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 2013

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-1, Marunouchi 2-chome

Chiyoda-ku, Tokyo 100-8333

Japan

(Address of principal executive office)

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

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

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

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

Yes ¨    Nox

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

 

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

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For Immediate Release:

 

		Financial Statements for the Second Quarter of Fiscal 2013 (Six months ended September 30, 2013) <Under Japanese GAAP>

 

Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		November 14, 2013

Stock Code Number (Japan):		8411
Stock Exchanges (Japan):		Tokyo Stock Exchange (First Section)
URL:		http://www.mizuho-fg.co.jp/english/
Representative:		Yasuhiro Sato		President & CEO
For Inquiry:		Yutaka Ueki		General Manager of Accounting		Phone: +81-3-5224-2030
Filing of Shihanki Hokokusho (scheduled):				November 28, 2013		Trading Accounts: Established
Commencement of Dividend Payment (scheduled):				December 6, 2013
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 2013 (for the six months ended September 30, 2013)

(1) Consolidated Results of Operations

 

		(%: Changes from the previous first half)
		Ordinary Income								Ordinary Profits								Net Income
		¥ million				%				¥ million				%				¥ million				%
1H F2013			1,540,570				6.4				567,377				98.5				429,745				133.2
1H F2012			1,447,821				7.6				285,747				11.4				184,276				(27.6	)

 

Note:		Comprehensive Income: 1H F2013: ¥519,875 million, 186.0%; 1H F2012: ¥181,738 million, 2.3%

 

		Net Income per Share of Common Stock				Diluted Net Income per Share of Common Stock
		¥				¥
1H F2013			17.62				16.92
1H F2012			7.49				7.24

(2) Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
1H F2013			182,149,236				8,100,621				3.4
Fiscal 2012			177,411,062				7,736,230				3.3

 

Reference:		Own Capital: As of September 30, 2013: ¥6,286,681 million; As of March 31, 2013: ¥5,927,135 million

Note:		Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Minority Interests) / Total Assets ×100 Own Capital Ratio stated above is not calculated based on the public notice of Own Capital Ratio.

2. Cash Dividends for Shareholders of Common Stock

 

		Annual Cash Dividends per Share
		First Quarter-end				Second Quarter-end				Third Quarter-end				Fiscal Year-end				Total
		¥				¥				¥				¥				¥
Fiscal 2012			—				3.00				—				3.00				6.00
Fiscal 2013			—				3.00
Fiscal 2013 (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 2013 (for the fiscal year ending March 31, 2014)

 

		(%: Changes from the previous fiscal year)
		Net Income								Net Income per Share of Common Stock
		¥ million				%				¥
Fiscal 2013			600,000				7.0				24.54

 

Notes:		1.		Revision of the latest announced earnings estimates for fiscal 2013: Yes
		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 2013” and “the number of shares as of September 30, 2013 (which is expected to be the average number of shares during the 2H of fiscal 2013)” 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 2013.

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* Notes

(1) Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation): Yes

Newly consolidated: — (Company name: —);         Excluded: 1 (Company name: Mizuho Bank, Ltd.)

 

(Note)

For more information, please refer to “(1) Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation) on page 1-2 of the attachment.

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

 Changes in accounting policies due to revisions of accounting standards, etc.: Yes

‚ Changes in accounting policies other than  above: No

ƒ Changes in accounting estimates: No

„ Restatements: No

 

(Note)

For more information, please refer to “(2) Changes in Accounting Policies and Accounting Estimates / Restatements” on page 1-2 of the attachment.

(3) Issued Shares of Common Stock

 

Non-consolidated Financial Statements

1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2013 (for the six months ended September 30, 2013)

 

(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 F2013			300,911				21.6				289,938				22.4				287,028				22.4				286,290				22.3
1H F2012			247,269				979.2				236,792				—				234,342				—				234,020				—
		Net Income per Share of Common Stock
						¥
1H F2013							11.69
1H F2012							9.56

(2) Non-Consolidated Financial Conditions

 

		Total Assets				Total Net Assets				Own Capital Ratio
		¥ million				¥ million				%
1H F2013			6,228,964				4,965,181				79.6
Fiscal 2012			6,202,149				4,788,923				77.1

 

Reference:		Own Capital: As of September 30, 2013: ¥4,963,448 million; As of March 31, 2013: ¥4,786,236 million

(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 Business Plan, realize the synergy effects of “One MIZUHO,” and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key Information—Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) which is available in the Financial Information section of our web page at www.mizuho-fg.co.jp/english/ and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

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.

 

 

 

 

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Cash Dividends for Shareholders of Classified Stock

Breakdown of cash dividends per share related to classified stock, the rights of which are different from those of common stock, is as follows:

 

		Annual Cash Dividends per Share
		First Quarter-end				Second Quarter-end				Third Quarter-end				Fiscal Year-end				Total
		¥				¥				¥				¥				¥
Eleventh Series Class XI Preferred Stock
Fiscal 2012			—				10.00				—				10.00				20.00
Fiscal 2013			—				10.00
Fiscal 2013 (estimate)											—				10.00				20.00
Thirteenth Series Class XIII Preferred Stock
Fiscal 2012			—				15.00				—				15.00				30.00
Fiscal 2013			—

(Note) Mizuho Financial Group Inc. acquired all of the Thirteenth Series Class XIII Preferred Stock as of July 11, 2013 and cancelled all of the relevant stock on the same day. Accordingly, cash dividend payment of the Thirteenth Series Class XIII Preferred Stock is not to be made in fiscal 2013.

 

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Mizuho Financial Group, Inc.

 

m Contents of Attachment

 

1.		Matters Related to Summary Information (Notes)			p.1-2
		(1) Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation)			p.1-2
		(2) Changes in Accounting Policies and Accounting Estimates / Restatements			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.1-9
3.		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
		øSELECTED FINANCIAL INFORMATION For the Second Quarter (First Half) of Fiscal 2013

[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 20, 2013 (Wednesday). 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

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Mizuho Financial Group, Inc.

 

1. Matters Related to Summary Information (Notes)

(1) Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation)

Mizuho Bank, Ltd. (MHBK) and Mizuho Corporate Bank, Ltd. (MHCB) that had been consolidated subsidiaries of Mizuho Financial Group, Inc. (MHFG) conducted an absorption-type merger, with effect on July 1, 2013, whereby MHCB is the surviving company and MHBK is the dissolving company.

As a result of this, MHBK before the merger that was MHFG’s specified subsidiary is no longer applicable to a specified subsidiary. The trade name of MHCB has been changed to Mizuho Bank, Ltd. since the effective date of this merger.

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

(Changes in accounting policies due to revisions of accounting standards and others)

(Application of “Accounting Standard for Consolidated Financial Statements” and others)

Mizuho Financial Group has applied “Accounting Standard for Consolidated Financial Statements”

(ASBJ Statement No. 22, March 25, 2011) and others beginning with this interim period and has newly included FANTASTIC FUNDING CORPORATION and other companies in consolidated subsidiaries.

This accounting standard and others have been applied to FANTASTIC FUNDING CORPORATION and other companies that have been newly included in consolidated subsidiaries in accordance with the transitional treatment stipulated in “Accounting Standard for Consolidated Financial Statements” Paragraph 44-4 (3). At the beginning of the first fiscal year of the application, the assets, the liabilities, and the minority interests of FANTASTIC FUNDING CORPORATION and other companies have been recorded at the accurate book value in the consolidated financial statements. As a result of this, the effect of this application on the retained earnings at the beginning of this interim period is immaterial.

 

1-2

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Mizuho Financial Group, Inc.

 

2. Interim Consolidated Financial Statements

(1) Consolidated Balance Sheets

 

		Millions of yen
		As of March 31, 2013				As of September 30, 2013
Assets
Cash and Due from Banks		¥	12,333,997			¥	18,133,429
Call Loans and Bills Purchased			530,541				361,000
Receivables under Resale Agreements			9,025,049				12,157,183
Guarantee Deposits Paid under Securities Borrowing Transactions			5,543,914				5,586,262
Other Debt Purchased			1,279,964				2,978,895
Trading Assets			14,076,928				13,942,483
Money Held in Trust			96,014				128,874
Securities			53,472,399				46,601,342
Loans and Bills Discounted			67,536,882				67,435,232
Foreign Exchange Assets			1,412,601				1,338,201
Derivatives other than for Trading Assets			4,475,055				3,318,853
Other Assets			2,599,553				5,058,186
Tangible Fixed Assets			901,085				906,531
Intangible Fixed Assets			477,546				488,626
Deferred Tax Assets			165,299				147,872
Customers’ Liabilities for Acceptances and Guarantees			4,224,259				4,211,350
Reserves for Possible Losses on Loans			(739,990	)			(645,063	)
Reserve for Possible Losses on Investments			(40	)			(28	)
Total Assets		¥	177,411,062			¥	182,149,236

 

1-3

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Mizuho Financial Group, Inc.

 

		Millions of yen
		As of March 31, 2013				As of September 30, 2013
Liabilities
Deposits		¥	84,241,955			¥	86,720,758
Negotiable Certificates of Deposit			15,326,781				14,916,975
Call Money and Bills Sold			6,126,424				5,608,146
Payables under Repurchase Agreements			17,451,041				20,494,636
Guarantee Deposits Received under Securities Lending Transactions			11,325,439				7,306,493
Commercial Paper			472,718				619,956
Trading Liabilities			7,686,442				7,169,893
Borrowed Money			7,699,440				9,360,535
Foreign Exchange Liabilities			182,473				233,507
Short-term Bonds			477,400				568,197
Bonds and Notes			5,141,746				5,131,982
Due to Trust Accounts			1,120,696				1,253,759
Derivatives other than for Trading Liabilities			4,404,754				3,463,391
Other Liabilities			3,501,064				6,715,045
Reserve for Bonus Payments			45,754				36,325
Reserve for Employee Retirement Benefits			38,632				40,659
Reserve for Director and Corporate Auditor Retirement Benefits			1,612				1,323
Reserve for Possible Losses on Sales of Loans			48				346
Reserve for Contingencies			16,859				19,111
Reserve for Reimbursement of Deposits			16,464				16,654
Reserve for Reimbursement of Debentures			35,417				47,588
Reserves under Special Laws			1,203				1,049
Deferred Tax Liabilities			54,221				29,470
Deferred Tax Liabilities for Revaluation Reserve for Land			81,977				81,455
Acceptances and Guarantees			4,224,259				4,211,350
Total Liabilities			169,674,832				174,048,615
Net Assets
Common Stock and Preferred Stock			2,254,972				2,254,972
Capital Surplus			1,109,508				1,109,508
Retained Earnings			1,814,782				2,132,117
Treasury Stock			(4,661	)			(3,846	)
Total Shareholders’ Equity			5,174,601				5,492,751
Net Unrealized Gains (Losses) on Other Securities			615,883				729,899
Deferred Gains or Losses on Hedges			84,634				(4,990	)
Revaluation Reserve for Land			142,345				141,461
Foreign Currency Translation Adjustments			(90,329	)			(72,440	)
Total Accumulated Other Comprehensive Income			752,533				793,929
Stock Acquisition Rights			2,687				1,733
Minority Interests			1,806,407				1,812,207
Total Net Assets			7,736,230				8,100,621
Total Liabilities and Net Assets		¥	177,411,062			¥	182,149,236

 

1-4

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Mizuho Financial Group, Inc.

 

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

[Consolidated Statements of Income]

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Ordinary Income		¥	1,447,821			¥	1,540,570
Interest Income			694,989				710,234
Interest on Loans and Bills Discounted			440,615				460,427
Interest and Dividends on Securities			168,509				163,044
Fiduciary Income			23,913				25,735
Fee and Commission Income			270,722				339,972
Trading Income			122,453				111,399
Other Operating Income			246,823				150,010
Other Ordinary Income			88,920				203,217
Ordinary Expenses			1,162,074				973,192
Interest Expenses			161,963				156,249
Interest on Deposits			45,915				50,635
Fee and Commission Expenses			56,257				64,594
Trading Expenses			—				4,268
Other Operating Expenses			36,631				69,264
General and Administrative Expenses			607,327				614,304
Other Ordinary Expenses			299,895				64,510
Ordinary Profits			285,747				567,377
Extraordinary Gains			974				529
Extraordinary Losses			9,307				4,532
Income before Income Taxes and Minority Interests			277,414				563,374
Income Taxes:
Current			128,502				71,836
Refund of Income Taxes			(46	)			(4,393	)
Deferred			(77,383	)			24,134
Total Income Taxes			51,073				91,577
Net Income before Minority Interests			226,341				471,797
Minority Interests in Net Income			42,064				42,051
Net Income		¥	184,276			¥	429,745

 

1-5

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Mizuho Financial Group, Inc.

 

[Consolidated Statements of Comprehensive Income]

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Income before Minority Interests		¥	226,341			¥	471,797
Other Comprehensive Income			(44,602	)			48,077
Net Unrealized Gains (Losses) on Other Securities			(70,559	)			117,890
Deferred Gains or Losses on Hedges			26,986				(89,792	)
Revaluation Reserve for Land			(0	)			21
Foreign Currency Translation Adjustments			(1,874	)			11,818
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method			845				8,140
Comprehensive Income			181,738				519,875
(Breakdown)
Comprehensive Income Attributable to Owners of the Parent			138,991				472,047
Comprehensive Income Attributable to Minority Interests			42,747				47,827

 

1-6

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Mizuho Financial Group, Inc.

 

(3) Consolidated Statements of Changes in Net Assets

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Shareholders’ Equity
Common Stock and Preferred Stock
Balance as of the beginning of the period		¥	2,254,972			¥	2,254,972
Changes during the period
Total Changes during the period			—				—
Balance as of the end of the period			2,254,972				2,254,972
Capital Surplus
Balance as of the beginning of the period			1,109,783				1,109,508
Changes during the period
Disposition of Treasury Stock			(275	)			—
Total Changes during the period			(275	)			—
Balance as of the end of the period			1,109,508				1,109,508
Retained Earnings
Balance as of the beginning of the period			1,405,066				1,814,782
Changes during the period
Cash Dividends			(76,322	)			(76,392	)
Net Income			184,276				429,745
Disposition of Treasury Stock			(344	)			(27	)
Cancellation of Treasury Stock			—				(36,997	)
Transfer from Revaluation Reserve for Land			1,185				905
Change of scope of consolidation			—				(3	)
Increase in Retained Earnings due to change of accounting period of subsidiaries			—				104
Total Changes during the period			108,795				317,334
Balance as of the end of the period			1,513,862				2,132,117
Treasury Stock
Balance as of the beginning of the period			(7,074	)			(4,661	)
Changes during the period
Repurchase of Treasury Stock			(246	)			(37,238	)
Disposition of Treasury Stock			2,603				1,055
Cancellation of Treasury Stock			—				36,997
Total Changes during the period			2,357				814
Balance as of the end of the period		¥	(4,716	)		¥	(3,846	)

 

1-7

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Mizuho Financial Group, Inc.

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Total Shareholders’ Equity
Balance as of the beginning of the period		¥	4,762,749			¥	5,174,601
Changes during the period
Cash Dividends			(76,322	)			(76,392	)
Net Income			184,276				429,745
Repurchase of Treasury Stock			(246	)			(37,238	)
Disposition of Treasury Stock			1,984				1,028
Transfer from Revaluation Reserve for Land			1,185				905
Change of scope of consolidation			—				(3	)
Increase in Retained Earnings due to change of accounting period of subsidiaries			—				104
Total Changes during the period			110,877				318,149
Balance as of the end of the period			4,873,626				5,492,751
Accumulated Other Comprehensive Income
Net Unrealized Gains (Losses) on Other Securities
Balance as of the beginning of the period			37,857				615,883
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(71,282	)			114,015
Total Changes during the period			(71,282	)			114,015
Balance as of the end of the period			(33,425	)			729,899
Deferred Gains or Losses on Hedges
Balance as of the beginning of the period			67,045				84,634
Changes during the period
Net Changes in Items other than Shareholders’ Equity			27,080				(89,624	)
Total Changes during the period			27,080				(89,624	)
Balance as of the end of the period			94,126				(4,990	)
Revaluation Reserve for Land
Balance as of the beginning of the period			144,635				142,345
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(1,186	)			(884	)
Total Changes during the period			(1,186	)			(884	)
Balance as of the end of the period		¥	143,449			¥	141,461

 

1-8

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Mizuho Financial Group, Inc.

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Foreign Currency Translation Adjustments
Balance as of the beginning of the period		¥	(102,850	)		¥	(90,329	)
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(1,082	)			17,889
Total Changes during the period			(1,082	)			17,889
Balance as of the end of the period			(103,933	)			(72,440	)
Total Accumulated Other Comprehensive Income
Balance as of the beginning of the period			146,687				752,533
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(46,470	)			41,396
Total Changes during the period			(46,470	)			41,396
Balance as of the end of the period			100,216				793,929
Stock Acquisition Rights
Balance as of the beginning of the period			2,158				2,687
Changes during the period
Net Changes in Items other than Shareholders’ Equity			590				(954	)
Total Changes during the period			590				(954	)
Balance as of the end of the period			2,749				1,733
Minority Interests
Balance as of the beginning of the period			1,957,699				1,806,407
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(182,447	)			5,799
Total Changes during the period			(182,447	)			5,799
Balance as of the end of the period			1,775,252				1,812,207
Total Net Assets
Balance as of the beginning of the period			6,869,295				7,736,230
Changes during the period
Cash Dividends			(76,322	)			(76,392	)
Net Income			184,276				429,745
Repurchase of Treasury Stock			(246	)			(37,238	)
Disposition of Treasury Stock			1,984				1,028
Transfer from Revaluation Reserve for Land			1,185				905
Change of scope of consolidation			—				(3	)
Increase in Retained Earnings due to change of accounting period of subsidiaries			—				104
Net Changes in Items other than Shareholders’ Equity			(228,327	)			46,241
Total Changes during the period			(117,449	)			364,391
Balance as of the end of the period		¥	6,751,845			¥	8,100,621

(4) Note for Assumption of Going Concern

There is no applicable information.

 

1-9

---

Mizuho Financial Group, Inc.

 

3. Interim Non-Consolidated Financial Statements

(1) Non-Consolidated Balance Sheets

 

		Millions of yen
		As of March 31, 2013				As of September 30, 2013
Assets
Current Assets
Cash and Due from Banks		¥	26,365			¥	13,365
Accounts Receivable			47,280				58,949
Other Current Assets			7,664				9,896
Total Current Assets			81,311				82,211
Fixed Assets
Tangible Fixed Assets			4,585				7,605
Intangible Fixed Assets			2,611				3,421
Investments			6,113,641				6,135,726
Investments in Subsidiaries and Affiliates			6,023,433				6,023,433
Other Investments			90,208				112,293
Total Fixed Assets			6,120,838				6,146,753
Total Assets		¥	6,202,149			¥	6,228,964
Liabilities
Current Liabilities
Short-term Borrowings		¥	646,995			¥	478,875
Short-term Bonds			500,000				500,000
Accrued Corporate Taxes			94				123
Reserve for Bonus Payments			272				261
Other Current Liabilities			6,466				7,695
Total Current Liabilities			1,153,827				986,954
Non-Current Liabilities
Bonds and Notes			240,000				240,000
Reserve for Employee Retirement Benefits			2,258				2,558
Asset Retirement Obligations			643				644
Other Non-Current Liabilities			16,496				33,626
Total Non-Current Liabilities			259,398				276,828
Total Liabilities		¥	1,413,226			¥	1,263,783
Net Assets
Shareholders’ Equity
Common Stock and Preferred Stock		¥	2,254,972			¥	2,254,972
Capital Surplus
Capital Reserve			1,194,864				1,194,864
Total Capital Surplus			1,194,864				1,194,864
Retained Earnings
Appropriated Reserve			4,350				4,350
Other Retained Earnings			1,318,948				1,491,821
Retained Earnings Brought Forward			1,318,948				1,491,821
Total Retained Earnings			1,323,298				1,496,171
Treasury Stock			(4,295	)			(3,310	)
Total Shareholders’ Equity			4,768,840				4,942,698
Valuation and Translation Adjustments
Net Unrealized Gains (Losses) on Other Securities, net of Taxes			17,395				20,749
Total Valuation and Translation Adjustments			17,395				20,749
Stock Acquisition Rights			2,687				1,733
Total Net Assets			4,788,923				4,965,181
Total Liabilities and Net Assets		¥	6,202,149			¥	6,228,964

 

1-10

---

Mizuho Financial Group, Inc.

 

(2) Non-Consolidated Statements of Income

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Operating Income		¥	247,269			¥	300,911
Operating Expenses
General and Administrative Expenses			10,476				10,972
Total Operating Expenses			10,476				10,972
Operating Profits			236,792				289,938
Non-Operating Income			5,892				6,268
Non-Operating Expenses			8,342				9,178
Ordinary Profits			234,342				287,028
Extraordinary Losses			0				350
Income before Income Taxes			234,341				286,677
Income Taxes:
Current			200				253
Deferred			121				133
Total Income Taxes			321				387
Net Income		¥	234,020			¥	286,290

 

1-11

---

Mizuho Financial Group, Inc.

 

(3) Non-Consolidated Statements of Changes in Net Assets

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Shareholders’ Equity
Common Stock and Preferred Stock
Balance as of the beginning of the period		¥	2,254,972			¥	2,254,972
Changes during the period
Total Changes during the period			—				—
Balance as of the end of the period			2,254,972				2,254,972
Capital Surplus
Capital Reserve
Balance as of the beginning of the period			1,194,864				1,194,864
Changes during the period
Total Changes during the period			—				—
Balance as of the end of the period			1,194,864				1,194,864
Total Capital Surplus
Balance as of the beginning of the period			1,194,864				1,194,864
Changes during the period
Total Changes during the period			—				—
Balance as of the end of the period			1,194,864				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			1,230,688				1,318,948
Changes during the period
Cash Dividends			(76,350	)			(76,392	)
Net Income			234,020				286,290
Disposition of Treasury Stock			(344	)			(27	)
Cancellation of Treasury Stock			—				(36,997	)
Total Changes during the period			157,325				172,873
Balance as of the end of the period			1,388,014				1,491,821
Total Retained Earnings
Balance as of the beginning of the period			1,235,038				1,323,298
Changes during the period
Cash Dividends			(76,350	)			(76,392	)
Net Income			234,020				286,290
Disposition of Treasury Stock			(344	)			(27	)
Cancellation of Treasury Stock			—				(36,997	)
Total Changes during the period			157,325				172,873
Balance as of the end of the period		¥	1,392,364			¥	1,496,171

 

1-12

---

Mizuho Financial Group, Inc.

 

		Millions of yen
		For the six months ended September 30, 2012				For the six months ended September 30, 2013
Treasury Stock
Balance as of the beginning of the period		¥	(5,453	)		¥	(4,295	)
Changes during the period
Repurchase of Treasury Stock			(2	)			(37,004	)
Disposition of Treasury Stock			1,094				991
Cancellation of Treasury Stock			—				36,997
Total Changes during the period			1,091				984
Balance as of the end of the period			(4,361	)			(3,310	)
Total Shareholders’ Equity
Balance as of the beginning of the period			4,679,422				4,768,840
Changes during the period
Cash Dividends			(76,350	)			(76,392	)
Net Income			234,020				286,290
Repurchase of Treasury Stock			(2	)			(37,004	)
Disposition of Treasury Stock			749				963
Total Changes during the period			158,417				173,858
Balance as of the end of the period			4,837,840				4,942,698
Valuation and Translation Adjustments
Net Unrealized Gains (Losses) on Other Securities, net of Taxes
Balance as of the beginning of the period			6,753				17,395
Changes during the period
Net Changes in Items other than Shareholders’ Equity			(4,456	)			3,353
Total Changes during the period			(4,456	)			3,353
Balance as of the end of the period			2,296				20,749
Stock Acquisition Rights
Balance as of the beginning of the period			2,158				2,687
Changes during the period
Net Changes in Items other than Shareholders’ Equity			590				(954	)
Total Changes during the period			590				(954	)
Balance as of the end of the period			2,749				1,733
Total Net Assets
Balance as of the beginning of the period			4,688,334				4,788,923
Changes during the period
Cash Dividends			(76,350	)			(76,392	)
Net Income			234,020				286,290
Repurchase of Treasury Stock			(2	)			(37,004	)
Disposition of Treasury Stock			749				963
Net Changes in Items other than Shareholders’ Equity			(3,865	)			2,399
Total Changes during the period			154,551				176,257
Balance as of the end of the period		¥	4,842,886			¥	4,965,181

(4) Note for Assumption of Going Concern

There is no applicable information.

 

1-13

---

SELECTED FINANCIAL INFORMATION

For the Second Quarter (First Half) of Fiscal 2013

(Six months ended September 30, 2013)

<Under Japanese GAAP>

 

 

 

Mizuho Financial Group, Inc.

---

C O N T E N T S

 

 

Notes:

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

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

 

Non-consolidated figures for MHBK for previous periods are aggregate figures for former MHBK and former Mizuho Corporate Bank, Ltd. (“MHCB”).

 

Aggregate figures for the 2 banks (MHBK and MHTB) for previous periods are aggregate figures for former MHBK, former MHCB, and MHTB.

 

The surviving company after the merger is former MHCB and figures for MHBK include figures for former MHCB.

“HC”: Non-consolidated figures for Mizuho Financial Group, Inc.

 

 

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2013

See above Notes

Page

1. Income Analysis

CON

NON

2-1

2. Interest Margins (Domestic Operations)

NON

2-5

3. Net Gains/Losses on Securities

NON

2-6

4. Unrealized Gains/Losses on Securities

CON

NON

2-8

5. Projected Redemption Amounts for Securities

NON

2-10

6. Overview of Derivative Transactions Qualifying for Hedge Accounting

NON

2-11

7. Employee Retirement Benefits

NON

CON

2-12

8. Capital Ratio (Basel III)

CON

NON

2-14

 

II. REVIEW OF CREDITS

See above Notes

Page

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

CON

NON

2-15

2. Status of Reserves for Possible Losses on Loans

CON

NON

2-17

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

CON

NON

2-18

4. Status of Disclosed Claims under the Financial Reconstruction Law (“FRL”)

CON

NON

2-19

5. Coverage on Disclosed Claims under the FRL

NON

2-21

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

NON

2-23

7. Results of Removal of NPLs from the Balance Sheet

NON

2-24

8. Status of Loans by Industry

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

NON

2-25

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

NON

2-27

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

(1)    Balance of Housing and Consumer Loans

NON

2-28

(2)    Loans to SMEs and Individual Customers

NON

2-28

10. Status of Loans by Region

NON

2-29

 

III. DEFERRED TAXES

See above Notes

Page

1. Estimation for Calculating Deferred Tax Assets

NON

CON

2-30

---

IV. OTHERS

See above Notes

Page

1. Breakdown of Deposits (Domestic Offices)

NON

2-33

2. Number of Directors and Employees

HC

NON

2-34

3. Number of Branches and Offices

NON

2-35

4. Earnings Plan for Fiscal 2013

CON

NON

2-36

Attachments

See above Notes

Page

Mizuho Bank, Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

NON

2-37

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

NON

2-38

Non-Consolidated Statement of Changes in Net Assets

NON

2-39

Mizuho Trust & Banking Co., Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

NON

2-40

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

NON

2-41

Non-Consolidated Statement of Changes in Net Assets

NON

2-42

Statement of Trust Assets and Liabilities

NON

2-43

Comparison of Balances of Principal Items

NON

2-44

 

 

This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance.

In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “endeavor,” “estimate,” “expect,” “intend,” “may,” “plan,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target” and similar expressions in relation to us or our management to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our Medium-term Business Plan, realize the synergy effects of “One MIZUHO,” and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key Information—Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) which is available in the Financial Information section of our web page at www.mizuho-fg.co.jp/english/ and also at the SEC’s web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

 

---

Mizuho Financial Group, Inc.

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2013

1. Income Analysis

Consolidated

 

						(Millions of yen)
						First Half of Fiscal 2013
										Change				First Half of Fiscal 2012
Consolidated Gross Profits			1				1,042,975				(61,074	)			1,104,049
Net Interest Income			2				553,985				20,958				533,026
Fiduciary Income			3				25,735				1,821				23,913
Credit Costs for Trust Accounts			4				—				—				—
Net Fee and Commission Income			5				275,378				60,913				214,464
Net Trading Income			6				107,131				(15,322	)			122,453
Net Other Operating Income			7				80,746				(129,446	)			210,192
General and Administrative Expenses			8				(614,304	)			(6,977	)			(607,327	)
Personnel Expenses			9				(302,346	)			1,862				(304,209	)
Non-Personnel Expenses			10				(286,759	)			(9,308	)			(277,451	)
Miscellaneous Taxes			11				(25,198	)			468				(25,666	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans)			12				(15,837	)			3,754				(19,592	)
Losses on Write-offs of Loans			13				(15,835	)			3,788				(19,623	)
Reversal of Reserves for Possible Losses on Loans, etc.			14				92,848				67,299				25,548
Net Gains (Losses) related to Stocks			15				39,032				266,629				(227,596	)
Equity in Income from Investments in Affiliates			16				13,680				8,161				5,519
Other			17				8,983				3,837				5,146
Ordinary Profits			18				567,377				281,630				285,747
Net Extraordinary Gains (Losses)			19				(4,003	)			4,329				(8,332	)
Income before Income Taxes and Minority Interests			20				563,374				285,960				277,414
Income Taxes—Current *			21				(67,443	)			61,013				(128,456	)
—Deferred			22				(24,134	)			(101,517	)			77,383
Net Income before Minority Interests			23				471,797				245,456				226,341
Minority Interests in Net Income			24				(42,051	)			12				(42,064	)
Net Income			25				429,745				245,469				184,276
* Income Taxes—Current [21] includes Refund of Income Tax.
Credit-related Costs (including Credit Costs for Trust Accounts)			26				77,010				71,054				5,955
* Credit-related Costs [26] =     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] + Credit Costs for Trust Accounts [4]
(Reference)
Consolidated Net Business Profits			27				418,616				(80,733	)			499,349
* Consolidated Net Business Profits [27] =  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			28				161				13				148
Number of affiliates under the equity method			29				22				—				22

 

2-1

---

Mizuho Financial Group, Inc.

 

Aggregate Figures for the 2 Banks

Non-Consolidated

 

						(Millions of yen)
						First Half of Fiscal 2013																				First Half of Fiscal 2012
						MHBK (Apr. - Sep.) *3				Former MHBK (Apr. - Jun.)				MHTB				Aggregate Figures				Change
Gross Profits			1				538,551				185,804				60,686				785,042				(95,146	)			880,189
Domestic Gross Profits			2				292,429				152,020				53,815				498,265				(80,968	)			579,233
Net Interest Income			3				211,178				113,605				15,551				340,335				(22,901	)			363,236
Fiduciary Income			4												25,446				25,446				1,863				23,583
Jointly Operated Designated Money Trust			5												1,625				1,625				161				1,463
Credit Costs for Trust Accounts *1			6												—				—				—				—
Net Fee and Commission Income			7				80,338				34,994				11,629				126,962				22,762				104,200
Net Trading Income			8				(8,558	)			831				(2,318	)			(10,045	)			(25,452	)			15,407
Net Other Operating Income			9				9,470				2,588				3,506				15,565				(57,240	)			72,806
International Gross Profits			10				246,122				33,783				6,870				286,777				(14,178	)			300,955
Net Interest Income			11				136,270				10,038				3,364				149,673				37,143				112,529
Net Fee and Commission Income			12				53,107				3,094				(167	)			56,033				12,315				43,718
Net Trading Income			13				38,887				(7,830	)			3,767				34,825				4,855				29,969
Net Other Operating Income			14				17,856				28,481				(93	)			46,244				(68,493	)			114,738
General and Administrative Expenses (excluding Non-Recurring Losses)			15				(254,661	)			(132,088	)			(36,998	)			(423,748	)			(7,012	)			(416,735	)
Expense Ratio			16				47.2	%			71.0	%			60.9	%			53.9	%			6.6	%			47.3	%
Personnel Expenses			17				(97,331	)			(46,567	)			(16,911	)			(160,810	)			(5,937	)			(154,872	)
Non-Personnel Expenses			18				(145,137	)			(78,411	)			(18,805	)			(242,354	)			(1,944	)			(240,409	)
Premium for Deposit Insurance			19				(12,866	)			(10,003	)			(900	)			(23,769	)			(67	)			(23,702	)
Miscellaneous Taxes			20				(12,192	)			(7,108	)			(1,281	)			(20,583	)			870				(21,454	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)			21				283,890				53,716				23,688				361,294				(102,158	)			463,453
Excluding Net Gains (Losses) related to Bonds			22				262,708				40,007				19,996				322,712				36,309				286,402
Reversal of (Provision for) General Reserve for Possible Losses on Loans			23				—				—				—				—				3,100				(3,100	)
Net Business Profits			24				283,890				53,716				23,688				361,294				(99,058	)			460,353
Net Gains (Losses) related to Bonds			25				21,182				13,709				3,691				38,582				(138,468	)			177,051
Net Non-Recurring Gains (Losses)			26				81,162				17,087				6,262				104,512				406,772				(302,259	)
Net Gains (Losses) related to Stocks			27				14,429				5,864				6,952				27,247				301,724				(274,477	)
Expenses related to Portfolio Problems			28				(6,104	)			(5,630	)			(261	)			(11,996	)			4,747				(16,743	)
Reversal of Reserves for Possible Losses on Loans, etc.			29				74,985				14,735				1,399				91,120				70,457				20,662
Other			30				(2,148	)			2,118				(1,828	)			(1,858	)			29,842				(31,700	)
Ordinary Profits			31				365,052				70,803				29,950				465,807				307,713				158,093
Net Extraordinary Gains (Losses)			32				(717	)			(674	)			(1,430	)			(2,821	)			1,010				(3,832	)
Net Gains (Losses) on Disposition of Fixed Assets			33				(159	)			(674	)			(1,111	)			(1,945	)			(225	)			(1,719	)
Losses on Impairment of Fixed Assets			34				(557	)			—				(319	)			(876	)			1,236				(2,112	)
Income before Income Taxes			35				364,335				70,129				28,520				462,985				308,724				154,260
Income Taxes—Current *2			36				(17,953	)			(26,259	)			(10,306	)			(54,519	)			63,652				(118,172	)
—Deferred			37				(86,847	)			41,107				8,997				(36,742	)			(113,891	)			77,148
Net Income			38				259,533				84,977				27,211				371,722				258,485				113,236
*1      Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) for MHTB excludes the amounts of “Credit Costs for Trust Accounts” [6].
*2      Income Taxes—Current [36] includes Refund of Income Tax.
*3      Figures for MHBK for the first half of fiscal 2013 are the aggregate figures for former MHCB for the first quarter and MHBK for the second quarter.
Credit-related Costs			39				68,880				9,104				1,138				79,123				78,305				818
* Credit-related  Costs  [39]  =   Expenses related to Portfolio Problems [28] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [23] + Reversal of Reserves for Possible Losses on Loans, etc. [29] + Credit  Costs for Trust Accounts [6]
(Reference) Breakdown of Credit-related Costs
Credit Costs for Trust Accounts			40												—				—				—				—
Reversal of (Provision for) General Reserve for Possible Losses on Loans			41				60,012				10,582				186				70,781				53,207				17,573
Losses on Write-offs of Loans			42				2,451				(780	)			(261	)			1,410				4,844				(3,433	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			43				3,531				(441	)			1,159				4,249				17,912				(13,663	)
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			44				25				—				0				25				25				(0	)
Reversal of (Provision for) Reserve for Contingencies			45				2,970				—				53				3,024				2,454				569
Other (including Losses on Sales of Loans)			46				(109	)			(256	)			—				(366	)			(138	)			(227	)
Total			47				68,880				9,104				1,138				79,123				78,305				818

 

2-2

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Mizuho Financial Group, Inc.

 

Mizuho Bank

Non-Consolidated

 

						(Millions of yen)
						First Half of Fiscal 2013																First Half of Fiscal 2012
						MHBK (Apr. - Sep.) *2				Former MHBK (Apr. - Jun.)				Aggregate Figures				Change
Gross Profits			1				538,551				185,804				724,356				(96,594	)			820,950
Domestic Gross Profits			2				292,429				152,020				444,449				(78,980	)			523,430
Net Interest Income			3				211,178				113,605				324,784				(18,862	)			343,646
Net Fee and Commission Income			4				80,338				34,994				115,333				19,382				95,950
Net Trading Income			5				(8,558	)			831				(7,726	)			(21,211	)			13,484
Net Other Operating Income			6				9,470				2,588				12,059				(58,289	)			70,349
International Gross Profits			7				246,122				33,783				279,906				(17,613	)			297,519
Net Interest Income			8				136,270				10,038				146,309				35,368				110,940
Net Fee and Commission Income			9				53,107				3,094				56,201				12,306				43,895
Net Trading Income			10				38,887				(7,830	)			31,057				(168	)			31,225
Net Other Operating Income			11				17,856				28,481				46,338				(65,120	)			111,458
General and Administrative Expenses (excluding Non-Recurring Losses)			12				(254,661	)			(132,088	)			(386,749	)			(7,132	)			(379,617	)
Expense Ratio			13				47.2	%			71.0	%			53.3	%			7.1	%			46.2	%
Personnel Expenses			14				(97,331	)			(46,567	)			(143,899	)			(5,973	)			(137,925	)
Non-Personnel Expenses			15				(145,137	)			(78,411	)			(223,548	)			(2,124	)			(221,424	)
Premium for Deposit Insurance			16				(12,866	)			(10,003	)			(22,869	)			(115	)			(22,754	)
Miscellaneous Taxes			17				(12,192	)			(7,108	)			(19,301	)			966				(20,267	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)			18				283,890				53,716				337,606				(103,726	)			441,333
Excluding Net Gains (Losses) related to Bonds			19				262,708				40,007				302,715				32,612				270,103
Reversal of (Provision for) General Reserve for Possible Losses on Loans			20				—				—				—				3,100				(3,100	)
Net Business Profits			21				283,890				53,716				337,606				(100,626	)			438,232
Net Gains (Losses) related to Bonds			22				21,182				13,709				34,891				(136,339	)			171,230
Net Non-Recurring Gains (Losses)			23				81,162				17,087				98,249				381,244				(282,995	)
Net Gains (Losses) related to Stocks			24				14,429				5,864				20,294				278,361				(258,066	)
Expenses related to Portfolio Problems			25				(6,104	)			(5,630	)			(11,734	)			4,749				(16,484	)
Reversal of Reserves for Possible Losses on Loans, etc.			26				74,985				14,735				89,720				70,535				19,184
Other			27				(2,148	)			2,118				(30	)			27,598				(27,629	)
Ordinary Profits			28				365,052				70,803				435,856				280,618				155,237
Net Extraordinary Gains (Losses)			29				(717	)			(674	)			(1,391	)			2,013				(3,405	)
Net Gains (Losses) on Disposition of Fixed Assets			30				(159	)			(674	)			(834	)			477				(1,311	)
Losses on Impairment of Fixed Assets			31				(557	)			—				(557	)			1,536				(2,093	)
Income before Income Taxes			32				364,335				70,129				434,464				282,632				151,832
Income Taxes—Current *1			33				(17,953	)			(26,259	)			(44,212	)			70,452				(114,665	)
—Deferred			34				(86,847	)			41,107				(45,740	)			(119,846	)			74,105
Net Income			35				259,533				84,977				344,510				233,238				111,272
*1 Income Taxes—Current [33] includes Refund of Income Tax.
*2 Figures for MHBK for the first half of fiscal 2013 are the aggregate figures for former MHCB for the first quarter and MHBK for the second quarter.
Credit-related Costs			36				68,880				9,104				77,985				78,385				(400	)
* Credit-related Costs [36] =     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]
(Reference) Breakdown of Credit-related Costs
Reversal of (Provision for) General Reserve for Possible Losses on Loans			37				60,012				10,582				70,594				54,794				15,799
Losses on Write-offs of Loans			38				2,451				(780	)			1,671				4,846				(3,175	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			39				3,531				(441	)			3,089				16,221				(13,131	)
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			40				25				—				25				25				(0	)
Reversal of (Provision for) Reserve for Contingencies			41				2,970				—				2,970				2,635				334
Other (including Losses on Sales of Loans)			42				(109	)			(256	)			(366	)			(138	)			(227	)
Total			43				68,880				9,104				77,985				78,385				(400	)

 

2-3

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Mizuho Financial Group, Inc.

 

Mizuho Trust & Banking

Non-Consolidated

 

						(Millions of yen)
						First Half of Fiscal 2013								First Half of Fiscal 2012
										Change
Gross Profits			1				60,686				1,447				59,239
Domestic Gross Profits			2				53,815				(1,987	)			55,803
Net Interest Income			3				15,551				(4,039	)			19,590
Fiduciary Income			4				25,446				1,863				23,583
Jointly Operated Designated Money Trust			5				1,625				161				1,463
Credit Costs for Trust Accounts *			6				—				—				—
Net Fee and Commission Income			7				11,629				3,379				8,249
Net Trading Income			8				(2,318	)			(4,240	)			1,922
Net Other Operating Income			9				3,506				1,049				2,457
International Gross Profits			10				6,870				3,434				3,436
Net Interest Income			11				3,364				1,774				1,589
Net Fee and Commission Income			12				(167	)			9				(176	)
Net Trading Income			13				3,767				5,023				(1,256	)
Net Other Operating Income			14				(93	)			(3,373	)			3,280
General and Administrative Expenses (excluding Non-Recurring Losses)			15				(36,998	)			120				(37,118	)
Expense Ratio			16				60.9	%			(1.6	%)			62.6	%
Personnel Expenses			17				(16,911	)			35				(16,946	)
Non-Personnel Expenses			18				(18,805	)			180				(18,985	)
Premium for Deposit Insurance			19				(900	)			48				(948	)
Miscellaneous Taxes			20				(1,281	)			(95	)			(1,186	)
Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)			21				23,688				1,567				22,120
Excluding Net Gains (Losses) related to Bonds			22				19,996				3,697				16,299
Reversal of (Provision for) General Reserve for Possible Losses on Loans			23				—				—				—
Net Business Profits			24				23,688				1,567				22,120
Net Gains (Losses) related to Bonds			25				3,691				(2,129	)			5,820
Net Non-Recurring Gains (Losses)			26				6,262				25,527				(19,264	)
Net Gains (Losses) related to Stocks			27				6,952				23,363				(16,411	)
Expenses related to Portfolio Problems			28				(261	)			(2	)			(258	)
Reversal of Reserves for Possible Losses on Loans, etc.			29				1,399				(77	)			1,477
Other			30				(1,828	)			2,243				(4,071	)
Ordinary Profits			31				29,950				27,094				2,856
Net Extraordinary Gains (Losses)			32				(1,430	)			(1,002	)			(427	)
Net Gains (Losses) on Disposition of Fixed Assets			33				(1,111	)			(703	)			(408	)
Losses on Impairment of Fixed Assets			34				(319	)			(299	)			(19	)
Income before Income Taxes			35				28,520				26,091				2,428
Income Taxes—Current			36				(10,306	)			(6,799	)			(3,507	)
—Deferred			37				8,997				5,954				3,043
Net Income			38				27,211				25,246				1,964
* Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) excludes the amounts of “Credit Costs for Trust Accounts” [6].
Credit-related Costs			39				1,138				(79	)			1,218
* Credit-related Costs [39] =     Expenses related to Portfolio Problems [28] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [23] + Reversal of Reserves for Possible Losses on Loans, etc. [29] + Credit Costs for Trust Accounts [6]
(Reference) Breakdown of Credit-related Costs
Credit Costs for Trust Accounts			40				—				—				—
Reversal of (Provision for) General Reserve for Possible Losses on Loans			41				186				(1,587	)			1,773
Losses on Write-offs of Loans			42				(261	)			(2	)			(258	)
Reversal of (Provision for) Specific Reserve for Possible Losses on Loans			43				1,159				1,690				(531	)
Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries			44				0				0				0
Reversal of (Provision for) Reserve for Contingencies			45				53				(181	)			234
Other (including Losses on Sales of Loans)			46				—				—				—
Total			47				1,138				(79	)			1,218

 

2-4

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Mizuho Financial Group, Inc.

 

2. Interest Margins (Domestic Operations)

Non-Consolidated

 

								(%)
								First Half of Fiscal 2013																First Half of Fiscal 2012
Mizuho Bank								MHBK (Apr. - Sep.) *3				Former MHBK (Apr. - Jun.)				Aggregate Figures				Change
Return on Interest-Earning Assets					1				0.75				0.76				0.75				(0.04	)			0.79
Return on Loans and Bills Discounted *1					2				1.05				1.27				1.12				(0.07	)			1.19
Return on Securities					3				0.59				0.34				0.51				0.05				0.45
Cost of Funding (including Expenses)					4				0.69				0.83				0.74				(0.00	)			0.74
Cost of Deposits (including Expenses)					5				0.83				0.88				0.85				(0.05	)			0.90
Cost of Deposits *2					6				0.05				0.04				0.05				(0.00	)			0.06
Cost of Other External Liabilities					7				0.22				0.18				0.21				(0.02	)			0.24
Net Interest Margin		(1)-(4)			8				0.06				(0.07	)			0.01				(0.03	)			0.04
Loan and Deposit Rate Margin (including Expenses)		(2)-(5)			9				0.22				0.38				0.26				(0.02	)			0.29
Loan and Deposit Rate Margin		(2)-(6)			10				0.99				1.22				1.06				(0.06	)			1.13
*1  Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG). *2  Deposits include Negotiable Certificates of Deposit (“NCDs”). *3  Figures are calculated based on the figures for former MHCB for the first quarter and MHBK for the second quarter.
(Reference) After excluding loans to Deposit Insurance Corporation of Japan and Japanese government
Return on Loans and Bills Discounted					11				1.15				1.46				1.24				(0.08	)			1.33
Loan and Deposit Rate Margin (including Expenses)		(11)-(5)			12				0.32				0.57				0.39				(0.02	)			0.42
Loan and Deposit Rate Margin		(11)-(6)			13				1.09				1.41				1.19				(0.07	)			1.26
																(%)
																First Half of Fiscal 2013								First Half of Fiscal 2012
Mizuho Trust & Banking (3 domestic accounts) *1																				Change
Return on Interest-Earning Assets					14												0.75				(0.15	)			0.91
Return on Loans and Bills Discounted					15												0.98				(0.19	)			1.17
Return on Securities					16												0.56				(0.18	)			0.75
Cost of Funding					17												0.16				(0.02	)			0.18
Cost of Deposits *2					18												0.09				(0.03	)			0.12
Net Interest Margin		(14)-(17)			19												0.59				(0.13	)			0.72
Loan and Deposit Rate Margin		(15)-(18)			20												0.89				(0.15	)			1.05

 

*1	3 domestic accounts = banking accounts (domestic operations) + trust accounts with contracts indemnifying the principal amounts (jointly-managed money trusts).

*2	Deposits include NCDs.

 

2-5

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Mizuho Financial Group, Inc.

 

3. Net Gains/Losses on Securities

Non-Consolidated

Aggregate Figures for the 2 Banks

 

		(Millions of yen)
		First Half of Fiscal 2013 *								First Half of Fiscal 2012
						Change
Net Gains (Losses) related to Bonds			38,582				(138,468	)			177,051
Gains on Sales and Others			89,418				(112,193	)			201,612
Losses on Sales and Others			(43,237	)			(28,564	)			(14,673	)
Impairment (Devaluation)			(7,975	)			(745	)			(7,229	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—
Gains (Losses) on Derivatives other than for Trading			376				3,035				(2,658	)
*        Figures are the aggregate figures for former MHBK for the first quarter, former MHCB for the first quarter, MHBK for the second quarter, and MHTB for the first half of fiscal 2013.
		First Half of Fiscal 2013 *								First Half of Fiscal 2012
						Change
Net Gains (Losses) related to Stocks			27,247				301,724				(274,477	)
Gains on Sales			29,404				15,873				13,530
Losses on Sales			(2,166	)			3,298				(5,465	)
Impairment (Devaluation)			(1,279	)			280,416				(281,696	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			16				43				(26	)
Gains (Losses) on Derivatives other than for Trading			1,272				2,092				(819	)
*        Figures are the aggregate figures for former MHBK for the first quarter, former MHCB for the first quarter, MHBK for the second quarter, and MHTB for the first half of fiscal 2013.

Mizuho Bank

 

		(Millions of yen)
		First Half of Fiscal 2013																First Half of Fiscal 2012
		MHBK (Apr. - Sep.) *				Former MHBK (Apr. - Jun.)				Aggregate Figures				Change
Net Gains (Losses) related to Bonds			21,182				13,709				34,891				(136,339	)			171,230
Gains on Sales and Others			58,647				25,080				83,727				(112,296	)			196,024
Losses on Sales and Others			(28,893	)			(12,158	)			(41,052	)			(26,653	)			(14,399	)
Impairment (Devaluation)			(7,559	)			(416	)			(7,975	)			(745	)			(7,229	)
Reversal of (Provision for) Reserve for Possible Losses on Investments			—				—				—				—				—
Gains (Losses) on Derivatives other than for Trading			(1,013	)			1,203				190				3,356				(3,165	)
*       Figures are the aggregate figures for former MHCB for the first quarter and MHBK for the second quarter.
		First Half of Fiscal 2013																First Half of Fiscal 2012
		MHBK (Apr. - Sep.) *				Former MHBK (Apr. - Jun.)				Aggregate Figures				Change
Net Gains (Losses) related to Stocks			14,429				5,864				20,294				278,361				(258,066	)
Gains on Sales			15,887				6,427				22,314				9,802