Mizuho Financial Group to acquire a 14.99% stake in Rakuten Card from Rakuten Group for $1.06bn.

Mizuho Financial Group, a financial services company, agreed to acquire a 14.99% stake in Rakuten Card, a credit card unit of Rakuten Group, a Japanese technology conglomerate, for $1.06bn. Through the tie-up, Rakuten and Mizuho aim to strengthen their credit card operations by utilizing their customer bases.