Mizuho FG acquires 20% stake in Rakuten Securities Cooperating with major financial group and Internet securities

Mizuho Financial Group, a major financial group, announced that it will acquire a 19.99% stake in online brokerage firm Rakuten Securities next month.

The purchase price is expected to be approximately 80 billion yen.

In the financial industry, major financial groups are forming alliances one after another with Internet brokerages, which are increasing the number of accounts, especially among the younger generation.