Mizuho Financial : Human Rights Report 2023

Message from the Group CEO

Mizuho revised our Corporate Identity in May 2023. The new Corporate Philosophy is based on the enduring goal of Mizuho's founders: serving the public interest and pursuing prosperity of our clients, the economy and society. We believe that respect for human rights is an essential for achieving this goal. The impact on human rights through companies' business activities have become extremely complex, due to qualitative change of globalism, the emergence of environmental and social issues, and social transformation accompanying rapid technological

developments. With such changes, human rights due diligence has become even more

important to prevent negative human rights risks and mitigate its impacts.

In carrying out our human rights due diligence based on the revised Human Rights Policy, we have revisit the risk characteristics, the pathway of risk detection and the range of human rights issues spreading across our business. We then further identified the items to be improved in

order to increase effectiveness of our actions and take appropriate measures depending on the

level of risk.

Further, we actively engage with our clients, suppliers, investors and human rights experts and try to enhance our understanding of their policies, practices and expectations. Through this process, we recognized the mutual understanding and co-working with various stakeholders is important to respond to human rights

issues.

In light of our recognition of these challenges and stakeholder perceptions, we will continue to enhance the literacy and ability to take responsive actions of our officers and employees with regards to human rights. And also, we will strengthen various initiatives as we go forward. We will continue to engage in dialogue and collaboration with our stakeholders and contribute to building a better society in which human rights are fully respected.

Masahiro Kihara President & Group CEO Mizuho Financial Group, Inc.

Table of contents

Introduction

Overview of the Mizuho Group	P.4
Our Initiatives So Far	P.5
Main Areas of Progress since FY2022	P.6

Mizuho's Policy on Respect for Human Rights

Policies and Rules on Respect for Human Rights	P.7
Human Rights Policy	P.8
Relationship between the Policy and International Standards	P.12
Human Rights Policy Development Process	P.13

Major Human Rights Issues

Identifying and Assessing Human Rights Issues	P.14
Chart for Evaluating Human Rights Issues	P.15

Promoting the Respect for Human Rights

System for Promoting Respect for Human Rights	P.16
Materiality	P.18

Human Rights Due Diligence and Stakeholder Communication

Human Rights Due Diligence Approach	P.19
Responsible Financing and Investment	P.20
Measures in the Provision of Financial Services	P.27
Responsible Procurement	P.29
Efforts to Respect Human Rights of Employees	P.30
Human Rights Awareness Promotion	P.32
Stakeholder Communication	P.33
Grievance Mechanism
Receiving and Responding to Feedbacks / Complaints	P.34
Internal Reporting / Consultation Systems	P.35
Conclusion
Activities and Enhancements since FY2022	P.36
Future Prospects	P.37
Appendix
Comparison Table of the UN Guiding Principles Reporting Framework	P.38
Environmental and Social Management Policy for Financing and Investment Activity	P.39
Procurement Policy	P.44
Anti-Slavery Statements	P.45	3

Introduction

Policies

Major human rights issues

Promoting respect for

Human rights due

Grievance mechanism

Conclusion

human rights

diligence

Overview of the Mizuho Group

Mizuho's business domains include banking, trust banking, securities, asset management, research and consulting, and other services. We have established five in-house companies, which determine and promote group-wide strategies across banking, trust banking, securities, and other business areas according to customer segment, as well as two units that support all of the in-house companies. By leveraging these strengths, we will promptly provide clients with services that match their needs.

Mizuho Financial Group

Banking		Trust
（BK）		（TB）

In-house Companies

Retail & Business Banking

Corporate & Investment Banking

Securities		Other
（SC）

Individual22M customers

Securities1.7M accounts

SME		94K
borrowers, etc.

Global Corporate & Investment Banking

Global Markets

Asset Management

Units

Global Transaction

Research & Consulting

Asset

Management

One

Mizuho

Research &

Technologies

Coverage of listed companies in Japan

Forbes Global 200

(Non-Japanese corporate

clients)*1

No. of offices

No. of employees

80%

90%

Japan：745

Outside Japan：110

（36 countries & regions）

64K

（As of March 2023, round figures）

*1 Top 200 corporations from Forbes Global 2000.	4

Introduction

Policies

Major human rights issues

Promoting respect for

Human rights due

Grievance mechanism

Conclusion

human rights

diligence

Our Initiatives So Far

• Established the Human Rights Policy
• Revised Mizuho Code of Conduct
• Established Policies for Specific Sectors

(Current: Environmental and Social Management Policy for Financing and Investment Activity)

• • Began engagement with clients based on the above policies
• Adopted Equator Principles

(Mizuho Bank)

• Singed PRI

(Asset Management One)

• Established the Environmental Policy
• Revised to the Environmental and Social Management Policy for Financing and Investment (Former: Policies for Specific Sectors)
• Set targets for sustainable finance
• Implemented the fourth revision of the Equator Principles (EP4) (Mizuho Bank)

• Revised the Corporate Identity
• Revised DEI Commitment (Former D&I Commitment)
• Introduced grievance mechanism operated by a third-party expert

2003

2006

2013

2016

2018

2019

2020

2021

2022

2023

Published D&I Statement	 Established the Procurement Policy
(Current: DEI Commitment)	 Joined the 30％ Club Japan

• Signed UN Global Compact
• Signed UNEP FI
• Signed PRI

(Mizuho Trust & Banking)

• Signed PRB (Principles for Responsible Banking)
• Designated key sustainability areas (materiality)
• Established the Basic Policy on Sustainability Initiatives

• Revised the Human Rights Policy
• Reinforced policies and operations in each business in light of the revised Human Rights Policy
• Revised D&I Commitment (Former: D&I Statement)

5