UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K/A
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2010
Commission File Number 001-33098
Mizuho Financial Group, Inc.
(Translation of registrant’s name into English)
5-1, Marunouchi 2-chome
Chiyoda-ku, Tokyo 100-8333
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 x 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 x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82- .
Information furnished on this form
EXHIBIT
| Exhibit Number |
Description | |
| 1. |
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on September 14, 2007, January 31, 2008, August 7, 2008, January 29, 2009, July 30, 2009 and January 28, 2010 |
Note
Mizuho Financial Group, Inc. (the “Company”) furnished Reports of Foreign Private Issuer on Form 6-K with the Securities and Exchange Commission regarding its Status of Capital Adequacy on September 14, 2007, January 31, 2008, August 7, 2008, January 29, 2009, July 30, 2009 and January 28, 2010. The Company is furnishing this Form 6-K/A to make corrections on certain figures as shown in Exhibit 1 to this report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: April 23, 2010 | ||
| Mizuho Financial Group, Inc. | ||
| By: | /s/ Takeo Nakano | |
| Name: | Takeo Nakano | |
| Title: | Managing Executive Officer / CFO | |
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on September 14, 2007
Status of Mizuho Financial Group’s Consolidated Capital Adequacy
Credit risk
(7) Credit risk exposure, etc.
Status of exposure to which the internal ratings-based approach is applied
Page 23:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2007 |
Actual losses | Actual losses | ||
| Corporate, Bank, Sovereign |
1,030.0 | 1,131.3 | ||
| Residential mortgage |
110.5 | 110.5 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
63.1 | 63.1 | ||
| Total |
1,208.7 | 1,309.9 | ||
| Note: Corrections are underlined. |
||||
Page 24:
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2007 |
Actual losses | Actual losses | ||
| Corporate, Bank, Sovereign |
1,030.0 | 1,131.3 | ||
| Residential mortgage |
110.5 | 110.5 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
63.1 | 63.1 | ||
| Total |
1,208.7 | 1,309.9 | ||
| Note: Corrections are underlined. |
||||
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on January 31, 2008
Status of Mizuho Financial Group’s Consolidated Capital Adequacy
Credit risk
(3) Credit risk exposure, etc.
Status of exposure to which the internal ratings-based approach is applied
Page 19:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2006 through September 30, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,022.4 | 1,094.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
3.7 | 3.7 | ||
| Residential mortgage |
95.3 | 95.3 | ||
| Qualifying revolving loans (retail) |
5.1 | 5.1 | ||
| Other retail |
52.5 | 52.5 | ||
| Total |
1,179.5 | 1,251.2 | ||
| Note: Corrections are underlined. |
||||
Page 19:
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2006 through September 30, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,022.4 | 1,094.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
3.7 | 3.7 | ||
| Residential mortgage |
95.3 | 95.3 | ||
| Qualifying revolving loans (retail) |
5.1 | 5.1 | ||
| Other retail |
52.5 | 52.5 | ||
| Total |
1,179.5 | 1,251.2 | ||
| Note: Corrections are underlined. |
||||
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on August 7, 2008
Status of Mizuho Financial Group’s Consolidated Capital Adequacy
Credit risk
(7) Credit risk exposure, etc.
Status of exposure to which the internal ratings-based approach is applied
Page 30:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,025.2 | 1,126.5 | ||
| Sovereign |
0.9 | 0.9 | ||
| Bank |
3.8 | 3.8 | ||
| Residential mortgage |
110.5 | 110.5 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
63.1 | 63.1 | ||
| Total |
1,208.7 | 1,309.9 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2008 |
Actual losses | Actual losses | ||
| Corporate |
930.5 | 1,001.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
0.4 | 0.4 | ||
| Residential mortgage |
75.7 | 75.7 | ||
| Qualifying revolving loans (retail) |
4.7 | 4.7 | ||
| Other retail |
41.7 | 41.7 | ||
| Total |
1,053.3 | 1,123.8 | ||
| Note: Corrections are underlined. | ||||
<Analysis>
<Before Correction>
Actual losses decreased by ¥155.4 billion from the previous fiscal year to ¥1,053.3 billion in the fiscal year ended March 31, 2008.
<After Correction>
Actual losses decreased by ¥186.1 billion from the previous fiscal year to ¥1,123.8 billion in the fiscal year ended March 31, 2008.
Note: Corrections are underlined.
Page 31:
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,025.2 | 1,126.5 | ||
| Sovereign |
0.9 | 0.9 | ||
| Bank |
3.8 | 3.8 | ||
| Residential mortgage |
110.5 | 110.5 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
63.1 | 63.1 | ||
| Total |
1,208.7 | 1,309.9 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2008 |
Actual losses | Actual losses | ||
| Corporate |
930.5 | 1,001.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
0.4 | 0.4 | ||
| Residential mortgage |
75.7 | 75.7 | ||
| Qualifying revolving loans (retail) |
4.7 | 4.7 | ||
| Other retail |
41.7 | 41.7 | ||
| Total |
1,053.3 | 1,123.8 | ||
| Note: Corrections are underlined. | ||||
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on January 29, 2009
Status of Mizuho Financial Group’s Consolidated Capital Adequacy
Credit risk
(3) Credit risk exposure, etc.
Status of exposure to which the internal ratings-based approach is applied
Page 23:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2006 through September 30, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,022.4 | 1,094.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
3.7 | 3.7 | ||
| Residential mortgage |
95.3 | 95.3 | ||
| Qualifying revolving loans (retail) |
5.1 | 5.1 | ||
| Other retail |
52.5 | 52.5 | ||
| Total |
1,179.5 | 1,251.2 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2007 through September 30, 2008 |
Actual losses | Actual losses | ||
| Corporate |
786.9 | 934.9 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
28.9 | 28.9 | ||
| Residential mortgage |
83.2 | 83.2 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
42.2 | 42.2 | ||
| Total |
946.3 | 1,094.3 | ||
| Note: Corrections are underlined. | ||||
<Analysis>
<Before Correction>
Actual losses decreased by ¥233.2 billion from the period from October 1, 2006 through September 30, 2007, to ¥946.3 billion in the period from October 1, 2007 through September 30, 2008.
<After Correction>
Actual losses decreased by ¥156.9 billion from the period from October 1, 2006 through September 30, 2007, to ¥1,094.3 billion in the period from October 1, 2007 through September 30, 2008.
Note: Corrections are underlined.
Page 24:
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2006 through September 30, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,022.4 | 1,094.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
3.7 | 3.7 | ||
| Residential mortgage |
95.3 | 95.3 | ||
| Qualifying revolving loans (retail) |
5.1 | 5.1 | ||
| Other retail |
52.5 | 52.5 | ||
| Total |
1,179.5 | 1,251.2 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2007 through September 30, 2008 |
Actual losses | Actual losses | ||
| Corporate |
786.9 | 934.9 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
28.9 | 28.9 | ||
| Residential mortgage |
83.2 | 83.2 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
42.2 | 42.2 | ||
| Total |
946.3 | 1,094.3 | ||
| Note: Corrections are underlined. |
||||
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on July 30, 2009
Capital adequacy ratio highlights
Capital adequacy ratio highlights
Page 2:
| Mizuho Financial Group (Consolidated) | <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
||||
| As of March 31, 2009 |
||||||
| Consolidated capital adequacy ratio (BIS standard) |
10.55 | % | 10.53 | % | ||
| Tier 1 capital ratio |
6.38 | % | 6.37 | % | ||
| Tier 1 capital |
3,766.3 | 3,765.0 | ||||
| Tier 2 capital |
2,793.8 | 2,793.1 | ||||
| Deductions for total risk-based capital |
333.2 | 334.5 | ||||
| Total risk-based capital |
6,226.9 | 6,223.6 | ||||
| Risk-weighted assets |
58,983.9 | 59,056.2 | ||||
| Note: Corrections are underlined. |
||||||
| (Reference) Mizuho Bank (Consolidated) | <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
||||
| As of March 31, 2009 |
||||||
| Consolidated capital adequacy ratio (Domestic standard) |
11.78 | % | 11.77 | % | ||
| Tier 1 capital ratio |
6.66 | % | 6.65 | % | ||
| Tier 1 capital |
1,696.9 | 1,696.5 | ||||
| Tier 2 capital |
1,382.6 | 1,382.6 | ||||
| Deductions for total risk-based capital |
76.8 | 77.3 | ||||
| Total risk-based capital |
3,002.7 | 3,001.8 | ||||
| Risk-weighted assets |
25,478.3 | 25,497.9 | ||||
| (Reference) Consolidated capital adequacy ratio (BIS standard) |
10.56 | % | 10.56 | % | ||
| Note: Corrections are underlined. | ||||||
| Mizuho Bank (Non-Consolidated) | <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
||||
| As of March 31, 2009 |
||||||
| Non-consolidated capital adequacy ratio (Domestic standard) |
11.78 | % | 11.76 | % | ||
| Tier 1 capital ratio |
6.64 | % | 6.63 | % | ||
| Tier 1 capital |
1,645.4 | 1,644.9 | ||||
| Tier 2 capital |
1,368.6 | 1,368.3 | ||||
| Deductions for total risk-based capital |
97.7 | 98.1 | ||||
| Total risk-based capital |
2,916.3 | 2,915.2 | ||||
| Risk-weighted assets |
24,756.5 | 24,776.0 | ||||
| (Reference) Non-consolidated capital adequacy ratio (BIS standard) |
10.46 | % | 10.45 | % | ||
| Note: Corrections are underlined. |
||||||
Status of Mizuho Financial Group’s Consolidated Capital Adequacy
Consolidated capital adequacy ratio
Page 5:
| (2) Summary table of consolidated capital adequacy ratio (BIS Standard) | <Before Correction> | <After Correction> | ||||||||
| (Billions of yen) | (Billions of yen) | |||||||||
| As of March 31, 2009 |
||||||||||
| Tier 1 capital |
Less: 50% of excess of expected losses relative to eligible reserves by banks adopting internal ratings-based approach |
54.6 | 55.9 | |||||||
| Total of Tier 1 capital before deduction of defferred tax assets (total of the above items) |
3,766.3 | 3,765.0 | ||||||||
| Total |
(A) | 3,766.3 | 3,765.0 | |||||||
| Tier 2 capital |
Total |
2,879.9 | 2,879.9 | |||||||
| Tier 2 capital included as qualifying capital |
(C) | 2,793.8 | 2,793.1 | |||||||
| Deductions for total risk-based capital |
Deductions for total risk-based capital |
(E) | 333.2 | 334.5 | ||||||
| Total risk-based capital |
(A) + (C) + (D) – (E) |
(F) | 6,226.9 | 6,223.6 | ||||||
| Risk-weighted assets |
Credit risk-weighted assets |
(G) | 54,159.3 | 54,231.6 | ||||||
| On-balance-sheet items |
43,561.6 | 43,629.3 | ||||||||
| Off-balance-sheet items |
10,597.7 | 10,602.3 | ||||||||
| Total [(G) + (H) + (J) + (L) ] |
(M) | 58,983.9 | 59,056.2 | |||||||
| Consolidated capital adequacy ratio (BIS standard) = (F)/(M)×100 |
10.55 | % | 10.53 | % | ||||||
| Tier 1 capital ratio = (A)/(M) ×100 |
6.38 | % | 6.37 | % | ||||||
Page 6: Notes:
<Before Correction>
4. The amounts of net deferred tax assets as of March 31, 2008 and 2009 were ¥596.5 billion and ¥714.6 billion, respectively, and the maximum amounts of deferred tax assets that can be recorded without diminishing the amount of Tier 1 capital for the purpose of calculating capital adequacy ratio as of March 31, 2008 and 2009 were ¥976.0 billion and ¥753.2 billion, respectively.
<After Correction>
4. The amounts of net deferred tax assets as of March 31, 2008 and 2009 were ¥596.5 billion and ¥714.6 billion, respectively, and the maximum amounts of deferred tax assets that can be recorded without diminishing the amount of Tier 1 capital for the purpose of calculating capital adequacy ratio as of March 31, 2008 and 2009 were ¥976.0 billion and ¥753.0 billion, respectively.
Note: Corrections are underlined.
Risk-based Capital
Page 19:
| (5) Required capital by portfolio classification | <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | ||||
| EAD | Required capital | EAD | Required capital | |||||
| As of March 31, 2009 | ||||||||
| Credit risk |
155,516.2 | 5,907.0 | 155,523.8 | 5,915.4 | ||||
| Internal ratings-based approach |
146,715.4 | 5,602.1 | 146,711.0 | 5,610.3 | ||||
| Corporate (except specialized lending) |
55,192.8 | 3,437.5 | 55,192.8 | 3,445.7 | ||||
| Sovereign |
54,333.3 | 64.0 | 54,333.2 | 64.0 | ||||
| Bank |
6,561.6 | 188.6 | 6,557.2 | 188.6 | ||||
| Securitizations |
5,645.3 | 80.4 | 5,645.3 | 80.5 | ||||
| Standardized approach |
8,800.8 | 304.8 | 8,812.8 | 305.0 | ||||
| Bank |
2,290.7 | 41.0 | 2,302.8 | 41.2 | ||||
| Total required capital (consolidated) |
n.a. | 4,718.7 | n.a. | 4,724.4 | ||||
Note: Corrections are underlined.
Credit risk
(7) Credit risk exposure, etc.
Status of credit risk exposure
Page 21:
(A) Breakdown by geographical area
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||
| As of March 31, 2009 |
Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | ||||
| Domestic |
81,277.1 | 113,375.6 | 81,273.6 | 113,372.2 | ||||
| Overseas |
16,524.9 | 26,812.3 | 16,523.9 | 26,811.3 | ||||
| Western Europe |
4,077.9 | 7,588.9 | 4,077.0 | 7,587.9 | ||||
| Total |
97,802.0 | 140,187.9 | 97,797.6 | 140,183.5 | ||||
| Exempt portion |
n.a. | 8,763.6 | n.a. | 8,775.6 | ||||
| Note: Corrections are underlined. | ||||||||
Page 22:
(B) Breakdown by industry
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||
| As of March 31, 2009 |
Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | ||||
| Finance and insurance |
10,190.8 | 16,069.9 | 10,186.4 | 16,065.5 | ||||
| Total |
97,802.0 | 140,187.9 | 97,797.6 | 140,183.5 | ||||
| Exempt portion |
n.a. | 8,763.6 | n.a. | 8,775.6 | ||||
| Note: Corrections are underlined. | ||||||||
Page 23:
(C) Breakdown by residual contractual maturity
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||
| As of March 31, 2009 |
Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | Loans, commitments and other non-OTC derivative off-balance-sheet exposures |
Total | ||||
| Less than one year |
34,167.8 | 44,954.1 | 34,163.4 | 44,949.7 | ||||
| Total |
97,802.0 | 140,187.9 | 97,797.6 | 140,183.5 | ||||
| Exempt portion |
n.a. | 8,763.6 | n.a. | 8,775.6 | ||||
| Note: Corrections are underlined. | ||||||||
Status of exposure to which the standardized approach is applied
Page 27:
(I) Exposure by risk weight category after applying credit risk mitigation
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||||||||
| As of March 31, 2009 |
On-balance sheet | Off-balance sheet | Total | On-balance sheet | Off-balance sheet | Total | ||||||||
| Risk Weight |
20% | 439.0 | 1,815.7 | 2,254.8 | 439.0 | 1,827.7 | 2,266.8 | |||||||
| 50% | 48.6 | 13.2 | 61.9 | 48.6 | 13.2 | 61.8 | ||||||||
| Total |
3,247.2 | 5,516.3 | 8,763.6 | 3,247.2 | 5,528.4 | 8,775.6 | ||||||||
| Note: Corrections are underlined. | ||||||||||||||
Status of exposure to which the internal ratings-based approach is applied
Page 29:
(M) Portfolio by asset class and ratings segment (Corporate)
| <Before Correction> | (Billions of yen, except percentages) | |||||||||||||
| LGD (EAD | EL default | Risk weight | ||||||||||||
| weighted | (EAD weighted | (EAD weighted | On-balance | Off-balance | ||||||||||
| As of March 31, 2009 |
average)(%) | average)(%) | average)(%) | EAD | sheet | sheet | ||||||||
| Corporate |
36.12 | n.a. | 50.09 | 57,948.7 | 43,672.7 | 14,276.0 | ||||||||
| Investment grade zone |
37.25 | n.a. | 26.37 | 31,782.9 | 21,536.7 | 10,246.2 | ||||||||
| Non-investment grade zone |
33.17 | n.a. | 81.72 | 24,327.0 | 20,389.9 | 3,937.1 | ||||||||
| Default |
55.58 | 52.45 | 41.46 | 1,838.6 | 1,745.9 | 92.6 | ||||||||
| Sovereign |
39.14 | n.a. | 1.45 | 54,390.8 | 38,534.3 | 15,856.5 | ||||||||
| Investment grade zone |
39.14 | n.a. | 1.22 | 54,251.4 | 38,398.7 | 15,852.6 | ||||||||
| Bank |
38.16 | n.a. | 29.13 | 6,714.0 | 2,508.7 | 4,205.2 | ||||||||
| Investment grade zone |
37.71 | n.a. | 23.90 | 6,184.8 | 2,254.0 | 3,930.7 | ||||||||
| Total |
37.97 | n.a. | 27.65 | 119,870.9 | 85,533.2 | 34,337.7 | ||||||||
| Investment grade zone |
38.71 | n.a. | 12.07 | 92,789.4 | 62,759.8 | 30,029.6 | ||||||||
| Non-investment grade zone |
33.86 | n.a. | 84.05 | 25,192.3 | 20,978.1 | 4,214.2 | ||||||||
| Default |
56.63 | 53.55 | 40.81 | 1,889.1 | 1,795.2 | 93.9 | ||||||||
| <After Correction> | (Billions of yen, except percentages) | |||||||||||||
| LGD (EAD | EL default | Risk weight | ||||||||||||
| weighted | (EAD weighted | (EAD weighted | On-balance | Off-balance | ||||||||||
| As of March 31, 2009 |
average)(%) | average)(%) | average)(%) | EAD | sheet | sheet | ||||||||
| Corporate |
36.19 | n.a. | 50.20 | 57,948.7 | 43,672.7 | 14,276.0 | ||||||||
| Investment grade zone |
37.30 | n.a. | 26.40 | 31,784.8 | 21,538.5 | 10,246.2 | ||||||||
| Non-investment grade zone |
33.26 | n.a. | 81.96 | 24,325.2 | 20,388.1 | 3,937.1 | ||||||||
| Default |
55.69 | 52.55 | 41.58 | 1,838.6 | 1,745.9 | 92.6 | ||||||||
| Sovereign |
39.15 | n.a. | 1.45 | 54,390.8 | 38,534.3 | 15,856.5 | ||||||||
| Investment grade zone |
39.15 | n.a. | 1.22 | 54,251.4 | 38,398.7 | 15,852.6 | ||||||||
| Bank |
38.16 | n.a. | 29.14 | 6,709.6 | 2,508.7 | 4,200.8 | ||||||||
| Investment grade zone |
37.71 | n.a. | 23.91 | 6,180.4 | 2,254.0 | 3,926.3 | ||||||||
| Total |
38.01 | n.a. | 27.71 | 119,866.5 | 85,533.2 | 34,333.3 | ||||||||
| Investment grade zone |
38.73 | n.a. | 12.08 | 92,786.8 | 62,761.6 | 30,025.2 | ||||||||
| Non-investment grade zone |
33.94 | n.a. | 84.28 | 25,190.5 | 20,976.3 | 4,214.2 | ||||||||
| Default |
56.73 | 53.64 | 40.93 | 1,889.1 | 1,795.2 | 93.9 | ||||||||
Note: Corrections are underlined.
Page 30:
(N) Portfolio by asset class and ratings segment (Retail)
| <Before Correction> | <After Correction> | |||
| As of March 31, 2009 |
Risk weight (EAD weighted average)(%) | Risk weight (EAD weighted average)(%) | ||
| Other retail |
58.31 | 58.31 | ||
| Non-default |
58.88 | 58.89 | ||
Note: Correction is underlined.
Page 31:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2008 |
Actual losses | Actual losses | ||
| Corporate |
930.5 | 1,001.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
0.4 | 0.4 | ||
| Total |
1,053.3 | 1,123.8 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2009 |
Actual losses | Actual losses | ||
| Corporate |
951.3 | 1,137.4 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
29.5 | 29.5 | ||
| Total |
1,107.0 | 1,293.1 | ||
| Note: Corrections are underlined. | ||||
<Analysis>
<Before Correction>
Actual losses increased by ¥53.7 billion from the previous fiscal year to ¥1,107.0 billion in the fiscal year ended March 31, 2009.
<After Correction>
Actual losses increased by ¥169.3 billion from the previous fiscal year to ¥1,293.1 billion in the fiscal year ended March 31, 2009.
Note: Corrections are underlined.
Page 31:
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,025.2 | 1,126.5 | ||
| Sovereign |
0.9 | 0.9 | ||
| Bank |
3.8 | 3.8 | ||
| Total |
1,208.7 | 1,309.9 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2008 |
Actual losses | Actual losses | ||
| Corporate |
930.5 | 1,001.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
0.4 | 0.4 | ||
| Total |
1,053.3 | 1,123.8 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the fiscal year ended March 31, 2009 |
Actual losses | Actual losses | ||
| Corporate |
951.3 | 1,137.4 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
29.5 | 29.5 | ||
| Total |
1,107.0 | 1,293.1 | ||
| Note: Corrections are underlined. | ||||
Methods for credit risk mitigation
Page 32:
(9) Credit risk mitigation by portfolio classification
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||||||||||
| As of March 31, 2009 |
Financial collateral |
Other collateral |
Guarantees | Total | Financial collateral |
Other collateral |
Guarantees | Total | ||||||||
| Internal ratings-based approach |
2,481.0 | 4,993.3 | 5,246.5 | 13,126.1 | 2,480.5 | 4,869.5 | 5,248.3 | 13,003.7 | ||||||||
| Corporate |
2,066.3 | 4,912.4 | 2,781.1 | 10,165.1 | 2,065.8 | 4,800.5 | 2,783.0 | 10,054.6 | ||||||||
| Sovereign |
0.3 | 28.2 | 1,433.2 | 1,461.8 | 0.3 | 16.4 | 1,433.2 | 1,450.0 | ||||||||
| Retail |
13.9 | 51.8 | 812.2 | 878.0 | 13.9 | 51.7 | 812.2 | 878.0 | ||||||||
| Other retail |
13.9 | 51.8 | 511.3 | 577.1 | 13.9 | 51.7 | 511.3 | 577.0 | ||||||||
| Total |
4,699.3 | 4,993.3 | 5,301.1 | 15,398.9 | 4,698.8 | 4,869.5 | 5,302.9 | 15,276.5 | ||||||||
| Note: Corrections are underlined. | ||||||||||||||||
Counterparty risk in derivatives transactions and long-settlement transactions
(11) Status of counterparty risk in derivatives transactions and long-settlement transactions
Page 34:
(B) Amounts of credit risk mitigation by type
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| As of March 31, 2009 |
||||
| Other collateral |
75.9 | 75.8 | ||
| Total |
138.4 | 138.2 | ||
| Note: Corrections are underlined. | ||||
Securitization exposure
(14) Quantitative disclosure items for securitization exposure
Securitization exposure as originator
Page 37:
(B) Information of securitization exposure retained or purchased
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| As of March 31, 2009 |
Required capital | Required capital | ||
| Risk weight Up to 250% |
3.3 | 3.4 | ||
| Total |
16.0 | 16.1 | ||
| Note: Corrections are underlined. | ||||
Market and Liquidity Risk Management
Outlier Criteria
Page 48:
Results of calculations under the outlier framework
| <Before Correction> | <After Correction> | |||||||||||||
| (in billions of yen, except percentages) | (in billions of yen, except percentages) | |||||||||||||
| Amount of loss |
Broadly-defined capital |
Loss ratio to capital |
Amount of loss |
Broadly-defined capital |
Loss ratio to capital |
|||||||||
| As of March 31, 2009 |
532.4 | 6,226.9 | 8.5 | % | 532.4 | 6,223.6 | 8.5 | % | ||||||
| Note: Correction is underlined. | ||||||||||||||
Exhibit 1
Corrections to “Status of Capital Adequacy” furnished on Form 6-K on January 28, 2010
Capital adequacy ratio highlights
Capital adequacy ratio highlights
Page 2:
| Mizuho Financial Group (Consolidated) | <Before Correction> | <After Correction> | ||||
| (Billions of yen) | (Billions of yen) | |||||
| As of September 30, 2009 |
||||||
| Consolidated capital adequacy ratio (BIS standard) |
12.91 | % | 12.89 | % | ||
| Tier 1 capital ratio |
8.71 | % | 8.69 | % | ||
| Tier 1 capital |
5,148.7 | 5,147.4 | ||||
| Tier 2 capital |
2,733.4 | 2,733.4 | ||||
| Deductions for total risk-based capital |
249.5 | 250.8 | ||||
| Total risk-based capital |
7,632.6 | 7,630.0 | ||||
| Risk-weighted assets |
59,102.3 | 59,170.0 | ||||
| Note: Corrections are underlined. | ||||||
(Reference)
| Mizuho Bank (Consolidated) | <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
||||
| As of September 30, 2009 |
||||||
| Consolidated capital adequacy ratio (Domestic standard) |
12.79 | % | 12.77 | % | ||
| Tier 1 capital ratio |
7.50 | % | 7.49 | % | ||
| Tier 1 capital |
1,837.1 | 1,836.2 | ||||
| Tier 2 capital |
1,355.9 | 1,355.9 | ||||
| Deductions for total risk-based capital |
62.1 | 63.0 | ||||
| Total risk-based capital |
3,130.9 | 3,129.2 | ||||
| Risk-weighted assets |
24,472.1 | 24,493.7 | ||||
| (Reference) Consolidated capital adequacy ratio (BIS standard) |
12.76 | % | 12.75 | % | ||
| Note: Corrections are underlined. | ||||||
| Mizuho Bank (Non-Consolidated) | <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
||||
| As of September 30, 2009 |
||||||
| Non-consolidated capital adequacy ratio (Domestic standard) |
13.01 | % | 12.99 | % | ||
| Tier 1 capital ratio |
7.65 | % | 7.64 | % | ||
| Tier 1 capital |
1,798.2 | 1,797.3 | ||||
| Tier 2 capital |
1,355.0 | 1,355.0 | ||||
| Deductions for total risk-based capital |
98.3 | 99.2 | ||||
| Total risk-based capital |
3,054.9 | 3,053.1 | ||||
| Risk-weighted assets |
23,480.7 | 23,502.3 | ||||
| (Reference) Non-consolidated capital adequacy ratio (BIS standard) |
12.95 | % | 12.93 | % | ||
| Note: Corrections are underlined. | ||||||
Status of Mizuho Financial Group’s consolidated capital adequacy
Consolidated capital adequacy ratio
Page 3:
(1) Summary table of consolidated capital adequacy ratio (BIS standard)
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) |
|||||||||
| As of September 30, 2009 |
||||||||||
| Tier 1 capital |
Less: 50% of excess of expected losses relative to eligible reserves by banks adopting internal ratings-based approach |
55.2 | 56.5 | |||||||
| Total of Tier 1 capital before deduction of deferred tax assets (total of the above items) |
5,148.7 | 5,147.4 | ||||||||
| Total |
(A) | 5,148.7 | 5,147.4 | |||||||
| Deductions for total risk-based capital |
Deductions for total risk-based capital |
(E) | 249.5 | 250.8 | ||||||
| Total risk-based capital |
(A)+(C)+(D)–(E) |
(F) | 7,632.6 | 7,630.0 | ||||||
| Risk-weighted assets |
Credit risk-weighted assets |
(G) | 53,802.2 | 53,869.9 | ||||||
| On-balance-sheet items |
44,019.0 | 44,084.7 | ||||||||
| Off-balance-sheet items |
9,783.1 | 9,785.2 | ||||||||
| Total [(G)+(H)+(J)+(L)] |
(M) | 59,102.3 | 59,170.0 | |||||||
| Consolidated capital adequacy ratio (BIS standard) = (F)/(M)×100 |
12.91 | % | 12.89 | % | ||||||
| Tier 1 capital ratio = (A)/(M)×100 |
8.71 | % | 8.69 | % | ||||||
Page 4: Notes :
<Before Correction>
4. The amounts of net deferred tax assets as of September 30, 2008 and 2009 were ¥841.0 billion and ¥615.1 billion, respectively, and the maximum amounts of deferred tax assets that can be recorded without diminishing the amount of Tier 1 capital for the purpose of calculating capital adequacy ratio as of September 30, 2008 and 2009 were ¥949.4 billion and ¥1,029.7 billion, respectively.
<After Correction>
4. The amounts of net deferred tax assets as of September 30, 2008 and 2009 were ¥841.0 billion and ¥615.1 billion, respectively, and the maximum amounts of deferred tax assets that can be recorded without diminishing the amount of Tier 1 capital for the purpose of calculating capital adequacy ratio as of September 30, 2008 and 2009 were ¥949.4 billion and ¥1,029.4 billion, respectively.
Note: Corrections are underlined.
Risk-based capital
Page 14:
(2) Required capital by portfolio classification
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| As of September 30, 2009 |
Required capital | Required capital | ||
| Credit risk |
5,973.0 | 5,981.0 | ||
| Internal ratings-based approach |
5,706.0 | 5,714.1 | ||
| Corporate (except specialized lending) |
3,436.0 | 3,444.0 | ||
| Securitizations |
74.1 | 74.2 | ||
| Total required capital (consolidated) |
4,728.1 | 4,733.6 | ||
| Note: Corrections are underlined. | ||||
Credit risk
(3) Credit risk exposure, etc.
Status of exposure to which the internal ratings-based approach is applied
Page 27:
(M) Portfolio by asset class and ratings segment (Corporate)
| <Before Correction> | (Billions of yen, except percentages) | |||||||||||
| LGD (EAD | EL default | Risk weight | EAD | |||||||||
| As of September 30, 2009 |
weighted average)(%) |
(EAD weighted average)(%) |
(EAD weighted average)(%) |
(Billions of yen) |
On-balance sheet | |||||||
| Corporate |
35.82 | n.a. | 51.68 | 54,862.3 | 40,452.0 | |||||||
| Investment grade zone |
36.67 | n.a. | 26.37 | 29,241.7 | 19,081.6 | |||||||
| Non-investment grade zone |
33.09 | n.a. | 83.46 | 23,778.9 | 19,608.8 | |||||||
| Default |
57.68 | 54.43 | 43.10 | 1,841.7 | 1,761.5 | |||||||
| Total |
37.90 | n.a. | 27.75 | 117,517.3 | 85,187.8 | |||||||
| Investment grade zone |
38.57 | n.a. | 11.47 | 90,684.4 | 63,009.3 | |||||||
| Non-investment grade zone |
33.86 | n.a. | 85.86 | 24,927.3 | 20,356.3 | |||||||
| Default |
58.93 | 55.74 | 42.29 | 1,905.5 | 1,822.1 | |||||||
| <After Correction> | (Billions of yen, except percentages) | |||||||||||
| LGD (EAD | EL default | Risk weight | EAD | |||||||||
| As of September 30, 2009 |
weighted average)(%) |
(EAD weighted average)(%) |
(EAD weighted average)(%) |
(Billions of yen) |
On-balance sheet | |||||||
| Corporate |
35.87 | n.a. | 51.80 | 54,862.3 | 40,452.0 | |||||||
| Investment grade zone |
36.67 | n.a. | 26.37 | 29,242.2 | 19,082.1 | |||||||
| Non-investment grade zone |
33.19 | n.a. | 83.73 | 23,778.3 | 19,608.3 | |||||||
| Default |
57.78 | 54.52 | 43.24 | 1,841.7 | 1,761.5 | |||||||
| Total |
37.92 | n.a. | 27.81 | 117,517.3 | 85,187.8 | |||||||
| Investment grade zone |
38.57 | n.a. | 11.48 | 90,684.9 | 63,009.8 | |||||||
| Non-investment grade zone |
33.95 | n.a. | 86.12 | 24,926.7 | 20,355.8 | |||||||
| Default |
59.03 | 55.83 | 42.43 | 1,905.5 | 1,822.1 | |||||||
| Note: Corrections are underlined. | ||||||||||||
Page 30:
(O) Actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2007 through September 30, 2008 |
Actual losses | Actual losses | ||
| Corporate |
786.9 | 934.9 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
28.9 | 28.9 | ||
| Residential mortgage |
83.2 | 83.2 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
42.2 | 42.2 | ||
| Total |
946.3 | 1,094.3 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2008 through September 30, 2009 |
Actual losses | Actual losses | ||
| Corporate |
1,006.3 | 1,066.1 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
37.5 | 37.5 | ||
| Residential mortgage |
124.7 | 93.6 | ||
| Qualifying revolving loans (retail) |
7.0 | 7.0 | ||
| Other retail |
53.1 | 43.5 | ||
| Total |
1,228.9 | 1,247.9 | ||
| Note: Corrections are underlined. |
||||
<Analysis>
<Before Correction>
Actual losses increased by ¥282.6 billion from the period from October 1, 2007 through September 30, 2008
to ¥1,228.9 billion in the period from October 1, 2008 through September 30, 2009.
<After Correction>
Actual losses increased by ¥153.6 billion from the period from October 1, 2007 through September 30, 2008
to ¥1,247.9 billion in the period from October 1, 2008 through September 30, 2009.
Note: Corrections are underlined.
(P) Comparison of estimated and actual losses by asset class
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2006 through September 30, 2007 |
Actual losses | Actual losses | ||
| Corporate |
1,022.4 | 1,094.0 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
3.7 | 3.7 | ||
| Residential mortgage |
95.3 | 95.3 | ||
| Qualifying revolving loans (retail) |
5.1 | 5.1 | ||
| Other retail |
52.5 | 52.5 | ||
| Total |
1,179.5 | 1,251.2 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2007 through September 30, 2008 |
Actual losses | Actual losses | ||
| Corporate |
786.9 | 934.9 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
28.9 | 28.9 | ||
| Residential mortgage |
83.2 | 83.2 | ||
| Qualifying revolving loans (retail) |
4.9 | 4.9 | ||
| Other retail |
42.2 | 42.2 | ||
| Total |
946.3 | 1,094.3 | ||
| Note: Corrections are underlined. |
||||
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| For the period from October 1, 2008 through September 30, 2009 |
Actual losses | Actual losses | ||
| Corporate |
1,006.3 | 1,066.1 | ||
| Sovereign |
0.0 | 0.0 | ||
| Bank |
37.5 | 37.5 | ||
| Residential mortgage |
124.7 | 93.6 | ||
| Qualifying revolving loans (retail) |
7.0 | 7.0 | ||
| Other retail |
53.1 | 43.5 | ||
| Total |
1,228.9 | 1,247.9 | ||
| Note: Corrections are underlined. |
||||
Methods for credit risk mitigation
Page 31:
(4) Credit risk mitigation by portfolio classification
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||||||||||
| As of September 30, 2009 |
Financial collateral |
Other collateral |
Guarantees | Total | Financial collateral |
Other collateral |
Guarantees | Total | ||||||||
| Internal ratings-based approach |
3,019.3 | 5,005.3 | 5,427.4 | 13,626.2 | 3,014.9 | 4,939.0 | 5,427.9 | 13,556.0 | ||||||||
| Corporate |
2,488.4 | 4,929.5 | 2,890.0 | 10,462.4 | 2,484.1 | 4,864.0 | 2,890.6 | 10,393.1 | ||||||||
| Sovereign |
0.5 | 26.5 | 1,482.5 | 1,509.6 | 0.5 | 25.7 | 1,482.5 | 1,508.8 | ||||||||
| Retail |
13.2 | 47.5 | 816.5 | 877.3 | 13.2 | 47.4 | 816.5 | 877.2 | ||||||||
| Other retail |
13.2 | 47.5 | 528.8 | 589.6 | 13.2 | 47.4 | 528.8 | 589.5 | ||||||||
| Total |
5,513.8 | 5,005.3 | 5,515.0 | 16,208.4 | 5,509.4 | 4,939.0 | 5,515.6 | 16,138.2 | ||||||||
| Note: Corrections are underlined. | ||||||||||||||||
Counterparty risk in derivatives transactions and long-settlement transactions
(5) Status of counterparty risk in derivatives transactions and long-settlement transactions
Page 33:
(B) Amounts of credit risk mitigation by type
| <Before Correction> (Billions of yen) |
<After Correction> (Billions of yen) | |||
| As of September 30, 2009 |
||||
| Other collateral |
72.5 | 72.4 | ||
| Total |
158.0 | 157.9 | ||
| Note: Corrections are underlined. | ||||
Securitization exposure
(6) Quantitative disclosure items for securitization exposure
Page 36:
(B) Information of securitization exposure retained or purchased
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||||||||
| As of September 30, 2009 |
Residential mortgage loans |
Total | Required capital |
Residential mortgage loans |
Total | Required capital | ||||||||
| Risk weight |
Up to 100% |
40.5 | 43.6 | 3.3 | — | 3.0 | 0.1 | |||||||
| Up to 250% |
— | 1.5 | 0.3 | 40.5 | 42.0 | 3.5 | ||||||||
| Total |
40.5 | 806.6 | 9.7 | 40.5 | 806.6 | 9.8 | ||||||||
Note: Corrections are underlined.
Market Risk
Outlier criteria
Page 41:
The following table shows results of calculations under the outlier framework.
| <Before Correction> | (Billions of yen) | <After Correction> | (Billions of yen) | |||||||||||
| Amount of loss |
Broadly-defined capital |
Loss ratio to capital |
Amount of loss |
Broadly-defined capital |
Loss ratio to capital |
|||||||||
| As of March 31, 2009 |
532.4 | 6,226.9 | 8.5 | % | 532.4 | 6,223.6 | 8.5 | % | ||||||
| As of September 30, 2009 |
695.3 | 7,632.6 | 9.1 | % | 695.3 | 7,630.0 | 9.1 | % | ||||||
Note: Corrections are underlined.