Financial data

We recorded consolidated gross profits of JPY 2,252.4 billion for fiscal 2021, an increase of JPY 53.7 billion from the previous fiscal year due to factors including steady performance in the customer division.
General and administrative expenses decreased by JPY 21.7 billion on a year-on-year basis to JPY 1,392.8 billion, mainly due to an increase in amortization expenses of actuarial differences (favorable gains and losses) and steady progress in cost reductions through structural reforms.

As a result, consolidated net business profits increased by JPY 53.5 billion on a year-on-year basis to JPY 851.2 billion.

Credit-related costs increased by JPY 30.2 billion on a year-on-year basis to JPY 235.1 billion, mainly due to recording large reserves for certain clients, as well as recording reserves for Russia-related clients.
Net gains (losses) related to stocks decreased by JPY 55.9 billion on a year-on-year basis, resulting in a loss of JPY 43.8 billion, mainly due to writing off stocks such as the cancellation of bear funds introduced to stabilize a portion of unrealized gains on equity securities, despite continuing to sell stocks held for policy purposes.

As a result, ordinary profits increased by JPY 23.5 billion on a year-on-year basis to JPY 559.8 billion.
As for net extraordinary gains (losses), gains decreased by JPY 71.8 billion on a year-on-year basis to JPY 44.0 billion, mainly due to the absence of extraordinary gains from the revision of the pension plan recorded in the previous fiscal year, despite gains from the return of employee retirement benefit trust assets implemented as part of financial structural reforms since the previous fiscal year.
Income taxes decreased by JPY 114.0 billion on a year-on-year basis to JPY 60.6 billion, partly due to the tax effect of capital optimization implemented by Mizuho Securities as part of financial structure reforms.
As a result, profit attributable to owners of parent increased by JPY 59.4 billion on a year-on-year basis to JPY 530.4 billion.