Mizuho Securities Said to Shutter Investment Unit in Japan (1)

Mizuho Financial Group Inc.’s securities arm plans to close a Japanese investment subsidiary next year, according to a person familiar with the matter.

The brokerage of Japan’s third-largest banking group plans to shutter Mizuho Securities Principal Investment Co. in June, said the person, who asked not to be named because the discussions are private.

The Tokyo-based unit of Mizuho Securities Co., which makes bets in areas including venture capital and real estate, had 19 employees as of the end of August, the person added.

A Mizuho Securities spokesperson confirmed the plan to dissolve the Tokyo-based investment unit in ...