Mizuho Financial Group, which has suffered a series of system failures, is making final adjustments so that Chairman Yasuhiro Sato will retire in March next year.

At Mizuho, ​​the president of the group and the president of the bank are expected to resign in order to clarify their management responsibilities, and the management system will be renewed.

The Financial Services Agency plans to issue a business improvement order to Mizuho Financial Group and its affiliated Mizuho Bank on the 26th to clarify management responsibilities over the successive system failures at Mizuho Bank.

Taking this situation seriously, Mizuho is planning to resign from the president of the holding company Tatsufumi Sakai, the president of Mizuho Bank, Koji Fujiwara, and CIO Ishii, who is in charge of the group's system.

In addition, the Nominating Committee, which consists of outside directors and decides on the appointment of officers, is making final adjustments to retire in March of next year at the end of this fiscal year without requesting the reappointment of Chairman Yasuhiro Sato of the group.

Following a series of system failures, Mizuho's management system will be renewed.