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.