Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2016shares | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2016 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | FY |
Trading Symbol | MFG |
Entity Registrant Name | MIZUHO FINANCIAL GROUP INC |
Entity Central Index Key | 1,335,730 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 25,030,525,657 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Assets: | ||
Cash and due from banks | ¥ 1,322,597 | ¥ 1,528,306 |
Interest-bearing deposits in other banks | 35,327,408 | 27,852,853 |
Call loans and funds sold | 893,545 | 444,115 |
Receivables under resale agreements (Note 28) | 7,805,643 | 8,582,026 |
Receivables under securities borrowing transactions (Note 28) | 3,407,391 | 4,059,341 |
Trading account assets | 30,020,743 | 29,416,024 |
Investments: | ||
Available-for-sale securities (including assets pledged that secured parties are permitted to sell or repledge of ¥776,660 million in 2015 and ¥513,054 million in 2016) | 25,452,525 | 27,070,710 |
Held-to-maturity securities (including assets pledged that secured parties are permitted to sell or repledge of ¥1,272,433 million in 2015 and ¥1,238,965 million in 2016) | 4,818,961 | 5,647,341 |
Other investments | 613,446 | 697,687 |
Loans (Notes 4, 5, 8 and 27) | 77,555,369 | 78,048,276 |
Allowance for loan losses | (451,247) | (520,259) |
Loans, net of allowance | 77,104,122 | 77,528,017 |
Premises and equipment-net (Note 6) | 1,837,990 | 1,632,485 |
Due from customers on acceptances | 109,567 | 139,011 |
Accrued income | 274,226 | 280,010 |
Goodwill (Note 7) | 19,097 | 11,703 |
Intangible assets (Note 7) | 48,651 | 53,580 |
Deferred tax assets (Note 19) | 57,349 | 57,921 |
Other | 4,702,285 | 5,118,604 |
Total | 193,815,546 | 190,119,734 |
Liabilities and equity: | ||
Noninterest-bearing deposits | 16,108,032 | 13,576,340 |
Interest-bearing deposits | 79,596,483 | 78,187,584 |
Noninterest-bearing deposits | 1,601,417 | 1,358,121 |
Interest-bearing deposits | 20,631,790 | 21,084,396 |
Due to trust accounts (Note 10) | 4,467,305 | 1,241,101 |
Call money and funds purchased | 2,521,009 | 5,091,198 |
Payables under repurchase agreements (Notes 28 and 29) | 16,833,263 | 19,612,021 |
Payables under securities lending transactions (Notes 28 and 29) | 2,844,653 | 2,462,315 |
Other short-term borrowings | 2,080,039 | 1,582,597 |
Trading account liabilities | 17,111,142 | 16,471,857 |
Bank acceptances outstanding | 109,567 | 139,011 |
Income taxes payable | 96,710 | 158,748 |
Deferred tax liabilities (Note 19) | 201,859 | 293,956 |
Accrued expenses | 181,441 | 153,541 |
Long-term debt | 14,770,922 | 14,582,241 |
Other | 6,476,723 | 5,934,863 |
Total | 185,632,355 | 181,929,890 |
Commitments and contingencies (Note 23) | ||
MHFG shareholders' equity: | ||
Preferred stock (Note 13) | 98,924 | 213,121 |
Common stock (Note 14)-no par value, authorized 48,000,000,000 shares in 2015 and 2016, and issued 24,621,897,967 shares in 2015, and 25,030,525,657 shares in 2016 | 5,703,144 | 5,590,396 |
Retained earnings | 746,785 | 89,432 |
Accumulated other comprehensive income, net of tax (Note 16) | 1,469,308 | 2,041,005 |
Less: Treasury stock, at cost-Common stock 11,649,262 shares in 2015, and 10,929,211 shares in 2016 | (3,610) | (3,616) |
Total MHFG shareholders' equity | 8,014,551 | 7,930,338 |
Noncontrolling interests | 168,640 | 259,506 |
Total equity | 8,183,191 | 8,189,844 |
Total | 193,815,546 | 190,119,734 |
Consolidated VIEs | ||
Assets: | ||
Cash and due from banks | 51,304 | 79,408 |
Interest-bearing deposits in other banks | 85,976 | 12,267 |
Trading account assets | 1,639,050 | 1,877,877 |
Investments: | ||
Investments | 40,732 | 47,505 |
Loans, net of allowance | 2,255,409 | 2,817,142 |
Other | 620,008 | 1,050,504 |
Total | 4,692,479 | 5,884,703 |
Liabilities and equity: | ||
Other short-term borrowings | 292,614 | 311,334 |
Trading account liabilities | 2,293 | |
Long-term debt | 411,679 | 250,448 |
Other | 967,141 | 1,492,914 |
Total | ¥ 1,671,434 | ¥ 2,056,989 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Trading account assets, assets pledged that secured parties are permitted to sell or repledge | ¥ 7,020,645 | ¥ 7,645,031 |
Available-for-sale securities, assets pledged that secured parties are permitted to sell or repledge | 513,054 | 776,660 |
Held-to-maturity securities, assets pledged that secured parties are permitted to sell or repledge | 1,238,965 | 1,272,433 |
Long-term debt, liabilities accounted for at fair value | ¥ 1,055,626 | ¥ 739,727 |
Common stock, par value | ¥ 0 | ¥ 0 |
Common stock, authorized | 48,000,000,000 | 48,000,000,000 |
Common stock, issued | 25,030,525,657 | 24,621,897,967 |
Treasury stock, shares | 10,929,211 | 11,649,262 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Interest and dividend income: | ||||
Loans, including fees | ¥ 1,030,802 | ¥ 988,236 | ¥ 982,402 | |
Investments: | ||||
Interest | 110,411 | 130,626 | 131,295 | |
Dividends | 79,600 | 74,673 | 72,052 | |
Trading account assets | 151,278 | 174,458 | 161,212 | |
Call loans and funds sold | 6,983 | 7,555 | 5,949 | |
Receivables under resale agreements and securities borrowing transactions | 53,007 | 33,379 | 36,281 | |
Deposits | 68,090 | 48,732 | 33,608 | |
Total interest and dividend income | 1,500,171 | 1,457,659 | 1,422,799 | |
Interest expense: | ||||
Deposits | 213,601 | 149,776 | 133,140 | |
Trading account liabilities | 21,031 | 31,402 | 30,746 | |
Call money and funds purchased | 7,830 | 7,545 | 7,664 | |
Payables under repurchase agreements and securities lending transactions | 66,579 | 36,641 | 36,906 | |
Other short-term borrowings | 6,791 | 7,490 | 12,120 | |
Long-term debt | 179,575 | 179,128 | 180,989 | |
Total interest expense | 495,407 | 411,982 | 401,565 | |
Net interest income | 1,004,764 | 1,045,677 | 1,021,234 | |
Provision (credit) for loan losses (Notes 4 and 5) | 34,560 | (60,223) | (126,230) | |
Net interest income after provision (credit) for loan losses | 970,204 | 1,105,900 | 1,147,464 | |
Noninterest income: | ||||
Fee and commission income (Note 25) | 742,953 | 715,657 | 675,763 | |
Foreign exchange gains (losses)-net (Note 26) | [1] | 113,553 | (34,520) | 25,631 |
Trading account gains (losses)-net (Note 26) | 559,139 | 689,959 | (59,687) | |
Investment gains (losses)-net (Note 3) | 263,793 | 271,174 | 237,556 | |
Equity in earnings (losses) of equity method investees-net | 28,969 | 17,502 | 27,975 | |
Gains on disposal of premises and equipment | 10,223 | 2,754 | 10,460 | |
Other noninterest income (Note 22) | 165,264 | 138,689 | 165,136 | |
Total noninterest income | 1,883,894 | 1,801,215 | 1,082,834 | |
Noninterest expenses: | ||||
Salaries and employee benefits (Note 20) | 633,557 | 605,454 | 586,737 | |
General and administrative expenses | 548,027 | 530,365 | 486,772 | |
Impairment of goodwill (Note 7) | 6,222 | 3,792 | ||
Occupancy expenses | 195,898 | 189,004 | 172,566 | |
Fee and commission expenses | 146,107 | 134,395 | 122,419 | |
Provision (credit) for losses on off-balance-sheet instruments (Note 23) | (16,447) | (2,827) | 12,095 | |
Other noninterest expenses (Notes 4 and 22) | 144,129 | 183,071 | 119,574 | |
Total noninterest expenses | 1,657,493 | 1,639,462 | 1,503,955 | |
Income before income tax expense | 1,196,605 | 1,267,653 | 726,343 | |
Income tax expense (Note 19) | 346,542 | 437,420 | 226,108 | |
Net income | 850,063 | 830,233 | 500,235 | |
Less: Net income (loss) attributable to noncontrolling interests | (429) | 27,185 | 1,751 | |
Net income attributable to MHFG shareholders | ¥ 850,492 | ¥ 803,048 | ¥ 498,484 | |
Earnings per common share (Note 18): | ||||
Basic net income per common share | ¥ 34.19 | ¥ 32.75 | ¥ 20.33 | |
Diluted net income per common share | ¥ 33.50 | ¥ 31.64 | ¥ 19.64 | |
[1] | Amounts include realized and unrealized gains and losses on both derivative instruments and nonderivative instruments, such as translation gains and losses related to foreign currency-denominated available-for-sale securities for which the fair value option has been elected in accordance with ASC 825. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Net income | ¥ 850,063 | ¥ 830,233 | ¥ 500,235 |
Other comprehensive income (loss), net of tax: | |||
Net unrealized gains (losses) on available-for-sale securities, net of tax (Note 3) | (338,822) | 622,975 | 137,128 |
Foreign currency translation adjustments, net of tax | (123,221) | 136,299 | 76,104 |
Pension liability adjustments, net of tax (Note 20) | (111,599) | 163,338 | 136,942 |
Total other comprehensive income (loss), net of tax | (573,642) | 922,612 | 350,174 |
Total comprehensive income | 276,421 | 1,752,845 | 850,409 |
Less: Total comprehensive income (loss) attributable to noncontrolling interests | (2,373) | 26,669 | 12,045 |
Total comprehensive income attributable to MHFG shareholders | ¥ 278,794 | ¥ 1,726,176 | ¥ 838,364 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - JPY (¥) ¥ in Millions | Total | Preferred stock (Note 13): | Common stock (Note 14): | Retained earnings (Accumulated deficit): | Accumulated other comprehensive income, net of tax (Note 16): | Treasury stock, at cost: | Total MHFG shareholders' equity | Noncontrolling interests: |
Balance at beginning of fiscal year at Mar. 31, 2013 | ¥ 377,354 | ¥ 5,460,821 | ¥ (883,390) | ¥ 777,997 | ¥ (4,662) | ¥ 128,975 | ||
Effect of other increase/decrease in consolidated subsidiaries | 113,887 | |||||||
Issuance of new shares of common stock due to conversion of preferred stock | 28,013 | |||||||
Net income attributable to MHFG shareholders | ¥ 500,235 | 498,484 | ||||||
Purchases of treasury stock | (37,387) | |||||||
Conversion to common stock | (28,013) | |||||||
Change during year | 339,880 | 339,880 | ||||||
Dividends paid to noncontrolling interests | (12,006) | |||||||
Dividends declared | (152,265) | (152,265) | ||||||
Disposal of treasury stock | 1,177 | |||||||
Net income (loss) attributable to noncontrolling interests | (1,751) | 1,751 | ||||||
Gains (losses) on disposal of treasury stock | (31) | |||||||
Cancellation of treasury stock | 36,998 | |||||||
Net unrealized gains (losses) on available-for-sale securities attributable to noncontrolling interests | 8,980 | |||||||
Stock-based compensation (Note 21) | 492 | |||||||
Cancellation of preferred stock | (36,690) | (308) | ||||||
Foreign currency translation adjustments attributable to noncontrolling interests | 118 | |||||||
Pension liability adjustments attributable to noncontrolling interests | 1,196 | |||||||
Balance at end of fiscal year at Mar. 31, 2014 | 6,621,371 | 312,651 | 5,489,295 | (537,479) | 1,117,877 | (3,874) | ¥ 6,378,470 | 242,901 |
Effect of other increase/decrease in consolidated subsidiaries | (6,128) | |||||||
Issuance of new shares of common stock due to conversion of preferred stock | 99,530 | |||||||
Net income attributable to MHFG shareholders | 830,233 | 803,048 | ||||||
Purchases of treasury stock | (274) | |||||||
Conversion to common stock | (99,530) | |||||||
Change during year | 923,128 | 923,128 | ||||||
Dividends paid to noncontrolling interests | (3,936) | |||||||
Issuance of new shares of common stock due to exercise of stock acquisition rights | 864 | |||||||
Dividends declared | (176,137) | (176,137) | ||||||
Disposal of treasury stock | 532 | |||||||
Net income (loss) attributable to noncontrolling interests | (27,185) | 27,185 | ||||||
Gains (losses) on disposal of treasury stock | 67 | |||||||
Net unrealized gains (losses) on available-for-sale securities attributable to noncontrolling interests | (1,360) | |||||||
Stock-based compensation (Note 21) | 640 | |||||||
Foreign currency translation adjustments attributable to noncontrolling interests | 686 | |||||||
Pension liability adjustments attributable to noncontrolling interests | 158 | |||||||
Balance at end of fiscal year at Mar. 31, 2015 | 8,189,844 | 213,121 | 5,590,396 | 89,432 | 2,041,005 | (3,616) | 7,930,338 | 259,506 |
Effect of other increase/decrease in consolidated subsidiaries | (85,809) | |||||||
Issuance of new shares of common stock due to conversion of preferred stock | 114,197 | |||||||
Net income attributable to MHFG shareholders | 850,063 | 850,492 | ||||||
Purchases of treasury stock | (653) | |||||||
Conversion to common stock | (114,197) | |||||||
Change during year | (571,697) | (571,697) | ||||||
Dividends paid to noncontrolling interests | (2,683) | |||||||
Issuance of new shares of common stock due to exercise of stock acquisition rights | 772 | |||||||
Dividends declared | (195,265) | (195,265) | ||||||
Disposal of treasury stock | 659 | |||||||
Net income (loss) attributable to noncontrolling interests | 429 | (429) | ||||||
Gains (losses) on disposal of treasury stock | 82 | |||||||
Net unrealized gains (losses) on available-for-sale securities attributable to noncontrolling interests | (674) | |||||||
Stock-based compensation (Note 21) | (1,058) | |||||||
Foreign currency translation adjustments attributable to noncontrolling interests | (352) | |||||||
Change in ownership interest in consolidated subsidiaries | (1,245) | |||||||
Other | 2,126 | |||||||
Pension liability adjustments attributable to noncontrolling interests | (919) | |||||||
Balance at end of fiscal year at Mar. 31, 2016 | ¥ 8,183,191 | ¥ 98,924 | ¥ 5,703,144 | ¥ 746,785 | ¥ 1,469,308 | ¥ (3,610) | ¥ 8,014,551 | ¥ 168,640 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | ¥ 850,063 | ¥ 830,233 | ¥ 500,235 |
Less: Net income (loss) attributable to noncontrolling interests | (429) | 27,185 | 1,751 |
Net income attributable to MHFG shareholders | 850,492 | 803,048 | 498,484 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 167,930 | 166,528 | 161,258 |
Provision (credit) for loan losses | 34,560 | (60,223) | (126,230) |
Investment losses (gains)-net | (263,793) | (271,174) | (237,556) |
Equity in losses (earnings) of equity method investees-net | (28,969) | (17,502) | (27,975) |
Foreign exchange losses (gains)-net | (225,130) | 357,103 | 127,254 |
Deferred income tax expense (benefit) | 123,125 | 181,990 | 90,375 |
Net change in trading account assets | (778,204) | (2,121,400) | 7,205,841 |
Net change in trading account liabilities | 916,958 | 1,333,577 | (2,359,775) |
Net change in loans held for sale | (27,347) | 56,549 | (53,291) |
Net change in accrued income | (2,441) | (7,531) | 21,735 |
Net change in accrued expenses | (26,425) | 87,157 | 12,262 |
Other-net | (499,046) | 697,804 | 638,926 |
Net cash provided by operating activities | 241,710 | 1,205,926 | 5,951,308 |
Cash flows from investing activities: | |||
Proceeds from sales of investments | 19,830,288 | 58,629,117 | 64,003,905 |
Proceeds from maturities of investments | 8,669,730 | 6,107,552 | 9,862,926 |
Purchases of investments | (25,046,188) | (61,507,248) | (65,822,738) |
Proceeds from sales of loans | 197,898 | 651,339 | 215,419 |
Net change in loans | (1,923,627) | (2,800,196) | (2,313,291) |
Net change in interest-bearing deposits in other banks | (7,750,251) | (8,189,150) | (7,417,572) |
Net change in call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 385,134 | 1,813,089 | 2,306,310 |
Proceeds from sales of premises and equipment | 47,506 | 41,521 | 39,324 |
Purchases of premises and equipment | (388,565) | (419,912) | (456,980) |
Net cash provided by (used in) investing activities | (5,978,075) | (5,673,888) | 417,303 |
Cash flows from financing activities: | |||
Net change in deposits | 5,441,731 | 9,460,669 | 657,308 |
Net change in call money and funds purchased, and payables under repurchase agreements and securities lending transactions | (3,900,502) | (5,376,701) | (6,771,338) |
Net change in due to trust accounts | 3,226,204 | 499,065 | 122,765 |
Net change in other short-term borrowings | 571,901 | (4,480,378) | (724,788) |
Proceeds from issuance of long-term debt | 2,723,168 | 6,537,703 | 1,999,764 |
Repayment of long-term debt | (2,307,082) | (2,196,492) | (1,097,627) |
Proceeds from noncontrolling interests | 1,354 | 891 | 43,083 |
Payment to noncontrolling interests | (86) | (1) | (1) |
Proceeds from issuance of common stock | 5 | 6 | |
Proceeds from sales of treasury stock | 3 | 3 | 11 |
Purchases of treasury stock | (13) | (12) | (37,013) |
Dividends paid | (195,283) | (176,186) | (152,163) |
Dividends paid to noncontrolling interests | (2,683) | (3,936) | (12,006) |
Net cash provided by (used in) financing activities | 5,558,717 | 4,264,631 | (5,972,005) |
Effect of exchange rate changes on cash and due from banks | (28,061) | 34,758 | 31,831 |
Net increase (decrease) in cash and due from banks | (205,709) | (168,573) | 428,437 |
Cash and due from banks at beginning of fiscal year | 1,528,306 | 1,696,879 | 1,268,442 |
Cash and due from banks at end of fiscal year | 1,322,597 | 1,528,306 | 1,696,879 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 435,584 | 419,070 | 408,803 |
Income taxes paid | 269,364 | 172,022 | 122,619 |
Noncash investing activities: | |||
Transfer of loans into other investments | 63,420 | 2,414 | |
Investment in capital leases | ¥ 16,123 | ¥ 8,184 | ¥ 7,901 |
Basis of presentation and summa
Basis of presentation and summary of significant accounting policies | 12 Months Ended |
Mar. 31, 2016 | |
Basis of presentation and summary of significant accounting policies | 1. Basis of presentation and summary of significant accounting policies Basis of presentation Mizuho Financial Group, Inc. (“MHFG”) is a joint stock corporation with limited liability under the laws of Japan. MHFG, through its subsidiaries (“the MHFG Group”, or “the Group”), provides domestic and international financial services in Japan and other countries. MHFG’s subsidiaries are segmented on the basis of the nature of the financial products and services. Mizuho Bank, Ltd. (“MHBK”) is a banking subsidiary and offers a wide range of financial products and services mainly in relation to deposits, lending and exchange settlement to individuals, small and medium enterprises (“SMEs”), large corporations, financial institutions, public sector entities and foreign corporations, including foreign subsidiaries of Japanese corporations. Mizuho Trust & Banking Co., Ltd. (“MHTB”) is a trust bank subsidiary and offers mainly trust-related products and consulting services. Mizuho Securities Co., Ltd. (“MHSC”) is a securities and investment banking subsidiary and offers full-line securities services to corporations, financial institutions, public sector entities and individuals. Other major subsidiaries include Trust & Custody Services Bank, Ltd. (“TCSB”), Mizuho Capital Co., Ltd., and Mizuho Asset Management Co., Ltd. See Note 31 “Business segment information” for further discussion of the Group’s segment information. The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are stated in Japanese yen, the currency of the country in which MHFG is incorporated and principally operates. The accompanying consolidated financial statements include the accounts of MHFG and its subsidiaries. MHFG’s fiscal year ends on March 31 and fiscal year of certain subsidiaries ends on December 31. The necessary adjustments have been made to the consolidated financial statements if significant transactions took place during the three-month period. When determining whether to consolidate investee entities, the MHFG Group performed a careful analysis of the facts and circumstances of the particular relationships between the MHFG Group and the investee entities as well as the ownership of voting shares. The consolidated financial statements also include the accounts of the VIEs for which MHFG or its subsidiaries have been determined to be the primary beneficiary in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”). All significant intercompany transactions and balances have been eliminated upon consolidation. The MHFG Group accounts for investments in entities over which it has significant influence by using the equity method of accounting. These investments are included in Other investments and the Group’s proportionate share of income or loss is included in Equity in earnings (losses) of equity method investees—net. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and related disclosures. Specific areas, among others, requiring the application of management’s estimates and judgment include assumptions pertaining to the allowance for loan losses, allowance for losses on off-balance-sheet instruments, deferred tax assets, derivative financial instruments, investments and pension and other employee benefits. Actual results could differ from estimates and assumptions made. Definition of cash and due from banks For purposes of the consolidated statements of cash flows, Cash and due from banks includes cash on hand, cash items in the process of collection and noninterest-bearing deposits with banks. Translation of foreign currency financial statements and foreign currency transactions Financial statements of overseas entities are prepared using the functional currency of each entity and translated into Japanese yen for consolidation purposes. Assets and liabilities are translated using the fiscal-year-end exchange rate of each functional currency, and income and expense are translated using the average rate of each functional currency for the period. Foreign currency translation gains and losses related to the financial statements of overseas entities of the MHFG Group, net of related income tax effects, are credited or charged directly to Foreign currency translation adjustments, a component of Accumulated other comprehensive income, net of tax (“AOCI”). The tax effects of gains and losses related to the foreign currency translation of financial statements of overseas entities are not recognized unless it is apparent that the temporary differences will reverse in the foreseeable future. Assets and liabilities denominated in foreign currencies are translated into Japanese yen at the fiscal-year-end foreign exchange rates, and gains and losses resulting from such translation are included in Foreign exchange gains (losses)—net. Foreign currency denominated income and expenses are translated using the average exchange rates for the period. Call loans and call money Call loans and call money represent lending/borrowing, primarily through the Japanese short-term money market, to/from other financial institutions such as banks, insurance companies, and securities brokerage houses. Repurchase and resale agreements, securities lending and borrowing and other secured financing transactions Securities sold under agreements to repurchase (“repurchase agreements”), securities purchased under agreements to resell (“resale agreements”) and securities lending and borrowing transactions are accounted for as secured financing or lending transactions when control over the underlying securities is not deemed to be surrendered by the transferor. Otherwise, they are recorded as sales of securities with related forward repurchase commitments or purchases of securities with related forward resale commitments in accordance with ASC 860, “Transfers and Servicing” (“ASC 860”). Under resale agreements, securities borrowing and certain derivatives transactions, the MHFG Group receives collateral in the form of securities. In many cases, the MHFG Group is permitted to sell or repledge the securities obtained as collateral. Disclosures in respect of such collateral are presented in Note 8 “Pledged assets and collateral”. With respect to repurchase agreements, securities lending, and certain derivative transactions, counterparties may have the right to sell or repledge securities that the MHFG Group has pledged as collateral. The MHFG Group separately discloses these pledged securities in the consolidated balance sheets. The MHFG Group monitors credit exposure arising from resale agreements, repurchase agreements, securities borrowing and securities lending transactions on a daily basis, and additional collateral is obtained from or returned to counterparties, as appropriate. Trading securities and trading securities sold, not yet purchased Trading securities consist of securities and money market instruments that are bought and held principally for the purpose of reselling in the near term with the objective of generating profits on short-term fluctuations in price. Trading securities sold, not yet purchased, are securities and money market instruments sold to third parties that the MHFG Group does not own and is obligated to purchase at a later date to cover the short position. Trading securities and trading securities sold, not yet purchased, are recorded on the trade date. Trading securities and trading securities sold, not yet purchased, are recorded at fair value in the consolidated balance sheets in Trading account assets and Trading account liabilities with realized and unrealized gains and losses recorded on a trade date basis in Trading account gains (losses)—net in the consolidated statements of income. Interest and dividends on trading securities, including securities sold, not yet purchased, are recorded in Interest and dividend income or Interest expense on an accrual basis. Investments Debt securities that the MHFG Group has both the positive intent and ability to hold to maturity are classified as Held-to-maturity securities and carried at amortized cost. Debt securities that the MHFG Group may not hold to maturity and any marketable equity securities, other than those classified as trading securities, are classified as Available-for-sale securities, and are carried at fair value, with unrealized gains and losses reported in AOCI. The credit component of an other-than-temporary impairment of a debt security is reported in Investment gains (losses)—net, and the noncredit component is reported in Other comprehensive income (loss). See Note 3 “Investments” for further discussion of impairment. Interest and dividends, as well as amortization of premiums and accretion of discounts, are reported in Interest and dividend income. Amortization of premiums and accretion of discounts on debt securities are recognized over their remaining maturities under the interest method. Gains and losses on disposition of investments are computed using the first-in first-out method for debt securities and the average method for equity securities, and are recorded on the trade date. Other investments include marketable and non-marketable equity securities accounted for using the equity method, marketable and non-marketable investments held by consolidated investment companies carried at fair value under specialized industry accounting principles for investment companies, and other non-marketable equity securities carried at cost, less other-than-temporary impairment, if any. Derivative financial instruments Derivative financial instruments are bought and held principally for the purpose of market making for customers, proprietary trading in order to generate trading revenues and fee income, and also to manage the MHFG Group’s exposure to interest rate, credit and market risks related to asset and liability management. Such derivative financial instruments include interest rate, foreign currency, equity, commodity and credit default swap agreements, options, caps and floors, and financial futures and forward contracts. Derivatives bought and held for trading purposes are recorded in the consolidated balance sheets at fair value in Trading account assets and Trading account liabilities. The fair values of derivatives in a gain position and a loss position are reported as Trading account assets and Trading account liabilities, respectively. Derivatives used for asset and liability management include contracts that qualify for hedge accounting under ASC 815, “Derivatives and Hedging” (“ASC 815”). To be eligible for hedge accounting, derivative instruments must be highly effective in achieving offsetting changes in fair values or variable cash flows of the hedged items attributable to the particular risk being hedged. All qualifying hedging derivatives are valued at fair value and included in Trading account assets or Trading account liabilities. Derivatives that do not qualify for hedge accounting under ASC 815 are treated as trading positions and are accounted for as such. The fair value amounts recognized for all derivatives are not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under the master netting agreement with the same counterparty. The fair values of derivative financial instruments are determined based on quoted market prices or broker-dealer quotes, if available. If not available, the fair values are estimated using quoted market prices for similar instruments, option or binomial pricing models or a present value cash flow analysis, utilizing current observable market information, where available. In determining the fair values, the Group considers various factors such as exchange or over-the-counter market quotes, time value of money and volatility factors for options and warrants, observed prices for similar or synthetic instruments, and counterparty credit quality including potential exposure. Changes in the fair values of all derivatives are recorded in earnings, except for derivatives qualifying as net investment hedges under ASC 815 which are recorded in AOCI. The changes in the fair values of all derivatives relating to foreign currency exchange rates are included in Foreign exchange gains (losses)—net and Trading account gains (losses)—net. Other elements of the changes in the fair values, including interest rate, equity and credit related components except that of certain credit derivatives hedging the credit risk in the corporate loan portfolio, are recognized in Trading account gains (losses)—net. The net gain (loss) resulting from changes in the fair values of certain credit derivatives where the Group purchases protection to mitigate its credit risk exposure related to its corporate loan portfolio is recorded in Other noninterest income (expenses). Certain financial and hybrid instruments often contain embedded derivative instruments that possess implicit or explicit contract terms similar to those of a derivative instrument. Such derivative instruments are required to be fair-valued separately from the host contracts if they meet the bifurcation criteria of an embedded derivative. Such criteria include that the entire instrument is not marked to market through earnings, the economic characteristics and risks of the embedded contract terms are not clearly and closely related to those of the host contract and the embedded contract terms would meet the definition of a derivative on a stand-alone basis. Loans Loans are generally carried at the principal amount adjusted for unearned income and deferred net nonrefundable loan fees and costs. Loan origination fees, net of certain direct origination costs are deferred and recognized over the contractual life of the loan as an adjustment of yield using a method that approximates the interest method. Interest income on performing loans is accrued and credited to income as it is earned. Unearned income and discounts or premiums on purchased loans are deferred and recognized over the life of the loan using a method that approximates the interest method. Loans are considered impaired when, based on current information and events, it is probable that the MHFG Group will be unable to collect all the scheduled payments of principal and interest when due according to the contractual terms of the loans. Factors considered by management in determining if a loan is impaired include delinquency status and the ability of the debtor to make payment of the principal and interest when due. Impaired loans include loans past due for 90 days or more and restructured loans that meet the definition of a troubled debt restructuring (“TDR”) in accordance with ASC 310, “Receivables” (“ASC 310”). All of the MHFG Group’s impaired loans are designated as nonaccrual loans and thus interest accruals and the amortization of net origination fees are suspended and capitalized interest is written off. Cash received on nonaccrual loans is accounted for as a reduction of the loan principal if the ultimate collectibility of the principal amount is uncertain, otherwise, as interest income. Loans are not restored to accrual status until interest and principal payments are current and future payments are reasonably assured. Impaired loans are restored to non-impaired loans and accrual status, when the MHFG Group determines that the borrower poses no concerns regarding current certainty of debt fulfillment. In general, such determination is made if the borrower qualifies for an obligor rating of E2 or above and is not classified as a special attention obligor. With respect to loans restructured in a TDR, in general, such loans are restored to non-impaired loans, and accrual status, when the borrower qualifies for an obligor rating of D or above. See Note 4 “Loans” for the definitions of obligor ratings. Loans that have been identified for sale are classified as loans held for sale within Other assets and are accounted for at the lower of cost or fair value on an individual loan basis. If management decides to retain certain loans held for sale for the foreseeable future or until maturity or payoff, such items are transferred to Loans at the lower of cost or fair value. Allowance and provision (credit) for loan losses The MHFG Group maintains an appropriate allowance for loan losses to absorb probable losses inherent in the loan portfolio and makes adjustments to such allowance through Provision (credit) for loan losses in the consolidated statements of income. Loan principal that management judges to be uncollectible, based on detailed loan reviews and a credit quality assessment, is charged off against the allowance for loan losses. In general, the MHFG Group charges off loans when the Group determines that the obligor should be classified as substantially bankrupt or bankrupt. See Note 4 “Loans” for the definitions of obligor categories. Obligors in the retail portfolio segment are generally determined to be substantially bankrupt when they are past due for more than six months, and as for other obligors, the Group separately monitors the credit quality of each obligor without using time-based triggers. Subsequent recoveries of previously charged-off loan balances are recorded as an increase to the allowance for loan losses as the recoveries are received. The credit quality review process and the credit rating process serve as the basis for determining the allowance for loan losses. Through such processes loans are categorized into groups to reflect the probability of default, whereby the MHFG Group’s management assesses the ability of borrowers to service their debt, taking into consideration current financial information, ability to generate cash, historical payment experience, analysis of relevant industry segments and current trends. In determining the appropriate level of the allowance, the MHFG Group evaluates the probable loss by category of loan based on its risk type and characteristics. The allowance for loan losses is determined in accordance with ASC 310 and ASC 450, “Contingencies” (“ASC 450”). The MHFG Group measures the impairment of a loan when it is probable that the Group will be unable to collect all amounts due according to the contractual terms of the loan agreement, based on (1) the present value of expected future cash flows, after considering the restructuring effect and subsequent payment default with respect to TDRs, discounted at the loan’s initial effective interest rate, or (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. The collateral that the Group obtains for loans consists primarily of real estate or listed securities. In obtaining the collateral, the Group evaluates the fair value of the collateral and its legal enforceability. The Group also performs subsequent re-evaluations at least once a year. As it pertains to real estate collateral, valuation is generally performed by an appraising subsidiary which is independent from the Group’s loan origination departments by using generally accepted valuation techniques such as (1) the replacement cost approach, or (2) the sales comparison approach or (3) the income approach. In the case of large real estate collateral, the Group generally engages third-party appraisers to perform the valuation. As it pertains to listed securities collateral, observable market prices are used for valuation. The formula allowance is applied to groups of small balance, homogeneous loans that are collectively evaluated for impairment and to non-homogeneous loans that have not been identified as impaired. The evaluation of the inherent loss in respect of these loans involves a high degree of uncertainty, subjectivity and judgment because probable loan losses are not easily identifiable or measurable. In determining the formula allowance, the MHFG Group therefore relies on a statistical analysis that incorporates loss rates based on its own historical loss experience and third-party data such as the number of corporate default cases which is updated once a year. In determining the allowance amount, the Group analyzes (1) the probability of default: (a) by using the most recently available data since April 2008 for the fiscal years ended March 31, 2014, 2015 and 2016 for the corporate portfolio segment, which resulted in using the data for the past six, seven and eight years, respectively, and the most recently available data for the past six years for the retail portfolio segment, respectively, in the case of normal obligors; and (b) by using the most recently available data since April 2002, in the case of watch obligors; and (2) the loss given default by using the most recently available data for the past six years. As it pertains to TDR loans in the retail portfolio segment, which are subject to collective evaluation for impairment, the restructuring itself, as well as subsequent payment defaults, if any, are considered in determining obligor ratings. The historical loss rate is adjusted, where appropriate, to reflect current factors, such as general economic and business conditions affecting the key lending areas of the MHFG Group, credit quality trends, specific industry conditions within portfolio segments, and recent loss experience in particular segments of the portfolio. When determining the length of the period to calculate the probability of default, the Group considers the uncertainty in the economic and business conditions. The estimation of the formula allowance is back-tested on a periodic basis by comparing the allowance with the actual results subsequent to the balance sheet date. Allowance and provision (credit) for losses on off-balance-sheet instruments The MHFG Group maintains an allowance for losses on off-balance-sheet credit instruments, such as guarantees, standby letters of credit, commitments to invest in securities and commitments to extend credit, in the same manner as the allowance for loan losses. The allowance is recorded in Other liabilities. Net changes in the allowance for losses on off-balance-sheet instruments are accounted for in Provision (credit) for losses on off-balance-sheet instruments in the consolidated statements of income. Premises and equipment Premises and equipment are stated at historical cost, and depreciation and amortization are recorded over the estimated useful lives of the assets, except for leasehold improvements, which are amortized over the shorter of the estimated useful lives of the assets or the lease term. Depreciation and amortization are principally computed in accordance with the straight-line method with respect to buildings and leasehold improvements and in accordance with the declining-balance method with respect to other premises and equipment. The useful lives of premises and equipment are as follows: Years Buildings 3 to 50 Equipment and furniture 2 to 20 Leasehold improvements 3 to 50 Regular repairs and maintenance costs that do not extend the estimated useful life of an asset are charged to expense as incurred. Upon sale or disposition of premises and equipment, the cost and related accumulated depreciation or amortization are removed from the accounts, and any gains or losses on disposal are included in Gains on disposal of premises and equipment or Occupancy expenses. Impairment of long-lived assets The MHFG Group’s long-lived assets that are held for use are reviewed periodically for events or changes in circumstances that indicate possible impairment. The Group’s impairment review is based on an undiscounted cash flow analysis of a group of assets, combined with associated liabilities, at the lowest level for which identifiable cash flows exist. Impairment occurs when the carrying value of the asset group exceeds the future undiscounted cash flows that the asset group is expected to generate. When impairment is identified, the future cash flows are then discounted to determine the estimated fair value of the asset group and an impairment charge is recorded for the difference between the carrying value and the estimated fair value of the asset group. The long-lived assets to be disposed of by sale are carried at the lower of the carrying amount or fair value, less estimated cost to sell. Software Internal and external costs incurred in connection with developing and obtaining software for internal use during the application development stage are capitalized. Such costs include salaries and benefits for employees directly involved with and who devote time to the project, to the extent such time is incurred directly on the internal use software project. The capitalization of software ceases when the software project has been substantially completed. The capitalized software is amortized on a straight-line basis over the estimated useful life, generally 5 to 10 years. Internal use software is reviewed for impairment when triggering events occur. Goodwill Goodwill represents the excess of the total fair value of the acquired company, which consists of the consideration transferred, the fair value of any interest in the acquiree already held by the acquirer and the fair value of any noncontrolling interest in the acquiree over the fair value of net identifiable assets acquired at the date of acquisition in a business combination. The MHFG Group accounts for goodwill in accordance with ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”). Goodwill is recorded at a designated reporting unit level for the purpose of assessing impairment. An impairment loss is recorded to the extent the carrying amount of goodwill exceeds its estimated fair value. Intangible assets Intangible assets having definite useful lives are amortized over their estimated useful lives on either a straight-line basis or the method that reflects the pattern in which the economic benefits of the intangible assets are consumed. Intangible assets acquired in connection with the merger of MHSC and Shinko Securities Co., Ltd. (“Shinko”) consist primarily of customer relationship intangibles, and are amortized over a weighted-average amortization period of 16 years. Intangible assets having indefinite useful lives are not amortized and are subject to impairment tests. An impairment loss is recorded to the extent that the carrying amount of the indefinite-lived intangible asset exceeds its estimated fair value. For intangible assets subject to amortization, an impairment loss is recorded if the carrying amount is not recoverable and exceeds its estimated fair value. Pension and other employee benefits MHFG and certain subsidiaries sponsor severance indemnities and pension plans, which provide defined benefits to retired employees. Periodic expense and accrued liabilities are computed based on the actuarial present value of benefits, net of investment returns expected from plan assets and their fair values at the balance sheet date. Net periodic expense is charged to Salaries and employee benefits. Net actuarial gains and losses that arise from differences between actual experience and assumptions are generally amortized over the average remaining service period of participating employees if it exceeds the corridor, which is defined as the greater of 10% of plan assets or the projected benefit obligation. Stock-based compensation The compensation cost associated with stock options is measured at fair value using the Black-Scholes option pricing model. In May, 2015, MHFG announced the discontinuance of the current stock option program along with the introduction of performance payments and performance-based stock compensation, see Note 21 “Stock-based compensation” for further details of the performance-based stock compensation. Long-term debt Premiums, discounts and issuance costs of long-term debt are amortized based on a method that approximates the interest method over the respective terms of the long-term debt. Obligations under guarantees The MHFG Group provides customers with a variety of guarantees and similar arrangements, including standby letters of credit, financial and performance guarantees, credit protection, and liquidity facilities. The MHFG Group recognizes guarantee fee income over the guarantee period. The MHFG Group receives such a guarantee fee at the inception of the guarantee or in installments and, in either case, the present value of the total fees approximates the fair value of the guarantee. Fair Value Measurements The MHFG Group carries certain of its financial assets and liabilities at fair value on a recurring basis. These financial assets and liabilities are primarily composed of trading account assets, trading account liabilities and available-for-sale securities. In addition, the Group measures certain financial assets and liabilities, at fair value on a non-recurring basis. Those assets and liabilities primarily include items that are measured at the lower of cost or fair value such as loans held for sale, and items that were initially measured at cost and have been written down to fair value due to impairments, such as loans and other investments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820, “Fair Value Measurement” (“ASC 820”), the Group classifies its financial assets and liabilities into the fair value hierarchy (Level 1, 2, and 3). See Note 27 “Fair value” for the detailed definition of each level. When determining fair value, the MHFG Group considers the principal or most advantageous market in which the Group would transact and considers assumptions that market participants would use when pricing the asset or liability. The Group maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. See Note 27 “Fair value” for descriptions of valuation methodologies used for its assets and liabilities by product. Fee and commission income Fee revenue is recognized when all of the following criteria have been met: persuasive evidence of an agreement exists, services have been rendered, the price is fixed or determinable, and collectibility is reasonably assured. Fees in respect of securities-related business and fees on funds transfer and collection services are generally recognized as revenue when the related services are performed. Fees on credit-related business, excluding loan origination fees which are deferred and recognized over the loan period as a yield adjustment, are generally recognized either at one time when the service is rendered or over the related transaction period. Fee and commission income is presented on a gross basis and exclusive of consumption taxes. Income taxes Income taxes are accounted for in accordance with ASC 740, “Income Taxes” (“ASC 740”). Deferred income taxes reflect the net tax effects of (1) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax purposes, and (2) operating loss and tax credit carryforwards. A valuation allowance is recorded for any portion of the deferred tax assets unless it is more likely than not that the deferred tax assets will be realized. Deferred income tax benefit or expense is recognized for the changes in the net deferred tax asset or liability between periods. Earnings per common share Basic earnings per common share are computed by dividing net income attributable to MHFG common shareholders by the weighted average number of common shares outstanding during the fiscal year. Diluted earnings per common share reflect the possible exercise of all convertible securities, such as convertible preferred stock to the extent they are not anti-dilutive. See Note 18 “Earnings per common share” for the computation of basic and diluted earnings per common share. |
Recently issued accounting pron
Recently issued accounting pronouncements | 12 Months Ended |
Mar. 31, 2016 | |
Recently issued accounting pronouncements | 2. Recently issued accounting pronouncements Recently adopted accounting pronouncements In December 2011, the FASB issued Accounting Standards Update (“ASU”) No.2011-10, “Property, Plant, and Equipment (Topic 360)—Derecognition of in Substance Real Estate—a Scope Clarification” (“ASU No.2011-10”). In July 2012, the FASB issued ASU No.2012-02, “Intangibles—Goodwill and Other (Topic 350)—Testing Indefinite-Lived Intangible Assets for Impairment” (“ASU No.2012-02”). The ASU permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. Under this ASU, an entity has an option not to calculate annually the fair value of an indefinite-lived intangible asset if the entity determines that it is not more likely than not that its fair value is less than its carrying amount. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of ASU No.2012-02 did not have a material impact on the MHFG Group’s consolidated results of operations or financial condition. In February 2013, the FASB issued ASU No.2013-02, “Comprehensive Income (Topic 220)—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU No.2013-02”). The ASU requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The ASU also requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. The ASU is effective for reporting periods beginning after December 15, 2012. ASU No.2013-02 is an accounting principle which expands disclosure requirements, and had no impact on the MHFG Group’s consolidated results of operations or financial condition. In June 2013, the FASB issued ASU No.2013-08, “Financial Services—Investment Companies (Topic 946)—Amendments to the Scope, Measurement, and Disclosure Requirements” (“ASU No.2013-08”). The ASU changes the approach to the investment company assessment and requires an investment company to measure noncontrolling ownership interests in other investment companies at fair value. The ASU also requires additional disclosures of (a) the fact that the entity is an investment company and is applying the guidance in ASC 946, “Financial Services—Investment Companies” (“ASC 946”), (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. The ASU is effective for an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. The adoption of ASU No.2013-08 did not have a material impact on the MHFG Group’s consolidated results of operations or financial condition. In June 2014, the FASB issued ASU No.2014-11, “Transfers and Servicing (Topic 860)—Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures” (“ASU No.2014-11”). The ASU changes the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the ASU requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The ASU requires disclosures for certain transactions comprising (1) a transfer of a financial asset accounted for as a sale and (2) an agreement with the same transferee entered into in contemplation of the initial transfer that results in the transferor retaining substantially all of the exposure to the economic return on the transferred financial asset throughout the term of the transaction. The ASU also requires an entity to disclose certain information, including risks related to collateral pledged, for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The ASU is effective for the first interim or annual period beginning after December 15, 2014, except for interim disclosure requirements related to secured borrowings, which are effective for interim periods beginning after March 15, 2015. The adoption of ASU No.2014-11 did not have a material impact on the MHFG Group’s consolidated results of operations or financial condition. Accounting pronouncements issued but not yet effective In May 2014, the FASB issued ASU No.2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU No.2014-09”). The ASU provides a comprehensive guidance of revenue recognition, in convergence with International Financial Reporting Standards (“IFRS”), to improve financial reporting in U.S. GAAP by replacing the current complex guidance for recognizing revenue. The core principle of this ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU was effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2016. In August 2015, the FASB issued ASU No.2015-14, “Revenue from Contracts with Customers (Topic 606)—Deferral of the Effective Date” (“ASU No.2015-14”) to defer the effective date of ASU No.2014-09 by one year. Therefore, ASU No.2014-09 is effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2017. Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The MHFG Group is currently evaluating the potential impact that the adoption of ASU No.2014-09 and ASU No.2015-14 will have on its consolidated results of operations and financial condition. In November 2014, the FASB issued ASU No.2014-16, “Derivatives and Hedging (Topic 815)—Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity” (“ASU No.2014-16”). The ASU clarifies that an entity that issues or invests in a hybrid financial instrument should determine the nature of the host contract by considering the economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for bifurcation. The ASU also clarifies that an entity should assess the substance of the relevant terms and features in evaluating the nature of a host contract when considering how to weight those terms and features. Specifically, the assessment of the substance of the relevant terms and features should incorporate a consideration of (1) the characteristics of the terms and features themselves, (2) the circumstances under which the hybrid financial instrument was issued or acquired, and (3) the potential outcomes of the hybrid financial instrument, as well as the likelihood of those potential outcomes. The ASU is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The MHFG Group does not expect that the adoption of ASU No.2014-16 will have a material impact on its consolidated results of operations and financial condition. In February 2015, the FASB issued ASU No.2015-02, “Consolidation (Topic 810)—Amendments to the Consolidation Analysis” (“ASU No.2015-02”). The ASU amends following provisions about the current accounting for consolidation of certain legal entities: (1) modify the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships, and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The ASU is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015, and may be applied retrospectively or applied using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. Early adoption is permitted including adoption in an interim period. The MHFG Group does not expect that the adoption of ASU No.2015-02 will have a material impact on its consolidated results of operations and financial condition. In April 2015, the FASB issued ASU No.2015-03, “Interest—Imputation of Interest (Subtopic 835-30)—Simplifying the Presentation of Debt Issuance Costs” (“ASU No.2015-03”). The ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years, and should be applied retrospectively. Early adoption is permitted for financial statements that have not been previously issued. The MHFG Group does not expect that the adoption of ASU No.2015-03 will have a material impact on its consolidated results of operations or financial condition. In May 2015, the FASB issued ASU No.2015-07, “Fair Value Measurement (Topic 820)—Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)” (“ASU No.2015-07”). The ASU removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, and should be applied retrospectively to all periods presented. Earlier application is permitted. The MHFG Group does not expect that the adoption of ASU No.2015-07 will have a material impact on its consolidated results of operations or financial condition. In January 2016, the FASB issued ASU No.2016-01, “Financial Instruments—Overall (Subtopic 825-10)—Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU No.2016-01”). The ASU requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The ASU also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, and should be applied using a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. Early application by public business entities is permitted for financial statements of fiscal years or interim periods that have not yet been issued. The MHFG Group is currently evaluating the potential impact that the adoption of ASU No.2016-01 will have on its consolidated results of operations and financial condition. In February 2016, the FASB issued ASU No.2016-02, “Leases (Topic 842)” (“ASU No.2016-02”). The ASU requires lessees to recognize the assets and liabilities arising from leases on the balance sheet. Lessees should recognize liabilities to make lease payments and right-of-use assets representing its right to use the underlying assets for the lease term. This recognition applies to leases classified as operating leases and finance leases, and the update retains a distinction between finance leases and operating leases. However, the ASU has not changed the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee significantly. The ASU also requires qualitative disclosures along with specific quantitative disclosures including the amount, timing, and uncertainty of cash flows arising from leases. In transition, an entity is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The MHFG Group is currently evaluating the potential impact that the adoption of ASU No.2016-02 will have on its consolidated results of operations and financial condition. In June 2016, the FASB issued ASU No.2016-13, “Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments” (“ASU No.2016-13”). The ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of information such as relevant information about past events including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount, for the purpose of informing credit loss estimates. The ASU requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The income statement reflects the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The ASU also requires that credit losses on available-for-sale debt securities be presented as an allowance for credit losses rather than as a write-down, and limits the amount of the allowance for credit losses on available-for-sale to the amount by which fair value is below amortized cost. The ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, and will be applied using a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. Early application is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The MHFG Group is currently evaluating the potential impact that the adoption of ASU No.2016-13 will have on its consolidated results of operations and financial condition. |
Investments
Investments | 12 Months Ended |
Mar. 31, 2016 | |
Investments | 3. Investments Available-for-sale and held-to-maturity securities The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale and held-to-maturity securities at March 31, 2015 and 2016 are as follows: Amortized cost Gross unrealized Gross unrealized Fair value (in millions of yen) 2015 Available-for-sale securities: Debt securities: Japanese government bonds 17,391,144 25,110 2,587 17,413,667 Japanese local government bonds 234,421 4,183 16 238,588 U.S. Treasury bonds and federal agency securities 116,408 1,259 454 117,213 Other foreign government bonds 961,684 4,437 237 965,884 Agency mortgage-backed securities (1) 806,877 17,280 2,427 821,730 Residential mortgage-backed securities 260,456 4,426 1,408 263,474 Commercial mortgage-backed securities 169,342 889 961 169,270 Japanese corporate bonds and other debt securities (2) 1,930,054 13,366 1,496 1,941,924 Foreign corporate bonds and other debt securities (3) 730,910 12,026 1,133 741,803 Equity securities (marketable) 1,697,628 2,700,714 1,185 4,397,157 Total 24,298,924 2,783,690 11,904 27,070,710 Held-to-maturity securities: Debt securities: Japanese government bonds 4,360,126 29,001 173 4,388,954 Agency mortgage-backed securities (4) 1,287,215 2,259 621 1,288,853 Total 5,647,341 31,260 794 5,677,807 Amortized cost Gross unrealized Gross unrealized Fair value (in millions of yen) 2016 Available-for-sale securities: Debt securities: Japanese government bonds 15,672,171 91,420 1,015 15,762,576 Japanese local government bonds 234,587 6,097 3 240,681 U.S. Treasury bonds and federal agency securities 436,792 1,720 32 438,480 Other foreign government bonds 939,808 2,740 153 942,395 Agency mortgage-backed securities (1) 920,375 29,804 1,293 948,886 Residential mortgage-backed securities 206,882 4,254 878 210,258 Commercial mortgage-backed securities 186,525 788 523 186,790 Japanese corporate bonds and other debt securities (2) 2,079,599 15,688 420 2,094,867 Foreign corporate bonds and other debt securities (3) 839,981 8,744 1,421 847,304 Equity securities (marketable) 1,663,486 2,121,379 4,577 3,780,288 Total 23,180,206 2,282,634 10,315 25,452,525 Held-to-maturity securities: Debt securities: Japanese government bonds 3,760,032 56,620 — 3,816,652 Agency mortgage-backed securities (4) 1,058,929 3,894 6,266 1,056,557 Total 4,818,961 60,514 6,266 4,873,209 Notes: (1) Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥87,327 million and ¥734,403 million, respectively, at March 31, 2015, and ¥168,604 million and ¥780,282 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) Other debt securities presented in the above table primarily consist of certificates of deposit (“CDs”) and asset-backed securities (“ABS”), of which the total fair values were ¥165,602 million at March 31, 2015, and ¥158,446 million at March 31, 2016. (3) Other debt securities presented in the above table primarily consist of CDs, ABS, and collateralized loan obligations (“CLO”), of which the total fair values were ¥142,543 million at March 31, 2015, and ¥201,952 million at March 31, 2016. (4) All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. Contractual maturities The amortized cost and fair value of available-for-sale and held-to-maturity debt securities at March 31, 2016 by contractual maturity are shown in the table below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Securities not due at a single maturity date and securities embedded with call or prepayment options, such as mortgage-backed securities, are included in the table below based on their contractual maturities. Amortized cost Due in one Due after one Due after five Due after Total (in millions of yen) Available-for-sale securities: Debt securities: Japanese government bonds 2,431,841 11,699,544 1,540,786 — 15,672,171 Japanese local government bonds 20,033 95,266 118,603 685 234,587 U.S. Treasury bonds and federal agency securities 327,513 — 109,279 — 436,792 Other foreign government bonds 776,593 155,782 7,433 — 939,808 Agency mortgage-backed securities — — — 920,375 920,375 Residential mortgage-backed securities — — — 206,882 206,882 Commercial mortgage-backed securities 4,585 126,340 55,600 — 186,525 Japanese corporate bonds and other debt securities 378,794 1,213,539 344,576 142,690 2,079,599 Foreign corporate bonds and other debt securities 194,987 507,194 57,786 80,014 839,981 Total 4,134,346 13,797,665 2,234,063 1,350,646 21,516,720 Held-to-maturity securities: Debt securities: Japanese government bonds 700,001 2,580,182 479,849 — 3,760,032 Agency mortgage-backed securities — — — 1,058,929 1,058,929 Total 700,001 2,580,182 479,849 1,058,929 4,818,961 Fair value Due in Due after one Due after five Due after Total (in millions of yen) Available-for-sale securities: Debt securities: Japanese government bonds 2,433,342 11,757,721 1,571,513 — 15,762,576 Japanese local government bonds 20,051 96,515 123,289 826 240,681 U.S. Treasury bonds and federal agency securities 327,482 — 110,998 — 438,480 Other foreign government bonds 777,144 157,516 7,735 — 942,395 Agency mortgage-backed securities — — — 948,886 948,886 Residential mortgage-backed securities — — — 210,258 210,258 Commercial mortgage-backed securities 4,591 126,265 55,934 — 186,790 Japanese corporate bonds and other debt securities 379,118 1,220,385 348,967 146,397 2,094,867 Foreign corporate bonds and other debt securities 195,753 513,856 57,798 79,897 847,304 Total 4,137,481 13,872,258 2,276,234 1,386,264 21,672,237 Held-to-maturity securities: Debt securities: Japanese government bonds 701,875 2,604,949 509,828 — 3,816,652 Agency mortgage-backed securities — — — 1,056,557 1,056,557 Total 701,875 2,604,949 509,828 1,056,557 4,873,209 Other-than-temporary impairment The MHFG Group performs periodic reviews to identify impaired securities in accordance with ASC 320, “Investments—Debt and Equity Securities” (“ASC 320”). For debt securities, in the cases where the MHFG Group has the intent to sell a debt security or more likely than not will be required to sell a debt security before the recovery of its amortized cost basis, the full amount of an other-than-temporary impairment loss is recognized immediately through earnings. In other cases, the MHFG Group evaluates expected cash flows to be received and determines if a credit loss exists, and if so, the amount of an other-than-temporary impairment related to the credit loss is recognized in earnings, while the remaining decline in fair value is recognized in other comprehensive income, net of applicable taxes. For equity securities, impairment is evaluated considering the length of time and extent to which the fair value has been below cost, the financial condition and near-term prospects of the issuers, as well as the MHFG Group’s ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value. If an equity security is deemed other-than-temporarily impaired, it shall be written down to fair value, with the full decline recognized in earnings. The following table shows the other-than-temporary impairment on available-for-sale securities for the fiscal years ended March 31, 2014, 2015 and 2016. No impairment losses were recognized on held-to-maturity securities for the periods. 2014 2015 2016 (in millions of yen) Available-for-sale securities: Debt securities 1,151 450 4,020 Equity securities 4,193 618 34,041 Total 5,344 1,068 38,061 For the fiscal year ended March 31, 2016, the other-than-temporary impairment losses for debt securities were attributable to the decline in the fair value of certain Japanese corporate bonds that the MHFG Group determined that credit losses existed. In accordance with ASC 320-10-35-33A and ASC 320-10-35-34B, the other-than-temporary impairment of these securities was recognized in earnings. There has never been any instance related to credit losses recognized in earnings on debt securities where a portion of an other-than-temporary impairment was recognized in other comprehensive income. The other-than-temporary impairment losses for equity securities were mainly attributable to the decline in the fair value of certain Japanese equity securities. Continuous unrealized loss position The following table shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity securities, aggregated by the length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015 and 2016: Less than 12 months 12 months or more Total Fair Gross Fair Gross Fair Gross (in millions of yen) 2015 Available-for-sale securities: Debt securities: Japanese government bonds 5,646,840 1,739 211,512 848 5,858,352 2,587 Japanese local government bonds 3,579 8 11,944 8 15,523 16 U.S. Treasury bonds and federal agency securities 45,858 454 — — 45,858 454 Other foreign government bonds 127,535 204 10,421 33 137,956 237 Agency mortgage-backed securities (1) 7,968 47 86,973 2,380 94,941 2,427 Residential mortgage-backed securities — — 51,897 1,408 51,897 1,408 Commercial mortgage-backed securities 23,468 394 19,238 567 42,706 961 Japanese corporate bonds and other debt securities 270,877 478 54,615 1,018 325,492 1,496 Foreign corporate bonds and other debt securities 11,496 29 60,491 1,104 71,987 1,133 Equity securities (marketable) 11,325 1,156 150 29 11,475 1,185 Total 6,148,946 4,509 507,241 7,395 6,656,187 11,904 Held-to-maturity securities: Debt securities: Japanese government bonds 99,738 173 — — 99,738 173 Agency mortgage-backed securities (2) 355,560 621 — — 355,560 621 Total 455,298 794 — — 455,298 794 2016 Available-for-sale securities: Debt securities: Japanese government bonds 1,531,400 692 74,427 323 1,605,827 1,015 Japanese local government bonds 3,434 3 — — 3,434 3 U.S. Treasury bonds and federal agency securities 315,425 32 — — 315,425 32 Other foreign government bonds 225,493 139 225 14 225,718 153 Agency mortgage-backed securities (1) 15,965 86 58,147 1,207 74,112 1,293 Residential mortgage-backed securities 2,417 3 39,984 875 42,401 878 Commercial mortgage-backed securities 40,471 300 22,465 223 62,936 523 Japanese corporate bonds and other debt securities 360,782 348 20,109 72 380,891 420 Foreign corporate bonds and other debt securities 186,478 972 22,090 449 208,568 1,421 Equity securities (marketable) 71,262 4,515 180 62 71,442 4,577 Total 2,753,127 7,090 237,627 3,225 2,990,754 10,315 Held-to-maturity securities: Debt securities: Agency mortgage-backed securities (2) 394,673 5,384 101,892 882 496,565 6,266 Total 394,673 5,384 101,892 882 496,565 6,266 Notes : (1) Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥86,973 million and ¥7,968 million, respectively, at March 31, 2015, and ¥69,805 million and ¥4,307 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. At March 31, 2016, the MHFG Group did not intend to sell the debt securities in an unrealized loss position and it was not more likely than not that the MHFG Group would be required to sell them before the recovery of their amortized cost bases. For Japanese government bonds, U.S. Treasury bonds and federal agency securities and Agency mortgage-backed securities, their entire amortized cost bases were expected to be recovered since the unrealized losses had not resulted from credit deterioration, but primarily from changes in interest rates. For the debt securities other than those described above, including Japanese corporate bonds with similar credit risks as the other-than-temporarily impaired securities, the MHFG Group determined that their entire amortized cost bases were expected to be recovered, after considering various factors such as the extent to which their fair values were below their amortized cost bases, the external and/or internal ratings and the present values of cash flows expected to be collected. Based on the evaluation above, the MHFG Group determined that the debt securities in an unrealized loss position were not considered other-than-temporarily impaired. The equity securities in an unrealized loss position were determined not to be other-than-temporarily impaired based on the evaluation of the following factors: (1) the severity and duration of the impairments, (2) the financial condition and near-term prospects of the issuers, and (3) the MHFG Group’s ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value. Realized gains and losses The following table shows the realized gains and losses on sales of available-for-sale securities for the fiscal years ended March 31, 2014, 2015 and 2016. See “Consolidated Statements of Cash Flows for the fiscal years ended March 31, 2014, 2015 and 2016” for the proceeds from sales of investments, the vast majority of which consists of the proceeds from sales of available-for-sale securities. 2014 2015 2016 (in millions of yen) Gross realized gains 231,955 220,250 297,344 Gross realized losses (29,387 ) (14,670 ) (45,376 ) Net realized gains (losses) on sales of available-for-sale securities 202,568 205,580 251,968 Other investments The following table summarizes the composition of Other investments at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Equity method investments 194,188 258,180 Investments held by consolidated investment companies 53,061 42,045 Other equity interests 450,438 313,221 Total 697,687 613,446 Equity method investments Investments in investees over which the MHFG Group has the ability to exert significant influence are accounted for using the equity method of accounting. Such investments included marketable equity securities with carrying values of ¥84,183 million and ¥124,830 million, at March 31, 2015 and 2016, respectively. The aggregate market values of these marketable equity securities were ¥121,198 million and ¥277,508 million, respectively. The MHFG Group’s proportionate share of the total outstanding common shares in Orient Corporation as of March 31, 2016 was 49.0%. Investments held by consolidated investment companies The MHFG Group consolidates certain investment companies over which it has control through either ownership or other means. Investment companies are subject to specialized industry accounting which requires investments to be carried at fair value, with changes in fair value recorded in earnings. The MHFG Group maintains this specialized industry accounting for investments held by consolidated investment companies, which consist of marketable and non-marketable investments. Other equity interests Other equity interests primarily consist of non-marketable equity securities outside the scope of ASC 320, of which the fair values are not readily determinable, nor practicable to estimate. The MHFG Group has neither significant influence nor control over the investees. Each of these securities is stated at acquisition cost, with an other-than-temporary impairment, if any, included in earnings. The MHFG Group monitors the status of each investee, including its credit rating, to determine whether impairment losses should be recognized. |
Loans
Loans | 12 Months Ended |
Mar. 31, 2016 | |
Loans | 4. Loans The table below presents loans outstanding by domicile and industry of borrower at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Domestic: Manufacturing 8,224,361 8,344,808 Construction and real estate 7,353,826 7,733,513 Services 4,272,968 4,655,704 Wholesale and retail 5,586,533 5,408,850 Transportation and communications 3,156,855 3,267,902 Banks and other financial institutions 3,852,820 3,632,481 Government and public institutions 4,611,900 3,395,784 Other industries (Note) 5,079,922 4,619,336 Individuals: Mortgage loans 11,021,956 10,589,646 Other 848,750 924,408 Total domestic 54,009,891 52,572,432 Foreign: Commercial and industrial 16,688,090 17,319,284 Banks and other financial institutions 6,077,144 6,382,449 Government and public institutions 1,010,704 1,174,665 Other (Note) 425,862 273,695 Total foreign 24,201,800 25,150,093 Total 78,211,691 77,722,525 Less: Unearned income and deferred loan fees—net 163,415 167,156 Total loans before allowance for loan losses 78,048,276 77,555,369 Note: Other industries of Domestic and Other of Foreign include trade receivables and lease receivables of consolidated VIEs. Net losses on sales of loans were ¥2,041 million, ¥33,291 million and ¥1,752 million, including unrealized losses related to recording loans held for sale at the lower of cost or fair value of ¥1,510 million, ¥34,262 million, and ¥810 million for the fiscal years ended March 31, 2014, 2015 and 2016, respectively. Credit quality information In accordance with the MHFG Group’s credit risk management policies, the Group uses an internal rating system that consists of credit ratings and pool allocations as the basis of its risk management infrastructure. Credit ratings consist of obligor ratings which represent the level of credit risk of the obligor, and transaction ratings which represent the ultimate possibility of incurring losses on individual loans by taking into consideration various factors such as collateral or guarantees involved. In principle, obligor ratings are applied to all obligors except those to which pool allocations are applied, and are subject to regular review at least once a year as well as special review which is required whenever the obligor’s credit standing changes. Pool allocations are applied to groups of small balance, homogeneous loans. The Group pools loans with similar risk characteristics, and the risk is assessed and managed according to such pools. The Group generally reviews the appropriateness and effectiveness of the approach to obligor ratings and pool allocations once a year in accordance with predetermined policies and procedures. The table below presents the MHFG Group’s definition of obligor ratings used by MHBK and MHTB: Obligor category Obligor rating Definition Normal A Obligors whose certainty of debt fulfillment is very high, hence their level of credit risk is very low. B Obligors whose certainty of debt fulfillment poses no problems for the foreseeable future, and their level of credit risk is low. C Obligors whose certainty of debt fulfillment and their level of credit risk pose no problems for the foreseeable future. D Obligors whose current certainty of debt fulfillment poses no problems, however, their resistance to future economic environmental changes is low. Watch E1 Obligors that require observation going forward because of either minor concerns regarding their financial position, or their somewhat weak or unstable business conditions. E2 Obligors that require special observation going forward because of problems with their borrowings such as reduced or suspended interest payments, problems with debt fulfillment such as failure to make principal or interest payments, or problems with their financial position as a result of their weak or unstable business condition. Intensive control F Obligors that are not yet bankrupt but are in financial difficulties and are deemed likely to become bankrupt in the future because of insufficient progress in implementing their management improvement plans or other measures (including obligors that are receiving ongoing support from financial institutions). Substantially bankrupt G Obligors that have not yet become legally or formally bankrupt but are substantially insolvent because they are in serious financial difficulties and are deemed to be incapable of being restructured. Bankrupt H Obligors that have become legally or formally bankrupt. The table below presents credit quality information of loans based on the MHFG Group’s internal rating system at March 31, 2015 and 2016: Normal obligors Watch obligors excluding (1) Impaired Total A-B C-D Retail (2) Other (3) E1-E2 Retail (2) Other (3) (in millions of yen) 2015 Domestic: Manufacturing 4,663,535 2,607,651 109,615 198,621 147,978 16,424 1,019 479,518 8,224,361 Construction and real estate 3,331,659 2,943,178 600,856 165,660 192,124 18,478 562 101,309 7,353,826 Services 2,298,532 1,566,359 201,354 4,150 109,677 22,273 — 70,623 4,272,968 Wholesale and retail 2,261,669 2,695,642 237,050 53,691 148,722 39,189 65 150,505 5,586,533 Transportation and communications 2,310,918 674,273 89,258 422 36,383 10,029 — 35,572 3,156,855 Banks and other financial institutions 2,986,436 830,410 2,360 4,169 23,881 129 — 5,435 3,852,820 Government and public institutions 4,505,893 6,007 — 100,000 — — — — 4,611,900 Other industries 2,018,620 706,882 3,326 2,290,419 10,476 406 49,213 580 5,079,922 Individuals — 243,904 11,212,723 133,530 32,512 102,149 2,484 143,404 11,870,706 Total domestic 24,377,262 12,274,306 12,456,542 2,950,662 701,753 209,077 53,343 986,946 54,009,891 Foreign: Total foreign 15,153,557 5,246,343 8,428 3,160,768 344,533 22 100,018 188,131 24,201,800 Total 39,530,819 17,520,649 12,464,970 6,111,430 1,046,286 209,099 153,361 1,175,077 78,211,691 2016 Domestic: Manufacturing 4,859,256 2,681,958 103,343 148,102 163,213 12,473 2,958 373,505 8,344,808 Construction and real estate 3,956,798 2,709,617 601,251 157,057 215,244 16,408 255 76,883 7,733,513 Services 2,611,296 1,674,328 195,140 2,380 81,704 24,846 — 66,010 4,655,704 Wholesale and retail 2,240,228 2,552,552 223,677 57,865 147,404 39,486 546 147,092 5,408,850 Transportation and communications 2,410,967 695,697 86,094 380 35,090 10,518 — 29,156 3,267,902 Banks and other financial institutions 2,719,047 881,405 2,234 3,788 22,303 264 — 3,440 3,632,481 Government and public institutions 3,181,241 4,047 — 210,496 — — — — 3,395,784 Other industries 1,954,222 685,258 3,501 1,929,712 7,053 329 35,315 3,946 4,619,336 Individuals — 259,646 10,891,538 107,131 34,744 96,729 1,659 122,607 11,514,054 Total domestic 23,933,055 12,144,508 12,106,778 2,616,911 706,755 201,053 40,733 822,639 52,572,432 Foreign: Total foreign 15,540,347 5,748,131 8,382 3,132,856 472,696 10 80,607 167,064 25,150,093 Total 39,473,402 17,892,639 12,115,160 5,749,767 1,179,451 201,063 121,340 989,703 77,722,525 Notes: (1) Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered impaired. (2) Amounts represent small balance, homogeneous loans which are subject to pool allocations. (3) Non-impaired loans held by subsidiaries other than MHBK and MHTB constitute Other, since their portfolio segments are not identical to those of MHBK and MHTB. Impaired loans The MHFG Group considers loans to be impaired when it is probable that the Group will be unable to collect all the scheduled payments of principal and interest when due according to the contractual terms of the loans. The Group classifies loans to special attention, intensive control, substantially bankrupt and bankrupt obligors as impaired loans, and all of the Group’s impaired loans are designated as nonaccrual loans. The Group does not have any loans to borrowers that cause management to have serious doubts as to the ability of such borrowers to comply with the present loan repayment terms for the periods presented other than those already designated as impaired loans. The table below presents impaired loans information at March 31, 2015 and 2016: Recorded investment (1) Unpaid Related (3) Average Interest (4) Requiring an Not (2) Total (in millions of yen) 2015 Domestic: Manufacturing 469,856 9,662 479,518 487,833 170,864 289,807 9,376 Construction and real estate 77,863 23,446 101,309 119,800 17,479 119,325 1,570 Services 60,606 10,017 70,623 78,470 18,771 77,028 1,449 Wholesale and retail 138,981 11,524 150,505 161,843 54,481 150,525 2,529 Transportation and communications 31,568 4,004 35,572 36,858 10,173 47,224 729 Banks and other financial institutions 5,373 62 5,435 5,448 2,263 7,487 98 Other industries 478 102 580 766 55 682 11 Individuals 68,337 75,067 143,404 158,344 6,202 173,726 2,553 Total domestic 853,062 133,884 986,946 1,049,362 280,288 865,804 18,315 Foreign: Total foreign 171,852 16,279 188,131 204,575 71,943 233,123 3,197 Total 1,024,914 150,163 1,175,077 1,253,937 352,231 1,098,927 21,512 2016 Domestic: Manufacturing 365,361 8,144 373,505 379,642 138,676 410,491 7,930 Construction and real estate 59,883 17,000 76,883 87,516 10,130 89,075 1,246 Services 56,695 9,315 66,010 72,603 19,095 69,525 1,292 Wholesale and retail 134,425 12,667 147,092 157,215 46,304 149,324 2,376 Transportation and communications 25,665 3,491 29,156 30,497 5,694 33,119 630 Banks and other financial institutions 3,390 50 3,440 3,440 1,095 5,188 42 Other industries 3,591 355 3,946 4,132 799 2,665 64 Individuals 63,367 59,240 122,607 135,325 6,085 133,015 2,058 Total domestic 712,377 110,262 822,639 870,370 227,878 892,402 15,638 Foreign: Total foreign 148,471 18,593 167,064 180,870 61,308 186,440 2,629 Total 860,848 128,855 989,703 1,051,240 289,186 1,078,842 18,267 Notes: (1) Amounts represent the outstanding balances of nonaccrual loans. The MHFG Group’s policy for placing loans in nonaccrual status corresponds to the Group’s definition of impaired loans. (2) These impaired loans do not require an allowance for loan losses because the MHFG Group has sufficient collateral to cover probable loan losses. (3) The allowance for loan losses on impaired loans includes the allowance for groups of small balance, homogeneous loans totaling ¥387,879 million and ¥347,839 million as of March 31, 2015 and 2016 which were collectively evaluated for impairment, in addition to the allowance for those loans that were individually evaluated for impairment. (4) Amounts represent gross interest income on impaired loans which were included in Interest income on loans in the consolidated statements of income. The remaining balance of impaired loans which had been partially charged off was ¥25,980 million and ¥31,933 million as of March 31, 2015 and 2016, respectively. Troubled debt restructurings The MHFG Group considers a TDR to be a restructuring in which it, for economic or legal reasons related to the obligor’s financial difficulties, grants a concession to the obligor that it would not otherwise consider. The Group considers the relevant obligor to be in financial difficulty when its obligor rating is E2 or below. The following table presents TDRs that were entered into during the fiscal years ended March 31, 2015 and 2016: Loan forgiveness or debt to Interest rate Recorded (Note ) Charge-offs (in millions of yen) 2015 Domestic: Manufacturing — 1,236 380,149 Construction and real estate — — 31,554 Services — — 55,592 Wholesale and retail — — 153,577 Transportation and communications — — 25,452 Banks and other financial institutions — — 13,482 Other industries — — 2,607 Individuals — — 35,271 Total domestic — 1,236 697,684 Foreign: Total foreign — 503 50,730 Total — 1,739 748,414 2016 Domestic: Manufacturing 67,058 34,081 108,395 Construction and real estate — — 27,078 Services — — 43,919 Wholesale and retail — — 157,651 Transportation and communications 49 279 28,244 Banks and other financial institutions — — 6,342 Other industries — — 7,120 Individuals — — 28,163 Total domestic 67,107 34,360 406,912 Foreign: Total foreign — — 44,748 Total 67,107 34,360 451,660 Note: Amounts represent the book values of loans immediately after the restructurings. Payment default is deemed to occur when the loan becomes three months past due or the obligor is downgraded to the category of substantially bankrupt or bankrupt. The following table presents payment defaults which occurred during the fiscal years ended March 31, 2015 and 2016 with respect to the loans modified as TDRs within the previous twelve months: Recorded investment 2015 2016 (in millions of yen) Domestic: Manufacturing 9,719 10,669 Construction and real estate 1,673 2,195 Services 2,479 4,824 Wholesale and retail 23,979 20,522 Transportation and communications 1,151 2,361 Individuals 4,359 3,864 Total domestic 43,360 44,435 Foreign: Total foreign 8,187 10,846 Total 51,547 55,281 Age analysis of past due loans The table below presents an analysis of the age of the recorded investment in loans that are past due at March 31, 2015 and 2016: 30-59 days 60-89 days 90 days or Total past Current Total (in millions of yen) 2015 Domestic: Manufacturing 1,407 179 10,451 12,037 8,212,324 8,224,361 Construction and real estate 2,386 2,360 46,142 50,888 7,302,938 7,353,826 Services 1,628 650 7,626 9,904 4,263,064 4,272,968 Wholesale and retail 3,000 2,250 11,196 16,446 5,570,087 5,586,533 Transportation and communications 169 3,122 2,866 6,157 3,150,698 3,156,855 Banks and other financial institutions 333 — 12 345 3,852,475 3,852,820 Government and public institutions — — — — 4,611,900 4,611,900 Other industries — 7 979 986 5,078,936 5,079,922 Individuals 32,060 15,596 46,310 93,966 11,776,740 11,870,706 Total domestic 40,983 24,164 125,582 190,729 53,819,162 54,009,891 Foreign: Total foreign 98 47 14,826 14,971 24,186,829 24,201,800 Total 41,081 24,211 140,408 205,700 78,005,991 78,211,691 2016 Domestic: Manufacturing 1,555 163 9,454 11,172 8,333,636 8,344,808 Construction and real estate 2,713 1,024 35,691 39,428 7,694,085 7,733,513 Services 2,479 223 7,016 9,718 4,645,986 4,655,704 Wholesale and retail 3,193 886 8,861 12,940 5,395,910 5,408,850 Transportation and communications 594 81 2,033 2,708 3,265,194 3,267,902 Banks and other financial institutions — — — — 3,632,481 3,632,481 Government and public institutions — — — — 3,395,784 3,395,784 Other industries — — 29 29 4,619,307 4,619,336 Individuals 38,682 13,570 38,413 90,665 11,423,389 11,514,054 Total domestic 49,216 15,947 101,497 166,660 52,405,772 52,572,432 Foreign: Total foreign 859 2,598 30,000 33,457 25,116,636 25,150,093 Total 50,075 18,545 131,497 200,117 77,522,408 77,722,525 |
Allowance for loan losses
Allowance for loan losses | 12 Months Ended |
Mar. 31, 2016 | |
Allowance for loan losses | 5. Allowance for loan losses In accordance with ASC 450, a formula-based allowance utilizing historical loss factors, after adjusting for existing economic conditions where appropriate, is applied to groups of non-homogeneous loans and small balance, homogeneous loans which have not been identified as impaired. At MHBK and MHTB, when management estimates probable credit losses to determine the allowance for loan losses, small balance, homogeneous loans are classified in the retail portfolio segment to which pool allocations apply, and loans other than these classified in the retail portfolio segment are classified in the corporate portfolio segment. The corporate portfolio segment consists of loans originated by MHBK and MHTB, and includes mainly business loans such as those used for working capital and capital expenditure, as well as loans for which the primary source of repayment of the obligation is income generated by the relevant assets such as project finance, asset finance and real estate finance. The retail portfolio segment consists mainly of residential mortgage loans, originated by MHBK. The other portfolio segment consists of loans of subsidiaries other than MHBK and MHTB, such as consolidated VIEs and overseas subsidiaries. See Note 1 “Basis of presentation and summary of significant accounting policies” for further details of the methodology used to determine the allowance for loan losses and Note 4 “Loans” for further details of obligor ratings and pool allocations. Changes in Allowance for loan losses by portfolio segment for the fiscal years ended March 31, 2014, 2015 and 2016 are shown below: Corporate Retail Other Total (in millions of yen) 2014 Balance at beginning of fiscal year 641,895 109,189 21,873 772,957 Provision (credit) for loan losses (128,368 ) (12,712 ) 14,850 (126,230 ) Charge-offs (47,927 ) (3,935 ) (13,286 ) (65,148 ) Recoveries 21,423 3,000 2,112 26,535 Net charge-offs (26,504 ) (935 ) (11,174 ) (38,613 ) Others (Note) 14,326 — 3,737 18,063 Balance at end of fiscal year 501,349 95,542 29,286 626,177 2015 Balance at beginning of fiscal year 501,349 95,542 29,286 626,177 Provision (credit) for loan losses (40,167 ) (33,261 ) 13,205 (60,223 ) Charge-offs (64,634 ) (3,266 ) (11,322 ) (79,222 ) Recoveries 19,086 1,454 2,743 23,283 Net charge-offs (45,548 ) (1,812 ) (8,579 ) (55,939 ) Others (Note) 7,543 — 2,701 10,244 Balance at end of fiscal year 423,177 60,469 36,613 520,259 2016 Balance at beginning of fiscal year 423,177 60,469 36,613 520,259 Provision (credit) for loan losses 33,532 (15,474 ) 16,502 34,560 Charge-offs (97,536 ) (2,173 ) (12,610 ) (112,319 ) Recoveries 17,232 1,399 2,034 20,665 Net charge-offs (80,304 ) (774 ) (10,576 ) (91,654 ) Others (Note) (8,666 ) — (3,252 ) (11,918 ) Balance at end of fiscal year 367,739 44,221 39,287 451,247 Note: Others includes primarily foreign exchange translation. The table below presents Allowance for loan losses and loans outstanding by portfolio segment disaggregated on the basis of impairment method at March 31, 2015 and 2016: Corporate Retail Other Total (in millions of yen) 2015 Allowance for loan losses 423,177 60,469 36,613 520,259 of which individually evaluated for impairment 284,247 8,092 15,234 307,573 of which collectively evaluated for impairment 138,930 52,377 21,379 212,686 Loans (Note) 59,108,129 12,791,303 6,312,259 78,211,691 of which individually evaluated for impairment 788,343 31,580 49,222 869,145 of which collectively evaluated for impairment 58,319,786 12,759,723 6,263,037 77,342,546 2016 Allowance for loan losses 367,739 44,221 39,287 451,247 of which individually evaluated for impairment 222,591 3,829 12,521 238,941 of which collectively evaluated for impairment 145,148 40,392 26,766 212,306 Loans (Note) 59,385,962 12,414,453 5,922,110 77,722,525 of which individually evaluated for impairment 634,049 24,768 63,280 722,097 of which collectively evaluated for impairment 58,751,913 12,389,685 5,858,830 77,000,428 Note: Amounts represent loan balances before deducting unearned income and deferred loan fees. In the fiscal year ended March 31, 2014, Provision for loan losses decreased by ¥266,177 million from the previous fiscal year. The decrease was due primarily to a decrease in allowance for loan losses on domestic impaired loans as a result of upgrades and collections related to some borrowers and non-impaired loans reflecting upgrades in the obligor categories of a broad range of borrowers mainly through credit management activities, including business revitalization support for borrowers, reflecting the continuing gradual recovery of the Japanese economy. In the fiscal year ended March 31, 2015, Credit for loan losses decreased by ¥66,007 million from the previous fiscal year. The decrease was due primarily to an increase in allowance for loan losses on impaired loans related to certain domestic borrowers, although the MHFG Group continued to record a credit for loan losses and recorded a decrease in allowance for loan losses on non-impaired loans as a result of upgrades in the obligor categories of a broad range of borrowers, reflecting the continuing gradual recovery of the Japanese economy. In the fiscal year ended March 31, 2016, Provision for loan losses increased by ¥94,783 million from the previous fiscal year. The MHFG Group recorded a modest level of Provision for loan losses, reflecting how the Japanese economy was in a “leveling off” phase. |
Premises and equipment
Premises and equipment | 12 Months Ended |
Mar. 31, 2016 | |
Premises and equipment | 6. Premises and equipment Premises and equipment at March 31, 2015 and 2016 consist of the following: 2015 2016 (in millions of yen) Land 563,295 552,205 Buildings 822,229 827,458 Equipment and furniture 450,656 463,205 Leasehold improvements 82,610 88,195 Construction in progress 14,745 20,656 Software 862,353 1,086,124 Total 2,795,888 3,037,843 Less: Accumulated depreciation and amortization 1,163,403 1,199,853 Premises and equipment—net 1,632,485 1,837,990 Depreciation and amortization expense for premises and equipment for the fiscal years ended March 31, 2014, 2015 and 2016 was ¥155,549 million, ¥161,152 million and ¥162,676 million, respectively. Premises and equipment under capital leases, which is primarily comprised of data processing equipment, amounted to ¥58,783 million and ¥69,077 million at March 31, 2015 and 2016, respectively. Accumulated depreciation and amortization on such premises and equipment at March 31, 2015 and 2016 amounted to ¥33,249 million and ¥34,733 million, respectively. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Mar. 31, 2016 | |
Goodwill and intangible assets | 7. Goodwill and intangible assets Goodwill The changes in Goodwill during the fiscal years ended March 31, 2014, 2015 and 2016 were as follows: MHBK MHTB Total (in millions of yen) 2014 Balance at beginning of fiscal year 6,147 — 6,147 Goodwill acquired (1) 7,719 — 7,719 Impairment losses recognized 3,792 — 3,792 Foreign exchange translation 1,475 — 1,475 Balance at end of fiscal year 11,549 — 11,549 Gross amount of goodwill 80,615 — 80,615 Accumulated impairment losses 69,066 — 69,066 2015 Balance at beginning of fiscal year 11,549 — 11,549 Goodwill acquired — — — Impairment losses recognized — — — Foreign exchange translation 154 — 154 Balance at end of fiscal year 11,703 — 11,703 Gross amount of goodwill 81,254 — 81,254 Accumulated impairment losses 69,551 — 69,551 2016 Balance at beginning of fiscal year 11,703 — 11,703 Goodwill acquired (2) — 16,470 16,470 Impairment losses recognized 6,222 — 6,222 Foreign exchange translation (2,854 ) — (2,854 ) Balance at end of fiscal year 2,627 16,470 19,097 Gross amount of goodwill 78,003 16,470 94,473 Accumulated impairment losses 75,376 — 75,376 Notes: (1) Goodwill acquired is entirely related to the acquisition of Banco Mizuho do Brasil S.A. (2) Goodwill acquired is entirely related to the acquisition of Simplex Real Estate Management Inc. and Simplex REIT Partners Inc. Due to the prolonged severe business environment for PT. Mizuho Balimor Finance and Banco Mizuho do Brasil S.A., it was determined that the carrying amounts of PT. Mizuho Balimor Finance reporting unit and Banco Mizuho do Brasil S.A. reporting unit exceeded their fair values, which are based on the income approach and the market approach, respectively. Therefore, goodwill impairment losses of ¥3,792 million and ¥6,222 million related to PT. Mizuho Balimor Finance and Banco Mizuho do Brasil S.A. were recognized during the fiscal years ended March 31, 2014 and 2016, respectively. Intangible assets The table below presents the gross carrying amount, accumulated amortization and net carrying amount of intangible assets, at March 31, 2015 and 2016: 2015 2016 Gross Accumulated Net Gross Accumulated Net (in millions of yen) Intangible assets subject to amortization: Customer relationships (Note) 73,949 30,164 43,785 73,949 35,178 38,771 Other 2,794 2,188 606 2,864 2,208 656 Total 76,743 32,352 44,391 76,813 37,386 39,427 Intangible assets not subject to amortization: Total 9,189 — 9,189 9,224 — 9,224 Total 85,932 32,352 53,580 86,037 37,386 48,651 Note: Customer relationships were acquired in connection with the merger of MHSC and Shinko on May 7, 2009. See Note 1 “Basis of presentation and summary of significant accounting policies” for further information. For the fiscal years ended March 31, 2014, 2015, and 2016, the MHFG Group recognized ¥5,709 million, ¥5,376 million, and ¥5,254 million, respectively, of amortization expense in respect of intangible assets. The table below presents the estimated aggregate amortization expense in respect of intangible assets for the next five years: (in millions of yen) Fiscal year ending March 31: 2017 4,800 2018 4,522 2019 4,281 2020 4,058 2021 3,469 |
Pledged assets and collateral
Pledged assets and collateral | 12 Months Ended |
Mar. 31, 2016 | |
Pledged assets and collateral | 8. Pledged assets and collateral The following amounts, by balance sheet classification, have been pledged as collateral for borrowings and for other purposes at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Interest-bearing deposits in other banks 35 69 Trading account assets 8,462 7,939 Investments 10,432 10,254 Loans 6,881 5,871 Other assets 945 1,322 Total 26,755 25,455 The associated liabilities collateralized by the above assets at March 31, 2015 and 2016 are summarized below: 2015 2016 (in billions of yen) Deposits 773 813 Call money and funds purchased 1,265 — Payables under repurchase agreements 7,862 6,182 Payables under securities lending transactions 2,339 2,790 Other short-term borrowings 510 657 Long-term debt 5,113 5,545 Total 17,862 15,987 The Bank of Japan (“the BOJ”) requires private depository institutions to maintain a certain amount of funds as reserves in current accounts with the BOJ, based on average deposit balances and certain other factors. There are similar reserve deposit requirements for foreign branches and subsidiaries engaged in banking businesses in foreign countries. At March 31, 2015 and 2016, the deposit amounts maintained with the BOJ and foreign central banks, which were included in Cash and due from banks and Interest-bearing deposits in other banks, were ¥26,824 billion and ¥34,377 billion, respectively. These balances included the reserve funds required to be maintained by the MHFG Group, which amounted to ¥1,313 billion and ¥1,322 billion at March 31, 2015 and 2016, respectively. At March 31, 2015 and 2016, the MHFG Group had received collateral that can be sold or repledged, with a fair value of ¥13,588 billion and ¥12,116 billion, respectively, of which ¥12,657 billion and ¥11,616 billion, respectively, was sold and repledged. Such collateral was primarily obtained in connection with resale or securities borrowing agreements, and was generally used as collateral for repurchase or securities lending agreements, or to cover short sales. |
Deposits
Deposits | 12 Months Ended |
Mar. 31, 2016 | |
Deposits | 9. Deposits The balances of time deposits and certificates of deposit issued by domestic offices in amounts of ¥10 million (approximately US$89 thousand at the Federal Reserve Bank of New York’s noon buying rate on March 31, 2016) or more and the balances of these deposits issued by foreign offices in amounts of US$100,000 or more at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Domestic offices: Time deposits 19,841,134 19,209,570 Certificates of deposit 9,011,589 6,432,810 Total 28,852,723 25,642,380 Foreign offices: Time deposits 11,948,577 12,708,142 Certificates of deposit 6,683,316 5,394,695 Total 18,631,893 18,102,837 The aggregate amount of demand deposits in overdraft status that have been reclassified as loan balances at March 31, 2015 and 2016 was ¥669 billion and ¥890 billion, respectively. The balance and remaining maturities of time deposits and certificates of deposit issued by domestic and foreign offices at March 31, 2016 are shown in the following table: Time Certificates of Total (in millions of yen) Domestic offices: Due in one year or less 24,232,170 6,406,310 30,638,480 Due after one year through two years 1,942,484 26,500 1,968,984 Due after two years through three years 1,445,878 — 1,445,878 Due after three years through four years 378,928 — 378,928 Due after four years through five years 399,454 — 399,454 Due after five years 147,810 — 147,810 Total 28,546,724 6,432,810 34,979,534 Foreign offices: Due in one year or less 12,648,102 5,284,772 17,932,874 Due after one year through two years 60,503 46,766 107,269 Due after two years through three years 6,367 2,817 9,184 Due after three years through four years 46 — 46 Due after four years through five years 13 60,368 60,381 Due after five years 259 — 259 Total 12,715,290 5,394,723 18,110,013 Total 41,262,014 11,827,533 53,089,547 |
Due to trust accounts
Due to trust accounts | 12 Months Ended |
Mar. 31, 2016 | |
Due to trust accounts | 10. Due to trust accounts MHTB and TCSB, which are MHFG’s trust bank subsidiaries, hold assets on behalf of their customers in an agent, fiduciary or trust capacity. Such trust account assets are not the MHFG Group’s proprietary assets and are managed and accounted for separately. However, the cash in individual trust accounts is often placed with MHTB and TCSB for the customers’ short-term investment needs. These amounts which MHTB and TCSB owe to the trust accounts are recorded as Due to trust accounts. The MHFG Group consolidates certain guaranteed principal money trusts. See Note 24 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. |
Short-term borrowings and long-
Short-term borrowings and long-term debt | 12 Months Ended |
Mar. 31, 2016 | |
Short-term borrowings and long-term debt | 11. Short-term borrowings and long-term debt Short-term borrowings Short-term borrowings consist of Due to trust accounts, Call money and funds purchased, Payables under repurchase agreements and securities lending transactions, and Other short-term borrowings. Details of Other short-term borrowings at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Commercial paper and short-term notes issued by consolidated VIEs of asset-backed commercial paper programs (1) (2) 310,042 289,219 Commercial paper and short-term notes issued by MHFG and its subsidiaries (1) (3) 742,500 1,369,302 Borrowings from the Bank of Japan 432,538 324,146 Other 97,517 97,372 Total 1,582,597 2,080,039 Notes: (1) Short-term notes are issued under the laws of Japan in the form of dematerialized commercial paper, whose characteristics are economically the same as commercial paper. (2) Commercial paper and short-term notes issued by consolidated VIEs of asset-backed commercial paper programs in the above table consist of commercial paper and short-term notes, of which the amounts were ¥235,837 million and ¥74,205 million, respectively, at March 31, 2015, and ¥232,538 million and ¥56,681 million, respectively, at March 31, 2016. (3) Commercial paper and short-term notes issued by MHFG and its subsidiaries in the above table consist of commercial paper and short-term notes, of which the amounts were ¥777,602 million and ¥591,700 million, respectively, at March 31, 2016. At March 31, 2015, all the amounts represent the outstanding balances of short-term notes. Long-term debt Long-term debt with original maturities of more than one year at March 31, 2015 and 2016 is comprised of the following: 2015 2016 (in millions of yen) Obligations under capital leases 29,129 37,811 Loan participation borrowings 83,128 64,524 Senior borrowings and bonds 11,080,548 11,581,024 Subordinated borrowings and bonds 3,389,436 3,087,563 Total 14,582,241 14,770,922 The following table presents the interest rates and maturities of senior borrowings and bonds, and subordinated borrowings and bonds: Interest rates (1) Maturities (2) 2015 2016 (%) (in millions of yen) Senior borrowings and bonds: fixed rate denominated in Japanese yen 0.00-8.00 Apr. 2016-Apr. 2046 7,675,926 7,863,984 fixed rate denominated in U.S. dollars 0.00-7.49 Apr. 2016-Sep. 2045 1,579,411 1,783,532 fixed rate denominated in other currencies 0.10-5.00 Apr. 2016-May. 2037 71,802 135,515 floating rate denominated in Japanese yen 0.00-16.00 Apr. 2016-Mar. 2046 925,188 852,425 floating rate denominated in U.S. dollars 0.00-6.70 Apr. 2016-Jul. 2033 777,001 898,840 floating rate denominated in other currencies 0.09-9.40 Jan. 2017-Sep. 2035 51,220 46,728 Total 11,080,548 11,581,024 Subordinated borrowings and bonds: fixed rate denominated in Japanese yen 0.62-4.26 Apr. 2016-Perpetual 2,955,502 2,596,460 fixed rate denominated in U.S. dollars 4.30-6.65 Jun. 2016-Perpetual 433,934 491,103 Total 3,389,436 3,087,563 Total 14,469,984 14,668,587 Notes: (1) The interest rates disclosed reflect the range of contractual rates in effect at March 31, 2016. (2) Maturity information disclosed is the range of maturities at March 31, 2016. (3) None of the long-term debt issuances above are convertible to common stock. (4) Certain debt agreements permit the MHFG Group to redeem the related debt, in whole or in part, prior to maturity at the MHFG Group’s option on terms specified in the respective agreements. The following is a summary of contractual maturities of long-term debt subsequent to March 31, 2016: (in millions of yen) Fiscal year ending March 31: 2017 1,874,328 2018 1,493,654 2019 4,881,901 2020 1,776,560 2021 432,082 2022 and thereafter 4,312,397 Total 14,770,922 |
Other assets and liabilities
Other assets and liabilities | 12 Months Ended |
Mar. 31, 2016 | |
Other assets and liabilities | 12. Other assets and liabilities The following table sets forth the details of other assets and liabilities at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Other assets: Accounts receivable from brokers, dealers and customers for securities transactions 2,490,956 1,718,769 Collateral provided for derivative transactions 673,511 884,651 Prepaid pension cost 712,523 612,102 Miscellaneous receivables 303,844 286,896 Margins provided for futures contracts 207,381 225,240 Security deposits 113,354 113,066 Loans held for sale 4,583 33,133 Other 612,452 828,428 Total 5,118,604 4,702,285 Other liabilities: Accounts payable to brokers, dealers and customers for securities transactions 1,894,023 2,882,824 Collateral accepted for derivative transactions 737,032 715,894 Guaranteed trust principal 561,364 623,904 Miscellaneous payables 925,322 442,352 Margins accepted for futures contracts 386,082 334,925 Factoring amounts owed to customers 290,718 242,392 Unearned income 138,681 144,903 Other 1,001,641 1,089,529 Total 5,934,863 6,476,723 Guaranteed trust principal Guaranteed trust principal is the liability of certain consolidated trust arrangements, in respect of which the MHFG Group provides guarantees for the repayment of principal. See Note 24 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. Unearned income Unearned income is primarily comprised of refundable fees received from consumer loan customers at the time the loan was made, which is being deferred and recognized in earnings as earned. |
Preferred stock
Preferred stock | 12 Months Ended |
Mar. 31, 2016 | |
Preferred stock | 13. Preferred stock The composition of preferred stock at March 31, 2014, 2015 and 2016 is as follows: 2014 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 602,100,700 1,000 Yes Thirteenth series class XIII preferred stock — 36,690,000 — — — — First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,251,442,000 914,752,000 602,100,700 2015 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 701,631,100 1,000 Yes First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,214,752,000 914,752,000 701,631,100 2016 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 815,828,400 1,000 Yes First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,214,752,000 914,752,000 815,828,400 Notes: (1) The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. (2) The total number of authorized shares from first to fourth series class XIV preferred stock shall not exceed 900,000,000. (3) The total number of authorized shares from first to fourth series class XV preferred stock shall not exceed 900,000,000. (4) The total number of authorized shares from first to fourth series class XVI preferred stock shall not exceed 1,500,000,000. Holders or registered pledgees of preferred stock are entitled to receive annual dividends, and distribution of residual assets of MHFG as set out above at the liquidation value per share, prior to holders of common stock but pari passu among themselves. MHFG may pay up to one-half of the annual dividend payable on each class of preferred stock as an interim dividend. Dividends on preferred stock are not cumulative. Holders of preferred stock are not entitled to vote at a general meeting of shareholders except where the articles of incorporation entitle holders of preferred stock to vote. In June 2013, MHFG newly authorized class XIV preferred stock, class XV preferred stock and class XVI preferred stock in relation to meet the requirements of Basel III. Under Basel III, in order for preferred stock issued by a bank holding company to be included as its regulatory capital under the capital adequacy requirements, the terms and conditions of the preferred stock are required to include a provision that in the event the bank holding company is considered to be non-viable, (1) a write-off of the relevant preferred stock or (2) a conversion of the relevant preferred stock into common stock shall be effected (a loss-absorption clause). In respect of class XI preferred stock, and class XIII preferred stock, which were authorized before the implementation of Basel III in the articles of incorporation of MHFG, it is not possible to include the foregoing loss-absorption clause in the terms and conditions of those preferred stock under the current provisions of the articles of incorporation. Therefore, class XIV preferred stock, class XV preferred stock and class XVI preferred stock were newly authorized so that the foregoing loss-absorption clause can be included in the terms and conditions of class XIV preferred stock, class XV preferred stock and class XVI preferred stock by a resolution of the board of directors relating to the issuance of the relevant preferred stock. Besides the foregoing loss-absorption clause, provisions regarding the preferred stock dividends, distribution of residual assets, acquisition clause and rights to request acquisition in respect of class XIV preferred stock, class XV preferred stock and class XVI preferred stock were newly established. In addition, each of class XIV preferred stock, class XV preferred stock and class XVI preferred stock was established in multiple series as a separate class of shares in order to enable MHFG to issue those preferred stock in multiple series. Eleventh series class XI preferred stock is convertible into common stock at the option of the holder. The material terms and conditions of conversion are as follows: Conversion period Conversion ratio (Note) Eleventh series class XI preferred stock July 1, 2008 to June 30, 2016 ¥1,000/(conversion price), where the conversion price after adjustment is ¥282.90 on or after August 30, 2011; to be reset on July 1, 2015 (a “Reset Date”) as ¥1,000/(conversion price), where the conversion price is the lower of (x) the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the Tokyo Stock Exchange (“TSE”) for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to the Reset Date and (y) the conversion price after adjustment effective as of the day before the relevant Reset Date, provided that the conversion price shall not be less than ¥282.90. Note: Subject to adjustment, in the event of issuance or disposal by MHFG of common stock for a price below the “current market price”, a stock split, issuance of securities convertible into common stock at a price below the “current market price” at the time of issuance thereof or determination of the conversion price thereof, merger or amalgamation, or a capital decrease or stock consolidation occurs and in certain other circumstances. All preferred stock shares which have not been converted as described above by the end of the relevant conversion period will be converted into common stock on the day following the end of the conversion period on the following terms: Conversion date Conversion ratio Eleventh series class XI preferred stock July 1, 2016 ¥1,000/(current market price), where the current market price is the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the TSE for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to July 1, 2016, provided that the current market price shall not be less than ¥282.90. The following table shows the changes in the number of shares and the aggregate amount of preferred stock during the fiscal years ended March 31, 2014, 2015 and 2016: Class of stock Issued at Net Issued at Net Issued at Net Issued at (number of shares) Eleventh series class XI preferred stock (1) (2) 914,752,000 — 914,752,000 — 914,752,000 — 914,752,000 Thirteenth series class XIII preferred stock 36,690,000 (36,690,000 ) — — — — — Total 951,442,000 (36,690,000 ) 914,752,000 — 914,752,000 — 914,752,000 Class of stock Aggregate Net Aggregate Net Aggregate Net Aggregate (in millions of yen) Eleventh series class XI preferred stock (1) (2) 914,752 — 914,752 — 914,752 — 914,752 Thirteenth series class XIII preferred stock 36,690 (36,690 ) — — — — — Total 951,442 (36,690 ) 914,752 — 914,752 — 914,752 Notes: (1) The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. (2) All shares of the eleventh series class XI preferred stock were converted into common stock on July 1, 2016 and cancelled on July 13, 2016. |
Common stock
Common stock | 12 Months Ended |
Mar. 31, 2016 | |
Common stock | 14. Common stock The following table shows the changes in the number of issued shares of common stock during the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (shares) Balance at beginning of fiscal year 24,164,864,477 24,263,885,187 24,621,897,967 Issuance of new shares of common stock due to conversion of Eleventh series class XI preferred stock 99,020,710 351,822,780 403,667,690 Issuance of new shares of common stock due to exercise of stock acquisition rights — 6,190,000 4,960,000 Balance at end of fiscal year 24,263,885,187 24,621,897,967 25,030,525,657 |
Dividends
Dividends | 12 Months Ended |
Mar. 31, 2016 | |
Dividends | 15. Dividends The amount available for dividends under the Companies Act is based on the amount recorded in MHFG’s non-consolidated In making a distribution of retained earnings, an entity must set aside in its legal reserve an amount equal to one-tenth In addition to the provision that requires an appropriation for the legal reserve, the Companies Act and the Banking Act impose certain limitations on the amount available for dividends. Under the Companies Act, MHFG’s maximum amount available for dividends, at March 31, 2016, was ¥1,696,034 million, based on the amount recorded in MHFG’s general books of account under Japanese GAAP. Under the Banking Act and related regulations, MHFG has to meet the minimum capital adequacy requirements. Distributions of retained earnings, which are otherwise distributable to shareholders, are restricted in order to maintain the minimum Common Equity Tier 1 capital ratio of 4.5% (phased in at 4.0% in 2014) for capital adequacy purposes under the rules in Basel III. See Note 17 “Regulatory matters” for further discussion of regulatory capital requirements. Payment of dividends on shares of common stock is also subject to the prior payment of dividends on shares of preferred stock. The following table shows dividends on preferred stock and common stock during the fiscal years ended March 31, 2014, 2015 and 2016: 2014 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 6,717 Thirteenth series class XIII preferred stock (Note) 15 550 Common stock 6 144,998 Total 152,265 2015 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 5,906 Common stock 7 170,231 Total 176,137 2016 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 3,572 Common stock 7.75 191,693 Total 195,265 Note: On July 11, 2013, MHFG acquired and cancelled all of the shares of the thirteenth series class XIII preferred stock. Consequently, the amount for the fiscal year does not include interim dividends. |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Mar. 31, 2016 | |
Accumulated other comprehensive income | 16. Accumulated other comprehensive income Changes in each component of AOCI for the fiscal years ended March 31, 2014, 2015 and 2016 are as follows: 2014 2015 2016 (in millions of yen) AOCI, balance at beginning of fiscal year 777,997 1,117,877 2,041,005 Net unrealized gains (losses) on available-for-sale securities: Balance at beginning of fiscal year 995,124 1,123,272 1,747,607 Unrealized holding gains (losses) during year 255,140 763,115 (189,479 ) Less: reclassification adjustments for losses (gains) included in net income (126,992 ) (138,780 ) (148,669 ) Change during year 128,148 624,335 (338,148 ) Balance at end of fiscal year 1,123,272 1,747,607 1,409,459 Foreign currency translation adjustments: Balance at beginning of fiscal year (82,420 ) (6,434 ) 129,179 Foreign currency translation adjustments during year 75,986 134,104 (122,081 ) Less: reclassification adjustments for losses (gains) included in net income — 1,509 (788 ) Change during year 75,986 135,613 (122,869 ) Balance at end of fiscal year (6,434 ) 129,179 6,310 Pension liability adjustments: Balance at beginning of fiscal year (134,707 ) 1,039 164,219 Unrealized gains (losses) during year 131,360 163,191 (107,497 ) Less: reclassification adjustments for losses (gains) included in net income 4,386 (11 ) (3,183 ) Change during year 135,746 163,180 (110,680 ) Balance at end of fiscal year 1,039 164,219 53,539 Total other comprehensive income (loss), net of tax attributable to MHFG shareholders 339,880 923,128 (571,697 ) AOCI, balance at end of fiscal year 1,117,877 2,041,005 1,469,308 The following table shows the amounts reclassified out of AOCI into net income during the fiscal year ended March 31, 2016: Before tax (1) Tax effect (2) Net of tax before Net of tax attributable to (2) Net of tax attributable shareholders (in millions of yen) Amounts reclassified out of AOCI into net income: Affected line items in the consolidated statements of income: Net unrealized gains (losses) on available-for-sale securities 213,907 (65,207 ) 148,700 (31 ) 148,669 Investment gains (losses)—net Foreign currency translation adjustments 788 — 788 — 788 Foreign exchange gains (losses)-net Pension liability adjustments 4,529 (1,317 ) 3,212 (29 ) 3,183 Salaries and employee benefits Total 219,224 (66,524 ) 152,700 (60 ) 152,640 Notes: (1) The amounts in the Before tax column are recorded in each account presented under the heading “Affected line items in the consolidated statements of income”. (2) The amounts in the Tax effect column and Net of tax attributable to noncontrolling interests column are recorded in Income tax expense and Net income attributable to noncontrolling interests in the consolidated statements of income, respectively. |
Regulatory matters
Regulatory matters | 12 Months Ended |
Mar. 31, 2016 | |
Regulatory matters | 17. Regulatory matters Regulatory capital requirements MHFG, MHBK, and MHTB are subject to regulatory capital requirements administered by the Financial Services Agency in accordance with the provisions of the Banking Act and related regulations. Failure to meet minimum capital requirements may initiate certain mandatory actions by regulators that, if undertaken, could have a direct material effect on the MHFG Group’s consolidated financial condition and results of operations. The capital adequacy guidelines applicable to Japanese banks and bank holding companies with international operations supervised by the Financial Services Agency closely follow the risk-adjusted approach proposed by the Bank for International Settlements (“BIS”) and are intended to further strengthen the soundness and stability of Japanese banks. Effective March 31, 2007, guidelines were implemented by the Financial Services Agency to comply with the capital adequacy requirements set by BIS called Basel II. The framework of Basel II is based on the following three pillars: minimum capital requirements; supervisory review; and market discipline. In May 2011, the capital adequacy guidelines were revised by the Financial Services Agency to comply with the package of measures to enhance the Basel II framework approved by the Basel Committee on Banking Supervision in July 2009. The revised guidelines, which became effective in December 2011, include the strengthening of rules governing trading book capital and the strengthening of the treatment of certain securitizations under the first pillar. In December 2010, the Basel Committee on Banking Supervision issued the Basel III rules text (later revised in June 2011, January 2013 and October 2014), which presents the details of global regulatory standards on bank capital adequacy and liquidity agreed by the Governors and Heads of Supervision, which is the oversight body of the Basel Committee on Banking Supervision, and endorsed by the G20 Leaders at the Seoul summit in November 2010. The rules text sets out higher and better-quality capital, better risk coverage, the introduction of a leverage ratio as a backstop to the risk-based requirement, and the introduction of the capital conservation buffer and countercyclical capital buffer as measures to promote the build-up of capital that can be drawn down in periods of stress, and the introduction of two global liquidity standards. The Financial Services Agency’s revisions to its capital adequacy guidelines became effective from March 31, 2013, which generally reflect the rules in the Basel III rules text that have been applied from January 1, 2013. While the three-pillar structure of Basel II has been retained, Basel III includes various changes as described further below. Under the first pillar, the capital ratio is calculated by dividing regulatory capital, or risk-based capital, by risk-weighted assets. With respect to the calculation of risk-weighted assets, the MHFG Group adopts the advanced internal ratings-based approach for credit risk. Under such approach, balance sheet assets and off-balance sheet exposures, calculated under Japanese GAAP, are assessed with respect to risk components such as probability of default and loss given default, which are derived from the Group’s own internal credit experience. In addition to credit risk, banks are required to measure and apply capital charges with respect to their market risks. Market risk is defined as the risk of losses in on- and off-balance sheet positions arising from movements in market prices. Operational risk, which was introduced under Basel II with respect to regulatory capital requirements, is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. The Group adopts the advanced measurement approach for the measurement of operational risk equivalent by taking account of the following four elements: internal loss data; external loss data; scenario analysis; and business environment and internal control factors. Under Basel III, the calculation method of risk-weighted assets was revised, including certain modifications to the treatment of counterparty credit risk, such as a capital charge for credit valuation adjustment risk. With regard to risk-based capital, the guidelines based on Basel III set out higher and better-quality capital standards compared to those under Basel II. The guidelines based on Basel III require a target minimum standard capital adequacy ratio of 8%, Tier 1 capital ratio of 6% and Common Equity Tier 1 capital ratio of 4.5%, on both a consolidated and non-consolidated basis for banks with international operations, such as MHBK and MHTB, or on a consolidated basis for bank holding companies with international operations, such as MHFG. Risk-based capital, calculated from financial statements prepared under Japanese GAAP, is classified into the following two tiers: Tier 1 capital; and Tier 2 capital. Tier 1 capital consists of Common Equity Tier 1 capital and Additional Tier 1 capital. Common Equity Tier 1 capital generally consists of common stock, capital surplus, retained earnings, accumulated other comprehensive income and other disclosed reserves and others less any regulatory adjustments. Additional Tier 1 capital generally consists of instruments issued by a bank or its holding company that meet the criteria for inclusion in Additional Tier 1 capital and others less any regulatory adjustments. Tier 2 capital generally consists of instruments issued by a bank or its holding company such as subordinated debt that meet the criteria for inclusion in Tier 2 capital, general reserve for possible losses on loans (equaling the sum of (i) the excess of the amount of qualified reserves over the amount of expected losses and (ii) the amount of general reserves calculated based on the standardized approach) and others less any regulatory adjustments. Under Basel III, capital instruments that no longer qualify as Additional Tier 1 capital or Tier 2 capital are being phased out beginning March 2013 by increments of 10% until becoming fully effective in March 2022. The MHFG Group’s existing preferred stock, preferred securities (the amounts thereof included within Additional Tier 1 capital as of March 31, 2016 being ¥1,144.0 billion) and existing subordinated debt issued before March 2013 (the amounts thereof included within Tier 2 capital as of March 31, 2016 being ¥962.9 billion) are subject to the phase-out arrangements. In November 2011, the Financial Stability Board published policy measures to address the systemic and moral hazard risks associated with systemically important financial institutions. The policy measures include requirements for global systemically important banks (“G-SIBs”) to have additional loss absorption capacity tailored to the impact of their default, ranging from 1% to 2.5% of risk-weighted assets, to be met with Common Equity Tier 1 capital, which would be in addition to the 7.0% Common Equity Tier 1 capital requirement (including capital conservation buffer). The requirements began phasing in from January 2016 and will be fully implemented by January 2019. The Group was included in the list of G-SIBs updated in November 2015 and was allocated to the category that would require 1.0% of additional loss absorbency. In November 2015, the Financial Service Agency published the revised capital adequacy guidelines to introduce the Basel III rules text regarding the capital conservation buffer, the countercyclical capital buffer and the additional loss absorption capacity requirement for G-SIBs and domestic systemically important banks (“D-SIBs”). In December 2015, the Financial Service Agency published a capital adequacy guideline regarding the designation of G-SIBs and D-SIBs in Japan. The Group was designated as both a G-SIB and D-SIB, and the additional loss absorption capacity requirement applicable to the Group was 1.0% on a fully effective basis. The additional loss absorption capacity requirement was the same as that imposed by the Financial Stability Board, which is being phased in starting in March 2016 at 0.25% until becoming fully effective in March 2019 at 1.0%. As part of its ongoing review of the calculation of risk-weighted assets, in December 2014, the Basel Committee on Banking Supervision published two consultative documents on revisions to the standardized approach for credit risk (later revised in December 2015) and on the design of a capital floor framework based on standardized, non internal modeled approach. The revised proposals are part of a range of policy and supervisory measures that aim to enhance reliability and comparability of risk-weighted capital ratios across banks. The proposal on the revisions to standardized approach includes, among other things, to decrease mechanistic reliance on external credit rating agencies by introducing grade classification and due diligence requirements to the determination of risk weights. The proposal on the capital floor framework seeks to replace the current transitional capital floor based on the Basel I standard with a capital floor based on the revised standardized approach, which is currently under review as described above. Furthermore, in March 2016, the Basel Committee on Banking Supervision published a consultative document on the reduction of variation in credit risk-weighted assets. The document presented proposals which would remove the option to use the internal-ratings based approaches for credit risk for certain exposures, adopt exposure level, model-parameter floors for portfolios where the internal-ratings based approaches remain available, and provide greater specification of parameter estimation practices for portfolios where the internal-ratings based approaches remain available. The various proposals are intended to be complementary to one another, with the goal of reducing excessive variability in risk-weighted assets across banks. The schedule of implementation of the various proposals has not been stated explicitly. Related to regulatory capital requirements, in November 2015, the Financial Stability Board issued the final total loss-absorbing capacity (“TLAC”) standard for G-SIBs. The TLAC standard has been designed so that failing G-SIBs Following the publication of the final TLAC standard for G-SIBs by the Financial Stability Board, in April 2016, the Financial Services Agency published an explanatory paper outlining its approach for the introduction of the TLAC framework in Japan. According to the Financial Services Agency’s approach, which is subject to change based on future international discussions, the preferred resolution strategy for G-SIBs in Japan is Single Point of Entry (“SPE”) resolution, in which resolution powers are applied to the top of a group by a single national resolution authority, although the actual measures to be taken will be determined on a case-by-case basis considering the actual condition of the relevant Japanese G-SIB in crisis. To implement this SPE resolution strategy effectively, the Financial Services Agency plans to require bank holding companies of Japanese G-SIBs, which will be the resolution entities, to (i) meet the minimum external TLAC requirements provided under the Financial Stability Board’s TLAC standard, and (ii) cause their material subsidiaries that are designated as systemically important by the Financial Services Agency, including but not limited to certain material sub-groups as provided in the Financial Stability Board’s TLAC standard, to maintain a certain level of capital and debt recognized by the Financial Services Agency as having loss-absorbing and recapitalization capacity, or Internal TLAC. In addition, under the approach, Japanese G-SIBs would be allowed to count the Japanese Deposit Insurance Fund Reserves in an amount equivalent to 2.5% of their consolidated risk-weighted assets from 2019 and 3.5% of their consolidated risk-weighted assets from 2022 as their external TLAC. Regulatory adjustments are to be applied mainly to the calculation of Common Equity Tier 1 capital in the form of the deductions and prudential filters related to the following: • Goodwill and other intangibles • Deferred tax assets • Deferred gains or losses on derivatives under hedge accounting that relates to the hedging of items that are not fair valued on the balance sheet • Shortfall of the stock of provisions to expected losses under the internal ratings-based approach • Gain on sale related to securitization transactions • Cumulative gains and losses due to changes in own credit risk on fair valued financial liabilities • Defined benefit pension fund assets and liabilities • Treasury stock • Reciprocal cross holdings of capital of banking, financial and insurance entities • Investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation Regulatory adjustments will be fully deducted in the calculation of Common Equity Tier 1 capital by March 2018. The regulatory adjustments began at 20% of the required deductions in the calculation of Common Equity Tier 1 capital in March 2014 and will be increased by 20% increments per year through March 2018 when the regulatory adjustments reach 100%. During this transition period, the remainder not deducted from capital will continue to be subject to existing national treatments. The capital requirements and regulatory adjustments are being phased in over a transitional period as follows (italicized percentages indicate those still in transition periods): March 2013 March 2014 March 2015 March 2016 March 2017 March 2018 March 2019 March 2020 March 2021 March 2022 Minimum Common Equity Tier 1 capital 3.5 % 4.0 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % Minimum Tier 1 capital 4.5 % 5.5 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Minimum total capital 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % Capital conservation buffer 0.0 % 0.0 % 0.0 % 0.625 % 1.25 % 1.875 % 2.5 % 2.5 % 2.5 % 2.5 % Phase out of recognition of capital instruments that no longer qualify as capital 90.0 % 80.0 % 70.0 % 60.0 % 50.0 % 40.0 % 30.0 % 20.0 % 10.0 % 0.0 % Phase-in of deductions from capital 0.0 % 20.0 % 40.0 % 60.0 % 80.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Additional loss absorbency requirements for G-SIBs and D-SIBs (Note) — — — 0.25 % 0.50 % 0.75 % 1.0 % 1.0 % 1.0 % 1.0 % Note: Figures assume that the additional loss absorbency requirements applied to the Group as a G-SIB and D-SIB Japanese banks are also required to comply with the supervisory review process (second pillar) and disclosure requirements for market discipline (third pillar). Under the second pillar, banks are required to maintain adequate capital to support all of the major risks in their business and are encouraged to develop and use better risk management techniques in monitoring and managing such risks. Under the third pillar, banks are required to enhance disclosure, including disclosure of details of the capital adequacy ratio, the amount of each type of risk and the method of calculation used so that the market may make more effective evaluations. Further, the revisions to the Financial Services Agency’s guidelines relating to the third pillar, which reflect the enhanced disclosure requirements under Basel III and became effective on March 31, 2013, require banks to disclose, among other things, the components of their regulatory capital and the main features of their regulatory capital instruments in common templates. If the capital adequacy ratio of a financial institution falls below the required level, the Financial Services Agency may, depending upon the extent of capital deterioration, take certain corrective action, including requiring the financial institution to submit an improvement plan to strengthen its capital base, reduce its total assets, restrict its business operations or other actions that could have a material effect on its financial condition and results of operations. Capital adequacy ratios of MHFG, MHBK, and MHTB as of March 31, 2015 and 2016 calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency are set forth in the following table: 2015 2016 Amount Ratio Amount Ratio (in billions of yen, except percentages) Consolidated: MHFG: Common Equity Tier 1 capital: Required (Note) 2,934 4.50 3,361 5.375 Actual 6,153 9.43 6,566 10.50 Tier 1 capital: Required (Note) 3,912 6.00 4,299 6.875 Actual 7,500 11.50 7,905 12.64 Total risk-based capital: Required (Note) 5,215 8.00 5,550 8.875 Actual 9,508 14.58 9,639 15.41 MHBK: Common Equity Tier 1 capital: Required 2,574 4.50 2,555 4.50 Actual 5,966 10.42 6,142 10.81 Tier 1 capital: Required 3,432 6.00 3,406 6.00 Actual 6,943 12.13 7,244 12.75 Total risk-based capital: Required 4,576 8.00 4,542 8.00 Actual 8,754 15.30 8,780 15.46 MHTB: Common Equity Tier 1 capital: Required 120 4.50 109 4.50 Actual 444 16.67 440 18.21 Tier 1 capital: Required 160 6.00 145 6.00 Actual 444 16.68 440 18.21 Total risk-based capital: Required 213 8.00 193 8.00 Actual 512 19.21 472 19.52 Non-consolidated: MHBK: Common Equity Tier 1 capital: Required 2,519 4.50 2,489 4.50 Actual 5,787 10.33 5,892 10.65 Tier 1 capital: Required 3,359 6.00 3,318 6.00 Actual 6,728 12.01 7,004 12.66 Total risk-based capital: Required 4,479 8.00 4,424 8.00 Actual 8,598 15.35 8,576 15.50 MHTB: Common Equity Tier 1 capital: Required 117 4.50 109 4.50 Actual 437 16.79 448 18.52 Tier 1 capital: Required 156 6.00 145 6.00 Actual 437 16.79 448 18.52 Total risk-based capital: Required 208 8.00 194 8.00 Actual 503 19.33 480 19.80 Note: The required amounts and ratios as of March 31, 2016 include those equivalent to a transition capital conservation buffer of 0.625% and transition additional loss absorbency requirements for a G-SIB and D-SIB MHFG’s securities subsidiaries in Japan are also subject to the capital adequacy requirement under the Financial Instruments and Exchange Act. Under this requirement, securities firms must maintain a minimum capital adequacy ratio of 120% calculated as a percentage of capital accounts less certain assets, as determined in accordance with Japanese GAAP, against amounts equivalent to market, counterparty, and basic risks. Specific guidelines are issued as a ministerial ordinance that details the definition of essential components of the capital ratios, including capital, disallowed assets and risks, and related measures. Failure to maintain a minimum capital ratio will trigger mandatory regulatory actions. A capital ratio of less than 140% will call for regulatory reporting and a capital ratio of less than 100% may lead to a temporary suspension of all or part of the business operations and further, to the cancellation of the license to act as a securities broker and dealer. Management believes, as of March 31, 2016, that MHFG, MHBK, MHTB, and their securities subsidiaries in Japan were in compliance with all capital adequacy requirements to which they were subject. |
Earnings per common share
Earnings per common share | 12 Months Ended |
Mar. 31, 2016 | |
Earnings per common share | 18. Earnings per common share Basic earnings per common share are computed by dividing net income attributable to MHFG common shareholders by the weighted average number of common shares outstanding during the fiscal year. Diluted earnings per common share reflect the assumed conversion to common shares of all convertible securities such as convertible preferred stock. The following table sets forth the computation of basic and diluted earnings per common share for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Net income: Net income attributable to MHFG shareholders 498,484 803,048 850,492 Less: Net income attributable to preferred shareholders 6,745 4,910 2,430 Net income attributable to common shareholders 491,739 798,138 848,062 Effect of dilutive securities: Convertible preferred stock 6,437 4,910 2,430 Net income attributable to common shareholders after assumed conversions 498,176 803,048 850,492 2014 2015 2016 (thousands of shares) Shares: Weighted average common shares outstanding 24,189,670 24,368,116 24,806,161 Effect of dilutive securities: Convertible preferred stock (Note) 1,164,941 994,745 563,044 Stock options 16,641 18,186 17,828 Weighted average common shares after assumed conversions 25,371,252 25,381,047 25,387,033 2014 2015 2016 (in yen) Amounts per common share: Basic net income per common share 20.33 32.75 34.19 Diluted net income per common share 19.64 31.64 33.50 Note: The number of common shares after assumed conversion of the convertible preferred stock is based on the applicable conversion prices. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2016 | |
Income taxes | 19. Income taxes Income tax expense The following table presents the components of Income tax expense for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Current: Domestic 92,814 184,180 162,408 Foreign 42,919 71,250 61,009 Total current tax expense 135,733 255,430 223,417 Deferred: Domestic 94,911 187,134 127,185 Foreign (4,536 ) (5,144 ) (4,060 ) Total deferred tax expense 90,375 181,990 123,125 Total income tax expense 226,108 437,420 346,542 The preceding table does not reflect the tax effects of items recorded directly in Equity for the fiscal years ended March 31, 2014, 2015 and 2016. The detailed amounts recorded directly in Equity are as follows: 2014 2015 2016 (in millions of yen) Net unrealized gains (losses) on available-for-sale securities: Unrealized gains (losses) 161,269 403,690 (97,339 ) Less: reclassification adjustments (70,228 ) (65,699 ) (65,207 ) Total 91,041 337,991 (162,546 ) Foreign currency translation adjustments: Unrealized gains (losses) — — 126 Less: reclassification adjustments — — — Total — — 126 Pension liability adjustments: Unrealized gains (losses) 71,646 87,654 (51,661 ) Less: reclassification adjustments 2,442 (16 ) (1,317 ) Total 74,088 87,638 (52,978 ) Total tax effect before allocation to noncontrolling interests 165,129 425,629 (215,398 ) Reconciliation of Income tax expense The following table shows a reconciliation of Income tax expense at the effective statutory tax rate to the actual income tax expense for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen, except tax rates) Income before income tax expense 726,343 1,267,653 1,196,605 Effective statutory tax rate 38.01 % 35.64 % 33.06 % Income tax calculated at the statutory tax rate 276,083 451,792 395,598 Income not subject to tax (22,354 ) (20,911 ) (12,888 ) Expenses not deductible for tax purposes 1,550 1,532 1,521 Tax rate differentials of subsidiaries (1,611 ) (3,517 ) (2,208 ) Change in valuation allowance (1) (44,620 ) (4,444 ) (1,897 ) Change in undistributed earnings of subsidiaries 932 16,084 (16,112 ) Change in net operating loss carryforwards resulting from intercompany capital transactions 235 (1,290 ) (1,446 ) Effect of enacted change in tax rates 15,786 (2) (21,714 ) (3) (7,976 ) (4) Other 107 19,888 (8,050 ) Income tax expense 226,108 437,420 346,542 Notes: (1) In the fiscal year ended March 31, 2015, the MHFG Group partially changed the basis of presentation in respect of change in valuation allowance to represent the amount of change that directly affected Income tax expense. The current period’s presentation of change in valuation allowance excludes the effect of expiration of net operating loss carryforwards for which a valuation allowance had been fully recorded against the associated deferred tax assets. Refer to the roll-forward table in Note 19 for details of expiration of net operating loss carryforwards which affected the gross valuation allowance but not the total Income tax expense in prior periods. (2) On March 20, 2014, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ended March 31, 2015 was reduced to 35.64% from the previous rate of 38.01%. The decrease in the Group’s balance of net deferred tax assets, reflecting such tax rate reductions, was recognized in Income tax expense in the fiscal year ended March 31, 2014. (3) On March 31, 2015, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ended March 31, 2016 has been reduced to 33.06% from the previous rate of 35.64%. In addition, the tax rate for the fiscal years ending March 31, 2017 and thereafter will be 32.26%. The decrease in the Group’s balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2015. (4) On March 29, 2016, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ending March 31, 2017 and 2018 will be reduced to 30.86% from the previous rate of 32.26%. In addition, the tax rate for the fiscal years ending March 31, 2019 and thereafter will be 30.62%. The decrease in the Group’s balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2016. Deferred tax assets and liabilities The components of net deferred tax assets (liabilities) at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Deferred tax assets: Investments 575,974 522,197 Allowance for loan losses 225,436 178,683 Derivative financial instruments 8,719 — Net operating loss carryforwards (Note) 392,363 341,572 Other 197,335 170,414 1,399,827 1,212,866 Valuation allowance (388,551 ) (339,922 ) Deferred tax assets, net of valuation allowance 1,011,276 872,944 Deferred tax liabilities: Available-for-sale securities 909,744 710,497 Prepaid pension cost and accrued pension liabilities 218,124 174,959 Derivative financial instruments — 56,877 Trading securities 39,056 23,154 Undistributed earnings of subsidiaries 28,056 11,944 Premises and equipment 2,614 1,033 Other 49,717 38,990 Deferred tax liabilities 1,247,311 1,017,454 Net deferred tax assets (liabilities) (236,035 ) (144,510 ) Note: The amount includes ¥281,403 million and ¥268,544 million related to MHFG’s net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. Deferred tax assets and deferred tax liabilities within the same tax jurisdiction have been netted for presentation purposes in the consolidated balance sheets. The following table and accompanying footnotes provide a breakdown of deferred tax assets and the valuation allowance recognized in respect of net operating loss carryforwards by tax jurisdiction and by year of expiration as of March 31, 2015 and 2016: Deferred tax assets Valuation allowance Deferred tax assets, net of valuation allowance (in billions of yen) 2015 Japan (1) 286 (283 ) 3 The United States 17 (11 ) 6 The United Kingdom (2) 86 (86 ) — Others 3 (3 ) — Total 392 (383 ) 9 2016 Japan (3) 270 (270 ) — The United States 16 (8 ) 8 The United Kingdom (4) 53 (53 ) — Others 3 (3 ) — Total 342 (334 ) 8 Notes: (1) ¥279 billion of the Japan net operating losses of ¥286 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. (2) The United Kingdom net operating losses of ¥86 billion may be carried forward indefinitely. (3) ¥265 billion of the Japan net operating losses of ¥270 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. (4) The United Kingdom net operating losses of ¥53 billion may be carried forward indefinitely. Determination of valuation allowance In accordance with ASC 740, when the MHFG Group determines whether and to what extent a valuation allowance is needed, the Group considers all available evidence, both positive and negative, to estimate future taxable income. In this regard, the Group considers reversals of existing taxable temporary differences, projected future taxable income (exclusive of reversals of existing temporary differences) and qualifying tax-planning strategies to be possible sources of future taxable income. The Group considers the specific pattern and timing of future reversals of existing taxable and deductible temporary differences on available-for-sale securities to constitute a prudent and feasible tax-planning strategy and strong positive evidence. The Group has the ability to control when its available-for-sale securities with unrealized gains and losses are sold in order to accelerate or decelerate taxable or deductible amounts. The Group also has a long history of effecting such sales as necessary in order to utilize net operating loss carryforwards or otherwise realize deferred tax assets. Positive evidence includes the Group’s results of operations for the current and preceding years on an overall consolidated basis and for most of the principal subsidiaries. In particular, the strong results of operations in recent years of MHFG’s principal banking subsidiaries in Japan represent positive evidence that can be objectively verified. Negative evidence includes the existence of significant amounts of net operating loss carryforwards or cumulative losses recorded at certain entities, and the expiration of unused net operating loss carryforwards in recent years. A valuation allowance is recorded against deferred tax assets as of the balance sheet date to the extent the Group estimates it is more likely than not that sufficient future taxable income is not available to realize such deferred tax assets. As the Group does not apply a consolidated taxation system with a few exceptions of non-principal subsidiaries outside Japan, deferred tax assets and liabilities are calculated separately for each legal entity. Therefore, changes in the valuation allowance are primarily due to changes in deductible temporary differences, net operating loss carryforwards and estimated availability of future taxable income sources of each entity. In general, a valuation allowance is recognized against deferred tax assets related to entities that have accumulated significant net operating loss carryforwards. As of March 31, 2016, the Group’s valuation allowance was primarily related to entities in Japan, the United States and the United Kingdom. The valuation allowance was partially recognized in Japan and in the United States, while the valuation allowance was fully recognized in the United Kingdom. The Group determined whether cumulative losses were recognized by aggregating pretax results for the recent three years as part of the analysis of potential indicators of negative evidence. In each tax jurisdiction, certain entities recognized a cumulative loss on the basis of the recent three years’ pretax results as of March 31, 2016. As it pertains to each entity with a cumulative loss, a valuation allowance was fully recognized against the deferred tax assets if the Group determined there was no positive evidence that overcame the negative evidence. As of March 31, 2016, MHFG’s securities subsidiary in the United Kingdom recorded cumulative losses on the basis of the recent three years’ pretax results and recognized a full valuation allowance, as there was no positive evidence to overcome the negative evidence. MHFG and its principal banking subsidiaries in Japan did not record cumulative losses in the periods presented. Change in valuation allowance The following table presents a roll-forward of the valuation allowance for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Balance at beginning of fiscal year 584,665 443,847 388,551 Changes that directly affected Income tax expense (44,620 ) (4,444 ) (1,897 ) Changes that did not affect Income tax expense: Expiration of net operating loss carryforwards (6,313 ) — — Others (89,885 ) (50,852 ) (46,732 ) Total (96,198 ) (50,852 ) (46,732 ) Balance at end of fiscal year 443,847 388,551 339,922 The decrease in the fiscal year ended March 31, 2014 of ¥44,620 million in the valuation allowance that directly affected Income tax expense was a result of an assessment of the realizability of deferred tax assets that mainly reflected decreases in deductible temporary differences and increases in future taxable income, which led to the full de-recognition of valuation allowance in one of MHFG’s principal banking subsidiaries in Japan. The decreases in deductible temporary differences were primarily related to investments, while the increases in future taxable income were due to increases in net unrealized gains on available-for-sale securities. The decrease in others was primarily related to the portion of valuation allowance that the MHFG Group judged to be offset by gross deferred tax assets that related to certain investments. The primary portion of the decrease in others was related to the deferred tax assets against which a full valuation allowance had been recorded, and therefore there was no impact on the deferred tax expense although the valuation allowance decreased due to this offsetting. The decrease in the fiscal year ended March 31, 2015 of ¥4,444 million in the valuation allowance that directly affected Income tax expense was a result of an assessment of the realizability of deferred tax assets that mainly reflected decreases in deductible temporary differences. The decrease in the fiscal year ended March 31, 2015 of ¥50,852 million in others was primarily related to a decrease in the valuation allowance that is fully recognized against MHFG’s net operating loss carryforwards due to tax rate reductions. The decrease in the fiscal year ended March 31, 2016 of ¥1,897 million in the valuation allowance that directly affected Income tax expense was primarily related to an increase of the realizability of deferred tax assets of MHFG’s subsidiaries. The decrease in the fiscal year ended March 31, 2016 of ¥46,732 million in others was primarily related to a decrease in the valuation allowance that is fully recognized against the MHFG Group’s net operating loss carryforwards due to tax rate reductions and the anticipated liquidation of one of MHFG’s subsidiaries. Net operating loss carryforwards At March 31, 2016, the MHFG Group had net operating loss carryforwards totaling ¥1,233 billion. These carryforwards are scheduled to expire as follows: Net operating loss (in billions of yen) Fiscal year ending March 31: 2017 — 2018 865 2019 4 2020 — 2021 — 2022 and thereafter 364 Total 1,233 Included in net operating loss carryforwards in the above table are MHFG’s net operating loss carryforwards of ¥877 billion resulting mainly from intercompany capital transactions, ¥865 billion of which are net operating loss carryforwards generated in relation to a previous intragroup reorganization. The tax loss was recorded at MHFG in accordance with Japanese tax law. The net operating loss carryforwards due to this transaction are to expire in March 2018. Uncertainty in income tax The following table is a roll-forward of unrecognized tax benefits for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Total unrecognized tax benefits at beginning of fiscal year 1,454 1,691 1,632 Gross amount of increases (decreases) related to positions taken during prior years (6 ) (37 ) (415 ) Gross amount of increases related to positions taken during the current year 100 346 181 Amount of decreases related to settlements — (652 ) — Foreign exchange translation 143 284 (98 ) Total unrecognized tax benefits at end of fiscal year 1,691 1,632 1,300 The total amount of unrecognized tax benefits including ¥699 million, ¥517 million and ¥506 million of interest and penalties was ¥1,691 million, ¥1,632 million and ¥1,300 million at March 31, 2014, 2015 and 2016, respectively, which would, if recognized, affect the Group’s effective tax rate. The Group classifies interest and penalties accrued relating to unrecognized tax benefits as Income tax expense. The MHFG Group is currently subject to ongoing tax audits in some jurisdictions. The oldest years open to tax audits in Japan, the United States and the United Kingdom are 2008, 2002 and 2002, respectively. The Group does not anticipate that increases or decreases of unrecognized tax benefits within the next twelve months would have a material effect on its consolidated results of operations or financial condition. |
Pension and other employee bene
Pension and other employee benefit plans | 12 Months Ended |
Mar. 31, 2016 | |
Pension and other employee benefit plans | 20. Pension and other employee benefit plans Severance indemnities and pension plans MHFG and certain subsidiaries sponsor and offer their employees other than directors and corporate auditors, contributory and non-contributory defined benefit plans. Under these plans, employees are provided with lump-sum cash payments upon leaving the company. The amount of benefits under each plan is principally determined based on the position, the length of service and the reason for retirement. When employees meet certain conditions including the length of service, they may opt to receive annuity payments instead of lump-sum payments at retirement. MHFG and certain subsidiaries also offer special termination benefits to former employees whose contributions during their careers were deemed meritorious and to those with particular circumstances. Certain foreign offices and subsidiaries have defined contribution plans and/or defined benefit plans, of which disclosures are combined with those for domestic benefit plans, as they are not significant. MHFG and certain subsidiaries have several defined contribution plans. The costs recognized in respect of contributions to the plans for the fiscal years ended March 31, 2014, 2015 and 2016 were ¥2,487 million, ¥2,444 million and ¥2,820 million, respectively. Pension plans are not fully integrated among subsidiaries of MHFG and plan assets are managed separately by each plan. Net periodic benefit cost and funded status The following table presents the components of net periodic cost of the severance indemnities and pension plans for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Service cost-benefits earned during the fiscal year 33,429 33,578 38,032 Interest costs on projected benefit obligations 20,341 13,060 10,479 Expected return on plan assets (37,047 ) (38,087 ) (40,603 ) Amortization of prior service benefits (195 ) (195 ) (195 ) Amortization of net actuarial loss (gain) 7,039 150 (4,108 ) Special termination benefits 5,429 5,504 4,456 Net periodic benefit cost 28,996 14,010 8,061 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) before-tax for the fiscal years ended March 31, 2015 and 2016 are summarized as follows: 2015 2016 (in millions of yen) Net actuarial gain (loss) 246,523 (160,132 ) Amortization of net actuarial loss (gain) 150 (4,108 ) Amortization of prior service benefits (195 ) (195 ) Total recognized in other comprehensive income (loss) before-tax 246,478 (164,435 ) As of March 31, 2016, the amounts in Accumulated other comprehensive income (loss), which will be amortized as prior service benefits and actuarial loss over the next fiscal year, are estimated to be ¥195 million and ¥785 million, respectively. Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost are as follows: 2014 2015 2016 Weighted-average assumptions used to determine benefit obligations at fiscal year end: Discount rates 0.96 % 0.76 % 0.37 % Rates of increase in future compensation levels 2.00-4.80 % 2.00-4.80 % 1.80-4.80 % Weighted-average assumptions used to determine net periodic benefit cost during the year: Discount rates 1.44 % 0.96 % 0.76 % Rates of increase in future compensation levels 2.31-6.57 % 2.00-4.80 % 2.00-4.80 % Expected rates of return on plan assets 2.42 % 2.17 % 1.95 % In estimating the discount rates, the MHFG Group uses interest rates on high-quality fixed-income government and corporate bonds. The durations of such bonds closely match those of the benefit obligations. During the fiscal year ended March 31, 2014, the Group changed the calculation method of the discount rates and revised the benefit formula for certain major plans to refine the estimate in respect of benefit obligations. As a result of these refinements, total benefit obligations of the Group, at March 31, 2014, decreased by ¥110,744 million. Assumed discount rates are reevaluated at each measurement date. The expected rate of return for each asset category is based primarily on various aspects of the long-term prospects for the economy that include historical performance and the market environment. The following table sets forth the combined funded status and amounts recognized in the accompanying consolidated balance sheets at March 31, 2015 and 2016 for the plans of MHFG and its subsidiaries: 2015 2016 (in millions of yen) Change in benefit obligations: Benefit obligations at beginning of fiscal year 1,320,690 1,392,459 Service cost 33,578 38,032 Interest cost 13,060 10,479 Plan participants’ contributions 1,179 1,192 Actuarial loss (gain) 86,780 125,122 Foreign exchange translation 2,444 (4,054 ) Benefits paid (50,266 ) (51,392 ) Lump-sum payments (15,006 ) (16,630 ) Benefit obligations at end of fiscal year 1,392,459 1,495,208 Change in plan assets: Fair value of plan assets at beginning of fiscal year 1,706,054 2,081,600 Actual return (negative return) on plan assets 371,694 5,058 Foreign exchange translation 1,833 (3,312 ) Employer contributions 51,106 49,850 Plan participants’ contributions 1,179 1,192 Benefits paid (50,266 ) (51,392 ) Fair value of plan assets at end of fiscal year 2,081,600 2,082,996 Funded status 689,141 587,788 Amounts recognized in the consolidated balance sheets consist of: Prepaid pension cost 712,523 612,102 Accrued pension liability (23,382 ) (24,314 ) Net amount recognized 689,141 587,788 Amounts recognized in Accumulated other comprehensive income (loss) before-tax consist of: Prior service benefits (cost) (830 ) (1,025 ) Net actuarial gain (loss) 221,859 57,619 Net amount recognized 221,029 56,594 Note: The aggregated accumulated benefit obligations of these plans were ¥1,390,738 million and ¥1,493,393 million, respectively, as of March 31, 2015 and 2016. The defined benefit plans generally employ a multi-variable and non-linear formula based upon rank and years of service. Employees with service in excess of one year are qualified to receive lump-sum severance indemnities. The following table shows the projected benefit obligations and the fair value of plan assets for the plans of MHFG and its subsidiaries with projected benefit obligations in excess of plan assets, and the accumulated benefit obligations and the fair value of plan assets for the plans with accumulated benefit obligations in excess of plan assets at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Plans with projected benefit obligations in excess of plan assets: Projected benefit obligations 51,707 50,554 Fair value of plan assets 28,325 26,240 Plans with accumulated benefit obligations in excess of plan assets: Accumulated benefit obligations 49,986 48,738 Fair value of plan assets 28,325 26,240 Note: The plans with projected benefit obligations in excess of plan assets include those with accumulated benefit obligations in excess of plan assets. Investment policies and asset allocation In managing plan assets, the MHFG Group determines the appropriate levels of risk that the Group can assume under the given circumstances to maximize the investment returns from a long-term perspective while ensuring that the sufficient funds will be available to plan participants and beneficiaries. Generally, the investment returns are relative to the risks involved. In considering the maximum levels of risk that the MHFG Group can assume, it primarily considers the following factors; the employers’ burden of maintaining the benefit plans based on the design of the plans and future plan contributions, the age distribution of the plan participants and beneficiaries, the financial conditions of the employers, and the employers’ ability to absorb future variability in plan premiums. The long-term asset allocation to each asset category such as Japanese equity securities, Japanese debt securities, foreign equity securities and foreign debt securities is determined based upon the optimal portfolio, which is estimated to yield the maximum return within the range of an acceptable level of risk. Additionally, the asset allocation is reviewed whenever there are large fluctuations in pension plan liabilities caused by modifications of pension plans, or there are changes in the market environment. When selecting an investment in each asset category, the MHFG Group takes into consideration credit standing of an investee, concentration of credit risk to a certain investee, liquidity of a financial instrument, etc. The investments in each asset category are further diversified across funds, strategies, sectors, etc. There is no significant investment in a single investee except Japanese government bonds. Certain subsidiaries of MHFG established employee retirement benefit trusts and transferred their assets to the trusts as plan assets. These assets are separated from the employer’s proprietary assets for the payment to the plan beneficiaries. The assets held in these trusts are primarily Japanese equity securities and have been entrusted directly to qualified trustees including trust banks. MHFG and certain subsidiaries’ target allocation for the plan assets, excluding those of the employee retirement benefit trusts, at March 31, 2016 is as follows: Asset category Asset ratio Japanese equity securities 5.00 % Japanese debt securities 44.00 % Foreign equity securities 25.00 % Foreign debt securities 10.00 % General account of life insurance companies 14.00 % Other 2.00 % Total 100.00 % Note: General account of life insurance companies is a contract with life insurance companies which guarantees payments of principal and predetermined interest rates. Fair value of plan assets The following table presents the fair value of plan assets of MHFG and its subsidiaries at March 31, 2015 and 2016, by asset class. For the detailed information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy and the valuation methodologies, see Note 27 “Fair value”. 2015 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in billions of yen) Japanese equity securities: Common stocks (1) 1,085 — — 1,085 1,114 1 — 1,115 Pooled funds (2) 9 65 — 74 10 51 — 61 Japanese debt securities: Government bonds 240 — — 240 262 — — 262 Pooled funds (2) — 73 — 73 — 84 — 84 Other — 28 — 28 — 32 — 32 Foreign equity securities: Common stocks 106 4 — 110 98 4 — 102 Pooled funds (2) 16 146 — 162 — 154 — 154 Foreign debt securities: Government bonds 66 7 — 73 72 6 — 78 Pooled funds (2) — 13 — 13 — 13 — 13 Other — 16 — 16 — 18 — 18 General account of life insurance companies (3) — 118 — 118 — 121 — 121 Hedge funds — — 3 3 — — 3 3 Other 84 (4) 3 (5) — 87 44 (4) (4 ) (5) — 40 Total assets at fair value 1,606 473 3 2,082 1,600 480 3 2,083 Notes: (1) This class represents equity securities held in the employee retirement benefit trusts of ¥1,085 billion and ¥1,115 billion at March 31, 2015 and 2016, respectively, which are well-diversified across industries. (2) These classes primarily include pension investment fund trusts. Investments in these classes are generally measured at their net asset values per share and can be redeemed within a short-term period upon request. (3) Investments in this class are measured at conversion value. (4) Amounts primarily include cash and short-term assets carried at fair value. (5) Amounts primarily include foreign exchange contracts carried at fair value. Amounts of actual returns on and purchases and sales of Level 3 assets during the fiscal years ended March 31, 2015 and 2016 were not significant. Contributions The total contribution of approximately ¥50 billion is expected to be paid to the pension plans during the fiscal year ending March 31, 2017, based on the current funded status and expected asset return assumptions. Estimated future benefit payments The following table presents forecasted benefit payments including the effect of expected future service for the fiscal years indicated: (in millions of yen) Fiscal year ending March 31: 2017 66,777 2018 68,373 2019 69,634 2020 70,856 2021 71,263 2022-2026 350,152 |
Stock-based compensation
Stock-based compensation | 12 Months Ended |
Mar. 31, 2016 | |
Stock-based compensation | 21. Stock-based compensation Stock options MHFG, MHBK (the former MHBK and the former Mizuho Corporate Bank, Ltd. (“MHCB”) merged on July 1, 2013), MHTB and MHSC have stock options, in the form of stock acquisition rights, for directors (excluding the outside directors) and executive officers of the respective companies (hereinafter referred to collectively as the “Directors”). In this plan (“MHFG Stock Plan”), 1,000 shares of MHFG common stock shall be issued or transferred upon exercise of each of the stock acquisition rights. The amount to be paid upon exercise shall be 1 yen per share. The contractual term of the stock acquisition rights is 20 years. A holder may exercise the stock acquisition rights only after the date on which such holder loses the status as a Director of MHFG, MHBK, MHTB or MHSC. The following is a roll-forward of MHFG Stock Plan for the fiscal year ended March 31, 2016: Number of Weighted-average Weighted-average Aggregate (in yen) (in years) (in millions of yen) Outstanding at beginning of fiscal year 23,958,000 1 Exercised during fiscal year 6,768,000 1 Outstanding at end of fiscal year 17,190,000 1 17.46 2,872 Exercisable at end of fiscal year — — — — There were no non-vested stock options remaining as of March 31, 2016. The following table presents the assumptions used in the Black-Scholes option pricing model to estimate the fair value of the stock acquisition rights granted during the fiscal year ended March 31, 2015. The risk-free interest rate is based on the Japanese government bonds yield curve for the expected remaining term in effect at the date of grant. The expected volatility is based on the historical trading data of MHFG common stock. The expected remaining term is based on the average service period of Directors of MHFG, MHBK, MHTB and MHSC, which represents the period of time that stock acquisition rights granted are expected to be outstanding. The expected dividend yield is based on the dividend rate of MHFG common stock at the date of grant. 2015 Risk-free interest rate 0.01 % Expected volatility 25.91 % Expected remaining term (in years) 2.46 Expected dividend yield 3.42 % The weighted-average grant-date fair value of stock acquisition rights granted during the fiscal years ended March 31, 2014 and 2015 was ¥192,610 and ¥186,990, respectively. The compensation cost related to this plan recognized in income was ¥1,527 million and ¥1,795 million during the fiscal years ended March 31, 2014 and 2015, respectively. In May, 2015, MHFG announced discontinuance of the current stock option program along with the introduction of performance payments and performance-based stock compensation for Directors. Thereafter, MHFG has not issued and will not issue any new stock options. Performance-based stock compensation MHFG, MHBK, MHTB and MHSC introduced a new performance-based stock compensation program for Directors using a trust. The program utilizes the Board Benefit Trust framework. The performance-based stock compensation shall be paid in the form of shares of common stock of MHFG acquired from the stock market through a trust with an aim to align the officers’ interests with those of the shareholders and increase the incentive to enhance corporate value. The payment thereof shall reflect each officer’s performance. The entire amount of the payments in respect of the performance-based stock compensation shall be deferred over three years and the deferred portion will be subject to reduction or forfeiture depending on certain factors, including the performance of the MHFG group or the relevant Directors. The compensation cost with regard to the performance-based stock compensation will be determined based upon the fair value of shares of MHFG common stock acquired from the stock market through a trust and will be recognized over the three years deferral period starting from the fiscal year ending March 31, 2017. |
Derivative financial instrument
Derivative financial instruments | 12 Months Ended |
Mar. 31, 2016 | |
Derivative financial instruments | 22. Derivative financial instruments The MHFG Group enters into derivative financial instruments in response to the diverse needs of customers, to control the risk related to the assets and liabilities of the MHFG Group, as part of its asset and liability management, and for proprietary trading purposes. The MHFG Group is exposed primarily to market risk associated with interest rate, commodity, foreign currency, and equity products. Market risk arises from changes in market prices or indices, interest rates and foreign exchange rates that may result in an adverse change in the market value of the financial instrument or an increase in its funding costs. Exposure to market risk is managed by imposing position limits and monitoring procedures and by initiating hedging transactions. In addition to market risk, the MHFG Group is exposed to credit risk associated with counterparty default or nonperformance in respect of transactions. Credit risk arises when a counterparty fails to perform according to the terms and conditions of the contract and the value of the underlying collateral held, if applicable, is not sufficient to recover resulting losses. The exposure to credit risk is measured by the fair value of all derivatives in a gain position and its potential increase at the balance sheet dates. The exposure to credit risk is managed by entering into legally enforceable master netting agreements to mitigate the overall counterparty credit risk, requiring underlying collateral and guarantees based on an individual credit analysis of each obligor and evaluating the credit features of each instrument. In addition, credit approvals, limits and monitoring procedures are also imposed. Notional amount and fair value of derivative contracts The following table summarizes the notional and fair value amounts of derivative instruments outstanding as of March 31, 2015 and 2016. The fair values of derivatives are presented on a gross basis and not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under master netting agreements in the consolidated balance sheets, or the table below. Fair value Derivative receivables (2) Derivative payables (2) 2015 Notional amount (1) Designated Not designated Designated Not designated (in billions of yen) Interest rate contracts 1,115,149 — 9,612 — 9,374 Foreign exchange contracts 142,428 3 3,602 3 3,604 Equity-related contracts 2,767 — 197 22 199 Credit-related contracts 4,967 — 42 — 36 Other contracts 333 — 38 — 33 Total 1,265,644 3 13,491 25 13,246 Fair value Derivative receivables (2) Derivative payables (2) 2016 Notional amount (1) Designated Not designated Designated Not designated (in billions of yen) Interest rate contracts 1,066,252 — 11,522 — 11,269 Foreign exchange contracts 141,517 4 3,126 1 2,979 Equity-related contracts 3,115 18 152 — 140 Credit-related contracts 4,826 — 43 — 37 Other contracts 327 — 59 — 55 Total 1,216,037 22 14,902 1 14,480 Notes: (1) Notional amount includes the sum of gross long and gross short third-party contracts. (2) Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. The MHFG Group provided and/or accepted cash collateral for derivative transactions under master netting agreements. The cash collateral, not offset against derivative positions, was included in Other assets and Other liabilities, respectively, of which the amounts were ¥674 billion and ¥737 billion at March 31, 2015, and ¥885 billion and ¥716 billion at March 31, 2016, respectively. Hedging activities In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged. Each derivative must be designated as a hedge, with documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, and how effectiveness is to be assessed prospectively and retrospectively. The extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly. Any ineffectiveness must be reported immediately in earnings. The MHFG Group’s hedging activities include fair value and net investment hedges. Fair value hedges The MHFG Group primarily uses option and forward contracts to modify exposure to changes in the fair value of available-for-sale securities. For qualifying fair value hedges, all changes in the fair value of the derivative and the corresponding hedged item relating to the risk being hedged are recognized in earnings in Investment gains (losses)—net. The change in fair value of the portion of the hedging instruments excluded from the assessment of hedge effectiveness is recorded in Trading account gains (losses)—net. No ineffectiveness exists because the MHFG Group chooses to exclude changes in the option’s time value and differences between the spot and the forward prices from the effectiveness test. If the hedge relationship is terminated, the fair value adjustment to the hedged item continues to be reported as part of the basis of the item and is amortized to earnings as a yield adjustment. The following table summarizes gains and losses information related to fair value hedges for the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income 2014 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts 801 (1,112 ) — (311 ) Total 801 (1,112 ) — (311 ) Gains (losses) recorded in income 2015 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts (29,666 ) 28,005 — (1,661 ) Total (29,666 ) 28,005 — (1,661 ) Gains (losses) recorded in income 2016 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts 14,623 (18,224 ) — (3,601 ) Total 14,623 (18,224 ) — (3,601 ) Net investment hedges The MHFG Group uses forward foreign exchange contracts and foreign currency-denominated debt instruments to protect the value of net investments in non-Japanese subsidiaries from foreign currency exposure. Under net investment hedges, both derivatives and nonderivative financial instruments qualify as hedging instruments. The foreign currency-denominated debt instruments qualifying as hedging instruments include deposits and long-term debt, of which the carrying amounts of the portion designated as net investment hedges are included within the respective items in the consolidated balance sheets as well as relevant accompanying notes. For net investment hedges, the change in the fair value of a hedging derivative instrument or nonderivative hedging financial instrument is recorded in Foreign currency translation adjustments within Accumulated other comprehensive income, provided that the hedging instrument is designated and is effective as a hedge of the net investment. The change in fair value of the ineffective portion is recorded in Foreign exchange gains (losses)—net in earnings. No amount is excluded from the assessment of hedge effectiveness of net investment hedges. The following table summarizes gains and losses information related to net investment hedges for the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income and other comprehensive income (“OCI”) 2014 2015 2016 Effective portion recorded in OCI Ineffective portion recorded in income Effective portion recorded in OCI Ineffective portion recorded in income Effective portion recorded in OCI Ineffective portion recorded in income (in millions of yen) Financial instruments hedging foreign exchange risk (102,150 ) (7,316 ) (53,252 ) (2,678 ) 46,697 696 Total (102,150 ) (7,316 ) (53,252 ) (2,678 ) 46,697 696 Note: No amount related to the effective portion of net investment hedges was reclassified from Accumulated other comprehensive income to earnings for the fiscal years ended March 31, 2014 and 2015, respectively. Related to the effective portion of net investment hedges, the gains of ¥345 million was reclassified from Accumulated other comprehensive income to earnings for the fiscal year ended March 31, 2016. Derivative instruments not designated or qualifying as hedges The MHFG Group enters into the following derivative transactions that do not qualify for hedge accounting with a view to implementing risk management hedging strategies: (1) interest-rate swap transactions for the purpose of hedging the interest-rate risks in deposits, loans etc., (2) currency swap transactions for the purpose of hedging the foreign exchange risk of these assets, and (3) credit derivatives for the purpose of hedging the credit risk in loans, residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), CLO and other similar assets. Such derivatives are accounted for as trading positions. The changes in fair value of these instruments are primarily recorded in Trading account gains (losses)—net, even though they are used to mitigate or transform the risk of exposures arising from banking activities. The net gain (loss) resulting from changes in the fair value of certain credit derivatives where the Group purchases protection to mitigate its credit risk exposure, related to its corporate loan portfolio, is recorded in Other noninterest income (expenses). The following table summarizes gains and losses on derivatives not designated or qualifying as hedges during the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income 2014 2015 2016 (in millions of yen) Interest rate contracts (79,562 ) 265,324 319,225 Foreign exchange contracts (13,167 ) (93,601 ) 65,101 Equity-related contracts (1) (41,296 ) (100,326 ) 21,571 Credit-related contracts (2) (7,761 ) (18,007 ) (6,960 ) Other contracts (6,857 ) 368 2,015 Total (148,643 ) 53,758 400,952 Notes: (1) The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is not included in the above table. (2) Amounts include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. Credit derivatives A credit derivative is a bilateral contract between a seller and a buyer of protection against the credit risk of a particular entity. Credit derivatives generally require that the seller of credit protection make payments to the buyer upon the occurrence of predefined credit events, which include bankruptcy, dissolution or insolvency of the referenced entity. The MHFG Group either purchases or writes protection on either a single name or a portfolio of reference credits. The Group enters into credit derivatives to help mitigate credit risk in its corporate loan portfolio and other cash positions, to take proprietary trading positions, and to facilitate client transactions. The notional amount of credit derivatives represents the maximum potential amount of future payments the seller could be required to make. If the predefined credit event occurs, the seller will generally have a right to collect on the underlying reference credit and any related cash flows, while being liable for the full notional amount of credit protection to the buyer. The Group manages credit risk associated with written protection by purchasing protection with identical or similar underlying reference credits, which substantially offsets its exposure. Thus, the notional amount is not necessarily a reliable indicator of the Group’s actual loss exposure. The following table summarizes the notional and fair value amounts of credit derivatives at March 31, 2015 and 2016: 2015 2016 Notional amount Fair value Notional amount Fair value (in billions of yen) Credit protection written: Investment grade 1,619 29 1,603 14 Non-investment grade 822 5 763 1 Total 2,441 34 2,366 15 Credit protection purchased 2,626 (28 ) 2,592 (9 ) Note: The rating scale is based upon either the external ratings or the internal ratings of the underlying reference credit. The lowest investment grade rating is considered to be BBB - The following table shows the maximum potential amount of future payments for credit protection written by expiration period at March 31, 2015 and 2016: Maximum payout/Notional amount 2015 2016 (in billions of yen) One year or less 343 538 After one year through five years 2,032 1,729 After five years 66 99 Total 2,441 2,366 Note: The maximum potential amount of future payments is the aggregate notional amount of the credit derivatives where the Group wrote the credit protection, and it has not been reduced by the effect of any amounts that the Group may possibly collect on the underlying assets and the related cash flows, nor netted against that of credit protection purchased. Credit-related contingent features Certain of the MHFG Group’s derivative instruments contain provisions that require the Group’s debt to maintain an investment grade credit rating from the major credit rating agencies. If the Group’s debt credit rating were to fall below investment grade, the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments which are in net liability positions for the Group. The following table shows the quantitative information about derivative instruments with credit-risk-related contingent features at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions 799 790 Collateral provided to counterparties in normal course of business 755 746 Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered 44 44 |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Mar. 31, 2016 | |
Commitments and contingencies | 23. Commitments and contingencies Obligations under guarantees The MHFG Group provides guarantees or indemnifications to counterparties to enhance their credit standing and enable them to complete a variety of business transactions. A guarantee represents an obligation to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing arrangement or other contractual obligation. The types of guarantees under ASC 460, “Guarantees” (“ASC 460”) provided by the MHFG Group are described below. Performance guarantees Performance guarantees are issued to guarantee customers’ performance under contractual arrangements such as a tender bid on a construction project or the completion of a construction project. Guarantees on loans Guarantees on loans include obligations to guarantee the customers’ borrowing contracts. The MHFG Group is required to make payments to the guaranteed parties in the event that customers fail to fulfill obligations under the contracts. Guarantees on securities Guarantees on securities include obligations to guarantee securities, such as bonds issued by customers. Other guarantees Other guarantees include obligations to guarantee customers’ payments, such as tax payments. Guarantees for the repayment of trust principal The MHFG Group provides certain trust products with guarantees for the repayment of trust principal, e.g., loan trusts and certain jointly operated designated money trusts. Pursuant to Japanese trust-related laws, trustees are prohibited from compensating beneficiaries for any loss in the beneficial interests in each trust. However, under a special condition of the Japanese trust-related laws, trust banks as trustees are allowed to enter into an agreement to provide compensation for any loss in the principal of the trust. The MHFG Group manages and administers the trust assets to minimize exposures against losses from the guarantees for the repayment of trust principal, including writing-off impaired loans and charging it to the trust account profits. In performing its fiduciary duties, the MHFG Group also manages the trust assets separately from its own proprietary assets on behalf of customers and keeps separate records for the trust activities. The MHFG Group consolidates certain guaranteed principal money trusts. See Note 24 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts. The contract amounts of guarantees for repayment of unconsolidated trust principal are presented in the tables below. Part of the trust account profits is set aside as a reserve in trust accounts to absorb losses in the trust asset portfolios in accordance with relevant Japanese laws concerning the trust business and/or trust agreements. Statutory reserves for loan trusts and reserves for jointly operated designated money trusts are calculated based on the trust principal or the balance of loans and other assets in the trust accounts. Since the probability of principal indemnification is considered to be remote, the MHFG Group had no related reserve for credit losses recorded in its consolidated financial statements. Liabilities of trust accounts The MHFG Group, as trustee, may enter into an agreement with a third party who is not the party to the relevant trust agreement to the extent necessary to handle the trust affairs for the purpose of fulfilling the objectives of the trust and, as such, the trustee shall be allowed to assume certain liabilities. Pursuant to Japanese trust-related laws, the trustee is ultimately liable to pay those liabilities out of its proprietary assets in the event that the trust assets are insufficient to cover those liabilities. The amount of trust liabilities rarely exceeds the amount of trust assets and, therefore, those liabilities are generally covered by the corresponding trust assets. To avoid the demand for payment out of the proprietary assets, the trustee can enter into a special covenant of limited liability under which the trust creditors agree to limit the trustee’s liability to the value of the trust assets and to waive the right for compulsory execution against the trustee’s proprietary assets. The MHFG Group regularly monitors the condition of trust accounts to minimize exposures against making payment. The amounts of such liabilities in the trust accounts, excluding those with the special covenant of limited liability, are presented in the tables below. Liabilities of trust accounts principally include obligations to return collateral under security lending transactions and other transactions. Derivative financial instruments Certain written options and credit default swaps are deemed guarantees pursuant to the definition of guarantees in ASC 460 if these contracts require the MHFG Group to make payments to counterparties based on changes in an underlying instrument or index that is related to an asset, a liability, or an equity security of the counterparties. The MHFG Group’s payments could involve a gross settlement or a net settlement. Because it is difficult in practice to determine whether the counterparty has the asset, the liability or the equity security relating to the underlying, the MHFG Group has decided to include all credit default swaps and written options, excluding written options outside the scope of ASC 460, in the guarantee disclosures. Carrying amount The MHFG Group records all guarantees and similar obligations subject to ASC 460 at fair value in the consolidated balance sheets at the inception of the guarantee. The total carrying amount of guarantees and similar obligations at March 31, 2015 and 2016 was ¥493 billion and ¥357 billion, respectively, and was included in Other liabilities and Trading account liabilities. The total includes the carrying amounts of derivatives that are deemed to be guarantees, which amounted to ¥472 billion and ¥336 billion at March 31, 2015 and 2016, respectively. Maximum exposure under guarantee contracts The table below summarizes the remaining term and maximum potential amount of future payments by type of guarantee at March 31, 2015 and 2016. The maximum potential amount of future payments disclosed below represents the contractual amounts that could be required to be repaid in the event of the guarantees being executed, without consideration of possible recoveries under recourse provisions or from collateral held. With respect to written options included in derivative financial instruments in the table below, in theory, the MHFG Group is exposed to unlimited losses; therefore, the table shows the notional amounts of the contracts as a substitute for the maximum exposure. The MHFG Group, when necessary, requires collateral such as cash, investment securities and real estate or third-party guarantees depending on the amount of credit risk involved, and employs means such as sub-participation 2015 Maximum Amount by expiration period One year or less After one year After five years (in billions of yen) Performance guarantees 2,226 1,147 815 264 Guarantees on loans 325 103 47 175 Guarantees on securities 184 149 35 — Other guarantees 1,556 1,112 360 84 Guarantees for the repayment of trust principal 140 — 110 30 Liabilities of trust accounts 14,936 14,756 51 129 Derivative financial instruments 22,216 11,163 9,754 1,299 2016 Maximum Amount by expiration period One year or less After one year After five years (in billions of yen) Performance guarantees 2,110 1,049 909 152 Guarantees on loans 297 117 20 160 Guarantees on securities 203 67 136 — Other guarantees 1,571 1,206 325 40 Guarantees for the repayment of trust principal 1,141 1,051 63 27 Liabilities of trust accounts 12,747 12,537 79 131 Derivative financial instruments 15,792 6,505 8,032 1,255 The table below presents the maximum potential amount of future payments of performance guarantees, guarantees on loans, guarantees on securities and other guarantees classified based on internal ratings at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Investment grade 3,267 3,160 Non-investment grade 1,024 1,022 Total 4,291 4,182 Note: Investment grade in the internal rating scale generally corresponds to BBB- or above in the external rating scale. Other off-balance-sheet instruments In addition to guarantees, the MHFG Group issues other off-balance-sheet instruments to its customers, such as lending-related commitments and commercial letters of credit. Under the terms of these arrangements, the MHFG Group is required to extend credit or make certain payments upon the customers’ requests. Commitments to extend credit Commitments to extend credit are legally binding agreements to lend to customers on demand. They usually have set maturity dates. These agreements differ from guarantees in that they are generally revocable or contain provisions that enable the MHFG Group to avoid payment or reduce the amount of credit extended under certain conditions, such as the deterioration of the borrower’s financial condition or other reasonable conditions. The MHFG Group monitors the financial condition of the potential borrowers throughout the commitment period to determine whether additional collateral or changes in the terms of the commitment are necessary. Since many of these commitments to extend credit expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments to invest in securities Commitments to invest in securities include legally binding contracts to make additional contributions to investment funds, such as private equity funds in accordance with the terms of investment agreements. Commercial letters of credit Commercial letters of credit are issued in connection with customers’ trade transactions. Normally, the customers cannot receive the goods until they make payment to a bank, and therefore these commercial letters of credit are collateralized by the underlying goods. Upon issuance of commercial letters of credit, the MHFG Group monitors the credit risk associated with these transactions to determine if additional collateral is required. The table below summarizes the contractual amounts with regard to these undrawn commitments at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Commitments to extend credit (Note) 71,750 75,742 Commercial letters of credit 584 448 Total 72,334 76,190 Note: Commitments to extend credit include commitments to invest in securities. Allowance for losses on off-balance-sheet instruments The amounts of allowance for losses on off-balance-sheet instruments at March 31, 2015 and 2016 were ¥118 billion and ¥100 billion, respectively. Leases The MHFG Group leases certain office space and equipment under noncancelable agreements. The lease periods for these leases range from less than 1 year to around 30 years. These leases include cancellation clauses with penalties of a maximum of approximately 5 years-worth of rentals and/or periodic adjustment clauses of rentals. The table below shows future minimum lease payments for capitalized leases and future minimum rental payments for operating leases at March 31, 2016: Capitalized leases Operating leases (in millions of yen) Fiscal year ending March 31: 2017 10,053 53,117 2018 9,075 46,086 2019 8,290 40,736 2020 6,330 36,399 2021 3,841 33,830 2022 and thereafter 1,384 66,720 Total minimum lease/rental payments 38,973 276,888 Amount representing interest 1,162 Present value of minimum lease payments 37,811 Total rental expense for the fiscal years ended March 31, 2014, 2015 and 2016 was ¥95,941 million, ¥109,390 million and ¥118,400 million, respectively. During prior years, the MHFG Group’s major banking subsidiaries sold their head offices (including land, buildings, facilities and equipment) to third parties. Concurrent with the sales, these subsidiaries leased the properties back for periods of 5 and 10 years for total rental payments for these periods of ¥214,690 million. The terms of certain lease agreements were changed during the fiscal years ended March 31, 2009, 2011, 2012 and 2014, and the total rental payments for these periods increased to ¥282,832 million, as a consequence. The MHFG Group accounted for the transactions as operating leases. The future minimum rental payments under the terms of the related lease agreements were ¥69,556 million, ¥58,336 million and ¥49,883 million at March 31, 2014, 2015 and 2016, respectively. During the fiscal year ended March 31, 2014, MHFG began to lease its head office from a third party and accounted for the lease arrangement as operating lease. Legal proceedings The MHFG Group is involved in normal collection proceedings initiated by the Group and other legal proceedings in the ordinary course of business. The Group’s Indonesian subsidiary acts as the collateral agent for the trustee of bond issuances made by subsidiaries of Asia Pulp & Paper Company Ltd. (“APP”). In that role, the subsidiary is involved in a dispute between the bondholders and such APP subsidiaries in their capacities as the issuers, guarantors and/or pledgors of security for the bonds relating to foreclosure proceedings on the collateral and the subsidiary has been named as a defendant in a lawsuit brought by the obligors under the bonds in Indonesia. The Group’s consolidated financial statements do not include a reserve in relation to this dispute because the Group does not believe that the resolution of this matter will have a significant impact on the consolidated financial condition or results of operations of the Group, although there can be no assurance as to the foregoing. |
Variable interest entities and
Variable interest entities and securitizations | 12 Months Ended |
Mar. 31, 2016 | |
Variable interest entities and securitizations | 24. Variable interest entities and securitizations Variable interest entities In the normal course of business, the MHFG Group is involved with VIEs primarily through the following types of transactions: asset-backed commercial paper/loan programs, asset-backed securitizations, investments in securitization products, investment funds, trust arrangements, and structured finance. The Group consolidates certain of these VIEs, where the Group is deemed to be the primary beneficiary because it has both (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The MHFG Group reassesses whether it is the primary beneficiary on an ongoing basis as long as the Group has any continuing involvement with the VIE. There are also other VIEs, where the Group has determined that it is not the primary beneficiary but has significant variable interests. In evaluating the significance of the variable interests, the Group comprehensively takes into consideration the extent of its involvement with each VIE, such as the seniority of its investments, the share of its holding in each tranche and the variability it expects to absorb, as well as other relevant facts and circumstances. The likelihood of loss is not necessarily relevant to the determination of significance, and therefore, “significant” does not imply that there is high likelihood of loss. The maximum exposure to loss that is discussed in this section refers to the maximum loss that the Group could be required to record in its consolidated statements of income as a result of its involvement with the VIE. This represents exposures associated with both on-balance-sheet assets and off-balance-sheet liabilities related to the VIE. Further, this maximum potential loss is disclosed regardless of the probability of such losses and, therefore, it is not indicative of the ongoing exposure which is managed within the Group’s risk management framework. The table below shows the consolidated assets of the Group’s consolidated VIEs as well as total assets and maximum exposure to loss for its significant unconsolidated VIEs, as of March 31, 2015 and 2016: Consolidated VIEs Significant 2015 Consolidated assets Total assets Maximum (in billions of yen) Asset-backed commercial paper/loan programs 2,610 — — Asset-backed securitizations 427 291 19 Investments in securitization products 338 445 154 Investment funds 2,483 2,094 301 Trust arrangements and other 27 — — Total 5,885 2,830 474 Consolidated VIEs Significant 2016 Consolidated assets Total assets Maximum (in billions of yen) Asset-backed commercial paper/loan programs 2,092 — — Asset-backed securitizations 579 205 13 Investments in securitization products 337 445 154 Investment funds 1,660 2,422 367 Trust arrangements and other 24 — — Total 4,692 3,072 534 The Group has not provided financial or other support to consolidated or unconsolidated VIEs that the Group was not previously contractually required to provide. The tables below present the carrying amounts and classification of assets and liabilities on the MHFG Group’s balance sheets that relate to its variable interests in significant unconsolidated VIEs, as of March 31, 2015 and 2016: Assets on balance sheets related to unconsolidated VIEs: 2015 2016 (in billions of yen) Trading account assets 60 55 Investments 187 254 Loans 217 205 Total 464 514 Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: 2015 2016 (in billions of yen) Payables under securities lending transactions 19 27 Trading account liabilities — 1 Total 19 28 Maximum exposure to loss (Note) 474 534 Note: This represents the amount the Group could be required to record in its consolidated statements of income associated with on-balance-sheet exposures and off-balance-sheet liabilities such as undrawn commitments. Asset-backed commercial paper/loan programs The MHFG Group manages several asset-backed commercial paper/loan programs that provide its clients’ off-balance-sheet and/or cost-effective financing. The VIEs used in the programs purchase financial assets, primarily receivables, from clients participating in the programs and provide liquidity through the issuance of commercial paper or borrowings from the MHFG Group backed by the financial assets. While customers normally continue to service the transferred receivables, the MHFG Group underwrites, distributes, and makes a market in commercial paper issued by the conduits. The MHFG Group typically provides program-wide liquidity and credit support facilities and, in some instances, financing to the VIEs. The MHFG Group has the power to determine which assets will be held in the VIEs and has an obligation to monitor these assets. The Group is also responsible for liability management. In addition, through the liquidity and credit support facilities provided to the VIEs, the Group has the obligation to absorb losses that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. Asset-backed securitizations The MHFG Group acts as an arranger of various types of structured finance to meet clients’ off-balance-sheet financing needs. In substantially all of these structured financing transactions, the transfer of the financial asset by the client is structured to be bankruptcy remote by use of a bankruptcy remote entity, which is deemed to be a VIE because its equity holder does not have decision making rights. The MHFG Group receives fees for structuring and/or distributing the securities sold to investors. In some cases, the MHFG Group itself purchases the securities issued by the entities and/or provides loans to the VIEs. In addition, the MHFG Group establishes several single-issue and multi-issue special purpose entities that issue collateralized debt obligations (“CDO”) or CLO, synthetic CDO/CLO or other repackaged instruments to meet clients’ and investors’ financial needs. The MHFG Group also arranges securitization transactions including CMBS, RMBS and others. In these transactions, the MHFG Group acts as an underwriter, placement agent, asset manager, derivatives counterparty, and/or investor in debt and equity instruments. In certain VIEs, where the MHFG Group provides liquidity and credit support facilities, writes credit protection or invests in debt or equity instruments in its role as an arranger, servicer, administrator or asset manager, etc., the Group has the power to determine which assets will be held in the VIEs or to manage and monitor these assets. In addition, through the variable interests above, the Group has the obligation to absorb losses and the right to receive benefits that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. The MHFG Group established certain VIEs to securitize its own mortgage loans. The Group provides servicing for and holds retained subordinated beneficial interests in the securitized mortgage loans. In addition, the Group retains credit exposure in the form of guarantees on these loans. In its role as a servicer, the Group has the power to direct the entity’s activities that most significantly impact the entity’s economic performance by managing defaulted mortgage loans. In addition, through its retained interests and its aforementioned involvement as a guarantor, the Group has the obligation to absorb losses and the right to receive benefits that could potentially be significant to the entity. Therefore, the Group consolidates such VIEs. Investments in securitization products The MHFG Group invests in, among other things, various types of CDO/CLO, synthetic CDO/CLO and repackaged instruments, CMBS and RMBS arranged by third parties for the purpose of generating current income or capital appreciation, which all utilize entities that are deemed to be VIEs. By design, such investments were investment grade at issuance and held by a diverse group of investors. The potential loss amounts of the securities and the loans are generally limited to the amounts invested because the Group has no contractual involvement in such VIEs beyond its investments. Since the Group is involved in these VIEs only as an investor, the Group does not ordinarily have the power to direct the VIEs’ activities that most significantly impact the VIEs’ economic performance. However, the Group consolidates VIEs, where the transactions are tailored by the third party arrangers to meet the Group’s needs as a main investor, who is ultimately deemed to have the power to determine which assets are to be held by the VIEs. The Group also invests in certain beneficial interests issued by VIEs which hold real estate that the Group utilizes. In addition to these variable interests, when the Group has the power including the sole unilateral ability to liquidate the VIEs, the Group consolidates such VIEs. Investment funds The MHFG Group invests in various investment funds, including securities investment trusts, which collectively invest in equity and debt securities that include listed Japanese securities and investment grade bonds. Investment advisory companies or fund management companies, including the Group’s subsidiaries and affiliates, administer and make investment decisions about such investment funds. The Group consolidates certain investment funds where it is deemed to be the primary beneficiary. The Group has determined that certain investment vehicles managed by the Group that have attributes of an investment company (or similar entity) qualify for the deferral from certain requirements of ASC 810 that originated from Statement of Financial Accounting Standards (“SFAS”) No.167 “Amendments to FASB Interpretation No.46(R)” (“SFAS No.167”). Therefore, for these vehicles, the Group determines whether it is the primary beneficiary by evaluating whether it absorbs the majority of expected losses, receives the majority of expected residual returns, or both. Trust arrangements The MHFG Group offers a variety of asset management and administration services under trust arrangements including security investment trusts, pension trusts and trusts used in the securitization of assets originated by and transferred to third parties. The Group receives trust fees for providing services as an agent or fiduciary on behalf of beneficiaries. With respect to guaranteed principal money trust products, the MHFG Group assumes certain risks by providing guarantees for the repayment of principal as required by the trust agreements or relevant Japanese legislation. The MHFG Group manages entrusted funds primarily through the origination of high quality loans and other credit-related products, investing in investment grade marketable securities such as Japanese government bonds and placing cash with the MHFG Group’s subsidiary trust banks. The Group has the power to determine which assets will be held in the VIEs or to manage these assets. In addition, through the principal guarantee agreement, the Group has the obligation to absorb losses that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. However, the MHFG Group does not consolidate certain guaranteed principal money trusts, which invest all the entrusted funds in the MHFG Group itself, as the Group has determined that it has no variable interests (Refer to Note 10 “Due to trust accounts”). See Note 23 “Commitments and contingencies” for the balances of guaranteed trust principal that are not consolidated at March 31, 2015 and 2016. With respect to non-guaranteed trust arrangements, the MHFG Group manages and administers assets on behalf of its customers (trust beneficiaries) in the capacity of a trustee and fiduciary. For substantially all non-guaranteed trust arrangements, the Group generally does not have the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance or has neither the obligation to absorb losses nor the right to receive benefits that could potentially be significant to the VIEs. Therefore, such trust accounts are not included in the consolidated financial statements of the MHFG Group. The Group has determined that, in certain trust arrangements that have attributes of an investment company (or similar entity), certain requirements of ASC 810 that originated from SFAS No.167 are deferred. Therefore, for these trust arrangements, the Group determines whether it is the primary beneficiary by evaluating whether it absorbs the majority of expected losses, receives the majority of expected residual returns, or both. Special purpose entities created for structured finance The MHFG Group is involved in real estate, commercial aircraft and other vessel and machinery and equipment financing to VIEs. As the Group typically only provides senior financing with credit enhanced by subordinated interests and may sometimes act as an interest rate swap counterparty, the Group has determined that it does not have the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance, or even the significant variable interests. Securitization The MHFG Group engages in securitization activities and securitizes mortgage loans, other loans, government and corporate securities and other type of financial assets in the normal course of business. In these securitization transactions, the Group records the transfer of a financial asset as a sale when the accounting criteria for a sale under ASC 860 are met. These criteria are (1) the transferred financial assets are legally isolated from the Group’s creditors, (2) the transferee or beneficial interest holder has the right to pledge or exchange the transferred financial assets, and (3) the Group does not maintain effective control over the transferred financial assets. Otherwise, the transfer is accounted for as a secured borrowing. For the fiscal years ended March 31, 2014, 2015 and 2016, the MHFG Group neither made significant transfers of financial assets nor recognized significant gains or losses in securitization transactions accounted for as sales. The Group did not retain significant interests in securitization transactions accounted for as sales as of March 31, 2015 and 2016. There are certain transactions where transfers of financial assets do not qualify for the aforementioned sales criteria and are accounted for as secured borrowings. These transferred assets continue to be carried on the consolidated balance sheets of the MHFG Group. Such assets are associated with securitization transactions and loan participation transactions, which amounted to ¥220 billion and ¥83 billion as of March 31, 2015, and ¥243 billion and ¥64 billion as of March 31, 2016, respectively. Liabilities associated with securitization and loan participation transactions are presented as Payables under securities lending transactions and Other short-term borrowings or Long-term debt, respectively, on the consolidated balance sheets. |
Fee and commission income
Fee and commission income | 12 Months Ended |
Mar. 31, 2016 | |
Fee and commission income | 25. Fee and commission income Details of Fee and commission income for the fiscal years ended March 31, 2014, 2015 and 2016 are as follows: 2014 2015 2016 (in millions of yen) Securities-related business 170,311 172,234 175,723 Deposits and lending business 114,073 131,491 143,763 Remittance business 108,534 110,181 109,859 Trust fees 48,914 49,827 50,496 Fees for other customer services 233,931 251,924 263,112 Total 675,763 715,657 742,953 Securities-related business fees consist of broker’s fees and markups on securities underwriting and other securities related activities. Remittance business fees consist of service charges for funds transfer and collections. Trust fees are earned primarily by fiduciary asset management and administration services for corporate pension plans, investment funds, and other. Fees for other customer services include fees related to the MHFG Group’s agency business, guarantee related business, and other. |
Trading account gains and losse
Trading account gains and losses | 12 Months Ended |
Mar. 31, 2016 | |
Trading account gains and losses | 26. Trading account gains and losses The MHFG Group performs trading activities through market making, sales, and arbitrage. Accordingly, Trading account gains (losses)—net include gains and losses from transactions undertaken for trading purposes, including both market making for customers and proprietary trading, or transactions through which the Group seeks to capture gains arising from short-term changes in market value. Trading account gains (losses)—net also include gains and losses related to changes in the fair value of derivatives and other financial instruments not eligible for hedge accounting under U.S. GAAP that are utilized to offset mainly interest rate risk related to the Group’s various assets and liabilities, as well as gains and losses related to changes in the fair value of foreign currency-denominated available-for-sale securities for which the fair value option has been elected in accordance with ASC 825, “Financial Instruments” (“ASC 825”). Net trading gains (losses) for the fiscal years ended March 31, 2014, 2015 and 2016 are comprised of the following: 2014 2015 2016 (in millions of yen) Trading account gains (losses)—net: Trading securities 80,606 635,027 156,559 Derivative contracts: Interest rate contracts (1) (79,562 ) 265,324 319,225 Foreign exchange contracts (13,167 ) (93,601 ) 65,101 Equity-related contracts (1) (41,607 ) (101,988 ) 17,970 Credit-related contracts (2) 899 (15,171 ) (1,731 ) Other contracts (6,856 ) 368 2,015 Total (59,687 ) 689,959 559,139 Foreign exchange gains (losses)—net (3) 25,631 (34,520 ) 113,553 Net trading gains (losses) (34,056 ) 655,439 672,692 Notes: (1) The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is included in the above table. (2) Amounts do not include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. The net loss is recorded in Other noninterest expenses. (3) Amounts include realized and unrealized gains and losses on both derivative instruments and nonderivative instruments, such as translation gains and losses related to foreign currency-denominated available-for-sale securities for which the fair value option has been elected in accordance with ASC 825. |
Fair value
Fair value | 12 Months Ended |
Mar. 31, 2016 | |
Fair value | 27. Fair value Fair value measurements ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In addition, ASC 820 precludes (1) the deferral of gains and losses at inception of certain derivative contracts whose fair value was not evidenced by market-observable data, and (2) the use of block discounts when measuring the fair value of instruments traded in an active market, which were previously applied to large holdings of publicly traded financial instruments. Fair value hierarchy ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. The standard describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments. If no quoted market prices are available, the fair values of debt securities and over-the-counter derivative contracts in this category are determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Valuation process The MHFG Group has established clear valuation policies which govern the principles of fair value measurements and the authority and duty of each department. The Group has also established well-documented procedure manuals which describe valuation techniques and related inputs for determining the fair values of various financial instruments. The policies require that the measurement of fair values be carried out in accordance with the procedures performed by the risk management departments or the back offices which are independent from the front offices. The policies also require the risk management departments to check and verify whether the valuation methodologies defined in the procedure manuals are fair and proper and the internal audit departments to periodically review the compliance with the procedures throughout the Group. Although the valuation methodologies and related inputs are consistently used from period to period, a change in the market environment sometimes leads to a change in the valuation methodologies and the inputs. For instance, a change in market liquidity due to a delisting or a new listing is one of the key drivers of revisions to the valuation methodologies and the inputs. The key drivers also include the availability or the lack of market observable inputs and the development of new valuation methodologies. Price verification performed through the Group’s internal valuation process has an important role in identifying whether the valuation methodologies and the inputs need to be changed. The internal valuation process over the prices broker-dealers provide, primarily for Japanese securitization products, is described in more detail below in “ Investments” The following is a description of valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis, including the general classification of such instruments pursuant to the fair value hierarchy and the MHFG Group’s valuation techniques used to measure fair values. During the fiscal year ended March 31, 2016, there were no significant changes made to the Group’s valuation techniques and related inputs. Trading securities and trading securities sold, not yet purchased When quoted prices for identical securities are available in an active market, the Group uses the quoted prices to measure the fair values of securities and such securities are classified in Level 1 of the fair value hierarchy. Level 1 securities include highly liquid government bonds and Ginnie Mae securities. When quoted prices for identical securities are available, but not actively traded, such securities are classified in Level 2 of the fair value hierarchy. When no quoted market prices are available, the Group estimates fair values by using a pricing model with inputs that are observable in the market and such securities are classified in Level 2 of the fair value hierarchy. Level 2 securities include Japanese local government bonds, corporate bonds, and commercial paper. When less liquid market conditions exist for securities, the quoted prices are stale or the prices from independent sources vary significantly, such securities are generally classified in Level 3 of the fair value hierarchy. The fair values of foreign currency denominated securitization products such as RMBS, CMBS, and ABS are determined primarily by using a discounted cash flow model. The key inputs used for the model include default rates, recovery rates, prepayment rates, and discount rates. In the event that certain key inputs are unobservable or cannot be corroborated by observable market data, these financial instruments are classified in Level 3. The investment funds are classified in either Level 1, Level 2, or Level 3 of the fair value hierarchy. Exchange-Traded Derivative financial instruments Exchange-traded derivatives are valued using quoted market prices and consequently are classified in Level 1 of the fair value hierarchy. However, the majority of derivatives entered into by the Group are executed over-the-counter and are valued using internal valuation techniques as no quoted market prices are available for such instruments. The valuation techniques depend on the type of derivatives. The principal techniques used to value these instruments are discounted cash flow models and the Black-Scholes option pricing model, which are widely accepted in the financial services industry. The key inputs vary by the type of derivatives and the nature of the underlying instruments and include interest rate yield curves, foreign exchange rates, the spot price of the underlying, volatility and correlation. Each item is classified in either Level 2 or Level 3 depending on the observability of the significant inputs to the model. Level 2 derivatives include plain vanilla interest rate and currency swaps and option contracts. Derivative contracts valued using significant unobservable correlation or volatility are classified in Level 3 of the fair value hierarchy. Investments The fair values of available-for-sale securities are determined primarily using the same procedures described for trading securities above. Since private placement bonds have no quoted market prices, the fair values of such bonds are estimated based on a discounted cash flow model using interest rates approximating the current rates for instruments with similar maturities and credit risk. Private placement bonds are classified in either Level 2 or Level 3 depending on the observability of the significant inputs to the model, such as credit risk. The fair values of Japanese securitization products such as RMBS, CMBS, CDO, ABS, and CLO are generally based upon single non-binding quoted prices from broker-dealers. Such quotes are validated through the Group’s internal processes and controls. In the rare case where the Group finds the quoted prices to be invalid through its internal valuation process, it adjusts those prices or alternatively estimates their fair values by using a discounted cash flow model to incorporate the Group’s estimates of key inputs such as the most recent value of each underlying asset, cash flows of the underlying assets, and discount margin. The validation of such prices varies depending on the nature and type of the products. For the majority of RMBS, CDO, ABS and CLO products, broker quotes are validated by investigating significant unusual monthly valuation fluctuations and comparing to prices internally computed through discounted cash flow models using assumptions and parameters provided by brokers such as the cash flows of underlying assets, yield curve, prepayment speed and credit spread. For the majority of CMBS, the Group validates broker quotes through a review process that includes the investigation of significant unusual monthly valuation fluctuations and/or a review of underlying assets with significant differences between the valuations of the Group and the broker-dealers being identified. Though most Japanese securitization products are classified in Level 3, certain securitization products such as Japanese RMBS are classified in Level 2, if the quoted prices are verified through either recent market transactions or a pricing model that can be corroborated by observable market data. Other investments, except for investments held by consolidated investment companies, have not been measured at fair value on a recurring basis. Investments held by consolidated investment companies mainly consist of marketable and non-marketable equity securities and debt securities. The fair value of the marketable equity securities is based upon quoted market prices. The fair value of the non-marketable equity securities is based upon significant management judgment, as very limited quoted prices exist. When evaluating such securities, the Group firstly considers recent market transactions of identical securities, if applicable. Thereafter, the Group uses commonly accepted valuation techniques such as earnings multiples based on comparable public securities. Non-marketable Long-term debt Where fair value accounting has been elected for structured notes, the fair values are determined by incorporating the fair values of embedded derivatives that are primarily derived by using the same procedures described for derivative financial instruments above. Such instruments are classified in Level 2 or Level 3 depending on the observability of significant inputs to the model used in determining the fair value of the embedded derivatives. Items measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at March 31, 2015 and 2016, including those for which the MHFG Group has elected the fair value option, are summarized below: 2015 Level 1 Level 2 Level 3 Assets/ (in billions of yen) Assets: Trading securities (1) Japanese government bonds 1,680 32 — 1,712 Japanese local government bonds — 72 — 72 U.S. Treasury bonds and federal agency securities 4,759 134 — 4,893 Other foreign government bonds 2,093 344 — 2,437 Agency mortgage-backed securities 1,132 376 — 1,508 Residential mortgage-backed securities — — 29 29 Commercial mortgage-backed securities — 2 4 6 Certificates of deposit and commercial paper — 813 — 813 Corporate bonds and other 42 1,802 639 2,483 Equity securities 1,045 864 60 1,969 Derivatives: Interest rate contracts 71 9,516 25 9,612 Foreign exchange contracts 17 3,577 11 3,605 Equity-related contracts 58 134 5 197 Credit-related contracts — 41 1 42 Other contracts 1 22 15 38 Available-for-sale securities: Japanese government bonds 16,672 742 — 17,414 Japanese local government bonds — 239 — 239 U.S. Treasury bonds and federal agency securities 117 — — 117 Other foreign government bonds 415 551 — 966 Agency mortgage-backed securities 87 735 — 822 Residential mortgage-backed securities — 97 166 263 Commercial mortgage-backed securities — — 169 169 Japanese corporate bonds and other debt securities — 1,787 155 1,942 Foreign corporate bonds and other debt securities — 657 85 742 Equity securities (marketable) 4,362 35 — 4,397 Other investments — — 53 53 Total assets measured at fair value on a recurring basis (2) 32,551 22,572 1,417 56,540 Liabilities: Trading securities sold, not yet purchased 2,856 345 — 3,201 Derivatives: Interest rate contracts 74 9,293 7 9,374 Foreign exchange contracts 14 3,590 3 3,607 Equity-related contracts 73 129 19 221 Credit-related contracts — 34 2 36 Other contracts 1 17 15 33 Long-term debt (3) — 153 587 740 Total liabilities measured at fair value on a recurring basis 3,018 13,561 633 17,212 2016 Level 1 Level 2 Level 3 Assets/ (in billions of yen) Assets: Trading securities (1) Japanese government bonds 2,272 31 — 2,303 Japanese local government bonds — 79 — 79 U.S. Treasury bonds and federal agency securities 3,729 77 — 3,806 Other foreign government bonds 2,192 373 — 2,565 Agency mortgage-backed securities 995 563 — 1,558 Residential mortgage-backed securities — — 21 21 Commercial mortgage-backed securities — 2 2 4 Certificates of deposit and commercial paper — 881 — 881 Corporate bonds and other 9 1,693 720 2,422 Equity securities 758 641 59 1,458 Derivatives: Interest rate contracts 97 11,396 29 11,522 Foreign exchange contracts 23 3,099 8 3,130 Equity-related contracts 46 95 29 170 Credit-related contracts — 40 3 43 Other contracts — 21 38 59 Available-for-sale securities: Japanese government bonds 15,037 726 — 15,763 Japanese local government bonds — 241 — 241 U.S. Treasury bonds and federal agency securities 438 — — 438 Other foreign government bonds 352 590 — 942 Agency mortgage-backed securities 169 780 — 949 Residential mortgage-backed securities — 87 123 210 Commercial mortgage-backed securities — — 187 187 Japanese corporate bonds and other debt securities — 1,921 174 2,095 Foreign corporate bonds and other debt securities — 739 108 847 Equity securities (marketable) 3,716 65 — 3,781 Other investments — — 42 42 Total assets measured at fair value on a recurring basis (2) 29,833 24,140 1,543 55,516 Liabilities: Trading securities sold, not yet purchased 2,482 148 — 2,630 Derivatives: Interest rate contracts 98 11,168 3 11,269 Foreign exchange contracts 26 2,953 1 2,980 Equity-related contracts 60 56 24 140 Credit-related contracts — 33 4 37 Other contracts — 18 37 55 Long-term debt (3) — 433 623 1,056 Total liabilities measured at fair value on a recurring basis 2,666 14,809 692 18,167 Notes: (1) Trading securities include foreign currency denominated securities for which the MHFG Group elected the fair value option. (2) Amounts included the investments measured at the NAV per share at March 31, 2015 and 2016, of ¥878 billion and ¥682 billion, respectively, of which ¥842 billion and ¥644 billion, respectively, were classified in Level 2, and ¥36 billion and ¥38 billion, respectively, were classified in Level 3. The amounts of unfunded commitments related to these investments at March 31, 2015 and 2016 were ¥25 billion and ¥30 billion, respectively. (3) Amounts represent items for which the Group elected the fair value option. Items measured at fair value on a recurring basis using significant unobservable inputs (Level 3) The following table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the fiscal years ended March 31, 2015 and 2016: 2015 April 1, Gains Gains Transfers Transfers Purchases Sales Issuances Settlements March 31, 2015 Change in (losses) (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 78 — (2) — — — — (33 ) — (16 ) 29 — Commercial mortgage-backed securities 91 — (2) — — — 2 (76 ) — (13 ) 4 — Corporate bonds and other 413 62 (2) — 4 (24 ) 561 (262 ) — (115 ) 639 47 Equity securities 60 13 (2) — — — 6 (18 ) — (1 ) 60 3 Derivatives, net (1) Interest rate contracts 17 (6 ) (2) — — 1 — — — 6 18 (1 ) Foreign exchange contracts 11 (3 ) (2) — — — — — — — 8 (2 ) Equity-related contracts 1 (12 ) (2) — — — — — — (3 ) (14 ) (12 ) Credit-related contracts 17 (19 ) (2) — — — — — — 1 (1 ) — Available-for-sale securities: Residential mortgage-backed securities 220 10 (3) (10 ) (4) — — 16 (21 ) — (49 ) 166 — Commercial mortgage-backed securities 161 4 (3) (2 ) (4) — — 77 (26 ) — (45 ) 169 — Japanese corporate bonds and other debt securities 170 (1 ) (3) 1 (4) — — 39 (8 ) — (46 ) 155 — Foreign corporate bonds and other debt securities 141 6 (3) (1 ) (4) — — — (2 ) — (59 ) 85 — Other investments 69 12 (3) — — — 2 (18 ) — (12 ) 53 8 Liabilities: Trading securities sold, not yet purchased — — (2) — — — 3 (3 ) — — — — Long-term debt 501 (5 ) (5) — 3 (2 ) — — 313 (233 ) 587 (4 ) 2016 April 1, Gains Gains Transfers Transfers Purchases Sales Issuances Settlements March 31, 2016 Change in (losses) (6) (in billions of yen) Assets: Trading securities: Other foreign government bonds — — (2) — — — 1 (1 ) — — — — Residential mortgage-backed securities 29 — (2) — — — — — — (8 ) 21 — Commercial mortgage-backed securities 4 — (2) — — — — — — (2 ) 2 — Corporate bonds and other 639 (43 ) (2) — 25 (34 ) 452 (192 ) — (127 ) 720 (38 ) Equity securities 60 9 (2) — — — 12 (22 ) — — 59 1 Derivatives, net (1) Interest rate contracts 18 (1 ) (2) — — — — — — 9 26 11 Foreign exchange contracts 8 (1 ) (2) — — — — — — — 7 (2 ) Equity-related contracts (14 ) 22 (2) — — — — — — (3 ) 5 14 Credit-related contracts (1 ) — (2) — — — — — — — (1 ) — Other contracts — 1 (2) — — — — — — — 1 1 Available-for-sale securities: Residential mortgage-backed securities 166 — (3) — (4) — — — (4 ) — (39 ) 123 — Commercial mortgage-backed securities 169 — (3) — (4) — — 102 (62 ) — (22 ) 187 — Japanese corporate bonds and other debt securities 155 (2 ) (3) — (4) — — 67 (3 ) — (43 ) 174 (4 ) Foreign corporate bonds and other debt securities 85 2 (3) (5) (4) 23 — 41 — — (38 ) 108 — Other investments 53 7 (3) — — — 5 (20 ) — (3 ) 42 (7 ) Liabilities: Trading securities sold, not yet purchased — — (2) — — — 5 (5 ) — — — — Long-term debt 587 18 (5) — 8 — (1 ) — 305 (258 ) 623 19 Notes: (1) Total Level 3 derivative exposures have been netted on the table for presentation purposes only. (2) Gains (losses) in Earnings are reported in Trading account gains (losses)—net, Foreign exchange gains (losses)—net or Other noninterest income (expenses). (3) Gains (losses) in Earnings are reported in Investment gains (losses)—net. (4) Gains (losses) in OCI are reported in Other comprehensive income (loss). (5) Gains (losses) in Earnings are reported in Other noninterest income (expenses). (6) Amounts represent total gains or losses recognized in earnings during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at March 31, 2015 and 2016. Transfers between levels Transfers of assets or liabilities between levels of the fair value hierarchy are assumed to occur at the beginning of the period. During the fiscal year ended March 31, 2015, the transfers into Level 3 included ¥4 billion of Trading securities and ¥3 billion of Long-term debt. Transfers into Level 3 for Trading securities were primarily due to decreased liquidity for certain Japanese and foreign corporate bonds. Transfers into Level 3 for Long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured notes. During the fiscal year ended March 31, 2015, the transfers out of Level 3 included ¥24 billion of Trading securities, ¥1 billion of net Derivative liabilities and ¥2 billion of Long-term debt. Transfers out of Level 3 for Trading securities were primarily due to increased price transparency for certain Japanese and foreign corporate bonds. Transfers out of Level 3 for net Derivative liabilities were primarily due to increased price observability for certain interest rate derivatives. Transfers out of Level 3 for Long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured notes. During the fiscal year ended March 31, 2016, the transfers into Level 3 included ¥25 billion of Trading securities, ¥23 billion of Available-for-sale securities and ¥8 billion of Long-term debt. Transfers into Level 3 for Trading securities and Available-for-sale securities were primarily due to decreased liquidity for certain Japanese and foreign corporate bonds. Transfers into Level 3 for Long-term debt were primarily due to changes in the impact of unobservable inputs on the value of certain structured notes. During the fiscal year ended March 31, 2016, the transfers out of Level 3 included ¥34 billion of Trading securities. Transfers out of Level 3 for Trading securities were primarily due to increased price transparency for certain Japanese and foreign corporate bonds. Quantitative information about Level 3 fair value measurements The following table presents information about significant unobservable inputs related to the MHFG Group’s material classes of Level 3 assets and liabilities at March 31, 2015 and 2016: 2015 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for ratios and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 195 Discounted cash flow Prepayment rate 2%–18% 7% Price-based Default rate 0%–1% 0% Recovery rate 100%–100% 100% Discount margin 11bps–490bps 63bps Commercial mortgage-backed securities 173 Discounted cash flow Price-based Discount margin 10bps–2,922bps 95bps Corporate bonds and other debt securities 879 Discounted cash flow Prepayment rate (1) 0%–25% 21% Price-based Default rate (1) 0%–5% 2% Recovery rate (1) 60%–71% 69% Discount margin (1) 9bps–1,220bps 112bps Discount margin (2) -96bps–4,342bps 106bps Derivatives, net: Interest rate contracts 18 Internal valuation model (3) IR – IR correlation 20%–100% Default rate (4) 0%–63% Foreign exchange contracts 8 Internal valuation model (3) FX – IR correlation 9%–52% FX – FX correlation 52%–52% FX volatility 11%–23% Default rate (4) 0%–63% Equity-related contracts (14) Internal valuation model (3) Equity – IR correlation 50%–50% Equity – FX correlation 55%–55% Equity volatility 17%–33% Credit-related contracts (1) Internal valuation model (3) Default rate 0%–50% Credit correlation 11%–100% Long-term debt 587 Internal valuation model (3) IR – IR correlation 20%–100% FX – IR correlation 9%–52% FX – FX correlation 52%–52% Equity – IR correlation 50%–50% Equity – FX correlation 55%–55% Equity volatility 16%–34% Default rate 0%–15% Credit correlation 16%–100% 2016 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for ratios and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 144 Discounted cash flow Prepayment rate 3%–19% 7% Price-based Default rate 0%–2% 0% Recovery rate 100%–100% 100% Discount margin 13bps–180bps 60bps Commercial mortgage-backed securities 189 Discounted cash flow Price-based Discount margin 6bps–580bps 37bps Corporate bonds and other debt securities 1,002 Discounted cash flow Prepayment rate (1) 0%–21% 19% Price-based Default rate (1) 0%–2% 2% Recovery rate (1) 60%–69% 68% Discount margin (1) 11bps–1,115bps 151bps Discount margin (2) 10bps–3,850bps 454bps Derivatives, net: Interest rate contracts 26 Internal valuation model (3) IR – IR correlation 32%–100% Default rate (4) 0%–63% Foreign exchange contracts 7 Internal valuation model (3) FX – IR correlation 5%–50% FX – FX correlation 54%–54% Default rate (4) 0%–63% Equity-related contracts 5 Internal valuation model (3) Equity – IR correlation 30%–30% Equity – FX correlation 55%–55% Equity volatility 10%–40% Credit-related contracts (1) Internal valuation model (3) Default rate 0%–42% Credit correlation 29%–100% Long-term debt 623 Internal valuation model (3) IR – IR correlation 32%–100% FX – IR correlation 5%–50% FX – FX correlation 54%–54% Equity – IR correlation 30%–30% Equity – FX correlation 55%–55% Equity correlation 18%–100% Equity volatility 14%–39% Default rate 0%–5% Credit correlation 28%–100% Notes: (1) These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. (2) This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. (3) Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. (4) This input represents the counterparty default rate derived from the MHFG Group’s own internal credit analyses. (5) Weighted averages are calculated by weighting each input by the relative fair value of the respective financial instruments. IR = Interest rate FX = Foreign exchange Sensitivity to unobservable inputs and interrelationship between unobservable inputs The following is a description of the sensitivities and interrelationships of the significant unobservable inputs used to measure the fair values of Level 3 assets and liabilities. (1) Prepayment rate The prepayment rate is the estimated rate at which voluntary unscheduled repayments of the principal of the underlying assets are expected to occur. The movement of the prepayment rate is generally negatively correlated with borrower delinquency. A change in prepayment rate would impact the valuation of the fair values of financial instruments either positively or negatively, depending on the structure of financial instruments. (2) Default rate The default rate is an estimate of the likelihood of not collecting contractual payments. An increase in the default rate would generally be accompanied by a decrease in the recovery rate and an increase in the discount margin. It would also generally impact the valuation of the fair values of financial instruments negatively. (3) Recovery rate The recovery rate is an estimate of the percentage of contractual payments that would be collected in the event of a default. An increase in recovery rate would generally be accompanied by a decrease in the default rate. It would also generally impact the valuation of the fair values of financial instruments positively. (4) Discount margin The discount margin is the portion of the interest rate over a benchmark market interest rate such as LIBOR or swap rates. It primarily consists of a risk premium component which is the amount of compensation that market participants require due to the uncertainty inherent in the financial instruments’ cash flows resulting from credit risk. An increase in discount margin would generally impact the valuation of the fair values of financial instruments negatively. (5) Correlation Correlation is the likelihood of the movement of one input relative to another based on an established relationship. The change in correlation would impact the valuation of derivatives either positively or negatively, depending on the nature of the underlying assets. (6) Volatility Volatility is a measure of the expected change in variables over a fixed period of time. Some financial instruments benefit from an increase in volatility and others benefit from a decrease in volatility. Generally, for a long position in an option, an increase in volatility would result in an increase in the fair values of financial instruments. Items measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities primarily include items that are measured at the lower of cost or fair value, and items that were initially measured at cost and have been written down to fair value as a result of impairment. The following table shows the fair value hierarchy for these items as of March 31, 2015 and 2016: 2015 Total Level 1 Level 2 Level 3 Aggregate cost (in billions of yen) Assets: Loans 111 — — 111 193 Loans held-for-sale — — — — 39 Other investments 10 9 — 1 16 Premises and equipment—net 1 — — 1 8 Total assets measured at fair value on a nonrecurring basis 122 9 — 113 256 2016 Total Level 1 Level 2 Level 3 Aggregate cost (in billions of yen) Assets: Loans 124 — — 124 197 Loans held-for-sale 13 — 7 6 14 Other investments 1 — — 1 2 Premises and equipment—net — — — — 1 Goodwill — — — — 6 Total assets measured at fair value on a nonrecurring basis 138 — 7 131 220 Loans in the table above have been impaired and measured based upon the fair value of the underlying collateral. Loans held-for-sale in the table above are accounted for at the lower of cost or fair value at the end of the period. The items for which fair values are determined by using actual or contractually determined selling price data are classified as Level 2. Due to the lack of current observable market information, the determination of the fair values for items other than the aforementioned requires significant adjustment based upon management judgment and estimation, which results in such items being classified in Level 3 of the hierarchy. Other investments in the table above, which consist of certain equity method investments and non-marketable equity securities, have been impaired and written down to fair value. The fair values of the impaired marketable equity method investments are determined by their quoted market prices. As the securities are traded on an active exchange market, they are classified as Level 1. The fair values of the impaired non-marketable equity securities, which include non-marketable equity method investments, are determined primarily by using a liquidation value technique. As significant management judgment or estimation is required in the determination of the fair values of non-marketable equity securities, they are classified as Level 3. Premises and equipment—net in the table above have been impaired and written down to fair value. Goodwill in the table above is entirely related to Banco Mizuho do Brasil S.A. reporting unit. Due to the decline in the fair value of the reporting unit, the carrying amount of the goodwill was reduced to its fair value which is based on market approach and an impairment loss was recognized. As the determination of the fair value of the goodwill required significant management judgment and estimation, it is classified as Level 3. Fair value option The MHFG Group elected the fair value option for certain eligible financial instruments described below. Foreign currency denominated available-for-sale securities Prior to the adoption of the fair value option in accordance with ASC 825, the changes in fair value of foreign currency denominated available-for-sale securities had been accounted for in AOCI, while the changes in fair value caused by foreign exchange fluctuations of foreign currency denominated financial liabilities had been accounted for in earnings. The MHFG Group elected the fair value option for these securities to mitigate the volatility in earnings due to the difference in the recognition of foreign exchange risk between available-for-sale securities and financial liabilities. Following the election of the fair value option, these securities have been reported as trading securities in Trading account assets. Certain hybrid financial instruments The MHFG Group issues structured notes as part of its client-driven activities. Structured notes are debt instruments that contain embedded derivatives. The Group elected the fair value option for certain structured notes to mitigate accounting mismatches and to achieve operational simplifications. In addition, the Group measures certain notes that contain embedded derivatives at fair value under the practicability exception. These notes continue to be reported in Long-term debt and interest on these notes continues to be reported in Interest expense on long-term debt based on the contractual rates. The differences between the aggregate fair value of these notes and the aggregate unpaid principal balance of such instruments were ¥6 billion and ¥20 billio |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 12 Months Ended |
Mar. 31, 2016 | |
Offsetting of financial assets and financial liabilities | 28. Offsetting of financial assets and financial liabilities Derivatives The MHFG Group enters into master netting arrangements such as International Swaps and Derivatives Association, Inc. (“ISDA”) or similar agreements with counterparties to manage mainly credit risks associated with counterparty default. If the predetermined events including counterparty default occur, these enforceable master netting arrangements or similar agreements give the Group the right to offset derivative receivables and derivative payables and related financial collateral such as cash and securities with the same counterparty. Repurchase and resale agreements and securities lending and borrowing transactions Repurchase and resale agreements and securities lending and borrowing transactions are generally covered by industry standard master repurchase agreements and industry standard master securities lending agreements with netting terms to manage mainly credit risks associated with counterparty default. In the event of default by the counterparty, these agreements with netting terms provide the Group with the right to offset receivables and payables related to such transactions with the same counterparty, and to liquidate the collateral held. The following table provides information about the offsetting of financial assets and financial liabilities at March 31, 2015 and 2016. The table includes derivatives, repurchase and resale agreements, and securities lending and borrowing transactions that are subject to enforceable master netting arrangements or similar agreements irrespective of whether or not they are offset on the Group’s consolidated balance sheets. Amounts not offset on (3) Gross amounts recognized Gross amounts offset on the Net amounts presented on the (2) Financial instruments (4) Cash collateral Net (in billions of yen) 2015 Assets (1) Derivatives 12,679 — 12,679 (10,845 ) (662 ) 1,172 Receivables under resale agreements 8,506 — 8,506 (8,462 ) — 44 Receivables under securities borrowing transactions 4,007 — 4,007 (3,996 ) — 11 Total 25,192 — 25,192 (23,303 ) (662 ) 1,227 Liabilities (1) Derivatives 12,306 — 12,306 (10,706 ) (561 ) 1,039 Payables under repurchase agreements 19,494 — 19,494 (19,378 ) — 116 Payables under securities lending transactions 2,246 — 2,246 (2,242 ) — 4 Total 34,046 — 34,046 (32,326 ) (561 ) 1,159 2016 Assets (1) Derivatives 14,130 — 14,130 (12,167) (599) 1,364 Receivables under resale agreements 7,490 — 7,490 (7,461) — 29 Receivables under securities borrowing transactions 3,327 — 3,327 (3,318) — 9 Total 24,947 — 24,947 (22,946) (599) 1,402 Liabilities (1) Derivatives 13,652 — 13,652 (12,043) (748) 861 Payables under repurchase agreements 16,507 — 16,507 (16,464) — 43 Payables under securities lending transactions 2,538 — 2,538 (2,531) — 7 Total 32,697 — 32,697 (31,038) (748) 911 Notes: (1) Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter (“OTC”) and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. (2) Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. (3) Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. (4) For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. |
Repurchase agreements and secur
Repurchase agreements and securities lending transactions accounted for as secured borrowings | 12 Months Ended |
Mar. 31, 2016 | |
Repurchase agreements and securities lending transactions accounted for as secured borrowings | 29. Repurchase agreements and securities lending transactions accounted for as secured borrowings The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2016: Overnight and Up to 30 days 31-90 days Greater than 90 days Total (in billions of yen) Repurchase agreements 6,289 6,125 3,582 837 16,833 Securities lending transactions 1,909 700 — 236 2,845 Total 8,198 6,825 3,582 1,073 19,678 The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2016: Repurchase Securities lending (in billions of yen) Japanese government bonds and Japanese local government bonds 532 1,891 Foreign government bonds and foreign agency mortgage-backed securities 15,781 700 Commercial paper and corporate bonds 221 27 Equity securities 141 185 Other 158 42 Total (Note) 16,833 2,845 Note: Amounts exceeded the gross amounts recognized in Note 28 “Offsetting of financial assets and financial liabilities” by ¥633 billion, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. The MHFG Group is required to post securities as collateral with a fair value equal to or in excess of the principal amount of the cash borrowed under repurchase agreements. For securities lending transactions, the Group receives collateral in the form of cash. These contracts involve risks, including (1) the counterparty may fail to return the securities at maturity and (2) the fair value of the securities posted may decline below the amount of the Group’s obligation and therefore the counterparty may require additional amounts. The Group attempts to mitigate these risks by entering into transactions mainly with central counterparty clearing houses which revalue assets and perform margin maintenance activities on a daily basis, diversifying the maturities and counterparties, and using mainly highly liquid securities. |
Related party transactions
Related party transactions | 12 Months Ended |
Mar. 31, 2016 | |
Related party transactions | 30. Related party transactions Transactions with directors, executive officers, and their associates The banking subsidiaries of MHFG make loans to the MHFG Group’s directors, executive officers, and their associates in their ordinary course of business. At March 31, 2015 and 2016, outstanding loans to such related parties were not considered significant. These related party loans were made on substantially the same terms, including interest rate and collateral, as those prevailing at the same time for comparable transactions with unrelated parties. At March 31, 2015 and 2016, there were no loans to these related parties that were considered impaired. Other transactions, such as deposits, were entered into between MHFG’s subsidiaries and the MHFG Group’s directors, executive officers, and their associates during the fiscal years ended March 31, 2014, 2015 and 2016. The outstanding amounts of these transactions, which were made in the ordinary course of business with substantially the same terms as those for comparable transactions with unrelated parties, were not considered significant. Transactions with other related parties A number of transactions were entered into with other related parties, such as MHFG’s employees and affiliates accounted for under the equity method. These transactions included loans, deposits, and other banking services. They were not significant in amount and were conducted with substantially the same terms as those for comparable transactions with unrelated parties. |
Business segment information
Business segment information | 12 Months Ended |
Mar. 31, 2016 | |
Business segment information | 31. Business segment information Under U.S. GAAP, companies report segment information based on the way management disaggregates the company for making operating decisions. The MHFG Group’s operating segments are based on the nature of the products and services provided, the type of customer and the Group’s management organization. The business segment information set forth below is derived from the internal management reporting systems used by management to measure the performance of the Group’s business segments. Management measures the performance of each of the operating segments primarily in terms of “net business profits” in accordance with internal managerial accounting rules and practices. Net business profits is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (or the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income) less general and administrative expenses. Measurement of net business profits is required for regulatory reporting to the Financial Services Agency. Therefore, the format and information are presented primarily on the basis of Japanese GAAP and are not consistent with the consolidated financial statements prepared in accordance with U.S. GAAP. A reconciliation is provided for the total amount of segments’ net business profits with Income before income tax expense under U.S. GAAP. The MHFG Group engages in banking, trust banking, securities, and other businesses through its subsidiaries and affiliates. As these subsidiaries and affiliates operate in different industries and regulatory environments, MHFG discloses business segment information based on the relevant principal consolidated subsidiaries such as MHBK (the former MHBK and the former MHCB), MHTB, and MHSC for investors to measure the present and future cash flows properly. The operating segments of MHBK are aggregated based on the type of customer characteristics into the following seven reportable segments: Personal Banking; Retail Banking; Corporate Banking (Large Corporations); Corporate Banking; Financial Institutions & Public Sector Business; International Banking; and Trading and others. MHTB and MHSC also constitute reportable segments respectively. MHBK Personal Banking This segment provides financial products and services, such as housing loans, deposits, investment trusts, and individual insurance to individual customers through MHBK’s nationwide branches and ATM network as well as telephone and internet banking services. In addition, this segment handles trust products as an agent of MHTB. Retail Banking This segment provides financial products and services, such as comprehensive consulting services of business succession and asset inheritance and asset management for business owners and high-net-worth customers. This segment also provides overall banking services for SMEs. Corporate Banking (Large Corporations) This segment provides a full range of financial solutions on a global basis to large Japanese corporations and their affiliates by integrating the Group’s specialty functions including banking, trust, and securities, based on solid relationships with MHBK’s domestic customers, and by utilizing its global industry knowledge. Corporate Banking This segment provides, to larger SMEs, financial products and services, including a range of solution businesses in accordance with the growth strategy of MHBK’s corporate customers. This segment provides solutions to customers’ financial needs such as stable fund-raising, mergers and acquisitions, management buy-out, business succession, entry into new business, and business restructuring for customers in mature or transition stages. Financial Institutions & Public Sector Business This segment provides advisory services and solutions such as advice on financial strategy and risk management to financial institutions and provides comprehensive financial products and services that include funding support via the subscription and underwriting of bonds etc., to public sector entities. International Banking This segment provides unified support both in Japan and overseas for MHBK’s Japanese corporate customers to expand their overseas operations, and also promotes business with non-Japanese corporate customers in various countries through its global network. Further, this segment offers products such as project finance and trade finance for overseas customers. Trading and others This segment provides derivatives and other risk hedging products to satisfy MHBK’s customers’ financial and business risk control requirements. It is also engaged in MHBK’s proprietary trading, such as foreign exchange and bond trading, and asset and liability management. This segment also includes costs incurred by the head office functions of MHBK. MHTB MHTB provides products and services related to trust, real estate, securitization and structured finance, pension and asset management, and stock transfers. MHSC MHSC provides full-line securities services to corporations, financial institutions, public sector entities, and individuals. Others This segment consists of MHFG, its subsidiaries other than MHBK, MHTB, and MHSC, and its equity-method affiliates. They provide a wide range of customers with their various products and services such as those related to trust and custody, asset management, and private banking through companies such as TCSB, Mizuho Asset Management Co., Ltd., DIAM Co., Ltd. (an equity-method affiliate), and Mizuho Private Wealth Management Co., Ltd. This segment also provides non-banking services, including research and consulting services through Mizuho Research Institute Ltd. and information technology-related services through Mizuho Information & Research Institute, Inc. The information below for reportable segments is derived from the internal management reporting systems. Management does not use information on segments’ assets to allocate resources and assess performance and has not prepared information on segments’ assets. Accordingly, information on segments’ assets is not available. 2014 (1)(2) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 933.8 800.1 164.6 60.4 170.7 77.3 30.7 128.9 167.5 133.7 40.2 2.9 131.4 1,108.3 Net noninterest income (expenses) 407.4 398.2 31.6 38.0 135.4 55.8 21.7 139.8 (24.1 ) 9.2 108.1 283.9 127.6 927.0 Total 1,341.2 1,198.3 196.2 98.4 306.1 133.1 52.4 268.7 143.4 142.9 148.3 286.8 259.0 2,035.3 General and administrative Expenses 711.3 659.0 171.3 87.8 83.8 58.8 25.1 82.5 149.7 52.3 90.9 246.2 180.9 1,229.3 Others (56.1 ) — — — — — — — — (56.1 ) (2.9 ) — (2.7 ) (61.7 ) Net business profits (losses) 573.8 539.3 24.9 10.6 222.3 74.3 27.3 186.2 (6.3 ) 34.5 54.5 40.6 75.4 744.3 2015 (1)(3) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 1,087.3 934.9 213.4 77.6 179.5 99.6 33.3 147.1 184.4 152.4 39.4 1.8 0.9 1,129.4 Net noninterest income 598.4 560.6 48.7 53.7 128.0 79.8 27.4 164.9 58.1 37.8 122.6 335.8 61.5 1,118.3 Total 1,685.7 1,495.5 262.1 131.3 307.5 179.4 60.7 312.0 242.5 190.2 162.0 337.6 62.4 2,247.7 General and administrative Expenses 904.7 833.7 233.5 118.4 94.4 76.5 30.3 92.6 188.0 71.0 94.5 268.0 54.0 1,321.2 Others (43.2 ) — — — — — — — — (43.2 ) (3.7 ) — (2.7 ) (49.6 ) Net business profits 737.8 661.8 28.6 12.9 213.1 102.9 30.4 219.4 54.5 76.0 63.8 69.6 5.7 876.9 2016 (1) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG (Consolidated) MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 959.4 830.1 214.8 75.7 173.0 97.5 32.5 175.5 61.1 129.3 36.1 5.4 2.8 1,003.7 Net noninterest income 675.3 633.7 45.0 53.1 143.7 77.5 31.8 185.1 97.5 41.6 130.7 343.8 68.1 1,217.9 Total 1,634.7 1,463.8 259.8 128.8 316.7 175.0 64.3 360.6 158.6 170.9 166.8 349.2 70.9 2,221.6 General and administrative Expenses 903.3 833.3 234.4 118.6 91.9 75.2 29.8 122.1 161.3 70.0 99.1 279.3 63.3 1,345.0 Others (22.1 ) — — — — — — — — (22.1 ) (4.2 ) — 2.5 (23.8 ) Net business profits (losses) 709.3 630.5 25.4 10.2 224.8 99.8 34.5 238.5 (2.7 ) 78.8 63.5 69.9 10.1 852.8 Notes: (1) “Others (h)” and “Others (k)” include the elimination of transactions between consolidated subsidiaries. (2) As for the fiscal year ended March 31, 2014, “MHBK (Non-consolidated)” represents the sum of the performance of the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters, while “Others (h)” includes the performance of the former MHBK for the first quarter, in light of the merger of the former MHBK and the former MHCB conducted in July 2013. (3) Beginning on April 1, 2015, new allocation methods have been applied to the calculation of “Gross profits” and “General and administrative expenses” for reportable segments of MHBK. Figures for the fiscal year ended March 31, 2015 have been reclassified under the new allocation methods. Aggregation of MHBK and MHCB 2014 MHBK and MHCB Total Personal Retail Corporate (Large Corporate Financial & Public (e) International (f) Trading (in billions of yen) Gross profits: Net interest income 923.8 218.0 80.7 173.3 102.5 35.5 128.9 184.9 Net noninterest income (expenses) 460.3 39.8 49.8 140.4 70.1 24.1 139.8 (3.7 ) Total 1,384.1 257.8 130.5 313.7 172.6 59.6 268.7 181.2 General and administrative expenses 791.1 226.4 116.7 87.2 77.7 29.0 82.5 171.6 Others — — — — — — — — Net business profits 593.0 31.4 13.8 226.5 94.9 30.6 186.2 9.6 Note: The former MHBK and the former MHCB merged on July 1, 2013. Figures for the fiscal year ended March 31, 2014 represent the simple aggregation of the performance of the former MHBK and the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters. Reconciliation As explained above, the measurement bases of the internal management reporting systems and the income and expenses items included are different from the accompanying consolidated statements of income. Therefore, it is impracticable to present reconciliations of all the business segments’ information, other than net business profits, to the corresponding items in the accompanying consolidated statements of income. A reconciliation of total net business profits under the internal management reporting systems for the fiscal years ended March 31, 2014, 2015 and 2016 presented above to Income before income tax expense shown on the consolidated statements of income is as follows: 2014 2015 2016 (in billions of yen) Net business profits 744.3 876.9 852.8 U.S. GAAP adjustments (325.4 ) 230.8 201.3 (Provision) credit for loan losses 126.2 60.2 (34.6 ) Net gains (losses) related to equity investments 178.7 160.1 188.4 Non-recurring personnel expense (14.8 ) (8.0 ) (3.9 ) Gains on disposal of premises and equipment 10.5 2.8 10.2 (Provision) credit for losses on off-balance-sheet instruments (12.1 ) 2.8 16.4 Others—net 18.9 (57.9 ) (34.0 ) Income before income tax expense 726.3 1,267.7 1,196.6 |
Foreign activities
Foreign activities | 12 Months Ended |
Mar. 31, 2016 | |
Foreign activities | 32. Foreign activities The following table presents consolidated income statement and total assets information by major geographic area. Foreign activities are defined as business transactions that involve customers residing outside of Japan. However, as the MHFG Group’s operations are highly integrated globally, estimates and assumptions have been made for an allocation among the geographic areas. Americas Japan United Others Europe Asia/Oceania and others Total (in billions of yen) Fiscal year ended March 31, 2014: Total revenue (1) 1,783.9 273.8 76.1 152.9 218.9 2,505.6 Total expenses (2) 1,397.3 129.1 15.5 96.3 141.1 1,779.3 Income before income tax expense 386.6 144.7 60.6 56.6 77.8 726.3 Net income 198.9 129.9 59.8 54.0 57.6 500.2 Total assets at end of fiscal year 124,557.7 24,014.8 3,513.0 10,784.5 12,829.3 175,699.3 Fiscal year ended March 31, 2015: Total revenue (1) 2,396.9 324.1 102.4 211.8 223.7 3,258.9 Total expenses (2) 1,459.9 210.8 24.3 133.8 162.4 1,991.2 Income before income tax expense 937.0 113.3 78.1 78.0 61.3 1,267.7 Net income 565.6 79.7 76.2 74.3 34.4 830.2 Total assets at end of fiscal year 127,473.5 31,074.9 4,871.0 10,880.6 15,819.7 190,119.7 Fiscal year ended March 31, 2016: Total revenue (1) 2,288.5 434.4 45.7 187.5 428.0 3,384.1 Total expenses (2) 1,534.2 282.6 28.7 126.2 215.8 2,187.5 Income before income tax expense 754.3 151.8 17.0 61.3 212.2 1,196.6 Net income 464.7 136.9 15.4 51.1 182.0 850.1 Total assets at end of fiscal year 133,162.4 28,985.3 4,227.5 11,616.9 15,823.4 193,815.5 Notes: (1) Total revenue is comprised of Interest and dividend income and Noninterest income. (2) Total expenses are comprised of Interest expense, Provision (credit) for loan losses and Noninterest expenses. |
Mizuho Financial Group, Inc., p
Mizuho Financial Group, Inc., parent company | 12 Months Ended |
Mar. 31, 2016 | |
Mizuho Financial Group, Inc., parent company | 33. Mizuho Financial Group, Inc., parent company The following tables present the parent company only financial information of MHFG: Condensed balance sheets 2015 2016 (in millions of yen) Assets: Cash and due from banks 223 137 Interest-bearing deposits in other banks 12,506 16,305 Investments in subsidiaries and affiliated companies 8,857,561 8,840,003 Other 566,947 1,025,108 Total 9,437,237 9,881,553 Liabilities and shareholders’ equity: Short-term borrowings 1,200,135 1,186,345 Long-term debt 248,800 584,518 Other liabilities 57,964 96,139 Shareholders’ equity 7,930,338 8,014,551 Total 9,437,237 9,881,553 Condensed statements of income 2014 2015 2016 (in millions of yen) Income: Dividends from subsidiaries and affiliated companies: Banking subsidiaries 282,022 316,035 272,070 Non-banking subsidiaries and affiliated companies 3,108 28,633 20,814 Management fees from subsidiaries 31,146 32,163 39,267 Other income 33,894 38,107 11,485 Total 350,170 414,938 343,636 Expenses: Operating expenses 22,592 26,855 31,063 Interest expense 14,608 8,937 11,914 Other expense 5,724 2,693 9,203 Total 42,924 38,485 52,180 Equity in undistributed net income of subsidiaries 191,865 427,037 559,553 Income before income tax expense 499,111 803,490 851,009 Income tax expense 627 442 517 Net income 498,484 803,048 850,492 Note: Certain income for the fiscal year ended March 31, 2014 has been reclassified to conform to the current year’s presentation. Condensed statements of cash flows 2014 2015 2016 (in millions of yen) Cash flows from operating activities: Net income 498,484 803,048 850,492 Adjustments and other (222,940 ) (460,230 ) (546,946 ) Net cash provided by operating activities 275,544 342,818 303,546 Cash flows from investing activities: Net change in loans — (150,000 ) (479,948 ) Purchases of premises and equipment (4,052 ) (159,670 ) (165 ) Net change in other investing activities 6,683 3,294 (377 ) Net cash provided by (used in) investing activities 2,631 (306,376 ) (480,490 ) Cash flows from financing activities: Net change in short-term borrowings (90,000 ) 130,000 (10,000 ) Proceeds from issuance of long-term debt — 150,000 479,948 Repayment of long-term debt — (141,200 ) (98,800 ) Proceeds from issuance of common stock — 6 5 Purchases of treasury stock (37,013 ) (12 ) (13 ) Dividends paid (152,163 ) (176,186 ) (195,283 ) Net change in other financing activities 968 1,006 1,001 Net cash provided by (used in) financing activities (278,208 ) (36,386 ) 176,858 Net increase (decrease) in cash and due from banks (33 ) 56 (86 ) Cash and due from banks at beginning of fiscal year 200 167 223 Cash and due from banks at end of fiscal year 167 223 137 |
Subsequent events
Subsequent events | 12 Months Ended |
Mar. 31, 2016 | |
Subsequent events | 34. Subsequent events Redemption of preferred securities On June 30, 2016, preferred securities, issued by the MHFG Group’s overseas special purpose companies, were redeemed in full. These special purpose companies are not consolidated in accordance with ASC 810 since the Group is not the primary beneficiary. Thus, the redemption of preferred securities did not reduce Noncontrolling interests in consolidated subsidiaries, but reduced Long-term debt in the Group’s consolidated balance sheets. The following table describes the details of the redeemed preferred securities: Issuer Aggregate Reason for the redemption (in millions) Mizuho Capital Investment (USD) 1 Limited $600 Arrival of optional redemption date Mizuho Capital Investment (JPY) 1 Limited ¥ 400,000 Arrival of optional redemption date Signing of integration agreement among asset management companies DIAM Co., Ltd. (“DIAM”), MHTB, Mizuho Asset Management Co., Ltd. (“MHAM”) and Shinko Asset Management Co., Ltd. (“Shinko Asset Management”) (collectively, the “Integrating Companies”) have been proceeding with discussions and preparations for the integration of their asset management functions (the “Integration”) pursuant to the memorandum of understanding on the integration dated September 30, 2015. On July 13, 2016, the Integrating Companies entered into an integration agreement, after obtaining approval by resolutions adopted by their respective boards of directors. The Integration will become effective subject to approval by the relevant authorities. 1. Effective date of the Integration (planned) October 1, 2016 2. Method of the Integration The Integration will be implemented through the following steps: (i) a merger between MHAM as surviving company and Shinko Asset Management as absorbed company; (ii) a company split between MHTB and MHAM (after the merger in (i) above) as successor company whereby rights and obligations attributed to Asset Management Division of MHTB will be transferred to MHAM; and (iii) a merger between DIAM as surviving company and MHAM as absorbed company. 3. Company name Asset Management One Co., Ltd. (“New Company”) 4. Shareholding ratio based on economic interests and voting rights to the New Company Shareholding ratio based on economic interests 70% Shareholding ratio based on voting rights 51% 5. Main purpose of the Integration Based on the strong commitment of MHFG and The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) to strengthen and develop their respective asset management businesses, the New Company will aim to achieve significant development as a global asset management company, providing its customers with solutions of the highest standards by combining the asset management-related knowledge and experience accumulated and developed by each Integrating Company over many years, and taking full advantage of collaboration with both the MHFG Group and the Dai-ichi Life group. In order to establish a highly independent and transparent management framework, the New Company’s independent outside directors (Audit & Supervisory Committee members) will include professionals with a high level of expertise in the areas of asset management, legal affairs and accounting. In addition, the New Company will fulfill its fiduciary duties as a professional asset management firm and provide services and products that truly benefit its customers. Through these efforts, the New Company aims to become the most trusted and valued asset management company—meeting the needs of pension funds and corporate customers in terms of diversification and sophistication of their investments, as well as encouraging a shift “from saving to investment” in Japan through providing individual customers with high-quality products and services. |
Basis of presentation and sum42
Basis of presentation and summary of significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Basis of presentation | Basis of presentation Mizuho Financial Group, Inc. (“MHFG”) is a joint stock corporation with limited liability under the laws of Japan. MHFG, through its subsidiaries (“the MHFG Group”, or “the Group”), provides domestic and international financial services in Japan and other countries. MHFG’s subsidiaries are segmented on the basis of the nature of the financial products and services. Mizuho Bank, Ltd. (“MHBK”) is a banking subsidiary and offers a wide range of financial products and services mainly in relation to deposits, lending and exchange settlement to individuals, small and medium enterprises (“SMEs”), large corporations, financial institutions, public sector entities and foreign corporations, including foreign subsidiaries of Japanese corporations. Mizuho Trust & Banking Co., Ltd. (“MHTB”) is a trust bank subsidiary and offers mainly trust-related products and consulting services. Mizuho Securities Co., Ltd. (“MHSC”) is a securities and investment banking subsidiary and offers full-line securities services to corporations, financial institutions, public sector entities and individuals. Other major subsidiaries include Trust & Custody Services Bank, Ltd. (“TCSB”), Mizuho Capital Co., Ltd., and Mizuho Asset Management Co., Ltd. See Note 31 “Business segment information” for further discussion of the Group’s segment information. The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are stated in Japanese yen, the currency of the country in which MHFG is incorporated and principally operates. The accompanying consolidated financial statements include the accounts of MHFG and its subsidiaries. MHFG’s fiscal year ends on March 31 and fiscal year of certain subsidiaries ends on December 31. The necessary adjustments have been made to the consolidated financial statements if significant transactions took place during the three-month period. When determining whether to consolidate investee entities, the MHFG Group performed a careful analysis of the facts and circumstances of the particular relationships between the MHFG Group and the investee entities as well as the ownership of voting shares. The consolidated financial statements also include the accounts of the VIEs for which MHFG or its subsidiaries have been determined to be the primary beneficiary in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”). All significant intercompany transactions and balances have been eliminated upon consolidation. The MHFG Group accounts for investments in entities over which it has significant influence by using the equity method of accounting. These investments are included in Other investments and the Group’s proportionate share of income or loss is included in Equity in earnings (losses) of equity method investees—net. |
Use of estimates | Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and related disclosures. Specific areas, among others, requiring the application of management’s estimates and judgment include assumptions pertaining to the allowance for loan losses, allowance for losses on off-balance-sheet instruments, deferred tax assets, derivative financial instruments, investments and pension and other employee benefits. Actual results could differ from estimates and assumptions made. |
Definition of cash and due from banks | Definition of cash and due from banks For purposes of the consolidated statements of cash flows, Cash and due from banks includes cash on hand, cash items in the process of collection and noninterest-bearing deposits with banks. |
Translation of foreign currency financial statements and foreign currency transactions | Translation of foreign currency financial statements and foreign currency transactions Financial statements of overseas entities are prepared using the functional currency of each entity and translated into Japanese yen for consolidation purposes. Assets and liabilities are translated using the fiscal-year-end exchange rate of each functional currency, and income and expense are translated using the average rate of each functional currency for the period. Foreign currency translation gains and losses related to the financial statements of overseas entities of the MHFG Group, net of related income tax effects, are credited or charged directly to Foreign currency translation adjustments, a component of Accumulated other comprehensive income, net of tax (“AOCI”). The tax effects of gains and losses related to the foreign currency translation of financial statements of overseas entities are not recognized unless it is apparent that the temporary differences will reverse in the foreseeable future. Assets and liabilities denominated in foreign currencies are translated into Japanese yen at the fiscal-year-end foreign exchange rates, and gains and losses resulting from such translation are included in Foreign exchange gains (losses)—net. Foreign currency denominated income and expenses are translated using the average exchange rates for the period |
Call loans and call money | Call loans and call money Call loans and call money represent lending/borrowing, primarily through the Japanese short-term money market, to/from other financial institutions such as banks, insurance companies, and securities brokerage houses. |
Repurchase and resale agreements, securities lending and borrowing and other secured financing transactions | Repurchase and resale agreements, securities lending and borrowing and other secured financing transactions Securities sold under agreements to repurchase (“repurchase agreements”), securities purchased under agreements to resell (“resale agreements”) and securities lending and borrowing transactions are accounted for as secured financing or lending transactions when control over the underlying securities is not deemed to be surrendered by the transferor. Otherwise, they are recorded as sales of securities with related forward repurchase commitments or purchases of securities with related forward resale commitments in accordance with ASC 860, “Transfers and Servicing” (“ASC 860”). Under resale agreements, securities borrowing and certain derivatives transactions, the MHFG Group receives collateral in the form of securities. In many cases, the MHFG Group is permitted to sell or repledge the securities obtained as collateral. Disclosures in respect of such collateral are presented in Note 8 “Pledged assets and collateral”. With respect to repurchase agreements, securities lending, and certain derivative transactions, counterparties may have the right to sell or repledge securities that the MHFG Group has pledged as collateral. The MHFG Group separately discloses these pledged securities in the consolidated balance sheets. The MHFG Group monitors credit exposure arising from resale agreements, repurchase agreements, securities borrowing and securities lending transactions on a daily basis, and additional collateral is obtained from or returned to counterparties, as appropriate. |
Trading securities and trading securities sold, not yet purchased | Trading securities and trading securities sold, not yet purchased Trading securities consist of securities and money market instruments that are bought and held principally for the purpose of reselling in the near term with the objective of generating profits on short-term fluctuations in price. Trading securities sold, not yet purchased, are securities and money market instruments sold to third parties that the MHFG Group does not own and is obligated to purchase at a later date to cover the short position. Trading securities and trading securities sold, not yet purchased, are recorded on the trade date. Trading securities and trading securities sold, not yet purchased, are recorded at fair value in the consolidated balance sheets in Trading account assets and Trading account liabilities with realized and unrealized gains and losses recorded on a trade date basis in Trading account gains (losses)—net in the consolidated statements of income. Interest and dividends on trading securities, including securities sold, not yet purchased, are recorded in Interest and dividend income or Interest expense on an accrual basis. |
Investments | Investments Debt securities that the MHFG Group has both the positive intent and ability to hold to maturity are classified as Held-to-maturity securities and carried at amortized cost. Debt securities that the MHFG Group may not hold to maturity and any marketable equity securities, other than those classified as trading securities, are classified as Available-for-sale securities, and are carried at fair value, with unrealized gains and losses reported in AOCI. The credit component of an other-than-temporary impairment of a debt security is reported in Investment gains (losses)—net, and the noncredit component is reported in Other comprehensive income (loss). See Note 3 “Investments” for further discussion of impairment. Interest and dividends, as well as amortization of premiums and accretion of discounts, are reported in Interest and dividend income. Amortization of premiums and accretion of discounts on debt securities are recognized over their remaining maturities under the interest method. Gains and losses on disposition of investments are computed using the first-in first-out method for debt securities and the average method for equity securities, and are recorded on the trade date. Other investments include marketable and non-marketable equity securities accounted for using the equity method, marketable and non-marketable investments held by consolidated investment companies carried at fair value under specialized industry accounting principles for investment companies, and other non-marketable equity securities carried at cost, less other-than-temporary impairment, if any. |
Derivative financial instruments | Derivative financial instruments Derivative financial instruments are bought and held principally for the purpose of market making for customers, proprietary trading in order to generate trading revenues and fee income, and also to manage the MHFG Group’s exposure to interest rate, credit and market risks related to asset and liability management. Such derivative financial instruments include interest rate, foreign currency, equity, commodity and credit default swap agreements, options, caps and floors, and financial futures and forward contracts. Derivatives bought and held for trading purposes are recorded in the consolidated balance sheets at fair value in Trading account assets and Trading account liabilities. The fair values of derivatives in a gain position and a loss position are reported as Trading account assets and Trading account liabilities, respectively. Derivatives used for asset and liability management include contracts that qualify for hedge accounting under ASC 815, “Derivatives and Hedging” (“ASC 815”). To be eligible for hedge accounting, derivative instruments must be highly effective in achieving offsetting changes in fair values or variable cash flows of the hedged items attributable to the particular risk being hedged. All qualifying hedging derivatives are valued at fair value and included in Trading account assets or Trading account liabilities. Derivatives that do not qualify for hedge accounting under ASC 815 are treated as trading positions and are accounted for as such. The fair value amounts recognized for all derivatives are not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under the master netting agreement with the same counterparty. The fair values of derivative financial instruments are determined based on quoted market prices or broker-dealer quotes, if available. If not available, the fair values are estimated using quoted market prices for similar instruments, option or binomial pricing models or a present value cash flow analysis, utilizing current observable market information, where available. In determining the fair values, the Group considers various factors such as exchange or over-the-counter market quotes, time value of money and volatility factors for options and warrants, observed prices for similar or synthetic instruments, and counterparty credit quality including potential exposure. Changes in the fair values of all derivatives are recorded in earnings, except for derivatives qualifying as net investment hedges under ASC 815 which are recorded in AOCI. The changes in the fair values of all derivatives relating to foreign currency exchange rates are included in Foreign exchange gains (losses)—net and Trading account gains (losses)—net. Other elements of the changes in the fair values, including interest rate, equity and credit related components except that of certain credit derivatives hedging the credit risk in the corporate loan portfolio, are recognized in Trading account gains (losses)—net. The net gain (loss) resulting from changes in the fair values of certain credit derivatives where the Group purchases protection to mitigate its credit risk exposure related to its corporate loan portfolio is recorded in Other noninterest income (expenses). Certain financial and hybrid instruments often contain embedded derivative instruments that possess implicit or explicit contract terms similar to those of a derivative instrument. Such derivative instruments are required to be fair-valued separately from the host contracts if they meet the bifurcation criteria of an embedded derivative. Such criteria include that the entire instrument is not marked to market through earnings, the economic characteristics and risks of the embedded contract terms are not clearly and closely related to those of the host contract and the embedded contract terms would meet the definition of a derivative on a stand-alone basis. |
Loans | Loans Loans are generally carried at the principal amount adjusted for unearned income and deferred net nonrefundable loan fees and costs. Loan origination fees, net of certain direct origination costs are deferred and recognized over the contractual life of the loan as an adjustment of yield using a method that approximates the interest method. Interest income on performing loans is accrued and credited to income as it is earned. Unearned income and discounts or premiums on purchased loans are deferred and recognized over the life of the loan using a method that approximates the interest method. Loans are considered impaired when, based on current information and events, it is probable that the MHFG Group will be unable to collect all the scheduled payments of principal and interest when due according to the contractual terms of the loans. Factors considered by management in determining if a loan is impaired include delinquency status and the ability of the debtor to make payment of the principal and interest when due. Impaired loans include loans past due for 90 days or more and restructured loans that meet the definition of a troubled debt restructuring (“TDR”) in accordance with ASC 310, “Receivables” (“ASC 310”). All of the MHFG Group’s impaired loans are designated as nonaccrual loans and thus interest accruals and the amortization of net origination fees are suspended and capitalized interest is written off. Cash received on nonaccrual loans is accounted for as a reduction of the loan principal if the ultimate collectibility of the principal amount is uncertain, otherwise, as interest income. Loans are not restored to accrual status until interest and principal payments are current and future payments are reasonably assured. Impaired loans are restored to non-impaired loans and accrual status, when the MHFG Group determines that the borrower poses no concerns regarding current certainty of debt fulfillment. In general, such determination is made if the borrower qualifies for an obligor rating of E2 or above and is not classified as a special attention obligor. With respect to loans restructured in a TDR, in general, such loans are restored to non-impaired loans, and accrual status, when the borrower qualifies for an obligor rating of D or above. See Note 4 “Loans” for the definitions of obligor ratings. Loans that have been identified for sale are classified as loans held for sale within Other assets and are accounted for at the lower of cost or fair value on an individual loan basis. If management decides to retain certain loans held for sale for the foreseeable future or until maturity or payoff, such items are transferred to Loans at the lower of cost or fair value. |
Allowance and provision (credit) for loan losses | Allowance and provision (credit) for loan losses The MHFG Group maintains an appropriate allowance for loan losses to absorb probable losses inherent in the loan portfolio and makes adjustments to such allowance through Provision (credit) for loan losses in the consolidated statements of income. Loan principal that management judges to be uncollectible, based on detailed loan reviews and a credit quality assessment, is charged off against the allowance for loan losses. In general, the MHFG Group charges off loans when the Group determines that the obligor should be classified as substantially bankrupt or bankrupt. See Note 4 “Loans” for the definitions of obligor categories. Obligors in the retail portfolio segment are generally determined to be substantially bankrupt when they are past due for more than six months, and as for other obligors, the Group separately monitors the credit quality of each obligor without using time-based triggers. Subsequent recoveries of previously charged-off loan balances are recorded as an increase to the allowance for loan losses as the recoveries are received. The credit quality review process and the credit rating process serve as the basis for determining the allowance for loan losses. Through such processes loans are categorized into groups to reflect the probability of default, whereby the MHFG Group’s management assesses the ability of borrowers to service their debt, taking into consideration current financial information, ability to generate cash, historical payment experience, analysis of relevant industry segments and current trends. In determining the appropriate level of the allowance, the MHFG Group evaluates the probable loss by category of loan based on its risk type and characteristics. The allowance for loan losses is determined in accordance with ASC 310 and ASC 450, “Contingencies” (“ASC 450”). The MHFG Group measures the impairment of a loan when it is probable that the Group will be unable to collect all amounts due according to the contractual terms of the loan agreement, based on (1) the present value of expected future cash flows, after considering the restructuring effect and subsequent payment default with respect to TDRs, discounted at the loan’s initial effective interest rate, or (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. The collateral that the Group obtains for loans consists primarily of real estate or listed securities. In obtaining the collateral, the Group evaluates the fair value of the collateral and its legal enforceability. The Group also performs subsequent re-evaluations at least once a year. As it pertains to real estate collateral, valuation is generally performed by an appraising subsidiary which is independent from the Group’s loan origination departments by using generally accepted valuation techniques such as (1) the replacement cost approach, or (2) the sales comparison approach or (3) the income approach. In the case of large real estate collateral, the Group generally engages third-party appraisers to perform the valuation. As it pertains to listed securities collateral, observable market prices are used for valuation. The formula allowance is applied to groups of small balance, homogeneous loans that are collectively evaluated for impairment and to non-homogeneous loans that have not been identified as impaired. The evaluation of the inherent loss in respect of these loans involves a high degree of uncertainty, subjectivity and judgment because probable loan losses are not easily identifiable or measurable. In determining the formula allowance, the MHFG Group therefore relies on a statistical analysis that incorporates loss rates based on its own historical loss experience and third-party data such as the number of corporate default cases which is updated once a year. In determining the allowance amount, the Group analyzes (1) the probability of default: (a) by using the most recently available data since April 2008 for the fiscal years ended March 31, 2014, 2015 and 2016 for the corporate portfolio segment, which resulted in using the data for the past six, seven and eight years, respectively, and the most recently available data for the past six years for the retail portfolio segment, respectively, in the case of normal obligors; and (b) by using the most recently available data since April 2002, in the case of watch obligors; and (2) the loss given default by using the most recently available data for the past six years. As it pertains to TDR loans in the retail portfolio segment, which are subject to collective evaluation for impairment, the restructuring itself, as well as subsequent payment defaults, if any, are considered in determining obligor ratings. The historical loss rate is adjusted, where appropriate, to reflect current factors, such as general economic and business conditions affecting the key lending areas of the MHFG Group, credit quality trends, specific industry conditions within portfolio segments, and recent loss experience in particular segments of the portfolio. When determining the length of the period to calculate the probability of default, the Group considers the uncertainty in the economic and business conditions. The estimation of the formula allowance is back-tested on a periodic basis by comparing the allowance with the actual results subsequent to the balance sheet date. |
Allowance and provision (credit) for losses on off-balance-sheet instruments | Allowance and provision (credit) for losses on off-balance-sheet instruments The MHFG Group maintains an allowance for losses on off-balance-sheet credit instruments, such as guarantees, standby letters of credit, commitments to invest in securities and commitments to extend credit, in the same manner as the allowance for loan losses. The allowance is recorded in Other liabilities. Net changes in the allowance for losses on off-balance-sheet instruments are accounted for in Provision (credit) for losses on off-balance-sheet instruments in the consolidated statements of income. |
Premises and equipment | Premises and equipment Premises and equipment are stated at historical cost, and depreciation and amortization are recorded over the estimated useful lives of the assets, except for leasehold improvements, which are amortized over the shorter of the estimated useful lives of the assets or the lease term. Depreciation and amortization are principally computed in accordance with the straight-line method with respect to buildings and leasehold improvements and in accordance with the declining-balance method with respect to other premises and equipment. The useful lives of premises and equipment are as follows: Years Buildings 3 to 50 Equipment and furniture 2 to 20 Leasehold improvements 3 to 50 Regular repairs and maintenance costs that do not extend the estimated useful life of an asset are charged to expense as incurred. Upon sale or disposition of premises and equipment, the cost and related accumulated depreciation or amortization are removed from the accounts, and any gains or losses on disposal are included in Gains on disposal of premises and equipment or Occupancy expenses. |
Impairment of long-lived assets | Impairment of long-lived assets The MHFG Group’s long-lived assets that are held for use are reviewed periodically for events or changes in circumstances that indicate possible impairment. The Group’s impairment review is based on an undiscounted cash flow analysis of a group of assets, combined with associated liabilities, at the lowest level for which identifiable cash flows exist. Impairment occurs when the carrying value of the asset group exceeds the future undiscounted cash flows that the asset group is expected to generate. When impairment is identified, the future cash flows are then discounted to determine the estimated fair value of the asset group and an impairment charge is recorded for the difference between the carrying value and the estimated fair value of the asset group. The long-lived assets to be disposed of by sale are carried at the lower of the carrying amount or fair value, less estimated cost to sell. |
Software | Software Internal and external costs incurred in connection with developing and obtaining software for internal use during the application development stage are capitalized. Such costs include salaries and benefits for employees directly involved with and who devote time to the project, to the extent such time is incurred directly on the internal use software project. The capitalization of software ceases when the software project has been substantially completed. The capitalized software is amortized on a straight-line basis over the estimated useful life, generally 5 to 10 years. Internal use software is reviewed for impairment when triggering events occur. |
Goodwill | Goodwill Goodwill represents the excess of the total fair value of the acquired company, which consists of the consideration transferred, the fair value of any interest in the acquiree already held by the acquirer and the fair value of any noncontrolling interest in the acquiree over the fair value of net identifiable assets acquired at the date of acquisition in a business combination. The MHFG Group accounts for goodwill in accordance with ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”). Goodwill is recorded at a designated reporting unit level for the purpose of assessing impairment. An impairment loss is recorded to the extent the carrying amount of goodwill exceeds its estimated fair value. |
Intangible assets | Intangible assets Intangible assets having definite useful lives are amortized over their estimated useful lives on either a straight-line basis or the method that reflects the pattern in which the economic benefits of the intangible assets are consumed. Intangible assets acquired in connection with the merger of MHSC and Shinko Securities Co., Ltd. (“Shinko”) consist primarily of customer relationship intangibles, and are amortized over a weighted-average amortization period of 16 years. Intangible assets having indefinite useful lives are not amortized and are subject to impairment tests. An impairment loss is recorded to the extent that the carrying amount of the indefinite-lived intangible asset exceeds its estimated fair value. For intangible assets subject to amortization, an impairment loss is recorded if the carrying amount is not recoverable and exceeds its estimated fair value. |
Pension and other employee benefits | Pension and other employee benefits MHFG and certain subsidiaries sponsor severance indemnities and pension plans, which provide defined benefits to retired employees. Periodic expense and accrued liabilities are computed based on the actuarial present value of benefits, net of investment returns expected from plan assets and their fair values at the balance sheet date. Net periodic expense is charged to Salaries and employee benefits. Net actuarial gains and losses that arise from differences between actual experience and assumptions are generally amortized over the average remaining service period of participating employees if it exceeds the corridor, which is defined as the greater of 10% of plan assets or the projected benefit obligation. |
Stock-based compensation | Stock-based compensation The compensation cost associated with stock options is measured at fair value using the Black-Scholes option pricing model. In May, 2015, MHFG announced the discontinuance of the current stock option program along with the introduction of performance payments and performance-based stock compensation, see Note 21 “Stock-based compensation” for further details of the performance-based stock compensation. |
Long-term debt | Long-term debt Premiums, discounts and issuance costs of long-term debt are amortized based on a method that approximates the interest method over the respective terms of the long-term debt. |
Obligations under guarantees | Obligations under guarantees The MHFG Group provides customers with a variety of guarantees and similar arrangements, including standby letters of credit, financial and performance guarantees, credit protection, and liquidity facilities. The MHFG Group recognizes guarantee fee income over the guarantee period. The MHFG Group receives such a guarantee fee at the inception of the guarantee or in installments and, in either case, the present value of the total fees approximates the fair value of the guarantee. |
Fair Value Measurements | Fair Value Measurements The MHFG Group carries certain of its financial assets and liabilities at fair value on a recurring basis. These financial assets and liabilities are primarily composed of trading account assets, trading account liabilities and available-for-sale securities. In addition, the Group measures certain financial assets and liabilities, at fair value on a non-recurring basis. Those assets and liabilities primarily include items that are measured at the lower of cost or fair value such as loans held for sale, and items that were initially measured at cost and have been written down to fair value due to impairments, such as loans and other investments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820, “Fair Value Measurement” (“ASC 820”), the Group classifies its financial assets and liabilities into the fair value hierarchy (Level 1, 2, and 3). See Note 27 “Fair value” for the detailed definition of each level. When determining fair value, the MHFG Group considers the principal or most advantageous market in which the Group would transact and considers assumptions that market participants would use when pricing the asset or liability. The Group maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. See Note 27 “Fair value” for descriptions of valuation methodologies used for its assets and liabilities by product. |
Fee and commission income | Fee and commission income Fee revenue is recognized when all of the following criteria have been met: persuasive evidence of an agreement exists, services have been rendered, the price is fixed or determinable, and collectibility is reasonably assured. Fees in respect of securities-related business and fees on funds transfer and collection services are generally recognized as revenue when the related services are performed. Fees on credit-related business, excluding loan origination fees which are deferred and recognized over the loan period as a yield adjustment, are generally recognized either at one time when the service is rendered or over the related transaction period. Fee and commission income is presented on a gross basis and exclusive of consumption taxes. |
Income taxes | Income taxes Income taxes are accounted for in accordance with ASC 740, “Income Taxes” (“ASC 740”). Deferred income taxes reflect the net tax effects of (1) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax purposes, and (2) operating loss and tax credit carryforwards. A valuation allowance is recorded for any portion of the deferred tax assets unless it is more likely than not that the deferred tax assets will be realized. Deferred income tax benefit or expense is recognized for the changes in the net deferred tax asset or liability between periods. |
Earnings per common share | Earnings per common share Basic earnings per common share are computed by dividing net income attributable to MHFG common shareholders by the weighted average number of common shares outstanding during the fiscal year. Diluted earnings per common share reflect the possible exercise of all convertible securities, such as convertible preferred stock to the extent they are not anti-dilutive. See Note 18 “Earnings per common share” for the computation of basic and diluted earnings per common share. |
Basis of presentation and sum43
Basis of presentation and summary of significant accounting policies (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule Of Useful Lives For Property Plant Equipment | The useful lives of premises and equipment are as follows: Years Buildings 3 to 50 Equipment and furniture 2 to 20 Leasehold improvements 3 to 50 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Amortized Cost Gross Unrealized Gains and Losses and Fair Value of Investments Table | The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale and held-to-maturity securities at March 31, 2015 and 2016 are as follows: Amortized cost Gross unrealized Gross unrealized Fair value (in millions of yen) 2015 Available-for-sale securities: Debt securities: Japanese government bonds 17,391,144 25,110 2,587 17,413,667 Japanese local government bonds 234,421 4,183 16 238,588 U.S. Treasury bonds and federal agency securities 116,408 1,259 454 117,213 Other foreign government bonds 961,684 4,437 237 965,884 Agency mortgage-backed securities (1) 806,877 17,280 2,427 821,730 Residential mortgage-backed securities 260,456 4,426 1,408 263,474 Commercial mortgage-backed securities 169,342 889 961 169,270 Japanese corporate bonds and other debt securities (2) 1,930,054 13,366 1,496 1,941,924 Foreign corporate bonds and other debt securities (3) 730,910 12,026 1,133 741,803 Equity securities (marketable) 1,697,628 2,700,714 1,185 4,397,157 Total 24,298,924 2,783,690 11,904 27,070,710 Held-to-maturity securities: Debt securities: Japanese government bonds 4,360,126 29,001 173 4,388,954 Agency mortgage-backed securities (4) 1,287,215 2,259 621 1,288,853 Total 5,647,341 31,260 794 5,677,807 Amortized cost Gross unrealized Gross unrealized Fair value (in millions of yen) 2016 Available-for-sale securities: Debt securities: Japanese government bonds 15,672,171 91,420 1,015 15,762,576 Japanese local government bonds 234,587 6,097 3 240,681 U.S. Treasury bonds and federal agency securities 436,792 1,720 32 438,480 Other foreign government bonds 939,808 2,740 153 942,395 Agency mortgage-backed securities (1) 920,375 29,804 1,293 948,886 Residential mortgage-backed securities 206,882 4,254 878 210,258 Commercial mortgage-backed securities 186,525 788 523 186,790 Japanese corporate bonds and other debt securities (2) 2,079,599 15,688 420 2,094,867 Foreign corporate bonds and other debt securities (3) 839,981 8,744 1,421 847,304 Equity securities (marketable) 1,663,486 2,121,379 4,577 3,780,288 Total 23,180,206 2,282,634 10,315 25,452,525 Held-to-maturity securities: Debt securities: Japanese government bonds 3,760,032 56,620 — 3,816,652 Agency mortgage-backed securities (4) 1,058,929 3,894 6,266 1,056,557 Total 4,818,961 60,514 6,266 4,873,209 Notes: (1) Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥87,327 million and ¥734,403 million, respectively, at March 31, 2015, and ¥168,604 million and ¥780,282 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) Other debt securities presented in the above table primarily consist of certificates of deposit (“CDs”) and asset-backed securities (“ABS”), of which the total fair values were ¥165,602 million at March 31, 2015, and ¥158,446 million at March 31, 2016. (3) Other debt securities presented in the above table primarily consist of CDs, ABS, and collateralized loan obligations (“CLO”), of which the total fair values were ¥142,543 million at March 31, 2015, and ¥201,952 million at March 31, 2016. (4) All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. |
Investments Classified by Contractual Maturity Date | Securities not due at a single maturity date and securities embedded with call or prepayment options, such as mortgage-backed securities, are included in the table below based on their contractual maturities. Amortized cost Due in one Due after one Due after five Due after Total (in millions of yen) Available-for-sale securities: Debt securities: Japanese government bonds 2,431,841 11,699,544 1,540,786 — 15,672,171 Japanese local government bonds 20,033 95,266 118,603 685 234,587 U.S. Treasury bonds and federal agency securities 327,513 — 109,279 — 436,792 Other foreign government bonds 776,593 155,782 7,433 — 939,808 Agency mortgage-backed securities — — — 920,375 920,375 Residential mortgage-backed securities — — — 206,882 206,882 Commercial mortgage-backed securities 4,585 126,340 55,600 — 186,525 Japanese corporate bonds and other debt securities 378,794 1,213,539 344,576 142,690 2,079,599 Foreign corporate bonds and other debt securities 194,987 507,194 57,786 80,014 839,981 Total 4,134,346 13,797,665 2,234,063 1,350,646 21,516,720 Held-to-maturity securities: Debt securities: Japanese government bonds 700,001 2,580,182 479,849 — 3,760,032 Agency mortgage-backed securities — — — 1,058,929 1,058,929 Total 700,001 2,580,182 479,849 1,058,929 4,818,961 Fair value Due in Due after one Due after five Due after Total (in millions of yen) Available-for-sale securities: Debt securities: Japanese government bonds 2,433,342 11,757,721 1,571,513 — 15,762,576 Japanese local government bonds 20,051 96,515 123,289 826 240,681 U.S. Treasury bonds and federal agency securities 327,482 — 110,998 — 438,480 Other foreign government bonds 777,144 157,516 7,735 — 942,395 Agency mortgage-backed securities — — — 948,886 948,886 Residential mortgage-backed securities — — — 210,258 210,258 Commercial mortgage-backed securities 4,591 126,265 55,934 — 186,790 Japanese corporate bonds and other debt securities 379,118 1,220,385 348,967 146,397 2,094,867 Foreign corporate bonds and other debt securities 195,753 513,856 57,798 79,897 847,304 Total 4,137,481 13,872,258 2,276,234 1,386,264 21,672,237 Held-to-maturity securities: Debt securities: Japanese government bonds 701,875 2,604,949 509,828 — 3,816,652 Agency mortgage-backed securities — — — 1,056,557 1,056,557 Total 701,875 2,604,949 509,828 1,056,557 4,873,209 |
Other-Than-Temporary Impairment on Available-for-Sale Securities | The following table shows the other-than-temporary impairment on available-for-sale securities for the fiscal years ended March 31, 2014, 2015 and 2016. No impairment losses were recognized on held-to-maturity securities for the periods. 2014 2015 2016 (in millions of yen) Available-for-sale securities: Debt securities 1,151 450 4,020 Equity securities 4,193 618 34,041 Total 5,344 1,068 38,061 |
Unrealized Loss Position Investments | The following table shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity securities, aggregated by the length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015 and 2016: Less than 12 months 12 months or more Total Fair Gross Fair Gross Fair Gross (in millions of yen) 2015 Available-for-sale securities: Debt securities: Japanese government bonds 5,646,840 1,739 211,512 848 5,858,352 2,587 Japanese local government bonds 3,579 8 11,944 8 15,523 16 U.S. Treasury bonds and federal agency securities 45,858 454 — — 45,858 454 Other foreign government bonds 127,535 204 10,421 33 137,956 237 Agency mortgage-backed securities (1) 7,968 47 86,973 2,380 94,941 2,427 Residential mortgage-backed securities — — 51,897 1,408 51,897 1,408 Commercial mortgage-backed securities 23,468 394 19,238 567 42,706 961 Japanese corporate bonds and other debt securities 270,877 478 54,615 1,018 325,492 1,496 Foreign corporate bonds and other debt securities 11,496 29 60,491 1,104 71,987 1,133 Equity securities (marketable) 11,325 1,156 150 29 11,475 1,185 Total 6,148,946 4,509 507,241 7,395 6,656,187 11,904 Held-to-maturity securities: Debt securities: Japanese government bonds 99,738 173 — — 99,738 173 Agency mortgage-backed securities (2) 355,560 621 — — 355,560 621 Total 455,298 794 — — 455,298 794 2016 Available-for-sale securities: Debt securities: Japanese government bonds 1,531,400 692 74,427 323 1,605,827 1,015 Japanese local government bonds 3,434 3 — — 3,434 3 U.S. Treasury bonds and federal agency securities 315,425 32 — — 315,425 32 Other foreign government bonds 225,493 139 225 14 225,718 153 Agency mortgage-backed securities (1) 15,965 86 58,147 1,207 74,112 1,293 Residential mortgage-backed securities 2,417 3 39,984 875 42,401 878 Commercial mortgage-backed securities 40,471 300 22,465 223 62,936 523 Japanese corporate bonds and other debt securities 360,782 348 20,109 72 380,891 420 Foreign corporate bonds and other debt securities 186,478 972 22,090 449 208,568 1,421 Equity securities (marketable) 71,262 4,515 180 62 71,442 4,577 Total 2,753,127 7,090 237,627 3,225 2,990,754 10,315 Held-to-maturity securities: Debt securities: Agency mortgage-backed securities (2) 394,673 5,384 101,892 882 496,565 6,266 Total 394,673 5,384 101,892 882 496,565 6,266 Notes : (1) Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥86,973 million and ¥7,968 million, respectively, at March 31, 2015, and ¥69,805 million and ¥4,307 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. (2) All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. |
Realized Gains (Losses) on Sales of Available-for-Sale Securities | The following table shows the realized gains and losses on sales of available-for-sale securities for the fiscal years ended March 31, 2014, 2015 and 2016. See “Consolidated Statements of Cash Flows for the fiscal years ended March 31, 2014, 2015 and 2016” for the proceeds from sales of investments, the vast majority of which consists of the proceeds from sales of available-for-sale securities. 2014 2015 2016 (in millions of yen) Gross realized gains 231,955 220,250 297,344 Gross realized losses (29,387 ) (14,670 ) (45,376 ) Net realized gains (losses) on sales of available-for-sale securities 202,568 205,580 251,968 |
Other Investments Disclosure | The following table summarizes the composition of Other investments at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Equity method investments 194,188 258,180 Investments held by consolidated investment companies 53,061 42,045 Other equity interests 450,438 313,221 Total 697,687 613,446 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The table below presents loans outstanding by domicile and industry of borrower at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Domestic: Manufacturing 8,224,361 8,344,808 Construction and real estate 7,353,826 7,733,513 Services 4,272,968 4,655,704 Wholesale and retail 5,586,533 5,408,850 Transportation and communications 3,156,855 3,267,902 Banks and other financial institutions 3,852,820 3,632,481 Government and public institutions 4,611,900 3,395,784 Other industries (Note) 5,079,922 4,619,336 Individuals: Mortgage loans 11,021,956 10,589,646 Other 848,750 924,408 Total domestic 54,009,891 52,572,432 Foreign: Commercial and industrial 16,688,090 17,319,284 Banks and other financial institutions 6,077,144 6,382,449 Government and public institutions 1,010,704 1,174,665 Other (Note) 425,862 273,695 Total foreign 24,201,800 25,150,093 Total 78,211,691 77,722,525 Less: Unearned income and deferred loan fees—net 163,415 167,156 Total loans before allowance for loan losses 78,048,276 77,555,369 Note: Other industries of Domestic and Other of Foreign include trade receivables and lease receivables of consolidated VIEs. |
Financing Receivable Credit Quality Indicators | The table below presents credit quality information of loans based on the MHFG Group’s internal rating system at March 31, 2015 and 2016: Normal obligors Watch obligors excluding (1) Impaired Total A-B C-D Retail (2) Other (3) E1-E2 Retail (2) Other (3) (in millions of yen) 2015 Domestic: Manufacturing 4,663,535 2,607,651 109,615 198,621 147,978 16,424 1,019 479,518 8,224,361 Construction and real estate 3,331,659 2,943,178 600,856 165,660 192,124 18,478 562 101,309 7,353,826 Services 2,298,532 1,566,359 201,354 4,150 109,677 22,273 — 70,623 4,272,968 Wholesale and retail 2,261,669 2,695,642 237,050 53,691 148,722 39,189 65 150,505 5,586,533 Transportation and communications 2,310,918 674,273 89,258 422 36,383 10,029 — 35,572 3,156,855 Banks and other financial institutions 2,986,436 830,410 2,360 4,169 23,881 129 — 5,435 3,852,820 Government and public institutions 4,505,893 6,007 — 100,000 — — — — 4,611,900 Other industries 2,018,620 706,882 3,326 2,290,419 10,476 406 49,213 580 5,079,922 Individuals — 243,904 11,212,723 133,530 32,512 102,149 2,484 143,404 11,870,706 Total domestic 24,377,262 12,274,306 12,456,542 2,950,662 701,753 209,077 53,343 986,946 54,009,891 Foreign: Total foreign 15,153,557 5,246,343 8,428 3,160,768 344,533 22 100,018 188,131 24,201,800 Total 39,530,819 17,520,649 12,464,970 6,111,430 1,046,286 209,099 153,361 1,175,077 78,211,691 2016 Domestic: Manufacturing 4,859,256 2,681,958 103,343 148,102 163,213 12,473 2,958 373,505 8,344,808 Construction and real estate 3,956,798 2,709,617 601,251 157,057 215,244 16,408 255 76,883 7,733,513 Services 2,611,296 1,674,328 195,140 2,380 81,704 24,846 — 66,010 4,655,704 Wholesale and retail 2,240,228 2,552,552 223,677 57,865 147,404 39,486 546 147,092 5,408,850 Transportation and communications 2,410,967 695,697 86,094 380 35,090 10,518 — 29,156 3,267,902 Banks and other financial institutions 2,719,047 881,405 2,234 3,788 22,303 264 — 3,440 3,632,481 Government and public institutions 3,181,241 4,047 — 210,496 — — — — 3,395,784 Other industries 1,954,222 685,258 3,501 1,929,712 7,053 329 35,315 3,946 4,619,336 Individuals — 259,646 10,891,538 107,131 34,744 96,729 1,659 122,607 11,514,054 Total domestic 23,933,055 12,144,508 12,106,778 2,616,911 706,755 201,053 40,733 822,639 52,572,432 Foreign: Total foreign 15,540,347 5,748,131 8,382 3,132,856 472,696 10 80,607 167,064 25,150,093 Total 39,473,402 17,892,639 12,115,160 5,749,767 1,179,451 201,063 121,340 989,703 77,722,525 Notes: (1) Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered impaired. (2) Amounts represent small balance, homogeneous loans which are subject to pool allocations. (3) Non-impaired loans held by subsidiaries other than MHBK and MHTB constitute Other, since their portfolio segments are not identical to those of MHBK and MHTB. |
Impaired Financing Receivables | The table below presents impaired loans information at March 31, 2015 and 2016: Recorded investment (1) Unpaid Related (3) Average Interest (4) Requiring an Not (2) Total (in millions of yen) 2015 Domestic: Manufacturing 469,856 9,662 479,518 487,833 170,864 289,807 9,376 Construction and real estate 77,863 23,446 101,309 119,800 17,479 119,325 1,570 Services 60,606 10,017 70,623 78,470 18,771 77,028 1,449 Wholesale and retail 138,981 11,524 150,505 161,843 54,481 150,525 2,529 Transportation and communications 31,568 4,004 35,572 36,858 10,173 47,224 729 Banks and other financial institutions 5,373 62 5,435 5,448 2,263 7,487 98 Other industries 478 102 580 766 55 682 11 Individuals 68,337 75,067 143,404 158,344 6,202 173,726 2,553 Total domestic 853,062 133,884 986,946 1,049,362 280,288 865,804 18,315 Foreign: Total foreign 171,852 16,279 188,131 204,575 71,943 233,123 3,197 Total 1,024,914 150,163 1,175,077 1,253,937 352,231 1,098,927 21,512 2016 Domestic: Manufacturing 365,361 8,144 373,505 379,642 138,676 410,491 7,930 Construction and real estate 59,883 17,000 76,883 87,516 10,130 89,075 1,246 Services 56,695 9,315 66,010 72,603 19,095 69,525 1,292 Wholesale and retail 134,425 12,667 147,092 157,215 46,304 149,324 2,376 Transportation and communications 25,665 3,491 29,156 30,497 5,694 33,119 630 Banks and other financial institutions 3,390 50 3,440 3,440 1,095 5,188 42 Other industries 3,591 355 3,946 4,132 799 2,665 64 Individuals 63,367 59,240 122,607 135,325 6,085 133,015 2,058 Total domestic 712,377 110,262 822,639 870,370 227,878 892,402 15,638 Foreign: Total foreign 148,471 18,593 167,064 180,870 61,308 186,440 2,629 Total 860,848 128,855 989,703 1,051,240 289,186 1,078,842 18,267 Notes: (1) Amounts represent the outstanding balances of nonaccrual loans. The MHFG Group’s policy for placing loans in nonaccrual status corresponds to the Group’s definition of impaired loans. (2) These impaired loans do not require an allowance for loan losses because the MHFG Group has sufficient collateral to cover probable loan losses. (3) The allowance for loan losses on impaired loans includes the allowance for groups of small balance, homogeneous loans totaling ¥387,879 million and ¥347,839 million as of March 31, 2015 and 2016 which were collectively evaluated for impairment, in addition to the allowance for those loans that were individually evaluated for impairment. (4) Amounts represent gross interest income on impaired loans which were included in Interest income on loans in the consolidated statements of income. |
Troubled Debt Restructurings on Financing Receivables by Type of Restructuring | The following table presents TDRs that were entered into during the fiscal years ended March 31, 2015 and 2016: Loan forgiveness or debt to Interest rate Recorded (Note ) Charge-offs (in millions of yen) 2015 Domestic: Manufacturing — 1,236 380,149 Construction and real estate — — 31,554 Services — — 55,592 Wholesale and retail — — 153,577 Transportation and communications — — 25,452 Banks and other financial institutions — — 13,482 Other industries — — 2,607 Individuals — — 35,271 Total domestic — 1,236 697,684 Foreign: Total foreign — 503 50,730 Total — 1,739 748,414 2016 Domestic: Manufacturing 67,058 34,081 108,395 Construction and real estate — — 27,078 Services — — 43,919 Wholesale and retail — — 157,651 Transportation and communications 49 279 28,244 Banks and other financial institutions — — 6,342 Other industries — — 7,120 Individuals — — 28,163 Total domestic 67,107 34,360 406,912 Foreign: Total foreign — — 44,748 Total 67,107 34,360 451,660 |
Troubled Debt Restructurings on Financing Receivables Subsequently Defaulted | The following table presents payment defaults which occurred during the fiscal years ended March 31, 2015 and 2016 with respect to the loans modified as TDRs within the previous twelve months: Recorded investment 2015 2016 (in millions of yen) Domestic: Manufacturing 9,719 10,669 Construction and real estate 1,673 2,195 Services 2,479 4,824 Wholesale and retail 23,979 20,522 Transportation and communications 1,151 2,361 Individuals 4,359 3,864 Total domestic 43,360 44,435 Foreign: Total foreign 8,187 10,846 Total 51,547 55,281 |
Age Analysis of Past Due Loans | The table below presents an analysis of the age of the recorded investment in loans that are past due at March 31, 2015 and 2016: 30-59 days 60-89 days 90 days or Total past Current Total (in millions of yen) 2015 Domestic: Manufacturing 1,407 179 10,451 12,037 8,212,324 8,224,361 Construction and real estate 2,386 2,360 46,142 50,888 7,302,938 7,353,826 Services 1,628 650 7,626 9,904 4,263,064 4,272,968 Wholesale and retail 3,000 2,250 11,196 16,446 5,570,087 5,586,533 Transportation and communications 169 3,122 2,866 6,157 3,150,698 3,156,855 Banks and other financial institutions 333 — 12 345 3,852,475 3,852,820 Government and public institutions — — — — 4,611,900 4,611,900 Other industries — 7 979 986 5,078,936 5,079,922 Individuals 32,060 15,596 46,310 93,966 11,776,740 11,870,706 Total domestic 40,983 24,164 125,582 190,729 53,819,162 54,009,891 Foreign: Total foreign 98 47 14,826 14,971 24,186,829 24,201,800 Total 41,081 24,211 140,408 205,700 78,005,991 78,211,691 2016 Domestic: Manufacturing 1,555 163 9,454 11,172 8,333,636 8,344,808 Construction and real estate 2,713 1,024 35,691 39,428 7,694,085 7,733,513 Services 2,479 223 7,016 9,718 4,645,986 4,655,704 Wholesale and retail 3,193 886 8,861 12,940 5,395,910 5,408,850 Transportation and communications 594 81 2,033 2,708 3,265,194 3,267,902 Banks and other financial institutions — — — — 3,632,481 3,632,481 Government and public institutions — — — — 3,395,784 3,395,784 Other industries — — 29 29 4,619,307 4,619,336 Individuals 38,682 13,570 38,413 90,665 11,423,389 11,514,054 Total domestic 49,216 15,947 101,497 166,660 52,405,772 52,572,432 Foreign: Total foreign 859 2,598 30,000 33,457 25,116,636 25,150,093 Total 50,075 18,545 131,497 200,117 77,522,408 77,722,525 |
Allowance for loan losses (Tabl
Allowance for loan losses (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Allowance for Credit Losses on Financing Receivables | Changes in Allowance for loan losses by portfolio segment for the fiscal years ended March 31, 2014, 2015 and 2016 are shown below: Corporate Retail Other Total (in millions of yen) 2014 Balance at beginning of fiscal year 641,895 109,189 21,873 772,957 Provision (credit) for loan losses (128,368 ) (12,712 ) 14,850 (126,230 ) Charge-offs (47,927 ) (3,935 ) (13,286 ) (65,148 ) Recoveries 21,423 3,000 2,112 26,535 Net charge-offs (26,504 ) (935 ) (11,174 ) (38,613 ) Others (Note) 14,326 — 3,737 18,063 Balance at end of fiscal year 501,349 95,542 29,286 626,177 2015 Balance at beginning of fiscal year 501,349 95,542 29,286 626,177 Provision (credit) for loan losses (40,167 ) (33,261 ) 13,205 (60,223 ) Charge-offs (64,634 ) (3,266 ) (11,322 ) (79,222 ) Recoveries 19,086 1,454 2,743 23,283 Net charge-offs (45,548 ) (1,812 ) (8,579 ) (55,939 ) Others (Note) 7,543 — 2,701 10,244 Balance at end of fiscal year 423,177 60,469 36,613 520,259 2016 Balance at beginning of fiscal year 423,177 60,469 36,613 520,259 Provision (credit) for loan losses 33,532 (15,474 ) 16,502 34,560 Charge-offs (97,536 ) (2,173 ) (12,610 ) (112,319 ) Recoveries 17,232 1,399 2,034 20,665 Net charge-offs (80,304 ) (774 ) (10,576 ) (91,654 ) Others (Note) (8,666 ) — (3,252 ) (11,918 ) Balance at end of fiscal year 367,739 44,221 39,287 451,247 Note: Others includes primarily foreign exchange translation. The table below presents Allowance for loan losses and loans outstanding by portfolio segment disaggregated on the basis of impairment method at March 31, 2015 and 2016: Corporate Retail Other Total (in millions of yen) 2015 Allowance for loan losses 423,177 60,469 36,613 520,259 of which individually evaluated for impairment 284,247 8,092 15,234 307,573 of which collectively evaluated for impairment 138,930 52,377 21,379 212,686 Loans (Note) 59,108,129 12,791,303 6,312,259 78,211,691 of which individually evaluated for impairment 788,343 31,580 49,222 869,145 of which collectively evaluated for impairment 58,319,786 12,759,723 6,263,037 77,342,546 2016 Allowance for loan losses 367,739 44,221 39,287 451,247 of which individually evaluated for impairment 222,591 3,829 12,521 238,941 of which collectively evaluated for impairment 145,148 40,392 26,766 212,306 Loans (Note) 59,385,962 12,414,453 5,922,110 77,722,525 of which individually evaluated for impairment 634,049 24,768 63,280 722,097 of which collectively evaluated for impairment 58,751,913 12,389,685 5,858,830 77,000,428 Note: Amounts represent loan balances before deducting unearned income and deferred loan fees. |
Premises and equipment (Tables)
Premises and equipment (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment | Premises and equipment at March 31, 2015 and 2016 consist of the following: 2015 2016 (in millions of yen) Land 563,295 552,205 Buildings 822,229 827,458 Equipment and furniture 450,656 463,205 Leasehold improvements 82,610 88,195 Construction in progress 14,745 20,656 Software 862,353 1,086,124 Total 2,795,888 3,037,843 Less: Accumulated depreciation and amortization 1,163,403 1,199,853 Premises and equipment—net 1,632,485 1,837,990 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Goodwill | The changes in Goodwill during the fiscal years ended March 31, 2014, 2015 and 2016 were as follows: MHBK MHTB Total (in millions of yen) 2014 Balance at beginning of fiscal year 6,147 — 6,147 Goodwill acquired (1) 7,719 — 7,719 Impairment losses recognized 3,792 — 3,792 Foreign exchange translation 1,475 — 1,475 Balance at end of fiscal year 11,549 — 11,549 Gross amount of goodwill 80,615 — 80,615 Accumulated impairment losses 69,066 — 69,066 2015 Balance at beginning of fiscal year 11,549 — 11,549 Goodwill acquired — — — Impairment losses recognized — — — Foreign exchange translation 154 — 154 Balance at end of fiscal year 11,703 — 11,703 Gross amount of goodwill 81,254 — 81,254 Accumulated impairment losses 69,551 — 69,551 2016 Balance at beginning of fiscal year 11,703 — 11,703 Goodwill acquired (2) — 16,470 16,470 Impairment losses recognized 6,222 — 6,222 Foreign exchange translation (2,854 ) — (2,854 ) Balance at end of fiscal year 2,627 16,470 19,097 Gross amount of goodwill 78,003 16,470 94,473 Accumulated impairment losses 75,376 — 75,376 Notes: (1) Goodwill acquired is entirely related to the acquisition of Banco Mizuho do Brasil S.A. (2) Goodwill acquired is entirely related to the acquisition of Simplex Real Estate Management Inc. and Simplex REIT Partners Inc. |
Schedule of Intangible Assets by Major Class | The table below presents the gross carrying amount, accumulated amortization and net carrying amount of intangible assets, at March 31, 2015 and 2016: 2015 2016 Gross Accumulated Net Gross Accumulated Net (in millions of yen) Intangible assets subject to amortization: Customer relationships (Note) 73,949 30,164 43,785 73,949 35,178 38,771 Other 2,794 2,188 606 2,864 2,208 656 Total 76,743 32,352 44,391 76,813 37,386 39,427 Intangible assets not subject to amortization: Total 9,189 — 9,189 9,224 — 9,224 Total 85,932 32,352 53,580 86,037 37,386 48,651 Note: Customer relationships were acquired in connection with the merger of MHSC and Shinko on May 7, 2009. See Note 1 “Basis of presentation and summary of significant accounting policies” for further information. |
Schedule of Expected Amortization Expense | The table below presents the estimated aggregate amortization expense in respect of intangible assets for the next five years: (in millions of yen) Fiscal year ending March 31: 2017 4,800 2018 4,522 2019 4,281 2020 4,058 2021 3,469 |
Pledged assets and collateral (
Pledged assets and collateral (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Assets Pledged as Collateral | The following amounts, by balance sheet classification, have been pledged as collateral for borrowings and for other purposes at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Interest-bearing deposits in other banks 35 69 Trading account assets 8,462 7,939 Investments 10,432 10,254 Loans 6,881 5,871 Other assets 945 1,322 Total 26,755 25,455 |
Schedule of Secured Borrowings | The associated liabilities collateralized by the above assets at March 31, 2015 and 2016 are summarized below: 2015 2016 (in billions of yen) Deposits 773 813 Call money and funds purchased 1,265 — Payables under repurchase agreements 7,862 6,182 Payables under securities lending transactions 2,339 2,790 Other short-term borrowings 510 657 Long-term debt 5,113 5,545 Total 17,862 15,987 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Deposit Liabilities Table Disclosures | The balances of time deposits and certificates of deposit issued by domestic offices in amounts of ¥10 million (approximately US$89 thousand at the Federal Reserve Bank of New York’s noon buying rate on March 31, 2016) or more and the balances of these deposits issued by foreign offices in amounts of US$100,000 or more at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Domestic offices: Time deposits 19,841,134 19,209,570 Certificates of deposit 9,011,589 6,432,810 Total 28,852,723 25,642,380 Foreign offices: Time deposits 11,948,577 12,708,142 Certificates of deposit 6,683,316 5,394,695 Total 18,631,893 18,102,837 |
Interest Bearing Deposit Liabilities by Maturity Disclosures | The balance and remaining maturities of time deposits and certificates of deposit issued by domestic and foreign offices at March 31, 2016 are shown in the following table: Time Certificates of Total (in millions of yen) Domestic offices: Due in one year or less 24,232,170 6,406,310 30,638,480 Due after one year through two years 1,942,484 26,500 1,968,984 Due after two years through three years 1,445,878 — 1,445,878 Due after three years through four years 378,928 — 378,928 Due after four years through five years 399,454 — 399,454 Due after five years 147,810 — 147,810 Total 28,546,724 6,432,810 34,979,534 Foreign offices: Due in one year or less 12,648,102 5,284,772 17,932,874 Due after one year through two years 60,503 46,766 107,269 Due after two years through three years 6,367 2,817 9,184 Due after three years through four years 46 — 46 Due after four years through five years 13 60,368 60,381 Due after five years 259 — 259 Total 12,715,290 5,394,723 18,110,013 Total 41,262,014 11,827,533 53,089,547 |
Short-term borrowings and lon51
Short-term borrowings and long-term debt (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Details of Other Short-Term Borrowings | Details of Other short-term borrowings at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Commercial paper and short-term notes issued by consolidated VIEs of asset-backed commercial paper programs (1) (2) 310,042 289,219 Commercial paper and short-term notes issued by MHFG and its subsidiaries (1) (3) 742,500 1,369,302 Borrowings from the Bank of Japan 432,538 324,146 Other 97,517 97,372 Total 1,582,597 2,080,039 Notes: (1) Short-term notes are issued under the laws of Japan in the form of dematerialized commercial paper, whose characteristics are economically the same as commercial paper. (2) Commercial paper and short-term notes issued by consolidated VIEs of asset-backed commercial paper programs in the above table consist of commercial paper and short-term notes, of which the amounts were ¥235,837 million and ¥74,205 million, respectively, at March 31, 2015, and ¥232,538 million and ¥56,681 million, respectively, at March 31, 2016. (3) Commercial paper and short-term notes issued by MHFG and its subsidiaries in the above table consist of commercial paper and short-term notes, of which the amounts were ¥777,602 million and ¥591,700 million, respectively, at March 31, 2016. At March 31, 2015, all the amounts represent the outstanding balances of short-term notes. |
Long-Term Obligations | Long-term debt with original maturities of more than one year at March 31, 2015 and 2016 is comprised of the following: 2015 2016 (in millions of yen) Obligations under capital leases 29,129 37,811 Loan participation borrowings 83,128 64,524 Senior borrowings and bonds 11,080,548 11,581,024 Subordinated borrowings and bonds 3,389,436 3,087,563 Total 14,582,241 14,770,922 |
Schedule of Long-term Debt Instruments | The following table presents the interest rates and maturities of senior borrowings and bonds, and subordinated borrowings and bonds: Interest rates (1) Maturities (2) 2015 2016 (%) (in millions of yen) Senior borrowings and bonds: fixed rate denominated in Japanese yen 0.00-8.00 Apr. 2016-Apr. 2046 7,675,926 7,863,984 fixed rate denominated in U.S. dollars 0.00-7.49 Apr. 2016-Sep. 2045 1,579,411 1,783,532 fixed rate denominated in other currencies 0.10-5.00 Apr. 2016-May. 2037 71,802 135,515 floating rate denominated in Japanese yen 0.00-16.00 Apr. 2016-Mar. 2046 925,188 852,425 floating rate denominated in U.S. dollars 0.00-6.70 Apr. 2016-Jul. 2033 777,001 898,840 floating rate denominated in other currencies 0.09-9.40 Jan. 2017-Sep. 2035 51,220 46,728 Total 11,080,548 11,581,024 Subordinated borrowings and bonds: fixed rate denominated in Japanese yen 0.62-4.26 Apr. 2016-Perpetual 2,955,502 2,596,460 fixed rate denominated in U.S. dollars 4.30-6.65 Jun. 2016-Perpetual 433,934 491,103 Total 3,389,436 3,087,563 Total 14,469,984 14,668,587 Notes: (1) The interest rates disclosed reflect the range of contractual rates in effect at March 31, 2016. (2) Maturity information disclosed is the range of maturities at March 31, 2016. (3) None of the long-term debt issuances above are convertible to common stock. (4) Certain debt agreements permit the MHFG Group to redeem the related debt, in whole or in part, prior to maturity at the MHFG Group’s option on terms specified in the respective agreements. |
Schedule of Maturities of Long-term Debt | The following is a summary of contractual maturities of long-term debt subsequent to March 31, 2016: (in millions of yen) Fiscal year ending March 31: 2017 1,874,328 2018 1,493,654 2019 4,881,901 2020 1,776,560 2021 432,082 2022 and thereafter 4,312,397 Total 14,770,922 |
Other assets and liabilities (T
Other assets and liabilities (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Other Assets and Other Liabilities | The following table sets forth the details of other assets and liabilities at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Other assets: Accounts receivable from brokers, dealers and customers for securities transactions 2,490,956 1,718,769 Collateral provided for derivative transactions 673,511 884,651 Prepaid pension cost 712,523 612,102 Miscellaneous receivables 303,844 286,896 Margins provided for futures contracts 207,381 225,240 Security deposits 113,354 113,066 Loans held for sale 4,583 33,133 Other 612,452 828,428 Total 5,118,604 4,702,285 Other liabilities: Accounts payable to brokers, dealers and customers for securities transactions 1,894,023 2,882,824 Collateral accepted for derivative transactions 737,032 715,894 Guaranteed trust principal 561,364 623,904 Miscellaneous payables 925,322 442,352 Margins accepted for futures contracts 386,082 334,925 Factoring amounts owed to customers 290,718 242,392 Unearned income 138,681 144,903 Other 1,001,641 1,089,529 Total 5,934,863 6,476,723 |
Preferred stock (Tables)
Preferred stock (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Stockholders Equity | The following table shows the changes in the number of shares and the aggregate amount of preferred stock during the fiscal years ended March 31, 2014, 2015 and 2016: Class of stock Issued at Net Issued at Net Issued at Net Issued at (number of shares) Eleventh series class XI preferred stock (1) (2) 914,752,000 — 914,752,000 — 914,752,000 — 914,752,000 Thirteenth series class XIII preferred stock 36,690,000 (36,690,000 ) — — — — — Total 951,442,000 (36,690,000 ) 914,752,000 — 914,752,000 — 914,752,000 Class of stock Aggregate Net Aggregate Net Aggregate Net Aggregate (in millions of yen) Eleventh series class XI preferred stock (1) (2) 914,752 — 914,752 — 914,752 — 914,752 Thirteenth series class XIII preferred stock 36,690 (36,690 ) — — — — — Total 951,442 (36,690 ) 914,752 — 914,752 — 914,752 Notes: (1) The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. (2) All shares of the eleventh series class XI preferred stock were converted into common stock on July 1, 2016 and cancelled on July 13, 2016. |
Preferred stock | |
Schedule of Stock by Class | The composition of preferred stock at March 31, 2014, 2015 and 2016 is as follows: 2014 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 602,100,700 1,000 Yes Thirteenth series class XIII preferred stock — 36,690,000 — — — — First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,251,442,000 914,752,000 602,100,700 2015 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 701,631,100 1,000 Yes First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,214,752,000 914,752,000 701,631,100 2016 Aggregate amount Number of shares Liquidation Convertible Class of stock Authorized Issued In treasury (in millions of yen) (in yen) Eleventh series class XI preferred stock (1) 914,752 914,752,000 914,752,000 815,828,400 1,000 Yes First series class XIV preferred stock (2) — 900,000,000 — — — — Second series class XIV preferred stock (2) — 900,000,000 — — — — Third series class XIV preferred stock (2) — 900,000,000 — — — — Fourth series class XIV preferred stock (2) — 900,000,000 — — — — First series class XV preferred stock (3) — 900,000,000 — — — — Second series class XV preferred stock (3) — 900,000,000 — — — — Third series class XV preferred stock (3) — 900,000,000 — — — — Fourth series class XV preferred stock (3) — 900,000,000 — — — — First series class XVI preferred stock (4) — 1,500,000,000 — — — — Second series class XVI preferred stock (4) — 1,500,000,000 — — — — Third series class XVI preferred stock (4) — 1,500,000,000 — — — — Fourth series class XVI preferred stock (4) — 1,500,000,000 — — — — Total 914,752 4,214,752,000 914,752,000 815,828,400 Notes: (1) The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. (2) The total number of authorized shares from first to fourth series class XIV preferred stock shall not exceed 900,000,000. (3) The total number of authorized shares from first to fourth series class XV preferred stock shall not exceed 900,000,000. (4) The total number of authorized shares from first to fourth series class XVI preferred stock shall not exceed 1,500,000,000. |
Material Terms and Conditions Conversion of Eleventh Series Class XI Preferred Stock | Eleventh series class XI preferred stock is convertible into common stock at the option of the holder. The material terms and conditions of conversion are as follows: Conversion period Conversion ratio (Note) Eleventh series class XI preferred stock July 1, 2008 to June 30, 2016 ¥1,000/(conversion price), where the conversion price after adjustment is ¥282.90 on or after August 30, 2011; to be reset on July 1, 2015 (a “Reset Date”) as ¥1,000/(conversion price), where the conversion price is the lower of (x) the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the Tokyo Stock Exchange (“TSE”) for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to the Reset Date and (y) the conversion price after adjustment effective as of the day before the relevant Reset Date, provided that the conversion price shall not be less than ¥282.90. Note: Subject to adjustment, in the event of issuance or disposal by MHFG of common stock for a price below the “current market price”, a stock split, issuance of securities convertible into common stock at a price below the “current market price” at the time of issuance thereof or determination of the conversion price thereof, merger or amalgamation, or a capital decrease or stock consolidation occurs and in certain other circumstances. All preferred stock shares which have not been converted as described above by the end of the relevant conversion period will be converted into common stock on the day following the end of the conversion period on the following terms: Conversion date Conversion ratio Eleventh series class XI preferred stock July 1, 2016 ¥1,000/(current market price), where the current market price is the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the TSE for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to July 1, 2016, provided that the current market price shall not be less than ¥282.90. |
Common Stock | |
Schedule of Stock by Class | The following table shows the changes in the number of issued shares of common stock during the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (shares) Balance at beginning of fiscal year 24,164,864,477 24,263,885,187 24,621,897,967 Issuance of new shares of common stock due to conversion of Eleventh series class XI preferred stock 99,020,710 351,822,780 403,667,690 Issuance of new shares of common stock due to exercise of stock acquisition rights — 6,190,000 4,960,000 Balance at end of fiscal year 24,263,885,187 24,621,897,967 25,030,525,657 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Dividends Payable | The following table shows dividends on preferred stock and common stock during the fiscal years ended March 31, 2014, 2015 and 2016: 2014 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 6,717 Thirteenth series class XIII preferred stock (Note) 15 550 Common stock 6 144,998 Total 152,265 2015 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 5,906 Common stock 7 170,231 Total 176,137 2016 Cash dividends Class of stock Per share In aggregate (in yen) (in millions of yen) Eleventh series class XI preferred stock 20 3,572 Common stock 7.75 191,693 Total 195,265 Note: On July 11, 2013, MHFG acquired and cancelled all of the shares of the thirteenth series class XIII preferred stock. Consequently, the amount for the fiscal year does not include interim dividends. |
Accumulated other comprehensi55
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Changes in Each Component of Accumulated Other Comprehensive Income, Net Of Tax | Changes in each component of AOCI for the fiscal years ended March 31, 2014, 2015 and 2016 are as follows: 2014 2015 2016 (in millions of yen) AOCI, balance at beginning of fiscal year 777,997 1,117,877 2,041,005 Net unrealized gains (losses) on available-for-sale securities: Balance at beginning of fiscal year 995,124 1,123,272 1,747,607 Unrealized holding gains (losses) during year 255,140 763,115 (189,479 ) Less: reclassification adjustments for losses (gains) included in net income (126,992 ) (138,780 ) (148,669 ) Change during year 128,148 624,335 (338,148 ) Balance at end of fiscal year 1,123,272 1,747,607 1,409,459 Foreign currency translation adjustments: Balance at beginning of fiscal year (82,420 ) (6,434 ) 129,179 Foreign currency translation adjustments during year 75,986 134,104 (122,081 ) Less: reclassification adjustments for losses (gains) included in net income — 1,509 (788 ) Change during year 75,986 135,613 (122,869 ) Balance at end of fiscal year (6,434 ) 129,179 6,310 Pension liability adjustments: Balance at beginning of fiscal year (134,707 ) 1,039 164,219 Unrealized gains (losses) during year 131,360 163,191 (107,497 ) Less: reclassification adjustments for losses (gains) included in net income 4,386 (11 ) (3,183 ) Change during year 135,746 163,180 (110,680 ) Balance at end of fiscal year 1,039 164,219 53,539 Total other comprehensive income (loss), net of tax attributable to MHFG shareholders 339,880 923,128 (571,697 ) AOCI, balance at end of fiscal year 1,117,877 2,041,005 1,469,308 |
Amounts Reclassified Out of Accumulated Other Comprehensive Income into Net Income | The following table shows the amounts reclassified out of AOCI into net income during the fiscal year ended March 31, 2016: Before tax (1) Tax effect (2) Net of tax before Net of tax attributable to (2) Net of tax attributable shareholders (in millions of yen) Amounts reclassified out of AOCI into net income: Affected line items in the consolidated statements of income: Net unrealized gains (losses) on available-for-sale securities 213,907 (65,207 ) 148,700 (31 ) 148,669 Investment gains (losses)—net Foreign currency translation adjustments 788 — 788 — 788 Foreign exchange gains (losses)-net Pension liability adjustments 4,529 (1,317 ) 3,212 (29 ) 3,183 Salaries and employee benefits Total 219,224 (66,524 ) 152,700 (60 ) 152,640 Notes: (1) The amounts in the Before tax column are recorded in each account presented under the heading “Affected line items in the consolidated statements of income”. (2) The amounts in the Tax effect column and Net of tax attributable to noncontrolling interests column are recorded in Income tax expense and Net income attributable to noncontrolling interests in the consolidated statements of income, respectively. |
Regulatory matters (Tables)
Regulatory matters (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Capital Requirements and Regulatory Adjustments Over Transitional Period | The capital requirements and regulatory adjustments are being phased in over a transitional period as follows (italicized percentages indicate those still in transition periods): March 2013 March 2014 March 2015 March 2016 March 2017 March 2018 March 2019 March 2020 March 2021 March 2022 Minimum Common Equity Tier 1 capital 3.5 % 4.0 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % 4.5 % Minimum Tier 1 capital 4.5 % 5.5 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % 6.0 % Minimum total capital 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % 8.0 % Capital conservation buffer 0.0 % 0.0 % 0.0 % 0.625 % 1.25 % 1.875 % 2.5 % 2.5 % 2.5 % 2.5 % Phase out of recognition of capital instruments that no longer qualify as capital 90.0 % 80.0 % 70.0 % 60.0 % 50.0 % 40.0 % 30.0 % 20.0 % 10.0 % 0.0 % Phase-in of deductions from capital 0.0 % 20.0 % 40.0 % 60.0 % 80.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Additional loss absorbency requirements for G-SIBs and D-SIBs (Note) — — — 0.25 % 0.50 % 0.75 % 1.0 % 1.0 % 1.0 % 1.0 % Note: Figures assume that the additional loss absorbency requirements applied to the Group as a G-SIB and D-SIB |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Capital adequacy ratios of MHFG, MHBK, and MHTB as of March 31, 2015 and 2016 calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency are set forth in the following table: 2015 2016 Amount Ratio Amount Ratio (in billions of yen, except percentages) Consolidated: MHFG: Common Equity Tier 1 capital: Required (Note) 2,934 4.50 3,361 5.375 Actual 6,153 9.43 6,566 10.50 Tier 1 capital: Required (Note) 3,912 6.00 4,299 6.875 Actual 7,500 11.50 7,905 12.64 Total risk-based capital: Required (Note) 5,215 8.00 5,550 8.875 Actual 9,508 14.58 9,639 15.41 MHBK: Common Equity Tier 1 capital: Required 2,574 4.50 2,555 4.50 Actual 5,966 10.42 6,142 10.81 Tier 1 capital: Required 3,432 6.00 3,406 6.00 Actual 6,943 12.13 7,244 12.75 Total risk-based capital: Required 4,576 8.00 4,542 8.00 Actual 8,754 15.30 8,780 15.46 MHTB: Common Equity Tier 1 capital: Required 120 4.50 109 4.50 Actual 444 16.67 440 18.21 Tier 1 capital: Required 160 6.00 145 6.00 Actual 444 16.68 440 18.21 Total risk-based capital: Required 213 8.00 193 8.00 Actual 512 19.21 472 19.52 Non-consolidated: MHBK: Common Equity Tier 1 capital: Required 2,519 4.50 2,489 4.50 Actual 5,787 10.33 5,892 10.65 Tier 1 capital: Required 3,359 6.00 3,318 6.00 Actual 6,728 12.01 7,004 12.66 Total risk-based capital: Required 4,479 8.00 4,424 8.00 Actual 8,598 15.35 8,576 15.50 MHTB: Common Equity Tier 1 capital: Required 117 4.50 109 4.50 Actual 437 16.79 448 18.52 Tier 1 capital: Required 156 6.00 145 6.00 Actual 437 16.79 448 18.52 Total risk-based capital: Required 208 8.00 194 8.00 Actual 503 19.33 480 19.80 Note: The required amounts and ratios as of March 31, 2016 include those equivalent to a transition capital conservation buffer of 0.625% and transition additional loss absorbency requirements for a G-SIB and D-SIB |
Earnings per common share (Tabl
Earnings per common share (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per common share for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Net income: Net income attributable to MHFG shareholders 498,484 803,048 850,492 Less: Net income attributable to preferred shareholders 6,745 4,910 2,430 Net income attributable to common shareholders 491,739 798,138 848,062 Effect of dilutive securities: Convertible preferred stock 6,437 4,910 2,430 Net income attributable to common shareholders after assumed conversions 498,176 803,048 850,492 2014 2015 2016 (thousands of shares) Shares: Weighted average common shares outstanding 24,189,670 24,368,116 24,806,161 Effect of dilutive securities: Convertible preferred stock (Note) 1,164,941 994,745 563,044 Stock options 16,641 18,186 17,828 Weighted average common shares after assumed conversions 25,371,252 25,381,047 25,387,033 2014 2015 2016 (in yen) Amounts per common share: Basic net income per common share 20.33 32.75 34.19 Diluted net income per common share 19.64 31.64 33.50 Note: The number of common shares after assumed conversion of the convertible preferred stock is based on the applicable conversion prices. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the components of Income tax expense for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Current: Domestic 92,814 184,180 162,408 Foreign 42,919 71,250 61,009 Total current tax expense 135,733 255,430 223,417 Deferred: Domestic 94,911 187,134 127,185 Foreign (4,536 ) (5,144 ) (4,060 ) Total deferred tax expense 90,375 181,990 123,125 Total income tax expense 226,108 437,420 346,542 |
Comprehensive Income Tax (Expense) Benefit Components | The detailed amounts recorded directly in Equity are as follows: 2014 2015 2016 (in millions of yen) Net unrealized gains (losses) on available-for-sale securities: Unrealized gains (losses) 161,269 403,690 (97,339 ) Less: reclassification adjustments (70,228 ) (65,699 ) (65,207 ) Total 91,041 337,991 (162,546 ) Foreign currency translation adjustments: Unrealized gains (losses) — — 126 Less: reclassification adjustments — — — Total — — 126 Pension liability adjustments: Unrealized gains (losses) 71,646 87,654 (51,661 ) Less: reclassification adjustments 2,442 (16 ) (1,317 ) Total 74,088 87,638 (52,978 ) Total tax effect before allocation to noncontrolling interests 165,129 425,629 (215,398 ) |
Schedule of Effective Income Tax Rate Reconciliation | The following table shows a reconciliation of Income tax expense at the effective statutory tax rate to the actual income tax expense for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen, except tax rates) Income before income tax expense 726,343 1,267,653 1,196,605 Effective statutory tax rate 38.01 % 35.64 % 33.06 % Income tax calculated at the statutory tax rate 276,083 451,792 395,598 Income not subject to tax (22,354 ) (20,911 ) (12,888 ) Expenses not deductible for tax purposes 1,550 1,532 1,521 Tax rate differentials of subsidiaries (1,611 ) (3,517 ) (2,208 ) Change in valuation allowance (1) (44,620 ) (4,444 ) (1,897 ) Change in undistributed earnings of subsidiaries 932 16,084 (16,112 ) Change in net operating loss carryforwards resulting from intercompany capital transactions 235 (1,290 ) (1,446 ) Effect of enacted change in tax rates 15,786 (2) (21,714 ) (3) (7,976 ) (4) Other 107 19,888 (8,050 ) Income tax expense 226,108 437,420 346,542 Notes: (1) In the fiscal year ended March 31, 2015, the MHFG Group partially changed the basis of presentation in respect of change in valuation allowance to represent the amount of change that directly affected Income tax expense. The current period’s presentation of change in valuation allowance excludes the effect of expiration of net operating loss carryforwards for which a valuation allowance had been fully recorded against the associated deferred tax assets. Refer to the roll-forward table in Note 19 for details of expiration of net operating loss carryforwards which affected the gross valuation allowance but not the total Income tax expense in prior periods. (2) On March 20, 2014, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ended March 31, 2015 was reduced to 35.64% from the previous rate of 38.01%. The decrease in the Group’s balance of net deferred tax assets, reflecting such tax rate reductions, was recognized in Income tax expense in the fiscal year ended March 31, 2014. (3) On March 31, 2015, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ended March 31, 2016 has been reduced to 33.06% from the previous rate of 35.64%. In addition, the tax rate for the fiscal years ending March 31, 2017 and thereafter will be 32.26%. The decrease in the Group’s balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2015. (4) On March 29, 2016, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG’s tax returns for the fiscal year ending March 31, 2017 and 2018 will be reduced to 30.86% from the previous rate of 32.26%. In addition, the tax rate for the fiscal years ending March 31, 2019 and thereafter will be 30.62%. The decrease in the Group’s balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2016. |
Schedule of Deferred Tax Assets and Liabilities | The components of net deferred tax assets (liabilities) at March 31, 2015 and 2016 are as follows: 2015 2016 (in millions of yen) Deferred tax assets: Investments 575,974 522,197 Allowance for loan losses 225,436 178,683 Derivative financial instruments 8,719 — Net operating loss carryforwards (Note) 392,363 341,572 Other 197,335 170,414 1,399,827 1,212,866 Valuation allowance (388,551 ) (339,922 ) Deferred tax assets, net of valuation allowance 1,011,276 872,944 Deferred tax liabilities: Available-for-sale securities 909,744 710,497 Prepaid pension cost and accrued pension liabilities 218,124 174,959 Derivative financial instruments — 56,877 Trading securities 39,056 23,154 Undistributed earnings of subsidiaries 28,056 11,944 Premises and equipment 2,614 1,033 Other 49,717 38,990 Deferred tax liabilities 1,247,311 1,017,454 Net deferred tax assets (liabilities) (236,035 ) (144,510 ) Note: The amount includes ¥281,403 million and ¥268,544 million related to MHFG’s net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. |
Breakdown of Net Operating Loss Carryforwards by Tax Jurisdiction | The following table and accompanying footnotes provide a breakdown of deferred tax assets and the valuation allowance recognized in respect of net operating loss carryforwards by tax jurisdiction and by year of expiration as of March 31, 2015 and 2016: Deferred tax assets Valuation allowance Deferred tax assets, net of valuation allowance (in billions of yen) 2015 Japan (1) 286 (283 ) 3 The United States 17 (11 ) 6 The United Kingdom (2) 86 (86 ) — Others 3 (3 ) — Total 392 (383 ) 9 2016 Japan (3) 270 (270 ) — The United States 16 (8 ) 8 The United Kingdom (4) 53 (53 ) — Others 3 (3 ) — Total 342 (334 ) 8 Notes: (1) ¥279 billion of the Japan net operating losses of ¥286 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. (2) The United Kingdom net operating losses of ¥86 billion may be carried forward indefinitely. (3) ¥265 billion of the Japan net operating losses of ¥270 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. (4) The United Kingdom net operating losses of ¥53 billion may be carried forward indefinitely. |
Rollforward of Valuation Allowance | The following table presents a roll-forward of the valuation allowance for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Balance at beginning of fiscal year 584,665 443,847 388,551 Changes that directly affected Income tax expense (44,620 ) (4,444 ) (1,897 ) Changes that did not affect Income tax expense: Expiration of net operating loss carryforwards (6,313 ) — — Others (89,885 ) (50,852 ) (46,732 ) Total (96,198 ) (50,852 ) (46,732 ) Balance at end of fiscal year 443,847 388,551 339,922 |
Summary of Operating Loss Carryforwards | These carryforwards are scheduled to expire as follows: Net operating loss (in billions of yen) Fiscal year ending March 31: 2017 — 2018 865 2019 4 2020 — 2021 — 2022 and thereafter 364 Total 1,233 |
Reconciliation Of Unrecognized Tax Benefits | The following table is a roll-forward of unrecognized tax benefits for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Total unrecognized tax benefits at beginning of fiscal year 1,454 1,691 1,632 Gross amount of increases (decreases) related to positions taken during prior years (6 ) (37 ) (415 ) Gross amount of increases related to positions taken during the current year 100 346 181 Amount of decreases related to settlements — (652 ) — Foreign exchange translation 143 284 (98 ) Total unrecognized tax benefits at end of fiscal year 1,691 1,632 1,300 |
Pension and other employee be59
Pension and other employee benefit plans (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Components of Net Periodic Costs | The following table presents the components of net periodic cost of the severance indemnities and pension plans for the fiscal years ended March 31, 2014, 2015 and 2016: 2014 2015 2016 (in millions of yen) Service cost-benefits earned during the fiscal year 33,429 33,578 38,032 Interest costs on projected benefit obligations 20,341 13,060 10,479 Expected return on plan assets (37,047 ) (38,087 ) (40,603 ) Amortization of prior service benefits (195 ) (195 ) (195 ) Amortization of net actuarial loss (gain) 7,039 150 (4,108 ) Special termination benefits 5,429 5,504 4,456 Net periodic benefit cost 28,996 14,010 8,061 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) before-tax for the fiscal years ended March 31, 2015 and 2016 are summarized as follows: 2015 2016 (in millions of yen) Net actuarial gain (loss) 246,523 (160,132 ) Amortization of net actuarial loss (gain) 150 (4,108 ) Amortization of prior service benefits (195 ) (195 ) Total recognized in other comprehensive income (loss) before-tax 246,478 (164,435 ) |
Schedule of Assumptions Used | Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost are as follows: 2014 2015 2016 Weighted-average assumptions used to determine benefit obligations at fiscal year end: Discount rates 0.96 % 0.76 % 0.37 % Rates of increase in future compensation levels 2.00-4.80 % 2.00-4.80 % 1.80-4.80 % Weighted-average assumptions used to determine net periodic benefit cost during the year: Discount rates 1.44 % 0.96 % 0.76 % Rates of increase in future compensation levels 2.31-6.57 % 2.00-4.80 % 2.00-4.80 % Expected rates of return on plan assets 2.42 % 2.17 % 1.95 % |
Combined Funded Status and Amounts Recognized in Accompanying Consolidated Balance Sheets | The following table sets forth the combined funded status and amounts recognized in the accompanying consolidated balance sheets at March 31, 2015 and 2016 for the plans of MHFG and its subsidiaries: 2015 2016 (in millions of yen) Change in benefit obligations: Benefit obligations at beginning of fiscal year 1,320,690 1,392,459 Service cost 33,578 38,032 Interest cost 13,060 10,479 Plan participants’ contributions 1,179 1,192 Actuarial loss (gain) 86,780 125,122 Foreign exchange translation 2,444 (4,054 ) Benefits paid (50,266 ) (51,392 ) Lump-sum payments (15,006 ) (16,630 ) Benefit obligations at end of fiscal year 1,392,459 1,495,208 Change in plan assets: Fair value of plan assets at beginning of fiscal year 1,706,054 2,081,600 Actual return (negative return) on plan assets 371,694 5,058 Foreign exchange translation 1,833 (3,312 ) Employer contributions 51,106 49,850 Plan participants’ contributions 1,179 1,192 Benefits paid (50,266 ) (51,392 ) Fair value of plan assets at end of fiscal year 2,081,600 2,082,996 Funded status 689,141 587,788 Amounts recognized in the consolidated balance sheets consist of: Prepaid pension cost 712,523 612,102 Accrued pension liability (23,382 ) (24,314 ) Net amount recognized 689,141 587,788 Amounts recognized in Accumulated other comprehensive income (loss) before-tax consist of: Prior service benefits (cost) (830 ) (1,025 ) Net actuarial gain (loss) 221,859 57,619 Net amount recognized 221,029 56,594 Note: The aggregated accumulated benefit obligations of these plans were ¥1,390,738 million and ¥1,493,393 million, respectively, as of March 31, 2015 and 2016. The defined benefit plans generally employ a multi-variable and non-linear formula based upon rank and years of service. Employees with service in excess of one year are qualified to receive lump-sum severance indemnities. |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table shows the projected benefit obligations and the fair value of plan assets for the plans of MHFG and its subsidiaries with projected benefit obligations in excess of plan assets, and the accumulated benefit obligations and the fair value of plan assets for the plans with accumulated benefit obligations in excess of plan assets at March 31, 2015 and 2016: 2015 2016 (in millions of yen) Plans with projected benefit obligations in excess of plan assets: Projected benefit obligations 51,707 50,554 Fair value of plan assets 28,325 26,240 Plans with accumulated benefit obligations in excess of plan assets: Accumulated benefit obligations 49,986 48,738 Fair value of plan assets 28,325 26,240 Note: The plans with projected benefit obligations in excess of plan assets include those with accumulated benefit obligations in excess of plan assets. |
Schedule of Allocation of Plan Assets | MHFG and certain subsidiaries’ target allocation for the plan assets, excluding those of the employee retirement benefit trusts, at March 31, 2016 is as follows: Asset category Asset ratio Japanese equity securities 5.00 % Japanese debt securities 44.00 % Foreign equity securities 25.00 % Foreign debt securities 10.00 % General account of life insurance companies 14.00 % Other 2.00 % Total 100.00 % Note: General account of life insurance companies is a contract with life insurance companies which guarantees payments of principal and predetermined interest rates. |
Fair Value of Plan Assets by Asset Category | The following table presents the fair value of plan assets of MHFG and its subsidiaries at March 31, 2015 and 2016, by asset class. For the detailed information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy and the valuation methodologies, see Note 27 “Fair value”. 2015 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in billions of yen) Japanese equity securities: Common stocks (1) 1,085 — — 1,085 1,114 1 — 1,115 Pooled funds (2) 9 65 — 74 10 51 — 61 Japanese debt securities: Government bonds 240 — — 240 262 — — 262 Pooled funds (2) — 73 — 73 — 84 — 84 Other — 28 — 28 — 32 — 32 Foreign equity securities: Common stocks 106 4 — 110 98 4 — 102 Pooled funds (2) 16 146 — 162 — 154 — 154 Foreign debt securities: Government bonds 66 7 — 73 72 6 — 78 Pooled funds (2) — 13 — 13 — 13 — 13 Other — 16 — 16 — 18 — 18 General account of life insurance companies (3) — 118 — 118 — 121 — 121 Hedge funds — — 3 3 — — 3 3 Other 84 (4) 3 (5) — 87 44 (4) (4 ) (5) — 40 Total assets at fair value 1,606 473 3 2,082 1,600 480 3 2,083 Notes: (1) This class represents equity securities held in the employee retirement benefit trusts of ¥1,085 billion and ¥1,115 billion at March 31, 2015 and 2016, respectively, which are well-diversified across industries. (2) These classes primarily include pension investment fund trusts. Investments in these classes are generally measured at their net asset values per share and can be redeemed within a short-term period upon request. (3) Investments in this class are measured at conversion value. (4) Amounts primarily include cash and short-term assets carried at fair value. (5) Amounts primarily include foreign exchange contracts carried at fair value. |
Schedule of Expected Benefit Payments | The following table presents forecasted benefit payments including the effect of expected future service for the fiscal years indicated: (in millions of yen) Fiscal year ending March 31: 2017 66,777 2018 68,373 2019 69,634 2020 70,856 2021 71,263 2022-2026 350,152 |
Stock-based compensation (Table
Stock-based compensation (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Share-based Compensation, Stock Options, Activity | The following is a roll-forward of MHFG Stock Plan for the fiscal year ended March 31, 2016: Number of Weighted-average Weighted-average Aggregate (in yen) (in years) (in millions of yen) Outstanding at beginning of fiscal year 23,958,000 1 Exercised during fiscal year 6,768,000 1 Outstanding at end of fiscal year 17,190,000 1 17.46 2,872 Exercisable at end of fiscal year — — — — |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The expected dividend yield is based on the dividend rate of MHFG common stock at the date of grant. 2015 Risk-free interest rate 0.01 % Expected volatility 25.91 % Expected remaining term (in years) 2.46 Expected dividend yield 3.42 % |
Derivative financial instrume61
Derivative financial instruments (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Derivative Instruments | The following table summarizes the notional and fair value amounts of derivative instruments outstanding as of March 31, 2015 and 2016. The fair values of derivatives are presented on a gross basis and not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under master netting agreements in the consolidated balance sheets, or the table below. Fair value Derivative receivables (2) Derivative payables (2) 2015 Notional amount (1) Designated Not designated Designated Not designated (in billions of yen) Interest rate contracts 1,115,149 — 9,612 — 9,374 Foreign exchange contracts 142,428 3 3,602 3 3,604 Equity-related contracts 2,767 — 197 22 199 Credit-related contracts 4,967 — 42 — 36 Other contracts 333 — 38 — 33 Total 1,265,644 3 13,491 25 13,246 Fair value Derivative receivables (2) Derivative payables (2) 2016 Notional amount (1) Designated Not designated Designated Not designated (in billions of yen) Interest rate contracts 1,066,252 — 11,522 — 11,269 Foreign exchange contracts 141,517 4 3,126 1 2,979 Equity-related contracts 3,115 18 152 — 140 Credit-related contracts 4,826 — 43 — 37 Other contracts 327 — 59 — 55 Total 1,216,037 22 14,902 1 14,480 Notes: (1) Notional amount includes the sum of gross long and gross short third-party contracts. (2) Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. |
Disclosure of Credit Derivatives | The following table summarizes the notional and fair value amounts of credit derivatives at March 31, 2015 and 2016: 2015 2016 Notional amount Fair value Notional amount Fair value (in billions of yen) Credit protection written: Investment grade 1,619 29 1,603 14 Non-investment grade 822 5 763 1 Total 2,441 34 2,366 15 Credit protection purchased 2,626 (28 ) 2,592 (9 ) Note: The rating scale is based upon either the external ratings or the internal ratings of the underlying reference credit. The lowest investment grade rating is considered to be BBB - |
Notional And Credit Risk Amounts Of Outstanding Derivative Positions Disclosure | The following table shows the maximum potential amount of future payments for credit protection written by expiration period at March 31, 2015 and 2016: Maximum payout/Notional amount 2015 2016 (in billions of yen) One year or less 343 538 After one year through five years 2,032 1,729 After five years 66 99 Total 2,441 2,366 Note: The maximum potential amount of future payments is the aggregate notional amount of the credit derivatives where the Group wrote the credit protection, and it has not been reduced by the effect of any amounts that the Group may possibly collect on the underlying assets and the related cash flows, nor netted against that of credit protection purchased. |
Schedule Of Derivative Instruments Value Including Credit Risk Related Contingent Features Table | The following table shows the quantitative information about derivative instruments with credit-risk-related contingent features at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions 799 790 Collateral provided to counterparties in normal course of business 755 746 Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered 44 44 |
Designated as Hedging Instrument | Fair Value Hedging | |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table summarizes gains and losses information related to fair value hedges for the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income 2014 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts 801 (1,112 ) — (311 ) Total 801 (1,112 ) — (311 ) Gains (losses) recorded in income 2015 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts (29,666 ) 28,005 — (1,661 ) Total (29,666 ) 28,005 — (1,661 ) Gains (losses) recorded in income 2016 Derivatives Hedged Hedge Net gain (loss) excluded (in millions of yen) Equity-related contracts 14,623 (18,224 ) — (3,601 ) Total 14,623 (18,224 ) — (3,601 ) |
Designated as Hedging Instrument | Net Investment Hedging | |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table summarizes gains and losses information related to net investment hedges for the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income and other comprehensive income (“OCI”) 2014 2015 2016 Effective portion recorded in OCI Ineffective portion recorded in income Effective portion recorded in OCI Ineffective portion recorded in income Effective portion recorded in OCI Ineffective portion recorded in income (in millions of yen) Financial instruments hedging foreign exchange risk (102,150 ) (7,316 ) (53,252 ) (2,678 ) 46,697 696 Total (102,150 ) (7,316 ) (53,252 ) (2,678 ) 46,697 696 Note: No amount related to the effective portion of net investment hedges was reclassified from Accumulated other comprehensive income to earnings for the fiscal years ended March 31, 2014 and 2015, respectively. Related to the effective portion of net investment hedges, the gains of ¥345 million was reclassified from Accumulated other comprehensive income to earnings for the fiscal year ended March 31, 2016. |
Not Designated as Hedging Instrument | |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table summarizes gains and losses on derivatives not designated or qualifying as hedges during the fiscal years ended March 31, 2014, 2015 and 2016: Gains (losses) recorded in income 2014 2015 2016 (in millions of yen) Interest rate contracts (79,562 ) 265,324 319,225 Foreign exchange contracts (13,167 ) (93,601 ) 65,101 Equity-related contracts (1) (41,296 ) (100,326 ) 21,571 Credit-related contracts (2) (7,761 ) (18,007 ) (6,960 ) Other contracts (6,857 ) 368 2,015 Total (148,643 ) 53,758 400,952 Notes: (1) The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is not included in the above table. (2) Amounts include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Guarantor Obligations | The maximum exposure or notional amount below does not represent the expected losses from the execution of the guarantees. 2015 Maximum Amount by expiration period One year or less After one year After five years (in billions of yen) Performance guarantees 2,226 1,147 815 264 Guarantees on loans 325 103 47 175 Guarantees on securities 184 149 35 — Other guarantees 1,556 1,112 360 84 Guarantees for the repayment of trust principal 140 — 110 30 Liabilities of trust accounts 14,936 14,756 51 129 Derivative financial instruments 22,216 11,163 9,754 1,299 2016 Maximum Amount by expiration period One year or less After one year After five years (in billions of yen) Performance guarantees 2,110 1,049 909 152 Guarantees on loans 297 117 20 160 Guarantees on securities 203 67 136 — Other guarantees 1,571 1,206 325 40 Guarantees for the repayment of trust principal 1,141 1,051 63 27 Liabilities of trust accounts 12,747 12,537 79 131 Derivative financial instruments 15,792 6,505 8,032 1,255 |
Schedule of Off Balance Sheet Commitments and Guarantees | The table below summarizes the contractual amounts with regard to these undrawn commitments at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Commitments to extend credit (Note) 71,750 75,742 Commercial letters of credit 584 448 Total 72,334 76,190 Note: Commitments to extend credit include commitments to invest in securities. |
Future Minimum Lease Payments for Capitalized Leases and Rental Payments for Operating Leases | The table below shows future minimum lease payments for capitalized leases and future minimum rental payments for operating leases at March 31, 2016: Capitalized leases Operating leases (in millions of yen) Fiscal year ending March 31: 2017 10,053 53,117 2018 9,075 46,086 2019 8,290 40,736 2020 6,330 36,399 2021 3,841 33,830 2022 and thereafter 1,384 66,720 Total minimum lease/rental payments 38,973 276,888 Amount representing interest 1,162 Present value of minimum lease payments 37,811 |
Performance guarantees, Guarantees on loans, Guarantees on securities and Other guarantees | |
Schedule of Guarantor Obligations | The table below presents the maximum potential amount of future payments of performance guarantees, guarantees on loans, guarantees on securities and other guarantees classified based on internal ratings at March 31, 2015 and 2016: 2015 2016 (in billions of yen) Investment grade 3,267 3,160 Non-investment grade 1,024 1,022 Total 4,291 4,182 Note: Investment grade in the internal rating scale generally corresponds to BBB- or above in the external rating scale. |
Variable interest entities an63
Variable interest entities and securitizations (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Variable Interest Entities | The table below shows the consolidated assets of the Group’s consolidated VIEs as well as total assets and maximum exposure to loss for its significant unconsolidated VIEs, as of March 31, 2015 and 2016: Consolidated VIEs Significant 2015 Consolidated assets Total assets Maximum (in billions of yen) Asset-backed commercial paper/loan programs 2,610 — — Asset-backed securitizations 427 291 19 Investments in securitization products 338 445 154 Investment funds 2,483 2,094 301 Trust arrangements and other 27 — — Total 5,885 2,830 474 Consolidated VIEs Significant 2016 Consolidated assets Total assets Maximum (in billions of yen) Asset-backed commercial paper/loan programs 2,092 — — Asset-backed securitizations 579 205 13 Investments in securitization products 337 445 154 Investment funds 1,660 2,422 367 Trust arrangements and other 24 — — Total 4,692 3,072 534 |
Unconsolidated VIEs | |
Schedule of Variable Interest Entities | The tables below present the carrying amounts and classification of assets and liabilities on the MHFG Group’s balance sheets that relate to its variable interests in significant unconsolidated VIEs, as of March 31, 2015 and 2016: Assets on balance sheets related to unconsolidated VIEs: 2015 2016 (in billions of yen) Trading account assets 60 55 Investments 187 254 Loans 217 205 Total 464 514 Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: 2015 2016 (in billions of yen) Payables under securities lending transactions 19 27 Trading account liabilities — 1 Total 19 28 Maximum exposure to loss (Note) 474 534 Note: This represents the amount the Group could be required to record in its consolidated statements of income associated with on-balance-sheet exposures and off-balance-sheet liabilities such as undrawn commitments. |
Fee and commission income (Tabl
Fee and commission income (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Other Income and Other Expense Disclosure | Details of Fee and commission income for the fiscal years ended March 31, 2014, 2015 and 2016 are as follows: 2014 2015 2016 (in millions of yen) Securities-related business 170,311 172,234 175,723 Deposits and lending business 114,073 131,491 143,763 Remittance business 108,534 110,181 109,859 Trust fees 48,914 49,827 50,496 Fees for other customer services 233,931 251,924 263,112 Total 675,763 715,657 742,953 |
Trading account gains and los65
Trading account gains and losses (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Gain (Loss) on Investments | Net trading gains (losses) for the fiscal years ended March 31, 2014, 2015 and 2016 are comprised of the following: 2014 2015 2016 (in millions of yen) Trading account gains (losses)—net: Trading securities 80,606 635,027 156,559 Derivative contracts: Interest rate contracts (1) (79,562 ) 265,324 319,225 Foreign exchange contracts (13,167 ) (93,601 ) 65,101 Equity-related contracts (1) (41,607 ) (101,988 ) 17,970 Credit-related contracts (2) 899 (15,171 ) (1,731 ) Other contracts (6,856 ) 368 2,015 Total (59,687 ) 689,959 559,139 Foreign exchange gains (losses)—net (3) 25,631 (34,520 ) 113,553 Net trading gains (losses) (34,056 ) 655,439 672,692 Notes: (1) The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is included in the above table. (2) Amounts do not include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. The net loss is recorded in Other noninterest expenses. (3) Amounts include realized and unrealized gains and losses on both derivative instruments and nonderivative instruments, such as translation gains and losses related to foreign currency-denominated available-for-sale securities for which the fair value option has been elected in accordance with ASC 825. |
Fair value (Tables)
Fair value (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis at March 31, 2015 and 2016, including those for which the MHFG Group has elected the fair value option, are summarized below: 2015 Level 1 Level 2 Level 3 Assets/ (in billions of yen) Assets: Trading securities (1) Japanese government bonds 1,680 32 — 1,712 Japanese local government bonds — 72 — 72 U.S. Treasury bonds and federal agency securities 4,759 134 — 4,893 Other foreign government bonds 2,093 344 — 2,437 Agency mortgage-backed securities 1,132 376 — 1,508 Residential mortgage-backed securities — — 29 29 Commercial mortgage-backed securities — 2 4 6 Certificates of deposit and commercial paper — 813 — 813 Corporate bonds and other 42 1,802 639 2,483 Equity securities 1,045 864 60 1,969 Derivatives: Interest rate contracts 71 9,516 25 9,612 Foreign exchange contracts 17 3,577 11 3,605 Equity-related contracts 58 134 5 197 Credit-related contracts — 41 1 42 Other contracts 1 22 15 38 Available-for-sale securities: Japanese government bonds 16,672 742 — 17,414 Japanese local government bonds — 239 — 239 U.S. Treasury bonds and federal agency securities 117 — — 117 Other foreign government bonds 415 551 — 966 Agency mortgage-backed securities 87 735 — 822 Residential mortgage-backed securities — 97 166 263 Commercial mortgage-backed securities — — 169 169 Japanese corporate bonds and other debt securities — 1,787 155 1,942 Foreign corporate bonds and other debt securities — 657 85 742 Equity securities (marketable) 4,362 35 — 4,397 Other investments — — 53 53 Total assets measured at fair value on a recurring basis (2) 32,551 22,572 1,417 56,540 Liabilities: Trading securities sold, not yet purchased 2,856 345 — 3,201 Derivatives: Interest rate contracts 74 9,293 7 9,374 Foreign exchange contracts 14 3,590 3 3,607 Equity-related contracts 73 129 19 221 Credit-related contracts — 34 2 36 Other contracts 1 17 15 33 Long-term debt (3) — 153 587 740 Total liabilities measured at fair value on a recurring basis 3,018 13,561 633 17,212 2016 Level 1 Level 2 Level 3 Assets/ (in billions of yen) Assets: Trading securities (1) Japanese government bonds 2,272 31 — 2,303 Japanese local government bonds — 79 — 79 U.S. Treasury bonds and federal agency securities 3,729 77 — 3,806 Other foreign government bonds 2,192 373 — 2,565 Agency mortgage-backed securities 995 563 — 1,558 Residential mortgage-backed securities — — 21 21 Commercial mortgage-backed securities — 2 2 4 Certificates of deposit and commercial paper — 881 — 881 Corporate bonds and other 9 1,693 720 2,422 Equity securities 758 641 59 1,458 Derivatives: Interest rate contracts 97 11,396 29 11,522 Foreign exchange contracts 23 3,099 8 3,130 Equity-related contracts 46 95 29 170 Credit-related contracts — 40 3 43 Other contracts — 21 38 59 Available-for-sale securities: Japanese government bonds 15,037 726 — 15,763 Japanese local government bonds — 241 — 241 U.S. Treasury bonds and federal agency securities 438 — — 438 Other foreign government bonds 352 590 — 942 Agency mortgage-backed securities 169 780 — 949 Residential mortgage-backed securities — 87 123 210 Commercial mortgage-backed securities — — 187 187 Japanese corporate bonds and other debt securities — 1,921 174 2,095 Foreign corporate bonds and other debt securities — 739 108 847 Equity securities (marketable) 3,716 65 — 3,781 Other investments — — 42 42 Total assets measured at fair value on a recurring basis (2) 29,833 24,140 1,543 55,516 Liabilities: Trading securities sold, not yet purchased 2,482 148 — 2,630 Derivatives: Interest rate contracts 98 11,168 3 11,269 Foreign exchange contracts 26 2,953 1 2,980 Equity-related contracts 60 56 24 140 Credit-related contracts — 33 4 37 Other contracts — 18 37 55 Long-term debt (3) — 433 623 1,056 Total liabilities measured at fair value on a recurring basis 2,666 14,809 692 18,167 Notes: (1) Trading securities include foreign currency denominated securities for which the MHFG Group elected the fair value option. (2) Amounts included the investments measured at the NAV per share at March 31, 2015 and 2016, of ¥878 billion and ¥682 billion, respectively, of which ¥842 billion and ¥644 billion, respectively, were classified in Level 2, and ¥36 billion and ¥38 billion, respectively, were classified in Level 3. The amounts of unfunded commitments related to these investments at March 31, 2015 and 2016 were ¥25 billion and ¥30 billion, respectively. (3) Amounts represent items for which the Group elected the fair value option. |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the fiscal years ended March 31, 2015 and 2016: 2015 April 1, Gains Gains Transfers Transfers Purchases Sales Issuances Settlements March 31, 2015 Change in (losses) (6) (in billions of yen) Assets: Trading securities: Residential mortgage-backed securities 78 — (2) — — — — (33 ) — (16 ) 29 — Commercial mortgage-backed securities 91 — (2) — — — 2 (76 ) — (13 ) 4 — Corporate bonds and other 413 62 (2) — 4 (24 ) 561 (262 ) — (115 ) 639 47 Equity securities 60 13 (2) — — — 6 (18 ) — (1 ) 60 3 Derivatives, net (1) Interest rate contracts 17 (6 ) (2) — — 1 — — — 6 18 (1 ) Foreign exchange contracts 11 (3 ) (2) — — — — — — — 8 (2 ) Equity-related contracts 1 (12 ) (2) — — — — — — (3 ) (14 ) (12 ) Credit-related contracts 17 (19 ) (2) — — — — — — 1 (1 ) — Available-for-sale securities: Residential mortgage-backed securities 220 10 (3) (10 ) (4) — — 16 (21 ) — (49 ) 166 — Commercial mortgage-backed securities 161 4 (3) (2 ) (4) — — 77 (26 ) — (45 ) 169 — Japanese corporate bonds and other debt securities 170 (1 ) (3) 1 (4) — — 39 (8 ) — (46 ) 155 — Foreign corporate bonds and other debt securities 141 6 (3) (1 ) (4) — — — (2 ) — (59 ) 85 — Other investments 69 12 (3) — — — 2 (18 ) — (12 ) 53 8 Liabilities: Trading securities sold, not yet purchased — — (2) — — — 3 (3 ) — — — — Long-term debt 501 (5 ) (5) — 3 (2 ) — — 313 (233 ) 587 (4 ) 2016 April 1, Gains Gains Transfers Transfers Purchases Sales Issuances Settlements March 31, 2016 Change in (losses) (6) (in billions of yen) Assets: Trading securities: Other foreign government bonds — — (2) — — — 1 (1 ) — — — — Residential mortgage-backed securities 29 — (2) — — — — — — (8 ) 21 — Commercial mortgage-backed securities 4 — (2) — — — — — — (2 ) 2 — Corporate bonds and other 639 (43 ) (2) — 25 (34 ) 452 (192 ) — (127 ) 720 (38 ) Equity securities 60 9 (2) — — — 12 (22 ) — — 59 1 Derivatives, net (1) Interest rate contracts 18 (1 ) (2) — — — — — — 9 26 11 Foreign exchange contracts 8 (1 ) (2) — — — — — — — 7 (2 ) Equity-related contracts (14 ) 22 (2) — — — — — — (3 ) 5 14 Credit-related contracts (1 ) — (2) — — — — — — — (1 ) — Other contracts — 1 (2) — — — — — — — 1 1 Available-for-sale securities: Residential mortgage-backed securities 166 — (3) — (4) — — — (4 ) — (39 ) 123 — Commercial mortgage-backed securities 169 — (3) — (4) — — 102 (62 ) — (22 ) 187 — Japanese corporate bonds and other debt securities 155 (2 ) (3) — (4) — — 67 (3 ) — (43 ) 174 (4 ) Foreign corporate bonds and other debt securities 85 2 (3) (5) (4) 23 — 41 — — (38 ) 108 — Other investments 53 7 (3) — — — 5 (20 ) — (3 ) 42 (7 ) Liabilities: Trading securities sold, not yet purchased — — (2) — — — 5 (5 ) — — — — Long-term debt 587 18 (5) — 8 — (1 ) — 305 (258 ) 623 19 Notes: (1) Total Level 3 derivative exposures have been netted on the table for presentation purposes only. (2) Gains (losses) in Earnings are reported in Trading account gains (losses)—net, Foreign exchange gains (losses)—net or Other noninterest income (expenses). (3) Gains (losses) in Earnings are reported in Investment gains (losses)—net. (4) Gains (losses) in OCI are reported in Other comprehensive income (loss). (5) Gains (losses) in Earnings are reported in Other noninterest income (expenses). (6) Amounts represent total gains or losses recognized in earnings during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at March 31, 2015 and 2016. |
Quantitative Information About Level Three Fair Value Measurements | The following table presents information about significant unobservable inputs related to the MHFG Group’s material classes of Level 3 assets and liabilities at March 31, 2015 and 2016: 2015 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for ratios and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 195 Discounted cash flow Prepayment rate 2%–18% 7% Price-based Default rate 0%–1% 0% Recovery rate 100%–100% 100% Discount margin 11bps–490bps 63bps Commercial mortgage-backed securities 173 Discounted cash flow Price-based Discount margin 10bps–2,922bps 95bps Corporate bonds and other debt securities 879 Discounted cash flow Prepayment rate (1) 0%–25% 21% Price-based Default rate (1) 0%–5% 2% Recovery rate (1) 60%–71% 69% Discount margin (1) 9bps–1,220bps 112bps Discount margin (2) -96bps–4,342bps 106bps Derivatives, net: Interest rate contracts 18 Internal valuation model (3) IR – IR correlation 20%–100% Default rate (4) 0%–63% Foreign exchange contracts 8 Internal valuation model (3) FX – IR correlation 9%–52% FX – FX correlation 52%–52% FX volatility 11%–23% Default rate (4) 0%–63% Equity-related contracts (14) Internal valuation model (3) Equity – IR correlation 50%–50% Equity – FX correlation 55%–55% Equity volatility 17%–33% Credit-related contracts (1) Internal valuation model (3) Default rate 0%–50% Credit correlation 11%–100% Long-term debt 587 Internal valuation model (3) IR – IR correlation 20%–100% FX – IR correlation 9%–52% FX – FX correlation 52%–52% Equity – IR correlation 50%–50% Equity – FX correlation 55%–55% Equity volatility 16%–34% Default rate 0%–15% Credit correlation 16%–100% 2016 Products/Instruments Fair value Principal valuation technique Unobservable inputs Range of input values Weighted average (5) (in billions of yen, except for ratios and basis points) Trading securities and Available-for-sale securities: Residential mortgage-backed securities 144 Discounted cash flow Prepayment rate 3%–19% 7% Price-based Default rate 0%–2% 0% Recovery rate 100%–100% 100% Discount margin 13bps–180bps 60bps Commercial mortgage-backed securities 189 Discounted cash flow Price-based Discount margin 6bps–580bps 37bps Corporate bonds and other debt securities 1,002 Discounted cash flow Prepayment rate (1) 0%–21% 19% Price-based Default rate (1) 0%–2% 2% Recovery rate (1) 60%–69% 68% Discount margin (1) 11bps–1,115bps 151bps Discount margin (2) 10bps–3,850bps 454bps Derivatives, net: Interest rate contracts 26 Internal valuation model (3) IR – IR correlation 32%–100% Default rate (4) 0%–63% Foreign exchange contracts 7 Internal valuation model (3) FX – IR correlation 5%–50% FX – FX correlation 54%–54% Default rate (4) 0%–63% Equity-related contracts 5 Internal valuation model (3) Equity – IR correlation 30%–30% Equity – FX correlation 55%–55% Equity volatility 10%–40% Credit-related contracts (1) Internal valuation model (3) Default rate 0%–42% Credit correlation 29%–100% Long-term debt 623 Internal valuation model (3) IR – IR correlation 32%–100% FX – IR correlation 5%–50% FX – FX correlation 54%–54% Equity – IR correlation 30%–30% Equity – FX correlation 55%–55% Equity correlation 18%–100% Equity volatility 14%–39% Default rate 0%–5% Credit correlation 28%–100% Notes: (1) These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. (2) This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. (3) Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. (4) This input represents the counterparty default rate derived from the MHFG Group’s own internal credit analyses. (5) Weighted averages are calculated by weighting each input by the relative fair value of the respective financial instruments. IR = Interest rate FX = Foreign exchange |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | The following table shows the fair value hierarchy for these items as of March 31, 2015 and 2016: 2015 Total Level 1 Level 2 Level 3 Aggregate cost (in billions of yen) Assets: Loans 111 — — 111 193 Loans held-for-sale — — — — 39 Other investments 10 9 — 1 16 Premises and equipment—net 1 — — 1 8 Total assets measured at fair value on a nonrecurring basis 122 9 — 113 256 2016 Total Level 1 Level 2 Level 3 Aggregate cost (in billions of yen) Assets: Loans 124 — — 124 197 Loans held-for-sale 13 — 7 6 14 Other investments 1 — — 1 2 Premises and equipment—net — — — — 1 Goodwill — — — — 6 Total assets measured at fair value on a nonrecurring basis 138 — 7 131 220 |
Fair Value, by Balance Sheet Grouping | The following table shows the carrying amounts and fair values at March 31, 2015 and 2016, of certain financial instruments, excluding financial instruments which are carried at fair value on a recurring basis and those outside the scope of ASC 825 such as equity method investments as defined in ASC 323, “Investments—Equity Method and Joint Ventures” (“ASC 323”) and lease contracts as defined in ASC 840, “Leases” (“ASC 840”): 2015 Carrying Estimated fair value Total Level 1 Level 2 Level 3 (in billions of yen) Financial assets: Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions 42,467 42,467 1,152 41,315 — Investments 5,647 5,678 5,678 — — Loans, net of allowance for loan losses (Note) 77,458 78,603 — — 78,603 Financial liabilities: Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions 42,100 42,100 14,481 27,619 — Interest-bearing deposits 99,272 99,239 41,334 57,905 — Due to trust accounts 1,241 1,241 — 1,241 — Other short-term borrowings 1,583 1,583 — 1,583 — Long-term debt 13,819 14,030 — 13,271 759 2016 Carrying Estimated fair value Total Level 1 Level 2 Level 3 (in billions of yen) Financial assets: Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions 48,757 48,757 923 47,834 — Investments 4,819 4,873 4,873 — — Loans, net of allowance for loan losses (Note) 77,040 78,241 — — 78,241 Financial liabilities: Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions 39,908 39,908 17,223 22,685 — Interest-bearing deposits 100,228 100,234 46,207 54,027 — Due to trust accounts 4,467 4,467 — 4,467 — Other short-term borrowings 2,080 2,080 — 2,080 — Long-term debt 13,696 13,863 — 12,969 894 Note: Loans, net of allowance for loan losses include items measured at fair value on a nonrecurring basis. |
Offsetting of financial asset67
Offsetting of financial assets and financial liabilities (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Information of Offsetting of Financial Assets and Financial Liabilities | The following table provides information about the offsetting of financial assets and financial liabilities at March 31, 2015 and 2016. The table includes derivatives, repurchase and resale agreements, and securities lending and borrowing transactions that are subject to enforceable master netting arrangements or similar agreements irrespective of whether or not they are offset on the Group’s consolidated balance sheets. Amounts not offset on (3) Gross amounts recognized Gross amounts offset on the Net amounts presented on the (2) Financial instruments (4) Cash collateral Net (in billions of yen) 2015 Assets (1) Derivatives 12,679 — 12,679 (10,845 ) (662 ) 1,172 Receivables under resale agreements 8,506 — 8,506 (8,462 ) — 44 Receivables under securities borrowing transactions 4,007 — 4,007 (3,996 ) — 11 Total 25,192 — 25,192 (23,303 ) (662 ) 1,227 Liabilities (1) Derivatives 12,306 — 12,306 (10,706 ) (561 ) 1,039 Payables under repurchase agreements 19,494 — 19,494 (19,378 ) — 116 Payables under securities lending transactions 2,246 — 2,246 (2,242 ) — 4 Total 34,046 — 34,046 (32,326 ) (561 ) 1,159 2016 Assets (1) Derivatives 14,130 — 14,130 (12,167) (599) 1,364 Receivables under resale agreements 7,490 — 7,490 (7,461) — 29 Receivables under securities borrowing transactions 3,327 — 3,327 (3,318) — 9 Total 24,947 — 24,947 (22,946) (599) 1,402 Liabilities (1) Derivatives 13,652 — 13,652 (12,043) (748) 861 Payables under repurchase agreements 16,507 — 16,507 (16,464) — 43 Payables under securities lending transactions 2,538 — 2,538 (2,531) — 7 Total 32,697 — 32,697 (31,038) (748) 911 Notes: (1) Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter (“OTC”) and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. (2) Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. (3) Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. (4) For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. |
Repurchase agreements and sec68
Repurchase agreements and securities lending transactions accounted for as secured borrowings (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Gross Amounts of Liabilities Associated with Repurchase Agreements and Securities Lending Transactions, by Remaining Contractual Maturity | The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2016: Overnight and Up to 30 days 31-90 days Greater than 90 days Total (in billions of yen) Repurchase agreements 6,289 6,125 3,582 837 16,833 Securities lending transactions 1,909 700 — 236 2,845 Total 8,198 6,825 3,582 1,073 19,678 |
Gross Amounts of Liabilities Associated with Repurchase Agreements and Securities Lending Transactions by Class of Underlying Collateral | The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2016: Repurchase Securities lending (in billions of yen) Japanese government bonds and Japanese local government bonds 532 1,891 Foreign government bonds and foreign agency mortgage-backed securities 15,781 700 Commercial paper and corporate bonds 221 27 Equity securities 141 185 Other 158 42 Total (Note) 16,833 2,845 Note: Amounts exceeded the gross amounts recognized in Note 28 “Offsetting of financial assets and financial liabilities” by ¥633 billion, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Segment Reporting Information, by Segment | The information below for reportable segments is derived from the internal management reporting systems. Management does not use information on segments’ assets to allocate resources and assess performance and has not prepared information on segments’ assets. Accordingly, information on segments’ assets is not available. 2014 (1)(2) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 933.8 800.1 164.6 60.4 170.7 77.3 30.7 128.9 167.5 133.7 40.2 2.9 131.4 1,108.3 Net noninterest income (expenses) 407.4 398.2 31.6 38.0 135.4 55.8 21.7 139.8 (24.1 ) 9.2 108.1 283.9 127.6 927.0 Total 1,341.2 1,198.3 196.2 98.4 306.1 133.1 52.4 268.7 143.4 142.9 148.3 286.8 259.0 2,035.3 General and administrative Expenses 711.3 659.0 171.3 87.8 83.8 58.8 25.1 82.5 149.7 52.3 90.9 246.2 180.9 1,229.3 Others (56.1 ) — — — — — — — — (56.1 ) (2.9 ) — (2.7 ) (61.7 ) Net business profits (losses) 573.8 539.3 24.9 10.6 222.3 74.3 27.3 186.2 (6.3 ) 34.5 54.5 40.6 75.4 744.3 2015 (1)(3) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 1,087.3 934.9 213.4 77.6 179.5 99.6 33.3 147.1 184.4 152.4 39.4 1.8 0.9 1,129.4 Net noninterest income 598.4 560.6 48.7 53.7 128.0 79.8 27.4 164.9 58.1 37.8 122.6 335.8 61.5 1,118.3 Total 1,685.7 1,495.5 262.1 131.3 307.5 179.4 60.7 312.0 242.5 190.2 162.0 337.6 62.4 2,247.7 General and administrative Expenses 904.7 833.7 233.5 118.4 94.4 76.5 30.3 92.6 188.0 71.0 94.5 268.0 54.0 1,321.2 Others (43.2 ) — — — — — — — — (43.2 ) (3.7 ) — (2.7 ) (49.6 ) Net business profits 737.8 661.8 28.6 12.9 213.1 102.9 30.4 219.4 54.5 76.0 63.8 69.6 5.7 876.9 2016 (1) MHBK (Consolidated) MHTB (Consolidated) MHSC (Consolidated) Others MHFG (Consolidated) MHBK (Non-consolidated) Others Total Total Personal Retail Banking Corporate (Large Corporate Financial & Public Inter- national Trading and others (h) (i) (j) (k) Total (in billions of yen) Gross profits: Net interest income 959.4 830.1 214.8 75.7 173.0 97.5 32.5 175.5 61.1 129.3 36.1 5.4 2.8 1,003.7 Net noninterest income 675.3 633.7 45.0 53.1 143.7 77.5 31.8 185.1 97.5 41.6 130.7 343.8 68.1 1,217.9 Total 1,634.7 1,463.8 259.8 128.8 316.7 175.0 64.3 360.6 158.6 170.9 166.8 349.2 70.9 2,221.6 General and administrative Expenses 903.3 833.3 234.4 118.6 91.9 75.2 29.8 122.1 161.3 70.0 99.1 279.3 63.3 1,345.0 Others (22.1 ) — — — — — — — — (22.1 ) (4.2 ) — 2.5 (23.8 ) Net business profits (losses) 709.3 630.5 25.4 10.2 224.8 99.8 34.5 238.5 (2.7 ) 78.8 63.5 69.9 10.1 852.8 Notes: (1) “Others (h)” and “Others (k)” include the elimination of transactions between consolidated subsidiaries. (2) As for the fiscal year ended March 31, 2014, “MHBK (Non-consolidated)” represents the sum of the performance of the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters, while “Others (h)” includes the performance of the former MHBK for the first quarter, in light of the merger of the former MHBK and the former MHCB conducted in July 2013. (3) Beginning on April 1, 2015, new allocation methods have been applied to the calculation of “Gross profits” and “General and administrative expenses” for reportable segments of MHBK. Figures for the fiscal year ended March 31, 2015 have been reclassified under the new allocation methods. Aggregation of MHBK and MHCB 2014 MHBK and MHCB Total Personal Retail Corporate (Large Corporate Financial & Public (e) International (f) Trading (in billions of yen) Gross profits: Net interest income 923.8 218.0 80.7 173.3 102.5 35.5 128.9 184.9 Net noninterest income (expenses) 460.3 39.8 49.8 140.4 70.1 24.1 139.8 (3.7 ) Total 1,384.1 257.8 130.5 313.7 172.6 59.6 268.7 181.2 General and administrative expenses 791.1 226.4 116.7 87.2 77.7 29.0 82.5 171.6 Others — — — — — — — — Net business profits 593.0 31.4 13.8 226.5 94.9 30.6 186.2 9.6 Note: The former MHBK and the former MHCB merged on July 1, 2013. Figures for the fiscal year ended March 31, 2014 represent the simple aggregation of the performance of the former MHBK and the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters. |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | A reconciliation of total net business profits under the internal management reporting systems for the fiscal years ended March 31, 2014, 2015 and 2016 presented above to Income before income tax expense shown on the consolidated statements of income is as follows: 2014 2015 2016 (in billions of yen) Net business profits 744.3 876.9 852.8 U.S. GAAP adjustments (325.4 ) 230.8 201.3 (Provision) credit for loan losses 126.2 60.2 (34.6 ) Net gains (losses) related to equity investments 178.7 160.1 188.4 Non-recurring personnel expense (14.8 ) (8.0 ) (3.9 ) Gains on disposal of premises and equipment 10.5 2.8 10.2 (Provision) credit for losses on off-balance-sheet instruments (12.1 ) 2.8 16.4 Others—net 18.9 (57.9 ) (34.0 ) Income before income tax expense 726.3 1,267.7 1,196.6 |
Foreign activities (Tables)
Foreign activities (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | The following table presents consolidated income statement and total assets information by major geographic area. Foreign activities are defined as business transactions that involve customers residing outside of Japan. However, as the MHFG Group’s operations are highly integrated globally, estimates and assumptions have been made for an allocation among the geographic areas. Americas Japan United Others Europe Asia/Oceania and others Total (in billions of yen) Fiscal year ended March 31, 2014: Total revenue (1) 1,783.9 273.8 76.1 152.9 218.9 2,505.6 Total expenses (2) 1,397.3 129.1 15.5 96.3 141.1 1,779.3 Income before income tax expense 386.6 144.7 60.6 56.6 77.8 726.3 Net income 198.9 129.9 59.8 54.0 57.6 500.2 Total assets at end of fiscal year 124,557.7 24,014.8 3,513.0 10,784.5 12,829.3 175,699.3 Fiscal year ended March 31, 2015: Total revenue (1) 2,396.9 324.1 102.4 211.8 223.7 3,258.9 Total expenses (2) 1,459.9 210.8 24.3 133.8 162.4 1,991.2 Income before income tax expense 937.0 113.3 78.1 78.0 61.3 1,267.7 Net income 565.6 79.7 76.2 74.3 34.4 830.2 Total assets at end of fiscal year 127,473.5 31,074.9 4,871.0 10,880.6 15,819.7 190,119.7 Fiscal year ended March 31, 2016: Total revenue (1) 2,288.5 434.4 45.7 187.5 428.0 3,384.1 Total expenses (2) 1,534.2 282.6 28.7 126.2 215.8 2,187.5 Income before income tax expense 754.3 151.8 17.0 61.3 212.2 1,196.6 Net income 464.7 136.9 15.4 51.1 182.0 850.1 Total assets at end of fiscal year 133,162.4 28,985.3 4,227.5 11,616.9 15,823.4 193,815.5 Notes: (1) Total revenue is comprised of Interest and dividend income and Noninterest income. (2) Total expenses are comprised of Interest expense, Provision (credit) for loan losses and Noninterest expenses. |
Mizuho Financial Group, Inc.,71
Mizuho Financial Group, Inc., parent company (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Condensed Financial Information of Parent Company Only, Statements of Financial Condition | Condensed balance sheets 2015 2016 (in millions of yen) Assets: Cash and due from banks 223 137 Interest-bearing deposits in other banks 12,506 16,305 Investments in subsidiaries and affiliated companies 8,857,561 8,840,003 Other 566,947 1,025,108 Total 9,437,237 9,881,553 Liabilities and shareholders’ equity: Short-term borrowings 1,200,135 1,186,345 Long-term debt 248,800 584,518 Other liabilities 57,964 96,139 Shareholders’ equity 7,930,338 8,014,551 Total 9,437,237 9,881,553 |
Condensed Financial Information of Parent Company Only, Statement of Income | Condensed statements of income 2014 2015 2016 (in millions of yen) Income: Dividends from subsidiaries and affiliated companies: Banking subsidiaries 282,022 316,035 272,070 Non-banking subsidiaries and affiliated companies 3,108 28,633 20,814 Management fees from subsidiaries 31,146 32,163 39,267 Other income 33,894 38,107 11,485 Total 350,170 414,938 343,636 Expenses: Operating expenses 22,592 26,855 31,063 Interest expense 14,608 8,937 11,914 Other expense 5,724 2,693 9,203 Total 42,924 38,485 52,180 Equity in undistributed net income of subsidiaries 191,865 427,037 559,553 Income before income tax expense 499,111 803,490 851,009 Income tax expense 627 442 517 Net income 498,484 803,048 850,492 Note: Certain income for the fiscal year ended March 31, 2014 has been reclassified to conform to the current year’s presentation. |
Condensed Financial Information of Parent Company Only, Statements of Cash Flows | Condensed statements of cash flows 2014 2015 2016 (in millions of yen) Cash flows from operating activities: Net income 498,484 803,048 850,492 Adjustments and other (222,940 ) (460,230 ) (546,946 ) Net cash provided by operating activities 275,544 342,818 303,546 Cash flows from investing activities: Net change in loans — (150,000 ) (479,948 ) Purchases of premises and equipment (4,052 ) (159,670 ) (165 ) Net change in other investing activities 6,683 3,294 (377 ) Net cash provided by (used in) investing activities 2,631 (306,376 ) (480,490 ) Cash flows from financing activities: Net change in short-term borrowings (90,000 ) 130,000 (10,000 ) Proceeds from issuance of long-term debt — 150,000 479,948 Repayment of long-term debt — (141,200 ) (98,800 ) Proceeds from issuance of common stock — 6 5 Purchases of treasury stock (37,013 ) (12 ) (13 ) Dividends paid (152,163 ) (176,186 ) (195,283 ) Net change in other financing activities 968 1,006 1,001 Net cash provided by (used in) financing activities (278,208 ) (36,386 ) 176,858 Net increase (decrease) in cash and due from banks (33 ) 56 (86 ) Cash and due from banks at beginning of fiscal year 200 167 223 Cash and due from banks at end of fiscal year 167 223 137 |
Subsequent events (Tables)
Subsequent events (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Details of Redeemed Preferred Securities | The following table describes the details of the redeemed preferred securities: Issuer Aggregate Reason for the redemption (in millions) Mizuho Capital Investment (USD) 1 Limited $600 Arrival of optional redemption date Mizuho Capital Investment (JPY) 1 Limited ¥ 400,000 Arrival of optional redemption date |
Basis of Presentation and Sum73
Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2016 | |
Minimum | |
Significant Accounting Policies [Line Items] | |
Period in which obligors generally determined to be substantially bankrupt, past due (in months) | 6 months |
Minimum | Impaired loans | |
Significant Accounting Policies [Line Items] | |
Number of days past due | 90 days |
Software and Software Development Costs | Minimum | |
Significant Accounting Policies [Line Items] | |
Estimated useful life | 5 years |
Software and Software Development Costs | Maximum | |
Significant Accounting Policies [Line Items] | |
Estimated useful life | 10 years |
Shinko Securities Company Limited | Customer relationships | |
Significant Accounting Policies [Line Items] | |
Weighted-average amortization period | 16 years |
Basis of Presentation and Sum74
Basis of Presentation and Summary of Significant Accounting Policies (Useful Lives of Premises and Equipment) (Detail) | 12 Months Ended |
Mar. 31, 2016 | |
Buildings | Minimum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 3 years |
Buildings | Maximum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 50 years |
Equipment and furniture | Minimum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 2 years |
Equipment and furniture | Maximum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 20 years |
Leasehold improvements | Minimum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 3 years |
Leasehold improvements | Maximum | |
Property, Plant, and Equipment Disclosure [Line Items] | |
Years | 50 years |
Investments (Amortized Cost Gro
Investments (Amortized Cost Gross Unrealized Gains and Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | ¥ 23,180,206 | ¥ 24,298,924 | |
Gross unrealized gains, available-for-sale securities | 2,282,634 | 2,783,690 | |
Gross unrealized losses, available-for-sale securities | 10,315 | 11,904 | |
Fair value, available-for-sale securities | 25,452,525 | 27,070,710 | |
Amortized cost, held-to-maturity securities | 4,818,961 | 5,647,341 | |
Gross unrealized gains, held-to-maturity securities | 60,514 | 31,260 | |
Gross unrealized losses, held-to-maturity securities | 6,266 | 794 | |
Fair value, held-to-maturity securities | 4,873,209 | 5,677,807 | |
Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | [1] | 920,375 | 806,877 |
Gross unrealized gains, available-for-sale securities | [1] | 29,804 | 17,280 |
Gross unrealized losses, available-for-sale securities | [1],[2] | 1,293 | 2,427 |
Fair value, available-for-sale securities | [1] | 948,886 | 821,730 |
Amortized cost, held-to-maturity securities | [3] | 1,058,929 | 1,287,215 |
Gross unrealized gains, held-to-maturity securities | [3] | 3,894 | 2,259 |
Gross unrealized losses, held-to-maturity securities | [3] | 6,266 | 621 |
Fair value, held-to-maturity securities | [3] | 1,056,557 | 1,288,853 |
Debt securities | Japanese government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 15,672,171 | 17,391,144 | |
Gross unrealized gains, available-for-sale securities | 91,420 | 25,110 | |
Gross unrealized losses, available-for-sale securities | 1,015 | 2,587 | |
Fair value, available-for-sale securities | 15,762,576 | 17,413,667 | |
Amortized cost, held-to-maturity securities | 3,760,032 | 4,360,126 | |
Gross unrealized gains, held-to-maturity securities | 56,620 | 29,001 | |
Gross unrealized losses, held-to-maturity securities | 173 | ||
Fair value, held-to-maturity securities | 3,816,652 | 4,388,954 | |
Debt securities | Japanese local government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 234,587 | 234,421 | |
Gross unrealized gains, available-for-sale securities | 6,097 | 4,183 | |
Gross unrealized losses, available-for-sale securities | 3 | 16 | |
Fair value, available-for-sale securities | 240,681 | 238,588 | |
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 436,792 | 116,408 | |
Gross unrealized gains, available-for-sale securities | 1,720 | 1,259 | |
Gross unrealized losses, available-for-sale securities | 32 | 454 | |
Fair value, available-for-sale securities | 438,480 | 117,213 | |
Debt securities | Other foreign government bonds | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 939,808 | 961,684 | |
Gross unrealized gains, available-for-sale securities | 2,740 | 4,437 | |
Gross unrealized losses, available-for-sale securities | 153 | 237 | |
Fair value, available-for-sale securities | 942,395 | 965,884 | |
Debt securities | Residential mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 206,882 | 260,456 | |
Gross unrealized gains, available-for-sale securities | 4,254 | 4,426 | |
Gross unrealized losses, available-for-sale securities | 878 | 1,408 | |
Fair value, available-for-sale securities | 210,258 | 263,474 | |
Debt securities | Commercial mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 186,525 | 169,342 | |
Gross unrealized gains, available-for-sale securities | 788 | 889 | |
Gross unrealized losses, available-for-sale securities | 523 | 961 | |
Fair value, available-for-sale securities | 186,790 | 169,270 | |
Debt securities | Japanese corporate bonds and other debt securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | [4] | 2,079,599 | 1,930,054 |
Gross unrealized gains, available-for-sale securities | [4] | 15,688 | 13,366 |
Gross unrealized losses, available-for-sale securities | [4] | 420 | 1,496 |
Fair value, available-for-sale securities | [4] | 2,094,867 | 1,941,924 |
Debt securities | Foreign corporate bonds and other debt securities | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | [5] | 839,981 | 730,910 |
Gross unrealized gains, available-for-sale securities | [5] | 8,744 | 12,026 |
Gross unrealized losses, available-for-sale securities | [5] | 1,421 | 1,133 |
Fair value, available-for-sale securities | [5] | 847,304 | 741,803 |
Equity securities (marketable) | |||
Schedule of Investments [Line Items] | |||
Amortized cost, available-for-sale securities | 1,663,486 | 1,697,628 | |
Gross unrealized gains, available-for-sale securities | 2,121,379 | 2,700,714 | |
Gross unrealized losses, available-for-sale securities | 4,577 | 1,185 | |
Fair value, available-for-sale securities | ¥ 3,780,288 | ¥ 4,397,157 | |
[1] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥87,327 million and ¥734,403 million, respectively, at March 31, 2015, and ¥168,604 million and ¥780,282 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Government National Mortgage Association ("Ginnie Mae") securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. | ||
[2] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥86,973 million and ¥7,968 million, respectively, at March 31, 2015, and ¥69,805 million and ¥4,307 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. | ||
[3] | All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. | ||
[4] | Other debt securities presented in the above table primarily consist of certificates of deposit ("CDs") and asset-backed securities ("ABS"), of which the total fair values were ¥165,602 million at March 31, 2015, and ¥158,446 million at March 31, 2016. | ||
[5] | Other debt securities presented in the above table primarily consist of CDs, ABS, and collateralized loan obligations ("CLO"), of which the total fair values were ¥142,543 million at March 31, 2015, and ¥201,952 million at March 31, 2016. |
Investments (Amortized Cost G76
Investments (Amortized Cost Gross Unrealized Gains and Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 25,452,525 | ¥ 27,070,710 | |
Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | [1] | 948,886 | 821,730 |
Japanese government and corporate debt securities | Certificates of deposit ("CDs") and Asset-Backed Securities ("ABS") | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 158,446 | 165,602 | |
Foreign government and corporate debt securities | CDs, ABS, and collateral loan obligations ("CLO") | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 201,952 | 142,543 | |
U.S. agency securities | Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | 168,604 | 87,327 | |
Japanese agency securities | Debt securities | Agency mortgage-backed securities | |||
Schedule of Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 780,282 | ¥ 734,403 | |
[1] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥87,327 million and ¥734,403 million, respectively, at March 31, 2015, and ¥168,604 million and ¥780,282 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Government National Mortgage Association ("Ginnie Mae") securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Debt Securities by Contractual Maturity) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | ¥ 4,134,346 | ||
Due after one year through five years, amortized cost | 13,797,665 | ||
Due after five years through ten years,amortized cost | 2,234,063 | ||
Due after ten years, amortized cost | 1,350,646 | ||
Total | 21,516,720 | ||
Due in one year or less, amortized cost | 700,001 | ||
Due after one year through five years, amortized cost | 2,580,182 | ||
Due after five years through ten years, amortized cost | 479,849 | ||
Due after ten years, amortized cost | 1,058,929 | ||
Amortized cost, held-to-maturity securities | 4,818,961 | ¥ 5,647,341 | |
Due in one year or less, fair value | 4,137,481 | ||
Due after one year through five years, fair value | 13,872,258 | ||
Due after five years through ten years, fair value | 2,276,234 | ||
Due after ten years, fair value | 1,386,264 | ||
Total | 21,672,237 | ||
Due in one year or less, fair value | 701,875 | ||
Due after one year through five years, fair value | 2,604,949 | ||
Due after five years through ten years, fair value | 509,828 | ||
Due after ten years, fair value | 1,056,557 | ||
Total | 4,873,209 | 5,677,807 | |
Debt securities | Japanese government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 2,431,841 | ||
Due after one year through five years, amortized cost | 11,699,544 | ||
Due after five years through ten years,amortized cost | 1,540,786 | ||
Total | 15,672,171 | ||
Due in one year or less, amortized cost | 700,001 | ||
Due after one year through five years, amortized cost | 2,580,182 | ||
Due after five years through ten years, amortized cost | 479,849 | ||
Amortized cost, held-to-maturity securities | 3,760,032 | 4,360,126 | |
Due in one year or less, fair value | 2,433,342 | ||
Due after one year through five years, fair value | 11,757,721 | ||
Due after five years through ten years, fair value | 1,571,513 | ||
Total | 15,762,576 | ||
Due in one year or less, fair value | 701,875 | ||
Due after one year through five years, fair value | 2,604,949 | ||
Due after five years through ten years, fair value | 509,828 | ||
Total | 3,816,652 | 4,388,954 | |
Debt securities | Agency mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due after ten years, amortized cost | 920,375 | ||
Total | 920,375 | ||
Due after ten years, amortized cost | 1,058,929 | ||
Amortized cost, held-to-maturity securities | [1] | 1,058,929 | 1,287,215 |
Due after ten years, fair value | 948,886 | ||
Total | 948,886 | ||
Due after ten years, fair value | 1,056,557 | ||
Total | [1] | 1,056,557 | ¥ 1,288,853 |
Debt securities | Japanese local government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 20,033 | ||
Due after one year through five years, amortized cost | 95,266 | ||
Due after five years through ten years,amortized cost | 118,603 | ||
Due after ten years, amortized cost | 685 | ||
Total | 234,587 | ||
Due in one year or less, fair value | 20,051 | ||
Due after one year through five years, fair value | 96,515 | ||
Due after five years through ten years, fair value | 123,289 | ||
Due after ten years, fair value | 826 | ||
Total | 240,681 | ||
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 327,513 | ||
Due after five years through ten years,amortized cost | 109,279 | ||
Total | 436,792 | ||
Due in one year or less, fair value | 327,482 | ||
Due after five years through ten years, fair value | 110,998 | ||
Total | 438,480 | ||
Debt securities | Other foreign government bonds | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 776,593 | ||
Due after one year through five years, amortized cost | 155,782 | ||
Due after five years through ten years,amortized cost | 7,433 | ||
Total | 939,808 | ||
Due in one year or less, fair value | 777,144 | ||
Due after one year through five years, fair value | 157,516 | ||
Due after five years through ten years, fair value | 7,735 | ||
Total | 942,395 | ||
Debt securities | Residential mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due after ten years, amortized cost | 206,882 | ||
Total | 206,882 | ||
Due after ten years, fair value | 210,258 | ||
Total | 210,258 | ||
Debt securities | Commercial mortgage-backed securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 4,585 | ||
Due after one year through five years, amortized cost | 126,340 | ||
Due after five years through ten years,amortized cost | 55,600 | ||
Total | 186,525 | ||
Due in one year or less, fair value | 4,591 | ||
Due after one year through five years, fair value | 126,265 | ||
Due after five years through ten years, fair value | 55,934 | ||
Total | 186,790 | ||
Debt securities | Japanese corporate bonds and other debt securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 378,794 | ||
Due after one year through five years, amortized cost | 1,213,539 | ||
Due after five years through ten years,amortized cost | 344,576 | ||
Due after ten years, amortized cost | 142,690 | ||
Total | 2,079,599 | ||
Due in one year or less, fair value | 379,118 | ||
Due after one year through five years, fair value | 1,220,385 | ||
Due after five years through ten years, fair value | 348,967 | ||
Due after ten years, fair value | 146,397 | ||
Total | 2,094,867 | ||
Debt securities | Foreign corporate bonds and other debt securities | |||
Investments Classified by Contractual Maturity Date [Line Items] | |||
Due in one year or less, amortized cost | 194,987 | ||
Due after one year through five years, amortized cost | 507,194 | ||
Due after five years through ten years,amortized cost | 57,786 | ||
Due after ten years, amortized cost | 80,014 | ||
Total | 839,981 | ||
Due in one year or less, fair value | 195,753 | ||
Due after one year through five years, fair value | 513,856 | ||
Due after five years through ten years, fair value | 57,798 | ||
Due after ten years, fair value | 79,897 | ||
Total | ¥ 847,304 | ||
[1] | All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. |
Investments - Additional Inform
Investments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Gain (Loss) on Investments [Line Items] | |||
Equity method Investments, carrying value | ¥ 258,180 | ¥ 194,188 | |
Held-to-maturity Securities | |||
Gain (Loss) on Investments [Line Items] | |||
Impairment loss on securities | ¥ 0 | 0 | ¥ 0 |
Orient Corporation | |||
Gain (Loss) on Investments [Line Items] | |||
Percentage of proportionate share to the total outstanding common shares | 49.00% | ||
Equity securities (marketable) | |||
Gain (Loss) on Investments [Line Items] | |||
Equity method Investments, carrying value | ¥ 124,830 | 84,183 | |
Equity method Investments, aggregated market values | ¥ 277,508 | ¥ 121,198 |
Investments (Other-Than-Tempora
Investments (Other-Than-Temporary Impairment on Available-for-Sale Securities) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Gain (Loss) on Investments [Line Items] | |||
Other-than-temporary impairment on available-for-sale securities | ¥ 38,061 | ¥ 1,068 | ¥ 5,344 |
Debt securities | |||
Gain (Loss) on Investments [Line Items] | |||
Other-than-temporary impairment on available-for-sale securities | 4,020 | 450 | 1,151 |
Equity securities | |||
Gain (Loss) on Investments [Line Items] | |||
Other-than-temporary impairment on available-for-sale securities | ¥ 34,041 | ¥ 618 | ¥ 4,193 |
Investments (Gross Unrealized L
Investments (Gross Unrealized Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities Aggregated by Length of Time that Individual Securities have been in Continuous Unrealized Loss Position (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | ¥ 2,753,127 | ¥ 6,148,946 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 7,090 | 4,509 | |
12 months or more Fair value, available-for-sale securities | 237,627 | 507,241 | |
12 months or more Gross unrealized losses, available-for-sale securities | 3,225 | 7,395 | |
Total Fair value, available-for-sale securities | 2,990,754 | 6,656,187 | |
Total Gross unrealized losses, available-for-sale securities | 10,315 | 11,904 | |
Less than 12 months, Fair value, held-to-maturity securities | 394,673 | 455,298 | |
Less than 12 months Gross unrealized losses, held-to-maturity securities | 5,384 | 794 | |
12 months or more Fair value, held-to-maturity securities | 101,892 | ||
12 months or more Gross unrealized losses, held-to-maturity securities | 882 | ||
Total Fair value, held-to-maturity securities | 496,565 | 455,298 | |
Total Gross unrealized losses, held-to-maturity securities | 6,266 | 794 | |
Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | [1] | 15,965 | 7,968 |
Less than 12 months Gross unrealized losses, available-for-sale securities | [1] | 86 | 47 |
12 months or more Fair value, available-for-sale securities | [1] | 58,147 | 86,973 |
12 months or more Gross unrealized losses, available-for-sale securities | [1] | 1,207 | 2,380 |
Total Fair value, available-for-sale securities | [1] | 74,112 | 94,941 |
Total Gross unrealized losses, available-for-sale securities | [1],[2] | 1,293 | 2,427 |
Less than 12 months, Fair value, held-to-maturity securities | [3] | 394,673 | 355,560 |
Less than 12 months Gross unrealized losses, held-to-maturity securities | [3] | 5,384 | 621 |
12 months or more Fair value, held-to-maturity securities | [3] | 101,892 | |
12 months or more Gross unrealized losses, held-to-maturity securities | [3] | 882 | |
Total Fair value, held-to-maturity securities | [3] | 496,565 | 355,560 |
Total Gross unrealized losses, held-to-maturity securities | [3] | 6,266 | 621 |
Debt securities | Japanese government bonds | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 1,531,400 | 5,646,840 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 692 | 1,739 | |
12 months or more Fair value, available-for-sale securities | 74,427 | 211,512 | |
12 months or more Gross unrealized losses, available-for-sale securities | 323 | 848 | |
Total Fair value, available-for-sale securities | 1,605,827 | 5,858,352 | |
Total Gross unrealized losses, available-for-sale securities | 1,015 | 2,587 | |
Less than 12 months, Fair value, held-to-maturity securities | 99,738 | ||
Less than 12 months Gross unrealized losses, held-to-maturity securities | 173 | ||
Total Fair value, held-to-maturity securities | 99,738 | ||
Total Gross unrealized losses, held-to-maturity securities | 173 | ||
Debt securities | Japanese local government bonds | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 3,434 | 3,579 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 3 | 8 | |
12 months or more Fair value, available-for-sale securities | 11,944 | ||
12 months or more Gross unrealized losses, available-for-sale securities | 8 | ||
Total Fair value, available-for-sale securities | 3,434 | 15,523 | |
Total Gross unrealized losses, available-for-sale securities | 3 | 16 | |
Debt securities | U.S. Treasury bonds and federal agency securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 315,425 | 45,858 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 32 | 454 | |
Total Fair value, available-for-sale securities | 315,425 | 45,858 | |
Total Gross unrealized losses, available-for-sale securities | 32 | 454 | |
Debt securities | Other foreign government bonds | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 225,493 | 127,535 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 139 | 204 | |
12 months or more Fair value, available-for-sale securities | 225 | 10,421 | |
12 months or more Gross unrealized losses, available-for-sale securities | 14 | 33 | |
Total Fair value, available-for-sale securities | 225,718 | 137,956 | |
Total Gross unrealized losses, available-for-sale securities | 153 | 237 | |
Debt securities | Residential mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 2,417 | ||
Less than 12 months Gross unrealized losses, available-for-sale securities | 3 | ||
12 months or more Fair value, available-for-sale securities | 39,984 | 51,897 | |
12 months or more Gross unrealized losses, available-for-sale securities | 875 | 1,408 | |
Total Fair value, available-for-sale securities | 42,401 | 51,897 | |
Total Gross unrealized losses, available-for-sale securities | 878 | 1,408 | |
Debt securities | Commercial mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 40,471 | 23,468 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 300 | 394 | |
12 months or more Fair value, available-for-sale securities | 22,465 | 19,238 | |
12 months or more Gross unrealized losses, available-for-sale securities | 223 | 567 | |
Total Fair value, available-for-sale securities | 62,936 | 42,706 | |
Total Gross unrealized losses, available-for-sale securities | 523 | 961 | |
Debt securities | Japanese corporate bonds and other debt securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 360,782 | 270,877 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 348 | 478 | |
12 months or more Fair value, available-for-sale securities | 20,109 | 54,615 | |
12 months or more Gross unrealized losses, available-for-sale securities | 72 | 1,018 | |
Total Fair value, available-for-sale securities | 380,891 | 325,492 | |
Total Gross unrealized losses, available-for-sale securities | [4] | 420 | 1,496 |
Debt securities | Foreign corporate bonds and other debt securities | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 186,478 | 11,496 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 972 | 29 | |
12 months or more Fair value, available-for-sale securities | 22,090 | 60,491 | |
12 months or more Gross unrealized losses, available-for-sale securities | 449 | 1,104 | |
Total Fair value, available-for-sale securities | 208,568 | 71,987 | |
Total Gross unrealized losses, available-for-sale securities | [5] | 1,421 | 1,133 |
Equity securities (marketable) | |||
Gain (Loss) on Investments [Line Items] | |||
Less than 12 months, Fair value, available-for-sale securities | 71,262 | 11,325 | |
Less than 12 months Gross unrealized losses, available-for-sale securities | 4,515 | 1,156 | |
12 months or more Fair value, available-for-sale securities | 180 | 150 | |
12 months or more Gross unrealized losses, available-for-sale securities | 62 | 29 | |
Total Fair value, available-for-sale securities | 71,442 | 11,475 | |
Total Gross unrealized losses, available-for-sale securities | ¥ 4,577 | ¥ 1,185 | |
[1] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥86,973 million and ¥7,968 million, respectively, at March 31, 2015, and ¥69,805 million and ¥4,307 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. | ||
[2] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥87,327 million and ¥734,403 million, respectively, at March 31, 2015, and ¥168,604 million and ¥780,282 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Government National Mortgage Association ("Ginnie Mae") securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. | ||
[3] | All Agency mortgage-backed securities presented in the above table are Ginnie Mae securities. | ||
[4] | Other debt securities presented in the above table primarily consist of certificates of deposit ("CDs") and asset-backed securities ("ABS"), of which the total fair values were ¥165,602 million at March 31, 2015, and ¥158,446 million at March 31, 2016. | ||
[5] | Other debt securities presented in the above table primarily consist of CDs, ABS, and collateralized loan obligations ("CLO"), of which the total fair values were ¥142,543 million at March 31, 2015, and ¥201,952 million at March 31, 2016. |
Investments (Gross Unrealized81
Investments (Gross Unrealized Losses and Fair Value of Available-for-Sale and Held-to-Maturity Securities Aggregated by Length of Time that Individual Securities have been in Continuous Unrealized Loss Position (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Gain (Loss) on Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 2,990,754 | ¥ 6,656,187 | |
Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Fair value, available-for-sale securities | [1] | 74,112 | 94,941 |
U.S. agency securities | Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Fair value, available-for-sale securities | 69,805 | 86,973 | |
Japanese agency securities | Debt securities | Agency mortgage-backed securities | |||
Gain (Loss) on Investments [Line Items] | |||
Fair value, available-for-sale securities | ¥ 4,307 | ¥ 7,968 | |
[1] | Agency mortgage-backed securities presented in the above table consist of U.S. agency securities and Japanese agency securities, of which the fair values were ¥86,973 million and ¥7,968 million, respectively, at March 31, 2015, and ¥69,805 million and ¥4,307 million, respectively, at March 31, 2016. U.S. agency securities primarily consist of Ginnie Mae securities, which are guaranteed by the United States government. All Japanese agency securities are mortgage-backed securities issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. |
Investments (Realized Gains (Lo
Investments (Realized Gains (Losses) on Sales of Available-for-Sale Securities) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Gross realized gains | ¥ 297,344 | ¥ 220,250 | ¥ 231,955 |
Gross realized losses | (45,376) | (14,670) | (29,387) |
Net realized gains (losses) on sales of available-for-sale securities | ¥ 251,968 | ¥ 205,580 | ¥ 202,568 |
Investments (Composition of Oth
Investments (Composition of Other Investments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Schedule of Cost-method Investments [Line Items] | ||
Equity method investments | ¥ 258,180 | ¥ 194,188 |
Investments held by consolidated investment companies | 42,045 | 53,061 |
Other equity interests | 313,221 | 450,438 |
Total | ¥ 613,446 | ¥ 697,687 |
Loans (Loans Outstanding by Dom
Loans (Loans Outstanding by Domicile and Industry of Borrower) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [1] | ¥ 77,722,525 | ¥ 78,211,691 |
Less: Unearned income and deferred loan fees-net | 167,156 | 163,415 | |
Loans outstanding | 77,555,369 | 78,048,276 | |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 52,572,432 | 54,009,891 | |
Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 8,344,808 | 8,224,361 | |
Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 7,733,513 | 7,353,826 | |
Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 4,655,704 | 4,272,968 | |
Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 5,408,850 | 5,586,533 | |
Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,267,902 | 3,156,855 | |
Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,632,481 | 3,852,820 | |
Domestic | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,395,784 | 4,611,900 | |
Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [2] | 4,619,336 | 5,079,922 |
Domestic | Mortgage loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 10,589,646 | 11,021,956 | |
Domestic | Other individual loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 924,408 | 848,750 | |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 25,150,093 | 24,201,800 | |
Foreign | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 6,382,449 | 6,077,144 | |
Foreign | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 1,174,665 | 1,010,704 | |
Foreign | Commercial and industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 17,319,284 | 16,688,090 | |
Foreign | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [2] | ¥ 273,695 | ¥ 425,862 |
[1] | Amounts represent loan balances before deducting unearned income and deferred loan fees. | ||
[2] | Other industries of Domestic and Other of Foreign include trade receivables and lease receivables of consolidated VIEs. |
Loans - Additional Information
Loans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net losses on sales of loans | ¥ 1,752 | ¥ 33,291 | ¥ 2,041 |
Impaired Financing Receivables with No Related Allowance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans partially charged off | 31,933 | 25,980 | |
Unrealized losses related to recording loans held for sale at the lower of cost or fair value | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net losses on sales of loans, amount attributable to unrealized losses related to recording loans held for sale at the lower of cost or fair value | ¥ 810 | ¥ 34,262 | ¥ 1,510 |
Loans (Credit Quality Indicator
Loans (Credit Quality Indicators of Financing Receivables) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [1] | ¥ 77,722,525 | ¥ 78,211,691 |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 52,572,432 | 54,009,891 | |
Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 8,344,808 | 8,224,361 | |
Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 7,733,513 | 7,353,826 | |
Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 4,655,704 | 4,272,968 | |
Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 5,408,850 | 5,586,533 | |
Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,267,902 | 3,156,855 | |
Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,632,481 | 3,852,820 | |
Domestic | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,395,784 | 4,611,900 | |
Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [2] | 4,619,336 | 5,079,922 |
Domestic | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 11,514,054 | 11,870,706 | |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 25,150,093 | 24,201,800 | |
Foreign | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 6,382,449 | 6,077,144 | |
Foreign | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 1,174,665 | 1,010,704 | |
Financing Receivables Not Impaired | Normal obligors | A-B | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 39,473,402 | 39,530,819 | |
Financing Receivables Not Impaired | Normal obligors | C-D | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 17,892,639 | 17,520,649 | |
Financing Receivables Not Impaired | Normal obligors | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 12,115,160 | 12,464,970 |
Financing Receivables Not Impaired | Normal obligors | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 5,749,767 | 6,111,430 |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 23,933,055 | 24,377,262 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 4,859,256 | 4,663,535 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,956,798 | 3,331,659 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,611,296 | 2,298,532 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,240,228 | 2,261,669 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,410,967 | 2,310,918 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,719,047 | 2,986,436 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,181,241 | 4,505,893 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | A-B | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 1,954,222 | 2,018,620 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 12,144,508 | 12,274,306 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,681,958 | 2,607,651 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,709,617 | 2,943,178 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 1,674,328 | 1,566,359 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 2,552,552 | 2,695,642 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 695,697 | 674,273 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 881,405 | 830,410 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 4,047 | 6,007 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 685,258 | 706,882 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | C-D | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 259,646 | 243,904 | |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 12,106,778 | 12,456,542 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 103,343 | 109,615 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 601,251 | 600,856 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 195,140 | 201,354 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 223,677 | 237,050 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 86,094 | 89,258 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 2,234 | 2,360 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 3,501 | 3,326 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Retail | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 10,891,538 | 11,212,723 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 2,616,911 | 2,950,662 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 148,102 | 198,621 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 157,057 | 165,660 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 2,380 | 4,150 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 57,865 | 53,691 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 380 | 422 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 3,788 | 4,169 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 210,496 | 100,000 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 1,929,712 | 2,290,419 |
Financing Receivables Not Impaired | Normal obligors | Domestic | Other | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 107,131 | 133,530 |
Financing Receivables Not Impaired | Normal obligors | Foreign | A-B | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 15,540,347 | 15,153,557 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | C-D | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 5,748,131 | 5,246,343 | |
Financing Receivables Not Impaired | Normal obligors | Foreign | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3] | 8,382 | 8,428 |
Financing Receivables Not Impaired | Normal obligors | Foreign | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4] | 3,132,856 | 3,160,768 |
Financing Receivables Not Impaired | Watch obligors | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 201,063 | 209,099 |
Financing Receivables Not Impaired | Watch obligors | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 121,340 | 153,361 |
Financing Receivables Not Impaired | Watch obligors | E1 to E2 Rating | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 1,179,451 | 1,046,286 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 201,053 | 209,077 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 12,473 | 16,424 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 16,408 | 18,478 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 24,846 | 22,273 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 39,486 | 39,189 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 10,518 | 10,029 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 264 | 129 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 329 | 406 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Retail | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 96,729 | 102,149 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 40,733 | 53,343 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 2,958 | 1,019 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 255 | 562 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 546 | 65 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 35,315 | 49,213 |
Financing Receivables Not Impaired | Watch obligors | Domestic | Other | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 1,659 | 2,484 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 706,755 | 701,753 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 163,213 | 147,978 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 215,244 | 192,124 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 81,704 | 109,677 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 147,404 | 148,722 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 35,090 | 36,383 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 22,303 | 23,881 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 7,053 | 10,476 |
Financing Receivables Not Impaired | Watch obligors | Domestic | E1 to E2 Rating | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 34,744 | 32,512 |
Financing Receivables Not Impaired | Watch obligors | Foreign | Retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [3],[5] | 10 | 22 |
Financing Receivables Not Impaired | Watch obligors | Foreign | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [4],[5] | 80,607 | 100,018 |
Financing Receivables Not Impaired | Watch obligors | Foreign | E1 to E2 Rating | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | [5] | 472,696 | 344,533 |
Financing Receivables Impaired | Impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 989,703 | 1,175,077 | |
Financing Receivables Impaired | Impaired loans | Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 822,639 | 986,946 | |
Financing Receivables Impaired | Impaired loans | Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 373,505 | 479,518 | |
Financing Receivables Impaired | Impaired loans | Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 76,883 | 101,309 | |
Financing Receivables Impaired | Impaired loans | Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 66,010 | 70,623 | |
Financing Receivables Impaired | Impaired loans | Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 147,092 | 150,505 | |
Financing Receivables Impaired | Impaired loans | Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 29,156 | 35,572 | |
Financing Receivables Impaired | Impaired loans | Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,440 | 5,435 | |
Financing Receivables Impaired | Impaired loans | Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 3,946 | 580 | |
Financing Receivables Impaired | Impaired loans | Domestic | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | 122,607 | 143,404 | |
Financing Receivables Impaired | Impaired loans | Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans outstanding | ¥ 167,064 | ¥ 188,131 | |
[1] | Amounts represent loan balances before deducting unearned income and deferred loan fees. | ||
[2] | Other industries of Domestic and Other of Foreign include trade receivables and lease receivables of consolidated VIEs. | ||
[3] | Amounts represent small balance, homogeneous loans which are subject to pool allocations. | ||
[4] | Non-impaired loans held by subsidiaries other than MHBK and MHTB constitute Other, since their portfolio segments are not identical to those of MHBK and MHTB. | ||
[5] | Special attention obligors are watch obligors with debt in TDR or 90 days or more delinquent debt. Loans to such obligors are considered impaired. |
Loans (Impaired Loans) (Detail)
Loans (Impaired Loans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | ¥ 860,848 | ¥ 1,024,914 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 128,855 | 150,163 |
Total | [1] | 989,703 | 1,175,077 |
Unpaid principal balance | 1,051,240 | 1,253,937 | |
Related allowance | [3] | 289,186 | 352,231 |
Average recorded investment | 1,078,842 | 1,098,927 | |
Interest income recognized | [4] | 18,267 | 21,512 |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 712,377 | 853,062 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 110,262 | 133,884 |
Total | [1] | 822,639 | 986,946 |
Unpaid principal balance | 870,370 | 1,049,362 | |
Related allowance | [3] | 227,878 | 280,288 |
Average recorded investment | 892,402 | 865,804 | |
Interest income recognized | [4] | 15,638 | 18,315 |
Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 365,361 | 469,856 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 8,144 | 9,662 |
Total | [1] | 373,505 | 479,518 |
Unpaid principal balance | 379,642 | 487,833 | |
Related allowance | [3] | 138,676 | 170,864 |
Average recorded investment | 410,491 | 289,807 | |
Interest income recognized | [4] | 7,930 | 9,376 |
Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 59,883 | 77,863 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 17,000 | 23,446 |
Total | [1] | 76,883 | 101,309 |
Unpaid principal balance | 87,516 | 119,800 | |
Related allowance | [3] | 10,130 | 17,479 |
Average recorded investment | 89,075 | 119,325 | |
Interest income recognized | [4] | 1,246 | 1,570 |
Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 56,695 | 60,606 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 9,315 | 10,017 |
Total | [1] | 66,010 | 70,623 |
Unpaid principal balance | 72,603 | 78,470 | |
Related allowance | [3] | 19,095 | 18,771 |
Average recorded investment | 69,525 | 77,028 | |
Interest income recognized | [4] | 1,292 | 1,449 |
Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 134,425 | 138,981 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 12,667 | 11,524 |
Total | [1] | 147,092 | 150,505 |
Unpaid principal balance | 157,215 | 161,843 | |
Related allowance | [3] | 46,304 | 54,481 |
Average recorded investment | 149,324 | 150,525 | |
Interest income recognized | [4] | 2,376 | 2,529 |
Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 25,665 | 31,568 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 3,491 | 4,004 |
Total | [1] | 29,156 | 35,572 |
Unpaid principal balance | 30,497 | 36,858 | |
Related allowance | [3] | 5,694 | 10,173 |
Average recorded investment | 33,119 | 47,224 | |
Interest income recognized | [4] | 630 | 729 |
Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 3,390 | 5,373 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 50 | 62 |
Total | [1] | 3,440 | 5,435 |
Unpaid principal balance | 3,440 | 5,448 | |
Related allowance | [3] | 1,095 | 2,263 |
Average recorded investment | 5,188 | 7,487 | |
Interest income recognized | [4] | 42 | 98 |
Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 3,591 | 478 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 355 | 102 |
Total | [1] | 3,946 | 580 |
Unpaid principal balance | 4,132 | 766 | |
Related allowance | [3] | 799 | 55 |
Average recorded investment | 2,665 | 682 | |
Interest income recognized | [4] | 64 | 11 |
Domestic | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 63,367 | 68,337 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 59,240 | 75,067 |
Total | [1] | 122,607 | 143,404 |
Unpaid principal balance | 135,325 | 158,344 | |
Related allowance | [3] | 6,085 | 6,202 |
Average recorded investment | 133,015 | 173,726 | |
Interest income recognized | [4] | 2,058 | 2,553 |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment requiring an allowance for loan losses | [1] | 148,471 | 171,852 |
Recorded investment not requiring an allowance for loan losses | [1],[2] | 18,593 | 16,279 |
Total | [1] | 167,064 | 188,131 |
Unpaid principal balance | 180,870 | 204,575 | |
Related allowance | [3] | 61,308 | 71,943 |
Average recorded investment | 186,440 | 233,123 | |
Interest income recognized | [4] | ¥ 2,629 | ¥ 3,197 |
[1] | Amounts represent the outstanding balances of nonaccrual loans. The MHFG Group's policy for placing loans in nonaccrual status corresponds to the Group's definition of impaired loans. | ||
[2] | These impaired loans do not require an allowance for loan losses because the MHFG Group has sufficient collateral to cover probable loan losses. | ||
[3] | The allowance for loan losses on impaired loans includes the allowance for groups of small balance, homogeneous loans totaling ¥387,879 million and ¥347,839 million as of March 31, 2015 and 2016 which were collectively evaluated for impairment, in addition to the allowance for those loans that were individually evaluated for impairment. | ||
[4] | Amounts represent gross interest income on impaired loans which were included in Interest income on loans in the consolidated statements of income. |
Loans (Impaired Loans) (Parenth
Loans (Impaired Loans) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | [1] | ¥ 989,703 | ¥ 1,175,077 |
Small balance homogeneous loans of which were collectively evaluated for impairment | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment | ¥ 347,839 | ¥ 387,879 | |
[1] | Amounts represent the outstanding balances of nonaccrual loans. The MHFG Group's policy for placing loans in nonaccrual status corresponds to the Group's definition of impaired loans. |
Loans (Troubled Debt Restructur
Loans (Troubled Debt Restructuring) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | ||
Loan forgiveness or debt to equity swaps Recorded investment | ¥ 67,107 | |
Loan forgiveness or debt to equity swaps charge-off | 34,360 | ¥ 1,739 |
Interest rate reduction and/or postponement of principal and/or interest | 451,660 | 748,414 |
Domestic | ||
Financing Receivable, Modifications [Line Items] | ||
Loan forgiveness or debt to equity swaps Recorded investment | 67,107 | |
Loan forgiveness or debt to equity swaps charge-off | 34,360 | 1,236 |
Interest rate reduction and/or postponement of principal and/or interest | 406,912 | 697,684 |
Domestic | Manufacturing | ||
Financing Receivable, Modifications [Line Items] | ||
Loan forgiveness or debt to equity swaps Recorded investment | 67,058 | |
Loan forgiveness or debt to equity swaps charge-off | 34,081 | 1,236 |
Interest rate reduction and/or postponement of principal and/or interest | 108,395 | 380,149 |
Domestic | Construction and real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 27,078 | 31,554 |
Domestic | Services | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 43,919 | 55,592 |
Domestic | Wholesale and retail | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 157,651 | 153,577 |
Domestic | Transportation and communications | ||
Financing Receivable, Modifications [Line Items] | ||
Loan forgiveness or debt to equity swaps Recorded investment | 49 | |
Loan forgiveness or debt to equity swaps charge-off | 279 | |
Interest rate reduction and/or postponement of principal and/or interest | 28,244 | 25,452 |
Domestic | Banks and other financial institutions | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 6,342 | 13,482 |
Domestic | Other industries | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 7,120 | 2,607 |
Domestic | Individuals | ||
Financing Receivable, Modifications [Line Items] | ||
Interest rate reduction and/or postponement of principal and/or interest | 28,163 | 35,271 |
Foreign | ||
Financing Receivable, Modifications [Line Items] | ||
Loan forgiveness or debt to equity swaps charge-off | 503 | |
Interest rate reduction and/or postponement of principal and/or interest | ¥ 44,748 | ¥ 50,730 |
Loans (Loans Modified as Troubl
Loans (Loans Modified as Troubled Debt Restructuring within Previous Twelve Months and for which There Was Payment Default During Current Fiscal Year) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | ¥ 55,281 | ¥ 51,547 |
Domestic | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 44,435 | 43,360 |
Domestic | Manufacturing | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 10,669 | 9,719 |
Domestic | Construction and real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 2,195 | 1,673 |
Domestic | Services | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 4,824 | 2,479 |
Domestic | Wholesale and retail | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 20,522 | 23,979 |
Domestic | Transportation and communications | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 2,361 | 1,151 |
Domestic | Individuals | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | 3,864 | 4,359 |
Foreign | ||
Financing Receivable, Modifications [Line Items] | ||
Recorded investment | ¥ 10,846 | ¥ 8,187 |
Loans (Age Analysis of Past Due
Loans (Age Analysis of Past Due Loans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | ¥ 200,117 | ¥ 205,700 | |
Current | 77,522,408 | 78,005,991 | |
Total | [1] | 77,722,525 | 78,211,691 |
30-59 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 50,075 | 41,081 | |
60-89 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 18,545 | 24,211 | |
90 Days or More Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 131,497 | 140,408 | |
Domestic | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 166,660 | 190,729 | |
Current | 52,405,772 | 53,819,162 | |
Total | 52,572,432 | 54,009,891 | |
Domestic | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 11,172 | 12,037 | |
Current | 8,333,636 | 8,212,324 | |
Total | 8,344,808 | 8,224,361 | |
Domestic | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 39,428 | 50,888 | |
Current | 7,694,085 | 7,302,938 | |
Total | 7,733,513 | 7,353,826 | |
Domestic | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 9,718 | 9,904 | |
Current | 4,645,986 | 4,263,064 | |
Total | 4,655,704 | 4,272,968 | |
Domestic | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 12,940 | 16,446 | |
Current | 5,395,910 | 5,570,087 | |
Total | 5,408,850 | 5,586,533 | |
Domestic | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 2,708 | 6,157 | |
Current | 3,265,194 | 3,150,698 | |
Total | 3,267,902 | 3,156,855 | |
Domestic | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 345 | ||
Current | 3,632,481 | 3,852,475 | |
Total | 3,632,481 | 3,852,820 | |
Domestic | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Current | 3,395,784 | 4,611,900 | |
Total | 3,395,784 | 4,611,900 | |
Domestic | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 29 | 986 | |
Current | 4,619,307 | 5,078,936 | |
Total | [2] | 4,619,336 | 5,079,922 |
Domestic | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 90,665 | 93,966 | |
Current | 11,423,389 | 11,776,740 | |
Total | 11,514,054 | 11,870,706 | |
Domestic | 30-59 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 49,216 | 40,983 | |
Domestic | 30-59 Days Past Due | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 1,555 | 1,407 | |
Domestic | 30-59 Days Past Due | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 2,713 | 2,386 | |
Domestic | 30-59 Days Past Due | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 2,479 | 1,628 | |
Domestic | 30-59 Days Past Due | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 3,193 | 3,000 | |
Domestic | 30-59 Days Past Due | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 594 | 169 | |
Domestic | 30-59 Days Past Due | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 333 | ||
Domestic | 30-59 Days Past Due | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 38,682 | 32,060 | |
Domestic | 60-89 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 15,947 | 24,164 | |
Domestic | 60-89 Days Past Due | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 163 | 179 | |
Domestic | 60-89 Days Past Due | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 1,024 | 2,360 | |
Domestic | 60-89 Days Past Due | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 223 | 650 | |
Domestic | 60-89 Days Past Due | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 886 | 2,250 | |
Domestic | 60-89 Days Past Due | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 81 | 3,122 | |
Domestic | 60-89 Days Past Due | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 7 | ||
Domestic | 60-89 Days Past Due | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 13,570 | 15,596 | |
Domestic | 90 Days or More Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 101,497 | 125,582 | |
Domestic | 90 Days or More Past Due | Manufacturing | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 9,454 | 10,451 | |
Domestic | 90 Days or More Past Due | Construction and real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 35,691 | 46,142 | |
Domestic | 90 Days or More Past Due | Services | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 7,016 | 7,626 | |
Domestic | 90 Days or More Past Due | Wholesale and retail | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 8,861 | 11,196 | |
Domestic | 90 Days or More Past Due | Transportation and communications | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 2,033 | 2,866 | |
Domestic | 90 Days or More Past Due | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 12 | ||
Domestic | 90 Days or More Past Due | Other industries | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 29 | 979 | |
Domestic | 90 Days or More Past Due | Individuals | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 38,413 | 46,310 | |
Foreign | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 33,457 | 14,971 | |
Current | 25,116,636 | 24,186,829 | |
Total | 25,150,093 | 24,201,800 | |
Foreign | Banks and other financial institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 6,382,449 | 6,077,144 | |
Foreign | Government and public institutions | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,174,665 | 1,010,704 | |
Foreign | 30-59 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 859 | 98 | |
Foreign | 60-89 Days Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | 2,598 | 47 | |
Foreign | 90 Days or More Past Due | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due | ¥ 30,000 | ¥ 14,826 | |
[1] | Amounts represent loan balances before deducting unearned income and deferred loan fees. | ||
[2] | Other industries of Domestic and Other of Foreign include trade receivables and lease receivables of consolidated VIEs. |
Allowance For Loan Losses (Chan
Allowance For Loan Losses (Changes in Allowance for Loan Losses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of fiscal year | ¥ 520,259 | ¥ 626,177 | ¥ 772,957 | |
Provision (credit) for loan losses | 34,560 | (60,223) | (126,230) | |
Charge-offs | (112,319) | (79,222) | (65,148) | |
Recoveries | 20,665 | 23,283 | 26,535 | |
Net charge-offs | (91,654) | (55,939) | (38,613) | |
Others | [1] | (11,918) | 10,244 | 18,063 |
Balance at end of fiscal year | 451,247 | 520,259 | 626,177 | |
Allowance for loan losses of which individually evaluated for impairment | 238,941 | 307,573 | ||
Allowance for loan losses of which collectively evaluated for impairment | 212,306 | 212,686 | ||
Loans | [2] | 77,722,525 | 78,211,691 | |
Loans of which individually evaluated for impairment | [2] | 722,097 | 869,145 | |
Loans of which collectively evaluated for impairment | [2] | 77,000,428 | 77,342,546 | |
Corporate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of fiscal year | 423,177 | 501,349 | 641,895 | |
Provision (credit) for loan losses | 33,532 | (40,167) | (128,368) | |
Charge-offs | (97,536) | (64,634) | (47,927) | |
Recoveries | 17,232 | 19,086 | 21,423 | |
Net charge-offs | (80,304) | (45,548) | (26,504) | |
Others | [1] | (8,666) | 7,543 | 14,326 |
Balance at end of fiscal year | 367,739 | 423,177 | 501,349 | |
Allowance for loan losses of which individually evaluated for impairment | 222,591 | 284,247 | ||
Allowance for loan losses of which collectively evaluated for impairment | 145,148 | 138,930 | ||
Loans | [2] | 59,385,962 | 59,108,129 | |
Loans of which individually evaluated for impairment | [2] | 634,049 | 788,343 | |
Loans of which collectively evaluated for impairment | [2] | 58,751,913 | 58,319,786 | |
Retail | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of fiscal year | 60,469 | 95,542 | 109,189 | |
Provision (credit) for loan losses | (15,474) | (33,261) | (12,712) | |
Charge-offs | (2,173) | (3,266) | (3,935) | |
Recoveries | 1,399 | 1,454 | 3,000 | |
Net charge-offs | (774) | (1,812) | (935) | |
Balance at end of fiscal year | 44,221 | 60,469 | 95,542 | |
Allowance for loan losses of which individually evaluated for impairment | 3,829 | 8,092 | ||
Allowance for loan losses of which collectively evaluated for impairment | 40,392 | 52,377 | ||
Loans | [2] | 12,414,453 | 12,791,303 | |
Loans of which individually evaluated for impairment | [2] | 24,768 | 31,580 | |
Loans of which collectively evaluated for impairment | [2] | 12,389,685 | 12,759,723 | |
Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Balance at beginning of fiscal year | 36,613 | 29,286 | 21,873 | |
Provision (credit) for loan losses | 16,502 | 13,205 | 14,850 | |
Charge-offs | (12,610) | (11,322) | (13,286) | |
Recoveries | 2,034 | 2,743 | 2,112 | |
Net charge-offs | (10,576) | (8,579) | (11,174) | |
Others | [1] | (3,252) | 2,701 | 3,737 |
Balance at end of fiscal year | 39,287 | 36,613 | ¥ 29,286 | |
Allowance for loan losses of which individually evaluated for impairment | 12,521 | 15,234 | ||
Allowance for loan losses of which collectively evaluated for impairment | 26,766 | 21,379 | ||
Loans | [2] | 5,922,110 | 6,312,259 | |
Loans of which individually evaluated for impairment | [2] | 63,280 | 49,222 | |
Loans of which collectively evaluated for impairment | [2] | ¥ 5,858,830 | ¥ 6,263,037 | |
[1] | Others includes primarily foreign exchange translation. | |||
[2] | Amounts represent loan balances before deducting unearned income and deferred loan fees. |
Allowance For Loan Losses - Add
Allowance For Loan Losses - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Increase (Decrease) in provision for loan losses | ¥ 94,783 | ¥ (66,007) | ¥ (266,177) |
Premises and Equipment (Premise
Premises and Equipment (Premises and Equipment) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | ¥ 3,037,843 | ¥ 2,795,888 |
Less: Accumulated depreciation and amortization | 1,199,853 | 1,163,403 |
Premises and equipment-net | 1,837,990 | 1,632,485 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 552,205 | 563,295 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 827,458 | 822,229 |
Equipment and furniture | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 463,205 | 450,656 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 88,195 | 82,610 |
Construction in Progress | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 20,656 | 14,745 |
Software and Software Development Costs | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | ¥ 1,086,124 | ¥ 862,353 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization | ¥ 162,676 | ¥ 161,152 | ¥ 155,549 |
Premises and equipment under capital leases | |||
Property, Plant and Equipment [Line Items] | |||
Premises and equipment under capital leases | 69,077 | 58,783 | |
Premises and equipment under capital leases, accumulated depreciation and amortization | ¥ 34,733 | ¥ 33,249 |
Goodwill and Intangible Asset96
Goodwill and Intangible Assets (Changes in Goodwill) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||||
Goodwill [Line Items] | ||||||
Balance at beginning of fiscal year | ¥ 11,703 | ¥ 11,549 | ¥ 6,147 | |||
Goodwill acquired | 16,470 | [1] | 7,719 | [2] | ||
Impairment losses recognized | 6,222 | 3,792 | ||||
Foreign exchange translation | (2,854) | 154 | 1,475 | |||
Balance at end of fiscal year | 19,097 | 11,703 | 11,549 | |||
Gross amount of goodwill | 94,473 | 81,254 | 80,615 | |||
Accumulated impairment losses | 75,376 | 69,551 | 69,066 | |||
Mizuho Bank Limited | ||||||
Goodwill [Line Items] | ||||||
Balance at beginning of fiscal year | 11,703 | 11,549 | 6,147 | |||
Goodwill acquired | [2] | 7,719 | ||||
Impairment losses recognized | 6,222 | 3,792 | ||||
Foreign exchange translation | (2,854) | 154 | 1,475 | |||
Balance at end of fiscal year | 2,627 | 11,703 | 11,549 | |||
Gross amount of goodwill | 78,003 | 81,254 | 80,615 | |||
Accumulated impairment losses | 75,376 | ¥ 69,551 | ¥ 69,066 | |||
Mizuho Trust & Banking Company Limited | ||||||
Goodwill [Line Items] | ||||||
Goodwill acquired | [1] | 16,470 | ||||
Balance at end of fiscal year | 16,470 | |||||
Gross amount of goodwill | ¥ 16,470 | |||||
[1] | Goodwill acquired is entirely related to the acquisition of Simplex Real Estate Management Inc. and Simplex REIT Partners Inc. | |||||
[2] | Goodwill acquired is entirely related to the acquisition of Banco Mizuho do Brasil S.A. |
Goodwill and Intangible Asset97
Goodwill and Intangible Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Goodwill impairment losses recognized | ¥ 6,222 | ¥ 3,792 | |
Intangible assets amortization expense recognized | ¥ 5,254 | ¥ 5,376 | ¥ 5,709 |
Goodwill and Intangible Asset98
Goodwill and Intangible Assets (Gross Carrying Amount Accumulated Amortization and Net Carrying Amount of Intangible Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Intangible Assets by Major Class [Line Items] | |||
Gross carrying amount | ¥ 76,813 | ¥ 76,743 | |
Gross carrying amount | 9,224 | 9,189 | |
Net carrying amount | 9,224 | 9,189 | |
Gross carrying amount | 86,037 | 85,932 | |
Accumulated amortization | 37,386 | 32,352 | |
Net carrying amount | 39,427 | 44,391 | |
Net carrying amount | 48,651 | 53,580 | |
Customer relationships | |||
Intangible Assets by Major Class [Line Items] | |||
Gross carrying amount | [1] | 73,949 | 73,949 |
Accumulated amortization | [1] | 35,178 | 30,164 |
Net carrying amount | [1] | 38,771 | 43,785 |
Other | |||
Intangible Assets by Major Class [Line Items] | |||
Gross carrying amount | 2,864 | 2,794 | |
Accumulated amortization | 2,208 | 2,188 | |
Net carrying amount | ¥ 656 | ¥ 606 | |
[1] | Customer relationships were acquired in connection with the merger of MHSC and Shinko on May 7, 2009. See Note 1 "Basis of presentation and summary of significant accounting policies" for further information. |
Goodwill and Intangible Asset99
Goodwill and Intangible Assets (Estimated Aggregate Amortization Expense in Respect of Intangible Assets) (Detail) ¥ in Millions | Mar. 31, 2016JPY (¥) |
Finite-Lived Intangible Assets [Line Items] | |
2,017 | ¥ 4,800 |
2,018 | 4,522 |
2,019 | 4,281 |
2,020 | 4,058 |
2,021 | ¥ 3,469 |
Pledged assets and collatera100
Pledged assets and collateral (Amounts Pledged as Collateral for Borrowings and for Other Purposes) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||
Interest-bearing deposits in other banks | ¥ 69 | ¥ 35 |
Trading account assets | 7,939 | 8,462 |
Investments | 10,254 | 10,432 |
Loans | 5,871 | 6,881 |
Other assets | 1,322 | 945 |
Total | ¥ 25,455 | ¥ 26,755 |
Pledged assets and collatera101
Pledged assets and collateral (Associated Liabilities Collateralized by Pledged Assets) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Deposits | ¥ 813 | ¥ 773 |
Call money and funds purchased | 1,265 | |
Payables under repurchase agreements | 6,182 | 7,862 |
Payables under securities lending transactions | 2,790 | 2,339 |
Other short-term borrowings | 657 | 510 |
Long-term debt | 5,545 | 5,113 |
Total | ¥ 15,987 | ¥ 17,862 |
Pledged Assets and Collateral -
Pledged Assets and Collateral - Additional Information (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items] | ||
Reserve funds maintained with the BOJ | ¥ 34,377 | ¥ 26,824 |
Reserve funds requires to be maintained by MHFG Group | 1,322 | 1,313 |
Fair value collateral received that can be sold or repledged | 12,116 | 13,588 |
Fair value collateral received that can be sold or repledged, value of collateral sold or repledged | ¥ 11,616 | ¥ 12,657 |
Deposits (Balances of Time Depo
Deposits (Balances of Time Deposits and Certificates of Deposit Issued by Domestic Offices in Amounts of Yen Ten Million or more and Balances of those Deposits Issued by Foreign Offices in Amounts of United States One Hundred Thousand Dollars or more) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Deposits From Banking Clients [Line Items] | ||
Domestic deposit in amounts of YEN 10 million or more | ¥ 25,642,380 | ¥ 28,852,723 |
Foreign deposit in amounts of USD 100,000 or more | 18,102,837 | 18,631,893 |
Time deposits | ||
Deposits From Banking Clients [Line Items] | ||
Domestic deposit in amounts of YEN 10 million or more | 19,209,570 | 19,841,134 |
Foreign deposit in amounts of USD 100,000 or more | 12,708,142 | 11,948,577 |
Certificates of deposit | ||
Deposits From Banking Clients [Line Items] | ||
Domestic deposit in amounts of YEN 10 million or more | 6,432,810 | 9,011,589 |
Foreign deposit in amounts of USD 100,000 or more | ¥ 5,394,695 | ¥ 6,683,316 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Deposits From Banking Clients [Line Items] | ||
Aggregate amount of demand deposits in overdraft status that have been reclassified as loan balances | ¥ 890 | ¥ 669 |
Deposits (Balance and Remaining
Deposits (Balance and Remaining Maturities of Time Deposits and Certificates of Deposit Issued by Domestic and Foreign Offices) (Detail) ¥ in Millions | Mar. 31, 2016JPY (¥) |
Deposits From Banking Clients [Line Items] | |
Total | ¥ 53,089,547 |
Bank Time Deposits Liabilities Domestic | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 24,232,170 |
Due after one year through two years | 1,942,484 |
Due after two years through three years | 1,445,878 |
Due after three years through four years | 378,928 |
Due after four years through five years | 399,454 |
Due after five years | 147,810 |
Total | 28,546,724 |
Certificates Of Deposit Liabilities Domestic | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 6,406,310 |
Due after one year through two years | 26,500 |
Total | 6,432,810 |
Time deposits | |
Deposits From Banking Clients [Line Items] | |
Total | 41,262,014 |
Certificates of deposit | |
Deposits From Banking Clients [Line Items] | |
Total | 11,827,533 |
Bank Time Deposits Liabilities Foreign | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 12,648,102 |
Due after one year through two years | 60,503 |
Due after two years through three years | 6,367 |
Due after three years through four years | 46 |
Due after four years through five years | 13 |
Due after five years | 259 |
Total | 12,715,290 |
Certificates Of Deposit Liabilities Foreign | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 5,284,772 |
Due after one year through two years | 46,766 |
Due after two years through three years | 2,817 |
Due after four years through five years | 60,368 |
Total | 5,394,723 |
Domestic | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 30,638,480 |
Due after one year through two years | 1,968,984 |
Due after two years through three years | 1,445,878 |
Due after three years through four years | 378,928 |
Due after four years through five years | 399,454 |
Due after five years | 147,810 |
Total | 34,979,534 |
Foreign | |
Deposits From Banking Clients [Line Items] | |
Due in one year or less | 17,932,874 |
Due after one year through two years | 107,269 |
Due after two years through three years | 9,184 |
Due after three years through four years | 46 |
Due after four years through five years | 60,381 |
Due after five years | 259 |
Total | ¥ 18,110,013 |
Short-term borrowings and lo106
Short-term borrowings and long-term debt (Details of Other Short-Term Borrowings) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Short-term Debt [Line Items] | |||
Borrowings from the Bank of Japan | ¥ 324,146 | ¥ 432,538 | |
Other | 97,372 | 97,517 | |
Total | 2,080,039 | 1,582,597 | |
Mizuho Financial Group Inc | |||
Short-term Debt [Line Items] | |||
Commercial paper and short-term notes issued | [1],[2] | 1,369,302 | 742,500 |
Consolidated VIEs | |||
Short-term Debt [Line Items] | |||
Commercial paper and short-term notes issued | [2],[3] | 289,219 | 310,042 |
Total | ¥ 292,614 | ¥ 311,334 | |
[1] | Commercial paper and short-term notes issued by MHFG and its subsidiaries in the above table consist of commercial paper and short-term notes, of which the amounts were ¥777,602 million and ¥591,700 million, respectively, at March 31, 2016. At March 31, 2015, all the amounts represent the outstanding balances of short-term notes. | ||
[2] | Short-term notes are issued under the laws of Japan in the form of dematerialized commercial paper, whose characteristics are economically the same as commercial paper. | ||
[3] | Commercial paper and short-term notes issued by consolidated VIEs of asset-backed commercial paper programs in the above table consist of commercial paper and short-term notes, of which the amounts were ¥235,837 million and ¥74,205 million, respectively, at March 31, 2015, and ¥232,538 million and ¥56,681 million, respectively, at March 31, 2016. |
Short-term borrowings and lo107
Short-term borrowings and long-term debt (Details of Other Short-Term Borrowings) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Mizuho Financial Group Inc | ||
Short-term Debt [Line Items] | ||
Commercial paper | ¥ 777,602 | |
Short-term notes | 591,700 | |
Consolidated VIEs | ||
Short-term Debt [Line Items] | ||
Commercial paper | 232,538 | ¥ 235,837 |
Short-term notes | ¥ 56,681 | ¥ 74,205 |
Short-term borrowings and lo108
Short-term borrowings and long-term debt (Long-Term Debt with Original Maturities of More Than One Year) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Debt Instrument [Line Items] | ||
Obligations under capital leases | ¥ 37,811 | ¥ 29,129 |
Loan participation borrowings | 64,524 | 83,128 |
Senior borrowings and bonds | 11,581,024 | 11,080,548 |
Subordinated borrowings and bonds | 3,087,563 | 3,389,436 |
Total | ¥ 14,770,922 | ¥ 14,582,241 |
Short-term borrowings and lo109
Short-term borrowings and long-term debt (Interest Rates and Maturities of Senior Borrowings and Bonds and Subordinated Borrowings and Bonds) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Debt Instrument [Line Items] | |||
Borrowings and bonds | ¥ 14,668,587 | ¥ 14,469,984 | |
Senior borrowings and bonds | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 11,581,024 | 11,080,548 | |
Senior borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 7,863,984 | 7,675,926 | |
Senior borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 1,783,532 | 1,579,411 | |
Senior borrowings and bonds | Fixed Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 135,515 | 71,802 | |
Senior borrowings and bonds | Floating Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 852,425 | 925,188 | |
Senior borrowings and bonds | Floating Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 898,840 | 777,001 | |
Senior borrowings and bonds | Floating Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 46,728 | 51,220 | |
Subordinated borrowings and bonds | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 3,087,563 | 3,389,436 | |
Subordinated borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | 2,596,460 | 2,955,502 | |
Subordinated borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Borrowings and bonds | ¥ 491,103 | ¥ 433,934 | |
Minimum | Senior borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.00% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Senior borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.00% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Senior borrowings and bonds | Fixed Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.10% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Senior borrowings and bonds | Floating Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.00% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Senior borrowings and bonds | Floating Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.00% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Senior borrowings and bonds | Floating Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.09% | |
Maturities, Start | [2] | 2017-01 | |
Minimum | Subordinated borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 0.62% | |
Maturities, Start | [2] | 2016-04 | |
Minimum | Subordinated borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 4.30% | |
Maturities, Start | [2] | 2016-06 | |
Maximum | Senior borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 8.00% | |
Maturities, End | [2] | 2046-04 | |
Maximum | Senior borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 7.49% | |
Maturities, End | [2] | 2045-09 | |
Maximum | Senior borrowings and bonds | Fixed Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 5.00% | |
Maturities, End | [2] | 2037-05 | |
Maximum | Senior borrowings and bonds | Floating Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 16.00% | |
Maturities, End | [2] | 2046-03 | |
Maximum | Senior borrowings and bonds | Floating Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 6.70% | |
Maturities, End | [2] | 2033-07 | |
Maximum | Senior borrowings and bonds | Floating Rate | Denominated in other currencies | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 9.40% | |
Maturities, End | [2] | 2035-09 | |
Maximum | Subordinated borrowings and bonds | Fixed Rate | Denominated in Japanese yen | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 4.26% | |
Maximum | Subordinated borrowings and bonds | Fixed Rate | Denominated in U.S. dollars | |||
Debt Instrument [Line Items] | |||
Interest rates | [1] | 6.65% | |
[1] | The interest rates disclosed reflect the range of contractual rates in effect at March 31, 2016. | ||
[2] | Maturity information disclosed is the range of maturities at March 31, 2016. |
Short-term borrowings and lo110
Short-term borrowings and long-term debt (Contractual Maturities of Long-term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Debt Instrument [Line Items] | ||
2,017 | ¥ 1,874,328 | |
2,018 | 1,493,654 | |
2,019 | 4,881,901 | |
2,020 | 1,776,560 | |
2,021 | 432,082 | |
2022 and thereafter | 4,312,397 | |
Total | ¥ 14,770,922 | ¥ 14,582,241 |
Other assets and liabilities (O
Other assets and liabilities (Other Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Other assets: | ||
Accounts receivable from brokers, dealers and customers for securities transactions | ¥ 1,718,769 | ¥ 2,490,956 |
Collateral provided for derivative transactions | 884,651 | 673,511 |
Prepaid pension cost | 612,102 | 712,523 |
Miscellaneous receivables | 286,896 | 303,844 |
Margins provided for futures contracts | 225,240 | 207,381 |
Security deposits | 113,066 | 113,354 |
Loans held for sale | 33,133 | 4,583 |
Other | 828,428 | 612,452 |
Total | 4,702,285 | 5,118,604 |
Other liabilities: | ||
Accounts payable to brokers, dealers and customers for securities transactions | 2,882,824 | 1,894,023 |
Collateral accepted for derivative transactions | 715,894 | 737,032 |
Guaranteed trust principal | 623,904 | 561,364 |
Miscellaneous payables | 442,352 | 925,322 |
Margins accepted for futures contracts | 334,925 | 386,082 |
Factoring amounts owed to customers | 242,392 | 290,718 |
Unearned income | 144,903 | 138,681 |
Other | 1,089,529 | 1,001,641 |
Total | ¥ 6,476,723 | ¥ 5,934,863 |
Preferred stock (Composition of
Preferred stock (Composition of Preferred Stock) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Class of Stock [Line Items] | ||||
Aggregate amount | ¥ 914,752 | ¥ 914,752 | ¥ 914,752 | |
Number of shares Authorized | 4,214,752,000 | 4,214,752,000 | 4,251,442,000 | |
Number of shares Issued | 914,752,000 | 914,752,000 | 914,752,000 | |
Number of shares In treasury | 10,929,211 | 11,649,262 | ||
Eleventh series class XI preferred stock | ||||
Class of Stock [Line Items] | ||||
Aggregate amount | [1] | ¥ 914,752 | ¥ 914,752 | ¥ 914,752 |
Number of shares Authorized | [1] | 914,752,000 | 914,752,000 | 914,752,000 |
Number of shares Issued | [1] | 914,752,000 | 914,752,000 | 914,752,000 |
Liquidation value per share | [1] | ¥ 1,000 | ¥ 1,000 | ¥ 1,000 |
Convertible or not | [1] | Yes | ||
Thirteenth series class XIII preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | 36,690,000 | |||
First series class XIV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [2] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [2] | - | ||
Second series class XIV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [2] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [2] | - | ||
Third series class XIV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [2] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [2] | - | ||
Fourth series class XIV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [2] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [2] | - | ||
First series class XV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [3] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [3] | - | ||
Second series class XV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [3] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [3] | - | ||
Third series class XV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [3] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [3] | - | ||
Fourth series class XV preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [3] | 900,000,000 | 900,000,000 | 900,000,000 |
Convertible or not | [3] | - | ||
First series class XVI preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [4] | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 |
Convertible or not | [4] | - | ||
Second series class XVI preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [4] | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 |
Convertible or not | [4] | - | ||
Third series class XVI preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [4] | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 |
Convertible or not | [4] | - | ||
Fourth series class XVI preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares Authorized | [4] | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 |
Convertible or not | [4] | - | ||
Preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares In treasury | 815,828,400 | 701,631,100 | 602,100,700 | |
Preferred stock | Eleventh series class XI preferred stock | ||||
Class of Stock [Line Items] | ||||
Number of shares In treasury | [1] | 815,828,400 | 701,631,100 | 602,100,700 |
[1] | The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. | |||
[2] | The total number of authorized shares from first to fourth series class XIV preferred stock shall not exceed 900,000,000. | |||
[3] | The total number of authorized shares from first to fourth series class XV preferred stock shall not exceed 900,000,000. | |||
[4] | The total number of authorized shares from first to fourth series class XVI preferred stock shall not exceed 1,500,000,000. |
Preferred stock (Composition113
Preferred stock (Composition of Preferred Stock) (Parenthetical) (Detail) - shares | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 |
Class of Stock [Line Items] | |||
Number of shares Authorized | 4,214,752,000 | 4,214,752,000 | 4,251,442,000 |
First to fourth series class XIV Preferred Stock | Maximum | |||
Class of Stock [Line Items] | |||
Number of shares Authorized | 900,000,000 | ||
First to fourth series class XV Preferred Stock | Maximum | |||
Class of Stock [Line Items] | |||
Number of shares Authorized | 900,000,000 | ||
First to fourth series class XVI Preferred Stock | Maximum | |||
Class of Stock [Line Items] | |||
Number of shares Authorized | 1,500,000,000 |
Preferred stock (Material Terms
Preferred stock (Material Terms and Conditions Conversion of Eleventh Series Class XI Preferred Stock) (Detail) - Eleventh series class XI preferred stock | 12 Months Ended | |
Mar. 31, 2016 | ||
Conversion during the conversion period | ||
Class of Stock [Line Items] | ||
Conversion ratio | ¥1,000/(conversion price), where the conversion price after adjustment is ¥282.90 on or after August 30, 2011; to be reset on July 1, 2015 (a "Reset Date") as ¥1,000/(conversion price), where the conversion price is the lower of (x) the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the Tokyo Stock Exchange ("TSE") for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to the Reset Date and (y) the conversion price after adjustment effective as of the day before the relevant Reset Date, provided that the conversion price shall not be less than ¥282.90. | [1] |
Conversion on the day following the end of the conversion period | ||
Class of Stock [Line Items] | ||
Conversion date | Jul. 1, 2016 | |
Conversion ratio | ¥1,000/(current market price), where the current market price is the average price of daily closing prices (including closing bid or offered price) of common stock as reported by the TSE for the 30 consecutive trading days (excluding trading days on which no closing price, closing bid or offered price is reported) commencing on the 45th trading day prior to July 1, 2016, provided that the current market price shall not be less than ¥282.90. | |
Minimum | Conversion during the conversion period | ||
Class of Stock [Line Items] | ||
Conversion date | Jul. 1, 2008 | |
Maximum | Conversion during the conversion period | ||
Class of Stock [Line Items] | ||
Conversion date | Jun. 30, 2016 | |
[1] | Subject to adjustment, in the event of issuance or disposal by MHFG of common stock for a price below the "current market price", a stock split, issuance of securities convertible into common stock at a price below the "current market price" at the time of issuance thereof or determination of the conversion price thereof, merger or amalgamation, or a capital decrease or stock consolidation occurs and in certain other circumstances. |
Preferred stock (Material Te115
Preferred stock (Material Terms and Conditions Conversion of Eleventh Series Class XI Preferred Stock) (Parenthetical) (Detail) - Eleventh series class XI preferred stock | Mar. 31, 2016¥ / shares |
Conversion during the conversion period | |
Class of Stock [Line Items] | |
Conversion price, numerator | ¥ 1,000 |
Conversion price, denominator | 282.90 |
Conversion on the day following the end of the conversion period | |
Class of Stock [Line Items] | |
Conversion price, numerator | 1,000 |
Conversion price, denominator | ¥ 282.90 |
Preferred stock (Changes in Num
Preferred stock (Changes in Number of Shares and Aggregate Amount of Preferred Stock) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Class of Stock [Line Items] | ||||
Balance at beginning of fiscal year | ¥ 8,189,844 | ¥ 6,621,371 | ||
Balance at end of fiscal year | ¥ 8,183,191 | ¥ 8,189,844 | ¥ 6,621,371 | |
Preferred stock | ||||
Class of Stock [Line Items] | ||||
Issued at beginning of year | 914,752,000 | 914,752,000 | 951,442,000 | |
Net change | (36,690,000) | |||
Issued at end of year | 914,752,000 | 914,752,000 | 914,752,000 | |
Balance at beginning of fiscal year | ¥ 213,121 | ¥ 312,651 | ¥ 377,354 | |
Balance at end of fiscal year | ¥ 98,924 | ¥ 213,121 | ¥ 312,651 | |
Preferred stock | Eleventh series class XI preferred stock | ||||
Class of Stock [Line Items] | ||||
Issued at beginning of year | [1],[2] | 914,752,000 | 914,752,000 | 914,752,000 |
Net change | [1],[2] | |||
Issued at end of year | [1],[2] | 914,752,000 | 914,752,000 | 914,752,000 |
Preferred stock | Thirteenth series class XIII preferred stock | ||||
Class of Stock [Line Items] | ||||
Issued at beginning of year | 36,690,000 | |||
Net change | (36,690,000) | |||
Issued at end of year | ||||
Preferred stock | Stock Issued | ||||
Class of Stock [Line Items] | ||||
Balance at beginning of fiscal year | ¥ 914,752 | ¥ 914,752 | ¥ 951,442 | |
Net change | (36,690) | |||
Balance at end of fiscal year | 914,752 | 914,752 | 914,752 | |
Preferred stock | Stock Issued | Eleventh series class XI preferred stock | ||||
Class of Stock [Line Items] | ||||
Balance at beginning of fiscal year | [1],[2] | 914,752 | 914,752 | 914,752 |
Net change | [1],[2] | |||
Balance at end of fiscal year | [1],[2] | 914,752 | 914,752 | 914,752 |
Preferred stock | Stock Issued | Thirteenth series class XIII preferred stock | ||||
Class of Stock [Line Items] | ||||
Balance at beginning of fiscal year | 36,690 | |||
Net change | (36,690) | |||
Balance at end of fiscal year | ||||
[1] | All shares of the eleventh series class XI preferred stock were converted into common stock on July 1, 2016 and cancelled on July 13, 2016. | |||
[2] | The aggregate amount and number of issued shares include the preferred stock in treasury which has been converted into common stock but not yet cancelled. |
Common Stock (Changes in Number
Common Stock (Changes in Number of Issued Shares of Common Stock) (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Class of Stock [Line Items] | |||
Balance at beginning of fiscal year | 24,621,897,967 | 24,263,885,187 | 24,164,864,477 |
Issuance of new shares of common stock due to conversion of Eleventh series class XI preferred stock | 403,667,690 | 351,822,780 | 99,020,710 |
Issuance of new shares of common stock due to exercise of stock acquisition rights | 4,960,000 | 6,190,000 | |
Balance at end of fiscal year | 25,030,525,657 | 24,621,897,967 | 24,263,885,187 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2014 | |
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Capital stock | ¥ 2,255,791 | |
Capital surplus | 1,195,831 | |
Retained earnings | ¥ 1,703,050 | |
Description of dividend payment restrictions | In making a distribution of retained earnings, an entity must set aside in its legal reserve an amount equal to one-tenth of the amount of retained earnings so distributed, until its legal reserve reaches one-quarter of its capital stock. | |
Percentage of retained earnings set aside for legal reserve | 10.00% | |
Legal reserve | ¥ 1,200,033 | |
Maximum amount available for dividends under Company Law and the Banking Law | ¥ 1,696,034 | |
Minimum Common Equity Tier 1 ratio required for capital adequacy purposes | 4.50% | 4.00% |
Japan Gaap Additional Paid-in Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Legal reserve | ¥ 1,195,683 | |
Japan Gaap Retained Earnings | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Legal reserve | ¥ 4,350 |
Dividends (Dividends on Preferr
Dividends (Dividends on Preferred Stock and Common Stock) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Japan Gaap Dividends Payable [Line Items] | ||||
Cash dividends In aggregate | ¥ 195,265 | ¥ 176,137 | ¥ 152,265 | |
Eleventh series class XI preferred stock | ||||
Japan Gaap Dividends Payable [Line Items] | ||||
Cash dividends Per share | ¥ 20 | ¥ 20 | ¥ 20 | |
Cash dividends In aggregate | ¥ 3,572 | ¥ 5,906 | ¥ 6,717 | |
Thirteenth series class XIII preferred stock | ||||
Japan Gaap Dividends Payable [Line Items] | ||||
Cash dividends Per share | [1] | ¥ 15 | ||
Cash dividends In aggregate | [1] | ¥ 550 | ||
Common stock | ||||
Japan Gaap Dividends Payable [Line Items] | ||||
Cash dividends Per share | ¥ 7.75 | ¥ 7 | ¥ 6 | |
Cash dividends In aggregate | ¥ 191,693 | ¥ 170,231 | ¥ 144,998 | |
[1] | On July 11, 2013, MHFG acquired and cancelled all of the shares of the thirteenth series class XIII preferred stock. Consequently, the amount for the fiscal year does not include interim dividends. |
Accumulated Other Comprehens120
Accumulated Other Comprehensive Income (Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net Of Tax) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at beginning of fiscal year | ¥ 2,041,005 | ¥ 1,117,877 | ¥ 777,997 |
Less: reclassification adjustments for losses (gains) included in net income | (152,640) | ||
Change during year | (571,697) | 923,128 | 339,880 |
Balance at end of fiscal year | 1,469,308 | 2,041,005 | 1,117,877 |
Accumulated Net Unrealized Investment Gain (Loss) | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at beginning of fiscal year | 1,747,607 | 1,123,272 | 995,124 |
Before reclassification adjustments during year | (189,479) | 763,115 | 255,140 |
Less: reclassification adjustments for losses (gains) included in net income | (148,669) | (138,780) | (126,992) |
Change during year | (338,148) | 624,335 | 128,148 |
Balance at end of fiscal year | 1,409,459 | 1,747,607 | 1,123,272 |
Accumulated Translation Adjustment | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at beginning of fiscal year | 129,179 | (6,434) | (82,420) |
Before reclassification adjustments during year | (122,081) | 134,104 | 75,986 |
Less: reclassification adjustments for losses (gains) included in net income | (788) | 1,509 | |
Change during year | (122,869) | 135,613 | 75,986 |
Balance at end of fiscal year | 6,310 | 129,179 | (6,434) |
Accumulated Defined Benefit Plans Adjustment | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balance at beginning of fiscal year | 164,219 | 1,039 | (134,707) |
Before reclassification adjustments during year | (107,497) | 163,191 | 131,360 |
Less: reclassification adjustments for losses (gains) included in net income | (3,183) | (11) | 4,386 |
Change during year | (110,680) | 163,180 | 135,746 |
Balance at end of fiscal year | ¥ 53,539 | ¥ 164,219 | ¥ 1,039 |
Accumulated Other Comprehens121
Accumulated Other Comprehensive Income (Amounts Reclassified Out of Accumulated Other Comprehensive Income into Net Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Before tax | [1] | ¥ 219,224 | ||
Tax effect | [2] | (66,524) | ||
Net of tax before allocation to noncontrolling interests | 152,700 | |||
Net of tax attributable to noncontrolling interests | [2] | (60) | ||
Net of tax attributable to MHFG shareholders | 152,640 | |||
Accumulated Net Unrealized Investment Gain (Loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net of tax attributable to MHFG shareholders | 148,669 | ¥ 138,780 | ¥ 126,992 | |
Accumulated Net Unrealized Investment Gain (Loss) | Investment gains (losses)-net | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Before tax | [1] | 213,907 | ||
Tax effect | [2] | (65,207) | ||
Net of tax before allocation to noncontrolling interests | 148,700 | |||
Net of tax attributable to noncontrolling interests | [2] | (31) | ||
Net of tax attributable to MHFG shareholders | 148,669 | |||
Accumulated Translation Adjustment | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net of tax attributable to MHFG shareholders | 788 | (1,509) | ||
Accumulated Translation Adjustment | Foreign exchange gains (losses)-net | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Before tax | [1] | 788 | ||
Net of tax before allocation to noncontrolling interests | 788 | |||
Net of tax attributable to MHFG shareholders | 788 | |||
Accumulated Defined Benefit Plans Adjustment | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net of tax attributable to MHFG shareholders | 3,183 | ¥ 11 | ¥ (4,386) | |
Accumulated Defined Benefit Plans Adjustment | Salaries and employee benefits | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Before tax | [1] | 4,529 | ||
Tax effect | [2] | (1,317) | ||
Net of tax before allocation to noncontrolling interests | 3,212 | |||
Net of tax attributable to noncontrolling interests | [2] | (29) | ||
Net of tax attributable to MHFG shareholders | ¥ 3,183 | |||
[1] | The amounts in the Before tax column are recorded in each account presented under the heading "Affected line items in the consolidated statements of income". | |||
[2] | The amounts in the Tax effect column and Net of tax attributable to noncontrolling interests column are recorded in Income tax expense and Net income attributable to noncontrolling interests in the consolidated statements of income, respectively. |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2016JPY (¥) | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 120.00% | |
Increments of capital investment | 10.00% | |
Additional Tier 1 capital | ¥ 1,144 | |
Tier 2 capital | ¥ 962.9 | |
Common Equity Tier 1 capital requirement, including capital conservation buffer | 7.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | |
Buffer ranging percentage | 0.625% | |
Adjustment in the calculation of Common Equity | 20.00% | |
Increased in Common Equity | 20.00% | |
Date at which regulatory adjustments reach 100% | 2018-03 | |
Description of regulatory actions for not maintaining the minimum capital ratio concerning securities subsidiaries | A capital ratio of less than 140% will call for regulatory reporting and a capital ratio of less than 100% may lead to a temporary suspension of all or part of the business operations and further, to the cancellation of the license to act as a securities broker and dealer. | |
Minimum | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Buffer ranging percentage | 0.00% | |
Minimum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 1.00% | |
Minimum | Regulatory reporting | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 140.00% | |
Minimum | Temporary suspension | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 100.00% | |
Maximum | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Buffer ranging percentage | 2.50% | |
Maximum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 2.50% | |
Basel III | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Tier 1 capital ratio | 6.00% | |
Common Equity Tier 1 | 4.50% | |
Basel III | Minimum | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 8.00% | |
March 2,016 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Additional loss absorbency requirements for G-SIBs and D-SIBs | 0.25% | [1] |
Capital conservation buffer | 0.625% | |
March 2,019 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | [1] |
Capital conservation buffer | 2.50% | |
January 1, 2019 | Minimum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 16.00% | |
January 1, 2022 | Minimum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 18.00% | |
January 1, 2019 | Minimum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 6.00% | |
January 1, 2022 | Minimum | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Capital adequacy ratio | 6.75% | |
2019 | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Percentage of consolidated risk-weighted assets | 2.50% | |
2022 | G-SIB | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements [Line Items] | ||
Percentage of consolidated risk-weighted assets | 3.50% | |
[1] | Figures assume that the additional loss absorbency requirements applied to the Group as a G-SIB and D-SIB continue to be 1.0% on a fully effective basis. |
Regulatory Matters (Capital Req
Regulatory Matters (Capital Requirements and Regulatory Adjustments Over Transitional Period) (Detail) | 12 Months Ended | |
Mar. 31, 2016 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | |
March 2,013 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 0.00% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 90.00% | |
Phase-in of deductions from capital | 0.00% | |
March 2013 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 3.50% | |
March 2013 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2,014 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 0.00% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 80.00% | |
Phase-in of deductions from capital | 20.00% | |
March 2014 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.00% | |
March 2014 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 5.50% | |
March 2,015 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 0.00% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 70.00% | |
Phase-in of deductions from capital | 40.00% | |
March 2015 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2015 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,016 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 0.625% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 60.00% | |
Phase-in of deductions from capital | 60.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 0.25% | [1] |
March 2016 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2016 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,017 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 1.25% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 50.00% | |
Phase-in of deductions from capital | 80.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 0.50% | [1] |
March 2017 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2017 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,018 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 1.875% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 40.00% | |
Phase-in of deductions from capital | 100.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 0.75% | [1] |
March 2018 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2018 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,019 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 2.50% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 30.00% | |
Phase-in of deductions from capital | 100.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | [1] |
March 2019 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2019 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,020 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 2.50% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 20.00% | |
Phase-in of deductions from capital | 100.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | [1] |
March 2020 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2020 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,021 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 2.50% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 10.00% | |
Phase-in of deductions from capital | 100.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | [1] |
March 2021 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2021 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
March 2,022 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 8.00% | |
Capital conservation buffer | 2.50% | |
Phase out of recognition of capital instruments that no longer qualify as capital | 0.00% | |
Phase-in of deductions from capital | 100.00% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | [1] |
March 2022 | Common Equity Tier 1 Capital | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 4.50% | |
March 2022 | Tier I | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Minimum total capital | 6.00% | |
[1] | Figures assume that the additional loss absorbency requirements applied to the Group as a G-SIB and D-SIB continue to be 1.0% on a fully effective basis. |
Regulatory Matters (Capital 124
Regulatory Matters (Capital Requirements and Regulatory Adjustments Over Transitional Period) (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2016 | |
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% |
Regulatory Matters (Capital Ade
Regulatory Matters (Capital Adequacy Ratios of MHFG MHBK and MHTB) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Total risk-based capital: | ||||
Actual | ¥ 2,255,791 | |||
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.00% | ||
Total risk-based capital: | ||||
Required | 120.00% | |||
Mizuho Financial Group Inc | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | [1] | ¥ 3,361,000 | ¥ 2,934,000 | |
Actual | 6,566,000 | 6,153,000 | ||
Tier 1 capital: | ||||
Required | [1] | 4,299,000 | 3,912,000 | |
Actual | 7,905,000 | 7,500,000 | ||
Total risk-based capital: | ||||
Required | [1] | 5,550,000 | 5,215,000 | |
Actual | ¥ 9,639,000 | ¥ 9,508,000 | ||
Common Equity Tier 1 capital: | ||||
Required | [1] | 5.375% | 4.50% | |
Actual | 10.50% | 9.43% | ||
Tier 1 capital: | ||||
Required | [1] | 6.875% | 6.00% | |
Actual | 12.64% | 11.50% | ||
Total risk-based capital: | ||||
Required | [1] | 8.875% | 8.00% | |
Actual | 15.41% | 14.58% | ||
Mizuho Bank Limited | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 2,555,000 | ¥ 2,574,000 | ||
Actual | 6,142,000 | 5,966,000 | ||
Tier 1 capital: | ||||
Required | 3,406,000 | 3,432,000 | ||
Actual | 7,244,000 | 6,943,000 | ||
Total risk-based capital: | ||||
Required | 4,542,000 | 4,576,000 | ||
Actual | ¥ 8,780,000 | ¥ 8,754,000 | ||
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 10.81% | 10.42% | ||
Tier 1 capital: | ||||
Required | 6.00% | 6.00% | ||
Actual | 12.75% | 12.13% | ||
Total risk-based capital: | ||||
Required | 8.00% | 8.00% | ||
Actual | 15.46% | 15.30% | ||
Mizuho Bank Limited | Non-consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 2,489,000 | ¥ 2,519,000 | ||
Actual | 5,892,000 | 5,787,000 | ||
Tier 1 capital: | ||||
Required | 3,318,000 | 3,359,000 | ||
Actual | 7,004,000 | 6,728,000 | ||
Total risk-based capital: | ||||
Required | 4,424,000 | 4,479,000 | ||
Actual | ¥ 8,576,000 | ¥ 8,598,000 | ||
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 10.65% | 10.33% | ||
Tier 1 capital: | ||||
Required | 6.00% | 6.00% | ||
Actual | 12.66% | 12.01% | ||
Total risk-based capital: | ||||
Required | 8.00% | 8.00% | ||
Actual | 15.50% | 15.35% | ||
Mizuho Trust & Banking Company Limited | Consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 109,000 | ¥ 120,000 | ||
Actual | 440,000 | 444,000 | ||
Tier 1 capital: | ||||
Required | 145,000 | 160,000 | ||
Actual | 440,000 | 444,000 | ||
Total risk-based capital: | ||||
Required | 193,000 | 213,000 | ||
Actual | ¥ 472,000 | ¥ 512,000 | ||
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 18.21% | 16.67% | ||
Tier 1 capital: | ||||
Required | 6.00% | 6.00% | ||
Actual | 18.21% | 16.68% | ||
Total risk-based capital: | ||||
Required | 8.00% | 8.00% | ||
Actual | 19.52% | 19.21% | ||
Mizuho Trust & Banking Company Limited | Non-consolidated | ||||
Common Equity Tier 1 capital: | ||||
Required | ¥ 109,000 | ¥ 117,000 | ||
Actual | 448,000 | 437,000 | ||
Tier 1 capital: | ||||
Required | 145,000 | 156,000 | ||
Actual | 448,000 | 437,000 | ||
Total risk-based capital: | ||||
Required | 194,000 | 208,000 | ||
Actual | ¥ 480,000 | ¥ 503,000 | ||
Common Equity Tier 1 capital: | ||||
Required | 4.50% | 4.50% | ||
Actual | 18.52% | 16.79% | ||
Tier 1 capital: | ||||
Required | 6.00% | 6.00% | ||
Actual | 18.52% | 16.79% | ||
Total risk-based capital: | ||||
Required | 8.00% | 8.00% | ||
Actual | 19.80% | 19.33% | ||
[1] | The required amounts and ratios as of March 31, 2016 include those equivalent to a transition capital conservation buffer of 0.625% and transition additional loss absorbency requirements for a G-SIB and D-SIB of 0.25% and the sum of the risk weighted assets and each such ratio. |
Regulatory Matters (Capital 126
Regulatory Matters (Capital Adequacy Ratios of MHFG MHBK and MHTB) (Parenthetical) (Detail) | 12 Months Ended | |
Mar. 31, 2016 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Buffer ranging percentage | 0.625% | |
Additional loss absorbency requirements for G-SIBs and D-SIBs | 1.00% | |
March 2,016 | ||
Japan Gaap Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Additional loss absorbency requirements for G-SIBs and D-SIBs | 0.25% | [1] |
[1] | Figures assume that the additional loss absorbency requirements applied to the Group as a G-SIB and D-SIB continue to be 1.0% on a fully effective basis. |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings Per Common Share) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Net income: | ||||
Net income attributable to MHFG shareholders | ¥ 850,492 | ¥ 803,048 | ¥ 498,484 | |
Less: Net income attributable to preferred shareholders | 2,430 | 4,910 | 6,745 | |
Net income attributable to common shareholders | 848,062 | 798,138 | 491,739 | |
Effect of dilutive securities: | ||||
Convertible preferred stock | 2,430 | 4,910 | 6,437 | |
Net income attributable to common shareholders after assumed conversions | ¥ 850,492 | ¥ 803,048 | ¥ 498,176 | |
Shares: | ||||
Weighted average common shares outstanding | 24,806,161 | 24,368,116 | 24,189,670 | |
Effect of dilutive securities: | ||||
Convertible preferred stock | [1] | 563,044 | 994,745 | 1,164,941 |
Stock options | 17,828 | 18,186 | 16,641 | |
Weighted average common shares after assumed conversions | 25,387,033 | 25,381,047 | 25,371,252 | |
Amounts per common share: | ||||
Basic net income per common share | ¥ 34.19 | ¥ 32.75 | ¥ 20.33 | |
Diluted net income per common share | ¥ 33.50 | ¥ 31.64 | ¥ 19.64 | |
[1] | The number of common shares after assumed conversion of the convertible preferred stock is based on the applicable conversion prices. |
Income taxes (Components of Inc
Income taxes (Components of Income Tax Expense) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Current: | |||
Domestic | ¥ 162,408 | ¥ 184,180 | ¥ 92,814 |
Foreign | 61,009 | 71,250 | 42,919 |
Total current tax expense | 223,417 | 255,430 | 135,733 |
Deferred: | |||
Domestic | 127,185 | 187,134 | 94,911 |
Foreign | (4,060) | (5,144) | (4,536) |
Total deferred tax expense | 123,125 | 181,990 | 90,375 |
Income tax expense | ¥ 346,542 | ¥ 437,420 | ¥ 226,108 |
Income Taxes (Tax Effects of It
Income Taxes (Tax Effects of Items Recorded Directly in Equity) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Net unrealized gains (losses) on available-for-sale securities: | |||
Unrealized gains (losses) | ¥ (97,339) | ¥ 403,690 | ¥ 161,269 |
Less: reclassification adjustments | (65,207) | (65,699) | (70,228) |
Total | (162,546) | 337,991 | 91,041 |
Foreign currency translation adjustments: | |||
Unrealized gains (losses) | 126 | ||
Less: reclassification adjustments | 0 | 0 | 0 |
Total | 126 | ||
Pension liability adjustments: | |||
Unrealized gains (losses) | (51,661) | 87,654 | 71,646 |
Less: reclassification adjustments | (1,317) | (16) | 2,442 |
Total | (52,978) | 87,638 | 74,088 |
Total tax effect before allocation to noncontrolling interests | ¥ (215,398) | ¥ 425,629 | ¥ 165,129 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Income Tax Expense at Effective Statutory Tax Rate to Actual Income Tax Expense) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |||||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||||||
Income before income tax expense | ¥ 1,196,605 | ¥ 1,267,653 | ¥ 726,343 | ||||
Effective statutory tax rate | 33.06% | 35.64% | 38.01% | ||||
Income tax calculated at the statutory tax rate | ¥ 395,598 | ¥ 451,792 | ¥ 276,083 | ||||
Income not subject to tax | (12,888) | (20,911) | (22,354) | ||||
Expenses not deductible for tax purposes | 1,521 | 1,532 | 1,550 | ||||
Tax rate differentials of subsidiaries | (2,208) | (3,517) | (1,611) | ||||
Change in valuation allowance | [1] | (1,897) | (4,444) | (44,620) | |||
Change in undistributed earnings of subsidiaries | (16,112) | 16,084 | 932 | ||||
Change in net operating loss carryforwards resulting from intercompany capital transactions | (1,446) | (1,290) | 235 | ||||
Effect of enacted change in tax rates | (7,976) | [2] | (21,714) | [3] | 15,786 | [4] | |
Other | (8,050) | 19,888 | 107 | ||||
Income tax expense | ¥ 346,542 | ¥ 437,420 | ¥ 226,108 | ||||
[1] | In the fiscal year ended March 31, 2015, the MHFG Group partially changed the basis of presentation in respect of change in valuation allowance to represent the amount of change that directly affected Income tax expense. The current period's presentation of change in valuation allowance excludes the effect of expiration of net operating loss carryforwards for which a valuation allowance had been fully recorded against the associated deferred tax assets. Refer to the roll-forward table in Note 19 for details of expiration of net operating loss carryforwards which affected the gross valuation allowance but not the total Income tax expense in prior periods. | ||||||
[2] | On March 29, 2016, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG's tax returns for the fiscal year ending March 31, 2017 and 2018 will be reduced to 30.86% from the previous rate of 32.26%. In addition, the tax rate for the fiscal years ending March 31, 2019 and thereafter will be 30.62%. The decrease in the Group's balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2016. | ||||||
[3] | On March 31, 2015, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG's tax returns for the fiscal year ended March 31, 2016 has been reduced to 33.06% from the previous rate of 35.64%. In addition, the tax rate for the fiscal years ending March 31, 2017 and thereafter will be 32.26%. The decrease in the Group's balance of net deferred tax liabilities, reflecting such tax rate reductions, was recognized as a reduction to Income tax expense in the fiscal year ended March 31, 2015. | ||||||
[4] | On March 20, 2014, the National Diet of Japan approved a bill affecting the statutory tax rates of MHFG and its domestic subsidiaries. As a result, the statutory tax rate in respect of MHFG's tax returns for the fiscal year ended March 31, 2015 was reduced to 35.64% from the previous rate of 38.01%. The decrease in the Group's balance of net deferred tax assets, reflecting such tax rate reductions, was recognized in Income tax expense in the fiscal year ended March 31, 2014. |
Income Taxes (Reconciliation131
Income Taxes (Reconciliation of Income Tax Expense at Effective Statutory Tax Rate to Actual Income Tax Expense) (Parenthetical) (Detail) | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 33.06% | 35.64% | 38.01% |
March 31, 2016 | |||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 33.06% | ||
March 31, 2017 and Thereafter | |||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 32.26% | ||
March 31, 2017 | |||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 30.86% | ||
March 31, 2018 | |||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 30.86% | ||
March 31, 2019 and Thereafter | |||
Reconciliation of Income Tax Expense Benefit and Statutory Federal Tax Rate [Line Items] | |||
Effective statutory tax rate | 30.62% |
Income Taxes (Components of Net
Income Taxes (Components of Net Deferred Tax Assets (Liabilities)) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Deferred tax assets: | |||||
Investments | ¥ 522,197 | ¥ 575,974 | |||
Allowance for loan losses | 178,683 | 225,436 | |||
Derivative financial instruments | 8,719 | ||||
Net operating loss carryforwards | [1] | 341,572 | 392,363 | ||
Other | 170,414 | 197,335 | |||
Deferred Tax Assets, Gross, Total | 1,212,866 | 1,399,827 | |||
Valuation allowance | (339,922) | (388,551) | ¥ (443,847) | ¥ (584,665) | |
Deferred tax assets, net of valuation allowance | 872,944 | 1,011,276 | |||
Deferred tax liabilities: | |||||
Available-for-sale securities | 710,497 | 909,744 | |||
Prepaid pension cost and accrued pension liabilities | 174,959 | 218,124 | |||
Derivative financial instruments | 56,877 | ||||
Trading securities | 23,154 | 39,056 | |||
Undistributed earnings of subsidiaries | 11,944 | 28,056 | |||
Premises and equipment | 1,033 | 2,614 | |||
Other | 38,990 | 49,717 | |||
Deferred tax liabilities | 1,017,454 | 1,247,311 | |||
Net deferred tax assets (liabilities) | ¥ (144,510) | ¥ (236,035) | |||
[1] | The amount includes ¥281,403 million and ¥268,544 million related to MHFG's net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. |
Income Taxes (Components of 133
Income Taxes (Components of Net Deferred Tax Assets (Liabilities)) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2013 | |
Schedule of Deferred Income Tax Assets and Liabilities [Line Items] | ||||
Net operating loss carryforwards | [1] | ¥ 341,572 | ¥ 392,363 | |
Parent Company | ||||
Schedule of Deferred Income Tax Assets and Liabilities [Line Items] | ||||
Net operating loss carryforwards | ¥ 268,544 | ¥ 281,403 | ||
Net operating loss carryforwards expired | ¥ 1,262,000 | |||
[1] | The amount includes ¥281,403 million and ¥268,544 million related to MHFG's net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. |
Income Taxes (Breakdown of Net
Income Taxes (Breakdown of Net Operating Loss Carryforwards by Tax Jurisdiction) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | [1] | ¥ 341,572 | ¥ 392,363 | ||
Operating loss, Valuation allowance | (334,000) | (383,000) | |||
Deferred tax assets,Operating loss carryforward net of valuation allowance | 8,000 | 9,000 | |||
Japan | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | 270,000 | [2] | 286,000 | [3] | |
Operating loss, Valuation allowance | (270,000) | [2] | (283,000) | [3] | |
Deferred tax assets,Operating loss carryforward net of valuation allowance | [3] | 3,000 | |||
United Kingdom | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | 53,000 | [4] | 86,000 | [5] | |
Operating loss, Valuation allowance | (53,000) | [4] | (86,000) | [5] | |
United States of America | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | 16,000 | 17,000 | |||
Operating loss, Valuation allowance | (8,000) | (11,000) | |||
Deferred tax assets,Operating loss carryforward net of valuation allowance | 8,000 | 6,000 | |||
Others | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | 3,000 | 3,000 | |||
Operating loss, Valuation allowance | ¥ (3,000) | ¥ (3,000) | |||
[1] | The amount includes ¥281,403 million and ¥268,544 million related to MHFG's net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. | ||||
[2] | ¥265 billion of the Japan net operating losses of ¥270 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. | ||||
[3] | ¥279 billion of the Japan net operating losses of ¥286 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. | ||||
[4] | The United Kingdom net operating losses of ¥53 billion may be carried forward indefinitely. | ||||
[5] | The United Kingdom net operating losses of ¥86 billion may be carried forward indefinitely. |
Income Taxes (Breakdown of N135
Income Taxes (Breakdown of Net Operating Loss Carryforwards by Tax Jurisdiction) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | ||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | [1] | ¥ 341,572 | ¥ 392,363 | ||
Japan | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | 270,000 | [2] | 286,000 | [3] | |
Japan | Mizuho Financial Group Inc | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | ¥ 265,000 | ¥ 279,000 | |||
Operating loss carryforwards, expiration date | Mar. 31, 2018 | Mar. 31, 2018 | |||
United Kingdom | |||||
Operating Loss Carryforwards [Line Items] | |||||
Deferred tax assets, operating loss carryforwards | ¥ 53,000 | [4] | ¥ 86,000 | [5] | |
[1] | The amount includes ¥281,403 million and ¥268,544 million related to MHFG's net operating loss carryforwards resulting mainly from intercompany capital transactions as of March 31, 2015 and 2016, respectively. The tax effect of the net operating loss carryforwards is offset by a full valuation allowance because MHFG experienced a significant expiration of net operating loss carryforwards of ¥1,262 billion in March 2013, which is negative evidence outweighing any positive evidence. Furthermore, MHFG is a holding company whose primary sources of future taxable income are management fees from subsidiaries that are not sufficient to realize deferred tax assets related to the net operating loss carryforwards. | ||||
[2] | ¥265 billion of the Japan net operating losses of ¥270 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. | ||||
[3] | ¥279 billion of the Japan net operating losses of ¥286 billion is related to MHFG, which is offset by a full valuation allowance, and will expire during the fiscal year ending March 31, 2018. | ||||
[4] | The United Kingdom net operating losses of ¥53 billion may be carried forward indefinitely. | ||||
[5] | The United Kingdom net operating losses of ¥86 billion may be carried forward indefinitely. |
Income Taxes (Roll-Forward of V
Income Taxes (Roll-Forward of Valuation Allowance) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Valuation Allowance [Line Items] | |||
Balance at beginning of fiscal year | ¥ 388,551 | ¥ 443,847 | ¥ 584,665 |
Changes that directly affected Income tax expense | (1,897) | (4,444) | (44,620) |
Expiration of net operating loss carryforwards | (6,313) | ||
Others | (46,732) | (50,852) | (89,885) |
Total | (46,732) | (50,852) | (96,198) |
Balance at end of fiscal year | ¥ 339,922 | ¥ 388,551 | ¥ 443,847 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Income Taxes [Line Items] | ||||
Changes that directly affected the Income tax expense | ¥ 1,897 | ¥ 4,444 | ¥ 44,620 | |
Others | 46,732 | 50,852 | 89,885 | |
Net operating loss carryforwards | 1,233,000 | |||
Unrecognized tax benefits, interest and penalties | 506 | 517 | 699 | |
Unrecognized tax benefits | 1,300 | ¥ 1,632 | ¥ 1,691 | ¥ 1,454 |
Parent Company | ||||
Income Taxes [Line Items] | ||||
Net operating loss carryforwards | ¥ 877,000 | |||
Operating loss carryforwards, expiration date | Mar. 31, 2018 | |||
Parent Company | Previous Intragroup reorganization | ||||
Income Taxes [Line Items] | ||||
Net operating loss carryforwards | ¥ 865,000 | |||
Japan | ||||
Income Taxes [Line Items] | ||||
Open tax year | 2,008 | |||
United States of America | ||||
Income Taxes [Line Items] | ||||
Open tax year | 2,002 | |||
United Kingdom | ||||
Income Taxes [Line Items] | ||||
Open tax year | 2,002 |
Income Taxes (Net Operating Los
Income Taxes (Net Operating Losses Carryforwards by Expiration Date) (Detail) ¥ in Billions | Mar. 31, 2016JPY (¥) |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | ¥ 1,233 |
2,018 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 865 |
2,019 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 4 |
2022 and Thereafter | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | ¥ 364 |
Income Taxes (Roll-Forward of U
Income Taxes (Roll-Forward of Unrecognized Tax Benefits) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Contingency [Line Items] | |||
Total unrecognized tax benefits at beginning of fiscal year | ¥ 1,632 | ¥ 1,691 | ¥ 1,454 |
Gross amount of increases (decreases) related to positions taken during prior years | (415) | (37) | (6) |
Gross amount of increases related to positions taken during the current year | 181 | 346 | 100 |
Amount of decreases related to settlements | (652) | ||
Foreign exchange translation | (98) | 284 | 143 |
Total unrecognized tax benefits at end of fiscal year | ¥ 1,300 | ¥ 1,632 | ¥ 1,691 |
Pension and Other Employee B140
Pension and Other Employee Benefit Plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plans, costs recognized in respect of contributions to the plans | ¥ 2,820 | ¥ 2,444 | ¥ 2,487 |
Amounts in accumulated other comprehensive income (loss) expected to be amortized as prior service cost or benefits over the next fiscal year | 195 | ||
Amounts in accumulated other comprehensive income (loss) expected to be amortized as actuarial loss over the next fiscal year | 785 | ||
Total benefit obligations of group, decrease | ¥ (110,744) | ||
Pension plan, contribution expected to be paid during the next fiscal year | ¥ 50,000 |
Pension and Other Employee B141
Pension and Other Employee Benefit Plans (Components of Net Periodic Cost of Severance Indemnities and Pension Plans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost-benefits earned during the fiscal year | ¥ 38,032 | ¥ 33,578 | ¥ 33,429 |
Interest costs on projected benefit obligations | 10,479 | 13,060 | 20,341 |
Expected return on plan assets | (40,603) | (38,087) | (37,047) |
Amortization of prior service benefits | (195) | (195) | (195) |
Amortization of net actuarial loss (gain) | (4,108) | 150 | 7,039 |
Special termination benefits | 4,456 | 5,504 | 5,429 |
Net periodic benefit cost | ¥ 8,061 | ¥ 14,010 | ¥ 28,996 |
Pension and Other Employee B142
Pension and Other Employee Benefit Plans (Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) Before-Tax) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial gain (loss) | ¥ (160,132) | ¥ 246,523 |
Amortization of net actuarial loss (gain) | (4,108) | 150 |
Amortization of prior service benefits | (195) | (195) |
Total recognized in other comprehensive income (loss) before-tax | ¥ (164,435) | ¥ 246,478 |
Pension and Other Employee B143
Pension and Other Employee Benefit Plans (Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost) (Detail) | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Weighted-average assumptions used to determine benefit obligations at fiscal year end: | |||
Discount rates | 0.37% | 0.76% | 0.96% |
Weighted-average assumptions used to determine net periodic benefit cost during the year: | |||
Discount rates | 0.76% | 0.96% | 1.44% |
Expected rates of return on plan assets | 1.95% | 2.17% | 2.42% |
Minimum | |||
Weighted-average assumptions used to determine benefit obligations at fiscal year end: | |||
Rates of increase in future compensation levels | 1.80% | 2.00% | 2.00% |
Weighted-average assumptions used to determine net periodic benefit cost during the year: | |||
Rates of increase in future compensation levels | 2.00% | 2.00% | 2.31% |
Maximum | |||
Weighted-average assumptions used to determine benefit obligations at fiscal year end: | |||
Rates of increase in future compensation levels | 4.80% | 4.80% | 4.80% |
Weighted-average assumptions used to determine net periodic benefit cost during the year: | |||
Rates of increase in future compensation levels | 4.80% | 4.80% | 6.57% |
Pension and Other Employee B144
Pension and Other Employee Benefit Plans (Combined Funded Status and Amounts Recognized in Accompanying Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |||
Change in benefit obligations: | |||||
Benefit obligations at beginning of fiscal year | ¥ 1,392,459 | [1] | ¥ 1,320,690 | ||
Service cost | 38,032 | 33,578 | ¥ 33,429 | ||
Interest cost | 10,479 | 13,060 | 20,341 | ||
Plan participants' contributions | 1,192 | 1,179 | |||
Actuarial loss (gain) | 125,122 | 86,780 | |||
Foreign exchange translation | (4,054) | 2,444 | |||
Benefits paid | (51,392) | (50,266) | |||
Lump-sum payments | (16,630) | (15,006) | |||
Benefit obligations at end of fiscal year | 1,495,208 | [1] | 1,392,459 | [1] | 1,320,690 |
Change in plan assets: | |||||
Fair value of plan assets at beginning of fiscal year | 2,081,600 | 1,706,054 | |||
Actual return (negative return) on plan assets | 5,058 | 371,694 | |||
Foreign exchange translation | (3,312) | 1,833 | |||
Employer contributions | 49,850 | 51,106 | |||
Plan participants' contributions | 1,192 | 1,179 | |||
Benefits paid | (51,392) | (50,266) | |||
Fair value of plan assets at end of fiscal year | 2,082,996 | 2,081,600 | ¥ 1,706,054 | ||
Funded status | 587,788 | 689,141 | |||
Amounts recognized in the consolidated balance sheets consist of: | |||||
Prepaid pension cost | 612,102 | 712,523 | |||
Accrued pension liability | (24,314) | (23,382) | |||
Net amount recognized | 587,788 | 689,141 | |||
Amounts recognized in Accumulated other comprehensive income (loss) before-tax consist of: | |||||
Prior service benefits (cost) | (1,025) | (830) | |||
Net actuarial gain (loss) | 57,619 | 221,859 | |||
Net amount recognized | ¥ 56,594 | ¥ 221,029 | |||
[1] | The aggregated accumulated benefit obligations of these plans were ¥1,390,738 million and ¥1,493,393 million, respectively, as of March 31, 2015 and 2016. The defined benefit plans generally employ a multi-variable and non-linear formula based upon rank and years of service. Employees with service in excess of one year are qualified to receive lump-sum severance indemnities. |
Pension and Other Employee B145
Pension and Other Employee Benefit Plans (Combined Funded Status and Amounts Recognized in Accompanying Consolidated Balance Sheets) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Aggregated accumulated benefit obligations | ¥ 1,493,393 | ¥ 1,390,738 |
Description of requirements for lump-sum severance indemnities | Employees with service in excess of one year are qualified to receive lump-sum severance indemnities. |
Pension and Other Employee B146
Pension and Other Employee Benefit Plans (Plans with Projected Benefit Obligations in Excess of Plan Assets and Plans with Accumulated Benefit Obligations in Excess of Plan Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Plans with projected benefit obligations in excess of plan assets: | |||
Projected benefit obligations | [1] | ¥ 50,554 | ¥ 51,707 |
Fair value of plan assets | 26,240 | 28,325 | |
Plans with accumulated benefit obligations in excess of plan assets: | |||
Accumulated benefit obligations | 48,738 | 49,986 | |
Fair value of plan assets | ¥ 26,240 | ¥ 28,325 | |
[1] | The plans with projected benefit obligations in excess of plan assets include those with accumulated benefit obligations in excess of plan assets. |
Pension and Other Employee B147
Pension and Other Employee Benefit Plans (Target Allocation for Plan Assets Excluding those of Employee Retirement Benefit Trusts) (Detail) | 12 Months Ended | |
Mar. 31, 2016 | ||
Asset category | ||
Plan assets | 100.00% | |
General Account Assets | ||
Asset category | ||
Plan assets | 14.00% | [1] |
Other assets | ||
Asset category | ||
Plan assets | 2.00% | |
Japan | Equity securities | ||
Asset category | ||
Plan assets | 5.00% | |
Japan | Debt securities | ||
Asset category | ||
Plan assets | 44.00% | |
Foreign | Equity securities | ||
Asset category | ||
Plan assets | 25.00% | |
Foreign | Debt securities | ||
Asset category | ||
Plan assets | 10.00% | |
[1] | General account of life insurance companies is a contract with life insurance companies which guarantees payments of principal and predetermined interest rates. |
Pension and Other Employee B148
Pension and Other Employee Benefit Plans (Fair Value of Plan Assets by Asset Category) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | ¥ 2,082,996 | ¥ 2,081,600 | ¥ 1,706,054 | |
General account of life insurance companies | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [1] | 121,000 | 118,000 | |
Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 3,000 | 3,000 | ||
Other Invested Assets | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 40,000 | 87,000 | ||
Japan | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [2] | 1,115,000 | 1,085,000 | |
Japan | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 61,000 | 74,000 | |
Japan | Pooled funds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 84,000 | 73,000 | |
Japan | Government bonds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 262,000 | 240,000 | ||
Japan | Other | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 32,000 | 28,000 | ||
Foreign | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 102,000 | 110,000 | ||
Foreign | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 154,000 | 162,000 | |
Foreign | Pooled funds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 13,000 | 13,000 | |
Foreign | Government bonds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 78,000 | 73,000 | ||
Foreign | Other | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 18,000 | 16,000 | ||
Level 1 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 1,600,000 | 1,606,000 | ||
Level 1 | Other Invested Assets | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [4] | 44,000 | 84,000 | |
Level 1 | Japan | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [2] | 1,114,000 | 1,085,000 | |
Level 1 | Japan | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 10,000 | 9,000 | |
Level 1 | Japan | Government bonds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 262,000 | 240,000 | ||
Level 1 | Foreign | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 98,000 | 106,000 | ||
Level 1 | Foreign | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 16,000 | ||
Level 1 | Foreign | Government bonds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 72,000 | 66,000 | ||
Level 2 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 480,000 | 473,000 | ||
Level 2 | General account of life insurance companies | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [1] | 121,000 | 118,000 | |
Level 2 | Other Invested Assets | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [5] | (4,000) | 3,000 | |
Level 2 | Japan | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [2] | 1,000 | ||
Level 2 | Japan | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 51,000 | 65,000 | |
Level 2 | Japan | Pooled funds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 84,000 | 73,000 | |
Level 2 | Japan | Other | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 32,000 | 28,000 | ||
Level 2 | Foreign | Common stocks | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 4,000 | 4,000 | ||
Level 2 | Foreign | Pooled funds | Equity securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 154,000 | 146,000 | |
Level 2 | Foreign | Pooled funds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | [3] | 13,000 | 13,000 | |
Level 2 | Foreign | Government bonds | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 6,000 | 7,000 | ||
Level 2 | Foreign | Other | Debt securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 18,000 | 16,000 | ||
Level 3 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | 3,000 | 3,000 | ||
Level 3 | Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair values of plan assets | ¥ 3,000 | ¥ 3,000 | ||
[1] | Investments in this class are measured at conversion value. | |||
[2] | This class represents equity securities held in the employee retirement benefit trusts of ¥1,085 billion and ¥1,115 billion at March 31, 2015 and 2016, respectively, which are well-diversified across industries. | |||
[3] | These classes primarily include pension investment fund trusts. Investments in these classes are generally measured at their net asset values per share and can be redeemed within a short-term period upon request. | |||
[4] | Amounts primarily include cash and short-term assets carried at fair value. | |||
[5] | Amounts primarily include foreign exchange contracts carried at fair value. |
Pension and Other Employee B149
Pension and Other Employee Benefit Plans (Fair Value of Plan Assets by Asset Category) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Equity securities held in the employee retirement benefit trusts | ¥ 2,082,996 | ¥ 2,081,600 | ¥ 1,706,054 | |
Equity securities | Japan | Common stocks | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Equity securities held in the employee retirement benefit trusts | [1] | 1,115,000 | 1,085,000 | |
Equity securities | Japan | Trust for Benefit of Employees | Common stocks | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Equity securities held in the employee retirement benefit trusts | ¥ 1,115,000 | ¥ 1,085,000 | ||
[1] | This class represents equity securities held in the employee retirement benefit trusts of ¥1,085 billion and ¥1,115 billion at March 31, 2015 and 2016, respectively, which are well-diversified across industries. |
Pension and Other Employee B150
Pension and Other Employee Benefit Plans (Forecasted Benefit Payments Including Effect of Expected Future Service) (Detail) ¥ in Millions | Mar. 31, 2016JPY (¥) |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | ¥ 66,777 |
2,018 | 68,373 |
2,019 | 69,634 |
2,020 | 70,856 |
2,021 | 71,263 |
2022-2026 | ¥ 350,152 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation plan, exercise price per share | ¥ 0 | ||
Stock-based compensation plan, weighted-average grant-date fair value | ¥ 186,990 | ¥ 192,610 | |
Stock-based compensation plan, compensation cost recognized in income | ¥ 1,795 | ¥ 1,527 | |
MHFG Stock Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation plan, shares of common stock to be issued or transferred upon exercise of each of the stock acquisition rights | 1,000 | ||
Stock-based compensation plan, exercise price per share | ¥ 1 | ||
Stock-based compensation plan, contractual term (in years) | 20 years |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary of Stock-Based Compensation Plan) (Detail) ¥ / shares in Units, ¥ in Millions | 12 Months Ended |
Mar. 31, 2016JPY (¥)¥ / sharesshares | |
Number of shares | |
Outstanding at beginning of fiscal year | shares | 23,958,000 |
Exercised during fiscal year | shares | 6,768,000 |
Outstanding at end of fiscal year | shares | 17,190,000 |
Exercisable at end of fiscal year | shares | 0 |
Weighted-average exercise price | |
Outstanding at beginning of fiscal year | ¥ / shares | ¥ 1 |
Exercised during fiscal year | ¥ / shares | 1 |
Outstanding at end of fiscal year | ¥ / shares | 1 |
Exercisable at end of fiscal year | ¥ / shares | ¥ 0 |
Weighted-average remaining contractual term | |
Outstanding at end of fiscal year | 17 years 5 months 16 days |
Exercisable at end of fiscal year | 0 years |
Aggregate intrinsic value | |
Outstanding at end of fiscal year | ¥ | ¥ 2,872 |
Exercisable at end of fiscal year | ¥ | ¥ 0 |
Stock-Based Compensation (Assum
Stock-Based Compensation (Assumptions to Estimate Fair Value of Stock Acquisition Rights on Date of Grant Used in Black-Scholes Option Pricing Model) (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Risk-free interest rate | 0.01% |
Expected volatility | 25.91% |
Expected remaining term (in years) | 2 years 5 months 16 days |
Expected dividend yield | 3.42% |
Stock-Based Compensation (Perfo
Stock-Based Compensation (Performance-Based Stock Compensation) - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Performance-based stock compensation, recognition period | 3 years |
Derivative Financial Instrum155
Derivative Financial Instruments (Notional and Fair Value Amounts of Derivative Instruments Outstanding) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 | |
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | ¥ 1,216,037 | ¥ 1,265,644 |
Interest rate contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 1,066,252 | 1,115,149 |
Foreign exchange contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 141,517 | 142,428 |
Equity-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 3,115 | 2,767 |
Credit-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 4,826 | 4,967 |
Other contracts | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | [1] | 327 | 333 |
Designated as Hedging Instrument | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 22 | 3 |
Fair value of derivative payables | [2] | 1 | 25 |
Designated as Hedging Instrument | Foreign exchange contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 4 | 3 |
Fair value of derivative payables | [2] | 1 | 3 |
Designated as Hedging Instrument | Equity-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 18 | |
Fair value of derivative payables | [2] | 22 | |
Not Designated as Hedging Instrument | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 14,902 | 13,491 |
Fair value of derivative payables | [2] | 14,480 | 13,246 |
Not Designated as Hedging Instrument | Interest rate contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 11,522 | 9,612 |
Fair value of derivative payables | [2] | 11,269 | 9,374 |
Not Designated as Hedging Instrument | Foreign exchange contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 3,126 | 3,602 |
Fair value of derivative payables | [2] | 2,979 | 3,604 |
Not Designated as Hedging Instrument | Equity-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 152 | 197 |
Fair value of derivative payables | [2] | 140 | 199 |
Not Designated as Hedging Instrument | Credit-related contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 43 | 42 |
Fair value of derivative payables | [2] | 37 | 36 |
Not Designated as Hedging Instrument | Other contracts | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative receivables | [2] | 59 | 38 |
Fair value of derivative payables | [2] | ¥ 55 | ¥ 33 |
[1] | Notional amount includes the sum of gross long and gross short third-party contracts. | ||
[2] | Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively. |
Derivative Financial Instrum156
Derivative Financial Instruments - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 |
Derivative [Line Items] | ||
Cash collateral provided and not offset against derivative positions and included in Other assets | ¥ 884,651 | ¥ 673,511 |
Cash collateral accepted and not offset against derivative positions and included in Other liabilities | ¥ 715,894 | ¥ 737,032 |
Derivative Financial Instrum157
Derivative Financial Instruments (Gains and Losses Information Related to Fair Value Hedges) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income- Derivatives | ¥ 14,623 | ¥ (29,666) | ¥ 801 |
Gains (losses) recorded in income- Hedged items | (18,224) | 28,005 | (1,112) |
Gains (losses) recorded in income- Hedge ineffectiveness | 0 | 0 | 0 |
Gains (losses) recorded in income- Net gain (loss) excluded from assessment of effectiveness | (3,601) | (1,661) | (311) |
Equity-related contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recorded in income- Derivatives | 14,623 | (29,666) | 801 |
Gains (losses) recorded in income- Hedged items | (18,224) | 28,005 | (1,112) |
Gains (losses) recorded in income- Hedge ineffectiveness | 0 | 0 | 0 |
Gains (losses) recorded in income- Net gain (loss) excluded from assessment of effectiveness | ¥ (3,601) | ¥ (1,661) | ¥ (311) |
Derivative Financial Instrum158
Derivative Financial Instruments (Gains and Losses Information Related to Net Investment Hedges) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Effective portion recorded in OCI | ¥ 46,697 | ¥ (53,252) | ¥ (102,150) |
Ineffective portion recorded in income | 696 | (2,678) | (7,316) |
Financial instruments hedging foreign exchange risk | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Effective portion recorded in OCI | 46,697 | (53,252) | (102,150) |
Ineffective portion recorded in income | ¥ 696 | ¥ (2,678) | ¥ (7,316) |
Derivative Financial Instrum159
Derivative Financial Instruments (Gains and Losses Information Related to Net Investment Hedges) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 |
Financial instruments hedging foreign exchange risk | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Accumulated other comprehensive income reclassified to earnings | ¥ 345 | ¥ 0 | ¥ 0 |
Derivative Financial Instrum160
Derivative Financial Instruments (Gains and Losses on Derivatives Not Designated or Qualifying as Hedges) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | ¥ 400,952 | ¥ 53,758 | ¥ (148,643) | |
Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | 319,225 | 265,324 | (79,562) | |
Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | 65,101 | (93,601) | (13,167) | |
Equity-related contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | [1] | 21,571 | (100,326) | (41,296) |
Credit-related contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | [2] | (6,960) | (18,007) | (7,761) |
Other contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | ¥ 2,015 | ¥ 368 | ¥ (6,857) | |
[1] | The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is not included in the above table. | |||
[2] | Amounts include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. |
Derivative Financial Instrum161
Derivative Financial Instruments (Gains and Losses on Derivatives Not Designated or Qualifying as Hedges) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | ¥ 400,952 | ¥ 53,758 | ¥ (148,643) | |
Credit-related contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | [1] | (6,960) | (18,007) | (7,761) |
Loans related to credit derivatives | Credit-related contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recorded in income | ¥ (5,230) | ¥ (2,836) | ¥ (8,660) | |
[1] | Amounts include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. |
Derivative financial instrum162
Derivative financial instruments (Notional and Fair Value Amounts of Credit Derivatives) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Credit protection written | ||
Credit Derivatives [Line Items] | ||
Notional amount | ¥ 2,366 | ¥ 2,441 |
Fair value | 15 | 34 |
Credit protection written | Investment grade | ||
Credit Derivatives [Line Items] | ||
Notional amount | 1,603 | 1,619 |
Fair value | 14 | 29 |
Credit protection written | Non-investment grade | ||
Credit Derivatives [Line Items] | ||
Notional amount | 763 | 822 |
Fair value | 1 | 5 |
Credit protection purchased | ||
Credit Derivatives [Line Items] | ||
Notional amount | 2,592 | 2,626 |
Fair value | ¥ (9) | ¥ (28) |
Derivative financial instrum163
Derivative financial instruments (Maximum Potential Amount of Future Payments for Credit Protection Written by Expiration Period) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | ¥ 2,366 | ¥ 2,441 |
One year or less | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | 538 | 343 |
After one year through five years | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | 1,729 | 2,032 |
After five years | ||
Credit Derivatives [Line Items] | ||
Maximum payout/Notional amount | ¥ 99 | ¥ 66 |
Derivative financial instrum164
Derivative financial instruments (Aggregate Fair Value of Derivative Instruments) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Credit Derivatives [Line Items] | ||
Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions | ¥ 790 | ¥ 799 |
Collateral provided to counterparties in normal course of business | 746 | 755 |
Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered | ¥ 44 | ¥ 44 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Line Items] | |||
Carrying amount of guarantees and similar obligations | ¥ 357,000 | ¥ 493,000 | |
Carrying amounts of derivatives that are deemed to guarantees | 336,000 | 472,000 | |
Total rental expense | ¥ 118,400 | 109,390 | ¥ 95,941 |
Sale Leaseback transactions accounted as an operating leases, minimum lease back periods | 5 years | ||
Sale Leaseback transactions accounted as an operating leases, maximum lease back periods | 10 years | ||
Sale Leaseback transactions accounted as an operating leases, total rental payment for the whole period in the original contracts | ¥ 214,690 | ||
Sale Leaseback transactions accounted as an operating leases, total rental payment for the whole period in the current contracts | 282,832 | ||
Sale Leaseback transactions accounted as an operating leases, future minimum rental payments | 49,883 | 58,336 | ¥ 69,556 |
Off-balance Sheet instruments | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Allowance for losses on off-balance-sheet instruments | ¥ 100,000 | ¥ 118,000 |
Commitments and contingencie166
Commitments and contingencies (Maximum Exposure or Notional Amount Under Guarantee Contracts) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Performance guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 2,110 | ¥ 2,226 |
Guarantees on loans | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 297 | 325 |
Guarantees on securities | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 203 | 184 |
Other guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 1,571 | 1,556 |
Guarantees for repayment of trust principal | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 1,141 | 140 |
Liabilities of trust accounts | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 12,747 | 14,936 |
Derivative financial instruments | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 15,792 | 22,216 |
One year or less | Performance guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 1,049 | 1,147 |
One year or less | Guarantees on loans | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 117 | 103 |
One year or less | Guarantees on securities | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 67 | 149 |
One year or less | Other guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 1,206 | 1,112 |
One year or less | Guarantees for repayment of trust principal | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 1,051 | |
One year or less | Liabilities of trust accounts | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 12,537 | 14,756 |
One year or less | Derivative financial instruments | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 6,505 | 11,163 |
After one year through five years | Performance guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 909 | 815 |
After one year through five years | Guarantees on loans | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 20 | 47 |
After one year through five years | Guarantees on securities | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 136 | 35 |
After one year through five years | Other guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 325 | 360 |
After one year through five years | Guarantees for repayment of trust principal | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 63 | 110 |
After one year through five years | Liabilities of trust accounts | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 79 | 51 |
After one year through five years | Derivative financial instruments | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 8,032 | 9,754 |
After five years | Performance guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 152 | 264 |
After five years | Guarantees on loans | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 160 | 175 |
After five years | Other guarantees | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 40 | 84 |
After five years | Guarantees for repayment of trust principal | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 27 | 30 |
After five years | Liabilities of trust accounts | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | 131 | 129 |
After five years | Derivative financial instruments | ||
Guarantor Obligations [Line Items] | ||
Maximum potential/Contractual or Notional amount | ¥ 1,255 | ¥ 1,299 |
Commitments and Contingencie167
Commitments and Contingencies (Maximum Potential Amount of Future Payments of Certain Guarantees Classified Based on Internal Ratings) (Detail) - Performance guarantees, Guarantees on loans, Guarantees on securities and Other guarantees - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 | |
Guarantor Obligations [Line Items] | |||
Maximum potential/Contractual or Notional amount | ¥ 4,182 | ¥ 4,291 | |
Investment grade | |||
Guarantor Obligations [Line Items] | |||
Maximum potential/Contractual or Notional amount | [1] | 3,160 | 3,267 |
Non-investment grade | |||
Guarantor Obligations [Line Items] | |||
Maximum potential/Contractual or Notional amount | ¥ 1,022 | ¥ 1,024 | |
[1] | Investment grade in the internal rating scale generally corresponds to BBB- or above in the external rating scale. |
Commitments and Contingencie168
Commitments and Contingencies (Contractual Amounts With Regard to Undrawn Commitments) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | ¥ 76,190 | ¥ 72,334 | |
Commitments to Extend Credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | [1] | 75,742 | 71,750 |
Commercial letters of credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Off-balance-sheet instruments, contractual amounts of the undrawn commitments | ¥ 448 | ¥ 584 | |
[1] | Commitments to extend credit include commitments to invest in securities. |
Commitments and Contingencie169
Commitments and Contingencies (Future Minimum Lease Payments for Capitalized Leases and Rental Payments for Operating Leases) (Detail) ¥ in Millions | Mar. 31, 2016JPY (¥) |
Capitalized leases | |
2,017 | ¥ 10,053 |
2,018 | 9,075 |
2,019 | 8,290 |
2,020 | 6,330 |
2,021 | 3,841 |
2022 and thereafter | 1,384 |
Total minimum lease/rental payments | 38,973 |
Amount representing interest | 1,162 |
Present value of minimum lease payments | 37,811 |
Operating leases | |
2,017 | 53,117 |
2,018 | 46,086 |
2,019 | 40,736 |
2,020 | 36,399 |
2,021 | 33,830 |
2022 and thereafter | 66,720 |
Total minimum lease/rental payments | ¥ 276,888 |
Variable Interest Entities a170
Variable Interest Entities and Securitizations (Consolidated Assets of Groups Consolidated VIEs as well as Total Assets and Maximum Exposure to Loss for Its Significant Unconsolidated VIEs) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | ¥ 4,692 | ¥ 5,885 |
Significant unconsolidated VIEs- Total assets | 3,072 | 2,830 |
Significant unconsolidated VIEs- Maximum exposure to loss | 534 | 474 |
Asset-backed commercial paper/loan programs | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 2,092 | 2,610 |
Asset-backed securitizations | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 579 | 427 |
Significant unconsolidated VIEs- Total assets | 205 | 291 |
Significant unconsolidated VIEs- Maximum exposure to loss | 13 | 19 |
Investments in securitization products | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 337 | 338 |
Significant unconsolidated VIEs- Total assets | 445 | 445 |
Significant unconsolidated VIEs- Maximum exposure to loss | 154 | 154 |
Investment funds | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | 1,660 | 2,483 |
Significant unconsolidated VIEs- Total assets | 2,422 | 2,094 |
Significant unconsolidated VIEs- Maximum exposure to loss | 367 | 301 |
Trust arrangements and other | ||
Variable Interest Entity [Line Items] | ||
Consolidated VIEs- Consolidated assets | ¥ 24 | ¥ 27 |
Variable Interest Entities a171
Variable Interest Entities and Securitizations (Carrying Amounts and Classification of Assets and Liabilities on MHFG Group's Balance Sheets that Relate to its Variable Interests in Significant Unconsolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Assets on balance sheets related to unconsolidated VIEs: | ||||
Trading account assets | ¥ 30,020,743 | ¥ 29,416,024 | ||
Loans | 77,104,122 | 77,528,017 | ||
Total | 193,815,546 | 190,119,734 | ¥ 175,699,300 | |
Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: | ||||
Payables under securities lending transactions | 2,844,653 | 2,462,315 | ||
Trading account liabilities | 17,111,142 | 16,471,857 | ||
Total | 185,632,355 | 181,929,890 | ||
Maximum exposure to loss | 534,000 | 474,000 | ||
Unconsolidated VIEs | ||||
Assets on balance sheets related to unconsolidated VIEs: | ||||
Trading account assets | 55,000 | 60,000 | ||
Investments | 254,000 | 187,000 | ||
Loans | 205,000 | 217,000 | ||
Total | 514,000 | 464,000 | ||
Liabilities on balance sheets and maximum exposure to loss related to unconsolidated VIEs: | ||||
Payables under securities lending transactions | 27,000 | 19,000 | ||
Trading account liabilities | 1,000 | |||
Total | 28,000 | 19,000 | ||
Maximum exposure to loss | [1] | ¥ 534,000 | ¥ 474,000 | |
[1] | This represents the amount the Group could be required to record in its consolidated statements of income associated with on-balance-sheet exposures and off-balance-sheet liabilities such as undrawn commitments. |
Variable Interest Entities a172
Variable Interest Entities and Securitizations - Additional Information (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Assets associated with securitization transactions | ||
Variable Interest Entity [Line Items] | ||
Transferred assets continue to be carried on the consolidated balance sheets | ¥ 243 | ¥ 220 |
Assets associated with loan participation transactions | ||
Variable Interest Entity [Line Items] | ||
Transferred assets continue to be carried on the consolidated balance sheets | ¥ 64 | ¥ 83 |
Fee and Commission Income (Deta
Fee and Commission Income (Details of Fees and Commissions Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Principal Transaction Revenue [Line Items] | |||
Securities-related business | ¥ 175,723 | ¥ 172,234 | ¥ 170,311 |
Deposits and lending business | 143,763 | 131,491 | 114,073 |
Remittance business | 109,859 | 110,181 | 108,534 |
Trust fees | 50,496 | 49,827 | 48,914 |
Fees for other customer services | 263,112 | 251,924 | 233,931 |
Total | ¥ 742,953 | ¥ 715,657 | ¥ 675,763 |
Trading Account Gains and Lo174
Trading Account Gains and Losses (Net Trading Gains and Losses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | ¥ 559,139 | ¥ 689,959 | ¥ (59,687) | |
Foreign exchange gains (losses)-net | [1] | 113,553 | (34,520) | 25,631 |
Net trading gains (losses) | 672,692 | 655,439 | (34,056) | |
Interest rate contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | [2] | 319,225 | 265,324 | (79,562) |
Foreign exchange contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | 65,101 | (93,601) | (13,167) | |
Equity-related contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | [2] | 17,970 | (101,988) | (41,607) |
Credit-related contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | [3] | (1,731) | (15,171) | 899 |
Other contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | 2,015 | 368 | (6,856) | |
Trading securities | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Trading account gains (losses)-net | ¥ 156,559 | ¥ 635,027 | ¥ 80,606 | |
[1] | Amounts include realized and unrealized gains and losses on both derivative instruments and nonderivative instruments, such as translation gains and losses related to foreign currency-denominated available-for-sale securities for which the fair value option has been elected in accordance with ASC 825. | |||
[2] | The net gain (loss) excluded from the assessment of the effectiveness of fair value hedges is included in the above table. | |||
[3] | Amounts do not include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. The net loss is recorded in Other noninterest expenses. |
Trading Account Gains and Lo175
Trading Account Gains and Losses (Net Trading Gains and Losses) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Gains (losses) recorded in income | ¥ 400,952 | ¥ 53,758 | ¥ (148,643) | |
Credit-related contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Gains (losses) recorded in income | [1] | (6,960) | (18,007) | (7,761) |
Loans related to credit derivatives | Credit-related contracts | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Gains (losses) recorded in income | ¥ (5,230) | ¥ (2,836) | ¥ (8,660) | |
[1] | Amounts include the net loss of ¥8,660 million, ¥2,836 million and ¥5,230 million on the credit derivatives hedging the credit risk of loans during the fiscal years ended March 31, 2014, 2015 and 2016, respectively. |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Carrying amounts of other equity interests of which fair value is not readily determinable | ¥ 313 | ¥ 450 |
Investment funds | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Underlying assets, estimated remaining liquidation period | 10 years | |
Derivative liabilities | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Fair value of liabilities transferred out of Level 3 | 1 | |
Long-term debt | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Fair value of liabilities transferred into Level 3 | ¥ 8 | 3 |
Fair value of liabilities transferred out of Level 3 | 2 | |
Senior borrowings and bonds | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
The differences between the aggregate fair value and aggregate unpaid principal balance of the notes for which the fair value option has been elected | 20 | 6 |
Net unrealized gains (losses) resulting from changes in fair values of the notes | 14 | (8) |
Trading securities | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Fair value of assets transferred into Level 3 | 25 | 4 |
Fair value of assets transferred out of Level 3 | 34 | ¥ 24 |
Available-for-sale securities | ||
Fair Value, Estimate Not Practicable, Financial Statement Captions [Line Items] | ||
Fair value of assets transferred into Level 3 | ¥ 23 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities Measured at Fair Value on Recurring Basis Including those for Which MHFG Group has Elected Fair Value Option) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Assets: | |||
Available-for-sale securities | ¥ 25,452,525 | ¥ 27,070,710 | |
Liabilities: | |||
Long-term debt | 1,055,626 | 739,727 | |
Fair Value, Measurements, Recurring | |||
Assets: | |||
Other investments | 42,000 | 53,000 | |
Total assets measured at fair value | [1] | 55,516,000 | 56,540,000 |
Liabilities: | |||
Trading securities sold, not yet purchased | 2,630,000 | 3,201,000 | |
Long-term debt | [2] | 1,056,000 | 740,000 |
Total liabilities measured at fair value | 18,167,000 | 17,212,000 | |
Fair Value, Measurements, Recurring | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 11,522,000 | 9,612,000 | |
Liabilities: | |||
Liabilities, derivatives | 11,269,000 | 9,374,000 | |
Fair Value, Measurements, Recurring | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 3,130,000 | 3,605,000 | |
Liabilities: | |||
Liabilities, derivatives | 2,980,000 | 3,607,000 | |
Fair Value, Measurements, Recurring | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 170,000 | 197,000 | |
Liabilities: | |||
Liabilities, derivatives | 140,000 | 221,000 | |
Fair Value, Measurements, Recurring | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 43,000 | 42,000 | |
Liabilities: | |||
Liabilities, derivatives | 37,000 | 36,000 | |
Fair Value, Measurements, Recurring | Other contracts | |||
Assets: | |||
Assets, derivatives | 59,000 | 38,000 | |
Liabilities: | |||
Liabilities, derivatives | 55,000 | 33,000 | |
Fair Value, Measurements, Recurring | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 2,303,000 | 1,712,000 |
Available-for-sale securities | 15,763,000 | 17,414,000 | |
Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 79,000 | 72,000 |
Available-for-sale securities | 241,000 | 239,000 | |
Fair Value, Measurements, Recurring | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 3,806,000 | 4,893,000 |
Available-for-sale securities | 438,000 | 117,000 | |
Fair Value, Measurements, Recurring | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 2,565,000 | 2,437,000 |
Available-for-sale securities | 942,000 | 966,000 | |
Fair Value, Measurements, Recurring | Agency mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 1,558,000 | 1,508,000 |
Available-for-sale securities | 949,000 | 822,000 | |
Fair Value, Measurements, Recurring | Residential mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 21,000 | 29,000 |
Available-for-sale securities | 210,000 | 263,000 | |
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 4,000 | 6,000 |
Available-for-sale securities | 187,000 | 169,000 | |
Fair Value, Measurements, Recurring | Certificates of deposit and commercial paper | |||
Assets: | |||
Assets, trading securities | [3] | 881,000 | 813,000 |
Fair Value, Measurements, Recurring | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3] | 2,422,000 | 2,483,000 |
Fair Value, Measurements, Recurring | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 1,458,000 | 1,969,000 |
Fair Value, Measurements, Recurring | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 2,095,000 | 1,942,000 | |
Fair Value, Measurements, Recurring | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 847,000 | 742,000 | |
Fair Value, Measurements, Recurring | Equity securities (marketable) | |||
Assets: | |||
Available-for-sale securities | 3,781,000 | 4,397,000 | |
Fair Value, Measurements, Recurring | Level 1 | |||
Assets: | |||
Total assets measured at fair value | [1] | 29,833,000 | 32,551,000 |
Liabilities: | |||
Trading securities sold, not yet purchased | 2,482,000 | 2,856,000 | |
Total liabilities measured at fair value | 2,666,000 | 3,018,000 | |
Fair Value, Measurements, Recurring | Level 1 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 97,000 | 71,000 | |
Liabilities: | |||
Liabilities, derivatives | 98,000 | 74,000 | |
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 23,000 | 17,000 | |
Liabilities: | |||
Liabilities, derivatives | 26,000 | 14,000 | |
Fair Value, Measurements, Recurring | Level 1 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 46,000 | 58,000 | |
Liabilities: | |||
Liabilities, derivatives | 60,000 | 73,000 | |
Fair Value, Measurements, Recurring | Level 1 | Other contracts | |||
Assets: | |||
Assets, derivatives | 1,000 | ||
Liabilities: | |||
Liabilities, derivatives | 1,000 | ||
Fair Value, Measurements, Recurring | Level 1 | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 2,272,000 | 1,680,000 |
Available-for-sale securities | 15,037,000 | 16,672,000 | |
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 3,729,000 | 4,759,000 |
Available-for-sale securities | 438,000 | 117,000 | |
Fair Value, Measurements, Recurring | Level 1 | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 2,192,000 | 2,093,000 |
Available-for-sale securities | 352,000 | 415,000 | |
Fair Value, Measurements, Recurring | Level 1 | Agency mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 995,000 | 1,132,000 |
Available-for-sale securities | 169,000 | 87,000 | |
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3] | 9,000 | 42,000 |
Fair Value, Measurements, Recurring | Level 1 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 758,000 | 1,045,000 |
Fair Value, Measurements, Recurring | Level 1 | Equity securities (marketable) | |||
Assets: | |||
Available-for-sale securities | 3,716,000 | 4,362,000 | |
Fair Value, Measurements, Recurring | Level 2 | |||
Assets: | |||
Total assets measured at fair value | [1] | 24,140,000 | 22,572,000 |
Liabilities: | |||
Trading securities sold, not yet purchased | 148,000 | 345,000 | |
Long-term debt | [2] | 433,000 | 153,000 |
Total liabilities measured at fair value | 14,809,000 | 13,561,000 | |
Fair Value, Measurements, Recurring | Level 2 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 11,396,000 | 9,516,000 | |
Liabilities: | |||
Liabilities, derivatives | 11,168,000 | 9,293,000 | |
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 3,099,000 | 3,577,000 | |
Liabilities: | |||
Liabilities, derivatives | 2,953,000 | 3,590,000 | |
Fair Value, Measurements, Recurring | Level 2 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 95,000 | 134,000 | |
Liabilities: | |||
Liabilities, derivatives | 56,000 | 129,000 | |
Fair Value, Measurements, Recurring | Level 2 | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 40,000 | 41,000 | |
Liabilities: | |||
Liabilities, derivatives | 33,000 | 34,000 | |
Fair Value, Measurements, Recurring | Level 2 | Other contracts | |||
Assets: | |||
Assets, derivatives | 21,000 | 22,000 | |
Liabilities: | |||
Liabilities, derivatives | 18,000 | 17,000 | |
Fair Value, Measurements, Recurring | Level 2 | Japanese government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 31,000 | 32,000 |
Available-for-sale securities | 726,000 | 742,000 | |
Fair Value, Measurements, Recurring | Level 2 | Japanese local government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 79,000 | 72,000 |
Available-for-sale securities | 241,000 | 239,000 | |
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury bonds and federal agency securities | |||
Assets: | |||
Assets, trading securities | [3] | 77,000 | 134,000 |
Fair Value, Measurements, Recurring | Level 2 | Other foreign government bonds | |||
Assets: | |||
Assets, trading securities | [3] | 373,000 | 344,000 |
Available-for-sale securities | 590,000 | 551,000 | |
Fair Value, Measurements, Recurring | Level 2 | Agency mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 563,000 | 376,000 |
Available-for-sale securities | 780,000 | 735,000 | |
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities | |||
Assets: | |||
Available-for-sale securities | 87,000 | 97,000 | |
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 2,000 | 2,000 |
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit and commercial paper | |||
Assets: | |||
Assets, trading securities | [3] | 881,000 | 813,000 |
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3] | 1,693,000 | 1,802,000 |
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 641,000 | 864,000 |
Fair Value, Measurements, Recurring | Level 2 | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 1,921,000 | 1,787,000 | |
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 739,000 | 657,000 | |
Fair Value, Measurements, Recurring | Level 2 | Equity securities (marketable) | |||
Assets: | |||
Available-for-sale securities | 65,000 | 35,000 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Assets: | |||
Other investments | 42,000 | 53,000 | |
Total assets measured at fair value | [1] | 1,543,000 | 1,417,000 |
Liabilities: | |||
Long-term debt | [2] | 623,000 | 587,000 |
Total liabilities measured at fair value | 692,000 | 633,000 | |
Fair Value, Measurements, Recurring | Level 3 | Interest rate contracts | |||
Assets: | |||
Assets, derivatives | 29,000 | 25,000 | |
Liabilities: | |||
Liabilities, derivatives | 3,000 | 7,000 | |
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts | |||
Assets: | |||
Assets, derivatives | 8,000 | 11,000 | |
Liabilities: | |||
Liabilities, derivatives | 1,000 | 3,000 | |
Fair Value, Measurements, Recurring | Level 3 | Equity-related contracts | |||
Assets: | |||
Assets, derivatives | 29,000 | 5,000 | |
Liabilities: | |||
Liabilities, derivatives | 24,000 | 19,000 | |
Fair Value, Measurements, Recurring | Level 3 | Credit-related contracts | |||
Assets: | |||
Assets, derivatives | 3,000 | 1,000 | |
Liabilities: | |||
Liabilities, derivatives | 4,000 | 2,000 | |
Fair Value, Measurements, Recurring | Level 3 | Other contracts | |||
Assets: | |||
Assets, derivatives | 38,000 | 15,000 | |
Liabilities: | |||
Liabilities, derivatives | 37,000 | 15,000 | |
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 21,000 | 29,000 |
Available-for-sale securities | 123,000 | 166,000 | |
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities | |||
Assets: | |||
Assets, trading securities | [3] | 2,000 | 4,000 |
Available-for-sale securities | 187,000 | 169,000 | |
Fair Value, Measurements, Recurring | Level 3 | Corporate bonds and other debt securities | |||
Assets: | |||
Assets, trading securities | [3] | 720,000 | 639,000 |
Fair Value, Measurements, Recurring | Level 3 | Equity securities | |||
Assets: | |||
Assets, trading securities | [3] | 59,000 | 60,000 |
Fair Value, Measurements, Recurring | Level 3 | Japanese corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | 174,000 | 155,000 | |
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate bonds and other debt securities | |||
Assets: | |||
Available-for-sale securities | ¥ 108,000 | ¥ 85,000 | |
[1] | Amounts included the investments measured at the NAV per share at March 31, 2015 and 2016, of ¥878 billion and ¥682 billion, respectively, of which ¥842 billion and ¥644 billion, respectively, were classified in Level 2, and ¥36 billion and ¥38 billion, respectively, were classified in Level 3. The amounts of unfunded commitments related to these investments at March 31, 2015 and 2016 were ¥25 billion and ¥30 billion, respectively. | ||
[2] | Amounts represent items for which the Group elected the fair value option. | ||
[3] | Trading securities include foreign currency denominated securities for which the MHFG Group elected the fair value option. |
Fair Value (Assets and Liabi178
Fair Value (Assets and Liabilities Measured at Fair Value on Recurring Basis Including those for Which MHFG Group has Elected Fair Value Option) (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments measured at NAV per share | ¥ 682 | ¥ 878 |
Unfunded commitments | 30 | 25 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments measured at NAV per share | 644 | 842 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments measured at NAV per share | ¥ 38 | ¥ 36 |
Fair Value (Reconciliation for
Fair Value (Reconciliation for All Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level 3) (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Other investments | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | ¥ 53 | ¥ 69 | |
Gains (losses) in Earnings | [1] | 7 | 12 |
Purchases | 5 | 2 | |
Sales | (20) | (18) | |
Issuances | 0 | 0 | |
Settlements | (3) | (12) | |
Ending Balance | 42 | 53 | |
Change in unrealized gain (losses) still held | [2] | (7) | 8 |
Trading securities sold, not yet purchased | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Gains (losses) in OCI | 0 | 0 | |
Purchases | 5 | 3 | |
Sales | (5) | (3) | |
Long-term debt | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 587 | 501 | |
Gains (losses) in Earnings | [3] | 18 | (5) |
Gains (losses) in OCI | 0 | 0 | |
Transfers into Level 3 | 8 | 3 | |
Transfers out of level 3 | (2) | ||
Purchases | (1) | ||
Issuances | 305 | 313 | |
Settlements | (258) | (233) | |
Ending Balance | 623 | 587 | |
Change in unrealized gain (losses) still held | [2] | 19 | (4) |
Trading securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Transfers into Level 3 | 25 | 4 | |
Transfers out of level 3 | (34) | (24) | |
Trading securities | Other foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Purchases | 1 | ||
Sales | (1) | ||
Issuances | 0 | ||
Trading securities | Residential mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 29 | 78 | |
Sales | (33) | ||
Issuances | 0 | 0 | |
Settlements | (8) | (16) | |
Ending Balance | 21 | 29 | |
Trading securities | Commercial mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 4 | 91 | |
Purchases | 2 | ||
Sales | (76) | ||
Issuances | 0 | 0 | |
Settlements | (2) | (13) | |
Ending Balance | 2 | 4 | |
Trading securities | Corporate bonds and other debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 639 | 413 | |
Gains (losses) in Earnings | [4] | (43) | 62 |
Transfers into Level 3 | 25 | 4 | |
Transfers out of level 3 | (34) | (24) | |
Purchases | 452 | 561 | |
Sales | (192) | (262) | |
Issuances | 0 | 0 | |
Settlements | (127) | (115) | |
Ending Balance | 720 | 639 | |
Change in unrealized gain (losses) still held | [2] | (38) | 47 |
Trading securities | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 60 | 60 | |
Gains (losses) in Earnings | [4] | 9 | 13 |
Purchases | 12 | 6 | |
Sales | (22) | (18) | |
Issuances | 0 | 0 | |
Settlements | (1) | ||
Ending Balance | 59 | 60 | |
Change in unrealized gain (losses) still held | [2] | 1 | 3 |
Derivative assets | Interest rate contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | [5] | 18 | 17 |
Gains (losses) in Earnings | [4],[5] | (1) | (6) |
Transfers out of level 3 | [5] | 1 | |
Issuances | [5] | 0 | 0 |
Settlements | [5] | 9 | 6 |
Ending Balance | [5] | 26 | 18 |
Change in unrealized gain (losses) still held | [2],[5] | 11 | (1) |
Derivative assets | Foreign exchange contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | [5] | 8 | 11 |
Gains (losses) in Earnings | [4],[5] | (1) | (3) |
Issuances | [5] | 0 | 0 |
Ending Balance | [5] | 7 | 8 |
Change in unrealized gain (losses) still held | [2],[5] | (2) | (2) |
Derivative assets | Equity-related contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | [5] | (14) | 1 |
Gains (losses) in Earnings | [4],[5] | 22 | (12) |
Issuances | [5] | 0 | 0 |
Settlements | [5] | (3) | (3) |
Ending Balance | [5] | 5 | (14) |
Change in unrealized gain (losses) still held | [2],[5] | 14 | (12) |
Derivative assets | Credit-related contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | [5] | (1) | 17 |
Gains (losses) in Earnings | [4],[5] | (19) | |
Issuances | [5] | 0 | 0 |
Settlements | [5] | 1 | |
Ending Balance | [5] | (1) | (1) |
Derivative assets | Other contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Gains (losses) in Earnings | [4],[5] | 1 | |
Issuances | [5] | 0 | |
Ending Balance | [5] | 1 | |
Change in unrealized gain (losses) still held | [2],[5] | 1 | |
Available-for-sale securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Transfers into Level 3 | 23 | ||
Available-for-sale securities | Residential mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 166 | 220 | |
Gains (losses) in Earnings | [1] | 10 | |
Gains (losses) in OCI | [6] | (10) | |
Purchases | 16 | ||
Sales | (4) | (21) | |
Issuances | 0 | 0 | |
Settlements | (39) | (49) | |
Ending Balance | 123 | 166 | |
Available-for-sale securities | Commercial mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 169 | 161 | |
Gains (losses) in Earnings | [1] | 4 | |
Gains (losses) in OCI | [6] | (2) | |
Purchases | 102 | 77 | |
Sales | (62) | (26) | |
Issuances | 0 | 0 | |
Settlements | (22) | (45) | |
Ending Balance | 187 | 169 | |
Available-for-sale securities | Japanese corporate bonds and other debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 155 | 170 | |
Gains (losses) in Earnings | [1] | (2) | (1) |
Gains (losses) in OCI | [6] | 1 | |
Purchases | 67 | 39 | |
Sales | (3) | (8) | |
Issuances | 0 | 0 | |
Settlements | (43) | (46) | |
Ending Balance | 174 | 155 | |
Change in unrealized gain (losses) still held | [2] | (4) | |
Available-for-sale securities | Foreign corporate bonds and other debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 85 | 141 | |
Gains (losses) in Earnings | [1] | 2 | 6 |
Gains (losses) in OCI | [6] | (5) | (1) |
Transfers into Level 3 | 23 | ||
Purchases | 41 | ||
Sales | (2) | ||
Issuances | 0 | 0 | |
Settlements | (38) | (59) | |
Ending Balance | ¥ 108 | ¥ 85 | |
[1] | Gains (losses) in Earnings are reported in Investment gains (losses)-net. | ||
[2] | Amounts represent total gains or losses recognized in earnings during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at March 31, 2015 and 2016. | ||
[3] | Gains (losses) in Earnings are reported in Other noninterest income (expenses). | ||
[4] | Gains (losses) in Earnings are reported in Trading account gains (losses)-net, Foreign exchange gains (losses)-net or Other noninterest income (expenses). | ||
[5] | Total Level 3 derivative exposures have been netted on the table for presentation purposes only. | ||
[6] | Gains (losses) in OCI are reported in Other comprehensive income (loss). |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information About Level Three Fair Value Measurements) (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Available For Sale And Trading Securities | Residential mortgage-backed securities | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 144 | ¥ 195 | |
Principal valuation technique | Discounted cash flow Price-based | ||
Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Weighted Average | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | [1] | 7.00% | 7.00% |
Discount margin | [1] | 0.60% | 0.63% |
Default rate | [1] | 0.00% | 0.00% |
Recovery rate | [1] | 100.00% | 100.00% |
Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | 3.00% | 2.00% | |
Discount margin | 0.13% | 0.11% | |
Default rate | 0.00% | 0.00% | |
Recovery rate | 100.00% | 100.00% | |
Available For Sale And Trading Securities | Residential mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | 19.00% | 18.00% | |
Discount margin | 1.80% | 4.90% | |
Default rate | 2.00% | 1.00% | |
Recovery rate | 100.00% | 100.00% | |
Available For Sale And Trading Securities | Commercial mortgage-backed securities | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 189 | ¥ 173 | |
Principal valuation technique | Discounted cash flow Price-based | ||
Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Weighted Average | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | [1] | 0.37% | 0.95% |
Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | 0.06% | 0.10% | |
Available For Sale And Trading Securities | Commercial mortgage-backed securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | 5.80% | 29.22% | |
Available For Sale And Trading Securities | Corporate bonds and other debt securities | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 1,002 | ¥ 879 | |
Principal valuation technique | Discounted cash flow Price-based | ||
Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Weighted Average | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | [1],[2] | 19.00% | 21.00% |
Discount margin | [1],[2] | 1.51% | 1.12% |
Default rate | [1],[2] | 2.00% | 2.00% |
Recovery rate | [1],[2] | 68.00% | 69.00% |
Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | [2] | 0.00% | 0.00% |
Discount margin | [2] | 0.11% | 0.09% |
Default rate | [2] | 0.00% | 0.00% |
Recovery rate | [2] | 60.00% | 60.00% |
Available For Sale And Trading Securities | Corporate bonds and other debt securities | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Prepayment rate | [2] | 21.00% | 25.00% |
Discount margin | [2] | 11.15% | 12.20% |
Default rate | [2] | 2.00% | 5.00% |
Recovery rate | [2] | 69.00% | 71.00% |
Available For Sale And Trading Securities | Japanese corporate bonds and foreign corporate bonds | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Weighted Average | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | [1],[3] | 4.54% | 1.06% |
Available For Sale And Trading Securities | Japanese corporate bonds and foreign corporate bonds | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | [3] | 0.10% | (0.96%) |
Available For Sale And Trading Securities | Japanese corporate bonds and foreign corporate bonds | Discounted Cash Flow Method Or Transaction Price Valuation Technique | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount margin | [3] | 38.50% | 43.42% |
Derivative contracts | Interest rate contracts | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 26 | ¥ 18 | |
Principal valuation technique | [4] | Internal valuation model | |
Derivative contracts | Interest rate contracts | Internal Valuation Model | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
IR - IR correlation | 32.00% | 20.00% | |
Default rate | [5] | 0.00% | 0.00% |
Derivative contracts | Interest rate contracts | Internal Valuation Model | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
IR - IR correlation | 100.00% | 100.00% | |
Default rate | [5] | 63.00% | 63.00% |
Derivative contracts | Foreign exchange contracts | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 7 | ¥ 8 | |
Principal valuation technique | [4] | Internal valuation model | |
Derivative contracts | Foreign exchange contracts | Internal Valuation Model | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
FX - IR correlation | 5.00% | 9.00% | |
FX - FX correlation | 54.00% | 52.00% | |
FX volatility | 11.00% | ||
Default rate | [5] | 0.00% | 0.00% |
Derivative contracts | Foreign exchange contracts | Internal Valuation Model | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
FX - IR correlation | 50.00% | 52.00% | |
FX - FX correlation | 54.00% | 52.00% | |
FX volatility | 23.00% | ||
Default rate | [5] | 63.00% | 63.00% |
Derivative contracts | Equity-related contracts | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 5 | ¥ (14) | |
Principal valuation technique | [4] | Internal valuation model | |
Derivative contracts | Equity-related contracts | Internal Valuation Model | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Equity - IR correlation | 30.00% | 50.00% | |
Equity - FX correlation | 55.00% | 55.00% | |
Equity volatility | 10.00% | 17.00% | |
Derivative contracts | Equity-related contracts | Internal Valuation Model | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Equity - IR correlation | 30.00% | 50.00% | |
Equity - FX correlation | 55.00% | 55.00% | |
Equity volatility | 40.00% | 33.00% | |
Derivative contracts | Credit-related contracts | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ (1) | ¥ (1) | |
Principal valuation technique | [4] | Internal valuation model | |
Derivative contracts | Credit-related contracts | Internal Valuation Model | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Default rate | 0.00% | 0.00% | |
Credit correlation | 29.00% | 11.00% | |
Derivative contracts | Credit-related contracts | Internal Valuation Model | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Default rate | 42.00% | 50.00% | |
Credit correlation | 100.00% | 100.00% | |
Long-term debt | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value | ¥ 623 | ¥ 587 | |
Principal valuation technique | [4] | Internal valuation model | |
Long-term debt | Internal Valuation Model | Minimum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
IR - IR correlation | 32.00% | 20.00% | |
FX - IR correlation | 5.00% | 9.00% | |
FX - FX correlation | 54.00% | 52.00% | |
Equity - IR correlation | 30.00% | 50.00% | |
Equity - FX correlation | 55.00% | 55.00% | |
Equity correlation | 18.00% | ||
Equity volatility | 14.00% | 16.00% | |
Default rate | 0.00% | 0.00% | |
Credit correlation | 28.00% | 16.00% | |
Long-term debt | Internal Valuation Model | Maximum | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
IR - IR correlation | 100.00% | 100.00% | |
FX - IR correlation | 50.00% | 52.00% | |
FX - FX correlation | 54.00% | 52.00% | |
Equity - IR correlation | 30.00% | 50.00% | |
Equity - FX correlation | 55.00% | 55.00% | |
Equity correlation | 100.00% | ||
Equity volatility | 39.00% | 34.00% | |
Default rate | 5.00% | 15.00% | |
Credit correlation | 100.00% | 100.00% | |
[1] | Weighted averages are calculated by weighting each input by the relative fair value of the respective financial instruments. | ||
[2] | These inputs are mainly used for determining the fair values of securitization products such as CDO, CLO and ABS, other than RMBS and CMBS. | ||
[3] | This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds. | ||
[4] | Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model. | ||
[5] | This input represents the counterparty default rate derived from the MHFG Group's own internal credit analyses. |
Fair Value (Fair Value Hierarch
Fair Value (Fair Value Hierarchy for Assets and Liabilities Measured on Nonrecurring Basis) (Detail) - Fair Value, Measurements, Nonrecurring - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 |
Assets: | ||
Loans | ¥ 124 | ¥ 111 |
Loans held-for-sale | 13 | |
Other investments | 1 | 10 |
Premises and equipment-net | 1 | |
Total assets measured at fair value | 138 | 122 |
Level 1 | ||
Assets: | ||
Other investments | 9 | |
Total assets measured at fair value | 9 | |
Level 2 | ||
Assets: | ||
Loans held-for-sale | 7 | |
Total assets measured at fair value | 7 | |
Level 3 | ||
Assets: | ||
Loans | 124 | 111 |
Loans held-for-sale | 6 | |
Other investments | 1 | 1 |
Premises and equipment-net | 1 | |
Total assets measured at fair value | 131 | 113 |
Aggregate cost | ||
Assets: | ||
Loans | 197 | 193 |
Loans held-for-sale | 14 | 39 |
Other investments | 2 | 16 |
Premises and equipment-net | 1 | 8 |
Goodwill | 6 | |
Total assets measured at fair value | ¥ 220 | ¥ 256 |
Fair Value (Carrying Amounts an
Fair Value (Carrying Amounts and Fair Values of Certain Financial Instruments Excluding Financial Instruments Which Are Carried at Fair Value on a Recurring Basis and Those Outside Scope of Asc 825) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | |
Financial liabilities: | |||
Long-term debt | ¥ 1,055,626 | ¥ 739,727 | |
Carrying amount | |||
Financial assets: | |||
Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 48,757,000 | 42,467,000 | |
Investments | 4,819,000 | 5,647,000 | |
Loans, net of allowance for loan losses | [1] | 77,040,000 | 77,458,000 |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 39,908,000 | 42,100,000 | |
Interest-bearing deposits | 100,228,000 | 99,272,000 | |
Due to trust accounts | 4,467,000 | 1,241,000 | |
Other short-term borrowings | 2,080,000 | 1,583,000 | |
Long-term debt | 13,696,000 | 13,819,000 | |
Estimated fair value | |||
Financial assets: | |||
Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 48,757,000 | 42,467,000 | |
Investments | 4,873,000 | 5,678,000 | |
Loans, net of allowance for loan losses | [1] | 78,241,000 | 78,603,000 |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 39,908,000 | 42,100,000 | |
Interest-bearing deposits | 100,234,000 | 99,239,000 | |
Due to trust accounts | 4,467,000 | 1,241,000 | |
Other short-term borrowings | 2,080,000 | 1,583,000 | |
Long-term debt | 13,863,000 | 14,030,000 | |
Estimated fair value | Level 1 | |||
Financial assets: | |||
Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 923,000 | 1,152,000 | |
Investments | 4,873,000 | 5,678,000 | |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 17,223,000 | 14,481,000 | |
Interest-bearing deposits | 46,207,000 | 41,334,000 | |
Estimated fair value | Level 2 | |||
Financial assets: | |||
Cash and due from banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions | 47,834,000 | 41,315,000 | |
Financial liabilities: | |||
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions | 22,685,000 | 27,619,000 | |
Interest-bearing deposits | 54,027,000 | 57,905,000 | |
Due to trust accounts | 4,467,000 | 1,241,000 | |
Other short-term borrowings | 2,080,000 | 1,583,000 | |
Long-term debt | 12,969,000 | 13,271,000 | |
Estimated fair value | Level 3 | |||
Financial assets: | |||
Loans, net of allowance for loan losses | [1] | 78,241,000 | 78,603,000 |
Financial liabilities: | |||
Long-term debt | ¥ 894,000 | ¥ 759,000 | |
[1] | Loans, net of allowance for loan losses include items measured at fair value on a nonrecurring basis. |
Offsetting of Financial Asse183
Offsetting of Financial Assets and Financial Liabilities (Information of Offsetting of Financial Assets and Financial Liabilities) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2016 | Mar. 31, 2015 | |
Offsetting Financial Assets And Financial Liabilities [Line Items] | |||
Derivative assets, Gross amounts recognized | [1] | ¥ 14,130 | ¥ 12,679 |
Derivative assets, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Derivative assets, Net amounts presented on the balance sheet | [1],[2] | 14,130 | 12,679 |
Derivative assets, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (12,167) | (10,845) |
Derivative assets, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | (599) | (662) |
Derivative assets, Net amounts | [1] | 1,364 | 1,172 |
Receivables under resale agreements, Gross amounts recognized | [1] | 7,490 | 8,506 |
Receivables under resale agreements, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Receivables under resale agreements, Net amounts presented on the balance sheet | [1],[2] | 7,490 | 8,506 |
Receivables under resale agreements, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (7,461) | (8,462) |
Receivables under resale agreements, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | 0 | 0 |
Receivables under resale agreements, Net amounts | [1] | 29 | 44 |
Receivables under securities borrowing transactions, Gross amounts recognized | [1] | 3,327 | 4,007 |
Receivables under securities borrowing transactions, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Receivables under securities borrowing transactions, Net amounts presented on the balance sheet | [1],[2] | 3,327 | 4,007 |
Receivables under securities borrowing transactions, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (3,318) | (3,996) |
Receivables under securities borrowing transactions, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | 0 | 0 |
Receivables under securities borrowing transactions, Net amounts | [1] | 9 | 11 |
Financial assets, Gross amounts recognized, Total | [1] | 24,947 | 25,192 |
Financial assets, Gross amounts offset on the balance sheet, Total | [1] | 0 | 0 |
Financial assets, Net amounts presented on the balance sheet, Total | [1],[2] | 24,947 | 25,192 |
Financial assets, Amounts not offset on the balance sheet, Financial instruments, Total | [1],[3],[4] | (22,946) | (23,303) |
Financial assets, Amounts not offset on the balance sheet, Cash collateral, Total | [1],[3] | (599) | (662) |
Financial assets, Net amounts, Total | [1] | 1,402 | 1,227 |
Derivative liabilities, Gross amounts recognized | [1] | 13,652 | 12,306 |
Derivative liabilities, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Derivative liabilities, Net amounts presented on the balance sheet | [1],[2] | 13,652 | 12,306 |
Derivative liabilities, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (12,043) | (10,706) |
Derivative liabilities, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | (748) | (561) |
Derivative liabilities, Net amounts | [1] | 861 | 1,039 |
Payables under repurchase agreements, Gross amounts recognized | [1] | 16,507 | 19,494 |
Payables under repurchase agreements, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Payables under repurchase agreements, Net amounts presented on the balance sheet | [1],[2] | 16,507 | 19,494 |
Payables under repurchase agreements, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (16,464) | (19,378) |
Payables under repurchase agreements, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | 0 | 0 |
Payables under repurchase agreements, Net amounts | [1] | 43 | 116 |
Payables under securities lending transactions, Gross amounts recognized | [1] | 2,538 | 2,246 |
Payables under securities lending transactions, Gross amounts offset on the balance sheet | [1] | 0 | 0 |
Payables under securities lending transactions, Net amounts presented on the balance sheet | [1],[2] | 2,538 | 2,246 |
Payables under securities lending transactions, Amounts not offset on the balance sheet, Financial instruments | [1],[3],[4] | (2,531) | (2,242) |
Payables under securities lending transactions, Amounts not offset on the balance sheet, Cash collateral | [1],[3] | 0 | 0 |
Payables under securities lending transactions, Net amounts | [1] | 7 | 4 |
Financial liabilities, Gross amounts recognized, Total | [1] | 32,697 | 34,046 |
Financial liabilities, Gross amounts offset on the balance sheet, Total | [1] | 0 | 0 |
Financial liabilities, Net amounts presented on the balance sheet, Total | [1],[2] | 32,697 | 34,046 |
Financial liabilities, Amounts not offset on the balance sheet, Financial instruments, Total | [1],[3],[4] | (31,038) | (32,326) |
Financial liabilities, Amounts not offset on the balance sheet, Cash collateral, Total | [1],[3] | (748) | (561) |
Financial liabilities, Net amounts, Total | [1] | ¥ 911 | ¥ 1,159 |
[1] | Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of set-off or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to over-the-counter ("OTC") and OTC-cleared derivatives that are subject to enforceable master netting arrangements or similar agreements. | ||
[2] | Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively. | ||
[3] | Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists. | ||
[4] | For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements. |
Repurchase agreements and se184
Repurchase agreements and securities lending transactions accounted for as secured borrowings (Gross Amounts of Liabilities Associated with Repurchase Agreements and Securities Lending Transactions, by Remaining Contractual Maturity) (Detail) ¥ in Billions | Mar. 31, 2016JPY (¥) | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | ¥ 16,833 | [1] |
Securities lending transactions | 2,845 | [1] |
Total | 19,678 | |
Overnight and continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 6,289 | |
Securities lending transactions | 1,909 | |
Total | 8,198 | |
Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 6,125 | |
Securities lending transactions | 700 | |
Total | 6,825 | |
31 to 90 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 3,582 | |
Total | 3,582 | |
Greater than 90 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 837 | |
Securities lending transactions | 236 | |
Total | ¥ 1,073 | |
[1] | Amounts exceeded the gross amounts recognized in Note 28 "Offsetting of financial assets and financial liabilities" by ¥633 billion, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. |
Repurchase agreements and se185
Repurchase agreements and securities lending transactions accounted for as secured borrowings (Gross Amounts of Liabilities Associated with Repurchase Agreements and Securities Lending Transactions by Class of Underlying Collateral) (Detail) ¥ in Billions | Mar. 31, 2016JPY (¥) | |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | ¥ 16,833 | [1] |
Securities lending transactions | 2,845 | [1] |
Japanese government bonds and Japanese local government bonds | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 532 | |
Securities lending transactions | 1,891 | |
Foreign government bonds and foreign agency mortgage-backed securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 15,781 | |
Securities lending transactions | 700 | |
Commercial Paper and Corporate Bonds | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 221 | |
Securities lending transactions | 27 | |
Equity Securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 141 | |
Securities lending transactions | 185 | |
Other securities | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 158 | |
Securities lending transactions | ¥ 42 | |
[1] | Amounts exceeded the gross amounts recognized in Note 28 "Offsetting of financial assets and financial liabilities" by ¥633 billion, which excluded the amounts relating to master netting agreements or similar agreements where the MHFG Group did not have the legal right of set-off or where uncertainty exists as to the enforceability. |
Repurchase agreements and se186
Repurchase agreements and securities lending transactions accounted for as secured borrowings (Gross Amounts of Liabilities Associated with Repurchase Agreements and Securities Lending Transactions by Class of Underlying Collateral) (Parenthetical) (Detail) ¥ in Billions | Mar. 31, 2016JPY (¥) |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | |
Amounts exceeded the gross amounts recognized in offsetting of financial assets and financial liabilities | ¥ 633 |
Business Segment Information (I
Business Segment Information (Information for Reportable Segments) (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | [2] | Mar. 31, 2014 | |||
Gross profits: | ||||||
Net interest income | [1] | ¥ 1,003.7 | ¥ 1,129.4 | ¥ 1,108.3 | [3] | |
Net noninterest income | [1] | 1,217.9 | 1,118.3 | 927 | [3] | |
Total | [1] | 2,221.6 | 2,247.7 | 2,035.3 | [3] | |
General and administrative Expenses | [1] | 1,345 | 1,321.2 | 1,229.3 | [3] | |
Others | [1] | (23.8) | (49.6) | (61.7) | [3] | |
Net business profits | [1] | 852.8 | 876.9 | 744.3 | [3] | |
Mizuho Bank Limited And Mizuho Corporate Bank Limited | ||||||
Gross profits: | ||||||
Net interest income | 923.8 | |||||
Net noninterest income | 460.3 | |||||
Total | 1,384.1 | |||||
General and administrative Expenses | 791.1 | |||||
Net business profits | 593 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Personal Banking | ||||||
Gross profits: | ||||||
Net interest income | 218 | |||||
Net noninterest income | 39.8 | |||||
Total | 257.8 | |||||
General and administrative Expenses | 226.4 | |||||
Net business profits | 31.4 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Retail banking | ||||||
Gross profits: | ||||||
Net interest income | 80.7 | |||||
Net noninterest income | 49.8 | |||||
Total | 130.5 | |||||
General and administrative Expenses | 116.7 | |||||
Net business profits | 13.8 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Corporate Banking (Large Corporations) | ||||||
Gross profits: | ||||||
Net interest income | 173.3 | |||||
Net noninterest income | 140.4 | |||||
Total | 313.7 | |||||
General and administrative Expenses | 87.2 | |||||
Net business profits | 226.5 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Corporate Banking | ||||||
Gross profits: | ||||||
Net interest income | 102.5 | |||||
Net noninterest income | 70.1 | |||||
Total | 172.6 | |||||
General and administrative Expenses | 77.7 | |||||
Net business profits | 94.9 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Financial Institutions & Public Sector Business | ||||||
Gross profits: | ||||||
Net interest income | 35.5 | |||||
Net noninterest income | 24.1 | |||||
Total | 59.6 | |||||
General and administrative Expenses | 29 | |||||
Net business profits | 30.6 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | International Banking | ||||||
Gross profits: | ||||||
Net interest income | 128.9 | |||||
Net noninterest income | 139.8 | |||||
Total | 268.7 | |||||
General and administrative Expenses | 82.5 | |||||
Net business profits | 186.2 | |||||
Mizuho Bank Limited And Mizuho Corporate Bank Limited | Trading and others | ||||||
Gross profits: | ||||||
Net interest income | 184.9 | |||||
Net noninterest income | (3.7) | |||||
Total | 181.2 | |||||
General and administrative Expenses | 171.6 | |||||
Net business profits | 9.6 | |||||
Mizuho Securities Company Limited Consolidated | ||||||
Gross profits: | ||||||
Net interest income | [1] | 5.4 | 1.8 | 2.9 | [3] | |
Net noninterest income | [1] | 343.8 | 335.8 | 283.9 | [3] | |
Total | [1] | 349.2 | 337.6 | 286.8 | [3] | |
General and administrative Expenses | [1] | 279.3 | 268 | 246.2 | [3] | |
Net business profits | [1] | 69.9 | 69.6 | 40.6 | [3] | |
Others | ||||||
Gross profits: | ||||||
Net interest income | [1] | 2.8 | 0.9 | 131.4 | [3] | |
Net noninterest income | [1] | 68.1 | 61.5 | 127.6 | [3] | |
Total | [1] | 70.9 | 62.4 | 259 | [3] | |
General and administrative Expenses | [1] | 63.3 | 54 | 180.9 | [3] | |
Others | [1] | 2.5 | (2.7) | (2.7) | [3] | |
Net business profits | [1] | 10.1 | 5.7 | 75.4 | [3] | |
MizuhoTrust Banking Company Limited Consolidated | ||||||
Gross profits: | ||||||
Net interest income | [1] | 36.1 | 39.4 | 40.2 | [3] | |
Net noninterest income | [1] | 130.7 | 122.6 | 108.1 | [3] | |
Total | [1] | 166.8 | 162 | 148.3 | [3] | |
General and administrative Expenses | [1] | 99.1 | 94.5 | 90.9 | [3] | |
Others | [1] | (4.2) | (3.7) | (2.9) | [3] | |
Net business profits | [1] | 63.5 | 63.8 | 54.5 | [3] | |
Mizuho Bank, Limited Consolidated | ||||||
Gross profits: | ||||||
Net interest income | [1] | 959.4 | 1,087.3 | 933.8 | [3] | |
Net noninterest income | [1] | 675.3 | 598.4 | 407.4 | [3] | |
Total | [1] | 1,634.7 | 1,685.7 | 1,341.2 | [3] | |
General and administrative Expenses | [1] | 903.3 | 904.7 | 711.3 | [3] | |
Others | [1] | (22.1) | (43.2) | (56.1) | [3] | |
Net business profits | [1] | 709.3 | 737.8 | 573.8 | [3] | |
Mizuho Bank, Limited Consolidated | Others | ||||||
Gross profits: | ||||||
Net interest income | [1] | 129.3 | 152.4 | 133.7 | [3] | |
Net noninterest income | [1] | 41.6 | 37.8 | 9.2 | [3] | |
Total | [1] | 170.9 | 190.2 | 142.9 | [3] | |
General and administrative Expenses | [1] | 70 | 71 | 52.3 | [3] | |
Others | [1] | (22.1) | (43.2) | (56.1) | [3] | |
Net business profits | [1] | 78.8 | 76 | 34.5 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | ||||||
Gross profits: | ||||||
Net interest income | [1] | 830.1 | 934.9 | 800.1 | [3] | |
Net noninterest income | [1] | 633.7 | 560.6 | 398.2 | [3] | |
Total | [1] | 1,463.8 | 1,495.5 | 1,198.3 | [3] | |
General and administrative Expenses | [1] | 833.3 | 833.7 | 659 | [3] | |
Net business profits | [1] | 630.5 | 661.8 | 539.3 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Personal Banking | ||||||
Gross profits: | ||||||
Net interest income | [1] | 214.8 | 213.4 | 164.6 | [3] | |
Net noninterest income | [1] | 45 | 48.7 | 31.6 | [3] | |
Total | [1] | 259.8 | 262.1 | 196.2 | [3] | |
General and administrative Expenses | [1] | 234.4 | 233.5 | 171.3 | [3] | |
Net business profits | [1] | 25.4 | 28.6 | 24.9 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Retail banking | ||||||
Gross profits: | ||||||
Net interest income | [1] | 75.7 | 77.6 | 60.4 | [3] | |
Net noninterest income | [1] | 53.1 | 53.7 | 38 | [3] | |
Total | [1] | 128.8 | 131.3 | 98.4 | [3] | |
General and administrative Expenses | [1] | 118.6 | 118.4 | 87.8 | [3] | |
Net business profits | [1] | 10.2 | 12.9 | 10.6 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Corporate Banking (Large Corporations) | ||||||
Gross profits: | ||||||
Net interest income | [1] | 173 | 179.5 | 170.7 | [3] | |
Net noninterest income | [1] | 143.7 | 128 | 135.4 | [3] | |
Total | [1] | 316.7 | 307.5 | 306.1 | [3] | |
General and administrative Expenses | [1] | 91.9 | 94.4 | 83.8 | [3] | |
Net business profits | [1] | 224.8 | 213.1 | 222.3 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Corporate Banking | ||||||
Gross profits: | ||||||
Net interest income | [1] | 97.5 | 99.6 | 77.3 | [3] | |
Net noninterest income | [1] | 77.5 | 79.8 | 55.8 | [3] | |
Total | [1] | 175 | 179.4 | 133.1 | [3] | |
General and administrative Expenses | [1] | 75.2 | 76.5 | 58.8 | [3] | |
Net business profits | [1] | 99.8 | 102.9 | 74.3 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Financial Institutions & Public Sector Business | ||||||
Gross profits: | ||||||
Net interest income | [1] | 32.5 | 33.3 | 30.7 | [3] | |
Net noninterest income | [1] | 31.8 | 27.4 | 21.7 | [3] | |
Total | [1] | 64.3 | 60.7 | 52.4 | [3] | |
General and administrative Expenses | [1] | 29.8 | 30.3 | 25.1 | [3] | |
Net business profits | [1] | 34.5 | 30.4 | 27.3 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | International Banking | ||||||
Gross profits: | ||||||
Net interest income | [1] | 175.5 | 147.1 | 128.9 | [3] | |
Net noninterest income | [1] | 185.1 | 164.9 | 139.8 | [3] | |
Total | [1] | 360.6 | 312 | 268.7 | [3] | |
General and administrative Expenses | [1] | 122.1 | 92.6 | 82.5 | [3] | |
Net business profits | [1] | 238.5 | 219.4 | 186.2 | [3] | |
Mizuho Bank, Limited Consolidated | Mizuho Bank, Limited Non-consolidated | Trading and others | ||||||
Gross profits: | ||||||
Net interest income | [1] | 61.1 | 184.4 | 167.5 | [3] | |
Net noninterest income | [1] | 97.5 | 58.1 | (24.1) | [3] | |
Total | [1] | 158.6 | 242.5 | 143.4 | [3] | |
General and administrative Expenses | [1] | 161.3 | 188 | 149.7 | [3] | |
Net business profits | [1] | ¥ (2.7) | ¥ 54.5 | ¥ (6.3) | [3] | |
[1] | "Others (h)" and "Others (k)" include the elimination of transactions between consolidated subsidiaries. | |||||
[2] | Beginning on April 1, 2015, new allocation methods have been applied to the calculation of "Gross profits" and "General and administrative expenses" for reportable segments of MHBK. Figures for the fiscal year ended March 31, 2015 have been reclassified under the new allocation methods. | |||||
[3] | As for the fiscal year ended March 31, 2014, "MHBK (Non-consolidated)" represents the sum of the performance of the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters, while "Others (h)" includes the performance of the former MHBK for the first quarter, in light of the merger of the former MHBK and the former MHCB conducted in July 2013. |
Business Segment Information (R
Business Segment Information (Reconciliation of Total Net Business Profits Under Internal Management Reporting System to Income Loss Before Income Tax Expense Benefit Shown on Consolidated Statements of Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||||
Net business profits | [1] | ¥ 852,800 | ¥ 876,900 | [2] | ¥ 744,300 | [3] |
U.S. GAAP adjustments | 201,300 | 230,800 | (325,400) | |||
(Provision) credit for loan losses | (34,560) | 60,223 | 126,230 | |||
Net gains (losses) related to equity investments | 188,400 | 160,100 | 178,700 | |||
Non-recurring personnel expense | (3,900) | (8,000) | (14,800) | |||
Gains on disposal of premises and equipment | 10,223 | 2,754 | 10,460 | |||
(Provision) credit for losses on off-balance-sheet instruments | 16,447 | 2,827 | (12,095) | |||
Others-net | (34,000) | (57,900) | 18,900 | |||
Income before income tax expense | ¥ 1,196,605 | ¥ 1,267,653 | ¥ 726,343 | |||
[1] | "Others (h)" and "Others (k)" include the elimination of transactions between consolidated subsidiaries. | |||||
[2] | Beginning on April 1, 2015, new allocation methods have been applied to the calculation of "Gross profits" and "General and administrative expenses" for reportable segments of MHBK. Figures for the fiscal year ended March 31, 2015 have been reclassified under the new allocation methods. | |||||
[3] | As for the fiscal year ended March 31, 2014, "MHBK (Non-consolidated)" represents the sum of the performance of the former MHCB for the first quarter and the new MHBK for the second, third and fourth quarters, while "Others (h)" includes the performance of the former MHBK for the first quarter, in light of the merger of the former MHBK and the former MHCB conducted in July 2013. |
Foreign Activities (Consolidate
Foreign Activities (Consolidated Income Statement and Total Assets Information by Major Geographic Area) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | ¥ 3,384,100 | ¥ 3,258,900 | ¥ 2,505,600 |
Total expenses | [2] | 2,187,500 | 1,991,200 | 1,779,300 |
Income before income tax expense | 1,196,605 | 1,267,653 | 726,343 | |
Net income | 850,063 | 830,233 | 500,235 | |
Total assets at end of fiscal year | 193,815,546 | 190,119,734 | 175,699,300 | |
Japan | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | 2,288,500 | 2,396,900 | 1,783,900 |
Total expenses | [2] | 1,534,200 | 1,459,900 | 1,397,300 |
Income before income tax expense | 754,300 | 937,000 | 386,600 | |
Net income | 464,700 | 565,600 | 198,900 | |
Total assets at end of fiscal year | 133,162,400 | 127,473,500 | 124,557,700 | |
United States of America | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | 434,400 | 324,100 | 273,800 |
Total expenses | [2] | 282,600 | 210,800 | 129,100 |
Income before income tax expense | 151,800 | 113,300 | 144,700 | |
Net income | 136,900 | 79,700 | 129,900 | |
Total assets at end of fiscal year | 28,985,300 | 31,074,900 | 24,014,800 | |
Others | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | 45,700 | 102,400 | 76,100 |
Total expenses | [2] | 28,700 | 24,300 | 15,500 |
Income before income tax expense | 17,000 | 78,100 | 60,600 | |
Net income | 15,400 | 76,200 | 59,800 | |
Total assets at end of fiscal year | 4,227,500 | 4,871,000 | 3,513,000 | |
Europe | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | 187,500 | 211,800 | 152,900 |
Total expenses | [2] | 126,200 | 133,800 | 96,300 |
Income before income tax expense | 61,300 | 78,000 | 56,600 | |
Net income | 51,100 | 74,300 | 54,000 | |
Total assets at end of fiscal year | 11,616,900 | 10,880,600 | 10,784,500 | |
Asia/Oceania excluding Japan, and others | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | [1] | 428,000 | 223,700 | 218,900 |
Total expenses | [2] | 215,800 | 162,400 | 141,100 |
Income before income tax expense | 212,200 | 61,300 | 77,800 | |
Net income | 182,000 | 34,400 | 57,600 | |
Total assets at end of fiscal year | ¥ 15,823,400 | ¥ 15,819,700 | ¥ 12,829,300 | |
[1] | Total revenue is comprised of Interest and dividend income and Noninterest income. | |||
[2] | Total expenses are comprised of Interest expense, Provision (credit) for loan losses and Noninterest expenses. |
Mizuho Financial Group, Inc.190
Mizuho Financial Group, Inc., Parent Company (Condensed Balance Sheets Parent Company Only) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Assets: | ||||
Cash and due from banks | ¥ 1,322,597 | ¥ 1,528,306 | ¥ 1,696,879 | ¥ 1,268,442 |
Interest-bearing deposits in other banks | 35,327,408 | 27,852,853 | ||
Other | 4,702,285 | 5,118,604 | ||
Total | 193,815,546 | 190,119,734 | 175,699,300 | |
Liabilities and shareholders' equity: | ||||
Long-term debt | 14,770,922 | 14,582,241 | ||
Other liabilities | 6,476,723 | 5,934,863 | ||
Shareholders' equity | 8,014,551 | 7,930,338 | ||
Total | 193,815,546 | 190,119,734 | ||
Parent Company | ||||
Assets: | ||||
Cash and due from banks | 137 | 223 | ¥ 167 | ¥ 200 |
Interest-bearing deposits in other banks | 16,305 | 12,506 | ||
Investments in subsidiaries and affiliated companies | 8,840,003 | 8,857,561 | ||
Other | 1,025,108 | 566,947 | ||
Total | 9,881,553 | 9,437,237 | ||
Liabilities and shareholders' equity: | ||||
Short-term borrowings | 1,186,345 | 1,200,135 | ||
Long-term debt | 584,518 | 248,800 | ||
Other liabilities | 96,139 | 57,964 | ||
Shareholders' equity | 8,014,551 | 7,930,338 | ||
Total | ¥ 9,881,553 | ¥ 9,437,237 |
Mizuho Financial Group, Inc.191
Mizuho Financial Group, Inc., Parent Company (Condensed Statements of Income Parent Company Only) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | ||
Income: | ||||
Total | [1] | ¥ 3,384,100 | ¥ 3,258,900 | ¥ 2,505,600 |
Expenses: | ||||
Interest expense | 495,407 | 411,982 | 401,565 | |
Equity in undistributed net income of subsidiaries | 28,969 | 17,502 | 27,975 | |
Income tax expense | 346,542 | 437,420 | 226,108 | |
Net income attributable to MHFG shareholders | 850,492 | 803,048 | 498,484 | |
Parent Company | ||||
Income: | ||||
Management fees from subsidiaries | 39,267 | 32,163 | 31,146 | |
Other income | 11,485 | 38,107 | 33,894 | |
Total | 343,636 | 414,938 | 350,170 | |
Expenses: | ||||
Operating expenses | 31,063 | 26,855 | 22,592 | |
Interest expense | 11,914 | 8,937 | 14,608 | |
Other expense | 9,203 | 2,693 | 5,724 | |
Total | 52,180 | 38,485 | 42,924 | |
Equity in undistributed net income of subsidiaries | 559,553 | 427,037 | 191,865 | |
Income before income tax expense | 851,009 | 803,490 | 499,111 | |
Income tax expense | 517 | 442 | 627 | |
Net income attributable to MHFG shareholders | 850,492 | 803,048 | 498,484 | |
Parent Company | Banking Subsidiary | ||||
Income: | ||||
Dividends from subsidiaries and affiliated companies | 272,070 | 316,035 | 282,022 | |
Parent Company | Non Banking Subsidiaries And Affiliated Companies | ||||
Income: | ||||
Dividends from subsidiaries and affiliated companies | ¥ 20,814 | ¥ 28,633 | ¥ 3,108 | |
[1] | Total revenue is comprised of Interest and dividend income and Noninterest income. |
Mizuho Financial Group, Inc.192
Mizuho Financial Group, Inc., Parent Company (Condensed Statements of Cash Flows Parent Company Only) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | ¥ 850,492 | ¥ 803,048 | ¥ 498,484 |
Net cash provided by operating activities | 241,710 | 1,205,926 | 5,951,308 |
Cash flows from investing activities: | |||
Net change in loans | (1,923,627) | (2,800,196) | (2,313,291) |
Purchases of premises and equipment | (388,565) | (419,912) | (456,980) |
Net cash provided by (used in) investing activities | (5,978,075) | (5,673,888) | 417,303 |
Cash flows from financing activities: | |||
Net change in other short-term borrowings | 571,901 | (4,480,378) | (724,788) |
Proceeds from issuance of long-term debt | 2,723,168 | 6,537,703 | 1,999,764 |
Repayment of long-term debt | (2,307,082) | (2,196,492) | (1,097,627) |
Proceeds from issuance of common stock | 5 | 6 | |
Purchases of treasury stock | (13) | (12) | (37,013) |
Dividends paid | (195,283) | (176,186) | (152,163) |
Net cash provided by (used in) financing activities | 5,558,717 | 4,264,631 | (5,972,005) |
Effect of exchange rate changes on cash and due from banks | (28,061) | 34,758 | 31,831 |
Net increase (decrease) in cash and due from banks | (205,709) | (168,573) | 428,437 |
Cash and due from banks at beginning of fiscal year | 1,528,306 | 1,696,879 | 1,268,442 |
Cash and due from banks at end of fiscal year | 1,322,597 | 1,528,306 | 1,696,879 |
Parent Company | |||
Cash flows from operating activities: | |||
Net income | 850,492 | 803,048 | 498,484 |
Adjustments and other | (546,946) | (460,230) | (222,940) |
Net cash provided by operating activities | 303,546 | 342,818 | 275,544 |
Cash flows from investing activities: | |||
Net change in loans | (479,948) | (150,000) | |
Purchases of premises and equipment | (165) | (159,670) | (4,052) |
Net change in other investing activities | (377) | 3,294 | 6,683 |
Net cash provided by (used in) investing activities | (480,490) | (306,376) | 2,631 |
Cash flows from financing activities: | |||
Net change in other short-term borrowings | (10,000) | 130,000 | (90,000) |
Proceeds from issuance of long-term debt | 479,948 | 150,000 | |
Repayment of long-term debt | (98,800) | (141,200) | |
Proceeds from issuance of common stock | 5 | 6 | |
Purchases of treasury stock | (13) | (12) | (37,013) |
Dividends paid | (195,283) | (176,186) | (152,163) |
Net change in other financing activities | 1,001 | 1,006 | 968 |
Net cash provided by (used in) financing activities | 176,858 | (36,386) | (278,208) |
Effect of exchange rate changes on cash and due from banks | 0 | 0 | 0 |
Net increase (decrease) in cash and due from banks | (86) | 56 | (33) |
Cash and due from banks at beginning of fiscal year | 223 | 167 | 200 |
Cash and due from banks at end of fiscal year | ¥ 137 | ¥ 223 | ¥ 167 |
Details of Redeemed Preferred S
Details of Redeemed Preferred Securities (Detail) - Jun. 30, 2016 - Subsequent Event - Mizuho Capital Investment, Limited ¥ in Millions, $ in Millions | JPY (¥) | USD ($) |
Subsequent Event [Line Items] | ||
Aggregate redemption amount | ¥ 400,000 | $ 600 |
Reason for the redemption | Arrival of optional redemption date |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Jul. 13, 2016 | Mar. 31, 2016 |
Subsequent Event [Line Items] | ||
Name of acquired entity | Asset Management One Co., Ltd. ("New Company") | |
Description for main purpose of integration | Based on the strong commitment of MHFG and The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) to strengthen and develop their respective asset management businesses, the New Company will aim to achieve significant development as a global asset management company, providing its customers with solutions of the highest standards by combining the asset management-related knowledge and experience accumulated and developed by each Integrating Company over many years, and taking full advantage of collaboration with both the MHFG Group and the Dai-ichi Life group. In order to establish a highly independent and transparent management framework, the New Company’s independent outside directors (Audit & Supervisory Committee members) will include professionals with a high level of expertise in the areas of asset management, legal affairs and accounting. In addition, the New Company will fulfill its fiduciary duties as a professional asset management firm and provide services and products that truly benefit its customers. Through these efforts, the New Company aims to become the most trusted and valued asset management company—meeting the needs of pension funds and corporate customers in terms of diversification and sophistication of their investments, as well as encouraging a shift “from saving to investment” in Japan through providing individual customers with high-quality products and services. | |
Subsequent Event | ||
Subsequent Event [Line Items] | ||
Effective date of integration | Oct. 1, 2016 | |
Subsequent Event | New Company | ||
Subsequent Event [Line Items] | ||
Percentage of shareholding ratio based on economic interests | 70.00% | |
Percentage of shareholding ratio based on voting rights | 51.00% |