Mizuho to buy 20% of Rakuten Securities for $550 million- Nikkei

TOKYO :Mizuho Financial Group's securities business will acquire around 20 per cent of shares in Rakuten Securities from its parent Rakuten Group for about 80 billion yen ($554 million), business daily Nikkei reported on Wednesday.

The transaction is expected to close around November, Nikkei reported, adding that Mizuho will buy shares held by Rakuten.

A Mizuho spokesperson said that various options regarding cooperation with Rakuten were under consideration but that nothing has been decided.

Rakuten did not immediately respond to a request for comment.

($1 = 144.3700 yen)