Business Context and Reporting Period
This Form 6-K filing by Mizuho Financial Group, Inc. (Mizuho) is dated March 13, 2014. The report serves as a correction notice for previously disclosed financial data under Japanese GAAP and Basel III standards. It addresses errors in documents released between May 2013 and February 2014, specifically regarding capital ratios and risk-weighted assets for fiscal years ending March 2013 and interim periods through December 31, 2013.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, or margin data. It focuses exclusively on regulatory capital metrics. The corrected figures for Mizuho Financial Group (Consolidated) and Mizuho Trust & Banking (Non-Consolidated) are as follows:
| Period | Metric | Corrected Value |
|---|---|---|
| March 31, 2013 | Total Capital Ratio (Consolidated) | 17.21% |
| March 31, 2013 | Risk Weighted Assets (Consolidated) | 2,599.6 Billion Yen |
| June 30, 2013 | Total Capital Ratio (Consolidated) | 14.40% |
| June 30, 2013 | Risk Weighted Assets (Consolidated) | 59,103.2 Billion Yen |
| September 30, 2013 | Total Capital Ratio (Consolidated) | 14.97% |
| September 30, 2013 | Risk Weighted Assets (Consolidated) | 58,792.8 Billion Yen |
| December 31, 2013 | Total Capital Ratio (Consolidated) | 14.87% |
| December 31, 2013 | Risk Weighted Assets (Consolidated) | 60,593.6 Billion Yen |
Non-consolidated figures for Mizuho Trust & Banking were also adjusted, with the Total Capital Ratio as of December 31, 2013, corrected to 18.78%.
Material Changes Versus Prior Period
The filing details minor adjustments to previously reported capital ratios and risk-weighted assets. The changes are generally marginal:
- March 31, 2013: Consolidated Total Capital Ratio decreased from 17.22% to 17.21%. Risk-weighted assets increased slightly from 2,598.0 to 2,599.6 billion yen.
- June 30, 2013: Consolidated Total Capital Ratio decreased from 14.41% to 14.40%. Risk-weighted assets increased from 59,099.4 to 59,103.2 billion yen.
- September 30, 2013: Consolidated Total Capital Ratio decreased from 14.98% to 14.97%. Risk-weighted assets increased from 58,789.0 to 58,792.8 billion yen.
- December 31, 2013: Consolidated Total Capital Ratio remained at 14.87%, but the comparative September 30, 2013 figure was updated from 14.98% to 14.97%.
The filing explicitly states there is no change to the Capital Ratio of Mizuho Financial Group as of March 31, 2013, and December 31, 2013, regarding the primary reported values, though the underlying components (Risk Weighted Assets) were adjusted.
Guidance, Outlook, and Risks
This filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks. The document is strictly a retrospective correction of historical data. The primary contingency addressed is the accuracy of previously filed regulatory capital disclosures.
Investor Verification Checklist
- Verify that the corrected capital ratios (Total, Tier 1, and Common Equity Tier 1) are reflected in updated financial models.
- Confirm the impact of the adjusted Risk Weighted Assets on the company's regulatory capital adequacy calculations.
- Review the specific documents listed in the filing (May 2013 through February 2014) to ensure all historical references are updated.
- Note that the filing does not provide updated revenue or earnings data; rely on separate earnings releases for operational performance.