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Mizuho Bank puts leadership change on hold after ATM debacle

Focus turns to troubleshooting after computers fail four times in two weeks in Japan

Mizuho Bank managing executive officer Masahiko Kato, left, had been slated to replace President Koji Fujiwara on April 1.

TOKYO -- Mizuho Financial Group will postpone a leadership reshuffle at its main banking unit next month to find the root cause of recent system failures and prevent a recurrence, Nikkei learned Monday.

Mizuho Bank has suffered four system failures in the past two weeks. On Feb. 28, roughly 80% of its ATMs across Japan stopped running, with some users unable to retrieve their bank cards from the machines. A glitch in its foreign exchange system from Thursday night to Friday delayed 263 remittances.

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