Mizuho Financial Group, Inc. (TSE:8411) agreed to acquire 14.99% stake in Rakuten Card Co.,Ltd. from Rakuten Group, Inc. (TSE:4755) for approximately ¥170 billion on November 13, 2024. Under this Agreement, the Company will transfer 14.99% of Rakuten Card's common stock to Mizuho FG. The transfer amount is expected to be ¥164,997 million. Even after the Share Transfer, Rakuten Card will remain a subsidiary of Rakuten Group, and will continue to be an important consolidated subsidiary embedded in the Rakuten Ecosystem. Rakuten Card has reported Total equity attributable to owners of the parent company of ¥147.230 billion, Total assets of ¥4,190,330 million, Revenue of ¥406,350 million, Operating income of ¥69,560 million, and Net income attributable to owners of the parent company of ¥48,484 million. The expected completion of the transaction is December 1, 2024. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Rakuten Group, Inc. Nishimura & Asahi acted as legal advisor to Rakuten Group, Inc.

Mizuho Financial Group, Inc. (TSE:8411) completed the acquisition of 14.99% stake in Rakuten Card Co.,Ltd. from Rakuten Group, Inc. (TSE:4755) on December 1, 2024.