Mizuho Financial Group, which received a business improvement order over a series of system failures, will submit a business improvement plan that includes measures to prevent recurrence by January next year.
Since the order severely points out issues of corporate governance such as the function of the board of directors and issues of corporate culture such as lack of sensitivity to the impact on customers, the issue is whether to thoroughly prevent recurrence.
The Financial Services Agency has issued a business improvement order to Mizuho Financial Group and its affiliated Mizuho Bank to clarify management responsibilities over the successive system failures at Mizuho Bank.
In response to this, at Mizuho, Tatsufumi Sakai, president of the group, and Koji Fujiwara, president of the bank, took responsibility and resigned in April next year, and by January 17, next year, business improvement incorporating new recurrence prevention measures. Submit the plan.
The order severely points out issues of corporate governance, such as the functioning of the board of directors, which failed to prevent a series of system failures.
Furthermore, as a cause of a series of failures, problems of corporate culture such as disregard for the site of systems and sales and lack of sensitivity of impact on customers have been severely pointed out.
Mizuho has a policy of compiling recurrence prevention measures with an emphasis on these points, and at the press conference on the 26th, President Sakai of the group said, "We will once again be aware of our role as a financial institution and strive to prevent recurrence, and will surely take root in the organization. I need to let you go. "
However, since it is pointed out that the order does not continue efforts based on the lessons learned from past disabilities and that the self-cleaning function is not functioning, the issue is whether appropriate measures can be taken to prevent recurrence.