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Financial Results for the Second Quarter (First Half) of FY2016 (Question & Answer)

Q1Please give an overview of Mizuho's financial results for the first half of fiscal 2016.
A1
  • Profit Attributable to Owners of Parent was JPY 358.1 billion, 59% progress against the earnings estimate of JPY 600.0 billion for fiscal 2016.
  • Consolidated Net Business Profits decreased by JPY 43.4 billion YoY to JPY 403.2 billion, mainly due to the Negative Interest Rate Policy and JPY appreciation.

For more details, please refer to Overview of Income Statement.

Q2Please explain the overview of Mizuho's balance sheet.
A2
  • As for the overview of the balance sheet, please refer to page 3 of <Summary of Financial Results for the First Half of Fiscal 2016>.

For more details, please refer to Overview of Balance Sheet.

Q3Please explain the overview of Mizuho's loans.
A3
  • Average domestic loan balance for the first half of fiscal 2016 of MHBK + MHTB, excluding loans to the Japanese Government, decreased by JPY 0.7 trillion from the first half of fiscal 2015, and JPY 1.5 trillion from the second half of fiscal 2015 to JPY 50.0 trillion.
  • Domestic Loan and Deposit Rate Margin of MHBK + MHTB decreased to 0.93% from the second half of fiscal 2015 due to the decrease in Returns on Loans and Bills Discounted.
  • Average overseas loan balance for the first quarter of fiscal 2016 of MHBK increased by USD 13.5 billion from the first half of fiscal 2015 and remained at the same level as the second half of fiscal 2015 to USD 203.2 billion.

For more details, please refer to Overview of Loans.

Q4Please explain the status of Mizuho's Non–interest Income.
A4
  • Non–interest Income from Customer Groups for the first half of fiscal 2016 of Group Aggregate was JPY 421.0 billion.

For more details, please refer to Non–interest Income.

Q5Please explain Mizuho's financial soundness.
A5
  • Balance of Disclosed Claims under the Financial Reconstruction Law of MHBK + MHTB decreased from March 2016 to JPY 0.78 trillion.
  • Non–Performing Loan ratio of MHBK + MHTB decreased from March 2016 to 0.98%.
  • Credit–related Costs (banking account + trust account) of MHBK + MHTB recorded a reversal of JPY 9.4 billion.
  • JGB balance of MHBK + MHTB decreased from March 2016 to JPY 10.3 trillion.
  • Consolidated Japanese Stock Portfolio decreased from March 2016 to JPY 1,798.9 billion.
  • Consolidated Unrealized Gains (Losses) on Other Securities as of September 2016 decreased to JPY 1,631.9 billion from March 2016.

For more details, please refer to Financial Soundness (1) and Financial Soundness (2).

Q6Please explain Mizuho's BIS Capital Ratio.
A6
  • Common Equity Tier 1 (CET1) capital was strengthened steadily.
    • CET1 capital ratio as of September 2016 was 10.98%.
    • CET1 capital ratio on a fully–effective basis* was 10.99%.
    • CET1 capital ratio on a fully–effective basis* (excluding Net Unrealized Gains on Other Securities) was 9.14%.
    • *Calculated by Mizuho based on fully–effective Basel Ⅲ Rule as of March 2019, deducting total amount of regulatory adjustments.
  • Leverage Ratio as of September 2016 was 4.05%.

For more details, please refer to BIS Capital Ratio.

Q7Please explain the Earnings Plan for Fiscal 2016.
A7
  • Estimated Profit Attributable to Owners of Parent for fiscal 2016 remains unchanged from the original earnings plan of JPY 600.0 billion.

For more details, please refer to Earnings Plan for FY2016.

Q8Please explain the Cash Dividend per Share for Common Stock for Fiscal 2016.
A8
  • Interim cash dividend payment is to be made as planned. (JPY 3.75 per share)
  • Estimated annual cash dividend payments remain unchanged. ((Estimate): JPY 7.50 per share)

For more details, please refer to Earnings Plan for FY2016.

Q9Please explain Mizuho Securities' financial results.
A9
  • Mizuho Securities' Profit Attributable to Owners of Parent for the second quarter of fiscal 2016 was JPY 121.8 billion, an increase from the first quarter of fiscal 2016.

For more details, please refer to (Reference) Mizuho Securities.

Q10Please explain the progress of the Medium–term Business Plan.
A10

(As of Nov 14, 2016)

Other Financial Information (Question & Answer)

Q1Where can I find Mizuho's quarterly results?
A1

Please see Financial Statements on this website for our quarterly results.

Q2Where can I find Mizuho's Integrated Report or annual reviews?
A2

Please see Integrated Report (Annual Review) on this website.

Q3What are the current credit ratings of primary companies of Mizuho?
A3

Please see Rating and Bond Information on this website for the current credit ratings of primary companies of Mizuho.

Disclaimer about Forward–looking Statements and Definitions

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

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

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

Further information regarding factors that could affect our financial condition and results of operations is included in "Item 3.D. Key Information—Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in our most recent Form 20–F filed with the U.S. Securities and Exchange Commission ("SEC"), which is available in the Financial Information section of our web page at www.mizuho-fg.com/ 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.

  • Definition
    • MHFG: Mizuho Financial Group, Inc. MHBK: Mizuho Bank, Ltd. MHTB: Mizuho Trust & Banking Co., Ltd. MHSC: Mizuho Securities Co., Ltd. former MHCB: Former Mizuho Corporate Bank former MHBK: Former Mizuho Bank before the merger on Jul. 2013
    • 2 Banks: Aggregate figures for MHBK and MHTB on a non–consolidated basis (Figures of MHBK up to 1Q FY2013 are simple aggregate figures of former MHBK and former MHCB)
    • Group aggregate: Aggregate figures for MHBK, MHTB, MHSC and other major subsidiaries on a non–consolidated basis
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