TOKYO Feb 27 The core banking unit of Mizuho
Financial Group Inc is looking to postpone the
integration of its computer systems by one year from the
original plan of spring 2016 due to development delays, sources
said on Thursday.
Development costs to integrate the systems of the former
Mizuho Corporate Bank and Mizuho Bank are now expected to
slightly exceed 300 billion yen ($2.93 billion), compared with
an initial estimate of 250 billion to 300 billion yen, two
sources with knowledge of the matter told Reuters, adding that
the impact to Mizuho Bank's bottom line would be limited.
($1 = 102.2800 Japanese yen)
(Reporting by Taiga Uranaka and Taro Fuse; Writing by Chang-Ran
Kim; Editing by Dominic Lau)