Schedule 13G: Mizuho Reports 510,001 Shares in BEST SPAC I

Rhea-AI Filing Summary

Mizuho Financial Group filed a Schedule 13G reporting beneficial ownership of 510,001 common shares of BEST SPAC I Acquisition Corp., equal to 8.8% of the class. The filing states Mizuho has sole voting and dispositive power over all 510,001 shares and reports no shared voting or dispositive power. The filer identifies itself as a parent holding company and notes that Mizuho Financial Group, Mizuho Bank and Mizuho Americas may be indirect beneficial owners through wholly owned Mizuho Securities USA LLC, with an Exhibit A provided for subsidiary identification. The filing certifies the shares are held in the ordinary course of business and were not acquired to influence control.

Positive

• Beneficial ownership clearly disclosed: 510,001 shares representing 8.8% of the class
• Sole voting and dispositive power reported: filer states sole authority over voting and disposition for all reported shares
• Certification of ordinary-course holding: filer certifies shares were not acquired to influence control
• Parent holding company identification and Exhibit A: filing identifies parent status and references exhibit for subsidiary details

Negative

• None.

Insights

Financial Analyst

TL;DR: Mizuho reports a material 8.8% stake (510,001 shares) with sole voting and dispositive power; filing indicates a passive holding.

The Schedule 13G discloses a >5% position that meets SEC passive-holder reporting. Key metrics are clear: 510,001 shares representing 8.8%, with reported sole voting and dispositive authority and 0 shared power. The filing’s certification that the shares are held in the ordinary course and not to influence control frames this as a disclosed, non-activist stake. The parent holding company classification and Exhibit A reference provide traceability to the subsidiary that acquired the securities.

Corporate Governance Expert

TL;DR: Parent holding company classification and sole voting/dispositive power are formally reported; indirect ownership through subsidiaries is disclosed.

The statement documents that Mizuho Financial Group is filing as a parent holding company and explicitly notes potential indirect beneficial ownership by related entities through Mizuho Securities USA LLC. Reporting sole voting and dispositive power over all 510,001 shares is material for governance records; however, the filer also certifies the position is held in the ordinary course and not to alter control. Exhibit A is referenced for subsidiary identification, which is important for clarifying internal ownership channels.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

BEST SPAC I Acquisition Corp.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G1069P137

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G1069P137

1

Names of Reporting Persons

Mizuho Financial Group, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 510,001.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 510,001.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

510,001.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.8 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Mizuho Financial Group, Inc., Mizuho Bank, Ltd. and Mizuho Americas LLC may be deemed to be indirect beneficial owners of said equity securities directly held by Mizuho Securities USA LLC which is their wholly-owned subsidiary.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BEST SPAC I Acquisition Corp.
(b)	Address of issuer's principal executive offices: 701, 7/Floor, United Building 17-19 Jubilee Street Hong Kong, 999077
Item 2.
(a)	Name of person filing: Mizuho Financial Group, Inc.
(b)	Address or principal business office or, if none, residence: 1-5-5, Otemachi, Chiyoda-ku, Tokyo, 100-8176, Japan
(c)	Citizenship: Japan
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: G1069P137
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Parent Holding Company
Item 4.	Ownership
(a)	Amount beneficially owned: 510,001
(b)	Percent of class: 8.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 510,001
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 510,001
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit A
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Parent Holding Company is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Mizuho Financial Group, Inc.

Signature:	/s/ Takahiro Katsura
Name/Title:	Takahiro Katsura, Managing Director, Global Corporate Function Coordination Department
Date:	08/13/2025

FAQ

How many BEST SPAC I (BSAAU) shares does Mizuho report owning?

The filing reports beneficial ownership of 510,001 shares of BEST SPAC I (BSAAU).

What percentage of the class does Mizuho's stake represent?

Mizuho's reported stake represents 8.8% of the class.

Does Mizuho report voting or dispositive power over these shares?

Yes. The filing states Mizuho has sole voting and sole dispositive power over all 510,001 shares and reports 0 shared power.

Is the stake disclosed as an attempt to influence control of the issuer?

No. The filing includes a certification that the shares are held in the ordinary course of business and were not acquired to influence control.

Are any subsidiaries or related entities identified as indirect owners?

Yes. The filing states that Mizuho Financial Group, Mizuho Bank and Mizuho Americas may be indirect beneficial owners through wholly owned Mizuho Securities USA LLC and references Exhibit A for subsidiary identification.