February 16, 2024
Mizuho Financial Group, Inc.
Mizuho Bank, Ltd.
Announcement of acquisition of shares of Defined Contribution Plan Services
Mizuho Bank, Ltd. (President & CEO: Masahiko Kato), a consolidated subsidiary of Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara) announced today the acquisition of all the issued shares of Defined Contribution Plan Services Co., Ltd. (President & CEO: Hiromichi Nakajima; "DCPS").
1. Reason for this acquisition
With the aim of improving services in the defined contribution pension sector, which is expected to expand further in the future, Mizuho Bank has made DCPS, which operates call center and online services dedicated to defined contribution pension plans, a wholly-owned subsidiary of Mizuho Bank.
Mizuho Bank aims to further grow the defined contribution pension business as a part of the Mizuho group by taking advantage of DCPS's extensive expertise in defined contribution pension operations and Mizuho Bank's business foundation.
This acquisition is to enhance Mizuho's asset management business, which is one of our key focus areas. By improving the functions of the call center and web services, we will seek to improve convenience for subscribers and plan administrators.
2. Dates of this acquisition
February 7, 2024: Conclusion of sales contract for acquisition
February 16, 2024: Execution of acquisition
3. Mizuho Bank overview (as of September 30, 2023)
| (1) Company name | Mizuho Bank Co., Ltd. |
| (2) Head Office | 1-5-5 Otemachi, Chiyoda-ku, Tokyo |
| (3) President & CEO | Masahiko Kato |
| (4) Principal business | Banking |
| (5) Capital | 1,404,065 million yen |
4. DCPS overview (as of September 30, 2023)
| (1) Company name | Defined Contribution Plan Services Co., Ltd. |
| (2) Head Office | 8-1 Akashi-cho, Chuo-ku, Tokyo |
| (3) President & CEO | Hiromichi Nakajima |
| (4) Principal business | Call center and online services for defined contribution pension plans |
| (5) Capital | 2,000 million yen |
| (6) Date of establishment | September 2000 |
| (7) Shareholder composition and shareholding ratio prior to this acquisition | Mizuho Bank 51.0% Asahi Mutual Life Insurance Company 10.0% Dai-ichi Life 10.0% Fukoku Mutual Life Insurance Company 10.0% Meiji Yasuda Life Insurance 10.0% Mizuho Trust & Banking 9.0% |
5. Status of shares held after the acquisition
As a result of the acquisition, Mizuho Bank will own 100% of the common stock of DCPS.