Mizuho Financial Group, Inc. hereby announces that its wholly-owned subsidiary, Mizuho Corporate Bank, Ltd ("MHCB"), has decided to dissolve its subsidiaries, (1)ONKD Inc., (2)10822 Toller Drive LLC, (3)K2 Trust and(4)SI-II, LLC, as follows.
1. Outline of the Subsidiaries to be Dissolved
(1) ONKD Inc.
A. The Subsidiary to be Dissolved
| Name | ONKD Inc. |
| Location | 1209 Orange Street, Wilmington, DE 19801, USA |
| Representative | Kazuaki Kitabatake, Chairman & CEO |
B. Reason for Dissolution
The Company is ready to go into dissolution as a result of completing sale of its real property held as collateral.
C. Outline of the Subsidiary
| Business | Possession and Management of real property as Collateral |
| Date of Establishment | March, 1995 |
| Paid-in capital | USD 100 thousand |
| Number of Stocks issued | 1 stock |
| Total Asset (February 2003) | USD 1,075 thousand |
| Number of Employees | Nil |
| Shareholder | 100% owned by MHCB |
| Recent Financial Performance (Fiscal Year Ended in February 2003) | Ordinary Profit USD 14 thousand Net Income USD 14 thousand |
D. Date of Dissolution
End of June, 2004 (Planned)
(2) 10822 Toller Drive LLC
A. The Subsidiary to be Dissolved
| Name | 10822 Toller Drive LLC |
| Location | 1209 Orange Street, Wilmington, DE 19801, USA |
B. Reason for Dissolution
The LLC is to go into dissolution as a result of completing sale of its real property held as collateral.
C. Outline of the Subsidiary
| Business | Possession and Management of real property as Collateral |
| Date of Establishment | May, 2002 |
| Amount Invested | Nil |
| Total Asset (January, 2004) | Nil |
| Number of Employees | Nil |
| Recent Financial Performance (January, 2004) | Ordinary Profit USD 0 Net Income USD 0 |
D. Date of Dissolution
End of May, 2004 (Planned)
(3) K2 Trust
A. The Subsidiary to be Dissolved
| Name | K2 Trust |
| Location | Wilmington Trust, 1100 North Market Street, Wilmington, DE 19801, USA |
B. Reason for Dissolution
The Trust was established for the purpose of booking Mezzanine & Subordinated Note as a part of securitization program of MHCB. The Trust is to be dissolved as a result of completing sale of its assets held.
C. Outline of the Subsidiary
| Business | Booking of Mezzanine & Subordinated Note |
| Date of Establishment | December, 1998 |
| Amount Invested | USD 1 |
| Total Asset (December, 2003) | USD 1 |
| Number of Employees | Nil |
| Investor | 100% owned by Spring Capital Holdings, Inc. (which is a 100% subsidiary of MHCB) |
| Recent Financial Performance (Fiscal Year Ended in December, 2003) | Ordinary Profit USD 26 thousand Net Income USD 26 thousand |
D. Date of Dissolution
End of May, 2004 (Planned)
(4) SI-II, LLC
A. The Subsidiary to be Dissolved
| Name | SI-II, LLC |
| Location | 1251 Avenue of the Americas, New York, NY 10020, USA |
B. Reason for Dissolution
The LLC is to go into dissolution as a result of completing sale of its funds held.
C. Outline of the Subsidiary
| Business | Fund Investment |
| Date of Establishment | December, 1998 |
| Amount Invested | USD 1 |
| Total Asset (December, 2003) | USD 1 |
| Number of Employees | Nil |
| Investor | 100% owned by Mizuho Corporate Strategic Investments USA, Inc. (which is a 100% subsidiary of MHCB) |
| Recent Financial Performance (Fiscal Year Ended in December, 2003) | Ordinary Profit USD 135 thousand Net Income USD 135 thousand |
D. Date of Dissolution
End of June, 2004 (Planned)
2. There is no change on our previously announced Earnings Estimates for the current fiscal year. (Consolidated or non-consolidated)