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Message from the President & Group CEO of Mizuho Financial Group

Medium–term business plan

Progressive Development of "One Mizuho"─The Path to a Financial Services Consulting Group

Yasuhiro Sato

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

In FY2016, we launched our medium–term business plan, Progressive Development of "One Mizuho"─The Path to a Financial Services Consulting Group, to guide our endeavors over the next three years. We aim to further develop our One Mizuho strategy, thoroughly align ourselves with our customers' needs, and be their best financial solutions partner by achieving the goals of this plan.

In FY2016, the first fiscal year of the plan, we introduced an "in–house company system" aligned to customer segments as a means of furthering our aim to become more client–focused. We also strengthened our One Mizuho strategy of intra–group collaboration through other initiatives such as consolidating the group's asset management functions in the newly established company, Asset Management One, and enhancing our "think tank" functions.

FY2016 financial results show favorable progress in the first year of the medium–term business plan

Despite the challenging business environment in FY2016, including negative interest rates and increasing uncertainty in the financial markets, under our newly–implemented in–house company system we achieved steady growth of solutions business income for the customer divisions, and generated gains by the sale of cross–shareholdings and extraordinary income through the establishment of Asset Management One. As a result, Profit Attributable to Owners of Parent in FY2016 amounted to JPY 603.5 billion, exceeding our projection of JPY 600 billion.

We were also able to maintain a sound Common Equity Tier 1 Capital Ratio on a fully–effective basis (excluding Net Unrealized Gains on Other Securities) of 9.27%. Going forward, we will continue our efforts to build a stable profit structure and robust financial base.

Accelerating the One Mizuho strategy in FY2017

The business environment surrounding financial institutions is undergoing major changes. Nonetheless, we are determined to fulfill our responsibility to society, with an awareness of the unchanging value we provide as a financial institution. To that end, in FY2017 we are focusing our attention on accelerating the One Mizuho strategy, further optimizing the in–house company system, reallocating management resources to focus on core competencies, and establishing a stronger financial position.

In addition, we are taking steps to make operational processes more efficient and sophisticated and to develop new business through the commercial application of innovative digital technologies. We will also double down on efforts to provide products and services that are in our customers’ best interests. Through these initiatives, we will solidify a path toward achieving our goal of becoming a top financial services group.

At Mizuho, we are united in our resolve to exemplify our brand slogan, "One Mizuho─Building the future with you", and all entities within the Mizuho group will work together to further enhance our corporate value.

We appreciate your continued support and will make every effort to not only meet, but exceed, your expectations.

July 2017

File:Autograph–Yasuhiro Sato

Yasuhiro Sato

President & Group CEO
Member of the Board of Directors
Mizuho Financial Group

Biography

Yasuhiro Sato

Yasuhiro Sato

President and Group CEO
Member of the Board of Directors
Mizuho Financial Group, Inc.

Yasuhiro Sato has been President and Group Chief Executive Officer of Mizuho Financial Group since June 2011 and a Director since June 2009.

From April 2009 to March 2014, he was President and Chief Executive Officer of Mizuho Corporate Bank, which merged with Mizuho Bank in July 2013. From April 2007 to March 2009, he was Deputy President of Mizuho Corporate Bank.

Prior to becoming Deputy President, Mr. Sato served as Managing Director and Head of the Corporate Banking Unit and earlier positions included Senior Corporate Officer in the International Banking Unit.

Mr. Sato joined the Industrial Bank of Japan (IBJ) in 1976. The IBJ merged with Dai-Ichi Kangyo Bank and Fuji Bank to create Mizuho Financial Group in 2000. With Mr. Sato's wide network and extensive experience in international business, including a period based in New York, he has been a pivotal leader in terms of Mizuho's global strategies and expansion.

He has served two terms as Chairman of the Japanese Bankers Association (April 2012 to March 2013 and April 2015 to March 2016), providing leadership to a financial industry facing unprecedented challenges. From January to October 2013, Mr. Sato was a member of the Abe Cabinet's Industrial Competitiveness Council, where he was involved in developing the Japan Revitalization Strategy as part of the third arrow of Abenomics.

Mr. Sato graduated from the University of Tokyo in 1976 with a major in Economics.

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