The Mizuho Financial Group said Monday it opened a joint branch office in Tokyo's Ota Ward, with Mizuho Bank, Mizuho Investors Securities Co. and Mizuho Asset Trust & Banking Co. offering their services within the same building.
Mizuho expects the decision to house its banking, brokerage and trust banking operations in the same venue to benefit the group.
Taira Hosaka, president of Mizuho Investors Securities, told reporters, "We would like to make the new venue a model for comprehensive financial services where the three types of services are jointly offered."
The building was already being used by the Omori-Sanno branch of Mizuho Bank, one of the pillars of Mizuho Holdings Inc.
A nearby branch of Mizuho Asset Trust & Banking transferred its operations into the building, while the brokerage opened a new branch there.
The three sections have separate entrances for their customers and employees. Employees share the same dining hall and conference rooms, however, thereby generating rent savings, the group said.