Financials

Businesses in Connection with the Russia-Ukraine Situation

March 29, 2022

Our group’s activities in Russia are conducted through AO Mizuho Bank (Moscow), our Russian subsidiary, which primarily provides services to Japanese and multinational companies operating in Russia. In addition, the London Branch of Mizuho Bank, Ltd. engages in transactions with Russian corporations.

Taking into account the business uncertainties stemming from the Russia-Ukraine situation, we plan to record reserves for possible losses as appropriate. Nevertheless, the previously announced estimates for profit attributable to owners of parent of JPY 530 billion remains unchanged. We will continue to monitor the state of affairs and make the appropriate disclosure as necessary.

(For Reference)

Russian Exposure*1: USD 2.87 billion (as of December 31, 2021) Percentage of Total Exposure: approximately 0.2%

Breakdown of Russian Exposure
Non-Japanese Clients 71%
Russian Clients*2 62%
Japanese Clients 9%
Interbank Transaction including with Central Banks 20%

Ukrainian/Belarusian Exposure: None

*1: Banks consolidated (Mizuho Bank and Mizuho Trust & Banking). Inclusive of loans, commitment lines, guarantee transactions, derivatives-related credit, etc. The amount takes into account guarantee balance according to its ultimately associated country.
*2: Inclusive of project finance transactions.

End

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. 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. Our views regarding earnings estimates for fiscal 2021 set forth in this immediate release are based on our assessment of information regarding the business and market environment that are available as of the date of this immediate release and assumptions regarding factors that are currently uncertain and may impact our financial performance. Actual results may differ materially, for example, if our assessment of business and market environment and their impact on our business, financial condition and results of operations proves to be inaccurate. Other factors that could affect our financial condition and results of operations are 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, 2021, both of which are available in the Financial Information section of our web page at www.mizuhofg.com/index.html and also at the SEC’s web site at www.sec.gov. 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.

 

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