Mizuho Financial Group institutions are scrambling to process a backlog of 2.5 million money transfer orders that began piling up Monday due to computer problems at the bank, officials said Saturday.
It is likely to be the end of this week before the bank can clear the backlog and be able to execute transfers without delay, the sources said. Steps to correct remittances mistakenly conducted during the confusion, however, are expected to have been largely completed by Saturday.
Organizations reporting delayed payments include telecommunications companies NTT DoCoMo Inc., NTT East Corp. and NTT West Corp., all part of Nippon Telegraph and Telephone Corp., as well as utilities Tokyo Electric Power Co., Tokyo Gas Co., Kansai Electric Power Co. and Chubu Electric Power Co.