As President & Group CEO of Mizuho Financial Group, Inc., I would like to express our deep appreciation for your continued interest and support.

In the fiscal year 2022, while demand continued to recover due to factors such as the transition to a world of living with COVID-19, we faced global inflation triggered by structural shifts in the labor market, natural resource supply constraints caused by the situation in Ukraine and other factors. In addition, the impact of the heightened pace of monetary tightening, which is centered on Europe and the United States, materialized and the outlook for the global economy remained uncertain.

Under such circumstances, the results of operations of the group for the fiscal year 2022 were strong, driven by our Customer Group, which recorded their highest profits since the introduction of the in-house company system. The Consolidated Net Business Profits^* experienced a downward swing relative to the target due to our efforts to improve the portfolio of the Markets Group; however, excluding the impact from the downward swing, we exceeded our target of JPY 860 billion for this fiscal year, and attaining our target under the 5-Year Business Plan (JPY 900.0 billion for fiscal year 2023) is in sight. In addition, we were able to exceed our target of JPY 540 billion in relation to Profit Attributable to Owners of Parent for this fiscal year.

* Consolidated Net Business Profits + Net gains or losses related to ETFs and others (aggregate for Mizuho Bank and Mizuho Trust & Banking) + Net gains or losses related to operating investment securities (Mizuho Securities consolidated).

In addition to megatrends such as digitalization, the declining birthrate, the aging population, and globalization, we have also been witnessing the advancement of inflation worldwide, which has resulted in rapid monetary tightening and financial instability in Europe and the United States. The global spread of COVID-19 has ushered in changes in people’s behaviors, values and awareness of various issues. There is growing demand for a sustainable society, as well as rapid development of technology such as AI. Irreversible structural changes in the economy and society are underway; customer behavior and corporate activities are changing fast and on a large scale.

In a business environment where circumstances surrounding us change drastically and the complexity thereof increases, I held thorough discussions with many directors, executive officers and employees on how we could contribute to resolving the challenges faced by our clients and society while also realizing growth, what we envision as a company, what kind of world we aim for ten years in the future in order to achieve our vision, and what we imagine ourselves to be.

As a result of this process, we redefined our Corporate Identity, which is the foundation of what it means to be a director, executive officer or employee of the Mizuho group. In addition, upon determining the direction of the company's long-term growth strategy, we established a new medium-term business plan (FY2023 to FY2025) beginning one year before the originally scheduled completion of the 5-Year Business Plan (FY2019 to FY2023). The targets of the new medium-term business plan are based on the assumption that the 5-Year Business Plan’s final year targets will be met.

Proactively innovate together with our clients for a prosperous and sustainable future.
This motto, which is the Purpose we have launched, stemmed from our wish to possess foresight and address the needs of our clients and changes in society and create a new solution for such issues together; and to contribute to the revitalization of Japan and sustainable growth of the world, in turn realizing our growth through these initiatives.

The new medium-term business plan puts forth the company's long-term vision for the world, centering on personal well-being and the achievement of a sustainable society and economy to support it. We used backcasting to determine our aim for the world in 10 years and then identified the strategies that should be the focus of our attention in order for us to attain our long-term vision. The three years of the new medium-term business plan will be focused on connecting the initiatives being carried out across the company and creating new solutions to the challenges facing our clients and society as a whole. During this period, our basic policy will be to contribute to the revitalization of Japan and to sustainable global growth. Through this policy, we will build the cornerstone of future prosperity, centering on sustainability, together with our clients and society.

All of our directors, executive officers and employees will make concerted efforts to fully accomplish this medium-term business plan under our new Corporate Identity.

Finally, we appreciate your continued support and will do everything in our power to exceed your expectations.