Mizuho Holdings Inc. held an extraordinary shareholders' meeting Wednesday in which it was given the green light to raise the ceiling on preferred share issues -- a measure aimed at bolstering its capital by 1 trillion yen to accelerate bad-loan disposal.
The banking group is set to book more than 2 trillion yen in loan-loss charges for fiscal 2002, forcing Mizuho Holdings to suffer a consolidated net loss of 1.95 trillion yen.
At the outset of the meeting, Mizuho Holdings President Terunobu Maeda apologized to shareholders over the group's inability to pay a dividend to holders of common shares due to the massive loss.