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Trouble-hit Mizuho Financial names senior exec Kihara as new president

Mizuho Financial Group Inc. said Monday it has appointed Senior Executive Officer Masahiro Kihara as president, with the beleaguered financial institution looking to restore public trust under new leadership after repeated system failures severely impacted operations at its key banking unit. The 56-year-old will replace Tatsufumi Sakai, 62, effective on Feb. 1. Kihara is the older brother of Deputy Chief Cabinet Secretary Seiji Kihara.

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Mizuho president to quit over system glitches

Mizuho Financial Group Inc. President Tatsufumi Sakai is set to step down to take responsibility for a series of system failures, sources familiar with the matter said on Nov. 19, 2021.

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Mizuho Bank suffers 5th Japan-wide system failure of 2021

Mizuho Bank suffered its fifth system failure of the year on Friday that prevented the completion of deposits, withdrawals, transfers and other transactions at its branch counters across Japan, its parent company said. "We take it extremely seriously that the failure happened while we were working to prevent any recurrence following the previous crashes in February and March," Mizuho Financial Group President and Group CEO Tatsufumi Sakai said at a press conference as he apologized to those affected by the problem. The latest crash came as the Financial Services Agency is investigating the system failures in February and March with an eye to issuing a business improvement order to Mizuho.

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Panel concludes Mizuho's poor system operation caused ATM failures

Mizuho Financial Group Inc. CEO Tatsufumi Sakai (L) and Mizuho Bank President Koji Fujiwara attend a press conference in Tokyo on June 15, 2021. A third-party panel concluded the same day that a series of system failures that hit the Japanese megabank earlier this year, including many of its automated teller machines, were due to poor operation and management rather than system defects. (Kyodo)

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Mizuho Group head meets press after system failures

Mizuho Financial Group President Tatsufumi Sakai meets the press in Tokyo on March 17, 2021, apologizing for four system failures by its banking arm in a matter of two weeks.

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Mizuho Group head meets press after system failures

Mizuho Financial Group President Tatsufumi Sakai meets the press in Tokyo on March 17, 2021, apologizing for four system failures by its banking arm in a matter of two weeks.

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Panel concludes Mizuho's poor system operation caused ATM failures

Mizuho Financial Group Inc. CEO Tatsufumi Sakai (L) and Mizuho Bank President Koji Fujiwara attend a press conference in Tokyo on June 15, 2021. A third-party panel concluded the same day that a series of system failures that hit the Japanese megabank earlier this year, including many of its automated teller machines, were due to poor operation and management rather than system defects.

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Panel concludes Mizuho's poor system operation caused ATM failures

Mizuho Financial Group Inc. CEO Tatsufumi Sakai (L) and Mizuho Bank President Koji Fujiwara attend a press conference in Tokyo on June 15, 2021. A third-party panel concluded the same day that a series of system failures that hit the Japanese megabank earlier this year, including many of its automated teller machines, were due to poor operation and management rather than system defects.

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Panel concludes Mizuho's poor system operation caused ATM failures

Mizuho Financial Group Inc. CEO Tatsufumi Sakai (2nd from L) and Mizuho Bank President Koji Fujiwara (3rd from L) bow in apology at a press conference in Tokyo on June 15, 2021. A third-party panel concluded the same day that a series of system failures that hit the Japanese megabank earlier this year, including many of its automated teller machines, were due to poor operation and management rather than system defects.

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Panel concludes Mizuho's poor system operation caused ATM failures

Mizuho Financial Group Inc. CEO Tatsufumi Sakai (L) and Mizuho Bank President Koji Fujiwara bow in apology at a press conference in Tokyo on June 15, 2021. A third-party panel concluded the same day that a series of system failures that hit the Japanese megabank earlier this year, including many of its automated teller machines, were due to poor operation and management rather than system defects.

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Mizuho Financial Group's 20th anniversary

Tatsufumi Sakai, president and CEO of Mizuho Financial Group Inc., gives an interview in Tokyo on Sept. 25, 2020. The banking group marks the 20th anniversary of its establishment on Sept. 29.

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Mizuho Financial Group's 20th anniversary

Tatsufumi Sakai, president and CEO of Mizuho Financial Group Inc., gives an interview in Tokyo on Sept. 25, 2020. The banking group marks the 20th anniversary of its establishment on Sept. 29.

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Mizuho Financial Group President Sakai

Mizuho Financial Group Inc. President Tatsufumi Sakai gives an interview in Tokyo on June 5, 2020. (Kyodo) ==Kyodo

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Mizuho Financial Group President Sakai

Mizuho Financial Group Inc. President Tatsufumi Sakai gives an interview in Tokyo on June 5, 2020. (Kyodo) ==Kyodo

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Mizuho Financial Group CEO Tatsufumi Sakai

Tatsufumi Sakai, president and group CEO of Mizuho Financial Group Inc., gives an interview in Tokyo on May 29, 2019. (Kyodo) ==Kyodo

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Mizuho Financial Group CEO Tatsufumi Sakai

Tatsufumi Sakai, president and group CEO of Mizuho Financial Group Inc., gives an interview in Tokyo on May 29, 2019. (Kyodo) ==Kyodo

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Mizuho Financial Group earnings report

Mitsubishi Financial Group Inc. President and CEO Tatsufumi Sakai attends a press conference in Tokyo on May 15, 2019. The company's group net profit for the year ended March 31 dropped 83.2 percent from a year earlier to 96.5 billion yen. (Kyodo) ==Kyodo

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Mizuho Financial Group earnings report

Mitsubishi Financial Group Inc. President and CEO Tatsufumi Sakai (2nd from R) attends a press conference in Tokyo on May 15, 2019. The company's group net profit for the year ended March 31 dropped 83.2 percent from a year earlier to 96.5 billion yen. (Kyodo) ==Kyodo

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Mizuho Financial Group's next president

Mizuho Securities Co. President Tatsufumi Sakai, seen in this undated photo, will succeed Yasuhiro Sato as president of Mizuho Financial Group Inc., effective April 1, 2018. (Kyodo) ==Kyodo