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Mizuho Bank suffered its fifth system failure of the year on Friday that prevented the completion of deposits, withdrawals, transfers and other transactions at its branch counters across Japan, its parent company said. Mizuho Trust & Banking Co also suffered similar malfunctions at its branch counters, according to major banking… ....
Mizuho Bank suffers system failures that prevented its branch counters across Japan from conducting transactions such as deposits, withdrawals and transfers, its parent company Mizuho Financial Group Inc. says. ....
Mizuho Bank suffers 5th Japan-wide system failure of 2021 newsonjapan.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsonjapan.com Daily Mail and Mail on Sunday newspapers.
Mar 1, 2021 When Honda Motor Co. stopped using Sumitomo Mitsui Trust Bank Ltd. as its stock transfer agent last year, the automaker was hit with a roughly ¥426 million termination fee, according to two people familiar with the matter. The break fee ¥2,000 ($19) per shareholder is a little-known practice among Japan’s biggest trust banks applied when they lose a client in the shareholder record-keeping business, multiple insiders say. The bank to which the client transfers typically pays the fee. Insiders say this arrangement keeps a profitable business in the hands of a few big trust banks because newcomers balk at the cost. One departing client was told the charge was an “industry custom.” ....
An inside view of a Sumitomo Mitsui Trust Bank branch in Osaka (Asahi Shimbun file photo) When Japan’s Honda Motor Co. Ltd. stopped using Sumitomo Mitsui Trust Bank Ltd. as its stock transfer agent last year, the lender slapped it with a roughly $4 million termination fee, according to two people familiar with the matter. The break fee 2,000 yen ($19) per shareholder is a little-known practice among Japan’s biggest trust banks when they lose a client in the shareholder record-keeping business, multiple insiders say. The bank that takes the new client typically pays the fee. Insiders say this arrangement keeps a profitable business in the hands of a few big trust banks because newcomers balk at the cost. One departing client was told the charge was an “industry custom.” ....