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Mizuho Bank president to step down due to system failures

Fujiwara to also give up chairmanship as Japanese lender plans to punish dozens

Mizuho Bank President Koji Fujiwara will resign from his position and also not assume chairmanship, which had been planned. (Source photos by Taryo Yokosawa and Yo Inoue)

TOKYO -- Mizuho Bank President Koji Fujiwara will leave his position as early as the end of this month to take responsibility for the company's recent widespread system glitches, Nikkei learned on Thursday.

Fujiwara, 59, will also not assume the chairmanship for which he was appointed earlier this year. Group CEO Tatsufumi Sakai, 61, will keep his job but may face a salary cut, the details of which Mizuho Financial Group is still working out.

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