When Dai-ichi Kangyo bank, Fuji Bank and Industrial Bank of Japan merged in 2000 to create the world's largest bank, managers wanted to christen the venture with a hopeful name, a word to signify a new era of Japanese banking free from the backward ways that have helped to cripple the world's second largest economy. The name they chose was Mizuho, meaning "a fresh ear of rice."
Two years later, the merger has gone down as one of the worst in global corporate history. The bank has stumbled from one humiliation to another, including ATM network failures, executive...
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