Japan gov’t to issue order to Mizuho over bank system failures

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Kyodo News

Japan’s financial regulators are set to issue a business improvement order against Mizuho Financial Group Inc. and its banking arm Mizuho Bank over a string of system failures this year, sources familiar with the matter said Tuesday. The administrative measure comes after seven system failures have occurred at the Japanese megabank this year, with the latest disrupting about 100 automated teller machines on Sept. 8. Mizuho has yet to get to the bottom of the series of failures. As part of the order, the Financial Services Agency will request that Mizuho Bank submit a work plan for system maint…

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