STRATEGIC PARTNERS
April 7, 2002
TOKYO -- The Mizuho financial group announced on April 7 that all its ATMs were functioning properly, nearly a week after an April 1 computer system breakdown caused thousands of failed and erroneous ATM transactions, according to a report in the Asahi Shimbun.
Officials with Mizuho Holdings Inc., the group's holding company, said ATMs at bank branches had been functioning properly since April 2. However, they said it took longer to restore services at convenience stores because "transactions from convenience stores put too much strain on the computer system.'
Officials also cautioned on April 7 that it will take some time to process the backlog of 2.5 million transfer transactions.
The ATM problems tarnished the new bank's first official day of business on April 1. Mizuho Bank was formed by the merger of Fuji Bank, Dai-Ichi Kangyo Bank and the Industrial Bank of Japan.
Bank officials have blamed failure to completely integrate the computer systems of the three banks for the failed transactions.
