FY22 Q1 Financial Results (Under Japanese GAAP)
July 29, 2022
This presentation contains statements that constitute forward-looking statements including estimates, forecasts, targets and plans. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions. Such forward- looking statements do not represent any guarantee of future performance by management.
Further information regarding factors that could affect our financial condition and results of operations is included in our most recent Form 20-F and our report on Form 6-K.
Abbreviations | Foreign exchange rate | |||||||||||||
FG : Mizuho Financial Group, Inc. | RBC : Retail & Business Banking Company | Management accounting | Financial accounting (TTM at the respective | |||||||||||
BK : Mizuho Bank, Ltd. | CIC : Corporate & Institutional Company | period end) | ||||||||||||
Planned rate | Jun-21 | Mar-22 | Jun-22 | |||||||||||
TB : Mizuho Trust & Banking Co., Ltd. | GCC : Global Corporate Company | |||||||||||||
USD/JPY | 127.00 | USD/JPY | 110.61 | 122.41 | 136.69 | |||||||||
SC : Mizuho Securities Co., Ltd. | GMC : Global Markets Company | |||||||||||||
AM-One : Asset Management One Co., Ltd | AMC : Asset Management Company | EUR/JPY | 131.63 | 136.77 | 142.65 | |||||||||
EUR/JPY | 140.97 | |||||||||||||
Definitions | ||||||||||||||
Consolidated Net Business Profits: | Consolidated Gross Profits - G&A Expenses (excl. Non-Recurring Losses) + Equity in Income from | |||||||||||||
Investments in Affiliates and certain other consolidation adjustments | ||||||||||||||
Net Gains (Losses) related to ETFs and others: | Total of Net Gains (Losses) related to ETFs (2 Banks) and Net Gains (Losses) on Operating Investment Securities | |||||||||||||
(SC Consolidated) | ||||||||||||||
Customer Groups: | Aggregate of preliminary figures of RBC, CIC, GCC and AMC | |||||||||||||
Markets: | Preliminary figures of GMC | |||||||||||||
G&A Expenses (excl. Non-Recurring Losses and others): | G&A Expenses (excl. Non-Recurring Losses) - Amortization of Goodwill and other items | |||||||||||||
Net Income attributable to FG: | Profit Attributable to Owners of Parent | |||||||||||||
Group aggregate: | BK + TB + SC + other major subsidiaries on a non-consolidated basis (management accounting) | |||||||||||||
2 Banks: | BK + TB on a non-consolidated basis (financial accounting) | |||||||||||||
2 |
Summary of Financial Results
(JPY B)
Consolidated Gross Profits +
Net Gains (Losses) related to ETFs and others1
G&A Expenses
(excl. Non-Recurring Losses and others)
Consolidated Net Business Profits +
1
Net Gains (Losses) related to ETFs and others o/w Customer Groups
o/w Markets
(Consolidated Net Business Profits)
Credit-related Costs
Net Gains (Losses) related to Stocks -
Net Gains (Losses) related to ETFs and others1
Ordinary Profits
Net Extraordinary Gains (Losses)
Net Income Attributable to FG
FY22 Q1 | YoY |
593.1 +53.5
-358.5-15.1
237.3 +30.5
2
146.4 +7.0
2
- +17.7
- +41.7
-64.8-67.5
- +7.6
- -14.5
3
- -24.3
- -91.2
Consolidated Net Business Profits +
Net Gains (Losses) related to ETFs and others:
Steady performance both in Customer Groups and Markets contributed to +14% increase YoY. Steady progress of 27% towards the FY22 Plan of JPY 860.0B.
Net Income Attributable to FG:
Increase in Credit-related Costs and lack of special factors such as
tax effects4resulted in YoY decrease, while steady build-up in earnings from core operations contributed to progress of 29% towards the FY22 Plan of JPY 540.0B.
Net Income of core group companies
FY22 Q1 | YoY | |
BK (Consolidated)5 | 143.2 | +15.7 |
TB (Consolidated) | 4.0 | -2.9 |
SC (Consolidated) | 12.1 | -5.0 |
AM-One | 5.5 | +0.9 |
- Net Gains (Losses) related to ETFs and others were JPY 1.2B (-JPY 11.2B YoY). 2. New management accounting rules were applied in FY22. Figures of YoY were recalculated based on the new rules.
- o/w Gains on Cancellation of Employee Retirement Benefit Trust: JPY 3.2B (-JPY 25.4B YoY). 4. Tax effect and other factors related to right-sizing of SC capital implemented as a part of the revision of subsidiaries' capital policy in FY21 Q1 (+JPY 69.6B). 5. Include Net Income of Mizuho Securities USA LLC of JPY 4.3B (-JPY 3.4B YoY).
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Financial Results by In-house Company
Group aggregate, management accounting
(JPY B) | Gross Profits1 | G&A Expenses | Net Business Profits1 | Net Income1 | ||||||||
(excl. Non-Recurring Losses and others) | ||||||||||||
FY22 Q1 | YoY2 | FY22 Q1 | YoY 2 | FY22 Q1 | YoY 2 | FY22 Q1 | YoY 2 | |||||
Retail & Business Banking | 154.2 | -8.7 | -157.0 | +5.3 | -5.5 | -11.7 | -9.6 | -3.1 | ||||
Corporate & Institutional | 102.6 | +0.2 | -50.9 | +0.4 | 53.3 | +0.8 | 15.7 | -64.2 | ||||
Global Corporate | 163.3 | +22.0 | -75.1 | -4.4 | 94.7 | +18.6 | 64.9 | +8.9 | ||||
Global Markets | 149.1 | +24.4 | -62.5 | -6.7 | 86.4 | +17.7 | 59.1 | +12.7 | ||||
Asset Management | 14.0 | -0.3 | -8.3 | -0.2 | 3.9 | -0.7 | 1.4 | -0.8 | ||||
In-house Company Total | 583.2 | +37.5 | -353.9 | -5.5 | 232.8 | +24.7 | 131.5 | -46.4 | ||||
FG Consolidated | 593.1 | +53.5 | -358.5 | -15.1 | 237.3 | +30.5 | 159.2 | -91.2 | ||||
1. Global Markets includes Net Gains (Losses) related to ETFs (2 Banks). FG Consolidated includes Net Gains (Losses) related to ETFs (2 Banks) and Net Gains (Losses) on Operating Investment Securities (SC Consolidated). 2. New management accounting rules were applied in FY22. Figures for YoY are recalculated based on the new rules.
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Overview of Balance Sheet (as of Jun-22)
Consolidated Balance Sheet Figures in ( ) represent changes from Mar-22
Total Assets: JPY 250T (+JPY13.5T)
Loans (Period-end Balance)2, 3 | BK+TB, management accounting | |||
(JPY T) | ||||
86.8 | 85.9 | 85.6 | 87.1 |
Loans
JPY 88T
(+JPY 4.1T)
Securities
JPY 43T
(-JPY 1.2T)
JGBs: | JPY | 22.0T | (-JPY 3.5T)1 |
Foreign Bonds: | JPY | 12.4T | (+JPY 2.5T) |
Japanese Stocks: JPY | 2.9T | (-JPY 0.2T) | |
Deposits/NCDs
JPY 158T
(+JPY 2.9T)
Other Liabilities
JPY 83T
(+JPY 10.8T)
33.7 | 30.5 | 31.5 | 33.0 | GCC4 | |||||||
9.5 | 9.1 | 8.8 | 8.7 | RBC Individuals | |||||||
15.6 | 16.0 | 15.8 | 15.8 | RBC Corporate | |||||||
In Japan | |||||||||||
30.4 | 29.6 | 29.8 | |||||||||
28.0 | CIC | ||||||||||
Mar-20 | Mar-21 | Mar-22 | Jun-22 | 3, 4 | |||||||
Non-JPY denominated Loans and Deposits (Period-endBalance) | |||||||||||
(USD B) | BK, management accounting | ||||||||||
75% | 74% | 75% | 73% | Proportion of | |||||||
Deposit to Loan | |||||||||||
Non-JPY Loans5 | |||||||||||
Non-JPY Customer | |||||||||||
5 |
Other Assets
JPY 118T
(+JPY 10.6T)
Net Assets
JPY 8T
(-JPY 0.2T)
Deposits | ||||
312.1 | 277.2 | 282.8 | 293.1 | |
233.8 | ||||
205.3 | 213.0 | 213.1 | ||
Mar-20 | Mar-21 | Mar-22 | Jun-22 |
- Including Bonds Held to Maturity. 2. Excluding loans between the consolidated entities. For loans in Japan, excluding loans to the Japanese Government, etc. 3. New management accounting rules were applied in FY22. Figures from Mar-20 to Mar-22 were recalculated based on the new rules. 4. BK (including the subsidiaries in China, the USA, the Netherlands, Indonesia, Malaysia, Russia, Brazil and Mexico).
- Including loans and deposits in Japan.
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Mizuho Financial Group Inc. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 07:44:12 UTC.