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Mizuho's system failures caused by corporate culture, third-party probe says

Mizuho's system failures caused by corporate culture, third-party probe says

FILE PHOTO: Mizuho Financial Group logo is seen at the company's headquarters in Tokyo, Japan August 20, 2018. REUTERS/Toru Hanai

TOKYO: The repeated system failures at Japan's Mizuho Financial Group Inc were fundamentally caused by a corporate culture with a weak crisis response, a third-party investigation committee said in a report on Tuesday.

Mizuho, Japan's third-largest lender by assets, reported four system failures from February to March, with one of them affecting 4,318 automated teller machines (ATMs) out of the 5,395 nationwide and leaving thousands of bank cards and passbooks stuck inside.

(Reporting by Takashi Umekawa; Editing by Chang-Ran Kim)

Source: Reuters

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