Mizuho And Nikko Cordial Agree Co-operative Alliance

Mizuho and Nikko Cordial Securities have reached an agreement to co operate in terms of products and customers, sealed by a share purchase. Mizuho Corporate Bank is to acquire up to 94 million shares (4.92%) of Nikko Cordial Corporation's stock.

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Mizuho and Nikko Cordial Securities have reached an agreement to co-operate in terms of products and customers, sealed by a share purchase.

Mizuho Corporate Bank is to acquire up to 94 million shares (4.92%) of Nikko Cordial Corporation’s stock. The bank will purchase the shares on 31 January 2005, as the co-operation contract comes into effect.

Mizuho Securities and Nikko Cordial Securities have opened discussions on the details of the proposed business alliance.

Mizuho says the new agreement will not affect the existing cooperation between Mizuho Securities, Shinko Securities Co., Ltd. and Mizuho Investors Securities Co., Ltd.

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