Value creation process
At Mizuho, following our Purpose, we take an integrated approach to creating social value and enhancing corporate value.
We will take on challenges alongside our customers and society, and we will grow as a company as we create a positive social impact. We will connect that growth with further value creation, aiming for a virtuous cycle of social value creation and enhancement of corporate value.
Business strategies by in-house company/unit
Retail & Business Banking Company
We will address challenges arising from the social and business environments surrounding our customers around the world, such as the new era of longer lifespans, sustainability transformation, digital transformation, and asset and business succession, by efficiently allocating corporate resources and undertaking growth investment to sustainably grow our customer base as we endeavor to shift to a phase of business growth and expansion. This will enable us to contribute to improved personal well-being for individual customers and support the growth strategies and business transformation of corporate clients.
Corporate & Investment Banking Company
In order to further strengthen our ability to meet the increasingly diverse and complex needs of our clients, we established the new Corporate & Investment Banking Company by integrating the Corporate & Institutional Company with the investment banking functions of the Global Products Unit. Increasing public interest in sustainability and other social issues is accelerating various structural shifts. By resolving social issues and supporting clients to enhance their corporate value, we will contribute to the sustainable growth and prosperity of industry, the economy, and society as a whole.
Global Corporate & Investment Banking Company
As a strategic partner supporting our clients' global businesses, we will leverage our firm presence in the US capital markets and our extensive network in Asian economic zones to provide comprehensive financial
solutions to clients in each region. In addition, we will use engagement as a means of supporting their business development and transition to decarbonization, while also helping to resolve social issues.
Global Markets Company
Regarding our sales and trading business, we will enhance our ability to respond to diversifying client needs by further acceleration of integrated banking and securities operations in each region, and boost our capacity to provide market solutions, and to pursue digitalization.
With respect to our banking operations, under the situation in which highly uncertain market conditions are expected to continue, we will realize stable earnings by controlling risks through flexible operations by early warning signals management and close market analyses.
Asset Management Company
To cultivate asset formation and management that meets customers' needs, we will further strengthen our investment capabilities through selection and concentration attuned to the demands of the times, while enhancing our product lineup and provision of solutions. We will aim to grow the asset management business further by responding as part of a unified group, including long-term asset formation for individual customers that benefits from the support of the tax system for Nippon Individual Savings Accounts (NISAs) and individual-type defined contribution pension plans (iDeCo), and investment diversification needs including alternative investments for institutional investors.
Global Transaction Banking Unit
The Global Transaction Banking Unit was set up as a dedicated unit to respond precisely to needs in relation to transaction banking business, which are increasing in sophistication and complexity globally. We aim to establish a new, highly secure and convenient business domain in which we take advantage of advancing digitalization while continuing to provide reliable settlement services.
Research & Consulting Unit
Mizuho will differentiate itself by setting its sights one step ahead as it endeavors to solve the issues of its clients and society. To that end, we will deliver distinctive research content and provide highly specialized consulting services in response to rising social, economic, and industrial uncertainty and the changing needs of our clients.
Retail & Business Banking Company
We will address challenges arising from the social and business environments surrounding our customers around the world, such as the new era of longer lifespans, sustainability transformation, digital transformation, and asset and business succession, by efficiently allocating corporate resources and undertaking growth investment to sustainably grow our customer base as we endeavor to shift to a phase of business growth and expansion. This will enable us to contribute to improved personal well-being for individual customers and support the growth strategies and business transformation of corporate clients.
Business overview
The company is in charge of the customer segments of individual customers, SMEs, and middle-market firms
*Materiality areas:
- Declining birthrate and aging population, plus good health and lengthening lifespans
- Industry development and innovation
- Sound economic growth
- Environment and society
Strengths
- Consulting and solutions that seamlessly leverage group-wide collaboration between banking, trust banking, securities and other business areas for both individual customers and corporate clients
- Capability to respond to customer needs and originate business, strengthened under the new branch network dedicated respectively to individual customers and corporate clients
- Broad network with startups/innovative companies, IT platform providers, and IT players
Focuses
- We will build up a comprehensive asset consulting framework to provide robust support for individual customers' asset formation and management. In addition, we will provide solutions and risk capital to middle market firms, SMEs, and startups/innovative companies for which business succession or growth is expected.
Optimization
- We will simultaneously upgrade the quality of customer services and boost operational efficiency by improving digital channels, which will enable us to improve customer experience by shifting human resources to provision of consulting and solutions.
Measures to achieve medium-term business plan
We will improve customer experience by providing highly convenient digital services enabling various transactions to be completed without visiting our locations, while at the same also bolstering our capacity to serve customers either at branches or remotely by placing importance on customer touchpoints. For individual customers, we will meet their asset formation and management needs by means of highly convenient service channels and comprehensive asset consulting; for corporate clients we will provide high added-value solutions leveraging Mizuho's know-how, insight, and networks.
Balance of individual assets under management (JPY trillion)
Revenues from Corporate Solutions (JPY billion)
Corporate & Investment Banking Company
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In order to further strengthen our ability to meet the increasingly diverse and complex needs of our clients, we established the new Corporate & Investment Banking Company by integrating the Corporate & Institutional Company with the investment banking functions of the Global Products Unit. Increasing public interest in sustainability and other social issues is accelerating various structural shifts. By resolving social issues and supporting clients to enhance their corporate value, we will contribute to the sustainable growth and prosperity of industry, the economy, and society as a whole.
Business overview
As the in-house company in charge of large corporations, financial institutions, and public-sector entities in Japan, the company provides products (M&A, real estate, etc.) on a group-wide basis.
*Materiality areas:
- Industry development and innovation
- Sound economic growth
- Environment and society
Strengths
- Capacity to co-create value with clients through sector coverage structure, aligned among banking, trust banking, and securities
- Merged organization of sector coverage and product line to enhance capability to connect various functions within the Mizuho group and provide both financial and non-financial solutions
- Ability to provide sound risk capital for co-creating value with clients
Focuses
- In terms of sustainability including decarbonization, we aim to create businesses in a wide range of domains beyond finance by engaging deeply with clients and taking action to resolve their issues, as well as the issues affecting society and industry.
Optimization
- We will establish an appropriate balance of risk & return by reviewing our business portfolio. With regard to cross-shareholdings, we are continuing their steady reduction and effectively reallocating capital to highly profitable product areas, mezzanine financing, and the like.
Measures to achieve medium-term business plan
We will bolster our role as a partner that co-creates value with clients by accurately identifying the major trends of structural change in society and industry and providing a diverse range of financial and non-financial solutions to facilitate clients' sustainable growth and prosperity. By integrating coverage and products following the establishment of the new in-house company, we will ensure "market-in" approaches to clients (i.e., approaches informed by client needs), thereby enhancing our ability to provide solutions.
- Equity underwriting amount worldwide, bookrunner basis. Source: Refinitiv
- Including straight bonds, investment corporation bonds, zaito institution bonds, municipal bonds (lead manager method only), samurai bonds, and preferred securities and excluding bonds issued by Mizuho.
Source: Refinitiv. - Deals in which Japanese companies were publicly involved. Excluding real estate. Source: Refinitiv
- Source: Refinitiv
Strategic investment balance5
- Strategic Investment. Hybrid financing, Equity & Mezzanine, etc.
- With FY2019 results as 100
Global Corporate & Investment Banking Company
As a strategic partner supporting our clients' global businesses, we will leverage our firm presence in the US capital markets and our extensive network in Asian economic zones to provide comprehensive financial solutions to clients in each region. In addition, we will use engagement as a means of supporting their business development and transition to decarbonization, while also helping to resolve social issues.
Business overview
Providing solutions on a unified group basis to clients including both Japanese companies operating outside Japan and non-Japanese companies.
*Materiality areas:
- Industry development and innovation
- Sound economic growth
- Environment and society
Strengths
- Corporate & Investment Banking (CIB) business model that offers both balance sheet and capital markets / investment banking functions such as DCM, ECM, and M&A, and a firm presence in US capital markets
- Extensive international network centered on Asia where the economy is growing
- Robust client base and strong loan portfolio
Focuses
- The growth drivers in our business outside Japan are the US, which has the largest fee pool, and Asia, which has strong economic fundamentals. We are working toward further growth by prioritizing allocation of corporate resources in these regions.
Optimization
- We will consolidate administrative operations outside Japan into Mizuho Global Services India and deploy best practices and digital transformation to standardize work processes. At the same time, we will strategically reallocate corporate resources throughout each region, replacing underperforming assets with highly profitable assets.
Measures to achieve medium-term business plan
We will take bold steps to improve asset profitability through further enhancement of CIB capabilities in the US, and through expanding non-interest income and revising our portfolio by extending the CIB model to Asia-Pacific and EMEA. We will also take steps to enhance our framework of internal controls and business expansion to ensure its alignment with increasingly demanding supervisory perspectives and tightened regulations. Towards further business growth and stable operations, we will enhance and diversify our human capital portfolio by employing professional human resources well-acquainted with each local market and developing the core personnel who can work internationally in the future.
League tables
- Bonds issued by investment grade corporations, fee basis. Source: Dealogic.
- Bonds and loans issued by non-investment grade corporations, fee basis. Source: Dealogic.
Transaction banking
(Asia-Pacific (USD million))
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Global Markets Company
Regarding our sales and trading business, we will enhance our ability to respond to diversifying client needs by further acceleration of integrated banking and securities operations in each region, and boost our capacity to provide market solutions, and to pursue digitalization.
With respect to our banking operations, under the situation in which highly uncertain market conditions are expected to continue, we will realize stable earnings by controlling risks through flexible operations by early warning signals management and close market analyses.
Business overview
The company engages in sales and trading (S&T) business offering market products, and banking operations comprising asset and liability management (ALM) and investment.
*Materiality areas:
- Sound economic growth
Strengths
- S&T business integrated across banking and securities, aligned to regional characteristics in the US, EMEA, Asia (ex-Japan) and Japan respectively
- Stable S&T business underpinned by various clients under the Corporate & Investment Banking (CIB) business model
- Global ALM management and flexible portfolio management by capturing early warning signals, etc. in our banking operations
Focuses
- In our S&T business, we will focus on expanding product lines that contribute to growth of the CIB business model around the world, and ensure earnings stability through business diversification and transaction flows. In our banking operations, we will improve our Japanese yen- and foreign currency-based ALM to ensure it is responsive to changes in the market environment and focus on flexible portfolio management integrating investment and ALM.
Measures to achieve medium-term business plan
We will focus on expanding equities business in Japan and the US, and derivatives business in Asia (ex-Japan), while in the EMEA region we will focus on products consistent with our CIB business model. This will enable us to further accelerate integrated banking and securities operations within the S&T business in each region. To manage increasing foreign-currency assets on our balance sheet, we will increase the stability of our capacity to procure foreign currency funding, including by effectively using yen-dominated assets. In investment product sales in Japan, we will aim to increase earning opportunities from corporate clients by furthering acceleration of integrated banking and securities operations through reinforcement of our capacity to provide financial product intermediary services.
Ex-Japan S&T Revenues (JPY billion)
Medium- to long-term foreign currency funding amounts (USD billion, %)
Asset Management Company
To cultivate asset formation and management that meets customers' needs, we will further strengthen our investment capabilities through selection and concentration attuned to the demands of the times, while enhancing our product lineup and provision of solutions. We will aim to grow the asset management business further by responding as part of a unified group, including long-term asset formation for individual customers that benefits from the support of the tax system for Nippon Individual Savings Accounts (NISAs) and individual-type defined contribution pension plans (iDeCo), and investment diversification needs including alternative investments for institutional investors.
Business overview
The company acts as part of a unified group to provide investment products and solutions that match the asset management needs of a wide range of customers, from individuals to institutional investors.
*Materiality areas:
- Declining birthrate and aging population, plus good health and lengthening lifespans
- Sound economic growth
- Environment and society
Strengths
- Asset Management One, our in-house asset management arm, characterized by strong investment capabilities and advanced sustainability initiatives
- Distribution network in and outside Mizuho group and robust support platform
- Providing solutions to institutional investors as a unified group
- Wide-ranging contact points with corporate clients through corporate pension scheme management and their employees as potential individual customers
Focuses
- Expand asset formation and asset management services for individual investors, and enhance investment performance
- Promote asset formation for individual investors through the pension business
- Bolster investment solutions and alternative investments capabilities that match the needs of institutional investors
Measures to achieve medium-term business plan
For individual customers, in addition to enhancing our investment capabilities, we will expand our product portfolio, including strategic products for the new NISA, through appropriate collaboration with our internal distribution network, ensuring our fiduciary duties. We will also support human capital enhancement for corporate clients and promote asset formation for individual customers through the pension business. Furthermore, we will develop and provide investment solutions addressing the needs of pension funds and other institutional investors, and strengthen our alternative investment capabilities.
Publicly offered investment trust assets under management balance* (JPY trillion)
*Balance of publicly offered equity investment trusts excluding ETFs.
DB/DC pension assets under management balance* (JPY trillion)
*Total balance of assets in defined benefit (DB) and defined contribution (DC) pensions
(corporate and individual-type DC pensions)
Number of individuals enrolled in iDeCo (thousand)
Global Transaction Banking Unit
The Global Transaction Banking Unit was set up as a dedicated unit to respond precisely to needs in relation to transaction banking business, which are increasing in sophistication and complexity globally. We aim to establish a new, highly secure and convenient business domain in which we take advantage of advancing digitalization while continuing to provide reliable settlement services.
Business overview
The Global Transaction Banking Unit provides a range of solutions in the transaction banking area including settlement, cash management, securities management, and trade finance for corporate clients in Japan and elsewhere around the world.
Strengths
- Providing financial products in a client-oriented and multi-layered way, and offering sophisticated product expertise
- Ability to provide solutions on a global basis, by leveraging networks both in Japan and around the world
- Recognized as top rated bank in custody and trade finance business both in the Japanese and broader Asian markets
Measures to achieve medium-term business plan
We will constantly work to maintain and reinforce our settlement infrastructure and platform in order to provide stable settlement services as a form of social infrastructure. In addition, we will endeavor to create next-generation business opportunities by offering solutions that address global changes in trade flows, supply chains, and regulations, and also responding flexibly to trends including new settlement technologies or settlement service providers.
Research & Consulting Unit
Mizuho will differentiate itself by setting its sights one step ahead as it endeavors to solve the issues of its clients and society. To that end, we will deliver distinctive research content and provide highly specialized consulting services in response to rising social, economic, and industrial uncertainty and the changing needs of our clients.
Business overview
The Research & Consulting Unit leverages its knowledge of industry, corporations, economics, and financial markets and its expertise in business strategy, sustainability, digital transformation, and similar fields to support all the in-house companies.
Strengths
- High-quality research functions backed by deep knowledge of industry, corporations, economics, and financial markets
- Consulting functions exercising high levels of expertise in business strategy, sustainability, digital transformation, and similar
- Combining various areas of expertise and coordinating financial functions within the group to enable high-quality, innovative value creation
Measures to achieve medium-term business plan
- Deliver distinctive research content addressing specific themes or cross-sector businesses, focused either one step ahead or on the medium- to long term
- Strengthen consulting capabilities centering on the business strategy, sustainability, and digital transformation, including combining insights across multiple areas and collaborating with partners inside and outside Mizuho.
- Sow the seeds for new businesses by strengthening initiatives that utilize external knowledge and other resources to address new fields.
Digital Transformation
Toward a prosperous future with our customers through co-creation in the DX domain with a wide variety of partners
"Proactively innovate together with our clients for a prosperous and sustainable future."
We believe that our commitment to DX is the very essence of Mizuho's new purpose. Technology evolves and advances like a surging wave, which is about to change the structure of our society with unimaginable speed. In these uncertain times, it is essential that we continue to update ourselves and boldly take on new challenges without fear of failure in order to deliver growth and prosperity to our customers and society.
Looking back over the past year, many of our initiatives have begun to produce results, such as the embedded finance solution House Coin, local government DX, and our work with the metaverse. However, looking at the group as a whole, these movements are not yet prevalent. And there are still many issues to be addressed for us to take full advantage of our strengths in the DX area, including the cutting-edge technological insights and IT implementation capabilities accumulated throughout the Mizuho group, our broad network with highly skilled start-ups and large corporates, and our open and multifaceted alliances with Google and other companies.
We will accelerate our efforts to further promote DX, including developing DX personnel and promoting data utilization, and blaze a trail to a future of mutual prosperity by linking our strengths with those of our diverse partners in order to address the issues facing our customers and society.
Mizuho's digital transformation strategy
We will leverage our strengths in the DX area to improve convenience for customers, contribute to the business strategies of our partner companies, and create new businesses. In addition, as the foundation to support these efforts, we will work to transform work styles and develop DX personnel.
1. A company specializing in new business creation established in June 2017 owned by Silicon Valley venture capital firm WiL (largest shareholder), Mizuho Bank, and others.
2. Established in April 2023, as a wholly-owned corporate venture capital of Mizuho Financial Group.
Improving customer experience
JPY 100 billion digital investment in the medium term
We will provide digital services that allow retail customers and corporate clients to complete transactions and administrative matters without visiting a branch. By shifting more basic or administrative services to a smooth and quick self-service and reviewing the opening hours of branches, we aim to turn branches into spaces for providing in-person consulting to customers.
Leveraging digital marketing platforms to provide financial services tailored to each customer
We will analyze customer information, financial data, and behavioral data, with the customer's consent, and use the results to increase the value of the customer experience by developing personalized marketing that offers solutions at the right time and through the right channel.
For example, we will build a service that allows customers to receive timely recommendations from digital channels, personal consultants, and contact centers on topics of interest based on their web/app browsing history, in-branch conversations, and other interactions.
Creating new value through co-creation
Mizuho has designated "Financial DX," "ESG (sustainability transformation)," and "Tech-oriented" as the three DX focus areas to deliver new value to society's and customers' pain points.
Mizuho's Innovations
New business development organization: Blue Lab Co., Ltd.
We have assigned 30 people dedicated to creating new businesses, and are strengthening collaboration with external parties such as companies and local governments in addition to our own support for businesses originated by Mizuho, in order to carry out proof of concept (PoC) and pursue open innovation in the financial and non-financial domains.
Growth mindset: Unifying executive officers and employees
Over the past two years, we have run workshops covering the design thinking and growth mindset necessary for innovation and DX—including ideas like "Yes, And..." and "Fail Early, Fail Often"—in collaboration with Silicon Valley venture capital firm WiL. More than 1,200 employees have participated so far. Group CEO Kihara and other executives also participated, fostering a new culture in which executives and employees are united in taking on challenges.
A prosperous future starts here. Joint development with Panasonic of "everiwa wallet," a proprietary payment system that enables secure and reliable payment of EV charging fees
EVs are expected to promote carbon neutrality, but their penetration rate in Japan is still 1.4% (in 2022). In order to increase adoption of EVs, we must develop charging infrastructure throughout Japan so that EVs can be used reliably by anyone, anywhere.
Mizuho Bank and Panasonic Corporation's Electric Works Company have jointly developed "everiwa wallet," a dedicated payment service that enables contactless payment and receipt of charging fees in the "everiwa Charger Share" EV charging infrastructure sharing platform, based on the embedded finance solution "House Coin."
Why we chose "House Coin"
We believe that to build a network that can recharge batteries anywhere in Japan, individuals are just as important as companies. The primary reason for adopting "House Coin" is that it can provide a system whereby EV charger hosts—both individuals and companies—can process payments securely and reliably, and even individuals can receive revenue.
Another deciding factor was that it is based on J-Coin Pay, which has a consistent operational track record with a network of more than 900 financial institutions and 1.4 million merchant locations across all prefectures.
The strengths of "House Coin"
Services can be customized to address clients' specific concerns, such as by developing functions requested by business clients and incorporating existing services. This flexibility is a major strength.
In the market of prepaid e-money used in a limited domain, which has the potential to grow to JPY 7 trillion* in the future, Mizuho will expand its efforts to provide House Coin services to a wide range of companies and local governments, aiming to become a platform provider.
* 2025 estimate
The Hachijojima Smart Island Project: Utilizing digital technology to make a more desirable island for tourists and residents
Hachijo Town faces challenges such as a declining birthrate and aging population, decreasing tourist numbers, and the need to prepare for natural disasters. The town has entered into a Comprehensive Partnership Agreement on Sustainability and DX Promotion with Mizuho Bank and Mizuho Research & Technologies to proceed with the "Smart Island Project," which aims to achieve a sustainable community that takes advantage of the unique charm of the island.
Why we chose Mizuho as our partner
Mayor Yamashita: Mizuho has a deep understanding of the town's social and administrative challenges, knowledge of digital technology and sustainability, specialist personnel with expertise in DX, finance, and management, and a broad network of business partners.
With Mizuho's help, we are pursuing DX on the island in a number of ways, including Disaster Prevention DX, which involves installing IoT sensors to detect signs of landslides and fixed-point observation cameras to monitor tsunamis, and Tourism DX, which involves utilizing fixed-point observation cameras and AI image recognition technology for whale watching, and developing a travel app for visitors to Hachijojima.
Mizuho's strengths in local government DX
Sato: The digital solutions that Mizuho can offer are not limited to cashless and other financial solutions. Mizuho's strength lies in its ability to co-create a future society with new technologies through collaboration between the Digital Innovation Department, which specializes in digital technology, group companies such as Mizuho Research & Technologies, and external partners. We will continue to work together to make the Hachijojima Smart Island Project a model of innovation for other municipalities in Japan.
Human capital management
One of the most indispensable forms of capital for business is human capital. Even as the relationship between employers and employees shifts with the changing times and business environment, the need for companies to secure a sufficient number of qualified professionals is a constant. Under the revised Corporate Identity, we are aiming to continuously help our people—the source of our corporate value—to develop their skills and careers. With this goal, we have already begun moving towards a new HR framework in Japan, and we plan to transition fully in fiscal 2024. One of our main aspirations in designing the new framework was to ensure a harmony between the organization and individual employees, enabling collaborative creative input. Accordingly, we are calling the new framework "CANADE", a reference to the Japanese word for the beautiful harmony musicians create when they play together in concert.
The HR system under CANADE will be a unified platform covering five of our group companies,* previously unseen in either the financial or other industries. Employees will be able to transfer between companies based on business area, allowing for optimal allocation and rigorous development of personnel. In order to execute our strategies, we will continue disciplined optimization across the overall organization. Along with this, we will thoroughly implement strategic HR that allows each business area to take the lead on its own HR management, including in aligning compensation with promotion, roles, and results.
At the foundation of our HR under CANADE will be employees' narratives. We believe our people will be able to maximize their latent potential if they take their own individuality as a starting point towards building their own career paths. In addition, we will strive to improve support for them and give them a greater sense of purpose.
CANADE will further develop the talent that supports our business while also enabling each person to demonstrate their individuality and skills. In this way, it will be an integral part of our deep commitment to serving client needs, enabling our people to flourish, and helping to improve society and the communities where we do business. We will proactively innovate together with our colleagues to enhance our human capital and achieve a prosperous and sustainable future.
* Mizuho Financial Group, Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities, and Mizuho Research & Technologies.
The new Corporate Identity and CANADE
Structure for HR management
Important matters of HR management are deliberated by the business execution line and supervised by the Board of Directors. The Group CHRO is responsible for HR strategy and human capital policy, planning and facilitating HR management initiatives for the overall group. The Group Chief People Officer (Group CPO), a position established in May 2022, promotes talent and organizational development and diversity, equity, and inclusion as part of HR management. The Group CHRO and Group CPO work together to enhance our human capital.
Human capital KPIs
- Digital Transformation Skills Certification Lv. 4 (equivalent to Level 3 or above in the Skill Standards for IT Professionals of the Information Technology Promotion Agency, Japan; able to perform all assigned duties and lead
projects independently; program launched in FY2023). - Digital Transformation Skills Certification Lv. 2 (equivalent to Level 1 or above in the Skill Standards for IT Professionals of the Information Technology Promotion Agency, Japan; has the basic minimum knowledge required
to promote digital transformation; program launched in FY2023). - Certified Skilled Professionals of Financial Planning 1st-grade or Certified Financial Planners (international certification).
- In-house certified personnel (program launched in FY2023).
- In-house certified personnel able to support startups/innovative companies (program launched in FY2023).
- New international assignees from Japan.
- 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.
IT Strategy
IT systems are crucial elements of financial institutions' management and business strategies, and highquality IT strategies are key means of differentiating an institution from its competitors and establishing superior competitiveness.
Mizuho will aim for strong IT systems that are efficient and stable and will support its One MIZUHO Strategy. We will continue to develop IT systems that will also mobilize the group's comprehensive capabilities to establish superior competitiveness, meet customer needs, and give a solid response to progress in IT, tighter financial regulations, and other trends, while also providing global IT services in an integrated manner among banking, trust banking, and securities functions. To do this, we are taking initiatives in structural reforms of our systems and promoting group–wide data management and cyber security, as we also continue to strengthen IT governance.
Selected as Competitive IT Strategy Company 2017 (for the second consecutive year)
System Structural Reform
To respond to the needs of our customers and society as a whole, which are becoming increasingly sophisticated year by year, we are taking initiatives in making both system structural reform and IT operation process reforms to "make IT systems fast and inexpensive" and "keep it efficient." Responding to customer service and business needs, we are making structural improvements that include developing common systems and strategic rebuilding as well as sophistication of infrastructure using the Cloud, and developing the next–generation IT system as the compilation of these initiatives. In addition, we are drawing on the latest digital technologies and moving forward with IT business process reforms to improve productivity in development and enhance the efficiency of operations and administration.
Efforts to System Structural Reform
- Robotic Process Automation
- Application Programming Interface
Cyber Security
At Mizuho, to enable customers to make use of financial services feeling secured and contribute to stable operation and sustainable development of the financial infrastructure, we have positioned coping with cyberattacks as a top priority management issue. With Mizuho–CIRT1 taking the lead, we have assigned high–level professionals and are drawing on intelligence and cutting–edge technology developed in collaboration with external specialist organizations, while we are also taking initiatives to strengthen our strategic resilience capabilities. These include monitoring via integrated SOC2, analyzing computer viruses, developing multilayer defense systems, and other measures.
- Cyber Incident Response Team
- Security Operation Center
Declaration of Cybersecurity Management
Data Management
As data management for data collection and analysis to be used in management and business becomes more important to respond to global financial regulations and sophistication of MIS3, we have prepared a database to centralize management of collected and analyzed data relating to risks and profits, etc. In addition, with the aim of using big data for more sophisticated marketing, we are promoting the development of a data analysis platform that can process large volumes of data at high speeds.
- Management Information System
Transition to Next–generation IT Systems
Regarding the next–generation IT systems, the highest priority is placed on ensuring quality and safe launching. Preparation will be carefully conducted after checking the system quality as it is critical to ensure safe and steady transition. The system migration will be implemented gradually, after thorough rehearsals. In the next–generation IT systems, as a result of unification of Mizuho's current three core banking systems, we will downsize and streamline our IT systems. Also, developing independent components by business and function will enable flexible adaption to new services and shorten the lead time and reduce costs for new development. By structuring cutting–edge core banking systems, we will strengthen infrastructure for providing services to our customers and improve operations processing speed.
Next–Generation IT Systems Ahead of Other Banks
Unification of Core Banking Systems of former MHBK, former MHCB, and MHTB
- Downsize and streamline the IT systems
- Improve response to potential system failures
Independent components by business and function
- Improve flexibility through a simplified structure
- Enable flexible adaptation to new services
- Shorten the lead time and reduce costs for new development
Cutting–edge next–generation core banking systems
- Strengthen infrastructure for providing services
- Improve operations processing speed
Providing an environment where employees can reach their full potential
For employees to demonstrate their maximum value as personnel and enthusiastically play an active role, it is essential to have a supportive working environment. To that end, in addition to supporting the physical, mental, and social health of employees, we are further expanding our system enabling flexible working styles according to the circumstances of each employee regardless of time or place, and we are making various efforts to facilitate balancing of work, childcare, and nursing care.
Employee health and wellness in an age of longer lifespans
In order to promote operational efficiency and eliminate overwork, Mizuho is focusing on making materials paperless and has designated days where all employees are encouraged to leave the office on time. Also, from October 2022 we will stop the discretionary labor system for employees involved in operational planning and change to a working style that is more conscious of efficiency, thereby promoting a more supportive working environment.
With regard to initiatives related to improving mental health, we provide training for all employees to deepen their understanding of stress and encourage self–care, and hold training for managers to promote an awareness and understanding of the mental health of themselves and their employees.
In collaboration with the Dai–ichi Life Group, we have developed "Healstep", a next-generation health business promotion service. "QOLism", an app which is a part of this service, is capable of automatically linking with wearable devices, recording meals, and sending exercise videos, and also enables users to participate in walking events. The app is used by many employees as a support tool for adopting healthy lifestyle habits in a fun way.
Flexible working styles that suit each individual's lifestyle
Mizuho is working to improve the environments in which employees work. This includes allowing employees to work from home according to their individual work circumstances, and setting up satellite offices where employees can work without commuting to the office in an environment that is essentially equivalent to that of the office. With regard to working hours, we have introduced flextime work, staggered working hours, and 3– or 4–day work weeks that enable more flexible working styles. We are also promoting the use of paid leave, and employees are able to use paid leave in half–day increments up to 32 times per fiscal year.
Support for balancing life events and career
Mizuho has established systems exceeding legal requirements so that employees balancing childcare or aging family member care with their work can continue working, and we are developing measures for those who balance childcare and work with a focus on career development. For example, we hold periodic interviews between employees and managers before the employee returns to work, during their childcare leave, and after the return to work, and hold seminars by external lecturers on the topic of long–term career development for employees who have returned to work. Because an employee survey identified that there was high demand for a network of people who are balancing work with such life events, from fiscal 2021 we also launched "Work–Life Balance Radio", a 30–minute show during the lunch break that features talks with role models and answers to listener questions.
Promoting planned childcare leave for men is also improving productivity and working environments in the workplace as a whole, as well as contributing to the promotion of women's active participation in the workplace and to talent acquisition. In addition to conducting e–learning for all employees and "New Dad Seminars" for men, we are ensuring an environment in which it is easy for both men and women to take childcare leave by promoting understanding among not only applicable employees, but also their managers and employees around them.
Toward a Mizuho where employees and the company grow together
As the importance of human capital management increases year by year, the nature of the relationship between employees and the company is changing significantly to one of "choosing and being chosen". Accordingly, I feel that a people–centric marketing approach of listening to the voices of customers, and providing better experiences in order to continue being chosen by customers, is becoming important in the field of HR management as well. Anticipating this trend, Mizuho is focusing on valuing the narratives of its employees and is driving initiatives for employee-oriented HR management.
Employees and executive management are coming together on their own initiative and incorporating external knowledge to actively discuss on a daily basis how to create the future of Mizuho together. We are steadily fostering an inclusive corporate culture that respects all forms of diversity and connects employees with each other and the company with trust and respect. We will endeavor to continue to create and provide new value for customers and society by enabling all employees at offices around the world to be proud members of Mizuho and contribute in their own way.
I hope you will look forward to Mizuho's developments in the future.
Encouraging self–driven action and strengthening expertise to support the co–creation of value with clients and society
Our people are the greatest driving force behind Mizuho's continued provision of value. In order for each employee to play an active role to the fullest extent possible, they must have the autonomy to continue to challenge themselves and grow, and the expertise to create new value together with clients and society.
How do Mizuho employees become self–driven?
Employees aim to develop careers that enable them to utilize their own values, ways of thinking, strengths, and individuality. The company is responsible for valuing the narrative of each individual, supporting employees' career development, and raising their motivation for growth.
Joint pursuit of individuality by employees and the company
Employees can demonstrate their maximum potential when they take pride in their work and contribute in their own way. However, it can sometimes be difficult for people to see what their potential is. At Mizuho, each employee forms a career that is uniquely their own by ascertaining their own qualities and values through the three steps of "knowing oneself", "thinking about one's career together with the company", and "creating one's career together with the company".
Specifically, employees and the company (managers and HR) engage in dialogue to share goals to aim for and areas of expertise that should be enhanced. The company then provides appropriate feedback. This kind of communication happens at least once every three months.
Managers provide employees with the information they need to develop their careers and opportunities for growth according to their career stage. In addition, the Human Resources Group has specialized career advisors who provide advice according to each employee's situation and career orientation. We call this series of initiatives of getting to know oneself and building a career together "career development management".
Number of career design training sessions
HR management that expands one's growth and active areas
In Japan, for many years we conducted HR management based on job tracks, under which "generalist track" employees engaged in all kinds of work and "operations specialist track" employees mainly engaged in work in specific fields. This was abolished in fiscal 2021.
By eliminating the barrier of job track classifications, all employees can enhance their expertise and gain opportunities to play an active role based on their own abilities and pace of growth. As a result, employees are working more passionately than ever before to improve their own value through their work; for example, employees who were formerly classified under the operations specialist track have transferred to offices outside Japan at their own request and are expanding their areas of activity.
Various mechanisms to support employees who take on challenges
Mizuho actively supports employees who learn and take on challenges on their own.
The internal job posting system broadly recruits personnel within the group who have certain skills and experience, as well as personnel who are more passionate than anyone else about acquiring skills and experience. In order to enable employees to learn about job duties in areas with which they may not have contact on a daily basis and pursue new possibilities, we are providing introductions about the duties of each department and holding round–table discussions with employees who have utilized internal job postings. In fiscal 2021, approximately 1.5 times as many employees as in fiscal 2019 utilized internal job postings.
We also have a system in place to support employees who are taking on challenges in different areas while continuing their current work.
Under the internal/external concurrent assignment system, about 20% of employees' working hours are in positions at other departments within the group and, in some cases, at other companies. For employees, it is an opportunity to develop skills and abilities that cannot be acquired only through their primary duties, and to gain new awareness about their work duties.
The part-time work system, which allows employees to start their own businesses or run their own businesses outside of working hours, has been utilized approximately four times more compared to fiscal 2019. Also, employees who want to devote themselves to learning outside of work, e.g., attending schools such as graduate schools or external programs, have been taking advantage of the self-improvement leave system.
Number of career design training sessions
Number of uses of each system (cases)
The internal job posting system and utilizing the opportunities it presents, from an employee who used the system to expand their own possibilities
I used to work as an operations manager at a Mizuho Bank branch, and I now work in internal auditing, where I conduct ongoing monitoring and on-site audits of branch operations. The experience I gained during my time at the branch office has been very useful in my current job. I was worried about taking on the challenge of a new job in a new department, so it took a lot of courage, but there was a system in place to support me. After being selected for the job posting, I had opportunities to receive training and lectures. Since I have knowledge of the frontlines, I think about the reactions of frontline offices and customers as I conduct my daily work, looking to become a bridge connecting the frontlines and management.
Dialogue–oriented evaluation cycle to further increase motivation for growth
We are ceaselessly developing employees' motivation to grow by instituting periodic reviews between managers and employees about employees' goals, achievements, strengths, and challenges. As part of effectively going through the evaluation cycle from setting goals to performance review, feedback, and setting new goals, Mizuho places an emphasis on dialogue between managers and employees. Rather than focusing only on what employees were able to do, through periodic reviews managers and employees confirm the growth of employees' abilities and expertise, including what employees were unable to do. Mizuho then reflects this fairly in compensation, transfers, and promotions.
The role of managers is key for increasing the effectiveness of the evaluation cycle. We hold human resource management training aimed at improving the listening ability of managers, increasing the quality and quantity of dialogue, and cultivating the skills necessary to become a good coach.
How are Mizuho's employees enhancing expertise needed to drive business?
The development of digital technologies and the growing awareness of sustainability in society are creating new business domains for Mizuho.
Essential to advancing these businesses is to have personnel with a combination of expertise. Mizuho conducts strategic HR in line with the business strategies of each domain, such as securing, developing, and appointing personnel from a medium- to long-term perspective.
Developing employees to form a highly specialized group of professionals
Each business domain requires different types of expertise, and the development methods are not the same. We make visible the skills and experience that individuals should acquire and, through planned placement and training, develop personnel with expert knowledge in each domain. For example, in the digital domain, Mizuho Research & Technologies and Mizuho-DL Financial Technology are at the core of our efforts to strengthen our personnel. Furthermore, we are implementing personnel exchanges with leading companies in the digital field and have introduced an incentive program to enhance the digital literacy of all employees. Under our policy of aggressively allocating corporate resources to personnel development, we will increase the amount of funds dedicated to training by 1.5 times compared to fiscal 2021.
Total expenses for training held by the Human Resources Group (JPY 100 million)
Creating synergy between different domains
As part of this development, we are transferring employees to areas other than those in which they have mainly gained experience. This has led to employees discovering new possibilities for themselves and refining their expertise by taking a look at themselves from a different perspective. Additionally, the intermingling of expertise in different domains sparks "chemical reactions" and creates synergies that transcend business domains.
Specifically, personnel exchanges between IT system user departments and development departments are the cornerstone to realizing IT system development that balances system quality and the ability to respond to business needs. Synergies between customer divisions and consulting divisions additionally provide opportunities to create new financial products and services.
The internal job posting system and utilizing the opportunities it presents, from an employee who used the system to expand their own possibilities
I used to work as an operations manager at a Mizuho Bank branch, and I now work in internal auditing, where I conduct ongoing monitoring and on-site audits of branch operations. The experience I gained during my time at the branch office has been very useful in my current job. I was worried about taking on the challenge of a new job in a new department, so it took a lot of courage, but there was a system in place to support me. After being selected for the job posting, I had opportunities to receive training and lectures. Since I have knowledge of the frontlines, I think about the reactions of frontline offices and customers as I conduct my daily work, looking to become a bridge connecting the frontlines and management.
Mid-career hiring to expand expertise and diversity
We are actively recruiting mid-career candidates, including talent from other industries, in each business domain, beginning with the digital domain. Such people, by becoming new members of Mizuho, not only spread new knowledge and insight to the employees around them, but also have many positive effects on the diversification of values and perspectives, the fostering of a new corporate culture, and the development of new business.
Number of mid-career hires in the digital domain
Developing management leaders who will drive business and bring growth for the future
Securely retaining management leaders who bring together each business domain, anticipate the times, and realize growth for the future is a key topic for Mizuho.
In the development of management leaders, we select candidates for each business domain. Operating officers—which were newly established in fiscal 2021 and are positioned at one level below executive officers—assume greater responsibilities in their respective business domains and are working on challenging missions that they have set for themselves. In fiscal 2022, 37 new operating officers were appointed (including four women and five with non-Japanese nationality). These operating officers are gaining experience in business domains that are new to them and participating in management study sessions hosted by the Group CEO and an external management leadership development program in order to broaden their insights and enhance their perspectives. The target of these programs has been broadened to also include candidates for operating officer positions.
Becoming an even more inclusive organization where employees from diverse backgrounds can play an active role
The driving force for creating new value together with customers and society is to become an inclusive organization in which all Mizuho employees, who have diverse backgrounds, experiences, and values, can utilize their individuality as strengths and demonstrate their identity and abilities to the fullest. With the aim of enabling employees to contribute in their own way, we have set forth Mizuho's Commitment to Diversity & Inclusion.
How do we promote the active participation of diverse personnel?
We are developing an organization in which all executive officers and employees accept diverse viewpoints and values and respect one another. This will contribute to a virtuous cycle in which healthy and open discussions are held and then reflected in daily operations and decision-making, leading us to take on more proactive challenges.
Expanding business through the active participation of international personnel
Bringing together people who have grown up in different countries and cultures allows us to make new discoveries and gain new perspectives. As global business development moves forward, diversity in terms of different nationalities and races is becoming increasingly important, and we are focusing on the development of employees hired locally outside Japan. Specifically, we are implementing training through transfers between offices outside Japan and through trainee programs in Japan for future local management candidates. In response to travel restrictions due to the COVID–19 pandemic, we have also started a remote program. In addition, as an initiative to foster a global mindset, we held an event for employees featuring a dialogue between the Head of Banking Americas of Mizuho Americas and the Group Chief People Officer of Mizuho Financial Group.
Encouraging the further active participation of women through career support
The active participation of women, who account for about half of all employees, is indispensable for the sustainable development of the organization, and we are promoting organization-wide initiatives for this under the leadership of the Group CEO. In fiscal 2021, we set a new target for the percentage of women in general manager or equivalent positionswho are candidates for the next generation of management leaders. In order to respond to various issues according to women's career stages, we are also implementing initiatives to support each woman of a certain job level or higher. These initiatives include mentoring and other means in line with their career views and issues, and they form a unified effort between the employee's affiliated division and department and the Human Resources Group. Furthermore, in June 2021, we joined the 30% Club Japan.
Percentage of management positions filled by women (%)
Enjoying her work as herself, rather than "as a woman"
Under my own motto of "enjoying my job", I work with a particular attention to my personal brand and focus on the extra value that only I can provide. There have been many difficult times at work, but looking back, all of the experiences that have fueled my growth are the ones when I worked my hardest and gave it my all to see something through. Even when things don't go well, as long as I gave it my all I won't have any regrets, and it will be sure to help me grow into my future self. Since being appointed to a management position, I have been conscious not only of enjoying my own work, but also ensuring that the employees working under me enjoy theirs as well, and I am using this as something that contributes to value creation. I believe that everyone finding and demonstrating the added value that only they can provide will lead to the expression of their individuality and the active participation of all people.
Workplaces where all employees can play an active role in their own way, regardless of whether or not they have a disability
The entire group aims to have workplaces where everyone can work in a supportive environment, and is promoting appropriate considerations and the further development of such workplaces. In fiscal 2021, we worked to improve the structure of business processes that leverage the talents of people with disabilities and implemented initiatives to ensure stable business continuity even during the COVID-19 outbreak.
Employees with disabilities have taken the stage at special needs schools and seminars for university students, and actively communicate their thoughts and experiences both inside and outside the company, deepening mutual understanding among employees and building their own self-confidence. Through such initiatives, we aim to move forward as an organization that co-creates value, in which each and every employee, regardless of whether or not they have a disability, can sustainably play an active role while fully demonstrating their abilities and individuality.
The driving force to make Mizuho more than the sum of its parts
An inclusive workplace is a driving force that exerts power beyond the sum of each employee's individual potential, and has a significant effect on self-directed and self-driven initiatives by employees. By actively engaging in effective communication that transcends the organization and roles, we can reaffirm the value of one another's existence, and the chance encounters that arise as a result become the impetus for innovation.
Vertical, horizontal, and diagonal networking
Employee Resource Groups (ERG), which are voluntary activity groups comprised of employees from different areas of the organization and of varying ages, aim to contribute to the growth of members and the organization by creating connections around specific topics.
Mizuho Diversity & Inclusion Month, which is held every November, is a project that employees proactively plan, operate, and participate in. By enabling employees to hold discussions and disseminate information while learning, it has become a platform for broadening connections with others and experiencing a diverse range of ideas and values.
Examples of Mizuho ERGs
Aiming to revitalize the organization, provide value to society, empower early career employees, and create bottom–up initiatives.
Aiming for the further active participation of women working at Mizuho in the workplace and in society through mutual development and support.
M–WIN
Aiming for the further active participation of women working at Mizuho in the workplace and in society through mutual development and support.
We have established an "alumni network" to connect former employees of Mizuho who are active in various fields. We also hold events where these alumni and current employees can interact and engage in dialogue regarding their perspectives on careers and working styles. In addition to building open, flat connections that transcend company boundaries, it is an opportunity to reaffirm Mizuho's strengths with views from the outside.
Enjoying her work as herself, rather than "as a woman"
Under my own motto of "enjoying my job", I work with a particular attention to my personal brand and focus on the extra value that only I can provide. There have been many difficult times at work, but looking back, all of the experiences that have fueled my growth are the ones when I worked my hardest and gave it my all to see something through. Even when things don't go well, as long as I gave it my all I won't have any regrets, and it will be sure to help me grow into my future self. Since being appointed to a management position, I have been conscious not only of enjoying my own work, but also ensuring that the employees working under me enjoy theirs as well, and I am using this as something that contributes to value creation. I believe that everyone finding and demonstrating the added value that only they can provide will lead to the expression of their individuality and the active participation of all people.
Initiatives to create together with employees
With the aim of reforming the corporate culture, we have established employee-led working groups. These groups serve as a means for the company to work with employees on identifying issues related to the corporate culture. The groups have been continuously holding discussions between employees—and occasionally executive officers as well—regarding specific responses to such issues and how to effect reforms that are more evident to employees.
Going forward, HR management will also be jointly designed by employees and the company. We have been conducting a lively exchange of opinions with employees (co-creators), who participated voluntarily, about the state of HR management and how to communicate information throughout the company.
Flat connections between executive management and employees
Since February 2022, we have been holding round-table discussions in which the Group CEO and about 10 employees exchange their views through "flat" dialogue, without specifying a topic.
Note: For details of the initiatives, please refer to "Progress of the Business Improvement Plan"
In addition, we are working to strengthen communication by holding town hall meetings between executive officers and employees, small group sessions where participants have "flat" conversations, and dialogues between Head Office and the frontlines in various forms. For example, we held an off-site meeting for general managers based on the staff survey, and panel discussions on HR management. We will become an open organization by deepening dialogue between executive management and employees and between Head Office and the frontlines, and by understanding each other's perspectives and ideas.
Due to the IT system failures, scores for the company and executive management fell in the staff survey. With strong conviction based on a deep reflection on these events, going forward we will aim to be an organization with a sense of unity in which all executive officers and employees can act on their initiative and engage in constructive discussions.
Staff survey
Leading Financial Innovation
Through making use of cutting–edge technology and collaborating with external organizations, Mizuho is endeavoring to provide highly convenient services for its customers more so than before
Approach to Financial Innovation
Financial Environment
In recent years, a worldwide trend toward offering innovative financial services has emerged, and it has been referred to as "Fintech." Fintech includes such technologies as big data, artificial intelligence (AI), and blockchain, and it is looked to as the harbinger of new financial services. Along with this trend, in Japan also, the Banking Act has been revised to enable financial institutions to collaborate with venture businesses that are expected to develop new financial services to promote open innovation. In this connection, the so–called "5％ rule," which, under the Banking Act, limited voting ownership in other companies by financial institutions to 5％ has been relaxed for enabling investment into finance–related IT companies (Fintech companies).
Directions for Mizuho's Initiatives
Mizuho, as a megabank, has built up, on the one hand, a customer base and an information base, while also developing strengths in the form of financial knowledge and technology. On the other hand, Mizuho's business position has not always been strong in terms of innovative creation, advanced technology, and assessment of future business potential. In today's business environment, by collaborating with large vendors that have these strengths and Fintech companies, Mizuho is looking to create new businesses and provide highly convenient services for our customers more so than before, as to establish an advanced brand image as a financial institution.
Promotion Structure
To attain these goals, Mizuho established its Incubation Project Team, an independent and specialized team in July 2015 to strengthen new business creation and initiatives across the group. In addition, beginning in April 2017, to reinforce the creation of new businesses and realize greater efficiency and sophistication in existing businesses, we established the position of CDIO*, who is in charge with the mission of driving digital innovation. Accompanying the appointment of a CDIO, we also realigned our Incubation Project Team to form the Digital Innovation Department to enhance the structures for promoting digital innovation.
* Chief Digital Innovation Officer
Fiscal 2016 Results
In fiscal 2016 also, Mizuho continued to actively pursue collaborative businesses with other companies to provide new services through open innovation.
Big Data and AI–based Fintech Lending Services
In November 2016, Mizuho and Softbank set up a joint company, named J.Score, to provide big data and AI–based Fintech personal lending services, and this company has already begun activities to build its brand image. Beginning in September 2017, it is scheduled to provide the first score–based lending services via smartphones in Japan, and it will continue to gradually raise the level of its services.\
Establishment of Fintech Laboratory Facilities
In October 2016, the first laboratory facilities1 were established for structuring a Fintech Ecosystem2 and to improve customer services. With the establishment of this facility, it will be possible to combine the technologies and knowledge of the Fintech companies with Mizuho's knowledge of financial services to facilitate open innovation and provide speedy technical verifications.
- Innovation lab set up within the FinTech Center of Tokyo Finolab, which is jointly operated by Mitsubishi Estate, Dentsu, and Information Services International–Dentsu.
- An industrial ecosystem created through the multi–faceted, continuous, interrelated connections between Fintech companies, financial institutions, businesses, investors, regulatory authorities, and specialists such as lawyers and accountants.
Verification of Services Utilizing Blockchain Technology
Mizuho is promoting the use of blockchain technology for financial services by working toward the start–up of the first verification project led by Japanese companies that will make use of this technology for global international remittances and international securities settlement services.
New Payments Services
In October 2016, Mizuho began collaboration with Metaps and WiL, with the aim of joint business development. The goals of this collaboration is to utilize the customer bases and knowledge on financial services of the MHFG and MHBK to create and offer new financial settlement services.
Offering Services Using Robotics
Mizuho has installed humanoid robots programmed with AI in its branches to provide functions that include analyzing customers' insurance coverage and providing support for opening customer accounts. In addition, to provide completely new services that have not existed before, Mizuho is giving consideration to using the knowledge and know–how that it has accumulated from these initiatives in other channels other than robots, including mobile devices and ATMs.
Our Measures Going Forward
Since establishing its Incubation Project Team, Mizuho has conducted surveys and research, principally in key component technologies such as big data, AI, and blockchain from the medium– to long–term perspective, and accumulated knowledge and know–how. Beginning in fiscal 2017, Mizuho has gone beyond just accumulating this technology and knowhow and is endeavoring to provide customers with even better services through creating new businesses as well as improving the efficiency and sophistication of existing businesses.
Specifically, since 2016, Mizuho has been taking initiatives to release new services, such as new lending schemes and settlement methods as well as gone to commercialize blockchain technology for use in the trade finance field.
Moreover, Mizuho's activities in this field have not been limited to finance, but also have included the establishment of new companies with WiL and other new venture investment companies based in Silicon Valley. After having established these new companies, Mizuho will be also engaged in creating next–generation business models and actual commercialization of related businesses through the broad use of IoT.
