Mizuho Securities | |
Native name | みずほ証券株式会社 |
Romanized name | Mizuho Shōken Kabushiki-gaisha |
Industry | Financial services |
Headquarters | Ōtemachi,
Tokyo , |
Services |
Securities brokerage Investment banking Securities research |
Number of employees | 6,994 (March 2016) |
Parent | Mizuho Financial Group |
Website | mizuhogroup.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.
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 effective date of the merger was postponed a couple of times due to the 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]