Mizuho Financial Group (MFG) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2021

May 18, 2022 10:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Let me start the Mizuho Financial Holdings Investor Presentation for Fiscal Year 2022 [ph] Thank you very much for taking time out of your busy schedule today to attend the session. I am Naoaki Chisaka of the IR department, and I will be serving as the moderator.

Before we begin, let me introduce the speakers who are presenting and taking questions. From your left is Mr. Kihara, President and Group CEO and Deputy President, Group CIO and Group CFO, Mr. Umemiya.

Disclaimer before we start the session. In today's discussion, we may state forward-looking statements based on our current expectations, which are subject to risks and uncertainties. These statements are subject to risks and uncertainties. Please be aware that actual results may differ from those discussed in the forward-looking statements.

Today, we will start with a presentation from Group CEO, Mr. Kihara based on the presentation material titled Investor Presentation for Fiscal Year 2021 for about 30 minutes covering financial results and strategies followed by Q&A, during which Mr. Kihara and the Group CFO, Mr. Umemiya will take your questions. We have about 1 hour for Q&A to end around 3 p.m. Thank you in advance for your cooperation.

Mr. Kihara, the floor is yours.

Masahiro Kihara

Kihara, speaking. Thank you very much for taking time. Allow me to make your presentation at this moment. So I would like to provide an overview of the financial results on Page 4.

On consolidated net business profit increased JPY 52.4 billion year-on-year to JPY 8,521 billion. Customer groups all the 4 in-house companies' revenues grew and JPY 127.9 billion was achieved record high. And deposits, on a forward-looking basis, we provisioned credit-related expenses of JPY 30.2 billion and net gains and losses on stock transactions we canceled their funds ahead of time. There was impairment from stockholdings, so JPY 45.7 billion and because of special factors, including tax defense and so forth, we achieved net income attributable to of JPY 430 billion, up by JPY 59.4 billion, year-end dividend, JPY 0.40 per share but an increase from the previous year.

Page 5, I said that we achieved a record high ever since we established in-house companies in FY 2016, we've seen steady progress.

If you could please go Page 7. There was improvement - business improvement plan that was implemented in order to respond to systems failure. So we have shared our progress up until much and there are 3 important points.