 Moodys Japan K.K. has assigned PA1PP-1 ratings to the USD4 billion medium-term note MTN program of Mizuho Securities Co., Ltd. MHSC. MHSCs A1 issuer rating is three notches higher than its Baa1 standalone assessment after incorporating affiliate support because of Moodys assessment of a very high probability of support from the Government of Japan A1 stable in times of need. MHSCs Baa1 standalone assessment after incorporating affiliate support is also three notches higher than its standalone assessment of Ba1 because of Moodys assessment that there is a very high probability of MHSC receiving support from Mizuho Financial Group, Inc. Mizuho, A1 stable and Mizuho Bank, Ltd. MHBK, deposits A1 stable, Baseline Credit Assessment baa1 in both normal and stress situations, given that MHSC is a key operating entity and closely integrated into the operations of Mizuho. 