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Earnings Plan

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Earnings Plan for FY2017 and Cash Dividends (As of May 15, 2017)

  • Net Income Attributable to FG*2 is estimated to be JPY 550.0bn, a decrease from FY2016

Consolidated

(JPY bn)
  FY2017 Plan Changes from FY2016
Consolidated Net Business Profits*1 640.0 −23.4
Credit–related Costs −40.0 7.5
Net Gains (Losses) related to Stocks 215.0 −27.1
Ordinary Profits 790.0 52.4
Net Income Attributable to FG*2 550.0 −53.5
  • *1Consolidated Gross Profits – G&A Expenses (excluding Non–Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments
  • *2Profit Attributable to Owners of Parent

2 Banks

(JPY bn)
  FY2017 Plan Changes from FY2016
Net Business Profits 460.0 −34.3
Credit–related Costs −40.0 9.3
Net Gains (Losses) related to Stocks 165.0 −45.5
Ordinary Profits 545.0 22.1
Net Income 385.0 −3.0

Cash Dividend per Share of Common Stock

  • Annual Cash Dividend per Share of Common Stock for FY2017 is estimated to be JPY 7.5 (unchanged from FY2016)
  • Continue the "steady dividend payout" policy with a "dividend payout ratio on a consolidated basis of approx. 30%" as a guide for our consideration
  FY2017 Plan Changes from FY2016
Annual Cash Dividends (Estimate) JPY 7.5 unchanged

Transition of Cash Dividends

  FY2014 FY2015 FY2016 FY2017
(Estimate)
Annual Cash Dividends
(Dividend payout ratio)
JPY 7.5
(30.1%)
JPY 7.5
(27.8%)
JPY 7.5
(31.4%)
JPY 7.5
(34.6%)

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") and our report on Form 6–K furnished to the SEC on January 13, 2017, both of which are available in the Financial Information section of our web page at www.mizuho-fg.com/index.html and also at the SEC’s web site at www.sec.gov.

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

Definition

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 before the merger on Jul. 2013 and former MHCB)

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