Mizuho to buy 20% of Rakuten Securities for $550 mln- Nikkei [Reuters]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
US:NYSE Investor Relations:
mizuho-fg.com/investors/index.html
Company Research
Source: Reuters
Picture taken January 25, 2017. REUTERS/Kim Kyung-Hoon TOKYO, Oct 5 (Reuters) - Mizuho Financial Group's (8411.T) securities business will acquire around 20% of shares in Rakuten Securities from its parent Rakuten Group (4755.T) for about 80 billion yen ($554 million), business daily Nikkei reported on Wednesday. Rakuten has outlined plans to raise capital by listing its securities and banking units as it faces competition from Amazon.com (AMZN.O) in e-commerce and large losses at its wireless carrier business. A deal could give Mizuho the opportunity to beef up its digital business. Rival Sumitomo Mitsui Financial Group Inc (SMFG) (8316.T) this year took a 9.9% stake in online financial company SBI Holdings Inc (8473.T) for about 80 billion yen. A Mizuho spokesperson said that various options regarding cooperation with Rakuten were under consideration but that nothing has been decided. Rakuten did not immediately respond to a request for comment. The transaction is expected
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MFG
Sec Filings
- 2/26/24 - Form 6-K
- 2/22/24 - Form 6-K
- 2/22/24 - Form 6-K
- MFG's page on the SEC website