Japan's Rakuten Group decides not to list Rakuten Securities

Rakuten

30/01/2025 07:24

TOKYO, Jan 30 (Reuters) - Japan's Rakuten Group  4755.T 
has decided not to seek a listing for Rakuten Securities on the
Tokyo Stock Exchange, the company said on Thursday.
    The struggling e-commerce giant had said in November that it
had temporarily withdrawn its application to have the securities
unit go public, but that it planned to reapply at an appropriate
time.
    In a statement, Rakuten said its board decided on Thursday
to instead deepen its collaboration with major shareholder
Mizuho Securities and other companies within the Mizuho
Financial Group  8411.T .
    Mizuho in November said it would invest 87 billion yen 
($560 million) in Rakuten Securities, lifting the group's stake
to 49% from just under 20%.
 ($1 = 154.4500 yen)

 (Reporting by Chang-Ran Kim; Editing by Himani Sarkar)
 ((ran.kim@thomsonreuters.com; +81-3-4520-1228;))