Mizuho defined fiscal 2004 as a year of proving the true value of Mizuho, and to this end the bank has focused its energy and resources to further strengthen its financial position and to make major advances in profitability.
“As a result, we have achieved successful results such as overcoming the NPL problem, repayment of more than half of public funds and acceleration of cost cutting efforts,” says CEO Terunobu Maeda. “Furthermore, we have successfully completed the integration of the IT systems of our retail-banking unit, which had been one of our top management priorities. The results of these efforts in fiscal 2004 have led our management focus to move on to a future-minded and customer-orientated phase that will seek to gain the support of customers.
“In order to give concrete shape to the shift of management focus, we announced our new business strategy in April, the Channel to Discovery plan, with the objective of making Mizuho a world-leading financial group. Through the steady implementation of our strategic measures, we are fully committed to strengthening our competitiveness and profitability as well as increasing our corporate value.”
