Rakuten Group has completed the transfer of a 14.99% stake in Rakuten Card to Mizuho Financial Group as part of a strategic partnership aimed at enhancing financial services offerings.
Target Company Information
Rakuten Group, Inc. (Headquartered in Setagaya, Tokyo; CEO: Hiroshi Mikitani) has recently announced a strategic capital and business partnership with Mizuho Financial Group, Inc. (Headquartered in Chiyoda, Tokyo; President: Masahiro Kihara). As part of this collaboration, Rakuten Group has transferred 14.99% of its common shares in Rakuten Card Co., Ltd. (Headquartered in Minato, Tokyo; President: Masayuki Hosaka) to Mizuho Financial Group, with the completion of the transaction set for December 1, 2024.
Furthermore, the parent company of Rakuten Insurance Holdings, Inc., a subsidiary of Rakuten Card, will be changed to Rakuten Group through an in-kind dividend from Rakuten Card, also effective on December 1, 2024.
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Mizuho Financial Group, Inc.
invested in
Rakuten Card, Inc.
in 2024
in a Strategic Partnership deal