Mizuho Set to Deploy Billions of Dollars for Riskier Finance
- CEO expects corporate clients to bolster capital amid pandemic
- Japan faces worse slump than during Lehman shock, Sakai says
Photographer: Tomohiro Ohsumi/Bloomberg
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Mizuho Financial Group Inc. is ready to deploy “several billion dollars” in riskier funding to companies that need more capital to cope with the fallout from the coronavirus outbreak, its chief executive said.
Japan’s third-largest bank is in talks with corporate clients to provide financing via subordinated loans and purchases of preferred shares totaling more than 100 billion yen ($930 million), and is prepared to supply several times more, Chief Executive Officer Tatsufumi Sakai said.