Mizuho Financial : Financial Statements for the First Quarter of FY2023(Timely Disclosure)

For Immediate Release:

Consolidated Financial Statements for the First Quarter of Fiscal 2023

(Under Japanese GAAP)

Company Name:	Mizuho Financial Group, Inc. ("MHFG")	July 31, 2023
Stock Code Number (Japan):	8411
Stock Exchange Listings:	Tokyo Stock Exchange (Prime Market), New York Stock Exchange
URL:	https://www.mizuhogroup.com
Representative:	Masahiro Kihara	President & Group CEO
For Inquiry:	Yasutoshi Tanaka	General Manager of Accounting	Phone: [phone]
Filing of Shihanki Hokokusho (scheduled): August 14, 2023	Trading Accounts: Established
Commencement of Dividend Payment (scheduled): -

Supplementary Materials on Quarterly Results: Attached

IR Conference on Quarterly Results: Not Scheduled

Amounts less than one million yen are rounded down.

1. Financial Highlights for the First Quarter of Fiscal 2023 (for the three months ended June 30, 2023)

(1) Consolidated Results of Operations								(%: Changes from the corresponding period of the previous fiscal year)
				Ordinary Income					Ordinary Profits				Profit Attributable to Owners of Parent
				¥ million	%				¥ million	%				¥ million	%
1Q F2023				1,858,873	50.5				294,197	44.0			245,192	53.9
1Q F2022				1,235,090	67.5				204,237	(6.6)			159,294	(36.4)
Note: Comprehensive Income: 1Q F2023:	¥	467,256 million,		－ %;		1Q F2022:	¥ (66,832) million,	－ %
				Net Income						Diluted Net Income
			per Share of Common Stock		per Share of Common Stock
							¥					¥
1Q F2023							96.75					96.74
1Q F2022							62.85					62.85
(2) Consolidated Financial Conditions
				Total Assets						Total Net Assets				Own Capital Ratio
						¥ million					¥ million					%
1Q F2023						266,137,612					9,563,352					3.5
Fiscal 2022						254,258,203					9,208,463					3.5
Reference: Own Capital:	As of June 30, 2023:	¥ 9,489,901	million;		As of March 31, 2023:	¥ 9,133,294 million
Note: Own Capital Ratio is calculated as follows: (Total Net Assets - Stock Acquisition Rights - Non-controlling Interests) / Total Assets × 100
Own Capital Ratio stated above is not calculated based on the public notice of Own Capital Ratio.
2. Cash Dividends for Shareholders of Common Stock
									Annual Cash Dividends per Share
			First quarter-end		Second quarter-end		Third quarter-end		Fiscal year-end		Total
				¥				¥			¥				¥		¥
Fiscal 2022				－				42.50		－		42.50			85.00
Fiscal 2023				－
Fiscal 2023 (estimate)							47.50		－		47.50			95.00

Note: Revision of the latest announced estimates for cash dividends for shareholders of common stock : No

3. Consolidated Earnings Estimates for Fiscal 2023 (for the fiscal year ending March 31, 2024)

(%: Changes from the corresponding period of the previous fiscal year)

			Profit Attributable to Owners			Net Income
			of Parent			per Share of Common Stock
			¥ million	%		¥
	Fiscal 2023 H1		－	－		－
	Fiscal 2023		610,000	9.8		240.58

Notes: 1. Revision of the latest announced earnings estimates for fiscal 2023: No

2. The number of shares of common stock used in the above per share information is based on the weighted average of the average number of outstanding shares (excluding treasury stock) during 1Q and the number of outstanding shares (excluding treasury stock) as of June 30, 2023 (which is used as a proxy for the average number of outstanding shares during 2Q-4Q).

Notes

1. Changes in Significant Subsidiaries during the Period (changes in specified subsidiaries accompanying changes in the scope of consolidation): No
2. Adoption of Specified Accounting Methods for the Preparation of Quarterly Consolidated Financial Statements: No
3. Changes in Accounting Policies and Accounting Estimates / Restatements

• Changes in accounting policies due to revisions of accounting standards: Yes

• Changes in accounting policies other than ⅰ above: No ⅲ Changes in accounting estimates: No
  ⅳ Restatements: No

Note: For more information, please refer to "1.(1) Changes in Accounting Policies and Accounting Estimates / Restatements" on page 1-2 of the attachment.

1. Issued Shares of Common Stock

• Period-endissued shares (including treasury stock): ⅱ Period-end treasury stock:

ⅲ Average outstanding shares (first quarter):

As of June 30, 2023	2,539,249,894	shares	As of March 31, 2023	2,539,249,894	shares
As of June 30, 2023	4,457,406	shares	As of March 31, 2023	5,027,306	shares
1Q Fiscal 2023	2,534,288,787	shares	1Q Fiscal 2022	2,534,214,481	shares

This immediate release is outside the scope of quarterly review by certified public accountants or audit firms.

This immediate release contains statements that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets and plans. Such forward-looking statements do not represent any guarantee by management of future performance.

In many cases, but not all, we use such words as "aim," "anticipate," "believe," "endeavor," "estimate," "expect," "intend," "may," "plan," "probability," "project," "risk," "seek," "should," "strive," "target" and similar expressions in relation to us or our management to identify forward- looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.

We may not be successful in implementing our business strategies, and management may fail to achieve its targets, for a wide range of possible reasons, including, without limitation: impact of geopolitical disruptions and the corona virus pandemic; intensification of competition in the market for financial services; incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; decrease in the market liquidity of our assets; revised assumptions or other changes related to our pension plans; a decline in our deferred tax assets; impairment of the carrying value of our long-lived assets; problems related to our information technology systems, including as a result of cyber attacks; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels and meet other financial regulatory requirements; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our medium- term business plan and implement other strategic initiatives and measures effectively; the effectiveness of our operational, legal and other risk management policies; the effect of changes in general economic conditions in Japan and elsewhere; and changes to applicable laws and regulations.

Further information regarding factors that could affect our financial condition and results of operations is included in "Item 3.D. Key Information-Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC"), which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC's web site at www.sec.gov.

We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

Mizuho Financial Group, Inc.

○Contents of Attachment
1. Matters Related to Summary Information (Notes) ……………………………………………………	p. 1-2
(1) Changes in Accounting Policies and Accounting Estimates / Restatements ………………………	p. 1-2
2. Quarterly Consolidated Financial Statements and Others ……………………………………………	p. 1-3

1. Consolidated Balance Sheets ……………………………………………………………………… p. 1-3
2. Consolidated Statements of Income and Consolidated Statements of
   Comprehensive Income …………………………………………………………………………… p. 1-5
3. Note for Assumption of Going Concern …………………………………………………………… p. 1-7

(4) Note for Significant Changes in the Amount of Shareholders' Equity …………………………… p. 1-7

※SELECTED FINANCIAL INFORMATION For the First Quarter of Fiscal 2023

Note to XBRL

Please note that the names of the English accounts contained in XBRL data, which are available through EDINET and TDNet, may be different from those of the English accounts in our financial statements.

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Mizuho Financial Group, Inc.

1. Matters Related to Summary Information (Notes)

(1) Changes in Accounting Policies and Accounting Estimates / Restatements

(Implementation of ASU2016-13, "Measurement of Credit Losses on Financial Instruments")

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

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

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				Mizuho Financial Group, Inc.
2. Quarterly Consolidated Financial Statements and Others
(1) Consolidated Balance Sheets
				Millions of yen
		As of March 31, 2023		As of June 30, 2023
Assets
Cash and Due from Banks	¥	67,152,100	¥	61,332,175
Call Loans and Bills Purchased		1,386,895		1,086,934
Receivables under Resale Agreements		11,693,419		14,195,893
Guarantee Deposits Paid under Securities Borrowing Transactions		1,897,429		1,714,426
Other Debt Purchased		3,836,735		3,904,318
Trading Assets		17,404,494		21,268,265
Money Held in Trust		514,607		568,865
Securities		37,363,140		44,086,569
Loans and Bills Discounted		88,687,155		91,463,813
Foreign Exchange Assets		2,408,587		2,417,603
Derivatives other than for Trading Assets		2,184,875		3,368,259
Other Assets		8,689,547		9,288,004
Tangible Fixed Assets		1,105,851		1,099,825
Intangible Fixed Assets		572,719		584,742
Net Defined Benefit Asset		859,271		820,729
Deferred Tax Assets		316,168		294,050
Customers' Liabilities for Acceptances and Guarantees		8,905,643		9,312,235
Reserves for Possible Losses on Loans		(720,437)		(669,098)
Reserve for Possible Losses on Investments		(1)		(1)
Total Assets	¥	254,258,203	¥	266,137,612

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