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==History==
==History==
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. 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.<ref>{{cite web|url=http://secfilings.nyse.com/files.php?symbol=MFG&fg=24|title=Form 20-F Mizuho Financial Group, Inc.|date=2009-08-19 |publisher=Financial Group, Inc.|page=42|accessdate=2010-04-14}}</ref>
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. 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.<ref>{{cite web|url=http://secfilings.nyse.com/files.php?symbol=MFG&fg=24|title=Form 20-F Mizuho Financial Group, Inc.|date=2009-08-19 |publisher=Financial Group, Inc.|page=42|accessdate=2010-04-14}}</ref>
In 2004 the Polaris Capital Group was divested, focusing on private equity investment.<ref>https://books.google.ca/books?id=6zYKBgAAQBAJ&pg=PA97</ref> 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.<ref>https://books.google.ca/books?id=yEqBDAAAQBAJ&pg=PA144</ref> It also issues buy and sell ratings for publicly traded stocks.<ref>https://www.streetinsider.com/Analyst+Comments/salesforce.com+%28CRM%29+PT+Raised+to+%24110+at+Mizuho+Securities/13229680.html</ref> During the early 2000s it was considered to be one of the “big four” firms that controlled a large portion of Japanese trading.<ref>https://books.google.ca/books?id=_l3GAgAAQBAJ&pg=PA165</ref> In December 2005, an employee at Mizuho Securities placed an erroneous sell order of J-COM Co., Ltd. shares on the [[Tokyo Stock Exchange]],<ref name="autogenerated1">Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, 4 December 2009)</ref> resulting in a loss of approximately 40.7 billion [[yen]].<ref>{{cite web|url=http://www.mizuho-sc.com/english/newsrelease/2009/pdf/20091204_01_en.pdf|title=News release re the first instance judgment rendered in the lawsuit for damages against the Tokyo Stock Exchange, Inc.|date=2009-12-04 |publisher=Mizuho Securities|page=1|accessdate=2010-04-16}}</ref>
In 2004 the Polaris Capital Group was divested, focusing on private equity investment.<ref>{{Cite book | url=https://books.google.ca/books?id=6zYKBgAAQBAJ&pg=PA97 |title = Polaris Capitalism|isbn = 9781304483089|last1 = Kimura|first1 = Yuji|date = October 2013}}</ref> 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.<ref>{{Cite book | url=https://books.google.ca/books?id=yEqBDAAAQBAJ&pg=PA144 | title=Trade, Investment and Competition in International Banking| isbn=9780230512375| last1=O'Connor| first1=A.| date=November 2005}}</ref> It also issues buy and sell ratings for publicly traded stocks.<ref>https://www.streetinsider.com/Analyst+Comments/salesforce.com+%28CRM%29+PT+Raised+to+%24110+at+Mizuho+Securities/13229680.html</ref> During the early 2000s it was considered to be one of the “big four” firms that controlled a large portion of Japanese trading.<ref>{{Cite book | url=https://books.google.ca/books?id=_l3GAgAAQBAJ&pg=PA165 | title=How Finance is Shaping the Economies of China, Japan, and Korea| isbn=9780231165266| last1=Park| first1=Yung Chul| last2=Patrick| first2=Hugh| date=2013-11-26}}</ref> In December 2005, an employee at Mizuho Securities placed an erroneous sell order of J-COM Co., Ltd. shares on the [[Tokyo Stock Exchange]],<ref name="autogenerated1">Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, 4 December 2009)</ref> resulting in a loss of approximately 40.7 billion [[yen]].<ref>{{cite web|url=http://www.mizuho-sc.com/english/newsrelease/2009/pdf/20091204_01_en.pdf|title=News release re the first instance judgment rendered in the lawsuit for damages against the Tokyo Stock Exchange, Inc.|date=2009-12-04 |publisher=Mizuho Securities|page=1|accessdate=2010-04-16}}</ref>


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.<ref>Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, December 4, 2009)</ref> The president of TSE resigned in 2005.<ref>{{cite news|accessdate=2018-06-22|title='Fat finger' trade costs Tokyo shares boss his job|url=https://www.independent.co.uk/news/world/asia/fat-finger-trade-costs-tokyo-shares-boss-his-job-520283.html|newspaper=The Independent|date=2005-12-21}}</ref> Mizuho was awarded approximately 10.7 billion yen.<ref name="autogenerated1"/> Mizuho Securities operates several subsidiaries, including Mizuho Securities USA, where the CEO is Gerald Rizzieri.<ref>https://www.forbes.com/sites/antoinegara/2016/01/04/mizuho-john-koudounis-investment-banking-debt-equity-mergers-deals/</ref><ref>http://www.financemagnates.com/executives/move/mizuho-securities-promotes-gerald-rizzieri-president-ceo/</ref>
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.<ref>Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, December 4, 2009)</ref> The president of TSE resigned in 2005.<ref>{{cite news|accessdate=2018-06-22|title='Fat finger' trade costs Tokyo shares boss his job|url=https://www.independent.co.uk/news/world/asia/fat-finger-trade-costs-tokyo-shares-boss-his-job-520283.html|newspaper=The Independent|date=2005-12-21}}</ref> Mizuho was awarded approximately 10.7 billion yen.<ref name="autogenerated1"/> Mizuho Securities operates several subsidiaries, including Mizuho Securities USA, where the CEO is Gerald Rizzieri.<ref>https://www.forbes.com/sites/antoinegara/2016/01/04/mizuho-john-koudounis-investment-banking-debt-equity-mergers-deals/</ref><ref>http://www.financemagnates.com/executives/move/mizuho-securities-promotes-gerald-rizzieri-president-ceo/</ref>

Revision as of 01:42, 8 September 2019

Mizuho Securities Co., Ltd.
みずほ証券株式会社
Mizuho Securities
IndustryInvestment banking
Headquarters
Ōtemachi, Tokyo
,
Japan
Number of employees
 (6,994(As of Mar 31, 2016))
ParentMizuho Financial Group
Websitewww.mizuho-sc.com/english
Mizuho Securities headquarters in Ōtemachi, Tokyo

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

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. 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.[1] In 2004 the Polaris Capital Group was divested, focusing on private equity investment.[2] 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.[3] It also issues buy and sell ratings for publicly traded stocks.[4] During the early 2000s it was considered to be one of the “big four” firms that controlled a large portion of Japanese trading.[5] In December 2005, an employee at Mizuho Securities placed an erroneous sell order of J-COM Co., Ltd. shares on the Tokyo Stock Exchange,[6] resulting in a loss of approximately 40.7 billion yen.[7]

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.[8] The president of TSE resigned in 2005.[9] Mizuho was awarded approximately 10.7 billion yen.[6] Mizuho Securities operates several subsidiaries, including Mizuho Securities USA, where the CEO is Gerald Rizzieri.[10][11]

References

  1. ^ "Form 20-F Mizuho Financial Group, Inc". Financial Group, Inc. 2009-08-19. p. 42. Retrieved 2010-04-14.
  2. ^ Kimura, Yuji (October 2013). Polaris Capitalism. ISBN 9781304483089.
  3. ^ O'Connor, A. (November 2005). Trade, Investment and Competition in International Banking. ISBN 9780230512375.
  4. ^ https://www.streetinsider.com/Analyst+Comments/salesforce.com+%28CRM%29+PT+Raised+to+%24110+at+Mizuho+Securities/13229680.html
  5. ^ Park, Yung Chul; Patrick, Hugh (2013-11-26). How Finance is Shaping the Economies of China, Japan, and Korea. ISBN 9780231165266.
  6. ^ a b Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, 4 December 2009)
  7. ^ "News release re the first instance judgment rendered in the lawsuit for damages against the Tokyo Stock Exchange, Inc" (PDF). Mizuho Securities. 2009-12-04. p. 1. Retrieved 2010-04-16.
  8. ^ Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, December 4, 2009)
  9. ^ "'Fat finger' trade costs Tokyo shares boss his job". The Independent. 2005-12-21. Retrieved 2018-06-22.
  10. ^ https://www.forbes.com/sites/antoinegara/2016/01/04/mizuho-john-koudounis-investment-banking-debt-equity-mergers-deals/
  11. ^ http://www.financemagnates.com/executives/move/mizuho-securities-promotes-gerald-rizzieri-president-ceo/

External links

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