|Headquarters||Ōtemachi, Tokyo, Japan|
|Parent||Mizuho Corporate Bank, Ltd.|
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 subsidiary of Mizuho Corporate Bank, Ltd., which is a wholly owned subsidiary of Mizuho Financial Group, the second-biggest Japanese financial services conglomerate.
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.
On 8 December 2005, Mizuho Securities erroneously placed an order to sell 610,000 shares of J-COM Co., Ltd. for one yen each, instead of a commissioned order to sell one share of J-COM Co., Ltd. for 610,000 yen at Tokyo Stock Exchange. J-COM Co., Ltd. (J-COM Holdings Co., Ltd. since December 2009) is a Japanese staffing service company, which was listed on the Mothers (Market of the high-growth and emerging stocks) section of Tokyo Stock Exchange on the day. As a result of this incident, Mizuho Securities accrued a loss of approximately 40.7 billion yen.
Mizuho Securities brought a case for its damages of approximately 41.6 billion yen against the Tokyo Stock Exchange (TSE) insisting that Mizuho Securities could not cancel the order due to a fault in the TSE's computer system, and that TSE negligently failed to suspend the exchange despite the recognition of such an unusual order.
On 4 December 2009, the Tokyo District Court made a judgment ordering TSE to pay Mizuho Securities approximately 10.7 billion yen, holding that: (i) TSE was grossly negligent in leaving its defective system which did not either duly process Mizuho Securities' cancellation or suspend the deal, and (ii) TSE was 70% at fault and Mizuho Securities was 30% at fault under Japanese comparative negligence rules.
Mizuho Securities appealed the case to the Tokyo High Court.
Overseas subsidiaries and offices
Mizuho Securities has the following subsidiaries and offices outside Japan.
Europe and the Middle East
- Mizuho International plc (UK) - Underwriting, sales and trading of marketable securities, custody services, etc.
- Mizuho Bank (Switzerland) Ltd - Global wealth management services
- Mizuho Saudi Arabia Company (Saudi Arabia) - Overseas business advisory service, M&A advisory, sales and trading of securities, investment advisory/agency, asset management, market research/reports
- Mizuho Securities USA Inc. - Underwriting, sales and trading of marketable securities and exchange listed derivatives brokerage etc. Mizuho Securities USA Inc. is a primary dealer in the United States.
- The Bridgeford Group - A division of Mizuho Securities USA Inc. providing M&A Advisory
- Mizuho Securities Asia Limited (China) - Underwriting, sales and trading of securities, M&A advisory, asset management
- Mizuho Securities (Singapore) Pte. Ltd. - Exchange listed derivatives brokerage, etc.
- Mizuho Investment Consulting (Shanghai) Co., Ltd. (China) - China-related consulting
- Beijing Representative Office (China) - Information gathering
- Shanghai Representative Office (China) - Information gathering
- Mumbai Representative Office (India) - Information gathering
- "Form 20-F Mizuho Financial Group, Inc.". Financial Group, Inc. 2009-08-19. p. 42. Retrieved 2010-04-14.
- Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, 4 December 2009)
- [dead link]
- "News release re the first instance judgment rendered in the lawsuit for damages against the Tokyo Stock Exchange, Inc.". Mizuho Securities. 2009-12-04. p. 1. Retrieved 2010-04-16.
- Mizuho Securities v. Tokyo Stock Exchange (Tokyo District Court, December 4, 2009)
- "News release re Tokyo District Court’s judgment regarding damages lawsuit to be pppealed, Inc.". Mizuho Securities. 2009-12-18. p. 1. Retrieved 2010-04-16.
- Mizuho Securities : Overseas Network. Mizuho-sc.com. Retrieved on 2013-08-23.
- "Primary Dealers List". Federal Reserve Bank of New York. 2010-04-01. Retrieved 2010-04-16.