Mizuho Financial Group(MFG) - 2022 Q3 - Quarterly Report

Financial Performance - For the nine months ended December 31, 2021, Mizuho Financial Group reported ordinary income of ¥2,345,453 million, an increase of 1.8% compared to ¥2,313,082 million for the same period in 2020[9]. - Profit attributable to owners of the parent for the nine months ended December 31, 2021 was ¥478,656 million, up 35% from ¥354,404 million in the previous year[9]. - Comprehensive income for the nine months ended December 31, 2021 was ¥250,949 million, a decrease from ¥576,850 million in the previous year[10]. - MHFG's gross profits for the nine months ended December 31, 2021 were ¥1,621,806 million, with net business profits of ¥610,724 million[44]. - For the nine months ended December 31, 2021, net business profits (excluding credit costs of trust accounts) increased to ¥684,531 million, up from ¥610,724 million in the same period of 2020, representing a growth of approximately 12%[49]. - Net income attributable to owners of the parent for the nine months ended December 31, 2021, was ¥478,656 million, compared to ¥354,404 million for the same period in 2020, reflecting a year-over-year increase of approximately 35%[61]. - The diluted net income per share of common stock for the nine months ended December 31, 2021, was ¥188.81, up from ¥139.76 in the previous year[61]. Assets and Liabilities - Total assets as of December 31, 2021 were ¥225,424,989 million, slightly down from ¥225,586,211 million as of March 31, 2021[7]. - The total liabilities decreased to ¥216,018,735 million as of December 31, 2021 from ¥216,224,003 million as of March 31, 2021[8]. - The net assets increased to ¥9,406,254 million as of December 31, 2021, compared to ¥9,362,207 million as of March 31, 2021[8]. - Total liabilities for guarantees on corporate bonds decreased to ¥1,263,877 million as of December 31, 2021, down from ¥1,407,731 million as of March 31, 2021[28]. Income Sources - Interest income for the nine months ended December 31, 2021 was ¥932,956 million, a decrease of 5.8% from ¥990,731 million in the same period of 2020[9]. - Fee and commission income rose to ¥648,856 million for the nine months ended December 31, 2021, up 9.9% from ¥590,013 million in the previous year[9]. - Gains on Sales of Stocks for the nine months ended December 31, 2021 amounted to ¥160,716 million, compared to ¥84,536 million for the same period in 2020[29]. - Extraordinary Gains from the Cancellation of Employee Retirement Benefit Trust increased to ¥66,331 million for the nine months ended December 31, 2021, up from ¥14,409 million for the same period in 2020[31]. - Losses on Sales of Stocks for the nine months ended December 31, 2021 were ¥123,590 million, significantly higher than ¥27,328 million for the same period in 2020[30]. Reserves and Provisions - Reserves for Possible Losses on Loans increased to ¥1,091,306 million as of December 31, 2021, compared to ¥812,457 million as of March 31, 2021, reflecting the impact of COVID-19[28]. - Provision for Reserves for Possible Losses on Loans for the nine months ended December 31, 2021 was ¥147,958 million, an increase from ¥91,254 million for the same period in 2020[30]. Dividends and Shareholder Returns - Cash dividends paid for the nine months ended December 31, 2021 totaled ¥196,746 million, with dividends per share increasing to ¥37.50 and ¥40.00 for the respective resolutions[37]. - The company declared interim cash dividends totaling ¥101,545 million, with an interim cash dividend per share of ¥40.00, effective December 7, 2021[64]. Accounting and Standards - Mizuho Financial Group has applied new accounting standards for revenue recognition starting from the first quarter ended June 30, 2021, impacting retained earnings[11]. - The company adopted the Consolidated Taxation System from the first quarter ended June 30, 2021, impacting its tax accounting practices[25]. Other Financial Metrics - General and administrative expenses (excluding non-recurring losses) increased to ¥1,029,300 million for the nine months ended December 31, 2021, compared to ¥1,029,300 million in the same period of 2020[49]. - The total contract value of over-the-counter interest rate swaps as of December 31, 2021, was ¥1,056,397,332 million, with a fair value of ¥175,900 million[53]. - Unrealized gains from currency-related transactions as of December 31, 2021, amounted to ¥96,857 million, compared to ¥13,705 million as of March 31, 2021[55]. - The company's equity in income from investments in affiliates for the nine months ended December 31, 2021, was ¥23,350 million[48]. - The net gains or losses related to ETFs and others amounted to ¥3,755 million, with ¥4,047 million included in the Global Markets Company[48].