Summary: Mizuho Corporate Bank Ltd. Feb 06

Standard & Poors, February 2006

Abstract
Major improvement in financial profile as a result of fast progress in writing off NPLs Strong customer base in Japan Wide range of services, including investment banking Low profitability in comparison with both overseas and domestic peers Mizuho Corporate Bank Ltd. is a major subsidiary of Mizuho Financial Group (Mizuho FG) that deals mainly with large corporate customers. The ratings on Mizuho Corporate Bank reflect its financial profile on a stand-alone basis, as well as Mizuho FG's consolidated financial profile and position within Japanese financial markets. Mizuho Corporate Bank has close linkages with other companies within its group, and the holding company is authorized to reshuffle capital and other resources throughout the organization. NPLs dropped considerably in fiscal 2001 and...

Companies mentioned in this report are:
- Mizuho Corporate Bank Ltd.

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Mizuho Corporate Bank Ltd.

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