Mizuho Trust & Banking Co. Ltd. Dec 10

Standard & Poors, December 2010

Abstract
Stable trust banking business franchise underpinned by Mizuho group's extensive customer base Sufficient capital relative to business risks Improving performance Low profitability by international standards Small business base as one of Japan's four major trust banks Mizuho Trust & Banking Co. Ltd. (Mizuho Trust; A+/Stable/A-1) is a trust bank operating under the umbrella of the group holding company, Mizuho Financial Group Inc. (Mizuho FG; A/Stable/--). Mizuho Trust provides a wide variety of trust and custodial services, such as real estate transactions, securitization, pension trusts, and asset management, to retail and corporate customers. The company is particularly strong in the areas of real estate and securitization for corporate customers. Mizuho Trust maintains a solid business franchise, supported by the Mizuho group's...

Companies mentioned in this report are:
- Mizuho Trust & Banking Co. Ltd.
- Mizuho Finance (Curacao) N.V.
- Mizuho Corporate Bank (Canada)
- Mizuho Finance (Cayman) Ltd.
- Mizuho Corporate Bank Ltd.
- Mizuho Financial Group Inc.
- Trust & Custody Services Bank Ltd.
- Mizuho Capital Investment (USD) 1 Ltd.
- Mizuho Capital Investment (EUR) 1 Ltd.
- Mizuho Corporate Bank (China) Ltd.
- Mizuho Capital Investment (USD) 2 Ltd.
- Mizuho Capital Investment (JPY) 5 Limited

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Mizuho Trust & Banking Co. Ltd.
- Mizuho Finance (Curacao) N.V.
- Mizuho Corporate Bank (Canada)
- Mizuho Finance (Cayman) Ltd.
- Mizuho Corporate Bank Ltd.
- Mizuho Financial Group Inc.
- Trust & Custody Services Bank Ltd.
- Mizuho Capital Investment (USD) 1 Ltd.
- Mizuho Capital Investment (EUR) 1 Ltd.
- Mizuho Corporate Bank (China) Ltd.
- Mizuho Capital Investment (USD) 2 Ltd.
- Mizuho Capital Investment (JPY) 5 Limited

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