The Tokyo Metropolitan Government said Friday it will soon launch an independent inspection of Mizuho Bank, which suffered a computer-system fiasco last month.
Tokyo Gov. Shintaro Ishihara told a news conference that the metropolitan government will investigate the causes of the computer problems and the bank’s preventive steps.
The glitches caused numerous headaches for the metropolitan government, including a weeklong delay in processing 37 million yen in rental fees for public housing, according to officials.
Tokyo uses Mizuho Bank, a unit of Mizuho Holdings Inc., to manage its revenues and payments.
Should the investigation unearth examples of gross mismanagement, Ishihara hinted the government could change banks.
On an average day in fiscal 2001, Fuji Bank, one of the three banks involved in the Mizuho merger in April, dealt with a cash flow of some 45 billion yen linked to the metropolitan government.
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