Disclosure of the Progress of the FY2017 Action Plan Initiatives and the FY2018 Action Plan Regarding Fiduciary Duties

June 29, 2018

Mizuho Financial Group, Inc. ("MHFG"; president & CEO: Tatsufumi Sakai) has upheld the "customer-first" principle as a central value in Mizuho's Corporate Identity as shared by all employees and executive officers of Mizuho, and has established and made publicly available its Policies Regarding Mizuho’s Fiduciary Duties*1 ("Policies") in order to fulfill our fiduciary duties*2 ("FD") regarding asset management–related business.

We now disclose, with each of our group companies, the "Progress of the FY2017 Action Plan Initiatives" and the "FY2018 Action Plan" implemented/to be implemented for the purpose of FD fulfillment according to the Policies as attached.*3

In making this disclosure, we revised the contents of the material by using more graphs than before so as to make it easier to understand for our customers. We also decided to make a group–wide disclosure instead of the previously adopted company–by–company approach.

Further, we disclosed the following three indicators in the material as the measurements that show the status of return for the products (investment trust, etc.) purchased by the customers.

  • Indicators regarding return for customers*4
    • 1.Customer ratio by investment profit/loss from investment trust funds/fund wraps
    • 2.Cost vs. return of the best–selling investment products in terms of balance of investment trust assets under management
    • 3.Risk vs. return of the best–selling investment products in terms of balance of investment trust assets under management

As a long–term partner and in order to continue to be our customers' most–trusted financial services partner, we will continue to be committed to developing and pursuing customer–focused initiatives.

  • *1Policies Regarding Mizuho's Fiduciary Duties (PDF/64KB)
  • *2Fiduciary duties is a general term for the broad range of various roles and responsibilities that fiduciaries are expected to fulfill when engaging in certain business activities in order to live up to the trust that is placed in them by their customers.
  • *3Before this disclosure, we invited the following external experts as advisors and held the Third Meeting of the Fiduciary Duty Advisory Committee.
Panel of external experts (in alphabetical order by surname)
Name Title
Kanda, Hideki Professor at Gakushuin University, emeritus professor at the University of Tokyo
Kishimoto, Sachiko Executive director, Public Resources Foundation
Wani, Akihiro Senior counselor, Morrison & Foerster
  • *4"Indicators regarding return for customers" are indicators based on "the Common KPIs comparable across investment trust distributors" announced by the FSA in June 2018.

PDF for print (PDF/42KB)

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