Mizuho Financial Group Inc. (ADR) (NYSE:MFG) has been making some unorthodox moves, given the current market situation. The group has been hiring Japanese equities, even though the global markets are experiencing a slow down. On the other hand, the competitors of MFG have shrunk operations in Asia. The recent release of the 3Q2015 report from the company indicated a decline in profits, mainly attributed to a decline in the lending business. This coupled with a series of changes in upper management provide a mixed picture of the company.

In January 2016, the company identified that it was going to change its longstanding practice of allowing past leaders to elect the new CEO. Instead, a group of external directors would be appointed to decide on the matter. The change in the system was introduced, after it faced criticism for being unable to deliver proper transparency.

While it may seem like a rash decision at first, but the company’s decision to continue hiring top executives in Japan can be the right move for MFG. Not only would a change in governance ensure that there are no more internal factions, but would also provide the company with a unique opportunity to improve its business in the region, as competitors exit. Furthermore, the changes in top management is also due to a recent push by the Japanese PM, Shinzo Abe, for Japanese firms to adopt a more transparent system and listen to the shareholders.

However, the changes in higher management of the group is not only limited to the Japanese wing alone. The trend has also spread to the US, where MFG recently appointed several new top level executives. The new appointments have had several years of experience, in their respective positions and are expected to add more value to the company.

Mizuho Financial Group Inc. (ADR) (NYSE:MFG) closed at a share price of $2.94, after having a trade volume of 1.37 million and losing 1.34% of its share value.