Mizuho exits custody business outside Japan in sale to State Street

TOKYO — Mizuho Financial Group has agreed to sell its European and U.S. custody and related businesses to American financial services company State Street, the Japanese group said Friday, after struggling to grow in these markets.

The price was not disclosed but is expected to be in the tens of billions of yen (10 billion yen equals $66 million). The sale is to occur between October and December, pending approval from authorities.