Mizuho Financial Group has announced the designation of Mizuho Americas LLC as its U.S. intermediate holding company, effective October 1, 2024, to comply with regulatory requirements and enhance its asset management operations in the U.S.

Target Information

Mizuho Financial Group, Inc. (MFG), under the leadership of President & Group CEO Masahiro Kihara, has announced plans to designate Mizuho Americas LLC (MALLC), a wholly owned subsidiary, as its U.S. intermediate holding company (IHC). This designation is pursuant to the U.S. Federal Reserve Board's Regulation YY, which applies to foreign banking organizations surpassing USD 100 billion in combined U.S. assets. MFG will officially designate MALLC as its IHC on October 1, 2024, following its increase in average U.S. non-branch assets to USD 50 billion or more.

This restructuring will require MFG to hold its ownership in most U.S. subsidiaries through MALLC. As part of this transition, MFG plans to transfer its ownership stake in Asset Management One USA Inc. (AM-One USA) to MALLC, with the transfer expected to occur on April 1, 2024. The remaining shares of AM-One USA will remain under Dai-ichi Life Holdings, Inc., ensuring continuity in service delivery as AM-One collaborates with its U.S. counterpart to provide asset management solutions to clients.

Industry Overview

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