Schedule 13G: Mizuho Reports 718,470 FSHPU Shares (8.1%)

Rhea-AI Filing Summary

Mizuho Financial Group, Inc. reports beneficial ownership of 718,470 common shares of Flag Ship Acquisition Corporation, representing 8.1% of the class. The Schedule 13G amendment shows Mizuho holds sole voting and sole dispositive power over these shares, meaning it can vote and dispose of the reported shares. The filing certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The statement also identifies Mizuho as a parent holding company and references an exhibit naming the subsidiary that directly acquired the securities.

Positive

• Mizuho reports a material 8.1% stake (718,470 shares)
• Filing certifies the position is passive and held in the ordinary course
• Sole voting and dispositive power reported — clear control over voting and disposition of these shares

Negative

• None.

Insights

Financial Analyst

TL;DR: Mizuho holds a material 8.1% position (718,470 shares) reported as a passive, ordinary-course holding under Schedule 13G.

The disclosed 718,470-share stake is sizable relative to the class at 8.1% and therefore material to holders and potential buyers of FSHPU stock. The filing records sole voting and dispositive power, which means Mizuho can exercise voting rights and sell the shares. However, because the filer certified the position is held in the ordinary course and not to influence control, the immediate governance impact appears limited based on this document alone.

Corporate Governance Expert

TL;DR: Schedule 13G status indicates passive ownership; parent-holding classification and referenced exhibit identify the acquiring subsidiary.

The filing designates Mizuho as a parent holding company and references an exhibit identifying the subsidiary that directly holds the securities, which is standard disclosure practice. The explicit certification that the holdings are not intended to change or influence control supports classification as a passive investor. From a governance standpoint, the report raises awareness of a significant shareholder but does not, by itself, signal activism or control actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Flag Ship Acquisition Corporation

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G3530C109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G3530C109

1

Names of Reporting Persons

Mizuho Financial Group, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 718,470.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 718,470.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

718,470.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.1 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Mizuho Financial Group, Inc., Mizuho Bank, Ltd. and Mizuho Americas LLC may be deemed to be indirect beneficial owners of said equity securities directly held by Mizuho Securities USA LLC which is their wholly-owned subsidiary.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Flag Ship Acquisition Corporation
(b)	Address of issuer's principal executive offices: 26 Broadway Suite 934 New York, NY, 10004
Item 2.
(a)	Name of person filing: Mizuho Financial Group, Inc.
(b)	Address or principal business office or, if none, residence: 1-5-5, Otemachi, Chiyoda-ku, Tokyo, 100-8176, Japan
(c)	Citizenship: Japan
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: G3530C109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Parent Holding Company
Item 4.	Ownership
(a)	Amount beneficially owned: 718,470
(b)	Percent of class: 8.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 718,470
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 718,470
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit A
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Parent Holding Company is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Mizuho Financial Group, Inc.

Signature:	/s/ Takahiro Katsura
Name/Title:	Takahiro Katsura, Managing Director, Global Corporate Function Coordination Department
Date:	08/13/2025

FAQ

How many FSHPU shares does Mizuho own according to this filing?

The filing reports 718,470 common shares of Flag Ship Acquisition Corporation, representing 8.1% of the class.

Does Mizuho have voting power over the FSHPU shares?

Yes. The filing indicates sole voting power and sole dispositive power for the 718,470 shares.

Is the ownership reported as active or passive for FSHPU?

The Schedule 13G filing includes a certification that the securities are held in the ordinary course of business and not to change or influence control, indicating a passive holding.

What form was filed for this disclosure about FSHPU?

The disclosure was made on a Schedule 13G (Amendment), which is the form used for certain passive holdings above 5%.

Who signed the Schedule 13G filing for Mizuho?

The filing is signed by Takahiro Katsura, Managing Director, Global Corporate Function Coordination Department, on behalf of Mizuho Financial Group, Inc.