[Mizuho Financial Group] Announcing Capital Alliance with Rakuten Bank | May 2026

Overview of the Capital Alliance

Mizuho Financial Group and Rakuten Bank signed a capital and business alliance agreement on May 20, 2026, deciding that Mizuho Bank would become a major shareholder of Rakuten Bank through share issuance. The purpose of the alliance is to promote corporate and individual funding and diversify managed assets, aiming to establish a new credit creation model. Specific initiatives include Mizuho Bank originating corporate loans acquired by Rakuten Bank, collaborative efforts to meet settlement and working capital needs, operational efficiency improvements, and crisis response cooperation. The alliance aims to enhance corporate value and contribute to the development of the Japanese economy.

Future Outlook and Impact on Shareholders

Through the alliance, Mizuho Bank and Rakuten Bank will leverage each other's strengths to optimize funding and asset management for corporations and individuals. Mizuho Bank is expected to strengthen its origination capabilities for corporate lending via the alliance, while Rakuten Bank aims to enhance its competitiveness as a digital bank. By becoming a major shareholder of Rakuten Bank, Mizuho Bank intends to secure decision-making control while maintaining voting rights ratio, aiming to improve corporate value. The impact on future performance is under review and will be disclosed as soon as clarified.