April 23, 2011 / 1:27 AM / 9 years ago

Mizuho Bank head to resign over computer glitch: report

The reflection of a man is seen next to a logo of Mizuho Financial Group at a business complex in Tokyo January 12, 2011. REUTERS/Yuriko Nakao

TOKYO (Reuters) - The head of Mizuho Bank, the retail banking unit of Japan’s second-largest lender Mizuho Financial Group, will resign by June over a massive computer glitch, the Asahi newspaper reported on Saturday.

Mizuho was hit by the glitch last month after accounts were flooded with donations for a magnitude 9.0 earthquake and tsunami in northeast Japan that killed up to 28,000 people.

The computer troubles forced shutdowns of Mizuho’s automatic teller machines and disrupted transactions, adding to the woes of businesses and households already badly shaken by the disasters.

Mizuho Bank’s president, Satoru Nishibori, is seen compiling a plan to prevent a recurrence of such glitches and formally announce his resignation by a shareholders’ meeting in June, the Asahi said, without citing a source.

Candidates to replace him include Manabu Yoshidome, Mizuho Bank’s deputy president, and Takashi Nonaka, president of Mizuho Trust & Banking, the Asahi added.

Some form of punishment for Mizuho Financial Group President and CEO Takashi Tsukamoto is also being considered, the newspaper said.

Reporting by Chisa Fujioka; Editing by Robert Birsel

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