Mizuho Financial Group plans to inject $5.7m to trust banking arm

This is so that MTBC can acquire over 600,000 shares of Mizuho.

Mizuho Financial Group is planning to make an additional cash contribution of approximately $5.69m (JPY850m) into Mizuho Trust & Banking Co. (MTBC) its trust banking arm.

This is made in order for MTBC to be able to acquire more shares of Mizuho Financial Group. 

It is expected that MTBC will acquire up to 608,400 shares maximum from the stock market between 26 February to 5 March 2024.

This is in respect to Mizuhi’s stock compensation program for operating officers, Mizuho said.

(US$1 = JPY149.21; as of 12 February 2024, 12:38PM)