Mizuho Financial Group(MFG) - 2023 Q3 - Quarterly Report

Financial Performance - For the nine months ended December 31, 2022, Mizuho Financial Group reported ordinary income of ¥4,308,147 million, a significant increase of 83.5% compared to ¥2,345,453 million for the same period in 2021[10] - Interest income for the same period rose to ¥2,050,840 million, up 120% from ¥932,956 million year-over-year[10] - The company's profit attributable to owners of the parent for the nine months ended December 31, 2022, was ¥543,277 million, representing an increase of 13.6% from ¥478,656 million in the previous year[10] - Trading income surged to ¥1,056,220 million for the nine months ended December 31, 2022, compared to ¥275,516 million for the same period in 2021, marking a growth of 283.5%[10] - Comprehensive income attributable to owners of the parent fell to ¥81,264 million for the nine months ended December 31, 2022, compared to ¥240,222 million for the same period in 2021[11] - The net business profits for the nine months ended December 31, 2021 were ¥684,531 million, with gross profits of ¥1,699,228 million[38] - For the nine months ended December 31, 2022, net business profits (excluding credit costs of trust accounts) were ¥681,858 million, a slight decrease from ¥684,531 million in the same period of 2021[43] - The income before income taxes recorded in the Quarterly Consolidated Statement of Income for the nine months ended December 31, 2022, was ¥689,961 million, up from ¥555,106 million in the same period of 2021[43] Assets and Liabilities - The total assets of Mizuho Financial Group increased to ¥251,791,239 million as of December 31, 2022, compared to ¥237,066,142 million as of March 31, 2022, reflecting a growth of 6.2%[8] - Total liabilities increased to ¥242,762,605 million as of December 31, 2022, up from ¥227,865,110 million as of March 31, 2022, indicating a rise of 6.5%[9] - The company reported a total shareholders' equity of ¥8,468,742 million as of December 31, 2022, an increase from ¥8,130,185 million as of March 31, 2022[9] - The balance sheet amount of Japanese government bonds as of December 31, 2022, was ¥14,722,551 million, down from ¥25,158,730 million as of March 31, 2022[48] Securities and Investments - The net unrealized gains (losses) on other securities decreased significantly to ¥230,046 million as of December 31, 2022, down from ¥719,822 million as of March 31, 2022[9] - The net gains related to ETFs and others for the nine months ended December 31, 2022, amounted to ¥41,933 million, compared to a loss of ¥33,577 million in the previous year[43] - The total net business profits for the nine months ended December 31, 2022, included net gains related to stocks amounting to ¥41,933 million, a significant recovery from the previous year's losses[43] Dividends and Shareholder Returns - Cash dividends paid for the nine months ended December 31, 2022 totaled ¥209,431 million, with dividends per share of ¥40.00 and ¥42.50 for the respective resolutions[32] - The total amount of interim cash dividends declared was ¥107,889 million, with an interim cash dividend per share of ¥42.50[63] Risk Management and Provisions - The expected losses recognized as Reserve for Possible Losses on Loans to Restructuring Countries for the nine months ended December 30, 2022 amounted to ¥41,894 million, including ¥40,360 million related to claims against Russia[22] - For the nine months ended December 31, 2022, the provision for Reserves for Possible Losses on Loans was ¥51,290 million, a decrease from ¥147,958 million for the same period in 2021[28] - Total claims against bankrupt and substantially bankrupt obligors decreased from ¥50,846 million as of March 31, 2022 to ¥45,035 million as of December 31, 2022[26] - The total amount of claims with collection risk decreased from ¥722,222 million as of March 31, 2022 to ¥655,316 million as of December 31, 2022[26] Revenue Streams - Deposits and Lending business revenue grew from ¥189,551 million to ¥213,062 million, an increase of 12.4%[59] - Other Ordinary Income surged from ¥1,651,841 million to ¥3,624,144 million, a significant increase of 119.5%[59] - Securities-related business revenue declined from ¥155,963 million to ¥124,406 million, a decrease of 20.3%[59] - Trust-related business revenue decreased from ¥61,358 million to ¥50,599 million, a decline of 17.5%[59] Stock and Share Information - As of December 31, 2022, MHFG's carrying amount of Treasury Stock was ¥5,127 million for 3,232 thousand shares, an increase from ¥4,949 million for 3,079 thousand shares as of March 31, 2022[19] - Average Outstanding Shares of Common Stock slightly decreased from 2,534,973 thousand shares to 2,534,327 thousand shares[61] - The number of shares for Diluted Net Income per Share decreased from 67 thousand shares to 19 thousand shares[61] - Net Income per Share of Common Stock rose from ¥188.82 to ¥214.36, reflecting an increase of 13.5% year-over-year[61] - Profit Attributable to Owners of Parent increased from ¥478,656 million to ¥543,277 million, marking a growth of 13.5%[61] Expenses - General and administrative expenses (non-recurring losses) increased to ¥30,610 million for the nine months ended December 31, 2022, compared to ¥27,901 million in the previous year[43] - The amount of losses on sales of stocks for the nine months ended December 31, 2022 was ¥42,094 million, down from ¥123,590 million in the same period of 2021[28] - The amortization of goodwill for the nine months ended December 31, 2022 was ¥2,903 million, an increase from ¥2,810 million for the same period in 2021[31]