2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.
[Under Japanese GAAP]

2

Independent Auditor’s Report

6

Consolidated Financial Statements

18

Notes to Consolidated Financial Statements－ 1 －Financial Data of Mizuho Financial Group, Inc.-Index

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report

Independent Auditor’s Report
The Board of Directors
Mizuho Financial Group, Inc.
OpinionWe have audited the accompanying consolidated financial statements of Mizuho Financial Group, Inc. and its consolidated
subsidiaries (the Group), which comprise the consolidated balance sheet as at March 31, 2023, and the consolidated
statements of income, comprehensive income, changes in net assets, and cash flows for the year then ended, and notes tothe consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated
financial position of the Group as at March 31, 2023, and its consolidated financial performance and its consolidated cash
flows for the year then ended in accordance with accounting principles generally accepted in Japan.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in Japan. Our responsibilities under thosestandards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our
audit of the consolidated financial statements in Japan, and we have fulfilled our other ethical responsibilities in accordancewith these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of theconsolidated financial statements of the current period. These matters were addressed in the context of the audit of theconsolidated financial statements as a whole, and in forming the auditor’s opinion thereon, and we do not provide a separate
opinion on these matters.
1. Reasonableness of Reserves for Possible Losses on Corporate Loans
Description of Key Audit Matter

Auditor’s Response

As described in (10) “Reserves for Possible Losses on
Loans” in Note 5 “Standards of Accounting Method,” theGroup recognizes the reserves for loan losses based on theinternally established standards for self-assessment ofloans and for write-offs and reserves. The standards
consider the obligor’s financial condition, valuation ofcollateral and expectation of future economic conditions.
When the credit risk of receivables held at the end of the
fiscal year is significantly different from the past due tochanges in the environment or other factors, the reserve isadjusted by management to consider factors such as
economic uncertainty. In this fiscal year, the Group madeadditional reserves for loan portfolios of similar credit risk
characteristics with a high probability of losses by using theexisting credit risk management framework and considering
economic uncertainty of the external environment.
The Group has Loans of ¥88,687,155 million, which
represent approximately 34% of total assets, and theReserves for Possible Losses on Loans of ¥720,437 million
as of March 31, 2023. Of the Reserves for Possible Losses
recorded on the consolidated balance sheet, corporateloans managed by Mizuho Bank, Ltd account for the largepart of the amount.
In estimating the reserves for loan losses, management
uses several assumptions. As described in Note 7 “Critical
Accounting Estimates”, the Group considers “Forecast for
obligors used for assigning internal credit ratings and for
discounted cash flow method” and “Forecast of the external
environment used for making necessary adjustment to
expected loss” as key assumptions.

We addressed the matter in our audit primarily through thefollowing audit procedures:(1) Evaluation of design and operating effectiveness of theGroup’s internal controls
We obtained an understanding, evaluated the design andtested the operating effectiveness of the following
controls over the Group’s process for establishing thereserves for loan losses.
･ Controls for framework to evaluate and monitor obligor
ratings and self-assessment of loans･ Controls that evaluate the expected future cash flows
used to determine reserve amounts･ Controls that evaluate and approve the adjustments toreflect management’s consideration including
identification of specific loan portfolios where losses
are likely to occur and determination of the method for
adjusting the reserves for loan losses.
(2) Substantive procedures
In assessing “Forecast for obligors used for assigninginternal credit ratings and for discounted cash flow
method”, we have primarily performed the following audit
procedures:･ Considered both quantitative and qualitative
perspective, various risks, such as industry, sector andfinancial condition of the obligor in determining
samples of obligors.
･ Made inquiry of several personnel/
management to evaluate appropriateness ofmanagement’s evaluation of obligors’ ability to earn
future revenue－ 2 －Independent Auditor’s Report2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report

Description of Key Audit Matter

Auditor’s Response“Forecast for obligors used for assigning internal credit ratings andfor discounted cash flow method” is based on the obligors’
business performance, status of obligors’ debt, industry
characteristics, business plan establishment as well as their abilityof earning a profit under the future outlook of businessenvironment for each industry. As the obligors’ ability of earning a
profit is impacted by internal and external business environment,
degree of uncertainty is high and determining these assumptions
involves management’s subjective judgment.
“Forecast of the external environment used for making necessary
adjustment to expected loss” is based on macroeconomic
scenarios, specifically, the Group incorporated the estimatedimpact of a recovery in inbound demand and elevated global
inflation with the convergence of COVID-19 as well as the Russia
Ukraine situation and a conflict between the U.S. and China into
macroeconomic scenario by using assumptions such as
anticipated business forecast by industry, current forecast for thegrowth rate of gross domestic product, natural resource prices,financial indices such as interest rates or foreign currency rates
and impact of a decline in semiconductor production. The Group’s
macroeconomic scenarios are especially based on the future
outlook of business environment for each industry , which involve
high degree of uncertainty and management’s subjective
judgment.
These key assumptions used for estimating the reserves for loan
losses involve significant judgment by management and have asignificant impact on the financial statements. In addition, changes
in estimates would significantly impact on the Group’s financial
position and operating results.
Accordingly, we have identified the reasonableness of Reserves
for Possible Losses on Corporate Loans as a key audit matter.

･ Compared external industry report, obligor’s publicly
available information and information reported by the
media to evaluate appropriateness of management’s
evaluation of obligor’s business plan･ Read supporting documentation and tested
consistency with financial information of the obligor toevaluate appropriateness of management’s evaluationof obligor’s substantial financial condition
In assessing “Forecast of the external environment used
for making necessary adjustment to expected loss”, wehave primarily performed the following audit procedures.
･ Compared growth rate of gross domestic product,
natural resource prices, financial indices such as
interest rates and foreign currency rates, the future
outlook of business environment for each industry andthe impact of the decline of semiconductor production
with external economic forecast reports, inspectedunderlying documents and made inquiry of relevant
department in order to evaluate macroeconomic
scenarios set by management.
･ Involved our specialist in calculating certain
assumptions, where complex, to determine adjustment
to expected loss

2. Appropriateness of fair value measurement of derivatives classified within Level 3
Description of Key Audit Matter

Auditor’s Response

As described in 1. “Matters Relating to the Conditions ofFinancial Instruments” in Note 41 “Financial Instruments,”
the Group carries various types of over-the-counter
derivatives (equity related contracts, interest rate contracts,
foreign exchange contracts, and credit-related contracts) for
banking and certain trading activities and for securities
related business at certain subsidiaries.
The Group discloses in 2. “Matters relating to fair value offinancial instruments and breakdown of fair value by level”
in Note 41 “Financial instruments” related to valuation
models and inputs used as well as financial instruments
classified within Level 3 of the fair value hierarchy recordedon the consolidated balance sheet.
The Group carried financial assets and liabilities at fairvalue of ¥17,404,494 million and ¥12,698,007, respectively,
as of March 31, 2023. Among those, derivative assets andliabilities are ¥2,184,875 million and ¥2,749,138 million,
respectively. Derivative transactions, which are measured
at fair value using significant unobservable inputs that aresupported by little or no market activity and classified within
Level 3 of the fair value hierarchy, are presented net of¥179,006 in 2. “Matters relating to fair value of financial
instruments and breakdown of fair value by level” in Note
41“Financial instruments”.

We addressed the matter in our audit primarily through thefollowing audit procedures:(1) Evaluation of design and operating effectiveness of theGroup’s internal controls
We obtained an understanding, evaluated the design andtested the operating effectiveness of the following
controls over the Group’s derivatives fair valuation
processes:･ Controls for appropriateness of adoption of or changes
to valuation techniques and periodic monitoring of thecurrent valuation techniques performed by middleoffice･ Controls over significant inputs in the fair value
measurements performed by middle-office and backoffice･ Reconciliation of collateral amounts managed by theGroup with counterparty and un-match analysis, if any,
performed by back-office(2) Substantive procedures
We have primarily performed the following audit
procedures:･ Involved our specialists and inspected the outcome of
the Group’s independent price verification (IPV)process and assessed any issues in the fair value
measurement identified through IPV and evaluated the
management judgment.

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Description of Key Audit Matter

Auditor’s Response

In calculating fair value of Level 3 derivatives, management
utilizes internally developed option pricing models and discountcash flow models and unobservable inputs such as correlation
between interest rates and foreign exchange rates and volatility
which are determined based on customary business practicewithin industry and should reflect changes in the market on atimely manner.
Determination of these valuation techniques requires significant
judgments as complexity involves in certain assumptions used in
the calculation and no valuation techniques are required in thefinancial reporting framework. Unobservable inputs used bymanagement to estimate the fair value of these derivatives involve
estimation uncertainty and requires significant judgment as inputs
used in the fair value measurements are unobservable.
Also, valuation models and unobservable inputs would
significantly impact on the fair value measurement of the Group’s
financial instruments and would significantly impact on theGroup’s financial position and operating results.
Accordingly, we have identified the fair value measurement ofderivatives classified within Level 3 as a key audit matter.

･ Evaluated significant unobservable inputs bycomparing the inputs with third-party market
information, where available. To select samples, weconsidered the risks in terms of the degree ofmanagement’s bias involved in setting those
unobservable inputs as well as the quantitative impact
on the fair value measurement.
･ Involved our specialists and evaluated the actualassumptions inherent in the valuation techniques
utilized to determine fair value by comparing them with
our understanding of market practices.
･ Involved our specialists and evaluated whether the fairvalue calculated by the management for eachtransaction was within an acceptable range bycomparing it with fair value calculated by us. To selectsamples, we considered quantitative impact on the fairvalue measurements.

Other Information
The other information comprises the information included in Financial Data of Mizuho Financial Group, Inc. that contains
audited consolidated financial statements but does not include the consolidated financial statements and our auditor’s report
thereon. Management is responsible for preparation and disclosure of the other information. The Audit Committee is
responsible for overseeing the Group’s reporting process of the other information.
Our opinion on the consolidated financial statements does not cover the other information and we do not express any form ofassurance conclusion thereon.
In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Responsibilities of Management, and the Audit Committee for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements inaccordance with accounting principles generally accepted in Japan, and for such internal control as management determines
is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether
due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue
as a going concern and disclosing, as required by accounting principles generally accepted in Japan, matters related togoing concern.
The Audit Committee is responsible for overseeing the Group’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are freefrom material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial
statements.
As part of an audit in accordance with auditing standards generally accepted in Japan, we exercise professional judgment
and maintain professional skepticism throughout the audit. We also:･ Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion.
･ Consider internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances
for our risk assessments, while the purpose of the audit of the consolidated financial statements is not expressing an
opinion on the effectiveness of the Group’s internal control.
･ Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

－ 4 －Independent Auditor’s Report2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report･ Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to
draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if suchdisclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going
concern.
･ Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures,and whether the consolidated financial statements represent the underlying transactions and events in a manner that
achieves fair presentation in accordance with accounting principles generally accepted in Japan.
･ Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within
the Group to express an opinion on the consolidated financial statements. We are responsible for the direction,
supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with the Audit Committee regarding, among other matters, the planned scope and timing of the audit andsignificant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide the Audit Committee with a statement that we have complied with the ethical requirements regarding
independence that are relevant to our audit of the consolidated financial statements in Japan, and to communicate with them
all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
From the matters communicated with the Audit Committee, we determine those matters that were of most significance in theaudit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in
extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Interest Required to Be Disclosed by the Certified Public Accountants Act of Japan
Our firm and its designated engagement partners do not have any interest in the Group which is required to be disclosed
pursuant to the provisions of the Certified Public Accountants Act of Japan.
Convenience Translation
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31,
2023 are presented solely for convenience. Our audit also included the translation of Japanese yen amounts into U.S. dollar
amounts and, in our opinion, such translation has been made on the basis described in Note 1 to the consolidated financial
statements.
Ernst & Young ShinNihon LLC
Tokyo, Japan
July 31, 2023

Noboru Miura
Designated Engagement Partner
Certified Public Accountant

Kenjiro Tsumura
Designated Engagement Partner
Certified Public Accountant

Mitsuhiro Nagao
Designated Engagement Partner
Certified Public Accountant

Takahiro Fujimoto
Designated Engagement Partner
Certified Public Accountant－ 5 －Independent Auditor’s Report2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Balance Sheet
Millions of yen
2023

As of March 31,

AssetsCash and Due from Banks (Notes 17, 39, 41 and 42)
Call Loans and Bills Purchased (Note 41)
Receivables under Resale Agreements (Note 41)
Guarantee Deposits Paid under Securities Borrowing Transactions(Note 41)
Other Debt Purchased (Notes 41 and 42)
Trading Assets (Notes 10, 17, 41 and 42)
Money Held in Trust (Notes 41 and 42)
Securities (Notes 9, 11, 17, 26, 41 and 42)
Loans and Bills Discounted (Notes 12, 17 and 41)
Foreign Exchange Assets (Notes 13 and 41)
Derivatives other than for Trading Assets (Notes 41 and 43)
Other Assets (Notes 14, 17 and 42)
Tangible Fixed Assets (Notes 15, 28 and 40)
Intangible Fixed Assets (Note 40)
Net Defined Benefit Asset (Note 25)
Deferred Tax Assets (Note 27)
Customers' Liabilities for Acceptances and Guarantees (Note 26)
Reserves for Possible Losses on Loans (Notes 16 and 41)
Reserve for Possible Losses on Investments
Total Assets－ 6 －Consolidated Balance Sheet¥ 67,152,100
1,386,895
11,693,419

2022¥ 51,359,301
940,008
12,750,363

1,897,429
2,340,089
3,836,735
3,476,021
17,404,494
13,221,415
514,607591,183
37,363,140
44,641,060
88,687,155
84,736,280
2,408,587
2,627,492
2,184,875
2,277,160
8,689,547
7,797,796
1,105,851
1,095,977
572,719
601,292
859,271863,217
316,168
184,594
8,905,643
8,346,878(720,437)(783,886)(1)(107)¥ 254,258,203 ¥ 237,066,142

Thousands of
U.S. dollars (Note 1)
2023$

502,861,320
10,385,621
87,564,919

14,208,698
28,730,981
130,331,692
3,853,580
279,789,880
664,124,275
18,036,448
16,361,208
65,070,745
8,281,053
4,288,750
6,434,559
2,367,591
66,688,960(5,394,923)(9)$ 1,903,985,348

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Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Balance Sheet—(Continued)
Millions of yen
2023

As of March 31,

2022

Liabilities and Net Assets
Liabilities
Deposits (Notes 17, 18 and 41)¥ 164,287,324 ¥ 155,699,803
Call Money and Bills Sold (Notes 19 and 41)
1,814,873
1,278,050
Payables under Repurchase Agreements (Notes 17 and 41)
25,735,560
20,068,779
Guarantee Deposits Received under Securities Lending
757,842
1,172,248
Transactions (Notes 17 and 41)
Commercial Paper (Note 20)
1,782,111
1,775,859
Trading Liabilities (Notes 10 and 41)
12,698,007
9,608,976
Borrowed Money (Notes 17, 21 and 41)
4,155,480
6,590,527
Foreign Exchange Liabilities (Notes 13 and 41)
671,552
1,508,453
Short-term Bonds (Note 22)477,141
537,167
Bonds and Notes (Notes 23 and 41)
11,371,189
10,714,004
Due to Trust Accounts (Note 41)
1,534,097
1,167,284
Derivatives other than for Trading Liabilities (Notes 41 and 43)
2,749,138
2,770,852
Other Liabilities (Note 24)
7,777,025
6,301,484
Reserve for Bonus Payments
126,694
120,052
Reserve for Variable Compensation
2,381
2,278
Net Defined Benefit Liability (Note 25)
68,42971,774
Reserve for Director and Corporate Auditor Retirement Benefits
539
557
Reserve for Possible Losses on Sales of Loans
15,0491,309
Reserve for Contingencies
13,706
6,622
Reserve for Reimbursement of Deposits
13,695
17,620Reserve for Reimbursement of Debentures
7,798
10,504
Reserves under Special Laws
3,352
3,132
Deferred Tax Liabilities (Note 27)
22,39130,923
Deferred Tax Liabilities for Revaluation Reserve for Land (Note 28)
58,711
59,962
Acceptances and Guarantees (Note 26)
8,905,643
8,346,878
Total Liabilities¥ 245,049,740 ¥ 227,865,110
Net Assets
Common Stock (Note 29)¥
2,256,767 ¥2,256,767
Capital Surplus
1,129,267
1,125,324
Retained Earnings
5,093,911
4,756,435
Treasury Stock (Note 29)(8,786)(8,342)
Total Shareholders' Equity
8,471,160
8,130,185
Net Unrealized Gains (Losses) on Other Securities (Note 42)564,495
719,822
Deferred Gains or Losses on Hedges(358,102)(76,757)
Revaluation Reserve for Land (Note 28)
129,321132,156
Foreign Currency Translation Adjustments
144,093
2,346
Remeasurements of Defined Benefit Plans (Note 25)
182,306
169,652
Own Credit Risk Adjustments, Net of Tax
19(23)
Total Accumulated Other Comprehensive Income
662,133
947,197
Stock Acquisition Rights (Note 30)
594
Non-controlling Interests
75,163
123,555
Total Net Assets
9,208,463
9,201,031
Total Liabilities and Net Assets¥ 254,258,203 ¥ 237,066,142
See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements.

－ 7 －Consolidated Balance Sheet

Thousands of
U.S. dollars (Note 1)2023$ 1,230,248,046
13,590,489
192,717,991
5,675,025
13,345,148
95,087,669
31,117,874
5,028,848
3,573,025
85,151,938
11,487,927
20,586,631
58,237,423
948,736
17,837
512,425
4,040
112,699
102,641
102,555
58,397
25,106167,675
439,651
66,688,960$ 1,835,028,756$

16,899,562
8,456,402
38,145,210(65,794)
63,435,380
4,227,162(2,681,613)
968,413
1,079,026
1,365,182
147
4,958,317
41
562,854
68,956,592$ 1,903,985,348

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Consolidated Statement of Income

2022

Thousands of
U.S. dollars (Note 1)
2023¥ 3,178,214
58,958915,534
992,631452,853
231,467
5,829,660¥ 1,309,009
60,490905,575
1,017,889
393,956354,366
4,041,287$ 23,799,723
441,505
6,855,881
7,433,217
3,391,142
1,733,322
43,654,790

2,217,636
163,841
657,923
280,386
1,445,283
285,625
5,050,696
778,964

315,550
164,579
730,204
224,116
1,392,896
610,067
3,437,415
603,872

16,606,530
1,226,906
4,926,787
2,099,647
10,822,851
2,138,876
37,821,597
5,833,193

180,716(9,911)
48,029218,834
560,130
4,602
555,527130,079(12,738)(56,652)
60,688543,183
12,703
530,479

1,353,276(74,221)359,6631,638,718
4,194,475
34,4684,160,007Millions of yen
2023

For the Fiscal Years ended March 31,

IncomeInterest Income (Note 31)
Fiduciary Income
Fee and Commission Income
Trading Income (Note 32)
Other Operating Income (Note 33)
Other Income (Note 35)
Total Income
Expenses
Interest Expenses (Note 31)
Fee and Commission Expenses
Trading Expenses (Note 32)
Other Operating Expenses (Note 34)
General and Administrative Expenses
Other Expenses (Note 36)
Total Expenses
Income before Income Taxes
Income Taxes:
Current
Refund of Income Taxes
Deferred
Total Income Taxes
ProfitProfit Attributable to Non-controlling Interests
Profit Attributable to Owners of Parent¥

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements.

－ 8 －Consolidated Statement of Income¥$

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Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Per Share of Common Stock
Yen
2023

As of March 31,

Net Income:
Basic
DilutedCash Dividends¥

219.20219.19
85.00

2022

¥

209.27209.2680.00

U.S. dollars (Note 1)
2023

$

1.64
1.64
0.64

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 47).

Consolidated Statement of Comprehensive Income
Millions of yen
2023

For the Fiscal Years ended March 31,

ProfitOther Comprehensive Income (Loss) (Note 37):
Net Unrealized Gains (Losses) on Other Securities
Deferred Gains or Losses on Hedges
Foreign Currency Translation Adjustments
Remeasurements of Defined Benefit Plans
Own Credit Risk Adjustments, Net of Tax
Share of Other Comprehensive Income of Associates
Accounted for Using Equity Method
Comprehensive Income
Comprehensive Income Attributable to Owners of Parent:¥¥¥

Comprehensive Income Attributable to Non-controlling Interests:
See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements.

－ 9 －Per Share of Common Stock、Consolidated Statement of Comprehensive Income

560,130(282,463)(157,244)(281,515)
127,170
13,29842
15,783
277,666
273,298
4,368

¥

¥
¥

2022

543,183(496,061)(411,077)(108,186)
130,612(115,038)
(23)
7,650
47,121
33,676
13,444

Thousands of
U.S. dollars (Note 1)
2023

$

$
$

4,194,475(2,115,197)(1,177,507)(2,108,095)
952,306
99,587322
118,1902,079,278
2,046,568
32,7102023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Consolidated Statement of Changes in Net Assets
Millions of yen
Shareholders' Equity

For the Fiscal Year ended
March 31, 2023

Balance as of the beginningof the period

CommonCapitalRetained

Treasury

Stock

Surplus

Earnings

Stock¥ 2,256,767 ¥ 1,125,324¥ 4,756,435¥ (8,342)

Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies―

2,256,767

Changes during the period
Cash Dividends
Profit Attributable to Ownersof Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury Sharesof Parent Arising fromTransactions with Noncontrolling Shareholders
Decrease in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital Surplus
Net Changes in Items otherthan Shareholders' Equity
Total Changes during theperiodBalance as of the end of theperiod1,125,324

4,756,435

Total
Shareholders'Equity¥ 8,130,185―(8,342)8,130,185(209,432)(209,432)

555,527555,527(2,314)(2,314)

1,870

1,615

(255)
2,834

2,834

4,064

4,064

(11,319)(11,319)

134

(134)

―

3,943

337,475(443)

340,975¥ 2,256,767 ¥ 1,129,267¥ 5,093,911¥ (8,786)¥ 8,471,160―

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 10 －

Consolidated Statement of Changes in Net Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Statement of Changes in Net Assets—(Continued)
Millions of yen
Accumulated Other Comprehensive Income
Net
Unrealized

Deferred
Gains or

Gains

Losses on

March 31, 2023

(Losses) on
Other
Securities

Balance as of the beginningof the period¥ 719,822¥ (76,757)

For the Fiscal Year ended

Hedges

Revaluation
Reserve forLand¥ 132,156

Foreign
Currency
Translation

Remeasurements ofDefined Adjustments,

Adjustments Benefit Plans¥ 2,346

Own Credit
Risk¥ 169,652

Other

Net of Tax

Comprehensive
Income¥ (23)¥ 947,197

Cumulative Effects of
Changes in
Accounting Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

Total
Stock
NonAccumulated Acquisition Controlling
Rights¥Interests

94 ¥123,555 ¥ 9,201,031―

719,822(76,757)

132,156

2,346

169,652

(23)

Total
Net Assets―

947,19794

123,555

9,201,031

Changes during the period
Cash Dividends
Profit Attributable to Ownersof Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury Sharesof Parent Arising fromTransactions with Noncontrolling Shareholders
Decrease in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital
Surplus
Net Changes in Items otherthan Shareholders' Equity(155,326)(281,345)(2,834)

141,746

12,65442(285,063)(88)(48,392)(333,544)

Total Changes during theperiod(155,326)(281,345)(2,834)

141,746

12,65442(285,063)(88)(48,392)

7,431

Balance as of the end of theperiod¥ 564,495 ¥ (358,102)¥ 129,321¥ 144,093¥ 182,306

19¥ 662,133(209,432)
555,527(2,314)
1,615
2,834

4,064

(11,319)―¥

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 11 －

Consolidated Statement of Changes in Net Assets¥

5¥ 75,163 ¥ 9,208,463

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Consolidated Statement of Changes in Net Assets—(Continued)
Millions of yen
Shareholders' Equity

For the Fiscal Year ended
March 31, 2022

Balance as of the beginningof the period

CommonCapitalRetained

Treasury

Stock

Surplus

Earnings

Stock¥ 2,256,767 ¥ 1,135,940¥ 4,421,655¥ (7,124)

Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies(724)

2,256,767

Changes during the period
Cash Dividends
Profit Attributable to Ownersof Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury Sharesof Parent Arising fromTransactions with Noncontrolling Shareholders
Decrease in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital Surplus
Net Changes in Items otherthan Shareholders' Equity
Total Changes during theperiodBalance as of the end of theperiod1,135,940

4,420,931

Total
Shareholders'Equity¥ 7,807,239(724)(7,124)

7,806,515(196,746)(196,746)

530,479

530,479(2,869)(2,869)

1,651

1,597

(54)
4,227

4,227

(10,616)(10,616)(2,402)(2,402)

54

(54)

―

(10,616)

335,503(1,217)

323,669¥ 2,256,767 ¥ 1,125,324¥ 4,756,435¥ (8,342)¥ 8,130,185―

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 12 －

Consolidated Statement of Changes in Net Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Statement of Changes in Net Assets—(Continued)
Millions of yen
Accumulated Other Comprehensive Income
Net
Unrealized
Gains(Losses) on
For the Fiscal Year ended
March 31, 2022

Balance as of the beginningof the period

Other

Deferred
Gains or
Losses on
HedgesSecurities¥ 1,132,460

Foreign

Revaluation
Reserve for

Remeasure-

Own Credit

Currency
ments of
Risk
Other
Translation
Defined Adjustments,
Land
Comprehensive
Adjustments Benefit Plans
Net of Tax
Income¥ 31,618 ¥ 136,384 ¥ (139,514) ¥ 288,088―

Cumulative Effects of
Changes in
Accounting Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

1,132,460

31,618Total
Stock
NonAccumulated Acquisition Controlling

136,384(139,514)

288,088―

RightsInterests

Total
Net Assets¥ 1,449,035¥ 134 ¥ 105,797 ¥ 9,362,207

―

(724)

1,449,035

134

105,797

9,361,483

Changes during the period
Cash Dividends
Profit Attributable to Ownersof Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury Sharesof Parent Arising fromTransactions with Noncontrolling Shareholders
Decrease in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital
Surplus
Net Changes in Items otherthan Shareholders' Equity(412,638)(108,375)(4,227)

141,861(118,435)(23)(501,838)(40)

17,757(484,121)

Total Changes during theperiod(412,638)(108,375)(4,227)

141,861(118,435)(23)(501,838)(40)

17,757(160,451)

Balance as of the end of theperiod¥ 719,822(23)¥ 947,197(196,746)
530,479(2,869)
1,597
4,227

(10,616)(2,402)―¥ (76,757) ¥ 132,156¥

2,346 ¥ 169,652¥

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 13 －

Consolidated Statement of Changes in Net Assets¥

94 ¥ 123,555 ¥ 9,201,031

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Consolidated Statement of Changes in Net Assets—(Continued)
Thousands of U.S. dollars (Note 1)
Shareholders' Equity

For the Fiscal Year ended
March 31, 2023

Balance as of the beginningof the period

CommonCapitalRetained

Treasury

Stock

Surplus

Earnings

Stock$ 16,899,562―

16,899,562

Changes during the period
Cash Dividends
Profit Attributable to Ownersof Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury Sharesof Parent Arising fromTransactions with Noncontrolling Shareholders
Decrease in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital Surplus
Net Changes in Items otherthan Shareholders' Equity
Total Changes during theperiodBalance as of the end of theperiod8,426,873

35,618,057―(62,470)(1,568,311)

4,160,007

4,160,007(17,332)(17,332)

14,00812,097

21,22821,22830,434$ 16,899,562

60,882,022(1,568,311)(1,911)―Equity$ 8,426,873 $ 35,618,057 $ (62,470) $ 60,882,022

Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

Total
Shareholders'

30,434(84,765)(84,765)

1,006(1,006)―29,5292,527,153(3,324)2,553,358$ 8,456,402 $ 38,145,210 $ (65,794) $ 63,435,380

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 14 －

Consolidated Statement of Changes in Net Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Statement of Changes in Net Assets—(Continued)
Thousands of U.S. dollars (Note 1)
Accumulated Other Comprehensive Income
Net
Unrealized
Gains

Deferred
Gains or
Losses on

March 31, 2023

(Losses) on
Other
Securities

Balance as of the beginningof the period$ 5,390,311 $ (574,790)

For the Fiscal Year ended

Hedges

Revaluation
Reserve forLand$ 989,640

Foreign
Currency
Translation
Adjustments

Remeasurements ofDefinedBenefitPlans$ 17,574 $ 1,270,424

Own Credit
Risk
Adjustments,

Other

Net of Tax

Comprehensive
Income$ (175)$ 7,092,984

Cumulative Effects of
Changes in
Accounting Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

Total
Stock
Accumulated Acquisition

NonControlling

RightsInterests$ 704$ 925,233―

5,390,311(574,790)

989,640

17,574

1,270,424

(175)

Total
Net Assets$ 68,900,943―

7,092,984

704

925,233

68,900,943

Changes during the period
Cash Dividends
Profit Attributable to
Owners of Parent
Repurchase of Treasury
Stock
Disposition of Treasury
Stock
Transfer from Revaluation
Reserve for Land
Change in Treasury
Shares of Parent Arisingfrom Transactions with
Non- controlling
Shareholders
Decrease in Retained
Earnings by Decreasingof Equity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital
Surplus
Net Changes in Items
other than Shareholders'Equity(1,163,149) (2,106,823)(21,227)

1,061,452

94,758322(2,134,667)(663)(362,379)(2,497,709)

Total Changes during theperiod

(1,163,149) (2,106,823)(21,227)

1,061,452

94,758322(2,134,667)(663)(362,379)

55,649Balance as of the end of theperiod$ 4,227,162 $(2,681,613)$ 968,413 $ 1,079,026 $ 1,365,182$ 147$ 4,958,317$$ 562,854$ 68,956,592(1,568,311)
4,160,007(17,332)
12,097
21,22830,434(84,765)―

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements (Note 38).

－ 15 －

Consolidated Statement of Changes in Net Assets

41

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Consolidated Statement of Cash Flows
Millions of yen
2023

For the Fiscal Years ended March 31,

Cash Flow from Operating Activities
Income before Income Taxes
Depreciation
Losses on Impairment of Fixed Assets
Amortization of Goodwill
Equity in Loss (Gain) from Investments in Affiliates
Increase (Decrease) in Reserves for Possible Losses on Loans
Increase (Decrease) in Reserve for Possible Losses on
Investments
Increase (Decrease) in Reserve for Possible Losses on Sales of
Loans
Increase (Decrease) in Reserve for Contingencies
Increase (Decrease) in Reserve for Bonus Payments
Increase (Decrease) in Reserve for Variable Compensation
Decrease (Increase) in Net Defined Benefit Asset
Increase (Decrease) in Net Defined Benefit Liability
Increase (Decrease) in Reserve for Director and Corporate
Auditor Retirement Benefits
Increase (Decrease) in Reserve for Reimbursement of Deposits
Increase (Decrease) in Reserve for Reimbursement ofDebentures
Interest Income—accrual basis
Interest Expenses—accrual basis
Losses (Gains) on Securities
Losses (Gains) on Money Held in Trust
Foreign Exchange Losses (Gains)—net
Losses (Gains) on Disposition of Fixed Assets
Losses (Gains) on Cancellation of Employee Retirement Benefit
Trust
Decrease (Increase) in Trading Assets
Increase (Decrease) in Trading Liabilities
Decrease (Increase) in Derivatives other than for Trading Assets
Increase (Decrease) in Derivatives other than for Trading
Liabilities
Decrease (Increase) in Loans and Bills Discounted
Increase (Decrease) in Deposits
Increase (Decrease) in Borrowed Money (excluding
Subordinated Borrowed Money)
Decrease (Increase) in Due from Banks (excluding Due fromCentral Banks)
Decrease (Increase) in Call Loans, etc.
Decrease (Increase) in Guarantee Deposits Paid under
Securities Borrowing Transactions
Increase (Decrease) in Call Money, etc.
Increase (Decrease) in Commercial Paper
Increase (Decrease) in Guarantee Deposits Received under
Securities Lending Transactions
Decrease (Increase) in Foreign Exchange Assets
Increase (Decrease) in Foreign Exchange Liabilities
Increase (Decrease) in Short-term Bonds (Liabilities)
Increase (Decrease) in Bonds and Notes－ 16 －

Consolidated Statement of Cash Flows¥¥

778,964 ¥
163,166
51,545
3,771(11,889)(71,488)2022

Thousands of
U.S. dollars (Note 1)
2023

603,872
161,897
27,585
3,741(25,434)
194,340$

5,833,193
1,221,854
385,99328,244(89,032)(535,337)

(106)

106

(795)

13,740
6,115
1,746
102
69,067(4,506)234(202)
11,954(656)
56,392
6,169

102,894
45,797
13,082771
517,206(33,748)(17)(3,924)(126)(4,479)(134)(29,391)(2,706)(3,178,214)
2,217,636
50,63322(662,938)
4,202(3,915)(1,309,009)
315,550
62,30585(928,800)
2,647(20,265)(23,799,723)
16,606,530
379,166
167(4,964,342)
31,468(47,627)(3,869,757)
2,855,475
118,439(74,254)(201,023)
1,234,368(528,425)(356,656)(28,978,262)
21,382,920
886,920(46,028)(2,092,530)
6,605,411

996,914
1,343,307
2,594,805(344,677)(15,669,694)
49,463,914(2,436,997)(869,766)(18,249,192)(44,557)
1,029,697(125,565)(928,392)(333,661)
7,710,779

442,660
4,808,324(155,216)

367,621(133,057)(551,464)

3,314,815
36,006,624(1,162,326)(414,405)
357,779(837,977)(60,026)
887,829 ¥214,099(398,661)
973,697
81,121
607,064(3,103,231)
2,679,196(6,275,103)(449,499)
6,648,417$

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Consolidated Statement of Cash Flows—(Continued)

Millions of yen
2023

For the Fiscal Years ended March 31,

Increase (Decrease) in Due to Trust Accounts
Interest and Dividend Income—cash basis
Interest Expenses—cash basis
Other—net
Subtotal
Cash Refunded (Paid) in Income Taxes
Net Cash Provided by (Used in) Operating Activities
Cash Flow from Investing Activities
Payments for Purchase of Securities
Proceeds from Sale of Securities
Proceeds from Redemption of Securities
Payments for Increase in Money Held in Trust
Proceeds from Decrease in Money Held in Trust
Payments for Purchase of Tangible Fixed Assets
Payments for Purchase of Intangible Fixed Assets
Proceeds from Sale of Tangible Fixed Assets
Proceeds from Sale of Intangible Fixed Assets
Payments for Purchase of Stocks of Subsidiaries (affecting thescope of consolidation)
Net Cash Provided by (Used in) Investing Activities
Cash Flow from Financing Activities
Proceeds from Subordinated Borrowed Money
Repayments of Subordinated Borrowed Money
Proceeds from Issuance of Subordinated Bonds
Payments for Redemption of Subordinated Bonds
Proceeds from Investments by Non-controlling Shareholders
Repayments to Non-controlling Shareholders
Cash Dividends Paid
Cash Dividends Paid to Non-controlling Shareholders
Payments for Purchase of Stocks of Subsidiaries (not affecting
the scope of consolidation)
Payments for Repurchase of Treasury Stock
Proceeds from Sale of Treasury Stock
Payments for Repurchase of Treasury Stock of Subsidiaries
Net Cash Provided by (Used in) Financing Activities
Effect of Foreign Exchange Rate Changes on Cash and Cash
Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at the beginning of the fiscal year
Cash and Cash Equivalents at the end of the fiscal year (Note
39)

¥

¥

366,812 ¥3,027,958(2,028,391)
1,108,820
9,000,617(133,371)
8,867,246

Consolidated Statement of Cash Flows$

2,746,839
22,674,546(15,189,391)
8,303,283
67,400,159(998,734)
66,401,425(80,978,246)
44,652,769
43,032,475(3,843)79,409(64,845)(118,331)
9,813―(102,478,445)
57,161,461
43,586,621(31,898)
22,312(42,297)(96,964)
18,239480(606,396,931)
334,377,486
322,244,091(28,782)594,647(485,591)(886,109)
73,484―(3,533)
6,605,667―(1,860,490)(26,463)
49,465,832

20,000(35,000)
208,500(544,615)
2,219
(324)
(209,457)(10,459)

10,000(4,000)171,410(494,000)
565(502)(196,783)(7,693)

149,768(262,094)
1,561,330(4,078,291)
16,623(2,432)(1,568,498)(78,323)(41,307)(2,314)
1,615―(611,143)―(1,927)873(0)(522,056)(309,330)(17,331)
12,097―(4,576,481)

827,611
15,689,381
50,136,299

620,261
3,154,900
46,981,399

6,197,480
117,488,256
375,440,317

65,825,681 ¥

50,136,299

See accompanying “Notes to Consolidated Financial Statements,” which are an integral part of these statements.

－ 17 －

2022

6,676
1,424,865(273,855)
147,257
5,081,594(164,408)
4,917,186

Thousands of
U.S. dollars (Note 1)
2023$

492,928,573

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

1. Basis for Presentation
The accompanying consolidated financial statements have been prepared from the accounts maintained by Mizuho Financial
Group, Inc. (“MHFG”) and its consolidated subsidiaries in accordance with the provisions set forth in the Company Law ofJapan and the Financial Instruments and Exchange Law, and in conformity with accounting principles generally accepted inJapan (“Japanese GAAP”) which are different in certain respects from the application and disclosure requirements ofInternational Financial Reporting Standards.
Certain items presented in the consolidated financial statements which were previously filed with the Director General of
the Kanto Local Finance Bureau are reclassified for the convenience of readers outside Japan. The notes to theconsolidated financial statements include information which is not required under Japanese GAAP but is presented herein as
additional information.
The amounts indicated in millions of yen are rounded down by truncating the figures below one million. Totals may not add
up exactly because of such truncation. Amounts in U.S. dollars are included solely for the convenience of readers outside
Japan. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023 has been used for translation. The
inclusion of such amounts is not intended to imply that Japanese yen has been or could be readily converted, realized or
settled into U.S. dollars at that rate or any other rate.

2. Scope of Consolidation(a) The consolidated financial statements include the accounts of MHFG and its consolidated subsidiaries (collectively, “theGroup”), including Mizuho Bank, Ltd. (“MHBK”), Mizuho Trust & Banking Co., Ltd. (“MHTB”), Mizuho Securities Co., Ltd.
(“MHSC”) and certain other subsidiaries. The numbers of consolidated subsidiaries as of March 31, 2023 and 2022 were
178 and 163, respectively.
During the period, Capstone Partners GP, LLC and 47 other companies were newly included in the scope of
consolidation as a result of a business acquisition and other factors.
During the period, Mizuho Trust Guaranty Company Limited and 32 other companies were excluded from the scope of
consolidation as a result of merger and other factors.
(b) There were no non-consolidated subsidiaries as of March 31, 2023 and 2022.

3. Application of the Equity Method(a) There were no non-consolidated subsidiaries under the equity method as of March 31, 2023 and 2022.
(b) The numbers of affiliates under the equity method as of March 31, 2023 and 2022 were 25 and 24, respectively.
Investments in affiliates include Custody Bank of Japan, Ltd., Orient Corporation, Mizuho Leasing Company, Limited andcertain other affiliates.
During the period, Rakuten Securities, Inc. and another company were newly included in the scope of the equity
method as a result of increasing the shares.
During the period, The Chiba Kogyo Bank, Ltd. was excluded from the scope of the equity method as a result of
decreasing the shares.
(c) There were no non-consolidated subsidiaries not under the equity method as of March 31, 2023 and 2022.
(d) Pec International Leasing Co., Ltd., an affiliate not under the equity method, is not accounted for under the equity
method, as it is not significant to the consolidated financial statements of MHFG.

4. Balance Sheet Dates of Consolidated Subsidiaries(a) Balance sheet dates of consolidated subsidiaries for the fiscal year ended March 31, 2023 are as follows:
July 31
1 companies
December 31
45 companies
March 31132 companies(b) The consolidated subsidiary with the balance sheet date of July 31 was consolidated based on its provisional closing
information as of and for the period ended the consolidated fiscal year end. Other consolidated subsidiaries wereconsolidated based on their financial statements as of and for the period ended their respective balance sheet dates.
The necessary adjustments have been made to the financial statements for any significant transactions that took place
between their respective balance sheet dates and the date of the consolidated financial statements.

－ 18 －

Basis for Presentation、Scope of Consolidation、Application of the Equity Method、Balance Sheet Dates of Consolidated Subsidiaries

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

5. Standards of Accounting Method(1) Credited Loans pursuant to Trading Securities and Trading Income & Expenses
Credited loans held for the purpose of trading are, in line with trading securities, recognized on a trade date basis andrecorded in Other Debt Purchased on the consolidated balance sheet. Other Debt Purchased related to the relevant
credited loans is stated at fair value at the consolidated balance sheet date.
Interest received and the gains or losses on the sale of the relevant credited loans during the fiscal year, including thegains or losses resulting from any change in the value between the beginning and the end of the fiscal year, arerecognized in Other Operating Income and Other Operating Expenses on the consolidated statement of income.

(2)Trading Assets & Liabilities and Trading Income & Expenses
Trading transactions intended to take advantage of short-term fluctuations and arbitrage opportunities in interest rates,
currency exchange rates, market prices of securities and related indices are recognized on a trade-date basis andrecorded in Trading Assets or Trading Liabilities on the consolidated balance sheet. Income or expenses generated on
the relevant trading transactions are recorded in Trading Income or Trading Expenses on the consolidated statement ofincome.
Securities and other monetary claims held for trading purposes are stated at fair value at the consolidated balance
sheet date. Derivative financial products, such as swaps, futures and option transactions, are stated at their fair values,
assuming that such transactions are terminated and settled at the consolidated balance sheet date.
Trading Income and Trading Expenses include the interest received and the interest paid during the fiscal year, thegains or losses resulting from any change in the value of securities and other monetary claims between the beginningand the end of the fiscal year, and the gains or losses resulting from any change in the value of financial derivatives
between the beginning and the end of the fiscal year, assuming they were settled at the end of the fiscal year.
For financial derivatives, fair value is calculated on the basis of net assets or liabilities after offsetting financial assets
and liabilities with respect to specific market risks and specific credit risk.

(3) Securities
In accordance with “Accounting Standard for Financial Instruments” (the Business Accounting Deliberation Council,
January 22, 1999), MHFG classifies securities, excluding those of investments in non-consolidated subsidiaries andaffiliates, into three categories based upon management's intent. These securities are accounted for as follows:(i) Trading securities are carried at market value and included in Trading Assets.
(ii) Bonds held to maturity are stated at amortized cost (straight-line method) and determined by the moving averagemethod.
(iii) Other securities are securities which are not classified as either trading securities or bonds held to maturity. Other
securities are stated at market price (cost of securities sold is calculated primarily by the moving average method).
Stocks and others without a quoted market price are stated at acquisition cost and determined by the moving averagemethod. The net unrealized gains (losses) on Other securities are included directly in Net Assets, net of applicable
income taxes after excluding gains and losses as a result of the fair-value hedge method.
In addition, investments in affiliates not under the equity method are stated at acquisition cost as determined by themoving average method.

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Securities which are held as trust assets in Money Held in Trust accounts are valued in the same way as Securities
above.
Certain Securities other than Trading Securities (excluding Stocks and others without a quoted market price andInvestments in Partnerships) are devalued to the fair value, and the difference between the acquisition cost and the fairvalue is treated as a loss for the fiscal year (“impairment (devaluation)”), if the fair value (primarily the closing market
price at the consolidated balance sheet date) 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 amounts of
impairment (devaluation) were ¥1,256 million ($9,410 thousand) and ¥5,757 million for the fiscal years ended March 31,
2023 and 2022, respectively.
The criteria for determining whether a security's fair value has “significantly deteriorated” are outlined as follows:• Security whose fair value is 50% or less of the acquisition cost
• Security whose fair value exceeds 50% but is 70% or less of the acquisition cost and the quoted market pricemaintains a certain level or lower(4) Bills Discounted
In accordance with “Accounting and Auditing Treatment relating to Adoption of Accounting Standards for Financial
Instruments for Banks” (The Japanese Institute of Certified Public Accountants (“JICPA”) Industry Committee Practical
Guideline No. 24), bills discounted are accounted for as financing transactions. The banking subsidiaries have rights tosell or pledge these commercial bills, foreign exchange bills purchased and others. The face value of these bills
amounted to ¥1,449,540 million ($10,854,730 thousand) and ¥1,806,813 million as of March 31, 2023 and 2022,
respectively.

(5) Derivative Transactions
Derivative transactions are valued at fair value with changes in fair value included in current income. Fair value iscalculated on the basis of net assets or liabilities after offsetting financial assets and liabilities with respect to specificmarket risks and specific credit risk. Derivatives qualifying as hedges are mainly accounted for using either the fair-value
hedge method or the deferred method of hedge accounting (see (23) Hedge Accounting).

(6) Tangible Fixed Assets (Except for Lease Assets)
Depreciation of buildings is computed mainly by the straight-line method, and that of others is computed mainly by the
declining-balance method. The range of useful lives is as follows:
Buildings 3 years to 50 years
Others 2 years to 20 years(7) Intangible Fixed Assets (Except for Lease Assets)
Amortization of Intangible Fixed Assets is computed by the straight-line method. Development costs for internally-usedsoftware are capitalized and amortized over their estimated useful lives of mainly from five to ten years as determined by
MHFG and its consolidated subsidiaries.

(8) Lease Assets
Depreciation of lease assets booked in Tangible Fixed Assets and Intangible Fixed Assets which are concerned withfinance lease transactions that do not transfer ownership is mainly computed by the same method as the one applied to
fixed assets owned by us.

(9) Deferred Assets
Bond issuance costs are expensed as incurred.

－ 20 －

Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(10) Reserves for Possible Losses on Loans
Reserves for Possible Losses on Loans of major domestic consolidated subsidiaries are maintained in accordance withinternally established standards for write-offs and reserve provisions:• For claims extended to obligors that are legally bankrupt under the Bankruptcy Law, Special Liquidation under theCompany Law or other similar laws (“Bankrupt Obligors”), and to obligors that are effectively in similar conditions(“Substantially Bankrupt Obligors”), reserves are maintained at the amounts of claims net of direct write-offs described
below and the expected amounts recoverable from the disposition of collateral and the amounts recoverable underguarantees.
• For claims extended to obligors that are not yet legally or formally bankrupt but are likely to be bankrupt (“Intensive
Control Obligors”), reserves are maintained at the amounts deemed necessary based on overall solvency analyses of
the amounts of claims net of expected amounts recoverable from the disposition of collateral and the amounts
recoverable under guarantees.
• For claims extended to Intensive Control Obligors and Obligors with Restructured Loans (defined in Note 12 below) andothers, if the exposure to an obligor exceeds a certain specific amount, reserves are provided as follows:(i) if future cash flows of the principal and interest can be reasonably estimated, the discounted cash flow method isapplied, under which the reserve is determined as the difference between the book value of the loan and its present
value of future cash flows discounted using the contractual interest rate before the loan was classified as a
Restructured Loan, and(ii) if future cash flows of the principal and interest cannot be reasonably estimated, reserves are provided for the losses
estimated for each individual loan.
• For claims extended to other obligors, reserves for the next one year or three years are maintained at rates derived from
historical credit loss experience or historical bankruptcy experience for one or three years and making necessary
adjustments such as future prospects and others.
• Reserve for Possible Losses on Loans to Restructuring Countries is maintained in order to cover possible losses basedon analyses of the political and economic climates of the countries. All claims are assessed by each claim origination
department in accordance with the internally established “Self-assessment Standard,” and the results of theassessments are verified and examined by the independent examination departments.
In the case of claims to Bankrupt Obligors and Substantially Bankrupt Obligors, which are collateralized or guaranteed
by a third party, the amounts deemed uncollectible (calculated by deducting the anticipated proceeds from the sale ofcollateral pledged against the claims and amounts that are expected to be recovered from guarantors of the claims) are
written off against the respective claim balances. The total directly written-off amounts were ¥87,534 million ($655,490
thousand) and ¥109,122 million as of March 31, 2023 and 2022, respectively.
Other consolidated subsidiaries provide the amount necessary to cover the loan losses based upon past experience andother factors for general claims and the assessment for each individual loan for other claims.
(Additional Information)
Expected losses include losses expected to be incurred in the future due to difficulties in foreign currency cash
management influenced by economic sanctions against Russia. Claims where transfer risk exists 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 defaults which are announced byexternal rating firms in the past and others. The amount of Reserve for Possible Losses on Loans to Restructuring
Countries for the fiscal year ended March 31, 2023 was ¥43,937 million ($329,018 thousand), which included ¥42,418
million ($317,643 thousand) against the claims related to Russia.

(11) Reserve for Possible Losses on Investments
Reserve for Possible Losses on Investments is maintained to provide against possible losses on investments insecurities, after taking into consideration the financial condition and other factors concerning the investee company.

(12) Reserve for Bonus Payments
Reserve for Bonus Payments, which is provided for future bonus payments to employees, is maintained at the amountaccrued at the end of the fiscal year, based on the estimated future payments.

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Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(13) Reserve for Variable Compensation
Reserve for Variable Compensation, which is prepared for the payments of performance payments and stockcompensation to be paid as variable compensation within compensation for directors, group executive officers andoperating officers of MHFG, MHBK, MHTB, MHSC, and certain consolidated subsidiaries, is maintained to provide
estimated payments based on the standard amount regarding variable compensation of this fiscal year.

(14) Reserve for Director and Corporate Auditor Retirement Benefits
Reserve for Director and Corporate Auditor Retirement Benefits, which is provided for future retirement benefit payments
to directors, corporate auditors, and executive officers, is recognized at the amount accrued by the end of the fiscal year,
based on the internally established standards.

(15) Reserve for Possible Losses on Sales of Loans
Reserve for Possible Losses on Sales of Loans is provided for possible future losses on sales of loans at the amountdeemed necessary based on a reasonable estimate of possible future losses.

(16) Reserve for Contingencies
Reserve for Contingencies is maintained to provide against possible losses from contingencies which are not covered byother specific reserves. The balance is an estimate of possible future losses considered to require a reserve.

(17) Reserve for Reimbursement of Deposits
Reserve for Reimbursement of Deposits is provided against the losses for the deposits derecognized from liabilities at theestimated amount of future claims for withdrawal by depositors.

(18) Reserve for Reimbursement of Debentures
Reserve for Reimbursement of Debentures is provided for the debentures derecognized from liabilities at the estimatedamount for future claims.

(19) Reserve under Special Laws
Reserve under Special Laws is Reserve for Contingent Liabilities from Financial Instruments and Exchange of ¥3,352
million ($25,106 thousand) and ¥3,132 million as of March 31, 2023 and 2022, respectively. This is the reserve pursuant
to Article 46-5 of the Financial Instruments and Exchange Law and Article 175 of the Cabinet Office Ordinance regarding
Financial Instruments Business, etc. to indemnify the losses incurred from accidents in the purchase and sale ofsecurities, other transactions or derivative transactions.

(20) Accounting Method for Retirement Benefits
In calculating retirement benefit obligations, a benefit formula basis is used as a method of attributing expected retirement
benefits to the period up to the end of this fiscal year. Unrecognized prior service cost and unrecognized actuarial
differences are recognized as follows:
Unrecognized prior service cost: Recognized mainly as income or expenses in the period of occurrence.
Unrecognized actuarial difference: Recognized as income or expenses from the following fiscal year under thestraight-line method over a certain term within the average remaining service
period of the employees (mainly 10 years) of the respective fiscal years.
Certain consolidated subsidiaries apply the simplified method that assumes the amount required for voluntary resignation
at the end of the term to be retirement benefit obligations in computing net defined benefit liability and retirement benefit
expenses.

－ 22 －

Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(21) Assets and Liabilities Denominated in Foreign Currencies
Assets and liabilities denominated in foreign currencies and accounts of overseas branches of domestic consolidatedbanking subsidiaries and a domestic consolidated trust banking subsidiary are translated into Japanese yen primarily atthe exchange rates in effect at the consolidated balance sheet date, with the exception of the investments in affiliates notunder the equity method, which are translated at historical exchange rates.
Assets and liabilities denominated in foreign currencies of the consolidated subsidiaries, except for the transactions
mentioned above, are translated into Japanese yen primarily at the exchange rates in effect at the respective balance
sheet dates.

(22) Revenues
Securities-related business fees mainly consist of brokerage fees and commissions, and asset-based revenues.
Brokerage fees and commissions include fees earned from the execution of customer transactions and salescommissions of stocks, bonds and investment trusts, which are recognized at the point in time on transaction date withthe customer. Asset-based revenues include fees received from investment trust management companies in return foradministration services, such as record keeping services, of investment trusts, which are recognized over time in the
period when the related service is provided.
Deposits and Lending business fees consist of Deposit-related fees and Lending-related fees. Deposit related fees arewithin the scope of “Accounting Standard for Revenue Recognition”, while most of Lending-related fees such ascommitment fees and arrangement fees are not. Deposit-related fees include account transfer fees, which are recognizedat the point in time on transaction date with the customer or at the point in time when the related service is provided.
Remittance business fees include service charges for domestic and international funds transfers and collections, which
are recognized at the point in time when the related service is provided.
Trust-related business fees mainly consist of brokerage commissions of real estate property, consulting fees of realestate property and charged of stock transfer agent services. Brokerage commissions of real estate property arecommissions that are received as consideration for services related to real estate brokerage, and are recognized inprinciple at the time of the conclusion of a sales contract for the subject real estate or trust beneficiary rights. Consulting
fees of real estate property are commissions that are received as consideration for services related to real estate
consulting, which are recognized at the point in time when the related service is provided or over time in the period when
the related service is provided. Stock transfer agent service fees are commissions that are received as consideration forservices related to transfer agent business and associated services, which are recognized at the point in time when therelated service is provided or over time in the period when the related service is provided.
Agency business fees mainly consist of administration service fees related to MHFG Group’s agency business such as
Japan’s principal public lottery program and revenues from standing proxy services related to stocks and others, which
are recognized at the point in time when the related service is provided or over time in the period when the related
service is provided.
Fees for other customer services include various revenues such as sales commissions of life insurance, service
charges for electronic banking, financial advisory fees, and service charges for software development. Sales
commissions of life insurance are received in return for selling insurance products and recognized mainly at the point intime on transaction date with the customer. Service charges for electronic banking are mainly monthly basic usage feesand recognized over time in the period when the related service is provided. Financial advisory fees are received asconsideration for services supporting market research and business strategy planning, which are recognized over time in
the period when the related service is provided. Service charges for software development are recognized mainly overtime in the period when the related service is provided.
Fiduciary income mainly consists of trust fees earned through fiduciary asset management and administrative service,
which are recognized at the point on creation of the trust or completion date specified in the contract, or over time in the
period when the related service is provided.
Part of other ordinary income include underwriting fees from trading securities, credit card interchange fees and asset
management business fees which are within the scope of “Accounting Standard for Revenue Recognition”. Underwriting
fees are recognized at the point on the date which all the consideration of the transaction are fixed. Credit card
interchange fees are recognized at the point on the settlement of the credit card payment transactions. Assetmanagement business fees consist of investment trust management fees and investment advisory fees for investment
trusts, which are recognized over time in the period when the related service is provided.

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Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(23) Hedge Accounting(a) Interest Rate Risk
The deferred method, the fair-value hedge method or the exceptional accrual method for interest rate swaps areapplied as hedge accounting methods.
The portfolio hedge transaction for a large volume of small-value monetary claims and liabilities of domestic
consolidated banking subsidiaries and domestic consolidated trust banking subsidiaries is accounted for by themethod stipulated in the JICPA Industry Committee Practical Guideline No.24, March 17, 2022.
The effectiveness of hedging activities for the portfolio hedge transaction for a large volume of small-valuemonetary claims and liabilities is assessed as follows:(i) as for hedging activities to offset market fluctuation risks, the effectiveness is assessed by bracketing both thehedged instruments, such as deposits and loans, and the hedging instruments, such as interest-rate swaps, in thesame maturity bucket.
(ii) as for hedging activities to fix the cash flows, the effectiveness is assessed based on the correlation between abase interest rate index of the hedged instrument and that of the hedging instrument.
The effectiveness of the individual hedge is assessed based on the comparison of the fluctuation in the market or of
cash flows of the hedged instruments with that of the hedging instruments.
(b) Foreign Exchange Risk
Domestic consolidated banking subsidiaries and domestic consolidated trust banking subsidiaries apply the deferred
method of hedge accounting to hedge foreign exchange risks associated with various financial assets and liabilities
denominated in foreign currencies as stipulated in the “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). The effectiveness of the hedge is assessed by confirming that the amount of the foreign
currency position of the hedged monetary claims and liabilities is equal to or larger than that of currency swap
transactions, exchange swap transactions, and similar transactions designated as the hedging instruments of theforeign exchange risk.
In addition to the above methods, these subsidiaries apply the deferred method or the fair-value hedge method toportfolio hedges of the foreign exchange risks associated with investments in subsidiaries and affiliates denominatedin foreign currency and Other securities denominated in foreign currency (except for bonds) identified as hedged
items in advance, as long as the amount of foreign currency payables of spot and forward foreign exchange contracts
exceeds the amount of acquisition cost of the hedged foreign securities denominated in foreign currency.
(c) Inter-company Transactions
Inter-company interest rate swaps, currency swaps and similar derivatives among consolidated companies or
between trading accounts and other accounts, which are designated as hedges, are not eliminated and related gains
and losses are recognized in the statement of income or deferred under hedge accounting, because these intercompany derivatives are executed according to the criteria for appropriate outside third-party cover operations which
are treated as hedge transactions objectively in accordance with JICPA Industry Committee Practical Guideline No.24
and 25.
As for certain assets and liabilities of MHFG and its consolidated subsidiaries, the deferred method, the fair-value
hedge method or the exceptional accrual method for interest rate swaps are applied.
(d) Hedging relationships which apply “Treatment of Hedge Accounting for Financial Instruments that Reference LIBOR”
Among above (a) to (c), all hedging relationships included in the scope of applying the “Treatment of Hedge
Accounting for Financial Instruments that Reference LIBOR” (Accounting Standards Board of Japan (“ASBJ”)
Practical Solutions No.40, March 17, 2022) are subject to this exceptional treatment. The detail of the hedging
relationships which apply the treatment are as follows.
Hedging method: the deferred method, the fair-value hedge method or the exceptional accrual method
Hedging instruments: interest-rate swaps, currency-swap transactions or exchange swap transactions, etc
Hedged instruments: financial assets and liabilities, financial assets and liabilities denominated in foreign currencies,etc
The variety of Hedge transactions: to offset market fluctuation risks, to fix the cash flows－ 24 －

Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(24) Amortization Method of Goodwill and Amortization Period
Goodwill is amortized over an appropriate period not to exceed 20 years under the straight-line method. The full amountof Goodwill that has no material impact is expensed as incurred.

(25) Scope of Cash and Cash Equivalents on Consolidated Statement of Cash Flows
In the consolidated statement of cash flows, Cash and Cash Equivalents consist of cash and due from central banks
included in “Cash and Due from Banks” on the consolidated balance sheet.

6. Changes in Accounting Policies(Implementation Guidance on Accounting Standard for Fair Value Measurement)

MHFG has applied “Implementation Guidance on Accounting Standard for Fair Value Measurement”(ASBJ Guidance No.31, June 17, 2021 (referred to as “Fair Value Accounting Standard Implementation Guidance”)) fromthe beginning of the consolidated fiscal year ended March 31, 2023. In accordance with the transitional treatment set out
in Paragraph 27-2 of “Fair Value Accounting Standard Implementation Guidance”, MHFG applies the new accounting
policy set forth in “Fair Value Accounting Standard Implementation Guidance” prospectively. As a result, some Investment
trusts and others are calculated using net asset value, etc., as of the calculation date of the fair value.
In the notes on investment trusts in the matters relating to fair value of financial instruments and breakdown of fair value
by level in the notes on “Financial Instruments”, in accordance with Paragraph 27-3 of “Fair Value Accounting Standard
Implementation Guidance”, the information pertaining to the previous fiscal year is not stated.

－ 25 －

Standards of Accounting Method、Changes in Accounting Policies

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）7. Critical Accounting Estimates
1. Reserves for Possible Losses on Loans(1) Amount on Consolidated Balance Sheet as of March 31, 2023
Reserves for Possible Losses on Loans ¥720,437 million(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
Calculation method is stated on "5. Standards of Accounting Method (10) Reserves for Possible Losses on Loans."
In addition, we have updated the expected loss amount for portfolio with similar characteristics of credit risk, which arehighly likely to incur losses. We judged the possibility to incur losses based on future prospects of external environments
utilizing our credit risk management framework.
(b) Major assumptions
Major assumptions are “earnings estimate of obligors used for internal ratings and discounted cash flows” and “future
prospects of external environments used for updating the estimate of expected loss amount.”“Earnings estimate of obligors used for internal ratings and discounted cash flows” has been determined according to
obligor’s earnings, debt repayment status, industry characteristics, development and progress of business plan andobligor’s earnings capabilities based on the prospect of business environments.
“Future prospects of external environments used for updating the estimate of expected loss amount” is determined basedon macroeconomic scenario, etc.
More specifically, we used the assumptions based on the forecasted GDP growth rate, financial variables including
resource prices, interest rates, exchange rates and others, the future prospect of business environment of each industry,
the impact of decrease in production of semiconductors, the Russia-Ukraine situation, U.S.-China conflict and others in
addition to the inflation and the recovery in inbound demands due to the downgrade of COVID-19. Expected losses effectedby these impacts in the future are recognized as Reserves for Possible Losses on Loans.
(c) Impact on Consolidated Financial Statements for the following consolidated fiscal year
Due to the business trends in Japan and overseas and changes in the economic environment in certain industries, credit
related costs may increase due to new portfolio problems that exceeds expectations, deterioration in the credit condition of
obligors in certain industries, declines in the value of collateral and guarantees, etc.
2. Fair Value of Financial Instruments(1) Amount on Consolidated Balance Sheet as of March 31, 2023
The amount is stated on “41. Financial Instruments 2. Matters relating to fair value of financial instruments and breakdown offair value by level (1) Financial instruments recorded at fair value in the consolidated balance sheet.”(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
Calculation method is stated on "41. Financial Instruments 2. Matters relating to fair value of financial instruments andbreakdown of fair value by level (Note 1) Explanation of valuation techniques and valuation inputs used in fair value
measurements."(b) Major assumption
Major assumptions are the inputs used in the valuation model, and we may use observable inputs such as interest rates,
exchange rates and market value of securities etc. and may also use unobservable inputs including significant estimatessuch as prepayment rate, default rate, recovery rate, discount rate, correlation and volatility, etc.
(c) Impact on Consolidated Financial Statements for the following consolidated fiscal year
Due to changes in the inputs as major assumptions by the change of market environments, the fair value of financial
instruments may increase or decrease.

－ 26 －

Critical Accounting Estimates2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

3. Net Defined Benefit Asset and Net Defined Benefit Liability(1) Amount on Consolidated Balance Sheet as of March 31, 2023
The amount is stated on “25. Reserve for Employee Retirement Benefits.”(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
Mizuho Financial Group, majority-owned consolidated subsidiaries and other consolidated subsidiaries sponsor severance
indemnities and pension plan as defined benefit plan. Net Defined Benefit Asset and Net Defined Benefit Liability is
calculated based on a number of actuarial assumptions including mortality, withdrawals, discount rates, expected long-term
rates of return on plan assets and rates of increase future compensation level.
(b) Major assumption
Major assumptions are actuarial assumptions. Net Defined Benefit Asset and Net Defined Benefit Liability is calculated
based on a number of actuarial assumptions including mortality, withdrawals, discount rates, expected long-term rates ofreturn on plan assets and rates of increase future compensation level.
(c) Impact on Consolidated Financial Statements for the following consolidated fiscal year
Differences in results and actuarial assumptions and changes major assumptions may affect Net Defined Benefit Asset andNet Defined Benefit Liability for the following consolidated fiscal year.

－ 27 －

Critical Accounting Estimates2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）8. 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 theMizuho 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 inperforming 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., andMizuho Securities Co., Ltd. (the “Company Group”) and other entities in accordance with the Rules on Distribution of Shares tobe 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 theperformance 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 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.
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 be occurred in the program.
Upon the payment of stock compensation under the Program, MHFG may, for a certain portion, pay a monetary amountequivalent 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 March 31, 2023 was ¥5,126
million ($38,386 thousand) for 3,231 thousand shares (the carrying amount as of March 31, 2022 was ¥4,949 million for 3,079
thousand shares).

－ 28 －

Additional Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

9. Securities Lending and Borrowing Transactions
Unsecured loaned securities which the borrowers have the right to sell or repledge amounted to ¥ 273,629million ($2,049,042 thousand) and ¥ 190,078 million as of March 31, 2023 and 2022, respectively, and are included in Japanese
Government Bonds under Securities. MHFG has the right to sell or repledge some of unsecured borrowed securities,
securities purchased under resale agreements and securities borrowed with cash collateral. Among them, the totals of
securities repledged were ¥15,163,833 million ($113,553,118 thousand) and ¥17,040,833 million as of March 31, 2023
and 2022, respectively, and securities neither repledged nor re-loaned were ¥2,405,207 million ($18,011,141 thousand)and ¥2,248,061 million as of March 31, 2023 and 2022, respectively.

10. Trading Assets and Liabilities
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥ 7,610,349¥ 6,487,722$ 56,989,290

9,515,848
278,295¥ 17,404,494

6,285,978447,714¥ 13,221,415

71,258,415
2,083,987$ 130,331,692¥ 3,555,828¥ 3,470,030$ 26,627,439

8,817,519
324,659¥ 12,698,007

5,881,652
257,293¥ 9,608,976

66,029,052
2,431,178$ 95,087,669

As of March 31,

Trading Assets:
Trading Securities
Derivatives for Trading
Transactions
Derivatives for Trading Securities
Total
Trading Liabilities:
Trading Securities Sold Short
Derivatives for Trading
Transactions
Derivatives for Trading Securities
Total－ 29 －

Securities Lending and Borrowing Transactions、Trading Assets and Liabilities2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）11. Securities
Millions of yen
2023

As of March 31,

Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds*1
Japanese Stocks
*2
Other
Total
*1

*2

¥17,248,598
554,6623,235,341
3,025,940
13,298,596¥37,363,140

2022

Thousands of U.S. dollars
2023¥25,638,710
419,646
3,042,037
3,239,400
12,301,265¥44,641,060$129,164,285
4,153,533
24,227,509
22,659,435
99,585,118$279,789,880

Japanese Stocks included investments in non-consolidated subsidiaries and affiliates of ¥292,760 million ($2,192,304 thousand) and ¥241,258 million as ofMarch 31, 2023 and 2022, respectively.
Other included investments in non-consolidated subsidiaries and affiliates of ¥144,097 million ($1,079,061 thousand) and ¥110,915 million as of March 31,
2023 and 2022, respectively.

12. Loans and Bills Discounted
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥ 75,323,537
9,661,366
3,331,149
160,210¥ 71,528,939
9,067,728
3,705,625
183,388$ 564,052,253
72,348,112
24,944,960
1,199,718

210,890¥ 88,687,155

250,598¥ 84,736,280

1,579,232$ 664,124,275

As of March 31,

Loans on Deeds
Overdrafts
Loans on Notes
Bills Discounted
Financing Receivables, including
Factoring, Leasing and Property
Financing
Total

Loans and Bills Discounted as of March 31, 2023 and 2022 include the following:
Millions of yen
2023

As of March 31,

Claims against Bankrupt and Substantially Bankrupt*1
Obligors*2
Claims with Collection Risk
Claims for Special Attention*3
Loans Past Due for 3 Months or More
*4
Restructured Loans
Sub-total
Normal Claims
Total

*5

¥

43,866655,396
372,433
288
372,144¥ 1,071,696
100,457,014¥101,528,710

¥

2022

50,846722,222354,034
2,498
351,535¥ 1,127,104
96,224,900¥ 97,352,004

Thousands of U.S. dollars
2023$

328,4884,907,864
2,788,930
2,162
2,786,768$ 8,025,282
752,261,601$ 760,286,883*1

Claims against Bankrupt and Substantially Bankrupt Obligors are claims against debtors in bankruptcy due to the commencement of bankruptcy procedures,the commencement of reorganization proceedings, the petition for the commencement of rehabilitation proceedings, and claims equivalent these.
*2
Claims with Collection Risk are claims that the debtor is not yet in a state of bankruptcy, but its financial position and business performance have deteriorated,
and it is highly probable that principal's collection and interest on claims in accordance with the terms of the contract will not be received.
These claims do not fall under the category of Claims against Bankrupt and Substantially Bankrupt Obligors.
*3
Loans Past Due for 3 Months or More are loans on which payments of principal and/or interest have not been made for a period of three months or more since
the next day following the first due date, and which are not included in Claims against Bankrupt and Substantially Bankrupt Obligors, or Claims with Collection
Risk.
*4
Restructured Loans represent loans whose contracts were amended in favor of obligors (e.g. reduction of, or exemption from, stated interest, deferral ofinterest payments, extension of maturity dates and renunciation of claims) in order to assist or facilitate the restructuring of the obligors. Claims against
Bankrupt and Substantially Bankrupt Obligors, Claims with Collection Risk and Loans Past Due for 3 Months or More are not included.
*5
Normal Claims are deemed to have no particular problem with the obligor's financial position and business performance and are classified as other thanClaims against Bankrupt and Substantially Bankrupt Obligors, Claims with Collection Risk, Loans Past Due for 3 Months or More and Restructured Loans.
Note: The amounts given in the above table are gross amounts before deduction of amounts for the Reserves for Possible Losses on Loans.

－ 30 －

Securities、Loans and Bills Discounted、Foreign Exchange Assets and Liabilities、Other Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Commitment Line for Loans
Overdraft protection on current accounts and contracts of the commitment line for loans are contracts by which banking
subsidiaries are bound to extend loans up to the prearranged amount, at the request of customers, unless the customer is inbreach of contract conditions. The unutilized balance of these contracts amounted to ¥113,911,399 million ($853,013,328
thousand) and ¥105,257,698 million as of March 31, 2023 and 2022, respectively. Of these amounts, ¥80,776,418 million($604,885,569 thousand) and ¥76,092,443 million as of March 31, 2023 and 2022, respectively, relate to contracts of which
the original contractual maturity is one year or less, or which are unconditionally cancelable at any time.
Since many of these contracts expire without being exercised, the unutilized balance itself does not necessarily affectfuture cash flows. A provision is included in many of these contracts that entitles the banking subsidiaries to refuse theexecution of loans, or reduce the maximum amount under contracts when there is a change in the financial situation,necessity to preserve a claim, or other similar reasons. The banking subsidiaries require collateral such as real estate andsecurities when deemed necessary at the time the contracts are entered into. In addition, they periodically monitor
customers’ business conditions in accordance with internally established standards and take necessary measures tomanage credit risks such as amendments to contracts.

13. Foreign Exchange Assets and Liabilities
Millions of yen
2023

As of March 31,

Foreign Exchange Assets:
Foreign Bills Bought
Foreign Bills Receivable
Due from Banks (Foreign)
Advance to Foreign Banks
Total
Foreign Exchange Liabilities:
Due to Banks (Foreign)
Advance from Foreign Banks
Foreign Bills Payable
Foreign Bills Sold
Total

2022

Thousands of U.S. dollars
2023¥ 1,289,330
668,991
447,571
2,693¥ 2,408,587¥ 1,623,424
637,718
363,057
3,292¥ 2,627,492

9,655,012
5,009,671
3,351,592
20,173$ 18,036,448

¥

¥

$

¥

600,698
30,35338,556
1,943
671,552

481,455
20,922
1,003,331
2,745¥ 1,508,453$$

4,498,265
227,302
288,730
14,551
5,028,848

14. Other Assets
Millions of yen
2023

As of March 31,

Accrued Income
Prepaid Expenses
Other
Total

¥

507,243
97,224
8,085,078¥ 8,689,547

¥

2022

319,692
81,416
7,396,687¥ 7,797,796－ 31 －

Securities、Loans and Bills Discounted、Foreign Exchange Assets and Liabilities、Other Assets

Thousands of U.S. dollars
2023$

3,798,442
728,055$ 60,544,248$ 65,070,745

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）15. Tangible Fixed Assets
Millions of yen
2023

As of March 31,

Land
Buildings
Lease Assets
Construction in Progress
Other
Total
Accumulated Depreciation
Book Value Adjusted for Gains on
Sales of Replaced Assets andOthers¥618,787
325,241
6,333
43,679111,808¥ 1,105,851¥
825,1812022¥

623,627
340,016
4,675
21,737
105,919¥ 1,095,977¥
843,560

30,641Thousands of U.S. dollars
2023

$

$
$

4,633,726
2,435,538
47,429327,092
837,268
8,281,053
6,179,283

30,854229,457

2022

Thousands of U.S. dollars2023¥ (313,052)¥ (269,140)$ (2,344,262)(363,448)(460,013)(2,721,643)(43,937)¥ (720,437)(54,732)¥ (783,886)(329,018)$ (5,394,923)

16. Reserves for Possible Losses on Loans
Millions of yen
2023

As of March 31,

General Reserve for Possible
Losses on Loans
Specific Reserve for Possible
Losses on Loans
Reserve for Possible Losses on
Loans to Restructuring Countries
Total

17. Assets Pledged as Collateral
The following assets were pledged as collateral:
Millions of yen
2023

As of March 31,

Trading Assets
Securities
Loans and Bills Discounted¥ 3,732,150
8,502,478
8,375,232

2022

Thousands of U.S. dollars
2023¥ 1,628,778
6,083,866
8,741,097$ 27,947,812
63,669,901
62,717,029

The following liabilities were collateralized by the above assets:
Millions of yen
2023

2022

Thousands of U.S. dollars
2023

909,204$ 7,402,661

10,542,199

5,864,016

78,944,133

592,0112,928,643

456,7075,434,820

4,433,216
21,930,836

As of March 31,

Deposits
Payables under Repurchase
Agreements
Guarantee Deposits Received
under Securities Lending
Transactions
Borrowed Money¥ 988,551¥－ 32 －

Tangible Fixed Assets、Reserves for Possible Losses on Loans、Assets Pledged as Collateral、Deposits、Call Money and Bills Sold、Commercial Paper2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

In addition to the above, the settlement accounts of foreign and domestic exchange transactions or derivatives
transactions and others were collateralized, and margins for futures transactions were substituted by Cash and Due from
Banks of ¥82,102 million ($614,816 thousand) and ¥65,886 million, Trading Assets of ¥261,218 million ($1,956,110
thousand) and ¥444,724 million, Securities of ¥6,146,181 million ($46,025,025 thousand) and ¥5,149,064 million, and Loans
and Bills Discounted of ¥93,011 million ($696,506 thousand) and ¥89,778 million as of March 31, 2023 and 2022,
respectively.
In addition, ¥1,519,763 million of Securities were pledged under general collateral repurchase agreements using thesubsequent collateral allocation method.
Other Assets included guarantee deposits of ¥89,103 million ($667,241 thousand) and ¥97,525 million, collateral pledged
for derivatives transactions of ¥881,210 million ($6,598,854 thousand) and ¥1,453,972 million, margins for futurestransactions of ¥170,675 million ($1,278,087 thousand) and ¥431,281 million, and other guarantee deposits of ¥840,156
million ($6,291,423 thousand) and ¥959,298 million as of March 31, 2023 and 2022, respectively.

18. Deposits
Millions of yen
2023

As of March 31,

Current Deposits*1
Ordinary Deposits
Deposits at NoticeTime Deposits
Negotiable Certificates of Deposit
Other
Total
*1

¥ 15,535,894
84,504,661
1,235,665
42,533,384
13,788,347
6,689,369¥ 164,287,324

2022

Thousands of U.S. dollars
2023¥ 15,178,062
79,927,201
1,123,098
35,788,746
16,868,931
6,813,763¥ 155,699,803$ 116,338,884
632,804,113
9,253,152
318,506,701
103,252,568
50,092,628$ 1,230,248,046

Ordinary Deposits includes savings deposits.

19. Call Money and Bills Sold
Millions of yen
2023

As of March 31,

Call Money
Bills Sold
Total

¥ 1,814,873―¥ 1,814,873

2022

Thousands of U.S. dollars
2023¥ 1,278,050―¥ 1,278,050$ 13,590,489―$ 13,590,489

20. Commercial Paper
Millions of yen
As of March 31,

Commercial Paper*1

Thousands of U.S. dollars

2023

2022

2023

¥1,782,111¥1,775,859$13,345,148*1

Average interest rates
2023
2022

4.85%

2.06%

Average interest rates are the weighted-average interest rates of debts calculated from the interest rates and outstanding balances at the end of the fiscalyear.

－ 33 －

Tangible Fixed Assets、Reserves for Possible Losses on Loans、Assets Pledged as Collateral、Deposits、Call Money and Bills Sold、Commercial Paper2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）21. Borrowed Money
Millions of yen
As of March 31,

Borrowed Money
Bills Rediscounted*2,3
Other Borrowings

Thousands of U.S. dollars*1

Average interest rates
2023
2022

2023

2022

2023

¥4,155,480¥6,590,527―¥6,590,527$31,117,874

1.32%$31,117,874

1.32%¥4,155,480

*1

0.19%
―%
0.19%

Average interest rates are the weighted-average interest rates of debts calculated from the interest rates and outstanding balances at the end of the fiscal
year.
Other Borrowings included subordinated debt of ¥204,000 million ($1,527,632 thousand) and ¥219,000 million as of March 31, 2023 and 2022, respectively.
*3
Repayments for Other Borrowings are scheduled for the next five years as follows:
Fiscal year ending March 31, 2024
¥1,118,801 million($8,378,026 thousand)2025¥2,100,757 million($15,731,300 thousand)
2026¥166,378 million($1,245,906 thousand)
2027¥172,541 million($1,292,059 thousand)
2028¥77,455 million($580,014 thousand)*2－ 34 －

Borrowed Money2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

22. Short-term Bonds
Major components of Short-term Bonds as of March 31, 2023 were as follows:
Issuer

Issue

MHSC

Nov. 2022–Mar. 2023

*1

Oct. 2022–Mar. 2023

Total
*1

Millions of yen Thousands of U.S. dollars¥436,000[436,000]
41,141[41,141]¥477,141$3,264,939[3,264,939]
308,086[308,086]$3,573,025

Interest rates

0.00%–0.05%
0.07%–0.13%

Due

Apr. 2023–
Sep. 2023
Apr. 2023–
Jun. 2023

indicates the total amount of Short-term Bonds issued by the domestic consolidated subsidiary, Allstar Funding Co., Ltd, and the overseas consolidated
subsidiary, JAPAN SECURITIZATION CORPORATION.

Notes: 1. Figures indicated in brackets [ ] represent the amounts to be redeemed within one year.
2. No collateral was provided for the above Short-term Bonds.
Major components of Short-term Bonds as of March 31, 2022 were as follows:
Issuer

Issue

MHSC

Aug. 2021–Mar. 2022

*1

Dec. 2021–Mar. 2022

Total
*1

Millions of yen

Interest rates¥490,500[490,500]
46,667[46,667]¥537,167

0.00%–0.03%
0.06%–0.10%

Due

Apr. 2022–
Oct. 2022
Apr. 2022–
May 2022

indicates the total amount of Short-term Bonds issued by the domestic consolidated subsidiary, Allstar Funding Co., Ltd, and the overseas consolidated
subsidiary, JAPAN SECURITIZATION CORPORATION.

Notes: 1. Figures indicated in brackets [ ] represent the amounts to be redeemed within one year.
2. No collateral was provided for the above Short-term Bonds.

－ 35 －

Short-term Bonds

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）23. Bonds and Notes
Major components of Bonds and Notes as of March 31, 2023 were as follows:

IssuerDescription

Issue

MHFG

Straight Bonds

Jul. 2014–
Mar. 2023

MHBK

Straight Bonds

Jan. 2006–
Mar. 2020*1

Straight Bonds

Mar. 2014*2

Straight Bonds

Aug. 2007–
Mar. 2023

Total

Millions of yen¥8,568,724[201,788](US$ 29,300,000 thousand)(EUR 12,700,000 thousand)(GBP 500,000 thousand)(AUD 625,000 thousand)
585,861[31,634](US$ 2,901,517 thousand)(AUD 370,000 thousand)
200,249[—](US$ 1,499,544 thousand)
2,016,354[734,905](US$ 8,145,156 thousand)(AUD 183,723 thousand)(EUR 458,011 thousand)(BRL 42,498 thousand)(TRY 800 thousand)¥11,371,189

Thousands of U.S.
dollars

Interest
rates$64,165,979[1,511,073]

0.12%–
6.15%

Apr. 2023–

4,387,160[236,892]

1.00%–
6.41%

Jul. 2023–

1,499,544
[—]

4.60%

Mar. 2024

15,099,255[5,503,258]

0.00 %–
32.80%

Apr. 2023–

Due$85,151,938*1

indicates the total amount of straight bonds issued by the overseas consolidated subsidiaries, Mizuho Financial Group (Cayman) 2 Limited and Mizuho
Financial Group (Cayman) 3 Limited.
*2
indicates the total amount of straight bonds issued by the domestic consolidated subsidiary, MHSC, and the overseas consolidated subsidiaries, Mizuho
International plc, Mizuho Securities USA LLC, Mizuho Capital Markets LLC, Mizuho Markets Cayman LP, and Banco Mizuho do Brasil S.A.

Notes: 1. Figures indicated in brackets [ ] represent the amounts to be redeemed within one year.
2. The amounts of foreign currency-denominated bonds are shown in original currencies in parentheses ( ).
3. Repayments for Bonds and Notes are scheduled for the next five years as follows:
Fiscal year ending March 31, 2024 ¥968,328 million ($7,251,223 thousand)2025 ¥1,737,004 million ($13,007,370 thousand)2026 ¥478,142 million ($3,580,519 thousand)2027 ¥1,236,178 million ($9,256,987 thousand)2028 ¥1,071,931 million ($8,027,047 thousand)4. Bonds and Notes as of March 31, 2023 included subordinated bonds and notes of ¥3,218,444 million ($24,100,975
thousand).
5. No collateral was provided for the above Bonds and Notes.

－ 36 －

Bonds and Notes

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Major components of Bonds and Notes as of March 31, 2022 were as follows:
IssuerDescription

Issue

MHFG

Straight Bonds

Jul. 2014–
Mar. 2022

MHBK

Straight Bonds

Jan. 2006–
Mar. 2020*1

Straight Bonds

Jul. 2012–
Mar. 2014*2

Straight Bonds

Mar. 2007–
Mar. 2022

Total
*1

*2

Millions of yen¥7,762,366[471,278](US$ 30,800,000 thousand)(EUR 8,500,000 thousand)(AUD 625,000 thousand)
810,504[256,074](US$ 4,510,991 thousand)(AUD 495,000 thousand)
367,096[183,581](US$ 2,998,905 thousand)
1,774,037[418,485](US$ 7,083,783 thousand)(AUD 212,478 thousand)(EUR 618,900 thousand)(BRL 39,243 thousand)(GBP 40,000 thousand)(TRY 13,876 thousand)¥10,714,004

Interest
rates

Due

0.00%–
4.35%

Jun. 2022–

0.50%–
4.40%

Jun. 2022–

4.20%–
4.60%

Jul. 2022–
Mar. 2024-0.14%–
54.20%

Apr. 2022–
Dec. 2061

indicates the total amount of straight bonds issued by the overseas consolidated subsidiaries, Mizuho Financial Group (Cayman) 2 Limited and Mizuho
Financial Group (Cayman) 3 Limited.
indicates the total amount of straight bonds issued by the domestic consolidated subsidiary, MHSC, and the overseas consolidated subsidiaries, Mizuho
International plc, Mizuho Securities USA LLC, Mizuho Capital Markets LLC, Mizuho Markets Cayman LP, Banco Mizuho do Brasil S.A.and Mizuho
Bank(China),Ltd.

Notes: 1. Figures indicated in brackets [ ] represent the amounts to be redeemed within one year.
2. The amounts of foreign currency-denominated bonds are shown in original currencies in parentheses ( ).
3. Repayments for Bonds and Notes are scheduled for the next five years as follows:
Fiscal year ending March 31, 2023 ¥1,329,419 million
2024 ¥821,500 million
2025 ¥1,561,899 million
2026 ¥404,052 million
2027 ¥1,269,620 million
4. Bonds and Notes as of March 31, 2022 included subordinated bonds and notes of ¥3,518,313 million.
5. No collateral was provided for the above Bonds and Notes.

－ 37 －

Bonds and Notes

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）24. Other Liabilities
Millions of yen
2023

As of March 31,

Accrued Expenses
Unearned Income
Income Taxes Payable*1*2
Lease Liabilities
Other
Total
*1

*2

¥

454,41389,971
88,27671,754
7,072,608¥ 7,777,025

2022

Thousands of U.S. dollars
2023

242,675
87,86862,69766,096
5,842,146¥ 6,301,484$ 3,402,827
673,744
661,052
537,330
52,962,470$ 58,237,423¥

Average interest rate is 2.91% and 2.89% in the fiscal year ended March 31, 2023 and 2022, respectively. It is the weighted-average interest rate of debts
calculated from the interest rates and outstanding balances at the end of the fiscal year.
Repayments for Lease Liabilities are scheduled for the next five years as follows:
Fiscal year ending March 31, 2024
¥7,720 million ($57,814 thousand)
2025¥6,197 million ($46,412 thousand)
2026¥5,413 million ($40,539 thousand)
2027¥4,953 million ($37,090 thousand)
2028¥4,362 million ($32,669 thousand)

25. Reserve for Employee Retirement Benefits(1) MHFG and its certain consolidated subsidiaries have adopted the Corporate Pension Fund Plans (“Kigyo Nenkin Kikin
Seido”), and the Termination Allowance Plans (“Taishoku Ichijikin Seido”) as Defined-Benefit Corporate Pension Plans. In
addition, MHFG and certain consolidated subsidiaries have adopted Defined- Contribution Pension Plans other than risksharing corporate pension as a part of the Termination Allowance Plans. Certain consolidated subsidiaries haveestablished employee retirement benefit trusts.
(2) Defined-Benefit Corporate Pension Plans(i) Adjustment between the balances of Retirement Benefit Obligations at the beginning and at the end of the period
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥1,278,926
30,283
5,578(33,898)(76,738)(4,062)¥1,335,890
33,4604,169(12,101)(81,365)(1,126)$9,577,105
226,775
41,773(253,845)(574,647)(30,423)¥1,200,089¥1,278,926$8,986,738

For the Fiscal Years ended March 31,

Balance of Retirement Benefit Obligations
at the beginning of the period
Service Cost
Interest Cost
Unrecognized Actuarial Differences incurred
Retirement Benefits paid
Other
Balance of Retirement Benefit Obligations
at the end of the period

Note: The above Retirement Benefit Obligations includes the amount measured by certain consolidated subsidiaries under
the simplified method.

－ 38 －

Other Liabilities、Reserve for Employee Retirement Benefits、Acceptances and Guarantees

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(ii) Adjustment between the balances of Plan Assets at the beginning and at the end of the period
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥2,070,370
34,142
63,21527,517
1,053(54,161)¥2,373,949
34,951(43,906)
28,697
1,089(53,578)$15,503,744
255,676
473,384
206,0637,886(405,586)(147,181)(4,025)(270,171)(661)(1,102,152)(30,143)¥1,990,930¥2,070,370$14,908,872

For the Fiscal Years ended March 31,

Balance of Plan Assets
at the beginning of the period
Expected Return on Plan Assets
Unrecognized Actuarial Differences incurred
Contributions from employer
Contributions from employee
Retirement Benefits paid
Cancellation of Employee Retirement Benefit
Trust
Other
Balance of Plan Assets at the end of theperiod－ 39 －

Other Liabilities、Reserve for Employee Retirement Benefits、Acceptances and Guarantees

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(iii) Adjustment between the balances of Retirement Benefit Obligations and Plan Assets at the end of the period andAdjustment to the balances of Net Defined Benefit Liability and Net Defined Benefit Asset recorded in the Consolidated
Balance Sheet
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥1,200,089(1,990,930)¥1,278,926(2,070,370)$8,986,738(14,908,872)¥(790,841)¥(791,443)$(5,922,134)2022

Thousands of U.S. dollars
2023¥ 68,429(859,271)¥ 71,774(863,217)$ 512,425(6,434,559)¥(790,841)¥(791,443)$(5,922,134)2022

Thousands of U.S. dollars
2023¥ 29,308
5,578(34,142)(47,385)
116,748¥ 32,421
4,169(34,951)(48,449)
46
10,416$ 219,471
41,773(255,676)(354,842)
88
50,532¥(39,882)¥(36,348)$(298,654)¥(47,627)¥(74,254)$(356,656)

As of March 31,

Retirement Benefit Obligations
Plan Assets
Net amount of Liability and Asset recordedin the Consolidated Balance Sheet

Millions of yen
2023

As of March 31,

Net Defined Benefit Liability
Net Defined Benefit Asset
Net amount of Liability and Asset recordedin the Consolidated Balance Sheet(iv) Employee Retirement Benefit Expenses and the breakdown
Millions of yen
2023

For the Fiscal Years ended March 31,

Service Cost
Interest Cost
Expected Return on Plan Assets
Amortization of Unrecognized Actuarial Differences
Amortization of Unrecognized Prior Service Cost
Other
Net Retirement Benefit Expenses for DefinedBenefit Corporate Pension Plans
Gains on Cancellation of Employee Retirement
Benefit Trust

Notes: 1. The amount of employee contributions to Mizuho Pension Fund is deducted from Service Cost.
2. Retirement benefit expenses of some consolidated subsidiaries which adopt the simplified method for calculating
retirement benefit obligations are included in Service Cost in full.
3. Gains on Cancellation of Employee Retirement Benefit Trust is included in Other Income.
(v) Remeasurements of Defined Benefit Plans in Other Comprehensive Income
Breakdown of Remeasurements of Defined Benefit Plans in Other Comprehensive Income (before deducting tax effect) was
as follows:
Millions of yen
2023

For the Fiscal Years ended March 31,

Unrecognized Actuarial Differences
Other
Total

¥(19,141)(11)¥(19,153)－ 40 －

Other Liabilities、Reserve for Employee Retirement Benefits、Acceptances and Guarantees

2022

Thousands of U.S. dollars
2023¥ 165,825(46)¥ 165,779$(143,337)(88)$(143,425)

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(vi) Remeasurements of Defined Benefit Plans in Total Accumulated Other Comprehensive Income
Breakdown of Remeasurements of Defined Benefit Plans in Total Accumulated Other Comprehensive Income (before
deducting tax effect) was as follows:
Millions of yen
2023

As of March 31,

Unrecognized Actuarial Differences
Other
Total

¥(262,960)(171)¥(263,131)

2022

Thousands of U.S. dollars
2023¥(243,853)(159)¥(244,012)$(1,969,155)(1,281)$(1,970,436)(vii) Plan Assets(a) Ratio of each category to the total amount of Plan Assets was as follows:
As of March 31,

Japanese Stocks
Japanese Bonds
Foreign Stocks
Foreign Bonds
General account of life insurance companies
Other
Total

2023

2022

53.44%
11.30%
13.89%
10.64%
5.78%
4.95%
100.00%52.53%
15.47%
15.12%
9.76%
5.59%
1.53%
100.00%Note: The total amount of Plan Assets includes 51.41% and 48.78% of Employee Retirement Benefit Trust established for
the Corporate Pension Fund Plans and the Termination Allowance Plans as of March 31, 2023 and 2022, respectively.
(b) Calculation of Expected Long-term Rate of Return on Plan Assets
In determining the Expected Long-term Rate of Return on Plan Assets, current and expected allocation of Plan Assets
and current and expected future long-term rate of return from various assets constituting Plan Assets have been
considered.
(viii) Basis of Actuarial Calculation
Major Basis of Actuarial Calculation
For the Fiscal Years ended March 31,

Discount Rate
Expected Long-term Rate of Return on Plan Assets

2023

2022

mainly (0.00)%- 1.54%
mainly 0.88%- 1.90%

mainly (0.00)%- 1.05%
mainly 0.78%- 1.90%(3) Defined- Contribution Pension Plans
The required amount of contributions to Defined- Contribution Pension Plans of MHFG and its consolidated
subsidiaries was ¥7,322 million ($54,836 thousand) and ¥4,077 million for the fiscal years ended March 31, 2023 and2022, respectively.

26. Acceptances and Guarantees(1) 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 Law (the Securities and Exchange Law as of March 31, 2007))
amounted to ¥1,134,235 million ($8,493,598 thousand) and ¥1,252,386 million as of March 31, 2023 and 2022,
respectively.
(2) The principal amounts promised to be indemnified for money trusts which is entrusted to a domestic consolidated trust
banking subsidiary, was ¥835,674 million ($6,257,860 thousand) and ¥832,808 million as of March 31, 2023 and 2022,
respectively.

－ 41 －

Other Liabilities、Reserve for Employee Retirement Benefits、Acceptances and Guarantees

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）27. Deferred Tax Assets and Liabilities(1) Deferred Tax Assets and Liabilities consisted of the following:
Millions of yen
2023

As of March 31,

Deferred Tax Assets:
Tax Losses Carried Forward
Devaluation of Securities
Reserves for Possible Losses on
Loans
Securities Contributed to
Employee Retirement Benefit
Trust
Net Unrealized Losses on Other
Securities
Net Deferred Hedge Losses
Depreciation and Impairment
Other
Deferred Tax Assets Subtotal:
Valuation Allowance - Tax Losses
Carried Forward
Valuation Allowance - Deductible
Temporary Differences, etc.
Valuation Allowance Subtotal:
Total
Deferred Tax Liabilities:
Net Unrealized Gains on Other
Securities
Net Defined Benefit Asset
Other
Total
Net Deferred Tax Assets

2022

Thousands of U.S. dollars
2023¥168,386
97,467¥183,409
113,592$1,260,946
729,877

223,814236,233

1,676,008

115,500

142,061

864,915

126,249
164,031
112,599
265,846
1,273,895

62,86437,688132,599
199,469
1,107,918

945,406
1,228,330
843,186
1,990,761
9,539,429(151,877)(167,408)(1,137,321)(134,555)(286,433)¥987,461(104,497)(271,905)¥836,012(1,007,607)(2,144,928)$7,394,501¥(306,406)(263,085)(124,192)¥(693,684)¥293,776¥(313,091)(263,928)(105,321)¥(682,341)¥153,671(2,294,494)(1,970,089)(930,002)$(5,194,585)$2,199,916(Change in Presentation of Financial Statements)
Net Deferred Hedge Losses included within Other - Deferred Tax Assets in the previous consolidated year has been
separately presented from this consolidated fiscal year due to increased materiality. In order to reflect the change inpresentation of the financial statements, reclassification of the previous consolidated fiscal year has been madeaccordingly.
As a result, Other - Deferred Tax Assets of ¥237,157 million presented in the consolidated statements for the previous
consolidated fiscal year has been reclassified as Net Deferred Hedge Losses of ¥37,688 million and Other of ¥199,469
million.

－ 42 －

Deferred Tax Assets and Liabilities2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Note1: MHFG and domestic subsidiaries are subject to a number of different income taxes.
Note2:Tax Losses Carried Forward and amounts according to expiration of carryforward of their Deferred Tax Assets:
As of March 31, 2023

Tax Losses Carried Forward*
Valuation Allowance
Deferred Tax Assets

Within 1 year

1-2 years

2-3 years

3-4 years

¥16
－
16

¥0
－
0

¥49,490(43,585)
5,904

¥749
(749)
－

Within 1 year

1-2 years

2-3 years

3-4 years

¥21
(15)
5

¥14
－
14

¥0
－
0

¥73,828(62,246)
11,582

Within 1 year

1-2 years

2-3 years

3-4 years

$126
－
126

$0
－
0

$370,606(326,389)
44,217$5,616(5,616)－4-5 years Over 5 years

Millions of yen
Total¥118,129(107,541)
10,587¥168,386(151,877)
16,5084-5 years Over 5 years

Millions of yen
Total

－
－
－

As of March 31, 2022

Tax Losses Carried Forward*
Valuation Allowance
Deferred Tax Assets
As of March 31, 2023

Tax Losses Carried Forward*
Valuation Allowance
Deferred Tax Assets

¥708
(708)
－

¥108,837(104,438)
4,398¥183,409(167,408)
16,001Thousands of U.S. dollars
4-5 years Over 5 years
Total

－
－
－

$884,597 $1,260,945(805,316) (1,137,321)
79,281
123,624*Tax Losses Carried Forward is the amount multiplied by the effective statutory tax rate.

(2) For the fiscal years ended March 31, 2023 and 2022, the reconciliation of the statutory tax rate of MHFG to the effective
income tax rate was as follows:
For the Fiscal Year ended March 31,

Statutory Tax Rate
Adjustments
Change in Valuation Allowance
Permanent Differences (e.g., Cash Dividends
Received)
Tax Rate Differences between the Consolidated
Subsidiaries
Equity in Income from Investments in Affiliates
Controlled Foreign Company Rules
Foreign Tax
Deductible Expenses Related to Capital
Reduction from the Subsidiary
Scope of Taxable Income Differences between
Corporate Income Tax and Enterprise Income
Tax
Other
Effective Income Tax Rate

2023

2022

30.62%

30.62%(3.13)(0.08)(2.08)(1.76)(1.15)(0.47)
0.24
4.90(1.33)(1.29)
0.66
6.66

－

(20.31)(1.33)
0.49
28.09%(1.15)(1.97)
10.05%(3)Accounting for corporate tax and local corporate tax or accounting for the related tax-effect accounting
MHFG and some domestic consolidated subsidiaries of the Group have applied the Japanese Group Relief System fromthe beginning of the fiscal year ended March 31, 2023. In addition, in accordance with “Treatment of accounting anddisclosure for applying the Japanese Group Relief System” (Practical Solutions No. 42, August 12, 2021 (“Practical
Solutions No.42”)), MHFG and some domestic consolidated subsidiaries of the Group have recorded and disclosed
corporate tax and local corporate tax or the related tax-effect accounting.

－ 43 －

Deferred Tax Assets and Liabilities2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）28. Revaluation of Land
In accordance with the Land Revaluation Law (Proclamation No.34 dated March 31, 1998), land used for business
operations of domestic consolidated banking subsidiaries was revalued. The applicable income taxes on the entire excess ofrevaluation are included in Deferred Tax Liabilities for Revaluation Reserve for Land under Liabilities, and the remainder, netof applicable income taxes, is stated as Revaluation Reserve for Land included in Net Assets.
Revaluation date: March 31, 1998
Revaluation method as stated in Article 3, Paragraph 3 of the above law: Land used for business operations wasrevalued by calculating the value on the basis of the valuation by road rating stipulated in Article 2, Paragraph 4 of
the Enforcement Ordinance relating to the Land Revaluation Law (Government Ordinance No.119 promulgated on
March 31, 1998) with reasonable adjustments to compensate for sites with long depth and other factors, and also on
the basis of the appraisal valuation stipulated in Paragraph 5.
The difference at the consolidated balance sheet date between the total fair value of land for business operation
purposes, which has been revalued in accordance with Article 10 of the above-mentioned law, and the total bookvalue of the land after such revaluation was ¥41,555 million ($311,184 thousand) and ¥52,242 million as ofMarch 31, 2023 and 2022, respectively.

29. Common Stock and Preferred Stock
Common Stock and Preferred Stock at March 31, 2023 and 2022 were as follows:
Number of shares
As of March 31, 2023
Class of stock

Common Stock

Authorized

outstanding

Interimcash
dividend

4,800,000,000

2,539,249,894

42.50

Issued and*2*1

Per share (Yen)
Year-end
cash Liquidation
value
dividend

42.50

¥―

With
Convertible Redemption
or notor notNo

Notes: 1. Treasury Stock is included. The number is as follows:
Common Stock
826 thousand shares
2. Each total number of other shares which are authorized to be issued is as follows:First Series Class XIV Preferred Stock
90,000 thousand shares
Second Series Class XIV Preferred Stock
90,000 thousand shares
Third Series Class XIV Preferred Stock
90,000 thousand shares
Fourth Series Class XIV Preferred Stock
90,000 thousand sharesFirst Series Class XV Preferred Stock
90,000 thousand shares
Second Series Class XV Preferred Stock
90,000 thousand shares
Third Series Class XV Preferred Stock
90,000 thousand shares
Fourth Series Class XV Preferred Stock
90,000 thousand sharesFirst Series Class XVI Preferred Stock
150,000 thousand shares
Second Series Class XVI Preferred Stock
150,000 thousand shares
Third Series Class XVI Preferred Stock
150,000 thousand shares
Fourth Series Class XVI Preferred Stock
150,000 thousand shares
The total number of shares of the First to Fourth Series Class XIV Preferred Stock, which are authorized to beissued, shall not exceed 90,000,000 in total.
The total number of shares of the First to Fourth Series Class XV Preferred Stock, which are authorized to beissued, shall not exceed 90,000,000 in total.
The total number of shares of the First to Fourth Series Class XVI Preferred Stock, which are authorized to beissued, shall not exceed 150,000,000 in total.

－ 44 －

Revaluation of Land、Common Stock and Preferred StockNo2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Number of shares
As of March 31, 2022
Class of stock

Common Stock

Authorized

outstanding

Interimcash
dividend

4,800,000,000

2,539,249,894¥40.00Issued and*2*1

Per share (Yen)
Year-end
cash Liquidation
value
dividend¥40.00¥―With
Convertible Redemption
or notor notNo

Notes: 1. Treasury Stock is included. The number is as follows:
Common Stock
684 thousand shares
2. Each total number of other shares which are authorized to be issued is as follows:First Series Class XIV Preferred Stock
90,000 thousand shares
Second Series Class XIV Preferred Stock
90,000 thousand shares
Third Series Class XIV Preferred Stock
90,000 thousand shares
Fourth Series Class XIV Preferred Stock
90,000 thousand sharesFirst Series Class XV Preferred Stock
90,000 thousand shares
Second Series Class XV Preferred Stock
90,000 thousand shares
Third Series Class XV Preferred Stock
90,000 thousand shares
Fourth Series Class XV Preferred Stock
90,000 thousand sharesFirst Series Class XVI Preferred Stock
150,000 thousand shares
Second Series Class XVI Preferred Stock
150,000 thousand shares
Third Series Class XVI Preferred Stock
150,000 thousand shares
Fourth Series Class XVI Preferred Stock
150,000 thousand shares
The total number of shares of the First to Fourth Series Class XIV Preferred Stock, which are authorized to beissued, shall not exceed 90,000,000 in total.
The total number of shares of the First to Fourth Series Class XV Preferred Stock, which are authorized to beissued, shall not exceed 90,000,000 in total.
The total number of shares of the First to Fourth Series Class XVI Preferred Stock, which are authorized to beissued, shall not exceed 150,000,000 in total.

－ 45 －

Revaluation of Land、Common Stock and Preferred StockNo2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）30. Stock Options
Outline of stock options and changes
For the fiscal year ended March 31, 2023
(1) Outline of stock options

As of March 31, 2023

Number of grantees

Number of stock*1
options
Grant dateCondition for vesting

Required service
periodExercise period

Fourth Series of Stock
Acquisition Rights of MHFG

Directors
Executive
Officers
Directors ofsubsidiaries of
MHFG
Executive
Officers ofsubsidiaries of
MHFG
Common stock

Fifth Series of Stock
Acquisition Rights of MHFG

6 Directors
Executive
6
Officers
Directors of
26 subsidiaries of
MHFG
Executive
Officers of
130
subsidiaries of
MHFG
1,245,200

Common stock

6 Directors
Executive
11
Officers
Directors of
23 subsidiaries of
MHFG
Executive
Officers of150
subsidiaries of
MHFG
1,177,600

December 8, 2011
August 31, 2012
The grantee may exercise the Stock Acquisition Rights whichhave been allotted based on his or her capacity as a Director
or an Executive Officer of MHFG, MHBK, MHCB, MHTB or
MHSC immediately following the date on which such grantee
loses the status as a Director or an Executive Officer of
MHFG, MHBK, MHCB, MHTB or MHSC.

April 1, 2011
to March 31, 2012
December 9, 2011
to December 8, 2031

Sixth Series of Stock
Acquisition Rights of MHFG

April 1, 2012
to March 31, 2013
September 3, 2012
to August 31, 2032

－ 46 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

Common stock

6
36
22

134

793,200

February 17, 2014
The grantee may exercise theStock Acquisition Rights whichhave been allotted based on
his or her capacity as a Director
or an Executive Officer of
MHFG, MHBK, MHTB or
MHSC immediately following
the date on which such grantee
loses the status as a Director oran Executive Officer of MHFG,MHBK, MHTB or MHSC
April 1, 2013
to March 31, 2014
February 18, 2014
to February 17, 2034

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

As of March 31, 2023

Number of grantees

Number of stock*1
options
Grant dateCondition for vesting

Required service
periodExercise period*1

Seventh Series of Stock
Acquisition Rights of MHFG

Directors
Executive Officers as definedin the Companies Act
Executive Officers as definedin our internal regulations
Directors of subsidiaries of
MHFG
Executive Officers ofsubsidiaries of MHFG

2
12
37
32
113

Common stock

960,200

December 1, 2014
The grantee may exercise the Stock Acquisition
Rights which have been allotted based on his or
her capacity as a Director, an Executive Officer
as defined in Companies Act or an Executive
Officer as defined in our internal regulations of
MHFG, MHBK, MHTB or MHSC immediately
following the date on which such grantee loses
the status as a Director, an Executive Officer as
defined in Companies Act or an Executive
Officer as defined in our internal regulations of
MHFG, MHBK, MHTB or MHSC.
April 1, 2014
to March 31, 2015
December 2, 2014
to December 1, 2034

: Shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.

－ 47 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(2) Size of stock options and changes(i) Number of stock options (in shares)
For the Fiscal Year ended
March 31, 2023

Non-vested
As of March 31, 2022
GrantedForfeited
VestedOutstanding
VestedAs of March 31, 2022
VestedExercised
Forfeited
Outstanding

Fourth Series ofStock Acquisition
Rights of MHFG

Fifth Series ofStock Acquisition
Rights of MHFG

Sixth Series ofStock Acquisition
Rights of MHFG

Seventh Series ofStock Acquisition
Rights of MHFG

7,700
─
─
7,700
─

18,700──18,700
─

2,800
─
─
2,800
─

32,300──29,400
2,900

─
7,700
7,700
─
─

─
18,70018,700
─
─

─
2,800
2,800
─
─

─
29,40029,400──Note: The above table is shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.
(ii) Price information

As of March 31, 2023

Exercise price
Average stock priceupon exercise
Fair value at grant date

Fourth Series ofStock Acquisition
Rights of MHFG

Fifth Series ofStock Acquisition
Rights of MHFG

Sixth Series ofStock Acquisition
Rights of MHFG

Seventh Series ofStock Acquisition
Rights of MHFG

¥1 per share¥1 per share¥1 per share¥1 per share¥1,542.50¥1,547.21¥1,567.00¥1,549.08¥918.40¥1,132.50¥1,926.10¥1,869.90
per shareper shareper shareper share
Note: Average stock price upon exercise and Fair value at grant date are recorded at the amount after the shareconsolidation effective as of October 1, 2020.

(3) Estimated number of stock options to be vested
Only the number of stock options actually forfeited is reflected because the number of stock options that will be forfeitedin the future cannot be readily estimated.

－ 48 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

For the fiscal year ended March 31, 2022
(1) Outline of stock options
As of March 31, 2022

Fourth Series of Stock
Acquisition Rights of MHFG

Fifth Series of Stock
Acquisition Rights of MHFG

Number of grantees

Directors
6 Directors
6
Executive
Executive
6
11
Officers
Officers
Directors of
Directors of
26 subsidiaries of23
subsidiaries of
MHFG
MHFG
Executive
Executive
Officers of
Officers of
130150
subsidiaries ofsubsidiaries of
MHFG
MHFG
*1
1,245,200 Common stock
1,177,600
Number of stock options Common stock
Grant date
December 8, 2011
August 31, 2012
Condition for vesting
The grantee may exercise the Stock Acquisition Rights whichhave been allotted based on his or her capacity as a Director
or an Executive Officer of MHFG, MHBK, MHCB, MHTB or
MHSC immediately following the date on which such grantee
loses the status as a Director or an Executive Officer of
MHFG, MHBK, MHCB, MHTB or MHSC.

Required service
periodExercise period

As of March 31, 2022

April 1, 2011
to March 31, 2012
December 9, 2011
to December 8, 2031

April 1, 2012
to March 31, 2013
September 3, 2012
to August 31, 2032

Seventh Series of Stock
Acquisition Rights of MHFG

Number of grantees

Directors
2
Executive Officers as defined12
in the Companies Act
Executive Officers as defined37
in our internal regulations
Directors of subsidiaries of32
MHFG
Executive Officers of113
subsidiaries of MHFG
*1
960,200
Number of stock options Common stock
Grant date
December 1, 2014
Condition for vesting
The grantee may exercise the Stock Acquisition Rights
which have been allotted based on his or her capacity as a
Director, an Executive Officer as defined in Companies Act
or an Executive Officer as defined in our internal regulationsof MHFG, MHBK, MHTB or MHSC immediately following thedate on which such grantee loses the status as a Director,
an Executive Officer as defined in Companies Act or an
Executive Officer as defined in our internal regulations of
MHFG, MHBK, MHTB or MHSC.
Required service
April 1, 2014
periodto March 31, 2015
Exercise period
December 2, 2014
to December 1, 2034
*1

: Shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.

－ 49 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

Sixth Series of Stock
Acquisition Rights of MHFG

Directors
6
Executive
36
Officers
Directors of
22
subsidiaries of
MHFG
Executive
Officers of134
subsidiaries of
MHFG
Common stock793,200
February 17, 2014
The grantee may exercise the Stock
Acquisition Rights which have beenallotted based on his or her capacity asa Director or an Executive Officer of
MHFG, MHBK, MHTB or MHSC
immediately following the date on whichsuch grantee loses the status as a
Director or an Executive Officer of
MHFG, MHBK, MHTB or MHSC
April 1, 2013
to March 31, 2014
February 18, 2014
to February 17, 2034

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(2) Size of stock options and changes(i) Number of stock options (in shares)
For the Fiscal Year ended
March 31, 2022

Non-vested
As of March 31, 2021
GrantedForfeited
VestedOutstanding
VestedAs of March 31, 2021
VestedExercised
Forfeited
Outstanding

Fourth Series ofStock Acquisition
Rights of MHFG

Fifth Series ofStock Acquisition
Rights of MHFG

Sixth Series ofStock Acquisition
Rights of MHFG

Seventh Series ofStock Acquisition
Rights of MHFG

10,200
─
─
2,500
7,700

22,300──
3,600
18,70010,600
─
─
7,800
2,800

42,600──
10,30032,300

─
2,500
2,500
─
─

─
3,600
3,600
─
─

─
7,800
7,800
─
─

─
10,30010,300──Note: The above table is shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.
(ii) Price information

As of March 31, 2022

Exercise price
Average stock priceupon exercise
Fair value at grant date

Fourth Series ofStock Acquisition
Rights of MHFG

Fifth Series ofStock Acquisition
Rights of MHFG

Sixth Series ofStock Acquisition
Rights of MHFG

Seventh Series ofStock Acquisition
Rights of MHFG

¥1 per share¥1 per share¥1 per share¥1 per share¥1,590.00¥1,590.00¥1,585.83¥1,584.84¥918.40¥1,132.50¥1,926.10¥1,869.90
per shareper shareper shareper share
Note: Average stock price upon exercise and Fair value at grant date are recorded at the amount after the shareconsolidation effective as of October 1, 2020.

－ 50 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(3) Estimated number of stock options to be vested
Only the number of stock options actually forfeited is reflected because the number of stock options that will be forfeitedin the future cannot be readily estimated.

31. Interest Income and Interest Expenses
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥1,750,984
392,104
13,898498,504¥877,895
275,393
1,426
58,748$13,112,061
2,936,230
104,080
3,732,999

281,313

29,6942,106,588

22,411
218,996¥3,178,214

2,431
63,419¥1,309,009

167,830
1,639,935$23,799,723¥1,049,265
17,140¥80,265
1,149$7,857,310
128,353

651,987

36,356

4,882,341

8,734
51,77634,377404,354¥2,217,636¥960,578

42
3,721
6,034
187,980¥315,550¥993,458

65,410387,721257,432
3,027,963$16,606,530$7,193,193

2022

Thousands of U.S. dollars
2023

¥—

¥1,062$—992,631¥992,631

1,016,827¥1,017,889

7,433,217$7,433,217

657,923¥657,923¥334,708

730,204¥730,204¥287,685

4,926,787$4,926,787$2,506,430

For the Fiscal Years ended March 31,

Interest Income:Loans and Bills Discounted
Securities
Call Loans and Bills Purchased
Due from Banks
Receivables under Resale
Agreements
Guarantee Deposits Paid under
Securities Borrowing
Transactions
Other Interest Income
Total
Interest Expenses:
Deposits
Call Money and Bills Sold
Payables under Repurchase
Agreements
Guarantee Deposits Received
under Securities Lending
Transactions
Commercial Paper
Borrowed Money
Other Interest Expenses
Total
Net

32. Trading Income and Trading Expenses
Millions of yen
2023

For the Fiscal Years ended March 31,

Trading Income:Net Gains on Trading Securities
Net Gains on Derivatives for
Trading Transactions
Total
Trading Expenses:
Net Losses on Trading Securities
Total
Net

－ 51 －

Stock Options、Interest Income and Interest Expenses、Trading Income and Trading Expenses

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）33. Other Operating Income
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥210,913
75,798¥121,504
116,518$1,579,405
567,608

25,965140,175¥452,853

9,383
146,550¥393,956

194,437
1,049,692$3,391,142

2022

Thousands of U.S. dollars
2023¥165,477
1,382
57,256¥224,116$1,662,141
3,539
433,967$2,099,647

2022

Thousands of U.S. dollars
2023¥147,796¥219,155$1,106,758

47,627
7,730

74,254
18,260356,656
57,892

3,260
25,052¥231,467

3,938
38,757¥354,366

24,415
187,601$1,733,322

2022

Thousands of U.S. dollars
2023¥65,698¥236,491$491,977

51,54549,707

27,585
189,598

385,993372,233

7,462
111,210¥285,625

6,585
149,805¥610,067

55,883
832,790$2,138,876

For the Fiscal Years ended March 31,

Gains on Foreign Exchange
Transactions
Gains on Sales of Bonds
Gains on Derivatives other thanfor Trading or Hedging
Other
Total

34. Other Operating Expenses
Millions of yen
2023

For the Fiscal Years ended March 31,

Losses on Sales of Bonds
Losses on Devaluation of Bonds
Other
Total

¥221,962
472
57,951¥280,386

35. Other Income
Millions of yen
2023

For the Fiscal Years ended March 31,

Gains on Sales of Stock
Gains on Cancellation of
Employee Retirement
Benefit Trust
Recovery on Written-off Loans
Gains on Disposition of Fixed
AssetsOther
Total

36. Other Expenses
Millions of yen
2023

For the Fiscal Years ended March 31,

Provision for Reserves for Possible
Losses on Loans
Losses on Impairment of Fixed
Assets
Losses on Sales of Stocks
Losses on Disposition of Fixed
AssetsOther
Total－ 52 －

Other Operating Income、Other Operating Expenses、Other Income、Other Expenses

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

37. Comprehensive Income
Reclassification adjustments and the related tax effects concerning Other Comprehensive Income
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥(417,629)
190,001(227,627)
70,383(157,244)¥(698,798)
107,131(591,666)
180,589(411,077)$(3,127,372)
1,422,808(1,704,564)
527,057(1,177,507)(318,787)(86,954)(405,741)
124,226(281,515)(57,974)(97,958)(155,933)
47,746(108,186)(2,387,203)(651,149)(3,038,352)
930,257(2,108,095)

127,170―
127,170―
127,170

130,612―130,612―130,612952,306―
952,306―
952,306

97,159(78,006)
19,153(5,854)
13,298(31,780)(133,998)(165,779)
50,741(115,038)

727,571(584,146)
143,425(43,838)
99,587

42
―
42
―
42

(23)
―
(23)
―
(23)

322
―
322
―
322

15,783¥(282,463)

7,650¥(496,061)

118,190$(2,115,197)

For the Fiscal Years ended March 31,

Net Unrealized Gains on Other Securities:
The amount arising during the period
Reclassification adjustments
Before adjustments to tax effects
The amount of tax effects
Net Unrealized Gains on Other Securities
Deferred Gains or Losses on Hedges:
The amount arising during the period
Reclassification adjustments
Before adjustments to tax effects
The amount of tax effects
Deferred Gains or Losses on Hedges
Foreign Currency Translation Adjustments:
The amount arising during the period
Reclassification Adjustments
Before adjustments to tax effects
The amount of tax effects
Foreign Currency Translation Adjustments
Remeasurements of Defined Benefit Plans:
The amount arising during the period
Reclassification Adjustments
Before adjustments to tax effects
The amount of tax effects
Remeasurements of Defined Benefit Plans
Own Credit Risk Adjustments, Net of Tax:
The amount arising during the period
Reclassification adjustments
Before adjustments to tax effects
The amount of tax effects
Own Credit Risk Adjustments, Net of Tax
Share of Other Comprehensive Income of Associates
Accounted for Using Equity Method:
The amount arising during the period
The total amount of Other Comprehensive Income－ 53 －

Comprehensive Income

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）38. Changes in Net Assets
For the fiscal year ended March 31, 2023
(i) Types and number of issued shares and of treasury stock are as follows:

Issued shares
Common stock
Total
Treasury stock
Common stock
Total

Thousands of Shares
As of
Remarks
March 31, 2023

As ofApril 1, 2022

Increase during
the fiscal year

Decrease during
the fiscal year

2,539,249
2,539,249

―
―

―
―

2,539,249
2,539,249

4,659
4,659

1,410
1,410

1,041
1,041

5,027
5,027

＊

＊Increases are due to acquisition of treasury stock by BBT trust account (787 thousand shares) and repurchase of shares constituting less than one unit andother factors (622 thousand shares). Decreases are due to distribution and sale of treasury stock through BBT trust account (636 thousand shares), exerciseof stock acquisition rights (stock options) (58 thousand shares), and repurchase of shares constituting less than one unit and other factors (346 thousand
shares). The number of shares as of March 31, 2023 includes the number of treasury stock held by BBT trust account (3,231 thousand shares).

(ii) Stock acquisition rights and treasury stock acquisition rights are as follows:

Category

Breakdown ofstockacquisitionrightsStockacquisitionrights(Treasurystock
acquisitionrights)Stockacquisitionrights as
stock option
Consolidated
subsidiaries (Treasury
stock acquisition rights)

Class ofshares to
be issuedortransferred
upon
exercise ofstock
acquisitionrightsNumber of shares to be issued or transferred
upon exercise of stock acquisition rights(Shares)
Balance asof March
31, 2023(Thousandsof
U.S.dollars)

As ofApril 1,
2022

Increaseduringthe fiscal
year

Decreaseduringthe fiscal
year

As of
March
31, 2023

Balance as ofMarch 31,2023
(Millions of
yen)

―
(―)

―
(―)

―
(―)

―
(―)

¥―
(―)

$―
(―)

―

5

41

―

―
(―)

―
(―)

―

¥5
(―)

$41
(―)

MHFG

Total

―

－ 54 －

Changes in Net Assets

Remarks

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(iii) Cash dividends distributed by MHFG are as follows (non-consolidated basis):
Cash dividends paid during the fiscal year ended March 31, 2023

Resolution

May 13,2022(

The Board of
Directors)

November 14,
2022(

The Board of
Directors

)

Type

Cash
Cash
Dividends
Dividends(Millions of (Thousands ofyen)
U.S. dollars)Common Stock¥101,542$760,391¥40.00$0.30

Common Stock¥107,889$807,920¥42.50$0.32¥209,432$1,568,311

/

/

Total

Cash
Cash
Dividends
Dividends
per Shareper Share(Yen) (U.S. dollars)

RecordDate

March 31,2022

Effective
Date

June 6,2022

September 30, December 6,
2022
2022

(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 millionof cash dividends on treasury stock held by BBT trust account.
Cash dividends with record dates falling in the fiscal year ended March 31, 2023 and effective dates coming after the end of
the fiscal year

Resolution

May 13,2023(

The Board of
Directors

Total

)

Type

Cash
Cash
Dividends
Dividends(Millions of (Thousands ofyen)
U.S. dollars)

Cash
Cash
Resource Dividends
Dividends
of per Shareper Share
Dividends(Yen) (U.S. dollars)Common Stock¥107,882$807,870

Retained
Earnings¥107,882$807,870¥42.50

$0.32

/

/

Record Effective
Date
Date

March 31, June 6,
2023
2023

(Note) 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.

－ 55 －

Changes in Net Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）For the fiscal year ended March 31, 2022
(i) Types and number of issued shares and of treasury stock are as follows:

Issued shares
Common stock
Total
Treasury stock
Common stock
Total

Thousands of Shares
As of
Remarks
March 31, 2022

As ofApril 1, 2021

Increase during
the fiscal year

Decrease during
the fiscal year

2,539,249
2,539,249

―
―

―
―

2,539,249
2,539,249

3,889
3,889

1,670
1,670

901
901

4,659
4,659

＊

＊Increases are due to acquisition of treasury stock by BBT trust account (1,062 thousand shares) and repurchase of shares constituting less than one unit andother factors (608 thousand shares). Decreases are due to distribution and sale of treasury stock through BBT trust account (536 thousand shares), exerciseof stock acquisition rights (stock options) (24 thousand shares), and repurchase of shares constituting less than one unit and other factors (340 thousand
shares). The number of shares as of March 31, 2022 includes the number of treasury stock held by BBT trust account (3,079 thousand shares).

(ii) Stock acquisition rights and treasury stock acquisition rights are as follows:

Category

Breakdown ofstockacquisitionrightsStockacquisitionrights(Treasurystock
acquisitionrights)Stockacquisitionrights as
stock option
Consolidated
subsidiaries (Treasury
stock acquisition rights)

Class ofshares to
be issuedortransferred
upon
exercise ofstock
acquisitionrightsNumber of shares to be issued or transferred
upon exercise of stock acquisition rights(Shares)
Balance asof March
31, 2022(Thousandsof
U.S.dollars)

As ofApril 1,
2021

Increaseduringthe fiscal
year

Decreaseduringthe fiscal
year

As of
March
31, 2022

Balance as ofMarch 31,2022
(Millions of
yen)

―
(―)

―
(―)

―
(―)

―
(―)

¥―
(―)

$―
(―)

―

94

768

―

―
(―)

―
(―)

―

¥94
(―)

$768
(―)

MHFG

Total

―

－ 56 －

Changes in Net Assets

Remarks

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(iii) Cash dividends distributed by MHFG are as follows (non-consolidated basis):
Cash dividends paid during the fiscal year ended March 31, 2022

Resolution

Type

May 14,2021(

The Board of
Directors)

November 12,
2021(

The Board of
Directors

)

Cash
Cash
Dividends
Dividends(Millions of (Thousands ofyen)
U.S. dollars)

Cash
Cash
Dividends
Dividends
per Shareper Share(Yen) (U.S. dollars)Common Stock¥95,201$777,724¥37.50$0.31

Common Stock¥101,545$829,549¥40.00$0.33¥196,746$1,607,273

/

/

Total

RecordDate

March 31,2021

Effective
Date

June 8,2021

September 30, December 7,
2021
2021

(Notes) 1. Cash dividends based on the resolution of the Board of Directors held on May 14, 2021 include ¥95 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 12, 2021 include ¥123 millionof cash dividends on treasury stock held by BBT trust account.
Cash dividends with record dates falling in the fiscal year ended March 31, 2022 and effective dates coming after the end of
the fiscal year

Resolution

May 13,2022(

The Board of
Directors

Total

)

Type

Cash
Cash
Dividends
Dividends(Millions of (Thousands ofyen)
U.S. dollars)

Cash
Cash
Resource Dividends
Dividends
of per Shareper Share
Dividends(Yen) (U.S. dollars)Common Stock¥101,542$829,529

Retained
Earnings¥101,542$829,529¥40.00

$0.33

/

/

Record Effective
Date
Date

March 31, June 6,
2022
2022

(Note) 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.

－ 57 －

Changes in Net Assets

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）39. Cash Flows
1. Cash and Cash Equivalents on the consolidated statement of cash flows reconciles to Cash and Due from Banks on the
consolidated balance sheet as follows:
Millions of yen
2023

2022

Thousands of U.S. dollars
2023¥67,152,100¥51,359,301$502,861,320(1,326,418)¥65,825,681(1,223,001)¥50,136,299(9,932,747)$492,928,573

As of March 31,

Cash and Due from Banks
Less: Due from Banks excluding due fromCentral Banks
Cash and Cash Equivalents

40. Lease Transactions
Finance Leases (Lessees)
Finance lease transactions that do not transfer ownership:(1) Lease Assets:• Tangible fixed assets: mainly equipment• Intangible fixed assets: software(2) The method for computing the amount of depreciation is described in “5 Standards of Accounting Method (8) Lease
Assets.”Operating Leases
The future lease payments subsequent to the end of the fiscal year for non-cancelable operating lease transactions are
summarized as follows:
Lessees:Millions of yen
2023

As of March 31,

Due in One Year or Less
Due after One Year
Total

¥43,539
258,089¥301,629

2022

Thousands of U.S. dollars
2023¥44,749
265,324¥310,073$326,042
1,932,677$2,258,719

2022

Thousands of U.S. dollars
2023¥1,008
4,767¥5,775$10,62129,938$40,559

Lessors:
Millions of yen
2023

As of March 31,

Due in One Year or Less
Due after One Year
Total

¥1,4183,997¥5,416－ 58 －Cash Flows、Lease Transactions

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

41. Financial Instruments
1. Matters Relating to the Conditions of Financial Instruments(1) Policy on Financial Instruments
Mizuho Financial Group (MHFG), which primarily engages in banking business, incurs financial liabilities such as
customer deposits and market deposits on the funding side while holding financial assets such as customer loans, stocks
and bonds on the investment side, and also engages in trading business for certain financial products. Someconsolidated subsidiaries conduct securities business and other financial business.
For above funding and investment business, MHFG appropriately manages risks of each financial instrument andcarefully watches term-gaps and other risk factors.

(2) Contents and Risk of Financial Products
The main financial assets of the Mizuho group consist of loans to customers, government bonds and stocks. These
financial assets are subject to various types of risk that may cause the Group to incur losses due to a decline in, or total
loss of, the value of assets, as a result of deterioration in a counterparty’s and/or an issuer’s financial position (“creditrisk”), or due to a decline in the value of assets caused by fluctuations in interest rates, stock prices and foreign exchange
rates and so on (“market risk”). The Group may also be exposed to the risk of incurring losses when it becomes
impossible to execute transactions in the market because of market confusion or losses arising from transactions at
prices that are significantly less favorable than usual (“market liquidity risk “).
Our stable retail deposit base represents Mizuho group’s main financing source, but we also raise funds directly fromthe market. These financing sources are subject to the risk of losses arising from funding difficulties due to market
disruption or deterioration of our financial position, which makes us difficult to raise necessary funds or forces us to raise
funds at significantly higher rates than usual(“liquidity risk”).
In addition, the Mizuho group uses derivative financial products to control the interest rate risk related to the assets andliabilities of the Group, as part of our asset and liability management (“ALM”). The Group primarily utilizes the portfolio
hedge by grouping numerous financial assets and liabilities such as loans and deposits into similar interest risk units inaccordance with risk management policies. Some derivative products like interest rate swaps are used as hedging
methods for cash-flow hedges or fair value hedges. The Group applies hedge accounting to the majority of theseproducts, treating them as deferred hedges. The effectiveness of the hedges is assessed periodically by regression
analysis and other methods to ensure whether the derivative financial products effectively work in order to offset the
exposure to changes in fair value and variable cash flows from hedged items. It should be noted that the Mizuho Group
uses derivative financial products for trading purposes and so on as well.

(3) Risk Management for Financial Products(a) Commitment to Risk Management
We recognize the conducting of operations tailored to the risks and managing such risks as a key issue relating tooverall management. In order to implement our business strategy while maintaining our financial stability, we maintaincomprehensive risk management and control measures.
We maintain basic policies for risk management established by our Board of Directors that are applicable to theentire Mizuho group. These policies clearly define the kinds of risks to be managed, set forth the organizational
structure and provide for the human resources training necessary for appropriate levels of risk management. The
policies also provide for audits to measure the effectiveness and suitability of the risk management structure. In linewith these basic policies, we maintain various measures to strengthen and enhance the sophistication of our risk
management system.
(b) General Concept of Risk Management
We classify our risk exposures according to the various kinds of risk, including credit risk, market risk, liquidity risk,
operational risk, reputational risk and model risk, and manage each type of risk according to its characteristics.
In addition to managing each type of risk individually, we have established a risk management structure to identify
and evaluate overall risk and, where necessary, to devise appropriate responses to keep risk within limits that aremanagerially acceptable in both qualitative and quantitative terms.
More specifically, we allocate risk capital to core group companies, including their respective subsidiaries, to control
risk within the limits set for each company. We also control risk within managerially acceptable limits by working toensure that the overall risk we hold on a consolidated basis does not exceed the Group’s financial strength. To ensure－ 59 －

Financial Instruments

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

the ongoing financial health of Mizuho Financial Group, we regularly monitor the manner in which risk capital is being
used in order to obtain a proper grasp of the risk profile within this framework. Reports are also submitted to the Boardof Directors and other committees of each company.
(c) Credit Risk Management
The Board of Directors of Mizuho Financial Group determines basic matters pertaining to credit risk management. In
addition, we have established the Risk Management Committee, as one of its Business Policy Committees. This
committee broadly discusses and coordinates basic policy in connection with credit risk management, matters inconnection with overall credit portfolio management, and credit risk monitoring for the Mizuho group. Under the controlof the Group Chief Risk Officer, the Credit Risk Management Department and the Risk Management Department
jointly monitor, analyze and submit suggestions concerning credit risk and formulate and execute plans in connection
with basic matters pertaining to credit risk management.
We have adopted two different but mutually complementary approaches in credit risk management. The first
approach is “credit management,” in which we manage the process for each individual transaction and individual
obligor from execution until collection, based on our assessment of the credit quality of the customer. Through thisprocess, we curb losses in the case of a credit event. The second is “credit portfolio management,” in which we utilize
statistical methods to assess the potential for losses related to credit risk. Through this process, we identify credit risk
and respond appropriately.
We use statistical methods to manage the possibility of losses by measuring the expected average loss for a oneyear risk horizon (“expected loss”) and the maximum loss within a certain confidence interval (“credit VAR”). The
difference between expected loss and credit VAR is measured as the credit risk amount (“unexpected loss”).Our
principal banking subsidiaries have established guidelines to manage “credit concentration risk,” which stems from
granting excessive credit to certain corporate groups.
The Board of Directors of each of our principal banking subsidiaries and other core group companies determines
key matters pertaining to credit risk management by establishing their respective basic policies in line with the basic
policies for credit risk management set forth by Mizuho Financial Group. Their respective Business Policy Committees
are responsible for discussing and coordinating overall management of their individual credit portfolios and transaction
policies towards obligors.
The Chief Risk Officer of each principal banking subsidiary and core group company is responsible for mattersrelating to planning and implementing credit risk management. Departments in charge of credit risk management are
responsible for planning and administering credit risk management and conducting credit risk measuring andmonitoring. Credit Departments determine policies and approves/disapproves individual transactions regarding review
and management of and collection from customers in accordance with the lines of authority set forth by each principal
banking subsidiary. In addition, each of our principal banking subsidiaries has also established internal audit groups
that are independent of the business departments in order to ensure appropriate credit risk management.
(d) Market Risk Management
The Board of Directors of Mizuho Financial Group determines basic matters pertaining to market risk management
policies. In addition, we have established the Risk Management Committee, as one of its Business Policy
Committees. The committee broadly discusses and coordinates matters concerning basic policy and operations inconnection with market risk management and market risk monitoring, and proposes measures to be taken in
emergencies such as sudden market changes.
The Group Chief Risk Officer is responsible for matters relating to market risk management planning andoperations. The Risk Management Department of Mizuho Financial Group is responsible for monitoring market risk,
reports and analyses, proposals, setting limits and guidelines, and formulating and implementing plans relating tomarket risk management. In addition, the department assesses and manages the overall market risk of the Mizuho
group as a whole and keeps track of the market risk situation of our principal banking subsidiaries and other coregroup companies. The department also submits reports to the President & CEO on a daily basis and to our Board of
Directors and the Executive Management Committee of Mizuho Financial Group on a regular basis.
To manage market risk, we set limits that correspond to risk capital allocations. The amount of risk capital allocatedto market risk corresponds to VAR and additional costs that may arise in order to close relevant positions.

－ 60 －

Financial Instruments

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

For trading and banking activities, we set limits for VAR and for losses. For banking activities, we set position limits
based on interest rate sensitivity as needed.
The Board of Directors of each of our principal banking subsidiaries and other core group companies determine key
matters pertaining to market risk by establishing their respective basic policies in line with the basic policies for market
risk management set forth by Mizuho Financial Group. Based on a common Mizuho Group risk capital allocation
framework, the above-mentioned companies manage market risk by setting limits according to the risk capital
allocated to market risk by Mizuho Financial Group. They have the same market risk management structure as theMizuho Financial Group, such as their Business Policy Committees being responsible for overall discussion andcoordination of the market risk management.
In addition, they have established middle offices specializing in risk management that are independent of their front
offices, which engage in market transactions, and their back offices, which are responsible for book entries andsettlements. This system enables them to achieve mutual checks and control over market operations.
When VAR is not adequate to control risk, the middle offices manage risk using additional risk indices such as 10
BPV (Basis Point Value), carry out stress tests and set stop loss limits as needed.
(e) Situation of Market Risk
i. Banking Business
The following table shows the VAR figures relating to our banking activities for the fiscal years indicated:

For the Fiscal Years ended March 31,

As of fiscal year end
Maximum
Minimum
Average

Billions of yen
2023¥223.5
392.2
152.1
217.6

2022

Thousands of U.S. dollars
2023¥209.7
321.9
191.0
266.0

$1,673,674
2,937,095
1,139,497
1,630,215[Definition of Banking Business]
The following transactions are categorized as banking business, with trading business and cross-shareholdings
being categorized separately.
(1) Deposits and loans as well as related funding activities, and hedge against interest rate risk.
(2) Equity (excluding cross-shareholdings), bonds, investment trusts, etc. and hedges against related market
risk.
The core deposit of liquid deposits is to be specified and incorporated into the measurement of market risk.
Banking business VAR used to calculate Market Risk Equivalent is based on the following:• VAR : historical simulation method;• confidence interval: one-tailed 99%;
• holding period of one month ; and• historical observation period of three years.

－ 61 －

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ii. Trading Business
The following table shows VAR figures of our trading activities for the fiscal years indicated :For the Fiscal Years ended March 31,

Billions of yen
2023

2022

Thousands of U.S. dollars
2023

As of fiscal year end
Maximum
Minimum
Average

¥7.0
8.3
3.1
5.3

¥5.3
10.2
2.9
4.3

$53,042
62,61023,83140,430[Definition of Trading Business](1) Transactions held for the purpose of short-term resale.
(2) Transactions held for the purpose of making a profit from price fluctuations over a short period as well as
fixing a profit from arbitrage activities.
(3) Deals that have both aspects of (1) and (2) above.
(4) Deals held for broking business or market making business.
Trading business VAR used to calculate Market Risk Equivalent is based on the following:• VAR: historical simulation method;• confidence interval: one-tailed 99%;
• holding period of one trading day; and• historical observation period of three years.
iii. Cross-shareholdings
For cross-shareholdings, we take the same market risk management approach as that for Banking and Tradingbusinesses with the use of VAR and risk indices.
The risk index for the cross-shareholdings (sensitivity of the portfolio to a 1% change in the equity index of
TOPIX) is ¥20.1 billion ($150,636 thousand) and ¥25.5 billion for the fiscal years ended March 31, 2023 and 2022,
respectively.
iv. Risk management using VAR
VAR is a commonly used market risk management technique with statistical assumptions to measure maximum
possible loss in the market, which will be incurred to the holding portfolio in a certain period with some probability.
It should be noted that in general VAR model has the following shortcomings:• VAR estimates could differ by assumptions of holding period, confidence interval level and approaches forthe measurement.
• VAR which is calculated based on historical data does not necessarily indicate an accurate future possible
maximum loss.
• VAR might underestimate the probability of extreme market movements when the market gets inactive as
VAR assumes sales of holding portfolio and hedges in the market during the holding period for the
calculation.
• The use of a 99% confidence level neither takes account of, nor makes any statement about, any losses thatmight occur beyond this confidence level.
The historical simulation method used as the measurement technique of VAR assumes that change in a market
movement follows an empirical distribution. Therefore, the model might underestimate the risk under thecircumstance that the market is likely to move extremely beyond the assumption. We check the validity of themarket risk measurement made by VAR approach periodically by the back-test which compares VAR with actual
profit and loss. In addition to VAR, we make a wide variety of management and controls such as risk indicesmonitoring, implementation of stress tests, loss limit monitoring in order to make strict risk management by
capturing carefully all risks, including what VAR approach is not able to cover.
(f) Liquidity Risk Management
Our liquidity risk management structure is generally the same as the market risk management structure describedabove (“Item (d) Market Risk Management”). Moreover, the Group Chief Financial Officer is also responsible formatters related to planning and operation of funds management, while the Financial Planning Department is
responsible for its monitoring and adjusting, and also for planning and implementing measures on funds
management. Reports on the status of and other factors relating to, cash funding management are submitted to theBoard of Directors, the Risk Committee, the Executive Management Committee, the President & Group CEO, and the－ 62 －

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Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Business Policy Committees respectively on a regular basis.
We measure liquidity risk using indices pertaining to funds management, such as limits on funds raised from themarket. Limits on liquidity risk are discussed and coordinated by the Risk Management Committee, discussed further
by the Executive Management Committee and determined by the President & CEO. We have establishedclassifications according to the status of cash funding management, ranging from “normal” to “anxious” and “crisis,”and have established procedures for dealing with cases which are deemed to fall into the “anxious” or “crisis”
categories. Additionally, we have established a structure under which we will be able to respond smoothly in theevent of emergency situations that affect our funds management.

(4) Supplementary Explanation of Matters Relating to Fair Value of Financial Instruments and Others
Since certain assumptions and others are adopted for calculating fair values of financial instruments, they may differ
when adopting different assumptions and others.

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2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）2. Matters relating to fair value of financial instruments and breakdown of fair value by level
The following are the consolidated balance sheet amounts, fair values, differences between them and breakdown of fairvalues by level as of March 31, 2023. Stocks and others without a quoted market price and Investments in Partnerships
and others are excluded from the table below (see (Note 3)). In addition, notes concerning Cash and Due from Banks, Call
Loans and Bills Purchased, Receivables under Resale Agreements, Guarantee Deposits Paid under Securities Borrowing
Transactions, Foreign Exchange (assets / liabilities), Call Money and Bills Sold, Payables under Repurchase Agreements,
Guarantee Deposits Received under Securities Lending Transactions, and Due to Trust Accounts are omitted since these
instruments are mainly settled in the short term and the fair values approximate the book values.
Fair values of financial instruments are categorized into three levels as below on the basis of the observability and themateriality of the valuation inputs used in fair value measurements.
Fair values of Level 1: Fair values measured by quoted prices of the assets or liabilities being measured which are given in
active markets among observable valuation inputs
Fair values of Level 2: Fair values measured by inputs other than inputs included within Level 1 among observablevaluation inputs
Fair values of Level 3: Fair values measured by unobservable valuation inputs
When several inputs that have significant impact on fair value measurement are used and those inputs are categorized
into different levels, the fair value is categorized into the lowest priority level for fair value measurement among the levels
in which each of the inputs belongs.
(Change in Presentation)"Matters relating to fair value of financial instruments and others" and "Matters relating to breakdown of fair value offinancial instruments by level" disclosed in the previous consolidated fiscal year has been collectively presented in"Matters relating to fair value of financial instruments and breakdown of fair value by level" from this consolidated fiscal
year for conciseness and clarity to contribute to investors' understanding. To reflect this change in presentation, the notes
for the previous consolidated fiscal year have been reclassified.
Short positions in bonds included in “Other Liabilities” in the consolidated balance sheet has been separately presented
from this consolidated fiscal year because of increased materiality.
To reflect this change in presentation, the amount as of the end of the previous consolidated fiscal year has been notedaccordingly.

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Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(1)Financial instruments recorded at fair value in the consolidated balance sheet
Millions of yen
As of March 31, 2023

Other Debt Purchased
Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
StocksOther
Money Held in Trust
Securities
Other Securities
StocksJapanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
Foreign Bonds
Other(*1)
Total Assets
Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes
Other Liabilities
Short Positions In Bonds
Total Liabilities
Derivative Transactions(*2,3)Interest Rate and Bond-Related
Transactions
Currency-Related Transactions
Stocks-Related Transactions
Commodity-Related Transactions
Credit Derivative Transactions
Total Derivative Transactions

Consolidated Balance Sheet Amount
Level 2
Level 3

Level 1

Total¥－

¥49,378¥13,071¥62,450

1,010,255

6,862

－

1,017,117－－
217,673
1,189,560－

137,837
802,481－
4,218,200
486,684－0
16
27,461
4

137,837
802,481217,689
5,435,223
486,6882,505,760
15,770,850－
678,443

9,962－

2,515,722
16,449,293－－
2,720,334
717,528¥24,131,962

554,6623,040,974
6,754,038
1,053,012¥17,782,575－
194,367
80,134
16,404¥341,423

554,6623,235,341
9,554,507
1,786,945¥42,255,962¥2,941,607－¥613,842
221,479

¥378
1,334

¥3,555,828
222,813－¥2,941,607

2,875,517¥3,710,839－¥1,712

2,875,517¥6,654,159¥80,487－(9,873)
4,883－¥75,496¥(152,178)
194,459(12,511)(968)
27,842¥56,643¥106,340
16,041
52,6152,223
1,785¥179,006¥34,649
210,500
30,2306,137
29,628¥311,145*1

The investment trusts that we regard net asset value disclosed in Article 24-3 and 24-9 of “Implementation Guidance on Accounting Standard for Fair Value
Measurement” (ASBJ Guidance No.31, June 17, 2021) as fair value are not included in the above table. The relevant investment trusts in Article 24-3 and24-9 are ¥3,214 million and ¥31,982 million in the consolidated balance sheet.

*2

Derivative Transactions recorded in Trading Assets, Trading Liabilities, Derivatives other than for Trading Assets, Derivatives other than for Trading Liabilities,
and others are presented as a lump sum.Net claims and debts that arose from derivative transactions are presented on a net basis, and the item that is net
debts in total is presented in brackets.

*3

Derivative Transactions applying for hedge accounting are ¥(723,677) million in the consolidated balance sheet. The deferred method is mainly applied.
“Treatment of Hedge Accounting for Financial Instruments that Reference LIBOR” (ASBJ Practical Solutions No.40, March 17, 2022) is applied to these hedgetransactions.

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Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Millions of yen
As of March 31, 2022

Other Debt Purchased
Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
StocksOther(*1)
Money Held in Trust(*1)
Securities
Other Securities
StocksJapanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
Foreign Bonds
Other(*1)
Total Assets

Consolidated Balance Sheet Amount
Level 2
Level 3

Level 1

Total¥－

¥39,763¥17,908¥57,671

1,475,198

11,386－

1,486,585－－
271,861
938,866－

133,878
963,912－2,592,672
540,722－0
190
19,245
4

133,878
963,912272,051
3,550,784
540,727

2,567,148
24,661,972－
496,757

10,161－

2,577,310
25,158,730－－
3,367,926
36,097¥33,319,072

419,646
2,805,999
5,423,731
6,927¥13,435,398－
236,037
145,936
16,082¥445,565

419,646
3,042,037
8,937,594
59,107¥47,200,036¥3,003,754¥416,497¥－¥3,420,251－

173,973

1,559

175,533－¥3,003,754

1,619,641¥2,210,112－¥1,5591,619,641¥5,215,425¥6,026(39)(30,107)
20,816－¥(3,303)¥(102,734)(60,655)
139,302(18,426)(2,066)¥(44,580)¥53,634
33,00853,726653
1,919¥142,942¥(43,073)(27,686)
162,922
3,043(146)¥95,059

Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes
Other Liabilities
Short Positions In Bonds(*1)
Total Liabilities
Derivative Transactions(*2,3)Interest Rate and Bond-Related
Transactions
Currency-Related Transactions
Stocks-Related Transactions
Commodity-Related Transactions
Credit Derivative Transactions
Total Derivative Transactions*1

Investment trust and others applying the transitional measures set forth in Article 5, Item 6 of “Cabinet Office Ordinance for Partial Revision of the Ordinanceon the Terminology, Forms, and Preparation Methods of the financial statements” (Cabinet Office Ordinance No. 9 March 6, 2020) are not included in abovetable. The financial assets and liabilities of the relevant investment trust and others in the consolidated balance sheet is ¥1,754,422 million and ¥49,779
million.

*2

Derivative Transactions recorded in Trading Assets, Trading Liabilities, Derivatives other than for Trading Assets, Derivatives other than for Trading Liabilities,
and others are presented as a lump sum.
Net claims and debts that arose from derivative transactions are presented on a net basis, and the item that is net debts in total is presented in brackets.

*3

Derivative Transactions applying for hedge accounting are ¥(295,542) million in the consolidated balance sheet. The deferred method is mainly applied.
“Treatment of Hedge Accounting for Financial Instruments that Reference LIBOR” (ASBJ Practical Solutions No.40, March 17, 2022) is applied to these hedgetransactions.

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Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

As of March 31, 2023

Other Debt Purchased
Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
StocksOther
Money Held in Trust
Securities
Other Securities
StocksJapanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds
Foreign Bonds
Other(*1)
Total Assets
Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes
Other Liabilities
Short Positions In Bonds
Total Liabilities
Derivative Transactions(*2,3)Interest Rate and Bond-Related
Transactions
Currency-Related Transactions
Stocks-Related Transactions
Commodity-Related Transactions
Credit Derivative Transactions
Total Derivative Transactions

Thousands of U.S. dollars
Consolidated Balance Sheet Amount
Level 2
Level 3
Total

Level 1$－$369,765$97,886$467,651

7,565,189

51,389－7,616,578－－
1,630,024
8,907,899－

1,032,180
6,009,300－
31,587,543
3,644,482－
0
121
205,64536

1,032,180
6,009,300
1,630,145
40,701,087
3,644,518

18,764,120
118,098,324－
5,080,449

74,600－18,838,720
123,178,773－－
20,370,931
5,373,135$180,709,622

4,153,533
22,772,010
50,576,898
7,885,368$133,162,917－
1,455,499
600,079
122,847$2,556,713

4,153,533
24,227,509
71,547,908
13,381,350$316,429,252$22,027,911－$4,596,694
1,658,522$2,834
9,991$26,627,439
1,668,513－$22,027,911

21,533,006$27,788,222－$12,825

21,533,006$49,828,958$602,720－(73,940)
36,566－$565,346$(1,139,572)
1,456,187(93,687)(7,257)
208,497$424,168$796,319
120,123
394,005
16,651
13,371$1,340,469$259,467
1,576,310
226,378
45,960221,868$2,329,983*1

The investment trusts that we regard net asset value disclosed in Article 24-3 and 24-9 of “Implementation Guidance on Accounting Standard for Fair Value
Measurement” (ASBJ Guidance No.31, June 17, 2021) as fair value are not included in the above table. The relevant investment trusts in Article 24-3 and24-9 are $24,069 thousand and $239,495 thousand in the consolidated balance sheet.

*2

Derivative Transactions recorded in Trading Assets, Trading Liabilities, Derivatives other than for Trading Assets, Derivatives other than for Trading Liabilities,
and others are presented as a lump sum.
Net claims and debts that arose from derivative transactions are presented on a net basis, and the item that is net debts in total is presented in brackets.

*3

Derivative Transactions applying for hedge accounting are $(5,419,178) thousand in the consolidated balance sheet. The deferred method is mainly applied.
“Treatment of Hedge Accounting for Financial Instruments that Reference LIBOR” (ASBJ Practical Solutions No.40, March 17, 2022) is applied to these hedgetransactions.

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Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(2) Financial instruments other than financial instruments recorded at fair value in the consolidated balance sheet
Millions of yen

Level 1

Level 2

Level 3

Total

Consolidated
Balance
Sheet Amount

¥―
―

¥―
―

¥3,774,246
22,769¥3,774,246
22,769¥3,774,285
22,769¥(38)―

800,448――
1,114,660――

800,448
1,114,660

799,305
1,248,883
88,687,155

1,142(134,222)―¥800,448

20,970¥1,135,630

89,348,456¥93,145,471

89,369,426¥95,081,550(626,889)
88,060,266¥93,905,509

1,309,160¥1,176,041

¥―
―
―
―
¥―

¥150,461,962
13,787,052
4,028,301
9,635,498¥177,912,814¥――
100,302
956,983¥1,057,286¥150,461,962
13,787,052
4,128,604
10,592,482¥178,970,100¥150,498,976
13,788,347
4,155,480
11,148,376¥179,591,181¥(37,013)(1,295)(26,876)(555,894)¥(621,080)

Difference

Fair Value
As of March 31, 2023

Other Debt Purchased
Money Held in Trust
Securities
Bonds Held to Maturity
Japanese Government Bonds
Foreign Bonds
Loans and Bills Discounted
Reserves for Possible Losses on
Loans(*)
Total Assets
Deposits
Negotiable Certificates of Deposit
Borrowed Money
Bonds and Notes
Total Liabilities

Difference

Millions of yen

Level 1

Level 2

Level 3

Total

Consolidated
Balance
Sheet Amount¥――¥10,545―¥3,407,848
24,195¥3,418,393
24,195¥3,418,350
24,195¥43―

485,081――980,495――

485,081980,495

479,979
1,037,603
84,736,280

5,101(57,108)―¥485,081

60,648¥1,051,689

85,289,931¥88,721,975

85,350,580¥90,258,745(647,394)
84,088,886¥89,049,015

1,261,694¥1,209,730

¥―
―
―
―
¥―

¥138,806,794
16,867,782
6,482,699
9,323,040¥171,480,316¥――
91,117
1,068,015¥1,159,132¥138,806,794
16,867,782
6,573,816
10,391,055¥172,639,449¥138,830,872
16,868,931
6,590,527
10,538,471¥172,828,802¥(24,077)(1,149)(16,711)(147,415)¥(189,353)

Fair Value
As of March 31, 2022

Other Debt Purchased
Money Held in Trust
Securities
Bonds Held to Maturity
Japanese Government Bonds
Foreign Bonds
Loans and Bills Discounted
Reserves for Possible Losses on
Loans(*)
Total Assets
Deposits
Negotiable Certificates of Deposit
Borrowed Money
Bonds and Notes
Total Liabilities－ 68 －

Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Thousands of U.S. dollars

Level 1

Level 2

Level 3

Total

Consolidated
Balance
Sheet Amount

$－
－

$－
－

$28,263,038
170,507$28,263,038
170,507$28,263,330
170,507$(292)

5,994,069－－

8,347,014－－

5,994,069
8,347,014

5,985,512
9,352,128
664,124,275

8,557(1,005,114)－

157,035$8,504,049

669,076,354$697,509,899

669,233,389$712,008,017$－ $1,126,718,304
103,242,864－
30,165,502－
72,154,401－$－ $1,332,281,071$－－$1,126,718,304
103,242,864
30,916,609
79,320,670$1,340,198,447

Fair Value
As of March 31, 2023

Other Debt Purchased
Money Held in Trust
Securities
Bonds Held to Maturity
Japanese Government Bonds
Foreign Bonds
Loans and Bills Discounted
Reserves for Possible Losses on
Loans(*)
Total Assets
Deposits
Negotiable Certificates of Deposit
Borrowed Money
Bonds and Notes
Total Liabilities$5,994,069

751,107
7,166,269$7,917,376(4,694,394)
659,429,881$703,201,358

Difference－

9,803,508$8,806,659$1,126,995,477$(277,173)
103,252,569(9,705)
31,117,874(201,265)
83,483,425 (4,162,755)$1,344,849,345 $(4,650,898)(*) General and specific reserves for possible losses on loans relevant to Loans and Bills Discounted are excluded. Items
other than Loans and Bills Discounted are recorded at the consolidated balance sheet amounts due to immateriality of theirreserves.

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Financial Instruments (2)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(Note 1) Explanation of valuation techniques and valuation inputs used in fair value measurements
AssetsOther Debt Purchased
Fair values of securitized products of other debt purchased are based on the values deemed as market prices
obtained by the model such as those obtained from brokers and financial information vendors and are categorized as
Level 3 when significant unobservable valuation inputs are used for the obtained price and as Level 2 when other
inputs are used.
With respect to other debt purchased other than those described above, when the present values of the expected
future cash flows are considered to be fair values, those other debt purchased are mainly categorized as Level 3
since the discount rate and other significant valuation inputs are unobservable. When those are short term in natureand the book values are considered to be fair values, those other debt purchased are categorized as Level 3
Trading Assets
Fair values of trading assets for which unadjusted quoted market prices in active markets are available arecategorized as Level 1, which includes mainly government bonds.
In the case the market is inactive even if the quoted market price is available, those trading assets are categorized as
Level 2, which includes mainly local government bonds and corporate bonds.
When fair values are measured at the discounted cash flow method and others using significant unobservable inputs,
those trading assets are categorized as Level 3, which includes mainly bonds with warrants and trust beneficiaryrights.
Money Held in Trust
With respect to securities managed as trust assets in a directed money trust for separate investment with the
management of securities as its primary purpose, fair values of stocks are measured at the price in stock exchanges
and bonds are measured at market price or valuation price obtained from brokers or financial information vendors andare categorized as Level 2 or Level 3 based on the level of components.
The notes to Money Held in Trust based on holding purpose are stated in “42.Fair Value of Securities and Money
Held in Trust.”
Securities
Fair values of securities for which unadjusted quoted market prices in active markets are available are categorized as
Level 1 which includes mainly stocks and government bonds. In the case the market is inactive even if the quoted
market price is available, those securities are categorized as Level 2, which includes mainly local government bonds
and corporate bonds.
Fair values of investment trusts are measured at the market price or the disclosed net asset value and others. Thosefor which unadjusted quoted market prices in active markets are available are categorized as Level 1 and that are notavailable as Level 2. Additionally the investment trusts for which there are no transaction prices in markets with nosignificant limitations from market participants to demand compensation for the risk are valued using net asset value
and are categorized as Level 2.
Fair values of private placement bonds are measured by discounting the total amount of principal and interest andothers at interest rates based on the discount rate reflecting expected loss and various risk factors to market yield by
categories based on the internal ratings and terms and are categorized as Level 3 when the impact fromunobservable valuation inputs is significant and as Level 2 when it is not significant.
Fair values of securitized products are based on valuations obtained from brokers and others, and on model-based
prices based on the reasonable estimates of our management. These are categorized as Level 3 when significant
unobservable valuation inputs are used and as Level 2 when other inputs are used. In deriving model-based prices
based on the reasonable estimates of our management mentioned above, we used the discounted cash flow method.
The price decision variables include default rates, recovery rates, prepayment rates, and discount rates.
The notes to Securities based on holding purpose are stated in “42.Fair Value of Securities and Money Held in Trust.”
Loans and Bills Discounted
Fair values of loans and bills discounted are mainly measured by discounting the total amount of principal and interest
and others at interest rates based on the discount rate reflecting expected loss and various risk factors by categories
according to the types, internal ratings and terms of the loans and bills discounted and are categorized as Level 3
since the discount rate is unobservable.
In addition, fair values of claims against bankrupt obligors, substantially bankrupt obligors, and intensive control
obligors whose bad debts are mainly measured at the present value of the expected future cash flows or the estimated－ 70 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

amounts calculated based on the recoverability from collateral and guarantees approximate the amount of claims andothers minus the amount of reserves for possible losses on loans in the consolidated balance sheet as of theconsolidated balance sheet date and those amount are considered to be fair values which are categorized as Level 3.
Among the loans and bills discounted, for those without a fixed maturity due to loan characteristics such as limiting
loans to within the value of pledged assets, book values are considered to be fair values since fair values are
expected to approximate book values based on the estimated loan periods, interest rates and other conditions. Fairvalues of those loans and bills discounted are categorized as Level 3.
Liabilities
Deposits and Negotiable Certificates of Deposit
For demand deposits, the payment amounts required on the consolidated balance sheet date (i.e., book values) areconsidered to be fair values.
In addition, fair values of time deposits and negotiable certificates of deposits are calculated by classifying thembased on their terms and by discounting the future cash flows. The discount rates used in such calculations are themarket interest rates. Since fair values of those whose deposit terms are short (i.e., within six months) approximatebook values, the book values are considered to be fair values and those fair values are categorized as Level 2.
Trading Liabilities and Other Liabilities
Fair values of trading liabilities and short positions in bonds included in other liabilities for which unadjusted quoted
market prices in active markets are available are categorized as Level 1, which includes mainly listed stocks andgovernment bonds.
In the case the market is inactive even if the quoted market price is available, those trading liabilities are categorized
as Level 2, which includes mainly corporate bonds.
When significant unobservable inputs are used, those trading liabilities are categorized as Level 3.
Borrowed Money
Fair values of borrowed money are measured mainly by discounting the total amount of the principal and interest ofsuch borrowed money classified by period lengths at the interest rates considered to be applicable to similar loans
and are categorized as Level 3 when the impact from unobservable valuation inputs is significant and as Level 2 when
it is not significant.
Bonds and Notes
With respect to bonds and notes issued by MHFG and its majority-owned consolidated subsidiaries and otherconsolidated subsidiaries, fair values of bonds and notes with market prices are measured at the market prices andfair values of those without market prices are calculated by discounting the total amount of the principal and interest at
the interest rates considered to be applicable to similar bonds and notes. Bonds and notes with market prices are
categorized as Level 2. Those without market prices are categorized as Level 3 when the impact from unobservablevaluation inputs is significant and as Level 2 when it is not significant.
Certain foreign subsidiaries have adopted the fair value option to bonds and notes issued by themselves, and the fairvalue is calculated based on the valuation model. When unobservable inputs are not used or the impact ofunobservable inputs is not material, those bonds and notes are categorized as Level 2. When significant
unobservable inputs are used, those bonds and notes are categorized as Level 3.
Derivative Transactions
Derivative transactions that can be measured at unadjusted quoted prices in active markets are categorized as Level1, which includes such transactions as bonds futures and interest rate futures.
However, since most derivative transactions are over-the-counter transactions and there are no quoted market prices,market values are measured using valuation techniques such as the discounted cash flow method and the BlackScholes model, depending on the type of transaction and the maturity period. The main inputs which are used inthose valuation techniques are interest rate, currency rate, volatility and others. In addition, price adjustments basedon credit risk of counterparty and credit risk of majority-owned consolidated subsidiaries and other consolidated
subsidiaries themselves and price adjustments for unsecured funding are made. When unobservable inputs are notused or impact of unobservable inputs are not material, those derivative transactions are categorized as Level 2,
which includes such transactions as plain vanilla interest rate swaps and foreign exchange forwards. When significant
unobservable inputs are used, those derivative transactions are categorized as Level 3, which includes transactions
such as commodity related transactions.

－ 71 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(Note 2)Information relating to fair values of Level 3 among the financial instruments recorded at fair value in the
consolidated balance sheet(1) Quantitative information of significant unobservable valuation inputs

As of March 31, 2023

Other Debt Purchased
Securitized products

Principal valuation
techniqueSignificant
unobservablevaluation input

Range of valuation
input

Discounted cash
flow method

Prepayment rate
Default rate
Discount rate

0.1％－17.5％
0.0％－2.2％
0.3％－1.6％

4.3％
0.1％
0.4％

Discounted cash
flow method

Discount rate

1.1％－1.7％

1.3％

Discounted cash
flow method

Discount rate

0.4％－5.7％

2.2％

Discounted cash
flow method

Prepayment rate
Default rate
Recovery rate
Discount rate

21.7％
0.1％
40.5％
0.9％－2.0％

21.7％
0.1％
40.5％
1.1％

Discounted cash
flow method

Discount rate

0.0％－1.4％

0.1％

Option valuationmodel

IR – IR correlation

23.1％－100.0％―

FX – IR correlation
FX – FX correlation
Equity – IR
correlation
Equity – FX
correlation
Equity correlation
Equity volatility

5.4％－58.1％
39.0％－64.7％

―
―

25.0％

―

(16.3)％－93.2％―

3.2％－100.0％
5.9％－180.7％――

Weighted average

Trading Assets
Trading Securities
Securities
Japanese Corporate Bonds
Private placement bonds
Foreign Bonds
Securitized products

Other
Derivative Transactions
Interest Rate and Bond-Related
Transactions
Currency-Related Transactions

Option valuation
model

Stocks-Related Transactions
Option valuation
model

Commodity-Related Transactions

Option valuation
model

Commodity volatility

19.9％－54.4％―

Credit Derivative Transactions

Discounted cash
flow method

Default rate
Credit correlation

0.0％－13.0％
47.5％－100.0％――－ 72 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

As of March 31, 2022

Other Debt Purchased
Securitized products

Principal valuation
techniqueSignificant
unobservablevaluation input

Range of valuation
input

Discounted cash
flow method

Prepayment rate
Default rate
Discount rate

0.3％－18.1％
0.0％－0.4％
0.3％－1.6％

5.7％
0.0％
0.5％

Discounted cash
flow method

Discount rate

0.7％－3.4％

1.2％

Discounted cash
flow method

Discount rate

0.4％－5.8％

2.3％

Discounted cash
flow method

Prepayment rate
Default rate
Recovery rate
Discount rate

5.7％－24.4％
0.2％－59.6％
10.0％－39.7％
0.3％－1.0％

24.3％
0.7％
39.4％
0.4％

Discounted cash
flow method

Discount rate

0.0％－4.4％

0.3％

Option valuationmodel

IR – IR correlation

23.1％－100.0％―

FX – IR correlation
FX – FX correlation
Equity – IR
correlation
Equity – FX
correlation
Equity correlation
Equity volatility

11.3％－52.3％
41.3％－64.8％

―
―

25.0％

―

(16.9)％－16.8％―

3.2％－100.0％
8.7％－120.5％――

Weighted average

Trading Assets
Trading Securities
Securities
Japanese Corporate Bonds
Private placement bonds
Foreign Bonds
Securitized products

Other
Derivative Transactions
Interest Rate and Bond-Related
Transactions
Currency-Related Transactions

Option valuation
model

Stocks-Related Transactions
Option valuation
model

Commodity-Related Transactions

Option valuation
model

Commodity volatility

0.0％－89.3％―

Credit Derivative Transactions

Discounted cash
flow method

Default rate
Credit correlation

0.0％－8.0％
18.5％－100.0％――－ 73 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(2) Adjustment sheet from beginning balance to ending balance as of period and unrealized gains (losses) recognized asgains (losses) for the period
Millions of yen
Unrealized
gains(losses)
on financial
assets andliabilities
held as of
Net amountTransfer to Transfer fromtheEndingof purchase,fair values fair values of
consolidated
Recorded tobalance assale, issue,
Recorded toof Level 3
Level 3balanceotherof period
andgains(losse
(*3)
sheet
comprehensi
settlements) for thedate among
ve incomeperiod (*1)
the amount(*2)
recorded to
gains(losses)
for the period(*1)
Gains(losses) for theperiod/ othercomprehensive income

Beginningbalance

As of March 31, 2023

Other Debt Purchased
Trading Assets
Trading Securities
Japanese
Corporate Bonds
StocksOther
Money Held in Trust
Securities
Other Securities
StocksJapanese
Corporate Bonds
Foreign Bonds
Other
Trading Liabilities
Securities Sold,
Not yet Purchased
Bonds and Notes
Derivative Transactions
Interest Rate andBond-Related
Transactions
Currency-Related
Transactions
Stocks-Related
Transactions
Commodity-Related
Transactions
Credit Derivative
Transactions¥17,908

¥(2)

¥(89)

¥(4,744)¥―¥―¥13,071

¥―

0

0

―

―

―

―

0

45

190

350

―

(524)

―

―

16

(328)

19,245

527

―

6,725

1,956

(993)

27,461

(576)

4

0

―

0

―

―

4

―

10,161

―

54

(254)

―

―

9,962

―

236,037(1,080)

4,397(24,889)

44,367(64,465)

194,367―

145,936

8,222

(972)

(7,566)―(65,484)

80,134―16,082

1,453

1,806

(2,936)――

16,404

227

―

(28)

―

326

80

―

378

(35)

1,559

(225)

―

―

―

―

1,334

(58)

53,63442,919

―

9,786

―

―

106,340

49,76533,008(4,986)―(11,981)――

16,041(3,557)53,726(25,416)―

24,304――

52,615

26,902

653

1,448

―

121

―

―

2,223

1,831

1,919

283

―

(374)

(266)

223

1,785

(31)

(*1)Those amounts are included in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income in the consolidated statement ofcomprehensive income.
(*3)Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs which are used in fair value measurements based onmarket liquidity. The transfer was made on the beginning of the accounting period.
(*4)Those are the transfers from Level 3 to Level 2, mainly due to the fact that the discount rate which is used in fair value measurement of the private
placement bonds was determined to be immaterial by quantitative sensitivity analysis. The transfer was made on the beginning of the accounting period.

－ 74 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Millions of yen
Unrealized
gains(losses)
on financial
assets andliabilities
held as of
Net amountTransfer to Transfer fromtheEndingof purchase,fair values fair values of
consolidated
Recorded tobalance assale, issue,
Recorded toof Level 3
Level 3balanceotherof period
andgains(losse
(*3)
sheet
comprehensi
settlements) for thedate among
ve incomeperiod (*1)
the amount(*2)
recorded to
gains(losses)
for the period(*1)
Gains(losses) for theperiod/ othercomprehensive income

Beginningbalance

As of March 31, 2022

Other Debt Purchased
Trading Assets
Trading Securities
Japanese
Corporate Bonds
StocksOther
Money Held in Trust
Securities
Other Securities
StocksJapanese
Corporate Bonds
Foreign Bonds
Other
Trading Liabilities
Securities Sold,
Not yet Purchased
Bonds and Notes
Derivative Transactions
Interest Rate andBond-Related
Transactions
Currency-Related
Transactions
Stocks-Related
Transactions
Commodity-Related
Transactions
Credit Derivative
Transactions¥636,815¥(3)¥(103)¥(618,800)¥―¥―¥17,908

¥―

1,897

(0)

―

(1,897)

―

―

0

―

―

190

(354)

(31,450)

19,245

341

―

4

―

223

(33)

―

―

130,532

631

263(80,731)

3

0

―

0

―
―
―

8,063

―

168

1,929

―

―

10,161―

2,107,142

611

4,063

(280,310)―(1,595,468)

236,037―

773,659

48,769(1,802)(393,533)(281,156)

145,936―

13,920

524

1,545

91

―
―

―

16,082

127

132

―

―

(132)

―

―

―

―

―

―

―

1,559

―

―

1,559

―

24,942

16,040―12,651――

53,634

24,77624,857

7,073

―

1,077

―

―

33,008

7,865

3,444

20,683―29,603(3)―

53,72657,396

841

562

―

(750)

―

―

653

280

1,251

(1,249)

―

2,218

(259)

(42)

1,919

1,077

(*1)Those amounts are included in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income in the consolidated statement ofcomprehensive income.
(*3)Those are the transfers from Level 3 to Level 2, mainly, ¥28,717 million of Trading Securities in Trading Assets, ¥1,595,468 million of Japanese Corporate
Bonds in Other Securities and ¥277,104 million of Foreign Bonds in Other Securities were transferred for the following reasons. The transfer was made on
the beginning of the accounting period. After the increase in uncertainty in the financial instruments market due to the spread of COVID 19, liquidity as wellas price transparency has increased due to the recent increase in the issuance and trading volume of securities in the financial instruments market. In linewith these increases, from the current fiscal year, MHFG has been refining governance regarding the level classification of fair value by reviewing its internal
structure and introducing new tools. In accordance with this, MHFG is expanding its observable market data by conducting additional research on theavailability of observable market data used in the calculation or verification of fair value and by evaluating the reliability of new market data obtained. In
addition, MHFG is refining its methods and criteria for evaluating the materiality of inputs. Assessing the significancy of an input requires management's－ 75 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

judgment based on the fair value measurement. Prior to the previous fiscal year, inputs to the valuation model were evaluated as significant inputs in thelevel classification of the fair value of a particular security. As a result of the enhancement of the governance, for Trading Securities and Japanese Corporate
Bonds, by applying a quantitative sensitivity analysis to discount rates, which are mainly unobservable inputs, the methods and criteria for assessing thesignificancy of inputs to the calculation of fair value has been refined. For Foreign Bonds, we refined the methods and criteria of quantitative sensitivity
analysis to assess the significance of unobservable inputs, such as prepayment rate, default rate, and recovery rate. In addition, these methods and criteria
are periodically verified by the middle and back offices.

－ 76 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Thousands of U.S. dollars
Unrealized
gains(losses)
on financial
assets andliabilities
held as of
Net amountTransfer to Transfer fromtheEndingof purchase,fair values fair values of
consolidated
Recorded tobalance assale, issue,
Recorded toof Level 3
Level 3balanceotherof period
andgains(losse
(*3)
sheet
comprehensi
settlements) for thedate among
ve incomeperiod (*1)
the amount(*2)
recorded to
gains(losses)
for the period(*1)
Gains(losses) for theperiod/ othercomprehensive income

Beginningbalance

As of March 31, 2023

Other Debt Purchased
Trading Assets
Trading Securities
Japanese
Corporate Bonds
StocksOther
Money Held in Trust
Securities
Other Securities
StocksJapanese
Corporate Bonds
Foreign Bonds
Other
Trading Liabilities
Securities Sold,
Not yet Purchased
Bonds and Notes
Derivative Transactions
Interest Rate andBond-Related
Transactions
Currency-Related
Transactions
Stocks-Related
Transactions
Commodity-Related
Transactions
Credit Derivative
Transactions$134,103$(17)$(669)$(35,531)$―$―$97,886$―

145,539

6,574―

46,43814,652(7,438)205,765(6,437)

0

0

―

―

―

―

0

341

1,424

2,621

―

(3,924)――121(2,462)

144,116

3,953―

50,362

14,652(7,438)205,645(4,316)

32

3

―

1

―

―

36

―

3,056,896

64,36439,578(266,937)

332,242(973,119)

2,253,024

1,706

76,093―410(1,903)――74,600―1,767,545(8,089)32,927(186,380)

332,242(482,746)

1,455,499―

1,092,828

61,570(7,286)(56,660)―(490,373)

600,079―

120,431

10,883

13,526(21,993)――

122,847

1,706

―

(216)

―

2,448

602

―

2,834

(269)

11,677(1,686)

―

―

―

―

9,991

(441)

401,634

321,401―

73,284――

796,319372,664

247,182(37,340)―(89,719)――

120,123(26,641)

402,328(190,327)―

182,004――

394,005

201,460

4,895

10,849

―

907

―

―

16,651

13,717

14,3742,126―(2,802)(1,998)

1,671

13,371(233)(*1)Those amounts are included in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income in the consolidated statement ofcomprehensive income.
(*3)Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs which are used in fair value measurements based onmarket liquidity. The transfer was made on the beginning of the accounting period.
(*4)Those are the transfers from Level 3 to Level 2, mainly due to the fact that the discount rate which is used in fair value measurement of the private
placement bonds was determined to be immaterial by quantitative sensitivity analysis. The transfer was made on the beginning of the accounting period.

－ 77 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(3) Explanation of the process of fair value measurement
In MHFG, middle-offices and back-offices have established policies and procedures related to the measurement of fairvalues and procedures related to usage of the valuation model. For the fair values and the level categories, the validity ofthe valuation techniques and valuation inputs used in fair value measurement are verified.
In fair value measurement, valuation models in which the nature, characteristics and risks of individual assets are mostappropriately reflected are used. In addition, when quoted prices obtained from third parties are used, the validity of theprices is verified by appropriate methods such as confirmation of valuation techniques and used valuation inputs andcomparison with the fair values of similar financial instruments.
(4) Explanation of the impact on fair values in the case where significant unobservable inputs are varied
Prepayment rate
The prepayment rate is the estimated rate at which voluntary unscheduled repayments of the principal of theunderlying assets are expected to occur. The movement of the prepayment rate is generally negatively correlated withborrower delinquency. A significant change in the prepayment rate would generally significantly impact the valuationof the fair values of financial instruments either positively or negatively, depending on the structure of financial
instruments.
Default rate
The default rate is an estimate of the likelihood of not collecting contractual payments. A significant increase(decrease) in the default rate would generally be accompanied by a decrease (increase) in the recovery rate and anincrease (decrease) in the discount rate. It would also generally significantly impact the valuation of the fair values offinancial instruments negatively (positively).
Recovery rate
The recovery rate is an estimate of the percentage of contractual payments that would be collected in the event of a
default. A significant increase (decrease) in recovery rate would generally be accompanied by a decrease (increase)in the default rate. It would also generally significantly impact the valuation of the fair values of financial instruments
positively (negatively).
Discount rate
The discount rate is an adjustment rate to a benchmark market interest rate such as TIBOR or swap rates. It primarily
consists of a risk premium component which is the amount of compensation that market participants require due tothe uncertainty inherent in the financial instruments’ cash flows resulting from credit risk. A significant increase(decrease) in discount rate would generally significantly impact the valuation of the fair values of financial instruments
negatively (positively).
Correlation
Correlation is the likelihood of the movement of one input relative to another based on an established relationship. A
significant change in correlation would significantly impact the valuation of derivatives either positively or negatively,
depending on the nature of the underlying assets.
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, a significant increase(decrease) in volatility would result in a significant increase (decrease) in option values and, for a long position in an
option, it would result in a significant increase (decrease) in the fair values of financial instruments.

－ 78 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Note 3) The following are the consolidated balance sheet amounts of Stocks and others without a quoted market price, andInvestments in Partnerships and others. These amounts are not included in Money Held in Trust and Other
Securities in the tables disclosed in the Matters relating to fair value of financial instruments and breakdown of fairvalue by level.

Millions of yen
2023
2022
Consolidated Balance
Consolidated Balance
Sheet Amount
Sheet Amount

As of March 31,
Category

Stocks and others without a quoted market
*1
price
*2
Investments in Partnerships and others¥303,376
448,196

Thousands of U.S.
dollars2023
Consolidated Balance
Sheet Amount¥495,989
413,173$2,271,803
3,356,269*1

Stocks and others without a quoted market price include unlisted stocks and others and in accordance with Article 5 of “Implementation Guidance on
Disclosures about Fair Value of Financial Instruments” (ASBJ Guidance No.19, March 31, 2020), these items are not subject to disclosure of the fairvalue.
*2
Investments in Partnerships and others are mainly silent partnership, investment partnership, and money held in trust with the investment in a silent
partnership as the component of the trust property. In accordance with Article 24-16 of “Implementation Guidance on Accounting Standard for Fair
Value Measurement” (ASBJ Guidance No.31, June 17, 2021), these items are not subject to disclosure of the fair value.
3
During the fiscal years ended March 31, 2023 and 2022, the amounts of impairment (devaluation) were ¥1,287 million ($9,643 thousand) and ¥37,277
million, respectively, on a consolidated basis.

(Note 4) Projected redemption amounts after the consolidated balance sheet date for financial assets and securities withmaturities

Within 1 year

1-3 years

3-5 years

5-7 years

7-10 years

Millions of yen
Over 10 years

Due from Banks¥66,315,278
Other Debt Purchased
3,586,639
Securities
17,880,738
Bonds Held to Maturity
280,000
Japanese Government Bonds
280,000
Foreign Bonds―
Other Securities with Maturities
17,600,738
Japanese Government Bonds
14,272,729
Japanese Local Government
35,529
Bonds
Japanese Corporate Bonds
653,800
Foreign Bonds
2,630,445
Other
8,234
*1
32,753,371
Loans and Bills Discounted
Total¥120,536,028¥4,177135,135
2,933,185
100,000
100,000―
2,833,185
725,300¥―
53,764
1,774,986
90,00090,000―1,684,986
50,400¥―12,162
1,419,910
120,000
120,000―
1,299,910
673,200¥―
3,617
2,368,698
210,000
210,000―
2,158,698
576,600¥―
46,197
6,522,863
1,199,075―
1,199,075
5,323,788
100,000

As of March 31, 2023
Types of Financial Instruments

134,414
1,121,071
816,044
36,35521,711,103¥24,783,602－ 79 －

Financial Instruments (3)141,308
56,875587,318
204,861
477,751
313,914428,208
51,05914,414,415
7,152,739
16,243,167 ¥8,584,811

184,633
7,400
82,283604,369
1,274,298
4,498,075
40,882
113,9434,644,511
6,715,736¥7,016,827 ¥13,284,797

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）Within 1 year

1-3 years

3-5 years

5-7 years

7-10 years

Millions of yen
Over 10 years

Due from Banks¥50,119,503
Other Debt Purchased
3,219,604
Securities
22,191,138
Bonds Held to Maturity
100,000
Japanese Government Bonds
100,000
Foreign Bonds―
Other Securities with Maturities
22,091,138
Japanese Government Bonds
19,233,970
Japanese Local Government
27,226
Bonds
Japanese Corporate Bonds
442,905
Foreign Bonds
2,367,367
Other
19,668*1
31,739,518
Loans and Bills Discounted
Total¥107,269,765¥662
166,545
6,491,074
380,000
380,000―
6,111,074
3,623,810¥―
20,0181,880,973―――
1,880,973
518,800¥―
11,155
1,345,840―――
1,345,840
322,600¥―
3,581
2,896,332―――
2,896,332
1,316,000¥―
55,237
4,834,101
986,414―986,4143,847,686
105,000

As of March 31, 2022
Types of Financial Instruments

As of March 31, 2023
Types of Financial Instruments

Within 1 year

108,075
1,022,762
1,348,522
7,903
20,586,037¥27,244,319

1-3 years

112,026
28,054
676,728
286,116
358,489
677,158
214,928
31,911
12,913,929
6,870,077¥14,814,921 ¥8,227,072

3-5 years

5-7 years

Due from Banks$496,594,865$31,281$―$―
Other Debt Purchased
26,858,170
1,011,951
402,61091,077
Securities
133,897,998
21,964,849
13,291,798 10,632,846
Bonds Held to Maturity
2,096,750
748,839
673,955
898,607
Japanese Government Bonds
2,096,750
748,839
673,955
898,607
Foreign Bonds――――
Other Securities with Maturities 131,801,248
21,216,010
12,617,843
9,734,239
Japanese Government Bonds 106,879,806
5,431,332
377,415
5,041,186
Japanese Local Government
266,060
1,006,550
1,058,171
425,905
Bonds
Japanese Corporate Bonds
4,895,912
8,395,020
4,398,073
1,534,080
Foreign Bonds
19,697,808
6,110,863
3,577,591
2,350,713
Other
61,662
272,245
3,206,593
382,355*1
245,270,120 162,581,278 107,940,811 53,562,522
Loans and Bills Discounted
Total$902,621,153 $185,589,359 $121,635,219 $64,286,445*1

138,722
7,400
98,088528,057
1,298,492
3,109,999
45,03097,2304,671,327
6,616,495¥7,571,242 ¥11,505,834
Thousands of U.S. dollars
7-10 years Over 10 years$―
27,092
17,737,747
1,572,563
1,572,563―
16,165,184
4,317,807$―
345,944
48,845,765
8,979,145―
8,979,145
39,866,620
748,839

1,382,611
55,414
616,173
4,525,753
9,542,446 33,683,358
306,147
853,256
34,779,926 50,290,072$52,544,765 $99,481,781

Amounts do not include loans to bankrupt, substantially bankrupt, and intensive control obligors and other loans, of which redemption amounts cannot be
projected, of ¥662,585 million ($4,961,704 thousand) and ¥729,112 million, and loans with no maturities of ¥632,691 million ($4,737,843 thousand) and¥609,782 million as of March 31, 2023 and 2022, respectively.
2
Financial assets, which all of the balance are constantly redeemed within one year, is omitted.

－ 80 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Note 5) Projected repayment amounts after the consolidated balance sheet date for Bonds and Notes, Borrowed Money,
and other interest-bearing liabilities
As of March 31, 2023
Types of Financial Instruments*1

Within 1 year

1-3 years

3-5 years

5-7 years

7-10 years

Millions of yen
Over 10 years

Deposits
Negotiable Certificates of
Deposit*2
Borrowed Money*2
Bonds and Notes
Total¥147,305,953¥2,393,806¥578,303¥24,321¥59,848¥136,742

13,247,654
1,118,801
968,328¥162,640,738

546,3142,267,136
2,215,146¥7,422,403―
249,9962,308,109¥3,136,409―
106,531
1,309,057¥1,439,910―
193,151
1,863,867¥2,116,867―
189,863
1,236,675¥1,563,281

As of March 31, 2022
Types of Financial Instruments

Within 1 year

1-3 years

3-5 years

5-7 years

7-10 years

Millions of yen
Over 10 years¥135,508,160¥2,525,914¥608,536¥32,962¥34,476¥120,821

16,290,438
5,592,436
1,329,419¥158,720,455

578,589
221,991
2,383,399¥5,709,895

500
330,332
1,673,672¥2,613,042―
89,576
972,823¥1,095,361―
142,220
1,847,996¥2,024,693―
183,970878,693¥1,183,484

Within 1 year

1-3 years

3-5 years

5-7 years

Thousands of U.S. dollars
7-10 years
Over 10 years$1,103,084,871$17,925,761$4,330,560$182,132$448,170$1,023,983

99,203,643
8,378,026
7,251,223$1,217,917,763

4,091,020
16,977,206
16,587,889$55,581,876―
1,872,073
17,284,033$23,486,666―
797,750
9,802,736$10,782,618―
1,446,396
13,957,373$15,851,939―
1,421,771
9,260,714$11,706,468*1

Deposits
Negotiable Certificates of
Deposit*2
Borrowed Money*2
Bonds and Notes
Total
As of March 31, 2023
Types of Financial Instruments*1

Deposits
Negotiable Certificates of
Deposit*2
Borrowed Money*2
Bonds and Notes
Total
*1

Demand deposits are included in “Within 1 year.”Amounts do not include Borrowed Money with no maturities of ¥30,000 million ($224,652 thousand) and ¥30,000 million, and Bonds and Notes with nomaturities of ¥1,470,004 million ($11,007,968 thousand) and ¥1,628,000 million as of March 31, 2023 and 2022, respectively.
3Interest-bearing liabilities, which all of the balance are constantly paid within one year, is omitted.

*2－ 81 －

Financial Instruments (3)2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）42. Fair Value of Securities and Money Held in Trust
The following tables contain information relating to “Securities,” Trading Securities, Short-term Bonds, certain other items in“Trading Assets,” Negotiable Certificates of Deposit in “Cash and Due from Banks,” certain items in “Other Debt Purchased,”certain items in “Other Assets,” and “Money Held in Trust.”
Millions of yen

As of March 31, 2023

Bonds Held-to-Maturity (Total)
Bonds Whose Fair Values Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds
Bonds Whose Fair Values Do Not Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds

Consolidated
Balance
Sheet Amount

Fair value

Difference¥2,048,188¥1,915,108¥(133,080)¥613,992
499,834
114,157¥616,531
502,005
114,526¥2,5382,170
368¥1,434,196
299,470
1,134,725¥1,298,577
298,443
1,000,134¥(135,618)(1,027)(134,591)
Millions of yen

As of March 31, 2022

Bonds Held-to-Maturity (Total)
Bonds Whose Fair Values Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds
Bonds Whose Fair Values Do Not Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds

Consolidated
Balance
Sheet Amount

Fair value

Difference¥1,517,583¥1,465,576¥(52,007)¥546,328
479,979
66,348¥551,665
485,081
66,584¥5,336
5,101
235¥971,254―
971,254¥913,911―
913,911¥(57,343)―(57,343)

Thousands of U.S. dollars

As of March 31, 2023

Bonds Held-to-Maturity (Total)
Bonds Whose Fair Values Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds
Bonds Whose Fair Values Do Not Exceed the Consolidated
Balance Sheet Amount Bonds Held-to-Maturity:
Japanese Government Bonds
Foreign Bonds－ 82 －

Fair Value of Securities and Money Held in Trust

Consolidated
Balance
Sheet Amount

Fair value

Difference$15,337,640$14,341,083$(996,557)$4,597,816
3,742,957
854,859$4,616,827
3,759,211
857,616$19,011
16,254
2,757$10,739,824
2,242,555
8,497,269$9,724,256
2,234,859
7,489,397$(1,015,568)(7,696)(1,007,872)

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Millions of yen

As of March 31, 2023

Other Securities (Total)
Other Securities Whose Consolidated Balance Sheet
Amount Exceeds Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Other Securities Whose Consolidated Balance Sheet
Amount Does Not Exceed Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Money Held in Trust
Other Money Held in Trust－ 83 －

Fair Value of Securities and Money Held in Trust

Consolidated
Balance
Sheet Amount

Acquisition Cost

¥34,403,458¥33,613,602¥789,855¥17,979,832
2,366,271
13,082,946
11,884,984
61,954
1,136,007
2,530,613
2,197,042
6,698
326,872¥16,383,529
817,808
13,068,506
11,881,113
61,757
1,125,635
2,497,215
2,182,254
6,627
308,332¥1,596,302
1,548,463
14,4403,871
197
10,37133,39814,78870
18,539¥16,423,626
149,451
7,156,350
4,564,308
492,7072,099,334
9,117,824
7,357,464
40,763
1,719,596¥17,230,072
179,532
7,232,283
4,600,151
498,335
2,133,797
9,818,256
7,952,943
41,628
1,823,684¥(806,446)(30,081)(75,933)(35,842)(5,627)(34,463)(700,432)(595,479)(865)(104,087)¥27,418¥27,418¥―

Difference*2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Millions of yen

As of March 31, 2022

Other Securities (Total)
Other Securities Whose Consolidated Balance Sheet
Amount Exceeds Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Other Securities Whose Consolidated Balance Sheet
Amount Does Not Exceed Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Money Held in Trust
Other Money Held in Trust－ 84 －

Fair Value of Securities and Money Held in Trust

Consolidated
Balance
Sheet Amount

Acquisition Cost

¥42,065,723¥41,075,538¥990,184¥16,737,667
2,408,701
12,501,867
11,216,392
51,351
1,234,123
1,827,098
1,101,304
28,100697,693¥15,143,882
870,310
12,482,067
11,208,896
51,097
1,222,073
1,791,504
1,098,988
27,907
664,608¥1,593,785
1,538,391
19,7997,495
253
12,05035,5932,316
193
33,084¥25,328,055
168,608
16,118,546
13,942,337
368,294
1,807,913
9,040,901
7,836,289
29,5701,175,040¥25,931,656
207,083
16,190,532
13,980,376
370,460
1,839,695
9,534,039
8,252,899
29,882
1,251,258¥(603,600)(38,475)(71,986)(38,039)(2,165)(31,781)(493,138)(416,609)(311)(76,217)¥26,556¥26,556¥―

Difference*2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Thousands of U.S. dollars

As of March 31, 2023

Other Securities (Total)
Other Securities Whose Consolidated Balance Sheet
Amount Exceeds Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Other Securities Whose Consolidated Balance Sheet
Amount Does Not Exceed Acquisition Cost
Other Securities:
Japanese Stocks
Japanese Bonds:
Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other
Money Held in Trust
Other Money Held in Trust*

Consolidated
Balance
Sheet Amount

Acquisition Cost

$257,626,618$251,711,868$5,914,750$134,640,049
17,719,570
97,970,249
88,999,435
463,9438,506,871
18,950,230
16,452,321
50,161
2,447,748$122,686,311
6,124,069
97,862,113
88,970,446
462,4658,429,202
18,700,129
16,341,580
49,633
2,308,916$11,953,738
11,595,501
108,136
28,9891,478
77,669250,101
110,741528
138,832$122,986,569
1,119,149
53,589,567
34,179,339
3,689,590
15,720,638
68,277,853
55,095,587
305,249
12,877,017$129,025,557
1,344,408
54,158,184
34,447,741
3,731,732
15,978,711
73,522,965
59,554,768
311,731
13,656,466$(6,038,988)(225,259)(568,617)(268,402)(42,142)(258,073)(5,245,112)(4,459,181)(6,482)(779,449)$205,318$205,318$―

Difference*

Unrealized Gains (Losses) or Difference include gains (losses) of ¥36,513 million ($273,429 thousand) and ¥27,448 million which were recognized in thestatements of income for the fiscal years ended March 31, 2023 and 2022, respectively, by applying the fair-value hedge method.

Note: A summary of Trading Securities and Money Held in Trust for investment purposes and related unrealized gains and*losses recognized in the statement of income are as follows:
Millions of yen
Unrealized
gains (losses)

Unrealized
gains (losses)

Thousands of U.S. dollars
2023
Unrealized
gains (losses)¥5,700¥1,115$42,684
Thousands of U.S. dollars
2023
Unrealized
Fair value gains (losses)2023
As of March 31,

Trading Securities

2022

Millions of yen
2023

2022

As of March 31,

Fair value

Unrealized
gains (losses)

Fair value

Unrealized
gains (losses)

Money Held in Trust for
Investment¥487,188¥1,911¥564,626¥1,282*

Fair values of trading securities as of March 31, 2023 and 2022 are described in “41. Financial Instruments.”－ 85 －

Fair Value of Securities and Money Held in Trust$3,648,262$14,317

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Other Securities Sold during the Fiscal Year
Millions of yen
Total amount Total amount
Proceedsof gainsof losses
from sales
on saleson sales

For the Fiscal Year ended March 31,
2023

Stocks
Bonds
Japanese Government Bonds
Japanese Local
Government Bonds
Japanese Corporate Bonds
Other
Total

¥435,298
36,761,592
36,676,081¥140,858
23,14821,088¥43,247
20,25820,205$3,259,686
275,285,250
274,644,912$1,054,805
173,344
157,916$323,856
151,704
151,306

154
85,355
9,044,465¥46,241,356―
2,060
52,338¥216,345―
53
341,584¥405,090

1,159
639,179
67,728,510$346,273,446―
15,428391,933$1,620,082―
398
2,557,919$3,033,479

Millions of yen
Total amount Total amount
Proceedsof gainsof losses
from sales
on saleson sales

For the Fiscal Year ended March 31,
2022

Stocks
Bonds
Japanese Government Bonds
Japanese Local
Government Bonds
Japanese Corporate Bonds
Other
Total

Thousands of U.S. dollars
Total amount Total amount
Proceedsof gainsof losses
from sales
on saleson sales¥201,691
35,721,086
35,165,833¥200,813
15,044
7,750¥171,872
15,882
15,740164,617
390,634
21,567,729¥57,490,507

406
6,887
108,409¥324,267130
11
237,885¥425,640

Unrealized Gains/Losses on Other Securities
Unrealized Gains/Losses on Other Securities as of March 31, 2023 and 2022 are as follows:

2022

Thousands of
U.S. dollars
2023¥766,165
766,165(188,935)
577,230
14,549¥993,341
993,341(259,318)
734,022
17,417$5,737,349
5,737,349(1,414,820)
4,322,529
108,949

1,813¥564,495

3,216¥719,822

13,582$4,227,162

Millions of yen
2023

As of March 31,*1

Difference between Acquisition Cost and Fair Value*2
Other Securities
Deferred Tax Liabilities
Difference between Acquisition Cost and Fair Value, net of Taxes
Amount Corresponding to Non-controlling Interests
Amount Corresponding to Net Unrealized Gains (Losses) on Other
Securities Owned by Affiliated Companies, which is
attributable to MHFGNet Unrealized Gains (Losses) on Other Securities*1

The difference between acquisition cost and fair value excludes ¥(36,513) million ($(273,429) thousand) and ¥(27,448) million which were recognized in thestatements of income for the fiscal years ended March 31, 2023 and 2022, respectively, by applying the fair-value hedge method.
*2
Other Securities includes translation differences regarding Stocks and others without a quoted market price and Investments in Partnerships and others.

－ 86 －

Fair Value of Securities and Money Held in Trust2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

43. Derivatives Information
The fair value of derivatives not qualifying for hedge accounting and derivatives qualifying for hedge accounting as ofMarch 31, 2023 and 2022 is shown in the tables below. In the following tables:
Contract value represents notional amounts for swap transactions and contract amounts for other transactions.
Contract value amounts do not indicate the market risk related to derivative transactions.

(1) Derivative Transactions not Qualifying for Hedge Accounting
Transactions are marked to market, and changes in unrealized gains (losses) are included in the consolidated statementof income.
(a) Interest Rate and Bond-Related Transactions
Millions of yen
As of March 31, 2023

Listed:Interest Rate Futures:
Sold
BoughtInterest Rate Options:
Sold
BoughtBond Futures:
Sold
BoughtBond Futures Options:
Sold
BoughtOver-the-Counter:
FRAs:
Sold
BoughtInterest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Receive Float / Pay Float
Receive Fixed / Pay Fixed
Interest Rate Options:
Sold
BoughtBond Options:
Sold
BoughtBond Other:
Sold
BoughtInter-company or Internal Transactions:Interest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Total

Contract value
Total
Over one year

Unrealized
gains (losses)¥55,336,700
77,861,355¥29,080,624
48,995,257¥43,42962,030¥43,42962,03039,158,828
32,020,537

―
4,832

(4,457)
3,507

274
(364)

711,933
378,185――(8,248)3,286(8,248)3,286

14,415397,112

―
―

(23)
301

(23)
(743)

43,239,019
41,497,899

2,590,083
2,365,476(200,437)
179,470(200,437)
179,470

710,226,104
704,431,927
217,368,629
342,924

561,108,502
549,848,401
119,663,951
327,685(4,957,290)
4,843,451
73,958
10,299(4,957,290)
4,843,451
73,958
10,29927,094,067
26,566,635

16,860,933
15,972,893(114,735)
169,959(114,735)
169,959

766,239766,239

―
―

(900)
1,809

20
805

3,186
6,240

―
―

(45)
65

(45)
65

4,946,531
10,728,676/

4,286,590
8,930,103/(26,956)
436,369¥514,844(26,956)
436,369¥514,575－ 87 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Millions of yen
As of March 31, 2022

Listed:Interest Rate Futures:
Sold
BoughtInterest Rate Options:
Sold
BoughtBond Futures:
Sold
BoughtBond Futures Options:
Sold
BoughtOver-the-Counter:
FRAs:
Sold
BoughtInterest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Receive Float / Pay Float
Receive Fixed / Pay Fixed
Interest Rate Options:
Sold
BoughtBond Options:
Sold
BoughtBond Other:
Sold
BoughtInter-company or Internal Transactions:Interest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Total

Contract value
Total
Over one year

Unrealized
gains (losses)¥28,177,021
38,086,337¥18,606,057
18,366,364¥89,540(89,084)¥89,540(89,084)

7,499,613
7,814,127

33,810209,740(4,599)5,676(1,623)
2,420

343,425
773,542―
263,220

2,489(3,733)

2,489(3,733)

9,009
9,773

―
―

(11)
15

5
(5)

7,040,801
7,147,123

1,359―

54,903(47,387)

54,903(47,387)

506,278,833
502,041,404
246,369,987
291,424

388,126,018
384,679,941
122,390,266
231,213(1,408,308)
1,397,275
7,197
3,837

(1,408,308)
1,397,275
7,197
3,837

17,626,900
17,712,467

12,420,586
12,307,041(141,524)
118,749(141,524)
118,749

164,993
162,394

―
―

(537)
606

(36)
114

4,241
11,492

―
―

(44)
88

(44)
88

5,851,762
6,649,534/

4,788,302
5,635,375/(93,385)
175,272¥67,036(93,385)
175,272¥66,761－ 88 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Thousands of U.S. dollars
As of March 31, 2023

Listed:Interest Rate Futures:
Sold
BoughtInterest Rate Options:
Sold
BoughtBond Futures:
Sold
BoughtBond Futures Options:
Sold
BoughtOver-the-Counter:
FRAs:
Sold
BoughtInterest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Receive Float / Pay Float
Receive Fixed / Pay Fixed
Interest Rate Options:
Sold
BoughtBond Options:
Sold
BoughtBond Other:
Sold
BoughtInter-company or Internal Transactions:Interest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Total

Contract value
Total
Over one year

Unrealized
gains (losses)$414,382,962
583,056,430$217,767,143
366,895,741$325,220464,509$325,220464,509293,236,698
239,782,371―
36,188(33,381)
26,262

2,056(2,733)5,331,239
2,832,000――(61,770)
24,610(61,770)
24,610107,950
2,973,733

―
―

(177)
2,260

(177)
(5,571)

323,790,768
310,752,583

19,395,566
17,713,616(1,500,958)
1,343,947(1,500,958)
1,343,947

5,318,452,184
5,275,063,107
1,627,741,722
2,567,952

4,201,800,980
4,117,480,916
896,090,693
2,453,840(37,122,140)
36,269,669
553,830
77,129(37,122,140)
36,269,669
553,830
77,129202,891,027
198,941,408

126,261,298
119,611,305(859,187)
1,272,727(859,187)
1,272,727

5,737,905
5,737,905――(6,741)
13,553

157
6,031

23,85946,731

―
―

(339)
488

(339)
488

37,041,572
80,340,543/

32,099,676
66,872,127/(201,859)
3,267,703$3,855,355(201,859)
3,267,703$3,853,342－ 89 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(b) Currency-Related Transactions
Millions of yen
As of March 31, 2023

Listed:Futures:
Sold
BoughtOver-the-Counter:
Swaps
Forwards:
Sold
BoughtOptions:
Sold
BoughtInter-company or Internal Transactions:
Swaps
Forwards:
BoughtTotal

Contract value
Total
Over one year

Fair value

Unrealized
gains (losses)¥54,992
153,513¥―28,525¥――¥――

101,803,817

76,162,544

221,551

177,71390,571,040
46,851,140

6,268,422
2,438,993(197,508)
213,877(197,508)
213,877

5,303,482
5,283,561

2,494,931
2,406,722(128,708)
70,020(75,733)
4,297

3,839,109

3,222,519

259,825

11,189

387
/

―
/

12
¥439,070

12¥133,848
Millions of yen

As of March 31, 2022

Listed:Futures:
Sold
BoughtOver-the-Counter:
Swaps
Forwards:
Sold
BoughtOptions:
Sold
BoughtInter-company or Internal Transactions:
Swaps
Forwards:
BoughtTotal

Contract value
Total
Over one year

Unrealized
gains (losses)¥17,763
107,999¥2,99748,506¥――¥――

84,601,373

65,094,808

74,412

111,140

74,056,476
46,362,654

4,921,374
2,848,949(1,458,262)
1,377,595(1,458,262)
1,377,595

3,797,000
3,697,968

1,789,884
1,721,075(130,200)
79,187(87,402)
23,5583,792,499

2,663,798

219,192

559

1,526
/

―
/

80
¥162,006

80¥(32,731)－ 90 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Thousands of U.S. dollars
As of March 31, 2023

Listed:Futures:
Sold
BoughtOver-the-Counter:
Swaps
Forwards:
Sold
BoughtOptions:
Sold
BoughtInter-company or Internal Transactions:
Swaps
Forwards:
BoughtTotal

Contract value
Total
Over one year

Fair value

Unrealized
gains (losses)$411,802
1,149,566$―
213,608

$―
―

$―
―

762,346,995

570,335,067

1,659,065

1,330,789

678,231,547
350,839,750

46,940,414
18,264,139(1,479,024)
1,601,602(1,479,024)
1,601,602

39,714,563
39,565,384

18,683,026
18,022,484(963,824)
524,342(567,119)
32,18028,748,758

24,131,495

1,945,677

83,788

2,899
/

―
/

94
$3,287,932

93$1,002,309(c) Stock-Related Transactions
Millions of yen
As of March 31, 2023

Listed:Index Futures:
Sold
BoughtIndex Futures Options:
Sold
BoughtOver-the-Counter:
Equity Linked Swaps
Options:
Sold
BoughtOther:
Sold
BoughtTotal

Contract value
Total
Over one year

Unrealized
gains (losses)¥653,647
203,355¥4,954
16,821¥(10,360)
6,566¥(10,360)
6,566

1,367,801
1,059,180

174,982
100,694(85,588)
49,249(44,049)
17,375865,939385,268

80,79580,795

1,156,025
1,196,967

818,365
938,768(77,061)
102,183(77,061)
102,183―
341,807/―
116,446/―(20,637)¥45,146―(20,637)¥54,811－ 91 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Millions of yen
As of March 31, 2022

Listed:Index Futures:
Sold
BoughtIndex Futures Options:
Sold
BoughtOver-the-Counter:
Equity Linked Swaps
Options:
Sold
BoughtOther:
Sold
BoughtTotal

Contract value
Total
Over one year

Fair value

Unrealized
gains (losses)¥386,324
135,158¥24,290
29,145¥(17,249)
3,371¥(17,249)
3,371

2,722,346
2,200,458

361,435
244,775(193,606)
116,589(106,931)
51,814

994,753594,971

80,20780,207

1,043,572
825,177

723,666
796,183(105,050)
142,526(105,050)
142,526

331,959
1,444,734/

4,335
167,501/

99,35732,511¥158,657

99,35732,511¥180,557

Thousands of U.S. dollars
As of March 31, 2023

Listed:Index Futures:
Sold
BoughtIndex Futures Options:
Sold
BoughtOver-the-Counter:
Equity Linked Swaps
Options:
Sold
BoughtOther:
Sold
BoughtTotal

Contract value
Total
Over one year

Unrealized
gains (losses)$4,894,770
1,522,805$37,102125,964$(77,587)
49,170$(77,587)
49,170

10,242,635
7,931,558

1,310,339
754,039(640,917)
368,799(329,863)
130,115

6,484,495

2,885,040

605,028605,028

8,656,771
8,963,361

6,128,243
7,029,870(577,065)
765,189(577,065)
765,189―2,559,585/―
871,998/―(154,539)$338,078―(154,539)$410,448－ 92 －

Derivatives Information

Fair value2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(d) Commodity-Related Transactions
Millions of yen
2023

2022

Contract value
As of March 31,

Listed:Futures:
Sold
BoughtOptions:
Sold
BoughtOver-the-Counter:
Options:
Sold
BoughtTotal

Contract value

Total

Over
one year

Fair
Unrealized
value gains (losses)

Total

Over
one year¥134,624
187,769¥24,965
56,073¥(178)
5,078

400
213

―
―

322,986
252,235/

140,840
102,095/¥(178)
5,078¥79,306
118,853¥16,640
42,576¥(27,442)
48,259¥(27,442)
48,259

(19)
3

13
(2)

―
―

―
―

―
―

―
―

(16,389)
17,644¥6,137(16,389)
17,644¥6,164

263,234
216,796/

130,604
100,294/(90,713)72,939¥3,043(90,713)72,939¥3,043Thousands of U.S. dollars
2023
Contract value
As of March 31,

Total

Listed:Futures:Sold$1,008,121
Bought1,406,092
Options:
Sold
3,000
Bought1,600
Over-the-Counter:
Options:Sold
2,418,648
Bought
1,888,837
Total
/

Over
one year

Fair
Unrealized
value gains (losses)$186,954
419,902$(1,337)
38,027$(1,337)
38,027

―
―

(149)
25

98
(21)

1,054,668
764,531/(122,734)
132,128$45,960(122,734)
132,128$46,161

Note: Commodities include oil, copper, aluminum and others.

－ 93 －

Derivatives Information

Fair
Unrealized
value gains (losses)

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(e) Credit Derivative Transactions
Millions of yen
As of March 31, 2023

Over-the-Counter:
Credit Derivatives:
Sold
BoughtTotal

Contract value
Total
Over one year

¥10,271,257
12,484,873/¥9,939,876
11,666,579/

Fair value

Unrealized
gains (losses)¥92,759(63,131)¥29,628¥92,759(63,131)¥29,628
Millions of yen

As of March 31, 2022

Over-the-Counter:
Credit Derivatives:
Sold
BoughtTotal

Contract value
Total
Over one year

¥5,166,546
6,829,733/¥4,921,255
6,373,844/

Fair value

Unrealized
gains (losses)¥91,514(91,657)¥(142)¥91,514(91,657)¥(142)

Thousands of U.S. dollars
As of March 31, 2023

Over-the-Counter:
Credit Derivatives:
Sold
BoughtTotal

Contract value
Total
Over one year

$76,915,210
93,491,637/$74,433,698
87,363,935/

Note: “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.

－ 94 －

Derivatives Information

Fair value

Unrealized
gains (losses)$694,623(472,755)$221,868$694,623(472,755)$221,868

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(2) Derivative Transactions Qualifying for Hedge Accounting(a) Interest Rate and Bond-related Transactions
Millions of yen
As of March 31, 2023

Primary Method :Interest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Fair Value Hedge Method :Interest Rate Swaps:
Receive Float / Pay Fixed
Receive Float / Pay Float
Exceptional Accrual Method :Interest Rate Swaps:
Receive Float / Pay Fixed
Total

Contract value
Total
Over one year

Primary
hedged items

Loans, deposits,
borrowings, other securities
and others

Fair value¥24,175,524
7,820,973¥21,076,983
7,139,414¥(491,392)
12,460

7,962
7,279

1,327
7,211

178
(1,442)Loans and others

Loans and others
Note 246,091/

42,205/¥(480,194)
Millions of yen

As of March 31, 2022

Primary Method :Interest Rate Swaps:
Receive Fixed / Pay Float
Receive Float / Pay Fixed
Fair Value Hedge Method :Interest Rate Swaps:
Receive Float / Pay Fixed
Receive Float / Pay Float
Exceptional Accrual Method :Interest Rate Swaps:
Receive Float / Pay Fixed
Total

Contract value
Total
Over one year

Primary
hedged items

Loans, deposits,
borrowings, other securities
and others¥16,645,278
7,250,331¥13,423,200
5,978,877¥(214,332)
105,318

7,116
5,906

6,901
5,849

(102)
(968)

Loans and others

Loans and others
Note 2

47,112/－ 95 －

Derivatives Information

Fair value

37,052/¥(110,084)

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

As of March 31, 2023

Primary Method :Interest Rate Swaps:
Receive Fixed / Pay Float

Thousands of U.S. dollars
Contract value
Total
Over one year
Fair value

Primary
hedged items

Loans, deposits,
borrowings, other securities
and others

Receive Float / Pay Fixed
Fair Value Hedge Method :$181,035,829$157,832,734$(3,679,739)

58,566,523

53,462,742

93,313Loans and others

Interest Rate Swaps:
Receive Float / Pay Fixed

59,623

9,937

1,339

Receive Float / Pay Float

54,51054,003(10,800)

Exceptional Accrual Method :Loans and others

Interest Rate Swaps:

Note 2

Receive Float / Pay Fixed
Total

345,151

316,049//$(3,595,887)

Notes: 1. Primarily the deferred method is applied under “Accounting and Auditing Treatment Relating to Adoption of
Accounting Standards for Financial Instruments for Banks” (JICPA Industry Committee Practical Guidelines No. 24,
March 17, 2022).
2. Since derivative transactions qualifying for the exceptional accrual method are treated as a unit of hedged items
such as loans, those fair values are included in fair values of such loans in “41. Financial Instruments.”－ 96 －

Derivatives Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(b) Currency-Related Transactions
Millions of yen
As of March 31, 2023

Primary Method :Swaps
Forwards:
Sold
Fair Value Hedge Method :Swaps
Forwards:
Sold
BoughtTotal

Contract value
Total
Over one year

Primary
hedged items

Loans, deposits, borrowings,
parent company’s interest of
subsidiaries’ net assets andothersFair value¥10,632,083¥3,789,822¥(231,625)

5,204

―

48

168

―

(44)

61,882
63,084/14
14/(1,028)4,078¥(228,571)

Loans and other securities

Millions of yen
As of March 31, 2022

Primary Method :Swaps
Forwards:
Sold
Fair Value Hedge Method :Swaps
Forwards:
Sold
BoughtTotal

As of March 31, 2023

Primary Method :Swaps
Forwards:
Sold
Fair Value Hedge Method :Swaps
Forwards:
Sold
BoughtTotal

Contract value
Total
Over one year

Primary
hedged items

Loans, deposits, borrowings,
parent company’s interest of
subsidiaries’ net assets andothersFair value¥8,059,860¥3,124,945¥(188,881)

205

―

(12)

672

672

(291)

13,47812,157
/

1,316
1,316
/

(914)
407
¥(189,692)

Loans and other securities

Thousands of U.S. dollars
Contract value
Total
Over one year
Fair value

Primary
hedged items

Loans, deposits, borrowings,
parent company’s interest of
subsidiaries’ net assets andothers$79,617,220$28,379,680$(1,734,503)

38,970

―

360

1,259

―

(335)

463,402472,399
/

110
110
/

(7,703)30,544$(1,711,637)

Loans and other securities

Note: Primarily the deferred method is applied under “Accounting and Auditing Treatment Relating to Adoption of AccountingStandards for Foreign Currency Transactions for Banks” (JICPA Industry Committee Practical Guidelines No. 25,
October 8, 2020).

－ 97 －

Derivatives Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）(c) Stock-Related Transactions
Millions of yen
As of March 31, 2023

Primary Method :Index Futures:
Sold
Fair Value Hedge Method :Forward Stock Agreements:
Sold
Total

Contract value
Total
Over one year

Primary
hedged items

Fair value

Other securities¥381,410¥―¥(668)

97,795/

14,387/(14,242)¥(14,910)

Other securities

Millions of yen
As of March 31, 2022

Primary Method :Index Futures:
Sold
Fair Value Hedge Method :Forward Stock Agreements:
Sold
Total

As of March 31, 2023

Primary Method :Index Futures:
Sold
Fair Value Hedge Method :Forward Stock Agreements:
Sold
Total

Contract value
Total
Over one year

Primary
hedged items

¥―

¥―

¥―

161,258/

109,979/

4,234¥4,234

Other securities

Thousands of U.S. dollars
Contract value
Total
Over one year
Fair value

Primary
hedged items

Other securities$2,856,151$―$(5,004)

732,329/

107,740/(106,650)$(111,654)

Other securities－ 98 －

Derivatives Information

Fair value―2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

44. Segment Information
Segment Information by Management Approach
1. Summary of Reportable Segment
MHFG has introduced an in-house company system based on the group’s diverse customer segments. The aim of thissystem 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 thatclosely 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 chargeof 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 rangeof customers from individuals to institutional investors.
The reportable segment information, set forth below, is derived from the internal management reporting systems used bymanagement 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.

2. Calculating Method of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net
Gains or Losses Related to ETFs and Others, Net Business Profits or Losses (excluding the amountsof credit costs of trust accounts, before reversal of (provision for) general reserve for losses onloans) + Net Gains or Losses Related to ETFs and Others, and Fixed Assets by Reportable Segment
The following information of reportable segment is based on internal management reporting:Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others is thetotal amount of Interest Income, Fiduciary Income, Fee and Commission Income, Trading Income, Other Operating Income,and Net gains or losses related to ETFs and 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 is the amount of which General andadministrative expenses (excluding non-recurring expenses and others), Equity in income from investments in affiliates,
Amortization of goodwill and others (including amortization of intangible assets) are deducted from, or added to, Grossprofits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others.
Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to ETFs and others
relating to transactions between segments is based on the current market prices.
Fixed assets disclosed as asset information by segment are the total amount of tangible fixed assets and intangible fixed
assets. Fixed assets pertaining to Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., and Mizuho Securities Co., Ltd.
have been allocated to each segment.

－ 99 －

Segment Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）3. Gross Profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related
to ETFs and 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, and Fixed Assets by Reportable Segment
Millions of yen
MHFG (Consolidated)

For the Fiscal Year
ended March 31,2023

Gross profits:(excluding theamounts of credit
costs of trust
accounts) + Net
gains or losses
related to ETFs¥
and others
General andadministrative
expenses(excluding NonRecurring Losses
and others)
Equity in income
from investments
in affiliates
Amortization of
goodwill andothersNet businessprofits or losses(excluding theamounts of credit
costs of trust
accounts, before
reversal of(provision for)general reserve forlosses on loans) +Net gains orlosses related to¥
ETFs and others
Fixed assets¥

Retail &Business
BankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

Others(Note 2)

Total

704,010 ¥502,333 ¥672,208 ¥321,205 ¥55,165 ¥25,325 ¥ 2,280,246

611,572

197,274

322,981

258,031

35,194

48,512

1,473,564(17,036)

6,376

22,781

―

241

(472)

11,889

2,071

91

740

770

6,861

901

11,43473,331 ¥489,333 ¥

311,344 ¥
150,141 ¥

371,268 ¥
173,722 ¥

62,404 ¥87,865 ¥13,351 ¥― ¥－ 100 －

Segment Information

Asset
Management
Company(24,561) ¥807,136
777,510 ¥ 1,678,571

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Millions of yen
MHFG (Consolidated)

For the Fiscal Year
ended March 31,2022

Gross profits:(excluding theamounts of credit
costs of trust
accounts) + Net
gains or losses
related to ETFs¥
and others
General andadministrative
expenses(excluding NonRecurring Losses
and others)
Equity in income
from investments
in affiliates
Amortization of
goodwill andothersNet businessprofits or losses(excluding theamounts of credit
costs of trust
accounts, before
reversal of(provision for)general reserve forlosses on loans) +Net gains orlosses related to¥
ETFs and others
Fixed assets¥

Retail &Business
BankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

Others(Note 2)

Total

714,986 ¥494,408 ¥592,812 ¥388,057 ¥

59,491 ¥4,632 ¥ 2,254,386

623,679

201,384

300,020

234,61133,44821,845

1,414,987

5,889

3,751

15,991―

1,598(1,794)25,434

2,161

95

360

804

7,247

989

11,65695,035 ¥493,002 ¥296,680 ¥159,109 ¥308,423 ¥
161,798 ¥

152,642 ¥88,484 ¥20,394 ¥― ¥－ 101 －

Segment Information

Asset
Management
Company(19,997) ¥853,176
794,877 ¥ 1,697,270

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Thousands of U.S. dollars
MHFG (Consolidated)

For the Fiscal Year
ended March 31,2023

Retail &Business
BankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

Gross profits:(excluding theamounts of credit
costs of trust
accounts) + Net
gains or losses
related to ETFs
$ 5,271,903 $ 3,761,666 $and others
General andadministrative
expenses(excluding NonRecurring Losses
4,579,691
1,477,265
and others)
Equity in income
from investments(127,572)
47,746
in affiliates
Amortization of
goodwill and
15,509681
othersNet businessprofits or losses(excluding theamounts of credit
costs of trust
accounts, before
reversal of(provision for)general reserve forlosses on loans) +Net gains orlosses related to$549,131 $ 2,331,466 $ETFs and others
Fixed assets$ 3,664,318 $ 1,124,315 $Asset
Management
Company

Others(Note 2)

Total

5,033,758 $ 2,405,310 $

413,097 $

189,647 $ 17,075,381

2,418,609

1,932,238

263,547

363,278

11,034,628

170,593―

1,805(3,540)89,032

5,541

5,766

51,3786,753

85,6282,780,201 $
1,300,898 $

467,306 $657,968 $

99,977 $ (183,924) $ 6,044,157― $ 5,822,304 $ 12,569,803

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 ¥ 1,840 million and¥ 1,916 million, of which ¥ (299) million and ¥ 2,274 million are included in the Global Markets Company for the fiscal year ended
March 31 2023 and 2022, respectively.
2.“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
3.“Others” in Fixed assets includes assets of headquarters that have not been allocated to each segment, Fixed assets pertaining toconsolidated subsidiaries that are not subject to allocation, consolidated adjustments, and others. Among Fixed assets that havenot been allocated to each segment, some related expenses are allocated to each segment using the reasonable criteria of
allocation.
4.Following the change in allocation method for transactions between each segment and “Others” made in April 2022,
reclassification was made on the above table for the fiscal year ended March 31, 2022 to reflect the relevant change.

－ 102 －

Segment Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

4. The Difference between the Total Amounts of Reportable Segments and the Recorded Amounts inConsolidated Statement of Income, and the Contents of the Difference (Matters relating to adjustment
to difference)
The above amount of Gross profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related
to ETFs and others and that of 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 or losses related to ETFs and others derived
from internal management reporting by reportable segment are different from the amounts recorded in Consolidated
Statement of Income.
The contents of the difference for the period are as follows:(a) The Total of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net gains or losses related to
ETFs and others of Segment Information and Ordinary Profits recorded in the Consolidated Statement of Income
Millions of yen
2023

Gross Profits(excluding the amounts of credit costs of trust accounts) + Net¥
gains or losses related to ETFs and others
Net gains or losses related to ETFs and others
Other Ordinary Income
General and Administrative Expenses
Other Ordinary Expenses
Ordinary Profits recorded in Consolidated Statement of Income ¥2,280,246 ¥(1,840)180,579(1,445,283)(224,095)
789,606 ¥2022

2,254,386 $(1,916)276,170(1,392,896)(575,896)
559,847 $Thousands of
U.S. dollars
2023

17,075,381(13,783)
1,352,251(10,822,851)(1,678,114)
5,912,884(b) The Total of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provisionfor) general reserve for losses on loans) + Net gains or losses related to ETFs and others of Segment Information andIncome before Income Taxes Recorded in Consolidated Statement of Income
Millions of yen
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
General and Administrative Expenses (non-recurring losses)
Expenses Related to Portfolio Problems (including reversal of(provision for) general reserve for losses on loans)
Gains on Reversal of Reserves for Possible Losses on Loansand others
Net Gains (Losses) Related to Stocks- Net Gains (Losses) related
to ETFs and others
Net Extraordinary Gains (Losses)
OthersIncome before Income Taxes Recorded in Consolidated¥
Statement of Income－ 103 －

Segment Information

2022

Thousands of
U.S. dollars
2023

807,136 ¥
39,715853,176 ¥
33,7486,044,157
297,405(96,737)(255,941)(724,409)

7,426

20,76555,611

84,633(10,641)(52,568)(45,763)
44,024(46,137)

633,771(79,691)(393,651)

778,964 ¥603,872 $

5,833,193

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）5. Related Information(a) Information about Geographic Areas(i) Ordinary income
Millions of yen
2023

Ordinary Income

Japan

¥

2,248,427 ¥Americas2,335,600 ¥EuropeAsia/Oceania
excluding Japan

455,785 ¥738,958 ¥Total

5,778,772
Millions of yen

2022

Ordinary Income

Japan

¥

2023

Ordinary Income$

2,079,170 ¥Americas1,355,003 ¥EuropeAsia/Oceania
excluding Japan

167,885 ¥361,032 ¥Total

3,963,091

Thousands of U.S. dollars
Asia/Oceania
Total
excluding Japan

Japan

Americas

Europe16,837,108 $

17,489,893 $

3,413,104 $5,533,614 $

43,273,719

Notes: 1.The above table shows Ordinary Income instead of sales of non-financial companies.
2.Ordinary income is segmented by country and region based on the location of our group office in considerationof geographical proximity, similarity of economic activities, and interrelationship of business activities.
(ii) Tangible fixed assets
Information on tangible fixed assets by geographical areas as of March 31, 2023 and 2022 is not disclosed sincetangible fixed assets in Japan accounted for more than 90% of tangible fixed assets.
(b) Information about Major Customers
Information about major customers is not disclosed since there are no outside customers accounted for more than 10%of Ordinary Income of the Company.

－ 104 －

Segment Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

6. Information about Impairment Loss on Tangible Fixed Assets by Reportable Segment
Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2023

Retail & BusinessBanking Company

Impairment Loss¥

35,788 ¥Corporate &Institutional
Company

Global Corporate
Company753 ¥Global Markets
Company

102 ¥

992 ¥

Asset
Management
Company― ¥Others13,910 ¥Total

51,545

Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2022

Retail & BusinessBanking Company

Impairment Loss¥

10,426 ¥Corporate &Institutional
Company

Global Corporate
Company

3,844 ¥

Global Markets
Company

3,366 ¥

1,676 ¥

Asset
Management
Company― ¥Others8,273 ¥

Total

27,585

Thousands of U.S. dollars
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2023

Retail & BusinessBanking Company

Impairment Loss$

267,995 $Corporate &Institutional
Company

Global Corporate
Company

5,639 $

Global Markets
Company

764 $7,428 $

Asset
Management
Company― $OthersTotal

104,167 $385,993

Note: Following the change in allocation method for transactions between each segment and “Others” made in April 2022,
reclassification was made on the above table for the fiscal year ended March 31, 2022 to reflect the relevant change.

－ 105 －

Segment Information

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）7. Information about Amortization and Unamortized Balance of Goodwill by Reportable Segment
Millions of yen
MHFG (Consolidated)
For the Fiscal Year ended
March 31, 2023

Amortization of Goodwill
Unamortized Balance ofGoodwill

Retail & BusinessBankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

AssetManagement
Company

Others

Total

¥

― ¥

― ¥

477 ¥

― ¥

2,670 ¥

624 ¥

3,771

¥

― ¥

― ¥

3,036 ¥

― ¥36,016 ¥10,561 ¥49,613

Millions of yen
MHFG (Consolidated)
For the Fiscal Year ended
March 31, 2022

Amortization of Goodwill
Unamortized Balance ofGoodwill

Retail & BusinessBankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

AssetManagement
Company

Others

Total

¥

― ¥

― ¥

360 ¥

― ¥

2,670 ¥

711 ¥

3,741

¥

― ¥

― ¥

2,473 ¥

― ¥38,684 ¥11,390 ¥52,547

Thousands of U.S. dollars
MHFG (Consolidated)
For the Fiscal Year ended
March 31, 2023

Amortization of Goodwill
Unamortized Balance ofGoodwill

Retail & BusinessBankingCompany

Corporate &Institutional
Company

Global Corporate Global Markets
Company
Company

AssetManagement
Company

Total

― $

― $

3,574 $

― $19,994 $

4,676 $

28,244

$

― $

― $

22,735 $― $269,702 $79,087 $371,524

8. Information about Gain on Negative Goodwill Incurred by Reportable Segment
For the fiscal years ended March 31, 2023 and 2022
・There is no applicable information.

－ 106 －

Segment Information

Others$2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

45. Related Party
1. Related Party Transactions(1)Transactions with related parties
For the fiscal years ended March 31, 2023 and 2022
・There are no material transactions to disclose.
(2)Transactions between consolidated subsidiaries of MHFG and related parties
Corporate pension for employee
For the fiscal year ended March 31, 2023
Type

Corporate
pensionBalance atthe End of

Name ofCapital or

Description

Share ofCompanyorIndividuallnvestment(Millions ofyen)of Businessor
Occupation

VotingRights(%)

Relation

Description

with Related
Partyof theTransaction──Pensionassetsunder theaccountingfor
employeeretirement
benefit

Partialreturn ofpensionassets¥ 164,187

──

Descriptionof Businessor
Occupation

Share of
VotingRights(%)

Relationwith Related
Party

Descriptionof theTransaction

Transaction
Amount(Millions ofyen)

Items of
Account

Balance atthe End of
the Period(Millions ofyen)─

Pensionassetsunder theaccountingfor
employeeretirement
benefit

Partialreturn ofpensionassets¥ 258,877──

Employee
Retirement
Benefit
Trust

Location──Transaction
Amount(Millions ofyen)

Items of
Account

the Period(Millions ofyen)

For the fiscal year ended March 31, 2022
Type

Corporate
pensionName ofCompanyorIndividual

Employee
Retirement
Benefit
Trust

Location─

Capital orlnvestment(Millions of
yen)

─

─

2. Notes to Parent Company and Significant Affiliate
For the fiscal years ended March 31, 2023 and 2022
・There is no applicable information.

－ 107 －

Related Party

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）46. Revenue recognition(1)Revenue breakdown information
2022

Thousands of
U.S. dollars
2023¥3,963,091
905,575
276,279
211,682
104,561
84,98736,19136,898
154,974
60,4902,997,026$43,273,719
6,855,881
2,308,187
1,408,804
779,242566,613302,346
273,546
1,217,143
441,505
35,976,333

Millions of yen
2023

As of March 31,

Ordinary Income
Fee and Commission Income*1
Deposits and Lending business
Securities-related business
Remittance business
Trust-related business*2
Guarantee-related businessAgency business
Fees for other customer services
Fiduciary Income*1
Other Ordinary Income¥5,778,772
915,534
308,235
188,131104,059
75,66540,37536,529162,537
58,9584,804,279*1Part of these amounts are considered to be revenues from contracts that are within the scope of “Accounting Standard for Revenue Recognition”.
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 ＆ BusinessBanking Company”, “Corporate ＆ Institutional Company” and “Global Corporate Company”.
*2(2)Contract assets, contract liabilities and receivables from contracts with customers
The balances of contract assets, contract liabilities and receivables from contracts with customers are included in otherassets and other liabilities in the consolidated balance sheet. The balance of contract assets, contract liabilities andreceivables from contracts with customers at the current and previous consolidated balance sheet date are immaterial.
(3)Price allocated to remaining performance obligations
The amount of revenue expected to be recognized in subsequent fiscal years is not material in terms of amount for the
fiscal year ended March 31, 2023 and March 31, 2022. Contracts with a term of up to one year and contracts for whichrevenue can be recognized at the amount our group has the right to claim are not included in the subject of this report.

－ 108 －

Revenue Recognition

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

47. Per Share Information
Per share information as of or for the fiscal years ended March 31, 2023 and 2022 are calculated based on the following
information:
Yen
As of or for the fiscal years ended March 31,

Net Assets per Share of Common Stock
Profit Attributable to Owners of Parent per Share ofCommon Stock
Diluted Profit Attributable to Owners of Parent per
Share of Common Stock

2023

2022

U.S. dollars
2023¥3,603.98¥3,581.39$26.99219.20209.271.64

219.19209.26

1.64

Notes: 1. Total Net Assets per Share of Common Stock is based on the following information.
Millions of yen
As of March 31,

Total Net Assets
Deductions from Total Net Assets
Stock Acquisition Rights
Non-Controlling Interests
Net Assets (year-end) related to Common
StockYear-end Outstanding Shares of Common
Stock, based on which Total Net Assets
per Share of Common Stock was
calculated

2023

2022

Thousands of U.S. dollars
2023¥9,208,463
75,1685
75,163¥9,201,031
123,649
94
123,555$68,956,592
562,895
41
562,854

9,133,294

9,077,382

68,393,697

2,534,222 Thousand shares

2,534,590 Thousand shares/

2. Profit Attributable to Owners of Parent per Share of Common Stock is based on the following information.
Millions of yen
For the fiscal years ended March 31,

Profit Attributable to Owners of Parent
Amount not attributable to Common Stock
Profit Attributable to Owners of Parent
related to Common Stock
Average Outstanding Shares of Common
Stock (during the period)

2023

2022

Thousands of U.S. dollars
2023¥555,527—¥530,479—$4,160,007—

555,527

530,479

4,160,007

2,534,340 Thousand shares

2,534,897 Thousand shares/

3. Diluted Profit Attributable to Owners of Parent per Share of Common Stock is based on the following information.
Millions of yen
For the fiscal years ended March 31,

Adjustment to Profit Attributable to Ownersof Parent
Increased Number of Shares of Common
Stock
Stock Acquisition Rights
Description of Dilutive Securities whichwere not included in the Calculation of
Diluted Profit Attributable to Owners of
Parent per Share of Common Stock asthey have no Dilutive effects

2023

2022

Thousands of U.S. dollars
2023

¥—

¥—

$—

15 Thousand shares
15 Thousand shares

65 Thousand shares
65 Thousand shares

/
/

—

—

/

－ 109 －Per Share Information、Subsequent Events

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

4. In the calculation of Net Assets per Share of Common Stock, MHFG shares outstanding in BBT trust account thatwere recognized as Treasury Stock in Shareholders’ Equity are included in Treasury Stock shares deducted fromthe number of issued shares. The number of such Treasury Stock shares deducted during the period is 3,231
thousand and 3,079 thousand as of March 31, 2023 and 2022, respectively.
In the calculation of Profit Attributable to Owners of Parent per Share of Common Stock and Diluted Profit
Attributable to Owners of Parent per Share of Common Stock, such Treasury Stock shares 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 period is 3,275 thousand and2,892 thousand as of March 31, 2023 and 2022, respectively.

48. Subsequent Events
There is no applicable information.

－ 110 －Per Share Information、Subsequent Events

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements ofMizuho Financial Group, Inc. and Three Subsidiaries[Under Japanese GAAP]

Mizuho Financial Group, Inc.
112

Non-Consolidated Balance Sheet

113

Non-Consolidated Statement of Income

Mizuho Bank, Ltd.
114

Non-Consolidated Balance Sheet

116

Non-Consolidated Statement of Income

Mizuho Trust & Banking Co., Ltd.
117

Non-Consolidated Balance Sheet

119

Non-Consolidated Statement of Income

Mizuho Securities Co., Ltd.
120

Non-Consolidated Balance Sheet

123

Non-Consolidated Statement of Income－ 111 －

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries-Index

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Financial Group, Inc.

Non-Consolidated Balance Sheet
Millions of yen
2023

As of March 31,

AssetsCurrent Assets
Cash and Due from Banks
Other Current Assets
Fixed Assets
Tangible Fixed Assets
Intangible Fixed Assets
Investments in Subsidiaries and Affiliates
Other Investments
Total Assets
Liabilities and Net Assets
Liabilities
Current Liabilities
Short-term Borrowings
Other Current Liabilities
Non-Current Liabilities
Total Liabilities
Net Assets
Shareholders' Equity
Common Stock
Capital Surplus
Capital Reserve
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Treasury Stock
Valuation and Translation Adjustments
Net Unrealized Gains ( Losses) on Other Securities, net of Taxes
Stock Acquisition Rights
Total Net Assets
Total Liabilities and Net Assets¥

Non-Consolidated Balance Sheet

2022

368,61447,875
320,739
14,954,569
50,002
11,014
5,828,454
9,065,098¥ 15,323,184

735,018
51,770683,248
13,629,183
51,168
6,935
5,649,249
7,921,830¥ 14,364,202

$

¥

¥

$

1,065,686
810,000
255,686
8,596,364
9,662,050

5,661,094
2,256,767
1,196,659
1,196,659
2,214,747
4,350
2,210,397
2,210,397(7,080)33
33
55,661,133¥ 15,323,184¥

1,263,252
755,000
508,252
7,495,495
8,758,748

5,605,343
2,256,767
1,196,659
1,196,659
2,158,673
4,350
2,154,323
2,154,323(6,756)16
16
94
5,605,454¥ 14,364,202

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 112 －

Thousands of
U.S. dollars
2023

2,760,332
358,5072,401,825
111,985,696
374,440
82,48343,645,755
67,883,018$ 114,746,028

7,980,281
6,065,598
1,914,683
64,372,953
72,353,234

42,392,502
16,899,562
8,961,057
8,961,057
16,584,902
32,574
16,552,328
16,552,328(53,019)251251
4142,392,794$ 114,746,028

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Financial Group, Inc.

Non-Consolidated Statement of Income
Millions of yen
2023

For the Fiscal Years ended March 31,

Operating Income
Cash Dividends Received from Subsidiaries and Affiliates
Fee and Commission Income Received from Subsidiaries andAffiliates
Operating Expenses
General and Administrative Expenses
Operating Profits
Non-Operating Income
Non-Operating Expenses
Income before Income Taxes
Income Taxes:
Current
Deferred
Net Income¥¥

316,331271,955

Non-Consolidated Statement of Income

2022

320,846
279,822$2,368,816
2,036,506

44,37652,88752,887
263,444
179,396
178,448
264,392

41,024
43,191
43,191
277,654
187,729
162,776
302,607332,310396,041
396,041
1,972,775
1,343,393
1,336,294
1,979,874(3,320)2,071
265,641(103,716)
806¥ 405,518(24,867)
15,515
1,989,226

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 113 －¥

Thousands of
U.S. dollars
2023$

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Bank, Ltd.

Non-Consolidated Balance Sheet

As of March 31,

AssetsCash and Due from Banks
Call Loans
Receivables under Resale Agreements
Guarantee Deposits Paid under Securities Borrowing Transactions
Other Debt Purchased
Trading Assets
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchange Assets
Other Assets
Tangible Fixed Assets
Buildings
Land
Lease Assets
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
SoftwareLease Assets
Other Intangible Fixed Assets
Prepaid Pension Cost
Deferred Tax Assets
Customers' Liabilities for Acceptances and Guarantees
Reserves for Possible Losses on Loans
Reserve for Possible Losses on Investments
Total Assets－ 114 －

Non-Consolidated Balance Sheet

2022

Thousands of
U.S. dollars
2023¥48,803,771
1,223,766
1,681,260
154,255
679,939
4,496,695
504
44,608,181
82,962,457
2,509,122
12,092,291
847,689
260,332
528,716
4,333
21,12833,178347,681272,584
1,811
73,285
440,611
273,129
8,733,646(814,778)(106)¥209,040,119$472,360,575
13,574,515
6,500,362
1,174,236
4,878,795
40,607,280
3,781
277,895,899
653,589,773
17,175,259
122,081,825
6,425,321
1,881,390
3,962,882
44,885324,585
211,579
2,642,538
2,019,417
15,669607,452
3,021,791
2,862,273
74,912,143(5,254,249)―$1,694,452,117

Millions of yen
2023¥63,079,031
1,812,740
868,058
156,807651,514
5,422,696
504
37,110,218
87,280,378
2,293,584
16,302,806
858,037251,240529,203
5,993
43,34528,254352,884
269,673
2,092
81,119403,530
382,227
10,003,767(701,652)―¥226,277,135

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Bank, Ltd.

Non-Consolidated Balance Sheet—(Continued)2022

Thousands of
U.S. dollars
2023¥158,430,173
1,229,224
14,106,366¥149,796,096
940,058
9,293,236$1,186,387,402
9,204,913
105,634,016

93,216
1,782,111
4,574,447
12,507,802
889,189585,861
15,297,596
26,406757
15,0494,781
12,9807,798
58,711
10,003,767
219,626,240

146,864
1,775,859
3,447,533
14,397,626
1,788,299
810,504
10,937,665
24,582
763
1,309
1,306
16,627
10,50459,962
8,733,646
202,182,447

698,039
13,345,148
34,255,258
93,663,341
6,658,597
4,387,160
114,554,413
197,744
5,670
112,698
35,807
97,20558,397
439,651
74,912,143
1,644,647,602

6,420,490
1,404,065
2,259,392
660,805
1,598,587
2,757,032
421,264
2,335,768
2,335,768
230,404
468,873(367,790)
129,3216,650,894¥226,277,135

6,182,751
1,404,065
2,259,392
660,805
1,598,587
2,519,294
389,0122,130,281
2,130,281
674,920
623,367(80,603)
132,156
6,857,672¥209,040,119

48,079,157
10,514,191
16,919,220
4,948,370
11,970,850
20,645,746
3,154,591
17,491,155
17,491,155
1,725,358
3,511,108(2,754,163)
968,41349,804,515$1,694,452,117

Millions of yen
2023

As of March 31,

Liabilities and Shareholders' Equity
Liabilities
Deposits
Call Money
Payables under Repurchase Agreements
Guarantee Deposits Received under Securities Lending
Transactions
Commercial Paper
Trading Liabilities
Borrowed Money
Foreign Exchange Liabilities
Bonds and Notes
Other Liabilities
Reserve for Bonus Payments
Reserve for Variable Compensation
Reserve for Possible Losses on Sales of Loans
Reserve for Contingencies
Reserve for Reimbursement of Deposits
Reserve for Reimbursement of Debentures
Deferred Tax Liabilities for Revaluation Reserve for Land
Acceptances and Guarantees
Total Liabilities
Net Assets
Shareholders' Equity
Common Stock and Preferred Stock
Capital Surplus
Capital Reserve
Other Capital Surplus
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Valuation and Translation Adjustments
Net Unrealized Gains (Losses) on Other Securities, net of Taxes
Net Deferred Hedge Gains (Losses), net of Taxes
Revaluation Reserve for Land, net of Taxes
Total Net Assets
Total Liabilities and Net Assets

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 115 －

Non-Consolidated Balance Sheet2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Statement of Income

2022

Thousands of
U.S. dollars
2023¥2,657,640
1,614,231
371,369
589,189
6,350
264,425
195,557
3,713,163¥1,131,111
774,657
260,684
542,348
1,664
235,596306,826
2,217547$19,901,458
12,088,000
2,780,958
4,412,080
47,553
1,980,122
1,464,411
27,805,624

1,786,742
1,006,192
177,952
361
231,355
742,375
186,263
3,125,050
588,112244,322
48,763
149,353―
170,721744,859
659,343
1,968,601
248,946

13,379,827
7,534,763
1,332,579
2,704
1,732,481
5,559,203
1,394,814
23,401,608
4,404,016

106,291
85,659¥396,161

159,760(87,395)¥176,581

795,953
641,451$2,966,612

Millions of yen
2023

For the Fiscal Years ended March 31,

IncomeInterest Income
Loans and Bills Discounted
Securities
Fee and Commission Income
Trading Income
Other Operating Income
Other Income
Total Income
Expenses
Interest Expenses
Deposits
Fee and Commission Expenses
Trading Expenses
Other Operating Expenses
General and Administrative Expenses
Other Expenses
Total Expenses
Income before Income Taxes
Income Taxes:
Current
Deferred
Net Income

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 116 －

Non-Consolidated Statement of Income

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Trust & Banking Co., Ltd.

Non-Consolidated Balance Sheet

As of March 31,

AssetsCash and Due from Banks
Guarantee Deposits Paid under Securities Borrowing Transactions
Other Debt Purchased
Money Held in Trust
Securities
Loans and Bills Discounted
Foreign Exchange Assets
Other Assets
Tangible Fixed Assets
Buildings
Land
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Other Intangible Fixed Assets
Prepaid Pension Cost
Customers' Liabilities for Acceptances and Guarantees
Reserves for Possible Losses on Loans
Total Assets－ 117 －

Non-Consolidated Balance Sheet

2022

Thousands of
U.S. dollars
2023¥1,923,672
20,04635,31426,556
288,530
3,192,348
3,898
255,755
100,132
31,51365,653
2,965
21,72820,0771,650
66,607
14,100(2,470)¥5,946,221$20,250,846
151,099
241,590
205,318
1,985,444
22,957,663
38,6472,078,576
700,745
213,065
467,449
20,231
141,750
121,351
20,399532,112102,256(26,971)$49,359,075

Millions of yen
2023¥2,704,297
20,17732,261
27,418265,136
3,065,766
5,160
277,573
93,57728,45262,423
2,701
18,92916,2052,724
71,05813,655(3,601)¥6,591,410

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Balance Sheet―(Continued)2022

Thousands of
U.S. dollars
2023¥3,250,208
907,935
303,400
1,534,097
28,363
3,134
245
2,273
714
―
22,527
13,655
6,066,558¥3,263,232
603,990
300,000
1,167,284
31,317
2,741
272
4,935
992
3,061
17,484
14,1005,409,413$24,338,842
6,798,979
2,271,97811,487,927
212,400
23,476
1,840
17,026
5,350―
168,698
102,256
45,428,772

458,349
247,369
15,505
15,505
275,474
159,891
115,583
115,583(79,999)
66,503
61,861
4,642
524,852¥6,591,410

479,346
247,369
15,505
15,505
296,471
150,297
146,174
146,174(79,999)
57,46057,707(246)
536,807¥5,946,221

3,432,299
1,852,402
116,109
116,1092,062,859
1,197,328
865,531865,531(599,071)
498,004
463,243
34,7613,930,303$49,359,075

Millions of yen
2023

As of March 31,

Liabilities and Shareholders' Equity
Liabilities
Deposits
Call Money
Borrowed Money
Due to Trust Accounts
Other Liabilities
Reserve for Bonus Payments
Reserve for Variable Compensation
Provision for Retirement Benefits
Reserve for Reimbursement of Deposits
Reserve for Loss of Transfer
Deferred Tax Liabilities
Acceptances and Guarantees
Total Liabilities
Net Assets
Shareholders' Equity
Common Stock and Preferred Stock
Capital Surplus
Capital Reserve
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Treasury Stock
Valuation and Translation Adjustments
Net Unrealized Gains on Other Securities, net of Taxes
Net Deferred Hedge Gains (Losses), net of Taxes
Total Net Assets
Total Liabilities and Net Assets

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 118 －

Non-Consolidated Balance Sheet2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Trust & Banking Co., Ltd.

Non-Consolidated Statement of Income

2022

Thousands of
U.S. dollars
2023¥59,527
26,283
19,376
5,088
68,35013
13,647
167,823¥61,028
26,345
19,6404,926
79,058369
14,900181,702$445,769
196,820
145,10238,104
511,838100
102,201
1,256,728

6,611
239
37,569―189
74,465
10,978129,813
38,0097,049
354
36,795640
1275,132
4,177
123,807
57,89449,506
1,791
281,334―
1,420
557,626
82,209972,095
284,633

10,043995¥26,970

10,651
4,559¥42,683

75,2107,454$201,969

Millions of yen
2023

For the Fiscal Years ended March 31,

IncomeFiduciary Income
Interest Income
Loans and Bills Discounted
Securities
Fee and Commission Income
Other Operating Income
Other Income
Total Income
Expenses
Interest Expenses
Deposits
Fee and Commission Expenses
Trading Expenses
Other Operating Expenses
General and Administrative Expenses
Other Expenses
Total Expenses
Income before Income Taxes
Income Taxes:
Current
Deferred
Net Income

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 119 －

Non-Consolidated Statement of Income

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Securities Co., Ltd.

Non-Consolidated Balance Sheet

As of March 31,

AssetsCurrent Assets
Cash and Due from Banks
Cash Segregated as Deposits for Customers and Others
Trading Assets
Trading Securities and Others
Derivatives
Receivables – Unsettled Trades
Operating Investment Securities
Operating loans receivable
Receivables Related to Margin Transactions
Loans Receivable under Margin Transactions
Cash Collateral for Borrowed Securities under Margin
Transactions
Collateralized Short-Term Financing Agreements-Receivable
Deposits Paid for Securities Borrowed
Securities Purchased under Agreements to Resell
Advances Paid
Short-Term Guarantee Deposits
Securities: Fail to Deliver
Variation Margin Paid
Short-term Loans Receivable
Other Current Assets
Less: Allowance for Doubtful Accounts
Total Current Assets
Noncurrent Assets
Tangible Fixed Assets
Intangible Fixed Assets
Investments and Other Assets
Investment Securities
Long-term Guarantee Deposits
Prepaid Pension Cost
Deferred Tax Assets
Other
Less: Allowance for Doubtful Accounts
Total Noncurrent Assets
Total Assets－ 120 －

Non-Consolidated Balance Sheet

2022

Thousands of
U.S. dollars
2023¥866,603
462,2326,430,652
2,289,857
4,140,795―
90,676
9,611
25,742
24,237¥405,261
541,274
6,921,502
3,197,851
3,723,651
145,887
40,926―34,802
29,635$6,489,468
3,461,377
48,155,253
17,147,352
31,007,901―
679,02171,973
192,773
181,498

1,505
4,722,172
1,741,151
2,981,021
1,372
470,417
30,155―
7,881
93,009(64)
13,210,463

5,167
4,707,548
2,225,758
2,481,790
94
627,838
32,41512,75747,98359,738(79)
13,577,953

11,27535,361,486
13,038,428
22,323,058
10,277
3,522,672
225,818―
59,018696,494(485)
98,925,145

16,992
44,747458,184
347,632
13,28429,25350,01721,480(3,483)519,924¥13,730,388

18,742
68,497304,034
235,628
12,98425,75419,99813,348(3,681)
391,274¥13,969,227

127,245
335,086
3,431,066
2,603,209
99,483
219,059
374,551
160,853(26,089)3,893,397$102,818,542

Millions of yen
2023

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Securities Co., Ltd.

Non-Consolidated Balance Sheet―(Continued)

As of March 31,

Liabilities
Current Liabilities
Trading Liabilities
Trading Securities and Others
Derivatives
Payables - Unsettled Trades
Payables Related to Margin Transactions
Borrowings on Margin Transactions
Cash Collateral for Loaned Securities under Margin Transactions
Collateralized Short-Term Financing Agreements-Payable
Deposits Received for Securities Loaned
Securities Sold under Agreements to Repurchase
Deposits Received
Guarantee Deposits Received
Securities: Fail to Receive
Variation margin received
Short-Term Borrowings
Commercial Paper
Bonds and Notes Due within One Year
Income Taxes Payable
Reserve for Bonus Payments
Provision for Variable Compensation
Other Current Liabilities
Total Current Liabilities
Noncurrent Liabilities
Bonds and Notes
Long-Term Borrowings
Provision for Retirement Benefits
Provision for Loss on Head Office Transfer
Other Noncurrent Liabilities
Total Noncurrent Liabilities
Statutory Reserves
Reserve for Financial Instruments Transaction Liabilities
Total Statutory Reserves
Total Liabilities－ 121 －

Non-Consolidated Balance Sheet

2022

Thousands of
U.S. dollars
2023¥5,918,952
2,018,408
3,900,543
36,516
37,624
3,763
33,8603,318,666
684,898
2,633,768
385,028
191,053
1,018
1,052
957,701
436,000
303,842
3,624
15,390401
48,80011,655,671¥5,356,537
1,935,741
3,420,796―
50,556
7,794
42,761
4,144,682
1,096,495
3,048,186
425,452
425,613
7,083―
904,079
490,500
148,768
2,515
25,379411
46,97012,028,549$44,323,440
15,114,634
29,208,806
273,448281,744
28,185
253,559
24,851,478
5,128,787
19,722,691
2,883,245
1,430,681
7,628
7,883
7,171,647
3,264,939
2,275,289
27,138115,248
3,006
365,436
87,282,250

641,254724,100
21,790923
3,895
1,391,964

753,870580,000
22,5791,541
3,769
1,361,759

4,801,969
5,422,345
163,176
6,917
29,172
10,423,579

3,352
3,352
¥13,050,989

3,132
3,132
¥13,393,441

25,107
25,107$97,730,936

Millions of yen
2023

2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Balance Sheet―(Continued)2022

Thousands of
U.S. dollars
2023¥125,167¥125,167$937,302

285,831
121,239
407,071285,831
95,817
381,649

2,140,418
907,891
3,048,309

394,868
394,868(257,520)
669,587

425,554425,554(369,999)
562,3712,956,933
2,956,933(1,928,411)
5,014,133

19,610(9,798)
9,811
679,398¥13,730,388

23,193(9,778)13,415575,786¥13,969,227

146,849(73,376)
73,473
5,087,606$102,818,542

Millions of yen
2023

As of March 31,

Net Assets
Shareholders' Equity
Common Stock
Capital Surplus
Additional Paid in Capital
Other Capital Surplus
Total Capital Surpluses
Retained Earnings
Other Retained Earnings
Retained Earnings Brought Forward
Total Retained Earnings
Treasury Stocks
Total Shareholders’ Equity
Valuation and Translation Adjustments
Net Unrealized Gains on (Operating) Investment Securities, net ofTax
Net Deferred Gains or Losses on Hedges, net of Tax
Total Valuation and Translation Adjustments
Total Net Assets
Total Liabilities and Net Assets

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 122 －

Non-Consolidated Balance Sheet2023/07/31 11:12:51 / 23006175_株式会社みずほフィナンシャルグループ_ディスクロージャー誌（通期）

Non-Consolidated Financial Statements of Mizuho Financial Group, Inc. and Three Subsidiaries

Mizuho Securities Co., Ltd.

Non-Consolidated Statement of Income

2022

Thousands of
U.S. dollars
2023¥143,118
23,788¥183,633
26,300$1,071,730
178,139

26,68438,562

199,825

23,066
69,57890,6481,204
137,406
372,379
120,444251,934
230,326
52,59083,73527,55841,437
16,599
5,586
53
2,764
21,6082,952
227
24,333
19,300
1,004
8,218
9,890
―

41,71077,058
123,761(2,831)75,942
380,505
53,612326,892
251,967
70,197
96,13121,01739,15017,770
5,252
36
2,411
74,924
3,437
506
77,855
3,738
―
2,882
―
852

172,734
521,032
678,815
9,023
1,028,956
2,788,524
901,938
1,886,586
1,724,774
393,821627,047
206,369
310,297
124,306
41,832397
20,705
161,812
22,1101,705
182,217
144,526
7,526
61,54374,065――
185
44,026
522
107
8,830
22,056
211
2,661
9,191
219

3
―
10,627
710
16
0
39
197
820
8,842
―

―
1,392
329,687
3,911
803
66,126
165,166
1,586
19,927
68,830
1,646

220
5
(393)
3,737
(28,428)(24,690)¥24,297――
70,966
10,303203
10,506¥60,459

1,652
40(2,944)27,987(212,883)(184,896)$181,952

Millions of yen
2023

For the Fiscal Years ended March 31,

Operating Revenues
Commissions
Brokerage Commissions
Underwriting and Selling Fees, and Commissions from
Solicitation to Qualifying Investors
Offering, Selling, and Other Commissions and Fees, andCommissions from Solicitation to Qualifying Investors
Other commissions and Fees
Net Gain on Trading
Net Gain on Operating Investment Securities
Interest and Dividend Income
Total Operating Revenues
Interest Expenses
Net Operating Revenues
Selling, General and Administrative Expenses
Transaction-Related Expenses
Personnel Expenses
Real Estate Expenses
Administrative Expenses
Depreciation and Amortization
Taxes and Dues
Provision of Allowance for Doubtful Accounts
Other
Operating Income
Non-operating Income
Non-operating Expenses
Ordinary Income
Extraordinary gain
Gain on Sale of Fixed Assets
Gain on Sale of Investment Securities
Gain on Exchange from Dividends in Kind
Reversal of Allowance for Loss on Head Office Transfer
Reversal of Reserve for Financial Instruments Transaction
Liabilities
Other
Extraordinary loss
Loss on Disposal of Fixed Assets
Loss on Sales of Investment Securities
Loss on Impairment of Investment Securities
Impairment Losses
Special Retirement Benefits
Head Office Transfer Cost
Loss Related to System Migration
Provision of Allowance for Loss on Head Office Transfer
Provision of Reserve for Financial Instruments Transaction
Liabilities
Other
Income before Income Taxes
Income Taxes – current
Income Taxes – deferred
Total Income Taxes
Net Income

Notes: 1. The amounts indicated in millions of yen are rounded down by truncating the figures below one million.
2. The rate of ¥133.54=US$1.00, the foreign exchange rate on March 31, 2023, has been used for translation.

－ 123 －

Non-Consolidated Statement of Income