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Mizuho Financial Group

Japanese megabank formed by merger of three major banks.

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Mizuho Financial Group

via Wikipedia: Mizuho Financial Group · see source

The group suffered a $7 billion loss from subprime mortgage-related collateralized debt obligations, making it the Asian bank most affected by that crisis.[1] In 2013, the group simplified its structure by merging Mizuho Bank and Mizuho Corporate Bank into a single entity named Mizuho Bank.[2] Mizuho was formed in 2000 under the name Mizuho Holdings, Inc., resulting from the combination of Dai-Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan, a consolidation that was initially revealed in 1999.[3] When it was first established, Mizuho held the position of the world's largest bank measured by assets.[4]

ATM in Mizuho bank
ATM in Mizuho bank. Image: Syced · CC0 · Wikimedia Commons

The three banks that preceded Mizuho each led their own corporate groupings: the DKB Group, the Fuyo Group, and the IBJ Group, and the Fuyo Group's origins go back to the former Yasuda zaibatsu.[5] During 2003, Mizuho Financial Group, Inc. assumed control of Mizuho Holdings' operations, and by 2005 all subsidiary companies had been placed under its direct authority.[6] Between 2005 and 2010, Mizuho Corporate Bank expanded its international presence by establishing twenty new offices, with a focus on China, the Americas, Europe, and the Middle East.[7] The purchase of the M&A advisory firm Greenhill & Co. was finalized by Mizuho in December 2023, with the goal of increasing its presence in the U.S. M&A market.[8]

Mizuho Bank HQ Building
Mizuho Bank HQ Building. Image: Rs1421 · CC BY-SA 3.0 · Wikimedia Commons

What the cited sources add

A 2013 Japan Times report noted that Mizuho Bank President Yasuhiro Sato told the Diet the bank had outstanding loans to yakuza and other antisocial elements, including loans made through its affiliate Orient Corp.[9] The same report stated that Finance Minister Taro Aso told a committee that banks could sell mob-linked loans to the government-backed Deposit Insurance Corporation of Japan, though at a huge discount.[9]

Mizuho Bank, Ltd. (head office)
Mizuho Bank, Ltd. (head office). Image: Lombroso · Public domain · Wikimedia Commons

References

  1. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: Flynn, "Mizuho $7 Billion Loss Turned on Toxic Aardvark Made in America", Bloomberg, 29 October 2008; Uranaka, "Mizuho agrees to buy WestLB Brazil unit for $380 million", Reuters, 20 June 2012 (original not read by us) en.wikipedia.org
  2. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: "Start of the New Mizuho Bank", Mizuho Financial Group, 2013-07-01 (original not read by us) en.wikipedia.org
  3. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: "A super-bank in the making", The Japan Times; "History of Mizuho", The Oriental Economist, 1966, p. 574; Newall, "Japan and the City of London", A&C Black, 17 December 2013; Peter Hoflich, "Asia's Banking CEOs: The Future of Finance in Asia", Wiley, 2008, p. 14 (we also read that source) en.wikipedia.org
  4. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: Litterick, "Nikkei at 16-year low", Telegraph.co.uk, 23 July 2001; Yuzo Yamaguchi & Mohammad Taqi, "Japanese megabanks retain top slots in ranking even as total assets drop", S&P Global; "The Top 100 Banks in the World 2016", Relbanks, 30 June 2016.; "Forbes The World’s Biggest Public Companies 2016 RANKING.", Forbes, May 2016. (we also read that source) en.wikipedia.org
  5. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: IR Presentation at “CLSA Japan Forum 2005” 7 March 2005 (original not read by us) en.wikipedia.org
  6. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: Padmalatha, "Management Of Banking And Financial Services, 2/E", Pearson Education India, 1 September 2011; Padmalatha, "Management Of Banking And Financial Services, 2/E", Pearson Education India, 1 September 2011; "Mizuho Financial Strategy Co., Ltd.: Private Company Information - Bloomberg", Bloomberg.com, 20 May 2023; Mover, "Mizuho: From Megabank To Global Financial Consultant", Seeking Alpha, 31 March 2017 (original not read by us) en.wikipedia.org
  7. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: "News Release(Former Mizuho Corporate Bank)", Mizuhobank.com (original not read by us) en.wikipedia.org
  8. Wikipedia, "Mizuho Financial Group" (CC BY-SA 4.0), which cites: Keohane, "Mizuho has ‘all the parts’ to become top 10 global investment bank, says CEO", Financial Times, September 9, 2025; Gillespie, "Mizuho Hiring Bankers for US Expansion After Greenhill Takeover", Bloomberg News, May 22, 2023 (original not read by us) en.wikipedia.org
  9. Otake, "Mizuho has more loans to the mob", The Japan Times, 13 November 2013. facts only, no text reused. japantimes.co.jp

Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article Mizuho Financial Group (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.

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