Rakuten Bank Shares Jump as Mizuho Considers Investment

Rakuten Bank Ltd. shares surged after Mizuho Financial Group Inc. said it is considering investing in the firm as one of the options for Japanese e-commerce giant Rakuten Group Inc.’s planned reorganization of its financial businesses.

Shares of Rakuten Bank rose as much as 10.4% in Tokyo on Monday, the biggest gain in three months. Its parent Rakuten Group’s shares fell 0.7% after rising as much as 4.6% earlier. Mizuho shares fell as much as 7.7%, weighed down also by its move to buy back stock that fell short of analyst estimates.