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Market Chatter: Mizuho Cuts Holding In Orient Corp As Activist Pushes Ownership Review

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Mizuho Financial (TYO:8411) will reduce its stake in credit card issuer Orient Corp (TYO:8585) to about 33.8% through the sale of a 15% holding, marking a partial exit following pressure from an activist investor seeking clearer direction on the investment, Bloomberg reported Friday.

The bank will remain a major shareholder after the transaction, down from a position of more than 48% previously, according to the report.

Activist investor Strategic Capital, which holds nearly 12% of Orient Corp, has pushed Mizuho to either deepen control through full ownership or fully unwind its stake, arguing the current arrangement raises governance concerns and weighs on shareholder value, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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