Rakuten Bank Discloses Parent Holds 49.27% Stake
Rakuten Bank (TYO:5838) has disclosed its parent company, Rakuten Group, holds 49.27% of its voting rights, with executive chairman Hiroshi Mikitani concurrently serving as a director at both entities.The internet bank operates within the Rakuten Ecosystem's FinTech segment, leveraging the group's 100 million-plus customer base for customer acquisition while maintaining a distinct market focus on Japan and Taiwan, according to a Tokyo bourse filing on Wednesday.To ensure independence, the bank's board has a majority of outside directors, and a special advisory committee reviews related-party transactions and group personnel matters to protect minority shareholders.Rakuten Group has also entered into a basic management agreement respecting the bank's strategic and personnel independence, with no significant related-party transactions reported for the fiscal year ended March 31.
