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Interim Report on the Progress of the FY2017 Action Plan Initiatives for the Fulfillment of Mizuho Real Estate Management Co., Ltd.’s Fiduciary Duties

—Commitment to Customer First (Client–oriented) Business Management—

As a member of the Mizuho Group, Mizuho Real Estate Management Co., Ltd. (MREM) has adopted “Mizuho’s Corporate Identity” established by Mizuho Financial Group, Inc. (MHFG), based on which all directors and employees share a common set of five central values—called the Mizuho Values—starting with putting customers first, and is committed to fulfilling fiduciary duties (Note 1) in providing the best, most appropriate solutions in response to customers’ diverse needs.

From the perspective of strengthening response to the fulfillment of fiduciary duties in asset management-related business, MREM has adopted the “Policies Regarding Mizuho’s Fiduciary Duties” (the “Policies”) established by MHFG and has established and made publicly available MREM’s action plans aimed at realizing the Policies (Note 2).

As described in the appendix, MREM publicly announces the interim progress of the FY2017 action plan initiatives, including the quantitative indicators (KPI) that were newly established for reviewing how customer-oriented business operations are implemented. Going forward, MREM will appropriately follow up on these, including the trend of KPI, in the PDCA cycle so as to utilize such to improve business management and will disclose the progress of action plan initiatives every fiscal year.

Note 1: Fiduciary duties is a general term for the broad range of various roles and responsibilities that fiduciaries are expected to fulfill when engaging in certain business activities in order to live up to the trust that is placed in them by their customers.
Note 2: Policy on Initiatives for Fulfillment of Fiduciary Duties

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