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 2017

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NO. 333-213187) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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 2016 (Nine months ended December 31, 2016) <Under Japanese GAAP>

 

Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		January 31, 2017

Stock Code Number (Japan):		8411
Stock Exchange (Japan):		Tokyo Stock Exchange (First Section)
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, 2017		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 2016 (for the nine months ended December 31, 2016)

(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 F2016			2,395,600				0.4				575,783				(25.2	)			504,655				(2.8	)
3Q F2015			2,385,807				3.3				769,909				(4.7	)			519,491				(0.7	)

 

Note:		Comprehensive Income: 3Q F2016: ¥387,090 million, 11.5%; 3Q F2015: ¥347,075 million, (72.6)%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock
		¥				¥
3Q F2016			19.97				19.88
3Q F2015			20.91				20.46

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
3Q F2016			204,383,032				9,114,333				4.0
Fiscal 2015			193,458,580				9,353,244				4.2

 

Reference:		Own Capital: As of December 31, 2016: ¥8,361,706 million; As of March 31, 2016: ¥8,167,813 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 2015			—				3.75				—				3.75				7.50
Fiscal 2016			—				3.75				—
Fiscal 2016 (estimate)															3.75				7.50

 

Notes:			1.					Revision of the latest announced estimates for cash dividends for shareholders of common stock : No
			2.					Please refer to the following “Cash Dividends for Shareholders of Classified Stock” for cash dividends for shareholders of classified stock (unlisted), the rights of which are different from those of common stock.

3. Consolidated Earnings Estimates for Fiscal 2016 (for the fiscal year ending March 31, 2017)

 

(%: Changes from the corresponding period of the previous fiscal year)
		Profit Attributable to Owners of Parent								Net Income per Share of Common Stock
		¥ million				%				¥
Fiscal 2016			600,000				(10.5	)			23.72

 

Notes:			1.					Revision of the latest announced earnings estimates for fiscal 2016: No
			2.					The number of shares of common stock used in the above calculation is based on the following:
								•   The average of “the average number of shares during 1Q, 2Q and 3Q” and “the number of outstanding shares as of December 31, 2016 (which is expected to be the average number of shares during 4Q of fiscal 2016)” is used.

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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.: Yes

② Changes in accounting policies other than ① above: No

③ Changes in accounting estimates: No

④ Restatements: No

 

(Note)

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

(4) Issued Shares of Common Stock

 

(*Presentation of Implementation Status of Quarterly Review Procedure)

The review procedure of quarterly financial statements based on the Financial Instruments and Exchange Law has not been completed at the time of the disclosure of these Consolidated Financial Statements.

 

 

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 January 13, 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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Cash Dividends for Shareholders of Classified Stock

Breakdown of cash dividends per share related to classified stock, the rights of which are different from those of common stock, is as follows:

 

		Annual Cash Dividends per Share
		First Quarter-end				Second Quarter-end				Third Quarter-end				Fiscal Year-end				Total
		¥				¥				¥				¥				¥
Eleventh Series Class XI Preferred Stock
Fiscal 2015			—				10.00				—				10.00				20.00
Fiscal 2016			—

 

Note:

Mizuho Financial Group Inc. (“MHFG”) acquired all of the Eleventh Series Class XI Preferred Stock as of July 1, 2016 that had not been requested for acquisition by June 30, 2016 and cancelled all of the Eleventh Series Class XI Preferred Stock held by MHFG on July 13, 2016. Accordingly, cash dividend payments related to the Eleventh Series Class XI Preferred Stock will not be made in fiscal 2016.

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Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1.		Matters Related to Summary Information (Notes)			p.1-2
		(1) Changes in Accounting Policies and Accounting Estimates / Restatements			p.1-2
2.		Quarterly Consolidated Financial Statements			p.1-3
		(1) Consolidated Balance Sheets			p.1-3
		(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			p.1-5
		(3) Note for Assumption of Going Concern			p.1-7
		(4) Note for Significant Changes in the Amount of Shareholders’ Equity			p.1-7
		øSELECTED FINANCIAL INFORMATION For the Third Quarter of Fiscal 2016

[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. Matters Related to Summary Information (Notes)

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

(Changes in Accounting Policies)

(Application of “Revised Implementation Guidance on Recoverability of Deferred Tax Assets”)

MHFG has applied “Revised Implementation Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26, March 28, 2016) (hereinafter, the “Recoverability Implementation Guidance”) from the first quarter ended June 30, 2016 and partially revised the accounting method of recoverability of deferred tax assets.

The Recoverability Implementation Guidance has been applied in accordance with the transitional treatment set forth in Article 49(4) of the Recoverability Implementation Guidance. The differences between (i) the amounts of Deferred Tax Assets and Deferred Tax Liabilities when provisions applicable from ① to ③ of Article 49(3) of the Recoverability Implementation Guidance were applied as of April 1, 2016, and (ii) the amounts of Deferred Tax Assets and Deferred Tax Liabilities at the end of the fiscal year ended March 31, 2016, were added to Retained Earnings as of April 1, 2016.

As a result, Deferred Tax Assets (before offset) and Retained Earnings each increased by ¥ 1,426 million as of April 1, 2016.

 

1-2

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Mizuho Financial Group, Inc.

 

2. Quarterly Consolidated Financial Statements

(1) Consolidated Balance Sheets

 

		Millions of yen
		As of March 31, 2016				As of December 31, 2016
Assets
Cash and Due from Banks		¥	36,315,471			¥	42,239,153
Call Loans and Bills Purchased			893,545				3,350,216
Receivables under Resale Agreements			7,805,798				9,310,323
Guarantee Deposits Paid under Securities Borrowing Transactions			3,407,390				4,783,893
Other Debt Purchased			2,979,797				2,737,380
Trading Assets			13,004,522				12,316,374
Money Held in Trust			175,638				252,372
Securities			39,505,971				33,668,600
Loans and Bills Discounted			73,708,884				77,590,637
Foreign Exchange Assets			1,447,743				1,955,482
Derivatives other than for Trading Assets			3,157,752				3,474,571
Other Assets			4,144,131				4,978,265
Tangible Fixed Assets			1,085,791				1,075,255
Intangible Fixed Assets			804,567				1,013,233
Net Defined Benefit Asset			646,428				686,895
Deferred Tax Assets			36,517				56,178
Customers’ Liabilities for Acceptances and Guarantees			4,798,158				5,350,103
Reserves for Possible Losses on Loans			(459,531	)			(455,906	)
Total Assets		¥	193,458,580			¥	204,383,032

 

1-3

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Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2016				As of December 31, 2016
Liabilities
Deposits		¥	105,629,071			¥	117,403,443
Negotiable Certificates of Deposit			11,827,533				10,809,023
Call Money and Bills Sold			2,521,008				1,579,470
Payables under Repurchase Agreements			16,833,346				19,366,683
Guarantee Deposits Received under Securities Lending Transactions			2,608,971				1,703,370
Commercial Paper			1,010,139				817,561
Trading Liabilities			10,276,133				9,620,533
Borrowed Money			7,503,543				7,289,235
Foreign Exchange Liabilities			492,473				450,124
Short-term Bonds			648,381				249,471
Bonds and Notes			6,120,928				7,431,022
Due to Trust Accounts			5,067,490				4,532,960
Derivatives other than for Trading Liabilities			2,571,597				3,232,460
Other Liabilities			5,532,596				4,888,867
Reserve for Bonus Payments			62,171				35,992
Reserve for Variable Compensation			2,836				2,264
Net Defined Benefit Liability			51,514				54,255
Reserve for Director and Corporate Auditor Retirement Benefits			1,685				1,422
Reserve for Possible Losses on Sales of Loans			267				69
Reserve for Contingencies			5,271				4,885
Reserve for Reimbursement of Deposits			16,154				14,209
Reserve for Reimbursement of Debentures			39,245				33,079
Reserves under Special Laws			2,024				2,301
Deferred Tax Liabilities			414,799				328,728
Deferred Tax Liabilities for Revaluation Reserve for Land			67,991				67,155
Acceptances and Guarantees			4,798,158				5,350,103
Total Liabilities		¥	184,105,335			¥	195,268,698
Net Assets
Common Stock and Preferred Stock		¥	2,255,790			¥	2,256,275
Capital Surplus			1,110,164				1,134,449
Retained Earnings			3,197,616				3,515,270
Treasury Stock			(3,609	)			(4,875	)
Total Shareholders’ Equity			6,559,962				6,901,119
Net Unrealized Gains (Losses) on Other Securities			1,296,039				1,296,618
Deferred Gains or Losses on Hedges			165,264				33,796
Revaluation Reserve for Land			148,483				146,904
Foreign Currency Translation Adjustments			(53,689	)			(88,398	)
Remeasurements of Defined Benefit Plans			51,752				71,666
Total Accumulated Other Comprehensive Income			1,607,851				1,460,587
Stock Acquisition Rights			2,762				1,754
Non-Controlling Interests			1,182,668				750,872
Total Net Assets			9,353,244				9,114,333
Total Liabilities and Net Assets		¥	193,458,580			¥	204,383,032

 

1-4

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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, 2015				For the nine months ended December 31, 2016
Ordinary Income		¥	2,385,807			¥	2,395,600
Interest Income			1,069,570				1,052,662
Interest on Loans and Bills Discounted			697,965				697,429
Interest and Dividends on Securities			224,603				187,902
Fiduciary Income			38,112				35,238
Fee and Commission Income			546,463				540,438
Trading Income			216,540				242,502
Other Operating Income			238,893				281,723
Other Ordinary Income			276,227				243,036
Ordinary Expenses			1,615,897				1,819,816
Interest Expenses			308,247				409,628
Interest on Deposits			121,425				156,732
Fee and Commission Expenses			115,441				117,695
Trading Expenses			2,836				1,852
Other Operating Expenses			57,151				64,352
General and Administrative Expenses			1,008,415				1,079,276
Other Ordinary Expenses			123,804				147,010
Ordinary Profits			769,909				575,783
Extraordinary Gains			20,355				57,866
Extraordinary Losses			3,731				4,834
Income before Income Taxes			786,533				628,816
Income Taxes:
Current			144,349				139,651
Deferred			78,970				(43,146	)
Total Income Taxes			223,320				96,504
Profit			563,213				532,311
Profit Attributable to Non-controlling Interests			43,722				27,655
Profit Attributable to Owners of Parent		¥	519,491			¥	504,655

 

1-5

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Mizuho Financial Group, Inc.

 

[Consolidated Statements of Comprehensive Income]

 

		Millions of yen
		For the nine months ended December 31, 2015				For the nine months ended December 31, 2016
Profit		¥	563,213			¥	532,311
Other Comprehensive Income			(216,137	)			(145,220	)
Net Unrealized Gains (Losses) on Other Securities			(222,776	)			2,523
Deferred Gains or Losses on Hedges			22,551				(131,523	)
Revaluation Reserve for Land			6				(6	)
Foreign Currency Translation Adjustments			(10,609	)			(23,131	)
Remeasurements of Defined Benefit Plans			(1,675	)			20,055
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			(3,634	)			(13,138	)
Comprehensive Income			347,075				387,090
(Breakdown)
Comprehensive Income Attributable to Owners of Parent			301,494				358,964
Comprehensive Income Attributable to Non-controlling Interests			45,581				28,126

 

1-6

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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.

 

1-7

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SELECTED FINANCIAL INFORMATION

For the Third Quarter of Fiscal 2016

(Nine months ended December 31, 2016)

<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 2016

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 else where; 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 January 13, 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 2016

1. Income Analysis

Consolidated

 

						(Billions of yen)
						Third Quarter of Fiscal 2016 (Accumulated Period)
										Change				Third Quarter of Fiscal 2015 (Accumulated Period)
Consolidated Gross Profits			1				1,559.0				(66.8	)			1,625.9
Net Interest Income			2				643.0				(118.2	)			761.3
Fiduciary Income			3				35.2				(2.8	)			38.1
Credit Costs for Trust Accounts			4				—				—				—
Net Fee and Commission Income			5				422.7				(8.2	)			431.0
Net Trading Income			6				240.6				26.9				213.7
Net Other Operating Income			7				217.3				35.6				181.7
General and Administrative Expenses			8				(1,079.2	)			(70.8	)			(1,008.4	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)			9				(21.2	)			3.6				(24.8	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			10				27.1				11.7				15.4
Net Gains (Losses) related to Stocks			11				137.8				(46.3	)			184.1
Equity in Income from Investments in Affiliates			12				16.5				(4.4	)			21.0
Other			13				(64.3	)			(20.9	)			(43.4	)
Ordinary Profits			14				575.7				(194.1	)			769.9
Net Extraordinary Gains (Losses)			15				53.0				36.4				16.6
Income before Income Taxes			16				628.8				(157.7	)			786.5
Income Taxes			17				(96.5	)			126.8				(223.3	)
Profit			18				532.3				(30.9	)			563.2
Profit Attributable to Non-controlling Interests			19				(27.6	)			16.0				(43.7	)
Profit Attributable to Owners of Parent			20				504.6				(14.8	)			519.4
Credit-related Costs (including Credit Costs for Trust Accounts)			21				5.9				15.3				(9.3	)
* 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				508.8				(92.2	)			601.0
* 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				148				1				147
Number of affiliates under the equity method			24				17				(7	)			24

 

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 2016 (Accumulated Period)																Third Quarter of Fiscal 2015 (Accumulated Period)
						MHBK				MHTB				Aggregate Figures				Change
Gross Profits			1				992.9				83.6				1,076.5				(89.0	)			1,165.6
Net Interest Income			2				534.7				22.1				556.9				(98.3	)			655.2
Fiduciary Income			3								34.7				34.7				(3.4	)			38.2
Trust Fees for Jointly Operated Designated Money Trust			4								1.5				1.5				0.1				1.4
Credit Costs for Trust Accounts			5								—				—				—				—
Net Fee and Commission Income			6				268.2				16.7				285.0				(3.0	)			288.1
Net Trading Income			7				46.4				0.7				47.1				(9.3	)			56.5
Net Other Operating Income			8				143.3				9.1				152.5				25.1				127.3
General and Administrative Expenses (excluding Non-Recurring Losses)			9				(644.7	)			(60.6	)			(705.3	)			(21.1	)			(684.1	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) *			10				348.1				23.0				371.1				(110.2	)			481.4
Reversal of (Provision for) General Reserve for Losses on Loans			11				(7.2	)			—				(7.2	)			(0.8	)			(6.3	)
Net Business Profits			12				340.9				23.0				363.9				(111.1	)			475.1
Net Gains (Losses) related to Bonds			13				92.5				9.3				101.8				5.5				96.3
Net Non-Recurring Gains (Losses)			14				33.1				17.9				51.0				(62.3	)			113.3
Net Gains (Losses) related to Stocks			15				112.8				23.3				136.1				(26.5	)			162.6
Expenses related to Portfolio Problems			16				(16.4	)			(0.0	)			(16.4	)			1.6				(18.0	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others			17				25.1				0.4				25.6				11.9				13.7
Other			18				(88.4	)			(5.8	)			(94.3	)			(49.3	)			(44.9	)
Ordinary Profits			19				374.1				40.9				415.0				(173.4	)			588.4
Net Extraordinary Gains (Losses)			20				(2.3	)			(0.1	)			(2.5	)			(6.9	)			4.4
Income before Income Taxes			21				371.7				40.7				412.5				(180.4	)			592.9
Income Taxes			22				(92.1	)			(10.3	)			(102.5	)			79.2				(181.7	)
Net Income			23				279.5				30.4				310.0				(101.2	)			411.2
*  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				1.5				0.4				2.0				12.7				(10.6	)
* 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				(7.2	)			0.3				(6.8	)			(1.1	)			(5.7	)
Losses on Write-offs of Loans			27				15.1				(0.0	)			15.1				24.0				(8.9	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			28				(5.0	)			0.1				(4.8	)			(8.3	)			3.4
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			29				0.0				0.0				0.0				(0.5	)			0.5
Reversal of (Provision for) Reserve for Contingencies			30				0.4				—				0.4				(0.4	)			0.8
Other (including Losses on Sales of Loans)			31				(1.8	)			—				(1.8	)			(0.9	)			(0.9	)
Total			32				1.5				0.4				2.0				12.7				(10.6	)

 

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Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

		(Billions of yen)
		Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			137.8				(46.3	)			184.1
Gains on Sales			179.6				(36.4	)			216.0
Losses on Sales			(26.6	)			(10.2	)			(16.3	)
Impairment (Devaluation)			(5.3	)			3.5				(8.8	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(9.8	)			(3.1	)			(6.6	)
Non-Consolidated
Aggregate Figures for the 2 Banks
		Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			136.1				(26.5	)			162.6
Gains on Sales			174.5				(18.3	)			192.9
Losses on Sales			(27.4	)			(12.0	)			(15.3	)
Impairment (Devaluation)			(1.1	)			7.0				(8.2	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(9.8	)			(3.1	)			(6.6	)
Mizuho Bank
		Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			112.8				(48.3	)			161.2
Gains on Sales			151.0				(37.0	)			188.0
Losses on Sales			(27.3	)			(13.5	)			(13.7	)
Impairment (Devaluation)			(1.1	)			5.4				(6.6	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(9.6	)			(3.2	)			(6.3	)
Mizuho Trust & Banking
		Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
						Change
Net Gains (Losses) related to Stocks			23.3				21.8				1.4
Gains on Sales			23.5				18.7				4.8
Losses on Sales			(0.0	)			1.4				(1.5	)
Impairment (Devaluation)			(0.0	)			1.6				(1.6	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(0.1	)			0.0				(0.2	)

 

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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, 2016																As of March 31, 2016																As of September 30, 2016 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHFG (Consolidated)
Other Securities			29,550.4				1,848.2				2,155.5				307.3				34,675.6				1,881.8				2,059.6				177.7				28,403.7				1,646.9				1,836.7				189.7
Japanese Stocks			3,579.5				1,841.1				1,881.9				40.7				3,457.6				1,610.4				1,681.9				71.5				3,227.0				1,428.0				1,512.4				84.3
Japanese Bonds			14,036.3				36.8				69.8				32.9				18,874.4				136.5				148.0				11.5				13,495.3				88.3				104.1				15.8
Japanese Government Bonds			10,901.2				17.1				34.1				16.9				15,765.8				95.8				96.2				0.4				10,374.8				53.9				56.9				2.9
Other			11,934.5				(29.7	)			203.8				233.5				12,343.5				134.9				229.6				94.7				11,681.2				130.5				220.1				89.5
Foreign Bonds			9,058.3				(160.8	)			17.1				177.9				9,719.5				41.0				67.9				26.8				8,952.7				47.3				64.9				17.6
*    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 ¥20.1 billion, ¥15.0 billion, and ¥26.7 billion, which were recognized in the statement of income for December 31, 2016, September 30, 2016, and March 31, 2016 respectively, by applying the fair-value hedge method.   (2) Bonds Held to Maturity
		(Billions of yen)
		As of December 31, 2016																As of March 31, 2016																As of September 30, 2016 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHFG (Consolidated)			4,153.1				34.0				40.6				6.6				4,817.5				55.6				61.0				5.3				4,258.6				59.2				60.2				1.0
Non-Consolidated   Aggregate Figures for the 2 Banks   (1) Other Securities
		(Billions of yen)
		As of December 31, 2016																As of March 31, 2016																As of September 30, 2016 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHBK
Other Securities			27,241.2				1,515.7				1,812.1				296.3				32,065.2				1,561.4				1,736.5				175.0				26,141.5				1,350.4				1,536.3				185.8
Japanese Stocks			3,270.4				1,649.7				1,693.2				43.5				3,148.2				1,426.4				1,500.9				74.4				2,939.3				1,262.4				1,349.4				87.0
Japanese Bonds			13,156.7				37.6				68.7				31.1				17,916.9				134.1				145.3				11.1				12,746.9				87.0				102.3				15.2
Japanese Government Bonds			10,295.2				18.2				33.5				15.2				15,150.8				93.5				94.0				0.4				9,894.0				53.0				55.7				2.6
Other			10,814.0				(171.6	)			50.0				221.6				10,999.9				0.8				90.3				89.4				10,455.2				0.9				84.5				83.5
Foreign Bonds			8,568.1				(154.2	)			14.8				169.1				9,000.9				32.6				59.2				26.5				8,330.8				40.0				57.3				17.2
MHTB
Other Securities			1,243.1				114.6				129.7				15.0				1,443.5				121.6				129.5				7.8				1,219.0				104.0				113.3				9.2
Japanese Stocks			229.4				119.9				122.3				2.3				231.4				112.5				115.3				2.7				212.7				96.9				100.9				4.0
Japanese Bonds			661.9				(0.9	)			0.8				1.8				655.0				2.2				2.5				0.2				535.6				1.0				1.5				0.5
Japanese Government Bonds			605.8				(1.1	)			0.5				1.6				573.9				2.2				2.2				0.0				480.5				0.8				1.2				0.3
Other			351.7				(4.3	)			6.4				10.8				557.1				6.9				11.6				4.7				470.7				6.1				10.8				4.7
Foreign Bonds			203.8				(8.4	)			0.3				8.7				440.2				5.6				5.8				0.1				330.8				5.3				5.6				0.2
Total
Other Securities			28,484.3				1,630.4				1,941.8				311.3				33,508.8				1,683.1				1,866.0				182.9				27,360.5				1,454.5				1,649.6				195.0
Japanese Stocks			3,499.8				1,769.7				1,815.6				45.8				3,379.6				1,538.9				1,616.2				77.2				3,152.0				1,359.3				1,450.3				91.0
Japanese Bonds			13,818.6				36.7				69.6				32.9				18,572.0				136.3				147.8				11.4				13,282.5				88.1				103.9				15.8
Japanese Government Bonds			10,901.0				17.1				34.0				16.9				15,724.8				95.8				96.2				0.4				10,374.5				53.9				56.9				2.9
Other			11,165.8				(175.9	)			56.5				232.5				11,557.1				7.8				101.9				94.1				10,925.9				7.1				95.3				88.2
Foreign Bonds			8,772.0				(162.6	)			15.1				177.8				9,441.1				38.2				65.0				26.7				8,661.7				45.4				62.9				17.5

 

*	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 ¥20.1 billion, ¥15.0 billion, and ¥26.7 billion, which were recognized in the statement of income for December 31, 2016, September 30, 2016, and March 31, 2016 respectively, by applying the fair-value hedge method.

 

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Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of December 31, 2016																As of March 31, 2016																As of September 30, 2016 (Reference)
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses												Gains				Losses
MHBK			4,153.1				34.0				40.6				6.6				4,817.5				55.6				61.0				5.3				4,258.6				59.2				60.2				1.0
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			4,153.1				34.0				40.6				6.6				4,817.5				55.6				61.0				5.3				4,258.6				59.2				60.2				1.0
(3) Investments in Subsidiaries and Affiliates
		(Billions of yen)
		As of December 31, 2016																As of March 31, 2016																As of September 30, 2016 (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				176.8				178.1				1.2				108.6				162.0				164.1				2.0				108.6				133.9				136.9				2.9
MHTB			—				—				—				—				—				—				—				—				—				—				—				—
Total			108.6				176.8				178.1				1.2				108.6				162.0				164.1				2.0				108.6				133.9				136.9				2.9

(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 amount is as follows:

Consolidated

 

		(Billions of yen)
		As of December 31,2016								As of March 31, 2016				As of September 30, 2016 (Reference)
		Unrealized Gains/Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			1,828.0				(27.0	)			1,855.1				1,631.9
Japanese Stocks			1,822.9				219.0				1,603.9				1,429.8
Japanese Bonds			36.8				(99.6	)			136.5				88.3
Japanese Government Bonds			17.1				(78.6	)			95.8				53.9
Other			(31.6	)			(146.4	)			114.7				113.7
Foreign Bonds			(162.7	)			(183.6	)			20.8				30.4
Non-Consolidated   Aggregate Figures for the 2 Banks
		(Billions of yen)
		As of December 31, 2016								As of March 31, 2016				As of September 30, 2016 (Reference)
		Unrealized Gains/Losses								Unrealized Gains/Losses				Unrealized Gains/Losses
						Change
Other Securities			1,610.2				(46.1	)			1,656.4				1,439.5
Japanese Stocks			1,751.4				219.0				1,532.4				1,361.1
Japanese Bonds			36.7				(99.6	)			136.3				88.1
Japanese Government Bonds			17.1				(78.6	)			95.8				53.9
Other			(177.9	)			(165.5	)			(12.3	)			(9.6	)
Foreign Bonds			(164.6	)			(182.7	)			18.1				28.5

 

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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, 2016												As of March 31, 2016												As of September 30, 2016 (Reference)
		Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses
		Gains				Losses								Gains				Losses								Gains				Losses
MHBK			754.1				732.9				21.2				871.4				626.9				244.4				900.9				591.3				309.6
MHTB			112.8				109.8				2.9				99.8				99.1				0.7				114.1				110.6				3.5
Total			866.9				842.7				24.1				971.2				726.1				245.1				1,015.1				701.9				313.1

 

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, 2016
						Change				As of March 31, 2016				As of September 30, 2016 (Reference)
Consolidated
Claims against Bankrupt and Substantially Bankrupt Obligors			86.9				3.7				83.1				80.2
Claims with Collection Risk			353.1				(8.1	)			361.2				353.6
Claims for Special Attention			460.9				(3.0	)			464.0				437.0
Total			901.0				(7.4	)			908.4				870.9
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			—				—				—				—
Total			2.8				(0.0	)			2.8				2.8
Total (Consolidated + Trust Account)
Claims against Bankrupt and Substantially Bankrupt Obligors			86.9				3.7				83.1				80.2
Claims with Collection Risk			355.9				(8.1	)			364.1				356.5
Claims for Special Attention			460.9				(3.0	)			464.0				437.0
Total			903.8				(7.4	)			911.3				873.8

 

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, 2016								As of March 31, 2016				As of September 30, 2016 (Reference)
						Change
Claims against Bankrupt and Substantially Bankrupt Obligors			74.4				6.4				68.0				67.5
Claims with Collection Risk			346.2				(7.4	)			353.6				344.5
Claims for Special Attention			402.3				3.8				398.4				376.5
Sub-total [1]			823.0				2.8				820.1				788.6
NPL ratio [1]/[2]			0.96	%			(0.03	)%			1.00	%			0.98	%
Normal Claims			84,265.1				3,256.0				81,009.0				79,509.1
Total [2]			85,088.1				3,258.9				81,829.2				80,297.8
MHBK
Claims against Bankrupt and Substantially Bankrupt Obligors			73.3				6.3				67.0				66.1
Claims with Collection Risk			339.8				(6.1	)			345.9				337.9
Claims for Special Attention			395.6				3.6				391.9				370.0
Sub-total [3]			808.8				3.8				804.9				774.1
NPL ratio [3]/[4]			0.99	%			(0.03	)%			1.02	%			1.00	%
Normal Claims			80,813.6				3,345.9				77,467.6				76,137.4
Total [4]			81,622.4				3,349.8				78,272.5				76,911.6
MHTB
Banking Account
Claims against Bankrupt and Substantially Bankrupt Obligors			1.1				0.1				1.0				1.3
Claims with Collection Risk			3.4				(1.3	)			4.8				3.7
Claims for Special Attention			6.6				0.2				6.4				6.5
Sub-total [5]			11.3				(0.9	)			12.2				11.6
NPL ratio [5]/[6]			0.32	%			(0.01	)%			0.34	%			0.34	%
Normal Claims			3,441.4				(89.0	)			3,530.5				3,361.4
Total [6]			3,452.7				(90.0	)			3,542.7				3,373.1
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]			22.31	%			1.47	%			20.84	%			21.98	%
Normal Claims			10.0				(0.9	)			10.9				10.2
Total [8]			12.9				(0.9	)			13.8				13.1

 

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

 

2-8

---

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, 2016								As of March 31, 2016				As of September 30, 2016 (Reference)
										Change
MHBK							105,974.3				5,777.3				100,197.0				101,928.4
MHTB							3,328.1				271.9				3,056.2				3,286.5
Total							109,302.5				6,049.2				103,253.3				105,215.0
(1)-2 Domestic Deposits
Aggregate Figures for the 2 Banks
						(Billions of yen)
						As of December 31, 2016								As of March 31, 2016				As of September 30, 2016 (Reference)
										Change
MHBK							87,271.4				2,242.5				85,028.9				85,607.8
Individual deposits							40,698.6				1,534.7				39,163.9				39,545.5
MHTB							3,308.3				265.9				3,042.4				3,273.4
Individual deposits							1,030.4				(46.8	)			1,077.3				1,041.6
Total							90,579.8				2,508.4				88,071.3				88,881.2
Individual deposits							41,729.1				1,487.9				40,241.2				40,587.1
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, 2016								As of March 31, 2016				As of September 30, 2016 (Reference)
										Change
MHBK							72,466.6				2,092.2				70,374.3				69,100.1
MHTB							3,409.2				(87.0	)			3,496.3				3,330.5
Total							75,875.8				2,005.1				73,870.7				72,430.7
Note: Loans to MHFG are included as follows:
As of December 31, 2016: ¥608.2 billion (from MHBK)
As of September 30, 2016: ¥515.5 billion (from MHBK)
As of March 31, 2016: ¥686.3 billion (from MHBK)

(3) Interest Margins (Domestic Operations)

Mizuho Bank

								(%)
								Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter  of Fiscal 2015 (Accumulated Period)
												Change
Return on Loans and Bills Discounted					1				0.88				(0.10	)			0.99
Cost of Deposits					2				0.00				(0.03	)			0.03
Loan and Deposit Rate Margin [1]-[2]					3				0.87				(0.07	)			0.95
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				0.95				(0.10	)			1.05
Loan and Deposit Rate Margin [4]-[2]					5				0.94				(0.07	)			1.01
Mizuho Trust & Banking
								(%)
								Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
												Change
Return on Loans and Bills Discounted					6				0.68				(0.19	)			0.87
Cost of Deposits					7				0.03				(0.04	)			0.08
Loan and Deposit Rate Margin [6]-[7]					8				0.64				(0.15	)			0.79
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				0.74				(0.16	)			0.90
Loan and Deposit Rate Margin [9]-[7]					10				0.70				(0.11	)			0.82
(Reference)
Aggregate Figures for the 2 Banks
								(%)
								Third Quarter of Fiscal 2016 (Accumulated Period)								Third Quarter of Fiscal 2015 (Accumulated Period)
												Change
Return on Loans and Bills Discounted					11				0.87				(0.11	)			0.98
Cost of Deposits					12				0.01				(0.03	)			0.04
Loan and Deposit Rate Margin [11]-[12]					13				0.86				(0.08	)			0.94
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				0.93				(0.11	)			1.04
Loan and Deposit Rate Margin [14]-[12]					15				0.92				(0.07	)			1.00

 

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, 2016 (A)				As of March 31, 2016 (B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	35,493,994			¥	30,156,145			¥	5,337,848
Call Loans			198,164				266,249				(68,085	)
Receivables under Resale Agreements			1,111,682				368,351				743,331
Other Debt Purchased			638,586				729,842				(91,256	)
Trading Assets			5,405,741				6,421,352				(1,015,610	)
Money Held in Trust			3,152				3,197				(44	)
Securities			32,580,853				37,903,140				(5,322,286	)
Loans and Bills Discounted			72,466,611				70,374,392				2,092,218
Foreign Exchange Assets			1,865,337				1,343,546				521,790
Derivatives other than for Trading			4,625,854				5,008,314				(382,459	)
Other Assets			3,150,827				1,688,087				1,462,739
Tangible Fixed Assets			824,307				836,484				(12,177	)
Intangible Fixed Assets			726,614				636,583				90,031
Prepaid Pension Cost			477,612				469,034				8,577
Customers’ Liabilities for Acceptances and Guarantees			5,916,618				5,297,202				619,415
Reserves for Possible Losses on Loans			(387,966	)			(379,190	)			(8,775	)
Total Assets		¥	165,097,992			¥	161,122,736			¥	3,975,256
Liabilities
Deposits		¥	105,974,389			¥	100,197,037			¥	5,777,352
Negotiable Certificates of Deposit			10,302,187				11,177,095				(874,908	)
Call Money			888,506				1,127,524				(239,018	)
Payables under Repurchase Agreements			8,209,140				7,588,922				620,217
Guarantee Deposits Received under Securities Lending Transactions			273,577				786,431				(512,853	)
Commercial Paper			678,605				777,601				(98,996	)
Trading Liabilities			4,285,004				5,198,295				(913,290	)
Borrowed Money			9,687,290				8,697,522				989,767
Foreign Exchange Liabilities			639,699				682,188				(42,489	)
Bonds and Notes			4,069,951				4,376,773				(306,821	)
Derivatives other than for Trading			4,387,889				4,423,937				(36,047	)
Other Liabilities			2,290,461				2,998,753				(708,292	)
Reserve for Bonus Payments			5,556				20,437				(14,880	)
Reserve for Variable Compensation			951				1,300				(348	)
Reserve for Possible Losses on Sales of Loans			69				267				(197	)
Reserve for Contingencies			132				800				(668	)
Reserve for Reimbursement of Deposits			13,119				15,041				(1,921	)
Reserve for Reimbursement of Debentures			33,079				39,245				(6,165	)
Deferred Tax Liabilities			189,775				302,072				(112,296	)
Deferred Tax Liabilities for Revaluation Reserve for Land			67,155				67,991				(835	)
Acceptances and Guarantees			5,916,618				5,297,202				619,415
Total Liabilities			157,913,161				153,776,443				4,136,718
Net Assets
Common Stock and Preferred Stock			1,404,065				1,404,065				—
Capital Surplus			2,286,328				2,286,795				(466	)
Capital Reserve			655,418				655,324				93
Other Capital Surplus			1,630,910				1,631,471				(560	)
Retained Earnings			2,234,139				2,231,469				2,669
Appropriated Reserve			225,810				169,829				55,981
Other Retained Earnings			2,008,329				2,061,640				(53,311	)
Retained Earnings Brought Forward			2,008,329				2,061,640				(53,311	)
Total Shareholders’ Equity			5,924,533				5,922,330				2,202
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			1,099,269				1,106,333				(7,064	)
Net Deferred Hedge Gains (Losses), net of Taxes			14,123				169,143				(155,020	)
Revaluation Reserve for Land, net of Taxes			146,904				148,483				(1,579	)
Total Valuation and Translation Adjustments			1,260,296				1,423,961				(163,664	)
Total Net Assets			7,184,830				7,346,292				(161,462	)
Total Liabilities and Net Assets		¥	165,097,992			¥	161,122,736			¥	3,975,256

 

2-10

---

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, 2016 (A)				For the nine months ended December 31, 2015 (B)				Change (A) - (B)
Ordinary Income		¥	1,640,696			¥	1,676,419			¥	(35,722	)
Interest Income			882,760				901,994				(19,233	)
Interest on Loans and Bills Discounted			617,640				607,012				10,628
Interest and Dividends on Securities			172,522				204,493				(31,970	)
Fee and Commission Income			344,627				348,667				(4,040	)
Trading Income			47,474				62,686				(15,211	)
Other Operating Income			176,140				145,642				30,497
Other Ordinary Income			189,694				217,428				(27,733	)
Ordinary Expenses			1,266,593				1,126,014				140,578
Interest Expenses			347,977				274,896				73,081
Interest on Deposits			137,412				95,369				42,043
Fee and Commission Expenses			76,360				77,076				(715	)
Trading Expenses			1,010				7,237				(6,226	)
Other Operating Expenses			32,749				29,489				3,259
General and Administrative Expenses			671,128				623,762				47,366
Other Ordinary Expenses			137,366				113,552				23,814
Ordinary Profits			374,103				550,404				(176,300	)
Extraordinary Gains			1,632				6,483				(4,850	)
Extraordinary Losses			3,968				2,824				1,143
Income before Income Taxes			371,768				554,063				(182,295	)
Income Taxes:
Current			102,664				111,102				(8,438	)
Deferred			(10,475	)			57,830				(68,305	)
Net Income		¥	279,579			¥	385,130			¥	(105,551	)

 

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, 2016 (A)				As of March 31, 2016 (B)				Change (A) - (B)
Assets
Cash and Due from Banks		¥	1,643,545			¥	1,665,011			¥	(21,465	)
Call Loans			2,912				5,520				(2,608	)
Guarantee Deposits Paid under Securities Borrowing Transactions			281,344				215,970				65,374
Other Debt Purchased			9,846				13,358				(3,512	)
Trading Assets			99,579				127,305				(27,725	)
Money Held in Trust			2,895				2,578				317
Securities			1,286,907				1,492,120				(205,213	)
Loans and Bills Discounted			3,409,249				3,496,313				(87,064	)
Foreign Exchange Assets			3,644				3,675				(31	)
Other Assets			90,112				80,648				9,463
Tangible Fixed Assets			24,810				24,632				177
Intangible Fixed Assets			28,831				24,022				4,808
Prepaid Pension Cost			49,301				49,795				(493	)
Customers’ Liabilities for Acceptances and Guarantees			40,711				43,749				(3,038	)
Reserves for Possible Losses on Loans			(5,142	)			(5,636	)			493
Total Assets		¥	6,968,550			¥	7,239,067			¥	(270,516	)
Liabilities
Deposits		¥	3,328,191			¥	3,056,268			¥	271,922
Negotiable Certificates of Deposit			275,910				353,070				(77,160	)
Call Money			865,365				1,162,877				(297,512	)
Payables under Repurchase Agreements			69,900				67,602				2,298
Guarantee Deposits Received under Securities Lending Transactions			199,239				420,713				(221,474	)
Trading Liabilities			92,306				121,483				(29,177	)
Borrowed Money			358,110				366,955				(8,845	)
Foreign Exchange Liabilities			2				0				2
Bonds and Notes			10,000				10,000				—
Due to Trust Accounts			1,133,486				1,019,554				113,931
Other Liabilities			34,261				60,074				(25,813	)
Reserve for Bonus Payments			—				1,953				(1,953	)
Reserve for Variable Compensation			309				401				(91	)
Reserve for Reimbursement of Deposits			1,089				1,113				(23	)
Deferred Tax Liabilities			10,582				12,043				(1,461	)
Acceptances and Guarantees			40,711				43,749				(3,038	)
Total Liabilities			6,419,465				6,697,859				(278,394	)
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			189,970				180,091				9,879
Appropriated Reserve			27,427				23,327				4,099
Other Retained Earnings			162,542				156,763				5,779
Retained Earnings Brought Forward			162,542				156,763				5,779
Total Shareholders’ Equity			452,845				442,965				9,879
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			94,213				97,740				(3,526	)
Net Deferred Hedge Gains (Losses), net of Taxes			2,025				501				1,524
Total Valuation and Translation Adjustments			96,239				98,241				(2,001	)
Total Net Assets			549,085				541,207				7,877
Total Liabilities and Net Assets		¥	6,968,550			¥	7,239,067			¥	(270,516)

 

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, 2016 (A)				For the nine months ended December 31, 2015 (B)				Change (A) - (B)
Ordinary Income		¥	140,900			¥	138,636			¥	2,263
Fiduciary Income			34,798				38,282				(3,483	)
Interest Income			29,643				36,614				(6,970	)
Interest on Loans and Bills Discounted			19,488				21,441				(1,952	)
Interest and Dividends on Securities			8,839				13,766				(4,927	)
Fee and Commission Income			36,509				36,231				278
Trading Income			717				1,115				(397	)
Other Operating Income			14,117				18,464				(4,347	)
Other Ordinary Income			25,112				7,928				17,184
Ordinary Expenses			99,983				100,542				(558	)
Interest Expenses			7,462				8,421				(958	)
Interest on Deposits			969				1,692				(723	)
Fee and Commission Expenses			19,724				19,707				17
Trading Expenses			0				—				0
Other Operating Expenses			4,959				7,237				(2,278	)
General and Administrative Expenses			65,222				59,459				5,762
Other Ordinary Expenses			2,615				5,716				(3,101	)
Ordinary Profits			40,916				38,094				2,821
Extraordinary Gains			—				995				(995	)
Extraordinary Losses			164				170				(5	)
Income before Income Taxes			40,751				38,919				1,832
Income Taxes:
Current			8,965				8,908				56
Deferred			1,346				3,899				(2,553	)
Net Income		¥	30,439			¥	26,110			¥	4,329

 

2-13

---

Mizuho Securities Co., Ltd.

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO SECURITIES

 

		Millions of yen
		As of December 31, 2016 (A)				As of March 31, 2016 (B)				Change (A) - (B)
Assets
Current Assets
Cash and Bank Deposits		¥	376,749			¥	283,049			¥	93,699
Cash Segregated as Deposits for Customers and Others			233,312				170,684				62,628
Trading Assets			5,665,941				5,990,021				(324,080	)
Receivables — Unsettled Trades			—				27,923				(27,923	)
Operating Investment Securities			20,246				19,010				1,236
Operating Loans Receivable			2,830				3,100				(270	)
Receivables Related to Margin Transactions			98,220				98,958				(737	)
Collateralized Short-Term Financing Agreements-Receivable			4,829,829				3,949,642				880,187
Advances Paid			74				107				(33	)
Securities: Fail to Deliver			17,367				11,937				5,429
Short-Term Loans Receivable			23,780				50,711				(26,931	)
Deferred Tax Assets			16,123				8,735				7,388
Other Current Assets			627,833				404,314				223,518
Less: Allowance for Doubtful Accounts			(7	)			(16	)			9
Noncurrent Assets
Property and Equipment			14,365				14,540				(175	)
Intangible Assets			46,955				42,370				4,584
Investments and Other Assets			283,551				308,153				(24,601	)
Total Assets		¥	12,257,175			¥	11,383,246			¥	873,928
Liabilities
Current Liabilities
Trading Liabilities		¥	4,663,159			¥	4,445,062			¥	218,097
Payables — Unsettled Trades			414,172				—				414,172
Payables Related to Margin Transactions			43,191				42,278				913
Collateralized Short-Term Financing Agreements-Payable			4,435,058				3,861,722				573,336
Deposits Received			231,819				136,356				95,463
Guarantee Deposits Received			207,933				154,013				53,920
Securities: Fail to Receive			7,000				4,271				2,729
Short-Term Borrowings			318,681				479,403				(160,722	)
Commercial Paper			119,300				513,700				(394,400	)
Bonds and Notes Due within One Year			80,800				55,602				25,198
Lease Obligations			374				377				(3	)
Income Taxes Payable			531				4,400				(3,869	)
Accrued Employees’ Bonuses			9,313				13,217				(3,903	)
Provision for Variable Compensation			641				790				(148	)
Provision for Bonus Point Redemption			509				623				(113	)
Other Current Liabilities			36,962				31,422				5,540
Noncurrent Liabilities
Bonds and Notes			543,820				548,766				(4,946	)
Long-Term Borrowings			281,000				409,400				(128,400	)
Lease Obligations			580				857				(277	)
Provision for Retirement Benefits			19,036				18,034				1,002
Other Noncurrent Liabilities			1,719				1,885				(166	)
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities			2,283				2,005				277
Total Liabilities			11,417,889				10,724,190				693,698
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			321,028				149,594				171,434
Other Retained Earnings			321,028				149,594				171,434
Retained Earnings Brought Forward			321,028				149,594				171,434
Total Shareholders’ Equity			827,845				656,411				171,434
Net Unrealized Gains on (Operating) Investment Securities, net of Tax			23,320				21,626				1,693
Net Deferred Gains or Losses on Hedges, net of Tax			(11,879	)			(18,982	)			7,102
Total Valuation and Translation Adjustments			11,441				2,644				8,796
Total Net Assets			839,286				659,056				180,230
Total Liabilities and Net Assets		¥	12,257,175			¥	11,383,246			¥	873,928

 

2-14

---

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, 2016 (A)				For the  nine months ended December 31, 2015 (B)				Change (A) - (B)
Operating Revenues		¥	254,501			¥	236,194			¥	18,307
Commissions			108,818				120,214				(11,396	)
Net Gain on Trading			116,815				92,710				24,104
Net Gain on Operating Investment Securities			512				4,950				(4,437	)
Interest and Dividend Income			28,355				18,318				10,036
Interest Expenses			26,576				18,808				7,767
Net Operating Revenues			227,925				217,385				10,539
Selling, General and Administrative Expenses			177,036				172,935				4,100
Transaction-Related Expenses			38,757				38,670				86
Personnel Expenses			66,246				63,723				2,522
Real Estate Expenses			19,581				18,895				686
Administrative Expenses			35,175				35,791				(615	)
Depreciation and Amortization			12,653				10,711				1,942
Taxes and Dues			2,105				2,835				(730	)
Provision of Allowance for Doubtful Accounts			(7	)			(387	)			379
Other			2,523				2,694				(171	)
Operating Income			50,888				44,450				6,438
Non-Operating Income			7,186				7,343				(156	)
Non-Operating Expenses			913				891				21
Ordinary Income			57,162				50,901				6,260
Extraordinary Gain			118,478				13,222				105,255
Extraordinary Loss			1,686				1,382				304
Income before Income Taxes			173,953				62,741				111,212
Income Taxes:
Current			121				1,292				(1,171	)
Deferred			(15,737	)			16,578				(32,316	)
Net Income		¥	189,569			¥	44,870			¥	144,699

 

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