Mizuho CEO to Forgo Top Bank Industry Role After Glitches

Tatsufumi Sakai won’t be Japanese Bankers Association chairman
Mizuho to set up an independent panel to investigate glitches

Tatsufumi Sakai
Photographer: Kiyoshi Ota/Bloomberg

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By Taiga Uranaka and Yuki Hagiwara

March 17, 2021 at 9:42 AM UTC

Updated on

March 18, 2021 at 1:01 AM UTC

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Mizuho Financial Group Inc.’s chief executive said he will refrain from taking a key bank industry advocacy role next month as he focuses on addressing a series of system glitches at Japan’s third-largest lender.

CEO Tatsufumi Sakai won’t become chairman of the Japanese Bankers Association on April 1 as earlier planned, he said Wednesday in his first news briefing since the outages emerged last month. The position is normally rotated annually among the nation’s three biggest banks.