DOCSLIB.ORG

Interim Results for FY2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Interim Results for FY2018 Interim Results for FY2018 November 2018 Forward-looking Statements This presentation 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: 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; the effect of financial transactions entered into for hedging and other similar purposes; failure to maintain required capital adequacy ratio levels; downgrades in our credit ratings; our ability to avoid reputational harm; our ability to implement our Medium- term Business Plan, realize the synergy effects of "One Mizuho," 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.mizuho-fg.com/index.html 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. MHFG is a specified business company under "Cabinet Office Ordinance on Disclosure of Corporate Information, etc." Article 17-15 clause 2 and prepares the interim consolidated financial statements in the second quarter. Unless otherwise specified, the financial figures used in this presentation are based on Japanese GAAP This presentation does not constitute a solicitation of an offer for acquisition or an offer for sale of any securities Definitions FG: Mizuho Financial Group, Inc. BK: Mizuho Bank, Ltd. TB: Mizuho Trust & Banking Co., Ltd. SC: Mizuho Securities Co., Ltd. AM: Asset Management One Co., Ltd. MSUSA: Mizuho Securities USA LLC RBC: Retail & Business Banking Company CIC: Corporate & Institutional Company GCC: Global Corporate Company GMC: Global Markets Company AMC: Asset Management Company GPU: Global Products Unit RCU: Research & Consulting Unit 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 Income Attributable to FG: Profit Attributable to Owners of Parent 2 Banks: Aggregate figures for BK and TB on a non-consolidated basis Group aggregated: Aggregate figures for BK, TB, SC, AM and other major subsidiaries on a non-consolidated basis Company management basis: management figure of the respective in-house company (management figures based on results of former business units up to FY2015) 2 Mizuho Group Holding company Mizuho Financial Group Banking Trust Securities Asset Research & Other major subsidiaries Management consulting1 Mizuho Research Mizuho Private Wealth Asset Institute Management Mizuho Mizuho Trust Mizuho Management Bank & Banking Securities Mizuho Information One & Research JTC Holdings2 Institute (Rounded figures) SME, middle market, 3 One of the broadest Coverage of listed Forbes Global 200 Individual customers Securities accounts and business owner (Non-Japanese customer bases among companies in Japan Japanese financial borrowers corporate clients) institutions 24M 1.75M 100K 70% 80% Credit ratings (As of November 14, 2018) S&P Moody’s Fitch R&I JCR FG A- A1 A- A+ AA- BK / TB A A1 A- AA- AA 1. Also comprised of other organizations such as the BK Industry Research Dept., TB Consulting Dept. and Mizuho-DL Financial Technology 2. Bank holding company established on October 1, 2018 with the consolidation of Trust & Custody Services Bank, Ltd. (TCSB) and Japan Trustee Services Bank, Ltd. (JTSB) 3. Top 200 corporations from Forbes Global 2000 (excl. financial institutions) 3 Table of Contents Interim Results for FY2018: Executive Summary FY2018 Interim Review ‐ Executive Summary of Financial Results P. 6 ‐ 1. Commencement and Implementation of ‐ In-house Company Initiatives P. 8 Structural Reforms P. 30 ‐ Overview of Income Statement P. 10 ‐ 2. Accomplishing the Medium-term Business Plan P. 3 1 ‐ Overview of Balance Sheet P. 12 ‐ 3. Transition to the Next-Generation IT System P. 33 ‐ Consolidated Gross Profits P. 13 ‐ Net Interest Income P. 15 Digitalization Initiatives ‐ Overview of Loans P. 16 ‐ A.I.-based Credit Score P. 35 ‐ Loans in Japan P. 17 ‐ Transition to a Cashless Society P. 36 ‐ Loans outside Japan P. 18 ‐ Initiatives for Open Innovation P. 37 ‐ Non-JPY Funding P. 19 ‐ Non-interest Income P. 20 ESG Initiatives ‐ General and Administrative Expenses P. 21 ‐ Overview of ESG Initiatives P. 39 ‐ Securities Portfolio (Bond) P. 22 ‐ Securities Portfolio (Stock) P. 23 Undertakings by New Group CEO ‐ Credit Portfolio P. 24 ‐ Initiatives Implemented Since Appointment of ‐ Loan Portfolio outside Japan P. 25 New Group CEO P. 41 ‐ ‐ Capital Management P. 26 Our Management Issues P. 42 ‐ Our Goal P. 43 ‐ Revised Earning Plan for FY2018 P. 27 ‐ Enhancing Our Corporate Value P. 44 ‐ In-house Company Financial Results P. 2 8 ‐ In Closing P. 46 and Revised Plan Appendix 4 Interim Results for FY2018: Executive Summary Executive Summary of Financial Results (Consolidated, JPY B) FY2018 H1 YoY Gross Profits increased mainly due to the improvement of Customer Net Business Profits + Groups’ Non-interest Income both inside and outside Japan and Interest Net Gains (Losses) 330.9 +67.9 related to ETFs and Income outside Japan others* Net Business Profits 291.0 +49.3 Prevented an increase in expenses by thoroughly conducting expense control at BK and TB Recorded reversals due to further improvement of credit portfolio Credit-related Costs 29.7 -98.2 However, the reversal amount largely decreased due to lack of a large reversal such as that which occurred last fiscal year Net Gains (Losses) related to Stocks – Net Surpassed last fiscal H1 results through the continuation of sales of cross- Gains (Losses) related to 110.0 +23.5 ETFs and others* shareholdings and profits related to ETFs and others, which was the result Net Gains (Losses) related 149.9 +42.0 of operations identifying opportunities in stock markets to Stocks Strong 63% progress against the fiscal year earnings plan due mainly to Net Income +42.7 Attributable to FG 359.3 improvement of Consolidated Net Business Profits as well as reversal in Credit-related Costs and Net Gains related to Stocks CET1 Capital Ratio 12.62 % +0.13% CET1 Capital Ratio increased steadily due to the accumulation of Retained excl. Net Unrealized Gains Earnings and appropriate risk weighted asset control on Other Securities 10.41 % +0.26% * Net Gains related to ETFs (2 Banks) + Net Gains on Operating Investment Securities (SC Consolidated) 6 Executive Summary: Net Business Profits by In-house Company Net Business Profits1 Group aggregate, management accounting, rounded figures FY18 FY17 FY18 Plan 2 (JPY B) H1 H1 YoY (Progress) Offset the decrease in Net Interest Income 31.0 Retail & Business through an increase in Non-interest Income 8.3 Banking -0.1 -8.4 which was mainly through solution businesses (RBC) - for corporate clients Corporate & 244.0 Net Interest Income increased resulting from a Institutional 123.8 86.7 37.1 shift to profitable assets and Non-interest Income (CIC) 51% growth is also progressing smoothly 123.0 Net Interest Income increased due mainly to an Global Corporate increase in loans in EMEA and Asia and Non- 79.4 32.7 46.7 (GCC) interest Income showed steady performance due 65% to transaction banking profits among other factors 285.0 The Banking section showed steady progress Global Markets 132.7 138.4 -5.7 due to accumulation of Net Gains related to (GMC) 47% ETFs, however, bond related trading struggled 18.0 AUM increased based on addressing customers’ Asset Management needs for medium-to-long term asset formation, 7.7 7.4 0.3 (AMC) contributing to the increase in Net Business Profits 43% 1. Net Gains (Losses) related to ETFs are included in GMC 2. Figures for FY17 H1 are recalculated based on FY18 management accounting rules 7 Retail & Business Banking Asset Management Shift Household Assets to More Growth-focused Portfolios Initiatives towards shifting from savings to asset formation Optimal Investment products for asset formation 1 Average holding period of Publicly Offered Stock Investment Net Inflow of Client Assets (SC) 2 stock investment trust holdings Trusts AUM JPY 4 ‘Prime One’ Series denominated JPY 1.1T FY18 H1 (JPY T) 7.7 principal +JPY 120B guaranteed type Industry +JPY 530B 0.1 (first in Japan) Mizuho Average 7.2 0.9 ‘ ’ Series ＞ Mirai no sekai Global 3.2 yrs 2.9 yrs 0.5 +JPY 330B stocks 6.6 6.7 SC Company A Company B 2.
Load more

Recommended publications
  • The Chiba Bank, Ltd. Integrated Report 2020
    The Chiba Bank, Ltd. Integrated Report 2020 The Chiba Bank, Ltd. 1-2, Chiba-minato, Chuo-ku, Chiba-shi, Chiba 260-8720, Japan Integrated Report Phone: 81-43-245-1111 https://www.chibabank.co.jp/ 005_9326487912009.indd 1-3 2020/09/10 11:20:10 Introduction Our Philosophy Corporate Data The Chiba Bank, Ltd. As of March 31, 2020 Aiming to enhance “customer Principal Shareholders experience” as a partner to customers The ten largest shareholders of the Bank and their respective shareholdings as of March 31, 2020 were as follows: Number of Shares Percentage of Total (in thousands)*1 Shares Issued*2 (%) and regional communities The Master Trust Bank of Japan, Ltd. (Trust Account) 56,139 7.55 Japan Trustee Services Bank, Ltd. (Trust Account) 35,615 4.79 Nippon Life Insurance Company 26,870 3.61 The Dai-ichi Life Insurance Company, Limited 26,230 3.53 Sompo Japan Nipponkoa Insurance Inc.*3 18,537 2.49 Meiji Yasuda Life Insurance Company 18,291 2.46 SUMITOMO LIFE INSURANCE COMPANY 17,842 2.40 MUFG Bank, Ltd. 17,707 2.38 STATE STREET BANK AND TRUST COMPANY 505223 14,576 1.96 Japan Trustee Services Bank, Ltd. (Trust Account 5) 13,406 1.80 Management Policy Excluded from the figures above are 72,709 thousand treasury shares in the name of the Chiba Bank, Ltd. (Excludes one thousand shares which, although registered in the name of the Chiba Bank, Ltd. on the shareholder list, are not actually owned by the Bank.) As a regional financial institution based in Chiba Prefecture, Chiba Bank Group recognizes that *1 Rounded down to the nearest thousand *2 Rounded down to two decimal places its mission is to “contribute to the sustainable development of regional economies through the *3 The trade name of Sompo Japan Nipponkoa Insurance Inc.
    [Show full text]
  • SBI Holdings, Inc. 1St Quarter FY2019 Financial Results
    Strategic Business Innovator SBI Holdings, Inc. Financial Results for the Three-month Period Ended June 30, 2019 (Fiscal Year Ending March 31, 2020) July 30, 2019 The items in this document are provided as information related to the financial results and the business strategy of the SBI Group companies and not as an invitation to invest in the stock or securities issued by each company. None of the Group companies guarantees the completeness of this document in terms of information and future business strategy. The content of this document is subject to revision or cancellation without warning. Note: Fiscal Year (“FY”) ends March 31 of the following year [Unauthorized reproduction prohibited] 1 I. 1Q FY2019 consolidated performance (IFRS) II. Business overview of each segment III. The SBI Group’s business strategy that captures new trends in financial services [Unauthorized reproduction prohibited] 2 I. 1Q FY2019 Consolidated Performance (IFRS) (Unit: JPY million) [Year-on-year comparison] [Quarter-on-quarter comparison] 1Q FY2019 (Apr.-June 2019) 1Q FY2018 YoY % 4Q FY2018 QoQ % (Apr.-June 2018) change (Jan.-Mar. 2019) change Revenue 92,127 91,334 +0.9 96,825 -4.9 Profit before income tax 20,217 28,665 -29.5 20,131 +0.4 expense Profit for the period 13,705 20,394 -32.8 21,975 -37.6 Profit attributable to owners of the 11,677 17,879 -34.7 13,830 -15.6 Company [Unauthorized reproduction prohibited] 3 1Q FY2019 Performance by Segment (IFRS) [Year-on-year comparison] Profit before Income (Unit: JPY million) Revenue Tax Expense YoY % 1Q FY2018 1Q FY2019 YoY % 1Q FY2018 1Q FY2019 change / (Apr.
    [Show full text]
  • Annual Report 2004
    annual Report 2004 Year Ended March 31, 2004 THE TOHO BANK, LTD. Profile As the leading bank in Fukushima Prefecture, Toho Bank has contributed to the prosperity of its local communities since being established in November 1941. In response to the trust placed in us by our customers and the market region we serve, in April 2003 we initiated our new medium-term management plan “TOHO Revolution Vision 2003” as an action pro- gram. Our goal is to become Japan’s “Best Regional Bank in the 21st Century” (our long- term vision), which is evaluated positively by the market and its shareholders. We are Fukushima Prefecture aggressively addressing our customers’ increasingly diversified and sophisticated needs, Tokyo devoting our full efforts to strengthening previously executed risk management capabilities, and providing active disclosure of our financial position. Toho Bank has received a long- term credit rating of BBB+ and a short-term credit rating of A-2 from Standard & Poor’s, Fukushima City the international credit rating firm, which we have duly disclosed. As of March 31, 2004, Toho Bank had total shareholders’ equity of ¥117.0 billion (US$1,107 million) and total assets of ¥2,850.1 billion (US$26,966 million) (both figures on a consolidated basis), approximately 2,000 employees, and a business network composed of 115 branches and non-branch cash dispenser corners (ATM and CD) installed at 237 locations. Consolidated Five-Year Summary Millions of Yen Years ended March 31 2004 2003 2002 2001 2000 Total Income .................................................................................. ¥ 74,393 ¥ 69,395 ¥ 89,152 ¥ 74,174 ¥ 80,135 Income (Loss) before Income Taxes................................................
    [Show full text]
  • ANNUAL REPORT 2019 Year Ended March 31, 2019
    ANNUAL REPORT 2019 Year Ended March 31, 2019 010_9422001371909.indd 1 2019/09/20 15:24:30 Profile As the leading bank in Fukushima Prefecture, Toho Bank has contributed to the prosperity of its local communities since its establishment in November 1941. In response to the trust placed in us by our customers and the market region we serve, we have been working on our “Toho ‘Healthy Bank, Sound Bank’ Plan,” the medium-term management plan that covers three years from the fiscal year ended March 31, 2019, in order to achieve our long-term vision, “Be Large, Strong, and Powerful, serving the region with passion, and Fukushima Prefecture customers with sincerity and caring for people.” We are aggressively addressing our Tokyo customers’ increasingly diversified and sophisticated needs, devoting our full efforts to strengthening previously executed risk management capabilities, and providing active Fukushima City disclosure of our financial position. Toho Bank has received a senior long-term credit rating of “A” from Japan Credit Rating Agency, Ltd. (JCR), one of Japan’s representative rating agencies. As of March 31, 2019, Toho Bank had total net assets of ¥195.1 billion (US$1,758 million) and total assets of ¥5,910.1 billion (US$53,249 million) (both figures on a consolidated basis), 2,136 employees, and a business network composed of 118 branches. TOTAL ASSETS DEPOSITS LOANS AND BILLS PROFIT ATTRIBUTABLE TO CAPITAL ADEQUACY RATIO ¥ Billions ¥ Billions DISCOUNTED OWNERS OF PARENT (NON-CONSOLIDATED) % ¥ Billions ¥ Millions 5,662.3 5,654.8
    [Show full text]
  • Seven Bank Online Application
    Seven Bank Online Application hisunbrokenly,Hexaplaric imposture Barclay he wrathfully. bastardize enroots Bjorne so reticularly fortuitously. outriding while extensionally.Hewe Adolph is particularly always interrogating Micronesian his after babes liveliest disguising Eustace sigh If you will have online bank application form will not register to get things that accept an email confirming the Bitcoin, privacy and cypherpunk stuff www. But are they in a big pile inside the cabinet? Corp and its affiliates do not give tax or legal advice. Camden National Bank is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. Multiple payment instruments allow you an easy and fast shopping experience! Please note: These links will navigate you away from our domain. Take advantage of the Direct Banking Service and enjoy simple, easy and secure services that include all types of transactions, procedures and service applications, which are available from your PC or mobile phone. First Independence Bank gave me my first mortgage during a time when it was nearly impossible to get a condo loan in Detroit. First, login to Online Banking and change your Online Banking ID and PIN immediately. Every Southern Bank personal checking account comes with amazing features that you will not find just anywhere. Sometime during the month, you will receive a bank statement of invoice that lists all the purchases you made. The Higo Bank, Ltd. Is a home equity line of credit right for me? To foreign bank accounts overseas to Acknowledge that you will designate a payee on the same.
    [Show full text]