Announcement Regarding Full Redemption of Subordinated Bonds (Public Funds)

March 10, 2005

Mizuho Financial Group, Inc. ("MHFG") hereby announces that Mizuho Holdings, Inc. ("MHHD"), a subsidiary of MHFG, agreed with related authorities to exercise its early redemption right and to redeem the subordinated bonds of 100 billion yen at the end of March 2005, which is the only remaining amount of subordinated bonds issued by MHHD and held by the Resolution and Collection Corporation. As the result of this redemption, all the subordinated bonds of public funds issued by our group companies (initial amount: 1 trillion yen) will be fully redeemed.

  1. Total amount of the subordinated bonds to be redeemed : 100 billion yen
  2. Outline of the subordinated bonds to be redeemed:
    Second series unsecured subordinated bonds issued by MHHD (Dated) : 100 billion yen(Full Redemption)

As the result of the full redemption of the subordinated bonds (public funds) and repurchase of preferred shares (public funds) during Fiscal 2004, the outstanding balance of public funds in Mizuho at the end of March 2005 will be 1,466.4 billion yen (all of which are preferred shares and on an issued price basis). The cumulative repayment amount of public funds by that time will be 1,482.6 billion yen, which is equivalent to approximately 50.3% of the initial amount of public funds (2,949 billion yen).
We strive to make early repayment of the remaining public funds of preferred shares in adherence with the sprit of related laws and regulations such as the Law of Emergency Measures for Early Strengthening of Financial Functions.

This document is prepared in order to announce specific facts relating to the full redemption of subordinated bonds issued by MHFG's subsidiary and does not constitute an offer for sale or solicitation for investment or other similar activities in and outside of Japan.


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