Mizuho’s Top Executives to Resign After Government Punishments Over System Failures

Mizuho’s Top Executives to Resign After Government Punishments Over System Failures
Mizuho Financial Group logo is seen at the company's headquarters in Tokyo, Japan, on Aug. 20, 2018. Toru Hanai//Reuters
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TOKYO—Mizuho Financial Group said on Friday its chief, chairman, and three other executives will resign as financial authorities reprimanded Japan’s No. 3 lender for a series of technical system failures.

The Financial Services Agency (FSA), the country’s banking regulator, said in a statement the failures had “undermined the credibility of Japan’s bank settlement system”.