,TOKYO - Japan's Financial Services Agency (FSA) will conduct an on-site inspection at the main banking unit of Mizuho Financial Group Inc after repeated system failures, the daily Yomiuri newspaper reported on Wednesday. Since late February, Mizuho, the country's third largest lender by assets, has suffered three ATM-related glitches as well as problems last week that resulted in delays to foreign currency-dominated remittances, mainly affecting corporate customers. The on-site investigation will be conducted later this month, according to Yomiuri. The FSA could not immediately be reached for comment. A spokesman for Mizuho said the bank was not in a position to comment. Mizuho started operating its current system in July 2019 after spending more than 400 billion yen ($3.67 billion) to develop it, following large-scale system glitches in 2002 and 2011. Tatsufumi Sakai, chief executive of Mizuho Financial Group, plans to hold a briefing on the system failures this month, Mizuho said. REUTERS
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