is the integrated
retail
Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...
and
corporate banking unit of
Mizuho Financial Group (; ), the third largest
financial services 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 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
.
Mizuho Bank has over 505
branch
A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term '' twig'' usuall ...
es and offices in Japan and in 38 other countries, and is the only bank to have branches in every
prefecture 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,
Mizuho Financial Group was established on April 1, 2002 by the
merger of
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 fi ...
,
Fuji Bank and the
Industrial Bank of Japan. All three predecessors were major financial institutions in their own right and had served as cornerstones of major
zaibatsu (prewar era) and
keiretsu (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
Mizuho Financial Group 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.
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 ...
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,
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 ...
became the first Japanese bank to obtain financial holding company status in the U.S., and
Mizuho Financial Group listed its ADRs on the New York Stock Exchange.
The two banks were initially consolidated under a holding company,
Mizuho Holdings. On October 1, 2005 they were transferred to a new holding vehicle,
Mizuho Financial Group.
On July 1, 2013, a merger between the former Mizuho Bank and the former
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 ...
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.
See also
*
Mizuho Financial Group
*
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 ...
References
External links
Mizuho BankMizuho 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