ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Where's the backup? Behind Mizuho's scramble over system crash

Megabank's computer system was developed by four separate companies

Up to 130 Mizuho Bank ATMs across Japan stopped functioning Aug. 23, just days after a widespread systems crash that disrupted bank teller operations in branches nationwide.   © Reuters

TOKYO -- Multiple backup mechanisms failed to activate during Mizuho Financial Group's widespread system crash last week, Nikkei has found, with a reliance on numerous outside vendors complicating system management. 

The crash was the group's fifth in 2021. Japan's Financial Services Agency is extending its on-site inspections as last week's incident raised the possibility of fundamental problems with the banking system.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more