innovations through digitalization in japan and

Private and confidential

Mizuho Bank, Ltd.Former Chairman, Nobuhide Hayashi

Innovations through Digitalization in Japan and

Philippines-Japan Business Promotion

～The Current State and Role of Japanese Startups～

September 27, 2021

Agenda

1. Digitalization With Next-Generation Technology in Japan

2. Environment Surrounding Japanese Startups

3. Japanese Startups in Southeast Asia

4. Mizuho’s Initiatives

5. Appendix

3Agenda





5. Appendix

4Rapid Changes in Industrial Structure With Next-Generation Technology

Car Tech

Logistics Tech

Retail Tech

Health Tech

Construction Tech

New

Domains

Technology

Existing

Industries

Large companies Startups

etc.

Xtech creates new business domains, moving the world toward a digital society.

Finance

Autonomous driving

Credit

scoresAutomated warehouses

Automated picking

Automated checkout

Telemedicine

Precision agriculture

Distributed power

supply

Aerial mapping

AI

Sensors

IOT

Robotics

Drones

EV/Storage batteries

5GCars

Machines

Logistics

Retail

HealthcareConstructions

Real estate

Agriculture

Electric power

X

Blockchain

MaaS

Next-generation technology is promoting rapid changes in industrial structure.

We are arriving in new era when innovation focused on digitalization is required,

including in the automobile industry, a major industry in Japan.

5Support in the Japanese Government’s Growth Strategy for Next-Generation Technology

Source: Prepared by Mizuho Bank using Japan Revitalization Strategy 2016 and Future Investment Strategy 2017.

The government's growth strategy prioritizes initiatives for digitalization with next-generation technologies such as AI.

Promotion of Digital Innovations in the Government’s Growth Strategy

Japan Revitalization

Strategy 2016

Future Investment

Strategy 2017

The 4th Industrial Revolution (IoT, big data,

artificial intelligence) is positioned first in the

10 strategic public-private joint projects, which

are the key to achieving a nominal GDP of

600 trillion yen

Along with deepening existing policies for realization

of the 4th Industrial Revolution, strategic areas are

established and cross-disciplinary challenges are

clarifiedsuch as; (1) extension of healthy life expectancy, (2) realization of a

mobility revolution, (3) creation of a next-generation supply chain, (4)

comfortable infrastructure and urban development, and (5) FinTech

Establishment of the Digital Agency (September 1, 2021)

As a command tower for the formation of a digital society, to promote future-oriented DX and to

create a public-private infrastructure in the digital age at once in the next five years

6

Large Japanese companies are promoting digitalization utilizing next-generation technology and working to create

new business models and customer experiences in order to respond to changes in the industrial structure.

Digitalization at large companies in Japan is not limited to in-house development but is also being created through

open innovation with startups that have next-generation technology.

Source: Prepared by Mizuho Bank based on websites and public information.

Car Tech

Logistics

Tech

Retail Tech

Health Tech

Construction

Tech

Developing a special EV called e-Palette to

enable future mobility services

Developing delivery drones for deliveries to

community centers on remote islands and in

mountainous areas

Developing the industry’s first app that allows

customers to order exclusively from online

supermarkets

Developing a system for conducting online

medical exams using video calls

Autonomous Driving

Drone Delivery

Internet Supermarket

Telemedicine

Managing video data from cloud-based

cameras and data from sensors, etc.

Remote Construction Management

Pro

vis

ion

of

next-g

en

era

tion

tech

no

log

y

Tier IV, Inc.(Est. 2015)

Autonomous driving

systems

ACSL Ltd.(Est. 2013)

Drones made in Japan

10X, Inc.(Est. 2013)

UI/UX design

Medley, Inc.(Est. 2009)

Telemedicine systems

Safie Inc.(Est. 2014)

Cloud cameras

Examples of Large Companies’ Initiatives for Digitalization Japanese Startups

Startups Supporting Large Japanese Companies in Digitalization

Ito-Yokado

Japan Post

7Philippines-Japan Business Collaboration in Digitalization

Domestic startups have emerged as new players in Japan's revolution in innovation, and

digitalization is playing a major role in social implementation.

Today, we will introduce examples of Japanese startups expected to contribute to solving social

issues in the Philippines by looking at the current situation of Japanese startups.

Potential for Japan-Philippines Business Collaborations to Solve Social Issues

Problem

solving

Social issues (hypothesized)

Rise of domestic startups

Government support

Revolution in innovation at

large companies

Japan Philippines

• Increase in high value-added in the

BPO industry

•Reduction of manufacturing cost

through infrastructure development

•Expansion of e-commerce to cope

with the fact that the Philippines is a

multi-island nation and the

coronavirus

Next-G

en

era

tion

Tech

no

log

y

Provision

of technology

Sharing

social issues

Japanese startups play a leading role in revolution in innovation change and contributing to social

implementation. Active sharing of social issues and next-generation technologies between

Japan and the Philippines and connecting people to business collaboration will lead to

social implementation and contribute to solving social issues in the Philippines.

8Agenda

1. Digitalization With Next-Generation Technology

in Japan




5. Appendix

9

Since start of the Japan Revitalization Strategy 2016, the total amount of funding at domestic Japanese

startups has been in an uptrend. In the first half of 2021, it reached 324.5 billion yen.

Especially recently, the amount of funding per company has increased, and investment is concentrated

in specific companies.

Investment Environment for Startups in Japan (1/3)

- 2018 year average 190 million/company




(JPY 100 million) (companies)

Funding

(100 million yen (left axis))Number of companies funded

(including those with unclear amounts (right axis))

Note 1: Figures for 2021 are for the first six months only.

Note 2: Figures for each year are those observed up to the reference date.

Note 3: Due to the characteristics of the data, the figures including past figures may fluctuate depending on the progress of the survey. The smaller the amount

of money, the greater the impact from the progress of the survey, and the number of companies funded in particular is likely to be impacted.

Source: INITIAL (as of July 28, 2021)

Increase in funding per

company

Source: Prepared by Mizuho Bank based on INITIAL.

10

Since the beginning of FY2021, the number of Japanese unicorn companies (with market capitalization

over 100 billion yen) increased by 4, resulting in a rapid increase to 11 total as of June 2021

Not only Japanese VCs and business corporations but also foreign investors are accelerating

investment in Japanese startups (late stage)


Company SmartHR Inc.

Address3-2-1 Roppongi, Minato-ku,

Tokyo

Head Shoji Miyata

Employees 409 employees

BusinessProvides “SmartHR,” cloud

personnel and labor software

■ Market Capitalization

5

7 7 7

8

10

11

4

5

6

7

8

9

10

11

12

19/9 20/3 20/9 21/3 21/4 21/5 21/6

4 companies

added in FY21

As of FY2020, there were 7 unicorns.

In FY2021, large-scale funding by late-

stage startups became more active, and

unicorns sharply increased.

FY19 FY20 FY21

Trends of Japanese Unicorn

Companies

Examples of SmartHR’s Funding from Foreign

Institutional Investors

■Investors (market capitalization 173.1 billion yen, total funding

amount 23.8 billion yen)

Foreign: Light Street, Sequoia Heritage, Whale Rock, Arena

Domestic: THE FUND, WiL, Coral Capital, etc.

Source: Prepared by Mizuho Bank based on INITIAL and public information.

Series D

173.1billion yen

(JPY 100 million)

Seed

11

Many funds have been established for middle and late investors in Japan as well, and there

is a trend toward larger independent VC funds.

In addition, late investors are also diversifying into foreign PE funds, VCs, etc.


v

Management Companies

JIC Venture Growth Investments

IncubateFund

DCI Partners

BEENEXT

Keio Innovation Initiative

Drone Fund

Mizuho Capital Co., Ltd.

Mitsubishi UFJ Capital Co., Ltd.

Femto Growth III LPS

STRIVE, Inc.

Mitsui Sumitomo Insurance

Venture Capital Co., Ltd.

Committed

Amount (¥)

120 billion

25 billion

14 billion

11.7 billion

10.3 billion

10 billion

10 billion

10 billion

10 billion

10 billion

10 billion

Participation of PE funds and

overseas financial institutions:

Bain Capital/Anatole/Goldman Sachs

/Paypal

Large investments by business

corporations:

NTT DoCoMo, Tokyo Century,

Dentsu Group

Participation of overseas VC:

Sequoia

EC/payment

IoT

Construction

tech

Examples of Funds Established in 2020 Late Investors in Recent Large-Scale Funding

12Unicorn Companies in Japan

Introducing Preferred Networks, an AI company that is expected to contribute to solving the problem

of how to “reduce manufacturing costs through infrastructure development” in the Philippines

from unicorn companies in Japan (valuation of 100 billion yen or more).


No. Company Business Description EstablishedValuation

(100M yen)

１Preferred

Networks

Development of cutting-edge technology

that combines deep learning with deep

knowledge in various specialized fields

HP：https://www.preferred.jp/ja/

March

20143,560

２ SmartNews

News app “SmartNews” for smartphones

and tablets HP：http://about.smartnews.com/

August

20111,916

３ SmartHR

“SmartHR,” cloud personnel and labor

software, etc.HP：https://smarthr.jp/

January

20131,731

４ TRIPLE-1

ASIC “KAMIKAZE II” for bitcoin mining,

AI processor “GOKU” for deep learning

HP：https://triple-1.com/

November

20161,641

５ Paidy“Paidy,” a real-time online payment

serviceHP：https://paidy.com/

March

20081,380

(case study)

13Introducing a Unicorn: Preferred Networks –Industrial DX–


The company aims to implement DX for industries through alliances with major

companies in each industry centered on deep learning technology through AI

It is assumed that automation of factories and plants and the automation of logistics using

robots will contribute to “reduction of manufacturing costs through infrastructure

development,” which is a social issue in the Philippines

Company Preferred Networks

Established March 2014

HeadToru Nishikawa,

Daisuke Okanohara

Business

Development of cutting-edge technology

that combines deep learning with deep

knowledge in various specialized fields

Market

capitalization351.6 billion yen

Outside

shareholders

Eneos, Chugai Pharmaceutical, Fanuc,

Hitachi, Mitsui & Co., Mizuho Bank,

Hakuhodo DY Holdings, Toyota Motor

Corporation, Nippon Telegraph and

Telephone

→ Investment destination of major

domestic business corporations

Technologies related to the advancement

of machine tools and industrial robots,

factory and plant automation

Logistics products using robot control

and data analysis technology

Technologies related to autonomous

driving and connected cars

In the Philippines as well, there is a possibility that industrial DX

will be used for cost reduction in industries and distribution

warehouses by using robot control technology and for efficient

usage of roads with connected cars using autonomous driving.

Collaboration Tips

14Would-Be Unicorns in Japan

No. Company Business Description EstablishedValuation

(100M yen)

1 Hey, Inc.

Operates a service for setting up

cashless, online stores

HP：https://hey.jp/company/

March

2012922

2 Net Protections, Inc.

Provides various payment services through

Credit Tech

HP：https://www.netprotections.com/

July

2018908

3 Astroscale HoldingsSatellites that remove space debris

HP：https://www.netprotections.com/

May

2013773

4 Tier IV, Inc.

Use and operation of an autonomous driving

system that uses IoT/cloud technology

HP：https://tier4.jp/

December

2015620

5 ExaWizards

Develops and commercializes AI products in

areas such as long-term care, healthcare,

HR, robots, and finance

HP：https://exawizards.com/

February

2016502


(case study)

Introducing Hey, a company that is expected to contribute to solving the problem of “expansion of e-

commerce to cope with the fact that the Philippines is a multi-island nation and the coronavirus”

in the Philippines from would-be unicorns (valuation less than 100 billion yen) in Japan

15Introducing a Would-Be Unicorn: Hey, Inc. –DX for Retail Distribution–


Develops and operates the “STORES Digital Store Platform” which supports the digitalization of

business, such as cashless stores and e-commerce support, and supports the introduction of DX at

small- and medium-size retail distribution businesses.

“Stores” enables SMB and sole proprietors to open online shops without IT knowledge, and it is

expected that this will contribute to solving the problem of “expansion of e-commerce to cope with the

fact that the Philippines is a multi-island nation and the coronavirus” in the Philippines.

Opening online stores Online reservation system

Cashless payment POS cash register

In the Philippines as well, it is expected that retail stores such as

small- and medium-size enterprises and sole proprietors with

low IT literacy will be able to easily build an e-commerce site

using this service, which will contribute to further improvement of

the rate of conversion to e-commerce.

Company Hey, Inc.

Established March 2012

Head Yusuke Sato

Business

Develops the “STORES

platform” which supports

digitalization of business,

including the opening of online

stores, cashless payments,

online reservation systems, etc.

Valuation 92.2 billion yen

Outside

shareholders

Bain Capital, PayPal, WiL, Z

Venture, Anatole

→Investment by foreign-

affiliated PE/business

corporations

Collaboration Tips

16Japanese Startups in the BPO Domain (1/2)

Source: Prepared by Mizuho Bank based on INITIAL and companies’ websites.

Classification Company Business Description EstablishedValuation

(100M yen)

Customer

analysisPlaid

Real-time analysis and visual representation of customer behavior and changes in emotions on the website, to enable smooth customer support at the contact center

HP：https://plaid.co.jp/

October

2011

1,046

Mothers

Emotion

analysisEmpath

Assessment of emotions and the ups and downs of mood based on the voice database, achieving immediate operator care

HP : https://www.webempath.com/jpn

October

2017 14

FAQ Nota

Searchable FAQs, which enable customers to solve issues by themselves and resolve the resource shortage by reducing the number of inquiries

HP：https://notainc.com/ja/home

December

200728

Increase in high value-added in the BPO industry

In Japan as well, startups that realize higher value-added in the BPO industry via technology are growing.

17Japanese Startups in the BPO Domain (2/2)


Classification Company Business Description EstablishedValuation

(100M yen)

Natural

language

processing

PKSHA

Technology

Achieves high-precision automation and business support with an industry-specific expression dictionary (Japanese) and a general-purpose system architecture

HP：https://pkshatech.com/ja/

October

2012

530

Mothers

Debt

collectionMILIZE

Enables quantitative determination of the optimal collection actions regarding “when” to collect from “which delinquent debtor” and “on which channel.”

HP：https://milize.co.jp/

April

2009

Not

Disclosed

(case study)


Introducing MILIZE, which is expected to contribute to solving the problem of “increasing high

value-added in the BPO industry” in the Philippines from startups in the BPO domain in Japan

18Introduction of the BPO Domain: Milize, Inc. –DX for Claims Collection–


Using technology, Milize achieves efficiency in credit collection operations that have been done based

on experience and guesswork.

Milize is expected to contribute to solving the problem of “increasing high value-added in the BPO

industry” in the Philippines.

Company Milize, Inc.

Established April 2009

Head Toru Tanaka

Business

Develops and provides financial

services that combine knowledge of

financial operations, marketing,

product development, financial

planning, etc., with technologies such

as machine learning and AI.

Valuation 3.5 billion yen

Outside

shareholders

ZUU, Morningstar, Sumitomo Mitsui

Trust Bank, Hakuhodo DY Ventures,

Dip Corp.

Milize developed a model that predicts, with a machine learning model, the

expected value that can be collected when collection action is taken in each

channel for each delinquent debtor.

Following the revision of the Consumer Protection Law in Thailand at the end

of November 2019, the reminders to debtors are limited to once a day. Thai

financial institutions will be able to quantitatively determine the optimal

collection action regarding “when” to collect from “which delinquent

debtor” and “on which channel.”

Provides debt collection services for Thai financial

institutions that have many needs for personal card loans

and consumer loans such as for cars and motorbikes.

Core banking

system

Debtor

allocation

system

Data

warehouse

Prioritized debtor

allocationDebt

collection

system

Input

data

Result output (collection

priority ranking)

AI model

Priority ranking created by AI model

Customer A

Customer B

Customer C

Customer D

Customer E

Customer F

Priority [5]

Priority [4]

Priority [6]

Priority [2]

Priority [3]

Priority [1]

Collection agent 1

Collection agent 2

Collection agent 3

19Agenda


in Japan




5. Appendix

20Japanese Startups in Southeast Asia –Businesses Started locally–


Classification

Company Domain Business Description Countries Established Valuation(100M yen)

Bu

sin

es

se

s s

tart

ed

by J

ap

an

ese

en

tre

pre

ne

urs

in o

the

r c

ou

ntr

ies

SYNQA

(formerly

OmiseHD)

Expansion of

e-commerce

given the

coronavirus

Online payment and wallet services

HP：https://www.synqa.co/

Thailand,

Singapore,

etc.

June

2013

Not

Disclosed

AnyMind

Group

Expansion of

e-commerce

given the

coronavirus

E-commerce setup and marketing support

HP：https://anymindgroup.com/ja/

Singapore,

Vietnam,

Philippines,

etc.

January

2018

Not

Disclosed

VENTENY Financial

inclusion

Lending services for employees

HP：https://www.venteny.com/

PhilippinesFebruary

2015

Not

Disclosed

(case study)

Introducing AnyMind Group, which is expected to contribute to solving the problem of “expansion of

e-commerce to cope with the fact that the Philippines is a multi-island nation and the

coronavirus” in the Philippines from startups launched by Japanese entrepreneurs in Southeast Asia

21Businesses Started By Japanese Entrepreneurs locally : AnyMind Group


AnyMind Group provides software and services that provide one-stop support for production, e-

commerce setup, marketing, and logistics for individuals including influencers and creators as well as

media and brand companies at 17 bases in 13 markets around the world.

It is expected that the e-commerce setup service provided by the company will contribute to solving the

problem of “expansion of e-commerce to cope with the fact that the Philippines is a multi-island nation

and the coronavirus" in the Philippines.

Company AnyMind Group Limited

HQ Singapore

Established January 2018

Head Kosuke Sogo

Business

Provides a one-stop platform in Asian

countries for support in production, e-

commerce setup, marketing, and logistics

for individuals including influencers and

creators as well as media and brand

companies

Valuation Not Disclosed

Outside

Shareholders

Sparx Group, Japan Post Capital, KSK

Angel Fund LLC, VGI Global Media, Tokyo

Century

AnyFactory: Networks with more than 200 production factories in Asian

countries, matching the best factories to meet customers’ needs

AnyShop: Handles setup and operation of companies’ own e-commerce sites,

operation of local e-commerce malls in various countries including cross-

border development, and integration with payment services

AnyManager: Provides solutions such as EC/D2C brand website applications,

access analysis, site speed acceleration, push notifications, etc.

AnyLogi: Provides integrated management functions for shipping, delivery,

warehousing, storage, and products by utilizing a logistics management

platform.

AnyTag / AnyDigital: Provides influencer marketing utilizing data, operation

of SNS accounts, and WEB/apps/SNS advertisements.

Established a local

subsidiary in Manila,

Philippines, in 2018

22Japanese Startups in Southeast Asia -Developed from Japan- 1/2


Classification Company Domain Business Description Countries EstablishedValuation

(100M yen)

Bu

sin

ess d

evelo

pm

en

t fr

om

Jap

an

Sun Asterisk


DX support/offshore development

Working on IT human resource development in collaboration with Hanoi University of Science and Technology, Vietnam National University, and Da Nang University of Technology in Vietnam

HP：https://www.venteny.com

Vietnam,

Philippines,

Cambodia

March

2013

780Mothers

Cinnamon Inc.


DX support such as AI OCR

AI OCR's Flax Scanner, which reads documents like a human, is an artificial intelligence engine developed independently

Has 100 persons enrolled in AI human resources in Vietnam

HP：https://cinnamon.is/

Vietnam,

Taiwan

October

201687

Challenergy Inc.

Expects to reduce manufacturingcosts by improving infrastructure

Development of next-generation wind turbine

Power can be generated even in a severe typhoon

Demonstration test in Batanes, the northernmost part of the Philippines

HP：https://challenergy.com

PhilippinesOctober

201474

There are many Japanese startups operating in Southeast Asia.

23Japanese Startups in Southeast Asia -Developed from Japan- 2/2


Classification Company Domain Business Description Countries Established

Valuation(100M yen)

Bu

sin

es

s d

eve

lop

me

nt

fro

m J

ap

an

Gojo &

Company

Financial

inclusion

Microfinance

Microfinance operator. Business development in 4 countries: India, Cambodia, Sri Lanka and Myanmar

HP：https://gojo.co/landing-page-jp

India,

Cambodia,

Sri Lanka,

Myanmar

July

2014418

Global

Mobility

Service

Financial

inclusion

Auto loans

A service that makes visible the creditworthiness of a driver and enables even users who do not pass a conventional credit screening to take out a loan

Expanding business mainly in the Philippines

HP：https://www.global-mobility-service.com

Philippines,

Indonesia,

Cambodia,

etc.

Novem

ber

2013

473

Giftee

Expansion of

e-commerce

given the

coronavirus

Online gifts

Developed an “e-gift platform business” that provides everything from e-gift ticketing to distribution and sales

HP：https://giftee.com

Malaysia,

Vietnam

August

2010

812First

Section of the Tokyo

Stock Exchange

24Agenda


in Japan




5. Appendix

25Mizuho’s Initiatives to Support Startups

Innovative Company Coverage

Large Company Coverage

Ecosystem Creation

• Startup companies: 4,000 + α (including the Next

Unicorn)

• Listed growth companies: 600 companies + α

• Overseas startup companies (Shenzhen, other

locations in China, US, India, etc.)

• Large companies/open innovation partners: 200+ α

• Venture capital

• Operation of accelerated membership services

called “M’s Salon”

• Operation of the Mizuho Innovation Platform

• Many other supporters

Mizuho is committed to supporting and bolstering companies and ecosystems from its inner

position in the innovation industry.

Innovative

company

Large

companiesEcosystem VC

*Innovative companies: Venture companies that take on the challenge of innovative businesses, such as providing services that

make use of advanced technology

26About the Startup Membership Organization “M’s Salon”

M’s Salon is an accelerated membership service that supports innovative companies that take on

the challenge of creating the future.

Innovative company members: Over 3,400

Number of annual events: Over 35

Ecosystem

supporter

Innovative

company

Business development

Mentors

Seminars

Funding

Currently, many events are held online!

2019 X-Tech Pitch

2020 M’s Acceleration College

(held online)

27Mizuho’s Global Support InitiativesMizuho supports startups’ overseas business development by offering optimal solutions and

accurate consulting, ranging from provision of information regarding overseas business to

business matching, funding, and business strategy support.

Funding SupportBusiness DevelopmentEstablishment Support

Overseas-related Surveys

Support for Global Deployment of Startups

Topics

In July 2018, Mizuho started the

“China‘s Silicon Valley Project” in

Shenzhen. In July of the following year,

Mizuho established the Innovative

Startups Coordination Department in

Shanghai, and in October, the

accelerated program Mizuho Crowd

Brain was launched in Hong Kong.

Mizuho Bank (China) Mizuho Bank

Innovative Startups Coordination Dept.

Global Strategic Advisory Dept.

Asia & Oceania Corporate Banking Dept.

China Business Promotion Dept.

Industry Research Dept.

Corporate Business Dept. /

International Business Promotion Office

Innovative Startups Coordination Dept. (China)

Advisory Dept. (China)

Hong Kong Corporate Banking Dept. #1

China and ASEAN Research Advisory Section

Covering ; Singapore, Malaysia, Indonesia,

Thailand, The Philippines, etc.

outbound inbound

Middle

East India

Europe

Asia/

Oceania

Taiwan

ChinaS.

KoreaNorth

AmericaJapan

Investment

Invest

ment

Invest

ment

Group Companies

Mizuho Securities

Mizuho Research & Technologies

28Agenda





5. Appendix

29

Due to the impact of the coronavirus, the supply of risk money mainly at business

corporations declined in the first half of 2020. As a result, the number of funds established

was lower than in the previous fiscal year on an annual basis.

Trends in VC Fund Establishment in Japan


-Number of Funds Established and Total Amount-

-Trends in the Number of Funds Established by Size-2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

1B yen or less 12 7 10 20 25 18 30 34 28 21

1B – 5B yen 6 8 13 13 17 15 18 17 28 24

Over 5B yen 6 2 11 13 15 19 13 22 25 17

Unknown 1 0 3 4 10 20 8 13 22 10

(JPY 100 million) Fund total [left axis] Number established (including those with unknown funds)

[right axis]

(Number of

funds)

30Mizuho’s Equity Support for Startups (THE FUND)

In 2019, Mizuho established a growth fund together with Signifiant Co., Ltd. (co-head:

Yusuke Asakura). It is called The Fund, and it supports growth-stage startup companies

with hands-on assistance (practical growth support based on experience).

Targeting Japanese growth-stage startups, the basic policy is to invest around 2 to 4

billion yen (minimum 1 billion yen, in principle).

THE FUND Overview

Official

name

THE FUND

Limited Partnership

Management

companies

Signifiant (66.66%)

Mizuho Capital (33.34%)

Fund total 20 billion yen

LP

investorMizuho Bank

Investmen

ts

Securities issued by growth

companies

Date

establishedJune 26, 2019

-Investment destinations-

Development and sales

of the online sales system “bellFace”

Provision of the cloud personnel and labor

software “SmartHR”

Diagram

Company value

Com

pa

nie

s

esta

blis

hed

Mizuho Capital

Mizuho Growth Support Fund Nos. 1-3, etc.

Domains handledGrowth domain support

Providing large-scale funds and

management knowledge for

business growth

Seed Early Middle Later Sto

ck lis

tin

g

After stock listing

31Mizuho’s Achievements in Support for Startups

Number of Investments by Japanese Startup

Investors in 2020

Company Investor Type

Number

of

Investm

ents

Mizuho Capital Financial VC 49

Mitsubishi UFJ Capital Financial VC 45

SMBC Venture Capital Financial VC 42

Future Venture Capital Independent VC 33

East Ventures Independent VC 32

ANRI Independent VC 29

Global Brain Independent VC 26

Monex Ventures Financial VC 25

Mitsui Sumitomo Insurance

Venture CapitalCVC 23

SBI Investment Financial VC 22

2020 IPO Lead Underwriter League Table

Lead Underwriter 2019 2020

Nomura Securities 17 22

Mizuho Securities 12 21

SBI Securities 6 14

SMBC Nikko Securities 20 14

Daiwa Securities 19 12

Ichiyoshi Securities 1 5

Mitsubishi UFJ Morgan Stanley

Securities4 2

Okasan Securities - 1

H.S. Securities 2 1

Tokai Tokyo Securities 4 1

Source: Prepared by Mizuho Bank based on FORSTARTUPS DB and TOKYO IPO.

32M’s Salon-related Events (1)

M‘s Salon Connect

X Tech Pitch

Pitches are made by promising innovative

companies with new technologies and

business models to existing large industrial

companies, under the theme of existing

industry x Tech

Held eight times in 2020, with the participation

of 49 innovative companies and 391 large

companies

Retail, media, logistics, construction,

stores, hotels, entertainment, DX,

SDGs, etc.

Matches innovative companies with large

companies, focused on support companies

Provides opportunities for expanding sales

channels and business partnerships through

business negotiations

Previous Event: November 26 (Thursday) -27 (Friday), 2020

Held online

Number of business negotiations: 1,066

Innovative companies: 332

Large companies: 161

Past event themes

Screenshot of the online event

33M’s Salon-related Events (2)

Fintech Seminar

A pitching event by Fintech companies

for regional banks and securities

companies

Given the diversification of needs of

financial institutions, companies from

fields other than Fintech that may

collaborate are also featured

Offers strong support for business

collaboration between innovative

companies and financial institutions

Screenshot of the online event

VC Matching

A pitching event that matches close-

knit venture capital and innovative

companies

Provides opportunities for

presentations for multiple capitalists

and support for financing

In general, it is held once a month,

and about 5 to 6 companies are

featured each time

34

Presentation

Innovative companies with excellent

technologies and ideas receive the Mizuho

Innovation Award

About 10 companies are selected and

awarded every quarter

The award-winning companies are provided

with services that can deliver videos with

business introduction presentations to large

companies, including support companies

Award ceremony

M’s Salon-related Events (3)

Mizuho Innovation Awards

■Recently Awarded Companies

3Q FY2020 Industry 4Q FY2020 Industry

EDGEMATRIX Inc.

QD Laser Inc.

THECOO Inc.

Sitateru Inc.

Secure Inc.

Desamis Co., Ltd.

Flier Inc.

BabyJob Inc.

Unilabo Inc.

Rentio Inc.

AI

Healthcare

New marketing

Manufacturing Tech

AI/IoT

Agri Tech

Edtech

Childcare subscription

Backoffice Saas

EC

Adinte Co., Ltd.

Groovenauts, Inc.

XICA Co., Ltd.

Nosh Inc.

Nulab Inc.

Nota, Inc.

Vivid Garden Inc.

Flux Inc.

Ubie Inc.

Rapyuta Robotics Co., Ltd.

IoT

AI / quantum computers

MA tools

Foodtech

Horizontal SaaS

Horizontal SaaS

Agritech

AdTech

Healthcare

Robotics

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