The Financial Reconstruction Commission approved a plan Thursday by Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan to set up a holding company as well as a plan by a Sakura Bank-led consortium to form an Internet bank.
Given approval by the governmental commission, Mizuho Holdings Inc., whose three member banks had faced difficulties in coordinating personnel affairs and bad-loan disposal, is to be launched Sept. 29.
It will be the world's largest financial institution in terms of total assets.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.