Press Conference by ASO Taro, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Tuesday, March 2, 2021, 8:39 am to 8:45 am)

[Questions and answers:]

Q.

Mizuho Bank suffered a system failure that left customers unable to remove cashcards or bankbooks from ATMs. What is your view on how the Financial Services Agency should address this matter going forward?

A.

It was Sunday when word about this first came out and, of course, it requires that Mizuho respond in a very careful manner. It was reported that some customers had to wait three or even five hours before their cards were returned by the machines. Having to wait five hours for your card is a serious problem because, if you step away for a moment and the card comes out, someone else could take it. Accordingly, we must have Mizuho investigate the causes and perform the proper follow-up to prevent recurrences, and I believe they will be taking whatever steps are necessary in that process. The failure may have been due to a system changeover or any number of other possibilities, but the biggest problem is that customers were inconvenienced. That is above all why we need to make certain they respond appropriately so that this does not happen again. Whether the system shut down due to the busy fiscal year-end or a system changeover in the machines or some other reason, it does seem like something that professionals should not let happen.