Japan’s FSA May Issue Order on Mizuho This Week, Nikkei Reports
A branch of Mizuho Bank Ltd., a unit of Mizuho Financial Group Inc. (MHFG), in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s Financial Services Agency may issue a business improvement order to Mizuho Financial Group as soon as this week, following multiple system failures that it said hurt public confidence, the Nikkei newspaper said Sunday.
The group’s chairman, Yasuhiro Sato, will also step down next spring, the paper reported. His resignation will add to those by the group’s chief executive officer, Tatsufumi Sakai, and Mizuho Bank CEO Koji Fujiwara.