Mizuho eyes 20% stake in Rakuten Securities for $554 million

Economy Society

Mizuho Financial Group Inc. is considering investing about 80 billion yen ($554 million) to acquire a roughly 20 percent stake in Rakuten Securities Inc., sources familiar with the matter said Wednesday. The plan comes after Sumitomo Mitsui Financial Group Inc. has invested in internet financial giant SBI Holdings Inc., heating up competition among Japanese megabanks seeking to poach customers through online brokerages. Mizuho, via its subsidiary Mizuho Securities Co., plans to buy part of Rakuten Securities shares, now totally owned by Rakuten Group Inc., around November, with the financial g...

Kyodo News

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