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Mizuho eyes seeking Hitachi compensation for system crash

Bank blames faulty hardware for March 11 stoppage in foreign currency transfers

Mizuho Bank faces regulatory scrutiny for a spate of ATM and other system failures in recent weeks.    © Reuters

TOKYO -- Japan's Mizuho Bank may demand financial compensation from Hitachi for a system crash that held up wire transfers denominated in foreign currencies last month, Nikkei has learned.

The bank blames the failure of Hitachi-made equipment for the payment trouble. Parent company Mizuho Financial Group plans to hold a news conference on the matter as early as Monday.

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