Medium-term business plan
We have established a new medium-term business plan for the three years starting from FY2023. In establishing this new medium-term business plan one year early, we set FY2023 financial targets under the assumption that the targets in the previous 5-Year Business Plan will have been met.
1. Basic policy
Three years of connecting the initiatives being carried out across Mizuho and creating new solutions to the challenges facing our clients and society as a whole
- Make the most effective use of corporate resources through a flexible business development approach
- Together with our clients and society, build the cornerstone of future sustainable growth and prosperity
2. Business focus areas
(1) Support for the doubling of asset-based income
(2) Enhancing customer touchpoints
(3) Enhancing the competitiveness of Japanese companies
(4) Sustainability and innovation
(5) Global Corporate & Investment Banking (CIB) business model
3. Enhancing our corporate foundations
(7) Human capital enhancement
(8) Digital transformation
(9) IT reforms
(10) Maintenance of stable business operations (in support of Nos. 1 to 9)
4. Targets
| Consolidated ROE1 | FY2025 over 8% |
| Consolidated Net Business Profits2 | FY2025 JPY 1 1.1 trillion |
| Engagement score3 | FY2025 65% |
| Inclusion score3 | FY2025 65% |
1: Excluding Net Unrealized Gains (Losses) on Other Securities
2: Consolidated Net Business Profits + Net Gains (Losses) related to ETFs (Mizuho Bank and Mizuho Trust & Banking) + Net Gains on Operating Investment Securities (Mizuho Securities consolidated)
3: Based on the positive response rate (selection of 4 or 5 on a scale from 1 to 5) for four Staff Survey questions related to engagement and inclusion
Position of the new medium-term business plan
Backcasting from our vision for the future, we have revised our Corporate Identity and launched the new medium-term business plan
Basic policy of the new medium-term business plan
The new medium-term business plan target
[Assumed financial indicators] JGB (10-yr): 0.95%, Nikkei 225: JPY 30,000, USD/JPY: JPY 120 (FY25)
1. Excl. Net Unrealized Gains (Losses) on Other Securities.
2. Consolidated Net Business Profits + Net Gains (Losses) related to ETFs and other.
3. Based on the positive response rate (selection of 4 or 5 on a scale from 1 to 5) for four Staff Survey questions related to engagement and inclusion
This report contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including estimates, forecasts, targets, and plans. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These forward-looking statements do not represent any guarantee by management of future performance. The figures listed above are based on the US GAAP accounting standards and the extent of the impact on the consolidated financial information is unspecified.
These statements reflect our current views with respect to future events and are subject to risks, uncertainties, and assumptions. These risks and uncertainties include, but are not limited to: incurrence of significant credit-related costs; declines in the value of our securities portfolio; changes in interest rates; foreign currency fluctuations; failure to comply with laws or regulations; the manifestation of operational risk or IT system risk; and the effect of changes in general economic conditions in Japan and elsewhere. For these reasons, there is no guarantee that forward-looking statements will match actual results. Further information regarding factors that could affect our results is included in a number of publicly available documents published by Mizuho. These include our annual securities report, Integrated Report, and "Item 3.D. Key Information―Risk Factors" in our most recent Form 20-F filed with the U.S. Securities and Exchange Commission, which is available in the Financial Information section of our web page at www.mizuhogroup.com and also at the SEC’s web site at www.sec.gov.
We do not intend to update our forward-looking statements. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.