Mizuho Financial Group, Inc. hereby announces that our wholly owned subsidiary, Mizuho Bank, Ltd. has decided to dissolve its subsidiary, Mizuho Sogo Kanri Co., Ltd., as follows.
1. Outline of the subsidiary to be dissolved and the scheduled date of dissolution.
|Company Name||Mizuho Sogo Kanri Co., Ltd|
|Location||3-12-2 Nihonbashi, Chuo-ku, Tokyo|
|Representative||Hiroshi Hamada (President & CEO)|
|Business||Bidding in judicial foreclosures, possession and management of real estate collateral for Mizuho Bank, Ltd.|
|Date of Establishment||August 1994|
|Paid-in Capital||JPY 300 million|
|Number of Shares Outstanding||12,360 Shares|
|Total Assets||JPY 3,488 million (As of the end of December 2005)|
|Number of Employees||6 (As of the end of February 2006)|
|Shareholder||Mizuho Bank, Ltd. (100% shareholder)|
|Recent Financial Performance
(Fiscal Year Ended December 2005)
|Ordinary Losses JPY 58 million
Net Losses JPY 38 million
|Date of Dissolution||October 2006 (Planned)|
2. Reason for Dissolution
The company is to be dissolved as a result of the completion of sales of its real estate and the completion of preparation for dissolution.
3. Effect on Profits / Losses
This decision will have no material effect on the Earnings Estimates for the current fiscal year (consolidated or non-consolidated) of Mizuho Financial Group, Inc.