Dow Jones Newswires: Rakuten to sell 20% stake in online brokerage unit to Mizuho
Rakuten Group Inc. 4755,
Rakuten and Mizuho, a unit of Mizuho Financial Group Inc. 8411,
Mizuho Securities plans to buy the stake in Rakuten Securities on Nov. 1, the companies said.
Rakuten Group has been suffering losses due partly to losses from its mobile business and has said it planned to list its banking unit and its brokerage holding company.