Our strategies for creating value

Employee engagement

Implementing our new HR strategy

As society and our customers’ needs undergo major changes, in order to forge new partnerships with our customers we will need
to enhance the expertise and skills of our personnel. Additionally, in Japan, workers’ perspectives are shifting away from the idea
of belonging to a company with the assumption of lifetime employment, to the idea of belonging to a profession, which assumes a
lifelong active role in one’s field, and the focus is on increasing one’s individual value.

Our new HR strategy responds to these changes in customer needs and employee perspectives, and aims to maximize employees’
universally recognizable value while focusing on honing their expertise. By creating organic opportunities for learning, taking on
new challenges, and gaining experience through work, this strategy will form a mutually beneficial relationship between
employees and the company where the growth of one leads to the growth of the other.

Overview of the new HR strategy

Changes in external environment Changes in the attitudes and perspectives of workers

Declining birthrate Belong to a company Belong to a profession

and aging population Digitalization Globalization Emphasize universally
Mandatory retirement Age of longevity / Lifelong
recognizable expertise active role in one’s field
Changes in customer needs Focus on success at
(Must provide value beyond the realm of finance alone) one’s company Focus on growth

New HR strategy
Shift from a model where the source of competition is limited to within the company to a model prioritizing employees’ professional growth and career preferences,
providing opportunities for learning and taking on new challenges with a strong focus on maximizing employees’ universally recognizable value.

Talent development focused on expertise

Learning Learning Upgrading our talent development platform

Challenge Opportunities to take on varied challenges inside and

outside Mizuho
Growth Cycle of growth through learning,
taking on challenges, and work Challenge
Work Frameworks supporting flexible career development
+
Work A work environment that enhances employee engagement

Form a mutually beneficial relationship between employees and the company where the growth of one leads to the growth of the other
– Create a virtuous cycle that enhances employee engagement and motivation and promotes development of the company

Talent development focused on expertise

Learning: Upgrading our talent development platform

Previously, we provided training and educational content according to employer-determined
groups based on seniority and other employee categories. Under the new HR strategy, in order
to strengthen employees’ expertise and skills through highly effective development, our new
framework will provide personalized content based on each individual’s needs and career
aspirations.

As one part of this, in addition to addressing learning needs across a wide range of subjects, in
order to support employees who are proactive in taking on new challenges, we have rolled out a
new digital learning platform, M-Nexus, for our entire group. This new platform allows
employees to study without restrictions on time or place, and enables us to utilize a broad range
of the latest content from external sources, including content on digital technologies. We will
also utilize AI to provide each individual with personalized recommendations for content that is
related to their interests.

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 Our strategies for creating value Employee engagement

Next, in addition to utilizing this platform as a one-stop source for learning as well as information
on internal job opportunities, we plan to expand functionality to utilize it as a foundation for
creating an employee community and facilitating communication between employees.

Challenge: Opportunities to take on new challenges inside and outside Mizuho

We are confident that an effective way to increase employees’ ambition and universally recognizable
value is to provide more opportunities for employees to work in different fields and in different
locations throughout Mizuho’s global business, taking on new challenges in order to achieve the
career they envision for themselves. In order to achieve this, in addition to expanding internal job No. of applicants for internal job postings
postings at Head Office targeting talent currently assigned to branch operations, we are also
strengthening our support framework including training for ambitious employees interested in trying 820

new types of work and contributing in a leading role at Mizuho in the future. The number of internal
522
job applicants has increased by over 50% as a result of these initiatives. 496

We have also launched a concurrent assignment program which provides opportunities for
employees to be involved in other roles or projects they are interested in while maintaining their
primary duties, and in fiscal 2019, the first fiscal year of this program, we received applications from FY2017 FY2018 FY2019
over 120 employees.
 xample of concurrent assignment
E
Additionally, we are creating a framework to enable employees to take on new challenges outside of outside Mizuho
Mizuho, and have added job postings for secondment opportunities at external companies including
start-up firms. Also, in addition to adopting the concurrent assignment program via which employees 2 days/wk External
(secondment) company
work some days at Mizuho and other days at another company, we have newly added a part-time
work program for employees to operate their own businesses outside of work hours, and so far 3 days/wk
around 120 employees are utilizing these new arrangements.
Gain diverse perspectives and
external insight

Work: Frameworks supporting flexible career development

New job track for expanded scope of involvement
Under the new HR strategy which emphasizes employee expertise, we will merge the existing job Generalist Generalist Operations
tracks to enable employees to be involved in a broader scope of work regardless of their job track track specialist track
(rotational) (non-rotational)
Current

track, thus laying the foundations that will enable flexible career development (job tracks will be Retail Retail
operations, operations,
combined in fiscal 2021). This new, unified job track will focus more on the expertise that each All types of corporate corporate
work operations, etc operations
employee exercises in their position rather than the improvement in their general work
capabilities, and employee development, evaluations, and compensation will be conducted Merge all job tracks
within this framework.
After merging

New “Generalist track”

An evaluation system that encourages employees to gain expertise Broader work opportunities

Focus on building expertise that will

This new evaluation system outlines the specific types of expertise and skills needed for each translate into business results

business field, which are key for talent management, and under the new job track framework we
will expand opportunities to engage in a wide range of activities and gain expertise at an early
stage.

Especially regarding personnel evaluations, which will be key for maximizing the value of each
employee, we will strengthen and disseminate development-focused HR initiatives that consider
evaluations not as assessments but as opportunities for growth.

For example, we will increase opportunities for communication between managers and
employees in the course of the evaluation process, and in addition to providing thorough
feedback on issues hindering growth and the employee’s actions, we will focus on enhancing
training to improve managers’ skills as evaluators.

By shifting to a flexible compensation model that is more focused on job duties, placing an
emphasis on each individual’s current performance and expertise rather than seniority or years
of experience, we will draw out employees’ motivation and ambition and encourage proactivity.

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 Our strategies for creating value

A work environment that enhances employee engagement

Achieving a more flexible working style

We are accelerating initiatives on flexible working styles as we look ahead to a post-COVID-19
Mizuho received 5 stars on the Nikkei
Smart Work Survey society and give consideration to increasing employee interest.

In addition to making preparations for remote working arrangements and expanding the
utilization of staggered working hours and flextime, we will raise productivity by adopting
working styles and management frameworks which assume such arrangements will be standard.

We are also aiming to create a work environment that encourages healthy and efficient working
Mizuho received the Nikkei Smart styles by focusing on eliminating overwork. Going forward we will continue to promote tailored
Work Award in the Innovation labor management practices in partnership with industrial physicians.
category

Diversity and inclusion

We aim to proactively incorporate the perspectives and ideas of our diverse workforce into our
everyday work, strategic planning, and decision-making in order to create new value. We are
committed to valuing the voices of women, non-Japanese nationals, individuals with disabilities,
individuals who identify as LGBT, and other diverse groups.

By integrating diversity and inclusion (D&I) into every aspect of our HR strategy, we are
Mizuho received Platinum Kurumin
increasing our efforts to fully engage our diverse workforce, promote diverse and flexible
certification in recognition of our working styles, and transform the mindsets and behaviors of all employees and executive
significant efforts to implement and officers. (Refer to page 56 for D&I related KPI.)
maintain systems that assist workers
in balancing work and childcare. We are promoting career development and advancement for women in particular by offering a
strategic development program. One of our key objectives is to develop more female candidates
for senior leadership roles (general manager equivalent positions and above) and so, in addition
to utilizing external coaching to create and review individual action plans, we are strengthening
career development support through assignments and promotions.

In order to ensure that women can continue to develop their careers throughout different life
events, we offer programs to support working parents and caregivers, remote work options, and
In recognition of our efforts to promote other support systems that enable diverse and flexible work arrangements. Additionally, we are
women’s empowerment in the working to change mindsets throughout the organization via a range of initiatives, including
workplace, Mizuho received Nadeshiko encouraging 100% of applicable men to take childcare leave.
Brand designation for 2020, conferred
jointly by the Tokyo Stock Exchange and Strategic development programs for female employees
Japan’s Ministry of Economy,
Trade and Industry. Cultivate an executive
General manager Strategic assignments
management perspective in future
equivalent Coaching M-WIN
executive leader candidates
(Employee resource group)
Aim to accelerate professional
Manager growth by transforming  areer development support
C A network for women
equivalent participants’ mindsets regarding seminars
working at Mizuho
their careers

Supervisor  R management tailored to the

H
While cultivating their career
equivalent individual (including transforming Network expansion
perspective, enhance each
management mindsets) Access to role models
(under Supervisor individual’s strengths through
Meetings with female career
Mizuho received the top rating of “Gold” equivalent) evaluations and assignments
advisors
on the PRIDE Index which evaluates
LGBT-related initiatives. Company-led initiatives Employee-led initiatives

Promoting employee resource groups (ERGs)

Mizuho supports ERGs as employee-led platforms for mutual learning. When employees from
different areas in the organization and varying national backgrounds come together to proactively
learn from one another, this not only stimulates their growth, but contributes to the creation of
bonds across company lines, creating a corporate culture that facilitates new business ideas and
discoveries.

Fiscal 2019 saw the creation of three new employee resource groups in Japan, focused
respectively on public speaking in English, understanding disabilities, and utilizing coaching,
ERG event (Speech by former Chairman bringing the total number of employees involved in ERGs to about 4,000 globally.
of the Board of Directors Hiroko Ota)

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 Our strategies for creating value Employee engagement

Mizuho Diversity & Inclusion Month

Exposure to a wide variety of ideas, holdings discussions and communicating, and broadening
connections with others is transformative for the mindsets and behavior of Mizuho employees.
In order to promote D&I’s aim of drawing on the diversity of our workforce to create new
corporate value, we hosted an interactive project called Mizuho Diversity & Inclusion Month,
which was held on a group-wide and global basis.

Fiscal 2019 was the first year for this event, which began with a discussion session with the
Group CEO and also featured speeches, ERG events, and more for a total of over 40 events
around the world over the course of one month. Approximately 7,000 employees participated CEO Session
in total. (Online video feed in Japan)

We will host Mizuho Diversity & Inclusion Month on a continued basis to transform employee
mindsets and behaviors, thus encouraging the creation of new corporate value on a broad scale
across the group.

Promoting employee health and wellness

In our response to the COVID-19 pandemic, we are prioritizing the health and safety of
customers and employees, and in addition to basic measures such as wearing face masks and
promoting hand washing, we have also encouraged employees to work remotely and conduct
meetings online, and made consultations available for employees.

Through these and other initiatives promoting employees’ physical and mental health as well
as their health literacy, we are aiming to enhance the performance of each individual and Mizuho was selected under the 2020
increase the productivity of the organization as a whole.
Health & Productivity Stock Selection,
which is jointly administered by
Mizuho was recognized under the 2020 Health & Productivity Stock Selection for a number of
initiatives, including those aimed at preventing overwork, such as encouraging the use of paid the Ministry of Economy, Trade
leave, as well as efforts to prevent increases in the severity of health conditions through and Industry and the Tokyo Stock
measures such as requiring employees to receive subsequent testing in the event of Exchange.
irregularities in their annual health exam. We were also recognized for the way in which we
pursue these goals through an integrated framework enabling collaboration between the
company, health insurance providers, and occupational health services providers.

Our HR strategy

The core of the new HR strategy launched last fiscal year under our 5-Year Business Plan is to cultivate the universally
recognizable value of employees by encouraging them to take independent action and take on challenges.

To this end, we are working to expand opportunities for learning and taking on challenges so that each employee can
design their own career, hone their expertise through learning, and experience growth by taking on challenges. As we
work to expand such opportunities, an increasing number of employees are taking specific action with many utilizing new
frameworks such as internal job postings, concurrent assignments, and external part-time work, and we are now feeling
the impact of these initiatives as they begin producing results.

We will continue building the HR foundations needed to develop talent for the transition to the
next generation of financial services including the creation of frameworks for flexible career
development.

Furthermore, we will utilize the ideas and experience of employees from diverse backgrounds
to further stimulate Mizuho’s growth, and continue promoting D&I initiatives such as the
newly established Mizuho Diversity & Inclusion Month. And, in addition to responding to
the COVID-19 pandemic, as physical and mental wellbeing are essential for each individual
employee to be fully engaged at work, we will continue strengthening employee health
management and other such initiatives aiming to ensure Mizuho’s sustainable growth. Hiroaki Ehara
Group Chief Human Resources Officer

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