Mizuho to Boost System Division to Prevent Glitch

Economy

Tokyo, April 5 (Jiji Press)--Japan's Mizuho Financial Group Inc. <8411> on Monday promised to boost its system development division and crisis management system to prevent any further system glitch at Mizuho Bank.

The bank also changed its settings related to automated teller machines so that ATMs will return cash cards and bankbooks to customers in principle in the event of a problem.

Mizuho Bank had four system failures in about two weeks from late February. In the first one, thousands of cash cards and bankbooks were stuck inside ATMs, forcing customers to wait a long time until their cards and bankbooks were returned.

The preventive measures were announced at a press conference by Tatsufumi Sakai, president of Mizuho Financial Group.

"We deeply apologize for causing serious trouble and concern to our customers," Sakai said.

[Copyright The Jiji Press, Ltd.]

Jiji Press