December 24, 2004
Mizuho Financial Group, Inc.
Announcement Regarding Signing of "Comprehensive Strategic Business Alliance Agreement" with Credit Saison Co., Ltd.
Mizuho Financial Group, Inc. (MHFG), hereby announces that MHFG and its consolidated subsidiaries, Mizuho Bank, Ltd. (MHBK: President & CEO, Seiji Sugiyama) and UC Card Co., Ltd. (UC Card: President & CEO, Sumio Uesugi) have entered into "Comprehensive Strategic Business Alliance Agreement" with Credit Saison Co., Ltd. (Credit Saison: President & CEO, Hiroshi Rinno).
1. Purpose of "Comprehensive Strategic Business Alliance Agreement"
MHBK, UC Card, and Credit Saison will provide highly innovative and sophisticated services to customers by bringing together each company's expertise and sophisticated services.
2. Outline of "Comprehensive Strategic Business Alliance Agreement"
- 1)MHBK and Credit Saison will issue the "Mizuho Mileage Club (MMC) Card «Saison»" from April 2005.
- 2)Credit Saison will integrate the issuance business of UC Card in fiscal 2005.
- 3)UC Card and Credit Saison will enter into a comprehensive alliance in processing operations and merchant acquisitions after completing a business reorganization.
- 4)UC Card will build a next-generation computer system available to multiple credit card companies. (UC Card, Credit Saison and others will start feasibility studies.)
3. Effect of the Agreement on the Profits / Losses of MHFG
This alliance will have no material effect on MHFG's profits and losses (consolidated or non-consolidated) for this fiscal year.