IPO Support

Capital policy refers a company's comprehensive strategy for all the accounting items listed under shareholders' equity. This policy is formulated with due consideration for maintaining a balance between fund-raising and the interest of shareholders. After considering the target date for listing and selecting the exchange on which shares will be listed, Mizuho Securities offers assistance in formulating capital policy taking account of such issues as satisfying the criteria for raising funds and listing shares, securing a stable shareholder base following listing, maintaining liquidity of the company's shares, and equity incentives for management.

For companies to maintain stable growth, they must have a long-term vision as well as medium- to long-term management plans and specific action plans for attaining their corporate vision. After listing their shares, companies must comply with financial instruments exchange regulations that require the periodic disclosure of the outlook for their performance and other matters. The outlook for performance is important because it forms the basis for investors to make judgments when they are considering buying and/or selling the company's stock. During the examination of the company prior to listing, various matters are scrutinized from the perspective of protecting investors, including whether management and operating plans have been systematically formulated, whether the basis for these plans are reasonable and whether these plans are attainable. Matters related to budgetary control during the preparation for listing are deemed extremely important. Through meticulous verification and specific advice, we provide full support in each process from formulation and monitoring of operating plans to crucial decisions on plan modifications.

Companies cannot attain growth just with promising ideas and products. They must have strong operating and financial systems and operate these systems efficiently by establishing a wide range of internal control systems. Listed companies must respond to the requirements and expectations of their stakeholders (shareholders, business partners, etc.) and must structure internal systems that prevent them from betraying the interests of society in general. In addition, companies are required to disclose their basic thinking and organization with respect to corporate governance (the framework and systems they employ for ensuring disciplined corporate behavior) in their annual Securities Report (Yuka Shoken Hokokusho) and submit their Corporate Governance Report to the financial instruments exchange. In order to establish an effective governance structure befitting listed companies, we work with clients to grasp their current governance status, devise plans for improvement and reinforcement, and provide support for implementation.

• Deals including Initial public offerings, Public offerings, Convertible bonds and REITs
• *April 1, 2011 to March 31, 2012; based on the date on which terms were decided
• *Source: Prepared by Mizuho Securities based on IN Information Center

<Euroweek Asia>
EUROWEEK ASIA AWARDS 2011

• MOST IMPRESSIVE ECM DEAL IN ASIA PACIFIC:Prada HK$16.7bn IPO
• MOST IMPRESSIVE ECM DEAL IN HONG KONG:Prada HK$16.7bn IPO

<EUROMONEY Japanese Edition>
Japan Deal of the Year 2010

• Best IPO Deal:Dai-ichi Life Insurance Company

<FinanceAsia>
Japan Achievement Awards 2010

• BEST IPO:Dai-ichi Life Insurance Company