#Japan #Tokyo #Global Custody #State Street #Mizuho Financial Group

State Street and Mizuho Financial Group Complete Business Transfer

On October 2, 2025, in Tokyo, State Street Corporation (NYSE: STT) announced the successful completion of the transfer of Mizuho Financial Group’s global custody and related businesses outside of Japan. This transaction signifies a strategic collaboration between the two financial giants, designed to bolster the overseas investment capabilities for Mizuho's clients.

Transaction Details

As a result of this transaction, State Street has acquired Mizuho's foreign securities services business. This acquisition includes a variety of critical services such as global custody services, fund services for the Cayman Islands, Bahamas, and Luxembourg, securities agency services across Europe, as well as sub-custody and securities lending services in the United States. These operations are managed through Mizuho Trust Bank in Luxembourg and Mizuho Bank in the U.S.

The custody assets involved in this transaction amount to approximately $580 billion, while the offshore fund management assets are about $24 billion. These figures illustrate the significant scale of the operations and the importance of this transfer in facilitating Mizuho's overseas investment support for its clients, primarily based in Japan.

Executive Commentary

Hiroshi Kobayashi, Country Head of State Street Trust Bank Japan and Vice Chairman, expressed gratitude for Mizuho’s trust in the decision to transition valued clients to State Street. Since February, both companies have worked closely to deepen the understanding of Mizuho's foreign securities services model, ensuring a smooth transition for its clients. Kobayashi emphasized that this move reflects confidence in State Street’s innovative products and high standards of customer service. He also reaffirmed State Street's ongoing commitment to enhancing its offerings and services in the Japanese market, particularly by strengthening its presence in crucial markets like Japan and Luxembourg.

Meanwhile, Chikara Yamamoto, Executive Officer and Head of Global Transaction Unit at Mizuho FG, conveyed satisfaction regarding the completion of this transaction, expressing confidence that State Street will effectively continue to support Mizuho's clients' foreign investment needs thanks to its global business scale and solutions.

Future Prospects

Mizuho, as Japan's largest comprehensive financial institution, will continue to provide domestic asset custody and trust services to its customers while collaborating with State Street on global custody and related services.

Operating in Japan for over 35 years, State Street employs more than 500 professionals across its two locations in Tokyo and Fukuoka. These experts deliver a comprehensive suite of financial services, including trust, global custody, data management, middle and back-office outsourcing, trading, and finance solutions for institutional investors in Japan. The Fukuoka office has supported clients in Japan and the Asia-Pacific region for over a decade. Additionally, in Luxembourg, State Street has provided fund administration, custody, and transfer agency services for 35 years.

Headquartered in Boston, Massachusetts, State Street Corporation operates in more than 100 markets worldwide, offering a wide range of financial services for institutional investors. With an impressive custody and management asset portfolio amounting to $49 trillion and $5.1 trillion in assets under management, State Street stands as one of the leading global financial institutions.

For more information, visit State Street's website.

About State Street and Mizuho Financial Group

State Street Corporation is a leading financial institution providing asset management, investment research, and trading services to institutional investors worldwide. On the other hand, Mizuho Financial Group is recognized for its comprehensive financial services and has a history spanning 150 years, with total assets of around $2 trillion. The merger of competencies between these two firms is set to create robust synergies that will nurture the future of the financial landscape in Japan and beyond.