Mizuho Financial Group, Inc. hereby announces that its wholly owned subsidiary, Mizuho Corporate Bank, Ltd., has decided to dissolve its subsidiary, Innovest Corporation, as follows.
1. Outline of the subsidiary to be dissolved and the scheduled date of dissolution.
|Company Name||Innovest Corporation|
|Location||530 Fifth Ave, New York, NY 10036|
|Representative||Yukio Yasuda (Chairman)|
|Date of Establishment||June 1997|
|Paid-in Capital||USD 100,000-|
|Number of Stocks Outstanding||1,000 Shares|
|Total Assets||USD 477.9 thousand (As of the end of December 2004)|
|Number of Employees||Nil (As of the end of Dec. 2004)|
|Shareholder||Mizuho Corporate Bank, Ltd. (100% shareholder)|
|Recent Financial Performance||Ordinary Losses: USD 1.6 thousand
Net Loss: USD 5.5 thousand
(Fiscal Year Ended in December 2004)
|Date of Dissolution||September 2006 (Planned)|
2. Reason for Dissolution
The company is to be dissolved at this time as it has served its original purpose.
3. Effect on Profits / Losses
This decision will have no material effect on the earnings estimates for the current fiscal year (consolidated or non-consolidated) of Mizuho Financial Group, Inc.