State Street to acquire Mizuho’s Global Custody Business

State Street and Mizuho Financial Group have entered into an agreement for State Street to acquire Mizuho’s global custody and related businesses outside of Japan. These businesses support the overseas investments of Mizuho’s Japanese clients.

Mizuho currently operates its global custody and related business outside of Japan through its local subsidiaries Mizuho Trust & Banking (Luxembourg), owned by Mizuho Trust & Banking, and Mizuho Bank (USA), a wholly-owned subsidiary of Mizuho Bank. Both of these entities represent combined assets under custody of approximately US$580 billion and US$24 billion in assets under administration.

After this transaction, Mizuho will leverage its expertise and network as one of Japan’s largest financial institutions to continue providing Japanese clients with trust and custody services for their domestic assets, and will collaborate with State Street for global custody and related services.

The transaction is expected to be completed by Q4 2025, subject to the regulatory approvals and other closing conditions.

State Street established its business in Japan more than 35 years ago. With an experienced team of more than 500 employees in Japan, split between locations in Tokyo and Fukuoka, State Street provides Japanese institutional investors with a comprehensive suite of services including trust, global custody, middle/back office outsourcing, data management, trading and financing solutions. State Street has an operational centre of excellence in Fukuoka which has been supporting clients in Japan and across Asia Pacific for over a decade. State Street has been present in Luxembourg for 35 years providing services including fund administration, custody and transfer agency. From its headquarters in Boston, Massachusetts, State Street operates globally in more than 100 geographic markets.

Please follow us to read more about Finance & FinTech in Japan, like hundreds of readers do every day. We invite you to also register for our short weekly digest, the “Japan FinTech Observer”, on LinkedIn, or directly here on the platform.

We also provide a daily short-form Japan FinTech Observer news podcast, available via its Podcast Page. Our global Finance & FinTech Podcast, “eXponential Finance” is available through its own LinkedIn newsletter, or via its Podcast Page.

Should you live in Tokyo, or just pass through, please also join our meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.

From Balance Sheet Repair to Outward FDI: Ueda Decodes Japan's Persistent External Surplus and Corporate Saving Paradox

The 13th Michel Camdessus Central Banking Lecture at the International Monetary Fund (IMF) convened against a fraught macroeconomic landscape defined by severe geopolitical tensions, energy supply shocks, an unprecedented global artificial intelligence investment surge, and widening international capital imbalances. Delivered at the IMF headquarters in Washington, D.C., the address

Standard Chartered's SC Ventures and SBI Group Back Soter Insure in Series B Second Close

Institutional digital asset insurer Soter Insure has secured strategic investments from SC Ventures, the innovation arm of Standard Chartered, and Japanese financial conglomerate SBI Group in the second close of its Series B funding round. The second close also included follow-on participation from Token Bay Capital, which has backed

South Korea’s ATON Partners with Japan’s ALQOUZ to Target Surging Tokyo Cybersecurity Demand

South Korean digital security and authentication provider ATON has entered into a memorandum of understanding (MOU) with Japanese FinTech firm ALQOUZ to expand its enterprise security solutions into Japan. Under the agreement, the two companies will share commercial intelligence and jointly target corporate clients across Japan. ALQOUZ, a registered FinTech

Tokyo Stock Exchange Operator Subsidiary Backs Smartround to Bridge Japan’s Public and Private Market

JPX Market Innovation & Research (JPXI), the non-exchange strategic arm of Tokyo Stock Exchange operator Japan Exchange Group (JPX), has taken an equity stake in private-market platform Smartround as part of a pre-Series C financing. The deal is structured through newly issued warrants combined with a secondary

Read more

From Balance Sheet Repair to Outward FDI: Ueda Decodes Japan's Persistent External Surplus and Corporate Saving Paradox

Standard Chartered's SC Ventures and SBI Group Back Soter Insure in Series B Second Close

South Korea’s ATON Partners with Japan’s ALQOUZ to Target Surging Tokyo Cybersecurity Demand

Tokyo Stock Exchange Operator Subsidiary Backs Smartround to Bridge Japan’s Public and Private Market