Mizuho Financial, currently the leading structured notes issuer in Japan this year, will be merging with Mizuho Securities and Mizuho Investors Securities as of 4 January 2013.
A Mizuho Securities spokesperson told SRP that Hajime Minemoto will head the derivative products department, with responsibility for overseeing the group's structured product business in the country.
According to the SRP database, so far this year Mizuho Investors Securities has 61 products (excluding flow products) striking this year totalling US$1.1bn, while Mizuho Securities has issued 32 products (excluding flow products), totalling US$1.9bn.
Mizuho Securities is currently owned by Mizuho Corporate Bank with a 94.66% stake, with the balance held by Norinchukin Bank. Mizuho Investors Securities is wholly owned by Mizuho Bank. After the merger, the new company name will remain Mizuho Securities.