Regarding the computer system failures
Causes and Plans for Improvements and Counter-Measures based on the Computer System Failures
In connection with these computer system failures, our group has been undertaking an investigation of the causes and establishing preventive measures. Along with an on-site inspection by the Financial Services Agency, our "Special Investigation Committee on System Failures," an independent third-party committee, has been investigating the causes as well as evaluating and suggesting on the validity of the preventive measures.
Based on the above, we are announcing the following framework regarding improvements and counter-measures.
Actions to "Restore Customer Confidence"
Through the recent computer system failures that we experienced, we have become seriously aware that implementation of further proactive and self-disciplined transformation is necessary in order to become "the Most Trusted Financial Institution" which we have raised as Mizuho's future vision. Therefore, we have decided to substantively transform ourselves into "one bank" by accelerating the implementation of the Transformation Program which we announced in last May.
We are thoroughly implementing the "customer first policy" by encouraging officers and employees to change their mindset and restructuring the corporate culture, while thoroughly re-examining our management infrastructure. All officers and employees of our group will strive to restore the confidence of all of our customers as well as society as a whole.
