Mizuho Securities to acquire a 20% stake in Rakuten Securities from Rakuten for $550m.

Mizuho Securities, an asset management company, agreed to acquire a 20% stake in Rakuten Securities, an Internet securities company focusing on online transactions, from Rakuten, a digital services company, for $550m. Through the deal, Mizuho hopes to tap Rakuten Securities' online brokerage expertise as well as its relatively young clientele at a time of stiff competition for traditional face-to-face brokerage services.