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Mizuho Financial Group, Inc. : Review of Group Capital Structure (Timely Disclosure 16:00) (HTML) (PDF/88KB)

04/04/2013 | 03:31am US/Eastern
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Mizuho Financial Group, Inc. (President & CEO: Yasuhiro Sato) ("MHFG"), Mizuho Bank, Ltd. (President & CEO: Takashi Tsukamoto) ("MHBK") and Mizuho Corporate Bank, Ltd. (President & CEO: Yasuhiro Sato) ("MHCB"), hereby announce that they have determined to turn Mizuho Securities Co., Ltd. (President & CEO: Hiroshi Motoyama) ("MHSC"), a consolidated subsidiary of MHFG, into a directly-held subsidiary of MHFG, by MHBK and MHCB, each a wholly-owned subsidiary of MHFG, distributing as a dividend in kind to MHFG all of the shares of MHSC that are held by each of MHBK and MHCB as of April 1, 2013 (hereinafter such change to MHSC shall be referred to as the "Change"), as described below.

1. Background and Purposes

Our group aims to build the most effective and advanced group management structure. This will include moving to a single bank and single securities structure that aims to promote timely and unified group strategic planning under the strong governance of the holding company as well as taking advantage of the characteristics and competitiveness of being the only Japanese banking group that holds its own bank, trust bank and securities company. It will also include moving to a new group capital structure and new group operational structure and the strengthening of group governance.

As announced in the news release titled "Review of Group Capital Structure and Transformation into New Group Management Structure" dated December 21, 2012, our group intends to turn MHSC, a consolidated subsidiary of MHFG, into a directly-held subsidiary of MHFG in the first half of fiscal year of 2013 and to move to a new group capital structure, which will place banking, trust banking, securities and other major group companies under the direct control of the holding company. Our group has determined to conduct the Change, by which it intends to achieve such move to a new group capital structure, on April 1, 2013, simultaneously with the commencement of "One MIZUHO New Frontier Plan - Stepping up to the Next Challenge -," a new medium-term business plan announced on February 26, 2013 in the release titled "One MIZUHO New Frontier Plan Stepping up to the Next Challenge."

This press release contains forward-looking statements, including estimates and plans. Such forward-looking statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions and do not represent any guarantee of future performance.
We may not be successful in implementing our business strategies, and management may fail to achieve its estimates, for a wide range of possible reasons, including, without limitation, those included in "Item 3.D. Key Information - Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in MHFG's most recent Form 20-F filed with the U.S. Securities and Exchange Commission ( "SEC" ) which is available in the Financial Information section of MHFG's web page at www.mizuho-fg.co.jp/english/ and also at the SEC's web site at www.sec.gov. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the rules of the Tokyo Stock Exchange.

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