News
RETAIL INVESTMENT | Cesar Tordesillas, Japan
view(s)

Mizuho to fortify investment banking business

Mizuho Financial Group is planning to buy out its brokerage and trust bank units in a deal that could be worth around $4 billion.

 

Japan's second-largest bank by assets is planning to buy out minority shareholders in Mizuho Securities, Mizuho Trust & Banking, Mizuho Investors Securities.

Mizuho is expected to carry out the buyout around October after getting approval at an annual shareholders meeting scheduled in June, the source said.

Mizuho and rival top banks Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group are trying to strengthen their investment banking and other operations as they face weak prospects in their core lending business in Japan.

Mizuho aims to consolidate its group management for better control and synergy among units by buying out the minority shareholders in these companies.

You can read the full story at Reuters.com.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.