#Japan #Shibuya #Mizuho Bank #Kokonala #UPSIDER BANK

Mizuho's Strategic Partnership with Kokonala

Mizuho Bank has recently launched a new comprehensive banking service for corporations named UPSIDER BANK by MIZUHO, aimed explicitly at addressing pressing business challenges. One key aspect of this initiative focuses on solving the acute issue of labor shortages plaguing many enterprises today. Mizuho has selected its subsidiary, Kokonala, as a strategic partner to tackle this significant challenge.

Strengthening Collaboration

Starting from today, Mizuho Bank will enhance its collaboration with Kokonala from mere referrals to a more robust mediation approach. Previously, Mizuho only provided clients with introductions to skilled professionals offered by Kokonala. With this new format, Mizuho's representatives can now delve deeper into the various services Kokonala provides, broadening their outreach while maximizing transaction opportunities with numerous corporate clients.

Addressing Workforce Challenges

Labor shortages have emerged as one of the most serious managerial dilemmas for companies, impacting productivity improvement and digital transformation initiatives. The comprehensive financial services offered by Mizuho aim not only to provide essential banking functions, such as account management, payments, and accounting but also strive to address fundamental business challenges directly. Kokonala was selected as the partner to specifically manage workforce concerns, boasting one of the largest pools of registered professionals in the industry.

Key Points of the Enhanced Partnership

With this strengthened collaboration, Mizuho Bank will now be able to propose specialized talent tailored to the diverse needs of its corporate clients:

1. Integration into Corporate Financial Services: In the new UPSIDER BANK by MIZUHO service, Kokonala will handle the matching service that connects businesses with specialized professionals. Together with banking functions such as opening accounts and securing funding, Kokonala can leverage its network of over 1.4 million registered professionals to help mitigate labor shortages.

2. Transition from Referrals to Mediation: Mizuho aims to deepen its partnership with Kokonala through a significant change from simple referrals to mediation. While previously communicating only that Kokonala would introduce professionals, this shift allows a more detailed discussion of the various valuable services offered by Kokonala.

The Value Proposition of Kokonala

Kokonala provides an invaluable resource to businesses by facilitating collaborations with the right professionals while enhancing productivity and internal resource management. Here's what sets Kokonala apart:

• - Leading Talent Pool: With over 1.4 million registered professionals, Kokonala can connect businesses with specialists that meet their needs effectively.
• - Cost-Effective Solutions: Services can be tailored to match the company’s objectives and budgets, optimizing overall costs.
• - Dedicated Support: A dedicated account manager assists throughout the process, from understanding requirements to providing suitable talent and overseeing the initiation of work.

Businesses can choose from two service models: the Kokonala Agent, where a dedicated professional will assist you, or the Kokonala Skill Marketplace, empowering companies to search for and procure services independently. This flexibility caters to varying levels of operational proficiency and project size.

Implementation Success Stories

Several businesses have already benefitted from Kokonala's services without changing their existing business models:

• - Streamlining Operations: A company faced challenges maintaining timely data updates, requiring an efficient system. Using data entry services for 50 hours a month at a budget of 200,000 yen, they successfully automated routine tasks.
• - Simplifying Recruitment: To alleviate high workloads related to recruitment, a firm outsourced interview scheduling and outreach, achieving significant efficiency gains at a cost of 150,000 yen for 40 hours a month.
• - Leveraging AI Expertise: Companies requiring enhanced quality and responsiveness for their social media outlets turned to Kokonala for banner and video content production, significantly cutting internal workload and improving speed to market at a cost of 145,000 yen for 40 hours a month.

Future Outlook

Both Mizuho and Kokonala are committed to providing an environment where businesses can secure the right talent at the right time and at optimal costs through this service. An ongoing collaboration with the Mizuho Group will further enrich their offerings.

About Kokonala

Kokonala was established as a joint venture between Kokonala Co., Ltd. and Blue Lab No.1 Investment Limited Partnership, backed by Mizuho Bank. It provides a talent utilization platform tailored to the needs of Mizuho's customer base.
Headquarters: Shibuya, Tokyo
CEO: Ayumu Suzuki (TSE Growth: 4176)
Website: coconala.co.jp

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