• Kyodo News

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Mizuho Bank has resolved the majority of delays in money transfers caused by a recent computer system failure, sources said Wednesday.

But Mizuho was still working to restore a number of online services used by corporate clients, making it unlikely the bank would be able to normalize all operations by Thursday morning.

The large-scale glitch generated a backlog of up to 1.16 million unsettled transactions at one of Japan’s biggest commercial banks with a nationwide presence.

Mizuho said Tuesday it had cleared the backlog but then found that tens of thousands of transactions remained unprocessed after receiving a raft of new complaints from account holders, the sources said.

Mizuho officials processed all remaining unsettled transactions later Tuesday night.

The retail banking arm of Mizuho Financial Group Inc. has launched a probe into the cause of the system failure. The breakdown forced Mizuho to suspend all ATM operations for three days from Saturday in a bid to repair its computer system.

Mizuho resumed almost all bank operations Wednesday, including over-the-counter services and transactions via ATMs. It also resumed operations at 2,175 ATMs at unmanned locations that had been suspended through Tuesday.

The bank hopes to process an estimated 1.9 million paychecks Friday.

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