錯誤2024-09-302025Q20001335730--03-31Http://fasb.org/us-gaap/2024#InterestExpenseDepositsHttp://fasb.org/us-gaap/2024#InterestExpenseDepositsHttp://fasb.org/us-gaap/2024#AccruedInvestmentIncomeReceivableHttp://fasb.org/us-gaap/2024#AccruedInvestmentIncomeReceivableHttp://fasb.org/us-gaap/2024#InvestmentIncomeInterestHttp://fasb.org/us-gaap/2024#InvestmentIncomeInterest已從累計其他綜合收益(虧損)中重新分類爲稅後淨額的金額列於附註8「累計其他綜合收益(虧損)稅後淨額」。現金和現金等價物包括現金和銀行到期存款以及其他銀行的有息存款。爲滿足最低監管要求，存放在央行的現金被歸類爲受限現金，並計入現金和現金等價物。攤銷成本，扣除信貸損失準備，其中與可供出售證券相關的金額在2024年3月31日和2024年9月30日均爲零。這一系列的機構抵押貸款支持證券包括日本和外國機構抵押貸款支持證券，其中公允價值在2024年3月31日分別爲人民幣47694700萬和人民幣2,600萬，於2024年9月30日分別爲人民幣46854600萬和人民幣2,300萬。所有日本機構抵押貸款支持證券都是由日本政府支持的企業日本住房金融廳發行的。外國機構抵押貸款支持證券主要由美國政府擔保的政府全國抵押貸款協會(「Ginnie Mae」)證券組成。截至2024年3月31日的應收利息1570800元萬和截至2024年9月30日的1615000元萬的應計利息不計入攤銷成本，計入應計收益。這一系列的其他債務證券主要包括境外可轉讓存單和資產支持證券，其中截至2024年3月31日的公允價值總額爲20995600元萬，截至2024年9月30日的公允價值總額爲23961400元萬。這一系列中提供的所有機構抵押貸款支持證券都是吉尼·梅的證券。在全部外資中，大部分是法人。其他主要包括外匯翻譯。截至2024年3月31日，MHFG集團包括被歸類爲持有以供出售的房地和設備。擔保信託本金包括於所附資產負債表中有關綜合VIE的披露中的所有其他負債中，爲符合MHFG集團爲本金的償還提供擔保的VIE定義的若干綜合信託安排的負債。關於擔保本金貨幣信託的進一步討論，見附註15「可變利息實體和證券化」。這一系列的機構抵押貸款支持證券包括日本機構抵押貸款支持證券，其中公允價值在2024年3月31日爲43855600元萬，在2024年9月30日爲45139700元萬。所有日本機構抵押貸款支持證券都是由日本政府支持的企業日本住房金融廳發行的。名義金額包括總長期合同和總短期第三方合同的總和。衍生品應收賬款和應付款項分別計入交易賬戶資產和交易賬戶負債。金額是指該期間在收益和其他全面收益(虧損)中確認的總收益或虧損。這些收益或虧損是由於與分類爲3級的資產和負債有關的公允價值變化，這些資產和負債在2023年和2024年9月30日仍然持有。其他綜合收益(虧損)中的未實現收益(虧損)金額與可供出售證券和長期債務有關，2023年9月30日分別爲人民幣120億元億和人民幣(140億)元，2024年9月30日分別爲人民幣(20億)億元和人民幣30億。3級衍生品風險敞口總額已計入表內，僅供列報之用。收益的收益(虧損)在其他非利息收入(費用)中報告。保險業的收益(虧損)在其他綜合收益(虧損)中列報。出售股權證券以及購買股權證券的收益包括與其他投資有關的現金活動，金額不大。上述在2024年3月31日和2024年9月30日的要求和實際金額不包括日本銀行的存款金額。MHBk外國分行及功能貨幣爲日元以外的外國子公司的收入和支出已按預算外幣匯率在分部報告中進行折算。此類外幣收入和支出的上期可比金額已使用本期預算外幣匯率折算。「其他」包括下列項目：·與不受分配限制的合併子公司有關的利潤和費用；·合併調整，包括消除各部門之間的內部交易；·權益法被投資人的收益(虧損)中的權益--不受分配限制的淨額；以及·與衍生品交易有關的損益，反映了個別當事人的交易對手風險和確定公平市場價值的其他因素。淨業務利潤(虧損)在日本被用來衡量核心銀行業務的盈利能力，其定義爲毛利潤(如上所定義)減去一般和行政費用(不包括未分配的收益(虧損)，淨額)加上權益法投資的收益(虧損)中的股本-淨額減去商譽和其他攤銷。向日本金融廳提交監管報告時，需要對淨業務利潤(虧損)進行衡量。「固定資產」是根據日本公認會計原則列報的，與下列美國公認會計原則賬戶的總額相對應：房舍和設備淨額；商譽；無形資產；以及與包括在其他資產中的經營租賃有關的使用權資產。上表不包括其他資產數額，因爲「固定資產」是管理層在評估和作出與經營部門有關的決策時唯一使用的資產負債表指標。「固定資產」中的「其他」包括尚未分配給每個部門的總部資產、屬於不受分配、合併調整和其他影響的合併子公司的「固定資產」。某些「固定資產」費用已使用合理的分配標準分配給每個部門。「一般和行政費用」不包括未分配的收益(損失)、淨額。美國GAAP調整主要由以下因素構成：GAAP差額主要來自與未根據日本GAAP確認的經營租賃有關的使用權資產；內部開發的軟體(根據日本GAAP減值)；LAND(根據日本GAAP重估價值)；以及合併某些未根據日本GAAP確認的可變權益實體。上述於2024年3月31日及2024年9月30日的要求比率包括槓桿率緩衝，根據最終的《巴塞爾協議III》改革，槓桿率緩衝須達到適用於本集團作爲G-SIB的額外虧損吸收要求的50%。零售投資組合部分的主要組成部分是向個人提供的住房貸款，根據逾期狀況對債務人類別進行分類。將債務人從正常債務人重新歸類爲不包括特殊注意義務的債務人的觸發因素是逾期狀態超過30天。在截至2024年3月31日的財年和截至2024年9月30日的6個月期間，沒有重大的循環信貸額度安排轉換爲定期貸款。涉外公司包括於2024年3月31日及2024年9月30日分別爲直接融資租賃應收賬款的人民幣1,760億及人民幣1,680億。貸款修訂的財務影響主要是延長貸款年期和降低利率，包括把貸款的加權平均年期延長7.0個月和7.1個月，以及把截至2023年9月30日和2024年9月30日止的6個月的加權平均合約利率分別下調1.2%和1.4%。在2023年9月30日和2024年9月30日，向財務困難的借款人提供貸款的承諾並不重要。貸款信貸損失撥備是基於對宏觀經濟敏感的模型，這些模型依賴歷史業績和宏觀經濟情景來預測預期的信貸損失。貸款的修改會影響違約的可能性，從而影響預期的信貸損失。金額代表本集團選擇公允價值選擇或其適用可行例外情況的項目。金額涉及本集團在證券借貸協議中擔任貸款人並收取可出售或質押作爲抵押品的證券的交易。在該等交易中，本集團確認在其他資產內按公允價值收取的證券，以及作爲其他負債內的負債歸還該等證券的責任。與主要淨額結算安排或類似協議有關的金額不包括在MHFG集團沒有法律抵銷權或這些協議的可執行性存在不確定性的情況下。就衍生工具而言，該表包括受可強制執行的總淨額結算安排或類似協議約束的場外交易(「場外」)及場外結算衍生工具的相關金額。衍生工具資產和負債分別計入交易賬戶資產和交易賬戶負債。金額不超過資產負債表上列報的淨額，也不包括過度抵押的影響(如果存在)。就衍生工具而言，金額包括根據可強制執行的總淨額結算安排或類似協議有資格抵銷的衍生資產或負債及證券抵押品。在合併損益表中報告稅前金額的財務錶行項目列在表的右側。在合併損益表中列報稅項影響金額和非控制權益應占稅額淨額的財務報表行項目分別爲所得稅費用和淨收益。上述在2024年3月31日和2024年9月30日的要求比率包括2.5%的資本保護緩衝、0.09%和0.12%的逆週期資本緩衝，以及對全球系統重要性銀行(G-SIB)和國內系統重要性銀行(D-SIB)的額外損失吸收能力要求1.00%，這些都是監管最低要求之外的要求。通過將比率應用於風險加權資產的總和來確定各自的所需金額。報告的是與ETF和其他相關的毛利潤+淨收益(虧損)，而不是一般公司報告的銷售額。毛利被定義爲淨利息收入、受託收入、淨手續費和佣金收入、淨交易收入和淨其他營業收入的總和。與ETF及其他有關的淨收益(虧損)包括MHBk及MHTB在非綜合基礎上持有的ETF的淨收益(虧損)，以及MHSC在綜合基礎上營運投資證券的淨收益(虧損)。截至2023年和2024年9月30日的6個月，與ETF和其他相關的淨收益(虧損)分別爲人民幣183元億和人民幣408億，其中人民幣172元億和人民幣372元億分別計入GMC。這些金額是來自不符合ASC 606範圍的合同的收入。這些數額中的一部分被認爲是來自ASC 606範圍內合同的收入。這些金額包括因含有嵌入衍生工具的結構性票據的公允價值變化而產生的未實現淨收益。詳情見附註17「公允價值」。交易證券包括MHFG集團選擇公允價值期權的外幣計價證券。金額包括CLO和可轉債，這兩種債券被歸類爲3級。根據ASC 820，按每股資產淨值(或其等值)實際權宜以公允價值計量的某些投資並未歸類於公允價值層次。爲這些資產類別列報的公允價值金額旨在使公允價值層次與財務狀況表中列報的金額相一致。截至2024年3月31日和2024年9月30日，與這些投資相關的無資金承諾金額分別爲人民幣410億和人民幣440億。於二零二四年三月三十一日，受可執行行業標準總借貸協議及淨額條款約束的證券借貸交易項下應收款項及證券借貸交易項下應付款項分別爲人民幣23520億及人民幣13030億，及於二零二四年九月三十日分別爲人民幣21740億及人民幣13600億。回購協議項下的應收賬款及回購協議項下的應收賬款分別於二零二四年三月三十一日爲人民幣194700億及人民幣370420億，於二零二四年九月三十日則分別爲人民幣214100億及人民幣368530億。截至2024年3月31日，受可執行的主淨額結算安排或類似協議約束的衍生品資產和負債金額分別爲人民幣139300億和人民幣139330億，於2024年9月30日分別爲人民幣137490億和人民幣139140億。扣除撥備後的貸款包括在非經常性基礎上按公允價值計量的項目。收益的收益(損失)在交易賬戶收益(損失)-淨匯兌收益(損失)-淨或其他非利息收入(費用)中報告。平均數的計算方法是按各金融工具的相對公允價值加權每項投入，但與衍生工具有關的投入如使用中位數，則不在此列。這些投入主要用於確定除RMBS和CMBS以外的CDO、CLO和ABS等證券化產品的公允價值。這一投入主要用於確定日本公司債券和外國公司債券的公允價值。內部估值模型包括現金流貼現模型和布萊克-斯科爾斯期權定價模型。收益的收益(虧損)在投資收益(虧損)-淨額中報告。承諾費和安排費等大部分貸款相關費用不在ASC 606的範圍內。這些數額是ASC 606「與客戶的合同收入」(「ASC 606」)範圍內的合同收入。金額代表非應計貸款的未償還餘額。MHFG集團將貸款置於非權責發生制狀態的政策與集團對非權責發生制貸款的定義一致。金額爲按現金基礎確認並計入合併損益表中貸款利息收入的非應計貸款利息收入。 0001335730 2024-03-31 0001335730 2024-09-30 0001335730 2024-04-01 2024-09-30 0001335730 2023-04-01 2023-09-30 0001335730 2023-04-01 2024-03-31 0001335730 2023-09-30 0001335730 2023-03-31 0001335730 MFG：ClassFourteen PferredStockMember 2024-03-31 0001335730 MFG：ClassSixteans首選股票成員 2024-03-31 0001335730 MFG：Class15首選股票成員 2024-03-31 0001335730 美國公認會計准則：成熟期超過90天成員 2024-03-31 0001335730 MFG：成熟的Overnight和開放的成員 2024-03-31 0001335730 美國公認會計准則：到期至30天成員 2024-03-31 0001335730 製造商：成熟期31至90天成員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 Mfg:AvailableForSaleAndTradingSecuritiesMember Us-gaap:ResidentialMortgageBackedSecuritiesMember 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 2024-03-31 0001335730 收件箱：過期期一年後五年會員 2024-03-31 0001335730 收件箱：五年後到期會員 2024-03-31 0001335730 收件箱：過期PeriodOneYearOrLessMember 2024-03-31 0001335730 us-gaap：MortgageBackedSecurities Member us-gaap：債務證券成員 收件箱：國內政府贊助企業債務證券會員 2024-03-31 0001335730 收件箱：瑞穗金融集團有限公司成員 2024-03-31 0001335730 us-gaap：GuaranteTypeguarden成員 2024-03-31 0001335730 警告：擔保還款OfTrustPrincipalMember 2024-03-31 0001335730 us-gaap：MarketValueGuarantee Member 2024-03-31 0001335730 us-gaap：付款保證會員 2024-03-31 0001335730 收件箱：擔保OnTrustAccountsMember 2024-03-31 0001335730 美國公認會計准則：財務擔保成員 2024-03-31 0001335730 us-gaap：績效保證會員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：國內債務證券會員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：國家債券成員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：USTR保證和政府短期債務證券成員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：外國政府債券會員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：外國公司債務證券成員 2024-03-31 0001335730 us-gaap：債務證券成員 收件箱：外國抵押貸款支持證券會員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：債務證券成員 收件箱：國內政府贊助企業債務證券會員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：債務證券成員 收件箱：存款的可轉讓證書資產備份證券和抵押貸款債務成員 2024-03-31 0001335730 us-gaap：MortgageBackedSecurities Member us-gaap：債務證券成員 2024-03-31 0001335730 收件箱：外國政府債券會員 us-gaap：債務證券成員 2024-03-31 0001335730 us-gaap：USTR保證和政府短期債務證券成員 us-gaap：債務證券成員 2024-03-31 0001335730 us-gaap：國家債券成員 us-gaap：債務證券成員 2024-03-31 0001335730 收件箱：政府債券會員 us-gaap：債務證券成員 2024-03-31 0001335730 us-gaap：外國公司債務證券成員 us-gaap：債務證券成員 2024-03-31 0001335730 收件箱：國內債務證券會員 us-gaap：債務證券成員 2024-03-31 0001335730 us-gaap：商業抵押貸款支持證券成員 us-gaap：債務證券成員 2024-03-31 0001335730 us-gaap：住宅抵押貸款支持證券成員 us-gaap：債務證券成員 2024-03-31 0001335730 收件箱：受損財務收款無相關津貼成員 2024-03-31 0001335730 收件箱：有市場股票證券會員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember 2024-03-31 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 2024-03-31 0001335730 us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：地理分佈外國成員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 2024-03-31 0001335730 us-gaap：部分轉讓ThanFairValueFairValueDisclosureMember us-gaap：公平價值衡量非復發成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值衡量非復發成員 2024-03-31 0001335730 us-gaap：公平價值衡量非復發成員 2024-03-31 0001335730 收件箱：日本Gaap未合併會員會員 收件箱：Mizuho TrustBankingCompany Limited會員 2024-03-31 0001335730 收件箱：日本Gaap合併會員 收件箱：瑞穗銀行有限公司會員 2024-03-31 0001335730 收件箱：日本Gaap合併會員 收件箱：Mizuho TrustBankingCompany Limited會員 2024-03-31 0001335730 收件箱：日本Gaap未合併會員會員 收件箱：瑞穗銀行有限公司會員 2024-03-31 0001335730 收件箱：日本Gaap合併會員 收件箱：瑞穗金融集團有限公司成員 2024-03-31 0001335730 收件箱：CreditRiskContractMember 2024-03-31 0001335730 收件箱：CreditRiskContractCustasedMember 2024-03-31 0001335730 收件箱：CreditRiskContractMember us-gaap：外部信貸評級投資等級成員 2024-03-31 0001335730 收件箱：CreditRiskContractMember us-gaap：外部信用評級非投資等級成員 2024-03-31 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 us-gaap：RiskLevelLowMember 2024-03-31 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 2024-03-31 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 us-gaap：RiskLevelHighMember 2024-03-31 0001335730 us-gaap：未使用LinesOfCreditMember 2024-03-31 0001335730 us-gaap：承諾ToExtendCreditMember 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值衡量非復發成員 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：瑞穗金融集團有限公司成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 Mfg:AvailableForSaleAndTradingSecuritiesMember us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 Mfg:AvailableForSaleAndTradingSecuritiesMember us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 Mfg:AvailableForSaleAndTradingSecuritiesMember us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 Mfg:AvailableForSaleAndTradingSecuritiesMember us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入EquityFX CorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXFXFXCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入EquityFX CorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入EquityFX CorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXFXFXCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXFXFXCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 2024-03-31 0001335730 srt：加權平均成員 2024-03-31 0001335730 srt：MaximumMember 2024-03-31 0001335730 srt：MinimumMember 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：TrustAccountsMember 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember us-gaap：證券投資會員 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：資產備份安全會員 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：投資證券化產品會員 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember us-gaap：證券投資會員 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：投資證券化產品會員 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：TrustAccountsMember 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 2024-03-31 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember us-gaap：資產支持證券化貸款和收款成員 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember us-gaap：資產支持證券化貸款和收款成員 2024-03-31 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：資產備份安全會員 2024-03-31 0001335730 us-gaap：承載報告金額公平價值披露成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-03-31 0001335730 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXFXFXCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXFXFXCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXFXFXCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-03-31 0001335730 收件箱：收件箱證券會員 2024-03-31 0001335730 收件箱：日本政府債券地方政府債券會員 2024-03-31 0001335730 收件箱：外國政府債券和外國抵押貸款支持證券成員 2024-03-31 0001335730 收件箱：商業紙張和企業債券會員 2024-03-31 0001335730 收件箱：股票證券不安全借款成員 2024-03-31 0001335730 us-gaap：高級債務義務成員 2024-03-31 0001335730 收件箱：TrustAccountsMember 2024-03-31 0001335730 us-gaap：證券投資會員 2024-03-31 0001335730 收件箱：資產備份安全會員 2024-03-31 0001335730 收件箱：投資證券化產品會員 2024-03-31 0001335730 us-gaap：資產支持證券化貸款和收款成員 2024-03-31 0001335730 us-gaap：EquityContractMember 2024-03-31 0001335730 us-gaap：CreditRiskContractMember 2024-03-31 0001335730 us-gaap：RST ContractMember 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember 2024-03-31 0001335730 us-gaap：外國交易所合同成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：RST ContractMember us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：非指定成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 收件箱：DepositAndCommercialPaper證書會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：DepositAndCommercialPaper證書會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：CreditRiskContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：RST ContractMember us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：外國交易所合同成員 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-03-31 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-03-31 0001335730 收件箱：國內債務證券會員 2024-03-31 0001335730 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2024-03-31 0001335730 us-gaap：應計收入應收賬款成員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 收件箱：非應計貸款會員 2024-03-31 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：零售評級會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-03-31 0001335730 收件箱：融資收款未受損會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-03-31 0001335730 收件箱：SubjectToEnforceableMasterNettingArragementMember 2024-03-31 0001335730 收件箱：NetOfaylanceForCreditLossMember 2024-03-31 0001335730 us-gaap：應計收入應收賬款成員 收件箱：適用於銷售和HeldToMaturitySecurities成員 2024-03-31 0001335730 收件箱：融資收款受損會員 2024-03-31 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 2024-03-31 0001335730 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：當前會員 2024-03-31 0001335730 收件箱：TotalMember 2024-03-31 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈外國成員 2024-03-31 0001335730 us-gaap：地理分佈外國成員 收件箱：TotalPastDueMember 2024-03-31 0001335730 us-gaap：地理分佈外國成員 收件箱：當前會員 2024-03-31 0001335730 us-gaap：地理分佈外國成員 收件箱：TotalMember 2024-03-31 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember 2024-03-31 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember 2024-03-31 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈外國成員 2024-03-31 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈外國成員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：ClassteenFourseredStockMember 2024-09-30 0001335730 收件箱：ClassteenSixredStockMember 2024-09-30 0001335730 收件箱：ClassFifteen收件箱RedStockMember 2024-09-30 0001335730 收件箱：MaturityOvernightAndOpenMember 2024-09-30 0001335730 us-gaap：成熟到30天會員 2024-09-30 0001335730 收件箱：成熟度31至90天會員 2024-09-30 0001335730 us-gaap：MaturityOver 90天會員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 收件箱：過期期一年後五年會員 2024-09-30 0001335730 收件箱：五年後到期會員 2024-09-30 0001335730 收件箱：過期PeriodOneYearOrLessMember 2024-09-30 0001335730 us-gaap：MortgageBackedSecurities Member us-gaap：債務證券成員 收件箱：國內政府贊助企業債務證券會員 2024-09-30 0001335730 收件箱：瑞穗金融集團有限公司成員 2024-09-30 0001335730 us-gaap：MarketValueGuarantee Member 2024-09-30 0001335730 us-gaap：績效保證會員 2024-09-30 0001335730 收件箱：擔保OnTrustAccountsMember 2024-09-30 0001335730 警告：擔保還款OfTrustPrincipalMember 2024-09-30 0001335730 us-gaap：GuaranteTypeguarden成員 2024-09-30 0001335730 美國公認會計准則：財務擔保成員 2024-09-30 0001335730 us-gaap：付款保證會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：國內債務證券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：外國公司債務證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：可供出售證券成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：國內政府贊助企業債務證券會員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：存款的可轉讓證書資產備份證券和抵押貸款債務成員 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：外國抵押貸款支持證券會員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 收件箱：外國政府債券會員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：住宅抵押貸款支持證券成員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：商業抵押貸款支持證券成員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：外國公司債務證券成員 us-gaap：債務證券成員 2024-09-30 0001335730 收件箱：國內債務證券會員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：國家債券成員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：USTR保證和政府短期債務證券成員 us-gaap：債務證券成員 2024-09-30 0001335730 收件箱：政府債券會員 us-gaap：債務證券成員 2024-09-30 0001335730 us-gaap：MortgageBackedSecurities Member us-gaap：債務證券成員 2024-09-30 0001335730 收件箱：受損財務收款無相關津貼成員 2024-09-30 0001335730 收件箱：有市場股票證券會員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember 2024-09-30 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 2024-09-30 0001335730 us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：地理分佈外國成員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 2024-09-30 0001335730 us-gaap：部分轉讓ThanFairValueFairValueDisclosureMember us-gaap：公平價值衡量非復發成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值衡量非復發成員 2024-09-30 0001335730 us-gaap：公平價值衡量非復發成員 2024-09-30 0001335730 收件箱：日本Gaap合併會員 收件箱：Mizuho TrustBankingCompany Limited會員 2024-09-30 0001335730 收件箱：日本Gaap合併會員 收件箱：瑞穗銀行有限公司會員 2024-09-30 0001335730 收件箱：日本Gaap未合併會員會員 收件箱：Mizuho TrustBankingCompany Limited會員 2024-09-30 0001335730 收件箱：日本Gaap未合併會員會員 收件箱：瑞穗銀行有限公司會員 2024-09-30 0001335730 收件箱：日本Gaap合併會員 收件箱：瑞穗金融集團有限公司成員 2024-09-30 0001335730 收件箱：CreditRiskContractMember us-gaap：外部信用評級非投資等級成員 2024-09-30 0001335730 收件箱：CreditRiskContractMember 2024-09-30 0001335730 收件箱：CreditRiskContractCustasedMember 2024-09-30 0001335730 收件箱：CreditRiskContractMember us-gaap：外部信貸評級投資等級成員 2024-09-30 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 2024-09-30 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 us-gaap：RiskLevelHighMember 2024-09-30 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 us-gaap：RiskLevelLowMember 2024-09-30 0001335730 us-gaap：未使用LinesOfCreditMember 2024-09-30 0001335730 us-gaap：承諾ToExtendCreditMember 2024-09-30 0001335730 收件箱：KisetsuSaisonFinance印度私人有限公司會員 2024-09-30 0001335730 收件箱：Rakerty Securities IncMember 2024-09-30 0001335730 收件箱：MatthewInternationalCapitalManagement LlcMember 2024-09-30 0001335730 收件箱：瑞穗租賃有限公司會員 2024-09-30 0001335730 收件人：JointStock CommercialBank ForeignTrade OfVietnamMember 2024-09-30 0001335730 收件箱：Orico會員 2024-09-30 0001335730 收件人：TrustedyBankOfJapanLtd成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值衡量非復發成員 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：瑞穗金融集團有限公司成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入折扣率1成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember 收件箱：測量輸入Recovery RateMember srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：商業抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：Allendix CorporateBondsMember us-gaap：衡量輸入預付費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 收件箱：測量輸入Recovery RateMember srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：測量輸入折扣率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：MinimumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：MaximumMember 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 收件箱：適用於銷售和交易證券會員 us-gaap：住宅抵押貸款支持證券成員 us-gaap：衡量輸入預付費率成員 srt：加權平均成員 收件箱：折扣現金流量估值技術成員 2024-09-30 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：DerivativeMember 警告：警告合同成員 警告：衡量投入波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入股票波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：DerivativeMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：DerivativeMember 收件箱：測量輸入FXIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：DerivativeMember 收件箱：測量輸入公平IRCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：DerivativeMember 收件箱：測量輸入IRIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：HeldtomaturitySecurities成員 2024-09-30 0001335730 srt：加權平均成員 2024-09-30 0001335730 srt：MaximumMember 2024-09-30 0001335730 srt：MinimumMember 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember us-gaap：證券投資會員 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember us-gaap：證券投資會員 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：TrustAccountsMember 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：TrustAccountsMember 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：資產備份安全會員 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：投資證券化產品會員 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 收件箱：投資證券化產品會員 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember us-gaap：資產支持證券化貸款和收款成員 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember us-gaap：資產支持證券化貸款和收款成員 2024-09-30 0001335730 us-gaap：VariableDeliverty PrimaryBeneficiaryMember 收件箱：資產備份安全會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-09-30 0001335730 us-gaap：承載報告金額公平價值披露成員 2024-09-30 0001335730 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：EstimateOfFairValueFairValueDisclosureMember 2024-09-30 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember us-gaap：測量輸入默認費率成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入股票波動性成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入公平IRCorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入EquityFX CorrelationMember srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入IRIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：MinimumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：MaximumMember 收件箱：InternalValuationModel Member 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 收件箱：測量輸入FXIR相關成員 srt：加權平均成員 收件箱：InternalValuationModel Member 2024-09-30 0001335730 收件箱：日本政府債券地方政府債券會員 2024-09-30 0001335730 收件箱：股票證券不安全借款成員 2024-09-30 0001335730 收件箱：收件箱證券會員 2024-09-30 0001335730 收件箱：商業紙張和企業債券會員 2024-09-30 0001335730 收件箱：外國政府債券和外國抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：高級債務義務成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值衡量非復發成員 2024-09-30 0001335730 收件箱：TrustAccountsMember 2024-09-30 0001335730 us-gaap：資產支持證券化貸款和收款成員 2024-09-30 0001335730 收件箱：資產備份安全會員 2024-09-30 0001335730 收件箱：投資證券化產品會員 2024-09-30 0001335730 us-gaap：證券投資會員 2024-09-30 0001335730 us-gaap：EquityContractMember 2024-09-30 0001335730 us-gaap：CreditRiskContractMember 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember 2024-09-30 0001335730 us-gaap：外國交易所合同成員 2024-09-30 0001335730 us-gaap：RST ContractMember 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：非指定成員 2024-09-30 0001335730 us-gaap：指定爲對沖工具成員 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 收件箱：國內債務證券會員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：外國公司債務證券成員 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：債務證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：Deposit和CommercialPaper會員證書 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 收件箱：DepositAndCommercialPaper證書會員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：DepositAndCommercialPaper證書會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：Deposit和CommercialPaper會員證書 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：股票證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：國家債券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：USTR保證和政府短期債務證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：外國政府債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：MortgageBackedSecurities Member 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：RST ContractMember us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：EquityContractMember us-gaap：公平價值測量回歸成員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 3成員 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 2成員 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：日本企業債券會員 2024-09-30 0001335730 us-gaap：FairValueInputsLevel 1成員 us-gaap：公平價值測量回歸成員 收件箱：非日本企業債券會員 2024-09-30 0001335730 收件箱：國內債務證券會員 2024-09-30 0001335730 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2024-09-30 0001335730 us-gaap：應計收入應收賬款成員 2024-09-30 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-09-30 0001335730 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：融資收款未受損會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-09-30 0001335730 收件箱：CorporateRating會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 收件箱：非應計貸款會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：PassMember 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：融資收款未受損會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：融資收款未受損會員 us-gaap：地理分佈外國成員 收件箱：非應計貸款會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：SpecialMentionMember 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：非應計貸款會員 2024-09-30 0001335730 收件箱：SubjectToEnforceableMasterNettingArragementMember 2024-09-30 0001335730 收件箱：NetOfaylanceForCreditLossMember 2024-09-30 0001335730 us-gaap：應計收入應收賬款成員 收件箱：適用於銷售和HeldToMaturitySecurities成員 2024-09-30 0001335730 收件箱：融資收款受損會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 2024-09-30 0001335730 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：當前會員 2024-09-30 0001335730 收件箱：TotalMember 2024-09-30 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈外國成員 2024-09-30 0001335730 us-gaap：地理分佈外國成員 收件箱：TotalPastDueMember 2024-09-30 0001335730 us-gaap：地理分佈外國成員 收件箱：當前會員 2024-09-30 0001335730 us-gaap：地理分佈外國成員 收件箱：TotalMember 2024-09-30 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember 2024-09-30 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember 2024-09-30 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈外國成員 2024-09-30 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈外國成員 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：銀行和金融機構成員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalPastDueMember 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：當前會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：TotalMember 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：SoverignMember 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈外國成員 2024-09-30 0001335730 us-gaap：財務資產過去DueMember us-gaap：地理分佈外國成員 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：財務資產NotPastDueMember 2024-09-30 0001335730 us-gaap：財務資產過去DueMember 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：金融服務員會員 2023-04-01 2023-09-30 0001335730 收件人：擔保相關商業會員 2023-04-01 2023-09-30 0001335730 us-gaap：投資顧問管理和行政服務成員 2023-04-01 2023-09-30 0001335730 us-gaap：FiduciaryAndTrustMember 2023-04-01 2023-09-30 0001335730 收件箱：DelivercyBusinessMember 2023-04-01 2023-09-30 0001335730 收件箱：存款相關商業會員 2023-04-01 2023-09-30 0001335730 收件箱：證券相關商業會員 2023-04-01 2023-09-30 0001335730 收件箱：LendingRelated BusinessMember 2023-04-01 2023-09-30 0001335730 收件箱：匯款商業會員 2023-04-01 2023-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：貸款會員 2023-04-01 2023-09-30 0001335730 us-gaap：ForeignExchange會員 2023-04-01 2023-09-30 0001335730 us-gaap：LongTerm DebtMember 2023-04-01 2023-09-30 0001335730 美國公認會計准則：交易所貿易基金成員 2023-04-01 2023-09-30 0001335730 收件箱：全球市場公司會員 美國公認會計准則：交易所貿易基金成員 2023-04-01 2023-09-30 0001335730 收件箱：交易賬戶GainsMember 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 2023-04-01 2023-09-30 0001335730 收件箱：交易證券會員 2023-04-01 2023-09-30 0001335730 us-gaap：債務證券成員 2023-04-01 2023-09-30 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 2023-04-01 2023-09-30 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 us-gaap：CreditRiskContractMember 2023-04-01 2023-09-30 0001335730 us-gaap：RST ContractMember 2023-04-01 2023-09-30 0001335730 us-gaap：EquityContractMember 2023-04-01 2023-09-30 0001335730 us-gaap：SEARCH RateContractMember 2023-04-01 2023-09-30 0001335730 us-gaap：外國交易所合同成員 2023-04-01 2023-09-30 0001335730 us-gaap：股票證券成員 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2023-04-01 2023-09-30 0001335730 us-gaap：高級債務義務成員 2023-04-01 2023-09-30 0001335730 us-gaap：運營部門成員 收件箱：資產管理公司成員 2023-04-01 2023-09-30 0001335730 us-gaap：IntersegmentElimationMember 2023-04-01 2023-09-30 0001335730 us-gaap：運營部門成員 收件箱：零售和商業銀行公司成員 2023-04-01 2023-09-30 0001335730 us-gaap：運營部門成員 收件人：CorporateAndInstitutionalCompany成員 2023-04-01 2023-09-30 0001335730 us-gaap：運營部門成員 收件箱：GlobalCorporateCompany會員 2023-04-01 2023-09-30 0001335730 us-gaap：運營部門成員 收件箱：全球市場公司會員 2023-04-01 2023-09-30 0001335730 us-gaap：Property PlantAndEquipmentMember 2023-04-01 2023-09-30 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2023-04-01 2023-09-30 0001335730 us-gaap：TreasuryStockCommonMember 2023-04-01 2023-09-30 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2023-04-01 2023-09-30 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2023-04-01 2023-09-30 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2023-04-01 2023-09-30 0001335730 美國-美國公認會計准則：普通股成員 2023-04-01 2023-09-30 0001335730 us-gaap：累計收入會員 2023-04-01 2023-09-30 0001335730 美國-公認會計准則：保留預付款成員 2023-04-01 2023-09-30 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2023-04-01 2023-09-30 0001335730 us-gaap：RST ContractMember 美國公認會計准則：衍生金融工具資產成員 2023-04-01 2023-09-30 0001335730 us-gaap：SEARCH RateContractMember 美國公認會計准則：衍生金融工具資產成員 2023-04-01 2023-09-30 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2023-04-01 2023-09-30 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2023-04-01 2023-09-30 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2023-04-01 2023-09-30 0001335730 us-gaap：非公認會員 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：非日本企業債券會員 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2023-04-01 2023-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2023-04-01 2023-09-30 0001335730 收件箱：會計標準概念更新606成員 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2023-04-01 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2023-04-01 2023-09-30 0001335730 收件箱：績效財務市場價值和收件箱類型保證會員 2024-04-01 2024-09-30 0001335730 us-gaap：VariableDeliverentyNotPrimaryBeneficiaryMember 2024-04-01 2024-09-30 0001335730 us-gaap：非指定成員 2024-04-01 2024-09-30 0001335730 收件箱：LendingRelated BusinessMember 2024-04-01 2024-09-30 0001335730 收件箱：存款相關商業會員 2024-04-01 2024-09-30 0001335730 收件箱：證券相關商業會員 2024-04-01 2024-09-30 0001335730 us-gaap：金融服務員會員 2024-04-01 2024-09-30 0001335730 收件人：擔保相關商業會員 2024-04-01 2024-09-30 0001335730 收件箱：DelivercyBusinessMember 2024-04-01 2024-09-30 0001335730 us-gaap：FiduciaryAndTrustMember 2024-04-01 2024-09-30 0001335730 收件箱：匯款商業會員 2024-04-01 2024-09-30 0001335730 us-gaap：投資顧問管理和行政服務成員 2024-04-01 2024-09-30 0001335730 us-gaap：證券投資會員 2024-04-01 2024-09-30 0001335730 us-gaap：CreditRiskContractMember us-gaap：貸款會員 2024-04-01 2024-09-30 0001335730 us-gaap：ForeignExchange會員 2024-04-01 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 2024-04-01 2024-09-30 0001335730 美國公認會計准則：交易所貿易基金成員 2024-04-01 2024-09-30 0001335730 收件箱：全球市場公司會員 美國公認會計准則：交易所貿易基金成員 2024-04-01 2024-09-30 0001335730 收件箱：交易賬戶GainsMember 2024-04-01 2024-09-30 0001335730 收件箱：投資收益損失網絡和收件箱非興趣收入會員 us-gaap：累積淨未實現投資收益損失會員 2024-04-01 2024-09-30 0001335730 收件箱：Foreign Exchange GainsLossesNetworn NoninterestIncome Member us-gaap：累積翻譯調整成員 2024-04-01 2024-09-30 0001335730 收件箱：薪資和收件箱福利會員 收件箱：累計定義福利計劃調整成員 2024-04-01 2024-09-30 0001335730 收件箱：收件箱非利息收入費用會員 收件箱：累計擁有信用風險調整成員 2024-04-01 2024-09-30 0001335730 us-gaap：國家投資會員 2024-04-01 2024-09-30 0001335730 收件箱：交易證券會員 2024-04-01 2024-09-30 0001335730 us-gaap：債務證券成員 2024-04-01 2024-09-30 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 2024-04-01 2024-09-30 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 us-gaap：CreditRiskContractMember 2024-04-01 2024-09-30 0001335730 us-gaap：RST ContractMember 2024-04-01 2024-09-30 0001335730 us-gaap：EquityContractMember 2024-04-01 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember 2024-04-01 2024-09-30 0001335730 us-gaap：外國交易所合同成員 2024-04-01 2024-09-30 0001335730 us-gaap：股票證券成員 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 2024-04-01 2024-09-30 0001335730 us-gaap：高級債務義務成員 2024-04-01 2024-09-30 0001335730 us-gaap：運營部門成員 收件箱：零售和商業銀行公司成員 2024-04-01 2024-09-30 0001335730 us-gaap：運營部門成員 收件人：CorporateAndInstitutionalCompany成員 2024-04-01 2024-09-30 0001335730 us-gaap：運營部門成員 收件箱：GlobalCorporateCompany會員 2024-04-01 2024-09-30 0001335730 us-gaap：運營部門成員 收件箱：全球市場公司會員 2024-04-01 2024-09-30 0001335730 us-gaap：運營部門成員 收件箱：資產管理公司成員 2024-04-01 2024-09-30 0001335730 us-gaap：IntersegmentElimationMember 2024-04-01 2024-09-30 0001335730 us-gaap：Property PlantAndEquipmentMember 2024-04-01 2024-09-30 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2024-04-01 2024-09-30 0001335730 us-gaap：TreasuryStockCommonMember 2024-04-01 2024-09-30 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2024-04-01 2024-09-30 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2024-04-01 2024-09-30 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2024-04-01 2024-09-30 0001335730 美國-美國公認會計准則：普通股成員 2024-04-01 2024-09-30 0001335730 us-gaap：累計收入會員 2024-04-01 2024-09-30 0001335730 美國-公認會計准則：保留預付款成員 2024-04-01 2024-09-30 0001335730 us-gaap：SEARCH RateContractMember 美國公認會計准則：衍生金融工具資產成員 2024-04-01 2024-09-30 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2024-04-01 2024-09-30 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2024-04-01 2024-09-30 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2024-04-01 2024-09-30 0001335730 us-gaap：RST ContractMember 美國公認會計准則：衍生金融工具資產成員 2024-04-01 2024-09-30 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2024-04-01 2024-09-30 0001335730 us-gaap：非公認會員 2024-04-01 2024-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2024-04-01 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2024-04-01 2024-09-30 0001335730 us-gaap：國家會計師事務所成員 2024-04-01 2024-09-30 0001335730 收件箱：信用相關合同成員 美國公認會計准則：衍生金融工具資產成員 2024-04-01 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-04-01 2024-09-30 0001335730 us-gaap：負債成員 2024-04-01 2024-09-30 0001335730 收件箱：會計標準概念更新606成員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 警告：警告貸款重組修改成員 2024-04-01 2024-09-30 0001335730 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈外國成員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：國家稅率低於市場削減會員 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：延長期限和削減利率削減成員 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：校長寬恕成員 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 收件箱：收件箱貸款重組修改會員 2024-04-01 2024-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 us-gaap：ExtendedMaturityMember 2024-04-01 2024-09-30 0001335730 收件箱：MhfgGroupMember us-gaap：養老金計劃定義受益人成員 2024-04-01 2024-09-30 0001335730 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2023-09-30 0001335730 收件箱：國內債務證券會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈外國成員 2023-09-30 0001335730 us-gaap：財務應收賬款30 To 59 DaysLast DueMember 2023-09-30 0001335730 us-gaap：地理分佈外國成員 2023-09-30 0001335730 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈外國成員 2023-09-30 0001335730 us-gaap：財務資產過去DueMember us-gaap：地理分佈外國成員 2023-09-30 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈外國成員 2023-09-30 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈外國成員 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 us-gaap：財務資產NotPastDueMember 2023-09-30 0001335730 us-gaap：財務資產過去DueMember 2023-09-30 0001335730 us-gaap：財務應收賬款到Greater Than 90天過去的會員 2023-09-30 0001335730 us-gaap：融資應收賬款60 To 89 DaysLast DueMember 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：小型和中型公司成員 收件箱：CorporateRating會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：大型公司會員 收件箱：CorporateRating會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：住房貸款會員 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：零售評級會員 us-gaap：財務應收賬款30 To 59 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務資產NotPastDueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務資產過去DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：財務應收賬款到Greater Than 90天過去的會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 警告：警告會員 收件箱：零售評級會員 us-gaap：融資應收賬款60 To 89 DaysLast DueMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 us-gaap：HeldtomaturitySecurities成員 收件箱：政府債券會員 2023-03-31 0001335730 收件箱：國內債務證券會員 2023-03-31 0001335730 收件箱：TheRepurchasePlan成員 美國-美國公認會計准則：普通股成員 us-gaap：SubSequentEventMember 2024-11-14 2024-11-14 0001335730 收件箱：TheRepurchasePlan成員 美國-美國公認會計准則：普通股成員 us-gaap：SubSequentEventMember 2024-11-14 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2023-03-31 0001335730 us-gaap：地理分佈外國成員 2023-03-31 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-03-31 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-03-31 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2023-03-31 0001335730 us-gaap：累計收入會員 2023-03-31 0001335730 美國-公認會計准則：保留預付款成員 2023-03-31 0001335730 us-gaap：TreasuryStockCommonMember 2023-03-31 0001335730 us-gaap：非公認會員 2023-03-31 0001335730 美國-美國公認會計准則：普通股成員 2023-03-31 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2023-03-31 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2023-03-31 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2023-03-31 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2023-03-31 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2023-09-30 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2023-09-30 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2023-09-30 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2023-09-30 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2023-09-30 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2023-09-30 0001335730 us-gaap：累計收入會員 2023-09-30 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2023-03-31 0001335730 us-gaap：SEARCH RateContractMember 美國公認會計准則：衍生金融工具資產成員 2023-03-31 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2023-03-31 0001335730 收件箱：信用相關合同成員 美國公認會計准則：衍生金融工具資產成員 2023-03-31 0001335730 us-gaap：RST ContractMember 美國公認會計准則：衍生金融工具資產成員 2023-03-31 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2023-03-31 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2023-03-31 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2023-03-31 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2023-03-31 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2023-03-31 0001335730 us-gaap：可供出售證券成員 收件箱：非日本企業債券會員 2023-03-31 0001335730 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2023-09-30 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2023-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：非日本企業債券會員 2023-09-30 0001335730 收件箱：信用相關合同成員 美國公認會計准則：衍生金融工具資產成員 2023-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2023-09-30 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2023-09-30 0001335730 us-gaap：SEARCH RateContractMember 美國公認會計准則：衍生金融工具資產成員 2023-09-30 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2023-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2023-09-30 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2023-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2023-09-30 0001335730 us-gaap：LongTerm DebtMember 2023-03-31 0001335730 us-gaap：LongTerm DebtMember 2023-09-30 0001335730 us-gaap：非公認會員 2023-09-30 0001335730 us-gaap：家長成員 2023-09-30 0001335730 美國-美國公認會計准則：普通股成員 2023-09-30 0001335730 美國-公認會計准則：保留預付款成員 2023-09-30 0001335730 us-gaap：TreasuryStockCommonMember 2023-09-30 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-03-31 0001335730 us-gaap：累計收入會員 2024-03-31 0001335730 美國-公認會計准則：保留預付款成員 2024-03-31 0001335730 us-gaap：TreasuryStockCommonMember 2024-03-31 0001335730 us-gaap：非公認會員 2024-03-31 0001335730 美國-美國公認會計准則：普通股成員 2024-03-31 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2024-03-31 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2024-03-31 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2024-03-31 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2024-03-31 0001335730 收件箱：銀行和收件箱金融機構成員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 收件箱：主權會員 us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：ResidentialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：CommercialPortfolioSegmentMember us-gaap：地理分佈國內會員 2024-09-30 0001335730 us-gaap：累計收入會員 2024-09-30 0001335730 us-gaap：累計淨投資收益損失包含部分歸因於非自願成員 2024-09-30 0001335730 us-gaap：累計定義福利計劃調整包括部分歸因於非自願成員 2024-09-30 0001335730 收件箱：累計自有信用風險調整包含部分歸因於非收件箱成員 2024-09-30 0001335730 Us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2024-03-31 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2024-03-31 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2024-03-31 0001335730 us-gaap：可供出售證券成員 收件箱：非日本企業債券會員 2024-03-31 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2024-03-31 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2024-03-31 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2024-03-31 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2024-03-31 0001335730 us-gaap：SEARCH RateContractMember 美國公認會計准則：衍生金融工具資產成員 2024-03-31 0001335730 收件箱：信用相關合同成員 美國公認會計准則：衍生金融工具資產成員 2024-03-31 0001335730 us-gaap：可供出售證券成員 收件箱：非日本企業債券會員 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：Than Securities InvestmentMember 2024-09-30 0001335730 us-gaap：國家會計師事務所成員 2024-09-30 0001335730 us-gaap：EquityContractMember 美國公認會計准則：衍生金融工具資產成員 2024-09-30 0001335730 us-gaap：外國交易所合同成員 美國公認會計准則：衍生金融工具資產成員 2024-09-30 0001335730 收件箱：交易證券會員 us-gaap：股票證券成員 2024-09-30 0001335730 收件箱：交易證券會員 us-gaap：Allendix CorporateBondsMember 2024-09-30 0001335730 收件箱：信用相關合同成員 美國公認會計准則：衍生金融工具資產成員 2024-09-30 0001335730 us-gaap：RST ContractMember 美國公認會計准則：衍生金融工具資產成員 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：住宅抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：可供出售證券成員 us-gaap：商業抵押貸款支持證券成員 2024-09-30 0001335730 us-gaap：可供出售證券成員 收件箱：日本企業債券會員 2024-09-30 0001335730 us-gaap：LongTerm DebtMember 2024-03-31 0001335730 us-gaap：LongTerm DebtMember 2024-09-30 0001335730 us-gaap：負債成員 2024-09-30 0001335730 us-gaap：非公認會員 2024-09-30 0001335730 美國-公認會計准則：保留預付款成員 2024-09-30 0001335730 us-gaap：家長成員 2024-09-30 0001335730 us-gaap：TreasuryStockCommonMember 2024-09-30 0001335730 美國-美國公認會計准則：普通股成員 2024-09-30 iso4217：日元 xbrli：股票 utr：年 xbrli：純粹 utr：月 警告：細分 iso4217：日元 xbrli：股票
Table of Contents
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM
6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2024
Commission File Number
001-33098
 
 
Mizuho Financial Group, Inc.
(Translation of registrant’s name into English)
 
 
5-5,
Otemachi
1-chome
Chiyoda-ku,
Tokyo
100-8176
Japan
(Address of principal executive office)
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F. Form
20-F ☒ Form
40-F ☐
 
 
 
Table of Contents
This report on Form
6-K
shall be deemed to be incorporated by reference into the prospectus forming a part of Mizuho Financial Group, Inc.’s Registration Statement on Form
F-3
(File
No. 333-282497)
and to be a part of such prospectus from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBITS
 
Exhibit Number
     
15
.		    Acknowledgment Letter of Ernst & Young ShinNihon LLC
101.INS    Inline XBRL Instance Document—the instance document does not appear in the Interactive Da
ta File
because its XBRL tags are embedded within the Inline XBRL document
101.SCH    Inline XBRL Taxonomy Extension Schema
101.CAL    Inline XBRL Taxonomy Extension Calculation Linkbase
101.DEF    Inline XBRL Taxonomy Extension Definition Linkbase
101.LAB    Inline XBRL Taxonomy Extension Label Linkbase
101.PRE    Inline XBRL Taxonomy Extension Presentation Linkbase
104    The cover page for the Company’s Interim Report on Form
6-K
for the six months ended September 30, 2024, has been formatted in Inline XBRL
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Date:  
December 26, 2024
Mizuho Financial Group, Inc.
By:  
/s/ Masahiro Kihara
Name:   Masahiro Kihara
Title:   President & Group CEO
Table of Contents
In this report, yen figures and percentages presented in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, have been rounded to the figures shown, and yen figures and percentages presented in accordance with accounting principles generally accepted in Japan, or Japanese GAAP, have been truncated to the figures shown, in each case, unless otherwise specified. Accordingly, the sum of the figures presented in tables or otherwise herein may not match the total amount.
Unless otherwise specified, for purposes of this report, we have presented our financial information in accordance with U.S. GAAP.
Table of Contents
 
    
Page
  
     2  
     5  
     6  
     10  
     14  
     20  
     23  
    
F-1
  
    
F-3
  
    
F-4
  
    
F-5
  
    
F-6
  
    
F-7
  
 
1
Table of Contents
Recent Developments
The following is a summary of significant business developments since March 31, 2024 relating to Mizuho Financial Group, Inc.
Operating Environment
As to the recent economic environment, developed countries in Europe and the United States have begun to cut interest rates in response to the slowdown in inflation. In the United States, although the labor market has been slowing due to the effects of monetary tightening, the economy has remained resilient, driven by consumption by high-income earners. On the other hand, in Europe, consumption and corporate activities have continued to stagnate. In China, the economy has lacked strength due to the correction in the real estate market and sluggish consumer spending.
In Japan, the economy has been experiencing a moderate recovery. While low growth in overseas economies has weighed on production in the manufacturing sector, capital investment and wages have been on an increasing trend on the back of high corporate profits. Going forward, a moderate recovery is likely to continue, led by domestic demand, as high corporate profits continue to be allocated to capital investment and wage increases, while the trend of passing on costs due to yen depreciation and increased labor costs to prices continues. In light of these circumstances, the Bank of Japan (“BOJ”) decided to raise its policy interest rate in July 2024. It is expected that the BOJ will continue to determine its monetary policy by assessing developments in wages and prices and other trends of the economy going forward.
In the United States, the economy has continued to grow steadily, driven by consumption by high-income earners, even under the rapid monetary tightening by the Federal Reserve Board (“FRB”). On the other hand, due to the impact of monetary tightening, corporations have been refraining from hiring, and the labor market is slowing down. Additionally, inflation has slowed steadily as a result of the easing of labor and supply shortages. Based on these circumstances, the FRB decided to lower its policy interest rate at the meetings of the Federal Open Market Committee held in September and November 2024. However, since there are concerns that the rise in crude oil prices and other factors will extend to commodity prices, it is expected that the FRB will determine future policies carefully while keeping an eye on inflation and economic conditions.
In Europe, the economy has continued to experience low growth. Consumer spending has been stagnant, and the impact of monetary tightening has exerted downward pressure on companies’ investment demand. In addition, inflation has slowed as a result of a pause in the passing of rising energy costs onto consumers and the economic downturn. The European Central Bank decided to lower its policy interest rate at its meeting held in June and three consecutive meetings held since September 2024, in response to the economic downturn and the slowdown in inflation. However, the labor market remains tight and the risk of a resurgence in wages and price inflation remains.
In Asia, the economy has been lacking momentum. In China, although government support measures and robust exports have supported the economy, the prolonged correction in the real estate market and weak consumer spending have resulted in an economy lacking momentum. In addition, conflicts between the United States and China continue to pose a high degree of uncertainty with respect to China’s trade and national security.
In emerging countries, the economy is beginning to recover due to the improved market conditions for semiconductors. However, the market improvement is skewed towards export goods such as electrical machinery, and the economy has not yet fully recovered.
As for the future outlook of the global economy, growth is expected to remain sluggish, as the effects of monetary tightening will continue in Europe and the United States, and the slowdown in the Chinese economy
 
2
Table of Contents
will weigh on the global economy. On the other hand, depending on the circumstances, such as the effects of the economic downturn due to previous monetary tightening in Europe and the United States being worse than expected, heightened tensions in the Middle East, and policy changes following the U.S. presidential election, there is a risk of turmoil in financial and capital markets and further economic deterioration, which may also adversely affect the Japanese economy.
Key indicators of Japanese economic conditions in recent periods include the following:
 
  •  
Japan’s real gross domestic product on a quarterly basis, compared to the corresponding period of the previous year, decreased by 0.9% in the quarter ended June 30, 2024, and increased by 0.5% in the quarter ended September 30, 2024. The gross domestic product increased consecutively from the quarter ended June 30, 2021 through the quarter ended December 31, 2023, decreased in the two consecutive quarters ended June 30, 2024, and increased in the quarter ended September 30, 2024.
 
  •  
In September 2016, the BOJ introduced “quantitative and qualitative monetary easing with yield curve control” by strengthening its two previous policy frameworks, namely “quantitative and qualitative monetary easing (“QQE”)” and “QQE with a negative interest rate.” These policies aimed to drive the observed consumer price index to a level exceeding the price stability target of 2% and to maintain the index above that target in a stable manner. Under this policy framework, the BOJ set a guideline for market operations: regarding short-term interest rates, the BOJ would apply an interest rate of negative 0.1% to certain excess balances in current accounts held by financial institutions at the BOJ; and regarding long-term interest rates, it would purchase Japanese government bonds to control long-term interest rates so that the yield of
10-year
Japanese government bonds would remain at around 0%.
In December 2022, the BOJ decided to expand the range in which it allowed the yield of
10-year
Japanese government bonds to fluctuate, from between around plus or minus 0.25% to between around plus or minus 0.5%, in order to improve market function and encourage the smoother formation of the entire yield curve, while maintaining accommodative financial conditions.
In October 2023, the BOJ decided to further increase flexibility in the conduct of yield curve control. While the BOJ would maintain the target level of the yield of
10-year
Japanese government bonds at around zero percent, it would conduct yield curve control with an upper bound of 1.0 % for these yields as a reference.
In March 2024, the BOJ expressed the view that its policy frameworks of “quantitative and qualitative monetary easing with yield curve control” and the negative interest rate policy since 2016 have fulfilled their roles because the BOJ assessed that a virtuous cycle between wages and prices had emerged, and judged that the price stability target of 2 percent had come in sight and would be achieved in a sustainable and stable manner towards the end of the projection period of the January 2024 Outlook Report (Outlook for Economic Activity and Prices). As the guideline for market operations, the BOJ decided to (i) end the negative interest rate policy and encourage the uncollateralized overnight call rate to remain at around 0 to 0.1 percent, and (ii) eliminate the yield curve control and abolish the yield target level on
10-year
Japanese government bonds.
In July 2024, the BOJ decided (i) to encourage the uncollateralized overnight call rate to remain at around 0.25 percent, and (ii) on a plan to reduce the amount of its monthly outright purchases of Japanese government bonds by about 400 billion yen each calendar quarter in principle down to about 3 trillion yen during a period from January to March 2026.
 
  •  
The yield on newly issued
10-year
Japanese government bonds, which is a key long-term interest rate indicator, was 0.727% as of March 29, 2024 and increased to 0.861% as of September 30, 2024. Thereafter, the yield increased further to 1.048% as of November 29, 2024.
 
  •  
According to Teikoku Databank, a Japanese research institution, there were 4,208 corporate bankruptcies in the six months ended September 30, 2023, involving approximately ¥1.6 trillion in total liabilities, 4,673 corporate bankruptcies in the six months ended March 31, 2024, involving
 
3
Table of Contents
 
approximately ¥0.8 trillion in total liabilities, and 4,990 corporate bankruptcies in the six months ended September 30, 2024, involving approximately ¥1.3 trillion in total liabilities. The number of corporate bankruptcies has increased for six consecutive half-year periods since the second half of fiscal year 2021.
 
  •  
The Nikkei Stock Average, which is an average of the price of 225 stocks listed on the Tokyo Stock Exchange, decreased by 6.1% to ¥37,919.55 as of September 30, 2024 compared to March 29, 2024. Thereafter, the Nikkei Stock Average increased to ¥38,208.03 as of November 29, 2024.
 
  •  
The yen to U.S. dollar spot exchange rate, according to the BOJ, was ¥151.34 to $1.00 as of March 29, 2024 and strengthened to ¥142.38 to $1.00 as of September 30, 2024. Thereafter, the yen weakened to ¥149.99 to $1.00 as of November 29, 2024.
Developments Relating to Our Capital
All yen figures and percentages in this subsection are truncated.
We have been pursuing the optimal balance between capital adequacy, growth investment and enhancement of shareholder return.
In the six months ended September 30, 2024, we maintained a sufficient capital base compared to regulatory minimum requirements, mainly as a result of earning ¥566.1 billion of profit attributable to owners of parent (under Japanese GAAP).
Our Common Equity Tier 1 capital ratio under Basel III as of September 30, 2024 was 13.69%.
With respect to redemptions of previously issued securities, we redeemed various securities that are eligible regulatory capital instruments under Basel III upon their respective initial optional redemption dates or their respective maturity dates. As for Additional Tier 1 capital, in December 2024, we redeemed ¥140.0 billion of unsecured perpetual subordinated bonds with an optional redemption clause and a write-down clause issued by Mizuho Financial Group in July 2019. As for Tier 2 capital, in July 2024 and December 2024, we redeemed ¥80.0 billion and ¥25.0 billion of unsecured fixed-term subordinated bonds with a write-down clause issued by Mizuho Financial Group in July 2014 and December 2014, respectively. In June 2024 and October 2024, as for Tier 2 capital, we also redeemed ¥55.0 billion and ¥117.0 billion of unsecured fixed-term subordinated bonds with an optional redemption clause and a write-down clause issued by Mizuho Financial Group in June 2019 and October 2019, respectively.
Meanwhile, as for the new issuances of Additional Tier 1 capital, in April 2024, we issued ¥162.0 billion and ¥68.0 billion of unsecured perpetual subordinated bonds with an optional redemption clause and a write-down clause through public offerings to wholesale investors in Japan. In July 2024, as for Additional Tier 1 capital, we also issued ¥56.5 billion and ¥28.0 billion of unsecured perpetual subordinated bonds with an optional redemption clause and a write-down clause through public offerings to wholesale investors in Japan. With respect to the new issuances of Tier 2 capital, in July 2024, we issued ¥64.0 billion of unsecured fixed-term subordinated bonds with a write-down clause through a public offering to retail investors in Japan. In July 2024, as for Tier 2 capital, we also issued ¥136.0 billion of unsecured fixed-term subordinated bonds with an optional redemption clause and a write-down clause through a public offering to retail investors in Japan.
Interim cash dividends for the fiscal year ending March 31, 2025 were ¥65.0 per share of common stock, an increase of ¥15.0 per share compared to ¥50.0 for the fiscal year ended March 31, 2024.
On November 14, 2024, our Board of Directors resolved to repurchase shares of our common stock and cancel all of the repurchased shares. The resolution authorized the repurchase of up to the lesser of (i) an aggregate of 50,000,000 shares of our common stock and (ii) an aggregate of ¥100 billion between November 15, 2024 and February 28, 2025. During November 2024, we repurchased 6,130,200 shares of our common stock for ¥23.1 billion in aggregate.
 
4
Table of Contents
We maintain our shareholder return policy of progressive dividends as our principal approach while executing flexible and intermittent share repurchases. In addition, as for dividends, we will decide based on the steady growth of our stable earnings base, taking a dividend payout ratio of 40% as a guide into consideration. As for share repurchases, we will consider our business results and capital adequacy, our stock price and the opportunities for growth investment in determining the execution.
Developments Relating to Our Business
Strategic Capital and Business Alliance between Mizuho Financial Group and Rakuten Card
On November 13, 2024, we resolved to enter into a strategic capital and business alliance (“the Alliance”) with Rakuten Card Co., Ltd. (“Rakuten Card”), a consolidated subsidiary of Rakuten Group, Inc. (“Rakuten Group”). In conjunction with the Alliance, we and Rakuten Group executed a share transfer agreement on November 13, 2024, pursuant to which Rakuten Group transferred 14.99% of Rakuten Card’s common stock to us for ¥165 billion on December 1, 2024.
In addition, on the same date, Mizuho Financial Group, Mizuho Bank, UC Card Co., Ltd., each, our consolidated subsidiary, Orient Corporation, our equity-method affiliate, Rakuten Group and Rakuten Card announced the formation of a business alliance that aims to transform Japan’s digital payment landscape. We and Rakuten Group decided to leverage the strengths of these six key companies to develop new, highly convenient retail business models in the increasingly competitive payments industry, that will strengthen customer loyalty and develop solutions that meet the needs of affiliate stores.
Disposing of Our Cross-shareholdings
Reflecting the potential impact on our financial position associated with the risk of stock price fluctuation, as a basic policy, unless we consider the holdings to be meaningful, we will not hold the shares of other companies as cross-shareholdings. Even if we consider the holdings to be meaningful, we will also endeavor to reduce them through dialogue with the issuing companies. As part of the medium-term business plan for the three fiscal years ending March 31, 2026, we are continuing our basic policy of reducing cross-shareholdings. During the six months ended September 30, 2024, we have sold ¥36.9 billion of cross-shareholdings under Japanese GAAP on an acquisition cost basis.
Others
Russia-Ukraine situation
As of March 31 and September 30, 2024, our direct net country exposure to Russia was $1.12 billion and $1.13 billion, respectively, which were only a small percentage of our total exposure. The Russian related exposure figures are on an aggregate basis of Mizuho Bank and Mizuho Trust & Banking, each on a consolidated basis, and take into account the guarantee amount in the country where the risk exists, and the exposure primarily consisted of outstanding loans, commitment lines, guarantee transactions and derivatives-related credit. Included within this exposure are loans made by AO Mizuho Bank (Moscow). Loans of AO Mizuho Bank (Moscow) decreased by $0.05 billion from $0.09 billion as of March 31, 2024 to $0.04 billion as of September 30, 2024.
Considering the country risk arising from the continued sanctions against Russia and the downgrading of their credit rating, we incorporated the estimated impact of the Russia-Ukraine situation into the macroeconomic scenario used for determining the allowance for credit losses on loans.
Accounting Changes
See note 2 to our consolidated financial statements included elsewhere in this report.
 
5
Table of Contents
Operating Results
The following table shows certain information as to our income, expenses and net income attributable to MHFG shareholders for the six months ended September 30, 2023 and 2024:
 
    
Six months ended September 30,
    
Increase

(decrease)
  
    
  2023  
    
  2024  
  
                    
    
(in billions of yen)
  
Interest and dividend income
    ¥ 2,717     ¥ 3,169     ¥ 452  
Interest expense
      2,081       2,579       498  
  
 
 
    
 
 
    
 
 
  
Net interest income
      636       590       (46 ) 
Provision (credit) for credit losses
      (2 )      (2 )      1  
  
 
 
    
 
 
    
 
 
  
Net interest income after provision (credit) for credit losses
      638       592       (47 ) 
Noninterest income
      992       1,337       346  
Noninterest expenses
      1,039       1,153       113  
  
 
 
    
 
 
    
 
 
  
Income before income tax expense
      591       777       186  
Income tax expense
      178       228       50  
  
 
 
    
 
 
    
 
 
  
Net income
      413       548       136  
Less: Net income (loss) attributable to noncontrolling interests
      106       (15 )      (121 ) 
  
 
 
    
 
 
    
 
 
  
Net income attributable to MHFG shareholders
    ¥ 307     ¥ 563     ¥ 256  
  
 
 
    
 
 
    
 
 
  
The following is a discussion of major components of our net income attributable to MHFG shareholders for the six months ended September 30, 2023 and 2024.
Net Interest Income
The following table shows the average balance of interest-earning assets and interest-bearing liabilities, interest amounts and the annualized average interest rates on such assets and liabilities for the six months ended September 30, 2023 and 2024:
 
   
Six months ended September 30,
    
Increase (decrease)
  
   
2023
    
2024
  
   
Average

balance
    
Interest

amount
    
Interest

rate
    
Average

balance
    
Interest

amount
    
Interest

rate
    
Average

balance
    
Interest

amount
    
Interest

rate
  
                                                       
   
(in billions of yen, except percentages)
  
Interest-bearing deposits in other banks
   ¥ 64,922     ¥ 485       1.49 %    ¥ 73,732     ¥ 503       1.36 %    ¥ 8,811     ¥ 19       (0.13 )% 
Call loans and funds sold
     5,086       17       0.67       1,059       13       2.51       (4,027 )      (4 )      1.84  
Receivables under resale agreements and securities borrowing transactions
     18,062       308       3.41       24,379       468       3.83       6,317       159       0.42  
Trading account assets
     20,441       337       3.29       23,943       412       3.43       3,501       75       0.15  
Investments
     33,662       129       0.77       28,872       234       1.62       (4,790 )      105       0.85  
Loans
     96,506       1,440       2.98       97,503       1,538       3.15       997       98       0.17  
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
    
Total interest-earning assets
     238,679       2,717       2.27       249,487       3,169       2.53       10,808       452       0.26  
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
    
Deposits
     141,795       1,030       1.45       140,638       1,155       1.64       (1,157 )      125       0.19  
Call money and funds purchased
     2,334       13       1.11       2,758       7       0.52       424       (6 )      (0.59 ) 
Payables under repurchase agreements and
securities lending transactions
     32,774       731       4.45       40,856       1,057       5.16       8,082       327       0.72  
Other short-term borrowings
(1)
     4,063       42       2.08       4,218       67       3.17       154       24       1.08  
Trading account liabilities
     6,590       85       2.57       5,759       114       3.95       (830 )      29       1.38  
Long-term debt
     15,412       180       2.33       16,549       178       2.15       1,137       (1 )      (0.18 ) 
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
    
Total interest-bearing liabilities
     202,968       2,081       2.04       210,778       2,579       2.44       7,810       498       0.40  
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
    
Net
   ¥ 35,711     ¥ 636       0.23     ¥ 38,709     ¥ 590       0.09     ¥ 2,998     ¥ (46 )      (0.13 ) 
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
    
 
Note:
(1)
Other short-term borrowings consist of due to trust accounts, commercial paper and other short-term borrowings.
 
6
Table of Contents
Interest and dividend income increased by ¥452 billion, or 16.7%, from the six months ended September 30, 2023 to ¥3,169 billion in the six months ended September 30, 2024 due mainly to increases in interest income from receivables under resale agreements and securities borrowing transactions and investments. These increases were due mainly to an increase in interest income at our overseas subsidiaries. The changes in the average yields on interest-earning assets contributed to an overall increase in interest and dividend income of ¥352 billion, and the changes in average balances of interest-earning assets contributed to an overall increase in interest and dividend income of ¥100 billion, resulting in a ¥452 billion increase in interest and dividend income.
Interest expense increased by ¥498 billion, or 23.9%, from the six months ended September 30, 2023 to ¥2,579 billion in the six months ended September 30, 2024 due mainly to increases in interest expense on payables under repurchase agreements and securities lending transactions and deposits. These increases were due mainly to an increase in interest expense at our overseas subsidiaries. The changes in average interest rates on interest-bearing liabilities contributed to an overall increase in interest expense of ¥293 billion, and the changes in average balances of interest-bearing liabilities contributed to an overall increase in interest expense of ¥205 billion, resulting in a ¥498 billion increase in interest expense.
As a result of the foregoing, net interest income decreased by ¥46 billion, or 7.2%, from the six months ended September 30, 2023 to ¥590 billion in the six months ended September 30, 2024. Average interest rate spread declined by 0.13 percentage points from the six months ended September 30, 2023 to 0.09% in the six months ended September 30, 2024. The decline of the average interest rate spread was due mainly to a rise in the average yield on interest-bearing liabilities, which more than offset the effect of a rise in average interest rate on interest-earning assets.
Provision (Credit) for Credit Losses
Credit for credit losses for the six months ended September 30, 2024 was ¥2 billion, substantially unchanged from the corresponding period in the previous fiscal year.
Noninterest Income
The following table shows a breakdown of noninterest income for the six months ended September 30, 2023 and 2024:
 
    
Six months ended September 30,
    
Increase

(decrease)
  
    
  2023  
    
  2024  
  
                    
    
(in billions of yen)
  
Fee and commission
    ¥ 524     ¥ 573     ¥ 49  
Fee and commission from securities-related business
      117       127       10  
Fee and commission from deposits business
      8       8       —   
Fee and commission from lending business
      112       118       7  
Fee and commission from remittance business
      52       50       (1 ) 
Fee and commission from asset management business
      56       62       6  
Fee and commission from trust related business
      62       64       2  
Fee and commission from agency business
      19       20       1  
Fee and commission from guarantee related business
      21       23       2  
Fees for other customer services
      78       100       23  
Foreign exchange gains (losses)—net
      23       (120 )      (143 ) 
Trading account gains (losses)—net
      (258 )      802       1,060  
Investment gains (losses)—net
      495       (122 )      (617 ) 
Debt securities
      4       12       8  
Equity securities
      490       (134 )      (624 ) 
Equity in earnings (losses) of equity method investees—net
      47       9       (38 ) 
Gains on disposal of premises and equipment
      8       72       64  
Other noninterest income
      153       123       (30 ) 
  
 
 
    
 
 
    
 
 
  
Total noninterest income
    ¥ 992     ¥ 1,337     ¥ 346  
  
 
 
    
 
 
    
 
 
  
 
7
Table of Contents
Noninterest income increased by ¥346 billion, or 34.9% from the six months ended September 30, 2023 to ¥1,337 billion in the six months ended September 30, 2024. The increase was due mainly to trading account gains—net of ¥802 billion compared to trading account losses—net of ¥258 billion in the corresponding period in the previous fiscal year, offset in part by investment losses—net of ¥122 billion compared to investment gains—net of ¥495 billion in the corresponding period in the previous fiscal year.
Fee and commission
Fee and commission increased by ¥49 billion, or 9.3%, from the six months ended September 30, 2023 to ¥573 billion in the six months ended September 30, 2024. The increase was due mainly to increases in fees for other customer services of ¥23 billion and fee and commission from securities-related business of ¥10 billion. The increase in fees for other customer services was mainly due to an increase in financial advisory fees by our U.S. subsidiary. The increase in fee and commission from securities-related business was due mainly to an increase in fee and commission from securities-related business at our overseas securities subsidiaries.
Foreign exchange gains (losses)—net
Foreign exchange gains (losses)—net was a loss of ¥120 billion in the six months ended September 30, 2024 compared to a gain of ¥23 billion in the corresponding period in the previous fiscal year. The change from foreign exchange gains—net to foreign exchange losses—net was due mainly to fluctuations in foreign exchange rates in the six months ended September 30, 2024.
Trading account gains (losses)—net
Trading account gains (losses)—net was a gain of ¥802 billion in the six months ended September 30, 2024 compared to a loss of ¥258 billion in the corresponding period in the previous fiscal year. The change from trading account losses—net to trading account gains—net was due mainly to an increase in gains related to change in the fair value of our portfolio of foreign currency-denominated securities for which the fair value option was elected due mainly to a fall in U.S. long-term interest rates, partially offset by a decrease in gains on derivatives.
Investment gains (losses)—net
Investment gains (losses)—net was a loss of ¥122 billion in the six months ended September 30, 2024 compared to a gain of ¥495 billion in the corresponding period in the previous fiscal year, among which investment gains (losses)—net related to equity securities was a loss of ¥134 billion in the six months ended September 30, 2024 compared to a gain of ¥490 billion in the corresponding period in the previous fiscal year. The change from investment gains—net to investment losses—net related to equity securities was due mainly to a decrease in gains related to changes in the fair value of Japanese equity securities in the six months ended September 30, 2024, which mostly reflected the relative weakness in market conditions compared to gains in the corresponding period in the previous fiscal year. For further information, see note 3 to our consolidated financial statements included elsewhere in this report.
 
8
Table of Contents
Noninterest Expenses
The following table shows a breakdown of noninterest expenses for the six months ended September 30, 2023 and 2024:
 
    
Six months ended September 30,
    
Increase

(decrease)
  
    
  2023  
     
  2024  
  
                     
    
(in billions of yen)
  
Salaries and employee benefits
    ¥ 371      ¥ 430     ¥ 60  
General and administrative expenses
      347        401       54  
Occupancy expenses
      81        85       4  
Fee and commission expenses
      119        134       15  
Provision (credit) for credit losses on
off-balance-sheet
instruments
      7        (17 )      (24 ) 
Other noninterest expenses
      114        120       5  
  
 
 
     
 
 
    
 
 
  
Total noninterest expenses
    ¥ 1,039      ¥ 1,153     ¥ 113  
  
 
 
     
 
 
    
 
 
  
Noninterest expenses increased by ¥113 billion, or 10.9%, from the six months ended September 30, 2023 to ¥1,153 billion in the six months ended September 30, 2024. The increase was due mainly to increases in salaries and employee benefits of ¥60 billion, and general and administrative expenses of ¥54 billion.
Salaries and employee benefits
Salaries and employee benefits increased by ¥60 billion, or 16.1%, from the six months ended September 30, 2023 to ¥430 billion in the six months ended September 30, 2024. The increase was due mainly to an increase in personnel costs at our overseas subsidiaries.
General and administrative expenses
General and administrative expenses increased by ¥54 billion, or 15.6%, from the six months ended September 30, 2023 to ¥401 billion in the six months ended September 30, 2024. The increase was due mainly to an increase in property expenses at a domestic bank subsidiary.
Income Tax Expense
The following table shows certain information as to our income, income tax expense and net income attributable to MHFG shareholders for the six months ended September 30, 2023 and 2024:
 
    
Six months ended September 30,
    
Increase

(decrease)
  
    
  2023  
     
  2024  
  
                     
    
(in billions of yen)
  
Income before income tax expense
    ¥ 591      ¥ 777     ¥ 186  
Income tax expense
      178        228       50  
Current tax expense
      124        200       76  
Deferred tax expense
      54        29       (26 ) 
  
 
 
     
 
 
    
 
 
  
Net income
      413        548       136  
Less: Net income (loss) attributable to noncontrolling interests
      106        (15 )      (121 ) 
  
 
 
     
 
 
    
 
 
  
Net income attributable to MHFG shareholders
    ¥ 307      ¥ 563     ¥ 256  
  
 
 
     
 
 
    
 
 
  
Income tax expense increased by ¥50 billion from the six months ended September 30, 2023 to ¥228 billion in the six months ended September 30, 2024. Current tax expense in the six months ended September 30, 2024 increased by ¥76 billion from the corresponding period in the previous fiscal year to ¥200 billion. The increase in
 
9
Table of Contents
current tax expense was due mainly to an increase in the taxable income of our principal banking subsidiaries. Deferred tax expense in the six months ended September 30, 2024 decreased by ¥26 billion from the corresponding period in the previous fiscal year to ¥29 billion. The change in deferred tax expense was due primarily to changes in temporary differences of our principal banking subsidiaries.
We consider the sales of
available-for-sale
securities and equity securities to be a qualifying
tax-planning
strategy that is a possible source of future taxable income to the extent necessary in the future mainly with respect to our principal banking subsidiaries in Japan. The reliance on this
tax-planning
strategy of our subsidiaries in Japan was at immaterial levels of overall deferred tax assets as of September 30, 2024.
Net Income (Loss) Attributable to Noncontrolling Interests
Net income (loss) attributable to noncontrolling interests was a loss of ¥15 billion in the six months ended September 30, 2024 compared to income of ¥106 billion in the corresponding period in the previous fiscal year.
Net Income Attributable to MHFG Shareholders
As a result of the foregoing, net income attributable to MHFG shareholders increased by ¥256 billion, or 83.4%, from the corresponding period in the previous fiscal year to ¥563 billion in the six months ended September 30, 2024.
Business Segments Analysis
Our business segment information is prepared based on the internal management reporting systems used by management to measure the performance of our business segments under Japanese GAAP. Since figures reported to management are prepared under Japanese GAAP, they are not consistent with the consolidated financial statements prepared in accordance with U.S. GAAP. This difference is addressed in note 20 to our consolidated financial statements included elsewhere in this report, where a reconciliation to U.S. GAAP of the total amount of all business segments is provided.
We manage our group under an
in-house
company system based on our diverse customer segments. The aim of this system is to leverage our strengths and competitive advantage, which is the seamless integration of our banking, trust banking and securities functions under a holding company structure, to speedily provide high-quality financial services that closely match customer needs.
Specifically, the company system is classified into the following five
in-house
companies, each based on a customer segment: the Retail & Business Banking Company (“RBC”); the Corporate & Investment Banking Company (“CIBC”); the Global Corporate & Investment Banking Company (“GCIBC”); the Global Markets Company (“GMC”); and the Asset Management Company (“AMC”). These customer segments are regarded as our operating segments and constitute reportable segments.
As background, effective as of April 1, 2023, we partially restructured our
in-house
company system. CIBC was newly established through the integration of a former
in-house
company named the Corporate & Institutional Company and the investment banking functions of a former unit named the Global Products Unit. With the new establishment of CIBC above, a former
in-house
company named the Global Corporate Company changed its name to GCIBC.
For a brief description of each of our business segments, see note 20 to our consolidated financial statements included elsewhere in this report.
 
10
Table of Contents
Results of Operations by Business Segment
Consolidated Results of Operations
Consolidated gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥230.3 billion, compared to the six months ended September 30, 2023, to ¥1,561.5 billion. Consolidated general and administrative expenses for the six months ended September 30, 2024 increased by ¥89.6 billion compared to the six months ended September 30, 2023, to ¥885.7 billion. Consolidated equity in earnings of equity method
investees-net
for the six months ended September 30, 2024 increased by ¥4.2 billion, compared to the six months ended September 30, 2023, to ¥27.7 billion. Consolidated net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥142.2 billion, compared to the six months ended September 30, 2023, to ¥696.6 billion.
 
   
Mizuho Financial Group (Consolidated)
  
   
RBC
    
CIBC
    
GCIBC
    
GMC
    
AMC
    
Others
(6)
    
Total
  
                                           
   
(in billions of yen)
  
Six months ended September 30, 2023
(1)
:
              
Gross profits + Net gains (losses) related to ETFs and others
(2)
   ¥ 347.9     ¥ 261.6     ¥ 344.4     ¥ 285.1     ¥ 27.5     ¥ 64.4     ¥ 1,331.2  
General and administrative expenses
(3)
     308.7       104.0       178.1       153.8       17.1       34.3       796.1  
Equity in earnings (losses) of equity method
investees-net
     5.7       3.8       13.2       —        (0.9 )      1.6       23.5  
Amortization of goodwill and others
     —        0.4       0.4       —        3.2       0.1       4.2  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net business profits (losses)
(4)
+ Net gains (losses) related to ETFs and others
   ¥ 44.9     ¥ 161.1     ¥ 179.1     ¥ 131.3     ¥ 6.2     ¥ 31.6     ¥ 554.3  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fixed assets
(5)
   ¥ 498.9     ¥ 152.3     ¥ 188.9     ¥ 86.4     ¥ —      ¥ 781.9     ¥ 1,708.6  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
   
Mizuho Financial Group (Consolidated)
  
   
RBC
    
CIBC
    
GCIBC
    
GMC
    
AMC
    
Others
(6)
    
Total
  
                                           
   
(in billions of yen)
  
Six months ended September 30, 2024
(1)
:
              
Gross profits + Net gains (losses) related to ETFs and others
(2)
   ¥ 379.8     ¥ 301.2     ¥ 385.1     ¥ 401.3     ¥ 29.5     ¥ 64.4     ¥ 1,561.5  
General and administrative expenses
(3)
     343.6       116.6       217.1       168.0       18.2       22.0       885.7  
Equity in earnings (losses) of equity method
investees-net
     4.2       5.8       13.4       —        0.2       3.9       27.7  
Amortization of goodwill and others
     —        0.4       3.1       —        3.0       0.2       6.9  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net business profits (losses)
(4)
+ Net gains (losses) related to ETFs and others
   ¥ 40.5     ¥ 190.0     ¥ 178.2     ¥ 233.2     ¥ 8.4     ¥ 46.0     ¥ 696.6  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fixed assets
(5)
   ¥ 549.2     ¥ 150.5     ¥ 188.3     ¥ 87.8     ¥ —      ¥ 873.1     ¥ 1,849.0  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Income and expenses of foreign branches of Mizuho Bank and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates.
(2)
“Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs and others consist of net gains (losses) on ETFs held by Mizuho Bank and Mizuho Trust & Banking on their
non-consolidated
basis and net gains (losses) on operating investment securities of Mizuho Securities on its consolidated basis. For the six months ended September 30, 2023 and 2024, net gains (losses) related to ETFs and others amounted to ¥18.3 billion and ¥40.8 billion, respectively, of which ¥17.2 billion and ¥37.2 billion are included in GMC, respectively.
(3)
“General and administrative expenses” excludes
non-allocated
gains (losses), net.
 
11
Table of Contents
(4)
Net business profits (losses) is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (as defined above) less general and administrative expenses (excluding
non-allocated
gains (losses), net) plus equity in earnings (losses) of equity method
investees-net
less amortization of goodwill and others. Measurement of net business profits (losses) is required for regulatory reporting to the Financial Services Agency of Japan.
(5)
“Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and
equipment-net;
Goodwill; Intangible assets; and
right-of-use
assets related to operating leases included in Other assets. The above table does not include other asset amounts because “Fixed assets” is the only balance sheet metric that management uses when evaluating and making decisions pertaining to the operating segments. “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, consolidating adjustments, and others. Certain “Fixed assets” expenses have been allocated to each segment using reasonable allocation criteria.
(6)
“Others” includes the following items:
  •  
profits and expenses pertaining to consolidated subsidiaries that are not subject to allocation;
  •  
consolidating adjustments, including elimination of internal transaction between each segment;
  •  
equity in earnings (losses) of equity method
investees-net
that are not subject to allocation; and
  •  
profits and losses pertaining to derivative transactions that reflect the counterparty risk of the individual parties and other factors in determining fair market value.
RBC
Gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥31.9 billion, or 9.1%, compared to the six months ended September 30, 2023, to ¥379.8 billion. The increase was attributable mainly to an increase in
non-interest
income and an improvement in deposit income due to the rise in JPY interest rates.
General and administrative expenses for the six months ended September 30, 2024 increased by ¥34.8 billion or 11.2%, compared to the six months ended September 30, 2023, to ¥343.6 billion.
As a result, net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 decreased by ¥4.4 billion, or 9.8%, compared to the six months ended September 30, 2023, to ¥40.5 billion.
CIBC
Gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥39.5 billion, or 15.1%, compared to the six months ended September 30, 2023, to ¥301.2 billion. The increase was attributable mainly to increases in deposit and loan income.
General and administrative expenses for the six months ended September 30, 2024 increased by ¥12.6 billion, or 12.1%, compared to the six months ended September 30, 2023, to ¥116.6 billion.
As a result, net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥28.9 billion, or 17.9%, compared to the six months ended September 30, 2023, to ¥190.0 billion.
GCIBC
Gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥40.6 billion, or 11.8%, compared to the six months ended September 30, 2023, to ¥385.1 billion. The increase was attributable mainly to a recovery in capital markets-related income and an increase in credit-related income.
 
12
Table of Contents
General and administrative expenses for the six months ended September 30, 2024 increased by ¥39.0 billion, or 21.9%, compared to the six months ended September 30, 2023, to ¥217.1 billion.
As a result, together with an increase in amortization of goodwill and others, net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 decreased by ¥0.8 billion, or 0.4%, compared to the six months ended September 30, 2023, to ¥178.2 billion.
GMC
Gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥116.1 billion, or 40.7%, compared to the six months ended September 30, 2023, to ¥401.3 billion. The increase was attributable mainly to an increase in banking income and strong results in fixed income, currencies, commodities and equities.
General and administrative expenses for the six months ended September 30, 2024 increased by ¥14.2 billion, or 9.2%, compared to the six months ended September 30, 2023, to ¥168.0 billion.
As a result, net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥101.9 billion, or 77.6%, compared to the six months ended September 30, 2023, to ¥233.2 billion.
AMC
Gross profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥1.9 billion, or 7.1%, compared to the six months ended September 30, 2023, to ¥29.5 billion. The increase was attributable mainly to an increase in revenue from publicly offered investment trusts.
General and administrative expenses for the six months ended September 30, 2024 increased by ¥1.1 billion, or 6.7%, compared to the six months ended September 30, 2023, to ¥18.2 billion.
As a result, net business profits + net gains related to ETFs and others for the six months ended September 30, 2024 increased by ¥2.2 billion, or 35.2%, compared to the six months ended September 30, 2023, to ¥8.4 billion.
 
13
Table of Contents
Financial Condition
Assets
Our assets as of March 31, 2024 and September 30, 2024 were as follows:
 
    
As of
    
Increase

(decrease)
  
    
March 31,

2024
    
September 30,

2024
  
                    
    
(in billions of yen)
  
Cash and due from banks
    ¥ 2,046     ¥ 2,191     ¥ 144  
Interest-bearing deposits in other banks
      72,067       70,483       (1,583 ) 
Call loans and funds sold
      1,392       1,243       (149 ) 
Receivables under resale agreements
      20,535       22,659       2,124  
Receivables under securities borrowing transactions
      2,352       2,176       (175 ) 
Trading account assets
      36,760       37,819       1,060  
Investments
      27,798       27,030       (769 ) 
Loans
      98,445       97,103       (1,342 ) 
Allowance for credit losses on loans
      (750 )      (716 )      34  
  
 
 
    
 
 
    
 
 
  
Loans, net of allowance
      97,695       96,387       (1,307 ) 
Premises and
equipment-net
      1,714       1,744       29  
Due from customers on acceptances
      438       373       (64 ) 
Accrued income
      692       667       (25 ) 
Goodwill
      164       161       (4 ) 
Intangible assets
      45       40       (5 ) 
Deferred tax assets
      196       171       (25 ) 
Other assets
      8,280       7,663       (617 ) 
  
 
 
    
 
 
    
 
 
  
Total assets
    ¥ 272,173     ¥ 270,806     ¥ (1,367 ) 
  
 
 
    
 
 
    
 
 
  
Total assets decreased by ¥1,367 billion from March 31, 2024 to ¥270,806 billion as of September 30, 2024. The decrease was due mainly to decreases of ¥1,583 billion in interest-bearing deposits in other banks and ¥1,307 billion in loans, net of allowance, offset in part by an increase of ¥2,124 billion in receivables under resale agreements.
 
14
Table of Contents
Loans
Loans outstanding
The following table shows our loans outstanding as of March 31, 2024 and September 30, 2024:
 
    
As of
    
Increase

(decrease)
  
    
March 31, 2024
    
September 30, 2024
  
                                        
    
(in billions of yen, except percentages)
  
Domestic:
               
Corporate:
               
Large companies
    ¥ 45,921        46.6 %    ¥ 45,790        47.2 %    ¥ (130 )      0.5 % 
Small and
medium-sized
companies
      2,436        2.5       2,327        2.4       (109 )      (0.1 ) 
Retail:
               
Housing loan
      7,170        7.3       6,957        7.2       (213 )      (0.1 ) 
Others
      1,403        1.4       1,343        1.4       (60 )      0.0  
Sovereign
      2,447        2.5       2,512        2.6       65       0.1  
Banks and other financial institutions
      1,231        1.3       757        0.8       (475 )      (0.5 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Total domestic
      60,608        61.6       59,686        61.5       (922 )      (0.1 ) 
Foreign:
               
Corporate
(1)
      33,905        34.4       33,597        34.6       (308 )      0.2  
Retail
      10        0.0       10        0.0       —        0.0  
Sovereign
      687        0.7       673        0.7       (14 )      0.0  
Banks and other financial institutions
      3,235        3.3       3,138        3.2       (97 )      (0.1 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Total foreign
      37,837        38.4       37,417        38.5       (419 )      0.1  
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Total loans before allowance for credit losses on loans
    ¥ 98,445        100.0 %    ¥ 97,103        100.0 %    ¥ (1,342 )      —   
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
 
Note:
(1)
Corporate of foreign included ¥176 billion and ¥168 billion of lease receivables that were receivables arising from direct financing leasing at March 31, 2024 and September 30, 2024, respectively.
Loans are generally carried at the principal amount adjusted for unearned income and deferred net nonrefundable loan fees and costs. The total amounts of unearned income and deferred net nonrefundable loan fees and costs were ¥268 billion and ¥257 billion at March 31, 2024 and September 30, 2024, respectively.
Total loans before allowance for credit losses on loans decreased by ¥1,342 billion from March 31, 2024 to ¥97,103 billion as of September 30, 2024.
Loans to domestic borrowers decreased by ¥922 billion from March 31, 2024 to ¥59,686 billion as of September 30, 2024 due mainly to decreases in loans to banks and other financial institutions, and housing loans.
Loans to foreign borrowers decreased by ¥419 billion from March 31, 2024 to ¥37,417 billion as of September 30, 2024 due mainly to a decrease in loans to corporate borrowers.
Within our loan portfolio, the proportion of loans to domestic borrowers against total loans decreased from 61.6% to 61.5%, while that of loans to foreign borrowers against total loans increased from 38.4% to 38.5%. Loans to foreign borrowers were regionally diversified.
 
15
Table of Contents
Nonaccrual Loans
Balance of nonaccrual loans
The following table shows our nonaccrual loans as of March 31, 2024 and September 30, 2024:
 
   
As of
    
Increase (decrease)
  
   
March 31, 2024
    
September 30, 2024
  
   
Nonaccrual

loans
    
Ratio to

total loans
    
Nonaccrual

loans
    
Ratio to

total loans
    
Nonaccrual

loans
    
Ratio to

total loans
  
                                     
   
(in billions of yen, except percentages)
  
Domestic:
            
Corporate:
            
Large companies
   ¥ 967       2.1 %    ¥ 873       1.9 %    ¥ (94 )      (0.2 )% 
Small and medium-sized companies
     97       4.0       86       3.7       (12 )      (0.3 ) 
Retail:
            
Housing loan
     35       0.5       32       0.5       (3 )      0.0  
Others
     49       3.5       47       3.5       (3 )      (0.1 ) 
 
 
 
      
 
 
      
 
 
    
Total domestic
     1,149       1.9       1,037       1.7       (111 )      (0.2 ) 
Foreign
     127       0.3       108       0.3       (19 )      0.0  
 
 
 
      
 
 
      
 
 
    
Total nonaccrual loans
   ¥ 1,276       1.3     ¥ 1,145       1.2     ¥ (131 )      (0.1 ) 
 
 
 
      
 
 
      
 
 
    
Total nonaccrual loans decreased by ¥131 billion, or 10.3%, from March 31, 2024 to ¥1,145 billion as of September 30, 2024. Nonaccrual loans to domestic borrowers decreased by ¥111 billion due mainly to a decrease in nonaccrual loans to large companies. Nonaccrual loans to foreign borrowers decreased by ¥19 billion. The relative impact of foreign currency fluctuations on such amount was immaterial.
Reflecting the aforementioned change, the percentage of nonaccrual loans within total loans decreased from 1.3% as of March 31, 2024 to 1.2% as of September 30, 2024. The percentage of nonaccrual loans net of allowance for credit losses on loans to total loans net of allowance for credit losses on loans decreased from 0.54% as of March 31, 2024 to 0.45% as of September 30, 2024 due to a larger percentage decrease in nonaccrual loans net of allowance for credit losses on loans than the percentage decrease in total loans net of allowance for credit losses on loans.
 
16
Table of Contents
Allowance for Credit Losses on Loans
Balance of allowance for credit losses on loans
The following table summarizes changes in our allowance for credit losses on loans in the six months ended September 30, 2023 and 2024:
 
    
Domestic
              
    
Corporate
    
Retail
    
Sovereign
     
Banks and
other financial
institutions
    
Foreign
(2)
    
Total
  
                                       
    
(in billions of yen)
  
Six months ended September 30, 2023
              
Balance at beginning of period
    ¥ 506     ¥ 64     ¥ —       ¥ 1     ¥ 131     ¥ 701  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Provision (credit) for credit losses on loans
      35       1       —         (1 )      (33 )      3  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Charge-offs
      (14 )      (2 )      —         —        (7 )      (24 ) 
Recoveries
      1       1       —         —        1       3  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Net charge-offs
      (13 )      (1 )      —         —        (6 )      (20 ) 
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Others
(1)
      —        —        —         —        47       47  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Balance at end of period
    ¥ 528     ¥ 63     ¥ —       ¥ —      ¥ 138     ¥ 730  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
    
Domestic
              
    
Corporate
    
Retail
    
Sovereign
     
Banks and
other financial
institutions
    
Foreign
(2)
    
Total
  
                                       
    
(in billions of yen)
  
Six months ended September 30, 2024
              
Balance at beginning of period
    ¥ 564     ¥ 56     ¥ —       ¥ —      ¥ 130     ¥ 750  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Provision (credit) for credit losses on loans
      (7 )      1       —         —        4       (2 ) 
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Charge-offs
      (11 )      (2 )      —         —        (12 )      (26 ) 
Recoveries
      7       1       —         —        1       8  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Net charge-offs
      (4 )      (2 )      —         —        (11 )      (18 ) 
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Others
(1)
      —        —        —         —        (15 )      (15 ) 
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Balance at end of period
    ¥ 553     ¥ 54     ¥ —       ¥ —      ¥ 108     ¥ 716  
  
 
 
    
 
 
    
 
 
     
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Others includes primarily foreign exchange translation.
(2)
The majority of total foreign consist of corporate.
Allowance for credit losses on loans decreased by ¥34 billion, or 4.6%, from March 31, 2024 to ¥716 billion as of September 30, 2024 due to charge-offs of loans to certain foreign borrowers and certain domestic corporate borrowers. As a result, the percentage of allowance for credit losses on loans against total loans decreased by 0.02 percentage points to 0.74%.
We recorded a credit for credit losses on loans of ¥2 billion in the six months ended September 30, 2024 compared to a provision for credit losses on loans of ¥3 billion in the six months ended September 30, 2023. The change was due mainly to a change from provision to credit for credit losses on loans to domestic corporate borrowers, resulting from a decrease in the balance of loans.
Charge-offs increased by ¥2 billion from the six months ended September 30, 2023 to ¥26 billion for the six months ended September 30, 2024.
 
17
Table of Contents
Investments
The majority of our investments are
available-for-sale
and
held-to-maturity
securities, which as of March 31, 2024 and September 30, 2024 were as follows:
 
   
As of
    
Increase (decrease)
  
   
March 31, 2024
    
September 30, 2024
  
   
Amortized

cost
    
Fair

value
    
Net

unrealized

gains

(losses)
    
Amortized

cost
    
Fair

value
    
Net

unrealized

gains

(losses)
    
Amortized

cost
    
Fair

value
    
Net

unrealized

gains

(losses)
  
                                                       
   
(in billions of yen)
  
Available-for-sale
securities:
                  
Debt securities:
                  
Japanese government bonds
   ¥ 10,968     ¥ 10,974     ¥ 6     ¥ 10,499     ¥ 10,495     ¥ (3 )    ¥ (470 )    ¥ (479 )    ¥ (10 ) 
Other than Japanese government bonds
     6,744       6,739       (5 )      7,050       7,039       (11 )      306       300       (6 ) 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
   ¥ 17,712     ¥ 17,713     ¥ 1     ¥ 17,548     ¥ 17,534     ¥ (14 )    ¥ (164 )    ¥ (180 )    ¥ (16 ) 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Held-to-maturity
securities:
                  
Debt securities:
                  
Japanese government bonds
   ¥ 519     ¥ 512     ¥ (7 )    ¥ 459     ¥ 451     ¥ (9 )    ¥ (60 )    ¥ (61 )    ¥ (1 ) 
Agency mortgage-backed securities
     3,528       3,351       (177 )      3,605       3,500       (105 )      77       149       73  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
   ¥ 4,048     ¥ 3,863     ¥ (185 )    ¥ 4,064     ¥ 3,951     ¥ (113 )    ¥ 17     ¥ 88     ¥ 71  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Available-for-sale
securities measured at fair value decreased by ¥180 billion from March 31, 2024 to ¥17,534 billion as of September 30, 2024.
Held-to-maturity
securities measured at amortized cost increased by ¥17 billion from March 31, 2024 to ¥4,064 billion as of September 30, 2024. See note 3 to our consolidated financial statements for details of other investments included within investments.
Trading Account Assets
Trading account assets increased by ¥1,060 billion from March 31, 2024 to ¥37,819 billion as of September 30, 2024. The increase was due mainly to our purchases of U.S. Treasury bonds and the reduction of unrealized losses on U.S. Treasury bonds in an environment of declining interest rates in the United States.
Liabilities
The following table shows our liabilities as of March 31, 2024 and September 30, 2024:
 
    
As of
    
Increase

(decrease)
  
    
March 31,

2024
    
September 30,

2024
  
                    
    
(in billions of yen)
  
Deposits
    ¥ 172,362     ¥ 168,990     ¥ (3,372 ) 
Due to trust accounts
      246        341        95  
Call money and funds purchased
      1,661       2,820       1,159  
Payables under repurchase agreements
      38,105       38,718       613  
Payables under securities lending transactions
      1,350       1,441       91  
Other short-term borrowings
      3,645       4,294       649  
Trading account liabilities
      20,621       19,684       (937 ) 
Bank acceptances outstanding
      438       373       (64 ) 
Income taxes payable
      88       169       81  
Deferred tax liabilities
      32       32       —   
Accrued expenses
      649       548       (101 ) 
Long-term debt
      16,277       16,236       (42 ) 
Other liabilities
      6,269       6,298       29  
  
 
 
    
 
 
    
 
 
  
Total liabilities
    ¥ 261,742     ¥ 259,942     ¥ (1,800 ) 
  
 
 
    
 
 
    
 
 
  
 
18
Table of Contents
Total liabilities decreased by ¥1,800 billion from March 31, 2024 to ¥259,942 billion as of September 30, 2024. The decrease was due primarily to a decrease of ¥3,372 billion in deposits, offset in part by an increase of ¥2,607 billion in short-term borrowings. We analyze short-term borrowings, consisting of due to trust accounts, call money and funds purchased, payables under repurchase agreements, payables under securities lending transactions and other short-term borrowings, on a combined basis.
Deposits
The following table shows a breakdown of our deposits as of March 31, 2024 and September 30, 2024:
 
    
As of
     
Increase

(decrease)
  
    
March 31,

2024
     
September 30,

2024
  
                      
    
(in billions of yen)
  
Domestic:
         
Noninterest-bearing deposits
    ¥ 33,555      ¥ 32,881      ¥ (674 ) 
Interest-bearing deposits
      95,039        92,539        (2,500 ) 
  
 
 
     
 
 
     
 
 
  
Total domestic deposits
      128,594        125,421        (3,174 ) 
  
 
 
     
 
 
     
 
 
  
Foreign:
         
Noninterest-bearing deposits
      3,360        2,715        (645 ) 
Interest-bearing deposits
      40,408        40,854        446  
  
 
 
     
 
 
     
 
 
  
Total foreign deposits
      43,768        43,569        (199 ) 
  
 
 
     
 
 
     
 
 
  
Total deposits
    ¥ 172,362      ¥ 168,990      ¥ (3,372 ) 
  
 
 
     
 
 
     
 
 
  
Total deposits decreased by ¥3,372 billion from March 31, 2024 to ¥168,990 billion as of September 30, 2024. Domestic deposits decreased by ¥3,174 billion from March 31, 2024 to ¥125,421 billion as of September 30, 2024. Domestic noninterest-bearing deposits decreased by ¥674 billion from March 31, 2024 to ¥32,881 billion as of September 30, 2024 due mainly to a decrease in current deposits, offset in part by an increase in other deposits. Domestic interest-bearing deposits decreased by ¥2,500 billion from March 31, 2024 to ¥92,539 billion as of September 30, 2024 due mainly to a decrease in ordinary deposits, offset in part by increases in negotiable certificates of deposit and time deposits. Foreign deposits decreased by ¥199 billion from March 31, 2024 to ¥43,569 billion as of September 30, 2024 due mainly to a decrease in current deposits, offset in part by an increase in ordinary deposits.
Short-term Borrowings
The following table shows a breakdown of our short-term borrowings as of March 31, 2024 and September 30, 2024:
 
   
As of
    
Increase (decrease)
  
   
March 31, 2024
    
September 30, 2024
  
   
Domestic
    
Foreign
    
Total
    
Domestic
    
Foreign
    
Total
    
Domestic
    
Foreign
    
Total
  
                                                       
   
(in billions of yen)
  
Due to trust accounts
   ¥ 246     ¥ —      ¥ 246     ¥ 341     ¥ —      ¥ 341     ¥ 95     ¥ —      ¥ 95  
Call money and funds purchased, and payables under repurchase agreements and securities lending transactions
     8,165       32,951       41,116       26,799       16,180       42,979       18,634       (16,772 )      1,863  
Other short-term borrowings
     2,189       1,456       3,645       2,828       1,466       4,294       639       10       649  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total short-term borrowings
   ¥ 10,599     ¥ 34,407     ¥ 45,007     ¥ 29,968     ¥ 17,645     ¥ 47,613     ¥ 19,369     ¥ (16,762 )    ¥ 2,607  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
19
Table of Contents
Total short-term borrowings increased by ¥2,607 billion from March 31, 2024 to ¥47,613 billion as of September 30, 2024. Domestic short-term borrowings increased by ¥19,369 billion due mainly to an increase in payables under repurchase agreements. Foreign short-term borrowings decreased by ¥16,762 billion due mainly to a decrease in payables under repurchase agreements.
Trading Account Liabilities
Trading account liabilities decreased by ¥937 billion from March 31, 2024 to ¥19,684 billion as of September 30, 2024. The decrease was due mainly to a decrease in securities sold for short sales related to hedging activities.
Equity
The following table shows a breakdown of equity as of March 31, 2024 and September 30, 2024:
 
    
As of
    
Increase

(decrease)
  
    
March 31,

2024
    
September 30,

2024
  
                    
    
(in billions of yen)
  
MHFG shareholders’ equity:
       
Common stock
    ¥ 5,834     ¥ 5,833     ¥ (1 ) 
Retained earnings
      3,120       3,544       424  
Accumulated other comprehensive income (loss), net of tax
      985       1,002       18  
Treasury stock, at cost
      (9 )      (10 )      —   
  
 
 
    
 
 
    
 
 
  
Total MHFG shareholders’ equity
      9,929       10,370       440  
Noncontrolling interests
      502       494       (8 ) 
  
 
 
    
 
 
    
 
 
  
Total equity
    ¥ 10,431     ¥ 10,864     ¥ 433  
  
 
 
    
 
 
    
 
 
  
Total equity increased by ¥433 billion from March 31, 2024 to ¥10,864 billion as of September 30, 2024 due mainly to an increase in retained earnings.
Retained earnings increased by ¥424 billion from March 31, 2024 to ¥3,544 billion as of September 30, 2024. The increase was due primarily to net income attributable to MHFG shareholders for the six months ended September 30, 2024 of ¥563 billion, offset in part by dividend payments of ¥140 billion.
Accumulated other comprehensive income, net of tax, increased by ¥18 billion from March 31, 2024 to ¥1,002 billion as of September 30, 2024. The increase was due primarily to foreign currency translation adjustments of ¥30 billion, offset in part by net unrealized losses on
available-for-sale
securities of ¥10 billion.
Noncontrolling interests decreased by ¥8 billion from March 31, 2024 to ¥494 billion as of September 30, 2024.
Liquidity
We continuously endeavor to enhance the management of our liquidity profile to meet our customers’ loan demand and deposit withdrawals and respond to unforeseen situations such as adverse movements in stock prices, foreign currency exchange rates, interest rates and other markets or changes in general domestic or international conditions. We manage our liquidity profile through the continuous monitoring of our cash flow situation, the enforcement of upper limits on funds raised in financial markets and other means as further set forth in “Item 11. Quantitative and Qualitative Disclosures about Credit, Market and Other Risk—Liquidity Risk Management” in our most recent Form
20-F.
 
20
Table of Contents
Deposits, based on our broad customer base and brand recognition in Japan, have been our primary source of liquidity. Our total deposits decreased by ¥3,372 billion, or 2.0%, from March 31, 2024 to ¥168,990 billion as of September 30, 2024.
Secondary sources of liquidity include short-term borrowings such as call money and funds purchased and payables under repurchase agreements. We also issue long-term debt, including both senior and subordinated debt, as additional sources for liquidity. We utilize short-term borrowings to diversify our funding sources and to manage our funding costs. We raise senior and subordinated long-term debt for the purpose of improving our total loss absorbing capacity and capital adequacy ratios, which also enhances our liquidity profile. We believe we are able to access such sources of liquidity on a stable and flexible basis based on our current credit ratings. The following table shows credit ratings assigned to us and to our principal banking subsidiaries by S&P and Moody’s as of November 30, 2024:
 
    
As of November 30, 2024
    
S&P
   
Moody’s
    
Long-term
   
Short-term
   
Long-term
   
Short-term
Mizuho Financial Group
    A-    —     A1   
P-1
Mizuho Bank
    A   
A-1
    A1   
P-1
Mizuho Trust & Banking
    A   
A-1
    A1   
P-1
We source our funding in foreign currencies primarily from corporate customers, foreign governments, financial institutions and institutional investors, through short-term and long-term financing, under terms and pricing commensurate with our credit ratings above, and customer deposits. In the event of future declines in our credit quality or that of Japan in general, we expect to be able to purchase foreign currencies in sufficient amounts using the yen funds raised through our domestic customer base. As further measures to support our foreign currency liquidity, we hold foreign debt securities and maintain credit lines and swap facilities denominated in foreign currencies.
In order to maintain appropriate funding liquidity, our principal banking subsidiaries hold highly liquid investment assets such as Japanese government bonds as liquidity reserve assets. We monitor the amount of liquidity reserve assets and report such amount to the Risk Management Committee, the Balance Sheet Management Committee and our President & Group CEO on a regular basis. Minimum regulatory reserve amounts, or the reserve amount deposited with the Bank of Japan pursuant to applicable regulations that is calculated as a specified percentage of the amount of deposits held by our principal banking subsidiaries, are excluded in connection with our management of liquidity reserve asset levels. We established and apply classifications for the cash flow conditions affecting the group, including the amount of liquidity reserve assets, that range from “Normal” to “Anxious” and “Crisis” categories, and take appropriate actions based on such conditions. As of September 30, 2024, the balance of Japanese government bonds included within our investments and measured at fair value was ¥10.5 trillion (excluding
held-to-maturity
securities), and a majority of this amount was classified as the principal component of liquidity reserve assets.
Under the regulatory liquidity requirements in Japan that consist of the liquidity coverage ratio (“LCR”) standard and the net stable funding ratio (“NSFR”) standard, the regulatory minimum requirements of LCR and NSFR are 100% on both a consolidated and
non-consolidated
basis for banks with international operations or on a consolidated basis for bank holding companies with international operations. Under the disclosure guidelines of the Financial Services Agency, banks and bank holding companies with international operations are required to disclose the three-month averages of daily LCR and to disclose NSFR on a quarterly basis. Set forth below are the averages of the daily end balances of consolidated LCR data of Mizuho Financial Group, and consolidated and
non-consolidated
LCR data of our principal banking subsidiaries, each for the three months ended September 30, 2024, and consolidated NSFR data of Mizuho Financial Group, and consolidated and
non-consolidated
NSFR data of our principal banking subsidiaries, each as of September 30, 2024. The figures are calculated based on our financial statements prepared in accordance with Japanese GAAP and the guidelines on LCR and NSFR established by the Financial Services Agency. All yen figures in this table are truncated.
 
21
Table of Contents
Liquidity Coverage Ratio (LCR)
 
    
For the three months

ended September 30, 2024
  
    
(in billions of yen,
except percentages)
  
Mizuho Financial Group (Consolidated)
   
Total high-quality liquid assets (“HQLA”) allowed to be included in the calculation (weighted)
    ¥ 85,792  
Net cash outflows (weighted)
      64,850  
LCR
      132.3 % 
Mizuho Bank (Consolidated)
   
Total HQLA allowed to be included in the calculation (weighted)
    ¥ 81,543  
Net cash outflows (weighted)
       62,216  
LCR
      131.0 % 
Mizuho Bank
(Non-consolidated)
   
Total HQLA allowed to be included in the calculation (weighted)
    ¥ 80,155  
Net cash outflows (weighted)
      60,301  
LCR
      132.9 % 
Mizuho Trust and Banking (Consolidated)
   
Total HQLA allowed to be included in the calculation (weighted)
    ¥ 1,853  
Net cash outflows (weighted)
      963  
LCR
      192.9 % 
Mizuho Trust and Banking
(Non-consolidated)
   
Total HQLA allowed to be included in the calculation (weighted)
    ¥ 1,780  
Net cash outflows (weighted)
      860  
LCR
      207.7 % 
Net Stable Funding Ratio (NSFR)
 
    
As of September 30, 2024
  
    
(in billions of yen,
except percentages)
  
Mizuho Financial Group (Consolidated)
   
Available stable funding (weighted)
    ¥ 113,188  
Required stable funding (weighted)
      95,625  
NSFR
      118.3 % 
Mizuho Bank (Consolidated)
   
Available stable funding (weighted)
    ¥ 107,766  
Required stable funding (weighted)
      89,705  
NSFR
      120.1 % 
Mizuho Bank
(Non-consolidated)
   
Available stable funding (weighted)
    ¥ 103,793  
Required stable funding (weighted)
      85,271  
NSFR
      121.7 % 
Mizuho Trust and Banking (Consolidated)
   
Available stable funding (weighted)
    ¥ 3,515  
Required stable funding (weighted)
      2,801  
NSFR
      125.4 % 
Mizuho Trust and Banking
(Non-consolidated)
   
Available stable funding (weighted)
    ¥ 3,440  
Required stable funding (weighted)
      2,724  
NSFR
      126.2 % 
 
22
Table of Contents
For more information on LCR and NSFR, see “Item 4. Information on the Company—Supervision and Regulation—Liquidity” in our most recent Form
20-F.
Off-balance-sheet
Arrangements
See note 14 and note 15 to our consolidated financial statements included elsewhere in this report.
Capital Adequacy
All yen figures and percentages in this subsection are truncated. Accordingly, the total of each column of figures may not be equal to the total of the individual items.
Regulatory Capital Requirements
The capital adequacy guidelines applicable to Japanese banks and bank holding companies each with international operations supervised by the Financial Services Agency, including us, require them to measure and apply capital charges with respect to their credit risk, market risk and operational risk.
Under the guidelines, banks and bank holding companies have several choices for the methodologies to calculate their capital requirements for credit risk and market risk, and under the finalized Basel III reforms, the standardized approaches and the advanced measurement approaches for operational risk are replaced with a single revised standardized approach to be used by all banks. We started to adopt the advanced internal ratings-based approach for the calculation of credit risk on March 31, 2009, and have adopted the advanced internal ratings-based approach which was revised under the Basel III finalization framework since March 31, 2024. The Basel III finalization framework has applied to us on a transitional basis from March 31, 2024, including the revisions to the capital floor which were phased in from March 31, 2024, with an initial capital floor of 50%. For the calculation of market risk and operational risk, we had adopted the advanced measurement approach and the internal model approach, respectively, until March 30, 2024, and have adopted the standardized approach for the calculation of both risks since March 31, 2024.
As a bank and bank holding company with international operations, Mizuho Bank and Mizuho Trust & Banking are required to have a minimum Common Equity Tier 1 ratio of 4.5%, Tier 1 capital ratio of 6.0%, and total capital ratio of 8.0% on both a consolidated and
non-consolidated
basis, and Mizuho Financial Group is required to have the same minimum Common Equity Tier 1 ratio, Tier 1 capital ratio, and total capital ratio on a consolidated basis.
In addition, we are also subject to capital conservation buffers and countercyclical buffers, and Mizuho Financial Group is also subject to additional loss absorbency requirements for a global systemically important bank
(“G-SIB”)
and domestic systemically important bank
(“D-SIB”).
These buffer requirements must be met with Common Equity Tier 1 capital. The capital conservation buffer and the additional loss absorbency requirements currently applicable to us are 2.5% and 1.0%, respectively. The countercyclical buffer is a weighted average of the buffers deployed across all the jurisdictions to which the banking organization has credit exposures, which, ranging from 0% to 2.5%, would be imposed on banking organizations, subject to national discretion by the respective regulatory authorities. See “Item 4.B. Information on the Company—Business Overview—Supervision and Regulation—Japan—Capital Adequacy” in our most recent Form
20-F.
We are required to maintain a minimum leverage ratio of 3.15% from April 1, 2024, which ratio had been 3.0% until March 31, 2024. In addition, Mizuho Financial Group is subject to the leverage ratio buffer requirement for
G-SIBs
of 0.55% from April 1, 2024, which had been 0.5% until March 31, 2024, and thus the minimum leverage ratio requirement together with the minimum leverage ratio buffer requirement applicable to Mizuho Financial Group from April 1, 2024 is 3.70% in total. The leverage ratio is a measure of
non-risk
based capital adequacy that is calculated by dividing Tier 1 capital (as numerator) by the total exposure (denominator), with adjustments made to
on-
and
off-balance
assets. See “Item 4.B. Information on the Company—Business Overview—Supervision and Regulation—Japan—Leverage Ratio” in our most recent Form
20-F.
 
23
Table of Contents
Under Total Loss Absorbing Capacity (“TLAC”) regulations, Mizuho Financial Group is required to meet minimum TLAC requirements of at least 18% of the resolution group’s risk-weighted assets and at least 7.10% from April 1, 2024, which had been 6.75% until March 31, 2024, of its total exposure. Japanese
G-SIBs
are allowed to count the Japanese Deposit Insurance Fund Reserves in an amount equivalent to 3.5% of their consolidated risk-weighted assets as their external TLAC. See “Item 4.B. Information on the Company— Business Overview—Supervision and Regulation—Japan—Total Loss Absorbing Capacity” in our most recent Form
20-F.
Consolidated Capital Adequacy Ratios, Leverage Ratios and TLAC Ratios
Our consolidated capital adequacy ratios, leverage ratios and TLAC ratios as of March 31 and September 30, 2024, calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency, were as set forth in the following table:
 
   
As of
    
Increase

(decrease)
  
   
March 31,

2024
    
September 30,

2024
  
                   
   
(in billions of yen, except percentages)
  
Common Equity Tier 1 (CET1) capital
   ¥ 9,259.9     ¥ 9,554.7     ¥ 294.8  
Additional Tier 1 capital
     1,541.8       1,871.1       329.3  
 
 
 
    
 
 
    
 
 
  
Tier 1 capital
     10,801.8       11,425.8       624.0  
Tier 2 capital
     1,512.7       1,587.4       74.7  
 
 
 
    
 
 
    
 
 
  
Total capital
   ¥ 12,314.6     ¥ 13,013.2     ¥ 698.6  
 
 
 
    
 
 
    
 
 
  
Risk-weighted assets
   ¥ 72,720.2     ¥ 69,760.2     ¥ (2,960.0 ) 
CET1 capital ratio
     12.73 %      13.69 %      0.96 % 
Required CET1 capital ratio
(1)
     8.09 %      8.12 %      0.03 % 
Tier 1 capital ratio
     14.85 %      16.37 %      1.52 % 
Required Tier 1 capital ratio
(1)
     9.59 %      9.62 %      0.03 % 
Total capital ratio
     16.93 %      18.65 %      1.72 % 
Required total capital ratio
(1)
     11.59 %      11.62 %      0.03 % 
CET1 available after meeting the bank’s minimum capital requirements
     8.23 %      9.19 %      0.96 % 
Total Exposure
(2)
   ¥ 229,376.8     ¥ 227,154.7     ¥ (2,222.1 ) 
Leverage ratio
(3)
     4.70 %      5.02 %      0.32 % 
External TLAC ratio (risk-weighted assets basis, excluding capital buffers)
     25.35 %      27.38 %      2.03 % 
External TLAC ratio (total exposure basis, including capital buffers)
(4)
     9.17 %      9.52 %      0.35 % 
 
Notes:
(1)
The required ratios described above, as of March 31 and September 30, 2024, include the capital conservation buffer of 2.5%, the countercyclical capital buffer of 0.09% and 0.12%, respectively, and the additional loss absorbency requirements for
G-SIBs
and
D-SIBs
of 1.00%, which are all in addition to the regulatory minima. The respective required amounts are determined by applying the ratios to the sum of the risk-weighted assets. These buffers and additional loss absorbency requirements are applied to us but not to our banking subsidiaries.
(2)
As of March 31 and September 30, 2024, our total exposures (excluding the impact of any applicable exemption of deposits with the Bank of Japan) were ¥287,489.9 billion and ¥285,268.8 billion, respectively.
(3)
As of March 31 and September 30, 2024, our leverage ratios on a consolidated basis (excluding the impact of any applicable exemption of deposits with the Bank of Japan) were 3.75% and 4.00%, respectively.
(4)
As of March 31 and September 30, 2024, our external TLAC ratios on a total exposure basis (excluding the impact of any applicable exemption of deposits with the Bank of Japan) were 7.32% and 7.58%, respectively.
Our total capital ratio as of September 30, 2024 was 18.65%, an increase of 1.72% compared to March 31, 2024. Our Tier 1 capital ratio as of September 30, 2024 was 16.37%, an increase of 1.52% compared to
 
24
Table of Contents
March 31, 2024. Our CET1 capital ratio as of September 30, 2024 was 13.69%, an increase of 0.96% compared to March 31, 2024. The increase in our CET1 capital ratio, Tier 1 capital ratio and total capital ratio were due mainly to a decrease in the risk weighted assets. We believe that we were in compliance with all capital adequacy requirements to which we were subject as of September 30, 2024.
Principal Banking Subsidiaries
Capital adequacy ratios and leverage ratios of our principal banking subsidiaries, on a consolidated basis, as of March 31 and September 30, 2024, calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency, were as set forth in the following table:
 
    
As of
    
Increase

(decrease)
  
    
March 31,

2024
    
September 30,

2024
  
Mizuho Bank
       
Common Equity Tier 1 capital ratio
      11.26 %      12.35 %      1.09 % 
Tier 1 capital ratio
      13.60 %      15.30 %      1.70 % 
Total capital ratio
      15.76 %      17.71 %      1.95 % 
Leverage ratio
      4.21 %      4.64 %      0.43 % 
Mizuho Trust & Banking
       
Common Equity Tier 1 capital ratio
      28.98 %      31.71 %         2.73 % 
Tier 1 capital ratio
      28.98 %      31.71 %      2.73 % 
Total capital ratio
           28.99 %      31.72 %      2.73 % 
Leverage ratio
      11.62 %          12.65 %      1.03 % 
We believe each of our principal banking subsidiaries was in compliance with all capital adequacy requirements to which it was subject as of September 30, 2024.
Our securities subsidiary in Japan is also subject to the capital adequacy requirement under the Financial Instruments and Exchange Act. Under this requirement, securities firms whose total assets exceed ¥1 trillion, such as Mizuho Securities, must maintain a minimum capital adequacy ratio of 120% both on a consolidated and
non-consolidated
basis calculated as a percentage of capital accounts less certain assets, as determined in accordance with Japanese GAAP, against amounts equivalent to market, counterparty and basic risks. Specific guidelines are issued as a ministerial ordinance and a regulatory notice that detail the definition of essential components of the capital ratios, including capital, disallowed assets and risks, and related measures. Failure to maintain a minimum capital ratio will trigger mandatory regulatory actions. For example, each on a
non-consolidated
basis, a capital ratio of less than 140% will call for regulatory reporting, a capital ratio of less than 120% may lead to an order to change the business conduct or place the property in trust and a capital ratio of less than 100% may lead to a temporary suspension of all or part of the business operations and further, to the cancellation of the license to act as a securities broker and dealer. We believe, as of September 30, 2024, that our securities subsidiary in Japan was in compliance with all capital adequacy requirements to which it was subject.
 
25
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)


 
  
March 31,

   2024   
 
 
September 30,

   2024   
 
 
 
 
 
 
 
  
(in millions of yen)
 
Assets:
  
 
Cash and due from banks
      2,046,324       2,190,690  
Interest-bearing deposits in other banks
      72,066,719       70,483,229  
Call loans and funds sold
      1,392,098       1,243,380  
Receivables under resale agreements
      20,534,728       22,658,874  
Receivables under securities borrowing transactions
      2,351,784       2,176,330  
Trading account assets (including assets pledged that secured parties are permitted to sell or repledge of ¥11,722,063 million at March 31, 2024 and ¥14,973,316 million at September 30, 2024)
      36,759,812       37,819,313  
Investments (Note 3):
     
Available-for-sale
securities (including assets pledged that secured parties are permitted to sell or repledge of ¥2,692,031 million at March 31, 2024 and ¥1,493,506 million at September 30, 2024), net of allowance
      17,713,335       17,533,830  
Held-to-maturity
securities (including assets pledged that secured parties are permitted to sell or repledge of ¥3,767,997 million at March 31, 2024 and ¥3,941,003 million at September 30, 2024)
      4,047,547       4,064,370  
Equity securities
      5,152,893       4,470,908  
Other investments
      884,496       960,427  
Loans (Notes 4 and 5)
      98,444,745       97,102,970  
Allowance for credit losses on loans
      (750,071 )      (715,747 )
 
  
 
 
    
 
 
  
Loans, net of allowance
      97,694,674       96,387,223  
Premises and
equipment-net
      1,714,485       1,743,562  
Due from customers on acceptances
      437,529       373,318  
Accrued income
      691,529       666,655  
Goodwill
      164,458       160,640  
Intangible assets
      44,984       39,582  
Deferred tax assets
      195,606       170,975  
Other assets (Note 6)
      8,280,151       7,662,932  
  
 
 
    
 
 
  
Total assets
      272,173,152       270,806,238  
  
 
 
    
 
 
  
The following table presents the assets of consolidated variable interest entities (“VIE”s), which are included in the consolidated balance sheets above. The assets in the table below can be used only to settle obligations of consolidated VIEs.

 
  
March 31,

   2024   
 
 
September 30,

   2024   
 
 
 
 
 
 
 
  
(in millions of yen)
 
Assets of consolidated VIEs:
     
Cash and due from banks
      6,989       4,563  
Interest-bearing deposits in other banks
      139,150       94,967  
Call loans and funds sold
      132,212       121,755  
Trading account assets
      2,450,810       2,318,147  
Investments
      241,303       227,299  
Loans, net of allowance
      9,136,505       8,486,127  
All other assets
      524,395       499,114  
  
 
 
    
 
 
  
Total assets
       12,631,365        11,751,972  
  
 
 
    
 
 
  
 
See the accompanying Notes to the Consolidated Financial Statements
 
F-1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)—(Continued)


 
  
March 31,

   2024   
 
 
September 30,

   2024   
 
 
 
 
 
 
 
  
(in millions of yen)
 
Liabilities and equity:
     
Deposits:
     
Domestic:
     
Noninterest-bearing deposits
      33,554,817       32,881,309  
Interest-bearing deposits
      95,039,351       92,539,349  
Foreign:
     
Noninterest-bearing deposits
      3,359,545       2,714,703  
Interest-bearing deposits
      40,408,034       40,854,325  
Due to trust accounts
      245,611       340,922  
Call money and funds purchased
      1,660,682       2,819,989  
Payables under repurchase agreements (Note 19)
      38,104,868       38,717,817  
Payables under securities lending transactions (Note 19)
      1,350,435       1,441,083  
Other short-term borrowings (including liabilities accounted for at fair value of ¥153,044
million at March 31, 2024 and ¥331,911 million at September 30, 2024) (Note 17)
      3,644,912       4,293,643  
Trading account liabilities
      20,621,160       19,684,194  
Bank acceptances outstanding
      437,529       373,318  
Income taxes payable
      87,994       169,058  
Deferred tax liabilities
      31,685       31,509  
Accrued expenses
      649,010       547,542  
Long-term debt (including liabilities accounted for at fair value of ¥2,876,287 million at March 31, 2024 and ¥3,594,809 million at September 30, 2024) (Note 17)
      16,277,331       16,235,764  
Other liabilities (Note 6)
      6,268,999       6,297,911  
  
 
 
    
 
 
  
Total liabilities
      261,741,965       259,942,433  
  
 
 
    
 
 
  
Commitments and contingencies (Note 14)
     
Equity:
     
MHFG shareholders’ equity:
     
Common stock (Note
7)-no
par value, authorized 4,800,000,000 shares, and issued 2,539,249,894 shares at March 31, 2024 and September 30, 2024
      5,833,660       5,833,124  
Retained earnings
      3,120,236       3,543,801  
Accumulated other comprehensive income (loss), net of tax (Note 8)
      984,578       1,002,164  
Less: Treasury stock, at cost-Common stock 4,739,805 shares at March 31, 2024, and 4,291,043 shares at September 30, 2024
      (9,403 )      (9,540 )
 
  
 
 
    
 
 
  
Total MHFG shareholders’ equity
      9,929,071       10,369,549  
Noncontrolling interests
      502,116       494,256  
  
 
 
    
 
 
  
Total equity
      10,431,187       10,863,804  
  
 
 
    
 
 
  
Total liabilities and equity
      272,173,152       270,806,238  
  
 
 
    
 
 
  
The following table presents the liabilities of consolidated VIEs, which are included in the consolidated balance sheets above. The creditors or investors of the consolidated VIEs have no recourse to the MHFG Group, except where the Group provides credit enhancement through guarantees or other means.

 
  
March 31,

   2024   
 
  
September 30,

   2024   
 
 
 
 
 
 
 
  
(in millions of yen)
 
Liabilities of consolidated VIEs:
      
Payables under securities lending transactions
      44,013        78,712  
Other short-term borrowings
      247,180        474,424
 
Trading account liabilities
      37,147        22,026  
Long-term debt
      1,465,149        1,701,007  
All other liabilities
      1,069,472        1,034,913  
  
 
 
     
 
 
  
Total liabilities
        2,862,962        3,311,082  
  
 
 
     
 
 
  
See the accompanying Notes to the Consolidated Financial Statements.
 
F-2
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
 
    
 Six months ended September 30, 
  
    
   2023   
    
   2024   
  
         
    
(in millions of yen)
  
Interest and dividend income:
     
Loans, including fees
      1,440,256       1,538,327  
Investments:
     
Interest
      74,857       174,608  
Dividends
      54,359       59,321  
Trading account assets
      336,858       412,287  
Call loans and funds sold
      17,084       13,341  
Receivables under resale agreements and securities borrowing transactions
      308,485       467,838  
Deposits in other banks
      484,683       503,210  
  
 
 
    
 
 
  
Total interest and dividend income
      2,716,582       3,168,932  
  
 
 
    
 
 
  
Interest expense:
     
Deposits
      1,029,823       1,154,538  
Trading account liabilities
      84,881       114,152  
Call money and funds purchased
      13,046       7,226  
Payables under repurchase agreements and securities lending transactions
      730,675       1,057,333  
Other short-term borrowings
      42,473       66,956  
Long-term debt
      179,703       178,302  
  
 
 
    
 
 
  
Total interest expense
      2,080,600       2,578,506  
  
 
 
    
 
 
  
Net interest income
      635,982       590,426  
Provision (credit) for credit losses (Notes 3 and 5)
      (2,484 )      (1,505 ) 
  
 
 
    
 
 
  
Net interest income after provision (credit) for credit losses
      638,466       591,931  
  
 
 
    
 
 
  
Noninterest income (Note 16):
     
Fee and commission income
      523,998       572,869  
Foreign exchange gains
(losses)-net
      22,548       (120,497 ) 
Trading account gains
(losses)-net
      (257,638 )      801,981  
Investment gains
(losses)-net:
     
Debt securities
      4,403       12,139  
Equity securities
      490,375       (133,889 ) 
Equity in earnings (losses) of equity method
investees-net
      46,741       9,086  
Gains on disposal of premises and equipment
      8,261       72,346  
Other noninterest income
      152,903       123,285  
  
 
 
    
 
 
  
Total noninterest income
      991,591       1,337,318  
  
 
 
    
 
 
  
Noninterest expenses:
     
Salaries and employee benefits
      370,573       430,166  
General and administrative expenses
      346,743       400,866  
Occupancy expenses
      81,136       84,747  
Fee and commission expenses
      119,116       134,029  
Provision (credit) for credit losses on
off-balance-sheet
instruments
      7,398       (16,777 ) 
Other noninterest expenses
      114,269       119,599  
  
 
 
    
 
 
  
Total noninterest expenses
      1,039,235       1,152,631  
  
 
 
    
 
 
  
Income before income tax expense
      590,822       776,618  
Income tax expense (Note 11)
      178,289       228,475  
  
 
 
    
 
 
  
Net income
      412,532       548,143  
Less: Net income (loss) attributable to noncontrolling interests
      105,520       (15,033 ) 
  
 
 
    
 
 
  
Net income attributable to MHFG shareholders
      307,013       563,176  
  
 
 
    
 
 
  
    
(in yen)
  
Earnings per common share (Note 10):
   
Basic net income per common share
      121.06       222.07  
  
 
 
    
 
 
  
Diluted net income per common share
      121.04       222.03  
  
 
 
    
 
 
  
Dividends per common share
      50.00       65.00  
  
 
 
    
 
 
  
See the accompanying Notes to the Consolidated Financial Statements.
 
F-3
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

    
Six months ended September 30,
  
    
   2023   
     
   2024   
  
         
         
    
(in millions of yen)
  
Net income
(Note)
      412,532        548,143  
Other comprehensive income (loss), net of tax
      217,532        18,873  
  
 
 
     
 
 
  
Total comprehensive income
     630,065        567,016  
Less: Total comprehensive income (loss) attributable to noncontrolling interests
      106,744        (13,745 ) 
  
 
 
     
 
 
  
Total comprehensive income attributable to MHFG shareholders
      523,321        580,761  
  
 
 
     
 
 
  
 
Note:
The amounts that have been reclassified out of Accumulated other comprehensive income (loss), net of tax into net income are presented in Note 8 “Accumulated other comprehensive income (loss), net of tax.”
See the accompanying Notes to the Consolidated Financial Statements.
 
F-4
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY (Unaudited)
 
    
 Six months ended September 30, 
  
    
   2023   
    
   2024   
  
         
    
(in millions of yen)
  
Common stock:
     
Balance at beginning of period
      5,832,729       5,833,660  
Performance-based stock compensation program
      (215 )      (537 ) 
Other
      (80 )      1  
  
 
 
    
 
 
  
Balance at end of period
      5,832,435       5,833,124  
  
 
 
    
 
 
  
Retained earnings:
     
Balance at beginning of period
      2,442,153       3,120,236  
Net income attributable to MHFG shareholders
      307,013       563,176  
Dividends declared
      (107,883 )      (139,610 ) 
Other
      381       —   
  
 
 
    
 
 
  
Balance at end of period
      2,641,663       3,543,801  
  
 
 
    
 
 
  
Accumulated other comprehensive income (loss), net of tax (Note 8)
(Note)
:
           
Balance at beginning of period
      649,395       984,578  
Change during period
      216,308       17,586  
  
 
 
    
 
 
  
Balance at end of period
      865,702       1,002,164  
  
 
 
    
 
 
  
Treasury stock, at cost:
     
Balance at beginning of period
      (8,786 )      (9,403 ) 
Purchases of treasury stock
      (2,360 )      (2,773 ) 
Disposal of treasury stock
      2,707       2,636  
  
 
 
    
 
 
  
Balance at end of period
      (8,440 )      (9,540 ) 
  
 
 
    
 
 
  
Total MHFG shareholders’ equity
      9,331,361       10,369,549  
  
 
 
    
 
 
  
Noncontrolling interests:
     
Balance at beginning of period
      809,643       502,116  
Transactions between the MHFG Group and the noncontrolling interest shareholders
      (11,493 )      11,892  
Dividends paid to noncontrolling interests
      (11,483 )      (6,008 ) 
Net income (loss) attributable to noncontrolling interests
      105,520       (15,033 ) 
Other
      1,224       1,288  
  
 
 
    
 
 
  
Balance at end of period
      893,411       494,256  
  
 
 
    
 
 
  
Total equity
      10,224,772       10,863,804  
  
 
 
    
 
 
  
 
Note:
The amounts that have been reclassified out of Accumulated other comprehensive income (loss), net of tax into net income are presented in Note 8 “Accumulated other comprehensive income (loss), net of tax.”
See the accompanying Notes to the Consolidated Financial Statements.
 
F-5
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
 
    
 Six months ended September 30, 
  
    
   2023   
    
   2024   
  
         
    
(in millions of yen)
  
Cash flows from operating activities:
     
Net income
     412,532       548,143  
Less: Net income (loss) attributable to noncontrolling interests
      105,520       (15,033 ) 
  
 
 
    
 
 
  
Net income attributable to MHFG shareholders
      307,013       563,176  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
     
Depreciation and amortization
      103,413       113,666  
Provision (credit) for credit losses
      (2,484 )      (1,505 ) 
Investment losses
(gains)-net
      (494,778 )      121,751  
Equity in losses (earnings) of equity method
investees-net
      (46,741 )      (9,086 ) 
Foreign exchange losses
(gains)-net
      599,299       (138,289 ) 
Deferred income tax expense
      54,427       28,554  
Net change in trading account assets
      (9,320,622 )      (2,227,916 ) 
Net change in trading account liabilities
      6,268,701       (782,956 ) 
Net change in loans held for sale
      62,849       (349,285 ) 
Net change in accrued income
      (86,063 )      17,426  
Net change in accrued expenses
      40,257       (4,560 ) 
Other-net
      480,177       1,116,447  
  
 
 
    
 
 
  
Net cash used in operating activities
      (2,034,549 )      (1,552,577 ) 
  
 
 
    
 
 
  
Cash flows from investing activities:
     
Proceeds from sales of
Available-for-sale
securities
      15,907,621       17,329,169  
Proceeds from sales of Equity securities
(1)
      1,482,904       1,903,886  
Proceeds from maturities of
Available-for-sale
securities
      18,635,847       10,162,422  
Proceeds from maturities of
Held-to-maturity
securities
      286,594       305,114  
Purchases of
Available-for-sale
securities
      (37,609,753 )      (26,222,916 ) 
Purchases of
Held-to-maturity
securities
      (988,261 )      (584,042 ) 
Purchases of Equity securities
(1)
      (1,832,574 )      (1,442,607 ) 
Proceeds from sales of loans
      308,035       392,461  
Net change in loans
      (422,364 )      (47,554 ) 
Net change in call loans and funds sold, and receivables under resale agreements and securities borrowing transactions
      (1,778,011 )      (2,347,575 ) 
Proceeds from sales of premises and equipment
      9,825       86,513  
Purchases of premises and equipment
      (100,783 )      (148,496 ) 
Proceeds from sales of investments in subsidiaries (affecting the scope of consolidation)
      —        2,970  
Purchases of investments in subsidiaries (affecting the scope of consolidation)
      (16,320 )      —   
  
 
 
    
 
 
  
Net cash used in investing activities
      (6,117,242 )      (610,656 ) 
  
 
 
    
 
 
  
Cash flows from financing activities:
     
Net change in deposits
      (3,204,702 )      (2,301,534 ) 
Net change in call money and funds purchased, and payables under repurchase agreements and securities lending transactions
      4,961,440       2,524,298  
Net change in due to trust accounts
      (420,865 )      95,310  
Net change in other short-term borrowings
      (105 )      734,376  
Proceeds from issuance of long-term debt
      1,718,468       1,739,534  
Repayment of long-term debt
      (1,681,532 )      (1,372,648 ) 
Proceeds from noncontrolling interests
      27,973       14,984  
Payments to noncontrolling interests
      (41,473 )      (544 ) 
Proceeds from sales of treasury stock
      2,707       2,637  
Purchases of treasury stock
      (2,360 )      (2,773 ) 
Dividends paid
      (107,843 )      (139,510 ) 
Dividends paid to noncontrolling interests
      (11,483 )      (6,008 ) 
  
 
 
    
 
 
  
Net cash provided by financing activities
      1,240,224       1,288,121  
  
 
 
    
 
 
  
Effect of exchange rate changes on cash and cash equivalents
      1,653,638       (564,012 ) 
  
 
 
    
 
 
  
Net decrease in cash and cash equivalents
(2)
      (5,257,929 )      (1,439,124 ) 
Cash and cash equivalents at beginning of period
(2)
      67,992,295       74,113,043  
  
 
 
    
 
 
  
Cash and cash equivalents at end of period
(2)
      62,734,366       72,673,919  
  
 
 
    
 
 
  
Supplemental disclosure of cash flow information:
     
Noncash investing activities:
     
Transfer of loans into loans
held-for-sale
      1,621       34,936  
  
 
 
    
 
 
  
 
Notes:
(1)
Proceeds from sales of Equity securities as well as Purchases of Equity securities include cash activity related to Other investments, the amounts of which are not significant.
(2)
Cash and cash equivalents consists of Cash and due from banks and Interest-bearing deposits in other banks. Cash deposited with central banks that must be maintained to meet minimum regulatory requirements is classified as restricted cash and included in Cash and cash equivalents.
See the accompanying Notes to the Consolidated Financial Statements.
 
F-6
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
1. Basis of presentation
Mizuho Financial Group, Inc. (“MHFG”) is a joint stock corporation with limited liability under the laws of Japan. MHFG is a holding company for Mizuho Bank, Ltd. (“MHBK”), Mizuho Trust & Banking Co., Ltd. (“MHTB”), Mizuho Securities Co., Ltd. (“MHSC”), Asset Management One Co., Ltd. (“Asset Management One”), and other subsidiaries. MHFG, through its subsidiaries (“the MHFG Group,” or “the Group”), provides domestic and international financial services in Japan and other countries. For a discussion of the Group’s segment information, see Note 20 “Business segment information.”
MHFG and its domestic subsidiaries as well as its foreign subsidiaries maintain their accounting records in accordance with the accounting standards of Japan and those standards of the countries in which they are domiciled. Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform them to the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are stated in Japanese yen, the currency of the country in which MHFG is incorporated and principally operates.
The accompanying consolidated financial statements include the accounts of MHFG and its subsidiaries. MHFG’s interim financial reporting period ends on September 30. Certain of MHFG’s subsidiaries have different interim financial reporting periods than September 30. For those subsidiaries with interim financial reporting periods within three months of MHFG’s interim financial reporting period, the effect of intervening events that materially affect the financial position or results of operations through the date of each of the periods presented in the MHFG’s consolidated financial statements have been considered for adjustment and/or disclosure. When determining whether to consolidate investee entities, the MHFG Group performs an analysis of the facts and circumstances of the particular relationships between the MHFG Group and the investee entities as well as the ownership of voting shares. The consolidated financial statements also include the accounts of VIEs for which MHFG or its subsidiaries have been determined to be the primary beneficiary in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, “Consolidation” (“ASC 810”). All significant intercompany transactions and balances have been eliminated upon consolidation. The MHFG Group accounts for investments in entities over which it has significant influence by using the equity method of accounting. These investments are included in Other investments and the Group’s proportionate share of income or loss is included in Equity in earnings (losses) of equity method
investees-net.
Certain comparative amounts for the prior period have been reclassified in order to conform to the current period’s presentation.
The unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the MHFG Group’s most recent annual report on Form
20-F
for the fiscal year ended March 31, 2024.
Certain financial information that is normally included in annual financial statements prepared in accordance with U.S. GAAP, but is not required for interim reporting purposes, has been condensed or omitted.
The financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods.
Use of estimates
The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and related disclosures. Specific areas, among
 
F-7
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
others, requiring the application of management’s estimates and judgment include assumptions pertaining to the allowance for credit losses, valuation of loans
held-for-sale,
valuation of deferred tax assets, valuation of derivative financial instruments, valuation of investments, valuation of certain other short-term borrowings and long-term debt where the fair value option has been elected, valuation of pension and other employee benefits, and impairment of long-lived assets. During times of geopolitical unrest, such as the Russia-Ukraine situation and economic uncertainty, estimates become more sensitive and it is reasonably possible that actual results could differ from estimates and assumptions made.
Financial instruments—current expected credit losses (“CECL”)
CECL established a single allowance framework for all financial assets measured at amortized cost and certain
off-balance-sheet
instrument exposures. This framework requires management’s estimate to reflect credit losses over the instrument’s remaining expected life and consider expected future changes in macroeconomic conditions. ASC 326, “Financial Instruments—Credit Losses” (“ASC 326”) reflects expected credit losses and requires consideration of a broader range of information such as relevant information about past events including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount, for the purpose of informing credit loss estimates. ASC 326 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The income statement reflects the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. ASC 326 also requires that credit losses on
available-for-sale
debt securities be presented as an allowance for credit losses rather than as a write-down and limits the amount of the allowance for credit losses to the amount by which fair value is below amortized cost. Per the accounting policy election, the MHFG Group does not record expected credit losses for accrued interest receivables because uncollectible accrued interest is reversed through interest income in a timely manner in line with the Group’s nonaccrual and past due policies. The amount of accrued interest receivable reversed through interest income was not significant for March 31, 2024 and September 30, 2024.
Allowance and provision (credit) for credit losses on loans
Each reporting period, the MHFG Group makes adjustments to the allowance for credit losses on loans through Provision (credit) for credit losses in the consolidated statements of income. Loan principal that management judges to be uncollectible, based on detailed loan reviews and a credit quality assessment, is charged off against the allowance for credit losses on loans. In general, the Group charges off loans when the Group determines that the obligor should be classified as substantially bankrupt or bankrupt. See Note 4 “Loans” for the definitions of obligor categories. Obligors in the retail portfolio segment are generally determined to be substantially bankrupt when they are past due for more than six months, and as for obligors in the corporate portfolio segment, the Group separately monitors the credit quality of each obligor without using time-based triggers.
The MHFG Group maintains an appropriate allowance for credit losses on loans to represent management’s estimate of the expected credit losses in the Group’s loan portfolio. Management evaluates the appropriateness of the allowance for credit losses on loans semi-annually. The allowance considers expected credit losses over the remaining expected lives of the applicable instruments. The expected life of each instrument is determined by considering expected prepayments, contractual terms and cancellation features. The allowance for credit losses involves significant judgments on a number of matters including expectations of future economic conditions, assignment of obligor ratings, valuation of collateral, and the development of qualitative adjustments.
 
F-8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
When determining expected credit losses, a single forward-looking macroeconomic scenario is considered over a reasonable and supportable forecast period. This forward-looking macroeconomic scenario is in line with the scenario used for the Group’s business plan. If the scenarios are not reflective of management’s expectations, adjustments may be made to the scenarios. After the forecast period, the Group reverts to long-term historical loss experience with a certain graduated transition period, to estimate losses over the remaining lives of financial assets measured at amortized cost and certain
off-balance-sheet
instruments. The macroeconomic scenario is updated semi-annually in principle and is reviewed to reflect current economic conditions and the Group’s expectation of future conditions on a timely basis. For March 31, 2024 and September 30, 2024, the Group used the most recent macroeconomic scenario available during the Group’s credit loss estimation process.
In terms of the internal risk ratings, for the corporate portfolio segment, the credit quality review process and the credit rating process serve as the basis for determining the allowance for credit losses on loans. Through such processes, loans are categorized into groups to reflect the probability of default, whereby the MHFG Group’s management assesses the ability of borrowers to service their debt, taking into consideration current financial information, ability to generate cash, historical payment experience, analysis of relevant industry segments and current trends. For the retail portfolio segment, the different categories of past due status of loans are primarily utilized in the credit quality review and the credit rating processes as the basis for determining the allowance for credit losses on loans.
In general, the MHFG Group estimates expected credit losses collectively on the loans in the case of normal and watch obligors, considering the risk associated with a particular pool and the probability that the exposures within the pool will deteriorate or default. The allowance for credit losses on nonaccrual loans generally includes the allowance for those loans that were individually evaluated for expected credit losses. See Note 4 “Loans” for the definitions of obligor categories and classification of nonaccrual loans.
The estimation of expected credit losses that are evaluated collectively begins with a quantitative calculation that considers the likelihood of the borrower changing delinquency status or moving from one obligor category or rating to another. The quantitative calculation covers expected credit losses over an instrument’s expected life and is estimated by applying credit loss factors to the MHFG Group’s estimated exposure at default. The credit loss factors incorporate the probability of default as well as the loss given default based on the historical loss rates. To supplement the historical loss data for overseas obligors, external credit ratings such as S&P are also used to calculate the probability of default. The model and inputs used to determine credit losses on loans that are evaluated collectively are analyzed on a periodic basis by comparing the estimated values with the actual results subsequent to the balance sheet date.
The MHFG Group divides its overall portfolio into domestic and foreign portfolios and categorizes the domestic portfolio into four portfolio segments according to their risk profiles: corporate, retail, sovereign, and banks and financial institutions.
The corporate portfolio segment consists of loans originated primarily by MHBK and MHTB, and includes mainly business loans such as those used for working capital and capital expenditure, as well as loans for which the primary source of repayment of the obligation is income generated by the relevant assets such as project finance, asset finance and real estate finance. The corporate portfolio segment is divided into two classes based on their risk characteristics: large companies, and small and
medium-sized
companies. For the corporate portfolio segment, the MHFG Group considers key economic factors such as gross domestic products for Japan and each relevant foreign location, where the portfolio is significant, and the interest rates in Japan when estimating the credit loss.
 
F-9
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The retail portfolio segment consists mainly of residential mortgage loans originated by MHBK, and it is divided into two classes based on their risk characteristics: housing loans and others. For the retail portfolio segment, the Japanese unemployment rate is applied as a key factor. As it pertains to modified loans to borrowers experiencing financial difficulty in the retail portfolio segment, the restructuring itself, as well as subsequent payment defaults, if any, are considered in determining obligor categories. Expected credit loss estimates also include consideration of expected cash recoveries on loans previously
charged-off,
or expected recoveries on collateral dependent loans where recovery is expected through sale of the collateral.
The allowance recorded for individually evaluated loans is based on (1) the present value of expected future cash flows, after considering the restructuring effect and subsequent payment default with respect to modified loans to borrowers experiencing financial difficulty, discounted at the loan’s post-modification contractual effective interest rate, (2) the loan’s observable market price, or (3) the fair value of the collateral if the loan is collateral dependent. The collateral that the MHFG Group obtains for loans consists primarily of real estate. In obtaining the collateral, the Group evaluates the fair value of the collateral and its legal enforceability. The Group also performs subsequent
re-evaluations
at least once a year. As it pertains to real estate collateral, valuation is generally performed by an appraising subsidiary which is independent from the Group’s loan origination departments by using generally accepted valuation techniques such as (1) the replacement cost approach, (2) the sales comparison approach or (3) the income approach. In the case of large real estate collateral, the Group generally engages third-party appraisers to perform the valuation.
The MHFG Group’s methodology for determining the appropriate allowance for credit losses on loans also considers the imprecision inherent in the methodologies used. As a result, the amounts determined under the methodologies described above could be adjusted by management to consider the potential impact of other qualitative factors which include, but are not limited to, imprecision in macroeconomic scenario assumptions and emerging risks related to changes in the environment that affect specific portfolio segments including segments impacted by the Russia-Ukraine situation. Considering internal and external factors affecting the credit quality of the portfolio, the Group incorporated the estimated impact of the Russia-Ukraine situation, interest rates hike on domestic obligors and other factors contributing to economic uncertainty into the macroeconomic scenario by using assumptions such as the future outlook of the business environment for specific portfolio segments and the current forecast for the growth rate of gross domestic product.
In terms of the Russia-Ukraine situation, considering the country risk arising from the continued sanctions against Russia and the downgrading of their credit rating, the MHFG Group incorporated the estimated impact of the Russia-Ukraine situation into the macroeconomic scenario used for determining the allowance for credit losses on loans.
Allowance and provision (credit) for credit losses on
off-balance-sheet
instruments
The MHFG Group maintains an allowance for credit losses on
off-balance-sheet
instruments, such as guarantees and standby letters of credit in the same manner as the allowance for credit losses on loans. The Group similarly assesses the expected loss amounts for commitments to invest in securities and commitments to extend credit, considering the probability of drawdowns. The allowance is recorded in Other liabilities. Net changes in the allowance for credit losses on
off-balance-sheet
instruments are accounted for in Provision (credit) for credit losses on
off-balance-sheet
instruments in the consolidated statements of income.
Allowance and provision (credit) for credit losses on
available-for-sale
securities
The MHFG Group performs periodic reviews to identify impaired securities in accordance with ASC 326.
Available-for-sale
securities are impaired if the fair value is less than the amortized cost (excluding accrued
 
F-10
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
interest receivable). In the case where the Group has the intent to sell an
available-for-sale
debt security or more likely than not will be required to sell an
available-for-sale
debt security before the recovery of its amortized cost basis, the entire difference between amortized cost basis and fair value is recognized immediately through earnings. In other cases, the Group evaluates expected cash flows to be received and determines if a credit loss exists, and if so, the amount of the credit loss is recognized in Provision (credit) for credit losses, while the remaining decline in fair value is recognized in other comprehensive income, net of applicable taxes.
2. Issued accounting pronouncements
Adopted accounting pronouncements
In March 2020, the FASB issued ASU
No.2020-04,
“Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU
No.2020-04”).
The ASU provides optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform. In January 2021, the FASB issued ASU
No.2021-01,
“Reference Rate Reform (Topic 848)—Scope” (“ASU
No.2021-01”).
The ASU clarifies that certain optional expedients and exceptions for contract modifications and hedge accounting apply to derivatives that are affected by the transition. In December 2022, the FASB issued ASU
No.2022-06,
“Reference Rate Reform (Topic 848)—Deferral of the Sunset Date of Topic 848” (“ASU
No.2022-06”).
The ASU amends the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. ASU
No.2020-04
is effective as of March 12, 2020 through December 31, 2024. ASU
No.2021-01
is effective as of January 7, 2021 through December 31, 2024. ASU
No.2022-06
is effective as of December 21, 2022 through December 31, 2024. The MHFG Group has elected the practical expedient for modifications of contracts. The practical expedient provides an election to account for certain contract amendments related to reference rate reform without the requirement to assess the significance of the modifications. The main reason for applying the practical expedient is to ease the administrative burden of accounting for contracts impacted by reference rate reform. This election has not had, and is expected to not have, a material impact on the Group’s consolidated results of operations or financial condition.
Accounting pronouncements issued but not yet effective as of September 30, 2024
In November 2023, the FASB issued ASU
No.2023-07,
“Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures” (“ASU
No.2023-07”).
The amendments in this update improve the annual and interim reportable segments disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The ASU includes a requirement to disclose significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, the title and position of the CODM, an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is required to be adopted on a retrospective basis and will be effective for the MHFG Group for its fiscal year ending March 31, 2025 and for interim periods beginning on April 1, 2025. The Group is currently evaluating the potential impact that the adoption of ASU
No.2023-07
will have on disclosures in its consolidated financial statements.
In December 2023, the FASB issued ASU
No.2023-09,
“Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” (“ASU
No.2023-09”).
The ASU improves income tax disclosures primarily in relation to the rate reconciliation and information on income taxes paid on an annual basis. The ASU will be effective for the MHFG Group for its fiscal year ending March 31, 2026. The Group is currently evaluating the potential impact that the adoption of ASU
No.2023-09
will have on disclosures in its consolidated financial statements.
 
F-11
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
3. Investments
Available-for-sale
and
held-to-maturity
securities
The amortized cost, net of allowance for credit losses, gross unrealized gains and losses, and fair value of
available-for-sale
and
held-to-maturity
securities at March 31, 2024 and September 30, 2024 are as follows:
 
   
Amortized cost 
(4)(5)
    
Gross unrealized

gains
    
Gross unrealized

losses
    
Fair value
  
                         
   
(in millions of yen)
  
March 31, 2024
        
Available-for-sale
securities:
        
Debt securities:
        
Japanese government bonds
     10,968,212       9,137       2,956       10,974,393  
Japanese local government bonds
     591,218       95       7,574       583,739  
U.S. Treasury bonds and federal agency securities
     147,186       118       252       147,052  
Other foreign government bonds
     2,044,611       1,739       1,755       2,044,595  
Agency mortgage-backed securities
(1)
     495,057       140       18,225       476,972  
Residential mortgage-backed securities
     32,120       30       767       31,383  
Commercial mortgage-backed securities
     800,224       4,787       789       804,222  
Japanese corporate bonds and other debt securities
     1,817,009       21,958       5,909       1,833,057  
Foreign corporate bonds and other debt securities
(2)
     816,421       1,713       214       817,921  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     17,712,059       39,718       38,442       17,713,335  
 
 
 
    
 
 
    
 
 
    
 
 
  
Held-to-maturity
securities:
        
Debt securities:
        
Japanese government bonds
     519,397       208       7,585       512,020  
Agency mortgage-backed securities
(3)
     3,528,150       9,213       186,460       3,350,904  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     4,047,547       9,421       194,044       3,862,924  
 
 
 
    
 
 
    
 
 
    
 
 
  
September 30, 2024
        
Available-for-sale
securities:
        
Debt securities:
        
Japanese government bonds
     10,498,527       489       3,926       10,495,090  
Japanese local government bonds
     606,801       66       9,540       597,327  
U.S. Treasury bonds and federal agency securities
     143,145       874       5       144,014  
Other foreign government bonds
     2,611,742       4,026       1,660       2,614,108  
Agency mortgage-backed securities
(1)
     491,394       94       22,919       468,569  
Residential mortgage-backed securities
     23,388       21       550       22,859  
Commercial mortgage-backed securities
     754,995       4,180       825       758,350  
Japanese corporate bonds and other debt securities
     1,557,272       20,100       6,903       1,570,469  
Foreign corporate bonds and other debt securities
(2)
     860,904       2,711       571       863,044  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     17,548,168       32,561       46,898       17,533,830  
 
 
 
    
 
 
    
 
 
    
 
 
  
Held-to-maturity
securities:
        
Debt securities:
        
Japanese government bonds
     459,436       33       8,883       450,587  
Agency mortgage-backed securities
(3)
     3,604,933       31,081       135,711       3,500,303  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     4,064,370       31,115       144,594       3,950,890  
 
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Agency mortgage-backed securities presented in this line consist of Japanese and Foreign agency mortgage-backed securities, of which the fair values were ¥476,947 million and ¥26 million, respectively, at March 31, 2024, and ¥468,546 million and ¥23 million, respectively, at September 30, 2024. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise. Foreign agency mortgage-backed securities primarily consist of Government National Mortgage Association (“Ginnie Mae”) securities, which are guaranteed by the United States government.
(2)
Other debt securities presented in this line primarily consist of Foreign negotiable certificates of deposit (“NCDs”) and asset-backed securities (“ABS”), of which the total fair values were ¥209,956 million at March 31, 2024, and ¥239,614 million at September 30, 2024.
 
F-12
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
(3)
All Agency mortgage-backed securities presented in this line are Ginnie Mae securities.
(4)
Amortized cost, net of the allowance for credit losses, of which the amounts related to
available-for-sale
securities were ¥nil at both March 31, 2024 and September 30, 2024.
(5)
Accrued interest receivables of ¥
15,708 million at March 31, 2024, and ¥16,150 
million at September 30, 2024 are excluded from amortized cost and included in Accrued income. 
Contractual maturities
The amortized cost, net of allowance for credit losses, and fair value of
available-for-sale
and
held-to-maturity
securities at September 30, 2024 are shown in the table below based on their contractual maturities. Expected maturities may differ from contractual maturities because some securities are not due at a single maturity date, and some securities, such as mortgage-backed securities, contain embedded call or prepayment options.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortized cost
 
Due in one

year or less
 
 
Due after one

year through

five years
 
 
Due after five

years through

ten years
 
 
Due after

ten years
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions of yen)
 
Available-for-sale
securities:
          
Debt securities:
          
Japanese government bonds
     9,774,247       360,659       363,621       —        10,498,527  
Japanese local government bonds
     72,350       222,980       303,856       7,616       606,801  
U.S. Treasury bonds and federal agency securities
     56,891       86,254       —        —        143,145  
Other foreign government bonds
     2,012,643       596,364       1,370       1,365       2,611,742  
Agency mortgage-backed securities
     —        —        807       490,587       491,394  
Residential mortgage-backed securities
     —        —        —        23,388       23,388  
Commercial mortgage-backed securities
     12,300       557,981       184,714       —        754,995  
Japanese corporate bonds and other debt securities
     225,142       843,518       173,603       315,009       1,557,272  
Foreign corporate bonds and other debt securities
     523,989       277,361       39,512       20,041       860,904  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     12,677,562       2,945,117       1,067,483       858,006       17,548,168  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Held-to-maturity
securities:
          
Debt securities:
          
Japanese government bonds
     40,001       209,888       209,548       —        459,436  
Agency mortgage-backed securities
     —        —        —        3,604,933       3,604,933  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     40,001       209,888       209,548       3,604,933       4,064,370  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fair value
  
Due in one

year or less
    
Due after one

year through

five years
    
Due after five

years through

ten years
    
Due after

ten years
    
Total
  
                               
   
(in millions of yen)
  
Available-for-sale
securities:
          
Debt securities:
          
Japanese government bonds
     9,774,047       359,884       361,158       —        10,495,090  
Japanese local government bonds
     72,282       220,756       297,181       7,109       597,327  
U.S. Treasury bonds and federal agency securities
     56,970       87,044       —        —        144,014  
Other foreign government bonds
     2,013,305       598,068       1,370       1,365       2,614,108  
Agency mortgage-backed securities
     —        —        798       467,771       468,569  
Residential mortgage-backed securities
     —        —        —        22,859       22,859  
Commercial mortgage-backed securities
     12,311       559,133       186,907       —        758,350  
Japanese corporate bonds and other debt securities
     224,845       840,343       171,853       333,428       1,570,469  
Foreign corporate bonds and other debt securities
     524,723       278,437       39,586       20,298       863,044  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     12,678,483       2,943,665       1,058,853       852,829       17,533,830  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Held-to-maturity
securities:
          
Debt securities:
          
Japanese government bonds
     40,034       207,273       203,280       —        450,587  
Agency mortgage-backed securities
     —        —        —        3,500,303       3,500,303  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     40,034       207,273       203,280       3,500,303       3,950,890  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
F-13
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Credit losses
The MHFG Group did not recognize allowance for credit losses on
available-for-sale
securities on March 31 and September 30, 2023 and March 31 and September 30, 2024. The Group did
not
recognize allowance for credit losses on
held-to-maturity
securities on March 31 and September 30, 2023 and March 31 and September 30, 2024 because
held-to-maturity
securities consist of Japanese government bond
s
and agency mortgage-backed securities like Ginnie Mae securities. See Note 1 “Basis of presentation” for further details of the methodology used to determine the allowance for credit losses.
Continuous unrealized loss position
The following table shows the gross unrealized losses, net of allowance for credit losses, and fair value of
available-for-sale
securities, aggregated by the length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2024 and September 30, 2024:
 
   
Less than 12 months
    
12 months or more
    
Total
  
   
Fair

value
    
Gross

unrealized

losses
    
Fair

value
    
Gross

unrealized

losses
    
Fair

value
    
Gross

unrealized

losses
  
                                     
   
(in millions of yen)
  
March 31, 2024
            
Available-for-sale
securities:
            
Debt securities:
            
Japanese government bonds
     9,019,722       2,448       675,435       508       9,695,157       2,956  
Japanese local government bonds
     108,071       369       456,471       7,205       564,542       7,574  
U.S. Treasury bonds and federal agency securities
     113,185       252       —        —        113,185       252  
Other foreign government bonds
     865,375       1,196       107,238       559       972,613       1,755  
Agency mortgage-backed securities
(Note)
     130,779       1,125       307,777       17,100       438,556       18,225  
Residential mortgage-backed securities
     645       —        25,220       766       25,865       767  
Commercial mortgage-backed securities
     18,594       214       138,724       576       157,318       789  
Japanese corporate bonds and other debt securities
     314,933       893       1,217,858       5,016       1,532,791       5,909  
Foreign corporate bonds and other debt securities
     203,248       166       24,902       48       228,150       214  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     10,774,551       6,663       2,953,626       31,779       13,728,177       38,442  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
September 30, 2024
            
Available-for-sale
securities:
            
Debt securities:
            
Japanese government bonds
     8,406,275       3,926       —        —        8,406,275       3,926  
Japanese local government bonds
     89,760       588       489,110       8,953       578,871       9,540  
U.S. Treasury bonds and federal agency securities
     35,664       5       —        —        35,664       5  
Other foreign government bonds
     792,307       904       175,015       756       967,321       1,660  
Agency mortgage-backed securities
(Note)
     42,120       336       409,277       22,583       451,397       22,919  
Residential mortgage-backed securities
     794       1       18,391       549       19,185       550  
Commercial mortgage-backed securities
     32,920       49       110,829       776       143,749       825  
Japanese corporate bonds and other debt securities
     169,077       884       1,196,816       6,019       1,365,893       6,903  
Foreign corporate bonds and other debt securities
     131,905       179       31,382       392       163,287       571  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     9,700,823       6,870       2,430,819       40,028       12,131,641       46,898  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Note:
Agency mortgage-backed securities presented in this line consist of Japanese agency mortgage-backed securities, of which the fair values were ¥438,556 million at March 31, 2024, and ¥451,397 million at September 30, 2024. All Japanese agency mortgage-backed securities are issued by Japan Housing Finance Agency, a Japanese government-sponsored enterprise.
Available-for-sale
securities are considered impaired if the fair value is less than the amortized cost. The MHFG Group recognizes impairment losses in earnings if the Group has the intent to sell the debt security, or if it is more likely than not that the Group will be required to sell the debt security before recovery of its amortized cost. For Japanese government bonds, U.S. Treasury bonds and federal agency securities and Agency mortgage-backed securities, their entire amortized cost bases are expected to be recovered since the unrealized losses had
 
F-14
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
not resulted from credit deterioration, but primarily from changes in interest rates. For the debt securities other than those described above, except for the securities for which credit losses are recognized in income, the Group determined that their entire amortized cost bases are expected to be recovered, after considering various factors such as the extent to which their fair values were below their amortized cost bases, the external and/or internal ratings and the present values of cash flows expected to be collected. Based on the aforementioned evaluation, except for the securities for which credit losses are recognized in income, the Group determined that the debt securities in an unrealized loss position were not considered credit losses.
Realized gains and losses
The following table shows the realized gains and losses on sales of
available-for-sale
securities for the six months ended September 30, 2023 and 2024. See “Consolidated Statements of Cash Flows (Unaudited)” for the proceeds from sales of investments.
 
    
 Six months ended September 30, 
  
    
   2023   
    
   2024   
  
              
    
(in millions of yen)
  
Gross realized gains
           10,472            10,527  
Gross realized losses
      (3,990 )      (7,168 ) 
  
 
 
    
 
 
  
Net realized gains (losses) on sales of
available-for-sale
securities
        6,481         3,358  
  
 
 
    
 
 
  
Equity securities
Equity securities include securities which have readily determinable fair values, securities which qualify for the practical expedient to estimate fair value using the net asset value per share (or its equivalent), and securities which are without readily determinable fair values. Equity securities which have readily determinable fair values mainly consist of common stock of Japanese listed companies. Equity securities which are measured based on the net asset value per share (or its equivalent) consist of private equity and real estate funds. Equity securities without readily determinable fair values include
non-marketable
stock.
Net gains and losses
The following table shows the details of the net gains and losses on Equity securities for the six months ended Se
ptem
ber 30, 2023 and 2024:
 
 
  
 Six months ended September 30, 
 
 
  
   2023   
 
  
   2024   
 
 
  
 
 
  
 
 
 
  
(in millions of yen)
 
Net gains (losses) recognized during the period on eq
ui
ty securities
          490,375           (133,889 ) 
Less: Net gains (losses) recognized during the period on equity securities sold during the period
      54,483        (16,559 )
 
  
 
 
     
 
 
  
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting period
        435,892        (117,330 )
  
 
 
     
 
 
  
 
F-15
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Equity securities without readily determinable fair values
The following table shows carrying amounts of equity securities without readily determinable fair values, for which the measurement alternative is used, and cumulative amounts due to downward adjustments and impairments and upward adjustments, at March 31, 2024 and September 30, 2024:

 
  
March 31, 2024
 
 
September 30, 2024
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Carrying amounts at the end of the period
         357,938          424,477  
Downward adjustments and impairments
      11,002        13,456  
Upward adjustments
      13,764       13,798  
The following table shows amounts recognized in earnings during the period due to downward adjustments and impairments and upward adjustments for equity securities without readily determinable fair values.
 
 
  
Six months ended September 30,
 
 
  
   2023   
 
 
     2024     
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Downward adjustments and impairments
           1,438             2,914  
Upward adjustments
      66        229  
The MHFG Group elected to measure all equity securities without readily determinable fair values, which do not qualify for the practical expedient to estimate fair value, using the measurement alternative, which is made on an
instrument-by-instrument
basis. Under the measurement alternative, equity securities are carried at cost plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar securities of the same issuer. In addition, the Group assesses whether these equity securities are impaired. Impairment is primarily based on a liquidation value technique that considers the financial condition, credit ratings, and near-term prospects of the issuers. When observable price changes or impairments exist, the securities are adjusted to fair value, with the full difference between the fair value of the security and its carrying amount recognized in earnings.
Other investments
The following table summarizes the composition of Other investments at March 31, 2024 and September 30, 2024:

 
  
March 31, 2024
 
 
September 30, 2024
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Equity method investments
      799,527       866,393  
Investments held by consolidated investment companies and other
      84,969        94,034  
  
 
 
    
 
 
  
Total
         884,496       960,427  
  
 
 
    
 
 
  
Equity method investments
Investments in investees over which the MHFG Group has the ability to exert significant influence are accounted for using the equity method of accounting. Such investments included marketable equity securities with carrying values of ¥316,205 million and ¥340,271 million, at March 31, 2024 and September 30, 2024, respectively. The aggregate market values of these marketable equity securities were ¥642,663 million and ¥591,571 million, respectively. The majority of the aggregate market values of these marketable equity securities as of
 
F-16
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
September 30, 2024 include Orient Corporation, Joint Stock Commercial Bank for Foreign Trade of Vietnam and Mizuho Leasing Company, Limited of which the Group’s proportionate
shares
of the total outstanding common stock were 48.95%, 15.00% and 23.54%, respectively. In addition, equity method investments as of September 30, 2024 include
non-marketable
equity securities such as Matthews International Capital Management, LLC, Custody Bank of Japan, Ltd., Rakuten Securities, Inc. and Kisetsu Saison Finance (India) Private Ltd. of which the
MHFG 
Group’s proportionate
shares
of the total outstanding common stock were 18.00%, 27.00%, 49.00% and 16.24% respectively.
Investments held by consolidated investment companies
The MHFG Group consolidates certain investment companies over which it has control through either ownership or other means. Investment companies are subject to specialized industry accounting which requires investments to be carried at fair value, with changes in fair value recorded in earnings. The Group maintains this specialized industry accounting for investments held by consolidated investment companies, which consist of marketable and
non-marketable
investments.
4. Loans
Credit quality information
In accordance with the MHFG Group’s credit risk management policies, the Group uses an internal rating system that consists of credit ratings for the corporate portfolio segment and pool allocations for the retail portfolio segment as the basis of its risk management infrastructure. Credit ratings consist of obligor ratings which represent the level of credit risk of the obligor, and transaction ratings which represent the ultimate possibility of losses expected on individual loans by taking into consideration various factors such as collateral or guarantees involved. In principle, obligor ratings are applied to all obligors except those to which pool allocations are applied, and are subject to regular review at least once a year as well as special review which is required whenever the obligor’s credit standing changes. Pool allocations are applied to small loans that are less than a specified amount by pooling customers and loans with similar risk characteristics, and the risk is assessed mainly based on past due status and managed according to such pools. The Group generally reviews the appropriateness and effectiveness of the approach to obligor ratings and pool allocations once a year in accordance with predetermined policies and procedures.
The Group does not record expected credit losses for accrued interest receivables because uncollectible accrued interest is reversed through interest income in a timely manner in line with the Group’s nonaccrual and past due policies for loans. The amount of
accrued
interest
receivables included in Accrued income was ¥260 billion and ¥239 billion at March 31, 2024 and September 30, 2024, respectively.
The Group does not believe that its exposure to any particular geographic area and business sector results in a significant concentration of credit risk.
 
F-17
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The table below presents the MHFG Group’s definition of obligor ratings used by MHBK and MHTB, and equivalent obligor ratings are determined for the other subsidiaries:

 
Obligor category
(1)(2)
   
Obligor rating
   
Definition
Normal
    A    Obligors whose certainty of debt fulfillment is very high, hence their level of credit risk is very low.
   B    Obligors whose certainty of debt fulfillment poses no problems for the foreseeable future, and their level of credit risk is low.
   C    Obligors whose certainty of debt fulfillment and their level of credit risk pose no problems for the foreseeable future.
   D    Obligors whose current certainty of debt fulfillment poses no problems, however, their resistance to future economic environmental changes is low.
Watch
    E1    Obligors that require observation going forward because of either minor concerns regarding their financial position, or their somewhat weak or unstable business conditions.
   E2    Obligors that require special observation going forward because of problems with their borrowings such as reduced or suspended interest payments, problems with debt fulfillment such as failure to make principal or interest payments, or problems with their financial position as a result of their weak or unstable business conditions.
Intensive control
    F    Obligors that are not yet bankrupt but are in financial difficulties and are deemed likely to become bankrupt in the future because of insufficient progress in implementing their management improvement plans or other measures (including obligors that are receiving ongoing support from financial institutions).
Substantially bankrupt
    G    Obligors that have not yet become legally or formally bankrupt but are substantially insolvent because they are in serious financial difficulties and are deemed to be incapable of being restructured.
Bankrupt
    H    Obligors that have become legally or formally bankrupt.
 
Notes:
(1)
Special attention obligors are watch obligors with modified debt or
90
days or more delinquent debt. Loans to such obligors are considered nonaccrual.
(2)
The Group classifies loans to special attention, intensive control, substantially bankrupt and bankrupt obligors as nonaccrual loans.
 
F-18
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The table below presents credit quality information of loans based on the MHFG Group’s internal rating system at March 31, 2024 and September 30, 2024:
 
                   
                   
                   
                   
                   
                   
                   
                   
   
March 31, 2024
  
   
Term loans by origination year
    
Revolving

Loans
(2)
    
Total
  
   
20
23
    
2022
    
2021
    
2020
    
2019
    
Prior to

2019
  
                                                 
   
(in billions of yen)
  
Domestic:
                
Corporate:
                
Large companies:
                
Normal obligors
  
 
13,870
 
  
 
5,879
 
  
 
4,505
 
  
 
4,328
 
  
 
2,832
 
  
 
4,979
 
  
 
7,847
 
  
 
44,241
 
Watch obligors excluding special attention obligors
  
 
186
 
  
 
42
 
  
 
37
 
  
 
43
 
  
 
184
 
  
 
49
 
  
 
172
 
  
 
713
 
Nonaccrual loans
  
 
157
 
  
 
65
 
  
 
26
 
  
 
61
 
  
 
134
 
  
 
167
 
  
 
356
 
  
 
967
 
Small and
medium-sized
companies:
                
Normal obligors
  
 
430
 
  
 
251
 
  
 
195
 
  
 
150
 
  
 
151
 
  
 
533
 
  
 
494
 
  
 
2,204
 
Watch obligors excluding special attention obligors
  
 
35
 
  
 
15
 
  
 
10
 
  
 
12
 
  
 
15
 
  
 
30
 
  
 
19
 
  
 
135
 
Nonaccrual loans
  
 
8
 
  
 
7
 
  
 
7
 
  
 
8
 
  
 
8
 
  
 
33
 
  
 
26
 
  
 
97
 
Retail
(1)
:
                
Housing Loan:
                
Normal obligors
  
 
350
 
  
 
391
 
  
 
431
 
  
 
342
 
  
 
360
 
  
 
5,224
 
  
 
— 
 
  
 
7,098
 
Watch obligors excluding special attention obligors
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
36
 
  
 
— 
 
  
 
37
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
1
 
  
 
33
 
  
 
— 
 
  
 
35
 
Others:
                
Normal obligors
  
 
211
 
  
 
71
 
  
 
54
 
  
 
100
 
  
 
48
 
  
 
337
 
  
 
470
 
  
 
1,291
 
Watch obligors excluding special attention obligors
  
 
23
 
  
 
6
 
  
 
5
 
  
 
10
 
  
 
3
 
  
 
7
 
  
 
8
 
  
 
62
 
Nonaccrual loans
  
 
5
 
  
 
2
 
  
 
3
 
  
 
6
 
  
 
2
 
  
 
22
 
  
 
9
 
  
 
49
 
Sovereign:
                
Normal obligors
  
 
1,858
 
  
 
47
 
  
 
48
 
  
 
92
 
  
 
66
 
  
 
321
 
  
 
3
 
  
 
2,436
 
Watch obligors excluding special attention obligors
  
 
8
 
  
 
2
 
  
 
1
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
12
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Banks and other financial institutions:
                
Normal obligors
  
 
120
 
  
 
103
 
  
 
262
 
  
 
2
 
  
 
107
 
  
 
110
 
  
 
527
 
  
 
1,231
 
Watch obligors excluding special attention obligors
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
  
 
17,261
 
  
 
6,882
 
  
 
5,585
 
  
 
5,155
 
  
 
3,911
 
  
 
11,883
 
  
 
9,932
 
  
 
60,608
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
                
Corporate
(3)
:
                
Normal obligors
  
 
14,106
 
  
 
5,488
 
  
 
2,589
 
  
 
1,028
 
  
 
1,128
 
  
 
1,028
 
  
 
7,706
 
  
 
33,073
 
Watch obligors excluding special attention obligors
  
 
243
 
  
 
83
 
  
 
35
 
  
 
161
 
  
 
22
 
  
 
57
 
  
 
105
 
  
 
705
 
Nonaccrual loans
  
 
60
 
  
 
27
 
  
 
2
 
  
 
5
 
  
 
2
 
  
 
19
 
  
 
13
 
  
 
127
 
Retail:
                
Normal obligors
  
 
2
 
  
 
1
 
  
 
1
 
  
 
1
 
  
 
1
 
  
 
3
 
  
 
— 
 
  
 
10
 
Watch obligors excluding special attention obligors
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Sovereign:
                
Normal obligors
  
 
319
 
  
 
215
 
  
 
117
 
  
 
2
 
  
 
4
 
  
 
— 
 
  
 
29
 
  
 
686
 
Watch obligors excluding special attention obligors
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Banks and other financial institutions:
                
Normal obligors
  
 
1,674
 
  
 
874
 
  
 
193
 
  
 
21
 
  
 
2
 
  
 
7
 
  
 
448
 
  
 
3,219
 
Watch obligors excluding special attention obligors
  
 
— 
 
  
 
6
 
  
 
4
 
  
 
— 
 
  
 
6
 
  
 
— 
 
  
 
— 
 
  
 
16
 
Nonaccrual loans
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total foreign
  
 
16,403
 
  
 
6,694
 
  
 
2,941
 
  
 
1,219
 
  
 
1,164
 
  
 
1,114
 
  
 
8,302
 
  
 
37,837
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
  
 
33,665
 
  
 
13,575
 
  
 
8,525
 
  
 
6,374
 
  
 
5,075
 
  
 
12,997
 
  
 
18,233
 
  
 
98,445
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
F-19
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
   
September 30, 2024
  
   
Term loans by origination year
    
Revolving

Loans
(2)
    
Total
  
   
2024
    
2023
    
2022
    
2021
    
2020
    
Prior to

2020
  
                                                 
   
(in billions of yen)
  
Domestic:
                
Corporate:
                
Large companies:
                
Normal obligors
     8,794       7,746       5,169       3,987       3,890       6,763       7,847       44,196  
Watch obligors excluding special attention obligors
     116       83       40       85       32       209       156       721  
Nonaccrual loans
     46       83       54       37       59       263       332       873  
Small and
medium-sized
companies:
                
Normal obligors
     216       317       212       168       133       601       459       2,106  
Watch obligors excluding special attention obligors
     19       26       10       9       9       39       23       136  
Nonaccrual loans
     1       5       7       6       8       35       23       86  
Retail
(1)
:
                
Housing Loan:
                
Normal obligors
     161       299       380       417       332       5,298       —        6,887  
Watch obligors excluding special attention obligors
     —        —        —        —        —        36       —        37  
Nonaccrual loans
     —        —        —        —        —        31       —        32  
Others:
                
Normal obligors
     102       136       62       43       88       344       463       1,237  
Watch obligors excluding special attention obligors
     11       13       6       4       9       8       8       59  
Nonaccrual loans
     2       4       2       3       6       22       8       47  
Sovereign:
                
Normal obligors
     1,725       248       47       46       89       349       3       2,506  
Watch obligors excluding special attention obligors
     —        4       1       —        —        —        —        6  
Nonaccrual loans
     —        —        —        —        —        —        —        —   
Banks and other financial institutions:
                
Normal obligors
     75       82       72       253       2       166       107       757  
Watch obligors excluding special attention obligors
     —        —        —        —        —        —        —        —   
Nonaccrual loans
     —        —        —        —        —        —        —        —   
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     11,268       9,046       6,062       5,059       4,656       14,165       9,430       59,686  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
                
Corporate
(3)
:
                
Normal obligors
     10,579       5,947       4,252       1,719       719       1,650       7,919       32,784  
Watch obligors excluding special attention obligors
     205       81       84       29       135       85       89       709  
Nonaccrual loans
     8       25       20       —        7       24       19       104  
Retail:
                
Normal obligors
     1       2       1       1       1       4       —        10  
Watch obligors excluding special attention obligors
     —        —        —        —        —        —        —        —   
Nonaccrual loans
     —        —        —        —        —        —        —        —   
Sovereign:
                
Normal obligors
     157       228       236       15       2       4       30       670  
Watch obligors excluding special attention obligors
     1       1       —        —        —        —        —        2  
Nonaccrual loans
     —        —        —        —        —        —        —        —   
Banks and other financial institutions:
                
Normal obligors
     828       826       631       151       36       206       447       3,124  
Watch obligo
rs ex
cluding special attention obligors
     —        —        3       —        —        8       —        11  
Nonaccrual loans
     —        —        —        3       —        —        —        3  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total foreign
     11,778       7,110       5,227       1,918       900       1,981       8,504       37,417  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     23,046       16,156       11,288       6,977       5,556       16,146       17,933       97,103  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
The primary component of the retail portfolio segment is housing loans to individuals which obligor cate
go
ry is classified based on past due status. The trigger to reclassify obligors from normal obligors to watch obligors excluding special attention obligors is when the past due status is more than 30 days.
(2)
There were no significant revolving line of credit arrangements that converted to term loans during the fiscal year ended March 31, 2024 and the six months ended September 30, 2024.
(3)
Corporate of foreign included ¥176 billion and ¥168 billion of lease receivables that were receivables arising from direct financing leasing at March 31, 2024 and September 30, 2024, respectively.
 
F-20
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The table below presents gross charge-offs recognized for the six months ended September 30, 2023 and 2024:
 
   
September 30, 2023
  
   
2023
    
2022
    
2021
    
2020
    
2019
    
Prior to

2019
    
Revolving

Loans
    
Total
  
   
(in billions of yen)
  
Domestic:
                
Corporate:
                
Large companies
     2       8       1       —        —        1       1       13  
Small and
medium-sized
companies
     —        —        —        —        —        —        1       1  
Retail:
                
Housing Loan
     —        —        —        —        —        1       —        1  
Others
     —        —        —        —        —        —        —        1  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     2       9       1       —        —        2       2       16  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
                
Total foreign 
(Note)
     —        —        —        2       —        5       —        7  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     2       9       1       2       —        7       2       24  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
   
September 30, 2024
  
   
2024
    
2023
    
2022
    
2021
    
2020
    
Prior to

2020
    
Revolving

Loans
    
Total
  
   
(in billions of yen)
  
Domestic:
                
Corporate:
                
Large companies
     4       3       —        —        —        —        2       9  
Small and
medium-sized
companies
     1       1       —        —        —        —        1       3  
Retail:
                
Housing Loan
     —        —        —        —        —        1       —        1  
Others
     —        1       —        —        —        —        —        1  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     5       4       —        —        —        2       3       14  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
                
Total foreign
(Note)
     3       4       4       —        —        —        —        12  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     8       9       4       —        —        2       3       26  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Note: The majority of total foreign consist of corporate.
Loans are generally carried at the principal amount adjusted for unearned income and deferred net nonrefundable loan fees and costs. Loan origination fees, net of certain direct origination costs, are deferred and recognized over the contractual life of the loan as an adjustment of yield using a method that approximates the interest method. Interest income on performing loans is accrued and credited to income as it is earned. Unearned income and discounts or premiums on purchased loans are deferred and recognized over the life of the loan using a method that approximates the interest method.
Unearned income and deferred loan fees was ¥268 billion and ¥257 billion at March 31, 2024 and September 30, 2024, respectively.
The Group uses, as a practical expedient, the fair value of the collateral when recording the net carrying amounts of loans and determining the allowance for credit losses of such loans, for which the repayment is expected to be provided substantially through the operation or sale of the collateral, when the borrower is experiencing financial
 
F-21
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
difficulty based on the assessment as of the reporting date. As of September 30, 2024, collateral relating to these loans was primarily comprised of real estate. There were no significant changes in the extent to which collateral secures these loans during this period and no significant concentration of collateral against any portfolio segment.
Nonaccrual loans
Loans are considered nonaccrual when, based on current information and events, it is probable that the MHFG Group will be unable to collect all the scheduled payments of principal and interest when due according to the contractual terms of the loans. Factors considered by management in determining if a loan is nonaccrual include delinquency status and the ability of the debtor to make payments of the principal and interest when due. The Group classifies loans to special attention, intensive control, substantially bankrupt and bankrupt obligors as nonaccrual loans. Nonaccrual loans include loans past due for
90
days or more and modified loans to borrowers experiencing financial difficulty. There are no loans that are
90
days past due and still accruing. The Group does not have any loans to borrowers that cause management to have serious doubts as to the ability of such borrowers to comply with the present loan repayment terms for the periods presented other than those already designated as nonaccrual loans. The majority of nonaccrual loans have no contractual delinquency due to interest reductions and/or postponement of principal and interest.
In case loans are designated as nonaccrual loans, interest accruals and the amortization of net origination fees are suspended and capitalized interest is written off. Cash received on nonaccrual loans is accounted for as a reduction of the loan principal if the ultimate collectability of the principal amount is in doubt, otherwise, as interest income. Loans are not restored to accrual status until interest and principal payments are current and future payments are reasonably assured. Nonaccrual loans are restored to accrual loans and accrual status, when the MHFG Group determines that the borrower poses no concerns regarding current certainty of debt fulfillment. In general, such determination is made if the borrower qualifies for an obligor rating of E2 or above and is not classified as a special attention obligor. With respect to modified loans to borrowers experiencing financial difficulty, in general, such loans are restored to accrual loans, and accrual status, when the borrower qualifies for an obligor rating of D or above. The table below presents nonaccrual loans information at March 31, 2024 and
September 30, 2024, and interest income recognized on nonaccrual loans for the six months ended September 30, 2023 and 2024:
   
March 31, 2024
    
September 30,
2023
  
   
Amortized cost
(1)
    
Interest
income
recognized
(2)
  
   
Nonaccrual
loans with an
allowance
    
Nonaccrual
loans without an
allowance
    
Total
nonaccrual
loans
  
   
(in billions of yen)
  
Domestic:
                                        
Corporate:
        
Large companies
     950       17       967       6  
Small and
medium-sized
companies
     86       12       97       1  
Retail:
        
Housing Loan
     20       15       35       —   
Others
     31       18       49       —   
 
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     1,088       61       1,149       7  
 
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
        
Total foreign
(3)
     124       3       127       4  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     1,212       64       1,276       11  
 
 
 
    
 
 
    
 
 
    
 
 
  
 
F-22
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
   
September 30, 2024
    
September 30,
2024
  
   
Amortized cost
(1)
    
Interest
income

recognized
(2)
  
   
Nonaccrual
loans with an
allowance
    
Nonaccrual
loans without an
allowance
    
Total
nonaccrual
loans
  
   
(in billions of yen)
  
Domestic:
                                        
Corporate:
        
Large companies
     857       16       873       6  
Small and
medium-sized
companies
     78       8       86       1  
Retail:
        
Housing Loan
     20       12       32       —   
Others
     29       17       47       —   
 
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     984       54       1,037       8  
 
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
        
Total foreign
(3)
     105       2       108       2  
 
 
 
    
 
 
    
 
 
    
 
 
  
Total
     1,089       56       1,145       9  
 
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Amounts represent the outstanding balances of nonaccrual loans. The MHFG Group’s policy for placing loans in nonaccrual status is consistent with the Group’s definition of nonaccrual loans.
(2)
Amounts represent the amount of interest income on nonaccrual loans recognized on a cash basis and included in Interest income on loans in the consolidated statements of income.
(3)
The majority of total foreign consist of corporate.
The remaining balance of nonaccrual loans that ha
s
been partially charged off, was ¥8,168 million and ¥10,071 million as of March 31, 2024 and September 30, 2024, respectively.
 
F-23
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Loan modifications to borrowers experiencing financial difficulty
The MHFG Group grants certain modifications of loans to borrowers experiencing financial difficulty. The following table presents loan modifications to borrowers experiencing financial difficulty by type of modification during the six months ended September 30, 2023 and 2024:
 
 
Term
extension
(2)
 
 
Interest
rate
reduction
(2)
 
 
Term
extension
and interest
rate
reduction
(2)
 
 
Principal
forgiveness
 
 
Other
 
 
Total
(3)(4)
 
 
 
(in billions of yen)
 
September 30, 2023
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
Domestic:
 
 
 
 
 
 
Corporate:
 
 
 
 
 
 
Large companies

 
182
 

 
— 
 

 
1
 

 
— 
 

 
6
 

 
189
 
Small and
medium-sized
companies

 
26
 

 
— 
 

 
1
 

 
— 
 

 
— 
 

 
26
 
Retail:






Housing Loan

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 
Others

 
4
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
5
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Total domestic

 
212
 

 
— 
 

 
2
 

 
— 
 

 
6
 

 
221
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Foreign:






Total foreign
(1)

 
9
 

 
1
 

 
22
 

 
—
 
 

 
1
 

 
33
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Total

 
221
 

 
1
 

 
25
 

 
— 
 

 
6
 

 
254
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
           
   
Term
extension
(2)
    
Interest
rate
reduction
(2)
    
Term
extension
and interest
rate
reduction
(2)
    
Principal
forgiveness
    
Other
    
Total
(3)(4)
  
   
(in billions of yen)
  
September 30, 2024
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
Domestic:






Corporate:






Large companies

 
149
 

 
— 
 

 
3
 

 
— 
 

 
3
 

 
156
 
Small and
medium-sized
companies

 
23
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
24
 
Retail:






Housing Loan

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 
Others

 
4
 

 
— 
 

 
— 
 

 
— 
 

 
— 
 

 
4
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Total domestic

 
176
 

 
— 
 

 
4
 

 
— 
 

 
3
 

 
183
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Foreign:






Total foreign
(1)

 
13
 

 
— 
 

 
— 
 

 
—
 
 

 
—
 
 

 
13
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
Total

 
189
 

 
— 
 

 
4
 

 
— 
 

 
3
 

 
196
 
 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 
 
Notes:
(1)
The majority of total foreign consist of corporate.
 
F-24
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
(2)
The financial effects of loan modifications, which were largely in the form of term extensions and interest rate reductions, included extending the weighted-average life of the loans by 7.0
months and
7.1 months, and reducing the weighted-average contractual interest rate by 1.2
%
and 1.4% for the six months ended September 30, 2023 and
2024, respectively. 
(3)
Commitments to lend to borrowers experiencing financial difficulty that were granted modifications were immaterial at September 30, 2023 and 2024.
(4)
The allowance for credit losses on loans is based on macroeconomic-sensitive models that rely on historical performance and macroeconomic scenarios to forecast expected credit losses. Modifications of loans impact expected credit losses by affecting the likelihood of default.
The following table presents the delinquent status of modified loans to borrowers experiencing financial difficulty, including loans that were modified during the six months ended September 30, 2023, and the twelve months ended September 30, 2024:
 
 
 
30-59 days

past due
 
 
60-89 days

past due
 
 
90 days
or more
past due
 
 
Total past
due
 
 
Current
 
 
Total
 
 
 
(in billions of yen)
 
September 30, 2023
 
 
 
 
 
 
Domestic:
 
 
 
 
 
 
Corporate:
 
 
 
 
 
 
Large companies
     —        —        4       4       186       189  
Small and
medium-sized
companies
     —        —        —        —        26       26  
Retail:
            
Housing Loan
     —        —        —        —        —        —   
Others
     —        —        —        —        5       5  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     —        —        4       4       217       221  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
            
Total foreign
(Note)
     —        —        —        —        33       33  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     —        —        4       4       250       254  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
           
   
30-59 days

past due
    
60-89 days

past due
    
90 days
or more
past due
    
Total past
due
    
Current
    
Total
  
   
(in billions of yen)
  
September 30, 2024
            
Domestic:
            
Corporate:
            
Large companies
     —        —        3       3       152       156  
Small and
medium-sized
companies
     —        —        —        —        24       24  
Retail:
            
Housing Loan
     —        —        —        —        —        —   
Others
     —        —        —        —        4       4  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     —        —        3       3       180       183  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
            
Total foreign
(Note)
     —        —        —        —        13       13  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     —        —        3       3       192       196  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Note: The majority of total foreign consist of corporate.
 
F-25
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Payment default is deemed to occur when the loan becomes three months past due or the obligor is downgraded to the category of substantially bankrupt or bankrupt. The loans modified and subsequently defaulted during the six months ended September 30, 2023, and the twelve months ended September 30, 2024, were insignificant.
Age analysis of past due loans
The table below presents an analysis of the age of the amortized cost basis in loans that are past due at March 31, 2024 and September 30, 2024:
 
 
 
30-59 days

past due
 
 
60-89 days

past due
 
 
90 days or

more past due
 
 
Total past

due
 
 
Current
 
 
Total
 
 
 
(in billions of yen)
 
March 31, 2024
 
 
 
 
 
 
Domestic:
 
 
 
 
 
 
Corporate:
 
 
 
 
 
 
Large companies
     1       —        35       37       45,884       45,921  
Small and
medium-sized
companies
     —        1       5       6       2,431       2,436  
Retail:
            
Housing Loan
     12       7       12       31       7,139       7,170  
Others
     5       1       10       16       1,387       1,403  
Sovereign
     —        —        —        —        2,447       2,447  
Banks and other financial institutions
     —        —        —        —        1,231       1,231  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     18       9       62       89       60,519       60,608  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
            
Total foreign
(Note)
     —        —        20       20       37,817       37,837  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
         18            9           82          109       98,335       98,445  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
           
September 30, 2024
            
Domestic:
            
Corporate:
            
Large companies
     3       2       42       47       45,744       45,790  
Small and
medium-sized
companies
     —        1       4       5       2,322       2,327  
Retail:
            
Housing Loan
     13       5       11       28       6,928       6,957  
Others
     5       1       10       16       1,327       1,343  
Sovereign
     —        —        —        —        2,512       2,512  
Banks and other financial institutions
     —        —        —        —        757       757  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total domestic
     21       9       66       96       59,590       59,686  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Foreign:
            
Total foreign
(Note)
     —        —        16       16       37,402       37,417  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     21       9       82       112       96,991       97,103  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Note: The majority of total foreign consist of corporate.
 
F-26
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Net losses on sales of loans
Net losses on sales of loans were ¥11,057 million and ¥3,828 million for the six months ended September 30, 2023 and 2024, respectively. These net losses include unrealized gains and losses on loans held for sale, representing the adjustments to the lower of cost or fair value at the end of each reporting period. The gains and losses on sales of loans are recorded in Other noninterest income and expenses, respectively.
5. Allowance for credit losses on loans
Changes in Allowance for credit losses on loans by portfolio segment for the six months ended September 30, 2023 and 2024 are shown below:

 
 
 
Domestic
 
 
 
 
 
 
 
 
 
Corporate
 
 
Retail
 
 
Sovereign
 
 
Banks and
other financial
institutions
 
 
Foreign 
(2)
 
 
Total
 
 
 
(in millions of yen)
 
Six months ended September 30, 2023
             
Balance at beginning of period
      505,901       63,541       53       870       130,594       700,959  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Provision (credit) for credit losses on loans
      35,107       1,224       (10 )
 
     (647 )
 
     (33,037 )
 
     2,637  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Charge-offs
      (14,081 )
 
     (2,157 )
 
     —        —        (7,303 )     (23,541 )
Recoveries
      1,086       733       —        —        1,347       3,166  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net charge-offs
      (12,996 )     (1,424 )     —        —        (5,956 )     (20,376 )
 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Others
(1)
      —        —        —        —        46,773       46,773  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Balance at end of period
      528,013       63,341       43       223       138,374       729,994  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
Domestic
 
 
 
 
 
 
 
 
 
Corporate
 
 
Retail
 
 
Sovereign
 
 
Banks and
other financial
institutions
 
 
Foreign 
(2)
 
 
Total
 
 
 
(in millions of yen)
 
Six months ended September 30, 2024
                  
Balance at beginning of period
      563,716        55,790        44        273        130,249        750,071  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Provision (credit) for credit losses on loans
      (6,543 )      661        (8 )
 
      (61 )
 
      3,830        (2,121 )
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Charge-offs
      (11,260 )
 
      (2,474 )
 
      —         —         (12,145 )
 
      (25,880 )
Recoveries
      6,915        524        —         —         860        8,299  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Net charge-offs
      (4,345 )      (1,951 )      —         —         (11,285 )      (17,581 )
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Others
(1)
      —         —         —         —         (14,621 )      (14,621 )
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Balance at end of period
      552,828        54,500        36        211        108,172        715,747  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
Notes:
(1)
Others includes primarily foreign exchange translation.
(2)
The majority of total foreign consist of corporate.
 
F-2
7
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
6. Other assets and liabilities
The following table sets forth the details of other assets and liabilities at March 31, 2024 and September 30, 2024:
 

    
March 31, 2024
     
September 30, 2024
  
    
(in millions of yen)
  
Other assets:
      
Accounts receivable:
      
Receivables from brokers, dealers and customers for securities transactions
      2,278,334        2,244,459  
Other
      571,349        438,685  
Collateral pledged:
      
Collateral pledged for derivative transactions
      1,406,369        1,540,730  
Margins provided for futures contracts
      264,473        285,816  
Other
      1,014,478        93,368  
Prepaid pension cost
      763,254        780,009  
Right-of-use
assets
      522,936        496,935  
Security deposits
      83,204        81,002  
Loans held for sale
      103,592        452,877  
Other
(1)
      1,272,162        1,249,052  
  
 
 
     
 
 
  
Total
      8,280,151        7,662,932  
  
 
 
     
 
 
  
Other liabilities:
      
Accounts payable:
      
Payables to brokers, dealers and customers for securities transactions
      1,049,094        1,366,973  
Other
      639,106        601,395  
Guaranteed trust principal
(
2
)
      785,292        749,711  
Lease liabilities
      548,699        520,267  
Collateral accepted:
      
Collateral accepted for derivative transactions
      1,382,985        1,076,224  
Margins accepted for futures contracts
      25,405        17,584  
Unearned income
      101,150        94,797  
Other
      1,737,267        1,870,960  
  
 
 
     
 
 
  
Total
      6,268,999        6,297,911  
  
 
 
     
 
 
  
 
Notes:
(1)
At March 31, 2024, The MHFG Group included premises and equipment classified as held for sale in Other.
(2)
Guaranteed trust principal, included in All other liabilities in the disclosure about consolidated VIEs in the accompanying balance sheets, is a liability of certain consolidated trust arrangements that meet the definition of a VIE for which the MHFG Group provides guarantees for the repayment of principal. See Note 15 “Variable interest entities and securitizations” for further discussion of the guaranteed principal money trusts.
 
F-2
8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
7. Preferred and common stock
Preferred stock
The composition of preferred stock at March 31, 2024 and September 30, 2024 is as follows:
 
Class of stock
   
March 31, 2024
     
September 30, 2024
  
  
Authorized
     
Issued
     
Authorized
     
Issued
  
                             
    
(number of shares)
  
Class XIV preferred stock
      90,000,000        —         90,000,000        —   
Class XV preferred stock
      90,000,000        —         90,000,000        —   
Class XVI preferred stock
      150,000,000        —         150,000,000        —   
Common stock
The number of issued shares of common stock at March 31, 2024 and September 30, 2024 was 2,539,249,894. There was no increase or decrease during the six months ended September 30, 2024.
 
F-
29
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
8. Accumulated other comprehensive income (loss), net of tax
Changes in each component of Accumulated other comprehensive income (loss), net of tax (“AOCI”) for the six months ended September 30, 2023 and 2024 are as follows:
 

 
 
 
 
 
 
 
 
 
 
  
Six months ended September 30,
 
 
  
  2023  
 
 
  2024  
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
AOCI, balance at beginning of period
      649,395       984,578  
Net unrealized gains (losses) on
available-for-sale
securities:
     
Balance at beginning of period
      (31,084 )      2,061  
Unrealized holding gains (losses) during period
      2,603       (7,526 )
 
Less: reclassification adjustments for losses (gains) included in net income
      (4,346 )      (2,560 )
  
 
 
    
 
 
  
Change during period
      (1,743 )      (10,085 )
  
 
 
    
 
 
  
Balance at end of period
      (32,827 )      (8,024 )
Foreign currency translation adjustments:
     
Balance at beginning of period
      227,660       467,864  
Foreign currency translation adjustments during period
      241,136       33,302  
Less: reclassification adjustments for losses (gains) included in net income
      —        (3,038 )
  
 
 
    
 
 
  
Change during period
      241,136       30,264  
  
 
 
    
 
 
  
Balance at end of period
      468,795       498,128  
Defined benefit plan adjustments:
     
Balance at beginning of period
      423,677       499,663  
Unrealized gains (losses) during period
      1,784       6,261  
Less: reclassification adjustments for losses (gains) included in net income
      (12,530 )      (15,611 )
  
 
 
    
 
 
  
Change during period
      (10,746 )      (9,350 )
  
 
 
    
 
 
  
Balance at end of period
      412,931       490,313  
Own credit risk adjustments:
     
Balance at beginning of period
      29,142       14,990  
Unrealized gains (losses) during period
      (13,133 )      6,467  
Less: reclassification adjustments for losses (gains) included in net income
      794       290  
  
 
 
    
 
 
  
Change during period
      (12,339 )      6,757  
  
 
 
    
 
 
  
Balance at end of period
      16,803       21,747  
Total other comprehensive income (loss), net of tax attributable to MHFG shareholders
      216,308       17,586  
  
 
 
    
 
 
  
AOCI, balance at end of period
      865,702       1,002,164  
  
 
 
    
 
 
  
 
F-3
0
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The following table shows the amounts reclassified out of AOCI into net income during the six months ended September 30, 2024:
 
   
Six months ended September 30, 2024
      
   
Before

tax 
(1)
    
Tax

effect 
(2)
    
Net of tax

before

allocation to

noncontrolling

interests
    
Net of tax

attributable to

noncontrolling

interests 
(2)
    
Net of tax

attributable to

MHFG

shareholders
      
                                   
   
(in millions of yen)
      
Amounts reclassified out of AOCI into net income:
             Affected line items in the consolidated statements of income:
Net unrealized gains (losses) on
available-for-sale
securities
  
 
3,358
 
     (798 )      2,560       —        2,560    
Investment gains
(losses)-net
Foreign currency translation adjustments
     3,041       —     
 
3,041
 
  
 
(3
) 
  
 
3,038
 
  
Foreign exchange gains
(losses)-net
Other noninterest income
Defined benefit plan adjustments
  
 
22,305
 
     (6,696 )      15,610       2       15,611    
Salaries and employee benefits
Own credit risk adjustments
  
 
(418
) 
     128       (290 )      —        (290 )   
Other noninterest income (expenses)
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
Total
     28,285       (7,366 )      20,920       (1 )      20,918    
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
Notes:
(1)
The financial statement line item in which the amounts in the before tax column are reported in the consolidated statements of income is listed to the right of the table.
(2)
The financial statement line items in which the amounts in the tax effect and the net of tax attributable to noncontrolling interest columns are reported in the consolidated statements of income are Income tax expense and Net income, respectively.
9. Regulatory matters
Regulatory capital requirements
MHFG, MHBK, and MHTB are subject to regulatory capital requirements supervised by the Financial Services Agency in accordance with the provisions of Japan’s Banking Act and related regulations. Certain foreign banking subsidiaries are subject to regulation and control by local supervisory authorities, including central banks. Failure to meet minimum capital requirements may initiate certain mandatory actions by regulators that, if undertaken, could have a direct material effect on the MHFG Group’s consolidated financial condition and results of operations.
 
F-3
1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Capital adequacy ratios and leverage ratios of MHFG, MHBK, and MHTB as of March 31, 2024 and September 30, 2024 calculated in accordance with Japanese GAAP and the guidelines established by the Financial Services Agency are set forth in the following table:
 
    
   March 31, 2024   
     
September 30, 2024
  
    
Amount
     
Ratio
     
 Amount 
     
 Ratio 
  
                             
    
(in billions of yen, except percentages)
  
Consolidated:
            
MHFG:
            
Common Equity Tier 1 capital:
            
Required
(1)
      5,883        8.09        5,664        8.12  
Actual
      9,259        12.73        9,554        13.69  
Tier 1 capital:
            
Required
(1)
      6,973        9.59        6,710        9.62  
Actual
      10,801        14.85        11,425        16.37  
Total risk-based capital:
            
Required
(1)
      8,428        11.59        8,106        11.62  
Actual
      12,314        16.93        13,013        18.65  
Leverage Ratio
(2)
:
            
Required
(3)
      8,028        3.50        8,404        3.70  
Actual
      10,801        4.70        11,425        5.02  
MHBK:
            
Common Equity Tier 1 capital:
            
Required
      2,968        4.50        2,860        4.50  
Actual
      7,431        11.26        7,856        12.35  
Tier 1 capital:
            
Required
      3,957        6.00        3,813        6.00  
Actual
      8,973        13.60        9,724        15.30  
Total risk-based capital:
            
Required
      5,276        8.00        5,084        8.00  
Actual
      10,400        15.76        11,262        17.71  
Leverage Ratio
(2)
:
            
Required
      6,382        3.00        6,593        3.15  
Actual
      8,973        4.21        9,724        4.64  
MHTB:
            
Common Equity Tier 1 capital:
            
Required
      74        4.50        69        4.50  
Actual
      476        28.98        488        31.71  
Tier 1 capital:
            
Required
      98        6.00        92        6.00  
Actual
      476        28.98        488        31.71  
Total risk-based capital:
            
Required
      131        8.00        123        8.00  
Actual
      476        28.99        489        31.72  
Leverage Ratio
(2)
:
            
Required
      123        3.00        121        3.15  
Actual
      476        11.62        488        12.65  
                             
 
F-3
2
MIZUHO FINANCIAL GROUP,
INC
. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
    
   March 31, 2024   
     
September 30, 2024
  
    
Amount
     
Ratio
     
 Amount 
     
 Ratio 
  
                             
    
(in billions of yen, except percentages)
  
                             
Non-consolidated:
            
MHBK:
            
Common Equity Tier 1 capital:
            
Required
      2,716        4.50        2,595        4.50  
Actual
      6,273        10.39        6,547        11.35  
Tier 1 capital:
            
Required
      3,621        6.00        3,460        6.00  
Actual
      7,805        12.93        8,405        14.57  
Total risk-based capital:
            
Required
      4,828        8.00        4,614        8.00  
Actual
      9,185        15.21        9,897        17.15  
Leverage Ratio
(2)
:
            
Required
      5,867        3.00        6,090        3.15  
Actual
      7,805        3.99        8,405        4.34  
MHTB:
            
Common Equity Tier 1 capital:
            
Required
      70        4.50        65        4.50  
Actual
      446        28.60        452        31.24  
Tier 1 capital:
            
Required
      93        6.00        86        6.00  
Actual
      446        28.60        452        31.24  
Total risk-based capital:
            
Required
      124        8.00        115        8.00  
Actual
      446        28.60        452        31.25  
Leverage Ratio
(2)
:
            
Required
      118        3.00        116        3.15  
Actual
      446        11.31        452        12.24  
 
Notes:
(1)
The required ratios
described
above, at March 31, 2024 and September 30, 2024, include the capital conservation buffer of 2.5%, the countercyclical capital buffer of 0.09% and 0.12%, respectively, and the additional loss absorbency requirements for global systemically important banks
(“G-SIBs”)
and domestic systemically important banks
(“D-SIBs”)
of 1.00%, which are all in addition to the regulatory minima. The respective required amounts are determined by applying the ratios to the sum of the risk weighted assets.
(2)
The required and actual amounts
described
above at March 31, 2024 and September 30, 2024 exclude amounts of deposits to the Bank of Japan.
(3)
The required ratios
described
above, at March 31, 2024 and September 30, 2024, include a leverage ratio buffer required to be met at 50% of the additional loss absorbency requirements applied to the Group as a
G-SIB
under the finalized Basel III reforms.
MHFG’s securities subsidiary in Japan is also subject to the capital adequacy requirement under Japan’s Financial Instruments and Exchange Act. Failure to maintain a minimum capital ratio will trigger mandatory regulatory actions.
 
F-3
3
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Management believes, as of each latest balance sheet date, that MHFG, MHBK, MHTB, and their securities subsidiary in Japan and foreign banking subsidiaries were in compliance with all capital adequacy requirements to which they were subject.
10. Earnings per common share
Basic earnings per common share are computed by dividing net income attributable to MHFG common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect all dilutive potential common shares such as stock options and the common shares of MHFG under the stock compensation programs.
The following table sets forth the computation of basic and diluted earnings per common share for the six months ended September 30, 2023 and 2024:

 
  
Six months ended

September 30,
 
 
  
  2023  
 
  
  2024  
 
 
  
 
 
  
 
 
 
  
(in millions of yen)
 
Net income:
  
  
Net income attributable to MHFG common shareholders
      307,013       563,176  
  
 
 
     
 
 
  
Effect of dilutive securities
      —        —   
  
 
 
     
 
 
  
Net income attributable to common shareholders after assumed conversions
      307,013       563,176  
  
 
 
     
 
 
  
    
Six months ended

September 30,
  
    
  2023  
     
  2024  
  
               
    
(thousands of shares)
  
Shares:
      
Weighted average common shares outstanding
      2,535,971       2,536,068  
  
 
 
     
 
 
  
Effect of dilutive securities:
      
Stock options and the common shares of MHFG under the stock compensation programs
      449       459  
  
 
 
     
 
 
  
Weighted average common shares after assumed conversions
      2,536,421        2,536,527  
  
 
 
     
 
 
  
    
Six months ended

September 30,
  
    
  2023  
     
  2024  
  
               
    
(in yen)
  
Earnings per common share:
      
Basic net income per common share
      121.06       222.07  
  
 
 
     
 
 
  
Diluted net income per common share
      121.04       222.03  
  
 
 
     
 
 
  
 

F-3
4
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
11. Income taxes
The following table presents the components of Income tax expense for the six months ended September 30, 2023 and 2024:

 
  
Six months ended
September 30,
 
 
  
  2023  
 
  
  2024  
 
 
  
 
 
  
 
 
 
  
(in millions of yen)
 
Current tax expense
      123,862        199,921  
Deferred tax expense
      54,427        28,554  
  
 
 
     
 
 
  
Total income tax expense
      178,289        228,475  
  
 
 
     
 
 
  
The preceding table does not reflect the tax effects of items recorded directly in Equity for the six months ended September 30, 2023 and 2024. The detailed amounts recorded directly in Equity are as follows:
 
 
  
Six months ended
September 30,
 
 
  
  2023  
 
 
  2024  
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Net unrealized gains (losses) on
available-for-sale
securities:
  
 
       
 
 
 
       
 
Unrealized gains (losses)
      521       (3,600 )
Less: reclassification adjustments
      (2,028 )      (798 )
  
 
 
    
 
 
  
Total
      (1,508 )      (4,399 )
  
 
 
    
 
 
  
Defined benefit plan adjustments:
     
Unrealized gains (losses)
      818       2,676  
Less: reclassification adjustments
      (5,419 )      (6,696 )
  
 
 
    
 
 
  
Total
      (4,601 )      (4,020 )
  
 
 
    
 
 
  
Own credit risk adjustments:
     
Unrealized gains (losses)
      (5,809 )      2,887  
Less: reclassification adjustments
      351       128  
  
 
 
    
 
 
  
Total
      (5,458 )      3,015  
  
 
 
    
 
 
  
Total tax effect before allocation to noncontrolling interests
      (11,567 )      (5,403 )
 
  
 
 
    
 
 
  
The statutory tax
rate was
 30.62% as of
both 
September 30, 2023 and 2024. The effective tax rates, 30.18% and 29.42% for the six months ended September 30, 2023 and 2024, respectively, differed from the statutory tax rates. The differences between the tax rates for the six months ended September 30, 2023 and 2024 were immaterial.
At September 30, 2024, the MHFG Group had net operating loss carryforwards totaling ¥413 billion.
The total amount of unrecognized tax benefits was ¥
6,999
 million at September 30, 2024, which would, if recognized, affect the Group’s effective tax rate. The Group classifies interest and penalties accrued relating to unrecognized tax benefits as Income tax expense.
 
F-3
5
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
An immaterial portion of unrecognized tax benefits at March 31, 2024 was resolved in the six months period ended September 30, 2024. The amount of additional unrecognized tax benefits for the period was also immaterial. The MHFG Group does not anticipate that increases or decreases of unrecognized tax benefits within the next twelve months would have a material effect on its consolidated results of operations or financial condition.
12. Pension and other employee benefit plans
The following table summarizes the components of net periodic benefit cost of the severance indemnities and pension plans of the MHFG Group for the six months ended September 30, 2023 and 2024:
 
 
  
Six months ended
September 30,
 
 
  
  2023  
 
 
  2024  
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Service cost-benefits earned during the period
      13,989       10,846  
Interest costs on
projected benefit obligations
      5,300       6,674  
Expected return
on plan assets
      (17,180 )      (15,661 )
Amortization of prior service cost (benefits)
      (2,444 )      (2,711 )
Amortization of net actuarial loss (gain)
      (14,513 )      (19,156 )
 
Special termination benefits
      2,014       365  
Other
      —        1,389  
  
 
 
    
 
 
  
Net periodic benefit cost
      (12,833 )      (18,253 )
  
 
 
    
 
 
  
In June 2024, based on various approvals, MHFG and certain domestic subsidiaries communicated to their employees an amendment to the defined benefit plans that was effective as of July 1, 2024. In accordance with ASC 715, “Compensation—Retirement Benefits” (“ASC 715”), any change in projected benefit obligations due to a plan amendment is required to be recognized as prior service benefits (cost) as of the amendment date. Accordingly, the MHFG Group recognized ¥9,360 million of pri
or ser
vice benefits for the six months ended September 30, 2024.
13. Derivative financial instruments
The MHFG Group enters into derivative financial instruments in response to the diverse needs of customers, to manage the risk related to the assets and liabilities of the Group, as part of its asset and liability management, and for proprietary trading purposes. The Group is exposed primarily to market risk associated with interest rate, commodity, foreign currency, and equity products. Market risk arises from changes in market prices or indices, interest rates and foreign exchange rates that may result in an adverse change in the market value of the financial instrument or an increase in its funding costs. Exposure to market risk is managed by imposing position limits and monitoring procedures and by initiating hedging transactions. In addition to market risk, the Group is exposed to credit risk associated with counterparty default or nonperformance in respect of transactions. Counterparty credit risk arises when a counterparty fails to perform according to the terms and conditions of the contract and the value of the underlying collateral held, if applicable, is not sufficient to recover resulting losses. The exposure to counterparty credit risk is measured by the fair value of all derivatives and its potential exposure at the balance sheet dates. The exposure to counterparty credit risk is managed by entering into legally enforceable master netting agreements to mitigate the overall counterparty credit risk, requiring underlying collateral and guarantees based on an individual credit analysis of each obligor and evaluating the credit features of each instrument. In addition, credit approvals, limits and monitoring procedures are also imposed.
 
F-3
6
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Notional and fair value amounts of derivative instruments
The following table summarizes the notional and fair value amounts of derivative instruments outstanding as of March 31, 2024 and September 30, 2024. The fair values of derivatives are presented on a gross basis; derivative receivables and payables are not offset. In addition, they are not offset against the amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under master netting agreements in the consolidated balance sheets, or the table below.

 
  
 
 
  
Fair value
 
 
  
 
 
  
Derivative receivables
(2)
 
  
Derivative payables
(2)
 
March 31, 2024
  
Notional amount 
(1)
 
  
Designated

as hedges
 
  
Not designated

as hedges
 
  
Designated

as hedges
 
  
Not designated

as hedges
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
  
(in billions of yen)
 
Interest rate contracts
      2,297,499          —         8,668          —         8,712  
Foreign exchange contracts
      300,337        —         5,612        —         5,582  
Equity-related contracts
      15,914        —         340        —         394  
Credit-related contracts
      22,969        —         214        —         180  
Other contracts
      1,039        —         40        —         50  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      2,637,757        —         14,874        —         14,918  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
           
Fair value
  
           
Derivative receivables
(2)
     
Derivative payables
(2)
  
September 30, 2024
   
Notional amount 
(1)
     
Designated

as hedges
     
Not designated

as hedges
     
Designated

as hedges
     
Not designated

as hedges
  
                                    
    
(in billions of yen)
  
Interest rate contracts
      2,443,182        —         8,529        —         8,353  
Foreign exchange contracts
      312,220        —         5,383        —         5,716  
Equity-related contracts
      16,110        —         275        —         355  
Credit-related contracts
      23,357        —         231        —         218  
Other contracts
      946        —         36        —         33  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      2,795,815          —         14,453          —         14,674  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
Notes:
(1)
Notional amount includes the sum of gross long and gross short third-party contracts.
(2)
Derivative receivables and payables are recorded in Trading account assets and Trading account liabilities, respectively.
The MHFG Group provided and/or accepted cash collateral for derivative transactions under master netting agreements. The cash collateral, which was not offset against derivative positions, was included in Other assets and Other liabilities, respectively, of which the amounts were ¥1,406 billion and ¥1,383 billion at March 31, 2024, and ¥1,541 billion and ¥1,076 billion at September 30, 2024, respectively.
Hedging activities
In order to qualify for hedge accounting, a derivative must be considered highly effective at reducing the risk associated with the exposure being hedged. Each derivative must be designated as a hedge, with documentation of the risk management objective and strategy, including identification of the hedging instrument, the hedged
 
F-3
7
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
item and the risk exposure, and how effectiveness is to be assessed prospectively and retrospectively. The extent to which a hedging instrument is effective at achieving offsetting changes in fair value or cash flows must be assessed at least quarterly. The MHFG Group’s hedging activities include net investment hedges.
Net investment hedges
The MHFG Group uses forward foreign exchange contracts and foreign currency-denominated debt instruments to protect the value of net investments in
non-Japanese
subsidiaries from foreign currency exposure. Under net investment hedges, both derivatives and nonderivative financial instruments qualify as hedging instruments. The foreign currency-denominated debt instruments qualifying as hedging instruments include deposits and long-term debt, of which the carrying amounts of the portion designated as net investment hedges are included within the respective items in the consolidated balance sheets as well as relevant accompanying notes. For net investment hedges, the entire change in the fair value of a hedging derivative instrument or nonderivative hedging financial instrument is recorded in Foreign currency translation adjustments within Accumulated other comprehensive income (loss), provided that the hedging instrument is designated as a hedge of the net investment. The gains and losses recorded in other comprehensive income (loss) related to net investment hedges were immaterial.
Derivative instruments not designated or qualifying as hedges
The MHFG Group enters into the following derivative transactions that do not qualify for hedge accounting with a view to implementing risk management strategies: (1) interest-rate swap transactions for the purpose of economically managing the interest-rate risks in deposits, loans, etc., (2) currency swap transactions for the purpose of economically managing the foreign exchange risk of these assets, (3) equity-related derivatives for the purpose of economically managing the risk of stock price fluctuation involved in holding equity products, and (4) credit derivatives for the purpose of economically managing the credit risk in loans, residential mortgage-backed securities (“RMBS”), commercial mortgage-backed securities (“CMBS”), collateralized loan obligations (“CLO”) and other similar assets. Such derivatives are accounted for as trading positions. The changes in fair value of these instruments are primarily recorded in Trading account gains (losses)—net, even though they are used to mitigate or transform the risk of exposures arising from banking activities. The net gains (losses) resulting from changes in the fair value of certain credit derivatives where the Group purchases protection to mitigate its credit risk exposure, related to its corporate loan portfolio, is recorded in Other noninterest income (expenses).
The following table summarizes gains and losses on derivatives not designated or qualifying as hedges during the six months ended September 30, 2023 and 2024:
 
    
Gains (losses) recorded in income

for six months ended September 30,
  
    
2023
    
2024
  
              
    
(in millions of yen)
  
Interest rate contracts
      134,778       (70,474 ) 
Foreign exchange contracts
      209,185       219,124  
Equity-related contracts
      341,589       167,248  
Credit-related contracts
(Note)
      27,400       (9,607 ) 
Other contracts
      (115,214 )      (7,436 ) 
  
 
 
    
 
 
  
Total
      597,737       298,856  
  
 
 
    
 
 
  
 
Note:
Amounts include the net gains (losses) of ¥(365) million and ¥(612) million on the credit derivatives economically managing the credit risk of loans during the six months ended September 30, 2023 and 2024, respectively.
 
F-3
8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Credit derivatives
A credit derivative is a bilateral contract between a seller and a buyer of protection against the credit risk of a particular entity. Credit derivatives generally require that the seller of credit protection make payments to the buyer upon the occurrence of predefined credit events, which include bankruptcy, dissolution or insolvency of the referenced entity. The MHFG Group either purchases or writes protection on either a single name or a portfolio of reference credits. The Group enters into credit derivatives to help mitigate credit risk in its corporate loan portfolio and other cash positions, to take proprietary trading positions, and to facilitate client transactions.
The notional amount of credit derivatives represents the maximum potential amount of future payments the seller could be required to make. If the predefined credit event occurs, the seller will generally have a right to collect on the underlying reference credit and the related cash flows, while being liable for the full notional amount of credit protection to the buyer. The Group manages credit risk associated with written protection by purchasing protection with identical or similar underlying reference credits, which substantially offsets its exposure. Thus, the notional amount is not necessarily a reliable indicator of the Group’s actual loss exposure.
The following table summarizes the notional and fair value amounts of credit derivatives at March 31, 2024 and September 30, 2024:
                                 
 
  
March 31, 2024
 
 
September 30, 2024
 
 
  
Notional amount
 
  
Fair value
 
 
Notional amount
 
  
Fair value
 
 
  
 
 
  
 
 
 
 
 
  
 
 
 
  
(in billions of yen)
 
Credit protection written:
  
      
  
      
 
      
  
      
Investment grade
      6,183        110       4,949        65  
Non-investment
grade
      3,962        37       5,617        108  
  
 
 
     
 
 
    
 
 
     
 
 
  
Total
      10,145        147       10,566        174  
  
 
 
     
 
 
    
 
 
     
 
 
  
Credit protection purchased
      12,824        (114 )      12,791        (161 )
 
  
 
 
     
 
 
    
 
 
     
 
 
  
 
Note:
The rating scale is based upon either the external ratings or the internal ratings of the underlying reference credit. The lowest investment grade rating is considered to be
BBB-,
while anything below or unrated is considered to be
non-investment
grade.
Non-investment
grade credit derivatives primarily consist of unrated credit default swap indices such as CDX and iTraxx.
The following table shows the maximum potential amount of future payments for credit protection written by expiration period at March 31, 2024 and September 30, 2024:
                 
 
  
Maximum payout/Notional amount
 
 
  
March 31, 2024
 
 
September 30, 2024
 
 
  
 
 
 
 
 
 
  
(in billions of yen)
 
One year or less
      1,254       1,307  
After one year through five years
      8,610       8,857  
After five years
      281        403  
  
 
 
    
 
 
  
Total
      10,145       10,566  
  
 
 
    
 
 
  
 
Note:
The maximum potential amount of future payments is the aggregate notional amount of the credit derivatives where the Group wrote the credit protection, and it has not been reduced by the effect of any amounts that the Group may possibly collect on the underlying assets and the related cash flows, nor netted against that of credit protection purchased.
 
F-
3
9
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Credit-related contingent features
Certain of the MHFG Group’s derivative instruments contain provisions that require the Group’s debt to maintain an investment grade credit rating from the major credit rating agencies. If the Group’s debt credit rating were to fall below investment grade, the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments which are in net liability positions for the Group.
The following table shows the quantitative information about derivative instruments with credit-risk-related contingent features at March 31, 2024 and September 30, 2024:
 
 
  
March 31,
2024
 
 
September 30,
2024
 
 
  
 
 
 
 
 
 
  
(in billions of yen)
 
Aggregate fair value of derivative instruments with credit-risk-related contingent features in net liability positions
      1,304        1,353  
Collateral provided to counterparties in the normal course of business
      1,025       1,162  
Amount required to be posted as collateral or settled immediately if credit-risk-related contingent features were triggered
      279       190  
14. Commitments and contingencies
Obligations under guarantees
The MHFG Group provides guarantees or indemnifications to counterparties to enhance their credit standing and enable them to complete a variety of business transactions. A guarantee represents an obligation to make payments to third parties if the counterparty fails to fulfill its obligation under a borrowing arrangement or other contractual obligation.
The Group records all guarantees and similar obligations subject to ASC 460, “Guarantees” (“ASC 460”) at fair value in the consolidated balance sheets at the inception of the guarantee.
The table below summarizes the maximum potential amount of future payments by type of guarantee at March 31, 2024 and September 30, 2024. The maximum potential amount of future payments disclosed below represents the contractual amounts that could be required to be repaid in the event of the guarantees being executed, without consideration of possible recoveries under recourse provisions or from collateral held. With respect to written options included in derivative financial instruments in the table below, in theory, the MHFG Group is exposed to unlimited losses; therefore, the table shows the notional amounts of the contracts as a substitute for the maximum exposure.
 
 
  
March 31,

   2024   
 
  
September 30,

    2024    
 
 
  
(in billions of yen)
 
Performance guarantees
      3,896        4,092  
Guarantees on loans
      348        201  
Guarantees on securities
      93        88  
Other guarantees
      3,543        3,294  
Guarantees for the repayment of trust principal
      16        14  
Liabilities of trust accounts
      599        613  
Derivative financial instruments
      113,108        72,908  
 
F-4
0
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The table below presents the maximum potential amount of future payments of performance guarantees, guarantees on loans, guarantees on securities and other guarantees classified based on internal ratings at March 31, 2024 and September 30, 2024:
 
 
  
March 31,

   2024   
 
  
September 30,

    2024    
 
 
  
(in billions of yen)
 
Investment grade
      6,095        5,797  
Non-investment
grade
      1,784        1,879  
  
 
 
     
 
 
  
Total
        7,879        7,676  
  
 
 
     
 
 
  
 
Note:
Investment grade in the internal rating scale generally corresponds to
BBB-
or above in the external rating scale.
Other
off-balance-sheet
instruments
In addition to guarantees, the MHFG Group issues other
off-balance-sheet
instruments to its customers, such as lending-related commitments and commercial letters of credit. Under the terms of these arrangements, the MHFG Group is required to extend credit or make certain payments upon the customers’ requests.
The table below summarizes the contractual amounts with regard to these undrawn commitments at March 31, 2024 and September 30, 2024:
 
 
  
March 31,

   2024   
 
  
September 30,

    2024    
 
 
  
(in billions of yen)
 
Commitments to extend credit
(Note)
      115,577        116,858  
Commercial letters of credit
      1,778        1,812  
  
 
 
     
 
 
  
Total
      117,355        118,670  
  
 
 
     
 
 
  
 
Note:
Commitments to extend credit include commitments to invest in securities.
Legal proceedings and investigations
The MHFG Group is involved in normal collection proceedings initiated by the Group, other legal proceedings and investigations in the ordinary course of business. In accordance with ASC 450, “Contingencies” (“ASC 450”), the Group recognizes a liability for loss contingencies arising from such proceedings and investigations when a loss is probable and the loss amount or the range of the loss can be reasonably estimated. However, if a loss is reasonably possible but the range of loss is not probable and reasonably estimable, the Group does not recognize a liability but discloses the detail of such proceedings and investigations. Based on the information available as of the date of the consolidated financial statements, the Group believes that the outcome of the collection, legal proceedings and investigations will not have a significant adverse effect on the consolidated financial statements.
15. Variable interest entities and securitizations
Variable interest entities
In the normal course of business, the MHFG Group is involved with VIEs primarily through the following types of transactions: asset-backed commercial paper/loan programs, asset-backed securitizations, investments in
 
F-4
1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
securitization products, investment funds, trust arrangements, and structured finance. The Group consolidates certain of these VIEs, where the Group is deemed to be the primary beneficiary because it has both (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Group reassesses whether it is the primary beneficiary on an ongoing basis as long as the Group has any continuing involvement with the VIE. There are also other VIEs, where the Group has determined that it is not the primary beneficiary but has significant variable interests. In evaluating the significance of the variable interests, the Group takes into consideration the extent of its involvement with each VIE, such as the seniority of its investments, the share of its holding in each tranche and the variability it expects to absorb, as well as other relevant facts and circumstances. The likelihood of loss is not necessarily relevant to the determination of significance, and therefore, “significant” does not imply that there is high likelihood of loss. The maximum exposure to loss that is discussed in this section refers to the maximum loss that the Group could possibly be required to record in its consolidated statements of income as a result of its involvement with the VIEs. This represents exposures associated with both
on-balance-sheet
assets and
off-balance-sheet
liabilities related to the VIEs. Further, this maximum potential loss is disclosed regardless of the probability of such losses and, therefore, it is not indicative of the ongoing exposure which is managed within the Group’s risk management framework.
The table below shows the consolidated assets of the MHFG Group’s consolidated VIEs as well as total assets and maximum exposure to loss for its significant unconsolidated VIEs, in which the Group has determined that its maximum exposure to loss is greater than specific thresholds or meets certain other criteria as of March 31, 2024 and September 30, 2024:
 
 
  
Consolidated VIEs
 
  
Significant

unconsolidated VIEs
 
March 31, 2024
  
Consolidated assets
 
  
Total assets
 
  
Maximum

exposure to loss
 
 
  
 
 
  
 
 
  
 
 
 
  
(in billions of yen)
 
Asset-backed commercial paper/loan programs
      3,370        —         —   
Asset-backed securitizations
      1,668        175        96  
Investments in securitization products
      385        —         —   
Investment funds
      1,908        6,322        1,113  
Trust arrangements and other
      5,300        —         —   
  
 
 
     
 
 
     
 
 
  
Total
      12,631        6,497        1,209  
  
 
 
     
 
 
     
 
 
  
    
Consolidated VIEs
     
Significant

unconsolidated VIEs
  
September 30, 2024
   
Consolidated assets
     
Total assets
     
Maximum

exposure to loss
  
    
(in billions of yen)
  
Asset-backed commercial paper/loan programs
     
2,985
        —         —   
Asset-backed securitizations
     
1,573
        188        102  
Investments in securitization products
     
384
        —         —   
Investment funds
     
1,725
        5,133        1,191  
Trust arrangements and other
     
5,085
        —         —   
  
 
 
     
 
 
     
 
 
  
Total
     
11,752
        5,321        1,293  
  
 
 
     
 
 
     
 
 
  
 
F-4
2
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
As of March 31, 2024 and September 30, 2024, the noncontrolling interests in consolidated VIEs amounted to ¥408 billion and ¥400 billion, respectively, and are included in the MHFG Group’s equity-classified noncontrolling interests.
The MHFG Group has not provided financial or other support to consolidated or unconsolidated VIEs that the Group was not previously contractually required to provide.
The tables below present the carrying amounts and classification of assets and liabilities on the MHFG Group’s balance sheets that relate to its variable interests in significant unconsolidated VIEs, as of March 31, 2024 and September 30, 2024:
 
Assets on the MHFG Group’s balance sheets related to unconsolidated VIEs:
  
March 31,

2024
 
  
September 30,

2024
 
 
  
 
 
  
 
 
 
  
(in billions of yen)
 
               
Trading account assets
      97        93  
Investments
      726        761  
Loans
      137        137  
  
 
 
     
 
 
  
Total
      960        990  
  
 
 
     
 
 
  
 
Liabilities on the MHFG Group’s balance sheets and maximum exposure to loss related to
unconsolidated VIEs:
  
March 31,

2024
 
  
September 30,

2024
 
 
  
 
 
  
 
 
 
  
(in billions of yen)
 
Trading account liabilities
      3        3  
  
 
 
     
 
 
  
Total
      3        3  
  
 
 
     
 
 
  
Maximum exposure to loss
(Note)
      1,209        1,293  
  
 
 
     
 
 
  
 
Note:
This represents the maximum amount the Group could possibly be required to record in its consolidated statements of income associated with
on-balance-sheet
exposures and
off-balance-sheet
liabilities such as undrawn commitments.
In the table above the nature of the MHFG Group’s variable interest can take different forms, as described further in the notes below. Additionally, the Group’s exposure to the obligations of VIEs is generally limited to its interest in these entities. In certain instances the Group provides undrawn commitments to the VIEs.
The MHFG Group’s maximum exposure to loss presented in the table above does not include the benefit of offsetting financial instruments that are held to mitigate the risks associated with these variable interests. Furthermore, the Group’s maximum exposure to loss presented in the table above is not reduced by the amount of collateral held as part of the transaction with the VIE or any party to the VIE directly against a specific exposure to loss.
Asset-backed commercial paper/loan programs
The MHFG Group manages several asset-backed commercial paper/loan programs that provide its clients with
off-balance-sheet
and/or cost-effective financing. The VIEs used in the programs purchase financial assets, primarily receivables, from clients participating in the programs and provide liquidity through the issuance of commercial paper or borrowings from the Group backed by the financial assets. While customers normally continue to service the transferred receivables, the Group underwrites, distributes, and makes a market in
 
F-4
3
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
commercial paper issued by the conduits. The Group typically provides program-wide liquidity and credit support facilities and, in some instances, financing to the VIEs. The Group has the power to determine which assets will be held by the VIEs and has an obligation to monitor these assets. The Group is also responsible for liability management. In addition, through the liquidity and credit support facilities provided to the VIEs, the Group has the obligation to absorb losses that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs.
Asset-backed securitizations
The MHFG Group acts as an arranger of various types of structured finance schemes to meet its clients’ needs for
off-balance-sheet
financing. In substantially all of these structured financing transactions, the transfer of the financial asset by the client is structured to be bankruptcy remote by use of a bankruptcy remote entity, which is deemed to be a VIE because its equity holder does not have decision making rights. The Group receives fees for structuring and/or distributing the securities sold to investors. In some cases, the Group itself purchases the securities issued by the entities and/or provides loans to the VIEs.
In addition, the MHFG Group establishes several single-issue and multi-issue special purpose entities that issue collateralized debt obligations (“CDO”) or CLO, synthetic CDO/CLO or other repackaged instruments to meet clients’ and investors’ financial needs. The Group also arranges securitization transactions including CMBS, RMBS and others. In these transactions, the Group acts as an underwriter, placement agent, asset manager, derivatives counterparty, and/or investor in debt and equity instruments.
In these cases, the MHFG Group considers that these variable interests are not significant as the Group does not have material balance sheet or
off-balance
exposure at risk related to these variable interests. However, when the Group has invested in securities issued by the VIEs and/or provides loans to the VIEs and its investment is most part of shares, such variable interests are deemed to be “significant.” In certain VIEs, where the Group provides liquidity and credit support facilities, writes credit protection or invests in debt or equity instruments in its role as an arranger, servicer, administrator or asset manager, etc., the Group has the power to determine which assets will be held by the VIEs or to manage and monitor these assets. In addition, through the variable interests above, the Group has the obligation to absorb losses and the right to receive benefits that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs.
The MHFG Group manages Tender Option Bond (“TOB”) programs which are associated with trusts that hold highly-rated, fixed-rate and
tax-exempt
municipal bonds. The trust finances the purchase of their municipal bonds by issuing two types of certificates: (1) short-term puttable and floating-rate certificates (“floaters”), typically purchased by money market funds and (2) certificates that earn all excess cash flow received by the trust after floaters and fees are paid (“residuals”), purchased by the transferor of the municipal bond to the trust as a sponsor. The Group is engaged in two types of TOB trusts: customer TOB trusts and
non-customer
TOB trusts. Customer TOB trusts are those for which the residuals are purchased by customers of the Group, whereas the residuals issued by
non-customer
TOB trusts are purchased by the Group. Both types of TOB trusts are deemed to be VIEs because its equity holder does not have decision making rights. The Group considers that it is a “significant” variable interest when the Group has the residuals as a sponsor and/or provides liquidity and credit support facilities. The Group often commits to provide liquidity to customer TOB trusts and the residual holders of customer TOB trusts are obligated to reimburse the Group for any payment the Group makes under those liquidity and credit support facilities. In
non-customer
TOB trusts, where the Group holds the residuals as a sponsor, the Group has the power to determine which assets will be held by the VIEs or to manage and monitor these assets. In addition, through the variable interests above, the Group has the obligation to absorb losses and
 
F-44
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
the right to receive benefits that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. Customer TOB trusts are not consolidated in the financial statements of the Group, as the residuals are held by customers and the Group does not have power to determine which assets will be held by the VIEs or to manage and monitor these assets.
Investments in securitization products
The MHFG Group invests in, among other things, various types of CDO/CLO, synthetic CDO/CLO and repackaged instruments, CMBS and RMBS arranged by third parties for the purpose of generating current income or capital appreciation, which all utilize entities that are deemed to be VIEs. By design, such investments were investment grade at issuance and held by a diverse group of investors. The potential loss amounts of the securities and the loans are generally limited to the amounts invested because the Group has no contractual involvement in such VIEs beyond its investments. Since the Group is involved in these VIEs only as an investor, the Group does not ordinarily have the power to direct the VIEs’ activities that most significantly impact the VIEs’ economic performance. Similar to the criteria noted in the asset-backed securitization section, the Group views this investment activity to be “significant” when it has a large investment share and/or provides loans to the VIEs. The Group consolidates VIEs, where the transactions are tailored by the third-party arrangers to meet the Group’s needs as a main investor, who is ultimately deemed to have the power to determine which assets are to be held by the VIEs. The Group also invests in certain beneficial interests issued by VIEs which hold real estate that the Group utilizes. In addition to these variable interests, when the Group has the power including the sole unilateral ability to liquidate the VIEs, the Group consolidates such VIEs.
Investment funds
The MHFG Group invests in various investment funds, including securities investment trusts, which collectively invest in equity and debt securities that include listed Japanese securities and investment grade bonds. Investment advisory companies or fund management companies, including the Group’s subsidiaries and affiliates, administer and make investment decisions about such investment funds. The Group considers that it is a “significant” variable interest when the Group’s investment share is greater than threshold. The Group consolidates certain investment funds where it is deemed to be the primary beneficiary.
The MHFG Group determines whether it is the primary beneficiary by evaluating whether it has both (1) the power to make investment decisions about the investment funds and (2) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the investment funds. The Group consolidates certain investment funds where it is deemed to be the primary beneficiary.
Trust arrangements
The MHFG Group offers a variety of asset management and administration services under trust arrangements including security investment trusts, pension trusts and trusts used in the securitization of assets originated by and transferred to third parties. The Group receives trust fees for providing services as an agent or fiduciary on behalf of beneficiaries. In these cases, the Group considers that these variable interests are not significant except for its specific involvement as noted below.
With respect to guaranteed principal money trust products, the MHFG Group assumes certain risks by providing guarantees for the repayment of principal as required by the trust agreements or relevant Japanese legislation. The Group manages entrusted funds primarily through the origination of high-quality loans and other credit-related products, investing in investment grade marketable securities such as Japanese government bonds and
 
F-45
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
placing cash with the Group’s subsidiary trust banks. The Group has the power to determine which assets will be held by the VIEs or to manage these assets. In addition, through the principal guarantee agreements, the Group has the obligation to absorb losses that could potentially be significant to the VIEs. Therefore, the Group consolidates such VIEs. However, the Group does not consolidate certain guaranteed principal money trusts, which invest all the entrusted funds in the Group itself, as the Group has determined that it has no variable interests. See Note 14 “Commitments and contingencies” for the balances of guaranteed trust principal that are not consolidated at March 31, 2024 and September 30, 2024.
With respect to
non-guaranteed
trust arrangements, the MHFG Group manages and administers assets on behalf of its customers (trust beneficiaries) in the capacity of a trustee and fiduciary. For substantially all
non-guaranteed
trust arrangements, the Group generally does not have the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance or has neither the obligation to absorb losses nor the right to receive benefits that could potentially be significant to the VIEs. Therefore, such trust accounts are not included in the consolidated financial statements of the Group.
The MHFG Group established a trust in August 2020, which holds the Group’s housing loans and in turn issues beneficiary interests to the Group. The Group pledges the beneficiary interests as a collateral for borrowing from the Bank of Japan. In its role as a servicer, the Group has power to direct the entity’s activities that most significantly impact the entity’s economic performance by managing mortgage loans owned by a trust. The Group considers that it is a “significant” variable interest since the Group can determine which assets will be held by the VIE. In addition, through the beneficiary interest, the Group has the obligation to absorb losses and the right to receive benefits that could potentially be significant to the VIE. Therefore, the Group consolidates the VIE.
Special purpose entities created for structured finance
The MHFG Group is involved in real estate, commercial aircraft and other vessel and machinery and equipment financing to VIEs and financing in securitized receivable. As the Group typically only provides senior financing with credit enhanced by subordinated interests and may sometimes act as an interest rate swap counterparty, the Group has determined that it does not have the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance, or it does not have significant variable interests. Therefore, the Group does not consolidate such VIEs.
Securitization
The MHFG Group engages in securitization activities and securitizes mortgage loans, other loans, government and corporate securities and other types of financial assets in the normal course of business. In these securitization transactions, the Group records the transfer of a financial asset as a sale when all the accounting criteria for a sale under ASC 860, “Transfers and Servicing” (“ASC860”) are met. These criteria are (1) the transferred financial assets are legally isolated from the Group’s creditors, (2) the transferee or beneficial interest holder has the right to pledge or exchange the transferred financial assets, and (3) the Group does not maintain effective control over the transferred financial assets. If all the criteria are not met, the transfer is accounted for as a secured borrowing.
For the six months ended September 30, 2023 and 2024, the MHFG Group neither made significant transfers of financial assets nor recognized significant gains or losses in securitization transactions accounted for as sales. Therefore, the Group did not have significant assets obtained as proceeds and significant liabilities incurred in the transfer. The Group did not recognize significant continuing involvement and retain significant interests in securitization transactions accounted for as sales as of March 31, 2024 and September 30, 2024.
 
F-4
6
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
16. Noninterest income
Details of Noninterest income for the six months ended September 30, 2023 and 2024 are as follows:

 
  
Six months ended September 30,
 
 
  
  2023  
 
 
  2024  
 
 
  
 
 
 
 
 
 
  
(in millions of yen)
 
Fee and commission income:
  
 
Securities-related business
(1)
      116,989       126,734  
Deposits-related business
(1)
      7,709       7,976  
Lending-related business
(2)(4)
      111,688       118,321  
Remittance business
(1)
      51,688       50,247  
Asset management business
(1)
      56,435       62,005  
Trust-related business
(1)
      62,172       63,978  
Agency business
(1)
      18,615       19,940  
Guarantee-related business
(3)
      20,866       23,200  
Fees for other customer services
(1)
      77,835       100,468  
  
 
 
    
 
 
  
Total Fee and commission income
      523,998       572,869  
  
 
 
    
 
 
  
Foreign exchange gains (losses)—net
(3)
      22,548       (120,497 )
 
Trading account gains (losses)—net
(2)
      (257,638 )      801,981  
Investment gains (losses)—net:
     
Debt securities
(3)
      4,403       12,139  
Equity securities
(3)
      490,375       (133,889 )
Equity in earnings (losses) of equity method investees—net
(3)
      46,741       9,086  
Gains on disposal of premises and equipment
(3)
      8,261       72,346  
Other noninterest income
(2) (5)
      152,903       123,285  
  
 
 
    
 
 
  
Total
      991,591     1,337,318  
  
 
 
    
 
 
  
 
Notes:
(1)
These amounts are revenues from contracts within the scope of ASC 606, “Revenue from contracts with customers” (“ASC 606”).
(2)
Part of these amounts are considered to be revenues from contracts that are within the scope of ASC 606.
(3)
These amounts are revenues from contracts that do not meet the scope of ASC 606.
(4)
Most of the lending-related fees such as commitment fees and arrangement fees are not within the scope of ASC 606.
(5)
These amounts include the net unrealized gains resulting from changes in fair values of structured notes that contain embedded derivatives. See Note 17 “Fair value” for further details.
Certain Fee and commission income, Trading account gains
(losses)-net
and Other noninterest income outlined in the table above are considered to be revenues from contracts that are within the scope of ASC 606. The MHFG Group disaggregates Fee and commission income, which is the main part of revenues within the scope of ASC 606, by type of business or service in the table above.
Fee and commission income
For the MHFG Group’s accounting policy for the recognition of Fee and commission income, see Note 1 “Basis of presentation and summary of significant accounting policies” to the consolidated financial statements in the Group’s most recent Form
20-F.
 
F-4
7
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Trust-related business fees consist of trust fees earned primarily through fiduciary asset management and administrative service and other trust-related fees, which amounted to ¥28 billion and ¥34 billion for the six months ended September 30, 2023, respectively, and ¥28 billion and ¥36 billion for the six months ended September 30, 2024, respectively.
Trading account gains (losses)—net and Other noninterest income
In addition to Fee and commission income, Trading account gains
(losses)-net
and Other noninterest income include certain revenues within the scope of ASC 606. Underwriting fees from trading securities, which amounted to ¥40 billion and ¥58 billion for the six months ended September 30, 2023 and 2024, respectively, are within the scope of ASC 606 and accounted for in Trading account gains
(losses)-net.
Underwriting fees are primarily recognized on the date which all the considerations of the transaction are fixed. For the six months ended September 30, 2023 and 2024, approximately ¥12 billion and ¥14 billion, respectively, of Other noninterest income were within the scope of ASC 606. Credit card interchange fees are within the scope of ASC 606 and accounted for in Other noninterest income. Credit card interchange fees are earned on credit card transactions conducted through payment networks and recognized upon settlement of the credit card payment transactions.
Contract balances relating to revenues from contracts with customers subject to ASC 606
Contract assets and receivables from contracts with customers subject to ASC 606 are recognized in Accrued income or accounts receivable of Other assets. As of March 31, 2024 and September 30, 2024, the balance of contract assets was not material. Contract liabilities are recognized in unearned income of Other liabilities. As of March 31, 2024 and September 30, 2024, the balance of contract liabilities was not material.
Remaining performance obligations relating to revenues from contracts with customers subject to ASC 606
Remaining performance obligations are services that the MHFG Group has committed to provide in the future in connection with its contracts with customers. As of March 31, 2024 and September 30, 2024, the amount of expected revenues from current obligations to provide services in the future was not material. It excludes revenues from contracts less than one year or contracts that have provisions that allow the Group to recognize revenue at the amount it has the right to invoice.
17. Fair value
Fair value measurements
ASC 820, “Fair Value Measurement” (“ASC 820”), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In addition, ASC 820 precludes (1) the deferral of gains and losses at inception of certain derivative contracts whose fair value was not evidenced by market-observable data, and (2) the use of block discounts when measuring the fair value of instruments traded in an active market, which were previously applied to large holdings of publicly traded financial instruments.
 
F-4
8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Fair value hierarchy
ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. The standard describes the following three levels of inputs that may be used to measure fair value:
 
Level 1    Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market.
Level 2    Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments. If no quoted market prices are available, the fair values of debt securities and
over-the-counter
derivative contracts in this category are determined using pricing models with inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
Level 3    Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
Valuation process
The MHFG Group has established valuation policies which govern the principles of fair value measurements and the authority and duty of each department. The Group has also established procedure manuals which describe valuation techniques and related inputs for determining the fair values of various financial instruments. The policies require that the measurement of fair values be carried out in accordance with the procedures performed by the risk management departments or the back offices which are independent from the front offices. The policies also require the risk management departments to assess whether the valuation methodologies defined in the procedure manuals are fair and proper and the internal audit departments to periodically review the compliance with the procedures throughout the Group. Although the valuation methodologies and related inputs are consistently applied from period to period, a change in the market environment sometimes leads to a change in the valuation methodologies and the inputs. For instance, a change in market liquidity due to a delisting or a new listing is one of the key drivers of revisions to the valuation methodologies and the inputs. The key drivers also include the availability or the lack of market observable inputs and the development of new valuation methodologies. Price verification performed through the Group’s internal valuation process has an important role in identifying whether the valuation methodologies and the inputs need to be changed. The internal valuation process over the prices broker-dealers provide, primarily for Japanese securitization products, is described in more detail below in
Available-for-sale
securities
. A change in the valuation methodologies and/or the inputs requires the revision of the valuation policies and procedure manuals, which is required to be approved by the appropriate authority, either the CEO, the head of risk management, and/or the head of accounting, depending on the nature and characteristics of the change.
 
F-
49
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The following is a description of valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis, including the general classification of such instruments pursuant to the fair value hierarchy and the MHFG Group’s valuation techniques used to measure fair values. During the six months ended September 30, 2024, there were no significant changes made to the Group’s valuation techniques and related inputs.
Trading securities and trading securities sold, not yet purchased
When quoted prices for identical securities are available in an active market, the Group uses the quoted prices to measure the fair values of securities and such securities are classified in Level 1 of the fair value hierarchy. Level 1 securities include highly liquid government bonds and equity securities. When quoted prices for identical securities are available, but not actively traded, such securities are classified in Level 2 of the fair value hierarchy. When no quoted market prices are available, the Group estimates fair values by using pricing models with inputs that are observable in the market and such securities are classified in Level 2 of the fair value hierarchy. Level 2 securities include Japanese local government bonds, corporate bonds, and commercial paper. When less liquid market conditions exist for securities, the quoted prices are stale or the prices from independent sources vary significantly, such securities are generally classified in Level 3 of the fair value hierarchy. The fair values of securitization products such as RMBS, CMBS, ABS, and CLO are determined primarily by using a discounted cash flow model. The key inputs used for the model include prepayment rates, default rates, recovery rates, and discount margin. Though most securitization products are classified in Level 2, if the significant inputs are unobservable or cannot be corroborated by observable market data, these financial instruments are classified in Level 3.
Hedge funds the Group invests in are primarily multi-strategy funds that employ a fundamental
bottom-up
investment approach across various asset classes globally. Hedge funds are measured at the net asset value (“NAV”) per share and the Group has the ability to redeem its investment with the investees at the NAV per share at the measurement date or within the near term. Private equity funds have specific investment objectives in connection with their acquisition of equity interests in new and emerging firms in need of capital. Employing venture capital strategies, they provide financing and other support to
start-up
businesses, medium and small entities in particular geographical areas, and to companies with certain technologies or companies in high-growth industries. Real estate funds invest globally and primarily in real estate companies, debt recapitalizations and direct property. Private equity funds and real estate funds are measured using the NAV per share practical expedient and the Group does not have the ability to redeem its investment in the investees at the NAV per share at the measurement date or within the near term. It is estimated that the underlying assets of the funds would be liquidated within a
ten-year
period.
Derivative financial instruments

Exchange-traded derivatives are valued using quoted market prices and consequently are classified in Level 1 of the fair value hierarchy. However, the majority of derivatives entered into by the Group are executed
over-the-counter
and are valued using internal valuation techniques as no quoted market prices are available for such instruments. The valuation techniques depend on the type of derivatives. The principal techniques used to value these instruments are discounted cash flow models and the Black-Scholes option pricing model, which are widely accepted in the financial services industry. The key inputs vary by the type of derivatives and the nature of the underlying instruments and include interest rate yield curves, foreign exchange rates, the spot price of the underlying, volatility and correlation. Each item is classified in either Level 2 or Level 3 depending on the observability of the significant inputs to the model. Level 2 derivatives include plain vanilla interest rate and
 
F-5
0
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
currency swaps and option contracts. Derivative contracts valued using significant unobservable correlation or volatility are classified in Level 3 of the fair value hierarchy. In addition, the Group records credit-risk valuation adjustments on
over-the-counter
derivatives to reflect the credit quality of its counterparties. The Group calculates these credit-risk valuation adjustments using modeled expected exposure, and default probabilities and severity factors that are developed from market credit spreads and other related market information. Also, the Group records funding valuation adjustments to reflect the impact of funding on uncollateralized
over-the-counter
derivatives and derivatives where the Group is not permitted to use the collateral received, and is recognized where there is evidence that a market participant would incorporate the adjustment into the transfer of the instrument. The Group calculates these funding valuation adjustments incorporating the expected future funding requirements arising from the Group’s positions and the estimated market funding cost which considers the Group’s credit risk. The Group measures these valuation adjustments based on net exposure of a group of financial assets and financial liabilities to credit risk.
Available-for-sale
securities
The fair values of
available-for-sale
securities are determined primarily using the same procedures described under trading securities above. Since private placement bonds have no quoted market prices, the fair values of such bonds are estimated based on a discounted cash flow model using interest rates approximating the current rates for instruments with similar maturities and credit risk. Private placement bonds are classified in either Level 2 or Level 3 depending on the observability of the significant inputs to the model, such as credit risk. The fair values of securitization products such as RMBS, CMBS and ABS are generally based upon single
non-binding
quoted prices from broker-dealers. Such quotes are validated through the Group’s internal processes and controls. In rare instances where the Group finds the quoted prices to be invalid through its internal valuation process, it adjusts those prices or alternatively estimates their fair values by using a discounted cash flow model to incorporate the Group’s estimates of key inputs such as the most recent value of each underlying asset, cash flows of the underlying assets, and discount margin. The validation of such prices varies depending on the nature and type of the products. For the majority of RMBS and ABS, broker quotes are validated by investigating significant unusual monthly valuation fluctuations and comparing to prices internally computed through discounted cash flow models using assumptions and parameters provided by brokers such as the cash flows of underlying assets, yield curve, prepayment speed and credit spread. For the majority of CMBS, the Group validates broker quotes through a review process that includes the investigation of significant unusual monthly valuation fluctuations and/or a review of underlying assets with significant differences between the valuations of the Group and the broker-dealers being identified. Though most securitization products are classified in Level 2, if the significant inputs are unobservable or cannot be corroborated by observable market data, these financial instruments are classified in Level 3.
Equity securities
Equity securities mainly consist of marketable equity securities. The fair values of the marketable equity securities are based upon quoted market prices for identical equity securities trading as securities in an active market. Equity securities also include investments in certain investment funds measured using the NAV per share practical expedient including private equity funds and real estate funds. These securities are determined primarily using the same procedures described under
Trading securities and trading securities sold, not yet purchased
above.
 
F-5
1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Other investments
Other investments consist of investments held by consolidated investment companies. These companies typically hold investments in marketable and
non-marketable
equity securities and debt securities. The fair value of the marketable equity securities is based upon quoted market prices. The fair value of the
non-marketable
equity securities is based upon significant management judgment, as very limited quoted prices exist. When evaluating such securities, the Group firstly considers recent market transactions of identical securities, if applicable. Thereafter, the Group uses commonly accepted valuation techniques such as earnings multiples based on comparable public securities.
Non-marketable
equity securities are generally classified in Level 3 of the fair value hierarchy. The fair value of the debt securities is estimated using a discounted cash flow model, since they have no quoted market prices. Those debt securities are classified in Level 3, because the credit risk is unobservable.
Other assets
Other assets measured at fair value consist of securities received as collateral that may be sold or repledged under securities lending transactions. The securities received as collateral under lending transactions mainly consist of certain foreign government bonds and securitization products which are valued using the valuation techniques described under
Trading securities and trading securities sold, not yet purchased
above.
Long-term debt and Other short-term borrowings
Fair value accounting is elected for certain debt instruments with embedded derivatives. The fair values are determined using a discounted cash flow model that considers the embedded derivatives and the terms and payment structures of the notes. The fair values of the derivatives embedded in such notes are primarily derived by using the same procedures described in
Derivative financial instruments
above. Such notes are classified in Level 2 or Level 3 depending on the observability of the significant inputs into the model used to determine the fair value of the embedded derivatives. The Group also measures certain notes that contain embedded derivatives at fair value under the practicability exception. For these instruments, fair value is based on quoted prices for identical debt traded as a security in inactive markets. These instruments are classified in Level 2 of the fair value hierarchy.
Other liabilities
Other liabilities measured at fair value consist of obligation to return securities received as collateral under securities lending transactions, which are measured at the fair value of the securities received as collateral. The securities consist primarily of certain foreign government bonds and securitization products, whose fair values are measured using the valuation techniques described under
Trading securities and trading securities sold, not yet purchased
above.
 
F-5
2
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Items measured at fair value on a recurring basis
Assets and liabilities measured at fair value on a recurring basis at March 31, 2024 and September 30, 2024, including those for which the MHFG Group has elected the fair value option, are summarized below:
 
March 31, 2024
   
Level 1
     
Level 2
     
Level 3
     
Assets/

Liabilities

measured

at fair value
  
                             
    
(in billions of yen)
  
Assets:
            
Trading securities
(1)
:
                                               
Japanese government bonds
      1,623        5        —         1,628  
Japanese local government bonds
      —         135        —         135  
U.S. Treasury bonds and federal agency securities
      3,534        1,468        —         5,002  
Other foreign government bonds
      676        897        —         1,572  
Agency mortgage-backed securities
      —         6,717        —         6,717  
Certificates of deposit and commercial paper
      —         351        —         351  
Corporate bonds and other
(2)
      —         3,208        189        3,397  
Equity securities
      2,743        209        21        2,973  
Trading securities measured at net asset value
(3)
               109  
Derivative financial instruments:
            
Interest rate contracts
      14        8,640        14        8,668  
Foreign exchange contracts
      —         5,610        2        5,612  
Equity-related contracts
      79        255        6        340  
Credit-related contracts
      —         213        1        214  
Other contracts
      21        9        10        40  
Available-for-sale
securities:
            
Japanese government bonds
      10,562        412        —         10,974  
Japanese local government bonds
      —         584        —         584  
U.S. Treasury bonds and federal agency securities
      147        —         —         147  
Other foreign government bonds
      922        1,122        —         2,045  
Agency mortgage-backed securities
      —         477        —         477  
Residential mortgage-backed securities
      —         24        8        31  
Commercial mortgage-backed securities
      —         801        4        804  
Japanese corporate bonds and other debt securities
      —         1,666        167        1,833  
Foreign corporate bonds and other debt securities
      —         795        23        818  
Equity securities:
            
Equity securities with readily determinable fair values
      4,165        296        —         4,461  
Equity securities measured at net asset value
(3)
               334  
Other investments
      1        —         80        80  
Other assets
      3        68        —         71  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total assets measured at fair value on a recurring basis
      24,489        33,961        525        59,419  
  
 
 
     
 
 
     
 
 
     
 
 
  
Liabilities:
            
Trading securities sold, not yet purchased
      3,445        2,258        —         5,703  
Derivative financial instruments:
            
Interest rate contracts
      14        8,697        1        8,712  
Foreign exchange contracts
      —         5,571        11        5,582  
Equity-related contracts
      105        213        76        394  
Credit-related contracts
      —         174        6        180  
Other contracts
      13        26        10        50  
Other short-term borrowings
(4)
      —         153        —         153  
Long-term debt
(4)
      —         2,450        427        2,876  
Other
liabilities
      3        68        —         71  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total liabilities measured at fair value on a recurring basis
      3,580        19,610        531        23,721  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
F-5
3
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
September 30, 2024
  
Level 1
 
  
Level 2
 
  
Level 3
 
  
Assets/

Liabilities

measured

at fair value
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
  
(in billions of yen)
 
Assets:
  
  
  
  
Trading securities
(1)
:
  
 
    
 
  
 
    
 
  
 
    
 
  
 
   
 
Japanese government bonds
      1,844       7       —        1,851  
Japanese local government bonds
      —        104       —        104  
U.S. Treasury bonds and federal agency securities
      5,047       1,550       —        6,598  
Other foreign government bonds
      898       1,085       —        1,983  
Agency mortgage-backed securities
      —        5,793       —        5,793  
Certificates of deposit and commercial paper
      —        721       —        721  
Corporate bonds and other
(2)
      —        3,140       187       3,327  
Equity securities
      2,752       116       22       2,890  
Trading securities measured at net asset value
(3)
              99  
Derivative financial instruments:
            
Interest rate contracts
      21       8,506       3       8,529  
Foreign exchange contracts
      —        5,373       10       5,383  
Equity-related contracts
      81       191       3       275  
Credit-related contracts
      —        230       1       231  
Other contracts
      14       14       8       36  
Available-for-sale
securities:
         
Japanese government bon
ds
      10,047       448       —        10,495  
Japanese local government bonds
      —        597       —        597  
U.S. Treasury bonds and federal agency securities
      144       —        —        144  
Other foreign government bonds
      1,334       1,280       —        2,614  
Agency mortgage-backed securities
      —        469       —        469  
Residential mortgage-backed securities
      —        16       7       23  
Commercial mortgage-backed securities
      —        755       4       758  
Japanese corporate bonds and other debt securities
      —        1,406       165       1,570  
Foreign corporate bonds and other debt securities
      —        840       23       863  
Equity securities:
           
Equity securities with readily determinable fair values
      3,234       518       —        3,751  
Equity securities measured at net asset value
(3)
              295  
Other investments
      2       —        87       89  
Other assets
 
 
 7
 
 
 
 51       29       87
 
  
 
 
     
 
 
    
 
 
    
 
 
  
Total assets measured at fair value on a recurring basis
      25,425       33,208       548       59,576  
  
 
 
     
 
 
     
 
 
     
 
 
  
Liabilities:
            
Trading securities sold, not yet purchased
      3,735       1,276       —        5,010  
Derivative financial instruments:
            
Interest rate contracts
      19       8,331       2       8,353  
Foreign exchange contracts
      —        5,714       2       5,716  
Equity-related contracts
      98       174       83       355  
Credit-related contracts
      —        209       8       218  
Other contracts
      18       10       6        33  
Other short-term borrowings
(4)
      —        332       —        332  
Long-term debt
(4)
      —        3,140        454       3,595  
Other liabilities
 
 
   7
 
 
 
  51
 
 
 
  29
 
 
 
  87
 
  
 
 
     
 
 
     
 
 
     
 
 
  
Total liabilities measured at fair value on a
recurring
basis
      3,877       19,237       584       23,698  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
F-5
4
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
 
Notes:
(1)
Trading securities include foreign currency denominated securities for which the MHFG Group elected the fair value option.
(2)
The amount includes CLO and convertible bonds, which are classified in Level 3.
(3)
In accordance with ASC 820, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented for these classes of assets are intended to permit the reconciliation of the fair value hierarchy to the amounts presented in the statements of financial position. The amounts of unfunded commitments related to these investments at March 31, 2024 and September 30, 2024 were ¥41 billion and ¥44 billion, respectively.
(4)
Amounts represent items for which the Group elected the fair value option or for which it applied the practicability exception.
Items measured at fair value on a recurring basis using significant unobservable inputs (Level 3)
The following table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended September 30, 2023 and 2024:
 
Six months ended
September 30, 2023
 
April 1,

2023
 
 
Gains

(losses) in

Earnings
 
 
Gains

(losses) in

OCI
 
 
Transfers

into

Level 3
 
 
Transfers

out of

Level 3
 
 
Purchases
 
 
Sales
 
 
Issuances
 
 
Settle-

ments
 
 
September 30,

2023
 
 
Change in

unrealized

gains

(losses)

still held 
(6)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in billions of yen)
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
Trading securities:
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
 
Corporate bonds and other
     47       3
 (2)
 		     —        —        (4 )
 
     140       (43 )     —        (22 )     122       1  
Equity securities
     21       1
 (2)
 		     —        —        —        1       (1 )
 
     —        (1 )     22       —   
Derivative financial instruments, net
(1)
:
                      
Interest rate contracts
     51       31
 (2)
 		     —        —        —        —        —        —        —        82       37  
Foreign exchange contracts
     14       (1 )
 (2)
 		     —        —        —        —        —        —        (17 )
 
     (4 )
 
     (7 )
 
Equity-related contracts
     (27 )
 
     (22 )
 (2)
 		     —        —        —        —        —        —        16       (33 )     18  
Credit-related contracts
     (1 )     — 
 (2)
 		     —        —        —        —        —        —        —        (2 )     —   
Other contracts
     2       (2 )
 (2)
 		     —        —        —        —        —        —        —        —        (1 )
Available-for-sale
securities:
                      
Residential mortgage-backed securities
     13       — 
 (3)
 		     —   
(4)
 		     —        —        —        (2 )     —        (2 )     9       —   
Commercial mortgage-backed securities
     —        — 
 (3)
 		     — 
 (4)
 		     —        —        3       —        —        —        3       —   
Japanese corporate bonds and other debt securities
     101       — 
 (3)
 		     10
 (4)
 		     —        —        100       —        —        (46 )     165       12  
Foreign corporate bonds and other debt securities
     90       — 
 (3)
 		     7
 (4)
 		     —        (2 )     9       —        —        (2 )     103       (1 )
Other investments
     63       1
 (3)
 		     —        —        —        46       —        —        (30 )     79       —   
Liabilities:
                      
Long-term debt
     836       (26 )
 (5)
 		     (14 )
 (4)
 		     1       (2 )     —        —        165       (271 )     769       (3 )
 
F-5
5
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Six months ended
September 30, 2024
  
April 1,

2024
    
Gains

(losses) in

Earnings
    
Gains

(losses) in

OCI
    
Transfers

into

Level 3
    
Transfers

out of

Level 3
    
Purchases
    
Sales
    
Issuances
    
Settle-

ments
    
September 30,

2024
    
Change in

unrealized

gains

(losses)

still held 
(6)
  
                                                                   
   
(in billions of yen)
  
Assets:
                      
Trading securities:
                      
Corporate bonds and other
     189       (4 )
 (2)
     —        —        (3 )      30       (22 )      —        (4 )      187       —   
Equity securities
     21       1
 (2)
 		     —        —        —        —        —        —        (1 )      22       1  
Derivative financial instruments, net
(1)
:
                      
Interest rate contracts
     13       (12 )
 (2)
 		     —        —        —        —        —        —        —        —        (13 ) 
Foreign exchange contracts
     (9 )      16
 (2)
 		     —        —        —        —        —        —        2       9       17  
Equity-related contracts
     (70 )      (19 )
 (2)
 		     —        —        —        —        —        —        8       (80 )      (22 ) 
Credit-related contracts
     (5 )      — 
 (2)
 		     —        —        —        —        —        —        (2 )      (7 )      (2 ) 
Other contracts
     —        2
 (2)
 		     —        —        —        —        —        —        —        2       2  
Available-for-sale
securities:
                      
Residential mortgage-backed securities
     8       — 
 (3)
 		     — 
 (4)
 		     —        —        —        —        —        (1 )      7       —   
Commercial mortgage-backed securities
     4       — 
 (3)
 		     — 
 (4)
 		     —        —        —        —        —        —        4       —   
Japanese corporate bonds and other debt securities
     167       — 
 (3)
 		     (2 )
 (4)
 		     —        —        2       —        —        (3 )      165       (2 ) 
Foreign corporate bonds and other debt securities
     23       — 
 (3)
 		     — 
 (4)
 		     —        —        —        —        —        —        23       —   
Other investments
     80       — 
 (3)
 		     —        —        (2 )      55       —        —        (45 )      87       (2 ) 
Other assets
     —        —        —        —        —        29       —        —        —        29       —   
Liabilities:
                      
Long-term debt
     427       13
 (5)
 		     3
 (4)
 		     7       —        —        —        137       (100 )      454       17  
Other liabilities
     —        —        —        —        —        —        —        29       —        29       —   
 
Notes:
(1)
Total Level 3 derivative exposures have been netted on the table for presentation purposes only.
(2)
Gains (losses) in Earnings are reported in Trading account gains
(losses)-net,
Foreign exchange gains
(losses)-net
or Other noninterest income (expenses).
(3)
Gains (losses) in Earnings are reported in Investment gains
(losses)-net.
(4)
Gains (losses) in OCI are reported in Other comprehensive income (loss).
(5)
Gains (losses) in Earnings are reported in Other noninterest income (expenses).
(6)
Amounts represent total gains or losses recognized in earnings and other comprehensive income (loss) during the period. These gains or losses were attributable to the change in fair value relating to assets and liabilities classified as Level 3 that were still held at September 30, 2023 and 2024. The amounts of unrealized gains (losses) in other comprehensive income (loss) are related to
Available-for-sale
securities and Long-term debt, which were ¥12 billion and ¥(14) billion, respectively, at September 30, 2023, and ¥(2) billion and ¥3
 
billion, respectively, at September 30, 2024.
Transfers between levels
During the six months ended September 30, 2023, the transfers into Level 3 included ¥1 billion of Long-term debt. Transfers into Level 3 for Long-term debt were primarily due to
the decrease
in the observability of the default rate when valuing certain structured loans. During the six months ended September 30, 2023, the transfers out of Level 3 included ¥4 billion of Trading securities, ¥2 billion of
Available-for-sale
securities and ¥2 
billion of Long-term debt. Transfers out of Level 3 for Trading securities were primarily due to increased price transparency for certain foreign bonds. Transfers out of Level 3 for
Available-for-sale
securities were primarily due to increased price transparency for certain Foreign corporate bonds and other debt securities. Transfers out of Level 3 for Long-term debt were primarily due to the increase in the observability of the default rate when valuing certain structured notes.
 
F-5
6
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
During the six months ended September 30, 2024, the transfers into Level 3 included ¥7 billion
of Long-term debt. Transfers into Level 3 for Long-term debt were primarily due to the decrease in the observability of the default rate when valuing certain structured
note
s. During the six months ended September 30, 202
4
, the transfers out of Level 3 included
 ¥3 billion of Trading
securities and
 ¥2 
billion of Other investments. Transfers out of Level 3 for Trading securities were primarily due to increased price transparency for certain foreign bonds. Transfers out of Level 3 for Other investments were primarily due to increased price transparency for certain investments.
Quantitative information about Level 3 fair value measurements
The following table presents information about significant unobservable inputs related to the MHFG Group’s material classes of Level 3 assets and liabilities at March 31, 2024 and September 30, 2024:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2024
 
           
Products/Instruments
  
Fair value
 
 
Principal valuation technique
  
Unobservable inputs
  
Range of input values
 
  
Average 
(4)
 
 
  
 
 
 
 
  
 
  
 
 
  
 
 
(in billions of yen, except for percentages and basis points)
 
Trading securities and
Available-for-sale
securities:
  
      
 
  
  
  
  
      
  
      
Residential mortgage-backed securities
  
 
 8
 
 
Discounted cash flow Price-based
  
Prepayment rate
  
 
0.4% - 6.2%
 
  
 
3.8%
 
 
  
      
 
  
  
Recovery rate
  
 
100.0% - 100.0%
 
  
 
100.0%
 
 
  
      
 
  
  
Discount margin
  
 
30.0bps - 65.0bps
 
  
 
40.1bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Commercial mortgage-backed securities
  
 
 4
 
 
Discounted cash flow Price-based
  
Discount margin
  
 
158.7bps - 291.4bps
 
  
 
234.2bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Corporate bonds and other debt securities
  
 
 380
 
 
Discounted cash flow Price-based
  
Prepayment rate
(1)
  
 
3.2% - 3.2%
 
  
 
3.2%
 
 
  
      
 
  
  
Default rate
(1)
  
 
0.4% - 0.4%
 
  
 
0.4%
 
 
  
      
 
  
  
Recovery rate
(1)
  
 
36.9% - 36.9%
 
  
 
36.9%
 
 
  
      
 
  
  
Discount margin
(1)
  
 
56.9bps - 56.9bps
 
  
 
56.9bps
 
 
  
      
 
  
  
Discount margin
(2)
  
 
38.2bps - 187.7bps
 
  
 
63.6bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Derivative financial instruments, net:
  
      
 
  
  
  
  
      
  
      
Interest rate contracts
  
 
 13
 
 
Internal valuation model
(3)
  
IR - IR correlation
  
 
23.2% - 100.0%
 
  
 
71.4%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Foreign exchange contracts
  
 
 (9
) 
 
Internal valuation model
(3)
  
FX - IR correlation
  
 
13.8% - 72.5%
 
  
 
29.9%
 
 
  
      
 
  
  
FX - FX correlation
  
 
39.0% - 64.7%
 
  
 
51.9%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Equity-related contracts
  
 
 (70
) 
 
Internal valuation model
(3)
  
Equity - IR correlation
  
 
25.0% - 25.0%
 
  
 
25.0%
 
 
  
      
 
  
  
Equity - FX correlation
  
 
15.0% - 60.0%
 
  
 
60.0%
 
 
  
      
 
  
  
Equity volatility
  
 
9.8% - 121.8%
 
  
 
42.1%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Credit-related contracts
  
 
 (5
) 
 
Internal valuation model
(3)
  
Default rate
  
 
0.0% - 6.4%
 
  
 
1.4%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Other contracts
  
 
— 
 
 
Internal valuation model
(3)
  
Commodity volatility
  
 
0.0% - 27.7%
 
  
 
23.7%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Long-term debt
  
 
 427
 
 
Internal valuation model
(3)
  
IR - IR correlation
  
 
23.2% - 100.0%
 
  
 
71.4%
 
 
  
      
 
  
  
FX - IR correlation
  
 
5.5% - 72.5%
 
  
 
29.9%
 
 
  
      
 
  
  
FX - FX correlation
  
 
39.0% - 64.7%
 
  
 
51.9%
 
 
  
      
 
  
  
Equity - IR correlation
  
 
25.0% - 25.0%
 
  
 
25.0%
 
 
  
      
 
  
  
Equity - FX correlation
  
 
-17.8% - 93.3%
 
  
 
0.0%
 
 
  
      
 
  
  
Equity correlation
  
 
32.2% - 100.0%
 
  
 
87.3%
 
 
  
      
 
  
  
Equity volatility
  
 
9.8% - 70.7%
 
  
 
25.8%
 
 
  
      
 
  
  
Default rate
  
 
0.0% - 9.5%
 
  
 
1.4%
 
 
F-5
7
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
September 30, 2024
 
Products/Instruments
  
Fair value
 
 
Principal valuation technique
  
Unobservable inputs
  
Range of input values
 
  
Average 
(4)
 
 
  
 
 
 
 
  
 
  
 
 
  
 
 
(in billions of yen, except for percentages and basis points)
 
Trading securities and
Available-for-sale
securities:
  
 
  
  
  
Residential mortgage-backed securities
  
 
 7
 
 
Discounted cash flow Price-based
  
Prepayment rate
  
 
0.4% - 5.7%
 
  
 
3.9%
 
  
 
  
Recovery rate
  
 
100.0% - 100.0%
 
  
 
100.0%
 
  
 
  
Discount margin
  
 
30.0bps - 52.0bps
 
  
 
39.9bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Commercial mortgage-backed securities
  
 
 4
 
 
Discounted cash flow Price-based
  
Discount margin
  
 
158.7bps - 291.4bps
 
  
 
234.3bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Corporate bonds and other debt securities
  
 
375
 
 
Discounted cash flow Price-based
  
Prepayment rate
(1)
  
 
3.3% - 3.3%
 
  
 
3.3%
 
  
 
  
Default rate
(1)
  
 
0.3% - 0.3%
 
  
 
0.3%
 
  
 
  
Recovery rate
(1)
  
 
36.9% - 36.9%
 
  
 
36.9%
 
  
 
  
Discount margin
(1)
  
 
51.9bps - 51.9bps
 
  
 
51.9bps
 
  
 
  
Discount margin
(2)
  
 
40.8bps - 140.4bps
 
  
 
80.0bps
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Derivative financial instruments, net:
  
 
  
  
  
Interest rate contracts
  
 
— 
 
 
Internal valuation model
(3)
  
IR - IR correlation
  
 
23.2% - 100.0%
 
  
 
71.4%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Foreign exchange contracts
  
 
 9
 
 
Internal valuation model
(3)
  
FX - IR correlation
  
 
13.8% - 72.5%
 
  
 
29.9%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Equity-related contracts
  
 
 (80
) 
 
Internal valuation model
(3)
  
Equity - IR correlation
  
 
25.0% - 25.0%
 
  
 
25.0%
 
  
 
  
Equity volatility
  
 
16.1% - 120.7%
 
  
 
39.1%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Credit-related contracts
  
 
 (7
) 
 
Internal valuation model
(3)
  
Default rate
  
 
0.0% - 7.0%
 
  
 
1.2%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Other contracts
  
 
 2
 
 
Internal valuation model
(3)
  
Commodity volatility
  
 
0.0% - 36.1%
 
  
 
31.1%
 
 
  
 
 
 
 
 
  
 
  
 
 
 
  
 
 
 
Long-term debt
  
 
 454
 
 
Internal valuation model
(3)
  
IR - IR correlation
  
 
23.2% - 100.0%
 
  
 
71.4%
 
  
 
  
FX - IR correlation
  
 
5.5% - 72.5%
 
  
 
29.9%
 
  
 
  
Equity - IR correlation
  
 
25.0% - 25.0%
 
  
 
25.0%
 
  
 
  
Equity - FX correlation
  
 
-17.8% - 93.3%
 
  
 
0.0%
 
  
 
  
Equity correlation
  
 
32.4% - 100.0%
 
  
 
88.1%
 
  
 
  
Equity volatility
  
 
10.0% - 110.6%
 
  
 
28.4%
 
  
 
  
Default rate
  
 
0.0% - 7.3%
 
  
 
1.3%
 
 
Notes:
(1)
These inputs are mainly used for determining the fair values of securitization
products
such as CDO, CLO and ABS, other than RMBS and CMBS.
(2)
This input is mainly used for determining the fair values of Japanese corporate bonds and foreign corporate bonds.
(3)
Internal valuation model includes discounted cash flow models and the Black-Scholes option pricing model.
(4)
Averages are calculated by weighting each input by the relative fair value of the respective financial instruments except for derivative related inputs where medians are used.
(5)
The range of inputs for equity securities is not disclosed, as there is a dispersion of values given the number of positions.
IR
= Interest rate
FX
= Foreign exchange
 
F-5
8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Uncertainty of fair value measurements relating to unobservable inputs and interrelationships among unobservable inputs
The following is a description of the uncertainty of the fair value measurements from the use of significant unobservable inputs and a description of interrelationships of the significant unobservable inputs used to measure the fair values of Level 3 assets and liabilities.
(1) Prepayment rate
The prepayment rate is the estimated rate at which voluntary unscheduled repayments of the principal of the underlying assets are expected to occur. The movement of the prepayment rate is generally negatively correlated with borrower delinquency. A change in prepayment rate would impact the valuation of the fair values of financial instruments either positively or negatively, depending on the structure of financial instruments.
(2) Default rate
The default rate is an estimate of the likelihood of not collecting contractual payments. An increase in the default rate would generally be accompanied by a decrease in the recovery rate and an increase in the discount margin. It would also generally impact the valuation of the fair values of financial instruments negatively.
(3) Recovery rate
The recovery rate is an estimate of the percentage of contractual payments that would be collected in the event of a default. An increase in recovery rate would generally be accompanied by a decrease in the default rate. It would also generally impact the valuation of the fair values of financial instruments positively.
(4) Discount margin
The discount margin is the portion of the interest rate over a benchmark market interest rate such as Tokyo Interbank Offered Rate (“TIBOR”) or swap rates. It primarily consists of a risk premium component which is the amount of compensation that market participants require due to the uncertainty inherent in the financial instruments’ cash flows resulting from credit risk. An increase in discount margin would generally impact the valuation of the fair values of financial instruments negatively.
(5) Correlation
Correlation is the likelihood of the movement of one input relative to another based on an established relationship. The change in correlation would impact the valuation of derivatives either positively or negatively, depending on the nature of the underlying assets.
(6) Volatility
Volatility is a measure of the expected change in variables over a fixed period of time. Some financial instruments benefit from an increase in volatility and others benefit from a decrease in volatility. Generally, for a long position in an option, an increase in volatility would result in an increase in the fair values of financial instruments.
 
F-
59
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Items measured at fair value on a nonrecurring basis
Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities primarily include items that are measured at the lower of cost or fair value, and items that were initially measured at cost and have been written down to fair value as a result of impairment. The following table shows the fair value hierarchy for these items as of March 31, 2024 and September 30, 2024:
 
March 31, 2024
  
Total
    
Level 1
    
Level 2
    
Level 3
    
Aggregate cost
  
   
(in billions of yen)
  
Assets:
          
Loans
     101       —        —        101       187  
Loans
held-for-sale
     95       —        2       94       150  
Equity securities (without readily determinable fair values)
     34       —        2       31       39  
Other investments
     153       —        —        153       199  
Premises and
equipment-net
     —        —        —        —        6  
Intangible assets
     —        —        —        —        1  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total assets measured at fair value on a nonrecurring basis
     383       —        4       379       581  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
September 30, 2024
  
Total
    
Level 1
    
Level 2
    
Level 3
    
Aggregate cost
  
   
(in billions of yen)
  
Assets:
          
Loans
     107       —        —        107       361  
Loans
held-for-sale
     109       —        46       64       150  
Equity securities (without readily determinable fair values)
     1       —        1       —        4  
Other investments
     79       79       —        —        97  
Premises and equipment-net
     —        —        —        —        1  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total assets measured at fair value on a nonrecurring basis
     296       79       47       170       612  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Note:
The fair values may not be current as of the dates indicated, but rather as of the date the fair value change occurred. Accordingly, the carrying values may not equal current fair value.
Loans in the table above are classified as nonaccrual and are measured based upon the observable market price of the loan, whi
ch
are classified as Level 2, or the fair value of the underlying collateral, which are classified as Level 3.
Loans
held-for-sale
in the table above are accounted for at the lower of cost or fair value at the end of the period. The items for which fair values are determined by using actual or contractually determined selling price data are classified as Level 2. Due to the lack of current observable market information, the determination of the fair values for items other than the aforementioned requires significant adjustment based upon management judgment and estimation, which results in such items being classified in Level 3 of the hierarchy. Loans
held-for-sale
classified as Level 3 were measured at fair value based on market comparables. The significant unobservable inputs were price, whose ranges were from ¥49.0 to ¥81.8 and from ¥30.0 to ¥99.5 at March 31, 2024 and September 30, 2024, respectively. The weighted averages were ¥63.1 and ¥68.1 at March 31, 2024 and September 30, 2024, respectively.
Equity securities (without readily determinable fair values) in the table above consist of
non-marketable
equity securities which are measured at fair value on a nonrecurring basis, using the measurement alternative for
non-marketable
equity securities. These equity securities are on a nonrecurring basis either (1) written down to
 
F-6
0
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
fair value as a result of impairment or (2) adjusted upward or downward to fair value as a result of transactions observed for the identical or similar securities of the same issuer. The fair values of the impaired
non-marketable
equity securities are determined primarily by using a liquidation value technique. As significant management judgment or estimation is required in the determination of the fair values of
non-marketable
equity securities, they are classified as Level 3. The fair values of
non-marketable
equity securities adjusted based on observed transaction prices are mainly classified as Level 2.
Other investments in the table above include certain equity method investments which have been impaired and written down to fair value. The fair values of the impaired marketable equity method investments are determined by their quoted market prices. As the securities are traded on an active exchange market, they are classified as Level 1. The fair values of the impaired
non-marketable
equity method investments are determined primarily by using a liquidation value technique. As significant management judgment or estimation is required in the determination of the fair values of
non-marketable
equity method investments, they are classified as Level 3. 
Premises and equipment–net and Intangible assets in the table above have been impaired and written down to fair value. There were no intangible assets measured at fair value on a nonrecurring basis as of September 30, 2024.
Fair value option
The MHFG Group elected the fair value option for certain eligible financial instruments described below.
Foreign currency denominated debt securities
The MHFG Group elected the fair value option for foreign currency denominated debt securities to mitigate the volatility in earnings due to the difference in the recognition of foreign exchange risk between foreign currency denominated debt securities and financial liabilities. Following the election of the fair value option, these debt securities are reported as trading securities in Trading account assets.
Certain hybrid financial instruments
The MHFG Group issues structured notes as part of its client-driven activities. Structured notes are debt instruments that contain embedded derivatives. The Group elected the fair value option for certain structured notes to mitigate accounting mismatches and to achieve operational simplifications. Fair value option has only been elected for part of the portfolio as the Group would not achieve operational simplifications. In addition, the Group measures certain notes that contain embedded derivatives at fair value under the practicability exception. These notes continue to be reported in Other short-term borrowings and Long-term debt. The interest on these notes continues to be reported in Interest expense on other short-term borrowings and long-term debt based on the contractual rates. Only an immaterial amount included in Other short-term borrowings and Long-term debt in the statement of financial position is not eligible for fair value option. The differences between the aggregate fair value of these notes and the aggregate unpaid principal balance of such instruments were ¥62 billion and ¥73 billion at March 31, 2024 and September 30, 2024, respectively. The net unrealized gains (losses) resulting from changes in fair values of these notes recorded in Other noninterest income (expenses) were of ¥34 billion and ¥(18) billion for the six months ended September 30, 2023 and 2024, respectively. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the Company’s current credit spreads observable in the bond market.
 
F-6
1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Fair value of financial instruments
ASC 825, “Financial Instruments” (“ASC 825”), requires the disclosure of the estimated fair value of financial instruments. The fair value of financial instruments is the amount that would be exchanged between willing parties, other than in a forced sale or liquidation. Quoted market prices, if available, are best utilized as estimates of the fair values of financial instruments. However, since no quoted market prices are available for certain financial instruments, fair values for such financial instruments have been estimated based on management’s assumptions, discounted cash flow models or other valuation techniques. Such estimation methods are described in more detail below. These estimates could be significantly affected by different sets of assumptions. There are certain limitations to management’s best judgment in estimating fair values of financial instruments and inherent subjectivity involved in estimation methodologies and assumptions used to estimate fair value. Accordingly, the net realizable or liquidation values could be materially different from the estimates presented below.
The following is a description of the valuation methodologies used for estimating the fair value of financial assets and liabilities not carried at fair value on the MHFG Group’s consolidated balance sheets.
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions
The carrying value of short-term financial assets, such as cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions approximates the fair value of these assets since they generally involve limited losses from credit risk or have short-term maturities with interest rates that approximate market rates.
Investments
The fair value of
held-to-maturity
securities is determined primarily by using the same procedures and techniques described for trading securities and
available-for-sale
securities aforementioned in this Note. The fair value of
non-marketable
equity securities is not readily determinable, nor practicable to estimate, due to the lack of available information. Their carrying amounts of ¥358 billion and ¥424 billion at March 31, 2024 and September 30, 2024, respectively, were not included in the disclosure.
Loans
Loans have been fair valued based on the type of loan, credit quality, prepayment assumptions and remaining maturity. The fair value of loans is determined based on discounted cash flows using interest rates approximating the MHFG Group’s current rates for similar loans. The fair value of collateral dependent nonaccrual loans is determined based on the fair value of the underlying collateral.
Other financial assets
The carrying value of other financial assets, which primarily consist of accounts receivable from brokers, dealers, and customers for securities transactions, accrued income and collateral provided for derivative transactions, approximates the fair value of these assets since they generally involve limited losses from credit risk or have short-term maturities with interest rates that approximate market rates. The majority of other financial assets is classified as Level 2, and included in the table in Note 6 “Other assets and liabilities.”
 
F-6
2
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions
The carrying value of short-term financial liabilities, such as noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions approximates the fair value of these liabilities since they generally have short-term maturities with interest rates that approximate market rates.
Interest-bearing deposits
The carrying value of demand deposits approximates the fair value since it represents the amount payable on demand at the balance sheet date. The fair value of time deposits and certificates of deposit is primarily estimated based on discounted cash flow analysis using current interest rates for instruments with similar maturities. The carrying value of short-term certificates of deposit approximates the fair value.
Due to trust accounts
The carrying value of due to trust accounts approximates the fair value since they generally have short-term maturities with interest rates that approximate market rates.
Other short-term borrowings
The carrying value of the majority of other short-term borrowings approximates the fair value since they generally have short-term maturities with interest rates that approximate market rates. The fair value of certain borrowings is estimated based on discounted cash flow analysis using interest rates approximating the MHFG Group’s incremental borrowing rates for instruments with similar maturities.
Long-term debt
Long-term debt is fair valued using quoted market prices, if available. Otherwise, the fair value of long-term debt is estimated based on discounted cash flow analysis using interest rates approximating the MHFG Group’s incremental borrowing rates for instruments with similar maturities.
Other financial liabilities
The carrying value of other financial liabilities, which primarily consist of accounts payable to brokers, dealers, and customers for securities transactions, accrued expenses and collateral accepted for derivative transactions, approximates the fair value since they generally have short-term maturities with interest rates that approximate market rates. The majority of other financial liabilities is classified as Level 2, and included in the table in Note 6 “Other assets and liabilities.”
The fair value of certain
off-balance-sheet
financial instruments, such as commitments to extend credit and commercial letters of credit, was not considered material to the consolidated balance sheets at March 31, 2024 and September 30, 2024.
 
F-6
3
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The following table shows the carrying amounts and fair values at March 31, 2024 and September 30, 2024, of certain financial instruments, excluding financial instruments which are carried at fair value on a recurring basis and those outside the scope of ASC 825 such as equity method investments as defined in ASC 323, “Investments-Equity Method and Joint Ventures” (“ASC 323”) and lease contracts as defined in ASC 842, “Leases” (“ASC 842”):
 
    
March 31, 2024
  
    
Carrying

amount
     
Estimated fair value
  
    
Total
     
Level 1
     
Level 2
     
Level 3
  
    
(in billions of yen)
  
Financial assets:
               
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions
      98,392        98,392        72,026        26,366        —   
Investments
      4,048        3,863        512        3,351        —   
Loans, net of allowance
(Note)
      97,519        98,868        —         —         98,868  
Financial liabilities:
               
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions
      78,030        78,030        —         78,030        —   
Interest-bearing deposits
      135,447        135,397        —         135,397        —   
Due to trust accounts
      246        246        —         246        —   
Other short-term borrowings
      3,492        3,492        —         3,492        —   
Long-term debt
      13,380        13,031        —         11,681        1,350  
    
September 30, 2024
  
    
Carrying

amount
     
Estimated fair value
  
    
Total
     
Level 1
     
Level 2
     
Level 3
  
    
(in billions of yen)
  
Financial assets:
               
Cash and due from banks, interest-bearing deposits in other banks, call loans and funds sold, and receivables under resale agreements and securities borrowing transactions
      98,753        98,753        70,645        28,108        —   
Investments
      4,064        3,951        451        3,500        —   
Loans, net of allowance
(Note)
      96,220        97,553        —         —         97,553  
Financial liabilities:
               
Noninterest-bearing deposits, call money and funds purchased, and payables under repurchase agreements and securities lending transactions
      78,575        78,575        —         78,575        —   
Interest-bearing deposits
      133,394        133,338        —         133,338        —   
Due to trust accounts
      341        341        —         341        —   
Other short-term borrowings
      3,962        3,962        —         3,962        —   
Long-term debt
      12,609        12,443        —         11,051        1,392  
 
Note:
Loans, net of allowance include items measured at fair value on a nonrecurring basis.
 
F-6
4
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
18. Offsetting of financial assets and financial liabilities
Derivatives
The MHFG Group enters into master netting arrangements such as International Swaps and Derivatives Association, Inc. (“ISDA”) or similar agreements with counterparties to manage mainly credit risks associated with counterparty default. If the predetermined events including counterparty default occur, these enforceable master netting arrangements or similar agreements give the Group the right to offset derivative receivables and derivative payables and related financial collateral such as cash and securities with the same counterparty.
Repurchase and resale agreements and securities lending and borrowing transactions
Repurchase and resale agreements and securities lending and borrowing transactions are generally covered by industry standard master repurchase agreements and industry standard master securities lending agreements with netting terms to manage mainly credit risks associated with counterparty default. In the event of default by the counterparty, these agreements with netting terms provide the Group with the right to offset receivables and payables related to such transactions with the same counterparty, and to liquidate the collateral held.
 
F-6
5
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The following table provides information about the offsetting of financial assets and financial liabilities at March 31, 2024 and September 30, 2024. The table includes derivatives, repurchase and resale agreements, and securities lending and borrowing transactions that are subject to enforceable master netting arrangements or similar agreements irrespective of whether or not they are offset on the Group’s consolidated balance sheets.
 
                     
Amounts not offset on

the balance sheet
(3)
        
   
Gross amounts

recognized
    
Gross amounts

offset on the

balance sheet
    
Net amounts

presented on the

balance sheet
(2)
    
Financial

instruments 
(4)
    
Cash

collateral
    
Net

amounts
  
   
(in billions of yen)
  
March 31, 2024
            
Assets
(1)
:
            
Derivatives
     14,874       —        14,874
(5)
 		     (11,525 )     (1,065 )     2,284  
Receivables under resale agreements
     20,535       —        20,535
(6)
 		     (19,431 )     —        1,103  
Receivables under securities borrowing
transactions
     2,352       —        2,352
(7)
 		     (2,261 )     —        91  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     37,761       —        37,761       (33,217 )     (1,065 )     3,478  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Liabilities
(1)
:
            
Derivatives
     14,918       —        14,918
(5)
 		     (10,941 )     (1,137 )     2,840  
Payables under repurchase agreements
     38,105       —        38,105
(6)
 		     (36,842 )     —        1,262  
Payables under securities lending transactions
     1,350       —        1,350
(7)
 		     (1,298 )     —        52  
Other liabilities
(8)
     71       —        71       (60 )     —        11  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     54,444       —        54,444       (49,142 )     (1,137 )     4,166  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
September 30, 2024
            
Assets
(1)
:
            
Derivatives
     14,453       —        14,453
(5)
 		     (11,570 )     (766 )     2,117  
Receivables under resale agreements
     22,659       —        22,659
(6)
 		     (21,090 )     —        1,569  
Receivables under securities borrowing
transactions
     2,176       —        2,176
(7)
 		     (2,136 )     —        40  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     39,289       —        39,289       (34,796 )     (766 )     3,726  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Liabilities
(1)
:
            
Derivatives
     14,674       —        14,674
(5)
 		     (11,272 )     (1,214 )     2,187  
Payables under repurchase agreements
     38,718       —        38,718
(6)
 		     (36,645 )     —        2,073  
Payables under securities lending transactions
     1,441       —        1,441
(7)
 		     (1,350 )     —        91  
Other liabilities
(8)
 
 
 87
 
 
 
 — 
 
 
 
 87
 
 
 
 (87 )
 
 
 — 
 
 
 
 — 
 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     54,920       —        54,920       (49,354 )     (1,214 )     4,351  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Amounts relating to master netting arrangements or similar agreements where the MHFG Group does not have the legal right of
set-off
or where uncertainty exists as to the enforceability of these agreements are excluded. For derivatives, the table includes amounts relating to
over-the-counter
(“OTC”) and
OTC-cleared
derivatives that are subject to enforceable master netting arrangements or similar agreements.
(2)
Derivative assets and liabilities are recorded in Trading account assets and Trading account liabilities, respectively.
(3)
Amounts do not exceed the net amounts presented on the balance sheet and do not include the effect of overcollateralization, where it exists.
(4)
For derivatives, amounts include derivative assets or liabilities and securities collateral that are eligible for offsetting under enforceable master netting arrangements or similar agreements.
 
F-6
6
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
(5)
The amounts of derivative assets and liabilities subject to enforceable master netting arrangements or similar agreements were
 ¥13,930 billion and ¥13,933 
billion, respectively, at March 31, 2024, and
 ¥13,749 billion and ¥13,914 billion, respectively, at September 30, 2024.
(6)
The amounts of Receivables under resale agreements and Payables under repurchase agreements subject to enforceable industry standard master repurchase agreements with netting terms were ¥19,470 billion and ¥37,042 billion, respectively, at March 31, 2024, and ¥21,410 billion and ¥36,853 billion, respectively, at September 30, 2024.
(7)
The amounts of Receivables under securities borrowing transactions and Payables under securities lending transactions subject to enforceable industry standard master lending agreements with netting terms were ¥2,352 billion and ¥1,303 billion, respectively, at March 31, 2024, and ¥2,174 billion and ¥1,360 billion, respectively, at September 30, 2024.
(8)
Amounts relate to transactions where the Group acts as lender in a securities lending agreement and receives securities that can be sold or pledged as collateral. In these transactions, the Group recognizes the securities received at fair value within Other assets and the obligation to return those securities as a liability within Other liabilities.
19. Repurchase agreements and securities lending transactions accounted for as secured borrowings
The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by remaining contractual maturity at March 31, 2024 and September 30, 2024:
 
    
Overnight and

continuous
     
Up to 30 days
     
31-90 days
     
Greater than

90 days
     
Total
  
    
(in billions of yen)
  
March 31, 2024
               
Repurchase agreements
      18,661        11,040        5,415        2,989        38,105  
Securities lending transactions
      1,288        19        —         44        1,350  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      19,949        11,058        5,415        3,033        39,455  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
September 30, 2024
               
Repurchase agreements
      17,041        13,259        6,469        1,949        38,718  
Securities lending transactions
      1,313        49        —         79        1,441  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      18,354        13,308        6,469        2,028        40,159  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
F-6
7
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The following table shows the gross amounts of liabilities associated with repurchase agreements and securities lending transactions, by class of underlying collateral at March 31, 2024 and September 30, 2024:
 
    
Repurchase

agreements
     
Securities lending

transactions
  
    
(in billions of yen)
  
March 31, 2024
      
Japanese government bonds and Japanese local government bonds
      6,167        102  
Foreign government bonds and foreign agency mortgage-backed securities
      28,757        19  
Commercial paper and corporate bonds
      913        —   
Equity securities
      1,609        1,229  
Other
      658        —   
  
 
 
     
 
 
  
Total
(Note)
      38,105        1,350  
  
 
 
     
 
 
  
September 30, 2024
      
Japanese government bonds and Japanese local government bonds
      5,216        83  
Foreign government bonds and foreign agency mortgage-backed securities
      30,971        49  
Commercial paper and corporate bonds
      801        —   
Equity securities
      1,186        1,309  
Other
      545        —   
  
 
 
     
 
 
  
Total
(Note)
      38,718        1,441  
  
 
 
     
 
 
  
 
Note:
The above table does not include
securities-for-securities
lending transactions of ¥71 billion at March 31, 2024,
and ¥87 billion at September 30, 2024,
where the MHFG Group acts as lender and receives securities that can be sold or pledged as collateral. In these transactions, the Group recognizes the securities received at fair value within Other assets and the obligation to return those securities as a liability within Other liabilities.
The MHFG Group is required to post securities as collateral with a fair value equal to or in excess of the principal amount of the cash borrowed under repurchase agreements. For securities lending transactions, the Group receives collateral in the form of cash. These contracts involve risks, including (1) the counterparty may fail to return the securities at maturity and (2) the fair value of the securities posted may decline below the amount of the Group’s obligation and therefore the counterparty may require additional amounts. The Group attempts to mitigate these risks by entering into transactions mainly with central counterparty clearing houses which revalue assets and perform margin maintenance activities on a regular basis, diversifying the maturities and counterparties, and using mainly highly liquid securities.
The amounts or composition of assets pledged as collateral for borrowings and for other purposes have not changed significantly since March 31, 2024. See Note 8 “Pledged assets and collateral” to the consolidated financial statements in the MHFG Group’s annual report on Form
20-F
for the year ended March 31, 2024 for additional information.
20. Business segment information
The MHFG Group consists of the following five
in-house
companies which are categorized based on a customer segment: the Retail & Business Banking Company (“RBC”); the Corporate & Investment Banking Company (“CIBC”); the Global Corporate & Investment Banking Company (“GCIBC”); the Global Markets Company (“GMC”); and the Asset Management Company (“AMC”). These customer segments are regarded as operating segments and constitute reportable segments.
 
F-6
8
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
The services that each
in-house
company provides are as follows.
RBC
This company provides financial services for individual customers, small and
medium-sized
enterprises and middle market firms in Japan.
CIBC
This company provides financial services for large corporations, financial institutions and public corporations in Japan.
GCIBC
This company provides financial services for Japanese overseas affiliated corporate customers and
non-Japanese
corporate customers.
GMC
This company invests in financial products with market risk, such as interest rate risk, equity risk, and credit risk.
AMC
This company develops financial products and provides financial services that match the asset management needs of its wide range of customers from individuals to institutional investors.
The reportable
segment
information, set forth below, is derived from the internal management reporting systems used by management to measure the performance of the Group’s operating segments. Management measures the performance of each of the operating segments in accordance with internal managerial accounting rules and practices. In addition, the format and information are presented primarily on the basis of Japanese GAAP. Therefore, they are not consistent with the consolidated financial statements prepared in accordance with U.S. GAAP. A reconciliation is provided for the total amount of all business segments’ “Net business profits (losses) + Net gains (losses) related to ETFs and others” with income before income tax expense under U.S. GAAP, and the total amount of all business segments’ “Fixed assets” with the total amount of Premises and
equipment-net,
Goodwill, Intangible assets, and
right-of-use
assets related to operating leases included in Other assets reported under U.S. GAAP. “Fixed assets” pertaining to MHBK, MHTB, and MHSC have been allocated to each segment.
 
F-
69
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
As background, effective as of April 1, 2023, MHFG partially restructured its
in-house
company system. CIBC was newly established through the integration of a former
in-house
company named the Corporate & Institutional Company and the investment banking functions of a former unit named the Global Products Unit. With the new establishment of C
IB
C above, a former
in-house
company named the Global Corporate Company changed its name to GCIBC. 
 
   
MHFG (Consolidated)
  
Six months ended
September 30, 2023 
(1)
  
  RBC  
    
  CIBC  
    
  GCIBC  
    
  GMC  
    
  AMC  
    
  Others 
(6)
  
    
  Total  
  
   
(in billions of yen)
  
Gross profits + Net gains (losses) related to ETFs and others
(2)
     347.9       261.6       344.4       285.1       27.5       64.4       1,331.2  
General and administrative expenses
(3)
     308.7       104.0       178.1       153.8       17.1       34.3       796.1  
Equity in earnings (losses) of equity method investees—net
     5.7       3.8       13.2       —        (0.9 )      1.6       23.5  
Amortization of goodwill and others
     —        0.4       0.4       —        3.2       0.1       4.2  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net business profits (losses)
(4)
+ Net gains (losses) related to ETFs and others
     44.9       161.1       179.1       131.3       6.2       31.6       554.3  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fixed assets
(5)
     498.9       152.3       188.9       86.4       —        781.9       1,708.6  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
   
MHFG (Consolidated)
  
Six months ended
September 30, 2024 
(1)
  
RBC
    
CIBC
    
GCIBC
    
GMC
    
AMC
    
Others 
(6)
    
Total
  
   
(in billions of yen)
  
Gross profits + Net gains (losses) related to ETFs and others
(2)
     379.8       301.2       385.1       401.3       29.5       64.4       1,561.5  
General and administrative expenses
(3)
     343.6       116.6       217.1       168.0       18.2       22.0       885.7  
Equity in earnings (losses) of equity method investees—net
     4.2       5.8       13.4       —        0.2       3.9       27.7  
Amortization of goodwill and others
     —        0.4       3.1       —        3.0       0.2       6.9  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net business profits (losses)
(4)
+ Net gains (losses) related to ETFs and others
     40.5       190.0       178.2       233.2       8.4       46.0       696.6  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fixed assets
(5)
     549.2       150.5       188.3       87.8       —        873.1       1,849.0  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Notes:
(1)
Income and expenses of foreign branches of MHBK and foreign subsidiaries with functional currencies other than Japanese Yen have been translated for purposes of segment reporting using the budgeted foreign currency rates. Prior period comparative amounts for such foreign currency income and expenses have been translated using current period budgeted foreign currency rates.
(2)
“Gross profits + Net gains (losses) related to ETFs and others” is reported instead of sales reported by general corporations. Gross profits is defined as the sum of net interest income, fiduciary income, net fee and commission income, net trading income and net other operating income. Net gains (losses) related to ETFs and others consist of net gains (losses) on ETFs held by MHBK and MHTB on their
non-consolidated
basis and net gains (losses) on operating investment securities of MHSC on its consolidated basis. For the six months ended September 30, 2023 and 2024, net gains (losses) related to ETFs and others amounted to ¥18.3 billion and ¥40.8 billion, respectively, of which ¥17.2 billion and ¥37.2 billion are included in GMC, respectively.
(3)
“General and administrative expenses” excludes
non-allocated
gains (losses), net.
 
F-7
0
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
(4)
Net business profits (losses) is used in Japan as a measure of the profitability of core banking operations, and is defined as gross profits (as defined above) less general and administrative expenses (excluding
non-allocated
gains (losses), net) plus equity in earnings (losses) of equity method
investees-net
less amortization of goodwill and others. Measurement of net business profits (losses) is required for regulatory reporting to the Financial Services Agency of Japan.
(5)
“Fixed assets” is presented based on Japanese GAAP and corresponds to the total amount of the following U.S. GAAP accounts: Premises and
equipment-net;
Goodwill; Intangible assets; and
right-of-use
assets related to operating leases included in Other assets. The above table does not include other asset amounts because “Fixed assets” is the only balance sheet metric that management uses when evaluating and making decisions pertaining to the operating segments. “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, consolidating adjustments, and others. Certain “Fixed assets” expenses have been allocated to each segment using reasonable allocation criteria.
(6)
“Others” includes the following items:
  •  
profits and expenses pertaining to consolidated subsidiaries that are not subject to allocation;
  •  
consolidating adjustments, including elimination of internal transaction between each segment;
  •  
equity in earnings (losses) of equity method
investees-net
that are not subject to allocation; and
  •  
profits and losses pertaining to derivative transactions that reflect the counterparty risk of the individual parties and other factors in determining fair market value.
 
F-7
1
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
Reconciliation
As explained above, the measurement bases of the internal management reporting systems and the income and expenses items included are different from the accompanying consolidated statements of income. Therefore, it is impracticable to present reconciliations of all the business segment’s information, other than net business profits (losses), to the corresponding items in the accompanying consolidated statements of income. A reconciliation of “Net business profits (losses) + Net gains (losses) related to ETFs and others” for the six months ended September 30, 2023 and 2024 presented above to income before income tax expense shown on the consolidated statements of income and a reconciliation of “Fixed assets” at September 30, 2023 and 2024 to the total amount of Premises and
equipment-net,
Goodwill, Intangible assets, and
right-of-use
assets related to operating leases included in Other assets are as follows:
 
 
  
Six months ended September 30,
 
 
  
   2023   
 
 
   2024   
 
 
  
(in billions of yen)
 
Net business profits (losses) + Net gains (losses) related to ETFs and others
      554.3       696.6  
  
 
 
    
 
 
  
Adjustment to reconcile management reporting to Japanese GAAP:
     
General and administrative expenses:
non-allocated
gains (losses), net
      17.4       15.5  
Expenses related to portfolio problems (including reversal of (provision for) general reserve for losses on loans)
      (10.2 )      (10.9 )
Gains on reversal of reserves for possible losses on loans, and others
      (0.7 )      25.6  
Net gains (losses) related to stocks—Net gains (losses) related to ETFs and others
      16.2       39.0  
Net extraordinary gains (losses)
      22.2       44.0  
Others
      (2.9 )      (18.8 )
  
 
 
    
 
 
  
Income before income tax expense under Japanese GAAP
      596.3       791.1  
Adjustment to reconcile Japanese GAAP to U.S. GAAP:
     
Derivative financial instruments and hedging activities
      76.0       (9.0 )
Investments
      (28.1 )      (57.5 )
Loans
      5.0       5.5  
Allowances for credit losses
      (3.3 )      5.4  
Premises and equipment
      (25.6 )      (20.8 )
Land revaluation
      3.2       36.5  
Business combinations
      2.0       3.9  
Pension liabilities
      (21.5 )      (17.8 )
Consolidation of variable interest entities
      44.8       29.8  
Foreign currency translation
      (58.3 )      10.7  
Others
      0.4       (1.2 )
 
  
 
 
    
 
 
  
Income before income tax expense under U.S. GAAP
        590.8       776.6  
  
 
 
    
 
 
  
 
F-7
2
Table of Contents
MIZUHO FINANCIAL GROUP, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)—(Continued)
 
 
  
As of September 30,
 
 
  
   2023   
 
  
   2024   
 
 
  
(in billions of yen)
 
Fixed assets
      1,708.6        1,849.0  
  
 
 
     
 
 
  
U.S. GAAP adjustments
(Note)
      627.3        591.6  
  
 
 
     
 
 
  
Premises and
equipment-net,
Goodwill, Intangible assets, and
right-of-use
assets related to operating leases included in Other assets
      2,335.9        2,440.7  
  
 
 
     
 
 
  
 
Note:
The U.S. GAAP adjustments are primarily comprised of GAAP differences mainly from
right-of-use
assets related to operating leases not recognized under Japanese GAAP; internally developed software, which was impaired under Japanese GAAP; land, which was revalued under Japanese GAAP; and the consolidation of certain variable interest entities, which are not consolidated under Japanese GAAP.
21. Subsequent events
Repurchase and Cancellation of own shares
At the meeting of the Board of Directors of MHFG (“the Board”) held on November 14, 2024, it was resolved to repurchase up to 50,000,000 shares of MHFG’s common stock by market purchases for ¥100 billion, in aggregate, from November 15, 2024, to February 28, 2025. The repurchase plan authorized by the Board allows for the repurchase of an aggregate amount of up to 50,000,000 shares, which represents the equivalent of 1.9% of the total number of common shares outstanding excluding its own shares, or of an aggregate repurchase amount of up to ¥100 billion. Also, on March 21, 2025, MHFG will cancel all the repurchased shares in accordance with the resolution adopted by the Board on November 14, 2024. The purpose of the repurchase and cancellation is to enhance the return of earnings to shareholders, to improve capital efficiency and to implement flexible capital policies.

 
F-7
3
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Directors of
Mizuho Financial Group, Inc.
Results of Review of Interim Consolidated Financial Statements
We have reviewed the accompanying consolidated balance sheet of Mizuho Financial Group, Inc. and subsidiaries (the “Company”) as of September 30, 2024, the related consolidated statements of income, comprehensive income, equity and cash flows for the
six-month
periods ended September 30, 2024 and 2023, and the related notes (collectively referred to as the “interim consolidated financial statements”). Based on our reviews, we are not aware of any material modifications that should be made to the interim consolidated financial statements for them to be in conformity with U.S. generally accepted accounting principles.
We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the consolidated balance sheet of the Company as of March 31, 2024, the related consolidated statements of income, comprehensive income, equity and cash flows for the year then ended, and the related notes (not presented herein); and in our report dated June 26, 2024, we expressed an unqualified audit opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of March 31, 2024, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.
Basis for Review Results
These interim consolidated financial statements are the responsibility of the Company’s management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our review in accordance with the standards of the PCAOB. A review of interim consolidated financial statements consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
/s/ Ernst & Young ShinNihon LLC
Tokyo, Japan
December 26, 2024
 
F-74
Table of Contents
Exhibit 15
December 26, 2024
To the Shareholders and Board of Directors of
Mizuho Financial Group, Inc.
We are aware of the incorporation by reference in the Registration
Statement
(Form F-3 No. 333-282497) of Mizuho Financial Group, Inc. of our repor
t
dated December 26, 2024 relating to the unaudited interim consolidated financial statements of Mizuho Financial Group, Inc. as of September 30, 2024 and for the six-month periods ended September 30, 2024 and 2023 that are included in its Form 6-K dated December 26, 2024.
Under Rule 436(c) of the Securities Act of 1933 (the “Act”), our review report is not a part of the registration statement prepared or certified by accountants within the meaning of Section 7 or 11 of the Act.
/s/ Ernst & Young ShinNihon LLC
Tokyo, Japan