Mizuho Corporate Bank, Ltd., a subsidiary of Mizuho Financial Group, Inc., has decided to terminate the business activities of one of its subsidiaries, Mizuho Corporate Asia (HK) Limited. Details are as follows:
1. Corporate Name and General Information
2. Reason for Termination
Mizuho Corporate Bank has decided to establish the Asia Corporate Banking Division and plans to transfer the core operations of Mizuho Corporate Asia (HK) Limited to this new division. In light of this action, the decision was made to terminate the business activities of Mizuho Corporate Asia (HK) Limited and to dissolve it after the transfer and termination of its business activities has been completed.
3. Details of Mizuho Corporate Asia (HK) Limited
4. Date of Dissolution
Dissolution is planned to take effect in March 2007 after the transfer and termination of its business activities has been completed.
5. Effect on Profit / Loss
The termination of the business of Mizuho Corporate Asia (HK) Limited will have no material effect on the profit and loss for FY2004 (consolidated and non-consolidated) of Mizuho Financial Group, Inc.
FOR IMMEDIATE RELEASE
March 24, 2005
Mizuho Corporate Bank, Ltd.
Establishment of the Asia Corporate Banking Division
Mizuho Corporate Bank, Ltd. ("MHCB"; President & CEO: Hiroshi Saito) will establish the Asia Corporate Banking Division. Details are as follows: