The Bank of New York Appointed Depositary by Mizuho Financial Group, Inc.
NEW YORK, November 8, 2006 -- The Bank of New York, a global leader in securities servicing, has been selected by Mizuho Financial Group, Inc. as depositary for its American depositary receipt (ADR) program. Five hundred ADRs represent one common share. The ADRs will trade on New York Stock Exchange under the symbol "MFG."
Mizuho Financial Group is a financial institution offering a broad range of financial services including banking, securities, trust and asset management services. The Group has over 45,000 staff working in 764 offices around the world. Mizuho Financial Group was created in 2000 through the merger of three predecessor banks: The Dai-Ichi Kangyo Bank, The Fuji Bank and The Industrial Bank of Japan. Under the Mizuho Financial Group umbrella, core companies include Mizuho Bank, the retail-oriented banking subsidiary, and Mizuho Corporate Bank, the wholesale banking subsidiary.
Terunobu Maeda, president and chief executive officer of Mizuho Financial Group, said, "The listing of Mizuho’s ADRs on the NYSE is clear evidence of a new era for Mizuho Financial Group and its return to the world stage. It is also a symbol of the revival of the Japanese banking industry, following the long and difficult period of consolidation and reform. Through the listing, Mizuho aims to further strengthen internal controls in line with Sarbanes-Oxley compliance requirements and to improve corporate disclosure. Mizuho also hopes to diversify its global investor base as it gains and strengthens investor confidence."
Christopher Sturdy, executive vice president and head of The Bank of New York’s Depositary Receipt Division, said, "We are honored that Mizuho Financial Group, Inc., one of the world's largest and most sophisticated financial services companies, has partnered with The Bank of New York to facilitate its NYSE listing, and we look forward to working with the Group to unlock the potential of the U.S. capital markets and the growing investor appetite for DRs. This appointment highlights the Bank's strategy to act in cooperation with banks around the world, which is a major reason why three of every four banks globally select The Bank of New York as their depositary."
The Bank of New York is depositary for more than 1,250 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 61 countries. With an unrivalled commitment to helping securities issuers succeed in the world’s rapidly evolving financial markets, the Bank delivers the industry’s most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York has been conducting business in the Asia-Pacific region for over 50 years. The Company has 18 offices in 12 countries in the region.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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