Purchase of Stock
Mizuho Financial Group, Inc. ("MHFG") hereby announces that its Board of Directors has resolved today to purchase the following stock.
1. Reason for the purchase of stock
In the press release, "Implementation of the "Channel to Discovery" Plan" issued on April 26, 2005, it was announced that Mizuho Holdings, Inc. ("MHHD"), a wholly-owned subsidiary of MHFG, would be re-formed into a new advisory company (Mizuho Financial Strategy Co., Ltd.). This purchase will be implemented in order to acquire all the stock of Mizuho Bank, Ltd. ("MHBK") and Mizuho Corporate Bank, Ltd. ("MHCB") currently owned by MHHD.
2. Outline of stock to be purchased
(1) Stock of MHBK
All of common stock and preferred stock
(2) Stock of MHCB
All of common stock and preferred stock
(3) Total amount to be paid for the purchase
JPY 3,499.7 billion
(If MHBK and / or MHCB make(s) an own stock repurchase before the scheduled date of this stock purchase stated below, the amount of such repurchase will be deducted from the total amount above.)
3. Seller of the stock
MHHD
4. Scheduled date of the purchase
October 1, 2005
5. Effect on profits / losses of MHFG
The purchase will not affect MHFG's Non-Consolidated and Consolidated Earnings Estimates for Fiscal 2005.
- The statements contained in this press release of the current expectations are forward-looking statements subject to significant risks and uncertainties, and actual results may differ materially. Factors that could cause actual results to differ materially include, but are not limited to, changes in overall economic conditions, changes in market rates of interest, further declines in the value of equity securities or real estate, further deterioration of the quality of loans to certain industry sectors and the effect of new legislation or government directives.
- This press release does not constitute an offer for sale or solicitation for investment or other similar activity in and outside of Japan.