Mizuho Financial Group

Overview

Mizuho Financial Group, Inc.

native name	株式会社みずほフィナンシャルグループ
native name lang	ja
romanized name	Kabushiki gaisha Mizuho Finansharu Gurūpu
type	Public
traded as	tyo: 8411 nyse: MFG Nikkei 225 component TOPIX Core 30 component
foundation	September 2000
predecessors	Dai-Ichi Kangyo Bank Fuji Bank Industrial Bank of Japan
hq location	Otemachi Tower
location city	Marunouchi, Chiyoda, Tokyo
location country	Japan
key people	Seiji Imai (chairman) Masahiro Kihara (president & CEO)
industry	Financial services
products	Asset management Banking Commodities Credit cards Equities trading Insurance Investment management Mortgage loans Private equity Wealth management
revenue	¥5.78 trillion
revenue year	2022
operating income	¥789.6 billion
income year	2022
net income	¥219.20 billion
net income year	2022
assets	¥254.26 trillion
assets year	2022
equity	¥8.47 trillion
equity year	2022
num employees	52,420 (March 2022)
subsid	Mizuho Bank Mizuho Trust & Banking Mizuho Securities
homepage	mizuhogroup.com
footnotes	‡R1R‡

The Mizuho Financial Group, Inc. (株式会社みずほフィナンシャルグループ), known from 2000 to 2003 as Mizuho Holdings and abbreviated as MHFG or simply Mizuho, is a Japanese banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The group was formed in 2000–2002 by merger of Dai-Ichi Kangyo Bank, Fuji Bank, and Industrial Bank of Japan. The name mizuho (瑞穂) literally means "abundant rice" in Japanese and "harvest" in the figurative sense.

Mizuho Financial Group is the parent holding of Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities, and Mizuho Capital, and the majority owner of Asset Management One. The group offers a range of financial services, including banking, securities, trust and asset management services, employing more than 59,000 people[2] throughout 880 offices.[3] It is listed on the

History

The history of the banks that formed Mizuho combines multiple threads of Japanese financial history, going back to the early Meiji era and particularly the establishment in 1873 of Dai-Ichi Bank, Japan's first modern bank and joint-stock company led by Shibusawa Eiichi, if not even earlier with the foundation of trading house Yasuda-ya in 1864. In addition to Dai-Ichi (whose name literally means "number one"), Mizuho also incorporates several of the subsequent National Banks in Meiji Japan which were numbered in accordance with their chronological date of establishment until 1880:

The group's predecessors also include Nippon Kangyo Bank (est. 1897) and Industrial Bank of Japan (est. 1902), two institutions founded as policy banks in the Meiji era and converted into commercial banks after World War II.

the 3rd National Bank, licensed in 1873 with a view to establish a bank in Osaka, then established in Tokyo in 1876 after the previous plan was shelved; merged 1923 with multiple other banks to form Yasuda Bank, which in 1948 was renamed Fuji Bank;

the 6th National Bank, est. 1877 in Fukushima, relocated 1892 to Tokyo, merged 1907 into the 9th Bank (below);

the 9th National Bank, est. 1877 in Kumamoto, absorbed the 6th Bank in 1907 and became the Higo Bank which in 1923 merged with the 3rd Bank and others to form the Yasuda Bank;

the 20th National Bank, est. 1877 in Tokyo, merged 1912 into Dai-Ichi Bank;

the 22nd National Bank, est. 1877 in Okayama, another participant in the 1923 merger that formed Yasuda Bank;

the 36th National bank, est. 1878 in Hachiōji, acquired 1942 by Nihon Chuya Bank which merged into Yasuda Bank in 1943;

the 40th National Bank, est. 1878 in Tatebayashi, merged 1918 with the 41st Bank to form Tokai Bank (namesake of but different from the later Tokai Bank) which itself merged into Dai-Ichi Bank in 1927;

the 41st National Bank, est. 1878 in Tochigi, merged 1918 with the 40th Bank;

the 44th National Bank, est. 1878 in Tokyo, merged 1882 into the 3rd National Bank;

the 58th National Bank, est. 1878 in Osaka, merged 1909 into the 130th Bank (see below);

the 64th National Bank, est. 1878 in Ōtsu, renamed Otsu Bank in 1898 and merged 1908 into Omi Bank which collapsed in 1928 and was absorbed by Showa Bank, itself merged 1944 into Yasuda Bank;

the 82nd National Bank, est. 1878 in Tottori, merged 1897 into the 3rd Bank;

the 84th National Bank, est. 1878 in Daishōji, acquired 1928 by Showa Bank;

the 87th National Bank, est. 1878 in Ōhashi, merged 1902 into the 130th Bank;

the 103rd National Bank, est. 1878 in Iwakuni, acquired 1893 by the Bank of Japan which merged 1923 into Yasuda Bank;

the 118th National Bank, est. 1878 in Tokyo, merged 1880 into the 136th National Bank (see below);

the 130th National Bank, est. 1879 in Osaka, merged 1923 into Yasuda Bank;

the 136th National Bank, est. 1879 in Handa, merged 1898 into the 130th Bank.

Founding merger

Mizuho was established in 2000 as Mizuho Holdings, Inc. by the merger of Dai-Ichi Kangyo Bank, Fuji Bank, and the Industrial Bank of Japan, first announced in 1999.[12][13][14] It was the first financial holding company structure created among major Japanese banks.[15]

On 2002/04/01, DKB, Fuji and IBJ were officially and legally combined into two banks,[16] Mizuho Bank, Ltd. and Mizuho Corporate Bank, Ltd.,[17]

Mizuho Financial Group

History

Founding merger

Divisions

Retail Group

Global Corporate Group

Global wealth and asset management

Strategy affiliates

Sponsorship

Notable employees

Controversies

See also

External links

References

Subsequent development