Stmt re Seibu Depart.Stores

RNS Number:9933H
Mizuho Holdings Inc
26 February 2003


 
Listed Company Name     :         Mizuho Holdings, Inc. 
Head Office Address     :         6-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo
Code Number             :         8305 TSE 1st Sec., OSE 1st Sec.


             Financial Assistance to The Seibu Department Stores, Ltd.


Subsidiaries of Mizuho Holdings, Inc., Mizuho Corporate Bank, Ltd. and Mizuho
Asset Trust & Banking Co., Ltd., have announced today that they decided, at
the request of The Seibu Department Stores, Ltd. (the "Company"), to provide
the Company with the following financial assistance upon completion of
putting together the reorganization plan under "Guideline for Multi-Creditor
Out-of-Court Workouts." 


1. Outline of the Company

(1) Address             :  28-1, Minamiikebukuro 1-chome Toshima-ku, Tokyo
(2) Representative      :  Mr. Yukio Horiuchi
(3) Capital             :  JPY 8,912 million


2. Details of Relevant Developments

The Company has formulated the reorganization plan including debt forgiveness
to improve its balance sheet drastically and requested financial assistance
based on the procedure under "Guideline for Multi-Creditor Out-of-Court
Workouts" to correspondent financial institutions.

3. Outline of the Financial Assistance provided by Mizuho Corporate Bank,
   Ltd. and Mizuho Asset Trust & Banking Co., Ltd.


Mizuho Corporate Bank, Ltd. and Mizuho Asset Trust & Banking Co., Ltd. will
release the Company from its debts in the amount below: 
       Mizuho Corporate Bank, Ltd.                      JPY 142,601 million
       Mizuho Asset Trust & Banking Co., Ltd.           JPY 834 million

4. Effect of this Development on Profit/Loss of Mizuho Holdings, Inc. 

This development will have no effect on Mizuho's previously announced
earnings estimate for this fiscal year.


                     Please direct any inquiries to: 

Mizuho Holdings, Inc.                  Public Relations          [phone] 
Mizuho Corporate Bank,Ltd.             Public Relations          [phone]
Mizuho Asset Trust & Banking Co.,Ltd.  Corporate Planning        [phone]
 


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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