Mizuho Securities

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Mizuho Securities Co., Ltd.
Mizuho Securities
Native name
みずほ証券株式会社
Mizuho Shōken Kabushiki-gaisha
Company typeSubsidiary
IndustryFinancial services
Headquarters
Ōtemachi, Tokyo
,
Japan
ServicesSecurities brokerage
Investment banking
Securities research
Number of employees
6,820 (March 2024)
ParentMizuho Financial Group
Websitemizuhogroup.com/securities

Mizuho Securities Co., Ltd. (みずほ証券株式会社, Mizuho Shōken Kabushiki-gaisha) is a Japanese investment banking and securities firm. It is a wholly owned subsidiary of Mizuho Financial Group.

History

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The current Mizuho Securities is established by a merger between Shinko Securities and the former Mizuho Securities. The former Shinko Securities (a former equity-method affiliate of Mizuho Financial Group) and the former Mizuho Securities (a former consolidated subsidiary of Mizuho Financial Group) merged on 7 May 2009 after it was postponed due to the 2008 financial crisis.[1] The surviving entity was the former Shinko Securities, which changed its name to Mizuho Securities upon the merger. After the merger, Mizuho Financial Group holds 59.51% equity ownership of the new Mizuho Securities.[2] In 2004, the Polaris Capital Group was divested, focusing on private equity investment.[3] Mizuho Securities is involved in bond and stock trading, debt and equity financing, and advisory services for structured finance; its clients include financial institutions, public corporations, and institutional investors or firms.[4] It also issues buy and sell ratings for publicly traded stocks.[5] During the early 2000s, it was considered to be one of the "big four" firms that controlled a large portion of Japanese trading.[6] In December 2005, an employee at Mizuho Securities placed an erroneous sell order of J-COM Co., Ltd. shares on the Tokyo Stock Exchange,[7] resulting in a loss of approximately ¥40.7 billion.[8]

Mizuho Securities then brought a case for its damages against the Tokyo Stock Exchange (TSE) as they could not cancel the order due to a fault in the TSE's computer system.[9] The president of TSE resigned in 2005.[10] Mizuho was awarded approximately ¥10.7 billion.[7] Mizuho Securities operates several subsidiaries, including Mizuho Securities USA, where the CEO is Gerald Rizzieri.[11][12]

References

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  7. ^ a b Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, 4 December 2009)
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  9. ^ Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, December 4, 2009)
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