Identifying the cause of IT system failures at Mizuho Bank and preventing further incidents

June 15, 2021

We sincerely apologize to our customers and other affected parties for significant disruptions caused by the series of IT system failures which occurred at Mizuho Bank (hereinafter, BK).

Mizuho Financial Group (hereinafter, FG) and BK conducted their own review of the series of system failures that occurred at BK alongside the investigation implemented by the System Failure Special Investigative Committee established on March 17. 

Today we report our (FG and BK) overview of efforts to identify the cause of system failures and prevent further incidents, taking into account our review of measures for preventing further incidents following the report released April 5, 2021 that provided an update on the status of such measures and the assessment and recommendations of the System Failure Special Investigative Committee disclosed on June 15. This overview was resolved on following review by the System Failure Response Evaluation Committee, which is comprised of only FG outside directors. 

FG and BK are continually working on initiatives to prevent further incidents and will provide additional timely updates whenever relevant information is available. 

Full report(PDF/299KB)

(Attachment) Executive penalties(PDF/174KB)

Preventing further incidents of IT system failures(PDF/135KB)

PDF for print (PDF/474KB)

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