The Tokyo Metropolitan Government on Friday demanded that Mizuho Bank pay 17 million yen in compensation to cover losses caused by the bank's massive computer failure earlier this year, according to metropolitan government officials.
The Tokyo government suffered losses due to delays in fund settlements at the bank for water and sewage service charges, they said.
The compensation in question would cover various costs, including 13 million yen in expenses related to rewriting computer software to reclaim water and sewage charges and 1.7 million yen used to send letters of apology and other correspondence, the officials said.
"This is the amount for actual damages, and we believe we will be paid," remarked one official.
The computer fiasco occurred almost immediately after the April 1 launch of Mizuho Bank and Mizuho Corporate Bank.
The two banks were created under the Mizuho Holdings Inc. umbrella via the merger of Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan.
Customers were double-billed for utilities charges, while most of the 7,000 automated teller machines at the banks malfunctioned.