is the integrated

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

and

corporate banking Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, ...

unit of

Mizuho Financial Group , abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "" literally means "abundant rice" in Japanese and "harvest" in the figurative sense. Upo ...

(; ), the third largest

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

company in Japan, with total assets of approximately $1.8 trillion in 2017. Mizuho is one of the three so-called Japanese "megabanks" (along with

MUFG is a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan. MUFG holds assets of around US$3.1 trillion as of 2016 and is one of the "Three Great Houses" of the Mitsubishi Group alongside Mitsubishi Corp ...

and SMBC). Mizuho Bank provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities. Its headquarters office building is located in the Otemachi district of

Chiyoda, Tokyo is a special ward located in central Tokyo, Japan. It is known as Chiyoda City in English.Profile< ...

. Mizuho Bank has over 505

branch A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk (botany), trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term '' ...

es and offices in Japan and in 38 other countries, and is the only bank to have branches in every

prefecture A prefecture (from the Latin ''Praefectura'') is an administrative jurisdiction traditionally governed by an appointed prefect. This can be a regional or local government subdivision in various countries, or a subdivision in certain international ...

in Japan. The name “Mizuho” is an archaic Japanese term meaning “golden ears of rice,” and was used in the classical text '' Nihon Shoki'' to describe Japan.

History

Announced in 1999,

was established on April 1, 2002 by the

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

Dai-Ichi Kangyo Bank , abbreviated as , was one of the largest banks in the world during the latter half of the 20th century. Dai-Ichi Kangyo Bank was created in 1971 by a consortium of two banks: Dai-Ichi Bank, Japan's oldest bank, and Nippon Kangyo Bank, a state f ...

Fuji Bank The was one of Japan's major banks during the post–World War II era. It combined with Dai-Ichi Kangyo Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group, and changed its name to Mizuho Corporate Bank in 2002 after t ...

and the

Industrial Bank of Japan The Industrial Bank of Japan, Limited (IBJ), based in Tokyo, Japan, was one of the largest banks in the world during the latter half of the 20th century. It combined with Dai-Ichi Kangyo Bank and Fuji Bank in 2002 to form Mizuho Financial Grou ...

. All three predecessors were major financial institutions in their own right and had served as cornerstones of major

zaibatsu is a Japanese language, Japanese term referring to industrial and financial vertical integration, vertically integrated business conglomerate (company), conglomerates in the Empire of Japan, whose influence and size allowed control over signi ...

(prewar era) and

keiretsu A is a set of companies with interlocking business relationships and shareholdings. In the legal sense, it is a type of informal business group that are loosely organized alliances within the social world of Japan's business community. The ''ke ...

(postwar era). In April 2002,

Mizuho Corporate Bank , or MHCB, was the corporate and investment banking subsidiary of Mizuho Financial Group, the second-biggest Japanese financial services conglomerate, prior to the reintegration of investment banking services under the Mizuho Bank name in Jul ...

and Mizuho Bank were established as two core banking subsidiaries of

through a split and merger process reorganizing the three legacy banks. It was the first financial holding company structure created among major Japanese banks. Mizuho Corporate Bank focused on large corporations, financial institutions and public sector entities in Japan and overseas. Mizuho Bank focused on individuals and small and medium-sized companies in Japan.

engaged in steady expansion overseas, opening twenty overseas offices between 2005 and 2010, particularly in China, as well as in the Americas, Europe and Middle East. In 2006,

became the first Japanese bank to obtain financial holding company status in the U.S., and

listed its ADRs on the New York Stock Exchange. The two banks were initially consolidated under a holding company,

Mizuho Holdings Mizuho Financial Strategy Co.,Ltd. (株式会社みずほフィナンシャルストラテジー) is a company that focuses on providing advisory services. It is the successor of Mizuho Holdings, Inc. (MHI), which was a Japanese bank holding compa ...

. On October 1, 2005 they were transferred to a new holding vehicle,

. On July 1, 2013, a merger between the former Mizuho Bank and the former

took place, and the institution was named Mizuho Bank.

Services

Mizuho services include current accounts, domestic and international cash cards, international money transfers, credit cards, saving accounts, loans, and Internet banking.

References

External links

Mizuho Bank

Mizuho BankMizuho Financial Group
{{Authority control Financial services companies established in 2002 Banks established in 2002 Banks of Japan Financial services companies based in Tokyo Japanese brands Investment banks of Japan Bank, Mizuho Fuyo Group Furukawa Group Conglomerate companies based in Tokyo

History

Services

See also

References

External links