UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2015

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  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-                    .

 

 

 

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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:		July 31, 2015

 

		Consolidated Financial Statements for the First Quarter of Fiscal 2015 <Under Japanese GAAP>

 

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

 

Stock Code Number (Japan):		8411
Stock Exchange (Japan):		Tokyo Stock Exchange (First Section)
URL:		http://www.mizuho-fg.co.jp/english/
Representative:		Yasuhiro Sato		President & CEO
For Inquiry:		Yutaka Ueki		General Manager of Accounting		Phone:		+81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):				August 14, 2015		Trading Accounts:		Established
Commencement of Dividend Payment (scheduled):				—
Supplementary Materials on Quarterly Results:				Attached
IR Conference on Quarterly Results:				Not scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2015 (for the three months ended June 30, 2015)

(1) Consolidated Results of Operations

 

(%: Changes from the corresponding period of the previous fiscal year)
		Ordinary Income								Ordinary Profits								Profit Attributable to Owners of Parent
		¥ million				%				¥ million				%				¥ million				%
1Q F2015			796,953				13.0				264,069				14.7				158,017				2.1
1Q F2014			704,709				(10.1	)			230,039				(20.4	)			154,723				(37.5	)

 

Note:		Comprehensive Income: 1Q F2015: ¥184,795 million, (51.2)%; 1Q F2014 ¥378,900 million, 529.7%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock
		¥				¥
1Q F2015			6.41				6.22
1Q F2014			6.37				6.09

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
1Q F2015			191,841,095				9,370,377				4.2
Fiscal 2014			189,684,749				9,800,538				4.3

 

Reference:		Own Capital: As of June 30, 2015: ¥8,173,059 million; As of March 31, 2015: ¥8,161,121 million

Note:		Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Non-controlling Interests) / Total Assets × 100 Our Capital Ratio stated above was 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 2014			—				3.50				—				4.00				7.50
Fiscal 2015			—
Fiscal 2015 (estimate)							3.75				—				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 2015 (for the fiscal year ending March 31, 2016)

 

		(%: Changes from the corresponding period of the previous fiscal year)
						Profit Attributable to Owners of Parent								Net Income per Share of Common Stock
						¥ million				%				¥
1H F2015							—				—				—
Fiscal 2015							630,000				2.9				25.30

 

Notes:		1.		Revision of the latest announced earnings estimates for fiscal 2015: 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” and “the number of outstanding shares as of June 30, 2015 (which is assumed to be the average number of shares during the remaining term of fiscal 2015)” is used.
		•   It does not take into account any increase in the number of outstanding shares of common stock due to requests for acquisition (conversion) of the Eleventh Series Class XI Preferred Stock.

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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”), which is available in the Financial Information section of our web page at www.mizuho-fg.co.jp/english/ 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 2014			—				10.00				—				10.00				20.00
Fiscal 2015			—
Fiscal 2015 (estimate)							10.00				—				10.00				20.00

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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
		ø SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 2015

[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 “Accounting Standard for Business Combinations” and others)

MHFG has applied “Revised Accounting Standard for Business Combinations (ASBJ Statement No. 21, September 13, 2013) (hereinafter, the “Business Combinations Accounting Standard”), “Revised Accounting Standard for Consolidated Financial Statements (ASBJ Statement No. 22, September 13, 2013) (hereinafter, the “Consolidation Accounting Standard”), “Revised Accounting Standard for Business Divestitures” (ASBJ Statement No. 7, September 13, 2013) (hereinafter, the “Business Divestitures Accounting Standard” ) and other standards from the first quarter ended June 30, 2015. Accordingly, the accounting methods have been changed to record the difference arising from changes in equity in subsidiaries which MHFG continues to control as capital surplus, and to record business acquisition costs as expenses for the fiscal year in which incurred. In addition, regarding business combinations occurring on or after April 1, 2015, the accounting method has been changed to retroactively reflect adjustments to the amount allocated to acquisition costs arising from the finalization of the provisional accounting treatment on the consolidated financial statements of the period in which the business combination occurs. Furthermore, presentation of Net Income and others has been changed and presentation of Minority Interests has been changed to Non-controlling Interests. In order to reflect the changes in presentation of financial statements, reclassification was made accordingly in the quarterly consolidated financial statements for the three months ended June 30, 2014 and the consolidated financial statements for the fiscal year ended March 31, 2015.

The Business Combinations Accounting Standard and other standards have been applied in accordance with the transitional treatment set forth in Article 58-2 (3) of the Business Combinations Accounting Standard, Article 44-5 (3) of the Consolidation Accounting Standard and Article 57-4 (3) of the Business Divestitures Accounting Standard. The cumulative effects arising from the retroactive application of these new accounting policies to all the previous fiscal years were added to or deducted from capital surplus and retained earnings as of April 1, 2015.

As a result, Goodwill decreased by ¥48,063 million, Retained Earnings decreased by ¥48,999 million, and Capital Surplus increased by ¥935 million as of April 1, 2015. In addition, Ordinary Profits and Income before Income Taxes for the three months ended June 30, 2015 each increased by ¥728 million.

 

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, 2015				As of June 30, 2015
Assets
Cash and Due from Banks		¥	29,096,166			¥	32,210,436
Call Loans and Bills Purchased			444,115				473,424
Receivables under Resale Agreements			8,582,239				9,076,038
Guarantee Deposits Paid under Securities Borrowing Transactions			4,059,340				3,937,612
Other Debt Purchased			3,239,831				3,140,584
Trading Assets			10,781,735				12,010,968
Money Held in Trust			157,728				162,525
Securities			43,278,733				41,105,354
Loans and Bills Discounted			73,415,170				73,835,666
Foreign Exchange Assets			1,623,736				1,666,158
Derivatives other than for Trading Assets			3,544,243				3,048,977
Other Assets			4,066,424				3,764,810
Tangible Fixed Assets			1,078,051				1,075,225
Intangible Fixed Assets			657,556				656,484
Net Defined Benefit Asset			743,382				758,026
Deferred Tax Assets			36,938				36,426
Customers’ Liabilities for Acceptances and Guarantees			5,404,843				5,349,531
Reserves for Possible Losses on Loans			(525,486	)			(467,154	)
Reserve for Possible Losses on Investments			(2	)			(2	)
Total Assets		¥	189,684,749			¥	191,841,095

 

1-3

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Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2015				As of June 30, 2015
Liabilities
Deposits		¥	97,757,545			¥	99,510,391
Negotiable Certificates of Deposit			15,694,906				17,723,219
Call Money and Bills Sold			5,091,198				5,214,331
Payables under Repurchase Agreements			19,612,120				19,707,405
Guarantee Deposits Received under Securities Lending Transactions			2,245,639				2,297,514
Commercial Paper			538,511				333,696
Trading Liabilities			8,743,196				8,523,549
Borrowed Money			7,195,869				7,136,047
Foreign Exchange Liabilities			473,060				482,459
Short-term Bonds			816,705				816,010
Bonds and Notes			6,013,731				5,985,991
Due to Trust Accounts			1,780,768				1,337,318
Derivatives other than for Trading Liabilities			3,474,332				3,040,642
Other Liabilities			4,261,955				4,272,414
Reserve for Bonus Payments			59,869				17,004
Net Defined Benefit Liability			47,518				47,896
Reserve for Director and Corporate Auditor Retirement Benefits			1,527				1,453
Reserve for Possible Losses on Sales of Loans			13				78
Reserve for Contingencies			7,845				6,184
Reserve for Reimbursement of Deposits			15,851				14,507
Reserve for Reimbursement of Debentures			48,878				46,503
Reserves under Special Laws			1,607				1,753
Deferred Tax Liabilities			524,321				532,604
Deferred Tax Liabilities for Revaluation Reserve for Land			72,392				72,207
Acceptances and Guarantees			5,404,843				5,349,531
Total Liabilities		¥	179,884,211			¥	182,470,717
Net Assets
Common Stock and Preferred Stock		¥	2,255,404			¥	2,255,790
Capital Surplus			1,110,006				1,111,391
Retained Earnings			2,769,371				2,778,190
Treasury Stock			(3,616	)			(4,288	)
Total Shareholders’ Equity			6,131,166				6,141,083
Net Unrealized Gains (Losses) on Other Securities			1,737,348				1,773,174
Deferred Gains or Losses on Hedges			26,635				(3,122	)
Revaluation Reserve for Land			146,419				146,029
Foreign Currency Translation Adjustments			(40,454	)			(45,187	)
Remeasurements of Defined Benefit Plans			160,005				161,081
Total Accumulated Other Comprehensive Income			2,029,955				2,031,975
Stock Acquisition Rights			3,820				2,840
Non-Controlling Interests			1,635,595				1,194,477
Total Net Assets			9,800,538				9,370,377
Total Liabilities and Net Assets		¥	189,684,749			¥	191,841,095

 

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 three months ended June 30, 2014				For the three months ended June 30, 2015
Ordinary Income		¥	704,709			¥	796,953
Interest Income			342,102				352,996
Interest on Loans and Bills Discounted			224,619				233,262
Interest and Dividends on Securities			76,483				69,628
Fiduciary Income			10,592				11,425
Fee and Commission Income			147,126				175,692
Trading Income			61,282				51,042
Other Operating Income			76,665				121,710
Other Ordinary Income			66,940				84,085
Ordinary Expenses			474,670				532,883
Interest Expenses			78,138				97,020
Interest on Deposits			26,556				37,617
Fee and Commission Expenses			34,963				39,392
Trading Expenses			—				1,712
Other Operating Expenses			20,368				37,108
General and Administrative Expenses			318,736				331,319
Other Ordinary Expenses			22,462				26,330
Ordinary Profits			230,039				264,069
Extraordinary Gains			0				5,328
Extraordinary Losses			1,503				1,724
Income before Income Taxes			228,536				267,673
Income Taxes:
Current			53,098				67,098
Deferred			99				20,202
Total Income Taxes			53,197				87,300
Profit			175,338				180,372
Profit Attributable to Non-controlling Interests			20,614				22,355
Profit Attributable to Owners of Parent		¥	154,723			¥	158,017

 

1-5

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Mizuho Financial Group, Inc.

 

[Consolidated Statements of Comprehensive Income]

 

		Millions of yen
		For the three months ended June 30, 2014				For the three months ended June 30, 2015
Profit		¥	175,338			¥	180,372
Other Comprehensive Income			203,562				4,422
Net Unrealized Gains (Losses) on Other Securities			178,868				37,876
Deferred Gains or Losses on Hedges			22,959				(29,728	)
Revaluation Reserve for Land			—				(4	)
Foreign Currency Translation Adjustments			(1,293	)			(4,881	)
Remeasurements of Defined Benefit Plans			3,632				(565	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			(605	)			1,725
Comprehensive Income			378,900				184,795
(Breakdown)
Comprehensive Income Attributable to Owners of Parent			360,135				160,422
Comprehensive Income Attributable to Non-controlling Interests			18,765				24,372

 

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 First Quarter of Fiscal 2015

<Under Japanese GAAP>

 

 

 

Mizuho Financial Group, Inc.

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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 FIRST QUARTER OF FISCAL 2015		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

 

 

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”), which is available in the Financial Information section of our web page at www.mizuho-fg.co.jp/english/ 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 FIRST QUARTER OF FISCAL 2015

1. Income Analysis

Consolidated

 

						(Billions of yen)
						First Quarter of Fiscal 2015
										Change				First Quarter of Fiscal 2014
Consolidated Gross Profits			1				537.6				33.3				504.2
Net Interest Income			2				255.9				(7.9	)			263.9
Fiduciary Income			3				11.4				0.8				10.5
Credit Costs for Trust Accounts			4				—				—				—
Net Fee and Commission Income			5				136.2				24.1				112.1
Net Trading Income			6				49.3				(11.9	)			61.2
Net Other Operating Income			7				84.6				28.3				56.2
General and Administrative Expenses			8				(331.3	)			(12.5	)			(318.7	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans)			9				(7.5	)			(2.4	)			(5.0	)
Reversal of Reserves for Possible Losses on Loans, etc.			10				12.5				(23.7	)			36.3
Net Gains (Losses) related to Stocks			11				61.9				46.1				15.7
Equity in Income from Investments in Affiliates			12				1.0				(3.1	)			4.1
Other			13				(10.2	)			(3.4	)			(6.7	)
Ordinary Profits			14				264.0				34.0				230.0
Net Extraordinary Gains (Losses)			15				3.6				5.1				(1.5	)
Income before Income Taxes			16				267.6				39.1				228.5
Income Taxes			17				(87.3	)			(34.1	)			(53.1	)
Profit			18				180.3				5.0				175.3
Profit Attributable to Non-controlling Interests			19				(22.3	)			(1.7	)			(20.6	)
Profit Attributable to Owners of Parent			20				158.0				3.2				154.7
Credit-related Costs (including Credit Costs for Trust Accounts)			21				5.0				(26.2	)			31.3
* Credit-related Costs [21]  =     Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans) [9] + Reversal of Reserves for Possible Losses on Loans, etc. [10] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits			22				188.0				11.2				176.8
* Consolidated Net Business Profits [22] =     Consolidated Gross Profits [1] – General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments
Number of consolidated subsidiaries			23				148				(11	)			159
Number of affiliates under the equity method			24				23				2				21

 

2-1

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Mizuho Financial Group, Inc.

 

Non-Consolidated

Aggregate Figures for the 2 Banks

 

						(Billions of yen)
						First Quarter of Fiscal 2015																First Quarter of Fiscal 2014
						MHBK				MHTB				Aggregate Figures				Change
Gross Profits			1				356.7				31.0				387.8				17.3				370.5
Net Interest Income			2				208.9				11.2				220.2				(7.7	)			227.9
Fiduciary Income			3								11.5				11.5				1.0				10.4
Trust Fees for Jointly Operated Designated Money Trust			4								—				—				—				—
Credit Costs for Trust Accounts			5								—				—				—				—
Net Fee and Commission Income			6				84.5				3.4				88.0				11.2				76.7
Net Trading Income			7				(3.1	)			0.5				(2.5	)			(19.2	)			16.6
Net Other Operating Income			8				66.3				4.3				70.6				31.9				38.7
General and Administrative Expenses (excluding Non-Recurring Losses)			9				(212.9	)			(19.2	)			(232.1	)			(13.9	)			(218.2	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) *			10				143.8				11.8				155.6				3.3				152.3
Reversal of (Provision for) General Reserve for Possible Losses on Loans			11				—				—				—				—				—
Net Business Profits			12				143.8				11.8				155.6				3.3				152.3
Net Gains (Losses) related to Bonds			13				45.5				4.4				49.9				6.1				43.8
Net Non-Recurring Gains (Losses)			14				40.3				2.3				42.7				13.8				28.8
Net Gains (Losses) related to Stocks			15				51.4				1.9				53.3				41.5				11.7
Expenses related to Portfolio Problems			16				(6.3	)			(0.0	)			(6.3	)			(2.7	)			(3.5	)
Reversal of Reserves for Possible Losses on Loans, etc.			17				6.8				0.4				7.3				(27.4	)			34.7
Other			18				(11.5	)			(0.1	)			(11.6	)			2.5				(14.1	)
Ordinary Profits			19				184.2				14.1				198.4				17.1				181.2
Net Extraordinary Gains (Losses)			20				3.1				0.7				3.8				4.9				(1.0	)
Income before Income Taxes			21				187.3				14.9				202.3				22.1				180.1
Income Taxes			22				(70.2	)			(4.5	)			(74.8	)			(29.6	)			(45.1	)
Net Income			23				117.1				10.3				127.4				(7.5	)			135.0
* Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) of MHTB excludes the amounts of “Credit Costs for Trust Accounts” [5].
Credit-related Costs			24				0.4				0.4				0.9				(30.2	)			31.2
* Credit-related Costs [24] =    Expenses related to Portfolio Problems [16] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [11] + Reversal of Reserves for Possible Losses on Loans, etc. [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 Possible Losses on Loans			26				4.3				0.2				4.6				(12.3	)			17.0
Losses on Write-offs of Loans			27				(3.2	)			(0.0	)			(3.2	)			(4.7	)			1.5
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			28				(1.8	)			0.2				(1.6	)			(14.5	)			12.8
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			29				0.6				—				0.6				0.4				0.1
Reversal of (Provision for) Reserve for Contingencies			30				0.7				—				0.7				0.9				(0.1	)
Other (including Losses on Sales of Loans)			31				(0.1	)			—				(0.1	)			0.0				(0.1	)
Total			32				0.4				0.4				0.9				(30.2	)			31.2

 

2-2

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Mizuho Financial Group, Inc.

 

2. Net Gains/Losses on Stocks

Consolidated

 

		(Billions of yen)
		First Quarter of Fiscal 2015				Change				First Quarter of Fiscal 2014
Net Gains (Losses) related to Stocks			61.9				46.1				15.7
Gains on Sales			64.4				46.9				17.5
Losses on Sales			(2.3	)			(2.0	)			(0.3	)
Impairment (Devaluation)			(0.0	)			1.6				(1.7	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(0.1	)			(0.4	)			0.2

Non-Consolidated

Aggregate Figures for the 2 Banks

 

		First Quarter of Fiscal 2015				Change				First Quarter of Fiscal 2014
Net Gains (Losses) related to Stocks			53.3				41.5				11.7
Gains on Sales			55.4				43.9				11.5
Losses on Sales			(1.9	)			(1.8	)			(0.0	)
Impairment (Devaluation)			(0.0	)			(0.0	)			(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			(0.1	)			(0.4	)			0.2
Mizuho Bank
		First Quarter of Fiscal 2015				Change				First Quarter of Fiscal 2014
Net Gains (Losses) related to Stocks			51.4				41.4				9.9
Gains on Sales			53.3				43.6				9.6
Losses on Sales			(1.9	)			(1.8	)			(0.0	)
Impairment (Devaluation)			(0.0	)			(0.0	)			(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				(0.0	)			0.0
Gains (Losses) on Derivatives other than for Trading			0.0				(0.2	)			0.2
Mizuho Trust & Banking
		First Quarter of Fiscal 2015				Change				First Quarter of Fiscal 2014
Net Gains (Losses) related to Stocks			1.9				0.0				1.8
Gains on Sales			2.0				0.2				1.8
Losses on Sales			(0.0	)			(0.0	)			—
Impairment (Devaluation)			(0.0	)			0.0				(0.0	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			(0.1	)			(0.1	)			0.0

 

2-3

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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 June 30, 2015																As of March 31, 2015
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses
MHFG (Consolidated)
Other Securities			35,585.8				2,575.4				2,736.1				160.6				37,704.5				2,531.3				2,623.1				91.8
Japanese Stocks			4,298.7				2,360.3				2,376.7				16.3				4,121.9				2,158.9				2,187.3				28.4
Japanese Bonds			19,468.9				29.7				47.3				17.5				20,328.4				44.1				55.8				11.7
Japanese Government Bonds			16,481.8				15.3				20.9				5.5				17,415.7				22.6				24.0				1.3
Other			11,818.1				185.3				312.0				126.7				13,254.1				328.3				380.0				51.7
Foreign Bonds			8,497.3				(77.8	)			26.5				104.4				10,032.5				40.0				80.7				40.6

 

*	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 ¥58.9 billion and ¥52.0 billion, which were recognized in the statement of income for June 30, 2015 and March 31, 2015 respectively, by applying the fair-value hedge method.

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of June 30, 2015																As of March 31, 2015
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses
MHFG (Consolidated)			5,523.6				18.7				29.6				10.8				5,647.3				30.4				31.2				0.7

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities

 

		(Billions of yen)
		As of June 30, 2015																As of March 31, 2015
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses
MHBK
Other Securities			32,880.3				2,182.7				2,339.7				157.0				34,603.2				2,138.8				2,234.0				95.2
Japanese Stocks			3,921.3				2,115.6				2,133.1				17.4				3,762.8				1,933.2				1,966.6				33.4
Japanese Bonds			18,289.1				29.2				46.2				17.0				19,003.1				42.8				53.9				11.0
Japanese Government Bonds			15,595.1				14.8				20.2				5.3				16,338.4				21.4				22.6				1.2
Other			10,669.8				37.8				160.3				122.5				11,837.2				162.7				213.3				50.6
Foreign Bonds			8,102.1				(77.5	)			23.4				101.0				9,390.4				28.2				68.3				40.1
MHTB
Other Securities			1,475.9				171.0				177.0				5.9				1,863.6				174.5				177.7				3.2
Japanese Stocks			282.2				157.5				159.3				1.7				270.5				145.6				147.6				1.9
Japanese Bonds			831.7				0.3				0.8				0.5				974.0				1.1				1.7				0.5
Japanese Government Bonds			780.6				0.4				0.5				0.1				905.2				1.1				1.2				0.1
Other			361.9				13.1				16.9				3.7				619.0				27.6				28.3				0.7
Foreign Bonds			189.4				(1.4	)			1.7				3.1				438.1				10.1				10.5				0.3
Total
Other Securities			34,356.3				2,353.7				2,516.8				163.0				36,466.8				2,313.3				2,411.7				98.4
Japanese Stocks			4,203.5				2,273.1				2,292.4				19.2				4,033.3				2,078.8				2,114.3				35.4
Japanese Bonds			19,120.9				29.6				47.1				17.5				19,977.2				44.0				55.6				11.6
Japanese Government Bonds			16,375.7				15.3				20.8				5.5				17,243.6				22.5				23.9				1.3
Other			11,031.7				50.9				177.2				126.3				12,456.3				190.3				241.7				51.3
Foreign Bonds			8,291.6				(79.0	)			25.1				104.1				9,828.5				38.3				78.8				40.5

 

*	In addition to securities, NCDs 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 date above.

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

*	Unrealized Gains/Losses include ¥58.9 billion and ¥52.0 billion, which were recognized as Income/Loss for June 30, 2015 and March 31, 2015 respectively, by applying the fair-value hedge method.

 

2-4

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Mizuho Financial Group, Inc.

 

(2) Bonds Held to Maturity

 

		(Billions of yen)
		As of June 30, 2015																As of March 31, 2015
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses
MHBK			5,523.6				18.7				29.6				10.8				5,647.3				30.4				31.2				0.7
MHTB			—				—				—				—				—				—				—				—
Total			5,523.6				18.7				29.6				10.8				5,647.3				30.4				31.2				0.7
(3) Investments in Subsidiaries and Affiliates
		(Billions of yen)
		As of June 30, 2015																As of March 31, 2015
		Book Value				Unrealized Gains/Losses												Book Value				Unrealized Gains/Losses
										Gains				Losses												Gains				Losses
MHBK			118.3				220.9				220.9				—				118.3				159.5				159.5				—
MHTB			—				—				—				—				—				—				—				—
Total			118.3				220.9				220.9				—				118.3				159.5				159.5				—

(Reference)

Unrealized Gains/Losses on Other Securities

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

For certain Other Securities, Unrealized Gains/Losses were recognized as Income/Loss by applying the fair-value hedge method. They were excluded from Unrealized Gains/Losses on Other Securities. These adjusted Unrealized Gains/Losses were the base amount, which was to be recorded directly to Net Assets after tax and other necessary adjustments. The base amount is as follows:

Consolidated

 

		(Billions of yen)
		As of June 30, 2015								As of March 31, 2015
		Unrealized Gains/Losses								Unrealized Gains/Losses
						Change
Other Securities			2,516.4				37.1				2,479.3
Japanese Stocks			2,326.6				194.4				2,132.1
Japanese Bonds			29.7				(14.3	)			44.1
Japanese Government Bonds			15.3				(7.2	)			22.6
Other			160.0				(142.9	)			303.0
Foreign Bonds			(103.1	)			(117.8	)			14.7
Non-Consolidated   Aggregate Figures for the 2 Banks
		(Billions of yen)
		As of June 30, 2015								As of March 31, 2015
		Unrealized Gains/Losses								Unrealized Gains/Losses
						Change
Other Securities			2,294.8				33.5				2,261.2
Japanese Stocks			2,239.5				187.4				2,052.1
Japanese Bonds			29.6				(14.4	)			44.0
Japanese Government Bonds			15.3				(7.2	)			22.5
Other			25.6				(139.4	)			165.0
Foreign Bonds			(104.3	)			(117.3	)			13.0

 

2-5

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Mizuho Financial Group, Inc.

 

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

Non-Consolidated

Aggregate Figures for the 2 Banks

 

		(Billions of yen)
		As of June 30, 2015												As of March 31, 2015
		Deferred Hedge Gains/Losses												Deferred Hedge Gains/Losses
		Gains				Losses								Gains				Losses
MHBK			592.7				652.3				(59.5	)			642.2				652.3				(10.0	)
MHTB			87.7				92.9				(5.1	)			90.8				93.2				(2.4	)
Total			680.5				745.2				(64.6	)			733.1				745.6				(12.5	)

 

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 June 30, 2015								As of March 31, 2015
Consolidated						Change
Claims against Bankrupt and Substantially Bankrupt Obligors			72.4				(4.9	)			77.3
Claims with Collection Risk			393.7				(10.5	)			404.2
Claims for Special Attention			537.8				(80.5	)			618.4
Total			1,004.0				(95.9	)			1,100.0
Trust Account
Claims against Bankrupt and Substantially Bankrupt Obligors			—				—				—
Claims with Collection Risk			2.9				(0.0	)			2.9
Claims for Special Attention			—				—				—
Total			2.9				(0.0	)			2.9
Total (Consolidated + Trust Account)
Claims against Bankrupt and Substantially Bankrupt Obligors			72.4				(4.9	)			77.3
Claims with Collection Risk			396.7				(10.5	)			407.2
Claims for Special Attention			537.8				(80.5	)			618.4
Total			1,007.0				(95.9	)			1,103.0

 

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

 

		(Billions of yen, %)
Total (Banking Account + Trust Account)		As of June 30, 2015								As of March 31, 2015
						Change
Claims against Bankrupt and Substantially Bankrupt Obligors			52.0				(4.5	)			56.6
Claims with Collection Risk			393.7				(8.8	)			402.5
Claims for Special Attention			462.8				(80.0	)			542.9
Sub-total [1]			908.7				(93.4	)			1,002.1
NPL ratio [1]/[2]			1.09	%			(0.11	)%			1.20	%
Normal Claims			82,158.7				117.7				82,041.0
Total [2]			83,067.4				24.2				83,043.1
MHBK
Claims against Bankrupt and Substantially Bankrupt Obligors			50.9				(4.5	)			55.4
Claims with Collection Risk			382.9				(8.5	)			391.5
Claims for Special Attention			454.4				(80.2	)			534.7
Sub-total [3]			888.4				(93.3	)			981.7
NPL ratio [3]/[4]			1.11	%			(0.11	)%			1.22	%
Normal Claims			79,038.2				138.2				78,899.9
Total [4]			79,926.6				44.9				79,881.7
MHTB
Banking Account
Claims against Bankrupt and Substantially Bankrupt Obligors			1.1				(0.0	)			1.1
Claims with Collection Risk			7.7				(0.2	)			8.0
Claims for Special Attention			8.3				0.2				8.1
Sub-total [5]			17.3				(0.1	)			17.4
NPL ratio [5]/[6]			0.55	%			(0.00	)%			0.55	%
Normal Claims			3,108.5				(19.5	)			3,128.0
Total [6]			3,125.8				(19.6	)			3,145.4
Trust Account
Claims against Bankrupt and Substantially Bankrupt Obligors			—				—				—
Claims with Collection Risk			2.9				(0.0	)			2.9
Claims for Special Attention			—				—				—
Sub-total [7]			2.9				(0.0	)			2.9
NPL ratio [7]/[8]			19.98	%			1.30	%			18.68	%
Normal Claims			11.9				(1.0	)			13.0
Total [8]			14.9				(1.0	)			16.0

 

Notes:

1. Trust Account denotes trust accounts with contracts indemnifying the principal amounts.

2. NPL: Non-Performing Loans

 

2-8

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Mizuho Financial Group, Inc.

 

6. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks

 

		(Billions of yen)
		As of June 30, 2015								As of March 31, 2015
						Change
MHBK			95,032.1				1,503.7				93,528.3
MHTB			2,757.3				120.2				2,637.0
Total			97,789.4				1,624.0				96,165.3
(1)-2 Domestic Deposits
Aggregate Figures for the 2 Banks
		(Billions of yen)
		As of June 30, 2015								As of March 31, 2015
						Change
MHBK			79,115.7				(112.6	)			79,228.3
Individual deposits			39,102.7				763.3				38,339.3
MHTB			2,755.1				131.1				2,623.9
Individual deposits			1,128.9				(18.1	)			1,147.1
Total			81,870.8				18.5				81,852.3
Individual deposits			40,231.6				745.1				39,486.5
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 June 30, 2015								As of March 31, 2015
						Change
MHBK			71,115.3				241.4				70,873.8
MHTB			3,082.4				14.0				3,068.4
Total			74,197.8				255.5				73,942.2

 

Note: Loans to MHFG are included as follows:

As of June 30, 2015:    ¥661.2 billion (from MHBK)

As of March 31, 2015: ¥700.1 billion (from MHBK)

(3) Interest Margins (Domestic Operations)

Mizuho Bank

 

				(%)
				First Quarter of Fiscal 2015 (For the three months)				Change				First Quarter of Fiscal 2014 (For the three months)
Return on Loans and Bills Discounted		1			1.00				(0.05	)			1.05
Cost of Deposits		2			0.04				(0.00	)			0.04
Loan and Deposit Rate Margin [1]-[2]		3			0.96				(0.05	)			1.01

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			1.07				(0.09	)			1.17
Loan and Deposit Rate Margin [4]-[2]		5			1.03				(0.09	)			1.13

Mizuho Trust & Banking

 

				(%)
				First Quarter of Fiscal 2015 (For the three months)				Change				First Quarter of Fiscal 2014 (For the three months)
Return on Loans and Bills Discounted		6			0.93				(0.08	)			1.02
Cost of Deposits		7			0.07				(0.00	)			0.07
Loan and Deposit Rate Margin [6]-[7]		8			0.85				(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		9			0.93				(0.10	)			1.03
Loan and Deposit Rate Margin [9]-[7]		10			0.85				(0.10	)			0.96

(Reference)

Aggregate Figures for the 2 Banks

 

				(%)
				First Quarter of Fiscal 2015 (For the three months)				Change				First Quarter of Fiscal 2014 (For the three months)
Return on Loans and Bills Discounted		11			0.99				(0.05	)			1.05
Cost of Deposits		12			0.04				(0.00	)			0.04
Loan and Deposit Rate Margin [11]-[12]		13			0.95				(0.05	)			1.01

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			1.06				(0.09	)			1.16
Loan and Deposit Rate Margin [14]-[12]		15			1.02				(0.09	)			1.12

 

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