INTERVIEW: Mizuho Securities to Focus on Wealthy Clients, Firms

Tokyo, Sept. 30 (Jiji Press)–Mizuho Securities Co. plans to reorganize and expand its workforce to strengthen sales efforts aimed at wealthy individuals and corporate clients, President Yoshiro Hamamoto has said. The brokerage’s retail and business banking division posted net operating revenue of about 141.2 billion yen in the fiscal year ended in March. Hamamoto said in a recent interview that he will seek to increase the revenue by around 1.7-fold. “If it increases by some 100 billion yen, it’ll be a different playing field.” Starting in October, Mizuho Securities plans to transfer about 50 employees from non-sales divisions and branches to sales departments at its Tokyo head office as well as its Nagoya and Osaka offices every six months. “We hope to achieve results by developing appropriate human resources and sharing know-how within the company,” Hamamoto said. The company has been consolidating its branch network, reducing the number of branches from 102 at the end of fiscal 2022 to 86 at the end of fiscal 2024. “Further consolidation may occur,” the president said. He also said that Mizuho Securities will seek to provide “simple, smart and swift asset management services” to general retail customers, indicating that the company will enhance call center operations and strengthen cooperation with Rakuten Securities Inc. Mizuho Securities will also continue implementing measures to prevent hackers from accessing securities accounts illegally. The company plans to introduce a biometric identity verification system this autumn. END [Copyright The Jiji Press, Ltd.]