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CorporateProfileMizuho Securities
Carrying out a central role as a securities company under the One Mizuho umbrella
In fulfilling our unique role as a comprehensive securities company, Mizuho Securities pursues a Mizuho Financial Group strategy which brings together banking, trust banking, and securities under the united One Mizuho umbrella. We have strived to become our clients’ first choice as a securities company offering a comprehensive lineup. Since then, we have continued to grow as a securities company supported by a global client base, stable financial standing, and solid corporate functions enabling us to offer you the widest range of consulting capabilities in tandem with sophisticated products.
Addressing diverse needs is our forte
Mizuho Securities is dedicated to serving as your one-stop shop for comprehensive financial services through our branch network (the industry’s most extensive retail network across Japan) and via the establishment of joint branches with other Mizuho group companies, such as “Planet Booths” which we have set up in Mizuho Bank lobbies, enabling bank customers to easily access the full spectrum of our securities services.
If you are an individual client, you have all the advantages of our diverse lineup of financial products and exceptionally-insightful investment information to serve your needs whenever and wherever thanks to our popular online and call center services in addition to our nationwide branch network. You can be sure that we will
Always aiming to be our clients’ most–trusted partner and their first choice among securities companies
always act in your best interests, underpinned by an action plan designed specifically to ensure prudent execution of our fiduciary duty. We also undertake various initiatives to offer you sophisticated solutions customized to your needs.
If you are a corporate client, we make sure you have access to our wide-ranging investment banking solutions such as equity and bond underwriting, M&A advisory services, structured finance, and stock listing support. We have the architecture needed to support your company’s business strategy backed by our strong track record and incomparable professional knowhow. In addition, we provide asset management products and investment information tailored to your company’s investment strategy needs via bases across Europe, the Americas, and Asia unified as one to serve you.
Our aim: Creating value together with you
We play a unique role as the only comprehensive securities company in Japan, enabling Mizuho group to realize its aim as a financial services consulting group. Furthermore, in the midst of drastic changes impacting the financial services industry worldwide, we are dedicated to fully leveraging Mizuho’s resources to both fulfill our societal mission as a securities company and serve as your most-trusted partner in creating value.
I sincerely ask for your continued support as we pursue these goals.
September 2018
President & CEO
Message from the President & CEO
Mizuho Securities Co., Ltd. 1
Asset management
Clients
Mizuho Securities
Equities, bonds,investment trusts,
fund wrap,NISA accounts,
providing investment information
Real estate
Guidance on real estate matters
Capital policy, corporate strategy, and financial strategy
Arrangement of IPOs, fundraising assistance, and advisory services
Mizuho Bank
Ordinary deposits, time deposits,
foreign currency-
denominated deposits, etc.
Mizuho Trust & Banking
Deposits, money trusts, etc.
Asset Management One
Asset management services, etc.
Mizuho Trust & Banking
Testamentary services, educational fund
giving trusts, etc.
Mizuho Trust & Banking
Real estate brokerage services,
guidance on the effective use of
real estate, etc.
Mizuho Trust Realty
Real estate brokerage services,
etc.
Mizuho Research Institute
Research, business consulting,
etc.
Mizuho Trust & Banking
Securities transfer agent operations,
marketable securities trusts,
etc.
Mizuho Bank
Lending operations, assistance in entering
overseas markets, advisory services,
etc.
Asset succession
Guidance on inheritance/gift matters,guidance on asset/business succession,
proposal on business insurance
Integrated group-wide services for our clients
Timely and effective responses to our clients’ diverse financial needsIn continuing to carry out our One Mizuho aim to serve as the only comprehensive securities company able to offer all the advantages of a united financial group, Mizuho Securities is constantly striving to promote integrated group management of banking, trust, and securities functions. We offer a wide range of services such as asset management and succession through equities and investment trusts, further enhanced by working closely with all companies across the group to meet the diverse financial needs of clients as quickly and accurately as possible.
· When referring clients to affiliated companies that provide the services above, we may request clients to provide written consent to share their information with providers of said services.
· There may be cases where said affiliated company is unable to provide the services the client requires.
· The client may be liable for fees determined by the service provider in relation to services provided by Mizuho Securities or by the affiliated company referred by Mizuho Securities. In using said services, the client may experience losses due to price fluctuations and other factors, which in some cases (such as derivatives transactions) may exceed the capital invested by the client.
· Service details and key considerations for each may differ, and as such it is essential that clients carefully read contracts (and any documents explaining said services) before signing any contracts. It is important for clients to understand that the decision regarding whether to utilize services (conclude contracts) is theirs alone.
2 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 3
No. 2 No.1
Banking-Trust-Securities integrated operations
Planet Booths
Located in the lobbies of Mizuho Bank branches, these joint branches with Mizuho Bank enable clients to access a full line of securities services.
Under the slogan “One Mizuho,” we will further accelerate integrated efforts involving all Mizuho group entities thus enabling us to offer banking, trust, and securities services which resonate with the needs of our clients.
Equity Analyst Ranking
Survey on Most Popular Bond/Forex Analyst/Economist
M&A Advisory Business
Bond Underwriting Business
Structured Finance Business
Domestic Networkas of June 30, 2018
Seminars
262 offices 1,500 seminars
Over
Including 37 joint branches providing banking, trust banking, and securities services jointly
Including 2 joint branches providing trust banking and securities services jointly
262 offices
Industry-leading
Drawing on our industry-leading retail network of 262 offices across Japan, we have the capacity to deliver services finely tuned to client needs.
Details on p. 22
2nd consecutive
year
Amount
Amount
Deals
Mizuho Financial Group, Inc.
Banking Trust banking Securities
Mizuho Bank, Ltd. Mizuho Trust & Banking Co., Ltd.
Mizuho Securities Co., Ltd.
Trusts
Securities
Branches, sub-branches,
and Trust Lounges
Head Office, branches, sales offices,
and Planet BoothsBanking
Branches and sub-branches
Other core group companies
A leading presence in financial markets
Taking One Mizuho to a new stage
As a comprehensive securities company Mizuho Securities strives to promote the seamless integration of our group’s banking, trust, and securities arms under the One Mizuho strategy.
These efforts have enabled us to expand our retail network to 262 offices* across Japan and thus gain a leading position in the domestic industry and we haven’t looked back. We continue to establish joint branches with Mizuho Bank, including additional Planet Booths established inside the lobbies of Mizuho Bank branches around the country. In this way, we can deliver a comprehensive selection of Mizuho financial services at a single location.
Under the slogan “One Mizuho,” Mizuho brings together multiple financial functions in terms of banking, trust, and securities solutions to consistently meet the diverse needs of clients.
To further enhance collaboration under the One Mizuho commitment, group companies are accelerating collective efforts to effectively leverage group-wide capabilities.
We also have a solid track record of excellence in investment banking, including bond and equity underwriting and M&A advisory-services which constantly receive impressive evaluations from clients.
As a securities company, Mizuho Securities is ranked No. 2 and many of our analysts are ranked No.1 by industry according to equity analyst rankings conducted by some of the most prominent financial periodicals, receiving high praise from institutional investors as well.
*As of June 30, 2018
All figures for the number of offices are as of June 30, 2018.
Joint branches
Including 146 joint branches providing banking and securities services jointly
Mizuho Securities - What sets us apart
p. 7
Details on p. 6
p. 7
Details on p. 6, 12 p. 7, 12
No. 2
No. 2
No.1
Topics included:• Domestic and overseas investment
environment• Equities, bonds, and investment trusts• NISA • Fund wrap • Inheritance/gift and will
Details on p. 13
In FY2017, we conducted over 1,500 seminars nationwide for individual clients, including seminars in collaboration with the other group companies. We will continue to organize seminars addressing a broad range of themes to meet client needs.
Deals
4 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 5
Equity Analyst Ranking
Aiming to be the best financial services provider
Survey on Most Popular Bond/Forex Analyst/Economist
IPO Lead ManagerFY2017
Mizuho Securities has achieved a strong track record and earned a first-class reputation by drawing on the group’s diverse expertise to offer a full line of financial solutions to meet the diverse needs of clients.
We will seek to establish competitive advantage by maximizing Mizuho’s strengths while supporting the sustainable growth and development of clients, economies, and communities.
In the Nikkei Veritas and Institutional Investor magazine annual analyst rankings for 2018 based on votes of institutional investors, we ranked No. 2 in equity analyst ranking by company and many of our analysts ranked No. 1 in rankings by industry.
Annual Rankings by Company
2014 2015 2016 2017 2018
Nikkei VeritasAnnual Analyst Ranking
No.1 No.1 No.1 No.1 No. 2Institutional Investor
All-Japan Research Team Ranking
No.1 No.1 No.1 No.1 No. 2
Mizuho Financial Group ranked No.1 in the 2018 Nikkei Veritas survey on most popular bond/forex analyst/economist for companies, marking the second straight year.
The number of deals we have won has increased significantly since the 2013 merger1, and for FY2017 we ranked No. 2 in number of IPO lead manager deals2.
No. 2 No.1 No. 2
No. 2 No.4 No. 2 No.1
Based on underwriting amount and issuance dateFigures above include straight bonds, investment corporation bonds, FILP agency bonds, local government bonds (lead manager method only), samurai bonds, and preferred securities, and exclude corporate treasury debt.Source: Prepared by Mizuho Securities based on data from I-N Information Systems
Based on number of deals; any Japanese-related dealsReal estate deals excludedSource: Prepared by Mizuho Securities based on data from Thomson Reuters Markets
Based on underwriting amount and issuance dateFigures above are the sum of equities from initial public offerings, equities from existing public offerings, and convertible bonds (including REITs)Source: Prepared by Mizuho Securities based on data from Thomson Reuters Markets
Based on deal amounts and settlement datesSource: Prepared by Mizuho Securities based on data from Thomson Reuters Markets
3,036.5
19.6
FY2014
2,285.1
17.1
FY2015 FY2016
3,195.2
20.8
FY2017
2,749.1
18.9
Total Domestic Bonds from Public OfferingsAmount (JPY bn) Share (%)
Bond Underwriting
Amount Amount Deals
452.6
11.9
745.7
13.7
443.1
12.6
583.7
12.7
FY2014 FY2015 FY2016 FY2017
Total Domestic and Cross-border EquitiesAmount (JPY bn) Share (%)
Equity Underwriting
1,155.6
179
1,844.6
170
1,643.1
154
1,642.6
148
FY2014 FY2015 FY2016 FY2017
ABS Lead Manager Amount (JPY bn) No. of deals
Structured Finance Business
Amount
3,753.4
167
3,214.2
169
6,970.6
182
2,528.2
218
FY2014 FY2015 FY2016 FY2017
M&A Advisory for Announced DealsAmount (JPY bn) No. of deals
M&A Advisory
914
FY2014 FY2015 FY2016
16
FY2017
16
No. of dealsIPO Lead Manager
Annual Score Ranking by Company
2014 2015 2016 2017 2018
Nikkei Veritas
Survey on most popular bond/forex analyst/economist
No. 2 No. 5 No. 2 No.1 No.1
ABS Lead Manager (Apr. 1, 2017 - Mar. 31, 2018)
Rank Company Name No. of deals Amount (JPY bn)
1 Mizuho Financial Group 148 1,642.62 Sumitomo Mitsui Trust Holdings, Inc. 15 633.4
3 Sumitomo Mitsui Financial Group 25 578.1
4 Morgan Stanley 13 459.0
5 Daiwa Securities Group Inc. 10 368.2
Total Domestic and Cross-border Equities (Apr. 1, 2017 - Mar. 31, 2018)
Rank Company Name Amount (JPY bn) Share (%)
1 Nomura Securities 1,115.5 24.2
2 Daiwa Securities Group Inc. 931.2 20.2
3 Sumitomo Mitsui Financial Group 663.2 14.4
4 Mizuho Financial Group 583.7 12.75 Morgan Stanley 515.6 11.2
M&A Advisory for Announced Deals (Apr. 1, 2017 - Mar. 31, 2018)
Rank Company Name No. of deals Amount (JPY bn)
1 Sumitomo Mitsui Financial Group 248 1,966.3
2 Mizuho Financial Group 218 2,528.23 Nomura Securities 108 6,766.8
4 Kaede Group 59 3.0
5 KPMG 53 442.9
Total Domestic Bonds from Public Offerings (Apr. 1, 2017 - Mar. 31, 2018)
Rank Company Name Amount (JPY bn) Share (%)
1 Nomura Securities 3,015.2 20.7
2 Mizuho Securities 2,749.1 18.93 Mitsubishi UFJ Morgan Stanley Securities 2,636.2 18.1
4 Daiwa Securities 2,581.2 17.8
5 SMBC Nikko Securities 2,520.3 17.3
League tables
1 Since the merger of the former Mizuho Securities and former Mizuho Investors Securities
2 Based on data from Capital Eye Top-left basis REITs and global offerings excluded
Deals
2nd straight
yearDeals
6 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 7
Diverse products and services
Channels
At Mizuho Securities, individual clients are provided a wide range of investment information and financial products, including Japanese and foreign equities and bonds, investment trusts, and wrap accounts. At the same time, we also offer individual clients professional financial services backed by our expert knowhow in close collaboration with other Mizuho companies.
Corporate clients, on the other hand, can choose from among a diverse array of investment banking solutions, including support to aid companies transitioning from private to public, capital raising, business succession, and investment products, all expertly designed to resonate with the specific corporate strategies of each client.
At Mizuho Securities, we cater to increasingly diverse client needs via our key call center and online (Mizuho Securities Net Club) services in addition to an industry-leading domestic retail network.
One Mizuho InitiativesIn addition to the efforts made so far such as the development of joint branches between ourselves and Mizuho Bank and Mizuho Trust & Banking, the establishment of Planet Booths, and the referral of Mizuho Bank customers looking to invest in securities, the Retail & Business Banking Division is committed to further accelerating Banking-Trust-Securities integrated operations. Some of the services we have begun to offer include financial products brokerage services at all domestic branches of Mizuho Bank, bank agency services of Mizuho Bank at all branches of Mizuho Securities, and trust agency services (testamentary services, educational fund giving trusts, and calendar year gift trusts) of Mizuho Trust & Banking at all branches of Mizuho Securities.
Business model
Retail and medium-sized corporate business
Drawing on an industry-leading Japan-wide retail network, Mizuho Securities has established a structure for the Retail & Business Banking Division designed to address the needs of a wide range of clients—from individual to corporate.
Moreover, we have developed various channels, including call center services and online services (Mizuho Securities Net Club), to meet increasingly diverse client needs.
Delivering expertly-tailored services through our industry-leading retail network
In addition to accepting client orders, our call center service handles a wide array of inquiries such as requests to handle various procedures and provide reference materials.
Call Center
* Evaluations are conducted by HDI support center certified testers and volunteer testers from among the public who gather evaluation data by making phone calls to the call centers, target companies. Customer service quality of each call center is evaluated in accordance with criteria based on HDI international criteria from the perspective of clients via four rankings: 3 Stars, 2 Stars, 1 Star, and No Star.
Joint branchesTo enhance the consulting functions of Banking-Trust-Securities integrated operations, we are opening joint branches under a new concept of providing integrated (banking, trust, and securities) services at “one-stop” locations as well as strengthening the operation of our “terminal” branches.
Drawing on an industry-leading Japan-wide retail network, our sales officers offer clients expert guidance on how to manage their assets, underpinned by carefully tailored services to perfectly match their needs.
Sales Offices
Mizuho Securities Net Club service empowers clients to quickly buy and sell products, such as equities and investment trusts, and provides them with timely information enabling them to make well-informed decisions regarding their investments.
Online Online trading serviceMizuho Securities Net Club
Mizuho Securities Net Club Search
Attained the Highest Rating from HDI of 3 Stars for Customer ServiceMizuho Securities call center attained the highest rating of 3 Stars for FY2018 Customer Service Ranking* benchmark hosted by HDI-Japan, a Japanese branch office of HDI (the world’s largest membership association created for the technical support industry).
Highlight
Obtained “COPC CSP Standard 5.2” in October 2017Authorized by US-based Customer Operations Performance Center Inc. (COPC), COPC Standards are international quality assurance standards for contact centers, granted only to those organizations which achieve excellent performance and realize incomparably high levels of customer satisfaction.
Highlight
8 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 9
Share of Yen-Denominated Bond Transactions Share of TSE Trading Value20 (%)
15
10
5
02011 2012 2013 2014 2015 2016 2017 (FY)
4.0 (%)
3.0
2.0
1.0
02014/H1 2014/H2 2015/H1 2015/H2 2016/H1 2017/H2 (FY)2016/H2 2017/H1
Business model
Markets & products business Investment banking businessEstablishing a top-tier presence in financial markets by offering investment products and services tailored to client needs
Offering cutting-edge investment banking services of the highest-quality to clients around the world
Figures up to 2012 are those of “former Mizuho Securities.”** Former Mizuho Securities is an entity prior to the merger on January
4, 2013 with former Mizuho Investors Securities.
In a survey conducted by Greenwich Associates on yen-denominated bond trading quality in 2017, Mizuho Securities received high marks in the categories of sales quality, research quality, and trading quality.
In a survey conducted by Greenwich Associates in 2017, Mizuho Securities received high marks in the categories of Japanese equity research/advisory vote share and Japanese equity trading share.
Source: Prepared by Mizuho Securities based on data from Greenwich Associates
Fixed income
Bond underwriting
Equity underwriting Structured finance
Equity
M&A advisory
Mizuho Securities has established itself as the market leader in yen-denominated bonds, having secured top market share. We dedicate our efforts to delivering products expertly tailored to our clients’ investment strategies, proactively engaging in market making, and providing highly-sophisticated information. Furthermore, we are making efforts to strengthen cross-border transactions through fully-integrated domestic and overseas operations to effectively leverage global markets in responding to our clients’ diverse needs.
Mizuho Securities has earned a first-class reputation as an industry leader in bond underwriting operations backed by proven skills in proposing solutions inherently-suited to market conditions and issuer needs, an ability to determine prices that accurately reflect investor demands, an incomparable responsiveness to market changes, and a strong track record in bond sales.
Mizuho Securities has achieved sector-leading performance in equity underwriting operations, serving as a lead underwriter in a number of large finance deals thanks to superior underwriting knowhow and strong equity selling power both in Japan and overseas. We also provide extensive support to companies transitioning from private to public.
Mizuho Securities has also achieved a strong track record and earned a first-class reputation in structured finance operations, particularly regarding the securitization of various financial assets such as monetary claims and real estate. Accordingly, we have lived up to our reputation as a front-runner in Japan’s securitization market.
In the equity business, Mizuho Securities is committed to properly satisfying increasingly sophisticated client needs by expanding IR services for clients both in Japan and overseas as well as offering enhanced execution services for electronic transactions, while at the same time leveraging a stronger research team across the Pan-Asian region in addition to the strengthening of our sales and trading structures. Likewise, by constantly making upgrades, we ensure that both corporate and individual clients are able to take advantage of state-of-the-art transaction methods and cutting-edge research.
Mizuho Securities has a top-class track record in M&A advisory business, underpinned by cutting-edge knowledge and expertise that enables us to offer clients advice in line with their management strategies. Our advisory services reach far beyond Japan’s borders, to cross-border deals, which are experiencing a substantial increase in recent years.
The Global Markets Division offers a highly-diverse range of value-added investment products and services to properly satisfy the increasingly sophisticated needs of clients both in Japan and overseas while also effectively leveraging our international network of subsidiaries.
We will continue to further reinforce our sales and trading structures by focusing on client relationships and achieving a more solutions-centric business.
The Global Investment Banking Division at Mizuho Securities comprises “coverage” units, which nurture relationships with clients, and “products” units, which create highly-specialized solutions for clients.
These units work in harmony to provide sophisticated investment banking services, including equity or bond financing through capital markets and M&A advisory services as part of management strategies to meet increasingly diverse and complex client needs.
Mizuho Securities is currently ranked No.10 in terms of US corporate bond DCM league tables for FY2017.
US corporate bonds: bonds externally-rated as investment grade and above issued by US corporations with issuance amounting to at least USD 250 million. However, this excludes emerging debt, corporate treasury debt, and sole lead manager deals.
Highlight
10 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 11
Highest reputation in the industry as Japan’s best research house for both equities and bonds
In the category of bond research, the 2018 survey conducted by Nikkei Veritas ranked Mizuho Financial Group as No.1 for the second straight year for most popular bond/forex analyst/economist. In the category of equity research, we were voted No. 2 by institutional investors in terms of equity analyst ranking as reported by Nikkei Veritas and Institutional Investor magazines, respectively, while many of our analysts ranked No.1 by industry.
We continue to make efforts to further improve our global research capabilities.
Mizuho Investment Conference event (held in Tokyo) Investment Environment Seminar
Voted No.1 in the 23rd Annual Survey on Most Popular Bond/
Forex Analyst/Economist (Overall Company Ranking and
Overall Group Ranking) of Nikkei Veritas
Voted No. 2 in the 30th Annual Analyst Ranking
(Overall Company Ranking) of Nikkei Veritas
Voted No. 2 in The 2018 All-Japan Research Team
Ranking of Institutional Investor
A team of experts dedicated to addressing the various potential challenges Mizuho customers face
Business model
Voted No.1 in 9 out of 32 business categories in the 30th
Annual Analyst Ranking of Nikkei Veritas
Research (in-depth investment information)
Offering timely and in-depth survey analysis and research by industry-leading experts to support clients’ asset management
At Mizuho Securities, we have an outstanding survey system in place, consisting of an expert team of highly-specialized analysts, strategists, and economists who review and analyze economic trends in Japan and overseas, as well as industry trends, listed companies, equities, interest rates, and foreign exchange factors from various perspectives.
Based on their findings, we prepare a wide range of information including outlooks and investment strategies which are potentially valuable in managing assets of investors. Such information ultimately becomes the basis of various reports, seminars, and investor events as well as media reporting.
Research business
Investment information for individual clients
Seminars and investor events
Mizuho Securities understands the needs of institutional investors both in Japan and overseas, and therefore is currently developing an even stronger research team across the Pan-Asian region, including Japan. Our equity research team, which includes top class investment strategists and sector analysts, addresses the entire range of information needs by providing evaluations of industry trends and individual companies, by developing equity investment strategies and by performing quantitative analysis.
Mizuho Securities has one of the most highly-advanced teams of economists and analysts in Japan for fixed income research business, which provides outlooks on economic and interest-rate-related trends in Japan and overseas, credit analysis of issuers, assessments of the impact of monetary policies in Japan and overseas, and fixed income investment strategy proposals to mention a few. In addition, we also collaborate closely with economists at our overseas subsidiaries and thereby provide information on a global scale through publications such as global macroeconomic reports.
Mizuho Securities provides individual clients with easy-to-understand research and market information. We strive to offer information which contributes to the medium and long-term asset growth of our clients, including reports on domestic and global economic conditions, market conditions, industry trends, and individual stocks provided in our periodical publications Market View and Outlook. Moreover, we also publish
the “Mizuho Mirai Yosoku” reports which specifically focus on timely equity investment themes currently in the spotlight.
We also deliver the latest market information through our free video service which includes “Mizuho Monthly View” and the Nikkei CNBC program “Hiru Express,” available via our website.
Institutional investors Individual clients
Mizuho Securities holds seminars and investor events aimed at various institutional investors, both large and small.
Held every September in Tokyo, the Mizuho Investment Conference is the largest of these and consists of a series of one-on-one meetings between companies and investors and workshops featuring important topics. Last year’s event (FY2017) was successfully held with approximately 1,200 institutional investors as well as some 350 companies in attendance from Japan and overseas.
In FY2017, we conducted over 1,500 seminars nationwide for individual clients covering various topics. In addition to holding New Year Seminars and Summer Seminars at all branches nationwide to provide asset management information on equities, investment trusts, wrap accounts, etc., we leveraged Mizuho’s collective strength by collaborating with Mizuho Bank and Mizuho Trust & Banking to offer seminars on themes such as inheritance/gift and testaments.
Highlight
12 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 13
Name Mizuho Securities Co., Ltd.
Head Office location
Otemachi First Square 1-5-1,Otemachi, Chiyoda-ku,Tokyo 100-0004 JapanTel: +81-3-5208-3210
Established July 1917
Representative President & CEO: Koichi Iida
Main business Financial instruments Business
Registration numberRegistered with the Director of the Kanto Local Finance Bureau of the Ministry of Finance (Kin-sho) No. 94
Capital JPY 125,167 million
Number of employees 7,554 (as of March 31, 2018)
NetworkDomestic: 262 officesOverseas: 9 offices
Stock exchange membershipsTokyo Stock Exchange, Osaka Exchange, Nagoya Stock Exchange, Fukuoka Stock Exchange, Sapporo Securities Exchange, and Tokyo Financial Exchange
Association memberships
Japan Securities Dealers Association,Japan Investment Advisers Association,The Financial Futures Association of Japan,and Type II Financial Instruments Firms Association
(as of June 30, 2018) (as of June 30, 2018)
Funds • Basic Capital Management, Ltd.• Mobile Internet Capital, Inc.
From venture capital to buyouts, our group subsidiaries and affiliates (a few of which are listed above) manage investment funds covering a broad spectrum of investment themes, including IT and business succession.
Head Office support • Nippon Securities Technology Co., Ltd.• Mizuho Securities Business Service Co., Ltd.• Mizuho Securities Property Management Co., Ltd.
To conduct smooth and reliable transactions with clients, Mizuho Securities has established subsidiaries and affiliates to provide backup support for its IT and office processing operations.
Principal investment • Mizuho Securities Principal Investment Co., Ltd.Drawing on a wide client base, the company commits capital to its investment funds, corporate investors, and real estate.
Consulting • Japan Investor Relations and Investor Support, Inc.Japan Investor Relations and Investor Support offers consulting and survey services such as surveys to identify shareholders, IR arrangements, IPO consulting, and surveys and research related to corporate governance, as well as educational services such as seminars and assistance in obtaining qualifications.
1967 New Japan Securities2000 Shinko Securities
2000 Mizuho Securities
1927 Daito Securities
1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010
2000Mizuho Investors Securities
1985 Kokyo Securities
1922 Nippon Kangyo Securities1905
1965 Public Telephone Securities
1990 Kankaku Securities
1993 IBJ Securities
1994 Fuji Securities
1994 DKB Securities
1937 Kakumaru Securities
1910 Mochizuki Shoten (1944)
1888 Imai Shoten
1891 Tamatsuka Shoten
1891 Fukushima Namizo Shoten
1959 Daisho Securities1917 Osaka Shoji
1947 Ohi Securities
2001Mizuho Investors Securities
2009Mizuho Securities
2013
Mizuho Securities
1968 Wako Securities
1967Nippon Kangyo Kakumaru Securities
1944 Tamatsuka Securities
1944 Yamakano Securities
1872 Imamura Shoten
Business transfer (2004)1993 Norin Chukin Securities
1920 Hara Chuzaburo Shoten 1954 Mochizuki Securities (1966)
1905 Nippon Kangyo Bank Gepposha
History
Corporate overview Principal domestic subsidiaries and affiliates
Establishment Merger Company name change
14 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 15
Directors and Board of Directors
The Board, which is composed of 18 directors, is responsible for determining corporate management policies and other significant matters, as well as for supervising the execution of duties carried out by directors and executive officers. We have further enhanced management supervisory functions of the Board of Directors with the appointment of four outside directors who oversee the operations in a position independent from business execution.
Additionally, having shifted a major portion of business execution decision-making authority from our Board to our executive directors, we are aiming to realize an even faster decision-making process. At the same time, we are striving to enhance the quality of Board discussions regarding matters of particular importance.
Audit & Supervisory Committee
As a company with an Audit & Supervisory Committee structure, we have established an Audit & Supervisory Committee consisting of five members, of which three are outside directors.
The Audit & Supervisory Committee audits director performance. Each member of the Audit & Supervisory Committee also exercises Board-related voting rights, strengthening our ability to effectively monitor management oversight while enhancing the effectiveness of audit and supervisory functions.
Those appointed to serve on our Audit & Supervisory Committee serve in full-time positions as this involves necessary collection of internal information and close collaboration with internal audit divisions.
Execution of Duties
Mizuho Securities also has an executive officer system in place to ensure a clear separation between management supervisory functions and business execution while clarifying authority and responsibilities. The President & CEO is ultimately responsible for executing business in accordance with basic management policies determined by the Board of Directors.
Organizational structure
Supervision Auditing
General Meeting of Shareholders
Board of Directors Audit & Supervisory Committee
President & CEOExecutive Management Committee
Internal Audit Committee (including external members)
Divisions, Units, Groups, etc.Business policy committees (Compliance Committee and others)
Internal Audit Dept.
(as of June 30, 2018)
Corporate governance Organizational structure
(as of June 30, 2018)
Financial Control & Accounting Group
Risk Management Group
Human Resources Group
IT & Systems Group
Operations Group
Compliance Group
Investment Dept.
Markets Strategic Intelligence Dept.
Due Diligence Dept.
Strategic Planning Group
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Global Investment Banking Division
Retail & Business Banking Division
Research & Consulting Unit
Internal Audit Group
Global Markets Division
Syndication Business Division
Executive Secretariat
Equity Business Division
Fixed Income Business Division
Public & Financial Institutions Business Division
Products Business Division
Investment Banking Business Division
Branches/Planet Booths
Fund Business Division
Basic approach regarding corporate governance
Corporate governance structure
At Mizuho Securities, we constantly seek new ways to streamline our organization and enhance management speed. At the same time, we have been taking steps to achieve a more advanced corporate governance platform by ensuring separation between management supervisory functions and business execution while clarifying authority and responsibility through the establishment of an executive officer system. We will continue to strive for highly transparent and efficient management. At the same time, taking full compliance as our basic management principle, we strictly comply
with all laws and regulations and carry out business activities in a fair and honest manner in line with accepted societal norms. Furthermore, we are also leveraging initiatives, designed to fulfill our fiduciary duty, to enhance the client-centric nature of our business operations.
In addition to such compliance efforts, Mizuho Securities has adopted the group-wide Mizuho Code of Conduct, established by Mizuho Financial Group.
Mizuho Securities believes that strengthening management supervisory functions by appointing highly experienced experts as outside directors enhances corporate governance and is an important means of earning the trust of stakeholders. Based on this approach, Mizuho Securities has adopted the corporate governance structure illustrated below.
Moreover, along with other core subsidiaries of Mizuho Financial Group (Mizuho Bank and Mizuho Trust & Banking), on June 22, 2017 we changed our corporate governance system from the previous “Company with Board of Company Auditors” structure to the “Company with Audit & Supervisory Committee” structure in aiming to enhance group-wide corporate governance.
16 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 17
Senior executives
* Messrs. Hidetaka Kawakita, Hideo Etani, Yuji Yoshimasu, and Masaru Ono are “outside directors” as prescribed in Article 2, Item 15 of the Companies Act.
President & CEO Koichi Iida
Deputy President & Executive Officer
Naofumi Fuke Head of Retail & Business Banking Division
Atsushi Takahashi Head of Global Markets Division and Head of Global Markets
Senior ManagingExecutive Officers
Tatsuya Yamada Head of Financial Control & AccountingGroup, Head of IT & Systems Group, Head of Global Finance and Head of Global IT
Toshio Hirota Head of Global Investment Banking Division
Yasuto Hamanishi Co-Head of Global Investment Banking Division, Head of Investment Banking Business Division, Head of Products Business Division and Head of Global Investment Banking
Managing Executive Officers
Masaya Oishi Head of Fund Business Division and in charge of JA Sales Dept. of Global Markets Division
Taiji Kumagai Head of Compliance Group and Head of Global Compliance
Kenji Fujii Head of Research & Consulting Unit, Head of Risk Management Group, in charge of Due Diligence Dept. and Head of Global Risk Management
Hideyuki Kawashima Head of Internal Audit Group and SC Group Chief Audit Executive
Yuzo Kanamori Head of Strategic Planning Group, Head of Operations Group, in charge of Investment Dept. and in charge of Markets Strategic Intelligence Dept.
Sadamu Yoshida In charge of Global Investment Banking Business and in charge of Retail & Business Banking
Hikaru Shimomura Joint Head of Retail & Business Banking Division (in charge of Corporate Business)
Kenji Tsujitsugu Head of Public & Financial Institutions Business Division
Yoshihiro Kishishita In charge of Retail & Business Banking
Keiji Maruko In charge of Global Investment Banking Business
Osamu Endo In charge of Global Investment Banking Business
Jerry Rizzieri Attached to Strategic Planning Group and President & CEO of Mizuho Securities USA Inc.
Michiel de Jong Attached to Strategic Planning Group and President & CEO of Mizuho International plc
Takafumi Matake Head of Human Resources Group and in charge of Executive Secretariat
Toshikazu Hiramatsu In charge of Global Investment Banking Business
Kazumichi Komatsu In charge of Retail & Business Banking
Executive Officers Shinobu Yamazaki Joint Head of Operations Group and Head of Global Operations
Yu Nakaoki In charge of Global Investment Banking Business and in charge of Retail & Business Banking
Hiroshi Mihashi Joint Head of IT & Systems Group
Yasuhiro Shibata Attached to Global Markets Division and Deputy President of Mizuho Securities USA Inc.
Masahiro Ikeda Head of Area of Retail & Business Banking Division
Shinichi Fukui In charge of Retail & Business Banking
Seiichiro Miyaoka Joint Head of Global Markets Division
Yasumitsu Mori Head of Area of Retail & Business Banking Division
Tatsuya Tsunoda In charge of Global Investment Banking Business
Sachie Kinugawa General Manager of Nagoya Branch
Hitoshi Imai Head of Area of Retail & Business Banking Division
Atsushi Yamamoto In charge of Global Investment Banking Business
Masahiro Kihara General Manager of Financial Planning Dept.
Hirobumi Nakayama General Manager of Executive Secretariat
Hiroshi Yoshizawa Co-Head of Fixed Income Business Division
Shinsuke Kawamoto In charge of Retail & Business Banking
Ryoichi Kojima Head of Area of Retail & Business Banking Division
Hideki Ashikari General Manager of Kyoto Branch
Yasuto Sengoku Joint Head of Internal Audit Group
Norifumi Akiyama Head of Syndication Business Division and Head of Global Syndicate
Kenya Koshimizu Co-Head of Fixed Income Business Division
Jun Mochizuki In charge of Global Investment Banking Business
Satoshi Asai Attached to Strategic Planning Group and attached to Financial Control & Accounting Group
(as of August 1, 2018) (as of August 1, 2018)
Board of Directors Executive officers
ChairmanKosuke Nakamura
President & CEO(Representative Director)
Koichi Iida
Executive Managing DirectorManaging Executive Officer
Masaya Oishi
Executive Managing DirectorManaging Executive Officer
Hideyuki Kawashima
DirectorHidetaka Kawakita*
Director(Audit & Supervisory Committee Member)
Hideo Etani*
Deputy PresidentDeputy President & Executive Officer
Naofumi Fuke
Senior Executive Managing Director(Representative Director)Senior Managing Executive Officer
Tatsuya Yamada
Executive Managing DirectorManaging Executive Officer
Taiji Kumagai
Executive Managing DirectorManaging Executive Officer
Yuzo Kanamori
Director(Audit & Supervisory Committee Member)
Yasushi Higo
Director(Audit & Supervisory Committee Member)
Yuji Yoshimasu*
Deputy PresidentDeputy President & Executive Officer
Atsushi Takahashi
Senior Executive Managing DirectorSenior Managing Executive Officer
Toshio Hirota
Executive Managing DirectorManaging Executive Officer
Kenji Fujii
DirectorTatsufumi Sakai
Director(Audit & Supervisory Committee Member)
Hiroki Takeshi
Director(Audit & Supervisory Committee Member)
Masaru Ono*
18 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 19
Mizuho believes in undertaking CSR initiatives that both contribute to the sustainable development of communities and lay
the foundations for the creation and enhancement of new corporate value. The entire Mizuho group is moving forward as
one in working together on CSR initiatives, positioning them as a core component of our corporate culture.
In June 2016, Mizuho Financial Group formulated and publicly disclosed the group’s Diversity & Inclusion Statement, to
foster growth and promote the active involvement of all members of Mizuho’s diverse workforce. Likewise, we at Mizuho
Securities aim to create new corporate value through the continual development of innovative financial products, and the
transformation of services and operational processes to realize the next stage of “diversity” by coupling this with the pursuit
of “inclusion,” as well as by proactively adopting the diverse perspectives and ideas of each employee in day-to-day
operations and decision-making processes.
We continue to set numerical targets befitting our status as a leader in diversity & inclusion and promote innovative
initiatives on a global basis.
Specific initiatives to introduce diverse work styles
Toward sustainable development of communities
The Diversity & Inclusion (D&I) Promotion Committee meets twice a year, attended by a chairman nominated by the President & CEO and also attended by senior executive members representing each division, who discuss policies and measures to promote diversity & inclusion (D&I) to foster growth and promote the active involvement of all members of Mizuho’s diverse workforce. In addition, Mizuho Securities is developing various promotion activities based on duties at each workplace, by appointing the person concurrently in charge of the D&I Office of the Human Resources Dept. as the company-wide promotion leader and by appointing employees at each workplace to serve dual-hat roles as D&I promotion representatives.
In light of the diverse societal challenges we currently face—from environmental change to chronic social issues—we
proactively focus on providing products and services which help to address such challenges including finance for
businesses pursuing renewable energy and support for corporate innovation. In addition, we harness our corporate
resources to back various development initiatives such as achieving sustainable development of capital markets, educating
the next generation, and pursuing volunteer activities.
• Underwriting for and sales of green bonds, social impact bonds, etc.• Support for listing of infrastructure funds, etc.
• Cleanup and administrative support for regional events
• Disaster relief assistance (donations, tree planting, etc.)
• Support for art and culture activities
We enhanced our framework for supporting companies seeking to issue green bonds and other such ESG social impact bonds by establishing a sustainable finance desk and concluding partnership agreements with environmental certification organizations. Such efforts illustrate how, as a structuring agent, we are actively supporting companies that raise capital through ESG bond issuance not to mention our successful handing of the first model pilot project for green bond issuance promoted by Japan’s Ministry of the Environment.
As a good corporate citizen, we promote a wide variety of CSR activities designed to contribute to local communities based on their specific needs, including cleanup events in collaboration with local governmental organizations and administrative support for community events.
We host “Innovation Field,” a conference primarily aimed at strengthening industry-academia-government collaboration through information exchange among major corporations and start-up companies possessing state-of-the-art technology, government bodies, universities, and others.
• Holding conferences to support innovation• Investment in venture capital, etc.
Diversity promotion led by two approaches: top-down and bottom-up
• At Mizuho Securities, we strive to enhance measures to support the work-life balance of employees caring for children or other family members.
• We have set numerical targets regarding female employee representation. We offer female employees opportunities to advance their careers by organizing training for young, mid-career, and experienced employees to increase opportunities for female employees to serve in leadership roles.
• In addition, the entire Mizuho group supports wide-ranging employee-initiated networking activities, including LGBT + ally activities, efforts to promote the active participation of women, globalization efforts, and initiatives to leverage technology to create value.
Promoting the active involvement of diverse employees
• Work-life balance handbook (for employee and supervisor use)
• Seminars for expecting mothers and childcare leave
• Working mothers network (Mama-Net)
• Group workplace childcare centers
• Intranet-based information on caregiving
• Concierge desk for caregivers (free consultation counter by external experts)
Work-life balance initiatives
Meeting of those in charge of promotion of diversityEncouraging male employees to take childcare leaveWork-life balance of employees caring for family members other than children
Mizuho securities numerical targets
Numerical targets Achievement period Most recent results*
Percentage of management positions filled by women
Department Head equivalent 10%
July 2019
6%
Manager equivalent and above 20% 16%
Supervisor equivalent and above 30% 28%
Percentage of paid annual leave taken by employees 70% March 31, 2018 65%
Percentage of eligible male employees who take childcare leave (for children born in FY2016) 100% March 31, 2018 75%
* Percentage of female employees in management positions is as of March 31, 2018. Percentage of paid vacation leave taken is as of March 31, 2017 and that of eligible male employees who take childcare leave is as of March 31, 2017.
In September 2015, based on the Revision of the “Act on Advancement of Measures to Support Raising Next-Generation Children,” Mizuho Securities received Platinum Kurumin certification in recognition of our significant efforts to implement and maintain systems that assist workers in balancing work and childcare.
“Platinum Kurumin” Certification
Targeting environmental issues
• Financial, economic, and investment education for educational institutions and working adults
• Research on teacher training with Waseda University’s Graduate School of Teacher Education
• Providing pro bono courses to universities and graduate schools, etc.
In seeking to broadly nurture capital markets, we host a wide array of programs to enhance the financial literacy of individuals of all ages. These include on-site classes and lectures designed to meet the needs of participants and cover topics such as finance, economics, and investing. In addition, we have been offering pro bono courses to universities and graduate schools, aimed at educating the up-and-coming generation of professionals who will serve as the cornerstone of the capital markets of the future. We also conduct professional and practical lectures covering corporate finance theory and the latest capital market trends.
On-site classes and lectures (FY2017)Number of lectures offered
Number of participants
For educational institutions(Junior and senior high schools, universities, etc.)
38 3,136
For working adults(Companies and local governmental organizations)
20 2,862
Pro bono courses (FY2017)
8 universities and graduate schools; 13 courses
Sustainable development of capital markets and cultivation of the next-generation
Volunteer and other activities to address the needs of local communities
Fostering industry
CSR initiatives Diversity and inclusion initiatives
20 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 21
262 offices1
(as of June 30, 2018)
Nationwide network in Japan
Including105 branches Planet Booths2153We deliver expertly-tailored services to clients nationwide through our network of 262 offices in Japan, the largest in the domestic securities industry.1 Including Tokyo Head Office and regional head offices, which total
three, and one sales branch.2 Planet Booths are consulting booths located within Mizuho Bank
branches.
including
3 Planet Booths
Chugoku/Shikoku
13 offices
Hokuriku/Koshinetsu
10 officesincluding
4 Planet Booths
Hokkaido/Tohoku
6 offices
Kanto[excluding Tokyo]
57 officesincluding
36 Planet Booths
Tokyo
105 officesincluding
83 Planet Booths
Kyushu/Okinawa
11 officesincluding
2 Planet Booths
Kinki
47 officesincluding
22 Planet Booths
Tokai
13 officesincluding
3 Planet Booths
Overseas network
Mizuho Securities USA Inc.
Mizuho International plc
Beijing Representative Office
Shanghai Representative Office
Mizuho Investment Consulting (Shanghai) Co., Ltd
Mizuho Securities Asia Limited
Mizuho Bank (Switzerland) Ltd
Mizuho Securities India Private Limited
Mizuho Securities (Singapore) Pte. Ltd.
SubsidiariesRepresentative offices
Europe1 • Mizuho International plc Head office: London
Underwriting, sales and trading of marketable securities, M&A advisory, etc.
• Mizuho Bank (Switzerland) Ltd Head office: Zurich
Private banking advisory
1 In June of 2018, a new company (Mizuho Securities Europe GmbH) was established in Frankfurt, Germany and subsequently an application for a MiFID investment services securities trading license was filed.
North America
• Mizuho Securities USA Inc.2 Head office: New York
Underwriting, sales and trading of marketable securities, exchange listed derivatives brokerage, and M&A advisory, etc.
2 Reorganized under the umbrella of a US Bank Holding Company (BHC)—Mizuho Americas LLC from July 1, 2016.
Asia • Mizuho Securities Asia Limited Head office: Hong Kong
Underwriting, sales and trading of marketable securities, M&A advisory, investment banking, etc.
• Mizuho Securities (Singapore) Pte. Ltd. Head office: Singapore
Brokerage and clearing services for exchange listed derivatives, equity sales, fixed income sales, debt capital markets, M&A advisory, and wealth management services
• Mizuho Investment Consulting (Shanghai) Co., Ltd. Head office: Shanghai
China-related consulting
• Mizuho Securities India Private Limited Head office: Mumbai
Intermediary and introductory services relating to overseas financing, M&A advisory, etc.
Beijing Representative Office Shanghai Representative Office
Information gathering, etc. Information gathering, etc.
22 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 23
Mizuho, the leading Japanese financial services group with a global presence and a broad customer base, is committed to:Providing customers worldwide with the highest quality financial services with honesty and integrity;Anticipating new trends on the world stage;Expanding our knowledge in order to help customers shape their future;Growing together with our customers in a stable and sustainable manner; andBringing together our group–wide expertise to contribute to the prosperity of economies and societies throughout the world.
These fundamental commitments support our primary role in bringing fruitfulness for each customer and the economies and the societies in which we operate. Mizuho creates lasting value. It is what makes us invaluable.
We will remain the most trusted financial group and our clients’ long-term partner, thanks to our wealth of experience and specialized knowledge, nurtured by innovative thinking and underpinned by an extensive business base.
As experts in a wide range of services, we all endeavor to meet the needs of constantly evolving clients, economies, and communities.
The most trusted financial group
The most united group
We provide optimum and innovative financial services to individuals, corporations, economies, and communities by remaining at the global forefront of economic and social change.
The best financial services provider
Official Sponsor of Tokyo Disneyland®
Mizuho Securities has endorsed Tokyo Disneyland’s concept of a
“Kingdom of Dreams and Magic” and currently sponsors The
Enchanted Tiki Room: Stitch Presents ‘Aloha E Komo Mai!’ show.
We will continue to support everyone’s dreams by providing
services clients can always
rely on and by contributing
to societal development.
TV advert for Mizuho Securities
A TV advert for Mizuho Securities has been launched, based on the group’s concept “Being close to you. Being there for you.”
As the Mizuho group’s securities company, we aim to ensure that even clients considering securities investment for the first time feel completely at ease with us as their consultation partner and feel secure about using all our investment services.
Our concept: “Being close to you. Being there for you.”
“Being close to you”
“Only one”“The first one you call (The most
trusted financial group)”
“Being there for you”
“The best financial services provider”“One Mizuho (a truly united group)”
As a member of the Mizuho group, Mizuho Securities has adopted “Mizuho’s Corporate Identity,” established by Mizuho Financial Group. As such, we strive to remain our clients’ most trusted long-term financial partner in line with Mizuho group’s Corporate Identity vision. To achieve this vision, group employees share a common set of five core values—called the Mizuho Values—beginning with putting our clients first. As a team of finance professionals providing a broad range of financial services, Mizuho Securities and all Mizuho group companies are committed to fulfilling our fiduciary duty* in providing the best, most appropriate solutions to meet the diverse needs of our clients.
Policy on Initiatives for Practicing Fiduciary Duties of Mizuho Securities
* Fiduciary duty is a general term for the broad range of various roles and responsibilities that fiduciaries are expected to fulfill when engaging in certain business activities in order to live up to the trust that is placed in them by their clients.
Mizuho’s Corporate Identity Information
The most trusted financial services group with a global presence and a broad customer
base, contributing to the prosperity of the world, Asia, and Japan.
Co
rpo
rate
Iden
tity
CorporatePhilosophy:
Mizuho’s fundamental
approach to business activities, based on the raison d’être of Mizuho
Vision:
Mizuho’s vision for the future, realized
through the practice of the Corporate Philosophy
The Mizuho Values:
The shared values and principles of Mizuho’s people, uniting all executives and employees together to pursue our Vision
Mizuho Values
Communication and challenge for the futurePassion
Acuity and promptnessSpeed
Diversity and collective strengthTeam Spirit
Progressive and flexible thinkingInnovative Spirit
The most trusted partner lighting the futureCustomer First
24 Mizuho Securities Co., Ltd. Mizuho Securities Co., Ltd. 25
Printed in Japan
Mizuho Securities Co., Ltd.Otemachi First Square 1-5-1, Otemachi, Chiyoda-ku, Tokyo 100-0004 Japan
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