Revitalizing regional economies

In Japan, as a result of the trend toward concentration of businesses and other economic activity solely in Tokyo, rural populations are expected to decline and regional economies are expected to shrink in the future. As a nation, Japan must look for ways to revitalize regional areas through a virtuous cycle in which jobs draw people back to local areas and population growth creates more jobs. Utilizing our office network in Japan, we are striving to promote the revitalization of regional economies by providing our clients with funding, supporting the operations of local businesses, and collaborating with regional governments.

Revitalizing regional economies through integrated banking, trust banking, and securities functions

We are integrating our banking, trust banking, and securities capabilities to provide customers with fully integrated financial services. Mizuho is offering the comprehensive services in each region to work with the relevant stakeholders to overcome local issues and to grow together with the local economies and society.

By building cooperative relationships with cities, towns, and villages, regional banks, and local chambers of commerce, Mizuho will be able to take active initiatives in counteracting the decline in local regions caused by aging and shrinking populations and the rise in welfare and medical needs, and thereby contribute to regional economies and societies.

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Collaboration with local communities

We are implementing initiatives to revitalize regional economies and industries through collaboration with local governments and agencies.

Working towards solutions for social issues

Comprehensive Cooperation Agreement on Promotion of Cashless Transactions concluded with Hachijo Town and the Hachijo Town Chamber of Commerce and Industry

In August 2020, Mizuho Bank signed a Comprehensive Cooperation Agreement on the Promotion of Cashless Transactions with Hachijo Town and the Hachijo Town Chamber of Commerce and Industry located on an island that is part of Tokyo Prefecture. Establishing cashless transactions for the island is the first step in the local government's efforts to create a "smart island" that uses digital technologies to improve its social infrastructure by improving living convenience for residents, promoting commercial activity, and facilitating research and programs to promote tourism.

Mizuho Bank, Mizuho Financial Group, Mizuho Information & Research Institute (currently Mizuho Research & Technologies), and Blue Lab Co., Ltd. are developing a concept of "digitalization x social contribution" to create a Society 5.0 for smart cities and a smart island as part of a concerted effort to create a new society and lifestyles that use digital technologies and construct a next-generation financial model to support the new society. The agreement contributes to the objectives of Hachijo Town and the Hachijo Town Chamber of Commerce and provides an opportunity to develop advanced initiatives that will serve as models for various regions.

Mizuho concludes agreement with Mitaka City to implement a premium gift certificate project for fiscal 2020

In August 2020, Mizuho Bank entered into an agreement with Mitaka City, Mitaka Chamber of Commerce, Machizukuri Mitaka, and the nonprofit Mitaka Network University Promotion Organization to implement a premium gift certificate project in Mitaka City during fiscal 2020. The agreement brings the five entities together in specific roles to implement a project offering digital and paper gift certificates, with the aims of providing economic support to the citizens of Mitaka and promoting consumption to stimulate business activity at local businesses that have been impacted by the COVID-19 pandemic. Mizuho Bank will help revitalize local economies and promote the spread of cashless payments through electronic issuing of regional development tickets and merchandise coupons.

Collaborating with Kitakyushu to achieve the SDGs

In January 2020, Mizuho Bank and 15 other financial institutions with locations in Kitakyushu City concluded an agreement with the city regarding collaboration on efforts to achieve the UN Sustainable Development Goals (SDGs). Under this agreement, the signatory financial institutions and the city will exchange information through close communication and make other efforts, working together towards achieving the SDGs. Our goal is to promote awareness of the SDGs within the local community and contribute to the development of SMEs and society in the local area. This is the first agreement of its kind in Japan involving a municipal government and multiple financial institutions.

Examples of other initiatives:

  • Mizuho has concluded a Shibuya Social Action Partner Agreement with Shibuya–ku (a ward within Tokyo)
  • Mizuho has concluded a comprehensive collaboration agreement with Setagaya–ku (a ward within Tokyo)

 

Disaster recovery efforts

Supporting Kumamoto following the 2016 earthquake

In August 2016, Mizuho Bank concluded an agreement with Kumamoto Prefecture regarding support for disaster recovery. Based on this agreement, we are collaborating with Kumamoto Prefecture, drawing on our broad knowledge of finance, including industry insight and experience in private–public sector collaboration, to act as a financial intermediary and consultant, working toward recovery in the disaster–stricken areas.

Ceremony for signing the agreement
Ceremony for the signing of the agreement

Supporting Fukushima following the 2011 earthquake and tsunami

In March 2016, Mizuho Financial Group and Fukushima Prefecture signed a collaborative agreement. Under this agreement, as a Gold Banking Partner* for the Tokyo 2020 Olympic and Paralympic Games, Mizuho will work with Fukushima Prefecture to uplift the local community with the objective of hastening Fukushima's recovery from the Great East Japan Earthquake. Following the 2011 disaster, Mizuho and Fukushima have collaborated in many ways on recovery efforts, and will work to step up these activities, including sponsoring sporting events jointly in Fukushima.

*   Mizuho is a Tokyo 2020 Gold Banking Partner.

Signing of the collaborative agreement
Signing of the collaborative agreement

Going forward, Mizuho will continue to actively promote disaster recovery and regional development.

Collaboration with others

Mizuho is moving ahead with initiatives aimed at regional revitalization, working together with a range of organizations that have specialized knowledge and capabilities.

Alliances with Blue Lab and Airbnb

In July 2017, Mizuho Bank entered alliances with Blue Lab and Airbnb with the objective of assisting these companies with the further development and expansion of their residential accommodation businesses and the promotion of tourism.

Under this alliance, with the provision of Airbnb's knowledge of the residential accommodation business and travel services as well as the support of Blue Lab's business creation functions, Mizuho will draw on our broad customer base and aim to help revitalize regional economies through expansion of tourism, by supplying accommodation, developing new travel experiences, and creating peripheral businesses, including casualty insurance.

Examples of other initiatives

Expansion of J-Coin Pay affiliated merchant network: Agreement to link with Air Pay

Implementation of a regional business collaboration agreement with Shizuoka Bank, Limited

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