Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

We will now start the investor presentation for fiscal year 24, first half for Mizuho Financial Group. Thank you very much for joining us in spite of your busy schedules today. I'll be serving as the moderator. My name is Orita of IR Group. The English line is held in webinar format. Before we begin, let me introduce the speakers for the presentation and Q&A. To your left, President and Group CEO, Mr. Kihara. Senior Executive Officer and Group CFO, Mr. Yonezawa. Disclaimers before we begin. The presentation contains forward-looking statements based on current outlook of the future. These statements are subject to risks and uncertainties. Please be aware that actual results may materially differ. Let me explain today's proceedings. Group CEO Kihara will give a presentation following the investor presentation for FY24 first half document for about 30 minutes covering earnings and strategy. After which, Mr. Kihara will be joined by Group CFO Mr. Yonezawa for Q&A for about one hour. Thank you, ladies and gentlemen, for joining us today. Allow me to start my presentation. The cover page, I think you are familiar with this. If you could please move on to page three. We have just completed the first half of the medium-term business plan. In terms of financials, the final target for FY25 was exceeded ahead of time. And strategy, we said that we are focusing on sustainable growth, five areas, and we're making growth investment in five areas, Green Hill, Rakuten, and Golov Capital and Rakuten, a car that we announced the other day. The environment surrounding us is difficult, so we need to strengthen our infrastructure and raise efficiencies. In terms of cost reduction, that is important. So products and services need to be reinvented. That is what we're continuing. And system...