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

2

Independent Auditor’s Report

8

Consolidated Financial Statements

18

Notes to Consolidated Financial Statements-1-

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 theconsolidated balance sheet as at March 31, 2024, and the consolidated statements ofincome, comprehensive income, changes in net assets, and cash flows for the year
then ended, and notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in allmaterial respects, the consolidated financial position of the Group as at March 31, 2024,
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 inJapan. Our responsibilities under those standards are further described in the Auditor’s
Responsibilities for the Audit of the Consolidated Financial Statements section of ourreport. We are independent of the Group in accordance with the ethical requirementsthat are relevant to our audit of the consolidated financial statements in Japan, and wehave fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of mostsignificance in our audit of the consolidated financial statements of the current period.
These matters were addressed in the context of the audit of the consolidated financial
statements as a whole, and in forming the auditor’s opinion thereon, and we do notprovide 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 (7) “Reserves for Possible We addressed the matter in our audit
Losses on Loans” in Note 5 “Standards of primarily through the following audit
procedures:
Accounting Method,” the Group
recognizes the reserves for loan losses(1) Evaluation of design and operatingbased on the internally establishedeffectiveness of the Group’s internal
standards for self-assessment of loans
controls
and for write-offs and reserves. The
standards consider the obligor’s financial
We obtained an understanding,condition, valuation of collateral andevaluated the design and tested the
expectation of future economic conditions.
operating effectiveness of the following
controls over the Group’s process for
The Group makes necessary adjustment
establishing the reserves for loan losses.
to expected loss amount for loan portfolios
with similar characteristics of credit risk,･ Controls for framework to evaluate andwhich are highly likely to incur losses
monitor obligor ratings and selfbased on the future prospects of external
assessment of loans
environments utilizing their credit risk
･ Controls that evaluate the expected
management framework. Specifically, thefuture cash flows used to determineGroup makes additional reserves as
reserve amounts
qualitative adjustments for specific-2-Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report

Description of Key Audit Matter
Auditor’s Response･ Controls that evaluate and approve theportfolios where the risk of possible losses
adjustments to reflect management’s
considering the future prospects of theconsideration including identification of
external environment is not fully reflected
specific loan portfolios where losses arein the historical loss rates based on thelikely to occur and determination of theobligor’s internal credit ratings andmethod for adjusting the reserves forbankruptcy records as of the end of theloan losses.
fiscal year and also the qualitative
adjustments have a significant impact on(2) Substantive procedures
the consolidated financial statements andcan be continuously calculated based on a In assessing “Forecast for obligors used
for assigning internal credit ratings andreasonable estimate.
for discounted cash flow method”, we
The Group has Loans of ¥92,778,781
have primarily performed the following
million, which represent approximately
audit procedures:
33% of total assets, and the Reserves for･ Considered both quantitative andPossible Losses on Loans of ¥787,848
qualitative perspective, various risks,million as of March 31, 2024. Of thissuch as industry, sector and financial
amount, the necessary adjustment to thecondition of the obligor in determining
expected loss amount is ¥15,378 million.
samples of obligors.
Of the Reserves for Possible Losses･
Made inquiry of several personnel/
recorded on the consolidated balance
management to evaluate
sheet, corporate loans managed byappropriatenessMizuho Bank, Ltd account for the largeof management’s evaluation ofpart of the amount.
obligors’ ability to earn future revenue
In estimating the reserves for loan losses,･ Compared external industry report,
management uses several assumptions.
obligor’s publicly available information
As described in “Critical Accounting
and information reported by the media
Estimates”, the Group considers “Forecast
to evaluate appropriateness offor obligors used for assigning internalmanagement’s evaluation of obligor’s
credit ratings and for discounted cash flowbusiness plan
method” and “Forecast of the external
environment used for making necessary･ Read supporting documentation andadjustment to expected loss” as major
tested consistency with financial
assumptions.
information of the obligor to evaluate
appropriateness of management’s“Forecast for obligors used for assigningevaluation of obligor’s substantial
internal credit ratings and for discounted
financial condition
cash flow method” is based on the obligors’
earnings, debt repayment status, industry
In assessing “Forecast of the external
characteristics, contents and progress ofenvironment used for making necessary
business plan and their earnings
adjustment to expected loss”, we havecapabilities based on the future outlook ofprimarily performed the following audit
business environments. As the obligors’
procedures.
ability of earning a profit is impacted by･ Compared forecasted GDP growthinternal and external business
rate, energy prices, financial indicesenvironment, degree of uncertainty is highsuch as interest rates and exchange
and determining these assumptions
rates, the future outlook of theinvolves management’s subjective
business environment for eachjudgment.
industry, and increased rates of labor“Forecast of the external environment
costs with external economic forecast
used for making necessary adjustment toreports, inspected underlying
expected loss” is based on
documents and made inquiries to themacroeconomic scenarios, specifically, therelevant department in order toGroup incorporates the estimated impact
evaluate macroeconomic scenarios set
resulting from the trends in monetaryby management.
policy as well as the prolonged impact of･
Involved our specialist in calculating
the Russia-Ukraine situation that include
certainassumptions, where complex,
the forecasted GDP growth rate, energy
todetermineadjustments to expected
prices, financial indices such as interest
loss
rates and exchange rates, the future
outlook of the business environment byindustry and increased rates of laborcosts.
-3-

Description of Key Audit Matter
Auditor’s Response
The Group’s macroeconomic scenarios
are especially based on the future outlookof business environment for each industry,
which involve high degree of uncertainty
and management’s subjective judgment.
These major assumptions used for
estimating the reserves for loan losses
involve significant judgment bymanagement and have a significant impact
on the financial statements. In addition,changes in estimates would significantly
impact on the Group’s financial positionand operating results.
Accordingly, we have identified thereasonableness of Reserves for Possible
Losses on Corporate Loans as a key audit
matter.
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 We addressed the matter in our audit
primarily through the following audit
Conditions of Financial Instruments” in“Financial Instruments,” the Group carries procedures:various types of over-the-counter(1) Evaluation of design and operating
derivatives for banking and certain
effectiveness of the Group’s internal
trading activities and for securities related
controls
business at certain subsidiaries.
obtained an understanding,
The Group discloses in 2. “Matters relating We
evaluatedthe design and tested theto fair value of financial instruments andoperatingeffectivenessof the following
breakdown of fair value by level” incontrols
overtheGroup’sderivatives fair
“Financial instruments” related to valuation
valuation
processes:
models and inputs used as well as
financial instruments classified within Level･ Controls for appropriateness of
3 of the fair value hierarchy recorded on the
adoption of or changes to valuation
consolidated balance sheet.
techniques and periodic monitoring of
the current valuation techniques
The Group carries financial assets andperformed by middle-officeliabilities at fair value of ¥21,381,444
million and ¥13,836,028 respectively, as of ･ Controls over significant inputs in the
March 31, 2024. Among those, derivative
fair value measurements performed byassets and liabilities are ¥2,606,667
middle-office and back-officemillion and ¥3,818,518 million,(2) Substantive procedures
respectively. Derivative transactions,which are measured at fair value using
We have primarily performed thesignificant unobservable inputs that are
following audit procedures:supported by little or no market activity･ Involved our specialists and inspected
and classified within Level 3 of the fairthe outcome of the Group’s
value hierarchy, are presented net ofindependent price verification (IPV)¥12,648 million in 2. “Matters relating toprocess and assessed any issues infair value of financial instruments andthe fair value measurement identified
breakdown of fair value by level” inthrough IPV and evaluated the“Financial instruments”.
management judgment.
In calculating fair value of Level 3･ Evaluated significant unobservable
derivatives, management utilizes internallyinputs by comparing the inputs with
developed option pricing models andthird-party market information, where
discount cash flow models andavailable. To select samples, we
unobservable inputs such as correlationconsidered the risks in terms of the
between interest rates and foreign
degree of management’s bias involved
exchange rates and volatility which are
in setting those unobservable inputs asdetermined based on customary businesswell as the quantitative impact on thepractice within industry and should reflect
fair value measurement.
changes in the market on a timely manner.
-4-

Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report

Description of Key Audit Matter
Determination of these valuation
techniques requires significant judgments
as complexity involves in certain
assumptions used in the calculation andno valuation techniques are required in thefinancial reporting framework.
Unobservable inputs used bymanagement to estimate the fair value ofthese 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 fairvalue measurement of the Group’s financial
instruments and would significantly impact
on the Group’s financial position andoperating results.
Accordingly, we have identified the fairvalue measurement of derivatives
classified within Level 3 as a key audit
matter.

Auditor’s Response･ Involved our specialists and evaluatedwhether the fair value calculated by the
management for each transaction waswithin an acceptable range bycomparing it with the fair value
calculated by us using our own
valuation techniques. To selectsamples, we considered thequantitative impact on the fair value
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 theother information.
Our opinion on the consolidated financial statements does not cover the otherinformation and we do not express any form of assurance 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 in accordance with accounting principles generally
accepted in Japan, and for such internal control as management determines isnecessary to enable the preparation of consolidated financial statements that are freefrom material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible forassessing the Group’s ability to continue as a going concern and disclosing, as requiredby accounting principles generally accepted in Japan, matters related to going concern.
The Audit Committee is responsible for overseeing the Group’s financial reporting
process.

-5-

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 free from material misstatement, whether due to fraud or error,
and to issue an auditor’s report that includes our opinion. Misstatements can arise fromfraud 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 thebasis 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 theaudit. 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 and appropriate
to provide a basis for our opinion.
・ Consider internal control relevant to the audit in order to design audit proceduresthat are appropriate in the circumstances for our risk assessments, while thepurpose 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 ofaccounting estimates and related disclosures made by management.
・ Conclude on the appropriateness of management’s use of the going concern basis ofaccounting 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 therelated disclosures in the consolidated financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date 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 theentities or business activities within the Group to express an opinion on the
consolidated financial statements. We are responsible for the direction, supervisionand performance of the group audit. We remain solely responsible for our audit
opinion.
We communicate with the Audit Committee regarding, among other matters, theplanned scope and timing of the audit and significant 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 theconsolidated 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, actions taken to eliminate threats or safeguards
applied to reduce threats to an acceptable level.
From the matters communicated with the Audit Committee, we determine those mattersthat were of most significance in the audit of the consolidated financial statements ofthe current period and are therefore the key audit matters. We describe these mattersin our auditor’s report unless law or regulation precludes public disclosure about thematter 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.

-6-

Financial Data of Mizuho Financial Group, Inc.

Independent Auditor’s Report

Convenience Translation
The U.S. dollar amounts in the accompanying consolidated financial statements withrespect to the year ended March 31, 2024 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 to theconsolidated financial statements.

Fee-related Information
The fees for the audits of the financial statements of Mizuho Financial Group, Inc. andits subsidiaries and other services provided by us and other EY member firms for theyear ended March 31, 2024 are 5,899 million yen and 626 million yen, respectively.
Interest Required to Be Disclosed by the Certified Public Accountants Act ofJapan
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.
Ernst & Young ShinNihon LLC
Tokyo, Japan
July 31, 2024

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-7-

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements
1. Consolidated Financial Statements and Others(1) Consolidated Financial Statements(a) Consolidated Balance Sheet
Thousands of
U.S. dollars
2024

Millions of yen
As of March 31,
AssetsCash and Due from Banks (*5)
Call Loans and Bills Purchased
Receivables under Resale Agreements
Guarantee Deposits Paid under Securities
Borrowing Transactions
Other Debt Purchased
Trading Assets (*5)
Money Held in Trust
Securities (*1, *2, *3, *5, *13)
Loans and Bills Discounted (*3, *4, *5, *6)
Foreign Exchange Assets(*3, *4)
Derivatives other than for Trading Assets
Other Assets (*3, *5)
Tangible Fixed Assets (*8, *9)2024¥

72,968,900
1,259,964
20,533,096

Buildings
Land (*7)
Lease Assets
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Software
Goodwill
Lease Assets
Other Intangible Fixed Assets
Net Defined Benefit AssetDeferred Tax Assets
Customers’ Liabilities for Acceptances andGuarantees (*3)
Reserves for Possible Losses on Loans
Reserve for Possible Losses on Investments
Total Assets¥¥

67,152,100
1,386,895
11,693,419$

481,961,030
8,322,087
135,621,505

2,357,463

1,897,429

15,571,089

4,174,891
21,381,444
583,647
38,245,422
92,778,781
2,259,701
2,606,667
7,364,363
1,139,470

3,836,735
17,404,494
514,60737,363,140
88,687,155
2,408,587
2,184,875
8,689,547
1,105,851

27,575,237
141,224,861
3,855,000
252,611,770
612,805,686
14,925,369
17,217,087
48,641,763
7,526,221

330,325
613,649
16,42347,074
131,997
725,142
383,863
116,417
4,421
220,440
847,116
135,428

325,241
618,787
6,333
43,679111,808
572,719375,322
49,613
2,098
145,685
859,271
316,168

2,181,803
4,053,163
108,474
310,924
871,842
4,789,577
2,535,422
768,936
29,2001,456,010
5,595,217
894,504

10,098,502

8,905,643

66,700,805(787,848)(4)(720,437)(1)(5,203,751)(26)

254,258,203$ 1,840,635,079

278,672,151

-8-

2023

¥

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

2023

Thousands of
U.S. dollars
2024

150,498,976
13,788,347
1,814,873
25,735,560$ 1,055,843,249
76,555,693
10,968,837
251,672,496

1,306,422

757,8428,628,943

1,165,988
13,836,028
5,449,852
900,034
565,736
11,999,712
983,877
3,818,518
6,618,151
185,977
2,527

1,782,111
12,698,007
4,155,480
671,552
477,141
11,371,189
1,534,097
2,749,138
7,777,025
126,694
2,381

7,701,373
91,387,239
35,996,380
5,944,742
3,736,697
79,258,335
6,498,527
25,221,387
43,713,018
1,228,381
16,69067,151

68,429443,533

541

539

3,573

8,645
19,321
10,37825,125
3,781
27,05815,04913,706
13,695
7,798
3,352
22,391

57,100127,615
68,546
165,951
24,973
178,718

57,58358,711

380,336

Millions of yen
As of March 31,
Liabilities
Deposits (*5)
Negotiable Certificates of Deposit
Call Money and Bills Sold
Payables under Repurchase Agreements (*5)
Guarantee Deposits Received under Securities
Lending Transactions (*5)
Commercial Paper
Trading Liabilities
Borrowed Money (*5, *10)
Foreign Exchange Liabilities
Short-term Bonds
Bonds and Notes (*11)
Due to Trust Accounts
Derivatives other than for Trading Liabilities
Other Liabilities
Reserve for Bonus Payments
Reserve for Variable Compensation

2024¥

159,854,668
11,590,532
1,660,682
38,103,216

Net Defined Benefit Liability
Reserve for Director and Corporate Auditor
Retirement Benefits
Reserve for Possible Losses on Sales of Loans
Reserve for Contingencies
Reserve for Reimbursement of Deposits
Reserve for Reimbursement of Debentures
Reserves under Special Laws
Deferred Tax Liabilities
Deferred Tax Liabilities for Revaluation Reservefor Land (*7)
Acceptances and Guarantees
Total Liabilities
Net Assets
Common Stock
Capital Surplus
Retained Earnings
Treasury Stock¥

8,905,643

66,700,805¥

268,360,016

10,098,502¥

245,049,740$ 1,772,523,223¥

2,256,767
1,129,730
5,538,891(9,402)¥

2,256,767
1,129,267
5,093,911(8,786)$

14,905,990
7,461,889
36,584,484(62,100)

Total Shareholders’ Equity

8,915,987

8,471,160

58,890,270

Net Unrealized Gains (Losses) on Other Securities
Deferred Gains (Losses) on Hedges
Revaluation Reserve for Land (*7)
Foreign Currency Translation Adjustments
Remeasurements of Defined Benefit Plans
Own Credit Risk Adjustments, Net of Tax

929,815(298,280)
126,879
344,250214,337(452)

564,495(358,102)
129,321
144,093
182,30619

6,141,446(1,970,145)
838,038
2,273,778
1,415,700(2,985)

Total Accumulated Other Comprehensive Income

1,316,550

662,133

8,695,838

5
79,591

5
75,16333
525,700

10,312,135

9,208,463

68,111,856

254,258,203$ 1,840,635,079

Stock Acquisition Rights
Non-controlling Interests
Total Net Assets
Total Liabilities and Net Assets¥

278,672,151-9-¥

(b) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,
Ordinary Income
Interest Income
Interest on Loans and Bills Discounted
Interest and Dividends on Securities
Interest on Call Loans and Bills Purchased
Interest on Receivables under Resale
Agreements
Interest on Securities Borrowing Transactions
Interest on Due from Banks
Other Interest Income
Fiduciary Income
Fee and Commission Income
Trading Income
Other Operating Income
Other Ordinary Income
Recovery of Written-Off Claims

2024¥

Other (*1)
Ordinary Expenses
Interest Expenses
Interest on Deposits
Interest on Negotiable Certificates of Deposit
Interest on Call Money and Bills Sold
Interest on Payables under Repurchase
Agreements
Interest on Securities Lending Transactions
Interest on Commercial Paper
Interest on Borrowed Money
Interest on Short-term Bonds
Interest on Bonds and Notes
Other Interest Expenses
Fee and Commission Expenses
Trading Expenses
Other Operating Expenses
General and Administrative Expenses
Other Ordinary Expenses
Provision for Reserves for Possible Losses on
Loans
Other (*2)
Ordinary Profits¥- 10 -

8,744,458
5,772,536
2,787,517
674,386
33,5212023¥

5,778,772
3,178,214
1,750,984
392,104
13,898$57,757,318
38,127,714
18,411,605
4,454,332
221,406

721,327

281,313

4,764,379

44,916
1,060,345
450,52161,4871,060,235
1,090,397
360,724
399,078
5,511

22,411
498,504
218,996
58,958915,534
992,631452,853
180,579
7,730

296,671
7,003,599
2,975,700
406,122
7,002,873
7,202,093
2,382,589
2,635,918
36,400393,566
7,830,410
4,884,924
1,738,287
520,886
22,927

172,848
4,989,165
2,217,636
840,042
209,222
17,1402,599,511
51,720,013
32,265,019
11,481,420
3,440,462
151,433

1,754,457

651,987

11,588,223

27,63583,741
66,293
112
315,392
355,187
203,627
363,813
189,710
1,663,951
524,383

8,734
51,77634,37771
238,031
166,251
163,841
657,923
280,386
1,445,283
224,095

182,529
553,110437,866739
2,083,170
2,346,017
1,344,960
2,402,992
1,253,038
10,990,429
3,463,560

78,672

65,698519,630

445,710

158,396

2,943,923

914,047¥

789,606$

6,037,298

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,
Extraordinary Gains
Gains on Disposition of Fixed Assets
Gains on Cancellation of Employee Retirement
Benefit Trust
Extraordinary Losses
Losses on Disposition of Fixed Assets
Losses on Impairment of Fixed Assets (*3)
Losses on Sales of Shares of Affiliates
Other Extraordinary Losses

2024¥

58,684
5,946

2023
¥

50,8883,260$

387,608
39,27352,73847,627348,335

17,697
9,304
7,963
–
429

61,5307,462
51,5452,301
220116,889
61,45352,595–
2,833

Income before Income Taxes

955,035

778,964

6,308,025

Income Taxes – Current
Income Taxes – Refund of Income Taxes
Income Taxes – Deferred

279,674(3,480)(4,459)180,716(9,911)
48,0291,847,252(22,985)(29,451)

Total Income Taxes

271,735

218,834

1,794,815

Profit683,299

560,130

4,513,203

Profit Attributable to Non-controlling Interests
Profit Attributable to Owners of Parent

4,305
¥

- 11 -

678,993

4,602¥

555,527

28,434$4,484,762

Consolidated Statement of Comprehensive Income
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,

2024

Profit¥Other Comprehensive Income (*1)
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¥(Breakdown)Comprehensive Income Attributable to Owners of
ParentComprehensive Income Attributable to Noncontrolling Interests¥

683,299
661,740
367,374
60,598190,357
28,852(471)¥

15,030560,130(282,463)(157,244)(281,515)
127,170
13,29842$

15,783

4,513,203
4,370,805
2,426,512
400,250
1,257,311
190,568(3,110)99,273

1,345,039¥

277,666$

8,884,009

1,335,852¥

273,298$

8,823,328

9,187- 12 -

2023

4,368

60,680Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements(c) Consolidated Statement of Changes in Net Assets
Millions of yen
Shareholders’ Equity
For the Fiscal Year ended
March 31, 2024
Balance as of the beginningof the period
Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

CommonStockCapitalSurplus

Total
Treasury
Shareholders’
Stock
EquityRetained
Earnings¥ 2,256,767 ¥ 1,129,267 ¥

5,093,911 ¥(8,786) ¥(1,883)2,256,767

1,129,267

5,092,027

8,471,160(1,883)(8,786)

8,469,276

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
Change in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of theperiod(234,802)(234,802)

678,993

678,9930(3,383)(3,383)

2,766

2,767

2,441

2,441

462

462

231

–

463

¥ 2,256,767 ¥ 1,129,730 ¥

231

446,864(616)

446,710

5,538,891 ¥(9,402) ¥8,915,987

Accumulated Other Comprehensive Income

For the Fiscal Year ended
March 31, 2024
Balance as of the beginningof the period
Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
PoliciesNet
Unrealized
Gains(Losses) on
Other
Securities¥

564,495 ¥Deferred
Gains(Losses) on
Hedges

Revaluation
Reserve forLand(358,102) ¥Foreign
Currency
Translation
Adjustments

129,321 ¥Stock
RemeasureTotal
Own Credit
ments ofAccumulated Acquisition
Risk
RightsDefined
Other
Adjustments,
BenefitComprehensive
Net of Tax
Plans
Income144,093 ¥

182,306 ¥19 ¥662,133 ¥Noncontrolling
Interests

5 ¥75,163 ¥–564,495(358,102)

129,321

144,093

182,306

19

662,133

Total Net
Assets9,208,463(1,883)

5

75,1639,206,579

Changes during the period(234,802)

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
Change in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of
period678,993(3,383)
2,767
2,441

462

231

¥

365,31959,822(2,441)200,157

32,031(471)

654,417–

4,428

658,845

365,31959,822(2,441)200,157

32,031(471)

654,417–

4,428

1,105,555(298,280) ¥126,879 ¥344,250 ¥214,337 ¥(452) ¥

5 ¥

79,591 ¥ 10,312,135

929,815 ¥- 13 -

1,316,550 ¥Millions of yen
Shareholders’ Equity
For the Fiscal Year ended
March 31, 2023
Balance as of the beginningof the period

CommonStockCapitalSurplus

Total
Treasury
Shareholders’
Stock
EquityRetained
Earnings¥ 2,256,767 ¥ 1,125,324 ¥ 4,756,435 ¥(8,342) ¥8,130,185

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 Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital
Surplus
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of theperiod(209,432)(209,432)

555,527555,527(255)(2,314)(2,314)

1,870

1,615

2,834

2,834

4,064

–

4,064

(11,319)(11,319)

134

(134)

–

3,943

337,475¥ 2,256,767 ¥ 1,129,267 ¥ 5,093,911 ¥(443)

340,975(8,786) ¥8,471,160

Accumulated Other Comprehensive Income

For the Fiscal Year ended
March 31, 2023
Balance as of the beginningof the period

Net
Unrealized
Gains(Losses) on
Other
Securities¥

719,822 ¥Deferred
Gains(Losses) on
Hedges

Revaluation
Reserve forLand(76,757) ¥Foreign
Currency
Translation
Adjustments

132,156 ¥Stock
RemeasureTotal
Own Credit
ments ofAccumulated Acquisition
Risk
RightsDefined
Other
Adjustments,
BenefitComprehensive
Net of Tax
Plans
Income2,346 ¥

169,652 ¥(23) ¥

947,197 ¥Noncontrolling
Interests

Total Net
Assets94 ¥ 123,555 ¥ 9,201,031

Changes during the period(209,432)

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 Decreasing ofEquity Method Affiliates
and Others
Transfer from Retained
Earnings to Capital
Surplus
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of theperiod555,527(2,314)
1,615
2,834

4,064

(11,319)–¥(155,326)(281,345)(2,834)

141,746

12,65442(285,063)(88)(48,392)(333,544)(155,326)(281,345)(2,834)

141,746

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

7,431

564,495 ¥(358,102) ¥129,321 ¥144,093 ¥

182,306 ¥19 ¥662,133 ¥- 14 -

5 ¥75,163 ¥ 9,208,463

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements
Thousands of U.S. dollars
Shareholders’ Equity
For the Fiscal Year ended
March 31, 2024
Balance as of the beginningof the period
Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
Policies

CommonStock$ 14,905,990 $CapitalSurplus

Total
Treasury
Shareholders’
Stock
EquityRetained
Earnings

7,458,830 $ 33,645,383 $(58,031) $ 55,952,179(12,437)

14,905,990

7,458,830(12,437)

33,632,939(58,031)55,939,735

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
Change in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of theperiod(1,550,871)(1,550,871)

4,484,762

4,484,762

0(22,344)(22,344)

18,26918,276

16,122

16,122

3,051

3,051

1,525

–
$ 14,905,990 $

3,058

1,525

2,951,545(4,068)

7,461,889 $ 36,584,484 $

2,950,528(62,100) $ 58,890,270

Accumulated Other Comprehensive Income

For the Fiscal Year ended
March 31, 2024
Balance as of the beginningof the period
Cumulative Effects of
Changes in Accounting
Policies
Balance as of the beginningof the period reflecting
Changes in Accounting
PoliciesNet
Unrealized
Gains(Losses) on
Other
Securities

Deferred
Gains(Losses) on
Hedges

Revaluation
Reserve forLand$ 3,728,500 $ (2,365,270) $Foreign
Currency
Translation
Adjustment

854,167 $Stock
NonRemeasureTotal
Own Credit
ments ofAccumulated Acquisition controlling
Risk
RightsInterests
Defined
Other
Adjustments,
BenefitComprehensive
Net of Tax
Plans
Income951,737 $ 1,204,134 $125 $4,373,401 $33 $ 496,453 $ 60,822,080–

3,728,500(2,365,270)

854,167

951,737

1,204,134

125

4,373,401

Total Net
Assets(12,437)33

496,453

60,809,636

Changes during the period(1,550,871)

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
Change in Retained
Earnings by Decreasing ofEquity Method Affiliates
and Others
Net Changes in Items
other than Shareholders’EquityTotal Changes during theperiodBalance as of the end of theperiod

4,484,762(22,344)
18,276
16,122

3,051

1,525

2,412,939

395,125(16,122)

1,322,040

211,565(3,110)4,322,437–

29,247

4,351,684

2,412,939

395,125(16,122)

1,322,040

211,565(3,110)4,322,437–

29,247

7,302,212(2,985) $8,695,838 $33 $ 525,700 $$ 6,141,446 $ (1,970,145) $838,038 $ 2,273,778 $ 1,415,700 $- 15 -

68,111,856

(d) Consolidated Statement of Cash Flows
Thousands of
U.S. dollars
2024

Millions of yen
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 andCorporate Auditor Retirement Benefits
Increase (Decrease) in Reserve for Reimbursementof Deposits
Increase (Decrease) in Reserve for Reimbursementof Debentures
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 Negotiable Certificates of
Deposit
Increase (Decrease) in Borrowed Money (excluding
Subordinated Borrowed Money)
Decrease (Increase) in Due from Banks (excluding
Due from Central 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

2024
¥

¥

- 16 -

2023

955,035 ¥173,173
7,963
5,020(26,221)778,964
163,166
51,545
3,771(11,889)$

42,729(71,488)282,225

3

(106)

19

(6,403)

13,740(42,291)

3,157

6,115

20,85249,304

1,746

325,653

145

102

957

102,323(1,638)69,067(4,506)

675,845(10,819)

2

(17)

13

(3,316)(3,924)(21,902)

17,327(2,706)

114,445(5,772,536)
4,884,924(24,038)5(1,061,035)
3,358(3,178,214)
2,217,636
50,63322(662,938)
4,202(38,127,714)
32,265,019(158,771)
33(7,008,157)
22,179(52,738)(47,627)(348,335)(2,604,912)
176,157(3,869,757)
2,855,475(17,205,495)
1,163,520(341,491)

118,439(2,255,554)

997,746(46,028)

6,590,132(96,019)
5,381,997(2,092,530)
10,000,741(634,207)
35,548,196(3,198,510)(3,395,330)(21,126,221)

1,278,447(2,436,997)

8,444,167(324,286)(44,557)(2,141,915)(7,704,413)

1,029,697(50,887,800)(460,034)

442,660(3,038,533)

9,511,807(854,467)

4,808,324(155,216)

62,825,673(5,643,771)

548,579(414,405)

3,623,375

379,335
223,630 ¥357,779(837,977)

2,505,515
1,477,080$

6,308,025
1,143,811
52,59533,157(173,190)

Financial Data of Mizuho Financial Group, Inc.

Consolidated Financial Statements

Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,

2024

2023

Increase (Decrease) in Short-term Bonds (Liabilities) ¥Increase (Decrease) in Bonds and Notes
Increase (Decrease) in Due to Trust Accounts
Interest and Dividend Income - cash basis
Interest Expenses - cash basis
Other - net

88,594 ¥441,113(550,220)5,571,589(4,756,988)(831,529)(60,026)
887,829
366,8123,027,958(2,028,391)
1,108,820

Subtotal
Cash Refunded (Paid) in Income Taxes

2,172,672(287,693)

9,000,617(133,371)

14,350,541(1,900,217)

1,884,9788,867,246

12,450,317(78,051,713)
37,149,439
43,228,988(78,560)
8,692(63,123)(193,888)
12,3531,240(80,978,246)
44,652,769
43,032,475(3,843)79,409(64,845)(118,331)
9,813–(515,533,110)
245,372,780
285,528,322(518,890)
57,410(416,928)(1,280,634)
81,591
8,190(39,148)(3,533)(258,573)

7,927

–

52,357

1,982,207

6,605,667

13,092,516––
499,000(490,310)

20,000(35,000)
208,500(544,615)––
3,295,904(3,238,507)

153

2,219

1,010

(61)
(234,786)(324)(209,457)(402)(1,550,766)(3,569)(10,459)(23,573)(800)(41,307)(5,284)(3,383)2,767(2,314)
1,615(22,344)
18,276(230,990)(611,143)(1,525,693)

1,703,938

827,611

11,254,544

5,340,133

15,689,381

35,271,684

65,825,681

50,136,299

434,779,927

71,165,815 ¥

65,825,681

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 the scope of consolidation)
Proceeds from Sale of Stocks of Subsidiaries(affecting the scope of consolidation)
Net Cash Provided by (Used in) Investing Activities
Cash Flow from Financing Activities
Proceeds from Subordinated Borrowings
Repayments of Subordinated Borrowings
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 from Purchase of Shares of Subsidiaries
not resulting in change in scope of consolidation
Payments for Repurchase of Treasury Stock
Proceeds from Sale of Treasury Stock
Net Cash Provided by (Used in) Financing Activities
Effect of Foreign Exchange Rate Changes on Cash andCash Equivalents
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at the beginning of theperiodCash and Cash Equivalents at the end of period (*1)¥

- 17 -$$

585,165
2,913,560(3,634,214)
36,800,455(31,420,000)(5,492,265)

470,051,618

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements[Notes to Consolidated Financial Statements](Basis for Presentation of Consolidated Financial Statements and Principles of Consolidation)
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 of Japan and the Financial Instruments and Exchange Law, and in conformity with accounting principles
generally accepted in Japan (“Japanese GAAP”) which are different in certain respects from the application anddisclosure requirements of International Financial Reporting Standards.
Certain items presented in the consolidated financial statements which were previously filed with the Director Generalof 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 ¥151.40=US$1.00, the foreign exchange rate on March 31, 2024 has been used fortranslation. 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(1) Number of consolidated subsidiaries: 219
Names of principal companies:
Mizuho Bank, Ltd.
Mizuho Trust & Banking Co., Ltd.
Mizuho Securities Co., Ltd.
(Changes in scope of consolidation)
During the period, Greenhill & Co., Inc. and 58 other companies were newly included in the scope of consolidation asa result of a business acquisition and other factors.
During the period, Mizuho Securities Principal Investment Co., Ltd. and 17 other companies were excluded from thescope of consolidation as a result of dissolution and other factors.
(2) Number of non-consolidated subsidiaries: 0
3. Application of the Equity Method(1) Number of non-consolidated subsidiaries under the equity method: 0(2) Number of affiliates under the equity method: 25
Names of principal companies:
Custody Bank of Japan, Ltd.
Orient Corporation
Mizuho Leasing Company, Limited(Changes in scope of the equity method)
During the period, Kisetsu Saison Finance (India) Private Ltd. and another company were newly included in the scopeof the equity method as a result of increasing the shares and another factor.
During the period, LINE Bank Preparatory Company and another company were excluded from the scope of the equity
method as a result of dissolution and another factor.
(3) Number of non-consolidated subsidiaries not under the equity method: 0- 18 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(4) Affiliates not under the equity method:
Pec International Leasing Co., Ltd.
Affiliates not under the equity method are excluded from the scope of the equity method since such exclusion has nomaterial effect on MHFG’s consolidated financial statements in terms of Net Income (Loss) (amount corresponding to
MHFG’s equity position), Retained Earnings (amount corresponding to MHFG’s equity position), Accumulated Other
Comprehensive Income (amount corresponding to MHFG’s equity position) and others.
4. Fiscal Years of Consolidated Subsidiaries(1) Balance sheet dates of consolidated subsidiaries are as follows:
December 31

52 companies

January 31

1 company

March 31166 companies

From the fiscal year ended March 31, 2024, Mizuho Bank (USA) and eight other companies have changed theirbalance sheet dates from December 31 to March 31. The accounting periods in the current fiscal year have been 15
months from January 1, 2023 to March 31, 2024.
(2) The consolidated subsidiary with the balance sheet date of January 31 and 15 companies of the consolidated
subsidiaries with the balance sheet date of December 31 were 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.

- 19 -

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 this fiscal year, including thegains or losses resulting from any change in the value between the beginning and the end of this 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 of income.
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 fair value,
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 this fiscal year, thegains or losses resulting from any change in the value of securities and other monetary claims between the beginningand the end of this fiscal year, and the gains or losses resulting from any change in the value of financial derivatives
between the beginning and the end of this fiscal year, assuming they are settled at the end of this 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(i) Bonds held to maturity are stated at amortized cost (straight-line method) and determined by the moving averagemethod. Investments in affiliates not under the equity method are stated at acquisition cost and determined by themoving average method. 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 anddetermined by the moving average method.
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.
(ii) Securities which are held as trust assets in Money Held in Trust accounts are valued in the same way as describedin (i) above.
(4) Derivative Transactions
Derivative transactions (other than transactions for trading purposes) are valued at fair value.
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.
(5) Depreciation of Fixed Assets(a) 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- 20 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(b) Intangible Fixed Assets (Except for Lease Assets)
Amortization of Intangible Fixed Assets is computed by the straight-line method. Development costs for internallyused software are capitalized and amortized over their estimated useful lives of mainly from five to ten years as
determined by MHFG and consolidated subsidiaries.
(c) Lease Assets
Depreciation of lease assets booked in Tangible Fixed Assets and Intangible Fixed Assets which are concernedwith finance lease transactions that do not transfer ownership is mainly computed by the same method as the one
applied to fixed assets owned by us.
(6) Deferred Assets
Bond issuance costs are expensed as incurred.
(7) Reserves for Possible Losses on Loans
Reserves for Possible Losses on Loans of major domestic consolidated subsidiaries are maintained in accordancewith internally 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 theamounts recoverable under guarantees.
For claims extended to Intensive Control Obligors and Obligors with Restructured Loans and others, 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 is applied, under which the reserve isdetermined 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 is 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 eachindividual 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 based on analyses of the political and economic climates of thecountries.
All claims are assessed by each claim origination department in accordance with the internally established “Selfassessment Standard,” and the results of the assessments 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 claims balances. The total directly written-off amounts are ¥107,611 million($710,772 thousand) and ¥87,534 million as of March 31, 2024 and 2023, respectively.
Other consolidated subsidiaries provide the amount necessary to cover the loan losses based upon past experienceand other factors for general claims and the assessment for each individual loan for other claims.

- 21 -

(Additional Information)
Expected losses which are assumed may occur in the future due to difficulties in foreign currency cash management
influenced by economic sanctions against Russia, in claims for which transfer risk has not been avoided, arerecognized as Reserve for Possible Losses on Loans to Restructuring Countries. The expected losses are calculated
based on evaluation of Russian country risk and past defaults which are announced by external rating firms and others.
The amount of Reserve for Possible Losses on Loans to Restructuring Countries for the fiscal year ended March 31,
2024 is ¥34,174 million ($225,719 thousand), which includes ¥32,497 million ($214,643 thousand) against claims
related to Russia.
(8) 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.
(9) 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 this fiscal year, based on the estimated future payments.
(10) 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 Mizuho Financial Group, Inc.,, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., Mizuho
Securities Co., Ltd., and certain consolidated subsidiaries, is maintained to provide estimated payments based on thestandard amount regarding variable compensation of this fiscal year.
(11) 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
this fiscal year, based on the internally established standards.
(12) 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.
(13) Reserve for Contingencies
Reserve for Contingencies is maintained to provide against possible losses from contingencies which are not coveredby other specific reserves. The balance is an estimate of possible future losses considered to require a reserve.
(14) Reserve for Reimbursement of Deposits
Reserve for Reimbursement of Deposits is provided against the losses for the deposits derecognized from liabilities atthe estimated amount of future claims for withdrawal by depositors.
(15) Reserve for Reimbursement of Debentures
Reserve for Reimbursement of Debentures is provided for the debentures derecognized from liabilities at the estimatedamount for future claims.
(16) Reserve under Special Laws
Reserve under Special Laws is Reserve for Contingent Liabilities from Financial Instruments and Exchange. 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 thepurchase and sale of securities, other transactions or derivative transactions.
(17) 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 unrecognizedactuarial differences are recognized as follows:- 22 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
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 andretirement benefit expenses.
(18) Assets and Liabilities denominated in foreign currencies
Assets and Liabilities denominated in foreign currencies and accounts of overseas branches of domestic majorityowned consolidated banking subsidiaries and a domestic majority-owned consolidated trust banking subsidiary aretranslated into Japanese yen primarily at the exchange rates in effect at the consolidated balance sheet date, with the
exception of the investments in affiliates not under the equity method, which are translated at exchange rates prevailingat the time of acquisition.
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.
(19) 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 arerecognized at the point in time on transaction date with the customer or at the point in time when the related service isprovided.
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 charges 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 asconsideration for services related to transfer agent business and associated services, 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.
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 therelated service is provided.

- 23 -

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
in time on transaction date with the customer. Service charges for electronic banking are mainly monthly basic usage
fees and recognized over time in the period when the related service is provided. Financial advisory fees are received
as consideration for services supporting market research and business strategy planning, which are recognized overtime in the period when the related service is provided. Service charges for software development are recognized
mainly over time 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.
(20) 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 majorityowned consolidated banking subsidiaries and domestic majority-owned consolidated trust banking subsidiaries isaccounted for in accordance with the method stipulated in the “Accounting and Auditing Treatment relating to Adoptionof Accounting Standards for Financial Instruments for Banks” (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-value monetaryclaims 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, inthe same maturity bucket.
(ii) as for hedging activities to fix the cash flows, the effectiveness is assessed based on the correlation between
a base 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 majority-owned consolidated banking subsidiaries and domestic majority-owned 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 confirmingthat the amount of the foreign currency position of the hedged monetary claims and liabilities is equal to or larger thanthat of currency-swap transactions, exchange swap transactions, and similar transactions designated as the hedging
instruments of the foreign exchange risk.
In addition to the above methods, these majority-owned subsidiaries apply the deferred method or the fair-value hedge
method to portfolio hedges of the foreign exchange risks associated with investments in majority-owned subsidiaries,
other consolidated subsidiaries and affiliates in foreign currency and Other Securities in foreign currency (except forbonds) 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 in foreign currency.

- 24 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(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 inter-company
derivatives are executed according to the criteria for appropriate outside third-party cover operations which are treatedas 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” (ASBJ Practical Solutions No. 40, March 17, 2022) are subject to thisexceptional 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(21) 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.
(22) 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.

- 25 -

(Critical Accounting Estimates)
1. Reserves for Possible Losses on Loans(1) Amount on Consolidated Balance Sheet
Millions of yen
As of March 31,
Reserves for Possible Losses on Loans

2024¥

787,848

Thousands of U.S. dollars
2023¥

720,4372024$

5,203,751(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
Calculation method is stated on “4. Standards of Accounting Method (7) Reserves for Possible Losses on Loans.”
In addition, we have updated the expected loss amount for portfolios with similar characteristics of credit risk, which
are highly likely to incur losses. We judged the possibility to incur losses based on the future prospects of external
environments utilizing our credit risk management framework. Specifically, we estimated qualitative adjustments for
specific portfolios where the risk of possible losses considering the future prospects of the external environment is not
fully reflected in the historical loss rates based on the obligor’s internal ratings and bankruptcy records as of the endof the fiscal year. The qualitative adjustments have a significant impact on the consolidated financial statements andcan be continuously calculated based on a reasonable estimate. The amount is ¥15,378 million ($101,571 thousand)and ¥42,356 million as of March 31, 2024 and 2023, respectively.
(b) Major assumptions
Major assumptions are “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.”“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, contents and progress of business plan andobligor’s earnings capabilities based on the future outlook of business environments.
“Future prospects of external environments used for updating the estimate of expected loss amount” is determinedbased on macroeconomic scenario and the probability of the occurrence of various risks. More specifically, we usedscenarios based on developments in monetary policy and their ripple effect, the potential prolongation of the situationin Russia and Ukraine, etc. These scenarios include the forecasted GDP growth rate, energy prices, financial variables
including interest rates and exchange rates, the future outlook of the business environment for specific portfolio
segments, and increased rate of labor costs, etc. Expected losses effected by these impacts in the future arerecognized 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
The amount is stated on “(Financial Instruments) 2. Matters relating to fair value of financial instruments and breakdownof fair value by level (1) Financial instruments recorded at fair value in the consolidated balance sheet.”- 26 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
Calculation method is stated on “(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 assumptions
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
estimates such 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.
3. Net Defined Benefit Asset and Net Defined Benefit Liability(1) Amount on Consolidated Balance Sheet
The amount is stated on “(Reserve for Employee Retirement Benefits).”(2) Information for understanding the contents of critical accounting estimates(a) Calculating method
MHFG and its certain 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 andrates of increase future compensation level.
(b) Major assumptions
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
of return 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 Assetand Net Defined Benefit Liability for the following consolidated fiscal year.

- 27 -

(Changes in Accounting Policies)(Implementation of ASU2016-13, “Measurement of Credit Losses on Financial Instruments”)
Some overseas subsidiaries which apply U.S. GAAP and are considered non-public business entities have adopted
ASU2016-13, “Measurement of Credit Losses on Financial Instruments” from the beginning of the fiscal year ended
March 31, 2024. This update has replaced the incurred loss impairment methodology under previous U.S. GAAP witha methodology that reflects expected credit losses with respect to financial instruments in the amortized cost category,and full lifetime expected credit losses have been estimated upon initial recognition and a reserve has been recognized.
In adopting the accounting standard, Retained Earnings was adjusted for the cumulative effect at the beginning of the
fiscal year ended March 31, 2024 in accordance with transitional treatment set out in the accounting standard.
As a result, at the beginning of the fiscal year ended March 31, 2024, Reserves for Possible Losses on Loans increasedby ¥1,188 million, Reserves for Contingencies increased by ¥1,485 million and Retained Earnings decreased by¥1,883 million. The impact on Per Share Information is immaterial.
(Issued but not yet Adopted Accounting Standard and Others)• “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27, October 28, 2022, Accounting Standards
Board of Japan)• “Accounting Standard for Presentation of Comprehensive Income” (ASBJ Statement No. 25, October 28, 2022,
Accounting Standards Board of Japan)• “Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No. 28, October 28, 2022, AccountingStandards Board of Japan)(1) Overview
The above accounting standards set out the treatment of the accounting classification of income taxes when othercomprehensive income is taxed and the treatment of tax effects related to the sale of shares of subsidiaries when thegroup tax sharing system is applied.
(2) Scheduled Date of Application
MHFG is scheduled to apply these accounting standards and guidance from the beginning of the consolidated fiscal
year starting on April 1, 2024.
(3) Effect of Application of these accounting standards and guidance
The effect of application of these accounting standards and guidance is under assessment.

- 28 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(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 the MHFG Group pursuant to MHFG’s basic management
policy defined under the Mizuho Financial Group’s Corporate Identity, MHFG has introduced a stock compensation
program using a trust (the “Program”) that functions as an incentive for each Director, Group Executive Officer, andOperating Officers to exert maximum effort in performing his or her duties, and also as consideration for such exertion ofeffort.
(1) Outline of the Program
The Program has adopted the Board Benefit Trust (“BBT”) framework. MHFG’s shares on the stock market will beacquired through a trust established based on the underlying funds contributed by MHFG, and MHFG’s shares will be
distributed to Directors, Executive Officers, and Operating Officers of MHFG, Mizuho Bank, Ltd., Mizuho Trust &Banking Co., Ltd., and Mizuho Securities Co., Ltd. (the “MHFG Group”) and other entities in accordance with the Rules
on Distribution of Shares to be prescribed in advance. The framework consists of the stock compensation program
based on the MHFG Group’s officers’ responsibilities and others in their respective company (“Stock CompensationI”), the stock compensation program based on the performance evaluation of the MHFG Group (“Stock CompensationII”) and the stock compensation program based on the MHFG Group’s officers’ responsibilities in their respective
company and the performance evaluation of the MHFG Group, which distributes MHFG’s shares to operating officersof MHFG and certain consolidated subsidiaries (“Stock Benefit”).
Stock Compensation I will be paid at the time of retirement in the form of shares of MHFG calculated based on their
responsibilities and others. A system is adopted which enables a decrease or forfeiture of the amount depending on
the performance of the company or the individual.
Stock Compensation II will be paid in the form of shares of MHFG and will be deferred over three years, which is
calculated based on the status of achieving financial-related indicators and evaluation of stakeholder-related indicatorsthat the Company Group regard as important in order to improve corporate value over the medium to long term. A
system is adopted which enables a decrease or forfeiture of the amount depending on the performance of the company
or the individual.
Stock Benefit will be paid in the collective form of MHFG’s share which is based on responsibilities in their respective
company and the performance evaluation of the Company Group. Reduction and forfeit of the benefit can occur in the
program.
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 Distributionof 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, 2024 was ¥5,359 million ($35,396 thousand) for 2,910 thousand shares (the carrying amount as of March 31, 2023
was ¥5,126 million for 3,231 thousand shares).

- 29 -

(Consolidated Balance Sheet)*1. The total amount of shares and investments in affiliates
Millions of yen
As of March 31,
Share

2024
¥

581,642

Investments

Thousands of U.S. dollars
2023¥

436,286

598

2024
$

572

3,841,756
3,949*2. Unsecured loaned securities, which are included in Japanese Government Bonds under Securities, are as follows:
Millions of yen
As of March 31,

2024¥

59,786

Thousands of U.S. dollars
2023¥

273,6292024$

394,887

MHFG has the right to sell or repledge some of unsecured borrowed securities, securities purchased under resaleagreements and securities borrowed with cash collateral. Such securities are as follows:
Millions of yen
Thousands of U.S. dollars
As of March 31,
Securities repledged
Securities neither repledged nor re-loaned at the endof the fisical year

2024¥

26,742,449

2023¥

15,163,883

3,710,470

2024$

2,405,207

176,634,405
24,507,727*3. Claims based on Banking Act and the Act on Emergency Measures for the Revitalization of Financial Functions are as
follows. The claims consist of those included in the accounts of bonds included in “Securities” (its principal’s redemption
and interest payments are guaranteed, in whole or in part, and the corporate bonds issue is limited to a private placementof the securities (Article 2, Paragraph 3 of the Financial Instruments and Exchange Act.)), “Loans” , “Foreign Exchanges
Assets”, accrued interest and suspense payment in “Other Assets” and “Customers’ Liabilities for Acceptances andGuarantees” in the consolidated balance sheet, and securities in the notes in case they are loans (Limited to those undera loan for use or lease agreement.).
Millions of yen
As of March 31,
Claims against Bankrupt and Substantially Bankrupt
Obligors
Claims with Collection Risk

2024¥

36,497

Claims for Special Attention
Loans Past Due for 3 Months or More
Restructured Loans
Sub-total
Normal Claims¥

Thousands of U.S. dollars
2023¥

43,8662024$

241,063

700,730

655,396

4,628,335

515,503372,433

3,404,907

456

288

3,011

515,046

372,1443,401,889

1,252,731
105,380,865¥

1,071,696
100,457,014$

8,274,313
696,042,701

Total¥ 106,633,596 ¥ 101,528,710$
704,317,014
Claims against Bankrupt and Substantially Bankrupt Obligors are claims against debtors in bankruptcy due to thecommencement of bankruptcy procedures, the commencement of reorganization proceedings, the petition for thecommencement of rehabilitation proceedings, and claims equivalent to these.
Claims with Collection Risk are claims that the debtor is not yet in a state of bankruptcy, but its financial position andbusiness performance have deteriorated, and it is highly probable that principal’s collection and interest on claims inaccordance 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.

Loans Past Due for 3 Months or More are loans on which payments of principal and/or interest have not been made fora 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.

- 30 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Restructured Loans represent loans whose contracts were amended in favor of obligors (e.g. reduction of, or exemption
from, stated interest, deferral of interest payments, extension of maturity dates and renunciation of claims) in order toassist 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.
Normal Claims are deemed to have no particular problem with the obligor’s financial position and business performanceand are classified as other than Claims against Bankrupt and Substantially Bankrupt Obligors, Claims with Collection
Risk, Loans Past Due for 3 Months or More and Restructured Loans.
The amounts given in the above table are gross amounts before deduction of amounts for the Reserves for Possible
Losses on Loans.
*4. In accordance with Committee Practical Guideline No. 24, bills discounted are accounted for as financing transactions.
The banking subsidiaries have rights to sell or pledge these commercial bills, foreign exchange bills purchased andothers. The face value of these bills is as follows:
Millions of yen
As of March 31,

2024¥

1,256,485

Thousands of U.S. dollars
2023¥

1,449,540

2024$

8,299,108*5. The following assets were pledged as collateral:
Millions of yen
As of March 31,

2024

Trading Assets¥

Securities

6,053,914¥

14,741,743

Loans and Bills Discounted
Total

29,164,134

3,732,150

2024$

8,502,478

8,368,476¥

Thousands of U.S. dollars
2023

97,369,504

8,375,232¥

20,609,861

39,986,221
55,273,949$

192,629,682

The following liabilities were collateralized by the above assets:
Millions of yen
As of March 31,
Deposits

2024¥

Payables under Repurchase Agreements
Guarantee Deposits Received under Securities
Lending Transactions
Borrowed Money

216,990

Thousands of U.S. dollars
2023¥

988,5512024$

1,433,223

17,553,436

10,542,199

115,940,792

644,522592,011

4,257,080

4,027,173

2,928,643

26,599,557

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 the following:
Millions of yen
As of March 31,
Cash and Due from Banks

2024¥

92,232

Trading Assets
Securities

Thousands of U.S. dollars
2023¥

82,102

2024$

609,194

427,431

261,218

2,823,190

5,188,391

6,146,181

34,269,425

65,02993,011

429,517

Loans and Bills Discounted- 31 -

In addition, the following was pledged under general collateral repurchase agreements using the subsequent collateral
allocation method:
Millions of yen
As of March 31,
Securities

2024¥

960,000

Thousands of U.S. dollars
2023¥

1,519,763

2024$

6,340,819

Other Assets includes Margins for Futures Transactions, Guarantee Deposits, and Collateral Pledged for Financial
Instruments and Others. Their amounts are as follows:
Millions of yen
As of March 31,
Margins for Futures Transactions

2024¥

Guarantee Deposits
Collateral Pledged for Financial Instruments andOthers240,463

Thousands of U.S. dollars
2023¥

170,675

2024$

1,588,262

88,907

89,103587,232

2,060,097

1,721,367

13,606,981*6. 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 in breach of contract conditions. The unutilized balance of these contracts is as follows:
Millions of yen
As of March 31,

2024

Thousands of U.S. dollars
2023

2024

Unutilized Balance¥ 119,772,942 ¥ 113,911,399$
791,102,655
Amount relating to contracts of which the originalcontractual maturity is one year or less, or which
are unconditionally cancelable at any time
80,473,318
80,776,418
531,527,859
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 estateand securities when deemed necessary at the time the contract is 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.
*7. 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 of revaluation are included in Deferred Tax Liabilities for Revaluation Reserve for Land under Liabilities, and theremainder, net of 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
book value of the land after such revaluation:
Millions of yen
As of March 31,

2024¥- 32 -

27,662Thousands of U.S. dollars
2023¥

41,555

2024$

182,708

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements*8. Accumulated Depreciation of Tangible Fixed Assets
Millions of yen
As of March 31,
Accumulated Depreciation

2024¥

808,472

Thousands of U.S. dollars
2023

¥

2024

825,181$5,339,973*9. The book value of Tangible Fixed Assets adjusted for gains on sales of replaced assets and others
Millions of yen
As of March 31,
Book Value Adjusted for Gains on Sales of Replaced
Assets and Others

2024¥

29,645

Thousands of U.S. dollars
2023¥

30,641

2024$

195,805*10. Borrowed Money includes Subordinated Borrowed Money with a covenant that performance of the obligation issubordinated to that of other obligations.
Millions of yen
As of March 31,
Subordinated Borrowed Money

2024¥

204,000

Thousands of U.S. dollars
2023¥

204,000

2024$

1,347,424*11. Bonds and Notes include subordinated bonds.
Millions of yen
As of March 31,
Subordinated Bonds

2024¥

3,258,450

Thousands of U.S. dollars
2023¥

3,218,444

2024$

21,522,126*12. The principal amounts of money trusts with contracts indemnifying the principal amounts, which are entrusted todomestic consolidated trust banking subsidiaries, are as follows:
Millions of yen
As of March 31,
Money Trusts

2024¥

801,632

Thousands of U.S. dollars
2023¥

835,6742024$

5,294,795*13. 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)
Millions of yen
As of March 31,

2024¥

1,031,181- 33 -

Thousands of U.S. dollars
2023¥

1,134,235

2024$

6,810,970

(Consolidated Statement of Income)*1. Other Ordinary Income includes the following:
Millions of yen
For the Fiscal Years ended March 31,
Gains on Sales of Stocks

2024¥

350,394

Thousands of U.S. dollars
2023

¥

2024

147,796$2,314,359*2. Other Ordinary Expenses include the following:
Millions of yen
For the Fiscal Years ended March 31,
Losses on Sales of Stocks

2024¥

289,290

Thousands of U.S. dollars
2023¥

49,7072024$

1,910,766*3. Losses on Impairment of Fixed Assets in the previous consolidated year include the following losses recorded by MHFG’ssecurities subsidiary in Japan.
With respect to the Retail & Business Banking Division belonging to the MHFG’s securities subsidiary in Japan, basedon the recognition that the business environment will continue to be uncertain, the business assets and others belonging
to this division were reduced to the recoverable amount, and Impairment losses were recorded.
The above Losses on Impairment of Fixed Assets are ¥32,046 million ( Buildings ¥79 million, Other Tangible Fixed Assets¥314 million, Software ¥21,072 million, Other Intangible Fixed Assets ¥10,550 million, and Other Assets ¥29 million ).
The Retail & Business Banking Division considers each branch as the smallest unit that can generate a cash flow
independently. Also, shared assets are grouped into larger units that include the group from which the shared assets
contribute to the generation of future cash flows.
The recoverable amount of the mentioned asset group is based on the value in use, which is calculated using a discountrate of 3.99%.

- 34 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Consolidated Statement of Comprehensive Income)*1. Reclassification adjustments and the related tax effects concerning Other Comprehensive Income
Millions of yen
For the Fiscal Years ended March 31,

2024

Thousands of U.S. dollars
2023

2024

Net Unrealized Gains (Losses) on Other Securities:
The amount arising during the period¥

Reclassification adjustments

701,506¥(417,629)$

4,633,461(177,819)

190,001(1,174,498)

Before adjustments to tax effects

523,687(227,627)

3,458,963

The amount of tax effects
Net Unrealized Gains (Losses) on Other
Securities
Deferred Gains (Losses) on Hedges:(156,313)

70,383(1,032,450)

367,374(157,244)

2,426,512

The amount arising during the period(177,263)(318,787)(1,170,825)

Reclassification adjustments

1,747,721

264,605(86,954)

Before adjustments to tax effects

87,342(405,741)

576,895

The amount of tax effects(26,744)

124,226(176,644)

Deferred Gains (Losses) on Hedges

60,598(281,515)

400,250

189,473

127,170

1,251,472

883

–

5,832

190,357

127,170

1,257,311

Foreign Currency Translation Adjustment:
The amount arising during the period
Reclassification Adjustments
Before adjustments to tax effects
The amount of tax effects
Foreign Currency Translation Adjustments

–

–

–

190,357

127,170

1,257,311

Remeasurements of Defined Benefit Plans:
The amount arising during the period

125,496

97,159828,903

Reclassification Adjustments(83,904)(78,006)(554,187)

Before adjustments to tax effects

41,592

19,153274,715

The amount of tax effects(12,739)(5,854)(84,141)

Remeasurements of Defined Benefit Plans

28,852

13,298

190,568(471)

42(3,110)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¥- 35 -

–

–

–

(471)

42

(3,110)

–

–

–

(471)

42

(3,110)15,03015,78399,273661,740¥(282,463)$

4,370,805

(Consolidated Statement of Changes in Net Assets)
For the fiscal year ended March 31, 2024
1. Types and number of issued shares and of treasury stock are as follows:
Thousands of Shares
As ofApril 1, 2023

Increase during
the fiscal year

Decrease during
the fiscal year

As of
March 31, 2024

Remarks

Issued shares
Common stock2,539,249––

2,539,249

Total

2,539,249––

2,539,249

Common stock

5,027

1,312

1,599

4,739

Total

5,027

1,312

1,599

4,739

Treasury stock** Increases are due to acquisition of treasury stock by BBT trust account (975 thousand shares) and repurchase of sharesconstituting less than one unit and other factors (336 thousand shares). Decreases are due to distribution and sale oftreasury stock through BBT trust account (1,296 thousand shares) and repurchase of shares constituting less than one
unit and other factors (303 thousand shares). The number of shares as of March 31, 2024 includes the number oftreasury stock held by BBT trust account (2,910 thousand shares).
2. Stock acquisition rights and treasury stock acquisition rights are as follows:
Class of Number of shares to be issued or transferred upon
exercise of stock acquisition rights (Shares)
shares to
be issued or
Balance astransferred
Balance as of of March 31,
upon
2024
March 31,
Increase Decrease
Breakdown exercise of2024 (Thousands
stock
As of
duringduringAs ofof stockof U.S.
(Millions ofacquisition
April 1,the fiscal
the fiscal March 31,
acquisition
dollars)yen)rights
2023
year
year
2024
Category
rights
MHFG
Stockacquisitionrights
–
–
–
–
¥
–
$
–
(Treasury
–
(–)
(–)
(–)
(–)
(–)
(–)
stock
acquisitionrights)Stockacquisitionrights as
–
5
33
stock
optionConsolidated subsidiaries––(Treasury stock acquisition
–
(–)
(–)
rights)
Total

¥

–

- 36 -

5
(–)

$

33
(–)

RemarksFinancial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
3. Cash dividends distributed by MHFG are as follows:(1) Cash dividends paid during the fiscal year ended March 31, 2024
Cash
Cash
Cash
Dividends
Cash
Dividends
Dividends (Thousands
Dividends
per Share(Millions ofof U.S.
per Share
(U.S.
yen)
dollars)(Yen)dollars) Record Date Effective Date
Resolution
Type
May 15, 2023
CommonMarch 31,
June 6,¥
107,882 $ 712,562 ¥42.50 $
0.28
(The Board of
Stock
2023
2023
Directors)
November 13,
September 30, December 6,
Common¥126,919 $ 838,302 ¥50.00 $
0.33
2023 (The Board
2023
2023
Stock
of Directors)(Notes) 1. Cash Dividends based on the resolution of the Board of Directors held on May 15, 2023 include ¥137 million($904 thousand) of cash dividends on treasury stock held by BBT trust account.
2. Cash Dividends based on the resolution of the Board of Directors held on November 13, 2023 include ¥130
million ($858 thousand) of cash dividends on treasury stock held by BBT trust account.
(2) Cash dividends with record dates falling in the fiscal year ended March 31, 2024 and effective dates coming after theend of the fiscal year
Cash
Cash
Dividends
Dividends (Thousands Resource(Millions ofof U.S.
ofyen)dollars) Dividends

Cash
Dividends
per Share
(Yen)

Cash
Dividends
per Share(U.S.
dollars)

RecordEffective
Resolution
Type
Date
Date
May 15, 2024
CommonRetained
March 31,
June 6,(The Board of¥ 139,610 $ 922,126¥55.00 $
0.36
Stock
Earnings
2024
2024
Directors)(Note) Cash Dividends based on the resolution of the Board of Directors held on May 15, 2024 include ¥160 million($1,056 thousand) of cash dividends on treasury stock held by BBT trust account.

- 37 -

For the fiscal year ended March 31, 2023
1. Types and number of issued shares and of treasury stock are as follows:
Thousands of Shares
As ofApril 1, 2022

Increase during
the fiscal year

Decrease during
the fiscal year

As of
March 31, 2023

Common stock2,539,249––

2,539,249

Total

2,539,249––

2,539,249

4,659

1,410

1,041

5,027

Remarks

Issued shares

Treasury stock
Common stock

*

Total

4,659
1,410
1,041
5,027
* Increases are due to acquisition of treasury stock by BBT trust account (787 thousand shares) and repurchase of sharesconstituting less than one unit and other factors (622 thousand shares). Decreases are due to distribution and sale oftreasury stock through BBT trust account (636 thousand shares), exercise of stock acquisition rights (stock options) (58thousand 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).
2. Stock acquisition rights and treasury stock acquisition rights are as follows:
Class of Number of shares to be issued or transferred upon
exercise of stock acquisition rights (Shares)
shares to
be issued ortransferred
Balance as of
upon
March 31,
Increase Decrease
Breakdown exercise of
2023
stock
As of
duringduringAs ofof stock(Millions ofacquisition
April 1,the fiscal
the fiscal March 31,
acquisitionyen)rights
2022
year
year
2023
Category
rights
MHFG
Stockacquisitionrights––––¥–(Treasury
–
(–)
(–)
(–)
(–)
(–)
stock
acquisitionrights)Stockacquisitionrights as–
5
stock
optionConsolidated subsidiaries–(Treasury stock acquisition–(–)
rights)
Total

¥

–

- 38 -

5(–)

RemarksFinancial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
3. Cash dividends distributed by MHFG are as follows:(1) Cash dividends paid during the fiscal year ended March 31, 2023
Cash
Cash
Dividends
Dividends(Millions ofper Share
yen)(Yen) Record Date Effective Date
Resolution
Type
May 13, 2022
March 31,
June 6,
Common¥101,542 ¥40.00(The Board of
2022
2022
Stock
Directors)
November 14,
CommonSeptember 30, December 6,2022 (The Board¥
107,889 ¥
42.50
Stock
2022
2022
of Directors)(Notes) 1. Cash dividends based on the resolution of the Board of Directors held on May 13, 2022 include ¥123 million of
cash dividends on treasury stock held by BBT trust account.
2. Cash dividends based on the resolution of the Board of Directors held on November 14, 2022 include ¥137
million of cash dividends on treasury stock held by BBT trust account.
(2) Cash dividends with record dates falling in the fiscal year ended March 31, 2023 and effective dates coming after theend of the fiscal year
Cash
Dividends(Millions of
yen)

Cash
Dividends
per Share(Yen)

Resourceof
Dividends

RecordEffective
Resolution
Type
Date
Date
May 15, 2023
March 31,
June 6,
Retained
Common¥42.50¥ 107,882(The Board of
2023
2023
Earnings
Stock
Directors)(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.
(Consolidated Statement of 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
As of March 31,
Cash and Due from Banks
Less: Due from Banks excluding due from Central
Banks
Cash and Cash Equivalents

2024¥

72,968,900

2023¥(1,803,085)¥

71,165,815- 39 -

Thousands of U.S. dollars

67,152,1002024$(1,326,418)¥

65,825,681

481,961,030(11,909,412)$

470,051,618

(Lease Transactions)Operating Leases
The future lease payments subsequent to the end of the fiscal year for non-cancelable operating lease transactions are
summarized as follows:(1) Lessees:
Millions of yen
As of March 31,2024

Due in One Year or Less¥

Due after One Year46,2082023¥

278,753
Total¥

324,962

Thousands of U.S. dollars
43,5392024$

258,089¥

301,629

305,204
1,841,169$

2,146,380(2) Lessors:
Millions of yen
As of March 31,2024

Due in One Year or Less¥

Due after One Year

1,574

¥

2,933
Total

¥

- 40 -

4,508

Thousands of U.S. dollars
2023
1,418

2024
$

3,997
¥

5,416

10,396
19,372$

29,775Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Financial Instruments)
1. Matters Relating to the Conditions of Financial Instruments(1) Policy on financial instruments
The MHFG Group, 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. Some consolidated
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 MHFG 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(“credit risk”), or due to a decline in the value of assets caused by fluctuations in interest rates, stock prices and foreignexchange 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 fromtransactions at prices that are significantly less favorable than usual (“market liquidity risk”).
Our stable retail deposit base represents the MHFG Group’s main financing source, but we also raise funds directlyfrom the 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 toraise funds at significantly higher rates than usual (“liquidity risk”).
In addition, the MHFG Group uses derivative financial products to control the interest rate risk related to the assets
and liabilities of the Group, as part of our asset and liability management (“ALM”). The Group primarily utilizes theportfolio hedge by grouping numerous financial assets and liabilities such as loans and deposits into similar interest
risk units in accordance 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 these products, treating them as deferred hedges. The
effectiveness of the hedges is assessed periodically by regression analysis and other methods to ensure whether thederivative 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 MHFG 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
maintain comprehensive 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.

- 41 -

(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 the ongoing financial health of the MHFG Group, we regularly monitor the manner in which risk capital isbeing used in order to obtain a proper grasp of the risk profile within this framework. Reports are also submitted to
the Board of Directors and other committees of each company.
(c) Credit risk management
The Board of Directors of MHFG 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 in connection
with overall credit portfolio management, and credit risk monitoring for the MHFG Group. Under the control of theGroup 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 withbasic 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 weutilize 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 one-year 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 MHFG. Their respective Business Policy Committees are responsiblefor 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 eachprincipal 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.

- 42 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(d) Market risk management
The Board of Directors of MHFG 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 in connection 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 and operations.
The Risk Management Department of MHFG is responsible for monitoring market risk, reports and analyses,
proposals, setting limits and guidelines, and formulating and implementing plans relating to market risk management.
In addition, the department assesses and manages the overall market risk of the MHFG Group as a whole andkeeps track of the market risk situation of our principal banking subsidiaries and other core group 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 MHFG 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. For trading
and banking activities, we set limits for VAR and for losses. For banking activities, we set position limits based oninterest 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 formarket risk management set forth by MHFG. Based on a common the Group’s risk capital allocation framework, theabove-mentioned companies manage market risk by setting limits according to the risk capital allocated to market
risk by MHFG. They have the same market risk management structure as MHFG, such as their Business Policy
Committees being responsible for overall discussion and coordination 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 and settlements.
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), carryout 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 year indicated:
Billions of yen
For the Fiscal Years ended March 31,
As of fiscal year end

2024
¥

319.0

Thousands of U.S. dollars
2023

¥

223.5

2024
$

2,107,001

Maximum

336.5

392.2

2,222,589

Minimum

185.9

152.1

1,227,873

Average

281.2

217.6

1,857,331[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.

- 43 -

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.
ii. Trading business
The following table shows VAR figures of our trading activities for the fiscal year indicated:
Billions of yen
For the Fiscal Years ended March 31,
As of fiscal year end

2024
¥

3.4

Thousands of U.S. dollars
2023

¥

7.0

2024
$

22,457

Maximum

9.2

8.3

60,766

Minimum

3.3

3.1

21,796

Average

5.6

5.3

36,988[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) Transactions that have both aspects of (1) and (2) above.
(4) Transactions 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 theportfolio to a 1% change in the equity index of TOPIX) is ¥25.9 billion ($171,070 thousand) and ¥20.1 billion for
the fiscal years ended March 31, 2024 and 2023, 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 for themeasurement.
• 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.

- 44 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
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 the market 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 indices monitoring, 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 the Board of
Directors, the Risk Committee, the Executive Management Committee, the President & Group CEO, and theBusiness 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, liquidity stress test surplus. 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 established classifications 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 respondsmoothly in the event 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.

- 45 -

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, 2024. 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 Exchanges (assets / liabilities), Call Money and Bills Sold, Payables under Repurchase
Agreements, Guarantee Deposits Received under Securities Lending Transactions, and Due to Trust Accounts areomitted 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.

- 46 -

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
Consolidated Balance Sheet Amount
As of March 31, 2024
Other Debt Purchased

Level 1¥

– ¥Level 278,091

Level 3¥

Total

7,638 ¥

85,729Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

1,231,186

5,334

–

1,236,521–

133,783–

133,783–

664,841

5,000

669,841

Stocks

800,806–48

800,855

Other

2,281,560

5,121,839

121,147

7,524,547–

552,8435552,849

Money Held in Trust
Securities
Other Securities
Stocks

3,092,558–

10,102

3,102,660

Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

10,562,257

412,135–

10,974,393–

583,738–

583,738–

2,652,135

156,1072,808,242

Foreign Bonds

4,214,340

7,983,161

95,914

12,293,417

Other(*1)

1,209,546

1,510,105

17,8642,737,516¥

23,392,258 ¥

19,698,009¥

413,828 ¥

43,504,096¥

3,445,024 ¥

557,815¥36 ¥

4,002,876

Total Assets
Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes–

534,787–

1,700,345

818

535,606

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–

1,700,345¥

3,445,024 ¥2,792,949

¥

855 ¥

6,238,828¥

28,586 ¥23,206¥30,375 ¥82,168–34,750(6,357)28,393(17,698)

10,412(6,373)(13,659)

7,728(8,086)

(339)

(697)

–

38,757(4,655)

34,101

Total Derivative Transactions¥
18,616 ¥99,041 ¥12,648 ¥
130,306(*1) The investment trusts accounted for under Article 24-3 and 24-9 of “Implementation Guidance on Accounting Standard
for Fair Value Measurement” (ASBJ Guidance No. 31, June 17, 2021) are regarded to have fair value equal to their
net asset value, and therefore are not included in the above table. The relevant investment trusts in Article 24-3 and24-9 are ¥13,468 million and ¥50,329 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 ¥(1,029,922) 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 hedge transactions.

- 47 -

Millions of yen
Consolidated Balance Sheet Amount
As of March 31, 2023
Other Debt Purchased

Level 1¥

– ¥Level 2
49,378

Level 3¥

Total

13,071 ¥62,450

Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

1,010,255

6,862

–

1,017,117–

137,837–

137,837–

802,4810

802,481

Stocks217,673–16

217,689

Other

1,189,560

4,218,200

27,461

5,435,223–

486,6844

486,688

Stocks2,505,760

–

9,962

2,515,722

Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

15,770,850

678,443–

16,449,293

Foreign Bonds

2,720,334

6,754,038

80,1349,554,507

717,528

1,053,012

16,404

1,786,945¥

24,131,962 ¥

17,782,575¥

341,423 ¥42,255,962¥

2,941,607 ¥

613,842¥378 ¥

3,555,828

Money Held in Trust
Securities
Other Securities

Other(*1)
Total Assets–

554,662–554,662–3,040,974

194,367

3,235,341

Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes–

221,479

1,334

222,813–2,875,517–

2,875,517¥

1,712 ¥

6,654,159(152,178) ¥106,340 ¥

34,649Other Liabilities
Short Positions In Bonds
Total Liabilities
Derivative Transactions(*2,3)Interest Rate and Bond-Related
Transactions
Currency-Related Transactions¥

2,941,607 ¥¥

80,487 ¥3,710,839–

194,459

16,041

210,500

Stocks-Related Transactions(9,873)(12,511)52,61530,230Commodity-Related Transactions

4,883

(968)

2,223

6,137

–

27,842

1,785

29,628Credit Derivative Transactions
Total Derivative Transactions¥
75,496 ¥56,643 ¥179,006 ¥311,145(*1) The investment trusts accounted for under Articles 24-3 and 24-9 of “Implementation Guidance on AccountingStandard for Fair Value Measurement” (ASBJ Guidance No. 31, June 17, 2021) are regarded to have fair value equal
to their net asset value, and therefore are not included in the above table. The relevant investment trusts in Articles243 and 24-9 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 hedge transactions.

- 48 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Thousands of U.S. dollars
Consolidated Balance Sheet Amount
As of March 31, 2024
Other Debt Purchased

Level 1$

– $Level 2515,792

Level 3$

Total

50,449 $566,241–

8,167,245

Trading Assets
Trading Securities
Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

8,132,007

35,231–

883,639–

883,639–4,391,287

33,025

4,424,313

Stocks5,289,339–

317

5,289,663

Other

15,069,749

33,829,848

800,178

49,699,782–

3,651,538

33

3,651,578

Stocks

20,426,406–

66,723

20,493,130

Japanese Government Bonds
Japanese Local Government
Bonds
Japanese Corporate Bonds

69,763,916

2,722,159–

72,486,083

Foreign Bonds

Money Held in Trust
Securities
Other Securities

Other(*1)
Total Assets–

3,855,601–

3,855,601–

17,517,404

1,031,089

18,548,494

27,835,799

52,728,936

633,513

81,198,262

7,989,075

9,974,273

117,992

18,081,347$

154,506,327 $

130,105,739$

2,733,342 $

287,345,416$

22,754,451 $3,684,379

$

237 $

26,439,075

Trading Liabilities
Securities Sold, Not yet Purchased
Bonds and Notes–

3,532,278

5,402

3,537,688–

11,230,812–

11,230,812

Other Liabilities
Short Positions In Bonds
Total Liabilities
Derivative Transactions(*2,3)Interest Rate and Bond-Related
Transactions
Currency-Related Transactions$

22,754,451 $

18,447,483$

5,647 $

41,207,582$

188,811 $

153,276$

200,627 $542,721229,524(41,988)

187,536–

Stocks-Related Transactions(116,895)

68,771(42,093)(90,217)

Commodity-Related Transactions

51,043(53,408)(2,239)(4,603)–

255,990(30,746)

225,237

Credit Derivative Transactions
Total Derivative Transactions$
122,959 $
654,167 $
83,540 $860,673(*1) The investment trusts accounted for under Articles 24-3 and 24-9 of “Implementation Guidance on AccountingStandard for Fair Value Measurement” (ASBJ Guidance No. 31, June 17, 2021) are regarded to have fair value equal
to their net asset value, and therefore are not included in the above table. The relevant investment trusts in Articles243 and 24-9 are $88,956 thousand and $332,424 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 $(6,802,655) 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 hedge transactions.

- 49 -

(2) Financial instruments other than financial instruments recorded at fair value in the consolidated balance sheet
Fair Value
As of March 31, 2024
Other Debt Purchased

Level 1¥

Money Held in Trust

Level 2

Level 3

Millions of yen
Consolidated
Balance Sheet
Difference
Total
Amount– ¥– ¥4,089,162 ¥4,089,162 ¥4,089,162 ¥

–

–

–

25,96025,96025,960–512,020––

512,020

519,397(7,377)–3,350,903–

3,350,903

3,525,737(174,833)

Securities
Bonds Held to Maturity
Japanese
Government Bonds
Foreign Bonds
Loans and Bills Discounted
Reserves for Possible
Losses on Loans(*)

92,778,781(708,720)–

Total Assets¥

Deposits
Negotiable Certificates of
DepositBorrowed Money¥

Bonds and Notes

512,020 ¥5,088

93,437,406

93,442,494

92,070,060

1,372,433

3,355,991 ¥ 97,552,528 ¥ 101,420,540 ¥ 100,230,317 ¥ 1,190,223– ¥ 159,805,074 ¥– ¥ 159,805,074 ¥ 159,854,668 ¥(49,594)–

11,589,336–

11,589,336

11,590,532(1,196)–

5,326,076

110,572

5,436,648

5,449,852(13,203)–

10,280,735

812,202

11,092,937

11,464,105(371,167)

Total Liabilities¥– ¥ 187,001,221 ¥
922,775 ¥ 187,923,996 ¥ 188,359,159 ¥ (435,162)(*) 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 toimmateriality of their reserves.

Fair Value
As of March 31, 2023
Other Debt Purchased

Level 1¥

Money Held in Trust

Level 2

Level 3

Millions of yen
Consolidated
Balance Sheet
Difference
Total
Amount– ¥– ¥3,774,246 ¥3,774,246 ¥3,774,285 ¥

(38)

–

–

22,76922,76922,769–800,448––

800,448

799,305

1,142–

1,114,660–

1,114,660

1,248,883(134,222)

Securities
Bonds Held to Maturity
Japanese Government
Bonds
Foreign Bonds
Loans and Bills Discounted
Reserves for Possible
Losses on Loans (*)

88,687,155(626,889)–

Total Assets¥

Deposits
Negotiable Certificates of
DepositBorrowed Money¥

Bonds and Notes

800,448 ¥20,97089,348,456

1,135,630 ¥ 93,145,471 ¥– ¥ 150,461,962 ¥

89,369,426

88,060,266

95,081,550 ¥

93,905,509 ¥ 1,176,041– ¥ 150,461,962 ¥ 150,498,976 ¥

1,309,160(37,013)–

13,787,052–

13,787,052

13,788,347(1,295)–

4,028,301

100,302

4,128,604

4,155,480(26,876)–

9,635,498

956,983

10,592,482

11,148,376(555,894)

Total Liabilities¥– ¥ 177,912,814 ¥ 1,057,286 ¥ 178,970,100 ¥ 179,591,181 ¥ (621,080)(*) 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 toimmateriality of their reserves.

- 50 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

Fair Value
As of March 31, 2024
Other Debt Purchased

Level 1$

Money Held in Trust

Level 2

Level 3

Total

Thousands of U.S. dollars
Consolidated
Balance Sheet
Difference
Amount– $– $ 27,008,996 $

27,008,996 $

27,008,996 $

–

–

–

171,466

171,466

171,466–

3,381,902––

3,381,902

3,430,627(48,725)–

22,132,780–

22,132,780

23,287,562(1,154,775)

Securities
Bonds Held to Maturity
Japanese
Government Bonds
Foreign Bonds
Loans and Bills
Discounted
Reserves for Possible
Losses on Loans (*)

612,805,686(4,681,109)–

Total Assets$ 3,381,902 $Deposits
Negotiable Certificates of
DepositBorrowed Money$

Bonds and Notes

33,606617,155,918

617,189,524

608,124,570

9,064,947

22,166,387 $ 644,336,380 $ 669,884,676 $ 662,023,229 $ 7,861,446– $1,055,515,680 $– $ 1,055,515,680 $ 1,055,843,249 $(327,569)–

76,547,793–

76,547,793

76,555,693–

35,178,837

730,330

35,909,167

35,996,380(87,206)–

67,904,458

5,364,610

73,269,068

75,720,640(2,451,565)(7,899)Total Liabilities$– $1,235,146,770 $ 6,094,947 $ 1,241,241,717 $ 1,244,115,977 $ (2,874,253)(*) 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 toimmateriality of their reserves.

- 51 -

(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 whenother 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.
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
and are 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 (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 thequoted 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.
Those for which unadjusted quoted market prices in active markets are available are categorized as Level 1 andthat are not available as Level 2. Additionally the investment trusts for which there are no transaction prices inmarkets with no significant 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 yieldby 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 (Securities).
Loans and Bills Discounted
Fair values of Loans and Bills Discounted are mainly measured by discounting the total amount of principal andinterest 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 theestimated amounts calculated based on the recoverability from collateral and guarantees approximate the amountof claims and others minus the amount of Reserves for Possible Losses on Loans in the consolidated balance
sheet as of the consolidated balance sheet date and those amount are considered to be fair values which are
categorized as Level 3.

- 52 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
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)
are considered to be fair values. In addition, fair values of time deposits and Negotiable Certificates of Deposit arecalculated by classifying them based on their terms and by discounting the future cash flows. The discount rates
used in such calculations are the market interest rates. Since fair values of those whose deposit terms are short(i.e., within six months) approximate book values, the book values are considered to be fair values and those fairvalues 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
and government 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 interestof such Borrowed Money classified by period lengths at the interest rates considered to be applicable to similarloans 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 consolidated subsidiaries, fair values of Bonds andNotes with market prices are measured at the market prices and fair values of those without market prices arecalculated 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 unobservable valuation 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 thefair value 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
Level 1, 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 theBlack-Scholes model, depending on the type of transaction and the maturity period. The main inputs which areused in those valuation techniques are interest rate, currency rate, volatility and others. In addition, priceadjustments based on credit risk of counterparty and credit risk of consolidated subsidiaries themselves and priceadjustments for unsecured funding are made. When unobservable inputs are not used 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 relatedtransactions.

- 53 -

(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
Significant
Principal valuation
unobservable
techniquevaluation input
As of March 31, 2024

Range of valuation
Weighted average
input

Other Debt Purchased
Securitized products

Prepayment rate

0.3%–6.1%

3.8%

Default rate

0.0%

0.0%

Discount rate

0.3%–0.6%

0.4%

Discounted cash
flow method

Discount rate

0.3%–1.8%

0.6%

Discounted cash
flow method

Discount rate

0.4%–5.7%

2.0%

Prepayment rate

3.1%

3.1%

Default rate

0.4%

0.4%

Recovery rate

36.9%

36.9%

Discount rate

0.5%

0.5%

IR – IR correlation

23.1%–100.0%–

FX – IR correlation

5.4%–72.5%–

FX – FX correlation

39.0%–64.7%–

Discounted cash
flow method
Trading Assets
Trading Securities
Securities
Japanese Corporate Bonds
Private placement bonds
Foreign Bonds
Securitized products
Discounted cash
flow method

Derivative Transactions
Interest Rate and Bond-Related
Transactions

Option valuation
model

Currency-Related Transactions

Option valuation
model

Equity – IR
correlation
Equity – FX
correlation

25.0%

–

(17.8)%–93.2%–

Equity correlation

32.2%–100.0%–

Equity volatility

9.7%–121.7%–

Commodity volatility

0.0%–27.6%–

Default rate

0.0%–9.4%–

Stocks-Related Transactions
Option valuation
model

Commodity-Related Transactions
Credit Derivative Transactions

Option valuation
model
Discounted cash
flow method- 54 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements

As of March 31, 2023

Principal valuation
techniqueSignificant
unobservablevaluation input

Range of valuation
Weighted average
input

Other Debt Purchased
Securitized products

Prepayment rate

0.1%–17.5%

4.3%

Default rate

0.0%–2.2%

0.1%

Discount rate

0.3%–1.6%

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%

Prepayment rate

21.7%

21.7%

Default rate

0.1%

0.1%

Recovery rate

40.5%

40.5%

Discounted cash
flow method
Trading Assets
Trading Securities
Securities
Japanese Corporate Bonds
Private placement bonds
Foreign Bonds
Securitized products
Discounted cash
flow method

Discount rate

0.9%–2.0%

1.1%

Discounted cash
flow method

Discount rate

0.0%–1.4%

0.1%

Interest Rate and Bond-Related
Transactions

Option valuationmodel

IR – IR correlation

23.1%–100.0%–

Currency-Related Transactions

Option valuation
model

FX – IR correlation

5.4%–58.1%–

FX – FX correlation

39.0%–64.7%

–

Other
Derivative Transactions

Equity – IR
correlation
Equity – FX
correlation

25.0%

–

(16.3)%–93.2%–

Equity correlation

3.2%–100.0%–

Equity volatility

5.9%–180.7%–

Commodity volatility

19.9%–54.4%–

Default rate

0.0%–13.0%–

Credit correlation

47.5%–100.0%–

Stocks-Related Transactions
Option valuation
model

Commodity-Related Transactions
Credit Derivative Transactions

Option valuation
model
Discounted cash
flow method- 55 -

(2) Adjustment sheet from beginning balance to ending balance as of period and unrealized gains (losses) recognized
as gains (losses) for the period
Millions of yen
Gains (losses) for the period/
Other Comprehensive Income

Beginningbalance

Unrealized
gains (losses)
on financial
assets andliabilities held
Net amount ofTransfer fromas of thepurchase, Transfer to fairEndingfair values of
consolidated
Recorded to
Recorded tosale, issue,
values ofbalance as ofLevel 3balance sheet
gains (losses)
Other
and
Level 3 (*3)
period(*4)
date among
for the period Comprehensive
settlement
the amount(*1)
Income (*2)
recorded togains (losses)
for the period
(*1)

¥

¥

As of March 31, 2024
Other Debt Purchased

13,071

(111)

¥

6

¥

(5,328)

¥

–

¥

–

¥

7,638 ¥–

Trading Assets
Trading Securities
Japanese
Corporate Bonds

0

–

–

5,000

–

–

5,000

–

Stocks

16

44

–

(12)

–

–

48

44

Other

27,461

7,689–

84,775

4,018(2,797)

121,147

4,535

4

0

–

0

–

–

5

–

Money Held in Trust
Securities
Other Securities
Stocks

9,962

–

90

49

–

–

10,102–

Japanese
Corporate Bonds

194,367(3,996)

6,466(13,520)

36,036(63,246)

156,107–

Foreign Bonds

80,134

12,144541(7,244)

12,578(2,239)95,914–Other

16,404

86

1,165

218

–

(10)

17,864

12

378

(12)

–

(329)

–

–

36

(17)

1,334

(515)

–

–

–

–

818

(139)

106,340(77,905)–

73,003–(71,062)

30,375(4,089)16,041(7,425)–(15,164)

73

117(6,357)(9,954)

52,615(80,547)–

22,551–(993)(6,373)112,2212,223(1,722)

–

(841)

–

–

(339)

(1,520)

1,785(9,404)

–

3,233

(190)

(79)

(4,655)(6,095)

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(*1)Those amounts are mainly included in Trading Income, Trading Expenses, Other Operating Income and Other
Operating Expenses in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income inthe consolidated statement of comprehensive income.
(*3)Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs which are used infair value measurements based on market 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 andthe fact that the inputs which are used in fair value measurement of derivatives were determined to be immaterial byquantitative sensitivity analysis. The transfer was made on the beginning of the accounting period.

- 56 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Millions of yen
Gains (losses) for the period/
Other Comprehensive Income

Beginningbalance

As of March 31, 2023
Other Debt Purchased¥

17,908

Unrealized
gains (losses)
on financial
assets andliabilities held
Net amount ofTransfer from
Recorded to
Recorded toas of thepurchase, Transfer to fair fair values ofEndinggains (losses)
Other
consolidated
sale, issue,
values ofbalanceasofLevel 3for the period Comprehensivebalance sheet
andLevel 3 (*3)
period(*4)(*1)
Income (*2)
date among
settlement
the amountrecorded togains (losses)
for the period
(*1)
¥

(2)

¥

(89)

¥

(4,744)

¥

–

¥

–

¥

13,071¥–

Trading Assets
Trading Securities
Japanese
Corporate Bonds

0

0

–

–

–

–

0

45

Stocks

190

350

–

(524)

–

–

16

(328)

Other

19,245

527

–

6,725

1,956

(993)

27,461

(576)

4

0

–

0

–

–

4

–

Money Held in Trust
Securities
Other Securities
Stocks

10,161

–

54

(254)

–

–

9,962

–

Japanese
Corporate Bonds

236,037(1,080)

4,397(24,889)

44,367(64,465)

194,367–

Foreign Bonds

145,936

8,222

(972)

(7,566)–(65,484)

80,134–Other

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)

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(*1)Those amounts are mainly included in Trading Income, Trading Expenses, Other Operating Income and Other
Operating Expenses in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income inthe consolidated statement of comprehensive income.
(*3)Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs which are used infair value measurements based on market 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.

- 57 -

Thousands of U.S. dollars
Gains (losses) for the period/
Other Comprehensive Income

Beginningbalance

Unrealized
gains (losses)
on financial
assets andliabilities held
Net amount ofTransfer fromas of thepurchase, Transfer to fairEndingfair values of
consolidated
Recorded to
Recorded tosale, issue,
values ofbalance as ofLevel 3balance sheet
gains (losses)
Other
and
Level 3 (*3)
period(*4)
date among
for the period Comprehensive
settlement
the amount(*1)
Income (*2)
recorded togains (losses)
for the period
(*1)

$

$

As of March 31, 2024
Other Debt Purchased

86,334

(733)

$

39

$

(35,191)

$

–

$

–

$

50,449 $–33,025–

Trading Assets
Trading Securities
Japanese
Corporate Bonds

0

–

–

33,025––

Stocks

105

290

–

(79)

–

–

317

290

Other

181,380

50,785–559,940

26,538(18,474)

800,178

29,953

26

0

–

0

–

–

33

–

Money Held in Trust
Securities
Other Securities
Stocks

65,799

–

594

323

–

–

66,723–

Japanese
Corporate Bonds

1,283,797(26,393)

42,708(89,299)

238,018(417,741)

1,031,089–

Foreign Bonds

529,286

80,211

3,573(47,846)

83,077(14,788)633,513–

Other

108,348

568

7,694

1,439

–

(66)

117,992

79

2,496

(79)

–

(2,173)

–

–

237

(112)

8,811

(3,401)

–

–

–

–

5,402

(918)

702,377(514,564)–

482,186–(469,365)

200,627(27,007)

105,951(49,042)–(100,158)

482

772

(41,988)(65,746)

347,523(532,014)–

148,949–(6,558)(42,093)741,221

14,682(11,373)–(5,554)––(2,239)(10,039)

11,789(62,113)–

21,354(1,254)(521)(30,746)(40,257)

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(*1)Those amounts are mainly included in Trading Income, Trading Expenses, Other Operating Income and Other
Operating Expenses in the consolidated statement of income.
(*2)Those amounts are included in Net Unrealized Gains (Losses) on Other Securities of Other Comprehensive Income inthe consolidated statement of comprehensive income.
(*3)Those are the transfers from Level 2 to Level 3, due to changes in observability of valuation inputs which are used infair value measurements based on market 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 andthe fact that the inputs which are used in fair value measurement of derivatives were determined to be immaterial byquantitative sensitivity analysis. The transfer was made on the beginning of the accounting period.

- 58 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(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 offair values and procedures related to usage of the valuation model. For the fair values and the level categories, thevalidity of the 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 aremost appropriately reflected are used. In addition, when quoted prices obtained from third parties are used, thevalidity of the prices is verified by appropriate methods such as confirmation of valuation techniques and usedvaluation inputs and comparison 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 correlatedwith borrower delinquency. A significant change in the prepayment rate would generally significantly impact thevaluation of the fair values of financial instruments either positively or negatively, depending on the structure offinancial 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.

- 59 -

(Note 3) The following are the consolidated balance sheet amounts of Stocks and others without a quoted market
price, and Investments in Partnerships and others. These amounts are not included in Money Held in Trustand Other Securities in the tables disclosed in the Matters relating to fair value of financial instruments andbreakdown of fair value by level.
Millions of yen
Thousands of U.S. dollars
2024
Consolidated
Balance Sheet
AmountAs of March 31,
Category
Stocks and others without a quoted market price*1¥

2023
Consolidated
Balance Sheet
Amount525,813 ¥303,3762024
Consolidated Balance
Sheet Amount$

3,473,005

Investments in Partnerships and others*2

533,303448,196
3,522,476*1 Stocks and others without a quoted market price include unlisted stocks and others and in accordance with Paragraph 5of “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 fair value.
*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, 2024 and 2023, the amounts of impairment (devaluation) were ¥2,522 million($16,657 thousand) and ¥1,287 million, respectively, on a consolidated basis.
(Note 4) Projected redemption amounts after the consolidated balance sheet date for financial assets and securities
with maturities
Millions of yen
As of March 31, 2024
Within 1 year
1-3 years
3-5 years
5-7 years
7-10 years Over 10 years
Types of Financial Instruments
Due from Banks¥

72,393,837 ¥

2,535 ¥

– ¥

– ¥

– ¥

–

Other Debt Purchased

3,853,289

195,327

74,285

17,886

4,258

30,573

Securities

14,219,382

2,273,872

2,285,686

1,492,066

1,956,600

9,826,428

100,000

90,00090,00030,000210,000

3,472,645

100,000

90,00090,00030,000210,000

–

–

–

–

–

–

3,472,645

14,119,382

2,183,872

2,195,686

1,462,066

1,746,600

6,353,782

10,562,579

3,000

7,500

51,000304,700–

72,545

102,634

117,859

136,066

153,4949,300

570,123

922,119562,634

134,412

89,235556,4422,884,020

989,176

1,234,129

980,443

1,159,472

5,659,845

Bonds Held to Maturity
Japanese Government
Bonds
Foreign Bonds
Other Securities withMaturities
Japanese Government
Bonds
Japanese Local
Government Bonds
Japanese Corporate
Bonds
Foreign Bonds
Other
Loans and Bills Discounted *1
Total

30,112

166,942

273,563

160,143

39,698128,194

34,143,291

23,865,946

14,515,227

7,609,961

4,477,924

6,846,204¥ 124,609,800 ¥

26,337,682 ¥

16,875,200 ¥9,119,913 ¥

6,438,784 ¥

16,703,206- 60 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Millions of yen
As of March 31, 2023
Within 1 year
Types of Financial Instruments
Due from Banks¥

66,315,278 ¥1-3 years

3-5 years

4,177 ¥

5-7 years– ¥7-10 years– ¥Over 10 years– ¥–Other Debt Purchased

3,586,639

135,135

53,764

12,162

3,617

46,197

Securities

17,880,738

2,933,185

1,774,986

1,419,910

2,368,698

6,522,863

280,000

100,000

90,000120,000

210,000

1,199,075

280,000

100,000

90,000120,000

210,000

–

–

–

–

–

–

1,199,075

17,600,738

2,833,185

1,684,986

1,299,910

2,158,698

5,323,788

14,272,729

725,300

50,400673,200

576,600

100,000

35,529134,414141,308

56,875

184,633

7,400

653,800

1,121,071

587,318

204,861

82,283604,369

2,630,445

816,044477,751

313,914

1,274,298

4,498,075

Bonds Held to Maturity
Japanese Government
Bonds
Foreign Bonds
Other Securities withMaturities
Japanese Government
Bonds
Japanese Local
Government Bonds
Japanese Corporate
Bonds
Foreign Bonds
Other
Loans and Bills Discounted *1
Total

8,234

36,355428,208

51,05940,882

113,943

32,753,371

21,711,103

14,414,415

7,152,739

4,644,511

6,715,736¥ 120,536,028 ¥

24,783,602 ¥

16,243,167 ¥8,584,811 ¥

7,016,827 ¥

13,284,797

Thousands of U.S. dollars
As of March 31, 2024
Within 1 year
Types of Financial Instruments
Due from Banks$ 478,162,727 $1-3 years

3-5 years

16,743 $5-7 years– $7-10 years– $Over 10 years– $–Other Debt Purchased

25,451,050

1,290,138

490,653

118,137

28,124201,935

Securities

93,919,299

15,018,969

15,097,001

9,855,125

12,923,381

64,903,751

660,501

594,451594,451

198,150

1,387,054

22,936,889

660,501

594,451594,451

198,150

1,387,054

–

–

–

–

–

–

22,936,889

93,258,797

14,424,517

14,502,549

9,656,974

11,536,327

41,966,856

69,766,043

19,81549,537

336,856

2,012,549–

479,161

677,899

778,461

898,718

1,013,830

61,426

3,765,673

6,090,614

3,716,208

887,793589,398

3,675,310

19,049,009

6,533,527

8,151,446

6,475,845

7,658,335

37,383,388

198,890

1,102,655

1,806,889

1,057,747

262,206

846,723

225,517,113

157,635,046

95,873,361

50,263,943

29,576,776

45,219,313

60,237,206 $

42,528,295 $ 110,325,006

Bonds Held to Maturity
Japanese Government
Bonds
Foreign Bonds
Other Securities withMaturities
Japanese Government
Bonds
Japanese Local
Government Bonds
Japanese Corporate
Bonds
Foreign Bonds
Other
Loans and Bills Discounted *1
Total$ 823,050,198 $ 173,960,911 $ 111,461,030 $*1 Amounts do not include loans to bankrupt, substantially bankrupt, and intensive control obligors and other loans, of whichredemption amounts cannot be projected, of ¥716,155 million ($4,730,217 thousand) and ¥662,585 million, and loans
with no maturities of ¥604,067 million ($3,989,874 thousand) and ¥632,691 million as of March 31, 2024 and 2023,
respectively.
2
Financial assets, which all of the balance are constantly redeemed within one year, is omitted.

- 61 -

(Note 5) Projected repayment amounts after the consolidated balance sheet date for Bonds and Notes, Borrowed
Money, and other interest-bearing liabilities
Millions of yen
As of March 31, 2024
Within 1 year
1-3 years
3-5 years
5-7 years
7-10 years Over 10 years
Types of Financial Instruments
Deposits*1
Negotiable Certificates of
DepositBorrowed Money*2¥

Bonds and Notes*2
Total

¥

156,875,640 ¥2,088,526 ¥

590,309 ¥51,155 ¥101,096 ¥147,941

11,129,999

392,842

74,002–––

4,031,714

339,097458,301

190,712215,683

184,343

1,243,804

2,052,928

1,746,260

2,171,853

1,853,650

1,395,216

173,281,158 ¥4,873,395 ¥

2,868,873 ¥

2,413,720 ¥

2,170,429 ¥

1,727,501

Millions of yen
As of March 31, 2023
Types of Financial Instruments
Deposits*1
Negotiable Certificates of
DepositBorrowed Money*2¥

Bonds and Notes*2
Total

¥

Within 1 year

1-3 years

3-5 years

147,305,953 ¥

2,393,806 ¥

578,303 ¥5-7 years

7-10 years Over 10 years

24,321 ¥59,848 ¥

136,742

13,247,654

546,314

–

–

–

–

1,118,801

2,267,136

249,996

106,531

193,151

189,863

968,328

2,215,146

2,308,109

1,309,057

1,863,867

1,236,675

162,640,738 ¥

7,422,403 ¥

3,136,409 ¥1,439,910 ¥

2,116,867 ¥

1,563,281

Thousands of U.S. dollars
As of March 31, 2024
Types of Financial Instruments
Deposits*1
Negotiable Certificates of
DepositBorrowed Money*2

Within 1 year

1-3 years

3-5 years

5-7 years$ 1,036,166,710 $

13,794,755 $

3,899,002 $

337,879 $

73,513,863

2,594,729

488,784

Bonds and Notes*2
Total

7-10 years

Over 10 years

667,741 $––

977,153–

26,629,550

2,239,742

3,027,087

1,259,656

1,424,590

1,217,589

8,215,350

13,559,630

11,534,081

14,345,132

12,243,394

9,215,429

32,188,870 $

18,948,963 $

15,942,668 $

14,335,726 $

11,410,178$ 1,144,525,482 $1* Demand deposits are included in “Within 1 year.”*2 Amounts do not include Borrowed Money with no maturities of ¥30,000 million ($198,150 thousand) and ¥30,000 million,
and Bonds and Notes with no maturities of ¥1,536,000 million ($10,145,310 thousand) and ¥1,470,004 million as of March
31, 2024 and 2023, respectively.
3 Interest-bearing liabilities, which all of the balance are constantly paid within one year, is omitted.

- 62 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Securities)
In addition to “Securities” on the consolidated balance sheet, Trading Securities, Short-term Bonds and Others in “Trading
Assets,” Negotiable Certificates of Deposit in “Cash and Due from Banks,” certain items in “Other Debt Purchased” andcertain items in “Other Assets” are also included.
1. Trading Securities
Millions of yen
As of March 31,
Unrealized gains (losses)

2024¥(134,857)

Thousands of U.S. dollars
2023

¥

2024

5,700

$

(890,733)

2. Bonds Held to Maturity
Millions of yen
Consolidated
Balance Sheet
AmountAs of March 31, 2024
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

Fair value

Difference¥

4,045,134¥

3,862,923¥(182,210)¥

1,349,998¥

1,358,787

¥

8,789

¥

Foreign Bonds

100,005

100,213207

1,249,993

1,258,574

8,581

2,695,135¥

2,504,136¥(190,999)

419,391

411,807(7,584)2,275,744

2,092,329(183,414)
Millions of yen

Consolidated
Balance Sheet
AmountAs 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

Fair value

2,048,188¥

613,992¥

Difference

1,915,108¥

616,531¥(133,080)
2,538

499,834

502,005

2,170

114,157

114,526368

1,434,196¥

1,298,577¥(135,618)

299,470

298,443(1,027)

1,134,725

1,000,134(134,591)

Thousands of U.S. dollars
Consolidated
Balance Sheet
AmountAs of March 31, 2024
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- 63 -

Fair value

Difference$

26,718,190$

25,514,682$(1,203,500)$

8,916,763$

8,974,815$

58,051$

660,535

661,908

1,367

8,256,228

8,312,906

56,677

17,801,420$

16,539,867$(1,261,552)

2,770,085

2,719,993(50,092)

15,031,334

13,819,874(1,211,453)

3. Other Securities
Millions of yen

As of March 31, 2024
Other Securities (Total)
Other Securities Whose Consolidated Balance Sheet
Amount Exceeds Acquisition Cost
Other Securities:

Consolidated
Balance Sheet
AmountAcquisition Cost

Difference¥

32,731,510¥

31,404,636¥

1,326,873*¥

10,357,172¥

8,017,786¥

2,339,385

Japanese Stocks

3,066,155875,694

2,190,460

Japanese Bonds:

2,572,092

2,553,976

18,115

1,602,553

1,593,227

9,326Japanese Government Bonds
Japanese Local Government Bonds

19,197

19,102

94

Japanese Corporate Bonds

950,341

941,647

8,694

4,718,924

4,588,115

130,8093,077,106

3,056,773

20,332Other:
Foreign Bonds
Other Debt Purchased
Other
Other Securities Whose Consolidated Balance Sheet
Amount Does Not Exceed Acquisition Cost
Other Securities:

¥

3,555

3,526

29

1,638,262

1,527,815

110,446

22,374,338¥

23,386,850¥(1,012,512)

Japanese Stocks

36,50541,250(4,744)

Japanese Bonds:

11,794,282

11,840,911(46,629)

9,371,839

9,374,918(3,078)564,541

572,115(7,573)

Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other- 64 -

1,857,901

1,893,878(35,977)

10,543,550

11,504,687(961,137)

9,216,310

9,948,275(731,964)

27,82728,594(766)

1,299,411

1,527,818(228,406)

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:

Consolidated
Balance Sheet
AmountAcquisition Cost

Difference¥

34,403,458¥

33,613,602¥¥

17,979,832¥

16,383,529¥

789,855*

1,596,302

Japanese Stocks

2,366,271

817,808

1,548,463

Japanese Bonds:

13,082,946

13,068,506

14,44011,884,984

11,881,113

3,871

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:¥

61,95461,757197

1,136,007

1,125,635

10,3712,530,613

2,497,215

33,3982,197,042

2,182,254

14,788

6,698

6,627

70

326,872

308,332

18,53916,423,626¥

17,230,072¥(806,446)

Japanese Stocks

149,451

179,532(30,081)

Japanese Bonds:

7,156,350

7,232,283(75,933)

4,564,308

4,600,151(35,842)

492,707498,335(5,627)

Japanese Government Bonds
Japanese Local Government Bonds
Japanese Corporate Bonds
Other:
Foreign Bonds
Other Debt Purchased
Other- 65 -

2,099,334

2,133,797(34,463)

9,117,824

9,818,256(700,432)

7,357,464

7,952,943(595,479)

40,763

41,628(865)

1,719,596

1,823,684(104,087)

Thousands of U.S. dollars

As of March 31, 2024
Other Securities (Total)
Other Securities Whose Consolidated Balance Sheet
Amount Exceeds Acquisition Cost
Other Securities:

Consolidated
Balance Sheet
Amount$$Acquisition Cost

Difference

216,192,272$

207,428,243$

8,764,022*

68,409,326$

52,957,635$

15,451,684

Japanese Stocks

20,252,014

5,783,976

14,468,031

Japanese Bonds:

16,988,718

16,869,062

119,649

10,584,894

10,523,295

61,598Japanese 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:$

126,796

126,169620

6,277,021

6,219,597

57,424

31,168,586

30,304,590

863,996

20,324,346

20,190,046

134,293

23,48023,289191

10,820,752

10,091,248

729,498

147,782,945$

154,470,607$(6,687,661)

Japanese Stocks

241,116

272,457(31,334)

Japanese Bonds:

77,901,466

78,209,451(307,985)

Japanese Government Bonds

61,901,182

61,921,519(20,330)

Japanese Local Government Bonds

3,728,804

3,778,830(50,019)

Japanese Corporate Bonds

12,271,472

12,509,101(237,628)

69,640,356

75,988,685(6,348,328)

60,873,910

65,708,553(4,834,636)

183,797

188,863(5,059)Other:
Foreign Bonds
Other Debt Purchased
Other

8,582,635
10,091,268(1,508,626)* Unrealized Gains (Losses) include ¥53,159 million ($351,116 thousand) and ¥36,513 million which were recognized in
the statements of income for the fiscal years ended March 31, 2024 and 2023, respectively, by applying the fair-value
hedge method and others.
4. Bonds Held to Maturity Sold during the Fiscal Year
There is no applicable information.

- 66 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
5. Other Securities Sold during the Fiscal YearFor the Fiscal Year ended
March 31, 2024
StocksMillions of yen
Total amount Total amount
Proceeds fromof gains on of losses on
sales
sales
sales
¥

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

¥

For the Fiscal Year ended
March 31, 2023
Stocks331,998 ¥76,296$2,599,914 $ 2,192,853 $

503,936

24,993,217

30,18545,275

165,080,693

199,372

299,042

24,769,404

28,63041,708

163,602,404

189,101

275,482

90,394307

384

597,054

2,027

2,536

133,417

1,246

3,182

881,2218,229

21,0179,519,219

53,347

114,242

62,874,630

352,357

754,570

34,906,064 ¥

415,531 ¥

235,814$ 230,555,244 $ 2,744,590 $ 1,557,556

Millions of yen
Total amount Total amount
Proceeds fromof gains on of losses on
sales
sales
sales
¥

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

393,627 ¥Thousands of U.S. dollars
Total amount Total amount
Proceeds fromof gains on of losses on
sales
sales
sales

¥

435,298 ¥

140,858 ¥

43,24736,761,592

23,14820,25836,676,081

21,08820,205

154－－

85,3552,060

53

9,044,465

52,338341,584

46,241,356 ¥

216,345 ¥405,090

6. Securities whose Holding Purpose Changed
There are no material securities to disclose.
7. Impairment (“Devaluation”) of Securities
Certain Securities other than Trading Securities (excluding Stocks and others without a quoted market price andInvestments in Partnerships and others) are devalued to the fair value, and the difference between the acquisition cost
and the fair value is treated as a loss for the fiscal year ended March 31, 2024 and 2023.

If the fair value hassignificantly deteriorated compared with the acquisition cost (including amortized cost), the difference is treated as
impairment (devaluation) unless it is deemed that there is a possibility of a recovery in the fair value.
The amounts of impairment (devaluation) were ¥1,897 million ($12,529 thousand) and ¥1,256 million for the fiscal years
ended March 31, 2024 and 2023, respectively.
The criteria for determining whether a security’s fair value has “significantly deteriorated” are outlined as follows:• Securities whose fair value is 50% or less of the acquisition cost
• Securities whose fair value exceeds 50% but is 70% or less of the acquisition cost and the quoted market pricemaintains a certain level or lower- 67 -

(Money Held in Trust)
1. Money Held in Trust for Investment
Millions of yen

Thousands of U.S. dollars

2024

As of March 31,
Money Held in Trust for
Investment

Consolidated
BalanceSheet
Amount¥Unrealized
gains(losses)553,349 ¥

3,894

2023
Consolidated
BalanceSheet
Amount¥487,188 ¥Unrealized
gains(losses)
1,911

2024
Consolidated
BalanceSheet
Amount$ 3,654,881 $Unrealized
gains(losses)
25,7192. Money Held in Trust Held to Maturity
There is no Money Held in Trust held to maturity.
3. Other in Money Held in Trust (other than for Investment Purposes and Held to Maturity Purposes)

As of March 31, 2024
Other in Money Held in Trust

As of March 31, 2023
Other in Money Held in Trust

As of March 31, 2024
Other in Money Held in Trust

Consolidated
Balance Sheet
Amount¥30,298 ¥Consolidated
Balance Sheet
Amount¥27,418 ¥Consolidated
Balance Sheet
AmountAcquisition
Cost
30,298 ¥Acquisition
Cost
27,418 ¥Acquisition
Cost

Millions of yen
Other in Money
Held in Trust
Other in Money
Whose
Held in Trust
Consolidated
Whose
Balance Sheet
Consolidated
Balance Sheet Amount Does Not
Amount Exceeds Exceed Acquisition
Cost
Difference Acquisition Cost
– ¥

–

¥

–

Millions of yen
Other in Money
Held in Trust
Other in Money
Whose
Held in Trust
Consolidated
Whose
Balance Sheet
Consolidated
Balance Sheet Amount Does Not
Amount Exceeds Exceed Acquisition
Cost
Difference Acquisition Cost
– ¥

–

¥

–

Thousands of U.S. dollars
Other in Money
Held in Trust
Other in Money
Whose
Held in Trust
Consolidated
Whose
Balance Sheet
Consolidated
Balance Sheet Amount Does Not
Amount Exceeds Exceed Acquisition
Cost
Difference Acquisition Cost$
200,118 $
200,118 $– $– $–Note: “Other in Money Held in Trust Whose Consolidated Balance Sheet Amount Exceeds Acquisition Cost” and “Other inMoney Held in Trust Whose Consolidated Balance Sheet Amount Does Not Exceed Acquisition Cost” arecomponents of “Difference.”- 68 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Unrealized Gains (Losses) on Other Securities)
Details of Unrealized Gains/Losses on Other Securities on the consolidated balance sheet are as follows:
Millions of yen
As of March 31,
Difference between Acquisition Cost and Fair Value*1
Other Securities*2¥

Thousands of U.S. dollars

2024

2023

1,289,605 ¥

766,165

1,289,605

766,165

8,517,866(345,248)(188,935)(2,280,369)

944,356

577,230

6,237,490(18,490)(14,549)(122,126)

3,948

1,813

26,076

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 AffiliatedCompanies, which is attributable to MHFGNet Unrealized Gains (Losses) on Other Securities

2024$

8,517,866¥
929,815 ¥564,495$
6,141,446*1 The difference between acquisition cost and fair value excludes ¥53,159 million ($351,116 thousand) and ¥36,513
million which were recognized in the statements of income for the fiscal years ended March 31, 2024 and 2023,
respectively, by applying the fair-value hedge method and others.
*2 “Other Securities” includes translation differences regarding Stocks and others without a quoted market price andInvestments in Partnerships and others.

- 69 -

(Derivatives Information)
1. Derivative Transactions not Qualifying for Hedge Accounting
With regard to derivative transactions not qualifying for hedge accounting, contract value or contractual principal
equivalents, fair values and unrealized gains (losses) by type of transaction as of the consolidated balance
sheet date are as follows. Contract value amounts do not indicate the market
risk related to derivative transactions.
(1) Interest Rate and Bond-Related Transactions
Millions of yen
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)Interest Rate Futures:Sold37,788,349 ¥

21,238,205 ¥53,396 ¥53,39628,970,907

12,283,860(24,529)(24,529)

Sold

44,319,173–(4,492)

1,696

Bought50,624,457

–

3,759

(2,209)Sold

659,736

–

(794)

(794)

Bought221,669

–

446

446

Sold

4,163

–

(14)

(14)

Bought

8,924

–

9

7

Sold

42,030,457

191,224(81,481)(81,481)

Bought39,284,809–

64,00664,006

Receive Fixed / Pay Float

891,314,616

668,357,022(5,427,344)(5,427,344)

Receive Float / Pay Fixed

876,119,658

660,917,661

5,372,001

5,372,001

Receive Float / Pay Float

179,929,271

114,586,338

87,90787,907

Receive Fixed / Pay Fixed

558,272

533,640

15,187

15,187

Sold

46,889,271

22,316,809(110,642)(110,642)

Bought43,926,246

22,527,951

178,845

178,845

Sold

587,447

–

(972)

382

Bought587,447

–

1,111

(211)

Sold

9,573

910

(15)

(15)

Bought19,683–89

89

Receive Fixed / Pay Float

7,861,942

7,436,205(134,156)(134,156)

Receive Float / Pay Fixed

12,214,796

9,458,212

454,543454,543

Bought¥Interest Rate Options:

Bond Futures:

Bond Futures Options:Over-the-Counter:
FRAs:

Interest Rate Swaps:

Interest Rate Options:

Bond Options:

Bond Other:

Inter-company or Internal Transactions:Interest Rate Swaps:

Total
/
/ ¥
446,860 ¥447,112
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 70 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Millions of yen
Contract value
As of March 31, 2023
Listed:Total

Over one year

Fair value

Unrealized gains(losses)Interest Rate Futures:Sold¥

55,336,700 ¥

29,080,624 ¥

43,429 ¥43,42977,861,355

48,995,257

62,03062,030Sold

39,158,828–(4,457)274

Bought32,020,537

4,832

3,507

(364)

Sold

711,933–(8,248)(8,248)

Bought378,185

–

3,286

3,286

Sold

14,415

–

(23)

(23)

Bought397,112

–

301

(743)

Sold

43,239,019

2,590,083(200,437)(200,437)

Bought41,497,899

2,365,476

179,470

179,470

BoughtInterest Rate Options:

Bond Futures:

Bond Futures Options:Over-the-Counter:
FRAs:

Interest Rate Swaps:
Receive Fixed / Pay Float

710,226,104

561,108,502(4,957,290)(4,957,290)

Receive Float / Pay Fixed

704,431,927

549,848,401

4,843,451

4,843,451

Receive Float / Pay Float

217,368,629

119,663,951

73,95873,958

Receive Fixed / Pay Fixed

342,924

327,685

10,29910,299Sold

27,094,067

16,860,933(114,735)(114,735)

Bought26,566,635

15,972,893

169,959

169,959

Sold

766,239

–

(900)

20

Bought766,239

–

1,809

805

Sold

3,186

–

(45)

(45)

Bought

6,240

–

65

65

Receive Fixed / Pay Float

4,946,531

4,286,590(26,956)(26,956)

Receive Float / Pay Fixed

10,728,676

8,930,103

436,369

436,369

Interest Rate Options:

Bond Options:

Bond Other:

Inter-company or Internal Transactions:Interest Rate Swaps:

Total

/
/ ¥
514,844 ¥
514,575
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 71 -

Thousands of U.S. dollars
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)Interest Rate Futures:Sold$249,592,793 $

140,278,764 $

352,681 $352,681

191,353,414

81,135,138(162,014)(162,014)

Sold

292,729,015–(29,669)

11,202

Bought334,375,541–

24,828(14,590)Sold

4,357,569–(5,244)(5,244)

Bought1,464,128

–

2,945

2,945

Sold

27,496

–

(92)

(92)

Bought58,943

–

59

46

Sold

277,612,001

1,263,038(538,183)(538,183)

Bought259,476,941–

422,760

422,760

BoughtInterest Rate Options:

Bond Futures:

Bond Futures Options:Over-the-Counter:
FRAs:

Interest Rate Swaps:
Receive Fixed / Pay Float

5,887,150,700

4,414,511,373(35,847,714)(35,847,714)

Receive Float / Pay Fixed

5,786,787,701

4,365,374,247

35,482,173

35,482,173

Receive Float / Pay Float

1,188,436,400

756,845,033

580,627

580,627

Receive Fixed / Pay Fixed

3,687,397

3,524,702

100,310

100,310

Sold

309,704,564

147,402,965(730,792)(730,792)

Bought290,133,725

148,797,562

1,181,274

1,181,274

Sold

3,880,099–(6,420)2,523

Bought3,880,099

–

7,338

(1,393)

Sold

63,229

6,010

(99)

(99)

Bought130,006

–

587

587

Interest Rate Options:

Bond Options:

Bond Other:

Inter-company or Internal Transactions:Interest Rate Swaps:
Receive Fixed / Pay Float

51,928,282

49,116,281(886,103)(886,103)

Receive Float / Pay Fixed

80,678,969

62,471,677

3,002,265

3,002,265

Total

/
/ $
2,951,519 $
2,953,183
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 72 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(2) Currency-Related Transactions
Millions of yen
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)

Futures:Sold¥

50,203 ¥9,319 ¥–

197,127

20,544––

120,636,212

90,244,387

219,374

296,610Sold

108,089,971

6,525,763(1,412,278)(1,412,278)

Bought52,762,441

2,917,497

1,229,165

1,229,165

Sold

6,472,703

2,667,359(228,129)(154,368)

Bought6,241,773

2,660,018

94,730

16,244

4,487,905

2,236,392

764,453

33,29154,520–561

Bought¥–Over-the-Counter:
Swaps
Forwards:

Options:

Inter-company or Internal Transactions:
Swaps
Forwards:
Bought

561

Total

/
/ ¥
667,878 ¥Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

9,226

Millions of yen
Contract value
As of March 31, 2023
Listed:Total

Over one year

Fair value

Unrealized gains(losses)

Futures:
Sold¥

Bought54,992

¥

– ¥

–

¥

–

153,51328,525––

101,803,817

76,162,544

221,551

177,713

Sold

90,571,040

6,268,422(197,508)(197,508)

Bought

46,851,140

2,438,993

213,877

213,877

Sold

5,303,482

2,494,931(128,708)(75,733)

Bought

5,283,561

2,406,722

70,0204,297

3,839,109

3,222,519

259,825

11,189

387

–

12

12

Over-the-Counter:
Swaps
Forwards:

Options:

Inter-company or Internal Transactions:
Swaps
Forwards:
BoughtTotal// ¥439,070 ¥
133,848
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 73 -

Thousands of U.S. dollars
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)

Futures:Sold$

61,552 $–

1,302,027

135,693––

796,804,570

596,065,964

1,448,969

1,959,114

Sold

713,936,400

43,102,793(9,328,124)(9,328,124)

Bought348,496,968

19,270,125

8,118,659

8,118,659

Sold

42,752,331

17,617,959(1,506,796)(1,019,603)

Bought41,227,034

17,569,471

625,693

107,291

29,642,701

14,771,413

5,049,227

219,887

360,105

–

3,705

3,705

Bought331,591 $$–Over-the-Counter:
Swaps
Forwards:

Options:

Inter-company or Internal Transactions:
Swaps
Forwards:
BoughtTotal// $4,411,347 $
60,937
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
(3) Stock-Related Transactions
Millions of yen
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)(24,620)¥

Index Futures:
Sold¥

Bought1,373,470

¥

3,962

¥

(24,620)

205,661

41,837

9,427

9,427

Sold

2,134,813

200,019(183,910)(136,894)

Bought2,329,869

153,231206,211

166,508

1,118,853

368,154(19,243)(19,243)

Sold

3,815,757

1,173,442(478,553)(478,553)

Bought3,519,093

1,353,344

426,937

426,937

Index Futures Options:Over-the-Counter:
Equity Linked Swaps
Options:

Other:
Sold

70,64349,431

47

47

Bought358,529

174,21775,78875,788

Total

/
/ ¥
12,085 ¥19,399Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 74 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Millions of yen
Contract value
As of March 31, 2023
Listed:Total

Over one year

Fair value

Unrealized gains(losses)(10,360)¥

Index Futures:
Sold¥

Bought653,647

¥

4,954

¥

(10,360)

203,355

16,821

6,566

6,566

Sold

1,367,801

174,982(85,588)(44,049)

Bought

1,059,180

100,694

49,24917,375865,939385,268

80,79580,795

Sold

1,156,025

818,365(77,061)(77,061)

Bought1,196,967

938,768

102,183

102,183

Index Futures Options:Over-the-Counter:
Equity Linked Swaps
Options:

Other:
Sold
Bought––––341,807

116,446(20,637)(20,637)

Total

/
/ ¥
45,146 ¥54,811
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
Thousands of U.S. dollars
Contract value
As of March 31, 2024
Listed:Total

Over one year

Fair value

Unrealized gains(losses)(162,615)$

Index Futures:
Sold$

Bought9,071,796$

26,169$(162,615)

1,358,394

276,334

62,26562,265

Sold

14,100,482

1,321,129(1,214,729)(904,187)

Bought15,388,830

1,012,093

1,362,027

1,099,788

7,390,046

2,431,664(127,100)(127,100)

Sold

25,203,150

7,750,607(3,160,852)(3,160,852)

Bought23,243,678

8,938,863

2,819,927

2,819,927

466,598

326,492

310

310

2,368,091

1,150,706

500,581500,581Index Futures Options:Over-the-Counter:
Equity Linked Swaps
Options:

Other:
Sold
BoughtTotal// $79,821 $128,130
Note: The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.

- 75 -

(4) Commodity-Related Transactions
Millions of yen
Contract value
As of March 31, 2024

Total

Over one year

Fair value

Unrealized gains(losses)

Listed:Futures:Sold¥

202,317 ¥40,848 ¥(12,931) ¥(12,931)292,908

91,35820,66020,660

Sold

757

–

(6)

18

Bought

757

–

6

(18)

324,193

121,411(19,500)(19,500)

211,965

60,88911,074

11,074

BoughtFutures Options:Over-the-Counter:
Options:
Sold
BoughtTotal// ¥(697) ¥
(698)
Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. Commodities include oil, copper, aluminum and others.
Millions of yen
Contract value
As of March 31, 2023

Total

Over one year

Fair value

Unrealized gains(losses)

Listed:Futures:Sold¥

134,624 ¥

24,965 ¥(178) ¥

(178)

187,769

56,073

5,078

5,078

Sold

400

–

(19)

13

Bought

213

–

3

(2)

322,986

140,840(16,389)(16,389)

252,235

102,095

17,644

17,644

BoughtFutures Options:Over-the-Counter:
Options:
Sold
BoughtTotal// ¥6,137 ¥
6,164
Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. Commodities include oil, copper, aluminum and others.

- 76 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Thousands of U.S. dollars
Contract value
As of March 31, 2024

Total

Over one year

Fair value

Unrealized gains(losses)

Listed:Futures:Sold

1,336,307 $

269,801 $(85,409) $(85,409)

1,934,663

603,421

136,459

136,459

Sold

5,000

–

(39)

118

Bought

5,000

–

39

(118)

2,141,301

801,922(128,797)(128,797)

Bought$Futures Options:Over-the-Counter:
Options:
Sold
Bought1,400,033
402,173
73,14373,143Total// $(4,603) $(4,610)Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. Commodities include oil, copper, aluminum and others.

- 77 -

(5) Credit Derivative Transactions
Millions of yen
Contract value
As of March 31, 2024

Total

Over one year

Fair value

Unrealized gains(losses)Over-the-Counter:
Credit Derivatives:
Sold¥

Bought10,144,977¥

13,004,033

8,890,776 ¥

146,809 ¥146,809

10,668,499(112,708)(112,708)

Total

/
/ ¥
34,101 ¥34,101
Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.
Millions of yen
Contract value
As of March 31, 2023

Total

Over one year

Fair value

Unrealized gains(losses)Over-the-Counter:
Credit Derivatives:
Sold¥

Bought10,271,257¥

12,484,873

9,939,876 ¥

92,759 ¥92,75911,666,579(63,131)(63,131)

Total

/
/ ¥
29,628 ¥
29,628Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.
Thousands of U.S. dollars
Contract value
As of March 31, 2024

Over one year

Total

Fair value

Unrealized gains(losses)Over-the-Counter:
Credit Derivatives:
Sold
Bought$67,007,774$

85,891,895

58,723,751 $

969,676 $969,676

70,465,647(744,438)(744,438)

Total
/
/ $
225,237 $
225,237
Notes: 1. The above transactions are marked to market, and changes in unrealized gains (losses) are included in the
consolidated statement of income.
2. “Sold” and “Bought” indicate assumption and cession of credit risk, respectively.

- 78 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
2. Derivative Transactions Qualifying for Hedge Accounting
With regard to derivative transactions qualifying for hedge accounting, contract value or contractual principal
equivalents and fair values by type of transaction and its classification of hedge accounting as of the consolidated balance
sheet date are as follows. Contract value amounts do not indicate the market risk related to derivative transactions.
(1) Interest Rate and Bond-Related Transactions
Millions of yen
Contract value
As of March 31, 2024

Primary hedged items

Total

Over one year

Fair value

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

Loans, deposits,
borrowings, othersecurities and others¥

Receive Float / Pay Fixed

29,278,713¥

21,426,294¥(523,042)

9,797,058

9,251,085

160,336

8,398

5,398

(1,986)

Fair Value Hedge Method:
Interest Rate Swaps:

Other securities

Receive Float / Pay Float
Exceptional Accrual Method:
Interest Rate Swaps:

Loans and others

Note 2

Receive Float / Pay Fixed

60,44455,766

Total

/
/ ¥
(364,692)
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 “(Financial Instruments).”
Millions of yen
Contract value
As of March 31, 2023

Primary hedged items

Total

Over one year

Fair value

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

Loans, deposits,
borrowings, othersecurities and others

Receive Float / Pay Fixed¥

24,175,524¥

21,076,983¥(491,392)

7,820,973

7,139,414

12,460

7,962

1,327

178

7,279

7,211

(1,442)

Fair Value Hedge Method:
Interest Rate Swaps:
Receive Float / Pay Fixed

Loans and others

Receive Float / Pay Float
Exceptional Accrual Method:
Interest Rate Swaps:

Loans and others

Note 2

Receive Float / Pay Fixed

46,091

Total

42,205// ¥(480,194)
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 “(Financial Instruments).”- 79 -

Thousands of U.S. dollars
Contract value
As of March 31, 2024

Primary hedged items

Total

Over one year

Fair value

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

Loans, deposits,
borrowings, othersecurities and others

Receive Float / Pay Fixed$

193,386,479$

141,521,096$(3,454,702)

64,709,762

61,103,599

1,059,022

55,46835,653(13,117)

Fair Value Hedge Method:
Interest Rate Swaps:

Other securities

Receive Float / Pay Float
Exceptional Accrual Method:
Interest Rate Swaps:

Loans and others

Note 2

Receive Float / Pay Fixed

399,233

Total

368,335// $(2,408,797)
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 “(Financial Instruments).”- 80 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(2) Currency-Related Transactions
Millions of yen
Contract value
As of March 31, 2024
Primary Method:
Swaps
Forwards:
Sold

Primary hedged items
Loans, deposits,
borrowings, parent
company’s interest of
subsidiaries’ net assets
and others

Total
¥

9,228,162

Over one year¥

3,049,034

Fair value¥(641,863)

30

–

(0)

14,174

11,257

1,462

197,351

11,436

1,805

142,861

11,436(888)

Fair Value Hedge Method:
Swaps

Loans andother securities

Forwards:
Sold
BoughtTotal// ¥(639,485)
Note: Primarily the deferred method is applied under “Accounting and Auditing Treatment Relating to Adoption of
Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Committee Practical Guidelines
No. 25, October 8, 2020).
Millions of yen
Contract value
As of March 31, 2023
Primary Method:
Swaps
Forwards:
Sold

Primary hedged items
Loans, deposits,
borrowings, parent
company’s interest of
subsidiaries’ net assets
and others

Total
¥

10,632,083

Over one year¥

3,789,822

Fair value¥(231,625)

5,204

–

48

168

–

(44)

61,88214(1,028)63,08414

4,078

Fair Value Hedge Method:
Swaps

Loans andother securities

Forwards:
Sold
BoughtTotal// ¥(228,571)
Note: Primarily the deferred method is applied under “Accounting and Auditing Treatment Relating to Adoption of
Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Committee Practical Guidelines
No. 25, October 8, 2020).
Thousands of U.S. dollars
Contract value
As of March 31, 2024
Primary Method:
Swaps
Forwards:
Sold

Primary hedged items
Loans, deposits,
borrowings, parent
company’s interest of
subsidiaries’ net assets
and others

Total
$

60,952,192

Over one year$

20,138,929

Fair value$(4,239,517)

198

–

(0)

93,61974,352

9,656

1,303,507

75,535

11,922

943,599

75,535(5,865)

Fair Value Hedge Method:
Swaps

Loans andother securities

Forwards:
Sold
BoughtTotal// $(4,223,811)
Note: Primarily the deferred method is applied under “Accounting and Auditing Treatment Relating to Adoption of
Accounting Standards for Foreign Currency Transactions for Banks” (JICPA Industry Committee Practical Guidelines
No. 25, October 8, 2020).

- 81 -

(3) Stock-Related Transactions
Millions of yen
Contract value
As of March 31, 2024
Primary Method:
Index Futures:

Primary hedged items

Total

Over one year

Fair value

Other securities

Sold

¥

581,034¥–¥(10,181)

Fair Value Hedge Method:
Forward Stock Agreements:

Other securities

Sold
Total

78,058

4,470

/

/

(15,563)¥(25,745)
Millions of yen

Contract value
As of March 31, 2023
Primary Method:
Index Futures:

Primary hedged items

Total

Over one year

Fair value

Other securities

Sold

¥

381,410

¥

–

¥

(668)

Fair Value Hedge Method:
Forward Stock Agreements:

Other securities

Sold
Total

97,795

14,387//(14,242)¥(14,910)

Thousands of U.S. dollars
Contract value
As of March 31, 2024
Primary Method:
Index Futures:

Primary hedged items

Total

Over one year

Fair value

Other securities

Sold

$

3,837,741$–$(67,245)

Fair Value Hedge Method:
Forward Stock Agreements:

Other securities

Sold
Total

- 82 -

515,574

29,524//(102,793)$(170,046)

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Reserve for Employee Retirement Benefits)
1. Overview of Adopted Retirement Benefit Plans(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 thanrisk-sharing corporate pension as a part of the Termination Allowance Plans. As MHFG and its certain consolidated
subsidiaries participate in a multi-employer corporate pension plan, and the amounts of plan assets corresponding totheir own contributions can be reasonably calculated, they are included in “2. Defined-Benefit Corporate Pension Plans.”(2) Certain consolidated subsidiaries have established employee retirement benefit trusts.
2. Defined-Benefit Corporate Pension Plans(1) Adjustment between the balances of Retirement Benefit Obligations at the beginning and at the end of the period
Millions of yen
For the Fiscal Years ended March 31,
Balance of Retirement Benefit Obligations at the
beginning of the period
Service Cost

2024¥

1,200,089¥

Unrecognized Actuarial Differences incurred

2024

1,278,926

28,618Interest Cost

Thousands of U.S. dollars
2023$

30,283

7,926,611
189,022

8,664

5,578

57,225(16,209)(33,898)(107,060)

Retirement Benefits paid

(71,364)(76,738)(471,360)
Other(4,062)
4,498
681
Balance of Retirement Benefit Obligations at the end¥
1,150,480 ¥
1,200,089$
7,598,943
of the period
Note: The above Retirement Benefit Obligations includes the amount measured by certain consolidated subsidiaries under
the simplified method.
(2) Adjustment between the balances of Plan Assets at the beginning and at the end of the period
Millions of yen
For the Fiscal Years ended March 31,
Balance of Plan Assets at the beginning of the period

2024¥

1,990,930

Thousands of U.S. dollars
2023¥

2,070,370

2024$

13,150,132

Expected Return on Plan Assets

32,112

34,142

212,100

Unrecognized Actuarial Differences incurred

108,30263,215715,336

Contributions from employer

31,442

27,517

207,675

Contributions from employee

1,025

1,053

6,770

(53,526)(54,161)(353,540)(179,436)(147,181)(1,185,178)(404)(4,025)(2,668)Retirement Benefits paid
Cancellation of Employee Retirement Benefit
Trust
Other
Balance of Plan Assets at the end of the period¥

1,930,446- 83 -¥

1,990,930$

12,750,634

(3) 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
As of March 31,

2024

Retirement Benefit Obligations
Plan Assets
Net amount of Liability and Asset recorded in theConsolidated Balance Sheet¥

1,150,480¥(1,930,446)¥(779,965)

Thousands of U.S. dollars
2023

1,200,089¥(790,841)

2024

Net Defined Benefit Liability
Net Defined Benefit Asset
Net amount of Liability and Asset recorded in theConsolidated Balance Sheet¥

67,151¥(779,965)$(5,151,684)

Thousands of U.S. dollars
68,4292024$(859,271)¥

7,598,943(12,750,634)

2023(847,116)¥$(1,990,930)

Millions of yen
As of March 31,

2024(790,841)

443,533(5,595,217)$(5,151,684)(4) Employee Retirement Benefit Expenses and the breakdown
Millions of yen
For the Fiscal Years ended March 31,
Service Cost

2024¥

Interest Cost

27,473Thousands of U.S. dollars
2023¥

29,3082024$

181,459

8,664

5,578

57,225

Expected Return on Plan Assets(32,112)(34,142)(212,100)

Amortization of Unrecognized Actuarial Differences(37,750)(47,385)(249,339)

Amortization of Unrecognized Prior Service Cost

(23)
11
(151)
Other
3,107
6,748
20,521Net Retirement Benefit Expenses for Defined-Benefit
Corporate Pension Plans¥(30,640) ¥(39,882)$(202,377)
Gains on Cancellation of Employee Retirement Benefit
Trust¥(52,738) ¥(47,627)$(348,335)
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 and others in full.
3. Gains on Cancellation of Employee Retirement Benefit Trust is included in Extraordinary Gains.
(5) 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
For the Fiscal Years ended March 31,
Unrecognized Actuarial Differences

2024
¥

Other

(41,615)

¥

23
Total

¥

- 84 -(41,592)

Thousands of U.S. dollars
2023(19,141)

2024
$

(11)
¥

(19,153)(274,867)
151$(274,715)

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(6) 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
As of March 31,

2024

Unrecognized Actuarial Differences

¥

Other

(304,590)¥(262,960)

(148)
Total

¥

(304,738)

Thousands of U.S. dollars
2023

2024
$

(171)
¥

(263,131)(2,011,822)
(977)

$

(2,012,800)(7) Plan Assets(a) Ratio of each category to the total amount of Plan Assets was as follows:
As of March 31,

2024

2023

Japanese Stocks

49.62%

53.44%

Japanese Bonds

15.08%

11.30%

Foreign Stocks

15.87%

13.89%

Foreign Bonds

11.10%

10.64%

General account of life insurance companies

6.36%

5.78%

Other

1.97%

4.95%

100.00%100.00%Total

Note: The total amount of Plan Assets includes 47.95% and 51.41% of Employee Retirement Benefit Trust established for
the Corporate Pension Fund Plans and the Termination Allowance Plans as of March 31, 2024 and 2023,
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 havebeen considered.
(8) Basis of actuarial calculation
Major Basis of Actuarial Calculation
2024

2023

Discount Rate

For the Fiscal Years ended March 31,

mainly 0.14% - 2.08%

mainly (0.00)% - 1.54%

Expected Long-term Rate of Return on Plan Assets

mainly 0.79% - 1.90%

mainly 0.88% - 1.90%

3. Defined-Contribution Pension Plans
The required amount of contributions to Defined-Contribution Pension Plans of MHFG and its consolidated subsidiaries
was ¥9,003 million ($59,464 thousand) and ¥7,322 million for the fiscal years ended March 31, 2024 and 2023,
respectively.

- 85 -

(Stock Options and Others)
1. Outline of Stock Options and Changes(1) Outline of stock options
As of March 31, 2024

Number of grantees

Number of stock options*1
Grant dateSeventh Series of Stock Acquisition Rights of MHFG
Directors
2
Executive Officers as defined in
12
the Companies Act
Executive Officers as defined in37
our internal regulations
Directors of subsidiaries of32
MHFG
Executive Officers of subsidiaries
113
of MHFG
Common stock
960,200

Required service period

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

Exercise period

December 2, 2014 to December 1, 2034

Condition for vesting*1: Shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.
(2) Size of stock options and changes(a) Number of stock options (in shares)
For the Fiscal Year ended
March 31, 2024
Non-vested

Seventh Series of Stock Acquisition Rights of MHFG

As of March 31, 2023

2,900

Granted–Forfeited–

Vested–Outstanding

2,900

VestedAs of March 31, 2023–

Vested–Exercised–

Forfeited–

Outstanding–

Note: The above table is shown in number of shares.
The Number reflects the share consolidation effective as of October 1, 2020.
(b) Price information
As of March 31, 2024

Seventh Series of Stock Acquisition Rights of MHFG

Exercise price¥1 per share

Average stock price upon exercise–

Fair value at grant date

¥1,869.90 per 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.

- 86 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
2. 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.

- 87 -

(Deferred Tax Assets and Liabilities)
1. Deferred Tax Assets and Liabilities consisted of the following:
Millions of yen
As of March 31,

2024

Thousands of U.S. dollars
2023

2024

Deferred Tax Assets:
Tax Losses Carried Forward (Note)¥

149,521¥

168,386$

987,589

Devaluation of Securities

68,31597,467451,221

Reserves for Possible Losses on Loans
Securities Contributed to Employee Retirement
Benefit Trust
Net Unrealized Losses on Other Securities

235,983

223,814

1,558,672

102,443

115,500

676,638

116,905

126,249

772,159

Foreign Tax

124,695

54,416

823,612Net Deferred Hedge Losses

136,555

164,031

901,948

Depreciation and Impairment

89,131

112,599588,712Other

238,941

211,429

1,578,210

1,262,492

1,273,895

8,338,784(123,449)(151,877)(815,383)(183,380)(134,555)(1,211,228)

Deferred Tax Assets Subtotal:
Valuation Allowance - Tax Losses Carried Forward(Note)
Valuation Allowance – Deductible Temporary
Differences, etc.
Valuation Allowance Subtotal:
Total(306,829)(286,433)(2,026,611)¥

955,663¥

987,461$

6,312,173¥(442,091)¥(306,406)$(2,920,019)

Deferred Tax Liabilities:
Net Unrealized Gains on Other Securities
Net Defined Benefit Asset(259,365)(263,085)(1,713,110)

Other(145,835)(124,192)(963,243)

Total

¥

(847,292)¥(693,684)$(5,596,380)

Net Deferred Tax Assets¥

108,370¥

293,776$

715,785(Change in Presentation of Financial Statements)
Foreign Tax 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 in presentation of the financial
statements, reclassification of the previous consolidated fiscal year has been made accordingly.
As a result, Other - Deferred Tax Assets of ¥265,846 million presented in the consolidated statements for the previous
consolidated fiscal year has been reclassified as Foreign Tax of ¥54,416 million and Other of ¥211,429 million.

- 88 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
Note : Tax Losses Carried Forward and amounts according to expiration of carryforward of their Deferred Tax Assets:
As of March 31, 2024

Millions of yen
Within 1 year

Tax Losses Carried
Forward*Valuation Allowance¥0

1-2 years

2-3 years

3-4 years

4-5 years Over 5 years

¥

¥

¥

¥

9,256

545

–

930

¥ 138,788¥ 149,521–(4,276)

(545)

–

(930)

(117,696)(123,449)

0

4,980

–

–

–

21,091

26,072

Within 1 year

1-2 years

2-3 years

3-4 years

4-5 years Over 5 years

¥

¥

¥

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

Millions of yen¥

Deferred Tax Assets

16

749

Total

0

¥ 49,490–¥ 118,129¥ 168,386––(43,585)(749)–(107,541)(151,877)

16

0

5,904

–

–

10,587

16,508

As of March 31, 2024

Thousands of U.S. dollars
Within 1 year

Tax Losses Carried
Forward*Valuation Allowance

Total

$

1-2 years

2-3 years

3-4 years

4-5 years Over 5 years

0$ 61,136

$

$

$

–

(28,243)

3,599(3,599)––Deferred Tax Assets

Total

6,142

$ 916,697$ 987,589(6,142)(777,384)(815,383)

139,306

172,206

0
32,892––*Tax Losses Carried Forward is the amount multiplied by the effective statutory tax rate.

–

2. For the fiscal years ended March 31, 2024 and 2023, 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,

2024

2023

30.62%

30.62%(5.16)(3.13)(0.98)(2.08)(1.57)(1.15)(0.84)(0.47)

Controlled Foreign Company Rules

0.11

0.24

Foreign Tax
Temporary Differences Related to Investments in
Subsidiaries and Affiliates
Scope of Taxable Income Differences between
Corporate Income Tax and Enterprise Income Tax
Other

6.45

4.90

0.87

(0.49)(1.77)(1.33)

0.72

0.98

28.45%

28.09%

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

Effective Income Tax Rate
(Change in Presentation of Financial Statements)

Temporary Differences Related to Investments in Subsidiaries and Affiliates included within Other in the previous
consolidated year has been separately presented from this consolidated fiscal year due to increased materiality. In order toreflect the change in presentation of the financial statements, reclassification of the previous consolidated fiscal year has
been made accordingly.
As a result, Other of 0.49% presented in the consolidated statements for the previous consolidated fiscal year has been
reclassified as Temporary Differences Related to Investments in Subsidiaries and Affiliates of (0.49)% million and Other of
0.98%.

- 89 -

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, andrecorded and disclosed corporate tax and local corporate tax or the related tax-effect accounting in accordance with
“Treatment of accounting and disclosure for applying the Japanese Group Relief System” (Practical Solutions No. 42,
August 12, 2021).

- 90 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Revenue Recognition)(1) Revenue breakdown information
Millions of yen
For the Fiscal Years ended March 31,
Ordinary Income

2024¥

Fee and Commission Income

8,744,458
1,060,235

Thousands of U.S. dollars
2023¥

5,778,772
915,5342024$

57,757,318
7,002,873

Deposits and Lending business*1

358,100

308,235

2,365,257

Securities-related business

251,246

188,131

1,659,484

Remittance business

107,133

104,059

707,615

Trust-related business

79,37275,665524,253

Guarantee-related business*2

43,85040,375

289,630

Agency business

38,32836,529253,157

Fees for other customer services

182,203

162,537

1,203,454

61,487

58,958406,122

Fiduciary Income
Other Ordinary Income*1

7,622,735
4,804,279
50,348,315*1 A portion of these amounts are considered to be revenues from contracts that are within the scope of “AccountingStandard for Revenue Recognition.”*2 These amounts are revenues from contracts that do not meet the scope of “Accounting Standard for Revenue
Recognition.”*3 In the above table, revenues that are within the scope of “Accounting Standard for Revenue Recognition” are mainly
generated from “Retail & Business Banking Company,” “Corporate & Investment Banking Company” and “Global
Corporate & Investment Banking Company.”(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 years ended March 31, 2024 and March 31, 2023. Contracts with a term of up to one year and contracts forwhich revenue can be recognized at the amount our group has the right to claim are not included in the subject of thisreport.

- 91 -

(Business Segment Information, etc.)[Business Segment Information]
1. Summary of Reportable Segment
MHFG has introduced an in-house company system based on the group’s diverse customer segments. The aim of 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 (RBC), the Corporate & Investment Banking Company (CIBC), theGlobal Corporate & Investment Banking Company (GCIBC), the Global Markets Company (GMC), and the AssetManagement Company (AMC).
The services that each in-house company is in charge of are as follows:
RBC:
Services for individual customers, small and medium-sized enterprises and middle market firms in Japan
CIBC:
Services for large corporations, financial institutions and public corporations in Japan
GCIBC:
Services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers, etc.
GMC:
Investment services with respect to interest rates, equities and credits, etc., and other services
AMC:
Development of products and provision of services that match the asset management needs of its wide range ofcustomers 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 performanceof each of the operating segments in accordance with internal managerial accounting rules and practices.
Effective as of April 1, 2023, MHFG partially restructured its in-house company system. CIBC was newly established by
the integration of the Corporate & Institutional Company and the investment banking functions of the Global Products
Unit. With the establishment of CIBC, the Global Corporate Company changed its name to GCIBC.
2. Calculating method of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related
to ETFs and others, 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, 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 (Losses) related to ETFs and othersis the total amount of Interest Income, Fiduciary Income, Fee and Commission Income, Trading Income, Other Operating
Income, and Net Gains (Losses) related to ETFs and others.
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) generalreserve for losses on loans) + Net Gains (Losses) related to ETFs and others is the amount of which General and
Administrative Expenses (excluding Non-Recurring Losses and others), Equity in Income from Investments in Affiliates,
and Amortization of Goodwill and others (including Amortization of Intangible Assets) are deducted from, or added to,Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others.
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others
relating to transactions between segments is based on the current market price.

- 92 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements
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.
3. Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others,
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) generalreserve for losses on loans) + Net Gains (Losses) related to ETFs and others, and Fixed Assets by reportable segment
Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2024
Gross Profits (excluding
the amounts of credit
costs of trust accounts) +Net Gains (Losses)
related to ETFs andothers¥General and
Administrative Expenses(excluding Non-Recurring
Losses and others)
Equity in Income from
Investments in Affiliates
Amortization of Goodwill
and others
Net Business Profits(excluding the amountsof credit costs of trust
accounts, before reversalof (provision for) generalreserve for losses onloans) + Net Gains(Losses) related to ETFs
and others¥
Fixed Assets
¥

RBC

CIBC

GCIBC

GMC

AMC

Others(Note 2)

749,224 ¥

556,311 ¥670,215 ¥432,456 ¥

57,221 ¥206,823 ¥ 2,672,250

651,128

217,770

352,425

307,450

36,118117,018

1,681,909

6,950

7,656

22,013–(11,873)

1,475

26,221

–

–

2,389

–

6,474

1,865

10,728

Total

105,046 ¥

346,197 ¥337,414 ¥

125,006 ¥2,756 ¥

89,415 ¥ 1,005,834

533,810 ¥

157,161 ¥

197,902 ¥90,329 ¥– ¥885,411 ¥ 1,864,613
Millions of yen

For the Fiscal Year
ended March 31, 2023
Gross Profits (excluding
the amounts of credit
costs of trust accounts) +Net Gains (Losses)
related to ETFs andothers¥General and
Administrative Expenses(excluding Non-Recurring
Losses and others)
Equity in Income from
Investments in Affiliates
Amortization of Goodwill
and others
Net Business Profits(excluding the amountsof credit costs of trust
accounts, before reversalof (provision for) generalreserve for losses onloans) + Net Gains(Losses) related to ETFs
and others¥
Fixed Assets¥

MHFG (Consolidated)

Others(Note 2)

RBC

CIBC

GCIBC

GMC

AMC

706,594 ¥508,706 ¥627,188 ¥314,200 ¥54,786 ¥68,772 ¥ 2,280,246

605,770

202,086

309,277

253,495

35,02567,911

1,473,564(18,370)

6,376

20,383

–

(62)

3,562

11,889

2,071

91

719

770

6,861

922

11,43480,383 ¥312,905 ¥337,575 ¥

59,935 ¥12,838 ¥3,500 ¥

807,136

483,323 ¥

152,802 ¥177,749 ¥87,317 ¥– ¥- 93 -

Total

777,380 ¥ 1,678,571

Thousands of U.S. dollars
MHFG (Consolidated)
For the Fiscal Year
Others
RBC
CIBC
GCIBC
GMC
AMC
Total
ended March 31, 2024
(Note 2)Gross Profits (excluding
the amounts of credit
costs of trust accounts) +Net Gains (Losses)
related to ETFs andothers$ 4,948,639 $ 3,674,445 $ 4,426,783 $ 2,856,380 $ 377,945 $ 1,366,070 $ 17,650,264
General and
Administrative Expenses(excluding Non-Recurring
Losses and others)
4,300,713 1,438,375 2,327,774 2,030,713
238,560
772,906 11,109,042
Equity in Income from
Investments in Affiliates
45,90450,568145,396–(78,421)
9,742
173,190
Amortization of Goodwill
and others––
15,779–42,76012,31870,858Net Business Profits(excluding the amountsof credit costs of trust
accounts, before reversalof (provision for) generalreserve for losses onloans) + Net Gains(Losses) related to ETFs
and others$ 693,830 $ 2,286,638 $ 2,228,626 $ 825,667 $
18,203 $ 590,587 $ 6,643,553
Fixed Assets$ 3,525,825 $ 1,038,051 $ 1,307,146 $ 596,624 $– $ 5,848,157 $ 12,315,805
Notes: 1. Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs andothers is reported instead of sales reported by general corporations. Net Gains (Losses) related to ETFs andothers amounted to ¥(31,054) million ($(205,112) thousand) and ¥1,840 million, of which ¥(37,085) million($(244,947) thousand) and ¥(299) million are included in the GMC for the fiscal year ended March 31, 2024 and2023, respectively.
2. "Others" includes items which should be eliminated as internal transactions between each segment on aconsolidated basis.
3. "Others" in Fixed Assets includes assets of headquarters that have not been allocated to each segment, Fixed
Assets pertaining to consolidated subsidiaries that are not subject to allocation, consolidated adjustments, andothers.
Among Fixed Assets that have not been allocated to each segment, some related expenses are allocated toeach segment using a reasonable criteria of allocation.
4. Following the partial restructuring of in-house companies and the change in allocation method for transactions
between each segment and "Others" made in April 2023, reclassification was made on the above table to reflect
the relevant change.

- 94 -

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 in the Consolidated
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 (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 (Losses) related to ETFs and others derived
from internal management reporting by reportable segment are different from the amounts recorded in the Consolidated
Statement of Income.
The contents of the difference for the period are as follows:(1) The total of Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to
ETFs and others of Segment Information and Ordinary Profit recorded in the Consolidated Statement of Income
Millions of yen

Thousands of U.S. dollars

2024
Gross Profits (excluding the amounts of credit costs oftrust accounts) + Net Gains (Losses) related to ETFs
and others
Net Gains (Losses) related to ETFs and others¥

2,672,250

Other Ordinary Expenses
Ordinary Profit recorded in Consolidated Statement of
Income¥2,280,246

2024$

17,650,264

31,054(1,840)205,112

399,078

180,579

2,635,918(1,663,951)(1,445,283)(10,990,429)(524,383)(224,095)(3,463,560)

Other Ordinary Income
General and Administrative Expenses

2023

¥

914,047¥

789,606$

6,037,298(2) 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 (Losses) related to ETFs and others of Segment Information andIncome before Income Taxes recorded in the Consolidated Statement of Income
Thousands of U.S. dollars

Millions of yen
2024
Net Business Profits (excluding the amounts of credit
costs of trust accounts, before reversal of (provisionfor) 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
Loans, and 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¥

1,005,834¥- 95 -

2023¥

807,1362024$

6,643,553

28,686

39,715

189,471(114,038)(96,737)(753,223)

7,687

7,426

50,77254,72084,633

361,426

40,987(10,641)

270,719(68,842)(52,568)(454,702)

955,035¥

778,964$

6,308,025

[Related Information]
1. Information about Geographic Areas(1) Ordinary Income
Millions of yen
2024
Ordinary Income

Japan
¥

Americas2,887,623 ¥Asia/Oceania
excluding Japan

Europe3,924,994¥

836,830 ¥1,095,009

Total¥

8,744,458
Millions of yen

2023
Ordinary Income

Japan
¥

2024
Ordinary Income

2,248,427

Americas¥

Japan

Europe2,335,600¥

AmericasAsia/Oceania
excluding Japan

455,785 ¥738,958

Total¥

5,778,772

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

Europe$19,072,807 $
25,924,663 $
5,527,278 $
7,232,556 $
57,757,318
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.
3. In Americas, the U.S. accounted for ¥3,616,126 million ($23,884,583 thousand) and ¥2,160,821 million for the
fiscal years ended March 31, 2024 and 2023, respectively.
(2) Tangible Fixed Assets
Millions of yen
2024
Tangible Fixed
AssetsJapan¥

1,014,566 ¥Americas

Europe92,558¥Asia/Oceania
excluding Japan

9,619 ¥

22,726 ¥Total
1,139,470

2023
Information on Tangible Fixed Assets by geographical areas as of March 31, 2023 is not disclosed since Tangible Fixed
Assets in Japan accounted for more than 90% of Tangible Fixed Assets.

2024
Tangible Fixed
AssetsJapan$

6,701,228 $Americas

Europe611,347$

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

63,533 $150,105 $7,526,221

2. 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.

- 96 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements[Information about Impairment Loss on Tangible Fixed Assets by Reportable Segment]
Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2024
Impairment Loss

RBC
¥

CIBC

2,951 ¥

GCIBC

290 ¥

1,407 ¥

GMC

AMC

243 ¥

Others
– ¥

Total

3,072

¥

7,963

Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2023
Impairment Loss

RBC
¥

CIBC

35,743 ¥

GCIBC

791 ¥

110 ¥

GMC

AMC

991 ¥

Others– ¥Total

13,910¥51,545

Thousands of U.S. dollars
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2024
Impairment Loss

RBC

CIBC

GCIBC

GMC

AMC

OthersTotal– $ 20,290 $
52,595$ 19,491 $
1,915 $
9,293 $
1,605 $
(Note) Following the partial restructuring of in-house companies and the change in allocation method for transactions
between each segment and "Others" made in April 2023, reclassification was made on the above table to reflect therelevant change.
[Information about Amortization and Unamortized Balance of Goodwill by Reportable Segment]
Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2024
Amortization of Goodwill
Unamortized Balance ofGoodwill

RBC

CIBC

GCIBC

GMC

AMC

Others

Total

¥

– ¥

–

¥

1,320 ¥

– ¥2,670 ¥

1,030 ¥

5,020

¥

– ¥

–

¥

73,337 ¥– ¥33,348 ¥

9,732 ¥

116,417

Millions of yen
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2023
Amortization of Goodwill
Unamortized Balance ofGoodwill

RBC

CIBC

GCIBC

GMC

AMC

Others

Total

¥

– ¥

–

¥

477 ¥

– ¥

2,670 ¥

624 ¥

3,771

¥

– ¥

–

¥

3,036 ¥

– ¥36,016 ¥10,561 ¥49,613Thousands of U.S. dollars
MHFG (Consolidated)
For the Fiscal Year
ended March 31, 2024
Amortization of Goodwill
Unamortized Balance ofGoodwill

RBC

CIBC

GCIBC

$

– $

–

$

$

– $

–

$ 484,392 $

8,718 $

GMC

AMC
– $

• There is no applicable information.

- 97 -

Total

17,635 $6,803 $

33,157– $ 220,264 $

64,280 $768,936[Information about Gain on Negative Goodwill Incurred by Reportable Segment]
For the fiscal years ended March 31, 2024 and 2023

Others[Related Parties]
1. Transactions with Related Parties(1) Transactions between MHFG and related parties
For the fiscal years ended March 31, 2024 and 2023
• There are no material transactions to disclose.
(2) Transactions between consolidated subsidiaries of MHFG and related parties
Corporate pension for employees
For the fiscal year ended March 31, 2024
Type

Corporate
pensionName ofCompany or
Individual

Employee
Retirement
Benefit
Trust

Location–

Capital or Description
Transaction
Share ofRelation Description of
Investment of BusinessAmountVoting with Relatedthe(Millions ofor(Millions ofRights (%)
Party
Transactionyen)
Occupation
yen)

–

–

–

Pensionassetsunder thePartial return
accountingof pension ¥forassetsemployeeretirement
benefit

186,021

Items of
Account

Balance at theEnd of the
Period (Millionsof yen)––Items of
Account

Balance at theEnd of the
Period (Millionsof yen)––Items of
Account

Balance at theEnd of the
Period(Thousands of
U.S. dollars)––

For the fiscal year ended March 31, 2023
Type

Corporate
pensionName ofCompany or
Individual

Employee
Retirement
Benefit
Trust

Location–

Capital or Description
Transaction
Share ofRelation Description of
Investment of BusinessAmountVoting with Relatedthe(Millions ofor(Millions ofRights (%)
Party
Transactionyen)
Occupation
yen)

–

–

–

Pensionassetsunder thePartial return
accountingof pension ¥forassetsemployeeretirement
benefit

164,187

For the fiscal year ended March 31, 2024
Type

Name ofCompany or
Individual

Location

Corporate
pension

Employee
Retirement
Benefit
Trust–

Capital orTransaction
Description
Investment
Share ofRelation Description ofAmountof Business(Thousands
Voting with Relatedthe(Thousands
orof U.S.
Rights (%)
Partyof U.S.
Transaction
Occupation
dollars)
dollars)
Pensionassetsunder thePartial return
accounting–––of pension $ 1,228,672
forassetsemployeeretirement
benefit

2. Notes to Parent Company and Significant Affiliates
For the fiscal years ended March 31, 2024 and 2023
• There is no applicable information.

- 98 -

Financial Data of Mizuho Financial Group, Inc.

Notes to Consolidated Financial Statements(Per Share Information)
Yen
As of or for the fiscal years ended March 31,

U.S. dollars

2024

Net Assets per Share of Common Stock

¥

2023

2024

4,037.28 ¥3,603.98

Net Income per Share of Common Stock267.88219.20

$

26.66
1.76

Diluted Net Income per Share of Common Stock267.88219.191.76

Notes: 1. Total Net Assets per Share of Common Stock is based on the following information:

2024

2023

Thousands of U.S.
dollars2024¥ 10,312,135¥ 9,208,463$ 68,111,856

79,59775,168525,739

Millions of yen
As of March 31,
Net Assets per Share of Common Stock
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

5

5

33

79,59175,163525,700

10,232,538

9,133,294

67,586,116

2,534,510 Thousand shares

2,534,222 Thousand shares/

2. Net Income per Share of Common Stock and Diluted Net Income per Share of Common Stock are based on thefollowing information:
Thousands of U.S.
Millions of yen
dollars
For the fiscal years ended March 31,
2024
2023
2024
Net Income per Share of Common Stock
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)
Diluted Net Income per Share of Common Stock
Adjustment to Profit Attributable to Owners of
Parent¥Increased Number of Shares of Common
Stock
Stock Acquisition Rights
Description of Dilutive Securities which were
not included in the calculation of Diluted Net
Income per Share of Common Stock as they
have no dilutive effects

678,993¥555,527$

4,484,762–––

678,993555,527

4,484,762

2,534,673 Thousand shares–

2,534,340 Thousand shares

¥

–

/

$

–

2 Thousand shares

15 Thousand shares/

2 Thousand shares

15 Thousand shares

/

–

–

/

3. In the calculation of Net Assets per Share of Common Stock, MHFG shares outstanding in BBT trust accountthat were recognized as Treasury Stock in Shareholders' Equity are included in Treasury Stock shares deductedfrom the number of issued shares as of March 31, 2024 and 2023. The numbers of such Treasury Stock sharesdeducted during the period ended March 31, 2024 and 2023 are 2,910 thousand and 3,231 thousand,respectively.
In the calculation of Net Income per Share of Common Stock and Diluted Net Income 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 numbers of such Treasury Stockshares deducted during the period ended March 31, 2024 and 2023 are 2,759 thousand and 3,275 thousand,respectively.

- 99 -

(Subsequent Events)
There is no applicable information.

- 100 -

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

Mizuho Financial Group, Inc.
102

Non-Consolidated Balance Sheet

104

Non-Consolidated Statement of Income

Mizuho Bank, Ltd.
105

Non-Consolidated Balance Sheet

107

Non-Consolidated Statement of Income

Mizuho Trust & Banking Co., Ltd.
108

Non-Consolidated Balance Sheet

109

Non-Consolidated Statement of Income

Mizuho Securities Co., Ltd.
110

Non-Consolidated Balance Sheet

113

Non-Consolidated Statement of Income- 101 -

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

Mizuho Financial Group, Inc.
2. Non-Consolidated Financial Statements(1) Non-Consolidated Financial Statements(a) Non-Consolidated Balance Sheet
Thousands of
U.S. dollars
2024

Millions of yen
As of March 31,
AssetsCurrent Assets
Cash and Due from Banks
Prepaid Expenses
Current Portion of Long-term Loans to
Subsidiaries and Affiliates
Other Current Assets

2024

¥

23,824
4,593

Total Fixed Assets$

157,357
30,3362,580,845

206,269

115,341

1,362,410

625,428

368,614

4,130,964

48,84816,306352
32,1251

50,002
17,325463
32,125
6

322,642
107,701
2,324
212,1866

62
19,302
0
8,083
11,21815,596,843
9
5,919,654

80
11,014
0
1,919
9,095
14,893,552
2
5,828,454

409
127,490053,38874,095103,017,457
59
39,099,431

9,620,484

9,010,936

63,543,487

106
34,15522,433110
31,59422,454700
225,594
148,170

15,664,995¥

47,875
3,609
201,788

Total Current Assets

Total Assets¥

390,740

Fixed Assets
Tangible Fixed Assets
Buildings
Equipment
Land
Construction in Progress
Other Tangible Fixed Assets
Intangible Fixed Assets
Trademarks
Software
Other Intangible Fixed Assets
Investments
Investment Securities
Investments in Subsidiaries and Affiliates
Long-term Loans to Subsidiaries andAffiliates
Long-term Prepaid Expenses
Prepaid Pension Costs
Other Investments

2023

16,290,423- 102 -

14,954,569¥

15,323,184

103,467,602$

107,598,566

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

Mizuho Financial Group, Inc.

Thousands of
U.S. dollars
2024

Millions of yen
As of March 31,
Liabilities
Current Liabilities
Short-term Borrowings
Accounts Payable
Accrued Expenses
Accrued Corporate Taxes
Deposits Received
Unearned Income
Reserve for Bonus Payments
Reserve for Variable Compensation
Current portion of Bonds and Notes Payable

2024

¥

631,000
2,279
76,275
203
1,454
98
1,818
1,057
390,7402023¥

810,000
3,958
46,479
304
1,407
97
692
958
201,788$

4,167,767
15,052503,797
1,340
9,603
647
12,007
6,981
2,580,845

Total Current Liabilities

1,104,927

1,065,686

7,298,064

Non-Current Liabilities
Bonds and Notes
Long-term Borrowings
Deferred Tax Liabilities

8,976,484
200,000
2,502

8,366,936
200,000
3,165

59,289,854
1,321,003
16,525

12,27015,256

11,492
14,77081,043
100,766

9,206,513

8,596,364

60,809,200

Reserve for Employee Retirement Benefits
Other Non-Current Liabilities
Total Non-Current Liabilities
Total Liabilities
Net Assets
Shareholders’ Equity
Common Stock
Capital Surplus
Capital Reserve
Other Capital Surplus¥

10,311,440¥

9,662,050$

68,107,265¥

2,256,767¥

2,256,767$

14,905,990

1,196,659
0

1,196,659–

7,903,956
01,196,660

1,196,659

7,903,963

4,350
2,528,582
2,528,582

4,350
2,210,397
2,210,397

28,731
16,701,334
16,701,334

2,532,932

2,214,747

16,730,066(7,443)
5,978,916(7,080)5,661,094(49,161)
39,490,858

Valuation and Translation Adjustments
Net Unrealized Gains (Losses) on Other
Securities, net of Taxes
Total Valuation and Translation Adjustments

60

33

396

60

33

396

Stock Acquisition Rights

5

5

33

Total Capital Surplus
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Total Retained Earnings
Treasury Stock
Total Shareholders’ Equity

Total Net Assets
Total Liabilities and Net Assets

5,978,982¥

16,290,423- 103 -

5,661,133¥

15,323,184

39,491,294$

107,598,566

(b) Non-Consolidated Statement of Income
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Year ended March 31,
Operating Income
Cash Dividends Received from Subsidiaries andAffiliates
Fee and Commission Income Received from
Subsidiaries and Affiliates
Total Operating Income

2024¥

Operating Expenses
General and Administrative Expenses
Total Operating Expenses

559,3132023¥

271,955$

3,694,273

52,12844,376344,306

611,442

316,331

4,038,586

60,03652,887396,538

60,03652,887396,538

Operating Profits

551,405

263,4443,642,040

Non-Operating Income
Interest on Loans
Other Non-Operating Income

232,272
1,384

177,137
1,543

1,534,161
9,141

Total Non-Operating Income

233,656

178,680

1,543,302

Non-Operating Expenses
Interest Expenses
Interest on Bonds
Bond Issuance Expenses
Other Non-Operating Expenses

2,379
221,411
6,988
2,541

2,242
167,030
6,449
2,662

15,713
1,462,424
46,155
16,783

Total Non-Operating Expenses

233,321

178,385

1,541,089

551,740

263,7393,644,253

–

716

–

–

716

–

Ordinary Profits
Extraordinary Gains
Gains on Disposition of Investments in
Subsidiaries and Affiliates
Total Extraordinary Gains
Extraordinary Losses
Losses on Disposition of Fixed Assets

262

63

1,730

Total Extraordinary Losses

262

63

1,730

Income before Income Taxes

551,478

264,392

3,642,523

(834)
(675)

(3,320)2,071(5,508)(4,458)(1,509)(1,248)(9,966)

Current
Deferred
Total Income Taxes
Net Income¥- 104 -

552,987¥

265,641$

3,652,490

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

Mizuho Bank, Ltd.
(1) Non-Consolidated Financial Statements(a) Non-Consolidated Balance Sheet
Thousands of
U.S. dollars
2024

Millions of yen
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
Derivatives other than for Trading
Other Assets
Tangible Fixed Assets
Intangible Fixed Assets
Prepaid Pension Cost

2024¥

70,442,184
779,066
6,693,619¥$

465,272,021
5,145,746
44,211,486

156,8071,244,722

707,057
7,027,086
505
37,809,325
91,884,028
2,171,460
9,081,601
6,144,905
872,336
404,708
336,001

651,514
5,422,696
504
37,110,218
87,280,378
2,293,584
8,392,051
7,910,755
858,037
352,884
403,530

4,670,125
46,414,042
3,335
249,731,340
606,895,825
14,342,536
59,984,154
40,587,225
5,761,796
2,673,104
2,219,293

185,189382,227

1,223,177

11,745,869

10,003,767

77,581,697(755,930)¥

63,079,031
1,812,740
868,058

188,451

Deferred Tax Assets
Customers’ Liabilities for Acceptances andGuarantees
Reserves for Possible Losses on Loans
Total Assets

2023

245,717,469- 105 -¥

(701,652)(4,992,932)

226,277,135$ 1,622,968,751

2023

Thousands of
U.S. dollars
2024

145,157,919
13,272,253
1,229,224
14,106,366$ 1,019,866,789
74,309,682
6,668,355
146,991,387

38,776

93,216

256,116

1,165,988
5,958,376
14,124,762
1,181,438
641,904
10,309,625
4,596,842
38,758
801
8,645
4,105
9,871
25,125

1,782,111
4,574,447
12,507,802
889,189585,861
8,976,741
6,320,855
26,406757
15,0494,781
12,9807,798

7,701,373
39,355,191
93,294,332
7,803,421
4,239,788
68,095,277
30,362,239
255,997
5,290
57,10027,11365,198
165,951

57,58358,711

380,336

Millions of yen
As of March 31,

2024

Liabilities
Deposits¥
Negotiable Certificates of Deposit
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
Derivatives other than for Trading
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 on Revaluation Reserve forLand
Acceptances and Guarantees
Total Liabilities

154,407,832
11,250,486
1,009,589
22,254,496

11,745,869

10,003,767

77,581,697

238,830,880

219,626,240

1,577,482,694

1,404,065
2,259,392
660,805
1,598,587
2,615,322
524,533
2,090,788
2,090,788

1,404,065
2,259,392
660,805
1,598,587
2,757,032
421,264
2,335,768
2,335,768

9,273,877
14,923,328
4,364,630
10,558,698
17,274,253
3,464,550
13,809,696
13,809,696

6,278,779

6,420,490

41,471,459

791,974

468,873

5,231,003(311,045)
126,879(367,790)
129,321(2,054,458)
838,038

607,808

230,404

4,014,583

Net Assets
Common Stock and Preferred Stock
Capital Surplus
Capital Reserve
Other Capital Surplus
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Total Shareholders’ Equity
Net Unrealized Gains (Losses) on Other
Securities, net of Taxes
Net Deferred Hedge Gains (Losses), net of Taxes
Revaluation Reserve for Land, net of Taxes
Total Valuation and Translation Adjustments
Total Net Assets
Total Liabilities and Net Assets¥

6,886,588¥

245,717,469- 106 -¥

6,650,894

45,486,050

226,277,135$ 1,622,968,751

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

Mizuho Bank, Ltd.
(b) Non-Consolidated Statement of Income

Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,
Ordinary Income
Interest Income
Interest on Loans and Bills Discounted
Interest and Dividends on Securities
Fee and Commission Income
Trading Income
Other Operating Income
Other Ordinary Income
Ordinary Expenses
Interest Expenses
Interest on Deposits
Fee and Commission Expenses
Trading Expenses
Other Operating Expenses
General and Administrative Expenses

2024¥

Other Ordinary Expenses

6,109,353
4,752,437
2,578,759
642,076
661,142
144,357
199,502351,914
5,563,753
3,885,086
1,671,900
216,408717
141,186
825,6492023¥

3,665,159
2,657,640
1,614,231
371,369
589,189
6,350
264,425
147,553
3,105,989
1,786,742
804,311
177,952
361
231,355
742,375$

40,352,397
31,389,940
17,032,754
4,240,924
4,366,856
953,480
1,317,714
2,324,398
36,748,698
25,661,070
11,042,932
1,429,379
4,735
932,536
5,453,428

494,704

167,201

3,267,529

Ordinary Profits

545,600

559,170

3,603,698

Extraordinary Gains
Extraordinary Losses

56,424
13,71448,00319,061

372,681
90,581

Income before Income Taxes

588,309588,1123,885,792

Income Taxes – Current
Income Taxes – Refund of Income Taxes
Income Taxes – Deferred

189,701(3,593)30,004

115,972(9,680)85,6591,252,978(23,731)
198,177

Net Income¥- 107 -

372,197¥

396,161$2,458,368

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

Mizuho Trust & Banking Co., Ltd.
(1) Non-Consolidated Financial Statements(a) Non-Consolidated Balance Sheet
Thousands of
U.S. dollars
2024

Millions of yen
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
Intangible Fixed Assets
Prepaid Pension Cost
Customers’ Liabilities for Acceptances andGuarantees
Reserves for Possible Losses on Loans
Total Assets
Liabilities
Deposits
Negotiable Certificates of Deposit
Call Money
Borrowed Money
Due to Trust Accounts
Other Liabilities
Reserve for Bonus Payments
Reserve for Variable Compensation
Provision for Retirement Benefits
Reserve for Contingencies
Reserve for Reimbursement of Deposits
Deferred Tax Liabilities
Acceptances and Guarantees

2024¥

1,152,249

2023¥

2,704,297$

7,610,627

20,066

20,177

132,536

23,29630,298
293,598
2,868,263
6,220
347,463
91,93920,072
77,76332,261
27,418265,136
3,065,766
5,160
277,573
93,57718,92971,058

153,870
200,118
1,939,220
18,944,933
41,083
2,295,000
607,258
132,575
513,626

14,142

13,65593,408(5,151)(3,601)(34,022)¥

4,940,223¥

6,591,410$

32,630,270¥

2,630,180
264,030
8,046
409,200
983,877
36,860
5,205
271
–
50
506
35,407
14,142¥2,780,028
470,180
907,935
303,400
1,534,097
28,363
3,134
245
2,273
–
714
22,527
13,655$

17,372,391
1,743,923
53,1432,702,774
6,498,527
243,461
34,379
1,789
–
330
3,342
233,863
93,408

Total Liabilities

4,387,778

6,066,558

28,981,360

247,369
15,505
15,505
273,744
166,118
107,626
107,626(79,999)

247,369
15,505
15,505
275,474
159,891
115,583
115,583(79,999)

1,633,877
102,410
102,410
1,808,084
1,097,212
710,871
710,871(528,394)

Total Shareholders’ Equity
Net Unrealized Gains (Losses) on Other Securities,
net of Taxes
Net Deferred Hedge Gains (Losses), net of Taxes

456,619458,349

3,015,977

89,20061,861

589,167

6,624

4,642

43,751

Total Valuation and Translation Adjustments

95,82566,503632,926

Total Net Assets

552,444524,852

3,648,903

Net Assets
Common Stock and Preferred Stock
Capital Surplus
Capital Reserve
Retained Earnings
Appropriated Reserve
Other Retained Earnings
Retained Earnings Brought Forward
Treasury Stock

Total Liabilities and Net Assets¥- 108 -

4,940,223¥

6,591,410$

32,630,270

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

Mizuho Trust & Banking Co., Ltd.
(b) Non-Consolidated Statement of Income
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,
Ordinary Income
Fiduciary Income
Interest Income
Interest on Loans and Bills Discounted
Interest and Dividends on Securities
Fee and Commission Income
Other Operating Income
Other Ordinary Income

2024¥

165,660
61,851
26,10919,0985,299
69,482
1
8,215

2023
¥

162,10259,52726,283
19,376
5,088
68,35013
7,927$

1,094,187
408,527
172,450
126,142
35,000458,929
6
54,260Ordinary Expenses
Interest Expenses
Interest on Deposits
Fee and Commission Expenses
Other Ordinary Expenses
General and Administrative Expenses
Other Ordinary Expenses

126,559
6,801
158
39,333
17
77,4602,946

124,051
6,611
186
37,569189
74,465
5,215

835,924
44,9201,043
259,795
112
511,624
19,458

Ordinary Profits

39,10138,051

258,262

Extraordinary Gains
Extraordinary Losses

2,269
574

5,720
5,762

14,986
3,791

Income before Income Taxes

40,79638,009269,458

Income Taxes – Current
Income Taxes – Deferred

9,574
1,814

10,043995

63,236
11,981Net Income¥- 109 -

29,407¥

26,970$194,233

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

Mizuho Securities Co., Ltd.
(1) Non-Consolidated Financial Statements and Others(a) Non-Consolidated Balance Sheet
Thousands of
U.S. dollars
2024

Millions of yen
As of March 31,
AssetsCurrent Assets
Cash and Bank Deposits
Cash Segregated as Deposits for Customers
and Others
Trading Assets
Trading Securities and Others
Derivatives
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
ResellAdvances Paid
Short-term Guarantee Deposits
Securities: Fail to Deliver
Short-term Loans Receivable
Other Current Assets
Less: Allowance for Doubtful Accounts

2024

¥

Total Current Assets

682,730¥$

4,509,445

462,232

3,485,535

8,062,684
3,067,898
4,994,785
97,135
7,002
26,1886,430,652
2,289,857
4,140,795
90,676
9,611
25,74253,254,187
20,263,527
32,990,653
641,578
46,248172,972

23,934

24,237

158,084

2,254

1,505

14,887

5,272,734

4,722,172

34,826,512

2,171,511

1,741,151

14,342,873

3,101,223

2,981,021

20,483,639

706
679,43848
9,627
101,064
(281)

1,372
470,417
30,155
7,881
93,009(64)

4,663
4,487,701
317
63,586
667,529(1,856)

15,466,789

13,210,463

102,158,447

18,755
4,889
8,290
5,574
47,257
46,773
483
573,247
40,734
401,862

16,992
4,557
6,860
5,574
44,74744,264483
458,184
32,053
315,578

123,877
32,29154,75536,816
312,133
308,936
3,190
3,786,307
269,048
2,654,306

–

9,444

–

12,2294,477
30,566
81,1505,638(3,412)

13,284
6,400
29,25350,017
5,635(3,483)80,772
29,570201,889535,997
37,239(22,536)

Total Noncurrent Assets

639,259¥

866,603527,710

Noncurrent Assets
Property and Equipment
Buildings
Equipment
Land
Intangible Assets
Software
Other Intangible Assets
Investments and Other Assets
Investment Securities
Investments in Subsidiaries and Affiliates
Long-term Loans Receivable to Subsidiaries
and Affiliates
Long-term Guarantee Deposits
Long-term Prepaid Expenses
Prepaid Pension Cost
Deferred Tax Assets
Other
Less: Allowance for Doubtful Accounts
Total Assets

2023

16,106,049- 110 -

519,924¥

13,730,388

4,222,318$

106,380,772

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

Mizuho Securities Co., Ltd.
Thousands of
U.S. dollars
2024

Millions of yen
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 underMargin Transactions
Collateralized Short-term Financing
Agreements – Payable
Deposits Received for Securities Loaned
Securities Sold under Agreements toRepurchase
Deposits Received
Guarantee Deposits Received
Securities: Fail to Receive
Variation Margin Received

2024

¥

6,957,965
2,203,365
4,754,600
121,82031,028
10,1732023¥

5,918,952
2,018,408
3,900,543
36,516
37,624
3,763$

45,957,496
14,553,269
31,404,227
804,623
204,940
67,192

20,85433,860137,741

3,955,035

3,318,666

26,123,084

1,287,886

684,898

8,506,512

2,667,148

2,633,768

17,616,565

446,553
329,556
1,306
4,687

385,028
191,053
1,018
1,052

2,949,491
2,176,723
8,626
30,957

Short-term Borrowings
Commercial Paper
Bonds and Notes due within One Year
Income Taxes Payable
Accrued Employees’ Bonuses
Provision for Variable Compensation
Other Current Liabilities

1,310,285
476,000
93,392
4,699
20,222377
58,386

957,701
436,000
303,842
3,624
15,390401
48,8008,654,458
3,143,989
616,856
31,036
133,566
2,490
385,640

Total Current Liabilities

13,811,318

11,655,671

91,224,029

616,858
365,400

641,254
280,100

4,074,359
2,413,474

444,000

444,000

2,932,628

21,237802

21,790923

140,270
5,297

5,733

–

37,866

3,219

3,895

21,261

1,457,250

1,391,964

9,625,165

3,781

3,352

24,973

Noncurrent Liabilities
Bonds and Notes
Long-term Borrowings
Long-term Borrowings from Subsidiaries andAffiliates
Provision for Retirement Benefits
Provision for Loss on Head Office Transfer
Provision for Loss Related to Entrusted
Business
Other Noncurrent Liabilities
Total Noncurrent Liabilities
Statutory Reserves
Reserve for Financial Instruments Transaction
Liabilities
Total Statutory Reserves
Total Liabilities

3,781
¥

15,272,350- 111 -

3,352¥

13,050,989

24,973$

100,874,174

Thousands of
U.S. dollars
2024

Millions of yen
As of March 31,
Net Assets
Shareholders’ Equity
Common Stock
Capital Surplus
Additional Paid-in Capital
Other Capital Surplus

2024

¥

125,1672023¥

125,167$

826,730

285,831
148,488285,831
121,239

1,887,919
980,766

434,319

407,0712,868,685

455,821394,868

3,010,706

455,821394,868

3,010,706

Treasury Stock(197,768)(257,520)(1,306,261)

Total Shareholders’ Equity

817,539

669,587

5,399,861

25,921

19,610171,208(9,762)(9,798)(64,478)

16,158

9,811

106,723

Total Capital Surpluses
Retained Earnings
Other Retained Earnings
Retained Earnings Brought Forward
Total Retained Earnings

Valuation and Translation Adjustments
Net Unrealized Gains on (Operating)
Investment Securities, Net of Tax, etc.
Net Deferred Gains or Losses on Hedges, Net
of TaxTotal Valuation and Translation Adjustments
Total Net Assets
Total Liabilities and Net Assets

833,698¥

16,106,049- 112 -

679,398¥

13,730,388

5,506,591$

106,380,772

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

Mizuho Securities Co., Ltd.
(b) Non-Consolidated Statement of Income
Thousands of
U.S. dollars
2024

Millions of yen
For the Fiscal Years ended March 31,
Operating Revenues
Commissions
Brokerage Commissions
Underwriting and Selling Fees, andCommissions from Solicitation to Qualifying
Investors
Offering, Selling, and Other Commissions andFees, and Commissions from Solicitation to
Qualifying Investors
Other Commissions and Fees
Net Gain on Trading
Net Gain (Loss) on Operating Investment
Securities
Interest and Dividend Income

2024¥

173,149
31,7792023¥

143,118
23,788$1,143,652
209,900

36,602

26,684

241,756

22,77923,066

150,455

81,989100,087

69,57890,648541,538
661,076

5,860

1,204

38,705

165,084

137,406

1,090,383

444,181372,379

2,933,824

Interest Expenses

155,665

120,444

1,028,170

Net Operating Revenues

288,516

251,934

1,905,653

Selling, General and Administrative Expenses

245,461

230,326

1,621,274

47,95391,247
31,62049,424
15,251
6,708
291
2,965

52,59083,73527,55841,437
16,599
5,586
53
2,764

316,730
602,688
208,850
326,446
100,733
44,306
1,922
19,583Operating Income

43,054

21,608284,372

Non-operating Income
Non-operating Expenses

1,404
2,154

2,952
227

9,273
14,227

Ordinary Income

42,30424,333

279,418

Extraordinary Gain
Gain on Sales of Noncurrent Assets
Gain on Sales of Investment Securities
Gain on Sales of Shares of Subsidiaries andAffiliates
Gain on Liquidation of Subsidiaries and Affiliates
Gain on Exchange from Dividends in Kind
Other
Extraordinary Loss
Loss on Disposal of Noncurrent Assets
Loss on Sales of Investment Securities
Loss on Impairment of Investment Securities
Impairment Losses
Extra Retirement Payments
Head Office Transfer Cost
Loss on Cancellation of System Agreement
Loss Related to System Migration
Provision of Allowance for Loss on Head OfficeTransfer
Provision of Allowance for Loss Related to
Entrusted Business

1,139
–
681

19,300
1,004
8,218

7,523
–
4,498

71

–

468

386
–
–
13,475
1,594
23
–
181
147
2,171
293
–

–
9,890
185
44,026
522
107
8,830
22,056
211
2,661
–
9,191

2,549
–
–
89,002
10,528
151
–
1,195
970
14,339
1,935
–

730

219

4,821

5,733

–

37,866

Total Operating Revenues

Transaction-related Expenses
Personnel Expenses
Real Estate Expenses
Administrative Expenses
Depreciation and Amortization
Taxes and Dues
Provision of Allowance for Doubtful Accounts
Other- 113 -

2024

2023

Thousands of
U.S. dollars
2024

1,489

–

9,834

429

220

2,833

Millions of yen
For the Fiscal Years ended March 31,
Loss on Transfer of Pension Assets
Provision of Reserve for Financial Instruments
Transaction Liabilities
Other

681

5

4,498

Income before Income Taxes

29,968(393)

197,939

Income Taxes – Current
Income Taxes – Deferred

2,965(33,950)

3,737(28,428)

19,583(224,240)

Total Income Taxes(30,984)(24,690)(204,649)

Net Income¥- 114 -

60,952¥

24,297$

402,589