A Message from the President & CEO of Mizuho Corporate Bank, Ltd.

I would like to start my message with my deepest thanks to the international community, including our customers and relevant parties, for the support, assistance and warm encouraging messages following the Great East Japan Earthquake in March 2011.

I would also like to take this opportunity to reiterate our deepest and sincerest apologies to all of our customers, our shareholders and to everyone who has experienced any inconvenience caused by the recent computer system failures of Mizuho Bank. With a strong resolution to prevent its recurrence, we will focus all of our energy to restore customer confidence.

Under Mizuho's Transformation Program, Mizuho Corporate Bank is collaborating with Mizuho's group companies to strengthen and combine commercial banking and traditional investment banking, including M&A, advisory services, and the underwriting of bonds and equities, as well as sales and trading activities. This is enabling us to take our place as a "top corporate finance provider" and offer optimal global financial solutions that meet the needs of our customers in Japan and overseas.

Also, in order to seamlessly integrate banking and securities business by turning Mizuho Securities into our wholly-owned subsidiary, we will further promote the formulation of the global strategy for securities transactions and the improvement of the operation system. Moreover, as we have decided that we will further strengthen the unified management of the group and thereby substantively transform Mizuho into "one bank" with a view towards integration by merger, etc. of our banking subsidiaries in the future, we will thoroughly implement rationalization of operational processing and IT systems. In addition, we will work toward unification of our front-line business areas, such as Customer Groups and Trading segment. Through these initiatives, we will focus our energy on being "customer-oriented" to strengthen Mizuho's advantage.

In Japan, due to the impact of the Great East Japan Earthquake, constraints to production activities and a sharp decline in personal consumption appear to be unavoidable, at least in the short term. Meanwhile, the global economy has been led by emerging countries, but the risk remains of a slowing in the economy due to factors including the rise in commodity prices and the fiscal problems affecting certain countries in Europe. We aim to build a "leading presence as a financial institution in Asia" that wins the trust and strong support of our customers and the market by performing a bridging role between Japan and the rest of Asia, as well as a role linking Asia to the Americas and Europe.

Our overseas strategy is to fully utilize our overseas network, which comprises 68 offices located in 30 countries and regions, to meet the needs not only of Japanese corporations but also non-Japanese companies in a timely manner. Especially in Asia, we now have 33 offices outside Japan and we will continue to strengthen our network in the years ahead.

Among other services, in the asset management business, in addition to acquiring Eurekahedge, a company providing hedge fund research and data services in March 2011, we are working to strengthen our sales and trading business as well as transaction business.

In addition to these activities, we have positioned drawing aggressively on our financial intermediary functions, developing stronger and more reliable risk management and compliance systems as high priority management issues. We are focusing on substantially upgrading the sophistication of these capabilities going forward.

We will work to identify the various structural changes taking place, and, by mobilizing our knowledge and understanding of industries and all our capabilities, we aim to be the financial institution as the "best possible partner" to work with our customers in implementing their strategies. We will also work to contribute aggressively to the creation of new industrial structures, not to speak of Japan's recovery from the Great East Japan Earthquake, and fulfill our social mission as a supplier of global industrial finance to facilitate the development of corporations and industries.