Form 6-K

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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 February 2026

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 ☐

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NO. 333-282497) AND TO BE A PART OF SUCH PROSPECTUS FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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:		February 2, 2026

Mizuho Financial Group, Inc.

By:		/s/ Takefumi Yonezawa
Name:		Takefumi Yonezawa
Title:		Senior Managing Corporate Executive / Group CFO

For Immediate Release:

Consolidated Financial Statements for the Third Quarter of Fiscal 2025

(Nine months ended December 31, 2025)

(Under Japanese GAAP)


Company Name:		Mizuho Financial Group, Inc. (“MHFG”)		February 2, 2026


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:	Hikaru Osuga	General Manager of Accounting	Phone:	+81-3-6838-6101
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 Third Quarter of Fiscal 2025 (for the nine months ended December 31, 2025)

(1) Consolidated Results of Operations (Accumulated Period)


(%: Changes from the corresponding period of the previous fiscal year)
	Ordinary Income					Ordinary Profits				Profit Attributable to Owners of Parent
	¥ million		%			¥ million		%		¥ million		%
3Q F2025		6,613,425		(6.5	)		1,254,665		11.3		1,019,890		19.2
3Q F2024		7,073,521		14.8			1,126,538		27.6		855,374		33.1

Note:

Comprehensive Income:

3Q F2025: ¥1,293,489 million, 103.0%; 3Q F2024: ¥637,001 million, (34.5)%


	Earnings per Share of Common Stock		Diluted Earnings per Share of Common Stock
	¥		¥
3Q F2025		409.21		409.21
3Q F2024		337.64		337.64

(2) Consolidated Financial Conditions


	Total Assets		Total Net Assets		Own Capital Ratio
	¥ million		¥ million		%
3Q F2025		297,570,168		11,258,748		3.7
Fiscal 2024		283,320,404		10,523,753		3.6


Reference:		Own Capital:
		As of December 31, 2025: ¥11,175,386 million; As of March 31, 2025: ¥10,442,211 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 2024		—		65.00		—		75.00		140.00
Fiscal 2025		—		72.50		—
Fiscal 2025 (estimate)								72.50		145.00


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

3. Consolidated Earnings Estimates for Fiscal 2025 (for the fiscal year ending March 31, 2026)


	(%: Changes from the previous fiscal year)
		Profit Attributable to Owners of Parent				Earnings per Share of Common Stock
		¥ million		%		¥
Fiscal 2025			1,130,000		27.6		454.39


Notes:	1.	Revision of the latest announced earnings estimates for fiscal 2025: 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 and others) during the 1Q, 2Q and 3Q and the number of outstanding shares during the remainder of the relevant period (which is substituted with the number of outstanding shares (excluding treasury stock and others) as of December 31, 2025).

Notes

(1) Significant changes in the scope of consolidation during the period: 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: No

ii.

Changes in accounting policies other than i above: No

iii.

Changes in accounting estimates: No

iv.

Restatements: No

(4) Issued Shares of Common Stock

i. Period-end issued shares (including treasury stock):

As of December 31, 2025

2,489,848,594 shares

As of March 31, 2025

2,513,757,794 shares

ii. Period-end treasury stock:

As of December 31, 2025

19,676,300 shares

As of March 31, 2025

4,233,302 shares

iii. Average outstanding shares (accumulated period):

3Q Fiscal 2025

2,492,291,775 shares

3Q Fiscal 2024

2,533,336,417 shares

Review of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: No

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; 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; changes to applicable laws and regulations; and the effects of climate change.

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”) and our report on Form 6-K furnished to the SEC on December 29, 2025, both of which are 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.

m Contents of Attachment


1. Overview of Consolidated Results of Operations and Financial Condition		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) Notes regarding Consolidated Financial Statements		p.1-7
(The Framework for Financial Reporting applied to Quarterly Consolidated Financial Statements)
(Matters Related to the Assumption of Going Concern)
(Significant Changes in the Amount of Shareholders’ Equity)
(Business Segments Information)
(Consolidated Statement of Cash Flows)
øSELECTED FINANCIAL INFORMATION For the Third Quarter of Fiscal 2025

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.

1-1

Mizuho Financial Group, Inc.

1. Overview of Consolidated Results of Operations and Financial Condition

The subject matter is described in the “Summary of Financial Results for the Third Quarter of FY2025” disclosed on February 2, 2026 (Monday), which is available on our web page at https://www.mizuhogroup.com/investors/financial-information/financial-statements.

The information is posted under the Financial Statements (under Japanese GAAP) of Mizuho Financial Group, FY2025, Third Quarter, on the above web page.

1-2

Mizuho Financial Group, Inc.

2. Quarterly Consolidated Financial Statements and Others

(1) Consolidated Balance Sheets


	*(Millions of yen)*
	As of March 31, 2025			As of December 31, 2025
Assets
Cash and Due from Banks	¥	72,483,086		¥	61,088,086
Call Loans and Bills Bought		688,473			799,312
Receivables under Resale Agreements		28,107,374			30,246,516
Guarantee Deposits Paid under Securities Borrowing Transactions		2,078,999			1,821,774
Monetary Claims Bought		3,932,427			4,132,905
Trading Assets		22,240,796			30,244,912
Money Held in Trust		632,025			659,189
Securities		34,307,574			41,584,796
Loans and Bills Discounted		94,108,757			98,669,026
Foreign Exchanges		2,237,879			3,037,702
Derivatives other than for Trading Assets		3,497,747			5,678,933
Other Assets		7,008,874			6,304,046
Tangible Fixed Assets		1,122,592			1,126,690
Intangible Fixed Assets		808,897			875,488
Net Defined Benefit Asset		758,783			597,079
Deferred Tax Assets		237,630			208,829
Customers’ Liabilities for Acceptances and Guarantees		9,824,242			11,062,191
Allowance for Loan Losses		(755,751	)		(567,310	)
Allowance for Investment Losses		(5	)		(3	)

Total Assets	¥	283,320,404		¥	297,570,168

1-3

Mizuho Financial Group, Inc.

	$			$
	*(Millions of yen)*
	As of March 31, 2025			As of December 31, 2025
Liabilities
Deposits	¥	158,746,762		¥	159,038,899
Negotiable Certificates of Deposit		14,398,784			15,411,587
Call Money and Bills Sold		2,745,165			3,030,490
Payables under Repurchase Agreements		38,393,650			37,741,278
Guarantee Deposits Received under Securities Lending Transactions		1,604,389			2,176,891
Commercial Paper		2,138,133			3,529,066
Trading Liabilities		14,290,572			18,043,450
Borrowed Money		4,008,514			4,610,545
Foreign Exchanges		840,486			1,257,430
Short-term Bonds		724,118			755,450
Bonds and Notes		12,877,794			14,750,267
Due to Trust Accounts		950,946			912,160
Derivatives other than for Trading Liabilities		4,566,669			7,119,207
Other Liabilities		6,267,822			6,508,239
Reserve for Bonus Payments		224,246			180,396
Reserve for Variable Compensation		2,226			2,139
Net Defined Benefit Liability		68,259			68,078
Reserve for Director and Corporate Auditor Retirement Benefits		484			447
Reserve for Possible Losses on Sales of Loans		1,266			2,041
Reserve for Contingencies		22,542			17,525
Reserve for Reimbursement of Deposits		7,146			5,363
Reserve for Reimbursement of Debentures		19,965			13,854
Reserves under Special Laws		4,247			4,244
Deferred Tax Liabilities		21,155			24,888
Deferred Tax Liabilities for Revaluation Reserve for Land		47,059			45,281
Acceptances and Guarantees		9,824,242			11,062,191

Total Liabilities	¥	272,796,651		¥	286,311,419

Net Assets
Common Stock	¥	2,256,767		¥	2,256,767
Capital Surplus		1,129,730			1,129,730
Retained Earnings		6,046,578			6,601,421
Treasury Stock		(9,462	)		(96,032	)

Total Shareholders’ Equity		9,423,614			9,891,886

Net Unrealized Gains (Losses) on Other Securities		867,697			1,352,834
Deferred Gains (Losses) on Hedges		(465,204	)		(747,578	)
Revaluation Reserve for Land		98,680			94,820
Foreign Currency Translation Adjustments		398,783			488,839
Remeasurements of Defined Benefit Plans		119,654			95,617
Own Credit Risk Adjustments, Net of Tax		(1,014	)		(1,035	)

Total Accumulated Other Comprehensive Income		1,018,596			1,283,500

Stock Acquisition Rights		5			5
Non-Controlling Interests		81,536			83,356

Total Net Assets		10,523,753			11,258,748

Total Liabilities and Net Assets	¥	283,320,404		¥	297,570,168

1-4

Mizuho Financial Group, Inc.

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

Consolidated Statements of Income


	*(Millions of yen)*
	For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
Ordinary Income	¥	7,073,521	¥	6,613,425
Interest Income		4,730,018		4,388,089
Interest on Loans and Bills Discounted		2,151,051		2,056,553
Interest and Dividends on Securities		644,732		663,414
Trust Fees		45,532		48,691
Fee and Commission Income		822,102		939,311
Trading Income		823,101		657,328
Other Operating Income		301,963		267,167
Other Ordinary Income		350,803		312,837
Ordinary Expenses		5,946,983		5,358,759
Interest Expenses		3,992,754		3,397,722
Interest on Deposits		1,358,432		1,260,249
Fee and Commission Expenses		169,144		182,840
Trading Expenses		—		1,076
Other Operating Expenses		295,236		140,056
General and Administrative Expenses		1,357,822		1,509,167
Other Ordinary Expenses		132,025		127,895

Ordinary Profits		1,126,538		1,254,665

Extraordinary Gains		50,888		80,053
Extraordinary Losses		10,189		11,496

Profit before Income Taxes		1,167,237		1,323,223

Income Taxes:
Current		266,799		347,848
Deferred		42,105		(48,495	)

Total Income Taxes		308,905		299,353

Profit		858,331		1,023,869

Profit Attributable to Non-controlling Interests		2,956		3,978

Profit Attributable to Owners of Parent	¥	855,374	¥	1,019,890

1-5

Mizuho Financial Group, Inc.

Consolidated Statements of Comprehensive Income


	*(Millions of yen)*
	For the nine months ended December 31, 2024			For the nine months ended December 31, 2025
Profit	¥	858,331		¥	1,023,869
Other Comprehensive Income (Loss)		(221,329	)		269,620
Net Unrealized Gains (Losses) on Other Securities		(201,505	)		485,667
Deferred Gains (Losses) on Hedges		(50,624	)		(282,549	)
Foreign Currency Translation Adjustments		58,818			109,125
Remeasurements of Defined Benefit Plans		(23,354	)		(23,834	)
Own Credit Risk Adjustments, Net of Tax		(672	)		(20	)
Share of Other Comprehensive Income of Associates Accounted for Using Equity Method		(3,989	)		(18,769	)

Comprehensive Income		637,001			1,293,489

(Breakdown)
Comprehensive Income Attributable to Owners of Parent		633,897			1,288,653
Comprehensive Income Attributable to Non-controlling Interests		3,104			4,835

1-6

Mizuho Financial Group, Inc.

(3) Notes regarding Consolidated Financial Statements

(The Framework for Financial Reporting applied to Quarterly Consolidated Financial Statements)

The quarterly consolidated financial statements, that is, the quarterly consolidated balance sheet, the quarterly consolidated statement of income, the quarterly consolidated statement of comprehensive income, and these notes, have been prepared in accordance with Article 4, Paragraph 1 of the Tokyo Stock Exchange, Inc.’s Standards for the Preparation of Quarterly Financial Statements (the Standards) and accounting principles for quarterly financial statements generally accepted in Japan. However, the omission of disclosures as prescribed in Article 4, Paragraph 2 of the Standards applies.

(Matters Related to the Assumption of Going Concern)

There is no applicable information.

(Significant Changes in the Amount of Shareholders’ Equity)

There is no applicable information.

(Business Segments Information)

Summary of reportable segments

MHFG has introduced an in-house company system based on the group’s diverse customer segments. The aim of this system is to leverage MHFG’s strengths and competitive advantage, which is the seamless integration of MHFG’s banking, trust 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).

The services that each in-house company is in charge of are as follows:

RBC:

Services for individual customers, small and medium-sized enterprises and middle market firms in Japan

CIBC:

Services for large corporations, financial institutions and public corporations in Japan

GCIBC:

Services for Japanese overseas affiliated corporate customers and non-Japanese corporate customers, etc.

GMC:

Investment services with respect to interest rates, equities and credits, etc. and other services

AMC:

Development of products and provision of services that match the asset management needs of its wide range of customers from individuals to institutional investors

The reportable segments 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.

1-7

Mizuho Financial Group, Inc.

Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others, and Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others by reportable segment

For the nine months ended December 31, 2024


	(Millions of yen)
	MHFG (Consolidated)
	RBC		CIBC		GCIBC		GMC		AMC		Others (Note 2)
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others		587,615		437,778		613,095		505,430		43,974		119,069	2,306,961
General and Administrative Expenses (excluding Non-Recurring Losses and others)		513,811		174,263		337,753		266,489		28,313		50,006	1,370,635
Equity in Income from Investments in Affiliates		5,814		8,234		20,874		—		580		3,163	38,665
Amortization of Goodwill and others		4		618		4,794		—		4,587		773	10,776
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others		79,614		271,131		291,422		238,941		11,654		71,453	964,215


Notes:	1.	Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others is reported instead of sales reported by general corporations. Net Gains (Losses) related to ETFs and others amounted to ¥41,378 million, of which ¥36,316 million is included in the GMC.
	2.	“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.
	3.	Following the change in allocation method for transactions between each segment and “Others” made in April 2025, reclassification was made on the above table to reflect the relevant change.

For the nine months ended December 31, 2025


	(Millions of yen)
	MHFG (Consolidated)
	RBC		CIBC		GCIBC		GMC		AMC			Others (Note 2)
Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others		691,759		508,623		646,181		596,778		55,031			126,317	2,624,689
General and Administrative Expenses (excluding Non-Recurring Losses and others)		549,171		182,441		370,896		294,812		36,049			70,672	1,504,041
Equity in Income from Investments in Affiliates		6,602		10,299		21,649		—		(2,252	)		1,825	38,123
Amortization of Goodwill and others		999		618		3,890		—		4,294			691	10,492
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others		148,191		335,863		293,044		301,966		12,436			56,778	1,148,278


Notes:	1.	Gross Profits (excluding the amounts of credit costs of trust accounts) + Net Gains (Losses) related to ETFs and others is reported instead of sales reported by general corporations. Net Gains (Losses) related to ETFs and others amounted to ¥45,797 million, of which ¥39,800 million is included in the GMC.
	2.	“Others” includes items which should be eliminated as internal transactions between each segment on a consolidated basis.

1-8

Mizuho Financial Group, Inc.

The difference between the total amounts of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others of reportable segments and the recorded amounts in the Quarterly Consolidated Statement of Income, and the contents of the difference (Matters relating to adjustment to difference)

The above total amounts of Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others derived from internal management reporting are different from Profit before Income Taxes recorded in the Quarterly Consolidated Statement of Income.

The differences for the nine months ended December 31, 2024 and 2025 are as follows:


	(Millions of yen)
	For the nine months ended December 31, 2024			For the nine months ended December 31, 2025
Net Business Profits (excluding the amounts of credit costs of trust accounts, before reversal of (provision for) general allowance for loan losses) + Net Gains (Losses) related to ETFs and others		964,215			1,148,278
General and Administrative Expenses (Non-Recurring Losses)		23,588			5,366
Expenses related to Portfolio Problems (including reversal of (provision for) general allowance for loan losses)		(16,517	)		(55,246	)
Gains on Reversal of Allowance for Loan Losses, and others		55,066			2,897
Net Gains (Losses) related to Stocks - Net Gains (Losses) related to ETFs and others		114,448			160,007
Net Extraordinary Gains (Losses)		40,698			68,557
Others		(14,263	)		(6,637	)

Profit before Income Taxes recorded in Quarterly Consolidated Statement of Income		1,167,237			1,323,223

(Consolidated Statement of Cash Flows)

We have not prepared Quarterly Consolidated Statement of Cash Flows for the nine months ended December 31, 2025. Depreciation (including Amortization of Intangible Fixed Assets excluding Goodwill) and Amortization of Goodwill for the nine months ended December 31, 2024 and 2025 are as follows:


	(Millions of yen)
	For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
Depreciation		143,574		168,147
Amortization of Goodwill		5,646		6,776

1-9

SELECTED FINANCIAL INFORMATION

For the Third Quarter of Fiscal 2025

(Nine months ended December 31, 2025)

(Under Japanese GAAP)

LOGO

Mizuho Financial Group, Inc.

C O N T E N T S

Notes:

“CON”: Consolidated figures for Mizuho Financial Group, Inc. (“MHFG”)

“NON”:Non-consolidated figures for Mizuho Bank, Ltd. (“MHBK”) and Mizuho Trust & Banking Co., Ltd. (“MHTB”)

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2025

See above Notes

Page

1. Income Analysis

CON

NON

2-1

2. Net Gains/Losses on Stocks

CON

NON

2-3

3. Unrealized Gains/Losses on Securities

CON

NON

2-4

4. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial Reconstruction Act (“FRA”)

CON

NON

2-7

5. Status of Deposits and Loans

NON

2-11

Attachments

Page

Mizuho Bank, Ltd.

Comparison of Non-Consolidated Balance Sheets (selected items)

2-13

Comparison of Non-Consolidated Statements of Income (selected items)

2-14

Mizuho Financial Group, Inc.

FINANCIAL INFORMATION FOR THE THIRD QUARTER OF FISCAL 2025

1. Income Analysis

Consolidated


		*(Billions of yen)*
		Third Quarter of Fiscal 2025 (Accumulated Period)						Third Quarter of Fiscal 2024 (Accumulated Period)
					Change
Consolidated Gross Profits	1		2,578.8			313.3			2,265.5
Net Interest Income	2		990.3			253.1			737.2
Trust Fees	3		48.6			3.1			45.5
Credit Costs of Trust Accounts	4		—			—			—
Net Fee and Commission Income	5		756.4			103.5			652.9
Net Trading Income	6		656.2			(166.8	)		823.1
Net Other Operating Income	7		127.1			120.3			6.7
General and Administrative Expenses	8		(1,509.1	)		(151.3	)		(1,357.8	)
Expenses related to Portfolio Problems (including Reversal of (Provision for) General Allowance for Loan Losses)	9		(55.2	)		(38.7	)		(16.5	)
Gains on Reversal of Allowance for Loan Losses, and others	10		2.8			(52.1	)		55.0
Net Gains (Losses) related to Stocks	11		205.8			49.9			155.8
Equity in Income from Investments in Affiliates	12		38.1			(0.5	)		38.6
Other	13		(6.6	)		7.6			(14.2	)

Ordinary Profits	14		1,254.6			128.1			1,126.5

Net Extraordinary Gains (Losses)	15		68.5			27.8			40.6
Profit before Income Taxes	16		1,323.2			155.9			1,167.2
Income Taxes	17		(299.3	)		9.5			(308.9	)
Profit	18		1,023.8			165.5			858.3
Profit Attributable to Non-controlling Interests	19		(3.9	)		(1.0	)		(2.9	)

Profit Attributable to Owners of Parent	20		1,019.8			164.5			855.3


Credit-related Costs (including Credit Costs of Trust Accounts)	21		(52.3	)		(90.8	)		38.5
Credit-related Costs [21] = Expenses related to Portfolio Problems (including Reversal of (Provision for) General Allowance for Loan Losses) [9] + Gains on Reversal of Allowance for Loan Losses, and others [10] + Credit Costs of Trust Accounts [4]
(Reference)
Consolidated Net Business Profits	22		1,102.4			179.6			922.8
Consolidated Net Business Profits [22] = Consolidated Gross Profits [1] - General and Administrative Expenses (excluding Non-Recurring Losses) + Equity in Income from Investments in Affiliates and certain other consolidation adjustments

Number of consolidated subsidiaries	23		266			35			231
Number of affiliates under the equity method	24		26			(1	)		27

2-1

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks


		*(Billions of yen)*
		Third Quarter of Fiscal 2025 (Accumulated Period)												Third Quarter of Fiscal 2024 (Accumulated Period)
		MHBK			MHTB			Aggregate Figures			Change
Gross Profits	1		1,466.6			122.5			1,589.1			254.2			1,334.9
Net Interest Income	2		980.1			38.8			1,018.9			222.6			796.2
Trust Fees	3					49.0			49.0			3.2			45.8
Trust Fees for Jointly Operated Designated Money Trust	4					*2.5*			*2.5*			(0.1	)		2.7
Credit Costs of Trust Accounts	5					—			—			—			—
Net Fee and Commission Income	6		311.1			34.0			345.2			28.8			316.3
Net Trading Income	7		155.9						155.9			(15.1	)		171.1
Net Other Operating Income	8		19.3			0.5			19.9			14.6			5.3
General and Administrative Expenses (excluding Non-Recurring Losses)	9		(719.9	)		(63.6	)		(783.5	)		(47.1	)		(736.4	)

Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) ⁽¹⁾	10		746.7			58.8			805.6			207.0			598.5
Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas ⁽²⁾	11		756.6			58.5			815.2			220.1			595.0
Excluding Net Gains (Losses) from redemption of Investment Trusts	12		*735.4*			*58.5*			*794.0*			209.1			584.8

Reversal of (Provision for) General Allowance for Loan Losses	13		(6.5	)		—			(6.5	)		(6.5	)		—

Net Business Profits	14		740.2			58.8			799.0			200.5			598.5
Net Gains (Losses) related to Bonds	15		*(9.9*	)		*0.2*			*(9.6*	)		(13.0	)		3.4

Net Non-Recurring Gains (Losses)	16		115.9			14.9			130.8			(82.0	)		212.9
Net Gains (Losses) related to Stocks	17		179.2			11.3			190.5			41.5			149.0
Expenses related to Portfolio Problems	18		(49.5	)		—			(49.5	)		(31.9	)		(17.6	)
Gains on Reversal of Allowances for Loan Losses, and others	19		2.1			1.1			3.2			(55.5	)		58.7
Other	20		(15.8	)		2.4			(13.4	)		(36.1	)		22.7
Ordinary Profits	21		856.1			73.8			929.9			118.4			811.5

Net Extraordinary Gains (Losses)	22		49.2			23.5			72.8			33.0			39.7
Profit before Income Taxes	23		905.4			97.3			1,002.7			151.5			851.2
Income Taxes	24		(203.8	)		(20.6	)		(224.4	)		1.8			(226.3	)

Profit	25		701.5			76.7			778.2			153.4			624.8

(1) Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) for MHTB excludes the amounts of “Credit Costs of Trust Accounts” [5]. (2) Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses) from core business areas[11] =Net Business Profits (before Reversal of (Provision for) General Allowance for Loan Losses)[10]-Net Gains (Losses) related to Bonds[15]

Credit-related Costs	26		(53.9	)		1.1			(52.8	)		(93.9	)		41.1

Credit-related Costs [26] = Expenses related to Portfolio Problems [18] + Reversal of (Provision for) General Allowance for Loan Losses [13] + Gains on Reversal of Allowances for Loan Losses, and others [19] + Credit Costs of Trust Accounts [5]
(Reference) Breakdown of Credit-related Costs
Credit Costs of Trust Accounts	27					—			—			—			—
Reversal of (Provision for) General Allowance for Loan Losses	28		(6.5	)		1.0			(5.4	)		(50.6	)		45.2
Losses on Write-offs of Loans	29		(18.8	)		0.0			(18.8	)		(21.0	)		2.2
Reversal of (Provision for) Specific Allowance for Loan Losses	30		(48.8	)		0.0			(48.7	)		(45.1	)		(3.5	)
Reversal of (Provision for) Allowance for Loan Losses to Restructuring Countries	31		24.9			—			24.9			15.9			8.9
Reversal of (Provision for) Reserve for Contingencies	32		(0.4	)		—			(0.4	)		2.7			(3.1	)
Other (including Losses on Sales of Loans)	33		(4.2	)		—			(4.2	)		4.2			(8.4	)
Total	34		(53.9	)		1.1			(52.8	)		(93.9	)		41.1

2-2

Mizuho Financial Group, Inc.

2. Net Gains/Losses on Stocks

Consolidated


	*(Billions of yen)*
	Third Quarter of Fiscal 2025 (Accumulated Period)						Third Quarter of Fiscal 2024 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		205.8			49.9			155.8
Gains on Sales		249.5			9.1			240.4
Losses on Sales		(36.5	)		35.7			(72.2	)
Impairment (Devaluation)		(5.6	)		0.3			(5.9	)
Reversal of (Provision for) Allowance for Investment Losses		—			—			—
Gains (Losses) on Derivatives other than for Trading		(1.5	)		4.7			(6.3	)
Non-Consolidated
Aggregate Figures for the 2 Banks	Third Quarter of Fiscal 2025 (Accumulated Period)						Third Quarter of Fiscal 2024 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		190.5			41.5			149.0
Gains on Sales		235.5			8.9			226.5
Losses on Sales		(31.6	)		36.3			(68.0	)
Impairment (Devaluation)		(11.7	)		(8.5	)		(3.2	)
Reversal of (Provision for) Allowance for Investment Losses		—			—			—
Gains (Losses) on Derivatives other than for Trading		(1.5	)		4.7			(6.3	)

Mizuho Bank	Third Quarter of Fiscal 2025 (Accumulated Period)						Third Quarter of Fiscal 2024 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		179.2			39.4			139.7
Gains on Sales		224.0			7.7			216.2
Losses on Sales		(31.4	)		36.4			(67.9	)
Impairment (Devaluation)		(11.7	)		(9.4	)		(2.3	)
Reversal of (Provision for) Allowance for Investment Losses		—			—			—
Gains (Losses) on Derivatives other than for Trading		(1.5	)		4.7			(6.3	)

Mizuho Trust & Banking	Third Quarter of Fiscal 2025 (Accumulated Period)						Third Quarter of Fiscal 2024 (Accumulated Period)
				Change
Net Gains (Losses) related to Stocks		11.3			2.1			9.2
Gains on Sales		11.5			1.2			10.2
Losses on Sales		(0.1	)		(0.0	)		(0.0	)
Impairment (Devaluation)		(0.0	)		0.9			(0.9	)
Reversal of (Provision for) Allowance for Investment Losses		—			—			—
Gains (Losses) on Derivatives other than for Trading		—			—			—

2-3

Mizuho Financial Group, Inc.

3. Unrealized Gains/Losses on Securities

•

Stocks and others without a quoted market price and Investments in Partnerships are excluded.

Consolidated

(1) Other Securities

(Billions of yen)

As of December 31, 2025

As of March 31, 2025

As of September 30, 2025 (Reference)

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

(=Fair Value)

Gains

Losses

(=Fair Value)

Gains

Losses

(=Fair Value)

Gains

Losses

MHFG (Consolidated)

Other Securities

34,900.2

1,943.9

2,531.5

587.5

28,315.4

1,244.3

1,851.8

607.4

32,394.3

1,722.2

2,254.4

532.1

Japanese Stocks

3,144.3

2,391.4

2,396.0

4.5

2,602.8

1,785.4

1,791.9

6.4

2,943.4

2,153.0

2,156.1

3.1

Japanese Bonds

14,984.1

(181.2

)

6.9

188.1

11,250.8

(79.6

)

7.2

86.9

13,590.0

(110.3

)

7.4

117.7

Japanese Government Bonds

12,623.6

(97.0

)

0.1

97.1

8,370.4

(18.6

)

0.0

18.7

10,992.4

(46.3

)

0.5

46.8

Other

16,771.7

(266.2

)

128.6

394.8

14,461.7

(461.3

)

52.7

514.1

15,860.8

(320.4

)

90.8

411.3

Foreign Bonds

13,700.5

(304.6

)

33.3

337.9

12,116.5

(384.9

)

18.3

403.2

13,210.0

(318.1

)

27.8

346.0

* In addition to “Securities” on the consolidated balance sheets, NCDs in “Cash and Due from Banks,” certain items in “Monetary Claims Bought” and certain items in “Other Assets” are also included.

* Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment as of December 31, 2025, September 30, 2025 and March 31, 2025 are ¥(85.8) billion (Foreign Bonds ¥(30.8) billion and Japanese Government Bonds ¥0.9 billion), ¥(63.8) billion (Foreign Bonds ¥(13.5) billion and Japanese Government Bonds ¥0.8 billion) and ¥33.5 billion (Foreign Bonds ¥39.7 billion and Japanese Government Bonds ¥0.9 billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments as of December 31, 2025, September 30, 2025 and March 31, 2025 are ¥1,858.1 billion (Foreign Bonds ¥(335.5) billion and Japanese Government Bonds ¥(96.0) billion), ¥1,658.4 billion (Foreign Bonds ¥(331.7) billion and Japanese Government Bonds ¥(45.4) billion) and ¥1,277.9 billion (Foreign Bonds ¥(345.2) billion and Japanese Government Bonds ¥(17.6) billion), respectively.

* Unrealized Gains/Losses on Other Securities as of December 31, 2025, September 30, 2025 and March 31, 2025 include translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships, and are recorded directly to Net Assets after tax and consolidation adjustments, excluding the amount recognized in the consolidated balance sheet by applying the fair-value hedge accounting and others.

(2) Bonds Held to Maturity

(Billions of yen)

As of December 31, 2025

As of March 31, 2025

As of September 30, 2025 (Reference)

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

Book Value

Unrealized Gains/Losses

Gains

Losses

Gains

Losses

Gains

Losses

MHFG (Consolidated)

4,755.9

(120.4

)

44.5

164.9

4,183.1

(155.7

)

23.2

179.0

4,168.1

(125.6

)

35.7

161.3

2-4

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(1) Other Securities


	*(Billions of yen)*
	As of December 31, 2025									As of March 31, 2025									As of September 30, 2025 (Reference)
	Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses							Book Value		Unrealized Gains/Losses
	(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses		(=Fair Value)					Gains		Losses
MHBK
Other Securities		33,570.6		1,736.9			2,322.3		585.3		27,108.6		1,074.7			1,677.4		602.6		31,159.6		1,524.0			2,053.4		529.4
Japanese Stocks		2,879.1		2,186.0			2,189.5		3.4		2,370.4		1,616.3			1,621.5		5.2		2,684.2		1,956.1			1,958.2		2.0
Japanese Bonds		14,799.8		(180.7	)		6.8		187.5		11,040.7		(78.5	)		7.1		85.6		13,395.1		(109.5	)		7.3		116.8
Japanese Government Bonds		*12,520.6*		*(96.9*	)		*0.1*		*97.1*		8,260.5		(18.6	)		0.0		18.7		10,881.4		(46.3	)		0.5		46.8
Other		15,891.6		(268.3	)		125.9		394.2		13,697.4		(462.9	)		48.7		511.7		15,080.2		(322.5	)		87.9		410.4
Foreign Bonds		*13,022.7*		*(305.3*	)		*32.1*		*337.4*		11,465.4		(386.2	)		15.0		401.2		12,598.7		(319.2	)		26.0		345.2
MHTB
Other Securities		311.0		125.2			126.1		0.8		303.0		97.4			98.5		1.0		308.0		119.2			120.0		0.7
Japanese Stocks		170.5		125.7			125.9		0.2		146.2		97.5			98.2		0.6		166.1		119.6			119.8		0.2
Japanese Bonds		136.5		(0.4	)		0.0		0.5		152.5		(0.2	)		0.1		0.3		137.8		(0.3	)		0.0		0.3
Japanese Government Bonds		*99.8*		*(0.0*	)		—		*0.0*		98.7		(0.0	)		—		0.0		99.9		(0.0	)		—		0.0
Other		3.9		(0.0	)		0.0		0.0		4.3		0.0			0.1		0.0		3.9		(0.0	)		0.0		0.0
Foreign Bonds		—		—			—		—		—		—			—		—		—		—			—		—

Total
Other Securities		33,881.7		1,862.2			2,448.4		586.1		27,411.7		1,172.2			1,775.9		603.6		31,467.7		1,643.2			2,173.4		530.1
Japanese Stocks		3,049.7		2,311.7			2,315.4		3.7		2,516.6		1,713.9			1,719.8		5.8		2,850.4		2,075.7			2,078.1		2.3
Japanese Bonds		14,936.3		(181.2	)		6.9		188.1		11,193.3		(78.7	)		7.2		86.0		13,533.0		(109.8	)		7.4		117.2
Japanese Government Bonds		*12,620.5*		*(97.0*	)		*0.1*		*97.1*		8,359.2		(18.6	)		0.0		18.7		10,981.3		(46.3	)		0.5		46.8
Other		15,895.6		(268.3	)		126.0		394.3		13,701.7		(462.8	)		48.8		511.7		15,084.2		(322.6	)		87.9		410.5
Foreign Bonds		*13,022.7*		*(305.3*	)		*32.1*		*337.4*		11,465.4		(386.2	)		15.0		401.2		12,598.7		(319.2	)		26.0		345.2

*	In addition to “Securities” on the balance sheets, NCDs in “Cash and Due from Banks” and certain items in “Monetary Claims Bought” are also included.

Other Securities mainly including Foreign Bonds are hedged by using derivative instruments, which apply the deferred method of hedge accounting. Deferred Hedge Gains/Losses before tax adjustment (aggregate figures for the 2 banks) as of December 31, 2025, September 30, 2025 and March 31, 2025 are ¥(85.8) billion (Foreign Bonds ¥(30.8) billion and Japanese Government Bonds ¥0.9 billion), ¥(63.8) billion (Foreign Bonds ¥(13.5) billion and Japanese Government Bonds ¥0.8 billion) and ¥33.5 billion (Foreign Bonds ¥39.7 billion and Japanese Government Bonds ¥0.9 billion), respectively. Unrealized Gains/Losses applying deferred hedging accounting among hedging instruments (aggregate figures for the 2 banks) as of December 31, 2025, September 30, 2025 and March 31, 2025 are ¥1,776.4 billion (Foreign Bonds ¥(336.2) billion and Japanese Government Bonds ¥(96.0) billion), ¥1,579.4 billion (Foreign Bonds ¥(332.8) billion and Japanese Government Bonds ¥(45.4) billion) and ¥1,205.7 billion (Foreign Bonds ¥(346.4) billion and Japanese Government Bonds ¥(17.6) billion), respectively.

Unrealized Gains/Losses on Other Securities as of December 31, 2025, September 30, 2025 and March 31, 2025 include translation differences and others regarding stocks and others without a quoted market price and Investments in Partnerships, and are recorded directly to Net Assets after tax adjustment, excluding the amount recognized in the balance sheet by applying the fair-value hedge accounting.

2-5

Mizuho Financial Group, Inc.

(2) Bonds Held to Maturity


	*(Billions of yen)*
	As of December 31, 2025									As of March 31, 2025									As of September 30, 2025 (Reference)
			Unrealized Gains/Losses									Unrealized Gains/Losses									Unrealized Gains/Losses
	Book Value					Gains		Losses		Book Value					Gains		Losses		Book Value					Gains		Losses
MHBK		4,755.9		(120.4	)		44.5		164.9		4,183.1		(155.7	)		23.2		179.0		4,168.1		(125.6	)		35.7		161.3
MHTB		—		—			—		—		—		—			—		—		—		—			—		—
Total		4,755.9		(120.4	)		44.5		164.9		4,183.1		(155.7	)		23.2		179.0		4,168.1		(125.6	)		35.7		161.3

(3) Investments in Subsidiaries and Affiliates


	*(Billions of yen)*
	As of December 31, 2025								As of March 31, 2025								As of September 30, 2025 (Reference)
			Unrealized Gains/Losses								Unrealized Gains/Losses								Unrealized Gains/Losses
	Book Value				Gains		Losses		Book Value				Gains		Losses		Book Value				Gains		Losses
MHBK		106.1		415.3		415.3		—		106.1		276.5		276.5		—		106.1		413.5		413.5		—
MHTB		—		—		—		—		—		—		—		—		—		—		—		—
Total		106.1		415.3		415.3		—		106.1		276.5		276.5		—		106.1		413.5		413.5		—

(Reference)

Unrealized Gains/Losses on Other Securities

(the base amount to be recorded directly to Net Assets after necessary adjustments)

For certain Other Securities, Unrealized Gains/Losses were recognized in the statement of income by applying the fair-value hedge accounting and others.

Unrealized Gains/Losses on Other Securities after excluding such Income/Loss (the “base amount”) are recorded directly to Net Assets after necessary adjustments.

The base amounts are as follows:

Consolidated


	*(Billions of yen)*
	As of December 31, 2025						As of March 31, 2025			As of September 30, 2025 (Reference)
	Unrealized Gains/Losses						Unrealized Gains/Losses			Unrealized Gains/Losses
				Change			Unrealized Gains/Losses			Unrealized Gains/Losses
Other Securities		1,908.6			698.2			1,210.3			1,688.6
Japanese Stocks		2,355.8			607.2			1,748.5			2,118.3
Japanese Bonds		(181.2	)		(101.5	)		(79.6	)		(110.3	)
Japanese Government Bonds		*(97.0*	)		(78.3	)		(18.6	)		(46.3	)
Other		(265.9	)		192.5			(458.5	)		(319.3	)
Foreign Bonds		*(304.3*	)		77.7			(382.0	)		(317.0	)

Non-Consolidated

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of December 31, 2025						As of March 31, 2025			As of September 30, 2025 (Reference)
	Unrealized Gains/Losses						Unrealized Gains/Losses			Unrealized Gains/Losses
				Change			Unrealized Gains/Losses			Unrealized Gains/Losses
Other Securities		1,827.3			691.2			1,136.1			1,609.4
Japanese Stocks		2,276.8			599.1			1,677.7			2,041.8
Japanese Bonds		(181.2	)		(102.4	)		(78.7	)		(109.8	)
Japanese Government Bonds		*(97.0*	)		(78.3	)		(18.6	)		(46.3	)
Other		(268.3	)		194.5			(462.8	)		(322.6	)
Foreign Bonds		*(305.3*	)		80.8			(386.2	)		(319.2	)

2-6

Mizuho Financial Group, Inc.

4. Status of Non Performing Loans based on the Banking Act (“BA”) and the Financial Reconstruction Act (“FRA”)

Consolidated


	*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		40.1		7.6			32.4		43.6
Claims with Collection Risk		425.3		(150.8	)		576.2		318.5
Claims for Special Attention		390.4		(48.2	)		438.6		430.4
Loans Past Due for 3 Months or More		0.9		0.6			0.2		0.5
Restructured Loans		389.5		(48.8	)		438.3		429.8
Sub-total[1]		855.9		(191.3	)		1,047.3		792.6
Normal Claims		113,061.1		6,630.9			106,430.1		107,911.4

Total[2]		113,917.0		6,439.6			107,477.4		108,704.1


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		328.8		232.8			95.9		319.6

	*(%)*
NPL ratio[1]/[2]		0.75		(0.22	)		0.97		0.72

Trust Account
		*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		—		—			—		—
Claims with Collection Risk		—		—			—		—
Claims for Special Attention		—		—			—		—
Loans Past Due for 3 Months or More		—		—			—		—
Restructured Loans		—		—			—		—
Sub-total[3]		—		—			—		—
Normal Claims		1.0		(0.3	)		1.3		1.0

Total[4]		1.0		(0.3	)		1.3		1.0


								*(%)*
NPL ratio[3]/[4]		—		—			—		—

2-7

Mizuho Financial Group, Inc.

Consolidated + Trust Account


		*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		40.1		7.6			32.4		43.6
Claims with Collection Risk		425.3		(150.8	)		576.2		318.5
Claims for Special Attention		390.4		(48.2	)		438.6		430.4
Loans Past Due for 3 Months or More		0.9		0.6			0.2		0.5
Restructured Loans		389.5		(48.8	)		438.3		429.8
Sub-total[5]		855.9		(191.3	)		1,047.3		792.6
Normal Claims		113,062.1		6,630.5			106,431.5		107,912.5

Total[6]		113,918.0		6,439.2			107,478.8		108,705.1


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		328.8		232.8			95.9		319.6

	*(%)*
NPL ratio[5]/[6]		0.75		(0.22	)		0.97		0.72

Trust account represents trust accounts with contracts indemnifying the principal amounts.

2-8

Mizuho Financial Group, Inc.

Non-Consolidated

Aggregate Figures for the 2 Banks

(Banking Account + Trust Account)


	*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
Claims against Bankrupt and Substantially Bankrupt Obligors		30.4		8.2			22.2		33.8
Claims with Collection Risk		413.9		(155.4	)		569.3		307.7
Claims for Special Attention		378.8		(48.1	)		426.9		419.7
Loans Past Due for 3 Months or More		0.9		0.6			0.2		0.5
Restructured Loans		377.9		(48.7	)		426.6		419.1
Sub-total[1]		823.2		(195.3	)		1,018.5		761.2
Normal Claims		115,541.6		7,482.8			108,058.7		109,110.8

Total[2]		116,364.8		7,287.4			109,077.3		109,872.0


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		326.5		232.5			94.0		317.2

	*(%)*
NPL ratio[1]/[2]		0.70		(0.22	)		0.93		0.69

Mizuho Bank

	*(Billions of yen)*
Claims against Bankrupt and Substantially Bankrupt Obligors		30.4		8.2			22.1		33.7
Claims with Collection Risk		410.0		(151.7	)		561.7		303.3
Claims for Special Attention		375.3		(44.1	)		419.4		413.5
Loans Past Due for 3 Months or More		0.9		0.6			0.2		0.5
Restructured Loans		374.4		(44.7	)		419.1		412.9
Sub-total[3]		815.8		(187.5	)		1,003.4		750.6
Normal Claims		113,135.3		7,656.4			105,478.9		106,639.2

Total[4]		113,951.2		7,468.8			106,482.3		107,389.9


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		326.3		232.5			93.7		317.0

	*(%)*
NPL ratio[3]/[4]		0.71		(0.22	)		0.94		0.69

2-9

Mizuho Financial Group, Inc.

Mizuho Trust & Banking

(Banking Account)


	*(Billions of yen)*
Claims against Bankrupt and Substantially Bankrupt Obligors		0.0	(0.0	)	0.0		0.0
Claims with Collection Risk		3.8	(3.7	)	7.5		4.3
Claims for Special Attention		3.4	(4.0	)	7.4		6.1
Loans Past Due for 3 Months or More		—	—		—		—
Restructured Loans		3.4	(4.0	)	7.4		6.1
Sub-total[5]		7.3	(7.7	)	15.1		10.5
Normal Claims		2,405.2	(173.2	)	2,578.4		2,470.4

Total[6]		2,412.5	(180.9	)	2,593.5		2,481.0


Above figures are presented net of partial direct write-offs, the amounts of which are indicated in the table below.

Amount of Partial Direct Write-offs		0.2	(0.0	)	0.2		0.2

						*(%)*
NPL ratio[5]/[6]		0.30	(0.27	)	0.58		0.42

(Trust Account)

	*(Billions of yen)*
Claims against Bankrupt and Substantially Bankrupt Obligors		—	—		—		—
Claims with Collection Risk		—	—		—		—
Claims for Special Attention		—	—		—		—
Loans Past Due for 3 Months or More		—	—		—		—
Restructured Loans		—	—		—		—
Sub-total[7]		—	—		—		—
Normal Claims		1.0	(0.3	)	1.3		1.0

Total[8]		1.0	(0.3	)	1.3		1.0


						*(%)*
NPL ratio[7]/[8]		—	—		—		—

Trust account represents trust accounts with contracts indemnifying the principal amounts.

2-10

Mizuho Financial Group, Inc.

5. Status of Deposits and Loans

Non-Consolidated

(1)-1 Deposits

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
MHBK		153,616.5		568.6			153,047.8		154,828.1
MHTB		1,687.6		(195.0	)		1,882.7		1,753.5

Total		155,304.2		373.6			154,930.5		156,581.6

(1)-2 Domestic Deposits

Aggregate Figures for the 2 Banks

(Billions of yen)

As of
December 31, 2025

Change

As of
March 31, 2025

As of
September 30, 2025
(Reference)

MHBK

118,416.2

(3,800.8

)

122,217.0

120,600.3

Individual deposits

49,116.9

782.7

48,334.1

48,277.9

MHTB

1,687.6

(195.0

)

1,882.7

1,753.5

Individual deposits

672.9

(22.8

)

695.8

693.9

Total

120,103.9

(3,995.8

)

124,099.8

122,353.9

Individual deposits

49,789.8

759.8

49,030.0

48,971.8

Note: Above figures do not include deposits booked at overseas offices and offshore deposits.

(2) Loans and Bills Discounted

Aggregate Figures for the 2 Banks


	*(Billions of yen)*
	As of December 31, 2025		Change			As of March 31, 2025		As of September 30, 2025 (Reference)
MHBK		96,584.8		4,969.6			91,615.2		91,720.8
MHTB		2,393.2		(182.0	)		2,575.2		2,460.7

Total		98,978.1		4,787.6			94,190.4		94,181.5

Note: Loans to MHFG are included as follows:

As of December 31, 2025: ¥645.0 billion (from MHBK)

As of September 30, 2025: ¥265.0 billion (from MHBK)

As of March 31, 2025: ¥530.0 billion (from MHBK)

2-11

Mizuho Financial Group, Inc.

(3) Interest Margins (Domestic Operations)


		*(%)*
		Third Quarter of Fiscal 2025 (Accumulated Period)				Third Quarter of Fiscal 2024 (Accumulated Period)
Mizuho Bank				Change
Return on Loans and Bills Discounted	1		1.26		0.35		0.91
Cost of Deposits	2		0.19		0.14		0.04

Loan and Deposit Rate Margin [1]-[2]	3		1.07		0.20		0.86


Notes: 1. Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).
2. Deposits include NCDs.

(Reference) After excluding Loans to the Japanese government and others


Return on Loans and Bills Discounted	4	1.28	0.34	0.94
Loan and Deposit Rate Margin [4]-[2]	5	1.09	0.20	0.89


		*(%)*
		Third Quarter of Fiscal 2025 (Accumulated Period)				Third Quarter of Fiscal 2024 (Accumulated Period)
Mizuho Trust & Banking				Change
Return on Loans and Bills Discounted	6		1.03		0.27		0.76
Cost of Deposits	7		0.24		0.17		0.07

Loan and Deposit Rate Margin [6]-[7]	8		0.78		0.10		0.68


Notes: 1. Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).
2. Deposits include NCDs.

(Reference) After excluding Loans to the Japanese government and others


Return on Loans and Bills Discounted	9	1.03	0.27	0.76
Loan and Deposit Rate Margin [9]-[7]	10	0.78	0.10	0.68

(Reference)

(%)

Third Quarter of
Fiscal 2025
(Accumulated Period)

Third Quarter of
Fiscal 2024
(Accumulated Period)

Aggregate Figures for the 2 Banks

Change

Return on Loans and Bills Discounted

1.25

0.34

0.90

Cost of Deposits

0.19

0.14

0.04

Loan and Deposit Rate Margin [11]-[12]

1.06

0.19

0.86

Notes: 1. Return on Loans and Bills Discounted excludes loans to financial institutions (including MHFG).

2. Deposits include NCDs.

(Reference) After excluding Loans to the Japanese government and others


Return on Loans and Bills Discounted	14	1.27	0.34	0.93
Loan and Deposit Rate Margin [14]-[12]	15	1.08	0.19	0.88

2-12

Mizuho Financial Group, Inc.

(Attachments)

COMPARISON OF NON-CONSOLIDATED BALANCE SHEETS (selected items)

OF MIZUHO BANK


	*(Millions of yen)*
	As of December 31, 2025 (A)			As of March 31, 2025 (B)			Change (A) - (B)
Assets
Cash and Due from Banks	¥	58,408,270		¥	69,747,184		¥	(11,338,914	)
Call Loans		387,362			249,360			138,001
Receivables under Resale Agreements		9,476,734			10,023,199			(546,465	)
Guarantee Deposits Paid under Securities Borrowing Transactions		135,820			127,638			8,181
Monetary Claims Bought		597,781			493,032			104,748
Trading Assets		10,281,902			7,782,207			2,499,694
Money Held in Trust		500			505			(5	)
Securities		41,676,252			34,405,103			7,271,148
Loans and Bills Discounted		96,584,876			91,615,228			4,969,648
Foreign Exchanges		2,927,244			2,042,083			885,161
Derivatives other than for Trading Assets		7,780,694			6,066,571			1,714,123
Other Assets		4,997,384			5,558,146			(560,762	)
Tangible Fixed Assets		852,484			855,824			(3,340	)
Intangible Fixed Assets		532,711			505,728			26,982
Prepaid Pension Cost		266,231			375,645			(109,413	)
Deferred Tax Assets		230,102			276,640			(46,538	)
Customers’ Liabilities for Acceptances and Guarantees		13,356,571			11,573,662			1,782,909
Allowance for Loan Losses		(534,106	)		(719,269	)		185,163
Allowance for Investment Losses		—			(2	)		2

Total Assets	¥	247,958,818		¥	240,978,492		¥	6,980,326

Liabilities
Deposits	¥	153,616,557		¥	153,047,861		¥	568,696
Negotiable Certificates of Deposit		15,362,656			14,052,123			1,310,533
Call Money		2,238,434			2,169,376			69,057
Payables under Repurchase Agreements		15,001,070			19,411,662			(4,410,592	)
Guarantee Deposits Received under Securities Lending Transactions		551,522			356,931			194,590
Commercial Paper		3,529,066			2,138,133			1,390,933
Trading Liabilities		7,192,729			5,646,893			1,545,836
Borrowed Money		14,345,894			12,955,564			1,390,329
Foreign Exchanges		1,461,087			1,061,680			399,406
Bonds and Notes		742,577			407,973			334,603
Derivatives other than for Trading Liabilities		9,248,887			7,147,566			2,101,321
Other Liabilities		4,070,697			4,115,826			(45,128	)
Reserve for Bonus Payments		37,605			54,510			(16,905	)
Reserve for Variable Compensation		629			587			41
Reserve for Possible Losses on Sales of Loans		2,041			1,266			775
Reserve for Contingencies		9,460			8,616			844
Reserve for Reimbursement of Deposits		5,247			6,814			(1,567	)
Reserve for Reimbursement of Debentures		13,854			19,965			(6,111	)
Deferred Tax Liabilities for Revaluation Reserve for Land		45,281			47,059			(1,777	)
Acceptances and Guarantees		13,356,571			11,573,662			1,782,909

Total Liabilities		240,831,873			234,224,077			6,607,796

Net Assets
Common Stock and Preferred Stock		1,404,065			1,404,065			—
Capital Surplus		2,259,392			2,259,392			—
Capital Reserve		660,805			660,805			—
Other Capital Surplus		1,598,587			1,598,587			—
Retained Earnings		2,921,095			2,715,665			205,430
Appropriated Reserve		724,535			624,534			100,000
Other Retained Earnings		2,196,559			2,091,130			105,429
Retained Earnings Brought Forward		2,196,559			2,091,130			105,429

Total Shareholders’ Equity		6,584,553			6,379,123			205,430

Net Unrealized Gains (Losses) on Other Securities, net of Taxes		1,214,990			752,993			461,997
Net Deferred Hedge Gains (Losses), net of Taxes		(767,422	)		(476,383	)		(291,038	)
Revaluation Reserve for Land, net of Taxes		94,823			98,682			(3,859	)

Total Valuation and Translation Adjustments		542,391			375,291			167,099

Total Net Assets		7,126,944			6,754,415			372,529

Total Liabilities and Net Assets	¥	247,958,818		¥	240,978,492		¥	6,980,326

2-13

Mizuho Financial Group, Inc.

COMPARISON OF NON-CONSOLIDATED STATEMENTS OF INCOME

(selected items) OF MIZUHO BANK


	*(Millions of yen)*
	For the nine months ended December 31, 2025 (A)			For the nine months ended December 31, 2024 (B)		Change (A) - (B)
Ordinary Income	¥	4,677,144		¥	4,992,525	¥	(315,380	)
Interest Income		3,582,789			3,859,015		(276,225	)
Interest on Loans and Bills Discounted		*1,920,591*			2,007,059		(86,468	)
Interest and Dividends on Securities		*640,897*			608,912		31,985
Fee and Commission Income		535,732			500,073		35,658
Trading Income		157,073			171,165		(14,092	)
Other Operating Income		162,799			168,848		(6,049	)
Other Ordinary Income		238,749			293,421		(54,672	)

Ordinary Expenses		3,820,999			4,213,613		(392,614	)
Interest Expenses		2,602,652			3,078,361		(475,708	)
Interest on Deposits		*1,195,344*			1,306,974		(111,630	)
Fee and Commission Expenses		224,540			204,543		19,996
Trading Expenses		1,076			—		1,076
Other Operating Expenses		143,440			163,553		(20,113	)
General and Administrative Expenses		712,835			651,445		61,390
Other Ordinary Expenses		136,453			115,709		20,743

Ordinary Profits		856,145			778,912		77,233

Extraordinary Gains		59,927			47,284		12,642

Extraordinary Losses		10,645			7,906		2,738

Profit before Income Taxes		905,426			818,289		87,136
Income Taxes:
Current		235,645			203,185		32,460
Deferred		(31,793	)		13,764		(45,557	)

Profit	¥	701,575		¥	601,340	¥	100,234

2-14