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 2010
Commission File Number 001-33098
Mizuho Financial Group, Inc.
(Translation of registrants name into English)
5-1, Marunouchi 2-chome
Chiyoda-ku, Tokyo 100-8333
Japan
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82- .
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 12, 2010 | |
Mizuho Financial Group, Inc. | ||
By: | /s/ Takeo Nakano | |
Name: | Takeo Nakano | |
Title: | Managing Director / CFO |
For Immediate Release: | November 12, 2010 |
Financial Statements for the Second Quarter of Fiscal 2010 (Six months ended September 30, 2010) <Under Japanese GAAP> |
Company Name: | Mizuho Financial Group, Inc. (MHFG) | |||||||
Stock Code Number (Japan): |
8411 | |||||||
Stock Exchanges (Japan): |
Tokyo Stock Exchange (First Section), Osaka Securities Exchange (First Section) | |||||||
URL: | http://www.mizuho-fg.co.jp/english/ | |||||||
Representative: |
Takashi Tsukamoto | President & CEO | ||||||
For Inquiry: |
Tatsuya Yamada | Executive Officer, General Manager of Accounting | ||||||
Phone: |
+81-3-5224-2030 | |||||||
Filing of Shihanki Hokokusho (scheduled): |
November 26, 2010 | Trading Accounts: | Established | |||||
Commencement of Dividend Payment (scheduled): |
| |||||||
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 2010 (for the six months ended September 30, 2010)
(1) Consolidated Results of Operations
(%: Changes from the previous first half) | ||||||||||||||||||||||||
Ordinary Income | Ordinary Profits | Net Income | ||||||||||||||||||||||
¥ million | % | ¥ million | % | ¥ million | % | |||||||||||||||||||
1H F2010 |
1,449,871 | (2.3 | ) | 423,829 | 308.3 | 341,759 | 289.2 | |||||||||||||||||
1H F2009 |
1,485,032 | (21.9 | ) | 103,789 | 82.7 | 87,806 | (7.1 | ) |
Net Income per Share of Common Stock |
Diluted Net Income per Share of Common Stock |
|||||||
¥ | ¥ | |||||||
1H F2010 |
19.15 | 17.50 | ||||||
1H F2009 |
6.89 | 6.17 |
(2) Consolidated Financial Conditions
Total Assets | Total Net Assets | Own Capital Ratio | Total Net Assets per Share of Common Stock |
Consolidated Capital Adequacy Ratio (BIS Standard) |
||||||||||||||||
¥ million | ¥ million | % | ¥ | % | ||||||||||||||||
1H F2010 |
157,754,464 | 6,689,256 | 2.7 | 179.55 | 15.40 | |||||||||||||||
Fiscal 2009 |
156,253,572 | 5,837,053 | 2.2 | 191.53 | 13.46 |
Reference: |
Own Capital: As of September 30, 2010: ¥4,389,156 million; As of March 31, 2010: ¥3,513,050 million |
Notes: |
1. |
Own Capital Ratio was calculated as follows: (Total Net Assets - Stock Acquisition Rights - Minority Interests) / Total Assets × 100 | ||
2. |
Consolidated Capital Adequacy Ratio (BIS Standard) is based on the Standards for Bank Holding Company to Consider the Adequacy of Its Capital Based on Assets and Others Held by It and Its Subsidiaries Pursuant to Article 52-25 of the Banking Law (Financial Services Agency Ordinance Announcement No. 20, March 27, 2006). | |||
3. |
Consolidated Capital Adequacy Ratio (BIS) as of September 30, 2010 is a preliminary figure. |
2. Cash Dividends for Shareholders of Common Stock
Cash Dividends per Year | ||||||||||||||||||||
(Record Date) |
First Quarter-end |
Second Quarter-end |
Third Quarter-end |
Fiscal Year-end |
Total | |||||||||||||||
¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||
Fiscal 2009 |
| 0.00 | | 8.00 | 8.00 | |||||||||||||||
Fiscal 2010 |
| 0.00 | ||||||||||||||||||
Fiscal 2010 (estimate) |
| 6.00 | 6.00 |
Notes: | 1. | Revision of estimates for cash dividends for shareholders of common stock during this quarter: 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 2010 (for the fiscal year ending March 31, 2011) |
(%: Changes from the previous fiscal year) | ||||||||||||||||
Net Income | Net Income per Share of Common Stock |
|||||||||||||||
¥ million | % | ¥ | ||||||||||||||
Fiscal 2010 |
500,000 | 108.8 | 24.84 |
Notes: | 1. | Revision of the earnings estimates during this quarter: Yes | ||
2. | The average number of shares of outstanding common stock for fiscal 2010 used in calculating the above Net Income per Share of Common Stock is based on the following: |
| The average of the average number of shares during the 1H Fiscal 2010 and the number of shares as of September 30, 2010 (which is expected to be the average number of shares during the 2H of fiscal 2010) is used. |
| It does not take into account any increase in the number of shares of common stock due to requests for acquisition (conversion) of the Eleventh Series Class XI Preferred Stock in the 2H of fiscal 2010. |
4. | Others (Please refer to Other Information on page 1-3 of [Attachment] for details.) |
(1) Changes in Significant Subsidiaries during the Period: No
(Note) Above are the changes in specified subsidiaries accompanying changes in the scope of consolidation during the period.
(2) Changes in Accounting Methods and Presentation of Consolidated Financial Statements
Changes due to revisions of accounting standards, etc.: Yes
Changes other than above: No
(Note) | Above are the changes of accounting methods and presentation of interim consolidated financial statements which are to be described in the changes of fundamental and important matters for the preparation of Interim Consolidated Financial Statements. |
(3) Issued Shares of Common Stock
Period-end issued shares (including treasury stock): | |
As of September 30, 2010: As of March 31, 2010: |
|
|
21,539,573,760 shares; 15,494,397,690 shares |
| ||
Period-end treasury stock: | |
As of September 30, 2010: As of March 31, 2010: |
|
|
5,644,103 shares; 9,397,093 shares |
| ||
Average number of outstanding shares: |
|
1st Half of Fiscal 2010: 1st Half of Fiscal 2009: |
|
|
17,846,169,840 shares; 12,743,594,595 shares |
|
Non-consolidated Financial Statements
1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2010 (for the six months ended September 30, 2010)
(1) Non-Consolidated Results of Operations | (%: Changes from the previous first half) | |||||||||||||||||||||||||||||||
Operating Income | Operating Profits | Ordinary Profits | Net Income | |||||||||||||||||||||||||||||
¥ million | % | ¥ million | % | ¥ million | % | ¥ million | % | |||||||||||||||||||||||||
1H F2010 |
32,606 | 66.3 | 22,991 | 130.6 | 16,770 | 450.1 | 16,585 | 436.1 | ||||||||||||||||||||||||
1H F2009 |
19,607 | (95.4 | ) | 9,968 | (97.6 | ) | 3,048 | (99.2 | ) | 3,093 | (99.3 | ) | ||||||||||||||||||||
Net Income per Share of Common Stock |
||||||||||||||||||||||||||||||||
¥ | ||||||||||||||||||||||||||||||||
1H F2010 |
0.92 | |||||||||||||||||||||||||||||||
1H F2009 |
0.24 |
(2) Non-Consolidated Financial Conditions
Total Assets | Total Net Assets | Own Capital Ratio | Total Net Assets per Share of Common Stock |
|||||||||||||
¥ million | ¥ million | % | ¥ | |||||||||||||
1H F2010 |
5,979,975 | 4,645,179 | 77.6 | 191.35 | ||||||||||||
Fiscal 2009 |
5,225,971 | 4,011,146 | 76.7 | 223.59 |
Reference: |
1. Own Capital: As of September 30, 2010: ¥4,643,393 million; As of March 31, 2010: ¥4,009,502 million | |
2. Maximum amount available for dividends as of September 30, 2010: ¥1,414,778 million; As of March 31, 2010: ¥1,549,745 million | ||
(Note) Maximum amount available for dividends is calculated pursuant to Article 461, Paragraph 2 of the Company Law. |
(Presentation of Implementation Status of Interim Review Procedure)
The semi-annual audit procedure of consolidated and non-consolidated interim financial statements based on the Financial Instruments and Exchange Law has not been completed at the time of the disclosure of these 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 Management Policy and 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 InformationRisk 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 SECs 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 and interim non-consolidated financial statements in the second quarter.
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:
Cash Dividends per Share | ||||||||||||||||||||||||
(Record Date) |
First Quarter-end | Second Quarter-end | Third Quarter-end | Fiscal Year-end | Total | |||||||||||||||||||
¥ | ¥ | ¥ | ¥ | ¥ | ||||||||||||||||||||
Eleventh Series Class XI Preferred Stock |
||||||||||||||||||||||||
Fiscal 2009 |
| 0.00 | | 20.00 | 20.00 | |||||||||||||||||||
Fiscal 2010 |
| 0.00 | ||||||||||||||||||||||
Fiscal 2010 (estimate) |
| 20.00 | 20.00 | |||||||||||||||||||||
Thirteenth Series Class XIII Preferred Stock |
||||||||||||||||||||||||
Fiscal 2009 |
| 0.00 | | 30.00 | 30.00 | |||||||||||||||||||
Fiscal 2010 |
| 0.00 | ||||||||||||||||||||||
Fiscal 2010 (estimate) |
| 30.00 | 30.00 |
mContents of Attachment
1. | Qualitative Information related to Financial Results | p.1-2 | ||||
(1) Qualitative Information related to Consolidated Results of Operations | p.1-2 | |||||
(2) Qualitative Information related to Consolidated Financial Conditions | p.1-2 | |||||
(3) Qualitative Information related to Consolidated Earnings Estimates | p.1-2 | |||||
2. | Other Information | p.1-3 | ||||
(1) Changes in Significant Subsidiaries | p.1-3 | |||||
(2) Changes in Accounting Methods and Presentation | p.1-3 | |||||
3. | Interim Consolidated Financial Statements | p.1-4 | ||||
(1) Consolidated Balance Sheets | p.1-4 | |||||
(2) Consolidated Statements of Income | p.1-6 | |||||
(3) Consolidated Statements of Changes in Net Assets | p.1-7 | |||||
(4) Note for Assumption of Going Concern | p.1-9 | |||||
4. | Interim Non-Consolidated Financial Statements | p.1-10 | ||||
(1) Non-Consolidated Balance Sheets | p.1-10 | |||||
(2) Non-Consolidated Statements of Income | p.1-11 | |||||
(3) Non-Consolidated Statements of Changes in Net Assets | p.1-12 | |||||
(4) Note for Assumption of Going Concern | p.1-13 |
[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.
A MHFG IR conference for institutional investors and analysts is scheduled for November 24, 2010 (Wednesday). 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
1. QUALITATIVE INFORMATION RELATED TO FINANCIAL RESULTS
(Please refer to Summary Results for the Second Quarter (First Half) of Fiscal 2010 on page 2-1 for more information.)
(1) Qualitative Information related to Consolidated Results of Operations
Reviewing the economic environment over the past six months ended September 30, 2010, there are indications of a slowing of the continuing gradual recovery in the global economy which has been led by newly developing countries, and there is a heightened risk of a slackening in the economy mainly in Europe and the United States as global fiscal tightening makes its impact.
In the United States, a sustained recovery is taking place on the basis of steady capital investment and positive trends in consumer spending, but business performance- and employment-related indices have been slow to improve and there is a risk of a stalling in economic growth. In Europe, economic growth is stagnant as consumer spending remains weak with long-term labor force adjustments and so on, added to which the difficulty in predicting the effect of the fiscal problems experienced by certain countries on the financial markets and the real economy and so on means that there exists a distinct lack of visibility regarding the future of the global economy. In Asia, the increase in demand in the Chinese market has a knock-on effect in inducing an increase in exports and production activity in neighboring economies, and while the pace of growth is slowing, the region is maintaining strong economic growth.
In Japan, although positive growth is being maintained as corporate profits improve among other factors, the mild deflationary situation is continuing and the sharp appreciation of the value of the yen against other currencies continues its course and so on, leading to a stalling in improvements in the economy. There are several causes for concern over the future direction of the economy in addition to how the various stimulus programs will lose their effectiveness going forward, there are also the risks of a slowing in economies abroad and a worsening in the employment situation, combining with the fluctuations in exchange rates to serve as a drag on economic growth.
In light of this economic environment, we will aim to further enhance our corporate value through the steady implementation of our Transformation Program, which consists of the program for improving profitability, the program for enhancing financial base and the program for strengthening front-line business capabilities.
Under the above economic environment, Net Income for the six months ended September 30, 2010 amounted to ¥341.7 billion, increasing by ¥253.9 billion from the corresponding period of the previous fiscal year.
(2) Qualitative Information related to Consolidated Financial Conditions
Consolidated total assets as of September 30, 2010 amounted to ¥157,754.4 billion, increasing by ¥1,500.8 billion from the end of the previous fiscal year.
Net Assets amounted to ¥6,689.2 billion, increasing by ¥852.2 billion from the end of the previous fiscal year. Shareholders Equity amounted to ¥4,176.4 billion, Valuation and Translation Adjustments amounted to ¥212.6 billion and Minority Interests amounted to ¥2,297.3 billion.
In Assets, the balance of Loans and Bills Discounted amounted to ¥62,069.8 billion, decreasing by ¥94.6 billion from the end of the previous fiscal year while Securities were ¥44,159.2 billion, increasing by ¥1,062.8 billion from the end of the previous fiscal year. In Liabilities, Deposits amounted to ¥75,612.0 billion, decreasing by ¥727.7 billion from the end of the previous fiscal year.
The Consolidated Capital Adequacy Ratio (Basel II BIS Standard) was 15.40% (preliminary).
March 31, 2009 | March 31, 2010 | September 30, 2010 | ||||
Basel II |
10.53% | 13.46% | 15.40% |
(3) Qualitative Information related to Consolidated Earnings Estimates
Based on the financial results for the second quarter of fiscal 2010, MHFG estimates Ordinary Profits of ¥670.0 billion (an increase of ¥100.0 billion from the estimate which was announced on May 14, 2010) and Net Income of ¥500.0 billion (an increase of ¥70.0 billion from the same estimate above) for fiscal 2010.
The above estimates constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Please see the forward-looking statements legend for a description of the factors that could affect our ability to meet these estimates.
1-2
2. Other Information
(1) Changes in Significant Subsidiaries
(Changes in specified subsidiaries accompanying changes in scope of consolidation during the period.)
There is no applicable information.
(2) Changes in Accounting Methods and Presentation
[Changes in Accounting Methods]
(Accounting Standard for Financial Instruments)
Mizuho Financial Group has applied Accounting Standard for Financial Instruments (ASBJ Statement No.10, March 10, 2008) and Guidance on Disclosures about Fair Value of Financial Instruments (ASBJ Guidance No.19, March 10, 2008) from the end of the previous fiscal year.
As a result, Other Debt Purchased increased by ¥684 million, Securities increased by ¥26,317 million, Deferred Tax Assets decreased by ¥11,769 million, Reserves for Possible Losses on Loans decreased by ¥17,678 million, Net Unrealized Gains (Losses) on Other Securities, net of Taxes increased by ¥17,408 million, Minority Interests increased by ¥160 million, Income before Income Taxes and Minority Interests increased by ¥595 million, and Net Income increased by ¥596 million compared with the corresponding amounts under the previously applied method.
(Adoption of Accounting Standard for Equity Method of Accounting for Investments and Practical Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity Method)
Mizuho Financial Group has applied Accounting Standard for Equity Method of Accounting for Investments (ASBJ Statement No. 16, March 10, 2008) and Practical Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity Method (PITF No. 24, March 10, 2008) beginning with this interim period.
This application does not affect the financial statements.
(Adoption of Accounting Standard for Asset Retirement Obligations)
Mizuho Financial Group has applied Accounting Standard for Asset Retirement Obligations (ASBJ Statement No. 18, March 31, 2008) and Guidance on Accounting Standard for Asset Retirement Obligations (ASBJ Guidance No. 21, March 31, 2008) beginning with this interim period.
As a result, Income before Income Taxes and Minority Interests decreased by ¥3,445 million. The change in Asset Retirement Obligations (which is in Other Liabilities) due to commencement of application of the accounting standards is ¥6,257 million.
[Additional Information]
(Issuance of New Shares by the Spread Method)
The spread method is adopted for the issuance of new shares (5,609,000 thousand shares) with a payment date of July 21, 2010. This is a method where the new shares are underwritten and purchased by the initial purchasers at the amount to be paid to MHFG (¥125.27 per share), and sold by the underwriters to the investors at an issue price (¥130.00 per share) different from the amount to be paid to MHFG.
Using the spread method, the aggregate amount of the difference between (a) the issue price and (b) the amount to be paid to MHFG is retained by the initial purchasers, and allocated to each of the underwriters as underwriting fees. Accordingly, Other Ordinary Expenses does not include the amount equivalent to such underwriting fees of ¥26,530 million related to the issuance.
The amount equivalent to such underwriting fees of ¥9,734 million, recognized as profit by consolidated subsidiaries, is eliminated and recorded as an increase in Capital Surplus.
1-3
3. INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(1) CONSOLIDATED BALANCE SHEETS
Millions of yen | ||||||||||||
As of September 30, 2009 |
As of September 30, 2010 |
As of March 31, 2010 (Selected Items) |
||||||||||
Assets |
||||||||||||
Cash and Due from Banks |
¥ | 4,921,251 | ¥ | 3,650,486 | ¥ | 5,211,477 | ||||||
Call Loans and Bills Purchased |
119,821 | 290,921 | 605,238 | |||||||||
Receivables under Resale Agreements |
8,726,629 | 8,389,628 | 7,129,676 | |||||||||
Guarantee Deposits Paid under Securities Borrowing Transactions |
5,654,671 | 6,376,329 | 5,744,901 | |||||||||
Other Debt Purchased |
2,329,381 | 1,801,283 | 2,040,445 | |||||||||
Trading Assets |
15,565,593 | 15,463,760 | 13,986,791 | |||||||||
Money Held in Trust |
114,708 | 102,452 | 119,438 | |||||||||
Securities |
37,938,463 | 44,159,283 | 43,096,460 | |||||||||
Loans and Bills Discounted |
64,267,283 | 62,069,897 | 62,164,579 | |||||||||
Foreign Exchange Assets |
539,477 | 779,968 | 707,803 | |||||||||
Derivatives other than for Trading Assets |
7,329,310 | 7,123,116 | 7,060,302 | |||||||||
Other Assets |
3,670,516 | 3,104,688 | 3,742,205 | |||||||||
Tangible Fixed Assets |
914,016 | 942,494 | 927,337 | |||||||||
Intangible Fixed Assets |
398,120 | 424,974 | 427,278 | |||||||||
Deferred Tax Assets |
625,718 | 459,541 | 533,030 | |||||||||
Customers Liabilities for Acceptances and Guarantees |
3,689,546 | 3,459,319 | 3,643,706 | |||||||||
Reserves for Possible Losses on Loans |
(942,063 | ) | (843,664 | ) | (887,073 | ) | ||||||
Reserve for Possible Losses on Investments |
(4,576 | ) | (17 | ) | (29 | ) | ||||||
Total Assets |
¥ | 155,857,870 | ¥ | 157,754,464 | ¥ | 156,253,572 | ||||||
1-4
Millions of yen | ||||||||||||
As of September 30, 2009 |
As of September 30, 2010 |
As of March 31, 2010 (Selected Items) |
||||||||||
Liabilities |
||||||||||||
Deposits |
¥ | 74,877,022 | ¥ | 75,612,075 | ¥ | 76,339,779 | ||||||
Negotiable Certificates of Deposit |
9,073,581 | 10,531,592 | 10,287,808 | |||||||||
Debentures |
1,917,442 | 1,127,527 | 1,517,797 | |||||||||
Call Money and Bills Sold |
6,316,744 | 5,493,654 | 5,786,370 | |||||||||
Payables under Repurchase Agreements |
14,007,069 | 12,443,878 | 12,075,802 | |||||||||
Guarantee Deposits Received under Securities Lending Transactions |
5,773,990 | 6,319,242 | 6,615,512 | |||||||||
Trading Liabilities |
8,845,953 | 8,631,124 | 7,579,695 | |||||||||
Borrowed Money |
9,366,974 | 9,941,009 | 9,663,867 | |||||||||
Foreign Exchange Liabilities |
200,046 | 205,619 | 172,990 | |||||||||
Short-term Bonds |
494,095 | 524,597 | 492,397 | |||||||||
Bonds and Notes |
4,721,679 | 5,001,381 | 4,970,257 | |||||||||
Due to Trust Accounts |
1,045,344 | 1,032,497 | 1,025,431 | |||||||||
Derivatives other than for Trading Liabilities |
6,475,620 | 6,231,233 | 6,614,116 | |||||||||
Other Liabilities |
3,188,466 | 4,282,603 | 3,376,769 | |||||||||
Reserve for Bonus Payments |
39,784 | 34,143 | 48,946 | |||||||||
Reserve for Employee Retirement Benefits |
33,333 | 35,733 | 34,263 | |||||||||
Reserve for Director and Corporate Auditor Retirement Benefits |
1,841 | 2,049 | 2,112 | |||||||||
Reserve for Possible Losses on Sales of Loans |
27,666 | 2,815 | 15,258 | |||||||||
Reserve for Contingencies |
15,112 | 14,120 | 14,809 | |||||||||
Reserve for Reimbursement of Deposits |
14,371 | 14,912 | 14,748 | |||||||||
Reserve for Reimbursement of Debentures |
9,760 | 11,615 | 10,824 | |||||||||
Reserves under Special Laws |
2,187 | 1,376 | 2,149 | |||||||||
Deferred Tax Liabilities |
10,585 | 12,497 | 12,226 | |||||||||
Deferred Tax Liabilities for Revaluation Reserve for Land |
103,681 | 98,583 | 98,875 | |||||||||
Acceptances and Guarantees |
3,689,546 | 3,459,319 | 3,643,706 | |||||||||
Total Liabilities |
¥ | 150,251,905 | ¥ | 151,065,208 | ¥ | 150,416,519 | ||||||
Net Assets |
||||||||||||
Common Stock and Preferred Stock |
¥ | 1,805,565 | ¥ | 2,181,375 | ¥ | 1,805,565 | ||||||
Capital Surplus |
552,135 | 937,680 | 552,135 | |||||||||
Retained Earnings |
696,088 | 1,060,637 | 854,703 | |||||||||
Treasury Stock |
(5,183 | ) | (3,195 | ) | (5,184 | ) | ||||||
Total Shareholders Equity |
3,048,605 | 4,176,496 | 3,207,219 | |||||||||
Net Unrealized Gains on Other Securities, net of Taxes |
116,406 | 32,505 | 176,931 | |||||||||
Net Deferred Hedge Gains, net of Taxes |
69,733 | 142,572 | 83,093 | |||||||||
Revaluation Reserve for Land, net of Taxes |
145,447 | 137,952 | 138,430 | |||||||||
Foreign Currency Translation Adjustments |
(93,230 | ) | (100,371 | ) | (92,623 | ) | ||||||
Total Valuation and Translation Adjustments |
238,357 | 212,659 | 305,831 | |||||||||
Stock Acquisition Rights |
2,307 | 2,778 | 2,301 | |||||||||
Minority Interests |
2,316,695 | 2,297,321 | 2,321,700 | |||||||||
Total Net Assets |
5,605,965 | 6,689,256 | 5,837,053 | |||||||||
Total Liabilities and Net Assets |
¥ | 155,857,870 | ¥ | 157,754,464 | ¥ | 156,253,572 | ||||||
1-5
(2) CONSOLIDATED STATEMENTS OF INCOME
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 (Selected Items) |
||||||||||
Ordinary Income |
¥ | 1,485,032 | ¥ | 1,449,871 | ¥ | 2,817,625 | ||||||
Interest Income |
816,397 | 733,453 | 1,571,994 | |||||||||
Interest on Loans and Bills Discounted |
553,527 | 454,147 | 1,047,718 | |||||||||
Interest and Dividends on Securities |
171,872 | 179,472 | 350,536 | |||||||||
Fiduciary Income |
24,150 | 24,058 | 49,100 | |||||||||
Fee and Commission Income |
269,596 | 271,146 | 557,312 | |||||||||
Trading Income |
197,911 | 177,612 | 312,330 | |||||||||
Other Operating Income |
73,294 | 185,542 | 179,021 | |||||||||
Other Ordinary Income |
103,681 | 58,058 | 147,866 | |||||||||
Ordinary Expenses |
1,381,242 | 1,026,042 | 2,490,498 | |||||||||
Interest Expenses |
235,319 | 179,908 | 420,287 | |||||||||
Interest on Deposits |
93,535 | 58,381 | 164,334 | |||||||||
Interest on Debentures |
6,714 | 3,986 | 11,959 | |||||||||
Fee and Commission Expenses |
47,571 | 51,976 | 91,271 | |||||||||
Other Operating Expenses |
93,261 | 59,031 | 161,584 | |||||||||
General and Administrative Expenses |
657,751 | 639,393 | 1,317,247 | |||||||||
Other Ordinary Expenses |
347,338 | 95,731 | 500,107 | |||||||||
Ordinary Profits |
103,789 | 423,829 | 327,127 | |||||||||
Extraordinary Gains |
98,649 | 34,961 | 118,259 | |||||||||
Extraordinary Losses |
58,255 | 7,713 | 67,621 | |||||||||
Income before Income Taxes and Minority Interests |
144,183 | 451,076 | 377,765 | |||||||||
Income Taxes: |
||||||||||||
Current |
15,542 | 11,236 | 25,253 | |||||||||
Refund of Income Taxes |
(3,897 | ) | (7,212 | ) | ||||||||
Deferred |
(10,773 | ) | 47,250 | 25,108 | ||||||||
Total Income Taxes |
871 | 58,486 | 43,148 | |||||||||
Net Income before Minority Interests |
143,312 | 392,590 | 334,617 | |||||||||
Minority Interests in Net Income |
55,505 | 50,831 | 95,212 | |||||||||
Net Income |
¥ | 87,806 | ¥ | 341,759 | ¥ | 239,404 | ||||||
1-6
(3) CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 |
||||||||||
Shareholders Equity |
||||||||||||
Common Stock and Preferred Stock |
||||||||||||
Balance as of the end of the previous period |
¥ | 1,540,965 | ¥ | 1,805,565 | ¥ | 1,540,965 | ||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
264,600 | 375,810 | 264,600 | |||||||||
Total Changes during the period |
264,600 | 375,810 | 264,600 | |||||||||
Balance as of the end of the period |
1,805,565 | 2,181,375 | 1,805,565 | |||||||||
Capital Surplus |
||||||||||||
Balance as of the end of the previous period |
411,318 | 552,135 | 411,318 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
271,729 | 385,544 | 271,729 | |||||||||
Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary |
(130,913 | ) | | (130,913 | ) | |||||||
Total Changes during the period |
140,816 | 385,544 | 140,816 | |||||||||
Balance as of the end of the period |
552,135 | 937,680 | 552,135 | |||||||||
Retained Earnings |
||||||||||||
Balance as of the end of the previous period |
608,053 | 854,703 | 608,053 | |||||||||
Changes during the period |
||||||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
87,806 | 341,759 | 239,404 | |||||||||
Disposition of Treasury Stock |
(661 | ) | (1,314 | ) | (662 | ) | ||||||
Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary |
130,913 | | 130,913 | |||||||||
Transfer from Revaluation Reserve for Land, net of Taxes |
992 | 455 | 8,010 | |||||||||
Total Changes during the period |
88,035 | 205,934 | 246,649 | |||||||||
Balance as of the end of the period |
696,088 | 1,060,637 | 854,703 | |||||||||
Treasury Stock |
||||||||||||
Balance as of the end of the previous period |
(6,218 | ) | (5,184 | ) | (6,218 | ) | ||||||
Changes during the period |
||||||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
1,037 | 1,989 | 1,038 | |||||||||
Total Changes during the period |
1,034 | 1,988 | 1,033 | |||||||||
Balance as of the end of the period |
¥ | (5,183 | ) | ¥ | (3,195 | ) | ¥ | (5,184 | ) | |||
1-7
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 |
||||||||||
Total Shareholders Equity |
||||||||||||
Balance as of the end of the previous period |
¥ | 2,554,119 | ¥ | 3,207,219 | ¥ | 2,554,119 | ||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
536,329 | 761,354 | 536,329 | |||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
87,806 | 341,759 | 239,404 | |||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
376 | 675 | 376 | |||||||||
Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary |
| | | |||||||||
Transfer from Revaluation Reserve for Land, net of Taxes |
992 | 455 | 8,010 | |||||||||
Total Changes during the period |
494,486 | 969,277 | 653,100 | |||||||||
Balance as of the end of the period |
3,048,605 | 4,176,496 | 3,207,219 | |||||||||
Valuation and Translation Adjustments |
||||||||||||
Net Unrealized Gains on Other Securities, net of Taxes |
||||||||||||
Balance as of the end of the previous period |
(519,574 | ) | 176,931 | (519,574 | ) | |||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
635,980 | (144,425 | ) | 696,505 | ||||||||
Total Changes during the period |
635,980 | (144,425 | ) | 696,505 | ||||||||
Balance as of the end of the period |
116,406 | 32,505 | 176,931 | |||||||||
Net Deferred Hedge Gains, net of Taxes |
||||||||||||
Balance as of the end of the previous period |
67,525 | 83,093 | 67,525 | |||||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
2,208 | 59,478 | 15,568 | |||||||||
Total Changes during the period |
2,208 | 59,478 | 15,568 | |||||||||
Balance as of the end of the period |
69,733 | 142,572 | 83,093 | |||||||||
Revaluation Reserve for Land, net of Taxes |
||||||||||||
Balance as of the end of the previous period |
146,447 | 138,430 | 146,447 | |||||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
(999 | ) | (477 | ) | (8,017 | ) | ||||||
Total Changes during the period |
(999 | ) | (477 | ) | (8,017 | ) | ||||||
Balance as of the end of the period |
¥ | 145,447 | ¥ | 137,952 | ¥ | 138,430 | ||||||
1-8
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 |
||||||||||
Foreign Currency Translation Adjustments |
||||||||||||
Balance as of the end of the previous period |
¥ | (114,765 | ) | ¥ | (92,623 | ) | ¥ | (114,765 | ) | |||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
21,535 | (7,748 | ) | 22,141 | ||||||||
Total Changes during the period |
21,535 | (7,748 | ) | 22,141 | ||||||||
Balance as of the end of the period |
(93,230 | ) | (100,371 | ) | (92,623 | ) | ||||||
Total Valuation and Translation Adjustments |
||||||||||||
Balance as of the end of the previous period |
(420,367 | ) | 305,831 | (420,367 | ) | |||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
658,725 | (93,171 | ) | 726,199 | ||||||||
Total Changes during the period |
658,725 | (93,171 | ) | 726,199 | ||||||||
Balance as of the end of the period |
238,357 | 212,659 | 305,831 | |||||||||
Stock Acquisition Rights |
||||||||||||
Balance as of the end of the previous period |
1,187 | 2,301 | 1,187 | |||||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
1,119 | 476 | 1,113 | |||||||||
Total Changes during the period |
1,119 | 476 | 1,113 | |||||||||
Balance as of the end of the period |
2,307 | 2,778 | 2,301 | |||||||||
Minority Interests |
||||||||||||
Balance as of the end of the previous period |
2,051,667 | 2,321,700 | 2,051,667 | |||||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
265,027 | (24,379 | ) | 270,033 | ||||||||
Total Changes during the period |
265,027 | (24,379 | ) | 270,033 | ||||||||
Balance as of the end of the period |
2,316,695 | 2,297,321 | 2,321,700 | |||||||||
Total Net Assets |
||||||||||||
Balance as of the end of the previous period |
4,186,606 | 5,837,053 | 4,186,606 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
536,329 | 761,354 | 536,329 | |||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
87,806 | 341,759 | 239,404 | |||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
376 | 675 | 376 | |||||||||
Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary |
| | | |||||||||
Transfer from Revaluation Reserve for Land, net of Taxes |
992 | 455 | 8,010 | |||||||||
Net Changes in Items other than Shareholders Equity |
924,872 | (117,074 | ) | 997,346 | ||||||||
Total Changes during the period |
1,419,358 | 852,203 | 1,650,446 | |||||||||
Balance as of the end of the period |
¥ | 5,605,965 | ¥ | 6,689,256 | ¥ | 5,837,053 | ||||||
(4) NOTE FOR ASSUMPTION OF GOING CONCERN
There is no applicable information.
1-9
4. INTERIM NON-CONSOLIDATED FINANCIAL STATEMENTS
(1) NON-CONSOLIDATED BALANCE SHEETS
Millions of yen | ||||||||||||
As of September 30, 2009 |
As of September 30, 2010 |
As of March 31, 2010 (Selected Items) |
||||||||||
Assets |
||||||||||||
Current Assets |
||||||||||||
Cash and Due from Banks |
¥ | 12,322 | ¥ | 10,395 | ¥ | 15,133 | ||||||
Securities |
| 751,620 | | |||||||||
Accounts Receivable |
808 | 3,488 | 858 | |||||||||
Other Current Assets |
3,397 | 9,069 | 4,735 | |||||||||
Total Current Assets |
16,528 | 774,573 | 20,727 | |||||||||
Fixed Assets |
||||||||||||
Tangible Fixed Assets |
1,276 | 1,546 | 1,205 | |||||||||
Intangible Fixed Assets |
3,708 | 3,261 | 3,679 | |||||||||
Investments |
5,208,975 | 5,200,595 | 5,200,357 | |||||||||
Investments in Subsidiaries and Affiliates |
5,233,951 | 5,187,202 | 5,187,202 | |||||||||
Other Investments |
7,880 | 13,392 | 13,155 | |||||||||
Reserve for Possible Losses on Investments |
(32,856 | ) | | | ||||||||
Total Fixed Assets |
5,213,961 | 5,205,402 | 5,205,243 | |||||||||
Total Assets |
¥ | 5,230,489 | ¥ | 5,979,975 | ¥ | 5,225,971 | ||||||
Liabilities |
||||||||||||
Current Liabilities |
||||||||||||
Short-term Borrowings |
¥ | 700,000 | ¥ | 700,000 | ¥ | 700,000 | ||||||
Short-term Bonds |
270,000 | 380,000 | 260,000 | |||||||||
Accrued Corporate Taxes |
65 | 65 | 93 | |||||||||
Reserve for Bonus Payments |
260 | 260 | 259 | |||||||||
Other Current Liabilities |
5,197 | 5,659 | 6,209 | |||||||||
Total Current Liabilities |
975,523 | 1,085,985 | 966,562 | |||||||||
Non-Current Liabilities |
||||||||||||
Bonds and Notes |
240,000 | 240,000 | 240,000 | |||||||||
Reserve for Employee Retirement Benefits |
1,360 | 1,622 | 1,470 | |||||||||
Asset Retirement Obligations |
| 639 | | |||||||||
Other Non-Current Liabilities |
2,751 | 6,549 | 6,792 | |||||||||
Total Non-Current Liabilities |
244,111 | 248,810 | 248,262 | |||||||||
Total Liabilities |
1,219,635 | 1,334,796 | 1,214,824 | |||||||||
Net Assets |
||||||||||||
Shareholders Equity |
||||||||||||
Common Stock and Preferred Stock |
1,805,565 | 2,181,375 | 1,805,565 | |||||||||
Capital Surplus |
||||||||||||
Capital Reserve |
649,841 | 1,025,651 | 649,841 | |||||||||
Total Capital Surplus |
649,841 | 1,025,651 | 649,841 | |||||||||
Retained Earnings |
||||||||||||
Appropriated Reserve |
4,350 | 4,350 | 4,350 | |||||||||
Other Retained Earnings |
1,554,688 | 1,435,279 | 1,554,974 | |||||||||
Retained Earnings Brought Forward |
1,554,688 | 1,435,279 | 1,554,974 | |||||||||
Total Retained Earnings |
1,559,038 | 1,439,629 | 1,559,324 | |||||||||
Treasury Stock |
(5,183 | ) | (3,195 | ) | (5,184 | ) | ||||||
Total Shareholders Equity |
4,009,261 | 4,643,460 | 4,009,546 | |||||||||
Valuation and Translation Adjustments |
||||||||||||
Net Unrealized Gains (Losses) on Other Securities, net of Taxes |
(51 | ) | (66 | ) | (44 | ) | ||||||
Total Valuation and Translation Adjustments |
(51 | ) | (66 | ) | (44 | ) | ||||||
Stock Acquisition Rights |
1,643 | 1,786 | 1,643 | |||||||||
Total Net Assets |
4,010,853 | 4,645,179 | 4,011,146 | |||||||||
Total Liabilities and Net Assets |
¥ | 5,230,489 | ¥ | 5,979,975 | ¥ | 5,225,971 | ||||||
1-10
(2) NON-CONSOLIDATED STATEMENTS OF INCOME
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 (Selected Items) |
||||||||||
Operating Income |
¥ | 19,607 | ¥ | 32,606 | ¥ | 33,792 | ||||||
Operating Expenses |
||||||||||||
General and Administrative Expenses |
9,638 | 9,615 | 19,807 | |||||||||
Total Operating Expenses |
9,638 | 9,615 | 19,807 | |||||||||
Operating Profits |
9,968 | 22,991 | 13,984 | |||||||||
Non-Operating Income |
2,700 | 5,622 | 5,753 | |||||||||
Non-Operating Expenses |
9,620 | 11,843 | 18,650 | |||||||||
Ordinary Profits |
3,048 | 16,770 | 1,086 | |||||||||
Extraordinary Gains |
| | 2,227 | |||||||||
Extraordinary Losses |
3 | 202 | 17 | |||||||||
Income before Income Taxes |
3,044 | 16,567 | 3,296 | |||||||||
Income Taxes: |
||||||||||||
Current |
2 | 2 | 4 | |||||||||
Deferred |
(50 | ) | (20 | ) | (88 | ) | ||||||
Total Income Taxes |
(48 | ) | (17 | ) | (83 | ) | ||||||
Net Income |
¥ | 3,093 | ¥ | 16,585 | ¥ | 3,379 | ||||||
1-11
(3) NON-CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 |
||||||||||
Shareholders Equity |
||||||||||||
Common Stock and Preferred Stock |
||||||||||||
Balance as of the end of the previous period |
¥ | 1,540,965 | ¥ | 1,805,565 | ¥ | 1,540,965 | ||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
264,600 | 375,810 | 264,600 | |||||||||
Total Changes during the period |
264,600 | 375,810 | 264,600 | |||||||||
Balance as of the end of the period |
1,805,565 | 2,181,375 | 1,805,565 | |||||||||
Capital Surplus |
||||||||||||
Capital Reserve |
||||||||||||
Balance as of the end of the previous period |
385,241 | 649,841 | 385,241 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
264,600 | 375,810 | 264,600 | |||||||||
Total Changes during the period |
264,600 | 375,810 | 264,600 | |||||||||
Balance as of the end of the period |
649,841 | 1,025,651 | 649,841 | |||||||||
Total Capital Surplus |
||||||||||||
Balance as of the end of the previous period |
385,241 | 649,841 | 385,241 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
264,600 | 375,810 | 264,600 | |||||||||
Total Changes during the period |
264,600 | 375,810 | 264,600 | |||||||||
Balance as of the end of the period |
649,841 | 1,025,651 | 649,841 | |||||||||
Retained Earnings |
||||||||||||
Appropriated Reserve |
||||||||||||
Balance as of the end of the previous period |
4,350 | 4,350 | 4,350 | |||||||||
Changes during the period |
||||||||||||
Total Changes during the period |
| | | |||||||||
Balance as of the end of the period |
4,350 | 4,350 | 4,350 | |||||||||
Other Retained Earnings |
||||||||||||
Retained Earnings Brought Forward |
||||||||||||
Balance as of the end of the previous period |
1,683,272 | 1,554,974 | 1,683,272 | |||||||||
Changes during the period |
||||||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
3,093 | 16,585 | 3,379 | |||||||||
Disposition of Treasury Stock |
(661 | ) | (1,314 | ) | (662 | ) | ||||||
Total Changes during the period |
(128,583 | ) | (119,695 | ) | (128,297 | ) | ||||||
Balance as of the end of the period |
1,554,688 | 1,435,279 | 1,554,974 | |||||||||
Total Retained Earnings |
||||||||||||
Balance as of the end of the previous period |
1,687,622 | 1,559,324 | 1,687,622 | |||||||||
Changes during the period |
||||||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
3,093 | 16,585 | 3,379 | |||||||||
Disposition of Treasury Stock |
(661 | ) | (1,314 | ) | (662 | ) | ||||||
Total Changes during the period |
(128,583 | ) | (119,695 | ) | (128,297 | ) | ||||||
Balance as of the end of the period |
¥ | 1,559,038 | ¥ | 1,439,629 | ¥ | 1,559,324 | ||||||
1-12
Millions of yen | ||||||||||||
For the six months ended September 30, 2009 |
For the six months ended September 30, 2010 |
For the fiscal year ended March 31, 2010 |
||||||||||
Treasury Stock |
||||||||||||
Balance as of the end of the previous period |
¥ | (6,218 | ) | ¥ | (5,184 | ) | ¥ | (6,218 | ) | |||
Changes during the period |
||||||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
1,037 | 1,989 | 1,038 | |||||||||
Total Changes during the period |
1,034 | 1,988 | 1,033 | |||||||||
Balance as of the end of the period |
(5,183 | ) | (3,195 | ) | (5,184 | ) | ||||||
Total Shareholders Equity |
||||||||||||
Balance as of the end of the previous period |
3,607,610 | 4,009,546 | 3,607,610 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
529,200 | 751,620 | 529,200 | |||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
3,093 | 16,585 | 3,379 | |||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
376 | 675 | 376 | |||||||||
Total Changes during the period |
401,650 | 633,913 | 401,936 | |||||||||
Balance as of the end of the period |
4,009,261 | 4,643,460 | 4,009,546 | |||||||||
Valuation and Translation Adjustments |
||||||||||||
Net Unrealized Gains (Losses) on Other Securities, net of Taxes |
||||||||||||
Balance as of the end of the previous period |
(32 | ) | (44 | ) | (32 | ) | ||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
(19 | ) | (22 | ) | (12 | ) | ||||||
Total Changes during the period |
(19 | ) | (22 | ) | (12 | ) | ||||||
Balance as of the end of the period |
(51 | ) | (66 | ) | (44 | ) | ||||||
Stock Acquisition Rights |
||||||||||||
Balance as of the end of the previous period |
1,032 | 1,643 | 1,032 | |||||||||
Changes during the period |
||||||||||||
Net Changes in Items other than Shareholders Equity |
611 | 142 | 611 | |||||||||
Total Changes during the period |
611 | 142 | 611 | |||||||||
Balance as of the end of the period |
1,643 | 1,786 | 1,643 | |||||||||
Total Net Assets |
||||||||||||
Balance as of the end of the previous period |
3,608,611 | 4,011,146 | 3,608,611 | |||||||||
Changes during the period |
||||||||||||
Issuance of New Shares |
529,200 | 751,620 | 529,200 | |||||||||
Cash Dividends |
(131,015 | ) | (134,966 | ) | (131,015 | ) | ||||||
Net Income |
3,093 | 16,585 | 3,379 | |||||||||
Repurchase of Treasury Stock |
(3 | ) | (1 | ) | (4 | ) | ||||||
Disposition of Treasury Stock |
376 | 675 | 376 | |||||||||
Net Changes in Items other than Shareholders Equity |
591 | 120 | 598 | |||||||||
Total Changes during the period |
402,242 | 634,033 | 402,534 | |||||||||
Balance as of the end of the period |
¥ | 4,010,853 | ¥ | 4,645,179 | ¥ | 4,011,146 | ||||||
(4) NOTE FOR ASSUMPTION OF GOING CONCERN
There is no applicable information.
1-13
Summary Results for the Second Quarter (First Half) of Fiscal 2010
I. Summary of Income Analysis
Ø | Consolidated Net Business Profits |
| Consolidated Gross Profits for the first half of fiscal 2010 increased by JPY 95.6 billion on a year-on-year basis to JPY 1,100.8 billion. |
Gross Profits of the banking subsidiaries increased by JPY 94.8 billion on a year-on-year basis (increased by JPY 139.8 billion after the adjustment of the impact for fiscal 2009 of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs). This is due to an increase in income from the Trading segment derived from flexible and timely operations properly interpreting market trends, in addition to a year-on-year increase in income from Customer Groups (JPY 22.0 billion), both domestically and overseas, arising mainly from non-interest income.
G&A expenses decreased by JPY 11.9 billion on a year-on-year basis mainly due to our overall cost reduction efforts.
| Aggregated consolidated Gross Profits (Net Operating Revenues) of our two securities subsidiaries (Mizuho Securities and Mizuho Investors Securities) decreased by JPY 19.3 billion on a year-on-year basis. |
| As a result, Consolidated Net Business Profits amounted to JPY 464.9 billion, a year-on-year increase of JPY 105.4 billion. |
Ø | Consolidated Net Income |
| Credit-related Costs of the 3 Banks amounted to a reversal of JPY 25.2 billion, an improvement of JPY142.2 billion on a year-on-year basis, primarily due to improved obligor classifications through our business revitalization support to corporate customers and other factors. Consolidated Credit-related Costs also amounted to a reversal of JPY 8.5 billion, an improvement of JPY 170.3 billion on a year-on-year basis. |
| Net Losses related to Stocks of the 3 Banks amounted to JPY 15.0 billion. This is mainly as a consequence of recording devaluation losses for certain stocks after a decline in stock prices, despite recording Gains on Sales through our efforts to reduce our stock portfolio. |
| As a result, Consolidated Net Income for the first half of fiscal 2010 increased by JPY 253.9 billion on a year-on-year basis to JPY 341.7 billion, which far exceeds our planned net income amount for the first half of fiscal 2010 (JPY 180 billion). |
(Consolidated)
1H of
FY2010 (Apr. 1 - Sep. 30, 2010) |
||||||||
Change from 1H of FY2009 |
||||||||
(JPY Bn) | ||||||||
Consolidated Gross Profits |
1,100.8 | 95.6 | ||||||
Consolidated Net Business Profits * |
464.9 | 105.4 | ||||||
Credit-related Costs |
8.5 | 170.3 | ||||||
Net Gains (Losses) related to Stocks |
-10.5 | -30.7 | ||||||
Ordinary Profits |
423.8 | 320.0 | ||||||
Net Income |
341.7 | 253.9 |
* | Consolidated Gross Profits - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments |
(Reference) 3 Banks
1H of FY2010 (Apr. 1 - Sep. 30, 2010) |
||||||||
Change from 1H of FY2009 |
||||||||
(JPY Bn) | ||||||||
Gross Profits |
885.4 | 94.8 | * | |||||
G&A Expenses (excluding Non-Recurring Losses) |
-440.3 | 11.9 | ||||||
Net Business Profits |
445.1 | 106.7 | * | |||||
Credit-related Costs |
25.2 | 142.2 | ||||||
Net Gains (Losses) related to Stocks |
-15.0 | -39.1 | ||||||
Ordinary Profits |
355.2 | 260.7 | ||||||
Net Income |
355.0 | 226.8 |
* | The results of 1H of FY2009 included the impact on banking subsidiaries (JPY 45.0 billion, eliminated on a consolidated basis) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs. After adjustment for this impact, the change from 1H of FY2009 for Gross Profits is JPY 139.8 billion, and that for Net Business Profits is JPY 151.8 billion, respectively |
2-1
Ø | Net Interest Income |
| The average loan balance for the first half of fiscal 2010 decreased by JPY 1.9 trillion from the second half of fiscal 2009. This is due to a decrease in domestic loans mainly to large corporate customers and overseas loans (including foreign exchange translation impact). |
| The domestic loan-and-deposit rate margin for the same period was 1.36% and slightly decreased by 0.03% from the second half of fiscal 2009, mainly due to a decline in the return on loans that followed the decline of market rates. |
Ø | Non-Interest Income |
| Non-interest income from Customer Groups of the 3 Banks (managerial accounting basis) for the first half of fiscal 2010 increased by JPY 30.8 billion on a year-on-year basis. |
| As well as income associated with investment trusts and individual annuities from individual customers substantially increasing on a year-on-year basis, income associated with foreign exchange business, overseas business, trust and asset management business of Mizuho Trust & Banking and other factors also increased. |
2-2
II. Financial Soundness
| The balance of Disclosed Claims under the Financial Reconstruction Law (3 Banks) decreased from that as of March 31, 2010. NPL Ratio also remained at a low level of 1.90%. |
| The balance of Consolidated Net Deferred Tax Assets decreased by JPY 73.7 billion from that as of March 31, 2010, and the ratio to Tier 1 Capital was 7.1%, a decline of 2.9% from March 31, 2010. |
| Our Consolidated Capital Adequacy Ratio was 15.40%, an improvement of 1.94% from that as of March 31, 2010. |
September 30, 2010 | ||||||||
Change from Mar. 31, 2010 |
||||||||
(JPY Bn, %) | ||||||||
Consolidated Capital Adequacy Ratio |
15.40 | % | 1.94 | % | ||||
(Total Risk-based Capital) |
(8,180.7 | ) | (522.6 | ) | ||||
Tier 1 Capital Ratio |
11.78 | % | 2.69 | % | ||||
(Tier 1 Capital) |
(6,260.1 | ) | (1,086.6 | ) | ||||
Net Deferred Tax Assets (DTAs) (Consolidated) |
447.0 | -73.7 | ||||||
Net DTAs / Tier 1 Ratio |
7.1 | % | -2.9 | % | ||||
Disclosed Claims under the Financial Reconstruction Law (3 Banks) |
1,302.0 | -17.8 | ||||||
NPL Ratio |
1.90 | % | -0.00 | % | ||||
(Net NPL Ratio *1) |
(0.85 | %) | (0.06 | %) | ||||
Unrealized Gains (Losses) on Other Securities (Consolidated) *2 |
102.4 | -165.2 |
*1 | (Disclosed Claims under the Financial Reconstruction Law - Reserves for Possible Losses on Loans)/(Total Claims - Reserves for Possible Losses on Loans) x 100 |
*2 | The base amount to be recorded directly to Net Assets after tax and other necessary adjustments |
III. Disciplined Capital Management
| In July 2010, we issued common stock (the number of shares issued: 6 billion shares, total amount paid: JPY 751.6 billion). This was aimed at establishing capital base as a cornerstone for our sustainable growth for the future, in anticipation of the revision of capital regulations. Meanwhile, we recorded Consolidated Net Income of JPY 341.7 billion for the first half of fiscal 2010. |
| It has become increasingly important for financial institutions to strengthen capital base amid the ongoing global discussions on the revision of capital regulations. Therefore, as our medium-term target, we aim to increase our consolidated Tier 1 capital ratio to 12% level and our prime capital(*1) ratio to 8% or above, and as of September 30, 2010, our consolidated Tier 1 capital ratio and our prime capital ratio were 11.78% and 8.10%, respectively, as a result of the common stock issuance and the enhanced Consolidated Net Income in the first half of fiscal 2010. |
| We announced Mizuhos Transformation Program in May 2010, and are addressing the issues for improving profitability and enhancing financial base. We will strive to further strengthen our financial base mainly by accumulating retained earnings and improving asset efficiency through the steady implementation of the Program. Accordingly, we believe we will be able to sufficiently meet new capital regulations. |
Our preliminary simulation indicates that a common equity capital ratio(*2) of mid-8% is assumed as of the end of fiscal 2012, when the new capital regulation will be implemented.
| We continue to pursue disciplined capital management policy, optimally balancing strengthening of stable capital base and steady returns to shareholders in accordance with changes in the business environment, our financial condition or other factors. |
(*1) | Prime Capital = Tier 1 capital - preferred debt securities - preferred stock (excluding mandatory convertible preferred stock) |
(*2) | Common equity capital ratio: calculated based on the inclusion of the Eleventh Series Class XI Preferred Stock(*3) that will be mandatorily converted in July 2016. |
At this moment, details - such as the calculation method for the capital adequacy ratio in the new capital regulation - have yet to be determined. Therefore, the estimates above are estimated by Mizuho Financial Group based on the publicly-available materials issued so far.
(*3) | The outstanding balance of Eleventh Series Class XI Preferred Stock as of September 30, 2010 (excluding treasury stock) was JPY 486.0 billion (48.5% out of JPY 943.7 billion of the initial amount issued had been already converted into common stock). |
2-3
Earnings Plan for Fiscal 2010
(Figures below are on a consolidated basis)
Ø | We plan Consolidated Net Business Profits for fiscal 2010 to be JPY 820.0 billion, an increase of JPY 70.0 billion compared with the original plan(*) based on the results for the first half of fiscal 2010 (an increase of JPY 117.3 billion compared with the previous fiscal year). |
We endeavor to further strengthen profitability primarily in non-interest income from Customer Groups of the banking subsidiaries mainly by enhancing further the group synergies.
(*) compared with the original plan announced on May 14, 2010
Ø | We anticipate Credit-related Costs to be JPY -85.0 billion, mainly by continued thorough credit management from the first half of fiscal 2010. |
Ø | Based on the above, we plan Consolidated Net Income to be JPY 500.0 billion, an increase of JPY 70.0 billion compared with the original plan. |
Ø | It has become increasingly important for financial institutions to strengthen capital base, and we plan to make cash dividend payments of JPY 6 per share of common stock for the fiscal year ending March 31, 2011, unchanged from our existing estimate, in consideration of the balance between strengthening of stable capital base and steady returns to shareholders. We plan to make dividend payments on preferred stock as prescribed. |
(Consolidated)
FY2010 (Plan) | ||||||||
Change from FY2009 |
||||||||
(JPY Bn) | ||||||||
Consolidated Net Business Profits* |
820.0 | 117.3 | ||||||
Credit-related Costs |
-85.0 | 134.3 | ||||||
Net Gains (Losses) related to Stocks |
-15.0 | -19.2 | ||||||
Ordinary Profits |
670.0 | 342.8 | ||||||
Net Income |
500.0 | 260.5 |
* | Consolidated Gross Profits - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments |
(Reference) 3 Banks
FY2010 (Plan) | ||||||||
Change from FY2009 |
||||||||
(JPY Bn) | ||||||||
Net Business Profits* |
770.0 | 84.0 | ||||||
Credit-related Costs |
-49.0 | 108.1 | ||||||
Net Gains (Losses) related to Stocks |
-15.0 | -25.9 | ||||||
Ordinary Profits |
555.0 | 249.3 | ||||||
Net Income |
506.0 | 192.8 |
* | The figure of FY2009 included the impact on banking subsidiaries (JPY 77.5 billion) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred securities by SPCs |
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 Management Policy and 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 SECs 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 and interim non-consolidated financial statements in the second quarter.
2-4
[Reference]
Breakdown of Earnings by Business Segment
[3 Banks] | 1H of FY2010 (Apr. 1 - Sep. 30, 2010) |
|||||||||||
Change from 1H of FY2009 |
||||||||||||
(JPY Bn) | ||||||||||||
Gross Profits |
611.0 | 22.0 | ||||||||||
G&A Expenses |
-355.6 | 4.4 | ||||||||||
Customer Groups |
255.3 | 26.4 | ||||||||||
Gross Profits |
274.4 | 72.8 | (117.9 | ) | ||||||||
G&A Expenses |
-84.6 | 7.5 | ||||||||||
Trading & Others |
189.7 | 80.2 | (125.3 | ) | ||||||||
Gross Profits |
885.4 | 94.8 | (139.8 | ) | ||||||||
G&A Expenses |
-440.3 | 11.9 | ||||||||||
Net Business Profits |
445.1 | 106.7 | (151.8 | ) |
(Note) | The figures in parentheses reflect the adjustment of the impact on banking subsidiaries (JPY 45.0 billion, eliminated on a consolidated basis) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs |
Definition
3 Banks: Aggregate figures for Mizuho Bank, Mizuho Corporate Bank and Mizuho Trust & Banking on a non-consolidated basis.
2-5
SELECTED FINANCIAL INFORMATION
For the Second Quarter (First Half) of Fiscal 2010
(Six months ended September 30, 2010)
<Under Japanese GAAP>
Mizuho Financial Group, Inc.
C O N T E N T S
Notes:
CON: Consolidated figures of Mizuho Financial Group, Inc. (MHFG).
NON(B): Non-consolidated figures of Mizuho Bank, Ltd. (MHBK), Mizuho Corporate Bank, Ltd. (MHCB) and Mizuho Trust & Banking Co., Ltd. (MHTB).
NON(B&R): Aggregated figures of the relevant banks including past figures for their former financial subsidiaries for corporate revitalization.
*MHBK, MHCB and MHTB merged with their own financial subsidiaries for corporate revitalization respectively, as of October 1, 2005.
HC: Non-consolidated figures of Mizuho Financial Group, Inc.
I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2010 |
See above Notes | Page | ||||||
1. Income Analysis |
CON | NON(B) | 3- 1 | |||||
2. Interest Margins (Domestic Operations) |
NON(B) | 3- 6 | ||||||
3. Use and Source of Funds |
NON(B) | 3- 7 | ||||||
4. Net Gains/Losses on Securities |
NON(B) | 3- 11 | ||||||
5. Unrealized Gains/Losses on Securities |
CON | NON(B) | 3- 13 | |||||
6. Projected Redemption Amounts for Securities |
NON(B) | 3- 15 | ||||||
7. Overview of Derivative Transactions Qualifying for Hedge Accounting |
NON(B) | 3- 16 | ||||||
8. Employee Retirement Benefits |
NON(B) | CON | 3- 17 | |||||
9. Capital Adequacy Ratio |
CON | 3- 19 | ||||||
II. REVIEW OF CREDITS |
See above Notes | Page | ||||||
1. Status of Non-Accrual, Past Due & Restructured Loans |
CON | NON(B) | 3- 21 | |||||
2. Status of Reserves for Possible Losses on Loans |
CON | NON(B) | 3- 23 | |||||
3. Reserve Ratios for Non-Accrual, Past Due & Restructured Loans |
CON | NON(B) | 3- 24 | |||||
4. Status of Disclosed Claims under the Financial Reconstruction Law (FRL) |
CON | NON(B) | 3- 25 | |||||
5. Coverage on Disclosed Claims under the FRL |
NON(B) | 3- 27 | ||||||
6. Overview of Non-Performing Loans(NPLs) |
NON(B) | 3- 30 | ||||||
7. Results of Removal of NPLs from the Balance Sheet |
NON(B&R) | 3- 31 | ||||||
8. Status of Loans by Industry |
||||||||
(1) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Industry |
NON(B) | 3- 33 | ||||||
(2) Disclosed Claims under the FRL and Coverage Ratio by Industry |
NON(B) | 3- 35 | ||||||
9. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises |
||||||||
(SMEs) and Individual Customers |
||||||||
(1) Balance of Housing and Consumer Loans |
NON(B) | 3- 36 | ||||||
(2) Loans to SMEs and Individual Customers |
NON(B) | 3- 36 | ||||||
10. Status of Loans by Region |
||||||||
(1) Balance of Loans to Restructuring Countries |
NON(B) | 3- 37 | ||||||
(2) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Region |
NON(B) | 3- 37 | ||||||
III. DEFERRED TAXES |
See above Notes | Page | ||||||
1. Change in Deferred Tax Assets, etc. |
CON | NON(B) | 3- 38 | |||||
2. Estimation of Deferred Tax Assets, etc. |
||||||||
(1) Calculation Policy |
NON(B) | 3- 39 | ||||||
(2) Estimation for Calculating Deferred Tax Assets |
NON(B) | 3- 40 |
IV. OTHERS |
See above Notes | Page | ||||||||
1. Breakdown of Deposits (Domestic Offices) |
NON(B) | 3- 44 | ||||||||
2. Number of Directors and Employees |
HC | NON(B) | 3- 45 | |||||||
3. Number of Branches and Offices |
NON(B) | 3- 46 | ||||||||
4. Earnings Plan for Fiscal 2010 |
CON | NON(B) | 3- 47 | |||||||
Attachments |
See above Notes | Page | ||||||||
Mizuho Bank, Ltd. |
||||||||||
Comparison of Non-Consolidated Balance Sheets (selected items) |
NON(B) | 3- 48 | ||||||||
Comparison of Non-Consolidated Statements of Income (selected items) |
NON(B) | 3- 49 | ||||||||
Non-Consolidated Statement of Changes in Net Assets |
NON(B) | 3- 50 | ||||||||
Mizuho Corporate Bank, Ltd. |
||||||||||
Comparison of Non-Consolidated Balance Sheets (selected items) |
NON(B) | 3- 51 | ||||||||
Comparison of Non-Consolidated Statements of Income (selected items) |
NON(B) | 3- 52 | ||||||||
Non-Consolidated Statement of Changes in Net Assets |
NON(B) | 3- 53 |
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 Management Policy and 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 InformationRisk 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 SECs 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.
I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2010
1. Income Analysis
Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2010 |
Change | First Half of Fiscal 2009 |
||||||||||||||
Consolidated Gross Profits |
1 | 1,100,896 | 95,698 | 1,005,198 | ||||||||||||
Net Interest Income |
2 | 553,544 | (27,534 | ) | 581,078 | |||||||||||
Fiduciary Income |
3 | 24,058 | (92 | ) | 24,150 | |||||||||||
Credit Costs for Trust Accounts |
4 | | | | ||||||||||||
Net Fee and Commission Income |
5 | 219,169 | (2,855 | ) | 222,025 | |||||||||||
Net Trading Income |
6 | 177,612 | (20,298 | ) | 197,911 | |||||||||||
Net Other Operating Income |
7 | 126,511 | 146,478 | (19,967 | ) | |||||||||||
General and Administrative Expenses |
8 | (639,393 | ) | 18,357 | (657,751 | ) | ||||||||||
Personnel Expenses |
9 | (312,781 | ) | 19,511 | (332,293 | ) | ||||||||||
Non-Personnel Expenses |
10 | (299,928 | ) | (72 | ) | (299,856 | ) | |||||||||
Miscellaneous Taxes |
11 | (26,683 | ) | (1,081 | ) | (25,601 | ) | |||||||||
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
12 | (29,982 | ) | 160,806 | (190,788 | ) | ||||||||||
Losses on Write-offs of Loans |
13 | (29,429 | ) | 40,139 | (69,568 | ) | ||||||||||
Reversal of (Provision for) Reserves for Possible Losses on Loans |
14 | | 111,922 | (111,922 | ) | |||||||||||
Net Gains (Losses) related to Stocks |
15 | (10,567 | ) | (30,793 | ) | 20,225 | ||||||||||
Equity in Income from Investments in Affiliates |
16 | 2,503 | 1,057 | 1,446 | ||||||||||||
Other |
17 | 372 | 74,912 | (74,540 | ) | |||||||||||
Ordinary Profits |
18 | 423,829 | 320,039 | 103,789 | ||||||||||||
Net Extraordinary Gains (Losses) |
19 | 27,247 | (13,145 | ) | 40,393 | |||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. |
20 | 38,543 | 9,544 | 28,998 | ||||||||||||
Reversal of Reserve for Possible Losses on Investments |
21 | 7 | 7 | | ||||||||||||
Income before Income Taxes and Minority Interests |
22 | 451,076 | 306,893 | 144,183 | ||||||||||||
Income Taxes - Current * |
23 | (11,236 | ) | 408 | (11,644 | ) | ||||||||||
- Deferred |
24 | (47,250 | ) | (58,023 | ) | 10,773 | ||||||||||
Net Income before Minority Interests |
25 | 392,590 | 249,278 | 143,312 | ||||||||||||
Minority Interests in Net Income |
26 | (50,831 | ) | 4,674 | (55,505 | ) | ||||||||||
Net Income |
27 | 341,759 | 253,952 | 87,806 | ||||||||||||
* | Income Taxes - Current [23] includes Refund of Income Taxes. |
Credit-related Costs (including Credit Costs for Trust Accounts) |
28 | 8,561 | 170,350 | (161,789 | ) | |||||||||||
* Credit-related Costs [28] = Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans ) [12] + Reversal of Reserves for Possible Losses on Loans, etc. [20] + Credit Costs for Trust Accounts [4] |
| |||||||||||||||
(Reference) | ||||||||||||||||
Consolidated Net Business Profits |
29 | 464,991 | 105,475 | 359,516 | ||||||||||||
* Consolidated Net Business Profits [29] = 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 |
30 | 163 | (1 | ) | 164 | |||||||||||
Number of affiliates under the equity method |
31 | 21 | (2 | ) | 23 |
3-1
Aggregated Figures of the 3 Banks
Non-Consolidated
(Millions of yen) | ||||||||||||||||||||||||||||
First Half of Fiscal 2010 | First Half of Fiscal 2009 |
|||||||||||||||||||||||||||
MHBK | MHCB | MHTB | Aggregated Figures |
Change | ||||||||||||||||||||||||
Gross Profits |
1 | 421,693 | 397,221 | 66,538 | 885,453 | 94,804 | 790,648 | |||||||||||||||||||||
Domestic Gross Profits |
2 | 360,060 | 177,617 | 62,323 | 600,001 | 22,435 | 577,566 | |||||||||||||||||||||
Net Interest Income |
3 | 273,537 | 108,651 | 18,240 | 400,429 | (26,429 | ) | 426,858 | ||||||||||||||||||||
Fiduciary Income |
4 | 23,806 | 23,806 | 8 | 23,797 | |||||||||||||||||||||||
Credit Costs for Trust Accounts |
5 | | | | | |||||||||||||||||||||||
Net Fee and Commission Income |
6 | 68,361 | 29,064 | 13,387 | 110,813 | 6,848 | 103,965 | |||||||||||||||||||||
Net Trading Income |
7 | 1,865 | 9,413 | 2,659 | 13,937 | (5,004 | ) | 18,942 | ||||||||||||||||||||
Net Other Operating Income |
8 | 16,295 | 30,488 | 4,230 | 51,014 | 47,011 | 4,003 | |||||||||||||||||||||
International Gross Profits |
9 | 61,633 | 219,603 | 4,214 | 285,451 | 72,369 | 213,082 | |||||||||||||||||||||
Net Interest Income |
10 | 12,347 | 96,185 | 2,043 | 110,577 | (23,191 | ) | 133,769 | ||||||||||||||||||||
Net Fee and Commission Income |
11 | 5,526 | 27,426 | (23 | ) | 32,929 | 819 | 32,109 | ||||||||||||||||||||
Net Trading Income |
12 | 40,798 | 36,779 | (1,221 | ) | 76,356 | 1,064 | 75,291 | ||||||||||||||||||||
Net Other Operating Income |
13 | 2,960 | 59,211 | 3,416 | 65,588 | 93,676 | (28,088 | ) | ||||||||||||||||||||
General and Administrative Expenses (excluding Non-Recurring Losses) |
14 | (279,368 | ) | (116,517 | ) | (44,465 | ) | (440,350 | ) | 11,950 | (452,301 | ) | ||||||||||||||||
Expense Ratio |
15 | 66.2 | % | 29.3 | % | 66.8 | % | 49.7 | % | (7.4 | %) | 57.2 | % | |||||||||||||||
Personnel Expenses |
16 | (93,812 | ) | (40,794 | ) | (16,978 | ) | (151,585 | ) | 7,661 | (159,247 | ) | ||||||||||||||||
Non-Personnel Expenses |
17 | (169,783 | ) | (69,691 | ) | (26,206 | ) | (265,681 | ) | 5,401 | (271,082 | ) | ||||||||||||||||
Premium for Deposit Insurance |
18 | (23,231 | ) | (3,579 | ) | (1,350 | ) | (28,161 | ) | (921 | ) | (27,239 | ) | |||||||||||||||
Miscellaneous Taxes |
19 | (15,771 | ) | (6,031 | ) | (1,280 | ) | (23,083 | ) | (1,111 | ) | (21,971 | ) | |||||||||||||||
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) *1 |
20 | 142,325 | 280,703 | 22,073 | 445,102 | 106,755 | 338,347 | |||||||||||||||||||||
Excluding Net Gains (Losses) related to Bonds |
21 | 113,452 | 190,876 | 14,492 | 318,821 | (3,170 | ) | 321,992 | ||||||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
22 | | | 504 | 504 | (24,997 | ) | 25,502 | ||||||||||||||||||||
Net Business Profits |
23 | 142,325 | 280,703 | 22,578 | 445,607 | 81,757 | 363,849 | |||||||||||||||||||||
Net Gains (Losses) related to Bonds |
24 | 28,872 | 89,826 | 7,581 | 126,281 | 109,926 | 16,354 | |||||||||||||||||||||
Net Non-Recurring Gains (Losses) |
25 | (53,041 | ) | (30,224 | ) | (7,051 | ) | (90,317 | ) | 179,015 | (269,333 | ) | ||||||||||||||||
Net Gains (Losses) related to Stocks |
26 | (6,258 | ) | (7,865 | ) | (904 | ) | (15,029 | ) | (39,133 | ) | 24,104 | ||||||||||||||||
Expenses related to Portfolio Problems |
27 | (25,306 | ) | (3,656 | ) | (1,916 | ) | (30,879 | ) | 138,903 | (169,783 | ) | ||||||||||||||||
Other |
28 | (21,476 | ) | (18,701 | ) | (4,230 | ) | (44,408 | ) | 79,246 | (123,654 | ) | ||||||||||||||||
Ordinary Profits |
29 | 89,283 | 250,479 | 15,526 | 355,289 | 260,773 | 94,516 | |||||||||||||||||||||
Net Extraordinary Gains (Losses) |
30 | 25,312 | 19,029 | 449 | 44,790 | 20,970 | 23,820 | |||||||||||||||||||||
Net Gains (Losses) on Disposition of Fixed Assets |
31 | (732 | ) | (785 | ) | (43 | ) | (1,560 | ) | 786 | (2,347 | ) | ||||||||||||||||
Losses on Impairment of Fixed Assets |
32 | (1,633 | ) | (814 | ) | (2 | ) | (2,451 | ) | 268 | (2,719 | ) | ||||||||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. |
33 | 28,113 | 27,513 | 35 | 55,662 | 28,340 | 27,322 | |||||||||||||||||||||
Reversal of Reserve for Possible Losses on Investments |
34 | 9 | 83 | | 93 | 93 | | |||||||||||||||||||||
Income before Income Taxes |
35 | 114,595 | 269,508 | 15,976 | 400,080 | 281,744 | 118,336 | |||||||||||||||||||||
Income Taxes - Current *2 |
36 | (247 | ) | (4,670 | ) | (4 | ) | (4,922 | ) | (4,142 | ) | (780 | ) | |||||||||||||||
- Deferred |
37 | 12,669 | (49,142 | ) | (3,675 | ) | (40,148 | ) | (50,728 | ) | 10,579 | |||||||||||||||||
Net Income |
38 | 127,017 | 215,695 | 12,297 | 355,009 | 226,873 | 128,135 | |||||||||||||||||||||
*1.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]. *2.Income Taxes - Current [36] includes Refund of Income Taxes. |
| |||||||||||||||||||||||||||
Credit-related Costs |
39 | 2,807 | 23,856 | (1,376 | ) | 25,288 | 142,246 | (116,958 | ) | |||||||||||||||||||
* Credit-related Costs [39] = Expenses related to Portfolio Problems [27] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [22] + Reversal of Reserves for Possible Losses on Loans, etc. [33] + Credit Costs for Trust Accounts [5] |
| |||||||||||||||||||||||||||
(Reference) Breakdown of Credit-related Costs |
|
|||||||||||||||||||||||||||
Credit Costs for Trust Accounts |
40 | | | | | |||||||||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
41 | 16,341 | 18,183 | 504 | 35,029 | 9,527 | 25,502 | |||||||||||||||||||||
Losses on Write-offs of Loans |
42 | (8,439 | ) | 4,244 | (1,408 | ) | (5,602 | ) | 37,602 | (43,205 | ) | |||||||||||||||||
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans |
43 | (4,229 | ) | 791 | (508 | ) | (3,946 | ) | 87,038 | (90,984 | ) | |||||||||||||||||
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries |
44 | | 161 | 0 | 161 | 34 | 126 | |||||||||||||||||||||
Reversal of (Provision for) Reserve for Contingencies |
45 | | 606 | 35 | 641 | (633 | ) | 1,274 | ||||||||||||||||||||
Other (including Losses on Sales of Loans) |
46 | (865 | ) | (129 | ) | | (995 | ) | 8,677 | (9,672 | ) | |||||||||||||||||
Total |
47 | 2,807 | 23,856 | (1,376 | ) | 25,288 | 142,246 | (116,958 | ) |
3-2
Mizuho Bank
Non-Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2010 |
Change | First Half of Fiscal 2009 |
||||||||||||||
Gross Profits |
1 | 421,693 | 13,469 | 408,224 | ||||||||||||
Domestic Gross Profits |
2 | 360,060 | (8,137 | ) | 368,198 | |||||||||||
Net Interest Income |
3 | 273,537 | (22,997 | ) | 296,535 | |||||||||||
Net Fee and Commission Income |
4 | 68,361 | 4,788 | 63,572 | ||||||||||||
Net Trading Income |
5 | 1,865 | (853 | ) | 2,718 | |||||||||||
Net Other Operating Income |
6 | 16,295 | 10,924 | 5,371 | ||||||||||||
International Gross Profits |
7 | 61,633 | 21,607 | 40,026 | ||||||||||||
Net Interest Income |
8 | 12,347 | (2,877 | ) | 15,224 | |||||||||||
Net Fee and Commission Income |
9 | 5,526 | 544 | 4,982 | ||||||||||||
Net Trading Income |
10 | 40,798 | (1,347 | ) | 42,145 | |||||||||||
Net Other Operating Income |
11 | 2,960 | 25,287 | (22,326 | ) | |||||||||||
General and Administrative Expenses (excluding Non-Recurring Losses) |
12 | (279,368 | ) | 5,637 | (285,005 | ) | ||||||||||
Expense Ratio |
13 | 66.2 | % | (3.5 | %) | 69.8 | % | |||||||||
Personnel Expenses |
14 | (93,812 | ) | 4,247 | (98,060 | ) | ||||||||||
Non-Personnel Expenses |
15 | (169,783 | ) | 2,329 | (172,112 | ) | ||||||||||
Premium for Deposit Insurance |
16 | (23,231 | ) | (635 | ) | (22,595 | ) | |||||||||
Miscellaneous Taxes |
17 | (15,771 | ) | (939 | ) | (14,831 | ) | |||||||||
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
18 | 142,325 | 19,106 | 123,218 | ||||||||||||
Excluding Net Gains (Losses) related to Bonds |
19 | 113,452 | (7,231 | ) | 120,684 | |||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
20 | | (2,368 | ) | 2,368 | |||||||||||
Net Business Profits |
21 | 142,325 | 16,738 | 125,587 | ||||||||||||
Net Gains (Losses) related to Bonds |
22 | 28,872 | 26,338 | 2,534 | ||||||||||||
Net Non-Recurring Gains (Losses) |
23 | (53,041 | ) | 53,471 | (106,512 | ) | ||||||||||
Net Gains (Losses) related to Stocks |
24 | (6,258 | ) | 304 | (6,562 | ) | ||||||||||
Expenses related to Portfolio Problems |
25 | (25,306 | ) | 43,424 | (68,730 | ) | ||||||||||
Other |
26 | (21,476 | ) | 9,742 | (31,219 | ) | ||||||||||
Ordinary Profits |
27 | 89,283 | 70,209 | 19,074 | ||||||||||||
Net Extraordinary Gains (Losses) |
28 | 25,312 | 10,174 | 15,137 | ||||||||||||
Net Gains (Losses) on Disposition of Fixed Assets |
29 | (732 | ) | 836 | (1,569 | ) | ||||||||||
Losses on Impairment of Fixed Assets |
30 | (1,633 | ) | (1,332 | ) | (301 | ) | |||||||||
Reversal of Reserves for Possible Losses on Loans, etc. |
31 | 28,113 | 11,612 | 16,501 | ||||||||||||
Reversal of Reserve for Possible Losses on Investments |
32 | 9 | 9 | | ||||||||||||
Income before Income Taxes |
33 | 114,595 | 80,384 | 34,211 | ||||||||||||
Income Taxes - Current |
34 | (247 | ) | 23 | (271 | ) | ||||||||||
- Deferred |
35 | 12,669 | (7,223 | ) | 19,892 | |||||||||||
Net Income |
36 | 127,017 | 73,184 | 53,833 | ||||||||||||
Credit-related Costs |
37 | 2,807 | 52,668 | (49,860 | ) | |||||||||||
* Credit-related Costs [37] = Expenses related to Portfolio Problems [25] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [20] + Reversal of Reserves for Possible Losses on Loans, etc. [31] |
| |||||||||||||||
(Reference) Breakdown of Credit-related Costs |
||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
38 | 16,341 | 13,973 | 2,368 | ||||||||||||
Losses on Write-offs of Loans |
39 | (8,439 | ) | 15,282 | (23,721 | ) | ||||||||||
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans |
40 | (4,229 | ) | 22,348 | (26,577 | ) | ||||||||||
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries |
41 | | | | ||||||||||||
Reversal of (Provision for) Reserve for Contingencies |
42 | | | | ||||||||||||
Other (including Losses on Sales of Loans) |
43 | (865 | ) | 1,064 | (1,929 | ) | ||||||||||
Total |
44 | 2,807 | 52,668 | (49,860 | ) |
3-3
Mizuho Corporate Bank
Non-Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2010 |
Change | First Half of Fiscal 2009 |
||||||||||||||
Gross Profits |
1 | 397,221 | 78,574 | 318,646 | ||||||||||||
Domestic Gross Profits |
2 | 177,617 | 27,381 | 150,236 | ||||||||||||
Net Interest Income |
3 | 108,651 | (766 | ) | 109,417 | |||||||||||
Net Fee and Commission Income |
4 | 29,064 | 679 | 28,384 | ||||||||||||
Net Trading Income |
5 | 9,413 | (5,154 | ) | 14,568 | |||||||||||
Net Other Operating Income |
6 | 30,488 | 32,622 | (2,133 | ) | |||||||||||
International Gross Profits |
7 | 219,603 | 51,193 | 168,409 | ||||||||||||
Net Interest Income |
8 |