Edgar Filing: MIZUHO FINANCIAL GROUP INC

Form 6-K

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 November 2018

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

Form 20-F ☒ Form 40-F ☐

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

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

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

Yes ☐ No ☒

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

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NO. 333-213187) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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: November 14, 2018

Mizuho Financial Group, Inc.

By:		/s/ Makoto Umemiya
Name:		Makoto Umemiya
Title:		Managing Executive Officer / Group CFO

For Immediate Release:

Consolidated Financial Statements for the Second Quarter of Fiscal 2018

(Six months ended September 30, 2018)

<Under Japanese GAAP>


Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		November 14, 2018



Stock Code Number (Japan):	8411
Stock Exchange Listings:	Tokyo Stock Exchange (First Section), New York Stock Exchange
URL:	https://www.mizuho-fg.com/index.html
Representative:	Tatsufumi Sakai	President & CEO
For Inquiry:	Masahiro Kosugi	Executive Officer, General Manager of Accounting	Phone: +81-3-6838-6101
Filing of Shihanki Hokokusho (scheduled):		November 28, 2018	Trading Accounts: Established
Commencement of Dividend Payment (scheduled):		December 6, 2018
Supplementary Materials on Quarterly Results:		Attached
IR Conference on Quarterly Results:		Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2018 (for the six months ended September 30, 2018)

(1) Consolidated Results of Operations


	(%: Changes from the previous first half)
	Ordinary Income				Ordinary Profits				Profit Attributable to Owners of Parent
	¥ million		%		¥ million		%		¥ million		%
1H F2018		1,994,087		12.9		466,912		8.2		359,360		13.4
1H F2017		1,764,841		12.8		431,306		2.4		316,645		(11.5	)


Note:		Comprehensive Income: 1H F2018: ¥235,972 million, (45.3)%; 1H F2017: ¥431,894 million, 116.1%


	Net Income per Share of Common Stock		Diluted Net Income per Share of Common Stock
	¥		¥
1H F2018		14.16		14.16
1H F2017		12.48		12.47

(2) Consolidated Financial Conditions


	Total Assets		Total Net Assets		Own Capital Ratio
	¥ million		¥ million		%
1H F2018		207,560,759		9,672,610		4.4
Fiscal 2017		205,028,300		9,821,246		4.4


Reference:		Own Capital: As of September 30, 2018: ¥9,197,389 million; As of March 31, 2018: ¥9,065,843 million

Note:

Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Non-controlling Interests) / Total Assets ×100

Own Capital Ratio stated above is not calculated based on the public notice of Own Capital Ratio.

2. Cash Dividends for Shareholders of Common Stock


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


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

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


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


Notes:	1.	Revision of the latest announced earnings estimates for fiscal 2018: No
	2.	The number of shares of common stock used in the above per share information is based on the weighted average of the average number of shares during 1H and the number of outstanding shares as of September 30, 2018 (which is used as a proxy for the average number of shares during the remainder of the relevant period).

* Notes

(1)

Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation): No

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

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

② Changes in accounting policies other than ① above: No

③ Changes in accounting estimates: No

④ Restatements: No

(3) Issued Shares of Common Stock

① Period-end issued shares (including treasury stock):

As of September 30, 2018

25,392,498,945 shares

As of March 31, 2018

25,389,644,945 shares

② Period-end treasury stock:

As of September 30, 2018

34,314,755 shares

As of March 31, 2018

24,829,446 shares

③ Average outstanding shares:

1st Half Fiscal 2018

25,363,166,750 shares

1st Half Fiscal 2017

25,366,346,742 shares

This immediate release is outside the scope of semi-annual audit by certified public accountants or audit firms.

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.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.

MHFG is a specified business company under “Cabinet Office Ordinance on Disclosure of Corporate Information, etc.” Article 17-15 clause 2 and prepares the interim consolidated financial statements in the second quarter.

Mizuho Financial Group, Inc.

m Contents of Attachment


1.	Interim Consolidated Financial Statements and Others	p.1-2
	(1) Consolidated Balance Sheets	p.1-2
	(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	p.1-4
	(3) Consolidated Statements of Changes in Net Assets	p.1-6
	(4) Note for Assumption of Going Concern	p.1-7
	øSELECTED FINANCIAL INFORMATION For the Second Quarter (First Half) of Fiscal 2018

[Note to XBRL]

Please note that the names of the English accounts contained in XBRL data, which are available through EDINET and TDNet, may be different from those of the English accounts in our financial statements.

An MHFG IR conference for institutional investors and analysts is scheduled for November 20, 2018 (Tuesday). The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group HP immediately after the conference.

1-1

Mizuho Financial Group, Inc.

1. Interim Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets


	*Millions of yen*
	As of March 31, 2018			As of September 30, 2018
Assets
Cash and Due from Banks	¥	47,725,360		¥	46,579,445
Call Loans and Bills Purchased		715,149			336,548
Receivables under Resale Agreements		8,080,873			10,275,017
Guarantee Deposits Paid under Securities Borrowing Transactions		4,350,527			2,709,640
Other Debt Purchased		2,713,742			2,577,593
Trading Assets		10,507,133			12,274,307
Money Held in Trust		337,429			409,725
Securities		34,183,033			34,975,299
Loans and Bills Discounted		79,421,473			80,516,017
Foreign Exchange Assets		1,941,677			2,229,807
Derivatives other than for Trading Assets		1,807,999			1,428,605
Other Assets		4,588,484			4,342,091
Tangible Fixed Assets		1,111,128			1,093,635
Intangible Fixed Assets		1,092,708			1,074,255
Net Defined Benefit Asset		996,173			983,445
Deferred Tax Assets		47,839			42,924
Customers’ Liabilities for Acceptances and Guarantees		5,723,186			5,964,576
Reserves for Possible Losses on Loans		(315,621	)		(252,177	)

Total Assets	¥	205,028,300		¥	207,560,759

1-2

Mizuho Financial Group, Inc.


	*Millions of yen*
	As of March 31, 2018			As of September 30, 2018
Liabilities
Deposits	¥	125,081,233		¥	120,819,088
Negotiable Certificates of Deposit		11,382,590			12,500,325
Call Money and Bills Sold		2,105,293			5,736,053
Payables under Repurchase Agreements		16,656,828			17,488,448
Guarantee Deposits Received under Securities Lending Transactions		1,566,833			1,838,150
Commercial Paper		710,391			683,390
Trading Liabilities		8,121,543			7,682,367
Borrowed Money		4,896,218			4,817,339
Foreign Exchange Liabilities		445,804			473,194
Short-term Bonds		362,185			303,302
Bonds and Notes		7,544,256			8,696,783
Due to Trust Accounts		4,733,131			4,725,740
Derivatives other than for Trading Liabilities		1,514,483			1,397,924
Other Liabilities		3,685,585			4,174,229
Reserve for Bonus Payments		66,872			49,284
Reserve for Variable Compensation		3,242			1,500
Net Defined Benefit Liability		58,890			59,466
Reserve for Director and Corporate Auditor Retirement Benefits		1,460			1,308
Reserve for Possible Losses on Sales of Loans		1,075			1,153
Reserve for Contingencies		5,622			4,750
Reserve for Reimbursement of Deposits		20,011			19,802
Reserve for Reimbursement of Debentures		30,760			28,197
Reserves under Special Laws		2,361			2,358
Deferred Tax Liabilities		421,002			353,680
Deferred Tax Liabilities for Revaluation Reserve for Land		66,186			65,732
Acceptances and Guarantees		5,723,186			5,964,576

Total Liabilities	¥	195,207,054		¥	197,888,149

Net Assets
Common Stock	¥	2,256,548		¥	2,256,767
Capital Surplus		1,134,922			1,138,434
Retained Earnings		4,002,835			4,268,037
Treasury Stock		(5,997	)		(7,888	)

Total Shareholders’ Equity		7,388,309			7,655,351

Net Unrealized Gains (Losses) on Other Securities		1,392,392			1,335,533
Deferred Gains or Losses on Hedges		(67,578	)		(123,418	)
Revaluation Reserve for Land		144,277			143,248
Foreign Currency Translation Adjustments		(85,094	)		(90,790	)
Remeasurements of Defined Benefit Plans		293,536			277,466

Total Accumulated Other Comprehensive Income		1,677,534			1,542,038

Stock Acquisition Rights		1,163			714
Non-Controlling Interests		754,239			474,506

Total Net Assets		9,821,246			9,672,610

Total Liabilities and Net Assets	¥	205,028,300		¥	207,560,759

1-3

Mizuho Financial Group, Inc.

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

[Consolidated Statements of Income]


	*Millions of yen*
	For the six months ended September 30, 2017			For the six months ended September 30, 2018
Ordinary Income	¥	1,764,841		¥	1,994,087
Interest Income		797,177			994,826
Interest on Loans and Bills Discounted		494,710			604,086
Interest and Dividends on Securities		142,667			163,560
Fiduciary Income		27,690			28,023
Fee and Commission Income		344,211			366,778
Trading Income		130,953			156,449
Other Operating Income		177,376			178,133
Other Ordinary Income		287,431			269,875
Ordinary Expenses		1,333,535			1,527,175
Interest Expenses		389,759			586,633
Interest on Deposits		152,774			217,934
Fee and Commission Expenses		80,493			81,850
Other Operating Expenses		47,347			44,155
General and Administrative Expenses		733,194			717,467
Other Ordinary Expenses		82,740			97,067

Ordinary Profits		431,306			466,912

Extraordinary Gains		2,164			10,271
Extraordinary Losses		4,388			3,551

Income before Income Taxes		429,082			473,632

Income Taxes:
Current		107,634			116,078
Deferred		(12,364	)		(14,319	)

Total Income Taxes		95,270			101,759

Profit		333,812			371,872

Profit Attributable to Non-controlling Interests		17,166			12,511

Profit Attributable to Owners of Parent	¥	316,645		¥	359,360

1-4

Mizuho Financial Group, Inc.

[Consolidated Statements of Comprehensive Income]


	*Millions of yen*
	For the six months ended September 30, 2017			For the six months ended September 30, 2018
Profit	¥	333,812		¥	371,872
Other Comprehensive Income		98,082			(135,899	)
Net Unrealized Gains (Losses) on Other Securities		118,017			(58,557	)
Deferred Gains or Losses on Hedges		(17,318	)		(55,862	)
Revaluation Reserve for Land		(2	)		—
Foreign Currency Translation Adjustments		(161	)		(3,401	)
Remeasurements of Defined Benefit Plans		8,116			(15,346	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		(10,569	)		(2,732	)

Comprehensive Income		431,894			235,972

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		416,654			224,894
Comprehensive Income Attributable to Non-controlling Interests		15,240			11,078

1-5

Mizuho Financial Group, Inc.

(3) Consolidated Statements of Changes in Net Assets

For the six months ended September 30, 2017


	*Millions of yen*
	Shareholders’ Equity
	Common Stock		Capital Surplus			Retained Earnings			Treasury Stock			Total Shareholders’ Equity
Balance as of the beginning of the period		2,256,275		1,134,416			3,615,449			(4,849	)		7,001,291
Changes during the period
Issuance of New Shares		273		273									546
Cash Dividends							(95,173	)					(95,173	)
Profit Attributable to Owners of Parent							316,645						316,645
Repurchase of Treasury Stock										(2,447	)		(2,447	)
Disposition of Treasury Stock				(43	)					821			778
Transfer from Revaluation Reserve for Land							788						788
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders				122									122
Net Changes in Items other than Shareholders’ Equity
Total Changes during the period		273		352			222,260			(1,625	)		221,260

Balance as of the end of the period		2,256,548		1,134,768			3,837,710			(6,475	)		7,222,552


	Accumulated Other Comprehensive Income															Stock Acquisition Rights			Non- Controlling Interests		Total Net Assets
	Net Unrealized Gains (Losses) on Other Securities		Deferred Gains or Losses on Hedges			Revaluation Reserve for Land			Foreign Currency Translation Adjustments			Remeasurements of Defined Benefit Plans		Total Accumulated Other Comprehensive Income		Stock Acquisition Rights			Non- Controlling Interests		Total Net Assets
Balance as of the beginning of the period		1,289,985		10,172			145,609			(69,657	)		144,866		1,520,976		1,754			749,339		9,273,361
Changes during the period
Issuance of New Shares																						546
Cash Dividends																						(95,173	)
Profit Attributable to Owners of Parent																						316,645
Repurchase of Treasury Stock																						(2,447	)
Disposition of Treasury Stock																						778
Transfer from Revaluation Reserve for Land																						788
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders																						122
Net Changes in Items other than Shareholders’ Equity		119,780		(17,886	)		(791	)		(5,922	)		4,039		99,220		(580	)		487		99,127
Total Changes during the period		119,780		(17,886	)		(791	)		(5,922	)		4,039		99,220		(580	)		487		320,388

Balance as of the end of the period		1,409,766		(7,714	)		144,817			(75,579	)		148,906		1,620,196		1,173			749,827		9,593,750

1-6

Mizuho Financial Group, Inc.

For the six months ended September 30, 2018


	*Millions of yen*
	Shareholders’ Equity
	Common Stock		Capital Surplus			Retained Earnings			Treasury Stock			Total Shareholders’ Equity
Balance as of the beginning of the period		2,256,548		1,134,922			4,002,835			(5,997	)		7,388,309
Changes during the period
Issuance of New Shares		218		218									437
Cash Dividends							(95,186	)					(95,186	)
Profit Attributable to Owners of Parent							359,360						359,360
Repurchase of Treasury Stock										(2,856	)		(2,856	)
Disposition of Treasury Stock				(15	)					965			950
Transfer from Revaluation Reserve for Land							1,028						1,028
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders				3,307									3,307
Net Changes in Items other than Shareholders’ Equity
Total Changes during the period		218		3,511			265,202			(1,891	)		267,041

Balance as of the end of the period		2,256,767		1,138,434			4,268,037			(7,888	)		7,655,351


	Accumulated Other Comprehensive Income
	Net Unrealized Gains (Losses) on Other Securities			Deferred Gains or Losses on Hedges			Revaluation Reserve for Land			Foreign Currency Translation Adjustments			Remeasurements of Defined Benefit Plans			Total Accumulated Other Comprehensive Income			Stock Acquisition Rights			Non- Controlling Interests			Total Net Assets
Balance as of the beginning of the period		1,392,392			(67,578	)		144,277			(85,094	)		293,536			1,677,534			1,163			754,239			9,821,246
Changes during the period
Issuance of New Shares																										437
Cash Dividends																										(95,186	)
Profit Attributable to Owners of Parent																										359,360
Repurchase of Treasury Stock																										(2,856	)
Disposition of Treasury Stock																										950
Transfer from Revaluation Reserve for Land																										1,028
Change in Treasury Shares of Parent Arising from Transactions with Non-controlling Shareholders																										3,307
Net Changes in Items other than Shareholders’ Equity		(56,859	)		(55,840	)		(1,028	)		(5,696	)		(16,070	)		(135,495	)		(449	)		(279,732	)		(415,678	)
Total Changes during the period		(56,859	)		(55,840	)		(1,028	)		(5,696	)		(16,070	)		(135,495	)		(449	)		(279,732	)		(148,636	)

Balance as of the end of the period		1,335,533			(123,418	)		143,248			(90,790	)		277,466			1,542,038			714			474,506			9,672,610

(4) Note for Assumption of Going Concern

There is no applicable information.

1-7

SELECTED FINANCIAL INFORMATION

For the Second Quarter (First Half) of Fiscal 2018

(Six months ended September 30, 2018)

<Under Japanese GAAP>

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

“CON”: Consolidated figures for Mizuho Financial Group, Inc. (“MHFG”)

“NON”: Non-consolidated figures for Mizuho Financial Group, Inc., Mizuho Bank, Ltd. (“MHBK”) and Mizuho Trust & Banking Co., Ltd. (“MHTB”)

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2018

See above Notes

Page

1. Income Analysis

CON

NON

2-1

2. Interest Margins (Domestic Operations)

NON

2-5

3. Use and Source of Funds

NON

2-6

4. Net Gains/Losses on Securities

CON

NON

2-7

5. Unrealized Gains/Losses on Securities

CON

NON

2-9

6. Projected Redemption Amounts for Securities

NON

2-11

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

NON

2-12

8. Employee Retirement Benefits

NON

CON

2-13

9. Capital Ratio

CON

NON

2-15

II. REVIEW OF CREDITS

See above Notes

Page

1. Status of Non-Accrual, Past Due & Restructured Loans

CON

NON

2-16

2. Status of Reserves for Possible Losses on Loans

CON

NON

2-18

3. Reserve Ratios for Non-Accrual, Past Due & Restructured Loans

CON

NON

2-19

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

CON

NON

2-20

5. Coverage on Disclosed Claims under the FRA

NON

2-22

6. Overview of Non-Performing Loans(“NPLs”)

NON

2-24

7. Results of Removal of NPLs from the Balance Sheet

NON

2-25

8. Status of Loans by Industry

(1) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Industry

NON

2-26

(2) Disclosed Claims under the FRA and Coverage Ratio by Industry

NON

2-28

9. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises (“SMEs”) and Individual Customers

(1) Balance of Housing and Consumer Loans

NON

2-29

(2) Loans to SMEs and Individual Customers

NON

2-29

10. Status of Loans by Region

NON

2-30

III. DEFERRED TAXES

See above Notes

Page

1. Estimation for Calculating Deferred Tax Assets

NON

2-31

IV. OTHERS

See above Notes

Page

1. Breakdown of Deposits (Domestic Offices)

NON

2-33

2. Number of Directors and Employees

2-34

3. Number of Offices

2-34

4. Earnings Plan for Fiscal 2018

CON

NON

2-35

Attachments

Page

Mizuho Bank, Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-36

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

2-37

Mizuho Trust & Banking Co., Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-38

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

2-39

Statement of Trust Assets and Liabilities

2-40

Comparison of Balances of Principal Items

2-41

Mizuho Securities Co., Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-42

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

2-43

Mizuho Financial Group, Inc.

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2018

1. Income Analysis

Consolidated


		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of Fiscal 2017
					Change			First Half of Fiscal 2017
Consolidated Gross Profits	1		1,011,571			51,761			959,809
Net Interest Income	2		408,193			774			407,418
Fiduciary Income	3		28,023			332			27,690
Credit Costs for Trust Accounts	4		—			—			—
Net Fee and Commission Income	5		284,927			21,209			263,717
Net Trading Income	6		156,449			25,496			130,953
Net Other Operating Income	7		133,978			3,948			130,029
General and Administrative Expenses	8		(717,467	)		15,727			(733,194	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Losses on Loans)	9		(20,812	)		(11,107	)		(9,704	)
Losses on Write-offs of Loans	10		*(17,942*	)		(8,197	)		(9,744	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	11		50,609			(87,164	)		137,773
Net Gains (Losses) related to Stocks	12		149,981			42,054			107,926
Equity in Income from Investments in Affiliates	13		19,397			8,843			10,553
Other	14		(26,368	)		15,490			(41,858	)

Ordinary Profits	15		466,912			35,606			431,306

Net Extraordinary Gains (Losses)	16		6,719			8,943			(2,223	)
Income before Income Taxes	17		473,632			44,549			429,082
Income Taxes—Current	18		(116,078	)		(8,444	)		(107,634	)
—Deferred	19		14,319			1,954			12,364
Profit	20		371,872			38,060			333,812
Profit Attributable to Non-controlling Interests	21		(12,511	)		4,654			(17,166	)

Profit Attributable to Owners of Parent	22		359,360			42,715			316,645


Credit-related Costs (including Credit Costs for Trust Accounts)	23		29,797			(98,271	)		128,068

* Credit-related Costs [23] = 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 [11] + Credit Costs for Trust Accounts [4]

(Reference)
Consolidated Net Business Profits	24		291,036			49,387			241,649

* Consolidated Net Business Profits [24] = 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	25		125			(5	)		130
Number of affiliates under the equity method	26		19			—			19

2-1

Mizuho Financial Group, Inc.

Aggregate Figures for the 2 Banks

Non-Consolidated


		*(Millions of yen)*
		First Half of Fiscal 2018												First Half
		MHBK			MHTB			Aggregate Figures			Change			of Fiscal 2017
Gross Profits	1		637,022			58,282			695,305			35,124			660,181
Domestic Gross Profits	2		361,024			57,358			418,382			(7,754	)		426,137
Net Interest Income	3		237,317			12,153			249,471			(4,320	)		253,792
Fiduciary Income	4					27,593			27,593			(22	)		27,616
Trust Fees for Jointly Operated Designated Money Trust	5					*1,915*			*1,915*			190			1,724
Credit Costs for Trust Accounts *	6					—			—			—			—
Net Fee and Commission Income	7		108,914			13,679			122,593			13,662			108,930
Net Trading Income	8		2,759			1,077			3,836			(8,807	)		12,644
Net Other Operating Income	9		12,033			2,853			14,886			(8,265	)		23,152
International Gross Profits	10		275,998			924			276,922			42,878			234,044
Net Interest Income	11		109,616			1,535			111,152			5,354			105,798
Net Fee and Commission Income	12		66,778			(375	)		66,402			9,931			56,470
Net Trading Income	13		26,419			(62	)		26,356			13,876			12,480
Net Other Operating Income	14		73,184			(173	)		73,010			13,716			59,294
General and Administrative Expenses (excluding Non-Recurring Losses)	15		(435,555	)		(41,223	)		(476,778	)		2,665			(479,444	)
Expense Ratio	16		*68.3*	%		*70.7*	%		*68.5*	%		(4.0	%)		72.6	%
Personnel Expenses	17		(170,034	)		(19,886	)		(189,920	)		2,764			(192,684	)
Non-Personnel Expenses	18		(237,584	)		(19,655	)		(257,240	)		71			(257,311	)
Premium for Deposit Insurance	19		*(15,307*	)		*(652*	)		*(15,959*	)		493			(16,453	)
Miscellaneous Taxes	20		(27,936	)		(1,681	)		(29,618	)		(170	)		(29,447	)

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)	21		201,467			17,059			218,526			37,789			180,736

Excluding Net Gains (Losses) related to Bonds	22		*176,033*			*14,391*			*190,424*			44,460			145,964

Reversal of (Provision for) General Reserve for Losses on Loans	23		—			(43	)		(43	)		(43	)		—

Net Business Profits	24		201,467			17,016			218,483			37,746			180,736

Net Gains (Losses) related to Bonds	25		*25,433*			*2,668*			*28,101*			(6,670	)		34,772

Net Non-Recurring Gains (Losses)	26		138,305			11,012			149,318			(27,976	)		177,294
Net Gains (Losses) related to Stocks	27		126,153			12,151			138,304			28,193			110,111
Expenses related to Portfolio Problems	28		(19,305	)		32			(19,272	)		(11,073	)		(8,199	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	29		49,961			—			49,961			(81,743	)		131,705
Other	30		(18,505	)		(1,171	)		(19,676	)		36,646			(56,322	)

Ordinary Profits	31		339,772			28,028			367,801			9,770			358,031

Net Extraordinary Gains (Losses)	32		6,903			(30	)		6,872			6,958			(86	)
Net Gains (Losses) on Disposition of Fixed Assets	33		*1,818*			*(21*	)		*1,796*			2,471			(675	)
Losses on Impairment of Fixed Assets	34		*(2,363*	)		(9	)		*(2,372*	)		2			(2,375	)
Gains on Cancellation of Employee Retirement Benefit Trust	35		*7,448*			—			*7,448*			7,448			—
Income before Income Taxes	36		346,676			27,997			374,673			16,728			357,945
Income Taxes—Current	37		(93,968	)		(5,005	)		(98,974	)		(15,785	)		(83,188	)
—Deferred	38		(5,459	)		(2,445	)		(7,905	)		(11,498	)		3,592

Net Income	39		247,247			20,546			267,794			(10,555	)		278,349

* 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” [6].
Credit-related Costs	40		30,656			(10	)		30,646			(92,859	)		123,506


* Credit-related Costs [40] = Expenses related to Portfolio Problems [28] + Reversal of (Provision for) General Reserve for Losses on Loans [23] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [29] + Credit Costs for Trust Accounts [6]

(Reference) Breakdown of Credit-related Costs
Credit Costs for Trust Accounts	41					—			—			—			—
Reversal of (Provision for) General Reserve for Losses on Loans	42		46,025			(43	)		45,982			(73,980	)		119,962
Losses on Write-offs of Loans	43		(12,036	)		—			(12,036	)		(9,383	)		(2,652	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans	44		(213	)		32			(180	)		(6,625	)		6,444
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries	45		(4	)		—			(4	)		(5	)		1
Reversal of (Provision for) Reserve for Contingencies	46		56			—			56			7			48
Other (including Losses on Sales of Loans)	47		(3,171	)		—			(3,171	)		(2,873	)		(298	)
Total	48		30,656			(10	)		30,646			(92,859	)		123,506

2-2

Mizuho Financial Group, Inc.

Mizuho Bank

Non-Consolidated


		(Millions of yen)
		First Half of Fiscal 2018
					Change			First Half of Fiscal 2017
Gross Profits	1		637,022			31,460			605,562
Domestic Gross Profits	2		361,024			(15,225	)		376,250
Net Interest Income	3		237,317			(4,674	)		241,992
Net Fee and Commission Income	4		108,914			10,675			98,238
Net Trading Income	5		2,759			(10,053	)		12,813
Net Other Operating Income	6		12,033			(11,172	)		23,205
International Gross Profits	7		275,998			46,686			229,312
Net Interest Income	8		109,616			6,532			103,084
Net Fee and Commission Income	9		66,778			9,880			56,897
Net Trading Income	10		26,419			14,605			11,813
Net Other Operating Income	11		73,184			15,667			57,516
General and Administrative Expenses (excluding Non-Recurring Losses)	12		(435,555	)		2,848			(438,404	)
Expense Ratio	13		*68.3*	%		(4.0	%)		72.3	%
Personnel Expenses	14		(170,034	)		2,879			(172,913	)
Non-Personnel Expenses	15		(237,584	)		224			(237,809	)
Premium for Deposit Insurance	16		*(15,307*	)		459			(15,766	)
Miscellaneous Taxes	17		(27,936	)		(254	)		(27,682	)

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)	18		201,467			34,309			167,157

Excluding Net Gains (Losses) related to Bonds	19		*176,033*			41,899			134,133

Reversal of (Provision for) General Reserve for Losses on Loans	20		—			—			—

Net Business Profits	21		201,467			34,309			167,157

Net Gains (Losses) related to Bonds	22		*25,433*			(7,590	)		33,023

Net Non-Recurring Gains (Losses)	23		138,305			(27,802	)		166,108
Net Gains (Losses) related to Stocks	24		126,153			26,805			99,348
Expenses related to Portfolio Problems	25		(19,305	)		(11,107	)		(8,197	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	26		49,961			(78,851	)		128,813
Other	27		(18,505	)		35,350			(53,855	)

Ordinary Profits	28		339,772			6,506			333,266

Net Extraordinary Gains (Losses)	29		6,903			6,980			(77	)
Net Gains (Losses) on Disposition of Fixed Assets	30		*1,818*			2,484			(666	)
Losses on Impairment of Fixed Assets	31		*(2,363*	)		11			(2,375	)
Gains on Cancellation of Employee Retirement Benefit Trust	32		*7,448*			7,448			—
Income before Income Taxes	33		346,676			13,487			333,188
Income Taxes—Current	34		(93,968	)		(16,821	)		(77,147	)
—Deferred	35		(5,459	)		(10,097	)		4,637

Net Income	36		247,247			(13,431	)		260,678


Credit-related Costs	37		30,656			(89,958	)		120,615


* Credit-related Costs [37] = Expenses related to Portfolio Problems [25] + Reversal of (Provision for) General Reserve for Losses on Loans [20] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [26]
(Reference) Breakdown of Credit-related Costs
Reversal of (Provision for) General Reserve for Losses on Loans	38		46,025			(71,112	)		117,138
Losses on Write-offs of Loans	39		(12,036	)		(9,385	)		(2,651	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans	40		(213	)		(6,589	)		6,376
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries	41		(4	)		(5	)		1
Reversal of (Provision for) Reserve for Contingencies	42		56			7			48
Other (including Losses on Sales of Loans)	43		(3,171	)		(2,873	)		(298	)
Total	44		30,656			(89,958	)		120,615

2-3

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

Non-Consolidated


		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of Fiscal 2017
					Change			First Half of Fiscal 2017
Gross Profits	1		58,282			3,663			54,618
Domestic Gross Profits	2		57,358			7,471			49,886
Net Interest Income	3		12,153			354			11,799
Fiduciary Income	4		27,593			(22	)		27,616
Trust Fees for Jointly Operated Designated Money Trust	5		1,915			190			1,724
Credit Costs for Trust Accounts *	6		—			—			—
Net Fee and Commission Income	7		13,679			2,987			10,691
Net Trading Income	8		1,077			1,245			(168	)
Net Other Operating Income	9		2,853			2,906			(52	)
International Gross Profits	10		924			(3,807	)		4,731
Net Interest Income	11		1,535			(1,178	)		2,714
Net Fee and Commission Income	12		(375	)		51			(427	)
Net Trading Income	13		(62	)		(729	)		666
Net Other Operating Income	14		(173	)		(1,951	)		1,777
General and Administrative Expenses (excluding Non-Recurring Losses)	15		(41,223	)		(183	)		(41,040	)
Expense Ratio	16		*70.7*	%		(4.4	%)		75.1	%
Personnel Expenses	17		(19,886	)		(114	)		(19,771	)
Non-Personnel Expenses	18		(19,655	)		(152	)		(19,502	)
Premium for Deposit Insurance	19		*(652*	)		34			(686	)
Miscellaneous Taxes	20		(1,681	)		84			(1,765	)

Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans)	21		17,059			3,480			13,578

Excluding Net Gains (Losses) related to Bonds	22		*14,391*			2,560			11,830

Reversal of (Provision for) General Reserve for Losses on Loans	23		(43	)		(43	)		—

Net Business Profits	24		17,016			3,437			13,578

Net Gains (Losses) related to Bonds	25		*2,668*			919			1,748

Net Non-Recurring Gains (Losses)	26		11,012			(173	)		11,186
Net Gains (Losses) related to Stocks	27		12,151			1,388			10,762
Expenses related to Portfolio Problems	28		32			33			(1	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others	29		—			(2,892	)		2,892
Other	30		(1,171	)		1,296			(2,467	)

Ordinary Profits	31		28,028			3,263			24,765

Net Extraordinary Gains (Losses)	32		(30	)		(22	)		(8	)
Net Gains (Losses) on Disposition of Fixed Assets	33		*(21*	)		(13	)		(8	)
Losses on Impairment of Fixed Assets	34		(9	)		(9	)		—
Income before Income Taxes	35		27,997			3,241			24,756
Income Taxes—Current	36		(5,005	)		1,035			(6,041	)
—Deferred	37		(2,445	)		(1,401	)		(1,044	)

Net Income	38		20,546			2,875			17,670

* Net Business Profits (before Reversal of (Provision for) General Reserve for Losses on Loans) excludes the amounts of “Credit Costs for Trust Accounts” [6].

Credit-related Costs	39		(10	)		(2,901	)		2,890

* Credit-related Costs [39] = Expenses related to Portfolio Problems [28] + Reversal of (Provision for) General Reserve for Losses on Loans [23] + Gains on Reversal of Reserves for Possible Losses on Loans, and others [29] + Credit Costs for Trust Accounts [6]

(Reference) Breakdown of Credit-related Costs
Credit Costs for Trust Accounts	40		—			—			—
Reversal of (Provision for) General Reserve for Losses on Loans	41		(43	)		(2,867	)		2,824
Losses on Write-offs of Loans	42		—			1			(1	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans	43		32			(35	)		67
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries	44		—			(0	)		0
Reversal of (Provision for) Reserve for Contingencies	45		—			—			—
Other (including Losses on Sales of Loans)	46		—			—			—
Total	47		(10	)		(2,901	)		2,890

2-4

Mizuho Financial Group, Inc.

2. Interest Margins (Domestic Operations)

Non-Consolidated


			*(%)*
			First Half of Fiscal 2018						First Half of Fiscal 2017
Mizuho Bank						Change			First Half of Fiscal 2017
Return on Interest-Earning Assets		1		0.49			(0.03	)		0.52
Return on Loans and Bills Discounted *¹		2		0.80			(0.02	)		0.83
Return on Securities		3		0.54			0.08			0.46
Cost of Funding (including Expenses)		4		0.68			(0.04	)		0.72
Cost of Deposits (including Expenses)		5		0.70			(0.04	)		0.75
Cost of Deposits ²*		6		0.00			(0.00	)		0.00
Cost of Other External Liabilities		7		0.34			0.01			0.33

Net Interest Margin	(1)-(4)	8		(0.19	)		0.01			(0.20	)
Loan and Deposit Rate Margin (including Expenses)	(2)-(5)	9		0.10			0.02			0.07
Loan and Deposit Rate Margin	(2)-(6)	10		0.80			(0.01	)		0.82

1 Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG). 2 Deposits include Negotiable Certificates of Deposit (“NCDs”). (Reference) After excluding loans to the Japanese government and others
Return on Loans and Bills Discounted		11		0.84			(0.03	)		0.88
Loan and Deposit Rate Margin (including Expenses)	(11)-(5)	12		0.13			0.01			0.12
Loan and Deposit Rate Margin	(11)-(6)	13		0.84			(0.03	)		0.87

			*(%)*
Mizuho Trust & Banking			First Half of Fiscal 2018						First Half of Fiscal 2017
Mizuho Trust & Banking						Change			First Half of Fiscal 2017
Return on Interest-Earning Assets		14		0.51			0.01			0.50
Return on Loans and Bills Discounted *¹		15		0.62			(0.03	)		0.65
Return on Securities		16		1.40			0.37			1.02
Cost of Funding		17		0.08			(0.00	)		0.09
Cost of Deposits *²		18		0.02			0.00			0.02

Net Interest Margin	(14)-(17)	19		0.42			0.01			0.40
Loan and Deposit Rate Margin	(15)-(18)	20		0.59			(0.03	)		0.63

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		21		0.65			(0.03	)		0.69
Loan and Deposit Rate Margin	(21)-(18)	22		0.63			(0.03	)		0.67

(Reference)			*(%)*
			First Half of Fiscal 2018						First Half of Fiscal 2017
Aggregate Figures for the 2 Banks						Change			First Half of Fiscal 2017
Return on Loans and Bills Discounted *¹		23		0.79			(0.02	)		0.81
Cost of Deposits *²		24		0.00			(0.00	)		0.00

Loan and Deposit Rate Margin	(23)-(24)	25		0.79			(0.02	)		0.81
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		26		0.83			(0.03	)		0.86
Loan and Deposit Rate Margin	(26)-(24)	27		0.82			(0.03	)		0.86

2-5

Mizuho Financial Group, Inc.

3. Use and Source of Funds

Non-Consolidated

Mizuho Bank

(Millions of yen, %)

First Half of Fiscal 2018

Change

First Half of Fiscal 2017

Average Balance

Rate

Average Balance

Rate

Average Balance

Rate

(Total)

Use of Funds

150,657,886

1.08

2,538,617

0.19

148,119,268

0.88

Loans and Bills Discounted

73,517,919

1.46

2,549,569

0.23

70,968,349

1.23

Securities

31,790,001

0.95

(381,287

)

0.11

32,171,288

0.83

Source of Funds

150,810,286

0.62

3,770,296

0.19

147,039,989

0.42

Deposits

113,461,404

0.35

3,089,590

0.10

110,371,813

0.24

NCDs

12,325,967

0.90

1,107,426

0.35

11,218,540

0.55

(Domestic Operations)

Use of Funds

105,503,723

0.49

3,644,114

(0.03

)

101,859,608

0.52

Loans and Bills Discounted

46,689,350

0.79

421,377

(0.02

)

46,267,972

0.82

Securities

20,127,828

0.54

84,454

0.08

20,043,374

0.46

Source of Funds

104,750,906

0.04

3,902,283

(0.00

)

100,848,622

0.04

Deposits

89,136,171

0.00

3,788,987

(0.00

)

85,347,183

0.00

NCDs

6,156,976

0.00

391,964

0.00

5,765,012

0.00

(International Operations)

Use of Funds

49,193,431

2.29

506,048

0.63

48,687,383

1.66

Loans and Bills Discounted

26,828,568

2.64

2,128,191

0.64

24,700,377

2.00

Securities

11,662,173

1.65

(465,741

)

0.20

12,127,914

1.44

Source of Funds

50,098,648

1.81

1,479,558

0.57

48,619,089

1.24

Deposits

24,325,232

1.64

(699,396

)

0.57

25,024,629

1.06

NCDs

6,168,990

1.80

715,462

0.67

5,453,528

1.13

Mizuho Trust & Banking (Banking Account)

(Millions of yen, %)

First Half of Fiscal 2018

Change

First Half of Fiscal 2017

Average Balance

Rate

Average Balance

Rate

Average Balance

Rate

(Total)

Use of Funds

6,334,888

0.68

(24,392

)

0.03

6,359,280

0.65

Loans and Bills Discounted

3,407,553

0.78

73,414

0.02

3,334,138

0.76

Securities

951,371

1.49

(129,605

)

0.20

1,080,977

1.28

Source of Funds

6,829,682

0.23

245,352

0.04

6,584,330

0.18

Deposits

3,530,796

0.03

147,045

0.00

3,383,751

0.02

NCDs

394,263

0.01

105,322

(0.00

)

288,941

0.01

(Domestic Operations)

Use of Funds

5,805,230

0.51

4,106

0.01

5,801,123

0.50

Loans and Bills Discounted

3,157,425

0.62

72,319

(0.03

)

3,085,105

0.65

Securities

605,558

1.40

(114,750

)

0.37

720,309

1.02

Source of Funds

6,287,394

0.08

271,815

(0.00

)

6,015,578

0.09

Deposits

3,516,820

0.02

143,650

0.00

3,373,169

0.02

NCDs

394,263

0.01

105,322

(0.00

)

288,941

0.01

(International Operations)

Use of Funds

619,219

2.17

(21,419

)

0.26

640,638

1.90

Loans and Bills Discounted

250,128

2.88

1,095

0.73

249,032

2.15

Securities

345,812

1.64

(14,855

)

(0.17

)

360,667

1.81

Source of Funds

631,849

1.64

(19,384

)

0.59

651,234

1.04

Deposits

13,976

1.71

3,394

0.77

10,581

0.94

NCDs

—

2-6

Mizuho Financial Group, Inc.

4. Net Gains/Losses on Securities

Consolidated


	*(Millions of yen)*
	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Bonds		27,111			(8,494	)		35,606
Gains on Sales and Others		47,942			(8,935	)		56,877
Losses on Sales and Others		(17,778	)		1,940			(19,718	)
Impairment (Devaluation)		(960	)		887			(1,847	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(2,092	)		(2,387	)		294

	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Stocks		149,981			42,054			107,926
Gains on Sales		181,076			57,679			123,397
Losses on Sales		(12,609	)		(6,176	)		(6,432	)
Impairment (Devaluation)		(1,171	)		(582	)		(589	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(17,314	)		(8,865	)		(8,448	)

Non-Consolidated

Aggregate Figures for the 2 Banks


	*(Millions of yen)*
	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Bonds		28,101			(6,670	)		34,772
Gains on Sales and Others		49,065			(6,940	)		56,005
Losses on Sales and Others		(17,911	)		2,768			(20,680	)
Impairment (Devaluation)		(960	)		(112	)		(847	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(2,092	)		(2,387	)		294

	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Stocks		138,304			28,193			110,111
Gains on Sales		168,206			43,491			124,714
Losses on Sales		(12,078	)		(6,265	)		(5,813	)
Impairment (Devaluation)		(515	)		(175	)		(340	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		7			7			—
Gains (Losses) on Derivatives other than for Trading		(17,314	)		(8,865	)		(8,448	)

2-7

Mizuho Financial Group, Inc.

Mizuho Bank


	*(Millions of yen)*
	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Bonds		25,433			(7,590	)		33,023
Gains on Sales and Others		44,918			(7,507	)		52,426
Losses on Sales and Others		(16,798	)		2,270			(19,068	)
Impairment (Devaluation)		(960	)		(112	)		(847	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(1,726	)		(2,240	)		514

	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Stocks		126,153			26,805			99,348
Gains on Sales		153,548			40,007			113,540
Losses on Sales		(11,253	)		(5,561	)		(5,691	)
Impairment (Devaluation)		(515	)		(233	)		(282	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		7			7			—
Gains (Losses) on Derivatives other than for Trading		(15,633	)		(7,415	)		(8,217	)

Mizuho Trust & Banking

	*(Millions of yen)*
	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Bonds		2,668			919			1,748
Gains on Sales and Others		4,147			567			3,579
Losses on Sales and Others		(1,112	)		498			(1,611	)
Impairment (Devaluation)		—			—			—
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(366	)		(146	)		(219	)

	First Half of Fiscal 2018						First Half of Fiscal 2017
				Change			First Half of Fiscal 2017
Net Gains (Losses) related to Stocks		12,151			1,388			10,762
Gains on Sales		14,657			3,483			11,174
Losses on Sales		(825	)		(703	)		(122	)
Impairment (Devaluation)		—			58			(58	)
Reversal of (Provision for) Reserve for Possible Losses on Investments		—			—			—
Gains (Losses) on Derivatives other than for Trading		(1,680	)		(1,449	)		(230	)

2-8

Mizuho Financial Group, Inc.

5. 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

(Millions of yen)

As of September 30, 2018

As of March 31, 2018

Book Value
(=Fair Value)

Unrealized Gains/Losses

Book Value
(=Fair Value)

Unrealized Gains/Losses

Gains

Losses

Gains

Losses

Other Securities

32,722,033

1,871,505

2,246,881

375,376

31,581,138

1,954,226

2,258,682

304,455

Japanese Stocks

3,517,236

2,015,943

2,053,623

37,680

3,582,240

2,017,372

2,050,964

33,592

Japanese Bonds

16,704,787

(26,747

)

22,165

48,913

16,535,604

5,411

37,822

32,411

Japanese Government Bonds

13,450,424

(20,591

)

1,501

22,093

13,332,094

616

10,257

9,640

Other

12,500,008

(117,689

)

171,092

288,782

11,463,293

(68,557

)

169,894

238,451

Foreign Bonds

9,402,522

(223,099

)

6,541

229,641

8,329,141

(166,095

)

11,647

177,743

*	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.

*	The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the consolidated balance sheets and the acquisition costs.

Unrealized Gains/Losses include ¥26,133 million and ¥28,273 million, which were recognized in the statement of income for September 30, 2018 and March 31, 2018, respectively, by applying the fair-value hedge method. As a result, the base amounts to be recorded directly to Net Assets after tax and consolidation adjustments as of September 30, 2018 and March 31, 2018 are ¥1,845,372 million and ¥1,925,952 million, respectively.

Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax and consolidation adjustments, excluding the amount recognized in the statement of income by applying the fair-value hedge method, including translation differences regarding securities, the fair values of which are extremely difficult to determine) as of September 30, 2018 and March 31, 2018 are ¥1,335,533 million and ¥1,392,392 million, respectively.

(2) Bonds Held to Maturity

(Millions of yen)

As of September 30, 2018

As of March 31, 2018

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

Gains

Losses

Gains

Losses

Bonds Held to Maturity

2,135,128

(2,852

)

19,417

22,269

2,515,830

6,016

24,472

18,455

Non-Consolidated

(1) Other Securities

Aggregate Figures for the 2 Banks

(Millions of yen)

As of September 30, 2018

As of March 31, 2018

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

(=Fair Value)

Gains

Losses

(=Fair Value)

Gains

Losses

Other Securities

31,649,106

1,677,558

2,055,359

377,801

30,460,639

1,742,560

2,048,445

305,884

Japanese Stocks

3,427,438

1,932,604

1,973,532

40,928

3,487,425

1,929,319

1,966,186

36,866

Japanese Bonds

16,362,390

(26,638

)

22,150

48,788

16,248,134

5,544

37,804

32,260

Japanese Government Bonds

13,428,932

(20,599

)

1,492

22,091

13,309,191

611

10,246

9,634

Other

11,859,277

(228,406

)

59,677

288,084

10,725,080

(192,303

)

44,454

236,757

Foreign Bonds

9,130,072

(223,313

)

5,666

228,980

8,029,279

(165,125

)

10,979

176,105

Mizuho Bank

Other Securities

30,717,282

1,557,461

1,921,033

363,571

29,418,125

1,617,868

1,909,248

291,380

Japanese Stocks

3,208,366

1,808,036

1,846,112

38,076

3,260,188

1,800,836

1,834,258

33,422

Japanese Bonds

16,067,054

(26,811

)

21,387

48,199

15,784,809

4,483

36,164

31,680

Japanese Government Bonds

13,223,662

(20,259

)

1,338

21,598

12,918,767

9,164

9,095

Other

11,441,861

(223,762

)

53,533

277,296

10,373,126

(187,451

)

38,825

226,276

Foreign Bonds

8,908,494

(213,782

)

5,666

219,448

7,870,983

(159,166

)

10,781

169,948

Mizuho Trust & Banking

Other Securities

931,823

120,096

134,325

14,229

1,042,514

124,692

139,196

14,504

Japanese Stocks

219,071

124,567

127,419

2,851

227,236

128,483

131,928

3,444

Japanese Bonds

295,336

172

762

589

463,324

1,060

1,639

579

Japanese Government Bonds

205,269

(340

)

153

493

390,424

542

1,081

539

Other

417,416

(4,644

)

6,143

10,787

351,953

(4,851

)

5,629

10,480

Foreign Bonds

221,578

(9,531

)

—

9,531

158,295

(5,959

)

198

6,157

*	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.

*	The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the balance sheets and the acquisition costs.

Unrealized Gains/Losses include ¥26,133 million and ¥28,273 million, which were recognized in the statement of income (aggregate figures for the 2 banks) for September 30, 2018 and March 31, 2018, respectively, by applying the fair-value hedge method. As a result, the base amounts to be recorded directly to Net Assets after tax adjustment (aggregate figures for the 2 banks) as of September 30, 2018 and March 31, 2018 are ¥1,651,425 million and ¥1,714,286 million, respectively.

Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax adjustment, excluding the amount recognized in the statement of income by applying the fair-value hedge method including translation differences regarding securities, the fair values of which are extremely difficult to determine) as of September 30, 2018 and March 31, 2018 are as follows:


	*(Millions of yen)*
	As of September 30, 2018		As of March 31, 2018
Aggregate Figures		1,211,823		1,258,468
Mizuho Bank		1,115,927		1,159,210
Mizuho Trust & Banking		95,895		99,258

2-9

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity

Aggregate Figures for the 2 Banks


	*(Millions of yen)*
	As of September 30, 2018									As of March 31, 2018
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value				Gains		Losses
Aggregate Figures		2,135,128		(2,852	)		19,417		22,269		2,515,830		6,016		24,472		18,455
Mizuho Bank		2,135,128		(2,852	)		19,417		22,269		2,515,830		6,016		24,472		18,455
Mizuho Trust & Banking		—		—			—		—		—		—		—		—

(3) Investment in Subsidiaries and Affiliates

Aggregate Figures for the 2 Banks

	*(Millions of yen)*
	As of September 30, 2018									As of March 31, 2018
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value				Gains		Losses
Aggregate Figures		108,663		196,385			198,656		2,271		108,663		216,069		218,407		2,338
Mizuho Bank		108,663		196,385			198,656		2,271		108,663		216,069		218,407		2,338
Mizuho Trust & Banking		—		—			—		—		—		—		—		—

(Reference)

Unrealized Gains/Losses on Other Securities

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

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

The base amounts are as follows:

Consolidated

(Millions of yen)

As of September 30, 2018

As of
March 31, 2018

Unrealized Gains/Losses

Unrealized
Gains/Losses

Change

Other Securities

1,845,372

(80,580

)

1,925,952

Japanese Stocks

1,972,572

(11,699

)

1,984,272

Japanese Bonds

(26,747

)

(32,159

)

5,411

Japanese Government Bonds

(20,591

)

(21,208

)

616

Other

(100,452

)

(36,721

)

(63,731

)

Foreign Bonds

(205,861

)

(44,592

)

(161,269

)

Non-Consolidated

Aggregate Figures for the 2 Banks

(Millions of yen)

As of September 30, 2018

As of
March 31, 2018

Unrealized Gains/Losses

Unrealized
Gains/Losses

Change

Other Securities

1,651,425

(62,861

)

1,714,286

Japanese Stocks

1,889,233

(6,986

)

1,896,219

Japanese Bonds

(26,638

)

(32,182

)

5,544

Japanese Government Bonds

(20,599

)

(21,211

)

611

Other

(211,169

)

(23,692

)

(187,477

)

Foreign Bonds

(206,076

)

(45,776

)

(160,299

)

2-10

Mizuho Financial Group, Inc.

6. Projected Redemption Amounts for Securities

⬛ The redemption schedule by term for Bonds Held to Maturity and Other Securities with maturities is as follows:

Non-Consolidated

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	Maturity as of September 30, 2018								Change												Maturity as of March 31, 2018
	Within 1 year		1 - 5 years		5 - 10 years		Over 10 years		Within 1 year			1 - 5 years			5 - 10 years			Over 10 years			Within 1 year		1 - 5 years		5 - 10 years		Over 10 years
Japanese Bonds		9,707.2		5,411.4		1,706.0		1,081.2		2,168.2			(1,502.1	)		(1,025.2	)		186.1			7,539.0		6,913.5		2,731.3		895.0
Japanese Government Bonds		9,305.9		4,187.3		1,193.9		290.0		2,207.2			(1,540.9	)		(1,036.1	)		190.0			7,098.6		5,728.2		2,230.0		100.0
Japanese Local Government Bonds		22.4		104.9		61.5		4.8		(9.5	)		(12.8	)		(19.5	)		0.4			31.9		117.7		81.1		4.4
Japanese Corporate Bonds		378.8		1,119.1		450.5		786.4		(29.5	)		51.5			30.3			(4.2	)		408.3		1,067.6		420.1		790.6
Other		3,183.5		2,381.9		2,276.2		2,447.4		289.4			506.1			282.5			171.8			2,894.1		1,875.8		1,993.6		2,275.6

Mizuho Bank
Japanese Bonds		9,599.6		5,277.0		1,653.4		1,081.2		2,210.9			(1,375.6	)		(1,031.0	)		186.1			7,388.6		6,652.7		2,684.5		895.0
Japanese Government Bonds		9,200.9		4,107.3		1,173.9		290.0		2,251.8			(1,404.9	)		(1,036.1	)		190.0			6,949.0		5,512.2		2,210.0		100.0
Japanese Local Government Bonds		22.2		103.6		61.5		4.8		(9.5	)		(12.5	)		(19.5	)		0.4			31.7		116.2		81.1		4.4
Japanese Corporate Bonds		376.5		1,066.0		418.0		786.4		(31.3	)		41.8			24.6			(4.2	)		407.8		1,024.2		393.3		790.6
Other		3,182.2		2,363.8		2,113.4		2,391.3		289.9			505.2			236.2			152.2			2,892.3		1,858.6		1,877.1		2,239.0

Mizuho Trust & Banking
Japanese Bonds		107.6		134.3		52.5		—		(42.7	)		(126.4	)		5.7			—			150.3		260.8		46.8		—
Japanese Government Bonds		105.0		80.0		20.0		—		(44.6	)		(136.0	)		—			—			149.6		216.0		20.0		—
Japanese Local Government Bonds		0.2		1.2		—		—		0.0			(0.2	)		—			—			0.1		1.4		—		—
Japanese Corporate Bonds		2.3		53.1		32.5		—		1.7			9.7			5.7			—			0.5		43.3		26.8		—
Other		1.3		18.0		162.7		56.0		(0.5	)		0.8			46.2			19.5			1.8		17.1		116.4		36.5

2-11

Mizuho Financial Group, Inc.

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

Non-Consolidated

⬛ Notional Amounts of Interest Rate Swaps (qualifying for hedge accounting (deferred method)) by Remaining Contractual Term

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of September 30, 2018								Change												As of March 31, 2018
	Within 1 year		1 - 5 years		Over 5 years		Total		Within 1 year			1 - 5 years			Over 5 years			Total			Within 1 year		1 - 5 years		Over 5 years		Total
Receive Fixed / Pay Float		4,293.0		10,945.1		9,529.2		24,767.4		(189.7	)		(234.6	)		(59.4	)		(483.8	)		4,482.8		11,179.7		9,588.6		25,251.2
Receive Float / Pay Fixed		174.2		1,911.2		5,357.8		7,443.3		(30.4	)		466.3			(273.5	)		162.3			204.7		1,444.8		5,631.4		7,281.0
Receive Float / Pay Float		—		—		—		—		—			—			—			—			—		—		—		—
Receive Fixed / Pay Fixed		—		—		—		—		—			—			—			—			—		—		—		—

Total		4,467.3		12,856.3		14,887.0		32,210.8		(220.1	)		231.7			(333.0	)		(321.5	)		4,687.5		12,624.6		15,220.1		32,532.3

Mizuho Bank
Receive Fixed / Pay Float		4,293.0		10,945.1		9,529.2		24,767.4		(189.7	)		(234.6	)		(59.4	)		(483.8	)		4,482.8		11,179.7		9,588.6		25,251.2
Receive Float / Pay Fixed		162.7		1,791.2		5,257.8		7,211.7		(5.5	)		516.3			(283.5	)		227.2			168.2		1,274.8		5,541.4		6,984.5
Receive Float / Pay Float		—		—		—		—		—			—			—			—			—		—		—		—
Receive Fixed / Pay Fixed		—		—		—		—		—			—			—			—			—		—		—		—

Total		4,455.8		12,736.3		14,787.0		31,979.2		(195.2	)		281.7			(343.0	)		(256.6	)		4,651.0		12,454.6		15,130.1		32,235.8

Mizuho Trust & Banking
Receive Fixed / Pay Float		—		—		—		—		—			—			—			—			—		—		—		—
Receive Float / Pay Fixed		11.5		120.0		100.0		231.5		(24.8	)		(50.0	)		10.0			(64.8	)		36.4		170.0		90.0		296.4
Receive Float / Pay Float		—		—		—		—		—			—			—			—			—		—		—		—
Receive Fixed / Pay Fixed		—		—		—		—		—			—			—			—			—		—		—		—

Total		11.5		120.0		100.0		231.5		(24.8	)		(50.0	)		10.0			(64.8	)		36.4		170.0		90.0		296.4

(Reference)

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


	*(Billions of yen)*
	As of September 30, 2018						Change								As of March 31, 2018
	Deferred Hedge Gains/Losses						Deferred Hedge Gains/Losses								Deferred Hedge Gains/Losses
	Gains		Losses				Gains			Losses					Gains		Losses
Aggregate Figures		744.9		931.6	(186.7	)		16.4			96.4		(80.0	)		728.5		835.1	(106.6	)
Mizuho Bank		655.5		845.1	(189.6	)		22.7			103.3		(80.6	)		632.8		741.8	(109.0	)
Mizuho Trust & Banking		89.3		86.4	2.8			(6.3	)		(6.8	)	0.5			95.6		93.3	2.3

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

2-12

Mizuho Financial Group, Inc.

8. Employee Retirement Benefits

Non-Consolidated

Retirement Benefit Obligations

Aggregate Figures for the 2 Banks


		*(Millions of yen)*
		First Half of Fiscal 2018
					Change			First Half of Fiscal 2017
Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		1,236,447			(1,793	)		1,238,241
Discount Rate (%)			0.02~0.98						0.02~1.09
Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		2,166,064			188,036			1,978,028
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(422,570	)		(213,982	)		(208,588	)
Prepaid Pension Cost (at the beginning of the fiscal year)	(B)+ (C) - (A)		507,046			(24,152	)		531,198
Mizuho Bank
Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		1,089,411			(2,925	)		1,092,337
Discount Rate (%)			0.02~0.98						0.02~1.09
Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		1,943,201			168,167			1,775,033
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(396,336	)		(195,607	)		(200,728	)
Prepaid Pension Cost (at the beginning of the fiscal year)	(B)+ (C) - (A)		457,453			(24,514	)		481,968
Mizuho Trust & Banking
Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		147,036			1,132			145,904
Discount Rate (%)			0.02~0.98						0.02~1.09
Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		222,863			19,868			202,994
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(26,234	)		(18,374	)		(7,859	)
Prepaid Pension Cost (at the beginning of the fiscal year)	(B)+ (C) - (A)		49,592			361			49,230

2-13

Mizuho Financial Group, Inc.

Income (Expenses) related to Employee Retirement Benefits

Aggregate Figures for the 2 Banks


		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of
					Change			Fiscal 2017
Service Cost			(14,167	)		(429	)		(13,737	)
Interest Cost			(2,102	)		220			(2,323	)
Expected Return on Plan Assets			16,450			1,285			15,165
Accumulation (Amortization) of Unrecognized Actuarial Differences			15,606			26,322			(10,715	)
Gains on Cancellation of Employee Retirement Benefit Trust			7,448			7,448			—
Other			(1,119	)		(64	)		(1,055	)

Total			22,115			34,782			(12,666	)

Note: Gains on Cancellation of Employee Retirement Benefit Trust is recorded to Extraordinary Gains. Mizuho Bank
		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of
					Change			Fiscal 2017
Service Cost			(12,054	)		(367	)		(11,687	)
Interest Cost			(1,850	)		196			(2,047	)
Expected Return on Plan Assets			14,709			930			13,779
Accumulation (Amortization) of Unrecognized Actuarial Differences			15,295			23,925			(8,629	)
Gains on Cancellation of Employee Retirement Benefit Trust			7,448			7,448			—
Other			(1,019	)		(77	)		(941	)

Total			22,529			32,055			(9,526	)

Note: Gains on Cancellation of Employee Retirement Benefit Trust is recorded to Extraordinary Gains. Mizuho Trust & Banking
		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of
					Change			Fiscal 2017
Service Cost			(2,112	)		(62	)		(2,050	)
Interest Cost			(251	)		24			(276	)
Expected Return on Plan Assets			1,741			355			1,386
Accumulation (Amortization) of Unrecognized Actuarial Differences			310			2,397			(2,086	)
Other			(100	)		12			(113	)

Total			(413	)		2,726			(3,139	)

Consolidated Retirement Benefit Obligations
		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of
					Change			Fiscal 2017
Retirement Benefit Obligations (at the beginning of the fiscal year)	(A)		1,441,383			8,012			1,433,371
Fair Value of Plan Assets (at the beginning of the fiscal year)	(B)		2,378,667			202,769			2,175,897
Unrecognized Actuarial Differences (at the beginning of the fiscal year)	(C)		(418,093	)		(216,485	)		(201,608	)
Net Defined Benefit Asset (at the beginning of the fiscal year)	(D)		996,173			198,411			797,762
Net Defined Benefit Liability (at the beginning of the fiscal year)	(A)-(B)+(D)		58,890			3,653			55,236
Income (Expenses) related to Employee Retirement Benefits
		*(Millions of yen)*
		First Half of Fiscal 2018						First Half of
					Change			Fiscal 2017
Service Cost			(20,881	)		(769	)		(20,112	)
Interest Cost			(2,482	)		245			(2,728	)
Expected Return on Plan Assets			18,425			1,699			16,726
Accumulation (Amortization) of Unrecognized Actuarial Differences			15,043			26,579			(11,535	)
Gains on Cancellation of Employee Retirement Benefit Trust			7,448			7,448			—
Other			(3,606	)		125			(3,731	)

Total			13,946			35,327			(21,381	)

Note: Gains on Cancellation of Employee Retirement Benefit Trust is recorded to Extraordinary Gains.

2-14

Mizuho Financial Group, Inc.

9. Capital Ratio

Mizuho Financial Group


	*(%, Billions of yen)*
	Consolidated
	As of September 30, 2018 (Preliminary)				As of March 31, 2018
International Standard			Change		As of March 31, 2018
(1) Total Capital Ratio		18.61		0.37		18.24
(2) Tier 1 Capital Ratio		15.66		0.22		15.44
(3) Common Equity Tier 1 Capital Ratio		12.62		0.13		12.49
(4) Total Capital		11,214.0		353.6		10,860.4
(5) Tier 1 Capital		9,434.8		242.6		9,192.2
(6) Common Equity Tier 1 Capital		7,607.2		170.2		7,437.0
(7) Risk weighted Assets		60,240.0		711.0		59,528.9
(8) Total Required Capital (7)X8%		4,819.2		56.8		4,762.3

Mizuho Bank

Consolidated

Non-Consolidated

As of
September 30, 2018
(Preliminary)

As of
March 31,
2018

As of
September 30,
2018
(Preliminary)

International Standard

Change

(1) Total Capital Ratio

18.82

0.30

18.52

18.97

(2) Tier 1 Capital Ratio

15.73

0.12

15.61

15.77

(3) Common Equity Tier 1 Capital Ratio

12.41

0.07

12.34

12.31

(4) Total Capital

10,331.2

449.8

9,881.4

10,006.5

(5) Tier 1 Capital

8,638.1

308.1

8,329.9

8,321.6

(6) Common Equity Tier 1 Capital

6,817.0

232.7

6,584.2

6,494.8

(7) Risk weighted Assets

54,892.3

1,556.2

53,336.1

52,746.8

(8) Total Required Capital (7)X8%

4,391.3

124.4

4,266.8

4,219.7

Mizuho Trust & Banking

Consolidated

Non-Consolidated

As of
September 30, 2018
(Preliminary)

As of
March 31,
2018

As of
September 30,
2018
(Preliminary)

International Standard

Change

(1) Total Capital Ratio

21.46

1.18

20.28

21.45

(2) Tier 1 Capital Ratio

21.27

1.22

20.05

21.26

(3) Common Equity Tier 1 Capital Ratio

21.25

1.26

19.99

21.26

(4) Total Capital

527.2

21.9

505.2

524.2

(5) Tier 1 Capital

522.6

23.2

499.4

519.7

(6) Common Equity Tier 1 Capital

522.0

24.1

497.9

519.7

(7) Risk weighted Assets

2,456.2

(34.2

)

2,490.5

2,443.7

(8) Total Required Capital (7)X8%

196.4

(2.7

)

199.2

195.5

2-15

Mizuho Financial Group, Inc.

II. REVIEW OF CREDITS

1. Status of Non-Accrual, Past Due & Restructured Loans

•

The figures below are presented net of partial direct write-offs.

•

Treatment of accrued interest is based on the results of the self-assessment of assets.

(All loans to obligors classified in the self-assessment of assets as Bankrupt Obligors, Substantially Bankrupt Obligors, and Intensive Control Obligors are categorized as non-accrual loans.)

Consolidated


	*(Millions of yen, %)*
	As of September 30, 2018										As of March 31, 2018
			%		Change			%					%
Loans to Bankrupt Obligors		21,458		0.02		186			(0.00	)		21,271		0.02
Non-Accrual Delinquent Loans		297,276		0.36		(35,425	)		(0.04	)		332,702		0.41
Loans Past Due for 3 Months or More		905		0.00		288			0.00			617		0.00
Restructured Loans		207,697		0.25		(33,080	)		(0.04	)		240,777		0.30

Total		527,338		0.65		(68,030	)		(0.09	)		595,369		0.74

Total Loans		80,516,017		100.00		1,094,543						79,421,473		100.00


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		91,790				(248)						92,039

Trust Account
	As of September 30, 2018										As of March 31, 2018
			%		Change			%					%
Loans to Bankrupt Obligors		—		—		—			—			—		—
Non-Accrual Delinquent Loans		2,816		26.53		(6	)		1.36			2,823		25.16
Loans Past Due for 3 Months or More		—