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Mizuho's corporate culture to blame for serial system failures, probe finds

18 Comments
By Takashi Umekawa

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18 Comments
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". . .corporate culture is to blame for. . . creating an atmosphere where managers are reluctant to express opinions and unable to respond well to crises, an investigation found."

This is the story of every Japanese company. Olympus, Nissan, Takata, Toshiba, Kobe Steel. . .

7 ( +9 / -2 )

This story is so true based on experience. Mine.

3 ( +5 / -2 )

Duh...this is Japan, and not specific to Mizuho. This mentality permeates the government as well, that's why we're in this mess with the games. Risk assessment, risk management, decisive action are all words from outer space, it's not in the vocab.

4 ( +6 / -2 )

plans to recruit executives from tech companies to improve know-how.

Well you could go in there and try your best, but I suspect it’d be like trying to turn around an oil tanker in the Suez Canal.

Doubt Mizuho will be able to attract talent from more enjoyable pastures.

4 ( +6 / -2 )

ahhh Japan. lets us watch as it spins into third world status.

2 ( +3 / -1 )

So, once more company culture is the problem, but no solution in sight, in a couple of years another thing will go wrong again and after an investigation the results will still be the same.

0 ( +2 / -2 )

This isn’t limited to Mizuho. Even the large scale IT companies have similar culture and I don’t think it will change. The urge of controlling people by those who make into management layer after years of brown nosing is just too strong to stonewall any progress.

3 ( +4 / -1 )

Not surprising.

ahhh Japan. lets us watch as it spins into third world status.

It's already one.

0 ( +1 / -1 )

Mizuho's corporate culture to blame for serial system failures

Reminiscent of that old Monty Python sketch, Dead Bishop. When the murderer is exposed he says, "It's a fair cop, but society is to blame." "We'll be charging them later," says the detective parson.

Except that in Japan no-one is charged (unless they're boat-rockers or furriners) and nothing changes, not least the corporate culture.

-2 ( +0 / -2 )

Nothing will change. In Japan, you never want to speak up and request for any change. Promotions is based on not making mistakes, not doing stuff. Every time you do something, you are risking your career, so why would anyone intelligent ever speak up?

When you go to work in JP company, best just turn off your brain, as long as you do not make mistakes, then you get your promotion as you age. A single mistake likely means that you would be blacklisted and can never recover.

4 ( +5 / -1 )

I can recall a story from last year about a guy that lost his job because he showed his knees in a Zoom meeting. Another guy was fired because he lied on his resume about being less educated. No wonder people don't speak up in Japan.

4 ( +6 / -2 )

Stop blaming, start working. This is the sickness in all too old.Japanese systems.

-1 ( +1 / -2 )

Japanese companies believe risk management is part of checklist management.

-1 ( +0 / -1 )

It's THE Japanese culture.

Notice something wrong ? never bring it, or you'll be target of unofficial bullying.

Are you being bullied ? never bring it, because you've just broken the image of peaceful and beautiful Japan, now you've just painted a target on your face, you're officially a bullying target!

Did you just commit suicide ? LOL, what a weak person, you deserve it, because you don't play well with people, and you didn't know the rules of engagement in this peaceful & beautiful society.

0 ( +2 / -2 )

for its long history of tech system failures

Ah, Mizuho. This was the first institution where I performed penetration testing and general security with our company. Their management at that time was not concerned about computers, computer technology and network security. Completely oblivious people there. Security incident response? Well, only if it is during working hours. Otherwise it has to wait. Call supervisor or even the branch boss about IT incident outside of working hours? Try it and you may get fired. But I have to admit that their IT manager we worked with was an absolutely great bloke. He studied in Canada, I think, and maybe that's why he had a slightly different mind set than most of his superiors and subordinates. But they were insanely underfunded in terms of IT and IT security. After my experience with them and the outcome of the whole collaboration, I vowed at the time that I never wanted to deposit my money with this institution or its subsidiaries. Because it's only a matter of time before I lose it due to their incompetence and lack of security.

When it comes to Japan and financial institutions of any kind, it's like 1800s or early 1900s. They are just stuck in that era. Want to send money on Friday, 23:00 from one bank to another, or even to the same bank? Well, tough luck, it'll happen on Monday. But only if it's not a public holiday, New Year, etc. In such case, it'll happen the next day. It's like if there was a real person in the bank, who took your money, went into the bank you are sending the money to and physicaly deposit them there. But on the way, stopping at nearest konbini for a coffee, because つかれた. After comming back to his branch, everyone would give him a shoulder pat with 大変お疲れ様でした.

Anything is better than Mizuho. I would rather send money to a Nigerian prince who contacts me from time to time. Because I can trust a prince more than Mizuho.

1 ( +3 / -2 )

It bewilders me that the Japanese simply allow this "culture" of work and politics to continue for so long, despite it having failed them for the past 30 years. How many more corporate bankruptcies are needed for the Japanese to realise that they are doing something wrong? How much more economic malaise, worsening child poverty, corruption, declining wages and poor quality of life is needed for the Japanese to realise that maybe, just maybe they need to do something different?

1 ( +2 / -1 )

When you go to work in JP company, best just turn off your brain, as long as you do not make mistakes, then you get your promotion as you age.

I guess this your statement pertains to Japanese and not foreigners because if you are a foreigner you will age without getting any promotion and if you did manage to get one it won't be in a position that you could make decisions and exercise influence.

1 ( +1 / -0 )

Best course of action for a foreigner planning to move to Japan is a self-employment profession, or starting a business. Working for a foreign company's Japanese branch like Microsoft or Google, that is foreinger friendly and does not subscribe to Japan's archaic work culture is also fine.

0 ( +0 / -0 )

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