Could you provide an overview of Mizuho's financial results for FY26 Q1?

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Consolidated Gross Profits + Net Gains (Losses) related to ETFs and others were JPY 1,070.1 billion, an increase of JPY 301.0 billion (+39.1%) YoY. This significant increase was driven by strong fee businesses mainly with domestic corporates, increased equity flows in S&T both in and outside Japan, and banking revenue growth capturing market movements, as well as the impact of higher yen interest rates.
G&A Expenses were JPY -511.0 billion, an increase of JPY 50.7 billion, as a result of yen depreciation and inflation and continued investment in growth areas and governance-related costs. Despite of this, we maintained disciplined and careful expense management overall, which led to a steady improvement in our expense ratio.
Consolidated Net Business Profits + Net Gains (Losses) related to ETFs reached JPY 575.8 billion, an increase of JPY 259.3 billion (+81.9%) YoY primarily due to strong Gross Profits. Progress against May’s outlook of JPY 1.63 trillion was at 35%.
Credit-related costs were JPY -6.1 billion, an increase of JPY 17.6 billion YoY, owing to reversal gains in FY25 Q1. Meanwhile, costs remained limited at 5% against outlook of JPY -110.0 billion.
Profit Attributable to Owners of Parent was JPY 422.9 billion, an increase of JPY 132.3 billion (+45.5%) YoY. This significant increase was primarily driven by strong growth in Net Business Profits. Progress against May’s outlook of JPY 1.30 trillion was at 32%.

For the overview of Loans in Japan and Loans outside of Japan, please refer to page 7 and 8.

For the overview of Securities Portfolio, please refer to page 11.

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