Rakuten Group has entered a strategic partnership with Mizuho Financial Group, transferring 14.99% of Rakuten Card's shares to enhance growth opportunities and expand their fintech solutions.

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Rakuten Group, Inc., headquartered in Setagaya, Tokyo and led by Chairman and CEO Hiroshi Mikitani, has announced a strategic capital and business partnership with Mizuho Financial Group, Inc., based in Chiyoda, Tokyo and headed by President Masahiro Kihara. This partnership involves the transfer of 14.99% of Rakuten Card, Inc.'s shares to Mizuho Financial Group. Despite this transfer, Rakuten Card will continue to operate as a subsidiary of Rakuten Group, maintaining its crucial role within the Rakuten ecosystem.

The agreement was finalized by signing a stock transfer contract, which emphasizes the commitment to strengthening their collaboration and further enhancing Rakuten Card's growth trajectory through Mizuho FG's resources and customer base.

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