Mizuho Financial Group Inc. said Friday it will reshuffle top managers at the holding company and two key group banks, Mizuho Corporate Bank and Mizuho Bank, in April in the first such simultaneous management change since April 2002.
Under the plan, Mizuho Financial Deputy President Takashi Tsukamoto, 58, will succeed current President Terunobu Maeda, 64, and Mizuho Corporate Bank Deputy President Yasuhiro Sato, 56, will succeed current President Hiroshi Saito, 64.
Mizuho Bank Deputy President Satoru Nishibori, 55, will take over the post of President Seiji Sugiyama, 61.
The current presidents will become chairmen at their respective entities.
The reshuffle is intended to rejuvenate the megabank's management, sources said.
Tsukamoto, a graduate of Kyoto University and a Tokyo native, joined Dai-Ichi Kangyo Bank, one of the Mizuho group's three predecessor banks, in 1974. He has been deputy president of the holding firm since last April after working as deputy president for Mizuho Corporate Bank.
Iijima promoted
Mitsui & Co. said Friday it will promote Senior Executive Managing Officer Masami Iijima as president on April 1, succeeding Shoei Utsuda.
Utsuda, 65, will become chairman and the current chairman, Nobuo Ohashi, 70, will step down to serve as director from April and will then become an adviser following a general shareholders meeting in June, the trading house said.
Iijima, 58, has been in charge of steel materials and other metals operations during most of his career at Mitsui and now heads the resources and energy division, which generates 70 percent to 80 percent of the company's net profit.