)
Revaluation Reserve for Land			(6	)			(2	)
Foreign Currency Translation Adjustments			(23,131	)			4,207
Remeasurements of Defined Benefit Plans			20,055				2,943
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			(13,138	)			(8,819	)
Comprehensive Income			387,090				802,214
(Breakdown)
Comprehensive Income Attributable to Owners of Parent			358,964				780,443
Comprehensive Income Attributable to Non-controlling Interests			28,126				21,770

 

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 2017

(Nine months ended December 31, 2017)

<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 2017

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 28, 2017, 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 2017

1. Income Analysis

Consolidated

 

						(Billions of yen)
						Third Quarter of Fiscal 2017 (Accumulated Period)
										Change				Third Quarter of Fiscal 2016 (Accumulated Period)
Consolidated Gross Profits			1				1,436.1				(122.9	)			1,559.0
Net Interest Income			2				598.7				(44.2	)			643.0
Fiduciary Income			3				39.2				4.0				35.2
Credit Costs for Trust Accounts			4				—				—				—
Net Fee and Commission Income			5				431.0				8.2				422.7
Net Trading Income			6				193.4				(47.2	)			240.6
Net Other Operating Income			7				173.6				(43.7	)			217.3
General and Administrative Expenses			8				(1,109.9	)			(30.7	)			(1,079.2	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)			9				(14.4	)			6.8				(21.2	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			10				183.8				156.7				27.1
Net Gains (Losses) related to Stocks			11				190.1				52.3				137.8
Equity in Income from Investments in Affiliates			12				14.9				(1.6	)			16.5
Other			13				(56.1	)			8.1				(64.3	)
Ordinary Profits			14				644.5				68.7				575.7
Net Extraordinary Gains (Losses)			15				13.2				(39.7	)			53.0
Income before Income Taxes			16				657.7				28.9				628.8
Income Taxes			17				(158.3	)			(61.8	)			(96.5	)
Profit			18				499.4				(32.8	)			532.3
Profit Attributable to Non-controlling Interests			19				(23.7	)			3.8				(27.6	)
Profit Attributable to Owners of Parent			20				475.7				(28.9	)			504.6
Credit-related Costs (including Credit Costs for Trust Accounts)			21				169.4				163.5				5.9

* 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				347.9				(160.9	)			508.8

* 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				126				(22	)			148
Number of affiliates under the equity method			24				19				2				17

 

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 2017 (Accumulated Period)																Third Quarter of Fiscal 2016 (Accumulated Period)
						MHBK				MHTB				Aggregate Figures				Change
Gross Profits			1				901.4				78.2				979.6				(96.9	)			1,076.5
Net Interest Income			2				505.6				20.7				526.4				(30.5	)			556.9
Fiduciary Income			3								38.9				38.9				4.1				34.7
Trust Fees for Jointly Operated Designated Money Trust			4								1.7				1.7				0.1				1.5
Credit Costs for Trust Accounts			5								—				—				—				—
Net Fee and Commission Income			6				260.0				17.2				277.2				(7.7	)			285.0
Net Trading Income			7				34.7				0.7				35.5				(11.6	)			47.1
Net Other Operating Income			8				100.9				0.5				101.4				(51.0	)			152.5
General and Administrative Expenses (excluding Non-Recurring Losses)			9				(658.6	)			(61.6	)			(720.2	)			(14.8	)			(705.3	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) *			10				242.7				16.6				259.3				(111.7	)			371.1
Reversal of (Provision for) General Reserve for Losses on Loans			11				—				—				—				7.2				(7.2	)
Net Business Profits			12				242.7				16.6				259.3				(104.5	)			363.9
Net Gains (Losses) related to Bonds			13				29.1				0.6				29.7				(72.1	)			101.8
Net Non-Recurring Gains (Losses)			14				255.2				15.2				270.5				219.4				51.0
Net Gains (Losses) related to Stocks			15				172.1				16.7				188.9				52.7				136.1
Expenses related to Portfolio Problems			16				(11.9	)			(0.0	)			(11.9	)			4.5				(16.4	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			17				174.6				2.9				177.5				151.8				25.6
Other			18				(79.5	)			(4.4	)			(84.0	)			10.2				(94.3	)
Ordinary Profits			19				498.0				31.8				529.9				114.8				415.0
Net Extraordinary Gains (Losses)			20				15.5				0.0				15.6				18.1				(2.5	)
Income before Income Taxes			21				513.6				31.8				545.5				133.0				412.5
Income Taxes			22				(121.9	)			(7.1	)			(129.0	)			(26.5	)			(102.5	)
Net Income			23				391.6				24.7				416.4				106.4				310.0

*  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				162.7				2.9				165.6				163.6				2.0

* 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				153.1				2.8				155.9				162.8				(6.8	)
Losses on Write-offs of Loans			27				(2.5	)			(0.0	)			(2.5	)			(17.6	)			15.1
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			28				14.7				0.0				14.7				19.6				(4.8	)
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			29				0.0				0.0				0.0				(0.0	)			0.0
Reversal of (Provision for) Reserve for Contingencies			30				(0.0	)			—				(0.0	)			(0.4	)			0.4
Other (including Losses on Sales of Loans)			31				(2.5	)			—				(2.5	)			(0.7	)			(1.8	)
Total			32				162.7				2.9				165.6				163.6				2.0

 

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Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

		(Billions of yen)
		Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			190.1				52.3				137.8
Gains on Sales			215.8				36.2				179.6
Losses on Sales			(8.9	)			17.6				(26.6	)
Impairment (Devaluation)			(1.5	)			3.8				(5.3	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			(15.1	)			(5.3	)			(9.8	)
Non-Consolidated
Aggregate Figures for the 2 Banks
		Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			188.9				52.7				136.1
Gains on Sales			212.7				38.1				174.5
Losses on Sales			(8.2	)			19.1				(27.4	)
Impairment (Devaluation)			(0.3	)			0.7				(1.1	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			(15.1	)			(5.3	)			(9.8	)
Mizuho Bank
		Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			172.1				59.3				112.8
Gains on Sales			195.5				44.5				151.0
Losses on Sales			(8.1	)			19.2				(27.3	)
Impairment (Devaluation)			(0.2	)			0.8				(1.1	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			(14.9	)			(5.3	)			(9.6	)
Mizuho Trust & Banking
		Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			16.7				(6.5	)			23.3
Gains on Sales			17.1				(6.4	)			23.5
Losses on Sales			(0.1	)			(0.0	)			(0.0	)
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			(0.1	)			(0.0	)			(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, 2017																As of March 31, 2017																As of September 30, 2017 (Reference)
						Unrealized Gains/Losses																Unrealized Gains/Losses																Unrealized Gains/Losses
		Book Value								Gains				Losses				Book Value								Gains				Losses				Book Value								Gains				Losses
MHFG (Consolidated)
Other Securities			32,273.6				2,329.4				2,586.3				256.8				28,480.7				1,819.2				2,103.7				284.5				28,931.6				1,988.3				2,235.9				247.5
Japanese Stocks			3,953.8				2,338.4				2,363.9				25.4				3,542.0				1,854.4				1,898.2				43.8				3,640.9				2,011.5				2,044.6				33.1
Japanese Bonds			15,677.8				0.7				32.4				31.6				13,245.1				21.1				55.8				34.6				12,611.9				(9.3	)			30.7				40.0
Japanese Government Bonds			12,565.1				(7.1	)			4.7				11.9				10,264.3				8.7				25.2				16.5				9,658.2				(15.9	)			4.7				20.7
Other			12,642.0				(9.8	)			189.9				199.7				11,693.5				(56.4	)			149.6				206.0				12,678.6				(13.8	)			160.5				174.3
Foreign Bonds			9,411.4				(160.3	)			8.1				168.4				8,955.4				(144.3	)			13.0				157.3				9,610.3				(136.6	)			8.9				145.6

 

*	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 ¥68.7billion, ¥54.6billion, and ¥34.3billion, which were recognized in the statement of income for December 31, 2017, September 30, 2017, and March 31, 2017 respectively, by applying the fair-value hedge method.

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of December 31, 2017																As of March 31, 2017																As of September 30, 2017 (Reference)
						Unrealized Gains/Losses																Unrealized Gains/Losses																Unrealized Gains/Losses
		Book Value								Gains				Losses				Book Value								Gains				Losses				Book Value								Gains				Losses
MHFG (Consolidated)			2,784.9				14.5				26.5				11.9				3,815.6				31.0				37.3				6.2				3,125.7				22.0				28.2				6.1

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities

 

		(Billions of yen)
		As of December 31, 2017																As of March 31, 2017																As of September 30, 2017 (Reference)
						Unrealized Gains/Losses																Unrealized Gains/Losses																Unrealized Gains/Losses
		Book Value								Gains				Losses				Book Value								Gains				Losses				Book Value								Gains				Losses
MHBK
Other Securities			30,139.6				1,968.2				2,209.2				240.9				26,246.1				1,533.7				1,802.9				269.2				26,755.9				1,681.1				1,914.8				233.7
Japanese Stocks			3,602.8				2,098.0				2,120.2				22.1				3,230.9				1,658.1				1,701.5				43.4				3,314.5				1,796.9				1,830.6				33.7
Japanese Bonds			15,003.2				1.2				31.8				30.6				12,477.7				21.7				54.7				33.0				11,895.2				(8.6	)			30.0				38.6
Japanese Government Bonds			12,222.3				(6.6	)			4.5				11.1				9,765.9				9.6				24.6				15.0				9,285.9				(15.1	)			4.4				19.5
Other			11,533.4				(131.0	)			57.1				188.2				10,537.3				(146.1	)			46.5				192.7				11,546.1				(107.1	)			54.1				161.3
Foreign Bonds			8,898.4				(151.5	)			7.1				158.6				8,363.6				(135.9	)			11.5				147.5				9,015.1				(128.4	)			7.2				135.7
MHTB
Other Securities			1,057.7				150.3				164.3				13.9				1,207.8				118.4				133.5				15.1				1,123.5				122.6				137.9				15.2
Japanese Stocks			257.1				153.4				156.1				2.6				231.2				124.2				127.1				2.8				234.8				130.1				132.8				2.6
Japanese Bonds			385.4				(0.2	)			0.5				0.8				567.3				(0.5	)			1.0				1.5				433.7				(0.5	)			0.6				1.1
Japanese Government Bonds			321.2				(0.5	)			0.2				0.8				498.0				(0.9	)			0.6				1.5				372.0				(0.8	)			0.2				1.1
Other			415.1				(2.7	)			7.6				10.3				409.2				(5.3	)			5.3				10.6				454.8				(6.8	)			4.4				11.3
Foreign Bonds			228.6				(8.5	)			—				8.5				263.6				(8.3	)			0.2				8.6				291.0				(8.6	)			—				8.6
Total
Other Securities			31,197.3				2,118.6				2,373.5				254.9				27,453.9				1,652.1				1,936.4				284.3				27,879.4				1,803.8				2,052.8				248.9
Japanese Stocks			3,860.0				2,251.5				2,276.3				24.8				3,462.1				1,782.4				1,828.7				46.2				3,549.3				1,927.0				1,963.5				36.4
Japanese Bonds			15,388.7				0.9				32.4				31.4				13,045.1				21.1				55.7				34.6				12,329.0				(9.2	)			30.6				39.8
Japanese Government Bonds			12,543.6				(7.1	)			4.7				11.9				10,264.0				8.7				25.2				16.5				9,657.9				(15.9	)			4.7				20.7
Other			11,948.5				(133.8	)			64.7				198.5				10,946.6				(151.4	)			51.9				203.4				12,001.0				(114.0	)			58.6				172.6
Foreign Bonds			9,127.0				(160.1	)			7.1				167.2				8,627.3				(144.3	)			11.8				156.1				9,306.2				(137.1	)			7.2				144.4

 

*	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 ¥68.7billion, ¥54.6billion, and ¥34.3billion, which were recognized in the statement of income (aggregate figures for the 2 banks) for December 31, 2017, September 30, 2017, and March 31, 2017 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, 2017																As of March 31, 2017																As of September 30, 2017 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHBK			2,784.9				14.5				26.5				11.9				3,815.6				31.0				37.3				6.2				3,125.7				22.0				28.2				6.1
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			2,784.9				14.5				26.5				11.9				3,815.6				31.0				37.3				6.2				3,125.7				22.0				28.2				6.1
(3) Investments in Subsidiaries and Affiliates
		(Billions of yen)
		As of December 31, 2017																As of March 31, 2017																As of September 30, 2017 (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				194.8				196.1				1.3				108.6				168.1				168.9				0.7				108.6				147.8				149.4				1.5
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			108.6				194.8				196.1				1.3				108.6				168.1				168.9				0.7				108.6				147.8				149.4				1.5

(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, 2017								As of March 31,  2017				As of September  30, 2017 (Reference)
		Unrealized Gains/Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			2,260.7				475.8				1,784.8				1,933.7
Japanese Stocks			2,290.5				451.8				1,838.7				1,977.4
Japanese Bonds			0.7				(20.3	)			21.1				(9.3	)
Japanese Government Bonds			(7.1	)			(15.8	)			8.7				(15.9	)
Other			(30.6	)			44.4				(75.0	)			(34.4	)
Foreign Bonds			(181.1	)			(18.1	)			(162.9	)			(157.2	)
Non-Consolidated   Aggregate Figures for the 2 Banks
		(Billions of yen)
		As of December 31, 2017								As of March 31, 2017				As of September 30, 2017 (Reference)
		Unrealized Gains/Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			2,049.9				432.1				1,617.7				1,749.1
Japanese Stocks			2,203.6				436.9				1,766.6				1,893.0
Japanese Bonds			0.9				(20.1	)			21.1				(9.2	)
Japanese Government Bonds			(7.1	)			(15.8	)			8.7				(15.9	)
Other			(154.6	)			15.4				(170.0	)			(134.6	)
Foreign Bonds			(180.9	)			(17.9	)			(162.9	)			(157.7	)

 

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, 2017												As of March 31, 2017												As of September 30, 2017 (Reference)
		Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses
		Gains				Losses								Gains				Losses								Gains				Losses
MHBK			622.8				686.1				(63.3	)			685.5				681.0				4.4				627.2				649.5				(22.2	)
MHTB			99.1				96.8				2.2				109.5				107.1				2.3				102.8				100.5				2.2
Total			721.9				783.0				(61.0	)			795.0				788.1				6.8				730.1				750.1				(19.9	)

 

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, 2017								As of March 31, 2017				As of September 30, 2017 (Reference)
						Change
Consolidated
Claims against Bankrupt and Substantially Bankrupt Obligors			65.6				(32.7	)			98.4				71.9
Claims with Collection Risk			341.8				(59.4	)			401.2				371.3
Claims for Special Attention			214.7				(207.8	)			422.5				214.0
Total			622.2				(300.0	)			922.2				657.3
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			65.6				(32.7	)			98.4				71.9
Claims with Collection Risk			344.6				(59.4	)			404.1				374.2
Claims for Special Attention			214.7				(207.8	)			422.5				214.0
Total			625.0				(300.0	)			925.1				660.2
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, 2017								As of March 31, 2017				As  of September 30, 2017 (Reference)
						Change
Claims against Bankrupt and Substantially Bankrupt Obligors			54.2				(28.5	)			82.7				57.2
Claims with Collection Risk			331.2				(58.7	)			390.0				361.3
Claims for Special Attention			161.9				(205.2	)			367.2				166.3
Sub-total [1]			547.4				(292.5	)			840.0				584.8
NPL ratio [1]/[2]			0.63	%			(0.36	)%			1.00	%			0.70	%
Normal Claims			85,338.7				2,622.3				82,716.4				82,131.1
Total [2]			85,886.2				2,329.7				83,556.4				82,715.9
MHBK
Claims against Bankrupt and Substantially Bankrupt Obligors			53.3				(28.1	)			81.5				56.2
Claims with Collection Risk			325.7				(58.2	)			384.0				355.7
Claims for Special Attention			160.8				(199.8	)			360.7				165.2
Sub-total [3]			540.0				(286.2	)			826.2				577.2
NPL ratio [3]/[4]			0.65	%			(0.37	)%			1.03	%			0.72	%
Normal Claims			81,910.0				2,545.0				79,364.9				78,780.3
Total [4]			82,450.1				2,258.8				80,191.2				79,357.6
MHTB
Banking Account
Claims against Bankrupt and Substantially Bankrupt Obligors			0.8				(0.3	)			1.2				0.9
Claims with Collection Risk			2.6				(0.5	)			3.1				2.7
Claims for Special Attention			1.0				(5.4	)			6.5				1.0
Sub-total [5]			4.5				(6.3	)			10.9				4.7
NPL ratio [5]/[6]			0.13	%			(0.19	)%			0.32	%			0.14	%
Normal Claims			3,419.9				78.0				3,341.8				3,341.7
Total [6]			3,424.5				71.7				3,352.7				3,346.4
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]			24.64	%			1.55	%			23.09	%			24.16	%
Normal Claims			8.7				(0.8	)			9.5				9.0
Total [8]			11.6				(0.8	)			12.4				11.8

 

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, 2017								As of March 31, 2017				As of September 30, 2017 (Reference)
										Change
MHBK							108,093.3				303.5				107,789.8				108,971.5
MHTB							3,451.1				63.7				3,387.3				3,368.2
Total							111,544.5				367.3				111,177.1				112,339.8
(1)-2 Domestic Deposits
Aggregate Figures for the 2 Banks
						(Billions of yen)
						As of December 31, 2017								As of March 31, 2017				As of September 30, 2017 (Reference)
										Change
MHBK							89,489.2				118.3				89,370.8				89,490.5
Individual deposits							42,042.0				1,666.3				40,375.6				40,989.2
MHTB							3,451.1				77.6				3,373.4				3,364.8
Individual deposits							977.0				(29.2	)			1,006.3				986.0
Total							92,940.3				196.0				92,744.3				92,855.4
Individual deposits							43,019.0				1,637.1				41,381.9				41,975.3
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, 2017								As of March 31, 2017				As of September 30, 2017 (Reference)
										Change
MHBK							72,373.4				1,110.5				71,262.8				70,003.3
MHTB							3,398.0				71.7				3,326.2				3,306.4
Total							75,771.4				1,182.3				74,589.1				73,309.7
Note: Loans to MHFG are included as follows:
As of December 31, 2017: ¥961.5 billion (from MHBK)
As of September 30, 2017: ¥496.3 billion (from MHBK)
As of March 31, 2017: ¥656.1 billion (from MHBK)

(3) Interest Margins (Domestic Operations)

Mizuho Bank

								(%)
								Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					1				0.82				(0.05	)			0.88
Cost of Deposits					2				0.00				(0.00	)			0.00
Loan and Deposit Rate Margin [1]-[2]					3				0.82				(0.05	)			0.87
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				0.87				(0.07	)			0.95
Loan and Deposit Rate Margin [4]-[2]					5				0.87				(0.07	)			0.94
Mizuho Trust & Banking
								(%)
								Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					6				0.64				(0.03	)			0.68
Cost of Deposits					7				0.02				(0.01	)			0.03
Loan and Deposit Rate Margin [6]-[7]					8				0.62				(0.02	)			0.64
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				0.68				(0.05	)			0.74
Loan and Deposit Rate Margin [9]-[7]					10				0.66				(0.04	)			0.70
(Reference)
Aggregate Figures for the 2 Banks
								(%)
								Third Quarter of Fiscal 2017 (Accumulated Period)								Third Quarter of Fiscal 2016 (Accumulated
												Change				Period)
Return on Loans and Bills Discounted					11				0.81				(0.05	)			0.87
Cost of Deposits					12				0.00				(0.00	)			0.01
Loan and Deposit Rate Margin [11]-[12]					13				0.81				(0.05	)			0.86
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				0.86				(0.07	)			0.93
Loan and Deposit Rate Margin [14]-[12]					15				0.85				(0.06	)			0.92

 

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, 2017 (A)				As of March 31, 2017 (B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	38,344,925			¥	38,943,082			¥	(598,157	)
Call Loans			283,450				433,198				(149,748	)
Receivables under Resale Agreements			442,361				596,194				(153,833	)
Other Debt Purchased			432,283				728,080				(295,796	)
Trading Assets			3,525,278				4,234,901				(709,622	)
Money Held in Trust			3,093				3,137				(44	)
Securities			34,070,409				31,264,703				2,805,705
Loans and Bills Discounted			72,373,429				71,262,838				1,110,590
Foreign Exchange Assets			2,251,681				1,769,212				482,468
Derivatives other than for Trading			2,431,604				3,201,963				(770,358	)
Other Assets			2,510,466				2,268,678				241,788
Tangible Fixed Assets			805,568				828,363				(22,794	)
Intangible Fixed Assets			800,409				754,547				45,861
Prepaid Pension Cost			479,586				481,968				(2,382	)
Customers’ Liabilities for Acceptances and Guarantees			6,321,315				5,757,150				564,165
Reserves for Possible Losses on Loans			(255,565	)			(437,689	)			182,123
Total Assets		¥	164,820,298			¥	162,090,330			¥	2,729,968
Liabilities
Deposits		¥	108,093,392			¥	107,789,803			¥	303,589
Negotiable Certificates of Deposit			11,992,608				10,091,832				1,900,775
Call Money			949,388				775,450				173,938
Payables under Repurchase Agreements			8,411,409				7,604,970				806,439
Guarantee Deposits Received under Securities Lending Transactions			459,431				335,575				123,856
Commercial Paper			767,151				765,146				2,004
Trading Liabilities			2,723,676				3,362,426				(638,750	)
Borrowed Money			8,938,548				9,136,351				(197,802	)
Foreign Exchange Liabilities			775,835				729,532				46,302
Bonds and Notes			2,956,237				3,726,331				(770,094	)
Derivatives other than for Trading			2,406,006				2,836,858				(430,851	)
Other Liabilities			1,963,142				1,616,928				346,214
Reserve for Bonus Payments			6,903				20,902				(13,999	)
Reserve for Variable Compensation			971				1,269				(297	)
Reserve for Possible Losses on Sales of Loans			209				298				(89	)
Reserve for Contingencies			67				52				15
Reserve for Reimbursement of Deposits			16,378				17,575				(1,196	)
Reserve for Reimbursement of Debentures			26,198				32,720				(6,522	)
Deferred Tax Liabilities			283,411				186,153				97,258
Deferred Tax Liabilities for Revaluation Reserve for Land			66,237				66,585				(348	)
Acceptances and Guarantees			6,321,315				5,757,150				564,165
Total Liabilities			157,158,523				154,853,914				2,304,608
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			2,486,611				2,298,416				188,194
Appropriated Reserve			266,664				225,810				40,853
Other Retained Earnings			2,219,947				2,072,606				147,340
Retained Earnings Brought Forward			2,219,947				2,072,606				147,340
Total Shareholders’ Equity			6,177,005				5,988,810				188,194
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			1,384,485				1,099,468				285,017
Net Deferred Hedge Gains (Losses), net of Taxes			(44,533	)			2,527				(47,060	)
Revaluation Reserve for Land, net of Taxes			144,817				145,609				(791	)
Total Valuation and Translation Adjustments			1,484,770				1,247,605				237,165
Total Net Assets			7,661,775				7,236,415				425,359
Total Liabilities and Net Assets		¥	164,820,298			¥	162,090,330			¥	2,729,968

 

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, 2017 (A)				For the nine months ended December 31, 2016 (B)				Change (A) -  (B)
Ordinary Income		¥	1,883,230			¥	1,640,696			¥	242,533
Interest Income			992,897				882,760				110,136
Interest on Loans and Bills Discounted			667,191				617,640				49,551
Interest and Dividends on Securities			187,894				172,522				15,371
Fee and Commission Income			337,633				344,627				(6,994	)
Trading Income			34,722				47,474				(12,752	)
Other Operating Income			133,619				176,140				(42,520	)
Other Ordinary Income			384,357				189,694				194,663
Ordinary Expenses			1,385,160				1,266,593				118,567
Interest Expenses			487,215				347,977				139,238
Interest on Deposits			209,472				137,412				72,059
Fee and Commission Expenses			77,572				76,360				1,212
Trading Expenses			—				1,010				(1,010	)
Other Operating Expenses			32,668				32,749				(80	)
General and Administrative Expenses			675,097				671,128				3,969
Other Ordinary Expenses			112,604				137,366				(24,761	)
Ordinary Profits			498,070				374,103				123,966
Extraordinary Gains			20,026				1,632				18,393
Extraordinary Losses			4,465				3,968				497
Income before Income Taxes			513,630				371,768				141,862
Income Taxes:
Current			119,437				102,664				16,773
Deferred			2,518				(10,475	)			12,993
Net Income		¥	391,674			¥	279,579			¥	112,095

 

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, 2017 (A)				As of March 31, 2017(B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	1,723,175			¥	1,699,040			¥	24,135
Call Loans			2,825				6,956				(4,131	)
Guarantee Deposits Paid under Securities Borrowing Transactions			216,093				113,046				103,046
Other Debt Purchased			7,153				9,196				(2,043	)
Trading Assets			79,014				90,487				(11,473	)
Money Held in Trust			3,463				3,286				176
Securities			1,104,212				1,253,105				(148,892	)
Loans and Bills Discounted			3,398,056				3,326,296				71,759
Foreign Exchange Assets			2,401				2,596				(194	)
Other Assets			170,388				83,804				86,584
Tangible Fixed Assets			23,296				23,617				(321	)
Intangible Fixed Assets			35,176				33,477				1,699
Prepaid Pension Cost			49,368				49,230				137
Customers’ Liabilities for Acceptances and Guarantees			23,602				23,887				(284	)
Reserves for Possible Losses on Loans			(1,848	)			(4,779	)			2,930
Total Assets		¥	6,836,378			¥	6,713,251			¥	123,127
Liabilities
Deposits		¥	3,451,149			¥	3,387,390			¥	63,758
Negotiable Certificates of Deposit			341,240				327,620				13,620
Call Money			375,706				242,493				133,213
Payables under Repurchase Agreements			67,806				67,320				486
Guarantee Deposits Received under Securities Lending Transactions			227,151				310,303				(83,152	)
Trading Liabilities			72,035				83,683				(11,647	)
Borrowed Money			419,852				372,578				47,273
Bonds and Notes			10,000				10,000				—
Due to Trust Accounts			1,192,309				1,272,149				(79,840	)
Other Liabilities			41,027				36,173				4,854
Reserve for Bonus Payments			—				1,976				(1,976	)
Reserve for Variable Compensation			382				413				(30	)
Reserve for Reimbursement of Deposits			1,482				1,496				(14	)
Deferred Tax Liabilities			20,923				9,692				11,231
Acceptances and Guarantees			23,602				23,887				(284	)
Total Liabilities			6,244,670				6,147,179				97,490
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			207,057				205,013				2,044
Appropriated Reserve			31,970				27,427				4,543
Other Retained Earnings			175,086				177,585				(2,498	)
Retained Earnings Brought Forward			175,086				177,585				(2,498	)
Total Shareholders’ Equity			469,932				467,888				2,044
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			120,207				96,529				23,677
Net Deferred Hedge Gains (Losses), net of Taxes			1,568				1,654				(85	)
Total Valuation and Translation Adjustments			121,776				98,183				23,592
Total Net Assets			591,708				566,071				25,636
Total Liabilities and Net Assets		¥	6,836,378			¥	6,713,251			¥	123,127

 

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, 2017 (A)				For the nine months ended December 31, 2016 (B)				Change (A) - (B)
Ordinary Income		¥	137,068			¥	140,900			¥	(3,831	)
Fiduciary Income			38,928				34,798				4,129
Interest Income			30,760				29,643				1,116
Interest on Loans and Bills Discounted			19,121				19,488				(367	)
Interest and Dividends on Securities			10,132				8,839				1,292
Fee and Commission Income			40,589				36,509				4,079
Trading Income			796				717				78
Other Operating Income			4,077				14,117				(10,039	)
Other Ordinary Income			21,916				25,112				(3,196	)
Ordinary Expenses			105,229				99,983				5,245
Interest Expenses			9,983				7,462				2,520
Interest on Deposits			652				969				(317	)
Fee and Commission Expenses			23,386				19,724				3,662
Trading Expenses			0				0				(0	)
Other Operating Expenses			3,554				4,959				(1,404	)
General and Administrative Expenses			65,317				65,222				95
Other Ordinary Expenses			2,986				2,615				371
Ordinary Profits			31,839				40,916				(9,077	)
Extraordinary Gains			182				—				182
Extraordinary Losses			126				164				(38	)
Income before Income Taxes			31,895				40,751				(8,856	)
Income Taxes:
Current			5,047				8,965				(3,917	)
Deferred			2,087				1,346				741
Net Income		¥	24,759			¥	30,439			¥	(5,680	)

 

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, 2017 (A)				As of March 31, 2017 (B)				Change (A) - (B)
Assets
Current Assets
Cash and Bank Deposits		¥	398,949			¥	249,691			¥	149,257
Cash Segregated as Deposits for Customers and Others			289,448				230,214				59,233
Trading Assets			6,066,572				5,019,291				1,047,280
Receivables — Unsettled Trades			—				169,960				(169,960	)
Operating Investment Securities			24,292				21,762				2,529
Operating Loans Receivable			—				2,790				(2,790	)
Receivables Related to Margin Transactions			69,478				96,255				(26,776	)
Collateralized Short-Term Financing Agreements-Receivable			3,421,041				3,821,571				(400,529	)
Advances Paid			338				191				147
Securities: Fail to Deliver			13,167				28,695				(15,527	)
Short-Term Loans Receivable			38,674				22,459				16,215
Deferred Tax Assets			13,909				15,302				(1,392	)
Other Current Assets			482,581				537,638				(55,056	)
Less: Allowance for Doubtful Accounts			(7	)			(6	)			(1	)
Noncurrent Assets
Property and Equipment			14,841				15,087				(246	)
Intangible Assets			54,520				50,195				4,325
Investments and Other Assets			297,093				297,330				(237	)
Total Assets		¥	11,184,903			¥	10,578,433			¥	606,470
Liabilities
Current Liabilities
Trading Liabilities		¥	3,308,611			¥	3,771,283			¥	(462,672	)
Payables — Unsettled Trades			400				—				400
Payables Related to Margin Transactions			39,835				55,287				(15,452	)
Collateralized Short-Term Financing Agreements-Payable			4,558,078				3,727,318				830,759
Deposits Received			284,344				234,622				49,722
Guarantee Deposits Received			212,126				184,821				27,305
Securities: Fail to Receive			3,205				12,844				(9,639	)
Short-Term Borrowings			755,644				716,603				39,041
Commercial Paper			236,300				111,300				125,000
Bonds and Notes Due within One Year			56,389				55,323				1,066
Lease Obligations			380				375				4
Income Taxes Payable			2,198				—				2,198
Accrued Employees’ Bonuses			4,220				13,432				(9,212	)
Provision for Variable Compensation			715				855				(139	)
Provision for Bonus Point Redemption			540				596				(55	)
Other Current Liabilities			26,331				28,513				(2,182	)
Noncurrent Liabilities
Bonds and Notes			540,251				554,903				(14,651	)
Long-Term Borrowings			283,500				233,500				50,000
Lease Obligations			234				494				(259	)
Provision for Retirement Benefits			19,485				19,536				(51	)
Other Noncurrent Liabilities			1,606				1,647				(40	)
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities			2,285				2,291				(5	)
Total Liabilities			10,336,687				9,725,551				611,135
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			326,417				332,177				(5,760	)
Other Retained Earnings			326,417				332,177				(5,760	)
Retained Earnings Brought Forward			326,417				332,177				(5,760	)
Total Shareholders’ Equity			833,233				838,993				(5,760	)
Net Unrealized Gains on (Operating) Investment Securities, net of Tax			30,475				22,719				7,756
Net Deferred Gains or Losses on Hedges, net of Tax			(15,492	)			(8,831	)			(6,661	)
Total Valuation and Translation Adjustments			14,983				13,887				1,095
Total Net Assets			848,216				852,881				(4,664	)
Total Liabilities and Net Assets		¥	11,184,903			¥	10,578,433			¥	606,470

 

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, 2017 (A)				For the nine months ended December 31, 2016 (B)				Change (A) - (B)
Operating Revenues		¥	231,719			¥	254,501			¥	(22,781	)
Commissions			103,286				108,818				(5,531	)
Net Gain on Trading			77,392				116,815				(39,422	)
Net Gain on Operating Investment Securities			2,373				512				1,860
Interest and Dividend Income			48,666				28,355				20,311
Interest Expenses			37,620				26,576				11,044
Net Operating Revenues			194,099				227,925				(33,826	)
Selling, General and Administrative Expenses			173,723				177,036				(3,312	)
Transaction-Related Expenses			35,934				38,757				(2,822	)
Personnel Expenses			62,306				66,246				(3,939	)
Real Estate Expenses			19,452				19,581				(129	)
Administrative Expenses			37,454				35,175				2,278
Depreciation and Amortization			12,826				12,653				172
Taxes and Dues			3,321				2,105				1,216
Provision of Allowance for Doubtful Accounts			(23	)			(7	)			(15	)
Other			2,450				2,523				(72	)
Operating Income			20,375				50,888				(30,513	)
Non-Operating Income			6,301				7,186				(885	)
Non-Operating Expenses			971				913				57
Ordinary Income			25,705				57,162				(31,456	)
Extraordinary Gain			1,836				118,478				(116,641	)
Extraordinary Loss			2,142				1,686				455
Income before Income Taxes			25,400				173,953				(148,553	)
Income Taxes:
Current			1,764				121				1,643
Deferred			3,198				(15,737	)			18,936
Net Income		¥	20,436			¥	189,569			¥	(169,133	)

 

2-15