The Financial Services Agency has a policy of requesting Mizuho Financial Group and others to make final adjustments in the direction of issuing business improvement orders and clarify management responsibilities for successive system failures.



In response to this, Mizuho will consider management responsibilities, including the advancement and retreat of President Tatsufumi Sakai, at the nominating committee that decides the personnel of officers.

Mizuho Bank suffered a total of eight system failures from February to September, and the first failure in February made it impossible to remove cash cards and passbooks from ATMs, and in August, the group's trust banks also failed. In total, about 520 stores nationwide were temporarily unable to make transactions such as transfers and deposits at the counter.



In September, the Financial Services Agency issued a business improvement order focusing on preventing recurrence of a series of system failures, while continuing inspections on the Mizuho side to investigate the root cause.



As a result, the Financial Services Agency notified Mizuho Financial Group and its affiliated Mizuho Bank of the test results next week, and then made final adjustments to issue a business improvement order, according to people familiar with the matter.



Mizuho received a business improvement order regarding system failures in 2002 and 2011, and this is the fourth time since September.



The Financial Services Agency considers that the management responsibility of Mizuho Financial Group President Tatsufumi Sakai is heavy due to the repeated system failures, and is requesting that the responsibility be clarified.



In response to this, Mizuho will consist of outside directors, and the nominating committee that decides the personnel of officers will consider management responsibilities, including the advancement and retreat of President Sakai and others.