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July 10, 2017

Mizuho Financial Group, Inc.
Mizuho Bank, Ltd.
WiL LLC.

[FinTech] Mizuho Financial Group and WiL Establish Joint Venture Focused on New Business Creation

Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara), a core subsidiary of Mizuho Financial Group, Inc. (President & Group CEO: Yasuhiro Sato), and WiL LLC. (CEO: Gen Isayama, referred to along with its subsidiaries as "WiL Group" below) are pleased to announce the establishment of Blue Lab, Co., Ltd. (President, CEO, & Representative Director: Daisuke Yamada) for the purpose of creating new business.

Blue Lab aims to drive business generation through innovative technological advances, including those being made by shareholders who have contributed to the establishment of the company (listed below) in their own fields.

More specifically, Blue Lab is focused on the creation and commercialization of next–generation business models through FinTech initiatives such as the creation of a global settlement platform, development of software to automate operational tasks using AI and big data, and optimization of supply chain management and trade finance through commercialization of blockchain technology, as well as through IoT–related advancements within the shareholders' respective industries and in general.

Mizuho is committed to pursuing the incorporation of new, innovative technologies into our business in order to provide customers with consistently better services.

Overview of Blue Lab
Trade Name Blue Lab Co., Ltd. (Japanese: 株式会社Blue Lab)
Capital 10 million yen (including capital reserves of 5 million yen)
Head Office Location 2–5–1 Atago, Minato–ku, Tokyo
Name of Representative President, CEO, & Representative Director Daisuke Yamada
Composition of Shareholders WiL Group*: 100% (as of July 10)
  • *WiL Group provided 100% of the initial capital for the establishment of Blue Lab. Going forward, WiL Group plans to transfer a portion of their shares to Mizuho Bank, Ltd.; Itochu Corporation; Sompo Japan Nipponkoa Insurance Inc.; The Dai–ichi Life Insurance Company, Limited; The Norinchukin Bank; Marubeni Corporation; and Sumitomo Mitsui Trust Bank, Limited.
    (Target for share transfer: Mid–July, 2017)
Organizational Structure Company with board of directors
Date Established June 30, 2017
Start of Operations Scheduled for August 2017