Mizuho Financial (MFG) 6-K Current report (foreign)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2020

Commission File Number 001-33098

Mizuho Financial Group, Inc.

(Translation of registrant’s name into English)

5-5, Otemachi 1-chome

Chiyoda-ku, Tokyo 100-8176

Japan

(Address of principal executive office)

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

Form 20-F  ☒    Form 40-F  ☐

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

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

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.    Yes  ☐    No  ☒

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

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE INTO THE PROSPECTUS FORMING A PART OF MIZUHO FINANCIAL GROUP, INC.’S REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-233354) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

SIGNATURES

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

Date: August 14, 2020
Mizuho Financial Group, Inc.
By:	/s/ Makoto Umemiya

Name:	Makoto Umemiya
Title:	Senior Managing Executive Officer / Group CFO

UNAUDITED QUARTERLY CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE THREE MONTHS ENDED JUNE 30, 2020

On August 14, 2020, we published our unaudited quarterly consolidated financial statements as of and for the three months ended June 30, 2020 prepared in accordance with Japanese GAAP as part of our quarterly securities report (shihanki hokokusho) for the same period filed by us with the relevant Japanese authorities. We have included in this report on Form 6-K an English translation of the unaudited quarterly consolidated financial statements and the notes thereto included in such quarterly securities report. Japanese GAAP differs in certain respects from U.S. GAAP. For a description of certain differences between U.S. GAAP and Japanese GAAP, see “Item 5. Operating and Financial Review and Prospects—Reconciliation with Japanese GAAP” in our most recent annual report on Form 20-F filed with the U.S. Securities Exchange Commission.

- 1 -

Financial Information

1. The quarterly consolidated financial statements of Mizuho Financial Group, Inc. (“MHFG”) are prepared in accordance with the “Ordinance on the Terminology, Forms, and Preparation Methods of Quarterly Consolidated Financial Statements” (Cabinet Office Ordinance No. 64 of 2007). The classification of assets and liabilities and that of income and expenses are in accordance with the “Ordinance for Enforcement of the Banking Act” (Ordinance of the Ministry of Finance No. 10 of 1982).

The quarterly consolidated financial statements for the three months ended June 30, 2020 are prepared in accordance with the revised “Ordinance on the Terminology, Forms, and Preparation Methods of Quarterly Consolidated Financial Statements”, pursuant to the proviso of Article 7, Paragraph 1 of the Supplementary Provisions of the “Cabinet Office Ordinance for Partial Revision of the Ordinance on the Terminology, Forms, and Preparation Methods of the financial statements” (Cabinet Office Ordinance No. 9 of March 6, 2020).

2. Ernst & Young ShinNihon LLC conducted a quarterly review on the quarterly consolidated financial statements of MHFG for the three months ended June 30, 2020, pursuant to Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act.

- 2 -

I. Quarterly Consolidated Financial Statements

(1) Quarterly Consolidated Balance Sheet

	(Millions of yen)
	As of March 31, 2020			As of June 30, 2020
Assets
Cash and Due from Banks		41,069,745			39,575,631
Call Loans and Bills Purchased		584,686			557,396
Receivables under Resale Agreements		18,581,488			16,405,794
Guarantee Deposits Paid under Securities Borrowing Transactions		2,243,161			2,115,294
Other Debt Purchased		2,688,273			2,845,881
Trading Assets		13,248,734			14,888,607
Money Held in Trust		411,847			431,633
Securities	*2	34,907,234		*2	39,354,461
Loans and Bills Discounted	*1	83,468,185		*1	88,824,317
Foreign Exchange Assets		2,044,415			1,839,879
Derivatives other than for Trading Assets		1,944,060			1,390,369
Other Assets		5,206,121			4,222,697
Tangible Fixed Assets		1,103,622			1,099,406
Intangible Fixed Assets		636,139			626,563
Net Defined Benefit Asset		846,782			853,330
Deferred Tax Assets		32,493			24,751
Customers’ Liabilities for Acceptances and Guarantees		6,066,527			6,011,025
Reserves for Possible Losses on Loans		(424,446	)		(457,206	)
Total Assets		214,659,077			220,609,837

- 3 -

	(Millions of yen)
	As of March 31, 2020			As of June 30, 2020
Liabilities
Deposits		131,189,673			136,697,880
Negotiable Certificates of Deposit		13,282,561			13,558,843
Call Money and Bills Sold		2,263,076			1,963,757
Payables under Repurchase Agreements		17,971,098			18,045,730
Guarantee Deposits Received under Securities Lending Transactions		1,108,255			1,210,080
Commercial Paper		411,089			574,286
Trading Liabilities		9,604,890			9,286,120
Borrowed Money		5,209,947			7,643,540
Foreign Exchange Liabilities		509,405			460,435
Short-term Bonds		373,658			338,580
Bonds and Notes		8,906,432			8,923,840
Due to Trust Accounts		1,055,510			1,117,643
Derivatives other than for Trading Liabilities		1,619,151			1,271,638
Other Liabilities		6,111,195			4,494,786
Reserve for Bonus Payments		75,175			19,127
Reserve for Variable Compensation		2,559			3,350
Net Defined Benefit Liability		62,113			61,451
Reserve for Director and Corporate Auditor Retirement Benefits		944			623
Reserve for Possible Losses on Sales of Loans		637			231
Reserve for Contingencies		6,443			4,901
Reserve for Reimbursement of Deposits		27,851			26,387
Reserve for Reimbursement of Debentures		18,672			18,140
Reserves under Special Laws		2,509			2,506
Deferred Tax Liabilities		53,150			85,119
Deferred Tax Liabilities for Revaluation Reserve for Land		62,695			62,555
Acceptances and Guarantees		6,066,527			6,011,025
Total Liabilities		205,995,229			211,882,582
Net Assets
Common Stock and Preferred Stock		2,256,767			2,256,767
Capital Surplus		1,136,467			1,136,467
Retained Earnings		4,174,190			4,167,459
Treasury Stock		(6,414	)		(6,072	)
Total Shareholders’ Equity		7,561,010			7,554,621
Net Unrealized Gains (Losses) on Other Securities		823,085			956,353
Deferred Gains or Losses on Hedges		72,081			62,704
Revaluation Reserve for Land		136,655			137,834
Foreign Currency Translation Adjustments		(133,178	)		(179,847	)
Remeasurements of Defined Benefit Plans		94,317			89,949
Total Accumulated Other Comprehensive Income		992,960			1,066,993
Stock Acquisition Rights		213			134
Non-controlling Interests		109,662			105,505
Total Net Assets		8,663,847			8,727,255
Total Liabilities and Net Assets		214,659,077			220,609,837

- 4 -

(2) Quarterly Consolidated Statement of Income and

      Quarterly Consolidated Statement of Comprehensive Income

      Quarterly Consolidated Statement of Income

	(Millions of yen)
	For the three months ended June 30, 2019			For the three months ended June 30, 2020
Ordinary Income		988,825			835,835
Interest Income		528,821			366,276
Interest on Loans and Bills Discounted		327,955			262,715
Interest and Dividends on Securities		58,672			59,632
Fiduciary Income		14,017			13,333
Fee and Commission Income		176,539			196,531
Trading Income		90,449			139,198
Other Operating Income		122,732			87,768
Other Ordinary Income	*1	56,266		*1	32,726
Ordinary Expenses		768,975			660,414
Interest Expenses		348,850			151,175
Interest on Deposits		135,667			55,515
Fee and Commission Expenses		42,064			39,728
Trading Expenses		221			1,390
Other Operating Expenses		19,687			41,257
General and Administrative Expenses		328,430			340,468
Other Ordinary Expenses	*2	29,722		*2	86,394
Ordinary Profits		219,849			175,421
Extraordinary Gains	*3	910		*3	2,834
Extraordinary Losses	*4	3,384		*4	2,164
Income before Income Taxes		217,375			176,092
Income Taxes:
Current		54,908			48,588
Deferred		(3,635	)		4,955
Total Income Taxes		51,273			53,544
Profit		166,102			122,547
Profit Attributable to Non-controlling Interests		3,663			172
Profit Attributable to Owners of Parent		162,438			122,375

- 5 -

      Quarterly Consolidated Statement of Comprehensive Income

	(Millions of yen)
	For the three months ended June 30, 2019			For the three months ended June 30, 2020
Profit		166,102			122,547
Other Comprehensive Income		(71,780	)		70,078
Net Unrealized Gains (Losses) on Other Securities		(106,210	)		131,007
Deferred Gains or Losses on Hedges		56,455			(9,414	)
Foreign Currency Translation Adjustments		(11,401	)		(45,327	)
Remeasurements of Defined Benefit Plans		(10,478	)		(4,376	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		(145	)		(1,811	)
Comprehensive Income		94,321			192,626
(Breakdown)
Comprehensive Income Attributable to Owners of Parent		90,082			195,229
Comprehensive Income Attributable to Non-controlling Interests		4,239			(2,602	)

- 6 -

Notes to Quarterly Consolidated Financial Statements

Changes in Accounting Policies

    (Accounting Standard for Fair Value Measurement and Others)

MHFG has applied “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.30 July 4, 2019) and others from the beginning of the first quarter ended June 30, 2020.

In accordance with Article 8 of “Accounting Standard for Fair Value Measurement”, the fair value adjustment method used to determine the fair value of derivatives is revised to maximize the use of relevant observable inputs estimated from derivatives and others traded in the market.

In accordance with Article 20 of “Accounting Standard for Fair Value Measurement”, the cumulative effects arising from the retroactive application of these new accounting policies to all the previous fiscal years were reflected in Retained Earnings as of April 1, 2020.

As a result, Retained Earnings decreased by ¥32,639 million, Trading Assets decreased by ¥50,380 million, Derivatives other than for Trading Assets decreased by ¥6,379 million, Trading Liabilities decreased by ¥6,529 million, Derivatives other than for Trading Liabilities decreased by ¥3,184 million, Deferred Tax Assets increased by ¥14,405 million, and Net Assets per Share decreased by ¥1.28 as of April 1, 2020.

And in accordance with the transitional treatment set forth in Article 19 of “Accounting Standard for Fair Value Measurement” and Article 44-2 of “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019), MHFG has applied a new accounting policy prescribed by “Accounting Standard for Fair Value Measurement” and others from the end of the first quarter.

As a result, in principle, while fair value of Japanese stocks was previously determined based on the average quoted market price over the month preceding the quarterly consolidated balance sheet date, from the end of the first quarter, fair value of Japanese stocks is determined based on the quoted market price as of the quarterly consolidated balance sheet date.

Additional Information

The Board Benefit Trust (“BBT”) Program

Since MHFG operates its business to contribute to the creation of value for diverse stakeholders and realize improved corporate value through the continuous and stable growth of MHFG group pursuant to MHFG’s basic management policy defined under the Mizuho Financial Group’s Corporate Identity, MHFG has introduced a stock compensation program using a trust (the “Program”) that functions as an incentive for each Director, Executive Officer, and Specialist Officer to exert maximum effort in performing his or her duties, and also as consideration for such exertion of effort.

(1) Outline of the Program

The Program has adopted the Board Benefit Trust (“BBT”) framework. MHFG’s shares on the stock market will be acquired through a trust established based on the underlying funds contributed by MHFG, and MHFG’s shares will be distributed to Directors, Executive Officers, and Specialist Officers of MHFG, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd. (the “Company Group”) in accordance with the Rules on Distribution of Shares to be prescribed in advance. The framework consists of the stock compensation program based on the Company Group Officer’s position in their respective company (“Stock Compensation I”) and the stock compensation program based on the performance evaluation of the Company Group (“Stock Compensation II”).

Stock Compensation I will be paid at the time of retirement in the form of shares of MHFG calculated based on their position. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual.

- 7 -

Stock Compensation II will be paid in the form of shares of MHFG and will be deferred over three years, which is calculated based on the status of achieving our Five-Year Business Plan. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual.

Upon the payment of stock compensation under the Program, MHFG may, for a certain portion, pay a monetary amount equivalent to the market value of its stock in lieu of stock compensation in accordance with the Rules on Distribution of Shares.

Voting rights related to MHFG’s shares belonging to the trust assets under the trust shall not be exercised.

(2) MHFG’s Shares Outstanding in the Trust

MHFG’s shares outstanding in the trust are recognized as Treasury Stock under Net Assets at the carrying amount (excluding the amount of incidental expenses) in the trust. The carrying amount of such Treasury Stock as of June 30, 2020 was ¥3,248 million for 18,304 thousand shares (the carrying amount as of March 31, 2020 was ¥3,485 million for 19,636 thousand shares).

Reserves for Possible Losses on Loans

In light of the principles set forth in the report entitled “Japanese Financial Services Agency (“JFSA”)’s supervisory approaches to lending business and loan loss provisioning” published by JFSA in December 18, 2019, we have reflected the potential impact of the COVID-19 pandemic on Reserves for Possible Losses on Loans for some credit. More specifically, we have identified certain industries and certain obligors that are expected to be significantly impacted by the COVID-19 pandemic. For these identified industries and obligors we have updated the estimated expected loss amount by incorporating certain assumptions such as the future recovery periods and the forecasted GDP growth rate in Japan. The method of the above accounting estimates and the major assumptions applied to the relevant estimates adopted in Consolidated Financial Statements for the First Quarter of Fiscal 2020 have not changed from those of Consolidated Financial Statements for previous Fiscal 2019.

Share Consolidation

The Board of Directors of the MHFG resolved in a meeting held on May 15, 2020 to include the following share consolidation in the agenda for the 18th Ordinary General Meeting of Shareholders held on June 25, 2020 and the agenda gained the approval in the Ordinary General Meeting of Shareholders.

(1) Purpose of the share consolidation

MHFG’s current share price is significantly below the desirable Trading Unit range of 50,000 yen to 500,000 yen designated by the Securities Listing Regulations of the Tokyo Stock Exchange.

In order to address this situation, we resolved to include the following share consolidation of common stock on the basis of one post-consolidation share per ten pre-consolidation shares in the agenda for the Ordinary General Meeting of Shareholders.

(2) Details of the share consolidation

i. Class of shares to be consolidated

Common Stock

ii. Consolidation rate

One post-consolidation share per ten pre-consolidation shares based on the shares owned by the shareholders recorded in the shareholder register as of September 30, 2020.

- 8 -

iii. Effective date

October 1, 2020

iv. Total number of Authorized Shares

5,130,000,000 shares

To be changed on the effective date of the share consolidation pursuant to Article 182, Paragraph 2 of Japan’s Companies Act.

v. Number of shares to be reduced by the consolidation (Number of shares to be reduced could be changed)

Total number of issued shares before the consolidation as of June 30, 2020	25,392,498,945
Number of shares to be reduced by the consolidation	22,853,249,051
Total number of issued shares after the consolidation	2,539,249,894

(Note) “Number of shares to be reduced by the consolidation” and “Total number of the issued shares after the consolidation” are theoretical figures based on the total number of the issued shares before the consolidation and the consolidation rate.

(3) Effect on per share information

Per share information would be as follows under the assumption that the share consolidation had taken place at the beginning of the fiscal year ended March 31, 2019.

	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Profit per Share of Common Stock	¥	64.05	¥	48.25
Diluted Profit per Share of Common Stock	¥	64.04	¥	48.25

Application of tax-effect accounting to the Transition from the Consolidated Taxation System to the Group Aggregation System

Some domestic consolidated subsidiaries of the Group record amounts of deferred tax assets and deferred tax liabilities based on the provisions of tax laws prior to amendment under the treatment in Paragraph 3 of “Treatment of the application of the tax-effect accounting in relation to the transition from the consolidated tax system to the aggregate group system” (Practical Solutions No.39 March 31, 2020), without applying the provisions of Paragraph 44 of “Guidance on Accounting Standard for tax-effect accounting” (Implementation Guidance No.28 February 16, 2018), regarding the tax items for which review of the non-consolidated Tax Payment System was implemented in accordance with the transition to the aggregated group system established under the “Act for Partial Revision of the Income Tax Act, etc.” (Act No. 8 of 2020) and the transition to the aggregated group system.

- 9 -

Notes to Quarterly Consolidated Balance Sheet

*1. Non-Accrual, Past Due & Restructured Loans, which are included in Loans and Bills Discounted, are as follows:

	(Millions of yen)
	As of March 31, 2020		As of June 30, 2020
Loans to Bankrupt Obligors		15,938		30,446
Non-Accrual Delinquent Loans		401,016		400,228
Loans Past Due for Three Months or More		1,468		3,459
Restructured Loans		256,429		311,804
Total		674,853		745,938

The amounts given in the above table are gross amounts before deduction of amounts for the Reserves for Possible Losses on Loans.

*2. Amounts of liabilities for guarantees on corporate bonds included in Securities, which were issued by private placement (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)

(Millions of yen)
As of March 31, 2020		As of June 30, 2020
	1,548,136		1,521,648

Notes to Quarterly Consolidated Statement of Income

*1. Other Ordinary Income includes the following:

	(Millions of yen)
	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Gains on Sales of Stocks		40,336		22,219

*2. Other Ordinary Expenses includes the following:

	(Millions of yen)
	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Provision for Reserves for Possible Losses on Loans		—		34,178
Stock-related Derivatives Expenses		571		17,524

*3. Extraordinary Gains includes the following:

	(Millions of yen)
	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Gains on Disposition of Fixed Assets		909		2,830

*4. Extraordinary Losses is as follows:

	(Millions of yen)
	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Losses on Impairment of Fixed Assets		2,508		1,170
Losses on Disposition of Fixed Assets		876		993

- 10 -

Notes to Quarterly Consolidated Statement of Cash Flows

We have not prepared Consolidated Statement of Cash Flows for the three months ended June 30, 2020. Depreciation (including Amortization of Intangible Fixed Assets excluding Goodwill) and Amortization of Goodwill for the three months ended June 30, 2019 and 2020 are as follows:

	(Millions of yen)
	For the three months ended June 30, 2019		For the three months ended June 30, 2020
Depreciation		30,107		40,245
Amortization of Goodwill		1,019		937

Changes in Net Assets

For the three months ended June 30, 2019

1. Cash dividends paid

Resolution	Type	Cash Dividends (Millions of yen)		Cash Dividends per Share (Yen)		Record Date	Effective Date	Resource of Dividends
May 15, 2019	Common Stock		95,197		3.75	March 31, 2019	June 4, 2019	Retained Earnings
The Board of Directors

(Note) Cash dividends based on the resolution of the Board of Directors held on May 15, 2019 include ¥70 million of cash dividends on treasury stock held by BBT trust account.

For the three months ended June 30, 2020

1. Cash dividends paid

Resolution	Type	Cash Dividends (Millions of Yen)		Cash Dividends per Share (Yen)		Record Date	Effective Date	Resource of Dividends
May 15, 2020	Common Stock		95,208		3.75	March 31, 2020	June 8, 2020	Retained Earnings
The Board of Directors

(Note) Cash dividends based on the resolution of the Board of Directors held on May 15, 2020 include ¥73 million of cash dividends on treasury stock held by BBT trust account.

- 11 -

Business Segment Information, etc.

Business Segment Information

1. Summary of reportable segment

MHFG has introduced an in-house company system based on the group’s diverse customer segments. The aim of this system is to leverage MHFG’s strengths and competitive advantage, which is the seamless integration of MHFG’s banking, trust and securities functions under a holding company structure, to speedily provide high-quality financial services that closely match customer needs.

Specifically, the company system is classified into the following five in-house companies, each based on a customer segment: the Retail & Business Banking Company, the Corporate & Institutional Company, the Global Corporate Company, the Global Markets Company, and the Asset Management Company.

The services that each in-house company is in charge of are as follows:

Retail & Business Banking Company:

Services for individual customers, small and medium-sized enterprises and middle market firms in Japan

Corporate & Institutional Company:

Services for large corporations, financial institutions and public corporations in Japan

Global Corporate Company:

Services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers, etc.

Global Markets Company:

Investment services with respect to interest rates, equities and credits, etc. and other services

Asset Management Company:

Development of products and provision of services that match the asset management needs of its wide range of customers from individuals to institutional investors

The reportable segment information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices.

- 12 -

2. Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others, and Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others by reportable segment

For the three months ended June 30, 2019

	(Millions of yen)
	MHFG (Consolidated)
	Retail & Business Banking Company			Corporate & Institutional Company		Global Corporate Company		Global Markets Company		Asset Management Company		Others (Note 2)
Gross profits: (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others		151,584			105,142		102,472		137,712		12,690		15,696		525,296
General and administrative expenses (excluding Non-Recurring Losses and others)		165,935			50,367		57,457		49,760		8,013		7,064		338,596
Equity in income from investments in affiliates		2,413			477		3,120		—		165		5,276		11,451
Amortization of goodwill and others		706			31		90		263		1,943		280		3,313
Others		—			—		—		—		—		(3,004	)	(3,004	)
Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others		(12,644	)		55,221		48,045		87,689		2,899		10,623		191,833

(Notes)	1.	“Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others” is reported instead of sales reported by general corporations. Net gains or losses related to ETFs and others amounted to ¥3,560 million, of which ¥1,677 million is included in the Global Markets Company.
	2.	“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
	3.	Following the change in allocation method for transactions between each segment and “Others” made in April, 2020, reclassification was made on the above table to reflect the relevant change.

- 13 -

For the three months ended June 30, 2020

	(Millions of yen)
	MHFG (Consolidated)
	Retail & Business Banking Company			Corporate & Institutional Company		Global Corporate Company		Global Markets Company		Asset Management Company		Others (Note 2)
Gross profits: (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others		142,583			116,831		112,986		168,594		11,387		5,708		558,089
General and administrative expenses (excluding Non-Recurring Losses and others)		161,280			53,099		60,979		52,749		7,879		4,657		340,643
Equity in income from investments in affiliates		1,715			1,481		2,802		—		9		(149	)	5,857
Amortization of goodwill and others		564			25		90		210		1,911		251		3,051
Others		—			—		—		—		—		—		—
Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others		(17,546	)		65,188		54,719		115,635		1,606		650		220,252

(Notes)	1.	“Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others” is reported instead of sales reported by general corporations. Net gains or losses related to ETFs and others amounted to ¥(11,469) million, of which ¥(12,827) million is included in the Global Markets Company.
	2.	“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.

- 14 -

3. The difference between the total amounts of Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others of reportable segments and the recorded amounts in the Quarterly Consolidated Statement of Income, and the contents of the difference (Matters relating to adjustment to difference)

The above total amounts of Net business profits or losses (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net gains or losses related to ETFs and others derived from internal management reporting are different from Income before income taxes recorded in the Quarterly Consolidated Statement of Income.

The contents of the difference for the three months ended June 30, 2019 and 2020, are as follows:

	(Millions of yen)
	For the three months ended June 30, 2019			For the three months ended June 30, 2020
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general reserve for losses on loans) + Net Gains (Losses) related to ETFs and others		191,833			220,252
Credit Costs for Trust Accounts		—			—
General and Administrative Expenses (non-recurring losses)		13,479			3,226
Expenses related to Portfolio Problems (including reversal of (provision for) general reserve for losses on loans)		(5,299	)		(41,177	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others		3,677			2,176
Net Gains (Losses) related to Stocks—Net Gains (Losses) related to ETFs and others		24,654			(1,500	)
Net Extraordinary Gains (Losses)		(2,474	)		670
Others		(8,495	)		(7,556	)
Income before Income Taxes recorded in Quarterly Consolidated Statement of Income		217,375			176,092

- 15 -

Securities

* In addition to “Securities” on the quarterly consolidated balance sheet, Negotiable Certificates of Deposit in “Cash and Due from Banks,” certain items in “Other Debt Purchased” and certain items in “Other Assets” are also included. Stocks and other securities without a market price and Investments in Partnerships are excluded.

1. Bonds Held to Maturity

As of March 31, 2020

	(Millions of yen)
	Consolidated Balance Sheet Amount		Fair Value		Difference
Japanese Government Bonds		479,936		493,293		13,356
Foreign Bonds		380,297		382,036		1,739
Total		860,233		875,329		15,096

As of June 30, 2020

					(Millions of yen)
	Quarterly Consolidated Balance Sheet Amount		Fair Value		Difference
Japanese Government Bonds		479,941		492,415		12,473
Foreign Bonds		353,215		354,514		1,299
Total		833,157		846,929		13,772

(Note) The fair value is based on market prices as of June 30, 2020 (March 31, 2020) and other data.

2. Other Securities

As of March 31, 2020

	(Millions of yen)
	Acquisition Cost		Consolidated Balance Sheet Amount		Difference
Stocks		1,272,069		2,338,429		1,066,360
Bonds		15,756,613		15,702,512		(54,100	)
Japanese Government Bonds		12,645,956		12,601,934		(44,021	)
Japanese Local Government Bonds		272,412		272,567		155
Japanese Corporate Bonds		2,838,244		2,828,010		(10,233	)
Other		15,137,799		15,296,686		158,886
Foreign Bonds		12,501,259		12,702,213		200,954
Other Debt Purchased		199,850		201,089		1,239
Other		2,436,690		2,393,383		(43,307	)
Total		32,166,482		33,337,628		1,171,146

- 16 -

As of June 30, 2020

	(Millions of yen)
	Acquisition Cost		Quarterly Consolidated    Balance Sheet Amount		Difference
Stocks		1,269,810		2,544,225		1,274,414
Bonds		19,302,924		19,239,404		(63,520	)
Japanese Government Bonds		16,092,231		16,038,029		(54,202	)
Japanese Local Government Bonds		358,903		358,739		(164	)
Japanese Corporate Bonds		2,851,789		2,842,635		(9,154	)
Other		15,902,240		16,053,752		151,512
Foreign Bonds		12,890,579		13,070,920		180,340
Other Debt Purchased		363,343		364,625		1,281
Other		2,648,317		2,618,207		(30,110	)
Total		36,474,975		37,837,381		1,362,405

(Notes)	1.	Unrealized Gains (Losses) include ¥(5,191) million and ¥(1,261) million, which were recognized in the statements of income for the year ended March 31, 2020 and the three months ended June 30, 2020, respectively, by applying the fair-value hedge method.
	2.	As for the quarterly consolidated balance sheet amount (consolidated balance sheet amount), in principle fair value of Japanese stocks with a quoted market price is determined based on the quoted market price as of June 30, 2020 (fair value of Japanese stocks with a quoted market price is determined based on the average quoted market price, or other reasonable value during the last month of the fiscal year ended March 31, 2020), and fair value of securities other than Japanese stocks is determined at the quoted market price if available, or other reasonable value as of June 30, 2020 (March 31, 2020).
	3.	Certain Securities other than Trading Securities (excluding Stocks and other securities without a market price and Investments in Partnerships) are devalued to the fair value, and the difference between the acquisition cost and the fair value is treated as the loss for the three months ended June 30, 2020 (the fiscal year ended March 31, 2020) (impairment (devaluation)), if the fair value (primarily the closing market price as of June 30, 2020 (March 31, 2020)) has significantly deteriorated compared with the acquisition cost (including amortized cost), and unless it is deemed that there is a possibility of a recovery in the fair value.
		The amount of impairment (devaluation) for the fiscal year ended March 31, 2020 was ¥41,655 million.
		The amount of impairment (devaluation) for the three months ended June 30, 2020 was ¥2,392 million.
		The criteria for determining whether a security’s fair value has “significantly deteriorated” are outlined as follows:
		•   Securities whose fair value is 50% or less of the acquisition cost
		•   Securities whose fair value exceeds 50% but is 70% or less of the acquisition cost and the quoted market price maintains a certain level or lower
	4.	Floating-rate Japanese Government Bonds
		Fair values of Floating-rate Japanese Government Bonds, according to our determination that current market prices may not reflect the fair value, are based on the reasonably calculated prices as book value on the quarterly consolidated balance sheet (consolidated balance sheet).
		In deriving the reasonably calculated prices, we used the Discounted Cash Flow method as well as other methods. The price decision variables include the yield of 10-year Japanese Government Bonds and the volatilities of interest rate swap options for 10-year Japanese Government Bonds as underlying assets.
	5.	In accordance with Article 27 of “ Implementation Guidance on Accounting Standard for Fair Value Measurement “ (ASBJ Guidance No. 31 July 4, 2019), Investments in Partnerships are not included in market value disclosure. Quarterly Consolidated Balance Sheet Amount (consolidated balance sheet amount) of Investments in Partnerships was ¥236,974 million and ¥241,569 million, which were recognized for the year ended March 31, 2020 and the three months ended June 30, 2020, respectively.

- 17 -

Money Held in Trust

1. Money Held in Trust Held to Maturity

There was no Money Held in Trust held to maturity.

2. Other in Money Held in Trust (other than for investment purposes and held to maturity purposes)

As of March 31, 2020
	(Millions of yen)
	Acquisition Cost		Consolidated Balance Sheet Amount		Difference
Other in Money Held in Trust		7,125		7,125		—
As of June 30, 2020
	(Millions of yen)
	Acquisition Cost		Quarterly Consolidated Balance Sheet Amount		Difference
Other in Money Held in Trust		7,738		7,738		—

- 18 -

Derivatives Information

(1) Interest Rate-Related Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		11,416,943		4,201			4,201
	Options		1,176,981		1,060			585
Over-the-Counter	FRAs		82,572,716		2,560			2,560
	Swaps		997,220,626		550,524			550,524
	Options		25,212,409		(62,776	)		(62,776	)
Inter-Company or Internal Transactions	Swaps		18,132,262		(141,481	)		(141,481	)
Total			—		354,090			353,615

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	Derivative transactions qualifying for hedge accounting under “Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Financial Instruments for Banks” (JICPA Industry Audit Committee Report No. 24, February 13, 2002) and others are excluded from the above table.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		9,167,789		2,836			2,836
	Options		1,023,183		(31	)		(340	)
Over-the-Counter	FRAs		85,125,550		581			581
	Swaps		972,848,818		513,639			513,639
	Options		26,121,021		(61,890	)		(61,890	)
Inter-Company or Internal Transactions	Swaps		18,839,480		(145,941	)		(145,941	)
Total			—		309,193			308,884

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
	2.	Derivative transactions qualifying for hedge accounting under “Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Financial Instruments for Banks” (JICPA Industry Audit Committee Report No. 24, February 13, 2002) and others are excluded from the above table.

- 19 -

(2) Currency-Related Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		61,986		—			—
Over-the-Counter	Swaps		57,638,817		1,219			(68,637	)
	Forwards		113,118,971		43,511			43,511
	Options		9,950,388		(15,886	)		(23,562	)
Inter-Company or Internal Transactions	Swaps		2,858,190		(151,891	)		8,698
	Forwards		7,127		19			19
Total			—		(123,027	)		(39,970	)

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	The following transactions are excluded from the above table:
		•   Transactions qualifying for hedge accounting under “Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Audit Committee Report No. 25, July 29, 2002) and others.
		•   Transactions which are specified for certain financial assets and liabilities denominated in foreign currencies and reflected on the consolidated balance sheet.
		•   Transactions denominated in foreign currencies which are eliminated in consolidation.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		45,235		—			—
Over-the-Counter	Swaps		59,289,678		11,514			(68,135	)
	Forwards		99,917,154		(23,378	)		(23,378	)
	Options		8,301,290		(14,635	)		(25,367	)
Inter-Company or Internal Transactions	Swaps		2,766,837		(135,280	)		14,294
	Forwards		6,895		165			165
Total			—		(161,614	)		(102,422	)

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
	2.	The following transactions are excluded from the above table:
		•   Transactions qualifying for hedge accounting under “Accounting and Auditing Treatment Relating to Adoption of Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Audit Committee Report No. 25, July 29, 2002) and others.
		•   Transactions which are specified for certain financial assets and liabilities denominated in foreign currencies and reflected on the quarterly consolidated balance sheet.
		•   Transactions denominated in foreign currencies which are eliminated in consolidation.

- 20 -

(3) Stock-Related Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Index Futures		676,867		7,602			7,602
	Index Futures Options		4,077,182		(8,285	)		(8,989	)
Over-the-Counter	Equity Linked Swaps		471,137		91,888			91,888
	Options		701,160		6,585			6,585
	Other		443,060		28,676			28,676
Total			—		126,467			125,764

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	Derivative transactions qualifying for hedge accounting are excluded from the above table.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Index Futures		895,024		2,719			2,719
	Index Futures Options		4,714,533		(14,538	)		(8,333	)
Over-the-Counter	Equity Linked Swaps		634,758		68,682			68,682
	Options		623,025		11,685			11,685
	Other		738,860		138,503			138,503
Total			—		207,052			213,258

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
	2.	Derivative transactions qualifying for hedge accounting are excluded from the above table.

(4) Bond-Related Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		1,249,813		(4,671	)		(4,671	)
	Futures Options		—		—			—
Over-the-Counter	Options		1,156,604		2,400			2,245
	Other		15,585		422			422
Total			—		(1,848	)		(2,003	)

(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value		Unrealized Gains (Losses)
Listed	Futures		645,188		353		353
	Futures Options		111,145		80		16
Over-the-Counter	Options		963,963		2,593		2,333
	Other		36,356		33		33
Total			—		3,060		2,736

(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.

- 21 -

(5) Commodity-Related Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		37,643		(2,696	)		(2,696	)
Over-the-Counter	Options		334,342		5,320			5,320
Total			—		2,623			2,623

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.
	2.	Commodities include oil, copper, aluminum and others.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Futures		40,250		(1,416	)		(1,416	)
Over-the-Counter	Options		320,364		4,624			4,624
Total			—		3,208			3,208

(Notes)	1.	The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.
	2.	Commodities include oil, copper, aluminum and others.

(6) Credit Derivative Transactions

As of March 31, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value		Unrealized Gains (Losses)
Over-the-Counter	Credit Derivatives		4,838,216		9,096		9,096
Total			—		9,096		9,096

(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statement of income.

As of June 30, 2020

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Over-the-Counter	Credit Derivatives		6,343,806		(13,455	)		(13,455	)
Total			—		(13,455	)		(13,455	)

(Note) The above transactions are marked to market, and changes in unrealized gains (losses) are included in the quarterly consolidated statement of income.

- 22 -

Per Share Information

Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock are based on the following information:

		For the three months ended June 30, 2019		For the three months ended June 30, 2020
(1)   Net Income per Share of Common Stock	Yen		6.40		4.82
(The basis used for calculating Net Income per Share of Common Stock)
Profit Attributable to Owners of Parent	Millions of yen		162,438		122,375
Amount not attributable to Common Stock	Millions of yen		—		—
Profit Attributable to Owners of Parent related to Common Stock	Millions of yen		162,438		122,375
Average Outstanding Shares of Common Stock (during the period)	Thousands of shares		25,360,510		25,360,835
(2)   Diluted Net Income per Share of Common Stock	Yen		6.40		4.82
(The basis used for calculating Diluted Net Income per Share of Common Stock)
Adjustment to Profit Attributable to Owners of Parent	Millions of yen		—		—
Increased Number of Shares of Common Stock	Thousands of shares		2,504		995
Stock Acquisition Rights	Thousands of shares		2,504		995
Description of dilutive securities which were not included in the calculation of Diluted Net Income per Share of Common Stock as they have no dilutive effects and in which significant changes occurred after the end of the previous fiscal year			—		—

(Note) In the calculation of Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock, MHFG shares outstanding in BBT trust account that were recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted in the calculation of the Average Outstanding Shares of Common Stock during the period. The average number of such Treasury Stock shares deducted during the three months ended June 30, 2019, was 18,662 thousand and the average number of such Treasury Stock shares deducted during the three months ended June 30, 2020, was 19,051 thousand.

- 23 -

II. Others

At the meeting of the Board of Directors held on May 15, 2020, the year-end cash dividends for the 18th term were resolved as follows:

Total amount of year-end cash dividends	¥95,208 million
Year-end cash dividends per share
Common Stock	¥3.75
Effective date and starting date of dividend payments	June 8, 2020

- 24 -