TOKYO -- Mizuho Financial Group and message app Line announced on Thursday that they are abandoning plans to develop a smartphone-based company called Line Bank, confirming Nikkei's earlier report, after cost overruns and delays allowed competitors to hit the market first.
Finance
Mizuho and Line scrap online bank project in Japan
System development delays made phone-based service late to market
Line CEO Takeshi Idezawa, left, and Toshitsugu Okabe, then the deputy president of Mizuho Financial Group, announce plans for Line Bank in 2018. (Photo by Shihoko Nakaoka)
Read Next
Latest on Finance
