Mizuho Financial Group buys a 15% stake in Rakuten Card for about $1 billion, deepening their partnership.

Mizuho Financial Group is acquiring a 15% stake in Rakuten Card for about $1 billion, a move that deepens the partnership between the two Japanese firms. The deal, scheduled for December 1st, follows Mizuho's previous increase in stake in Rakuten Securities, reflecting Rakuten's financial challenges, particularly from its mobile network unit. Rakuten anticipates a significant profit from this transaction.

November 13, 2024
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