Rakuten (JP:4755) has released an update.
Rakuten Group Inc. is exploring a strategic capital and business alliance with Mizuho Financial Group to strengthen its FinTech operations through its subsidiary Rakuten Card. This collaboration aims to accelerate growth in both consumer and corporate sectors, capitalizing on Mizuho’s extensive customer base to expand Rakuten Card’s business domain and the whole Rakuten FinTech Ecosystem. Meanwhile, Rakuten has decided against a previously considered reorganization of its FinTech business, deeming it not the best course for expansion.
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