UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2009.
Commission File Number 001-33098
Mizuho Financial Group, Inc.
(Translation of registrant’s name into English)
5-1, Marunouchi 2-chome
Chiyoda-ku, Tokyo 100-8333
Japan
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82- .
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: April 23, 2009 | ||
| Mizuho Financial Group, Inc. | ||
| By: | /s/ Tetsuji Kosaki | |
| Name: | Tetsuji Kosaki | |
| Title: | Deputy President - Executive Officer / CFO | |
April 23, 2009
| Company name: | Mizuho Trust & Banking Co., Ltd. (“MHTB”) | |||
| Representative: | Name: | NONAKA, Takashi | ||
| Title: | President & CEO | |||
| Stock code number: | 8404 Tokyo Stock Exchange (First Section); Osaka Securities Exchange (First Section) | |||
| Parent company name: | Mizuho Financial Group, Inc. (“MHFG”) | |||
| Representative: | Name: | TSUKAMOTO, Takashi | ||
| Title: | President & CEO | |||
| Stock code number: | 8411 Tokyo Stock Exchange (First Section); Osaka Securities Exchange (First Section) | |||
For Immediate Release
Revisions of Earnings Estimates for Fiscal 2008 (Fiscal Year ended March 31, 2009)
and Fiscal Year-end Dividend Estimates
MHTB hereby revises its earnings estimates (consolidated and non-consolidated) for the fiscal year ended March 31, 2009 and its fiscal year-end dividend estimates, as described below.
1. Revision of Earnings Estimates for Fiscal 2008 (April 1, 2008 to March 31, 2009)
| (Billions of yen, %) | ||||||||||||||
| Consolidated | Non-Consolidated | |||||||||||||
| Ordinary Income |
Ordinary Profits |
Net Income |
Ordinary Income |
Ordinary Profits |
Net Income | |||||||||
| Previous Estimates (A) (*) |
235.0 | 35.0 | 20.0 | 205.0 | 33.5 | 20.0 | ||||||||
| Revised Estimates (B) |
230.0 | -12.0 | -30.0 | 200.0 | -9.0 | -28.0 | ||||||||
| Net Change (B-A) |
-5.0 | -47.0 | -50.0 | -5.0 | -42.5 | -48.0 | ||||||||
| Rate of Change (%) |
-2.1 | % | — | — | -2.4 | % | — | — | ||||||
| * | Figures released on November 13, 2008 |
<Reasons for the Revision>
The earnings estimates both on a consolidated and non-consolidated basis for Fiscal 2008 are revised mainly based on the following reasons: i) net business profits (before credit-related costs for trust accounts and reversal of (provision for) general reserve for possible losses on loans) are expected to decrease, ii) credit-related costs are expected to increase, iii) net gains (losses) related to stocks are expected to worsen and iv) further decreases in deferred tax assets.
2. Revision of Dividend Estimates for Fiscal 2008
| (1) Common Stock | (yen | ) | |||||||||
| Cash Dividends per Share | |||||||||||
| (record date) |
First Quarter-end | Second Quarter-end | Third Quarter-end | Fiscal year-end | Annual | ||||||
| Previous Estimates (*) |
— | — | — | 1.00 | 1.00 | ||||||
| Revised Estimates |
— | — | — | 0.00 | 0.00 | ||||||
| Fiscal 2008 (results) |
— | 0.00 | — | — | — | ||||||
| Fiscal 2007 (results) |
— | 0.00 | — | 1.00 | 1.00 | ||||||
| * | Figures released on November 13, 2008 |
| (2) First Series Class 1 Preferred Stock | (yen) | |||||||||
| Cash Dividends per Share | ||||||||||
| (record date) |
First Quarter-end | Second Quarter-end | Third Quarter-end | Fiscal year-end | Annual | |||||
| Previous Estimates (*) |
— | — | — | 6.50 | 6.50 | |||||
| Revised Estimates |
— | — | — | 0.00 | 0.00 | |||||
| Fiscal 2008 (results) |
— | 0.00 | — | — | — | |||||
| Fiscal 2007 (results) |
— | 0.00 | — | 6.50 | 6.50 | |||||
| (3) Second Series Class 3 Preferred Stock | (yen) | |||||||||
| Cash Dividends per Share | ||||||||||
| (record date) |
First Quarter-end | Second Quarter-end | Third Quarter-end | Fiscal year-end | Annual | |||||
| Previous Estimates (*) |
— | — | — | 1.50 | 1.50 | |||||
| Revised Estimates |
— | — | — | 0.00 | 0.00 | |||||
| Fiscal 2008 (results) |
— | 0.00 | — | — | — | |||||
| Fiscal 2007 (results) |
— | 0.00 | — | 1.50 | 1.50 | |||||
| * | Figures released on November 13, 2008 |
<Reasons for the Revision>
Based on the revision of earnings estimates described in 1. above, the fiscal year-end dividend estimates of both common stock and preferred stocks are regrettably revised as shown in the above tables.
| Contact: Mizuho Trust & Banking Co., Ltd. Corporate Planning Dept. Tel: 81-3-3274-9015
|
|
This immediate release contains forward-looking statements that are based on our current expectations, including estimates and forecasts, and are subject to significant risks and uncertainties. Actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in overall economic conditions, changes in market rates of interest, declines in the value of equity securities or real estate, the deterioration of the quality of loans to certain borrowers and industry sectors, the effect of new legislation or government directives and fluctuations in foreign currency exchange rates. We disclaim any obligation to update or revise the forward-looking statements, except as may be required by the rules of the Tokyo Stock Exchange and any applicable laws and regulations.
This statement does not constitute an offer for sale or solicitation for investment or other similar activity in or outside of Japan.
|
(Reference Material)
Summary of Earnings Estimates for Fiscal 2008 (Non-consolidated)
(Billions of yen)
| Previous Estimates (November 2008) (A) |
Revised Estimates (B) |
Net Change (B)-(A) | ||||
| Net Business Profits (*) |
60.0 | 39.0 | -21.0 | |||
| Credit-related Costs |
-15.0 | -27.0 | -12.0 | |||
| Net Gains (Losses) related to Stocks |
-5.5 | -17.5 | -12.0 | |||
| Ordinary Profits |
33.5 | -9.0 | -42.5 | |||
| Income before Income Taxes |
-11.0 | |||||
| Income Taxes (Deferred) |
-17.0 | |||||
| Net Income |
20.0 | -28.0 | -48.0 |
| * | Net Business Profits before Credit-related Costs for Trust Accounts and Reversal of (Provision for) General Reserve for Possible Losses on Loans. |
| • | Net Business Profits are estimated to be approximately JPY 39.0 billion, a decrease of approximately JPY 21.0 billion compared with the previous estimate, mainly due to a decrease in gross profits from Trust & Asset Management Businesses. |
| • | Credit-related Costs are estimated to be approximately JPY -27.0 billion, a worsening of approximately JPY 12.0 billion compared with the previous estimate, mainly against the backdrop of a sharp economic downturn in Japan since the second half of Fiscal 2008. |
| • | Net Gains (Losses) related to Stocks are estimated to be a loss of approximately JPY 17.5 billion, a worsening of approximately JPY 12.0 billion compared with the previous estimate, mainly due to an increase in devaluation of stocks caused by large declines in stock prices since the second half of Fiscal 2008. |
| • | Based on the above and other factors, Ordinary Losses are estimated to be approximately JPY 9.0 billion, a worsening of approximately JPY 42.5 billion compared with the previous estimate. |
| • | Because we more conservatively estimate future profits to calculate deferred tax assets, we estimate deferred tax assets to decrease by approximately JPY 17.0 billion and record the same amount of income taxes (deferred). As a result, we estimate a Net Loss of approximately JPY 28.0 billion, a worsening of approximately JPY 48.0 billion compared with the previous estimate. |