Mizuho Financial Group recently launched a program to increase the number of women in management positions by connecting female employees with board members, as the major Japanese lender seeks to update its services by diversifying its male-dominated management.

The plan is aimed at addressing the dearth of women in leadership positions stemming from factors including the lack of role models and opportunities for female employees.

Of the 5,336 managers at the parent company and its units — Mizuho Bank, Mizuho Trust & Banking and Mizuho Securities — only 412, or 7.7%, were women as of July.