Mizuho Financial Group, Japan’s second-largest bank, plans to sell as much as Y900bn ($9.2bn) of equity holdings, as the sinking value of its investments threatens to cause the bank’s first annual loss in six years, reports Bloomberg. Takashi Tsukamoto, who becomes Mizuho’s chief executive on April 1, said the bank still holds Y2.9 trillion in stocks and wants to quickly reduce it to under Y2.5 trillion and then to Y2 trillion.

This entry was posted by Gwen Robinson on Friday, March 27th, 2009 at 4:48 and is filed under Capital markets, People. Tagged with mizuho. Edit this entry.