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 February 2024

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 ☐

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NO. 333-266555) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.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:	February 14, 2024
Mizuho Financial Group, Inc.
By:	/s/ Takefumi Yonezawa
Name:	Takefumi Yonezawa
Title:	Senior Executive Officer / Group CFO

UNAUDITED QUARTERLY CONSOLIDATED JAPANESE GAAP FINANCIAL STATEMENTS

AS OF AND FOR THE NINE MONTHS ENDED DECEMBER 31, 2023

On February 14, 2024, we published our unaudited quarterly consolidated financial statements as of and for the nine months ended December 31, 2023 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 and 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).

2. Ernst & Young ShinNihon LLC conducted a quarterly review on the quarterly consolidated financial statements of MHFG for the nine months ended December 31, 2023, 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, 2023			As of December 31, 2023
Assets
Cash and Due from Banks		67,152,100			66,675,039
Call Loans and Bills Purchased		1,386,895			1,028,132
Receivables under Resale Agreements		11,693,419			19,017,294
Guarantee Deposits Paid under Securities Borrowing Transactions		1,897,429			1,940,810
Other Debt Purchased		3,836,735			4,248,375
Trading Assets		17,404,494			21,391,511
Money Held in Trust		514,607			547,119
Securities	*1,*2	37,363,140		*1,*2	39,355,280
Loans and Bills Discounted	*1	88,687,155		*1	91,738,654
Foreign Exchange Assets	*1	2,408,587		*1	2,269,844
Derivatives other than for Trading Assets		2,184,875			2,737,723
Other Assets	*1	8,689,547		*1	8,240,489
Tangible Fixed Assets		1,105,851			1,123,832
Intangible Fixed Assets		572,719			687,648
Net Defined Benefit Asset		859,271			760,955
Deferred Tax Assets		316,168			199,286
Customers’ Liabilities for Acceptances and Guarantees	*1	8,905,643		*1	9,893,645
Reserves for Possible Losses on Loans		(720,437	)		(706,947	)
Reserve for Possible Losses on Investments		(1	)		(2	)
Total Assets		254,258,203			271,148,694

- 3 -

	(Millions of yen)
	As of March 31, 2023			As of December 31, 2023
Liabilities
Deposits		150,498,976			148,469,120
Negotiable Certificates of Deposit		13,788,347			17,556,689
Call Money and Bills Sold		1,814,873			1,555,058
Payables under Repurchase Agreements		25,735,560			35,273,822
Guarantee Deposits Received under Securities Lending Transactions		757,842			773,780
Commercial Paper		1,782,111			1,541,661
Trading Liabilities		12,698,007			15,001,675
Borrowed Money		4,155,480			5,608,362
Foreign Exchange Liabilities		671,552			848,057
Short-term Bonds		477,141			462,301
Bonds and Notes		11,371,189			11,365,532
Due to Trust Accounts		1,534,097			1,023,850
Derivatives other than for Trading Liabilities		2,749,138			4,033,563
Other Liabilities		7,777,025			7,490,377
Reserve for Bonus Payments		126,694			93,520
Reserve for Variable Compensation		2,381			1,894
Net Defined Benefit Liability		68,429			68,454
Reserve for Director and Corporate Auditor Retirement Benefits		539			589
Reserve for Possible Losses on Sales of Loans		15,049			21,794
Reserve for Contingencies		13,706			19,065
Reserve for Reimbursement of Deposits		13,695			10,918
Reserve for Reimbursement of Debentures		7,798			5,501
Reserves under Special Laws		3,352			3,354
Deferred Tax Liabilities		22,391			26,499
Deferred Tax Liabilities for Revaluation Reserve for Land		58,711			57,986
Acceptances and Guarantees		8,905,643			9,893,645
Total Liabilities		245,049,740			261,207,078
Net Assets
Common Stock and Preferred Stock		2,256,767			2,256,767
Capital Surplus		1,129,267			1,129,267
Retained Earnings		5,093,911			5,501,306
Treasury Stock		(8,786	)		(8,444	)
Total Shareholders’ Equity		8,471,160			8,878,897
Net Unrealized Gains (Losses) on Other Securities		564,495			773,273
Deferred Gains or Losses on Hedges		(358,102	)		(349,849	)
Revaluation Reserve for Land		129,321			127,792
Foreign Currency Translation Adjustments		144,093			294,788
Remeasurements of Defined Benefit Plans		182,306			137,584
Own Credit Risk Adjustments, Net of Tax		19			88
Total Accumulated Other Comprehensive Income		662,133			983,677
Stock Acquisition Rights		5			5
Non-controlling Interests		75,163			79,035
Total Net Assets		9,208,463			9,941,616
Total Liabilities and Net Assets		254,258,203			271,148,694

- 4 -

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income

  Quarterly Consolidated Statement of Income

	(Millions of yen)
	For the nine months ended December 31, 2022			For the nine months ended   December 31, 2023
Ordinary Income		4,308,147			6,160,482
Interest Income		2,050,840			4,061,818
Interest on Loans and Bills Discounted		1,175,714			2,020,883
Interest and Dividends on Securities		268,434			460,495
Fiduciary Income		43,548			45,536
Fee and Commission Income		640,453			738,392
Trading Income		1,056,220			909,834
Other Operating Income		389,222			251,861
Other Ordinary Income	*1	127,861		*1	153,038
Ordinary Expenses		3,649,996			5,277,631
Interest Expenses		1,326,742			3,404,582
Interest on Deposits		495,216			1,230,987
Fee and Commission Expenses		125,607			149,756
Trading Expenses		843,720			387,416
Other Operating Expenses		140,296			67,424
General and Administrative Expenses		1,057,623			1,172,275
Other Ordinary Expenses	*2	156,004		*2	96,176
Ordinary Profits		658,150			882,850
Extraordinary Gains	*3	41,945		*3	42,212
Extraordinary Losses	*4	10,134		*4	3,609
Income before Income Taxes		689,961			921,452
Income Taxes:
Current		94,750			224,731
Deferred		47,787			51,282
Total Income Taxes		142,537			276,014
Profit		547,423			645,438
Profit Attributable to Non-controlling Interests		4,146			3,118
Profit Attributable to Owners of Parent		543,277			642,320

- 5 -

  Quarterly Consolidated Statement of Comprehensive Income

	(Millions of yen)
	For the nine months ended  December 31, 2022			For the nine months ended  December 31, 2023
Profit		547,423			645,438
Other Comprehensive Income		(460,709	)		327,443
Net Unrealized Gains (Losses) on Other Securities		(491,119	)		210,789
Deferred Gains or Losses on Hedges		(150,531	)		8,422
Foreign Currency Translation Adjustments		195,641			136,694
Remeasurements of Defined Benefit Plans		(43,681	)		(44,367	)
Own Credit Risk Adjustments, Net of Tax		19			68
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		28,962			15,836
Comprehensive Income		86,714			972,881
(Breakdown)
Comprehensive Income Attributable to Owners of Parent		81,264			965,394
Comprehensive Income Attributable to Non-controlling Interests		5,450			7,487

- 6 -

Notes to Quarterly Consolidated Financial Statements

Changes in Accounting Policies

Implementation of ASU2016-13, “Measurement of Credit Losses on Financial Instruments”

Some overseas subsidiaries which apply U.S. GAAP and are considered non-public business entities have adopted ASU2016-13, “Measurement of Credit Losses on Financial Instruments” from the beginning of the first quarter ended June 30, 2023. This update has replaced the incurred loss impairment methodology under previous U.S. GAAP with a methodology that reflects expected credit losses with respect to financial instruments in the amortized cost category, and full lifetime expected credit losses have been estimated upon initial recognition and a reserve has been recognized. In adopting the accounting standard, Retained Earnings was adjusted for the cumulative effect at the beginning of the first quarter ended June 30, 2023 in accordance with transitional treatment set out in the accounting standard.

As a result, at the beginning of the first quarter ended June 30, 2023, Reserves for Possible Losses on Loans increased by ¥1,188 million, Reserves for Contingencies increased by ¥1,485 million and Retained Earnings decreased by ¥1,883 million.

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, Group Executive Officer, and Operating officers 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 Operating officers of MHFG, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd. (the “Company Group”) and other entities 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 responsibilities and others in their respective company (“Stock Compensation I”), the stock compensation program based on the performance evaluation of the Company Group (“Stock Compensation II”) and the stock compensation program based on Company Group Officer’s responsibilities in their respective company and the performance evaluation of the Company Group, which distributes MHFG’s shares to Operating officers of MHFG and certain consolidated subsidiaries (“Stock Benefit”).

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

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 financial-related indicators and evaluation of stakeholder-related indicators that the Company Group regard as important in order to improve corporate value over the medium to long term. A system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company or the individual.

Stock Benefit will be paid in the collective form of MHFG’s share, which is based on responsibilities in their respective company and the performance evaluation of the Company Group. Reduction and forfeit of the benefit can occur in the program.

- 7 -

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 December 31, 2023 was ¥4,509 million for 2,604 thousand shares (the carrying amount as of March 31, 2023 was ¥5,126 million for 3,231 thousand shares).

Reserves for Possible Losses on Loans

In light of the principles set forth in the report entitled “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 macroeconomic uncertainty and others on credit risks on Reserves for Possible Losses on Loans for some credit. More specifically, we estimate the expected losses using the assumptions adjusted for factors such as the Russia-Ukraine situation, the US-China confrontation and others in addition to the recovery of inbound tourist demand following the end of COVID-19, the inflation of import prices and others due to the depreciation of the yen and others. These assumptions include the forecasted GDP growth rate, energy prices, financial variables including interest rates and exchange rates, the future outlook of the business environment for specific portfolio segments, increased rate of labor cost, and the impact of the downturn of the semiconductor market and its potential prolongation. There are no material changes in the methods of the above accounting estimates and the major assumptions used in the consolidated financial statements from those of the previous fiscal year.

In addition, expected losses which are assumed may occur in the future due to difficulties in foreign currency cash management influenced by economic sanctions against Russia, in claims for which transfer risk has not been avoided, are recognized as Reserve for Possible Losses on Loans to Restructuring Countries. The expected losses are calculated based on evaluation of Russian country risk and past defaults which are announced by external rating firms and others. The amount of Reserve for Possible Losses on Loans to Restructuring Countries for the nine months ended December 31, 2023 is ¥34,784 million, which includes ¥33,189 million against the claims related to Russia.

- 8 -

Notes to Quarterly Consolidated Balance Sheet

*1. Claims based on Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions are as follows. The claims consist of those included in the accounts of bonds included in “Securities” (its principal’s redemption and interest payments are guaranteed, in whole or in part, and the corporate bonds issue is limited to a private placement of the securities (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act)), “Loans,” “Foreign Exchanges Assets,” accrued interest and suspense payment in “Other Assets” and “Customers’ Liabilities for Acceptances and Guarantees” in the consolidated balance sheet, and securities in the notes in case they are loans (limited to those under a loan for use or lease agreement).

	(Millions of yen)
	As of March 31, 2023	As of December 31, 2023
Claims against Bankrupt and Substantially Bankrupt Obligors	43,866	34,906
Claims with Collection Risk	655,396	642,395
Claims for Special Attention	372,433	500,579
Loans Past Due for 3 Months or More	288	751
Restructured Loans	372,144	499,828
Sub-total	1,071,696	1,177,881
Normal Claims	100,457,014	104,296,107
Total	101,528,710	105,473,988

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, 2023	As of December 31, 2023
1,134,235	1,069,382

- 9 -

Notes to Quarterly Consolidated Statement of Income

*1. Other Ordinary Income includes the following:

	(Millions of yen)
	For the nine months ended   December 31, 2022		For the nine months ended  December 31, 2023
Gains on Sales of Stocks		92,867		122,862

*2. Other Ordinary Expenses includes the following:

	(Millions of yen)
	For the nine months ended   December 31, 2022		For the nine months ended  December 31, 2023
Stock-related Derivatives Expenses		1,735		27,904

*3. Extraordinary Gains includes the following:

	(Millions of yen)
	For the nine months ended   December 31, 2022		For the nine months ended  December 31, 2023
Gains on Cancellation of Employee Retirement Benefit Trust		41,270		36,789

*4. Extraordinary Losses includes the following:

	(Millions of yen)
	For the nine months ended   December 31, 2022		For the nine months ended  December 31, 2023
Losses on Disposition of Fixed Assets		5,364		3,078

- 10 -

Notes to Quarterly Consolidated Statement of Cash Flows

We have not prepared Consolidated Statement of Cash Flows for the nine months ended December 31, 2023. Depreciation (including Amortization of Intangible Fixed Assets excluding Goodwill) and Amortization of Goodwill for the nine months ended December 31, 2022 and 2023 are as follows:

	(Millions of yen)
	For the nine months ended   December 31, 2022		For the nine months ended  December 31, 2023
Depreciation		121,153		124,502
Amortization of Goodwill		2,903		2,872

Changes in Net Assets

For the nine months ended December 31, 2022

1. Cash dividends paid

Resolution	Type	Cash Dividends (Millions of yen)		Cash Dividends per Share (Yen)		Record Date		Effective Date		Resource of Dividends
May 13, 2022 The Board of Directors	Common Stock		101,542		40.00		March 31, 2022		June 6, 2022		Retained Earnings
November 14, 2022 The Board of Directors	Common Stock		107,889		42.50		September 30, 2022		December 6 2022		Retained Earnings

(Notes)	1.	Cash dividends based on the resolution of the Board of Directors held on May 13, 2022 include ¥123 million of cash dividends on treasury stock held by BBT trust account.
	2.	Cash dividends based on the resolution of the Board of Directors held on November 14, 2022 include ¥137 million of cash dividends on treasury stock held by BBT trust account.

For the nine months ended December 31, 2023

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, 2023 The Board of Directors	Common Stock		107,882		42.50		March 31, 2023		June 6, 2023		Retained Earnings
November 13, 2023 The Board of Directors	Common Stock		126,919		50.00		September 30, 2023		December 6, 2023		Retained Earnings

(Notes)	1.	Cash dividends based on the resolution of the Board of Directors held on May 15, 2023 include ¥137 million of cash dividends on treasury stock held by BBT trust account.
	2.	Cash dividends based on the resolution of the Board of Directors held on November 13, 2023 include ¥130 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 (RBC), the Corporate & Investment Banking Company (CIBC), the Global Corporate & Investment Banking Company (GCIBC), the Global Markets Company (GMC), and the Asset Management Company (AMC).

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

RBC:

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

CIBC:

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

GCIBC:

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

GMC:

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

AMC:

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.

Effective as of April 1, 2023, MHFG partially restructured its in-house company system. CIBC was newly established by the integration of the Corporate & Institutional Company and the investment banking functions of the Global Products Unit. With the establishment of CIBC, the Global Corporate Company changed its name to GCIBC.

- 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 nine months ended December 31, 2022

	(Millions of yen)
	MHFG (Consolidated)
	RBC			CIBC		GCIBC		GMC			AMC			Others (Note 2)
Gross profits: (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others		504,572			356,148		454,903		330,356			41,205			62,294	1,749,478
General and administrative expenses (excluding Non-Recurring Losses and others)		449,215			149,511		221,294		184,509			26,127			48,984	1,079,640
Equity in income from investments in affiliates		(2,820	)		5,699		14,870		—			(319	)		3,185	20,615
Amortization of goodwill and others		1,553			68		444		578	��		5,146			805	8,594
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		50,984			212,268		248,035		145,269			9,613			15,689	681,858

(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 ¥5,559 million, of which ¥2,856 million is included in the GMC.
	2.	“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
	3.	Following the partial restructuring of in-house companies and the change in allocation method for transactions between each segment and “Others” made in April 2023, reclassification was made on the above table to reflect the relevant change.

- 13 -

For the nine months ended December 31, 2023

	(Millions of yen)
	MHFG (Consolidated)
	RBC			CIBC		GCIBC		GMC		AMC			Others (Note 2)
Gross profits: (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others		531,718			396,192		485,595		433,133		41,366			130,044	2,018,048
General and administrative expenses (excluding Non-Recurring Losses and others)		467,625			157,232		251,521		222,026		26,605			66,076	1,191,085
Equity in income from investments in affiliates		5,260			6,005		17,689		—		(12,289	)		444	17,109
Amortization of goodwill and others		—			—		652		—		4,855			871	6,378
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		69,353			244,965		251,111		211,107		(2,383	)		63,540	837,693

(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 ¥19,784 million, of which ¥17,149 million is included in the GMC.
	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 nine months ended December 31, 2022 and 2023, are as follows:

	(Millions of yen)
	For the nine months ended December 31, 2022			For the nine months ended December 31, 2023
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		681,858			837,693
General and Administrative Expenses (non-recurring losses)		30,610			25,188
Expenses related to Portfolio Problems (including reversal of (provision for) general reserve for losses on loans)		(70,153	)		(19,218	)
Gains on Reversal of Reserves for Possible Losses on Loans, and others		4,791			5,320
Net Gains (Losses) related to Stocks—Net Gains (Losses) related to ETFs and others		41,933			59,769
Net Extraordinary Gains (Losses)		31,810			38,602
Others		(30,890	)		(25,902	)
Income before Income Taxes recorded in Quarterly Consolidated Statement of Income		689,961			921,452

Financial Instruments

There are no significant changes to be noted compared with the amounts for the fiscal year ended March 31, 2023.

Securities

There are no significant changes to be noted compared with the amounts for the fiscal year ended March 31, 2023.

Money Held in Trust

There are no significant changes to be noted compared with the amounts for the fiscal year ended March 31, 2023.

- 15 -

Derivatives Information

The classification, type, contract value, fair value and unrealized gains (losses) which are material for operations of the corporate group and have changed significantly in comparison to the end of fiscal year ended March 31, 2023 are as follows:

(1) Interest Rate and Bond-Related Transactions

As of March 31, 2023

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Interest Rate Futures		133,198,056		105,460			105,460
Total			—		105,460			105,460

(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 Committee Practical Guideline No. 24, March 17, 2022) and others are excluded from the above table.

As of December 31, 2023

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Listed	Interest Rate Futures		77,090,732		53,606			53,606
Total			—		53,606			53,606

(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 Committee Practical Guideline No. 24, March 17, 2022) and others are excluded from the above table.

- 16 -

(2) Currency-Related Transactions

As of March 31, 2023

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Over-the-Counter	Forwards		137,422,181		16,369			16,369
Inter-Company or Internal Transactions	Forwards		387		12			12
Total			—		16,381			16,381

(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 Committee Practical Guideline No. 25, October 8, 2020) 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 December 31, 2023

(Millions of yen)
Classification	Type	Contract Value		Fair Value			Unrealized Gains (Losses)
Over-the-Counter	Forwards		148,365,576		(235,174	)		(235,174	)
Inter-Company or Internal Transactions	Forwards		54,059		(2,055	)		(2,055	)
Total			—		(237,230	)		(237,230	)

(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 Committee Practical Guideline No. 25, October 8, 2020) 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.

- 17 -

Revenue recognition

	(Millions of yen)
	For the nine months ended December 31, 2022		For the nine months ended December 31, 2023
Ordinary Income		4,308,147		6,160,482
Fee and Commission Income		640,453		738,392
Deposits and Lending business (1)		213,062		246,179
Securities-related business		124,406		179,282
Remittance business		79,358		78,307
Trust-related business		50,599		52,932
Guarantee-related business (2)		30,088		31,319
Agency business		27,885		28,563
Fees for other customer services		115,053		121,807
Fiduciary Income		43,548		45,536
Other Ordinary Income (1)		3,624,144		5,376,552

Notes:

(1) Part of these amounts are considered to be revenues from contracts that are within the scope of “Accounting Standard for Revenue Recognition”.

(2) These amounts are revenues from contracts that do not meet the scope of “Accounting Standard for Revenue Recognition”.

(3) In the above table, revenues that are within the scope of “Accounting Standard for Revenue Recognition” are mainly generated from “Retail & Business Banking Company”, “Corporate & Investment Banking Company” and “Global Corporate & Investment Banking Company”.

- 18 -

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 nine months ended December 31, 2022		For the nine months ended December 31, 2023
(1)   Net Income per Share of Common Stock	Yen		214.36		253.41
(The basis used for calculating Net Income per Share of Common Stock)
Profit Attributable to Owners of Parent	Millions of yen		543,277		642,320
Amount not attributable to Common Stock	Millions of yen		—		—
Profit Attributable to Owners of Parent related to Common Stock	Millions of yen		543,277		642,320
Average Outstanding Shares of Common Stock (during the period)	Thousands of shares		2,534,327		2,534,658
(2)   Diluted Net Income per Share of Common Stock	Yen		214.36		253.41
(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		19		2
Stock Acquisition Rights	Thousands of shares		19		2
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 nine months ended December 31, 2022 was 3,290 thousand, and the average number of such Treasury Stock shares deducted during the nine months ended December 31, 2023 was 2,775 thousand.

- 19 -

II. Others

At the meeting of the Board of Directors held on November 13, 2023, the interim cash dividends for the 22nd term were resolved as follows:

Total amount of interim cash dividends	¥126,919 million
Interim cash dividends per share
Common Stock	¥50.00
Effective date and starting date of dividend payments	December 6, 2023

- 20 -