economy
Mizuho shares slide 7% after denying decision on reported Rakuten Bank investment shift
Shares of Mizuho Financial Group fell over 7% Monday, after the company said it has not made decision yet on investment in Rakuten Bank.
TL;DR
- Mizuho Financial Group shares fell 7.7% after the company denied a decision on investing in Rakuten Bank.
- A Yomiuri Shimbun report suggested Mizuho planned to invest in Rakuten Bank and withdraw from Rakuten Card.
- Mizuho stated it is exploring options for Rakuten Bank but has made no decision.
- Mizuho's stake in Rakuten Securities is reported to remain unchanged.
- Rakuten's Fintech segment is undergoing reorganization, with bank, card, and securities to be in the same group by October 2026.
- Mizuho reported a 660% increase in fourth-quarter profit.