© Reuters. PHOTOS: Dad passes by Mizuho Financial Group sign outside Mizuho Bank headquarters in Tokyo May 18, 2011. REUTERS / Yuriko Nakao / File Photo
TOKYO (Reuters) – Mizuho Financial Group is planning to buy the US company Capstone Partners, an expert on the matter, while the Japanese lender wants to boost its banking business.
Capstone from Dallas, Texas helps business companies find fewer partners to spend their money on, which helps raise global business finances, debt, and infrastructure.
Following the acquisition, Capstone will be owned by Mizuho in the United States, where it is expected to help build a Japanese banking business, the man said, declining to be named because the information has not been disclosed.
Mizuho is not preparing to explain the purchase price, the man added.
No one was available for comment at Capstone’s Dallas office outside of office hours.
Mizuho, who has been struggling at home to address long-standing wrongdoing, is planning to appoint Masahiro Kihara as its new chief executive to address the issue.
Capstone’s acquisition coincides with the efforts of Japanese central banks to find more businesses overseas, especially in rapidly growing markets.
Of the three megabanks, Mizuho has been slower to move than its main rivals Mitsubishi UFJ (NYSE 🙂 Financial Group and Sumitomo Mitsui (NYSE 🙂 Financial Group.
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