Mizuho Financial Group, Inc. hereby announces that its wholly owned subsidiary, Mizuho Bank, Ltd. has decided to dissolve its subsidiary, FINANCE & SERVICING CORPORATION, as follows.
1.Outline of subsidiary to be dissolved
|Corporate Name||FINANCE & SERVICING CORPORATION|
|Date of Establishment||February 2002|
|Capital Stock||JPY 10 million|
|Number of Stock Issued||200 Stocks|
|Total Assets (March 2005)||JPY 22,775 million|
|Number of Employees (March 2005)||10|
|Shareholder||Mizuho Bank, Ltd. 100%|
(Fiscal Year Ended in march 2005)
|Ordinary Losses JPY 425 million
Net Incomes JPY 4,227 million
|Scheduled Date of Dissolution||By March 2006|
2.Reason for Dissolution
The Company are being dissolved as a result of the completion of servicing their asset.
3.This decision will have no material effect on the profit and loss for this fiscal year of Mizuho Financial Group Inc.(consolidated or non-consolidated).