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Mizuho's top leadership to resign after regulator slams response to system crashes

Japan finance watchdog hits bank with business improvement order

Mizuho Financial Group President Tatsufumi Sakai, left, attends a news conference on Nov. 26 with Mizuho Bank President Koji Fujiwara. (Photo by Karina Noka)

TOKYO -- Japan's financial watchdog on Friday urged Mizuho Bank and its parent Mizuho Financial Group to clarify responsibility for eight system failures that disrupted bank operations this year.

Mizuho announced the resignations of top executives, including group President Tatsufumi Sakai and Mizuho Bank CEO Koji Fujiwara, as of next April.

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