President & Group CEO Masahiro Kihara PLAY LIST from the beginning Investor Presentation for FY25 H1 @Mizuho and Art Key Messages FY25 H1 Toward ＆ Beyond P/B ratio 1.5x US tariffs impact: limited at present, but remain cautious going forward Revised FY25 earnings outlook higher in line with strong business performance and one-off factors Market cap is back, but challenges still lie ahead. Shaping our future through ROE & PER improvement, becoming a global financial institution. Toward & Beyond P/B ratio 1.5x How we will be enhancing our PER (Establishing Our Unique Competitive Edges) Maintaining a sound & stable portfolio A revenue structure that delivers resilient and sustained growth Business portfolio centered on customer business with large and mid-cap corporates. Majority of credit exposure investment grade Strong growth achieved even throughout NIRP by diversification of revenue sources Achieving stable growth in revenue by leveraging profound corporate customer base Americas CIB: product and client expansion is driving balanced revenue growth Americas CIB: diversified business driving stable performance. S&T activities represent modest share of revenue vs industry average. Bond portfolio: maintaining cautious approach toward JGBs and Foreign bonds BOJ: estimating annual pre-tax benefit of JPY 120B per 25bps hike FRB: reduced sensitivity to rate cuts using HTM bonds Commitment to disciplined financial management Return on Risk Assets: through disciplined asset recycling - reducing low return assets and deploying to higher return assets - we have achieved substantial enhancement in asset profitability Cross-shareholdings: continuing reduction in line with targets, aiming to achieve a market value less than 20% of Net Assets Expenses: relentlessly pursuing efficiency and productivity, while strengthening Focus Business Areas Driving enhanced productivity and customer experience through AI Shareholder Return: announced additional share buyback of 200B, in line with our policy Growth investments: continuing disciplined approach, actively pursuing investment opportunities that will contribute to growth of Focus Business Areas EPS: aiming for quick return to historical high Focus Business Areas: strengthening edges & addressing challenges Focus Business Areas Further expanding stable revenue generation capabilities & maximizing upside potential from policy rate hikes in Japan FY25 H1 Progress by Focus Business Area (1) Strengthening our competitive edge in CIB business (IB League Tables) Consistently capturing corporate action among Japanese companies Enhanced synergies through growth investments is driving global collaboration FY25 H1 Progress by Focus Business Area (2) Progress on alliance with Rakuten Group: AM/WM & Payment services (Ref.) Enhancing convenience and benefits of day-to-day use of online banking app, aiming to increase deposit volume Enhancing Asset and Wealth Management (Ref.) Alliance with Rakuten Group: expanding our customer base by connecting everyday consumer activities with financial solutions (Ref.) Complement customer base through Strategic Capital and Business Alliance with Rakuten Group Human Capital & Business - a virtuous cycle between strategies Enhancing our Brand Why invest in Mizuho? Appendix Summary of Financial Results FY25 Earnings Outlook & Shareholder Return Financial Results by In-house Company Financial Results by In-house Company (Details) (1) Financial Results by In-house Company (Details) (2) ROE Progression Financial Results by Group Company Consolidated Gross Profits (1) Net Interest Income (NII) Breakdown of NII Loans in Japan Loans outside Japan Consolidated Gross Profits (2) Net Fee and Commission Income + Fiduciary Income Non-interest Income Consolidated Gross Profits (3) Net Trading Income+Net Other Operating Income Overview of Balance Sheet(Sep-25) Securities Portfolio Asset Quality Portfolio outside Japan (Sep-25) Basel Regulatory Disclosures Investment in “Upsider Holdings, Inc.”, a rapidly growing Japanese company equipped with a unique AI credit model Investment in “Augusta & Co”, a leading independent European financial advisory firm in the renewable energy and energy transition sector Sustainability Highlights (1) Sustainability Highlights (2) Governance (1) Skill Matrix of the Board of Directors Governance (2) Compensation framework for executives Definitions Abbreviations Back Next
