Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2010

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of 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  ¨    No  x

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

 

 

 

 

SIGNATURES

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

 

Date:   November 12, 2010
Mizuho Financial Group, Inc.
By:  

/s/ Takeo Nakano

Name:   Takeo Nakano
Title:   Managing Director / CFO

 

For Immediate Release:   November 12, 2010

 

  

Financial Statements for the Second Quarter of Fiscal 2010

(Six months ended September 30, 2010)

<Under Japanese GAAP>

    LOGO

 

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

Stock Code Number (Japan):

   8411

Stock Exchanges (Japan):

   Tokyo Stock Exchange (First Section), Osaka Securities Exchange (First Section)
URL:   http://www.mizuho-fg.co.jp/english/

Representative:

   Takashi Tsukamoto    President & CEO

For Inquiry:

   Tatsuya Yamada    Executive Officer, General Manager of Accounting

Phone:

   +81-3-5224-2030         

Filing of Shihanki Hokokusho (scheduled):

    November 26, 2010    Trading Accounts:    Established

Commencement of Dividend Payment (scheduled):

    —      

Supplementary Materials on Quarterly Results: Attached

      

IR Conference on Quarterly Results: Scheduled

      

Amounts less than one million yen are rounded down.

1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2010 (for the six months ended September 30, 2010)

(1) Consolidated Results of Operations

 

(%: Changes from the previous first half)  
     Ordinary Income     Ordinary Profits      Net Income  
     ¥ million      %     ¥ million      %      ¥ million      %  

1H F2010

      1,449,871         (2.3 )      423,829         308.3         341,759         289.2   

1H F2009

      1,485,032         (21.9 )      103,789         82.7         87,806         (7.1 ) 

 

     Net Income
per Share of
Common Stock		      Diluted Net Income
per Share of
Common Stock		  
     ¥      ¥  

1H F2010

      19.15         17.50   

1H F2009

      6.89         6.17   

(2) Consolidated Financial Conditions

 

     Total Assets      Total Net Assets      Own Capital Ratio      Total Net Assets
per Share of
Common Stock		      Consolidated Capital Adequacy
Ratio (BIS Standard)		  
     ¥ million      ¥ million      %      ¥      %  

1H F2010

      157,754,464         6,689,256         2.7         179.55         15.40   

Fiscal 2009

      156,253,572         5,837,053         2.2         191.53         13.46   

 

Reference:

  

Own Capital:

As of September 30, 2010: ¥4,389,156 million; As of March 31, 2010: ¥3,513,050 million

Notes:

  

1.

   Own Capital Ratio was calculated as follows: (Total Net Assets - Stock Acquisition Rights - Minority Interests) / Total Assets × 100
 

2.

   Consolidated Capital Adequacy Ratio (BIS Standard) is based on the “Standards for Bank Holding Company to Consider the Adequacy of Its Capital Based on Assets and Others Held by It and Its Subsidiaries Pursuant to Article 52-25 of the Banking Law” (Financial Services Agency Ordinance Announcement No. 20, March 27, 2006).
 

3.

   Consolidated Capital Adequacy Ratio (BIS) as of September 30, 2010 is a preliminary figure.

2. Cash Dividends for Shareholders of Common Stock

 

     Cash Dividends per Year  

(Record Date)

    First
Quarter-end		      Second
Quarter-end		      Third
Quarter-end		      Fiscal
Year-end		      Total  
     ¥      ¥      ¥      ¥      ¥  

Fiscal 2009

      —           0.00         —           8.00         8.00   

Fiscal 2010

      —           0.00            

Fiscal 2010 (estimate)

            —           6.00         6.00   

 

Notes:   1.   

Revision of estimates for cash dividends for shareholders of common stock during this quarter:

No

  2.    Please refer to the following “Cash Dividends for Shareholders of Classified Stock” for cash dividends for shareholders of classified stock (unlisted), the rights of which are different from those of common stock.

 

3. Consolidated Earnings Estimates for Fiscal 2010 (for the fiscal year ending March 31, 2011)

 

               (%: Changes from the previous fiscal year)  
               Net Income      Net Income
per Share of
Common Stock		  
               ¥ million                      %      ¥  

Fiscal 2010

            500,000         108.8         24.84   

 

Notes:   1.    Revision of the earnings estimates during this quarter: Yes
  2.    The average number of shares of outstanding common stock for fiscal 2010 used in calculating the above Net Income per Share of Common Stock is based on the following:

 

  •  

The average of “the average number of shares during the 1H Fiscal 2010” and “the number of shares as of September 30, 2010 (which is expected to be the average number of shares during the 2H of fiscal 2010)” is used.

 

  •  

It does not take into account any increase in the number of shares of common stock due to requests for acquisition (conversion) of the Eleventh Series Class XI Preferred Stock in the 2H of fiscal 2010.

 

 

4. Others (Please refer to “Other Information” on page 1-3 of [Attachment] for details.)

(1) Changes in Significant Subsidiaries during the Period: No

(Note) Above are the changes in specified subsidiaries accompanying changes in the scope of consolidation during the period.

(2) Changes in Accounting Methods and Presentation of Consolidated Financial Statements

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

‚Changes other than  above: No

 

  (Note)  Above are the changes of accounting methods and presentation of interim consolidated financial statements which are to be described in the changes of fundamental and important matters for the preparation of Interim Consolidated Financial Statements.

(3) Issued Shares of Common Stock

 

 Period-end issued shares (including treasury stock):    
 		 As of September 30, 2010:
As of March 31, 2010:		   
  		    

 

 21,539,573,760 shares;

15,494,397,690 shares

   

  

‚ Period-end treasury stock:    
 		 As of September 30, 2010:
As of March 31, 2010:		   
  		    

 

 5,644,103 shares;

9,397,093 shares

   

  

ƒ Average number of outstanding shares:    

 

 1st Half of Fiscal 2010:

1st Half of Fiscal 2009:

   

  

    

 

 17,846,169,840 shares;

12,743,594,595 shares

   

  

Non-consolidated Financial Statements

1. Financial Highlights for the Second Quarter (First Half) of Fiscal 2010 (for the six months ended September 30, 2010)

 

(1) Non-Consolidated Results of Operations            (%: Changes from the previous first half)  
     Operating Income     Operating Profits     Ordinary Profits     Net Income  
     ¥ million      %     ¥ million      %     ¥ million      %     ¥ million      %  

1H F2010

      32,606         66.3        22,991         130.6        16,770         450.1        16,585         436.1   

1H F2009

      19,607         (95.4 )      9,968         (97.6 )      3,048         (99.2 )      3,093         (99.3 ) 
     Net Income per
Share of Common Stock		                                                
     ¥                                                

1H F2010

      0.92                     

1H F2009

      0.24                     

(2) Non-Consolidated Financial Conditions

 

     Total Assets      Total Net Assets      Own Capital Ratio      Total Net Assets
per Share of
Common Stock		  
     ¥ million      ¥ million      %      ¥  

1H F2010

      5,979,975         4,645,179         77.6         191.35   

Fiscal 2009

      5,225,971         4,011,146         76.7         223.59   

 

Reference:

  

1.  Own Capital: As of September 30, 2010: ¥4,643,393 million; As of March 31, 2010: ¥4,009,502 million

 

2.  Maximum amount available for dividends as of September 30, 2010: ¥1,414,778 million; As of March 31, 2010:

     ¥1,549,745 million

 

(Note) “Maximum amount available for dividends” is calculated pursuant to Article 461, Paragraph 2 of the Company Law.

(Presentation of Implementation Status of Interim Review Procedure)

The semi-annual audit procedure of consolidated and non-consolidated interim financial statements based on the Financial Instruments and Exchange Law has not been completed at the time of the disclosure of these Financial Statements.

 

 

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

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

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

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key 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.

 

 

 

Cash Dividends for Shareholders of Classified Stock

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

 

     Cash Dividends per Share  

(Record Date)

    First Quarter-end      Second Quarter-end      Third Quarter-end      Fiscal Year-end             Total  
     ¥      ¥      ¥      ¥             ¥  

Eleventh Series Class XI Preferred Stock

                  

Fiscal 2009

      —           0.00         —           20.00            20.00   

Fiscal 2010

      —           0.00               

Fiscal 2010 (estimate)

            —           20.00            20.00   

Thirteenth Series Class XIII Preferred Stock

                  

Fiscal 2009

      —           0.00         —           30.00            30.00   

Fiscal 2010

      —           0.00               

Fiscal 2010 (estimate)

            —           30.00            30.00   

mContents of Attachment

 

1.   Qualitative Information related to Financial Results      p.1-2   
  (1) Qualitative Information related to Consolidated Results of Operations      p.1-2   
  (2) Qualitative Information related to Consolidated Financial Conditions      p.1-2   
  (3) Qualitative Information related to Consolidated Earnings Estimates      p.1-2   
2.   Other Information      p.1-3   
  (1) Changes in Significant Subsidiaries      p.1-3   
  (2) Changes in Accounting Methods and Presentation      p.1-3   
3.   Interim Consolidated Financial Statements      p.1-4   
  (1) Consolidated Balance Sheets      p.1-4   
  (2) Consolidated Statements of Income      p.1-6   
  (3) Consolidated Statements of Changes in Net Assets      p.1-7   
  (4) Note for Assumption of Going Concern      p.1-9   
4.   Interim Non-Consolidated Financial Statements      p.1-10   
  (1) Non-Consolidated Balance Sheets      p.1-10   
  (2) Non-Consolidated Statements of Income      p.1-11   
  (3) Non-Consolidated Statements of Changes in Net Assets      p.1-12   
  (4) Note for Assumption of Going Concern      p.1-13   

[Note to XBRL]

Please note that the names of the English accounts contained in XBRL data, which are available through EDINET and TDNet, may be different from those of the English accounts in our financial statements.

A MHFG IR conference for institutional investors and analysts is scheduled for November 24, 2010 (Wednesday). The IR conference presentation materials and audio archive will be available for use by individual investors in the IR Information section of the Mizuho Financial Group HP immediately after the conference.

 

1-1

 

1. QUALITATIVE INFORMATION RELATED TO FINANCIAL RESULTS

(Please refer to “Summary Results for the Second Quarter (First Half) of Fiscal 2010” on page 2-1 for more information.)

(1) Qualitative Information related to Consolidated Results of Operations

Reviewing the economic environment over the past six months ended September 30, 2010, there are indications of a slowing of the continuing gradual recovery in the global economy which has been led by newly developing countries, and there is a heightened risk of a slackening in the economy mainly in Europe and the United States as global fiscal tightening makes its impact.

In the United States, a sustained recovery is taking place on the basis of steady capital investment and positive trends in consumer spending, but business performance- and employment-related indices have been slow to improve and there is a risk of a stalling in economic growth. In Europe, economic growth is stagnant as consumer spending remains weak with long-term labor force adjustments and so on, added to which the difficulty in predicting the effect of the fiscal problems experienced by certain countries on the financial markets and the real economy and so on means that there exists a distinct lack of visibility regarding the future of the global economy. In Asia, the increase in demand in the Chinese market has a knock-on effect in inducing an increase in exports and production activity in neighboring economies, and while the pace of growth is slowing, the region is maintaining strong economic growth.

In Japan, although positive growth is being maintained as corporate profits improve among other factors, the mild deflationary situation is continuing and the sharp appreciation of the value of the yen against other currencies continues its course and so on, leading to a stalling in improvements in the economy. There are several causes for concern over the future direction of the economy in addition to how the various stimulus programs will lose their effectiveness going forward, there are also the risks of a slowing in economies abroad and a worsening in the employment situation, combining with the fluctuations in exchange rates to serve as a drag on economic growth.

In light of this economic environment, we will aim to further enhance our corporate value through the steady implementation of our Transformation Program, which consists of the program for improving profitability, the program for enhancing financial base and the program for strengthening front-line business capabilities.

Under the above economic environment, Net Income for the six months ended September 30, 2010 amounted to ¥341.7 billion, increasing by ¥253.9 billion from the corresponding period of the previous fiscal year.

(2) Qualitative Information related to Consolidated Financial Conditions

Consolidated total assets as of September 30, 2010 amounted to ¥157,754.4 billion, increasing by ¥1,500.8 billion from the end of the previous fiscal year.

Net Assets amounted to ¥6,689.2 billion, increasing by ¥852.2 billion from the end of the previous fiscal year. Shareholders’ Equity amounted to ¥4,176.4 billion, Valuation and Translation Adjustments amounted to ¥212.6 billion and Minority Interests amounted to ¥2,297.3 billion.

In Assets, the balance of Loans and Bills Discounted amounted to ¥62,069.8 billion, decreasing by ¥94.6 billion from the end of the previous fiscal year while Securities were ¥44,159.2 billion, increasing by ¥1,062.8 billion from the end of the previous fiscal year. In Liabilities, Deposits amounted to ¥75,612.0 billion, decreasing by ¥727.7 billion from the end of the previous fiscal year.

The Consolidated Capital Adequacy Ratio (Basel II BIS Standard) was 15.40% (preliminary).

 

     March 31, 2009   March 31, 2010   September 30, 2010

Basel II

    10.53%   13.46%   15.40%

(3) Qualitative Information related to Consolidated Earnings Estimates

Based on the financial results for the second quarter of fiscal 2010, MHFG estimates Ordinary Profits of ¥670.0 billion (an increase of ¥100.0 billion from the estimate which was announced on May 14, 2010) and Net Income of ¥500.0 billion (an increase of ¥70.0 billion from the same estimate above) for fiscal 2010.

The above estimates constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Please see the “forward-looking statements” legend for a description of the factors that could affect our ability to meet these estimates.

 

1-2

 

2. Other Information

(1) Changes in Significant Subsidiaries

(Changes in specified subsidiaries accompanying changes in scope of consolidation during the period.)

There is no applicable information.

(2) Changes in Accounting Methods and Presentation

[Changes in Accounting Methods]

(Accounting Standard for Financial Instruments)

Mizuho Financial Group has applied “Accounting Standard for Financial Instruments” (ASBJ Statement No.10, March 10, 2008) and “Guidance on Disclosures about Fair Value of Financial Instruments” (ASBJ Guidance No.19, March 10, 2008) from the end of the previous fiscal year.

As a result, Other Debt Purchased increased by ¥684 million, Securities increased by ¥26,317 million, Deferred Tax Assets decreased by ¥11,769 million, Reserves for Possible Losses on Loans decreased by ¥17,678 million, Net Unrealized Gains (Losses) on Other Securities, net of Taxes increased by ¥17,408 million, Minority Interests increased by ¥160 million, Income before Income Taxes and Minority Interests increased by ¥595 million, and Net Income increased by ¥596 million compared with the corresponding amounts under the previously applied method.

(Adoption of Accounting Standard for Equity Method of Accounting for Investments and Practical Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity Method)

Mizuho Financial Group has applied “Accounting Standard for Equity Method of Accounting for Investments” (ASBJ Statement No. 16, March 10, 2008) and “Practical Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity Method” (PITF No. 24, March 10, 2008) beginning with this interim period.

This application does not affect the financial statements.

(Adoption of Accounting Standard for Asset Retirement Obligations)

Mizuho Financial Group has applied “Accounting Standard for Asset Retirement Obligations” (ASBJ Statement No. 18, March 31, 2008) and “Guidance on Accounting Standard for Asset Retirement Obligations” (ASBJ Guidance No. 21, March 31, 2008) beginning with this interim period.

As a result, Income before Income Taxes and Minority Interests decreased by ¥3,445 million. The change in Asset Retirement Obligations (which is in “Other Liabilities”) due to commencement of application of the accounting standards is ¥6,257 million.

[Additional Information]

(Issuance of New Shares by the Spread Method)

The spread method is adopted for the issuance of new shares (5,609,000 thousand shares) with a payment date of July 21, 2010. This is a method where the new shares are underwritten and purchased by the initial purchasers at the amount to be paid to MHFG (¥125.27 per share), and sold by the underwriters to the investors at an issue price (¥130.00 per share) different from the amount to be paid to MHFG.

Using the spread method, the aggregate amount of the difference between (a) the issue price and (b) the amount to be paid to MHFG is retained by the initial purchasers, and allocated to each of the underwriters as underwriting fees. Accordingly, Other Ordinary Expenses does not include the amount equivalent to such underwriting fees of ¥26,530 million related to the issuance.

The amount equivalent to such underwriting fees of ¥9,734 million, recognized as profit by consolidated subsidiaries, is eliminated and recorded as an increase in Capital Surplus.

 

1-3

 

3. INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(1) CONSOLIDATED BALANCE SHEETS

 

     Millions of yen  
     As of
September 30,
2009		     As of
September 30,
2010		     As of
March 31, 2010
(Selected Items)		  

Assets

       

Cash and Due from Banks

    ¥ 4,921,251      ¥ 3,650,486      ¥ 5,211,477   

Call Loans and Bills Purchased

      119,821        290,921        605,238   

Receivables under Resale Agreements

      8,726,629        8,389,628        7,129,676   

Guarantee Deposits Paid under Securities Borrowing Transactions

      5,654,671        6,376,329        5,744,901   

Other Debt Purchased

      2,329,381        1,801,283        2,040,445   

Trading Assets

      15,565,593        15,463,760        13,986,791   

Money Held in Trust

      114,708        102,452        119,438   

Securities

      37,938,463        44,159,283        43,096,460   

Loans and Bills Discounted

      64,267,283        62,069,897        62,164,579   

Foreign Exchange Assets

      539,477        779,968        707,803   

Derivatives other than for Trading Assets

      7,329,310        7,123,116        7,060,302   

Other Assets

      3,670,516        3,104,688        3,742,205   

Tangible Fixed Assets

      914,016        942,494        927,337   

Intangible Fixed Assets

      398,120        424,974        427,278   

Deferred Tax Assets

      625,718        459,541        533,030   

Customers’ Liabilities for Acceptances and Guarantees

      3,689,546        3,459,319        3,643,706   

Reserves for Possible Losses on Loans

      (942,063 )      (843,664 )      (887,073 ) 

Reserve for Possible Losses on Investments

      (4,576 )      (17 )      (29 ) 
                        

Total Assets

    ¥ 155,857,870      ¥ 157,754,464      ¥ 156,253,572   
                        

 

1-4

     Millions of yen  
     As of
September 30,
2009		     As of
September 30,
2010		     As of
March 31,
2010
(Selected Items)		  

Liabilities

       

Deposits

    ¥ 74,877,022      ¥ 75,612,075      ¥ 76,339,779   

Negotiable Certificates of Deposit

      9,073,581        10,531,592        10,287,808   

Debentures

      1,917,442        1,127,527        1,517,797   

Call Money and Bills Sold

      6,316,744        5,493,654        5,786,370   

Payables under Repurchase Agreements

      14,007,069        12,443,878        12,075,802   

Guarantee Deposits Received under Securities Lending Transactions

      5,773,990        6,319,242        6,615,512   

Trading Liabilities

      8,845,953        8,631,124        7,579,695   

Borrowed Money

      9,366,974        9,941,009        9,663,867   

Foreign Exchange Liabilities

      200,046        205,619        172,990   

Short-term Bonds

      494,095        524,597        492,397   

Bonds and Notes

      4,721,679        5,001,381        4,970,257   

Due to Trust Accounts

      1,045,344        1,032,497        1,025,431   

Derivatives other than for Trading Liabilities

      6,475,620        6,231,233        6,614,116   

Other Liabilities

      3,188,466        4,282,603        3,376,769   

Reserve for Bonus Payments

      39,784        34,143        48,946   

Reserve for Employee Retirement Benefits

      33,333        35,733        34,263   

Reserve for Director and Corporate Auditor Retirement Benefits

      1,841        2,049        2,112   

Reserve for Possible Losses on Sales of Loans

      27,666        2,815        15,258   

Reserve for Contingencies

      15,112        14,120        14,809   

Reserve for Reimbursement of Deposits

      14,371        14,912        14,748   

Reserve for Reimbursement of Debentures

      9,760        11,615        10,824   

Reserves under Special Laws

      2,187        1,376        2,149   

Deferred Tax Liabilities

      10,585        12,497        12,226   

Deferred Tax Liabilities for Revaluation Reserve for Land

      103,681        98,583        98,875   

Acceptances and Guarantees

      3,689,546        3,459,319        3,643,706   
                        

Total Liabilities

    ¥ 150,251,905      ¥ 151,065,208      ¥ 150,416,519   
                        

Net Assets

       

Common Stock and Preferred Stock

    ¥ 1,805,565      ¥ 2,181,375      ¥ 1,805,565   

Capital Surplus

      552,135        937,680        552,135   

Retained Earnings

      696,088        1,060,637        854,703   

Treasury Stock

      (5,183 )      (3,195 )      (5,184 ) 
                        

Total Shareholders’ Equity

      3,048,605        4,176,496        3,207,219   
                        

Net Unrealized Gains on Other Securities, net of Taxes

      116,406        32,505        176,931   

Net Deferred Hedge Gains, net of Taxes

      69,733        142,572        83,093   

Revaluation Reserve for Land, net of Taxes

      145,447        137,952        138,430   

Foreign Currency Translation Adjustments

      (93,230 )      (100,371 )      (92,623 ) 
                        

Total Valuation and Translation Adjustments

      238,357        212,659        305,831   
                        

Stock Acquisition Rights

      2,307        2,778        2,301   

Minority Interests

      2,316,695        2,297,321        2,321,700   
                        

Total Net Assets

      5,605,965        6,689,256        5,837,053   
                        

Total Liabilities and Net Assets

    ¥ 155,857,870      ¥ 157,754,464      ¥ 156,253,572   
                        

 

1-5

 

(2) CONSOLIDATED STATEMENTS OF INCOME

 

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		      For the fiscal
year ended
March 31, 2010
(Selected Items)		  

Ordinary Income

    ¥ 1,485,032      ¥ 1,449,871       ¥ 2,817,625   

Interest Income

      816,397        733,453         1,571,994   

Interest on Loans and Bills Discounted

      553,527        454,147         1,047,718   

Interest and Dividends on Securities

      171,872        179,472         350,536   

Fiduciary Income

      24,150        24,058         49,100   

Fee and Commission Income

      269,596        271,146         557,312   

Trading Income

      197,911        177,612         312,330   

Other Operating Income

      73,294        185,542         179,021   

Other Ordinary Income

      103,681        58,058         147,866   
                         

Ordinary Expenses

      1,381,242        1,026,042         2,490,498   

Interest Expenses

      235,319        179,908         420,287   

Interest on Deposits

      93,535        58,381         164,334   

Interest on Debentures

      6,714        3,986         11,959   

Fee and Commission Expenses

      47,571        51,976         91,271   

Other Operating Expenses

      93,261        59,031         161,584   

General and Administrative Expenses

      657,751        639,393         1,317,247   

Other Ordinary Expenses

      347,338        95,731         500,107   
                         

Ordinary Profits

      103,789        423,829         327,127   
                         

Extraordinary Gains

      98,649        34,961         118,259   

Extraordinary Losses

      58,255        7,713         67,621   
                         

Income before Income Taxes and Minority Interests

      144,183        451,076         377,765   
                         

Income Taxes:

        

Current

      15,542        11,236         25,253   

Refund of Income Taxes

      (3,897 )         (7,212 ) 

Deferred

      (10,773 )      47,250         25,108   

Total Income Taxes

      871        58,486         43,148   

Net Income before Minority Interests

      143,312        392,590         334,617   

Minority Interests in Net Income

      55,505        50,831         95,212   
                         

Net Income

    ¥ 87,806      ¥ 341,759       ¥ 239,404   
                         

 

1-6

 

(3) CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

 

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010		  

Shareholders’ Equity

       

Common Stock and Preferred Stock

       

Balance as of the end of the previous period

    ¥ 1,540,965      ¥ 1,805,565      ¥ 1,540,965   

Changes during the period

       

Issuance of New Shares

      264,600        375,810        264,600   
                        

Total Changes during the period

      264,600        375,810        264,600   
                        

Balance as of the end of the period

      1,805,565        2,181,375        1,805,565   
                        

Capital Surplus

       

Balance as of the end of the previous period

      411,318        552,135        411,318   

Changes during the period

       

Issuance of New Shares

      271,729        385,544        271,729   

Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary

      (130,913 )      —          (130,913 ) 
                        

Total Changes during the period

      140,816        385,544        140,816   
                        

Balance as of the end of the period

      552,135        937,680        552,135   
                        

Retained Earnings

       

Balance as of the end of the previous period

      608,053        854,703        608,053   

Changes during the period

       

Cash Dividends

      (131,015 )      (134,966 )      (131,015 ) 

Net Income

      87,806        341,759        239,404   

Disposition of Treasury Stock

      (661 )      (1,314 )      (662 ) 

Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary

      130,913        —          130,913   

Transfer from Revaluation Reserve for Land, net of Taxes

      992        455        8,010   
                        

Total Changes during the period

      88,035        205,934        246,649   
                        

Balance as of the end of the period

      696,088        1,060,637        854,703   
                        

Treasury Stock

       

Balance as of the end of the previous period

      (6,218 )      (5,184 )      (6,218 ) 

Changes during the period

       

Repurchase of Treasury Stock

      (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

      1,037        1,989        1,038   
                        

Total Changes during the period

      1,034        1,988        1,033   
                        

Balance as of the end of the period

    ¥ (5,183 )    ¥ (3,195 )    ¥ (5,184 ) 
                        

 

1-7

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010		  

Total Shareholders’ Equity

       

Balance as of the end of the previous period

    ¥ 2,554,119      ¥ 3,207,219      ¥ 2,554,119   

Changes during the period

       

Issuance of New Shares

      536,329        761,354        536,329   

Cash Dividends

      (131,015 )      (134,966 )      (131,015 ) 

Net Income

      87,806        341,759        239,404   

Repurchase of Treasury Stock

      (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

      376        675        376   

Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary

      —          —          —     

Transfer from Revaluation Reserve for Land, net of Taxes

      992        455        8,010   
                        

Total Changes during the period

      494,486        969,277        653,100   
                        

Balance as of the end of the period

      3,048,605        4,176,496        3,207,219   
                        

Valuation and Translation Adjustments

       

Net Unrealized Gains on Other Securities, net of Taxes

       

Balance as of the end of the previous period

      (519,574 )      176,931        (519,574 ) 

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      635,980        (144,425 )      696,505   
                        

Total Changes during the period

      635,980        (144,425 )      696,505   
                        

Balance as of the end of the period

      116,406        32,505        176,931   
                        

Net Deferred Hedge Gains, net of Taxes

       

Balance as of the end of the previous period

      67,525        83,093        67,525   

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      2,208        59,478        15,568   
                        

Total Changes during the period

      2,208        59,478        15,568   
                        

Balance as of the end of the period

      69,733        142,572        83,093   
                        

Revaluation Reserve for Land, net of Taxes

       

Balance as of the end of the previous period

      146,447        138,430        146,447   

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      (999 )      (477 )      (8,017 ) 
                        

Total Changes during the period

      (999 )      (477 )      (8,017 ) 
                        

Balance as of the end of the period

    ¥ 145,447      ¥ 137,952      ¥ 138,430   
                        

 

1-8

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010		  

Foreign Currency Translation Adjustments

       

Balance as of the end of the previous period

    ¥ (114,765 )    ¥ (92,623 )    ¥ (114,765 ) 

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      21,535        (7,748 )      22,141   
                        

Total Changes during the period

      21,535        (7,748 )      22,141   
                        

Balance as of the end of the period

      (93,230 )      (100,371 )      (92,623 ) 
                        

Total Valuation and Translation Adjustments

       

Balance as of the end of the previous period

      (420,367 )      305,831        (420,367 ) 

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      658,725        (93,171 )      726,199   
                        

Total Changes during the period

      658,725        (93,171 )      726,199   
                        

Balance as of the end of the period

      238,357        212,659        305,831   
                        

Stock Acquisition Rights

       

Balance as of the end of the previous period

      1,187        2,301        1,187   

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      1,119        476        1,113   
                        

Total Changes during the period

      1,119        476        1,113   
                        

Balance as of the end of the period

      2,307        2,778        2,301   
                        

Minority Interests

       

Balance as of the end of the previous period

      2,051,667        2,321,700        2,051,667   

Changes during the period

       

Net Changes in Items other than Shareholders’ Equity

      265,027        (24,379 )      270,033   
                        

Total Changes during the period

      265,027        (24,379 )      270,033   
                        

Balance as of the end of the period

      2,316,695        2,297,321        2,321,700   
                        

Total Net Assets

       

Balance as of the end of the previous period

      4,186,606        5,837,053        4,186,606   

Changes during the period

       

Issuance of New Shares

      536,329        761,354        536,329   

Cash Dividends

      (131,015 )      (134,966 )      (131,015 ) 

Net Income

      87,806        341,759        239,404   

Repurchase of Treasury Stock

      (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

      376        675        376   

Transfer from Capital Surplus to Retained Earnings Caused by Coping with a Loss of a Subsidiary

      —          —          —     

Transfer from Revaluation Reserve for Land, net of Taxes

      992        455        8,010   

Net Changes in Items other than Shareholders’ Equity

      924,872        (117,074 )      997,346   
                        

Total Changes during the period

      1,419,358        852,203        1,650,446   
                        

Balance as of the end of the period

    ¥ 5,605,965      ¥ 6,689,256      ¥ 5,837,053   
                        

(4) NOTE FOR ASSUMPTION OF GOING CONCERN

There is no applicable information.

 

1-9

 

4. INTERIM NON-CONSOLIDATED FINANCIAL STATEMENTS

(1) NON-CONSOLIDATED BALANCE SHEETS

 

     Millions of yen  
     As of
September 30,
2009		     As of
September 30,
2010		     As of
March 31,
2010
(Selected Items)		  

Assets

       

Current Assets

       

Cash and Due from Banks

    ¥ 12,322      ¥ 10,395      ¥ 15,133   

Securities

      —          751,620        —     

Accounts Receivable

      808        3,488        858   

Other Current Assets

      3,397        9,069        4,735   

Total Current Assets

      16,528        774,573        20,727   

Fixed Assets

       

Tangible Fixed Assets

      1,276        1,546        1,205   

Intangible Fixed Assets

      3,708        3,261        3,679   

Investments

      5,208,975        5,200,595        5,200,357   

Investments in Subsidiaries and Affiliates

      5,233,951        5,187,202        5,187,202   

Other Investments

      7,880        13,392        13,155   

Reserve for Possible Losses on Investments

      (32,856 )      —          —     

Total Fixed Assets

      5,213,961        5,205,402        5,205,243   
                        

Total Assets

    ¥ 5,230,489      ¥ 5,979,975      ¥ 5,225,971   
                        

Liabilities

       

Current Liabilities

       

Short-term Borrowings

    ¥ 700,000      ¥ 700,000      ¥ 700,000   

Short-term Bonds

      270,000        380,000        260,000   

Accrued Corporate Taxes

      65        65        93   

Reserve for Bonus Payments

      260        260        259   

Other Current Liabilities

      5,197        5,659        6,209   

Total Current Liabilities

      975,523        1,085,985        966,562   

Non-Current Liabilities

       

Bonds and Notes

      240,000        240,000        240,000   

Reserve for Employee Retirement Benefits

      1,360        1,622        1,470   

Asset Retirement Obligations

      —          639        —     

Other Non-Current Liabilities

      2,751        6,549        6,792   

Total Non-Current Liabilities

      244,111        248,810        248,262   
                        

Total Liabilities

      1,219,635        1,334,796        1,214,824   
                        

Net Assets

       

Shareholders’ Equity

       

Common Stock and Preferred Stock

      1,805,565        2,181,375        1,805,565   

Capital Surplus

       

Capital Reserve

      649,841        1,025,651        649,841   

Total Capital Surplus

      649,841        1,025,651        649,841   

Retained Earnings

       

Appropriated Reserve

      4,350        4,350        4,350   

Other Retained Earnings

      1,554,688        1,435,279        1,554,974   

Retained Earnings Brought Forward

      1,554,688        1,435,279        1,554,974   

Total Retained Earnings

      1,559,038        1,439,629        1,559,324   

Treasury Stock

      (5,183 )      (3,195 )      (5,184 ) 
                        

Total Shareholders’ Equity

     4,009,261        4,643,460        4,009,546   
                        

Valuation and Translation Adjustments

       

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      (51 )      (66 )      (44 ) 
                        

Total Valuation and Translation Adjustments

     (51 )      (66 )      (44 ) 
                        

Stock Acquisition Rights

     1,643        1,786        1,643   
                        

Total Net Assets

      4,010,853        4,645,179        4,011,146   
                        

Total Liabilities and Net Assets

   ¥ 5,230,489      ¥ 5,979,975      ¥ 5,225,971   
                        

 

1-10

 

(2) NON-CONSOLIDATED STATEMENTS OF INCOME

 

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010
(Selected Items)		  

Operating Income

    ¥ 19,607      ¥ 32,606      ¥ 33,792   

Operating Expenses

       

General and Administrative Expenses

      9,638        9,615        19,807   

Total Operating Expenses

      9,638        9,615        19,807   
                        

Operating Profits

      9,968        22,991        13,984   
                        

Non-Operating Income

      2,700        5,622        5,753   

Non-Operating Expenses

      9,620        11,843        18,650   
                        

Ordinary Profits

      3,048        16,770        1,086   
                        

Extraordinary Gains

      —          —          2,227   

Extraordinary Losses

      3        202        17   
                        

Income before Income Taxes

      3,044        16,567        3,296   
                        

Income Taxes:

       

Current

      2        2        4   

Deferred

      (50 )      (20 )      (88 ) 
                        

Total Income Taxes

      (48 )      (17 )      (83 ) 
                        

Net Income

    ¥ 3,093      ¥ 16,585      ¥ 3,379   
                        

 

1-11

 

(3) NON-CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

 

     Millions of yen  
     For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010		  

Shareholders’ Equity

       

Common Stock and Preferred Stock

       

Balance as of the end of the previous period

    ¥ 1,540,965      ¥ 1,805,565      ¥ 1,540,965   

Changes during the period

       

Issuance of New Shares

      264,600        375,810        264,600   
                        

Total Changes during the period

      264,600        375,810        264,600   
                        

Balance as of the end of the period

      1,805,565        2,181,375        1,805,565   
                        

Capital Surplus

       

Capital Reserve

       

Balance as of the end of the previous period

      385,241        649,841        385,241   

Changes during the period

       

Issuance of New Shares

      264,600        375,810        264,600   
                        

Total Changes during the period

      264,600        375,810        264,600   
                        

Balance as of the end of the period

      649,841        1,025,651        649,841   
                        

Total Capital Surplus

       

Balance as of the end of the previous period

      385,241        649,841        385,241   

Changes during the period

       

Issuance of New Shares

      264,600        375,810        264,600   
                        

Total Changes during the period

      264,600        375,810        264,600   
                        

Balance as of the end of the period

      649,841        1,025,651        649,841   
                        

Retained Earnings

       

Appropriated Reserve

       

Balance as of the end of the previous period

      4,350        4,350        4,350   

Changes during the period

       

Total Changes during the period

      —          —          —     
                        

Balance as of the end of the period

      4,350        4,350        4,350   
                        

Other Retained Earnings

       

Retained Earnings Brought Forward

       

Balance as of the end of the previous period

      1,683,272        1,554,974        1,683,272   

Changes during the period

       

Cash Dividends

      (131,015 )      (134,966 )      (131,015 ) 

Net Income

      3,093        16,585        3,379   

Disposition of Treasury Stock

      (661 )      (1,314 )      (662 ) 
                        

Total Changes during the period

      (128,583 )      (119,695 )      (128,297 ) 
                        

Balance as of the end of the period

      1,554,688        1,435,279        1,554,974   
                        

Total Retained Earnings

       

Balance as of the end of the previous period

      1,687,622        1,559,324        1,687,622   

Changes during the period

       

Cash Dividends

      (131,015 )      (134,966 )      (131,015 ) 

Net Income

      3,093        16,585        3,379   

Disposition of Treasury Stock

      (661 )      (1,314 )      (662 ) 
                        

Total Changes during the period

      (128,583 )      (119,695 )      (128,297 ) 
                        

Balance as of the end of the period

    ¥ 1,559,038      ¥ 1,439,629      ¥ 1,559,324   
                        

 

1-12

 

 

    Millions of yen  
    For the six
months ended
September 30, 2009		     For the six
months ended
September 30, 2010		     For the fiscal
year ended
March 31, 2010		  

Treasury Stock

      

Balance as of the end of the previous period

   ¥ (6,218 )    ¥ (5,184 )    ¥ (6,218 ) 

Changes during the period

      

Repurchase of Treasury Stock

     (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

     1,037        1,989        1,038   
                       

Total Changes during the period

     1,034        1,988        1,033   
                       

Balance as of the end of the period

     (5,183 )      (3,195 )      (5,184 ) 
                       

Total Shareholders’ Equity

      

Balance as of the end of the previous period

     3,607,610        4,009,546        3,607,610   

Changes during the period

      

Issuance of New Shares

     529,200        751,620        529,200   

Cash Dividends

     (131,015 )      (134,966 )      (131,015 ) 

Net Income

     3,093        16,585        3,379   

Repurchase of Treasury Stock

     (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

     376        675        376   
                       

Total Changes during the period

     401,650        633,913        401,936   
                       

Balance as of the end of the period

     4,009,261        4,643,460        4,009,546   
                       

Valuation and Translation Adjustments

      

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      

Balance as of the end of the previous period

     (32 )      (44 )      (32 ) 

Changes during the period

      

Net Changes in Items other than Shareholders’ Equity

     (19 )      (22 )      (12 ) 
                       

Total Changes during the period

     (19 )      (22 )      (12 ) 
                       

Balance as of the end of the period

     (51 )      (66 )      (44 ) 
                       

Stock Acquisition Rights

      

Balance as of the end of the previous period

     1,032        1,643        1,032   

Changes during the period

      

Net Changes in Items other than Shareholders’ Equity

     611        142        611   
                       

Total Changes during the period

     611        142        611   
                       

Balance as of the end of the period

     1,643        1,786        1,643   
                       

Total Net Assets

      

Balance as of the end of the previous period

     3,608,611        4,011,146        3,608,611   

Changes during the period

      

Issuance of New Shares

     529,200        751,620        529,200   

Cash Dividends

     (131,015 )      (134,966 )      (131,015 ) 

Net Income

     3,093        16,585        3,379   

Repurchase of Treasury Stock

     (3 )      (1 )      (4 ) 

Disposition of Treasury Stock

     376        675        376   

Net Changes in Items other than Shareholders’ Equity

     591        120        598   
                       

Total Changes during the period

     402,242        634,033        402,534   
                       

Balance as of the end of the period

   ¥ 4,010,853      ¥ 4,645,179      ¥ 4,011,146   
                       

(4) NOTE FOR ASSUMPTION OF GOING CONCERN

There is no applicable information.

 

1-13

 

Summary Results for the Second Quarter (First Half) of Fiscal 2010

I. Summary of Income Analysis

 

Ø  

Consolidated Net Business Profits

 

  •  

Consolidated Gross Profits for the first half of fiscal 2010 increased by JPY 95.6 billion on a year-on-year basis to JPY 1,100.8 billion.

Gross Profits of the banking subsidiaries increased by JPY 94.8 billion on a year-on-year basis (increased by JPY 139.8 billion after the adjustment of the impact for fiscal 2009 of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs). This is due to an increase in income from the Trading segment derived from flexible and timely operations properly interpreting market trends, in addition to a year-on-year increase in income from Customer Groups (JPY 22.0 billion), both domestically and overseas, arising mainly from non-interest income.

G&A expenses decreased by JPY 11.9 billion on a year-on-year basis mainly due to our overall cost reduction efforts.

 

  •  

Aggregated consolidated Gross Profits (Net Operating Revenues) of our two securities subsidiaries (Mizuho Securities and Mizuho Investors Securities) decreased by JPY 19.3 billion on a year-on-year basis.

 

  •  

As a result, Consolidated Net Business Profits amounted to JPY 464.9 billion, a year-on-year increase of JPY 105.4 billion.

 

Ø  

Consolidated Net Income

 

  •  

Credit-related Costs of the 3 Banks amounted to a reversal of JPY 25.2 billion, an improvement of JPY142.2 billion on a year-on-year basis, primarily due to improved obligor classifications through our business revitalization support to corporate customers and other factors. Consolidated Credit-related Costs also amounted to a reversal of JPY 8.5 billion, an improvement of JPY 170.3 billion on a year-on-year basis.

 

  •  

Net Losses related to Stocks of the 3 Banks amounted to JPY 15.0 billion. This is mainly as a consequence of recording devaluation losses for certain stocks after a decline in stock prices, despite recording Gains on Sales through our efforts to reduce our stock portfolio.

 

  •  

As a result, Consolidated Net Income for the first half of fiscal 2010 increased by JPY 253.9 billion on a year-on-year basis to JPY 341.7 billion, which far exceeds our planned net income amount for the first half of fiscal 2010 (JPY 180 billion).

(Consolidated)

 

      1H of FY2010
(Apr. 1 - Sep. 30, 2010)		  
            Change from
1H of FY2009		  
(JPY Bn)              

Consolidated Gross Profits

      1,100.8         95.6   

Consolidated Net Business Profits *

      464.9         105.4   

Credit-related Costs

      8.5         170.3   

Net Gains (Losses) related to Stocks

      -10.5         -30.7   

Ordinary Profits

      423.8         320.0   

Net Income

      341.7         253.9   

 

  * Consolidated Gross Profits - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

(Reference) 3 Banks

 

      1H of FY2010
(Apr. 1 - Sep. 30, 2010)		  
            Change from
1H of FY2009		  
(JPY Bn)              

Gross Profits

      885.4         94.8 * 

G&A Expenses (excluding Non-Recurring Losses)

      -440.3         11.9   

Net Business Profits

      445.1         106.7 * 

Credit-related Costs

      25.2         142.2   

Net Gains (Losses) related to Stocks

      -15.0         -39.1   

Ordinary Profits

      355.2         260.7   

Net Income

      355.0         226.8   

 

  * The results of “1H of FY2009” included the impact on banking subsidiaries (JPY 45.0 billion, eliminated on a consolidated basis) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs. After adjustment for this impact, the change from 1H of FY2009 for Gross Profits is JPY 139.8 billion, and that for Net Business Profits is JPY 151.8 billion, respectively

 

2-1

 

Ø  

Net Interest Income

 

  •  

The average loan balance for the first half of fiscal 2010 decreased by JPY 1.9 trillion from the second half of fiscal 2009. This is due to a decrease in domestic loans mainly to large corporate customers and overseas loans (including foreign exchange translation impact).

 

  •  

The domestic loan-and-deposit rate margin for the same period was 1.36% and slightly decreased by 0.03% from the second half of fiscal 2009, mainly due to a decline in the return on loans that followed the decline of market rates.

LOGO

 

Ø  

Non-Interest Income

 

  •  

Non-interest income from Customer Groups of the 3 Banks (managerial accounting basis) for the first half of fiscal 2010 increased by JPY 30.8 billion on a year-on-year basis.

 

  •  

As well as income associated with investment trusts and individual annuities from individual customers substantially increasing on a year-on-year basis, income associated with foreign exchange business, overseas business, trust and asset management business of Mizuho Trust & Banking and other factors also increased.

LOGO

 

2-2

 

II. Financial Soundness

 

  •  

The balance of Disclosed Claims under the Financial Reconstruction Law (3 Banks) decreased from that as of March 31, 2010. NPL Ratio also remained at a low level of 1.90%.

 

  •  

The balance of Consolidated Net Deferred Tax Assets decreased by JPY 73.7 billion from that as of March 31, 2010, and the ratio to Tier 1 Capital was 7.1%, a decline of 2.9% from March 31, 2010.

 

  •  

Our Consolidated Capital Adequacy Ratio was 15.40%, an improvement of 1.94% from that as of March 31, 2010.

 

     September 30, 2010  
           Change from
Mar. 31, 2010		  
(JPY Bn, %)             

Consolidated Capital Adequacy Ratio

      15.40 %      1.94 % 

(Total Risk-based Capital)

      (8,180.7 )      (522.6 ) 

Tier 1 Capital Ratio

      11.78 %      2.69 % 

(Tier 1 Capital)

      (6,260.1 )      (1,086.6 ) 

Net Deferred Tax Assets (DTAs) (Consolidated)

      447.0        -73.7   

Net DTAs / Tier 1 Ratio

      7.1 %      -2.9 % 

Disclosed Claims under the Financial Reconstruction Law (3 Banks)

      1,302.0        -17.8   

NPL Ratio

      1.90 %      -0.00 % 

(Net NPL Ratio *1)

      (0.85 %)      (0.06 %) 

Unrealized Gains (Losses) on Other Securities (Consolidated) *2

      102.4        -165.2   

 

*1 (Disclosed Claims under the Financial Reconstruction Law - Reserves for Possible Losses on Loans)/(Total Claims - Reserves for Possible Losses on Loans) x 100

 

*2 The base amount to be recorded directly to Net Assets after tax and other necessary adjustments

III. Disciplined Capital Management

 

  •  

In July 2010, we issued common stock (the number of shares issued: 6 billion shares, total amount paid: JPY 751.6 billion). This was aimed at establishing capital base as a cornerstone for our sustainable growth for the future, in anticipation of the revision of capital regulations. Meanwhile, we recorded Consolidated Net Income of JPY 341.7 billion for the first half of fiscal 2010.

 

  •  

It has become increasingly important for financial institutions to strengthen capital base amid the ongoing global discussions on the revision of capital regulations. Therefore, as our medium-term target, we aim to increase our consolidated Tier 1 capital ratio to 12% level and our prime capital(*1) ratio to 8% or above, and as of September 30, 2010, our consolidated Tier 1 capital ratio and our prime capital ratio were 11.78% and 8.10%, respectively, as a result of the common stock issuance and the enhanced Consolidated Net Income in the first half of fiscal 2010.

 

  •  

We announced Mizuho’s Transformation Program in May 2010, and are addressing the issues for improving profitability and enhancing financial base. We will strive to further strengthen our financial base mainly by accumulating retained earnings and improving asset efficiency through the steady implementation of the Program. Accordingly, we believe we will be able to sufficiently meet new capital regulations.

Our preliminary simulation indicates that a common equity capital ratio(*2) of mid-8% is assumed as of the end of fiscal 2012, when the new capital regulation will be implemented.

 

  •  

We continue to pursue “disciplined capital management” policy, optimally balancing “strengthening of stable capital base” and “steady returns to shareholders” in accordance with changes in the business environment, our financial condition or other factors.

 

(*1) Prime Capital = Tier 1 capital - preferred debt securities - preferred stock (excluding mandatory convertible preferred stock)

 

(*2) Common equity capital ratio: calculated based on the inclusion of the Eleventh Series Class XI Preferred Stock(*3) that will be mandatorily converted in July 2016.

At this moment, details - such as the calculation method for the capital adequacy ratio in the new capital regulation - have yet to be determined. Therefore, the estimates above are estimated by Mizuho Financial Group based on the publicly-available materials issued so far.

 

(*3) The outstanding balance of Eleventh Series Class XI Preferred Stock as of September 30, 2010 (excluding treasury stock) was JPY 486.0 billion (48.5% out of JPY 943.7 billion of the initial amount issued had been already converted into common stock).

 

2-3

 

Earnings Plan for Fiscal 2010

(Figures below are on a consolidated basis)

 

Ø  

We plan Consolidated Net Business Profits for fiscal 2010 to be JPY 820.0 billion, an increase of JPY 70.0 billion compared with the original plan(*) based on the results for the first half of fiscal 2010 (an increase of JPY 117.3 billion compared with the previous fiscal year).

We endeavor to further strengthen profitability primarily in non-interest income from Customer Groups of the banking subsidiaries mainly by enhancing further the group synergies.

(*) compared with the original plan announced on May 14, 2010

 

Ø  

We anticipate Credit-related Costs to be JPY -85.0 billion, mainly by continued thorough credit management from the first half of fiscal 2010.

 

Ø  

Based on the above, we plan Consolidated Net Income to be JPY 500.0 billion, an increase of JPY 70.0 billion compared with the original plan.

 

Ø  

It has become increasingly important for financial institutions to strengthen capital base, and we plan to make cash dividend payments of JPY 6 per share of common stock for the fiscal year ending March 31, 2011, unchanged from our existing estimate, in consideration of the balance between “strengthening of stable capital base” and “steady returns to shareholders”. We plan to make dividend payments on preferred stock as prescribed.

(Consolidated)

 

     FY2010 (Plan)  
            Change from
FY2009		  
(JPY Bn)              

Consolidated Net Business Profits*

      820.0         117.3   

Credit-related Costs

      -85.0         134.3   

Net Gains (Losses) related to Stocks

      -15.0         -19.2   

Ordinary Profits

      670.0         342.8   

Net Income

      500.0         260.5   

 

* Consolidated Gross Profits - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

(Reference) 3 Banks

 

     FY2010 (Plan)  
             Change from
FY2009		  
(JPY Bn)              

Net Business Profits*

      770.0         84.0   

Credit-related Costs

      -49.0         108.1   

Net Gains (Losses) related to Stocks

      -15.0         -25.9   

Ordinary Profits

      555.0         249.3   

Net Income

      506.0         192.8   

 

* The figure of FY2009 included the impact on banking subsidiaries (JPY 77.5 billion) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred securities by SPCs

 

 

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

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

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

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

 

 

 

2-4

 

[Reference]

Breakdown of Earnings by Business Segment

 

[3 Banks]    1H of FY2010
(Apr. 1 - Sep. 30, 2010)		         
            Change from
1H of FY2009		         
(JPY Bn)                     

Gross Profits

      611.0         22.0      

G&A Expenses

      -355.6         4.4      

Customer Groups

      255.3         26.4      

Gross Profits

      274.4         72.8         (117.9 ) 

G&A Expenses

      -84.6         7.5      

Trading & Others

      189.7         80.2         (125.3 ) 

Gross Profits

      885.4         94.8         (139.8 ) 

G&A Expenses

      -440.3         11.9      

Net Business Profits

      445.1         106.7         (151.8 ) 

 

(Note)   The figures in parentheses reflect the adjustment of the impact on banking subsidiaries (JPY 45.0 billion, eliminated on a consolidated basis) of a change in the recipients of dividend payments under our schemes for capital raising through issuance of preferred debt securities by SPCs

 

 

Definition

3 Banks: Aggregate figures for Mizuho Bank, Mizuho Corporate Bank and Mizuho Trust & Banking on a non-consolidated basis.

 

 

 

2-5

 

SELECTED FINANCIAL INFORMATION

For the Second Quarter (First Half) of Fiscal 2010

(Six months ended September 30, 2010)

<Under Japanese GAAP>

 

 

LOGO

Mizuho Financial Group, Inc.

 

C O N T E N T S

 

 

Notes:

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

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

“NON(B&R)”: Aggregated figures of the relevant banks including past figures for their former financial subsidiaries for corporate revitalization.

*MHBK, MHCB and MHTB merged with their own financial subsidiaries for corporate revitalization respectively, as of October 1, 2005.

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

 

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2010

    See above Notes    Page  

1. Income Analysis

    CON   NON(B)      3- 1   

2. Interest Margins (Domestic Operations)

    NON(B)        3- 6   

3. Use and Source of Funds

    NON(B)        3- 7   

4. Net Gains/Losses on Securities

    NON(B)        3- 11   

5. Unrealized Gains/Losses on Securities

    CON   NON(B)      3- 13   

6. Projected Redemption Amounts for Securities

    NON(B)        3- 15   

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

    NON(B)        3- 16   

8. Employee Retirement Benefits

    NON(B)   CON      3- 17   

9. Capital Adequacy Ratio

    CON        3- 19   

II. REVIEW OF CREDITS

   See above Notes    Page  

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

    CON   NON(B)      3- 21   

2. Status of Reserves for Possible Losses on Loans

    CON   NON(B)      3- 23   

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

    CON   NON(B)      3- 24   

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

    CON   NON(B)      3- 25   

5. Coverage on Disclosed Claims under the FRL

    NON(B)        3- 27   

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

    NON(B)        3- 30   

7. Results of Removal of NPLs from the Balance Sheet

    NON(B&R)        3- 31   

8. Status of Loans by Industry

        

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

    NON(B)        3- 33   

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

    NON(B)        3- 35   

9. Housing and Consumer Loans & Loans to Small and Medium-Sized Enterprises

        

(“SMEs”) and Individual Customers

        

(1) Balance of Housing and Consumer Loans

    NON(B)        3- 36   

(2) Loans to SMEs and Individual Customers

    NON(B)        3- 36   

10. Status of Loans by Region

        

(1) Balance of Loans to Restructuring Countries

    NON(B)        3- 37   

(2) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Region

    NON(B)        3- 37   

III. DEFERRED TAXES

   See above Notes    Page  

1. Change in Deferred Tax Assets, etc.

    CON   NON(B)      3- 38   

2. Estimation of Deferred Tax Assets, etc.

        

(1) Calculation Policy

    NON(B)        3- 39   

(2) Estimation for Calculating Deferred Tax Assets

    NON(B)        3- 40   

 

IV. OTHERS

    See above Notes    Page  

1. Breakdown of Deposits (Domestic Offices)

      NON(B)            3- 44   

2. Number of Directors and Employees

      HC       NON(B)      3- 45   

3. Number of Branches and Offices

      NON(B)            3- 46   

4. Earnings Plan for Fiscal 2010

      CON       NON(B)      3- 47   

Attachments

   See above Notes    Page  

Mizuho Bank, Ltd.

         

Comparison of Non-Consolidated Balance Sheets (selected items)

      NON(B)            3- 48   

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

      NON(B)            3- 49   

Non-Consolidated Statement of Changes in Net Assets

      NON(B)            3- 50   

Mizuho Corporate Bank, Ltd.

         

Comparison of Non-Consolidated Balance Sheets (selected items)

      NON(B)            3- 51   

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

      NON(B)            3- 52   

Non-Consolidated Statement of Changes in Net Assets

      NON(B)            3- 53   

 

 

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

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

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

Further information regarding factors that could affect our financial condition and results of operations is included in “Item 3.D. Key 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.

 

 

I. FINANCIAL DATA FOR THE FIRST HALF OF FISCAL 2010

1. Income Analysis

Consolidated

 

            (Millions of yen)  
            First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Consolidated Gross Profits

      1         1,100,896        95,698        1,005,198   

Net Interest Income

      2         553,544        (27,534 )      581,078   

Fiduciary Income

      3         24,058        (92 )      24,150   

Credit Costs for Trust Accounts

      4         —          —          —     

Net Fee and Commission Income

      5         219,169        (2,855 )      222,025   

Net Trading Income

      6         177,612        (20,298 )      197,911   

Net Other Operating Income

      7         126,511        146,478        (19,967 ) 

General and Administrative Expenses

      8         (639,393 )      18,357        (657,751 ) 

Personnel Expenses

      9         (312,781 )      19,511        (332,293 ) 

Non-Personnel Expenses

      10         (299,928 )      (72 )      (299,856 ) 

Miscellaneous Taxes

      11         (26,683 )      (1,081 )      (25,601 ) 

Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      12         (29,982 )      160,806        (190,788 ) 

Losses on Write-offs of Loans

      13         (29,429 )      40,139        (69,568 ) 

Reversal of (Provision for) Reserves for Possible Losses on Loans

      14         —          111,922        (111,922 ) 

Net Gains (Losses) related to Stocks

      15         (10,567 )      (30,793 )      20,225   

Equity in Income from Investments in Affiliates

      16         2,503        1,057        1,446   

Other

      17         372        74,912        (74,540 ) 
                           

Ordinary Profits

      18         423,829        320,039        103,789   

Net Extraordinary Gains (Losses)

      19         27,247        (13,145 )      40,393   

Reversal of Reserves for Possible Losses on Loans, etc.

      20         38,543        9,544        28,998   

Reversal of Reserve for Possible Losses on Investments

      21         7        7        —     
                           

Income before Income Taxes and Minority Interests

      22         451,076        306,893        144,183   

Income Taxes - Current *

      23         (11,236 )      408        (11,644 ) 

              - Deferred

      24         (47,250 )      (58,023 )      10,773   

Net Income before Minority Interests

      25         392,590        249,278        143,312   

Minority Interests in Net Income

      26         (50,831 )      4,674        (55,505 ) 
                           

Net Income

      27         341,759        253,952        87,806   
                           

 

* Income Taxes - Current [23] includes Refund of Income Taxes.

 

Credit-related Costs

(including Credit Costs for Trust Accounts)

      28           8,561         170,350        (161,789 ) 

 

*  Credit-related Costs [28] = Expenses related to Portfolio Problems (including Reversal of (Provision for) General Reserve for Possible Losses on Loans ) [12] + Reversal of Reserves for Possible Losses on Loans, etc. [20] + Credit Costs for Trust Accounts [4]

    

(Reference)             

Consolidated Net Business Profits

      29           464,991         105,475        359,516   

 

*  Consolidated Net Business Profits [29] = Consolidated Gross Profits [1] - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

    

Number of consolidated subsidiaries

      30           163         (1 )      164   

Number of affiliates under the equity method

      31           21         (2 )      23   

 

3-1

 

Aggregated Figures of the 3 Banks

Non-Consolidated

 

            (Millions of yen)  
            First Half of Fiscal 2010     First Half of
Fiscal 2009		  
            MHBK     MHCB     MHTB     Aggregated
Figures		     Change    

Gross Profits

      1         421,693        397,221        66,538        885,453        94,804        790,648   

Domestic Gross Profits

      2         360,060        177,617        62,323        600,001        22,435        577,566   

Net Interest Income

      3         273,537        108,651        18,240        400,429        (26,429 )      426,858   

Fiduciary Income

      4             23,806        23,806        8        23,797   

Credit Costs for Trust Accounts

      5             —          —          —          —     

Net Fee and Commission Income

      6         68,361        29,064        13,387        110,813        6,848        103,965   

Net Trading Income

      7         1,865        9,413        2,659        13,937        (5,004 )      18,942   

Net Other Operating Income

      8         16,295        30,488        4,230        51,014        47,011        4,003   

International Gross Profits

      9         61,633        219,603        4,214        285,451        72,369        213,082   

Net Interest Income

      10         12,347        96,185        2,043        110,577        (23,191 )      133,769   

Net Fee and Commission Income

      11         5,526        27,426        (23 )      32,929        819        32,109   

Net Trading Income

      12         40,798        36,779        (1,221 )      76,356        1,064        75,291   

Net Other Operating Income

      13         2,960        59,211        3,416        65,588        93,676        (28,088 ) 

General and Administrative Expenses (excluding Non-Recurring Losses)

      14         (279,368 )      (116,517 )      (44,465 )      (440,350 )      11,950        (452,301 ) 

Expense Ratio

      15         66.2 %      29.3 %      66.8 %      49.7 %      (7.4 %)      57.2 % 

Personnel Expenses

      16         (93,812 )      (40,794 )      (16,978 )      (151,585 )      7,661        (159,247 ) 

Non-Personnel Expenses

      17         (169,783 )      (69,691 )      (26,206 )      (265,681 )      5,401        (271,082 ) 

Premium for Deposit Insurance

      18         (23,231 )      (3,579 )      (1,350 )      (28,161 )      (921 )      (27,239 ) 

Miscellaneous Taxes

      19         (15,771 )      (6,031 )      (1,280 )      (23,083 )      (1,111 )      (21,971 ) 
                                                   

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) *1

      20         142,325        280,703        22,073        445,102        106,755        338,347   

Excluding Net Gains (Losses) related to Bonds

      21         113,452        190,876        14,492        318,821        (3,170 )      321,992   
                                                   

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      22         —          —          504        504        (24,997 )      25,502   
                                                   

Net Business Profits

      23         142,325        280,703        22,578        445,607        81,757        363,849   

Net Gains (Losses) related to Bonds

      24         28,872        89,826        7,581        126,281        109,926        16,354   
                                                   

Net Non-Recurring Gains (Losses)

      25         (53,041 )      (30,224 )      (7,051 )      (90,317 )      179,015        (269,333 ) 

Net Gains (Losses) related to Stocks

      26         (6,258 )      (7,865 )      (904 )      (15,029 )      (39,133 )      24,104   

Expenses related to Portfolio Problems

      27         (25,306 )      (3,656 )      (1,916 )      (30,879 )      138,903        (169,783 ) 

Other

      28         (21,476 )      (18,701 )      (4,230 )      (44,408 )      79,246        (123,654 ) 
                                                   

Ordinary Profits

      29         89,283        250,479        15,526        355,289        260,773        94,516   
                                                   

Net Extraordinary Gains (Losses)

      30         25,312        19,029        449        44,790        20,970        23,820   

Net Gains (Losses) on Disposition of Fixed Assets

      31         (732 )      (785 )      (43 )      (1,560 )      786        (2,347 ) 

Losses on Impairment of Fixed Assets

      32         (1,633 )      (814 )      (2 )      (2,451 )      268        (2,719 ) 

Reversal of Reserves for Possible Losses on Loans, etc.

      33         28,113        27,513        35        55,662        28,340        27,322   

Reversal of Reserve for Possible Losses on Investments

      34         9        83        —          93        93        —     

Income before Income Taxes

      35         114,595        269,508        15,976        400,080        281,744        118,336   

Income Taxes - Current *2

      36         (247 )      (4,670 )      (4 )      (4,922 )      (4,142 )      (780 ) 

              - Deferred

      37         12,669        (49,142 )      (3,675 )      (40,148 )      (50,728 )      10,579   
                                                   

Net Income

      38         127,017        215,695        12,297        355,009        226,873        128,135   
                                                   

 

*1.Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) of MHTB excludes the amounts of Credit Costs for Trust Accounts [5].

*2.Income Taxes - Current [36] includes Refund of Income Taxes.

   

  

Credit-related Costs

      39         2,807        23,856        (1,376 )      25,288        142,246        (116,958 ) 

 

*  Credit-related Costs [39] = Expenses related to Portfolio Problems [27] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [22] + Reversal of Reserves for Possible Losses on Loans, etc. [33] + Credit Costs for Trust Accounts [5]

    

(Reference) Breakdown of Credit-related Costs

  

          

Credit Costs for Trust Accounts

      40             —          —          —          —     

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      41         16,341        18,183        504        35,029        9,527        25,502   

Losses on Write-offs of Loans

      42         (8,439 )      4,244        (1,408 )      (5,602 )      37,602        (43,205 ) 

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

      43         (4,229 )      791        (508 )      (3,946 )      87,038        (90,984 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

      44         —          161        0        161        34        126   

Reversal of (Provision for) Reserve for Contingencies

      45         —          606        35        641        (633 )      1,274   

Other (including Losses on Sales of Loans)

      46         (865 )      (129 )      —          (995 )      8,677        (9,672 ) 

Total

      47         2,807        23,856        (1,376 )      25,288        142,246        (116,958 ) 

 

3-2

 

Mizuho Bank

Non-Consolidated

            (Millions of yen)  
            First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Gross Profits

      1         421,693        13,469        408,224   

Domestic Gross Profits

      2         360,060        (8,137 )      368,198   

Net Interest Income

      3         273,537        (22,997 )      296,535   

Net Fee and Commission Income

      4         68,361        4,788        63,572   

Net Trading Income

      5         1,865        (853 )      2,718   

Net Other Operating Income

      6         16,295        10,924        5,371   

International Gross Profits

      7         61,633        21,607        40,026   

Net Interest Income

      8         12,347        (2,877 )      15,224   

Net Fee and Commission Income

      9         5,526        544        4,982   

Net Trading Income

      10         40,798        (1,347 )      42,145   

Net Other Operating Income

      11         2,960        25,287        (22,326 ) 

General and Administrative Expenses (excluding Non-Recurring Losses)

      12         (279,368 )      5,637        (285,005 ) 

Expense Ratio

      13         66.2 %      (3.5 %)      69.8 % 

Personnel Expenses

      14         (93,812 )      4,247        (98,060 ) 

Non-Personnel Expenses

      15         (169,783 )      2,329        (172,112 ) 

Premium for Deposit Insurance

      16         (23,231 )      (635 )      (22,595 ) 

Miscellaneous Taxes

      17         (15,771 )      (939 )      (14,831 ) 
                           

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      18         142,325        19,106        123,218   

Excluding Net Gains (Losses) related to Bonds

      19         113,452        (7,231 )      120,684   
                           

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      20         —          (2,368 )      2,368   
                           

Net Business Profits

      21         142,325        16,738        125,587   

Net Gains (Losses) related to Bonds

      22         28,872        26,338        2,534   

Net Non-Recurring Gains (Losses)

      23         (53,041 )      53,471        (106,512 ) 

Net Gains (Losses) related to Stocks

      24         (6,258 )      304        (6,562 ) 

Expenses related to Portfolio Problems

      25         (25,306 )      43,424        (68,730 ) 

Other

      26         (21,476 )      9,742        (31,219 ) 
                           

Ordinary Profits

      27         89,283        70,209        19,074   
                           

Net Extraordinary Gains (Losses)

      28         25,312        10,174        15,137   

Net Gains (Losses) on Disposition of Fixed Assets

      29         (732 )      836        (1,569 ) 

Losses on Impairment of Fixed Assets

      30         (1,633 )      (1,332 )      (301 ) 

Reversal of Reserves for Possible Losses on Loans, etc.

      31         28,113        11,612        16,501   

Reversal of Reserve for Possible Losses on Investments

      32         9        9        —     

Income before Income Taxes

      33         114,595        80,384        34,211   

Income Taxes - Current

      34         (247 )      23        (271 ) 

              - Deferred

      35         12,669        (7,223 )      19,892   
                           

Net Income

      36         127,017        73,184        53,833   
                           

Credit-related Costs

      37         2,807        52,668        (49,860 ) 

 

*  Credit-related Costs [37] = Expenses related to Portfolio Problems [25] + Reversal of (Provision for) General Reserve for Possible Losses on Loans [20] + Reversal of Reserves for Possible Losses on Loans, etc. [31]

   

(Reference) Breakdown of Credit-related Costs

          

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      38         16,341        13,973        2,368   

Losses on Write-offs of Loans

      39         (8,439 )      15,282        (23,721 ) 

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

      40         (4,229 )      22,348        (26,577 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

      41         —          —          —     

Reversal of (Provision for) Reserve for Contingencies

      42         —          —          —     

Other (including Losses on Sales of Loans)

      43         (865 )      1,064        (1,929 ) 

Total

      44         2,807        52,668        (49,860 ) 

 

3-3

 

Mizuho Corporate Bank

Non-Consolidated

 

            (Millions of yen)  
            First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Gross Profits

      1         397,221        78,574        318,646   

Domestic Gross Profits

      2         177,617        27,381        150,236   

Net Interest Income

      3         108,651        (766 )      109,417   

Net Fee and Commission Income

      4         29,064        679        28,384   

Net Trading Income

      5         9,413        (5,154 )      14,568   

Net Other Operating Income

      6         30,488        32,622        (2,133 ) 

International Gross Profits

      7         219,603        51,193        168,409   

Net Interest Income

      8         96,185        (20,059 )      116,245   

Net Fee and Commission Income

      9         27,426        266        27,160   

Net Trading Income

      10         36,779        3,908        32,871   

Net Other Operating Income

      11         59,211        67,077        (7,866 ) 

General and Administrative Expenses (excluding Non-Recurring Losses)

      12         (116,517 )      4,898        (121,415 ) 

Expense Ratio

      13         29.3 %      (8.7 %)      38.1 % 

Personnel Expenses

      14         (40,794 )      2,775        (43,569 ) 

Non-Personnel Expenses

      15         (69,691 )      2,393        (72,084 ) 

Premium for Deposit Insurance

      16         (3,579 )      (338 )      (3,240 ) 

Miscellaneous Taxes

      17         (6,031 )      (270 )      (5,761 ) 
                           

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      18         280,703        83,472        197,230   

Excluding Net Gains (Losses) related to Bonds

      19         190,876        4,700        186,176   

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      20         —          (24,347 )      24,347   
                           

Net Business Profits

      21         280,703        59,125        221,577   

Net Gains (Losses) related to Bonds

      22         89,826        78,772        11,054   

Net Non-Recurring Gains (Losses)

      23         (30,224 )      123,805        (154,029 ) 

Net Gains (Losses) related to Stocks

      24         (7,865 )      (38,411 )      30,545   

Expenses related to Portfolio Problems

      25         (3,656 )      90,896        (94,553 ) 

Other

      26         (18,701 )      71,320        (90,022 ) 
                           

Ordinary Profits

      27         250,479        182,931        67,547   

Net Extraordinary Gains (Losses)

      28         19,029        10,406        8,622   

Net Gains (Losses) on Disposition of Fixed Assets

      29         (785 )      (120 )      (665 ) 

Losses on Impairment of Fixed Assets

      30         (814 )      1,047        (1,861 ) 

Reversal of Reserves for Possible Losses on Loans, etc.

      31         27,513        16,718        10,794   

Reversal of Reserve for Possible Losses on Investments

      32         83        83        —     
                           

Income before Income Taxes

      33         269,508        193,338        76,170   

Income Taxes - Current *

      34         (4,670 )      (4,168 )      (502 ) 

              - Deferred

      35         (49,142 )      (41,476 )      (7,666 ) 

Net Income

      36         215,695        147,693        68,001   
                           

__________

*  Income Taxes - Current [34] includes Refund of Income Taxes.

          

Credit-related Costs

      37         23,856        83,267        (59,411 ) 

__________

*  Credit-related Costs [37] = Expenses related to Portfolio Problems [25] + Reversal of (Provision for) General Reserve for                                              Possible Losses on Loans [20] + Reversal of Reserves for Possible Losses on Loans, etc. [31]

 

    

(Reference) Breakdown of Credit-related Costs

          

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      38         18,183        (6,163 )      24,347   

Losses on Write-offs of Loans

      39         4,244        21,488        (17,244 ) 

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

      40         791        60,939        (60,148 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

      41         161        34        126   

Reversal of (Provision for) Reserve for Contingencies

      42         606        (643 )      1,249   

Other (including Losses on Sales of Loans)

      43         (129 )      7,612        (7,742 ) 
                           

Total

      44         23,856        83,267        (59,411 ) 
                           

 

3-4

 

Mizuho Trust & Banking

Non-Consolidated

 

            (Millions of yen)  
            First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Gross Profits

      1         66,538        2,760        63,778   

Domestic Gross Profits

      2         62,323        3,192        59,131   

Net Interest Income

      3         18,240        (2,664 )      20,905   

Fiduciary Income

      4         23,806        8        23,797   

Credit Costs for Trust Accounts

      5         —          —          —     

Net Fee and Commission Income

      6         13,387        1,379        12,007   

Net Trading Income

      7         2,659        1,003        1,655   

Net Other Operating Income

      8         4,230        3,464        765   

International Gross Profits

      9         4,214        (431 )      4,646   

Net Interest Income

      10         2,043        (255 )      2,299   

Net Fee and Commission Income

      11         (23 )      8        (32 ) 

Net Trading Income

      12         (1,221 )      (1,496 )      274   

Net Other Operating Income

      13         3,416        1,311        2,105   

General and Administrative Expenses (excluding Non-Recurring Losses)

      14         (44,465 )      1,415        (45,880 ) 

Expense Ratio

      15         66.8 %      (5.1 %)      71.9 % 

Personnel Expenses

      16         (16,978 )      638        (17,616 ) 

Non-Personnel Expenses

      17         (26,206 )      678        (26,885 ) 

Premium for Deposit Insurance

      18         (1,350 )      52        (1,402 ) 

Miscellaneous Taxes

      19         (1,280 )      98        (1,378 ) 
                           

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) *

      20         22,073        4,175        17,897   

Excluding Net Gains (Losses) related to Bonds

      21         14,492        (639 )      15,131   

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      22         504        1,718        (1,213 ) 
                           

Net Business Profits

      23         22,578        5,893        16,684   

Net Gains (Losses) related to Bonds

      24         7,581        4,815        2,765   

Net Non-Recurring Gains (Losses)

      25         (7,051 )      1,738        (8,790 ) 

Net Gains (Losses) related to Stocks

      26         (904 )      (1,026 )      122   

Expenses related to Portfolio Problems

      27         (1,916 )      4,582        (6,499 ) 

Other

      28         (4,230 )      (1,816 )      (2,413 ) 
                           

Ordinary Profits

      29         15,526        7,632        7,894   

Net Extraordinary Gains (Losses)

      30         449        389        60   

Net Gains (Losses) on Disposition of Fixed Assets

      31         (43 )      69        (112 ) 

Losses on Impairment of Fixed Assets

      32         (2 )      553        (556 ) 

Reversal of Reserves for Possible Losses on Loans, etc.

      33         35        9        25   
                           

Income before Income Taxes

      34         15,976        8,021        7,954   

Income Taxes - Current

      35         (4 )      2        (6 ) 

    - Deferred

      36         (3,675 )      (2,028 )      (1,647 ) 
                           

Net Income

      37         12,297        5,996        6,300   
                           

________

*  Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans) [20]

                    = Gross Profits [1] + General and Administrative Expenses (excluding Non-Recurring Losses) [14] - Credit Costs for                         Trust Accounts [5]

 

   

   

Credit-related Costs

      38         (1,376 )      6,310        (7,686 ) 

________

*  Credit-related Costs [38] = Expenses related to Portfolio Problems [27] + Reversal of (Provision for) General Reserve for                                              Possible Losses on Loans [22] + Reversal of Reserves for Possible Losses on Loans, etc. [33] +                                              Credit Costs for Trust Accounts [5]

  

     

(Reference) Breakdown of Credit-related Costs

          

Credit Costs for Trust Accounts

      39         —          —          —     

Reversal of (Provision for) General Reserve for Possible Losses on Loans

      40         504        1,718        (1,213 ) 

Losses on Write-offs of Loans

      41         (1,408 )      831        (2,240 ) 

Reversal of (Provision for) Specific Reserve for Possible Losses on Loans

      42         (508 )      3,750        (4,258 ) 

Reversal of (Provision for) Reserve for Possible Losses on Loans to Restructuring Countries

      43         0        (0 )      0   

Reversal of (Provision for) Reserve for Contingencies

      44         35        9        25   

Other (including Losses on Sales of Loans)

      45         —          —          —     
                           

Total

      46         (1,376 )      6,310        (7,686 ) 
                           

 

3-5

 

2. Interest Margins (Domestic Operations)

Non-Consolidated

 

                  (%)  
Aggregated Figures of MHBK and MHCB                 First Half of
Fiscal 2010		      Change     First Half of
Fiscal 2009		  

Return on Interest-Earning Assets

        1         0.99         (0.12 )      1.12   

Return on Loans and Bills Discounted

        2         1.34         (0.11 )      1.45   

Return on Securities

        3         0.61         (0.06 )      0.68   

Cost of Funding (including Expenses)

        4         0.88         (0.08 )      0.97   

Cost of Deposits and Debentures (including Expenses)

        5         1.01         (0.11 )      1.13   

Cost of Deposits and Debentures

        6         0.12         (0.07 )      0.19   

Cost of Other External Liabilities

        7         0.32         (0.06 )      0.39   

Net Interest Margin

      (1 )-(4)      8         0.11         (0.03 )      0.14   

Loan and Deposit Rate Margin (including Expenses)

      (2 )-(5)      9         0.32         0.00        0.32   

Loan and Deposit Rate Margin

      (2 )-(6)      10         1.22         (0.03 )      1.25   

__________

*  Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).

*  Deposits and Debentures include Negotiable Certificates of Deposit (“NCDs”).

 

(Reference) After excluding loans to Deposit Insurance Corporation of Japan and Japanese government

 

   

   

  

Return on Loans and Bills Discounted

        11         1.49         (0.12 )      1.61   

Loan and Deposit Rate Margin (including Expenses)

      (11 )-(5)      12         0.47         (0.00 )      0.48   

Loan and Deposit Rate Margin

      (11 )-(6)      13         1.36         (0.04 )      1.41   

 

Mizuho Bank

             

Return on Interest-Earning Assets

        14         1.04         (0.14 )      1.19   

Return on Loans and Bills Discounted

        15         1.49         (0.08 )      1.58   

Return on Securities

        16         0.48         (0.08 )      0.56   

Cost of Funding (including Expenses)

        17         0.99         (0.07 )      1.06   

Cost of Deposits and Debentures (including Expenses)

        18         1.04         (0.08 )      1.12   

Cost of Deposits and Debentures

        19         0.11         (0.06 )      0.17   

Cost of Other External Liabilities

        20         0.25         0.00        0.25   

Net Interest Margin

      (14 )-(17)      21         0.05         (0.06 )      0.12   

Loan and Deposit Rate Margin (including Expenses)

      (15 )-(18)      22         0.45         (0.00 )      0.45   

Loan and Deposit Rate Margin

      (15 )-(19)      23         1.38         (0.02 )      1.40   

__________

*  Deposits and Debentures include NCDs.

 

(Reference)After excluding loans to Deposit Insurance Corporation of Japan and Japanese government

 

   

  

Return on Loans and Bills Discounted

        24         1.70         (0.12 )      1.83   

Loan and Deposit Rate Margin (including Expenses)

      (24 )-(18)      25         0.66         (0.04 )      0.70   

Loan and Deposit Rate Margin

      (24 )-(19)      26         1.59         (0.05 )      1.65   

Mizuho Corporate Bank

             

Return on Interest-Earning Assets

        27         0.90         (0.09 )      1.00   

Return on Loans and Bills Discounted

        28         1.05         (0.15 )      1.21   

Return on Securities

        29         0.76         (0.05 )      0.82   

Cost of Funding (including Expenses)

        30         0.69         (0.11 )      0.81   

Cost of Deposits and Debentures (including Expenses)

        31         0.92         (0.22 )      1.15   

Cost of Deposits and Debentures

        32         0.15         (0.10 )      0.25   

Cost of Other External Liabilities

        33         0.34         (0.08 )      0.42   

Net Interest Margin

      (27 )-(30)      34         0.21         0.01        0.19   

Loan and Deposit Rate Margin (including Expenses)

      (28 )-(31)      35         0.13         0.06        0.06   

Loan and Deposit Rate Margin

      (28 )-(32)      36         0.90         (0.05 )      0.96   

__________

*  Deposits and Debentures include NCDs.

 

(Reference)After excluding loans to Deposit Insurance Corporation of Japan and Japanese government

 

   

  

Return on Loans and Bills Discounted

        37         1.12         (0.14 )      1.26   

Loan and Deposit Rate Margin (including Expenses)

      (37 )-(31)      38         0.19         0.08        0.10   

Loan and Deposit Rate Margin

      (37 )-(32)      39         0.96         (0.04 )      1.00   

Mizuho Trust & Banking (3 domestic accounts)

             

Return on Interest-Earning Assets

        40         1.09         (0.12 )      1.21   

Return on Loans and Bills Discounted

        41         1.41         (0.15 )      1.57   

Return on Securities

        42         0.54         (0.13 )      0.67   

Cost of Funding

        43         0.34         (0.11 )      0.46   

Cost of Deposits

        44         0.26         (0.15 )      0.42   

Net Interest Margin

      (40 )-(43)      45         0.74         (0.00 )      0.74   

Loan and Deposit Rate Margin

      (41 )-(44)      46         1.14         (0.00 )      1.14   
__________
* 3 domestic accounts = banking accounts (domestic operations) + trust accounts with contracts indemnifying the principal
                                          amounts (loan trusts + jointly-managed money trusts).
* Deposits include NCDs.

 

3-6

 

3. Use and Source of Funds

Non-Consolidated

Aggregated Figures of MHBK and MHCB

 

     (Millions of yen, %)  
     First Half of Fiscal 2010      Change      First Half of Fiscal 2009  
(Total)    Average Balance      Rate      Average Balance     Rate      Average Balance      Rate  

Use of Funds

      117,494,547         1.16         681,000        (0.20 )       116,813,547         1.37   

Loans and Bills Discounted

      58,323,103         1.40         (5,555,919 )      (0.14 )       63,879,022         1.54   

Securities

      41,809,508         0.84         7,912,189        (0.37 )       33,897,319         1.21   

Source of Funds

      118,684,609         0.32         (1,088,004 )      (0.11 )       119,772,613         0.44   

Deposits

      72,910,406         0.14         264,871        (0.08 )       72,645,535         0.23   

NCDs

      10,597,283         0.21         1,012,777        (0.12 )       9,584,506         0.33   

Debentures

      1,343,842         0.59         (792,005 )      (0.03 )       2,135,847         0.62   

Call Money

      13,517,483         0.31         (936,405 )      (0.13 )       14,453,888         0.45   

Payables under Repurchase Agreements

      4,665,651         0.23         (845,633 )      (0.07 )       5,511,285         0.30   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      7,137,393         1.59         (1,410,926 )      (0.09 )       8,548,320         1.69   

(Domestic Operations)

                 

Use of Funds

      97,847,154         0.99         394,208        (0.12 )       97,452,945         1.12   

Loans and Bills Discounted

      49,849,405         1.33         (4,240,808 )      (0.11 )       54,090,214         1.44   

Securities

      34,372,275         0.61         6,503,014        (0.06 )       27,869,261         0.68   

Source of Funds

      99,317,025         0.21         (574,852 )      (0.06 )       99,891,877         0.28   

Deposits

      63,601,470         0.10         899,705        (0.05 )       62,701,764         0.16   

NCDs

      9,276,747         0.13         718,338        (0.14 )       8,558,409         0.27   

Debentures

      1,343,842         0.59         (792,005 )      (0.03 )       2,135,847         0.62   

Call Money

      13,306,231         0.30         (809,771 )      (0.12 )       14,116,003         0.42   

Payables under Repurchase Agreements

      766,429         0.12         (1,325,085 )      (0.01 )       2,091,515         0.13   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      4,522,327         0.40         (615,163 )      0.00         5,137,490         0.39   

(International Operations)

                 

Use of Funds

      21,266,839         1.86         (384,279 )      (0.52 )       21,651,118         2.39   

Loans and Bills Discounted

      8,473,697         1.76         (1,315,111 )      (0.33 )       9,788,808         2.10   

Securities

      7,437,232         1.88         1,409,174        (1.78 )       6,028,057         3.67   

Source of Funds

      20,987,030         0.86         (1,184,222 )      (0.29 )       22,171,253         1.15   

Deposits

      9,308,936         0.42         (634,834 )      (0.26 )       9,943,770         0.68   

NCDs

      1,320,535         0.79         294,438        (0.07 )       1,026,096         0.86   

Debentures

      —           —           —          —           —           —     

Call Money

      211,251         0.98         (126,633 )      (0.63 )       337,885         1.62   

Payables under Repurchase Agreements

      3,899,222         0.25         479,452        (0.16 )       3,419,769         0.41   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      2,615,065         3.64         (795,763 )      0.00         3,410,829         3.64   

 

3-7

 

Mizuho Bank

 

     (Millions of yen, %)  
     First Half of Fiscal 2010      Change     First Half of Fiscal 2009  
(Total)    Average Balance      Rate      Average Balance     Rate     Average Balance      Rate  

Use of Funds

      63,260,129         1.08         389,088        (0.16 )      62,871,040         1.25   

Loans and Bills Discounted

      32,785,402         1.46         (2,218,489 )      (0.09 )      35,003,892         1.56   

Securities

      19,419,565         0.58         3,314,828        (0.22 )      16,104,737         0.81   

Source of Funds

      65,324,781         0.18         347,073        (0.07 )      64,977,708         0.25   

Deposits

      55,100,590         0.10         (77,836 )      (0.06 )      55,178,427         0.17   

NCDs

      2,117,741         0.14         113,322        (0.16 )      2,004,419         0.30   

Debentures

      802,700         0.39         (71,455 )      0.01        874,155         0.38   

Call Money

      1,427,750         0.09         (539,976 )      (0.00 )      1,967,726         0.09   

Payables under Repurchase Agreements

      171,997         0.11         (968,714 )      (0.01 )      1,140,712         0.12   

Bills Sold

      —           —           —          —          —           —     

Commercial Paper

      —           —           —          —          —           —     

Borrowed Money

      3,129,179         0.96         954,810        (0.68 )      2,174,368         1.64   

(Domestic Operations)

                

Use of Funds

      60,343,457         1.04         190,055        (0.14 )      60,153,401         1.19   

Loans and Bills Discounted

      32,178,173         1.47         (2,357,917 )      (0.08 )      34,536,090         1.56   

Securities

      17,852,326         0.48         2,838,152        (0.08 )      15,014,173         0.56   

Source of Funds

      62,446,254         0.14         (31,940 )      (0.05 )      62,478,194         0.19   

Deposits

      54,067,869         0.10         (111,883 )      (0.06 )      54,179,752         0.16   

NCDs

      2,115,493         0.14         113,427        (0.16 )      2,002,066         0.30   

Debentures

      802,700         0.39         (71,455 )      0.01        874,155         0.38   

Call Money

      1,427,750         0.09         (539,976 )      (0.00 )      1,967,726         0.09   

Payables under Repurchase Agreements

      171,997         0.11         (968,714 )      (0.01 )      1,140,712         0.12   

Bills Sold

      —           —           —          —          —           —     

Commercial Paper

      —           —           —          —          —           —     

Borrowed Money

      2,571,115         0.35         1,061,923        (0.18 )      1,509,192         0.54   

(International Operations)

                

Use of Funds

      3,225,861         1.74         497,011        (0.86 )      2,728,850         2.61   

Loans and Bills Discounted

      607,229         1.26         139,427        (0.31 )      467,802         1.58   

Securities

      1,567,239         1.77         476,675        (2.38 )      1,090,564         4.16   

Source of Funds

      3,187,717         0.99         676,992        (0.63 )      2,510,725         1.62   

Deposits

      1,032,721         0.32         34,046        (0.24 )      998,675         0.56   

NCDs

      2,248         0.36         (104 )      (0.27 )      2,353         0.64   

Debentures

      —           —           —          —          —           —     

Call Money

      —           —           —          —          —           —     

Payables under Repurchase Agreements

      —           —           —          —          —           —     

Bills Sold

      —           —           —          —          —           —     

Commercial Paper

      —           —           —          —          —           —     

Borrowed Money

      558,064         3.73         (107,112 )      (0.39 )      665,176         4.12   

 

3-8

 

Mizuho Corporate Bank

 

     (Millions of yen, %)  
     First Half of Fiscal 2010      Change      First Half of Fiscal 2009  
(Total)    Average Balance      Rate      Average Balance     Rate      Average Balance      Rate  

Use of Funds

      54,234,418         1.25         291,911        (0.25 )       53,942,507         1.50   

Loans and Bills Discounted

      25,537,700         1.31         (3,337,430 )      (0.22 )       28,875,130         1.53   

Securities

      22,389,942         1.06         4,597,360        (0.51 )       17,792,581         1.58   

Source of Funds

      53,359,828         0.50         (1,435,077 )      (0.15 )       54,794,905         0.66   

Deposits

      17,809,815         0.27         342,708        (0.16 )       17,467,107         0.44   

NCDs

      8,479,542         0.23         899,454        (0.11 )       7,580,087         0.34   

Debentures

      541,142         0.87         (720,549 )      0.08         1,261,692         0.79   

Call Money

      12,089,733         0.34         (396,428 )      (0.16 )       12,486,162         0.51   

Payables under Repurchase Agreements

      4,493,653         0.23         123,080        (0.11 )       4,370,573         0.35   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      4,008,213         2.08         (2,365,737 )      0.37         6,373,951         1.71   

(Domestic Operations)

                 

Use of Funds

      37,503,696         0.90         204,152        (0.09 )       37,299,543         1.00   

Loans and Bills Discounted

      17,671,232         1.09         (1,882,891 )      (0.15 )       19,554,123         1.25   

Securities

      16,519,949         0.76         3,664,861        (0.05 )       12,855,088         0.82   

Source of Funds

      36,870,771         0.33         (542,911 )      (0.08 )       37,413,682         0.42   

Deposits

      9,533,600         0.13         1,011,588        (0.03 )       8,522,012         0.16   

NCDs

      7,161,254         0.12         604,910        (0.13 )       6,556,343         0.26   

Debentures

      541,142         0.87         (720,549 )      0.08         1,261,692         0.79   

Call Money

      11,878,481         0.33         (269,795 )      (0.14 )       12,148,276         0.47   

Payables under Repurchase Agreements

      594,431         0.12         (356,371 )      (0.02 )       950,803         0.14   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      1,951,212         0.46         (1,677,086 )      0.13         3,628,298         0.33   

(International Operations)

                 

Use of Funds

      18,040,977         1.89         (881,291 )      (0.47 )       18,922,268         2.36   

Loans and Bills Discounted

      7,866,467         1.80         (1,454,538 )      (0.32 )       9,321,006         2.12   

Securities

      5,869,992         1.91         932,499        (1.64 )       4,937,493         3.56   

Source of Funds

      17,799,312         0.83         (1,861,215 )      (0.25 )       19,660,528         1.09   

Deposits

      8,276,215         0.43         (668,880 )      (0.26 )       8,945,095         0.70   

NCDs

      1,318,287         0.79         294,543        (0.07 )       1,023,743         0.86   

Debentures

      —           —           —          —           —           —     

Call Money

      211,251         0.98         (126,633 )      (0.63 )       337,885         1.62   

Payables under Repurchase Agreements

      3,899,222         0.25         479,452        (0.16 )       3,419,769         0.41   

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      2,057,001         3.62         (688,651 )      0.09         2,745,652         3.53   

 

3-9

 

Mizuho Trust & Banking (Banking Account)

 

     (Millions of yen, %)  
     First Half of Fiscal 2010      Change      First Half of Fiscal 2009  
(Total)    Average Balance      Rate      Average Balance     Rate      Average Balance      Rate  

Use of Funds

      5,534,812         1.11         (537,492 )      (0.14 )       6,072,305         1.26   

Loans and Bills Discounted

      3,413,849         1.41         (148,348 )      (0.15 )       3,562,198         1.57   

Securities

      1,635,374         0.65         (384,788 )      (0.16 )       2,020,163         0.81   

Source of Funds

      5,452,416         0.39         (570,849 )      (0.11 )       6,023,265         0.50   

Deposits

      2,367,426         0.33         (390,759 )      (0.14 )       2,758,185         0.48   

NCDs

      798,680         0.17         48,903        (0.20 )       749,776         0.37   

Debentures

      —           —           —          —           —           —     

Call Money

      557,494         0.14         (175,763 )      (0.09 )       733,257         0.24   

Payables under Repurchase Agreements

      —           —           —          —           —           —     

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      352,772         0.21         (164,770 )      (0.01 )       517,543         0.22   

(Domestic Operations)

                 

Use of Funds

      5,192,741         1.09         (614,424 )      (0.12 )       5,807,165         1.22   

Loans and Bills Discounted

      3,361,656         1.41         (148,131 )      (0.15 )       3,509,787         1.56   

Securities

      1,174,349         0.47         (439,215 )      (0.17 )       1,613,565         0.65   

Source of Funds

      5,107,092         0.40         (647,107 )      (0.10 )       5,754,200         0.51   

Deposits

      2,356,747         0.33         (386,555 )      (0.14 )       2,743,303         0.48   

NCDs

      798,680         0.17         48,903        (0.20 )       749,776         0.37   

Debentures

      —           —           —          —           —           —     

Call Money

      541,877         0.13         (171,160 )      (0.08 )       713,037         0.21   

Payables under Repurchase Agreements

      —           —           —          —           —           —     

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      352,732         0.21         (161,721 )      (0.00 )       514,454         0.21   

(International Operations)

                 

Use of Funds

      783,026         0.81         131,433        (0.36 )       651,593         1.18   

Loans and Bills Discounted

      52,193         1.60         (216 )      (0.43 )       52,410         2.03   

Securities

      461,025         1.08         54,427        (0.38 )       406,598         1.46   

Source of Funds

      786,279         0.29         130,759        (0.18 )       655,519         0.47   

Deposits

      10,678         0.21         (4,203 )      (0.32 )       14,881         0.54   

NCDs

      —           —           —          —           —           —     

Debentures

      —           —           —          —           —           —     

Call Money

      15,617         0.50         (4,603 )      (0.71 )       20,220         1.22   

Payables under Repurchase Agreements

      —           —           —          —           —           —     

Bills Sold

      —           —           —          —           —           —     

Commercial Paper

      —           —           —          —           —           —     

Borrowed Money

      40         1.17         (3,049 )      (0.03 )       3,089         1.21   

 

3-10

 

4. Net Gains/Losses on Securities

Non-Consolidated

Aggregated Figures of the 3 Banks

 

     (Millions of yen)  
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Bonds

      126,281        109,926        16,354   

Gains on Sales and Others

      163,383        109,855        53,527   

Losses on Sales and Others

      (29,022 )      2,786        (31,809 ) 

Impairment (Devaluation)

      (3,464 )      3,093        (6,558 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —          —          —     

Gains (Losses) on Derivatives other than for Trading

      (4,615 )      (5,809 )      1,194   
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Stocks

      (14,935 )      (39,040 )      24,104   

Gains on Sales

      26,932        (40,745 )      67,678   

Losses on Sales

      (18,683 )      (16,226 )      (2,457 ) 

Impairment (Devaluation)

      (24,317 )      (17,834 )      (6,483 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      93        5,683        (5,590 ) 

Gains (Losses) on Derivatives other than for Trading

      1,038        30,081        (29,043 ) 

 

* Figures include gains on Reversal of Reserve for Possible Losses on Investments (included in Extraordinary Gains).

Mizuho Bank

 

     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Bonds

      28,872        26,338        2,534   

Gains on Sales and Others

      40,189        19,166        21,023   

Losses on Sales and Others

      (7,194 )      10,720        (17,915 ) 

Impairment (Devaluation)

      (2,875 )      (2,875 )      —     

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —          —          —     

Gains (Losses) on Derivatives other than for Trading

      (1,246 )      (672 )      (573 ) 
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Stocks

      (6,248 )      314        (6,562 ) 

Gains on Sales

      2,209        (16,940 )      19,150   

Losses on Sales

      (2,397 )      (1,088 )      (1,308 ) 

Impairment (Devaluation)

      (7,248 )      (2,720 )      (4,528 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      9        26        (16 ) 

Gains (Losses) on Derivatives other than for Trading

      1,177        21,037        (19,860 ) 

 

* Figures include gains on Reversal of Reserve for Possible Losses on Investments (included in Extraordinary Gains).

 

3-11

 

Mizuho Corporate Bank

 

     (Millions of yen)  
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Bonds

      89,826        78,772        11,054   

Gains on Sales and Others

      115,028        85,889        29,139   

Losses on Sales and Others

      (21,154 )      (8,404 )      (12,750 ) 

Impairment (Devaluation)

      (582 )      5,965        (6,548 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —          —          —     

Gains (Losses) on Derivatives other than for Trading

      (3,464 )      (4,678 )      1,213   
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Stocks

      (7,782 )      (38,327 )      30,545   

Gains on Sales

      21,351        (26,327 )      47,678   

Losses on Sales

      (15,847 )      (14,754 )      (1,093 ) 

Impairment (Devaluation)

      (13,230 )      (11,902 )      (1,328 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      83        5,657        (5,573 ) 

Gains (Losses) on Derivatives other than for Trading

      (138 )      8,999        (9,138 ) 

 

* Figures include gains on Reversal of Reserve for Possible Losses on Investments (included in Extraordinary Gains).

Mizuho Trust & Banking

 

     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Bonds

      7,581        4,815        2,765   

Gains on Sales and Others

      8,165        4,800        3,364   

Losses on Sales and Others

      (673 )      470        (1,144 ) 

Impairment (Devaluation)

      (6 )      3        (9 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —          —          —     

Gains (Losses) on Derivatives other than for Trading

      95        (458 )      554   
     First Half of
Fiscal 2010		     Change     First Half of
Fiscal 2009		  

Net Gains (Losses) related to Stocks

      (904 )      (1,026 )      122   

Gains on Sales

      3,371        2,522        849   

Losses on Sales

      (438 )      (382 )      (55 ) 

Impairment (Devaluation)

      (3,837 )      (3,211 )      (626 ) 

Reversal of (Provision for) Reserve for Possible Losses on Investments

      —          —          —     

Gains (Losses) on Derivatives other than for Trading

      —          44        (44 ) 

 

3-12

 

5. Unrealized Gains/Losses on Securities

 

  •  

Securities for which it is deemed to be extremely difficult to determine the fair value are excluded.

Consolidated

(1) Other Securities

 

    (Millions of yen)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
    Book Value
(=Fair Value)		     Unrealized Gains/Losses     Unrealized Gains/Losses     Unrealized Gains/Losses  
            Gains     Losses           Gains     Losses           Gains     Losses  

Other Securities

     43,941,335        96,879        668,632        571,753        275,594        772,825        497,230        206,556        728,668        522,112   

Japanese Stocks

     2,615,887        86,813        377,325        290,512        340,890        549,344        208,453        322,408        540,826        218,418   

Japanese Bonds

     31,306,382        118,012        146,096        28,084        74,214        120,978        46,764        84,434        95,900        11,465   

Japanese Government Bonds

     27,428,839        79,337        81,135        1,798        60,531        69,862        9,331        85,360        88,089        2,729   

Other

     10,019,066        (107,946 )      145,210        253,156        (139,509 )      102,502        242,012        (200,285 )      91,942        292,228   

Foreign Bonds

     7,656,056        33,115        92,270        59,154        (28,314 )      50,281        78,596        (34,040 )      54,114        88,155   

 

* In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included.
* Fair value of Japanese stocks with a quoted market price is determined based on the average quoted market price over the month preceding the consolidated balance sheet date.
   Fair value of securities other than Japanese stocks is determined at the quoted market price if available, or other reasonable value at the consolidated balance sheet date.
* The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the consolidated balance sheets and the acquisition costs.
* Unrealized Gains/Losses include ¥(5,562) million, ¥7,910 million and ¥46,346 million, which were recognized in the statement of income for September 30, 2010, March 31, 2010 and September 30, 2009, respectively, by applying the fair-value hedge method and others.
   As a result, the base amounts to be recorded directly to Net Assets after tax and consolidation adjustments as of September 30, 2010, March 31, 2010 and September 30, 2009 are ¥102,441 million, ¥267,684 million and ¥160,210 million, respectively.
* Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax and consolidation adjustments, excluding the amount recognized in the statement of income by applying the fair-value hedge method and others, including translation differences regarding securities, the fair values of which are extremely difficult to determine) as of September 30, 2010, March 31, 2010 and September 30, 2009 are ¥32,505 million, ¥176,931 million and ¥116,406 million, respectively.

(2) Bonds Held to Maturity

 

     (Millions of yen)  
     As of September 30, 2010      As of March 31, 2010      As of September 30, 2009  
     Book Value      Unrealized Gains/Losses      Unrealized Gains/Losses      Unrealized Gains/Losses  
               Gains      Losses             Gains      Losses             Gains      Losses  

Bonds Held to Maturity

      903,613         12,402         12,402         —           4,033         4,427         394         2,928         2,928         0   

Non-Consolidated

(1) Other Securities

Aggregated Figures of the 3 Banks

 

    (Millions of yen)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
    Book Value
(=Fair Value)		     Unrealized Gains/Losses     Unrealized Gains/Losses     Unrealized Gains/Losses  
            Gains     Losses           Gains     Losses           Gains     Losses  

Other Securities

     43,469,758        89,673        656,279        566,605        259,980        744,976        484,996        199,763        703,166        503,402   

Japanese Stocks

     2,581,284        59,239        363,542        304,302        299,474        519,332        219,857        288,606        515,376        226,770   

Japanese Bonds

     30,979,408        117,248        145,298        28,050        73,396        120,153        46,757        83,699        95,136        11,436   

Japanese Government Bonds

     27,195,800        78,559        80,354        1,795        59,744        69,072        9,328        84,636        87,342        2,705   

Other

     9,909,065        (86,813 )      147,438        234,252        (112,891 )      105,490        218,381        (172,542 )      92,653        265,195   

Foreign Bonds

     7,596,151        52,894        94,486        41,592        (4,219 )      51,782        56,002        (8,751 )      54,041        62,793   
Mizuho Bank                    

Other Securities

     19,453,324        (636 )      178,274        178,910        4,703        162,721        158,018        43,572        180,542        136,969   

Japanese Stocks

     687,030        (38,483 )      67,620        106,103        13,139        96,649        83,509        19,197        102,232        83,035   

Japanese Bonds

     15,683,681        48,880        73,407        24,526        19,131        51,686        32,554        48,861        56,046        7,184   

Japanese Government Bonds

     12,942,842        48,080        48,847        767        37,377        40,078        2,700        51,244        51,367        123   

Other

     3,082,612        (11,033 )      37,246        48,280        (27,568 )      14,385        41,953        (24,486 )      22,263        46,749   

Foreign Bonds

     1,887,554        6,395        17,242        10,846        (12,454 )      1,585        14,040        (3,163 )      12,798        15,962   
Mizuho Corporate Bank                    

Other Securities

     22,053,422        55,533        416,219        360,686        216,408        512,947        296,538        117,897        452,626        334,729   

Japanese Stocks

     1,708,673        68,713        253,923        185,210        239,283        364,862        125,578        220,183        353,697        133,513   

Japanese Bonds

     14,118,319        56,775        60,054        3,279        48,744        60,469        11,724        26,933        30,324        3,390   

Japanese Government Bonds

     13,116,714        19,207        20,225        1,017        16,229        21,471        5,241        25,824        27,586        1,762   

Other

     6,226,430        (69,955 )      102,241        172,197        (71,619 )      87,615        159,235        (129,220 )      68,604        197,824   

Foreign Bonds

     5,314,852        41,077        71,260        30,183        11,695        48,469        36,773        (2,057 )      39,900        41,958   
Mizuho Trust & Banking                    

Other Securities

     1,963,011        34,777        61,785        27,007        38,868        69,308        30,440        38,292        69,997        31,704   

Japanese Stocks

     185,580        29,009        41,997        12,988        47,051        57,820        10,769        49,225        59,446        10,221   

Japanese Bonds

     1,177,408        11,592        11,836        244        5,520        7,998        2,478        7,903        8,765        861   

Japanese Government Bonds

     1,136,243        11,270        11,281        10        6,137        7,523        1,385        7,567        8,387        820   

Other

     600,022        (5,824 )      7,950        13,774        (13,703 )      3,489        17,193        (18,836 )      1,785        20,621   

Foreign Bonds

     393,743        5,420        5,983        562        (3,461 )      1,726        5,187        (3,530 )      1,342        4,873   

 

* In addition to “Securities” indicated on the balance sheets, NCDs in “Cash and Due from Banks” and certain items in “Other Debt Purchased” are also included.
* Fair value of Japanese stocks with a quoted market price is determined based on the average quoted market price over the month preceding the balance sheet date.
   Fair value of securities other than Japanese stocks is determined at the quoted market price if available, or other reasonable value at the balance sheet date.
* The book values of Other Securities which have readily determinable fair value are stated at fair value, so Unrealized Gains/Losses indicate the difference between book values on the balance sheets and the acquisition costs.
* Unrealized Gains/Losses include ¥10,591 million, ¥29,345 million and ¥70,781 million, which were recognized in the statement of income for September 30, 2010, March 31, 2010 and September 30, 2009, respectively, by applying the fair-value hedge method and others.
   As a result, the base amounts to be recorded directly to Net Assets after tax adjustment as of September 30, 2010, March 31, 2010 and September 30, 2009 are ¥79,082 million, ¥230,635 million and ¥128,981 million, respectively.
* Unrealized Gains (Losses) on Other Securities, net of Taxes (recorded directly to Net Assets after tax adjustment, excluding the amount recognized in the statement of income by applying the fair-value hedge method and others, including translation differences regarding securities, the fair values of which are extremely difficult to determine) as of September 30, 2010, March 31, 2010 and September 30, 2009 are as follows:

 

     (Millions of yen)  
     As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  

Aggregated Figures

      22,076        161,736        104,721   

Mizuho Bank

      (16,891 )      (7,084 )      (402 ) 

Mizuho Corporate Bank

      12,483        137,595        74,851   

Mizuho Trust & Banking

      26,484        31,225        30,273   

 

3-13

 

(2) Bonds Held to Maturity

Aggregated Figures of the 3 Banks

 

     (Millions of yen)  
     As of September 30, 2010      As of March 31, 2010      As of September 30, 2009  
     Book Value      Unrealized Gains/Losses      Unrealized Gains/Losses      Unrealized Gains/Losses  
                   Gains      Losses             Gains      Losses             Gains      Losses  

Aggregated Figures

      900,697         12,391         12,391         —           4,019         4,413         394         2,914         2,914         —     

Mizuho Bank

      900,697         12,391         12,391         —           4,019         4,413         394         2,914         2,914         —     

Mizuho Corporate Bank

      —           —           —           —           —           —           —           —           —           —     

Mizuho Trust & Banking

      —           —           —           —           —           —           —           —           —           —     

(3) Investment in Subsidiaries and Affiliates

Aggregated Figures of the 3 Banks

 

    (Millions of yen)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
    Book Value     Unrealized Gains/Losses     Unrealized Gains/Losses     Unrealized Gains/Losses  
                Gains     Losses           Gains     Losses           Gains     Losses  

Aggregated Figures

     426,314        (189,704 )      —          189,704        (106,406 )      —          106,406        (32,651 )      —          32,651   

Mizuho Bank

     88,274        (34,339 )      —          34,339        (26,371 )      —          26,371        (23,238 )      —          23,238   

Mizuho Corporate Bank

     338,039        (155,364 )      —          155,364        (80,034 )      —          80,034        (9,412 )      —          9,412   

Mizuho Trust & Banking

     —          —          —          —          —          —          —          —          —          —     
Mizuho Financial Group, Inc. (Non-Consolidated)   

Investments in Subsidiaries and Affiliates

     137,171        108,730        108,730        —          178,808        178,808        —          224,278        224,278        —     

(Reference)

Unrealized Gains/Losses on Other Securities

(the base amount to be recorded directly to Net Assets after tax and other necessary adjustments)

For certain Other Securities, Unrealized Gains/Losses were recognized in the statement of income by applying the fair-value hedge method and others. They were excluded from Unrealized Gains (Losses) on Other Securities. These adjusted Unrealized Gains/Losses were the base amount, which was to be recorded directly to Net Assets after tax and other necessary adjustments.

The base amount was as follows:

Consolidated

 

      (Millions of yen)  
     As of
September 30,
2010		     As of
March 31,
2010		      As of
September 30,
2009		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		      Unrealized
Gains/Losses		  
           Change from
March 31,
2010		     Change from
September 30,
2009		       

Other Securities

      102,441        (165,242 )      (57,768 )      267,684         160,210   

Japanese Stocks

      86,813        (254,077 )      (235,594 )      340,890         322,408   

Japanese Bonds

      118,048        62,094        77,886        55,953         40,161   

Japanese Government Bonds

      79,372        32,612        33,085        46,759         46,287   

Other

      (102,419 )      26,739        99,940        (129,159 )       (202,359 ) 

Non-Consolidated

Aggregated Figures of the 3 Banks

 

      (Millions of yen)  
     As of
September 30,
2010		     As of
March 31,
2010		      As of
September 30,
2009		  
     Unrealized Gains/Losses     Unrealized
Gains/Losses		      Unrealized
Gains/Losses		  
           Change from
March 31,
2010		     Change from
September 30,
2009		       

Other Securities

      79,082        (151,552 )      (49,898 )      230,635         128,981   

Japanese Stocks

      59,239        (240,234 )      (229,366 )      299,474         288,606   

Japanese Bonds

      117,283        62,147        77,857        55,135         39,426   

Japanese Government Bonds

      78,594        32,621        33,031        45,973         45,563   

Other

      (97,441 )      26,534        101,610        (123,975 )       (199,051 ) 

 

3-14

 

6. Projected Redemption Amounts for Securities

 

  •  

The redemption schedule by term for Bonds Held to Maturity and Other Securities with maturities is as follows:

Non-Consolidated

Aggregated Figures of the 3 Banks

 

     (Billions of yen)  
     Maturity as of September 30, 2010      Change     Maturity as of March 31, 2010  
     Within
1 year		      1 - 5
years		      5 - 10
years		      Over
10 years		      Within
1 year		     1 - 5
years		     5 - 10
years		     Over
10 years		     Within
1 year		      1 - 5
years		      5 - 10
years		      Over
10 years		  

Japanese Bonds

      14,391.1         13,073.7         3,297.3         1,126.0         (1,455.9 )      522.6        1,178.4        (381.0 )      15,847.1         12,551.0         2,118.9         1,507.0   

Japanese Government Bonds

      13,774.3         11,003.2         2,950.5         368.4         (1,566.5 )      272.3        1,161.4        (419.3 )      15,340.8         10,730.8         1,789.0         787.7   

Japanese Local Government Bonds

      5.4         139.3         50.5         1.0         (10.3 )      45.8        3.9        0.0        15.8         93.4         46.5         0.9   

Japanese Corporate Bonds

      611.3         1,931.1         296.2         756.5         120.9        204.4        12.9        38.2        490.4         1,726.7         283.2         718.3   

Other

      1,066.9         4,375.0         1,287.8         2,307.5         (124.0 )      248.3        617.5        613.7        1,191.0         4,126.6         670.2         1,693.7   
Mizuho Bank   

Japanese Bonds

      6,506.6         8,096.7         1,328.7         660.4         (2,478.7 )      1,194.5        750.9        (299.2 )      8,985.4         6,902.2         577.7         959.7   

Japanese Government Bonds

      5,919.0         6,519.0         1,137.2         268.2         (2,626.8 )      970.4        722.9        (313.8 )      8,545.9         5,548.5         414.2         582.0   

Japanese Local Government Bonds

      3.6         128.5         37.8         —           (9.8 )      42.3        4.9        —          13.4         86.2         32.9         —     

Japanese Corporate Bonds

      584.0         1,449.1         153.5         392.2         157.9        181.7        23.0        14.5        426.0         1,267.3         130.5         377.6   

Other

      94.0         1,335.2         301.5         1,242.4         5.1        322.1        154.9        163.0        88.9         1,013.1         146.6         1,079.3   
Mizuho Corporate Bank   

Japanese Bonds

      7,666.5         4,627.8         1,382.3         441.5         942.1        (813.6 )      321.0        (14.8 )      6,724.3         5,441.5         1,061.3         456.3   

Japanese Government Bonds

      7,642.8         4,143.9         1,240.1         89.6         973.0        (844.9 )      332.4        (40.1 )      6,669.7         4,988.9         907.7         129.8   

Japanese Local Government Bonds

      0.4         10.3         10.9         1.0         (0.0 )      4.4        0.9        0.0        0.4         5.9         9.9         0.9   

Japanese Corporate Bonds

      23.2         473.4         131.2         350.7         (30.8 )      26.8        (12.3 )      25.2        54.0         446.6         143.6         325.4   

Other

      943.9         2,684.4         886.7         1,038.2         (114.7 )      (143.0 )      443.7        452.5        1,058.7         2,827.4         442.9         585.6   
Mizuho Trust & Banking   

Japanese Bonds

      217.9         349.0         586.2         24.0         80.6        141.7        106.4        (66.9 )      137.3         207.3         479.7         90.9   

Japanese Government Bonds

      212.4         340.1         573.1         10.5         87.2        146.8        106.0        (65.2 )      125.1         193.3         467.0         75.8   

Japanese Local Government Bonds

      1.3         0.3         1.7         —           (0.4 )      (0.9 )      (1.8 )      —          1.8         1.2         3.6         —     

Japanese Corporate Bonds

      4.1         8.5         11.4         13.5         (6.1 )      (4.1 )      2.2        (1.6 )      10.2         12.7         9.1         15.1   

Other

      28.9         355.2         99.5         26.8         (14.3 )      69.1        18.8        (1.8 )      43.3         286.0         80.6         28.6   

 

3-15

 

7. Overview of Derivative Transactions Qualifying for Hedge Accounting

Non-Consolidated

 

  •  

Notional Amounts of Interest Rate Swaps (qualifying for hedge accounting (deferred method)) by Remaining Contractual Term

Aggregated Figures of the 3 Banks

 

     (Billions of yen)  
     As of September 30, 2010      Change     As of March 31, 2010  
     Within
1 year		      1 - 5
years		      Over
5 years		      Total      Within
1 year		     1 - 5
years		     Over
5 years		     Total     Within
1 year		      1 - 5
years		      Over
5 years		      Total  

Receive Fixed / Pay Float

      9,486.4         14,225.9         3,633.0         27,345.4         2,797.8        1,673.8        772.2        5,243.9        6,688.6         12,552.0         2,860.8         22,101.4   

Receive Float / Pay Fixed

      1,167.4         1,938.8         1,634.7         4,741.1         150.8        68.6        130.8        350.4        1,016.6         1,870.1         1,503.9         4,390.7   

Receive Float / Pay Float

      1.0         154.8         30.0         185.8         0.0        —          —          0.0        0.9         154.8         30.0         185.7   

Receive Fixed / Pay Fixed

      —           —           —           —           —          —          —          —          —           —           —           —     
                                                                                                       

Total

      10,654.9         16,319.5         5,297.8         32,272.3         2,948.6        1,742.5        903.1        5,594.4        7,706.2         14,576.9         4,394.7         26,677.9   
Mizuho Bank   

Receive Fixed / Pay Float

      7,249.1         5,264.2         327.6         12,841.0         3,202.3        (17.7 )      (28.3 )      3,156.2        4,046.8         5,282.0         355.9         9,684.7   

Receive Float / Pay Fixed

      —           —           265.9         265.9         —          —          (121.0 )      (121.0 )      —           —           386.9         386.9   

Receive Float / Pay Float

      —           —           —           —           —          —          —          —          —           —           —           —     

Receive Fixed / Pay Fixed

      —           —           —           —           —          —          —          —          —           —           —           —     
                                                                                                       

Total

      7,249.1         5,264.2         593.5         13,106.9         3,202.3        (17.7 )      (149.3 )      3,035.2        4,046.8         5,282.0         742.8         10,071.6   
Mizuho Corporate Bank   

Receive Fixed / Pay Float

      2,237.3         8,941.6         3,150.4         14,329.3         (404.4 )      1,811.6        685.5        2,092.7        2,641.8         7,129.9         2,464.8         12,236.6   

Receive Float / Pay Fixed

      1,107.4         1,753.8         1,328.8         4,190.2         190.8        53.6        276.8        521.4        916.6         1,700.1         1,052.0         3,668.8   

Receive Float / Pay Float

      1.0         154.8         30.0         185.8         0.0        —          —          0.0        0.9         154.8         30.0         185.7   

Receive Fixed / Pay Fixed

      —           —           —           —           —          —          —          —          —           —           —           —     
                                                                                                       

Total

      3,345.8         10,850.2         4,509.3         18,705.4         (213.6 )      1,865.3        962.4        2,614.1        3,559.4         8,984.9         3,546.8         16,091.2   
Mizuho Trust & Banking   

Receive Fixed / Pay Float

      —           20.0         155.0         175.0         —          (120.0 )      115.0        (5.0 )      —           140.0         40.0         180.0   

Receive Float / Pay Fixed

      60.0         185.0         40.0         285.0         (40.0 )      15.0        (25.0 )      (50.0 )      100.0         170.0         65.0         335.0   

Receive Float / Pay Float

      —           —           —           —           —          —          —          —          —           —           —           —     

Receive Fixed / Pay Fixed

      —           —           —           —           —          —          —          —          —           —           —           —     
                                                                                                       

Total

      60.0         205.0         195.0         460.0         (40.0 )      (105.0 )      90.0        (55.0 )      100.0         310.0         105.0         515.0   

(Reference)

Deferred Hedge Gains/Losses of Derivative Transactions Qualifying for Hedge Accounting

 

     (Billions of yen)  
     As of September 30, 2010     Change     As of March 31, 2010  
     Deferred Hedge
Gains/Losses		     Deferred Hedge
Gains/Losses		     Deferred Hedge
Gains/Losses		  
     Gains      Losses            Gains     Losses           Gains      Losses         

Aggregated Figures

      927.0         579.9         347.1        75.7        (55.5 )      131.2        851.3         635.4         215.8   

Mizuho Bank

      72.9         54.6         18.2        (44.4 )      (33.3 )      (11.0 )      117.3         88.0         29.2   

Mizuho Corporate Bank

      785.2         449.5         335.7        113.0        (26.3 )      139.3        672.1         475.8         196.3   

Mizuho Trust & Banking

      68.9         75.7         (6.8 )      7.0        4.1        2.9        61.8         71.6         (9.7 ) 

 

Note: Above figures reflect all derivative transactions qualifying for hedge accounting, and are before net of applicable income taxes.

 

3-16

 

8. Employee Retirement Benefits

Non-Consolidated

Projected Benefit Obligations

Aggregated Figures of the 3 Banks

 

           (Millions of yen)  
           First Half of Fiscal 2010     Change     First Half of Fiscal 2009  

Projected Benefit Obligations (at the beginning of the fiscal year)

        1,079,671        (5,394 )      1,085,066   

Discount Rate (%)

      (A )      2.5        —          2.5   

Fair Value of Plan Assets (at the beginning of the fiscal year)

      (B )      1,215,125        216,614        998,511   

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

      (C )      371,720        (287,166 )      658,887   

Amount accumulated (amortized) during the period

       (37,034 )      9,686        (46,721 ) 

Prepaid Pension Cost (at the beginning of the fiscal year)

      (D )      507,174        (76,684 )      583,858   

Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

      (A)-(B)-(C)+(D )      —          (11,526 )      11,526   

Mizuho Bank

         

Projected Benefit Obligations (at the beginning of the fiscal year)

        636,141        (252 )      636,393   

Discount Rate (%)

      (A )      2.5        —          2.5   

Fair Value of Plan Assets (at the beginning of the fiscal year)

      (B )      712,361        127,975        584,386   

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

      (C )      238,312        (180,081 )      418,393   

Amount accumulated (amortized) during the period

       (23,818 )      6,020        (29,839 ) 

Prepaid Pension Cost (at the beginning of the fiscal year)

      (D )      314,532        (51,853 )      366,386   

Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

      (A)-(B)-(C)+(D )      —          —          —     

Mizuho Corporate Bank

         

Projected Benefit Obligations (at the beginning of the fiscal year)

        323,100        (4,630 )      327,730   

Discount Rate (%)

      (A )      2.5        —          2.5   

Fair Value of Plan Assets (at the beginning of the fiscal year)

      (B )      367,882        56,641        311,240   

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

      (C )      98,847        (79,765 )      178,613   

Amount accumulated (amortized) during the period

        (9,093 )      2,798        (11,892 ) 

Prepaid Pension Cost (at the beginning of the fiscal year)

      (D )      143,629        (18,493 )      162,123   

Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

      (A)-(B)-(C)+(D )      —          —          —     

Mizuho Trust & Banking

         

Projected Benefit Obligations (at the beginning of the fiscal year)

        120,430        (511 )      120,941   

Discount Rate (%)

      (A )      2.5        —          2.5   

Fair Value of Plan Assets (at the beginning of the fiscal year)

      (B )      134,881        31,997        102,884   

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

      (C )      34,560        (27,320 )      61,880   

Amount accumulated (amortized) during the period

        (4,122 )      867        (4,989 ) 

Prepaid Pension Cost (at the beginning of the fiscal year)

      (D )      49,011        (6,337 )      55,349   

Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

      (A)-(B)-(C)+(D )      —          (11,526 )      11,526   

 

3-17

 

Income (Expenses) related to Employee Retirement Benefits

Aggregated Figures of the 3 Banks

 

     (Millions of yen)  
     First Half of Fiscal 2010     Change     First Half of Fiscal 2009  

Service Cost

      (8,399 )      (161 )      (8,238 ) 

Interest Cost

      (13,495 )      67        (13,563 ) 

Expected Return on Plan Assets

      18,690        12,390        6,300   

Accumulation (Amortization) of Unrecognized Actuarial Differences

      (37,034 )      9,686        (46,721 ) 

Other

      (2,051 )      285        (2,337 ) 
                        

Total

      (42,291 )      22,268        (64,560 ) 

Mizuho Bank

       

Service Cost

      (5,413 )      (131 )      (5,281 ) 

Interest Cost

      (7,951 )      3        (7,954 ) 

Expected Return on Plan Assets

      9,153        7,493        1,660   

Accumulation (Amortization) of Unrecognized Actuarial Differences

      (23,818 )      6,020        (29,839 ) 

Other

      (1,473 )      189        (1,662 ) 
                        

Total

      (29,503 )      13,574        (43,077 ) 

Mizuho Corporate Bank

       

Service Cost

      (1,845 )      (3 )      (1,841 ) 

Interest Cost

      (4,038 )      57        (4,096 ) 

Expected Return on Plan Assets

      7,225        3,813        3,411   

Accumulation (Amortization) of Unrecognized Actuarial Differences

      (9,093 )      2,798        (11,892 ) 

Other

      (430 )      106        (537 ) 
                        

Total

      (8,183 )      6,773        (14,956 ) 

Mizuho Trust & Banking

       

Service Cost

      (1,141 )      (25 )      (1,115 ) 

Interest Cost

      (1,505 )      6        (1,511 ) 

Expected Return on Plan Assets

      2,311        1,083        1,228   

Accumulation (Amortization) of Unrecognized Actuarial Differences

      (4,122 )      867        (4,989 ) 

Other

      (147 )      (10 )      (137 ) 
                        

Total

      (4,604 )      1,921        (6,525 ) 

Consolidated

 

           (Millions of yen)  
           First Half of Fiscal 2010     Change     First Half of Fiscal 2009  

Projected Benefit Obligations (at the beginning of the fiscal year)

      (A )      1,200,969        44,301        1,156,667   

Fair Value of Plan Assets (at the beginning of the fiscal year)

      (B )      1,267,199        268,421        998,778   

Unrecognized Actuarial Differences (at the beginning of the fiscal year)

      (C )      384,665        (295,785 )      680,451   

Amount accumulated (amortized) during the period

        (38,132 )      9,967        (48,100 ) 

Prepaid Pension Cost (at the beginning of the fiscal year)

      (D )      485,159        (73,732 )      558,891   

Reserve for Employee Retirement Benefits (at the beginning of the fiscal year)

      (A)-(B)-(C)+(D )      34,263        (2,066 )      36,329   

Income (Expenses) related to Employee Retirement Benefits

        (49,524 )      21,786        (71,310 ) 

 

3-18

 

9. Capital Adequacy Ratio

Consolidated

Mizuho Financial Group

BIS Standard

 

     (%, Billions of yen)  
     As of September 30,  2010
(Preliminary)		     Change from
March 31, 2010		     As of
March 31, 2010		  

(1)    Capital Adequacy Ratio

      15.40        1.94        13.46   

Tier 1 Capital Ratio

      11.78        2.69        9.09   

(2)    Tier 1 Capital

      6,260.1       1,086.6       5,173.4  

Common Stock and Preferred Stock

      2,181.3        375.8        1,805.5   

Capital Surplus

      937.6        385.5        552.1   

Retained Earnings

      1,060.6        205.9        854.6   

Less: Treasury Stock

      3.1        (1.9 )      5.1   

Less: Dividends (estimate), etc.

      —          (134.9 )      134.9   

Less: Unrealized Losses on Other Securities

      —          —          —     

Foreign Currency Translation Adjustments

      (100.3 )      (7.7 )      (92.6 ) 

Minority Interests in Consolidated Subsidiaries

      2,279.7        (9.3 )      2,289.0   

Preferred Securities Issued by Overseas SPCs

     1,919.1        (18.7 )      1,937.8   

Other

      (95.6 )      (0.4 )      (95.1 ) 

(3)    Tier 2 Capital

      2,262.9        (462.4 )      2,725.4   

Tier 2 Capital Included as Qualifying Capital

     2,262.9        (462.4 )      2,725.4   

45% of Unrealized Gains on Other Securities

      48.4        (74.1 )      122.6   

45% of Revaluation Reserve for Land

      106.4        (0.3 )      106.7   

General Reserve for Possible Losses on Loans, etc.

      4.5        (0.8 )      5.4   

Debt Capital, etc.

      2,103.4        (387.0 )      2,490.5   

Perpetual Subordinated Debt and Other Debt Capital

     366.0        (220.3 )      586.3   

Dated Subordinated Debt and Redeemable Preferred Stock

     1,737.4        (166.7 )      1,904.2   

(4)    Deductions for Total Risk-based Capital

      342.4        101.5        240.8   

(5)    Total Risk-based Capital (2)+(3)-(4)

      8,180.7        522.6        7,658.0   

(6)    Risk-weighted Assets

      53,121.1        (3,742.0 )      56,863.2   

Credit Risk Assets

      48,297.1        (3,611.6 )      51,908.7   

On-balance-sheet Items

      39,658.3        (3,137.9 )      42,796.2   

Off-balance-sheet Items

      8,638.7        (473.6 )      9,112.4   

Market Risk Equivalent Assets

      1,335.3        37.3        1,297.9   

Operational Risk Equivalent Assets

      3,488.7        (167.7 )      3,656.5   

Adjusted Floor Amount

      —          —          —     

(Reference)

       

Prime Capital Ratio *

      8.10        2.48        5.62   

 

* Prime Capital (Tier1 Capital (2) - preferred securities - preferred stock (excluding mandatory convertible preferred stock)) divided by Risk-weighted Assets (6)

 

3-19

 

Mizuho Bank

Domestic Standard

 

     (%, Billions of yen)  
     As of September 30, 2010
(Preliminary)		      Change from
March 31, 2010		     As of
March 31, 2010		  

(1)    Capital Adequacy Ratio

      13.01         0.13        12.88   

Tier 1 Capital Ratio

      8.40         0.66        7.74   

(2)    Tier 1 Capital

      1,972.8         106.5        1,866.2   

(3)    Tier 2 Capital

      1,174.0         (132.4 )      1,306.5   

(4)    Deductions for Total Risk-based Capital

      90.5         22.2        68.2   

(5)    Total Risk-based Capital (2)+(3)-(4)

      3,056.4         (48.1 )      3,104.6   

(6)    Risk-weighted Assets

      23,482.6         (616.6 )      24,099.2   
Mizuho Corporate Bank   
BIS Standard   

(1)    Capital Adequacy Ratio

      17.15         1.15        16.00   

Tier 1 Capital Ratio

      14.38         1.81        12.57   

(2)    Tier 1 Capital

      4,128.3         214.0        3,914.2   

(3)    Tier 2 Capital

      926.9         (312.3 )      1,239.3   

(4)    Deductions for Total Risk-based Capital

      134.1         (36.1 )      170.3   

(5)    Total Risk-based Capital (2)+(3)-(4)

      4,921.1         (62.1 )      4,983.2   

(6)    Risk-weighted Assets

      28,694.0         (2,434.7 )      31,128.7   
Mizuho Trust & Banking   
BIS Standard   

(1)    Capital Adequacy Ratio

      16.88         1.15        15.73   

Tier 1 Capital Ratio

      11.21         1.14        10.07   

(2)    Tier 1 Capital

      291.0         10.0        280.9   

(3)    Tier 2 Capital

      155.2         (8.5 )      163.7   

(4)    Deductions for Total Risk-based Capital

      8.0         2.2        5.7   

(5)    Total Risk-based Capital (2)+(3)-(4)

      438.2         (0.7 )      438.9   

(6)    Risk-weighted Assets

      2,594.9         (194.9 )      2,789.9   
(Reference)        
Mizuho Bank        
BIS Standard        

(1)    Capital Adequacy Ratio

      12.91         0.08        12.83   

Tier 1 Capital Ratio

      8.32         0.63        7.69   

(2)    Tier 1 Capital

      1,962.1         95.8        1,866.2   

(3)    Tier 2 Capital

      1,174.0         (139.9 )      1,314.0   

(4)    Deductions for Total Risk-based Capital

      90.8         22.2        68.5   

(5)    Total Risk-based Capital (2)+(3)-(4)

      3,045.4         (66.3 )      3,111.7   

(6)    Risk-weighted Assets

      23,583.4         (656.1 )      24,239.6   

 

3-20

II. REVIEW OF CREDITS

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

 

  •  

The figures below are presented net of partial direct write-offs.

 

  •  

Treatment of accrued interest is based on the results of the self-assessment of assets.

(All loans to obligors classified in the self-assessment of assets as Bankrupt Obligors, Substantially Bankrupt Obligors, and Intensive Control Obligors are categorized as non-accrual loans.)

Consolidated

 

     (Millions of yen, %)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            %      Change from
March 31,
2010		     %      Change from
September 30,
2009		      %            %             %  

Loans to Bankrupt Obligors

      68,232         0.10         (8,645 )      (0.01 )       (33,801 )       (0.04 )      76,877         0.12         102,033         0.15   

Non-Accrual Delinquent Loans

      722,387         1.16         (18,368 )      (0.02 )       (112,538 )       (0.13 )      740,756         1.19         834,926         1.29   

Loans Past Due for 3 Months or More

      27,940         0.04         17,745        0.02         9,566         0.01        10,195         0.01         18,373         0.02   

Restructured Loans

      510,031         0.82         34,972        0.05         81,366         0.15        475,058         0.76         428,664         0.66   

Total

      1,328,591         2.14         25,703        0.04         (55,406 )       (0.01 )      1,302,887         2.09         1,383,997         2.15   

Total Loans

      62,069,897         100.00         (94,682 )         (2,197,386 )         62,164,579         100.00         64,267,283         100.00   

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

  

Amount of Partial Direct Write-offs

      422,437            (65,643 )         (76,472 )         488,081            498,910      

 

Trust Account

 

                            
     As of September 30, 2010     As of
March 31,  2010		          As of
September 30, 2009    		  
            %      Change from
March 31,
2010		     %      Change from
September 30,
2009		      %            %             %  

Loans to Bankrupt Obligors

      —           —           —          —           —           —          —           —           —           —     

Non-Accrual Delinquent Loans

      3,104         11.20         (8 )      0.52         (17 )       1.15        3,113         10.68         3,122         10.05   

Loans Past Due for 3 Months or More

      —           —           —          —           —           —          —           —           —           —     

Restructured Loans

      —           —           —          —           —           —          —           —           —           —     

Total

      3,104         11.20         (8 )      0.52         (17 )       1.15        3,113         10.68         3,122         10.05   

Total Loans

      27,701         100.00         (1,437 )         (3,350 )         29,138         100.00         31,051         100.00   

 

Consolidated + Trust Account

 

  

                   
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            %      Change from
March 31,
2010		     %      Change from
September 30,
2009		      %            %             %  

Loans to Bankrupt Obligors

      68,232         0.10         (8,645 )      (0.01 )       (33,801 )       (0.04 )      76,877         0.12         102,033         0.15   

Non-Accrual Delinquent Loans

      725,492         1.16         (18,377 )      (0.02 )       (112,556 )       (0.13 )      743,869         1.19         838,048         1.30   

Loans Past Due for 3 Months or More

      27,940         0.04         17,745        0.02         9,566         0.01        10,195         0.01         18,373         0.02   

Restructured Loans

      510,031         0.82         34,972        0.05         81,366         0.15        475,058         0.76         428,664         0.66   

Total

      1,331,696         2.14         25,694        0.04         (55,423 )       (0.01 )      1,306,001         2.09         1,387,120         2.15   

Total Loans

      62,097,598         100.00         (96,119 )         (2,200,737 )         62,193,718         100.00         64,298,335         100.00   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

3-21

 

Non-Consolidated

Aggregated Figures of the 3 Banks

(Banking Account + Trust Account)

 

     (Millions of yen, %)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            %      Change from
March 31,
2010		     %     Change from
September
30, 2009		     %            %             %  

Loans to Bankrupt Obligors

      65,581         0.10         (8,964 )      (0.01 )      (33,468 )      (0.04 )      74,546         0.11         99,050         0.15   

Non-Accrual Delinquent Loans

      711,365         1.14         (17,881 )      (0.02 )      (106,647 )      (0.12 )      729,247         1.17         818,012         1.27   

Loans Past Due for 3 Months or More

      27,940         0.04         17,745        0.02        9,566        0.01        10,195         0.01         18,373         0.02   

Restructured Loans

      417,131         0.67         (2,358 )      (0.00 )      17,050        0.04        419,490         0.67         400,081         0.62   

Total

      1,222,019         1.96         (11,458 )      (0.01 )      (113,498 )      (0.10 )      1,233,478         1.97         1,335,518         2.07   

Total Loans

      62,071,613         100.00         (238,743 )        (2,235,095 )        62,310,356         100.00         64,306,708         100.00   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      388,609            (64,836 )        (70,520 )        453,446            459,130      

 

Mizuho Bank

 

                          

Loans to Bankrupt Obligors

      40,067         0.12         (10,019 )      (0.03 )      (28,073 )      (0.08 )      50,087         0.15         68,141         0.20   

Non-Accrual Delinquent Loans

      504,432         1.51         (2,573 )      (0.04 )      (6,863 )      (0.01 )      507,005         1.56         511,295         1.53   

Loans Past Due for 3 Months or More

      27,266         0.08         18,132        0.05        9,531        0.02        9,134         0.02         17,735         0.05   

Restructured Loans

      250,696         0.75         3,100        (0.00 )      18,142        0.05        247,596         0.76         232,554         0.69   

Total

      822,464         2.47         8,639        (0.03 )      (7,263 )      (0.01 )      813,824         2.50         829,727         2.49   

Total Loans

      33,279,008         100.00         811,361          (26,970 )        32,467,647         100.00         33,305,979         100.00   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      236,979            (38,579 )        (48,027 )        275,559            285,007      

 

Mizuho Corporate Bank

 

  

Loans to Bankrupt Obligors

      21,874         0.08         1,091        0.00        1,045        0.00        20,782         0.07         20,828         0.07   

Non-Accrual Delinquent Loans

      169,587         0.66         (21,627 )      (0.05 )      (100,077 )      (0.31 )      191,215         0.72         269,665         0.98   

Loans Past Due for 3 Months or More

      —           —           —          —          —          —          —           —           —           —     

Restructured Loans

      150,798         0.59         (8,158 )      (0.01 )      2,287        0.05        158,957         0.60         148,511         0.54   

Total

      342,261         1.34         (28,694 )      (0.06 )      (96,744 )      (0.25 )      370,955         1.40         439,005         1.60   

Total Loans

      25,426,700         100.00         (928,949 )        (1,926,220 )        26,355,649         100.00         27,352,921         100.00   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      134,776            (24,065 )        (17,574 )        158,841            152,351      

 

Mizuho Trust & Banking

  

(Banking Account)

 

  

Loans to Bankrupt Obligors

      3,639         0.10         (36 )      0.00        (6,440 )      (0.16 )      3,675         0.10         10,079         0.27   

Non-Accrual Delinquent Loans

      34,240         1.02         6,328        0.21        311        0.08        27,912         0.80         33,929         0.93   

Loans Past Due for 3 Months or More

      673         0.02         (386 )      (0.01 )      35        0.00        1,060         0.03         638         0.01   

Restructured Loans

      15,636         0.46         2,699        0.09        (3,379 )      (0.05 )      12,936         0.37         19,015         0.52   

Total

      54,190         1.62         8,604        0.30        (9,473 )      (0.13 )      45,585         1.31         63,663         1.76   

Total Loans

      3,338,203         100.00         (119,718 )        (278,552 )        3,457,921         100.00         3,616,756         100.00   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      16,853            (2,192 )        (4,918 )        19,045            21,771      

 

(Trust Account)

 

                          

Loans to Bankrupt Obligors

      —           —           —          —          —          —          —           —           —           —     

Non-Accrual Delinquent Loans

      3,104         11.20         (8 )      0.52        (17 )      1.15        3,113         10.68         3,122         10.05   

Loans Past Due for 3 Months or More

      —           —           —          —          —          —          —           —           —           —     

Restructured Loans

      —           —           —          —          —          —          —           —           —           —     

Total

      3,104         11.20         (8 )      0.52        (17 )      1.15        3,113         10.68         3,122         10.05   

Total Loans

      27,701         100.00         (1,437 )        (3,350 )        29,138         100.00         31,051         100.00   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

3-22

 

2. Status of Reserves for Possible Losses on Loans

Consolidated

 

     (Millions of yen)  
     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31,
2010		     Change from
September 30,
2009		       

Reserves for Possible Losses on Loans

      843,664         (43,408 )      (98,398 )      887,073         942,063   

General Reserve for Possible Losses on Loans

      533,299         (30,543 )      (51,265 )      563,843         584,565   

Specific Reserve for Possible Losses on Loans

      310,355         (12,685 )      (46,726 )      323,040         357,082   

Reserve for Possible Losses on Loans to Restructuring Countries

      9         (179 )      (406 )      188         415   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      497,241         (71,162 )      (80,703 )      568,404         577,944   

 

Non-Consolidated

             

 

Aggregated Figures of the 3 Banks

 

             
     (Millions of yen)  
     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31,
2010		     Change from
September 30,
2009		       

Reserves for Possible Losses on Loans

      721,634         (53,894 )      (116,020 )      775,529         837,655   

General Reserve for Possible Losses on Loans

      496,588         (35,029 )      (57,137 )      531,617         553,725   

Specific Reserve for Possible Losses on Loans

      225,037         (18,685 )      (58,477 )      243,723         283,514   

Reserve for Possible Losses on Loans to Restructuring Countries

      9         (179 )      (406 )      188         415   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      462,454         (70,011 )      (73,949 )      532,465         536,404   

 

Mizuho Bank

 

             

Reserves for Possible Losses on Loans

      415,501         (25,386 )      (49,439 )      440,887         464,940   

General Reserve for Possible Losses on Loans

      303,052         (16,341 )      (29,332 )      319,394         332,385   

Specific Reserve for Possible Losses on Loans

      112,448         (9,044 )      (20,106 )      121,493         132,555   

Reserve for Possible Losses on Loans to Restructuring Countries

      —           —          —          —           —     

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      294,016         (42,263 )      (51,360 )      336,280         345,376   

 

Mizuho Corporate Bank

 

             

Reserves for Possible Losses on Loans

      284,231         (27,519 )      (61,335 )      311,750         345,566   

General Reserve for Possible Losses on Loans

      175,670         (18,183 )      (26,676 )      193,853         202,347   

Specific Reserve for Possible Losses on Loans

      108,551         (9,156 )      (34,253 )      117,708         142,804   

Reserve for Possible Losses on Loans to Restructuring Countries

      9         (178 )      (406 )      188         415   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      146,706         (25,432 )      (19,006 )      172,139         165,713   

 

Mizuho Trust & Banking

 

             

Reserves for Possible Losses on Loans

      21,902         (989 )      (5,245 )      22,891         27,148   

General Reserve for Possible Losses on Loans

      17,865         (504 )      (1,128 )      18,370         18,993   

Specific Reserve for Possible Losses on Loans

      4,037         (484 )      (4,117 )      4,521         8,154   

Reserve for Possible Losses on Loans to Restructuring Countries

      0         (0 )      0        0         0   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      21,731         (2,315 )      (3,582 )      24,046         25,313   

 

* Reserve for Indemnification of Impairment and Reserve for Possible Losses on Entrusted Loans (¥211 million, ¥269 million and ¥336 million for September 30, 2010, March 31, 2010 and September 30, 2009, respectively) are not included in the above figures for Trust Account.

 

3-23

 

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

Consolidated

 

     (%)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Mizuho Financial Group

      63.50         (4.58 )      (4.56 )      68.08         68.06   

 

* Above figures are presented net of partial direct write-offs.

Non-Consolidated

 

     (%)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Total

      59.20         (3.82 )      (3.66 )      63.03         62.86   

Mizuho Bank

      50.51         (3.65 )      (5.51 )      54.17         56.03   

Mizuho Corporate Bank

      83.04         (0.99 )      4.32        84.03         78.71   

Mizuho Trust & Banking (Banking Account)

      40.41         (9.79 )      (2.22 )      50.21         42.64   

 

* Above figures are presented net of partial direct write-offs.

 

3-24

 

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

Consolidated

 

     (Millions of yen)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Claims against Bankrupt and Substantially Bankrupt Obligors

      259,285         (13,826 )      (38,688 )      273,112         297,974   

Claims with Collection Risk

      616,730         (17,065 )      (122,722 )      633,795         739,453   

Claims for Special Attention

      538,070         52,698        90,804        485,371         447,265   

Total

      1,414,086         21,806        (70,607 )      1,392,279         1,484,693   

 

Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

 

  

Amount of Partial Direct Write-offs

      491,988         (70,893 )      (81,613 )      562,881         573,602   

 

Trust Account

 

  

     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Claims against Bankrupt and Substantially Bankrupt Obligors

      —           —          —          —           —     

Claims with Collection Risk

      3,104         (8 )      (17 )      3,113         3,122   

Claims for Special Attention

      —           —          —          —           —     

Total

      3,104         (8 )      (17 )      3,113         3,122   

 

Consolidated + Trust Account

 

  

     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Claims against Bankrupt and Substantially Bankrupt Obligors

      259,285         (13,826 )      (38,688 )      273,112         297,974   

Claims with Collection Risk

      619,835         (17,074 )      (122,740 )      636,909         742,575   

Claims for Special Attention

      538,070         52,698        90,804        485,371         447,265   

Total

      1,417,190         21,797        (70,624 )      1,395,393         1,487,815   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

3-25

 

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

    (Millions of yen, %)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
          %     Change from
March 31,
2010		     %     Change from
September 30,
2009		     %           %           %  

Claims against Bankrupt and Substantially Bankrupt Obligors

     245,813        0.35        (12,285 )      (0.01 )      (32,945 )      (0.03 )      258,098        0.37        278,758        0.39   

Claims with Collection Risk

     611,095        0.89        (20,937 )      (0.02 )      (122,672 )      (0.13 )      632,032        0.91        733,767        1.03   

Claims for Special Attention

     445,170        0.65        15,367        0.02        26,488        0.06        429,802        0.62        418,682        0.58   

Sub-total

     1,302,079        1.90        (17,855 )      (0.00 )      (129,129 )      (0.10 )      1,319,934        1.91        1,431,208        2.01   

Normal Claims

     66,983,611        98.09        (629,798 )      0.00        (2,577,633 )      0.10        67,613,410        98.08        69,561,244        97.98   

Total

     68,285,691        100.00        (647,653 )        (2,706,762 )        68,933,345        100.00        70,992,453        100.00   
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.   

Amount of Partial Direct Write-offs

     457,754          (69,879 )        (75,166 )        527,633          532,921     

 

Mizuho Bank

 

  

Claims against Bankrupt and Substantially Bankrupt Obligors

     180,577        0.50        (9,209 )      (0.03 )      (19,538 )      (0.05 )      189,787        0.54        200,115        0.56   

Claims with Collection Risk

     398,359        1.12        (4,872 )      (0.03 )      (21,946 )      (0.05 )      403,232        1.15        420,305        1.17   

Claims for Special Attention

     277,963        0.78        21,232        0.04        27,673        0.08        256,730        0.73        250,289        0.70   

Sub-total

    856,900        2.41        7,150        (0.02 )      (13,810 )      (0.02 )      849,750        2.44        870,711        2.44   

Normal Claims

     34,637,445        97.58        719,545        0.02        (161,930 )      0.02        33,917,899        97.55        34,799,375        97.55   

Total

     35,494,345        100.00        726,696          (175,741 )        34,767,649        100.00        35,670,087        100.00   
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.   

Amount of Partial Direct Write-offs

     294,016          (42,263 )        (51,250 )        336,280          345,267     

 

Mizuho Corporate Bank

 

  

                  

Claims against Bankrupt and Substantially Bankrupt Obligors

     30,886        0.10        1,450        0.00        (3,000 )      (0.00 )      29,436        0.09        33,887        0.10   

Claims with Collection Risk

     178,530        0.60        (26,636 )      (0.06 )      (104,609 )      (0.28 )      205,166        0.67        283,139        0.89   

Claims for Special Attention

     150,798        0.51        (8,158 )      (0.00 )      2,287        0.04        158,957        0.52        148,511        0.47   

Sub-total

    360,215        1.22        (33,344 )      (0.05 )      (105,322 )      (0.24 )      393,560        1.28        465,538        1.47   

Normal Claims

     28,953,926        98.77        (1,218,363 )      0.05        (2,143,950 )      0.24        30,172,289        98.71        31,097,877        98.52   

Total

    29,314,141        100.00        (1,251,707 )        (2,249,273 )        30,565,849        100.00        31,563,415        100.00   
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.   

Amount of Partial Direct Write-offs

     146,706          (25,422 )        (18,996 )        172,129          165,703     

 

Mizuho Trust & Banking

(Banking Account)

 

  

  

Claims against Bankrupt and Substantially Bankrupt Obligors

    34,349        0.99        (4,525 )      (0.09 )      (10,406 )      (0.20 )      38,875        1.08        44,755        1.20   

Claims with Collection Risk

    31,100        0.90        10,580        0.32        3,900        0.17        20,520        0.57        27,199        0.72   

Claims for Special Attention

    16,408        0.47        2,292        0.08        (3,472 )      (0.05 )      14,115        0.39        19,880        0.53   

Sub-total

    81,858        2.37        8,347        0.31        (9,978 )      (0.09 )      73,511        2.05        91,836        2.46   

Normal Claims

    3,367,643        97.62        (129,552 )      (0.31 )      (268,418 )      0.09        3,497,196        97.94        3,636,062        97.53   

Total

    3,449,502        100.00        (121,205 )        (278,396 )        3,570,707        100.00        3,727,899        100.00   
Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.   

Amount of Partial Direct Write-offs

    17,031          (2,192 )        (4,919 )        19,224          21,950     

 

(Trust Account)

 

                    

Claims against Bankrupt and Substantially Bankrupt Obligors

     —          —          —          —          —          —          —          —          —          —     

Claims with Collection Risk

     3,104        11.20        (8 )      0.52        (17 )      1.15        3,113        10.68        3,122        10.05   

Claims for Special Attention

     —          —          —          —          —          —          —          —          —          —     

Sub-total

    3,104        11.20        (8 )      0.52        (17 )      1.15        3,113        10.68        3,122        10.05   

Normal Claims

     24,596        88.79        (1,428 )      (0.52 )      (3,333 )      (1.15 )      26,025        89.31        27,929        89.94   

Total

     27,701        100.00        (1,437 )        (3,350 )        29,138        100.00        31,051        100.00   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

3-26

 

5. Coverage on Disclosed Claims under the FRL

Non-Consolidated

(1) Disclosed Claims under the FRL and Coverage Amount

Aggregated Figures of the 3 Banks (Banking Account)

 

     (Billions of yen)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Claims against Bankrupt and Substantially Bankrupt Obligors

      245.8         (12.2 )      (32.9 )      258.0         278.7   

Collateral, Guarantees, and equivalent

      222.5         (12.8 )      (28.8 )      235.3         251.3   

Reserve for Possible Losses

      23.2         0.5        (4.1 )      22.7         27.4   

Claims with Collection Risk

      607.9         (20.9 )      (122.6 )      628.9         730.6   

Collateral, Guarantees, and equivalent

      315.1         2.0        (14.4 )      313.1         329.6   

Reserve for Possible Losses

      209.1         (18.4 )      (52.2 )      227.6         261.4   

Claims for Special Attention

      445.1         15.3        26.4        429.8         418.6   

Collateral, Guarantees, and equivalent

      106.8         (7.3 )      2.3        114.1         104.4   

Reserve for Possible Losses

      103.6         1.0        4.7        102.6         98.8   

Total

     1,298.9         (17.8 )      (129.1 )      1,316.8         1,428.0   

Collateral, Guarantees, and equivalent

      644.4         (18.1 )      (40.8 )      662.6         685.3   

Reserve for Possible Losses

      336.1         (16.8 )      (51.6 )      353.0         387.7   

 

Mizuho Bank

 

 

Claims against Bankrupt and Substantially Bankrupt Obligors

      180.5         (9.2 )      (19.5 )      189.7         200.1   

Collateral, Guarantees, and equivalent

      174.2         (9.0 )      (17.7 )      183.2         191.9   

Reserve for Possible Losses

      6.3         (0.1 )      (1.8 )      6.5         8.1   

Claims with Collection Risk

      398.3         (4.8 )      (21.9 )      403.2         420.3   

Collateral, Guarantees, and equivalent

      235.5         2.7        8.9        232.7         226.6   

Reserve for Possible Losses

      106.0         (8.9 )      (18.2 )      114.9         124.3   

Claims for Special Attention

      277.9         21.2        27.6        256.7         250.2   

Collateral, Guarantees, and equivalent

      76.9         2.2        4.9        74.6         72.0   

Reserve for Possible Losses

      62.4         1.1        1.5        61.2         60.8   

Total

     856.9         7.1        (13.8 )      849.7         870.7   

Collateral, Guarantees, and equivalent

      486.6         (4.0 )      (3.9 )      490.7         490.5   

Reserve for Possible Losses

      174.8         (7.9 )      (18.5 )      182.7         193.3   

 

Mizuho Corporate Bank

 

 

Claims against Bankrupt and Substantially Bankrupt Obligors

      30.8         1.4        (3.0 )      29.4         33.8   

Collateral, Guarantees, and equivalent

      26.1         0.6        (2.1 )      25.4         28.2   

Reserve for Possible Losses

      4.7         0.8        (0.8 )      3.9         5.6   

Claims with Collection Risk

      178.5         (26.6 )      (104.6 )      205.1         283.1   

Collateral, Guarantees, and equivalent

      54.6         (11.9 )      (30.5 )      66.5         85.2   

Reserve for Possible Losses

      99.4         (9.1 )      (31.6 )      108.5         131.0   

Claims for Special Attention

      150.7         (8.1 )      2.2        158.9         148.5   

Collateral, Guarantees, and equivalent

      24.8         (9.5 )      0.7        34.4         24.1   

Reserve for Possible Losses

      38.6         (0.5 )      4.0        39.1         34.6   

Total

     360.2         (33.3 )      (105.3 )      393.5         465.5   

Collateral, Guarantees, and equivalent

      105.6         (20.9 )      (31.8 )      126.5         137.5   

Reserve for Possible Losses

      142.8         (8.8 )      (28.4 )      151.6         171.3   

 

Mizuho Trust & Banking

 

(Banking Account)

 

  

  

Claims against Bankrupt and Substantially Bankrupt Obligors

      34.3         (4.5 )      (10.4 )      38.8         44.7   

Collateral, Guarantees, and equivalent

      22.2         (4.4 )      (8.9 )      26.6         31.1   

Reserve for Possible Losses

      12.1         (0.1 )      (1.4 )      12.2         13.5   

Claims with Collection Risk

      31.1         10.5        3.9        20.5         27.1   

Collateral, Guarantees, and equivalent

      24.9         11.2        7.1        13.7         17.7   

Reserve for Possible Losses

      3.6         (0.4 )      (2.3 )      4.0         6.0   

Claims for Special Attention

      16.4         2.2        (3.4 )      14.1         19.8   

Collateral, Guarantees, and equivalent

      4.9         0.0        (3.3 )      4.9         8.2   

Reserve for Possible Losses

      2.6         0.3        (0.7 )      2.2         3.4   

Total

     81.8         8.3        (9.9 )      73.5         91.8   

Collateral, Guarantees, and equivalent

      52.1         6.8        (5.0 )      45.3         57.2   

Reserve for Possible Losses

      18.4         (0.1 )      (4.5 )      18.5         23.0   

 

(Reference) Trust Account

 

  

Claims against Bankrupt and Substantially Bankrupt Obligors

      —           —          —          —           —     

Collateral, Guarantees, and equivalent

      —           —          —          —           —     

Claims with Collection Risk

      3.1         (0.0 )      (0.0 )      3.1         3.1   

Collateral, Guarantees, and equivalent

      3.1         (0.0 )      (0.0 )      3.1         3.1   

Claims for Special Attention

      —           —          —          —           —     

Collateral, Guarantees, and equivalent

      —           —          —          —           —     

Total

     3.1         (0.0 )      (0.0 )      3.1         3.1   

Collateral, Guarantees, and equivalent

      3.1         (0.0 )      (0.0 )      3.1         3.1   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

3-27

 

(2) Coverage Ratio

Aggregated Figures of the 3 Banks (Banking Account)

 

     (Billions of yen)  
     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Coverage Amount

      980.6         (35.0 )      (92.5 )      1,015.6         1,073.1   

Reserves for Possible Losses on Loans

      336.1         (16.8 )      (51.6 )      353.0         387.7   

Collateral, Guarantees, and equivalent

      644.4         (18.1 )      (40.8 )      662.6         685.3   
     (%)  

Coverage Ratio

      75.5         (1.6 )      0.3        77.1         75.1   

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      86.2         0.2        5.3        85.9         80.8   

Claims for Special Attention

      47.2         (3.1 )      (1.2 )      50.4         48.5   

Claims against Special Attention Obligors

      49.5         (3.4 )      (0.5 )      52.9         50.0   

Reserve Ratio against Non-collateralized Claims

  

       
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      71.4         (0.6 )      6.2        72.0         65.1   

Claims for Special Attention

      30.6         (1.8 )      (0.8 )      32.5         31.4   

Claims against Special Attention Obligors

      32.0         (2.1 )      (1.0 )      34.1         33.0   

(Reference) Reserve Ratio

             
     (%)  

Claims against Special Attention Obligors

      23.76         (0.65 )      (0.88 )      24.41         24.64   

Claims against Watch Obligors excluding Special Attention Obligors

      4.18         (0.41 )      (0.55 )      4.60         4.74   

Claims against Normal Obligors

      0.22         0.00        (0.00 )      0.21         0.23   
Mizuho Bank             
     (Billions of yen)  

Coverage Amount

      661.4         (11.9 )      (22.4 )      673.4         683.9   

Reserves for Possible Losses on Loans

      174.8         (7.9 )      (18.5 )      182.7         193.3   

Collateral, Guarantees, and equivalent

      486.6         (4.0 )      (3.9 )      490.7         490.5   
     (%)  

Coverage Ratio

      77.1         (2.0 )      (1.3 )      79.2         78.5   

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      85.7         (0.4 )      2.2        86.2         83.4   

Claims for Special Attention

      50.1         (2.8 )      (2.9 )      52.9         53.0   

Claims against Special Attention Obligors

      52.2         (3.2 )      (1.5 )      55.5         53.8   

Reserve Ratio against Non-collateralized Claims

  

       
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      65.1         (2.3 )      0.9        67.4         64.1   

Claims for Special Attention

      31.0         (2.5 )      (3.0 )      33.6         34.1   

Claims against Special Attention Obligors

      31.7         (2.9 )      (2.6 )      34.6         34.3   

(Reference) Reserve Ratio

             
     (%)  

Claims against Special Attention Obligors

      22.15         (1.45 )      (2.02 )      23.60         24.17   

Claims against Watch Obligors excluding Special Attention Obligors

      4.13         (0.51 )      (0.80 )      4.65         4.94   

Claims against Normal Obligors

      0.26         0.00        (0.01 )      0.25         0.27   
Mizuho Corporate Bank             
     (Billions of yen)  

Coverage Amount

      248.5         (29.7 )      (60.3 )      278.2         308.8   

Reserves for Possible Losses on Loans

      142.8         (8.8 )      (28.4 )      151.6         171.3   

Collateral, Guarantees, and equivalent

      105.6         (20.9 )      (31.8 )      126.5         137.5   
     (%)  

Coverage Ratio

      68.9         (1.7 )      2.6        70.6         66.3   

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      86.3         0.9        9.9        85.3         76.3   

Claims for Special Attention

      42.1         (4.2 )      2.5        46.3         39.5   

Claims against Special Attention Obligors

      45.9         (3.7 )      2.2        49.6         43.7   

Reserve Ratio against Non-collateralized Claims

  

       
     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      80.2         1.9        14.0        78.3         66.2   

Claims for Special Attention

      30.6         (0.7 )      2.8        31.4         27.8   

Claims against Special Attention Obligors

      33.6         (0.9 )      1.8        34.5         31.8   

(Reference) Reserve Ratio

             
     (%)  

Claims against Special Attention Obligors

      27.43         0.84        1.17        26.59         26.26   

Claims against Watch Obligors excluding Special Attention Obligors

      4.25         (0.25 )      (0.19 )      4.51         4.45   

Claims against Normal Obligors

      0.18         0.00        (0.00 )      0.17         0.18   

 

3-28

 

Mizuho Trust & Banking (Banking Account)

 

     (Billions of yen)  
     As of September 30, 2010     As of
March 31, 2010		      As of
September 30, 2009		  
            Change from
March 31, 2010		     Change from
September 30, 2009		       

Coverage Amount

      70.6         6.6        (9.6 )      63.9         80.3   

Reserves for Possible Losses on Loans

      18.4         (0.1 )      (4.5 )      18.5         23.0   

Collateral, Guarantees, and equivalent

      52.1         6.8        (5.0 )      45.3         57.2   
     (%)  

Coverage Ratio

      86.3         (0.7 )      (1.1 )      87.0         87.4   

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      92.1         5.2        4.5        86.9         87.6   

Claims for Special Attention

      46.5         (4.7 )      (12.4 )      51.3         59.0   

Claims against Special Attention Obligors

      42.3         (2.5 )      (10.7 )      44.8         53.0   

Reserve Ratio against Non-collateralized Claims

  

     (%)  

Claims against Bankrupt and Substantially Bankrupt Obligors

      100.0         —          —          100.0         100.0   

Claims with Collection Risk

      60.1         (0.2 )      (4.0 )      60.4         64.1   

Claims for Special Attention

      23.2         (1.6 )      (6.4 )      24.8         29.6   

Claims against Special Attention Obligors

      22.1         (0.8 )      (4.8 )      22.9         27.0   

(Reference) Reserve Ratio

  

     (%)  

Claims against Special Attention Obligors

      16.36         (0.01 )      (1.00 )      16.38         17.37   

Claims against Watch Obligors excluding Special Attention Obligors

      4.33         (0.37 )      (0.25 )      4.71         4.58   

Claims against Normal Obligors

      0.23         0.02        0.01        0.21         0.21   

 

3-29

 

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

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account)

LOGO

 

Notes: 1. Claims for Special Attention is denoted on an individual loans basis. Claims against Special Attention Obligors includes     all claims, not limited to Claims for Special Attention.

 

                  2. The difference between total Non-Accrual, Past Due & Restructured Loans and total Disclosed Claims under the FRL represents the amount of claims other than loans included in Disclosed Claims under the FRL.

 

3-30

 

7. Results of Removal of NPLs from the Balance Sheet

Non-Consolidated

(1) Outstanding Balance of Claims against Bankrupt and Substantially Bankrupt Obligors and Claims with Collection Risk (under the FRL)

Aggregated Figures of the 3 Banks (including past figures for their former revitalization subsidiaries) (Banking Account + Trust Account)

 

    (Billions of yen)  
    Fiscal 2007     Fiscal 2008     Fiscal 2009     Fiscal 2010  
    Up to First
Half of
Fiscal 2007		     As of
March 31,
2008		     As of
September 30,
2008		     As of
March 31,
2009		     As of
September 30,
2009		     As of
March 31,
2010		     As of September 30, 2010  
              Mizuho
Bank		     Mizuho
Corporate
Bank		     Mizuho
Trust &
Banking		     Aggregated
Figures of the
3 Banks		     Change from
March 31,
2010		  
                     

Claims against Bankrupt and Substantially Bankrupt Obligors

     2,460.1        102.5        88.5        80.0        71.4        68.3        32.8        6.0        27.8        66.6        (1.7 ) 

Claims with Collection Risk

     8,346.0        213.3        162.8        132.8        110.6        94.0        67.7        7.2        4.5        79.6        (14.4 ) 

Amount Categorized as above up to First Half of Fiscal 2007

     10,806.2        315.8        251.4        212.9        182.1        162.4        100.6        13.2        32.3        146.2        (16.1 ) 

of which the amount which was in the process of being removed from the balance sheet

     1,091.7        58.7        47.4        38.8        34.4        29.9        24.9        4.4        0.1        29.6        (0.3 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

       34.7        36.2        34.3        30.5        18.4        11.9        3.0        0.0        15.0        (3.4 ) 

Claims with Collection Risk

       162.1        82.1        42.8        27.8        19.4        15.9        0.6        0.4        17.0        (2.4 ) 

Amount Newly Categorized as above during the Second Half of Fiscal 2007

       196.9        118.3        77.1        58.3        37.8        27.8        3.6        0.5        32.0        (5.8 ) 

of which the amount which was in the process of being removed from the balance sheet

       31.2        31.1        31.5        26.9        16.4        9.9        3.0        0.0        13.1        (3.3 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

         80.4        67.5        50.7        36.8        28.2        —          0.6        28.8        (7.9 ) 

Claims with Collection Risk

         189.7        85.3        65.0        34.3        20.3        0.0        0.6        21.0        (13.2 ) 

Amount Newly Categorized as above during the First Half of Fiscal 2008

         270.1        152.9        115.8        71.2        48.6        0.0        1.2        49.9        (21.2 ) 

of which the amount which was in the process of being removed from the balance sheet

         75.7        61.3        44.8        30.1        25.6        —          0.6        26.2        (3.8 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

           126.8        82.2        61.9        32.1        12.9        1.0        46.2        (15.7 ) 

Claims with Collection Risk

           336.9        184.7        100.0        47.1        13.1        1.7        62.1        (37.8 ) 

Amount Newly Categorized as above during the Second Half of Fiscal 2008

           463.8        267.0        161.9        79.3        26.1        2.8        108.3        (53.6 ) 

of which the amount which was in the process of being removed from the balance sheet

           96.5        72.6        55.7        29.3        10.3        1.0        40.7        (14.9 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

             43.6        36.6        22.8        7.2        2.1        32.2        (4.4 ) 

Claims with Collection Risk

             345.3        210.7        51.4        111.7        2.8        166.0        (44.6 ) 

Amount Newly Categorized as above during the First Half of Fiscal 2009

             389.0        247.4        74.2        119.0        5.0        198.3        (49.0 ) 

of which the amount which was in the process of being removed from the balance sheet

             39.2        31.5        21.6        5.1        2.1        28.9        (2.5 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

               35.7        22.2        1.2        1.3        24.8        (10.8 ) 

Claims with Collection Risk

               173.4        87.3        28.1        9.0        124.4        (48.9 ) 

Amount Newly Categorized as above during the Second Half of Fiscal 2009

               209.1        109.5        29.3        10.4        149.3        (59.8 ) 

of which the amount which was in the process of being removed from the balance sheet

               32.0        20.5        0.1        1.3        21.9        (10.0 ) 

Claims against Bankrupt and Substantially Bankrupt Obligors

                 30.3        0.3        1.2        31.9        31.9   

Claims with Collection Risk

                 108.3        17.5        14.8        140.6        140.6   

Amount Newly Categorized as above during the First Half of Fiscal 2010

                 138.6        17.8        16.0        172.5        172.5   

of which the amount which was in the process of being removed from the balance sheet

                 27.5        —          1.2        28.8        28.8   

Claims against Bankrupt and Substantially Bankrupt Obligors

       137.3        205.3        308.7        278.7        258.0        180.5        30.8        34.3        245.8        (12.2 ) 

Claims with Collection Risk

       375.5        434.7        598.0        733.7        632.0        398.3        178.5        34.2        611.0        (20.9 ) 

Total

       512.8        640.0        906.8        1,012.5        890.1        578.9        209.4        68.5        856.9        (33.2 ) 

of which the amount which was in the process of being removed from the balance sheet

       89.9        154.3        228.3        218.1        195.8        159.7        23.0        6.7        189.4        (6.4 ) 

 

*    Trust account denotes trust accounts with contracts indemnifying the principal amounts.
*      Bold denotes newly categorized amounts.

(2) Progress in Removal of NPLs from the Balance Sheet (Accumulated Removal Amount and Removal Ratio)

Aggregated Figures of the 3 Banks (including past figures for their former revitalization subsidiaries) (Banking Account + Trust Account)

 

     (Billions of yen)      (%)      (%)  
     Amount
Newly
Categorized		      Balance as of
September 30,
2010		      Accumulated
Removal Amount		      Accumulated
Removal Ratio		      Modified
Accumulated
Removal
Ratio*		  

Up to First Half of Fiscal 2007

      10,806.2         146.2         10,659.9         98.6         98.9   

Second Half of Fiscal 2007

      196.9         32.0         164.9         83.7         90.3   

First Half of Fiscal 2008

      270.1         49.9         220.2         81.5         91.2   

Second Half of Fiscal 2008

      463.8         108.3         355.4         76.6         85.4   

First Half of Fiscal 2009

      389.0         198.3         190.7         49.0         56.4   

Second Half of Fiscal 2009

      209.1         149.3         59.8         28.6         39.1   

First Half of Fiscal 2010

      172.5         172.5            

Total

      12,507.9         856.9         11,651.0         

 

* Modified accumulated removal ratios are based on the accumulated removal amount including the amount which was in the process of being removed from the balance sheet.

 

3-31

(3) Breakdown of Reasons for Removal of NPLs from the Balance Sheet in the First Half of Fiscal 2010

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     Newly Categorized      Amount Removed
from B/S in the
First Half of
Fiscal 2010		  
     Fiscal 2007     Fiscal 2008      Fiscal 2009     
     Up to
First Half		     Second Half     First Half     Second Half      First Half      Second Half     

Liquidation

      (4.2 )      (1.9 )      (1.7 )      (8.4 )       (2.8 )       (0.0 )       (19.2 ) 

Restructuring

      —          —          (1.3 )      (11.1 )       —           (0.2 )       (12.8 ) 

Improvement in Business Performance due to Restructuring

      —          —          (0.0 )      —           (0.0 )       (0.0 )       (0.1 ) 

Loan Sales

      (8.0 )      (5.2 )      (12.6 )      (15.0 )       (17.9 )       (13.3 )       (72.3 ) 

Direct Write-off

      16.4        5.3        14.0        25.5         10.9         (4.0 )       68.2   

Other

      (20.2 )      (3.9 )      (19.4 )      (44.5 )       (39.1 )       (41.9 )       (169.3 ) 

Debt recovery

      (12.0 )      (1.8 )      (13.9 )      (25.6 )       (29.7 )       (26.4 )       (109.7 ) 

Improvement in Business Performance

      (8.1 )      (2.1 )      (5.4 )      (18.9 )       (9.4 )       (15.5 )       (59.6 ) 

Total

      (16.1 )      (5.8 )      (21.2 )      (53.6 )       (49.0 )       (59.8 )       (205.8 ) 

Mizuho Bank

 

  

Liquidation

      (3.9 )      (1.9 )      (1.7 )      (7.4 )       (1.3 )       (0.0 )       (16.5 ) 

Restructuring

      —          —          (1.2 )      (8.5 )       —           (0.2 )       (10.0 ) 

Improvement in Business Performance due to Restructuring

      —          —          —          —           —           —           —     

Loan Sales

      (8.0 )      (5.2 )      (11.7 )      (13.7 )       (2.1 )       (0.1 )       (41.1 ) 

Direct Write-off

      10.6        5.2        12.2        19.3         (4.9 )       (4.1 )       38.3   

Other

      (15.2 )      (3.0 )      (15.0 )      (30.0 )       (26.2 )       (33.7 )       (123.3 ) 

Debt recovery

      (7.0 )      (1.3 )      (9.6 )      (20.3 )       (17.0 )       (18.5 )       (74.0 ) 

Improvement in Business Performance

      (8.1 )      (1.6 )      (5.3 )      (9.7 )       (9.1 )       (15.1 )       (49.3 ) 

Total

      (16.5 )      (4.9 )      (17.5 )      (40.4 )       (34.7 )       (38.4 )       (152.7 ) 

Mizuho Corporate Bank

 

  

Liquidation

      (0.3 )      —          —          (0.9 )       (0.1 )       —           (1.4 ) 

Restructuring

      —          —          —          —           —           —           —     

Improvement in Business Performance due to Restructuring

      —          —          (0.0 )      —           —           —           (0.0 ) 

Loan Sales

      —          —          (0.9 )      (1.3 )       (15.8 )       (13.1 )       (31.2 ) 

Direct Write-off

      5.8        0.0        2.6        3.5         15.9         0.0         28.0   

Other

      (4.9 )      (0.9 )      (1.9 )      (13.5 )       (9.6 )       (7.4 )       (38.3 ) 

Debt recovery

      (4.9 )      (0.4 )      (1.9 )      (4.4 )       (9.4 )       (7.3 )       (28.5 ) 

Improvement in Business Performance

      —          (0.4 )      (0.0 )      (9.0 )       (0.1 )       (0.0 )       (9.8 ) 

Total

      0.5        (0.8 )      (0.3 )      (12.2 )       (9.5 )       (20.5 )       (43.0 ) 

Mizuho Trust & Banking (Banking Account + Trust Account)

 

  

Liquidation

      —          —          —          —           (1.3 )       —           (1.3 ) 

Restructuring

      —          —          (0.1 )      (2.6 )       —           —           (2.7 ) 

Improvement in Business Performance due to Restructuring

      —          —          —          —           (0.0 )       (0.0 )       (0.1 ) 

Loan Sales

      —          —          —          —           (0.0 )       —           (0.0 ) 

Direct Write-off

      —          —          (0.7 )      2.6         (0.0 )       (0.0 )       1.7   

Other

      (0.1 )      (0.0 )      (2.4 )      (0.9 )       (3.3 )       (0.7 )       (7.6 ) 

Debt recovery

      (0.0 )      (0.0 )      (2.3 )      (0.8 )       (3.2 )       (0.5 )       (7.1 ) 

Improvement in Business Performance

      (0.0 )      (0.0 )      (0.0 )      (0.0 )       (0.0 )       (0.2 )       (0.4 ) 

Total

      (0.1 )      (0.0 )      (3.3 )      (0.9 )       (4.7 )       (0.8 )       (10.0 ) 

(Reference) Breakdown of Accumulated Amount Removed from the Balance Sheet

Aggregated Figures of the 3 Banks (including past figures for their former revitalization subsidiaries) (Banking Account + Trust Account)

 

    (Billions of yen)  
    Amount Removed     Accumulated
Removed
Amount
from B/S
since Second
Half of
Fiscal 2000		  
    Up to Second
Half of Fiscal
2007*		     In First Half of
Fiscal 2008		     In Second Half of
Fiscal 2008		     In First Half of
Fiscal 2009		     In Second Half of
Fiscal 2009		     In First Half of
Fiscal 2010		    

Liquidation

     (1,448.5 )      (142.1 )      (49.2 )      (15.0 )      (16.0 )      (19.2 )      (1,690.4 ) 

Restructuring

     (1,842.5 )      (1.8 )      (0.0 )      (4.0 )      (16.6 )      (12.8 )      (1,877.9 ) 

Improvement in Business Performance due to Restructuring

     (181.7 )      —          (0.0 )      (0.0 )      (2.9 )      (0.1 )      (184.9 ) 

Loan Sales

     (4,282.9 )      (19.4 )      (39.5 )      (40.2 )      (61.6 )      (72.3 )      (4,516.2 ) 

Direct Write-off

     3,248.4        135.4        22.9        (7.4 )      (2.1 )      68.2        3,465.4   

Other

     (5,982.9 )      (114.9 )      (130.9 )      (216.5 )      (232.0 )      (169.3 )      (6,846.7 ) 

Debt recovery

       (77.5 )      (92.5 )      (133.3 )      (156.7 )      (109.7 )   

Improvement in Business Performance

       (37.3 )      (38.3 )      (83.2 )      (75.2 )      (59.6 )   

Total

     (10,490.4 )      (142.9 )      (197.0 )      (283.3 )      (331.5 )      (205.8 )      (11,651.0 ) 

 

* From the Second Half of Fiscal 2000 to the Second Half of Fiscal 2007.

 

3-32

 

8. Status of Loans by Industry

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

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

    (Billions of yen)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
                   
                Change from March 31, 2010     Change from September 30, 2009     Outstanding
Balance		     Non-
Accrual,
Past Due &
Restructured
Loans		     Outstanding
Balance		     Non-
Accrual,
Past Due &
Restructured
Loans		  
    Outstanding
Balance		     Non-
Accrual,
Past Due &
Restructured
Loans		     Outstanding
Balance		     Non-
Accrual,
Past Due &
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		          

Domestic Total (excluding Loans Booked Offshore)

     57,535.4        1,136.8        (148.7 )      8.5        (1,722.0 )      (45.6 )      57,684.1        1,128.2        59,257.5        1,182.4   

Manufacturing

     7,411.3        223.7        (246.9 )      23.0        (560.7 )      59.1        7,658.3        200.7        7,972.1        164.5   

Agriculture & Forestry

     23.1        0.4        (0.8 )      0.1        (0.8 )      0.0        24.0        0.3        24.0        0.3   

Fishery

     0.9        0.0        (0.1 )      —          (0.4 )      0.0        1.0        0.0        1.4        —     

Mining, Quarrying Industry & Gravel Extraction Industry

     153.1        —          1.6        (0.0 )      8.3        (0.0 )      151.5        0.0        144.8        0.0   

Construction

     964.5        60.2        (69.4 )      1.6        (119.5 )      (11.7 )      1,034.0        58.6        1,084.1        72.0   

Utilities

     894.6        0.9        5.7        0.1        (24.5 )      (1.4 )      888.9        0.8        919.1        2.3   

Communication

     1,671.9        30.8        12.2        (9.0 )      (135.3 )      (33.0 )      1,659.6        39.8        1,807.2        63.9   

Transportation & Postal Industry

     2,896.2        103.4        (29.9 )      0.1        (52.9 )      (0.3 )      2,926.1        103.2        2,949.2        103.7   

Wholesale & Retail

     4,782.8        145.6        (114.4 )      9.1        (377.5 )      11.6        4,897.2        136.4        5,160.3        134.0   

Finance & Insurance

     7,074.0        15.4        (427.9 )      (4.1 )      (553.4 )      (19.4 )      7,501.9        19.6        7,627.5        34.9   

Real Estate

     6,601.1        221.0        (143.7 )      (12.0 )      (528.2 )      (67.7 )      6,744.9        233.0        7,129.3        288.7   

Commodity Lease

     1,622.7        16.7        (99.9 )      (2.2 )      (262.3 )      (7.0 )      1,722.7        18.9        1,885.1        23.7   

Service Industries

     2,958.5        136.2        (487.1 )      (17.5 )      (335.1 )      (24.9 )      3,445.7        153.7        3,293.7        161.1   

Local Governments

     1,099.4        2.9        82.4        (0.0 )      227.2        (0.0 )      1,016.9        3.0        872.2        3.0   

Governments

     5,619.7        —          1,234.9        —          699.7        —          4,384.7        —          4,919.9        —     

Other

     13,760.7        179.0        134.8        19.4        293.7        49.3        13,625.9        159.5        13,467.0        129.7   

Overseas Total (including Loans Booked Offshore)

     6,402.1        85.1        (281.4 )      (20.0 )      (840.6 )      (67.8 )      6,683.6        105.2        7,242.8        153.0   

Governments

     297.0        —          51.2        —          85.2        —          245.7        —          211.7        —     

Financial Institutions

     1,847.3        8.7        160.0        7.8        54.3        (2.9 )      1,687.3        0.9        1,793.0        11.7   

Other

     4,257.7        76.4        (492.8 )      (27.8 )      (980.2 )      (64.8 )      4,750.5        104.3        5,238.0        141.3   

Total

     63,937.6        1,222.0        (430.1 )      (11.4 )      (2,562.7 )      (113.4 )      64,367.8        1,233.4        66,500.3        1,335.5   

 

* Loans to Finance & Insurance sector includes loans to MHFG as follows:
   As of September 30, 2010: ¥700.0 billion (from MHBK)
   As of March 31, 2010:        ¥700.0 billion (from MHBK)
   As of September 30, 2009: ¥700.0 billion (from MHBK)
* Amounts of Outstanding Balances are aggregated figures of banking and trust accounts, and amounts of Non-Accrual, Past Due & Restructured Loans are aggregated figures of banking and trust accounts with contracts indemnifying the principal amounts.

 

3-33

 

 

    (Billions of yen)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
    Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		     Change from March 31, 2010     Change from September 30, 2009     Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		  
        Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due &
Restructured
Loans		          

Mizuho Bank

                    

Domestic Total (excluding Loans Booked Offshore)

     33,279.0        822.4        811.3        8.6        (26.9 )      (7.2 )      32,467.6        813.8        33,305.9        829.7   

Manufacturing

     2,870.3        149.9        (105.8 )      23.5        (254.3 )      39.7        2,976.2        126.3        3,124.7        110.1   

Agriculture & Forestry

     22.6        0.4        (0.8 )      0.1        (0.8 )      0.0        23.5        0.3        23.5        0.3   

Fishery

     0.9        0.0        (0.1 )      —          0.0        0.0        1.0        0.0        0.9        —     

Mining, Quarrying Industry & Gravel Extraction Industry

     5.7        —          (0.7 )      (0.0 )      (1.1 )      (0.0 )      6.4        0.0        6.8        0.0   

Construction

     509.9        45.5        (53.1 )      0.8        (60.6 )      (5.7 )      563.1        44.6        570.6        51.3   

Utilities

     61.4        0.3        (8.6 )      (0.1 )      (13.3 )      (1.7 )      70.1        0.5        74.8        2.0   

Communication

     331.6        24.2        (10.1 )      (6.2 )      (19.3 )      (10.1 )      341.8        30.5        351.0        34.4   

Transportation & Postal Industry

     1,049.5        26.4        16.0        0.0        33.2        2.0        1,033.5        26.3        1,016.2        24.3   

Wholesale & Retail

     3,482.5        136.0        (81.5 )      7.4        (154.0 )      12.1        3,564.0        128.5        3,636.5        123.8   

Finance & Insurance

     2,305.3        7.1        (17.9 )      (0.7 )      (265.3 )      (4.8 )      2,323.2        7.8        2,570.6        12.0   

Real Estate

     3,348.7        134.5        (92.2 )      (19.7 )      (242.9 )      (57.0 )      3,441.0        154.3        3,591.7        191.5   

Commodity Lease

     196.8        1.3        8.0        0.1        6.9        (0.1 )      188.7        1.1        189.9        1.5   

Service Industries

     2,196.4        130.8        (209.2 )      (17.4 )      (20.3 )      (22.8 )      2,405.6        148.2        2,216.8        153.6   

Local Governments

     949.7        —          82.0        —          208.6        —          867.6        —          741.1        —     

Governments

     4,296.7        —          1,185.9        —          597.4        —          3,110.8        —          3,699.3        —     

Other

     11,650.1        165.4        99.8        20.7        159.2        41.1        11,550.3        144.7        11,490.9        124.3   

Overseas Total (including Loans Booked Offshore)

     —          —          —          —          —          —          —          —          —          —     

Governments

     —          —          —          —          —          —          —          —          —          —     

Financial Institutions

     —          —          —          —          —          —          —          —          —          —     

Other

     —          —          —          —          —          —          —          —          —          —     

Total

     33,279.0        822.4        811.3        8.6        (26.9 )      (7.2 )      32,467.6        813.8        33,305.9        829.7   

Mizuho Corporate Bank

  

Domestic Total (excluding Loans Booked Offshore)

     19,031.3        257.0        (650.3 )      (8.6 )      (1,090.6 )      (28.8 )      19,681.6        265.7        20,121.9        285.9   

Manufacturing

     4,006.0        66.2        (125.9 )      (2.9 )      (279.4 )      16.8        4,131.9        69.1        4,285.4        49.4   

Agriculture & Forestry

     0.4        —          —          —          —          —          0.4        —          0.4        —     

Fishery

     —          —          —          —          (0.5 )      —          —          —          0.5        —     

Mining, Quarrying Industry & Gravel Extraction Industry

     142.3        —          2.4        —          9.9        —          139.8        —          132.4        —     

Construction

     359.3        14.1        4.1        1.9        (36.6 )      (4.2 )      355.1        12.2        395.9        18.4   

Utilities

     734.1        0.6        5.7        0.3        (18.3 )      0.5        728.4        0.2        752.5        0.0   

Communication

     369.2        5.8        99.3        (2.1 )      90.4        (20.5 )      269.9        7.9        278.8        26.3   

Transportation & Postal Industry

     1,623.7        76.9        (32.6 )      —          (73.5 )      (2.5 )      1,656.4        76.9        1,697.2        79.4   

Wholesale & Retail

     1,092.9        7.9        (22.6 )      1.6        (207.2 )      (0.8 )      1,115.6        6.3        1,300.2        8.8   

Finance & Insurance

     4,211.8        8.3        (295.0 )      (3.4 )      (152.2 )      (5.4 )      4,506.8        11.7        4,364.0        13.7   

Real Estate

     2,266.4        50.3        (11.5 )      (1.1 )      (199.2 )      (11.7 )      2,278.0        51.4        2,465.6        62.0   

Commodity Lease

     1,201.3        15.4        (109.9 )      (2.3 )      (253.8 )      (6.8 )      1,311.2        17.7        1,455.2        22.2   

Service Industries

     674.4        3.4        (272.5 )      0.8        (311.5 )      (1.0 )      947.0        2.6        986.0        4.4   

Local Governments

     112.3        —          0.7        —          17.8        —          111.5        —          94.5        —     

Governments

     1,073.1        —          38.3        —          152.6        —          1,034.8        —          920.5        —     

Other

     1,163.3        7.7        69.2        (1.4 )      171.1        6.9        1,094.1        9.1        992.2        0.7   

Overseas Total (including Loans Booked Offshore)

     6,395.3        85.1        (278.6 )      (20.0 )      (835.5 )      (67.8 )      6,674.0        105.2        7,230.9        153.0   

Governments

     296.1        —          51.3        —          85.4        —          244.7        —          210.7        —     

Financial Institutions

     1,847.3        8.7        160.0        7.8        54.3        (2.9 )      1,687.3        0.9        1,793.0        11.7   

Other

     4,251.8        76.4        (490.1 )      (27.8 )      (975.3 )      (64.8 )      4,741.9        104.3        5,227.2        141.3   

Total

     25,426.7        342.2        (928.9 )      (28.6 )      (1,926.2 )      (96.7 )      26,355.6        370.9        27,352.9        439.0   

Mizuho Trust & Banking (Banking Account + Trust Account)

  

Domestic Total (excluding Loans Booked Offshore)

     5,225.1        57.2        (309.7 )      8.5        (604.4 )      (9.4 )      5,534.8        48.6        5,829.6        66.7   

Manufacturing

     535.0        7.5        (15.1 )      2.4        (26.9 )      2.6        550.2        5.1        561.9        4.9   

Agriculture & Forestry

     0.0        —          (0.0 )      —          (0.0 )      —          0.0        —          0.0        —     

Fishery

     —          —          —          —          —          —          —          —          —          —     

Mining, Quarrying Industry & Gravel Extraction Industry

     5.1        —          (0.0 )      —          (0.4 )      —          5.2        —          5.5        —     

Construction

     95.3        0.4        (20.3 )      (1.1 )      (22.2 )      (1.8 )      115.6        1.6        117.5        2.2   

Utilities

     99.0        0.0        8.6        (0.0 )      7.1        (0.2 )      90.3        0.0        91.8        0.3   

Communication

     970.9        0.7        (76.8 )      (0.6 )      (206.3 )      (2.3 )      1,047.8        1.3        1,177.3        3.1   

Transportation & Postal Industry

     223.0        0.0        (13.2 )      0.0        (12.6 )      0.0        236.2        —          235.6        —     

Wholesale & Retail

     207.2        1.5        (10.2 )      (0.0 )      (16.2 )      0.2        217.5        1.5        223.5        1.3   

Finance & Insurance

     556.9        —          (114.9 )      —          (135.8 )      (9.1 )      671.8        —          692.7        9.1   

Real Estate

     985.8        36.0        (39.8 )      8.8        (86.0 )      0.9        1,025.7        27.2        1,071.9        35.0   

Commodity Lease

     224.6        0.0        1.9        (0.0 )      (15.4 )      (0.0 )      222.6        0.0        240.0        0.0   

Service Industries

     87.5        1.8        (5.4 )      (1.0 )      (3.2 )      (1.1 )      93.0        2.9        90.8        3.0   

Local Governments

     37.3        2.9        (0.4 )      (0.0 )      0.7        (0.0 )      37.7        3.0        36.5        3.0   

Governments

     249.7        —          10.6        —          (50.2 )      —          239.1        —          300.0        —     

Other

     947.2        5.8        (34.2 )      0.1        (36.6 )      1.2        981.4        5.7        983.8        4.5   

Overseas Total (including Loans Booked Offshore)

     6.7        —          (2.8 )      —          (5.0 )      —          9.6        —          11.8        —     

Governments

     0.9        —          (0.1 )      —          (0.1 )      —          1.0        —          1.0        —     

Financial Institutions

     —          —          —          —          —          —          —          —          —          —     

Other

     5.8        —          (2.7 )      —          (4.9 )      —          8.5        —          10.8        —     

Total

     5,231.9        57.2        (312.5 )      8.5        (609.5 )      (9.4 )      5,544.5        48.6        5,841.4        66.7   

 

* Amounts of outstanding loans are aggregated figures of banking and trust accounts, and amounts of non-accrual, past due & restructured loans are aggregated figures of banking and trust accounts with contracts indemnifying the principal amounts.

 

3-34

 

 

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

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

    (Billions of yen, %)  
    As of September 30, 2010     As of March 31, 2010     As of September 30, 2009  
                Change from March 31, 2010     Change from September 30, 2009                          
    Disclosed Claims
under the FRL		     Coverage
Ratio		     Disclosed Claims
under the FRL		     Coverage
Ratio		     Disclosed Claims
under the FRL		     Coverage
Ratio		     Disclosed Claims
under the FRL		     Coverage
Ratio		     Disclosed Claims
under the FRL		     Coverage
Ratio		  

Domestic Total (excluding Loans Booked Offshore)

     1,212.2        76.9        5.2        (1.8 )      (49.9 )      0.2        1,207.0        78.7        1,262.2        76.6   

Manufacturing

     235.0        60.1        20.9        (2.4 )      60.4        (2.2 )      214.0        62.5        174.6        62.4   

Agriculture & Forestry

     0.4        77.1        0.1        (14.6 )      0.0        (16.4 )      0.3        91.7        0.3        93.5   

Fishery

     0.0        100.0        (0.0 )      —          0.0        —          0.0        100.0        0.0        100.0   

Mining, Quarrying Industry & Gravel Extraction Industry

     0.0        100.0        (0.0 )      —          0.0        —          0.0        100.0        0.0        100.0   

Construction

     61.5        77.8        1.9        1.1        (12.1 )      6.0        59.6        76.7        73.6        71.7   

Utilities

     1.4        61.1        0.6        (5.3 )      (0.9 )      (9.6 )      0.8        66.5        2.3        70.8   

Communication

     31.4        63.9        (9.0 )      (5.8 )      (33.5 )      7.1        40.5        69.8        65.0        56.8   

Transportation & Postal Industry

     111.2        92.7        (0.7 )      0.2        4.3        22.9        111.9        92.4        106.8        69.7   

Wholesale & Retail

     153.9        67.5        8.3        (4.0 )      7.3        (3.8 )      145.5        71.5        146.5        71.3   

Finance & Insurance

     16.9        59.4        (3.7 )      (0.3 )      (18.5 )      (7.5 )      20.7        59.8        35.5        67.0   

Real Estate

     222.7        85.4        (12.4 )      (2.4 )      (70.5 )      (4.8 )      235.1        87.9        293.3        90.3   

Commodity Lease

     17.0        77.8        (2.2 )      (3.3 )      (8.2 )      2.6        19.2        81.2        25.3        75.2   

Service Industries

     140.5        62.7        (16.1 )      (4.1 )      (24.4 )      (6.1 )      156.6        66.8        164.9        68.9   

Local Governments

     30.6        100.0        (0.0 )      —          (0.0 )      —          30.6        100.0        30.6        100.0   

Other

     189.1        96.2        17.7        0.7        46.2        1.6        171.4        95.5        142.8        94.6   

Overseas Total (including Loans Booked Offshore)

     89.7        56.9        (23.1 )      (3.2 )      (79.1 )      (7.4 )      112.9        60.1        168.9        64.4   

Governments

     —          —          —          —          —          —          —          —          —          —     

Financial Institutions

     8.7        63.8        7.5        (8.5 )      (3.7 )      (33.4 )      1.2        72.4        12.5        97.3   

Other

     81.0        56.2        (30.6 )      (3.8 )      (75.3 )      (5.6 )      111.6        60.0        156.4        61.8   

Total

     1,302.0        75.5        (17.8 )      (1.6 )      (129.1 )      0.3        1,319.9        77.1        1,431.2        75.1   

 

* Trust account denotes trust accounts with contracts indemnifying the principal amounts.

 

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-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

     (Billions of yen)  
     As of September 30, 2010               
            Change from
March 31,
2010		     Change from
September 30,
2009		     As of
March 31,
2010		      As of
September 30,
2009		  

Housing and Consumer Loans

      12,367.9         70.3        94.2        12,297.5         12,273.6   

Housing Loans for owner’s residential housing

      10,393.6         135.1        250.5        10,258.4         10,143.0   

Mizuho Bank

             

Housing and Consumer Loans

      12,100.0         83.0        116.1        12,016.9         11,983.8   

Housing Loans

      11,126.7         96.3        178.8        11,030.4         10,947.8   

for owner’s residential housing

      10,161.2         145.0        267.1        10,016.1         9,894.0   

Consumer loans

      973.3         (13.2 )      (62.7 )      986.5         1,036.0   

Mizuho Corporate Bank

             

Housing and Consumer Loans

      —           —          —          —           —     

Housing Loans

      —           —          —          —           —     

for owner’s residential housing

      —           —          —          —           —     

Consumer loans

      —           —          —          —           —     

Mizuho Trust & Banking (Banking Account + Trust Account)

  

Housing and Consumer Loans

      267.8         (12.7 )      (21.8 )      280.6         289.7   

Housing Loans for owner’s residential housing

      232.4         (9.9 )      (16.5 )      242.3         248.9   

 

* Above figures are aggregated banking and trust account amounts.

(2) Loans to SMEs and Individual Customers

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

     (%, Billions of yen)  
     As of September 30, 2010               
            Change from
March 31,
2010		     Change from
September 30,
2009		     As of
March 31,
2010		      As of
September 30,
2009		  

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      57.2         (0.4 )      1.7        57.6         55.5   

Loans to SMEs and Individual Customers

      32,923.6         (337.9 )      32.1        33,261.5         32,891.4   

 

*Loans to MHFG are included as follows:

  As of September 30, 2010: ¥700.0 billion (from MHBK)

  As of March 31, 2010:        ¥700.0 billion (from MHBK)

  As of September 30, 2009: ¥700.0 billion (from MHBK)

   

   

   

   

Mizuho Bank

             

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      70.9         (2.2 )      (0.5 )      73.1         71.4   

Loans to SMEs and Individual Customers

      23,611.3         (149.1 )      (190.8 )      23,760.5         23,802.2   

Mizuho Corporate Bank

             

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      37.8         0.4        3.5        37.4         34.3   

Loans to SMEs and Individual Customers

      7,207.9         (158.6 )      301.3        7,366.5         6,906.5   

Mizuho Trust & Banking (Banking Account + Trust Account)

             

Percentage of Loans to SMEs and Individual Customers, of Total Domestic Loans

      40.2         1.7        2.8        38.5         37.4   

Loans to SMEs and Individual Customers

      2,104.3         (30.1 )      (78.2 )      2,134.4         2,182.5   

 

* Above figures are aggregated banking and trust account amounts.
* Above figures do not include loans booked at overseas offices and offshore loans.
* The definition of “Small and Medium-sized Enterprises” is as follows:
   Enterprises of which the capital is ¥300 million or below (¥100 million or below for the wholesale industry, and ¥50 million or below for the retail and service industries), or enterprises with full-time employees of 300 or below (100 or below for the wholesale industry, 50 or below for the retail industry, and 100 or below for the service industry.)

 

3-36

 

 

10. Status of Loans by Region

(1) Balance of Loans to Restructuring Countries

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

     (Billions of yen, Number of countries)  
     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31,
2010		     Change from
September 30,
2009		       

Loan amount

      0.0         (1.5 )      (2.4 )      1.5         2.5   

Number of Restructuring Countries*

      2         (2 )      (2 )      4         4   

 

* Number of Restructuring Countries refers to the countries of obligors’ residence.

(2) Outstanding Balances and Non-Accrual, Past Due & Restructured Loans by Region

Non-Consolidated

Aggregated Figures of the 3 Banks (Banking Account + Trust Account)

 

    (Billions of Yen)  
    As of September 30, 2010                          
                Change from March 31, 2010     Change from September 30, 2009     As of March 31, 2010     As of September 30, 2009  
    Outstanding
Balance		     Non-Accrual,
Past Due and
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due and
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due and
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due and
Restructured
Loans		     Outstanding
Balance		     Non-Accrual,
Past Due and
Restructured
Loans		  

Asia

     2,052.5        15.8        273.0        (4.3 )      388.8        (2.2 )      1,779.5        20.1        1,663.7        18.1   

Hong Kong

     480.4        2.7        94.8        (0.7 )      123.0        0.4        385.6        3.5        357.4        2.3   

Korea

     312.9        1.2        43.9        (0.0 )      83.1        0.8        269.0        1.3        229.8        0.3   

Singapore

     281.7        4.5        15.0        (0.3 )      15.5        (1.8 )      266.7        4.8        266.2        6.4   

Thailand

     310.3        1.8        34.4        (0.7 )      70.0        (0.5 )      275.8        2.6        240.2        2.4   

Central and South America

     2,420.9        9.4        (84.3 )      1.0        68.3        6.7        2,505.3        8.3        2,352.6        2.6   

North America

     1,837.2        2.9        (185.6 )      (4.6 )      (414.4 )      (50.8 )      2,022.9        7.6        2,251.6        53.8   

Eastern Europe

     55.6        10.9        (19.4 )      (4.1 )      (14.7 )      4.5        75.1        15.1        70.3        6.4   

Western Europe

     1,946.6        41.4        (241.6 )      (7.0 )      (658.7 )      (23.7 )      2,188.2        48.5        2,605.3        65.2   

Other

     790.1        19.1        (41.7 )      (0.5 )      (44.7 )      11.3        831.9        19.7        834.8        7.8   

Total

     9,103.2        99.8        (299.8 )      (19.7 )      (675.4 )      (54.2 )      9,403.1        119.6        9,778.6        154.1   

 

* The above figures do not include the outstanding balance of loans by Mizuho Corporate Bank (China), Ltd. established in June 2007.

 

3-37

 

III. DEFERRED TAXES

1. Change in Deferred Tax Assets, etc.

Consolidated

 

     (Billions of yen)  
     As of September 30, 2010               
           Change from
March 31,
2010		     Change from
September 30,
2009		     As of
March 31,
2010		      As of
September 30,
2009		  

Net Deferred Tax Assets (A)

      447.0        (73.7 )      (168.0 )      520.8         615.1   

(Reference)

            

Tier I Capital (B)

      6,260.1        1,086.6        1,112.7        5,173.4         5,147.4   

(A)/(B) (%)

      7.1        (2.9 )      (4.8 )      10.0         11.9   

Non-Consolidated

            
     (Billions of yen)  
     As of September 30, 2010               
           Change from
March 31,
2010		     Change from
September 30,
2009		     As of
March 31,
2010		      As of
September 30,
2009		  

Mizuho Bank

            

Total Deferred Tax Assets (A)

      823.5        (47.2 )      (153.6 )      870.8         977.2   

Total Deferred Tax Liabilities (B)

      (184.2 )      0.2        10.1        (184.4 )       (194.3 ) 

(A) + (B)

      639.3        (47.0 )      (143.5 )      686.3         782.8   

Valuation Allowance

      (380.6 )      54.8        117.6        (435.5 )       (498.3 ) 

Net Deferred Tax Assets (C)

      258.6        7.7        (25.8 )      250.8         284.5   

(Reference)

            

Tier I Capital (D)

      1,931.5        106.6        134.2        1,824.9         1,797.3   

(C)/(D) (%)

      13.3        (0.3 )      (2.4 )      13.7         15.8   

Mizuho Corporate Bank

            

Total Deferred Tax Assets (A)

      1,083.8        (80.5 )      (515.8 )      1,164.4         1,599.7   

Total Deferred Tax Liabilities (B)

      (248.9 )      (31.7 )      (34.6 )      (217.1 )       (214.2 ) 

(A) + (B)

      834.9        (112.2 )      (550.5 )      947.2         1,385.4   

Valuation Allowance

      (738.0 )      25.9        412.8        (763.9 )       (1,150.9 ) 

Net Deferred Tax Assets (C)

      96.9        (86.3 )      (137.6 )      183.2         234.5   

(Reference)

            

Tier I Capital (D)

      3,633.3        303.6        496.4        3,329.6         3,136.8   

(C)/(D) (%)

      2.6        (2.8 )      (4.8 )      5.5         7.4   

Mizuho Trust & Banking

            

Total Deferred Tax Assets (A)

      129.7        (9.2 )      (89.1 )      139.0         218.9   

Total Deferred Tax Liabilities (B)

      (16.7 )      (1.1 )      (1.5 )      (15.5 )       (15.1 ) 

(A) + (B)

      113.0        (10.4 )      (90.7 )      123.4         203.7   

Valuation Allowance

      (93.8 )      1.9        74.3        (95.8 )       (168.2 ) 

Net Deferred Tax Assets (C)

      19.1        (8.4 )      (16.3 )      27.6         35.5   

(Reference)

            

Tier I Capital (D)

      290.0        10.3        23.7        279.7         266.3   

(C)/(D) (%)

      6.6        (3.2 )      (6.7 )      9.8         13.3   

Aggregated Figures of the Three Banks

            

Total Deferred Tax Assets (A)

      2,037.2        (137.0 )      (758.6 )      2,174.2         2,795.9   

Total Deferred Tax Liabilities (B)

      (449.9 )      (32.6 )      (26.1 )      (417.2 )       (423.7 ) 

(A) + (B)

      1,587.3        (169.6 )      (784.8 )      1,757.0         2,372.1   

Valuation Allowance

      (1,212.5 )      82.7        604.9        (1,295.3 )       (1,817.5 ) 

Net Deferred Tax Assets (C)

      374.7        (86.9 )      (179.8 )      461.7         554.6   

(Reference)

            

Tier I Capital (D)

      5,854.9        420.5        654.3        5,434.3         5,200.5   

(C)/(D) (%)

      6.4        (2.0 )      (4.2 )      8.4         10.6   

 

3-38

 

2. Estimation of Deferred Tax Assets, etc.

Non-Consolidated

(1) Calculation Policy

Recoverability of Deferred Tax Assets is basically assessed based on future taxable income derived from future profitability, considering that Mizuho Bank, Mizuho Corporate Bank and Mizuho Trust & Banking’s fundamental profitability enabled the three banks consistently to report an appropriate level of Net Business Profits in previous periods. Mizuho Bank, Mizuho Corporate Bank and Mizuho Trust & Banking’s tax losses carry-forwards and future deductible temporary differences in the past resulted from nonrecurring special causes, e.g. losses from extraordinary and significant waiver of claims due to the crash of the bubble economy, acceleration of disposition of NPLs and stock holdings in accordance with government policy to stabilize promptly the financial system under the long deflationary depression, and the restructuring of businesses to meet the severe management environment. Since the three banks could have reported positive taxable income every year if the losses from these special factors were excluded, the conditions under the provisory clause of 5. (1) „ of “Audit Guideline for Considering Recoverability of Deferred Tax Assets” (JICPA Audit Committee Report No. 66) have been fulfilled. Period for future taxable income considered in the assessment is five years.

(Reference) Past results of taxable income (tax loss)

 

     (Billions of yen)  
     Mizuho Bank      Mizuho Corporate Bank      Mizuho Trust & Banking  

First Half of Fiscal 2010 (estimate)

      78.0         149.0         10.0   

Fiscal 2009

      94.8         96.8         16.7   

Fiscal 2008

      128.9         236.1         10.3   

Fiscal 2007

      273.2         487.1         74.3   

Fiscal 2006

      128.6         438.4         83.1   

Fiscal 2005

      124.2         211.0         24.9   

 

Notes:

1. Figures are taxable income (tax loss) amounts per the final corporation tax returns before deducting tax losses carried forward from prior years. Subsequent amendments have not been reflected.
2. Figures for the First Half of Fiscal 2010 are estimates of taxable income before deducting tax losses carried forward from prior years.

 

3-39

 

(2) Estimation for Calculating Deferred Tax Assets

 

Mizuho Bank

 

1. Estimate of future taxable income

 

 

            (Billions of yen)
(Reference)		  
            Total amount for
five  years
(from October 1, 2010
to
September 30, 2015)		            First Half
of Fiscal
2010		  

Gross Profits

      1         4,044.3           421.6   

General and Administrative Expenses

      2         (2,773.1 )         (279.3 ) 

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      3         1,271.2           142.3   

Credit-related Costs

      4         (632.8 )         2.8   

Income before Income Taxes

      5         343.6           114.5   

Tax Adjustments*1

      6         660.6        

Taxable Income before Current Deductible Temporary Differences*2

      7         1,004.2        

Effective Statutory tax rate

      8         40.59 %      

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [7 x 8]

      9         407.6        ðEqual to Line 26      

 

*1. Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.
*2. Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2010.

 

2. Breakdown of Deferred Tax Assets

 

 

            (Billions of yen)  
            As of September 30, 2010      As of
March 31,
2010		      As of
September 30,
2009		  
                  Change from
March 31, 2010		     Change from
September 30, 2009		        

Reserves for Possible Losses on Loans

      10         218.4        (18.5 )      (35.4 )       237.0         253.8   

Impairment of Securities

      11         252.6        (0.8 )      1.2         253.4         251.3   

Net Unrealized Losses on Other Securities

      12         29.9        2.2        8.6         27.7         21.2   

Reserve for Employee Retirement Benefits

      13         —          —          —           —           —     

Net Deferred Hedge Losses

      14         —          —          —           —           —     

Tax Losses Carried Forward

      15         136.6        (32.0 )      (127.5 )       168.6         264.1   

Other

      16         185.9        1.9        (0.6 )       183.9         186.5   
                                             

Total Deferred Tax Assets

      17         823.5        (47.2 )      (153.6 )       870.8         977.2   
                                             

Valuation Allowance

      18         (380.6 )      54.8        117.6         (435.5 )       (498.3 ) 
                                             

Sub Total [17 + 18]

      19         442.8        7.5        (35.9 )       435.2         478.8   
                                             

Amount related to Retirement Benefits Accounting*

      20         (123.2 )      4.4        14.9         (127.6 )       (138.1 ) 

Net Unrealized Gains on Other Securities

      21         (16.1 )      (4.5 )      0.1         (11.6 )       (16.2 ) 

Net Deferred Hedge Gains

      22         (12.2 )      (0.3 )      (5.2 )       (11.8 )       (6.9 ) 

Other

      23         (32.6 )      0.5        0.3         (33.2 )       (32.9 ) 
                                             

Total Deferred Tax Liabilities

      24         (184.2 )      0.2        10.1         (184.4 )       (194.3 ) 
                                             

Net Deferred Tax Assets (Liabilities) [19 + 24]

      25         258.6        7.7        (25.8 )       250.8         284.5   

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [9]

      26         407.6        (43.8 )      (8.7 )       451.4         416.3   

Net Unrealized Gains on Other Securities [21]

      27         (16.1 )      (4.5 )      0.1         (11.6 )       (16.2 ) 

Net Deferred Hedge Losses [14]

      28         —          —          —           —           —     

Net Deferred Hedge Gains [22]

      29         (12.2 )      (0.3 )      (5.2 )       (11.8 )       (6.9 ) 

Other (including Deferred Tax Assets corresponding to Remaining Taxable Income before Current Deductible Temporary Differences and others)

      30         (120.5 )      56.4        (12.0 )       (177.0 )       (108.5 ) 

 

* Amount related to Retirement Benefits Accounting includes ¥(87.4) billion related to gains on securities contributed to employee retirement benefit trust.

 

 

<Explanation>

Future taxable income was estimated using more conservative assumptions than those used in the Business Plan, etc. Details of the respective estimated five-year totals are as follows:

Gross Profits: ¥4,044.3 billion [1]

General and Administrative Expenses: ¥2,773.1 billion [2]

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans): ¥1,271.2 billion [3]

Income before Income Taxes (including Credit-related costs, etc.): ¥343.6 billion [5]

Taxable Income before Current Deductible Temporary Differences: ¥1,004.2 billion [7].

On the other hand, Deferred Tax Assets which are tax deductible in the future, such as Reserves for Possible Losses on Loans, Tax Losses Carried Forward and others amount to ¥823.5 billion [17]. However, after considering temporary differences which are not expected to be reversed in the next five years, Valuation Allowance of ¥380.6 billion [18] was provided, therefore after offsetting Deferred Tax Liabilities of ¥184.2 billion [24], ¥258.6 billion [25] of Net Deferred Tax Assets was recorded on the balance sheet.

 

The above includes forward-looking information. See the disclaimer on the first page of this document.

 

3-40

 

Mizuho Corporate Bank

1. Estimate of future taxable income

 

            (Billions of yen)
(Reference)		  
            Total amount for
five years (from
October 1, 2010 to
September 30, 2015)		            First Half of
Fiscal 2010		  

Gross Profits

      1         2,759.5           397.2   

General and Administrative Expenses

      2         (1,234.5 )         (116.5 ) 

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      3         1,525.0           280.7   

Credit-related Costs

      4         (472.5 )         23.8   

Income before Income Taxes

      5         863.2           269.5   

Tax Adjustments *1

      6         311.0        

Taxable Income before Current Deductible Temporary Differences *2

      7         1,174.2        

Effective Statutory tax rate

      8         40.69 %      

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [7 x 8]

      9         477.8      ð Equal to Line 26      

 

*1. Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.
*2. Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2010.

2. Breakdown of Deferred Tax Assets

 

            (Billions of yen)  
            As of September 30, 2010      As of
March 31,
2010		      As of
September 30,
2009		  
                  Change from
March 31, 2010		     Change from
September 30, 2009		        

Reserves for Possible Losses on Loans

      10         104.6        (17.7 )      (39.9 )       122.4         144.6   

Impairment of Securities

      11         615.6        (19.1 )      (28.0 )       634.8         643.6   

Net Unrealized Losses on Other Securities

      12         62.4        18.3        (19.3 )       44.1         81.7   

Reserve for Employee Retirement Benefits

      13         —          —          —           —           —     

Net Deferred Hedge Losses

      14         —          —          —           —           —     

Tax Losses Carried Forward

      15         153.4        (60.6 )      (417.8 )       214.0         571.2   

Other

      16         147.6        (1.2 )      (10.6 )       148.9         158.2   
                                             

Total Deferred Tax Assets

      17         1,083.8        (80.5 )      (515.8 )       1,164.4         1,599.7   
                                             

Valuation Allowance

      18         (738.0 )      25.9        412.8         (763.9 )       (1,150.9 ) 
                                             

Sub Total [17 + 18]

      19         345.8        (54.5 )      (102.9 )       400.4         448.8   
                                             

Amount related to Retirement Benefits Accounting *

      20         (57.6 )      0.7        4.4         (58.3 )       (62.0 ) 

Net Unrealized Gains on Other Securities

      21         (36.7 )      23.3        15.2         (60.1 )       (52.0 ) 

Net Deferred Hedge Gains

      22         (136.6 )      (56.7 )      (55.7 )       (79.8 )       (80.8 ) 

Other

      23         (17.9 )      0.9        1.3         (18.8 )       (19.2 ) 
                                             

Total Deferred Tax Liabilities

      24         (248.9 )      (31.7 )      (34.6 )       (217.1 )       (214.2 ) 
                                             

Net Deferred Tax Assets (Liabilities) [19 + 24]

      25         96.9        (86.3 )      (137.6 )       183.2         234.5   

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [9]

      26         477.8        (3.1 )      58.8         480.9         418.9   

Net Unrealized Gains on Other Securities [21]

      27         (36.7 )      23.3        15.2         (60.1 )       (52.0 ) 

Net Deferred Hedge Losses [14]

      28         —          —          —           —           —     

Net Deferred Hedge Gains [22]

      29         (136.6 )      (56.7 )      (55.7 )       (79.8 )       (80.8 ) 

Other (including Deferred Tax Assets corresponding to Remaining Taxable Income before Current Deductible Temporary Differences and others)

      30         (207.5 )      (49.7 )      (156.0 )       (157.7 )       (51.5 ) 

 

* Amount related to Retirement Benefits Accounting includes ¥(27.0) billion related to gains on securities contributed to employee retirement benefit trust.

 

 

<Explanation>

Future taxable income was estimated using more conservative assumptions than those used in the Business Plan, etc. Details of the respective estimated five-year totals are as follows:

Gross Profits: ¥2,759.5 billion [1]

General and Administrative Expenses: ¥1,234.5 billion [2]

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans): ¥1,525.0 billion [3]

Income before Income Taxes (including Credit-related costs, etc.): ¥863.2 billion [5]

Taxable Income before Current Deductible Temporary Differences:: ¥1,174.2 billion [7].

On the other hand, Deferred Tax Assets which are tax deductible in the future, such as Reserves for Possible Losses on Loans, Tax Losses Carried Forward and others amount to ¥1,083.8 billion [17]. However, after considering temporary differences which are not expected to be reversed in the next five years, Valuation Allowance of ¥738.0 billion [18] was provided, therefore after offsetting Deferred Tax Liabilities of ¥248.9 billion [24], ¥96.9 billion [25] of Net Deferred Tax Assets was recorded on the balance sheet.

 

 

The above includes forward-looking information. See the disclaimer on the first page of this document.

 

3-41

 

Mizuho Trust & Banking

1. Estimate of future taxable income

 

 

 

            (Billions of  yen)
(Reference)		  
            Total amount for
five years (from
October 1, 2010 to
September 30, 2015)		            First Half of
Fiscal 2010		  

Gross Profits

      1         644.2           66.5   

General and Administrative Expenses

      2         (442.7 )         (44.4 ) 

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      3         201.5          22.0   

Credit-related Costs

      4         (53.6 )         (1.3 ) 

Income before Income Taxes

      5         106.6           15.9   

Tax Adjustments *1

      6         29.0        

Taxable Income before Current Deductible Temporary Differences *2

      7         135.6        

Effective Statutory tax rate

      8         40.60 %      

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [ 7 x 8 ]

      9         55.0        ðEqual to Line 26      

 

*1. Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.
*2. Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2010.

2. Breakdown of Deferred Tax Assets

 

            (Billions of yen)  
            As of September 30, 2010      As of
March 31,
2010		      As of
September 30,
2009		  
                  Change from
March 31, 2010		     Change from
September 30, 2009		        

Reserves for Possible Losses on Loans

      10         12.6        (1.1 )      (2.7 )       13.7         15.4   

Impairment of Securities

      11         60.6        (0.4 )      (2.1 )       61.0         62.7   

Net Unrealized Losses on Other Securities

      12         3.3        (1.5 )      (2.9 )       4.9         6.2   

Reserve for Employee Retirement Benefits

      13         11.5        0.8        2.5         10.7         9.0   

Net Deferred Hedge Losses

      14         2.7        (1.1 )      (1.2 )       3.9         4.0   

Tax Losses Carried Forward

      15         23.9        (4.1 )      (79.7 )       28.1         103.7   

Other

      16         14.8        (1.5 )      (2.8 )       16.3         17.6   
                                             

Total Deferred Tax Assets

      17         129.7        (9.2 )      (89.1 )       139.0         218.9   
                                             

Valuation Allowance

      18         (93.8 )      1.9        74.3         (95.8 )       (168.2 ) 
                                             

Sub Total [ 17 + 18 ]

      19         35.9        (7.2 )      (14.7 )       43.2         50.7   
                                             

Amount related to Retirement Benefits Accounting *

      20         (6.0 )      —          —           (6.0 )       (6.0 ) 

Net Unrealized Gains on Other Securities

      21         (10.3 )      (1.5 )      (1.7 )       (8.8 )       (8.5 ) 

Net Deferred Hedge Gains

      22         —          —          —           —           —     

Other

      23         (0.3 )      0.3        0.1         (0.7 )       (0.5 ) 
                                             

Total Deferred Tax Liabilities

      24         (16.7 )      (1.1 )      (1.5 )       (15.5 )       (15.1 ) 
                                             

Net Deferred Tax Assets (Liabilities) [19 + 24]

      25         19.1        (8.4 )      (16.3 )       27.6         35.5   

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [9]

      26         55.0        (0.8 )      (5.8 )       55.9         60.9   

Net Unrealized Gains on Other Securities [21]

      27         (10.3 )      (1.5 )      (1.7 )       (8.8 )       (8.5 ) 

Net Deferred Hedge Losses [14]

      28         2.7        (1.1 )      (1.2 )       3.9         4.0   

Net Deferred Hedge Gains [22]

      29         —          —          —           —           —     

Other (including Deferred Tax Assets corresponding to Remaining Taxable Income before Current Deductible Temporary Differences and others)

      30         (28.3 )      (4.8 )      (7.5 )       (23.4 )       (20.8 ) 

 

* Amount related to Retirement Benefits Accounting is deferred tax liabilities related to gains on securities contributed to employee retirement benefit trust.

 

 

<Explanation>

Future taxable income was estimated using more conservative assumptions than those used in the Business Plan, etc. Details of the respective estimated five-year totals are as follows:

Gross Profits: ¥644.2 billion [1]

General and Administrative Expenses: ¥442.7 billion [2]

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans): ¥201.5 billion [3]

Income before Income Taxes (including Credit-related costs, etc.): ¥106.6 billion [5]

Taxable Income before Current Deductible Temporary Differences: ¥135.6 billion [7].

On the other hand, Deferred Tax Assets which are tax deductible in the future, such as Reserves for Possible Losses on Loans, Tax Losses Carried Forward and others amount to ¥129.7 billion [17]. However, after considering temporary differences which are not expected to be reversed in the next five years, Valuation Allowance of ¥93.8 billion [18] was provided, therefore after offsetting Deferred Tax Liabilities of ¥16.7 billion [24], ¥19.1 billion [25] of Net Deferred Tax Assets was recorded on the balance sheet.

 

The above includes forward-looking information. See the disclaimer on the first page of this document.

 

3-42

 

Aggregated Figures of the 3 Banks

1. Estimate of future taxable income

 

          (Billions of  yen)
(Reference)		  
          Total amount for
five years
(from
October 1, 2010 to
September 30, 2015)		           First Half of
Fiscal 2010		  

Gross Profits

     1        7,448.0          885.4   

General and Administrative Expenses

     2        (4,450.3 )        (440.3 ) 

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

     3        2,997.7          445.1   

Credit-related Costs

     4        (1,158.9 )        25.2   

Income before Income Taxes

     5        1,313.4          400.0   

Tax Adjustments *1

     6        1,000.7       

Taxable Income before Current Deductible Temporary Differences *2

     7        2,314.1       

Effective Statutory tax rate

     8        40.59%~40.69 %     

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [7 x 8]

     9        940.4      ð Equal to Line 26     

 

*1. Tax Adjustments are estimated future book-tax differences under the provisions of the corporation tax law and others.
*2. Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of September 30, 2010.

2. Breakdown of Deferred Tax Assets

 

          (Billions of yen)  
          As of September 30, 2010     As of
March 31,
2010		     As of
September 30,
2009		  
                Change from
March 31, 2010		     Change from
September 30, 2009		      

Reserves for Possible Losses on Loans

     10        335.8        (37.4 )      (78.1 )      373.2        414.0   

Impairment of Securities

     11        928.8        (20.5 )      (28.9 )      949.3        957.7   

Net Unrealized Losses on Other Securities

     12        95.7        18.9        (13.6 )      76.8        109.3   

Reserve for Employee Retirement Benefits

     13        11.5        0.8        2.5        10.7        9.0   

Net Deferred Hedge Losses

     14        2.7        (1.1 )      (1.2 )      3.9        4.0   

Tax Losses Carried Forward

     15        314.0        (96.8 )      (625.1 )      410.8        939.2   

Other

     16        348.4        (0.8 )      (14.0 )      349.2        362.4   
                                         
Total Deferred Tax Assets     17        2,037.2        (137.0 )      (758.6 )      2,174.2        2,795.9   
                                         

Valuation Allowance

     18        (1,212.5 )      82.7        604.9        (1,295.3 )      (1,817.5 ) 
                                         
Sub Total [17 + 18]     19        824.6        (54.2 )      (153.7 )      878.9        978.3   
                                         

Amount related to Retirement Benefits Accounting *

     20        (186.8 )      5.2        19.3        (192.1 )      (206.2 ) 

Net Unrealized Gains on Other Securities

     21        (63.2 )      17.3        13.6        (80.5 )      (76.8 ) 

Net Deferred Hedge Gains

     22        (148.8 )      (57.1 )      (60.9 )      (91.6 )      (87.8 ) 

Other

     23        (50.9 )      1.9        1.8        (52.8 )      (52.7 ) 
                                         
Total Deferred Tax Liabilities     24        (449.9 )      (32.6 )      (26.1 )      (417.2 )      (423.7 ) 
                                         

Net Deferred Tax Assets (Liabilities) [19 + 24]

     25        374.7        (86.9 )      (179.8 )      461.7        554.6   

Deferred Tax Assets corresponding to Taxable Income before Current Deductible Temporary Differences [9]

     26        940.4        (47.8 )      44.2        988.3        896.2   

Net Unrealized Gains on Other Securities [21]

     27        (63.2 )      17.3        13.6        (80.5 )      (76.8 ) 

Net Deferred Hedge Losses [14]

     28        2.7        (1.1 )      (1.2 )      3.9        4.0   

Net Deferred Hedge Gains [22]

     29        (148.8 )      (57.1 )      (60.9 )      (91.6 )      (87.8 ) 

Other (including Deferred Tax Assets corresponding to Remaining Taxable Income before Current Deductible Temporary Differences and others)

     30        (356.4 )      1.8        (175.5 )      (358.3 )      (180.9 ) 

 

* Amount related to Retirement Benefits Accounting includes ¥(120.5) billion related to gains on securities contributed to employee retirement benefit trust.

The above includes forward-looking information. See the disclaimer on the first page of this document.

 

3-43

 

IV. OTHERS

1. Breakdown of Deposits (Domestic Offices)

Non-Consolidated

Aggregated Figures of the 3 Banks

 

     (Billions of yen)  
     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31, 2010		     Change from
September 30,
2009		       

Deposits

      68,351.3         (1,116.7 )      272.7        69,468.0         68,078.6   

Individual Deposits

      35,160.2         61.4        257.7        35,098.8         34,902.5   

Corporate Deposits

      27,888.2         (562.1 )      (309.9 )      28,450.4         28,198.2   

Financial/Government Institutions

      5,302.8         (615.9 )      324.9        5,918.7         4,977.8   
Mizuho Bank             

Deposits

      54,648.7         (1,076.6 )      313.1        55,725.3         54,335.5   

Individual Deposits

      33,504.2         134.7        398.7        33,369.5         33,105.5   

Corporate Deposits

      18,513.7         (475.3 )      (237.2 )      18,989.0         18,750.9   

Financial/Government Institutions

      2,630.7         (736.0 )      151.6        3,366.8         2,479.0   
Mizuho Corporate Bank             

Deposits

      11,385.3         147.8        210.3        11,237.5         11,175.0   

Individual Deposits

      3.6         0.0        0.6        3.6         3.0   

Corporate Deposits

      8,817.3         (71.1 )      (81.9 )      8,888.5         8,899.2   

Financial/Government Institutions

      2,564.3         218.9        291.6        2,345.4         2,272.7   
Mizuho Trust & Banking             

Deposits

      2,317.2         (187.9 )      (250.7 )      2,505.1         2,567.9   

Individual Deposits

      1,652.3         (73.3 )      (141.6 )      1,725.7         1,793.9   

Corporate Deposits

      557.2         (15.7 )      9.2        572.9         547.9   

Financial/Government Institutions

      107.7         (98.7 )      (118.3 )      206.4         226.0   

 

* Above figures are before adjustment of transit accounts for inter-office transactions, and do not include deposits booked at overseas offices and offshore deposits.

 

3-44

 

2. Number of Directors and Employees

 

  *  

Figures are based on the information to be provided in Yuka Shoken Hokokusho.

Mizuho Financial Group, Inc. (Non-Consolidated)

 

     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31,
2010		     Change from
September
30, 2009		       

Members of the Board of Directors and Auditors

      14         —          —          14         14   

Executive Officers (excluding those doubling as directors)

      4         —          —          4         4   

Employees (excluding Executive Officers)

      306         12        7        294         299   

 

*Three members of the Board of Directors and Auditors double as directors of the banking subsidiaries.

   

Non-Consolidated

  

     As of September 30, 2010     As of
March 31,
2010		      As of
September 30,
2009		  

Aggregated Figures of the 3 Banks

 

           Change from
March 31,
2010		     Change from
September
30, 2009		       

Members of the Board of Directors and Auditors

      31         —          —          31         31   

Executive Officers (excluding those doubling as directors)

      91         1        1        90         90   

Employees (excluding Executive Officers)

      31,196         779        101        30,417         31,095   

 

*The numbers have been adjusted for Members of the Board of Directors and Auditors doubling other positions.

   

Mizuho Bank

  

Members of the Board of Directors and Auditors

      10         (1 )      (1 )      11         11   

Executive Officers (excluding those doubling as directors)

      31         (1 )      (1 )      32         32   

Employees (excluding Executive Officers)

      19,518         575        29        18,943         19,489   
Mizuho Corporate Bank             

Members of the Board of Directors and Auditors

      10         (1 )      (1 )      11         11   

Executive Officers (excluding those doubling as directors)

      41         1        1        40         40   

Employees (excluding Executive Officers)

      8,290         143        62        8,147         8,228   
Mizuho Trust & Banking             

Members of the Board of Directors and Auditors

      13         2        2        11         11   

Executive Officers (excluding those doubling as directors)

      19         1        1        18         18   

Employees (excluding Executive Officers)

      3,388         61        10        3,327         3,378   

 

3-45

 

3. Number of Branches and Offices

Non-Consolidated

Aggregated Figures of the 3 Banks

 

     As of September 30, 2010      As of
March 31,
2010		      As of
September 30,
2009		  
            Change from
March 31,
2010		     Change from
September 30,
2009		        

Head Offices and Domestic Branches

      446         2        5         444         441   

Overseas Branches

      22         —          —           22         22   

Domestic Sub-Branches

      41         —          2         41         39   

Overseas Sub-Branches

      11         —          1         11         10   

Overseas Representative Offices

      6         —          —           6         6   

 

*   Head Offices and Domestic Branches do not include in-store branches (3), branches and offices for remittance purposes only (37), branches offering account transfer services only (2), branches and offices to maintain shared ATMs only (1), internet branches (1) and pension plan advisory offices (1).

    

Mizuho Bank   

Head Office and Domestic Branches

      392         1        4         391         388   

Overseas Branches

      —           —          —           —           —     

Domestic Sub-Branches

      37         (1 )      —           38         37   

Overseas Sub-Branches

      —           —          —           —           —     

Overseas Representative Offices

      —           —          —           —           —     

 

*   Head Offices and Domestic Branches do not include in-store branches (3), branches and offices for remittance purposes only (16), branches offering account transfer services only (2), branches and offices to maintain shared ATMs only (1), internet branches (1) and pension plan advisory offices (1).

    

Mizuho Corporate Bank   

Head Office and Domestic Branches

      18         —          —           18         18   

Overseas Branches

      22         —          —           22         22   

Domestic Sub-Branches

      —           —          —           —           —     

Overseas Sub-Branches

      11         —          1         11         10   

Overseas Representative Offices

      6         —          —           6         6   

 

*   Head Office and Domestic Branches do not include branches and offices for remittance purposes only (21).

  

Mizuho Trust & Banking   

Head Office and Domestic Branches

      36         1        1         35         35   

Overseas Branches

      —           —          —           —           —     

Domestic Sub-Branches

      4         1        2         3         2   

Overseas Sub-Branches

      —           —          —           —           —     

Overseas Representative Offices

      —           —          —           —           —     

 

3-46

4. Earnings Plan for Fiscal 2010

Consolidated

 

     (Billions of yen)  
     Fiscal 2010  

Ordinary Profits

      670.0   

Net Income

      500.0   

(Reference)

Mizuho Bank, Mizuho Corporate Bank, Mizuho Trust & Banking

Aggregated Figures of the 3 Banks (Non-consolidated)

 

     (Billions of yen)  
     Fiscal 2010  
     Aggregated Figures     MHBK     MHCB     MHTB  

Net Business Profits (before Reversal of (Provision for) General Reserve for Possible Losses on Loans)

      770.0        280.0        440.0        50.0   

Ordinary Profits

      555.0        150.0        370.0        35.0   

Net Income

      506.0        190.0        290.0        26.0   

Credit-related Costs

      (49.0 )      (40.0 )      (5.0 )      (4.0 ) 

 

* 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.

The above includes forward-looking information. See the disclaimer on the first page of this document.

 

3-47

 

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items) OF MIZUHO BANK

 

     Millions of yen  
     As of
September 30,
2010 (A)		     As of
September 30,
2009 (B)		     Change
(A) - (B)		     As of
March 31,
2010 (C)		      Change
(A) - (C)		  

Assets

            

Cash and Due from Banks

    ¥ 2,382,521      ¥ 2,612,329      ¥ (229,807 )    ¥ 2,638,336       ¥ (255,815 ) 

Call Loans

      8,640,000        8,640,000        —          9,040,000         (400,000 ) 

Guarantee Deposits Paid under Securities Borrowing Transactions

      733,274        472,522        260,752        262,417         470,857   

Other Debt Purchased

      1,106,455        1,499,940        (393,484 )      1,259,295         (152,839 ) 

Trading Assets

      1,274,349        1,367,736        (93,386 )      1,463,369         (189,019 ) 

Money Held in Trust

      1,020        1,111        (91 )      1,070         (50 ) 

Securities

      19,619,995        17,519,744        2,100,251        19,671,063         (51,067 ) 

Loans and Bills Discounted

      33,279,008        33,305,979        (26,970 )      32,467,647         811,361   

Foreign Exchange Assets

      120,347        123,760        (3,412 )      130,572         (10,224 ) 

Other Assets

      2,768,499        3,082,804        (314,305 )      2,889,486         (120,986 ) 

Tangible Fixed Assets

      739,312        697,877        41,434        727,740         11,571   

Intangible Fixed Assets

      190,659        145,354        45,304        178,964         11,694   

Deferred Tax Assets

      258,645        284,518        (25,872 )      250,847         7,798   

Customers’ Liabilities for Acceptances and Guarantees

      968,970        990,686        (21,716 )      997,665         (28,695 ) 

Reserves for Possible Losses on Loans

      (415,501 )      (464,940 )      49,439        (440,887 )       25,386   

Reserve for Possible Losses on Investments

      (13 )      (16 )      2        (26 )       12   
                                         

Total Assets

    ¥ 71,667,547      ¥ 70,279,409      ¥ 1,388,137      ¥ 71,537,565       ¥ 129,982   
                                         

Liabilities

            

Deposits

    ¥ 54,674,470      ¥ 54,372,942      ¥ 301,528      ¥ 55,761,093       ¥ (1,086,623 ) 

Negotiable Certificates of Deposit

      1,802,780        1,690,180        112,600        2,027,790         (225,010 ) 

Debentures

      780,097        854,892        (74,794 )      821,867         (41,769 ) 

Call Money

      1,535,700        1,983,200        (447,500 )      1,627,500         (91,800 ) 

Payables under Repurchase Agreements

      —          971,755        (971,755 )      635,326         (635,326 ) 

Guarantee Deposits Received under Securities Lending Transactions

      1,506,410        1,099,860        406,549        1,452,372         54,037   

Trading Liabilities

      306,789        270,691        36,098        247,136         59,652   

Borrowed Money

      4,457,731        2,754,413        1,703,318        3,019,909         1,437,822   

Foreign Exchange Liabilities

      13,394        9,191        4,202        10,040         3,353   

Short-term Bonds

      10,000        —          10,000        —           10,000   

Bonds and Notes

      819,800        884,300        (64,500 )      849,500         (29,700 ) 

Other Liabilities

      2,972,216        2,734,192        238,024        2,380,144         592,072   

Reserve for Bonus Payments

      8,644        8,391        252        8,647         (3 ) 

Reserve for Reimbursement of Deposits

      13,705        13,336        368        13,548         156   

Reserve for Reimbursement of Debentures

      11,615        9,760        1,855        10,824         790   

Deferred Tax Liabilities for Revaluation Reserve for Land

      77,346        77,464        (118 )      77,372         (26 ) 

Acceptances and Guarantees

      968,970        990,686        (21,716 )      997,665         (28,695 ) 
                                         

Total Liabilities

      69,959,673        68,725,259        1,234,414        69,940,741         18,931   
                                         

Net Assets

            

Common Stock and Preferred Stock

      700,000        700,000        —          700,000         —     

Capital Surplus

      681,432        681,432        —          681,432         —     

Capital Reserve

      490,707        490,707        —          490,707         —     

Other Capital Surplus

      190,725        190,725        —          190,725         —     

Retained Earnings

      216,543        53,842        162,700        96,147         120,395   

Appropriated Reserve

      1,332        —          1,332        —           1,332   

Other Retained Earnings

      215,210        53,842        161,368        96,147         119,062   

Retained Earnings Brought Forward

      215,210        53,842        161,368        96,147         119,062   
                                         

Total Shareholders’ Equity

      1,597,975        1,435,275        162,700        1,477,580         120,395   
                                         

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      (16,891 )      (402 )      (16,488 )      (7,084 )       (9,807 ) 

Net Deferred Hedge Gains (Losses), net of Taxes

      17,897        10,212        7,685        17,395         501   

Revaluation Reserve for Land, net of Taxes

      108,892        109,065        (173 )      108,931         (39 ) 
                                         

Total Valuation and Translation Adjustments

      109,898        118,874        (8,976 )      119,242         (9,344 ) 
                                         

Total Net Assets

      1,707,874        1,554,150        153,723        1,596,823         111,050   
                                         

Total Liabilities and Net Assets

    ¥ 71,667,547      ¥ 70,279,409      ¥ 1,388,137      ¥ 71,537,565       ¥ 129,982   
                                         

 

3-48

 

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME (selected items) OF MIZUHO BANK

 

     Millions of yen  
     For the six
months ended
September 30, 2010
(A)		     For the six
months ended
September 30, 2009
(B)		     Change
(A) - (B)		     For the fiscal
year ended
March 31, 2010		  

Ordinary Income

    ¥ 549,489      ¥ 592,766      ¥ (43,277 )    ¥ 1,129,427   

Interest Income

      345,453        394,869        (49,415 )      765,263   

Interest on Loans and Bills Discounted

      241,530        274,115        (32,585 )      526,434   

Interest and Dividends on Securities

      57,170        65,604        (8,433 )      139,345   

Fee and Commission Income

      104,809        97,911        6,898        201,229   

Trading Income

      42,663        44,864        (2,201 )      43,175   

Other Operating Income

      41,420        22,534        18,885        69,731   

Other Ordinary Income

      15,142        32,587        (17,445 )      50,027   
                                

Ordinary Expenses

      460,205        573,692        (113,486 )      1,040,552   

Interest Expenses

      59,568        83,111        (23,542 )      152,337   

Interest on Deposits

      30,220        48,500        (18,280 )      86,260   

Interest on Debentures

      1,607        1,695        (88 )      3,385   

Fee and Commission Expenses

      30,921        29,356        1,565        52,861   

Other Operating Expenses

      22,164        39,489        (17,325 )      55,364   

General and Administrative Expenses

      304,627        316,441        (11,813 )      633,240   

Other Ordinary Expenses

      42,923        105,293        (62,369 )      146,748   
                                

Ordinary Profits

      89,283        19,074        70,209        88,875   
                                

Extraordinary Gains

      28,702        17,017        11,685        26,713   
                                

Extraordinary Losses

      3,390        1,880        1,510        5,698   
                                

Income before Income Taxes

      114,595        34,211        80,384        109,890   

Income Taxes:

         

Current

      247        271        (23 )      498   

Deferred

      (12,669 )      (19,892 )      7,223        13,387   
                                

Net Income

    ¥ 127,017      ¥ 53,833      ¥ 73,184      ¥ 96,004   
                                

 

3-49

 

NON-CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS OF MIZUHO BANK

 

    Millions of yen  
    Shareholders’ Equity  
          Capital Surplus     Retained Earnings              
     Common
Stock and
Preferred
Stock		     Capital
Reserve		     Other
Capital
Surplus		     Total
Capital
Surplus		     Appropriated
Reserve		     Other
Retained
Earnings		     Total
Retained
Earnings		     Treasury
Stock		     Total
Shareholders’
Equity		  
            Retained
Earnings
Brought
Forward		        

Balance as of March 31, 2010

   ¥ 700,000      ¥ 490,707      ¥ 190,725      ¥ 681,432        —        ¥ 96,147      ¥ 96,147        —        ¥ 1,477,580   
                                                                       

Changes during the period

                  

Cash Dividends

     —          —          —          —          1,332        (7,993)        (6,661)        —          (6,661)   

Net Income

     —          —          —          —          —          127,017        127,017        —          127,017   

Transfer from Revaluation Reserve for Land, net of Taxes

     —          —          —          —          —          39        39        —          39   

Net Changes in Items other than Shareholders’ Equity

     —          —          —          —          —          —          —          —          —     
                                                                       

Total Changes during the period

     —          —          —          —          1,332        119,062        120,395        —          120,395   
                                                                       

Balance as of September 30, 2010

   ¥ 700,000      ¥ 490,707      ¥ 190,725      ¥ 681,432      ¥ 1,332      ¥ 215,210      ¥ 216,543        —        ¥ 1,597,975   
                                                                       

 

    Millions of yen  
    Valuation and Translation Adjustments        
     Net
Unrealized
Gains
(Losses) on
Other
Securities,
net of  Taxes		     Net
Deferred
Hedge
Gains
(Losses), net
of Taxes		     Revaluation
Reserve for
Land, net of
Taxes		     Total
Valuation
and
Translation
Adjustments		     Total Net
Assets		  
         

Balance as of March 31, 2010

   ¥ (7,084)      ¥ 17,395      ¥ 108,931      ¥ 119,242      ¥ 1,596,823   
                                       

Changes during the period

          

Cash Dividends

     —          —          —          —          (6,661)   

Net Income

     —          —          —          —          127,017   

Transfer from Revaluation Reserve for Land, net of Taxes

     —          —          —          —          39   

Net Changes in Items other than Shareholders’ Equity

     (9,807)        501        (39)        (9,344)        (9,344)   
                                       

Total Changes during the period

     (9,807)        501        (39)        (9,344)        111,050   
                                       

Balance as of September 30, 2010

   ¥ (16,891)      ¥ 17,897      ¥ 108,892      ¥ 109,898      ¥ 1,707,874   
                                       

 

3-50

 

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items) OF MIZUHO CORPORATE BANK

 

     Millions of yen  
     As of
September 30,
2010 (A)		      As of
September 30,
2009 (B)		      Change
(A) - (B)		      As of
March 31,
2010 (C)		      Change
(A) - (C)		  

Assets

               

Cash and Due from Banks

    ¥ 2,042,834       ¥ 3,324,857       ¥ (1,282,022)       ¥ 3,384,257       ¥ (1,341,422)   

Call Loans

      212,036         137,302         74,734         165,356         46,680   

Receivables under Resale Agreements

      1,246,495         1,183,058         63,437         1,122,332         124,163   

Guarantee Deposits Paid under Securities Borrowing Transactions

      1,777,801         1,051,746         726,054         1,330,552         447,249   

Other Debt Purchased

      83,774         145,268         (61,494)         124,986         (41,212)   

Trading Assets

      5,414,879         6,297,171         (882,291)         4,678,323         736,555   

Money Held in Trust

      2,024         2,024         0         2,024         (0)   

Securities

      23,233,677         18,888,160         4,345,517         22,362,394         871,283   

Loans and Bills Discounted

      25,426,700         27,352,921         (1,926,220)         26,355,649         (928,949)   

Foreign Exchange Assets

      579,300         379,124         200,176         486,366         92,934   

Derivatives other than for Trading

      8,355,847         8,661,971         (306,123)         8,151,045         204,802   

Other Assets

      1,578,091         2,006,312         (428,221)         1,958,835         (380,743)   

Tangible Fixed Assets

      105,024         113,080         (8,055)         98,976         6,048   

Intangible Fixed Assets

      76,391         83,302         (6,911)         83,608         (7,217)   

Deferred Tax Assets

      96,933         234,576         (137,643)         183,238         (86,305)   

Customers’ Liabilities for Acceptances and Guarantees

      3,040,475         3,494,326         (453,851)         3,427,807         (387,332)   

Reserves for Possible Losses on Loans

      (284,231)         (345,566)         61,335         (311,750)         27,519   

Reserve for Possible Losses on Investments

      (4,828)         (11,102)         6,274         (5,276)         448   
                                            

Total Assets

    ¥ 72,983,231       ¥ 72,998,535       ¥ (15,303)       ¥ 73,598,729       ¥ (615,498)   
                                            

Liabilities

               

Deposits

    ¥ 19,208,618       ¥ 18,773,028       ¥ 435,590       ¥ 18,811,356       ¥ 397,262   

Negotiable Certificates of Deposit

      9,040,140         6,831,761         2,208,379         7,748,218         1,291,921   

Debentures

      347,430         1,062,550         (715,120)         695,930         (348,500)   

Call Money

      11,498,960         11,891,867         (392,907)         11,830,952         (331,992)   

Payables under Repurchase Agreements

      4,487,419         4,624,724         (137,304)         4,270,983         216,435   

Guarantee Deposits Received under Securities Lending Transactions

      1,579,528         1,723,810         (144,281)         2,523,792         (944,263)   

Trading Liabilities

      4,353,770         4,309,559         44,211         3,805,392         548,378   

Borrowed Money

      3,827,092         5,909,734         (2,082,641)         6,033,926         (2,206,833)   

Foreign Exchange Liabilities

      225,136         224,426         709         201,637         23,498   

Short-term Bonds

      162,000         170,200         (8,200)         144,700         17,300   

Bonds and Notes

      2,946,969         2,445,774         501,194         2,688,063         258,906   

Derivatives other than for Trading

      7,659,779         7,961,960         (302,180)         7,874,654         (214,875)   

Other Liabilities

      1,603,234         899,408         703,825         688,300         914,933   

Reserve for Bonus Payments

      5,127         6,559         (1,431)         8,474         (3,346)   

Reserve for Possible Losses on Sales of Loans

      2,815         27,666         (24,851)         15,258         (12,443)   

Reserve for Contingencies

      1,034         2,427         (1,392)         1,688         (653)   

Deferred Tax Liabilities for Revaluation Reserve for Land

      21,237         26,217         (4,979)         21,502         (264)   

Acceptances and Guarantees

      3,040,475         3,494,326         (453,851)         3,427,807         (387,332)   
                                            

Total Liabilities

      70,010,772         70,386,004         (375,231)         70,792,641         (781,868)   
                                            

Net Assets

               

Common Stock and Preferred Stock

      1,404,065         1,404,065         —           1,404,065         —     

Capital Surplus

      663,434         663,434         —           663,434         —     

Capital Reserve

      578,540         578,540         —           578,540         —     

Other Capital Surplus

      84,893         84,893         —           84,893         —     

Retained Earnings

      664,303         315,749         348,554         454,970         209,333   

Appropriated Reserve

      1,355         —           1,355         —           1,355   

Other Retained Earnings

      662,947         315,749         347,198         454,970         207,977   

Retained Earnings Brought Forward

      662,947         315,749         347,198         454,970         207,977   
                                            

Total Shareholders’ Equity

      2,731,802         2,383,248         348,554         2,522,469         209,333   
                                            

Net Unrealized Gains (Losses) on Other Securities, net of Taxes

      12,483         74,851         (62,368)         137,595         (125,112)   

Net Deferred Hedge Gains (Losses), net of Taxes

      199,111         118,048         81,062         116,523         82,587   

Revaluation Reserve for Land, net of Taxes

      29,060         36,382         (7,321)         29,498         (438)   
                                            

Total Valuation and Translation Adjustments

      240,655         229,282         11,372         283,618         (42,963)   
                                            

Total Net Assets

      2,972,458         2,612,530         359,927         2,806,088         166,370   
                                            

Total Liabilities and Net Assets

    ¥ 72,983,231       ¥ 72,998,535       ¥ (15,303)       ¥ 73,598,729       ¥ (615,498)   
                                            

 

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COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME (selected items) OF MIZUHO CORPORATE BANK

 

     Millions of yen  
     For the six
months ended
September 30, 2010
(A)		      For the six
months ended
September 30, 2009
(B)		      Change
(A) - (B)		     For the fiscal
year ended
March 31, 2010		  

Ordinary Income

    ¥ 598,793       ¥ 607,607       ¥ (8,813 )    ¥ 1,141,245   

Interest Income

      340,122         407,892         (67,769 )      774,416   

Interest on Loans and Bills Discounted

      168,126         222,225         (54,099 )      413,646   

Interest and Dividends on Securities

      119,547         141,028         (21,480 )      270,627   

Fee and Commission Income

      67,806         67,622         183        138,458   

Trading Income

      46,193         47,439         (1,246 )      89,250   

Other Operating Income

      121,456         31,260         90,195        64,744   

Other Ordinary Income

      23,216         53,392         (30,176 )      74,374   
                                  

Ordinary Expenses

      348,314         540,059         (191,744 )      947,564   

Interest Expenses

      135,288         182,233         (46,944 )      329,594   

Interest on Deposits

      24,472         38,610         (14,137 )      67,081   

Interest on Debentures

      2,379         5,033         (2,653 )      8,589   

Fee and Commission Expenses

      11,315         12,078         (762 )      24,983   

Other Operating Expenses

      31,756         41,261         (9,504 )      69,996   

General and Administrative Expenses

      127,263         135,704         (8,441 )      273,446   

Other Ordinary Expenses

      42,690         168,781         (126,090 )      249,543   
                                  

Ordinary Profits

      250,479         67,547         182,931        193,680   
                                  

Extraordinary Gains

      22,051         11,149         10,901        18,974   
                                  

Extraordinary Losses

      3,021         2,527         494        3,690   
                                  

Income before Income Taxes

      269,508         76,170         193,338        208,964   

Income Taxes:

           

Current

      4,670         502         4,168        439   

Deferred

      49,142         7,666         41,476        8,185   
                                  

Net Income

    ¥ 215,695       ¥ 68,001       ¥ 147,693      ¥ 200,339   
                                  

 

3-52

 

NON-CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS OF MIZUHO CORPORATE BANK

 

    Millions of yen  
    Shareholders’ Equity  
          Capital Surplus     Retained Earnings              
    Common
Stock and
Preferred
Stock		     Capital
Reserve		     Other
Capital
Surplus		     Total
Capital
Surplus		     Appropriated
Reserve		     Other
Retained
Earnings		     Total
Retained
Earnings		     Treasury
Stock		     Total
Shareholders’
Equity		  
            Retained
Earnings
Brought
Forward		        

Balance as of March 31, 2010

   ¥ 1,404,065      ¥ 578,540      ¥ 84,893      ¥ 663,434        —        ¥ 454,970      ¥ 454,970        —        ¥ 2,522,469   
                                                                       

Changes during the period

                  

Cash Dividends

     —          —          —          —          1,355        (8,134 )      (6,778 )      —          (6,778 ) 

Net Income

     —          —          —          —          —          215,695        215,695        —          215,695   

Transfer from Revaluation Reserve for Land, net of Taxes

     —          —          —          —          —          416        416        —          416   

Net Changes in Items other than Shareholders’ Equity

     —          —          —          —          —          —          —          —          —     
                                                                       

Total Changes during the period

     —          —          —          —          1,355        207,977        209,333        —          209,333   

Balance as of September 30, 2010

   ¥ 1,404,065      ¥ 578,540      ¥ 84,893      ¥ 663,434      ¥ 1,355      ¥ 662,947      ¥ 664,303        —        ¥ 2,731,802   
                                                                       

 

    Millions of yen  
    Valuation and Translation Adjustments        
    Net
Unrealized
Gains
(Losses)
on Other
Securities,
net of
Taxes		     Net
Deferred
Hedge
Gains
(Losses),
net of
Taxes		     Revaluation
Reserve for
Land, net
of Taxes		     Total
Valuation
and
Translation
Adjustments		     Total Net
Assets		  
         

Balance as of March 31, 2010

   ¥ 137,595      ¥ 116,523      ¥ 29,498      ¥ 283,618      ¥ 2,806,088   
                                       

Changes during the period

          

Cash Dividends

     —          —          —          —          (6,778 ) 

Net Income

     —          —          —          —          215,695   

Transfer from Revaluation Reserve for Land, net of Taxes

     —          —          —          —          416   

Net Changes in Items other than Shareholders’ Equity

     (125,112 )      82,587        (438 )      (42,963 )      (42,963 ) 
                                       

Total Changes during the period

     (125,112 )      82,587        (438 )      (42,963 )      166,370   

Balance as of September 30, 2010

   ¥ 12,483      ¥ 199,111      ¥ 29,060      ¥ 240,655      ¥ 2,972,458   
                                       

 

3-53