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 2011
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 14, 2011 | ||
Mizuho Financial Group, Inc. | ||
By: | /s/ Takeo Nakano | |
Name: | Takeo Nakano | |
Title: | Managing Director / CFO |
For Immediate Release: | November 14, 2011 |
Financial Statements for the Second Quarter of Fiscal 2011 (Six months ended September 30, 2011) <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: |
Yasuhiro Sato President & CEO | |||||||
For Inquiry: |
Hisaaki Hirama General Manager of Accounting | |||||||
Phone: +81-3-5224-2030 |
Filing of Shihanki Hokokusho (scheduled): |
November 28, 2011 | Trading Accounts: Established | ||||
Commencement of Dividend Payment (scheduled): |
December 7, 2011 |
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 2011
(for the six months ended September 30, 2011)
(1) Consolidated Results of Operations
(%: Changes from the previous first half) | ||||||||||||||||||||||||
Ordinary Income | Ordinary Profits | Net Income | ||||||||||||||||||||||
¥ million | % | ¥ million | % | ¥ million | % | |||||||||||||||||||
1H F2011 |
1,344,326 | (7.2 | ) | 256,467 | (39.4 | ) | 254,665 | (25.4 | ) | |||||||||||||||
1H F2010 |
1,449,871 | (2.3 | ) | 423,829 | 308.3 | 341,759 | 289.2 |
Note: Comprehensive Income: 1H F2011: ¥177,529 million, (39.6)%; 1H F2010: ¥294,024 million, -%
Net Income per Share of Common Stock |
Diluted Net Income per Share of Common Stock |
|||||||
¥ | ¥ | |||||||
1H F2011 |
11.28 | 10.76 | ||||||
1H F2010 |
19.15 | 17.50 |
(2) Consolidated Financial Conditions
Total Assets | Total Net Assets | Own Capital Ratio | Consolidated Capital Adequacy Ratio (BIS Standard) |
|||||||||||||
¥ million | ¥ million | % | % | |||||||||||||
1H F2011 |
161,286,878 | 6,518,929 | 2.8 | 14.92 | ||||||||||||
Fiscal 2010 |
160,812,006 | 6,623,999 | 2.6 | 15.30 |
Reference: |
Own Capital: As of September 30, 2011: ¥4,568,035 million; As of March 31, 2011: ¥4,329,116 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, 2011 is a preliminary figure. |
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 2010 |
| 0.00 | | 6.00 | 6.00 | |||||||||||||||
Fiscal 2011 |
| 3.00 | ||||||||||||||||||
Fiscal 2011 (estimate) |
| 3.00 | 6.00 |
Notes: | 1. | Revision of the latest announced estimates for cash dividends for shareholders of common stock: No | ||
2. | Please refer to the following Cash Dividends for Shareholders of Classified Stock for cash dividends for shareholders of classified stock (unlisted), the rights of which are different from those of common stock. |
3. Consolidated Earnings Estimates for Fiscal 2011 (for the fiscal year ending March 31, 2012)
(%: Changes from the previous fiscal year) | ||||||||||||||||
Net Income | Net Income per Share of Common Stock |
|||||||||||||||
¥ million | % | ¥ | ||||||||||||||
Fiscal 2011 |
460,000 | 11.3 | 19.55 |
Notes: | 1. | Revision of the latest announced earnings estimates for fiscal 2011: No | ||
2. | The number of shares of common stock used in the above calculation is based on the following: |
| The average of the average number of shares during the 1H Fiscal 2011 and the number of shares as of September 30, 2011 (which is expected to be the average number of shares during the 2H of fiscal 2011) 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 2011. |
4. Others
(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
Changes in accounting policies due to revisions of accounting standards, etc.: No
Changes in accounting policies other than above: No
Changes in accounting estimates: No
Restatements: No
(3) Issued Shares of Common Stock
Period-end issued shares (including treasury stock): |
|
As of September 30, 2011 As of March 31, 2011 |
|
|
24,013,550,567 shares 21,782,185,320 shares |
| ||
Period-end treasury stock: |
|
As of September 30, 2011 As of March 31, 2011 |
|
|
85,754,990 shares 5,656,647 shares |
| ||
Average number of outstanding shares: |
|
1st Half of Fiscal 2011 1st Half of Fiscal 2010 |
|
|
22,181,330,433 shares 17,846,169,840 shares |
|
Non-consolidated Financial Statements
1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2011
(for the six months ended September 30, 2011)
(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 F2011 |
22,910 | (29.7 | ) | 12,502 | (45.6 | ) | 9,145 | (45.4 | ) | 9,050 | (45.4 | ) | ||||||||||||||||||||
1H F2010 |
32,606 | 66.3 | 22,991 | 130.6 | 16,770 | 450.1 | 16,585 | 436.1 | ||||||||||||||||||||||||
Net Income per Share of Common Stock |
||||||||||||||||||||||||||||||||
¥ | ||||||||||||||||||||||||||||||||
1H F2011 |
0.21 | |||||||||||||||||||||||||||||||
1H F2010 |
0.92 |
(2) Non-Consolidated Financial Conditions
Total Assets | Total Net Assets | Own Capital Ratio | ||||||||||
¥ million | ¥ million | % | ||||||||||
1H F2011 |
6,152,970 | 4,754,636 | 77.2 | |||||||||
Fiscal 2010 |
6,035,158 | 4,652,883 | 77.0 |
Reference: |
1. Own Capital: As of September 30, 2011: ¥4,753,617 million; As of March 31, 2011: ¥4,651,097 million | |
2. Maximum amount available for dividends as of September 30, 2011: ¥1,293,907 million; As of March 31, 2011: ¥1,434,007 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:
Annual 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 2010 |
| 0.00 | | 20.00 | 20.00 | |||||||||||||||||
Fiscal 2011 |
| 10.00 | ||||||||||||||||||||
Fiscal 2011 (estimate) |
| 10.00 | 20.00 | |||||||||||||||||||
Thirteenth Series Class XIII Preferred Stock |
||||||||||||||||||||||
Fiscal 2010 |
| 0.00 | | 30.00 | 30.00 | |||||||||||||||||
Fiscal 2011 |
| 15.00 | ||||||||||||||||||||
Fiscal 2011 (estimate) |
| 15.00 | 30.00 |
Mizuho Financial Group, Inc.
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. | Interim Consolidated Financial Statements | p.1-3 | ||||
(1) Consolidated Balance Sheets | p.1-3 | |||||
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income | p.1-5 | |||||
(3) Consolidated Statements of Changes in Net Assets | p.1-7 | |||||
(4) Note for Assumption of Going Concern | p.1-10 | |||||
(5) Additional Information | p.1-10 | |||||
3. | Interim Non-Consolidated Financial Statements | p.1-11 | ||||
(1) Non-Consolidated Balance Sheets | p.1-11 | |||||
(2) Non-Consolidated Statements of Income | p.1-12 | |||||
(3) Non-Consolidated Statements of Changes in Net Assets | p.1-13 | |||||
(4) Note for Assumption of Going Concern | p.1-14 |
[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 21, 2011 (Monday). It will be broadcasted live on the Internet and its presentation materials will also 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. Qualitative Information related to Financial Results
(Please refer to Summary Results for the Second Quarter (First Half) of Fiscal 2011 on page 2-1 for more information.)
(1) Qualitative Information related to Consolidated Results of Operations
Reviewing the economic environment during the second quarter of fiscal 2011, while the United States is experiencing an extremely weak recovery, in Europe there is uncertainty in the financial system against the backdrop of the fiscal problems experienced by certain countries, which is gradually impacting the real economy. Thus overall, the recovery in the global economy is weakening.
In the United States, the recovery in the economy is extremely weak as the housing market and employment conditions continue to be sluggish. Regarding the future of the U.S. economy, the risk remains of a slackening in the economy with a further decline in housing prices and rising unemployment and others. With the fiscal constraints imposed by the debt ceiling, there is uncertainty going forward, including the ability to implement further economic stimulus measures. In Europe, the problem of sovereign risk is becoming apparent against the backdrop of the fiscal problems experienced by certain counties, impacting the real economy, as well as casting uncertainty over the financial system. The future of the European economy holds little prospect of a drastic speedy fix for the Euro-areas debt problems, and the situation makes it difficult to say exactly what the effects will be on the global economy. In Asia, the increase in demand in the Chinese market has had an impact, inducing an increase in exports and production activity in neighboring economies. While the pace of growth is slowing somewhat, the region continues to maintain strong economic growth, although signs of a decline in growth are beginning to appear as the slowdown in the U.S. and the European economies takes effect.
In Japan, despite the continuing recovery from the sharp decline in the economy resulting from the impact of the Great Eastern Japan Earthquake, the weakness of the recovery in the overseas economies is leading to a slow recovery in Japan. As for the future direction of the economy, while there are positive boosting factors such as the growing demand for restoring damaged capital assets, there are also several causes for concern, such as a slowing in economies overseas, the constraints of electricity shortages, fluctuations in foreign exchange and stock prices and prolonged deflation. So the risk remains that these factors may hold back economic growth.
Under the above economic environment, Net Income for the second quarter (first half) of the fiscal year ending March 31, 2012 amounted to ¥254.6 billion, decreasing by ¥87.0 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, 2011 amounted to ¥161,286.8 billion, increasing by ¥474.8 billion from the end of the previous fiscal year.
Net Assets amounted to ¥6,518.9 billion, decreasing by ¥105.0 billion from the end of the previous fiscal year. Shareholders Equity amounted to ¥4,601.3 billion, Accumulated Other Comprehensive Income amounted to ¥(33.3) billion and Minority Interests amounted to ¥1,949.8 billion.
In Assets, the balance of Loans and Bills Discounted amounted to ¥61,731.6 billion, decreasing by ¥1,046.1 billion from the end of the previous fiscal year while Securities were ¥47,554.4 billion, increasing by ¥2,772.4 billion from the end of the previous fiscal year. In Liabilities, Deposits amounted to ¥77,332.8 billion, decreasing by ¥1,901.0 billion from the end of the previous fiscal year.
The Consolidated Capital Adequacy Ratio (Basel II BIS Standard) was 14.92% (preliminary).
March 31, 2010 | March 31, 2011 | September 30, 2011 | ||||
Basel II |
13.46% | 15.30% | 14.92% |
(3) Qualitative Information related to Consolidated Earnings Estimates
Based on the financial results for the second quarter of fiscal 2011, MHFG estimates Ordinary Profits of ¥590.0 billion (a decrease of ¥70.0 billion from the estimate which was announced on May 13, 2011) and Net Income of ¥460.0 billion (no change from the same estimate above) for fiscal 2011.
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 at the beginning of this immediate release for a description of the factors that could affect our ability to meet these estimates.
1-2
Mizuho Financial Group, Inc.
2. INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(1) CONSOLIDATED BALANCE SHEETS
Millions of yen | ||||||||
As of March 31, 2011 |
As of September 30, 2011 |
|||||||
Assets |
||||||||
Cash and Due from Banks |
¥ | 9,950,913 | ¥ | 6,163,627 | ||||
Call Loans and Bills Purchased |
375,716 | 270,608 | ||||||
Receivables under Resale Agreements |
7,467,309 | 7,512,195 | ||||||
Guarantee Deposits Paid under Securities Borrowing Transactions |
6,541,512 | 6,118,870 | ||||||
Other Debt Purchased |
1,667,808 | 1,564,197 | ||||||
Trading Assets |
13,500,182 | 15,504,498 | ||||||
Money Held in Trust |
122,267 | 75,028 | ||||||
Securities |
44,782,067 | 47,554,498 | ||||||
Loans and Bills Discounted |
62,777,757 | 61,731,606 | ||||||
Foreign Exchange Assets |
977,465 | 1,022,902 | ||||||
Derivatives other than for Trading Assets |
5,102,760 | 5,685,544 | ||||||
Other Assets |
2,754,017 | 3,261,898 | ||||||
Tangible Fixed Assets |
947,986 | 931,819 | ||||||
Intangible Fixed Assets |
442,922 | 491,172 | ||||||
Deferred Tax Assets |
488,769 | 450,982 | ||||||
Customers' Liabilities for Acceptances and Guarantees |
3,673,339 | 3,667,333 | ||||||
Reserves for Possible Losses on Loans |
(760,762 | ) | (719,893 | ) | ||||
Reserve for Possible Losses on Investments |
(25 | ) | (11 | ) | ||||
|
|
|
|
|||||
Total Assets |
¥ | 160,812,006 | ¥ | 161,286,878 | ||||
|
|
|
|
1-3
Mizuho Financial Group, Inc.
Millions of yen | ||||||||
As
of March 31, 2011 |
As of September 30, 2011 |
|||||||
Liabilities |
||||||||
Deposits |
¥ | 79,233,922 | ¥ | 77,332,871 | ||||
Negotiable Certificates of Deposit |
9,650,236 | 11,160,993 | ||||||
Debentures |
740,932 | 25,932 | ||||||
Call Money and Bills Sold |
5,095,412 | 5,426,361 | ||||||
Payables under Repurchase Agreements |
11,656,119 | 11,505,439 | ||||||
Guarantee Deposits Received under Securities Lending Transactions |
5,488,585 | 8,698,140 | ||||||
Commercial Paper |
226,167 | 348,164 | ||||||
Trading Liabilities |
7,652,811 | 9,155,347 | ||||||
Borrowed Money |
15,969,385 | 12,299,213 | ||||||
Foreign Exchange Liabilities |
167,670 | 170,441 | ||||||
Short-term Bonds |
585,497 | 570,796 | ||||||
Bonds and Notes |
5,110,947 | 4,908,393 | ||||||
Due to Trust Accounts |
1,045,599 | 997,173 | ||||||
Derivatives other than for Trading Liabilities |
4,599,579 | 4,942,866 | ||||||
Other Liabilities |
3,053,136 | 3,333,057 | ||||||
Reserve for Bonus Payments |
39,336 | 29,722 | ||||||
Reserve for Employee Retirement Benefits |
35,615 | 36,312 | ||||||
Reserve for Director and Corporate Auditor Retirement Benefits |
2,239 | 1,993 | ||||||
Reserve for Possible Losses on Sales of Loans |
420 | 686 | ||||||
Reserve for Contingencies |
15,081 | 14,813 | ||||||
Reserve for Reimbursement of Deposits |
15,229 | 16,089 | ||||||
Reserve for Reimbursement of Debentures |
13,344 | 15,245 | ||||||
Reserves under Special Laws |
1,382 | 1,212 | ||||||
Deferred Tax Liabilities |
17,599 | 12,719 | ||||||
Deferred Tax Liabilities for Revaluation Reserve for Land |
98,415 | 96,625 | ||||||
Acceptances and Guarantees |
3,673,339 | 3,667,333 | ||||||
|
|
|
|
|||||
Total Liabilities |
154,188,007 | 154,767,949 | ||||||
|
|
|
|
|||||
Net Assets |
||||||||
Common Stock and Preferred Stock |
2,181,375 | 2,254,972 | ||||||
Capital Surplus |
937,680 | 1,109,779 | ||||||
Retained Earnings |
1,132,351 | 1,249,339 | ||||||
Treasury Stock |
(3,196 | ) | (12,712 | ) | ||||
|
|
|
|
|||||
Total Shareholders Equity |
4,248,209 | 4,601,378 | ||||||
|
|
|
|
|||||
Net Unrealized Gains (Losses) on Other Securities |
(21,648 | ) | (152,381 | ) | ||||
Deferred Gains or Losses on Hedges |
68,769 | 87,230 | ||||||
Revaluation Reserve for Land |
137,707 | 135,088 | ||||||
Foreign Currency Translation Adjustments |
(103,921 | ) | (103,281 | ) | ||||
|
|
|
|
|||||
Total Accumulated Other Comprehensive Income |
80,906 | (33,343 | ) | |||||
|
|
|
|
|||||
Stock Acquisition Rights |
2,754 | 1,019 | ||||||
Minority Interests |
2,292,128 | 1,949,875 | ||||||
|
|
|
|
|||||
Total Net Assets |
6,623,999 | 6,518,929 | ||||||
|
|
|
|
|||||
Total Liabilities and Net Assets |
¥ | 160,812,006 | ¥ | 161,286,878 | ||||
|
|
|
|
1-4
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, 2010 |
For the six months ended September 30, 2011 |
|||||||
Ordinary Income |
¥ | 1,449,871 | ¥ | 1,344,326 | ||||
Interest Income |
733,453 | 693,324 | ||||||
Interest on Loans and Bills Discounted |
454,147 | 435,294 | ||||||
Interest and Dividends on Securities |
179,472 | 167,052 | ||||||
Fiduciary Income |
24,058 | 24,507 | ||||||
Fee and Commission Income |
271,146 | 267,300 | ||||||
Trading Income |
177,612 | 87,688 | ||||||
Other Operating Income |
185,542 | 187,294 | ||||||
Other Ordinary Income |
58,058 | 84,210 | ||||||
Ordinary Expenses |
1,026,042 | 1,087,858 | ||||||
Interest Expenses |
179,908 | 158,175 | ||||||
Interest on Deposits |
58,381 | 49,672 | ||||||
Interest on Debentures |
3,986 | 339 | ||||||
Fee and Commission Expenses |
56,171 | 55,968 | ||||||
Other Operating Expenses |
59,031 | 55,429 | ||||||
General and Administrative Expenses |
635,198 | 636,777 | ||||||
Other Ordinary Expenses |
95,731 | 181,507 | ||||||
|
|
|
|
|||||
Ordinary Profits |
423,829 | 256,467 | ||||||
|
|
|
|
|||||
Extraordinary Gains |
34,961 | 91,443 | ||||||
Extraordinary Losses |
7,713 | 4,277 | ||||||
|
|
|
|
|||||
Income before Income Taxes and Minority Interests |
451,076 | 343,634 | ||||||
|
|
|
|
|||||
Income Taxes: |
||||||||
Current |
11,236 | 21,043 | ||||||
Deferred |
47,250 | 25,991 | ||||||
Total Income Taxes |
58,486 | 47,034 | ||||||
Net Income before Minority Interests |
392,590 | 296,599 | ||||||
Minority Interests in Net Income |
50,831 | 41,933 | ||||||
|
|
|
|
|||||
Net Income |
¥ | 341,759 | ¥ | 254,665 | ||||
|
|
|
|
1-5
Mizuho Financial Group, Inc.
[CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME]
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Income before Minority Interests |
¥ | 392,590 | ¥ | 296,599 | ||||
Other Comprehensive Income |
(98,566 | ) | (119,070 | ) | ||||
Net Unrealized Gains (Losses) on Other Securities |
(149,161 | ) | (136,627 | ) | ||||
Deferred Gains or Losses on Hedges |
60,003 | 18,788 | ||||||
Revaluation Reserve for Land |
(21 | ) | | |||||
Foreign Currency Translation Adjustments |
(9,206 | ) | (516 | ) | ||||
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method |
(180 | ) | (714 | ) | ||||
|
|
|
|
|||||
Comprehensive Income |
294,024 | 177,529 | ||||||
|
|
|
|
|||||
Comprehensive Income Attributable to Owners of the Parent |
249,043 | 143,034 | ||||||
Comprehensive Income Attributable to Minority Interests |
44,980 | 34,495 |
1-6
Mizuho Financial Group, Inc.
(3) CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Shareholders Equity |
||||||||
Common Stock and Preferred Stock |
||||||||
Balance as of the beginning of the period |
¥ | 1,805,565 | ¥ | 2,181,375 | ||||
Changes during the period |
||||||||
Issuance of New Shares |
375,810 | 350 | ||||||
Increase in Stock due to Share Exchange |
| 73,247 | ||||||
|
|
|
|
|||||
Total Changes during the period |
375,810 | 73,597 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
2,181,375 | 2,254,972 | ||||||
|
|
|
|
|||||
Capital Surplus |
||||||||
Balance as of the beginning of the period |
552,135 | 937,680 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
385,544 | 350 | ||||||
Increase in Stock due to Share Exchange |
| 171,575 | ||||||
Disposition of Treasury Stock |
| 173 | ||||||
|
|
|
|
|||||
Total Changes during the period |
385,544 | 172,099 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
937,680 | 1,109,779 | ||||||
|
|
|
|
|||||
Retained Earnings |
||||||||
Balance as of the beginning of the period |
854,703 | 1,132,351 | ||||||
Changes during the period |
||||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
341,759 | 254,665 | ||||||
Disposition of Treasury Stock |
(1,314 | ) | (199 | ) | ||||
Transfer from Revaluation Reserve for Land |
455 | 2,618 | ||||||
|
|
|
|
|||||
Total Changes during the period |
205,934 | 116,987 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
1,060,637 | 1,249,339 | ||||||
|
|
|
|
|||||
Treasury Stock |
||||||||
Balance as of the beginning of the period |
(5,184 | ) | (3,196 | ) | ||||
Changes during the period |
||||||||
Increase in Stock due to Share Exchange |
| (13,318 | ) | |||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
1,989 | 3,804 | ||||||
|
|
|
|
|||||
Total Changes during the period |
1,988 | (9,515 | ) | |||||
|
|
|
|
|||||
Balance as of the end of the period |
¥ | (3,195 | ) | ¥ | (12,712 | ) | ||
|
|
|
|
1-7
Mizuho Financial Group, Inc.
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Total Shareholders Equity |
||||||||
Balance as of the beginning of the period |
¥ | 3,207,219 | ¥ | 4,248,209 | ||||
Changes during the period |
||||||||
Issuance of New Shares |
761,354 | 701 | ||||||
Increase in Stock due to Share Exchange |
| 231,504 | ||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
341,759 | 254,665 | ||||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
675 | 3,779 | ||||||
Transfer from Revaluation Reserve for Land |
455 | 2,618 | ||||||
|
|
|
|
|||||
Total Changes during the period |
969,277 | 353,168 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
4,176,496 | 4,601,378 | ||||||
|
|
|
|
|||||
Accumulated Other Comprehensive Income |
||||||||
Net Unrealized Gains (Losses) on Other Securities |
||||||||
Balance as of the beginning of the period |
176,931 | (21,648 | ) | |||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(144,425 | ) | (130,732 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(144,425 | ) | (130,732 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
32,505 | (152,381 | ) | |||||
|
|
|
|
|||||
Deferred Gains or Losses on Hedges |
||||||||
Balance as of the beginning of the period |
83,093 | 68,769 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
59,478 | 18,461 | ||||||
|
|
|
|
|||||
Total Changes during the period |
59,478 | 18,461 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
142,572 | 87,230 | ||||||
|
|
|
|
|||||
Revaluation Reserve for Land |
||||||||
Balance as of the beginning of the period |
138,430 | 137,707 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(477 | ) | (2,618 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(477 | ) | (2,618 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
¥ | 137,952 | ¥ | 135,088 | ||||
|
|
|
|
1-8
Mizuho Financial Group, Inc.
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Foreign Currency Translation Adjustments |
||||||||
Balance as of the beginning of the period |
¥ | (92,623 | ) | ¥ | (103,921 | ) | ||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(7,748 | ) | 640 | |||||
|
|
|
|
|||||
Total Changes during the period |
(7,748 | ) | 640 | |||||
|
|
|
|
|||||
Balance as of the end of the period |
(100,371 | ) | (103,281 | ) | ||||
|
|
|
|
|||||
Total Accumulated Other Comprehensive Income |
||||||||
Balance as of the beginning of the period |
305,831 | 80,906 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(93,171 | ) | (114,250 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(93,171 | ) | (114,250 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
212,659 | (33,343 | ) | |||||
|
|
|
|
|||||
Stock Acquisition Rights |
||||||||
Balance as of the beginning of the period |
2,301 | 2,754 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
476 | (1,735 | ) | |||||
|
|
|
|
|||||
Total Changes during the period |
476 | (1,735 | ) | |||||
|
|
|
|
|||||
Balance as of the end of the period |
2,778 | 1,019 | ||||||
|
|
|
|
|||||
Minority Interests |
||||||||
Balance as of the beginning of the period |
2,321,700 | 2,292,128 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(24,379 | ) | (342,253 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(24,379 | ) | (342,253 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
2,297,321 | 1,949,875 | ||||||
|
|
|
|
|||||
Total Net Assets |
||||||||
Balance as of the beginning of the period |
5,837,053 | 6,623,999 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
761,354 | 701 | ||||||
Increase in Stock due to Share Exchange |
| 231,504 | ||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
341,759 | 254,665 | ||||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
675 | 3,779 | ||||||
Transfer from Revaluation Reserve for Land |
455 | 2,618 | ||||||
Net Changes in Items other than Shareholders Equity |
(117,074 | ) | (458,238 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
852,203 | (105,069 | ) | |||||
|
|
|
|
|||||
Balance as of the end of the period |
¥ | 6,689,256 | ¥ | 6,518,929 | ||||
|
|
|
|
1-9
Mizuho Financial Group, Inc.
(4) NOTE FOR ASSUMPTION OF GOING CONCERN
There is no applicable information.
(5) ADDITIONAL INFORMATION
Mizuho Financial Group has applied Accounting Standard for Accounting Changes and Error Corrections (ASBJ Statement No.24, December 4, 2009) and Guidance on Accounting Standard for Accounting Changes and Error Corrections (ASBJ Guidance No.24, December 4, 2009) beginning with the treatment of accounting changes and corrections of prior period errors which are made after the beginning of this interim period.
Based on Practical Guidelines on Accounting Standards for Financial Instruments (JICPA Accounting Practice Committee Statement No.14), Reversal of Reserves for Possible Losses on Loans and Recovery on Written-off Claims have been recorded in Other Ordinary Income beginning with this interim period. However, retrospective application was not made for the previous interim period.
1-10
Mizuho Financial Group, Inc.
3. INTERIM NON-CONSOLIDATED FINANCIAL STATEMENTS
(1) NON-CONSOLIDATED BALANCE SHEETS
Millions of yen | ||||||||
As of March 31, 2011 |
As of September 30, 2011 |
|||||||
Assets |
||||||||
Current Assets |
||||||||
Cash and Due from Banks |
¥ | 16,490 | ¥ | 56,153 | ||||
Accounts Receivable |
3,540 | 1,471 | ||||||
Other Current Assets |
6,861 | 8,173 | ||||||
Total Current Assets |
26,892 | 65,798 | ||||||
Fixed Assets |
||||||||
Tangible Fixed Assets |
1,446 | 1,862 | ||||||
Intangible Fixed Assets |
3,202 | 2,887 | ||||||
Investments |
6,003,616 | 6,082,422 | ||||||
Investments in Subsidiaries and Affiliates |
5,938,822 | 6,034,650 | ||||||
Other Investments |
64,793 | 47,772 | ||||||
Total Fixed Assets |
6,008,266 | 6,087,172 | ||||||
|
|
|
|
|||||
Total Assets |
¥ | 6,035,158 | ¥ | 6,152,970 | ||||
|
|
|
|
|||||
Liabilities |
||||||||
Current Liabilities |
||||||||
Short-term Borrowings |
¥ | 741,575 | ¥ | 738,315 | ||||
Short-term Bonds |
380,000 | 405,000 | ||||||
Accrued Corporate Taxes |
94 | 75 | ||||||
Reserve for Bonus Payments |
246 | 260 | ||||||
Other Current Liabilities |
7,468 | 5,668 | ||||||
Total Current Liabilities |
1,129,384 | 1,149,319 | ||||||
Non-Current Liabilities |
||||||||
Bonds and Notes |
240,000 | 240,000 | ||||||
Reserve for Employee Retirement Benefits |
1,757 | 1,890 | ||||||
Asset Retirement Obligations |
640 | 642 | ||||||
Other Non-Current Liabilities |
10,491 | 6,481 | ||||||
Total Non-Current Liabilities |
252,890 | 249,013 | ||||||
|
|
|
|
|||||
Total Liabilities |
1,382,274 | 1,398,333 | ||||||
|
|
|
|
|||||
Net Assets |
||||||||
Shareholders Equity |
||||||||
Common Stock and Preferred Stock |
2,181,375 | 2,254,972 | ||||||
Capital Surplus |
||||||||
Capital Reserve |
1,025,651 | 1,194,864 | ||||||
Total Capital Surplus |
1,025,651 | 1,194,864 | ||||||
Retained Earnings |
||||||||
Appropriated Reserve |
4,350 | 4,350 | ||||||
Other Retained Earnings |
1,437,204 | 1,305,957 | ||||||
Retained Earnings Brought Forward |
1,437,204 | 1,305,957 | ||||||
Total Retained Earnings |
1,441,554 | 1,310,307 | ||||||
Treasury Stock |
(3,196 | ) | (2,928 | ) | ||||
|
|
|
|
|||||
Total Shareholders Equity |
4,645,383 | 4,757,217 | ||||||
|
|
|
|
|||||
Valuation and Translation Adjustments |
||||||||
Net Unrealized Gains (Losses) on Other Securities, net of Taxes |
5,713 | (3,599 | ) | |||||
|
|
|
|
|||||
Total Valuation and Translation Adjustments |
5,713 | (3,599 | ) | |||||
|
|
|
|
|||||
Stock Acquisition Rights |
1,786 | 1,019 | ||||||
|
|
|
|
|||||
Total Net Assets |
4,652,883 | 4,754,636 | ||||||
|
|
|
|
|||||
Total Liabilities and Net Assets |
¥ | 6,035,158 | ¥ | 6,152,970 | ||||
|
|
|
|
1-11
Mizuho Financial Group, Inc.
(2) NON-CONSOLIDATED STATEMENTS OF INCOME
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Operating Income |
¥ | 32,606 | ¥ | 22,910 | ||||
Operating Expenses |
||||||||
General and Administrative Expenses |
9,615 | 10,408 | ||||||
Total Operating Expenses |
9,615 | 10,408 | ||||||
|
|
|
|
|||||
Operating Profits |
22,991 | 12,502 | ||||||
|
|
|
|
|||||
Non-Operating Income |
5,622 | 5,856 | ||||||
Non-Operating Expenses |
11,843 | 9,213 | ||||||
|
|
|
|
|||||
Ordinary Profits |
16,770 | 9,145 | ||||||
|
|
|
|
|||||
Extraordinary Losses |
202 | 1 | ||||||
|
|
|
|
|||||
Income before Income Taxes |
16,567 | 9,144 | ||||||
|
|
|
|
|||||
Income Taxes: |
||||||||
Current |
2 | 68 | ||||||
Deferred |
(20 | ) | 25 | |||||
|
|
|
|
|||||
Total Income Taxes |
(17 | ) | 93 | |||||
|
|
|
|
|||||
Net Income |
¥ | 16,585 | ¥ | 9,050 | ||||
|
|
|
|
1-12
Mizuho Financial Group, Inc.
(3) NON-CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Shareholders Equity |
||||||||
Common Stock and Preferred Stock |
||||||||
Balance as of the beginning of the period |
¥ | 1,805,565 | ¥ | 2,181,375 | ||||
Changes during the period |
||||||||
Issuance of New Shares |
375,810 | 73,597 | ||||||
|
|
|
|
|||||
Total Changes during the period |
375,810 | 73,597 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
2,181,375 | 2,254,972 | ||||||
|
|
|
|
|||||
Capital Surplus |
||||||||
Capital Reserve |
||||||||
Balance as of the beginning of the period |
649,841 | 1,025,651 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
375,810 | 73,597 | ||||||
Increase in Stock due to Share Exchange |
| 95,615 | ||||||
|
|
|
|
|||||
Total Changes during the period |
375,810 | 169,213 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
1,025,651 | 1,194,864 | ||||||
|
|
|
|
|||||
Total Capital Surplus |
||||||||
Balance as of the beginning of the period |
649,841 | 1,025,651 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
375,810 | 73,597 | ||||||
Increase in Stock due to Share Exchange |
| 95,615 | ||||||
|
|
|
|
|||||
Total Changes during the period |
375,810 | 169,213 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
1,025,651 | 1,194,864 | ||||||
|
|
|
|
|||||
Retained Earnings |
||||||||
Appropriated Reserve |
||||||||
Balance as of the beginning of the period |
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 | ||||||
|
|
|
|
|||||
Other Retained Earnings |
||||||||
Retained Earnings Brought Forward |
||||||||
Balance as of the beginning of the period |
1,554,974 | 1,437,204 | ||||||
Changes during the period |
||||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
16,585 | 9,050 | ||||||
Disposition of Treasury Stock |
(1,314 | ) | (199 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(119,695 | ) | (131,246 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
1,435,279 | 1,305,957 | ||||||
|
|
|
|
|||||
Total Retained Earnings |
||||||||
Balance as of the beginning of the period |
1,559,324 | 1,441,554 | ||||||
Changes during the period |
||||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
16,585 | 9,050 | ||||||
Disposition of Treasury Stock |
(1,314 | ) | (199 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(119,695 | ) | (131,246 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
¥ | 1,439,629 | ¥ | 1,310,307 | ||||
|
|
|
|
1-13
Mizuho Financial Group, Inc.
Millions of yen | ||||||||
For the six months ended September 30, 2010 |
For the six months ended September 30, 2011 |
|||||||
Treasury Stock |
||||||||
Balance as of the beginning of the period |
¥ | (5,184 | ) | ¥ | (3,196 | ) | ||
Changes during the period |
||||||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
1,989 | 271 | ||||||
|
|
|
|
|||||
Total Changes during the period |
1,988 | 268 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
(3,195 | ) | (2,928 | ) | ||||
|
|
|
|
|||||
Total Shareholders Equity |
||||||||
Balance as of the beginning of the period |
4,009,546 | 4,645,383 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
751,620 | 147,195 | ||||||
Increase in Stock due to Share Exchange |
| 95,615 | ||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
16,585 | 9,050 | ||||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
675 | 71 | ||||||
|
|
|
|
|||||
Total Changes during the period |
633,913 | 111,833 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
4,643,460 | 4,757,217 | ||||||
|
|
|
|
|||||
Valuation and Translation Adjustments |
||||||||
Net Unrealized Gains (Losses) on Other Securities, net of Taxes |
||||||||
Balance as of the beginning of the period |
(44 | ) | 5,713 | |||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
(22 | ) | (9,313 | ) | ||||
|
|
|
|
|||||
Total Changes during the period |
(22 | ) | (9,313 | ) | ||||
|
|
|
|
|||||
Balance as of the end of the period |
(66 | ) | (3,599 | ) | ||||
|
|
|
|
|||||
Stock Acquisition Rights |
||||||||
Balance as of the beginning of the period |
1,643 | 1,786 | ||||||
Changes during the period |
||||||||
Net Changes in Items other than Shareholders Equity |
142 | (766 | ) | |||||
|
|
|
|
|||||
Total Changes during the period |
142 | (766 | ) | |||||
|
|
|
|
|||||
Balance as of the end of the period |
1,786 | 1,019 | ||||||
|
|
|
|
|||||
Total Net Assets |
||||||||
Balance as of the beginning of the period |
4,011,146 | 4,652,883 | ||||||
Changes during the period |
||||||||
Issuance of New Shares |
751,620 | 147,195 | ||||||
Increase in Stock due to Share Exchange |
| 95,615 | ||||||
Cash Dividends |
(134,966 | ) | (140,097 | ) | ||||
Net Income |
16,585 | 9,050 | ||||||
Repurchase of Treasury Stock |
(1 | ) | (2 | ) | ||||
Disposition of Treasury Stock |
675 | 71 | ||||||
Net Changes in Items other than Shareholders Equity |
120 | (10,079 | ) | |||||
|
|
|
|
|||||
Total Changes during the period |
634,033 | 101,753 | ||||||
|
|
|
|
|||||
Balance as of the end of the period |
¥ | 4,645,179 | ¥ | 4,754,636 | ||||
|
|
|
|
(4) NOTE FOR ASSUMPTION OF GOING CONCERN
There is no applicable information.
1-14
SUMMARY OF FINANCIAL RESULTS
For the Second Quarter (First Half) of Fiscal 2011
(Six months ended September 30, 2011)
<Under Japanese GAAP>
Mizuho Financial Group, Inc.
Summary Results for the Second Quarter (First Half) of Fiscal 2011
I. Summary of Income Analysis
Ø | Consolidated Net Business Profits |
| Consolidated Gross Profits for the first half of fiscal 2011 decreased by JPY 106.1 billion on a year-on-year basis to JPY 990.5 billion. |
Gross Profits of the 3 Banks decreased by JPY 88.6 billion on a year-on-year basis. This is mainly due to a decrease of JPY 83.6 billion in income from Trading and Others. Income from Customer Groups, including domestic business, decreased by JPY 5.0 billion in total, despite an increase in income from overseas business, particularly from Asia.
G&A Expenses of the 3 Banks decreased by JPY 3.0 billion on a year-on-year basis with our continued overall cost reduction efforts and other factors.
| Aggregated Consolidated Gross Profits (Net Operating Revenues) of our two securities subsidiaries (Mizuho Securities and Mizuho Investors Securities) decreased by JPY 38.4 billion on a year-on-year basis. |
| As a result, Consolidated Net Business Profits for the first half of fiscal 2011 amounted to JPY 351.4 billion, a year-on-year decrease of JPY 113.5 billion. |
Ø | Consolidated Net Income |
| Credit-related Costs of the 3 Banks amounted to a net reversal of JPY 8.4 billion, 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 net reversal of JPY 13.2 billion, an improvement of JPY 4.6 billion on a year-on-year basis. |
| Net Losses related to Stocks of the 3 Banks amounted to JPY 67.2 billion. This was mainly due to recording impairment losses for certain stocks reflecting a decline in stock prices. |
| Due to the above-mentioned factors and the JPY 77.4 billion impact of turning the three listed subsidiaries into wholly-owned subsidiaries, Consolidated Net Income for the first half of fiscal 2011 amounted to JPY 254.6 billion. Thus, progress ratio was approximately 110% against our planned net income for the first half of fiscal 2011 (JPY 230 billion) and approximately 55% against our planned net income for full fiscal 2011 (JPY 460 billion). |
(Consolidated)
1H of FY2011 (Apr. 1 - Sep. 30, 2011) |
||||||||
Change from 1H of FY2010 |
||||||||
(JPY Bn) | ||||||||
Consolidated Gross Profits *1 |
990.5 | -106.1 | ||||||
Consolidated Net Business Profits *2 |
351.4 | -113.5 | ||||||
Credit-related Costs |
13.2 | 4.6 | ||||||
Net Gains (Losses) related to Stocks |
-60.6 | -50.0 | ||||||
Ordinary Profits |
256.4 | -167.3 | ||||||
Net Income |
254.6 | -87.0 | ||||||
(Reference) 3 Banks | ||||||||
1H of FY2011 (Apr. 1 - Sep. 30, 2011) |
||||||||
Change from 1H of FY2010 |
||||||||
(JPY Bn) | ||||||||
Gross Profits *1 |
792.3 | -88.6 | ||||||
G&A Expenses *1 (excluding Non-Recurring Losses) |
-432.7 | 3.0 | ||||||
Net Business Profits |
359.5 | -85.5 | ||||||
Credit-related Costs |
8.4 | -16.7 | ||||||
Net Gains (Losses) related to Stocks |
-67.2 | -52.2 | ||||||
Ordinary Profits |
219.4 | -135.8 | ||||||
Net Income *3 |
152.4 | -202.5 |
*1 | Certain items in expenses regarding stock transfer agency business and pension management business, which had been recorded as General and Administrative Expenses (excluding Non-Recurring Losses) until the previous period, have been included in Gross Profits beginning with this period, and reclassification of the figures for 1H of FY 2010 has been made accordingly |
*2 | Consolidated Gross Profits - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments |
*3 | Includes JPY -27.2 billion impact of turning the three listed subsidiaries into wholly-owned subsidiaries. Excluding this impact, Net Income was JPY 179.6 billion. |
2-1
Ø | Net Interest Income |
| The average loan balance for the first half of fiscal 2011 decreased by JPY 0.3 trillion from that for the second half of fiscal 2010. This was due to a decrease in domestic loans, particularly those to the Japanese Government, offset in part by an increase in overseas loans. |
| The period end loan balance as of September 30, 2011 decreased by JPY 1.4 trillion compared with that as of March 31, 2011, mainly due to a decrease of JPY 1.0 trillion in loans to the Japanese Government. |
| The domestic loan-and-deposit rate margin for the first half of fiscal 2011 was 1.32%, a decrease of 0.04% from that for the second half of fiscal 2010. |
*1 | Aggregate of the 3 Banks, excluding Trust Account and loans to Mizuho Financial Group, Inc. Balance for overseas branches includes foreign exchange translation impact. | |
*2 | Aggregate figures of domestic operations of Mizuho Bank and Mizuho Corporate Bank after excluding loans to Mizuho Financial Group, Inc., Deposit Insurance Corporation of Japan and the Japanese Government |
Ø | Non-interest Income |
| Non-interest Income from Customer Groups of the 3 Banks (on a managerial accounting basis) for the first half of fiscal 2011 increased by JPY 2.7 billion on a year-on-year basis. |
| This mainly resulted from a year-on-year increase in Non-interest Income from overseas business, particularly from Asia. |
* Certain items in expenses regarding stock transfer agency business and pension management business, which had been recorded as General and Administrative Expenses until the previous period, have been included in Non-interest Income beginning with this period, and reclassification of the figure for 1H of FY 2010 has been made accordingly. The impact of the reclassification is JPY -4.4 billion for 1H of FY2010 and JPY -4.0 billion for 1H of FY2011, respectively |
2-2
II. Financial Soundness
| Our consolidated Capital Adequacy Ratio was 14.92%, a decline of 0.38% from that as of March 31, 2011. |
| The balance of Disclosed Claims (3 Banks) under the Financial Reconstruction Law decreased by JPY 41.9 billion from that as of March 31, 2011. NPL Ratio remained at a low level of 1.70%. |
| The balance of Consolidated Net Deferred Tax Assets decreased by JPY 32.9 billion from that as of March 31, 2011, and the ratio to Tier 1 Capital was 7.2%. |
| Unrealized Losses on Other Securities on a consolidated basis amounted to JPY -145.2 billion, mainly due to a decline in stock prices. |
September 30, 2011 | ||||||||
Change from Mar. 31, 2011 |
||||||||
(JPY Bn, %) | ||||||||
Consolidated Capital Adequacy Ratio |
14.92 | % | -0.38 | % | ||||
(Total Risk-based Capital) |
(7,615.2 | ) | (-295.7 | ) | ||||
Tier 1 Capital Ratio |
11.89 | % | -0.04 | % | ||||
(Tier 1 Capital) |
(6,069.8 | ) | (-100.4 | ) | ||||
Disclosed Claims under the Financial Reconstruction Law (3 Banks) |
1,166.0 | -41.9 | ||||||
NPL Ratio |
1.70 | % | -0.02 | % | ||||
(Net NPL Ratio *1) |
(0.82 | %) | (-0.00 | %) | ||||
Net Deferred Tax Assets (DTAs) (Consolidated) |
438.2 | -32.9 | ||||||
Net DTAs / Tier 1 Ratio |
7.2 | % | -0.4 | % | ||||
Unrealized Gains (Losses) on Other Securities (Consolidated) *2 |
-145.2 | -145.8 |
*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
| We continue to pursue strengthening of stable capital base and steady returns to shareholders as our disciplined capital management policy. However, considering the ongoing global discussions with respect to capital, uncertainty over the economy and market trends, and other factors, we are placing a higher priority on strengthening of stable capital base. |
| Amid the ongoing global discussions on the revision of capital regulations, we aim to increase, as our medium-term target, our Consolidated Tier 1 Capital Ratio (under Basel II) to 12% or above and our Common Equity Capital Ratio* (under Basel III) as of the end of fiscal 2012, when the new capital regulations are scheduled to be implemented, to the mid-8% level. |
| We will strive to strengthen further our financial base mainly by accumulating retained earnings and improving asset efficiency through our initiatives such as the steady implementation of Mizuhos Transformation Program that we announced in May 2010, and the realization in advance of the synergy effects of the integrated group-wide business operations including the transformation into one bank. Accordingly, we believe we will be able sufficiently to meet the new capital regulations including the framework to identify G-SIFIs. |
* | The calculation of our Common Equity Capital Ratio includes the outstanding balance of the Eleventh Series Class XI Preferred Stock that will be mandatorily convertible into common stock in July 2016. |
Meanwhile, as of today, details (such as the calculation method for the capital adequacy ratio under the new capital regulations) have yet to be determined. Therefore, our Common Equity Capital Ratio is the estimated figure that Mizuho Financial Group calculates based on the publicly-available materials that have been issued to date. |
(Note) |
The outstanding balance of the Eleventh Series Class XI Preferred Stock as of September 30, 2011 (excluding treasury stock) amounted to JPY 383.4 billion (59.3% of the initial amount issued of JPY 943.7 billion, had already been converted into common stock as of such date). |
2-3
Earnings Plan for Fiscal 2011
(Figures below are on a consolidated basis)
Ø | We now plan Consolidated Net Business Profits for fiscal 2011 to be JPY 770.0 billion, a decrease of JPY 30.0 billion compared with the original plan(*) based on the results for the first half of fiscal 2011 (an increase of JPY 28.2 billion compared with the actual results of the previous fiscal year). We plan Net Business Profits of the 3 Banks to be JPY 717.0 billion, an increase of JPY 30.0 billion compared with the original plan. |
We endeavor to strengthen profitability by thoroughly promoting group collaboration among the banking, trust and securities subsidiaries in light of turning the three listed group companies into wholly-owned subsidiaries, as well as by realizing in advance the integration effects of the transformation into one bank.
(*) original plan announced on May 13, 2011
Ø | Credit-related Costs are estimated to be JPY 65.0 billion considering the uncertainty over the global economy, while continuously implementing our business revitalization support to corporate customers and others. |
Ø | Based on the above, we continue to plan Consolidated Net Income to be JPY 460.0 billion. |
Ø | We plan to make cash dividend payments of JPY 6 per share of common stock as annual dividend payments for the fiscal year ending March 31, 2012, unchanged from that in the previous fiscal year, in consideration of the balance between strengthening of stable capital base and steady returns to shareholders. We also plan to make cash dividend payments on preferred stock as prescribed. Pertaining to the above, we plan to make interim cash dividend payments in order to provide returns to shareholders at a more appropriate timing. |
(Consolidated)
FY2011 (Plan) | ||||||||
Change from FY2010 |
||||||||
(JPY Bn) | ||||||||
Consolidated Net Business Profits* |
770.0 | 28.2 | ||||||
Credit-related Costs |
-65.0 | -48.3 | ||||||
Net Gains (Losses) related to Stocks |
-60.0 | 10.5 | ||||||
Ordinary Profits |
590.0 | 1.5 | ||||||
Net Income |
460.0 | 46.7 |
* | 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
FY2011 (Plan) | ||||||||
Change from FY2010 |
||||||||
(JPY Bn) | ||||||||
Net Business Profits |
717.0 | -25.3 | ||||||
Credit-related Costs |
-63.0 | -79.0 | ||||||
Net Gains (Losses) related to Stocks |
-65.0 | 11.2 | ||||||
Ordinary Profits |
455.0 | -52.2 | ||||||
Net Income |
325.0 | -122.0 |
[Planned cash dividends for the fiscal year ending March 31, 2012] |
| |||||
Common Stock |
Annual Cash Dividends per share | JPY 6 | ||||
o/w Interim Cash Dividends | JPY 3 | |||||
The Eleventh Series |
Annual Cash Dividends per share | JPY 20 | ||||
Class XI Preferred Stock |
o/w Interim Cash Dividends | JPY 10 | ||||
The Thirteenth Series |
Annual Cash Dividends per share | JPY 30 | ||||
Class XIII Preferred Stock |
o/w Interim Cash Dividends | JPY 15 |
This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance.
In many cases, but not all, we use such words as aim, anticipate, believe, endeavor, estimate, expect, intend, may, plan, probability, project, risk, seek, should, strive, target and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.
We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our Medium-term Management Policy, realize the synergy effects of the transformation into one bank, and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations. Further information regarding factors that could affect our financial condition and results of operations is included in Item 3.D. Key Information - Risk Factors and Item 5. Operating and Financial Review and Prospects in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) which is available in the Financial Information section of our web page at www.mizuho-fg.co.jp/english/ and also at the 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.
2-4
[Reference]
Breakdown of Earnings by Business Segment
[3 Banks] | 1H of FY2011 (Apr. 1 - Sep. 30, 2011) |
|||||||
Change from 1H of FY2010 |
||||||||
(JPY Bn) | ||||||||
Gross Profits * |
601.5 | -5.0 | ||||||
G&A Expenses * |
-347.1 | 4.0 | ||||||
Customer Groups |
254.3 | -0.9 | ||||||
Gross Profits |
190.7 | -83.6 | ||||||
G&A Expenses |
-85.5 | -0.9 | ||||||
Trading & Others |
105.1 | -84.5 | ||||||
Gross Profits * |
792.3 | -88.6 | ||||||
G&A Expenses * |
-432.7 | 3.0 | ||||||
Net Business Profits |
359.5 | -85.5 |
* | Certain items in expenses regarding stock transfer agency business and pension management business, which had been recorded as General and Administrative Expenses until the previous period, have been included in Gross Profits beginning with this period, and reclassification of the figures for 1H of FY2011 has been made accordingly |
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 2011
(Six months ended September 30, 2011)
<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: Non-consolidated figures of Mizuho Bank, Ltd. (MHBK), Mizuho Corporate Bank, Ltd. (MHCB) and Mizuho Trust & Banking Co., Ltd. (MHTB)
HC: Non-consolidated figures of Mizuho Financial Group, Inc.
I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2011 |
See above Notes | Page | ||||||
1. Income Analysis |
CON | NON | 3- 1 | |||||
2. Interest Margins (Domestic Operations) |
NON | 3- 6 | ||||||
3. Use and Source of Funds |
NON | 3- 7 | ||||||
4. Net Gains/Losses on Securities |
NON | 3- 11 | ||||||
5. Unrealized Gains/Losses on Securities |
CON | NON | 3- 13 | |||||
6. Projected Redemption Amounts for Securities |
NON | 3- 15 | ||||||
7. Overview of Derivative Transactions Qualifying for Hedge Accounting |
NON | 3- 16 | ||||||
8. Employee Retirement Benefits |
NON | 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 | 3- 21 | |||||
2. Status of Reserves for Possible Losses on Loans |
CON | NON | 3- 23 | |||||
3. Reserve Ratios for Non-Accrual, Past Due & Restructured Loans |
CON | NON | 3- 24 | |||||
4. Status of Disclosed Claims under the Financial Reconstruction Law (FRL) |
CON | NON | 3- 25 | |||||
5. Coverage on Disclosed Claims under the FRL |
NON | 3- 27 | ||||||
6. Overview of Non-Performing Loans(NPLs) |
NON | 3- 30 | ||||||
7. Results of Removal of NPLs from the Balance Sheet |
NON | 3- 31 | ||||||
8. Status of Loans by Industry |
||||||||
(1) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Industry |
NON | 3- 33 | ||||||
(2) Disclosed Claims under the FRL and Coverage Ratio by Industry |
NON | 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 | 3- 36 | ||||||
(2) Loans to SMEs and Individual Customers |
NON | 3- 36 | ||||||
10. Status of Loans by Region |
||||||||
(1) Balance of Loans to Restructuring Countries |
NON | 3- 37 | ||||||
(2) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Region |
NON | 3- 37 | ||||||
III. DEFERRED TAXES |
See above Notes | Page | ||||||
1. Change in Deferred Tax Assets, etc. |
CON | NON | 3- 38 | |||||
2. Estimation of Deferred Tax Assets, etc. |
||||||||
(1) Calculation Policy |
NON | 3- 39 | ||||||
(2) Estimation for Calculating Deferred Tax Assets |
NON | 3- 40 |
IV. OTHERS |
See above Notes | Page | ||||||
1. Breakdown of Deposits (Domestic Offices) |
NON | 3- 44 | ||||||
2. Number of Directors and Employees |
HC | NON | 3- 45 | |||||
3. Number of Branches and Offices |
NON | 3- 46 | ||||||
4. Earnings Plan for Fiscal 2011 |
CON | NON | 3- 47 | |||||
Attachments |
See above Notes | Page | ||||||
Mizuho Bank, Ltd. |
||||||||
Comparison of Non-Consolidated Balance Sheets (selected items) |
NON | 3- 48 | ||||||
Comparison of Non-Consolidated Statements of Income (selected items) |
NON | 3- 49 | ||||||
Non-Consolidated Statement of Changes in Net Assets |
NON | 3- 50 | ||||||
Mizuho Corporate Bank, Ltd. |
||||||||
Comparison of Non-Consolidated Balance Sheets (selected items) |
NON | 3- 51 | ||||||
Comparison of Non-Consolidated Statements of Income (selected items) |
NON | 3- 52 | ||||||
Non-Consolidated Statement of Changes in Net Assets |
NON | 3- 53 | ||||||
Mizuho Trust & Banking Co., Ltd. |
||||||||
Comparison of Non-Consolidated Balance Sheets (selected items) |
NON | 3- 54 | ||||||
Comparison of Non-Consolidated Statements of Income (selected items) |
NON | 3- 55 | ||||||
Non-Consolidated Statement of Changes in Net Assets |
NON | 3- 56 | ||||||
Statement of Trust Assets and Liabilities |
NON | 3- 57 | ||||||
Comparison of Balances of Principal Items |
NON | 3- 58 |
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.
Mizuho Financial Group, Inc.
I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2011
1. Income Analysis
Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2011 | First Half of Fiscal 2010 |
|||||||||||||||
Change | ||||||||||||||||
Consolidated Gross Profits |
1 | 990,542 | (106,159 | ) | 1,096,701 | |||||||||||
Net Interest Income |
2 | 535,149 | (18,394 | ) | 553,544 | |||||||||||
Fiduciary Income |
3 | 24,507 | 449 | 24,058 | ||||||||||||
Credit Costs for Trust Accounts |
4 | | | | ||||||||||||
Net Fee and Commission Income *1 |
5 | 211,331 | (3,643 | ) | 214,974 | |||||||||||
Net Trading Income |
6 | 87,688 | (89,923 | ) | 177,612 | |||||||||||
Net Other Operating Income |
7 | 131,864 | 5,353 | 126,511 | ||||||||||||
General and Administrative Expenses |
8 | (636,777 | ) | (1,578 | ) | (635,198 | ) | |||||||||
Personnel Expenses |
9 | (316,420 | ) | (3,638 | ) | (312,781 | ) | |||||||||
Non-Personnel Expenses *1 |
10 | (293,132 | ) | 2,600 | (295,733 | ) | ||||||||||
Miscellaneous Taxes |
11 | (27,223 | ) | (540 | ) | (26,683 | ) | |||||||||
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
12 | (19,954 | ) | 10,027 | (29,982 | ) | ||||||||||
Losses on Write-offs of Loans |
13 | (19,326 | ) | 10,102 | (29,429 | ) | ||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *2 |
14 | 33,198 | 33,198 | |||||||||||||
Net Gains (Losses) related to Stocks *3 |
15 | (60,616 | ) | (50,049 | ) | (10,567 | ) | |||||||||
Equity in Income from Investments in Affiliates |
16 | 82 | (2,421 | ) | 2,503 | |||||||||||
|
|
|
|
|
|
|||||||||||
Other |
17 | (50,007 | ) | (50,379 | ) | 372 | ||||||||||
|
|
|
|
|
|
|||||||||||
Ordinary Profits |
18 | 256,467 | (167,361 | ) | 423,829 | |||||||||||
Net Extraordinary Gains (Losses) |
19 | 87,166 | 59,918 | 27,247 | ||||||||||||
Gains on Negative Goodwill Incurred |
20 | 91,180 | 91,180 | | ||||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *2 |
21 | (38,543 | ) | 38,543 | ||||||||||||
Reversal of Reserve for Possible Losses on Investments *3 |
22 | (7 | ) | 7 | ||||||||||||
Income before Income Taxes and Minority Interests |
23 | 343,634 | (107,442 | ) | 451,076 | |||||||||||
Income Taxes - Current |
24 | (21,043 | ) | (9,807 | ) | (11,236 | ) | |||||||||
- Deferred |
25 | (25,991 | ) | 21,258 | (47,250 | ) | ||||||||||
Net Income before Minority Interests |
26 | 296,599 | (95,991 | ) | 392,590 | |||||||||||
Minority Interests in Net Income |
27 | (41,933 | ) | 8,898 | (50,831 | ) | ||||||||||
|
|
|
|
|
|
|||||||||||
Net Income |
28 | 254,665 | (87,093 | ) | 341,759 | |||||||||||
|
|
|
|
|
|
|||||||||||
*1. Certain items in expenses regarding stock transfer agency business and pension management business, which had been recorded as Non-Personnel Expenses [10] until the previous period, have been included in Net Fee and Commission Income [5] as Fee and Commission Expenses beginning with this period, and reclassification of prior period figures has been made accordingly. *2. Reversal of Reserves for Possible Losses on Loans, etc. [21], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been presented as Reversal of Reserves for Possible Losses on Loans, etc. [14] beginning with this period. (Please refer to page 1-10 of this release for more information.) *3. Reversal of Reserve for Possible Losses on Investments [22], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been included in Net Gains (Losses) related to Stocks [15] beginning with this period. |
| |||||||||||||||
Credit-related Costs (including Credit Costs for Trust Accounts) |
29 | 13,244 | 4,683 | 8,561 | ||||||||||||
* Credit-related Costs [29] = 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. [14] , [21] + Credit Costs for Trust Accounts [4] |
| |||||||||||||||
(Reference) |
||||||||||||||||
Consolidated Net Business Profits |
30 | 351,426 | (113,564 | ) | 464,991 | |||||||||||
* Consolidated Net Business Profits [30] = 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 |
31 | 153 | (10 | ) | 163 | |||||||||||
Number of affiliates under the equity method |
32 | 23 | 2 | 21 |
3-1
Mizuho Financial Group, Inc.
Aggregated Figures of the 3 Banks
Non-Consolidated
(Millions of yen) | ||||||||||||||||||||||||||||
First Half of Fiscal 2011 | First Half of Fiscal 2010 |
|||||||||||||||||||||||||||
MHBK | MHCB | MHTB | Aggregated Figures |
Change | ||||||||||||||||||||||||
Gross Profits |
1 | 382,218 | 347,734 | 62,354 | 792,307 | (88,668 | ) | 880,976 | ||||||||||||||||||||
Domestic Gross Profits |
2 | 341,751 | 132,203 | 56,524 | 530,478 | (65,045 | ) | 595,524 | ||||||||||||||||||||
Net Interest Income |
3 | 264,893 | 95,506 | 19,485 | 379,885 | (20,544 | ) | 400,429 | ||||||||||||||||||||
Fiduciary Income |
4 | 24,242 | 24,242 | 435 | 23,806 | |||||||||||||||||||||||
Credit Costs for Trust Accounts *1 |
5 | | | | | |||||||||||||||||||||||
Net Fee and Commission Income *2 |
6 | 61,662 | 25,607 | 9,117 | 96,387 | (9,949 | ) | 106,336 | ||||||||||||||||||||
Net Trading Income |
7 | 2,755 | 6,043 | 1,856 | 10,654 | (3,283 | ) | 13,937 | ||||||||||||||||||||
Net Other Operating Income |
8 | 12,440 | 5,046 | 1,822 | 19,309 | (31,705 | ) | 51,014 | ||||||||||||||||||||
International Gross Profits |
9 | 40,467 | 215,530 | 5,830 | 261,828 | (23,622 | ) | 285,451 | ||||||||||||||||||||
Net Interest Income |
10 | 7,750 | 94,535 | 1,902 | 104,188 | (6,389 | ) | 110,577 | ||||||||||||||||||||
Net Fee and Commission Income |
11 | 5,252 | 33,844 | (59 | ) | 39,037 | 6,108 | 32,929 | ||||||||||||||||||||
Net Trading Income |
12 | 25,440 | (3,743 | ) | (826 | ) | 20,870 | (55,485 | ) | 76,356 | ||||||||||||||||||
Net Other Operating Income |
13 | 2,023 | 90,893 | 4,814 | 97,732 | 32,143 | 65,588 | |||||||||||||||||||||
General and Administrative Expenses (excluding Non-Recurring Losses) |
14 | (276,263 | ) | (116,834 | ) | (39,676 | ) | (432,774 | ) | 3,099 | (435,873 | ) | ||||||||||||||||
Expense Ratio |
15 | 72.2 | % | 33.5 | % | 63.6 | % | 54.6 | % | 5.1 | % | 49.4 | % | |||||||||||||||
Personnel Expenses |
16 | (95,439 | ) | (44,026 | ) | (17,889 | ) | (157,355 | ) | (5,769 | ) | (151,585 | ) | |||||||||||||||
Non-Personnel Expenses *2 |
17 | (164,892 | ) | (66,999 | ) | (20,579 | ) | (252,471 | ) | 8,732 | (261,204 | ) | ||||||||||||||||
Premium for Deposit Insurance |
18 | (23,191 | ) | (3,705 | ) | (1,208 | ) | (28,105 | ) | 55 | (28,161 | ) | ||||||||||||||||
Miscellaneous Taxes |
19 | (15,932 | ) | (5,807 | ) | (1,207 | ) | (22,947 | ) | 136 | (23,083 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
20 | 105,954 | 230,899 | 22,677 | 359,532 | (85,569 | ) | 445,102 | ||||||||||||||||||||
Excluding Net Gains (Losses) related to Bonds |
21 | 88,980 | 172,617 | 16,182 | 277,780 | (41,040 | ) | 318,821 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
22 | | (7,040 | ) | | (7,040 | ) | (7,545 | ) | 504 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Business Profits |
23 | 105,954 | 223,859 | 22,677 | 352,492 | (93,115 | ) | 445,607 | ||||||||||||||||||||
Net Gains (Losses) related to Bonds |
24 | 16,974 | 58,281 | 6,495 | 81,751 | (44,529 | ) | 126,281 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Non-Recurring Gains (Losses) |
25 | (51,749 | ) | (72,889 | ) | (8,432 | ) | (133,071 | ) | (42,753 | ) | (90,317 | ) | |||||||||||||||
Net Gains (Losses) related to Stocks *3 |
26 | (5,192 | ) | (59,440 | ) | (2,641 | ) | (67,274 | ) | (52,245 | ) | (15,029 | ) | |||||||||||||||
Expenses related to Portfolio Problems |
27 | (13,899 | ) | 6,150 | (169 | ) | (7,918 | ) | 22,961 | (30,879 | ) | |||||||||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *4 |
28 | 21,393 | 1,576 | 477 | 23,447 | 23,447 | ||||||||||||||||||||||
Other |
29 | (54,050 | ) | (21,176 | ) | (6,098 | ) | (81,325 | ) | (36,917 | ) | (44,408 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ordinary Profits |
30 | 54,205 | 150,969 | 14,245 | 219,420 | (135,868 | ) | 355,289 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Extraordinary Gains (Losses) |
31 | (29,487 | ) | (622 | ) | (28 | ) | (30,139 | ) | (74,930 | ) | 44,790 | ||||||||||||||||
Net Gains (Losses) on Disposition of Fixed Assets |
32 | (918 | ) | (437 | ) | (25 | ) | (1,381 | ) | 179 | (1,560 | ) | ||||||||||||||||
Losses on Impairment of Fixed Assets |
33 | (841 | ) | (185 | ) | (2 | ) | (1,029 | ) | 1,421 | (2,451 | ) | ||||||||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *4 |
34 | (55,662 | ) | 55,662 | ||||||||||||||||||||||||
Reversal of Reserve for Possible Losses on Investments *3 |
35 | (93 | ) | 93 | ||||||||||||||||||||||||
Income before Income Taxes |
36 | 24,718 | 150,346 | 14,217 | 189,281 | (210,798 | ) | 400,080 | ||||||||||||||||||||
Income Taxes - Current |
37 | (219 | ) | (11,756 | ) | (4 | ) | (11,980 | ) | (7,058 | ) | (4,922 | ) | |||||||||||||||
- Deferred |
38 | (6,894 | ) | (13,466 | ) | (4,451 | ) | (24,812 | ) | 15,336 | (40,148 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Income |
39 | 17,604 | 125,123 | 9,760 | 152,488 | (202,521 | ) | 355,009 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
*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. Certain items in expenses regarding stock transfer agency business and pension management business, which had been recorded as Non-Personnel Expenses [17] in MHTB until the previous period, have been included in Net Fee and Commission Income [6] as Fee and Commission Expenses beginning with this period, and reclassification of prior period figures has been made accordingly. *3. Reversal of Reserve for Possible Losses on Investments [35], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been presented as Net Gains (Losses) related to Stocks [26] beginning with this period. *4. Reversal of Reserves for Possible Losses on Loans, etc. [34], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been presented as Reversal of Reserves for Possible Losses on Loans, etc. [28] beginning with this period. (Please refer to page 1-10 of this release for more information.) |
| |||||||||||||||||||||||||||
Credit-related Costs |
40 | 7,493 | 686 | 308 | 8,488 | (16,799 | ) | 25,288 | ||||||||||||||||||||
* Credit-related Costs [40] = 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. [28], [34] + Credit Costs for Trust Accounts [5] |
| |||||||||||||||||||||||||||
(Reference) Breakdown of Credit-related Costs |
|
|||||||||||||||||||||||||||
Credit Costs for Trust Accounts |
41 | | | | | |||||||||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
42 | 12,356 | (7,040 | ) | 1,200 | 6,515 | (28,513 | ) | 35,029 | |||||||||||||||||||
Losses on Write-offs of Loans |
43 | (2,057 | ) | 1,090 | (169 | ) | (1,136 | ) | 4,466 | (5,602 | ) | |||||||||||||||||
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans |
44 | (2,086 | ) | 6,778 | (731 | ) | 3,961 | 7,907 | (3,946 | ) | ||||||||||||||||||
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries |
45 | | 1 | 0 | 1 | (160 | ) | 161 | ||||||||||||||||||||
Reversal of (Provision for) Reserve for Contingencies |
46 | | (110 | ) | 8 | (101 | ) | (742 | ) | 641 | ||||||||||||||||||
Other (including Losses on Sales of Loans) |
47 | (719 | ) | (32 | ) | | (751 | ) | 243 | (995 | ) | |||||||||||||||||
Total |
48 | 7,493 | 686 | 308 | 8,488 | (16,799 | ) | 25,288 |
3-2
Mizuho Financial Group, Inc.
Mizuho Bank
Non-Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2011 | First Half of Fiscal 2010 |
|||||||||||||||
Change | ||||||||||||||||
Gross Profits |
1 | 382,218 | (39,474 | ) | 421,693 | |||||||||||
Domestic Gross Profits |
2 | 341,751 | (18,308 | ) | 360,060 | |||||||||||
Net Interest Income |
3 | 264,893 | (8,644 | ) | 273,537 | |||||||||||
Net Fee and Commission Income |
4 | 61,662 | (6,699 | ) | 68,361 | |||||||||||
Net Trading Income |
5 | 2,755 | 889 | 1,865 | ||||||||||||
Net Other Operating Income |
6 | 12,440 | (3,855 | ) | 16,295 | |||||||||||
International Gross Profits |
7 | 40,467 | (21,165 | ) | 61,633 | |||||||||||
Net Interest Income |
8 | 7,750 | (4,597 | ) | 12,347 | |||||||||||
Net Fee and Commission Income |
9 | 5,252 | (274 | ) | 5,526 | |||||||||||
Net Trading Income |
10 | 25,440 | (15,357 | ) | 40,798 | |||||||||||
Net Other Operating Income |
11 | 2,023 | (936 | ) | 2,960 | |||||||||||
General and Administrative Expenses (excluding Non-Recurring Losses) |
12 | (276,263 | ) | 3,104 | (279,368 | ) | ||||||||||
Expense Ratio |
13 | 72.2 | % | 6.0 | % | 66.2 | % | |||||||||
Personnel Expenses |
14 | (95,439 | ) | (1,626 | ) | (93,812 | ) | |||||||||
Non-Personnel Expenses |
15 | (164,892 | ) | 4,891 | (169,783 | ) | ||||||||||
Premium for Deposit Insurance |
16 | (23,191 | ) | 39 | (23,231 | ) | ||||||||||
Miscellaneous Taxes |
17 | (15,932 | ) | (160 | ) | (15,771 | ) | |||||||||
|
|
|
|
|
|
|||||||||||
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
18 | 105,954 | (36,370 | ) | 142,325 | |||||||||||
Excluding Net Gains (Losses) related to Bonds |
19 | 88,980 | (24,471 | ) | 113,452 | |||||||||||
|
|
|
|
|
|
|||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
20 | | | | ||||||||||||
|
|
|
|
|
|
|||||||||||
Net Business Profits |
21 | 105,954 | (36,370 | ) | 142,325 | |||||||||||
Net Gains (Losses) related to Bonds |
22 | 16,974 | (11,898 | ) | 28,872 | |||||||||||
|
|
|
|
|
|
|||||||||||
Net Non-Recurring Gains (Losses) |
23 | (51,749 | ) | 1,292 | (53,041 | ) | ||||||||||
Net Gains (Losses) related to Stocks *1 |
24 | (5,192 | ) | 1,066 | (6,258 | ) | ||||||||||
Expenses related to Portfolio Problems |
25 | (13,899 | ) | 11,406 | (25,306 | ) | ||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *2 |
26 | 21,393 | 21,393 | |||||||||||||
Other |
27 | (54,050 | ) | (32,573 | ) | (21,476 | ) | |||||||||
|
|
|
|
|
|
|||||||||||
Ordinary Profits |
28 | 54,205 | (35,077 | ) | 89,283 | |||||||||||
|
|
|
|
|
|
|||||||||||
Net Extraordinary Gains (Losses) |
29 | (29,487 | ) | (54,799 | ) | 25,312 | ||||||||||
Net Gains (Losses) on Disposition of Fixed Assets |
30 | (918 | ) | (185 | ) | (732 | ) | |||||||||
Losses on Impairment of Fixed Assets |
31 | (841 | ) | 792 | (1,633 | ) | ||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. *2 |
32 | (28,113 | ) | 28,113 | ||||||||||||
Reversal of Reserve for Possible Losses on Investments *1 |
33 | (9 | ) | 9 | ||||||||||||
Income before Income Taxes |
34 | 24,718 | (89,877 | ) | 114,595 | |||||||||||
Income Taxes - Current |
35 | (219 | ) | 28 | (247 | ) | ||||||||||
- Deferred |
36 | (6,894 | ) | (19,563 | ) | 12,669 | ||||||||||
|
|
|
|
|
|
|||||||||||
Net Income |
37 | 17,604 | (109,412 | ) | 127,017 | |||||||||||
|
|
|
|
|
|
|||||||||||
*1. Reversal of Reserve for Possible Losses on Investments [33], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been included in Net Gains (Losses) related to Stocks [24] beginning with this period. *2. Reversal of Reserves for Possible Losses on Loans, etc. [32], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been presented as Reversal of Reserves for Possible Losses on Loans, etc. [26] beginning with this period. (Please refer to page 1-10 of this release for more information.) |
| |||||||||||||||
Credit-related Costs |
38 | 7,493 | 4,685 | 2,807 | ||||||||||||
* Credit-related Costs [38] = 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. [26], [32] |
| |||||||||||||||
(Reference) Breakdown of Credit-related Costs |
||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
39 | 12,356 | (3,985 | ) | 16,341 | |||||||||||
Losses on Write-offs of Loans |
40 | (2,057 | ) | 6,381 | (8,439 | ) | ||||||||||
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans |
41 | (2,086 | ) | 2,143 | (4,229 | ) | ||||||||||
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries |
42 | | | | ||||||||||||
Reversal of (Provision for) Reserve for Contingencies |
43 | | | | ||||||||||||
Other (including Losses on Sales of Loans) |
44 | (719 | ) | 146 | (865 | ) | ||||||||||
Total |
45 | 7,493 | 4,685 | 2,807 |
3-3
Mizuho Financial Group, Inc.
Mizuho Corporate Bank
Non-Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2011 | First Half of Fiscal 2010 |
|||||||||||||||
Change | ||||||||||||||||
Gross Profits |
1 | 347,734 | (49,486 | ) | 397,221 | |||||||||||
Domestic Gross Profits |
2 | 132,203 | (45,414 | ) | 177,617 | |||||||||||
Net Interest Income |
3 | 95,506 | (13,144 | ) | 108,651 | |||||||||||
Net Fee and Commission Income |
4 | 25,607 | (3,456 | ) | 29,064 | |||||||||||
Net Trading Income |
5 | 6,043 | (3,370 | ) | 9,413 | |||||||||||
Net Other Operating Income |
6 | 5,046 | (25,442 | ) | 30,488 | |||||||||||
International Gross Profits |
7 | 215,530 | (4,072 | ) | 219,603 | |||||||||||
Net Interest Income |
8 | 94,535 | (1,650 | ) | 96,185 | |||||||||||
Net Fee and Commission Income |
9 | 33,844 | 6,418 | 27,426 | ||||||||||||
Net Trading Income |
10 | (3,743 | ) | (40,523 | ) | 36,779 | ||||||||||
Net Other Operating Income |
11 | 90,893 | 31,682 | 59,211 | ||||||||||||
General and Administrative Expenses (excluding Non-Recurring Losses) |
12 | (116,834 | ) | (317 | ) | (116,517 | ) | |||||||||
Expense Ratio |
13 | 33.5 | % | 4.2 | % | 29.3 | % | |||||||||
Personnel Expenses |
14 | (44,026 | ) | (3,232 | ) | (40,794 | ) | |||||||||
Non-Personnel Expenses |
15 | (66,999 | ) | 2,691 | (69,691 | ) | ||||||||||
Premium for Deposit Insurance |
16 | (3,705 | ) | (125 | ) | (3,579 | ) | |||||||||
Miscellaneous Taxes |
17 | (5,807 | ) | 224 | (6,031 | ) | ||||||||||
|
|
|
|
|
|
|||||||||||
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) |
18 | 230,899 | (49,803 | ) | 280,703 | |||||||||||
Excluding Net Gains (Losses) related to Bonds |
19 | 172,617 | (18,258 | ) | 190,876 | |||||||||||
|
|
|
|
|
|
|||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
20 | (7,040 | ) | (7,040 | ) | | ||||||||||
|
|
|
|
|
|
|||||||||||
Net Business Profits |
21 | 223,859 | (56,844 | ) | 280,703 | |||||||||||
Net Gains (Losses) related to Bonds |
22 | 58,281 | (31,545 | ) | 89,826 | |||||||||||
|
|
|
|
|
|
|||||||||||
Net Non-Recurring Gains (Losses) |
23 | (72,889 | ) | (42,665 | ) | (30,224 | ) | |||||||||
Net Gains (Losses) related to Stocks |
24 | (59,440 | ) | (51,574 | ) | (7,865 | ) | |||||||||
Expenses related to Portfolio Problems |
25 | 6,150 | 9,807 | (3,656 | ) | |||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. * |
26 | 1,576 | 1,576 | |||||||||||||
Other |
27 | (21,176 | ) | (2,474 | ) | (18,701 | ) | |||||||||
|
|
|
|
|
|
|||||||||||
Ordinary Profits |
28 | 150,969 | (99,510 | ) | 250,479 | |||||||||||
|
|
|
|
|
|
|||||||||||
Net Extraordinary Gains (Losses) |
29 | (622 | ) | (19,652 | ) | 19,029 | ||||||||||
Net Gains (Losses) on Disposition of Fixed Assets |
30 | (437 | ) | 347 | (785 | ) | ||||||||||
Losses on Impairment of Fixed Assets |
31 | (185 | ) | 628 | (814 | ) | ||||||||||
Reversal of Reserves for Possible Losses on Loans, etc. * |
32 | (27,513 | ) | 27,513 | ||||||||||||
Reversal of Reserve for Possible Losses on Investments |
33 | (83 | ) | 83 | ||||||||||||
|
|
|
|
|
|
|||||||||||
Income before Income Taxes |
34 | 150,346 | (119,162 | ) | 269,508 | |||||||||||
Income Taxes - Current |
35 | (11,756 | ) | (7,085 | ) | (4,670 | ) | |||||||||
- Deferred |
36 | (13,466 | ) | 35,676 | (49,142 | ) | ||||||||||
|
|
|
|
|
|
|||||||||||
Net Income |
37 | 125,123 | (90,572 | ) | 215,695 | |||||||||||
|
|
|
|
|
|
|||||||||||
__________ * Reversal of Reserves for Possible Losses on Loans, etc. [32], which had been included in Net Extraordinary Gains (Losses) until the previous period, has been presented as Reversal of Reserves for Possible Losses on Loans, etc. [26] beginning with this period. (Please refer to page 1-10 of this release for more information.) |
| |||||||||||||||
Credit-related Costs |
38 | 686 | (23,170 | ) | 23,856 | |||||||||||
__________ * Credit-related Costs [38] = 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. [26], [32] |
| |||||||||||||||
(Reference) Breakdown of Credit-related Costs |
||||||||||||||||
Reversal of (Provision for) General Reserve for Possible Losses on Loans |
39 | (7,040 | ) | (25,223 | ) | 18,183 | ||||||||||
Losses on Write-offs of Loans |
40 | 1,090 | (3,154 | ) | 4,244 | |||||||||||
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans |
41 | 6,778 | 5,987 | 791 | ||||||||||||
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries |
42 | 1 | (160 | ) | 161 | |||||||||||
Reversal of (Provision for) Reserve for Contingencies |
43 | (110 | ) | (716 | ) | 606 | ||||||||||
Other (including Losses on Sales of Loans) |
44 | (32 | ) | 97 | (129 | ) | ||||||||||
|
|
|
|
|
|
|||||||||||
Total |
45 | 686 | (23,170 | ) | 23,856 | |||||||||||
|
|
|
|
|
|
3-4
Mizuho Financial Group, Inc.
Mizuho Trust & Banking
Non-Consolidated
(Millions of yen) | ||||||||||||||||
First Half of Fiscal 2011 | First Half of Fiscal 2010 |
|||||||||||||||
Change | ||||||||||||||||
Gross Profits |
1 | 62,354 | 292 | 62,061 | ||||||||||||
Domestic Gross Profits |
2 | 56,524 | (1,322 | ) | 57,847 | |||||||||||
Net Interest Income |
3 | 19,485 | 1,245 | 18,240 | ||||||||||||
Fiduciary Income |
4 | 24,242 | 435 | 23,806 | ||||||||||||
Credit Costs for Trust Accounts *1 |
5 | | | | ||||||||||||
Net Fee and Commission Income *2 |
6 | 9,117 | 206 | 8,910 | ||||||||||||
Net Trading Income |
7 | 1,856 | (802 | ) | 2,659 | |||||||||||
Net Other Operating Income |
8 | 1,822 | (2,407 | ) | 4,230 | |||||||||||
International Gross Profits |
9 | 5,830 | 1,615 | 4,214 | ||||||||||||
Net Interest Income |
10 | 1,902 | (141 | ) | 2,043 | |||||||||||
Net Fee and Commission Income |
11 | (59 | ) | (35 | ) | (23 | ) |