Business Services Industry
Mizuho Financial Group, Inc. Joins the NYSE Group, Inc. as the Third Largest Japanese Company by Market Cap
Business Wire, Nov 8, 2006
19th NYSE-Listed Company from Japan, Bringing Total Global Market Capitalization of Japanese Companies on NYSE to $962 Billion
NEW YORK -- Today, NYSE Group, Inc. (NYSE: NYX) welcomed its 19th Japanese listed company when Mizuho Financial Group, one of the largest financial institutions in the world, joined the world's leading and largest equities market. Mizuho Financial Group, Inc. (NYSE: MFG) is the third-largest NYSE-listed Japanese company by market cap with a total global market capitalization of $92 billion.
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"The listing of Mizuho's ADRs on the NYSE is clear evidence of a new era for Mizuho Financial Group and its return to the world stage," said Mizuho Financial Group CEO Terunobu Maeda. "It is also a symbol of the revival of the Japanese banking industry, following the long and difficult period of consolidation and reform. Through the listing, Mizuho aims to further strengthen its internal controls in line with Sarbanes-Oxley compliance requirements and to improve corporate disclosure. Mizuho also hopes to diversify its global investor base as it gains and strengthens investor confidence."
"We welcome Mizuho Financial Group, Inc. to our family of listed companies," said NYSE Group, Inc. CEO John A. Thain. "It is fitting for Mizuho Financial Group, one of the largest financial institutions in the world, to take its place among the world's leading companies. We look forward to providing the company and its shareholders with the highest levels of market quality and services."
To celebrate this special occasion, Mizuho Financial Group, Inc. CEO Terunobu Maeda rang The Opening Bell and participated in media activities throughout the morning.
About Mizuho Financial Group, Inc.
Mizuho Financial Group is one of the largest financial institutions in the world, offering a broad range of financial services including banking, securities, trust and asset management services.
The group has over 45,000 staff working in 764 offices around the world, and total assets of over $1.2 trillion (as of March 2006). The company has a market capitalization over $92 billion.
The group was created through the establishment of a holding company of its three predecessor banks, The Dai-Ichi Kangyo Bank, The Fuji Bank and The Industrial Bank of Japan. Under the Mizuho Financial Group umbrella, core companies include Mizuho Bank and Mizuho Corporate Bank.
Mizuho Bank, the retail-oriented banking subsidiary, has approximately 26 million individual customer accounts and lends to approximately 100,000 small and medium-sized enterprises, or SMEs, and middle-market corporations.
Mizuho Corporate Bank, the wholesale banking subsidiary, has business relationships with approximately 70% of all companies listed on Japanese stock exchanges.
(Source: Mizuho Financial Group, Inc.)
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the "NYSE") and NYSE Arca, Inc. (formerly known as the Archipelago Exchange, or ArcaEx[R], and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. In the third quarter of 2006, on an average trading day, 2.2 billion shares, valued at $80.1 billion, were traded on the exchanges of the NYSE Group.
The NYSE is the world's largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies' common stock and other securities. On September 30, 2006, the operating companies listed on the NYSE represented a total global market capitalization of $23.0 trillion.
NYSE Arca operates NYSE Arca, Inc., the first open, all-electronic stock exchange in the United States, and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca, Inc. is also an exchange for trading equity options. NYSE Arca's trading platforms provide customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: www.nyse.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on NYSE Group's current expectations and involve risks and uncertainties that could cause NYSE Group's actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause NYSE Group's results to differ materially from current expectations include, but are not limited to: NYSE Group's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group's Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. NYSE Group undertakes no obligation to release any revisions to any forward-looking statements.
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