Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara) operates the Mizuho group through an in-house company system. The system currently consists of five in-house companies that determine strategies group-wide across banking, trust banking, securities, and other business areas according to the attributes of customers, as well as two units that provide functions to all of the in-house companies. In order to further strengthen our ability to meet the increasingly diverse and complex needs of our customers, on April 1, 2023 we will partially restructure this organization as follows.
We will integrate the Corporate & Institutional Company with the investment banking functions of the Global Products Unit to establish a new Corporate & Investment Banking Company. The integration will further accelerate our consolidation of corporate relationship management and products, and the resulting insights and synergies will benefit each of the in-house companies serving corporate clients. This will enable us to better assist our clients in improving their corporate value and to provide more timely support for business growth.
The Global Products Unit’s transaction banking functions will become a separate Global Transaction Banking Unit. The new unit will develop stable settlement infrastructure for the medium to long term, produce solutions integrated on a global level, and house our planning functions for next-generation settlement infrastructure strategy.
With the establishment of the Corporate & Investment Banking Company, the Global Corporate Company will change its name to become the Global Corporate & Investment Banking Company.
Corporate Identity and new medium-term business plan
Given the significant changes that have been taking place in the global business environment over the past few years, we have been reassessing the ways we can positively contribute to resolving the issues faced by our clients and society and facilitate further growth. All of our employees and executive officers share this goal and understand the need to take action.
With this common aim, we are redefining our Corporate Identity, which is our foundation, and setting a direction for the growth we will pursue over the long term. In conjunction with this, another specific initiative we are currently considering is to bring forward the end of our current 5-Year Business Plan by one year and formulate a new three-year medium-term business plan to begin next fiscal year.
Within the Corporate Identity, we are looking into revising or establishing three aspects: our Corporate Philosophy, which is permanent and is the basic thinking behind our corporate activity; our Purpose, which is our raison d’être in society; and the Mizuho Values, which are the specific values and action principles designed to realize the Purpose.
Our new direction for medium- to long-term growth is to capture customer and societal changes and work together with both our customers and society at large to create new solutions. In this way, we will endeavor to positively contribute to sustainable growth in Japan and around the world while also advancing our own growth. As a first step, in our new medium-term business plan we will focus on the areas that have the most impact for resolving societal issues and achieving sustainable growth, and we will also focus on strengthening the corporate foundations that support these areas.
We will announce more details about the Corporate Identity and medium-term business plan in May 2023